SB Order 07/2023 | Revision of maximum limit for investment in National Savings (Monthly Income Account) Scheme, 2019

Subject: Revision of maximum limit for investment in National Savings (Monthly Income Account) Scheme, 2019



Sir/Madam,

    The undersigned is directed to convey the decision of Ministry of Finance (DEA) for
amendment of National Savings (Monthly Income Account) Scheme, 2019 through National Savings (Monthly Income Account) (Amendment) Scheme, 2023 and revision of maximum investment limit for investment in National Savings (Monthly Income Account) Scheme, 2019 from ₹ four lakh fifty thousand to ₹ nine lakh in single account and from ₹ nine lakh to ₹ fifteen lakh in Joint Account. The copy of gazette notification G.S.R.239(E) dated 31.03.2023 issued by MOF(DEA) is enclosed.

2. Accordingly, In the National Savings (Monthly Income Account) Scheme, 2019, in
paragraph 4, in sub-paragraph (2), –

    (a) for the words “rupees four lakh fifty thousand”, the words “nine lakhs” shall be substituted;
    (b) for the words “nine lakhs”, the words “fifteen lakh” shall be substituted.

3. It is requested to circulate it to all concerned for information, guidance and
necessary action. Same may also be placed on the notice board of all Post Offices in
public area.

4. This is issued with the approval of the Competent Authority.

Yours Faithfully

(Devendra Sharma)

Assistant Director (SB-II)