Business Daily from THE HINDU group of publications
Tuesday, Dec 19, 2006

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Money & Banking - Financial Policy
SDS rates unchanged at 8 pc

Our Bureau

Mumbai, Dec. 18

The interest on special deposit accounts for the calendar year 2006 will remain unchanged at 8 per cent per annum, said the Reserve Bank of India in a notification.

The RBI has asked the banks to pay 8 per cent interest to SDS account holders by way of account payee cheques, as the Union Government has confirmed that the interest rate would remain at 8 per cent. The RBI has also asked the banks to ensure disbursement of interest for 2006 in the first week of January 2007, the notice said.

More Stories on : Financial Policy | Fixed Deposits

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Stories in this Section
Formal finance for informal sector

RBI mulls interest for EEFC balances
Rupee marginally down
Infosys plans to strengthen Finacle platform
Allahabad Bank to offer reverse mortgage
SDS rates unchanged at 8 pc
Expansion plans pep up UTI Bank
SBI amendment Bill introduced
Suguna Poultry, SBI in pact for contract farming
Debt market volumes hit 2-year high in November
Bond prices gain 25 paise
`Rate hike has not hit credit growth'
Call rates move up
Co-branded card
Acceptance of cheques at counters
Federal Bank scouts for buys

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