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

Notification Marquee

RbiAnnouncementWeb

Asset Publisher

Back

Published on October 26, 2023

LISTEN

PDF ( 236059 )

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

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:

Single Rupee term deposits of Rupees two crore and above for Scheduled Commercial Banks (excluding Regional Rural Banks) and Small Finance Banks.
Single Rupee term deposits of Rupees fifteen lakhs and above for RRBs.

2. On a review, it has been decided to enhance the bulk deposit limit for Regional Rural Banks. Accordingly, “Bulk Deposit” for Regional Rural Banks would now mean Single Rupee term deposits of Rupees one crore and above. The relevant sections of the Master Direction as amended are indicated in the Annex.

3. All other instructions in this regard shall remain unchanged.

Yours faithfully,

(Sunil T. S. Nair)
Chief General Manager

Enclosure: As above

ANNEX

Amendments to Master Directions
Sl. No.	Existing Section	Amended Section
A. Master Direction – Reserve Bank of India (Interest Rate on Deposits) Directions, 2016 dated March 03, 2016 (Updated as on September 16, 2022)
Para 3 (a) (i)	Definitions (a) In these Directions, unless the context otherwise requires, the terms herein shall bear the meanings assigned to them below: (i) “Bulk Deposit” means: i. Single Rupee term deposits of Rupees two crore and above for Scheduled Commercial Banks (excluding Regional Rural Banks) and Small Finance Banks. ii. Single Rupee term deposits of Rupees fifteen lakh and above for RRBs.	Definitions (a) In these Directions, unless the context otherwise requires, the terms herein shall bear the meanings assigned to them below: (i) “Bulk Deposit” means: i. Single Rupee term deposits of Rupees two crore and above for Scheduled Commercial Banks (excluding Regional Rural Banks) and Small Finance Banks. ii. Single Rupee term deposits of Rupees one crore and above for RRBs.