INDIRA VIKAS PATRAS (IVP)
Rules 4 and 8 of I.V.P. Rules are reproduced below.
Note :- The certificates were introduced w.e.f. 19 11.1986 and their sale discontinued w.e.f. the close of the business on 15.7 1999
- Purchase of certificates :-(1) The certificates of denominations of Rs. 200/-, Rs. 500/-, Rs. 1000/-, Rs. 5000/- may be purchased respectively for Rs. 100/-, Rs. 250/-, Rs. 500/- and Rs. 2,500.
- Encashment of certificate:- (1) A certificate of any denomination may be encashed at any time after the expiry of a period of five years from the date of issue by presenting it before the Post Office of issue.
(2) Where a certificate of any denomination has been purchased on or after the 1st April, 1987 to 29.2.1988, it may be encashed at any time after the expiry of a period of five and a half years from the date of issue by presenting it before the Post Office of issue.
(2A) Where a certificate of any denomination has been purchased on or after the 1st March, 1988, it may be encashed at any time after the expiry of a period of five years from the date of issue by presenting it before the Post Office of issue.
(2B) Where a certificate of any denomination has been purchased on or after the 2nd September, 1993 it may be encashed at any time after the expiry of five years and six months from the date of issue by presenting it before the Post Office of Issue.
(2C) Where a certificate of any denomination has been purchased on or after the 1st January, 1999 it may be encashed at any time after the expiry of six years from the date of issue by presenting it before the Post Office of issue.
Provided that a certificate may be encashed at any other Post Office if Officer- in-charge of that Post Office is satisfied on verification from the Post Office of issue that such certificate was issued by the said Post Office.
Note 1 :- The maturity period and maturity value of these certificates issued from time to time are as under :
Sl. Dates of issue Maturity Maturity value of
No. period each denomination
|
1. 2. 3. 4. 5. |
19.11.1986 to 31.3.1987 1.4.1987 to 29.2.1988 1.3.1988 to 1.9.1993 2.9.1993 to 31.12.1998 1.1.1999 to 15.7.1999 |
5 years 5 1/2 years 5 years 51/2 years 6 years |
Double Double Double Double Double |
Note 2:- Payment of maturity value by cheque :-The payment of maturity value on discharge of Indira Vikas Patras if it is Rs. 20,000 or more should be paid by cheque only by the post offices.
[D.G Posts letter No. 5-20/UP-06/2000-INV dated 28/29.8.2001]
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