Supreme Court: Banks Cannot Invoke IBC Against Debtors For Builder-Linked Loans  ||  Supreme Court: Non-Disclosure of Failed Candidates’ Marks Does Not Imply They Passed Exams  ||  Supreme Court: Murder Accused Cannot Inherit Property of the Person Allegedly Killed  ||  Supreme Court: Delay in Deposit Does Not Automatically Cancel Contracts under Specific Relief Act  ||  SC: Railways is Treated as a Consumer under the Electricity Act, Not a Distribution Licensee  ||  Bom HC: Genuine Residents Cannot be Denied Relief Due to Aadhaar Deactivation or Biometric Mismatch  ||  Punjab & Haryana High Court: Raid on Rajinder Gupta’s Factory Soon After He Joined BJP From AAP  ||  Madhya Pradesh HC: Delay Can Be Condoned under Limitation Act Where Statute Has No Express Bar  ||  Cal HC Upholds PILs on Great Nicobar Project, Noting Alleged FRA Violations and Tribal Vulnerability  ||  Calcutta HC: Vodafone Idea Must Obtain Copyright Society Licence to Use Songs as Caller Tunes    

Pradhan Mantri Garib Kalyan Deposit Scheme (PMGKDS), 2016 – Clarification- (Reserve Bank of India) (16 Mar 2017)

MANU/IDMC/0003/2017

Banking

Please refer to our letter IDMD.No.1451/08.03.016/2016-17 dated December 16, 2016 and Notification No. S.O.4061(E) dated December 16, 2016 issued by the Government of India about announcement of "Pradan Mantri Garib Kalyan Deposit Scheme (PMGKDS), 2016. It has been brought to our notice that there is lack of clarity amongst investors on the reference number that needs to be quoted on Form V while uploading the same to the Income tax Authorities. Currently, banks are issuing an acknowledgement for having received the amounts under PMGKDS. The details of the deposit are then entered in the Bank's e-kuber application which generates a "Subscription Receipt". The "Subscription Receipt" which is a system generated receipt, has an "Issue Reference No". This reference number will need to be quoted by the investor in the Form V of Income Tax Authorites, prior to uploading the same. In order to bring in greater clarity, the nomenclature of "Issue Reference No" generated by e-kuber is being renamed as "Deposit Reference No". Necessary changes have been made in RBI's e-Kuber application to reflect this change. The staff of receiving banks under PMGKDS may be sensitized to take note of above changes and advise the depositors of PMGKDS, 2016 accordingly.

Tags : SCHEME   CLARIFICATION   GHARIB KALYAN  

Share :        

Disclaimer | Copyright 2026 - All Rights Reserved