## Policy Summary: Coupon Reset of Postal Life Insurance Government of India Special Floating Rate Security, 2022
This notification, issued by the Ministry of Finance, Department of Economic Affairs, Budget Division, pertains to the interest rate on Government of India Postal Life Insurance Special Floating Rate Bonds, 2022. Effective for the financial year 2017-18, these bonds will bear interest at a rate of 7.22% per annum. This rate is determined based on the daily average yield of 10-year Government Securities during the preceding calendar year, specifically from January 1, 2016, to December 31, 2016. Interest payments will be made semi-annually on September 30th and March 30th. The notification was issued under the order of the President of India by Prashant Goyal, Joint Secretary. The document reference is F. No. 44WM2016.
Key Entities Referenced
Ministry of Finance: The ministry responsible for economic affairs, budget, and financial regulations.
Department of Economic Affairs: A department within the Ministry of Finance responsible for economic policy and related matters.
Postal Life Insurance: A life insurance scheme provided through the postal system in India.
Government of India Special Floating Rate Security, 2022: A specific type of government bond with a floating interest rate, maturing in 2022.
Government of India Postal Life Insurance Special Floating Rate Bonds, 2022: Government bonds linked to Postal Life Insurance with floating rate and maturing in 2022
Financial Year 2017-18: The financial year for which the interest rate on the bonds is specified.
Prashant Goyal: The Joint Secretary who issued the notification.
New Delhi: Location of publication - New Delhi, Delhi
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2580 GI/2017 (1)2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART I—SEC. 1]
MINISTRY OF FINANCE
(Department of Economic Affairs)
(Budget Division)
(W&M Section)
NOTIFICATION
New Delhi, the 17 April , 2017
Coupon Re-set of Postal Life Insurance Government of India Special Floating Rate
Security, 2022
F. No.4(4)-W&M/2016.— Government of India Postal Life Insurance Special Floating Rate
Bonds, 2022 will bear interest at the rate of 7.22 per cent per annum for the financial year 2017-18. Interest
rate on these bonds is in line with daily average yield of 10 years Government Securities in the preceding
calendar year i.e. January 01, to December 31, 2016. Interest will be payable half yearly on September 30 and
March 30.
By Order of the President of India,
PRASHANT GOYAL, Jt. Secy.
.
Uploaded by Dte. of Printing at Government of India Press, Ring Road, Mayapuri, New Delhi-110064
and Published by the Controller of Publications, Delhi-110054.