As per the notification of the finance division dated 28th April 2021, Prize Bonds of Rs7500 and Rs15000 issuance and sale were canceled and it was announced that no further draw of these Prize Bonds will be held.
As previously when bearer Prize Bonds of Rs25000 and Rs40,000 were launched, Premium Prize Bonds of the same denomination were issued at the same time.
But when we see Prize Bond Rs7500 and Rs15000 when these bonds were canceled no premium Bonds of the same denomination were introduced.
There is complete silence from the Govt side when Premium Prize Bonds of denomination Prize Bond Rs7500 and Rs15000 will be issued and what will be their features like amount of prizes to be offered, Number of Prize bonds, Profit to be offered against Premium Prize Bonds of denomination Rs 7500 and Rs 15000 and any other features attributed with these bonds.
It may happen that no such premium Prize bonds are issued completely in this denomination and introduce some other denomination bonds like Rs1000 Prize Bonds in Premium features.
It is also expected that Govt took a sudden decision about the cancellation of Prize Bond Rs7500 and Rs15000 in bearer forms and Premium Prize Bonds of the same denomination will be introduced later.
Investors who were holding Prize Bond Rs7500 and Rs15000 since previous months are very negative about Govt decision and they are protesting about the cancellation of Prize Bond Rs7500 and Rs15000 at once with a sudden notification.
They want to happen Prize Bond Rs7500 and Rs15000 lucky draws as per the schedule of 2021 announced by the Govt.
People are also facing difficulty in exchanging their bonds. Banks usually don’t cooperate with the people who want to exchange their bonds with National saving certificates, and Premium Prize Bonds, and even face difficulty in depositing their bonds into their own bank accounts.