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RBI has released bulk deposit limits for scheduled commercial banks, regional rural banks, small finance banks, and local area banks. What is the minimum limit of bulk deposits for local area banks?

1. Rs 5 crore
2. Rs 1 crore
3. Rs 3 crore
4. Rs 2 crore

Correct answer: Rs 1 crore

Solution

RBI has prescribed different bulk deposit thresholds for different categories of banks. For local area banks, the minimum bulk deposit limit is Rs 1 crore.

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