CIRCULAR 3

Ref.DGBA.GA.NB.NO.394/41.02.001/97-98
6th February,1998
17th Magha 1919 (Saka)

The Chairman and Managing Director
State Bank of India & its Associates
AND
14 banks Natinoalised in 1969

Dear Sir,

Collection of CBEC dues Authorisation of a new branch of the nominated bank - procedure.

Please refer to our circular GA.NB.No.242/41.02.001/97-98 dated 17th November,1997 on the above subject advising therein that for authorising a new branch of the nominated bank. CBEC will communicate their approval after due examination to RBI who in turn will issue necessary instructions in this regard to all concerned. It is however clarified that approval for authorisation of a new branch of the nominated bank will be communicated to RBI by the Principal Chief Controller of Accounts, CBEC, New Delhi and not by CBEC. This procedure will hold good for sub-agency arrangements also. A suitable note of this may please be made in the circular referred to above.

Please acknowledge receipt.

Yours faithfully,

Sd/-
Asstt. General Manager