SB Order 22 2023 29112023

SBO rder No.
2212023
F. No 113-03/2017-SB(Pt.r)
Govemment of India
Ministry of Comrnunications
Department of Posts
(Financial Services Division)
Dak Bhawan, New Delhi - 110001

Dated: 29 .11.2023
Corrigendum / Clarification
To
All Head of Circles / Regions
Subiect: Circulation of amendments in Senior Citizen's Savings Scheme, 2023,

National Savings Time Deposit Scheme, 2019 and Public Provident Fund
Scheme, 2019- Re
Madam / Sir,
This has the reference to the SB Order No. 22/2023 dated 14.11.2023 issued in
connection with the amendments in Senior Citizen's Savings Scheme, 2023, National Savings
Time Deposit Scheme, 2019 and Public Provident Fund Scheme,2019.
Corrigendum
In the said order, in point (2) of the table in para 4 related to Senior Citizen's Savings
Scheme, '/ifty-five years 'may be read as 'fifty years'.
Clarification
This office was in receipt of many references regarding applicability ofrules amended
in connection with the premature closure of 5-year TD accounts which have already been
opened before issue of notification G.S.R.830(E) dated 07.11.2023.
2. Hence, clarifications were sought from Department of Economic Affairs (DEA),

Ministry of Finance (MoF) regarding applicability of amended rules. DEA, MoF in OM No.
l/4/2023-NS(Pt.) dated 28.11.2023 clarified that the amendments related to SCSS and PPF
will be applicable to both existing account holders and new account holders, whereas, the
amendments in National Savings Time Deposit Scheme will be applicable only to new
account holders.
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3. Accordingly, it is clarified that all the existing SCSS accounts can be extended in
accordance with the provisions in the amendment issued vide notihcation G.S.R.829(E) dated
07 .11.2023 and the existing 5-year TD accounts which have been opened before 10.1 I .2023
can be prematurely closed after six months in accordance with the rules under which they
have been opened. However, 5-year TD accounts opened on or after 10.11.2023 can be
prematurely closed in accordance with the amendments issued vide notihcation G.S.R.830(E)
dated 07.11.2023.
4. A copy of DEA, MoF's OM No. l/4/2023-NS(Pt.) dated 28.11.2023 is attached

herewith for reference.
5. It is requested to circulate it to all concemed for information, guidance, and necessary

actions.
6. This is issued with the approval of the Competent Authority.
Encl: As Above.
ours faithfully
(r AYAN)
Assistant rector (sB-r)
Copv to: -
1. Sr. PPS to Secretary (Posts)

2. PS to Director General Postal Services.
3. PPS/ PS to Addl. DG (Co-ordination)/Mernber (Banking)/Member (O),Member (P)/
Member (Planning & HRD),4\{ember (PLI)/Member (Tech)/AS & FA
4. Addl. Director General, APS, New Delhi
5. Chief General Manager, BD Directorate / Parcel Directorate / PLI Directorate / CEPT
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. AllGeneral 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
1 3. All recognized Federations / lJnions / Associations
14. Deputy Director (OL) for information and Hindi Translation of SB O

15. Guard File/e-File.
AYAN)
Assistant Director (SB-I)
PaEe 2 of 2
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F. No. 1/4/2023-NS(PI.)
Government of India
Ministry of F-inance
Department of Economic Affairs
(Budget Division)
North Block, New Delhi

Date: 28th November, 2023
OFFICE MEMORANDUM
subject: clarification on applicability of amended rules - reg.
Please refer to DOP ID No. 113-03/2017-SB(PI.1) dated 24.11.2029 on the

subject cited above. This Department has issueci a notification clatecl 07.11.2023 with
respect to amendments in SCSS, PI']F and NS'[D schemes. In this regarcl, it is clarifiecl
that the amendments in SCSS and PPF will be applicable to both existing account
holders and to new account holders, whereas, the amendments in National Savings
Time Deposit scheme will be applicable only to new account holders.
2. This has the approval of the competent authority.
\q;utr/
(Parveen |ain)
Assistant Director (Budget)
Tele. No. 011-23095155
To
The Assistant Director (SB-1)

FS Division
Department of Posts
Ministry of Communications
Dak Bhawan, New Delhi
Copy to:-
The )oint Director, National Savings Institute, New Delhi for circulation to all the
agency banks.
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SB Order 22 2023 29112023

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SB Order 22 2023 29112023

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SBO rder No.

Dak Bhawan, New Delhi - 110001

All Head of Circles / Regions

Subiect: Circulation of amendments in Senior Citizen's Savings Scheme, 2023,

2. Hence, clarifications were sought from Department of Economic Affairs (DEA),

4. A copy of DEA, MoF's OM No. l/4/2023-NS(Pt.) dated 28.11.2023 is attached

5. It is requested to circulate it to all concemed for information, guidance, and necessary

6. This is issued with the approval of the Competent Authority.

1. Sr. PPS to Secretary (Posts)

14. Deputy Director (OL) for information and Hindi Translation of SB O

North Block, New Delhi

subject: clarification on applicability of amended rules - reg.

Please refer to DOP ID No. 113-03/2017-SB(PI.1) dated 24.11.2029 on the

2. This has the approval of the competent authority.

The Assistant Director (SB-1)

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