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Interest on Daily Balance Basis by BANKS

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Ankit (Querist)
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10 April 2010 Hello

Can anyone tell me that a move which was proposed by RBI that banks should give credit of interest on daily balance basis from 1 april

Is it still in proposal or its now implemented?

Thanks

CA Ravi Sisodia

CA Ravi Sisodia (Expert)
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10 April 2010 its implemented.

Ghanshyam T Jha

Ghanshyam T Jha (Expert)
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11 April 2010 I agree with Mr. Ravi but I would like to add some point to you that Interest will be given on daily balance but Interest amount will be credit in your account by half yearly.

CA Devanshi Gandhi (Ajani)

CA Devanshi Gandhi (Ajani) (Expert)
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11 April 2010 agree

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