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Discontinuation of physical pre-printed NSC and KVP certificates

Finance Ministry announcement of Discontinuation of physical pre-printed NSC and KVP certificates

Department of Finance has issued an OM on discontinuation of physical pre-printed NSC and KVP Certificates.

govt to discontinue issue physical certificate for small savings

F.No.1/04/2016-NS.II

Government of India

Ministry of Finance

Department of Economic Affairs (Budget Division)

North Block, New Delhi

Dated: 1st April, 2016

OFFICE MEMORANDUM

Subject: Discontinuation of physical pre-printed NSC and KVP certificates- reg.

The undersigned is directed to refer to this Department’s OM of even number dated 23rd March, 2016, through which guidelines regarding discontinuation of physical mode of National Savings Certificate and Kisan Vikas Patra certificate and introduction of e-mode were communicated. It was decided that the currently existing system of physical pre-printed certificates for KVP and NSC shall stand discontinued w.e.f. 1.4.2016 and shall be replaced by ‘National Savings Certificate/Kisan Vikas Patra Certificate on electronic — mode (e-mode). Till the CBS system transits to that e-mode, banks and post offices may choose to issue a physical certificate recorded on a passbook.

2. The serial numbers based on the new pattern allotted to the banks and the Department of Posts (DoP) with respect to KVP and NSC were detailed in the said OM. It is intimated that while issuing the certificate from 01.04.2016, Banks and Post Offices may use notification having G.S.R. No. 353 (E) dated 29.3.2016 for Kisan Vikas Patra and notification having G.S. R. No. 354 (E) dated 29.3.2016 for National Savings Certificate. It is intimated that these notifications are available on egazette.nic.in.

(Sigy Thomas Vaidhyan)

Deputy Secretary (Budget)

Download Finance Ministry F.No.1/04/2016-NS.II dated 01.04.2016

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