POSB Volume and relevant Orders - SB and SC Complied Materials for easy reference

SB and SC materials for immediate reference 


Compiled by: - M.SIVAKUMAR

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SB Order No.09/2018 : POSB (CBS) Manual Standard Operating Procedure (SOP) for operation of POSB schemes in Core Banking Solution (CBS) platform

SB Order No.09/2018 : POSB (CBS) Manual [Standard Operating Procedure (SOP)] for operation of POSB schemes in Core Banking Solution (CBS) platform ( Containing 301 pages)

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SB Order 10/2018 contains Minimum Deposit of Rs.250/- Configured for SSA Account configured in DOP Finacle

Necessary configuration have been done in Finacle as per SB Order 10/2018.
Minimum deposit for a financial year is Rs.250/-
Deposit at the time of account opening has to be validated procedurally, as being done now.

The change in RICT CBS Client Version is not yet done; hence devices will expect a minimum deposit of Rs.1000/- at the time of account opening. In such cases where the customer is opening account with a deposit below Rs.1000/-, the concerned account office can open the account in Fincore.

For defaulted accounts, previous year arrears will be calculated at the rate of Rs.1000/- only and for the current year, minimum deposit of Rs.250/- will be accepted along with penalty of Rs.50/-. Eg. for an account in which no deposit was done during 2017-18, Rs.1300/- will be expected as deposit during this year instead of Rs.2050.

Issues if any may kindly be reverted immediately.

Thanks and Regards
Gopinath S
Inspector Posts
DMCC
Chennai 600 002

Cash in ATM - Rajya Sabha Q&A

Ministry of Finance
Cash in ATMs
Posted On: 24 JUL 2018 4:03PM by PIB Delhi

The Government is aware of the newspaper reports that several ATMs have shown no-cash boards.

RBI has informed that the increase in demand for currency recently, which led to high ATM usage, can be attributed to seasonal and structural issues. Seasonal issues include demand for cash in the agriculture sector, and Schemes such as Investment Assistance Schemes for Farmers and Pension Schemes announced by a few State Governments. Structural issues include economic growth, high currency deposit (CD) ratio in some states, etc.

Regular monitoring of cash availability and ATM functionality has been done by the Government to ensure that sufficient currency notes are made available so that ATMs do not run dry in any eventuality and people do not face any problems.

RBI has further informed that as on 18.07.2018, the total stock of issuable currency in the country, including RBI vaults and currency chests of all banks across the country, was 2.93 lakh crores. Further, the position of fresh / re-issuable notes in currency chests of banks and in RBI vaults are being monitored on a regular basis and adequate supply of cash is being ensured.

This was stated by Shri Shiv Pratap Shukla, Minister of State for Finance in written reply to a question in Rajya Sabha today.

SB Order 10/2018 : Amendments in statutory rules of Sukanya Samriddhi Account Rules 2016 by Ministry of Finance (DEA)

SB Order 10/2018 : Amendments in statutory rules of Sukanya Samriddhi Account Rules 2016 by Ministry of Finance (DEA) dated 23/07/2018


CBS Patches Deployed in DOP Finacle


SB Order 08/2018 : Revision of Interest rates for Small Savings Schemes


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