Government of India

Ministry of Finance

Department of Economic Affairs

New Delhi, dated the April 19, 2017

NOTIFICATION

Amendment to Pradhan Mantri Garib Kalyan Deposit Scheme, Notification No.S.O.4061 E

S.O. -In exercise of the powers conferred by clause (c) of section 199B of the Finance Act, 2016 (28 of 2016) (hereinafter referred to as the Act), the Central Government hereby amends the conditions specified in clause 5 of the Pradhan Mantri Garib Kalyan Deposit Scheme notified vide Notification No.S.O.4061 (E) dated December 16, 2016, amended vide Notification No. S.O. 204(E) dated January 19, 2017 and further amended vide Notification No. S .O. 365 (E) dated February 07, 2017.

2. In place of clause 5 of the original notification the following shall be substituted:

“5. Effective date of deposit – The effective date of opening of the Bonds Ledger Account shall be the date of receipt of deposits by the Reserve Bank of India from the authorized banks; wherein the due tax, surcharge and penalty has been received till 31st March, 2017;

Provided further that the date of deposit shall in no case be extended beyond 30th April, 2017.”

Effective date of deposit set as central bank receipt; ledger opening depends on payment and deadline cannot be extended. The effective date for opening a Bonds Ledger Account is the date the central bank receives deposits from authorised banks where due tax, surcharge and penalty have been paid; the date of deposit cannot be extended beyond the prescribed final cutoff.