SB ORDER NO.

2512022

F. No. FS- 13/7/2020-FS-Part(1)

Government of India
Ministry of Communications
Department of Posts

Dak Bhawan, Sansad Marg,

New Delhi'110001.
Date: 16.12.2022

To,

All Heads of Circles/Regions

Subiect: - Freezing of Small Savings Schemes accounts get matured but not closed
after 3 years of maturity reg.
Sir / Madam,

As part of continuous improvement in making the CBS system robust,

incremental changes are implemented to ensure that the risk of misappropriation
involved in CBS operations is minimized.

2. In view of the safety of depositors' hard-eamed money and ensuring effective

KYC compliance, competent authority has decided to freeze those
MIS/SCSS/TD/KVP/NSC/RD accounts which have been matured till 30.09.2019
but not closed.

3. The details of freeze code is as under: -

(i) Freeze reason code: INOP: - Inoperative more than 3 years.

(ii) Cutoff date: -30.09.2019 (i.e. account matured 3 years ago and remains live).
(iii)Schemes identified: - MIS/SCSS/TD/KVPAISC/RD (matured but not
extended)/PPF (matured but not extended)

4. A "Standard Operating Procedure for handling of accounts/certificates marked

freeze under reason code "INOP: - Inoperative more than 3 years" to be followed in
this regard is enclosed herewith.

5. It is requested to circulate it to all concerned for information, guidance and

necessary action.

This issues with the approval ofcompetent authority.

Enclosed: - As above (Annexure) Yours Sincerely

€ 2-l
(Deve n dra Sharma)
Asstt. Director (SB-ll)
Copy to:-

1. DDGGS)/DDGMIGYJS&FA/DDG@AF)/DDG(RB)/DDG (EStI.)/DDG(PG &

Inspections)IDDG (PCO)
2. Director (Fs)/Dtuector (CBS), Dak Bha*an.
3. Director of Audit (P&f), Oettrl.
4. Resident Audit Offrcer, Room No.517-B, Dal< Bhawan, New Delhi.
5. All DirectorslDy. Directors of Accounts, Postal
6. Director, RAKANPA, Ghaziabad.
7. A1l Directors, Postal Training Centers.
8. Director PTC Mysore for uploading the SB order on India Post Web Site.
9. Deputy Director (CEPT) O/o CPMG ?.N.CircIe, Chennai.
10. AD /Inspection/PFA/igilance
11. AII Accounts Officers ICOGB)
12. All recognized unions.
13. MOF(DEA), NS-II, North Block, New Delhi
14. PS to Member (Banking)
15. PPS to DG Posts.
16. PPS to Secretary Posts.
 ANNEXURE

Standard Operatins Procedure for handlin s of handline of

accounts/certificates marked fr eeze und er reasqn code "INOP: - lnoperative
more than 3 Vears

The following accounts under various National Savings Schemes have been
marked as freeze with freeze reason code "INOP: - Inoperative more than 3 years,
which already have been matured but not closed within 3 years and cut-off date is
taken as 30.09.2019.

2. The details of schemes are as under: -

(i) MIS/SCSS/TD/KVP/NSC/RD (matured but not extended)

(ii) PPF (matured but not extended)

3. As and when account holder approaches the post office concemed for
closure of account identified under "INOP: - Inoperative more than 3 years", the post
office concemed shall follow the below mentioned procedure: -

(i) lf any account holder whose account/certificate is found to be Frozen with freeze code
"INOP: - Inoperative more than 3 years" attends any post office with
Certificate or Passbook for closure, the accou nt/certificate holder should be requested
to submit the following documents: -

a) Passbook/Certificate

b) KYC Documents (Mobile number, PAN card and Aadhaar or address proof as per
rule 6 of Government Savings Promotion General Rules-2018)

c) Account Closure Form (SB-7A): - Account holder should also be requested to submit
account closure form, passbook and details of PO Savings Account number or Bank account
details along with a cancel cheque/copy of passbook for credit of maturity value into his/her
savinBs account. Depositor(s) signature shall be obtained on acquittance portion of account
closure form, so account holder(s) need not to visit post office again and maturity value get
credited in his,&er PO Savings Account or Bank Account.

(ii) The SPM/Counter PA will first check & confirm the details of depositor and tally signature
with Finacle/SS Book/SB-3/AOF and ensure genuineness of the account holder with
relevant records.

(iii) lf the account stands in Sub Office/Branch Post Office the SPM concerned shall forward
the passbook, account closure form, KYC document of account holder to Head Post
office concerned for unfreezing and closure of accou nt/certificate concerned.
Procedure at Head Post Office

Note: - For account standing in Head Post Office, similar documents shall be obtained from
the account holder and follow the procedure prescribed below.

(iv) After receipt of for unfreezing and closure at Head Post Office, designated PA and
a case
APM (SB) shall verify the account details of documents received with Finacle. After
verification of the genuineness of the case, the account/certificate concerned shall be
unfreezed with two Supervisors of HO.

(v) After unfreezing ofthe accou nt/certificate, Counter PA of Head Post Office, shall proceed
for closure of account/certificate. The maturity value shall be credited either in PO
Savings Account or Bank Account ofthe Account holder (Through ECS outward credit).

(vi) After closure of account by counter PA, APM (SB) shall verify closure ofaccount.

(vii) ln Head Post Office, a separate register will be maintained for'REGISTER FOR CLOSURE
of account identified as |NOP-lnoperative for more than 3 years. The register shall
be maintained in Head Post Office in following proforma: -

Date unt Name oI Name of SOL where Date o{ Date of Scheme

receipt No./ Account Accou nt/Certificate opening maturity
of ca Certificate /Certificate Stands
from Su Registration Holder
Office. number

7 3 4 4 5 6
lz
Date Principal lnterest Maturity credit Signature Signature Signature of
"l
closu re Amount Amount d eta ils of of Postmaster.
paid paid (POSB Account No. counter Supervisor
or Ban k Account No PA
with MICR code)
8 9 11 72
t' l,o

(viii) After entering closure details in the above register, APM (SB) shall put up a register to
Head Postmaster for seen.

(ix) Thereafter, Passbook, Account closure form, KYC document and cancel cheque/copy of the
passbook shall be forwarded to SBco concerned along with other vouchers.

(x) SBCO PA and supervisor while checking vouchers of closed accounts which were
identified as INOP-Inoperative for more than 3 years, will check account details with
Account Closure Form and copies of KYC documents of Account holder are attached
with the voucher. lf any shortcoming is noticed, objection should be recorded as per
laid down procedure.
(xi) All Visiting/lnspecting Officers, while visiting/inspecting Head Post Offices, should
invariable check the prescribed register "REGISTER FOR CTOSURE OF account identified
as |NoP-lnoperative for more than 3 years" and see that procedure prescribed above is
followed scrupulously.

(xii) fortnightly report with circle CPC (CBS)on details of accounts unfreezed from
CEPT shall share
"INOP-lnoperative for more than 3 years" reason code.

(xiii) to the "REGISTER FOR

Circle shall get the report verified within a week with reference
CLOSURE OF account identified as |NoP-lnoperative for more than 3 years"
maintained at the Head Post Office and take appropriate measures in case any
d iscrepancy noticed.