When the presence of Depositor is mandatory??

GURU’S DAILY INSIGHT
When the presence of depositor is mandatory??

At the time of opening of an account

In case an account is opened by guardian on behalf of minor or on behalf of a person of unsound mind, presence of guardian is mandatory.

If account opened through the SAS/MPKBY agent, the presence of depositor is optional.

If the account opening forms and KYC documents are collected by the Post Office staff and the depositor’s signature is obtained in front of any authorized officials during the POSB account opening drives/melas / doorstep canvassing etc, the presence of such depositor is not mandatory.