**Policy Summary**
This circular, reference number RBI20181922 DGBA.GBD.12315.02.005201819 dated July 19, 2018, issued by the Reserve Bank of India (RBI), informs agency banks handling Small Savings Schemes that the interest rates for these schemes will remain unchanged for the second quarter of the financial year 2018-19, spanning from July 1, 2018, to September 30, 2018. This decision is based on Office Memorandum No.F.No.01042016NS dated July 2, 2018, from the Government of India. Banks are instructed to notify their branches operating Government Small Saving Schemes and display this information on notice boards for subscribers. For inquiries, contact A. Sidhaarth, Manager, Department of Government Bank Accounts, Central Office, 4th Floor, Byculla, Mumbai 400 008. Telephone: 022 23016214, 022 23001670. Fax No. 022 2300 8764, 022 23009126, 022 2301 0095. Email: cgmicdgbacorbi.org.in. The circular refers to the previous circular DGBA.GBD.257315.02.005201718 dated April 12, 2018, on the same subject.
Key Entities Referenced
RBI: Reserve Bank of India
Small Saving Schemes: Government-backed savings programs designed to encourage investment among citizens.
Government of India: The Union Government of India.
Office Memorandum OM No.F.No.01042016NS: Reference to a specific government document containing details on interest rates for Small Savings Schemes.
Financial Year 2018-19: The Indian financial year from April 1, 2018, to March 31, 2019.
A.Sidhaarth: Manager at Department of Government Bank Accounts, RBI
Department of Government Bank Accounts: A department within the Reserve Bank of India.
Mumbai, Maharashtra: City in India where the Central Office of the Department of Government Bank Accounts is located.
RBI/2018-19/22
DGBA.GBD.123/15.02.005/2018-19 July 19, 2018
The Chairman/Chief Executive Officer
Agency Banks handling Small Saving Schemes
Dear Sir
Interest rates for Small Savings Schemes
Please refer to our circular DGBA.GBD.2573/15.02.005/2017-18 dated April 12, 2018
on the above subject. The Government of India, has vide their Office Memorandum
(OM) No.F.No.01/04/2016–NS dated July 2, 2018 has stated that the interest rates on
Small Savings Schemes for the second quarter of financial year 2018-19 starting 1st
July, 2018 and ending September 30, 2018 shall remain unchanged from those notified
for the first quarter of FY 2018-19 (copy enclosed).
2. The contents of this circular may be brought to the notice of the branches of your
bank operating Government Small Saving Schemes for necessary action. These should
also be displayed on the notice boards of your branches for information of the
subscribers to these Schemes.
Yours faithfully
(A.Sidhaarth)
Manager
Encl : as above
________________________________________________________________
सरकारी और ब�क लखे ा िवभाग, क��ीय कायालर् य, मुंबई स�� ल रेलव ेस्टेशन के सामन,े चौथी मिंजल, भायखला, मुंबई - 400 008
Department of Government & Bank Accounts, Central Office, Opp. Mumbai Central Railway Station, 4th Floor, Byculla, Mumbai - 400 008
Telephone: (022) 23016214,(022)23001670 Fax No. (022) 2300 8764/23009126/2301 0095, e-mail : cgmicdgbaco@rbi.org.in
�हदी आसान है, इसका �योग बढ़ाइए ।