Withdrawal / Loan / Closure of Account / Certificate through Authorised Person
In case of extreme exigencies (i.e. Senior Citizens or illness of account holder or suffering from physical infirmity or is with differently-baled conditions) the withdrawal or loan or account closure or premature closure may be allowed through authorized person. The following procedure shall be followed.
(1). The account holder(s) shall write an application in Form-12 to the postmaster concerned, for operation of account viz. withdrawal / loan / closure or premature closure of account etc.
(2). In the application form (Form-12), the depositor shall authorize a literate person for operation of his/her account.
(3). Signature of the authorized person shall be attested by the account holder(s). In case of Joint B Account, any one of the account holder(s) can attest the signature of the authorized person.
(4). Authorized person shall not be an SAS/MPKBY agent or employee working in PO Savings Bank Branch in the post office concerned.
(5). The account holder shall fill the withdrawal form (SB-7) / closure form (SB-7A) / account premature closure form (SB-7B) / Application for Loan (SB-7C) as the case may be in his/her writing and signed.
(6). Self attested copy of ID and address proof of account holder(s) and authorized person shall also be enclosed. If any account holder(s) authorize a person for more than one transaction viz. withdrawal / loan / closure, on any day, in such case, only one set of KYC documents and photo may be obtained. However, Form-12 shall be obtained for each account.
(7). Authorized person shall submit passbook, authority letter (Form-12), withdrawal form (SB-7) / closure form (SB-7A) / account premature closure form (SB-7B) / Application for Loan (SB-7C) as the case may be and KYC documents of account holder and authorized person at concerned post office.
(8). The counter PA shall tally signature of account holder(s) available in withdrawal form (SB-7) / account closure form (SB-7A) / account premature closure form (SB-7B) / Application for Loan (SB-7C) and Form-12 with signature available in Finacle and SB-3/AOF.
(9). After tallying signature and documents, counter PA shall submit the case to Supervisor for approval.
(10). Supervisor shall also check and verify documents as well as signature of the account holder(s) with office record and if he/she is satisfied, he/she shall write order on top of the application as “authorization accepted” and sign.
(11). In case the postmaster is not satisfied about the genuineness of the request of the account holder, he/she may depute a responsible official to physically verify the request of account holder for withdrawal or loan or closure or premature closure of his/her account before effecting payment.
(12). Thereafter, Counter PA/Supervisor shall follow the process for withdrawal/Loan/Account closure/Account premature closure, as the case may be, as prescribed in the relevant rules.
(13). The payment shall be made by account payee cheque or credit into PO Savings Account or Bank Account of the account holder(s). No cash payment, irrespective of amount, shall be given to the authorized person except in case of withdrawal from Savings Account.
(14).
Signature of authorized person should be taken in acquaintance part of
Withdrawal form (SB-7) / account closure form (SB-7A)/Account premature
closure form (SB-7B) /Application for Loan (SB-7C). After closure of
account, account payee cheque or ECS outward receipt, passbook shall be
handed over to the authorized person.
(15). The authority letter (Form-12) along with KYC documents, are to be attached with the voucher and submitted to SBCO.
(16).
SBCO branch shall check that no cash payment is made in cases of
accounts closed by authorized persons irrespective of amount and all
documents are in order.
Note: For submission of
authorization letter in Form-12, physical presence of the account
holder(s) is not mandatory. It can be accepted from the authorized
person also.
Source : POSB CBS Manual corrected upto 31.12.2021, Page 66
FORM 12 RULE 11 OF GSPR 2018 || FORM FOR AUTHORIZED PERSON - SB ORDER 23/2021
FORM -12
(See Rule 11of Government Savings Promotion Rules, 2018)
Letter of authority to open or operate an account under National Savings Schemes on behalf of depositor suffering from physical infirmity including blindness
To
The Postmaster/Manager
……………………….
Sir
I/we
______________ depositor of account number __________ under __________
(Name of scheme) hereby authorize Sh./Smt./ Ms. __________ w/o, s/o, d/o
__________ in whom I confide and whose photograph and signature are
attested below to operate the said account for the following purposes.
1.
2.
3.
4.
Specimen signature of authorized person
1.
2.
3.
Signature of Witness
Signature or thumb impression of Depositors
(Thumb impression should be attested by a person known to the Post Office}.
Name & Address:
Date :