Instructions to be communicated
regarding the wedding expenses withdrawal are given below for
circulation as directed
For wedding expenses, the Government
has allowed withdrawal limit as Rs.250000-. A patch for the same is being
deployed in Finacle.
As per RBI guidelines / DoP rulings,
the officials should check all the relevant documents and obtain the
declarations from the customer requesting for withdrawal from their POSB
account in connection with wedding expenses.
The following conditions are
mandatory for withdrawal in respect of wedding expenses:
KYC documents should have been
submitted for the account; PAN card should have been updated. These checks are
done on the CIF of the account holder.
The maximum withdrawal allowed is
Rs.250000 or the closing balance of the account as on 08/11/2016,
whichever is lesser and subject to the minimum balance limits applicable on the
account. ( Rs.50 for non-cheque accounts and Rs.500 for cheque accounts)
The user has to select / enter
the report code as WEDLM against transaction report code field in CTM / HTM
menu for such transactions.
SBCO is advised to monitor the high
value withdrawals at all the POs under their control. Report on such transactions
can be generated using HFTR / HFTI menu with the Report Code field filled as
WEDLM, on a daily basis.
With regards
Giriraj Ponnambalam
Deputy Manager (FSI)
Centre for Excellence in Postal
Technology, Chennai 600002
044-28543481, +91 94441 08080
