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Reviewing the Reporting and Accounting Procedure of Relief and Savings Bonds - Revised Application format - 8% Savings (Taxable) Bonds, 2003
June, 25th 2014

RBI/2013-14/654
DGBA.CDD. No. 6919/13.01.299/2013-14

June 12, 2014

The Chairman/Managing Director
Head Office (Government Accounts Department)
State Bank of India and Associates
All Nationalised Banks
(Excluding Punjab and Sind Bank and Andhra Bank)
Axis Bank Ltd./ HDFC Bank Ltd./ICICI Bank Ltd.
Stock Holding Corporation of India Ltd.(SHCIL)

Dear Sir/Madam

Reviewing the Reporting and Accounting Procedure of Relief and Savings Bonds - Revised Application format - 8% Savings (Taxable) Bonds, 2003

You may recall the discussions we had in the meetings held on August 31, 2012 and February 06, 2013 regarding migration of Relief/Savings Bonds operations to the Core Banking Solution (CBS) Platforms of the banks. In order to migrate the Relief/Savings Bond operations to CBS Platforms, it was felt necessary to use a revised application format to fit into the new system after notifying the same by the Government of India (GOI). After due consideration of the comments/suggestions made by the banks, the revised application formats (bilingual - Hindi and English) for 8% Savings (Taxable) Bonds, 2003 have been approved by the Government of India and notified in the Gazette of India - Extraordinary - Part I - Section -1, No. 104 on April 21, 2014, copy of which is enclosed for our ready reference.

2. The application formats for Cumulative and Non-Cumulative Bonds may be printed in different colours for easy identification. While printing the forms following instructions may please be kept in mind.

  1. The application forms should be bilingual, i.e. in Hindi and English

  2. You may use logo of your bank at the place provided in the application format

  3. The application forms should be printed on A-4 size paper only.

  4. The application forms must be printed on good quality paper.

  5. The information regarding savings bonds and duties and rights of the customers must be printed and perforated in such a manner that they can be easily detached and taken away by the customer while leaving behind the application portion with the bank/branch.

3. It need not be emphasized that the time schedule for deliverables should be strictly adhered to. Deviation, if any, will be viewed seriously by the Reserve Bank of India.

4. Please acknowledge the receipt and also confirm that the above instructions have been implemented by you.

Yours faithfully,

(R. K. Singh)
Deputy General Manager
Encl.: As above

 
 
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