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On the basis of the decision of the Government, interest rates for small savings schemes are to be notified on quarterly basis. Accordingly, the rates of interest on various small savings schemes for the second quarter of financial year 2016-17, on the basis of the interest compounding/payment built-in in the schemes, shall be as under:
On the basis of the decisions of the Government, interest rates for small savings schemes are to be notified on quarterly Accordingly , the rates of interest on various small savings schemes for the second quarter of financial year 2016-17 , on the basis of the interest compounding/payment built-in in the schemes, shall be as under :
It was decided that the currently existing system of physical pre-printed certificates for KVP and NSC shall stand discontinued w.e.f. 1.4.2016 and shall be replaced by ‘National Savings Certificate/Kisan Vikas Patra Certificate on electronic – mode (e-mode) . Till the CBS system transits to that e-mode, banks and post offices may choose to issue a physical certificate recorded on a passbook.
The authorized agent will register himself/herself with a branch of a bank by submitting a copy of his/her valid certificate of authority to the Branch Manager and also produce original certificate of authority for verification as and when required by the bank.
The Government of India have vide their Office Memorandum (OM) No.6/01/2011-NS.II dated March 31, 2015, advised the rate of interest on various small savings schemes for the financial year 2015-16. Accordingly, the rates of interest on PPF 1968, SCSS 2004, Kisan Vikas Patra & Sukanya Samriddhi Account Scheme for the financial year 2015-16, effective from April 01, 2015, on the basis of the interest compounding/payment built-in in the schemes, will be as under:
Office Memorandum (OM) No.6/01/2011-NS.II dated March 31, 2015 Government Announces Interest Rates for Various Small Savings Schemes; Rates to Come Into Force with Effect from Tomorrow It was decided by the Government of India that interest rates on Small savings Schemes will be linked to yields on government securities of comparable maturity. In pursuance of […]
Major Policy Initiatives, Programmes/Schemes Announced and Achievements Made with Regard to the Ministry of Finance in Last Seven Months Actions to curb Black Money First major decision taken by the present Government after taking over reins of power in May, 2014 was to constitute a Special Investigating Team (SIT) to implement the decision of the […]
FM to Relaunch Kisan Vikas Patra (KVP); Available to the Investors in the Denomination of Rs. 1000, 5000, 10,000 and 50,000, with no Upper Ceiling on Investment; Investment made in the KVP will Double in 100 Months
MINISTRY OF FINANCE (Department of Economic Affairs) NOTIFICATION New Delhi, the 23rd September, 2014 GSA- 705(E).—ln exercise of the powers conferred by section 12 of the Government Saving Certificates Act, 1959 (46 of 1959) and in suppression of the Kisan Vikas Patra Rules, 1988 except as respects things done or omitted to be done before […]
It is notified for general information that the sale of Kisan Vikas Patras shall be discontinued with effect from the close of business on Wednesday, the 30th November, 2011.
