Amendment to National Savings Certificates allows electronic purchases and limits certificate transfers to a single authenticated transfer. Amendments permit purchase of National Savings Certificates by electronic mode at post offices on a Core Banking Solution platform; provide that a holder entitled to encash an old certificate may apply in Form 1 for a replacement certificate, with the date of issue fixed as the date the duly discharged old certificate is presented; and revise transfer formalities to require striking the previous holder's name, inscribing the new holder's name under the authorised Postmaster's signature, designation and date stamp, while allowing only a single transfer between issue and discharge.
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Provisions expressly mentioned in the judgment/order text.
Amendment to National Savings Certificates allows electronic purchases and limits certificate transfers to a single authenticated transfer.
Amendments permit purchase of National Savings Certificates by electronic mode at post offices on a Core Banking Solution platform; provide that a holder entitled to encash an old certificate may apply in Form 1 for a replacement certificate, with the date of issue fixed as the date the duly discharged old certificate is presented; and revise transfer formalities to require striking the previous holder's name, inscribing the new holder's name under the authorised Postmaster's signature, designation and date stamp, while allowing only a single transfer between issue and discharge.
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