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[Cites 0, Cited by 0] [Section 4] [Entire Act]

Union of India - Subsection

Section 4(6) in Post Office Savings Account Scheme, 2019

(6)If the account holder fails to make such deposit within the specified period, an account maintenance fee of one hundred rupees shall be deducted from the account on the last working day of each financial year and after deduction of the account maintenance fee, if the balance in the account becomes nil, the account shall stand automatically closed and the account holder shall be notified accordingly. This provision shall be applicable to all accounts including Silent Account.