Acceptance of Cheque in Branch Post Offices for Account Opening and Subsequent Deposits: Deptt of Post
SB ORDER No. 22/2020
e.F.No. CB- 25/9/2020-FS
Govt. of India
Ministry of Communications
Department of Posts
(Financial Services Division)
Dak Bhawan, Sansad Marg,
New Delhi-110001, Dated: 18.06.2020
All Head of Circles/Regions.
Subject:- Acceptance of Cheque in Branch Post Offices for Account Opening and Subsequent Deposits- regarding.
Sir / Madam,
The references have been received in this office from time to time to provide facility for cheque acceptance in respect of New Account Opening (RD/TD/SSA) and Subsequent Deposits in SB/RD/SSA accounts in GDS Branch Post Offices. The matter has been examined in detail in the light of Rule 8, Rule 9 & Rule 10 in Appendix I of the POSB Manual Volume I and the competent authority has accordingly approved restoration of Cheque deposit facility in GDS Branch Post Offices for New Account Opening and for Subsequent Deposits irrespective of any amount limit.
2. However, the process for necessary modification in RICT CBS application may take time. So, in order to facilitate customers to make deposits through cheques at the GDS Branch Post Offices, the process of manual acceptance of cheques at GDS Branch Post Offices is prepared (Hindi & English) and enclosed for further necessary action till the provision is made available in DARPAN (RICT) CBS Application.
3. It is requested to circulate this SB Order to all concerned (including GDS Branch Post Offices) for information and necessary action. The same may also be placed on the notice boards of the Post Offices in public area.
4. This issues with the approval of the Competent Authority.
Enclosure: Annexure- SOP
Assistant Director (SB)
Standard Operating Procedure for Opening of New account (RD, TD, SSA) and Subsequent Deposits in (RD,SSA,Savings Account) in GDS Branch Post Offices through Bank Cheque
Presently, Extra Departmental Branch Post offices (GDS Branch Post Offices) are not allowed to accept cheques for New Account Opening for RD, TD and SSA / Subsequent deposits for SSA, RD and Savings Account. There is restriction of accepting cash transactions of above Rs.25000/- in GDS Branch Post Offices in an account in a day. In order to facilitate GDS BRANCH POST OFFICE customers to open new accounts and make subsequent deposit through any bank cheque, following procedure for acceptance of cheque in GDS Branch Post Office is prescribed as under: –
(A) Operating procedure for Branch Post Offices
1. GDS Branch Postmaster can accept any bank cheque for opening of new account under SSA, TD and RD schemes and subsequent deposits in SSA, RD and Savings Accounts.
2. Only Account Payee cheque is to be accepted.
3. Cheque is to be drawn in favour of concerned Postmaster of Head Post Office; GDS Branch Postmaster will ensure the following: –
a) For opening of account (SSA/TD/RD): – Endorsement on the back of such cheque shall be made as “For opening of ……… (name of scheme) account in the name of ………………………… (name of proposed depositor) (Signature of depositor)”
b) For subsequent deposit (SB/RD/SSA): – Depositor will enter details of cheque in pay-in-slip and endorsement on the back of such cheque shall be made as “For credit in the Account No………………… in the name of ……………… (Signature of depositor)”
4. In case cheque is drawn in favour of depositor, GDS Branch Postmaster will ensure the following: –
a) For opening of account (SSA/TD/RD): – Endorsement in favour of Postmaster of HO on the back of such cheque shall be made as “Pay to Postmaster…………………P.O for opening of………………(name of scheme)account in the name of……………(name of proposed depositor)(Signature of depositor)”
b) For subsequent deposit (SB/RD/SSA): – Depositor will enter details of cheque in pay-in-slip and write the account number on the reverse of the cheque duly signed.
5. There should be no correction in the cheque. Account Office will reject the cheque in case of corrections/overwriting is found on cheque.
6. Branch Postmaster will check the following before accepting a cheque: –
a) It is not a post-dated cheque.
b) Date of issue of cheque is not more than 3 months old.
c) Amount in words and figures should match.
7. Preliminary Receipt, SB-26 is to be issued for the cheque collected by the GDS Branch Postmaster mentioning the Bank name, cheque number, date of issue of cheque and amount.
8. GDS Branch Post Office will not do any transaction for new account/subsequent deposit related to the cheque received in BO and sent for clearance to the Account Office, including those working on RICT device.
9. GDS Branch Postmaster will maintain a manual cheque register for registering list of cheques received for new account opening/subsequent deposit.
|Date of receipt of cheque||Name of Savings Scheme||Name of customer||Cheque Amount||Cheque Details (Bank name, date of cheque, Cheque No)||Date on which cheque sent to Account Office||New Account No (after receipt from Account Office)/Balance After transaction||Date of receipt of Pass Book from Account office||Signature of customer after receipt of
passbook at the time of Passbook handover.
10. GDS Branch Postmaster will forward the cheque along with new account opening form, Pay-in- Slip, KYC form /documents (if customer not given previously in Post Office) and cheque to Account Office duly entered in BO Journal and BO Daily Account on cheque receipt date in BO Account Bag.
11. GDS Branch Postmaster will forward the SB/SSA/RD cheques and Pay-in-slips for subsequent deposits along with Passbook to Account office duly entered in BO Journal and in BO Daily account on cheque receipt date in BO Account Bag.
12. On receipt of passbook from Account Office, GDS Branch Post office adopts procedure given below: –
a) Update the new account number /balance after transaction in the manual cheque register.
b) Depositor’s copy of SB-26 should be taken back and paste with office copy.
c) Depositor’s signature on manual cheque register should be obtained.
13. Manual cheque register maintained in GDS Branch Post Office should also be checked and verified by Inspecting/Visiting Officers during inspection/visit.
(B) Procedure at Account Office (Sub Office/Head Office)
1. Account Office (SO/HO) will check whether the physical cheque along with AOF/Pay-in slip/passbook is received w.r.t. to entries in BO Daily Account.
2. Account office (SO/HO) will maintain manual cheque register.
|Sl. No||Name of BO||Date of receipt of cheque from B O||Name of Savings Scheme||Name of customer||Cheque Amount||Cheque Details (Bank name, date of cheque, Cheque No)||Cheque Clearing date||Date of Posting/ credit into account.||New Account N o.||Date on which passbook sent to BO||Signature of P A/ Supervisor|
3. Account Office will send all cheques received from GDS Branch Post Offices along with cheques received in SO to respective HO for clearing by entering all cheques in Manual List.
4. Head Post Office will receive cheques and adopt procedure prescribed given as under: –
a) Compare cheque with manual list.
a) Ensure that cheque received is in order in all respect.
b) Lodge these cheques along with cheques received in SO in Outward Clearing Zone.
c) Cheque for new account opening/RD deposit will be lodged in respective SOs SOL ID+ 0382 office account and for SSA deposit to be lodged in HO SOL ID + 382 office account.
d) Cheque for deposit in PO Savings Account to be lodged in respective PO Savings Account.
e) After receiving clearance from clearing house/Bank/Grid, post outward clearing zone.
f) After receiving clearance, post Subsequent deposit for SSA by debiting HO SOL ID+0382 office account.
5. Account Office should check their clearing office account (SOL ID+0382) on daily basis to see clearance received from HO and on the date of posting in office account, adopt the procedure given as under: –
a) Open new account and link BO ID with value date as clearing date and fund the account by debiting SOL ID+0382 office account.
b) Subsequent deposits for RD are to be posted with value date as cheque clearing date by debiting SOL ID+0382 office account.
6. Account Office (SO/HO) will mention the cheque clearing date and date on which posting/credit done in account after clearance in manual cheque register to ensure that all cheques sent for clearing are processed and accounted for.
7. Amount of clearance of cheques lodged against SO clearing accounts will be automatically reflected under RSAO Grid Clearance Remittance (Cr) after clearing. After new account opening /subsequent deposits, it will be reflected as RSAO Grid Clearance Remittance (Dr) and deposit against respective scheme in daily account.
8. Account Office (SO/HO) will ensure that the BO cheque clearing amount is reflected in CSI daily account on day of accounting.
9. Passbook will be printed at Account Office (HO/SO) on day of account opening/subsequent deposits and update entries in manual cheque register.
10. Account Office (HO/SO) will send passbook to respective BOs duly entered in BO Slip on same day of new account open/subsequent deposit in BO account bag.
11. Account office (HO/SO) to ensure that BO ID is linked on DAY OF ACCOUNT OPENING without fail.
12. Supervisor will verify the new account opened with passbook and subsequent deposit entries made in passbook with manual cheque register and Finacle.
13. Manual cheque register maintained in Account Office (HO/SO) should also be checked and verified by Inspecting/Visiting Officers during inspection/visit.
Note: – Non- CBS offices will follow the procedure prescribed in POSB Manual Volume I Rule 8, Rule 9 & Rule 10 of Appendix I and after clearance of cheque open account/deposit in Sanchay Post then print/prepare/update passbook and sent to BO by entering in BO slip in BO Account Bag.
This order is not valid unless they amend Sec 131 of the Negotiable Instruments Act 1881.