#Tenders of Uco Bank

[classic-tenders]

UCO Bank Tenders: Unlocking the Gateway to Big Business Opportunities

Submitting a successful bid for UCO Bank tenders requires careful planning and preparation. Start by researching past tenders and understanding UCO Bank’s needs. Tailor your proposal to meet specific requirements, highlight your experience, and offer competitive pricing. Ensure all necessary documents are included, and comply with the tender’s eligibility criteria to avoid disqualification. Networking with key stakeholders and building strong relationships within the industry can also give you a competitive edge. Partnering with a tender consultant can further increase your chances of success by providing expert guidance throughout the process. For more details, visit: UCO Bank Tenders: Unlocking the Gateway to Big Business Opportunities

[smarthomesdholera]

Dholera Greenfield Smart City - A Trillion Dollar baby - Part II

What all government authorities are functioning and operational in Dholera?

DSIRDA (Dholera SIR Development Authority)– Under the SIR Act 2009 a regional development authority were formed in February 2010 with the name of DSIRDA. Primary responsibility of this authority is planning and development like Land use Finalisation, Town Planning Schemes, Development Plan of SIR, co-ordination with local farmers, giving permissions etc. will be responsibility of DSIRDA only.

DICDL (Dholera Industrial City Development Limited)– In January 2016 a Special Purpose Vehicle company were formed with the name of DICDL in which Gujarat government has 51% stake through DSIRDA and Central government has 49% stake through DMIC trust.

RERA (Real Estate Regulation and Development Act) – As Town Planning Schemes are getting finalised in Dholera SIR now so slowly and steadily RERA is also getting active in Dholera SIR. This is certainly a good move because it gives a lot of comfort level to an investor as well.

SEVA SADAN DHOLERA – It is the same place where registries of Dholera Taluka properties are done and all the mutation work is also done in the same premises.

DIACL (Dholera International Airport Company Limited) – A Special Purpose Vehicle company was formed by Government of Gujarat with the name of DIACL which at present is operating from Udyog Bhavan at Gandhinagar in Gujarat. Airports Authority of India (AAI) has majority 51% stake in the company, Gujarat government has 33% stake and the National Industrial Corridor Development and Implementation Trust (NICDIT) has the remaining 16%

Before commencing work on ground did Government made any Master Plan and why it took a more than a decade to see something on ground?

Yes, absolutely. Dholera SIR is an extremely planned city for which various multinational companies were hired to make its blue print.

Master Planning of Dholera SIR is done by British Infrastructure giant Halcrow which has executed projects in more than 70 countries from planning phase to deigning & management as well. American multinational engineering company AECOM has done designing of Dholera SIR and is completely responsible for implementing trunk infrastructure including roads, rail, drainage, water supply, water treatment etc. State government has hired Wipro as ICT consultants and companies like IBM and CISCO were hired for implementing technology used in the making of a smart city.

Starting from forming a legislative framework SIR Act 2009, Gujarat government formed a regional development authority DSIRDA in year 2010 and then in year 2012 Development Plan of Dholera SIR was sanctioned along with draft Town Planning 1 and 2 schemes were also sanctioned. In year 2012 only draft Town Planning schemes 3, 4, 5 and 6 were submitted to apex authority GIDB. Environmental clearance notification was received on August 22, 2014. Activation area pre-designs for roads and services was obtained in January 2015 and Roads and Services Contract for Activation Area was awarded in June 2015. In January 2016 DICDL was formed a city level special purpose vehicle company.

Dholera SIR is huge, it is one of the Largest Smart and Sustainable Cities to be developed in India. Total area is 920 sq kms comprising of 22 villages of Dholera Taluka. Government has taken up Town Planning Schemes practice and the region is divided in 6 Town Planning Schemes as of now which is to be developed in three development phases. Development Phase 1 we will see Town Planning 1 and 2 getting developed and one it is done after a decade we will see Town Planning 3 and 4 getting developed and after another decade we will see Town Planning 5 and 6 getting developed under Development Phase 3.

Dholera SIR is completely divided in zones and in all we have 15 zones in Dholera SIR which are like follows:

·         Industrial Zone

·         Knowledge & IT Zone

·         Public Facilities Zone

·         Solar Park

·         Residential Zone

·         High Access Corridor

·         Logistics

·         City Center

·         Strategic Infrastructure Zone

·         Agriculture Zone

·         Village Buffer

·         Tourism: Resorts

·         Recreation, Sports and Entertainment Zone

·         Green Space

·         Coastal Regulation Zone

What is status of Dholera Greenfield Airport and Ahmedabad-Dholera Greenfield Expressway?

Let’s first talk about the much talked Dholera International Airport. I’ve already mentioned about DIACL that is the company which is going to plan and get airport work implemented.

1426 hectares of Government land has been reserved for Airport in Navagam Village of Dholera Taluka. Airport Authority of India has already prepared Feasibility Report, Detailed Project Report and EIA based on which all the required NOC’s and in-principle approvals have already been obtained for the Airport.

As per the latest news, central government has allotted Rs. 100 Crores as 1st instalment of funding for the said Airport and work of Land Filling in the region is getting started.

Besides handling logistics requirements of Dholera SIR, this Greenfield Airport will also handle the spill over traffic of existing Ahmedabad International Airport.

In adjacent Government land parcels available along with the Dholera International Airport, DIACL plans for an Aviation Zone and a MRO hub for manufacturing various parts of aircrafts or Aviation Academy, Flight training institutes etc.

At the same time, Ahmedabad-Dholera Greenfield Expressway tender has been assigned by NHAI and work is to commence now. NHAI is targeting expressway work to get completed in 18-24 months time frame. Initially it is designed as 4 lane expressway and later on it will be extended to 6 lanes and the best part is that scope of increasing lanes is considered from now only. This is the beauty about Greenfield projects actually. Along with the Expressway parallel Metro Trains are also planned.

What sort of technology is used to develop this new smart city and which all companies are involved in doing so?

Dholera being developed as a first Greenfield Smart and Sustainable city along with DMIC alignment in Gujarat, India is to witness a huge technical infrastructure like ICT, IoT, City Wide Applications, Data Centres, Networking, Wi-Fi etc. and companies like WIPRO, IBM and CISCO are already in planning and execution phase in Dholera Smart City.

About Author: Ms. Meenakshi Khurana, Managing Director, SmartHomes Infrastructure Pvt. Ltd. which is the pioneer in Dholera Real Estate market as technically most advanced and innovative developers & builders.

SmartHomes Infrastructure: SmartHomes Infrastructure Private Limited, a real estate developer entered the Dholera market 6 years back and now is one of the leading and most innovative developers and land owners of inside Dholera SIR and on border of Dholera SIR. SmartHomes Infrastructure owns huge land parcels & multiple projects in Dholera Smart City. Smart Homes is focusing on developing projects in TP 1, TP 2 and 11 sub TPs of Dholera SIR which will be on both side of Express Highway near Airport and on the border of Dholera SIR.

Smart Homes mainly deals in Commercial, Industrial and Residential Land and Projects. Our customers are High Net worth Individuals, NRIs from more than 20 countries, multinational companies and its employees from organisations like ISRO, ICICI, SBI, UCO Banks, Army, Navy and Air force.

International businesses that are looking to start their industry in Dholera, Smart Homes provide them end to end solutions from land acquisition, required permissions from the government for setting up an industry and residential set up for employees.

To be continued in Dholera Greenfield Smart City – A Trillion Dollar Baby Part 3

[krunalramani003]

Tenders Of Uco Bank

Tender for Tender For Interior Furniture, Civil And Electrical Works At Mahmoorganj Branch Atm

TRN : 10447448 | Central Government/Public Sector | Banking And Mutual Funds And Leasings

Varanasi - Uttar Pradesh | Last Date : 03 Feb, 2017 | Tender Value NA

 |  Get Help |  Liaison Service |

  Tender for Supply, Installation And Maintenance Of E-Surveillance System At Atm Sites & Branches On Rental Basis

TRN : 10443271 | Central Government/Public Sector | Banking And Mutual Funds And Leasings

Kolkata - West Bengal | Last Date : 07 Feb, 2017 | Tender Value NA

 |  Get Help |  Liaison Service |

  Tender for Tender For Interior And Furniture, Electrical Works At Fatehpurmafi Branch

TRN : 10447420 | Central Government/Public Sector | Banking And Mutual Funds And Leasings

Allahabad - Uttar Pradesh | Last Date : 03 Feb, 2017 | Tender Value NA

 |  Get Help |  Liaison Service |

  Tender for Auction Sale Of Vehicle

TRN : 10428260 | Central Government/Public Sector | Banking And Mutual Funds And Leasings

Mumbai - Maharashtra | Last Date : 08 Feb, 2017 | Tender Value NA

 |  Get Help |  Liaison Service |

  Tender for Auction Sale Of Vehicle

TRN : 10423253 | Central Government/Public Sector | Banking And Mutual Funds And Leasings

Kolkata - West Bengal | Last Date : 06 Feb, 2017 | Tender Value NA

 |  Get Help |  Liaison Service |

  Tender for Auction Sale Of Vehicle

TRN : 10423554 | Central Government/Public Sector | Banking And Mutual Funds And Leasings

Kolkata - West Bengal | Last Date : 08 Feb, 2017 | Tender Value NA

 |  Get Help |  Liaison Service |

  Tender for Advertisement For Empanelment Of Valuers For Valuation Of Primary Collateral Securities

TRN : 10411516 | Central Government/Public Sector | Banking And Mutual Funds And Leasings

Mumbai - Maharashtra | Last Date : 15 Feb, 2017 | Tender Value NA

 |  Get Help |  Liaison Service |

  Tender for Supply, Installation & Maintenance Of Ups Systems

TRN : 10403764 | Central Government/Public Sector | Banking And Mutual Funds And Leasings

Kolkata - West Bengal | Last Date : 31 Jan, 2017 | Tender Value NA

 |  Get Help |  Liaison Service |

  Tender for Construction Of R Seti Building

TRN : 10403781 | Central Government/Public Sector | Banking And Mutual Funds And Leasings

Sirmour - Himachal Pradesh | Last Date : 07 Feb, 2017 | Tender Value 1.52 Crore

 |  Get Help |  Liaison Service |

  Tender for Construction Of R Seti Building

TRN : 10403775 | Central Government/Public Sector | Banking And Mutual Funds And Leasings

Shimla - Himachal Pradesh | Last Date : 07 Feb, 2017 | Tender Value 1.50 Crore

 |  Get Help |  Liaison Service |

For More Information About Uco Bank Tenders Just Click Here

[bharatlivenewsmedia]

Fire breaks out at Supreme Court, no injuries reported

Fire breaks out at Supreme Court, no injuries reported

Fire breaks out at Supreme Court, no injuries reported New Delhi: A fire broke out at UCO Bank Branch inside the premises of Supreme Court on Tuesday, a fire department official said, adding that no casualties or injuries were reported from the incident.The official informed that they received a call about the fire incident at around 9.10 a.m., after which as many as five fire tenders were…

[sunshineweb]

How to buy/invest in 7.75% Government of India Savings Bonds?

How to buy/invest in 7.75% Government of India Savings Bonds? What are the things we have to take care of before blindly buying this 7.75% Government Of India Savings Bonds?

Features of 7.75% Government Of India Savings Bonds (Taxable)

# HUF and Individual (Single, Jointly, Either or Survivor, or on behalf of minor as a Guardian are allowed to invest in these bonds.

# This bond is not available for NRIs.

# Minimum amount is Rs.1,000 (face value of the bond) and there is no maximum limit for investment.

# The Bonds will be issued, in demat form and credited to the Bond Ledger Account (BLA) of the investor/s on the date of tender of cash or the date of realization of draft/ cheque.

What is the return of 7.75% Government of India Bonds?

The Bonds will bear interest at the rate of 7.75% per annum. Interest on non-cumulative Bonds will be payable at half-yearly intervals from the date of issue (The date of issue of the Bonds in the form of Bonds Ledger Account, will be opened (issued) from the date of tender of cash or the date of realization of draft/cheque.) or interest on cumulative Bonds will be compounded with half-yearly rests and will be payable on maturity along with the principal.

In the cumulative Bonds, the maturity value of the Bonds shall be Rs.1,703 for every Rs.1,000 face value of the bond.

Interest to the holders opting for non-cumulative Bonds will be paid from the date of issue up to 31st July OR 31st January as the case may be, and thereafter half-yearly for a period ending 31st July and 31st January on 1st August and 1st February.

Interest on Bonds in the form of “Bonds Ledger Account” will be paid, by electronically by credit to bank account of the holder as per the option exercised by the investor/holder.

The advice of payment of interest will be issued to the investor one month in advance from the due date. Maturity intimation advice will be issued one month before the due date of the bond.

Facility for payment of interest and principal by ‘demand draft free of cost or at par cheques’ for up country customers is available. The facility of the intra-bank branch and interbank branch transfer of the bonds is available.

Do remember that you can’t change the bond option in middle from Non-Cumulative to Cumulative and vice versa.

Note:-You have to receive the redemption procedure at maturity or as and when the interest is payable. The government will not pay any interest on such interest income which is not claimed or any principal amount that also not claimed by investors.

Temf of the 7.75% Government of India Bond

The bond tenure is 7 years from the date of issue. However, you can opt for premature redemption as per the Govt. Notification dated July 29, 2013, and subsequent amendment vide Notification dated August 16, 2013. It is discussed as below.

Premature encashment in respect of the Bonds shall be allowed for individual investors in the age group of 60 years and above, subject to submission of document relating to date of birth of the an investor in support of age to the satisfaction of the issuing bank, after minimum lock-in period from the date of issue as indicated below-

(a) Lock in period for investors in the age bracket of 60 to 70 years shall be 6 years from the date of issue.

(b) Lock in period for investors in the age bracket of 70 to 80 years shall be 5 years from the date of issue.

(c) Lock in period for investors in the age of 80 years and above shall be 4 years from the date of issue.

In case of joint holders or more than two holders of the Bond, the above lock-in period will be applicable even if any one of the holders fulfills the above conditions of eligibility.

After aforesaid minimum lock-in period from the date of issue, an eligible investor can surrender the bonds at any time after the 12th, 10th and 8th half year corresponding to the respective lock-in period but redemption payment will be made on the following interest payment due date.

Thus, the effective date of premature encashment for eligible investors will be 1st August and 1st February every year. However, 50% of interest due and payable for the last six months of the holding period will be recovered in such cases, both in respect of Cumulative and Non-cumulative bonds.

The Bonds are nottransferable.  The Bonds are nottradeable in the Secondary market and are noteligible as collateral for loans from banking institutions, non-banking financial companies or financial institutions.

An earlier version of the bond period was 6 years.

Nomination facility in 7.75% Government of India Bonds

The sole Holder or all the joint holders may nominate one or more persons as a nominee. Non-Resident Indians (NRIs) can also be nominated. However, remittance of the interest/maturity proceeds will be subject to the foreign Exchange regulations prevailing at the time of remittance.

If the nomination has been made in favour of two or more nominees and either or any of them dies before such payment becomes due, the title to the Bonds shall vest in the surviving nominee or nominees and the amount being due thereon shall be paid accordingly.

In the event of the nominee or nominees predeceasing the holder, the holder may make a fresh nomination. You can make a separate nomination for each investment.

The nomination is not allowed where the bonds are held in the name of the minor. A nomination made by a holder of a Bond can be changed by a fresh nomination in Form B, or as near thereto as may be, or may be canceled by giving notice in writing to the Receiving Office in Form C,

If the nominee is a minor, the holder of Bonds may appoint any person to receive the Bonds/amount due in the event of his / her / their death during the period the nominee is a minor.

You can change the nomination as and when you need.

Taxation of 7.75% Government of India Savings Bonds

Interest income from 7.75% Government of India Savings Bonds will be taxable. However, there is no wealth tax you have to pay. Tax will be deducted at source (TDS) while interest is paid.

The Bonds will be exempt from wealth-tax under the Wealth Tax Act, 1957.

I explained basic features in below image for your easy understanding.

How to buy/invest in 7.75% Government of India Savings Bonds?

You can buy 7.75% Government of India Savings Bonds from designated branches of SBI and Associate banks,18 Nationalised banks, 3 Private Sector banks (like HDFC and ICICI Banks) and Stock Holding Corporation of India Ltd. I have listed them as below.

# State Bank Of India

# Allahabad Bank

# Bank of Baroda

# Bank Of India

# Bank Of Maharashtra

# Canara Bank

# Central Bank Of India

# Dena Bank

# Indian Bank

# Indian Overseas Bank

# Punjab National Bank

# Syndicate Bank

# UCO Bank

# Union Bank of India

# United Bank Of India

# Corporation Bank

# Oriental Bank Of Commerce

# Vijaya Bank

# IDBI Bank

# ICICI Bank Ltd.

# HDFC Bank Ltd.

# Axis Bank Ltd.

# Stock Holding Corporation of India Ltd.

The application form looks like below.

Download the Application form to buy/invest in 7.75% Government of India Savings Bonds.

Where to complain in case of 7.75% Government of India Savings Bonds?

If you have any issue with Bank regarding this bond, then you can contact RBI directly using below details.

THE REGIONAL DIRECTOR, RESERVE BANK OF INDIA, CUSTOMER SERVICE DEPARTMENT/ BANKING OMBUDSMAN (LOCATION)

Otherwise, you can also use the below address.

THE CHIEF GENERAL MANAGER IN-CHARGE DEPARTMENT OF GOVERNMENT AND BANK ACCOUNTS CENTRAL OFFICE BYCULLA, OPP. BOMBAY CENTRAL RAILWAY STATION MUMBAI- 400 008, MAHARASHTRA

7.75% Government of India Savings Bonds -Should you invest?

Let us now discuss about who should consider this bond.

# SOVERIGN GUARANTEE

The biggest positive point is that SECURITY of Government of India. No question of default risk in such bond. Hence, you can invest blindly without any doubt.

# INTEREST RATE

If you look at SBI FD Rate for 5 Yrs to 10 Yrs deposit, it is at 6%. Also, the current Post Office 5 Yrs FD rates are lower. Hence, I think this bond is definitely the BEST option who are looking for SAFETY and also the GUARANTEED return.

# GOAL-BASED INVESTMENT

I compared the interest of similar tenure products. Hence, do remember that invest in such bond only if your goal is 5 years or so. Also, if you are looking for some constant stream of income, then also you can look at such bond.

But never invest for the sake GUARANTEE and RETURN.

If your goal is more than 5 years or so, then use the products like LIC’s Jeevan Akshay VI or Pradhan Mantri Vaya Vandana Yojana. If you are a senior citizen, then you can opt for Post Office SCSS Scheme.

# TAXATION

Whatever the return you will receive from this bond is taxable and also TDS is applicable. Hence, don’t rely on 7.75% return. But try to consider the post-tax return.

Suppose your income is less than Rs.2,50,000 then the effective return will be 7.75%.

Suppose your income tax slab is at 10%, then the effective return will be 6.975%

Suppose your income tax slab is at 20%, then the effective return will be 6.2%

Suppose your income tax slab is at 30%, then the effective return will be at 5.425%

#INTEREST RATE RISK

Even though there is no default risk, there is always an interest rate risk. We don’t know the applicable interest rate after 7 years of maturity. Hence, this interest rate risk is always there.

However, considering the past trend, I am not sure that the Government will close the subscription within 4-5 years.

Go ahead to buy these bonds based on the above points. Blindly for the sake of GUARANTEE and RISK-FREE return always not works.

For a complete post, refer my old post “7.75% Government of India Savings Bonds -Should you invest?“.

Conclusion:-Due to credit Risk or Default Risk many are looking for safe investment. In such a situation, where debt products are risky and equity market down, the best option is to go for such the safest product. However, consider your actual requirement, taxation, and liquidity issue also before BLIND JUMPING.

Refer our latest posts:-

Berkshire Hathaway Annual Meeting 2020 – Warren Buffett on Index Fund

How to buy/invest in 7.75% Government of India Savings Bonds?

LIC Term Insurance Plans 2020 – Features and Benefits

Franklin India’s six closed Funds – When you will get back the money?

Franklin Templeton India Closed 6 Debt Funds – What investors can do?

Top 5 Best Health Insurance Plans in India 2020

The post How to buy/invest in 7.75% Government of India Savings Bonds? appeared first on BasuNivesh.

How to buy/invest in 7.75% Government of India Savings Bonds? published first on https://mbploans.tumblr.com/

[taxcharcha]

UCO Bank - Request for proposal for Implementation of Indian Accounting Standards

UCO Bank – Request for proposal for Implementation of Indian Accounting Standards

UCO Bank invites proposal from the reputed Chartered Accountants firm for the implementation of Indian Accounting Standards.

To download the Tender document, click here Uco Bank

[the-tenders]

Tenders of Uco Bank

Just Click it http://www.thetenders.com/All-India-Tenders/Agency/Tenders-of-Uco-Bank/3174/All-Tenders/1 or call us at 09276083333 Tender information Portal For online and offline Tenders Floated By Uco Bank-UB Tenders.

[sunshineweb]

How to buy/invest in 7.75% Government of India Savings Bonds?

How to buy/invest in 7.75% Government of India Savings Bonds? What are the things we have to take care of before blindly buying this 7.75% Government Of India Savings Bonds?

Features of 7.75% Government Of India Savings Bonds (Taxable)

# HUF and Individual (Single, Jointly, Either or Survivor, or on behalf of minor as a Guardian are allowed to invest in these bonds.

# This bond is not available for NRIs.

# Minimum amount is Rs.1,000 (face value of the bond) and there is no maximum limit for investment.

# The Bonds will be issued, in demat form and credited to the Bond Ledger Account (BLA) of the investor/s on the date of tender of cash or the date of realization of draft/ cheque.

What is the return of 7.75% Government of India Bonds?

The Bonds will bear interest at the rate of 7.75% per annum. Interest on non-cumulative Bonds will be payable at half-yearly intervals from the date of issue (The date of issue of the Bonds in the form of Bonds Ledger Account, will be opened (issued) from the date of tender of cash or the date of realization of draft/cheque.) or interest on cumulative Bonds will be compounded with half-yearly rests and will be payable on maturity along with the principal.

In the cumulative Bonds, the maturity value of the Bonds shall be Rs.1,703 for every Rs.1,000 face value of the bond.

Interest to the holders opting for non-cumulative Bonds will be paid from the date of issue up to 31st July OR 31st January as the case may be, and thereafter half-yearly for a period ending 31st July and 31st January on 1st August and 1st February.

Interest on Bonds in the form of “Bonds Ledger Account” will be paid, by electronically by credit to bank account of the holder as per the option exercised by the investor/holder.

The advice of payment of interest will be issued to the investor one month in advance from the due date. Maturity intimation advice will be issued one month before the due date of the bond.

Facility for payment of interest and principal by ‘demand draft free of cost or at par cheques’ for up country customers is available. The facility of the intra-bank branch and interbank branch transfer of the bonds is available.

Do remember that you can’t change the bond option in middle from Non-Cumulative to Cumulative and vice versa.

Note:-You have to receive the redemption procedure at maturity or as and when the interest is payable. The government will not pay any interest on such interest income which is not claimed or any principal amount that also not claimed by investors.

Temf of the 7.75% Government of India Bond

The bond tenure is 7 years from the date of issue. However, you can opt for premature redemption as per the Govt. Notification dated July 29, 2013, and subsequent amendment vide Notification dated August 16, 2013. It is discussed as below.

Premature encashment in respect of the Bonds shall be allowed for individual investors in the age group of 60 years and above, subject to submission of document relating to date of birth of the an investor in support of age to the satisfaction of the issuing bank, after minimum lock-in period from the date of issue as indicated below-

(a) Lock in period for investors in the age bracket of 60 to 70 years shall be 6 years from the date of issue.

(b) Lock in period for investors in the age bracket of 70 to 80 years shall be 5 years from the date of issue.

(c) Lock in period for investors in the age of 80 years and above shall be 4 years from the date of issue.

In case of joint holders or more than two holders of the Bond, the above lock-in period will be applicable even if any one of the holders fulfills the above conditions of eligibility.

After aforesaid minimum lock-in period from the date of issue, an eligible investor can surrender the bonds at any time after the 12th, 10th and 8th half year corresponding to the respective lock-in period but redemption payment will be made on the following interest payment due date.

Thus, the effective date of premature encashment for eligible investors will be 1st August and 1st February every year. However, 50% of interest due and payable for the last six months of the holding period will be recovered in such cases, both in respect of Cumulative and Non-cumulative bonds.

The Bonds are nottransferable.  The Bonds are nottradeable in the Secondary market and are noteligible as collateral for loans from banking institutions, non-banking financial companies or financial institutions.

An earlier version of the bond period was 6 years.

Nomination facility in 7.75% Government of India Bonds

The sole Holder or all the joint holders may nominate one or more persons as a nominee. Non-Resident Indians (NRIs) can also be nominated. However, remittance of the interest/maturity proceeds will be subject to the foreign Exchange regulations prevailing at the time of remittance.

If the nomination has been made in favour of two or more nominees and either or any of them dies before such payment becomes due, the title to the Bonds shall vest in the surviving nominee or nominees and the amount being due thereon shall be paid accordingly.

In the event of the nominee or nominees predeceasing the holder, the holder may make a fresh nomination. You can make a separate nomination for each investment.

The nomination is not allowed where the bonds are held in the name of the minor. A nomination made by a holder of a Bond can be changed by a fresh nomination in Form B, or as near thereto as may be, or may be canceled by giving notice in writing to the Receiving Office in Form C,

If the nominee is a minor, the holder of Bonds may appoint any person to receive the Bonds/amount due in the event of his / her / their death during the period the nominee is a minor.

You can change the nomination as and when you need.

Taxation of 7.75% Government of India Savings Bonds

Interest income from 7.75% Government of India Savings Bonds will be taxable. However, there is no wealth tax you have to pay. Tax will be deducted at source (TDS) while interest is paid.

The Bonds will be exempt from wealth-tax under the Wealth Tax Act, 1957.

I explained basic features in below image for your easy understanding.

How to buy/invest in 7.75% Government of India Savings Bonds?

You can buy 7.75% Government of India Savings Bonds from designated branches of SBI and Associate banks,18 Nationalised banks, 3 Private Sector banks (like HDFC and ICICI Banks) and Stock Holding Corporation of India Ltd. I have listed them as below.

# State Bank Of India

# Allahabad Bank

# Bank of Baroda

# Bank Of India

# Bank Of Maharashtra

# Canara Bank

# Central Bank Of India

# Dena Bank

# Indian Bank

# Indian Overseas Bank

# Punjab National Bank

# Syndicate Bank

# UCO Bank

# Union Bank of India

# United Bank Of India

# Corporation Bank

# Oriental Bank Of Commerce

# Vijaya Bank

# IDBI Bank

# ICICI Bank Ltd.

# HDFC Bank Ltd.

# Axis Bank Ltd.

# Stock Holding Corporation of India Ltd.

The application form looks like below.

Download the Application form to buy/invest in 7.75% Government of India Savings Bonds.

Where to complain in case of 7.75% Government of India Savings Bonds?

If you have any issue with Bank regarding this bond, then you can contact RBI directly using below details.

THE REGIONAL DIRECTOR, RESERVE BANK OF INDIA, CUSTOMER SERVICE DEPARTMENT/ BANKING OMBUDSMAN (LOCATION)

Otherwise, you can also use the below address.

THE CHIEF GENERAL MANAGER IN-CHARGE DEPARTMENT OF GOVERNMENT AND BANK ACCOUNTS CENTRAL OFFICE BYCULLA, OPP. BOMBAY CENTRAL RAILWAY STATION MUMBAI- 400 008, MAHARASHTRA

7.75% Government of India Savings Bonds -Should you invest?

Let us now discuss about who should consider this bond.

# SOVERIGN GUARANTEE

The biggest positive point is that SECURITY of Government of India. No question of default risk in such bond. Hence, you can invest blindly without any doubt.

# INTEREST RATE

If you look at SBI FD Rate for 5 Yrs to 10 Yrs deposit, it is at 6%. Also, the current Post Office 5 Yrs FD rates are lower. Hence, I think this bond is definitely the BEST option who are looking for SAFETY and also the GUARANTEED return.

# GOAL-BASED INVESTMENT

I compared the interest of similar tenure products. Hence, do remember that invest in such bond only if your goal is 5 years or so. Also, if you are looking for some constant stream of income, then also you can look at such bond.

But never invest for the sake GUARANTEE and RETURN.

If your goal is more than 5 years or so, then use the products like LIC’s Jeevan Akshay VI or Pradhan Mantri Vaya Vandana Yojana. If you are a senior citizen, then you can opt for Post Office SCSS Scheme.

# TAXATION

Whatever the return you will receive from this bond is taxable and also TDS is applicable. Hence, don’t rely on 7.75% return. But try to consider the post-tax return.

Suppose your income is less than Rs.2,50,000 then the effective return will be 7.75%.

Suppose your income tax slab is at 10%, then the effective return will be 6.975%

Suppose your income tax slab is at 20%, then the effective return will be 6.2%

Suppose your income tax slab is at 30%, then the effective return will be at 5.425%

#INTEREST RATE RISK

Even though there is no default risk, there is always an interest rate risk. We don’t know the applicable interest rate after 7 years of maturity. Hence, this interest rate risk is always there.

However, considering the past trend, I am not sure that the Government will close the subscription within 4-5 years.

Go ahead to buy these bonds based on the above points. Blindly for the sake of GUARANTEE and RISK-FREE return always not works.

For a complete post, refer my old post “7.75% Government of India Savings Bonds -Should you invest?“.

Conclusion:-Due to credit Risk or Default Risk many are looking for safe investment. In such a situation, where debt products are risky and equity market down, the best option is to go for such the safest product. However, consider your actual requirement, taxation, and liquidity issue also before BLIND JUMPING.

Refer our latest posts:-

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