Senior Citizens Savings Scheme, 2004 - Account Transfer - Accounting Procedure - ആർബിഐ - Reserve Bank of India
Senior Citizens Savings Scheme, 2004 - Account Transfer - Accounting Procedure
RBI/ 2007-08/ 285 April 17, 2008 The General Manager Dear Sir, Senior Citizens Savings Scheme, 2004(SCSS) – Transfer of accounts from one Agency Bank to Another Agency Bank / Post Office- Accounting Procedure Please refer to our Circular RBI / 2005-06 / 355 with reference DGBA. CDD. No. H- 15704 / 15.15.001/ 2005-06 dated April 12, 2006, on the captioned subject. 2. In continuation thereof, we advise that the matter concerning accounting procedure to be followed for transfer of accounts under SCSS, from one Agency Bank to another Agency Bank / Post Office was examined by the Ministry of Finance, GOI, who have, vide their letter No.F.15/8/2005/NS-II/ Vol-II dated November 1, 2007, conveyed their approval for adopting the same procedure for inter Agency bank/ Post Office transfer of accounts under SCSS as is being followed for PPF scheme, subject to the payment of transfer fee as applicable under the relevant rules of the captioned scheme. An illustrative list of procedures to be followed in this regard is given in the Annex. 3. The contents of this circular may be brought to the notice of the designated banks/ branches for information and compliance. 4. Please acknowledge receipt.
Yours faithfully, (Imtiyaz Ahmad) Illustrative list of steps to be followed for transfer of SCSS accounts (Ref.: i) Our circular No.CO.DT.SS.19/ 966/ 88-89 dated September 10, 1988 in respect of PPF account transfer (ii) Our circular CO.DT. No.15.02.001/ H-3484-3520/ 2004-05 dated October 7, 2004, forwarding GOI Notification G.S.R. 490(E) dated August 2, 2004 and (iii) Government of India letter No.F.15/8/2005/NS-II/ Vol-II dated November 1, 2007) |