Master Directions on Relief/Savings Bonds
The Reserve Bank of India has issued master directions for Relief/Savings Bonds, covering three key areas:
Appointment/Delisting of Brokers
The directions outline the procedure for enrollment/registration of brokers, appointment of sub-agents by Agency banks, and delisting of brokers.
Payment & Rates of Brokerage for Savings Bonds
The directions specify the rates of brokerage, exemption from TDS on payment of brokerage, and the process for brokerage claims.
Nomination Facility for Relief/Savings Bonds
The directions provide for nomination facility, which should be made before the maturity of the bond, with exceptions and a process for cancellation of nomination.
Chat with the Master Direction: