Freezing of Small Savings Schemes accounts matured but not closed after 3 years
FS-13/7-2020 -FS-Pa rt (1)
Government of India
Ministry of Communications
Department of Posts
(Financial Services Division)
Dak Bhawan,
New Delhi -110001
Dated: 15.07.2025
To
All Head of Circles/Regions
Subject: Freezing of Small Savings Schemes accounts matured but not closed after 3 years.
Sir/Madam,
Please refer to SB Order No.2512022 dated 16-12-2022, concerning the freezing of Small Savings Schemes accounts, under INOP-freeze Code, that have matured but not closed even after three years of maturity.
2. As per the aforementioned SB Order, it was decided to freeze matured accounts under the schemes MIS, SCSS, TD, KVP, NSC, RD, and PPF accounts (that are matured but not extended), which have not been closed even after three years since maturity. The designated freeze reason code for these accounts is ‘INOP: inoperative more than 3 years’.
3. To further enhance security of hard-earned money of depositors, it has now been decided that this freezing activity will be conducted twice a year as a continuous cycle. The process of identification and freezing of such accounts will be completed within 15 days, commencing from 1st July and ‘1st January of each year. This means accounts that complete three years of maturity as on 30th June and 31st December every year, respectively, will be identified and frozen
4. The Standard Operating Procedure (SOP) for handling these frozen accounts, as detailed in SB Order 2512022, remains in effect and must continue to be followed.
5. This issues with the approval of the Competent Authority.
Yours faithfully,
(Devender Sharma)
Assistant Director (SB-II