National Savings (Monthly Income Account) (Amendment) Scheme, 2020 – Gazette Notification

National Savings (Monthly Income Account) (Amendment) Scheme, 2020 – Revised Interest rate w.e.f 1st April, 2020 – 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. 286(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 (Monthly Income Account) Scheme, 2019, namely:-

1. (1) This Scheme may be called the National Savings (Monthly Income Account) (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 (Monthly Income Account) Scheme, 2019, in paragraph 5, for sub-paragraph (1), the following sub-paragraphs shall be substituted, namely:-

“(1) The deposit made under this Scheme between 12th December, 2019 to 31st March, 2020 (both days inclusive) shall bear interest at the rate of 7.6 per cent. per annum.

(1A) The deposit made under this Scheme on or after the 1st day of April, 2020 shall bear interest at the rate of 6.6 per cent. per annum.”

[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. 917(E), dated the 12th December, 2019.

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