Tuesday, 26 July 2016

Revision of GDS FG Bond security amount

The Department of Posts has revised the security amount to be furnished by Gramina Dak Sevaks as under vide DG letter no 6-18/2010-PE-II dated 07-05-2010 

1. GDS BPMs from Rs 10000/- to Rs 25000/-

2 Other GDS from Rs 5000/- to Rs 10000/-

The security will be in the form of Fidelity Guarentee Bond or National Savings Certificate pledged to the Department or in the shape of Bank Gurantee from any nationalized Bank. The present periodicity of yearly renewal- of the Fidelity Guaratee Bond be revised to once in 5 years (quinquinnelly).The required premium for-5 years' block may be recovered and the F.G. Bond obtqined for full 5 years block from the recognized Cooperative Credit Society.

To view the full text of the letter click here.


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