Sunday, May 9, 2010

Amount of Security Bond to be furnished by GDS enhanced

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

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

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

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

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