TMI BlogINFLATION INDEXED NATIONAL SAVINGS SECURITIES - CUMULATIVE, 2013X X X X Extracts X X X X X X X X Extracts X X X X ..... al, not being a Non-Resident Indian (a) in his or her individual capacity, or (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 (HUF) (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 Income Tax Authority for the purposes of Section 80G of the Income Tax A ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... count called Bonds Ledger Account (BLA). (ii) The Bonds will be issued in the form of Bonds Ledger Account and held with Reserve Bank of India. A certificate of holding as specified in 'Form I' (attached) 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. Note:- The authorised banks are responsible to ensure compliance with the applicable KYC no ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... elled by giving notice in writing to the Receiving Office in the Form annexed to the notification. (v) Every nomination and every cancellation or variation shall be registered at the Reserve Bank of India through the authorised bank and shall be effective from the date of such registration. (vi) If the nominee 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 individual/s). Interest 13. The Bonds will bear interest at the rate of 1.5% (fixed rate) per annum + inflation rate calculated with respect t ..... X X X X Extracts X X X X X X X X Extracts X X X X
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