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Articles by deepak

Payment of Penal Interest for delayed credit/refunds of NEFT transactions

RBI/2011-12/342   DPSS (CO) EPPD No.1204/04.03.01/2011-12   January 05, 2012   The Chairman and Managing Director / Chief Executive Officer of member banks participating in  NEFT / Indian Banks™ Association Madam / Dear Sir, Payment of Penal Interest for delayed credit/refunds of NEFT transactions and efficient functioning of Customer Facilitation Centres Please refer to our… Read More

Clarification on Interest Rates on Small Savings Schemes

  Ministry of Finance has clarified that although the rate of interest on small savings schemes will be aligned every year with rates of Government securities of similar maturity, with suitable spread, the rates are fixed and not floating so far as individual investments except PPF are concerned. This is in response to news items… Read More

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