RBI/2007-2008/182
DGBA.GAD.No.5181/ 42.01.011 /2007-08 November 8, 2007 The Chairman & Managing Director/Managing Director
State Bank of India and 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 – Penal Interest on delayed remittances and excess/double reimbursement Please refer to our circular No.RBI/2007/410 (DGBA.GAD.No.H.16665 /42.01.011 /2007-08) May 23, 2007 on the captioned subject. 2. 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, (M.T.Varghese)
General Manager | |