The Reserve Bank of India (RBI) on October 26, 2023, issued a notification regarding the Review of Instructions on Bulk Deposits for Regional Rural Banks
This has a reference to Para 3 (a) (i) of Master Direction - Reserve Bank of India (Interest Rate on Deposits) Directions, 2016 dated March 03, 2016, where the detailed definition of “Bulk Deposit” has been incorporated.
The following has been stated namely: -
• it has been decided to enhance the bulk deposit limit for Regional Rural Banks. Accordingly, “Bulk Deposit” for Regional Rural Banks would now mean Single Rupee term deposits of Rupees one crore and above.
• It states that the relevant sections of the Master Direction as amended are indicated in the Annexure attached
• It further states that All other instructions in this regard shall remain unchanged.
[Notification No. RBI/2023-24/75 DoR.SPE.REC.50/13.03.00/2023-2024]
