Cash acceptance limit in GDS Branch Post
SB Order No. 03/2021
F.No.25-11/2016-FS-CBS
Government of India
Ministry of Communications
Department of Posts
(FS Division)
Dak Bhawan, Sansad Marg,
New Delhi-110001
Date: 05.03.2021
To,
All Head of Circles/Regions
Subject: Regarding revision of cash acceptance limit in GDS Branch Post Offices and cash transaction limit at other SOLs.
Sir / Madam,
The undersigned is directed to say that the issue of enhancement of the present limit of acceptance of cash at GDS Branch Post Offices and cash transaction limit in other SOLs accounts was under consideration in this Directorate. This limit was prescribed in para 18 and para 27 of SB Order No 05/2016 dated 21.06.2016.
The issue was examined in the context of the difficulties being faced by pensioners, depositors of SSA/PPF accounts, rural depositors and present status of automated accounting mechanism through GL Integration in Finacle.
Extension of MIS/ SCSS/ KVP/ NSC/ PPF schemes up to GDS Branch Post Office level through cheque
In the above context, the competent authority has decided to enhance the limit prescribed in para 18 and para 27 of SB Order No. 05/2016 dated 21.06.2016. Accordingly the text of para 18 and para 27 of SB Order 05/2016 dated 21.06.2016 is replaced as follows:
- i) Para-18: No BPM shall accept cash deposit transactions for more than Rs.50,000/- in an account in a day. Further, till the PPF/ SCSS/ MIS/ KVP/ NSC schemes are made available in RICT CBS App, deposit in these accounts is to be accepted by withdrawal form or cheque only.
- ii) Para-27: All POSB Cheques issued by any CBS Post Office if presented at any CBS Post Office shall be treated as AT PAR cheques and shall not be sent for clearing. No cash transaction for more than Rs. 50,000 shall be allowed at other SOLs in an account in a day.
It is requested that these changes may be brought to the notice of all post offices immediately for information, guidance, and necessary action.
This issues with the approval of competent authority.
Yours faithfully,
(Devendra Sharma)
Assistant Director (SB-II)
Related to Your Search:
- Extension of MIS/ SCSS/ KVP/ NSC/ PPF schemes up to GDS Branch Post Office level through cheque
- Mandatory use of Savings Account for credit of monthly/ quarterly/ yearly interest in case of MIS/ SCSS/ TD accounts
- Revision of Standard Inspection Questionnaire for Branch Post Office Loksabha
- Acceptance of withdrawal form along with SB passbook for subsequent deposit and opening of new accounts in GDS Branch post Offices
- Safety guidelines for investors of National Savings Schemes – DoP
- Change of procedure for generation of LOTs /Consolidation Journal and handling of vouchers for National Small Savings Schemes in CBS Post Offices from 10.10.2020
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- Post office bank IFSC code IPOS0000DOP
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