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Section 12: Withdrawal from an account

government saving promotion general rules, 2018Central Rules · 1873

(1) At the time of payment of maturity proceeds or partial withdrawal or interest, the depositor shall affix his signature or thumb impression in the presence of the authorised officer who shall verify the identity of the person.

36 THE GAZETTE OF INDIA : EXTRAORDINARY [PART II—SEC. 3(i)]

(2) In the case of an account opened on behalf of a minor or a person of unsound mind, any withdrawal during the minority or the lunacy of the depositor, as the case may be, shall be permitted to the guardian on furnishing a certificate:

“that the amount sought to be withdrawn is required for the use of Mr./ Ms.………………. who is minor or a person of unsound mind and is alive on this day”.

(3) Payment of partial withdrawal of the eligible amount or payment of interest may be made by any of the means specified in sub-rule (2) of Rule 19.

Where this provision sits

Actgovernment saving promotion general rules, 2018
Section12
Marginal noteWithdrawal from an account
JurisdictionCentral
StatusIn force as published by the source

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