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Master Circular on Interest Rates on Rupee Deposits

RBI/ 2004 -05 /183
UBD.No.BPD.MC.No.11 /13.01.00/2004-05

September 17 , 2004

Chief Executive Officers of
All Primary (Urban) Co-operative Banks

Dear Sir,

Master Circular

Interest Rates on Rupee Deposits

Please refer to our Master Circular UBD.BPD(PCB)MC.No.9/13.01.00/2003-04 dated March 16, 2004 on the captioned subject. The enclosed Master Circular consolidates and updates all the instructions/guidelines on the subject up to June 30, 2004.

2. Please acknowledge receipt of this Master Circular to the Regional Office concerned of this Department.

Yours faithfully,

(N.S.Vishwanathan)
Chief General Manager

Encl: As above.


Master Directive

Interest Rates on Rupee Deposits

Contents

1. Introduction

2. Definitions

3. Rate of Interest Payable on Current Accounts

4. Rate of Interest Payable on Savings Deposits

5. Interest Rates on Term Deposits

6. Additional Interest Payable

6.1 To Non-Staff Depositors

6.2 To Bank's Staff and their Exclusive Associations

6.3 To Managing Director/Chief Executive of the Bank

6.4 To Senior Citizens

7. Payment of Interest on Term Deposit Maturing on Sunday/Holiday/Non-Business Working Day

8. Premature Withdrawal of Term Deposit

9. Conversion of a Term Deposit, a Deposit in the form of Daily Deposit, or Recurring Deposit for Reinvestment in Term Deposit

10. Overdue Deposits

11. Interest Payable on a Deposit Account of Deceased Depositor

12. Rounding-off of Transactions

13. Margin on Advances against Term Deposits

14. Addition or Deletion of the Name(s) or Split into Joint Account Holders

15. Transfer/Split up of the Deposit on the Death of an Account Holder

16. Exemptions

17. Prohibitions

Annexure 1

Annexure 2

Annexure 3

Annexure 4

Appendix


Master Circular

Interest Rates on Rupee Deposits

1. Introduction

In exercise of the powers conferred by Sections 21 and 35A read with Section 56 of the Banking Regulation Act, 1949 , the Reserve Bank of India, being satisfied that it is necessary and expedient in the public interest so to do, has issued directives that no primary (urban) co-operative bank shall pay interest on rupee deposits of money accepted by it or renewed by it, except in accordance with rates as specified in the Annexures 1 & 2, subject to the conditions specified in the paragraphs below.

2. Definitions

(i) 'Demand Liabilities' and 'Time Liabilities' shall have the same meaning as defined in Section 18 read with Section 56 of the Banking Regulation Act, 1949 ;

(ii) 'Demand Deposit' shall mean a deposit received by the bank which is withdrawable on demand;

(iii) 'Saving Deposit' shall mean a form of demand deposit which is a deposit account whether designated as 'Saving Account', 'Saving Bank Account', 'Saving Deposit Account' or other account by whatever name called, which is subject to the restrictions as to the number of withdrawals as also the amount of withdrawals permitted by the bank during any specified period;

(iv) 'Term Deposit' shall mean a deposit received by the bank for a fixed period and which is withdrawable only after the expiry of the said fixed period and shall also include deposits such as Recurring/Cumulative/ Annuity/Reinvestment deposits, Cash Certificates, and so on;

(v) 'Notice Deposit' shall mean term deposit for specific period but withdrawable on giving at least one complete banking day's notice;

(vi) 'Current Account' shall mean a form of demand deposit wherefrom withdrawals are allowed any number of times depending upon the balance in the account or upto a particular agreed amount and shall also be deemed to include other deposit accounts which are neither Savings Deposit nor Term Deposit;

(vii) 'Budgetary Allocation' shall mean the allocation of funds by the Government made through the budget, wherein all the Government's expenditure is reflected. Any institution, irrespective of the fact whether it is a Government Department, Semi-Government or Quasi-Government Body, which receives grants, loans or subsidies from the Government is said to depend on budgetary allocation. Government grants to institutions are also in the nature of budgetary allocation. Government's subscription to the share capital of these institutions also forms part of the budgetary allocation. Local bodies like Municipal Corporations, Zilla Parishads, Taluka Panchayats and Gram Panchayats are given grants in the nature of 'compensation and assignments', which also form part of budgetary allocation, although taxes collected by these bodies are not covered under the definition and scope of budgetary allocation of Central and State Governments;

(viii) 'a member of the bank’s staff' means a person employed on a regular basis, whether full-time or part-time, and includes a person recruited on probation or employed on a contract of a specified duration or on deputation and an employee taken over in pursuance of any scheme of amalgamation, but does not include a person employed on casual basis;

(ix) 'a retired member of the bank's staff' means an employee retiring whether on superannuation or otherwise, but does not include an employee retired compulsorily or in consequence of disciplinary action;

(x) 'family' in the context of the members of staff means and includes the spouse of the member/retired member of the bank's staff and the children, parents, brothers and sisters of the member/retired member of the bank's staff who are dependent on such member/retired member, but shall not include legally separated spouse;

(xi) 'political party' means an association or body of individual citizens of India, which is, or is deemed to be registered with the Election Commission of India as a political party under the Election Symbols (Reservation and Allotment) Order, 1968 as in force for the time being.

Note:NRO/NRE deposits may be accepted only by such banks as have been specifically authorised by RBI in this regard.

3. Rate of interest payable on Current Accounts

Primary (urban) co-operative banks may, at their discretion, pay interest at a rate not exceeding half per cent per annum on current accounts. Interest on current account balances shall be calculated on a daily product basis and paid on quarterly or longer rests.

4. Rate of Interest Payable on Savings Deposits

    1. Banks should pay interest on domestic & NRE savings deposits at the rates specified in the Annexures 1 & 2 to this Master Circular.
    2. Interest should be calculated on the minimum balance to the credit of the deposit account during the period from the 10th to the last day of each calendar month and credited to the account only when it is Re. 1/- or more. Banks may follow the practice of reckoning the product to the nearest rupee uniformly as suggested by the Indian Banks' Association to its members.
    3. Such interest should be paid at quarterly or longer rests

5(A) interest rates on term deposits OF NOT LESS THAN 15 DAYS (7 DAYS IN THE CASE OF A TERM DEPOSIT OF RS.15 LAKH & ABOVE AND 1 YEAR IN ONE CASE OF NRE DEPOSIT)

Banks should pay interest at the rates specified in annexure 1 & 2 of this Circular. Banks are free to offer floating rate of interest at their discretion, clearly linked to an anchor rate for domestic term deposits and with an upper cap as indicated in Annexure 2 of this Master Circular for NRE deposits. Prior approval of the Board of Directors should be obtained for fixing interest rates of various maturities.

    1. Banks are free to fix interest rates on domestic term deposits.
    2. The banks are required to offer uniform rates on deposits below Rs.15 lakhs for the same maturity.
    3. In case of deposits of Rs 15 lakh and above banks may discriminate in the matter of rate of interest between one deposit and another, accepted on the same date and for the same maturity, on the basis of the size of deposit.
    4. Banks are required to disclose in advance the schedule of interest rates payable on deposits including deposits on which differential rate of interest will be paid by the banks. Interest rates paid by a bank should be as per the schedule and the same shall not be subject to negotiation between the bank and the depositor for domestic deposits.
    5. Banks are required to review their interest rate structure on domestic term deposits of different maturities and take appropriate action to make them comparable with the rates offered by the commercial banks.

B. METHOD OF CALCULATION OF INTEREST ON TERM DEPOSITS

Indian Banks Association (IBA) code for banking practice is issued by IBA for uniform adoption by the Member Banks. Code is intended to promote good banking practices by setting out minimum standards which member banks will follow in their dealings with customers. IBA, for the purpose of calculation of interest on domestic term deposit, Indian Banks Association (IBA) have prescribed that on deposits repayable in less than three months or where the terminal quarter is incomplete, interest should be paid proportionately for the actual number of days reckoning the year at 365 days. It has been reported to us that some of the banks are adopting the model of reckoning the year at 366 days/365 days in Leap year and in other years respectively. While banks are free to adopt their methodology, they should provide information to their depositors about the manner of calculation of interest appropriately while accepting the deposits and display the same at their branches.

6. Additional Interest Payable

6.1 To Non-Staff Depositors

(i) A primary (urban) co-operative bank may, at its discretion, allow additional interest at a rate not exceeding 1% per annum on all local rupee (domestic) savings deposits, as well as on savings accounts opened by resident depositor(s) which become ordinary non-resident accounts (NRO) on the depositor(s) going abroad.

(ii) While the banks have been permitted to offer, at their discretion, additional interest not exceeding 1% and ½ % per annum on the saving bank deposits and current account deposits respectively. The discretionary provisions generally lead to increase in the cost of deposits. The banks should, therefore, endeavour :

(a) not to pay any additional interest on the saving bank accounts over and above what is payable by commercial banks ; and

(b) not to pay interest on current accounts.

6.2 To Bank's Staff and their Exclusive Associations

A bank may, at its discretion allow additional interest at a rate not exceeding one per cent per annum over and above the rate of interest stipulated in the Annexures 1 & 2 and the additional interest payable/paid as per paragraph 61 :

(A) In respect of a savings or a term deposit account opened in the name of -

(i) a member or retired member of the bank's staff, either singly or jointly with any other member or members of his/her family; or

(ii) the spouse of a deceased member or a deceased retired member of the bank's staff; and

(iii) an association or a fund, members of which are the members of the bank's staff,

Provided that -

the bank shall obtain a declaration from the depositor concerned, that the monies deposited or which may, from time to time, be deposited into such account, shall be monies belonging to the depositor as stated in Clauses (i) to (iii) above.

Provided further that -

(a) in the case of employees taken on deputation from another bank, the bank from which they are deputed may allow additional interest in respect of the savings or term deposit account opened with it, during the same period of deputation;

(b) in the case of persons taken on deputation for a fixed duration, or on a contract of a fixed duration, the benefit shall cease to accrue on the expiry of the term of deputation or contract, as the case may be;

(B) Payment of additional interest shall be subject to the following conditions, namely :

(i) The additional interest shall be payable only so long as the person continues to be eligible for the same and in case of his ceasing to be so eligible, till the maturity of the deposit, in the case of a term deposit account.

(ii) In the case of employees taken over pursuant to the scheme of amalgamation, the additional interest shall be allowed only if the interest at the contractual rate together with the additional interest does not exceed the rate which could have been allowed if such employees were originally employed by the bank.

(C) Bank employees' federations in which bank employees are not direct members shall not be eligible for additional interest.

6.3 To Managing Director/Chief Executive of the Bank

A bank may, at its discretion, pay additional interest not exceeding one per cent per annum over and above the rate of interest stipulated in the Annexures 1 & 2 and the additional interest paid/payable as per paragraph 6.1 on deposits accepted/renewed from Managing Director of the bank; provided he acts as the Chief Executive of the bank drawing regular salary from the bank and he is not eligible to get similar benefit under paragraph 6.2 above. Additional interest on the deposits of Managing Director of the bank as above shall be payable only during the period of his tenure as Managing Director.

6.4 To Senior Citizens

(i) Banks, with the permission of their Board, may offer higher rate of interest on the term deposits of any size, to senior citizens.

(ii) The scheme of term deposits of senior citizens shall incorporate simplified procedure for automatic transfer of deposits to nominees in the event of the death of the depositor.

7 Payment of Interest on Term Deposit Maturing on Sunday/Holiday/Non-Business Working Day

In respect of a term deposit maturing for payment on a Sunday or a holiday or a non-business working day, a bank shall pay interest till the next working day at the originally contracted rate, -

(i) on the maturity value in the case of reinvestment deposits and recurring deposits, and

(ii) on the original principal amount in the case of ordinary term deposit on the basis of 365 days in a year.

8 Premature Withdrawal of Term Deposit

8.1 A primary (urban) co-operative bank, on request from the depositor, should allow withdrawal of a term deposit before completion of the period of the deposit agreed upon at the time of making the deposit. Banks are free to determine their own penal interest rates for premature withdrawal of term deposits.

8.2 Banks should ensure that the depositors are made aware of the applicable penal rate along with the deposit rate.

8.3 Banks, at its discretion, may disallow premature withdrawal of large deposits held by entities other than individuals and Hindu Undivided Families. Bank should, however, notify such depositors of its policy of disallowing premature withdrawal in advance, i.e., at the time of accepting such deposits.

    8.4 Conversion of NRE deposit into FCNR (B) deposit and vice versa before maturity by bank allowed to maintain FCNR(B) deposits, shall be subject to the penal provision relating to premature withdrawal.

      9. Conversion of a Term Deposit, a Deposit in the form of Daily Deposit, or Recurring Deposit for Reinvestment in Term Deposit

      9.1 A bank, on request from the depositor, should allow closure of a term deposit, a deposit in the form of daily deposit, or recurring deposit, to enable the depositor to immediately reinvest the amount lying in the aforesaid deposits with the same bank in another term deposit.

      9.2 A bank should pay interest in respect of such term deposit in the manner indicated in paragraph 8.1 above without reducing the interest by way of penalty as stated in the said paragraph provided that the deposit remains with the bank after reinvestment for a period longer than the remaining period of the original contract.

      10 Overdue Deposits

      All aspects concerning renewal of overdue deposits may be decided by the banks themselves, subject to their Boards laying down a transparent policy in this regard and the customers being notified of the terms and conditions of renewal, including interest rates, at the time of acceptance of deposits. The policy should be non-discretionary and non-discriminatory.

      11. Interest Payable on a Deposit Account of Deceased Depositor

      The criterion for payment of interest on term deposit standing in the name/s of

      (i) a deceased individual depositor or

      (ii) two or more joint depositors, where one of the depositors has died to be paid to the legal heir/s/representative/s/nominee/s has been left to the discretion of the individual banks, subject to their Board of Directors, laying down a transparent policy in this regard and the customers being notified at the time of acceptance of deposits. The policy should be non-discretionary and non-discriminatory.

      12 ROUNDING OFF OF TRANSACTIONS

      Interest payable on deposits and interest chargeable on advances shall be rounded off to the nearest rupee; i.e., fraction of 50 paise and above shall be rounded off to the next higher rupee and fraction of less than 50 paise shall be ignored.

      13. Margin on Advances against Term Deposits

      The decision regarding maintenance of margin on any financial accommodation allowed by the banks against the security of term deposit, has been left to the individual banks, subject to their Board laying down a transparent policy in this regard.

      14 Addition or Deletion of the Name (s) or Split into Joint Account Holders

      A primary (urban) co-operative bank may, at its discretion, and at the request of the joint account holders of a deposit, if any,

      (i) allow the addition or deletion of name(s) of joint account holders, if the circumstances so warrant; or

      (ii) allow an individual depositor to add the name of another person as a joint account holder; or

      (iii) allow splitting up of the joint deposit in the name of each of the joint account holders only;

      Provided that in no case, shall the amount, or duration of the original deposit, undergo change in any manner in case the deposit is a term deposit.

      15 Transfer/Split up of the Deposit on the Death of an Account Holder

      On the death of a depositor, a primary (urban) co-operative bank may allow the deposit to be held in the name/s of one or more legal heirs, or legal representatives, or nominees of the depositor, either jointly in their names, or along with other persons, or separately in their names by splitting up the deposits.

      16 Exemptions

      Nothing contained in the directives on interest rates on deposits shall apply to deposits received by a primary (urban) co-operative bank from

      (i) the institutions permitted to participate in the Call/Notice Money Market both as a lenders and borrowers (Annexure 3).

      (ii) for a period not exceeding 14 days from institutions permitted to participate in Call/Notice Money Market only as tenders (Annexure 4).

      (iii) from any depositor under 'Foreign Currency (Non-resident) Account Scheme'

      17 Prohibitions

      17.1 No bank shall -

      (i) discriminate in the matter of interest paid on deposits, between one deposit and another, accepted on the same date and for the same maturity, whether such deposits are accepted at the same office or at different offices of the bank, except in respect of term deposit schemes specifically meant for senior citizens offering higher and fixed rates of interest as compared to normal deposits of any size and single term deposit of Rs.15 lakh and above on which varying rates of interest may be permitted on the basis of size of deposits.

      (ii) pay brokerage on deposits in any form to any individual, firm, company, association, institution or any other person except -

      (a) commission paid to agents employed to collect door-to-door deposits under a special scheme, and

      (b) incentives granted to staff members as approved by the Reserve Bank of India from time to time.

      (iii) employ/engage any individual, firm, company, association, institution or any other person for collection of deposit or for selling any other deposit linked products on payment of remuneration or fees or commission in any form or manner, except to the extent permitted in sub-clause (a) of clause (ii) above.

      (iv) launch prize/lottery/free trips (in India and/or abroad), etc. oriented deposit mobilisation schemes.

      (v) resort to unethical practices of raising of resources through agents/third parties to meet the credit needs of the existing/prospective borrowers or to grant loans to the intermediaries based on the consideration of deposit mobilisation.

      (vi) issue any advertisement/literature soliciting deposits from public highlighting only the compounded yield on term deposits without indicating the actual rate of simple interest offered by bank for the particular period. Simple rate of interest per annum for the period of deposit shall be indicated invariably.

      (vii) accept deposits from/at the instance of private financiers or unincorporated bodies under any arrangement which provides for either issue of deposit receipt/s favouring client/s of private financiers or giving of an authority by power of attorney, nomination or other-wise, for such clients receiving such deposits on maturity.

      (viii) grant advances against fixed deposit receipts or other term deposits of other banks.

      17.2 Accounts in the Names of Certain Bodies/Organisations

      (i) No primary (urban) co-operative bank shall open a savings deposit account in the name of Government departments/bodies depending upon budgetary allocations for performance of their functions/Municipal Corporations or Municipal Committees/ Panchayat Samitis/State Housing Boards/Water and Sewerage/ Drainage Boards/State Text Book Publishing Corporations/Societies/Metropolitan Development Authority/State/ District Level Housing Co-operative Societies, etc. or any political party or any trading/business or professional concern, whether such concern is a proprietary or a partnership firm or a company or an association.

      The above prohibition at (i) will not apply in the case of the following organisations/agencies:

      (a) Small Farmers' Development Agency (SFDA)

      (b) Marginal Farmers' and Agricultural Labourers' Agencies (MFAL)

      (c) Drought Prone Areas Programme (DPAP)

      (d) District Development Authority (DDA)

      (e) District Rural Development Agency/Society (DRDA/DRDS)

      (f) Integrated Tribal Development Agency (ITDA)

      (g) Agriculture Produce Market Committees.

      (h) Khadi and Village Industries Boards.

      (i) Fish Farmers Development Agencies (FFDAs)

      (j) Societies registered under the Societies Registration Act, 1860, or any other corresponding law in force in a State or a Union Territory.

      (k) Companies governed by the Companies Act, 1956 which have been licensed by the Central Government under Section 25 of the said Act, or under the corresponding provision in the Indian Companies Act, 1913 and permitted, not to add to their names the word, 'Limited' or the words 'Private Limited;

      (l) Institutions other than those mentioned in Clause 17.2 (i) above and whose entire income is exempt from payment of income-tax under the Income-tax Act, 1961;

      (m) 'Zilla Parishads/Gram Panchayats only in respect of Jawahar Rojgar Yojana funds'.

      (n) HUF, provided that HUF is not engaged in trading or business activities and if the account is specified in the name of the Kart


      Annexure 1

      Master Circular

      Interest Rates on Rupee Deposits

      Rate of Interest on Deposits
      (Domestic and NRO Deposits)*

      [Vide para 1, 4.1, 6.2(i) & 6.3(i)]

      Category of Account

      Per cent per annum

      (i) Current

      Not exceeding 0.5

      (ii) Savings

      3.5

      (iii) Term Deposits:

      (a) Below Rs. 15 lakh 15 days and over

      (b) Rs. 15 lakh and above 7 days and above

      Free

      Free

      @ Primary (urban) co-operative banks may at their discretion continue to allow additional interest at a rate not exceeding one percent per annum on all savings deposits.

      *Ordinary Non-Resident ( NRO) deposits may be accepted only by such of the banks as have been authorised by RBI in this regard.


      Annexure 2

      Master Circular

      Interest Rates on Rupee Deposits

      Rate of Interest on Deposits
      (NRE Deposits)*

      [Vide para 1, 4.1, 6.2(i) & 6.3(i)]

      Category of Account

      Per cent per annum

      (i) Current

      Nil

      (ii) Savings

      @

      (iii) Term Deposits

      @@


      * Non-Resident (External) Rupee deposits may be accepted only by such of the banks as have been authorised by RBI in this regard.

      @ With effect from close of business in India as on April 17, 2004, the interest rates on NRE Savings deposits should not exceed the LIBOR/SWAP rate for six months maturity on US dollar deposits and may be fixed quarterly on the basis of the LIBOR /SWAP rate of US dollar on the last working day of the preceding quarter. For the quarter April-June 2004, the US dollar LIBOR/SWAP rate as on the last working day of March 2004 would be applicable.

      (ii) Advance aqainst NRE Savings Deposits It is clarified that since the account holder of NRE savings deposits can withdraw savings deposits at any time, banks should not mark any type of lien, direct or indirect, against these deposits.

      @@

      (i) The maturity period of fresh NRE deposits, with effect from 29 April, 2003 will normally be one year to three years. This will also apply to NRE deposits renewed after their present maturity period. In case a particular bank, from its Asset Liability Management point of view, wishes to accept such deposits with maturity of more than 3 years, it may do so provided the interest rate on such long term deposits is not higher than that applicable to 3 year NRE deposits.

      (ii) The interest rates on fresh repatriable NRE deposits for one to three years

      (a) contracted effective July 17, 2003 should not exceed 250 basis points,
      (b) contracted effective close of the business in India on September 15, 2003 should not exceed 100 basis points,
      (c) contracted effective close of the business in india on October 18, 2003 should not exceed 25 basis points above the LIBOR/SWAP rates for US dollar of corresponding maturity ; and those
      (d) contracted effective close of the business in India on April 17, 2004 should not exceed the LIBOR/SWAP rates for US dollar of corresponding maturity.

      (iii) The LIBOR/SWAP rates as on the last working day of the preceding month would form the base for fixing ceiling rates for the interest rates that would be offered effective from the following month.

      (iv) For purposes of operational convenience, the interest rates could be rounded off to nearest decimal point. For example, a computed interest rate of 3.67 per cent would become 3.7 per cent, and 3.64 per cent would become 3.6 per cent.

      (v) The above mentioned interest rates would also apply to renewal of NRE deposits.

      (vi) The interest rates as determined above for 3 years deposits would also be applicable in case the maturity period exceeds 3 years.


      Annexure 3

      Master Circular

      Interest Rates on Rupee Deposits

      {Vide Para: 16(i)}

      List of Institutions permitted to participate in the Cell/Notice/Term Money market both as lenders and borrowers

      1. All Scheduled Commercial Banks

      2. Co-operative banks

      3. Discount and Finance House of India Ltd.

      4. Securities Trading Corporation of India Ltd.

      5. PNB Gilts Ltd.

      6. SBI Gilts Ltd.

      7. Gilt Securities Trading Corporation Ltd.

      8. ICICI Securities and Finance Company Ltd.

      9. ABN Amro Securities (India) Pvt.Ltd.

      10. J.P. Morgan Securities India Pvt.Ltd.

      11. Kotak Mahindra Capital Company (Unlimited).

      12. DSP Merrill Lynch Ltd.

      13. Deutsche Securities (India) Pvt.Ltd.

      14. IDBI Capital Market Services Ltd.

      15. Corpbank Securities Ltd.

      16. HSBC Primary Dealership (India) Pvt.Ltd.

      17. Standard Chartered – UTI Securities India Pvt.Ltd.

      18. Banc of America Securities (India)Pvt. Ltd.

      19. BOB Capital Markets Ltd.

      20. Citicorp Capital Markets Ltd.


      Annexure 4

      Master Circular

      Inter Rates on Rupee Deposits

      {Vide para 16(ii)}

      List of Institutions permitted to participate in the Call/Notice Money Market only as lenders

      1. Life Insurance Corporation of India

      2. Unit Trust of India

      3. General Insurance Corporation of India and its subsidiaries

      4. Industrial Development Bank of India

      5. National Bank for Agriculture and Rural Development

      6. Industrial Credit and Investment Corporation of India Ltd.

      7. Industrial Investment Bank of India

      8. Export Credit and Guarantee Corporation of India Ltd.

      9. SBI Mutual Fund

      10. Canbank Mutual Fund

      11. Industrial Finance Corporation of India

      12. National Housing Bank

      13. Tourism Finance Corporation of India Ltd.

      14. Export-Import Bank of India

      15. LIC Mutual Fund

      16. Small Industries Development Bank of India

      17. BOI Mutual Fund

      18. Indian Bank Mutual Fund

      19. PNB Mutual Fund

      20. GIC Mutual Fund

      21. BOB Mutual Fund

      22. IDBI – Principal Mutual Fund

      23. Birla Mutual Fund

      24. Morgan Stanley Mutual Fund

      25. Shriram Mutual Fund

      26. J.M. Mutual Fund

      27. Pioneer ITI Mutual Fund Pvt.Ltd.

      28. Prudential ICICI Mutual Fund

      29. Alliance Capital Mutual Fund

      30. Zurich India Mutual Fund

      31. Taurus Mutual Fund

      32. Tata Mutual Fund

      33. Reliance Capital Mutual Fund

      34. Jardine Fleming Mutual Fund

      35. H. B. Mutual Fund

      36. Templeton Mutual Fund

      37. Sun F&C Mutual Fund

      38. ITC Threadneedle Mutual Fund

      39. Escorts Mutual Fund

      40. Sundaram Mutual Fund

      41. DSP Merill LYnch Mutual Fund

      42. Kotal Mahindra Mutual Fund

      43. Infrastructure Leasing and Financial Services Ltd. Mutual Fund

      44. Dundee Mutual Fund

      45. ING Savings Trust MUtual Fund

      46. Chola Mutual Fund

      47. Standard Chartered Mutual Fund

      48. HDFC Mutual Fund

      49. ICICI Prudential Life Insurance Company Ltd.

      50. Royal Sundaram Alliance Insurance Ltd.

      51. IFFCO-Tokio General Insurance Company Ltd.

      52. HDFC Standard Life Insurance Company Ltd.


      Appendix

      Master Circular

      Interest Rates on Rupee Deposits

      A. List of Circulars consolidated in the Master Circular

      No.

      Circular No.

      Date

      Subject

      1.

      BPD.PCB.Cir.49/13.01.00/2002-03

      29-04-2003

      Deposits under Non-Resident (External) Rupee (NRE) Accounts Scheme

      2.

      UBD.BPD(PCB)Cir.No.4/13.01.00/2002-03

      17-07-2003

      Interest Rate on Deposits under Non-Resident (External)Rupee Accounts (NRE Accounts)

      3.

      UBD.CO.BPD.No.14/13.01.00/2003-04

      17-09-2003

      Interest rate on deposit under Non-Resident (External) Rupee Account (NRE A/c)

      4.

      UBD.BPD(PCB)Cir.No.20/13.01.00/2003-04

      18-10-2003

      Interest rate on deposit under Non-Resident (External)Rupee A/c (NRE A/c)

      5.

      UBD.BPD(PCB)Cir.No.43/13.01.00/2003-04

      08-04-2004

      Interest rates on rupee deposits held in domestic, ordinary Non-resident (NRO) & Non-Resident External (NRE) A/cs

      6.

      UBD.BPD(PCB)Cir.No.46/13.01.00/2003-04

      17-04-2004

      Interest rates on deposits under Non-Resident (External) Rupee A/c (NRE A/cs)

      7.

      BPD.PCB.Cir.49/13.01.00/2002-03

      29-04-2003

      Deposits under Non-Resident (External) Rupee (NRE) Accounts Scheme

      8.

      UBD.BPD(PCB)Cir.No.4/13.01.00/2002-04

      17-07-2003

      Interest Rate on Deposits under Non-Resident (External) Rupee Accounts (NRE Accounts)

      9.

      UBD.CO.BPD. No.14/13.01.00/2003-04

      17-09-2003

      Interest rate on deposit under Non-Resident (External) Rupee Account (NRE A/c)

      10.

      UBD.BPD(PCB)Cir.No.20/13.01.00/2003-04

      18-10-2003

      Interest rate on deposit under Non-Resident (External) Rupee A/c (NRE A/c)

      11.

      UBD.BPD(PCB)Cir.No.43/13.01.00/2003-04

      08-04-2004

      Interest rates on rupee deposits held in domestic, ordinary Non resident (NRO) & Non Resident External (NRE) A/cs

      12.

      UBD.BPD(PCB)Cir No.46/13.01.00/2003-04

      17-04-2004

      Interest rates on deposits under Non-Resident (External) Rupee A/c (NRE A/cs)

      13.

      UBD.PBD.Dir (PCB)No.42/13.01.00/2000-01

      25-03-03

      Interest Rates on Deposits

      14.

      UBD.No.PCB.Dir.10/13.01.00/2000-01

      19-04-2001

      Interest Rates on Deposits

      15.

      UBD.No.DS.Dir.3/13.01.00/2000-01

      03-01-2001

      Interest Rates on Deposits

      16.

      UBD.No.DS(PCB)CIR.20/13.01.00/ 2000-01

      22-12-2000

      Rate of Interest on Advances against Term Deposits

      17.

      UBD.No.DS.PCB.DIR.10/13.01.00/ 1999-2000

      27-04-2000

      Interest Rates on Deposits

      18.

      UBD.No.DS.PCB.Cir.32/13.01.00/ 1999-2000

      27-04-2000

      Interest Rates on Deposits held under Non-Resident (External) Accounts

      19.

      UBD.No.DS.PCB.CIR.29/13.01-00/ 1999-2000

      01-04-2000

      Interest Rates on Deposits

      20.

      UBD.DS.PCB-DIR.7/13.01-00/1999-2000

      01-07-2000

      Interest Rate on Deposits

      21.

      UBD.DS.2/13.01.00/1999-2000

      21-09-1999

      Interest Rates on Deposit

      22.

      UBD.No.DS.PCB.CIR.9/13.01.00/ 1999-2000

      21-09-1999

      Interest Rates on Deposits

      23.

      UBD.No.DS.PCB.CIR.59/13.01.00/97-98

      26-05-1998

      Interest Rate on Deposits

      24.

      UBD.No.DS.Dir.PCB.14/13.01.00/97-98

      29-04-1998

      Interest Rates on Deposits

      25.

      UBD.No.DS.PCB.CIR.53/13.01.00/97-98

      29-04-1998

      Interest Rate on Deposits

      26.

      UBD.No.DS.PCB.Cir.12/13.01.00/97-98

      21-10-1997

      Interest Rates on Deposits

      27.

      UBD.No.DS.PCB.DIR.5/13.01.00/97-98

      21-10-1997

      Interest Rates on Deposits

      28.

      UBD.No.DS.PCB.DIR.2/13.01.00/97-98

      12-09-1997

      Interest Rates on Deposits under Non-Resident (External) Rupee (NRE) Accounts Scheme

      29.

      UBD.No.DS.CIR.PCB.6/13.01.00/97/ 98

      12-09-1997

      Interest Rates on Deposits under Non-Resident (External) Rupee (NRE) Accounts Scheme

      30.

      UBD.No.DS.PCB.Cir.2/13.01.00/97-98

      17-07-1997

      Interest Rates on Deposits

      31.

      UBD.No.DS.PCB.DIR.26/13.01.00/96-97

      25-06-1997

      Interest Rates on Deposits

      32.

      UBD.No.DSP.CB.DIR.27/13.01.00/96-97

      25-06-1997

      Interest Rates on Deposits under Non-Resident (External) Rupee (NRE) Accounts Scheme

      33.

      UBD.No.DS.PCB.Cir.57/13.01.00/96-97

      25-06-1997

      Interest Rates on Deposits

      34.

      UBD.No.DS.CIR.PCB.58/13.01.00/96-97

      25-06-1997

      Interest Rates on Deposits Under Non-Resident (External) Rupee (NRE) Accounts Scheme

      35.

      UBD.No.DSP.CB.DIR.27/13.01.00/96-97

      25-06-1997

      Interest Rates on Deposits

      36.

      UBD.No.DS.PCB.CIR45/13.01.00/96-97

      19-04-1997

      Interest Rates on Deposits-Premature withdrawal of term deposit.

      37.

      UBD.No.DS.PCB.DIR.20/13.01.00/96-97

      15-04-1997

      Interest Rates on Deposits

      38.

      UBD.No.DS(PCB)Dir.21/13.01.00/96-97

      15-04-1997

      Interest Rates on Deposits

      39.

      UBD.No.DS.CIR.PCB.44/13.01.00/96-97

      15-04-1997

      Interest Rates on Deposits

      40.

      UBD.No.DS.PCB.Cir.21/13.01.00-96/97

      19-10-1996

      Interest Rates on Deposits

      41.

      UBD.No.DS.PCB.CIR.18/13.01.00/96-97

      30-08-1996

      Interest Rates on Deposits

      42.

      UBD.No.DS.DIR.9/13.01.00/96-97

      30-08-1996

      Interest Rates on Deposits

      43.

      UBD.No.DS.PCB.CIR.16/13.01.00/96-97

      09-08-1996

      Rate of interest on advances against term deposits

      44.

      UBD.No.DS.PCB.Cir.2/13.01.00/96-97

      01-07-1996

      Interest Rates on Deposits

      45.

      UBD.No.DS.PCB.Dir.2/13.01.00/96-97

      01-07-1996

      Interest Rates on Deposits

      46.

      UBD.No.(PCB.)Dir.25/13.01.00/95-96

      03-04-1996

      Interest Rates on Deposits

      47.

      UBD.No.DS.CIR.PCB.59/13.01.00/95-96.

      03-04-1996

      Interest Rates on Deposits

      48.

      UBD.No.DS.PCB.DIR.24/13.01.00/95-96

      30-03-1996

      Interest Rates on Deposits

      49.

      UBD.No.DS.PCB.CIR.57/13.01.00/95-96

      30-03-1996

      Interest Rates on Deposits

      50.

      UBD No.DS.(PCB.)12/13.01.00/95-96

      30-10-1995

      Interest Rates on Deposits

      51.

      UBD No.DS.Cir.PCB.24/13.01.00/95-96.

      30-10-1995

      Interest Rates on Deposits

      52.

      UBD.No.DS.(PCB)DIR.10/13.01.00/ 95-96

      29-09-1995

      Rate of Interest on advances against term deposits

      53.

      UBD No.DS.Cir.PCB.15/13.01.00/95-96

      29-09-1995

      Interest Rates on Deposits

      54.

      UBD.No.DS.Cir.PCB.17/13.01.00/95-96 -- --.

      09-09-1995

      Rate of Interest on Advances against term deposits

      55.

      UBD No.DS.(PCB.) 8/13.01.00/95-96

      29-09-1995

      Interest Rates on Deposits

      56.

      UBD.No.DS.PCB.DIR.17/13.01.00/94-95.

      06-05-1995

      Interest Rates on Deposits

      57.

      UBD.No.DS.(PCB)DIR.13(13.01.00)/ 94/95

      17-04-1995

      Interest Rates on Deposits

      58.

      UBD.No.DS.CIR.PCB.50(13.01.00)/ 94-95

      17-04-1995

      Interest rates on Deposits

      59.

      UBD.No.DS.(PCB.)DIR.10(13.01.00)/94-95

      09-02-1995

      Interest Rates on Deposits

      60.

      UBD.No.DS.CIR.PCB.42(13.01.00)/ 94-95

      09-02-1995

      Interest Rates on Deposits

      61.

      UBD.No.DS.CIR.PCB.40/13.01.00/94-95.

      04-02-1995

      Interest rates on deposits

      62.

      UBD.DS.CIR.PCB.26/13.01.00/94-95

      26-10-1994

      Interest Rates on Deposits - Margin on advances against term deposits

      63.

      UBD.DS.PCB.DIR.7/13.01.00/94-95

      26-10-1994

      Interest Rates on Deposits

      64.

      UBD.No.DS.CIR.(PCB)21/(13.01.00)/94-95

      17-10-1994

      Interest Rates on Deposits

      65.

      UBD.No.DS.CIR.PCB.22/(13.01.00)/ 94-95

      17-10-1994

      Interest Rates on Deposits under Non-Resident (External) Rupee Accounts (NRE Accounts)

      66.

      UBD.No.(PCB)DIR.4/(13.01.00)/94-95

      17-10-1994

      Interest Rates on Deposits

      67.

      UBD.No.DS(PCB)DIR.5/(13.01.00)/ 94-95

      17-10-1994

      Interest Rates on Deposits

      68.

      UBD.DS.CIR.AD1/13.02.00/94-95

      07-07-1994

      Interest rates on deposits

      69.

      UBD.DS.PCB.DIR1/13.01.00/94-95

      05-07-1994

      Interest Rates on Deposits

      70.

      UBD.No.PCB.(CIR).83/13-01.00/93-94

      16-06-1994

      Calculation of interest on savings bank accounts - Determining the monthly product

      71.

      UBD.No.(PCB)Cir.70/(13.01.00)/93-94

      14-05-1994

      Interest Rates on Deposits

      72.

      UBD.No.(PCB)DIR.3/(13.01.00)/93-94

      14-05-1994

      Deposits under Non-Resident (External) Rupee Accounts (NRE Accounts) Scheme

      73.

      UBD.No.(PCB)Cir.58/13.01.00/93-94

      16-02-1994

      Interest Rates on Deposits - Premature with-drawal

      74.

      UBD.No.(PCB)Cir.54/13.01.00/93-94

      08-02-1994

      Premature withdrawal of term deposit before the minimum period - Rate of Interest on advance granted against deposit

      75.

      UBD.No.(PCB)DC.24/(13.01.00)/93-94

      11-10-1993

      Interest Rates on Deposits

      76.

      UBD.No.(PCB)DC.25/(13.01.00)/93-94

      pr11-10-1993

      Interest Rates on Deposits

      77.

      UBD.No.(PCB)15/DC(13.01.00)-93/94

      01-09-1993

      Interest Rates on Deposits

      78.

      UBD.No.(PCB)DC.16/(13.01.00)/93-94

      01-09-1993

      Interest Rates on Deposits

      79.

      UBD.No.(PCB)9/(13.01.00)/93-94

      04-08-1993

      Premature withdrawal of term deposit for a period of 46 days - Rate of Interest on advance granted against deposit

      80.

      UBD.No.(PCB)91/DC(13.01.00)92-93

      23-06-1993

      Interest Rates on Deposits

      81.

      UBD.No.(PCB)92/DC.V.1(B)/92-93

      23-06-1993

      Interest Rates on Deposits

      82.

      UBD.(PCB)78/DC.V.1(B)/92-93

      26-05-1993

      Interest rates on deposits Premature withdrawal

      83.

      UBD.(PCB)68/DC.V.1(B)/92-93

      15-05-1993

      Interest rates on deposits

      84.

      UBD.(PCB)69/DC.V.1(B)/92-93

      15-05-1993

      Interest rates on deposits - acceptance of deposits for longer period

      85.

      UBD.No.(PCB)56A/DC.V.1(B)/92-93

      07-04-1993

      Interest Rates on Deposits

      86.

      UBD.No.(PCB)57/DC.V.1(B)/92-93

      07-04-1993

      Interest Rates on Deposits held under Non-Resident (External) Rupee Accounts

      87.

      UBD.No.(SUC)104/DC.V.1(B)/92-93

      13-03-1993

      Interest rates on deposits

      88.

      UBD.No.(PCB)50/DC.V.1(B)/92-93

      27-02-1993

      Interest Rates on Deposits

      89.

      UBD.No.(PCB)51/DC.V.1(B)/92-93

      27-02-1993

      Interest Rates on Deposits

      90.

      UBD.(DC)36/V.1/92-93 28

      28-01-1993

      Directive on Interest rates on Deposits - Permissible Value of Gift

      91.

      UBD No.(PCB)24/DC.V.1/92-93

      08-10-1992

      Interest Rates on Deposits

      92.

      UBD.No.(PCB)23/DC.V.1/92-93

      08-10-1992

      Deposits [other than Foreign Currency (Non-Resident) Accounts and Non-Resident (External) Rupee Accounts]

      93.

      UBD.(PCB)15/DC.V.1-92/93

      18-09-1992

      Premature withdrawal of term deposit for a period of 46 days - Rate of interest on advance granted against deposit

      94.

      UBD.(UAF)1/DC(V.1)-92/93

      24-07-1992

      Interest rate on Savings deposits - increase from 5% p.a. to 6% p.a.W.E.F.24.4.1992

      95.

      UBD.No.(PCB)70/DC.V.1-91/92

      23-04-1992

      Interest Rates on Deposits

      96.

      UBD.PCB.71/DC.V.1-91/92

      23-04-1992

      Interest Rates on Deposits

      97.

      UBD.No.(PCB)64/DC.V.1.91/92

      21-04-1992

      Interest Rates on Deposits

      98.

      UBD.No.(PCB)65/DC.V.1-91/92

      21-04-1992

      Interest Rates on Deposits

      99.

      UBD.(SUC)48/DC/V.1(B)-91/92

      30-11-1991

      Interest Rates on Deposits

      100.

      UBD(PCB)24/DC.V-1-91/92

      08-10-1991

      Interest Rates on Deposits

      101..

      UBD(PCB)25/DC.V-1-91/92

      08-10-1991

      Interest Rates on Deposits

      102..

      UBD(PCB)19/DC.V-1-91/92

      20-09-1991

      Interest Rates on Deposits

      103.

      UBD(PCB)20/DC.V-1-91/92

      20-09-1991

      Interest Rates on Deposits- Opening of Savings Bank Accounts

      104.

      UBD.No(RO)6/DC(V.1)-91/92

      17-09-1991

      Interest Rates on Deposits- Payment of Interest on Term Deposits

      105.

      UBD(PCB)1.DC.V.1-91/92

      22-07-1991

      Interest Rates on Deposits

      106.

      UBD(PCB)2/DC.V-1-91/92

      22-07-1991

      Interest Rates on Deposits

      107.

      UBD.PCB.76/DC-V-1-90/91

      26-04-1991

      Interest Rates on Deposits - Premature Withdrawal of Term Deposits - Method and Rate for Calculating Interest

      108.

      UBD.No(PCB)64/DC-V-1-90/91

      12-04-1991

      Interest Rates on Deposits

      109.

      UBD.No(PCB)65/DC-V-1-90/91

      12-04-1991

      Interest Rates on Deposits

      110.

      UBD.No(PCB)67/DC(V.1)90/91

      12-04-1991

      Interest Rates on Deposits

      111.

      UBD.No.(PCB)68/DC-V-1-90/91

      12-04-1991

      Interest Rates on Deposits held under the Non-Resident (External) Rupee Accounts

      112.

      UBD.No.(PCB)44/DC(V.1)-90/91

      Interest Rates on Deposits

      113.

      UBD.(PCB)34/DC.V-1-90/91

      16-01-1991

      Interest Rates on Deposits

      114.

      UBD.DC.29/V.1-90/91

      08-12-1990

      Charging of Penal Interest for the Defaulted Instalments of Recurring Deposits

      115.

      UBD.No.(PCB)26/DC(V.1)-90/91

      30-11-1990

      Interest Rates on Deposits

      116.

      UBD.No(PCB)20/DC(V.1)-90/91

      15-10-1990

      Interest Rates on Deposits

      117.

      UBD.(PCB)14/DC.V.1-90/91

      09-10-1990

      Interest Rates on Deposits

      118.

      UBD(PCB).15/DC-V-1-90/91

      09-10-1990

      Interest Rates on Deposits

      119.

      UBD.(PCB)8/DC.V.1-90/91

      07-09-1990

      Directives on Interest Rates on Deposits

      120.

      UBD.(PCB) No.9/DC-V-1-90/91

      07-09-1990

      Interest Payable on the Deposit Account of Deceased Depositor/s

      121.

      UBD.No.PCB.32/DC.V.1(B)-89/90

      30-04-1990

      Interest Rates on Deposits

      122.

      UBD.(UCB).23/DC(V.1)-89/90

      12-04-1990

      Interest Rates on Deposits

      123.

      UBD.(UCB)24/DC-(V.1)-89/90

      12-04-1990

      Interest Rates on Deposits held under the Non-Resident (External) Rupee Accounts

      124.

      UBD.No.PCB.16/DC.V-1(B)-89/90

      05-03-1990

      Interest Rates on Deposits

      125.

      UBD.DC.49/V.1-89/90

      13-12-1989

      Method of Calculation of Interest on Premature Withdrawal/Discontinuance of Recurring Deposits and Charging of Penal Interest for the Defaulted Instalments of Recurring Deposits

      126.

      UBD.No.DC.31/V.1-89/90

      09-10-1989

      Interest Rates on Deposits

      127.

      UBD.No.DC.32/V.1-89/90

      09-10-1989

      Interest Rates on Deposits

      128.

      UBD.No.DC.9/V.1.89/90

      31-07-1989

      Interest Rates on Deposits - Payment of Interest on Term Deposits

      129.

      UBD.No.DC.101/V.1-88/89

      27-03-1989

      Interest Rates on Deposits

      130.

      UBD.No.DC.102/V.1/88-89

      27-03-1989

      Interest Rates on Deposits

      131.

      UBD.No.DC.12/V.1(B)-88/89

      30-07-1988

      Directives on Interest Rates on Deposits

      132.

      UBD.No.DC.104/V-1/87-88

      02-04-1988

      Interest Rates on Deposits

      133.

      UBD.DC.105/V.1-87/88

      02-04-1988

      Interest Rates on Deposits

      134.

      UBD.No.(DC)63/V.1-86/87

      19-11-1987

      Payment of Interest on Savings Bank Accounts

      135.

      UBD.No.DC.60/V1.87/88

      13-11-1987

      Interest Rates on Deposits - Rate of Interest Applicable to Overdue Deposits

      136.

      UBD.(DC)46/V.1-87/88

      10-10-1987

      Interest Rates on Deposits

      137.

      UBD.DC.No.7/V.1-87/88

      06-07-1987

      Interest Rates on Deposits

      138.

      UBD.DC.8/V.1-87/88

      06-07-1987

      Interest Rates on Deposits

      139.

      UBD.DC.102/V.1-86/87

      25-06-1987

      Interest Rates of Deposits

      140.

      UBD.DC.103/V.1.86/87

      25-06-1987

      Interest Rates on Deposits

      141.

      UBD.No.(DC)68.V.1.86/87

      01-04-1987

      Interest Rates on Deposits

      142.

      UBD.No.DC.60/V.1-86/87

      31-03-1987

      Interest Rates on Deposits

      143

      UBD.No.(DC)61/V.1-86/87

      31-03-1987

      Interest Rates on Deposits

      144.

      UBD(DC)57/V.1-85/86

      19-11-1985

      Margin and Rate of Interest on Loans Against Fixed Deposits

      145.

      UBD.No.(DC)56/V.1/85-86

      19-11-1985

      Payment of Interest on Savings Bank Accounts of Government Departments, Semi-Governments, Quasi-Governments and Local Bodies and certain Organisations engaged in Public Utility Services like State Housing Board

      146.

      UBD.No.(DC)36/V.1-85/86

      09-10-1985

      Interest Rates on Deposits

      147.

      UBD.DC.21/ V.I-85/86

      02-09-1985

      Directives on Interest Rates on Deposits

      148.

      UBD.(DC)3408/V.1-84/85

      25-05-1985

      Non-resident accounts in rupees

      149.

      UBD.(DC)3413/V.1-84/85

      25-05-1985

      Interest rates on deposits

      150.

      UBD.(DC)3415/V.1-84/85

      25-05-1985

      Interest rates on deposits acceptance of deposits for periods exceeding 10 years

      151.

      UBD.(DC)3414/V.1-84/85

      24-05-1985

      Interest rates on deposits

      152.

      UBD(DC)3160/V.1-84/85

      06-04-1985

      Interest rates on deposits

      153.

      UBD.(DC)3161/V.1-84/85

      06-04-1985

      Interest rates on deposits

      154.

      UBD.I&L1707/J.1-84/85

      23-02-1985

      Crediting of interest on deposits accepted under re-investment plan to the deposit accounts

      155.

      UBD.(DC)890/V.1-84/85

      09-01-1985

      Interest rates on deposits payment of interest at savings bank rate on amounts lying in the current account of deceased depositors

      156.

      DBOD.UBD(DC)128/V.1-83/84

      22-07-1983

      Interest rates on deposits

      157.

      DBOD.UBD(DC)1055/V.1-82/83

      04-02-1983

      Interest rates on deposits

      158.

      DBOD.UBD(DC)464/V.1-82/3

      26-10-1982

      Interest Rates on Deposits

      159.

      DBOD.UBD(DC)465/V.1-82/3

      26-10-1982

      Interest Rates on Deposits

      160.

      ACD.ID.(DC).38/V.1-82/83

      09-07-1982

      Voilations of the directive provisions relating to interest rates on deposits

      161.

      ACD.ID.(DC)2692/V.1-81/82

      03-06-1982

      Interest rates on deposits payments of interest on savings bank accounts of certain organisations engaged in public utility services like municipal corporations, state housing boards, etc.

      162.

      ACD.ID.(DC)1882/V.1-81/82

      01-03-1982

      Interest rates on deposits

      163.

      ACD.ID.(DC)1883/V.1-81/82

      01-03-1982

      Interest rates on deposits

      164.

      ACD.ID.(DC)1249/V.1-81/82

      21-12-1981

      Interest rates on deposits

      165.

      ACD.ID.(DC)1251/V.1-81/82

      21-12-1981

      Interest rates on deposits

      166.

      ACD.ID.(DC)367/V.1-81/82

      13-08-1981

      Interest rates on deposits renewal of deposits before maturity

      167.

      ACD.ID.(DC)369/V.1-81/82

      13-08-1981

      Interest rates on deposits

      168.

      ACD.ID(DC)256/V.1-81/82

      22-07-1981

      Interest rates on deposits premature withdrawal of deposits

      169.

      ACD.ID.(DC)2133/V.1-80/81

      02-03-1981

      Interest Rates on Deposits

      170.

      ACD.ID.(DC)2132/V.1-80/81

      02-03-1981

      Interest rates on deposits

      171.

      ACD.ID.(DC)2961/V.1-79/80

      16-05-1980

      Directives on interest rates on deposits

      172.

      ACD.ID.(DC)791/V.1-79/80

      14-09-1979

      Interest rates on deposits

      173.

      ACD.ID.(DC)790/V.1-79/80

      13-09-1979

      Interest rates on deposits

      174.

      ACD.ID.(DC)3167/V.1-78/9

      19-02-1979

      Interest rates on deposits

      175.

      ACD.ID.(DC)1259/V.1-78/9

      20-11-1978

      Interest rates on deposits covered by declaration under section 54 E of the income tax act,1961

      176.

      ACD.ID.(DC)584/V.1-78/9

      23-08-1978

      Interest Rates on Deposits

      177.

      ACD.ID.(DC)585/V.1-78/9

      23-08-1978

      Interest rates on deposits

      178.

      ACD.ID.(DC)9264/V.1-77/8

      02-06-1978

      Interest rates on deposits payment of interest on monthly basis on fixed deposits

      179.

      ACD.ID.(DC)8866/V.1-77/8

      10-05-1978

      Directives on interest rates on deposits

      180.

      ACD.ID.(DC)6975/V.1-77/8

      07-03-1978

      Interest rates on deposits

      181.

      ACD.ID.(DC)69761/V.1-77/8

      07-03-1978

      Interest rates on deposits

      182.

      ACD.ID.(DC)6870/V.1-77/8

      01-03-1978

      Interest rates on deposits

      183.

      ACD.ID.(DC)6871/V.1-77/8

      01-03-1978

      Interest rates on deposits

      184.

      ACD.ID.2717/V.1-77/8

      21-09-1977

      Interest rates on deposits

      185.

      ACD.ID.2718/V.1-77/8

      21-09-1977

      Interest rates on deposits

      186.

      ACD.ID.1092/V.1-77/8

      30-07-1977

      Interest rates on deposits overdue deposits

      187.

      ACD.ID.11438/V.1-76/7

      20-06-1977

      Interest rates on deposits

      188.

      ACD.ID.10844/V.1-76/7

      31-05-1977

      Interest rates on deposits

      189.

      ACD.ID.10845/V.1-76-7

      31-05-1977

      Interest rates on deposits

      190.

      ACD.ID.3677/V.1-76/7

      01-11-1976

      Interest rates on deposits - linked janata personal accident policy

      191.

      ACD.ID.12504/J.32-75/6

      21-06-1976

      Interest rates on deposits

      192.

      ACD.ID.12505/J.32-75/6

      21-06-1976

      Interest rates on deposits

      193.

      ACD.ID.8217/J.32-75/6

      31-01-1976

      Interest rates on deposits premature withdrawal of deposits

      194.

      ACD.ID.5257/J.32-75/6

      24-11-1975

      Interest Rates on Deposits Schemes for Mobilising Deposits

      195.

      ACD.ID.4300/J.32-74/5

      12-02-1975

      Interest Rates on Deposits

      196.

      ACD.ID.4301/J.32-74/5

      12-02-1975

      Interest Rates on Deposits

      197.

      ACD.ID.4141/J.32-74/5

      31-01-1975

      Interest Rates on Deposits

      198.

      ACD.ID.4142/J.32-74-5

      31-01-1975

      Interest Rates on Deposits

      199.

      ACD.ID.3986/J.32-74/5

      20-01-1975

      Interest rates on deposits

      200.

      ACD.ID.2918/J.32-74/5

      22-11-1974

      Interest rates on deposits

      201.

      ACD.ID.2919/J.32-74/5

      22-11-1974

      Interest rates on deposits

      202.

      ACD.ID.935/J.32/74-5

      16-08-1974

      Interest rates on deposits

      203.

      ACD.ID.936/J.32/7-45

      16-08-1974

      Interest rates on deposits

      B. List of Other Circulars from which instructions relating to Interest Rates on Rupee Deposits have also been consolidated in the Master Circular

      No.

      Circular No.

      Date

      Subject

      Para No. of the Circular

      Para No. of the Master Circular

      UBD.No.Cir.(AD)13/13.02.00/96-97

      31-01-1997

      Conversion of FCNR/NRE accounts of the Returning Indians to RFC accounts : Payment of interest

      2

      7.2

      UBD(SUC)76/DC/V.1(B)/92-93

      21-09-1992

      Interest Rates on Deposits – Renewal of overdue FCNR/NRE deposits

      2

      9.2


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