PPF & SR. CITIZEN SAVINGS SCHEMS RATES WOULD BE REVISED WITH EFFECT FROM 1.04.2014

RBI has released a Notification on interest rates on two popular Tax saving schemes wef 01.04.2014. These schemes are Public Provident Fund Scheme 1968 and Senior Citizens Saving Scheme 2004.PPF is most popular tax saving scheme among small investor as interest from PPF account is exempted from income tax.SCSS scheme is useful for sr citizens either having income less than exemption limit or falling under first slab of income tax  rates.

Notification of interest Rates on these schemes is given below.

PUBLIC PROVIDENT FUND SCHEME, 1968 (PPF SCHEME, 1968) AND SENIOR CITIZENS SAVINGS SCHEME, 2004 (SCSS, 2004) - REVISION OF INTEREST RATES

CIRCULAR DGBA.CDD. NO. 5342 /15.02.001/2013-14, DATED 21-3-2014

Please refer to our circular RBI/2011-12/359 dated January 20, 2012 regarding interest rates on small savings schemes, wherein it was indicated that as per Government's decision on revision of interest on small savings schemes, the interest rates on various small savings schemes for every financial year will be notified by the Government before April 1st of that year.

The Government of India has now vide their Office Memorandum (OM) No. 6-1/2011-NS.II dated 4thMarch 2014, advised the rate of interest on various small savings schemes for the financial year 2014-15. Accordingly, the rates of interest on PPF, 1968 and SCSS, 2004 for the financial year 2014-15, effective from April 01, 2014, on the basis of the interest compounding/payment built-in in the schemes, will be as under:

Scheme	Rate of Interest w.e.f. 01.04.2013	Rate of Interest w.e.f. 01.04.2014
5 Year SCSS, 2004	9.2% p.a.	9.2% p.a.
PPF, 1968	8.7% p.a.	8.7% p.a.

The contents of this circular may be brought to the notice of the branches of your bank operating the PPF, 1968 and SCSS, 2004 schemes. These should also be displayed on the notice boards of your branches for information of the PPF, 1968 & SCSS, 2004 subscribers.

Interest Rate chart for all Popular schemes wef 01.04.2014 is given below

Scheme	Rate of interest w.e.f.01.04.2013	Rate of Interest w.e.f. 01.04.2014
1.	2.	3.
Savings Deposit	4.0	4.0
1 Year Time Deposit	8.2	8.4
2 Year Time Deposit	8.2	8.4
3 Year Time Deposit	8.3	8.4
5 Year Time Deposit	8.4	8.5
5 Year Recurring Deposit	8.3	8.4
5 Year SCSS	9.2	9.2
5 Year MIS	8.4	8.4
5 Year NSC	8.5	8.5
10 Year NSC	8.8	8.8
PPF	8.7	8.7

PHOTOGRAPHS OF THE FELICITATION CEREMONY OF ICA

Photographs of the felicitation ceremony organized on 3rd march 2014 in honour of the CS students cleared in December 2013 exams

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NEW BATCH OF CS EXECUTIVE AND PROFESSIONAL

CONGRATULATIONS TO STUDENTS ON THEIR SUCCESS

INSTITUTE FOR CORPORATE ACHIEVERS announces its FELICITATION FUNCTION to honour its shining stars on 3rd march, 2014 at the venue: RAI UMA NATH BALI auditorium, kaiserbagh, Lucknow.
Students of ICA present and past who want to participate in the function or give any presentation(singing/dancing or any activity) can come forward and inform us about it before 28th february.
For details contact :
3rd floor Chitrahar Building(opposite prince complex), naval kishore road, hazratganj, Lucknow
Contact number: - 0522-4011081; 8176882499
WE COULD NOT POST PHOTOS OF
RIYA ANAND,
GEETIKA ARORA,
VISHAL AHUJA,
SANA FATIMA,
UTKARSH SRIVASTAVA,
ANAND SHARMA,
SHEFALI,
SHIVANK TIWARI,
SASWAT AGARWAL. kindly submit your photographs as soon as possible or you can send them through mails on the e-mail id : divya.nigam246@gmail.com

BEST OF LUCK FOR RESULTS

RESULT OF COMPANY SECRETARIES EXAMINATIONS DECEMBER, 2013

The result of Professional Programme, Executive Programme (Old Syllabus), Executive Programme (New Syllabus) and OMR based Foundation Programme Examinations held in December, 2013 will be declared on Tuesday, the 25th February, 2014 as per the following schedules:

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RESERVE BANK OF INDIA (RBI) HAS ANNOUNCED THE DECISION TO WITHDRAW FROM CIRCULATION ALL CURRENCY NOTES PRINTED PRIOR TO 2005

NEW DELHI, FEB 22, 2014: THE Reserve Bank of India (RBI) has announced the decision to withdraw from circulation all currency notes printed prior to 2005. It is a standard international practice to withdraw old series of banknotes from time to time. The reason for withdrawal of banknotes printed prior to 2005 is to remove them from the market as they have fewer security features compared to banknotes printed after 2005. 
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