Showing posts with label cbs. Show all posts
Showing posts with label cbs. Show all posts
PPF Account Closure procedure in DOP Finacle
PPF Closure (without loan)
1. Counter PA has to invoke HCAAC menu for closure.
2. Interest for current financial year will be calculated and posted in the PPF account.
3. System generated transaction ID will be created.
4. Supervisor has to verify the account closure using HCAAC menu.
5. In some cases, when the supervisor tries to verify the account closure, if the Tran ID (generated in step 3) is in Entered state, then the error message ‘Pending verification exists for the account’ will be displayed.
6. Tran ID if not noted down in step 3, it has to be obtained from HFTI menu by selecting the transaction status ‘Entered’ (Tran ID generated against the PFF account number will be shown).
7. In Counter PA login, in HTM – Modify option, this Tran ID is to be posted.
8. In Supervisor login, in HTM, this Tran ID is to be verified.
9. After verification of the transaction, in HCAAC menu, the closure has to be verified.
PPF Closure (with loan)
1. Counter PA has to invoke loan repayment using CPDTM menu.
2. Supervisor has to verify the transaction in CPDTM menu.
3. CLPR menu (PROCESS) has to be invoked by Supervisor for processing loan account.
4. Then, HACINT is to be invoked by CEPT team (at present). On invoking this, the interest for loan account is calculated and posted in PPF loan account.
5. The loan interest has to be paid through CPDTM menu again, if the PPF account is not a matured account.
6. The loan interest has to be recovered through CPWTM menu, if the PPF account is a matured account.
7. Closure of loan account has to be invoked using HCAAC by counter PA.
8. Closure has to be verified by Supervisor using HCAAC menu.
9. For closing PPF account, the procedure for closure of PPF account without loan has to be followed.
Source- SA POST
Procedure to find common no of live accounts & No of accounts opened in a particular Period
Procedure to find common no of live accounts & No of accounts opened in a particular Period
Finacle MIS Url : https://dpdcpflmis.fsi.indiapost.gov.in:1443/finbranch/ui/SSOLogin.jsp
Userid and password - login with supervisor only
command - HFINRPT
Report Option - common no of live accounts
from date -01-11-2016
To date- 30.11.2016
solid - give your solid
- Then generate Report and in HPR menu find the no of live accounts for each scheme.
To know the No. of Accounts opened in a particular period
Step by Step Procedure in Detail
1. Invoke HACS menu
2. Enter SOL ID
3. Enter General Ledger Subhead Code (Click on the Searcher to know the code for a particular scheme)
4. Enter Scheme Code
5. Enter Open Date (Low) - From date
6. Open Date (High) - To date
7. Select Include Closed A/cs as NO (By default, it is selected as NO only)
8. Click on SUBMIT (F10)
9. System will display the number of accounts opened in that particular period along with the list.
SOME GENERAL LEDGER SUB HEAD CODES
SB:30001
RD:30010
MIS:30016
1TD:30011
2TD:30012
3TD:30013
5TD:30014
SSA:30042
SOME SCHEME CODES
SBGEN
RDIPN
MISN1
TDIP1
TDIP2
TDIP3
TDIP5
SSA
last date for using OHD notes extended till 14.11.2016 – Finmin Orders
Press Information Bureau
Government of India
Ministry of Finance
11-November-2016 19:14 IST
Government extends existing exemptions with regard to cancellation of the legal tender character of the existing series of high denomination bank notes of Rs.500 and Rs.1,000 denominations until the expiry of 14th November, 2016, with certain modifications / additions to the existing exemptions; Governments reassures that there is enough cash with RBI and Supply of cash to Bank branches and ATMs are being stepped up gradually.
While cancelling the legal tender character of the existing series of high denomination bank notes of Rs.500 and Rs.1,000 denominations w.e.f. the expiry of the 8th November, 2016, exemptions were allowed for certain transactions for the first 72 hours with a view to minimizing inconvenience to the public. Subsequently, based on feedback received from various quarters, certain more transactions were included for exemption.
The Government has been closely monitoring the implementation of the decision. Considering various representations received from different quarters in the matter, it has now been decided that the existing exemptions may be extended until the expiry of 14th November, 2016, with the following modifications / additions to the existing exemptions:
(i) Payment for court fees will be included in the exemptions.
(ii) The ID proof of customers will be required for transactions in consumer cooperative stores.
(iii) Payments towards utility bills will be restricted to only individuals / households for arrears and / or current bills. No advance payments will be allowed.
(iv) Payments in toll-plazas of the State and National Highways will be deleted from exemptions, considering that the Ministry of Road Transport and Highways is separately issuing instructions in this regard.
There is enough cash with RBI. Supply of cash to Bank branches and ATMs are being stepped up gradually.
OHD notes, Finmin Orders
Rs 500 and Rs 1000 notes banned: Your questions answered by the RBI
Why this scheme?
The incidence of fake Indian currency notes in higher denomination has increased. For ordinary persons, the fake notes look similar to genuine notes, even though no security feature has been copied. The fake notes are used for anti-national and illegal activities. High denomination notes have been misused by terrorists and for hoarding black money. India remains a cash based economy hence the circulation of Fake Indian Currency Notes continues to be a menace. In order to contain the rising incidence of fake notes and black money, the scheme to withdraw has been introduced.
What is this scheme?
The legal tender character of the notes in denominations of Rs 500 and Rs1000 stands withdrawn. In consequence thereof withdrawn old high denomination (OHD) notes cannot be used for transacting business and/or store of value for future usage. The OHD notes can be exchanged for value at any of the 19 offices of the Reserve Bank of India or at any of the bank branches or at any Head Post Office or Sub-Post Office.
How much value will I get?
You will get value for the entire volume of notes tendered at the bank branches / RBI offices.
Can I get all in cash?
No. You will get upto Rs 4000 per person in cash irrespective of the size of tender and anything over and above that will be receivable by way of credit to bank account.
Why I cannot get the entire amount in cash when I have surrendered everything in cash?
The Scheme of withdrawal of old high denomination(OHD) notes does not provide for it, given its objectives.
Rs 4000 cash is insufficient for my need. What to do?
You can use balances in bank accounts to pay for other requirements by cheque or through electronic means of payments such as Internet banking, mobile wallets, IMPS, credit/debit cards etc.
Also Read: Black is the new white: Secondary real estate transactions to become transparent
What if I don't have any bank account?
You can always open a bank account by approaching a bank branch with necessary documents required for fulfilling the KYC requirements.
What if, if I have only JDY account?
A JDY account holder can avail the exchange facility subject to the caps and other laid down limits in accord with norms and procedures.
Where can I go to exchange the notes?
The exchange facility is available at all Issue Offices of RBI and branches of commercial banks/RRBS/UCBs/State Co-op banks or at any Head Post Office or Sub-Post Office.
Also Read: Why PM Modi’s move will lead to disruption than economic benefit
Need I go to my bank branch only?
For exchange upto 4000 in cash you may go to any bank branch with valid identity proof.
For exchange over 4000, which will be accorded through credit to Bank account only, you may go to the branch where you have an account or to any other branch of the same bank.
In case you want to go to a branch of any other bank where you are not maintaining an account, you will have to furnish valid identity proof and bank account details required for electronic fund transfer to your account.
Can I go to any branch of my bank?
Yes you can go to any branch of your bank.
Can I go to any branch of any other bank?
Yes, you can go to any branch of any other bank. In that case you have to furnish valid identity proof for exchange in cash; both valid identity proof and bank account details will be required for electronic fund transfer in case the amount to be exchanged exceeds Rs 4000.
I have no account but my relative / friend has an account, can I get my notes exchanged into that account?
Yes, you can do that if the account holder relative/friend etc gives you permission in writing. While exchanging, you should provide to the bank, evidence of permission given by the account holder and your valid identity proof.
Should I go to bank personally or can I send the notes through my representative?
Personal visit to the branch is preferable. In case it is not possible for you to visit the branch you may send your representative with an express mandate i.e. a written authorisation. The representative should produce authority letter and his / her valid identity proof while tendering the notes.
Can I withdraw from ATM?
It may take a while for the banks to recalibrate their ATMs. Once the ATMs are functional, you can withdraw from ATMs upto a maximum of Rs.2,000/- per card per day upto 18th November, 2016. The limit will be raised to Rs.4000/- per day per card from 19th November 2016 onwards.
Can I withdraw cash against cheque?
Yes, you can withdraw cash against withdrawal slip or cheque subject to ceiling of Rs10,000/- in a day within an overall limit of Rs.20,000/- in a week (including withdrawals from ATMs) for the first fortnight i.e. upto 24th November 2016.
Can I deposit withdrawn notes through ATMs, Cash Deposit Machine or cash Recycler?
Yes, OHD notes can be deposited in Cash Deposits machines / Cash Recyclers.
Can I make use of electronic (NEFT/RTGS /IMPS/ Internet Banking / Mobile banking etc.) mode?
You can use NEFT/RTGS/IMPS/Internet Banking/Mobile Banking or any other electronic/ non-cash mode of payment.
How much time do I have to exchange the notes?
The scheme closes on 30th December 2016. The OHD banknotes can be exchanged at branches of commercial banks, Regional Rural Banks, Urban Cooperative banks, State Cooperative Banks and RBI till 30th December 2016.
For those who are unable to exchange their Old High Denomination Banknotes on or before December 30, 2016, an opportunity will be given to them to do so at specified offices of the RBI, along with necessary documentation as may be specified by the Reserve Bank of India.
I am right now not in India, what should I do?
If you have OHD banknotes in India, you may authorise in writing enabling another person in India to deposit the notes into your bank account. The person so authorised has to come to the bank branch with the OHD banknotes, the authority letter given by you and a valid identity proof (Valid Identity proof is any of the following: Aadhaar Card, Driving License, Voter ID Card, Pass Port, NREGA Card, PAN Card, Identity Card Issued by Government Department, Public Sector Unit to its Staff)
I am an NRI and hold NRO account, can the exchange value be deposited in my account?
Yes, you can deposit the OHD banknotes to your NRO account.
I am a foreign tourist, I have these notes. What should I do?
You can purchase foreign exchange equivalent to Rs 5000 using these OHD notes at airport exchange counters within 72 hours after the notification, provided you present proof of purchasing the OHD notes.
I have emergency needs of cash (hospitalisation, travel, life saving medicines) then what I should do?
You can use the OHD notes for paying for your hospitalisation charges at government hospitals, for purchasing bus tickets at government bus stands for travel by state government or state PSU buses, train tickets at railway stations, and air tickets at airports, within 72 hours after the notification.
What is proof of identity?
Valid Identity proof is any of the following: Aadhaar Card, Driving License, Voter ID Card, Pass Port, NREGA Card, PAN Card, Identity Card Issued by Government Department, Public Sector Unit to its Staff.
Where can I get more information on this scheme?
Further information is available at our website (www.rbi.org .in) and GoI website (www.rbi.org.in)
The incidence of fake Indian currency notes in higher denomination has increased. For ordinary persons, the fake notes look similar to genuine notes, even though no security feature has been copied. The fake notes are used for anti-national and illegal activities. High denomination notes have been misused by terrorists and for hoarding black money. India remains a cash based economy hence the circulation of Fake Indian Currency Notes continues to be a menace. In order to contain the rising incidence of fake notes and black money, the scheme to withdraw has been introduced.
What is this scheme?
The legal tender character of the notes in denominations of Rs 500 and Rs1000 stands withdrawn. In consequence thereof withdrawn old high denomination (OHD) notes cannot be used for transacting business and/or store of value for future usage. The OHD notes can be exchanged for value at any of the 19 offices of the Reserve Bank of India or at any of the bank branches or at any Head Post Office or Sub-Post Office.
How much value will I get?
You will get value for the entire volume of notes tendered at the bank branches / RBI offices.
Can I get all in cash?
No. You will get upto Rs 4000 per person in cash irrespective of the size of tender and anything over and above that will be receivable by way of credit to bank account.
Why I cannot get the entire amount in cash when I have surrendered everything in cash?
The Scheme of withdrawal of old high denomination(OHD) notes does not provide for it, given its objectives.
Rs 4000 cash is insufficient for my need. What to do?
You can use balances in bank accounts to pay for other requirements by cheque or through electronic means of payments such as Internet banking, mobile wallets, IMPS, credit/debit cards etc.
Also Read: Black is the new white: Secondary real estate transactions to become transparent
What if I don't have any bank account?
You can always open a bank account by approaching a bank branch with necessary documents required for fulfilling the KYC requirements.
What if, if I have only JDY account?
A JDY account holder can avail the exchange facility subject to the caps and other laid down limits in accord with norms and procedures.
Where can I go to exchange the notes?
The exchange facility is available at all Issue Offices of RBI and branches of commercial banks/RRBS/UCBs/State Co-op banks or at any Head Post Office or Sub-Post Office.
Also Read: Why PM Modi’s move will lead to disruption than economic benefit
Need I go to my bank branch only?
For exchange upto 4000 in cash you may go to any bank branch with valid identity proof.
For exchange over 4000, which will be accorded through credit to Bank account only, you may go to the branch where you have an account or to any other branch of the same bank.
In case you want to go to a branch of any other bank where you are not maintaining an account, you will have to furnish valid identity proof and bank account details required for electronic fund transfer to your account.
Can I go to any branch of my bank?
Yes you can go to any branch of your bank.
Can I go to any branch of any other bank?
Yes, you can go to any branch of any other bank. In that case you have to furnish valid identity proof for exchange in cash; both valid identity proof and bank account details will be required for electronic fund transfer in case the amount to be exchanged exceeds Rs 4000.
I have no account but my relative / friend has an account, can I get my notes exchanged into that account?
Yes, you can do that if the account holder relative/friend etc gives you permission in writing. While exchanging, you should provide to the bank, evidence of permission given by the account holder and your valid identity proof.
Should I go to bank personally or can I send the notes through my representative?
Personal visit to the branch is preferable. In case it is not possible for you to visit the branch you may send your representative with an express mandate i.e. a written authorisation. The representative should produce authority letter and his / her valid identity proof while tendering the notes.
Can I withdraw from ATM?
It may take a while for the banks to recalibrate their ATMs. Once the ATMs are functional, you can withdraw from ATMs upto a maximum of Rs.2,000/- per card per day upto 18th November, 2016. The limit will be raised to Rs.4000/- per day per card from 19th November 2016 onwards.
Can I withdraw cash against cheque?
Yes, you can withdraw cash against withdrawal slip or cheque subject to ceiling of Rs10,000/- in a day within an overall limit of Rs.20,000/- in a week (including withdrawals from ATMs) for the first fortnight i.e. upto 24th November 2016.
Can I deposit withdrawn notes through ATMs, Cash Deposit Machine or cash Recycler?
Yes, OHD notes can be deposited in Cash Deposits machines / Cash Recyclers.
Can I make use of electronic (NEFT/RTGS /IMPS/ Internet Banking / Mobile banking etc.) mode?
You can use NEFT/RTGS/IMPS/Internet Banking/Mobile Banking or any other electronic/ non-cash mode of payment.
How much time do I have to exchange the notes?
The scheme closes on 30th December 2016. The OHD banknotes can be exchanged at branches of commercial banks, Regional Rural Banks, Urban Cooperative banks, State Cooperative Banks and RBI till 30th December 2016.
For those who are unable to exchange their Old High Denomination Banknotes on or before December 30, 2016, an opportunity will be given to them to do so at specified offices of the RBI, along with necessary documentation as may be specified by the Reserve Bank of India.
I am right now not in India, what should I do?
If you have OHD banknotes in India, you may authorise in writing enabling another person in India to deposit the notes into your bank account. The person so authorised has to come to the bank branch with the OHD banknotes, the authority letter given by you and a valid identity proof (Valid Identity proof is any of the following: Aadhaar Card, Driving License, Voter ID Card, Pass Port, NREGA Card, PAN Card, Identity Card Issued by Government Department, Public Sector Unit to its Staff)
I am an NRI and hold NRO account, can the exchange value be deposited in my account?
Yes, you can deposit the OHD banknotes to your NRO account.
I am a foreign tourist, I have these notes. What should I do?
You can purchase foreign exchange equivalent to Rs 5000 using these OHD notes at airport exchange counters within 72 hours after the notification, provided you present proof of purchasing the OHD notes.
I have emergency needs of cash (hospitalisation, travel, life saving medicines) then what I should do?
You can use the OHD notes for paying for your hospitalisation charges at government hospitals, for purchasing bus tickets at government bus stands for travel by state government or state PSU buses, train tickets at railway stations, and air tickets at airports, within 72 hours after the notification.
What is proof of identity?
Valid Identity proof is any of the following: Aadhaar Card, Driving License, Voter ID Card, Pass Port, NREGA Card, PAN Card, Identity Card Issued by Government Department, Public Sector Unit to its Staff.
Where can I get more information on this scheme?
Further information is available at our website (www.rbi.org .in) and GoI website (www.rbi.org.in)
Source:-The Economic Times
Migrating residuary data left out during the previous migration
From: Deputy Director (CEPT)
Sent: 14 September 2016 10:01
To: CPMG Assam Circle; CPMG Andhra Pradesh Circle; CPMG Bihar Circle; CPMG Chattisgarh Circle; CPMG Delhi Circle; CPMG Gujrat Circle; CPMG Himachal Pradesh Circle; CPMG Haryana Circle; CPMG Jharkhand Circle; CPMG Jammu & Kashmir Circle; CPMG Karnataka Circle; CPMG Kerala Circle; CPMG Maharashtra Circle; CPMG Madhya Pradesh Circle; CPMG North East Circle; CPMG Orissa Circle; CPMG Punjab Circle; CPMG Rajasthan Circle; CPMG Tamilnadu Circle; CPMG Uttar Pradesh Circle; CPMG Uttarakhand Circle; CPMG West Bengal Circle
Cc: Director (CBS); DDG (Financial Services); Saurabh Gupta; Gopinath S
Subject : Migrating residuary data left out during the previous migration - Important communication - Time bound - Regarding::
Respected Sir(s) / Madam (s),
This is regarding re-migration of residuary (left out) data during the earlier migration. Circles have come up with a request that few quantum of data pertaining to various schemes were left out due to inaccurate digitization and resulting in non-migration of certain accounts (data) during the previous migration of offices.
Hence, it is proposed to identify the quantum of scheme-wise data with SOL ID in the following template and send us the details in the attached excel sheet for further planning and scheduling migrations.
Yours Sincerely,
(V M Sakthivelu)
Deputy Director CEPT
+919444227090
30 lakh debit cards exposed to suspect ATMs?
MUMBAI: Close to 30 lakh debit cards are understood to have been used in ATMs that are suspected to have exposed card and PIN details to malware at the back end.
While State Bank of India+ (SBI) has decided to reissue debit cards to six lakh customers who had used their cards at suspect networks, other banks are asking customers to change their ATM PIN. They are also blocking international transactions that can be conducted without PIN.
The problem relates to the feared breach in the systems of Hitachi Payment Services, which manages the ATM network processing for Yes Bank. The matter came to light around July. The private bank maintained that no compromise had been detected in its ATM network and that the measures were proactive.
The reason why a large number of banks are impacted is that Yes Bank, despite having a small number of ATMs, sees a large number of third-party transactions on its machines.
Yes Bank has undertaken a review of its ATMs, and there is no evidence of a breach or compromise. Yes Bank continues to work with relevant stakeholders, including other public sector and private banks, and NPCI (National Payments Corporation of India), to ensure utmost safety and security of its ATM network and payment services which are completely safe to use," it said.
"The affected systems were quarantined and inspected and the cards that were exposed have been identified and each bank has taken action according to its risk management practices," said a regulatory source. The incident has also compelled RBI to review its reporting framework and it has asked banks to immediately inform the central bank of any suspected fraud. The information would be shared with other banks on 'no-name' basis so that proactive measures can be taken by the industry.
The recent incident also highlights new security challenges for banks. Until now, ATM related thefts were largely a fallout of fraudsters installing skimmers on machines or placing hidden cameras to capture PIN. The fact that neither the regulator nor the affected bank have released details of the malware has led to speculation. Some industry experts said that given the scale of card reissuance by SBI, it looks like a malware had access to the HSM (hardware security module) card which receives card information and PIN.
Loney Antony, MD, Hitachi Payment Services, said "Prima facie the system does not appear to be compromised but I cannot comment until the final report is issued. I do not think it is necessary for any bank to reissue cards. Many banks have asked customers to change their PIN number, but this is a general practice to get customers to keep changing their password," said Antony.
While the number of affected cards is large, it is a small fraction (less than half a percent) of the total number of cards in the country. As per numbers reported by RBI there are 60 crore debit cards in the country.
Source :The Times of India
KYC Norms for India Post Payment Bank
Just a few months before the new crop of payment banks start their operations, their chiefs are a worried lot.
The banking regulator's ask in terms of meeting the Know Your Customer (KYC) norms has put them at par with traditional banks, and firms are concerned that the preference for "paper-based" KYC will be a cost-intensive and time-consuming exercise — and therefore a major impediment to the growth of the new age banks.
Paytm payment bank's CEO Shinjini Kumar told ET that the industry is very "aggrieved" with the Reserve Bank of India (RBI) asking all entities to adhere to the centralised KYC system instead of just relying on the Aadhaar-based eKYC for payment banks. "We are grappling with that problem right now and we are talking to different people. We are hoping that there will be some understanding. Anyway our accounts are capped at Rs 1,00,000. There should be no reason why eKYC should not be the only way to do KYC. It is also digital and more authentic."
Chiefs of Aditya Birla Idea Payments Bank, Sudhakar Ramasubramanian and Vodafone M-pesa payments bank Suresh Sethi also aired similar concerns to ET. They argue that payment banks do not have the same manpower to collect paper-based KYC like traditional banks and given that they are capped at a balance Rs 1,00,000, they do not share the same amount of risk. While RBI had earlier accepted eKYC as a means for customer authentication at the time of opening accounts, the new norms mandate a common KYC across all financial services entities for which detailed KYC is required to be collected and uploaded as a paper form to a central KYC repository — Central Registry of Securitisation Asset Reconstruction and Security Interest of India, or CERSAI.
The idea is to streamline the KYC process and avoid duplication of KYC for customers at multiple agencies. But, for payment banks to be cast under the same net, it means that instead of just relying on the biometric based eKYC they will have to collect more details of their customers and upload them to the central registry. Sudhakar who is the CEO (designate), of Aditya Birla Idea Payments Bank said that in the case of payment banks a phased approach towards KYC will be better received since the whole idea behind the payment banks is towards financial inclusion.
"If we have too many restrictions for someone who keeps Rs 5,000 in the account, it could prevent many of the unbanked from experiencing the benefits of financial services. KYC norms can be applied in a layered manner as the customer's balance and transactions increase," he said.
Digital KYC will help ease the "entry barrier" for such people along with being a more authentic means of KYC than a physical KYC. "Currently, over 90% of all retail transactions are through cash in the country, if these transactions have to be converted into the electronic format, banking will have to be relived from some of these troubles," he added.
Source : The Economic Times
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