Do and Don't for Investors while Investing through Agent
An account for any of the National Small Savings Schemes can be opened and money can be deposited by himself/herself by visiting the Post Office/Bank Branch in person.
Facility of making online deposit is also available for certain schemes in Banks such as E-Kisan Vikas Patra, Public Provident Fund and Sukanya Samridhi Account.
In case one decides to avail the services of Authorised Agents, the following is the advice:
- Establish identity of Authorised Agents by checking his Certificate of Authority and date of validity of the agency
- Fill in the application form yourself. However, help/guidance of the agent may be availed
- Always insist for Authorised Receipt duly completed by the agent while handing over money/instruments and documents to the agent for opening an account or making deposit. These receipt books are supplied by Government to the agents (Authorised Agents Receipt Books and ASLAAS – 5 cards for MPBKY agents)
- Preserve counterfoils of the ASLAAS 5 cards till maturity of the account
- If an agent declines or avoids issue of receipt book/ASLAAS card, do not entertain him/her and report the matter to the Postal/District Authorities.
- Ensure receipt of passbook from the agent within 10 days from the date of investment. In case of non-receipt of passbook from the agent within 10 days from the date of Investment, lodge a complaint with either Appointing Authority; Regional Director, National Savings Institute; Concerned Post Master.
- Invariably verify the correctness of the amount, date, stamp, signature etc. mentioned in the Passbook from the concerned Post Office from time to time
- Do not hand over the cash to any unauthorised person or issue a cheque in favour of an agent
- For investment over and above ₹10,000; issue only an account payee cheque drawn in favour of concerned Post Master
- Do not fill/sign the withdrawal form before maturity
Source : https://www.nsiindia.gov.in/
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