Mahila Samman Savings Certificate, 2023. - G.S.R. 237 (E) - Indian Law

MINISTRY OF FINANCE (Department of Economic Affairs) NOTIFICATION New Delhi, the 31st March, 2023 G.S.R. 237 (E). In exercise of the powers conferred by section 3A of the Government Savings Promotion Act, 1873 (5 of 1873), the Central Government hereby makes the following Scheme, namely:- 1. Short title and commencement. (1) This Scheme may be called the Mahila Samman Savings Certificate, 2023. (2) It shall come into force on the date of its publication in the Official Gazette. 2. Definitions. (1) In this Scheme, unless the context otherwise requires,- (a) account means an account opened under this scheme; (b) account holder means a girl or women in whose name the account is held; (c) Act means the Government Savings Promotion Act, 1873 (5 of 1873); (d) Forms means a form appended to this scheme; (e) General Rules means the Government Savings Promotion General Rules, 2018; (f) year means a period of twelve months commencing from the date of deposit in the account. (2) Words and expressions used herein but not defined shall have the meanings respectively assigned to them in the Act and in the General Rules. 3. Application for opening an account. (1) An application for opening an account under this Scheme shall be made by a woman for herself, or by the guardian on behalf of a minor girl to the Account Office in Form - I, on or before the 31st March, 2025. (2) An account opened under this Scheme shall be a single holder type account. 4. Deposits. (1) An individual may open any number of accounts subject to the maximum limit for deposit specified in sub-paragraph (3) and a time gap of three months shall be maintained between the existing account and the opening of other account. (2) A minimum of one thousand rupees and any sum in multiples of one hundred rupees may be deposited in an account and no subsequent deposit shall be allowed in that account. (3) A maximum limit of two lakh rupees shall be deposited in an account or accounts held by an account holder. 5. Interest.- (1) The deposits made under this Scheme shall bear interest at the rate of 7.5 per cent. per annum. (2) Interest shall be compounded on quarterly basis and credited to the account. (3) The interest payable to the account holder in respect of any account opened or deposit made which is not in consonance with the provisions of this Scheme shall be payable at the rate applicable to the Post Office Savings Account. 6. Payment on maturity.- (1) The deposit shall mature on completion of two years from the date of the deposit and the Eligible Balance may be paid to the account holder on an application in Form-2 submitted to the accounts office on maturity. (2) In calculating the maturity value, any amount in fraction of a rupee shall be rounded off to the nearest rupee and for this purpose, any amount of fifty paisa or more shall be treated as one rupee and any amount less than fifty paisa shall be ignored. 7. Withdrawal from account.- (1) The account holder shall be eligible to withdraw maximum up to forty per cent. of the Eligible Balance once after the expiry of one year from the date of opening of the account but before the maturity of the account by making application in Form-3. (2) In case of an account opened on behalf of a minor girl, the guardian may apply for the withdrawal for the benefit of the minor girl by submitting the following certificate to the accounts office, namely:- Certified that the amount sought to be withdrawn is required for the use and welfare of Miss/Kumari .who is a minor girl and is alive on this ..the day of ..(month), (year). . (3) In calculating the withdrawal from the account, any amount in fraction of a rupee shall be rounded off to the nearest rupee and for this purpose, any amount of fifty paisa or more shall be treated as one rupee and any amount less than fifty paisa shall be ignored. 8. Premature closure of account.-( 1) The account shall not be closed before maturity except in the following cases, namely:- (a) on the death of the account holder; (b) where the post office or the Bank concerned is satisfied, in cases of extreme compassionate grounds such as medical support in life-threatening diseases of the account holder or death of the guardian, that the operation or continuation of the account is causing undue hardship to the account holder, it may, after complete documentation, by order and for reasons to be recorded in writing, allow premature closure of the account. (2) Where an account is prematurely closed under sub-paragraph (1), interest on principal amount shall be payable at the rate applicable to the Scheme for which the account has been held. (3) Premature closure of an account may be permitted, any time after the completion of six months from the date of opening of an Account on an application in Form-4, for any reason other than provided under sub-paragraph (1), and in which case the balance as stood from time to time in the account shall be eligible only for the interest rate less by two per cent. than the rate specified in this Scheme. (4) In calculating the maturity value, any amount in fraction of a rupee shall be rounded off to the nearest rupee and for this purpose, any amount of fifty paisa or more shall be treated as one rupee and any amount less than fifty paisa shall be ignored. 9. Agency charges payable to Department of Posts and authorised banks.- The following agency charges shall be paid for operation of this scheme: Sl. No. Type of transaction Charges payable (in rupees) (1) (2) (3) 1. Receipt Physical Mode 40 2. Receipt e-mode 9 3. Payments 6.5 paise per Rs.100 turnover 10. Application of General Rules.- The provisions of the General Rules shall, so far as may be, apply in relation to the matters for which no provision has been made in this Scheme. 11. Power to relax.- Where the Central Government is satisfied that the operation of any of the provisions of this Scheme causes undue hardship to the account holder, it may by order, for reasons to be recorded in writing, relax the requirements of that provision in a manner not inconsistent with the provisions of the Act. [F. No. 1/3/2023-NS] ASHISH VACHHANI, Addl. Secy. FORM - 1 [See paragraph 3(1)] Application for opening an account To The Postmaster/Manager Paste photograph of applicant Sir, I .[account holder/guardian] hereby apply for opening of an account under Mahila Samman Savings Certificate, 2023 in your Post Office/Bank. I tender herewith Rs /- (Rs ) in cash /Cheque/DD. No .date ..as initial deposit. My particular are as under:- 1. Name of First Depositor Name or the Guardian Date of Birth (DD / MM / YYYY ) (In words) . 2. Aadhaar Number of account holder .. 3. Permanent Account Number (PAN) of account holder .. 4. Present Address .. .. Permanent Address .. .. 5. Contact details Telephone No. .. Mobile No. .. Email ID .. 6. Type of Account Single or through Guardian for Minor .. 7. Details of date of birth of minor (Applicable in case of minor account) .. a) Certificate No. .. b) Date of Issue .. c) Issuing authority .. 8. Name of Guardian .. (In case the account is opened on behalf of a Minor) 9. Details of other KYC documents attached 1. Proof of identification .. 2. Address proof .. The following documents are accepted as valid documents for the purpose of identification and address proof: 1. Passport 2. Driving License 3. Voter s ID Card 4. Job Card issued by NREGA signed by the State Government officer 5. Letter issued by the National Population Register containing details of name and address; 10. My specimen Signatures 1. .. Name .. 1. .. Name .. 1. .. Name .. I hereby undertake to abide by the scheme provisions and Government Savings Promotion rules-2018 applicable on the Scheme and amendments issued thereto from time to time. Details of my/our other accounts under the Scheme are as under: S.No. Name of Scheme Date of opening of account Amount deposited Customer Identification Number Account number Name of Post office/Bank 1. Mahila Samman Savings Certificate, 2023 2. Mahila Samman Savings Certificate, 2023 A separate sheet may be taken in case of furnishing details of more accounts opened along with signature or thumb impression of account holder/guardian. Signature or thumb impression of account holder/guardian Date Nomination 11. I hereby nominate the person(s) mentioned below to whom to the exclusion of all other persons in the event of my death the amount standing to my credit in Mahila Samman Savings Certificate, 2023 at the time of my death would be payable. S.No. Name(s) of the nominee(s) and relationship Full address (s) Aadhaar number of nominee(optional) Date of birth of nominee in case of minor Share of entitlement Nature of entitlement Trustee or owner 1 2 3 4 As the Nominee(s) at Serial No.(s) ..specified above is/are minor(s), I appoint Shri/Smt./Kumari S/o,D/o,W/o ..Address ..to receive the sum due under the said account in the event of my death during the minority of the nominee(s). Signature or thumb impression of account holder/guardian 1. Signature of witness .. Name Address .. 2. Signature of witness .. Name Address .. Place: Date: Signature or thumb impression of account holder/guardian For use of Post Office/Bank The Account has been opened in the Name of ..on ..with deposit of Rs ..under Mahila Samman Savings Certificate, 2023 vide Account No.__________________________ dated______________________________ Customer identification Number Nomination has been registered vide No .dated Signature and seal of competent authority. FORM 2 [See paragraph 6(1)] Application for closure of account Name of Post Office/Bank__________________________ Date___________________ Account Number___________________________ 1. I hereby submit pass book/deposit receipt and apply for closure of my above mentioned account matured on_________________. 2. Please Credit the amount of eligible balance in my matured account to my SB Account no.________________________ standing at______________________(Name of Account office). or Please issue a Demand Draft/account payee cheque or Please pay in cash (applicable if the amount is below permissible limit). Certified, that the amount sought to be withdrawn to be availed is required for the use of .who is alive and still a Minor. Signature or thumb impression of account holder /guardian (Thumb impression should be attested by a person known to Accounts office) Payment Order (For office use only) Date ................................ Payment detail Principal amount Rs.____________________________________________ (+) Interest due Rs. _____________________________________________ (-) Recovery of overpaid interest Rs.__________________________________ Deduction if any Rs_____________________________________________ Total Amount due Rs_____________________________________________ Pay Rs.____________________(in figurers)_____________________________________(in words) Date Signature of Postmaster/Manager Acquittance (to be filled by depositor) Received Rs ._____________(In figures)______________________ (in words) By cash/cheque/DD bearing no ..dated ../by transfer to Account No............................... Date: Signature/thumb impression of account holder /guardian FORM 3 [See paragraph 7(1)] Application for withdrawal To The Postmaster/Manager .. .. Sir, I (account holder/guardian) hereby apply for withdrawal from my account as per details below:- Account Number:........................................................................................ Amount of withdrawal applied........................................................... 2. Please Credit the amount of withdrawal to my SB Account no.________________________ standing at______________________(Name of Account office). or Please issue a Demand Draft/account payee cheque or Please pay in cash (applicable if the amount is below permissible limit of cash payment). 3. I certify that all the provisions applicable under scheme for grant of withdrawal have been complied with. *Certified, that the amount sought to be withdrawn to be availed is required for the use of ..who is alive and still a Minor. Date:-______________ Signature or thumb impression of account holder/guardian ----------------------------------------------------------------------------------- (Thumb impression of the depositor should be attested by a person known to the accounts office) For office use only Payment detail Eligible balance in Account ._______________________________________ Less Penalty amount ._____________________________________________ (In words)________________________________________________________ Date Stamp Signature of Postmaster/Manager Acquittance (to be filled by account holder/ messenger) Received Rs ._____________(In figures)______________________ (in words) By cash/cheque/DD bearing No.)__________________dated_____________________________________________/by transfer to Account No______________________________________________. Date Signature/thumb impression of account holder/guardian FORM 4 [See paragraph 8(3)] Application for premature closure of account To The Postmaster/Manager .. .. Sir, 1. I wish to prematurely close Account No________________________ having balance of ____________________(Rupees______________________ Only) and request you to pay the amount after deduction of applicable penalty, as per details given below:- Please Credit the amount to my SB Account no.________________________ standing at___________________________________(Name of Account office). or Please issue a Demand Draft/account payee cheque or Please pay in cash (applicable if the amount is below permissible limit) 2. I hereby declare that the provisions under which the account can be closed before maturity have been complied with. *Certified, that the amount sought to be withdrawn to be availed is required for the use of ..who is alive and still a Minor. Date:-______________ Signature or thumb impression of account holder /guardian ----------------------------------------------------------------------------------- (Thumb impression of the depositor should be attested by a person known to the accounts office) For office use only Payment detail Eligible balance in Account ._______________________________________ Less Penalty amount ._____________________________________________ Total Amount to be paid .________________________________(In figures) (In words)________________________________________________________ Date Stamp Signature of Postmaster/Manager -------------------------------------------------------------------------------------- Acquittance (to be filled by account holder/ messenger) Received Rs ._____________(In figures)______________________ (in words) By cash/cheque/DD bearing No.)__________________dated_____________________________________________/by transfer to Account No______________________________________________. Date: Place: Signature/thumb impression of account holder /guardian