The Reserve Bank of India (RBI) on September 16, 2022, updated the Master Direction on RBI (Co-operative Banks - Interest Rate on Deposits) Directions, 2016 in the exercise of the powers conferred by Sections 21 and 35 A read with section 56 of the Banking Regulation Act, 1949. The provisions of these directions will apply to every co-operative bank licensed or permitted to carry on banking business in India by the Reserve Bank of India.
Disclaimer – Please refer to the master direction to view the modifications provided in the Link/Document.