New Reserve Bank of India rules on bulk fixed deposits take effect on October 1, changing how banks publish and apply rates for large deposits. The Second Amendment Directions were notified on July 30, 2026.

From Wednesday, banks must publish their bulk deposit rates on their websites by 10 am every business day, with a grace period until 10:10 am. The rate a customer receives must match the published schedule.

Banks also cannot discriminate across branches or customers. Similar deposits accepted on the same day must get the same rate. Bulk deposits generally mean deposits of Rs 3 crore or more at scheduled commercial banks.

From October 1, biometric Aadhaar e-KYC becomes mandatory to continue receiving subsidised domestic LPG refills through direct benefit transfer. Customers without it risk losing the subsidy.

SBI’s Basic Savings Bank Deposit accounts will allow only four free cash withdrawals a month. After that, each withdrawal will cost Rs 15 plus GST. Depositors should check the new terms with their banks.