RBI Enhances “Bulk Deposit” Limit for Regional Rural Banks From Rs 15 Lakh to Rs 1 Crore
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- By Chetan Kulasri
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- Last Updated on 28 October, 2023
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Circular RBI/2023-24/75 DoR.SPE.REC.50/13.03.00/2023-2024, Dated 26.10.2023
As per RBI (Interest Rate on Deposits) Directions, 2016, the “Bulk Deposit” means (i) a single Rupee term deposit of Rs 2 crore and above for SCBs (excluding Regional Rural Banks) and Small Finance Banks. (ii) Single Rupee term deposits of Rs 15 lakhs and above for Regional Rural Banks (RRBs). Now, RBI has decided to enhance the bulk deposit limit for RRBs. Accordingly, “Bulk Deposit” for RRBs would now mean Single Rupee term deposits of Rs 1 crore and above.
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