SOP for handling / payment of accounts / certificates non-migrated to Finacle CBS

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 excess payment of Z 400/-. (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)