New Delhi, Sept. 30 -- The Reserve Bank of India (RBI) is changing the rules governing interest rates on bulk fixed deposits (FDs) from October 1, bringing greater transparency to how banks disclose rates for large deposits.

The changes are unlikely to affect most individual retail investors because they apply to bulk deposits, which for scheduled commercial banks generally start at Rs.3 crore.

The revised framework is aimed at making bulk-FD pricing more transparent and giving large depositors clearer information about the interest rate applicable to their deposits.

Under the revised RBI framework, banks will have to publish the interest rates applicable to bulk fixed deposits on their websites on every working day.

The rates must be...