SITE MAP     CONTACT US     DISCLAIMER  
   About Us     Useful Information     FAQs     Financial Education     Complaints   Other Links   Extra Curricular
Search
Period
From  
To  
Archives
   
Home >> PressReleases - Display
Note : To obtain an aligned printout please download the (50.00 kb ) version to your machine and then use respective software to print the story.
Date: 21/08/2008
Collateral facility extended for Savings Bonds

Savings bonds can now be pledged or hypothecated or kept on lien in favour of scheduled banks. Such facility is available only for the loans to be availed of by the holders of the bonds and not in respect of the loans availed of by third parties. The Government of India has now amended the notifications relating to 7% Savings Bonds, 2002, 6.5% Savings Bonds, 2003 (Non-Taxable), and 8% Savings (Taxable) Bonds, 2003 schemes allowing for pledge or hypothecation or lien of these bonds as collateral for obtaining loans from the scheduled banks in accordance with section 28 of the Government Securities Act, 2006 and regulations 21 and 22 of the Government Securities Regulations, 2007.

All other terms and conditions in respect of these Bonds remain unchanged.

G. Raghuraj
Deputy General Manager

Press Release: 2008-2009/226

 
  © Reserve Bank of India. All Rights Reserved.

Best viewed in 1024x768 resolution in IE 5 and above.