MINISTRY OF FINANCE
(Department of Economic Affairs)
NOTIFICATION
New Delhi, the 12th February, 2024
G.S.R. 108(E).—In exercise of the powers conferred by section 3A of the Government Savings Promotion Act, 1873 (5 of 1873), the Central Government hereby makes the following Scheme further to amend the National Savings Time Deposit Scheme, 2019, namely:-
1. Short title and commencement.-(1) This Scheme may be called the National Savings Time Deposit (Amendment) Scheme, 2024.
(2) It shall be deemed to have come into force on the 1st day of January, 2024.
2. In the National Savings Time Deposit Scheme, 2019 (hereinafter referred to as the said Scheme), in paragraph 7,-
(a) in sub-paragraph 1(E), for the words, figures and letters, “on or after 1st day of July, 2023”, the words, figures, letters and brackets “between the 1st day of July, 2023 and 31st day of December, 2023 (both days inclusive)” shall be substituted;
(b) after sub-paragraph 1(E), the following sub-paragraph and Table shall be inserted, namely:-
“1(F) The rate of interest as specified in the Table below shall be applicable to the deposit made on or after the 1st day of January 2024 under the Scheme.
TABLE
Sl. No. | Category of account | Rate of interest (per cent. per annum) |
(1) | (2) | (3) |
1. | One-year | 6.9 |
2. | Two-years | 7.0 |
3. | Three-years | 7.1 |
4. | Five-years | 7.5” |
[F. No. 1/04/2016-NS]
ASHISH VACHHANI, Addl. Secy.
Explanatory Memorandum.- By giving retrospective effect to the National Savings Time Deposit (Amendment) Scheme, 2024, no one shall be adversely affected as a result of retrospective effect being given to this amendment.
Note : The principal Scheme was published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R. 922(E), dated the 12th December, 2019 and subsequently amended vide number G.S.R. 289(E), dated the 5th May, 2020, G.S.R. 838(E), dated the 22nd November, 2022, G.S.R. 53(E), dated the 20th January, 2023, G.S.R. 327(E), dated the 27th April, 2023, G.S.R. 620(E), dated the 23rd August, 2023 and G.S.R. 830(E), dated the 7th November, 2023.
Post a Comment