Kisan Vikas Patra (Amendment) Scheme, 2020

Kisan Vikas Patra (Amendment) Scheme, 2020 – Maturity Period and Premature Closure Value Table: Gazette Notification dated 05.05.2020

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. 283(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 Kisan Vikas Patra Scheme, 2019, namely:-

(1) This Scheme may be called the Kisan Vikas Patra (Amendment) Scheme, 2020.

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

In the Kisan Vikas Patra Scheme, 2019 (hereinafter referred to as the said Scheme), in paragraph 5, for sub- paragraph (1), the following sub-paragraph shall be substituted, namely:-

“(1) The maturity period of an account opened between 12th December, 2019 to 31st March, 2020 (both days inclusive) shall be nine years and five months. Deposit made in the account shall double on maturity. Amount of maturity may be repaid to the account holder on an application in Form 2 submitted to the Accounts office.

(1A) Maturity period of an account opened on or after the 1st day of April, 2020 shall be ten years and four months. Deposit made in the account shall double on maturity.”

In the said Scheme, in paragraph 6, in sub-paragraph (3),-

(a) the words, brackets and figures “(Table showing premature closure value of account opened on or after date of notification with 1000 rupees)” shall be omitted;

(b) for the TABLE, the following TABLES shall be substituted, namely:-

“TABLE-1

[Table showing premature closure value of account opened between 12th December 2019 to 31st March 2020 (both days inclusive) with 1000 rupees]

Period from the date of the certificate to the date of its encashment	Amount payable inclusive of interest (Rupees)
(1)	(2)
Two and half years but less than three years	1173
Three years but less than three and half years	1211
Three and half years but less than four years	1251
Four years but less than four and half years	1291
Four and half years but less than five years	1333
Five years but less than five and half years	1377
Five and half years but less than six years	1421
Six years but less than six and half years	1467
Six and half years but less than seven years	1515
Seven years but less than seven and half years	1564
Seven and half years but less than eight years	1615
Eight years but less than eight and half years	1667
Eight and half years but less than nine years	1722
Nine years but before Maturity of Certificate	1778
On maturity of certificate	2000

TABLE-2

[Table showing premature closure value of account opened on or after the 1st day of April, 2020 with 1000 rupees]

Period from the date of the account to the date of its pre-mature closure	Amount payable inclusive of interest (Rupees)
(1)	(2)
Two and half years but less than three years	1154
Three years but less than three and half years	1188
Three and half years but less than four years	1222
Four years but less than four and half years	1258
Four and half years but less than five years	1294
Five years but less than five and half years	1332
Five and half years but less than six years	1371
Six years but less than six and half years	1411
Six and half years but less than seven years	1452
Seven years but less than seven and half years	1494
Seven and half years but less than eight years	1537
Eight years but less than eight and half years	1582
Eight and half years but less than nine years	1628
Nine years but less than nine and half years	1675
Nine and half years but less than ten years	1724
Ten years but before Maturity of Certificate	1774
On maturity of certificate	2000”.

[F. No. 1/4/2019-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. 920(E), dated the 12th December, 2019.

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