<h1>RBI Deregulates Interest Rates on Deposits and Loans; Implements Measures for Managing Non-Performing Assets Since 1997.</h1> The Reserve Bank of India (RBI) has deregulated interest rates on term deposits since October 1997 and savings bank deposits since October 2011, allowing banks to set their own rates with board approval. Banks must offer a uniform rate on savings deposits up to Rs. 1 lakh, but can vary rates for higher amounts without customer discrimination. The Base Rate System, introduced in July 2010, deregulates rupee lending rates, granting banks freedom in pricing loans, except in certain cases. To manage non-performing assets, RBI and the government have implemented legal and procedural measures, including guidelines for loan recovery and distress detection.