Clarification regarding Procurement of APY at Branch Office

Date : 13.06.2016

Clarification regarding Procurement of APY at Branch Office

Clarify the accepting APY for the account standing at Branch Offices account with CBS SOs for which NLCC registration has been done.

As of now, Accounts standing at BOs attached to CBS HOs and SOs should not be accepted for APY.

Refer the SOP of APY Available in the below link
See Also :Standard Operating Procedure for APY

Extract from SOP for the above clarification:

2.         Activities to be carried out at authorized CBS Post Offices.

 2.1       CBS Post Offices are being registered as NLCC for accepting subscription to APY. In first phase, all CBS HOs are being registered and list of CBS HOs with their NLCC number has already been sent to circles over mail from Director CBS. This will be extended to CBS SOs and then BOs under CBS Hos and SOs in a phased manner. Therefore, any Savings Account standing at any CBS SO or HO will be eligible for subscribing in APY but registration can be accepted only at authorized CBS HOs having NLCC number. For the time being, Accounts standing at BOs attached to CBS HOs and SOs should not be accepted for APY. SOP for handling Accounts standing at BOs attached to CBS SOs and HOs will be circulated separately.

 2.10     CPA has to ensure that account stands in any CBS Post Office i.e SO or HO (not in BOs attached to CBS SO or HO) and fill the following fields from the Subscription Registration Form as shown below:-

Subsequently, instruction has been received for accepting APY for the account standing at CBS SOs for which NLCC registration has been done.