Reserve Bank Of India [RBI] — confusion regarding ppf withdrawal on maturity procedure-form-c
It is regarding ppf withdrawal on maturity (31 march 19) from sbi bank.
Simple clarification needed from rbi.
1) is the prescribed form-c (Attached) is required to be signed in front of banking official by ppf a/c holder (Single name).
2) if prescribed withdrawal form-c is duly signed by ppf a/c holder and submitted by other person (Relative, friend etc), is it acceptable or not?
3) is it mandatory to have sb a/c in the same bank i. E. Sbi (For my case)?
4) is dd/bc is needed to be collected by ppf a/c holder only or authority letter issued by ppf a/c holder is acceptable?
5) if ppf a/c is not maintained in same bank (Sbi), is dd/bc cannot be issued?
6) form-c has to be signed for withdrawal on revenue stamp, is the signature is to be done by a/c holder in front of bank official dealing?
7) what is the way out, if ppf a/c holder is away at other far end of country or out of the country?
8) in short, form-c duly signed by ppf a/c holder, delivered by someone with documents like authority letter, cancelled cheque of other bank (With name of ppf holder) to collect dd/bc is acceptable or not, as ppf a/c holder is out of country.
9) generally ppf maturity amount is high. Delay in payment per day interest loss is high for ppf holder.
Advance clarification by authority like rbi will make matter smooth, though maturity is on 31march 19. Rbi intervention needed as procedure varies from one bank official to another as well as one bank to other.
[Feb 03, 2019] Reserve Bank of India [RBI] customer support has been notified about the posted complaint.
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