The Ministry of Finance has notified the issuance of 7.70% Government of India NSSF (C) (Non-Transferable) Special Securities, 2036-37 for the financial year 2026-27.
The notification, issued by the Department of Economic Affairs on June 16, 2026, outlines the terms and conditions governing these special government securities, which will serve as an investment avenue for funds mobilized under the National Small Savings Fund.
What Are These Special Securities?
The Government has specified that the 7.70% Government of India NSSF (C) (Non-Transferable) Special Securities, 2036-37 will be issued in the form of stock and credited to the holder's Subsidiary General Ledger (SGL) Account maintained by the Public Debt Office. These securities are specifically designed for investments made through the National Small Savings Fund and are not available for public subscription.
Purpose of the Issue
The issuance is linked to the National Small Savings Fund (NSSF), which was created within the Public Account of India to manage collections from various small savings schemes. Under the notification, the Central Government will issue these special securities against the amounts received from the NSSF from time to time.
Who Can Subscribe?
According to the notification, the Secretary, Ministry of Finance, Department of Economic Affairs , will be eligible to subscribe to these securities on behalf of the NSSF for amounts invested as specified by the Central Government.
Key Features of the Securities
Interest Rate
The securities will carry an attractive 7.70% annual interest rate , payable on a half-yearly basis from the date of issuance. Interest payments will be processed through the Public Debt Office of the Reserve Bank of India, Nagpur.
Tenure
The notified securities will have a 10-year maturity period from the date of issue.
Issue Price
The securities will be issued at par value, ensuring that the issue price equals the face value of the securities.
Minimum Subscription
The securities will be issued for a minimum face value of ₹1,00,000 and thereafter in multiples of ₹1,00,000.
Non-Transferable Nature
One of the most important aspects of these securities is that they are non-transferable. The notification clearly states that the securities cannot be transferred or converted into any other form unless specifically permitted by the Government in the future.
Redemption Mechanism
The Government has also provided a structured repayment framework. It will exercise a call option to redeem these securities in ten equal instalments, beginning from the year following the date of issuance. This mechanism helps manage long-term liabilities arising from NSSF investments.
Why This Matters
The NSSF is a crucial source of funding for the Government and supports popular savings schemes such as the Public Provident Fund (PPF), Senior Citizens Savings Scheme (SCSS), Sukanya Samriddhi Yojana (SSY), and National Savings Certificates (NSC). The issuance of these special securities ensures that funds collected through these schemes are invested in a structured and secure manner while providing a stable return to the fund.
Conclusion
The notification of the 7.70% Government of India NSSF (C) (Non-Transferable) Special Securities, 2036-37 highlights the Government's continued strategy of channeling small savings collections into dedicated government securities. With a 10-year tenure, 7.70% interest rate, and non-transferable structure, these securities play an important role in managing NSSF investments and supporting the country's public finance framework.
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