RBI hikes limit of bulk deposits for banks, FD investors to gain

The Reserve Bank of India (RBI) has decided to revise the definition of bulk deposits as 'Single Rupee term deposits of ₹3 crore and above' for scheduled commercial banks and small finance banks, central bank Governor Shaktikanta Das said on Friday. A bank FD of ₹2 crore and above is considered a bulk FD currently.