• Skip to main content
  • Skip to secondary menu
  • Skip to primary sidebar
  • Home
  • DOPT ORDERS 2020
  • FinMin Orders 2020
  • Railway Orders 2020
  • Contact Us

7th Pay Commission Latest news

Central Government Employees News

  • DOPPW Orders
  • 7th Pay Commission
  • Dearness Allowance
  • Dearness Relief
  • CSD Price List
  • Defence
    • Defence Pension
You are here: Home / Postal Employees Order / Mandatory opening of Savings Account in CBS Post Offices

Mandatory opening of Savings Account in CBS Post Offices

November 5, 2015 pcadmin Leave a Comment

Mandatory opening of Savings Account in CBS Post Offices

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

Dak Bhawan, Sansad Marg,
New Delhi โ€“ 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) โ€“ 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 forgeiting security, any depoistor 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 Bankโ€™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)

Filed Under: Postal Employees Order Tagged With: Postal Employees Order

Also Read

Union Budget 2023 : Live Updates

Union Budget 2023 : Live Updates

February 1, 2023 By pcadmin Leave a Comment

Union Budget 2023 : Live Updates ๐“๐ก๐ข๐ฌ ๐ข๐ฌ ๐ญ๐ก๐ž ๐Ÿ๐ข๐ซ๐ฌ๐ญ ๐›๐ฎ๐๐ ๐ž๐ญ ๐ข๐ง ๐€๐ฆ๐ซ๐ข๐ญ ๐Š๐š๐š๐ฅ. Budget focuses on 7 priorities, โ€˜saptrishi guiding us through Amrit Kaalโ€™ This budget hopes to build on the foundation laid in the previous budget and the blueprint drawn at India at 100. … [Read More...] about Union Budget 2023 : Live Updates

AICPIN for the month of December 2022

AICPIN for the month of December 2022

February 1, 2023 By pcadmin Leave a Comment

AICPIN for the month of December 2022 Consumer Price Index for Industrial Workers for December, 2022 The Labour Bureau, an attached office of the Ministry of Labour & Employment, has been compiling Consumer Price Index for Industrial Workers every month on the basis of retail prices … [Read More...] about AICPIN for the month of December 2022

One Rank One Pension to the Defence Forces Pensioners. orop

One Rank One Pension to the Defence Forces Pensioners.

January 24, 2023 By pcadmin Leave a Comment

One Rank One Pension to the Defence Forces Pensioners. No. 1(1)/2019/D(Pen/Pol)/Vol-IIGovernment of IndiaMinistry of DefenceDepartment of Ex-Servicemen Welfare New Delhi, Dated: 20th January 2023 ToThe Chief of the Defence StaffThe Chief of the Army StaffThe Chief of the Naval StaffThe … [Read More...] about One Rank One Pension to the Defence Forces Pensioners.

Addendum for early closure of all the offices falling in the premises of Parliament House & Rashtrapati Bhawan in c/w forthcoming Republic Day

Addendum for early closure of all the offices falling in the premises of Parliament House & Rashtrapati Bhawan in c/w forthcoming Republic Day

January 23, 2023 By pcadmin Leave a Comment

Addendum for early closure of all the offices falling in the premises of Parliament House & Rashtrapati Bhawan in c/w forthcoming Republic Day No.16/3/2023-JCAGovernment of IndiaMinistry of Personnel Public Grievances and Pensions(Department of Personnel and Training)Establishment (JCA) … [Read More...] about Addendum for early closure of all the offices falling in the premises of Parliament House & Rashtrapati Bhawan in c/w forthcoming Republic Day

Linking of CGHS Beneficiary ID with the ABHA ID

Linking of CGHS Beneficiary ID with the ABHA ID

January 20, 2023 By pcadmin Leave a Comment

Linking of CGHS Beneficiary ID with the ABHA ID F.No. 44/67/MCTC/CGHSGovernment of IndiaMinistry of Health & Family WelfareDepartment of Health & Family Welfare Nirman Bhawan, New DelhiDated the January, 2023 OFFICE MEMORANDUM SUBJECT: Linking of CGHS Beneficiary ID with the ABHA … [Read More...] about Linking of CGHS Beneficiary ID with the ABHA ID

Reader Interactions

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Primary Sidebar

All About Pension

All about Pension

Latest DOPT Orders

Addendum for early closure of all the offices falling in the premises of Parliament House & Rashtrapati Bhawan in c/w forthcoming Republic Day

Early Closure of Offices in connection with Republic Day Parade/Beating Retreat Ceremony/At Home Function during January, 2023

Review of CSS Officers (Under Secretary) under FR 56(j) and Rule 48 of CCS (Pension) Rules, 1972

Year-End- Review of DoPT(Ministry of Personnel, Public Grievances & Pensions)-2022

Extension of the LTC block year 2018-21 (extended) for a period of three months

Latest Finmin Orders

Compendium of Instructions regarding grant of House Rent Allowance to Central Government employees – FINMIN

CGEGIS 1980: Table of Benefits of saving funds from Oct to Dec 2022

Non-Productivity Linked Bonus (ad-hoc bonus) to Central Government Employees for 2021-22

FINMIN : Dearness Allowance to Central Government employees effective from 01.07.2022.

Compendium of Instructions regarding grant of Transport Allowance at double the normal rates to persons with disabilities employed in Central Government

Latest Railway Orders

Implementation of Railway Services (Revised Pay) Rules, 2016

Computer Advance Interest Rate 2022-23 for Railway Employees

Eligibility of married disabled child for family pension โ€“ Railway Board order

Grant of Leave to Probationary officers: Railway Board

Productivity Linked Bonus to all eligible non-gazetted Railway employees for 2020-2021

Categories

Copyright © 2023