National Savings Recurring Deposit (Amendment) Rules, 2019

TG Team 16 Jul 2019 1,881 Views 1 comment Print Finance | Notifications, Notifications/Circulars

MINISTRY OF FINANCE
(Department of Economic Affairs)

NOTIFICATION

New Delhi, the 16th July, 2019

G.S.R. 502(E). – In exercise of the powers conferred by section 15 of the Government Savings Promotion Act, 1873 (5 of 1873), the Central Government hereby makes the following rules further to amend the National Savings Recurring Deposit Rules, 1981, namely:-

1. (1) These rules may be called the National Savings Recurring Deposit (Amendment) Rules, 2019.

(2) They shall deemed to have come into force on the 1^st day of July, 2019.

2. In the National Savings Recurring Deposit Rules, 1981 (hereinafter referred to as the said rules), in rule 9,—

(a) in the Schedule under clause (a) of sub-rule 1, for the last entries, the following entries shall be substituted, namely:-

“From 01.10.2018 to 30.06.2019 (both dates inclusive) …. 725.05

From 01.07.2019 onwards …. 723.14”.

(b) in the schedule under clause (a) of sub-rule (2), for the last entry, the following entries shall be substituted, namely:-

“From 01.10.2018 to 30.06.2019 (both dates inclusive) …. 725.05

From 01.07.2019 onwards …. 723.14”.

3. In rule 10 of the said rules, in sub-rule (2), in items (a) and (c), for the words and figures “Tables 1, 2, 11, 13, 17, 20, 22, 26, 29, 32, 35, 38, 41, 44, 47,50,53, 56, 59, 62, 65, 68 or 71”, the figures and words “Tables 1, 2, 11, 13 17, 20, 22, 26, 29, 32, 35, 38, 41, 44,47, 50, 53, 56, 59, 62, 65, 68, 71 or 74” shall be substituted.

14. In rule 11 of the said rules, in sub-rule (2), in items (b) and (c), for the words and figures “Tables 3, 4, 12, 14, 18, 21, 23, 27, 30, 33, 36, 39, 42, 45, 48, 51, 54, 57, 60, 63, 66, 69 or 72”, the words and figures “Tables 3, 4, 12, 14, 18, 21, 23, 27, 30, 33, 36, 39, 42, 45, 48, 51, 54, 57, 60, 63, 66, 69, 72 or 75” shall be substituted.

5. In rule 12 of the said rules,-

(a) in sub-rule (1), in item (b), in sub-item (ii), for the words and figures “Tables 5, 6, 7, 8, 9 10, 15, 16, 19, 24, 25, 28, 31, 34, 37, 40, 43 ,46, 49, 52, 55, 58, 61, 64, 67, 70 or 73”, the words and figures “Tables 5, 6, 7, 8, 9, 10, 15, 16, 19, 24, 25, 28, 31, 34, 37, 40, 43, 46, 49, 52,55, 58, 61, 64, 67, 70, 73 or 76” shall be substituted.

(b) in sub-rule (3) and sub-rule (4), for the words and figures “Tables 5, 6, 7, 8, 9, 10, 15, 16, 19, 24, 25, 28, 31, 34, 37, 40, 43, 46, 49, 52, 55, 58, 61, 64, 67, 70 or 73”, the words and figures “Tables 5, 6, 7, 8, 9, 10, 15, 16, 19, 24, 25, 28, 31, 34, 37, 40, 43, 46, 49, 52, 55, 58, 61, 64, 67, 70, 73 or 76” shall be substituted.

6. After Table 73 of the said rules, the following Tables shall be inserted, namely:-

TABLE 74
(See Rule 10)

Amount, inclusive of interest, payable on an account opened on or after the 1^st day of July, 2019 and continued, with monthly deposits, beyond the maturity period or maturity period as extended under sub-rule (1) of rule 7.

Number of completed years for which the account continued	Amount (Rupees) repayable on an account of `10 denomination
One year	901.38
Two years	1092.81
Three years	1298.40
Four years	1519.19
Five years	1756.32

Note: The amount repayable on an account of any other denomination shall be proportionate to the amount specified above.

TABLE 75

(See Rule 11)

Amount, inclusive of interest, repayable on an account opened on or after the 1^st day of July, 2019 and continued, without any fresh monthly deposits, beyond the maturity period or maturity period as extended under sub-rule (1) of rule7.

Number of completed years for which the account continued	Amount (Rupees) repayable on an account of `10 denomination
One year	776.63
Two years	834.07
Three years	895.77
Four years	962.02
Five years	1033.18

Note: The amount repayable on an account of any other denomination shall be proportionate to the amount specified above.

TABLE 76

(See Rule 12)

Amount, payable to legal heir or nominee on the death of the depositor in a Five Year Recurring Deposit Account opened on or after the 1^st day of July, 2019.

Number of deposits made	Amount (Rupee) for denomination of Rs. 10	No. of deposits made	Amount (Rupees) for denomination of Rs. 10
1 to 11	Deposits made	36	402.63
12	124.76	37	415.09
13	135.56	38	427.63
14	146.43	39	440.24
Number of deposits made	Amount (Rupee) for denomination of Rs. 10	No. of deposits made	Amount (Rupees) for denomination of Rs. 10
15	157.36	40	452.92
16	168.36	41	465.69
17	179.42	42	478.52
18	190.55	43	491.44
19	201.75	44	504.43
20	213.01	45	517.50
21	224.34	46	530.64
22	235.74	47	543.87
23	247.20	48	557.17
24	258.74	49	570.55
25	270.34	50	584.02
26	282.01	51	597.56
27	293.76	52	611.18
28	305.57	53	624.89
29	317.45	54	638.67
30	329.40	55	652.54
31	341.43	56	666.49
32	353.52	57	680.53
33	365.69	58	694.65
34	377.93	59	708.85
35	390.25	60	723.14

Note: The amounts shall be proportionate for other denominations.

[F. No. 1/04/2016-NS]

ARVIND SHRIVASTAVA, Jt. Secy.

Note : The Principal rules were published vide G. S. R. 666(E), dated the 17th December, 1981, and subsequently amended vide: – G.S.R. 301(E), dated the 1st April, 1982, G.S.R. 258(E), dated the 11th March, 1983, G.S.R. 62(E), dated the 14th February, 1984, G.S.R. 95(E), dated the 7th February, 1986, G.S.R. 194(E), dated the 13th February, 1986, G.S.R. 363(E), dated the 1st April, 1987, G.S.R. 39(E), dated the 16th January, 1988, G.S.R. 458(E), dated the 15th April, 1988, G.S. R. 708(E), dated the 21st July, 1989, G.S.R. 16(E), dated the 9th January, 1990, G.S.R. 190(E), dated the 27th March, 1991, G.S.R. 579(E), dated the 12th September, 1991, G.S.R. 918(E), dated the 11th December, 1992, G.S.R. 42(E), dated the 1st February, 1993, G.S.R. 587(E), dated the 2nd September, 1993, G.S.R. 2(E), dated the 1st January, 1999, G.S.R. 748(E), dated the 4th November, 1999, G.S.R. 44(E), dated the 15th January, 2000, G.S.R. 152(E), dated the 1st March, 2001, G.S.R. 160(E) dated the 1st March, 2002, G.S.R. 514(E), dated the 23rd July, 2002, G.S.R. 662(E), dated the 23rd September, 2002, G.S.R. 175(E), dated the 1st March, 2003, G.S.R. 588(E), dated the 25th July, 2003, G.S.R. 838 (E), dated the 27th December, 2004, G.S.R. 480(E), dated the 26th June, 2008 and G.S.R. 740(E), dated the 4th October, 2011 and G.S.R. 843(E), dated the 25th November, 2011, G.S.R. 320( E), dated the 25th April, 2012, G.S.R. 398 ( E), dated the 25th June, 2013, G.S.R. 221 ( E), dated 13th March, 2014, G.S.R. 491 (E), dated the 11th July, 2014, G.S.R. 355(E), dated the 29th March, 2016, G.S.R. 943 (E), dated the 30th September, 2016, G.S.R. 53 (E), dated the 18th January, 2017, G.S.R. 383 (E), dated the 31st March, 2017, G.S.R. 856 (E), dated the 30th June, 2017, G.S.R. 31 (E), dated the 1st January, 2018 and G.S.R. 959 (E), dated the 28th September, 2018.