RBI hikes limit of bulk deposits for banks, FD investors to gain ...Middle East

Mumbai: The Reserve Bank of India (RBI) has decided to revise the definition of bulk deposits as ‘Single Rupee term deposits of Rs 3 crore and above’ for scheduled commercial banks and small finance banks, central bank Governor Shaktikanta Das said on Friday. Banks have the discretion to offer differential rates of interest on bulk deposits as per their requirements and Asset-Liability Management (ALM) projections. The bulk deposits limit was enhanced in 2019 for Scheduled Commercial Banks and Small Finance Banks as ‘Single Rupee term deposits of Rs 2 crore and above’. This limit has now been raised after taking a review, the RBI Governor said. The necessary guidelines for implementing the

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