In exercise of the powers conferred by section 15 of the Government Savings Banks Act, 1873 (5 of 1873), the Central Government hereby makes the following rules further to amend the Post Office (Monthly Income Account) Rules, 1987, namely:-
1. (1) These rules may be called the Post Office (Monthly Income Account) Amendment Rules, 2012.
(2) They shall deemed to have come into force on the 1st day of April, 2012.
2. In the Post Office (Monthly Income Account) Rules, 1987,—
(a) in rule 8, in sub-rule (1), after clause (i), the following clause shall be inserted, namely: –
“(j) 8.5 per cent per annum in respect of deposits made on or after the 1st day of April, 2012.”.