SB Order 39/2021 – Regarding Interest rate for small savings schemes w.e.f. 01.01.2022 shall remain unchanged.
SB Order 39/2021
F. No 113-03/2017-SB(Pt.1) Government of India Ministry of Communications Department of Posts (Financial Services Division)
Dak Bhawan, New Delhi -110001 Dated: 31.12.2021
To
All Head of Circles/Regions
Subject: Revision of interest rates for Small Savings Schemes w.e.f. 01.01.2022
Sir/Madam,
The undersigned is directed to say that, vide memorandum No. 01/04/2019-NS dated 31.12.2021 (copy enclosed) Government of India, Ministry of Finance, Department of Economic Affairs (Budget Division) has informed that the rate of interest on various Small Savings Schemes (National Savings Schemes) for the fourth quarter of financial year 2021-22 (starting from 1st January,2022 and ending on 31st March, 2022) shall remain unchanged from the current interest rates applicable for the third quarter (1st October, 2021 to 31st December, 2021) of Financial Year 2021-2022.
2. It is requested to circulate it to all concerned for information, guidance and necessary action. Same may also be placed on the notice board of all Post Offices in public area.
3. This is issued with the approval of the Competent Authority.
Yours Faithfully
(T.C. VIJAYAN) Assistant Director (SB-1)
Copy to:-
1. Sr. PPS to Secretary (Posts)
2. PS to Director General Postal Services.
3. PPS/ PS to AddI. DG (Co-ordination)/Member (Banking)/ Member (O)/ Member (P)/ Member (Planning & HRD)/ Member (PLI} Member (tech)/ AS & FA
4. Addl. Director General, APS, New Delhi
5. Chief General Manager, BD Directorate / Parcel Directorate / PLI Directorate
6. Sr. Deputy Director General (Vigilance) & CVO) / Sr. Deputy Director General (PAF)
Department of Posts Issued SB Order 38/2021 Regarding Issue of Interest Certificate of POSB Schemes for Account Holders in CBS Post Office – Full Procedure to issue Interest Certificate in Post Office
SB Order 38/2021
No. FS-13/7/2020-FS Government of India Ministry of Communications Department of Posts (Financial Services Division)
Dak Bhawan New Delhi-110001 Dated: 23.11.2021
To,
All Head of Circles/Regions,
Subject of SB Order 38/2021 : – Regarding issue of interest certificate of POSB Schemes for account holders in CBS Post Offices.
Sir/Madam.
References have been received from the customers to provide a consolidated certificate for interest earned in their POSB accounts in a Financial Year for the purpose of filing of Income Tax returns etc.
2. The competent authority has accordingly decided to make necessary amendments in Finacle for generation of consolidated Interest Certificate for account holder in a Financial Year.
3. The necessary amendments have been made in Finacle for generation and printing of Interest Certificate. A detailed procedure for generation and printing of Interest Certificate in Finacle is attached as ANNEXURE for information, guidance and necessary action.
4. This may be circulated to all the offices for information and necessary actions.
5. This is issued with the approval of DDG (FS).
Yours Sincerely (Devendra Sharma) Assistant Director (SB-II)Copy to: –
Sr. PPS to Secretary (Posts)
PS to Director General (Postal Services).
PPS/ PS to Addl. DG (Co-ordination)/Member (Banking)/ Member (O)/ Member (P)/ Member (Planning & HRD)/ Member (PLI)/ Member (Tech)/AS & FA
Addl. Director General, APS, New Delhi
Chief General Manager, BD Directorate / Parcel Directorate / PLI Directorate
Sr. Deputy Director General (Vigilance) & CVO) / Sr. Deputy Director General (PAF)
Director, RAKNPA / GM, CEPT / Directors of all PTCs
Director General P & T (Audit), Civil Lines, New Delhi
Secretary, Postal Services Board/ All Deputy Directors General
All General Managers (Finance) / Directors Postal Accounts / DDAP
Chief Engineer (Civil), Postal Directorate
All Sections of Postal Directorate
All recognized Federations / Unions/ Associations
GM, CEPT for uploading the order on the India Post website.
MOF (DEA), NS-II, North Block, New Delhi.
Joint Director & HOD, ICCW Building,4 Deendayal Upadhyay Marg, New Delhi- 110002
Guard File
Spare copies.
Detailed procedure for generation and printing of Interest Certificate for POSB Schemes in Finacle
Interest Certificate for interest paid/credited may be provided to a POSB account holder. For the purpose depositor has to submit a duly signed written application at the post office for obtaining interest certificate. Post office concerned shall tally the depositor’s signature in Finacle, generate interest certificate and provide to the customer.
Counter PA shall invoke a new menu CINTC menu for interest certificate generation and invoke HPR menu for printing of Interest Certificate In interest certificate the interest paid/credited for POSB accounts will be reflected.
1. Interest certificate is generated based on the CIF ID. 2. Interest certificate can be generated in any post office 3. Interest credited in all the linked accounts under that CIF will be generated 4. This menu is accessible for Counter PA work-class 5. Run Menu CINTC 6. Enter the CIF ID 7. If the CIF is not a primary CIF for any account, then “No account is linked with CIF ID” message will be displayed. 8. Select the Financial year – Previous FY or Current FY radio button 9. Interest certificate can be generated for Previous financial year ie from 01/04/2020 to 31/03/2021 10. Interest certificate for the current Financial Year ie from 01/04/2021 to BOD – is to be used only if demanded. 11 Click on Submit 12. Report will be generated in HPR.
“Interest Certificate generated successfully, Please check in HPR after sometime”
13. In HPR CIF lD will be displayed to select and print the certificate “Consolidated Interest certificate – XXXXXXXX” 14. Pre-migration interest will also be included 15. TDS if deducted will also be printed 16. Account Number, Scheme, Account Status, Interest Paid, TDS collected and Deposit Amount/Balance columns are available I 7. For TDA type of accounts (TD/MIS/SCSS/KVP,NSC) deposit amount will be displayed 18. For SB, PPF and SSA Balance as on Interest credit date (i.e. 31st March/Closure Date) will be displayed. 19. ln case of closed accounts balance before closure will be displayed 20. Postmaster shall affix seal and sign the certificate. 21. “No Records” message will be shown in the certificate, if no interest is credited for any of the accounts linked with given CIF during the selected period.”
Note: – No charges/fee is applicable for issuance of the Interest certificate to a POSB account holder. Depositors may obtain Interest certificate from any CBS post office.
SB Order 37/2021 – TDS amount has been deducted from SCSS interest payments even after submission of form 15G/15H for the current Financial Year – instructions
SB Order 37/2021
F. No. FS-13/7/2020-FS Government of India Ministry of Communications Department of Posts (Financial Services Division)
Dak Bhawan, New Delhi-110001 Dated: 22.11.2021.
To,
All Head of Circles/Regions,
Subject of SB Order 37/2021: – Deduction/Non-deduction of TDS in SCSS accounts in post offices reg.
Sir/Madam,
Reference is invited to this office even letter no. dated 15.09.2021, in which the detailed guidelines were issued for configuration of TDS related parameters in Finacle in respect of SCSS accounts.
2. This office is receiving representations from the SCSS account holder(s) that TDS amount has been deducted from their interest payments even after submission of form 15G/15H for the current Financial Year.
3. I am directed to say that Circles should take necessary action for configuration of TDS/Form 15G/15H/NOPAN status in all SCSS accounts and CIFs.
4. The updated guidelines are again reiterated in respect of configuration of TDS/15G_15H/No PAN in respect of Senior Citizens Savings Scheme (SCSS) account in Finacle for necessary action:
Whenever the SCSS account holder submits form 15G/15H, the concerned post office shall ensure that the details in customers CIF and SCSS account as prescribed in the table below.
All CBS post offices shall ensure that all form 15G/15H already received are updated in Finacle, as TDS deduction is based on the information available in CIF and Account level.
CIF of SCSS account holders should be seeded with valid PAN.
TDS code is configured in CIF level for SCSS account holders. It should be TDSNR/TDSNS only and not as NOTAX
Tax liability will be calculated based on the age of customer and interest payable for the financial year
Tax exemption is applicable only if the account is seeded with 15G/15H
TDS code NOTAX/TDSNR will be converted as TDSNS on the date of customer reaching 60 years of age, by a batch process.
If PAN is invalid, TDS code will be converted as NOPAN/NOPNS by the batch process in Finacle.
Updating of form 15G/15H should be done on the date of receipt of form from the account holder.
15G/15H should be updated using CSCAM menu and verified without fail.
Once 15G/15H is entered, tax category at account level will get updated to ‘No Tax’.
5. The following configuration should be made by all the CBS post offices for configuration of TDS or non-deduction of TDS or NO PAN in all existing SCSS accounts or at the time of opening of new account in SCSS as the case may be:
Age of SCSS Account holder
Status
Configuration to be made at CIF of account holder
Configuration to be made in SCSS account.
Rate of TDS
Conditions for deduction of TDS
If first Account holder’s age is less than 60 years
If form 15G is submitted by the account holder.
TDSNR
TAX
No TAX
if annual interest/ interest paid is more than Rs. 40,000 per annum in all SCSS accounts of an account holder in a financial year.
If form 15G is not submitted by the account holder.
TDSNR
TAX
10%
IF PAN number is not provided by the account holder or if the PAN entered by POs is invalid.
NOPAN
TAX
20%
If first Account holder’s age is 60 years and above.
If form 15H is submitted by the account holder.
TDSNR
Tax Form = 15G or 15H
No TAX
if annual interest/ interest paid more than Rs. 50,000 per annum in all SCSS accounts of an account holder in a financial year.
If form 15H is not submitted by the account holder
TDSNR
TDS
10%
IF PAN number is not provided by the account holder or if the PAN entered by POs is invalid.
NOPANS
TDS
20%
6. Government of India has amended Section 194A of Income Tax Act, 1961 and accordingly the total aggregate interest income in a Financial Year payable in case of all SCSS account holders, who has not attained the age of 60 years has been revised and configured in Finacle from Rs. 10,000/- to Rs. 40,000/- for the purpose of TDS deduction.
7. Non-CBS post offices shall also deduct the TDS from the SCSS account holders aged below 60 years in accordance with the above revised limit.
8. It is the responsibility of concerned CBS post office for updation of form 15G/15H (if submitted) in every financial year and update correct PAN number. Quoting invalid PAN /wrong PAN number may attract penalty u/s 272B of Income Tax Act-1961.
9. It is requested to circulate these guidelines to all Post Offices for information, guidance and ensure necessary action.
10. This is issued with approval of the competent authority.
Yours Sincerely (Devendra Sharma) Assistant Director (SB-II)
Copy to: –
1. Sr. PPS to Secretary (Posts)
2. Sr PPS to Director General Postal Services.
3. PPS/ PS to Addl. DG (Co-ordination)/Member (Banking)/Member (O)/Member (P)/ Member (Planning & HRD)/Member (PLI)/Member (Tech)/AS & FA
4. Addl. Director General, APS, New Delhi
5. Chief General Manager, BD Directorate / Parcel Directorate / PLI Directorate
6. Sr. Deputy Director General (Vig) & CVO) / Sr. Deputy Director General (PAF)
7. Director, RAKNPA / CGM, CEPT / Directors of all PTCs
8. Director General P & T (Audit), Civil Lines, New Delhi
9. Secretary, Postal Services Board/ All Deputy Directors General
10. All General Managers (Finance) / Directors Postal Accounts / DDAP
11. Chief Engineer (Civil), Postal Directorate
12. All recognized Federations / Unions / Associations
13. The Under Secretary, MOF (DEA), NS-II Section, North Block, New Delhi.
14. The Joint Director & HOD, National Savings Institute, ICCW Building, 4 Deendayal Upadhyay Marg, New Delhi-110002
15. GM, CEPT, Mysuru – for uploading the order on the India Post website.
16. ADG (OL) for information and Hindi Translation of SB Order.
Department of Posts issued Addendum in SB order 33/2021 – Clarifications on operation of PM CARES for Children Scheme, 2021 and circulation of provisional Accounting Procedure for ‘PM CARES for Children Scheme-2021
Addendum of SB Order 33/2021
File No. FS-13/4/2021-FS-DOP Government of India Ministry of Communications Department of Posts (F.S. Division)
Dak Bhawan, New Delhi – 110001 Dated: 22.11.2021
ADDENDUM
To
All Head of Circles / Regions
Subject: Clarifications on operation of PM CARES for Children Scheme, 2021 and circulation of provisional Accounting Procedure for ‘PM CARES for Children Scheme-2021– Regarding.
Andhra Pradesh and Tamil Nadu Circles have sought for clarifications on obtaining of KYC documents of District Magistrates (DM) and creation of CIF of DMs in Finacle CBS. In this connection, the following instructions / clarifications are issued for smooth operation of PM CARES for Children Scheme.
(i). As per Rule 3(3) of PM CARES for Children Scheme 2021 notified in Gazette Notification No. G.S.R. 723(E) dated 06.10.2021, for opening of account, the application Form – 1 shall be accompanied with the documents of the eligible beneficiary, as specified by the concerned authority, under the scheme guidelines. Further, DM is a Public Authority and hence, no KYC documents of DM shall be obtained.
(ii). But, the mobile number is mandatory for opening of account. Hence, the Post Offices shall request the DMs to provide a valid Mobile Number in Form – 1 along with the details of Joint Account Holder in Sl. No. 3 of Form – I.
(iii). In connection with the creation of CIF for DMs in Finacle using CCRC menu, required information of DMs for creation of CIF in Finacle may not be available. In such cases, the post offices shall fill the mandatory fields only, with the following information.
Mandatory Fields
Value that can be given
Title
MR/MRS
Last Name
DISTRICT MAGISTRATE XXX* (XXX* – District Name)
Fathers Name/Husband Name
DISTRICT MAGISTRATE
Tax Staff
NO PAN CARD
Date of Birth
01/07/1960
Gender
Others
KYC Status
N – Documents not submitted
Occupation
Others
Form 60/61
Yes
Document Details
Document Type
IDPRF
Document Code
DEFLT
Unique ID
12345
Preferred Flag
Yes
Phone Type- Mobile
Valid Mobile Number provided by DM
Tax Deducted at Source
NOTAX
(iv). In para 2 of the Annexure B of SB Order No. 33/2021 dated 28.10.2021 it is stated that the DM will submit the forms for opening of Basic Savings account at the designated post office at the district HQ. In this regard, it is clarified that the circle may designate any post office preferably General Post Office (GPO) or Head Post Office(HPO) in the district HQ for opening of account. In case, GPO or HPO is not available at the district HQ, circle may identify any sub post office for the purpose of opening of Basic Savings accounts.
(v). It is once again reiterated that the post offices other than Chennai GPO shall only open Basic Savings Account which will be single account in the name of beneficiary and if the beneficiary is minor with DM as the guardian. Chennai GPO is the nodal office for opening the PM CARES for Children Scheme accounts for all beneficiaries. The detailed process is already provided in the SB Order No. 33/2021 dated 28.10.2021.
2. PAF wing has issued provisional Accounting Procedure for ‘PM Cares for Children Scheme-2021’ the same is attached for reference and necessary action.
3. This may be circulated to all the Offices for information and necessary actions.
4. This is issued with the approval of the Competent Authority.
Enclosed: – As above
Yours sincerely (Devendra Sharma) Assistant Director (SB-II)
Copy to:-
1. Director, RAKNPA / Directors of all PTCs / Director, CEPT, Chennai.
2. The Under Secretary, MOF (DEA), NS-II Section, North Block, New Delhi.
3. The Under Secretary, Ministry of Child and Women Development (Child Welfare-II Section), Shastri Bhawan, New Delhi for kind information and it is requested to instruct the DMs to provide valid mobile number in the Account Opening form which is mandatory for opening of account in the Post Office.
4. The Joint Director & HOD, National Savings Institute, ICCW Building, 4 Deendayal Upadhyay Marg, New Delhi-110002
5. GM, CEPT, Mysuru – for uploading the order on the India Post website.
6. ADG (OL), Postal Directorate, New Delhi for information and translation in Hindi language.
It has come to the notice of this office that MPKBY Agents are not supplied with sufficient number of ASLAAS-5 cards by the Appointing Authorities in various States and as such they are not able to update the ASLAAS-5 card numbers in the Agent Portal for generation of Schedule (BuIk List).
2. It is once again reiterated that mentioning of ASLAAS-5 card number in the schedule of deposits being made by the MPKBY Agents is mandatory in accordance with the provisions of MPKBY Agency Rules, 1972. However, to overcome the issue of preparation of schedule (Bulk list) due to non-updation of ASLAAS-5 card numbers in Agent Portal of DOP CBS Finacle System, the following procedure is prescribed till the ASLAAS-5 cards are provided to the Agents or tiII 31.03.2022 whichever is earlier.
i). If any MPKBY Agent desires to deposit the RD schedule (Bulk hst) without mentioning the ASLAAS-5 card number in the post office to which she is attached, such Agent should submit a self-declaration in the prescribed format attached herewith, on each occasion along with the RD Schedule.
ii). The Self-declaration submitted by the MPKBY Agent should be checked by the Post Office to ensure that all the details are filled in correctly and duly signed by the MPKBY Agent concerned from the copy of the letter of authority available in the Post Office. The self-declaration should be date stamped and it should be retained along with the office copy of the Schedule.
iii). Post Office while accepting the schedule from the Agents, should ensure that if the ASLAAS-5 card number is not filled or filled with “Applied for” or with any other Text other than ASLAAS-5 card number, against any of the account numbers in the schedule, the self-declaration by the Agent for such account is submitted. Only after ensuring availability of self-declaration for each and every account for which ASLAAS-5 card number is not mentioned, the schedule should be accepted by the Post Office from the Agents.
iv). The MPKBY Agents should fill “Applied for” in the Update ASLAAS Number option in the Agent Portal, for the accounts, for which ASLAAS-5 card number is not available and desires to make deposit of such account in the post office. This value ‘Applied for’ should be again updated by the Agent with correct ASLAAS-5 card number as and when the ASLAAS-5 card is received by the Agent from the Agent’s Appointing Authority.
3. This may be circulated to all the Offices for information and necessary actions.
4. This is issued with the approval of the Competent Authority.
(T C VIJAYAN) Asst. Director (SB-I)
Copy to:-
1. Sr. PPS to Secretary (Posts)
2. PS to Director General Postal Services.
3. PPS/ PS to Addl. DG (Co-ordination)/Member (Banking)/Member (O)/Member (P)/Member (Planning & HRD)/Member (PLI)/Member (Tech)/AS & FA
4. Addl. Director General, APS, New Delhi
5. Chief General Manager, BD Directorate / Parcel Directorate / PLI Directorate
6. Sr. Deputy Director General (Vig) & CVO) / Sr. Deputy Director General (PAF)
7. Director, RAKNPA / CGM, CEPT / Directors of all PTCs.
8. Director General P & T (Audit), Civil Lines, New Delhi
9. Secretary, Postal Services Board/ All Deputy Directors General
10. All General Managers (Finance) / Directors Postal Accounts / DDAP
11. Chief Engineer (Civil), Postal Directorate
12. All recognized Federations / Unions / Associations
13. The Under Secretary, MOF (DEA, NS-II Section, North Block, New Delhi.
14. The Joint Director & HOD, National Savings Institute, ICCW Building, 4 Deendayal Upadhyay Marg, New Delhi-110002
15. GM, CEPT, Mysuru – for uploading the order on the India Post site
SB Order 35/2021 – Regarding Clarifications with respect to POSB (Post Office Saving Bank Operations) i.e. Issue of Fresh Passbook, Change of Guardian, Presence of Depositor.
SB Order 35/2021
F.No. FS-10/17/2020-FS Govt. of India Ministry of Communications Department of Posts (F.S. Division)
Dak Bhawan, New Delhi — 110001 Dated: 05.11.2021
To
All Heads of Circles / Regions
Subject of SB Order 35/2021 : Clarifications with respect to Post Office Saving Bank Operations – Reg.
***
Madam / Sir,
This office is in receipt of seeking clarifications through RTI and grievances on various issues related to POSB Operations. PTC Madurai and Kerala Circle have also sought for clarifrcations on various issues relating to POSB Operations. Some of such issues were examined and the following clarifications are issued for smooth operation in post offices.
1). Issue of Fresh Passbook in lieu of old passbook in any other CBS PO
The procedure for issue of fresh passbook in lieu of old / used up passbook is prescribed in Rule 44 of POSB CBS Manual. But there is no clarity whether the fresh passbook of account standing in CBS Post Offrces (PO) can be issued by any other CBS PO.
It is clarified that any CBS PO can issue fresh passbook for the account standing in any other CBS PO in lieu of used up / old spoiled passbook, following the procedure prescribed in Rule 44 of POSB CBS Manual.
2). Opening of Joint Account by two or more illiterate depositors or Jointly by Illiterate Depositor and literate depositor
As per Rule 5(5) of GSPR 2018 which was circulated in SB Order No. 13/2019 dated 18.12.2019. A blind or visually challenged or illiterate depositor may open joint account with literate depositor. Further, there is no restriction in any scheme rules for opening of a joint account jointly by two or more illiterate depositors.
It is clarified that a joint account may be opened by jointly by two or three illiterate depositors or jointly by Illiterate Depositor and Literate Depositor.
3) POSB Cheque to a Savings Joint Account opened jointly by a literate depositor and a illiterate depositor.
As per the provisions in POSB CBS Manual and POSB Manual Volume I, for availing Cheque facility, the depositor should be literate and should be able to sign in running hand besides maintaining a balance of Rs. 500/- in the account. Cheque facility is not provided to the accounts operated by minor himself. There is no clarity on issue of cheque for a joint savings account opened by a literate and an illiterate depositor.
As per the clarification issued by MoF, all types of operations in a Joint B Account can be done by any of the depositors, it is clarified that cheque facility can be extended to the Joint B account opened jointly by an illiterate and a literate depositor subject to the conditions that the cheque will be used only by the literate depositor who can sign in running hand and illiterate depositor shall not use cheque facility of the account. Any cheque used by the illiterate depositor of such account shall not be entertained.
4). Opening of a Basic Savings Account by an individual who is already having a Post Office Savings ‘single’ account.
Basic Savings Account has been introduced vide GSR No. 257(E) dated 9th April 2021 through amendment in POSA Scheme 2019. As per the notification, this type of account has been inserted below sub paragraph (2) of paragraph (3) of POSA Scheme 2019. As per the provisions made below paragraph (3)(e) of POSA Scheme, only one account can be opened by an individual as a single account.
Since Basic Savings Account is a separate type of account and inserted as sub paragraph (3) below sub paragraph (2) of paragraph (3) of POSA Scheme 2019, it is clarified that an individual may open a PO Savings Single Account in addition to a Basic Savings Account and vice versa.
5). Limit on the amount of deposit in Branch Post Offices when the deposit in made through Withdrawal form (SB-7) or Cheque.
Orders for acceptance of cheque and withdrawal form (SB-7) for Account opening and subsequent deposits at Branch Post Office have been issued in SB Order No. 22/2020 dated 18.06.2020 and SB Order No. 32/2020 dated 23.09.2020. The small savings schemes viz. MIS, SCSS, KVP, NSC and PPF were extended to Branch Post Office in SB Order No.27/2020 dated 23.07.2020. Cash acceptance limit at Branch Post Office in an account in a day was raised from Rs. 25,000/- to Rs. 50,000/- in SB Order No. 3/2021 dated 05.03.2021.
In this regard, it is clarified that in respect of subsequent deposit / deposit for opening of any type of account, through withdrawal form and Cheque, no such Iimit of Rs. 60,000/- in a day in an account is fixed.
6). Change of guardian in any account
As per Rule 10 (a) of GSPR 2018, in the event of death of the guardian, the succeeding guardian shall be eligible to operate the account of the Minor or the person of unsound mind, as the case may be.
In this regard, it is clarified that change of guardian is permissible only on death of existing guardian and on the orders of any Court. In such cases, the death certificate of the existing guardian or the orders of Honor able Court as the case may be, should be produced by the new guardian along with a fresh application form (SB-AOF) and KYC documents duly signed by the new guardian.
7). Presence of the depositor at the time of opening of account
As per RuIe 4 of GSPR 2018, only Resident citizen of India is eligible to open an account under National (Small) Savings Schemes and as per Rule 5 of GSPR 2018, An Account may be opened by the depositor either by visiting the Accounts Office in person or through permissible electronic modes including internet or mobile banking application of the respective Government Savings Bank in accordance with the procedure approved by the Reserve Bank of India, from time to time.
It is clarified that
>In case an account is opened at the post office, presence of the depositor is mandatory at the time of opening of account.
>In case an account is opened by guardian on behalf of minor or on behalf of a person of unsound mind, presence of guardian is mandatory.
>Whenever any account under the schemes identified for opening through Authorized Agents (SAS & MPKBY) presence of the depositor is optional.
>Further, if the account opening forms and KYC documents are collected by the Post Office staff and the depositor s signature is obtained in front of any authorized officials during the POSB account opening drives/melas/doorstep canvassing etc, presence of such depositor is not mandatory.
8). Change of Joint Depositor in a Joint Account
Rule 48(2) of POSB (CBS) Manual has been treated as deleted in the SB Order No. 12/2020 dated 14.02.2020. As per the provision in RuIe 8 of GSPR 2018, an account opened as a Single Account cannot be subsequently converted into a Joint Account or vice versa. Further there is no provision in GSPR 2018 for change of any of the depositors in any Joint account.
It is clarified that change of the depositor or inclusion of new depositor in a Joint Account is not allowed. Further it is clarified that change of order of the depositor (first / second and third) in an account is also not allowed keeping in view of the fact that various returns / statements are filed with the Income Tax authorities based on the PAN Number of the first depositor in an account.
ii. This order may be circulated to all the Post Offices.
iii. This is issued with the approval of DDG (FS).
(T C VIJAYAN ) Asst. Director (SB-I)
Copy to:
1. Sr. PPS to Secretary (Posts)
2. PS to Director General Postal Services.
3. PPS/ PS to Addl. DG (Co-ordination)/Member (Banking)/Member (O)/Member (P)/ Member (Planning & HRD)/Member (PLI)/Member (Tech)/AS & FA
4. Addl. Director General, APS, New Delhi
5. Chief General Manager, BD Directorate / Parcel Directorate / PLI Directorate
5. Sr. Deputy Director General (Vig) & CVO) / Sr. Deputy Director General (PAF)
7. Director, RAKNPA / CGM, CEPT / Directors of all PTCs
8. Director General P & T (Audit), Civil Lines, New Delhi
9. Secretary, Postal Services Board/ AII Deputy Directors General
10. All General Managers (Finance) / Directors Postal Accounts / DDAP
11. Chief Engineer (Civil), Postal Directorate
12. All recognized Federations / Unions / Associations
13. The Under Secretary, MOF (DEA), NS-ll Section, North Block, New Delhi.
14. The Joint Director & HOD, National Savings Institute, ICCW Building, 4 Deendayal Upadhyay Marg, New Delhi-110002
15. GM, CEPT, Mysuru- for uploading the order on the India Post website.
SB Order 34/2021 – A separate business hours for acceptance of business from agents during the business hours of the post offices shall be fixed by the authority competent to issue Notice of Hours of Business, according to the local convenience of the post office.
SB Order 34/2021
File No. FS-10/17/2020-FS-Part(1) Government of India Ministry of Communications Department of Posts (F.S. division)
Dak Bhawan, New Delhi – 110001 Dated: 05.11.2021
To
All Head of Circles / Regions
Subject of SB Order 34/2021 : Amendment to Rule 147(16) of POSB CBS Manual and Rule 16 of POSB Manual Volume II – Regarding.
***
Postmaster General, Chhattisgarh Circle, Raipur in his DO letter No. SB/2-27/Public Grievance dated 20.10.2021 expressed the difficulties in implementation of Rule 147(16) of POSB (CBS) Manual which is relating to fixing of separate business hours for agents and suggested to consider the revision of the said rule.
2. The issue was examined in detail in this office and accordingly it is decided to amend the provisions of Rule 147(16) of POSB CBS Manual circulated through SB Order No. 09/2018 dated 17.07.2018 and Rule 16 of POSB Manual Volume II. The texts of the amended provisions are given below.
Rule / Para No.
Text of the Amended provisions
Rule 147 (16) of POSB CBS Manual and Rule 16 of POSB Manual Volume II
Facilities to be provided to agents by the Post Office: –A separate business hours for acceptance of business from agents during the business hours of the post offices shall be fixed by the authority competent to issue Notice of Hours of Business, according to the local convenience of the post office, in order to ensure that the agents can come and transact their business during these hours. It should be ensured that under no circumstances, service to the general public is affected due to fixing of separate business hours or agents. Further the Postmasters shall also accept the agents transactions beyond the hours fixed for agents during the business hours, whenever there is no rush at the counter for transactions.The agents should be provided cooperation by postal staff whenever they attend the post office to transact their business during business hours fixed for them. They should be treated with all courtesy and allowed to come inside the post office public hall during their business hours.
3. This may be circulated to all the Offices for information and necessary actions.
4. This is issued with the approval of the Competent Authority.
(T C VIJAYAN) Asst. Director (SB-I)
Copy to:-
1. Sr. PPS to Secretary (Posts)
2. PS to Director General Postal Services.
3. PPS/ PS to AddI. DG (Co’ordination)flVlember (Banking) Member (O) Member (P)/ Member (Planning & HRD)/Member (PLI)/ Member (Tech), AS & FA
4. AddI. Director General, APS, New Delhi
5. Chief General Manager, BD Directorate / Parcel Directorate / PLI Directorate
6. Sr. Deputy Director General (Vig & CVO) / Sr. Deputy Director General (PAI)
7. Director, RAKNPA / CGM, CEPT / Directors of all PTCg.
8. Director General P & T Audit), Civil Lines, New Delhi
9. Secretary, Postal Servicee Board,/ All Deputy Directors Genreral
10. AII General Managers (Finance) / Directors Postal Accounr;s / DDAP
11. Chief Engineer (Civil, Postal Directorate
12. All recognized Feilerations / Unions / Associations
13. The Under Secretary, MOF OEA, NS-II Section, North Block, New Delhi.
14. The Joint Director & HOD, National Savings Institute, ICJW Building, 4 Deendayal Upadhyay Marg, New Delhi-110002
15. GM, CEPT, Mysuru – for uploading the order on the India Post website.
Department of Posts issued SB Order 33/2021 Regarding Introduction of “PM CARES for Children Scheme, 2021” – SB Order dated 29 October 2021
SB Order 33/2021
F.No. FS-13/4/2021-FS-DOP Government of India Ministry of Communications Department of Posts (Financial Services Division)
Dak Bhawan, New Delhi – 110001 Dated 29.10.2021
To
All Heads of Circles / Regions
Subject of SB Order 33/2021 – Regarding Introduction of “PM CARES for Children Scheme, 2021”
Madam/Sir
The undersigned is directed to say that Ministry of Finance (DEA) has introduced “PM CARES for Children Scheme, 2021” vide its notification No. GSR 723(E) dated 06.10.2021 received through MoF (DEA) OM No. 14/1/2019-NS-pt(1) dated 08.10.2021. Copy of notification is attached herewith for information.
2. Detailed Standard Operating Procedures (SOP) for operation of the scheme has been prepared in consultation with the Nodal ministries i.e. Ministry of Finance (DEA), Ministry of Women and Child Development and CEPT, Chennai is attached herewith.
3. Detailed Standard Accounting Procedure (SAP) will be released shortly after receipt of Head of Account and GL Codes from PA wing.
4. It is requested to circulate this scheme to all Post offices for information, guidance and necessary action.
5. This is issued with the approval of competent authority.
Enclosed: Annexure – A & B
Yours Sincerely (Devendra Sharma) Assistant Director (SB-II
Copy to: –
1. Sr. PPS to Secretary (Posts)
2. PS to Director General Postal Services.
3. PPS/ PS to Addl. DG (Co-ordination)/Member (Banking)/Member (O)/Member (P)/ Member (Planning & HRD)/Member (PLI)/Member (Tech)/AS & FA
4. Addl. Director General, APS, New Delhi
5. Chief General Manager, BD Directorate / Parcel Directorate / PLI Directorate
6. Sr. Deputy Director General (Vig) & CVO) / Sr. Deputy Director General (PAF)
7. Director, RAKNPA / CGM, CEPT / Directors of all PTCs
8. Director General P & T (Audit), Civil Lines, New Delhi
9. Secretary, Postal Services Board/ All Deputy Directors General
10. All General Managers (Finance) / Directors Postal Accounts / DDAP
11. Chief Engineer (Civil), Postal Directorate
12. All recognized Federations / Unions / Associations
13. The Under Secretary, MOF (DEA), NS-II Section, North Block, New Delhi.
14. The Joint Director & HOD, National Savings Institute, ICCW Building, 4 Deendayal Upadhyay Marg, New Delhi-110002
15. GM, CEPT, Mysuru – for uploading the order on the India Post website.
16. ADG (OL) for information and Hindi Translation of SB Order.
SB Order 32/2021 – Department of Posts issued SB Order regarding Updation of ASLAAS Card number in Agent Portal by MPKBY Agents – Dated 27.10.2021
SB Order 32/2021
F. No. FS-07/3/2021-FS-DOP Government of India Ministry of Communications Department of Posts (Financial Services Division)
Dak Bhawan, New Delhi-110001
Dated: 27.10.2021
To,
All Head of Circles / Regions
Subject of SB order 32/2021 : – Regarding updation of ASLAAS card number in Agent Portal by MPKBY Agents.
Madam / Sir,
This office was receiving representations from the MPKBY Agents and Agents Association to provide provision for storing ASLAAS card number against each RD account in Agent Portal.
2. This issue was examined in detail and the competent authority has decided to make necessary changes in Agent Portal to update & store ASLAAS card number for each RD Account opened by MPKBY agents.
3. From 01.11.2021 this provision will be available in Agent Portal. All MPKBY agents should update ASLAAS card number in Agent Portal for RD account opened/linked with them. It is the responsibility of the respective MPKBY agent to ensure the correctness of ASLAAS card number entered in the Schedule.
4. A detailed procedure for updating and storing ASLAAS card number for each RD Account in Agent Portal is attached for information, guidance and necessary action. If required, concerned CBS post offices may guide the MPKBY agents attached to their post office in this regard.
5. It is requested to circulate this amendment to all CBS Post Offices for information and guidance and necessary action. A copy of the procedure may be displayed in the notice board of the CBS post offices for information to MPKBY agents.
6. Hindi version of this SB order will be issued in due course.
7. This is issued with the approval of the competent authority.
Enclosed: – As above
Yours Sincerely (Devendra Sharma) Assistant Director (SB-II)
Copy to: –
1. Sr. PPS to Secretary (Posts)
2. PS to Director General Postal Services.
3. PPS/ PS to Addl. DG (Co-ordination)/Member (Banking)/Member (O)/Member (P)/ Member (Planning & HRD)/Member (PLI)/Member (Tech)/AS & FA
4. Addl. Director General, APS, New Delhi
5. Chief General Manager, BD Directorate / Parcel Directorate / PLI Directorate
6. Sr. Deputy Director General (Vig) & CVO) / Sr. Deputy Director General (PAF)
7. Director, RAKNPA / CGM, CEPT / Directors of all PTCs
8. Director General P & T (Audit), Civil Lines, New Delhi
9. Secretary, Postal Services Board/ All Deputy Directors General
10. All General Managers (Finance) / Directors Postal Accounts / DDAP
11. Chief Engineer (Civil), Postal Directorate
12. All recognized Federations / Unions / Associations
13. The Under Secretary, MOF (DEA), NS-II Section, North Block, New Delhi.
14. The Joint Director & HOD, National Savings Institute, ICCW Building, 4 Deendayal Upadhyay Marg, New Delhi-110002
15. GM, CEPT, Mysuru – for uploading the order on the India Post website.
16. ADG (OL) for information and Hindi Translation of SB Order.
SB Order 31/2021 – Standard Operating Procedure (SOP) for dealing with cases of amalgamation of PPF Accounts (SB Order 31/2021 Dated 18.10.2021)
SB Order 31/2021
F. No. FS-32/1/2021-FS-DOP Govt. of India Ministry of Communications Department of Posts (F.S. Division)
Dak Bhawan, New Delhi-110001 Dated: 18.10.2021
To
All Heads of Circles / Regions
Subject of SB Order 31/2021: Standard Operating Procedure (SOP) for dealing with cases of amalgamation of PPF Accounts – Reg.
***
Madam / Sir,
Whenever any depositor has opened more than one PPF Accounts, the second and subsequent accounts opened are treated as irregular, as an individual can open only one single account under PPF Scheme.
2. In such cases, considering the requests of the. PPF subscribers, Department of Economic Affairs, Ministry of Finance regularizes such irregular accounts/deposits by amalgamating more than one PPF account into one account, in relaxation of rules.
3. On receipt of the concurrence of Ministry of Finance for amalgamation of more than one PPF accounts, which were opened irregularly, the Post Offices shall follow the Standard Operating Procedure which is attached herewith, for amalgamation of accounts.
4. If there is any outstanding loan in any of the PPF account to be merged, the depositor shall be requested to repay the entire outstanding loan amount along with the interest. That is, if there is any PPF loan account, it should be closed before the amalgamation of accounts is done.
5. During the process of amalgamation, the interest calculation is required to be done manually by the Head Post Offices. The interest calculation shall be done by the Post Office Counter Officials and verified and authorized by Supervisor / In-Charge, SBCO.
6. This is issued with the approval of Competent Authority.
Encl: Standard Operating Procedure
(T C VIJAYAN) Asst. Director (SB-I)
Copy to:-
1. Sr. PPS to Secretary (Posts)
2. PS to Director General Postal Services.
3. PPS/PS to AddI. DG (Co-ordination) /Member (Banking) / Member (O) / Member (P) / Member (Planning & HRD) / Member (PLI) / Member (Tech) /AS & FA
4. Addl. Director General, APS, New Delhi
5. Chief General Manager, BD Directorate / Parcel Directorate / PLI Directorate
6. Sr. Deputy Director General (Vig) & CVO) / Sr. Deputy Director General (PAF)
7. Director, RAKNPA / CGM, CEPT / Directors of all PTCs
8. Director General P & T (Audit), Civil Lines, New Delhi
9. Secretary, Postal Services Board/ All Deputy Directors General
10.All General Managers (Finance) / Directors Postal Accounts / DDAP
13.The Under Secretary, MOF (DElr), NS-II Section, North Block, New Delhi.
14.The Joint Director & HOD, National Savings Institute, ICCW Building, 4 Deendayal Upadhyay Marg, New Delhi-110002
15.GM, CEPT, Mysuru – for uploading the order on the India Post website.
16.Guard File
(T C VIJAYAN) Asst. Director (SB-I)
STANDARD OPERATING PROCEDURE FOR AMALGAMATION OF MORE THAN ACCOUNT HELD BY A DEPOSITED
When more than one PPF account are held by an individual with one or more operating agencies (Operating agencies means Department of Posts and Banks) against the provisions in PPF Rules, Department of Economic Affairs, Ministry of Finance in relaxation of rules issues orders for amalgamation of the accounts of PPF subscribers, for regularization of irregular deposits / accounts. In such cases, the Standard Operating Procedure (SOP) to be followed by the operating agencies has been issued by DEA, MoF in OM No. 2/2/2020-NS dated.25.02.2021 and the procedure is as follows.
a). Where the deposits made in both the accounts taken together are within in the prescribed deposit ceiling, as applicable to the account from time to time, shall be allowed to be amalgamated and the account holder will be given an option to retain the account of his choice. The PPF accounts in the same operating agency could easily be amalgamated at the level of operating agency by adopting the procedure of transfer of the PPF account.
The amalgamation of PPF accounts in different operating agency requires interaction between both the operating agencies. In such cases, the depositor will submit the request for amalgamation to the accounts office (Accounts office means Post Office or Bank) where he intended to retain the account, along with photocopy of the passbook / statement of account. Thereafter, the accounts office will forward the case to other accounts office (where the account stands which is to be merged) and request to verify / send the details of annual subscriptions of all the financial years. The accounts office will then work out the annual subscriptions deposited by the account holder in all the PPF accounts keeping in view the prescribed deposit ceiling under PPF scheme declared / decided by the Government from time to time. On confirming subscriptions do not breach prescribed deposits ceiling of any of the financial year, the accounts office will request the other accounts office to close the account and transfer the balances in the account keeping in view the relevant provision of the PPF Scheme. The date of opening of the retained account shall be deemed as the actual opening of the account for the calculation of maturity and other purposes. Date of actual transfer / credit of balance in the account which is to be retained, shall be deemed to be the date of deposit for the purpose of loan / withdrawal etc.
b). Where the deposits made in both the accounts taken together are in excess of the prescribed deposit ceiling, applicable from time to time, the excess amount breaching the limit will be refunded to the subscriber from the account to be amalgamated without any interest. The accounts office will adjust the interest entry before transferring the balance to the account office, where the account stands intended to be retained. The date of opening of the retained account shall be deemed as the actual opening of the account for the calculation of maturity and other purposes. Date of actual transfer / credit of balance in the account which is to be retained, shall be deemed to be the date of deposit for the purpose of loan / withdrawal etc.
2). When a PPF depositor submits request to retain his account with Post Office, the following procedure shall be followed by the Head Post Offices after ensuring that the amalgamation has been ordered / concurred by Ministry of Finance.
(l). Procedure for amalgamation if one account is operated at Post Office (PO) andanother one is operated at Bank and Customer wants to continue the account at PO.
1. The bank will issue the cheque along with details of transactions in the account standing at Bank. Cheque received from Bank is to be lodged in PPF Transit Account (SOLID,+0322.
2. If the PO account stands at any Sub Post Office, the Sub Post Office shall send the passbook and the AOF of the account, along with the copy of the memo / order of concurrence for amalgamation and the account shall be transferred to the HO SOL without levying any transfer fee. Then, it shall be closed as ‘Transfer out to Bank’
a. During closure in HCAAC menu, SOL user has to select the value NO for the field ‘Apply Interest till Date’.
b. Closure should be done in transfer mode and amount is to be credited to PPF transit account (SOLID+0322). To
3. Transactions in PO account and the transactions in Bank account are to be entered in chronological (date-wise) order in excel sheet provided for PPF TRANSFER–IN accounts.
a. If sum of deposits in any of the Financial Year (FY) exceeds the prescribed limit for that FY, then transactions / amount beyond the limit should be excluded. Maximum amount of subscriptions in PPF allowed for each FY is as follows.
Date of Revision of Subecriotion
Minimum in Rs.
Maximum in Rs.
16-05-1968
100
15000
01-08-1972
100
20000
09-03-1979
100
30000
16-03-1983
100
40000
23-06-1986
100
60000
15-11-2002
500
70000
01-12-2011
500
100000
13-08-2014
500
150000
Note 1: Chronological order means, for example, 5 transactions done in PO,2 transactions done in Bank and then 3 transactions in PO; if the total deposit amount limit exceeds from the second transaction done at Bank, last 4 transactions should be excluded for that financial year, subject to the deposit of maximum allowed amount.
Note 2: A fresh calculation sheet has to be prepared along with the transactions which are to be uploaded in the new account (amalgamated) to be opened. Interest for each financial year has to be calculated manually by the Head Post Office. The interest for each year should be got verified by the Supervisor / In-Charge, SBCO.
b. Subscription paid in excess by the Depositor is to be noted down date wise and interest paid/credited on the excess amount should be calculated for each financial year.
c. Interest (revised interest calculated) entry with date as 31/03 should be entered for all FYs starting from the FY of account opening till the previous FY.
d. Financial year end indicator field for interest transactions alone should be Y.
e. If there are any transactions made in current FY, those transactions should also be entered in the excel sheet.
4. PPF account is to be opened as TRANSFER-IN account with original account opening date of the account being retained and the corresponding maturity date.
5. Text file created from the above excel file to be uploaded as per existing procedure prescribed for transfer in accounts.
Note: This upload will ensure that withdrawal limits & loan eligibility are properly available in the custom tables.
6. Excess subscription paid should be refunded to the customer. Amount to be refunded to the customer should be transferred from Office Account SOLID+0322 to Office Account SOLID+0340 using CXFER menu and the payment of excess deposit shall be paid to the Depositor by cheque only.
7. Residual amount (excess interest) should be transferred from 0322 to PPF Interest Account 0393.
8. Counter PA shall update the passbooks of the closed PPF accounts and AOF of the closed PPF account(s) with remark “Account Closed for amalgamation of Accounts No.___________ and____________ in accordance with the Memo / Order No.__________ dated_________ ” at the end of the last transactions under the signature of the Pogtmaster and with remarks “Account closed’ on all unused pages.of Passbooks in red ink or by means ofa rubber stamp.
9. A freeh AOF shall be obtained from the Depositor and a fresh passbook for the PPF account opened on amalgamation shall be issued to the Depositor and a remark “Account opened on amalgamation of Accounts No.____________and__________in accordance with the Memo / Order No.__________dated”_________ shall be made in the backside of the first page of the passbook and on the fresh AOF, under the sigrrature of Postmaster. The fresh AOF shall be filed in the guard file along with the AOF of closed account(s).
10. If the retained account stands any Sub Post Office under HO, the amalgamated new account shall be transferred to the Sub Post Office where the retained account existed, without levying any transfer fee and the AOF(s) along with the passbooks (closed account(s) and fresh passbook of the amalgamated account) shall be sent to the Sub Post Office. The Sub Post Office shall file the AOF(s) in the guard file and deliver the passbooks to the Depositor.
(II). Procedure for amalgamation if both or all the accounts are operated either at same Post Office (PO) or at different Post Offices and Customer wants to continue the account at any one Post Office.
1. Customer has to present his request at the Post Office where he wants to continue his account, if both the accounts are maintained in different POs. E.g. SOL1 (PO-1) & SOL2 (PO-2).
2. If SOL1 or SOL2 or both, happen to be Sub Post Office, the Sub Post Office where the Depositor has submitted request to retain his account shall forward the passbooks with AOF(s) and request, to its HO and the account(s) shall be transferred to HO SOL without levying any transfer fee.
Note: Now, both the PPF accounts shall be available at same PO viz. HO SOL.
3. Both the PPF accounts in HO SOL should be closed, as ‘Transfer out to Bank’.
a. During closure in HCAAC menu, SOL user has to select the value NO for the field ‘Apply Interest till Date’. b. Closure should be done in transfer mode and amount is to be credited in PPF Transit Account i.e. SOLID+0322.
4. Transactions in both the PPF accounts are to be entered in chronological (date-wise) order in excel sheet provided for PPF Transfer in accounts.
5. The procedures prescribed in paras 2 (I) (3) (a) to (e), 4 to 10 shall be followed.
Note: In both the above cases I & II, the total amount credited in office account SOLID+0322 (i.e. amount received from bank & amount credited due to closure of account which is to be amalgamated) should tally with the totals of amount transferred to the new amalgamated account opened, excess deposit amount refunded to the customer (i.e. amount transferred to office account SOLID+0340) and the excess interest amount transferred to the office account SOLID+0393. This shall be checked by the Supervisor / In-Charge SBCO.
3. Illustration
Assume that a depositor is having two PPF accounts with the transactions as detailed below. Interest is assumed as 7% per annum and Maximum allowed amount is assumed as Rs. 1,50,000/-.
a). Account 1 opened on 04.04.2018
Date
Transaction
Ammount in Rs.
Balance in Rs.
04-04-2018
Deposit
150000
150000
31-03-2019
Interest
10500
160500
03-04-2019
Deposit
120000
280500
31-03-2020
Interest
19635
300135
03-04-2020
Deposit
140000
440135
31-03-2021
Interest
30809
470944
05-04-2021
Deposit
100000
570944
b). Account 2 opened on 04.04.2020
Date
Transaction
Ammount in Rs.
Balance in Rs.
04-04-2020
Deposit
20000
20000
05-10-2020
Deposit
40000
60000
31-03-2021
Interest
2800
62800
09-04-2021
Deposit
10000
72800
2. If the amalgamation of the above two accounts are ordered, the annual subscriptions made in both the accounts are to be worked as follows.
Date
Transaction
Ammount (Rs.) in Account 1
Ammount (Rs.) in Account 2
Total Deposit in FY concerned
Excess Deposit to be refunded
Excess Interest to be deducted
04-04-2018
Deposit
150000
31-03-2019
Interest
10500
150000
03-04-2019
Deposit
120000
31-03-2020
Interest
19635
120000
03-04-2020
Deposit
140000
04-04-2020
Deposit
20000
10000
700
05-10-2020
Deposit
40000
40000
1400
31-03-2021
Interest
30809
2800
200000
05-04-2021
Deposit
100000
09-04-2021
Deposit
10000
Total
570944
72800
50000
2100
3. If the depositor requests to retain the Account 1, the new amalgamated account will be opened with the date of opening as 04.04.2018 and the following ledger entries will be uploaded.
Date
Transaction Particulars
Ammount in Rs.
Balance in Rs.
04-04-2018
Normal Contribution
150000
150000
31-03-2019
Interest for 2018-19
10500
160500
03-04-2019
Normal Contribution
120000
280500
31-03-2020
Interest for 2019-20
19635
300135
03-04-2020
Normal Contribution
140000
440135
04-04-2020
Normal Contribution
10000
450135
31-03-2021
Interest for 2020-21
31509
481644
05-04-2021
Normal Contribution
100000
581644
09-04-2021
Normal Contribution
10000
591644
Total
591644
4. If the depositor requests to retain the Account 2, the new amalgamated account will be opened with the date of opening as 04.04.2020 and the following ledger entries will be uploaded.
Date
Transaction Particulars
Ammount in Rs.
Balance in Rs.
04-04-2020
Balance Transferred
440135
440135
04-04-2021
Normal Contribution
10000
450135
31-03-2021
Interest for 2020-21
31509
481644
05-04-2021
Normal Contribution
100000
581644
09-04-2021
Normal Contribution
10000
591644
Total
591644
5. The transactions shall be balanced in Finacle as follows.
Details
Ammount in Rs.
Remarks
Credit in Office Account SOLID+0322
643744
Closure proceeds ofboth the accounts
Debit in Office Account SOLID+0322
581644
Funding in amalgamated Account
Credit in Office Account soLID+0393 by debiting Office Account SOLID+0322
50000
Excess Deposit Amount to be paid to the Depositor by Cheque