Maintenance of Government Accounts - Interest on Delayed Remittances and Excess/Double Reimbursement - ಆರ್ಬಿಐ - Reserve Bank of India
Maintenance of Government Accounts - Interest on Delayed Remittances and Excess/Double Reimbursement
RBI/2006-07/169
DGBA.GAD.No.H. 7377/42.01.011/2006-07
November 7, 2006
Kartika 16, 1928 (Saka)
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/2006/387(DGBA.GAD.No.H.17981/42.01.011 /2005-06) dated May 17, 2006 on the above 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
(A.S. Kulkarni )
Deputy General Manager