Government amends notifications relating to savings bonds

New Delhi, Aug 19 (UNI) The Government today amended the notifications relating to seven per cent Savings Bonds, 2002, 6.5 per cent Savings (Non-Taxable) Bonds, 2003, and eight per cent Savings (Taxable) Bonds, 2003 Schemes, to allow for pledge/lien/hypothecation of the said Bonds as collateral for obtaining loans from Scheduled Banks.

Accordingly, the holders of the said Bonds will be entitled to create pledge or hypothecation or lien in favour of scheduled banks in accordance with section 28 of the Government Securities Act, 2006 and regulations 21 and 22 of the Government Securities Regulations, 2007, an official release issued here said.

All other terms and conditions in respect of the said Bonds continue without change, it added.

UNI AK SR BD2130