Special Deposit Scheme 1975 – Payment of interest for the calendar year 2014

RBI/2014-15/350
IDMD (DGBA).CDD.No.2600/15.01.001/2014-15

December 12, 2014

The Chairman & Managing Director 
Head Office
Government Accounts Department
State Bank of India / State Bank of Patiala
State Bank of Bikaner & Jaipur /State Bank of Travancore 
State Bank of Hyderabad / State Bank of Mysore
Allahabad Bank / Bank of Baroda / Bank of India / Bank of Maharashtra/
Canara Bank / Central Bank of India / Corporation Bank / Dena Bank / Indian Bank/ 
Indian Overseas Bank / Oriental Bank of Commerce / Punjab National Bank /
Syndicate Bank / UCO Bank / Union Bank of India / United Bank of India

Dear Sir/Madam,

Special Deposit Scheme 1975 –
Payment of interest for the calendar year 2014

Please refer to our letter DGBA.CDD. No. 3622 /15.01.001 / 2013-14 December 18, 2013 on the captioned subject.

2. In this connection, we advise that interest for the calendar year 2014 may be promptly disbursed to the SDS account holders @ 8.7% per annum from January 01, 2014 to December 31, 2014 through electronic mode such as ECS/NECS/ NEFT/RTGS or by way of account payee cheques on January 01, 2015 itself, subject to instructions, as applicable, contained in paragraphs 3 and 4 of our circular CO.DT.No.15.01.001/H-3527/2003-04 dated December 30, 2003.

3. Please issue suitable instructions to all your Deposit Offices and acknowledge the receipt.

Yours faithfully,

(Surendra Prasad)
Assistant General Manager