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Good News: Department of Posts has given big relief to senior citizens, now money can be withdrawn through authorized person

The postal department has given great relief to senior citizens.




Keeping in view the age of senior citizens and various types of diseases, the Department of Posts has announced to start account operation and withdrawal facility through an authorized person. According to the circular issued by the Department of Posts, the authorized person will be allowed to operate accounts opened in the post office, including withdrawal, loan closure and premature closure of accounts etc. It is worth noting that there was no such system till now.Also Read:PM Gati Shakti Yojana: Announcement of 100 lakh crore plan of PM Gati Shakti Yojana, what will be the benefit to the youth

Under the arrangement till now, senior citizens also have to visit the post office for account transactions, account closure, premature withdrawal etc. The Department of Posts has announced this change in the circular issued on August 4. The Department of Posts says that for a long time they were getting applications from senior citizens that they are finding themselves unable to come to the post office due to increasing age and various diseases.

In such a situation, they should be given the facility to authorize any person who can complete the work for them including withdrawal of money. In view of this, the Department of Posts, in collaboration with the Ministry of Finance, has made changes in the provisions of Rule 11 of the Government Savings Promotion General Rules-2018.Also Read:Ola Electric S1, S1 Pro launched: Check bike delivery dates, EMI options here.

Authorization process

A person authorized by senior citizens will be able to do the work of transacting in the post office account, taking loan, closing the account or premature closure of the account. However, in order to authorize a person, there are certain procedures to be followed by senior citizens.Also Read: IRCTC gifts Rakshabandhan to women train passengers! Special cashback offer starts from today, check details

Step 1: For this, the account holder has to first fill the SB-12 form. This form is available at any post office branch. Through this form, the account holder will allow withdrawal, loan, closure or premature etc. from his account. If the account is joint then its authorized person will have to get the signature attested.

Step 2: The account holder has to fill the correct form. For example, Form SB-7 for cash withdrawal and Form SB-7B for account closure will have to be filled. Self attested photo ID and address proof etc. of the account holder and the person to be authorized will have to be provided. SB-12 form has to be filled for every transaction.Also Read: Here is the step by step process to link Aadhaar with PF account, the last date is August 31




Step 3: The authorized person will have to submit the passbook and this form. Apart from this, they will also have to submit KYC documents along with the transaction form (SB-7/SB-7B etc.)

Step 4: After this, the authorized post office staff will match the signature of the account holder available in their system. After that it will be approved by the supervisor. Only after that the payment will be released.Also Read:BSNL’s very cheap recharge plan, offers unlimited calling and data

keep these things in mind

Payment will be sent to Cheque/Credit/Post Office Savings Account or Bank Account. For withdrawal in savings account, payment will be made in cash only. You must also note that the authorized person will neither be an employee or an agent of the post office branch.

Parvesh Maurya
Parvesh Maurya
Parvesh Maurya, has 5 years of experience in writing Finance Content, Entertainment news, Cricket and more. He has done BA in English. He loves to Play Sports and read books in free time. In case of any complain or feedback, please contact me @ informalnewz@gmail.com
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