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of <h1>Finance Act 2018 amends Section 12 of Government Savings Banks Act 1873; clarifies terminology and payment recipients.</h1> Section 12 of the Government Savings Banks Act, 1873, has been amended by the Finance Act, 2018. The amendments include replacing the word 'Bank' with 'Government Savings Bank,' substituting 'any proper person' with 'guardian,' and changing 'such person' to 'such guardian.' Additionally, the phrase 'nothing in this section authorises payments to any person other than' is replaced with 'payments shall be made to.' These changes clarify the terminology and the designated recipients of payments under the Act.
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