RBI enhances Bulk Deposit limit for Urban Co-operative Banks:

RBI enhances Bulk Deposit limit for Urban Co-operative Banks The Reserve Bank of India(RBI) has issued instructions for the enhancement of the Bulk Deposit limit for Urban Co-operative Banks. In reference to Para 3 (a) (i) of Master Direction - Reserve Bank of India (Co-operative Banks - Interest Rate on Deposits) Directions 2016 issued on May 12, 2016, in which “Bulk Deposit” means single Rupee term deposits of Rupees fifteen lakh and above. Following a review, it was decided to increase the bulk deposit limit for Scheduled Primary (Urban) Co-operative Banks in Tier 3 and 4 to Rupees One crore and beyond. Accordingly, “Bulk Deposit” for Primary (Urban) Co-operative Banks would now mean:

i. Single Rupee term deposits of Rupees one crore and above for Scheduled UCBs categorised as Tier 3 and 4 UCBs under the revised regulatory framework.

ii. Single Rupee term deposits of Rupees fifteen lakh and above for all other UCBs (i.e., other than Scheduled UCBs in Tier 3 and 4).

To Read More Download PDF Given Below: