RBI/2006-2007/410
DGBA.GAD.No.H. 16665 /42.01.011/2006-07 May 23, 2007 The Chairman/Managing Director
State Bank of India & its Associates
All Nationalised Banks
Jammu & Kashmir Bank Ltd.
IDBI Ltd/HDFC Bank Ltd.
ICICI Bank Ltd. /UTI Bank Ltd. Dear Sir Maintenance of Government Accounts -
Interest on Delayed Remittances and
Excess/Double Reimbursement Please refer to our Circular No.RBI/2006/169 (DGBA.GAD.No.H.7377/42.01.011/2006-07) dated November 7, 2006 on the above subject. We advise that the rate of interest on delayed remittances and double/excess reimbursement would remain unchanged at 8% (i.e. Bank Rate - 6% + 2%) till further instructions. Yours faithfully (A.S. Kulkarni)
Deputy General Manager |