GRI

Review of Instructions on Bulk Deposits for Regional Rural Banks (RRBs)

News Financial services English General Updates
Date: 26th Oct, 2023 Source: Reserve Bank of India Country: India Original Source

Brief

Summary:

The Reserve Bank of India (RBI) has reviewed the instructions on bulk deposits for Regional Rural Banks (RRBs). As per the revised definition, a "bulk deposit"" for RRBs means single rupee term deposits of Rs. 1 crore and above

RBI/2023-24/75 DoR.SPE.REC.50/13.03.00/2023-2024 October 26, 2023 All Regional Rural Banks Sir / Madam, Review of Instructions on Bulk Deposits for Regional Rural Banks (RRBs) Please refer to Para 3 (a) (i) of Master Direction – Reserve Bank of India (Interest Rate on Deposits) Directions, 2016 dated March 3, 2016, in terms of which “Bulk Deposit” means:

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RBI/2023-24/75 DoR.SPE.REC.50/13.03.00/2023-2024 October 26, 2023 All Regional Rural Banks Sir / Madam, Review of Instructions on Bulk Deposits for Regional Rural Banks (RRBs) Please refer to Para 3 (a) (i) of Master Direction – Reserve Bank of India (Interest Rate on Deposits) Directions, 2016 dated March 3, 2016, in terms of which “Bulk Deposit” means:

This content is restricted.

Reserve Bank of India

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