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Short term deposit rates in indian banks12/21/2023 ![]() These directions shall not be applicable to operations of foreign branches of Indian banks” said RBI.īanks are permitted to offer differential interest rates only on bulk deposits. ![]() “The provisions of these Directions shall apply to every Scheduled Commercial Bank, Small Finance Banks, Payment Banks and Local Area Banks. Accordingly, “Bulk Deposit” for Regional Rural Banks would now mean Single Rupee term deposits of Rupees one crore and above. However, on Thursday (October 26, 2023), the Central Bank (RBI) decided to enhance the bulk deposit limit for Regional Rural Banks. For Regional Rural Banks (RRBs), single Rupee term deposits of Rupees fifteen lakhs have been treated as bulk deposits. In terms of Master Direction – Reserve Bank of India (Interest Rate on Deposits) Directions, “Bulk Deposit” means, a Single Rupee term deposit of Rupees two crore and above for Scheduled Commercial Banks (excluding Regional Rural Banks) and Small Finance Banks.
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