Electronic mode of repayment: amendment empowers prescribing additional electronic methods under section 269T for certain loan and deposit repayments. Amendment substitutes 'bank account' with 'bank account or through such other electronic mode as may be prescribed,' empowering the Board to prescribe additional electronic modes for repayment of certain loans, deposits and specified advances otherwise required to be made by account payee cheque, account payee bank draft or electronic clearing system.
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Electronic mode of repayment: amendment empowers prescribing additional electronic methods under section 269T for certain loan and deposit repayments.
Amendment substitutes "bank account" with "bank account or through such other electronic mode as may be prescribed," empowering the Board to prescribe additional electronic modes for repayment of certain loans, deposits and specified advances otherwise required to be made by account payee cheque, account payee bank draft or electronic clearing system.
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