(Last Updated On: April 20, 2018)

Section 133 of Finance Act 2018

[Section 133 of Finance Act 2018 deals with Amendment of section 15 and is covered in CHAPTER VIII MISCELLANEOUS]

Amendment of section 15

133. In section 15 of the principal Act, in sub-section (2),—

(i)		clause (a) shall be omitted;
(ii)		for clause (b), the following clause shall be substituted, namely:—
		” (b) the conditions as to interest or discount relating to deposits generally, or any class of deposits in particular;”;
(iii)		for clause (g), the following clause shall be substituted, namely:—
		“(g) the fees that may be levied for discharge of any services under this Act;”;
(iv)		for clause (i), the following clauses shall be substituted, namely:—
		“(i) the limit and procedure under clause (a) of sub-section (4) of section 4A;
		(j) the mode of making deposits, such as physical, electronic or through use of any other tools of communication and information technology;
		(k) benchmark for interest rates on deposits with a view to ensure financial sustainability of Savings Schemes;
		(l) amount to be excluded in computing the court fee chargeable under the Court-fees Act, 1870 (7 of 1870) for the purpose of section 8 of the Act;
		(m) mechanism for redressal of grievances and settlement of disputes;
		(n) any other matter which is required to be or may be, prescribed.”.

Section 133 of Finance Act 2018 : Amendment of section 15