SC: Electricity Dues over 2 Years Recoverable only if Shown Continuously as Outstanding  ||  Allahabad HC Criticises UP Govt for Using Goondas Act as a ‘Tool of Oppression’  ||  Gujarat HC: Complaint Made in Good Faith does not Amount to Defamation  ||  Allahabad HC: Bar Association Membership Disputes Are Private, Outside Writ Jurisdiction  ||  P&H HC: Section 147A Income Tax Act Unconstitutional; Legislature Can’t Override Court Findings  ||  Karnataka HC: Refusing to Return Child’s Volleyball, Asking for Parent Not Abetment of Suicide  ||  Can an IBC Resolution Plan Survive the Death of its Proponent? NCLAT Answers  ||  Supreme Court: Rape Conviction Possible Without S.376 Charge if POCSO Case Fails on Age Proof  ||  SC: Mere Long Possession Can't Establish Adverse Possession; Hostile Intent is Required  ||  Supreme Court Finds Gaps in FSSAI’s Proposed Warning Labels for Foods High in Fat, Sugar and Salt    

Banking Regulation Act, 1949 - Section 26A Depositor Education and Awareness Fund Scheme, 2014 - Operational Guidelines - Payment of Interest- (Reserve Bank of India) (07 Jun 2018)

MANU/RMIC/0038/2018

Banking

Please refer to the circular DBOD.No.DEA Fund Cell.BC.126/30.01.002/2013-14 dated June 26, 2014 on the captioned subject, wherein Reserve Bank had specified that the rate of interest payable by banks to the depositors/claimants on the unclaimed interest bearing deposit amount transferred to the DEA Fund shall be 4% simple interest per annum until further notice.

2. The rate of interest has since been reviewed and it has been decided that the rate of interest payable by banks to the depositors/claimants on the unclaimed interest bearing deposit amount transferred to the Fund shall be 3.5% simple interest per annum with effect from July 01, 2018. The settlement of all claims received by the banks on or after July 01, 2018 will be at this rate, until further notice.

3. The other contents of the circular dated June 26, 2014 remain unchanged.

Tags : INTEREST RATE   PAYMENT   OPERATIONAL GUIDELINES  

Share :        

Disclaimer | Copyright 2026 - All Rights Reserved