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    Indira Vikas Patra Rules-I, 1986

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    Latest Laws Team
    The document summarizes new rules for two types of government savings certificates in India: 1) National Savings Certificate rules are amended to provide interest rates for certificates encashed after 2.5 years. Interest rates increase the longer the certificate is held, up to 5 years and 6 months. 2) Indira Vikas Patra rules are amended to allow encashment of certificates purchased on or after September 2, 1993 after 5 years and 6 months, by presenting them to the post office of issue. The notifications provide details of the amended rules and tables outlining interest rates.

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    Indira Vikas Patra Rules-I, 1986

    Uploaded by

    Latest Laws Team
    899 views2 pages
    The document summarizes new rules for two types of government savings certificates in India: 1) National Savings Certificate rules are amended to provide interest rates for certificates encashed after 2.5 years. Interest rates increase the longer the certificate is held, up to 5 years and 6 months. 2) Indira Vikas Patra rules are amended to allow encashment of certificates purchased on or after September 2, 1993 after 5 years and 6 months, by presenting them to the post office of issue. The notifications provide details of the amended rules and tables outlining interest rates.

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    Indira Vikas Patra Rules-I, 1986

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    The document summarizes new rules for two types of government savings certificates in India: 1) National Savings Certificate rules are amended to provide interest rates for certificates encashed after 2.5 years. Interest rates increase the longer the certificate is held, up to 5 years and 6 months. 2) Indira Vikas Patra rules are amended to allow encashment of certificates purchased on or after September 2, 1993 after 5 years and 6 months, by presenting them to the post office of issue. The notifications provide details of the amended rules and tables outlining interest rates.

    Copyright:

    © All Rights Reserved
    899 views2 pages

    Indira Vikas Patra Rules-I, 1986

    Uploaded by

    Latest Laws Team
    The document summarizes new rules for two types of government savings certificates in India: 1) National Savings Certificate rules are amended to provide interest rates for certificates encashed after 2.5 years. Interest rates increase the longer the certificate is held, up to 5 years and 6 months. 2) Indira Vikas Patra rules are amended to allow encashment of certificates purchased on or after September 2, 1993 after 5 years and 6 months, by presenting them to the post office of issue. The notifications provide details of the amended rules and tables outlining interest rates.

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    LatestLaws.

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    5

    interest, payable on encashment of the certificate at


    any time after the expiry of its maturity poriod shall
    be Rs. 200/- foi a denomination of Rs. 1000/- and at
    proportionate rate for any other denomination.";
    (b) in rule 13, after sub-rule (6), the following
    sub-rule shall hi inserted, namely:-
    "(7) Notwithstanding anything contained in rule
    12 or in sub-rule (1), if a certificato issued on or after
    2nd September, 1993 is encashod at any time after
    the expiry of two yean and six months from the date
    of the certificate, the amount payable inclusive of
    interest shall be as specified in tho Table given below
    for certificate of the denomination of Rs. 1000/-
    and at proportionate rate for any other denomination,
    namely:-
    TABLE

    Period from the date of the Amount pay-


    certificate to the date of its able inclusive*
    encashment of interest
    (in rupees)
    1. Two years and six months or 1310
    more but less than three
    years.
    2. Three years or more but loss 1420
    than three years and six
    months.
    3. Three years and six months or 1500
    more but less than four yoars.
    4. Four years or more but less 1620
    than four years and six months
    5. Four years and six months or 1730
    mote but less than five years.
    6. Five years or more but less than 1860
    five years and six months.
    [F.No. 2/24/93-NSII(4)] NOTIFICATION
    OM PAL SINGH, Under Secy.
    New Delhi, the 2nd September, 1993
    Note:-The principal rules were published vide notifi-
    cation GSR 370(E) dated 22-3-1988 and amended vide G.S.R. 589(E):—In exorcise of the powers con-
    GSR &1(C) dated 6-2-1989, GSR 8(E) dated 4-1-1990, ferred by Section 12 of the Government Savings
    GSR 728(E) dated 6-12-1991, GSR 432(E) dated Certificates Act, 1959 (46 of 1959), the Central Govern-
    24-4-1992 and GSR 567(C) dated 20-8-1993. ment hereby makos the following rules fuithor to
    U I
    r
    If I
    ..
    I I ^FITT
    amend the Indira Vikas Patra Rules, 1986, namely:-

    1. (1) These rule9 may be called the Indira Vikas


    Patra (Amendment) Rules, 1993.

    (2) They shall come into force on the date of their


    publication in the Official Gazotto.
    2. In the Indira Vikas Patra Rules, 1986, in
    rule 8- '
    LatestLaws.com
    6 THE GAZETTE OF INDIA: EXTRAORDINARY [PART I I - S I C . 3fi)]

    (i) after sub-rule (2A), the following sub-ruU) 2nd September, 1993" shall bo inserted.
    shall ba inserted, namely:-
    [F. No. 2/24/93-NS 11(5)]
    "2(B) Whero a cortiflcato of any denomination has OM PAL SINGH, Under Secy.
    bean purchased on or after tho 2nd September, 1993,
    it may ba encashed at aay time after tho oxpiry of Note:-The pnicipal rules were published vido notifi-
    five years and six months from the date of r-su^by cation GSR. 11S3(£) dated 5-11-1986 and amended
    presenting it befo o the Post Office of Issue." vide GSR 252(E) dated 5-12-1986, GSR 36o(E) dated
    1-4-19&7, GSR 408(E) dated 20-4-19(17, GSR 739(E)
    (ii) in sub-rulo (4), after tho words and figures, datod 31-8-1987, GSR 956(E) datod 3-12-1987 and
    namoly, "and on or before 29th day of February, GSR 11O(E) datod 1-3-1988 and GSR 72') (£) dalid
    1988", the words and figuros, namely "and on or after 28-7-1979.

    Printed by the Nfanager, Govt of India Press, Ring Road, Maya Puri, New Delhi-110064
    aad Tublished by the Controller of Publ'-'utions, Dilhi-llOvO54, 1993

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