The Ministry of Finance (MoF) on September 05, 2024, issued the National Savings Scheme (Amendment) Rules, 2024 to further amend the National Savings Scheme Rules, 1992.
The following amendments have been stated:
In rule 6, in sub-rule (1), for clause (v), the following clauses shall be substituted, namely: -
“(v) For the period commencing from the 1st day of March 2003 but before 1st day of October 2024, the interest at the rate of seven-and-a-half per cent per annum shall be allowed for a calendar month on the lowest balance at credit of an account between the close of the tenth day and the end of the month and such interest shall be calculated and credited to the account at the end of each year.
(vi) The balances at the credit of the subscribers of the National Savings Scheme under these rules, on or after the 1st day of October 2024, shall bear no interest.
They shall come into force on September 05, 2024.
[Notification No. G.S.R. 537(E)]
