India Post Finacle Guide for MIS principal limit adjustment - claim case
In India Post Finacle,
For MIS joint accounts, There are two claim cases
1. If the first
holder is deceased
2. If the second
holder is deceased
Step By Step Procedure in Detail - India Post Finacle Guide
If the first holder is
deceased then
1.Invoke HCCA menu
2.Function - Modify
3.Enter A/C ID
4.Click on GO(F4)
5.Delete 1st person's
CIF ID and Enter 2nd person's CIF ID.
6.Select Modify A/C Name
if necessary.
7.Enter Appropriate
Reason Code - D
8.Click on SUBMIT(F10)
9.Verify the Transaction
in the same menu in supervisor login.
10.Invoke CMISAM menu
11.Function - Modify
12.Click on GO(F4)
13.Change the mode of
operation to Self(012)
14.Delete Related party
2 Details as both Realated party 1 and Related party 2 details will be same
after the CIF merge operation.
15.Click on SUBMIT(F10)
16.Verify the same in
the same menu in supervisor login.
If the second holder is deceased then
1.Invoke CMISAM menu
2.Function - Modify
3.Click on GO(F4)
4.Change the mode of
operation to Self(012)
5.Delete Related party 2
Details as the second holder is deceased.
6.Click on SUBMIT(F10)
7.Verify the same in the
same menu in supervisor login.
After doing any one of
the above two procedures, do the following
Closure procedure:
1.Invoke HCAACTD menu
2.Function - Close
3.Enter MIS A/C ID
4.Delete the amount
shown and Enter the withdrawal amt(Principal) - Amount to be deducted (if
exceeding 4.5lakhs)
Ex: If the principal amount is 5lakhs then it is exceeding the individual holding limit by 50000. So, withdraw the excess amount i.e., 50000 from the principal amount. In this case, in step 4, enter the withdrawal amt(Principal) as 50000.
5.Click on GO(F4)
6.View Account
information Tab
7.View Closure Details
Details
8.Select Close mode as
Repayment account only/SB Account
9.Repayment account ID
is automatically SOLID+0340 account only.
In case of BO accounts
also, closure value will be credited to 0340 instead of 0339, on selecting
'Repayment Account only' option. After verification of closure, CXFER menu is
to be used for transferring the amount from 0340 to 0339.
10.For SB A/C Transfer,
Select SB Account and Enter SB A/C ID, Enter Cash CCY Code as INR.
11.View Closure
Exceptions
12.Select Appropriate
Closure Reason Code - DTCLM
13.Click on SUBMIT(F10)
14.Verify the
transaction in supervisor login using HCAACVTD menu
Note: Recover the excess
paid interest if any after the date of death of any of the holders.
India Post Finacle guide
for PPF Loan A/C Opening Click Here
India Post Finacle guide
for Splitting inventory Click Here
For India Post Finacle
guide frequently used menus list Click Here
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