Shrinidhi Fixed Deposits


  • Applications for deposits will be accepted in the prescribed form duly completed accompanied by Account Payee Cheques or Bank Drafts payable at the place of collecting bank branch in favour of "Sardar Sarovar Narmada Nigam Ltd. Fixed Deposit Account." The application should be submitted at the Registered office of the Sardar Sarovar Narmada Nigam Ltd. or at the offices of the authorised Brokers of Collection
  • Applications for the deposits from minor(s) will be accepted through his/her Guardians


  • Fixed Deposits will be accepted in Scheme A for Non-Cumulative Deposits, Scheme B for Cumulative Deposits and Scheme C for Monthly Income Scheme as per Rate of Interest Section of "Shree Nidhi Fixed Deposit Scheme". Other terms are as follows:
    • Interest on deposits will commence from the date of realisation of the cheque/draft by the company's bankers.
    • Interest on deposits will cease to run from the date of maturity.
    • Payment of interest will be made by "Account Payee" interest warrant payable at par at selected branches of Company's bankers specified in the interest warrants.


  • Tax at the applicable rates as per the provisions of the Income-Tax Act. 1961 will be deducted at source from the amount of interest paid and/or credited to the depositor (Tax is not deductable if the aggregate amount of interest paid or payable during the financial year does not exceed Rs. 5,000 or the necessary statement/declaration in From 15G/15H/15AA as required under the said Act is furnished to the company at the beginning of the each financial year.


  • The term 'employee' shall include the Government employees working of deputation in the Nigam, other Government employees, Employees working under various local bodies. The retired employees of the Government of gujarat and Central Government, Employees working in Public Sector Undertaking/Boards of Government of Gujarat and other Public Sector Enterprises.
  • Applications for Deposits from employees should be contersigned by the Head of the office of the concerned employees and in the case of the retired employees the name of the office last served should be stated. A copy of the relieving order of the pension order duly attested should also be attached with the application form. In case of deposits in joint names, the first name depositor should be the above referred employees or retired employee as the case may be.
  • The registered Trade Unions and their allied Co-operative Credit Societies of welfare Organisations sponsored by such Trade Unions and other registered Associations or institutions working for social objectives shall be included in the term 'Charitable Trust' for the purpose of this Scheme.
  • The registered Trade Union and their Co-operative Credit Societies of welfare organisations sponsored by such Trade and other Associations or institutions should attach the certified copy of their registration along with the application form.