Declaration of dividend by UCBs - RBI - Reserve Bank of India
Declaration of dividend by UCBs
RBI/2008-09/497 June 15, 2009 To Dear Sir / Madam Declaration of dividend by UCBs Please refer to our circular BSD.IP.PCB.16/12.05.03/2003-04 dated September 19, 2003 on the captioned subject advising the criteria for declaration of dividend by UCBs. As per the extant instructions, UCBs classified in grade other than Grade II to IV may declare dividend without prior approval of the Reserve Bank subject to certain conditions. UCBs classified in Grade II should obtain prior permission of the Reserve Bank for declaration of dividend. Yours faithfully, (A, K. Khound) |