Rules, Rights & Rites -70
I usually post all important items related to official rulings, union news, and other general matters on my YouTube channels: Yourskayveeyes (English) and Anbudan Kayveeyes (Tamil).
However, due to the recent spate of orders and the high volume of information being received, I have not been able to convert every item into a video. Therefore, I am introducing these new slots to post current matters and updates that have not yet been published on YouTube. This ensures you stay informed on every detail, even if a video hasn't been made yet …………….Kayveeyes
Freezing of Small Savings Schemes accounts:
• The document refers to SB Order No. 25/2022 dated 16-12-2022, which initially discussed the freezing of matured but unclosed Small Savings Schemes accounts using the INOP-freeze Code.
• As per the aforementioned SB Order, matured but unclosed accounts under schemes like MIS, SCSS, TD, KVP, NSC, RD, and PPF that have not been closed even after three years of maturity will be frozen.
• The specific freeze reason code for these accounts is 'INOP: inoperative more than 3 years'.
• To improve the security of depositors' hard-earned money, the freezing activity will now be conducted twice a year on a continuous cycle.
• The process of identification and freezing of such accounts will be completed within 15 days from the start of each cycle.
• This means accounts that complete three years of maturity as of 30th June and 31st December every year will be identified and frozen.
• The Standard Operating Procedure (SOP) for handling these frozen accounts, as detailed in SB Order 25/2022, remains in effect and must continue to be followed.
(DG (P) No. FS-13/7/2020-FS-Part (1) dated 15.7.2025)
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