What is the present rate of interest for SB Accounts
Whether any nomination facility is available for Savings Bank Account in Post Office
Yes Nomination facility is available for all individual accounts except in Minor accounts
Whether a minor can open a saving account
Yes, If he is of 10 years of age he can open account other wise guaridan can open for him
Whether Introduction is compulsory for Open SB account
Yes , Introduction of the depositor is compulsory for Individual accounts unless the depositor is known to the post office
Whether there is any Limit for deposit in SB account
From 01.10.2011 onwards , there will be no limit for retaining balance in single as well as Joint accounts
What is the minimum balance of cheque account for SB account
What is the minimum amount of deposit in RD account
Whether a RD account can be continued after maturity period
Yes it can be continued for a further period of five years from date of maturity
Then what is the rate of interest of matured for post maturity period in RD accounts
The depositor shall be entitled to a simple interest at the rate applicable time to time to PO savings account from the date of maturity till the date of payment
Whether there is any Premature closure is allowed for Recurring Deposit (RD)
Yes , Premature closure is permitted on completion of three years from the date of Opening
What is the present rate of interest rate of 1,2,3,5 year Time Deposit (TD) accounts
For 1 and 2 Year 8.20 % per annum For 3 year 8.30 % Per annum and 5 year 8.40 % per annum
Whether any limit is exists for open TD accounts in case of no of accounts
No , Any number of TD accounts can be opened
Whether any facility for transfer annual interest of TD accounts to my Savings account
Yes Annual interest can be automatically credited to Savings account
What is the rate of interest allowed at the time of Post maturity for TD accounts
Post maturity interest shall be allowed at SB rate
What are the conditions for premature closure for TD accounts
Premature closure of the account is permitted on some conditions
In case of premature closure TD accounts of 1,2,3 and 5 Years accounts . if deposit is withdrawn after six months , but before the expiry of one year from the date of deposit , simple interest at the rate applicable from time to time to PO savings account shall be payable
In case of premature closure on or after 01.12.2011 , if the deposit is withdrawn after expiry of one year from the date of deposit , interest on such deposit shall be calculated at the rate , which shall be one percent less than rate specified for a period of deposit of 1 year, 2 years and 3 years
What is the maturity period of Monthly income Scheme (MIS)
The maturity period of MIS on or after 01.12.2011
What is the minimum and maximum amount for open a MIS account
Minimum amount of deposit is Rs 1500 and in multiples of Rs 1500/- Maximum amount is Rs 4.5 Lakhs in the case of Single account and 9 lakhs in the case of Joint account
What is rate of interst for MIS accounts
From 01/04/2013 the rate of interest for MIS accounts is 8.4 % per annum
What is the rate of bonus which is applicable for MIS account ?
No Bonus will be paid for the accounts opened from 13/02/2006 to 07/12/2007
5 % Bonus is payable for the accounts opened on or after 08.12.2007.
There shall be no bonus admissible on maturity in the accounts opened on or after 01.12.2011
Whether premature closure is allowed for MIS , If so then what are the conditions for that
Yes, If the account is closed before three years an amount equal to two percent of the deposit shall be deducted and If the account is closed after three years an amount equal to one percent on the deposit amount shall be deducted .
What is the period for Senior Citizens savings scheme
Who can open SCSS account ?
Any individual who has attained the age of 60 years on the date of opening or who has attained the age of 55 years or more but less than 60 years and who has retired on superannuation or otherwise on the date of opening of an account under these rules subject to the condition that the account is opened by such individual within one month of the date of receipt of the retirement benefits along with a certificate from the employer indicating the fact of retirement on superannuation or otherwise , retirement benefit and period of such employment with the employer is attached with the supplication form
Whether the joint account is permitted in the case SCSS account , If so what is the condition
Yes ,Joint account is opened with the spouse only and not with any other person ,
In the case of joint account the age of first applicant ie depositor is the only factor to decide the eligibility and there is no age bar/limit for second applicant
What is the present interest rate of SCSS account
9.2 % per annum
Whether the Premature closure is allowed in SCSS account
Yes, It is allowed after one year from the date of opening
After one year and before 2 years from the date of opening Deduct 1.5 % from Depost amount If the account is closed after two years Dedcut 1 % from the deposit
Prepared by S Jayachandran , System Administrator , Mavelikara Head Post Office , 690101- Kerala- Mob No 9961464279
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Sunday, August 18, 2013
Posted by S Jayachandran at 6:23 AM
Saturday, August 17, 2013
IT-major Infosys, which bagged the India Post contract last year to upgrade the department’s technology framework for financial services, is in its final stages of providing a software solution for a hand-held device to be used by the postal network. The device will help it deliver an array of financial products directly to the consumers even in the most remote areas.
The hand-held technology device to be used by the postman will ensure last-mile connectivity for banking transactions of India Post across its over 1.5 lakh branches. The country's second largest IT-services exporter has already developed the necessary software and is waiting for the hardware partner to be finalised, which will be decided by the Department of Posts.
Talking to FE, CN Raghupathi, head, India business unit, Infosys, said, “The idea is to make India Post a modern bank where the postman becomes a banking correspondent where he can do banking transactions with the hand-held device.”
Infosys bagged the multi-year deal from Department of Posts in August, 2012, valued at around R700 crore to bring about a technological transformation. Under the deal, Infosys will implement its core banking solution, Finacle and McCamish insurance product, which will connect 150,000 post offices and cover 200 million customers with India Post's Financial Services System Integration plan.
The ambitious India Post 2012 vision has certain key objectives such as modernisation and computerisation of all post offices, development of robust software systems, creating data centres and deployment of rural information communication technology infrastructure in over 1.3 lakh
Source : Financial Express
Posted by S Jayachandran at 10:07 AM
Thursday, August 8, 2013
A set of Model questions from Post office Guide Part I- Study material for various Departmental Examination
Please visit Http://nfpemavelikaradivision.blogspot.in
1. The Mobile post office is not functioning in which city mentioned below
A Bombay b. Calcutta c. Delhi d Trivandrum
2. The device is a stamping machine intended to stamp impressions of dies of approved design on private and official articles in payment of postage and postal fees. What is the name of that device ?
a. Electronic stamping machine b Automatic stamping machine c EPBX d Franking machine
3. The use of franking machine except under a valid licence issued by ---------------
a CPMG b PMG c Business Executive d Head of the Postal Division
4. The franking machine must be obtained by the licence only from the firm authorised by the licensee only from the firm authorised by the Director General of Posts
The above said statement is true or false
A True b False
5 Wherever the licensee wishes to deposit any sum in advance and to have the meter of the machine reset then what he will produce ?
a Franking Machine and machine details b Franking Machine and related documents c Franking machine documents only d Franking Machine with the Franking Machine record book
6 The facility of pre-payment of Postage charges in cash is available for ---------------and ----------
a Register red News Papers and unregistered packets b Registered parcels and unregistered packets c Insured letter and registered news papers d None of these
7 The manufacture and use of fictitious postage stamps for any purpose whatsoever is prohibited and is an offence punishable under section -------------- of the Indian Penal code .
A 263- A b 273 c 273-A d 263
8 A copy of Gazette Notification No 58(E) dated 31.1.2011 deleting the Rule 195 of the Indian Post Office Rules, 1933 regarding ----------------------
A 'Certificate of Posting b discontinuation of KVP c Both a and b d None of these
9 What are the articles treated as first class mail ?
A Registered News Papers and sample packets b Book Packets and sample Packets c Postcards , Blind Literature , sample packets d Letters , Post Cards and letter cards
10. Reproduction of stamps is allowed for illustration purpose in Philatelic publication or in an article or section relating wholly to postage stamps which may appear in publication of a general character.
The above said statement is true or False
a True b False
11 How many denominations of postal orders are now available at the post office for the sale
A 8 b 7 c 6 d None of these
12 What is the commission chargeable for postal order for Rs 100/-
a 5 b 2 c 3 d 10
13 If an Indian postal order is not presented for payments within ----------- months from the last day of the month of issue a second commission at the rates prescribed will be charged which must be paid in --------------
A 12 Months and Paid in postage stamps b 24 months and paid in postage stamps c 6 months and paid in postage stamps d None of these
14 When a postal order is treated as forfeited ?
A Payment more than 36 months after the last days of the month of issue
B Payment more than 24 months after the last days of the month of issue
C Payment more than 12 months after the last days of the month of issue
D None of these
15 The purchaser of an Indian Postal order can obtain repayment of the value and commission
The following statement is true or false
a True b False
Prepared by S Jayachandran, System Administrator , Mavelikara Head Post office
Posted by S Jayachandran at 11:28 PM