Wednesday 21 March 2012

NSS-92 CONTROL PROCEDURE

NATIONAL SAVINGS SCHEME, 1992 CONTROL PROCEDURE

 79. The S.B. Control Organisation will follow the procedure prescribed for the scheme of National Savings Scheme, 1987 as laid down in Chapter 6. The procedure is reiterated below. The scheme has been discontinued w.e.f. 1.11.2002.

(1) The scheme will be operated at Head Post Office or Sub Post Office which is authorised to open an account under the scheme by the Head of the Circle/Regional Postmaster General.

(2) The SBCO will follow the procedure for savings accounts with the following changes :-

(i) The registers SB-62-, SB-62(a) and SB-63 will be maintained for the new scheme.

(ii) General check of vouchers and checking of vouchers with reference to entries in the ledgers :- The vouchers both receipts and payments will be checked to the following extent :-

(i) All warrants of payment in respect of withdrawals exceeding Rs. 5000/- at the head and sub offices.

(ii) Warrants of payment of 20% of closed accounts of heavy amounts.

(iii) 4% of deposit transactions.

Note :- The checks will apply uniformly to accounts maintained either manually or on computers.

[D.G Posts letter No. 5-2/99-SB dated 5.3.2003]

(iii) Checking of annual interest:- The annual interest calculation will be checked in respect of 20% of the accounts where calculations are done manually and 5% of the accounts where calculations are done on computers.

[D.G Posts letter No. 5-2/99-SB dated 5.3.2003]

(iv) A separate statistical register will be maintained for the new scheme.

(v) The agreement of binders of the new scheme will be done on six monthly basis like Savings Accounts.

(vi) The norms for checking of annual interest by the SBCO for OTA purpose will be the same as are applicable to savings accounts.

[D.G Posts letter No. 35-26/92-SB dated 18.9.1992]

(3) Fixation of norms for calculation, posting and checking of annual interest in NSS, accounts :- See Para 77 of National Savings Scheme, 1987 of Chapter 6. These norms will also apply to N.S.S. 1992, accounts.
































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