SB Order 07/2024 - Circulation of amendments in National Savings Scheme Rules, 1987 and National Savings Scheme Rules, 1992

SB Order No. 07 / 2024

No. FS-113-03/2024

भारत सरकार/ Government of India

संचार मंत्रालय / Ministry of Communications

sis विभाग / Department of Posts

वित्तीय सेवाएं प्रभाग / (Financial Services Division )

Dak Bhawan, New Delhi - 110001

Dated: 18.09.2024

To
All Heads of Circles / Regions

Subject: Circulation of amendments in National Savings Scheme Rules, 1987 and National Savings Scheme Rules, 1992- Reg.

Madam/Sir,

The undersigned is directed to forward copies of the Gazette notifications dated 29.08.2024 issued by Department of Economic Affairs, Ministry of Finance and published in e-Gazette on 05.09.2024 in connection with the amendments in rules related to National Savings Schemes.

(i). G.S.R. 537(E)- National Savings Scheme (Amendment) Rules, 2024.

(ii).G.S.R. 538(E)- National Savings Scheme Rules, 1987.

2.Rules amended in National Savings Scheme Rules, 1992.

(a).In rule 6, in sub-rule (1), for clause (v), the following clauses shall be substituted namely:-

(v).For the period commencing from the 1st day of March, 2003 but before 1st day of October, 2024, the interest at the rate of seven-and-a-half per cent per annum shall be allowed for a calendar month on the lowest balance at credit of an account between the close of the tenth day and the end of the month and such interest shall be calculated and credited to the account at the end of each year.

(vi). The balances at the credit of the subscribers of the National Savings Scheme under these rules, on or after the 1st day of October, 2024, shall bear no interest.

3.Rules amended in National Savings Scheme Rules, 1987- In exercise of the powers conferred by sub-rule (1) of rule 6 of the National Savings Scheme Rules, 1987, and in supersession of the notification of the Government of India in the Ministry of Finance (Department of Economic Affairs), number G.S.R. 177(E), dated the 1st

18/9/2024

March, 2003, except as respects things done or omitted to be done before such supersession, the Central Government hereby notifies that the balances at the credit of the subscribers of the National Savings Scheme under the said rules, on or after the 1st day of October, 2024, shall bear no interest.

4.It is requested to circulate it to all concerned for information, guidance and necessary action. Same may also be placed on the notice board of all Post Offices in public area.

5.This issues with the approval of competent authority.

Yours faithfully,

18/9/2024

(Devender Kumar Sharma) Assistant Director (SB-II)

Copy to:

1. Sr. PPS to Secretary (Posts)

2. PS to Director General Postal Services.

3. PPS/PS to Addl. DG (Co-ordination)/Member (Banking)/ Member (O)/ Member(P) /Member (Planning & HRD)/Member (PLI)/Member (Tech)/AS & FA 4. Addl. Director General, APS, New Delhi

5. Chief General Manager, BD Directorate / Parcel Directorate / PLI Directorate

6. Sr. Deputy Director General (Vigilance) & CVO) / Sr. Dy. Director General (PAF)

7. Director, RAKNPA / GM, CEPT/ Directors of all PTCs

8. Director General P & T (Audit), Civil Lines, New Delhi

9. Secretary, Postal Services Board/ All Deputy Directors General

10. All General Managers (Finance) / Directors Postal Accounts / DDAP

11. Chief Engineer (Civil), Posta1 Directorate

12. All Sections of Postal Directorate

13. All recognized Federations / Unions / Associations

14. GM, CEPT for kind information and necessary actions.

15. Deputy Secretary, DEA, MOF, NS-II, North Block, New Delhi - 110001.

16. Joint Director & HOD, ICCW Building, 4 Deendayal Upadhyay Marg, New Delhi 

17. e-file/Guard File

(Devender Kumar Sharma) Assistant Director (SB-II)

 Source: https://utilities.cept.gov.in/dop/pdfbind.ashx?id=11069