Issuance of interest certificate for National Savings Certificate
|Name||Issuance of interest certificate for National Savings Certificate|
|Mininstry||Ministry of Communications|
|Department||Department of Posts|
|Order No||SB Order No. 17/2023, No. FS-10/2 7/2020-FS-DOP|
|Issue Date||Dated: 24.08.2023|
SB Order No. 17/2023
No. FS-10/2 7/2020-FS-DOP
Government of India
Ministry of Communications
Department of Posts
(Financial Services Division)
Dak Bhawan, New Delhi — 110001
All Head of Circles / Regions
Subject: Issuance of interest certificate for National Savings Certificate — Reg.
Madan / Sir,
It has been noticed that many grievances are received in this office in connection with the non-issue of interest certificates By the post offices on the basis of the annual accrual of interest.
2. In accordance with Rule 5(3) of NSC scheme 2019, “A certificate of annual accrual of interest should be issued by the accounts office, on demand, to the account holder”.
3. At present, interest certificates are to be issued by the post offices by generating from Finacle. However, there is no provision in Finacle to generate an interest certificate on the basis of accrual of annual interest and hence the same is to be prepared manually for issue to the depositors on demand, in respect of NSC. A proforma, in which the certificate of annual accrual of interest certificate is, to be issued by the post offices is attached herewith.
4. The Annual Accrual Interest Tables are available on India Post Website which may be referred by the post offices, for calculation of annual accrual of interest in case of NSCs.
5. Hence, till the provision is made in Finacle for the generation of interest certificates on accrual of annual interest basis, post offices should issue the interest certificate in the proforma attached herewith.
6. It is requested to circulate to all the offices concerned for information, guidance and necessary action.
7. This is issued with the approval of the Competent Authority.
Enel: As Above.
(T C VIJAYAN)
Assistant Director (SB-1)
DEPARTMENT OF POSTS
CERTIFICATE OF ANNUAL ACCRUAL OF INTEREST
ON NATIONAL SAVINGS CERTIFICATE (NSC)
TO WHOMSOEVER IT MAY CONCERN
This is to certify an amount of ₹ ____________ has accrued as interest for the year _________ on National Savings Certificate (VIII Issue and IX Issue) particularized below standing in the name of Shri/Smt. ________________________________ at this post office.
|Sl. No.||Savings Certificate Number / NSC Account Number||Date of Issue / Date of opening of account||Deposit Amount in ₹||Interest accrued in ₹|
Date Stamp of Post Office
Signature of Postmaster/Sub Postmaster