Frequently Asked Questions

General Questions

1Why is it that Passbooks are not always available in post offices?
Post offices are required to always inform the bank or place an order to replenish the passbooks stock before it gets finished. The bank does not condone sending back customers as a result of unavailability of passbooks.
2Why is information on the Special Savings account not known at Post Offices?
Information on products is usually provided to post offices through brochures and product documents and training through induction courses. It is possible that in some instances the information was not very well understood by the staff or training not yet availed to the respective individual.
3Why does the Bank fail to honour death claims?
The Bank never fails to process death claims in time if all the required papers are presented. Delays may occur only in cases where additional information provided is insufficient to be used as an instruction to effect payment.
Documents required:
A letter from the Tribal Authority indicating who the beneficiary is
A letter from the District Commissioner’s office to support the Tribal Authority’s letter
Death certificate or notice
4Why can’t updating of passbooks be done in Post Offices to avoid an influx of books to BSB which take a long period of time to resolve?
The relationship between the bank and the BPS is governed by an agency agreement. Each party tries to execute its responsibilities fully. However, other activities may be required to be carried out by BSB due to the information that is usually available in the Bank which may not be there in post offices. This is why passbooks have to be sent to BSB for auditing which involves checking passbook entries against physical documents or slips.
5Why can’t the bank consider placing its own officers in Post Offices or alternatively open its own branches?
This is one area the bank has always wanted to explore further. Talks have been held with BPS to establish how best to serve BSB customers and whether dedicated counters would be a feasible option.
6Why can’t BSB install ATMs to improve its services as it is evident that people are now tired of forming queues in post offices?
The Bank is considering a number of initiatives to make its products and services attractive. This includes changing the passbook operating model to include the introduction of ATMs delivery channel.
7Why can’t BSB decentralize its services to ensure good customer service and satisfaction?
These are some of the long-term issues that will be considered by the Bank.
8Why are passbooks submitted to BSB for auditing and updating never sent back to customers?
The Bank has been auditing passbooks manually and with all passbooks from all post offices coming to BSB, some delays are bound to happen. However, all efforts are made to ensure that passbooks sent to BSB for interest update are returned to customers within a reasonable time. There may be isolated cases where delays are encountered due to complications in auditing the passbook.
9People know Post Offices more than they know BSB and when is the Bank going to stand on its own?
The strategic alliance with BPS comes a long way and it is statutory. The objective is to ensure that banking services reach people all over the country. To achieve this, the BPS network was found to be the most appropriate.
10Many people who have passbooks complain that interest is never added to their balances and they wonder when and how that is supposed to be done?
It is a requirement that passbooks be submitted on an annual basis for interest update. This requirement is even stipulated on the passbooks. Customers are duly advised to comply with such requirement by bringing passbooks annually for auditing.