law: The Government Savings Promotion Act, 1873
  3A. Framing of Savings Schemes.-
  (1) The Central Government may, by notification in the Official Gazette, frame new Savings Schemes or amend or discontinue existing Savings Schemes to promote household savings in the country.
  (2) The Central Government may, by notification in the Official Gazette, include or omit or amend Savings Schemes in the Schedule.
  (3) The notification referred to in sub-section (1) may include any or all of the following provisions, depending on the design of such Scheme, namely:-
  (a) the persons who shall be eligible to make deposit in a Savings Scheme;
  (b) the terms and conditions subject to which deposit may be made;
  (c) the manner of calculation, frequency of payment and rate of interest payable on the deposit;
  (d) the maximum and minimum limits of deposit;
  (e) premature closure, withdrawal of deposit, grant of loans against deposit and transfer of deposit;
  (f) any other provision depending on the purpose and design of the Savings Scheme.