File No. 16-03/2019-Inspn.
Government of India
Ministry of Communications
Department of Posts
(Inspection Unit)

Dak Bhawan, Sansad Marg,
New Delhi-11001,
Dated: 07.02.2022

To

1. All Heads of Postal Circles,
2. Director RAKNPA,
3. APS Directorate, New Delhi,
4. Directors, All Postal Training Centres

Subject: Revision of Standard Inspection Questionnaire for Branch Post Office.

The Standard Inspection Questionnaire of Branch Post Office and supplementary questions thereon circulated vide this office letter No. 16-03/2019-Inspn. dated 09.08.2019 and letter No. 16-03/2019-Inspn. dated 15.04.2021 respectively with respect to Question No. 36 of Branch Post Office Inspection Questionnaire is ordered to be revised as under with immediate effect:-

Branch Post Office Inspection Questionnaire

2. Circles are requested to circulate the revised Ques. No. 36 to 118 subordinate units for using the same while inspecting Branch Post Offices. It is also requested that Circles may forward suggestions/ recommendation to further improve the Questionnaire.

Assistant Director (Inspection)

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The rate of interest on various Small Savings Schemes has been revised for the first quarter of the fiscal year 2021-22, which begins on April 1, 2021, and ends on June 30, 2021.

F.No.1/4/2019-NS
Government of India
Ministry of Finance
Department of Economic Affairs
(Budget Division)

North Block, New Delhi
Dated: 31.03.2021

OFFICE MEMORANDUM

Subject: Revision of interest rates for Small Savings Schemes – reg.

In exercise of the powers conferred by Rule 9(1) of the Government Savings Promotion General Rules, 2018, the rtes of interest on various Small Savings Schemes for the first quarter of financial year 2021-22 starting from 1st April, 2021 and ending on 30th June, 2021 have been revised as indicated below:

*No change.

2. This has the approval of competent authority.

S/d,
(Rajesh Panwar)
Deputy Director (NS)
Tele – 01123093170

The post Rate of interest on various Small Savings Schemes for the first quarter of financial year 2021-2022 appeared first on CENTRAL GOVERNMENT EMPLOYEES NEWS.

e.F.No. FS-13/1/2020-FS
Government of India
Ministry of Communications
Department of Posts
(F.S. Division)

Dak Bhawan, New Delhi
Dated:- 23.09.2020

To,

All Head of Circles /Regions,

Subject: Regarding acceptance of withdrawal form (SB-7) with passbook for subsequent deposit/opening of new account for National (Small) savings Schemes in GDS Branch post offices.

Sir/Madam,

Kindly refer to the SB Order No. 27 /2020, issued vide this office letter No. FS-13/01/2020-FS dated 23.01.2020 for acceptance of cheque in GDS Branch Post Offices. This office has been receiving various references to allow subsequent deposit/ opening of account through withdrawal form(SB-7) as many depositors in GDS Branch Post Offices does not have cheque facility in their PO Savings Account.

2. The issue has been examined in this office in the light of rule 7 of Government Savings promotion General Rules 2018 and relevant procedural rules of POSB (CBS) Manual and the competent authority has decided to allow acceptance of withdrawal form along with SB passbook for subsequent deposit and opening of new accounts in GDS Branch post Offices.

3. However, the process for necessary modification in RICT CBS application/ Finacle may take time. So, in order to facilitate rural customers to open account/ Subsequent deposit at the GDS Branch Post Offices through withdrawal form (SB-7) with passbook, the following guidelines are issued for further necessary action, till the provisions are made available in DARPAN (RICT CBS Application /Finacle).

Also check: Rate of interest on various National Small Savings Schemes with effect from 1st January 2020

a) For subsequent deposits in SB/RD/SSA/PPF:-

• Subsequent deposit up to Rs.5000/- in SB/RD/SSA/PPF account through withdrawal form (SB-7) procedure prescribed in POSB (CBS) Manual Appendix II para lc(3) should be followed at GDS Branch Post Office.
• For subsequent deposit above Rs. 5000/-, the depositor should submit withdrawal form (SB-7) along with POSB passbook and pay-in-slip along with passbook of SB/RD/SSA or PPF account (for all subsequent deposits).
• On the acquaittance portion (receipt side) of the withdrawal form, the depositor has to write ‘For credit in the Account No …………… in the name of …………… (Signature of depositor)”
• GDS BPM will check withdrawal form and pay-in-slip and with passbooks and check that withdrawal form and pay-in-slip are complete in all respect.
• GDS BPM will examine the withdrawal form and follow the procedure laid down for handling high value withdrawal from savings account in para 4 of Appendix II of POSB CBS Manual and send both passbooks, withdrawal form and pay-in-slip to account office duly entered in BO Journal and BO Daily Account on the date of receipt through BO Account Bag.
• vi) Receipts from SB-28 are to be issued for both the passbooks collected by the GDS Branch Postmaster.
• vi) on receipt of passbooks from Account office, GDS Branch Post office will hand over the passbooks to the depositor after updating details in BOSB Joumal and Bo Journal of relevant scheme. Depositor’s copies ofSB-28 should be taken back and pasted with the office copy.

Procedure to be followed by Account Office.

• On receipt of withdrawal form (SB-7), pay-in-slip and passbooks, the account office will follow tire procedure prescribed for credit through transfer from Savings Account laid down in Rule 26(3) of POSB (CBS) Manual.
• Account office should ensure that on acquittance portion (receipt side) of the withdrawal form depositor has written “For credit in the Account No……………….. in the name of …………………..(Signature of depositor)” and signature of depositor tallied with the signatures on application side of the withdrawal form and signatures available in office record/Finacle and both account under same CIF or minor under same guardian CIF.
• Account office should ensure name of depositor in POSB account tallies with the name of depositor of the account in which subsequent deposit is applied.
• After the transaction is complete, Account office will print both passbooks and send back to concerned GDS Branch Post Office duly entered in BO slip on the same day’

(b) For Opening of New Account

• For opening of new account (SB/RD/TD/SSA) up to Rs. 5000/- through withdrawal form, procedure prescribed in POSB(CBS) Manual Appendix II para 1(A) should be followed’
• For opening of new account in SB/RD/TD/SSA above Rs. 5000/- or opening of account in PPF/MIS/SCSS/KVP/NSC, the depositor has to submit account opening form, KYC form, KYC documents (if not already submitted), pay in slip along with passbook of POSB account and withdrawal form (SB-7).
• on the acquittance portion (receipt side) of the withdrawal form (SB-7) depositor has to write “for opening’ of new ………………….. (Name of scheme) Account in the name of ……………… (Signature of depositor)”.
• GDS BPM will check withdrawal form and POSB passbook as well as Account Opening Form, KYC form, KYC documents and pay-in-slip and ensure that these are complete in all respect.
• While examining withdrawal form, GDS BPM will follow the procedure laid down for high value withdrawal from savings account in para 4 of Appendix II of POSB CBS Manual’
• Preliminary Receipt, 58-26 is to be issued for opening of new account and receipt from SB-28 is to be issued for the SB passbook collected by the GDS Branch Postmaster’
• GDS BPM will send withdrawal form (SB-7), POSB passbook, Account opening Form, KYC form, KYC documents and pay-in-slip duly entered in BO Joumal and BO Daily Account on the date of receipt through BO Account Bag.
• On receipt of both passbooks (POSB and New Account) from Account office, GDS Branch Post office will hand over the he passbooks to the depositor after updating SS Book, BOSB Joumal. BO Joumal of the relevant scheme and depositor’s copy of 58-26 and SB-28 should be taken back and pasted with the office copy.

Procedure to be followed at Account Office

• on receipt of withdrawal form (SB-7), Account Opening Form, KYC form, KYC documents, pay-in-slip and passbook of SB account, Account office should ensure that the depositor is eligible to open new account and name of depositor in POSB Account and in the Account opening Form must be tallied.
• Account office has to ensure that on the acquittance portion (receipt side) of the withdrawal form, depositor has written. For opening of new………………… (name of scheme) Account in the name of ……………..(signature of depositor)” and signature of depositor is tallied with the signatures on application side of the withdrawal form and signatures available in the office record/ Finacle and both account under same CIF or minor under same guardian CIF’.
• Account office will follow procedure prescribed for opening of account and funding through transfer from Savings Account as per Rule 22 of POSB (CBS) Manual. Account should be linked with relevant BO in Finacle CBS Application.
• After opening of account is completed, the Account Office will print new passbook and update SB passbook through Passbook printer and send back both passbooks to concerned GDS Branch Post Office duly entered in BO slip on the same day.
• All accounting entries will be done in Account Office

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-II)

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Clarification on physical presence of witnesses at the time of acceptance of deceased claim case: DoP

SB Order No. 31/2020

e.F. No. 113-02/2019-SB
Government of India
Ministry of Communications
Department of Posts (F.S. Division)

Dak Bhawan, New Delhi
Dated:- 16.09.2020

ADDENDUM

To,

All Head of Circles/Regions,

Subject:- Clarification on physical presence of witnesses at the time of acceptance of deceased claim case.

Sir/Madam,

Kindly refer to the SB Order No. 31/2020, issued vide this office letter of even number dated 28.08.2020 on the settlement of deceased claim cases. This office has been receiving various representations from nominee / claimant that post offices are insisting for physical presence of two witnesses at the time of acceptance of deceased claim case.

This issue has been examined in detail and accordingly, I am directed to clarify that the physical presence of witnesses is not required, if self attested photocopy of ID/Address proof of witnesses containing signature of the witness concerned are produced along with other claim documents.

ID and Address proof of witnesses may be taken as prescribed in KYC master circular issued vide SB Order 14/2012 and GSPR-2018. A list is enclosed for ready reference.

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

It is requested that this clarification may be circulated to all concerned including CBS/non­ CBS Post Offices to avoid public inconvenience.

This issues with approval of the Competent

(Devendra Sharma)
Assistant Director (SB-II)

Enclosed: As above.

List of documents may be accepted as ID and Address proof of witnesses

Application for settlement of an account of the deceased depositor by nominee or legal heirs under National (Small) Savings Scheme

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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 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)

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F.No.01/04/2016-NS
Government of India
Ministry of Finance
Department of Economic Affairs
(Budget Division)

Office Memorandum

North Block, New Delhi
Dated: 29.03.2019

Subject: Revision of interest rates for Small Savings Schemes.

On the basis of the decision of the Government, interest rates for small savings schemes are notified on quarterly basis since 1st April, 2016 . Accordingly, the rates of interest on various small savings schemes for the first quarter of financial year 2019-20 staring 1st April, 2019 and ending on 30th June, 2019 shall remain unchanged from those notified for the fourth quarter of financial year 2018-19.

This has the approval of Finance Minister.

sd/-
(Akhilesh Kumar Misra)
Director
Tele : 01123092744

Source: Dea.gov.in

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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

To

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.

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

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

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

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RESERVE BANK OF INDIA

RBI/2014-15/494

IDMD(DGBA).CDD.No.4052/15.02.006/2014-15

March 11, 2015

Dear Sir/Madam,

Sukanya Samriddhi Account

We forward herewith a copy of the Government of India Notification No. G.S.R.863(E) dated December 02, 2014 regarding the Sukanya Samriddhi Account for necessary action at your end. The Government of India, vide this Notification, has notified the Sukanya Samriddhi Account Rules, 2014, which came into force with effect from December 02, 2014.

2. Reporting of the Sukanya Samriddhi Account transactions i.e. receipt, payment, penalty, etc. may be directly done through the Government Account at Central Account Section, Reserve Bank of India, Nagpur on daily basis like the transactions of PPF, 1968, in order to have uniformity in reporting, reconciliation and accounting.

3. The Agency banks are required to observe the rules and regulations of the Scheme, and non-observance of rules and regulations would attract penal action, including de-authorization of the branch or bank. Pecuniary liabilities, if any, arising from such non-observance shall be borne entirely by the bank.

4. You may, therefore, approach Central Account Section, Reserve Bank of India, Nagpur for necessary arrangements to report Sukanya Samriddhi Account transactions with immediate effect.

5. Specimen of account opening application form and the passbook of the Sukanya Samriddhi Account are also enclosed for ready reference and necessary action at your end.

6. The contents of this circular may be brought to the notice of the branches of your bank operating the PPF, 1968 Scheme. These instructions should also be displayed on the notice boards of your branches for information.

Yours faithfully

(R. K. Singh)
Deputy General Manager

Source: http://rbidocs.rbi.org.in/rdocs/notification/PDFs/494SSAC110315.pdf

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NEW DELHI: Days after the Budget announced that tax deducted at source (TDS) will also apply to recurring deposits, banks are witnessing a rush of investors closing down their deposits prematurely.

Though it is fully taxable, the interest from recurring deposits is exempt from TDS. This only applies to interest from fixed deposits if the income exceeds Rs 10,000 in a year. The new rule is proposed to come into force from June 1, so investors are rushing to close their recurring deposits before the taxman gets whiff of their wealth.

“Premature closure of my recurring deposit will fetch me a lower interest rate. But at least there won’t be a tax deduction,” said an investor at a public sector bank branch in Delhi. Banks may see more premature closures of deposits as more investors become aware of the new rule.

It is not difficult to see why investors are panicky. Since the TDS is credited to the permanent account number of the investor, not mentioning the income in the tax return can lead to problems. The computer-aided scrutiny system of the tax department could pick up the mismatch in the tax credit and income declared by the assessee, which can lead to a detailed scrutiny by the tax authorities. If tax has been deducted at source but returns have not been filed, the tax department may want to know why.

“The new rules on TDS will help nail tax evasion and improve tax collections,” declares Sudhir Kaushik, co-founder and CFO, Taxspanner.

TDS rules for fixed deposits are also being changed. Till now, this deduction kicked in only if the income from fixed deposits made in a particular bank branch exceeded the threshold of Rs 10,000 in a financial year. It was common for investors to open fixed deposits at multiple branches of their bank to avoid TDS. The budget has proposed that TDS should be levied if the combined interest income from FDs in all branches of a bank exceeds Rs 10,000 in a year.

The third major change is that co-operative bank deposits will also be subject to TDS. This was more or less expected.

Read more at: Economic Times

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