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Issuance of interest certificate for National Savings Certificate – DoP

admin — Mon, 28 Aug 2023 07:38:28 +0000

NSC – Issuance of interest certificate for National Savings Certificate – SB Order No. 17/2023

SB Order No. 17/2023

No. FS-10/2 7/2020 -FS-DOP
Government of India
Ministry of Communications
Department of Posts
(Financial Services Division)

Dak Bhawan, New Delhi – 110001
Dated: 24.08.2023

To
All Head of Cireles / Regions

Subject: Issuance of interest certificate for National Savings Certificate – Reg.

Madan / Sir,

It has been noticed that many grievances are received in this office in connection with the non-issue of interest certificate By the post offices on the bases of the annual accrual of interest.

2. In accordance with the Rule 5(3) of NSC scheme 2019, “A certificate of annual accrual of interest shail be issued by the accounts office, on demand, to the account holder”.

3. At present, interest certificates are to be issued by the post offices by generating from Finacle. However, there is no provision in Finacle to generate interest certificate on the basis of accrual of annual interest and hence the same is to be prepared manually for issue to the depositors on demund, in respect of NSC. A proforma, in which the certificate of annual accrual of interest certificate is, to be issued by the post offices is attached herewith.

4. The Annual Accrual Interest Tables are available on India Post Website which may be referred by the post offices, for calculation of annual accrual of interest in case of NSCs.

5. Hence, till the provision is made in Finacle for generation of interest certificate on accrual of annual interest basis, post offices should issue the interest certificate in the proforma attached herewith.

6. It is requested to circulate to all the offices concerned for information, guidance and necessary action.

7. This is issued with the approval of the Competent Authority.

Yours faithfully

Enel: As Above.

(T C VIJAYAN)
Assistant Director (SB-I)

DEPARTMENT OF POSTS

CERTIFICATE OF ANNUAL ACCRUAL OF INTEREST
ON NATIONAL SAVINGS CERTIFICATE (NSC)

TO WHOMESOEVER IT MAY CONCERN

This is to certify an amount of ₹ _____ has accrued as interest for the year _____ on National Savings Certificate (VIII Issue and IX Issue) particularized below standing in the name of Shri/Smt. ________ at this post office.

Sl. No.	Savings Certificate Number / NSC Account Number	Date of Issue / Date of opening of account	Deposit Amount in ₹	Interest accrued in ₹




	Total

Date Stamp of Post Office

Signature of Postmaster/ Sub Postmaster

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Quick settlement of deceased claim cases of National Savings Schemes

admin — Mon, 09 Jan 2023 14:44:42 +0000

Settlement of deceased NSC claim cases

SB Order No. 01/2023

No. 113-02/2019-SB
Government of India
Ministry of Communications
Department of Posts
(Financial Services Division)

Dak Bhawan New Delhi-110001
Dated: 09/01/2023.

To,

All Head of Circles/Regions,

Subject: – Regarding quick settlement of deceased claim cases of National Savings Schemes.

Sir/Madam,
This is with reference to SB Order No. 31/2020 dated 28/08/2020, Addendum to SB Order No. 31/2020 dated 16/09/2020 and 36/2020 dated 06/11/2020 in which revised procedure and timeline for settlement of deceased claim cases were circulated. Further, instructions on speedy settlement of deceased claim cases were issued vide this office even letter no. dated 26.07.2022.

2. It has been observed that many post offices are not following prescribed procedures and timeline for settlement of deceased claim cases. The common irregularities noticed are mentioned below: –

a) Although issuance of a separate sanction memo by the Head Post Offices/Sub Post Offices (operative offices) has been discontinued w.e.f. 01.01.2011 vide SB Order No. 25/2010 dated 25.12.2010, still a separate sanction memo is being issued at the post office level (HO/SO).
b) Sending sanction memo to claimant through Registered post by the Head Post Offices/Sub Post Offices.
c) Verification of claim cases through PRI (P)/SDI (P).
d) Abnormal delay in settlement of deceased claim cases.

3. It is emphasized that the procedures prescribed in SB Order No. 31/2020 and 36/2020 have to be re-iterated to the field units. Post offices shall have to ensure settlement of deceased claim cases within the timeline prescribed. Further, Head Post Offices/Sub Post Offices should be sensitized to adhere the following guidelines for timely settlement of deceased claim cases: –

(a) At the time of receipt of deceased claim case/ KYC documents, the KYC document(s) of claimant shall be verified with the original KYC documents.
(b) If signature of witnesses is available on copy of the KYC documents, physical presence of witnesses is not required.
(c) The claimant(s) should be sensitized to provide his/her Bank Account/ PO Savings Account detail at the time of submission of decease claim case for transfer of payment and obtain Account Detail/signature on acquittance portion, so that nominee(s)/claimant(s) need not visit post office again to get the payment through cheque.
(d) No separate sanction memo is to be issued by Sub Post Office/Head Post Office for settlement of deceased claim cases. SPM/PM shall sanction the claim on the second part of Form-11 which 1s prescribed as ‘For Office Use Only’.
(e) Once a deceased claim case is received with complete documents, further verification through PRI (P)/SDI (P) is not required.
(g) All post offices shall ensure settlement of deceased claim cases as per prescribed timeline/norms i.e. one working day where nomination exists and seven working days in other cases.

This issues with the approval of the competent authority.

Yours Faithfully
Sd/-
(Devendra Sharma)
Assistant Director (SB-II)

Settlement of deceased NSC claim cases

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online account opening and closure through DOP Internet Banking for National Savings Certificates and Kisan Vikas Patra

admin — Thu, 18 Aug 2022 17:41:31 +0000

DOP Internet Banking

online account opening and closure for NSC (VIII Issue) and Kisan Vikas Patra (KVP) have been introduced.

SB Order No. 13/ 2022

F. No. FS-13/7/2020 -FS
Government of India
Ministry of Communications
Department of Posts
(FS Division)

Dak Bhawan, New Delhi-110001
Dated: 18.08.2022

To,
All Head of Circles / Regions

Subject: Regarding introduction of the online account opening and closure through DOP Internet Banking for National Savings Certificates (VIII Issue) and Kisan Vikas Patra.

Madam / Sir,

During the auspicious occasion of ‘Azadi ka Amrit Mahotsav’, the undersigned is directed to say that online account opening and closure for National Savings Certificates (VIII Issue) (NSC) and Kisan Vikas Patra (KVP) have been introduced in DOP Internet Banking. Now users of DOP Internet Banking can open and close NSC and KVP online.

2. The option for opening and closing of National Savings Certificates (VIII Issue) Kisan Vikas Patra is available under the ‘General Services’ tab of DOP Internet Banking. Internet Banking user should follow the below prescribed procedure for opening and closure of NSC/KVP:

(a) Procedure for opening of NSC/KVP: –

Login into DOP Internet Banking
‘General Services’
‘Service Requests’
‘New Requests’
NSC Account – Open a NSC Account (For NSC) and KVP Account – Open a KVP Account (For KVP)
Deposit Amount (Enter Amount for which NSC to be opened minimum & 1000 and in multiple of = 100)
Debit Account (Select linked PO Saving Account)
Click on ‘Click Here’ to read terms and conditions and accept terms and conditions
Submit online
Enter Transaction Password
Submit.
View/Download Deposit Receipt.

Note: – (i) Log in again to view the details of NSC opened under ‘Accounts’.
(ii) NSC will be opened in the name of DOP Internet Banking user and nominee will be same as registered in linked PO Savings Account.

(b) Procedure for Closure of NSC/KVP: –

Login into DOP Internet Banking
General Services
Service Requests
New Requests
Closure of NSC Account (For NSC) and Closure of KVP Account (For KVP)
Deposit Account (Select NSC account/KVP Account to be closed)
Credit Account (Select linked PO Saving Account)
Submit online
Enter Transaction Password
Submit.
View/Download Closure Receipt.

Note: (i) Logout and login again to view the details of NSC closed Accounts.
(ii) NSC/KVP purchased on or after 01.07.2016 (i.e. in the form of passbook) can be closed under this option.
(iii) NSC/KVP issued prior to 01.07.2016 in the form of savings certificates are to be closed at the post office concerned.
(iv) Internet Banking user should check maturity date and maturity amount in the closure screen before submitting the request. In case of KVP, if date of closure is prior to maturity date, closure will be treated as premature and closure proceeds will be as per the Scheme Rule.

3. It is requested to circulate these instructions to all post offices for information and guidance. Adequate promotion of this functionality is to be given for the benefit of POSB customers.

4. Hindi version of this SB order will be issued in due course.

5. This issues with the approval of the competent authority.

Yours Sincerely,

(Devendra Sharma)
Asst. Director (SB-IT)

Download the online account opening and closure through DOP Internet Banking for NSC (VIII Issue) and KVP PDF

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Extension of MIS/ SCSS/ KVP/ NSC/ PPF schemes up to GDS Branch Post Office level through cheque

admin — Sun, 26 Jul 2020 16:30:21 +0000

S.B. Order 27/2020

e.F.No. FS-13-01/2020-FS
Government of India
Ministry of Communication
Department of Posts
(FS Division)

Dak Bhawan,
New Delhi-1 10001

Dated :- 23/07/2020

To,

All Head of Circles/Regions,

Subject:- Regarding extension of MIS/ SCSS/KVP/ NSC/ PPF schemes up to GDS Branch Post Office level through cheque.

Sir/Madam,

The references have been received in this office from time to time to provide MIS/ SCSS/ NSC/ KVP/ PPF schemes in GDS Branch Post Offices. The matter has been examined in detail in the light of Rule 3 (a) of “Government Savings Promotion General Rules-2018” and the competent authority has accordingly decided to allow account opening for MIS/ SCSS/ KVP/ NSC/ PPF schemes in GDS Branch Post Offices.

Also read: Rates of small savings schemes

2. However, the process for necessary modification in RICT CBS application/ Finacle may take time. So, in order to facilitate rural customers to open account under these schemes at the GDS Branch Post Offices, the following guidelines are issued for further necessary action, till the provisions are made available in DARPAN (RICT) CBS Application/ Finacle.

Opening of MIS/ SCSS/ NSC/ KVP/ PPF account of any amount subject to minimum/maximum limit, if any under each scheme and subsequent deposit in PPF account can be done at GDS Branch Post Offices through Cheque only (POSB Cheque/ Bank Cheque).
The process defined for acceptance of cheque and account opening through cheque in GDS Branch Post Offices vide SB Order 22/2020 dated 18.06.2020 should be followed.
For opening of MIS/SCSS account in GDS Branch Post Office, the monthly/quarterly interest will be paid through respective customer’s PO Savings Account only. Likewise, in case of loan/withdrawal in PPF account, the same will be paid through respective customer’s PO Savings Account only.
Respective account office will ensure the eligibility conditions/ applicable limit of the schemes.
In case, form 15G/15H is submitted by SCSS depositor at GDS Branch Post Office, the GDS Branch Post Office will send the same to respective account office duly entered in BO Journal and BO Daily account on the same day.
Account Office will ensure updation of Form 15G/15H on the day of receipt in Finacle

3. It is requested to circulate these amendments to all concerned (including GDS Branch Post Offices) for information and guidance and necessary action.

Also check: Central Government Post Office Savings Account Scheme 2019

4. This issues with the approval of Competent Authority.

(Devendra Sharma)
Assistant Director (SB)

The post Extension of MIS/ SCSS/ KVP/ NSC/ PPF schemes up to GDS Branch Post Office level through cheque appeared first on CENTRAL GOVERNMENT EMPLOYEES NEWS.

Clarifications on different scenarios being faced or likely to be faced by Post Offices after implementations of CBS.

admin — Wed, 24 Jun 2015 03:45:17 +0000

Clarifications on different scenarios being faced or likely to be faced by Post Offices after implementations of CBS

SB Order No. 7/2015

Government of India
Ministry of Communication & IT
Department of Posts

Dak Bhawan, Sansad Marg,
New Delhi-110001.
Date: 18.06.2015

All Heads of Circles/Regions

Addl. Director General APS, New Delhi.

Subject- Clarifications on different scenarios being faced or likely to be faced by Post Offices after implementations of CBS.

Sir/ Madam.

The undersigned is directed to refer to this office letter of even number dated 06.08.2014 (SB Order No.8/2014) & 14.08.2014 (Addendum to SB Order No. 8/2014) on the subject.

2. The competent authority has reviewed the process of all the 14 scenarios circulated vide above reference in the light of roll out of CBS HOs and 1790 SOs across the country as well as change in the process of Circle Processing Centres (CPC). Process mentioned in the scenario No. 2,3,5,6,10,11 and 14 have been revised. Revised process pertaining to these scenarios is attached as ANNEXURE with this letter. This will supersede the process circulated vide SB Order No. 8/1014 and Addendum to SB Order No.8/2014

3. This may kindly be circulated to all post offices for guidance and necessary action.

Yours faithfully,

(Kawal Jit Singh)
AD (SB-II)

ANNEXURE

Revised procedure to be followed in ease of following scenarios which will supersede the existing procedure.

2.Scenario:- When a Certificate holder attends any CBS Post Office to encash certificates either on maturity or for premature closure where certificates were purchased from other CBS Post Office.

The Counter PA should first go to HACLI and see that Certificates are genuine and stand in Finacle. He/She will verify signatures of the holder(s) on the certificates with that available in Finacle. Once, it is confirmed from the signatures that holder is genuine, holder should be asked to fill NC-32 and give fresh ID as well as Address Proof and Mobile number. After proper verification of KYC documents. Certificates first be transferred IN by using HACXFSOL. Customer’s new address and mobile number should be entered through account modification menu and it should be verified by Supervisor. Then payment should be mode by crossed cheque or credit to savings account. Payment should not be made by cash in any case.

An intimation of Transfer/Discharge should be sent to the office of issue by service registered post which will make Transfer/Discharge entry in the Purchase Application (in case of old certificates) or AOF.

NC-32 and KYC documents should he preserved in the CBS Post Office in a A4 size Ring Guard File.

3.Scenario:- When any claimant (In ease of death of holder) presents certificates issued by another CBS Office alongwith claim application form for payment or transfer to the claimant’s name.

In CBS environment claim form can be submitted at any CBS post office. What such a claim is presented at any CBS post office. first of all. user has to enter date of death in the CIF and supervisor has to verify. Then procedure of settlement of deceased claim case has to be followed. After sanction of claim. if claimant wants payment, procedure mentioned in scenario 2 should be followed. If claimant wants to transfer of certificates in his/her Mine. open new CIF in his/her name hosed on new AOF (if no CIF is available in his/her name) and attach the existing Certificates (Accounts) with new CIF. Name of holder can he changed through menu HAALM.

In this case also, an intimation of Sanction of Claim/Transfer/Discharge alongwith copy of sanction memo should be sent to the office of issue by service registered post which will make Death/Transfer/Discharge entry in the Purchase Application (in case old certificates) or AOF.

Claim Application Form and KYC documents of claimant and Account Opening Form (AOF) should be preserved in the CBS Post Office. If certificates are transferred in the name of claimant. KYC Form NB to be taken from the claimant and sent to CPC of the office where claim is sanctioned CPC will scan the Photograph and signature and attach the same with new CIF.

3. Scenario:- When Account Holder of MlS/SCSS/TD scheme approaches any CBS Post Office for taking Interest or closing accounts.

The Counter PA should fast go to HACLI and see that Accounts) are genuine and stand in Finacle. He/She will verify signatures of the holder) on the withdrawal Form or Account Closure Form with that available in Finacle. Once. it is continued from the signatures that holder is genuine, payment of interest should be made to the account holder as per process being followed for normal withdrawal. If account closure is requested. take SB10(b) form, fresh ID as well as Address Proof. After proper verification of KYC documents. Accounts(s) first to be transferred IN by using HACXFSOL. Whenever any account is closed at the office other than the office where account was opened. In any case. payment should not be ade by cash and payment should either be made by crossed cheque or credit to savings account (where required KYC documents have been taken and signatures are available in the system) only.

SB10(b) and fresh KYC documents obtained should be preserved in the CBS Post Office where payment is made. An intimation of Transfer/Closure should be sent to the office from where the account was transferred by service registered post which will make Transfer/Closure entry in the original AOF.

6.Scenario:- When any claimant presents documents {or preferring claim (In case of death of depositor) in respect of any MlS/SCSS/TD/RD/PPF accounts stand at another CBS Office alongwith claim application form for payment or transfer of account (RD/TD/SCSS) {only spouse}) in the name of claimant.

Death should be noted in the relewmt field in CIF of deceased depositor. Follow the procedure laid down for settlement of deceased claim case. After sanction of claim. follow the procedure mentioned in scenario 5 above. If claimant wants to transfer RD/TD/SCSS (only spouse) account in his/her name. open new CIF (based on new Account Opening Form (AOF)} in his/her name (if not already exists) and attach the existing Accounts with new CIF. Name of holder can be changed through menu HAALM.

Claim Application Form and KYC documents of claimant or Account Opening Form (AOF) should be preserved in the CBS Post Office and in case account(s) is/are transferred in the name of claimant. KYC Form has to be obtained and sent to CPC of the office where claim is sanctioned. CPC will scan the Photograph and Signature and attach the same with new CIF.

10.Scenario:- An account holder of a CBS Post Office applies for transfer of account to any Non CBS Post Office or any account holder of non-CBS post Office to a CBS Post Office.

Transfer of account from CBS Post Office to Non-CBS Post Office and vice verse is not allowed. However, Postmaster or Sub Postmaster of SOIHO where transfer of account is applied will go to DMCC Chennai website to see list of CBS Post Offices and confirm that post office to which transfer is applied is a CBS Office or not. If SO is completely manual and unable to see the I’m. it will be the duty of HO that before issue of AT, list should be consulted and if that post office is already in the list of CBS Post Offices. AT should not be issued.

In case transfer is sought from CBS to a non CBS Post Office. Account holder should be advised to select a nearby CBS Post Office (from the list) and get account transferred or avail services of that CBS Post Office

In case transfer is sought from a non CBS Post Office to a CBS Post Office. account holder should be advised to get his/her account transferred to a nearby non CBS Sub Post office.

11. Scenario:-Inter CBS Post office Transactions (INTERSOL TRANSACTIONS)

In CBS environment. transactions can be initiated in any CBS Post Office. Any depositor of Savings. RD. TD. MIS. SCSS. PPF or Certificates can initiate Financial Transactions at any CBS Post Office. Transaction will appear in the Report No.19 i.e Common Counter Wise Transactions Report-Inter Branch of the office where transaction is initiated Amount of the transaction would also appear in Consolidation of the same office. No transaction would appear in the office where account/certificate stands. Extra care should be taken at the time of such transactions. In respect of withdrawal from savings Account for more than for Rs. 50,000.’- , it should be allowed only if signatures are available in the system and are tallied In respect of accepting deposits. no extra care is required to be taken. As regards, payment of maturity value of MIS/RD/SCSS/TD/PPF/Certificates procedure given in the relevant scenario should be followed.

Non Financial transaction like modification in account or ClF can be made only the office where account stands and it should be supported by documentary proof. In case of change in name or photograph or address, fresh KYC Form (in duplicate) has to be obtained with documents and one copy of KYC Form has to be sent to CPC for scanning of fresh photograph or signature. Please ensure that all Financial or Non Financial Transactions should be verified by Supervisor/89M at the same office when initiated by PA.

14. Scenario:- A customer wants to do re-investment of matured amount in CBS post office.

In case. depositor wants re-investment from one scheme’s maturity value to another scheme. customer should be asked if he/she has a Savings Account in any CBS Post Office. If yes, then signature in that account available in the system should be tallied with the signature on the Closure Form or Certificate & if not, customer should be asked to open new savings account under the same CIF (fresh KYC documents and Form should be taken if account/certificate matured belong to pre-migration period). Customer should write on the receipt side of the Account Closure Form or Certificate, the amount to be re-invested. name of scheme and Savings Account number under his/her signatures. In case of new AOF presented for re-investment. under the tiled “Mode of Deposit”. He/she has to write savings account number. In such a case. no separate withdrawal form is required to be given and this transaction has to be treated as non-cash transaction for the purpose of eligibility of commission to agents (if AOF contains detail of agent). Once Postmaster/Sub Postmaster is sure about genuineness of the depositor (from signatures/photograph/any other identification). total maturity value+interest should be credited into that Savings Account and then amount to be re-invested should be debited/withdrawn from this savings account and credited/deposited in the concerned new account while funding.

No re-investment should be accepted if customer does not have a savings account in a CBS Post Office or customer is not ready to open new savings account. in such a case, payment should be made by Postmaster Cheque only.

Source: http://www.staffnews.in/

[http://www.staffnews.in/2015/06/clarifications-on-different-scenarios.html]

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