SB Order 08/2023 : Regarding circulation of Government Savings Promotion General (Amendment) Rules, 2023

It is reiterated that Department of Economic Affairs (DEA), Ministry of Finance has issued guidelines where PAN is to be taken compulsorily. Accordingly, PAN is mandatory on the date of happening of any of the following events.

  1. The balance at any point of time in the account exceeds fifty thousand rupees or
  2. The aggregate of all credits in the account in any financial year exceeds one lakh rupees; or
  3. The aggregate of all withdrawals and transfers in a month from the account exceeds ten thousand rupees,

In such cases where the above said conditions are not applicable, the customers are not to be insisted for submission of PAN as mention in SB Oder 08/2023.
It is requested to ensure that aforementioned orders of DEA, MoF are strictly followed in all the post offices.

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