RBI Hikes Bulk Deposit Limit for Urban Co-operative Banks (UCBs) in Tier 3 & Tier 4 to Rs. 1 Crore
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- Last Updated on 3 January, 2024
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Circular No. RBI/2023-24/104 DoR.SPE.REC.63/13.03.00/2023-2024, Dated 01.01.2024 (banking.bnf)
The RBI has decided to enhance the bulk deposit limit for Scheduled Primary (Urban) Co-operative Banks, in Tier 3 and 4, to Rs. 1 crore and above.
Accordingly, “Bulk Deposit” for Primary (Urban) Co-operative Banks would now mean that a Single Rupee term deposit of Rs. 1 Crore and above for Scheduled UCBs categorised as Tier 3 and 4 UCBs under the revised regulatory framework. Single Rupee term deposits of Rs 15 lakhs and above for all other UCBs (i.e., other than Scheduled UCBs in Tier 3 and 4).
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