Thursday, June 23, 2016

Finacle Training Lesson 18 - SB & PPF A/c Closures

Finacle Training Lesson 18 - SB & PPF A/c Closures


Finacle Training Lesson 18 

Previous Lesson: FinacleTraining Lesson 17

Recap :

In the previous lesson we have learnt about how to close RD accounts and the various scenarios in RD account closure. In today's lesson we will see how to close SB and PPF accounts. In the next lesson we will see how to discharge certificates and conclude the closing of accounts. Closure of NSS 87/92 etc other discontinued schemes we will see at the end of all the training lessons that too if necessary.

SB Account Closure:

SB account closure is very easy but there are some conditions to be fulfilled for the account to properly closed in finacle. Most of the times finacle throws errors while closing SB accounts. So we generally recommend to avoid SB account closures. Convince the customer to maintain the account with a minimum balance of Rs.50/-. Most of the customers will agree. But there will be some customers who will directly call CPMGs or even MoC&IT himself. For those customers follow the below steps.

The menu for SB account closure is HCAAC. Invoke the menu HCAAC and the following screen will appear.

In this screen as usual choose function as Close and enter a/c id. Then choose transaction type as Cash for cash payments or Transfer for payments by RBI cheques.

Then click on Go or press F4. Now a new screen will appear as follows. See the image below.

As you can see in the image two tabs will appear on screen. A/c information tab and Closure tab.

In the a/c information tab make sure that A/c status is Active. If A/c status is silent, closure will fail. Also the account should not be frozen and there should not be any linked accounts to this SB account. Otherwise the closure will fail. 

In our book PINEAPPLE we have clearly discussed all the cases of SB account closure failure conditions. Make sure you are following our book.

If everything is fine in A/c information tab click on Closure tab. The following screen will appear. See the image.

In the closure tab just enter the closure reason code (by clicking the searcher beside it). In most of the case closure reason code will be NORML - normal closure only. Other cases may be DTCLM- death claim.

That's all click on Submit. Verify using the same menu HCAAC in supervisor login.

Now let us see how PPF accounts are closed.

PPF Account Closure:

PPF account closure is same as SB account closure. Same menu, screens and conditions. Fortunately cases where PPF account closure will fail are very less.

I therefore leave PPF account closure topic as practice for you.

So that's it for today's lesson. See you again in the next lesson. In the next lesson we will discuss about certificate discharge.

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