Rulemaking power expanded to prescribe deposit interest, fees, modes, benchmarks, exclusions and grievance mechanisms under the savings banks framework. Amendment to section 15(2) omits clause (a) and substitutes clause (b) to permit rules on conditions as to interest or discount on deposits; substitutes clause (g) to permit rules on fees for services; and replaces clause (i) with provisions authorizing rules on limits and procedures under a related provision, modes of making deposits (including electronic means), benchmarks for interest rates to ensure scheme sustainability, exclusions for computing court fees for Act purposes, grievance redressal and dispute settlement mechanisms, and any other prescribed matters.
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Provisions expressly mentioned in the judgment/order text.
Rulemaking power expanded to prescribe deposit interest, fees, modes, benchmarks, exclusions and grievance mechanisms under the savings banks framework.
Amendment to section 15(2) omits clause (a) and substitutes clause (b) to permit rules on conditions as to interest or discount on deposits; substitutes clause (g) to permit rules on fees for services; and replaces clause (i) with provisions authorizing rules on limits and procedures under a related provision, modes of making deposits (including electronic means), benchmarks for interest rates to ensure scheme sustainability, exclusions for computing court fees for Act purposes, grievance redressal and dispute settlement mechanisms, and any other prescribed matters.
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