Amendment in Senior Citizens Savings Scheme (Amendment) Rules, 2012, Notification Issued On 25-4-2012

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 Senior Citizens Savings Scheme Rules, 2004, namely:—

1. (1) These rules may be called the Senior Citizens Savings Scheme (Amendment) Rules, 2012.

(2) They shall deemed to have come into force on the date of their publication in the Official Gazette.

2. In the Senior Citizens Savings Scheme Rules, 2004, in rule 7, in sub-rule (1), the following proviso shall be inserted, namely:—

“Provided that in the case of a deposit made under these rules on or after the 1st day of April, 2012, it shall bear interest at the rate of 9.3 per cent, per annum from the date of deposit.”

2 thoughts to “Amendment in Senior Citizens Savings Scheme (Amendment) Rules, 2012, Notification Issued On 25-4-2012”

  1. I HAVE A SENIOR CITIZEN SAVING A/C.WITH B.O.BARODA-15 LACS. THEY HAVE GIVEN ME RS.135000/INT.ONLY-2012-13.THEY ARE NOT GIVING ME RS.4500/ ADDITIONAL .3%int.-bank says we have not received it from govertment.WHERE SHOULD INQUIERE FOR THIS?
    THANKS

  2. Is the deduction upto Rs.100,000/- from gross income available under 80CC for this scheme for investment to be done this (13-14) year? If yes, what should be the period of deposit- 5years or 3 years or anything?
    The reply may please be given on my mail address.

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