Finacle Solution

Issuance of ATM card, Cheque Book & e-Banking on POSB account standing at branch post office

2021-08-06T20:14:00.005+05:30

(A). Procedure for issuance of ATM card on PO Savings Account standing at branch post office: -

i) To avail ATM card facility, account holder shall fil1 SB-ATM- 1 form (ATM Card/Internet/Mobile/SMS banking service request form) duly signed and submit SB-ATM-1 form with passbook at concerned BO.

ii) GDS BPM shall examine form and issue SB-28 receipt to the account holder for passbook collected.

iii) GDS BPM shall send SB-ATM1 form with passbook to respective account office duly entered in BO Journal/BO Daily Account.

iv) After receipt of SB-ATM1 form with passbook at account office, postmaster shall examine the form for eligibility of account holder for ATM card.

v) If eligible, SPM shall issue ATM card in Finacle against customers PO Savings Account by following the procedure prescribed for issue of ATM cards.

vi) After issuance of ATM card, SPM shall keep SB-ATM 1 form in Guard File of SB-ATM 1 form.

vii) On ATM Card issue register, SPM shall write the name of BO and date of dispatch of ATM card to BO and sign.

viii) SPM shall put a remark on customer’s PO Savings Account passbook for issuance of ATM card and sign.

ix) SPM shall dispatch ATM card and passbook to concerned branch post office duly entered in BO slip.

x) On receipt of ATM card and passbook from account office, GDS BPM shall hand over the ATM card/passbook to the depositor under receipt on SB- 28, after taking back depositor’s copy of SB-28 and past on the office copy.

Note: - PO Savings Account holder(s) of BO may also submit ATM request form along with passbook at account office and account office shall process the request as prescribed.

(B) Procedure for enabling e-Banking/m-Banking on PO Savings Account standing at BO: -

i) To avail eBanking or mBanking facility, account holder shall fill SB-ATM-

1 form(ATM Card/Internet/Mobile/SMS banking service request form) duly signed and submit SB-ATM- 1 form with passbook at concerned BO.

ii) GDS BPM shall examine the form and issue SB-28 receipt to the account holder for passbook collected.

iii) GDS BPM shall send SB-ATM1 form with passbook to respective account office duly entered in BO Journal/BO Daily Account.

iv) After receipt of SB-ATM1 form with passbook at account office, account office shall examine the form for eligibility of account holder for providing eBanking/mBanking.

v) If eligible, SPM shall enable eBanking/mBanking against customers PO Savings Account by following the procedure prescribed for enabling eBartking/mBanking.

vi) SPM shall put a remark on customer’s PO Savings Account passbook for enabling eBanking/mBanking and sign.

vii) After enabling eBanking/mBanking SPM shall keep SB-ATM I form in Guard File ofeBanking/mBanking form.

viii) SPM shall dispatch passbook to concerned branch post office duly entered in BO slip.

ix) On receipt of passbook from account office, GDS branch postmaster will hand over the passbook to the depositor under receipt, after taking back depositor’s copy of SB-28 and paste on the office copy.

x) After receipt of SMS by account holders mobile for enabling eBanking/mBanking, account holder may proceed for new user activation at https://ebanking.indiapost.gov.in or India Post Mobile Banking App.

Note: - PO Savings Account holder(s) of BO may also submit eBanking/mBanking request form along with passbook at account office and account office shall process the request as prescribed.

(C) Procedure for issuance of cheque book on PO Savings Account standing ct BO: -

i) Account holders of PO Savings Account in branch post offices may avail cheque book facility at the time ot account opening or by submitting SB/CQE-4 form (Application tot availing cheque facility/issue fresh cheque book) with passbook at concerned BO.

ii) GDS BPM shall examine form and issue SB-28 receipt to the account holder for passbook collected.

iii) The cheque book facility is not available to the illiterate depositor, minor account (sells and for those who do not sign in running hand. GDS BPM before sending the form to account office should claecl‹ the eligibility.

iv) GDS BPM shall send SB/CQE-4 form with passbook to respective account office duly entered in BO Journal/BO Daily Account.

v) After receipt of SB/CQE-4 form with passbook at account office, account office shall examine the form for eligibility of account holder for availing checjue book.

vi) SPM shall issue cheque book in Finacle against customers PO Savings Account by following the procedure prescribed.

vii) SPM shall put a remark on customer ’s PO Savings Account passbook for‘ cheque book issued and sign.

viii) After issuance of cheque book SPM shall keep SB/CQE-4 form in Guard File of SB-CQE-4 forms.

ix) In cheque book issue register SPM shall write the name of BO and date of dispatch of cheque book to BO and sign.

x) SPM shall dispatch cheque book and passbook to concerned branch post olfce duly entered in BO slip.

xi) On receipt of cheque book and passbook from account office, GDS branch postmaster shall hand ovei’ the cheque book and passbook under receipt to the account holder after taking of the depositor’s copy of SB-28 and paste on the office copy.

Note: PO Savings Account holder(s) of ISO may also submit cheque book request form along with passbook at account office and account office shall issue cheque book following the procedure prescribed.

Zero Balance mandatory in 0382 office account to perform EOD

2021-08-02T19:54:00.006+05:30

Zero Balance mandatory in 0382 office account to perform EOD

D.O. No. FS-10/3/2020-FS Dated 30th July 2021

Your kind attention is drawn to this office DO letter No. 25-11/2016-FS-CBS dated 22.11.2019, DO No. 113-04/2019-SB dated 26.10.2020 followed by fortnightly email reminders and review in monthly VCs of secretary (Posts) for liquidating cheque clearing office account (SOL ID+0382) in the post offices and DO letter of even no. dated 13.07.2021 for posting / deletion of all pending zones in finacle by 20.07.2021.

2.While reviewing status of (SOL ID+382) account, it is seen that Rs. 262 crore outstanding credit balance and Rs. 2.42 crore debit balance are currently pending. Likewise 1.32 lakh outward cheque clearing zones and 115 inward cheque clearing zones are pending as on date.

3. Above pendency is a cause for serious concern. Lukewarm response from the circles on these sensitive matters and delay in liquidating the pendency may even result in defalcation of crores of public money in the post offices.

4. ” CBS-CTS integration solution is going to be deployed early next month. The integration will help in creating an efficient cheque clearing system and eliminate possibilities of misappropriation in cheque clearing. “

5. Post offices will not be able to access Finacle clearing menu after deployment of the solution. Further, cheque clearing office account (SOL. ID-0382) will have EOD blocking validation i.e. post offices will not be able to do EOD if any balance is pending in their (SOL ID+0382) office account. Services of CPC (CBS) may be utilized for monitoring the liquidation. process and guiding the post offices to clear the pendency.

6. It is incumbent upon the circles that above pendency is cleared within 6th August, 2021. In case outstanding balance of SOL ID-0382 office account and pending zones are not cleared by that date, all pending zones will be deleted centrally and the cheque clearing office account (SOL ID+0382) will be made zero for post offices having pending balance in this account on 9th August, 2021 under the sole responsibility of the concerned circle.

It is requested to bestow your personal attention and help in liquidating balances in office account (SOL ID-0382) and clearing of all pending zones immediately.

Pawan Kumar Singh

DDG (FS)

Abolition of Saving Bank Aptitude Test

2021-07-20T20:39:00.009+05:30

Abolition of Saving Bank Aptitude Test

What to do when AOF is not found at the time of Account Closure - SB Order -19/2021

2021-07-20T18:41:00.001+05:30

What to do when AOF is not found at the time of Account Closure SB Order -19/2021

Allotment of Targets w.r.t. on boarding of employees on Sandes App

2021-07-09T21:11:00.008+05:30

Allotment of Targets w.r.t. on boarding of employees on Sandes App

Now India Post Email ID Will Be Managed by NIC

2021-07-09T21:00:00.001+05:30

Now India Post Email ID Will Be Managed by NIC

New Recruitment Rules of ASP in Department of Posts

2021-07-07T17:35:00.002+05:30

New Recruitment Rules of ASP in Department of Posts

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Submission of Statement of Financial Transactions for Interest Income

2021-07-06T20:54:00.000+05:30

Submission of Statement of Financial Transactions for Interest Income

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Revision of Rate of Interest of Small Savings Schemes w.e.f. 01.07.2021

2021-07-01T19:57:00.005+05:30

Revision of Rate of Interest of Small Savings Schemes w.e.f. 01.07.2021

How to process SOL Merger in Finacle

2021-07-01T19:53:00.001+05:30

How to process SOL Merger in Finacle

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Latest Guidelines - How to Transfer Discontinued NSS-87 and NSS-92 Accounts in CBS Post Offices

2021-06-28T19:03:00.004+05:30

Latest Guidelines - How to Transfer Discontinued NSS-87 and NSS-92 Accounts in CBS Post Offices : SB Order 14/2021

Passbook Printing work is assigned to MTS/GDS staff in Post Offices

2021-06-28T18:27:00.007+05:30

Passbook Printing work is assigned to MTS/GDS staff in Post Offices : SB Order 13/2021

Changes of Guidelines in respect of Joint B Type accounts of POSB

2021-06-22T19:19:00.013+05:30

Changes of Guidelines in respect of Joint B Type accounts of POSB

How to Re-investment of maturity in POSB Accounts with and without SAS Agent

2021-06-21T19:44:00.000+05:30

How to Re-investment of maturity in POSB Accounts with and without SAS Agent : SB Order 11/2021

Worlds Best Banks - Forbes List

2021-04-22T20:10:00.002+05:30

India Post Payments Bank has received 11th place in forbes list of world best banks.

Banks around the world played a crucial hand in keeping the global economy moving during the Coronavirus pandemic. Lenders were able to maintain the flow of credit to businesses and households. They raised emergency capital for small businesses and extended debt maturities for large corporations, originated and refinanced home loans, and were the cog in which stimulus checks and relief payments were transmitted. As citizens get inoculated and the global economy recovers, banks will quickly transition from being a cash bridge to financiers of an economic boom that may last for years. In anticipation of recovering growth worldwide, interest rates have already begun to rise, bolstering the bottom lines of big lenders. Digital change was accelerated during the pandemic and the banking industry saw a tremendous impact. Like never before, customers relied on online banking capabilities, digital payment technologies, and financial services that can be managed over smartphones. Offering a digital bank, in addition to any in-branch services, is now table stakes and it’s a matter of adapt or die for the world’s biggest lenders. As banking goes digital, large incumbent banks are vulnerable to fast-growing startups with low operating costs and modern infrastructure. For the third year running, Forbes has partnered with market research firm Statista to produce our list of the World’s Best Banks. Instead of gauging the balance sheets and P&L statements, as Forbes does for its ranking of the 100 largest publicly-traded U.S. banks published annually, Statista surveyed more than 43,000 customers around the globe for their opinions on their current and former banking relationships. Banks were rated on general satisfaction and key attributes like trust, fees, digital services and financial advice. The best banks in 28 different countries are highlighted below

PMO to prepare roadmap to cut India Post losses

2019-04-20T09:36:00.000+05:30

PMO to prepare roadmap to cut India Post losses

NEW DELHI: With India Post joining the club of loss-making Public Sector Undertakings, pipping both BSNL and Air India, the Prime Minister’s Office (PMO) has asked for a report from the telecom ministry on this. Last week, India Post had hit headlines after its annual deficit touched Rs 15,000 crore in FY19, up by almost 150 per cent from Rs 6,007 crore in FY16.

“The government is aware of the financial situation at India Post. The PMO has sought a detailed report and will soon do a consultation over improving the financial health of the PSU,” a PMO official told TMS.

Once the report is submitted, the government will prepare a roadmap to pull the firm out of crisis.The loss of India Post is attributed to high cost involved in payment of salaries and allowances to its massive workforce. The cost of payment to its 4.33 lakh employees stood at a staggering Rs 26,400 crore in FY19. This included pension payouts, which is nearly 50 per cent more than the total receipts of Rs 18,000 crore.

“The traditional postal services continue to make loss. The department has diversified into other services, but still saving schemes contribute to 60 per cent of the total revenue,” a senior official from the telecom ministry told this publication.

As per the company’s March 2018 annual report, the total assets under management, including government’s Special Securities and Floating Rate Bonds, rose to Rs 93,068 crore by September 2018 from Rs 25,856 crore in March 2014.

Last year, the finance ministry had advised India Post on taking a host of measures for generating revenue and cut losses. “The Expenditure Finance Committee, which was headed by the expenditure secretary, has directed the postal department to increase user charges on services, hike product prices, utilise manpower in more value-added services and to hive off products and services that are cost-intensive,” a finance ministry official said. The ministry has already hinted that the budget cannot bail out all loss-making firms.

SB Order No.09/2018 : POSB (CBS) Manual Standard Operating Procedure (SOP) for operation of POSB schemes in Core Banking Solution (CBS) platform

2018-07-27T16:51:00.000+05:30

SB Order No.09/2018 : POSB (CBS) Manual Standard Operating Procedure (SOP) for operation of POSB schemes in Core Banking Solution (CBS) platform

Click Here to : View / Download PDF ( Containing 301 pages)

SB Order 10/2018 : Amendments in statutory rules of Sukanya Samriddhi Account Rules 2016 by Ministry of Finance (DEA)

2018-07-23T16:44:00.000+05:30

SB Order 10/2018 : Amendments in statutory rules of Sukanya Samriddhi Account Rules 2016 by Ministry of Finance (DEA)

SB Order 07/2018 : Deduction of TDS in respect of Senior Citizens who have invested in St.Citizen Savings Scheme

2018-06-29T16:41:00.000+05:30

SB Order 07/2018 : Deduction of TDS in respect of Senior Citizens who have invested in St.Citizen Savings Scheme

ATM Card Skimming/Cloning at DOP ATM site in Delhi and UP

2018-06-01T08:53:00.002+05:30

ATM Card Skimming/Cloning at DOP ATM site in Delhi and UP

SB Order 06/2018 : Regularisation of PPF accounts opened in Joint names

2018-05-28T16:36:00.000+05:30

SB Order 06/2018 : Regularization of PPF accounts opened in Joint names

SB Order 03/2018 : Prevention of Frauds

2018-03-12T08:42:00.000+05:30

SB Order 03/2018 : Prevention of Frauds

SB Order 2/2018 PPF Account held by NRI

2018-03-09T08:33:00.000+05:30

SB Order 2/2018 PPF Account held by NRI

Issuance of ATM Debit Card to SB Account operated by Minors

2018-01-17T08:23:00.000+05:30

Issuance of ATM Debit Card to SB Account operated by Minors

Saving (Taxable) Bonds-2018 - A New Government Saving Scheme

2018-01-10T08:18:00.000+05:30