UCBs - Payment of Interest on Savings Bank Account on Daily Product Basis - আৰবিআই - Reserve Bank of India
UCBs - Payment of Interest on Savings Bank Account on Daily Product Basis
RBI/2009-10/339 March 4, 2010 Chief Executive Officer Dear Sir, Payment of Interest on Savings Bank Account on Daily Product Basis Please refer to our circular UBD (PCB) BPD.Cir.No. 7/13.01.000/2009-10 dated September 1, 2009 advising banks to put in place requisite infrastructure so that transition to the revised procedure of calculating interest on balances in savings bank accounts on a daily product basis could be implemented smoothly. 2. We advise that payment of interest on savings bank accounts may be made by banks on a daily product basis with effect from April 1, 2010. Yours faithfully, (A.K. Khound) |