PA Exam Materials - Examination point of view - 19
PLEASE READ AND KEEP MEMORY THE FOLLOWING POINTS
READ FOR THE EXAMINATION PURPOSE
741. Any SAS/MPKBY/PPF agent cannot act as an agent or messenger of a depositor for the purpose of withdrawal from his/her saving bank account.
742 . No admissibility of 5% bonus on maturity amount of MIS accounts opened on or after 08.12.2007.
743. The amount of any repayment of deposit or loan together with interest if becomes Rs. 20,000/- or more, it can only be made by account payee cheque or account payee bank draft or by crediting into Savings Bank Account if standing at the same post office.
744. The reinvestment of matured certificates / deposits either in the same scheme or in any other schemes through the Post Office authorized Agents is admissible except in case of redeposit made in TD account.
745. NRIs cannot invest in any of the Small Savings Schemes and Power of Attorney cannot open any account in any of the Small Savings Schemes.
746 A blind/visually-impaired person can open and operate Savings, RD, MIS, TD, SCSS, PPF accounts and also purchase NSC VIIIth Issue or KVPs in his/her name by authorising a literate person.
747. NREGS account is not transferable. It cannot be converted into single or joint at a later stage. No minimum amount is required for opening of Workers wage account.
748. From 16.03.2009, the transferring Head Post offices will dispatch Advice of Transfer (AT) by Service Insured Post for Rs.100/- duly sealed instead of Service Registered Post.
749. The date of credit of cheque in case of RD/PPF account will be the date of Clearing.
750. Postmaster includes Sub-Postmaster, Branch Postmaster, Dy. Postmaster, A.P.M and SPMs in charge of SB Branch should not act as an agent or messenger of a depositor for the purpose of withdrawal from a saving bank account standing open in his office.
751. SB – 5 denotes Pass Book. For each Sub Post office, the Divisional Heads will fix the authorized stock of Pass Book.
752. SB 103 denotes Pay – in – slip. SB 7 denotes Voucher for Withdrawal. SB-7A denotes closure form. The SB 60 denotes LOT.
753. A person holding a power of attorney from the depositor is not permitted to withdraw money from the depositor's account in SB account.
754. If a warrant of payment is lost before its submission Memo of Admission of Payment will be issued.
755. The SB slips (SB 27 ) is used for the SB document sent by the HO to SO.
756. 10 years is the minimum age for opening a single saving account by a minor himself in his name.
757. Only one account can be opened on behalf of one minor by one guardian i.e either mother or father can be opened by a guardian on behalf of a minor.
758. Only once withdrawal can be made from a savings account standing at BO in a day. Any number of times withdrawal can be made from a savings account standing at SO/HO in a day.
759. A sum of Rs 500/- which is the minimum balance should remain in a savings account either with or without cheque account after withdrawal. There is no difference with cheque account or other account.
760. Nomination is compulsory savings account opened in the name of a minor by his guardian.
761. After three consecutive years without any transaction a saving account is treated as silent account. The amount annual interest added in a saving account may not be treated as transaction in that account
762. The office, where A/c Stands issue duplicate passbook of a saving accounts if the required fee is paid by the depositor. (Rs. 50 + GST)
763. The maximum amount of withdrawal that can be given by the BPM without the approval of Account office - Rs.20000
764. The final withdrawal in saving account made through SB 7A only. In joint B saving accounts at the time of transfer and closing all the account holder's signature is required.
765. Saving account of deceased depositor cannot be transferred from one post office to another post office.
766. 4 individuals persons can be nominated by the depositor of a savings account.
767. There is no maximum balance may be deposited to Single/ Joint account.
768. No maximum limit on saving bank accounts from 01 Oct 2011.
769. Minor after attaining majority has to apply for conversion of the account in his name
770. Minor account can be opened by a person under the law in force from time to time as guardian when father and mother both are not alive.
771. A blind or illiterate or physically handicapped adult may open or operate account personally; May operate account through a literate agent nominated by him for the purpose.
772. No subsequent deposit allowed less than Rs 10/- in saving account. No withdrawal is allowed less than Rs 50/- No withdrawal shall be permitted which has the effect reducing the balance to less than 500 in single account
773. No interest shall be allowed on an account for any month in which the balance at credit below five hund fred rupees at any time between the close of the tenth day and end of the month.
774. No interest shall be allowed on an account for any year in which the amount of interest for the year is less than one rupee.
775. In case death of the depositor interest in the account will be allowed till the end of the month preceding the month in which sanction for withdrawal of balance is issued.
776. For other SOL account the maximum amount of withdrawal is Rs.50000/-
777. Cheque collection charges: Rs 30/- for a cheque up to Rs 1000/- Rs 3/- per thousand beyond Rs 1000/-. No collection charges will be charged on outstation cheque of Post office saving bank drawn in post office saving bank.
778. When an account opened in contravention of rules, the account should be closed. The deposit made in the account refunded to the depositor without interest
779. A person can open any number of RD Accounts in one post office
780. Withdrawal will be allowed 50% deposited amount in RD account after one year and after 12 monthly deposit. No withdrawal is allowed in discontinued RD accounts. 7.8 % interest will be charged on loan amount. If the repayment with interest is made on or before the 10th of the month, no interest shall be payable for that month
PLEASE READ AND KEEP MEMORY THE FOLLOWING POINTS
READ FOR THE EXAMINATION PURPOSE
741. Any SAS/MPKBY/PPF agent cannot act as an agent or messenger of a depositor for the purpose of withdrawal from his/her saving bank account.
742 . No admissibility of 5% bonus on maturity amount of MIS accounts opened on or after 08.12.2007.
743. The amount of any repayment of deposit or loan together with interest if becomes Rs. 20,000/- or more, it can only be made by account payee cheque or account payee bank draft or by crediting into Savings Bank Account if standing at the same post office.
744. The reinvestment of matured certificates / deposits either in the same scheme or in any other schemes through the Post Office authorized Agents is admissible except in case of redeposit made in TD account.
745. NRIs cannot invest in any of the Small Savings Schemes and Power of Attorney cannot open any account in any of the Small Savings Schemes.
746 A blind/visually-impaired person can open and operate Savings, RD, MIS, TD, SCSS, PPF accounts and also purchase NSC VIIIth Issue or KVPs in his/her name by authorising a literate person.
747. NREGS account is not transferable. It cannot be converted into single or joint at a later stage. No minimum amount is required for opening of Workers wage account.
748. From 16.03.2009, the transferring Head Post offices will dispatch Advice of Transfer (AT) by Service Insured Post for Rs.100/- duly sealed instead of Service Registered Post.
749. The date of credit of cheque in case of RD/PPF account will be the date of Clearing.
750. Postmaster includes Sub-Postmaster, Branch Postmaster, Dy. Postmaster, A.P.M and SPMs in charge of SB Branch should not act as an agent or messenger of a depositor for the purpose of withdrawal from a saving bank account standing open in his office.
751. SB – 5 denotes Pass Book. For each Sub Post office, the Divisional Heads will fix the authorized stock of Pass Book.
752. SB 103 denotes Pay – in – slip. SB 7 denotes Voucher for Withdrawal. SB-7A denotes closure form. The SB 60 denotes LOT.
753. A person holding a power of attorney from the depositor is not permitted to withdraw money from the depositor's account in SB account.
754. If a warrant of payment is lost before its submission Memo of Admission of Payment will be issued.
755. The SB slips (SB 27 ) is used for the SB document sent by the HO to SO.
756. 10 years is the minimum age for opening a single saving account by a minor himself in his name.
757. Only one account can be opened on behalf of one minor by one guardian i.e either mother or father can be opened by a guardian on behalf of a minor.
758. Only once withdrawal can be made from a savings account standing at BO in a day. Any number of times withdrawal can be made from a savings account standing at SO/HO in a day.
759. A sum of Rs 500/- which is the minimum balance should remain in a savings account either with or without cheque account after withdrawal. There is no difference with cheque account or other account.
760. Nomination is compulsory savings account opened in the name of a minor by his guardian.
761. After three consecutive years without any transaction a saving account is treated as silent account. The amount annual interest added in a saving account may not be treated as transaction in that account
762. The office, where A/c Stands issue duplicate passbook of a saving accounts if the required fee is paid by the depositor. (Rs. 50 + GST)
763. The maximum amount of withdrawal that can be given by the BPM without the approval of Account office - Rs.20000
764. The final withdrawal in saving account made through SB 7A only. In joint B saving accounts at the time of transfer and closing all the account holder's signature is required.
765. Saving account of deceased depositor cannot be transferred from one post office to another post office.
766. 4 individuals persons can be nominated by the depositor of a savings account.
767. There is no maximum balance may be deposited to Single/ Joint account.
768. No maximum limit on saving bank accounts from 01 Oct 2011.
769. Minor after attaining majority has to apply for conversion of the account in his name
770. Minor account can be opened by a person under the law in force from time to time as guardian when father and mother both are not alive.
771. A blind or illiterate or physically handicapped adult may open or operate account personally; May operate account through a literate agent nominated by him for the purpose.
772. No subsequent deposit allowed less than Rs 10/- in saving account. No withdrawal is allowed less than Rs 50/- No withdrawal shall be permitted which has the effect reducing the balance to less than 500 in single account
773. No interest shall be allowed on an account for any month in which the balance at credit below five hund fred rupees at any time between the close of the tenth day and end of the month.
774. No interest shall be allowed on an account for any year in which the amount of interest for the year is less than one rupee.
775. In case death of the depositor interest in the account will be allowed till the end of the month preceding the month in which sanction for withdrawal of balance is issued.
776. For other SOL account the maximum amount of withdrawal is Rs.50000/-
777. Cheque collection charges: Rs 30/- for a cheque up to Rs 1000/- Rs 3/- per thousand beyond Rs 1000/-. No collection charges will be charged on outstation cheque of Post office saving bank drawn in post office saving bank.
778. When an account opened in contravention of rules, the account should be closed. The deposit made in the account refunded to the depositor without interest
779. A person can open any number of RD Accounts in one post office
780. Withdrawal will be allowed 50% deposited amount in RD account after one year and after 12 monthly deposit. No withdrawal is allowed in discontinued RD accounts. 7.8 % interest will be charged on loan amount. If the repayment with interest is made on or before the 10th of the month, no interest shall be payable for that month
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