Circulation of POSB (CBS) Manual (Corrected up to 31.12.2021)

Circulation of POSB (CBS) Manual (Corrected up to 31.12.2021): Department of Posts Order dated 18.02.2022

SB Order No. 03/2022

File No. 116 17/2017-SB
Govt. of India Ministry of Communications
Department of Posts (F.S. Division)

To
All Head of Circles / Regions

Dak Bhawan, New Delhi — 110001
Dated:  18.02.2022

Subject: Circulation of POSB (CBS) Manual (Corrected up to 31.12.2021) — Reg.

Sir / Madam,

POSB (CBS) Manual for operation of POSB Schemes in Core Banking Solution (CBS) platform was circulated vide issued vide SB Order No. 09/2018 dated 17.07.2018. Statutory rules relating to POSB viz. National Savings Schemes were amended by Ministry of Finance in the year 2018 & 2019. Operation of all National Savings Schemes was extended to the Branch Post Offices in the year 2020 and various SB orders have been issued by the Department related to POSB operation. The POSB (CBS) Manual has accordingly been revised by the FS Division of Postal Directorate and the same is approved by Director General (Postal Services). This manual is released aa POSB (CBS) Manual (Corrected up to 31.12.2021).

2. Some of the amendments incorporated in this version of Manual are listed below for reference.

• Contents of SB Orders issued after release of POSB (CBS) Manual, 2018, are incorporated.
• In respect of Deposits and Withdrawals from the accounts standing in RICT CBS BOs, from any CBS Post Office, sending of intimation of transactions happened in BO Accounts to the BOs concerned for updation in BO Journal has been discontinued.
• Deposit in Savings Account through SB Money Orders from Field Post Offices has been deleted.
• Closure of Accounts standing in BO through Cash payment is prescribed to be done only at Account Office.
• New provision for issue of certificate of payment / certificate of credit has been included to settle the discrepancies in the voucher due to the omission in voucher on the part of the post office.
• In case of memo of admission of payment, if the signature of the depositor or his agent, as the case may be, cannot be obtained, the case should be reported to the Head of the Circle for order and it was clarified that up to Rs. 500/ , Gazetted Postmaster or the Divisional Head may pass the orders personally. This has been modified that the case should be reported to Gazetted Postmaster or Divisional Head as the case may be, for passing final orders after necessary inquiries.
• In case of Change of Name of Depositor, submission of Gazette Notification has been added and new procedure for change of name of the minor depositor has been appended.
• Furnishing of report by Head of Circle to Directorate regarding verification of balances of account standing at branch offices the passbook of which are not received for interest posting has been deleted.
• Submission of quarterly report to FS Division of Directorate by the HoC on verification of withdrawals of Rs. 10,000/- and above in Savings accounts at branch offices has been deleted.
• Procedure of verification of balances of TD Accounts and other types of accounts has been modified. Sending of list of SB 46 notices issued by the Inspecting Authorities for verification by Account Office has been discontinued and proposed to be verified by the Inspecting Authorities themselves.
• Procedure for transfer of SCSS Account from PO to Bank and vice versa has been added.
• In all cases of the transfer of account from PO to Bank, the depositor should be requested to submit the account transfer application at the Bank only, as some of the bank branches may not operate National Savings Schemes.
• Procedure for Issue of Passbook / Closure of Account for the accounts (RD & TD) opened in e Banking and M Banking has been included.
• Contents of SAS/MPKBY Agency System are modified. Rules relating to Change of MPKBY Agent are appended.
• Procedure for ascertaining the solvency of sureties in case of deceased claim settlement procedure has been added.
• Provision for issue of reconciliation certificate in case of difference in the name of nominee has been included.
• In respect of payment of claim in settlement of deceased claims chapter, interest eligibility and payment options available to the claimants have been added.
• List of Countries under HAGUE APOSTILE CONVENTION has been updated.
• Many clarifications which were already issued as well as fresh clarifications are included as ‘Note’ under various rules.
• In Appendix — I (KYC / AML / CFT Norms), the documents to show as source of receipt of funds tendered for investment are included.
• Facility of dispatch of cheque book to the depositor by post at the cost of Depositor on request has been added.
• Following new chapters are added as Appendices
  • TDS Submission
  • Role of SBCO for CBS Post Offices
  • Handling of Cases for Relaxation in Rules
  • Interest Rates with effect from 01.04.1981
  • Specimen of important forms and registers

3. Further, a table of concordance linking the procedural rules in the POSB (CBS) Manual Version 2018 with the rules in the new version is appended, for easy reference.

4. The procedural rules in this version of Manual should be followed by all the CBS Post Offices and RICT — CBS Branch Post Offices.

5. Softcopy of the Manual is uploaded in India Post Website and the same can be downloaded by all the Administrative and Operative Offices.

6. Circles should ensure that a soft copy of this version of manual is available in all the systems in the post offices.

7. Circles are requested to take necessary action in this regard and this order may be circulated to all the Post Offices.

8. This is issued with the approval of DDG (FS).

(T.C. VIJAYAN)
Asst. Director (SB-I)

Source: DOP