<h1>India Amends Rules: Savings Bonds Can Now Be Used as Loan Collateral with Scheduled Banks Under Government Securities Act.</h1> The Government of India has amended notifications for the 7% Savings Bonds, 2002, 6.5% Savings (Non-Taxable) Bonds, 2003, and 8% Savings (Taxable) Bonds, 2003. These changes permit the use of these bonds as collateral for loans from Scheduled Banks. Bondholders can now create pledges, liens, or hypothecations in favor of these banks, as per the Government Securities Act, 2006, and the Government Securities Regulations, 2007. Other terms and conditions of these bonds remain unchanged.