Clarifications on different scenarios being faced or likely to be faced in CBS Post Offices

Clarifications on different scenarios being faced or likely to be faced in CBS Post Offices

1.Scenario:- When a certificate holders attend CBS Post Office from where Certificates were purchased for transfer of certificates to another CBS Post Office.

The Counter PA or Supervisor or Postmaster should politely request the Certificate holder that since CBS has been implemented in the office, where he wants to transfer certificates, there is no need for transfer of certificates as he/she, on maturity, can take payment from any CBS Post Office after giving fresh KYC documents.

2.Scenario:- When a Certificate holder attends any CBS Post Office to encash certificates either on maturity or for premature closure where certificates were purchased from other CBS Post Office.

The Counter PA should first go to HACLI and see that Certificates are genuine and stand in Finacle. He/She will verify signatures of the holder(s) on the certificates with that available in Finacle. Once, it is confirmed from the signatures that holder is genuine, holder should be asked to fill NC-32 and give fresh ID as well as Address Proof and Mobile number. After proper verification of KYC documents, Certificates first be transferred IN by using HACXFSOL. Customer’s new address and mobile number should be entered through account modification menu and it should be verified by Supervisor. Then payment should be made by crossed cheque or credit to savings account. Payment should not be made by cash in any case. If holder wants re-investment, closing proceeds should be transferred to Re-investment office account (0387) and credit re-invested amount into newly opened account/certificate. Remaining amount can either be credited to savings account or paid back by cheque.

If certificates belong to the period of pre-migration, an intimation of discharge should be sent to the office of issue by service registered post which will make discharge entry in the Purchase Application.

NC-32 and KYC documents should be sent to CPC of the office where payment is being made. CPC will scan the document and attach the same with CIF.

3.Scenario:- When any claimant presents certificates issued by another CBS Office alongwith claim application form for payment or transfer to claimant’s name.

In CBS environment, claim form can be submitted at any CBS post office. When such a claim is presented at any CBS post office, first of all, user has to enter date of death in the CIF and supervisor has to verify. Then procedure of settlement of deceased claim case has to be followed. After sanction of claim, if claimant wants payment, procedure mentioned in scenario 2 should be followed. If claimant wants to transfer of certificates in his/her name, open new CIF in his/her name based on new AOF(if no CIF is available in his/her name) and attach the existing Certificates (Accounts) with new CIF. Name of holder can be changed through menu HAALM.

In this case also, If certificates belong to the period of pre-migration, an intimation of discharge or sanction of claim should be sent to the office of issue by service registered post which will make discharge entry in the Purchase Application and attach sanction memo.

Claim Application Form and KYC documents of claimant and Account Opening Form (AOF) should be sent to CPC of the office where payment is being made or claim is sanctioned. CPC will scan the document and attach the same with CIF.

4. Scenario:- When Account Holder of MIS/SCSS/TD scheme approaches CBS Post Office, where account stands for transfer of accounts before maturity to another CBS Post Office.

The Counter PA or Supervisor or Postmaster should politely request the Account holder that since CBS has been implemented in the office, where he wants to transfer Accounts, there is no need for transfer of Accounts as he/she, on maturity, can take payment from any CBS Post Office after giving fresh KYC documents. Whenever any account is closed at the office other than the office where account was opened, payment should not be made by cash in any case and payment should either be made by crossed cheque or credit to savings account (where required KYC documents have been taken). Monthly/quarterly or Yearly interest can also be withdrawn at any CBS Post Office.