Post Office: Regularization of irregularly opened MIS accounts in the multiples Rs 1000/- instead of Rs 1500/-

Regularization of irregularly opened MIS accounts in the multiples Rs 1000/- instead of Rs 1500/-

SB ORDER NO. 10/2014

No.110-01/2007-SB

Government of India

Ministry of Communications 8: IT

Department of Posts

Dak Bhawan, Sansad Marg,

New Delhi-110001, Dated: 19.09.2014

The undersigned is directed to refer to this office letter No. 110-1/2006-FS (SB Order 12/2006) dated 13.8.2007 vide which it was conveyed that MOF has amended Rule 4 and 5(1) of MIA Rules from 1.8.2007. As per amended rules, the MIS account is to be opened only in multiple of Rs.1000/- instead of Rs. 1000/- from 1.8.2007.

2. It has been brought to the notice of this office by some circles that in some Post Offices accounts in multiple of Rs.1000/- have been opened even after issue of said SB Order dated 13.8.2007 and now the Circles are sending the cases of irregularly opened MIS accounts for regulaization.

3. The matter was referred to Min. of Finance and it has now been decided by the Min. of Finance vide OM No. 1/2/2011-NS-II(Pt-I) dated 11th September,2014 to regularize all those MIS accounts which have been opened in the muitiples of Rs 1000/- instead of Rs 1500/-, in contrvention of POMIS Rules,1987.on notice of irregularity ,the balance of amount in multiples of Rs 1500/- be kept in the account and the remaining amount in the account be refunded to the account holder along with POSB rate of interest.The other terms and conditions in respect of POMIS accounts will remain as per POMIS Rules,1987. Such accounts may only be regularized after taking necessary action against erring officials.

4. This may be brought to the notice of all the Sub Post Offices and Head Post Offices for information, guidance and necessary action.

Yours faithfully,

(K. Ramalingaiah)

Assistant Director (SB-I)