How to handle Withdrawal of Excess amount from MIS Account in case of death of one of joint holder where amount invested is more than the prescribed limit for single holder.?

In case of Joint MIS Account where one of the joint holder dies and the investment in the account(s) is more than the MIS investment limit fixed for single holder. 

This process involves two steps :

1. Withdrawal of Excess amount from MIS Account.
2. Conversion of MIS Joint Account to Single at account level.

Process of Withdrawal of Excess Amount from MIS Account :

• The user needs to withdraw the excess amount by invoking the menu HCAACTD. 
• Once HCAACTD is invoked the user needs to enter the date of death of the holder in closure value date and excess amount to be withdrawn in the withdrawn amount field.
• Once the user goes into the closure details page of the menu HCAACTD, Collect penal flag has to be chosen as ‘No’ and in closure exceptions tab, closure reason code has to be selected as ‘DTCLM’. 
• E.g. Date of closure when legal heir asks for removal of name of joint holder due to death = 10-10-2013. Date of death - 7-7-2013. So in the closure value date, the user will enter date as 7-7-2013.

Conversion of MIS Joint Account to Single :

• If the deceased share holder is not the main holder of the account then in the menu CMISAM, the deceased share holder has to be marked as deleted.
• If the deceased share holder is main holder of the account, then user needs to invoke menu HCCA and change the CIf id of the main holder to that of remaining holder, who would be the main holder in the account. 
• E.g. CIF A, B and C are joint holder. CIF A dies and remaining holder want to make CIF B as main holder. Then the user will invoke menu HCCA and change the CIF id from CIF A to CIF B. (In Finacle, First Holder is the main Holder)