(FS Division)

Dak Bhawan,
Sansad Mar New Delhi-110001,
Dated: 01.06.2021.,

 Subject: Clarification regarding issuance of ATM cards to POSB customers

  With reference to the above mentioned subject, the undersigned would like to intimate that a number of queries have been received in this office regarding

 1. Issuance of ATM cards to illiterate depositors and the depositors who are old and are unable to sign properly as per the signature available in PO records.

 2. The queues have been examined at this end and it has been decided by the Competent Authority that if a request from POSA customer, who illiterate/ old and is unable to sign properly as per the signature available in PO records, is received. The ATM card may be issued to such customers on par with other customers after properly educating them.

 3. This is for your information and further circulation to all concerned. Any query in this regard may kindly be sought from this office.

Yours sincerely
(Bishan Singh)
Director (CBS)

Copy to: In Charge, National ATM Unit,  Bengaluru for information.

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Post Office Savings Bank Schemes – Interest Rates & Maturity Values Table w.e.f. 01st Jan 2024 to 31st Feb 2024

POST OFFICE SAVINGS BANK SCHEMES INTEREST RATES & MATURITY VALUES TABLE
(w.e.f. 01.01.2024 TO 31.03.2024)

MATURITY VALUES *

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SB Order No. 14/2022

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

Dak Bhawan, New Delhi -110001
Dated: 30.08.2022

To,
All Head of Circles / Regions

Subject: – Regarding introduction of the online account opening and closure through DOP Internet Banking for Public Provident Fund (PPF) Accounts.

Madam / Sir,

In line with providing more digital transaction facilities to POSB customers, the undersigned is directed to say that online account opening and closure for Public Provident Fund (PPF) have been introduced in DOP Internet Banking. Now DOP Internet Banking users can open and close their PPF account online. For more details kindly read FAQ available at link https://ebanking.indiapost.gov.in

2. The option for opening and closing of Public Provident Fund (PPF) account 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 PPF account:

(a) Procedure for opening of PPF Account:
➢ Login into DOP Internet Banking
➢ ‘General Services’
➢ ‘Service Requests’
➢ ‘New Requests’
➢ PPF Accounts – Open a PPF Account
➢ Deposit Amount (Enter Amount for which PPF account is to be opened minimum ₹500 or above in multiple of ₹ 50 upto ₹ 1,50,000/-
➢ 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 PPF Account opened under ‘Accounts’.
(ii) PPF Account 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 PPF Account:
➢ Login into DOP Internet Banking
➢ ‘General Services’
➢ ‘Service Requests’
➢ ‘New Requests’
➢ Closure of PPF Accounts
➢ Deposit Account (Select PPF 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 PPF Account closed.
(ii) Only matured account can be closed under this option.
(iii) As premature closure is allowed under specific conditions, for premature closure kindly submit account closure form, passbook and relevant documents at Post Office concerned.

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-II)

Download introduction of the online account opening and closure through DOP Internet Banking for Public Provident Fund (PPF) Accounts PDF

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SB Order No. 30/2021

File No. FS-07/1/2021 -FS-DOP-Part(1)
Government of India
Ministry of Communications
Department of Posts
(F.S. Division)

Dak Bhawan, New Delhi – 110001
Dated: 18.10.2021

To

All Head of Circles / Regions

Subject: Amendment to Rule 3(1) & 4 of Appendix III (Incentive Scheme for Branch Postmasters) of POSB CBS Manual circulated through SB Order No. 09/2018 dated 17.07.2018 – Regarding.

Commission at the rate of 1% on the net accretions in PO Savings Account, subject to certain conditions, is paid to the GDS Branch Postmaster. Earlier, the facility of operation of Accounts standing at the Branch Post Offices was available at Account Office / Head Post Office besides the BO where the account stands. At present, the Savings Accounts standing in the Branch Post Office are operated from any CBS post offices and the BO accounts are linked with IPPB Savings Account for Sweep-In / Sweep out facility. Further, other facilities like ATM, Internet Banking and Mobile Banking are also allowed to the Savings Accounts standing in the Branch Post Offices. Hence, the channels for operation of accounts standing in the Branch Post Offices have increased

2. Hence, the process for calculation of net accretions in PO Savings Accounts for incentive payment has been reviewed and the following provisions in Rule 3(1), 4(1) & 4(2) of Appendix III (Incentive Scheme for Branch Postmasters) of POSB CBS Manual circulated through SB Order No. 09/2018 dated 17.07.2018 are amended. The texts of the amended provisions are given below.

3. The PROFORMA prescribed in Rule 4(1) of Appendix III (Incentive Scheme for Branch Postmasters) of POSB CBS Manual is also amended and the amended PROFORMA is annexed herewith.

4. The above amended provisions will be applicable in case of all unpaid incentive claims. The claims of incentive / commission on net accretions already paid to the GDS Branch Postmaster shall not be re-opened/revised due to the above amendments.

5. This may be circulated to all the Post Offices for information and necessary actions.

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

(T C VIJAYAN)
Asst. Director (SB-I)

PROFORMA

Name of BO ________________ Year ____________________

Date …………………

Signature of GDS BPM

To be filled by the Account Office

Net accretion during the year (in words & figures) ________________
Total amount of incentive eligible (in words & figures) _____________
Verified for payment for Rs. (in words and figures) ________________

Date ________________

Signature of the PA/Postmaster

Passed for payment for Rs. (in words & figures) _______________

Date ______________

Signature of Postmaster

To be filled by the GDS Branch Postmaster

Received the amount of Rs. (in words & figures) __________ ____________ specified above.

Date _________________

Signature of GDS BPM

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SB Order No. 03/2021

F.No.25-11/2016-FS-CBS
Government of India
Ministry of Communications
Department of Posts
(FS Division)

Dak Bhawan, Sansad Marg,
New Delhi-110001
Date: 05.03.2021

To,

All Head of Circles/Regions

Subject: Regarding revision of cash acceptance limit in GDS Branch Post Offices and cash transaction limit at other SOLs.

Sir / Madam,

The undersigned is directed to say that the issue of enhancement of the present limit of acceptance of cash at GDS Branch Post Offices and cash transaction limit in other SOLs accounts was under consideration in this Directorate. This limit was prescribed in para 18 and para 27 of SB Order No 05/2016 dated 21.06.2016.

The issue was examined in the context of the difficulties being faced by pensioners, depositors of SSA/PPF accounts, rural depositors and present status of automated accounting mechanism through GL Integration in Finacle.

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

In the above context, the competent authority has decided to enhance the limit prescribed in para 18 and para 27 of SB Order No. 05/2016 dated 21.06.2016. Accordingly the text of para 18 and para 27 of SB Order 05/2016 dated 21.06.2016 is replaced as follows:

• i) Para-18:  No BPM shall accept cash deposit transactions for more than Rs.50,000/- in an account in a day. Further, till the PPF/ SCSS/ MIS/ KVP/ NSC schemes are made available in RICT CBS App, deposit in these accounts is to be accepted by withdrawal form or cheque only.
• ii) Para-27: All POSB Cheques issued by any CBS Post Office if presented at any CBS Post Office shall be treated as AT PAR cheques and shall not be sent for clearing. No cash transaction for more than Rs. 50,000 shall be allowed at other SOLs in an account in a day.

It is requested that these changes may be brought to the notice of all post offices immediately for information, guidance, and necessary action.

This issues with the approval of competent authority.

Yours faithfully,

(Devendra Sharma)
Assistant Director (SB-II)

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File No. FS-10/17/ 2020-FS
Govt. of India
Ministry of Communications
Department of Posts
(F.S. Division)

Dak Bhawan, New Delhi- 110001
Dated: 07.12.2020

To
All Heads of Circle

Subject: Eligibility for opening of Senior Citizen Savings Scheme Accounts – Reg.

Sir / Madam,

A POSB customer, formerly employed with M/s. Abbott Healthcare, Tanjore has sought for clarification through email whether he being a retired from a private company and 58 years of age is eligible to open SCSS account.

Detailed procedure related to opening of SCSS accounts have been laid down in Senior Citizen Savings Scheme notified vide G.S.R. 916(E) dated 12.12.2019. More specifically, Rule 3 (ii) of Senior Citizen Savings Scheme 2019 specifies, “an individual who has attained the age of fifty-five years or more but less than sixty years, and who has retired on superannuation or otherwise on the date of opening of an account under this Scheme is eligible to open the account, subject to the condition that the account is opened by such individual within one month of the date of receipt of the retirement benefits and proof of date of disbursal of such retirement benefit(s) along with a certificate from the employer indicating the details of retirement on superannuation or otherwise, retirement benefits, employment held and period of such employment with the employer, is attached with the application form”.

Central Government pensioners need not visit office of Pension department or pension disbursing agency for submission of Life Certificate

The rule doesn’t specify category of employer. Any customer fulfilling the conditions laid out in the Scheme is allowed to open SCSS account in the post office of his choice. This may be circulated to all the post offices.

This issues with the approval of DDG (FS).

(T C VIJAYAN)
Asst. Director (SB-I)

Source: DoP

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NATIONAL COORDINATION COMMITTEE
OF PENSIONERS ASSOCIATIONS.
13-C Feroze Shah Road,
New Delhi.110 001

Dated: 24/10/2020

To
Ms. Nirmala Seetharaman
Hon’ble Finance Minister,
Govt. of India, North Block,
New Delhi. 110 001.

Dear Madam,

Sub: Request for festival grant or advance.

As you are aware the Pandemic Covid 19 is spreading unabated, contrary to our expectation. Since both the preventive and curative remedies are yet to be in operation, the situation is likely to get worsened in the days to come. The number of people already affected and the number of persons died in our country due to the disease are alarming. Most of the deaths are reported to be of persons beyond the age of 60.

FinMin Order – Grant of Festival Advance to Central Government Employees

Life is made more difficult for the Pensioners and Family Pensioners as their physical movement is restricted and that financially they are suffering more than many others. In this situation, we have seen a welcome move that the Government of India has relaxed the condition as a one-time measure and granted Festival Advance to the Government Employees. Even though it is a recoverable advance, the liquid cash at the hands of employees is no doubt will be of enormous assistance to them.

The Pensioners and Family Pensioners, are placed in a very difficult situation due to the denial of the dearness relief which is to continue up-to 1st July, 2021. The financial burden has increased due to the inflation and phenomenal price rise on essential food items. Considering the dire situation in which the pensioner community is placed, we request that the Central Government may consider a one-time grant of Rs.20,000/- to all Pensioners and Family Pensioners. If the Government finds it difficult to bear this additional financial burden, we request the Government might consider taking into account the fact that the coming months are festival months in our country and grant of one-time recoverable advance of Rs.20,000/- to Pensioners and Rs.10,000/- to Family Pensioners through the Banks or POSB, where they receive the Pension and Family Pension. The Banks and POSBs may be asked to recover the amount in 10 monthly instalments. This Advance should be in addition to any loans the Pensioners and Family Pensioners received from Banks in the past. The Pensioners and Family Pensioners will feel much relieved at this time of financial and mental stress.

Retirement guide for a central government employees

The Government may consider our proposals quickly and render invaluable relief to the community of Pensioners and Family Pensioners.

Thanking you,
Yours faithfully,

Sd/-
(K.K.N.Kutty)
Secretary General

Source: nccpahq.blogspot.com

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S.B. Order 17/2020

e.F.No.25-08/2012-Fs(CBS) (Pt.l)
Government of India
Ministry of Communications
Department of Posts
(Financial Services Division)

Dak Bhawan, New Delhi
Dated: 11.08.2020

ADDENDUM – II

To,

All Head of circles/ Regions,

Subject : Incorporation of Aadhaar Seeding provision in common /modified Account Opening Form to be used in National Savings Schemes for CBS and non CBS Post Offices -Regarding.

Sir/Madam,

Kindly refer to the SB Order No. 17/2020, issued vide this office letter No. 25/08/2072-FS (CBS) dated 15.04.2020 followed by Addendum to 58 Order 17/2020 dated 10.06.2020 on the subject cited above.

Also check: DoP – Guidelines for protection and safety of Divyangjan Disabilities employees during COVID-19

2. In order to facilitate the POSB Account holder to avail DBT benefits in their Post Office Savings Account, the competent authority has decided to incorporate column for Aadhaar Seeding in “Application for Opening of Account /Purchase of Certificate” form for benefits of the depositors and ease of operation.
3. Revised “Application for Account opening/ Purchase of certificate” Form along with Aadhaar Seeding mandate Form is enclosed for information and further necessary action.
4. It is requested to circulate this SB Order along with copy of Forms enclosed to all concerned for information and necessary action. The same may also be placed on the notice boards of the Post Offices in public area.

This issues with approval of the Competent Authority.

(Devendra Sharma)
Assistant Director (SB)

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S.B. Order 21/2020

F.No.107-01/2020-SB
Government of India
Ministry of Communications
Department of Posts
(Financial Services Division)

Dak Bhawan, New Delhi-110001
Dated :- 11/06/2020

To,
All Head of Circles/Regions.

Subject:- Amendment to procedural rule in POSB(CBS)Manual/POSB Manual Volume regarding.

Sir/Madam,

In order to streamline payment of Incentive/ Commission to GDS SPM/ GDS BPM for opening of National Savings Time Deposit Accounts, POSB (CBS) Manual, Appendix VIII, para / Note 4 / POSB Manual Volume, Appendix X, para 1 Note 4 is amended as below:

“incentive will be payable to GDS SPMs/GDS BPMs irrespective of the location of Post Offices i.e. whether in rural area or in urban area subject to the condition that the address of the depositor falls within the delivery jurisdiction of the respective GDS Sub Post Office/Branch Post Office.”

Also check: Officials, who declined their adhoc promotion will be debarred for promotion to LSG (Postal) cadre

2. It is requested to circulate the amendment to all concerned for information and guidance and necessary action.

3. This issues with the approval of the Competent Authority.

(Devendra Sharma)
Assistant Director (SB)

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F.No. 113-02/2015-SB
Government of India
Ministry of Communications & IT
Department of Posts

Dak Bhawan, Sansad Marg,
New Delhi – 110001
Date: 26.10.2015

To
All Heads of Circles/Regions
Addl. Director General, APS, New Delhi.

Subject:- Mandatory use/ opening of Savings Account in CBS Post Offices for maintaining/ development of relationship of customers with Post Office Savings Bank (POSB) – further clarifications to SB Order No.12/2015 regarding

Sir / Madam,

In continuation of SB Order No.12/2015 issued vide this office letter of even number dated 05.10.2015 on the subject, the undersigned is directed to convey that a number of references form Public by mails, letters and phone calls have been received, mentioning that Opening of new Saving Account at CBS Post Office is taking too much time/ even days due to which maturity payments are getting delayed. Post Offices are not issuing cheques to the customers. The competent authority has reviewed the matter particulary in the backdrop of issues being reported in CIF Creation and Modification menus of Finacle CBS Application and has decided to issue following clarifications:-

1. The objective of the letter dated 05.10.2015 was to educate the customers for availing various benefits of Post Office Savings Account in CBS Post Office and to develop / maintain relationship with the POSB customers through Savings Account. With this, a customer can also have a holistic view of all transactions happening in various accounts/ certificates standing at different post offices in his/her name. Looking to the benefits of Savings Bank Account, field units may be asked to continue to persue the customers to open savings account for better and sustainable relationship with POSB. However, in case of extreme exegencies like a Bank or any Institution presenting Certificates after forgetting security, any depositor becomes NRI after investment and now wants to take maturity value only, the claim case where there are multiple nominees/legal heirs or any other case where Postmaster/ Sub Postmaster is satified that depositor is genuinely not in a position to open savings account immediataly may issue cheque for the maturity / prematurity value. Depositors may be made aware that facility of transfer of funds through NEFT/RTGS and use of Post Office Savings Bank ATM cum Debit Card in other Bank’s ATMs will also be provided shortly.

2. In case a depositor of RD or PPF is also genuinely unable to open Savings Account immediately, then may present cheque of other bank for deposit but for future deposits he/she may be requested to open savings account.

3. For all new investments in any scheme including through agents, customer should open Savings Account mandatorily with proper KYC documents to start relationship with POSB and then invest in any of Small Savings Scheme through the same Savings Account. In such cases, if customer wants to invest through cheque of other Bank, his/her cheque should be lodged only through his/her savings account and then new account/certificate should be funded from that savings account by putting cheque credit date as Value Date.

4. For subsequent deposits by RD, PPF and SSA Accounts, Customers/MPKBY Agents should be suitably informed that from 1st Jan. 2016, all such customers should be asked to submit POSB Cheque only for their subsequent deposit and if they donot have savings account in any CBS Post Office, they may have to open Savings Account with cheque Books.

5. All MIS/SCSS/TD Account Holders who open further new account or extend the existing accounts, should also be requested to open savings account mandatorily and give standing instruction for credit of interest so that they need not visit post office frequently and stand in queue, instead they can be issued ATM/Debit Card to withdraw from ATMs. Existing account holders should also be convinced to open Savings Account for getting monthly/quarterly/yearly interest.

6. It is further reiterated that for all the entries made in Clearing Inward / Outward, ECS Inward/ Outward, BO Settlement and Postmaster Repayment Office Account (0340) by the User are to be verified by Supervisor. For these entries, it will be the personal responsibility of that User and Supervisor.

7. It is requested to circulate this order to all CBS Post Offices and non CBS Post Offices may start requesting customers to open Savings Accounts to avail all the benefits once office is migrated to CBS.

Yours faithfully,

(Kawal Jit Singh)
Assistant Director (SB-II)

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