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Core Purpose

Notification fixing the interest rate on deposits under the Special Deposit Scheme for Non-Government Provident, Superannuation and Gratuity Funds at 7.1% for the quarter 1 October 2023 to 31 December 2023.

Detailed Summary

The Ministry of Finance (Department of Economic Affairs) issued Notification F. No. 5(3)-B(PD)/2023 dated 4th October, 2023, stating that deposits made under the Special Deposit Scheme for Non-Government Provident, Superannuation and Gratuity Funds — originally announced via Notification No. F.16(1)-PD/75 dated 30th June, 1975 — shall bear interest at 7.1% (seven point one percent) for the period from 1st October, 2023 to 31st December, 2023, with the rate in force with effect from 1st October, 2023. The notification is signed by Ashish Vachhani, Additional Secretary.

Full Text

No. 264] NEW DELHI, WEDNESDAY, OCTOBER 4, 2023/ASVINA 12, 1945 EXTRAORDINARY PART I—Section 1 PUBLISHED BY AUTHORITY MINISTRY OF FINANCE (Department of Economic Affairs) NOTIFICATION New Delhi, the 4th October, 2023 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 October, 2023 to 31st December, 2023 bear interest at 7.1% (seven point one percent). This rate will be in force w.e.f. 1st October, 2023. ASHISH VACHHANI, Addl. Secy.

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