Issues
|
Process in Sanchay Post
|
Process in Finacle
|
Post
Office
|
For
each Post Office, PO Code is allotted.
|
·
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.
|
Account
number
|
In
Sanchay Post, account number is generated from the block of accounts allotted
for different schemes.
|
·
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.
|
Cash
Handling
|
In
Sanchay Post, there is no provision of handling cash.
Cash
is handled in SB Cash.
|
·
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.
|
Account
opening with CIF
|
There
is no process of creation of CIF in Sanchay Post
|
·
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.
|
Use of SS Book
|
In
HPOs and most of the SOs where Sanchay Post is working, SS Book is not
maintained.
|
·
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.
|
Entering of Date
of Birth and Last name
|
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.
|
·
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.
|
Opening of
account by minor of the age between 10-18 years without guardian
|
Sanchay
Posts treats such accounts as Individual Accounts.
|
·
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.
|
Funding
of accounts
|
In Sanchay Post ,
there is a process of accepting deposit at the time of account opening and
purchase of certificates.
|
·
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.
|
Validation
of minimum amount of deposit and withdrawal
|
Sanchay Post does
not allow deposit and withdrawal in Savings Account for amount less than
Rs.5/-.
|
·
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.
|
Payment
of interest in MIS,TD, SCSS etc.
|
In Sanchay Post,
interest is credited into the MIS/TD/SCSS Accounts and also paid from the
accounts.
|
·
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.
|
In Sanchay Post Savings/NSS/PPF
account closure, all calculations of closing interest are done by the
software.
|
·
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.
|
Inventory
process
|
Inventory process in
Sanchay Post can be maintained for SO/HO
with Invoice number details etc.
|
·
Process of
inventory of certificates and cheque books is different in Finacle CBS
application.
|
Process
change for certificate name transfer.
|
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.
|
·
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.
|
Certificate
issue (linkage with printing of certificates)
|
In Sanchay Post, on issue
of certificate from the substock, certificate is automatically reduced from
stock held. But this is different in finacle.
|
·
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.
|
NC4a
issue
|
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.
|
·
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.
|
Sanchaya Post has
the provision to accept RD Bulk Lists without posting and post transaction at
a later date with back dated posting.
|
·
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.
|
RD
Agent Portal
|
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
|
·
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.
|
Maintenance of
stock of Passbooks.
|
In Sanchay Post,
Passbook stock and supply is maintained.
|
·
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.
|
Maintenance
of Office accounts
|
There is no concept
of Office Accounts in Sanchay Post as it is based on Single Entry system.
|
·
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).
|
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.
|
·
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.
|
Transfer
of accounts/certificates between finacle CBS and non finacle CBS Post Offices.
|
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.
|
·
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.
|
Cheque
clearance
|
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
|
·
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.
|
Account
opening through cheque
|
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.
|
·
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
·
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.
|
Subsequent
deposits through cheque
|
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.
|
·
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,
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|
Claim
closure
|
In Sanchay Post, the
Counter PA has to enter date of death and all other calculations are done by
the Sanchay Post system.
|
·
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.
|
Half
Withdrawal in RD and Loan in PPF .
|
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.
|
·
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.
|
End
of Day
|
Day end in sanchay post
is done separately for each office.
|
·
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.
|
Standing
Instruction
|
Only the account
numbers are entered and the date of execution is picked automatically by the
software.
|
·
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.
|
RD-claim
closure where Advance deposits are made
|
Claim is allowed up
to the date of claim.
|
·
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.
|
Loan
repayment through Agent bulk list
|
In Sanchay post
there is a provision to remit repayment of loan amount
|
·
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.
|
Repayment
of Loan entries
|
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.
|
·
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.
|
·
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|
||
Sunday, 18 January 2015
Major issues where the process in Sanchay Post and Finacle CBS Application differs
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