Recently, Government of India has issued OM to discontinuation of Physical Pre-printed NSC and KVP Certificate for Small Savings Schemes.
As the Department of Posts has shown difficulty vide D.O.letter No. 61-01/2016-SB dated 07.04.2016. Government may be noted that no physically pre-printed KVP and NSC Certificates may be issued on or after 01st July, 2016 by banks or Post Offices.
Government decided to issue of NSC/KVP certificates on and after 01.07.2016 in Two Modes i.e. 1. Exclusive e-mode and 2. Passbook Mode (e-mode format printed or recorded on a passbook).
Exclusive e-Mode :
The format for e-mode is given in Annex I for KVP and NSC. The Part A of the format is to be made accessible for viewing by a customer online in a non-printable form and part B of the format needs to be maintained as part of the database only. Any customer can apply for viewing of NSC or KVP through online secure system for which he/she has to open saving account (if Savings Account is not already opened) and apply for Internet Banking before purchase of NSC or KVP. A customer shall have access of viewing only his/her own deposit under this mode at all times.
Passbook made (e-mode format printed or recorded on a passbook) :
Under this mode, the format for e-mode as given in Part A of Annex I for KVP and NSC, shall be either printed or entered manually on a passbook and such Passbook should be issued with physical signature (in blue ink) of the authorized official. Manual entries should be made only if either printer is not supplied or it is not in a working condition. Efforts should be made to provided adequate Passbook printers to all Post Offices and bank branches authorized to handle Small Saving Schemes.
As the Department of Posts has shown difficulty vide D.O.letter No. 61-01/2016-SB dated 07.04.2016. Government may be noted that no physically pre-printed KVP and NSC Certificates may be issued on or after 01st July, 2016 by banks or Post Offices.
Government decided to issue of NSC/KVP certificates on and after 01.07.2016 in Two Modes i.e. 1. Exclusive e-mode and 2. Passbook Mode (e-mode format printed or recorded on a passbook).
Exclusive e-Mode :
The format for e-mode is given in Annex I for KVP and NSC. The Part A of the format is to be made accessible for viewing by a customer online in a non-printable form and part B of the format needs to be maintained as part of the database only. Any customer can apply for viewing of NSC or KVP through online secure system for which he/she has to open saving account (if Savings Account is not already opened) and apply for Internet Banking before purchase of NSC or KVP. A customer shall have access of viewing only his/her own deposit under this mode at all times.
Passbook made (e-mode format printed or recorded on a passbook) :
Under this mode, the format for e-mode as given in Part A of Annex I for KVP and NSC, shall be either printed or entered manually on a passbook and such Passbook should be issued with physical signature (in blue ink) of the authorized official. Manual entries should be made only if either printer is not supplied or it is not in a working condition. Efforts should be made to provided adequate Passbook printers to all Post Offices and bank branches authorized to handle Small Saving Schemes.
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