Latest Expert Exchange Queries
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
 
 
 
 
Popular Search: form 3cd :: ARTICLES ON INPUT TAX CREDIT IN VAT :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: articles on VAT and GST in India :: empanelment :: ACCOUNTING STANDARDS :: due date for vat payment :: ACCOUNTING STANDARD :: list of goods taxed at 4% :: TAX RATES - GOODS TAXABLE @ 4% :: TDS :: VAT Audit :: VAT RATES :: Central Excise rule to resale the machines to a new company :: cpt
 
 
Latest Circulars »
  RBI-Enhancement of withdrawal limits from ATMs and Current Accounts
 Auction of Government of India Dated Securities January 16, 2017
  Withdrawal of Legal Tender Character of the Old Bank Notes in the denominations of ₹ 500 and ₹ 1000 and The Specified Bank Notes (Cessation of Liabilities) Ordinance 2016
 RBI-Career Opportunities at Reserve Bank Information Technology Pvt Ltd
 RBI-Appointment of Director, National Institute of Bank Management (NIBM), Pune (Revised)
 RBI-Enhancement of withdrawal limits from ATMs and Current Accounts
  Evidence of Import under Import Data Processing and Monitoring System (IDPMS)
 Evidence of Import under Import Data Processing and Monitoring System (IDPMS)
 Issuance of 35 days and 49 days Cash Management Bills under Market Stabilisation Scheme (MSS) on January 13, 2017
 RBI to conduct Overnight Variable Rate Reverse Repo Auction under LAF on January 12, 2017 between 4.00 pm and 4.30 pm
  Macro and Micro Drivers of Business Potential of IFSCs in India (Dr. Urjit R. Patel, Governor – January 11, 2017 – at Gandhinagar, Gujarat)

Interest Rates on Deposits Deposits of Army Group Insurance Directorate (AGID), Naval Group Insurance Fund (NGIF) and Air Force Group Insurance Society (AFGIS)
August, 07th 2015

RBI/2015-16/147
DBR.Dir.BC.No.33/13.03.00/2015-16

August 06, 2015

All Scheduled Commercial Banks
(Excluding RRBs)

Dear Sir/Madam

Interest Rates on Deposits – Deposits of Army Group Insurance Directorate (AGID), Naval Group Insurance Fund (NGIF) and Air Force Group Insurance Society (AFGIS)

Please refer to our circulars DBOD.No.Dir.BC.121/C.347 (26)-86 dated October 29, 1986, DBOD. No. Dir. BC.26/C.347(26)-87 dated September 1, 1987 and DBOD. No. Dir. BC. 28/C.347(26)-87 dated September 11, 1987, in terms of which Public Sector Banks were permitted to pay additional interest of 1.28 per cent per annum over and above the normal rate of interest permissible in terms of directives on interest rates on deposits issued by Reserve Bank of India, from time to time, only on the term deposits for two years and above of Army Group Insurance Directorate (AGID), Naval Group Insurance Fund (NGIF) and Air-Force Group Insurance Society (AFGIS), provided such deposits are not in any way linked with payment of insurance premia by the bank.

2. In line with complete deregulation of interest rates on deposits, it has been decided to withdraw the prescription of offering additional interest of 1.28 per cent per annum on the deposits of AGID, NGIF and AFGIS. Accordingly, interest rates on such deposits should be at par with other deposits of similar maturity and amount.

3. The above guidelines will be applicable at the time of accepting fresh deposits or renewal of the existing deposits. In other words, existing term deposits of AGID, NGIF and AFGIS may be continued till maturity.

Yours faithfully,

(Lily Vadera)
Chief General Manager

 

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
System Testing Solution Manual Software Testing Solutions Automation Software Testing Solutions System Workflow Testing System Manual Testing

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions