Revision of the interest of Small Savings

Revision of the interest of Small Savings

1^st NOTIFICATION

G.S.R. 620(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. (1) This Scheme may be called the National Savings Time Deposit (Third Amendment) Scheme, 2023.
   (2) It shall be deemed to have come into force on the 1st day of July, 2023.
   
2. In the National Savings Time Deposit Scheme, 2019, in paragraph 7,-
   (a) in sub-paragraph 1(D), for the words and figures, “on or after the 1st day of April, 2023”, the words, figures and brackets “between 1st April, 2023 and 30th June, 2023 (both days inclusive)” shall be substituted;
   (b) after sub-paragraph 1(D), the following sub-paragraph and Table shall be inserted, namely:-
   “1(E) The rate of interest as specified in the Table below shall be applicable to the deposit made on or after 1st day of July, 2023 under the Scheme.

TABLE

Explanatory Memorandum.- By giving retrospective effect to the National Savings Time Deposit (Third Amendment) Scheme, 2023 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 and G.S.R. 327(E), dated the 27th April, 2023

2^nd NOTIFICATION

G.S.R. 621(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 Recurring Deposit Scheme, 2019, namely:-

1. (1) This Scheme may be called the National Savings Recurring Deposit (Second Amendment) Scheme, 2023.
   (2) It shall be deemed to have come into force on the 1st day of July, 2023.
   
2. In the National Savings Recurring Deposit Scheme, 2019 (hereinafter referred to as the said Scheme), in paragraph 9, for the TABLE 1.1, the following TABLE shall be substituted, namely:-

“TABLE-1.1

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