Economics · Banking Sector Reforms

Following deregulation by the RBI, which entity currently determines the rate of interest on domestic savings bank accounts in India?

Verified Solution4 OptionsUpdated: October 2026👁️1 View

1The concerned commercial bank itself✓
2Reserve Bank of India (RBI)
3Government of India
4Indian Banks' Association (IBA)

Correct answer

The concerned commercial bank itself

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Following deregulation by the RBI, which entity currently determines the rate of interest on domestic savings bank accounts in India?

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Following deregulation by the RBI, which entity currently determines the rate of interest on domestic savings bank accounts in India?

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