SB Orders at A Glance - Sapost PDF

SB ORDERS 2017
SB ORDER NO Description Deals with
01/2018 Amendments in varios satutory rules of small savings schemes by ministry of finance (DEA) regarding :- PPF, NSC
The orders/instructions issued vide SB Order No. 01/2018 dated 01.02.2018 are kept in abeyance
02/2018 until further orders, PPF, NSC
03/2018 Prevention of Frauds
04/2018 Revision of Interest of Small savings schems

Mandatory Use of Savings Accounts For credit of maturity/premature value of
05/2018 various POSB Schemes & monthly/quarterly/yearly interest in case of MIS/SCSS/TD CBS
AddenumII SB Order
16/2017 lnclusion ofAadhaar in respect of Small Savings Schemes- regarding CBS
Quoting of PAN /Details of form 60 and submission of Financial transactions report in form -61 and
01/2017 61 for certain transactions [1] Aml-CFT
02/2017 Revision of Interest
04/2017 Deposit of Specific bank notes in Reserve Bank
05/2017 Revision of Interest in small savings schemes
06/2017 Discontinuation of Commission under Pay Roll Savings Schemes [2]
07/2017 Premature closure of PPF account a Clarification
09/2017 Operational Guidelines for CBS Post Offices handling Post Office Savings Bank related work
Introduction of another Standardized Uniform Savings Bank Passbook (SB5A) for TD, NSC
10/2017 and KVP Accounts to be issued by CBS and non CBS post offices
closing of accou nts/certificates belonging to discontinued schemes
11/2017 includi-ng NSS-87 and NSS-92 in Post Office working on CBS platformregarding [3]
12/2017 Commission on KVP to SAS agent reduced from 1% to 0.5%
14/2017 Printing of Passbook CBS

Mandatory use of Savings account for credit of Maturity/ PMC Value monthly quarterl
15/2017 interest of MIS/SCSS/TD accounts and investements from 01-12-2017 reg CBS
16/2017 Adhar Number is mandatory for opening all kinds of accounts CBS
Addenum II SB Order
16/2017 lnclusion ofAadhaar in respect of Small Savings Schemes- regarding CBS
17/2017 Making Mobile number Mandatory for opening any of the PO Small savings account CBS
18/2017 Amendments in various statutory rules of small savings schemes by ministry of finance cbs

01/2016 Revision of Interest W.E.F 01.01.16 [4]
02/2016 Acceptance of POSB account when Finacle is down CBS
03/2016 Introduction OF SSA revised procedure SSA
(iv) C The guardian can maintain the account exculisevely in Electronic form
VIII The deposit in an account may made till completion of 15 years
iX Subsequent Withdrwal allowed ,after satisfying conditions
xiii Maturity of account:
(iv) b Fee for DPB for SSA is 50/-
04/2016 Stopping of Preprinted form of NSC/KVP CERTIFICATES
It will be duty of Postmaster to get user ID of those official proceed on leave/ deputation
05/2016 Para 2. disabled CBS
SBCO should generate Consolidation of each scheme from the Finacle (which is
available in production for any date) when vouchers are received from SOs/HO and
compare the consolidation print out sent by SOs/HO Counter with the consolidation
shown by the system. In case of discrepancy, SBCO Incharge should immediately raise
the issue and report to Divisional Head as well as Vigilance branch of Region/Circle. It is
mandatory that consolidation report should be generated from the Finacle production
Para 4 system for reconciliation
5. SBCO should tally vouchers with the LOT generated through MIS server only.
Whenever MIS server access is available, SBCO should first tally vouchers of old/
Para 5 pending dates.
Any unauthorized entry into any office account shall be treated as violation of rules and
official will be liable for disciplinary action.
Para 7
Transfer of certificate/Account only done at HO level. So has enter transfer applicatin
details in a register and send transfer application with prescribed documents to HO. SO
Para 10 Shall separate Guard file for the inspection purpose
Transfer of certificate/ Account from One scheme to anther and one person to another
Para 11 should done at HO Level
Para 12 Revival of Silent account should done at HO
Para 18 No BPM should accept cash for more than 25000/- in any account in a day
Para 20 BO Transaction should not entered , If Bo Bag recived after 03.30 PM
All POSB cheques should be given clearance by the CBS Post Office dealing with
clearance and should not be sent to other HOs or SOs for giving clearing as data
relating to all accounts is available in CBS Post office
Para 26
Para 27 No POSB Cheque for more than Rs 25000/- Should accepted at other Sols in a day
Closing of any discntinued Scheme including NSS87,NSS92 Should done at HO only.
Amount should give only through Cheque / POSB
Para 29
Para 30 For closure of any account/ Certifcate of other other First account need to transfer
Para 31 Issue of DPB Should done at HO only.
Para 32 No CBS post office should collect Closed PB
Addenum to Freezing and Unfreezing can be done at SO level, where there are two Supervisor,
05/2016 Point 9 Register to maintain CBS
Revival of silent account shall be done at SO where there are two supervisor, register to
Point 12 maintain
Transfer of savings account from SBGEN to SBCHQ can be done at SO Level, where
Point 11 there are two supervisor
SO's should not lodge cheque in finacle, Cheque recived for new investment and
subsequent investment should to ho for clearing. SO should maintain a register for
Point 24 entering all the Cheque sent to HO
POSB Cheque of other offices can be accepted for opening of new accounts
Point 27 irrespective of amount
Point 28 Pledging can be done at SO where there are two supervisor

Presentation of passbook is not required for Depsoit or withdrawal, except in case of bo
12 accounts
Addenum II
05/2016 Transfer of Account from one person to another in SO level CBS
Change in Procedure of Issue of NSC and KVP from 01.07.16 (Certificate Discontinued
06/2016 and Passbook introduced) Certificates
Addenum 06/02016 Duplicate Passbook will not be allowed to pledged orherwith Certificates
07/2016 NO Change in interest rate till 30.09.2016
Clarification on treating the investment by guardian on behalf of minor and his own
08/2016 investment in Post Office Monthly Income Scheme - Regarding MIS
09/2016 Discontinuation of PPF Agency, PRSS and Sanchyika Scheme w.e. F 01.10.2016 AGENTS
10/2016 Revision of Interest in small savings Schemes [5]
Modification in Public Provident Fund (PPF) Scheme Rules, 2016 regarding
11/2016 premature closure of PPF Account. PPF
12/2016 Withdrawal of Legal tender Charater for existing Rs 500/- and Rs 1000/- bank notes
13/2016 Withdrawal of Legal Tender Character of existing Rs 500/- and Rs 1,000/- banknotes-
14/2016 Withdrawal of Legal Tender Character of existing Rs 500/- and Rs 1,000/- banknotes-
15/2016 Revision of Interest W.E.F 01.01.17 [6]
SB Order 2015
01/2015 EXTENSION OF PPF ACCOUNT IN DOUBLE HANDED OFFICE PPF
02/2015 INTRODUCTION OF SSA SSA
03/2015 REVISION OF INTEREST W.E.F APRIL 15
Reconciliation certificate under Rule 87(15) of POSB Manual Vol I , if there is a
04/2015 difference in name of deceased depositer CLAIM
05/2015 Proivision of income tax rebate in SSA SSA
06/2015 Introductiion of common account opening form for all schemes in CBS offices CBS
Clarification in different scenarios being faced or likely to be faced by postoffices after
07/2015 implemenation of CBS CBS
Enhancement of Cash limit of Authorised Agent of Small Saving Schemes and
08/2015 commission to KVP [7] Agent
Premature Closure of TD Accounts before 6 Months Clarification. It is clarified that
09/2015 accounts cant be closed befre 6 months from date of opening accounts TD
10/2015 Introduction of PMSBY /PMJJBY
11/2015 Acceptance of Passport/ Aadhar card as valid proof for opening of SSA Account SSA
Mandatory opening of Savings accounts in Post office for maintaining / development of
12/2015 relationship of customers with POSB CBS
13/2015 Deduction of TDS under section 194A of income tax act case of RD Deposit RD
14/2015 Change of Role of SBCO in the backdrop of implemenation of CBS -Regarding SBCO
Addenum of sb
order 14/2015
dated 25.05.16 Change of Role of SBCO in the backdrop of implemenation of CBS -Regarding SBCO
15/2015 Addenum to SB Order 12/2015 CBS
16/2015 Discontinuance of NSC 9 issue CERTIFICATES

Clarification to SB order 12/2015 and 15/2015 ( No Customers should compel to open
17/2015 SB Account, Other cheques should accept) CBS
SB Order 2014
Printing of Modified standardized uniform Savings Bank Passbook for CBS Post office
01/2014 and Change in text of information printed in the passbook about samall savings scheme CBS
Change in Some Procedure of POSB in the back drop of implementation of CBS
02/2014 regarding CBS
03/2014 Release of Sanchaya 7.5 reg:
04/2014 Revision of Interest Rate W.E.F 01.04.14 [8]
05/2014 Change in statutory rules of POSB in the back drop of implementation of CBS reg CBS
Addenum to
05/2014 Change in statutory rules of POSB in the back drop of implementation of CBS reg CBS
06/2014 Addenum to SB Order 06/2013 , Acceptance of business form SAS / MPKBY agents Agent
Amendement of Sub Rule 3 of rule 8 of Scss 2004 reg (Provided that in case of a joint
account or where the spouse is the sole nominee , the spouse may continue the
account on same terms and condition under these rule."provided further that in case the
spouse does not continue the joint acount , the account shall be closed on an
07/2014 application in Form F and the deposit refunded along with interest as above SCSS
Clarification on different scenarios being faced or likely to be faced by Post offices after
08/2014 implementation of CBS CBS
Regularisation of irregularly openend MIS accounts in multiples of Rs 1000/- instead of
10/2014 Rs 1500/- MIS
11/2014 Extension of PPF Scheme To Private sector banks PPF
12/2014 Reintroduction of KVP CERTIFICATES
ADDENUM TO
12/14 Reintroduction of Sale of KVP -Procedure CERTIFICATES
SB ORDER 2013

Amendment in Rule 4A of Post Office Savings Account Rules 1981 thereby allowing
deposits other than wages under MGNREGA into Workers Wage Accounts
Amendment in Rule 4A of Post Office Savings Account Rules 1981 thereby allowing
deposits other than wages under MGNREGA into Workers Wage Accounts
01/2013
Enhancement of limit for verification of withdrawals from Savings Accounts made at
02/2013 Extra Departmental Sub/Branch Post Offices and Single Handed Post Offices
Identification of PPF(HUF) accounts and admissibility of interest in such accounts
03/2013 PPF
04/2013 Revision in Interest Rates of Small Savings Schemes w.e.f. 01st April 2013
06/2013 Acceptance of Business from SAS regarding
08/2013 Reduction in preservation period of records under prevention of Money laundering PML [
Deduction of TDS at the time payment of Interest to NSS98, NSS87 and SCSS,
10/2013 Payment of commission to agents and issue of TDS Certificate in form 16A Agents
11/2013 Problem Faced by Small savings Agents Agents
Change in the procedure of payment of commission to SAS/MPKBY Leaders in the

12/2013 Post Office to be migrated to Finacle CBS Application Agents
SB Order 2012

Action Plan to “Identify potential areas of corruption related to Departmental
activities/functions and develop action plan to mitigate them”- implementation of
01/2012 the action plan regarding AML-CFT
Taking of Know Your Customer(KYC) documents at the time of credit of maturity
value and cash withdrawal from savings account opened without KYC
02/2012 documents. AML-CFT
03/2012 Release of sanchay Vesion 6.6

04/2012 Revision in Interest rate W.E.F from 01/04/2012 [10]
05/2012 Revision in Interest rate W.E.F from 01/04/2012
06/2012 Introduction of facility of transfer SCSS interest to Bank Account SCSS
07/2012 Gazatte notification of change of Interest rate
08/2012 Settlements of Deceased Claims where the claimant or near relatives residing abroad CLAIM
09/2012 Introduction of depositer at the time of opening of account SB

Change in Text of column no 2 printed in the standardized uniform savings bank
10/2012 Passbook from page no.2 to 4
Measure to taken for prevention of frauds [11]
11/2012 AML-CFT
It has been noted that post offices are accepting business from messengers of SAS/
MPKBY Agents. Which is highly irregular.When an authorized/ Accredited messenger is
appointed by an appointment authority . It will forward a copy of authorisation letter, a
Point 2 specimen signature of messenger and his photograph to post office. Agents
No Maturity/ Prematurity value should be credited into any savings account in which
appropriate KYC documents as mentioned sb order 02/2012 are obtaines
Point 3 AML-CFT
Revision in interest Rates of small savings Scheme w.e.f 1st April 2012-Interest
tables ofTime Deposit accounts opened on or after 01.04.2012 [12]
12/2012 TD
Extension of facility of withdrawal of quarterly interest of SCSS accounts through Money
to MIS accounts-reg
13/2012 MIS
14/2012 AML-CFT
15/2012 Problems in Sanchay Post software in handling extended Sr. Citizen savings scheme Acc
Purchase of NSCby an adult on behalf of Minor –a clarification regarding [14]
16/2012 CERTIFICATES
SB Order 2011
01/2011 Use of prescribed Account Opening Form (Form’A’) while opening PPF accounts to avoid irregular
opening of Joint accounts in PPF. PPF
02/2011 Clarifications regarding new procedure prescribed for settlement of deceased claim cases vide SB
Order 25/2010.
CLAIM
03/2011 Appointment of agents and other agency functions - fresh instructions issued by MOF(DEA)
regarding
AGENT
04/2011 Implementation of AML/CFT norms in Small Savings Schemes and Remittances in post offices-
carrying out Inspection and its further review regarding.
AML-CFT
05/2011 Appointment of agents and other agency functions- issue of clarifications regarding
[15] AGENT
06/2011 Treating the MSY accounts at par with savings accounts and charging of service charge of Rs.20/-
per year.
07/2011 Extension of PPF Scheme up to Post Offices with sanctioned strength of 2+1 (‘A’ class post office)
w.e.f 1.7.2011.
PPF
08/2011 Payment of deposits/certificates belong to minors- a clarification regarding.
09/2011 Treating letter issued by UIDAI for issue of Aadhar Number as valid ID and Address Proof as KYC/
CDD document under Anti-Money Laundering (AML)/Combating of Financing of Terrorism (CFT)
norms for small savings schemes.
AML-CFT
10/2011 Enhancement of Savings Bank Allowance to Postal Assistants working in Savings Bank Branches.
11/2011 Opening of more than one account in the same scheme in the name of same depositor or
acceptance of more than one purchase application of the same scheme in the name of same
depositor in one post office on a single day- a clarification regarding.
12/2011 Acceptance of original document as a proof of death in case of settlement of deceased claim case
as per new procedure prescribed vide SB Order 25/2010-a clarification regarding.
CLAIM
13/2011 Admissibility of interest in PPF(HUF) accounts matured between 13.5.2001 to 7.12.2010 -a
clarification regarding.
PPF
Correigendum to Admissibility of interest in PPF(HUF) accounts matured between 13.5.2005 to 7.12.2010 -a
SB Order 13/2011 clarification regarding.
[16] PPF
14/2011 Restriction on opening of more than one account in the same scheme in the name of same
depositor or acceptance of more than one purchase application of the same scheme in the name of
same depositor in one post office on a single day- a further clarification regarding
[17]
15/2011 Settlement of deceased claim case in respect of Sr. Citizen’s Savings Scheme account- a
clarification regarding
SCSS
16/2011 Grant of Savings Bank Allowance to Postal Assistants working in Savings Bank/certificate branches-
holding of SB Aptitude Test regarding..
17/2011 Admissibility of commission to SAS Agents

AGENT
18/2011 Procedure to be followed during voucher checking by SBCO staff-a clarification regarding.
SBCO
19/2011 Implementation of AML/CFT norms in Small Savings Schemes- an external inspection of selected
post offices by Min. of Finance regarding.
AML-CFT
20/2011 Removal of ceiling of maximum balance to be retained in a post office savings account-
amendment to Rule-4 of the Post Office Savings Account Rules 1981 regarding
SB
21/2011 Attestation of Annexure-II (Affidavit) and Annexure-III (Disclaimer on Affidavit) in case of deceased
claim case preferred where there is no nomination- a clarification regarding
[18] CLAIM
22/2011 Discontinuance of KVP W.e.f 01.12.2011
CERTIFICATES
23/2011 Revision of Maturity Period of NSC from 6 Years to 5 Years CERTIFICATES
24/2011 Revision of maximum limit of subscription in a financial year, rate of interest on balance in the PPF
Accounts and rate of interest charged on loan taken from PPF account with effect from 01.12.2011
[19] PPF
25/2011 Revision of maturiy period, rate of interest and discontinuation of bonus on maturity of MIS W.e.f
01.12.2011 [20] MIS
26/2011 Revision of interest rate on balance at credit in Post office Savings Account w.e.f 01.12.2011 [21] SB
27/2011 Revised rate of TD w.e.f 01.12.2011 [22]
28/2011 Revision of Interest rate of RD W.e.f 01.12.2011 [23]

29/2011 Revision of Rate of Commission Payable to SAS and MPKBY AGENTS AND DISCOTINUANCE OF
COMMISSION TO PPF AGENTS W.E.F 01.12.2011 [24]
AGENT
30/2011 Introduction of New Scheme 10 Year NSC w.e.f 01.12.2011
CERTIFICATES
31/2011 Modification of PO RD Rules 1981, Post office Monthly income account rules 1987, POTD
rules 1981 , KVP Rules 1988, NSC (VIII-Issue) Rules 1989 regarding [25]
32/2011 Circulation of Notifications issued by Min. of Finance (DEA) notifying the changes in rules of
different
savings schemes effective from 1.12.2011 - regarding.
33/2011 Issue of clarifications regarding premature closure of TD accounts [26] TD
34/2011 Procedure for opening of Savings Accounts of Below Poverty Line (BPL)
households.
Guide Book on “ Procedure on Small Savings Schemes and Payment of wages under MGNREGA
for use in EDBOs.
01/2010
Revival of silent accounts and charging of service charge- a revised procedure regarding.
02/2010
Discontinuance of submission of pencil copy of HO list of transactions to AO(ICO) by
SBCO-Amendment to Rule 46 of POSB Manual Vol-I and Para 141 of Manual of SB Control
Procedure regarding.
03/2010 SBCO
04/2010 Payment of monthly interest to MIS account holders [27] MIS
14-A 2009 Delegation of power to sanction deceased claim cases by Sub Postmasters in RD/MIS and SCSS accCLAIM
05/2010 Updation of passbooks through passbook printers and drive for educating depositors for opening/
conversion of savings account with cheque facility.
Date of realization of local cheque/demand draft will be date of deposit in PPF account- a
clarification regarding.
06/2010 PPF
07/2010 Security of Sanchay Post Database- issues relating to common problems, database back-up,
storage and preservation.
Introduction of Anti-Money Laundering (AML)/ Combating of Financing of Terrorism (CFT) norms
for small savings schemes-implementation of CDD/KYC, Record Keeping and Reporting norms for
POSB account/certificate holders under Prevention of Money Laundering (PML) Act 2002
08/2010 regarding. AML-CFT
Opening of “Zero Deposit, Zero Balance” savings accounts
09/2010 for beneficiaries of IGNOAPS, IGNWPS and IGNDPS.
Introduction of Anti-Money Laundering (AML)/Combating of Financing of Terrorism (CFT) norms for
small savings schemes- issue of further instructions and clarifications regarding.
10/2010 AML-CFT
Deduction of TDS in case of Sr. Citizen Saving Scheme 2004 and payment of commission to agents
from 1.4.2010
11/2010 SCSS
Closure of all accounts other than individual accounts (except security deposit accounts) by
12/2010 31.7.2010. SB
13/2010 Reinvestment of maturity value of one scheme to same or another scheme- a revised procedure reg
Operating procedure for opening and operating Old Age Pension account under IGNOAPS, Widows
14/2010 Pensioner Account under IGNWPS and Disabled Pensioner Account under IGNDPS
Closure/Premature closure of accounts- revision of format of account closure form SB-7A
15/2010 regarding. SB
Printing of new account opening form (SB-3) circulated in 2008.

16/2010
Admissibility of interest after death of depositor before maturity in case of SCSS-2004 account-
17/2010 amendment to sub rule 3 of Rule 8 of SCSS-2004 rules regarding. SCSS
18/2010 Introduction of Anti-Money Laundering (AML)/Combating of Financing of Terrorism (CFT) norms for small savings schemes- issue
of further instructions and clarifications regarding.
[29] AML-CFT
19/2010 Opening of Joint Sr. Citizen Savings Scheme Account with Spouse- a clarification regarding.
[30]
SCSS
20/2010 Deduction of TDS, filing of TDS return and issue of TDS certificate-regarding.
[31]
21/2010 Amendment to Post Office Savings Account Rules 1981- deletion of provision for opening of Single
Savings Account by an
authority controlling a Provident Fund, Superannuation Fund or Gratuity Fund on behalf of its
individual members.
SB
small savings schemes fresh instructions and clarifications regarding.
22/2010 [32] AML-CFT
23/2010 Closing of PPF(HUF) accounts on maturity- an amendment to Paragraph (9) of PPF Scheme 1968. PPF
24/2010 Reinvestment of maturity value of one scheme to same or another scheme- a revised procedure reg
New procedure for payment of amount of Savings Bank/Certificates in the name of deceased
depositors/holders- replacement of Rule 87 of POSB Manual Vol-I and Rule 50 of POSB Manual
25/2010 Vol-II regarding.
SB Order 2009
01/2009 Calculation of Post Maturity Interest- a clarification

02/2009 Release of version 6.5 of Sanchay Post Software
Handling of court cases relating to Savings Bank/Certificates at various levels.
03/2009
04/2009 Change in mode of dispatch of Advice of Transfer (AT) in case of transfer of accounts.
05/2009 Putting up Signboards for awareness of public about possible frauds in POSB/SC.
Payment of dues in case of “Joint-B” type investments in Small Savings Schemes- a clarification
06/2009 regarding. [33]
07/2009 Clarification regarding allowing part withdrawal from Workers Wage Account under NREG Act.
08/2009 Delay in issue of MICR Cheque Books to the POSB Account
Deduction of Tax and surcharge on commission paid to SAS/MPKBY/PPF Agents- a clarification
09/2009 regarding Agents
10/2009 Extension of SCSS-2004 accounts for 3 Years after maturity. SCSS
Admissibility of interest in RD accounts partly extended with monthly deposits and without deposits-
11/2009 a clarification RD
12/2009 Entering daily Certificate discharge data of SOs in the CC Bridge/Sanchay Post Software in HOs.
13/2009 Revision of existing limit of deposit and withdrawals under Instant Counter Service. [34]
Delegation of power to sanction deceased claim cases by Sub Postmasters in RD/MIS and SCSS
14/2009 accounts. [35] CLAIM
15/2009 Issue of TDS Certificate.
Registration of customer’s request for transfer of account, closure of account and sanction of
16/2009 deceased claim case and maintenance/updation of record in this regard.
17/2009 Revised rules of POSB Manual Vol-I [36]

18/2009 Revised rules of POSB Manual Vol-II [37]
19/2009 Enhancement of limit of withdrawals at Extra Departmental Sub/Branch Post Offices without
obtaining sanction from Account Office
[38]
20/2009 Regularization of irregular opened/issued accounts/certificates.
SB ORDER 2008
Issue of Sanction Memo of deceased claim cases of various Small Savings Schemes- a
01/2008 clarification regarding. Claim
Updating of data of all categories of accounts in all HPOs for HO as well as SO group and review of
02/2008 decetralization of RD/MIS/SCSS policy in the light of frauds being detected in Sub Post Offices.
Re-payment of any deposit or loan together with interest in any Small Savings Scheme except
03/2008 Savings Account if the amount is Rs. 20,000/- or more- a clarification regarding. RD
Amendment to Rule 24(2) of Appendix-I of POSB Manual Vol-I (1988 edition)/ Rule 24(3) of
Appendix-I of POSB Manual Vol-I (corrected up to 31.12.2006) regarding withdrawal by SB-7 in
04/2008 cheque account. [39] SB
Security of important documents like Ledger Cards, SB-3, Index to ledger cards, Specimen
05/2008 Signature Books and Purchase applications of NSC/KVP etc. used in POSB/SC operations.
Mentioning of card numbers issued to RD depositors by MPKBY agents in Schedule of RD
Deposits.
06/2008 AGENTS
07/2008 Release of 6.0 version of Sanchay Post Software.
Closure of Savings Bank account and supply of SB-3 along with account closure form to SBCO-
08/2008 revised instructions regarding [40] SBCO
Non-deduction of income tax at source on the payments of interest under Sr. Citizens Small
Savings Scheme 2004
09/2008
Reinvestment of matured certificates / deposits through authorized Post Office agents- a
10/2008 clarification regarding.
Updating of POSB Manual Vol-I and II and following of rules and procedure regarding.
11/2008
Amendment in Rule 3 of SCSS Rules and regularization of SCSS accounts opened in contravention
of proviso to Rule 3 sub-rule(2) of SCSS Rules i.e restriction on opening of more than one account
in a calendar month in same deposit office- a clarification regarding regularization of accounts
12/2008 already closed before 24.5.2007. SCSS
13/2008 Investment by NRIs and opening of account by Power of Attorney in Small Savings Schemes- a clarif SB/RD
14/2008 Acceptance of business from agents found involved in fraud cases Agents
Amendment in Rule 7 of Post Office RD Rules 1981 regarding number of defaults permissible in RD
15/2008 accounts opened or to be opened by personnel of Defence Services. [42] RD
Credit of maturity value of matured savings instruments including certificates into post office
16/2008 savings account regarding.
Opening and operating of account by blind/visually impaired persons independently- an
amendment to Post Office Savings Account Rules 1981/ Post Office Time Deposit Rules 1981 and
17/2008 procedure regarding. [43]
Revision of Account Opening form SB-3- amendment to the Post Office Savings Bank General
18/2008 Rules 1981 in format of FORM-1 regarding.
Introduction of new type of savings account i.e Workers Wage Account under NREG Act by
19/2008 amending Post Office Savings Account Rules 1981- regarding.
Introduction of new type of savings account i.e Workers Wage Account under NREG Act by
19-A/2008 amending Post Office Savings Account Rules 1981- regarding.
20/2008 Registration of Nomination under Post Office (Monthly Income Account) Rules 1987. MIS
Amendment to the Rule 12 of Post Office Savings Bank General Rules, 1981 regarding registration
21/2008 of nomination. [44]
Reinvestment of matured certificates / deposits through authorized Post Office agents- a
10/2008 Corrigendu clarification regarding. AGENTS
Sanction of deceased claim cases where there is no nomination and the amount due not exceed
23/2008 Rs. 1 Lakh- a clarification regarding. [45] CLAIM
Payment of collection charges on outstation cheques issued by Central/State Govt. Departments in
24/2008 the name of Postmasters.
SB ORDER 2007
Grant of honorarium for calculation of interest in RD premature closure cases-Regarding
01/2007 RD
02/2007 Introduction of the depositor at the time of opening of saving account. SB
03/2007 Deduction of Tax and surcharge on commission paid to SAS/MPKBY/PPF Agents from 1.6.2007. AGENTS
Deduction of TDS in case of Sr. Citizen Saving Scheme 2004 during 2007-2008 with effect from
04/2007 1.6.2007. [46] SCSS
Deduction of TDS and surcharge on TDS in case of withdrawals from NSS-1987 during 2007-2008.
05/2007
Acting of SAS/MPKBY/PPF agents as an agent or messenger of the depositor for the purpose of
06/2007 withdrawal of money in various saving schemes. [47] Agents
Amendment in Rule 3 of SCSS Rules and regularization of SCSS accounts opened in contravention
of proviso to Rule 3 sub-rule(2) of SCSS Rules i.e restriction on opening of more than one account
07/2007 in a calendar month in same deposit office. SCSS
Remittance of SBMO to HO/SO by field post offices in case of SB deposits received at Field Post
08/2007 Offices for credit into SB accounts standing at Civil Post Offices. SB
Payment of money when signatures of depositor differs or not available in PO record- a clarification
09/2007 regarding. [48] SB
Issue of TDS certificate in respect of Commission paid to agents, TDS from SCSS and NSS-87
accounts.
10/2007 SCSS
Amendment to Rule 4 of Post Office Saving Account Rule 1981 regarding opening of Pension
11/2007 Account [49] SB
Amendment to Rule 4 and Rule 5(1) of Monthly Income Account Rule 1987 regarding maximum
12/2007 limit of investment in MIS. [50] MIS
Settlement of PPF Claims of Subscribers, who go missing guidelines issued by Min. of Finance
13/2007 PPF
Deduction of TDS and issue of TDS certificate for the interest paid to the depositors of Senior
14/2007 Citizen Savings Scheme accounts – Procedure regarding [51] SCSS
Senior Citizen Saving Scheme (SCSS) 2004- Payment of Interest in cases of Pre-mature closure of
account after deduction of
15/2007 penalty [52] SCSS
Regularization of MIS accounts opened with minimum deposit of Rs.1000/- after 1.8.2007 up to
16/2007 date of receipt of amendment in MIA Rules 1987. MIS
Acceptance of subscription in PPF account by cheque/demand draft- a clarification regarding
17/2007 [53] PPF
Amendment in rule 9, sub-rule(1) of Post office Monthly Income Account Rules 1987- admissibility
18/2007 of 5% bonus on MIS account opened on or after 8.12.2007 regarding MIS
Please email your comments and feed back to mailto:kiran.ptc@gmail.com
NOTE:
Please Refer Corresponding SB Orders for more clarification. The same can be downloaded from India- Post Website
https://www.indiapost.gov.in/VAS/Pages/RTI/RTI-Manual-5.aspx
RULES RELATING WITH SB
09/2012 Introduction of depositer at the time of opening of account
21/2010 Amendment to Post Office Savings Account Rules 1981- deletion of provision for opening of Single Savings Account by an
authority controlling a Provident Fund, Superannuation Fund or Gratuity Fund on behalf of its individual members.
15/2010 “Account Closure/Premature Closure Form- SB-7A” where SB-7A form is notavailable, a separate written application for closure
or premature closureshould be taken from the depositor on plain paper and signature on thisapplication should also be
compared with the specimen signature. No account should be closed either on maturity or before maturity i.e in
case of premature closure, on presenting SB-7, without writtenapplication from depositor(s) clearly stating that he/she
wantsclosure/premature closure. The written application should be attached with SB-7.
12/2010 Closure of all accounts other than individual accounts (except security deposit accounts) by 31.7.2010.
26/2011 Revision of interest rate on balance at credit in Post office Savings Account w.e.f 01.12.2011 [54]
20/2011 Removal of ceiling of maximum balance to be retained in a post office savings account- amendment to Rule-4 of the Post Office
Savings Account Rules 1981 regarding
13/2008 Investment by NRIs and opening of account by Power of Attorney in Small Savings Schemes- a clarification regarding. [55]
Amendment to Rule 24(2) of Appendix-I of POSB Manual Vol-I (1988 edition)/ Rule 24(3) of Appendix-I of POSB Manual Vol-I
04/2008 (corrected up to 31.12.2006) regarding withdrawal by SB-7 in cheque account. [56]
11/2007 Amendment to Rule 4 of Post Office Saving Account Rule 1981 regarding opening of Pension Account [57]
09/2007 Payment of money when signatures of depositor differs or not available in PO record- a clarification regarding. [58]
Remittance of SBMO to HO/SO by field post offices in case of SB deposits received at Field Post Offices for credit into SB accounts
08/2007 standing at Civil Post Offices.
02/2007 Introduction of the depositor at the time of opening of saving account.
RULES RELATING WITH RD
13/2015 Deduction of TDS under section 194A of income tax act case of RD Deposit RD REBATE Rs 4 for R
31/2011 Maximum limit of 2 years fixed for admissiblity of Post Maturity interest has been Rs 1 for R
removed
15/2010 “Account Closure/Premature Closure Form- SB-7A” where SB-7A form is
notavailable, a separate written application for closure or premature
closureshould be taken from the depositor on plain paper and signature on
thisapplication should also be compared with the specimen signature. No
account should be closed either on maturity or before maturity i.e in
case of premature closure, on presenting SB-7, without writtenapplication from
depositor(s) clearly stating that he/she wantsclosure/premature closure. The
written application should be attached with SB-7. No cash payment
should be given to the messenger at the time of premature closure or
closure of an account.
11/2009 Admissibility of interest in RD accounts partly extended with monthly deposits and
without deposits- a clarification
15/2008 Amendment in Rule 7 of Post Office RD Rules 1981 regarding number of defaults
permissible in RD accounts opened or to be opened by personnel of Defence
Services. [59]
13/2008 Investment by NRIs and opening of account by Power of Attorney in Small Savings
Schemes- a clarification regarding. [60]
03/2008 Re-payment of any deposit or loan together with interest in any Small Savings Scheme
except Savings Account if the amount is Rs. 20,000/- or more- a clarification regarding.
01/2007 Grant of honorarium for calculation of interest in RD premature closure

cases-Regarding
RULES RELATING WITH MIS
18/2017 Minimum amount for opening MIS account is Rs 100/- and Multiple of 100
Clarification on treating the investment by guardian on behalf of minor and his own investment
08/2016 in Post Office Monthly Income Scheme - Regarding
Regularisation of irregularly openend MIS accounts in multiples of Rs 1000/- instead of Rs
10/2014 1500/-
Extension of facility of withdrawal of quarterly interest of SCSS accounts through Money to MIS accounts-reg
13/2012
31/2011 Maximum limit of 2 years fixed for admissiblity of Post Maturity interest has been removed
25/2011 Revision of maturiy period, rate of interest and discontinuation of bonus on maturity of MIS
W.e.f 01.12.2011 [61]
04/2010 Payment of monthly interest to MIS account holders [62]
20/2008 Registration of Nomination under Post Office (Monthly Income Account) Rules 1987.
Amendment in rule 9, sub-rule(1) of Post office Monthly Income Account Rules 1987-
18/2007 admissibility of 5% bonus on MIS account opened on or after 8.12.2007 regarding
Regularization of MIS accounts opened with minimum deposit of Rs.1000/- after 1.8.2007 up
16/2007 to date of receipt of amendment in MIA Rules 1987.
Amendment to Rule 4 and Rule 5(1) of Monthly Income Account Rule 1987 regarding
12/2007 maximum limit of investment in MIS. [63]
Terms and condition for Opening of MIS
1. Any adult, Any two orthree adult jointly or An adult behalf of a minor can open the Accunt, A minor who attain
2. Minimum Amount 100/- , Multiples of 100 . Maximum Limit for individual is 450000 and for Joint account is 9,0
3. Account can be closed after one year . A penalty of 2% of Principal will be levied for acount closed after one y
Account closed after 3 year will be levied a penalty of 1% on principal
4. The depositer may opt for payment of interest through Postdated Cheques
RULES RELATING WITH TD
18/2017 Minimum Amount for opening TD acounts is Rs 100/- and Multiples of 100/-
Premature Closure of TD Accounts before 6 Months Clarification. It is clarified that accounts cant be closed
09/2015 before 6 months from date of opening accounts
Revision in interest Rates of small savings Scheme w.e.f 1st April 2012-Interest tables ofTime Deposit accounts opened on or after 01.04.2012
12/2012 [64]
33/2011 Issue of clarifications regarding premature closure of TD accounts [65]
RULES RELATING WITH PPF
02/2018 The orders/instructions issued vide SB Order No. 01/2018 dated 01.02.2018 are kept in abeyance until
further orders,
01/2018 Provided that if a resident who opened an account under this scheme' subsequently becomes a non
Resident during the currency of the maturity period, the account shall be deemed to be closed with
effect from the day he becomes a non-resident and interest with effec-t from that date shall be paid
at the rate applicable to the Post Of{ioe Saving Account up to the last day of th€ month preceding the
month in which the account is actually closed
07/2017
Clarification to SB Order 11/2016 [66]
Modification in Public Provident Fund (PPF) Scheme Rules, 2016 regarding premature closure of
11/2016 PPF Account.
01/2015 EXTENSION OF PPF ACCOUNT IN DOUBLE HANDED OFFICE
11/2014 Extension of PPF Scheme To Private sector banks
03/2013 Identification of PPF(HUF) accounts and admissibility of interest in such accounts

24/2011 Revision of maximum limit of subscription in a financial year, rate of interest on balance in the PPF
Accounts and rate of interest charged on loan taken from PPF account with effect from 01.12.2011 [67]
Correigendum Admissibility of interest in PPF(HUF) accounts matured between 13.5.2005 to 7.12.2010 -a clarification
to SB Order regarding.
13/2011 [68]
13/2011 Admissibility of interest in PPF(HUF) accounts matured between 13.5.2001 to 7.12.2010 -a clarification
regarding.
07/2011 Extension of PPF Scheme up to Post Offices with sanctioned strength of 2+1 (‘A’ class post office) w.e.f
1.7.2011.
01/2011 Use of prescribed Account Opening Form (Form’A’) while opening PPF accounts to avoid irregular
opening of Joint accounts in PPF.
23/2010
Closing of PPF(HUF) accounts on maturity- an amendment to Paragraph (9) of PPF Scheme 1968.
Date of realization of local cheque/demand draft will be date of deposit in PPF account- a clarification
regarding.
06/2010
Acceptance of subscription in PPF account by cheque/demand draft- a clarification regarding
17/2007 [69]
13/2007 Settlement of PPF Claims of Subscribers, who go missing guidelines issued by Min. of Finance
Terms And Condition for Opening of PPF Account

1) Any individual can open the account
2) A minor is allowed to open the account
3) Not more than 12 deposit in a account in a year
4) Period of the Scheme is 15 years can be extended to 5 years
5) Default fee for not keeping minimum Deposit is rs 500/-
6) Minimum amount required to open the account is 100/-
7 )Loan can be taken after 3 years which is 25% of amount depsoited
a) Can be repaid with in 36 months in a lumpsum of instalment interest will be 1%
b) If not repaid interest will be 6%
8) Wdl can be taken after 5 financial year there will be one wdl in a financial yea
RULES RELATING WITH SCSS
18/2017 Retired Defence Pesonnels (excluding civil defence employees) can open SCSS accounts only
on attaining age of 50 years
Amendement of Sub Rule 3 of rule 8 of Scss 2004 reg (Provided that in case of a joint account or
where the spouse is the sole nominee , the spouse may continue the account on same terms and
condition under these rule."provided further that in case the spouse does not continue the joint
acount , the account shall be closed on an application in Form F and the deposit refunded along
07/2014 with interest as above
06/2012 Introduction of facility of transfer SCSS interest to Bank Account
Admissibility of interest after death of depositor before maturity in case of SCSS-2004 account-
amendment to sub rule 3 of Rule 8 of SCSS-2004 rules regarding.
17/2010
19/2010 Opening of Joint Sr. Citizen Savings Scheme Account with Spouse- a clarification regarding.
[70]
Deduction of TDS in case of Sr. Citizen Saving Scheme 2004 and payment of commission to
agents from 1.4.2010
11/2010
Extension of SCSS-2004 accounts for 3 Years after maturity.
10/2009
Amendment in Rule 3 of SCSS Rules and regularization of SCSS accounts opened in
contravention of proviso to Rule 3 sub-rule(2) of SCSS Rules i.e restriction on opening of more
than one account in a calendar month in same deposit office- a clarification regarding
regularization of accounts already closed before 24.5.2007.
12/2008
Non-deduction of income tax at source on the payments of interest under Sr. Citizens Small
Savings Scheme 2004
09/2008
Senior Citizen Saving Scheme (SCSS) 2004- Payment of Interest in cases of Pre-mature closure
of account after deduction of
15/2007 penalty [71]
Deduction of TDS and issue of TDS certificate for the interest paid to the depositors of Senior
14/2007 Citizen Savings Scheme accounts – Procedure regarding [72]
10/2007 Issue of TDS certificate in respect of Commission paid to agents, TDS from SCSS and NSS-87
accounts.
Amendment in Rule 3 of SCSS Rules and regularization of SCSS accounts opened in

contravention of proviso to Rule 3 sub-rule(2) of SCSS Rules i.e restriction on opening of more
than one account in a calendar month in same deposit office has been removed
07/2007
Deduction of TDS in case of Sr. Citizen Saving Scheme 2004 during 2007-2008 with effect from
1.6.2007. [73]
04/2007
Terms And Condition for Opening of SCSS Account
1) Should Attain age of 60 years, Can opened in the name of Self or with Spouse only
2) For VRS scheme it is 55 Years, The account should open with in three months after retirement. Only Retirement benefit can depsoit
and a certificate from employer fact of retirement under such VRS scheme , retirement benefit , employment held along with period of such empl
with the employer attached with the application form. Proof of date of Disbursal should also accompany- Notification dated 27th -10-05 Gazatte
***Retirement Benefit means :-Provident fund dues, Retirement/ Super Annuation gratuity, Commuted value of Pension, Cash equilavent of leave , Saving
element of Group savings linked , Insurance scheme payable by employer to employee on retirement, retirement / cum withdrawal benefit under a VRS or
Special VRS
3) For Defence Retired Personnel there is Age limit only after 50 (excluding civil defence employees)
Should Start with in one month after reciving retirement benefits
Discharge Book required to check Entry
Bank passbook showing Credit
Amount Should not exceed above the retirement Benefit
Minimum Amount for opening of account is Rs 1000/- and Multiples of Rs 1000/-

More than One account can be opened in the name of one Person but not in a calendar month.
For amount exceeds Rs 99000/- Account can be opened by cheque only
NRI cant Deposit in the Scheme
Income tax exemption is for the principal Amount and not on the Interest
If the Interest for an year from SCSS account is less than or equal to 10000/- TDS will not be deducted
If the Citizen want to take an exemption of Income Tax ,Form 15H to be presented
Documents Required For Opening of Account

1. Account opening Form With Form A
2. Address and Age Proof
3. PAN Card
Premature Withdrawal
Can Be closed after One Year
If the Account closed after one year 1.5 % will deduct from Principle, If closed after 2 year 1% will deduct
Extesnion
Can extend for three years
Extended accounts can be closed only after one year after extension
Forms
A/c Opening Form A
Premature Form E
Extension Form B
for Transfer Form G (if deposit is above one lakh. Transfer Fee is Rs 5/- per transfer. Rs 10/- for subsequent transfers)
Pay in Slip Form D
Claim
1) In the event of Death of First holder in SCSS account, The second holder spouse or when spouse is the sole nominee
he/ she shall be allowed to continue the accounts even when he /she does not meet the age criteria of 60 years
Important instruction
1. Cant be pledged
2. A person holding a power of attorney cannot sign in the nomination form behalf of a nominee
Rules Relating with SSA
03/2016 Introduction OF SSA revised procedure
Acceptance of Passport/ Aadhar card as valid proof for opening of SSA
11/2015 Account
05/2015 Proivision of income tax rebate in SSA
02/2015 INTRODUCTION OF SSA
Rules Relating with CERTIFICATES
02/2018
The orders/instructions issued vide SB Order No. 01/2018 dated 01.02.2018 are kept in abeyance until
further orders,
Provided that if a resident who opened an account under this scheme' subsequently becomes a non
Resident during the currency of the maturity period, the account shall be deemed to be closed with
effect from the day he becomes a non-resident and interest with effec-t from that date shall be paid at
the rate applicable to the Post Of{ioe Saving Account up to the last day of th€ month preceding the
01/18 month in which the account is actually closed
04/2016 Stopping of Preprinted form of NSC/KVP
ADDENUM TO
06/2016 Duplicate certifcate will not be allowed to pledge. Pledging fees will be Rs.5/- for a passbook
06/2016 Change in Procedure of Issue of NSC and KVP from 01.07.16 (Certificate Discontinued and Passbook intr
Purchase of NSC by an adult on behalf of Minor –a clarification regarding [74]
16/2012
16/2015 Discontinuance of NSC 9 issue
12/2014 Reintroduction of KVP
ADDENUM TO 12/14 Reintroduction of Sale of KVP -Procedure
31/2011 Maximum limit of 2 years fixed for admissiblity of Post Maturity interest has been removed
30/2011 Introduction of New Scheme 10 Year NSC w.e.f 01.12.2011
23/2011 Revision of Maturity Period of NSC from 6 Years to 5 Years
Procedure to issue Duplicate NSC
1. Filled Form-NC29 for the Issue of Duplicate Certificate

2. Statement showing the details of NSC– such as number, amount and the date of certificate and the circumstance
attending such loss, theft, destruction, mutilation or defacement.
3. Bond of Indemnity – In case of mutilated or defaced certificates, no indemnity bond is required. But for lost, stolen,
destroyed, you also need to submit bond of indemnity. You also need to furnish an indemnity bond in the prescribed form
with one or more sureties or with a bank guarantee is required.
A- Bond of Idemnity (Form NC-54(a))

This form is used for issuance of a duplicate National Savings certificate(s) in lieu of lost, misplaced, spoiled or mutilated
certificates.
B- Bond of Idemnity (Form NC-54(b))

This bond of indemnity is to be executed for the issue of a duplicate certificate(s) in lieu of lost, misplaced, spoiled or
mutilated certificates with a Bank guarantee.
C- Bond of Indemnity (Form NC-61)
This bond of indemnity is to be executed at the time of discharge of original certificates or Issue of duplicate certificate(s)
in lieu of lost, misplaced, spoilt, destroyed, defaced or mutilated certificate (s), where original application for purchase is
missing.
4. Copy of FIR – If the Certificate is lost, stolen, destroyed.
5. Identification Document of Surety – e.g. Valid Indian Passport, Indian Driving License, Salary Certificate of the Surety.
6. Payment Receipt of Fees for Issue of Duplicate Certificates (Fee Rs.5)
If the officer-in-charge of the post office of registration is satisfied of the loss, theft, destruction, mutilation or defacement
of the certificate, he shall issue a duplicate certificate on the application.
Things you should Know

A duplicate NSC certificate shall be treated as equivalent to the original certificate for all the purposes of these rules
except that it shall not be encashable at a post office other than the post office at which such certificate is registered
without previous verification.
Rules Relating with Agents
12/2017 Commission of KVP agents reduced from 1 % to 0.5%
06/2017 Discontinuation of Commission under Pay Roll Savings Schemes [75]
09/2016 Discontinuation of PPF Agency, PRSS and Sanchyika Scheme w.e. F 01.10.2016
08/2015 Enhancement of Cash limit of Authorised Agent of Small Saving Schemes and commission to KVP [76]
Addenum to SB Order Acceptance of business from SAS agent regarding

06/2013
12/2013 Change in the procedure of payment of commission to SAS/MPKBY Leaders in the Post Office to be migrated to Finacle
CBS Application
11/2013 Problem Faced by Small savings Agents
10/2013 Deduction of TDS at the time payment of Interest to NSS98, NSS87 and SCSS, Payment of commission to agents and issue
of TDS Certificate in form 16A
29/2011 Revision of Rate of Commission Payable to SAS and MPKBY AGENTS AND DISCOTINUANCE OF COMMISSION TO PPF
AGENTS W.E.F 01.12.2011 [77]
17/2011 Admissibility of commission to SAS Agents
05/2011 Appointment of agents and other agency functions- issue of clarifications regarding
[78]
03/2011 Appointment of agents and other agency functions - fresh instructions issued by MOF(DEA) regarding

11/2012
It has been noted that post offices are accepting business from messengers of SAS/ MPKBY Agents. Which is highly irregular.When an authorized/
Accredited messenger is appointed by an appointment authority . It will forward a copy of authorisation letter, a specimen signature of messenger and
his photograph to post office.
Point 2
09/2009 Deduction of Tax and surcharge on commission paid to SAS/MPKBY/PPF Agents- a clarification regarding
06/2008 Mentioning of card numbers issued to RD depositors by MPKBY agents in Schedule of RD Deposits.
14/2008 Acceptance of business from agents found involved in fraud cases

10/2008 Reinvestment of matured certificates / deposits through authorized Post Office agents- a clarification regarding.
10/2008 Corrigendum Reinvestment of matured certificates / deposits through authorized Post Office agents- a clarification regarding.
06/2007 Acting of SAS/MPKBY/PPF agents as an agent or messenger of the depositor for the purpose of withdrawal of money in
various saving schemes. [80]
03/2007 Deduction of Tax and surcharge on commission paid to SAS/MPKBY/PPF Agents from 1.6.2007.
Rules Relating with SBCO
14/2015 Change of Role of SBCO in the backdrop of implemenation of CBS -Regarding
14/2015
Addenum Change in Role of SBCO in the back drop of implemtation of CBS
18/2011 Procedure to be followed during voucher checking by SBCO staff-a clarification regarding.
Discontinuance of submission of pencil copy of HO list of transactions to AO(ICO) by SBCO-Amendment to

Rule 46 of POSB Manual Vol-I and Para 141 of Manual of SB Control Procedure regarding.
03/2010
Closure of Savings Bank account and supply of SB-3 along with account closure form to SBCO- revised
08/2008 instructions regarding [81]
Rules Relating with AML-CFT
Quoting of PAN /Details of form 60 and submission of Financial transactions report in form -61 and 61A
01/2017 for certain transactions [82]
Circulatuion of master Circular NO.1 on AntiMoney laundering
14/2012 [83]
11/2012
Point 3 No Maturity/ Prematurity value should be credited into any savings account in which appropriate KYC documents as
mentioned sb order 02/2012 are obtaineD
POINT 1 Making Payment of Above 20000/- for matuity either by cheque or by SB Credit only
Point 2 t has been noted that post offices are accepting business from messengers of SAS/ MPKBY Agents. Which is highly
irregular.When an authorized/ Accredited messenger is appointed by an appointment authority . It will forward a copy of
authorisation letter, a specimen signature of messenger and his photograph to post office.
Taking of Know Your Customer(KYC) documents at the time of credit of maturity

value and cash withdrawal from savings account opened without KYC
02/2012 documents.
Action Plan to “Identify potential areas of corruption related to Departmental

activities/functions and develop action plan to mitigate them”- implementation of
01/2012 the action plan regarding
19/2011 Implementation of AML/CFT norms in Small Savings Schemes- an external inspection of selected post
offices by Min. of Finance regarding.
04/2011 Implementation of AML/CFT norms in Small Savings Schemes and Remittances in post offices-
carrying out Inspection and its further review regarding.
Treating letter issued by UIDAI for issue of Aadhar Number as valid ID and Address Proof as KYC/CDD
document under Anti-Money Laundering (AML)/Combating of Financing of Terrorism (CFT) norms for
small savings schemes.

small savings schemes fresh instructions and clarifications regarding.
22/2010 [85]
18/2010 Introduction of Anti-Money Laundering (AML)/Combating of Financing of Terrorism (CFT) norms for small savings schemes- issue of
further instructions and clarifications regarding.
[86]
small savings schemes- issue of further instructions and clarifications regarding.
10/2010
Introduction of Anti-Money Laundering (AML)/ Combating of Financing of Terrorism (CFT) norms for
small savings schemes-implementation of CDD/KYC, Record Keeping and Reporting norms for POSB
08/2010 account/certificate holders under Prevention of Money Laundering (PML) Act 2002 regarding.
Rules Relating with CLAIM
Reconciliation certificate under Rule 87(15) of POSB Manual Vol I , if there is a difference in
04/2015 name of deceased depositer
08/2012 Settlements of Deceased Claims where the claimant or near relatives residing abroad
21/2011 Attestation of Annexure-II (Affidavit) and Annexure-III (Disclaimer on Affidavit) in case of
deceased claim case preferred where there is no nomination- a clarification regarding
[87]
12/2011 Acceptance of original document as a proof of death in case of settlement of deceased claim
case as per new procedure prescribed vide SB Order 25/2010-a clarification regarding.
02/2011 Clarifications regarding new procedure prescribed for settlement of deceased claim cases vide
SB Order 25/2010.
14-A 2009 Delegation of power to sanction deceased claim cases by Sub Postmasters in RD/MIS and SCSS
Delegation of power to sanction deceased claim cases by Sub Postmasters in RD/MIS and
14/2009 SCSS accounts. [89]
Sanction of deceased claim cases where there is no nomination and the amount due not exceed
23/2008 Rs. 1 Lakh- a clarification regarding. [90]
Issue of Sanction Memo of deceased claim cases of various Small Savings Schemes- a
01/2008 clarification regarding.
Rules Relating with CBS
05/2018 SB Order 15/2017 Stands cancelled
17/2017 Mobile Number is mandatory for opening new accounts
Addenum II SB
Order 16/2017 Aadhar is not mandatory for opening accounts in post offices until further orders
Addenum I SB Order
16/2017 Aadhar is not mandatory for opening of accounts in post office untill 31.03.2018
16/2017 Aadhar number is mandatory document for opening all kinds of accounts.
15/2017 The closure, Monthly interest should credit through SB Account only.
Where a customer are already having post office savings account a mandate for credit closure proceeds and
Point II monthly/quarterlty/yearly interest in case of MIS/SCSS and TD account should be taken along with a declaration
Point VI No postmaster Cheque should issued to customer after 01.12.2017

Printing of Passbook is compulsory in cbs post office. Where passbook printer is supplied and no manual entry
should be there
14/2017
05/2016 Para 2. It will be duty of Postmaster to get user ID of those official proceed on leave/ deputation disabled
SBCO should generate Consolidation of each scheme from the Finacle (which is available in production for any
date) when vouchers are received from SOs/HO and compare the consolidation print out sent by SOs/HO Counter
with the consolidation shown by the system. In case of discrepancy, SBCO Incharge should immediately raise the
issue and report to Divisional Head as well as Vigilance branch of Region/Circle. It is mandatory that consolidation
Para 4 report should be generated from the Finacle production system for reconciliation
5. SBCO should tally vouchers with the LOT generated through MIS server only. Whenever MIS server access is
available, SBCO should first tally vouchers of old/pending dates.
Para 5
Para 7 Any unauthorized entry into any office account shall be treated as violation of rules and official will be liable for
disciplinary action.
Transfer of certificate/Account only done at HO level. So has enter transfer applicatin details in a register and send
Para 10 transfer application with prescribed documents to HO. SO Shall separate Guard file for the inspection purpose
Para 11 Transfer of certificate/ Account from One scheme to anther and one person to another should done at HO Level
Para 12 Revival of Silent account should done at HO
Para 18 No BPM should accept cash for more than 25000/- in any account in a day
Para 20 BO Transaction should not entered , If Bo Bag recived after 03.30 PM

Para 26 All POSB cheques should be given clearance by the CBS Post Office dealing with clearance and should not be sent
to other HOs or SOs for giving clearing as data relating to all accounts is available in CBS Post office
Para 27 No POSB Cheque for more than Rs 25000/- Should accepted at other Sols in a day
Closing of any discntinued Scheme including NSS87,NSS92 Should done at HO only. Amount should give only
through Cheque / POSB
Para 29
Para 30 For closure of any account/ Certifcate of other other First account need to transfer
Para 31 Issue of DPB Should done at HO only.

Para 32 No CBS post office should collect Closed PB
Addenum to
05/2016 Point 9 Freezing and Unfreezing can be done at SO level, where there are two Supervisor, Register to maintain
Point 12 Revival of silent account shall be done at SO where there are two supervisor, register to maintain
Point 11 Transfer of savings account from SBGEN to SBCHQ can be done at SO Level, where there are two supervisor
SO's should not lodge cheque in finacle, Cheque recived for new investment and subsequent investment should to
Point 24 ho for clearing. SO should maintain a register for entering all the Cheque sent to HO
Point 27 POSB Cheque of other offices can be accepted for opening of new accounts irrespective of amount
Point 28 Pledging can be done at SO where there are two supervisor
12 Presentation of passbook is not required for Depsoit or withdrawal, except in case of bo accounts
Addenum II
05/2016 Transfer of Account from one person to another in SO level
02/2016 Acceptance of POSB account when Finacle is down
Clarification to SB order 12/2015 and 15/2015 ( No Customers should compel to open SB Account, Other cheques
17/2015 should accept)
15/2015 Addenum to SB Order 12/2015
Mandatory opening of Savings accounts in Post office for maintaining / development of relationship of customers
12/2015 with POSB
07/2015 Clarification in different scenarios being faced or likely to be faced by postoffices after implemenation of CBS
06/2015 Introductiion of common account opening form for all schemes in CBS offices
08/2014 Clarification on different scenarios being faced or likely to be faced by Post offices after implementation of CBS
05/2014 Change in statutory rules of POSB in the back drop of implementation of CBS reg
02/2014 Change in Some Procedure of POSB in the back drop of implementation of CBS regarding
Printing of Modified standardized uniform Savings Bank Passbook for CBS Post office and Change in text of
01/2014 information printed in the passbook about samall savings scheme
Type of Period
Remarks
998
000
001
002
003
011
012
013
014
014
015
rds
016
016
016
017
017
017
017
017
018
Account
SB 5.50 4.50 4.50 3.50 3.50 3.50 4.00 4.00 4.00 4.00 4.00 4.00 4.00 4.00 4.00 4.00 4.00 Annualy
RD 7.50 8.00 8.40 8.30 8.40 8.40 8.40 7.40 7.30 7.20 7.10 6.90 Comp Qly
MIS 8.00 8.20 8.50 8.40 8.40 8.40 8.40 7.80 7.70 7.6 7.5 7.3 Monthly
PPF 8.00 8.60 8.80 8.70 8.70 8.70 8.70 8.10 8.00 7.9 7.8 7.6 Annualy
6 Year NSC 12.00 11.50 11.00 9.50 9.00 8.00 N.A. N.A. N.A. N.A. N.A. N.A. N.A. N.A. NA NA N.A Comp Hly
5 Year NSC N.A. N.A. N.A. N.A. N.A. N.A. 8.40 8.60 8.50 8.50 8.50 8.50 8.10 8.00 7.9 7.8 7.3 Comp Hly
10 year NSC N.A. N.A. N.A. N.A. N.A. N.A. 8.70 8.90 8.80 8.80 8.80 8.80 N.A. N.A. N.A N.A N.A Comp Hly
KVP 8.70 8.70 7.80 7.70 7.6 7.8 7.3 Comp Yly
SCSS 9.00 9.00 9.30 9.20 9.20 9.20 9.30 8.60 8.50 8.4 8.3 8.3 Qly
SSA 9.10 9.20 8.60 8.50 8.4 8.3 8.1 Annualy
1 Year TD 10.50 9.00 8.00 7.50 7.25 6.25 7.70 8.20 8.20 8.40 8.40 8.40 7.10 7.00 6.9 [91] 6.8 6.6 Comp Qly
2 Year TD 11.00 10.00 9.00 8.00 7.50 6.50 7.80 8.30 8.20 8.40 8.40 8.40 7.20 7.10 7 [92] 6.9 6.7 Comp Qly
3 Year TD 12.00 11.00 10.00 9.00 8.25 7.25 8.00 8.40 8.30 8.40 8.40 8.40 7.40 7.30 7.2 [93] 7.1 6.9 Comp Qly
5 Year TD 12.50 11.50 10.50 9.00 8.50 7.50 8.30 8.50 8.40 8.50 8.50 8.50 7.90 7.80 7.7 [94] 7.6 7.4 Comp Qly
NSC INTEREST RATE

Maturity Maturity
Period Period Amt
18.05.1989 to 31.12.1998 6 201.5
01.01.1999 to 14.01.2000 6 195.6
15.01.2000 to 28.02.2001 6 190.12
01.03.2002 to 28.02.2002 6 174.52
01.03.2003 on wards 6 160.6
Interest
Rate
w.e.f Minimu
01.04.17( m
in amount
Percenta Year of of Maximum Amount of
Scheme ge) Maturity deposit Deposit Additional Information
Minumum : Rs 50/- Maximum No limit. Any number of account can be opened
but not more than one one single and one Joint account can be opened in
each Post office . Single Accounts can be opened by an adult or a minor or on
behalf of a minor or a person of unsound mind by a guardian. Joint accounts
can be opened by Two or three adults to be operated by them (a) jointly or by
the survivor which is called Joint-A type Account. (b) either of them /any of
them or either of the survivors or survivor which is called Joint -B Type
SB 4 No limit No limit account
Joint accounts can be opened by Two adults to be operated by them (a)
jointly or by the survivor which is called Joint-A type Account. (b) either of
them /any of them or either of the survivors or survivor which is called Joint -B
Type account. A rebate of Rs 1/- for evey 10 Ruppees will be given for 6
month Advance payment and Rs 4/- for 12 month Advance Deposit. Can
Withdraw 50% of Principal Amount as Loan after after completion of 12
months from date of Deposit. Account can Prematurely close after 3 years
RD 7.2 [95] 5 10 No limit and SB rate of Interest will calculate for these accounts
Minumum Year Subscription: 1000 Maximum :1,50,000 .Can be opened in the
name of Female child below 10 years . The deposit in an account may made
SSA 8.4 21 Years 1000 150000 (in a financial year) till completion of 15 years. Tax Deduction Under 80C
1 TD 6.9 [96] 1 Year 200 Should be in multiples of 200. Minimum Lock In period is 6 month.
2 TD 7 [97] 2 Year 200 Should be in multiples of 200. Minimum Lock In period is 6 month
3 TD 7.2 [98] 3 Year 200 Should be in multiples of 200. Minimum Lock In period is 6 month
Should be in multiples of 200. Minimum Lock In period is 6 month.Eligible For
5 TD 7.7 [99] 5 Year 200 Tax Deduction Under 80C
4,50,000 for single and

MIS 5 YEAR 1500 9,00,0000 for Joint account
Principal is eligible for Tax concession. Maximum Amount invest in the
scheme is 15 lakhs. Can be opened by self and with Spouse who have
attained 60 years. The scheme is available for VRS taken employess
provided that their age is above 55 years and only retirement benefits can
deposit in the scheme. The amount should deposit with in one months after
taking the VRS Scheme. There is no age limit for defence personnel provided
further the amount should be invested with in one month of retirement.
Account can be closed after one year . If the Account closed before two year
SCSS 5 YEAR 1000 1,500,000 1.5 % will deduct from Principle, If closed after 2 year 1% will deduct
Can be opened self or in the name of Minor. Only one account is allowed.
The account can extend to further period of 5 years after the maturity period.
Can take Loan from the account . The first loan can be taken in the 3rd year
PPF 15 YEAR 100 150000 (in a financial year) from year of opening of account. The amount is restricted to 25% in this case.
* Except SB and MIS a joint account can't be opened in the name of more than three adult.
1.Duplicate Passbook
SB 10
RD 10
SSA 50
scss 10 Subsequent 20
PPF 1
2. Nomination Varitaion Re.1/- in stamp
For 6 months Rs 1 for Deno 10/- [100] 0

RD Rebate
For 12 Months Rs 4/- for Deno 10 [101] 0
Payment to Minor ( PoSB volume 2)
Encashment of Certificates by minor

(1) A certificate purchased by a minor himself can be encashed by him in the same manner as adult
(2) A certificate Purchased on behalf of minor can be encashed by
(a) During the Period of Minority:- By the person appointed by Purchaser.
(b) After the minor attained majority :- The ex minor himself. Provided that
he should 18 year of age. Revised KYC to obtain
NO OF FREE TRANSACTION :- 5 (BOTH FINANCIAL AND NON FINANCIAL)
Amt withdrawan per day Rs 25000
Amount with drawan per transaction Rs.10000
[1] Order Supersedes memo no.13/02/2017
[2] Commission of PRSS scheme withdrawan on 01.10.16 but the scheme is not yet withdrawan
[3] Disontinued scheme can be closed only in HO. HO Can close the account of sub offices if the sub office is attached with that HO
[4] SB :4%
1 Yr: 7.1%
2Yr : 7.2
3Yr : 7.4
5 Yr: 7.9
RD : 7.4
SCSS :8.6
MIS : 7.8
5 Yr NSC : 8.1
PPF :8.1
KVP :7.8 (will mature in 110 Months)
SSA :8.6%
[5] SB :4.0 Annually

1 YR TD: 7.0 Qrtly
2 Yr TD: 7.1
3 Yr TD: 7.3
5 Yr TD: 7.8
5 Yr RD: 7.3 Qrtly
5 yr SCSS: 8.5 Qrtly
5 Yr MIS : 7.7 Monthly
5 Yr NSC :8.0 Anually
PPF: 8.1
KVP: 7.7 (Mature in 112 Months)
SSA :8.5
[6] No Change in Interest till 31.03.2017
[7] KVP Commission enhanced from 0.5% to 1%, MPKBY LIMIT ENHANCED TO 20000
[8] SB :4
1 Yr TD :8.4
2 Yr TD: 8.4
3 Yr TD :8.4
5 Yr TD :8.5
RD :8.4
5 Yr SCSS :9.2
5 Yr MIS : 8.4
5 Yr NSC : 8.5
10 Yr NSC :8.8
PPF :8.70
[9] Period of preservation of record from existig 10 years to 5 years
[10] SB : 4%
1 Yr TD :8.20%
2 Yr TD :8.30%
3 Yr TD :8.4%
5 Yr TD :8.5%
5 Year RD :8.4%
MIS :8.5%
SCSS: 9.30%
PPF :8.80%
NSC 8th Issue: 8.6%
NSC 9th issue: 8.9%
[11] It has been noted that post offices are accepting business from messengers of SAS/ MPKBY Agents. Which is highly irregular.When an authorized/
Accredited messenger is appointed by an appointment authority . It will forward a copy of authorisation letter, a specimen signature of messenger and his
photograph to post office.
[12] TD Accunt can be premarturely closed before completion of 1year but after 6 months of opening in such cases simple rate of interest is applicable from
time to time to Post office saving account shall be payable
[13] Supersedes all previous SB Orders regarding the subject
[14] It is clarified that NSC can be purchased by an adult in the Name of minor irrespective of any relation
[15] A Clarification to SB Order 03/2011
[16] Corrigendum to SB ORDER 13/2011
[17] Clarification to SB Order 11/2011
[18] Annexure-II and III may be attested either by Oath Commissioner or by Notary Public.
[19] Enhanced Maximum limit in a year from 70000 to 1,00,000
Rate of interest on loan is 2%
[20] The Maturity of MIS Changed to 5 Years
NO Bonus for MIS account opened after 01.12.2011
[21] Interest rate of SB Revised from 3.5% to 4%
[22] 1 Year 7.7

2 Year 7.8
3 Year 8.0
5 Year 8.3
[23] For Rs 10-738.62
[24] MPKBY :4%

1 Year TD :0.5%
2 Year TD :0.5%
3 Year TD :0.5%
5 Year TD :0.5%
MIS :0.5%
NSC :0.5%
SCSS :NIL
[25] Maximum limit of 2 years fixed for admissiblity of Post Maturity interest has been removed
[26] In case of premature closure of 1 Year, 2 Year, 3 Year or 5 Year account which were opened even before
1.12.2011, if the deposit is withdrawan after 6 months but before the expiry of one year from the date of deposit,
simple interest at the rate applicable to from time to time to post office savings account shall be payable. The rate of
interest shall be 3.5% up to the period 30.11.2011 and 4% thereafter.
(ii) In case of premature closure of 2 Year, 3 Year or 5 Year account which were opened even before 1.12.2011,
if the deposit is withdrawan after the expiry of one year from the date of deposit, interest on such deposits shall be
calculated at the rate, which shall be one per cent less than the rate which was applicable at the time of opening of TD
account
[27] (i) Postmaster includes Sub-Postmaster, Branch Postmaster, Dy.

Postmaster, A.P.M and SPMs in charge of SB Branch should not act as
an agent or messenger of a depositor for the purpose of withdrawal
from a saving bank account standing open in his office.
(ii) Any SAS/MPKBY/PPF agent cannot act as an agent or messenger of a
depositor for the purpose of withdrawal from his/her saving bank
account.
The account holder can appoint any person as messenger except above
restricted categories.
[28] The undersigned is directed to refer to this office letter of even number
dated 25.11.2009 and to say that the SB Order No.14/2009 is applicable to
RD/MIS only. In case of SCSS accounts all SPMs are already authorized to
sanction deceased claim cases where nomination is registered irrespective of
the amount involved.
[29] it has been

decided to issue fresh guidelines which shall supersede earlier guidelines
issued on 23.4.2010 and 2.6.2010. Therefore in supersession of this office
letter of even number dated 23.4.2010 and 2.6.2010, revised guidelines
on the subject are appended to this order.
[30] The exact definition of Spouse

is “either husband or wife.”
[31] This order will supersede all the
previous orders issued on TDS in small savings schemes.
[32] On receipt of various references from

the field units as well as Agent Associations and general public, clause (b) and
(c) of Para No.1 of the Annexure ‘A’ enclosed with SB Order 18/2010 have been
amended to exempt personal presence of the depositor(s)/Investor(s) at the
time of opening of account/purchase of certificates.
[33] It is therefore clarified that in case of Joint-B type investments, no

dispute over payment should be entertained and payment should be made in
normal course to the “either or survivor” whichever present the savings
instrument i.e passbook or certificate.
[34] It has now been decided to raise the existing limit Rs.2000/- to
Rs.5000/- in the post offices where Instant Counter Service is applicable. The
revised limit would be effective from 1.12.2009
[35] It has now been decided to delegate the power of sanction of deceased
claim cases of RD/MIS and SCSS accounts where nomination is registered in
the Sub Post Office to all SPMs except Single and Double handed offices
irrespective of the amount at credit in the accounts. This order would be
effective from 1.12.2009.
[36] Rule 10. Long Book not required
[37] In case of deposit by cheque, certificates will be prepared only after

realization of cheque
[38] it has been decided to enhance the present

limit of withdrawal from Rs.2000/- to Rs.5000/- w.e.f 15.12.2009.
[39] If a depositor of a cheque account wants to withdraw by means of an

application for withdrawal, the postmaster should carefully examine the same
and after due satisfaction that the withdrawal is genuine may allow the
withdrawal
[40] It is requested that a special drive in all SO/HPOs may be started to

check continuity of all type of SB-3s in all POSB schemes and revised SB-3
forms of all those found missing may be obtained. While taking revised SB-3,
obtaining of proper introduction of the depositor on the revised SB-3 as
prescribed in the rules for opening of account and copy of identity proof of the
depositor should be made compulsory.
[41] There is no specific provision for any matter in the rules, it need not to be applied. Hence it is now clarified that NRIs cannot invest in any of
the Small Savings Schemes and Power of Attorney cannot open any account in any of the Small Savings Schemes.
[42] Rule 7 of
PORD Rules 1981 has been amended and a special provision has been
incorporated to accommodate 7 defaults instead of 4 for the RD accounts
opened or to be opened by Defence Personnel in Field Post Offices. This
amendment will not be applicable to Civilian Defence Employees and other
depositors who have already opened accounts or will open RD accounts in
future in civil post offices.
[43] Guidelines for opening and operating of accounts by

blind/visually-impaired persons independently
[44] It is pertinent to note that so far as, Sub Post Offices are
authorized to register nomination in case of accounts opened under RD, MIS
and SCSS accounts only. In case of other schemes, HPOs will continue to
register nomination till further orders.
[45] It is clarified that in cases where the there is no nomination and the
claimant has not produced probate of will or letter of administration of
estates or succession certificate within three months of the death of the
depositor, the amount due in the account may be determined as under:-
“ The amount at credit at the time of death of the depositor plus the
interest accrued thereon up to the end of the financial year preceding the
year in which the death occurred”.
[46] TDS on a Sr. Citizen Saving Scheme 2004

account is now to be deducted for if the interest paid or payable exceeds Rs.
10,000/- during the financial year. TDS Shall be made from the entire
amount payable if it exceeds Rs. 10,000/-.
[47] Postmaster includes Sub-Postmaster, Branch Postmaster,

Dy. Postmaster, A.P.M and SPMs in charge of SB Branch
should not act as an agent or messenger of a depositor for
the purpose of withdrawal from a saving bank account
standing open in his office.
(ii) Any SAS/MPKBY/PPF agent cannot act as an agent or
messenger of a depositor for the purpose of withdrawal from
his/her saving bank account.
[48] if withdrawal form is presented by messenger and

the signature of depositor differs with the signature on record, the
payment should only be made to the depositor himself after his proper
identification by one of various means mentioned in Rule 36 and Rule 37
of POSB Manual Vol-I. In case of non-availability of original SB-3, revised
SB-3 should be taken from the depositor after completing all the
formalities required at the time of opening of new account. This revised
SB-3 should be attested by the APM/SPM and remark should be given on
the top of it as “Revised”. It should also be date stamped and then
payment should be made to the depositor himself
[49] a pensioner can now open pension

account either individually or jointly with his or her spouse in whose
favour an authorization for family pension exists in the Pension Payment
Order. In case of withdrawal from joint pension account, either of the
joint account holders can make withdrawals
[50] Only one deposit in the MIS account in multiple of Rs. 1500/- can be made instead of Rs. 1000/- as
provided earlier.
3. The maximum limit of investment in a single account has been raised from Rs. 3 lakh to Rs. 4.5 lakh and in joint account opened by two or threeadults;
the maximum limit has been raised from Rs. 6 lakh to Rs. 9 Lakh.
4. It has been observed that a declaration from the depositor that “ thedeposit in all accounts taken together opened by him do not exceed themaximum
limit”
[51] No tax is to be deducted if the

interest paid or payable does not exceed Rs.10,000/- during the financial
year. Tax shall also not be deducted at source on payment of interest payable
from 1.6.2007 to resident individuals who furnish a declaration in writing (in
duplicate) in form 15-G up to the amount of withdrawal of Rs. 1,10,000/-
per year (for men) and Rs. 1,45,000/- per year (for women). No tax will be
deducted on payment of interest to senior citizens of 65 years of age or above
who furnish declaration in writing (in duplicate) in Form 15-H.
[52] in cases of pre-mature closure of SCSS accounts (other than cases of death of
depositor), the interest will be payable till the date of premature closure,
after deduction of penalty, as specified in Rule 9(I) (a)&(b) of SCSS Rules
[53] the date of tendering of cheque/draft(Local) is

the date of credit in both RD as well as PPF schemes, the procedure laid down
in Rule 108 of POSB Manual Vol-I (except for outstation cheques) adopted for
deposit in RD accounts by cheque/draft should also be adopted in case of PPF
accounts as well so that subscribers of PPF accounts may not suffer loss of
interest.
[54] Interest rate of SB Revised from 3.5% to 4%
[56] If a depositor of a cheque account wants to withdraw by means of an

application for withdrawal, the postmaster should carefully examine the same
and after due satisfaction that the withdrawal is genuine may allow the
withdrawal
[57] a pensioner can now open pension

account either individually or jointly with his or her spouse in whose
favour an authorization for family pension exists in the Pension Payment
Order. In case of withdrawal from joint pension account, either of the
joint account holders can make withdrawals
[58] if withdrawal form is presented by messenger and

the signature of depositor differs with the signature on record, the
payment should only be made to the depositor himself after his proper
identification by one of various means mentioned in Rule 36 and Rule 37
of POSB Manual Vol-I. In case of non-availability of original SB-3, revised
SB-3 should be taken from the depositor after completing all the
formalities required at the time of opening of new account. This revised
SB-3 should be attested by the APM/SPM and remark should be given on
the top of it as “Revised”. It should also be date stamped and then
payment should be made to the depositor himself
[59] Rule 7 of
PORD Rules 1981 has been amended and a special provision has been
incorporated to accommodate 7 defaults instead of 4 for the RD accounts
opened or to be opened by Defence Personnel in Field Post Offices. This
amendment will not be applicable to Civilian Defence Employees and other
depositors who have already opened accounts or will open RD accounts in
future in civil post offices.
[61] The Maturity of MIS Changed to 5 Years
NO Bonus for MIS account opened after 01.12.2011
[62] (i) Postmaster includes Sub-Postmaster, Branch Postmaster, Dy.

Postmaster, A.P.M and SPMs in charge of SB Branch should not act as
an agent or messenger of a depositor for the purpose of withdrawal
from a saving bank account standing open in his office.
(ii) Any SAS/MPKBY/PPF agent cannot act as an agent or messenger of a
depositor for the purpose of withdrawal from his/her saving bank
account.
The account holder can appoint any person as messenger except above
restricted categories.
[63] Only one deposit in the MIS account in multiple of Rs. 1500/- can be made instead of Rs. 1000/- as
provided earlier.
3. The maximum limit of investment in a single account has been raised from Rs. 3 lakh to Rs. 4.5 lakh and in joint account opened by two or threeadults;
the maximum limit has been raised from Rs. 6 lakh to Rs. 9 Lakh.
4. It has been observed that a declaration from the depositor that “ thedeposit in all accounts taken together opened by him do not exceed themaximum
limit”
[64] TD Accunt can be premarturely closed before completion of 1year but after 6 months of opening in such cases simple rate of interest is applicable from
time to time to Post office saving account shall be payable
[65] In case of premature closure of 1 Year, 2 Year, 3 Year or 5 Year account which were opened even before
1.12.2011, if the deposit is withdrawan after 6 months but before the expiry of one year from the date of deposit,
simple interest at the rate applicable to from time to time to post office savings account shall be payable. The rate of
interest shall be 3.5% up to the period 30.11.2011 and 4% thereafter.
(ii) In case of premature closure of 2 Year, 3 Year or 5 Year account which were opened even before 1.12.2011,
if the deposit is withdrawan after the expiry of one year from the date of deposit, interest on such deposits shall be
calculated at the rate, which shall be one per cent less than the rate which was applicable at the time of opening of TD
account
[66] when there is arrear in a prematurely closed PPF account. The depositer need not paid the arrear along with default.
In a extended PPF account when the customer close the account before 5 years there will be reduction of 1% of interest applicable from the date of
commencement of 5th year
[67] Enhanced Maximum limit in a year from 70000 to 1,00,000
Rate of interest on loan is 2%
[68] Corrigendum to SB ORDER 13/2011
[69] the date of tendering of cheque/draft(Local) is

the date of credit in both RD as well as PPF schemes, the procedure laid down
in Rule 108 of POSB Manual Vol-I (except for outstation cheques) adopted for
deposit in RD accounts by cheque/draft should also be adopted in case of PPF
accounts as well so that subscribers of PPF accounts may not suffer loss of
interest.
[70] The exact definition of Spouse

is “either husband or wife.”
[71] in cases of pre-mature closure of SCSS accounts (other than cases of death of
depositor), the interest will be payable till the date of premature closure,
after deduction of penalty, as specified in Rule 9(I) (a)&(b) of SCSS Rules
[72] No tax is to be deducted if the

interest paid or payable does not exceed Rs.10,000/- during the financial
year. Tax shall also not be deducted at source on payment of interest payable
from 1.6.2007 to resident individuals who furnish a declaration in writing (in
duplicate) in form 15-G up to the amount of withdrawal of Rs. 1,10,000/-
per year (for men) and Rs. 1,45,000/- per year (for women). No tax will be
deducted on payment of interest to senior citizens of 65 years of age or above
who furnish declaration in writing (in duplicate) in Form 15-H.
[73] TDS on a Sr. Citizen Saving Scheme 2004

account is now to be deducted for if the interest paid or payable exceeds Rs.
10,000/- during the financial year. TDS Shall be made from the entire
amount payable if it exceeds Rs. 10,000/-.
[74] It is clarified that NSC can be purchased by an adult in the Name of minor irrespective of any relation
[75] Commission of PRSS scheme withdrawan on 01.10.16 but the scheme is not yet withdrawan
[76] KVP Commission enhanced from 0.5% to 1%, MPKBY LIMIT ENHANCED TO 20000
[77] MPKBY :4%

1 Year TD :0.5%
2 Year TD :0.5%
3 Year TD :0.5%
5 Year TD :0.5%
MIS :0.5%
NSC :0.5%
SCSS :NIL
[78] A Clarification to SB Order 03/2011

[80] Postmaster includes Sub-Postmaster, Branch Postmaster,

Dy. Postmaster, A.P.M and SPMs in charge of SB Branch
should not act as an agent or messenger of a depositor for
the purpose of withdrawal from a saving bank account
standing open in his office.
(ii) Any SAS/MPKBY/PPF agent cannot act as an agent or
messenger of a depositor for the purpose of withdrawal from
his/her saving bank account.
[81] It is requested that a special drive in all SO/HPOs may be started to

check continuity of all type of SB-3s in all POSB schemes and revised SB-3
forms of all those found missing may be obtained. While taking revised SB-3,
obtaining of proper introduction of the depositor on the revised SB-3 as
prescribed in the rules for opening of account and copy of identity proof of the
depositor should be made compulsory.
[82] Order Supersedes memo no.13/02/2017.

Collect PAN or form 60 if the amount of deposit exceeds rs 50000/- at a stretch or 10 lakhs in aggregate
[83] Supersedes all previous SB Orders regarding the subject
[85] On receipt of various references from

the field units as well as Agent Associations and general public, clause (b) and
(c) of Para No.1 of the Annexure ‘A’ enclosed with SB Order 18/2010 have been
amended to exempt personal presence of the depositor(s)/Investor(s) at the
time of opening of account/purchase of certificates.
[86] it has been

decided to issue fresh guidelines which shall supersede earlier guidelines
issued on 23.4.2010 and 2.6.2010. Therefore in supersession of this office
letter of even number dated 23.4.2010 and 2.6.2010, revised guidelines
on the subject are appended to this order.
[87] Annexure-II and III may be attested either by Oath Commissioner or by Notary Public.
[88] The undersigned is directed to refer to this office letter of even number
dated 25.11.2009 and to say that the SB Order No.14/2009 is applicable to
RD/MIS only. In case of SCSS accounts all SPMs are already authorized to
sanction deceased claim cases where nomination is registered irrespective of
the amount involved.
[89] It has now been decided to delegate the power of sanction of deceased
claim cases of RD/MIS and SCSS accounts where nomination is registered in
the Sub Post Office to all SPMs except Single and Double handed offices
irrespective of the amount at credit in the accounts. This order would be
effective from 1.12.2009.
[90] It is clarified that in cases where the there is no nomination and the
claimant has not produced probate of will or letter of administration of
estates or succession certificate within three months of the death of the
depositor, the amount due in the account may be determined as under:-
“ The amount at credit at the time of death of the depositor plus the
interest accrued thereon up to the end of the financial year preceding the
year in which the death occurred”.
[91] 200-214
[92] 200-228
[93] 200-245
[94] 200-280
[95] 100-7251
[96] 1000- 1072
[97] 1000-1146
[98] 1000-1225
[99] 1000-1400
[100] Enter Amt to Calculate Rebate
[101] Enter Amt to calculate Rebate

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SB ORDERS 2017

SB ORDER NO Description Deals with

03/2018 Prevention of Frauds

04/2018 Revision of Interest of Small savings schems

02/2017 Revision of Interest

04/2017 Deposit of Specific bank notes in Reserve Bank

05/2017 Revision of Interest in small savings schemes

06/2017 Discontinuation of Commission under Pay Roll Savings Schemes [2]

07/2017 Premature closure of PPF account a Clarification

12/2017 Commission on KVP to SAS agent reduced from 1% to 0.5%

13/2017 Revision of Interest in small savings schemes

14/2017 Printing of Passbook CBS

19/2017 Revision of Interest in small savings schemes

SB ORDER NO Description Deals with

Point 28 Pledging can be done at SO where there are two supervisor

16/2015 Discontinuance of NSC 9 issue CERTIFICATES

SB ORDER NO Description Deals with

Change in the procedure of payment of commission to SAS/MPKBY Leaders in the

SB ORDER NO Description Deals with

03/2012 Release of sanchay Vesion 6.6

09/2012 Introduction of depositer at the time of opening of account SB

17/2011 Admissibility of commission to SAS Agents

28/2011 Revision of Interest rate of RD W.e.f 01.12.2011 [23]

04/2010 Payment of monthly interest to MIS account holders [27] MIS

Printing of new account opening form (SB-3) circulated in 2008.

22/2010 [32] AML-CFT

01/2009 Calculation of Post Maturity Interest- a clarification

17/2009 Revised rules of POSB Manual Vol-I [36]

20/2009 Regularization of irregular opened/issued accounts/certificates.

Please email your comments and feed back to mailto:kiran.ptc@gmail.com

01/2007 Grant of honorarium for calculation of interest in RD premature closure

04/2010 Payment of monthly interest to MIS account holders [62]

Terms and condition for Opening of MIS

11/2014 Extension of PPF Scheme To Private sector banks

03/2013 Identification of PPF(HUF) accounts and admissibility of interest in such accounts

Terms And Condition for Opening of PPF Account

Amendment in Rule 3 of SCSS Rules and regularization of SCSS accounts opened in

Terms And Condition for Opening of SCSS Account

Minimum Amount for opening of account is Rs 1000/- and Multiples of Rs 1000/-

Documents Required For Opening of Account

16/2015 Discontinuance of NSC 9 issue

12/2014 Reintroduction of KVP

ADDENUM TO 12/14 Reintroduction of Sale of KVP -Procedure

Procedure to issue Duplicate NSC

1. Filled Form-NC29 for the Issue of Duplicate Certificate

A- Bond of Idemnity (Form NC-54(a))

B- Bond of Idemnity (Form NC-54(b))

6. Payment Receipt of Fees for Issue of Duplicate Certificates (Fee Rs.5)

Things you should Know

Addenum to SB Order Acceptance of business from SAS agent regarding

Measure to taken for prevention of frauds [79]

14/2008 Acceptance of business from agents found involved in fraud cases

14/2015 Change of Role of SBCO in the backdrop of implemenation of CBS -Regarding

Discontinuance of submission of pencil copy of HO list of transactions to AO(ICO) by SBCO-Amendment to

Taking of Know Your Customer(KYC) documents at the time of credit of maturity

Action Plan to “Identify potential areas of corruption related to Departmental

Introduction of Anti-Money Laundering (AML)/Combating of Financing of Terrorism (CFT) norms for

Point VI No postmaster Cheque should issued to customer after 01.12.2017

Para 20 BO Transaction should not entered , If Bo Bag recived after 03.30 PM

Para 31 Issue of DPB Should done at HO only.

NSC INTEREST RATE

4,50,000 for single and

For 6 months Rs 1 for Deno 10/- [100] 0