Withdrawal from Post Office PPF account with an authority letter

Q & A Forum › Category: General › Withdrawal from Post Office PPF account with an authority letter

IJM asked 5 years ago

I have a PPF Account for my son. I want to take authority letter from my son for closing this account. I had opened this account for my son when he was a minor, under my guardianship. Post office does not accept the authority letter signed by my son. Pl advise if there is any recent circular by Postal Department that authority letter is allowed for a father to close the PPF account for the son. I have Aadhar card for myself, my son and also the PAN cards for both of us. Pl guide..regards

3 Answers

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Sreekanth Staff answered 5 years ago

Dear Sir, May I know if your son is an NRI (residing outside India) currently?? Did you get the documents attested by the concerned bank manager where your Son has account?

IJM replied 5 years ago

Thanks for kind reply

Yes my son is NRI, he stays in Canada
He has a NRO, NRE account with yes bank india

Will post office accept his signatures attested by yes bank ?

Regards

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Sreekanth Staff answered 5 years ago

Dear Sir, I believe that they should accept. Also, let them know that your son's current residential status is NRI. Latest NSC & PPF rules for Non-Resident Indians (NRIs) | New Amendments to PPF Act & NSC

IJM replied 5 years ago

Yes Sir.
He is NRI.

Pl guide me.

If post office still says No for accepting authority letter in my name. What do I do.

I also ready India Post Manual, which say PPF account closure rules are same as Post Office Savings account closure rules – Savings bank closure allows closure thru a Messanger. But person managing the Post office Counter is typically a hard attitude guy, he would not understand and go by what he has been told. What escalation process I can use if the counter guy still says No. Suprisingly I opened this PPF account under my guardianship when my son was a minor and Post Office pass book bears my name. Is there way I can escalate to Senior person at Post office if he still says no.. Or lese other option: I transfer account to ICICI Bank and close account there, I feel ICICI has option of account closure electronically. Pl guide me. Appreciate your kind help. regards

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Sreekanth Staff answered 5 years ago

Dear Sir, If PPF account has matured (15 years) and since the account holder is an NRI (now), not sure if other bank (ICICI) will accept the transfer and renew it for 5 more years (extension block of 5 years). PO should accept your request for account closure. Do provide them a copy of your son's Passbook (Visa). Try to speak to the PO Master. Else, raise an RTI request about the closure of PPF account through representative.