Amendment to Pradhan Mantri Garib Kalyan Deposit Scheme -Notification

By | January 21, 2017
(Last Updated On: January 21, 2017)

As per the following Notification now Co operative Banks can not accept Deposits under Pradhan Mantri Garib Kalyan Deposit Scheme 2016


MINISTRY OF FINANCE

(Department of Economic Affiairs)

NOTIFICATION

New Delhi, the 19th January, 2017

Amendment to Pradhan Mantri Garib Kalyan Deposit Scheme,Notification No S.O. 4061 (E)

S.O. 204(E).— In exercise of the powers conferred by clause (c) of section 199B of the Finance Act, 2016 (28 of 2016) (hereinafter referred to as the Act), the Central Government hereby amends the conditions specified in clause 7 of the Pradhan Mantri Garib Kalyan Deposit Scheme notified vide Notification No. S.O.4061 (E). dated December 16, 2016.

2. In place of clause 7 (1) of the said notification the following shall be substituted:

“7. Authorised banks.—(1) Application for the deposit in the form of Bonds Ledger Account shall be received by any banking company, other than Cooperative Banks, to which the Banking Regulation Act, 1949 (10 of 1949) applies”.

By Order of the President of India,

[ F. No.3(1)-W&M/2016]

PRASHANT GOYAL, Jt. Secy

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