Skip to main content
Click here to Visit the RBI’s new website

BBBPLogo

BANKER TO GOVERNMENTS AND BANKS

Like individuals, businesses and banks, the Governments also need a banker to carry out their financial transactions in an efficient and effective manner. Managing Government banking transactions is a key function assigned to the Reserve Bank. On the other hand, banks need their own mechanism to transfer funds and settle inter-bank transactions such as borrowing from and lending to other banks and customer transactions. As the Banker to banks, the Reserve Bank fulfills this role.

(166 kb)
Date : Oct 12, 2017
Interest rates for Small Savings Schemes

RBI/2017-18/74
DGBA.GBD.954/15.02.005/2017-18

October 12, 2017

The Chairman/Chief Executive Officer
Agency Banks handling Public Provident Fund, Kisan Vikas Patra- 2014,
Sukanya Samriddhi Account, Senior Citizen Savings Scheme-2004

Dear Sir

Interest rates for Small Savings Schemes

Please refer to our circular DGBA.GBD.69/15.02.005/2017-18 dated July 13, 2017 on the above subject. The Government of India, had vide their Office Memorandum (OM) No.F.No.01/04/2016–NS dated September 29, 2017 has stated that the interest rates on small savings schemes for the third quarter of financial year 2017-18 starting 1st October, 2017 shall remain unchanged from those notified for the second quarter of FY 2017-18 (copy enclosed).

2. The contents of this circular may be brought to the notice of the branches of your bank operating Government Small Saving Schemes for necessary action. These should also be displayed on the notice boards of your branches for information of the subscribers to these Schemes.

Yours faithfully,

(Harsha Vardhan)
Manager
Encl : as above
2024
2023
2022
2021
2020
2019
2018
2017
2016
2015
Archives
Top