Post Office Time Deposit Interest Rate from 01.04.2012

POST OFFICE TIME DEPOSIT (AMENDMENT) RULES, 2012 – AMENDMENT IN RULE 7

NOTIFICATION NO.GSR 323(E), DATED 25-4-2012

In exercise of the powers conferred by section 15 of the Government Savings Banks Act, 1873 (5 of 1873), the Central Government hereby makes the following rules further to amend the Post Office Time Deposit Rules, 1981, namely:-

1. (1) These rules may be called the Post Office Time Deposit (Amendment) Rules, 2012.

(2) They shall deemed to have come into force on the 1st day of April, 2012.

2. In the Post Office Time Deposit Rules, 1981,-

(a) In rule 7,-

(A) under the heading Table-R, for the brackets, words, figures and letters “[For deposits made on or after the 1st December, 2011]”, the brackets words, figures and letters,”[For deposits made on or after the 1st December, 2011 but before 1st day of April, 2012]” shall be substituted;

(B) after Table-R, the following Table shall be inserted, namely:-

“Table-S

[For deposits made on or after the 1st April, 2012]

(C) in the Notes, in paragraph (2), for the word and letter “Table R”, the words and letters “Table R or Table S” shall be substituted.