Reserve Bank has issued Master Direction on Interest Rate in Deposits vide its Direction ” RBI/DBR/2015-16/19Master Direction DBR. Dir. No.84/13.03.00/2015-16 ” dated 3rd March 2016. The said directions spell uniform guidelines for payment of interest rates on various deposits as regards its rates. periodicity, premature withdrawals etc on domestic as well as NRE and FCNR(B) deposits. One…
