As per present conditions of RICT project, no account will be close at Branch Office(BO) Level, all closure will be done at SO. Here is the standard operating Procedure to Closure BO Account at RICT Device.
BO SB account closure
1. Similar to the present process, account closure form should be done at AO (SB-7A& passbook). No account closure at BO.
Steps to be followed for BO SB Account closure at AO-
1. When SB7A along with Passbook is received from BO, User will Invoke the menu HACACCR
2. Enter the details in field “Report To” as PM
3. Select “INR” in CCY field
4. Enter the BO SB account number in the “From A/c ID”
5. Enter the same BO SB account number in the “To A/c ID”
6. Click on “Submit”
7. A message “Batch program successfully lodged “ is displayed
8. A report “Accrual Interest report” is available in the queue. Go to HPR and select the report to
9. Click on the Print screen for viewing the “Interest accrual report”
10. The total amount accrued as interest till date is displayed at the end of the report.
11. Interest amount shown in the report should be added to the balance in the account and noted On
WARRANT OF PAYMENT of SB7A. This should be sent to Branch Office for the closure of SB
account with the direction that this is valid up to last working day of the month. Other procedure for
sending sanction to BO should be followed.
12. On receipt of SB7A from BO after closure, invoke the menu HCAAC for account closure.
13. Select the function “CLOSE”
14. Enter the BO SB account number to close
15. Click on the checkbox “Transfer” in Balance field
16. Enter the BO Settlement account in the “Transfer A/c ID” field
17. Click on Go
18. The balance amount in the account will be displayed in the A/c Information tab
19. Click on the “Closure” tab to select the reason code and click on “Submit”
20. On clicking “Submit”, total amount along with interest will be displayed. BO SB account will be closed and the amount should be credited adjusted in BRANCH SETTLEMENT ACCOUNT (0339). Transaction ID generated should be noted on SB7A and submitted to Supervisor for verification. After verification, the transaction will appear in LOT and consolidation.
BO RD CLOSURE at Account Office-
On receipt of SB7A and Passbook from BO, PA should first invoke Trial Closure for an issue of closing sanction. The same procedure should be followed as being followed for Trial Closure of RD Accounts standing at SO/HO in Finacle. Enter closing amount in SB7A and after following laid down the process of sanction of BO W/D, Passbook and SB7A should be sent to BO with the direction that sanction is valid only up to last working day of the month. If the customer does not attend BO up to that date, a fresh sanction is to be obtained by BO for which fresh Trail closure should be invoked. Once paid SB7A signed by customer duly entered in BO daily Account is received at Account office, following process to be followed by counter PA:-
1. Invoke CRDCAAC menu.
2. Enter the RD account number
3. Enter the BO date in the Value Date column
4. Closure details will be displayed.
5. Select the repayment mode as “Transfer”
6. Enter the BRANCH SETTLEMENT ACCOUNT (SOLID0339) as Repayment ID
7. Click on “Submit”
Transaction ID will be generated and PA should note that Tran ID on SB7A and hand over to Supervisor for verification. The supervisor should verify the transaction using the same menu and option “Verify”. Once, the transaction is verified by the Supervisor, the transaction will appear in LOT and consolidation.
BO TD CLOSURE at Account Office-
When SB7A is received from BO for sanction of TD closure, Invoke TD Trial closure for the required BO TD account and send SB7A to BO concerned by filling closure amount on Warrant by following the laid down procedure for sending sanction to BO. Before doing Trial Closure, unpaid TD interest if any should be checked by using HTDTRAN or HIOT menu. Total amount to be paid along with unpaid interest should be mentioned on the SB7A on the Warrant of Payment Side with signatures of Supervisor. It should also be mentioned that sanction is valid up to last working day of the month and if the customer does not come for closure up to that day, the fresh sanction should be obtained. All other provisions mentioned in the rules should be followed. On receipt of the closed voucher from BO, the following procedure to be followed
1. Invoke the menu HCAACTD.
2. Select the Function (Z – Close) select closure (Trial Close selected in the screenshot)
3. Enter the BO TD account which was closed at Branch Office based on the sanction of SO/HO.
4. Enter the BO Date in the Closure Value Date field
5. Click on SVS (Signature Verification System) icon to verify the signature in the BO withdrawal
6. Click on GO
7. BO TD account details will be displayed. Check the amount of principal.
8. Click on “Closure Details” Tab
9. Select the R-Repayment A/c the only option for BO Accounts Enter the BRANCH SETTLEMENT ACCOUNT (SOLD ID 0339) in the Repayment A/c ID field
10. Click on “Closure Exceptions” Tab
11. Enter the Branch Office Settlement Account (SOLID 0339)
12. Select the Closure Reason Code as NORMAL from the Searcher
13. Closure details detailing the principal, interest adjustment and actual Booked Interest (Rs.10,000 + Rs.405.94) paid as maturity proceeds to the BO TD account to be verified with the voucher. Click on Submit. BO TD account closed at Branch Office is closed at Account Office. Transaction ID Generated by the system has to be noted on the SB7A and handed over to the Supervisor for verification. After verification, the transaction would appear in LOT and Consolidation. If any unpaid interest is available in TD Sundry Office Account, that also needs to be withdrawn by using HTM menu as mentioned above.
Click Here to Download standard operating Procedure to Closure BO Account at RICT Device