October 17, 2017
All Agency Banks
Gold Monetisation Scheme, 2015
Please refer to DGBA circular DGBA.GAD.No.2294/15.04.001/2016-17 dated March 6, 2017 read with RBI Master Direction No.DBR.IBD.No.45/23.67.003/2015-16 dated October 22, 2015 (updated up to March 31, 2016) on the above subject.
2. It has been decided that reimbursement of payments made by banks, relating to Medium and Long Term Government Deposit (MLTGD), will be made by Central Account Section (CAS), Nagpur, RBI.
3. Accordingly, banks are advised to pay immediately the interest amount already due to the depositors and to take note that, in future, payment of interest to the depositors is to be made on the due dates. After making payments, the banks may raise claim to Government through RBI (CAS, Nagpur).
(D J Babu)
Deputy General Manager