Partial withdrawal payment channels are limited to bank or post office deposit at the member's option. Partial withdrawal sanctioned under paragraph 46 may be disbursed at the member's option by deposit into the payee's bank account in any Scheduled Bank or ... Summary
Partial withdrawal payment channels are limited to bank or post office deposit at the member's option.
Partial withdrawal sanctioned under paragraph 46 may be disbursed at the member's option by deposit into the payee's bank account in any Scheduled Bank or Co-operative Bank, including an Urban Co-operative Bank, or in a post office. The provision regulates the permitted modes of payment for such withdrawals and places the choice of receipt with the member, while limiting payment channels to the specified banking and postal institutions.
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