Para 6 - Interest - Site Restoration Fund Scheme, 1999

Interest. 6. (1) Subject to sub-paragraph (2), the deposit shall carry interest at the highest rate for the applicable period as paid by the State Bank of India on the date the deposit is made for rupee term deposits prevailing at the end of the financial year. (2) Where during any financial year, any part of the deposit is withdrawn, the interest payable on the deposits shall be calculated on the basis of the minimum monthly balance in the account during each of the months in the financial year. (3) The interest payable for any financial year, or part thereof, shall only be credited to the account and shall not be payable to the depositor except as part of withdrawal for utilisation in terms of paragraph 9 or part of payment of balance on closure of account in terms of paragraph 12. (4) The gross interest credited to the account in a financial year shall be evidenced by a certificate issued in Form C, by the deposit office and the amount of such gross interest shall be deemed to be a deposit made by the depositor under this scheme in that financial year.