SB Order 02/2023SSA Withdrawal facility and AmendmentsToAll Head of Circles / Regions
Subject: Deployment of functionality in Finacle CBS for SSA Withdrawal facility and Amendment to procedural rule in POSB (CBS) Manual (Corrected up to 31.12.2021) - Regarding.
In accordance with the provisions in Rule 8 of SSA Scheme 2019, withdrawal of up to a maximum of fifty per cent ofthe amount in the account at the end of the financial year preceding the year of application for withdrawal, shall be allowed for the purpose of education of the account holder subject to the conditions that withdrawal shall be allowed after the account holder attains the age of eighteen years or has passed tenth standard, whichever is earlier.
(2). The application for withdrawal shall be accompanied by documentary proof in the form of a confirmed offer of admission of the account holder in an educational institution or a fee-slip from such institution indicating such financial requirement.
(3). The withdrawal under sub-paragraph (1) may be made in one lump sum or in instalments, not exceeding one per year, for a maximum offive years, subject to the ceiling specified in sub-paragraph (1): Provided that the amount of withdrawal shall be restricted to the actual requirement on account of fee and other charges required at the time of admission as shown in the offer of admission or the relevant fee-slip issued by the educational institution.
4. Since there was no provision in Finacle for withdrawal from SSA account, it was prescribed in Rule 126 (2) (v) of POSB CBS Manual (Corrected up to 3 1.12.2021) that till the provision is made for withdrawal from SSA Account, if any request for withdrawal is received, it will be handled manually by raising the ticket with CEPT.
5. The functionality for withdrawal from SSA account has been deployed in Finacle on 20.02.2023. Accordingly, procedure in the Rule 126 (2) (v) of POSB CBS Manual (Corrected tp to 31.12.2021) is amended as follows.
(i). Counter PA has to collect the Application for Withdrawal along with thedocumentary proof as prescribed in the relevant rules and scrutinize the application forwithdrawal as prescribed for withdrawal from savings account. Note 1: The amount shall be paid either in cash (up to { 20,000i-) or through cheque or through transfer to Post Office Savings Account ofthe depositor or the guardian. Note 2: If the depositor attained the majority, the withdrawal may be given through cheque / PO Savings account of the depositor or guardian and if the depositor is minor, withdrawal may be given through cheque or transfer to PO Savings account ofthe guardian.- Counter PA in Finacle
- Shall invoke CPWTM menu
- Select Cash / Transfer option, as applicable.
- Select Normal Withdraw
- Click on GO
- Enter SSA account in Account Number (Dr.) field. ; Iftransaction type is Transfer,
- enter 0340 (for cheque) / POSA account of depositor or guardian, in Account
- Number (Cr.) field;
- Enter amount of withdrawal
- Select'Reason for Withdrawal'- l0s Pass / Attained age of 18 years
- Enter the FEES amount.
- Select 'Documents Received' option ifreason is 1Oth Pass.
- Enter PAN number if amount of withdrawal is more than < 50,000/-
- Click on SUBMIT
(iii). Counter PA shall note down the TRAN ID on the withdrawal form and transfer the application for withdrawal along with the documentary proof for verification by the Supervisor.
(iv). Supervisor shall verify the documents, eligibility for withdrawal and transaction inFinacle by using CPWTM menu.
Note: Counter PA and Supervisor should ensure that no wrong withdrawal transaction is performed in Finacle. If any wrong withdrawal transaction is performed, it should be ensured that withdrawal transaction is posted, verified and not deleted. After verification in CPWTM by Supervisor, Post Office by using the CPDTM menu may reverse the wrong withdrawal in SSA account. Further, it should be ensured that partial amount is not reversed through CPDTM and the exact amount of withdrawal should be reversed using report code REVRS.
4. This may be circulated to all the Offices for information and necessary actions
5. This is issued with the approval of competent authority.എസ്. ബി. ഓർഡർ 02/2023 പ്രകാരം എസ്.എസ്.എ യിൽ നിന്ന് പണം പിൻവലിക്കുന്നതിന് പുതിയ നിയമങ്ങൾ പ്രാബല്യത്തിൽ വന്നു.▬▬●▬▬ @PostalKerala ▬▬●▬▬
🍁 കുട്ടിയുടെ വിദ്യാഭ്യാസ ആവശ്യങ്ങൾക്കായി, 10 ആം ക്ലാസിനു ശേഷമോ, 18 വയസ് പൂർത്തിയാകുന്ന സമയമോ, എതാണ് ആദ്യം വരുന്നത് ആ സാഹചര്യത്തിൽ 50% വരെ തുക പിൻവലിക്കാം.
🍁 തൊട്ടു മുൻപത്തെ സാമ്പത്തിക വർഷത്തെ മൊത്തം തുകയുടെ 50% വരെ ആണ് പിൻവലിക്കാൻ കഴിയുന്നത്. ഈ തുക വിദ്യാഭ്യാസ ആവശ്യങ്ങൾക്കായി മാത്രമേ ഉപയോഗിക്കാൻ കഴിയൂ.
🍁 10 ആം ക്ലാസിനു ശേഷം തുടർ പഠനത്തിന് പോകുന്ന സ്ഥാപനത്തിൽ നിന്ന് ലഭിക്കുന്ന ഫീ റെസിപ്റ് അടിസ്ഥാനത്തിൽ അത്രയും തുകയാണ് അനുവദിച്ചു നൽകുക. ഒറ്റ തവണയായോ, ഗഡുക്കളയോ പണം കൈപ്പറ്റാൻ കഴിയും. 20000 ൽ താഴെയുള്ള തുക നേരിട്ടും, കൂടുതൽ ആണെങ്കിൽ കുട്ടിയുടെയോ, രക്ഷിതാവിന്റെയോ POSB അക്കൗണ്ട് ലേക്ക് പണം നിക്ഷേപിക്കും. ചെക്ക് ആയും കൈപ്പറ്റാൻ കഴിയും.
💥 അക്കൗണ്ടിൽ 1 ലക്ഷം രൂപ ഉണ്ട്, ഫീസ് 20,000 ആണെങ്കിൽ അതു മാത്രമേ എടുക്കാൻ കഴിയൂ, അതും കൃത്യമായ ഫീസ് അടച്ച receipt ന്റെ അടിസ്ഥാനത്തിൽ. മാക്സിമം 50,000 അഥവാ 50% എടുക്കാൻ പറ്റും.
To
All Head of Circles / Regions
In accordance with the provisions in Rule 8 of SSA Scheme 2019, withdrawal of up to a maximum of fifty per cent ofthe amount in the account at the end of the financial year preceding the year of application for withdrawal, shall be allowed for the purpose of education of the account holder subject to the conditions that withdrawal shall be allowed after the account holder attains the age of eighteen years or has passed tenth standard, whichever is earlier.
(2). The application for withdrawal shall be accompanied by documentary proof in the form of a confirmed offer of admission of the account holder in an educational institution or a fee-slip from such institution indicating such financial requirement.
(3). The withdrawal under sub-paragraph (1) may be made in one lump sum or in instalments, not exceeding one per year, for a maximum offive years, subject to the ceiling specified in sub-paragraph (1): Provided that the amount of withdrawal shall be restricted to the actual requirement on account of fee and other charges required at the time of admission as shown in the offer of admission or the relevant fee-slip issued by the educational institution.
4. Since there was no provision in Finacle for withdrawal from SSA account, it was prescribed in Rule 126 (2) (v) of POSB CBS Manual (Corrected up to 3 1.12.2021) that till the provision is made for withdrawal from SSA Account, if any request for withdrawal is received, it will be handled manually by raising the ticket with CEPT.
5. The functionality for withdrawal from SSA account has been deployed in Finacle on 20.02.2023. Accordingly, procedure in the Rule 126 (2) (v) of POSB CBS Manual (Corrected tp to 31.12.2021) is amended as follows.
(i). Counter PA has to collect the Application for Withdrawal along with the
documentary proof as prescribed in the relevant rules and scrutinize the application for
withdrawal as prescribed for withdrawal from savings account.
Note 1: The amount shall be paid either in cash (up to { 20,000i-) or through cheque or through transfer to Post Office Savings Account ofthe depositor or the guardian.
Note 2: If the depositor attained the majority, the withdrawal may be given through cheque / PO Savings account of the depositor or guardian and if the depositor is minor, withdrawal may be given through cheque or transfer to PO Savings account ofthe guardian.
- Counter PA in Finacle
- Shall invoke CPWTM menu
- Select Cash / Transfer option, as applicable.
- Select Normal Withdraw
- Click on GO
- Enter SSA account in Account Number (Dr.) field. ; Iftransaction type is Transfer,
- enter 0340 (for cheque) / POSA account of depositor or guardian, in Account
- Number (Cr.) field;
- Enter amount of withdrawal
- Select'Reason for Withdrawal'- l0s Pass / Attained age of 18 years
- Enter the FEES amount.
- Select 'Documents Received' option ifreason is 1Oth Pass.
- Enter PAN number if amount of withdrawal is more than < 50,000/-
- Click on SUBMIT
(iii). Counter PA shall note down the TRAN ID on the withdrawal form and transfer the application for withdrawal along with the documentary proof for verification by the Supervisor.
(iv). Supervisor shall verify the documents, eligibility for withdrawal and transaction in
Finacle by using CPWTM menu.
Note: Counter PA and Supervisor should ensure that no wrong withdrawal transaction is performed in Finacle. If any wrong withdrawal transaction is performed, it should be ensured that withdrawal transaction is posted, verified and not deleted. After verification in CPWTM by Supervisor, Post Office by using the CPDTM menu may reverse the wrong withdrawal in SSA account. Further, it should be ensured that partial amount is not reversed through CPDTM and the exact amount of withdrawal should be reversed using report code REVRS.
4. This may be circulated to all the Offices for information and necessary actions
5. This is issued with the approval of competent authority.
എസ്. ബി. ഓർഡർ 02/2023 പ്രകാരം എസ്.എസ്.എ യിൽ നിന്ന് പണം പിൻവലിക്കുന്നതിന് പുതിയ നിയമങ്ങൾ പ്രാബല്യത്തിൽ വന്നു.▬▬●▬▬ @PostalKerala ▬▬●▬▬🍁 കുട്ടിയുടെ വിദ്യാഭ്യാസ ആവശ്യങ്ങൾക്കായി, 10 ആം ക്ലാസിനു ശേഷമോ, 18 വയസ് പൂർത്തിയാകുന്ന സമയമോ, എതാണ് ആദ്യം വരുന്നത് ആ സാഹചര്യത്തിൽ 50% വരെ തുക പിൻവലിക്കാം.🍁 തൊട്ടു മുൻപത്തെ സാമ്പത്തിക വർഷത്തെ മൊത്തം തുകയുടെ 50% വരെ ആണ് പിൻവലിക്കാൻ കഴിയുന്നത്. ഈ തുക വിദ്യാഭ്യാസ ആവശ്യങ്ങൾക്കായി മാത്രമേ ഉപയോഗിക്കാൻ കഴിയൂ.🍁 10 ആം ക്ലാസിനു ശേഷം തുടർ പഠനത്തിന് പോകുന്ന സ്ഥാപനത്തിൽ നിന്ന് ലഭിക്കുന്ന ഫീ റെസിപ്റ് അടിസ്ഥാനത്തിൽ അത്രയും തുകയാണ് അനുവദിച്ചു നൽകുക. ഒറ്റ തവണയായോ, ഗഡുക്കളയോ പണം കൈപ്പറ്റാൻ കഴിയും. 20000 ൽ താഴെയുള്ള തുക നേരിട്ടും, കൂടുതൽ ആണെങ്കിൽ കുട്ടിയുടെയോ, രക്ഷിതാവിന്റെയോ POSB അക്കൗണ്ട് ലേക്ക് പണം നിക്ഷേപിക്കും. ചെക്ക് ആയും കൈപ്പറ്റാൻ കഴിയും.💥 അക്കൗണ്ടിൽ 1 ലക്ഷം രൂപ ഉണ്ട്, ഫീസ് 20,000 ആണെങ്കിൽ അതു മാത്രമേ എടുക്കാൻ കഴിയൂ, അതും കൃത്യമായ ഫീസ് അടച്ച receipt ന്റെ അടിസ്ഥാനത്തിൽ. മാക്സിമം 50,000 അഥവാ 50% എടുക്കാൻ പറ്റും.
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