Extreme hardship exception permits early repayment for senior depositors and nominees, allowing full deposit repayment with interest. The circular instructs that, under the second proviso to the repayment provision of the Compulsory Deposit Scheme Act, full repayment of the deposit with interest may be allowed where extreme hardship is shown; specifically, depositors who have attained senior age by the last day of the immediately preceding financial year and nominees of deceased depositors are to be treated as cases of extreme hardship qualifying for early repayment.
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.
Extreme hardship exception permits early repayment for senior depositors and nominees, allowing full deposit repayment with interest.
The circular instructs that, under the second proviso to the repayment provision of the Compulsory Deposit Scheme Act, full repayment of the deposit with interest may be allowed where extreme hardship is shown; specifically, depositors who have attained senior age by the last day of the immediately preceding financial year and nominees of deceased depositors are to be treated as cases of extreme hardship qualifying for early repayment.
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