SB ORDER NO.
01/2011
No.32-1/2011-SB
Government of
India
Ministry of
Communications & IT
Department of
Posts
Dak Bhawan, Sansad
Marg,
New Delhi-110001,
Dated: 08.02.2011
To
All Heads of
Circles/Regions
Addl. Director General,
APS, New Delhi.
Subject :
Use of prescribed Account Opening Form (Form'A') while opening
PPF accounts to avoid
irregular opening of Joint accounts in PPF.
The undersigned is directed to say that this office is receiving large number of cases from circles /
regions for regularization of irregularly opened Joint PPF accounts by converting into single accounts. As Department has no power to relax any statutory rule,
all such cases are being referred to Min. of Finance (DEA) for
regularization.
2. Min. of
Finance (DEA) while examining such cases has observed that Post Offices are
using SB-3 for opening of PPF accounts which is meant for opening of
SB/RD/TD/MIS accounts and this is resulting in opening of Joint PPF accounts as
the form has provision for opening of joint accounts. Ministry has pointed out that PPF Scheme provides for 'FORM-
‘A' as account opening form and if this form is used for opening of PPF
account, there are less chances that a Joint PPF account could be opened.
3. It is
therefore requested to ensure that all post offices operating PPF scheme should
use Form-A for opening of PPF account and no Joint PPF account is opened. Availability of this Prescribed form in Post Offices operating PPF scheme may
also kindly be ensured.
This may kindly brought
to the notice of all post offices operating PPF scheme.
This issues with the
approval of DDG(FS).
Yours
faithfully,
(Kawal Jit
Singh)
Assistant
Director (SB)