MINISTRY OF FINANCE
SAVINGS SCHEME NOTIFICATION
Dated: 11th July, 2014
G.S.R.494(E)....In exercise of the powers conferred by section 12 of the Government Savings Certificates Act, 1959 (46 of 1959), the Central Government hereby makes the following rules further to amend the National Savings Certificates (VIII Issue) Rules, 1989, namely:-
1. (1) These rules may be called the National Savings Certificates (VIII Issue) Amendment
2. In the National Savings Certificates (VIII Issue) Rules, 1989 (hereinafter referred to as the said rules), in rule 15,-
Note: The amount of interest accruing on a certificate of any other denomination shall be proportionate to the amount specified in the Table above".
3. In rule 16 of the said rules, in sub-rule (4),-
The Ministry of Finance, Department of Economic Affairs (Budget Division) vide its O.M. No.6-1/2011- NS.II (Pt.), dated the 11th November, 2011 has communicated to all concerned the various decisions taken by the Government on the recommendations of the Shyamala Gopinath Committee for comprehensive review of National Savings (NSSF). Accordingly, the rates of interests on various small savings schemes for the financial year 2014-15 revised with effect from 1st April, 2014, have been communicated vide its O.M. No. 6-1/2011-NS.II, dated the 4th March, 2014. It is certified that the interests of no deposit holder shall be prejudicially affected by the retrospective effect given to the notification.
Note: The principal rules were published vide number G.S.R. 496(E), dated the 1st May, 1989, and subsequently amended vide numbers G.S.R. 508(E), dated the 23rd May, 1990, G.S.R. 120(E), dated the 8th March, 1998, G.S.R. 7(E), dated the 1st January, 1999, G.S.R. 491(E), dated the 6th July, 1999, G.S.R. 47(E), dated the 15th January, 2000, G.S.R. 156(E), dated the 1st March, 2001, G.S.R. 572(E), dated the 2nd August, 2001, G.S.R. 163(E), dated the 1st March, 2002, G.S.R. 711(E), dated the 17th October, 2002, G.S.R. 179(E), dated the 1st March, 2003, G.S.R. 590(E), dated the 25th July, 2003, G.S.R. 591(E), dated the 25th July, 2003, G.S.R. 820(E), dated the 16th October, 2003, G.S.R. 289(E), dated the 13th May, 2005, G.S.R. 744(E), dated the 4th October, 2011 and G.S.R. 842(E), dated the 25th November, 2011, G.S.R. 318(E), dated the 25th April, 2013, G.S.R. 397(E), dated the 25th June, 2013 and G.S.R. 226(E), dated the 13th March, 2014.
TAXATION & WILDLIFE
Arbitration and Conciliation Act - When petitioner fails to comply with instructions issued from time to time and large number of discrepancies were found regarding quality of work and speed of rural electrification, decision of contractee PVVNL for terminating contract along with forfeiture of bank guarantees is justified: HC