GUIDELINES TO FOLLOW PROCEDURES IN POSB

GUIDELINES TO FOLLOW PROCEDURES IN POSB

The following are the most important procedures in operating the SB scheme in POs. It has been observed that most of the rules on the subject are being violated by the HO/SOs. If this situation is allowed to continue it will give room for frauds, excess/short payments etc. Hence it is requested to cause necessary instructions to all concerned suitably in this regard. In case of any omissions/commissions objections will be raised by SBCO accordingly and any serious case, It will be reported to Postmaster, Divisional Head.

A. Opening of New Account:

1. SB 103 pay in slip should be used for SB/RD/TD/MIS. Only the prescribed forms should be used in respect of PPF and SCSS scheme of accounts.

2. New Account no, Depositor name should be noted invariably in SB 103.

3. Deposit amount should be written in Words and Figures.

4. Date stamp, Accepting official signature, depositor signature are mandatory.

5. There should not be any corrections/over writings in the pay in slip, especially in money column.

6. Similarly, corrections/over writings should be avoided in pass book entries also.

7. In case of Minor accounts, the DOB of the Minor should invariably be obtained in the SB 3. Only the persons authorized in the rules should be permitted to be the Guardian of the minor depositor.

8. Only the current SB 3 form should be used for opening of New accounts.

In case of SO, SB/TD/PPF account opening form should be sent to HO. RD/MIS/SCSS account opening form with KYC documents(Photo, Photo ID, Address proof) should be preserved at the SO itself. The SPMs will be personally held personally responsible for any lapse in this regard.

In case of HO, new account opening form with KYC documents should be preserved at HO itself.

B. Accepting of deposit:

1. Pay in slip should be used according to the category of the account.

2. Account no, Depositor name should be noted in SB 103 without any corrections/over writings.

3. Deposit amount should be written in Words and Figures without any corrections/alterations. The BAT/DLT should be noted by the HO/SO, without giving room for any suspicion.

4. Date stamp, Accepting official’s signature, remitter’s signature are mandatory.

If any omission found in any of above said points, Passbook along with copy of ledger card will be called for verification.

5. If the deposit is made through cheque, the full particulars of the cheque should be got noted in the pay in slip.

C. Allowing of withdrawal:

1. SB 7 should be used for wdl. In SA/RD/TD/MIAS/NSS category of accounts and other forms as specified in the rules for other respective category of accounts (like PPF/SCSS) alone should be used.

2. Account no should invariably be got noted in SB 7.

3. Amount of withdrawal (words and figures) should be got noted in application side without any corrections/over writings.

4. Balance after withdrawal should be got noted application side.

5. Depositor Signature/LTI (Left thumb Impression for Illiterate account) should be obtained application side as well as acquaintance side.

6. In case of LTI (Left thumb Impression for Illiterate account), appropriate Certificate(s) by the withness(es) should be obtained in the application side as well as in the receipt side with full address of the witness(es).

7. Application side should be verified by PA as well as SPM/APM in all aspects. Initial of PA /SPM should be available in Application side in token of having verified the signature of the depositor.

8. Signature of depositor should be verified both by the PA and SPM/APM in case of withdrawals exceeding Rs.5000/-.

9. Payment order should be filled up with amount of withdrawal, in words and figure, with date stamp, SPM/APM signature.

10. Acquaintance side should be filled up with words and figure; the signature of the Depositor/messenger (or Signature/LTI(Left thumb Impression for Illiterate account) should be obtained.

11. In case of withdrawal from an account opened by illiterate depositor, the required certificates by the Witness(es) should be obtained along with the Name and full postal address of the witness in both sides of SB 7.

12. In case of messenger, messenger signature should be obtained in application side as well as acquaintance side.

13.In case of withdrawal from Minor account, the guardian should furnished the required certificate in the SB 7.

d. Closing of Account:

1. SB 7-A closure form should be used or any other specified forms in POSB manual for PPF/SCSS.

2. Account no should be noted in SB7A.

3. Amount of closure (words and figures) should be noted in application.

4. Depositor Signature/LTI (Left thumb Impression for Illiterate account) should be obtained application side as well as acquaintance side.

5. In case of LTI (Left thumb Impression for Illiterate account), Witness Certificate, witness signature, witness Name and postal address should obtained in application side as well as acquaintance side.

6. Application side should be verified by PA as well as SPM/APM. Initial of PA as well as SPM/APM should be available in Application side.

7. Signature of depositor should be verified by both PA and SPM/APM with SS verified remark and Initial of both PA and APM/SPM. 

8. Payment order should be filled up with amount of allowing payment (principle, interest, PMI, RDF, Loan, Loan interest, Total), total amount of payment order in words and figure with date stamp, SPM/APM signature, and designation seal.

9. Acquaintance should be filled up with words and figure, and Depositor Signature/ LTI (Left thumb Impression for Illiterate account) should be obtained.

10. In case of LTI (Left thumb Impression for Illiterate account), Witness Certificate, witness signature, witness Name and postal address should obtained acquaintance side.

11. In case of messenger, messenger signature should be obtained in application side as well as acquaintance side.

12. for Minor account, minor account certificate is mandatory.

13. SB3 card with KYC document (Photo, Photo ID, Address proof) should be attached with SB7-A.if original SB3 card are not available ,revised SB3 with KYC document should be attached.

If closure amount above Rs.50000, PAN card Xerox or form 60/61 is mandatory.

14. In case of RD/MIS/SCSS, single/double handed Sub office account closure, Passbook also attached with SB7-A.

15. if closure amount is above Rs.20000, cheque no or SB credit account should be noted in SB7A.

16.if account is closed via messenger,cash payment should not be made.crossed payment only. cheque no should be noted in SB7A. 

LOT Preparation :

1. Sanchay Post LOT print must be taken .(Manual LOT should not be prepared in Computerized Office)

2.SPM Signature with Designation seal must be affixed at bottom of LOT.

3.Date stamp impression is mandatory in LOT.

4.There should not be any manual correction in computerized LOT.

5.There should not be Manual Addition and deletion in Computerized LOT .

6.Salary List , Pension List,SB auto credit list from MIS ,RD auto credit list from SB,SB auto credit list from SCSS, must be attached with SB LOT.

7.SB auto credit list from MIS must be attached with MIS LOT .

8.RD auto credit list from SB must be attached with RD LOT.

9.SB auto credit list from SCSS must be attached with SCSS LOT. 

IF ANY OMISSION FOUND ,OBJECTION WILL BE RASIED BY SB/SBCO BRANCH

Clarifications on different scenarios being faced or likely to be faced in CBS Post Offices

SB Order 08/2014 

F.No. 116-15/2013-SB

Department of Posts

Clarifications on different scenarios being faced or likely to be faced in  CBS Post Offices

1.Scenario:- When a certificate holders attend CBS Post Office from where Certificates were purchased for transfer of certificates to another CBS Post Office.

The Counter PA or Supervisor or Postmaster should politely request the Certificate holder that since CBS has been implemented in the office, where he wants to transfer certificates, there is no need for transfer of certificates as he/she, on maturity, can take payment from any CBS Post Office after giving fresh KYC documents.

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 made by crossed cheque or credit to savings account. 

Payment should not be made by cash in any case. If holder wants re-investment, closing proceeds should be transferred to Re-investment office account (0387) and credit re-invested amount into newly opened account/certificate. Remaining amount can either be credited to savings account or paid back by cheque.

If certificates belong to the period of pre-migration, an intimation of discharge  should be sent to the office of issue by service registered post which will make discharge entry in the Purchase Application.

NC-32 and KYC documents should be sent to CPC of the office where payment is being made. CPC will scan the document and attach the same with CIF.

3.Scenario:- When any claimant presents certificates issued by another CBS Office alongwith claim application form for payment or transfer to claimant’s name.

In CBS environment, claim form can be submitted at any CBS post office. When 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 name, open new CIF in his/her name based 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 be changed through menu HAALM.

In this case also, If certificates belong to the period of pre-migration, an intimation of discharge or sanction of claim should be sent to the office of issue by service registered post which will make discharge entry in the Purchase Application and attach sanction memo.

Claim Application Form and KYC documents of claimant and Account Opening Form (AOF) should be sent to CPC of the office where payment is being made or claim is sanctioned. CPC will scan the document and attach the same with CIF.

4. Scenario:- When Account Holder of MIS/SCSS/TD scheme approaches CBS Post Office, where account stands for transfer of accounts before maturity to another CBS Post Office.

The Counter PA or Supervisor or Postmaster should politely request the Account holder that since CBS has been implemented in the office, where he wants to transfer Accounts, there is no need for transfer of Accounts as he/she, on maturity, can take payment from any CBS Post Office after giving

fresh KYC documents. Whenever any account is closed at the office other than the office where account was opened, payment should not be made by cash in any case and payment should either be made by crossed cheque or credit to savings account (where required KYC documents have been taken). 

Monthly/quarterly or Yearly interest can also be withdrawn at any CBS Post Office.

5.Scenario:- When Account Holder of MIS/SCSS/TD scheme approaches any CBS Post Office for taking interest or closing accounts.The Counter PA should first go to HACLI and see that Account(s) are genuine and stand in Finacle. He/She will verify signatures of the holder(s) on the withdrawal Form or Account Closure Form with that available in Finacle. Once, it is confirmed 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 IDas well as Address Proof. After proper verification of KYC documents, Accounts(s) first tobe 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 made by cash and payment

should either be made by crossed cheque or credit to savings account (where required KYC documents have been taken) only.If holder wants re-investment, closing proceedsshould be transferred to Re-investment office account (0387) and credit re-invested amount into newly opened account/certificate.

Remaining amount can either be credited to savings account or paid back by cheque.

SB10(b) and KYC documents should be sent to CPC of the office where payment is being made. CPC will scan the document and attach the same with CIF.

6.Scenario:- When any claimant presents documents for preferring claim in respect of any MIS/SCSS/TD/RD/PPF account(s) stand at another CBS Office alongwith claim application form for payment or transfer of account(RD/TD/SCSS) in the name of claimant.

Deat should be noted in the relevant 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 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 sent to CPC of the office where payment is being made or claim is sanctioned. CPC will scan the document and attach the same with CIF.

7. Scenario:-A Certificate holder whose certificates stand at CBS post office wants payment of matured certificates at non CBS Post Office .

When a certificate holder attends non-CBS post office, he/she should be asked to submit application on plain paper in duplicate requesting payment at nonCBS post office and his/her contact number. He/she should be asked to submit original certificates duly signed on the back. The certificate holder should be identified with fresh KYC documents. Postmaster of the post office(Non CBS) will accept KYC documents on the application for payment under dated signatures and send original certificates and application for payment duly accepted under his dated signatures attesting holder’s signature with designation stamp by service Insured Post to the Postmaster ofCBS Post Office from where certificates were purchased. He will enter details of certificates and holder (including contact number) in a register to be maintained in manuscript.

When Insured is received at CBS Post Office, Postmaster will open the same and enter details of certificates and holder (including contact number) in a register to be maintained in manuscript. (CBS)Postmaster, after satisfying that Postmaster of Post Office(Non CBS) from where insured was received has attested signatures of holder on the application, will transfer original certificates to the CBS counter. Further process for discharge of certificates will be followed at the CBS Post Office. A crossed Postmaster cheque for the maturity amount will be prepared in the name of holder and handed over to the Postmaster. Entry of the cheque will be made in the same register and cheque will be sent by service Insured Post to the Postmaster of the Post Office(non CBS) from where certificates were received. Insured Letter number and receipt should be entered in the register and receipt will be pasted against the entry.

On receipt of Insured letter at the Post Office(non CBS) from where certificates were sent, Postmaster will open the Insured Letter, enter Insured Letter number and cheque number as well as date in the register against the entry which was made at the time of sending the certificates. Certificate holder should be called over phone to receive the cheque.  When certificate holder attends post office, cheque should be handed over to him under receipt in the register against the relevant entry.

8. Scenario:- Application for transfer of certificates sent for verification by non CBS post office and on receipt of verification, post office migrated CBS. 

The Postmaster will send such requests to the divisional head who will inform the certificate holder and arrange payment from the nearby non-CBS Post Office.

9.Scenario:- Advice of Transfer(AT) issued by a non CBS HO received at CBS HO or SO.

Account Holder should be contacted and requested to provide name of any nearby non CBS Post Office for opening of account. On getting such information, account will be opened on transfer in that office.

10.Scenario:- An account holder applies for transfer of account to any other HO or SO at CBS or Non CBS Post Office.Postmaster or Sub Postmaster of SO/HO 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 not a CBS Post Office. If SO is completely manual and unable to see the list, 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. Account holder should be contacted and asked to submit name of any nearby non CBS post office.

11. Scenario:- A Certificate holder of CBS Post Office, lost certificates and wants to get duplicate certificates issued.

In such cases, certificate holder can apply for issue of duplicate certificates only at the CBS post office from where, certificates were issued. Process of issue of duplicate certificates should be started and completed by that CBS Post Office only.

(Procedure )

1.Move the inventory of Duplicate Certificates (if available) of same scheme to the user id from which duplicate certificate is getting printed. Otherwise, fresh certificates will be taken from the existing inventory. 

2. GO to HDUDRP and provide details like account number /cif id for which certificate is getting printed.

3. HDUDRP will take the current inventory i.e either normal or duplicate certificates which is available with the user.

4. If certificates are actually printed through printer, the user is able to see DUPLICATE on the certificates. If certificates are not printed then a Rubber Stamp of “Duplicate” should be placed on the certificates where normal certificates are used.

5. After this, new certificate number will be available under the account number. Use NSCAM menu to confirm that new certificate numbers are replaced with lost certificates.

6. If the any holder/customer come with old certificates, while closure, system will not those certificates in the closure menu .

7. Old certificate number will not be reflected in the system and user can’t be able to close the account.

12.Scenario:- An account holder of a CBS post offices wants to get duplicate Passbook issued.

Duplicate Passbook can be issued by any CBS Post Office after following the laid down procedure of issue of duplicate Passbook.13. 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 transaction either Financial or Non-Financial at any CBS Post Office.

Transaction will appear in the Report No.19 i.eCommon 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 required KYC documents of the account holder (s) have been taken. 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, payment should be made by crossed cheque or credit to Savings Account (where appropriate KYC documents have been taken). Non Financial transaction means modification in account or CIF. This can also be initiated at

any CBS Post Office but it should be supported by documentary proof. This document and application for modification (to be taken on A4 size paper) should be sent to concerned CPC where modification is being done for scanning and attaching to CIF. Please ensure that all Financial or Non Financial Transactions should be verified by Supervisor/SPM at the same office and same time when initiated.

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, total maturity value+interest should be credited/deposited under Office Account 0387 and then amount to be invested should be debited/withdrawn from this account and credited/deposited in the concerned new account. Remaining amount can be paid by cash/cheque from this account to the customer.

One Supervisor/SPM should take print out of the ledger copy of this office account by invoking HACLPOA or Office Account LOT and cross verify all debits and credits with corresponding re-investment entries in the LOTs on daily basis. Supervisor has to ensure that balance at the end of each day in this account is Zero i.e against all the credits entered for re-investment, amount should be debited from this account and concerned accounts are credited or remaining amount is paid

Changes in statutory Rules of POSB in the backdrop of implementation of CBS

SB ORDER 05/2014

No.113-01/2011-SB

Government of India

Ministry of Communications & IT

Department of Posts

Dak Bhawan, Sansad Marg,

New Delhi-110001.

Dated: 20.05.2014

ADDENDUM

To
Ail Heads of Circles/Regions
Addl. Director General, APS, New Deliil.

Sub: - Changes in statutory Rules of POSB in the backdrop of implementation of CBS- reg.

Sir / Madam,

In continuation of this office letter of even number dated 24.3.2013 on the above
subject, the undersigned Is directed to forward copies of Original Notifications received from
Min. of Finance, Department of Economic Affairs (Budget Division), New Delhi for circulation.
Copies of following notifications are enclosed:-

(i) GSR 219 (E) POSB General (Amendment) Rules, 2014.
(ii) GSR 220 (E) POSA (Amendment) Rules, 2014.
(iii) GSR 221 (E) PORD (Amendment) Rules, 2014.
(iv) GSR 222 (E) POTD (Amendment) Rules, 2014.
(v) GSR 223 (E) Post Office Monthly Income Account (Amendment) Rules, 2014.
(vi) GSR 224 (E) SCSS (Amendment) Rules, 2014
(vli) GSR 225 (E) PPF Scheme (Amendment) Rules, 2014.
(viii)GSR 226 (E) NSC (Viil issue) (Amendment) Rules, 2014.
(ix) GSR 227 (E) NSC (IX Issue) (Amendment) Rules, 2014.

2. it is requested that these Notifications may be circulated to all Pest Offices for
information and necessary action.

3. This issues with the approval of DDG (FS).

[DOWNLOAD]

CADRE RESTRUCTURING COMMITTEE MEETING ON 28.04.2014

GDS - DA ORDERS W.E.F. 01-01-2014

DEPARTMENT OF POSTS LETTER NO. 14-01 / 2011 - PAP DATED. 16th APRIL, 2014

Payment of Dearness Allowance to Central Government Employees

Orders for Dearness Allowance to Central Government Employees

Department of Post - SB Orders 2012

Department of Post - SB Orders 2012

S.B Order No	Description
1	Action Plan to “Identify potential areas of corruption related to Departmental activities/functions and develop action plan to mitigate them”- implementation of the action plan regarding.
2	Taking of Know Your Customer(KYC) documents at the time of credit of maturity value and cash withdrawal from savings account opened without KYC Documents.
3	Release of Sanchaya 6.6.1
4	Revision in Interest Rates of Small Savings Schemes w.e.f 1st April 2012.
5	Revision in Interest Rates of Small Savings Schemes w.e.f 1st April 2012
6	Introduction of Facility of transfer of quarterly interest of Sr. Citizen Saving Sheme  to any bank account through  ECS –release of SCSS &  MIS Ver 2.5.5 and Ver 3.1.5 by SDC kolkata
7	Circulation of Notification issued by Min of Finance (DEA) notifying the changes in interest rates of different saving schemes effective from 01.04.2012 regarding
8	Settlement of claims  where the claimant or near relatives  are residing or depositor died in abroad
9	Introduction of the depositor at the time of opening of saving account
10	Change in text of column No.2 printed in the standarized uniform savings bank passbook from page No.2 to 24
11	Measure to taken for prevention of frauds
12	Revision in interest Rates of small savings Scheme w.e.f  1st April 2012-Interest tables of Time Deposit accounts opened on or after 01.04.2012
13	Extension of facility of withdrawal of quarterly interest of SCSS accounts through Money to MIS accounts-reg
14	Circulatuion of master Circular NO.1 on Anti Money laundering
15	Problems in Sanchay Post software in handling extended Sr. Citizen savings scheme Accounts
16	Purchase of NSCby an adult on behalf of Minor –a clarification regardin

Acceptance of business from SAS Agents regarding - Addendum

SB order 06 /2013 dated 27.03.2014 Acceptance of business from SAS Agents regarding - Addendum wherein the commission amount will be paid to the SAS Agent based on the verification ACG-17. If the instructions not followed on preparation of ACG-17, the investment treated as Direct Investment and no commission to be paid to the Agent

Changes in Statutory Rules of POSB in backdrop of Implementations of CBS

Gazette Notification for Core Banking Solution in Post Offices dated 13.03.2014

[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II,

SETCION 3, SUB-SECTION (i)]

MINISTRY OF FINANCE

(Department of Economic Affairs)

NOTIFICATION

New Delhi, the 1Z March, 2014

G.S.R_( E ). In exercise of the powers conferred by section 15 of the Government Savings Bank Act, 1873 (5 of 1873), the Central Government hereby makes the following rules further to amend the Post Office Savings Bank General Rules, 1981, namely:-

1. (1) These rules may be called the Post Office Savings Bank General (Amendment) Rules, 2014.

(2) They shall come into force on the date of their publication in the Official Gazette.

2. In the Post Office Savings bank General Rules, 1981, hereinafter referred to as the said Rules in

Rule 2, after clause (v), the following clause shall be inserted, namely:-

(w) “Post Office with Core Banking Solution platform” means Post Office Savings Bank working on Core Banking Solution software.

3. In the said Rules, in Rule 4, after Sub-Rule (4), the following Sub-Rule shall be inserted,

namely:-

“(5) In case, of an account standing at any Post Office with Core Banking Solution platform,

deposit may be made at any other post office with Core banking Solution platform within the limits

prescribed and by paying such fee as may be specified by the Central Government by notification

in the official Gazette.”

4. In the said Rules, in Rules 5, ifi sub-rule (1), after clause (e) , the following clause shall be

inserted, namely:-

(i) “(f) in the accounts standing in post offices with Core Banking Solution platform, the

deposit may be made by any electronic mode.”

(ii) for sub-rule (2), th� following sub-rule shall be substituted namely:-

“(2) Each deposit shall be accompanied by a pay-in-slip provided that at any Post Office

on Core Banking Solution platform, the deposit shall be accepted by any electronic mode.”

5. In the said rules, in rule 6, sub-rule (3) shall be numbered as clause (i) thereof and after clause (i)

as so numbered,

The following clause shall be inserted namely:-

(ii) “In case of an account standing at any post office with Core Banking Solution platform in place, the Post Office Savings Bank shall on the request from the depositor or otherwise may issue Automated Teller Machine or debit card to the savings account holder on payment of such fee as may be specified by the Central Government by notification in the official Gazette” and the account holder having account in Post Offices with Core Banking Solution Platform may also withdraw money by using any electronic mode.”

6. In the said Rules, in Rule 8 in sub-rule (i), the following provisos shall be inserted, namely:-

(i)“Provided that in post offices working on Core Banking Solution platform, a statement of account may be issued in lieu of passbook at the option of the customer on payment of such fees

specified by the Central Government by notification in the official Gazette.”

“Provided further that balance and transactions shown in the Passbook or statement of account shall be for the information of the depositor.”

(ii) for sub rule (4), the following sub-rule shall be substituted, namely :-

“(4) The passbook shall ordinarily be presented for all withdrawals or deposits made at the counter and in case, deposits or withdrawals are made by using cheque or any electronic mode, the passbook, wherever issued, may be presented to the Post Office Savings Bank as soon as

possible thereafter for bringing it up-to-date.”

7. In the said rules, in rule 15, for clause (a), the following clause shall be substituted, namely:-

“(a) responsible to a depositor for any fraudulent withdrawal by a person obtaining possession of the passbook or Automated Teller Machine or Debit card or a cheque from the cheque book of the depositor or by using any electronic mode of withdrawal.”

F. No. 2/7/2012/NS-II1

Note; The principal rules were published in the Gazette of India, Extraordinary Part II, section 3, sub-section (i) vide number G.S.R. 662 ( E ), dated the 17*� December, 1981, and subsequently amended vide numbers G.S.R. 348 ( E ) dated the 10’� May 2002 and G.S.R. 586( E ) dated the

25 July, 2003,



[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II-

SECTION 3, SUB-SECTION (i)]

MINISTRY OF FINANCE

(Department of Economic Affairs)

NOTIFICATION

New Delhi, the \ 3 March, 2014

G.S.R_(E). In exercise of the powers conferred by section 15 of the Government Savings Bank Act, 1873 (5 of 1873), the Central Government hereby makes the following rules further to amend the

Post Office Savings Account Rules, 1981, namely:-

1. (1) These rules may be called the Post Office Savings Account (Amendment) Rules, 2014.

(2) They shall come into force on the date of their publication in the Official Gazette.

2. In the Post Office Savings Account Rules, 1981,in Rule 9, for sub rule (2) the following sub-rule shall be substituted, namely:-

“(2) When payment of interest is not involved and when final withdrawal on closure of an Account is made at Post Offices on Core Banking Solution platform, such withdrawal on closure may be allowed by a Sub-Savings Bank without obtaining the prior sanction of the Head Savings Bank.”

F. No. 2/7/:�2/NS-II]

(Raj at

Joint Sec

Note: The principal rules were published in the Gazette of India, Extraordinary Part II, section 3, sub-section (i) vide number G.S.R. 663 ( E ), dated the 17“� December, 1981, and subsequently amended vide numbers G.S.R.8 (E), dated the 2nd February 1987, G.S.R. 948 (E ), dated the December 1984; G.S.R. 5(E) dated the 5‘� January 1989; G.S.R. 430 (E ) dated the 6*'� April, 1989; G.S.R. 695 (E ) dated the 17'" July, 1989; G.S.R. 813(E) dated the 4‘" September, 1989; G.S.R. 1001 ( E ) dated the 8'" November, 1989; G.S.R. 499 ( E ) dated the 8'" July, 1993; G.S.R. 165 (E ) dated the 28‘" February, 2000; G.S.R. 349 (E ) dated the 10'" May 2002; G.S.R. 431 (E ) dated the 14'" June, 2002; G.S.R. 587 (E ) dated the 25'" July, 2003; G.S.R. 286 ( E ) dated the 13‘" May 2005; G.S.R. 509 ( E ) dated the 27'" July, 2005; G.S.R. 481 ( E) dated the 11'" July, 2007; G.S.R. 478 ( E ) dated the 26'" June, 2008, G.S.R. 611 (E ) dated the 26'" August, 2008; G.S.R. 748 ( E ) dated the 13'" October, 2009; G.S.R. 882 ( E ) dated the 3'" November, 2010; G.S.R. 926 ( E ), dated the 24'" December, 2012 and G.S.R. 323 ( E ), dated the 20'" May 2013.



[TO BE PUBLISHED IN THE GAZETTE OF INDIA: EXTRAORDINARY, PART II-

SECTION 3, SUB-SECTION (i)]

MINISTRY OF FINANCE

(Department of Economic Affairs)

NOTIFICATION

New Delhi, the 13) March, 2014

G.S.R,_(E). In exercise of the powers conferred by section 15 of the Government Savings Bank

Act, 1873 (5 of 1873), the Central Government hereby makes the following rules further to amend the

Post Office Recurring Deposit Rules, 1981, namely:-

1. (1) These rules may be called the Post Office Recurring Deposit (Amendment) Rules, 2014.

(2) They shall come into force on the date of their publication in the Official Gazette.

2. In the Post Office Recurring Deposit Rules, 1981,

(i) in rule 6, for sub rule (4), the following sub-rule shall be substituted, namely;-

"(4) Where a deposit is made by means of a cheque, pay order or demand draft, the date of its clearance into the Post Office Savings Bank shall be deemed to be the date of deposit.”

(ii) in Rule 7, for sub-rule (2), the following sub-rule shall be substituted, namely:-sub rule (2)

of Rule 7 shall be substituted by the followings:-

‘‘(2) If there are more than four defaults, the account shall be treated as discontinued and revival of the account shall be permitted only within a period of two months from the month of fifth default and in case a depositor fails to deposit next monthly deposit within the time prescribed in sub-rule (3) of rule 6, a default fee at the rate of five paise for every five rupee per defaulted deposits shall also be paid along

with regular monthly deposit.

(3) An account, in which all defaulted deposits are deposited with prescribed default fee and prescribed time as specified in sub-rule (2) shall not be treated as discontinued.

“Provided that notwithstanding anything contained in sub-rule (1),sub-rule(2) in the case of personal of Defence Services ( excluding Civilian Defence Employees).

(i) if there are not more than seven defaults in the monthly deposits, the depositor may, at his option, extend the maturity period of the account by as many months as the number of defaults and deposit the

defaulted deposits during the extended period.”

-----------------------------------------------------Page 4-----------------------------------------------------



ii) "If there are more than seven defaults in the monthly deposits, the account shall be treated as discontinued and the revival of the account shall be permitted only within a period of two months from the month of eighth default, subject to payment of default fee and defaulted deposits.

F. No. 2/7/2012-NS-II]

(Raj at Bhafgava)

Joint Secpfi�ry

Note : The Principal rules were published in the Gazette of India, Part 11, Section 3, sub-section (i) vide G. S. R. 666(E), dated the 17'� December, 1981, and subsequently amended vide: - G.S.R. 301(E), dated the 1�' April, 1982, G.S.R. 258(E), dated the ll“� March, 1983, G.S.R. 62(E), dated the 14“" February, 1984, G.S.R. 95(E), dated the February, 1986, G.S.R. 194(E), dated the 13“’ February, 1986, G.S.R. 363(E), dated the April, 1987, G.S.R. 39(E), dated the Id"’ January, 1988, G.S.R. 458(E), dated the 15"’ April, 1988, G.S. R. 708(E), dated the 2E’ July, 1989, G.S.R. 16(E), dated the 9’" January, 1990, G.S.R. 190(E), dated the 27"’ March, 1991, G.S.R. 579(E), dated the 12"’ September, 1991, G.S.R. 918(E), dated the ll"’ December, 1992, G.S.R. 42(E). dated the D’ February, 1993, G.S.R. 587(E), dated the 2"" September, 1993, G.S.R. 2(E), dated the 1st January, 1999, G.S.R. 748(E), dated the 4th November, 1999, G.S.R. 44(E), dated the 15"’ January, 2000, G.S.R. 152(E), dated the D’ March, 2001, G.S.R. 160(E) dated the March, 2002, G.S.R. 514(E), dated the 23rd July, 2002, G.S.R. 662(E), dated the 23’" September, 2002, G.S.R. 175(E), dated the E’ March, 2003, G.S.R. 588(E), dated the 25"’ July, 2003, G.S.R. 838 (E), dated the 27"’ December, 2004, G.S.R. 480(E), dated the 26"’ June, 2008, G.S.R. 740(E), dated the 4"’ October, 2011, G.S.R. 843(E) dated the 25"’ November, 2011, G.S.R. 320 (E), dated the 25"’ April,2012and G.S.R.398( E) dated the 25’" June 2013.

-----------------------------------------------------Page 5-----------------------------------------------------



[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II,

SECTION 3, SUB-SECTION (i)]

MINISTRY OF FINANCE

(Department of Economic Affairs)

NOTIFICATION

New Delhi, the 13 March, 2014

G.S.R_(E). In exercise of the powers conferred by section 15 of the Government Savings Bank Act, 1873 (5 of 1873), the Central Government hereby makes the following rules further to amend the Post Office Time Deposit Rules, 1981, namely:-

1. (1) These rules may be called the Post Office Time Deposit (Amendment) Rules, 2014.

(2) They shall come into force on the date of their publication in the Official Gazette.

2. In Post Office Time Deposit Rules, 1981,

(I) in Rule 6, sub-rule (3), after clause (b), the following clause shall be inserted, namely:-

“(c):- where a deposit in an account standing at the post office working on Core Banking platform

become due for repayment, the account shall be automatically renewed from the date of maturity

for the same period for which it was opened initially and the deposit shall be eligible for rate of

interest applicable on the date of renewal,”

in rule 8

(a) clause (a) shall be omitted;

(b) for clause (aa), the following clause shall be substituted, namely:-

(aa) Where a deposit in 1-year, 2-year, 3-year or 5-year account is withdrawn prematurely before the expiry of 1 year from date of deposit, interest at the rate applicable to post office savings account from time to time shall be payable to the

depositor.”

F

No. 2/7/2012/NS-II]

(Rajat Bhargavfa)

Joint Secretary

Note : The Principal rules were published vide G.S.R. 664(E), dated the 1?"’ December, 1981,

-----------------------------------------------------Page 6-----------------------------------------------------



and subsequently amended vide: - G.S.R. 300(E), dated the April, 1982, G.S.R. 257(E), dated the 11* March, 1983, G.S.R. 502(E), dated the 9* July, 1984, G.S.R. 418(E), dated the 10* May, 1985, G.S.R. 193(E), dated the 12* February, 1986, G.S.R. 362(E), dated the 1st April, 1987, G.S.R. 1005(E), dated the 23'�‘* December, 1987, G.S.R. 353(E), dated the 18* March, 1988, G.S.R. 507(E), dated the 23'�'* May, 1990, G.S.R. 191(E), dated the 27* March, 1991, G.S.R. 580(E), dated the 12* September, 1991, G.S.R. 727(E), dated the 6th December, 1991, G.S.R. 431(E), dated the 24* April, 1992, G.S.R. 586(E), dated the 2"�* September, 1993, G.S.R. 118(E), dated the 8* March, 1995, G.S.R. 5(E), dated the January, 1999, G.S.R. 43(E), dated the 15* January, 2000, G.S.R. 151(E), dated the E' March, 2001, G.S.R. 159(E), dated the E‘ March, 2002, G.S.R. 174(E), dated the E' March, 2003, G.S.R. 589(E), dated the 25* July, 2003, G.S.R. 286(E), dated the 13* May, 2005, G.S.R. 479(E), dated the 26* June, 2008, G.S.R. 742(E), dated the 4* October, 2011, G.S.R. 846(E), dated the 25* November, 2011, G.S.R.323 (E), dated the 25th April, 2012 and G.S.R. 400 (E ) dated the 25* June, 2013.



[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II,

SECTION 3, SUB-SECTION (i)]

MINISTRY OF FINANCE

(Department of Economic Affairs)

NOTIFICATION

New Delhi, the 13 March, 2014

G.S.R._(E). In exercise of the powers conferred by section 15 of the Government Savings Bank Act, 1873 (5 of 1873), the Central Government hereby makes the following rules further to amend the Post Office Monthly Income Account Rules, 1987, namely:-

1. (1) These rules may be called the Post Office Monthly Income Account (Amendment) Rules, 2014..

(2) They shall come into force on the date of their publication in the Official Gazette.

2. In Post Office Monthly Income Account Rules, 1987,

(i) rule 6 shall be omitted.

(ii) in rule 8, in sub-rule (3), the following proviso should be inserted namely:-

"Provided that in case the account stands at the post office working on Core Banking platform and if so authorised, interest payable monthly shall be credited by the post office in the savings account of the depositor standing at any such post office or any branch of a bank.”

F. No. 2/7/2012/NS-II]

(Raj at Bhargava)

Joint SecKetary

Note : The Principal rules were published vide G. S. R. 701(E), dated the 10*'’ August, 1987, and subsequently amended vide: - G.S.R. 805(E), dated the 2E‘ July, 1988, G.S.R. 46(E), dated the 20*” January, 1989, G.S.R. 581(E), dated the 12*” September, 1991, G.S.R. 430(E), dated the 24*” April, 1992, G.S.R. 390(E), dated the 29*” April, 1993, G.S.R. 585(E), dated the 2"“ September, 1993, G.S.R. 5(E), dated the E* January, 1999, G.S.R. 45(E), dated the 15*” January, 2000, G.S.R. 80(E), dated the E* February, 2000, G.S.R. 613(E), dated the 18*” July, 2000, G.S.R. 153(E), dated the E* March, 2001, G.S.R. 161(E), dated the E* March, 2002, G.S.R. 350(E),dated the 10“’ May, 2002, G.S.R. 176(E), dated the E' March, 2003, G.S.R. 758(E), dated the 23��� September, 2003, G.S.R. 288(E), dated the May, 2005, G.S.R. 59(E), dated the 10“� February, 2006, G.S.R. 521(E), dated the August, 2007, G.S.R. 763(EX dated the 8'*� December, 2007, G.S.R. 741(E), dated the 4‘*’ October, 2011, G.S.R.845 (E), dated the 25'*’ November, 2011,G.S.R.322 (E ), dated the 25‘'’ April, 2012 and G.S.R. 399 (E ), dated the 25“� June, 2013.



[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II,

SECTION 3, SUB-SECTION (i)]

MINISTRY OF FINANCE

(Department of Economic Affairs)

NOTIFICATION

New Delhi,�arch, 2014

G.S.R._(E). In exercise of the powers conferred by section 15 of the Government Savings Bank Act, 1873 (5 of 1873), the Central Government hereby makes the following rules further to amend the Senior Citizens Savings Scheme Rules, 2004, namely:-

1. (1) These rules may be called the Senior Citizen Savings Scheme (Amendment) Rules, 2014.

(2) They shall come into force on the date of their publication in the Official Gazette.

2. In Senior Citizen Savings Scheme Rules, 2004 -

(a) in rule 5, in sub-rule (i), for clause (a), the following clause shall be substituted, namely’’-

(i) “(a) In cash, if the amount of deposit is up to rupees one lakh;

(ii) after clause (b), the the following clause shall be inserted namely;-

"(c) by any electronic mode if the account is opened in a deposit office working on Core Banking Solution platform.”

(b) In rule 7 for sub-rule (2), the following sub-rule shall be substituted, namely:-

(i) . (21 “Interest shall be payable from the date of deposit to 31®' March/30"' June/30"' September/31 December on 1®' working day of April/July/October/January as the case may be, in the first instance and thereafter, interest shall be payable on 1®' working day of

April/July/October/January.

(ii) in sub-rule (4), the following proviso shall be inserted namely;-

“Provided that where deposit office is working on Core Banking platform, interest payable on due dates as specified in rule (2), shall be credited by the deposit office in the savings account of the depositor standing at any such deposit office or any branch of a bank."

F.

1�0. 2/J/2�12/NS-II]

(Rajat Bha�va)

Joint Secretary



Note; The Senior Citizens Savings Scheme Rules, 2004 were published in the Gazette

of India (Extraordinary) vide notification number G. S. R. 490(E), dated the 2"'� August,

2004 and subsequently amended vide G. S. R. 706(E), dated the 27*�� October, 2004,

GSR 176(E), dated the 23�'' March, 2006, GSR 390(E), dated the 24**’ May 2007,G.S.R.

639 ( E ), dated the 28**’ July, 2010, G.S.R. 770( E ), dated the 19**’ October,

2011,G.S.R. (E ) 321 dated the 25**’ April 2012 and G.S.R. 402 ( E ), dated the 25**’

June 2013.



[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II,

SECTION 3, SUB-SECTION (i)]

MINISTRY OF FINANCE

(Department of Economic Affairs)

NOTIFICATION

New Delhi, the l3 March, 2014

G.S.R._( E ). In exercise of the powers conferred by section 3 of the Public Provident Fund Act, 1968 (23 of 1968), the Central Government hereby makes the following rules further to amend the Public Provident Fund Scheme 1968, namely:-

1. (1) These rules may be called the Public Provident Fund Scheme (Amendment) Rules, 2014.

(2) They shall come into force on the date of their publication in the Official Gazette.

2. In Public Provident Fund Scheme in paragraph 4, for sub-paragraph (1), (2), (3) and (4) the following shall be substituted, namely;-

“4. (1) Every individual desirous of subscribing to Fund under the Scheme for the first time either on his own or on behalf of a minor of whom he is the guardian shall apply to the Accounts Office in Form A form, together with the amount of initial subscription which shall be minimum of Rs.100.

(2) On receipt of an application under sub-paragraph (1), the Accounts Office shall open an account in the name of the subscriber and issue a passbook to him, wherein all amount of deposits, withdrawals, loans and repayment thereof together with interest due shall be entered over the signature of the Accounts Officer with the date stamp.

Provided that in case of Post Offices working on Core Banking solution platform, a statement of account shall be issued in place of passbook at the discretion of account holder.

(3) The subscriber shall deposit his subscription with the Accounts Office with challan in Form B, or as near thereto as possible and the counterfoil of the challan shall be returned to the depositor by the Accounts Office, duly evidenced by receipt. And in case of deposits made by cheque or draft or pay order, the Accounts Office may issue a paper token to the depositor pending realization of the proceeds.

(4) Every subscription shall be made in cash or crossed cheque or draft or pay order in favour of the Accounts Office at the place at which that office is situated.

“Provided that where the Account office is working on Core Banking platform, every subscription shall be made either by cash, cheque, draft, pay orders or any electronic mode in any Account office working on Core Banking Solution Platform.”

-NS-II]

(Raj at Bhar�ya)

Joint Secr�ry



Note:- The Principal notification was published in the Gazette of India vide number S.O. 48(E), dated the 15�'’ January, 2000 and subsequently amended vide S.O. 192(E), dated the E* March 2001, S.O. 271(E), dated the E‘ March, 2002, S.O. 250(E), dated the E‘ March, 2003, S.O. 2681(E), dated the 25*'’ November 2011, S.O.904 (E), dated the 25* April 2012. And G.S.R. 401 (E), dated the 25* June 2013.



[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II,

SECTION 3, SUB-SECTION (i)]

MINISTRY OF FINANCE

(Department of Economic Affairs)

NOTIFICATION

New Delhi, the 13 March, 2014

G.S.R_( E ). In exercise of the powers conferred by section 12 of the Government Savings

Certificates Act, 1959 (46 of 1959), the Central Government hereby makes the following rules further to

amend National Savings Certificates (Vlll Issue), 1989 namely:-

1. (1) These rules may be called the National Savings Certificates (Vlll Issue) (Amendment) Rules,

2014.

(2) They shall come into force on the date of their publication in the Official Gazette.

2. In National Savings Certificates (Vlll Issue) Rules -

(i) In rule 7, in clause (iv), the following clause shall be substituted, namely:-

“(v) by any electronic mode in case of certificates are purchased from the post offices working on Core Banking Solution platform.”

"(4) In every case of transfer, name of previous holder shall be rounded and name of new holder shall be written under the dated signature of the authorized Postmaster along with his designation and date stamp of the post office.”

(ii) after sub-rule (5), the following sub-rule shall b;e inserted, namely:-

“(5) Transfer of certificate shall be allowed only once from the date of issue to the date of

discharge of the certificate.”

(iii) rule 23 shall be omitted.

F. No. 2/7/2012/NS-II]

(Raj at BhargaLa)

Joint SecroJary

(i)in rule 11, for sub-rule(4), the following sub-rule shall be substituted, nameiy:-



Note : The Principal rules were published vide G.S.R. 496(E), dated the May, 1989 and subsequently amended vide G.S.R. 508(E), dated the 23�� May, 1990, G.S.R. 120(E), dated the 8‘*’ March, 1998, G.S.R. 7(E), dated the January, 1999, G.S.R. 491(E), dated the 6*'’ July, 1999, G.S.R. 47(E), dated the IS**’ January, 2000, G.S.R. 156(E), dated the March, 2001, G.S.R. 572(E), dated the 2"'* August, 2001, G.S.R. 163(E), dated the 1'‘ March, 2002, G.S.R. 711(E), dated the 17“� October, 2002, G.S.R. 179(E), dated the March, 2003, G.S.R. 590(E), dated the 25* July, 2003, G.S.R. 591(E), dated the 25* July, 2003, G.S.R. 820(E), dated the 16* October, 2003, G.S.R. 289(E), dated the 13* May, 2005, G.S.R. 744(E), dated the 4* October, 2011, G.S.R. 842(E) dated the 25* November, 2011, G.S.R. 318(E), dated the 25* April, 2013 and G.S.R.397 ( E ), dated the 25* June 2013.



[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II,

SECTION 3, SUB-SECTION (i)]

MINISTRY OF FINANCE

(Department of Economic Affairs)

NOTIFICATION

New Delhi, the l3 March, 2014

G.S.R._ ( E ). In exercise of the powers conferred by section 12 of the Government Savings

Certificates Act, 1959 (46 of 1959), the Central Government hereby makes the following rules further to

amend the National Savings Certificates (IX Issue), 2011 namely:-

1. (1) These rules may be called the National Savings Certificates (IX Issue) (Amendment) Rules,

2014.

(2) They shall come into force on the date of their publication in the Official Gazette.

2. In National Savings Certificates (IX Issue) Rules -

(i) in rule 7, the following clause shall be inserted, namely:-

“(v) by any electronic mode in case of certificates are purchased from the post offices working on Core

Banking Solution platform.”

(ii) for rule 9, the following rule shall be substituted, namely:-

‘‘9.Certificate in lieu of proceeds of old certificates:- A holder of an old certificate entitled to encash that certificate may make an application in Form 1 for the grant of a certificate under these rules, and on receipt of such an application, there shall be issued to the applicant a certificate under these rules and the date of issue of the certificate shall be the date on which the old certificate duly discharged is

presented..

(iii) in rule 11,

(a) for sub-rule (4), the following sub-rule shall be substituted, namely:-

“(4) In every case of transfer, name of previous holder shall be rounded and name of a new holder shall be written under the signature and date of the authorised Postmaster along with his designation and date stamp of the post office.”



(b) after sub-rule (4), the following sub-rule shall be inserted, namely:-

“5) Transfer of certificate shall be allowed only once from the date of issue to the date of discharge of the certificate”

(ii) rule 23 shall be omitted.

F.No. 2/7/20132/NS-II]

Note:- The Principal rules were published vide G.S.R. 848(E), dated the 29'’’ November, 2011 and subsequently amended vide G.S.R. 219 (E), dated the 25'' April,2012 and G.S.R. 403 ( E ), dated the 25* June 2013.