The revised directions will apply to commercial banks, small finance banks, regional rural banks (RRBs), local area banks, payments banks and urban cooperative banks. Under the new framework, banks will be required to disclose the interest rates applicable on all deposits, including bulk deposits, in advance on their websites. The RBI has also mandated that deposit interest rates must be uniform across all branches of a bank and for all customers. The revised guidelines, however, do not prescribe any increase or reduction in fixed deposit (FD) interest rates from October 1. Deposit rates will continue to be determined by individual banks based on factors such as liquidity conditions, funding requirements and prevailing market dynamics.