After a evaluate, the Reserve Bank of India (RBI) has determined to improve the majority deposit limit for Scheduled Primary (Urban) Co-operative Banks, in Tier 3 and 4, to ₹1 crore and above from ₹15 lakh and above which was the which means of bulk deposits as per a earlier Master Direction.
“Accordingly, “Bulk Deposit” for Primary (Urban) Co-operative Banks would now imply: Single Rupee time period deposits of Rupees one crore and above for Scheduled UCBs categorised as Tier 3 and 4 UCBs below the revised regulatory framework. and Single Rupee time period deposits of Rupees fifteen lakh and above for all different UCBs (i.e., apart from Scheduled UCBs in Tier 3 and 4),” the RBI stated in a round.
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