SB order 17/2015: Mandatory use/opening of savings account in CBS Post Offices for maintaining/development of relationship of customers with POSB-further clarifications to Sb order 12/2015 and 15/2015 in DOP

• In continuation of SB order 12/2015 and 15/2015 the Directorate has given the clarification for both these orders in SB order 17/215.
• In case of Re-Investment of an account we should request the customer to open SB account to avail the Post Offices services like ATM. Customer should not be compelled to open SB account.
• In case of RD/PPF subsequent deposits customers should not be compelled to open Savings Account and other banks should continue to be accepted
• All MIS/SCSS/TD account holders should also be requested to open savings account and give standing instruction to Savings Account in order to overcome the longs queues in Post office and once SI given customer need not visit Post Office. Customers can also avail the services of ATM/Debit card for withdraawal of money. No depositor should be compelled to open savings account.
• For Directorate copy of SB order 17/2015 please find the below attachment.