Category: SB Order 2006

Here it is SB Order 5/2006 – Corrigendum Issued in Clarification of SCSS-2004 Dated 16.03.2006 how to calculate interest for broken period

No.79-8/2004-FS(Voll.II)
Government of India
Ministry of Communications
Department of Posts
(FS Division)

Dated 16.03.2006

To
All heads of Circles/Regions
Addl. Director General APS, New Delhi

Subject:- Senior Citizen Savings Scheme-2004-Clarification

Sir/Madam

1. The Undersigned has been directed to forward herewith a copy of corrigendum issued by Ministry of Finance, Vide letter no. F.No. 2-8/2004-NS-II dated 8th December 2005 on the above subject, forwarded by the nodal ministry to the Department vide letter dated 06.03.2006.
2. It is requested the contents of this Corrigendum may be circulated to all concerned for information, guidance and necessary action.
3. Kindly acknowledge receipt.

Yours faithfully
Manisha Mishra
ADG (BS&SC)

Corrigendum issued by Ministry of Finance, Vide letter no. F.No. 2-8/2004-NS-II dated 8th December 2005 on the above subject

F.No. 2-8/2004-NS-II
Government of India
Ministry of Finance
Department of Economic affairs
(Budget Division)

North Block, Central Secretariat
New Delhi, 8th December 2005

Corrigendum

Subject:- Senior Citizens Savings Scheme,2004(SCSS) – Clarification-Reg.

The clarification issued by this office vide O.M. of even number dated the May 31,2005 on how to calculate interest for broken period( less than a quarter) is hereby modified as under.

For	Read
Interest for any period less than a quarter (as prescribed under the rules) shall be calculated as per the following formula: Number of days X yearly rate of interest 365 or 366 ( in case of leap year)	Interest for any period less than a quarter (as prescribed under the rules) shall be calculated as per the following formula: Number of Days in the period X Interest of the quarter Total number of days in the quarter

1. A number of complaints have been received regarding delay in crediting of interest on due dated under the senior Citizens scheme. It may be ensured that the interest on deposit is credited/paid on due dates as the objective of the schemes is to ensure regular flow of income to the depositors.
2. This issues with the approval of J.S.(Budget)

C.A. Baby
Accounts officer

To
1. The Department of Posts, Dak bhawan, Sansad Marg, New Delhi-110001
2. Shri Prabal Sen , Chief General Manager (DGBA) Reserve bank of India, Central office, Mumbai.

Here It is SB order 4/2006 Which contains Clarification on Nomination through Power of Attorney in Senior Citizen Savings Scheme, SB order Dated 10.03.2006

SB Order 4/2006

No. 79-8/2004-FS(Vol.II)
Government of India
Ministry of Communications
Department of Posts
(F.S. Division)

Dated 10.03.2006

To
All Heads of Circles/Regions
Addl. Director General, APS, New Delhi

Subject:- Senior Citizen Savings Scheme-2004 – Nomination through power of Attorney.

Sir/Madam

1. The undersigned has been directed to forward herewith a copy of clarification issued by Ministry of Finance, Vide letter no. F.No. 15/8/2005/NS-II dated 2nd March 2006 on the above subject.
2. It is requested that the contents of this SB order may be circulated to all concerned for information, Guidance and necessary action.
3. Kindly acknowledge receipt of this letter.

Yours faithfully
Manisha Mishra
ADG (BS&SC)

Nomination through Power of Attorney- Ministry of Finance letter F.No. 15/8/2005/NS-II dated 2nd March 2006

No. F 15/8/2005/NS-II
Government of India
Ministry of Finance
Department of Economic Affairs
(Budget Division)

New Delhi , the 2nd March 2006

To
Shri P Loganathan
Assistant General Manager
Reserve Bank of India
Department of Government & Bank Accounts
Central office
Opp. Mumbai Central Railway Station
Byculla,Mumbai-400008

Subject:- Senior Citizens Savings Scheme-2004- Nomination through Power of Attorney.

Sir
I am directed to refer to your letter No. DGBA.CDD/15.15.001/H7232/2005-06 dated 6th Dec 2005 on above mentioned subject. The matter has been considered in Department of Consultation with Ministry of Law and it is clarified that a person holding power of Attorney cannot sign for the nominee in Nomination form.

Yours faithfully
(PC Singh)
Under Secretary to Govt. of India

Copy to : MS P Gopinath, DDG (FS) Department of Posts, Dak Bhawan, New Delhi:-
1. The issue raised was in case of a nominee residing abroad gives a power of attorney for signing on his behalf in Nomination form, Whether such Nomination form Signed by holder of Power of Attorney can be accepted.

Here it is SB Order -2/2006 Which contains Gazette Notification on Post office Monthly Income Account Rules,2006 F.No. 110-1/2006-FS Dated 01.03.2006

SB Order 2/2006

F.No. 110-1/2006-FS
Government of India
Ministry of Communications
Department of Posts
(F.S. Division)

Dated 01.03.2006

To
All Heads of Circles/Regions,
Addl. Director General, APS, New Delhi

Subject: Post office Monthly income Account Rules, 2006 Reg.

Sir/Madam

1. The undersigned has been directed to forward herewith a bilingual printed copy of Ministry of Finance Notification No. GSR 59(E) dated 10th February 2006 on the subject cited above.
2. it is requested that the contents of this notification may be immediately circulated to all concerned for information, guidance and necessary action.
3. Kindly acknowledge the receipt.

Yours faithfully
Manisha Mishra
ADG (BS&SC)