DEA – Increased Investment Opportunities for Senior Citizens

The Ministry of Finance (DEA) has amended the Senior Citizen Savings Scheme, 2019 through the Senior Citizen Savings (Amendment) Scheme, 2023. The maximum investment limit for the Senior Citizen Savings Scheme, 2019 has been revised from ₹15 lakhs to ₹30 lakhs. This information has been conveyed to all Head of Circles/Regions in a notification issued by the Department of Posts, Ministry of Communications, and is to be circulated to all concerned for information, guidance, and necessary action. The notification has been issued with the approval of the Competent Authority.

Revision of maximum limit for investment in Senior Citizen Savings Scheme, 2019

SB Order No. 06/2023

F. No 113-03/2017-SB(Pt.1)
Government of India
Ministry of Communications
Department of Posts
(Financial Services Division)

Dak Bhawan, New Delhi -110001
Dated: 31.03.2023

To
All Head of Circles/Regions

Subject: Revision of maximum limit for investment in Senior Citizen Savings Scheme, 2019.

Sir/Madam,

The undersigned is directed to convey the decision of Ministry of Finance (DEA) for amendment of Senior Citizen Savings Scheme, 2019 through Senior Citizen Savings (Amendment) Scheme, 2023 and revision of maximum investment limit for investment in Senior Citizen Savings Scheme, 2019 from ₹ fifteen lakh to ₹ thirty lakh. The copy of gazette notification G.S.R.240(E) dated 31.03.2023 issued by MOF(DEA) is enclosed.

  1. Accordingly, In the Senior Citizens’ Savings Scheme (hereinafter referred to as the said Scheme), in paragraph 3, in subparagraph (7), for the words “fifteen lakhs”, the words “thirty lakh” shall be substituted.
  2. 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.
  3. This is issued with the approval of the Competent Authority.

Yours Faithfully

(Devendra Sharma)
Assistant Director (SB-II)

Source: utilities.cept.gov.in

DEA – Increased Investment Opportunities for Senior Citizens

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