Following a comprehensive review, the Reserve Bank of India (RBI) has opted to increase the bulk deposit threshold for Scheduled Primary (Urban) Co-operative Banks in Tier 3 and 4.
The new limit is set at Rs 1 crore and above, a significant rise from the previous Rs 15 lakh and above stipulation outlined in the Master Direction. As per the revised regulatory framework, the term “Bulk Deposit” for Primary (Urban) Co-operative Banks now refers to single Rupee term deposits of Rs 1 crore and above for Scheduled UCBs categorized as Tier 3 and 4 UCBs.
For all other UCBs (excluding Scheduled UCBs in Tier 3 and 4), the threshold for single Rupee term deposits is Rs 15 lakh and above, as specified in a circular issued by the RBI.