After a review, the Reserve Bank of India (RBI) has decided to enhance the bulk 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 meaning of bulk deposits as per a previous Master Direction.
“Accordingly, “Bulk Deposit” for Primary (Urban) Co-operative Banks would now mean: Single Rupee term deposits of Rupees one crore and above for Scheduled UCBs categorised as Tier 3 and 4 UCBs under the revised regulatory framework. and Single Rupee term deposits of Rupees fifteen lakh and above for all other UCBs (i.e., other than Scheduled UCBs in Tier 3 and 4),” the RBI said in a circular.
