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
Dak
Bhawan, 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,
