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Technical Section

Technical Section. SB/SC Claim settlement. Basics for claims. On death of depositor/investor Settled on the basis of the following Nomination Legal Evidence Other (No nomn, no legal evidence up to balance of Rs.1 lac)

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Technical Section

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  1. Technical Section

  2. SB/SC Claim settlement

  3. Basics for claims • On death of depositor/investor • Settled on the basis of the following • Nomination • Legal Evidence • Other (No nomn, no legal evidence up to balance of Rs.1 lac) • Ascertain full information of holdings from the claimant and group it into eight groups as shown in the next slide.

  4. HOLDINGS SB/RD/TD/ MIS/NSS PPF SCSS NSC/KVP WITH NOMN W/O NOMN WITH NOMN W/O NOMN WITH NOMN W/O NOMN WITH NOMN W/O NOMN Grouping of total holdings

  5. Basics for claims… • Grouping of total holding is needed to decide the following three issues • Claim application • Necessity of legal evidence • Claim sanctioning authority

  6. Basics for claim… Legal Evidence Probate of will Succession Certificate Letter of administration

  7. Basics for claims • Cases on the basis of Nomination and Legal evidence will be sanctioned by SPMs/PMs/Divisional Head. • Only cases where no nomination and no legal evidence (other category) exceeding the limit of Divisional Head will be received in CO/RO. The sanctioning limit is shown in the next slide.

  8. Sanctioning limit

  9. For the purpose of limit: • Savings Account: The amount as on the date of death of the depositor including interest up to previous financial year. • Savings Certificate: The amount as on the date of death of the holder including interest for completed years or half year

  10. Basics for claims • The claim will be submitted in the following prescribed forms by the claimant. • Savings Certificate NC – 16 • Savings Account SB – 30 • Ensure that all the following documents are received with the application form. • Certificates/Pass books • Death certificate (s) • Letter of Indemnity (Annexure I) • Affidavit (Annexure II) • Letter of disclaimer on affidavit (Annexure III)

  11. Basics for claims • Annexure I • Given by all the legal heirs with two sureties • In the presence of two witnesses • Attested by Notary Public • Annexure – II • Given by all the heirs • Attested by Oath Commissioner or by Notary Public • Annexure – III • Given by all the disclaimers • Attested by Oath Commissioner or by Notary Public

  12. Sanction • Claim case register to be maintained in the prescribed format • Entry of claims should be entered immediately on receipt in the register. • Issue sanction within Seven working days from the date of receipt • Responsibility will be fixed for delay in settlement beyond 7 working days • Send by Service Insured Post. • Note date of payment in the claim register

  13. Exercise – 1

  14. Registered News Paper • License granted by Divisional Head for those publication which are published Daily,Weekly,Fortnightly and Monthly which have their title registered with RNI-New Delhi • It should have a bonafide list of subscribers. • Initial license valid for 3 years and renewal in the month of November, if not with penalty Rs.50.

  15. Newspaper should carry word “Registered” followed by the Registration number on the first or last page in the following fashion. • KA/SK/CKM/656/2010-12 • CKM/680/2010-12 (w.e.f 5.5.2008) • It is to be posted at the place & time specified in the license.

  16. It is posted with a wrapper which can be opened for inspection or without a wrapper. If it is a bundle, it should contain only copies of same newspaper, same date and same addressee and is addressed to local Agent of the newspaper.

  17. The postage is to be prepaid and, if authorized can be posted without prepayment(WPP) also . License for WPP is given by Regional Office/Circle Office. To avail the facility of WPP, more than 500 copies are to be posted. Amount equal to postage of one month posting to be credited in advance.

  18. The WPP license number should be printed on the first or last page of the RNP along with RNI and Postal Registration numbers. If licensed to post without prepayment of postage ,copies are handed over at the counter with invoice in duplicate.

  19. Original copy retained by office of posting. • Duplicate copy returned to sender duly stamped. • Bill adjusted on 16th and 1st and amount should be paid within seven days by the licensee.

  20. Exercise – 2

  21. Meeting and Minutes Preparation for conducting quarterly Circle Management Committee (CMC)/Regional Management Committee meeting. Circulation of Minutes to all concerned. Receipt of Agenda for notified Union Meetings & circulation of Minutes, watching complience Preparation for All Official Functions.

  22. Miscellaneous work in Technical section Maintaining ruling files of Savings Bank and Savings Certificate branches Dealings and giving clarification on query in respect of SB/SC. Maintaining ruling files and dealing on miscellaneous topics attached to your section. Providing connectivity to officers and it’s monitoring.

  23. Thank you

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