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New bond for senior citizens from April

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January 09, 2004 16:20 IST

In a bid to give relief to senior citizens, the government on Friday announced the introduction of a new bond from April.

The bond, Dada-Dadi, would have higher interest rate than the prevailing ones. Those above the age of 60 years would be able to subscribe the bond, Finance Minister Jaswant Singh said.

The existing savings instruments will be modified as and when required, he said.

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