The Bank Deposits, Interest Rate on Deposits and Penalties on Premature withdrawal of Deposits Policy has been framed by the Investment Sub-Committee taking into consideration the guidelines/circulars issued by Reserve Bank of India Master Direction DCBR.Dir.No.1/ 13.01.000/2015-16 updated on January 01, 2024 approved by the BoM/Board of Directors in its meeting held on 20.03.2024/30.03.2024 vide Resolution No.A.1(c)(iv) as under :