National Savings Certificates amended: revised maturity values, interest schedules and premature-closure payables with effective date 1 April 2020. The Scheme amends maturity values, interest-accrual schedules and premature-closure payables for National Savings Certificates, establishing two regimes: one for certificates purchased 12 December 2019-31 March 2020 (maturity value Rs. 1,462.54 per Rs. 1,000) and another for certificates purchased on or after 1 April 2020 (maturity value Rs. 1,389.49 per Rs. 1,000). It prescribes rounding rules for fractions of a rupee and substitutes distinct five-year annual interest tables and premature-closure payment tables, with amounts proportionate for other denominations.
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National Savings Certificates amended: revised maturity values, interest schedules and premature-closure payables with effective date 1 April 2020.
The Scheme amends maturity values, interest-accrual schedules and premature-closure payables for National Savings Certificates, establishing two regimes: one for certificates purchased 12 December 2019-31 March 2020 (maturity value Rs. 1,462.54 per Rs. 1,000) and another for certificates purchased on or after 1 April 2020 (maturity value Rs. 1,389.49 per Rs. 1,000). It prescribes rounding rules for fractions of a rupee and substitutes distinct five-year annual interest tables and premature-closure payment tables, with amounts proportionate for other denominations.
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