Tuesday, 21 December 2021

Do and Don't for Investors while Investing through Agent

 Do and Don't for Investors while Investing through Agent

  • An account for any of the National Small Savings Schemes can be opened and money can be deposited by himself/herself by visiting the Post Office/Bank Branch in person.
  • Facility of making online deposit is also available for certain schemes in Banks such as E-Kisan Vikas Patra, Public Provident Fund and Sukanya Samridhi Account.
  • In case one decides to avail the services of Authorised Agents, the following is the advice:
    • Establish identity of Authorised Agents by checking his Certificate of Authority and date of validity of the agency
    • Fill in the application form yourself. However, help/guidance of the agent may be availed
    • Always insist for Authorised Receipt duly completed by the agent while handing over money/instruments and documents to the agent for opening an account or making deposit. These receipt books are supplied by Government to the agents (Authorised Agents Receipt Books and ASLAAS – 5 cards for MPBKY agents)
    • Preserve counterfoils of the ASLAAS 5 cards till maturity of the account
    • If an agent declines or avoids issue of receipt book/ASLAAS card, do not entertain him/her and report the matter to the Postal/District Authorities.
    • Ensure receipt of passbook from the agent within 10 days from the date of investment. In case of non-receipt of passbook from the agent within 10 days from the date of Investment, lodge a complaint with either Appointing Authority; Regional Director, National Savings Institute; Concerned Post Master.
    • Invariably verify the correctness of the amount, date, stamp, signature etc. mentioned in the Passbook from the concerned Post Office from time to time
    • Do not hand over the cash to any unauthorised person or issue a cheque in favour of an agent
    • For investment over and above ₹10,000; issue only an account payee cheque drawn in favour of concerned Post Master
    • Do not fill/sign the withdrawal form before maturity

 Source : https://www.nsiindia.gov.in/


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