Prize Bonds are bearer type of
security available in the denominations of Rs.200, Rs.750, Rs.1,500,
Rs.7,500, Rs.15,000 and Rs.40,000. These bonds are issued in series.
Each series consist of one less than 1,000,000 bonds. No fixed return is
paid but prize draws are held on quarterly basis. The draws are held
under common draw method and the number of prizes are same for each
series. It means that if 50 series of Rs.200 Prize Bond are in
circulation. Then on each draw we have 50 winners of 1st prize and 250
winners of 2nd Prize and so on. The number and amount of prizes on
various denomination of prize bonds for each series is shown in the
following table