Finance : Every individual desirous of subscribing to Fund under the Scheme for the first time either on his own behalf or on behalf of a mi...
Finance : Stay informed about recent updates in small saving schemes post-retirement, including rules for opening accounts and time limits f...
Corporate Law : No. FS-13/7/2020-FS Government of India Ministry of Communications Department of Posts (F.S.Division) Dak Bhawan New Delhi-110001 ...
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Corporate Law : Discover the latest interest rates for Small Savings Schemes for April-June and July-September 2024. Get detailed insights and com...
Finance : Understand the Standard Operating Procedure (SOP) outlined in SB Order No. 18A/2023 for managing non-migrated accounts and certifi...
Finance : Read about the official memorandum from the Ministry of Finance on small savings schemes interest rates for the first quarter of F...
Finance : The Ministry of Finance revises interest rates for Sukanya Samriddhi Account Scheme to 8.2% PA, effective from January 2024. Learn...
It is to be clarified that NEFT and RTGS are separate products. The SOP circulated for Post Offices in Annexure II of the said order is for NEFT only. RTGS functionality is currently under testing and is expected to be rolled out by 31.05.2022.
Rate of interest on various Small Savings Schemes (National Savings Schemes) for the first quarter of financial year 2022-23 (starting from 1st April, 2022 and ending on 30th June, 2022) shall remain unchanged from the current interest rates applicable for the fourth quarter (1st January, 2022 to 31st March, 2022) of Financial Year 2021-2022.
In case any one of the PPF accounts or all the PPF accounts is/are proposed to be merged or amalgamated is / are opened on or after 12.12.2019, such account(s) shall be closed without any interest payment and no no proposal should be sent to the Postal Directorate for amalgamation of such PPF Accounts.
It has come to notice that some MIS/SCSS/TD accounts holders have not linked their savings account (either PO Savings Account or Bank account) for credit of their monthly/quarterly/yearly interest and Interest due in these MIS/SCSS/TD accounts are left unpaid in sundry office account.
At present, in Finacle CBS System, the PAN Card of the Depositors are updated as part of KYC compliance. The PAN Card entered in the system is validated only based on the standard PAN format i.e. 10 ALPHA Numeric Characters. But the correctness of the PAN card numbers provided by the Depositors or the PAN entered by the Post Office officials are not validated with NSDL currently.
POSB related fraud cases have been noticed recently. Vigilance Division has desired to provide extra checks in the system to minimize/eliminate chances of misappropriation/frauds, particularly in respect of transactions carried out in single handed and double handed post offices.
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.
Clarifications on operation of PM CARES for Children Scheme, 2021 and circulation of provisional Accounting Procedure for ‘PM CARES for Children Scheme-2021– Regarding.
i. 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. ii. 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.
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 […]
