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Direct Debit Option from POSB Account to PLI/RPLI Premium Payment discontinued in McCamish Immediately

  Admin       Wednesday, August 4, 2021

No.29-26/2021-LI
Government of India
Department of Posts
Directorate of Postal Life Insurance
New Delhi-110021
dated 04.08.2021


To

All the HoCs

Subject : Discontinuance of Direct Debit facility through POSB-withdrawal slip & POSB Cheque for payment of PLI/RPLI Premium


Respected Madam/Sir,

As circle are aware new functionality in CIS(Core Insurance Solution) has recently been introduced wherein PLI/RPLI policyholders wwherein PLI/RPLI policyholders were provided with following new options for payment of PLI/RPLI premia using their POSB accounts:

Direct Debit using SB7 (Withdrawal form)
Direct Debit by using POSB Cheque
By using Standing Instructions (SI) mandate
By using Mobile Banking & e-Banking

2. Various references were received on the new functionality deployed in CIS from circles, Nodal offices and FS Division, Dak Bhawan. The mater was reviewed in consultation with all stakeholders. accordingly, it is decided to withdraw the Direct Debit facility through POSB withdrawal Slip and POSB Cheque for payment of PLI/RPLI premia by POSB cheque (without using Direct Debit Facility) will continue in normal course as usual

3. As disabling this Direct Debit functionality in CIS may take some time, circles are requested to immediately disseminate this information among all post offices to STOP allowing use of SB-7 withdrawal form and POSB cheque for payment of PLI/RPLI premia using "Direct Debit" facility

This issue with the approval of competent authority

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Thanks for reading Direct Debit Option from POSB Account to PLI/RPLI Premium Payment discontinued in McCamish Immediately

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