Post Office (Monthly Income Account) rules amended: accounts may be opened in post offices or government authorised commercial banks. The rules amend the Post Office (Monthly Income Account) Rules, 1987 by substituting 'National Savings' for 'Post Office' in rule 1(1), adding a definition of 'Bank' as any government authorised public or private sector commercial bank branch in rule 2, and inserting a proviso in rule 4 that accounts may be opened in a post office or an authorised bank; amendments commence on publication in the Official Gazette.
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Post Office (Monthly Income Account) rules amended: accounts may be opened in post offices or government authorised commercial banks.
The rules amend the Post Office (Monthly Income Account) Rules, 1987 by substituting "National Savings" for "Post Office" in rule 1(1), adding a definition of "Bank" as any government authorised public or private sector commercial bank branch in rule 2, and inserting a proviso in rule 4 that accounts may be opened in a post office or an authorised bank; amendments commence on publication in the Official Gazette.
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