SB Order 02/2025 - Implementation of 40% Withdrawal functionality for MSSC Scheme in DOP Finacle

SB Order No. 02/2025

No-CBS-25/4/2023-FS-DOP

Government of India Ministry of Communications 

Department of Posts 

(Financial Services Division)

Dak Bhawan, New Delhi - 110001 

Dated: 17.03.2025

To

All Head of Circles / Regions

Subject : Implementation of 40% Withdrawal Functionality for MSSC Scheme in Finacle - Reg.

Madam / Sir,

Kindly refer to SB Order 5/2023 dated 31.03.2023, which circulated the rules pertaining to the Mahila Samman Savings Certificate (MSSC) Scheme.

2.As stipulated in Rule 7 of the MSSC Scheme, 2023, "The account holder shall be eligible to withdraw a maximum of up to forty percent of the Eligible Balance, once, after the completion of one year from the account opening date, and prior to the account's maturity."

3. In accordance with Rule 7 of the MSSC Scheme, 2023, a functionality enabling the 40% withdrawal from MSSC accounts has been deployed in Finacle, effective from 07.03.2025.

4. A Standard Operating Procedure (SOP) detailing the withdrawal process within Finacle is attached as Annexure for reference.

5. It is requested to circulate the SOP to all concerned for information, guidance and necessary action. (SOP in SB Order 02/2025 - DOP Letter No-CBS-25/4/2023-FS-DOP dated 17/03/2025)

6.This issues with the approval of the Competent Authority.

Encl: As Above

Yours faithfully,

(Devender Kumar Sharma) Assistant Director (SB-II)

Copy to: -

1. Sr. PPS to Secretary (Posts)

2. PS to Director General Postal Services.

3. PPS/ PS to Addl. DG (Co-ordination)/Member (Banking)/Member (O)/Member (P)/ Member (Planning & HRD)/Member (PLI)/Member (Tech)/AS & FA.

4. Addl. Director General, APS, New Delhi.

5. Chief General Manager, BD Directorate / Parcel Directorate / PLI Directorate. 

6. Sr. Deputy Director General (Vig) & CVO) / Sr. Deputy Director General (PAF). 

7. Director, RAKNPA/ Directors of all PTCs.

8. Director General P & T (Audit), Civil Lines, New Delhi.

9. Secretary, Postal Services Board / All Deputy Directors General.

10. All General Managers (Finance) / Directors Postal Accounts / DDAP.

11. The Under Secretary, MOF (DEA), NS-II Section, North Block, New Delhi.

12. The Joint Director & HOD, National Savings Institute, ICCW Building, 4 Deendayal Upadhyay Marg, New Delhi-110002.

13. All recognized Federations / Unions / Associations

14. ADG (OL) for information and Hindi Translation of SB Order.

15. GM, CEPT for information and uploading this order on India Post Website. 

16. Guard File/e-File.

(Devender Kumar Sharma) 

Assistant Director (SB-II)

 

Download SOP on MSSC 40% withdrawal functionality in Finacle