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RBI Issues Review of Instructions on Interest on Overdue Domestic Deposits - (06 Jul 2021)

BANKING

Reserve Bank of India (RBI) has issued the review of instructions on Interest on overdue domestic deposits. The RBI has directed Banks to refer to directions on Interest Rate on Deposits and Co-operative Banks- Interest Rate on Deposits, in terms of which if a Term Deposit matures and proceeds are unpaid, the amount left unclaimed with the bank shall attract a rate of interest as applicable to savings deposits.

Tags : RESERVE BANK OF INDIA   INTEREST ON OVERDUE DOMESTIC DEPOSITS  

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