The Ministry of Finance (MoF) on October 03, 2023, issued the Government of India NSSF (C) (Non-trans) Special Securities, 2033-34
The following has been stated namely: -
• The Special securities will be issued for an amount of ₹1,00,000 (face value) and in multiples of ₹1,00,000 thereafter
• It states that the special securities will be issued in the form of 'Stock' to be held at the credit of the holder in the Subsidiary General Ledger Account maintained with Public Debt Office, Reserve Bank of India, Nagpur
• The tenure of the special securities will be 10 years from the date of issue
• The special securities shall bear the interest at the rate of 7.60% (Seven points six per percent) per annum which will be payable on a half-yearly basis reckoned from the date of issue of the special securities. Interest on the securities will be payable at the Public Debt Office (i.e. the office of Issue), Reserve Bank of India, Nagpur
• It states that the Interest will be paid after rounding off to the nearest hundred rupee
• It states that the Government of India shall exercise the ‘call option’ to redeem the special securities in ten equal installments starting from the next year from the date of the issue
[Notification No. 5/1/2023-NS]
