Wednesday, October 19, 2016

Revised Kisan Credit Card (KCC) Scheme


Besides the mandatory crop insurance the KCC holder should have the option to take benefit of any type of asset insurance accident insurance including PAIS, and health insurance ( wherever product is available) and have premium paid through his KCC account. Premium has to be bourne by the farmer/ Bank according to the terms of the scheme. Farmer beneficiaries must be made aware of the insurance cover available and their consent (except in case of crop insurance where it is mandatory)is to be obtained at the application stage itself.
Based on RBI master circular dated 13/10/16. For any further clarification, please refer www.rbi.org.in

Revised Interest Rates on Government Small Savings Schemes


Scheme
Rate of Interest wef 1/10/16 to 31/12/16
Savings Deposit
4
1 year Time Deposit
7
2 year Time Deposit
7.1
3 year Time Deposit
7.3
5 year Time Deposit
7.8
5 year Recurring Deposit
7.3
5 year Sr Citizen Savings Scheme
8.5
5 year Monthly Income Account Scheme
7.7
5 year National Savings Certificate
8.0
Public Provident Fund     
8.0
Kisan Vikas Patra
7.7 ( will mature in 112 months)
Sukanya Samriddhi Account
8.5
Special Deposit Scheme for Non-Government Provident , Superannuation and Gratuity Funds


8