Default treatment for defence personnel recurring deposits allows limited maturity extensions; discontinuance and constrained revival follow repeated defaults. Amendment adds provisos to Rule 7(2) of the Post Office (Recurring Deposit) Rules, 1981, permitting personnel of Defence Services (excluding Civilian Defence Employees) with defaults up to a defined threshold to extend the maturity by months equal to the defaults and deposit missed installments during the extension; if defaults exceed that threshold the account is treated as discontinued and may be revived only within a short period from the relevant default month, subject to payment of interest and all defaulted installments.
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Provisions expressly mentioned in the judgment/order text.
Default treatment for defence personnel recurring deposits allows limited maturity extensions; discontinuance and constrained revival follow repeated defaults.
Amendment adds provisos to Rule 7(2) of the Post Office (Recurring Deposit) Rules, 1981, permitting personnel of Defence Services (excluding Civilian Defence Employees) with defaults up to a defined threshold to extend the maturity by months equal to the defaults and deposit missed installments during the extension; if defaults exceed that threshold the account is treated as discontinued and may be revived only within a short period from the relevant default month, subject to payment of interest and all defaulted installments.
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