Question
Consider the following system regarding the revised FD
bulk limit by RBI- I. The Reserve Bank of India (RBI) decided to raise the criteria for 'bulk deposits' for regional rural banks (RRBs) to Rs 1 crore from the current Rs 15 lakhs in order to raise more funds. II. Accordingly, Bulk Deposit for Regional Rural Banks would now mean Single Rupee term deposits of Rupees one crore and above. III. The single rupee term deposits of Rupees three crore and above for scheduled commercial banks (excluding Regional Rural banks) and Small Finance Banks. Which of the following is/are not correct?Solution
The Reserve Bank of India (RBI) decided to raise the criteria for 'bulk deposits' for regional rural banks (RRBs) to Rs 1 crore from the current Rs 15 lakhs in order to raise more funds. Accordingly, Bulk Deposit for Regional Rural Banks would now mean Single Rupee term deposits of Rupees one crore and above. The single rupee term deposits of Rupees two crore and above for scheduled commercial banks (excluding Regional Rural banks) and Small Finance Banks. This limit is kept unchanged.
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