https://www.taxtmi.com/circulars?id=54352 These Directions require scheduled commercial banks to adopt board approved, publicly disclosed and uniform interest rate policies for domestic and specified non resident deposit accounts, mandate non negotiability and transparency of rates, prescribe interest calculation conventions (including daily product for savings and benchmark linkage for floating term deposits), set rules for tenor and size based rate differentiation, govern premature withdrawal interest and penalty disclosure, allow limited additional interest schemes for staff and senior citizens, regulate conversion and treatment of non resident deposits on return to India, and prohibit incentive based deposit mobilisation except narrow permitted exceptions. en-us Thu, 03 Mar 2016 00:00:00 +0530 Mon, 21 Mar 2016 17:51:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=54352 These Directions require scheduled commercial banks to adopt board approved, publicly disclosed and uniform interest rate policies for domestic and specified non resident deposit accounts, mandate non negotiability and transparency of rates, prescribe interest calculation conventions (including daily product for savings and benchmark linkage for floating term deposits), set rules for tenor and size based rate differentiation, govern premature withdrawal interest and penalty disclosure, allow limited additional interest schemes for staff and senior citizens, regulate conversion and treatment of non resident deposits on return to India, and prohibit incentive based deposit mobilisation except narrow permitted exceptions. Circulars FEMA Thu, 03 Mar 2016 00:00:00 +0530 https://www.taxtmi.com/circulars?id=54352