SENIOR CITIZEN SAVINGS SCHEME (AMENDMENT) RULES, 2014
NOTIFICATION NO. GSR 492(E) [F.NO.6-1/2011-NS-II], DATED 11-7-2014
In exercise of the powers conferred by section 15 of the Government Savings Bank Act, 1873 (5 of 1873), the Central Government hereby makes the following rules further to amend the Senior Citizens Savings Scheme Rules, 2004, namely:—
1. (1) These rules may be called the Senior Citizen Savings Scheme (Amendment) Rules, 2014.
(2) They shall be deemed to have come into force on the 1st day of April, 2014.
2. In the Senior Citizen Savings Scheme Rules, 2004, in rule 7, in sub-rule (1), after the second proviso, following proviso shall be inserted, namely:—
“Provided also that in the case of a deposit made under these rules on or after the 1st day of April, 2014, it shall bear at the rate of 9.2 per cent per annum from the date of deposit.”