SB Order No 07/2024: Amendments in National Savings Scheme Rules, 1987 and National Savings Scheme Rules, 1992

The SB Order No. 07 / 2024, dated 18.09.2024, issued by the Department of Posts, Ministry of Communications, provides details regarding amendments made to the National Savings Scheme Rules, 1987 and 1992. The order contains the following key points: Download SB Order No 07/2024 in PDF.

1. Amendments in National Savings Scheme Rules, 1992:

   • Interest at the rate of 7.5% per annum will be allowed for balances between March 1, 2003, and October 1, 2024. This interest is calculated monthly on the lowest balance and credited at the end of each year.
   • No interest will be allowed for balances on or after October 1, 2024.

2. Amendments in National Savings Scheme Rules, 1987:

   • The balances at the credit of subscribers under these rules, from October 1, 2024, will bear no interest.

The order emphasizes that the amendments have been published in the Gazette of India and are to be circulated widely for information and necessary action within the postal department. Copies of the G.S.R. 537(E) and G.S.R. 538(E) notifications have been forwarded for reference.

This communication also requests that the information be placed on notice boards in all post offices for public awareness.