Govt announces discontinuation of Rs15,000 and Rs7,500 bonds
Business
Thu, Apr 29, 2021
A notification issued by the federal government on Thursday showed that the Rs15,000 and Rs7,500 bonds will be discontinued.
The notification stated that the government will no longer hold draws for the two bonds.
The government said that Rs 15,000 bonds will no longer be cashable after June 30 and the Rs7,500 bonds can only be encashed till December 31.
The notification stated that people who do not wish to cash the bonds can pay an additional amount and convert them into Rs25,000 and Rs40,000 bonds. It also stated that the users can convert those bonds into special savings and defence saving certificates.