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Do’ and Don’ts for agents

 order to have effective interface with the investors, agents and organisations involved in mobilization of savings, NSI has framed ‘Do’s & Don’ts’ for SAS/MPKBY/PPF/ agents & Investors which are as given below:-

Do’s & Don’ts for Mahila Pradhan Kshetriya Bachat Yojana Agents

Do’s -

  • Deposit the Investor’s money in the Post Office immediately (within 5 days from the date of receipt of money from the investor
  • It is mandatory to issue counterfoil of the ASLAAS - 5 card duly filled and signed, to the investor in token of having received the money. While collecting the pass book from the Post Office, verify that entries are made properly in the pass book, proper stamps are affixed and signed by the Post Master
  • Hand over the pass book to the investor within 10 days and obtain the acknowledgement of the investor on the counterfoil of ASLAAS - 5 card
  • Maintain register of your investor to facilitate prompt maturity payment to the investor for getting reinvestment
  • For redressing your grievances contact to the officer authorised by the Regional Director / Department of Posts / State Govt.
  • Deposit the  money collected from the investor in the Post Office personally
  • Submit concerned papers to the Appointing Authority for renewal of agency well in advance i.e. 45 days before the date of expiry of the agency
  • Attend training/meeting whenever organised by National Savings Institute / Appointing Authority
  • Preserve and maintain the counterfoils (agent’s copy of ASLAAS - 5) carefully
  • Present the counterfoils (ASLAAS - 5) to the supervisory officer whenever called for verification

 

 

 

  • Ensure filling up of the nomination form while applying for agency
  • In the event of loss of Certificate of Authority, intimate the Post Office concerned, Regional Director, National Savings Institute, local Police and Appointing Authority. Also notify the loss of Certificate of Authority, at least in one local newspaper of your area
  • Request the investor to keep his/her pass book and ASLAAS - 5 card in safe custody and in good condition
  • Request the investor to mention name of the nominee invariably in the application form at the time of opening  5 years Post Office Recurring Deposit account

 

 

Don’ts -

  • Do not remain present in or around the Post Office to canvass your business
  • Do not use Investor’s money for your personal benefit
  • Do not retain investor’s money with you for more than 5 days
  • Do not send your representative to deposit money in the Post Office
  • Do not handle cash more than Rs.5000  / Rs.10,000 (as per your authorized cash handling limit) at a time
  • Do not accept money for investment in any other small savings scheme except 5 year Post Office Recurring Deposit for which you are authorized
  • Do not affix the specimen signature of the depositor on the Pass book or counterfoil of ASLAAS-5 Card
  • Do not take the specimen signature of the depositor on the register maintained by you

 

 

     

 

Do’s and Don’ts for Standardised Agency System agents

Do’s -

  • In the  interest of the investor, agent and  Govt, please encourage the investors to deposit money only through an account payee cheque drawn in favour of Branch Manager/Post Master of the Bank/Post Office
  • Mention on the back side of the cheque the name of  investor and name of the security in which investment is to be made
  • Deposit investor’s money in the Post Office within 10 days from the date of receipt of money from the investor
  • Ensure issue of receipt to the investor duly dated and signed by you at the time of receiving money / cheque from the investor
  • Hand over the pass book / certificate to the investor, within 30 days from the date of receipt of money
  • While collecting the Pass Book / certificate from the Post Office / Bank, verify  entries in the Pass Book / certificate in accordance with the application form filled in by the investor, duly stamped and signed by the Post Master / Branch Manager
  • Maintain investor-wise folio’s  i.e. Investor’s Profile in a register to facilitate the investor for getting timely maturity payment and help the investor for  reinvestment
  • For redressal of your grievances, contact the Regional Director, National Savings Institute / Branch Manager / District collector / Post Master / Director of the concerned State Government
  • Submit concerned papers to the Appointing Authority for renewal of agency well in advance i.e. 45 days before the date of expiry of the agency
  • Attend training/meeting whenever organised by National Savings Institute / Appointing Authority
  • Preserve the counterfoil of the Authorised Agent’s Receipt Book till maturity of the investment

 

 

                          

  • Present the counterfoils of Authorised Agent’s Receipt Book before the supervisory officer whenever called for verification
  • In the event of loss of Certificate of Authority / Authorised Agent’s Receipt Book, intimate the Post Office concerned, Regional Director, National Savings Institute, local Police and Appointing Authority. Also notify the loss of Certificate of Authority at least in one local newspaper of your area
  • Request the investor to mention name of the nominee invariably at the time of opening of account / purchase of certificate
  • Please mention invariably the R.B. Nos. on the body of ACG-17 (Commission Claim For) while claiming the commission at source from the Post Offices.  This is mandatory.
  •  

Dont’s -

  • Don’t canvass business within the premises of the Post Office / Bank
  • Don’t utilise investor’s money for your personal use
  • Don’t retain the investor’s money with you for more than 10 days
  • Don’t send your representative unless authorized by the appointing authority  for depositing the investor’s money in the Post Office / Bank
  • Don’t handle cash for more than the prescribed limit (i.e. Rs. 10,000 at a time)
  • Don’t accept money for investment in any small savings scheme for which you are not authorised

     

 
 
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National Savings Institute, Ministry of Finance (DEA) Govt. of India First Floor,ICCW Building.4,Deen Dayal Upadhayaya Marg,New Delhi-110002.
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