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National Saving (Monthly Income Account) Scheme 2019


NOTIFICATION No. G.S.R. 917(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:-

NSMIS 2019 Rule 1. Short title and commencement

NSMIS 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.

NSMIS 2019 Rule 3. Opening of account

NSMIS 2019 Rule 4. Deposits and withdrawals

NSMIS 2019 Rule 5. Interest on deposit

NSMIS 2019 Rule 6. Premature closure of account

The account holder may be permitted to withdraw the deposit and close the account at any time after expiry of a period of one year from the date of opening of such account by making an application in Form-2, subject to the conditions that,-

NSMIS 2019 Rule 7. Closure of account

NSMIS 2019 Rule 8. Application of General Rules

NSMIS 2019 Rule 9. Power to relax

Updated : Dec 16, 2019