Revision of cash acceptance limit in GDS Branch Post Offices and cash transaction limit at other SOLs
SB Order No. 03/2021
Government of India
Ministry of Communications
Department of Posts
Dak Bhawan, Sansad Marg,
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 account 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.
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 transaction 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.
Assistant Director (SB-II)
Source PDF: Department of Posts SB Order 03_2021