Presence of the depositor at the time of opening of account in Post Office

Presence of the depositor at the time of opening of account in Post Office

Account Opening Requirements

The following requirements must be met when opening an account:

1. Depositor Presence: The depositor's presence is mandatory, unless the account is opened through an agent, in which case their presence is optional.

2. Agent Attestation: If an agent is used, they must attest all documents.

3. PO Staff Attestation: If post office staff (GDS, Postman) collect the Account Opening Form (AOF) and Know Your Customer (KYC) documents during drives or melas, the depositor's presence is not required. However, the staff member who collected the documents must attest them.

Verification Requirements

Post office staff must verify the following:

1. Address Matching: The address on the account opening form or purchase application must match the address proof document.

2. Name Verification: The depositor's name on the account opening form or purchase application must match the identity proof document.

3. KYC Compliance: All submitted KYC documents must comply with risk categorization and be self-attested. For illiterate customers, documents must be attested by a gazetted officer, sarpanch of the gram panchayat, postal staff, or a gramin dak sevak.

Reference : SB Order 35/2021 point number 7 Presence of depositor at the time of account opening in post office

SB Order 31/2024 dated 05/11/2021

7). Presence of the depositor at the time of opening of account

As per Rule 4 of GSPR 2018, only Resident citizen of India is eligible to open an account under National (Small) Savings Schemes and as per Rule 5 of GSPR 2018, 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.

It is clarified that

i. In case an account is opened at the post office, presence of the depositor is mandatory at the time of opening of account.

ii. In case an account is opened by guardian on behalf of minor or on behalf of a person of unsound mind, presence of guardian is mandatory.

iii. Whenever any account under the schemes identified for opening through Authorized Agents (SAS & MPKBY) is opened through Authorized Agents (SAS & MPKBY), presence of the depositor is optional.

iv. Further, if the account opening forms and KYC documents are collected by the Post Office staff and the depositor's signature is obtained in front of any authorized officials during the POSB account opening drives/melas/doorstep canvassing etc, presence of such depositor is not mandatory.