SB/SC CLAIM SANCTIONING AUTHORITIES AND THEIR LIMITS AS ON 06.11.2020 (SB Order 36/2020) - Ready Reckoner

 POSB and POSC- Saving Bank and Savings Certificate Limits - Ready Reckoner as per SB Order 36/2020

Note:

*** If claim (no nomination/ No legal evidence) belongs to Sub Post Offices, MDG/HO/GPO (except HSG-I& HSG II offices if supported by legal evidence) is beyond the sanction limit of respective SPMs/PMs, the claim will be forwarded to the Divisional Head concerned after Verifying all particulars and respective Divisional Heads will issue sanction for such claims within limit prescribed and in case the same is above the limit of Divisional Head, the claim will be forwarded to the concerned sanctioning authority ***

Claim supported by Nomination Registered cases The Postmasters of all Sub Offices/Head Office can sanction the claim of an Account/certificate where nomination is in force and registered in respective Post Office, irrespective of any limit in all National (Small) Savings Schemes.

AII claims in respect of discontinued schemes will be sanctioned at respective Head Post Office. The concerned SPM will send claim form along with document to the concerned Head Post Office.

Claim supported by No Nomination cases 

The power for sanctioning claims beyond Rs.10, 000 will be exercised personally by the Officers mentioned against items (ii) to (iii) of the Table.

If claim belongs to Sub Post Offices, MDG/HO is beyond the sanction limit of respective SPMs/PMs, the claim will be forwarded to the Divisional Head concerned after Verifying all particulars and respective Divisional Heads will issue sanction for such claims within limit prescribed. (Above 100000/- and up to 500000/-)

The claim supported by legal evidence/ no nomination for account/certificate standing at Time Scale,/LSG Sub Post offices, the respective SPMs can sanction claim up to the limit prescribed (up to 50000/-).

Claim supported by Legal Evidence cases 

The claim supported by legal evidence and where no nomination exists for account/certificate standing at Time Scale/LSG sub post offices beyond the sanction limit of respective SPMs,(Above 50000/-) those claims will be forwarded to the Divisional Head after verifying all particulars of claim and Divisional Head will issue sanction for such claims irrespective of any limit.

The claim supported by legal evidence for account/certificate standing at HSG-I and HSG II Sub Post Offices MDGs/HO/GPO, the respective SPMs/PMs/Sr.PM/CPM/Director can sanction claim irrespective of any limit in such cases.

All claim submitted in respect of discontinued schemes will be sanctioned at respective HPO/GPO. The concerned SPM will send the claim form along with the documents to the concerned HO/GPO.

Note: - 1. To ascertain limit for sanction of claim the status of the Post Office/ Office should be taken into account.

2.If the eligible amount in a deceased account is above Rs. 5 lakh where no nomination or legal evidence available, the amount shall be paid to the claimant on submission of Succession Certificate' issued by the court.

3. The Post office where the account stands, on receipt of the claim either directly or by Insured Post will issue acknowledgment to the claimant on the same day. The claim case is to be settled within I (one) working day when nomination exists and within 7 working days in other cases. If the claim falls under its financial powers of the post office. If the claim case falls above the financial powers, it shall be forwarded to the sanctioning authority by service insured Post on the day of its receipt.

4. Divisional office will dispose the claim case within 7 working days of the receipt of the same.

5. This SB order is applicable to CBS/non-CBS Post Offices. In case where claims are not yet submitted or claims are already submitted but not yet sanctioned, these revised provisions should be made applicable.

For Interest Eligibility:-