tailieunhanh - SB ORDER NO. 01/2011: Government of India Ministry of Communications & IT Department of Posts

Because it is sometimes hard for investors to become experts on various businesses—for example, what are the best steel, automobile, or telephone companies—investors often depend on professionals who are trained to investigate companies and recommend companies that are likely to succeed. Since it takes work to pick the stocks or bonds of the companies that have the best chance to do well in the future, many investors choose to invest in mutual funds. What is a mutual fund? A mutual fund is a pool of money run by a professional or group of professionals called the “investment adviser.”. | SB ORDER NO. 01 2011 2011-SB Government of India Ministry of Communications IT Department of Posts Dak Bhawan Sansad Marg New Delhi-110001 Dated To All Heads of Circles Regions Addl. Director General APS New Delhi. Subject - Use of prescribed Account Opening Form Form A while opening PPF accounts to avoid irregular opening of Joint accounts in PPF. Sir Madam The undersigned is directed to say that this office is receiving large number of cases from circles regions for regularization of irregularly opened Joint PPF accounts by converting into single accounts. As Department has no power to relax any statutory rule all such cases are being referred to Min. of Finance DEA for regularization. 2. Min. of Finance DEA while examining such cases has observed that Post Offices are using SB-3 for opening of PPF accounts which is meant for opening of SB RD TD MIS accounts and this is resulting in opening of Joint PPF accounts as the form has provision for opening of joint accounts. Ministry has pointed out that PPF Scheme provides for FORM-A as account opening form and if this form is used for opening of PPF account there are less chances that a Joint PPF account could be opened. 3. It is therefore requested to ensure that all post offices operating PPF scheme should use Form-A for opening of PPF account and no Joint PPF account is opened. Availability of this prescribed form in Post Offices operating PPF scheme may also kindly be ensured. 4. This may kindly brought to the notice of all post offices operating PPF scheme. 5. This issues with the approval of DDG FS . Yours faithfully Kawal Jit Singh Assistant Director SB Copy to - I. DDG FS DDG VIG JS FA DDG PAF DDG RB II. Director FS Director CBS Dak Bhawan. III. Director of Audit P T Delhi. IV. All Directors Dy. Directors of Accounts Postal V. Director Postal Staff College Ghaziabad. VI. All Directors Postal Training Centres. VII. Director CEPT PTC Mysore for uploading the SB Order in Department s Web Site.