Friday, May 03, 2019

SB Order No 03/2019 : Insertion of Rule 49(6) in POSB (CBS) Manual regarding entry of interest in Passbooks of Savings and SSA accounts standing at EDBOs

Precautions against severe cyclonic storm 'FANI' in Odisha Circle

Draft Minutes of the 47th National Council (JCM) was held on 13.04.2019




Draft Minutes of the 47th National Council (JCM) was held on 13.04.2019

Comments on Draft SoP for tallying abstracts and resoling discrepancies

Pay Fixation on MACP from the DNI – Clarification Orders issued by MoD

Pay Fixation on MACP from the DNI – Clarification Orders issued by MoD

Availability of option for fixation of pay on Modified Assured Career Progression Scheme (MACPS) from the date of next increment (DNI) in the lower post and method of pay fixation from DNI, if opted for, in Context of Army Pay Rules 2017. Air Force pay Rules 2017 and Navy pay Regulations 2017 in respect of ICOs/ORs and equivalent

No.1(20)/2017/D(Pay/Services)
Ministry of Defence
D(Pay/Services)
Sena Bhawan, New Delhi
Dated 30th April, 2019

Subject: Availability of option for fixation of pay on Modified Assured Career Progression Scheme (MACPS) from the date of next increment (DNI) in the lower post and method of pay fixation from DNI, if opted for, in Context of Army Pay Rules 2017. Air Force pay Rules 2017 and Navy pay Regulations 2017 in respect of ICOs/ORs and equivalent.

The undersigned is directed to refer to MOD OMs of even number dated 22.03.2018 and 26.02.2019 on the issue of availability of option for fixation of pay on promotion from the date of next increment (DNI) in the lower post and method of pay fixation from DNI, if opted for, in context of Army Pay Rules 2017. Air Force pay Rules 2017 and Navy Pay Regulations 2017 and to say that the aforesaid OMs dated 22.03.2018 and 26.02.2019 will be applicable in the cases of pay fixation on grant of MACP also in respect of ICOs/ORs and equivalent.

2. This issues with the concurrence of Defcnce (Finance) vide their I.D. No.
dated 29.0,1.2019.


Yours faithfully
sd/-(Arun Kumar)
Under Secretary to the Govt. of India

Master Circular No. 1 on KYC norms in POSB/SC under AML/CFT regime

Master Circular No. 1 on KYC norms in POSB/SC under AML/CFT regime

Introduction

1.1 Know Your Customer (KYC) Norms/Anti Money Laundering (AML) Measures/Combating Financing of Terrorism (CFT)/Obligations under PMLA, 2002 (amended from time to time) The objective of KYC/AML/CFT guidelines is to prevent money laundering or terrorist financing activities by use of Post Office Savings Bank intentionally or unintentionally by criminal elements. KYC procedures also enable to post office Savings Banks to know/understand their customers better which in turn help them manage their risks prudently.

1.2 Definition of Customer
For the purpose of KYC policy, a customer is defined as:-
• An individual that maintains an account and/or has a cash certificate or has a business relationship with the Post Office Savings Bank.
• An individual on whose behalf the account is maintained (i.e beneficial owner).

2. Guidelines

2.1 General
All Post Office Savings Banks should keep in mind that information collected from the customer for the purpose of opening of account or purchase of savings certificates is to be treated as confidential and details thereof are not to be divulged for cross selling or any other purposes.

2.2 KYC Policy

KYC norms in POSB/SC under AML/CFT Full version can be download by clicking the below link



IPO Exam 2019: Post Office Saving Schemes

  1. How can I claim payment of deceased account / certificate holder?
    The claimant may be the nominee or legal heir. 
    If there is nomination, the nominee can prefer the claim in the prescribed form along with death certificate. 
    If there is no nomination, any one of the legal heirs can prefer the claim in the prescribed form [SB84]. For this death certificate and consent statements of all legal heirs are required. Claim up to one lakh can be settled. 
    If the claim is exceeding one lakh, claims can be settled by legal evidence ie, by probate of will or succession certificate.
  2. How to transfer accounts and certificate?
    For transfer of accounts- the depositor should apply in the prescribed form SB10(b) or manual application. The application can be given either in transferring office or transferee office.
    For transfer of certificates- the investor should apply in the prescribed form[NC32]. The application may be given in either of the offices.
  3. How to open an account in post office and its requirements?
    To open an account [Savings Bank(SB), Recurring Deposit(RD), Time Deposit(TD), Monthly Income Scheme(MIS) SB3, SB103 (pay-in-slip) and specimen signature slip for SB and TD are required.
    For senior citizen accounts, separate forms are to be used. For SB account introduction is compulsory.
  4. What is silent account and how to revive it?
    When there is no transaction in an SB account continuously for 3 financial years, the account will be treated as silent account.
    For revival, one application from the customer is required. LSG/HSG offices can revive the accounts independently. Remaining offices, HO will revive the accounts.
    If the balance in the silent account is less than minimum, then INR. 20/- will be debited towards service charges.
  5. What are late payment fees for recurring deposits?
    The monthly deposits should be credited on any day of the month. If the monthly installment is not credited for any particular month, then it becomes a default. The defaulted months can be credited subsequently (for INR. 10/- denomination, 0.020 rs for each month of default) maximum 4 defaults are allowed.
  6. What is the procedure for the issue of duplicate certificates?
    The investor should apply in the prescribed form for duplicate certificate in respect of lost, stolen, destroyed, mutilated or defaced certificates (NC29).
    The application shall be accompanied by a statement showing particulars of certificates and furnish an indemnity bond in the prescribed form with one or more sureties or with a bank guarantee is required.
    In case of mutilated or defaced certificates, no indemnity bond is required.
  7. How I get duplicate passbook?
    Application in the prescribed form or manuscript application may be given by affixing prescribed fee in the form of postage stamp. New duplicated Passbook will be issued by sub post offices only.
  8. What are the norms for issuing a Cheque Books?
    Cheque books are issued in respect of Cheque accounts. 
    In a Cheque account, minimum balance should be INR. 500/-
  9. What are the service charges for outstations Cheque?
    Cheque realization charges for outstation Cheque. 
    INR. 30/- for first thousand or part 
    INR. 31/- for each additional thousand or part 
    In case of bouncing of Cheque INR. 50/- is charges as service charge.
  10. Can Monthly Income Scheme (MIS) interest be credited to RecurringDeposit (RD) account?
    No. There is no provision. Interest amount can be credited to SB account and after that from SB to RD is permissible.
  11. What is the minimum balance required for an account?
    Minimum balances in respect of different types of account is given below.
    Minimum balances in respect of different types of account

    SB(Cheque account) INR. 500/-
    SB(non Cheque account) INR. 50/-
    MIS INR. 1500/-
    TD INR. 200/-
    PPF INR. 500/-
    Senior Citizen INR. 1000/-
  12. How I can get encashment of certificates / account before maturity?
    encashment of certificates / account before maturity for different account
    NSCs (VIII Issue) Maturity period 5 years (for certificates issued on or after .01.11.2011). No premature encasement possible.
    Different Savings Accounts
    SB Can be closed at any time
    RD Premature closure permissible after 3 years - only SB rate is permissible
    TD Premature closure permissible after 6 months
    MIS Premature closure permissible after 1 year
    Senior Citizen Premature closure after 1 year
  13. Are there any charges for the use of ATM Card ?
         Charges in respect of different types of ATM transactions are given below.
ATM transaction / charge details
Daily ATM cash withdrawal limit INR. 25000/-
Cash withdrawal limit per transaction INR. 10000/-
Charges for transactions done at DOP ATMs Free (Both Financial & Non Financial) with a limit of 5 Financial transactions per day
Permissible free transactions at other Bank ATMs (per month) Metro Cities - 3 free transactions (Both Financial & Non Financial)
Non Metro Cities - 5 free transactions (Both Financial & Non Financial)
Charges after exceeding permissible free transaction limit at other Bank ATMs Financial & Non Financial Transactions - Rs 20 + Applicable GST

Granting of GP Rs. 5400 in PB -2 (Level 9 in Pay Matrix) on completion of four years of service in the GP Rs. 4800 (Level 8 in Pay Matrix) to ASPs on non functional basis

Granting of GP Rs. 5400 in PB -2 (Level 9 in Pay Matrix) on completion of four years of service in the GP Rs. 4800 (Level 8 in Pay Matrix) to ASPs on non functional basis. 


No. 4-1/2019-PCC
Government of India 
Ministry of Communications
Department of Posts
Dak Bhawan, Sansad Marg 
New Delhi - 110001
Date : 22.04.2019

To
Shri Arup Kumar Seal, 
General Secretary,
All India Association of Inspectors and Asstt. Supdt. Posts,
Qtr. No. 12, P&T Colony, Khurshid Square,
Civil Lines, Delhi -110054.

Sub : Granting of GP Rs. 5400 in PB -2 (Level 9 in Pay Matrix) on completion of four years of service in the GP Rs. 4800 (Level 8 in Pay Matrix) to ASPs on non functional basis.

Sir,
I am directed to refer to your letter No.SG/AIAIASP/03/2018 on the above mentioned subject and to inform that the issue of granting NFSG in pre­ revised GP Rs. 5400/- in PB-2 corresponding to Level 9 to Asstt. Superintendent Posts on completion of four years of service in the pre-revised GP Rs. 4800/- (Level 8 in Pay Matrix) has been examined with following observations:-

i. The NFSG Scale is given to AAOs in P&T Accounts vide MoF OM No. 25-2/2017- IC/E.III (A) dated 18.06.2018 as per recommendations of 7th CPC in Para 11.12.140 of the report whereas there is no such recommendation for ASP cadre. Moreover, AAOs in P&T Accounts are having all India Transfer Liability and on contrast, the ASP is a Circle level cadre. Further, ASPs are enjoying Rule 38 transfer from one Circle to other whereas there is no such provision for AAOs. As such, the plea for granting NSFG to ASP cadre in line of AAO cadre as mentioned in the representation is not tenable.

ii. There is different time span in promoting IPs to ASPs in Circles as ASP is a Circle level cadre. In some Circles IPs get promotion in ASPs cadre immediately after completion of minimum qualifying years of service in IP cadre viz 3 years (now 5 years) whereas in some Circles IPs are waiting their hierarchical promotion in ASP cadre even after regular service of 10-13 years in the cadre. The NSFG Scale would not only make a huge disparity in pay among ASPs who are originally entered in IP cadre on the basis of same examination and are borne on the same IP gradation list.

Therefore, the proposal to grant NSFG to Asstt. Superintendent Posts on completion of four years of service cannot be recommended.

Yours sincerely,
sd/-
(SB Vyavahare)
Asstt.Director General (GDS/PCC)