SB Order 07/2023: Post Office Monthly Income Scheme (MIS) Account Maximum Investment Limit is Revised
SB Order No. 07/2023: National Savings (Monthly Income Account) MIS Scheme Maximum Investment Limit is Revised from ₹ four lakh fifty thousand (4.5 Lakh) to ₹ nine lakh (9 Lakh) in single account and from ₹ nine lakh (9 Lakh) to ₹ fifteen lakh (15 Lakh) in Joint Account.
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F. No 113-03/2017-SB(Pt.1)
Department of Posts
(Financial Services Division)
Dated: 31.03.2023
Subject: Revision of maximum limit for investment in National Savings (Monthly Income Account) Scheme, 2019
The undersigned is directed to convey the decision of Ministry of Finance (DEA) for
2. Accordingly, In the National Savings (Monthly Income Account) Scheme, 2019, in paragraph 4, in sub-paragraph (2), –
(a) for the words “rupees four lakh fifty thousand”, the words “nine lakhs” shall be substituted;
(b) for the words “nine lakhs”, the words “fifteen lakh” shall be substituted.
3. It is requested to circulate it to all concerned for information, guidance and necessary action. Same may also be placed on the notice board of all Post Offices in public area.
4. This is issued with the approval of the Competent Authority.
NOTIFICATION
New Delhi, the 31st March, 2023
G.S.R.239(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 to further amend the National Savings (Monthly Income Account) Scheme, 2019, namely:
1.(1) This Scheme may be called the National Savings (Monthly Income Account) (Amendment) Scheme, 2023.
(2) It shall come into force on the date of its publication in the Official Gazette.
2. In the National Savings (Monthly Income Account) Scheme, 2019, in paragraph 4, in sub-paragraph (2), –
(a) for the words “rupees four lakh fifty thousand”, the words “nine lakhs” shall be substituted;
(b) for the words “nine lakhs”, the words “fifteen lakh” shall be substituted.
[F. No. 1/3/2023-NS]
ASHISH VACHHANI, Addl. Secy.
Note : The Principal Scheme was published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i)vide number G. S. R. 917(E), dated the 12th December, 2019 and subsequently amended vide number
G.S.R.286(E) dated the 5th May, 2022, G.S.R. 839(E) dated the 22nd November, 2022 and G.S.R. 55(E) dated the 27th January, 2023.
