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Oct 6, 2015

Mandatory use/opening of Savings Account in CBS Post Offices - S B Order No. 12 / 2015


Please find attached the SB Order No. 12/2015 regarding mandatory use/opening of Saving Accounts in CBS Post Offices for maintaining/development of relationship of customers with Post Office Saving Bank (POSB).  From 15.10.2015, Opening of Savings Account by all the existing and new customers of POSB who do not have Savings Account in any CBS Post Office has been made mandatory.

 It is requested that all CBS Post Offices users particularly Counter PAs may be instructed to show the attached benefits/facilities which a Savings Account in a CBS Post Office provides and ask them to use/open Post Office Savings Account for the following activities:-

 1. Credit of all maturity/premature/death claim values where amount is Rs.20,000/- or above.

2. Credit of Monthly/Quarterly/Yearly Interest in r/o MIS/SCSS/TD.

3. Any investment through another Bank Cheque.

4. Any subsequent deposit in RD/PPF/SSA through cheque

5. Updation of KYC in CIF.

6. Getting Free SMS Alerts for many Financial Transactions/Non Financial modifications.

7. Get Free ATM cum Debit Card.

   It is requested to start drive for getting KYC and Mobile Numbers of all Savings Account Holders (old or new) updated in the Finacle Data Base so that customers can get SMS Alerts.
 
Please also start drive of de-duplication of customers and merge multiple CIFs created during migration so that customer may have view of all his/her accounts under one CIF through Internet Banking.

 All these may also be included in the Training Material of End Users being provided in WCTCs.

 With regards,

Sachin Kishore
Director (CBS)
Sansad Marg,
Dak Bhavan

 
 

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