MCQs On POSB Deceased Claim Sanction Limits | Approver limits of proposals & settlement of claims in respect of PLI & RPLI | Line Limits for Conveyance of Cash | Brief Notes on Death Claim Sanction Limits where No Nomination Exists
Deceased Claim Sanction Limits in National Small Savings Schemes where No nomination Exists or No Legal Evidence is Available
|
Name of the Authority |
Existing Limit in Rs |
Revised Limit in Rs |
|
Sub Postmaster
of Time Scale Departmental SOs/Sub Postmasters of Lower Selection Grade Post
Offices |
10,000 |
50,000 |
|
Sub
Postmasters/Deputy Chief Postmasters/Postmasters of Higher Selection Grade
(all Non Gazetted) SOs and HPOs |
25,000 |
1,00,000 |
|
Senior
Postmasters/Deputy Chief Postmasters/Superintendent of Post Offices/Deputy
Superintendent of Post Offices.(All Gazetted Group B HPOs and Divisions) Chief
Postmasters in GPO/Head Offices, Senior Superintendent of Post Offices (All
Gazetted Group A HPOs and Divisions) & equivalent authorities in GPOs |
2,50,000 |
5,00,000 |
|
Director
HQ/Regional Directors/Director (GPO) (In
Mumbai,Kokata & New Delhi) |
5,00,000 |
Not Required |
|
To ascertain
limit for sanction of claim the status of the Post Office/Office should be
taken into Account |
||
|
If the eligible amount in a deceased amount is above Rs 5 lakh where no nomination or legal evidence available the amount shall be paid to the claimant on submission of ‘Succession Certificate’ issued by the Court |
||
Approver limits of proposals & settlement of claims in respect of PLI & RPLI
|
New proposals, revival, surrender, forced surrender, maturity, survival, deathclaims (except early death claims) - PLI & RPLI |
|
|
Approving
Authority/Approver |
Revised
approver limit (for single or aggregate
sum assured) |
|
Postmaster
(HSG I/HSG II), Sr.
Postmaster(Gr B), Dy.
Chief Postmaster (Gr B), A.D.
of HO (Gr B) headed by Director |
Upto and equal to Rs. 20 lakhs |
|
Head
of Division (Gr B/ Gr A), Chief
Postmaster (Gr A), Dy.
Director of HO (Gr A) headed by a Director |
Greater
than Rs. 20 Lakhs and upto and equal to Rs. 50 Lakhs |
|
Early
death claim (Death within 3 years of acceptance of policy) – PLI & RPLI |
|
|
Director
GPO (JAG), Director(HQ)/Regional
DPS(JAG) |
All
Cases (irrespective of Sum Assured) |
Second or subsequent loan not exceeding the amount
as prescribed in POLI Rules will now be granted by Postmaster/Manager of CPC
instead of Postmaster General subject to the condition of full repayment of the
previous loan, if any.
In case of reopening of claim cases (for example, in case of court case etc), the authority competent to approve claims may re-open the claim but would submit it to the next higher authority for decision.
The following non-financial/financial service
requests will continue to be approved by Postmaster/ Manager of Central
Processing Centre (GPO/ Head Office) concerned:
(a) Address change
(b) Agent change
(c) Billing frequency change
(d) Billing Method change
(e) Commutation
(f) Conversion
(g) Duplicate Policy Bond
(h) Name change
(i) Refund of premium/loan interest or principal
(i) Reduced Paid-up
(k) Free Look / policy cancellation.
(1) Authorization of medical examiner for examine
PLI and RPLI proponent
The revised approver limits will be effective from 25th of August, 2020
Line
Limits for Conveyance of Cash
|
Carried By |
Cash Limits |
|
Account
bag handed over to carrier in weighment system/road transport |
Rs. 40,000/- |
|
Cash
through Branch Postmaster /Assistant Branch Postmaster or
Dak Sewak |
Rs.
1 lakh |
|
Cash
through BPM IABPM or Dak Sewak accompanied by another
BPM IABPM or Dak Sewak |
Rs. 2 lakh |
|
RMS
section/Railways by TVP through cash bag enclosed in account bag |
Rs.
2 lakh |
|
Hired
MMS with Multi-Tasking Staff ((MTS) in addition to driver for conveyance of
cash in cash bags enclosed in account bag outside city limits |
Rs. 2 lakh |
|
Loose
cash through departmental employee |
Rs.
5 lakh. |
|
Hired
MMS with Multi-Tasking Staff ((MTS) in addition to driver for conveyance of
cash in cash bags enclosed in account bag within city limits |
Rs. 5 lakh |
|
Cash
through departmental employee accompanied by another departmental employee |
Rs.
10 lakh |
|
Departmental
MMS with Multi-Tasking Staff ((MTS) in addition to driver for conveyance of
cash in cash bags enclosed in account bag |
Rs. 20 lakh |
|
Under
armed escort |
No
limit |
Aggregate Amount Given To Postman
|
Category of Staff |
Aggregate amount to be entrusted for
payment of money order, COD, V.P., Banking and other transactions of IPPB and any other activity
decided by the Heads of Circle which will be exercised in consultation with
Circle IFA. |
||||
|
|
Normal
(Rs) |
Power
of Divisional Heads |
Powers
of Heads of Circles |
||
|
|
Rural |
Urban |
Rural |
Urban |
|
|
Postman
and Multi-Tasking Staff
(MTS) official doing delivery
work |
30,000 |
40,000 |
40,000
(Power subject to prior consultation with police) |
80,000
(Power subject to prior consultation with police) |
Unlimited
power (subject to prior consultation with police) |
|
Village
Postman |
15,000 |
15,000 |
25,000 |
25,000 |
As
Above |
|
BPM/ABPM/Dak
Sewaks |
15,000 |
15,000 |
25,000 |
25,000 |
As Above |
PLI/POSB/Cash Conveyance Limits
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