Introduction of Opening MIS, SCSS, and MSSC Accounts via DOP Internet Banking

Introduction of opening of Monthly Income Scheme (MIS) Account, Senior Citizens Savings Scheme (SCSS) Account and Mahila Samman Savings Certificate (MSSC) through DOP Internet Banking

SB Order No. 20/2023, issued by the Ministry of Communications, Department of Posts, Government of India, introduces the opening of Monthly Income Scheme (MIS), Senior Citizens Savings Scheme (SCSS), and Mahila Samman Savings Certificate (MSSC) accounts through DOP Internet Banking. This move aims to enhance digital transaction services for Post Office Savings Bank (POSB) customers.

SB Order No.20/2023

NoFS-13/7/2020-FS
Government of India
Ministry of Communications
Department of Posts
(F.S Division)

Dak Bhawan, New Delhi – 110001
Dated: 26.10.2023

To
AII Head of Circles / Regions

Subject: Introduction of opening of Monthly Income Scheme (MIS) Account, Senior Citizens Savings Scheme (SCSS) Account and Mahila Samman Savings Certificate (MSSC) through DOP Internet Banking – Regarding

Madam / Sir,

To facilitate more digital transaction facilities to customers of Post Office Savings Bank (POSB), opening of MIS, SCSS and MSSC scheme accounts has been introduced in DOP Internet Banking w.e.f20.10.2023.

2. The option for opening of MIS, SCSS and MSSC schemes accounts is available under the ‘General Services’ tab of DOP Internet Banking of Post Office Savings Account Customers. The following procedure may be followed by the Internet Banking users for opening of account: –

After Login into DOP Internet Banking by Post Office Savings Account Customer:

• Click on ‘General Services’ Tab
• Click on ‘Service Requests’
• Select ‘New Requests’ & Click on ‘Ok’
• Click on ‘MIS Accounts – Open a MIS Account’ or ‘MSSC Accounts – Open a MSSC Account’ or ‘SCSS Accounts – Open a SCSS Account’
• Enter the Deposit Amount (Amount should be as prescribed in the scheme rules)
• Select the Debit Account (linked PO Saving Account)
• Enter the ‘Transaction Remarks’ if necessary
• Select the check box to agree to terms and conditions (Conditions may be read by clicking on the link ‘Click here’
• Click on ‘Submit online’
• Enter the ‘Remark’ if additional detail is required.
• Enter the ‘Transaction Password’
• Click on ‘Submit’ (Account will be opened if all the conditions are fulfilled)
• View/Download Deposit Receipt

Note (i) The account opened will be available in Accounts summary after a gap of few minutes and after re-login in Internet Banking.

(ii). Single account type can only be opened Account will be opened in the name of DOP Internet Banking user and nominee(s) available in linked Savings Account will be registered as nominee for the newly opened MIS/SCSS/MSSC account.

(iii) SCSS account can be opened only by the depositors whose age is 60 or above. Persons who are eligible to open SCSS account below 60 years of age have to visit the post offices for opening the SCSS account.

3. Closure of MIS/SCSS/MSSC scheme accounts through Internet Banking will be introduced shortly.

4. Accordingly, now DOP Internet Banking users can open all schemes’ accounts online except Post Office Savings Account (POSA) and Sukanya Samriddhi Account (SSA) and close the following schemes’ accounts.

5. It is requested to circulate these instructions to all post offices for information and guidance Adequate information of this functionality may be disseminated for the benefit of POSB customers. Further, post offices may be instructed to promote activation of Internet Banking & Mobile Banking to Post Office Savings Account Holders.

6. This is issued with the approval of competent authority.

Yours faithfully

(T.C. VIJAYAN)
Asst . Director (SB-I)

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