Page 2 - Overdraft Facility News Today

Jana Small Finance Bank: Under this facility, up to 90 per cent of the FD value can be availed as OD

RBI relaxes overdraft facility for state govts; raises maximum OD tenor to 50 days File photo The Reserve Bank of India announced relaxations with regard to availment of Overdraft (OD) facilities. This is being done to enable the State Governments to better manage their fiscal situation in terms of their cash-flows and market borrowings. The maximum number of days of OD in a quarter is being increased from 36 to 50 days and the number of consecutive days of OD from 14 to 21 days. This facility ...