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Updated: June 16, 2010 16:00 IST

NPS will be offered at head post offices in AP

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A file picture of a postman with a new bag given under the Project Arrow Phase III of India Post. Photo: K. Murali Kumar.
The Hindu A file picture of a postman with a new bag given under the Project Arrow Phase III of India Post. Photo: K. Murali Kumar.

The New Pension Scheme (NPS) started by Government of India, will be offered in all 95 Head Post Offices in Andhra Pradesh, a top official said on Wednesday.

“All 95 HPOs in Andhra Pradesh are identified as Point of Presence Service Provider (POP—SP) for accepting NPS transactions,” K. V. Sundar Rajan, Chief Postmaster General (AP) Circle, told reporters here.

Explaining the scheme, which is regulated by Pension Fund Regulatory and Development Authority, Sundar Rajan said any citizen of India in the age group of 18 to 55 years can join the scheme with minimum contribution of Rs. 500 per transaction under Tier—I account while the minimum contribution under Tier—II account is Rs. 1,000 per transaction.

Referring to the Instant Money Order (iMO) Service, the Chief Postmaster General explained iMO is a web—based instant money transfer service offered between two individuals within India and there are 257 iMO centres in AP.

A minimum of Rs. 1,000 and a maximum of Rs. 50,000 can be sent through iMO, Sundar Rajan said adding “Instant Online money transfer service is instant and the money booked through iMO can be disbursed the very next minute.”

Briefing on ‘Money Order Videsh’ service, he said MO—Videsh which facilitates remittance to foreign countries and also to receive remittances from abroad will be available at 95 HPOs.

The minimum and maximum amounts to be accepted is $100 and $5,000 respectively, with maximum 12 transactions in a year and $2,500 per transaction, he said.


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