Articles by "NSC"

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Showing posts with label NSC. Show all posts

February 03, 2019 ,
Rulings for Issuing Duplicate NSC Certificate at Post Office Counter
1. Filled Form-NC29 for the Issue of Duplicate Certificate

2. Statement showing the details of NSC– such as number, amount and the date of certificate and the circumstance attending such loss, theft, destruction, mutilation or defacement.

3. Bond of Indemnity – In case of mutilated or defaced certificates, no indemnity bond is required. But for lost, stolen, destroyed, you also need to submit bond of indemnity. You also need to furnish an indemnity bond in the prescribed form with one or more sureties or with a bank guarantee is required.

A- Bond of Indemnity (Form NC-54(a))
This form is used for issuance of a duplicate National Savings certificate(s) in lieu of lost, misplaced, spoiled or mutilated certificates.

B- Bond of Indemnity (Form NC-54(b))
This bond of indemnity is to be executed for the issue of a duplicate certificate(s) in lieu of lost, misplaced, spoiled or mutilated certificates with a Bank guarantee.

C- Bond of Indemnity (Form NC-61)
This bond of indemnity is to be executed at the time of discharge of original certificates or Issue of duplicate certificate(s) in lieu of lost, misplaced, spoilt, destroyed, defaced or mutilated certificate (s), where original application for purchase is missing.
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4. Copy of FIR – If the Certificate is lost, stolen, destroyed.

5. Identification Document of Surety – e.g. Valid Indian Passport, Indian Driving License, Salary Certificate of the Surety.

6. Payment Receipt of Fees for Issue of Duplicate Certificates (Fee Rs.5)

If the officer-in-charge of the post office of registration is satisfied of the loss, theft, destruction, mutilation or defacement of the certificate, he shall issue a duplicate certificate on the application.

Things you should Know
A duplicate NSC certificate shall be treated as equivalent to the original certificate for all the purposes of these rules except that it shall not be encashable at a post office other than the post office at which such certificate is registered without previous verification.

December 30, 2018 , , , , , , , , , ,
This is regarding streamlining the transactions in office accounts 0382 (For opening of account and subsequent deposit by other Bank Cheque) and 0017 (CLEARING DR. A/C. OUTWARD CLEARING). This streamlining process is to resolve the below issues
1. 0017 office account is used both for outward clearing (by system) and subsequent deposits including RD agent transactions .

2. Several offices are not following cheque clearing process properly and debits for new account are made without proper credits resulting in huge debits in office account (0382).
New Procedure to be followed :
1. Cheques for New account Opening and Subsequent deposits should be lodged in office account 0382 ONLY (For opening of account and subsequent deposit by other Bank Cheque); from 01/01/2019 onwards. Cheque lodging will be allowed only in 0382.

2. Office account 0017 will be accessed by SYSTEM only for cheque clearing operations wef 01/01/2019

3. Balances in office account 0382 should always be 0 or in credit. Validations are to be deployed for not allowing DEBITS in office account 0382 if the balance of the account is in DEBIT. As part of this activity, debit balances in this office account (0382) will be nullified to zero after 15/01/2019. Henceforth, debit from this office account cannot be done if sufficient balance is not available. Suitable instructions to be issued to POs for following cheque clearing process correctly to ensure that necessary credits are available in 0382 office accounts before debiting. Further, circles should ensure that reconciliation in 0382 office account is completed and debit balances are tallied against necessary cheque clearance and the same is accounted in daily account. This exercise should be completed by all circles. Discrepancies if any to be reported immediately.

4. Credits into 0382 will be only through cheque clearing and transfer could not be done from other office accounts. It is observed that some POs are debiting from other office accounts for crediting into 0382. Necessary validations are built to restrict credit from other office accounts and debit in this office account without credits.

5. As interim procedure, offices can continue to debit 0017 for a period of one week (till 07/01/2019), during which all cheques lodged in 0017 prior to above configuration changes will get cleared and credited into customer accounts.

6. Amount credited through clearing in office account 0382 upto 15/01/2019 should be utilised latest by 15/01/2019 itself, for account opening/subsequent deposits. Once the balance is made zero in the offices where 0382 is in debit balance, further debiting will not be allowed.
Configuration change along with deployment of patch :
0017 office account will be restricted for debit: Only 0382 will be allowed as debit account in all the account opening menus and CRDP / CPDTM; 0017 office account cannot be debited from 08/01/2019.

Configuration change related to HAGTXP: This will be done for handling debit transactions through agent portal to 0382 office account instead of 0017 office account. [proposed to be done from 08/01/2019]. The cheques cleared in 0382 during the preceding week have to be kept pending for processing till 07/01/2019. Hence all the agent cheques which got cleared from 01/01/2019 to 07/01/2019 need to be kept pending for processing till 07/01/2019. Only from 08/01/2019, Cheque bulk list where credits are available in 0382 can be processed.

0382 office account can be used for account opening and subsequent deposits (except Agent bulk) from 01/01/2019 to 07/01/2019. Agent bulk list where cheques got cleared for the above period to be kept pending till 07/01/2019.

Exception handling: Any cheques lodged in 0017 upto 31/12/2018 and cleared after 07/01/2019, will be handled separately by allowing transfer between 0017 & 0382 for the specific SOLs . This will be done after receipt of mail from concerned circle CPCs. This process is only for clearing backlog cheques if any. 

Following will be the status of accounts, on successful completion of the above configuration / operational changes:

​​0017 will be used for clearing operations only; this office account at SOs (non-clearing offices) will not be getting any transactions. 

0382 will be either in credit or zero balance.

The balance amount transferred from 0017 to 0382 office account, will have supporting transactions in 0382 ledger which can be audited separately to check whether cheques for these amounts were cleared manually instead of processing through zone operations. A report will be provided to circles with details of office account and amount of debit cleared for reconciliation. Circles can use this report for reconciliation to ensure that debits have been accounted in their daily account/summary.

The debit transactions in 0017 other than clearing transactions, can be audited by circles separately to check whether cheques for these amounts were cleared manually instead of processing through zone operations.

Any clarification on the above may be referred to helpdesk.cbs@indiapost.gov.in

February 16, 2018 ,
The government, on Tuesday, clarified that no change in interest rate or tax policy on small savings schemes, which includes PPF and NSCs, is being made through the amendments proposed in Budget 2018. 

It has been proposed in the Budget to merge the Government Savings Certificates Act, 1959 and Public Provident Fund Act, 1968 with the Government Savings Banks Act, 1873. 

With a single Act, relevant provisions of the Government Savings Certificates (NSC) Act, 1959 and the Public Provident Fund Act, 1968 would stand subsumed in the new amended Act without compromising on any of the functional provision of the existing Act, says a press note issued today. 

As per the note, these changes are proposed in order to allow the government to easily allow premature closure in the schemes and provide other procedural benefits to depositors by simply issuing a notification. 

A ministry of finance tweet also stated, "All existing protections have been retained while consolidating PPF Act under the proposed Government Savings Promotion Act. No existing benefits to depositors are proposed to be taken away through this process." 

The government through the press note also makes it clear that there is no proposal to withdraw the provision of protection against the attachment of Public Provident Fund Account under any decree or order of any court in respect of any debt or liability incurred by the depositors and the existing and future depositors will continue to enjoy protection from the attachment under the amended umbrella Act as well. 

Apart from ensuring existing benefits, certain new benefits to the depositors have been proposed under the bill. These provisions which are proposed to be incorporated in the amended Act will add to the flexibility in operation of the Account under Small Savings Schemes. These are: 

i. Premature closure 

Existing: As per PPF Act, the PPF account can't be closed prematurely before completion of five financial years. If depositor wants to close PPF account before five years in exigencies, he can't close the account. 

Proposed: To make provisions for premature closure easier in respect of all schemes, provisions could now be made through specific scheme notification. The benefits of premature closure of Small Savings Schemes may now be introduced to deal with medical emergencies, higher education needs, etc. 

ii. Investment by minors 

Existing : Investment in Small Savings Schemes can be made by Guardian on behalf of minor(s) under the provisions made in the proposed bill Guardian may also be given associated rights and responsibilities. 

Proposed : There was no clear provision earlier regarding deposit by minors in the existing Acts. The provision has been made now to promote culture of savings among children. 

iii. Proceeds to heirs 

Existing: As per existing provisions of the Acts, if depositor dies and nomination exists, the outstanding balances will be paid to nominee(s). 

Proposed: Whereas, Supreme Court in its judgement stated that nominee(s) is merely empowered to collect the amounts as Trustee for the benefit of legal heirs. It was creating disputes between the provisions of the Acts and verdict of Supreme Court. Hence, right of nominees have now been more clearly defined. 

iv. Nomination 

Existing: In the existing Acts, there is no provision for nomination with regard to account opened in the name of minor. Further, existing Acts say that if account holder dies and there is no nomination and amount is more than prescribed limit, the amount shall be paid to legal heirs. In this case, the guardian has to obtain succession certificate. 

Proposed To remove this inconvenience, provisions for nomination with regard to account opened in the name of minors have been incorporated. Further the provision has been made that if the minor dies and there is no nomination, the balances shall be paid to guardian. 

v. Grievance redressal 

Existing: The existing Acts are silent about grievance redressal. 

Proposed The amended Act allows the Government to put in place mechanism for redressal of grievances and for amicable and expeditious settlement of disputes relating to Small Savings. 

vi. Other changes 

There were no clear provisions in all the three Acts for the operation of accounts in the name of physically infirm and differently abled persons. Provisions in this regard have now been made. 

Source:-The Economic Times

April 11, 2017 , , , , , ,
  • When we are closing RD/MIS/TD/NSC/KVP/SCSS accounts by using the payment mode as cash then we have to process the transaction in HCASHPND.
  • HCASHPND means Pending Cash Transactions which means that only after clearing these transactions in HCASHPND teller balance will tally.
  • Always it is requested for the counter officials to clear the pending HCASHPND transactions on day to day basis because system will not allow to process the previous day's transactions. Hence advised to clear them as and when transaction created.
  • Generally after verification of closures which have done using cash mode a transaction will be created in HCASHPND.
  • Clear the transactions in HCASHPND immediately after verification of closure by the supervisor.
  • But some times while processing the HCASHPND transaction system will throw the error "Modify criteria to fetch records less than or equal to 300" in DOP Finacle
  • The error screen shot will be as shown in the below figure
Root cause of the problem :-
  • If the records are more than 300 to be processed in HCASHPND then the system will throw the above mentioned error.
  • This is the validation configured in the system by the Infosys team hence system will throw the error when there are more than 300 records to be processed in HCASHPND menu.
Solution for the above Problem :- 
  • As if there are more than 300 records to be process exists in the menu HCASHPND we have to follow the below mentioned steps.
  • Select the function as Process and enter the below mentioned details.
  • Enter the originating id as account number of the closed account. (or)
  • Enter the From tran amt and To tran amt fields
Then click on go then the system will filter the data and it will show only the desired data from the list of unprocessed transactions.
Then select the desired records from the list submit and verify the transaction in HTM.

March 20, 2017 , , , , , , , , ,
You are all aware that we are nearing the end of the financial year when interest calculation and posting are due for SB/PPF/NSS accounts.
Request you to please advise Post Offices to verify all the accounts which have been modified but verification is pending since interest posting for such accounts will fail resulting in complaints and tickets being raised for non-posting of interest.
Unverified accounts can be listed by respective offices using the HAFI menu; Following are the fields to be entered in HAFI for finding out unverified transactions:

Procedure to view the unverified accounts

Invoke the menu HAFI and enter the following details as mentioned belowEnter the SOL ID ____________Enter the Table Short Name as "GAM"In the Ref NO files "give two balnk spaces"Enter the General Ledger Subhead code as _________Enter the function code as "M"Select the Authorized option as "Not authorized" 
  • Following are the General Ledger Subhead codes 
SB - 30001
PPF - 33001
NSS87 -30021
NSS92 -30022
RD -30010
TD 1 YR - 30011
TD 2YR - 30012
TD 3YR - 30013
TD 5YR - 30014
TD EXCEPTION - 30015
MIS - 30016
MIS EXCEPTION - 30017
SCSS DEFENCE - 30018
SCSS VRS - 30019
SCSS GENERAL - 30020.
After entering all the details then click on Go then the system will show the list of unverified accounts as shown in the below figure.If any verification is pending in DOP Finalce application then the system will not calculate the interest for such unverifiedaccounts.So kindly verify immediately.Accounts thus identified have to verified to ensure interest is calculated and posted in them .

Please make sure no pending accounts are left unattended. SOLs are repsonsible, if the interest for the accounts are not posted due to pending account verification.

March 05, 2017 , , , , , , , , ,

Dear All,

Almost half of the tickets relating to account closure, is reported across circles. However it will comprehensible, by following 10 key notes pointed out by us, before heading for actual closure of all schemes:-

1) Whenever an account closure has to be made, always use trial closure for making a successful attempt prior to a proper closure.

2) The closure has to be initiated only in below mentioned menus. Also while initiating closure, feed either the Repayment A/c(0340) or S.B A/c of the Depositor other than Cash.

CRDCAAC menu for RD A/c Closure.
HCAAC menu for SB & PPF A/c Closure.
HCAACTD menu for MIS/TD/SCSS A/c Closure.
CSCCAAC menu for KVP/NSC A/c Closure.
CNSBCV menu for KVP/NSC Bulk Closure.

3) Sometimes the closure would've been attempted by the user, however the user may not verify the same resulting to various issues at a later date. Most of all, without even cancelling this account closure either the same day or at least the very next day, they will begin to modify and once again initiate closure. This needs to be attended rapidly.

4) Kindly note that whenever a Modification is made @ CIF/Account Level, either it has to be cancelled (by same user) or verified in respective menu. If not, either Int. will not get executed during EOD or those accounts cannot be closed due to such pending/unverified records.

5) Always check for any pending/unverified records in HAFI menu even before proceeding for account closure. This is also essential for proper submission of EOD.

6) Bonus (only for MIS), Int., & PMI (if applicable), will be generated only if the account closure is attempted in aforementioned closure menus for respective schemes. If SI (applicable only for RD) is given, please make sure that before closing RD accounts, this SI has been lifted from such RD A/c and verified at the same time.

7) For any emergency or investigative cases arising during account closure, kindly address those with concerned SBCO/D.O/R.O/C.O. Also refer the Rules, Regulations as laid down in various POSB Manual Volumes & SB Orders released from time to time. Status Quo has to be maintained for such cases.

8) It is always advisable to credit the closure proceeds to Savings Account of the Depositor benefiting the customer to withdraw as per norms/their wish. It is also necessary to make sure that CIF of the matured account is the same CIF as that of SB account. If not, kindly arrange to merge the same through HCCA and proceed for account closure.

9) While closing the accounts held in other SOL, it is necessary to obtain SOL transfer request along with SB 10(b), from the customer with fresh KYC. Thereafter proceed for SOL transfer through HACXFSOL & notify this to the concerned SOL through HO/SBCO. Even before closure, check whether the entries are up-to-date as listed in the above points.

10) There is a limitation for extending accounts beyond maturity as for eg: For RD/TD, there is automatic renewal. However for PPF and SCSS A/cs, please obtain the request from the depositor & extend manually through HCEXTN, HEXCDM menus respectively. As if PPF is extended, it cannot be closed for a further period of 5 years & if SCSS is extended, it cannot be closed within a year.

Based on these, we can reduce the manual errors to a large extent apart from technical limitations in Finacle. It is hereby kindly requestedto address these to associating all 23,199 Live SOL's till date by any good means of communication. This may be shared to all concerned for future reference as well.


Thanks and Regards,
Hariharan S
DOP Service Desk,
CEPT, Chennai - 02

March 02, 2017 , , , , , , , , ,

1) Whenever an account closure has to be made, always use trial closure for making a successful attempt prior to a proper closure.

2) The closure has to be initiated only in below mentioned menus. Also while initiating closure, feed either the Repayment A/c (0340) or S.B A/c of the Depositor other than Cash.
CRDCAAC menu for RD A/c Closure.
HCAAC menu for SB & PPF A/c Closure.
HCAACTD menu for MIS/TD/SCSS A/c Closure.
CSCCAAC menu for KVP/NSC A/c Closure. And CNSBCV menu for KVP/NSCBulk Closure.
3) Sometimes the closure would've been attempted by the user, however the user may not verify the same resulting to various issues at a later date. Most of all, without even cancelling this account closure either the same day or at least the very next day, they will begin to modify and once again initiate closure. This needs to be attended rapidly.

4) Kindly note that whenever a Modification is made @ CIF/Account Level, either it has to be cancelled (by same user) or verified in respective menu. If not, either Int. will not get executed during EOD or those accounts cannot be closed due to such pending/unverified records.

5) Always check for any pending/unverified records in HAFI menu even before proceeding for account closure. This is also essential for proper submission of EOD.

6) Bonus (only for MIS), Int., & PMI (if applicable), will be generated only if the account closure is attempted in aforementioned closure menus for respective schemes. If SI (applicable only for RD) is given, please make sure that before closing RD accounts, this SI has been lifted from such RD A/c and verified at the same time.

7) For any emergency or investigative cases arising during account closure, kindly address those with concerned SBCO/D.O/R.O/C.O. Also refer the Rules, Regulations as laid down in various POSB Manual Volumes & SB Orders released from time to time. Status Quo has to be maintained for such cases.

8) It is always advisable to credit the closure proceeds to Savings Account of the Depositor benefiting the customer to withdraw as per norms/their wish. It is also necessary to make sure that CIF of the matured account is the same CIF as that of SB account. If not, kindly arrange to merge the same through HCCA and proceed for account closure.

9) While closing the accounts held in other SOL, it is necessary to obtain SOL transfer request along with SB 10(b), from the customer with fresh KYC. Thereafter proceed for SOL transfer through HACXFSOL & notify this to the concerned SOL through HO/SBCO. Even before closure, check whether the entries are up-to-date as listed in the above points. 

10) There is a limitation for extending accounts beyond maturity as for eg: For RD/TD, there is automatic renewal. However for PPF and SCSS A/cs, please obtain the request from the depositor & extend manually through HCEXTN, HEXCDM menus respectively. As if PPF is extended, it cannot be closed for a further period of 5 years & if SCSS is extended, it cannot be closed within a year.

Based on these, we can reduce the manual errors to a large extent apart from technical limitations in Finacle. It is hereby kindly requested to address these to associating all 23,199 Live SOL's till date by any good means of communication. This may be shared to all concerned for future reference as well. 

February 21, 2017 , ,
1. Filled Form-NC29 for the Issue of Duplicate Certificate


2. Statement showing the details of NSC– such as number, amount and the date of certificate and the circumstance attending such loss, theft, destruction, mutilation or defacement.


3. Bond of Indemnity – In case of mutilated or defaced certificates, no indemnity bond is required. But for lost, stolen, destroyed, you also need to submit bond of indemnity. You also need to furnish an indemnity bond in the prescribed form with one or more sureties or with a bank guarantee is required.
A- Bond of Idemnity (Form NC-54(a))
This form is used for issuance of a duplicate National Savings certificate(s) in lieu of lost, misplaced, spoiled or mutilated certificates.
B- Bond of Idemnity (Form NC-54(b))
This bond of indemnity is to be executed for the issue of a duplicate certificate(s) in lieu of lost, misplaced, spoiled or mutilated certificates with a Bank guarantee.
C- Bond of Indemnity (Form NC-61)
This bond of indemnity is to be executed at the time of discharge of original certificates or Issue of duplicate certificate(s) in lieu of lost, misplaced, spoilt, destroyed, defaced or mutilated certificate (s), where original application for purchase is missing.
4. Copy of FIR – If the Certificate is lost, stolen, destroyed.

5. Identification Document of Surety – e.g. Valid Indian Passport, Indian Driving License, Salary Certificate of the Surety.

6. Payment Receipt of Fees for Issue of Duplicate Certificates (Fee Rs.5)

If the officer-in-charge of the post office of registration is satisfied of the loss, theft, destruction, mutilation or defacement of the certificate, he shall issue a duplicate certificate on the application.

Things you should Know
A duplicate NSC certificate shall be treated as equivalent to the original certificate for all the purposes of these rules except that it shall not be encashable at a post office other than the post office at which such certificate is registered without previous verification.

Shared  by Nityananda Sarkar

February 21, 2017 , ,
Following clarifications are issued, which may be circulated to all CBS Post Offices:- 
After following the existing procedure of issue of Duplicate Certificate and approval from the competent authority, Head Post Office shall do Duplicate passbook printing by the two steps mentioned below :- 
  • Use CSCACM to change the Account Statement option from 'Deposit Receipt' to 'Passbook' 
  • Duplicate PB issue date should be entered by the user​ in the relevant field provided in addition to changing the Account Statement field. 
  • Supervisor to verify the account in CSCACM 
  • Print passbook using HPBP
HO should maintain separate register for recording details of issue of such duplicate passbooks. If certificates issued prior to 1.7.2016, Registration number and physical certificate numbers should be entered manually in the Passbook under signature and designation stamp of Authorized Official.​ 

Circle Processing Centre (CBS)

February 16, 2017 , , ,
Sometime When We discharge the KVP or NSC, an error "Run Time error has occurred" is coming. The error is looking like below snap shoot.


Reason of Error :- When you see the screen shoot, you get the thing that the accounts of SOL are 45800100 and These are discharged at 31260501. So this error is coming while discharge the certificate in CSCCAAC

Solution :- First SOL Transfer In should be done for other SOL accounts in HACXFSOL and verify every account. Now these accounts are standing at Home SOL. You can discharge these accounts without any error.

February 04, 2017 , , , , ,
  • Generally in DOP we will open the accounts through agents if the customer opts but now a days when are trying to open the accounts(MIS/TD/NSC/KVP) we are facing the error.
  • The error mentioned is "The agent you input has not linked to the current scheme code,please setup it proper" in DOP Finacle
The error screen shot appears as shown in the below figure


From the above screen shot it is clear when the user trying to open KVP account system is showing the attached error.

Root cause of the above Problem:- 
The above will occur in one of the two following cases mentioned below in detail for the ease of the users in DOP Finacle

Case 1 :- If the said product is not added to the said DSA ID then the system will show the above error screen shot while opening the account

Case 2 :- Also check the field "Fixed commission start date" in the tab commission parameters by invoking the menu HDSAMM inquire function.


Solution for the above Problem :- 
The solution for the above mentioned 2 cases are mentioned below so that users can open the agent accounts without any error.

Case 1 :- If the said product is not added to the said DSA ID then the system will show the above error screen shot while opening the account

Solution :- Check in Products tab whether the said scheme code is added or not if not add the scheme code and try to open the account through agent system will not throw the error.

Case 2 :- Also check the field "Fixed commission start date" in the tab commission parameters by invoking the menu HDSAMM inquire function.

Solution :- Change the filed "Fixed commission start date" in the tab commission parameters by invoking the menu HDSAMM inquire function to current date(i.e., date should not be future date). Then try to open the account through agent system will not throw the error.

Even after rectifying the above steps even if the error occurs then report the same issue to your respective CPC to get the solution from the Infosys HD team.

July 06, 2016 , , , , , , , , , ,
Steps to to find the Misplaced Instruction No of Account Transfer (HACXFSOL) Transaction in DOP Finacle
  • Invoke Menu Option HAFI
  • The following the screen will be displayed 

  • Now Enter the SOL ID : __________
  • Table Short Name : ATT
  • Reference Number : Two times Space (Press the Space button two times)
  • Authorized : Select Not Authorized
  • Go (F4)


Now you will get the following screen where you can find the misplaced instruction number of the account transfer operation done in menu option HACXFSOL
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