Rounding of fractional savings deposits mandated; fractional entries must be rounded up to the next standard postal increment on deposit. The amendment to the Post Office Savings Account Rules, 1981 substitutes sub rule (7) of rule 5 to require that deposits not in multiples of the smallest published paise increment shall be rounded upward to the next integer of the five paise increment; the rule is made under statutory rule making power and comes into force on publication in the Official Gazette.
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.
Rounding of fractional savings deposits mandated; fractional entries must be rounded up to the next standard postal increment on deposit.
The amendment to the Post Office Savings Account Rules, 1981 substitutes sub rule (7) of rule 5 to require that deposits not in multiples of the smallest published paise increment shall be rounded upward to the next integer of the five paise increment; the rule is made under statutory rule making power and comes into force on publication in the Official Gazette.
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