POSB Manual Vol - I
SAVINGS ACCOUNT
Note:- These rules apply to the Post Office Savings Accounts and, also mutatis, to (1) Recurring
Deposit Accounts, (2) Time Deposit Account (3) P.P.F. Accounts (4) National Savings Scheme
Accounts (5) Post Office Monthly Income Accounts (6) Senior Citizens Savings Scheme Accounts
except where separate rules are made with regard to the particular type of accounts, in which case,
such rules relating to the particular type of accounts will apply.
SAVINGS BANK OFFICES
1 All Head Offices (H.O.), Sub-Offices (S.O.) and Branch offices (B.O.) with the exception of those
which are not vested with Saving Bank powers or from which the Savings Bank powers have been
withdrawn by the Head of Circle are Savings Bank offices. The facilities of deposits and withdrawals by
cheque are available only in Head and Departmental Sub Offices. The facilities of deposits only by
cheques and demand drafts are available at EDSOs and ED Branch Offices.
DUTIES AND RESPONSIBILITIES OF THE POSTMASTER AND TENURE
(1) The term Postmaster used in this chapter includes a Sub-Postmaster.
(2) All the duties of the Postmaster in connection with the Savings Bank Department may be
performed under the orders of the Head of the Circle by the Deputy Postmaster, Assistant Postmaster
or Assistant Sub Postmaster, to whom these may be assigned in the memo of distribution of work
except the following which shall be the personal responsibility of the Head Postmaster:-
(i) Sanctioning claims in respect of savings bank accounts of deceased depositors which lie within his power of sanction and the safe custody of the records relating to such claims.(ii) Signing and submission of S.B. returns to the S.B.C.O. in offices where there is no separate selection grade official in charge of the Savings Bank branch.
(3) The Postmaster will however remain personally responsible for the general functioning of the S.B.
Branch and in particular for regular submission of S.B. returns on the due dates.
(4) If the officer to whom the duties of the S.B. branch have been delegated notices any erasures or
alterations in Pay-in-Slip (SB-103) or applications for withdrawal (Form SB-7) or account closure form
(SB-7A), the List of Transactions (SB-60) or other suspicious circumstances attending a S.B.
transaction, these will be brought to the personal notice of the Postmaster who will report the matter at
once by name to the Divisional Head confidentially, unless he is under the direct control of the
Regional/Circle Office, after taking appropriate action at his level as laid down in the rules. He should
preserve all relevant records which may have a bearing on the case in his personal custody until they
are transferred to the investigating authorities.
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POST OFFICE SAVINGS CERTIFICATES-GENREL
The rules in this Chapter apply mutatis mutandis to :-
i. 5-Year Post Office Cash Certificate (Discontinued from 14.6.1947)
ii. 10-Year National Plan Certificates (Discontinued from 31.5.1957)
iii. 10-Year National Savings Certificates (1st Issue) (Discontinued from 14.3.1970)
iv. 12/7/5 Year National Saving
Certificates:-12 Year discontinued
from 31.5.1957
7 Year discontinued from 31.5.1957
5 Year discontinued from 30.6.1953
v. 12-Year National Plan Savings Certificates (Discontinued from 14.11.1962)
vi. 12-Year National Defence Certificates (Discontinued from 14.3.1970)
vii. 7-Year National Savings Certificates (II Issue) (Discontinued from 30.9.1988)
viii. 7-Year National Savings Certificates (III Issue) (Discontinued from 31.12.1980)
ix. 7-Year National Savings Certificates (IV Issue) (Discontinued from 30.4.1981)
x. 7-Year National Savings Certificates (V Issue) (Discontinued from 30.4.1981)
xi. 12-Year National Savings Annuity Certificates (Discontinued from 31.12.1980)
xii. 5-Year National Development Bonds (Discontinued from 30.4.1981)
xiii. Six Year National Savings Certificates (VI Issue) (Discontinued from 31.3.1989)
xiv. Six Year National Savings Certificates (VII Issue) (Discontinued from 31.3.1989)
xv. 10-Year Social Security Certificates (Discontinued from 31.8.1990)
xvi. 5-Year Indira Vikas Patras (Discontinued from 15.7.1999)
xvii. Kisan Vikas Patras (Discontinued from 1.12.2011) (re-started from 23.9.2014)
xviii. National Savings Certificates (VIII Issue)
xix. 10 -Years National Savings Certificates (IX-Issue) (Discontinued from 20.12.2015)
Note:- The certificates from (i) to (xix) have been discontinued.
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POST OFFICE SAVINGS BANK MANUAL
VOLUME – III
ACTS AND RULES OF SAVING SCHEMES
ISSUED UNDER THE AUTHORITY OF
DIRECTOR-GENERAL OF POSTS,
INDIA
AND
SECRETARY TO GOVERNMENT OF INDIA
DEPARTMENT OF POST
MINISTRY OF COMMUNICATIONS & INFORMATION TECHNOLOGY
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