Change of MPKBY Agent :-
Mahila Pradhan Khestriya Bachat Yojna (MPKBY) agency system was introduced by the Government w.e.f. 01.04.1972 with the objectives:- To educate housewives in family budgeting. To inculcate the habit of thrift among household and self employed people.
(1) Where the account has been initially opened through an agent, the depositor may seek change of agent in the following cases :-
(a) In the case of death of the agent through whom the account was opened.
(b) In case of termination of the agency/non extension of the agency of the agent through whom the account was opened. -
(c) Change of residence of the depositor either at the same station or by transfer from one station to another.
(d) A depositor who opened the account directly but now wants to avail the services of the agent.
(2) In the above cases request for change of agent will be sent by the depositor to the concerned Regional! Director, NSO (where the account was opened) and after the Regional Director has given his approval to change the agent, the depositor can utilize the services of that agent. In such cases, new agent can claim commission for subsequent deposits.
(3) The above procedure has been prescribed for change of agents in PPF accounts by the MOF (DEA) in their letters No. F1/3/89-NS.II dated 31.7.1989 and 16.10.1989 and will also be applicable to such cases in R.D. accounts.
