Important Notice for Post Office Savings Bank Account holders
It is hereby notified for information of all concerned that the Government of India has now prescribed a minimum balance of Rs. 500/- to be maintained in a Post Office Savings Bank Account. Failure to maintain this minimum balance would result in deduction of an annual fee of Rs. 100/- and the account would get closed automatically once the balance becomes nil after deducting such fee. The depositors of accounts with balance less than Rs. 500/- are requested to raise the balance to Rs. 500/- or more latest by 11.12.2020 in order to avoid inconvenience.
Wednesday, January 22, 2020
Draft Notice for Newspapers and P. O. Notice Boards/ Pamphlets regarding MINIMUM BALANCE IN POSB ACCOUNTS (Rs.500 & more) .... BY 11-12-2020
Draft Notice for Newspapers and P. O. Notice Boards/ Pamphlets - reg.
Dear Sir/ Madam,
This is regarding Draft Notice for Newspapers and P. O. Notice Boards/ Pamphlets to be published / conveyed to POSB Customer in respect of Gazette Notification dated 12.12.2019 by MoF.
The text, as approved by competent authority is as under :
It is requested to do the needful & ensure compliance at the earliest.
The Circles may also get the text translated in the vernacular language, as & when required, in accordance with the existing norms.