TMI BlogIssue of Inflation Indexed National Savings Securities - Cumulative, 2013X X X X Extracts X X X X X X X X Extracts X X X X ..... (b) in individual capacity on joint basis, or (c) in individual capacity on anyone or survivor basis, or (d) on behalf of a minor as father/mother/legal guardian. (ii) a Hindu Undivided Family. (iii) (a) 'Charitable Institution' to mean a Company registered under Section 25 of the Indian Companies Act 1956 ; or (b) An institution which has obtained a Certificate of Registration as a charitable institution in accordance with a law in force; or (c) Any institution which has obtained a certificate from an Income Tax Authority for the purposes of Section 80G of the Income Tax Act, 1961 . (iv) "University" means a university established or incorporated by a Central, State or Prov ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... erve Bank of India. A certificate of holding as specified in form I will be issued to the holder of Bonds in Bonds Ledger Account. Applications 9. (i) Applications for the Bonds may be made in the application format attached or in any other form as near as thereto stating clearly the amount and the full name and address of the applicant. (ii) Applications should be accompanied by the necessary payment in the form of cash/drafts/cheques/online through internet banking as indicated in paragraph 6 above. Receiving Offices 10. Applications for the Bonds in the form of Bonds Ledger Account will be received at: (a) Branches of State Bank of India, Associate Banks, Nationalised Banks, three private sector banks (viz. HDF ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... is a minor, the holder of Bonds may appoint any person to receive the Bonds/amount due in the event of his/her death during the minority of the nominee. Transferability 12. The Bonds in the form of Bonds Ledger Account shall be transferable to nominee(s) on death of holder (only individuals). Interest 13. The Bonds will bear interest at the rate of 1.5% (fixed rate) per annum + inflation rate calculated with respect to final combined Consumer Price Index [(CPI) Base: 2010=100]. Final combined CPI will be used with a lag of three months to calculate incremental inflation rate (i.e. final combined CPI for September would be used as reference CPI for all days of December). Interest will be compounded with half-yearly rests and will ..... X X X X Extracts X X X X X X X X Extracts X X X X
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