Posted on Leave a comment

SB Order 20/2022 – Amendments in CBS Manual

SB Order 20/2022 - Amendments in CBS Manual

SB Order 20/2022 – Department of Posts issued SB Order of Amendments to procedural rule in POSB (CBS) Manual

Letter NumberFile No. 116-17/2017-SB
Letter Dated28.10.2022
Issued byDepartment of Posts (F.S. Division)
Subject of SB OrderAmendments to procedural rule in POSB (CBS) Manual (Corrected
up to 31.12.2021)
Signed ByAsst. Director (SB-I)
Download PDFClick Here

Kerala Circle in Lr. No. SB/Genl Corr./2019 dated 26.09.2022 requested for clarification on rules governing premature closure of PPF accounts. In addition, few referencing errors and conflicting contents have also come to the notice. Accordingly, the contents of the latest POSB (CBS) Manual (Corrected up
to 31.12.2021) circulated in SB Order No. 03/2022 dated 18.02.2022 have been reviewed and it has been decided to amend the following procedural rules as follows.

Rule / Para No.Text of the Amended provisions
117 (11) (iv)Above provisions of paragraphs (i) to Gii) shall also apply on
PPF accounts after maturity on expiry of each extended block
period of five years.
117 (11) (iv)Above provisions of paragraphs (i) to Gii) shall also apply on PPF accounts
after maturity on expiry of each extended block period of five years.
119 (1) (ii)The amount is required for higher education of the account holder, or
dependent children on production of documents and fee bills in confirmation
of admission in a recognized institute of higher education in India or abroad
126 (2) (iv)Withdrawal can be made in one lump or in installments, not exceeding one per
financial year for a maximum of five years subject to the ceiling prescribed in
para (2)(iii) above. i.e. 50% of balance at the credit of the preceding financial
year from the date of first application made for withdrawal.
172 (3) (ii)The claim supported by legal evidence for account/certificate
standing at Time Scale & LSG sub post offices, the respective
SPMs can sanction claim up to the limit prescribed for sanction
of claim “where no nomination exists or no legal evidence
produced” in table below in rule 4 (B) of this chapter.
172 (3) (iii)The claim supported by legal evidence and where no nomination
exists for account/certificate standing at Time Scale & LSG sub
post offices beyond the sanction limit of respective SPMs, those
claims will be forwarded to the Divisional Head after verifying
all particulars of claim and Divisional Head will issue sanction
for such claims irrespective of any limit.
172 (3) (iv)The claim supported by legal evidence for account/certificate
standing at HSG Sub Post Offices / MDGs / HO / GPO, the
respective SPMs/PMs/Sr.PM/CPM/Director can sanction claim
irrespective of any limit in such cases.
172 (9) (ii)The claimant will present the sanction memo in original if the
claim is sanctioned by Divisional Head and if the payment is
desired by cheque. Necessary action will be taken as for the
closure of savings account.

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

This is issued with the approval of competent authority.

Leave a Reply

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