New Enroll in RBI Grade B New Batch - Starts on May 21

    Question

    The Reserve Bank of India (RBI) has increased the

    threshold limit of non-callable deposits for providing more flexibility to depositors. The threshold limit has been increased to how much from Rs.15 lakh?
    A Rs.85 lakh Correct Answer Incorrect Answer
    B Rs.91 lakh Correct Answer Incorrect Answer
    C Rs.1 crore Correct Answer Incorrect Answer
    D Rs.1.2 crore Correct Answer Incorrect Answer
    E None of these Correct Answer Incorrect Answer

    Solution

    The Reserve Bank of India (RBI) has increased the threshold limit of non-callable deposits to Rs 1 crore from Rs 15 lakh now, a move that would provide more flexibility to depositors.  This means all domestic term deposits accepted from individuals for an amount of Rs 1 crore and below will have premature withdrawal facility. These new norms for commercial and co-operative banks are applicable with immediate effect.

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