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RBI: Allow premature withdrawal of deposits
Credit: IndiaTimes- Published on October 27, 2023
The RBI has said that henceforth, banks must allow pre-mature withdrawals on all bank deposits up to Rs 1 crore. The central bank has hiked the minimum limit for 'non-callable' fixed deposits to Rs 1 crore from Rs 15 lakhs earlier. RBI had earlier allowed banks to offer higher rates on unbreakable fixed deposits that could not be...