ECS Process in DOP Finacle

 Monthly/Quarterly/Yearly Interest payment and Premature/Maturity closures for TDA type of accounts
(MIS/SCSS/TD/RD/KVP/NSC) to Account Holder’s BANK ACCOUNT through ECS mode

 PROCESS

Counter PA to invoke the respective account modification menu and update ECS mandate for existing accounts. i.e

 1. CMISAM-for MIS/TD

2. CSCAM-for SCSS

3. CSCACM-for NSC/KVP certificates issued before 01.07.2016

4. CMISAM-for  NSC, KVP issued on or after 01.07.2016

5. CRDACM-for RD 

6. Both PO (Principal Outflow) & IO (Interest Outflow) flow code to be selected for TD/MIS/SCSS       accounts one by one

7. For NSC/KVP/RD accounts, ONLY TO (Total Outflow) flow code to be selected.

  After all modifications click on Submit.

 After modification, the account should be verified by the Supervisor. Supervisor must tally account number, depositor name, city code, bank code, branch code with mandate form and cancelled cheque/copy of first page of passbook

 

Closure of Account

After verification of account modification, Counter PA should proceed for Account closure through respective closure menu.

During Closure, Customer Instruction option should be selected from the Repayment Mode/Close Mode dropdown for amount to be credited to Bank Account.

1. CRDCAAC- for RD

2. CSCCAAC-for SCSS

3. HCAACTD-for TD/MIS/NSC/KVP

Account closure to be verified by the Supervisor

1. After verification of Closure, account closure report will be automatically generated in Supervisor login. Supervisor will invoke HPR menu and print account closure report generated in Finacle. This report has to be printed immediately

2. Supervisor will sign and seal on this account closure report and provide the closure report as acknowledgement of account closure to the customer

3. ECS mandate form along with cancelled cheque leaf/copy of first page of passbook to be attached with account closure form/premature account closure form and sent to SBCO along with vouchers

4. ECS mandate form shall be filed in a Guard file in the Post Office for Interest payment

Customers will get their maturity credits on D+1 working day (D = Date of Closure) in his bank account.