AS PER THE NEW RULE,
👉Circular from RBI, fixed deposits will not be automatically renewed and such matured deposits will get savings bank interest rate. Hence all are requested to note due dates and get the receipt renewed on due date to avoid loss of interest.
RBI in its circular said that the new rule will be applicable to all types of banks — commercial banks, small finance banks, cooperative banks, local regional banks.
The circular for the same is attached herewith.
With Regards,
Anuj Rai Bansal
B.Com, FCS, LLB