Deregulation of Savings Bank Deposit Interest Rate - Guidelines.

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.... 2. As indicated in the Second Quarter Review of Monetary Policy announced on October 25, 2011, it has been decided to deregulate the savings bank deposit interest rate with immediate effect. Accordingly, the following Guidelines will be effective from October 25, 2011: * Banks are free to determine their savings bank deposit interest rate, subject to the following two conditions: o First,....

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....ulated until further review. 5. An amending directive DBOD.Dir.BC.41/13.03.00/2011-12 dated October 25, 2011 is enclosed. Yours faithfully (P.R.Ravi Mohan) Chief General Manager Encls: As above DBOD.Dir.BC. 41 /13.03.00/2011-12                          &nbs....

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....                                 October 25, 2011 Deregulation of Savings Bank Deposit Interest Rate In exercise of the powers conferred by Section 35A of the Banking Regulation Act, 1949 and in partial modification of its direct....