Major issues where the process in Sanchay Post and Finacle CBS Application differs.
Process in Sanchay Post
Process in Finacle
For each Post Office, PO Code is allotted.
In Sanchay Post, account number is generated from the block of accounts allotted for different schemes.
In Sanchay Post, there is no provision of handling cash.
Cash is handled in SB Cash.
Account opening with CIF
There is no process of creation of CIF in Sanchay Post
Use of SS Book
In HPOs and most of the SOs where Sanchay Post is working, SS Book is not maintained.
Entering of Date of Birth and Last name
In Sanchay Post, entering of Date of Birth is not mandatory except in SCSS and Minor Accounts. There is no concept of First, Middle and Last name in Sanchay Post.
Opening of account by minor of the age between 10-18 years without guardian
Sanchay Posts treats such accounts as Individual Accounts.
Funding of accounts
In Sanchay Post , there is a process of accepting deposit at the time of account opening and purchase of certificates.
Validation of minimum amount of deposit and withdrawal
Sanchay Post does not allow deposit and withdrawal in Savings Account for amount less than Rs.5/-.
Payment of interest in MIS,TD, SCSS etc.
In Sanchay Post, interest is credited into the MIS/TD/SCSS Accounts and also paid from the accounts.
Therefore, it is desired that all MIS/SCSS and TD account holders should be requested to open savings account and link the same for credit of interest.
Savings/NSS/PPF Account closure.
In Sanchay Post Savings/NSS/PPF account closure, all calculations of closing interest are done by the software.
Inventory process in Sanchay Post can be maintained for SO/HO with Invoice number details etc.
Process change for certificate name transfer.
In Sanchay Post, for Certificate transfer from one person to another or single to joint or joint to single, old certificate is discharged and new certificate is issued.
Certificate issue (linkage with printing of certificates)
In Sanchay Post, on issue of certificate from the substock, certificate is automatically reduced from stock held. But this is different in finacle.
In Sanchay Post, if certificates are not available in stock, a receipt can be issued from Sanchay Post and amount will be accounted for in the post office account against certificate issue. Later, certificates can be issued from the stock against this receipt any time.
Handling of MPKBY Agent Lists at BOs.
Sanchaya Post has the provision to accept RD Bulk Lists without posting and post transaction at a later date with back dated posting.
RD Agent Portal
In Sanchay Post, there is a provision to attach RD Accounts with an identified MPKBY Agent and when agent presents a List, amount of List can be accepted pending posting of the List. Amount of all such Lists are reflected in LOT and posting against pending Lists can be done at a later date with date of presentation of List as date of deposit.
Therefore, it is advised that only one counter should be identified for accepting agent LISTs.
To the extent possible all MPKBY agents should be encouraged to use Agent Portal themselves for which User Champions can train them in WCTCs in batches.
There is no provision to keep the posting of RD agent list pending in Finacle CBS.
Maintenance of stock of Passbooks.
In Sanchay Post, Passbook stock and supply is maintained.
Maintenance of Office accounts
There is no concept of Office Accounts in Sanchay Post as it is based on Single Entry system.
Many of these office accounts have to be watched by SBCO or Postmaster or Division /Region/Circle/DAP Offices in the shape of reports.
List of Office Accounts to be used by Counter Pas and Supervisors is attached as Annexure-I
List of Office Accounts to be watched by SBCO or Postmaster or Division/Region/Circle/DAP Offices is attached as Annexure-II.
Shifting of signature scanning and other related work to Circle Processing Center (CPC).
In Sanchay Post, signatures are scanned at the Post Office counter. There is provision of signature scanning in SOSB and also no provision for photo scanning in Sanchay Post.
Transfer of accounts/certificates between finacle CBS and non finacle CBS Post Offices.
In Sanchay Post, there is a provision to transfer any account to any post office and it generates Advice of Transfer along with Transfer Journals. Certificates issued by other offices can be discharged under the option Discharged at Other Offices after verification.
In Sanchay Post, cheques are entered against account numbers and in case of new accounts marking as New Account against Account number.
Lists are printed and sent to HO along with cheques.
In HO, cheques of SOs and HO are combined and handed over to Treasurer along with list for clearing.
Treasurer is attending Clearing House activities and after getting clearance, intimated the HO Counter about credit.
HO Counter accounts are credited and reflected in LOT and SO’s cheques are credited at HO under Part-II and intimation is sent to concerned SO under part-III for posting in SO ledger.
It is advised to convince the depositors to first open Savings Account in Post Office and then present POSB Cheque instead of other Bank Cheques which will save clearing time also.
Account opening through cheque
In Sanchay Post, there is no concept of Office Accounts and account opened through cheques can be opened and credited by selecting the cheque details from the list of cheques prepared in Sanchay Post.
Therefore, it is advised to convince the customer to first open Savings Account and present POSB Cheque or if he gives other Bank Cheque, that can be lodged against his savings account for automatic credit after clearance. From customer Savings Account, the new account can be funded/credited on opening.
Subsequent deposits through cheque
In case of RD and PPF, many depositors pay the monthly installment or subscription in PPF through other Bank Cheques.
At present the rule is that in case of RD, date of presentation of cheque is the date of deposit.
This rule is going to be changed soon. Date of credit will be the date of deposit.
In Sanchay Post, these cheques can be lodger/entered against their RD and PPF accounts and once intimation of clearance is received, credit can be given by just selecting the relevant cheque number from the list.
Therefore, it is advised to pursue such RD and PPF customers to open Post Office Savings account, avail value added services like ATM Card, Internet Banking, Mobile Banking and issue POSB Cheque for subsequent deposit. This will also save time taken in clearing of other Bank Cheque.
In Sanchay Post, the Counter PA has to enter date of death and all other calculations are done by the Sanchay Post system.
In case of new accounts, it is better to advise the depositor to make nomination only in the name of one person.
Half Withdrawal in RD and Loan in PPF .
In sanchay post, There is a provision for Half W/D and as a result, balance is reduced.
In PPF, Loan amount is calculated by Sanchay and balance is reduced from the existing account balance.
End of Day
Day end in sanchay post is done separately for each office.
Only the account numbers are entered and the date of execution is picked automatically by the software.
RD-claim closure where Advance deposits are made
Claim is allowed up to the date of claim.
Loan repayment through Agent bulk list
In Sanchay post there is a provision to remit repayment of loan amount
Repayment of Loan entries
Loan repayment is done as part of deposit. Loan repayment should be accompanied with monthly deposit and Loan can be paid either in Lump Sum or in monthly installments.