Early Repayment/Redemption of Inflation Indexed National Savings Securities-Cumulative, 2013
The Reserve Bank of India (RBI) has announced the early repayment/redemption of the Inflation Indexed National Savings Securities-Cumulative, 2013 (IINSS-C).
The IINSS-C was issued in 2013 with a maturity period of 10 years. However, due to the introduction of new inflation-indexed instruments, the RBI has decided to provide an option for early repayment/redemption to the investors.
Eligibility:
Only individual investors who had invested in IINSS-C in 2013 are eligible for early repayment/redemption.
The option for early repayment/redemption is available from March 1, 2023, to May 31, 2023.
Investors who opt for early repayment/redemption will receive the principal amount invested along with the accrued interest up to the date of repayment.
The interest rate for the period from the date of investment to the date of repayment will be calculated based on the prevailing inflation rate.
Investors who do not opt for early repayment/redemption will continue to hold their investments until the original maturity date of December 2023.
The RBI has advised investors to approach their respective banks/post offices where they had invested in IINSS-C to avail of the early repayment/redemption option.
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Download: Inflation Indexed National Savings Securities – Cumulative, 2013 – Early repayment/redemption