| Date: |
19-03-2003
|
| Notification No: |
RBI Notification No 82/2003
|
| Issuing Authority: |
RBI
|
| Type: |
Notification
|
| File No: |
|
| Subject: |
Interest Rates on Deposits – Capital Gains Account Scheme – 1988
|
|
Interest Rates on Deposits � Capital Gains Account Scheme � 1988
DBOD.
Dir. BC. 82 - 13. 03.00 dated 19th March 2003
Please
refer to our Notification DBOD No. Dir.BC.108/13.03.00/2000-01 dated April
19,2001 in terms of which the banks were advised of the rates of interest on
deposits made under Capital Gains Accounts Scheme, 1988, introduced by
Government of India. We have reviewed the rates and our Notification DBOD No.
Dir. BC. 81/13.03.00/2002-03 dated 19 March 2003 advising the revised rates of
interest, is enclosed. The revised rates will come into effect from March 01,
2003.
Interest
Rates on Deposits � Capital Gains Accounts Scheme, 1988
DBOD.
Dir. BC. 81 - 13. 03.00 dated 19th March 2003
In
exercise of the powers conferred by Section 35A of the Banking Regulation Act,
1949 and paragraph 8 of the Capital Gains Accounts Scheme, 1988 and in
modification of its Notification DBOD No. Dir. BC. 108/13.03.00/2000-01 dated
April 19, 2001, Reserve Bank of India, hereby specifies that the interest paid
by the banks on deposits in Account "A" and "B" under the
Capital Gains Accounts Scheme, 1988 shall be as hereunder, effective March 01,
2003.
|
Category
of Account
|
Per
cent per annum
|
|
i)
Account "A"
|
3.5
|
|
ii)
Account "B"
|
|
|
|
(a)
Below Rs. 15 lakh, 15 days and above
|
Free
|
|
|
(b)
Rs. 15 lakh and above 7 days and above
|
Free
|
|
|
|