Special Deposit Scheme 1975 – Payment of interest for the calendar year 2012

 Special Deposit Scheme 1975 – Payment of interest for the calendar year 2012

RBI/2012-13/347
DGBA.CDD. No. H- 3415 /15.01.001 / 2012-13

December 24, 2012

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

Madam/Dear Sir,

Special Deposit Scheme 1975 –
Payment of interest for the calendar year 2012

Please refer to our letter DGBA.CDD.H-3986/15.01.001/2011-12 dated December 22, 2011, on the captioned subject.

2. In this connection, we advise that interest for the calendar year 2012 may be promptly disbursed to the SDS account holders, @ of 8.6% per annum from 1st January 2012 to 31st March 2012 and @ 8.8% per annum from 1st April 2012 to 31st December 2012, through electronic mode such as ECS/NECS/ NEFT/RTGS or by way of account payee cheques on January 01, 2012 itself, subject to instructions, as applicable now, 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 receipt.

Yours faithfully,

(Surendra Prasad)
Manager