Special Deposit Scheme 1975 – Payment of interest for the calendar year 2013

RBI/2013-14/415
DGBA.CDD. No.3622/15.01.001/2013-14

December 18, 2013

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,

Special Deposit Scheme 1975 –
Payment of interest for the calendar year 2013

Please refer to our letter DGBA.CDD.H-3717/15.01.001/2012-13 dated December 28, 2012, on the captioned subject.

2. In this connection, we advise that interest for the calendar year 2013 may be promptly disbursed to the SDS account holders @ 8.8% per annum from 1st January 2013 to 31st March 2013 and @ 8.7% per annum from 1st April 2013 to 31st December 2013 through electronic mode such as ECS/NECS/ NEFT/RTGS or by way of account payee cheques on January 01, 2014itself, 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 the receipt.

Yours faithfully,

(Surendra Prasad)
Assistant General Manager