Question

According to RBI guidelines, the term “Bulk Deposit” is used for single Rupee Term Deposit of ____
1. Rs. 25 lac and Above
2. Rs. 75 lac and Above
3. Rs. 1 crore and Above
4. Rs. 50 lac and Above

Answer 1

Correct Answer - Option 3 : Rs. 1 crore and Above

The correct answer is Rs. 1 crore and Above.

• According to RBI guidelines, the term “Bulk Deposit” is used for a single Rupee Term Deposit of Rs. 1 crore and above.
• Getty Images RBI also proposed that banks would maintain their bulk deposit interest rate cards in the core banking system for supervisory review.
• However, in 2016 RBI has increased this limit from 1 crore to 2 crores. 
• Now, "Bulk Deposit” means:
  • Single Rupee term deposits of Rupees two crore and above for Scheduled Commercial Banks (excluding Regional Rural banks) and Small Finance Banks.
  • Single Rupee term deposits of Rupees fifteen lakhs and above for RRBs.

• Present Governor of RBI - Shaktikanta Das
• The head office of RBI is in Mumbai.
• RBI has four zonal offices in Mumbai, Kolkata, Delhi, and Chennai.
• RBI has 19 regional offices.