SB Order No. 18A/2023, issued by the Department of Posts, introduces an addendum to streamline the handling and payment procedures for non-migrated accounts and certificates in Finacle CBS. This SOP aims to address concerns regarding discontinued schemes and ensure smooth operations in post office savings banks.
SB Order No. 18A/2023
No. CBS-25/96/2021-FS-DOP
Government of India
Ministry of Communications
Department of Posts
(Financial Services Division)
Dak Bhawan, New Delhi — 110001
Dated: 08.04.2024
Addendum
To
All Head of Circles / Regions
| Subject: Standard Operating Procedure for handling / payment of accounts / certificates non-migrated to Finacle CBS — Reg. |
Madam / Sir,
This has the reference to the SB Order No. 18/2023 dated 13.09.2023. Various references have been received in this office regarding non-availability of the Standard Operating Procedure (SOP) for handling the non-migrated accounts / certificates in respect of discontinued schemes e.g., Indra Vikas Patra (IVP) etc. Hence, the following Office Accounts have been created in Finacle for handling such discontinued schemes:
| SI. No. |
Scheme | Account Name | GL Sub Head |
Account Number |
| 1 | 5 Years CTD | NON MIG – 5 YEARS CTD | 30038 | SOLID+MX141 |
| NON MIG – INTEREST ON 5 YEARS CTD | 37074 | SOLID+MX436 | ||
| 2 | 10 Years CTD | NON MIG – 10 YEARS CTD | 30039 | SOLID+MX142 |
| NON MIG – INTEREST ON 10 YEARS CTD | 37049 | SOLID+MX411 | ||
| 3 | 15 Years CTD | NON MIG – 15 YEARS CTD | 30040 | SOLID+MX143 |
| NON MIG – INTEREST ON 15 YEARS CTD | 37050 | SOLID+MX412 | ||
| 4 | FD 5 years | NON MIG – FD 5 YEARS | 30041 | SOLID+MX139 |
| NON MIG – INTEREST ON FD 5 YEARS | 37051 | SOLID+MX413 | ||
| 5 | Mahila Samridhi Yojna (MSY) | NON MIG – Mahila Samridhi Yojna (MSY) | 32004 | SOLID+MX138 |
| 6 | Compulsory Deposit
Scheme 1963 |
NON MIG – COMPULSORY DEPOSIT SCHEME 1963 | 32005 | SOLID+MX140 |
| NON MIG – INTEREST ON COMPULSORY DEPOSIT SCHEME 1963 | 37057 | SOLID+MX419 | ||
| 7 | Indira Vikas Patras | NON MIG – INDIRA VIKAS PATRA | 32006 | SOLID+MX144 |
| NON MIG – INTEREST ON INDIRA VIKAS PATRA | 37058 | SOLID+MX420 | ||
| 8 | National
Development Bonds |
NON MIG – NATIONAL DEVELOPMENT BONDS | 32007 | SOLID+MX145 |
| NON MIG – INTEREST ON NATIONAL DEVELOPMENT BONDS | 37059 | SOLID+MX421 | ||
| 9 | 10 Years SSC | NON MIG – 10 YEARS SSC | 32008 | SOLID+MX146 |
| NON MIG – INTEREST ON 10 YEARS SSC | 37052 | SOLID+MX414 | ||
| 10 | National Defence certificate 12 Years | NON MIG – NATIONAL DEFENCE CERTIFICATE | 32009 | SOLID+MX147 |
| NON MIG – INTEREST ON NATIONAL DEFENCE CERTIFICATE | 37053 | SOLID+MX415 | ||
| 11 | 10 Yrs Defence Deposit Certificate |
NON MIG – 10 YEARS DEFENCE DEPOSIT CERTIFICATE | 32010 | SOLID+MX148 |
| NON MIG – INTEREST ON 10 YEARS DEFENCE DEPOSIT CERTIFICATE | 37054 | SOLID+MX416 | ||
| 12 | National Saving Annuity Certificate | NON MIG – NATIONAL SAVINGS ANNUITY CERTIFICATE | 32011 | SOLI D+MX149 |
| NON MIG – INTEREST ON NATIONAL SAVINGS ANNUITY CERTIFICATE | 37055 | SOLID+MX417 | ||
| 13 | 12 Yr National Plan Saving Certificate | NON MIG – 12 YR
NATIONAL PLAN SAVING CERTIFICATE |
32012 | SOLID+MX150 |
| NON MIG – INTEREST ON 12 YR NATIONAL PLAN SAVING CERTIFICATE | 37060 | SOLID+MX422 | ||
| 14 | 10 Year National Plan Saving Certificate | NON MIG – 10 YEAR NATIONAL PLAN SAVING CERTIFICATE | 32013 | SOLID+MX151 |
| NON MIG – INTEREST ON 10 YEAR NATIONAL PLAN SAVING CERTIFICATE | 37061 | SOLID+MX423 | ||
| 15 | 12 Years National Saving Certificate |
NON MIG – 12 YEARS NATIONAL SAVING CERTIFICATE | 32014 | SOLID+MX152 |
| NON MIG – INTEREST ON 12 YEARS NATIONAL SAVING CERTIFICATE | 37062 | SOLID+MX424 | ||
| 16 | 7 Years National Saving Certificate |
NON MIG – 7 YEARS NAT SAVING CERTIFICATE | 32015 | SOLID+MX153 |
| NON MIG – INTEREST ON 7 YEARS NAT SAVING CERTIFICATE | 37063 | SOLID+MX425 | ||
| 17 | 5 Year National Savings Certificate |
NON MIG – 5 YEAR NATIONAL SAVINGS CERTIFICATE | 32016 | SOLID+MX154 |
| NON MIG – INTEREST ON 5 YEAR NATIONAL SAVINGS CERTIFICATE | 37064 | SOLID+MX426 | ||
| 18 | NSC 1st Issue | NON MIG – NSC 1ST ISSUE |
32017 | SOLID+MX155 |
| NON MIG – INTEREST ON NSC 1ST ISSUE | 37065 | SOLID+MX427 | ||
| 19 | NSC II-Issue | NON MIG – NSC II ISSUE | 32018 | SOLID+MX156 |
| NON MIG – INTEREST ON NSC II ISSUE | 37066 | SOLID+MX428 | ||
| 20 | NSC III-Issue | NON MIG – NSC III ISSUE | 32019 | SOLID+MX157 |
| NON MIG – INTEREST ON NSC III ISSUE | 37067 | SOLID+MX429 | ||
| 21 | NSC IV-Issue | NON MIG – NSC IV ISSUE | 32020 | SOLID+MX158 |
| NON MIG – INTEREST ON NSC IV ISSUE | 37068 | SOLID+MX430 | ||
| 22 | NSC V-Issue | NON MIG – NSC V ISSUE | 32021 | SOLID+MX159 |
| NON MIG – INTEREST ON NSC V ISSUE | 37069 | SOLID+MX431 | ||
| 23 | NSC VI-Issue | NON MIG – NSC VI ISSUE | 32022 | SOLID+MX160 |
| NON MIG – INTEREST ON NSC VI ISSUE | 37070 | SOLID+MX432 | ||
| 24 | NSC VII-Issue | NON MIG – NSC VII ISSUE | 32023 | SOLID+MX161 |
| NON MIG – INTEREST ON NSC VII ISSUE | 37071 | SOLID+MX433 | ||
| 25 | 10 Years NSC First issue | NON MIG – 10 YEARS NSC 1ST ISSUE | 32024 | SOLID+MX162 |
| NON MIG – INTEREST ON 10 YEARS NSC 1ST ISSUE |
37072 | SOLID+MX434 | ||
| 26 | 5 Year PO CashCertificates |
NON MIG – 5 YEAR PO CASH CERTIFICATES | 32025 | SOLID+MX163 |
| NON MIG – INTEREST ON 5 YEAR PO CASH CERTIFICATES | 37073 | SOLID+MX435 |
2. Accordingly, Standard Operating Procedure (SOP), to handle non-migrated POSB account(s) / certificate(s) in Finacle, circulated vide SB Order No. 18/2023 dated 13.09.2023 shall also be followed for handling of the non-migrated accounts / certificates pertaining to the schemes listed in the previous para.
3. Further, in Para 4 of the SOP circulated in SB Order No. 1812023 dated 13.09.2023, it is clearly mentioned that the said procedure may be followed in the cases, where payment to the Depositor(s) / Claimant(s) arises due to wrong balance migration, wrong date of opening of account or wrong date of transaction etc. in CBS. In this connection, it is emphasized that while closing the account in Finacle, if the system shows excess payment due to the error in migrated data, payment should not be made through credit to other bank accounts.
For clarity regarding handling these transactions at post offices, following illustrations may be referred.
Illustration-1
|
(When Account is migrated in wrong scheme) Assume that one NSS-87 account bearing Number 987xxxxx10 opened on 02.03.1989 having a balance of ! 3,25,420/- as on 31.03.2023 is received for closure in the counter at Chennai GPO (SOL ID 60000100) and Counter Assistant found that the account was wrongly migrated as NSS-92 account in Finacle. In such case, the following transactions are to be performed. (i). NSS-87 Account will be closed by following the procedure prescribed in SB Order No. 18/2023. (ii). In addition, on the day of closure of NSS-87 account, the NSS-92 account (same account number) which is a wrongly migrated account has to be closed in Finacle and the maturity amount may be credited in SOLID+0340 and no cheque payment shall be made. NSS-92 Closure Details: Principal Amount payable — 3,25,420/- Current Year Interest — 22,373/- Maturity Amount — 3,47,793 (iii) In addition, the following transaction entries are to be made in Finacle using HTM menu, for contra accounting. |
|
| Debit | Credit |
| Postmaster’s Cheque account SOL ID+0340 – Z 3,47,793/- | 60000100MXN9P — Rs. 3,25,420/- 60000100MXN9I — Rs. 22,373/- |
| Field (s) | Details to be entered |
| Transaction Particulars | NSS-87 A/C 987xxxxx10 – Wrongly Migrated as NSS-92 (Maximum 50 Characters) |
Illustration — 2
|
(When date of opening of the account is wrongly migrated and resulting in excess payment to the Depositor) Assume that a KVP with Denomination ! 15,000/- (Serial No. 4EFxxxx86) issued on 04.12.2015, in the name of Smt. Lavanya attends Lodi Road HO (SOL ID — 11000300) for maturity closure on 04.04.2024. While checking in Finacle it was found that the date of issue of KVP was wrongly migrated as 04.08.2015 instead of 04.12.2015. The actual payment to be made to customer is Rs. 30,000/-, but in Finacle maturity amount is shown as t 30,400/-. Hence, there will be an (i). KVP account shall be closed normally and maturity payment shall be credited into Post Office Savings. Account or made through Postmaster’s Cheque as follows: (a) If the payment opted to be made through credit into Post Office Savings Account (POSA): the following transaction entries are to be made in Finacle using HTM menu, for contra accounting. |
||
| Debit | Credit | |
| Customer’s Savings Account – Rs. 400/- | 11000300MXKNI — Rs. 400/- | |
| Field (s) | Details to be entered | |
| Remarks 1 | Excess Payment (Maximum 30 Characers) | |
| Transaction Particulars | KVP 4EFxxxx86 dt. 04.12.2015—Date wrongly migrated (Maximum 50 Characteis | |
| (b) If the payment opted to be made through Postmaster’s Cheque: the following transaction entries are to be made in Finacle using HTM menu, for contra accounting. | ||
| Debit | Credit | |
| 110003000340 – Rs. 400/- | 11000300MXKNI — Rs. 400/- | |
| Field (s) | Details to be entered | |
| Remarks 1 | Excess Payment (Maximum 30 Characters) | |
| Transaction Particulars | KVP 4EFxxxx86 dt. 04.12.2015—Date wrongly migrated (Maximum 50 Characters) | |
| Note: No cash payment should | be made and there is no facility for credit in other the payment is made through cheque, the cheque amount i.e. ! 30,000/- | |
| bank savings account. When should be issued for actual maturity | ||
Illustration-3
|
(When date of opening of the account is migrated wrongly, resulting short payment to the Depositor) Assume that a KVP with Denomination Z 50,000/- (Serial No. 7FGxxxx76) issued on 04.12.2015, in the name of Smt. Mamta Chatterji attends Kolkata GPO (SOL ID — 70000100) for maturity closure on 04.04.2024. While checking in Finacle it was found that the date of issue of KVP was wrongly migrated as 04.12.2016 instead of 04.12.2015. The actual payment to be made to customer is Z 1,00,000/-, but in Finacle maturity amount is shown as Z 83,550/-. Hence, there will be a short payment of Z 16,450/-. (i). KVP account shall be closed normally and maturity payment shall be credited either to Savings Account or payment shall be made through Cheque. (ii). In addition, the following transaction entries are to be made in Finacle using HTM menu, for contra accounting. |
|
| Debit | Credit |
| 70000100MXKNI — Z 16,450/- | Customer’s Savings Account or 700001000340 -! 16,450/- (as the case may be) |
| Field (s) | Details to be entered |
| Remarks 1 | Short Payment (Maximum 30 Characters) |
| Transaction Particulars | KVP 7FGxxxx76 dt. 04.12.2015—Date wrongly migrated (Maximum 50 Characters) |
4. Since the office account No. SOLID+0340 is debit frozen account, a request may be sent to Central EOD Team / CEPT through email (cbscept@indiapost.gov.in & cbs-cept@indiapost.gov.in) for allowing debit in the office account concerned through CPC, before processing in Finacle.
5. It is requested to circulate it to all concerned for information, guidance and necessary actions.
6. This issues with the approval of the Competent Authority.
Yours faithfully,
(Devender umar Sharma)
Assistant Director (SB-II)
Copt/ to: –
1. PPS to Secretary (Posts)
2. PS to Director General Postal Services.
3. PPS/ PS to Addl. DG (Co-ordination)/Member (Banking)/Member (0)/Member (P)/ Member (Planning & HRD)/Member (PLI)/Member (Tech)/AS & FA.
4. Director General, APS, New Delhi.
5. Chief General Manager, BD Directorate / Parcel Directorate / PLI Directorate.
6. Deputy Director General (Vig) & CVO) / Sr. Deputy Director General (PAF).
7. Director, RAKNPA / Directors of all PTCs.
8. Director General P & T (Audit), Civil Lines, New Delhi.
9. Secretary, Postal Services Board / All Deputy Directors General.
10. All General Managers (Finance) / Directors Postal Accounts / DDAP.
11. The Under Secretary, MOF (DEA), NS-II Section, North Block, New Delhi.
12. The Joint Director & HOD, National Savings Institute, ICCW Building, 4 Deendayal Upadhyay Marg, New Delhi-110002.
13. All recognized Federations / Unions / Associations
14. ADG (OL) for information and Hindi Translation of SB Order.
15. GM, CEPT for information and uploading this order on India Post Website.
16. Guard File/e-File.
(Devender Kumar Sharma)
Assistant Director (SB-II)
