The banking regulator, RBI has asked the banks across the country to post bulk deposits rates on their websites. This has come against the RBI's efforts to prevent banks from offering unreasonably higher rates to corporate clients.

RBI further added that banks can not vary their interest rates in different locations. It is being noticed that certain banks offer interest rates up to 2% higher than their card rates on similar maturities to bulk depositors.

The regulator's initiative coincides with ministry of finance's motive to reduce the banks' share of bulk deposits by 15% of their total deposits, as this causes huge variations in the interest rates and ultimately effect margins. Of this 15%, the bulk deposit have to be limited to 10% while certificates of deposits can be 5% of the total deposits. As of now banks have a deadline of March 31, 2013 to meet the targets.

Bulk deposits are corporate fixed deposits accepting amounts over Rs. 1 crore up to a period of 1 year.

Many public sector banks have bulk deposits ranging in 25-30% of their deposits, with certain banks having as high as 40% of their total deposits with corporate clients.

Banks generally receive huge amount of corporate deposits at the end of the fiscal. During this period last fiscal, banks garnered Rs. 3 lakh crore, which was about a third of the total deposits for the fiscal.

Public sector bank, Bank of India earlier this week had reduced its bulk deposits rate on select maturities by up to half a percent.