> Home / More Current Affair News / Current Affair Detail

RBI allows premature encashment of 8% Savings (Taxable) Bonds



Updated On - Saturday, 31 August 2013

30 August 2013

MUMBAI,   The Reserve Bank today permitted premature encashment of 8 per cent Savings (Taxable) Bonds for individual investors who are 60 years and above.

This facility is after a minimum lock-in period of three years from the date of issue, the RBI said in a statement.

An investor, desiring to avail of the facility of premature encashment, will have to submit documentary evidence in support of his/her date of birth to satisfaction of the agency bank, it said.

In case of joint holders or more than two holders of Savings (Taxable) Bonds, 2003, any one of the holders should fulfil the above conditions of eligibility, it said in a communication to heads of all public sector banks.

However, partial encashment of amount invested on a single application is not permitted.

The statement further said that premature encashment of investment may be allowed even after despatch of interest warrant.

Suitable instructions to designated branches operating the scheme may be issued to make the changes in the system to absorb the premature encashment process, it added.

Published by: The Hindu Business Line

Entrance Exam Notice Board 2023
Entrance Exam Notice Board
All India
Central Universities Entrance Test (UG) (CUET- UG)
Exam Date : 05/21/2023 Last Date : 03/30/2023
Entrance Exam Notice Board
All India
Central Universities Entrance Test (PG) (CUET- PG)
Exam Date : Last Date : 04/19/2023
Entrance Exam Notice Board
All India
Admission Test for IcfaiTech (ATIT)
Exam Date : 05/25/2023 Last Date : 05/15/2023
Entrance Exam Notice Board
All India
Common Law Admission Test (CLAT)
Exam Date : 12/18/2022 Last Date : 11/18/2022
Entrance Exam Notice Board
All India
Maharashtra Master of Physical Education Common Entrance Test (MAH MPEd CET)
Exam Date : 04/23/2023 Last Date : 03/01/2023
Entrance Exam Notice Board
All India
Maharashtra LLB Common Entrance Test (MAH LLB CET)
Exam Date : 05/02/2023 Last Date : 03/25/2023
Entrance Exam Notice Board
All India
Maharashtra Master of Computer Application Common Entrance Test (MAH MCA CET)
Exam Date : Last Date : 03/11/2023
Entrance Exam Notice Board
All India
Maharashtra Master of Business Administration Common Entrance Test (MAH MBA/MMS CET)
Exam Date : Last Date : 03/06/2023
Entrance Exam Notice Board
All India
Maharashtra Common Entrance Test (MHTCET)
Exam Date : Last Date : 04/07/2023
Entrance Exam Notice Board
State Level
Telangana State Post Graduate Law Common Entrance Test (TS PGLCET)
Exam Date : 05/02/2023 Last Date : 05/03/2023
Entrance Exam Notice Board
State Level
Telangana State Law Common Entrance Test (TS LAWCET)
Exam Date : 05/02/2023 Last Date : 05/03/2023
Entrance Exam Notice Board
All India
Telangana State Engineering Common Entrance Test (TSECET)
Exam Date : 05/20/2023 Last Date : 05/12/2023
More...