RESTRICTION ON OPENING OF MORE THAN ONE ACCOUNT IN THE SAME SCHEME IN THE NAME OF SAME DEPOSITOR OR ACCEPTANCE OF MORE THAN ONE PURCHASE APPLICATION OF THE SAME SCHEME IN THE NAME OF SAME DEPOSITOR IN ONE POST OFFICE ON A SINGLE DAY- A FURTHER CLARIFICATION.
D.G. Posts No. 116-35/2009-SB dated 05.08.2011 (S.B. Order No. 14/2011)
The undersigned is directed to refer to this office letter of even number dated 30.06.2011 (S.B. Order No. 11/2011) on the subject and to say that this order was issued on receipt of complaints in this office as well as Min. of Finance (DEA) regarding deliberate splitting of amount to increase number of accounts. On receipt of various representations the matter has been re-examined and it has been decided to withdraw the restrictions. However, it is requested that deliberate splitting of cash at the time of opening of account/purchase of certificate may be avoided.
2. This issue with the approval of DDG (FS)
--
M.Krishnan
Secretary General NFPE
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