RBI Fund for depositor education
Mumbai, Jan. 10: To grant financial assistance to institutions/ organisations/ associations for taking up activities relating to promoting bank depositors’ education and awareness, the Reserve Bank of India has released on its website, the Guidelines on the Criteria for registering institutions, organisations and associations for grant of financial assistance from the Depositor Education and Awareness Fund.
The institutions, organisations, associations, not for profit public charitable trusts, corporates, and universities, already engaged in activities relating to bank depositors’ education and awareness or proposing to take up depositors’ education programmes, organising seminars, symposia, including research activities, can be considered for assistance.
Different entities may apply in the prescribed format to The Chief General Manager, Department of Banking Regulation, Reserve Bank of India, Central Office, 12th Floor, Central Office Building, Shahid Bhagat Singh Road, Mumbai – 400001. In the first tranche, applications will be received at the above address till February 27, 2015.
The Banking Laws (Amendment) Act, 2012, Section 26A has been inserted in the Banking Regulation Act, 1949 that empowers the Reserve Bank to establish a fund called Depositor Education and Awareness Fund.
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