Clerification Regarding Acceptance of POSB Cheque at Other SOLs without limit for Deposit in POSB Schemes

S.B. Order 12/2019 

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 27] and POSB (CBS) Manual Appendix I [para 20(12)] and Appendix III [para 10(2)] 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, HXFER, CRDP,CPDTM, HTM menus stands deployed in Finacle. 

This issues with the approval of competent authority. 

(Devera arma) 

Assistant director (SBPG)

 

Source : http://utilities.cept.gov.in/dop/pdfbind.ashx?id=3989