Please refer to BCD Circular No.16 dated July 4, 1978 on the captioned subject, in terms of which banks are restricted from paying higher rates of return on the deposits of public sector agencies.

In  view of BPRD Circular No.14 dated June 16, 1998 instructions contained in BCD Circular No. 16 dated July 4, 1978 are no longer operative.

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