Lock-in for Rajiv Gandhi scheme may be reduced

The finance ministry is considering a proposal to cut the lock-in period for the Rajiv Gandhi Equity Savings Scheme to one year from the earlier proposal of three years

Written by ENS Economic Bureau | New Delhi | Published: April 5, 2012 1:24 am

The finance ministry is considering a proposal to cut the lock-in period for the Rajiv Gandhi Equity Savings Scheme (RGESS) to one year from the earlier proposal of three years.

The issue was discussed on Wednesday at a meeting between finance ministry officials and representatives of stock exchanges including BSE,NSE and MCX-SX.

“We discussed the issue of reduction of the blanket lock-in period to one year. We will hold another meeting with the stock exchanges to finalise the modalities,” a finance ministry official said after the meeting.

In addition,investors under the scheme are also likely to get demat accounts with lower annual maintenance charges. The circular for the scheme is due in May.

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