Page 56 - BANKING FINANCE JULY 2016

STATISTICS

Rate of Interest of National Small Savings

Instrument Rate of interest % Rate of interest % Rate of interest %
After 1.4.2014 After 1.4.2015 After 1.4.2016
Savings Deposit
1 Year Time Deposit 4.0 4.0 (for first quarter of FY 2016-17)
2 Year Time Deposit 8.4 8.4 4.0
3 Year Time Deposit 8.4 8.4 7.1
5Year Time Deposit 8.4 8.4 7.2
5 Year Recurring Deposit 8.5 8.5 7.4
5 Year SCS 8.4 8.4 7.9
5 Year MIS 9.2 9.3 7.4
5 Year NSC 8.4 8.4 8.6
PPF 8.5 8.5 7.8
Sukanya Samriddhi Accoun 8.7 8.7 8.1
Kisan Vikas Patra 9.1 9.2 8.1
8.7 8.7 8.6
Source: Annual Report2015-16 7.8

(will mature in 110 months)

'Loan for fake gold' under scanner of Cooperation Department

Following the 'loan for fake gold' scam in Kasargod, the department of cooperation will inspect the gold pledged for
loans with all the service cooperative banks and societies in the state, said its top official. "I have directed the district-
level officials to inspect the gold in all the cooperative banks and societies in the state," said cooperation registrar, S
Lalithambika.

She said that the inspection in Kasargod was in the last phase and the other districts would begin inspection soon. "I
have asked for report from the districts," she said. The directive comes after the department unearthed a scam of Rs
6 crore in four cooperative banks in Kasargod. The department issued an order in 2013 to officials to inspect the gold
pledged with cooperative banks.

Centre to set up CMS unit to intercept data

The government is setting up a centralised monitoring system (CMS) to automate process of lawful interception and
monitoring of phones and internet, telecom minister Ravi Shankar Prasad said. The monitoring centre at Delhi and
regional monitoring centre (RMC) at New Delhi and Mumbai have been operationalised.

"The government has decided to set up the CMS in a phased manner to automate the process of lawful interception
and monitoring of mobile phones, landlines and the internet in the country," Prasad said in a written reply to the Lok
Sabha.

The objective of CMS includes electronic provisioning of a target number by a government agency without any manual
intervention from telecom service providers. "It will ensure secure flow of intercepted communication in a near real-
time basis between law enforcement agencies and telecom service providers on a secured and dedicated CMS net-
work," the Minister said.

56 | 2016 | JULY | BANKING FINANCE

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