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SAS/MPKBY agents can deposit in Other Post Offices under Same HO

SAS/MPKBY agents can deposit in Other Post Offices
e.F.No.107-01/2020-SB
Government of India
Ministry of Communication
Department of Post (F.S.Division)
To,
All Head of Circles/Regions
Dak Bhawan
New Delhi-110001
Dated: 23.06.2020.

Sub: – Non-depositing of collections from SAS/MPKBY agents due to Post Offices closed in containment zone-reg.

Madam/Sir,
Various references received from SAS/MPKBY agents/agents association regarding non acceptance of their collection of SAS/MPKBY agents due to some Post Offices closed in containment zone in view of COVID-19. No depositing of collection from agents may leads to many difficulties to the depositors.
Instructions to resolve this issue has already been circulated through CEPT vide email dated 28.03.2020.
It is once again reiterated that in case of any Post Office not working due to COVID-19 or network failure the collection of SAS/MPKBY agents may be accepted in other Post Offices (HO/SO) under the same HO.
Before acceptance of deposit from SAS/MPKBY agents in other Post Office, modify respective agent’s ID and change SOL ID to HO SET ID through HDSAMM menu and save it.
This issues with the approval of competent authority.
Yours Faithfully,
(Devenclea Sharma)
Assistant Director(SB)
SAS/MPKBY agents can deposit in Other Post Offices
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Discontinuation of Authorized Receipt Book for SAS Agents – Proposal

Discontinuation of Authorized Receipt Book for SAS Agents

Discontinuation of Authorized Receipt Book for SAS Agents – Proposal

Urgent/Time Bound

e.F.No. 107-01/2020-SB

Government of India

Ministry of Communication

Department of Post

(F.S.Division)

Dak Bhawan New Delhi-110001

Dated: 19.06.2020.

To

All Head of the Circles.

Sub: – Proposal for discontinuation of Authorized Receipt Book for SAS Agents regarding

Sir/Madam,

The provision for use of MR book was made way back when after investment, agent was to raise a monthly bill for claiming commission along with one copy of receipt of AAR Book. Now vide MoF/DEA O.M. No. 2/7/2012-NS-II dated 23.10.2013, agent commission is paid at source and credited in savings account of the agent instantaneously at the time of opening of account. Further, as per , MoF/DEA O.M. No. 2/4/2014-NS-II dated 01.07.2015, SAS agents can accept cash up to Rs. 20,000 only and it is learnt that to breach this limit, agents are opening multiple accounts within Rs. 20,000.

2. By considering above facts and present process, it is proposed that investment through SAS agents may be restricted through Account Payee Cheque only and Authorized Agent Receipt Book can be discontinued as no cash handling will be involved and there will be no risk for depositor as investment will be made through Account Payee Cheque only. However, there will be no restriction for common citizens/investors to invest through Cash directly at Post Offices or through e-banking as being done currently.

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3. By adopting this process the following benefits may be achieved.

  • Cost of printing and paper on AAR Books can be saved.
  • Safety to depositors money (i.e. Depositor will invest only through Account payee cheque)
  • Stop multiple opening of account (i.e. multiplying of Rs. 20000)
  • Ease of operation for supplying and issuance of AAR Books to each agent in PO.
  • Inconvinience of agent for obtaining AAR Book and filling as well as non use of AAR Book may attract recovery of commission.

4. I am directed to request you kindly provide your comments/input on the proposal for further examination and taking up with nodal ministry (MoF/DEA) by 26.06.2020 positively through email at adsb2.dte@indiapost.gov.in. If no comments/input received by 26.06.2020 from your Circle, it would be presumed that the Circle has no comments to offer.

This issues with the approval of the competent authority.

Yours Faithfully

(Devendra Sharma)

Assistant Director(SB)