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Core Purpose

The Central Government specifies and notifies the issue of 7.70% Government of India NSSF (R) (Non-trans) Special Securities, 2036-37, which are non-transferable, in exercise of powers under clause (f) of Section 2 of the Government Securities Act, 2006 (38 of 2006).

Detailed Summary

The Ministry of Finance (Department of Economic Affairs), through a notification dated June 16, 2026 (F. No. 5/1/2024-NS-Part(1)), exercising powers under clause (f) of Section 2 of the Government Securities Act, 2006 (38 of 2006), specifies and notifies the issue of 7.70% Government of India NSSF (R) (Non-trans) Special Securities, 2036-37. These securities are to be issued in FY 2026-27 in the form of 'Stock,' held in the Subsidiary General Ledger Account maintained by the Public Debt Office, and are explicitly non-transferable. The objective is to issue these securities against amounts received in the National Small Savings Fund (NSSF) from the redemption of special Government of India and State Government securities related to net small savings collection since April 1, 1999. The Secretary, Ministry of Finance, Department of Economic Affairs, on behalf of NSSF, is eligible to subscribe. Securities will be issued at par, for an amount of ₹1,00,000 and its multiples, with the issue date being the credit date to the NSSF's Subsidiary General Ledger Account at the Public Debt Office, Reserve Bank of India, Nagpur. They have a 10-year tenure from the issue date, bearing 7.70% interest per annum, payable half-yearly, rounded to the nearest hundred rupees. Call and put options, as per paragraph 7.5 of Department's F.No.4(2)-W&M/2018 dated March 27, 2018, allow premature redemption at par after two years for both the Government of India (call) and the National Small Savings Fund (put). Repayment at par is scheduled for FY 2036-37 after ten years, subject to these options. Unspecified matters are governed by the Government Securities Act, 2006.

Full Text

REGD. No. D. L.-33004/99 The Gazette of India CG-DL-E-19062026-273651 EXTRAORDINARY PART I-Section 1 PUBLISHED BY AUTHORITY No. 166] NEW DELHI, FRIDAY, JUNE 19, 2026/JYAISTHA 29, 1948 MINISTRY OF FINANCE (Department of Economic Affairs) NOTIFICATION New Delhi, the 16th June, 2026 F. No. 5/1/2024-NS-Part(1).— In exercise of the powers conferred by clause (f) of Section 2 of the Government Securities Act, 2006 (38 of 2006), the Central Government hereby specifies that (i) 7.70% (Seven point seven zero percent) Government of India NSSF (R) (Non-trans) Special Securities, 2036-37 shall be issued in FY 2026-27 in the form of 'Stock' to be held at the credit of the holder in the Subsidiary General Ledger Account maintained by the Public Debt Office; and (ii) These securities shall not be transferable. VYASAN R., Jt. Secy. NOTIFICATION New Delhi, the 16th June, 2026 Issue of 7.70% Government of India NSSF (R) (Non-trans) Special Securities, 2036-37 F. No. 5/1/2024-NS-Part(1).—The Government of India, hereby notifies the issue of 7.70 per cent Government of India NSSF (R) (Non-trans) Special Securities, 2036-37 (hereinafter called "special securities"). 2. Objective: Central Government shall issue the Special Securities notified hereunder against the amount received in the National Small Savings Fund (NSSF) on account of redemption of special Government of India and State Government securities issued against shares of net small savings collection from 1-4-1999. 3. Eligibility for subscribing to special securities: The Secretary, Government of India, Ministry of Finance, Department of Economic Affairs, on behalf of NSSF, shall be eligible to subscribe to special securities. 4. Subscription: Special securities will be issued for an amount of ₹1,00,000 (face value) and in multiples of ₹1,00,000 thereafter. 5. Form of securities: The special securities will be issued in the form of 'Stock' to be held at the credit of the holder in the Subsidiary General Ledger Account maintained with Public Debt Office, Reserve Bank of India, Nagpur. 6. Price, Date and Place of Issue: (i) The special securities will be issued at par. (ii) The date of issue of special securities shall be date of credit of special securities to Subsidiary General Ledger Account of NSSF. (iii) The Special Securities will be issued at Public Debt Office, Reserve Bank of India, Nagpur. 7. Tenure: The tenure of the special securities will be 10 years from the date of issue. 8. Call and put option: i. The Special Securities will have call and put option as specified in paragraph 7.5 of the General Notification, issued vide this Department's F.No.4(2)-W&M/2018, dated 27th March, 2018. ii. The Government of India shall have the discretion to exercise "call option" to prematurely redeem the special securities wholly or partly at par, after two years. In that event, interest on the special securities shall cease to accrue on the redeemed special securities from the date of premature redemption decided by the government. iii. The holder of the Special Securities, i.e. National Small Savings Fund shall have the discretion to exercise "put option", for premature redemption of the special securities, wholly or partly at par, after two years. In that event, interest on the special securities shall cease to accrue on the redeemed special securities from the date of premature redemption. 9. Interest: i. The special securities bear interest at the rate of 7.70% (Seven point seven per cent.) per annum payable on half-yearly basis. Interest on the securities will be payable at the Public Debt Office (i.e. the office of Issue), Reserve Bank of India, Nagpur. ii. Interest will be paid after rounding off to nearest hundred rupees. 10. Repayment: The special securities shall be repaid at par after ten years i.e. in FY 2036-37 on the same day of issue subject to the terms specified under paragraph 8 herein above. 11. Transferability and conversion: The Special Securities shall not be transferable and conversion of the securities to any other form shall not be permitted, until and unless otherwise specified by the Government. 12. Statutory Provisions: With respect to any such matter which has not been provided under this notification, the special securities shall be governed by the Government Securities Act, 2006 (38 of 2006). VYASAN R., Jt. Secy.

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