The RBI on Monday directed banks to set aside 2.5 per cent of additional liquidity as a buffer on deposits of retail and small business customers with internet and mobile banking facilities from April 1 next year to avoid any potential risks during times of stress.
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RBI New Rules: The Reserve Bank of India (RBI) on Monday directed banks to set aside 2.5 per cent of additional cash as a buffer on deposits of retail and small business customers with internet and mobile banking facilities from April 1 next year to avoid any potential risks during times of stress.
In July last year, the RBI had proposed an additional five percent ‘run-off factor’. This means the percentage of deposits that the bank expects to be withdrawn in times of stress. In some countries, it was found that in a situation of financial stress, depositors withdrew their money immediately using digital banking.
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