8. Transfer from one branch of the scheduled bank to another
(1)A term deposit may be transferred from one branch of the scheduled bank from which it has been issued, to any other branch of the said bank, on the assessee making an application, at either of the two branches:Provided that no term deposit shall be transferred from one scheduled bank to another scheduled bank.(2)Every such application shall be signed by the holder of the term deposit receipt:Provided that in the case of joint holder type deposit, the application may be signed by one of the joint holders if the other is dead.
