Scheme Guidelines

GUIDELINES ON PROCEDURE FOR ENROLMENT OF MEMBERS

Procedure for Enrolment of Members :

1. Eligibility:

A small and marginal grower/farmer of tea, coffee, rubber or tobacco with an operational holding of 4 Hectares or less is eligible to be enrolled as Member under the Scheme.

2. Submission of Application Forms:

An eligible grower will submit the following two applications to the Commodity Board Office :

i) Application for Enrolment:

Each applicant will submit an “Application for enrollment” in “Form PSF-A”( Annexe- I).The Applicant will submit proof of his holding and registration number, if any, along with his application. Each Commodity Board will specify what documents or certificates the applicants are required to submit as proof of eligibility.

ii) Application for opening of PSF Savings Bank Account

Each applicant will submit an “Application for Opening of Bank Account” in “Form PSF-B” (Annexe-II).

This application, is addressed to the Branch manager of the Bank in which the applicant is desirous of opening his savings bank account. However, this application is also to be submitted by the applicant to the zonal/sub-zonal, regional/sub-regional office of the Commodity Board.

The applicant will submit two passport size photographs and affix his signature and/or thumb impression in the designated place in the form.

3. Deposit of Enrolment Subscription Amount:

The applicant will deposit an A/c payee Demand Draft for an amount of Rs.500/- towards non-refundable enrolment subscription to PSF Corpus Fund. The demand draft will be in the name of “PSF Account, – Board” (Name of the respective Board will be written) e.g. a small grower of tea will submit a demand draft favouring ‘PSF Account – Tea Board” whereas a rubber grower will prepare the draft favoring “PSF Corpus Account – Rubber Board”.

On 5th of every month, demand drafts deposited by members during the previous month will be sent by the field offices to the Commodity Board Head Office along with list of members for deposit in the PSF Account of the respective Board.

4. Scrutiny of Application Forms:

4.1 Each Commodity Board will designate officers/agencies /organisations competent to receive applications along with bank drafts, and to scrutinize the applications and enroll eligible applicants. The designated officers/agencies/organisations will scrutinize the applications within seven days of receipt of application. The documents, if any, furnished by the applicant, and his declaration regarding his eligibility will be deemed adequate to enroll him as a member under the scheme. If at any subsequent stage, it is found that a grower had made a wrongful declaration regarding his holding and that he was not eligible to be a member, his membership will be cancelled, and the entire amount in his S.B.A/c would be forfeited.

4.2 An applicant who is eligible and has deposited a D.D. of Rs.500/- would be assigned an enrolment number. The enrolment number may be so given as to indicate the location of the applicant as well as the month and year of enrolment under the scheme, e.g. a small tea grower coming under the jurisdiction of Tezpur sub-regional office of the Tea Board may be given the number “TB/TEZ/0903/0001” where TB refers to Tea Board, TEZ to Tezpur, 0903 indicates enrolment of a member in the month of September,2003 and 0001 is the number of first member to be enrolled. The last four digits may be given sequentially so that at any point of time the total number of registrations can be quickly ascertained.

For example, if the enrolment number at end of September is 0100, then the first enrolment number in October would be 0101. Tobacco Board enrolments may begin with “TBC/-/-/-” to differentiate from Tea Board enrolments beginning with “TB/-/-/-”.

4.3 The designated officer/agency/organisation of the Board will scrutinize the application forms received in “Form – PSF – A”(Annexe-I) . On finding an applicant eligible under the Scheme, the enrolment number will be recorded on “Form PSF-A” and entered in a separate register. Original application form (“Form – PSF-A”) will be filed by the Commodity Board Office. Thereafter the designated officer/agency/organisation will scrutinise “Form – PSF –B”(Annexe-II) and ensure that:

• Thumb impression / signatures of the applicant is at the designated place.
• Two passport size photographs are attached.
• Name of the designated bank branch has been mentioned.

After scrutiny, the designated officer will record his recommendation for opening of the bank account in “Form PSF – B”(Annexe-II) and send it to the respective bank branch for opening of the account.

4.4 The Commodity Board office will maintain a Register in “Form PSF-C” ( Annexe-III).

4.5 Each field office of the Commodity Board will submit a Monthly Progress Report to the Commodity Board Head Office in “Form – PSF-MPR”( Annexe IV). Each Commodity Board will send a Monthly Progress Report in “Form – PSF-MPR” (Annexe-IV) so as to reach PSF Trust office by 10th of every month.

5. Opening of Savings Bank Account of Enrolled Member:

5.1. Commodity Board Office will send “Form – PSF – B” (Annexe-II), to the concerned bank branch and inform the applicant that his application for opening of bank account has been sent to the bank branch. The applicant would be advised to contact the bank branch for deposit of Rs.100/- for opening the account.

5.2. On receipt of “Form – PSF – B”(Annexe-II), duly recommended by the designated officer/agency of the Board, the bank will open an account designated as “PSF Savings Bank Account No. ______, Name : ______________, Enrolment No.: ____________).

The Standing Operating Instructions for this Account will be as given as hereunder:-

1. “Account holder will deposit the designated amount during the normal/high price year as per the instructions of the respective Boards.
2. Withdrawals from this Account can be made only on authorisation of Commodity Boards”.

5.3. The bank branch would, as far as possible, open the bank account and provide a passbook on the date when the grower applicant contacts the branch to avoid inconvenience to the small grower. In any case, the savings bank account should be opened within seven days of receipt of “Form – PSF – B”Annexe-II from the Commodity Board Office.

5.4. Each Bank branch will send a monthly statement, in “Form – PSF-D” (Annexe-V), regarding the number of Savings Bank Accounts opened, to the respective Regional/Sub-Zonal offices of Commodity Board which had forwarded the applications.

6. Disbursement

6.1 Detailed account of payouts will be maintained by Commodity Board on receipt of payout amount from PSF Trust. The Commodity Board will remit the amount through their regional/sub-regional offices for credit to the respective grower’s account in various bank branches.

6.2 Two separate lists will be submitted by each participating Bank branch, a list in “Form – PSF-E” (Annexe-VI) indicating the members who have deposited the required amount for the year on or before 31st March, and a second list in “Form – PSF-F” (Annexe-VII) giving names of defaulters to the Commodity Boards, by 10th of April every year. On this basis, the regional offices will raise a demand for payout, if required, to the Commodity Board Head Offices. Similarly, each Commodity Board will raise a consolidated demand to the PSF Trust Office by 15th of April every year.

7. Maintenance of Accounts by the Commodity Boards:

7.1 Each Commodity Board will open a separate bank account in the name “PSF Account (Name of the Board)” for implementation of this Scheme. For example, Tea Board will open a new “PSF Account, Tea Board”. Funds will be received to this account through the following sources:

(i) Enrolment subscription amount from members.
(ii) Pay out amount from PSF Trust.
(iii) Refund of amount by banks on account of default and closure of defaulting members’ account.
(iv) Interest.

7.2 Each Commodity Board will maintain details of receipt of funds under the above mentioned sources and prepare a Quarterly Return to be sent to the PSF Trust in “Form – PSF – G” ( Annexe VIII ). Quarterly Reports for April – June, July – September, October – December and January – March will be sent to PSF Trust in July, October, January and April every year.

7.3 PSF Corpus amount deposited by enrolled members will be remitted to PSF Trust, New Delhi by 10th of every month, by DD drawn in favour of “PSF Trust A/c”.

PRICE STABILISATION FUND SCHEME - ANNEXE I

FORM – PSF – A

APPLICATION FOR ENROLMENT OF GROWER AS
MEMBER IN THE PRICE STABILISATION FUND SCHEME

To
The ___________
__________ Board
_______________

Sir,

I wish to enrol as a Grower Member in the Price Stabilisation Fund Scheme introduced by the Government
of India. My details are as under :

I do solemnly declare that to the best of my knowledge and belief, the above stated information is true,
Complete and correct. Further, I have read, understood and hereby agree to the terms and conditions of
the Price Stabilisation Fund Scheme.

Signature of the applicant

Place :
Date :

FOR OFFICE USE ONLY

WHETHER ELIGIBLE FOR JOINING PSF SCHEME - YES / NO
IF YES, ENROLMENT NO.

SIGNATURE OF THE AUTHORISED OFFICIAL
OF COMMODITY BOARD

PRICE STABILISATION FUND SCHEME - ANNEXE II

FORM – PSF – B

APPLICATION FOR OPENING OF SAVINGS BANK
ACCOUNT UNDER PRICE STABILISATION FUND SCHEME

I wish to apply for opening of a Savings Bank account in your branch under the Price Stabilisation Fund Scheme. My
details are as under :

I have been enrolled as a member under the Price Stabilisation Fund Scheme by the ___________ Board (Name of the
Commodity Board). I have read, understood and hereby agree to the terms and conditions of the Price Stabilisation
Fund Scheme. Further all the particulars and information given above are true, correct, complete and upto date in all
respect.

SIGNATURE OF THE APPLICANT

Certificate by the ______________ Board

Date : _______________

We certify that Shri / Smt. ________________________Has been enrolled as a member under the Price Stabilisation Fund
Scheme and he / she has paid the Enrolment Subscription amount. He / she may be allowed to open a bank account under the Price Stabilisation Fund Scheme in your branch.

SIGNATURE OF THE AUTHORISED
OFFICIAL WITH SEAL.

PRICE STABILISATION FUND SCHEME - Annexe-IV

FORM – PSF - MPR

MONTHLY PROGRESS REPORT

Name of Office

Report for the Month of________________

1. During the Month

1.1. No. of applications received

1.2. No. of enrolment

1.3. No. of applications sent to the Bank

1.4. No. of S.B. A/cs opened

1.5. Amount of enrolment subscription
sent to H.O.

2. Progressive Total ( Upto end of Month )

2.1. No. of applications received

2.2. No. of enrolment

2.3. No. of applications sent to the Bank

2.4. No. of S.B.A/cs opened

2.5. Amount of enrolment subscription
Sent to H.O. upto the end of month

PRICE STABILISATION FUND SCHEME - ANNEXE V

FORM – PSF - D

Name of the Bank / Branch ____________________________

Statement of PSF Savings Bank Accounts opened during the month of___________________

PRICE STABILISATION FUND SCHEME - ANNEXE VI

FORM – PSF - E

*LIST OF DEPOSITORS
(MEMBERS WHO HAVE DEPOSITED MINIMUM
REQUIRED AMOUNT ON OR BEFORE 31ST MARCH ------(YEAR)

Name of Bank/Branch

------------------- ----------------------

TOTAL

------------------- ----------------------

*Banks will not be required to submit return in Form – PSF - E in a year in which the member is not required to make any deposit.

PRICE STABILISATION FUND SCHEME - ANNEXE VII

FORM – PSF - F

* LIST OF DEFAULTERS

*Banks will not be required to submit return in Form – PSF - F in a year in which the member is not required to make any deposit.

PRICE STABILISATION FUND SCHEME - ANNEXE VIII

FORM – PSF - G

QUARTERLY RETURN

Name of the Commodity Board _______________________

Return for the Quarter ______

1. INCOME

1.1 Enrolment subscription amount Received from members

1.2 Amount received from PSF Trust

1.3 Amount received from Banks towards Closure of accounts of defaulting members

1.4 Amount of interest received from Banks

1.5 Miscellaneous

1. TOTAL

2. EXPENDITURE

2.1 Enrolment subscription amount
sent to PSF Trust

2.2 Pay Out to growers

2.3 Miscellaneous

2. TOTAL

3. BALANCE
( Col. 1 – Col. 2 )