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All information about new Prize bond of Rs.25000
 

(CDNS) will float Rs 25,000 prize bond from February 1, 2012 with the aim to promote public savings in the country on one side and encourage non-bank borrowings to control inflation. Director general CDNS Zafar Shaikh told reporter Monday that there was a need for a bond with the denomination of Rs 25,000 to cater to market appetite in the country. We have bonds of almost all denominations, but there was a gap of one bond of Rs 25,000 in between Rs 15,000 and Rs 40,000, he added.

“Now we are issuing this bond with the aim to promote public savings which is the main demand of the national economy. If you can encourage saving in the country you can remove economic imbalances”, he observed. Shaikh said that mobilizing money for the government through bonds is non-banking borrowing which can effectively control inflation in the country.

He pointed out that the first prize on Rs 25,000 bond will be Rs 50 million, while three more prizes of Rs 15 million each will be given to three lucky winners followed by 1,696 prizes of Rs 312,000 each. Senior analyst of KASB Securities Imtiaz Gadar said that the reason that CDNS continues to introduce innovative products to attract savers is to ease the pressure on “government borrowing” from banks.

As per National Saving instructions, we encourage you to check all the security measure being published by national saving for newly announced RS. 25,000 denomination specifications before purchasing the prize bond of Rs. 25,000


Selling starts in Feburary 2012...1st draw in May 2012

To purchase National Savings Products in UAE please visit or contact Habib Bank and United Bank branches


 


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