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