HomeDept of Posts Orders 2020Process for transfer of account in National (Small) Savings Schemes - SB Order No. 37/2020

Process for transfer of account in National (Small) Savings Schemes – SB Order No. 37/2020

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SB Order No. 37/2020

Government of India
Ministry of Communications
Department of Posts

Dak Bhawan, Sansad Marg,
New Delhi-110001
Date: 10.11.2020

All Head of Circles/Regions

Subject :- Regarding revision of process for transfer of account in National (Small) Savings Schemes.

Sir / Madam,

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Kindly refer to the SB Order No. 12/2020, issued vide this office letter No. 116-12/2016-SB dated 14.05.2020. This office has been receiving representations from various sections regarding delay during manual transfer of account transfer application to home SOL and amendment/restoration of the provisions for transfer of account in National (Small) Savings Schemes.

2. The issue has been examined in this office in view of delay in account transfer process. Matter was taken up with the nodal Ministry’. In accordance with Department of Economic Affairs, Ministry of Finance’s O.M. no. 1/8/2016-NS dated 27.10.2020 the competent authority has decided to revise account transfer process as below.

Also Read : Dept of Posts SB Order : Relaxation guidelines in Small Savings Schemes

3.Accordingly, replace the text of note below rule 43(2) (a) in POSB (CBS) Manual.

Note: – Transfer of account shall be done by the HPO only. If application for transfer of account along with prescribed documents is presented at SO where the account stands or at other SO, the respective SPM shall send the application along with documents to their respective HO through account bag by entering in list of documents and details of such applications should be entered in a register to be maintained in manuscript. After receipt of transfer application at HO the HO will perform account transfer process as prescribed in rule 43(2) (a) of POSB (CBS) Manual.

4. It is requested that this SB order may be circulated to all concerned including CBS Post Offices for information and necessary action accordingly.

5. This issues with the approval of competent authority.

Yours faithfully,

(Devendra Sharma)
Assistant Director (SB)

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