Rule 12 - Encashment on maturity - Kisan Vikas Patra Rules, 1988

Encashment on maturity 12. (1) The maturity period of a certificate of any denomina tion shall be five and half years, commencing on the date of the certificate. The amount inclusive of interest, payable on encashment of a certificate at any time after the expiry of its maturity period shall be Rs. 2,000 for denomination of Rs. 1,000 and at proportionate rate for any other denomination. (2) Where such a certificate has been purchased on or after the 16th day of December, 1991, the amount inclusive of interest, payable on encashment of the certificate at any time after the expiry of its maturity period shall be Rs. 2,100 for a denomina tion of Rs. 1,000 and at proportionate rate for any other denomi nation. (3) Notwithstanding anything contained in sub-rules (1) and (2), the maturity period of a certificate purchased on or after the 24th day of April, 1992 shall be five years commencing on the date of the certificates. The amount inclusive of interest pay able on encashment of the certificate at any time after the expiry of its maturity period shall be Rs. 2,000 for a denomina tion of Rs. 1,000 and at proportionate rate for any other denomi nation. (4) Notwithstanding anything contained in sub-rules (1) to (3), the maturity period of a certificate purchased on or after the 2nd day of September, 1993, shall be five years and six months commencing on the date of the certificate. The amount inclusive of interest, payable on encashment of the certificate at any time after the expiry of its maturity period shall be Rs. 2,000 for a denomi-nation of Rs. 1,000 and at proportionate rate of any other denomination. (5) Notwithstanding anything contained in sub-rules (1) to (4), the maturity period of a certificate purchased on or after the 1st January, 1999 shall be six years commencing on the date of the certificate. The amount inclusive of interest, payable on encashment of the certificate at any time after the expiry of its maturity period shall be Rs. 2,000 for a denomination of Rs. 1,000 and at proportionate rate for any other denomination. (6) Notwithstanding anything contained in sub-rules (1) to (5), the maturity period of a certificate purchased on or after the 15th day of January, 2000 but before the 1st day of March, 2001, shall be six years and six months commencing on the date of issue of the certificate. The amount inclusive of interest, payable on encashment of the certificate at any time after the expiry of its maturity period shall be Rs. 2,000 for a denomination of Rs. 1,000 and at proportionate rate for any other denomination. (7) Notwithstanding anything contained in sub-rules (1) to (6), the maturity period of a certificate purchased on or after the 1st day of March, 2001 but before the 1st day of March, 2002, shall be seven years and three months commencing on the date of issue of the certificate. The amount, inclusive of interest, payable on encashment of the certificate at any time after the expiry of its maturity period shall be Rs. 2,000 for a denomination of Rs. 1,000 and at proportionate rate for any other denomination. (8) Notwithstanding anything contained in sub-rules (1) to (7), the maturity period of a certificate purchased on or after the 1st day of March, 2002 but before the 1st day of March, 2003, shall be seven years and eight months commencing on the date of issue of the certificate. The amount, inclusive of interest, payable on encashment of the certificate at any time after the expiry of its maturity period shall be Rs. 2,000 for a denomination of Rs. 1,000 and at proportionate rate for any other denomination. (9) Notwithstanding anything contained in sub-rules (1) to (8), the maturity period of a certificate purchased on or after the 1st day of March, 2003, shall be eight years and seven months commencing on the date of issue of the certificate. The amount, inclusive of interest, payable on encashment of the certificate at any time after the expiry of its maturity period shall be Rs. 2,000 for a denomination of Rs. 1,000 and at proportionate rate for any other denomination.