Showing posts with label POSB Rulings. Show all posts
Showing posts with label POSB Rulings. Show all posts

Friday, November 25, 2011

REVISED SB ORDERS: 22-29

10:47 PM SA


SB ORDER dt 24.11.11
SCHEME
FEATURE
EXISTING
REVISED w.e.f. 01.12.2011
REMARKS AND
ACTION TO BE TAKEN
22
KVP
CERTIFICATE ISSUE
Available
Discontinued
Existing stock to be returned from SO to HO and from HO to CSD after 30.11.2011
23
NSC
PERIOD
6 year
5 year
Rubber stamp to be affixed in NSCs about new period and maturity value.
MATURITY VALUE
Rs.160.10 for Rs.100 Dn
Rs.150.90 for Rs.100 Dn
10 YEAR NSC IX ISSUE
Not Available
Available
Features not mentioned now.
24
PPF
MAXIMUM SUBSCRIPTION LIMIT
Rs.70,000
per annum
Rs.1,00,000 per annum

INTEREST RATE
8 % p.a
8.6 % p.a
New interest applicable for balance at credit in account from 01.12.2011
LOAN INTEREST
1% p.a
2% p.a
1 % p.a Int will continue for Loan taken before 30.11.11
25
MIS
PERIOD
6 year
5 year
Rubber stamp to be affixed in PB about the new features
INTEREST RATE
8 % p.a
8.2 % p.a
BONUS
5 % on pri.
Discontinued
26
SB
INTEREST RATE
3.5 % p.a
4% p.a
New interest applicable for balance at credit from 01.12.2011
27
TD
PMC (from 6 months to 1 year)
No interest
SB Interest
For accounts closed on or after 01.12.2011
PMC deduction
2 % Int less
1 % Int less
Refer Rule 8 and rate table in Rule 7 of POTD rules
1 TD
INTEREST
6.25 % Q.C.I
7.7 %   Q.C.I
Interest applicable for accounts opened on or after 01.12.11
(Q.C.I-Quarterly Compounded Interest)
2 TD
INTEREST
6.5 %   Q.C.I
7.8 %   Q.C.I
3 TD
INTEREST
7.25 % Q.C.I
8.0 %   Q.C.I
5 TD
INTEREST
7.5 %   Q.C.I
8.3 %   Q.C.I
28
RD
MATURITY VALUE
Rs.728.90 for Rs.10- Dn
Rs.738.62 for Rs.10- Dn
Proportionate value for other Denominations
29
AGENT
COMM 
PPF
1 %
Discontinued
Applicable for deposits made on or after 01.12.11
SCSS
0.5 %
Discontinued
MIS,TD,NSC
1 %
0.5 %
RD (MPKBY)
4 %
4 %

Points to remember for Cheque Deposits:
  • Investment in KVP through Cheque should not be accepted w.e.f. 28.11.2011. If any cheque presented before 28.11.2011 is cleared after 30.11.2011,  the amount should be refunded to depositor. 
  • After 25.11.2011 while accepting cheques for opening MIS, rubber stamp should be affixed on counterfoil “No Bonus shall be payable if cheque is credited to Govt. Account after 30.11.2011 
  • Rate of interests applicable according to the Date of Clearance of cheque.
 courtesy: sapost.blogspot.com


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Wednesday, February 16, 2011

SB ORDER NO 01/2011

5:00 AM SA

SB ORDER NO. 01/2011
No.32-1/2011-SB
Government of India
Ministry of Communications & IT
Department of Posts
Dak Bhawan, Sansad Marg,
New Delhi-110001, Dated:       08.02.2011
To
Subject:-
All Heads of Circles/Regions
Addl. Director General, APS, New Delhi.

Use  of  prescribed  Account  Opening  Form  (Form'A')  while  opening  PPF
accounts to avoid irregular opening of Joint accounts in PPF.
Sir / Madam,

The  undersigned  is  directed  to  say  that  this  office  is  receiving  large  number  of  cases
from  circles/regions  for  regularization  of  irregularly  opened  Joint  PPF  accounts  by  converting
into single accounts. As Department has no power to relax any statutory rule, all such cases are
being referred to Min. of Finance (DEA) for regularization.

2.          Min. of Finance (DEA) while examining such cases has observed that Post Offices are
using SB-3 for opening of PPF accounts which is meant for opening of SB/RD/TD/MIS accounts
and this is resulting in opening of Joint PPF accounts as the form has provision for opening of
joint  accounts.  Ministry  has  pointed  out  that  PPF  Scheme  provides  for  'FORM-A'  as  account
opening form and if this form is used for opening of PPF account, there are less chances that a
Joint PPF account could be opened.

3.          It is therefore requested to ensure that all post offices operating PPF scheme should use
Form-A   for  opening  of  PPF  account  and  no  Joint  PPF  account  is  opened.  Availability  of  this
prescribed form in Post Offices operating PPF scheme may also kindly be ensured.
4.

5.
This may kindly brought to the notice of all post offices operating PPF scheme.

This issues with the approval of DDG(FS).
Yours faithfully,
(Kawal Jit Singh)
Assistant Director (SB)


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