Company Profile
The issue of India’s Inflation Indexed National Savings Securities-Cumulative (IINSS-C) for retail investors will open for subscription on December 23, 2013 and close on December 31, 2013. The subscription can be closed earlier than December 31, 2013 with prior notice.
It may be recalled that the Reserve Bank of India, in consultation with Government of India, on November 29, 2013 announced issuance of Government of India’s Inflation Indexed National Savings Securities-Cumulative (IINSS-C) for retail investors.
Interest rate on these securities would be linked to final combined Consumer Price Index [CPI (Base: 2010=100)]. Interest rate would comprise two parts, i.e., fixed rate (1.5% per annum) and inflation rate based on CPI and the same will be compounded in the principal on half-yearly basis and paid at the time of maturity. The final combined CPI will be used with a lag of three months, i.e., final combined CPI for September 2013 will be used as reference CPI for all days of December 2013.
Early redemptions will be allowed after one year from the date of issue for senior citizens (i.e., 65 years and above of age) and 3 years for all others, subject to penalty charges at the rate of 50% of the last coupon payable for early redemption. Early redemptions, however, can be made only on coupon dates.
The eligible investors would include individuals, Hindu Undivided Family, Charitable Institutions registered under section 25 of the Indian Companies Act and Universities incorporated by Central, State or Provincial Act or declared to be a university under section 3 of the University Grants Commission Act, 1956 (3 of 1956).
Item Inflation Indexed National Savings Security-Cumulative
Limit of investment Minimum Rs. 5,000/- and Maximum investment Rs. 5,00,000/- per investor per annum
Date of Issue of bonds Date of receipt of funds/realization of cheque/draft
Interest Option Cumulative i.e. interest is payable at the time of maturity
Post Maturity
InterestPost Maturity Interest is not payable
Maturity period After 10 years
Issue Period 23rd December 2013 to 31st December 2013
Interest Rate Fixed 1.5% p.a. + inflation rate calculated with respect to final combined Consumer Price Index (CPI). Final combined CPI will be used with a lag of three months to calculate incremental inflation rate. Interest will be compounded with half yearly rests and will be payable on maturity along with the principal
Inflation Indexed National Saving Securities – Cumulative (IINSS-C) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Who can apply / invest?
Resident Individual, HUF, Charitable Institution, University
Important Information (Instructions)
a) Please fill up the application in all respects.
b) Incomplete applications are liable to result in delay of issue of the securities (at the cost of the investor).
c) In case the application is submitted by a Power of Attorney (POA) holder, please submit original POA for verification, along with an attested copy.
d) In case the application is on behalf of a minor, please submit the original birth certificate from the School or Municipal Authorities for verification, together with an attested copy.
e) Please note that nomination facility is available to a Sole Holder or all the joint holders (investors) of an IINSS-C Bond.
f) In case nominee is a minor, please indicate the date of birth of the minor and a guardian can be appointed.
g) Nomination facility is not available in case the investment is on behalf of minor.
h) Please notify the change of address immediately.
i) Post Maturity Interest Is Not Payable After Date Of Maturity. Hence Please Obtain Redemption Proceeds On The Due Date.
j) Indicate your date of birth/age.
k) Provide your bank account details for receiving payment through Electronic mode
l) Any information regarding tax applicability may be provided to the bank/branch.
Related posts:
- Cost of Inflation Index
- RBI Floating Rate Savings Bond 2020 Application Form & Investment Process
- SBI-ICICI-Axis-HDFC Bank GOI RBI Floating Rate Savings Bond 2020 (Taxable) Advisors
- HDFC Bank RBI GOI 8.05% Floating Rate Savings Bonds 2020 (Taxable) Application Form
- Govt. of India Floating Rate Savings (Taxable) Bond Investment Advisors
- RBI Floating Rate Savings Bond Advisors Brokers IFA Consultants Distributors
- Bank Rate, Repo, Reverse , CRR , MSF, SLR Rates of RBI
- Sovereign Gold Bond Scheme 2023-24 Series-IV
- PFC Capital Gains Bond Application Form
- IRFC Capital Gain Bond Application Form