SB ORDER NO. 33/2011 : Issue of clarifications regarding premature closure of TD accounts.



SB ORDER NO. 33/2011
F.No.113-01/2011-SB
Government of India
Ministry of Communications & IT
Department of Posts
Dak Bhawan, Sansad Marg,
New Delhi-110001, Dated: 13.12.2011
To
All Heads of Circles/Regions
Addl. Director General, APS, New Delhi.       
Subject:-                                Issue of clarifications regarding premature closure of TD accounts.
Sir / Madam,
The undersigned is directed to refer to this office SB Order No. 27/2011 dated 24.11.2011 vide which decisions taken by Min. of Finance regarding changes in POTD scheme effective from 1.12.2011 were circulated.

2.             Some circles have asked for clarifications regarding applicability of reduction in interest rate to be charged on premature closure of TD accounts to the old accounts. It is clarified that:-
(i)            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. Interest calculation tables for the TD accounts opened before 1.12.2011 and opened on or after 1.12.2011 and applied for premature closure on or after 1.12.2011 are enclosed.



READ MORE>>
at No comments:
Labels: ,

SB ORDER NO. 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.



SB ORDER NO. 32/2011
F.No.113-01/2011-SB
Government of India
Ministry of Communications & IT
Department of Posts
Dak Bhawan, Sansad Marg,
New Delhi-110001, Dated: 13.12.2011
To
All Heads of Circles/Regions
Addl. Director General, APS, New Delhi.       
Subject:-           Circulation of Notifications issued by Min. of Finance (DEA) notifying the changes in rules of different savings schemes effective from 1.12.2011 - regarding.

Sir / Madam,
The undersigned is directed to refer to this office SB Orders No.22/2011 to 27/2011 dated 24.11.2011 vide which decisions taken by Min. of Finance regarding changes in small savings schemes effective from 1.12.2011.
Following notifications issued by MOF(DEA) are enclosed:-
(i)            GSR 841(E) dated 25.11.2011
(ii)           GSR 842(E) dated 25.11.2011
(iii)          GSR 843(E) dated 25.11.2011
(iv)          GSR 844(E) dated 25.11.2011
(v)           GSR 845(E) dated 25.11.2011
(vi)          GSR 846(E) dated 25.11.2011
(i)            SO No. 2681 dated 25.11.2011
(ii)           SO No. 2682 dated 25.11.2011
(iii)          F.1/10/2011-NS-II dated 25.11.2011
(iv)          F.1/12/2011-NS-II dated 25.11.2011

2. It is requested these notifications may be circulated to all post offices for information and necessary guidance
please.

3. This issues with the approval of DDG(FS).
Yours faithfully,
(Kawal Jit Singh)
Assistant Director (SB) 
at No comments:
Labels: ,

SB ORDER NO. 31/2011 : Modifications in PORD Rules 1981, Post Office Monthly Income Account Rules 1987, POTD Rules 1981, KVP Rules 1988, NSC (VIII-Issue) Rules 1989-regarding.


SB ORDER NO. 31/2011
F.No.113-01/2011-SB
Government of India
Ministry of Communications & IT
Department of Posts
Dak Bhawan, Sansad Marg,
New Delhi-110001, Dated: 13.12.2011
To
All Heads of Circles/Regions
Addl. Director General, APS, New Delhi.       

Subject:-        Modifications in PORD Rules 1981, Post Office Monthly Income Account Rules 1987, POTD Rules 1981, KVP Rules 1988, NSC (VIII-Issue) Rules 1989-regarding.

Sir / Madam,
The undersigned is directed to enclose copies of Min. of Finance (DEA) Notification No. GSR 740(E), GSR 741(E), GSR 742(E), GSR 743(E) and GSR 744(E) dated 04.10.2011 for information and necessary action. Changes made through these notifications are listed below:-

(1)           In case of RD accounts opened between 1st Day and 15th Day of a calendar month, the each subsequent deposit in the account shall be made up to 15th day of the next month and in case of RD accounts opened between 16th day and last working day of the calendar month, the each subsequent deposit in the account shall be made up to the end of the next calendar month.

Procedure:-         This change should be made applicable from 1.01.2012 to all old as well as new accounts. In the month of January 2012, as and when any depositor/MPKBY agent attends the post office for subsequent deposit, a rubber stamp should be fixed on the cover and first page of the Passbook informing the last date up to which the depositor can deposit his monthly installment in the next month. Following is the sample of stamps:-

READ MORE>>
at No comments:
Labels: ,

CHANGES IN POSTAL SAVINGS SCHEMES W.E.F 01/12/2011




SB ORDER dt 24.11.11
SCHEME
FEATURE
EXISTING
REVISED w.e.f. 01.12.2011
REMARKS AND
ACTION TO BE TAKEN
22
KVP
CERTIFICATE ISSUE
Available
Discontinued
Existing stock to be returned from SO to HO and from HO to CSD after 30.11.2011
23
NSC
PERIOD
6 year
5 year
Rubber stamp to be affixed in NSCs about new period and maturity value.
MATURITY VALUE
Rs.160.10 for Rs.100 Dn
Rs.150.90 for Rs.100 Dn
10 YEAR NSC IX ISSUE
Not Available
Available
Features not mentioned now.
24
PPF
MAXIMUM SUBSCRIPTION LIMIT
Rs.70,000
per annum
Rs.1,00,000 per annum
INTEREST RATE
8 % p.a
8.6 % p.a
New interest applicable for balance at credit in account from 01.12.2011
LOAN INTEREST
1% p.a
2% p.a
1 % p.a Int will continue for Loan taken before 30.11.11
25
MIS
PERIOD
6 year
5 year
Rubber stamp to be affixed in PB about the new features
INTEREST RATE
8 % p.a
8.2 % p.a
BONUS
5 % on pri.
Discontinued
26
SB
INTEREST RATE
3.5 % p.a
4% p.a
New interest applicable for balance at credit from 01.12.2011
27
TD
PMC (from 6 months to 1 year)
No interest
SB Interest
For accounts closed on or after 01.12.2011
PMC deduction
2 % Int less
1 % Int less
Refer Rule 8 and rate table in Rule 7 of POTD rules
1 TD
INTEREST
6.25 % Q.C.I
7.7 %   Q.C.I
Interest applicable for accounts opened on or after 01.12.11
(Q.C.I-Quarterly Compounded Interest)
2 TD
INTEREST
6.5 %   Q.C.I
7.8 %   Q.C.I
3 TD
INTEREST
7.25 % Q.C.I
8.0 %   Q.C.I
5 TD
INTEREST
7.5 %   Q.C.I
8.3 %   Q.C.I
28
RD
MATURITY VALUE
Rs.728.90 for Rs.10- Dn
Rs.738.62 for Rs.10- Dn
Proportionate value for other Denominations
29
AGENT
COMM 
PPF
1 %
Discontinued
Applicable for deposits made on or after 01.12.11
SCSS
0.5 %
Discontinued
MIS,TD,NSC
1 %
0.5 %
RD (MPKBY)
4 %
4 %
Points to remember for Cheque Deposits: 
  • Investment in KVP through Cheque should not be accepted w.e.f. 28.11.2011. If any cheque presented before 28.11.2011 is cleared after 30.11.2011,  the amount should be refunded to depositor. 
  • After 25.11.2011 while accepting cheques for opening MIS, rubber stamp should be affixed on counterfoil “No Bonus shall be payable if cheque is credited to Govt. Account after 30.11.2011 
  • Rate of interests applicable according to the Date of Clearance of cheque.
  • Courtesy : http://sapost.blogspot.com
at No comments:
Labels: , ,
Subscribe to: Posts (Atom)