The deadline is now announced for the registration of Rs 40000 prize bond.
The final deadline for Rs 40000 prize bond registration is March 31, 2020. In the said duration, people can convert their bonds in cash or other sort of securities.
According to sources, the government took the step on the request of Financial Action Task Force or FATF. However, some people are using the Rs 40,000 prize bonds to hide their money and to whiten their black money.
On the other side, the Finance Ministry said the Rs 40,000 bearer bond can be converted to premium prize bonds that are registered with the government.