TAILIEUCHUNG - Master Circular Interest Rates on Rupee Deposits – Primary (Urban) Co-operative Banks

The Bank Board s examination and supervision functions were organized differently from those in the banking agencies. The examinations of S&Ls were conducted completely separately from the supervisory function. Examiners were hired by and reported to the Of- fice of Examination and Supervision of the Bank Board (OES). The supervisory personnel, with authority for the System, resided within the Federal Home Loan Bank System and, in effect, reported only to the president of the local FHLB. Thus, in contrast to the banking agencies, no agency had a single, direct line of responsibility for a troubled institution | mJi U fc i RESERVE BANK OF INDIA RBI 2012-13 54 PCB MC. No. 11 2012-13 July 2 2012 The Chief Executive Officers of All Primary Urban Co-operative Banks Dear Sir Master Circular Interest Rates on Rupee Deposits - Primary Urban Co-operative Banks Please refer to our Master Circular 2011-12 dated July 1 2011 on the captioned subject available at RBI website . The enclosed Master Circular consolidates and updates all the instructions guidelines on the subject issued up to June 30 2012 and mentioned in the Appendix. Yours faithfully A. Udgata Chief General Manager-in-Charge Encl As above tr T Bm T r i4id4 j it4d F H. q efr rii N ST Tr ts 3tefr ffit- 400018 MRa frta 022 - 2493 9930 - 49 frw 022 - 2497 4030 2492 0231 Ệ N rbiubdco@ Urban Banks Department Central Office Garment House 1 Floor Worli Mumbai - 400018 India Phone 022 - 2493 9930 - 49 Fax 022 - 2497 4030 2492 0231 Email rbiubdco@ ẩ íặ ír mun T -WiJId tdT _Master Circular_ Interest Rates on Rupee Deposits Contents Page 1 Introduction 1 2 Definitions 1 3 Rate of interest payable on Current Accounts 2 4A Rate of Interest Payable on Savings Deposits 3 4B Interest on Ordinary Non-Resident NRO Accounts and NonResident External Rupee NRE Deposits 4 5 Interest Payable on Term Deposits 4 6 Additional Interest Payable 5 7 Payment of Interest on Term Deposit Maturing on Sunday Holiday NonBusiness Working Day 7 8 Premature withdrawal of Term Deposit 7 9 Conversion of a Term Deposit a Deposit in the form of Daily Deposit or Recurring Deposit for Reinvestment in Term Deposit 9 10 Unclaimed Deposits and Inoperative Dormant Accounts 9 11 Interest Payable on a Deposit Account of Deceased Depositor 9 12 Rounding off of transactions 9 13 Margin on Advances against Term Deposits 10 14 Addition or Deletion of the Name s or Split into Joint Account Holders 10 15 Transfer Split up of the Deposit on the Death of .

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