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RBI/2018-19/128
DBR.DIR.BC.No.27/13.03.00/2018-19
February
22, 2019
All Scheduled Commercial Banks
(excluding Regional Rural Banks)
All Small Finance Banks
Dear Sir/Madam
Review of Instructions on Bulk
Deposit
In terms of extant instructions,
banks have been given discretion to offer differential rate of interest on
the bulk deposits as per their requirements and Asset-Liability Management
(ALM) projections.
2. In this connection, as
announced in the ‘Statement on Developmental and
Regulatory Policies’ of the Sixth
Bi-monthly Monetary Policy Statement dated February 07, 2019, it has
been decided to revise the definition of ‘bulk deposits’ and provide
operational freedom to banks in raising these deposits.
3. Accordingly, instructions
contained in Master Directions on Interest Rate on Deposits issued
vide DBR.Dir.No.84/13.03.00/2015-16 dated
March 03, 2016 stand amended as under:
3.1 The existing paragraph No.
3(a)(i)(i) on bulk deposit of the aforesaid Master Direction stands
replaced as under:
(i) Single Rupee term deposits
of Rupees two crore and above for Scheduled commercial Banks (excluding
Regional Rural banks) and Small Finance Banks.
3.2 In the existing paragraph No.
4(c), the following shall be added:
The banks shall maintain the
bulk deposit interest rate card in their Core banking system to facilitate
supervisory review.
Yours faithfully,
(Dr. S.K. Kar)
Chief General Manager
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