Bulk deposit limit enhanced to Rs. 1 crore for large UCBs

The Reserve Bank of India (RBI) has decided to enhance the bulk deposit limit for large urban co-operative banks (UCBs) to Rs. 1 crore and above from the current Rs. 15 lakh and above.

Specifically, the new bulk deposit limit applies to UCBs in the Tier 3 (with deposits more than Rs. 1,000 crore and up to Rs. 10,000 crore) and Tier 4 (with deposits more than Rs. 10,000 crore) categories.