SB Order 03/2022- Latest POSB CBS Manual corrected up to December 2021

SB Order 03/2022- It is the third SB order for the year 2022. SB order no. 03/2022 is the circulation of POSB (CBS) Manual corrected up to 31.12.2021. Here you will find the updated Post Office Savings Bank Core banking Solution manual. Before it, the POSB CBS manual was circulated vide SB order 09/2018 dated 17.07.2018. It is the latest version of the POSB manual.

SB Order 03/2022

What is SB no. order 03/2022 

File No. 116-17/2017-SB
Govt. of India
Ministry of Communications
Department of Posts
(F.S. Division)

Dak Bhawan, New Delhi - 110001
Dated: 18.02.2022

AII Head of Circles / Regions

Subject: Circulation of POSB (CBS) Manual (Corrected up to 31.12.2021) - Reg.

Sir / Madam,

POSB (CBS) Manual for the operation of POSB Schemes in Core Banking Solution (CBS) platform was circulated vide issued vide SB Order No. 09/2018 dated 17.07.2018. Statutory rules relating to POSB viz. National Savings Schemes were amended by the Ministry of Finance in the years 2018 & 2019. Operation of all National Savings Schemes was extended to the Branch Post Offices in the year 2020 and various SB orders have been issued by the Department related to POSB operation. The POSB (CBS) Manual has accordingly been revised by the FS Division of Postal Directorate and the same is approved by Director General (Postal Services). This manual is released as POSB (CBS) Manual (Corrected up to 31.12.2021).

Some of the amendments incorporated in this version of the Manual are listed below for reference.
  • Contents of SB Orders issued after release of POSB (CBS) Manual, 2018, are incorporated.
  • In respect of Deposits and Withdrawals from the accounts standing in RICT CBS BOs, from any CBS Post Office, sending of intimation of transactions that happened in BO Accounts to the BOs concerned for updation in BO Journal has been discontinued.
  • Deposit in Savings Account through SB Money Orders from Field Post Offices has been deleted.
  • Closure of Accounts standing in BO through Cash payment is prescribed to be done only at Account Office.
  • A new provision for the issue of a certificate of payment/certificate of credit has been included to settle the discrepancies in the voucher due to the omission of vouchers on the part of the post office.
  • In case of memo of admission of payment, if the signature of the depositor or his agent, as the case may be, cannot be obtained, the case should be reported to the Head of the Circle for order and it was clarified that up to Rs. 500/-, Gazetted Postmaster or the Divisional Head may pass the orders personally. This has been modified that the case should be reported to Gazetted Postmaster or Divisional Head as the case may be, for passing final orders after necessary inquiries.
  • In case of Change of Name of Depositor, submission of Gazette Notification has been added and a new procedure for change of name of the minor depositor has been appended.
  • Furnishing of a report by Head of Circle to Directorate regarding verification of balances of accounts standing at branch offices the passbook of which are not received for interest posting has been deleted.
  • Submission of quarterly report to FS Division of Directorate by the HoC on verification of withdrawals of Rs. 10,000/- and above in Savings accounts at branch offices has been deleted.
  • The procedure of verification of balances of TD Accounts and other types of accounts has been modified. Sending of the list of SB-46 notices issued by the Inspecting Authorities for verification by the Account Office has been discontinued and proposed to be verified by the Inspecting Authorities themselves.
  • Procedure for transfer of SCSS Account from PO to Bank and vice versa has been added.
  • In all cases of the transfer of account from PO to Bank, the depositor should be requested to submit the account transfer application at the Bank only, as some of the bank branches may not operate National Savings Schemes.
  • Procedure for Issue of Passbook/Closure of Account for the accounts (RD & TD) opened in e-Banking and M-Banking has been included.
  • Contents of SAS/IVIPKBY Agency System are modified. Rules relating to the Change of MPKBY Agent are appended.
  • Procedure for ascertaining the solvency of sureties in case of the deceased claim settlement procedure has been added.
  • Provision for the issue of reconciliation certificate in case of difference in the name of the nominee has been included.
  • In respect of payment of a claim in settlement of deceased claims chapter, interest eligibility and payment options available to the claimants have been added.
  • The list of Countries under HAGUE APOSTILE CONVENTION has been updated.
  • Many clarifications which were already issued as well as fresh clarifications are included as 'Note' under various rules.
  • In Appendix - I (KYC/AML/CFT Norms), the documents to show as a source of receipt of funds tendered for investment are included.
  • The facility of dispatch of cheque-book to the depositor by post at the cost of Depositor on request has been added.
  • Following new chapters are added as Appendices- TDS Submission, Role of SBCO for CBS Post Offices, Handling of Cases for Relaxation in Rules, Interest Rates with effect from 01.04.1981, Specimen of important forms and registers.

3. Further, a table of concordance Linking the procedural rules in the POSB (CBS) Manual Version 2018 with the rules in the new version is appended, for easy reference.

4. The procedural rules in this version of the Manual should be followed by all the CBS Post Offices and RICT - CBS Branch Post Offices.

5. Softcopy of the Manual is uploaded in India Post Website and the same can be downloaded by all the Administrative and Operative Offices.

6. Circles should ensure that a soft copy of this version of the manual is available in all the systems in the post offices.

7. Circles are requested to take necessary action in this regard and this order may be circulated to all the Post Offices.

8. This is issued with the approval of DDG (FS).

Asst. Director (SB-I)

SB Order 03/2022 PDF download

Click here to download SB order 03 2022 PDF file.

Post a Comment