The Ministry of Finance (MoF) on April 28, 2023, notified the National Savings Certificates (VIII Issue) (Second Amendment) Scheme, 2023, to further amend the National Savings Certificates (VIII Issue) Scheme, 2019.
The following has been amended-
•in paragraph 5-
(a) in subparagraph (2B), for the words and figures, “on or after the 1st day of January 2023”, the following words, figures and brackets “between 1st January 2023 to 31st March 2023 (both days inclusive)” shall be substituted.
(b) after sub-paragraph (2B), the:- “(2C) The maturity value of an account opened on or after the 1st day of April 2023 with one thousand rupees shall be one thousand four hundred forty-nine rupees and three paisa and proportionate for deposits made with any other sum as per sub-paragraph (1) of paragraph 4. In the calculation of maturity value, any amount in fraction of a rupee shall be rounded off to the nearest rupee and for this purpose, any amount of fifty paise or more shall be treated as one rupee and any amount less than fifty paise shall be ignored.” sub-paragraph shall be inserted.
It shall be deemed to have come into force on April 01, 2023.
[Notification No. G.S.R.328(E)]
