National Savings Recurring Deposit (Amendment) Scheme 2020: Table of Interest amount repayable to Depositor and Table of Amount payable to Nominee

National Savings Recurring Deposit (Amendment) Scheme 2020: Table of Interest amount repayable to Depositor and Table of Amount payable to Nominee

भारत का राजपत्र
The Gazette of India

सी.जी.-डी.एल.-अ.-09052020-219318
CG-DL-E-09052020-219318

असाधारण
EXTRAORDINARY

भाग II—खण्ड 3—उप–खण्ड (i)
PART II—Section 3—Sub-section (i)

प्राधिकार से प्रकाशित
PUBLISHED BY AUTHORITY

सं. 216] नई दिल्ली, शनिवार, मई 9, 2020/वैशाख 19, 1942

No. 216]  NEW DELHI, SATURDAY, MAY 9, 2020/VAISAKHA 19, 1942

MINISTRY OF FINANCE
(Department of Economic Affairs) 

NOTIFICATION

New Delhi, the 5th May, 2020

G.S.R. 285(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 to amend the National Savings Recurring Deposit Scheme, 2019, namely:-

1. (1) This Scheme may be called the National Savings Recurring Deposit (Amendment) Scheme, 2020.

(2) They shall be deemed to have come into force on the 1st day of April, 2020.

2. In the National Savings Recurring Deposit Scheme, 2019 (hereinafter referred to as the said Scheme), in paragraph 9, sub-paragraph (1), for the TABLE, the following TABLE shall be substituted, namely:-

“TABLE 1.1

3. In the said Scheme, in paragraph 10, in sub-paragraph (2), in clause (a),-

(i) in TABLE-1, for the heading, the following heading shall be substituted, namely:-

“[Amount inclusive of interest repayable on the accounts opened between 12th December, 2019 to 31st March, 2020 (both days inclusive) and continued with monthly deposits beyond the maturity period or maturity period as extended under sub-paragraph (1) of paragraph 10]”;

(ii)  after the “TABLE-1”, the following TABLE shall be inserted, namely:-

“TABLE-1.1

[Amount inclusive of interest repayable on the accounts opened on or after the 1st day of April, 2020 and continued with monthly deposits beyond the maturity period or maturity period as extended under sub-paragraph (1) of paragraph 10] 

4. In the said Scheme, in paragraph 11, in sub-paragraph (2),-

(a) in “TABLE-2”, for the heading, the following heading shall be substituted, namely:-

“[Amount inclusive of interest repayable on an account opened between 12th December, 2019 to 31st March, 2020 (both days inclusive) and continued without any fresh monthly deposit beyond the maturity period or maturity period as extended under sub-paragraph (1) of paragraph 11]”;

(b) after the “TABLE-2”, the following TABLE shall be inserted, namely:-

“TABLE-2.1

[Amount inclusive of interest repayable on the accounts opened on or after the 1st day of April, 2020 and continued without any fresh monthly deposits beyond the maturity period or maturity period as extended under sub-paragraph (1) of paragraph 11]

5. In the said Scheme, in paragraph 12, in sub-paragraph (1),-

(a) in “TABLE-2”, for the heading, the following heading shall be substituted, namely:-

“[Amount payable to legal heir or nominees on the death of the depositor in five years under this Scheme on the accounts opened between 12th December, 2019 to 31st March, 2020 (both days inclusive)and up to closure of the account]”;

after the “TABLE-2”, the following TABLE shall be inserted, namely:-

“TABLE-2.1

[Amount payable to legal heir or nominees on the death of the depositor in five years under this Scheme on the accounts opened on or after the 1st day of April, 2020 and up to closure of the account]

[F. No. 1/04/2019-NS]

RAJAT KUMAR MISHRA, Jt. Secy.

Note: The principal Scheme was published in the Gazette of India, Extraordinary, Part II, section 3, sub-section (i) vide notification number G. S. R. 918(E), dated the 12th December, 2019.

Click here to view/download the PDF of Government Savings Promotion Act Notification dated 05.05.2020