SB Order 12/2022 - Incentive will be payable to GDS BPMs for opening of Time Deposit (TD) accounts irrespective of the location of Branch Post Offices

SB Order No. 12 / 2022. SB Order 12/2022. Incentive will be payable to GDS BPMs for opening of Time Deposit (TD) accounts irrespective of the location of Branch Post Offices i.e. whether in rural area or in urban area subject to the following conditions.

File No. 107-01/2020-SB

Government of India

Ministry of Communications

Department of Posts

(F.S. Division)

 

Dak Bhawan, New Delhi — 110001

Dated: 08.07.2022

 

 

Subject: Amendment to procedural rule in POSB (CBS) Manual / POSB Manual Volume — Regarding.

Reference: SB Order No. 21/2020 dated 21.06.2020.

 Download SB Order 12/2022 in PDF

North East Circle and Karnataka Circle have requested for clarification on areas of Non-Delivery Branch Post Offices to be covered for consideration of allowing incentive/commission to Branch Postmasters for opening of Time Deposit accounts in reference to SB Order No. 21/2020 dated 21.06.2020.

 

2. The matter has been examined and accordingly Note 4 under para (A) (1) of Appendix X in POSB (CBS) Manual (Corrected up to 31.12.2021) and Note 4 under para (1) of Appendix XII in POSB Manual Volume — I is amended as below.

 

Incentive will be payable to GDS BPMs(Branch Post Masters) for opening of Time Deposit (TD) accounts irrespective of the location of Branch Post Offices i.e. whether in rural area or in urban area subject to the following conditions.

Status of Branch Post Office - Condition

(a) If the GDS Branch Post Office is Delivery Office

Address of any one of the depositors falls within the delivery jurisdiction of the respective GDS Post Office

(b) If the GDS Branch Post Office Is a non-delivery office in account with delivery post office

Address of any one of the depositors falls within the delivery jurisdiction of the account office provided that the address does not fall within the delivery jurisdiction of any other Branch Post Office in account with the same account office

(c). If the GDS Branch Post Office is a non-delivery office in account with non-delivery post Office

 Address of any one of the depositors falls within the area covered by the pin code of the branch post office concerned provided that the address does not fall within the delivery jurisdiction of any other BO having the same pin code.

3. This may be circulated to all the Offices for information and necessary actions.

4. This is issued with the approval of competent authority.

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