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General_Opening_account

 OPENING OF ACCOUNT AS PER GSPR-2018

Eligibility to open an account.- 

(1) An adult who is a resident citizen of India is eligible to open an account under these rules.

 Provided that an account may be opened by a guardian on behalf of a minor or person of unsound mind.

         Provided further that the guardian as well as the minor or a person of unsound mind shall be the resident citizen of India.

(2) A Minor who has attained the age of ten years may open and operate an account in accordance with the provisions of a Savings Scheme.

(3) If a depositor in a single account, or any of the depositors in a joint account, or either the guardian of minor or person of unsound mind or minor depositor, as the case may be, subsequently becomes Non-resident Indian during the period the account is in operation, the account may be continued till its maturity and the benefits available to the depositor in the said account shall be available only on non-repatriation basis and the account shall not be allowed to be extended or continued beyond maturity, even if such extension or continuation is and otherwise permissible, and no interest shall be payable after the date of its maturity.

(4) If a depositor in a single account, or any of the depositors in a joint account, or either the guardian or a minor depositor or a depositor who is a person of unsound mind, as the case may be, ceases to be a citizen of India, the account shall be closed or deemed to be closed from the last day of the month preceding the month in which the depositor ceases to be a citizen of India.

 

5. Opening of an account.- 

(1)An Account may be opened by the depositor either by visiting the Accounts Office in person or through permissible electronic modes including internet or mobile banking application of the respective Government Savings Bank in accordance with the procedure approved by the Reserve Bank of India, from time to time.

 

 (2) An eligible individual desiring to open an account may do so by making an application in Form 1 to the Accounts Office along with the following documents namely:-

(a) proof of age of minor in case of account opened by a minor or on behalf of a minor;

(b) a recent passport size photograph; (See amendment)

(c) a certificate from Superintendent of mental hospital where a person of unsound mind is confined or treated, as the case may be, in case the account is opened on behalf of the person of unsound mind;     

(d) amount of deposit, accompanied by a Pay-in-Slip; and

(e) Identity documents specified in rule 6.

(3)  An illiterate or a blind or visually challenged individual desiring to open an account shall personally visit the Accounts Office for authentication of his signature or thumb impression by the Accounts Office provided he shall be accompanied by a person known to the Accounts Office and a literate person may be authorised by the blind or visually challenged depositor to operate an Account on his behalf.

(4)      An illiterate depositor shall be assisted by the Authorised Officer of Accounts office for opening (filling up of forms etc.) and operating the account and thumb impression of the illiterate depositor shall be witnessed by an independent witness acceptable to the Accounts Office on each occasion of withdrawal.

(5) A blind or visually challenged or illiterate depositor may open joint account with literate depositor.

(6)      The persons with autism, cerebral palsy, mental retardation and multiple disabilities as defined in section 2 of Mental Retardation and multiple disabilities Act, 1999 (44 of 1999) may open and operate an account through guardian and a certificate from the Medical Superintendent or Civil surgeon or Chief Medical officer of the Central or State Government to this effect shall be submitted at the time of opening the account.

Identification of depositor(s):


(1). An individual shall also submit to the Post Office, the following identity documents containing proof of identity and address for the purpose of opening an account:
(i). The Aadhaar Number issued by the Unique Identification Authority of India:

Note 1: If the Aadhaar Number has not been assigned to an individual, he\she shall furnish proof of application of enrolment for Aadhaar, and if the individual does not submit the proof of application of enrolment, he/she shall furnish a certified copy of an officially valid document containing details of his/her identity and address along with a recent photograph.
(ii). The Permanent Account Number or Form 60 as defined in the Income Tax Rules,
1962:

(iii). In addition to Aadhar and PAN Cards, the following documents can also be accepted as officially valid documents for the purpose of identification and address proof:
1. Passport
2. Driving license
3. Voter’s ID card
4. Job card issued by NREGA duly signed by the State Government officer
5. Letter issued by the National Population Register containing details of name and
address
(iv) Any other document as may be considered necessary, including those related to the
nature of business and financial status of the depositor.
(2). In case the Aadhaar Number or Permanent Account Number submitted by the depositor does not have the present address, the depositor shall submit a certified copy of an officially valid document containing his/her present address:
Note 1: If the officially valid document submitted by the depositor does not contain updated address, any of the following documents shall be deemed to be officially valid documents for the limited purpose of proof of address.
(i) utility bill which is not more than two months old of any service provider (electricity, telephone, postpaid mobile phone, piped gas, water bill); or
(ii) property or Municipal tax receipt; or
(iii) pension or family pension payment orders issued to retired employees by Government
Departments or Public Sector Undertakings, if they contain the address; or
(iv) letter of allotment of accommodation from employer issued by the State Government or Central Government Departments, statutory or regulatory bodies, public sector undertakings, scheduled commercial banks, financial institutions and listed companies and leave and licence agreements with such employers allotting official accommodation:
Note 2: The depositor shall submit Aadhaar Number or Permanent Account number, or a
certified copy of an officially valid document containing updated current address within a
period of three months of submitting the above documents.
(3). In case of a Joint Account, identity document of all the depositors opening the account jointly shall be obtained.
(4). In case of an account opened on behalf of a minor or a person of unsound mind the identity documents of the guardian shall be obtained.
(5). Birth Certificate or proof for the date of birth of the minor has to be obtained in case of Minor Accounts other than Sukanya Samriddhi Account.
(6). For opening of Sukanya Samriddhi Account, Birth Certificate of Girl Child is mandatorily to be obtained. Birth certificate means Birth Certificate issued by the municipal authority or any office authorised to issue birth and death certificate by the Registrar of Births and Deaths or the Indian Consulate as defined in clause (d) of sub-section (1) of section 2 of the Citizenship Act, 1955 (57 of 1955)
(7). When an account is opened through an authorised agent, the agent shall also affix his/her signatures and mention the particulars of his/her agency on the identity documents, alongside those of the depositor.
(8). In case of change of address, the depositor shall submit the relevant identity document with updated address within a period of three months.
Note 1: Documents should be self-attested or in case of illiterate depositors should be attested by Gazetted Officer/Sarpanch/ Branch / Sub / Head / Chief Postmaster or Postman/Gramin Dak Sewak Delivery Agent.
Note 2: The customers who are already having updated KYC details in CBS Post Offices are not required to submit photographs and KYC documents for opening of accounts subsequently.
Note 3: Depositor may open account in any post office by submitting the prescribed KYC
documents irrespective of his/her area of residence.

Amendment :


SB Order No. 2/2022

Validation of PAN number with NSDL database has been implemented in Finacle vide SB Order No. 2/2022. It has been decided to restrict the account opening without entering either PAN or Form - 60 details and validate the correctness of the PAN number entered by availing the facility of online verification of PAN Numbers being provided by NSDL. Accordingly Finacle CBS System is integrated with NSDL System. For Standard Operating Procedure and SB Order No. 2/2022 Click here.....SB Order No. 2/2022

SB Order No. 2/2024:

However, with effect from 01.05.2024, changes have been made with respect to PAN validation. Accordingly, Protean system has been mandated by lncome Tax Department to provide the following responses, which is a regulatory compliance to be met by Department of Posts:

Accordingly, at the time of validation of PAN through CCRC menu or CI\IRC menu in Finacle, the following data/information entered / available in CIF will be sent to Protean System for validation.


i. PAN Number 
ii. Name (Concatenation of First Name, Middle Name and Last Name)
iii. Date of Birth

Finacle system will restrict acceptance of PAN in case of :

PAN status from NSDL     -    other than Existing and Valid
Name                                -    N - Not Matched
Date of Birth                      -    N - Not Matched

PAN will be accepted only if the PAN status is shown as 'E' (Existing and Valid). But even if PAN status is 'E', if other status (Name, DOB, PAN-Aadhar linking) fails, PAN should not be accepted. 

Further, it should be ensured that the valid PANs are mandatorily accepted from the depositor on the date of happening of any of the fo[owing events, in accordance with the provisions in Rule 6 of Government Savings promotion General Rules 2018 amended vide notification No. G.S.R. 238(E) circulated vide SB order No. 8/2023 dated 03.04.2023.

(i) the balance at any point of time in the account exceeds fifty thousand rupees; or
(ii) the aggregate of all credits in the account in any financial year exceeds one lakh rupees; or
(iii) the aggregate of all withdrawals and transfers in a month from the account exceeds ten thousand rupees;

Click here for SB Order No. 2/2024 


Online-account opening introduced  for SCSS, MSSC and MIS;

1 Online accounts under SCSS, MSSC and MIS can be opened by investors through DOP Internet banking.  Only Single Type account can be opened.  Only DOP Netbanking users can open online accounts.  Nominee already available in their Savings Account can be registered for the above schemes.  SCSS accounts can be opened only if the depositor has attained the age of 60.  Those who are below 60 years of age can open the new accounts only at the Post office.


As per SB order No. 16/2023, when an account is opened on behalf of minor, recent passport size photograph of the guardian is to be produced.

Non-Resident Indian:

Non-resident Indians are eligible to be nominated as  nominees subject to the condition that payment to such nominee/s shall be on non- repatriation basis.


Operation of account by Guardian in respect of minors/persons of unsound mind:
In the event of death of guardian or on order from any Court of Law in any case of change in the guardian, the succeeding guardian shall be eligible to operate the account of the minor or the person of unsound mind as the case may be. 

SB Order No. 16/2023:

Mobile number updation is mandatory:

Mobile number updation is mandatory as per SB Order No. 17/2017 for all new accounts to be opened and also for all existing accounts.  

This was reiterated in SB Order No. 1/2022.  It was stated that  if any transaction (Deposit/Withdrawal/Loan Disbursement/Loan Repayment/Closure of account (either premature or on maturity)) carried out in any CBS post office and if the amount is Rs. 20,000 and above, mobile number must be checked and if necessary, updated before initiating the transaction.

For the purpose, before initiating any transaction of Rs. 20,000 and above, counter PA shall invoke menu CICD and check, whether mobile number/PAN are updated in respective account or not.

If mobile number/PAN are not updated/available in account, in which transaction is to be done, mobile number and PAN should be obtained by the counter PA on the voucher (i.e., SB-103/SB-7/7A/7B/7C) from the account holder/authorized person.

In case, mobile number of a depositor is required to be changed, a separate written application may be obtained from such depositor. On verification of signature of the depositor, the mobile number shall be updated by invoking CMRC menu by the counter PA and verified by the supervisor. This application should be attached with the Account Opening Form (AOF) and KYC document of the respective account.

Non-CBS post offices shall also obtain mobile number for transaction above Rs. 20,000.

As per SB Order No. 22/2022,  Finacle will throw an error whenever transactions are done if mobile number is not seeded to any CIF-ID.  GDS Branch offices shall also ensure that mobile number is seeded in Finacle in respect of all their BO accounts.

As per SB order No. 17/2022, Finacle will throw an error if a single mobile number is linked to more than five CIF-IDs.

Click here for SB order No. 17/2017,  SB Order No. 1/2022  and SB Order No. 22/2022

and SB Order No. 17/2022


As per SB Order No. 22/2022, mobile number seeding in CIF is mandatory but for effective implementation of this order in respect of RD accounts opened/operated through MPKBY agents, a facility is needed to be introduced in Agents Portal.  As per Department of Posts, FS Division letter No. CBS-25/4/2023-FS-DOP-Part-(1) dated 14.6.2024,  the above facility is being introduced in Agents Portal.

MPKBY agents can generate a list of RD accounts which are not linked with any Mobile Number.  Before 31.07.2024, agents should collect the mobile numbers of RD depositors and link it to their CIF ID.  With effect from 1.8.2024,  RD bulk list of MPKBY agents shall not be allowed to be created if any RD account number to be included in the RD list is not linked with mobile number.

Change of name or surname of depositors:

Change of name or surname may be allowed by the account office by following the procedure laid down by Reserve Bank of India for change of name or surname in Bank Savings Account

SB Order No. 16/2023:

Change of name of a depositor can be done at HO only.    See SB Order No. 24/2022