ACCOUNTS
OPENED IN CONTRAVENTION OF RULES
(SB Order 09/2018, POSB(CBS) Manual Page No. 27 &28)
25 (1) If an
account is opened in contravention of the P.O.S.B. General Rules, 1981, the
account should be closed under the orders of the Head Postmaster. No further
transaction should be allowed in it. If any annual interest has been credited
in the account, it should be adjusted at the time of closure of the account
through the register of rectification of interest and a remark of adjustment
made in the ledger folio. A written notice in the following form should be sent
to the depositor indicating the irregular opening with a request to close the
account within 30 days of issue of notice and take the withdrawal payment
personally or through an agent. If the depositor does not comply with the
request within 30 days, the account may be closed and the amount remitted by
crossed cheque after deducting the interest if any already paid.
SPECIMEN OF NOTICE
NOTICE
Dear
Sir/Madam,
It
is noticed that your account No. ……… has been opened in contravention of rule
(4) of the Post Office Savings Account Rules, 1981. As no interest is
admissible on the deposits in such account vide rule 17 of P.O.S.B. General
Rules, 1981, I request you to close the account immediately. You may present
your pass book at …… office together with an application for withdrawal and
receive payment of the amount at your credit either personally or through an
agent. If, however, you failed to close the account within 30 days of issue
of this notice, the amount will be remitted to you by cheque after deduction
of amount of interest if paid any and the postage charges from the amount at
credit.
Yours faithfully,
Postmaster
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(2) At
the Head Office: - If
an account had been opened at the head office, action for its closure will be taken
in the usual manner when the pass book is presented by the depositor. Since no interest will be
admissible, care should be taken to see that annual interest, if any,
allowed on the account prior to the issue of the notice is adjusted from the
balance at credit while making the payment.
Note:
When the fact of opening the account in contravention of Rules come to the
notice, supervisor has to take steps to freeze the account immediately so that
no further transactions can be done in such accounts.
(3)
At
the Sub Office including its Branch Offices: - In case the account had been opened at
sub/branch office, sub
postmaster will send a notice to the depositor The notice should contain
instructions to the effect that no further transaction should be allowed in the
account. The balance in the account as in the
sub office record as also the amount of annual interest credited
to the account, if any, that has to be adjusted at the time of closure of the
account should be intimated. When the pass book is presented at the sub office
and the balance in the pass book tallies with finacle, the sub postmaster
should take action to close the account without further reference to the head
office and return his copy of the notice along with the warrant of payment.
Note:
When the fact of opening the account in contravention of Rules come to the
notice, sub postmaster has to refer the case to head office along with
prescribed documents to freeze the account immediately so that no further
transactions can be done in such accounts
(5) In
case of branch office, the application for withdrawal and the pass book will be
received in the account office which should take action to authorize payment
and return the warrant of payment and the pass book to the branch office. In
case, there is a difference between the balance in the pass book and balance in Finacle CBS
Application, the pass book and the application for withdrawal should be
sent to the head office and further action taken in accordance with the
instructions received from the head office.
Source: SB Order 09/2018, POSB(CBS) Manual Page No. 27 &28
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