PA Exam Materials - Examination point of view - 20
PLEASE READ AND KEEP MEMORY THE FOLLOWING POINTS
READ FOR THE EXAMINATION PURPOSE
781. If there are more than four monthly defaults, the account shall be treated as discontinued. Revival of the account shall be permitted only within a period of two months from the month of fifth default. Discontinued account can be closed after three years
782. Protected saving scheme is admissible in 100 denomination of RD accounts
783. Protected saving scheme: Twenty four months have been elapsed from the date of opening the account and during the said period all the month instalments have been paid into the account without any default and there has been no withdrawal from the account during the period. The age of the depositor or depositors as the case may be, at the time of opening the account was not less than 18 years and not more than 55 years. The legal heir/nominee of the deceased depositor has not made any claim or has not already been given the benefit in respect of any other account under the scheme. The claim applied for within one year of the death of the depositor.
784. Post maturity interest on RD account after extended maturity period shall be paid up to no limit (from 01-01-12).
785. A person can open any number of TD Accounts in one post office.
786. There is no maximum limit of deposit in TD accounts of any type. No subsequent withdrawal allowed in TD accounts before date of maturity. The investment under 5 years TD qualifies for the benefit of Section 80C of the Income tax Act 1961 from 01-04-2007.
787. The amount of maturity inclusive of interest if becomes Rs 20000/- or above shall be paid by either by crossed cheque or by Credit into saving accounts.
788. Pledging of TD account as security in the name of the president of India or Governor of the state in his official capacity or the reserve bank of India or a scheduled bank or a co-operative society.
789. Extension of TD account is given only twice.
790. Minimum limit in opening of MIS account Rs1000/- and in multiple of Rs1000/-.
791. Maximum limit of deposit in MIS account in single and joint is 4.5 lac and 9 lakhs.
792. No withdrawal will be allowed in MIS account the before expiry if maturity period 5 years; No bonus shall be payable.
793. The MIS account can be closed after expiry of one year. The MIS account closed after one year but before three years 2 % deduction will be made on initial deposit. The MIS account closed after expiry of three years 1% deduction will be made on the initial deposit.
794. In case of death of the depositor before maturity account in the MIS account may be closed and deposit refunded along with interest up to the month preceding the month in which refund made.
795. In case death of the one depositor of joint account holder, in the MIS account the account will be treated as single from the date of death of the account holder. The surviving depositor can withdraw the excess amount over and above the maximum limit of investment by single depositor. If this amount is not withdrawn, the excess amount will carry the normal saving bank interest.
796. Present rate of Senior citizens saving scheme account is 7.4% payable quarterly.
797. The Minimum and maximum deposit in Senior citizen saving scheme is 1000 & 15 Lakhs.
798. Senior citizens saving scheme: An individual of the Age 60 years or more may open the account. An individual of the age of 55 years or more but less than 60 years who has retired on superannuation or under VRS can also open account within the one month of receipt the retirement benefits and not exceed the amount of retirement benefits. The maturity period is 5 years.
799. A depositor may operate a senior citizen account more than one account in individual capacity or jointly with spouse.
800. Joint account in Senior Citizen accounts can be opened with Spouse only.
801. No subsequent withdrawal is allowed in SCSS account before expiry of 5 years. Premature closure is permitted at any time . A deduction will be made 1.5% of the deposit in case account close before expiry of 2 year and 1% after expiry of 2 years.
802. Cancellation or change in the nomination: Rs. 50 + GST will be charged
803. After maturity, the senior citizen account will be extended further 3 year. The account continued after maturity; the deposit shall earn interest at the rate applicable to the new account opened. In case the account not extended on maturity and closed at any time the saving bank interest applicable. There is no maximum time limit for PMI.
804. No TDS will be deducted if the amount of interest paid in a financial year does not exceed Rs50000/-
805. PPF account can be opened by an individual adult can on his own name and an individual on behalf of minor.
806. The minimum and maximum limit to deposit in PPF account 500 and 150000 in a Finanicial year.
807. Only one PPF account can be opened in Post office or SBI or any financial nationalized banks. The account can be transferred from one PO to another and PO to State bank or nationalized bank vice versa.
808. The PPF account can be extended after maturity up to further block five year.
809. The PPF account cannot be attached any order or decree of court. It is totally exempted from income tax. In the event of the death of the depositor, the amount standing to his credit can be repaid to his nominee or legal heir even before expiry or 15 year.
810. PPF account: In the death of the depositor nominee can continue the account
Gist of rules in volume VII - Examination point of view
811. Each set of a sorting office is divided into four departments (1) Departments of a set of a sorting mail office: (Rule 1)
812. DBO stands for District bag office.
813. The sorting assistant who is attending to regn dept of mail office is called RSA.
814. Daily report of MBC/Sections are received by Sr/Superintendent of RMS.
815. For the purpose of bag account PO is a Unit Bag Office.
816. Memo of authorized Bag balance is issued by Sr/Supdt of PO/RMS officesandDiagram of a sorting case is prepared by SRM.5
817. A mail office may redirect any article or intercept or deliver any article to the addressee On the authority of the DG or Head of the Circle. (Rule 4).
818. Except on the authority of the DG posts/Head of the circle, a set may not sort any article. (R-4- VOI VII)
819. Except on the authority of the DG posts/Head of the circle, a set may not re-close any bag . (R-4- VOI VII) 4
820. Information from RMS records asked for by any Govt officer be given with the specific orders of the Head of the circle. (Rule 5).4
PLEASE READ AND KEEP MEMORY THE FOLLOWING POINTS
READ FOR THE EXAMINATION PURPOSE
781. If there are more than four monthly defaults, the account shall be treated as discontinued. Revival of the account shall be permitted only within a period of two months from the month of fifth default. Discontinued account can be closed after three years
782. Protected saving scheme is admissible in 100 denomination of RD accounts
783. Protected saving scheme: Twenty four months have been elapsed from the date of opening the account and during the said period all the month instalments have been paid into the account without any default and there has been no withdrawal from the account during the period. The age of the depositor or depositors as the case may be, at the time of opening the account was not less than 18 years and not more than 55 years. The legal heir/nominee of the deceased depositor has not made any claim or has not already been given the benefit in respect of any other account under the scheme. The claim applied for within one year of the death of the depositor.
784. Post maturity interest on RD account after extended maturity period shall be paid up to no limit (from 01-01-12).
785. A person can open any number of TD Accounts in one post office.
786. There is no maximum limit of deposit in TD accounts of any type. No subsequent withdrawal allowed in TD accounts before date of maturity. The investment under 5 years TD qualifies for the benefit of Section 80C of the Income tax Act 1961 from 01-04-2007.
787. The amount of maturity inclusive of interest if becomes Rs 20000/- or above shall be paid by either by crossed cheque or by Credit into saving accounts.
788. Pledging of TD account as security in the name of the president of India or Governor of the state in his official capacity or the reserve bank of India or a scheduled bank or a co-operative society.
789. Extension of TD account is given only twice.
790. Minimum limit in opening of MIS account Rs1000/- and in multiple of Rs1000/-.
791. Maximum limit of deposit in MIS account in single and joint is 4.5 lac and 9 lakhs.
792. No withdrawal will be allowed in MIS account the before expiry if maturity period 5 years; No bonus shall be payable.
793. The MIS account can be closed after expiry of one year. The MIS account closed after one year but before three years 2 % deduction will be made on initial deposit. The MIS account closed after expiry of three years 1% deduction will be made on the initial deposit.
794. In case of death of the depositor before maturity account in the MIS account may be closed and deposit refunded along with interest up to the month preceding the month in which refund made.
795. In case death of the one depositor of joint account holder, in the MIS account the account will be treated as single from the date of death of the account holder. The surviving depositor can withdraw the excess amount over and above the maximum limit of investment by single depositor. If this amount is not withdrawn, the excess amount will carry the normal saving bank interest.
796. Present rate of Senior citizens saving scheme account is 7.4% payable quarterly.
797. The Minimum and maximum deposit in Senior citizen saving scheme is 1000 & 15 Lakhs.
798. Senior citizens saving scheme: An individual of the Age 60 years or more may open the account. An individual of the age of 55 years or more but less than 60 years who has retired on superannuation or under VRS can also open account within the one month of receipt the retirement benefits and not exceed the amount of retirement benefits. The maturity period is 5 years.
799. A depositor may operate a senior citizen account more than one account in individual capacity or jointly with spouse.
800. Joint account in Senior Citizen accounts can be opened with Spouse only.
801. No subsequent withdrawal is allowed in SCSS account before expiry of 5 years. Premature closure is permitted at any time . A deduction will be made 1.5% of the deposit in case account close before expiry of 2 year and 1% after expiry of 2 years.
802. Cancellation or change in the nomination: Rs. 50 + GST will be charged
803. After maturity, the senior citizen account will be extended further 3 year. The account continued after maturity; the deposit shall earn interest at the rate applicable to the new account opened. In case the account not extended on maturity and closed at any time the saving bank interest applicable. There is no maximum time limit for PMI.
804. No TDS will be deducted if the amount of interest paid in a financial year does not exceed Rs50000/-
805. PPF account can be opened by an individual adult can on his own name and an individual on behalf of minor.
806. The minimum and maximum limit to deposit in PPF account 500 and 150000 in a Finanicial year.
807. Only one PPF account can be opened in Post office or SBI or any financial nationalized banks. The account can be transferred from one PO to another and PO to State bank or nationalized bank vice versa.
808. The PPF account can be extended after maturity up to further block five year.
809. The PPF account cannot be attached any order or decree of court. It is totally exempted from income tax. In the event of the death of the depositor, the amount standing to his credit can be repaid to his nominee or legal heir even before expiry or 15 year.
810. PPF account: In the death of the depositor nominee can continue the account
Gist of rules in volume VII - Examination point of view
811. Each set of a sorting office is divided into four departments (1) Departments of a set of a sorting mail office: (Rule 1)
812. DBO stands for District bag office.
813. The sorting assistant who is attending to regn dept of mail office is called RSA.
814. Daily report of MBC/Sections are received by Sr/Superintendent of RMS.
815. For the purpose of bag account PO is a Unit Bag Office.
816. Memo of authorized Bag balance is issued by Sr/Supdt of PO/RMS officesandDiagram of a sorting case is prepared by SRM.5
817. A mail office may redirect any article or intercept or deliver any article to the addressee On the authority of the DG or Head of the Circle. (Rule 4).
818. Except on the authority of the DG posts/Head of the circle, a set may not sort any article. (R-4- VOI VII)
819. Except on the authority of the DG posts/Head of the circle, a set may not re-close any bag . (R-4- VOI VII) 4
820. Information from RMS records asked for by any Govt officer be given with the specific orders of the Head of the circle. (Rule 5).4
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