ADDENDUM to SB Order 03/2020: Clarification on process for collection and accounting fee/charges for Post Office Saving Scheme under GSPR 2018 Rules

ADDENDUM to SB Order 03/2020: Clarification on process for collection and accounting fee/charges for Post Office Saving Scheme under GSPR 2018 Rules

S.B. Order 03/2020

F.No. 116-12/2016-SB
Government of India
Ministry of Communication
Department of Posts
(F.S. Division)

Dak Bhawan, New Delhi
Dated :- 03.03.2020

ADDENDUM

TO,

All Head of Circles,
Addl. Director General, APS, New Delhi

Subject:- Collection of various types of fee prescribed in GSPR-2018 under Schedule II – regarding.

Sir/Madam,

Kindly refer to the SB Order No. 03/2020, issued vide this office letter of even number dated 10.01.2020 on the subject cited above. This office has been receiving references from various Circles for some clarifications in the matter. The highlighted issues and clarification thereon are as under:-

1. How much amount to be collected for release fee ?

Clarification:- MoF has not mentioned any release fee in GSPR-2018 Schedule II. As such no release fee to be collected.

2. How much amount to be collected for transfer of certificates from one person to another person

Clarification:- Transfer of certificates from one person to another is also termed as a transfer. As such the fee prescribed for Transfer of Account/Certificates(per registration) is to be collected.

3. How to handle APS account transfer cases of those account which have been shifted in bulk to New Delhi GPO & Kolkata GPO?

Clarification :- All Small Savings Schemes Accounts opened in Army Postal Service stands shifted to the following offices due to administrative reasons-

(1) 1 CBPO accounts transferred to New Delhi GPO (2) 2 CBPO accounts transferred to Kolkata GPO.

In case any such account holder desires to further transfer his/her Small Savings Schemes Account from New Delhi GPO/Kolkata GPO to any other Post Office of his choice, no charges to be collected from them for their first transfer request, as the bulk transfer of accounts was done due to administrative reasons. Any further transfer would attract appropriate charges.

4. How to close Senior Citizen Savings Account before one year ?

Clarification :- Till necessary changes are made in Finacle, if customer desires premature closure of SCSS account before one year, the following process to be adopted-

(i) Transfer the account in scheme code SCEXP through HACXFRSC menu.

(ii) Close the account with value date as DATE OF ACCOUNT OPENING

(iii) Interest paid from date of account opening till date of closure will be recovered from principal.

(iv) It is responsibility of the CPA and Supervisor to ensure interest paid till date is recovered.

5. How to collect cheque return outward charges (dishonor fee) on cheque deposited for new account, opening/deposit in RD/PPF/SSA ?

Clarification :- These cheques are lodged in office account 0382. In case of dishonor, intimation to be given to the customer and when customer approaches the Post Office, dishonor fee is to be collected manually in SAP in the following GLs.

6. How to collect cheque return inward charges (dishonor fee) in those cases where account is not having sufficient balance and dishonor charges cannot be deducted in Finacle ?

Clarification :- In these cases intimation to be given to the customer and when the customer approaches the Post Office, dishonor fee is to be collected manually in SAP in the following GLs.

7. How to register Nomination in an account opened by a guardian/parent for a minor?

Clarification:– Till the necessary amendment are made in Finacle, a nomination register to be maintained in manuscript and nomination to be registered in that Nomination register for minor accounts. Once changes are done in Finacle, these nominations can be updated in Finacle from the manuscript register against the relevant account. Manuscript register can be discontinued once the option of Minor nomination Is provided in Finacle.

8. Whether fee to be collected in existing accounts, where no nomination exists and the customers subsequently request for registration of a nomination ?

Clarification:- No fee to be collected in existing accounts, where no nomination earlier exists and the customer applies for nomination for the 1* time. All subsequent requests would attract appropriate charges.

This issues with approval of the Competent Authority.

(Devendrd sharma)
Assistant Director (SB)

Connected Order

Post Office National Saving Scheme : Process for collection and accounting Fee/charges under GSPR 2018 Rules

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