For implementing SB Order No.16/2020 dated 11/04/2020, patch for accepting previous financial year transactions in PPF / SSA accounts without default fee is being deployed tonight in Finacle.
C1920 - COVID-19 20
New Report Code Introduce For PPF and SSA Account Transaction For Financial Year 2019-2020
SOL users should follow the instructions given below:
For PPF / SSA accounts with which deposits less than 1.5 lakhs made in previous FY (maximum allowed amount in a financial year),
👉 A single deposit can be made for previous FY through CPDTM with report code as C1920
For PPF / SSA accounts discontinued in FY 2019-2020,
👉 A single deposit without default fee can be made for the FY 2019-2020 through CPDTM with report code C1920 with a maximum amount of Rs.1.5 lakhs
For PPF / SSA accounts discontinued prior to FY 2019-2020,
👉 A single deposit with default fee for financial years prior to 2019-2020 can be made for the FY 2019-2020 through CPDTM with report code C1920 with a maximum amount of Rs.1.5 lakhs
For PPF accounts matured on 31/03/2019 but not extended till 31/03/2020, if the customer comes for deposit for previous FY 2019-2020,
Approval is to be obtained from Divisional Head for extension and scanned copy is to be sent to CEPT team through CPC and CEPT team will do extension.
After extension,
👉 A single deposit for previous FY without default fee with report code C1920 through CPDTM wlth a maximum amount of Rs.1.5 lakhs is to be accepted.
For PPF accounts matured on 31/03/2020 but no deposits are made in FY 2019-2020,
👉 A single deposit can be made with report code C1920 through CPDTM with a maximum amount of Rs.1.5 lakhs can be accepted. After this deposit, the account can be extended and current FY deposit can be accepted.
For PPF Invalid accounts opened in the financial year 2019-2020 but minimum deposit amount of Rs.500- is not made in the account,
Deposits cannot be done now.
If any customer wants to deposit for previous FY and current FY,
👉 Then 2 deposits are to be made by the SOL -
• One for previous FY with report code C1920 and another
• One for current FY with report code CONTR
If any cheques cleared before 01/04/2020 and pending for deposit in PPF / SSA accounts,
👉 Deposits are to be made with report code C1920 and value date.
For all deposits except cheque deposits value date should be SOL BOD date as interest is applicable from date of deposit only as per SB order.
For cheque deposits value date should be date of clearance.
Deposits for current FY only can be accepted through Mobile Banking / IPPB / RICT channels.
Patch will be deployed for E-Banking to accept previous FY deposits;
Confirmation will be sent after deployment.
IPPB / RICT customers who want to deposit for previous FY, should be advised to deposit at the counters of nearest PO.
In addition to the above patch, the following functional patches are deployed.
• Patch to resolve the issue in RD discontinued account closure through EBanking
• Signature files uploaded through SFTP are not properly moved to Finacle when network connectivity issue is faced.
To overcome this issue, retry mechanism is introduced for moving signature files to Finacle.
• Patch for allowing cancel operation in CSCCAAC menu for accounts frozen with freeze code SCWFR.
• RICT unique number is not validated in CASBAM Modify option.
Regards
Giriraj Ponnambalam
Deputy Manager (FSI)
CEPT Chennai 600002
