MINISTRY OF FINANCE
(Department of Economic Affairs)
NOTIFICATION
New Delhi, the 5th May, 2020
G.S.R. 283(E).—In exercise of the powers conferred by section 3A of the Government Savings Promotion Act, 1873 (5 of 1873), the Central Government hereby makes the following Scheme to amend the Kisan Vikas Patra Scheme, 2019, namely:-
1. (1)This Scheme may be called the Kisan Vikas Patra (Amendment) Scheme, 2020.
(2) They shall be deemed to have come into force on the 1st day of April, 2020.
2. In the Kisan Vikas Patra Scheme, 2019 (hereinafter referred to as the said Scheme), in paragraph 5, for sub-paragraph (1), the following sub-paragraph shall be substituted, namely:-
“(1) The maturity period of an account opened between 12th December, 2019 to 31st March, 2020 (both days inclusive) shall be nine years and five months. Deposit made in the account shall double on maturity. Amount of maturity may be repaid to the account holder on an application in Form 2 submitted to the Accounts office.
(1A) Maturity period of an account opened on or after the 1st day of April, 2020 shall be ten years and four months. Deposit made in the account shall double on maturity.”
3. In the said Scheme, in paragraph 6, in sub-paragraph (3),-
(a) the words, brackets and figures “(Table showing premature closure value of account opened on or after date of notification with 1000 rupees)” shall be omitted;
(b) for the TABLE, the following TABLES shall be substituted, namely:-
“TABLE-1
[Table showing premature closure value of account opened between 12th December 2019 to 31st March 2020 (both days inclusive) with 1000 rupees]
| Period from the date of the certificate to the date of its encashment | Amount payable inclusive of interest (Rupees) |
| (1) | (2) |
| Two and half years but less than three years | 1173 |
| Three years but less than three and half years | 1211 |
| Three and half years but less than four years | 1251 |
| Four years but less than four and half years | 1291 |
| Four and half years but less than five years | 1333 |
| Five years but less than five and half years | 1377 |
| Five and half years but less than six years | 1421 |
| Six years but less than six and half years | 1467 |
| Six and half years but less than seven years | 1515 |
| Seven years but less than seven and half years | 1564 |
| Seven and half years but less than eight years | 1615 |
| Eight years but less than eight and half years | 1667 |
| Eight and half years but less than nine years | 1722 |
| Nine years but before Maturity of Certificate | 1778 |
| On maturity of certificate | 2000 |
TABLE-2
[Table showing premature closure value of account opened on or after the 1st day of April, 2020 with 1000 rupees]
| Period from the date of the account to the date of its pre-mature closure | Amount payable inclusive of interest (Rupees) |
| (1) | (2) |
| Two and half years but less than three years | 1154 |
| Three years but less than three and half years | 1188 |
| Three and half years but less than four years | 1222 |
| Four years but less than four and half years | 1258 |
| Four and half years but less than five years | 1294 |
| Five years but less than five and half years | 1332 |
| Five and half years but less than six years | 1371 |
| Six years but less than six and half years | 1411 |
| Six and half years but less than seven years | 1452 |
| Seven years but less than seven and half years | 1494 |
| Seven and half years but less than eight years | 1537 |
| Eight years but less than eight and half years | 1582 |
| Eight and half years but less than nine years | 1628 |
| Nine years but less than nine and half years | 1675 |
| Nine and half years but less than ten years | 1724 |
| Ten years but before Maturity of Certificate | 1774 |
| On maturity of certificate | 2000”. |
[F. No. 1/4/2019-NS]
RAJAT KUMAR MISHRA, Jt. Secy.
Note: The principal Scheme was published in the Gazette of India, Extraordinary, Part II, Section 3, sub-section (i) vide notification number G.S.R. 920(E), dated the 12th December, 2019.
Pls adv Premature closure value for the present rate of interest- investment made in October 2020