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National Savings Certificates (VIII Issue) Scheme & Rules, 2019


NOTIFICATION No. G.S.R. 919(E) dated 12th December 2019

In exercise of the power conferred by Section 3 of the Government Savings Promotion Act, 1873 (5 of 1873), the Central Government hereby makes the following scheme, namely:-

NSC 2019 Rule 1. Short title and commencement

NSC 2019 Rule 2. Definitions

(1) In this scheme, unless the context otherwise requires.

(2) Words and the expressions used herein but not defined shall have the meanings respectively assigned to them in the Act and the General Rules.

NSC 2019 Rule 3. Type of accounts

NSC 2019 Rule 4. Deposits

NSC 2019 Rule 5. Payment on Maturity

NSC 2019 Rule 6. Pledging of account

NSC 2019 Rule 7. Premature closure of account

NSC 2019 Rule 8. Transfer of account from one individual to another

An account may be transferred from one individual to another, subject to the condition that the transferee is eligible to open an account under this Scheme, in the following cases, namely:-

NSC 2019 Rule 9. Payment on the death of account holder

NSC 2019 Rule 10. Application of General Rules

NSC 2019 Rule 11. Power to relax

Updated : Dec 16, 2019