Master Direction – Reserve Bank of India (Co-operative Banks – Interest Rate on Deposits) Directions, 2016
This Master Direction outlines the guidelines for co-operative banks regarding interest rates on deposits.
It consists of seven chapters:
Chapter I: Preliminary – deals with short title, commencement, applicability, and definitions.
Chapter II: General Guidelines – outlines the interest rate framework.
Chapter III: Domestic Rupee Deposits – covers interest rates on:
- Domestic Current Accounts
- Domestic Saving Deposits
- Domestic Term Deposits
Chapter IV: Rupee Deposits of Non-Residents – deals with interest rates on rupee deposits of non-residents.
Chapter V: Foreign Currency Deposits – outlines guidelines for foreign currency deposits.
Chapter VI: Prohibitions and Exemptions – lists prohibitions and exemptions related to interest rates on deposits.
Chapter VII: Repeal and Other Provisions – deals with repeal and other provisions.
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