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Amendment in the Deposit Schemes for Retiring Employees of Government/Public Sector Companies, 1989 and 1991
New Delhi: August 16, 2004

Consequent to the introduction of Senior Citizens Savings Scheme, 2004 with effect from 2nd August, 2004, it is clarified that the interest on accumulations in the Deposit Scheme for Retiring Government Employees, 1989 and the Deposit Scheme for Retiring Employees of Public Sector Companies, 1991 will be dealt with in the following manner:-

Deposits in accounts which have matured on or before the 13th day of September, 2004, shall cease to earn any interest after the 13th day of September, 2004; and

Deposits in accounts maturing after the 13th day of September, 2004 shall also not earn any interest for the period after the date of their maturity.

Press Release: PIB
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