The below is the extract form the POSB Order 23/2021.
If the depositor is doing a signature then the thumb impression is not allowed… as if counter PA and Supervisor are satisfied then they can give payment in form-12. They can be denied the payment if not satisfied.
In response to concerns from elderly and unwell depositors unable to visit post offices in person, the Ministry of Finance has provided provisions for withdrawals, loans, or account closures through an authorized representative. This guide outlines the process for executing such transactions on behalf of elderly or ill depositors in accordance with Rule 11 of the Government Savings Promotion General Rules – 2018.
Guidelines for Withdrawal or Account Closure Through an Authorized Person
1. Application Submission (Form-12)
- The account holder must submit an application in Form-12 to the concerned postmaster, requesting account operation (withdrawal, loan, closure, or premature closure).
- In Form-12, the account holder authorizes a literate person to operate the account on their behalf.
2. Authorized Person Requirements
- The account holder must attest the signature of the authorized person. In Joint B Accounts, any one account holder can attest the signature.
- The authorized person should not be a Savings Agent (SAS/MPKBY) or an employee working in the Post Office Savings Bank branch.
3. Supporting Documents
- The account holder completes and signs the relevant form:
- Withdrawal Form (SB-7)
- Closure Form (SB-7A)
- Premature Closure Form (SB-7B)
- Loan Application (SB-7C)
- Self-attested ID and address proofs of both the account holder and the authorized person should accompany these forms. If multiple transactions are authorized for the same day, only one set of KYC documents is required, though Form-12 must be completed for each account.
4. Submission Process at the Post Office
- The authorized person submits the passbook, Form-12, and the relevant forms and KYC documents at the post office.
- The Counter PA (Postal Assistant) verifies the account holder’s signature in the forms with those on record.
5. Supervisor Approval
- After verification, the Supervisor checks and verifies all signatures and documents. If satisfied, they authorize the transaction by marking it as “authorization accepted.”
- In cases of doubt, the Postmaster may delegate an official to verify the account holder’s request in person.
6. Final Steps and Payment
- The Counter PA or Supervisor completes the transaction as per the rules. Payment is made via account payee cheque, transfer to a PO Savings Account, or deposit into the account holder’s bank. No cash payments are permitted.
- The authorized person’s signature is recorded, and after account closure, they receive the account payee cheque, passbook, and any related documents.
7. Documentation for SBCO (Savings Bank Control Organization)
- Form-12 and KYC documents are filed with the voucher for submission to SBCO.
- SBCO verifies that no cash payments were made and that all documents are correctly processed.
Additional Note for PO Savings Account Holders
- Account holders with a PO Savings Account can link it to Cheque/ATM/eBanking/mBanking/IPPB services to simplify withdrawal processes.
Clarification on Authorization Submissions
- The physical presence of the account holder for submitting Form-12 is not required. This form can be submitted by the authorized person directly.