prpri Post office to not to allow investment through withdrawal form (SB-7) Post office to not to allow investment through withdrawal form (SB-7)

Any post office shall not allow investment through withdrawal form (SB-7) under SAS / MPKBY Agency System in different National Savings Schemes.

SB Order No. 10/2021

No. 107-01/2020-5B
Government of India
Ministry of Communications
Department of Posts
(FS Division)

Dak Bhawan, New Delhi-110001
Dated: 15.06.2021.

To,

All Head of Circles/Regions,

Sub: – Regarding request from various agents/agent associations to allow investment through withdrawal form (SB-7) under SAS / MPKBY Agency System.

Sir/Madam,

This office is in receipt of representations from agents/agent associations to allow investment through withdrawal form (SB-7) under SAS / MPKBY Agency System in various National Savings Schemes (i.e. RD/MIS/TD/KVP/NSC).

2. As there is no such provision available in SAS Agency Rules 1959 / MPKBY Agency Rules 1972, the issue was taken up with Ministry of Finance for consideration.

3. After examination, vide O.M. No. 14/1/2021-NS dated 19.02.2021 Ministry of Finance has decided to reject the proposal on the grounds of safeguarding the money of investor and avoiding any irregularities/frauds in the investment.

4. In view of above, any post office shall not allow investment through withdrawal form (SB-7) under SAS / MPKBY Agency System in different National Savings Schemes.

5. It is requested to circulate these guidelines to all post offices for information, guidance and necessary action.

This is issued with approval of the competent authority.

Yours Sincerely,
(Devendra Sharma)
Assistant Director (SB-II)

Copy to:-

1. ST.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 (Vigilance) & CVO) / Sr. Deputy Director General (PAF)

7. Director, RAKNPA / GM, 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 Sections of Postal Directorate

13. All recognized Federations / Unions/ Associations

14. GM, CEPT for uploading the order on the India Post website.

15. MOF (DEA), NS-II, North Block, New Delhi.

16. Joint Director & HOD, ICCW Building, 4 Deendayal Upadhyay Marg, New Delhi-110002

17. Guard File

18. Spare copies.

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