11 Fin lesson 6

Remittances

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In this session, you will learn to:Identify the various remittance options available in FinacleUnderstand the process involved in the issue of Demand Drafts (DDs) and Pay Orders (POs)Understand the working of the DDSM menuUnderstand the process involved in the payment of DDsUnderstand the process involved in the inquiries of DDs

Objectives

Remittances

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Various options for remittances are:Issue of DDsIssue of PosPrinting of a DD/POCancellation of a DDIssue a duplicate DDMarking a lost DDPayment of a DDInquiries and reports on DDs

Introducing Remittances

Remittances

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The activities related to remittances:Issue of cash/transfer DDs at the branch.Hot listing of DDs/Pos, which are lost or misplaced.Issue of cash DD/PO only up to Rs. 50000, including charges.Charge cash DD/PO twice as that of normal remittance charges.

Introducing Remittances (Contd.)

Remittances

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Scenario:Mr. Surendar, who is residing locally, wants to send money to his father, Mr. NarendarHis father is residing at BangaloreHe is sending Rs. 45000 by remitting cashMr. Surendar hands over the DD application along with cash to a Teller

Issue of DDs and POs

Remittances

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Solution:Scrutinise the challan for details and correctnessEnter the details in the system using TM menu optionWrite down the DD number and Tran ID in the applicationHand over the application to an Officer for verification

Issue of DDs and POs (Contd.)

Remittances

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Officer performs the following steps:Ascertains the correctness of the details in the system using TM menu option.Signs the application and marks the transaction as verified.Prints the DD using DDPRNT menu option.Makes the security markings on the DD Signs the DD with his Specimen Signature Number.


Remittances

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Writes the DD inventory number in the application.If the DD is within his signing power, then the steps performed by the Second Officer are not required.If the DD is beyond his signing power, hands over the DD along with the application to the Second Officer for counter signature.


Remittances

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Let’s see how to issue a DD by accepting cash

Menu Option Used : TM

Remittances

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Let’s see how to verify a DD transaction


Remittances

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Let’s see how to print a single DD

Menu Option Used : DDPRNT

Remittances

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Let’s see how to make inquiries in a DD

transaction


Remittances

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Additional Menu Options for Printing of DDs:DDPALLDDBP

DDPALL menu option is used to print all unprinted DDs. DDBP menu option is used for batch printing of DDs one after another.


Remittances

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Let’s see how to print all unprinted DDs

Menu Option Used : DDPALL

Remittances

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Let’s see how to perform batch printing

Menu Option Used : DDBP

Remittances

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Scenario:Miss Subashini, who is residing locally, wants to send money to her brother, Mr. Kamalesh for Rs. 100000 from her accountMr. Kamlesh resides at BangaloreMiss Subashini hands over the DD application along with cheque to a Teller


Remittances

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Solution:Scrutinise the DD application for current date, commission amount, payee name and signatureCall for the account of Miss Subashini for inquiry in the system using ACM menu optionVerify SignatureAscertain balance availabilityEnter the details in the system using TM menu optionHand over the application to an Officer for verification


Remittances

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Officer performs the following steps:Ascertains the correctness of the details in the system using TM menu option.Signs the application and marks the transaction as verified.Prints the DD using DDPRNT menu option.Makes the security markings on the DD Signs the DD with his Specimen Signature Number.Writes the DD inventory number in the application.If the DD is within his signing power, then the steps performed by the Second Officer are not required.If the DD is beyond his signing power, hands over the DD along with the application to the Second Officer for counter signature.


Remittances

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Let’s see how to make inquiries in an account

Menu Option Used : ACM

Remittances

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Let’s see how to issue a DD by transfer from

an account


Remittances

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Let’s see how to verify the DD transaction


Remittances

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Let’s see how to print a DD

Menu Option Used : DDPRNT

Remittances

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The steps for issuing, printing and paying POs are same as that of DDs.The only difference is that user has to select the PO account instead of the DD account.


Remittances

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Let’s see how to generate a report of

outstanding POs

Menu Option Used : BCREPORT

Remittances

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Scenario:Miss Subashini purchases a DD for Rs. 100000She favours Mr. Kamalesh, on BangaloreShe informs you that DD is lost and requests for a duplicate DDMiss Subashini gives a letter to a Teller for the same

DDSM

Remittances

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Solution:Call for the application challan of the date of issue of DDAscertain that the signature in the letter matches with that in the applicationCall for the DD record in the system using DDSM menu optionNote down the status of the DD in the letterIf the DD status is paid, inform the same to the customerIf the DD is not paid, update cautioned status and hand over the letter to the officer for verification

DDSM (Contd.)

Remittances

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The officer performs the following steps:Calls for the record in the system.Ascertains the details entered.Records as verified in the letter and in the system using DDSM menu option.Hands over the letter back to the Teller for cancelling the lost DD.

DDSM (Contd.)

Remittances

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The teller performs the following steps:Enters transaction for cancellation of the DD in the system using DDC menu option.Writes the Tran ID in the letter and initials.Hands over the letter to the Officer for posting and verification.

DDSM (Contd.)

Remittances

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The officer performs the following steps:Ascertains the correctness of the transaction in the system using DDC menu options.Posts all the part trans in the system.The letter is sent to the “DD ISSUE TRANSACTION PROCESS” for issuing a fresh DD:

In this process, the letter and a fresh DD is handed over to the officer

DDSM (Contd.)

Remittances

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Let’s see how to modify the DD status maintenance

Menu Option Used : DDSM

Remittances

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Let’s see how to verify the DD status maintenance

Menu Option Used : DDSM

Remittances

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Let’s see how to perform DD cancellation

entry

Menu Option Used : DDC

Remittances

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Let’s see how to post and verify the DD

cancellation

Menu Option Used : DDC

Remittances

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Scenario:Mr. Kamal Trivedi brings DD No.1 issued by your main branch at Bangalore for Rs. 12500He wants it to be credited to his Savings Bank account 00000100001519He hands over the DD along with pay-in-slip to a Teller

DD Payment

Remittances

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Solution:Scrutinise the pay-in-slip and DDAscertain that the details are entered properlyAffix the transfer stamp on the DD and pay-in-slipSign the counterfoil, hand it over to the customerEnter the amount, particulars, inventory type, DD number, and date in the system using TM menu OptionWrite down the Tran IDHand it over to the officer for verification

DD Payment (Contd.)

Remittances

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Let’s see how to post DD transaction


Remittances

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Let’s see how to verify a posted transaction


Remittances

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Inquiries on DDs issued can be made using two menu options:

DDII: Menu option for Specific DD Issued InquiryDDIC: Menu option for DD Credits Inquiry

Inquiries on DDs paid can be made using two menu options:

DDIP: Specific DD Paid Inquiry DDID: DD Debits Inquiry

DDIR menu option generates issue reports of DDs

Inquiries on DD

Remittances

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Let’s see how to inquire the details of

a DD

Menu Option Used : DDII, DDIP

Remittances

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Let’s see how to inquire the details of DDs for a particular

range of amount

Menu Option Used : DDIC and DDID

Remittances

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Let’s see how to generate issue reports

Menu Option Used : DDIR

Remittances

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Practice Questions

Remittances

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In this session, you learnt that:Finacle provides the following options related to remittances to its customers:

Issue of DDsIssue of PosPrinting of a DD/POCancellation/duplicate issue of a DDMarking caution of a DD lostPayment of a DDInquiries on DDs

Summary

Remittances

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The activities performed at the branch are: Cash/transfer DD are issued at the branchHot listing of DDs/POs lost or misplacedCash DD/PO must be issued only up to Rs.50000

DDs and POs are issued through Transaction Maintenance (TM).DDs drawn on one's branch will be paid once they are presented for payment.DDSM is the menu through which the status of a DD can be ascertained.

Summary (Contd.)

Remittances

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Inquiries on DDs can be made through DDII, DDIC, DDIP and DDID menu options.

Summary (Contd.)

11 Fin lesson 6

Documents

Transcript of 11 Fin lesson 6