MINISTRY OF FINANCE
(Department of Economic Affairs)
NOTIFICATION
New Delhi, the 29th March, 2016
G.S.R. 355 (E). – In exercise of the powers conferred by section 15 of the Government Savings Bank Act, 1873 (5 of 1873), the Central Government hereby makes the following rules further to amend the Post Office Recurring Deposit Rules, 1981, namely:-
1. (1) These rules may be called the Post Office Recurring Deposit (Amendment) Rules, 2016.
(2) They shall deemed to have come into force on the 1st day of April, 2016.
2. In the Post Office Recurring Deposit Rules, 1981 (hereinafter referred to as the said rules), in rule 9,—
(a) in the Schedule under clause (a) of sub-rule 1, for the last entries, the following entries shall be substituted, namely:-
“From 1.4.14 to 3 1.3.2016 (both dates inclusive) …. 746.53
From 1.04.2016 onwards …. 726.97”.
(b) in the schedule under clause (a) of sub-rule (2), for the last entry, the following entries shall be substituted, namely:-
“From 1.4.14 to 3 1.3.2016 (both dates inclusive) …. 746.53
From 1.04.2016 onwards …. 726.97”.
3. In rule 10 of the said rules, in sub-rule (2), in items (a) and (c), for the words and figures “Tables 1, 2, 11, 13, 17, 20, 22, 26, 29, 32, 35, 38, 41, 44, 47,50 or 53, the figures and words “Tables 1, 2, 11, 13 17, 20, 22, 26, 29, 32, 35, 38, 41, 44,47, 50, 53 or 56” shall be substituted.
4. In rule 11 of the said rules, in sub-rule (2), in items (b) and (c), for the words and figures “Tables 3, 4, 12, 14, 18, 21, 23, 27, 30, 33, 36, 39, 42, 45, 48, 51, or 54”, the words and figures “Tables 3, 4, 12, 14, 18, 21, 23, 27, 30, 33, 36, 39, 42, 45, 48, 51, 54 or 57” shall be substituted.
5. In rule 12 of the said rules,-
(a) in sub-rule (1), in item (b), in sub-item (ii), for the words and figures “Tables 5, 6, 7, 8, 9 10, 15, 16, 19, 24, 25, 28, 31, 34, 37, 40, 43 ,46, 49, 52 or 55 ”, the words and figures “Tables 5, 6, 7, 8, 9, 10, 15, 16, 19, 24, 25, 28, 31, 34, 37, 40, 43, 46, 49, 52,55 or 58” shall be substituted.
(b) in sub-rule (3) and sub-rule (4), for the words and figures “Tables 5, 6, 7, 8, 9, 10, 15, 16, 19, 24, 25, 28, 31, 34, 37, 40, 43, 46, 49, 52,or 55”, the words and figures “Tables 5, 6, 7, 8, 9, 10, 15, 16, 19, 24, 25, 28, 31, 34, 37, 40, 43, 46, 49, 52, 55 or 58” shall be substituted.
6. After Table 55 of the said rules, the following Tables shall be inserted, namely:-
TABLE 56 (See Rule 10)
Amount, inclusive of interest, payable on an account opened on or after the 1st day of April, 2016 and continued, with monthly deposits, beyond the maturity period or maturity period as extended under sub-rule (1) of rule 7.
| Number of completed years for which the account continued |
Amount (Rupees) repayable on an account of Rs. 10 denomination |
| One year | 907.17 |
| Two years | 1101.07 |
| Three years | 1309.73 |
| Four years | 1534.27 |
| Five years | 1775.88 |
Note: The amount repayable on an account of any other denomination shall be proportionate to the amount specified above.
TABLE 57 (See Rule 11)
Amount, inclusive of interest, repayable on an account opened on or after the 1st day of April, 2012 and continued, without any fresh monthly deposits, beyond the maturity period or maturity period as extended under sub-rule (1) of rule 7.
| Number of completed years for which the account continued |
Amount (Rupees) repayable on an account of Rs. 10 denomination |
| One year | 782.28 |
| Two years | 841.79 |
| Three years | 905.84 |
| Four years | 974.75 |
| Five years | 1048.91 |
Note: The amount repayable on an account of any other denomination shall be proportionate to the amount specified above.
TABLE 58 (See Rule 12)
Amount, payable to legal heir or nominee on the death of the depositor in a Five Year Recurring Deposit Account opened on or after the 1st day of April, 2016.
| Number of deposits made | Amount (Rupee) for denomination of Rs. 10 |
No. of deposits made | Amount (Rupees) for denomination of Rs. 10 |
| 1 to 11 | Deposits made | 36 | 403.90 |
| 12 | 124.89 | 37 | 416.43 |
| 13 | 135.72 | 38 | 429.05 |
| 14 | 146.61 | 39 | 441.74 |
| 15 | 157.57 | 40 | 454.51 |
| 16 | 168.60 | 41 | 467.35 |
| 17 | 179.69 | 42 | 480.28 |
| 18 | 190.85 | 43 | 493.28 |
| 19 | 202.08 | 44 | 506.37 |
| 20 | 213.38 | 45 | 519.53 |
| 21 | 224.75 | 46 | 532.78 |
| 22 | 236.19 | 47 | 546.11 |
| 23 | 247.70 | 48 | 559.51 |
| 24 | 259.28 | 49 | 573.00 |
| 25 | 270.93 | 50 | 586.58 |
| 26 | 282.65 | 51 | 600.23 |
| 27 | 294.45 | 52 | 613.97 |
| 28 | 306.31 | 53 | 627.80 |
| 29 | 318.25 | 54 | 641.71 |
| 30 | 330.26 | 55 | 655.70 |
| 31 | 342.35 | 56 | 669.78 |
| 32 | 354.51 | 57 | 683.95 |
| 33 | 366.74 | 58 | 698.20 |
| 34 | 379.05 | 59 | 712.54 |
| 35 | 391.44 | 60 | 726.97 |
Note: The amounts shall be proportionate for other denominations.
[F. No. 1/04/2016-NS-II]
PRASHANT GOYAL,Jt. Secy.
Note : The Principal rules were published vide G. S. R. 666(E), dated the 17th December, 1981, and subsequently amended vide: – G.S.R. 301(E), dated the 1st April, 1982, G.S.R. 258(E), dated the 11th March, 1983, G.S.R. 62(E), dated the 14th February, 1984, G.S.R. 95(E), dated the 7th February, 1986, G.S.R. 194(E), dated the 13th February, 1986, G.S.R. 363(E), dated the 1st April, 1987, G.S.R. 39(E), dated the 16th January, 1988, G.S.R. 458(E), dated the 15th April, 1988, G.S. R. 708(E), dated the 21st July, 1989, G.S.R. 16(E), dated the 9th January, 1990, G.S.R. 190(E), dated the 27th March, 1991, G.S.R. 579(E), dated the 12th September, 1991, G.S.R. 918(E), dated the 11th December, 1992, G.S.R. 42(E), dated the 1st February, 1993, G.S.R. 587(E), dated the 2nd September, 1993, G.S.R. 2(E), dated the 1st January, 1999, G.S.R. 748(E), dated the 4th November, 1999, G.S.R. 44(E), dated the 15th January, 2000, G.S.R. 152(E), dated the 1st March, 2001, G.S.R. 160(E) dated the 1st March, 2002, G.S.R. 514(E), dated the 23rd July, 2002, G.S.R. 662(E), dated the 23rd September, 2002, G.S.R. 175(E), dated the 1st March, 2003, G.S.R. 588(E), dated the 25th July, 2003, G.S.R. 838 (E), dated the 27th December, 2004, G.S.R. 480(E), dated the 26th June, 2008 and G.S.R. 740(E), dated the 4th October, 2011 and G.S.R. 843(E), dated the 25th November, 2011, G.S.R. 320( E), dated the 25th April, 2012, G.S.R. 398 ( E), dated the 25th June, 2013, G.S.R. 221 ( E), dated 13th March, 2014 and 491 (E), dated the 11th July, 2014.
