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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.

(This article was published in the Business Line print edition dated December 19, 2006)
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