Financial Daily from THE HINDU group of publications
Saturday, Oct 09, 2004
Financial Daily from THE HINDU group of publications Saturday, Oct 09, 2004 |
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Money & Banking
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RBI & Other Central Banks Now, banks can offer senior citizens scheme Our Bureau
Mumbai , Oct. 8 BANKS will also now start accepting deposits under the Senior Citizens Savings Scheme (SCSS) which was introduced by the Government in August, said a notification from the Reserve Bank of India. Banks which are operating `Public Provident Fund Scheme, 1968' will operate this scheme through their branches. Small Savings agents working under the Standardised Agency System (SAS) will mobilise deposits under the scheme. Commission of 0.5 per cent will be paid to these agents. The "at source commission payment system" will also be applicable to these agents, the notification said.
More Stories on : RBI & Other Central Banks | Small Savings
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