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    Ece 5733

    Uploaded by

    Narayana
    1) The document amends rule 13(2)(vi) of the POSB Manual Volume II regarding obtaining a solvency certificate from a surety for issuing duplicate savings certificates. 2) It replaces the previous requirement that the surety be adequately solvent with allowing a bank guarantee or assessing solvency through documents like salary certificates, income tax returns, or revenue authority certificates. 3) The amendment is intended to address difficulties faced by depositors in obtaining solvency certificates from sureties for duplicate savings certificates issued before January 1, 2016.

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    Ece 5733

    Uploaded by

    Narayana
    41 views2 pages
    1) The document amends rule 13(2)(vi) of the POSB Manual Volume II regarding obtaining a solvency certificate from a surety for issuing duplicate savings certificates. 2) It replaces the previous requirement that the surety be adequately solvent with allowing a bank guarantee or assessing solvency through documents like salary certificates, income tax returns, or revenue authority certificates. 3) The amendment is intended to address difficulties faced by depositors in obtaining solvency certificates from sureties for duplicate savings certificates issued before January 1, 2016.

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    ECE_5733

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    1) The document amends rule 13(2)(vi) of the POSB Manual Volume II regarding obtaining a solvency certificate from a surety for issuing duplicate savings certificates. 2) It replaces the previous requirement that the surety be adequately solvent with allowing a bank guarantee or assessing solvency through documents like salary certificates, income tax returns, or revenue authority certificates. 3) The amendment is intended to address difficulties faced by depositors in obtaining solvency certificates from sureties for duplicate savings certificates issued before January 1, 2016.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    41 views2 pages

    Ece 5733

    Uploaded by

    Narayana
    1) The document amends rule 13(2)(vi) of the POSB Manual Volume II regarding obtaining a solvency certificate from a surety for issuing duplicate savings certificates. 2) It replaces the previous requirement that the surety be adequately solvent with allowing a bank guarantee or assessing solvency through documents like salary certificates, income tax returns, or revenue authority certificates. 3) The amendment is intended to address difficulties faced by depositors in obtaining solvency certificates from sureties for duplicate savings certificates issued before January 1, 2016.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    of 2

    SB Order No.

    2212021
    F. No. FS-61/5/2020-FS
    Government of lndia
    Ministry of Communications
    Department of Posts
    (F.S. Division)
    Dak Bhawan, New Delhi-110001
    Dated,- 22 10712021
    To.
    All Head of Circles/Regions

    Subiect:- Amendment in rule ,13(2)(vi) of POSB Manual Volume lI .regarding.

    Sir/Madam.

    This office is receiving various representations from the depositors that they are facing
    difficulties in obtaining solvency certificate of surety for issuance of duplicate certificates
    (KVP/NSC) in respect of savings certificate issued before 0l .0'1 .2016.

    2. Keeping in view ofdifficulties being faced by the depositors, the competent authority
    has decided to amend rule a3(2) (vi) of POSB Manual Volume II as detailed below.

    3.
    Rule a3 (2) (vi) of POSB Manual Volume II: - This sub rule should be replaced
    with below text:-

    a) The surety is adequately solvent or ifa bank guarantee is fumished, the guarantee is in
    order

    b) If the indemnity bond accepting authority is not satisfied with the solvency of the
    surety, solvency may be asceftained through any ofthe following documents: -

    i) if he is an employee of the Central or State Government or of a local bod;-


    Government aided educational Institution. Reserve Bank of lndia, a public sector undertaking or
    any other body controlled by the Covermnent. to the extent of his salary lbr l2 months excluding
    allouances. as certilicd bv the employer.

    ii) On the basis of annual income mentioned in Income Tax Return (11'R) of last
    financial year of the surety.

    iii) On the basis on previous year's Annual lncome Cefiificate, certified by the employer
    of thc surety.

    iv) Solvency' certiflcate issued tiom the revenue authority having jurisdiction over the
    cstate of the surety.

    4. It is requested to circulate these amendments to all concerned for information.


    gu idance and rlecessar) action.

    5. This issues with the approval of Competent Authority


    Your's Faithfullv.
    ?aa^-C...
    ro.,.ffi.ffiJJ#"J',
    Assistant Director (SB-II)
    Copy to:-
    1. Sr. PPS to Secretary (Posts)

    2. PS to Director General (Postal Services).

    3. pPS/ PS to Addl. DG (co-or<iinarion)/Member (Banking)/ Member (o)/ Member (P)/ Member


    (Planning & HRD)/Member (PLl)iMember (Tech)/AS & FA

    4. Addl. Director General, APS, New Delhi

    5. Chief General Manager, BD Directorate / Parcel Directorate / PLI Directorate

    6. Sr. Deputy Direcror General (Vigilance) & cvo) / Sr. Deputy Director General (PAF)

    7. Director, RAKNPA / GM, CEPT / Directors of all PTCs

    8. Director General P & T (Audit), Civil Lines, New Delhi

    9. Secretary, Postal Services Board/ All Deputy Directors General.

    10. All General Managers (Finance) / Directors Postal Accounts / DDAP

    1 1 . Chief Engineer (Civil), Postal Directorate

    12. All Sections of Postal Directorate

    13. AII recognized Federations / Unions/ Associations

    14. GM. CEPT for uploading the order on the India Post website.

    15.MOF (DEA), NS-ll, North Block, New Delhi.

    16. Joint Director & I,IOD, ICCW Building, 4 Deendayal Upadhyay Marg, New Delhi-110002

    17. Guard File

    18. Spare copies.

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