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Interest on Daily Balance Basis by BANKS

This query is : Resolved 
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(Querist)
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
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CA Ravi Sisodia

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

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Ghanshyam T Jha (Expert)
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.
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CA Devanshi Gandhi (Ajani)

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

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