Wednesday, October 5, 2011

NO limits for Savings A/c's

SB ORDER NO. 20/2011 

No. F.No.113-23/2005-SB
Government of India 
Ministry of Communications & IT 
Department of Posts 
Dak Bhawan, Sansad Marg, 
New Delhi-110001,
Dated: 27.09.2011 

To All Heads of Circles/Regions Addl. Director General, APS, New Delhi. 

Subject:- Removal of ceiling of maximum balance to be retained in a post office savings account- amendment to Rule-4 of the Post Office Savings Account Rules 1981 regarding. 

Sir / Madam, 

The undersigned is directed to say that issue of removal of ceiling of Rs.1 lac in single savings account and Rs.2 Lac in Joint Savings Account fixed in the year 2000 was under consideration in the Min. of Finance (DEA). This issue was linked to the benefit of exemption