Central Government notifies that the National Rural Development Bonds (Second Issue) specified under sub-clause(b) of clause 2 of section 2 of the Public Debt Act 1944 (18 of 1944) - G.S.R.503(E) - Income Tax

MINISTRY OF FINANCE (Department of Economic Affairs) New Delhi, the 21 st June, 1983 G.S.R. 503(E). - In exercise of the powers conferred by clause (b) of rule 4 of Public Debt Rules, 1946, the Central Government hereby specifies that the following shall be the form of a Government security for the purpose of sub-clause(b) of clause 2 of section 2 of the Public Debt Act 1944 (18 of 1944), namely:- FORM NOT TRANSFERABLE (National Emblem) GOVERNMENT OF INDIA National Rural Development Bonds (Second Issue) No. __________________Rs. _____________________ This is to certify that __________________ is entitled to receive from the President of India a sum of Rs. __________on the expiry of three years from the date of issue of this Bond. Interest at the rate of seven and half per cent per annum will be paid on the aforesaid amount from the date of issue of this Bond to the date on which the same shall become payable as aforesaid, such interest to be paid annually on the completion of each period of twelve calendar months from the date of issue of the Bond and subject to the terms and conditions laid down in the notification of the Government of India in the Ministry of Finance (Department of Economic Affairs), No.GSR 502(E) dated the 21st June 1983. This Bond is non-negotiable and cannot be sold, transferred, assigned or otherwise disposed of by the holder before maturity to any other person. By order of the President of India Public Debt Office, GOVERNOR Reserve Bank of India Reserve Bank of India for Manager Date of issue ----------------- A. RANGACHARI, Joint Secretary (REVERSE) Instructions for Bond-Holders 1. Date of issue of this Bond will be the date of receipt of subscription by cash or the date of realization of cheque or draft as the case may be 2. Production of this Bond will not be necessary for collection of interest on the Bond, which will be remitted to the registered address of the holder by warrants issued by the Public Debt Office of issue. 3. Any change in the registered address of the holder should be notified to the Public' Debt Office of issue furnishing full particulars of Bond as mentioned on the obverse 4. An individual being a sole holder or sole surviving holder of the Bond may nominate a person or persons who shall be entitled to the Bond and the payments thereon on the death of the holder. A nomination made by a holder may be varied by a fresh nomination or may be cancelled. 5. Every nomination and every cancellation or variation thereof shall be registered at the Public Debt Office of issue and shall effective from the date of such registration. The Bond in respect of which nomination is required to be registered shall be tendered along with the prescribed nomination form duly completed by the holder. 6. No fee will be charged for registration of the first nomination. For registering every cancellation or subsequent nomination, registration fee will be charged at the rate of ₹ 1/- per Bond. [No.F.4(3)-W M/83