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Issues
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Process in Sanchay Post
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Process in Finacle
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Post
Office
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For
each Post Office, PO Code is allotted.
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● In Finacle, each Departmental Post Office is
called as Service Outlet (SOL) and allotted a ID which is called as SOL ID.
● Combinations of different SOLs in Finacle is
called SOL Set and separate SOL Set ID is allotted for each type of sets.
● Each Branch Post office will be allotted a
separate Code during migration which needs to be selected at the time of
doing BO transactions from account opening screen.
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Account
number
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In
Sanchay Post, account number is generated from the block of accounts allotted
for different schemes.
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● In Finacle, account no. is called as Account
ID. Account number will be generated by the Finacle CBS application randomly
and will be in 10 digits.
● From the Account ID, you cannot identify the
scheme as it has no such indication.
● Every Transaction will be given a
Transaction ID in Finacle CBS and Counter PA has to write Transaction ID on
the voucher.
● Supervisor has to ensure while verifying
that Tran-ID is written on the voucher.
● From the Tran-ID, anyone one can see the
details of the transaction.
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Cash
Handling
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In
Sanchay Post, there is no provision of handling cash.
Cash
is handled in SB Cash.
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● In Finacle, cash is handled through VAULT.
● All Counter Pas are called as Tellers and
each Teller is allotted Teller Cash Account.
● Cash taken from Treasurer is to be first
entered in Teller’s cash account and main Vault account of the Supervisor by
each Counter PA(Teller).
● Supervisor will verify these entries in the
Finacle CBS Application. Only after this, a cash transaction can be done by
Counter PA.
● All cash receipts and payments done at the
counter are entered into Teller Cash Account automatically.
● Each Counter PA(Teller) has to tally his
cash at the close of the counter with his Teller Cash Account.
● After tallying cash, all Counter PAs will
return cash through Finacle Teller Cash Account to Supervisor’s Vault who in
turn will verify these entries.
● Physical cash will continue to be taken by
Counter Pas from Treasurer and Counter Pas will also continue to return physical
cash to Treasurer.
● Supervisor has to ensure at the day end that
Teller Cash Account of each Teller (Counter PA) is Zero.
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Account
opening with CIF
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There
is no process of creation of CIF in Sanchay Post
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● In Finacle, for every depositor, CIF has to
be created. CIF Number will be in 9 digits generated by the system.
● Before creation of CIF, a de-dupe check has
to carried out for checking as to whether the customer is already having any
CIF.
● At the time of migration, new CIF will be
created for each depositor or guardian.
● There is a menu in Finacle CBS to look the
CIF and new account number generated against old account number during
migration.
● Counter PA has to write new CIF and Account
number in the Passbook of old customers as and when it is presented for
transaction.
● All accounts of a customer will be attached
with the CIF in Finacle CBS.
● By entering CIF no,, detail of all
investments of the customer can be seen.
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Use of SS Book
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In
HPOs and most of the SOs where Sanchay Post is working, SS Book is not
maintained.
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● On implementation of Finacle CBS
application, while opening new accounts by using new Account Opening Form
(AOF), additional signatures of depositor(s) to be taken on perforated slip
for Savings Account Holders who are able to sign.
● This signature slip needs to be pasted on
the SS Book for reference at the time of withdrawal till scanned image of
signatures are uploaded into Finacle by Circle Processing Centre (CPC).
● This is to be implemented in HOs as well as
SOs after migration to CBS.
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Entering of Date of Birth and Last name
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In
Sanchay Post, entering of Date of Birth is not mandatory except in SCSS and
Minor Accounts. There is no concept of First, Middle and Last name in Sanchay
Post.
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● In Finacle CBS, entering of Date of Birth
for all accounts is mandatory.
● Entering of Last name in also mandatory in
Finacle CBS.
● When there is no last name for a customer,
first name should be entered as last name.
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Opening of account by minor of the age
between 10-18 years without guardian
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Sanchay
Posts treats such accounts as Individual Accounts.
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● Since entering of Date of Birth is mandatory
in Finacle CBS, it treats all depositors of age below 18 years as minor.
● When Minor attains majority, it stops
transactions and allow transactions only when status of account is changed
from minor to normal.
● Counter PA has to take fresh Account Opening
Form with fresh KYC of the depositors after attaining age of 18 years and
change status of account from minor to normal.
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Funding of accounts
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In Sanchay Post , there is a process of
accepting deposit at the time of account opening and purchase of
certificates.
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● In Finacle, deposit is called as Funding.
● Savings and PPF Account can not be funded
during account opening.
● Funding has to be done after opening of
Savings nad PPF Accounts.
● In case of other types of
accounts/certificates, funding has to be done while opening the accounts.
● In Finacle account number will be generated
against each certificate issued
● Same process is also applicable to existing
certificates and account against each certificate will be created during
migration.
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Validation of minimum amount of deposit and
withdrawal
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Sanchay Post does not allow deposit and
withdrawal in Savings Account for amount less than Rs.5/-.
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● Finacle CBS has no such validation. Counter
PA and Supervisor has to ensure that no deposit and withdrawal of less than
Rs.5/- is accepted from depositor.
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Payment of interest in MIS,TD, SCSS etc.
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In Sanchay Post, interest is credited into
the MIS/TD/SCSS Accounts and also paid from the accounts.
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● In Finacle, Interest is not credited to the
MIS/TD/ SCSS Accounts.
● As a batch process, interest in all these
three categories of accounts is calculated and credited into repayment
account.
● If depositor is having savings account in
any CBS post office, interest will be automatically credited into Savings
Account of the depositor during batch process.
● Otherwise, interest will be credited into
Sundry MIS/SCSS/TD Office Accounts created for each such scheme.
● For payment of interest, by cash, Counter
has to pay interest from Sundry Office account.
Therefore, it is desired that all MIS/SCSS
and TD account holders should be requested to open savings account and link
the same for credit of interest.
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Savings/NSS/PPF Account closure.
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In Sanchay Post Savings/NSS/PPF account
closure, all calculations of closing interest are done by the software.
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● The process of Savings/NSS/PPF account
closure in Finacle is totally different.
● When closure is to be invoked, first,
make the balance as Zero by withdrawing the available balance before
proceeding to closure.
● Detail of closing interest have to be seen
only after closure by going through transaction details.
● The depositor should be told to fill receipt
portion based on the closing interest seen by invoking interest accrual menu
or through transaction details menu.
● Even Supervisor, while authorizing closure
cannot see the closing interest amount on the screen.
● For verifying the interest amount written on
the voucher, Supervisor also has to either go to the detail of transaction or
go to interest accrual to see the closing interest.
● The process of closure of PPF and NSS
accounts are also same except that in case of NSS-87 Closure, Counter PA has
to deduct TDS by invoking the menu HCACC.
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Inventory process
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Inventory process in Sanchay Post can be
maintained for SO/HO with Invoice number details etc.
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● Process of inventory of certificates and
cheque books is different in Finacle CBS application.
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Process change for certificate name
transfer.
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In Sanchay Post, for Certificate transfer
from one person to another or single to joint or joint to single, old
certificate is discharged and new certificate is issued.
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● In Finacle CBS application, CIF is to be
created for all new depositors.
● Before creation of new CIF, a de-dupe
check has to be made for checking about the existence of the customer.
● New CIF is to be created for the new
customer whose name is going to be added or in whose name NSCs are going to
be transferred.
● New CIF is to be attached with the existing
accounts created against each certificate. This is required to be done for
each certificate transferred.
● On the physical certificate, name of old
customer has to be rounded and name of new customer to be added under dated
signatures of Supervisor.
● In case of single to joint, name of
new customer is to be added on the existing certificate.
● Transfer of certificate from one person to
another is to be done only once from date of issue to date of discharge.
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Certificate issue (linkage with printing of
certificates)
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In Sanchay Post, on issue of certificate
from the substock, certificate is automatically reduced from stock held. But
this is different in finacle.
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● In Finacle CBS application, issue of
certificate from stock is linked to the printing of certificate.
● Even if printer is not working or not
available, Counter PA has to invoke the menu of printing a certificate to
issue certificate.
● Mere issuing a certificate would not reduce
the certificate balance. Only
after using print command, the certificate balance from stock is reduced.
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NC4a issue
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In Sanchay Post, if certificates are not
available in stock, a receipt can be issued from Sanchay Post and amount will
be accounted for in the post office account against certificate issue. Later,
certificates can be issued from the stock against this receipt any time.
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● In Finacle CBS System, in such cases,
receipt from NC4(a) has to be issued to the customer and it should be ensured
that only those denominations should be selected while opening account which
can be made available in the near future on receipt of stock as denomination
once selected cannot be changed later.
● An account is opened against each
certificate in Finacle CBS and Counter PA has to enter the NC4(a) receipt
number in the relevant field in Finacle CBS.
● Once, certificates of same denomination are
received in stock, the Counter PA has to print certificates against account
created under NC4(a).
● Even if the printer is not ready or not
working, the Counter PA has to give print command in Finacle so that
Certificates will be attached against the accounts opened.
● Certificates can be filled by Hand also.
Through a report, any user or visiting officer or inspecting officer or even,
DAP officer, Divisional Office, Regional Office or Circle Office can watch
the pending NC4(a)’s issued by any post office against which certificates are
not issued through a report.
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Handling of MPKBY Agent Lists at BOs.
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Sanchaya Post has the provision to accept RD
Bulk Lists without posting and post transaction at a later date with back
dated posting.
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● Finacle CBS does not have the facility to
accept deposit in bulk and post the transactions later with back date.
● Posting has to be done on the day of
receipt.
● Therefore, after Migration to CBS, RD Bulk
Lists are to be accepted only either through Agent Portal or at Account
Office at the Counter.
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RD Agent Portal
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In Sanchay Post, there is a provision to
attach RD Accounts with an identified MPKBY Agent and when agent presents
a List, amount of List can be accepted pending posting of the List.
Amount of all such Lists are reflected in LOT and posting against pending
Lists can be done at a later date with date of presentation of List as date
of deposit.
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● In Finacle CBS Application, there is no
provision to accept Lists of MPKBY/PRSG Agents/Leaders at counter.
● For bulk acceptance of RD deposits from
MPKBY Agents/PRSG Leaders, an Agent Portal has been developed which can be
accessed through DOP website using internet.
● Any RD account during opening or after
opening can be attached with any MPKBY Agent/PRSG Leaders.
● Once account is attached to the agent,
deposit cannot be accepted at the counter in that account unless depositor
gives in writing to cancel the attachment with agent.
● During migration, all accounts already
attached with a particular agent in Sanchay Post will be attached with the
same agent in Finacle CBS application.
● All MPKBY agents will be issued Login ID and
Password to operate Agent Portal.
● When agent logs in to Agent Portal, all live
RD accounts attached with the agent will be visible to the agent.
● Agent can select the installment
month. Default fee/ rebate will be calculated by the system.
● Agent can select three different modes
of deposits i.e cash, by POSB Cheque and by any other Bank Cheque.
● When agent selects cash as mode of deposit,
system will stop entries, once limit of Rs.10,000/- is reached.
● System will generate one reference number
against each List.
● Agent can print the LIST by using any
printer.
● When agent comes to the post office with
printed List(s) with either cash/POSB Cheque/other Bank Cheques having
reference numbers against each list.
● Counter PA will enter the reference number
printed on the List and will be able to see the List(s) presented.
● Counter PA will compare all the entries in
the printed List with that in the Finacle CBS and see that there is no change
in the default fee or rebate on the day of presentation and accept the List
after counting cash or POSB Cheques.
● CBS System will once again validate all the
entries in the Finacle Core Banking Solution application and accept the
deposits.
● If any deposit is rejected, Counter PA can
print the revised LIST and return the excess money to agent.
● Counter PA will save the transactions posted
and then Supervisor has to validate the posting.
● Only, after Supervisor tallies the printed
copy with the system and authorizes the posting, only then the amount would
be reflected in the Counter LOT.
● Agent commission will be automatically
credited into Agent’s savings account after deducting the TDS.
● In case of other Bank cheques, Counter PA
will not post the entries.
● Cheque will first be sent for clearance
after lodging them into Office Account called, “Account Opened through
Cheque”
● Once credit comes into this office account,
the LIST is to be posted by debiting that Office Account.
● All entries of all agent Lists will then be
printed in the Counter LOT after verification by Supervisor.
Therefore, it is advised that only
one counter should be identified for accepting agent LISTs.
● In case, any agent finds it difficult to
operate Agent Portal and brings either printed or handmade copy of List,
Counter PA can enter as Super User into Agent Portal and make entries on
behalf of that agent.
● After List is printed on behalf of agent,
the rest is the same procedure.
To the extent possible all MPKBY agents
should be encouraged to use Agent Portal themselves for which User Champions
can train them in WCTCs in batches.
There is no provision to keep the posting of
RD agent list pending in Finacle CBS.
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Maintenance of stock of Passbooks.
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In Sanchay Post, Passbook stock and supply
is maintained.
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● Finacle CBS application does not support
maintenance of stock and supply of Passbooks.
● After Migration to CBS, Passbook stock and
supply is to be maintained manually.
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Maintenance of Office accounts
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There is no concept of Office Accounts in
Sanchay Post as it is based on Single Entry system.
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● Finacle CBS Application is based on Double
Entry Accounting system.
● Every entry into Finacle CBS has two legs
i.e Debit/withdrawal and Credit/Deposit.
● Many Office Accounts have been opened for
taking care of the second leg of posting.
● List of Transactions are also printed based
on the second leg of posting and General Ledger Balances/Scheme-wise
● Balances in an office are also created with
the second leg of posting.
● Some of the Office Accounts are operated by
Counter PAs and Supervisors and some are maintained by the System itself.
● On day one of Go Live, list of office
Accounts to be operated by the staff will be provided by FSI Team.
Many of these office accounts have to be
watched by SBCO or Postmaster or Division /Region/Circle/DAP Offices in the
shape of reports.
List of Office Accounts to be used by
Counter Pas and Supervisors is attached as Annexure-I
List of Office Accounts to be watched by
SBCO or Postmaster or Division/Region/Circle/DAP Offices is attached as
Annexure-II.
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Shifting of signature scanning and other
related work to Circle Processing Center (CPC).
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In Sanchay Post, signatures are scanned at
the Post Office counter. There is provision of signature scanning in SOSB and
also no provision for photo scanning in Sanchay Post.
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● On implementation of Finacle CBS
application, a document scanning and storage system called ECMS is also being
implemented.
● On opening of account, the Counter PA has to
take additional signatures on the perforated slip of new Account Opening Form
(AOF)and paste the same in SS Book after tearing from AOF.
● AOF alongwith KYC documents will be sent to
CPC on daily basis where KYC documents will be once again matched with AOF
and on acceptance, AOF and KYC documents will be scanned in ECMS and uploaded
into Finacle Core.
● The scanned images will be available in both
ECMS and Finacle CBS and any CBS post office will be able to see these
documents.
● Photo and signature will be separately
stored for ready reference in all Finacle withdrawal and closure screens and
can be accessed using the “SVS” icon provided.
● Physical documents will be sent back to
concerned Post Office by CPC.
● Any rejected AOF will also be returned to
Post Office with KYC document mentioning the reason for rejection.
● Post Office will get the rectification done
and resubmit the documents with AOF to CPC for further process.
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Transfer of accounts/certificates between
finacle CBS and non finacle CBS Post Offices.
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In Sanchay Post, there is a provision to
transfer any account to any post office and it generates Advice of Transfer
along with Transfer Journals.
Certificates issued by other offices can be discharged under the option
Discharged at Other Offices after verification.
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● In Finacle CBS application, the account can
be transferred to any CBS post office only.
● Similarly, non CBS post office can transfer
account/certificate to Non CBS post Office only.
● In Finacle CBS Application, there is no need
to generate any AT or Transfer General or do the pairing.
● Only, the post office, after satisfying the
genuiness of depositor, has to change the home SOL (post Office) of the
account and account will be transferred instantly.
● A report can be generated showing accounts
transferred from one SOL to another in all CBS post offices.
● Certificates issued from non CBS Post
Offices cannot be discharged at CBS Post Offices.
● Certificates issued from CBS post offices
can be discharged at any CBS post office by changing the home SOL of the
certificates.
● PPF and SCSS accounts can be transferred IN
and Out from CBS post offices to Banks and from Banks to Post Office.
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Cheque clearance
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In Sanchay Post, cheques are entered against
account numbers and in case of new accounts marking as New Account against
Account number.
Lists are printed and sent to HO along with
cheques.
In HO, cheques of SOs and HO are combined
and handed over to Treasurer along with list for clearing.
Treasurer is attending Clearing House
activities and after getting clearance, intimated the HO Counter about
credit.
HO Counter accounts are credited and
reflected in LOT and SO’s cheques are credited at HO under Part-II and
intimation is sent to concerned SO under part-III for posting in SO ledger.
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● In Finacle CBS application, except in
Savings Accounts, Cheques cannot be lodged/entered against relevant account
numbers.
● It has a full fledged Cheque Clearing
Module. Full fledged Cheque Clearance Module of Finacle CBS will be
implemented when A HO and its all SOs are migrated to CBS.
● Cheque are to lodged against an Office
Account created as “ Account opened through Cheque”.
● The procedure for handling cheque clearance
in Finacle CBS is totally different from Sanchay Post.
● Till CSI, comes, the present cheque
clearance will be handled by the Treasurer in the same way as these are
handled today.
● Treasurer will be handed over two
lists, i.e one of Sanchay Post and another of Finacle CBS.
● Posting of cheques lodged in Finacle will be
done in Finacle CBS at HPO level itself and there will be no need to send any
intimation to SO for posting.
● In case of new accounts, SO can see the
credit happen in Office Account of HO and can open and fund/make deposit in
account from the office account putting date of credit as value date.
● Once CSI comes, the clearing house
activities will be handled by Treasurer by using Finacle CBS cheque clearing
module.
It is advised to convince the depositors to
first open Savings Account in Post Office and then present POSB Cheque
instead of other Bank Cheques which will save clearing time also.
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Account opening through cheque
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In Sanchay Post, there is no concept of
Office Accounts and account opened through cheques can be opened and credited
by selecting the cheque details from the list of cheques prepared in Sanchay
Post.
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● In Finacle, Cheques of other Banks cannot be
lodged against the scheme or account number.
● The cheques are to be lodged in Office
Account and once credit is received, the account can be funded/deposited by
debiting/withdrawing amount from that Office Account.
● While opening new accounts after getting
credit information in Office Account, the Counter PA has to enter the cheque
details in Remarks field of Finacle screen so that Cheque number can be
captured/entered and shown in the remarks column of LOT.
● The cheque detail field in account opening
screen is for entering POSB Cheque details only.
● After opening or during opening of
account, amount of deposit can be credited by debiting the office account.
● Other Bank Cheque details will not be
automatically captured by the system from office account during account
opening. However, POSB Cheque detail can be entered in while account opening.
Therefore, it is advised to
convince the customer to first open Savings Account and present POSB Cheque
or if he gives other Bank Cheque, that can be lodged against his savings
account for automatic credit after clearance. From customer Savings Account,
the new account can be funded/credited on opening.
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Subsequent deposits through cheque
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In case of RD and PPF, many depositors pay
the monthly installment or subscription in PPF through other Bank Cheques.
At present the rule is that in case of RD,
date of presentation of cheque is the date of deposit.
This rule is going to be changed soon. Date
of credit will be the date of deposit.
In Sanchay Post, these cheques can be
lodger/entered against their RD and PPF accounts and once intimation of
clearance is received, credit can be given by just selecting the relevant
cheque number from the list.
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● In Finacle, as stated above, other bank
cheques cannot be directly lodged/credited against relevant RD or PPF
accounts.
● Cheques have to be lodged against designated
Office Account and after getting clearance information, each and every
deposit is to be made in the relevant RD and PPF account by debiting that
identified office account.
● There are chances of mistakes and the
procedure is time consuming also
Therefore, it is advised to pursue such RD
and PPF customers to open Post Office Savings account, avail value added
services like ATM Card, Internet Banking, Mobile Banking and issue POSB
Cheque for subsequent deposit. This will also save time taken in clearing of
other Bank Cheque.
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Claim closure
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In Sanchay Post, the Counter PA has to enter
date of death and all other calculations are done by the Sanchay Post system.
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● In Finacle CBS application, different
processes are to be followed for different death claim cases.
● CIF of the deceased has to be suspended and
date of death is to be entered in CIF.
● In case, nominee or legal heir wants to
continue account, his/her CIF has to be created and existing account has to
be attached with new CIF.
● All the nominees or legal heirs have to come
together to claim amount as there is no provision to keep the amount in the
account for the nominee or legal heir who does not claim along with other
one.
In case of new accounts, it is better to
advise the depositor to make nomination only in the name of one person.
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Half Withdrawal in RD and Loan in PPF .
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In sanchay post, There is a provision for
Half W/D and as a result, balance is reduced.
In PPF, Loan amount is calculated by Sanchay
and balance is reduced from the existing account balance.
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● In Finacle, there is no concept of Half
Withdrawal. Instead, a separate Loan Account is opened in RD for Half
Withdrawal.
● Loan account is also having separate number
with 1 suffixed to the original account number.
● Amount of Loan/Half W/D is not reduced from
balance and instead, a lien is marked for that amount so that at the time of
PMC, this amount is not paid.
● At the time of closure of RD account where
loan is taken, Counter PA has to first close RD Loan Account.
● For PPF loan also, Loan account is opened
separately and have an account number with 1 suffixed to the original account
number.
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End of Day
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Day end in sanchay post is done separately
for each office.
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● The End of Day process in Finacle is done in
three parts – First at SO, then at HO and the last part at the Data Centre
level for date changeover..
● SO has to run, SOL validation command before
leaving office and clear all pending transactions.
● At HO, System Administrator will do End of
Day for HO as well as all SOs under HO.
● Once all HOs do the EOD, at Data Centre, EOD
of the Department has to happen.
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Standing Instruction
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Only the account numbers are entered and the
date of execution is picked automatically by the software.
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● In Finacle, SI always originates from SB
accounts
● MIS and TD interest to SB account is not
termed as SI in Finacle CBS but termed as Customer Instruction.
● While entering SI in Finacle,
frequency and date of execution have to be entered positively.
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RD-claim closure where Advance deposits are
made
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Claim is allowed up to the date of claim.
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● In Finacle CBS, RD Claim is allowed only
till the month in which depositor expired and the remaining advance deposits
paid would be refunded without any interest.
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Loan repayment through Agent bulk list
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In Sanchay post there is a provision to
remit repayment of loan amount
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● In finacle, the loan repayment is not
allowed to be made through Agent Portal.
● The same has to be done across the counter
by the depositor or agent on behalf of agent.
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Repayment of Loan entries
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Loan repayment is done as part of deposit.
Loan repayment should be accompanied with monthly deposit and Loan can be
paid either in Lump Sum or in monthly installments.
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● In Finacle CBS, repayment of loan can be
done any time with any amount.. For
this, Counter PA has to select option of Unscheduled payment.
● Unscheduled repayment entries to be paid
through HLAUPAY.
● For generation of interest, a menu to be
invoked. If repayment is done using HPAYOFF Interest will be generated.
● In Finacle CBS, Lump Sum deposit is called
Bullet Payment.
Courtesy SAPOST.BLOGSPOT.IN
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