Page 50 - Banking Finance August 2017

RBI CIRCULAR

The e-Kuber system can be accessed either through Interest rates for Small Savings Schemes
Infinet or Internet. The Receiving Offices need to enter
the data or carry out bulk upload for the subscriptions RBI/2017-18/22
received by them. They may ensure accuracy of entry DGBA.GBD. 69/15.02.005/2017-18
of data to prevent occurrence of any inadvertent 1. Please refer to our circular DGBA.GAD.2618/15.02.005/
errors. An immediate confirmation will be provided to 2016-17 dated April 6, 2017 on the above subject. The
them for receipt of application. In addition, a
Government of India, had vide their Office
confirmation scroll will be provided for file uploads to
Memorandum (OM) No.F.No.01/04/2016–NS dated June
enable the Receiving Offices to update their database.
30, 2017 advised the rate of interest on various small
On the date of allotment, i.e., July 28, 2017. savings schemes for the second quarter of the financial
Certificates of Holding will be generated for all the year 2017-18 (copy enclosed).
subscriptions in the name of the sole/principal holder.
The Receiving Offices can download the same and take 2. The contents of this circular may be brought to the
notice of the branches of your bank operating
printouts. The Certificates of Holding will also be sent Government Small Saving Schemes for necessary
through e-mail to the investors who have provided their
action. These should also be displayed on the notice
email address. The securities will be credited in their boards of your branches for information of the
de-mat accounts by the depositories, in due course,
subscribers to these Schemes.
subject to matching of particulars furnished in the
application with the depositories' records. Yours faithfully
(V. S. Prajish)
9. Printing Certificates of Holding
Assistant General Manager
Holding Certificate needs to be printed in colour on A4
size 100 GSM paper.
Sovereign Gold Bonds 2017-18 - Series II
10. Servicing and follow up
Receiving Offices, i.e., branches of the Scheduled RBI/2017-18/17
Commercial Banks, designated post offices, SCHIL and IDMD.CDD.No.28/14.04.050/2017-18
stock exchanges (NSE Ltd and BSE) will "own" the
customer and provide necessary services with regards Government of India has vide its Notification F.No. 4(20)-
to this bond e.g. update contact details, receive B/(W&M)/2017 dated July 06, 2017 announced that the
requests for premature encashment, etc. Receiving Sovereign Gold Bonds 2017 -18- Series II ("the Bonds") will
Offices will be required to preserve applications till the be open for subscription from July 10, 2017 to July 14, 2017.
bonds are matured and are repaid. The Government of India may, with prior notice, close the
Scheme before the specified period. The terms and
11. Tradability conditions of the issuance of the Bonds shall be as follows:
The Bonds shall be eligible for trading on a date notified
by the Reserve Bank of India. (It may be noted that 1. Eligibility for Investment:
only bonds held in demat form with depositories can The Bonds under this Scheme may be held by a person
be traded in stock exchanges) resident in India, being an individual, in his capacity as
such individual, or on behalf of minor child, or jointly
12. Contact details
with any other individual. The bond may also be held
Any queries/clarifications may be e-mailed to the by a Trust, Charitable Institution and University. "Person
following: resident in India" is defined under section 2(v) read with
(a) Sovereign Gold Bond related: Please click here to section 2(u) of the Foreign Exchange Management Act,
send email. 1999
(b) IT related: Please click here to send email. 2. Form of Security
The Bonds shall be issued in the form of Government
Yours faithfully, of India Stock in accordance with section 3 of the
(Shyni Sunil) Government Securities Act, 2006. The investors will be
Deputy General Manager issued a Holding Certificate (Form C). The Bonds shall
be eligible for conversion into de-mat form.

50 | 2017 | AUGUST | BANKING FINANCE

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