How to Postal Branch office SB withdrawal above 5000/- (Higher value withdrawal)

How to Postal Branch office SB withdrawal above 5000/- (Higher value withdrawal)

1. The request for a withdrawal of amount more than Rs.5000 can be initiated through device by BPM
using High value withdrawal option but till the stabilization of new process, he will collect the
Withdrawal form (SB-7)too, take customer’s signature and send the verified voucher along with
Passbook to AO for approval

2. Even though the high value withdrawal request will be visible to the SPM of AO on Finacle on the
same day itself, the request would be approved by the AO only when the physical vouchers with
verified signature would be received from the BO along with Passbook

3. BPM can execute the transaction and disburse the amount (subject to availability of cash) after
receipt of voucher & passbook and from AO duly approved. BPM should follow the remaining

procedure as mentioned for normal withdrawal..
4. On receipt of withdrawal Form and Passbook from BO for sanction of high value withdrawal, PA
and Supervisor will go to HACLI menu and see balance in the account before approving the
request. Signature of depositor should also be compared with the available signatures in Finacle
and PA as well as Supervisor will follow the same procedure as being followed now and sanction

will be sent to BO. SB-45 register will continue to be maintained.
5. When withdrawal form is received from BO after the payment, date of payment should be entered
in SB-45 as done presently.