Special Deposit Scheme (SDS), 1975 –Revision of Rate of Interest

Last updated: 07 June 2012

Notice Date : 06 June 2012

RBI/2011-12/592

DGBA.CDD. No.H-7815/15.01.001/2011-12

June 06, 2012

The Chairman & Managing Director

Head Office (Government Accounts Department)

State Bank of India and its Associates/

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 (SDS), 1975 –Revision of Rate of Interest

The Government of India has vide Notifications, as detailed below, notified revision in the interest rates on the deposits under the Special Deposit Scheme for Non-Government Provident, Superannuation and Gratuity Funds, announced in the Ministry of Finance (Department of Economic Affairs) Notification No.F.16(1)-PD/75 dated June 30, 1975.

Notification details	Rate of Interest	With effect from
Government of India, Ministry of Finance (Department of Economic Affairs) Notification No.5(4) – B(PD)/2011 dated March 13, 2012	8.6% per annum (eight point six per cent per annum)	December 01, 2011
Government of India, Ministry of Finance (Department of Economic Affairs) Notification No.5(4) – B(PD)/2012 dated May 22, 2012 (to be published as a Gazette Notification)	8.8% per annum (eight point eight per cent per annum)	April 01, 2012 until further orders.

2. Copies of both the notifications are enclosed. You may please issue suitable instructions to all your Deposit offices and acknowledge receipt.

Yours faithfully,

(Sangeeta Lalwani)
Deputy General Manager

THE GAZETTE OF INDIA
EXTRAORDINARY
PART I - SEC. 1

No. 67 ]

New Delhi, TUESDAY, March 13, 2012 / PHALGUNA 23, 1933

MINISTRY OF FINANCE
(Department of Economic Affairs)

NOTIFICATION

New Delhi, the 13th March 2012

No. 5(4)-B(PD)/2011. – It is hereby notified that the deposits made under the Special Deposit Scheme for Non-Government Provident, Superannuation and Gratuity Funds, announced in the Ministry of Finance (Department of Economic Affairs) Notification No. F. 16(1)-PD/75, dated 30th June, 1975, shall with effect from 1st December, 2011 and until further orders, bear interest at 8.6% (eight point six per cent) per annum.

Brajendra Navnit
Dy. Secy. (Budget)

[TO BE PUBLISHED IN THE GAZETTE OF INDIA: EXTRAORDINARY, PART I – SEC. I]

Government of India
MINISTRY OF FINANCE
(Department of Economic Affairs)

NOTIFICATION

New Delhi, the 22nd May, 2012

No. 5(4)-B(PD)/2012. – It is hereby notified that the deposits made under the Special Deposit Scheme for Non-Government Provident, Superannuation and Gratuity Funds, announced in the Ministry of Finance (Department of Economic Affairs) Notification No. F. 16(1)-PD/75, dated 30th June, 1975, shall with effect from 1st April, 2012 and until further orders, bear interest at 8.8% (eight point eight per cent) per annum.

Brajendra Navnit
Deputy Secretary (Budget)