This document is a notification from the Ministry of Finance, Department of Economic Affairs, Government of India, published in the Gazette of India on October 11, 2017. It announces the Post Office Savings Certificates Amendment Rules, 2017, which further amend the Post Office Savings Certificates Rules, 1960. The amendment, authorized under Section 12 of the Government Savings Certificate Act, 1959, introduces a definition of "Cooperative bank" to include State cooperative banks, Central cooperative banks, and primary co-operative banks. These rules came into effect on the date of publication of this notification. The notification number is G.S.R. 1234(E) and F. No. 11/32011-NS.II. The signatory is Prashant Goyal, Joint Secretary. The principal rules were initially published on June 25, 1960, and subsequently amended on January 24, 1990.
Key Entities Referenced
Ministry of Finance: The ministry responsible for this notification, specifically the Department of Economic Affairs.
Department of Economic Affairs: A department within the Ministry of Finance.
New Delhi: The city where the notification was issued.
Government Savings Certificate Act, 1959: The governing law under which the powers are exercised to amend the savings certificates rules.
Post Office Savings Certificates Rules, 1960: The rules being amended by this notification.
Post Office Savings Certificates Amendment Rules, 2017: The title of the amending rules established by this notification.
State cooperative bank: A type of cooperative bank as defined in the amendment.
Central cooperative bank: A type of cooperative bank as defined in the amendment.
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6150 GI/2017 (1)2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART II—SEC. 3(i)]
MINISTRY OF FINANCE
(Department of Economic Affairs)
NOTIFICATION
New Delhi, the 29th September, 2017
G.S.R.1234 (E).—In exercise of the powers conferred by section 12 of the Government Savings Certificate Act,
1959 ( 46 of 1959) , the Central Government hereby makes the following rules further to amend the Post Office Savings
Certificates Rules, 1960, namely: -
1. (1) These rules may be called the Post Office Savings Certificates (Amendment) Rules, 2017.
(2) They shall come into force on the date of their publication in the Official Gazette.
2. In the Post Office Savings Certificates Rules, 1960, in rule 2, after clause (iv), the following clause shall be inserted,
namely:
(iva) “Cooperative bank” means a State co-operative bank, a Central co-operative bank and a primary co-
operative bank;
[F. No. 1/13/2011-NS.II]
PRASHANT GOYAL, Jt. Secy.
Note:The Principal rules were published vide notification number F. 7(29)(ii)-NS/59 dated the 25th June, 1960 and
subsequently amended vide notification number F.8/1/90-NS dated the 24th January, 1990.
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and Published by the Controller of Publications, Delhi-110054.