n NISM Certifications
X NISM Series X
Medium

Regarding the extension of the Senior Citizen’s Savings Scheme (SCSS), which statement is accurate?

Practice question from NISM Series XB- Investment Adviser (Level 2) Mock Test 6 — bank. The correct answer is highlighted below with a full explanation.

Options

  1. A

    Must apply at least 6 months before maturity

  2. Must apply within 1 year of maturity

    Correct answer

  3. C

    Extension application must be specified at account opening

  4. D

    Cannot be extended

Why this is the answer

The SCSS can be extended once, provided the account holder submits the extension request within one year of the original maturity date.

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