INITIATIVES TO BE UNDERTAKEN FOR PROMOTION OF POSB SCHEMES-REG.

F.No.63-01/2015-SB

Government of India

Ministry of Communications & IT

Department of Posts

(F.S. Section)

                                                                        Dak  Bhawan, New Delhi

                                                            Dated: 30.06.2015

To

            Shri R.N. Parashar

            Secretary General

            National Federation of Postal Employees (NFPE)

            1^st Floor, North Avenue Post Office Building

            New Delhi-110 001

            Shri D. Theagarajan

            Secretary General

            Federation of National Postal Organization (FNPO)

Sub: Initiatives to be undertaken for promotion OF POSB schemes-reg.

D.G. Posts letter No. F.No. 63-01/2015-SB dated 30.06.2015.

Sir,

            The undersigned has been directed to forward herewith a copy of letter No. F. No.63-01/2015-SB dated 30.06.2015 on the subject cited above.

2.         It is, therefore, requested to disseminate the contents of the aforesaid letter through your newsletters/magazines among all the members for taking active participation in the initiatives to be undertaken for promotion of POSB Schemes and fulfillment of mandate of financial Inclusion in rural India.

Sd/-

L.K. Sinha

AGD(FS-I)

F.No.63-01/2015-SB

Government of India

Ministry of Communications & IT

Department of Posts

(F.S. Section)

                                                                                                Dak  Bhawan, New Delhi

                                                                                    Dated: 30.06.2015

To

            All Heads of Circles,

Sub:    Initiatives to be undertaken for promotion OF POSB schemes-reg.

            This is regarding promotion of Post Office Savings Schemes to meet the financial inclusion mandate in the rural areas. There are some initiatives which may promot the opening of POSB accounts. Some of the steps to be taken are suggested as blow:

i.          PO staff salary and wages accounts can be opened in the Post Offices with cheque facilities. The PO staff can continue to keep their bank accounts and enjoy loan and card facilities by simply issuing the POSB cheque towards their bank accounts and transfer whatever amount and may carry on banking activities.

ii.         All staff (Departmental, GDS/contingency paid and outsiders) may be paid salary and wages through POSB accounts.

iii.        POSB accounts may be opened in the name of social security beneficiaries (OAP) for crediting the social security benefits into their respective accounts. (SOP enclosed).

iv.        POSB accounts may be opened in the  name of Landlords who have  given  their building on rent to the Post Offices, for crediting the monthly rent to be paid to them.

v.         POSB accounts may be opened to all the pensioners who are getting pension from the Post Offices for crediting their monthly pension in their respective accounts.

vi.        Maturity payments to RD, TD,PPF,PLI,RPLI etc. may be paid  through POSB accounts. Postmasters may be instructed to persuade the customers to take payment through POSB accounts.

vii.       Delivery staff may be motivated to carry SB-3 application forms and receipt book so that they may bring in at  least one account per day.

viii.      A few GDS may be appointed exclusively to work as pygmy collectors from 5 PM to 9 PM in the whole  sale or retails  market area collecting daily cash from small vendors (Vegetable vendors,Hawkers, Petty shops/stores etc). SOP is enclosed with a certain arrangements of solidity and amenability to monitoring.

ix.        Deceased claim cases settlement and payments may be routed through POSB accounts, Beside this all  discharge payment of certificates can also be routed through POSB and no coercion shall be used.

x.         Opening of POSB accounts by the proponents of PLI/RPLI and Identification of POSB promoters in each Division to exclusively promote POSVB Schemes.

xi.        Under the Member of Parliament  village adoption programme, the entire village may be got covered-“Samporna Bachat/Bima/Sukanya Scheme “ with necessary support from the concerned Hon`oble Member of Parliament.

xii.       Advance SMS may be sent in case of maturity instrument and request be made to the customer to open SB account.

xiii.      Reinvestment by the existing customers may also be ensured.

xiv.      The SB account can be opened in CBS Post Office without taking KYC documents  again, if the earlier investment /account  opening has been done  after obtaining KYC documents. It will get linked to CIF, SB Account can be opened at the time of maturity of any instrument/investment also, if before maturity, KYC documents are to be collected, wherever applicable. A single AOF form will have to be filled.

xv.       As per prevailing banking practice, having SB account  has many benefits. Internet Banking, Debit card etc. facilities will also become available in all CBS Account for easy fund transfer to/from other accounts/instruments, held by him.

These issues with the approval of Member (Banking & HRD)

                                                                                                  Sd/-

                                                                                                 (Sachin Kishore)

                                                                                                    Director (FS)