RBI changes bulk deposit definition for commercial banks, SFBs to Rs 3 crore

Das also defined the bulk deposit limit for the regional rural banks RRBs as single rupee term deposits of Rs 1 crore and above.

The Reserve Bank of India (RBI) on June 7 changed the definition of bulk deposits for scheduled commercial banks and small finance banks (SFB) to Rs 3 crore.

“On a review of bulk deposit limits for banks, it is proposed to revise the definition of bulk deposits as single-rupee term deposit of Rs 3 crore and above for scheduled commercial banks and SFBs, excluding regional rural banks,” RBI Governor Shaktikanta Das said in his monetary policy committee (MPC) statement.

Earlier, an October 2023 notification of the central bank had defined bulk deposits for these banks as Rs 2 crore.

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Das also defined the bulk deposit limit for the regional rural banks RRBs as single rupee term deposits of Rs 1 crore and above.

On June 7, the Monetary Policy Committee (MPC) of the Reserve Bank of India decided to keep the repo rate unchanged at 6.5 percent with a majority of 4:2, the governor said at the second bi-monthly monetary policy for the current financial year, adding that the central bank has decided to maintain its withdrawal of accommodation stance.

"The pattern of world crisis continues, but India is seeing positive growth. But we need to stay vigilant against new challenges," Das said.