Govt to launch Rs1,000 Digital Prize Bonds with Rupees 4 million prize money

The government is poised to implement a new project known as the “Digital Prize Bonds,” which would involve the introduction of Rs1,000 prize bonds.

The digital bonds in question will possess a significant monetary value of Rs4 million and will be issued in the form of scripless bonds.

According to the published document, the commencement will involve the introduction of prize bonds valued at Rs1,000, with subsequent plans to introduce denominations of Rs500, Rs5,000, and Rs10,000 in due course.

The issuance of these digital bonds will be facilitated by the Central Directorate of National Savings. Accessibility will be ensured through the utilization of the “Digital Prize Bond Gateway,” an online platform that can be accessed via their mobile application or other authorized digital financial channels.

Bonds that are acquired one month prior to the draw date will be eligible for prizes in the upcoming draw of the corresponding denomination.

Draws will be conducted on a quarterly basis or as specified by the Finance Division.

The draw schedule for the Central Directorate of National Savings is annually announced at the commencement of each calendar year. Subsequently, the results are officially published in the Gazette by CDNS.

The reward values for various denominations of prize bonds are as follows: Rs2 million for Rs500 bonds, Rs4 million for Rs1,000 bonds, Rs20 million for Rs5,000 bonds, and Rs40 million for Rs10,000 bonds.

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