RBI Revises Operational Guidelines for Floating Rate Savings Bonds 2020
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- Last Updated on 6 April, 2026
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Circular No. RBI/2026-27/06 IDMD.RETL.No.S23/13.01.300/2026-27, Dated 02.04.2026
The Reserve Bank of India (RBI) has reviewed and revised the operational guidelines for Floating Rate Savings Bonds, 2020 (Taxable), exercising powers under Section 29(2) of the Government Securities Act, 2006.
1. Effective Date and Applicability
The revised guidelines are effective from the date of the circular and supersede the earlier operational guidelines issued in June 2020.
2. Comprehensive Framework for Issuance and Servicing
The updated guidelines provide a detailed framework for issuance and servicing of bonds through designated Receiving Offices, covering:
- Receipt and processing of applications
- Opening and maintenance of Bond Ledger Accounts (BLA)
- Nomination facilities
- Interest payments
- Premature encashment provisions
- Repayment on maturity
3. Handling of Special Cases
The guidelines also lay down procedures for:
- Recognition of claims in case of death of the investor
- Handling of unpaid or unclaimed amounts
- Processing of reimbursement claims
This ensures clarity and uniformity in dealing with exceptional situations.
4. Audit, Compliance, and Reporting Requirements
The framework includes provisions relating to:
- Audit and compliance checks
- Reconciliation and reporting obligations
- Ensuring accuracy and accountability in operations
5. Investor Services and Grievance Redressal
To enhance customer experience, the guidelines specify:
- Investor service standards
- Grievance redressal mechanisms
6. Operational Provisions for Receiving Offices
Additional provisions cover:
- Remuneration to Receiving Offices
- Penalties for non-compliance
- Preservation and maintenance of records
7. Conclusion
The revised guidelines provide a comprehensive and structured operational framework for Floating Rate Savings Bonds, ensuring efficient administration, improved investor protection, and enhanced regulatory oversight.
Click Here To Read The Full Circular
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