Premature encashment value of KVP Certificates purchased after 01.4.16 declared

By | April 1, 2016

THE GAZETTE OF INDIA : EXTRAORDINARY [PART II—SEC. 3(i)]

MINISTRY OF FINANCE

(Department of Economic Affairs)

NOTIFICATION

New Delhi, the 29th March, 2016

G.S.R. 353(E).–In exercise of the powers conferred by section 12 of the Government Savings Certificates Act, 1959 (46 of 1959), the Central Government hereby makes the following rules to amend the Kisan Vikas Patra Rules, 2014, namely:—

1. (1) These rules may be called the Kisan Vikas Patra (Amendment Rules), 2016.

(2) They shall deemed to have come into force on the 1st day of April, 2016.

2. In the Kisan Vikas Patra Rules, 2014 (hereinafter referred to as the said rules), in rule 16, in sub-rule (1), for the words eight years and four months, the words nine years and two months shall be substituted.

3. In the said rules, in rule 17, in sub-rule (3), the premature encashment value of Certificates purchased on or after 1.4.2016 but on or before 30.6.2016 shall be:-

kvp

[F. No. 1/4/2016-NS-II]

PRASHANT GOYAL, Jt. Secy.

Note : The principal rules were published vide G.S.R. 705(E), dated the 23rd September, 2014.

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