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National Savings Certificate, even with its long lock-in period and not so attractive interest, was once much sought after by the salaried people. Following the arrival of quite a few new open-ended schemes floated by private players with only three-year lock-in period and benefits such as tax relief and attractive returns, the NSC has indeed fallen out of their favour.

In order to make NSC competitive and attractive in terms of returns, the Government must shorten the long lock-in period and revise the interest rates.

V. S. Jayaraman e-mail

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