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Date: 03-Jan-2024 Category: Extra Ordinary State: Union Government Country: India

Special Deposit Scheme fourth quarter interest rate

Issued by Ministry of Finance · Department of Economic Affairs

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Executive Summary & Key Takeaways

What it means

  • This notification announces the interest rate applicable to deposits made under the Special Deposit Scheme for Non-Government Provident, Superannuation and Gratuity Funds.

Key Changes

  • The interest rate for the period January 1, 2024, to March 31, 2024, is set at 7.1% (seven point one percent).
  • This rate is effective from January 1, 2024.
  • The scheme was originally announced in the Ministry of Finance Notification No.F.16(1)-PD/75 dated 30th June, 1975.

Impact Analysis

Impact on Non-Government Provident, Superannuation and Gratuity Funds

  • Fund managers need to adjust their investment strategies and financial projections to reflect this new interest rate.

Impact on Employees/Beneficiaries

  • The actual impact on individual returns will depend on the specific terms and conditions of their respective funds.

Suggested Action Items

  • Review and adjust investment strategies as needed to optimize returns within the framework of the Special Deposit Scheme.

Key Entities Referenced

Ministry of Finance (Department of Economic Affairs): The government body responsible for issuing the notification and overseeing the Special Deposit Scheme. Non-Government Provident, Superannuation and Gratuity Funds: The entities that are eligible to make deposits under the Special Deposit Scheme and are directly affected by the announced interest rate. Special Deposit Scheme for Non-Government Provident, Superannuation and Gratuity Funds: The scheme under which deposits are made and to which the announced interest rate applies. Established via Notification No.F.16(1)-PD/75 dated 30th June, 1975.
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.-03012024-251121 xxxGIDHxxx CG-DL-E-03012024-251121 xxxGIDExxx असाधारण EXTRAORDINARY भाग I—खण्ड 1 PART I—Section 1 प्राजधकार स ेप्रकाजित PUBLISHED BY AUTHORITY स.ं 03] नई ददल्ली, बुधिार, जनिरी 3, 2024/पौि 13, 1945 No. 03] NEW DELHI, WEDNESDAY, JANUARY 3, 2024/PAUSHA 13, 1945 जित्त मत्रं ालय (आर्थथक काय यजिभाग) अजधसचू ना नई ददल्ली, 2 जनिरी, 2024 फा. स.ं 5(3)-बी(पी.डी.)/2023.—एतदद्वारा यह अजधसूजचत दकया जाता ह ै दक जित्त मंत्रालय (आर्थथक कायय जिभाग) की अजधसूचना सं. एफ. 16(1)-पी.डी./75 तारीख 30 जून, 1975 में घोजित गैर-सरकारी भजिष्य, अजधिर्थिता और उपदान जनजधयों के जलए जििेि जमा योजना के अंतगयत जमा करायी गई राजियों पर 1 जनिरी, 2024 से 31 माच,य 2024 तक 7.1% (सात दिमलि एक प्रजतित) ब्याज लगेगा। यह दर 1 जनिरी, 2024 से लागू होगी। आिीि िच्छानी, अपर सजचि MINISTRY OF FINANCE (Department of Economic Affairs) NOTIFICATION New Delhi, the 2nd January, 2024 F. No. 5(3)-B(PD)/2023.—It is hereby notified that the deposits made under the Special Deposit Scheme for Non-Government Provident, Superannuation and Gratuity Funds, announced in the Ministry of Finance (Department of Economic Affairs) Notification No.F.16(1)-PD/75 dated 30th June, 1975, shall with effect from 1st January, 2024 to 31st March, 2024 bear interest at 7.1% (seven point one percent). This rate will be in force w.e.f. 1st January, 2024. ASHISH VACHHANI, Addl. Secy. 98 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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