Para 15.17 — CAM
CAM
Original Rule Text
15.17 PAYMENT OF INTEREST ON DELAYED REMITTANCES 15.17.1 If there is any delay beyond the period prescribed above, i.e. T+1 working day, the banks are liable to be charged interest for delayed period. The interest for delayed remittance is to be quantified and collected from the defaulting bank by the concerned ZAOs. The rate of interest shall be charged as per guidelines issued by RBI and SoPs issued by O/o CGA from time to time.