Replacement of Rule-87 of POSB Manual Vol-I and Rule 50 of POSB MAnual Vol-II-New Procedure for POSB Claims settlement to be followed from 01/01/2011

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SB ORDER NO 25/2010 No 113-7/2008 SB dated 23.12.2010 Main Points Form of preferring claim has been revised. New claim form has been devised.

There will be only one claim form for all the three types of claims ie (a) with nomination (b) with legal evidence SB- 84 claim form will be discontinued . In case of no nomination /legal evidence , the claimant has to produce three documents ie (a ) Affidavit (b) letter of indemnity and (c) Letter of disclaimer on Affidavit as prescribed in SCSS-2004 by MOF (DEA).

No Separate sanction memo will be issued and no account closure form will be required after sanction as both these options are available in the claim form itself

Proof of death is to be given by the claimant in original after which no further enquiry is required to be done by the sanctioning authority.

Claimant has to give two witnesses on the claim form and his /her ID as well as Address proof along with claim form. After acceptance of witnesses by BPM/SPM/PM or SR PM on the claim form no further enquiry will be required to be done about genuiness of claimant by the sanctioning authority

Every Post office where the claim will be preferred has to forward the claim to the post office where the account stands by service insured post on the very day of its receipt .

The post office where the account stands , on receipt of the claim either directly or by insured Post will issue acknowledgement to the claimant on the same day and settle financial powers or forward the same to the sanctioning authority by service insured post on the day of its receipt.

Every administrative office will dispose off the claim case within 7 working days of the receipt of the same .

Responsibility will be fixed for delay in settlement beyond 7 working days

Taking a proof of death in original. Two witnesses , ID and address proof of the claimant and three legal documents ie (a) affidavit (b) Letter of indemnity and (c) Letter of disclaimer on Affidavit will be the safe procedure to absolve the post office from any legal responsibility.

All payments of deceased claim cases will be made by crossed cheque only.

SAVINGS CERTIFICATE Present claim forms in case of Nomination and legel evidence have been retained

SB- 84 has been discontinued and in case of no nomination or legal evidence , the claimant has to submit the new prescribed form along with three legal documents as prescribed in case of SB accounts

All other features will be same as of POSB accounts

This new procedure will be applicable from 01.01.2011 or from the date of receipt of this order.