RBI/2016-17/251
IDMD.CDD.No. 2347/14.04.051/2016-17
March
16, 2017
The Chairman/CEO/ Managing
Director,
All Authorised Banks,
(All Banks to which Banking Regulation Act, 1949 applies)
Dear Sir/Madam,
Pradhan
Mantri Garib Kalyan Deposit Scheme (PMGKDS), 2016 - Clarification
Please refer to our letter
IDMD.No.1451/08.03.016/2016-17 dated December 16, 2016 and Notification
No. S.O.4061(E) dated December 16, 2016 issued by the Government of
India about announcement of “Pradan Mantri Garib Kalyan Deposit Scheme
(PMGKDS), 2016. It has been brought to our notice that there is lack of
clarity amongst investors on the reference number that needs to be quoted
on Form V while uploading the same to the Income tax Authorities.
Currently, banks are issuing an
acknowledgement for having received the amounts under PMGKDS. The details
of the deposit are then entered in the Bank’s e-kuber application which
generates a “Subscription Receipt”. The “Subscription Receipt” which is a
system generated receipt, has an “Issue Reference No”. This reference
number will need to be quoted by the investor in the Form V of
Income Tax Authorites, prior to uploading the same.
In order to bring in greater
clarity, the nomenclature of “Issue Reference No” generated by e-kuber is
being renamed as “Deposit Reference No”. Necessary changes have been made
in RBI’s e-Kuber application to reflect this change. The staff of receiving
banks under PMGKDS may be sensitized to take note of above changes and
advise the depositors of PMGKDS, 2016 accordingly.
Yours faithfully,
(A. Mangalagiri)
Chief General Manager
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