Section 16 in National Savings Recurring Deposit Scheme, 2019
16. Procedure on the minor attaining majority.
(1)A minor on whose behalf an account has been opened may, on his attaining majority,-(a)continue the account for full maturity period, or the maturity period as extended under sub-paragraph (1) of paragraph 6, or for a further period under paragraph 10 or paragraph 11, as the case may be; or(b)if he does not continue the account any longer, claim proportionate amount as specified in sub-paragraph (1) of paragraph 9 on expiry of maturity period, or the amount due under sub-paragraph (2) of paragraph 10 or sub-paragraph (2) of paragraph 11, as the case may be.(2)The minor who exercises the option to continue the account under clause (a) of sub-paragraph (1) shall complete due diligence process and, give a declaration as follows:"I hereby declare that the General Rules and the National Savings Recurring Deposit Scheme, 2019 have been read by/to me and I accept the said rules and the scheme and all such amendments thereto as may be issued from time to time as binding on me".
