BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Cess
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Certificate
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Cash
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Common
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Detailed explanation-1: -NSC, i.e. National Savings Certificate, is a fixed-income investment scheme backed by the government of India.
Detailed explanation-2: -National Savings Certificates, popularly known as NSC, is an Indian Government savings bond, primarily used for small savings and income tax saving investments in India.
Detailed explanation-3: -Tax Benefits for NSC investment Additionally, the interest earned on the certificates annually, for the 1st 4 years are deemed to be reinvested ( ie. added back to the initial investment) and hence, also eligible for a tax break, subject to the overall annual limit of 1.5 lakh.
Detailed explanation-4: -The acronym ‘NSC’ stands for National Senior Certificate. It is a certificate that one would receive upon completion of their high school studies. Attaining this certificate allows one the opportunity to entry-level employment, internships, learnerships, university entrance, etc.
Detailed explanation-5: -National Savings Certificate can be easily purchased at any Indian Post Office at a fixed maturity period of 5 years. Interest rate is subject to periodic change as per Ministry of Finance announcements.