Interest on National Savings Scheme accounts will cease for balances on or after the latest prescribed date. Interest under the National Savings Scheme Rules is computed monthly on the lowest balance between the close of the tenth day and month-end, credited annually, and subject to a rounding rule (fractions of fifty paise or more rounded up; less disregarded). Successive notified rates applied for successive periods, and a recent amendment provides that balances shall bear no interest from the latest prescribed date.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Interest on National Savings Scheme accounts will cease for balances on or after the latest prescribed date.
Interest under the National Savings Scheme Rules is computed monthly on the lowest balance between the close of the tenth day and month-end, credited annually, and subject to a rounding rule (fractions of fifty paise or more rounded up; less disregarded). Successive notified rates applied for successive periods, and a recent amendment provides that balances shall bear no interest from the latest prescribed date.
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