SC: Public Premises Act Prevails over State Rent Laws For Evicting Unauthorised Occupants  ||  SC: Doctors Were Unwavering Heroes in COVID-19, and Their Sacrifice Remains Indelible  ||  SC Sets Up Secondary Medical Board to Assess Passive Euthanasia Plea of Man in Vegetative State  ||  NCLAT: Amounts Listed As ‘Other Advances’ in Company’s Balance Sheet aren’t Financial Debt under IBC  ||  NCLT Ahmedabad: Objections to Coc Cannot Bar RP From Challenging Preferential Transactions  ||  J&K&L HC: Courts Should Exercise Caution When Granting Interim Relief in Public Infrastructure Cases  ||  Bombay HC: SARFAESI Sale Invalid if Sale Certificate is Not Issued Prior to IBC Moratorium  ||  Supreme Court: Police May Freeze Bank Accounts under S.102 CrPC in Prevention of Corruption Cases  ||  SC: Arbitrator’s Mandate Ends on Time Expiry; Substituted Arbitrator Must Continue After Extension  ||  SC: Woman May Move Her Department’s ICC For Harassment by Employee of Another Workplace    

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 2025 - All Rights Reserved