Change in limit for accepting POSB Cheques for deposit in SB/PPF/SSA/RD accounts.
F.No. 25-11/2016-FS-CBS
Government of India
Ministry of Communication
Department of Posts
(F.S. Division)
Dak Bhawan, New Delhi-110001
Dated 02/12/2019
To,
All Head of Circles.
Addl. Director General. APS, New Delhi
Subject :Change in limit for accepting POSB Cheques for deposit in SB/PPF/SSA/RD accounts.
Sir/Madam,
Various representations were received in Directorate to reconsider the
limit Rs. 25000/- prescribed for accepting POSB Cheques at other SOLs in
a day in an account. After examining the issue the competent authority
has decided to rationalize the process for accepting the POSB cheque in
other SOLS.
Presently the SB Order 5/2016 para 271 and POSB (CBS) Manual Appendix I
(para 2012) and Appendix III (para 102) prescribe as under
"All POSB Cheques issued by any CBS Post Office if presented at any CBS
Post Office should be treated as AT PAR cheques and should not be sent
for clearing No POSB Cheque for more than Rs.25000/- should be accepted
at other SOLS in a day."
Now, after the rationalization, the text of the SB Order 5/2016 Para 27]
and POSB (CBS) Manual Appendix I Para 20(12)] and Appendix III Para
10(2) are substituted as under
"All POSB Cheques issued by any CBS Post Office, if presented at any CBS
Post Office should be treated as AT PAR cheques and should not be sent
for clearing.
No POSB Cheque for more than Rs.25000/- should be accepted for cash
withdrawal at other SOLs in a day. However, POSB cheque can be accepted
at other SOLs without restriction of amount for credit in
POSB/RD/PPF/SSA accounts, subject to the limits, if any, prescribed in
the scheme."
Note: Necessary validations in CXFER,CPDTM, HTM menus stands deployed in Finacle.
This issues with the approval of competent authority.
(Devendra Sharma)
Assistant director (SBPG)