What happens in case of default on installment of a post office recurring deposit account (RDA)?
In event of defaults being more than five, the account will be treated as discontinued.10 Dec 2008
If there
are less than five defaults in monthly installments, the depositor can opt for extension
of the maturity period of the account by as many months as the number of
defaults and deposit the defaulted installment during the extended period.
In event
of defaults being more than five, the account will be treated as discontinued.