P.O. S.B. Manual Vol. III - India Post

84CHAPTER – 11THE KISAN VIKAS PATRA RULES, 1988GSR 370 (E) :- In exercise of the powers conferred by section 12 of Government Savings CertificatesAct, 1959 (46 of 1959), the Central Government hereby makes the following rules, namely:-1. Short title and commencement:- (1) These rules may be called the Kisan Vikas Patra Rules,1988.(2) They shall come into force on 1 st day of April, 19882. Definitions:- In these rules, unless the context otherwise requires,(i) “Act” means the Government Savings Certificates Act, 1959 (46 of 1959)(ii) “Cash” means the cash in Indian currency;(iii) “Certificate” means the Kisan Vikas Patra;(iv) “Post Office” means any departmental post office in India doing SavingsBank work;(v) “Identity Slip” means an identity slip issued to a holder of certificate underrule 9.(vi) Words and expressions used herein and not defined but defined in PostOffice Savings Certificate Rules, 1960 shall have the meanings respectively assigned to themin those rules.3. Application of Post Office Savings Certificate Rules, 1960:- The provisions of Post OfficeSavings Certificate Rules, 1960 so far as may be, apply in relation to matter for which no provision hasbeen made in these rules.4. Denomination of Certificates:- The certificates shall be issued in denominations of Rs.100,Rs.500, Rs. 1000, Rs. 5000, RS. 10,000, Rs. 50,000 and such other denominations as may be notified bythe Central Government from time to time.5. Purchase of Certificate:- Any number of certificates of the denominations specified in rule 4may be purchased.6. Types of certificates and issue thereof – (1) The certificates shall be of the following types,namely:-(a) Single Holder Type Certificates;(b) Joint ‘A’ Type Certificates; and(c) Joint ‘B’ Type Certificates;(2) (a) A Single Holder Type Certificate may be issued to:-(i) an adult for himself or on behalf of a minor or to a minor;(ii) Omitted.(b) A joint ‘A’ Type certificate may be issued jointly to two adults payable to both theholders jointly or to the survivor.(c) A joint ‘B’ Type certificate may be issued jointly to two adults payable to either of theholders jointly or to the survivor.(3) Non Resident Indians are not eligible to purchase the Kisan Vikas Patras:Provided that if a resident who subsequently becomes Non Resident Indian duringcurrency of the maturity period, shall be allowed to avail the benefits of the Patras on maturity on a nonrepatriationbasis.