National Savings Scheme: interest allowance set at 8.5% (2002-03) and 7.5% thereafter, calculated on the lowest monthly balance. The amendment sets interest allowance and crediting: for the period commencing 1 March 2002 but before 1 March 2003 interest is 8.5% per annum, allowed monthly on the lowest balance between the close of the tenth day and month-end and calculated and credited annually; on and from 1 March 2003 interest is 7.5% per annum with the same monthly lowest-balance basis and annual crediting.
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.
National Savings Scheme: interest allowance set at 8.5% (2002-03) and 7.5% thereafter, calculated on the lowest monthly balance.
The amendment sets interest allowance and crediting: for the period commencing 1 March 2002 but before 1 March 2003 interest is 8.5% per annum, allowed monthly on the lowest balance between the close of the tenth day and month-end and calculated and credited annually; on and from 1 March 2003 interest is 7.5% per annum with the same monthly lowest-balance basis and annual crediting.
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