130. Amendment of section 15.
In section 15 of the principal Act, in sub-section (2),-
(i) clause (a) shall be omitted;
(ii) for clause (b), the following clause shall be substituted, namely:––
‘‘(b) the conditions as to interest or discount relating to deposits generally, or any class of deposits in particular;”;
(iii) for clause (g), the following clause shall be substituted, namely:––
“(g) the fees that may be levied for discharge of any services under this Act;”;
(iv) for clause (i), the following clauses shall be substituted, namely:––
“(i) the limit and procedure under clause (a) of sub-section (4) of section 4A;
(j) the mode of making deposits, such as physical, electronic or through use of any other tools of communication and information technology;
(k) benchmark for interest rates on deposits with a view to ensure financial sustainability of Savings Schemes;
(l) amount to be excluded in computing the court fee chargeable under the Court-fees Act, 1870 (7 of 1870) for the purpose of section 8 of the Act;
(m) mechanism for redressal of grievances and settlement of disputes;
(n) any other matter which is required to be or may be, prescribed.”.
Notes on Clauses:
Clause 130 of the Bill seeks to amend section 15 of the Act which relates to power of the Central Government to make rules. It is proposed to amend sub-section (2) of the said section as a consequential amendment in view of amendments made in the Act.
