| Date: |
14-12-2002
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| Notification No: |
RBI Notification No 50/2002
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| Issuing Authority: |
RBI
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| Type: |
Notification
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| File No: |
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| Subject: |
Opening of Saving Bank Accounts in the Name of Certain Bodies/ Organizations
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Opening of Saving Bank Accounts in the Name of Certain Bodies/
Organizations
DBOD.
Dir. BC. 50 -13.03.00 - dated 14th December 2002
In
exercise of the powers conferred by Sections 21 and 35A of the Banking
Regulation Act, 1949 and in modification of its Master Directive DBOD No. Dir.
BC. 07/13.03.00/2001-02 dated 11 August 2001 as amended from time to time, the
Reserve Bank of India, being satisfied that it is necessary and expedient in the
public interest so to do, hereby directs that item 7, Annexure V of the
aforesaid directive shall be substituted by following with immediate effect.
(7) Government departments/ bodies/ agencies
in respect of grants/ subsidies released for implementation of various
programmes/ schemes sponsored by Central Government/ State Governments subject
to production of an authorization from the respective Central/ State Government
departments to open savings bank account.
All
other provisions of the Directive DBOD No. Dir. BC. 07/13.03.00/2001-02 dated
August 11, 2001 shall remain unchanged.
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