Interest on Delayed Remittances and Excess/Double Reimbursement - ਆਰਬੀਆਈ - Reserve Bank of India
Interest on Delayed Remittances and Excess/Double Reimbursement
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
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