Patch deployment for RD/PPF/SSA without default fee – SB order 16/2020

Dear Teams,
​Patch for implementing SB order No.16/2020 dated 11/04/2020 for RD default fee is deployed in Production. RD default fee is to be collected only for the deposits defaulted on or before 29th February 2020.  Default fee is waived off for RD installments from March 2020. This is implemented for deposits made through FINCORE / all channels (EB / MB / RICT / IPPB).
Patch for accepting previous financial year transactions of PPF / SSA accounts without default fee through EBanking is now deployed. In EBanking, while depositing in PPF / SSA accounts, users need to select financial year (2019-2020 or 2020-2021) for which deposit is made. Customers are to be instructed to deposit​ for previous FY and current FY separately. For matured PPF accounts, deposits can be made only after the account is extended at the SOL.​

With regards

Giriraj Ponnambalam
Deputy Manager (CBS)
Centre for Excellence in Postal Technology, Chennai 600002
044-28543481, +91 94441 08080

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