Corporate Updates 15 April 2014


The Central Government vide NOTIFICATION NO. GSR 225(E) [F.NO.2/7/2012-NS-II], DATED 13-3-2014 fixes an amount of initial minimum subscription of Rs. 100 for every individual desirous of subscribing to PPF for the first time either on his own or on behalf of a minor of whom he is the guardian. Earlier there was no minimum fixed amount of deposit for opening of PPF account. Further, online/electronic payments in PPF Account have been allowed if account holder is maintaining account with a Bank or Post Office working on Core Banking Platform.


The Reserve Bank of India on 10th April 2014 placed on its website Draft Report on Working Group on Pricing of Credit. Comments/feedback on the recommendations of the draft report may be sent by May 16, 2014 by email or by post to the Principal Chief General Manager, Reserve Bank of India, Department of Banking Operations and Development, Mumbai-400001.

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