News Update

Untitled Document

MINISTRY OF FINANCE
(DEPARTMENT OF ECONOMIC AFFAIRS)
NEW DELHI

SAVINGS SCHEME NOTIFICATION

Dated: July 11, 2014

G.S.R.496(E). In pursuance of Section 5 of the Public Provident Fund Act, 1968, (23 of 1968), the Central Government hereby notifies that the subscriptions made to the Fund on or after the 1st day of April, 2014 and the balances at the credit of the subscriber shall bear interest at the rate of 8.7 per cent per second proviso, following proviso shall be inserted, namely:-

EXPLANATORY MEMORANDUM

The Ministry of Finance, Department of Economic Affairs (Budget Division) vide its O.M. No.6-1/2011-NS.II (Pt.), dated the 11th November, 2011 has communicated to all concerned the various decisions taken by the Government on the recommendations of the Shyamala Gopinath Committee for comprehensive review of National Small Savings Fund (NSSF). Accordingly, the rates of interests on various small savings schemes for the financial year 2014-15 revised with effect from 1st April 2014, have been communicated vide its O.M. No.6-1/2011-NS-II, dated the 4th March, 2014. It is certified that the interest of no deposit holder shall be prejudicially affected by the retrospective effect given to the notification.

F.No.6-1/2011-NS-II (Pt.II)

(Rajat Bhargava)
Jt. Secy.

Note:- The principal notification was published in the Gazette of India vide number S.O. 48(E), dated the 15th January, 2000 and subsequently amended vide numbers S.O. 192(E), dated the 1st March 2001, S.O. 271(E), dated the 1st March, 2002, S.O. 250(E), dated the 1st March, 2003, S.O. 2681(E), the 25th November 2011, S.O.904(E), dated the 25th April 2012, G.S.R. 401(E), dated the 25th June, 2013 and G.S.R. 225(E), dated the 13th March, 2014.