CHANGE IN PROCEDURE OF ISSUE OF NSC AND KVP FROM 01.07.2016
From: Director (CBS)
To: CPMG Andhra Pradesh Circle; CPMG Assam Circle; CPMG Bihar Circle; CPMG Chattisgarh Circle; CPMG Delhi Circle; CPMG Gujrat Circle; CPMG Haryana Circle; CPMG Himachal Pradesh Circle; CPMG Jammu & Kashmir Circle; CPMG Jharkhand Circle; CPMG Karnataka Circle; CPMG Kerala Circle; CPMG Madhya Pradesh Circle; CPMG Maharashtra 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: DDG (Financial Services); GM CEPT; Sakthivelu VM; Giriraj Ponnambalam; FSI (CBS) Team, CEPT; Director CEPT (Mysore); DDG (PG, QA & Inspections); DDG (PCO / PMLA); Director (Vigilance); Member (Banking & HRD)
Subject: Re: CHANGE IN PROCEDURE OF ISSUE OF NSC AND KVP FROM 01.07.2016
This office is receiving references on handling the cases relating to cheque clearing received after 30.6.2016 and cheque clearing date is prior to 1.7.2016 in respect of issue of NSC or KVP and in some cases maturity value of KVP showing less the the double amount. It is requested to follow the following procedure to handle such cases:-
1. Accounts for which cheque clearing was done upto 30/06/2016 and clearing information was received on or after 01/07/2016 – use CSCOAAC menu and enter the date of clearing as a/c open date & value date. Select the denominations requested. System will open account against each denomination. If stock of certificates is available, print certificates. If stock of certificates is not available and returned and If number of accounts are less than 5, change deposit receipt option to Passbook printing and print Passbook. Note all account numbers on the second page of Passbook manually and SPM/APM can sign below this information. If there are more than 5 Accounts, Passbook may be prepared manually and account numbers should be written manually on Page 2 and SPM/APM should sign below this information.
2. Issue relating to Maturity value for some high value accounts is shown less by Re.1 or Rs.2 – this issue is noticed and configurations are being worked out. Maturity amount will get corrected after configuration changes. No. of accounts affected (greater 60000 denomination) is between 300-400 across all the SOLs. In such cases, maturity value should be corrected manually to double the amount on Passbook under initials of SPM/APM.
Source : aipeup
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