Change of MPKBY Agent in PPF Accounts in Post Offices

Change of MPKBY Agent in PPF Accounts in India Post

Eligible Scenarios for Agent Change:

A depositor may request a change of agent if the account was initially opened through an agent, in the following cases:

(a) Death of the original agent.

(b) Termination/non-extension of the original agent’s agency.

(c) Change in the depositor’s residence (same station or transfer to another station).

(d) Depositor who opened the account directly but now wishes to avail an agent’s services.

Procedure for Agent Change:

• The depositor must submit a request to the Regional Director, NSO (where the account was opened).
• The new agent can only claim commission for deposits made after the Regional Director’s approval.

Regulatory Basis:

Prescribed by MOF (DEA) via letters:

• No. F1/3/89-NS.II dated 31.07.1989
• No. F1/3/89-NS.II dated 16.10.1989
• Applicable to PPF and RD accounts.

Key Notes:

• The new agent’s commission is valid only for post-approval transactions.
• Regional Director’s approval is mandatory for the change.