SCSS 2004: Banks Must Serve Retired Army Personnel

RBI/2010-11/562 DGBA. CDD. No. H-8545/15.15.001/2010-11 June 09, 2011 The Managing Director/ Chief General Manager Government Accounts Department Government Business Department/Head Office State Bank of India//State Bank of Patiala/ State Bank of Bikaner & Jaipur/State Bank of Travancore/ State Bank of Hyderabad/State Bank of Mysore/ Allahabad Bank/Bank of Baroda/Bank of India/ Bank of Maharashtra/Canara Bank/Central Bank of India/ Corporation Bank/Dena Bank/Indian Bank/ Indian Overseas Bank/Punjab National Bank/ Syndicate Bank/UCO Bank/Union Bank of India/ United Bank of India/Vijaya Bank/IDBI Bank/ ICICI Bank Dear Sir/Madam,  Non-implementation of Senior Citizens Savings Scheme- 2004(SCSS) by certain banks on deposit by  Army Personnel It has been brought to our notice that some of the agency banks do not implement  the instructions given  in Government of India’s Office Memorandum F. No. 2-8/2004-NS-II dated October 29, 2004 and circulated to agency banks vide our circular RBI/2004-05/259 Ref. CO. DT. No. 15.05.001/H-3999-4021/2004-05 dated October 30, 2004 ( copy enclosed ), particularly in case of retired army personnel and have denied the facility of this Scheme to some of them in contravention of the instructions ibid. 2. We, therefore, reiterate that you may strictly adhere to the instructions issued vide  our above circular and ensure extending  the benefits of the scheme to retired army personnel also, if otherwise found in order. 3.  You may bring the contents of this and the earlier circulars to all your branches dealing with this scheme. Yours faithfully (P. S. Ranga Rao) Assistant General Manager Encls: As above RBI/2004-05/ 259 CO. DT. No. 15.15.001/H – 3999-4021/2004-05 October 30, 2004 Kartika 9, 1926 (S) The Chairman & Managing Director State Bank of India/ Associate Banks & 15 Public Sector Banks Dear Sir,  Senior Citizens Savings Scheme, 2004 (SCSS) - Clarifications   In continuation of our circular letter CO.DT.No. 15.15.001/H – 3917-3939/2004-05 dated October 28, 2004, we now forward herewith a copy of Office Memorandum F.No.2-8/2004 - NS-II dated October 29, 2004 on the captioned subject, the contents of which are self-explicit. Accordingly, you may advise immediately your designated branches in the matter. 2.  Please acknowledge the receipt. Yours faithfully (P. Loganathan) Assistant General Manager Encls: As above

Reproduced for reference with acknowledgment — Source: Reserve Bank of India · RBI/2010-11/562 · issued 09 Jun 2011. The plain-English explanation above is BankPulse’s own independent summary.

🖨 Print / Save as PDF 🔗 Copy link☆ Save for later