RBI’s New Proposals to Boost Financial Security
On 7th June, 2024, the Reserve Bank of India (RBI) unveiled a series of developmental and regulatory policy proposals to enhance India’s financial ecosystem’s security, efficiency, and inclusivity.
What are the New Proposals?
Revised Bulk Deposits Limit
- To streamline financial operations, the RBI plans to revise the definition of bulk deposits for Scheduled Commercial Banks (SCBs) and Small Finance Banks (SFBs).
- The proposed revision will raise this limit to Rs 3 crore for SCBs and SFBs.
- Additionally, for local area banks, the bulk deposit limit will be set at Rs 1 crore, which will be aligned with the limit for ....
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