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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>Premature closure application for National Savings Monthly Income Account: Form 2 details, penalty deduction, and payout options</h1> Prescribes Form 2 as the prescribed application for premature closure of an account under the National Savings (Monthly Income Account) Scheme, 2019. The applicant must identify the account, state the balance, request payment after deduction of the applicable penalty, and select the mode of payment (credit to savings account, demand draft/account payee cheque, or cash within the permissible limit). The applicant must declare compliance with the scheme conditions for closure before maturity and attach required supporting documents; where the withdrawal relates to a minor, certification regarding the minor's status is provided. The accounts office must compute the eligible balance, quantify and deduct the penalty, record payment particulars, and obtain acquittance, enabling processing and settlement of premature closure claims.
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