1. RBI has recently hiked the bank rate into 9.5 % from 6% for the purpose ofsome technical adjustment after a long time, more than a decade now
  2. Savings bank deposit interest rate for resident Indians deregulated from October 25, 2011. Banks given the freedom to determine their savings bank deposit interest rate, subject to the conditions that – (i) each bank should offer a uniform interest rate on savings bank deposits up to Rs.1 lakh, irrespective of the amount in the account within this limit; (ii) for savings bank deposits over Rs.1 lakh, a bank may provide differential rates of interest, if it so chooses, subject to the condition that the bank should not discriminate in the matter of interest paid on such deposits, between one deposit and another of similar amount, accepted on the same date, at any of its offices.