{"what_this_is":"The machine-readable twin of the BankPulse page for one RBI rulebook. Same points, same dates, same paragraph references as the page a person reads. RBI's own wording is not reproduced here: each point names the RBI paragraph, the character offset into the text BankPulse read and the sha256 of that text, so the claim can be checked against RBI's own document.","schema_version":1,"release_id":"d653cdb0a5","generated_at":"2026-09-15T00:33:59.117975+00:00","id":"md13029","title":"Reserve Bank of India (Urban Co-operative Banks – Interest Rate on Deposits) Directions, 2025 (Updated as on June 17, 2026)","document_kind":"Directions","page":"https://bankpulse.ai/rule/md13029","status":"In force","importance":{"code":"MR","label":"MUST READ","weight":"Must read","why":"Deposit-rate rules drive branch products and ALM","layer":"bankpulse_inference"},"applies_to":{"shown":"Urban co-operative banks","class_code":"UCB","from":"the document's own title","layer":"bankpulse_inference"},"dates":{"prid":"md13029","mode":"four_dates_v1","published":{"label":"Published","value":"November 28, 2025 (updated June 17, 2026)","stated":true,"why":"The day RBI put this document out."},"effective":{"label":"Starts to apply","value":"June 17, 2026","stated":true,"why":"The day this rule starts to apply, as RBI's own text states it."},"transition":{"label":"Time to get ready","value":"201 days","stated":true,"why":"The room between the day it was published and the day it starts to apply."},"deadline":{"label":"Last date to act","value":"","stated":false,"why":"No date to act by was found in this document. Other dates may sit inside single paragraphs."},"sources":{"published":"doc_date in data/highlights/md13029.json","effective":"data/date_kinds.json kind=effective_date","transition":"worked out from published and starts-to-apply","deadline":"none held"}},"rbi_source":{"url":"https://rbi.org.in/Scripts/BS_ViewMasDirections.aspx?id=13029","document_date":"November 28, 2025 (updated June 17, 2026)","read_by_bankpulse":"2026-08-17 03:47:49 UTC","text_sha256":"78f99c98bea30d449eea9e9f37ac5ac0c640eef5f7733e3b38d64f914a569b55","word_count":null,"standing_last_checked":"Standing checked on RBI’s Master Directions index, 15 September 2026, 5:58 am IST."},"counts":{"points_shown":36,"points_naming_an_rbi_paragraph":36,"points_stored":36,"actions":1,"amendments":3},"points":[{"n":1,"claim":"md13029-768ceae2","page_group":"Opening paragraphs","stored_section":"KEY DATES","heading":"Date of issue","plain_english":"These Directions were issued on November 28, 2025, as part of RBI's UCB rule clean-up.","rbi_paragraph":"Opening paragraphs","rbi_char_offset":1932,"weight":"DO IT","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13029#p1","layer":"bankpulse"},{"n":2,"claim":"md13029-7f83de32","page_group":"Opening paragraphs","stored_section":"WHO IT APPLIES TO","heading":"Non-resident deposits included","plain_english":"Non-resident deposits under NRE, NRO and FCNR foreign-currency schemes are covered too.","rbi_paragraph":"Opening paragraphs","rbi_char_offset":3076,"weight":"DO IT","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13029#p2","layer":"bankpulse"},{"n":1,"claim":"md13029-cfa6fbc6","page_group":"Chapter I. Preliminary","stored_section":"KEY DATES","heading":"Start date","plain_english":"The Directions took effect the moment RBI placed them on its official website.","rbi_paragraph":"Para 2","rbi_char_offset":4760,"weight":"DO IT","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13029#p3","layer":"bankpulse"},{"n":2,"claim":"md13029-0427785a","page_group":"Chapter I. Preliminary","stored_section":"THE CORE IDEA","heading":"One deposit rulebook","plain_english":"This document gives Urban Co-operative Banks one single rulebook for pricing every kind of deposit.","rbi_paragraph":"Para 3","rbi_char_offset":4911,"weight":"DO IT","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13029#p4","layer":"bankpulse"},{"n":3,"claim":"md13029-a0b8ef54","page_group":"Chapter I. Preliminary","stored_section":"WHO IT APPLIES TO","heading":"Who is covered","plain_english":"These rules apply to every Urban Co-operative Bank regulated by the Reserve Bank of India.","rbi_paragraph":"Para 4","rbi_char_offset":5053,"weight":"DO IT","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13029#p5","layer":"bankpulse"},{"n":4,"claim":"md13029-b7113f9b","page_group":"Chapter I. Preliminary","stored_section":"WHO IT APPLIES TO","heading":"Accounts covered","plain_english":"The rules cover every domestic rupee current, savings and term deposit account.","rbi_paragraph":"Para 5(6)","rbi_char_offset":6686,"weight":"DO IT","role":"All staff","team":null,"products_covered":["deposit-account"],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13029#p6","layer":"bankpulse"},{"n":1,"claim":"md13029-6bb80fee","page_group":"Chapter II. General Guidelines (Interest Rate Framework)","stored_section":"THE CORE IDEA","heading":"Board-approved deposit policy","plain_english":"Every bank needs one policy on deposit interest and withdrawal penalties, approved by its Board.","rbi_paragraph":"Para 6(1)","rbi_char_offset":10078,"weight":"DO IT","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13029#p7","layer":"bankpulse"},{"n":2,"claim":"md13029-b46fc3b7","page_group":"Chapter II. General Guidelines (Interest Rate Framework)","stored_section":"IMPACT","heading":"Same rate for all","plain_english":"Every customer must get the same interest rate for the same deposit size and date.","rbi_paragraph":"Para 6(2)","rbi_char_offset":10601,"weight":"DO IT","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13029#p8","layer":"bankpulse"},{"n":3,"claim":"md13029-7eca56a6","page_group":"Chapter II. General Guidelines (Interest Rate Framework)","stored_section":"IMPACT","heading":"Published schedule binding","plain_english":"Every rate a bank actually pays must match its own publicly disclosed rate schedule.","rbi_paragraph":"Para 6(3)","rbi_char_offset":10795,"weight":"DO IT","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13029#p9","layer":"bankpulse"},{"n":4,"claim":"md13029-879b2841","page_group":"Chapter II. General Guidelines (Interest Rate Framework)","stored_section":"IMPACT","heading":"No negotiated rates","plain_english":"Depositors can no longer negotiate a special one-off interest rate with the bank.","rbi_paragraph":"Para 6(4)","rbi_char_offset":10912,"weight":"DO IT","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13029#p10","layer":"bankpulse"},{"n":1,"claim":"md13029-1bf20793","page_group":"Chapter III. Domestic Rupee Deposits","stored_section":"WHAT CHANGES","heading":"No current account interest","plain_english":"Banks cannot pay any interest on money kept in current accounts, with narrow exceptions.","rbi_paragraph":"Para 7","rbi_char_offset":12039,"weight":"DO IT","role":"All staff","team":null,"products_covered":["deposit-account"],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13029#p11","layer":"bankpulse"},{"n":2,"claim":"md13029-997929ec","page_group":"Chapter III. Domestic Rupee Deposits","stored_section":"WHAT CHANGES","heading":"Daily balance calculation","plain_english":"Savings account interest must be worked out on the daily closing balance, not a monthly average.","rbi_paragraph":"Para 8(1)","rbi_char_offset":12634,"weight":"DO IT","role":"All staff","team":null,"products_covered":["deposit-account"],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13029#p12","layer":"bankpulse"},{"n":3,"claim":"md13029-f933d8f6","page_group":"Chapter III. Domestic Rupee Deposits","stored_section":"WHAT CHANGES","heading":"First Rs 1 lakh rate","plain_english":"Every savings balance up to the first Rs 1 lakh must earn the same interest rate.","rbi_paragraph":"Para 8(1)","rbi_char_offset":12702,"weight":"DO IT","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13029#p13","layer":"bankpulse"},{"n":4,"claim":"md13029-8233661a","page_group":"Chapter III. Domestic Rupee Deposits","stored_section":"WHAT CHANGES","heading":"Seven-day minimum term","plain_english":"The shortest term deposit a bank can accept is seven days.","rbi_paragraph":"Para 9(1)","rbi_char_offset":13298,"weight":"DO IT","role":"All staff","team":null,"products_covered":["deposit-account"],"products_excluded":[],"bankpulse_example":"A customer asks for a term deposit of four days. The bank cannot accept it. The minimum tenor of a deposit is seven days, so seven days is the shortest term it can offer.","anchor":"https://bankpulse.ai/rule/md13029#p14","layer":"bankpulse"},{"n":5,"claim":"md13029-37372f2c","page_group":"Chapter III. Domestic Rupee Deposits","stored_section":"WHAT CHANGES","heading":"Bulk deposit exception","plain_english":"Banks may only offer a different interest rate for large, defined bulk deposits.","rbi_paragraph":"Para 9(2)","rbi_char_offset":13377,"weight":"DO IT","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13029#p15","layer":"bankpulse"},{"n":6,"claim":"md13029-9317ee91","page_group":"Chapter III. Domestic Rupee Deposits","stored_section":"WHAT CHANGES","heading":"Early withdrawal right","plain_english":"Individual and HUF term deposits of Rs 1 crore or less must always allow early withdrawal.","rbi_paragraph":"Para 9(3)","rbi_char_offset":13738,"weight":"DO IT","role":"All staff","team":null,"products_covered":["deposit-account"],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13029#p16","layer":"bankpulse"},{"n":7,"claim":"md13029-0da66036","page_group":"Chapter III. Domestic Rupee Deposits","stored_section":"WHAT CHANGES","heading":"Zero interest before minimum","plain_english":"Withdrawing a deposit before its minimum period earns zero interest, not a reduced rate.","rbi_paragraph":"Para 10(2)","rbi_char_offset":14210,"weight":"DO IT","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13029#p17","layer":"bankpulse"},{"n":8,"claim":"md13029-b1a298c3","page_group":"Chapter III. Domestic Rupee Deposits","stored_section":"WHAT CHANGES","heading":"Staff rate concession","plain_english":"Banks may pay staff, and some retired staff, up to one extra percent interest on deposits.","rbi_paragraph":"Para 11","rbi_char_offset":14448,"weight":"DO IT","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13029#p18","layer":"bankpulse"},{"n":9,"claim":"md13029-8cb2c8dc","page_group":"Chapter III. Domestic Rupee Deposits","stored_section":"WHAT CHANGES","heading":"Senior citizen schemes","plain_english":"Banks can design special higher-rate term deposit schemes just for senior citizens.","rbi_paragraph":"Para 12","rbi_char_offset":17043,"weight":"DO IT","role":"All staff","team":null,"products_covered":["deposit-account"],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13029#p19","layer":"bankpulse"},{"n":10,"claim":"md13029-591adc9f","page_group":"Chapter III. Domestic Rupee Deposits","stored_section":"WHAT CHANGES","heading":"Quarterly interest credit","plain_english":"Interest on savings accounts must reach the customer at least once every quarter.","rbi_paragraph":"Para 17","rbi_char_offset":18360,"weight":"DO IT","role":"All staff","team":null,"products_covered":["deposit-account"],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13029#p20","layer":"bankpulse"},{"n":11,"claim":"md13029-8671efa7","page_group":"Chapter III. Domestic Rupee Deposits","stored_section":"WHAT CHANGES","heading":"Frozen accounts earn interest","plain_english":"Savings accounts frozen by enforcement authorities must keep receiving interest as normal.","rbi_paragraph":"Para 18","rbi_char_offset":18454,"weight":"DO IT","role":"All staff","team":null,"products_covered":["deposit-account"],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13029#p21","layer":"bankpulse"},{"n":12,"claim":"md13029-4d31ac13","page_group":"Chapter III. Domestic Rupee Deposits","stored_section":"WHO SHOULD ACT","heading":"Penalty policy approval","plain_english":"The Board, or a Board committee, must approve the bank's premature-withdrawal penalty policy.","rbi_paragraph":"Para 20","rbi_char_offset":19087,"weight":"DO IT","role":"All staff","team":"Board and senior management","products_covered":["deposit-account"],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13029#p22","layer":"bankpulse"},{"n":13,"claim":"md13029-287a45ea","page_group":"Chapter III. Domestic Rupee Deposits","stored_section":"WHAT CHANGES","heading":"Penalty disclosure duty","plain_english":"Any premature-withdrawal penalty must be shown to the depositor before the deposit is accepted.","rbi_paragraph":"Para 21","rbi_char_offset":19327,"weight":"DO IT","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13029#p23","layer":"bankpulse"},{"n":14,"claim":"md13029-d6040e52","page_group":"Chapter III. Domestic Rupee Deposits","stored_section":"WHAT CHANGES","heading":"Undisclosed penalty barred","plain_english":"If a penalty was never disclosed when the deposit was opened, the bank cannot levy it.","rbi_paragraph":"Para 21","rbi_char_offset":19449,"weight":"DO IT","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13029#p24","layer":"bankpulse"},{"n":1,"claim":"md13029-2ef2b6e6","page_group":"Chapter IV. Rupee Deposits of Non-Residents","stored_section":"WHAT CHANGES","heading":"NRE minimum term","plain_english":"Non-resident external term deposits must run for at least one year.","rbi_paragraph":"Para 24(3)","rbi_char_offset":20726,"weight":"DO IT","role":"All staff","team":null,"products_covered":["deposit-account"],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13029#p25","layer":"bankpulse"},{"n":2,"claim":"md13029-c25a5a1a","page_group":"Chapter IV. Rupee Deposits of Non-Residents","stored_section":"KEY DATES","heading":"Temporary rate easing","plain_english":"A temporary easing of some NRE and FCNR rate ceilings runs only until September 30, 2026.","rbi_paragraph":"Para 24(4)","rbi_char_offset":21573,"weight":"DO IT","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13029#p26","layer":"bankpulse"},{"n":3,"claim":"md13029-4e445794","page_group":"Chapter IV. Rupee Deposits of Non-Residents","stored_section":"WHAT CHANGES","heading":"No lien on NRE","plain_english":"Banks cannot place any lien, direct or indirect, on NRE savings deposits.","rbi_paragraph":"Para 25","rbi_char_offset":22485,"weight":"DO IT","role":"All staff","team":null,"products_covered":["deposit-account"],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13029#p27","layer":"bankpulse"},{"n":1,"claim":"md13029-d0073171","page_group":"Chapter V. Foreign Currency Deposits","stored_section":"WHAT CHANGES","heading":"FCNR term band","plain_english":"Foreign-currency non-resident deposits can only be booked for one to five years, never longer.","rbi_paragraph":"Para 29(2)","rbi_char_offset":24674,"weight":"DO IT","role":"All staff","team":null,"products_covered":["deposit-account"],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13029#p28","layer":"bankpulse"},{"n":2,"claim":"md13029-e0ce093c","page_group":"Chapter V. Foreign Currency Deposits","stored_section":"WHAT CHANGES","heading":"FCNR 360-day year","plain_english":"FCNR deposit interest is calculated on a 360-day year, not the usual 365.","rbi_paragraph":"Para 30","rbi_char_offset":26695,"weight":"DO IT","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13029#p29","layer":"bankpulse"},{"n":1,"claim":"md13029-463a22ce","page_group":"Chapter VI. Prohibitions and Exemptions","stored_section":"WHAT CHANGES","heading":"No deposit commission","plain_english":"Banks generally cannot pay commission or brokerage to anyone for mobilising deposits.","rbi_paragraph":"Para 40(1)","rbi_char_offset":33176,"weight":"DO IT","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13029#p30","layer":"bankpulse"},{"n":2,"claim":"md13029-f5af836b","page_group":"Chapter VI. Prohibitions and Exemptions","stored_section":"WHAT CHANGES","heading":"No gifts or lotteries","plain_english":"Banks cannot offer prizes, lotteries or free trips to attract deposit customers.","rbi_paragraph":"Para 40(2)","rbi_char_offset":33663,"weight":"DO IT","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13029#p31","layer":"bankpulse"},{"n":3,"claim":"md13029-2b0c4b1d","page_group":"Chapter VI. Prohibitions and Exemptions","stored_section":"WHAT CHANGES","heading":"Misleading yield ads banned","plain_english":"Deposit ads showing only compounded yield, hiding the real simple interest rate, are banned.","rbi_paragraph":"Para 40(4)","rbi_char_offset":34056,"weight":"DO IT","role":"All staff","team":null,"products_covered":["deposit-account"],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13029#p32","layer":"bankpulse"},{"n":4,"claim":"md13029-c1cd8f9f","page_group":"Chapter VI. Prohibitions and Exemptions","stored_section":"WHAT CHANGES","heading":"Other-bank deposit loans","plain_english":"A bank cannot grant advances against term deposits held with another bank.","rbi_paragraph":"Para 40(7)","rbi_char_offset":34807,"weight":"DO IT","role":"All staff","team":null,"products_covered":["advance-against-deposit","deposit-account"],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13029#p33","layer":"bankpulse"},{"n":1,"claim":"md13029-8d5d0187","page_group":"Chapter VII. Repeal and Other Provisions","stored_section":"WHAT IT REPLACES","heading":"Older rules repealed","plain_english":"This document repeals every earlier RBI instruction on UCB deposit interest rates.","rbi_paragraph":"Para 42","rbi_char_offset":38117,"weight":"DO IT","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13029#p34","layer":"bankpulse"},{"n":2,"claim":"md13029-1079c38d","page_group":"Chapter VII. Repeal and Other Provisions","stored_section":"WHAT IT REPLACES","heading":"Old actions preserved","plain_english":"Anything already done under the old repealed rules stays governed by those old provisions.","rbi_paragraph":"Para 43","rbi_char_offset":38520,"weight":"DO IT","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13029#p35","layer":"bankpulse"},{"n":3,"claim":"md13029-67dbaaa5","page_group":"Chapter VII. Repeal and Other Provisions","stored_section":"KEY DATES","heading":"June 2026 update","plain_english":"RBI updated these Directions again on June 17, 2026 with two specific insertions.","rbi_paragraph":"Para 45","rbi_char_offset":40215,"weight":"DO IT","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13029#p36","layer":"bankpulse"}],"actions":[{"role":"BOARD","team":"Board and senior management","heading":"Penalty policy approval","plain_english":"The Board, or a Board committee, must approve the bank's premature-withdrawal penalty policy.","layer":"bankpulse"}],"amendments":[{"id":"nt13513","title":"Reserve Bank of India (Urban Co-operative Banks – Interest Rate on Deposits) Amendment Directions, 2026","date":"Jun 17, 2026","rbi_url":"https://rbi.org.in/Scripts/NotificationUser.aspx?Id=13513&Mode=0","order":1,"layer":"rbi_source"},{"id":"nt13661","title":"Reserve Bank of India (Urban Co-operative Banks – Interest Rate on Deposits) Second Amendment Directions, 2026","date":"Jul 30, 2026","rbi_url":"https://rbi.org.in/Scripts/NotificationUser.aspx?Id=13661&Mode=0","order":2,"layer":"rbi_source"},{"id":"nt13689","title":"Reserve Bank of India (Urban Co-operative Banks – Interest Rate on Deposits) Third Amendment Directions, 2026","date":"Aug 25, 2026","rbi_url":"https://rbi.org.in/Scripts/NotificationUser.aspx?Id=13689&Mode=0","order":3,"layer":"rbi_source"}],"layers":{"rbi_source":"Facts taken from RBI's own document.","bankpulse":"BankPulse's plain-English summary of RBI's document.","bankpulse_inference":"BankPulse's own inference, not stated by RBI."},"rbi_wording_not_included":"By design. BankPulse never republishes RBI's exact sentences. Use rbi_paragraph with rbi_source.url to read RBI's own words.","terms":"BankPulse's plain-English summaries are BankPulse's own work. The underlying regulation is the Reserve Bank of India's. Always check the RBI document named in rbi_source before acting."}