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Date: 13-Jun-2024 Category: Extra Ordinary State: Union Government Country: India

Interest Rate on Sr Citizens Welfare Fund

Issued by Ministry of Finance · Department of Economic Affairs

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Executive Summary & Key Takeaways

What it means

  • The notification announces the interest rate applicable to deposits made under the Senior Citizens Welfare Fund.
  • The interest rate is applicable for the period from April 1, 2023, to March 31, 2024.

Key Changes

  • The interest rate for deposits made under the Senior Citizens Welfare Fund is set at 7.15% per annum for the period April 1, 2023, to March 31, 2024.
  • This rate is effective from April 1, 2023.

Impact Analysis

Senior Citizens

  • This provides clarity on the returns they can expect from their investments in the fund.

Ministry of Finance

  • This notification ensures transparency and provides clear guidelines for the interest rates applicable to the fund.

Government

  • Action Item: Ensure timely disbursement of interest to eligible senior citizens.

Key Entities Referenced

Ministry of Finance (Department of Economic Affairs): The government body responsible for announcing the interest rate for the Senior Citizens Welfare Fund. Senior Citizens Welfare Fund: A fund established for the welfare of senior citizens, under which deposits are made and accrue interest. Notification No. G.S.R. 322(E) dated 18th March, 2016: The original notification that established the Senior Citizens Welfare Fund.
Official Source Record View Original Source →
See Full Document Text
रजजस्ट्री स.ं डी.एल.- 33004/99 REGD. No. D. L.-33004/99 सी.जी.-डी.एल.-अ.-13062024-254681 xxxGIDHxxx CG-DL-E-13062024-254681 xxxGIDExxx असाधारण EXTRAORDINARY भाग I—खण्ड 1 PART I—Section 1 प्राजधकार स ेप्रकाजित PUBLISHED BY AUTHORITY स.ं 157] नई ददल्ली, बृहस्ट्पजतिार, जनू 13, 2024/ज्य ष्े ठ 23, 1946 No. 157] NEW DELHI, THURSDAY, JUNE 13, 2024/JYAISHTHA 23, 1946 जित्त मत्रं ालय (आर्थथक काय यजिभाग) अजधसचू ना नई ददल्ली, 10 जून, 2024 फा. स.ं 13/20/2014-एन.एस.—एतदद्वारा यह अजधसूजचत दकया जाता ह ैदक िररष्ठ नागररक कल्याण कोष के तहत की गई जमा पर, जित्त मंत्रालय (आर्थथक कायय जिभाग) अजधसूचना संख्या जी.एस.आर. 322(अ) ददनाकं 18 माचय, 2016 में घोजषत, 1 अप्रैल, 2023 से 31 माचय, 2024 तक की अिजध के जलए 7.15 प्रजतित (सात दिमलि एक पााँच प्रजतित) ब्याज दर प्रभािी होगी। यह दर 1 अप्रैल, 2023 से प्रभािी होगी। आिीष िच्छानी, अपर सजचि MINISTRY OF FINANCE (Department of Economic Affairs) NOTIFICATION New Delhi, the 10th June, 2024 F. No. 13/20/2014-NS.—It is hereby notified that the deposits made under the Senior Citizens Welfare Fund, announced in the Ministry of Finance (Department of Economic Affairs) Notification No. G.S.R. 322(E) dated 18th March, 2016, shall with effect from 1st April, 2023 to 31st March, 2024, bear interest at 7.15% (Seven point one five percent). This rate will be in force with effect from 1st April, 2023. ASHISH VACHHANI, Addl. Secy. 3508 GI/2024 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.

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