Master Directions on Relief/Savings Bonds
The Reserve Bank of India has issued master directions for Relief/Savings Bonds, covering three key areas:
A) Appointment/Delisting of Brokers
The directions outline the procedure for enrollment/registration of brokers, appointment of sub-agents by Receiving Offices, and delisting of brokers.
B) Payment & Rates of Brokerage for Savings Bonds
The directions specify the rates of brokerage, clarify that no TDS is applicable on payment of brokerage, and provide guidelines for brokerage claims.
C) Nomination Facility for Relief/Savings Bonds
The directions provide exceptions for the nomination facility for Relief/Savings Bonds.
The appendix provides additional information and guidelines for the implementation of these master directions.
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