Legal tender modes for National Savings Certificate purchases include cash, instruments, passbook withdrawal, surrender and electronic payment. Rule 7 specifies that payment for purchase of a National Savings Certificate may be made to a post office by cash; by locally executed cheque, pay order or demand draft in favour of the postmaster; by presenting a signed withdrawal form with the Post Office Savings Bank passbook; by surrendering a matured old certificate discharged with an endorsement recording receipt through issuance of a fresh certificate; and, where the post office operates on Core Banking Solution, by any electronic mode.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Legal tender modes for National Savings Certificate purchases include cash, instruments, passbook withdrawal, surrender and electronic payment.
Rule 7 specifies that payment for purchase of a National Savings Certificate may be made to a post office by cash; by locally executed cheque, pay order or demand draft in favour of the postmaster; by presenting a signed withdrawal form with the Post Office Savings Bank passbook; by surrendering a matured old certificate discharged with an endorsement recording receipt through issuance of a fresh certificate; and, where the post office operates on Core Banking Solution, by any electronic mode.
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