Interest payment directive: timely disbursement to Special Deposit Scheme account holders by electronic transfer or account-payee cheque. Directs prompt payment of interest to holders under the Special Deposit Scheme 1975 for calendar year 2014 at the rate of 8.7% per annum, payable on 1 January 2015. Payments are to be effected by electronic channels (ECS/NECS/NEFT/RTGS) or account-payee cheque, subject to the procedural instructions set out in the December 30, 2003 circular. Banks must issue instructions to Deposit Offices and acknowledge receipt.
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Provisions expressly mentioned in the judgment/order text.
Interest payment directive: timely disbursement to Special Deposit Scheme account holders by electronic transfer or account-payee cheque.
Directs prompt payment of interest to holders under the Special Deposit Scheme 1975 for calendar year 2014 at the rate of 8.7% per annum, payable on 1 January 2015. Payments are to be effected by electronic channels (ECS/NECS/NEFT/RTGS) or account-payee cheque, subject to the procedural instructions set out in the December 30, 2003 circular. Banks must issue instructions to Deposit Offices and acknowledge receipt.
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