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| Issuer | Government of India, Ministry of Finance |
|---|---|
| Year | 1949 |
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| Value | Log in to see details |
| Currency | Rupee (1770-1947) |
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|---|---|
| Obverse lettering | Log in to see details |
| Reverse description | Reverse in matching lilac print, headed 'RECEIPT ON DISCHARGE' with '1949 ISSUE' at upper left. The left panel presents a 12-year redemption value schedule in tabular form, with Ashoka Lion Capital vignettes flanking the '100' denomination panels at each side. The right panel provides spaces for payment receipt, holder signatures, and date, with a note advising holders to record the certificate serial number. |
| Reverse lettering | 1949 ISSUE 12 Year certificate RECEIPT ON DISCHARGE. Amount to be invested Rs. 100-0-0 If payment is claimed after 1½ complete years .. 101-4-0 .. 2 .. 102-8-0 .. 3 .. 105-0-0 .. 4 .. 110-0-0 .. 5 .. 115-0-0 .. 6 .. 120-0-0 .. 7 .. 125-0-0 .. 8 .. 130-0-0 .. 9 .. 135-0-0 .. 10 .. 140-0-0 .. 11 .. 145-0-0 .. 12 .. 150-0-0 (NOT ENCASHABLE TILL END OF 18 MONTHS) Received payment of Rs. as. p. in words and figures Signature(s) or thumb impression(s) of holder(s). Date Note. The holder(s) is/are recommended to keep a note of the serial No and date of issue of this certificate and to notify immediately the post office in which the certificate is registered, in the event of the certificate being lost. ISSUED UNDER THE TERMS OF THE MINISTRY OF FINANCE NOTIFICATION No. D. 8024-PT/44 DATED THE 9th DECEMBER 1944 AS AMENDED FROM TIME TO TIME |
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| Comments |
National Savings Certificates were a cornerstone of India's post-independence mobilization of domestic capital. The 12-year series was designed to lock funds well beyond the politically turbulent short term — the 1949 date places this issue in the same year India adopted its constitution, when the new government was aggressively channeling private savings into state-directed development before the First Five-Year Plan launched in 1951.
These certificates circulated through post offices rather than banks, deliberately targeting rural savers without access to formal banking. High attrition rates from loss, moisture damage, and deliberate destruction after maturity redemption make surviving examples uncommon.