Rule 303 lets a superannuation fund keep its moneys in a Post Office Savings Bank Account in India, a current or savings account with a scheduled bank, or use them for payments under an insurance scheme or to buy annuities under rule 307.
303
Rules 2026 · Rule 303
Investment of fund moneys (approved superannuation fund)
Rules 261-310
The rule (sub-rule 1). All moneys contributed to the fund, or received or accrued as interest or otherwise, may be (a) deposited in a Post Office Savings Bank Account in India; (b) deposited in a current account or a savings account with any scheduled bank; or (c) used, in accordance with rule 307, for payments under a scheme of insurance or for purchasing annuities. The PDF text of the Rules continues with a fragment referring to a notification of the Department of Financial Services dated 2 March 2015 as amended from time to time; the clause it belongs to is not legible in the source.