1) The document provides guidelines for allowing authorized persons to withdraw, take loans from, close, or prematurely close postal savings accounts on behalf of account holders who are senior citizens, ill, or physically infirmed.
2) Key details include requiring account holders to submit an application (Form 12) authorizing the person, signatures to be attested, authorized persons cannot be SAS/MPKBY agents, and procedures for verification and documentation.
3) Payments will be made via account payee cheque or credit to another account, and physical verification may be done if needed, with strict procedures to protect account holders' money.
1) The document provides guidelines for allowing authorized persons to withdraw, take loans from, close, or prematurely close postal savings accounts on behalf of account holders who are senior citizens, ill, or physically infirmed.
2) Key details include requiring account holders to submit an application (Form 12) authorizing the person, signatures to be attested, authorized persons cannot be SAS/MPKBY agents, and procedures for verification and documentation.
3) Payments will be made via account payee cheque or credit to another account, and physical verification may be done if needed, with strict procedures to protect account holders' money.
1) The document provides guidelines for allowing authorized persons to withdraw, take loans from, close, or prematurely close postal savings accounts on behalf of account holders who are senior citizens, ill, or physically infirmed.
2) Key details include requiring account holders to submit an application (Form 12) authorizing the person, signatures to be attested, authorized persons cannot be SAS/MPKBY agents, and procedures for verification and documentation.
3) Payments will be made via account payee cheque or credit to another account, and physical verification may be done if needed, with strict procedures to protect account holders' money.
1) The document provides guidelines for allowing authorized persons to withdraw, take loans from, close, or prematurely close postal savings accounts on behalf of account holders who are senior citizens, ill, or physically infirmed.
2) Key details include requiring account holders to submit an application (Form 12) authorizing the person, signatures to be attested, authorized persons cannot be SAS/MPKBY agents, and procedures for verification and documentation.
3) Payments will be made via account payee cheque or credit to another account, and physical verification may be done if needed, with strict procedures to protect account holders' money.
F. No. FS-l4/l/2020-FS Government of India Ministry of Communications Department of Posts (F.S. Division)
Dak Bhawan, New Delhi-110001
Dated: - 0410812021 To,
A1l Head of Circles/Regions
Sub cct: - Regarding withdrawal I Loanl closure / premature closure of account through authorized person.
Sir/Madarn.
This office is receiving various representations from the depositors that due to old age or illness they are unable to attend post offices for withdrawal or loan or closure or premature closure of their accounts.
2. Keeping in view of difficulties faced by the Senior Citizens or people
suffering with illness, the issue was taken up with Ministry of Finance and keeping the provisions in Rule 1l of 'Government Savings Promotion General Rules-2018' in mind, competent authority has decided that in case of extreme exigencies (i.e' Senior Citizens or illness of account holder or suffering from physical infirmity or is with differently-abled conditions) the withdrawal or loan or account closure or premature closure may be allowed through authorized person.
3. Keeping in view of the safety of depositor's hard-eamed money, the
following procedure shall be followed for operation of account including withdrawal/loan/closure/premature closure of account through authorized person'
i) The account holder(s) shall write an application in Form- l 2 to the
postmaster concerned, for operation of account viz. withdrawal / loan / closure or premature closure of account etc.
ii) In the application form (Form- l2), the depositor shall authorize a literate person for operation of his/her account. iii) Signature of the authorized person shall be attested by the account holder(sj. ln case of Joint B Account, any one ol the account holder(s) can attest the signature of the authorized person.
ir) Authorized person shall not be an SAS/MPKBY agent or employee
wolking in PO Savings Bank Branch in the post office concerned'
v) The account holder shall fill the withdrawal form (sB-7) / closure fbrm (sB-7A) / account pretnature closure form (SB-7B) / Application for Loan (SB- 7C) as the case may be in his/her writing and signed'
vi) Self attested copy of ID and address proof of account holde_r(s) and authorized person shall also be enclosed. If any account holder(s) authorize a person for more than one transaction viz. withdrawal / loan / closure, on any day, -insuchcase,onlyoneSetofKYCdocutnentsandphotomaybeobtained. However. Fonn-l2 shall be obtained for each account'
vii) Authorized person shall subrnit passbook, authority letter (Form- 12), withdrawal form (SB-7) / closure form (SB-7A) / account premature closure form (sB-7B) / Application for Loan (sB-7C) as the case n.ray be and KYC documents of account hoider and authorized person at concerned post office'
viii) The counter PA shall tally signature of account holder(s) available in
withdrawal form (SB-7) / account closure tbnn (SB-7A) / account pfematule closure lbrm (SB-78) / Application for Loan (sB-7C) and Form-12 with signature available in Finacle and SB-3/AOF.
ix)Aftertallyingsignatureanddocuments,countelPAshallsubrlitthe case to Supervisor for aPProval.
x)Supervisorshaltalsocheckandveritydocumentsaswellassignature of the accouni holdeL(s1 with office record and if he/she is satisfied' he/she shall write order on top ofthe application as "authorization accepted" and sign.
xi)lncasethepostrnasterisnotsatistledaboutthegenuinenessofthe Iequest of the account holder, he/she may depute a responsible official to or physically verify the request of account holder for withdrawal or loan or closure prernature closure of his/her account befbre effbcting payment'
xii) Thereafter, counter PA/Supervisor shall ibllow the process for
withdrawal/Loan/Account closure/Account premature closure, as the case n-ray be
as prescribed in the rules.
or credit into PO xiii) The payrnent shall be niade by account payee cheque holder(s) No cash payment' Savings Account or Bank Account of the accourlt pelson except in case of i,.,l.rpE ,i"" ol arrount, .nuit u" given to the authorized withdrawal from Savings Account part of xiv) Signatr.rre of authorized person should be taken in acquaintance prematul'e withdrawal t:bnn (SB-7) / account closure form (SB-7A)/Account of account' closure form (SB-7b) / Application fbr Loan (SB-7C)' After closure account payee cheque or gbS outward receipt' passbook shall be handed over to the authorized Person. are to be xv) The authority letter (Form-12) along with KYC documents' attached with the voucher and submitted to SBCO'
SBCO branch shall check that no cash payment
is made. in cases of xvi) accounts closed by authorized persons irrespective of amount and all documents are in order.
Note:-PosavingsAccountholderscanavailChequeiATM/eBanking/ mBanking/lPPBAccountlinkingfacilitytowithdrawamountfromtheirPo Savings Account as per there .Jnr.ni..,t". All the Post offlces should provide Cn.qi"lAff, /eBanking/mBanking/IPPB Accout.tt linking facility to avoid inconvenience to account holders for SB withdlawal' in Form.12, letter 4. tt is f-urther clarified that for submission of authorization pfryri.ui p..r"r." of the account holder(s) is not nlandatory' It can be accepted tiom the authorized Person also'
5. It is requested to circulate these aurendtnents to all concerned for
iulbnnarion. guidance and necessary action'
6. This issues with the apploval of Competent Authority'
l2 Yours SincerelY, E,nclosed: - Form- ' o '1 oB 122?-l (Devendra Sharma) Assistant Director (SB-lI) Copy to:-
L Sr. PPS to Secretary (Posts)
2. PS to Director General (Postal Services)'
3. PPS/ PS to Addl. DG (Co-ordination)Avlember (Banking)/ Member (O)/ (Tech)/AS & FA Metnber (P)/ Mernber (Planning & HRD)/Member (PLI)/Member
4. Addl. Director General, APS, New Delhi
5. Chief General Manager, BD Directorate / Parcel Directorate
/ PLI Directorate
6. Sr. Deputy Director General (Vigilance) & CVO) / Sr' Deputy Director General (PAF)
7. Director. RAKNPA / GM, CEPT / Directors of all PTCs
8. Director General P & T (Audit), Civil Lines,, New Delhi
9. Secretaly, Postal Services Board/ All Deputy Directors General
13. All recognized Federations / Unions/ Associations
14. GM, CEPT for uploading the order on the India Post website'
15.MOF (DEA), NS-ll, North Block, New Delhi'
New 16. Joint Director & HoD, ICCW Building,4 Deendayal Upadhyay Marg, Delhi-110002
17. Guard File
18. Spare coPies.
FORM .12 (See Rule 11 of Government Savings Promotion Rules, 2018)
Letter of authority to open or operate an account under National savings
Schemes on behalf of depositor suffering from physical infirmity including blindness
To The Postmaster/Manager
Sir llwe de Positor of account number u nde r....-.......--(N a me of sche me) hereby authorise Sh./Smt./Ms. /o, slo, dlo-=,-_=--in whom I confide and whose photograph and signature are attested below to operate the said account for the following purposes. Paste Photogra Ph of 1 authorised person
3.
4.
Specimen signature of authorized person
1 2 3
signature of witness signature or thumb impression of Depositors
(Thumb impression should be attested by a person known to the Post Office)'
