(1). From the date of receipt of SB Order No. 13/2019 dated 18.12.2019, Certificates /Certificates account may be transferred from one individual to another, subject to the condition that the transferee is eligible to open an account under KVP / NSC Scheme, in the following cases, namely: -

(i) on the death of account holder in case of a single account or on the death of all the account holders in a joint account, the amount shall be transferred to the legal heirs or the nominees as the case may be.

(ii) on the order of the court, the account shall be transferred from the account holder to the court or to any other individual as per the orders of the court;

(iii) on pledging, account shall be transferred in accordance with rule relating to pledging of account;

(iv) In the event of the death of any of the account holders in a joint account, the account shall be transferred in the name of the surviving account holder or account holders, as the case may be.

Note: No fee is applicable when a certificate/NSC account is transferred from one person to another person.

(2) Procedure in Head Offices: - 

If the transfer is sanctioned by the Head Postmaster, in every case of transfer, name of previous holder shall be rounded and name of new holder shall be written under the dated signature of the authorized Postmaster along with his/her designation and date stamp of the post office. The application for transfer shall be attached with the original application for purchase.

(3) In case the holder of a Certificate, who had made a nomination, transfers the Certificate, the nomination is automatically cancelled and the words "cancelled by transfer" will be noted on the application for nomination, application for purchase and in the register of nominations.

(4) Transfer of Certificates from one person to another should be done at HO only. Any such request if received at any SO should be entered in a register and sent to HO along with documents and recommendations on the day of its receipt. Designated PA has to first check whether CIF is already there for the person in whose name certificates are to be transferred by using De-duplication. If not exists, new CIF is to be created by using CCRC menu. Then Supervisor has to go to menu HCCA and using modify function code, enter CIF ID of the person in whose name account is to be transferred. Modify account name as Yes, select reason code as D or T or C. Click on submit and accept. Another Supervisor has to accept the modification. The Supervisor has to go to HAALM menu and change name of account holder. Another Supervisor has to verify the modification if the application was received from SO, it will be returned to the S.O.