The government has taken initiative to reduce the maximum limit of investment in national savings certificate, amid already taken various steps to discourage investment in.
As per new rules, it is not allowed to purchase savings certificate above Tk 50 lakh and Tk 1 crore respectively for single name, and joint name.
If customer is pensioner, he can buy the same of Tk 1 crore for single name, and of Tk 1.50 crore for joint name.
Cuurently a person can invest highest Tk 1.55 crore for single name and Tk 2.15 crore for joint.
These changes are being brought in recommendation of the committee formed for making coordinated rules for savings certifciate, said sources in the committee.
The 10-member committee has alreadly made draft of new policies that will be finalized soon, the sources added.
Savings certificate salke programme under National Savings Scheme Online Management System is going on since July 1 last year.
Meanwhile, the government has taken different steps to discourage investment in savings certificate. As part of this, rate of deducting source tax on interest of savings certificate was raised to 10 percent this year from 5 percent.
Besides, tax identification number (TIN) has also been made obligatory in case of purchasing savings certificate above Tk 1 lakh. As a result, sale of savings certificate declined.