Reserve Bank of India (Payments Banks – Interest Rate on Deposits) Amendment Directions, 2026

The Reserve Bank of India (Payments Banks – Interest Rate on Deposits) Amendment Directions, 2026, issued under Section 35A of the Banking Regulation Act, 1949, amend the Reserve Bank of India (Payments Banks – Interest Rate on Deposits) Directions, 2025. The amendment revises the disclosure framework for deposit interest rates by requiring Payments Banks to disclose applicable interest rates on deposits in advance through their websites. The Directions come into effect from 1 October 2026. The amendment requires deposit interest rates to be disclosed in advance on the bank's website and mandates that interest rates payable on deposits shall strictly conform to the published schedule, thereby strengthening transparency and consistency in the disclosure of deposit interest rates.