**Executive Summary**
This notification, issued by the Ministry of Finance on June 16, 2026, announces the issuance of 7.70% Government of India NSSF (C) (Non-trans) Special Securities, 2036-37. These securities are issued against funds received from the National Small Savings Fund (NSSF) during the 2026-27 financial year. Key provisions include a 10-year tenure, non-transferability, and repayment via ten equal annual installments starting one year after the date of issue.
**Key Points / Main Content**
**Issuance and Subscription**
* **Security Type:** Issued as "Stock" under the Subsidiary General Ledger (SGL) Account.
* **Purpose:** Issued against amounts received by the Government from the National Small Savings Fund (NSSF).
* **Subscription Minimums:** Issued for a face value of ₹1,00,000 and in multiples of ₹1,00,000 thereafter.
* **Eligibility:** The Secretary, Department of Economic Affairs, Ministry of Finance, is eligible to subscribe on behalf of NSSF investments.
**Financial Terms**
* **Interest Rate:** Fixed at 7.70% per annum, payable on a half-yearly basis from the date of issue.
* **Rounding:** Interest payments will be rounded off to the nearest hundred rupees.
* **Issuance Price:** The special securities will be issued at par.
**Tenure and Redemption**
* **Tenure:** 10 years from the date of issuance.
* **Repayment Schedule:** The Government will exercise a "call option" to redeem the securities in ten equal installments starting the year following the issue date.
* **Location:** Managed by the Public Debt Office (PDO), Reserve Bank of India, Nagpur.
**Restrictions and Governance**
* **Non-Transferability:** The securities are strictly non-transferable.
* **Conversion:** Conversion into any other form is prohibited unless specifically authorized by the Government.
* **Statutory Authority:** Governed by the Government Securities Act, 2006.
**Impact Analysis**
**Secretary, Department of Economic Affairs (Ministry of Finance)**
**Impact**
Acts as the primary subscriber to these securities on behalf of the National Small Savings Fund.
**Action Required**
Must subscribe to the special securities for the amounts invested by the NSSF as specified by the Central Government.
**Public Debt Office (PDO), Reserve Bank of India, Nagpur**
**Impact**
Designated as the office of issue and the entity responsible for maintaining the Subsidiary General Ledger Account for these securities.
**Action Required**
Maintain the credit of the holder in the SGL, process half-yearly interest payments, and manage the ten-installment redemption process.
**National Small Savings Fund (NSSF)**
**Impact**
The fund’s receipts are institutionalized into government "Stock" with a fixed 7.70% return to manage the Public Account of India.
**Action Required**
Ensure the transfer of funds to the Central Government for the issuance of these special securities as per the notification.
Key Entities Referenced
7.70% Government of India NSSF (C) (Non-trans) Special Securities, 2036-37: The specific non-transferable government securities issued in the form of stock as part of the 2026-27 fiscal cycle.
National Small Savings Fund (NSSF): The fund in the Public Account of India against which the special securities are issued to manage amounts received by the government.
Government Securities Act, 2006: The primary legislation under which the Central Government exercises powers to specify and regulate the issuance of these securities.
Department of Economic Affairs: The division within the Ministry of Finance responsible for issuing the notification and subscribing to the special securities.
Public Debt Office, Reserve Bank of India, Nagpur: The specific regulatory office responsible for maintaining the Subsidiary General Ledger Account and issuing the special securities.
रजिस्ट्री स.ं डी.एल.- 33004/99 REGD. No. D. L.-33004/99
सी.जी.-डी.एल.-अ.-19062026-273647
xxxGIDHxxx
CG-DL-E-19062026-273647
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असाधारण
EXTRAORDINARY
भाग I—खण्ड 1
PART I—Section 1
प्राजधकार स ेप्रकाजित
PUBLISHED BY AUTHORITY
स.ं 165] नई दिल्ली, िुक्रिार, िनू 19, 2026/ज्य ष्े ठ 29, 1948
No. 165] NEW DELHI, FRIDAY, JUNE 19, 2026/JYAISTHA 29, 1948
जित्त मत्रं ालय
(आर्थकि काय ि जिभाग)
अजधसचू ना
नई दिल्ली, 16 िून, 2026
फा. स.ं 5/1/2024-एनएस-भाग(1).— केंद्रीय सरकार, सरकारी प्रजतभूजत अजधजनयम, 2006 (2006 का 38) की
धारा 2 के खंड (च) द्वारा प्रित् त िजियों का प्रयोग करत े हुए एतद्द्वारा यह जिजनर्ििष् ट करती ह ैदक
(i) 7.70% (सात ििमलि सात िन्ू य प्रजतित) भारत सरकार एनएसएसएफ (सी) (राष्र ीय लघ ु बचत जनजध)
(अहस्ट्त ातं रणीय) जििेष प्रजतभजू त, 2036-37 लोक ॠण कायािलय द्वारा जित्त िष ि 2026-27 म ें रख े गए अनुषगं ी
सामान्य बही खाते म ें धारक के नाम स े रख े िाने िाल े ‘स्ट् टॉक’ के रूप म ें िारी की िाएगी; और
(ii) य ेप्रजतभूजतयां हस्ट्त ातं रणीय नहीं होंगी।
व्यासन आर., संयुक् त सजचि
4515 GI/2026 (1)2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART I—SEC.1]
MINISTRY OF FINANCE
(Department of Economic Affairs)
NOTIFICATION
New Delhi, the 16th June, 2026
F. No. 5/1/2024-NS-Part(1).—In exercise of the powers conferred by clause (f) of Section 2 of the Government
Securities Act, 2006 (38 of 2006), the Central Government hereby specifies that
(i) 7.70% (Seven-point seven zero percent) Government of India NSSF (C) (Non-trans) Special Securities, 2036-37
shall be issued in FY 2026-27 in the form of 'Stock' to be held at the credit of the holder in the Subsidiary General
Ledger Account maintained by the Public Debt Office; and
(ii) These securities shall not be transferable.
VYASAN R., Jt. Secy.
अजधसचू ना
नई दिल्ली, 16 िून, 2026
7.70% भारत सरकार (राष्र ीय लघ ुबचत जनजध) (सी) (अहस्ट्त ातं रणीय) जििषे प्रजतभजू त,
2036-37 का जनगमि
फा. स.ं 5/1/2024-एनएस-भाग(1).— भारत सरकार, एतद्द्वारा 7.70 प्रजतित भारत सरकार राष्र ीय लघ ु बचत
जनजध (सी) (अहस्ट् तातं रणीय) जििेष प्रजतभूजतयां, 2036-37 (इसम ें इसके पश्चात इस े“जििषे प्रजतभूजत” कहा गया ह)ै का
जनगिम अजधसूजचत करती ह।ै
2. उद्देश्य:
भारत के लोक लेखे म ें"राष्ट्रीय लघ ु बचत जनजध" (एनएसएसएफ) नामक नई जनजध के सृिन के पररणामस्ट्िरूप समय-समय
पर सरकार द्वारा राष्ट्रीय लघु बचत जनजध स े प्राप्त राजि के जलए केंद्रीय सरकार इसके अतं गति अजधसूजचत जििेष प्रजतभूजतया ं
िारी करेगी।
3. जििषे प्रजतभजू तयों म ेंअजभिान के जलए पात्रता:
सजचि, भारत सरकार, जित् त मंत्रालय, आर्थिक काय ि जिभाग, समय-समय पर केंद्रीय सरकार द्वारा यथाजिजनर्ििष्ट
एनएसएसएफ द्वारा जनिेि की राजि के जलए जििेष प्रजतभूजतयों म ें अजभिान करन े के जलए पात्र होंगे।
4. अजभिान:
जििेष प्रजतभूजतयां ₹1,00,000 (अंदकत मल्ू य) की राजि के जलए और इसके बाि ₹1,00,000 के गुणकों म ें िारी की
िाएंगी।
5. प्रजतभजू तयों का स्ट्िरूप:
जििेष प्रजतभूजतयां, लोक ॠण कायािलय, भारतीय ररििि बैंक, नागपरु म ें रखे गए अनषु ंगी सामान्य बही खाते म ें धारक के
नाम रखे िान े िाल े ‘स्ट् टॉक’ के रूप म ेंिारी की िाएगं ी।[भाग I—खण् ड 1] भारत का रािपत्र : असाधारण 3
6. जनगमि का मल्ू य , तारीख और स्ट्थ ान:
(i) जििेष प्रजतभूजतयां सममल्ू य पर िारी की िाएंगी।
(ii) जििेष प्रजतभूजतयां िारी करने की तारीख भारत सरकार के सहायक सामान्य बही खाते म ेंजििेष प्रजतभूजतयों के िमा
होने की तारीख होगी।
(iii) जििेष प्रजतभूजतयां, लोक ॠण कायािलय, भारतीय ररििि बैंक, नागपरु म ेंिारी की िाएगं ी।
7. अिजध:
जििेष प्रजतभूजतयों की अिजध जनगिम की तारीख स े10 िष ि होगी।
8. ब्य ाि
(i) जििेष प्रजतभूजतयों पर 7.70% (सात ििमलि सात िून्य प्रजतित) प्रजत िष ि ब् याि लगेगा िो जििेष प्रजतभूजतयों के
जनगिम की तारीख स े िरूु करके अधि-िार्षिक आधार पर िये होगा। प्रजतभूजतयों पर ब् याि लोक ऋण कायािलय (अथाित
जनगिम कायािलय), भारतीय ररििि बैंक, नागपुर म ेंिये होगा।
(ii) ब् याि जनकटतम सौ रुपए के पणू ाांकन के बाि संिेय होगा।
9. चकु ौती:
भारत सरकार जििेष प्रजतभूजतयों की चुकौती जनगिम की तारीख के अगले िषि स ेप्रारंभ करके िस बराबर दकस्ट्तों म ेंकरने हते ु
‘कॉल ऑप्िन’ का प्रयोग करेगी।
10. हस्ट्तातं रणीयता और सपं ररितनि
जििेष प्रजतभूजतयां हस्ट्तांतरणीय नहीं होंगी और िब तक सरकार द्वारा अन्यथा जिजनर्ििष् ट न दकया िाए, तब तक दकसी अन् य
रूप म ेंइनके संपररितिन की अनमु जत नहीं होगी।
11. साजं िजधक उपबधं :
ऐसे दकसी मामले के संबंध में, जिसका इस अजधसूचना म ें उल्लखे नहीं दकया गया ह,ै जििेष प्रजतभूजतयां,सरकारी प्रजतभूजत
अजधजनयम, 2006 (2006 का 38) द्वारा अजभिाजसत होंगी।
व्यासन आर., संयुक् त सजचि4 THE GAZETTE OF INDIA : EXTRAORDINARY [PART I—SEC.1]
NOTIFICATION
New Delhi, the 16th June, 2026
Issue of 7.70% Government of India NSSF (C) (Non-trans) Special Securities, 2036-37
F. No. 5/1/2024-NS-Part(1).—The Government of India, hereby notifies the issue of 7.70 per cent Government
of India NSSF (C) (Non-trans) Special Securities, 2036-37 (hereinafter called “special securities").
2. Objective:
Consequent upon the creation of a new fund in the Public Account of India called the "National Small Savings Fund"
(NSSF), the Central Government shall issue the Special Securities notified hereunder against the amounts received by
the Government from NSSF from time to time.
3. Eligibility for subscribing to special securities:
The Secretary, Government of India, Ministry of Finance, Department of Economic Affairs, shall be eligible to subscribe
to special securities for the amounts invested by NSSF as specified by the Central Government from time to time.
4. Subscription:
Special securities will be issued for an amount of ₹1,00,000 (face value) and in multiples of ₹1,00,000 thereafter.
5. Form of securities:
The special securities will be issued in the form of 'Stock' to be held at the credit of the holder in the Subsidiary General
Ledger Account maintained with Public Debt Office, Reserve Bank of India, Nagpur.
6. Price, Date and Place of Issue:
(i) The special securities will be issued at par.
(ii) The date of issue of special securities shall be date of credit of special securities to Subsidiary General Ledger
Account of NSSF.
(iii) The Special Securities will be issued at Public Debt Office, Reserve Bank of India, Nagpur.
7. Tenure:
The tenure of the special securities will be 10 years from the date of issue.
8. Interest:
(i) The special securities shall bear the interest at the rate of 7.70% (Seven point seven per cent.) per annum which
will be payable at half yearly basis reckoned from the date of issue of the special securities. Interest on the
securities will be payable at the Public Debt Office (i.e. the office of Issue), Reserve Bank of India, Nagpur.
(ii) Interest will be paid after rounding off to nearest hundred rupees.
9. Repayment:
The Government of India shall exercise the ‘call option’ to redeem the special securities in ten equal instalments starting
from the next year from the date of the issue
10. Transferability and conversion:
The Special Securities shall not be transferable and conversion of the securities to any other form shall not be permitted,
until and unless otherwise specified by the Government.
11. Statutory Provisions:
With respect to any such matter which has not been provided under this notification, the special securities shall be
governed by the Government Securities Act, 2006 (38 of 2006).
VYASAN R., 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.