Ministry of Finance announces second amendment to Kisan Vikas Patra Scheme 2023

 Ministry of Finance announces second amendment to Kisan Vikas Patra Scheme 2023

MINISTRY OF FINANCE 
(Department of Economic Affairs) 
NOTIFICATION 

New Delhi, the 27th April, 2023

G.S.R324(E) — In exercise of the powers conferred by section 3A of the Government Savings Promotion Act, 1873 (5 of 1873), the Central Government hereby makes the following scheme further to amend the Kisan Vikas Patra Scheme, 2019, namely:-

1. (1) This Scheme may be called the Kisan Vikas Patra (Second Amendment) Scheme, 2023. 


(2) It shall be deemed to have come into force on the 1st day of April, 2023.

2. In the Kisan Vikas Patra Scheme, 2019 (hereinafter referred to as the said Scheme), in paragraph 5, –

1. in sub-paragraph (1D), for the words and figures, “on or after the 1st day of January, 2023”, the words, figures and brackets “between 1st January, 2023 and 31st March, 2023 (both days inclusive)” shall be substituted;
   
   
2. after sub-paragraph (1D), the following sub-paragraph shall be inserted, namely:-

“(1E) The maturity period of an account opened on or after the 1st day of April, 2023 shall be nine years and seven months and the deposits made in the account shall double on maturity.”.

3. In the said Scheme, in paragraph 6, in sub-paragraph (3),-

1. in TABLE•4, for the words and figures, “on or after the 1st day of January, 2023”, the words, figures and brackets “between 1st January, 2023 and 31st March, 2023 (both days inclusive)” shall be substituted;
   
   
2. after TABLE-4, the following TABLE shall be inserted, namely:-

TABLE-5

[Table showing premature closure value of account opened on or after 1st day of April, 2023 with 
1000 rupees]

1000 rupees]

Period from the date of the certificate to the date of its encashment	Amount payable inclusive of  interest (Rupees)
(1)	(2)
Two and half years but less than three years	1171
Three years but less than three and half years	1208
Three and half years but less than four years	1247
Four years but less than four and half years	1286
Four and half years but less than five years	1328
Five years but less than five and half years	1370
Five and half years but less than six years	1414
Six years but less than six and half years	1459
Six and half years but less than seven years	1506
Seven years but less than seven and half years	1554
Seven and half years but less than eight years	1604
Eight years but less than eight and half years	1655
Eight and half years but less than nine years	1708
Nine years but less than nine and half years	1763
Nine and half years but before Maturity of Certificate	1819
On maturity of certificate	2000″

[F. No. 1/04/2016-NS] 
ASHISH VACHHANI, Addl. Secy.