National Savings Certificate can be purchased in the name of a minor

National Savings Certificate can be purchased in the name of a minor

Department of Posts has clarified that National Savings Certificate can be Purchased by an adult in the name of a minor irrespective any relation.

No.61-03/2012-SB

Government of India

Ministry of Communications & IT

Department of Posts

Dak Bhawan, Sansad Marg,

New Delhi – 110 001,

Dated : 16.11.2012

To

All Heads Circles,

Addl. Director General, APS, New Delhi.

Subject : Purchase of National Savings Certificates by an adult on behalf of a minor a clarification regarding.

 

Sir/Madam,

The undersigned is directed to say that this office has received a complaint through Secretary (Coord & PG), Cabinet Secretariat, Rashtrapati Bhawan, New Delhi regarding refusal of issue of NSC in the name of Grand Daughter (minor) to one Sh.S.P.Jain by Palam Vihar PO as well as SSPOs gurgaon (Haryana).

2. It is clarified that as per Rule 4(2)a of NSC-VIII issue and IX issue rules, a single holder type certificates may be issued to an adult for himself or on behalf of a minor or to a minor. Therefore, it is clarified that NSCs can be purchased by any adult in the name of a minor irrespective of any relation.

3. It is requested that all this may be circulated to all Post Offices for information and necessary guidance so that complaints of this nature may be avoided.

4. This issues with the approval of DDG(FS).

Download clarification dated 16.11.2012 issued by Department of Posts

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