The undersigned is directed to say that vide memorandum no. 14/1/2020-NS dated 11.05.2020 & 15.05.2020 , Govt. of India, Ministry of Finance, Department of Economic Affairs (Budget Division) have informed the
followings in view of the prevailing COVID-19 situation:-
(A) Subcribers of RD Account who could not deposit the advance instalments to get the benefit of rebate during the lock down period may deposit the same up to 30.06.2020.
The rebate admissible as per the scheme provisions will be available at the time of deposit of advance instalments.
(B) Subscribers of the RD account may deposit the installment of May, 2020 in their RD Account till 30 June, 2020 and no revival fee (Default) shall be charged.
(C) If the account is to be continued as per Paragraph 7(2) of RD Scheme, 1981 or Paragraph 6(2) of RD Scheme, 2019 the same shall be done by the depositor till 30th June, 2020 by submitting the pending monthly installments. In such case, no default fee shall be charged for the period of March, April and May, 2020.
Accordingly necessary amendments are being made in Finacle. Non-CBS Post Offices should also take necessary action accordingly as per the above instructions.
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