DBOD. No.Dir.BC. 25/13.01.08/98

April 2, 1998
Chaitra 12, 1920 (Saka)

All Commercial Banks

(including Regional Rural Banks)

Dear Sir,

Opening of savings bank accounts in the name of Farmers' Clubs-Vikas Volunteer Vahini (VVV)

Please refer to paragraph 3(i) of our directive DBOD. No. Dir.BC. 151/C347-85 dated December 27, 1985, as amended from time to time, in terms of which banks have been prohibited from opening savings bank accounts in the name of certain bodies/organisations. Self Help Groups engaged in promoting the savings habit among their members were allowed to open savings bank accounts vide our circular DBOD No. DIR. BC.11/13.01.08/98 dated February 10, 1998. The issue relating to opening of savings bank accounts in the name of Farmers' Clubs - Vikas Volunteer Vahini (VVV) informal groups of rural farmers/entrepreneurs, has been examined and it has now been decided that such Farmers' Clubs may be allowed to open savings bank accounts with the designated banks.

Yours faithfully

(S.P. Padgaonkar)

Deputy General Manager