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of <h1>NSC (VIII Issue) certificates bought after 15 Jan 2000: Rule 15 sets maturity payout Rs 190.12 per Rs 100</h1> Rule 15 of the National Savings Certificates (VIII Issue) Rules, 1989 is amended by inserting a new sub-rule prescribing the maturity value and annual interest accrual for certificates purchased on or after 15 January 2000. It fixes the amount payable on encashment after expiry of the maturity period at Rs. 190.12 for a Rs. 100 denomination, with proportionate amounts for other denominations. It further prescribes year-wise interest accrual amounts for each of the six years and provides that interest accrued at the end of each year up to the end of the fifth year is deemed reinvested and aggregated with the face value, with operative effect of determining the reinvestment treatment and the total amount payable on encashment for such certificates.
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