In terms of extant instructions, banks have been given discretion to offer differential rate of interest on the bulk deposits as per their requirement and Asset-Liability Management projections. Now, RBI has been decided to revise the definition of bulk deposits and provide operational freedom to banks in raising these deposits.
from taxmann.com News https://www.taxmann.com/topstories/222330000000018025/rbi-revises-definition-of-‘bulk-deposits’-provides-freedom-to-bank-in-raising-deposits.aspx
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