Wednesday, November 29, 2023

Department of Posts has released new guideline for Small Saving Scheme

The Department of Posts has released updated information regarding the Public Provident Fund (PPF), Sukanya Samridhi Yojana, NSC, Senior Citizen Savings Scheme, and other minor savings schemes under the Small Saving Scheme. There are rules in place. The post office has discussed how this policy will help its customers.

Small Saving SchemeThe postal service has alleged

that numerous post offices are delaying the timely resolution of death claims. Additionally, they do not adhere to the requirements for filing a death claim. In this case, the postal service has ordered that the death claim be resolved right away and stated that any such case should be resolved within the allotted time.

Small Saving SchemeFor a death claim, these requirements must be followed.

  • According to the agency, the post office must make sure that deceased claim cases are resolved within the allotted time frame.
  • For the prompt resolution of death claim cases, it is required to abide by a set of guidelines, according to information released by the Department of Posts on January 9, 2023.
  • When filing a death claim, KYC documentation must be present, and it must be validated at the post office.
  • The copies of the KYC documents must also bear the signatures of witnesses. The witness will need to go to the post office if the signature is missing.
  • Additionally, the claimant’s signature, bank account information, and other documents are required.
  • It is necessary to give all the paperwork required to resolve the death claim; otherwise, the funding risked ceasing.
  • The deadline for filing a death claim is one day for nominees and seven days for everyone else.

Small Saving SchemeLegal documents to be given for Small Saving Scheme

It is important to provide court-issued legal documents if the amount issued under any plan exceeds Rs. 5 lakh and there is no nomination or nomination in that account. However, there is no requirement to present any legal documentation for the death claim if the sum is less than five lakh rupees.

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