Question
The Reserve Bank of India (RBI) has decided to enhance
the bulk deposit limit for Scheduled Primary (Urban) Co-operative Banks (UCBs) in Tier 3 and 4 to what amount and aboveSolution
The RBI has decided to enhance the bulk deposit limit for Scheduled Primary (Urban) Co-operative Banks (UCBs) in Tier 3 and 4 to Rupees one crore and above. This means that for Tier 3 and 4 UCBs, "Bulk Deposit" would now mean single Rupee term deposits of Rupees one crore and above, while for all other UCBs (i.e., other than Scheduled UCBs in Tier 3 and 4), it would mean single Rupee term deposits of Rupees fifteen lakh and above.
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