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Synopsis
As per the circular issued, an individual filing a claim can do it either by visiting the home post office branch or via email, speed post or registered post. Further, no such time limit has been mentioned in the case of reporting of frauds in post office schemes in the circular.
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If the claim is submitted via e-mail, then an acknowledgement will be sent by the official/officer authorized for the purpose.
The Department of Posts has issued a standard operating procedure (SOP) for the handling of claim cases in the event of frauds and losses in post office schemes such as post office savings account, cash certificates (like National Saving Certificate), money orders, postal life insurance/Rural Postal Life Insurance etc. The department spelt out the SOP in a circular dated May 27, 2021. At present, there is no standard procedure for filing a claim with the post office in the event of fraud.
Post Office Scheme: Invest Rs 25000 and get this HUGE amount in return after 5 years
At present, the scheme is getting 5.9% interest annually. Under this scheme, you can get tax exemption of Rs 1.5 lakh annually under Section 80C. File photo
Updated: May 11, 2021, 09:54 AM IST
Post Office s National Saving Certificate Scheme (NSC) is time-tested and an extremely safe investment option. If you invest as little as Rs 100 a month in the NSC scheme, you can become a millionaire in a few years.
The National Saving Certificate Scheme (NSC) lets you make money by keeping your investment safe without any risk and make your and your family’s future secure.
Express News Service
KASARAGOD: Kasaragod police stumbled on a Rs 500-crore pyramid scheme that duped thousands of investors while they were investigating an abduction case.
Police arrested Mohammed Javed (28), a native of Udyawar in Manjeshwar, believed to be an early investor in the illegal money circulation scheme. He made Rs 1.08 crore but around 4,300 persons who were added to the network by him lost around Rs 47 crore, said Kasaragod DySP PP Sadanandan, an expert in financial fraud.
Police suspect that the fraudulent scheme has spread its tentacles in Kerala, Karnataka, the UAE, and Thailand. Sadanandan said that the alleged fraud was perpetrated by a company called My Club Trades or MCT, which its website says has an office in Bangkok.