SB Order No 10/2021 Regarding request from various agents/agent associations to allow investment through withdrawal form (SB-7) under SAS / MPKBY Agency System. - Postalstudy | Post Office Blog | Materials for | Exams

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SB Order No 10/2021 Regarding request from various agents/agent associations to allow investment through withdrawal form (SB-7) under SAS / MPKBY Agency System.



SB Order No. 10/2021


 

DaBhawan,  New Delhi-110001

Dated: 15.06.2021.

To,

All Head of Circles/Regions,

 

Sub: - Regarding request from various agents/agent associations to allow investment through withdrawal form (SB-7) under SAS / MPKBY Agency System.

 

Sir / Madam,

 

This office is in receipt of representations from agents/agent associations to allow investment th rough withdrawal form (SB-7) under SAS / MPKBY Agency System in various National Savings Schemes (i.e. RD/MIS/TD/KVP/NSC).

 

2.    As there is no such provision available in SAS Agency  Rules 1959 / MPKBY Agency Rules 1972, the issue was taken u p with Ministry of Finance for consideration.

 

3.         After examination, vide O.M. No. 14/1/2021-NS dated 19.02.2021 Ministry of Finance has decided to reject the proposal on the grounds of safeguarding the money of investor and avoiding anv irregularities/frauds in the investment.

 

4.     In view of above,  any  post  office  shall  not  allow  investment th rough withdrawal form (SB-7) under SAS / MPKBY Agency System in different National Savings Schemes.

 

5.   It is requested to circulate these guidelines to all post offices for information, guidance and necessary action.

 

This is issued with approval of the competent authority.

 

Yours Sincerely,

 






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