Step by Step procedure for Bulk Discharge of NSC/KVP in DOP Finacle

Step by Step procedure for Bulk Discharge of NSC/KVP

This bulk discharge can be used only for MATURED NSC/KVP certificates. Maximum of 50 certificates will be closed at a single time. If a registration number contains more than 50 certificates, first 50 certificates will be closed and the balance to be closed by invoking the menu 2nd time.

Registration number and CIF ID are mandatory for bulk discharge.

This option cannot be used for Premature closures and Claim closures

CNSBCV

a.      Invoke the menu CNSBCV thru OPERATOR

b.      Select the function CLOSE

c.       Enter the registration number

d.      Enter the CIF ID

e.      The Closure reason code – NORML (Normal) will be auto populated

f.        Closure value date will be auto populated

g.      Repayment account to be entered. Repayment account can be POSB account of the customer. In case if the customer is not having SB account, by default the maturity proceeds will be transferred to Postmaster Cheque account (0340). If the repayment account

h.     Product type to be selected either NSC or KVP

i.        Click on SUBMIT

Processing will happen in backend and report will be generated

   
 

Invoke HPR

NSC Bulk Account Closure success report will be available in HPR

 

 

The details of maturity proceeds will not be available in Operator stage. Only ‘closed successfully’ message will be thrown.

Verification

Invoke the menu CNSBCV through SUPERVISOR

a.      Enter the CIF ID first

b.      Enter the registration number

c.       Closure value date, Product type, closure reason, repayment account if any will be auto populated for verification

d.      Click on Submit

e.      A message “Bulk closure batch has been initiated. Please check in HPR after 10 min.” will be displayed

The details of maturity proceeds will be displayed in the report.

Screen shot displaying credit of maturity proceeds in SB account of the customer.

NOTE:

1.       If a closure is unsuccessful during Supervisor verification, it has to be cancelled by the user.

2.      When a dormant SB account is given, verification will fail. This transaction has to be cancelled by the user.

 

Screen shot showing maturity proceeds credited to Postmaster Cheque account (0340)