Post Office Monthly Income Accounts: limits raised to 4.5 lakh and 9 lakh; deposit limit increased to 1,500. The notification amends the Post Office (Monthly Income Account) Rules, 1987 by substituting monetary figures: in rule 4, 'three lakh' and 'six lakh' are replaced by four lakh fifty thousand and nine lakh; and in rule 5(1) 'one thousand', 'three lakh' and 'six lakh' are replaced by one thousand five hundred, four lakh fifty thousand and nine lakh, respectively; the amendments take effect on publication in the Official Gazette under Section 15 of the Government Savings Banks Act, 1873.
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Post Office Monthly Income Accounts: limits raised to 4.5 lakh and 9 lakh; deposit limit increased to 1,500.
The notification amends the Post Office (Monthly Income Account) Rules, 1987 by substituting monetary figures: in rule 4, "three lakh" and "six lakh" are replaced by four lakh fifty thousand and nine lakh; and in rule 5(1) "one thousand", "three lakh" and "six lakh" are replaced by one thousand five hundred, four lakh fifty thousand and nine lakh, respectively; the amendments take effect on publication in the Official Gazette under Section 15 of the Government Savings Banks Act, 1873.
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