General Instructions to SPMs regarding POSB operations
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While performing voucher checking at SBCO, many irregularities are noticed which leads to raise in OMs. Hence to avoid unnecessary increase in number of OMs and also to save time, the below general instructions may please be followed strictly.
CONSOLIDATION:
- Vouchers have to be arranged according to TRANID duly stitched and
- Total No. of vouchers should be written in both BO and SO consolidation.
- Total No. of closed passbook should be written in the consolidation.
- Date stamp should be impressed in the consolidation.
- SPM should duly sign in the consolidation affixing his/her Designation
- Any corrections in the consolidation must be supported with an Error Entry.
SB -103 / PAY – IN SLIP :
- Office Name Stamp has to be affixed in all vouchers.
- Scheme code Transaction ID has to be written in red ink in all vouchers.
- If new account opened, depositor only should sign in the place of signature of depositor.
- If deposit made above 50000/- PAN No. should be written.
- If deposit made for LTI customer, witness obtained with full address.
- If any correction made in A/C No. , Date and Amount in both words and figure get depositor Sign in that place to avoid OMs.
- Avoid using white papers, counterfoils for pay –in-slip (SB-103).
- If account opened through agent, agent details and agent receipt no. has to be noted in Original AOF and Pay-in-slip.
SB-7 / WITHDRAWAL:
- BPM can allow Withdrawal upto Rs.20,000/-
- If the amount withdrawn is above 20000 at BO, two BO date stamp (one in application side and other in payment side) SO Date stamp for passing the withdrawal should be impressed in all vouchers.
- More than one withdrawal in the same a/c should not to be allowed in BO’s in the same day.
- Withdrawal done through LTI, LTI certificate should be affixed separately in application and acquittance side, witness obtained with full address.
- Withdrawal done through guardian, MINOR certificate should be affixed separately in both application and acquittance side with full address.
- For loan withdrawal, certificate has to be made on and no of instalments required for repayment form SB-7C has to be used.
- In any case, BPM should not act as witness for LTI transactions.
- If account opened through agent above 20000, then cheque is to be used for funding the new account.
- New accounts opened through funding from SB account, the customer should give endorsement for opening of new account with attestation.
- Messenger withdrawal shall not be allowed, if done –form 12 should be attached with full details.
- In case of Cheque withdrawal, SS verification, pay cash and paid cash has to be
- In case of SSA half withdrawal – only up to 50% of the balance of the proceeding financial year.
- The SSA amount of withdrawal will be restricted to the actual requirement of money for Education or 50 % of the balance whichever is less.
- As per SB order 08/2022, NEFT/RTGS facility is available for POSB Account For this, if any NEFT/ RTGS transactions performed at counter at the end of the day, user should forward the NEFT mandate form along with SB-7 form or POSB cheque to SBCO.
CLOSURES:
- Revised SB-3 card should not be attached for closures; SPM should certify “Original AOF is not traceable after making all efforts” and signed.
- Passbook should be attached with last balance and date stamp for all closures in single and double handed Post offices for TDA type of accounts.
- For PMC form SB-7B has to be used.
- If account transfer from one office to another, form SB 10B should be attached with AOF.
- TD PMC – completed year TD rate of interest minus 2% and remaining completed months SB rate of interest – counter PA to check it before closing the account.
- SCSS PMC – reason code should be correctly chosen, AB2 for > 2 years and BT1 for between 1 and 2 years.
- For RD full maturity, if customer has loan A/c first close the loan account and then RD account should be closed. In case of RD PMC loan account should not be closed.
- Closure of matured RD account having outstanding RD loan/interest is not allowed through ECS outward facility, due to adjustment of RD loan/interest paid through office account (SOL ID+0023) from maturity value. The same shall be done only through Cash (below 20,000)/Transfer to Account holder’s PO Savings Account.
- For RD death claim closure, the closure amount should be given by cheque or transferred through ECS, if SB credit is given; it is treated as PMC – short payment to claimant.
- SCSS death claim closure – SCSS a/c not matured – date of death falls before maturity, Interest adjustment to be made in HINTTM –
- Int table code as –SBINT/SBRAT after date of death.
- Value date – 1 date more than actual date of death.
- Reason code – DTCLAIM
- SCSS death claim closure – SCSS A/c matured – date of death falls before maturity, Interest adjustment to be made in HIARM – Calculation sheet to be attached and sent to SBCO for Interest Adjustment.
- As per SB order 23/2022 Postmaster’s cheque shall not be issued for maturity/pre- mature/closure amount of accounts of all the schemes of POSB except KVP NSC bulk closure through CNSBCV.
- As per SB order 09/2021, provision of Payment of MIS/SCSS/TD accounts Monthly/Quarterly/Annual interest amount and maturity value of MIS/SCSS/TD/RD/KVP/NSC into account holder’s Bank Account by CBS Post offices has been introduced. Hence, while performing such transactions ECS mandate form along with cancelled cheque leaf/copy of first page of passbook duly attested by the depositor to be attached with account closure form/premature account closure form and sent to SBCO along with vouchers.
- As per SB order 23/2022, payment of maturity value of SBA type of accounts SB/PPF/NSS/SSA into account holder’s Bank Account by CBS Post offices has been introduced. Hence, while performing such transactions
- ln transaction remark SOL lD- Scheme- account number should be entered.
- Copy of the ECS Advice report should be printed and attached to the closure voucher.
DELETED / UNVERIFIED / MANUAL POSTING IN SAP :-
- SPMs are instructed to maintain separate register for deleted transaction entries in Finacle and copy of the reason for deletion may be forwarded separately to SBCO to avoid OMs.
- SPM s are instructed to check unverified transactions on daily basis using HAFI menu before giving EOD to avoid unnecessary increase in OMs.
- In respect of post offices where GL integration is completed manual postings should not be made in SAP. In case of any such manual entry, appropriate D.O Sanction/Order should be enclosed and forwarded to SBCO along with
