POSTED BY December 10, 2013 10:40 am COMMENTS (3)
ONI would like to withdraw (not monthly interest) MIS as it has matured. But postmaster is saying that I need to be present to withdraw MIS. No authorization will work. I am out of India and no plan to visit soon. As it is matured, i will not get interest that I was getting. Interest rate is normal as savings bank.
Any suggestion?
2021 © Jagoinvestor.com All Right Reserved
Dear Ashish, well this may happen if the Post Master is agreeing to process despite your absense.
Thanks
Ashal
Dear Heartshacker, yes the Post Master is saying right. You need to be physically present to claim it.
Thanks
Ashal
Hi Ashal,
I may be wrong here if MIS maturity procedure is considered, but I also had an MIS in Delhi which got matured about a year back. During this period I moved from Delhi to Mumbai and later to Bangalore. In my case it was not possible to personally go and do the formalities.
I had to give an authority letter stating that since I can not come personally, I authorise my representative to collect the money on my behalf. Along with the letter I had handed over my ID proof, MIS passbook and also my representative’s ID proof.
The post office did issued the cheque in my name and handed over to the representative. I got the money credited to my account once the cheque was deposited.
Regards,
Ashish Garg