Govt approves to launch Rs1000 Digital Prize Bonds

The government to launch Rs 1000 prize bonds on “Digital Prize Bonds” having prize money of Rs 4 million and would be scripless bonds.
According to a document received first launching will be for Rs 1000 prize bonds later denominations of Rs. 500, Rs. 5,000
And Rs. 10,000 would be floated.
However, any further denominations can be added to the list in the future, the document said.
A digital bond issued by the Central Directorate of National Savings in scripless form will be liable to prize money, in case wins in the periodic draws, and accessible through Digital Prize Bond Gateway available online
“Digital Prize Bond Gateway” or “DPB Gateway”:
An online platform that will be accessible through CDNS’ Mobile Application, or any other digital financial channel approved or introduced by the CDNS, to the potential customers to register for purchase and sale of Digital prize bond and manage their portfolio of Digital Prize bonds.
Bond purchased one month prior the date of draw shall qualify for a prize in the forthcoming draw of the respective denomination.
Drawsshallbeheldonquarterlybasis,oranyotherfrequencyasnotified by the Finance Division from time to time
The draw schedule of these bonds shall be announced by Central Directorate of National Savings at the start of each calendar year.
ThedrawresultofthesebondsshallbepublishedintheofficialGazette by CDNS.

On Rs 500 prize bonds biggest prize would be Rs 20 lacs, Rs 1000 bonds the amount will be Rs 40 lacs, Rs 5000 bonds the amount will be Rs 2 crore and Rs 10,000 the amount will be Rs 4 crore