The State Bank of India (SBI) has launched number of deposit schemes
to attract India Millennium Deposit (IMD) holders to reinvest their
money in the country. The Rs 37,000-crore of IMDs are due for
redemption on 29th December, 2005.

FAQ ON IMD

1. WHAT IS THE DATE OF REDEMPTION OF IMDS?
29th December, 2005.

2. WHAT ARE THE CURRENCIES IMDS WERE ISSUED IN?
US Dollar, EURO and GB Pounds.

3. WILL THE CURRENCY OF ISSUE OF IMDS BE THE SAME AS THE CURRENCY OF
REDEMPTION?
Yes, except if the IMDs have been gifted to an Indian resident in
which case the redemption proceeds will be paid in non-repatriable
Indian Rupees.

4. HOW WILL I GET THE REDEMPTION PROCEEDS?
Redemption proceeds will be paid by means of a cheques payable in:

USA for USD denominated payments,
Frankfurt for EURO denominated payments,
London for GBP denominated payments,
India for Rupee denominated payments.


Read more at: http://www.banknetindia.com/banking/IMD05.htm