Post Office Monthly Income Account: interest rate reduced from 5% to 3.50%, effective on Gazette publication. The Central Government substitutes the figure and words '5 per cent' in rule 10 of the Post Office (Monthly Income Account) Rules, 1987 with '3.50 PER CENT.' The amendment, titled the Post Office (Monthly Income Account) (Second Amendment) Rules, 2003, is made under the Government Savings Banks Act and comes into force on publication in the Official Gazette.
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Provisions expressly mentioned in the judgment/order text.
Post Office Monthly Income Account: interest rate reduced from 5% to 3.50%, effective on Gazette publication.
The Central Government substitutes the figure and words "5 per cent" in rule 10 of the Post Office (Monthly Income Account) Rules, 1987 with "3.50 PER CENT." The amendment, titled the Post Office (Monthly Income Account) (Second Amendment) Rules, 2003, is made under the Government Savings Banks Act and comes into force on publication in the Official Gazette.
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