Union of India - Act
The Kisan Vikas Patra Rules, 2014
UNION OF INDIA
India
India
The Kisan Vikas Patra Rules, 2014
Rule THE-KISAN-VIKAS-PATRA-RULES-2014 of 2014
- Published on 23 September 2014
- Commenced on 23 September 2014
- [This is the version of this document from 23 September 2014.]
- [Note: The original publication document is not available and this content could not be verified.]
1. Short title and commencement.
2. Definitions.
- In these rules, unless the context otherwise requires, -[`(a) "Aadhaar number" means an identification number as defined in clause (a) of section 2 of the Aadhaar (Targeted Delivery of Financial and Other Subsidies, Benefits and Services) Act, 2016 (18 of 2016); [Substituted by Notification No. G.S.R. 1241(E), dated 29.9.2017 (w.e.f. 23.9.2014)]3. Application of Post Office Savings Certificate Rules, 1960.
- The provisions of the Post Office Savings Certificate Rules, 1960 shall, so far as may be, apply in relation to matters for which no provision has been made in these rules.4. Denomination of Certificates.
- The Kisan Vikas Patra shall be issued in denominations of Rs. 1,000/-, Rs. 5,000/-, Rs. 10,000/- and Rs. 50,000/-.5. Purchase of Certificate.
- Any number of Certificates of the denominations specified in rule 4 may be purchased.6. Type of Certificates and issue thereof.
6A. [ Identification of Account holders. [Inserted by Notification No. G.S.R. 1241(E), dated 29.9.2017 (w.e.f. 23.9.2014)]
- The Aadhaar number shall be the unique identifier for the purpose of establishing the identity of an account holder:Provided that where Aadhaar number has not been assigned, the depositor shall submit proof of application of enrolment for Aadhaar:Provided further that every depositor under this rule who has not given his Aadhaar number at the time of application for such deposit shall submit his Aadhaar number to the Post Office Savings Bank or Bank concerned, on or before the 31st day of December, 2017.]7. Procedure for purchase of Certificate.
8. Issue of Certificates.
9. Transfer from Post Office to Bank and vice-versa.
10. Transfer of Certificate from one person to another.
| Cases in which transfer can be sanctioned | Designation of the Officer competent to grantpermission for transfer |
| (1) | (2) |
| (a)(i) From the name of a deceased holder to hisheir. | Post Master of the Post Office or Bank Officerof the branch, where the Certificates stands registered. |
| (ii) From a holder to a court of law or to anyother person under the orders of court law. | -do- |
| (iii) From a single holder to the names of jointholders of whom the transferee shall be one. | -do- |
| (iv) From Joint holders to the name of one ofthe joint holders. | -do- |
| (b) From Single or joint holders to anotherperson. | -do- |
11. Pledging of Certificates.
12. Nomination.
13. Post maturity interest.
- Where repayment of the amount, inclusive of interest, under the rule 16 has become due but has not been made, interest shall be allowed on the amount due on the date of repayment of the amount subject to the following conditions, namely:-14. Replacement of lost or destroyed Certificate.
15. Place of encashment.
- A Certificate shall be encashable at the Post Office or Bank of its issue:Provided that a Certificate may be encashed at any other Post Office or Bank if the Officer-in-Charge of that Post Office or Bank is satisfied on verification from the Post Office or Bank of issue that the person presenting the Certificate for encashment is entitled thereto.16. Encashment on maturity.
17. Premature encashment.
| Period from the date of the certificate to thedate of its encashment | Amount payable inclusive of interest (Rupees) |
| (1) | (2) |
| Two and half years but less than three years | 1173 |
| Three years but less than three and half years | 1211 |
| Three and half years but less than four years | 1251 |
| Four years but less than four and half years | 1291 |
| Four and half years but less than five years | 1333 |
| Five years but less than five and half years | 1377 |
| Five and half years but less than six years | 1421 |
| Six years but less than six and half years | 1467 |
| Six and half years but less than seven years | 1515 |
| Seven years but less than seven and half years | 1564 |
| Seven and half years but less than eight years | 1615 |
| Eight years but less than eight and half years | 1667 |
| Eight and half years but less than nine years | 1722 |
| Nine years but before the maturity of Certificate | 1778 |
| On maturity of certificate | 2000 |
| Period from the date of the certificate to thedate of its encashment | Amount payable inclusive of interest (Rupees) |
| (1) | (2) |
| Two and half years but less than three years | 1173 |
| Three years but less than three and half years | 1211 |
| Three and half years but less than four years | 1251 |
| Four years but less than four and half years | 1291 |
| Four and half years but less than five years | 1333 |
| Five years but less than five and half years | 1377 |
| Five and half years but less than six years | 1421 |
| Six years but less than six and half years | 1467 |
| Six and half years but less than seven years | 1515 |
| Seven years but less than seven and half years | 1564 |
| Seven and half years but less than eight years | 1615 |
| Eight years but less than eight and half years | 1667 |
| Eight and half years but less than nine years | 1722 |
| Nine years but before the maturity of Certificate | 1778 |
| On maturity of certificate | 2000] |
18. Discharge of Certificate.
19. Rectification of mistakes.
- The Post Master General of a Postal Circle or the Regional or Zonal Manager of the Bank, in their respective jurisdictions, may either suo-motu or upon an application by any person interested in any Certificate issued in pursuance of these rules, rectify any clerical or arithmetical mistakes with respect to that Certificate, provided that it does not involve any financial loss to the Government or to any such person.20. Power to relax.
- Where the Central Government is satisfied that the operation of any of the provisions of these rules causes undue hardship to the holder or holders of a Certificate, it may, by order, for reasons to be recorded in writing, relax the requirements of that provision in a manner not inconsistent with the provisions of the Act.Form A[See rule 7(1)]Form of Application For Purchase of Kisan Vikas PatraSerial No..............................Post Office/Bank..........................ToThe Post Master/Branch Manager,.................................I/We hereby tenderRs.......(Rupees..................only) in cash or by cheque/demand draft No............ dated.................. drawn on bank .................. for the purchase of Kisan Vikas Patra of the type Single/Joint A/Joint B2. I nominate the person(s) named below who shall, on my death, receive payment.
| Sr. No | Name of Nominee | Full Address | Date of Birth of minor Nominee |
| 1 | |||
| 2 | |||
| 3 |
3. I/We hereby agree to abide by the Kisan Vikas Patra Rules, 2014.
4. I/We hereby submit copies of following documents relating to my identification and proof of residenace.
a)..................................b)..................................c)..................................d)..................................5. The Certificate(s) may be made over to we/our agent Authority No ............................
Signature and address ofWitness of nomination.................................Signature/thumb impression of investorDate...........................................Address............................................................................................................................................................................................................................Received the Certificate(s)Delete whichever is not applicableSignature of investor/authorized agentDate............................................................................................To Be Completed By The Post Office/Bank| Serial Nos. of Certificate | Issue PriceRs............ | Date of encashment | Initials of the Post Master/Bank Official | Remarks like transfer, issue of duplicate etc. withinitials |
| Total |
1. Know Your Customer (KYC) documents as mentioned at Sr. No. 4 above have been received.
Date:Signature of Post MasterRound date stamp of the Post Master/Signature and designation and stamp of Bank OfficerForm B[See rule 9(1), 10(2)(c)]Form of Application for Transfer of Certificate from Post Office to a Bank and Vice-versaTo,The Post Master/Branch Manager,............................................................................................................Sir,I/We am/are a holder(s) of Kisan Vikas Patra issued by .......................... Post Office/Bank as per the details given below:-1. Serial No.....................................
2. Date of Purchase .............................
3. Denomination...................................
4. Registration No.................................
5. Serial No.......................................
6. Name of the Certificate holder ......................
I/We request you to please transfer this Certificate(s) to your Post Office/ Bank at the earliest. Photo copies of the above mentioned Certificate(s) is/are enclosed with this application.I/We submit following documents as per the applicable Know Your Customer (KYC) norms.1. Identity proof
2. Residence proof
3. Copy of PAN card (if the amount is more than Rs. 50,000/-)
Specimen Signature of the Certificate holder1. ...............................................
2. ...............................................
3. ...............................................
Yours faithfully,Name ............................Address............................................................................................................Form C[See rule 12(1)]Form of Application for Nomination(This form will be filled in by the holder(s) and submitted with the Certificates to the Post Master/Bank Official of the office where the Certificates stand registered).To,The Post Master/Branch Manager,....................................................................................................Under provisions of rule 12 of the Kisan Vikas Patra Rules, 2014.I/We ......................... the holder(s) of Kisan Vikas Patra Certificates detailed below, hereby nominate the persons mentioned below, who shall on my/our death, become entitled to the Certificate(s) and to be paid the sum thereon to the exclusion of all other persons. I/We hereby declare that I/We have not so far made any nomination in respect of these Certificates.| Sr. No. | Name of the nominee(s) | Full address | Date of birth of nominee in case of minor |
2. As the nominee(s) at the serial number (s) ..................... above is/are minor(s), I/We appoint Shri/Smt/ Kumari..................................... (name and full address) as the person to receive the sum due thereto in the event of my/our death during the minority of the nominee(s).
3. The Certificates detailed below are enclosed.
| Sl. No. of Certificate | Denomination | Date of birth | Office of Issue |
1. Name ............................. Address.........................
2. Name ............................. Address.........................
Note : In the case of illiterate holders, the witnesses shall be persons whose signature is known to the Post Office/ Bank.Date stamp of Post Office/Bank sealOrder of the Post Master/Bank Officer accepting the nominationSignature of Post Master/Bank OfficerForm D[See rule 12(3)]Form of application for cancellation or variation of nomination(This form shall be filled in by the holder(s) and submitted with the Certificates to the Post Master/Bank Officer of the office where the Certificates stand registered)To,The Post Master/Branch Manager,........................................................................I/We .....................................................the holder(s) of Kisan Vikas Patra detailed below hereby cancel the nomination previously made by me/us in respect of these Certificates and registered in your office under No...................................... Dated..............*In place of the cancelled nomination. I/We hereby nominate the person/s mentioned below, who shall on my/our death, become entitled to the savings Certificates and be paid the sum due thereof to the exclusion of all other persons.| Sl. No. | Name of the nominee(s) | Full address | Date of birth of nominee in case of minor |
2. As the nominee(s) at the serial number(s)........................... above is/are minor(s), I/We appoint Shri/Smt/Kumari.............................................(name and full address) as the person to receive the sum due thereon in the event of my/our death during the minority of the nominee(s).
3. The Certificates detailed below are enclosed.
| Sl. No. of Certificates | Denomination | Date of issue | Office of issue |