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EXTRAORDINARY
PART II —Section 3 —Sub-section ( i)
PUBLISHED BY AUTHORITY
No. 391] NEW DEL HI, THURSDAY, JULY 6, 2023/ASHADHA 15, 194 5
CG-DL-E-06072023-247115
...........................( पता)
MINISTRY OF FINANCE
(Department of Economic Affairs)
NOTIFICATION
New Delhi, the 3rd July 2023
G.S.R 488(E). —In exercise of the powers conferred by section 15 of the Go vernment Savings Promotion
Act, 1873 (5 of 1873), the Central Government hereby makes the following rules further to amend the Government
Savings Promotion General Rules, 2018, namely: -
1. Short title and commencement. – (1) These rules may be called the Gov ernment Savings Promotion General
(Second Amendment) Rules, 2023.
(2) They shall come into force on the date of their publication in the Official Gazette.
2. In the Government Savings Promotion General Rules, 2018 (hereinafter referred to as the “principal rules”), in rule
5, in sub -rule (2) after clause (b), the following proviso shall be inserted, namely: -
“Provided that, in case of account opened on behalf of a minor, recent passport size photograph of the
guardian only shall be submitted;”.
3. In the princ ipal rules, in rule 5 after sub -rule (6), the following sub -rule shall be inserted, namely: -
“(7) Change of name or surname may be allowed by the account office by following the procedure laid down by
Reserve Bank of India for change of name or surname in Bank Savings Account.” .
4. In the principal rules, in rule 8, for sub -rule (3), the following shall be substituted, namely: -
“ (3) An account opened as a Single Account cannot be subsequently converted into a Joint Account or vice
versa :
Provided that, conversion of Joint Account into single account shall be allowed only in case of a single surviving Joint
Account holder. ” .
5. In the principal rules, in rule 10, for sub -rule (4), the following shall be substituted, namely: -
“(4) In the eve nt of death of guardian or on order from any Court of Law in any case of change in the guardian,
the succeeding guardian shall be eligible to operate the account of the minor or the person of unsound mind as the case
may be. ” .
6. In the principal rules, in rule 13, in sub -rule (3), in clause (i), for the words “Account Opening Form,”, the
words “Account Opening Form or Certificate of non -availability of account opening form by the Account Office and
in such cases all the information appearing in account open ing form shall be verified by the transferor Accounts
Office,” shall be substituted.
7. In the principal rules, in rule 13, in sub -rule (3), in clause (vii), for the words “the Account”, the words “the
account in favour of transferee Accounts Office ” shall b e substituted.
8. In the principal rules, in rule 14, after sub -rule (8), the following sub -rule shall be inserted, namely: -
“(9) Non -resident Indians shall be eligible to be nominated as nominee subject to the condition that payment to such
nominee/s sha ll be on non -repatriation basis.” .
9. In the principal rules, in rule 15, for sub -rule (6), the following shall be substituted, namely: -
“(6) If a depositor dies and there is no nomination in force at the time of his death, and the probate of his will or le tters
of administration of estate or a succession certificate granted under the Indian Succession Act, 1925 (39 of 1925), or
legal heir certificate issued by the revenue authority not below the rank of Tahsildar having jurisdiction, is not
produced within six months from the date of death of the depositor to the Authorised Officer of the Accounts Office
where the account stands, then, -
(i) if the eligible amount in the account does not exceed Rupees five lakh, the Authorised Officer of the Accounts
Office or the authority specified by the Government Savings Bank to which the Accounts Office belongs, for reasons
to be recorded in writing, may pay the same to any person appearing to him as the rightful claimant and to his
satisfaction to be entitled to receiv e the amount or to administer the estate of the deceased, on an application in Form -
11 accompanied by the following documents; namely: -
(a) Death certificate of the account holder;
(b) Passbook or deposit receipt or statement of account in original;
(c) A ffidavit in Form -13;
(d) Letter of disclaimer in Form -14;
(e) Bond of Indemnity in Form -15; and
(f) Identity proof of the legal heir;
Provided further that, in case of any dispute raised before the Accounts Office and before the payment of claim, the
amount shall be paid by the Accounts Office to the claimant on submission of a succession certificate granted under
the Indian Succession Act, 1925 (39 of 1925) issued by the Court only along with the following documents; namely: -
(a) Claim form;
(b) Pass boo k or deposit receipt or statement of account in original;
(c) Death certificate of the account holder; and
(d) Identity proof of the legal heir.
(ii) if the eligible amount in a deceased account is above Rupees five lakh, the amount shall be paid by the A ccounts
office to the claimant on submission of the probate of his will or letters of administration of estate or a succession
certificate granted under the Indian Succession Act, 1925 (39 of 1925) issued by the Court, or legal heir certificate
issued by t he revenue authority not below the rank of Tahsildar having jurisdiction along with the following
documents; namely: -
(a) Claim form;
(b) Passbook or deposit receipt or statement of account in original;
(c) Death certificate of the account holder; and
(d) Identity proof of the legal heir;
Provided further that, in case of any dispute raised before the Accounts Office and before the payment of claim, the
amount shall be paid by the Accounts Office to the claimant on submission of a succession certificate g ranted under
the Indian Succession Act, 1925 (39 of 1925) issued by the court only along with the following documents; namely: -
(a) Claim form;
(b) Passbook or deposit receipt or statement of account in original;
(c) Death certificate of the account holde r; and
(d) Identity proof of the legal heir.”.
10. In the principal rules, in rule 15, after sub -rule (6), the following sub -rule shall be inserted, namely: -
“(7) Surviving nominees will have to submit any of the identity documents prescribed in rule 6 of the se rules.”.
11. In the principal rules, in rule 24, in sub -rule (1), for clause (a), the following shall be substituted, namely: -
“(a) Opening of Accounts, accepting deposits, making payments of interest and maturity or prematurity
proceeds, disbursa l of loan or withdrawal, closing and transferring accounts in conformity to these and scheme
provisions and maintaining records thereof; ” .
12. In the principal rules, in Schedule -I, under the heading “Forms to be used for operation of an account”, after
serial number 15 and entries relating thereto, the following shall be inserted, namely: -
“
“ .
13. In the principal rules, after FORM – 15, the following FORM shall be inserted, namely: -
“FORM -16
(See Rule 13 of Government Savings Promotion Rules, 2018)
To be issued by transferor account office
To
The Branch Manager/Post Master
___________________________(Name of Account Office)
____________________________( Address)
Subject: - Transfer of ___________________(Name of Scheme) account number_____________________ in the
name of________________________________(Name of account holder/s).
16. GSPR -16 To be issued by transferor Accounts Office
Sir,
It is certified that the account opening form for account No._________ ____ of__________________(Name
of Scheme) was maintained by this office with the following details:
1. Name of Account holder;
2. Name of Joint Holder(s) if any;
3. Address;
4. Scheme Name;
5. Account Number;
6. Date of opening;
7. Date of extension/s, opted by the account hol der; and
8. Name of nominee/s
It is further certified that the account opening form is not traceable and the transferee account office may obtain new
account opening form along with prescribed identification document.
Yours faithfully,
(Branch Manager/Pos t Master)
Name of Bank/Post Office.” .
[F. No. 1/4/2023 -NS]
ASHISH VACHHANI, Addl. Secy.
Note : The principal rules was originally published in the Gazette of India, Extraordinary, Part II, section 3, sub -
section (i) vide notification number G. S. R. 100 3 (E), dated the 5th October, 2018 and subsequently amended vide
number G.S.R. 238(E), dated the 31st March, 2023.
NOTIFICATION
New Delhi, the 3rd July 2023
G.S.R 489(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 Sc heme, further to amend the Post Office Savings
Account Scheme, 2019 , namely: -
1. Short title and commencement. – (1) This Scheme may be called the Post Office Savings Account ( Amendment )
Scheme, 2023.
(2) It shall come into force on the date of its publication in the Official Gazette.
2. In the Post Office Savings Account Scheme, 2019 (hereinafter referred to as the “principal scheme”) , in paragraph
3, in sub -paragraph (1), in clause (b), for the words “two adults jointly”, the words “ upto a max imum of three
adults in joint names ” shall be substituted.
3. In the principal scheme , in paragraph 4, for sub -paragraph (3), the following shall be substituted, namely: -
“(3) Withdrawals from the account for not less than fifty rupees may be made by pr esenting passbook along with
application for loan or withdrawal in Form -3 of the Government Savings Promotion General Rules, 2018 duly filled in
and signed. Withdrawals from the account may also be made subject to the availability of balance above minimum
prescribed limit by way of cheque or electronic means.” .
4. In the principal scheme , in paragraph 5, in sub -paragraph (5), for the words “in the end of the month”, the words “ till
the end of the month ” shall be substituted.
[F. No. 1/4/2023 -NS]
ASHISH VACHHANI, Addl. Secy.
Note : The Principal Scheme was published in the Gazette of India, Extraordinary, Part II, Section 3, Sub -section (i)
vide number G. S. R. 922(E) dated the 12th December, 2019 and subsequently amended vide number G.S.R. 257(E)
dated the 9th April, 2021.
NOTIFICATION
New Delhi, the 3rd July 2023
G.S.R 490(E). —In exercise of the powers conferred by section 3A of the Government Savings Promotion Act, 187 3
(5 of 1873), the Central Government hereby makes the following Scheme, further to amend the National Savings
(Monthly Income Account) Scheme, 2019, namely: -
1. Short title and commencement. - (1) This Scheme may be called the National Savings (Monthl y Income Account)
(Fourth Amendment ) Scheme, 2023.
(2) It shall come into force on the date of its publication in the Official Gazette.
2. In the National Savings (Monthly Income Account) Scheme, 2019, in paragraph 4, in sub -paragra ph (3), -
(a) for the words “four lakh fifty thousand”, the words “nine lakh” shall be substituted;
(b) for the words “nine lakh”, the words “fifteen lakh” shall be substituted.
[F. No. 1/4/2023 -NS]
ASHISH VACHHANI, Addl. Secy.
Note : The Principal Scheme was published in the Gazette of India, Extraordinary, Part II, Section 3, Sub -section (i)
vide number G. S. R. 917(E) dated the 12th December, 2019 and subsequently amended vide number G.S.R.286(E)
dated the 5th May, 2022, G.S.R. 839(E) d ated the 22nd November, 2022, G.S.R. 55(E) dated the 27th January, 2023,
G.S.R. 239(E) dated the 31st March, 2023 and G.S.R. 325( E) dated the 27th April, 2023.
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