30th June retirees case - Supreme Court passed comments- noncompliance costs as well as interest may be imposed.

 TEAMS DAILY BYTES - A.KESAVAN, ASST GENERAL SECRETARY 

SB ORDER 06 / 2024 dtd 27.08.2024 – Day-1

Introduction of closure of MIS Account, SCSS Account through

 DOP Internet Banking

1. Though there is a provision of opening of accounts through Internet banking  , the closure of MIS accounts and Closure of SCSS accounts, Extension of SCSS accounts were not available till the implementation of this SB Order.

2. The option for closure of MIS, SCSS accounts, Extension of SCSS accounts , was enabled as per the SB Order No. 20/2023 but the relevant patch was deployed after this SB order. 

3. These options are available under the “  General Services “  tab  of DOP Internet banking.

4. The step by step procedure for to be followed is summarized.

For closure of MIS or SCSS accounts.

Click on “ General services “ Tab

Click on “ Service Requests “

Select “ New Requests”  and Click on “ OK”

Click on “ Closure  / Pre Closure of MIS accounts” or “ Closure  / Pre Closure “

Select the MIS or SCSS account to be closed.

Select the SB account in which the closure proceeds to be credited.

Submit Online

Enter Remarks

Enter Transactions Password.

Submit.

For Extension of SCSS account.

Click on “ General services “ Tab

Click on “ Service Requests “

Select “ New Requests”  and Click on “ OK”

Click on “Extension of SCSS accounts” 

Select the SCSS account to be extended.

Click on the relevant check box

Submit Online . (  The details of the extended maturity, ROI and New Int will be displayed)

Enter Remarks

Enter Transactions Password.

Submit.

5. Now except the Opening and closure of POSB accounts, and SSA accounts  the internet banking facility will be available to the rest of the POSB Schemes. The opening and closure of all the POSB schemes will be available through internet banking.  

6. For MSSC only opening can be done through internet banking . The closure of MSSC accounts is not available as of now. 

7. The add on facility of internet banking may be informed to the POSB account holders and the facility may be enabled for the POSB account holders.