The Postal Department has been a big relief for senior citizens. Considering the age and variety of diseases of senior citizens, the Postal Department has announced the launch of an account operation and withdrawal facility through an authorized person. According to a circular issued by the Postal Department, the official is allowed to manage accounts opened at the post office, closing debts and closing premature accounts. It is important to note that there has never been such a system.
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Under this system, senior citizens are also required to visit the post office for account transactions, account closures, premature withdrawals, etc. The change was announced in a circular issued by the Postal Department on August 4. The Postal Department says that due to age and various diseases, they are unable to come to the post office, receiving applications from senior citizens. In such a situation, any person, including the withdrawal of money, should be given the power to complete the work. In keeping with this, the Postal Department has made changes to the Regulation 11 of the General Savings General Rules-2018 Rule 11 in collaboration with the Ministry of Finance.
Vision process
A person authorized by a senior citizen should be able to do business in a post office account, take out a loan, close an account or close the account prematurely. However, to empower a person, there are certain procedures that senior citizens must follow.
- Step 1: For this, the account holder must first fill out the SB-12 form. This form is available at any post office branch. With this entry, the account holder allows withdrawals, loans, closures or premature payments from his account. If the account is a joint venture, the authorized person has to verify the signature.
- Second Step: The account holder has to fill the correct form. For example, you need to fill out Form SB-7 to withdraw cash and Form SB-7B to close the account. The account holder needs to provide a self-verified photo ID and address proof and the person authorized. The SB-12 form must be filled in for each transaction.
- Step Three: The authorized person has to submit the passbook and this form. In addition, they must submit KYC documents with transaction form (SB-7 / SB-7B etc.)
- Step Four: After this, the official Post Office staff will have the signatures of the account holders available on their system. After that it is approved by the supervisors. Payment will be issued only after that.
Keep these things in mind
Payment is sent to a check / credit / post office savings account or bank account. To withdraw it into a savings account, the payment is made in cash only. You should also note that the authorized person is not an employee or agent of the post office branch.
