Authorization to receive subscriptions: designated bank branches may accept PPF and Senior Citizens deposits subject to remittance and compliance. Authorisation is granted to 111 Central Bank of India branches to receive subscriptions under the Public Provident Fund Scheme, 1968 and Senior Citizens Savings Scheme Rules, 2004, subject to remittance of all receipts to the Government Account at RBI, CAS, Nagpur within three days; penalties for delayed remittances are the interest payable to the depositor plus 0.5% for delays up to thirty days and plus 1% for delays beyond thirty days; compliance with scheme rules is mandatory and non observance may result in penal action including de authorisation and bank liability for pecuniary consequences.