Question: On 20 January 2017 Government of India amended the Pradhan Mantri Garib Kalyan Deposit Scheme (PMGKDS), 2016, which of the following banks are not authorised banks to accept deposits under PMGKDS, 2016?
(a) Regional Rural Banks
(b) Postal bank
(c) Cooperative Banks
(d) Private Bank
Ans: (c)
Related facts:
- On 20 January 2017; Government of India amended the Pradhan Mantri Garib Kalyan Deposit Scheme (PMGKDS), 2016.
- Under this Co-operative Banks are not authorised banks to accept deposits under PMGKDS, 2016.
- Application for the deposit in the form of Bonds Ledger Account shall be received by any banking company, other than Co-operative Banks, to which the Banking Regulation Act, 1949.
- It may be recalled that Government of India, in consultation with the Reserve Bank of India, had notified Pradhan Mantri Garib Kalyan Deposit Scheme (PMGKDS), 2016 on 16 December 2016.
- The deposit under this Scheme shall be made by any person who declared undisclosed income under Pradhan Mantri Garib Kalyan Yojana, 2016.
- The deposit sum, which shall not be less than twenty-five per cent of the declared undisclosed income, can be deposited at the authorized banks.
Reference:
http://pib.nic.in/newsite/PrintRelease.aspx?relid=157539