TaxTMI 
TaxTMI 
Revision of Interest Rates for NSC and KVP Certificates
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....discontinuation of pre-printed KVP and NSC certificates in Post Offices and Banks, is being postponed by a quarter, to 1-7-2016. All banks and the Department of Posts are requested to return the remaining stock of physical pre-printed KVP/NSC certificates at the close of business on 30-6-2016 to the ISP, Nasik. 3. It may be noted that no physically pre-printed KVP and NSC certificates may be issued on or after 1-7-2016 by banks or Post Offices. Two modes of issue of NSC/KVP certificates on and after 1-7-2016 4. The NSC/KVP certificates shall be issued in the following 2 modes on and after 1-7-2016 (a) Exclusive e-mode: The format for e-mode is given in Annex I for KVP and NSC. The Part A of the for....
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....ncelling all the pages by the authorized official. So far as possible, customer should be convinced to opt for "exclusive e-mode". This is to facilitate the transition to a paperless system. 6. In all cases, the system should be able to record with date the issue of NSC/KVP certificates under both the modes and keep track of the modes used by individual customers. The physical signature of the issuing officer at the time of issue of the certificate in pass-book mode should have designation stamp as the same is of crucial importance for establishing the authenticity of the certificate issued. In case of the pass-book mode, the Post Office or Bank Branch, shall take receipt of the pass-book by the customer or agent (when duly authori....
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....s. NSC or KVP once pledged should not be transferred unless security is released. 9. Transfer 10. In case of transfer of NSC or KVP from one person to another, both the persons shall apply for transfer of NSC or KVP in the prescribed format. The Post Office or Bank concerned shall allow transfer after applying due diligence and enable online viewing to the new owner if exclusive e-mode is applied and remove the NSC or KVP from the online view of old owner. 11. At the time of transfer of the KVP/NSC from one person to another, apart from the changes in the electronic database entries/physical office ledger entries as the case may be, Pass-book if already issued should be obtained in original and re-issued in the na....
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....KVP only in Pass-book mode by assigning Account/Registration number from the block of accounts allotted by their HOs. As and when these offices are migrated to CBS, new account/registration number should be allotted by CBS system and same should be informed to the customer. General instructions 15. The necessary software templates and arrangements may be put in place so as to implement these instructions and the contents of the annexes to this OM. The aim should be 'bare essential data-entry requirement' at the time of issue of the certificates of KVP and NSC to the investor. 16. This system shall remain in place till the KVP/NSC system is completely dematted or brought on e-mode by other means by the Mini....
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....encashment 9 Receipt Investor 1 Investor 2 Guardian in case investor is minor a Received a sum of Rs. b Name(s) c Signature 10 Name and signature of the official discharging the investment Part B: Additional details in the electronic form or office legder 11 (only the details needed and legally mandated are to be collected) Investor 1 Investor 2 Guardian in case investor is minor a Name b Father's/Mother's name c Ad....