Rule 23 - Conversion from one denomination to another - National Savings Certificates (VIII Issue) Rules, 1989

Conversion from one denomination to another. 23. (1) Certificates of lower denomination may be exchanged for a certificate or certificates of higher denominations of the same aggregate face value or a certificate of higher denomination may be exchanged for the certificates of lower denomination of the same aggregate face value : Provided that certificates bearing different dates shall not be combined for being exchanged for certificate or certificates of higher denomination. (2) The date of the certificate or certificates issued in exchange shall be the same as that of the original certificate or certificates surrendered and not the date on which the exchange is made.