Post Office Time Deposit amendment removes fixed maximum tenure restriction, enabling unspecified longer deposit terms under amended rule. The amendment removes the phrase imposing a maximum-term limitation from rule 9 of the Post Office Time Deposit Rules, 1981, thereby withdrawing the regulatory ceiling on permissible time deposit tenure; the change is made under the rulemaking power of section 15 of the Government Savings Banks Act, 1873 and takes effect upon publication in the Official Gazette.
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Post Office Time Deposit amendment removes fixed maximum tenure restriction, enabling unspecified longer deposit terms under amended rule.
The amendment removes the phrase imposing a maximum-term limitation from rule 9 of the Post Office Time Deposit Rules, 1981, thereby withdrawing the regulatory ceiling on permissible time deposit tenure; the change is made under the rulemaking power of section 15 of the Government Savings Banks Act, 1873 and takes effect upon publication in the Official Gazette.
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