What is the new and old limit The Reserve Bank on Thursday said banks will have to offer premature withdrawal facility on all term deposit...
What is the new and old limit
The Reserve Bank on Thursday said banks will have to offer premature withdrawal facility on all term deposits of up to ₹1 crore.
Raising the limit from ₹15 lakh.
The order have come into force with immediate effect.
If a depositor has term deposits in multiple banks, the total amount of all the term deposits should not exceed the prescribed limit.
The RBI has also issued guidelines to banks on how to calculate the limits on term deposits.
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