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Kisan Vikas Patra (Amendment) Scheme, 2020 – Gazette Notification

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 IIखण्ड 3—उपखण्ड (i)
PART II—Section 3—Sub-section (i)

प्राधिकार से प्रकाशित
PUBLISHED BY AUTHORITY


सं. 216] नई दिल्लीशनिवारमई 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.

Click here to view/download the pdf of Kisan Vikas Patra (Amendment) Scheme, 2020 – Gazette Notification

Also check the following links related to this topic:

Kisan Vikas Patra Scheme 2019 – Gazette Notification

Public Provident Fund (Amendment) Scheme 2020 – Gazette Notification

National Savings Time Deposit (Amendment) Scheme 2020 – Gazette Notification

Sukanya Samriddhi Account (Amendment) Scheme, 2020 – Gazette Notification

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