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REGISTERED No. D-(D)-72

The Gazette of India

EXTRAORDINARY

PART I—Section I

PUBLISHED BY AUTHORITY

No. 176] NEW DELHI, MONDAY, JULY 29, 1974/SRAVANA 7, 1896

Separate paging is given to this Part in order that it may be filed

as a separate compilation

MINISTRY OF FINANCE

(Department of Economic Affairs)

NOTIFICATIONS

New Delhi, the 29th July 1974

No. F. 2(17)-NS/74(v).—The President hereby makes the following rules further to amend the Post Office (Time Deposits) Rules, 1970, published with the notification of the Government of India in the Ministry of Finance (Department of Economic Affairs) No. 3(7)-NS/70, dated the 28th February, 1970, namely:

1. (1) These rules may the called the Posit Office Time Deposits (Second Amendment) Rules, 1974.

(20 They shall be deemed to have come into force on the 23rd day of July, 1974.

2. In the Post Office (Time Deposits) Rules, 1970, for the Tables below rule 11, the following Tables shall be substituted, namely:—

"TABLE 'A' (for deposits made before the 1st April, 1974)

Period

1 Year 2 Years 3 Years 5 Years

Rate of interest per annum 6 per cent. 7 per cent. 7 per cent. 7¼per cent.

(1061)

1062 THE GAZETTE OF INDIA EXTRAORDINARY [PART I—SEC. 1}~

TABiJS 'B' (for deposits made on or after the 1st April, 1974, but before the 23rd July, 1974)

Period

1 Year 2 Years 3 Years 5 Years Rate of interest per annum 6| per cent. 7i per cent. 7i per cent. Si per cent.

TABLE 'C (for deposits made on or after the 23rd July, 1974)

Period 1 Year 2 Years 3 Years 5 Years Rate of interest per annum 8 per cent. 8i per cent. 9 per cent. • 10 per cent.

Note.—Any deposits made before the 23rd July, 1974 and not matured on that date, shall also be eligible for higher rate of interest as specified in Table 'C for¹ the Deriod commencing on the 23rd July, 1974 and ending with the date of maturity of the deposit."

TIPART I—SEC. 1] THE GAZETTE OF INDIA EXTRAORDINARY 1063

No. P. 2(17)-NS/'J4-(vi).—The President hereby makes the following rules further to amend the Post Office savings Bank (Cumulative Time Deposits) [Rules 1959, published with 1he notification of the Government of India in the Ministry of Finance (Department of Economic Affairs) No. F. 3(10)-NS/58, dated the 19th December, 1958, namely:—

1. (1) These rules may be called the Post Office Savings Bank (Cumulative Time Deposits) (Second Amendment) Rules, 1974.

(2) They shall be deemed to have come into force on the 23rd day of July, 1974. 2. In rule 8A of the Post Office Savings Bank (Cumulative Time Deposits) Rules, 1959 (hereinafter referred to as the said rules) for sub-rule (5), the following sub-rule shall be substituted, namely: —

"(5) Accounts opened before the 23rd July, 1974 but maturing after the said date shall, in addition to the amount specified in these rules, be entitled to such amounts of bonus as may be notified by the Government."

3. After rule 8E of the said rules, the following rule shall be inserted, namely: —

"3-F. Amounts repayable on accounts opened on or aifter the 23rd July, 1974.—The amounts payable inclusive of interest at the end of the term in a 10-Year account for each demomination of deposits shall be as specified in Table I-H annexed to these rules. In the event of the accounts being discontinued before the expiry of the full period such proportionate amounts as may be notified by the Government shall only be payable at the end of the period."

I06A THE GAZETTE OF INDIA EXTRAORDINARY [PART I—SEC. 1_(

4. After Table l.G annexed to the suirl rules, the following Table shall be substituted, namely: —

"TABLE I-H

(Sue rule 8-F)

Denomination

Maturity value

Rs.

K25

1,650

3.300

8,250

100

16,500

200

33.000 82,500

Soo

The maturity value for accounts of other denominations specified in rule 5 shall be in proportion to maturity values set out above."

[PART I—SEC, 1] THE GAZETTE OF INDIA EXTRAORDINARY 10G5

No, F, 2(17)-NS'74-(vii).—The President hereby makes the following rulea further to amend the Post' Oifice (Recurring Deposits) Rules, 1970, published with the. notification of the Government of India in the Ministry of Finance (Depart- ntcnt of Economic Affairs) No, F. 3(8)-NS/70¹, dated the 28th February, 197ft, namely:-

1. (1) These luies may be called the Pout Office (Recurring Deposits) (Second Amendment) Rules, 1974.

(1) They shall be deemed to have crime into force on the 23rd day of. July, 187-4.

2. In the Post Office (Recurring Deposits) Rules. 1970, for rule !>. the following

rule Khali lie substituted, namely:—

"9. Amount p-ayahle.—The amount payable inclusive of interest at the end

IO66 THE GAZETTE OF JMDIA EXTRAORDINARY ' F - ^T r~ysc. I'i

PBXNTBD "* T H* MAMACKR, GQVJCBNMKNT QF INDIA PBS&3, JVTOJTO BOAK, MKW MKLHI AND PITBLISHKB BY THE CONTROLtlR OF PUBUCATIONS, DKLBI, 1 6 74

notified by tln.» Government." E. MA1THREYAN, Jt. Secy. ↩