BANKER TO BANKS

Like individual consumers, businesses and organisation of all kinds, banks need their own mechanism to transfer funds and settle inter-bank transaction-such as borrowing from and lending to other banks-and customer transactions. As the banker to banks, the Reserve Bank fulfills this role.

Notifications

(169 kb)
Date : Jul 19, 2018
Interest rates for Small Savings Schemes

RBI/2018-19/22
DGBA.GBD.123/15.02.005/2018-19    

July 19, 2018

The Chairman/Chief Executive Officer
Agency Banks handling Small Saving Schemes

Dear Sir

Interest rates for Small Savings Schemes

Please refer to our circular DGBA.GBD.2573/15.02.005/2017-18 dated April 12, 2018 on the above subject. The Government of India, has vide their Office Memorandum (OM) No.F.No.01/04/2016–NS dated July 2, 2018 has stated that the interest rates on Small Savings Schemes for the second quarter of financial year 2018-19 starting 1st July, 2018 and ending September 30, 2018 shall remain unchanged from those notified for the first quarter of FY 2018-19 (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

(A.Sidhaarth)
Manager

Encl : as above

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