Section 11(1) in The Kisan Vikas Patra Rules, 2014
(1)On an application being made in Form B by the transferor and the transferee, the Post Master or Bank Officer of the office of the registration may, at any time, permit the transfer of any Certificate as security to -(a)the President of India or Governor of a State in his official capacity;(b)the Reserve Bank of India or a Scheduled Bank or a Cooperative Society including a Cooperative Bank;(c)a Corporation or a Government company;(d)a local authority; and(e)a Housing Finance Company approved by the National Housing Bank and notified by the Central Government :Provided that the transfer of a Certificate purchased on behalf of a minor shall not be permitted under this sub-rule unless the parent or the guardian of the minor referred to in sub-clause (i) or as the case may be, sub-clause (ii) of clause (b) of section 5 of the Act, for the benefit of the minor.
