National Savings Monthly Income Account: deposits from April 1, 2023 bear 7.4% interest per annum. The amendment specifies that deposits between 1 January, 2023 and 31 March, 2023 fall within the substituted eligibility period and provides that deposits made under the Scheme on or after 1 April, 2023 shall bear interest at the rate of 7.4% per annum; the Scheme is effective from 1 April, 2023 and the memorandum states no person will be adversely affected by the retrospective operation.
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 Monthly Income Account: deposits from April 1, 2023 bear 7.4% interest per annum.
The amendment specifies that deposits between 1 January, 2023 and 31 March, 2023 fall within the substituted eligibility period and provides that deposits made under the Scheme on or after 1 April, 2023 shall bear interest at the rate of 7.4% per annum; the Scheme is effective from 1 April, 2023 and the memorandum states no person will be adversely affected by the retrospective operation.
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