RBI Mandates 10:10 AM Bulk Deposit Rate Disclosure, Allows LCR-Linked Pricing

At 9:55 am, Rohit, head of deposits at a mid-sized bank, logs in to check the day's bulk deposit rates. By 10:10 am, the rates must be live on the website—or it's a compliance issue. This is the new reality for every commercial bank in India, starting October 1, 2026.

What exactly changed?

The RBI has amended its 2025 Deposit Interest Rate Directions. Three key changes:

• Disclosure deadline: Bulk deposit rates must be published on the bank's website by 10:10 am every business day. This is a hard deadline—no excuses.
• Uniformity reaffirmed: The rule that similar deposits accepted on the same date must get the same rate across all branches and customers is now explicitly extended to bulk deposits.
• LCR-linked pricing: Banks can now pay different rates on bulk deposits if the difference is based on the LCR run-off rate—a measure of how quickly deposits might leave the bank.

Why is the 10:10 am deadline a big deal?

Previously, banks had more flexibility in when they published rates. Now, the RBI has set a specific time. The 10-minute grace period from 10:00 am is a small buffer, but it means treasury teams must have their rates finalised before the market opens. This is a compliance discipline issue—any delay could be flagged in inspections.

What is the LCR run-off rate and why does it matter?

The Liquidity Coverage Ratio (LCR) is a rule that requires banks to hold enough high-quality liquid assets to survive a 30-day stress scenario. The run-off rate is the percentage of deposits that might be withdrawn in that scenario. Stable deposits (like savings accounts) have low run-off rates; volatile ones (like large corporate deposits) have high rates.

Now, banks can price bulk deposits differently based on these rates. For example, a corporate deposit with a low run-off rate (more stable) could get a slightly higher rate, because it's less risky for the bank. This gives banks a tool to attract stable funding.

Who is affected?

This circular affects:

• Treasury departments of commercial banks
• Retail and wholesale deposit product teams
• Branch banking operations
• Compliance and risk management functions
• Non-resident deposit (NRE/NRO) product managers

If you work in any of these areas, you need to update your systems and processes before October 1, 2026.

What should banks do now?

Here's a practical checklist:

• Update your deposit rate disclosure process to publish bulk deposit rates by 10:10 am daily.
• Review branch-level pricing to ensure uniformity for similar deposits accepted on the same date.
• Assess your LCR run-off rate categories and decide if you want to introduce differential pricing for bulk deposits.
• Train treasury and retail banking teams on the new timeline and pricing option.
• Coordinate with IT to automate rate publication so you never miss the deadline.

What does this mean for customers?

For most customers, nothing changes immediately. You'll still get the same rate for the same deposit type on the same day. But if you're a corporate with a large bulk deposit, you might see banks offering different rates based on how stable your deposit is. This is a subtle shift—banks can now reward stability.

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