Deposit of Rs 2 cr or more to qualify as 'bulk'

The RBI on Thursday decided to raise the criteria for 'bulk deposits' for banks to Rs 2 crore from the current Rs 1 crore, to provide more operational freedom to lenders to raise funds. 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.

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