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REGISTERED NO. D. (D.N.)-72

The Gazette of India

EXTRAORDINARY

PART II—Section 3—Sub-section (i)

PUBLISHED BY AUTHORITY

No. 211J NEW DELHI, FRIDAY, JUNE 15, 1984/JAISTHA 25, 1906

Separate Paging is given to this Part in order that it may be filed as a separate

compilation

(1)

350 G1/84

MINISTRY OF FINANCE (Department of Economic Affairs)

New Delhi, the 15th June, 1984

NOTIFICATION

The Government of India hereby introduces a Nations) Deposits Scheme to proyide for a financial instrument for public investment. The Scheme shall aorae into force from 30th July, 1984.

2. Eligibility :

Deposits may be made by :—

(a) An individual singly.

(b) Individuals in joint names of not more than four psrsonj, on "both or survivor" or "Either or Sjrvivor" or "all or survivor(s)" or "anyone or survivor(s)" 'oasis.

(c) A Hindu undivided family.

(d) A firm.

(c) A oompany.

(f) A trust, and

(g) An association of persons whether incor-

porated or not.

3. Limit for investment :

There will be no maximum limit for investment in the deposits. The deposits should be in multiples of Rs. 1,000/- with a minimum of Rs. 1,000/-.

4. Period of deposit :

The deposits will be repaid on the expiry of four years from the date of deposit. Premature payments will be permitted after the expiry of one year from the date of deposit. The date of deposit will be the

date of receipt of the deposit amount by cash or the dafrs of realisation of cheque or draft as the case may bs.

5. Form of Deposit Receipt :

Djposit Receipts will bz issued to the depositors for the amount of deposit in two series (Series I and Sjjies II) in the forms prescribed in the Notification of the G yvjrnnwnt of India in thi Ministry of Finance (Daparitmnt of Economic Affairs) G.S.R. No. 451 (E) dated the 15th June, 1984.

6. Interest :

(i) The deposits Will bsar interest at the following

rates :—

annum If deposit is with- 4 years 10. 5% per drawn after the expiry of

-do- 3 years but before 10% per

2 Years 2 i Years 3 Years 3 I Years 4 Years

945.65 967.90 958.95 983.00 979.65 1 i Years 2 Years 2 i Years 3 Years 3 i Years

S;rics II : For each multiple of Rs. 1000/-

Rs.

After the expiry of Before the expiry of

1 j Years 2 Years 2 i Years 3 Years 3 j Years 4 Years

1 Year 1 j Years 2 Years 2 j Years 3 Years 3 i Years

1071.20 1108.70 1192.50 1246.20 1340.10 1407.10

(vi) Interest will cease from the date of maturity of the deposit receipt or premature encashment, as the case may be.

the expiry of annum

4 years

-do- 2 years but before 9 % psr the expiry of annum 3 years

-do- 1 year but before 7% per the expiry of annum 2 years

(ii) Interest will accrue only in respect of com- plete half year periods. Periods of less than half year will be ignored.

(iii) In respect of Series I, interest will be paid

at the end of every 6 months.

(iv) In respect of Series II, interest will be oom- pounded half-yearly and paid along with the principa at the tinv: of the maturity or at the time of premature payment as the case may be. On the expiry of four years, the encashment value of the deposit receipt will be Rs. 1505.85 for each multiple of Rs. 1000/

(v) If the deposit is withdrawn before maturi interest will be recalculated at the rate applicable the period for which the deposit is held, and in the c Series I, the deposit will be repaid after the adjustment pfths excess amount of interest already paid or accru- ed at the higher rate. The premature encashment values of the deposit receipts in the two series will be as under :—

Scries I : For each multiple of Rs. 1000/-

After the expiry of Before the expiry Rs.

of

1

2

3

1 Year

li Years

964. 40 7. Payment of Interest and repayment of deposits :

The interest as well" as the principal amount will be paid at the deposit office at which the deposit was made or transferred in cash or by way of banker's cheque or bank draft or by credit to the depositor's account maintained with the same deposit office in accordance with the instructions of the depositor.

8. Transferabtlity:

(i) The deposit can be transferred from one depo- sit office to another depOfit office of the same bank on a written request made by the deposit except in the mouth of March.

(ii) The deposit receipts are non-negotiable are not transferable except in favour of the deposit office where the deposit was made or transferred, for the limited purpose of availing of advance from that deposit offloe.

9. Eligibility for exemption from Income-tax :

Interest on the. deposits mftde under the Scheme together with interest on other Government securities and income from approved financial assets will qualify for exemption from Income-tax under Section 80L of the Income-tax Act, 1961 (43 of 1961) subject to a limit of Rs, 12,000/-. Interest will be paid with- out deduction of income-tax at source.

10. Eligibility for exemption from Wealth-tax :

The value of Ihe Deposit Receipt under the Scheme together with the value of other Government securities and other approved financial assets will qualify for exemption under Section 3 of the Wealth- tax Act, 1957 Qi of 1957), subject to a limit of Rs. 32,5,000/-.

11. Nomination :

CO A solo holder or a sole surviving holder of a

National Deposit Receipt (Sories I and Series II) who is not a minor, may nominate in the Form pres- cribed by the Public Debt (National Deposit Receipt) Rules, 1984 one or more persons who shall be entitled to the Deposit Receipt and to payment thereon, in the event of the death of the holder.

(ii) Where any amount is payable to two or more nominees and cither or any of them dies before 6uch payment becomes due, the title to the Deposit Re- ceipt shall vost in the survivor or survivors of those nominees and the amount being due thereon shall bo paid accordingly,

(iii) A nomination made by a holder of a Deposit Receipt may be varied by a fresh nomination made in ,the manner specified in the Public Debt (National Deposit Receipt) Rules, 1984 or may be cancelled by giving notice in writing to the Deposit Office in the manner prescribed by the said Rules.

(iv) Every nomination and every cancellation or variation thereof shall be registered at the Deposit Office and shall be effective from the date of such registration.

(v) If the nominee is a minor, the holder of the Deposit Receipt may appoint any person to receive the amount due in the e vent of his death during the minority of the nominee.

(vi) The fee for registration of a nomination or any cancellation thereof shall be as prescribe d by the Public Debt (National Deposit Receipt) Rules, ] 984.

12. Application for making deposits :~~

(i) Application for making deposits will be received

at th? following deposit offices :~

(a) tlta branohes of the State Bank of India as

per Annexure T; and

(b) th; branches of the Nationalised Banks as

per Aunexure II.

(ii) Applications shall be submitted in Form 1 as annexed hereto or as near thereto as the circumstances require.

(iii) Applications should be accompanied by the necessary payments in the form of cash or a local cheque or bank draft drawn in favour of the deposit office. Outstation cheques will not be accepted. The application should be accompanied by a challan in Form 2 as annexed hereto.

13. Discontinuance of the Scheme :

Th? S;h?m; may bs discontinued by the Govern-

ment at. iny time by issue of notification i'n tii/"nn™+*-

350 GT/84—1

14. Change in the Scheme :

The Central Government may make such changes in the terms of the Soheme as may be considered necessary and such changes will have effect prospec- tively,

[No. F. 4(3)-W&M/84]

NATIONAL DEPOSITS SHCEME

Andhra Pradesh Hyderabad Main Branch, Visa- khapatnam, Vijayawada, Masulipatharo, Guntur, Tenali, Rajahmundry, Kaki- nada, Nellore, Kurnool, Adoni, Nizamabad, Eluru, Bhimavaram, Anantapur, Tirupati, Vizianagram, Proddatur, Cuddapah, Warangal.

Assam Gauhati, Dibrugarh.

Bihar Patria, Main Branch, Dhanbad,

Bokaro Steel City, Jamshed pur, Ranchi, Gaya, Bhagal- pur, Muzaffarpur, Darbhanga Biharsharif, Monghyr, Arrah, Katihar,- Chapra. .

Gujarat Ahmedabad Main Branch, Surat, Vadodara, Rajkot, Ja,mnagar, Bhavnagar, Nadiad, Porbandar, Juna- gadh, Navsari, Bharuch.

Haryana Faridabad, RohUik, Yamuna Nagar, Ambala Cantonment, Panipat, Karnal, Sonepat, Bhivani, Hissar. •

Himachal Pradesh : Simla.

Jammu & Kashmir Srinagar, Jammu.

Karnataka Bangalore, Hubli, Gadag (Betgeri), Mysore, Manga- lorc, Belgaum, Gulbarga, Bellary, Davangere, Shimciga, Bijapur, Raichur, Tumkur, Mandya.

Kerala Cochin, Calicut, Alleppey, Trivandrum, Quilon, Palghe.t.

Madhya Pradesh Indorc, Jahalpur, Bhor-ai Main Branch, Gwalior, Durg, Rai- pur, Ujjain, Saugor,Bilaspur, Ratlam, Burhanpur, Khan- dwa, Reva.

Maharashtra Bombay Main Branch, Pune- Pimpri, Nagpur, Ulhasnagar,

Chinsurah, Serampore, Asaii sol, Burdwan, Durgapur, Kharagpur, Sihgun, Nabad- Wip, Balurghat.

Andaman & Nicobar

Islands Port Blair.

Chandigarh Chandigarh

Delhi Main Branch, New Delhi.

Kalyan, Dombivli, Colleoto- rate Thane, Bhiwandi, Sola- pur, Old Agra Road, Nasik, Nasik Road, Malegaon, Kolhapur, Iohal-Karanji, Aurangabad (Deocan), Jalna, Sangh, Amravati, Akola, Dhule, Nanded, Ahmednagar, Jalgaon, Bhusaval, Chandra - pur, Lathur, Parbhani, Oon- dia

Goa, Daman & Diu Panaji.

Pondioherry Pondicherry.

Manipur

Imphal

Meghalaya

ShiUong.

ANNEXURE n

NATIONAL DEPOSITS SCHEME Nagalaud

Kohima.

Orissa

LIST OF BRANCHES OF NATIONALISED BANKS

Cuttack, Routkela, Bhubanes- war, Puri, Berhampore (Gart- jam), SambaIpur.

; Location of the branch

Name of the Banks

Punjab

1. Central Bank

Ludhiaua, Amritsar, Jullundur, Patiala, Bhatinda, Pathankot, Batala.

of India.

Rajasthan

1. Bcmbay Main Office 2. Bombay—Andheri (East) 3. Bombay—Bandra (West) 4. Bombay—Grant Road 5. Bombay—Worli 6. Lai Darwaja Branch, Jaipur, Jodhpur, Ajmer, Kota, Bikaner City, Udaipur, Alwar, Bhilwara, Sriganga- nagar, Bharatpur, Sikar.

Ahmedabad

Sikkim

Gangtok.

Tamil Nadu

7- Ibrahimpura, Bhopal. 8. Gwalior 9. Jabalpur

10- Ratlam

2. Bank of

Maharashtra

1. Bombay—Fort Branch 2. Bombay—Shivaji Park 3. Bombay—Borivli (West) 4. Bombay—Thakurdwar Madras Main Branch, Kanchee- puram, Coimbatore, Tirupur, Valparai, Madurai, Dindigul, Tiruchirapalli, Salem, Tiru- nelveli, Tuicorin, Erode, Vellore, Thanjavur, Kum- bakonam, Nagercoil, Cudda- lore, Rajapalayarn.

Road

Tripura

Agartala.

Uttar Pradesh

5. Thane—Naupada Branch 6. Kalyan Main Branch 7. Tilak Road, Pune 8. Erandwana, Pune 9. Nasik City

10. Aurangabad City

3, Dena Bank

1. Bombay Main Office,

Horniman Circle 2. Dbarampeth, Nagpur 3 Ashram Road, Ahmedabad 4. Sector No. 22, Gandhi-

Napar

Kanpur Main Branch, Lucknow, Varanasi, Agra, Firo/abad? Allahabad, Meerut, Bareilly, Moradabad, Amroha, Sam- bhal, Aligarh, Gorakhpur, Saharanpur, Hardwar, Dehia Dun, Ghaziabad, Hapur, Jhansi, Shahjahanpur (Town Hall), Rampur, Muzaffar- nagar, Mathura, Farrukha- bad, Faizabad, Mirzapuv, Etawah, Jaunpur, Buland- shahr, Bahraich.

West Bengal

5. Amul Dairy Road, Anand 6. Khargate, Bhavnagar 7. Raopura, Vadodara 8. Kotsafil Road, Surat 9. Hamidia. Road, Bhopal

10. Alfunsc Albuqurque Road, Calcutta Main Branch, Howrah, Bally, Kimarhati, Dum Dum Cantonment, Garden Reach, BaUi-ugar, Barrackpore

Panaji

1. New Delhi, Parliament 4. Punjab National

Street.

Bank

u

5. Thanjapur Main 6. Tiruohirapalli Main 7. Trivandrum Main 8. Hyderabad, Bank Street

1. Bombay— Churchgate—

9. Bank of India

2. Delhi, Chandni Chowk 3. Delhi, Sadar Bazai 4. New Delhi, Nehru Place 5. Mall Road, Kanpux 6. Modinagar 7. Navyug Market,

Ghaziabad 8. Jammu Tawi 9. The Mall, Simla

10. Chandigarh, Sector 17 11. Arribala Cantonment 12. Civil Lines, Jullundur 13. Industrial Area,

Ludhiana

link branch

2. Bombay—Ballard Estate 3. Bombay—Andhori (West) 4, Bombay—Cumballa Hill 5. Bombay—Nariman Point 6. Kolhapur (Main) 7. Solapur 8. T.T. Nagar (Bhopal) 9. Devvas

10- Khandwa

10. BankofBaroda

14. Hall Bazar, Anintsar 15. Agra, Darcsi No. 2

5. Syndicate Bank 1. Bangalore, Cantonment 2. Bangalore, Jayanagar 3. Bangalore, Gandhinagar 4. Bangalore, Rajaji Nagar 5. Bangalore, Ssshadripuram 6. Bangalore, Malleshwaram

18th Cross

7. Karwar 8. Hampankatta, Mangaloro 9. DharwarMain

10. Trivandrum, Statue

Junction

6, Canara Bank

1. Bombay—Nanman Point

Branch

2. Bombay—Bandra (West) 3. Baroda—Post Box No. 18, Bank of Baroda Building, Mandvi

4. Baroda—Lokmanya Tilak

Road.

5. Rajkot—M.G. Road 6. Surat Main—Surat 7. Ahmedabad—Ellisbridge

branch

8. Allahabad—M.G. Road 9. Jaipur—Tripolia Bazar

branoh

10. Jhunjhunu—Gandhi Chowk

11. Union Bank of

1. Bangalore, M.G. Road 2. Shimoga Main 3. Kolar 4. Hassan 5. Madurai, Grant Central 6. Coimbatore, H.Q. Road 7. Erpdc, Park Road 8. Trichur, West Palace Road 9. Palghat, Big Bazar 10. Chalapuram, Calicut

7. Indian Bank 1. Madras, Mount Road 2. Salem, Main 3. Cuddalorc 4. Kanahipuram 5. Vellore, North Arcot 6. Pondicherry Main 7. Quilon 3. Himayatuagar Branoh,

Hyderabad

9. Chittoor

10. Vijayawada

,\

8. Indian Oversea:

Bank

s 1. Madras, Mount Road 2. Madras, Cathedral 3. Madras, Esplanade 4. Tirunelveli Junction

1. Bombay Samachar Marg-—

India

Bombay.

2. Bhat Bazar—Bombay 3. Kalbadevi—Bombay 4. Nepean Sea Road—Bombay 5. L.D. Ruparel Marg—

Bombay.

6. Poona Camp—Poona 7. Relief Road- -Ahmedabad 8. Alkapuri—Baroda 9. Indore Main

10. Rcwa 11. AJmer Main 12. Jaipur—S.D.M.H. Branoh 13. Uda.ipurMain 14. Luc know, Clark Avadh 13. Meerut Main

ik 1. Calcutta Main Branch, 12. Allahabad Bai;

Calcutta-1

2. Rash Behari Avenue Branch, Calcutta-20

3. Mukhram Kanoria Road

Branch HoWrah

4. Durgapur Branch

8. Rourkela Branch 9. Berhampur Branch, 5. Burdwan B ra nch 6. Agartala Branch—Tripura

West Bengal 7. Gauhati Branch

10. Malda—West Bengal 8. Patna Main Branch,

Patna-1

14. United Com- 1. Main Branch, Calcutta 9. Ranchi Bianch

rnorcialBank 2. Sarat Bose Road Branch, 10. Bhubaneshwar Branch

Calcutta 13. United Bank of 1. Old Court llouse Street,

3. Salt Lake Branch, Calcutta India Branch, Calcutta

4. Chourittghee Bianch, 2. Park Street Branch,

Calcutta Calcutta

5. Ranchi Main Branch 3. Alipore Branch, Calcutta 4. Royal Exchange Branch,

6. Fancy Bazar, Gauhati

Calcutta

7. Shillong 5. Dibrugarh Branch

8. Halsey Road, Kanpur 6. Cattack Branch

9. Sahidnagar, Bhubaneslvwar 1. Berhampur (Ganjam)

Branch.

10. Rourkela, Sector-5

FORM 1

NATIONAL DEPOSIT SCHEME*1

(Application for Issue of Deposit Receipt)

Receiving Office Application No

I/We

herewith tender the amount of in cash/cheque/demand draft as detailed in tho enclosed challan for the issue Rg . of deposit receipt/s. *I sorics'II scries as detailed hercunder.

Denomination No. of receipts required Amount Type of receipt required

(Rs-)

(Rs.)

__ _

@"Single"

Notes : 1.

(i) In the case of a firm, or an association of persons (other than a society registered under the Societies Regis- tration Act, 1860) or a body of i idividuals, along with the application a declaration in respect of its part- ners/member together with their specimen signatures duly attested by a banker, Income-tax Officer/Treasury Officer/Justice of Peace should be furnished.

(ii) In the case of a society registered under the Societies'Registration Act, 1860, the application should be accompanied by a true copy of the certificate of registration, a true copy of its up-to-date bye laws, rules and regulations and a copy of resolution (certified to be true by its principal officer) specifying the desig- nations and names of the officials who shall be entitled to make the deposit under the scheme and receive interest and repayments thereon.

(lii) In the case of a company the application should be accompanied by a true copy of its certificate of incor- poration, memorandum and articles of association.and a copy of resolution (certified to be true copy) showing that the person making the deposit on behalf of the company has been duly authorised to do so.

(iv) In the case of trust the application should be accompanied by a true copy of the trust deed an other docu- ment, if any, showing that the person making the deposit on bohalf of the trust has been duly authorised to do so.

(v) Any other documents as may be deemed necessary by the deposit office.

(vi) However, if any of the above said documents stay registered with the deposit office, the §ame need not be furnished with the application for.

*2. Strike out what is not applicable.

3. Separate application should be tendered for deposit receipt of I and II Series.

4. Application on behalf ot a minor should be signed his/her guardian.

5. Application on behalf of Hindu Undivided Family should be signed by the Karta of the Family.

(FOR OFFICE USE)

No

1. Amount of Rs Realised on

(Dato)

2

deposit receipts No. (s)

(Number)

(Serial Nos.)

for Rs

issued.

(Total Amount)

Branch Manager.

Received the Deposit receipt(s) No. (s)

dated

for Rs

Place :

Date :

Depositor/s

FORM 2

CHALI.AN

(Separate Challan to be used for Cash/Cheque /Draft etc.)

(Counterfoil)

Bank Braiich Bank Date paid into Branch the credit of National Deposit Scheme (Major Head Date 812 Special Deposits and Accounts—National Deposit Paid into the credit of National Deposit Scheme Scheme)

Rupees

Rupees

for issue of Deposit • (Rupees in words) Receipt(s) in favour of

Received payment

(Cashier) Rs

Date I

(Signature)

Branch Manager

Seal

(On the reverse)

Details of Cheque/Pay Order/Draft*

Name and branch of the Cheque/ Amount

Bank drawn on Draft No.

*The cheque/bank draft should be drawn on the branch of the bank at the place where the deposit is to be made.

Under no circumstances, payment by means of outstation/upcountry cheques will be accepted.

350 GI/84—3

FORMA

National Emblem

Government of India

National Deposit Receipt (Series I)

No - I Rs. 1000/5000/10,000 Date of Dtposit

Date of Maturity

Received from

'

( Ri. One thousand/Five thousand/Ten thousand (in words) as a deposit under the National Deposit Scheme, 1984, repayable on the expiry of 4 years from the date of deposit with interest at the rate of ]0.5 per cent per annum. The deposit amount is refundable at any time after the expiry of one year from the date of deposit with interest at the rate specified on the reverse of this roccipt.

Interest will be paid half-yearly on the completion of each period of 6 months from the date of deposit.

This receipt is issued subject to the terms and conditions laid down in the Government of India, Ministry of Finance Notification No. F.4(3)-W&M/84 Dated

tThe amount of deposit and interest is payable to *Both or survivor •Either or survivor

""All or survivoKs)

*Any one or survivor(i)

by oraei -if tue Resident of India

Governor

Reserve Bank of India

Name of thft Deposit Office

Signature of the Manager of the deposit

office.

tApplicablo only in the case of deposits made by two or more individuals jointly. *Strike off whichever is not applicable.

{, On the Reverse

Amount of half-yonrly interest Rs

_

Rs ._.. . (Rupees

Interest due on

Name of the paying office Signature of the paying

officer Date of payment

1.

2.

3.

4.

5.

6.

7.

8.

The half yearly interest payment will be made in cash at the Deposit Office where the deposit was made or to which it was transferred on presentation of this Deposit Receipt along with a rcce'pt Production of the depc sit receipt will not bo required in cases where interest payment is made by local cheque or bank draft or credit to the depositor's account maintained with the deposit office.

(i; Th? d^pjsits will b;ar interest at the following rates :—

If deposit is withdrawn after 4 years

10.5% per annum 3 years but before the expiry of 4 years 10 % per tinnum ,, 2 years but before the expiry of 3 years 9% per annum ,, 1 year but before the expiry of 2 years 7% per annum

(ii) Interest will b: payable in respect of each completed half-year and not for any period less than half year, Interest will ceaic from thefdate of maturity/pre-mature encashment.

t,iii) If the deposit is withdrawn before maturity, int rest will be recalculated at the rate applicable to the period for which deposit is hsld, and the deposit will be repaid r.ft *r adjustment of the excess amount of interest already paid at the higher rate, as shown bdow :—

Aft.r thejexpiry of

Bsforo the expiry of

For each multiple of Rs. 1000

Rs.

1 year

1 i years

964.40

11 years

2 years

945.65

2 years

2i years

967.90

21 years

3 years

958.95

3 years

3j years

983JX)

3i years

4 years

979.65

Receipt on Discharge

Received the amount of Rs

Rupees

(in figures) (in words) in cash/by cheque

being the amount refundable.

(Particulars of the cheque) —

Date :

(Signature^) ofholder(sj)

FORMB

National Emblem

Government of India

National Deposit Receipt (Scries II)

No

f~Ra. 1000/5000/10,800 | Date of Deposit

Date of Maturity

Received from

Rs. Oie thousand/Five thousand/Ten thousand (in words) as a deposit under the National Deposit Scheme, 1984 repayable on the expiry of 4 years from the date of deposit with interest at the rate of 10.5 per cent per annum. The encashment value of the deposit will be Rs. 1505.85 for each multiple of Rs. 1000. The deposit amount is refundable at any time after the expiry of one year from the date of deposit with interest at the rates specified on the reverse of of this receipt.

Intirest will b^ compounded half-yearly and paid alang^with principal at the time of maturity or at the time of pre-mature payment as the case may be. Interest will cease from the date of matiirity/pre-mature encashment. The amount of deposit together with interest payable will bo as speoifled on the rev^rs of this receipt.

This receipt is issued subject to the terms and conditions laid down in the Government of India, Ministry of Finance Notification No. F. 4(3)-W&M/84 dated

tThe amount of deposit and interest is payable to *Both or survivor •Either or Survivor * All or survivor(s) *Any one or survivor(s)

Name of the Deposit Office : By order of the President of India Date of Issue:

Governor,

Reserve Bank of India

tApplicable only in the case of deposits made by two or more individuals jointly. * Strike ofi whichever is not applicable.

Signature of the Manager of the deposit office.

On the reversa

(i) Ths deposits will bear interest at the following rates :—

If deposit is withdrawn after the expiry of 4 years

10.5% per annum -do- 3 years but before the expiry of 4 years 10 % per annum -do- 2 years but before the expiry of 3 years 9 % per annum -do- 1 year but before the expiry of 2 years 7% per annum

(ii) Interest will be payable in respect of each completed half year and not for any period less than half ycaf.

Interest will cease from the date of maturity/pre-mature encashment.

(iii) If the deposit is withdrawn before maturity, interest will be recalculated at the rate applicable to the period for which the deposit is held, and the deposit will bs repaid as shown below :—

After the expiry of

Before the expiry of

For each multiple of

Rs. 1000

                                                                                    Rs.
I year                              14 years                                      1071.20
1 i years                           2 years                                       1108.70
2 years                             24 years                                      1192.50
2i years                            3 years                                       1246.20
3 years                             34 years                                      1340.10
34 years                            4 years                                       1407.10
4 years                              • •

1\

Receipt on discharge

Received the amount of Rs

(in figures) Rupees (in words) in cash/by cheque

(Particulars of the cheque)

being the amount refundable.

Date :

(Signaturc(s) of holders) [F. 4(3)-W & M/84]

2. This notification shall come into force on the

1st day of April 1985.

[No. F.4(3)—W&M/84]

GSR No. 452(E).—In exercise of, the powers conferred by section 9A of the Public Debt Act, 1944 (18 of 1944), the Central Government hereby specifies the National Deposit Receipt (Series I and Series II) in the forms specified by Notification of the Government of India, in the Ministry of Finance, (Department of Economic Affairs) No. GSR 451(E) dated 15th June, 1984, as a Government security for the purposes of the said section.

[No. F. 4(3)—W & M/84]

GSR 453(E)—In exercise of the powers conferred by clause (iia) of s.tb-iection (1) of Section 80L and clause (vi) of sub-section (3) of section 194A of the Income-tax Act 1961 (43 of 1961), and clause (xxva) of sub-section (1) of section 5^of the Wealth-tax Act, 1957(27 of 1957), the Central Government here- by notifies that the National Deposit Scheme, 1984, notified by tho Government of India vide the Ministry of Finance, Department of Economic Affairs, Noti- fication No. F.4(3)-W&M/84 dated 15th June, 1984, shall bo the National Deposit Scheme for the pur- poses of the aforesaid provisions of the Income-tax Act, 1961 and the Wealth-tax Act, 1957.

G.S.R. 454(E).—Th; following draft of special rules, which the Central Government purposes to make in exercise of the powers conferred by section 28 of the public Debt Act, 1944 (18 of 1944), is hereby published as required by sub-section (1) of that section for the information of all persons likely to be affected thereby and notice is hereby given that the said draft will b: taken into consideration on or after the expiry of thirty days from the date of publication of this Notification in the Official Gazette.

Any objection or suggestion received from any pirson with respect to the said draft before the expirty of th3 period so specified will be considered by the Central Government.

DRAFT RULES

THE PUBLIC DEBT (NATIONAL DEPOSIT

RECEIPT) RULES, 1984

1. Short title and application : (1) These rules

may bi called th? Pablic Debt (National Deposit R-^eipt) Rules, 1984.

(2) They shall apply to a Government security in the form of National Deposit Receipt issued under rule (4)(b) of the public D-bt Rules, 1946.

2. Difinuions : In these rules, unless the context

otherwise requires,—

(1) "Ait" m^ins ths Public Dsbt Act, 1944 (18

of 1944

(2) "Btnk" means thi Reserve Bank of India;

(3) "defaced deposit receipt" means a deposit receipt which has b^en made illegible or ren- d;red undecipherable* in material parts;

(4) "dipoiit office" m=;ans any of th* branches of the State Gank of India and the nationa- lised banks included in Annexure I and II to the Scheme;

(5) "deposit rccMpt" m.ans National Deposit Receipt (Series I and Series II) issued under the scheme

(6) "Form" means a Form as set out in the

Scheduled to these rules;

(7) "Government" m?ans th; Central Govern-

ment;

(8) "lost deposit receipt" m:ans a deposit receipt which has actually been lost and shall not mean a deposit receipt which is in the adverse possession of any person other than the claim- ant;

(9) "multilated deposit receipt" means a deposit receipt which has been destroyed, torn or damaged in material parts thereof and the material parts of a deposit receipt arc those wh^re :

(i) the number, description and the amount

of the deposit receipt are recorded, or

(ii) the name of the depositor is written

(10) "Scheme" nrans the National Deposit Sche- me framed by the Government in terms of Notification No. F. 4(3)-W & M/84 dated 15th June, 1984.

3. Nomination in respect of a Deposit Receipt : (1) A sole holder or a sole survivingholder of a Go- vernment security issued in the form of a National Deposit Receipt (Series I and Series II) who is not a minor and who holds the Deposit Receipt in his individual capacity, may nominate a person or persons who shall bi entitled to the Deposit Receipt and to the payment thereon in the ev^nt of the d;ath of the holder;

Provided that—

(a) the person or each of the persons nominated is himself competent to hold a deposit receipt and

(b) the nomination is made before the maturity

of the deposit receipt

(?) Every nomination under sub-rule (1) whether in substitution of a nomination already made or not, shall be made in Form A-I

(3) A nomination made under this rule may, on a subsequent date, be cancelled in writing in Form A-II.

(4) As soon as possible after a nomination is made or a, nomination already made is cancelled, the persons making or cancelling the nomination shall send to the deposit ofive where the deposit w^s made or has b;en transferred, the form of nomination or cancellation, as the case may be, together with"the deposit receipt to which it rejp.tes, and thereupon the deposit office shall register the nomination, or, as the case may be the cancellation, in its books and return the deposit receipt with an endorsement thereon that a nomination has bjen made in respect of th; deposit receipt or that the nomination already made has been cancelled.

(5) The fee for the registration of a nomination or any calcellation thereof shaty be two rupees per deposit receipt, provided that no fe: shall be charged for the registration of the first momination in rtsp.ct of any deposit receipt.

(6) No nomination or cancellation of a nomi- nation shall take effect unless and until it has been registered in the deposit ofiV-e in accordance with this rule.

4. Non-transferability of deposit receipt. —A de- >osit receipt shall not be transferable except in favour af the deposit office where the deposit was made or ransferred for the limited purpose of availing of advance from that deposit qffice.

5. Consolidation or sub-division.—No consolida- tion or sub-division shall be permissible in respect of any deposit receipt.

6. Procedure when a deposit receipt is lost, etc — Where a deposit receipt is lost, stolen, destroyed, defaced or mulilated, either wholy or in part, the depositor should make an application to the deposit office where the deposit was made or is transferred, requesting for issue of a duplicate deposit receipt, duplicate deposit receipt will be issued on the deposit office being satisfied of the loss, theft, destruction, multilation or defacement of the deposit receipt and on the depositor furnishing a letter of indemnity in form B signed by the depositor and two sureties ap- proved by the deposit office and on payment of a fee of Rs. 5/-.

7. Disposal of Deposit Receipts which have been paid etc.— A deposit receipt in respect of which the amount of the pirncipal with interest due thereon has been paid or a deposit receipt in respect of which a duplicate deposit receipt has been issued may be- perforated, punched, cut or otherwise disposed of by the deposit, office in such manner as the deposit office may consider necessary to ensure that such deposit receipts are not misused.

8. Public Debt Rules, 1946 with certain exceptions not to apply to Gvernment securities governed by these rules :—The Public debt Rules 1946 except rule 4 thereof, shall not apply to such Government securities in the form of a National Deposit receipt (Series I and Series II), to which these rules apply.

[No. F.4(3)~W&M/84]

A. RANGACHARI, Jt. Secy.

FOfRM A-I

(See rule 3)

Nomination made under section 9B(1) of the Act and rule 3.

1. I

(Name and address) nominate the following person/s who shall, on my death have the right to receive payment of the amount for the time being due on the Deposit Receipt(s) specified below.

National Deposit Receipt Nominee(s)

Date of issue of Distinguish- Amount Name(s) Address Date of birth* Relationship to the receipt(s) ing number(s) Rs.

2. *As

Depositor

the sole nominee above is a minor on this date, I appoint Shri/Smt/Kumari

Nominee No.

to receive the amount for the time being due on the above receipt (name and address)

(s) in ths event of my death during the minority of the said nominee*¹"

t 3. This nomination is in substitution of the nomination dated .-

Signature/Thumb impression of the holder made by me and registered in your books on the which shall stand cancelled on registration of this nomination. Place Date Signature and address of withnesscs : 1. 2.

*Notto be filled in, unless nominee is a minor.

**Name of the nominee.

' *

fThis paragraph may be struck oft when the nomination is not in substitution of the one already made.

350 GI/84—4

FORM A-n

(See rule 3)

Notice of cancellation of nomination under section 9B(1) of the Act and rule 3

I

(name and address) do here- by cancel the nomination dated made by me in respect of the following Dsposit Receipt(s) and registered by the deposit office on the

(date).

Particulars of the National Deposit Receipt(s)

Date of Issue of Rec eipt(s) Destinguishing Number(s) Amount Rs.

Place :

Signature/Thumb impress of the holder Date :

Signature and addresses of witnesses :

1.

2.

FORMB

(See rule 6)

Letter of Indemnity with respect to issue of Duplicate Deposit Receipt

The

In consideration of the Government of India and

*issuing a duplicate

dated

due on

of National Deposit Receipt No favouring for Rs I/We hereby Qointly and severally) guarnatee and agree to hold the Government of India and the said their successors and assigns, harmless and indemnified from and against all consequences that may arise from their so doing and from payment of the original National Deposit Receipt and from and against all losses, charges and ex- penses in connection with the said National Deposit Receipt or duplicate.

Dated at

this day of 19

Signature(s) *The name of the deposit office.

VRINTBD BY THE MANAGER, GOVT. OF INDIA PRESS, KINO ROAD, NEW DELHI-110064

AND PUBLISHED BY THE CONTROLLER OF PUBLICATIONS, DBLBI-l 1 0 0 5 4, 1 9 84