Dealing of Non Migrated POSB Account in DOP Finacle when it is migrated in wrong scheme

How to deal the non migrated account when migrated in wrong scheme?

For clarity regarding handling these transactions at post offices, following illustrations may be referred.

(When Account is migrated in wrong scheme)

Assume that one NSS-87 account bearing Number g87xxxxx10 opened on 02.03.1989 having a balance of 7 3,25,4201- as on 31.03.2023 is received for closure in the counter at Chennai GPO (SOL lD 60000100) and Counter Assistant found that the account was wrongly migrated as NSS-92 account in Finacle. ln such case, the following transactions are to be performed.

(i). NSS-87 Account will be closed by following the procedure prescribed in SB Order No. 1812023.

(ii). ln addition, on the day of closure of NSS-87 account, the NSS-92 account (same account number which is a wrongly migrated account has to be closed in Finacle and the maturity amount may be credited in SOLID+0340 and no cheque payment shall be made.

NSS-92 Closure Details:

1. Principal Amount payable     Rs.3,25,4201/-

2. Current Year interest             Rs.22,3731/-

3. Maturity Amount                     Rs.3,47,793/-

FINACLE ACCOUNTING PROCEDURE

(iii). ln addition, the following transaction entries are to be made in Finacle using

HTM menu, for contra accounting.

DEBIT    : Postmaster's Cheque Account SOLID+0340 TOTAL AMOUNT

CREDIT  :

1. SOLID+MXN9P - PRINCIPLE AMOUNT

2.SOLID+MXN9I   - INTEREST AMOUNT

TRANSACTION PARTICULARS : 

NSS 87 AC NO XXXXXXXX WRONGLY MIGRATED AS NSS92(MAXIMUM CHARACTERS -50)