RBI's New Directive for Digital Deposits

The Reserve Bank of India (RBI) has issued a directive requiring banks to apply an additional 2.5% liquidity buffer rate to deposits made through internet and mobile banking by retail and small business customers. This measure, effective from April 1 next year, aims to mitigate potential risks during periods of financial stress.

In recent times, there have been instances where depositors rapidly withdrew or transferred funds using digital channels in stressful situations, prompting the RBI to take preemptive action to safeguard the banking sector's stability.

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