The Reserve Bank of India in its press release dated 27th May 2020 announces that the 7.75% savings (taxable) Bonds, 2018 shall cease for subscription from 28th May 2020.
The Bonds are issued at par at ₹100 and the minimum subscription was fixed at ₹1,000. As per the scheme, the Bonds are repayable on the expiration of seven years from the date of issue and for normal investors, premature withdrawal is not allowed. An investor in these bonds can opt to receive interest payments either in cumulative or non-cumulative forms.
Click here to read the Notification.
