THIS BLOG IS BASED ON COMPLETE KNOWLEDGE ABOUT FINACLE COMMANDS,TIPS AND TRICKS.

Friday

Stop Payment of Cheque

How to Stop Payment of Cheque Procedure in Finacle.

For Stop Payment of Cheque

  • Go to the menu option SPP. The following screen will appear
STOP PAYMENT OF CHEQUE PROCEDURE
  • Function: S (Stop) & Press F4 then Enter Account No. Press F4
  • Enter Begin Cheque No. and No. of Leaves and Press F4
  • After pressing F4 the Date & Time automatically comes
  • Enter Payees Name, Cheque Date (if known), Cheque Amount (if known)
  • Select Reason Code and Press F4 for accepting General Details
  • In Option enter ‘C’ for collecting charges and Press F4
STOP PAYMENT OF CHEQUE PROCEDURE
  • The screen shows the default charges. You may change the charges if required.
  • For accepting charges Press F4
  • Press F10 for commit
  • Stop payment is registered.

For Verification of Stop Payment of Cheque

  • Go to the menu option SPPAU. The following screen will appear.
STOP PAYMENT OF CHEQUE PROCEDURE
  • Function: V (Verify) & Press F4 then Enter Account No. Press F4
  • Enter Begin Cheque No. and Press F4
  • Verify the General Details & Press F4 for accepting General Details
  • In Option enter ‘C’ for verifying charges and Press F4
STOP PAYMENT OF CHEQUE PROCEDURE
  • Verify the charges and Press F4 for accepting charges and Press F10 for commit.
STOP PAYMENT OF CHEQUE PROCEDURE
  • After verifying SDC will be generated by the system. This SDC is for Stop Payment Charges.
  • Inquire the same through TM menu, whether it is posted or not. If not, post it through TM.
  • The Stop Payment instruction stands verified.

For Revoking Stop Payment of Cheque

  • Go to the menu option SPP
  • Function: R (Revoke) & Press F4 then Enter Account No. Press F4
  • Enter Begin Cheque No. and Press F4
  • Stop Payment Details will appear then Press F4 for accepting the same
  • Now Press F10 for commit

For Verification of Revoking Stop Payment of Cheque

  • Go to the menu option SPPAU
  • Function: V (Verify) then Enter Account No. Press F4
  • Enter Begin Cheque No. and Press F4
  • Stop Payment Details will appear then Press F4 for accepting the same
  • Now Press F10 for commit

THANKS FOR READING☺️

Thursday

SRM : Security Register Maintenance

SRM: Security Register Maintenance

We need to make the Set-up of Security Register Maintenance (SRM) for linking to Cash
Credit Account. The availability of funds in CC Account is depending upon the Drawing Power.
The Drawing Power calculation can be derived from Security linked to that account.

SRM / Security Register Maintenance  is used for maintenance of security and drawing power allocation in respect of all advance accounts where
drawing power is derived from securities.

Functions

The Security Register Maintenance (SRM) has two important functions –
(a) Maintenance of particulars of the securities submitted by a client and
(b) Allocation of drawing power to an account
(c) Other utilities include: -
1. Stipulation of maximum drawings allowable against security to the relative account.
2. Classification of the security as Primary / Collateral.
3. Maintenance of the Market Value, Repurchase Value, Face Value with options to specify
which is to be used, Margin to be retained, whether additional details like Insurance,
Charges, Income, and Expenses are required or not.
4. The system provides linkage to Interest Computation for computing additional interest for
non-submission of Stock.
5. If the security is a Deposit Account, a lien is marked on the account for the value of the
Advance Amount / Limit Sanctioned and the component of available balance is updated
appropriately.

For Set-up of Security Register Maintenance

1.Security Details:

  • Go to the Menu option and enter option SRM. (Screen shown below will appear)
Security Details of Security Register Maintenence
  • Function: A (Add) and Linkage Type ‘A’ – Linked to Account (If there is Limit Node for this account so, choose ‘N’ if so, put Node ID). For 'A' you have to enter Account No and Press F4.(A new Screen shown below will appear).
Security Details of Security Register Maintenence
  • Select appropriate Code for: Security code, Security Group, Security Class.
  • Enter Ceiling Limit of Security
  • Enter Margin Percentage as per sanction letter
  • Nature of Charge:
  1. Pledge-If Securities are Shares, NSC, Car, Bank’s Term Deposit etc.
  2. Hypothecation-If Securities are Stock, Book Debts etc.
  3. Mortgage-If Securities are Building, Plot, Flat etc.
  4. Assignment-If Security is Insurance Policy
  • Enter Received Date i.e. Stock Statement Date (If Security is Stock, Book Debts etc.) and enter Due Date of the same.
  • Frequency: This frequency pertains to Stock Statement Frequency, which submits by the borrower in future.
  • Unit Value is for the Securities like Shares, Term Deposit Receipts, NSC etc.
  • If you have entered Unit Value, so enter No. of Unit also.
  • Security Value: In case of securities like Stock, Book Debts, Car, House put the total value in the filed
  • Primary / Collateral: Enter ‘P’ for Primary Security and ‘C’ for Collateral Security.
  • An Important aspect is drawing power is only derived from Primary Security.
  • After completion of the information Press F4 for accepting Security Details.

2.Charge Details:

  • In Option, field enter ‘C’ and Press F4 for filling Details of Charge on Security.
  • Again in Charge Details enter ‘A’ (Add) in Option and Press F4 then the following screen will appear:
Charge Details of Security Maintenence Register
  • Fill all the Charge Details appropriately and Press F4 for accepting Charge Details.
  • In Enter Option put ‘S’ and Press F4 for going back in Security Screen.

3.Insurance Details:

  • In Option filed enter ‘N’ and Press F4 for filling Details of Insurance
  • Again in Insurance Details enter ‘A’ (Add) in Option and Press F4 then the following screen will appear:
Insurnace Details of Security Register Maintenence
  • Fill all the Insurance Details appropriately and Press F4 for accepting Insurance Details.
  • In Enter Option put ‘S’ and Press F4 for going back in Security Screen.

4.Inspection Details:

  • In Option, field enter ‘P’ and Press F4 for filling Details of Inspection.
  • Again in Inspection Details enter ‘A’ (Add) in Option and Press F4 then the following screen will appear:
Inspection Details of Security register Maintenence
  • Fill all the Inspection Details appropriately and Press F4 for accepting Inspection Details.
  • In Enter Option put ‘S’ and Press F4 for going back in Security Screen.
  • Press F10 for commit.

For Verification of Set-up of Security Register Maintenance

  • Function: V (Verify) and Press F4
  • Then Verify all the above screen i.e. Security, Charge, Insurance and Inspection one by one as per the procedure of above only instead of ‘A’ – Add in option at every screen input for ‘I’ – Inquiry.
  • After completion of all Press F10 for commit.

Note: 

The SRM activity is to be done after every account opening of Cash Credit, Loan
against FDR / Shares/ NSC/ LIC etc., Housing Loan, Two / Four Wheeler Loan or any other
loan against security.

THANKS FOR READING☺️

Sunday

SIM : Standing Instructions Maintenence

A Brief Introduction to SIM :Standing instructions Maintenance

Banks render services to their customers by complying with given standing instructions. Customer
gives these instructions to their banker, which relates to certain financial dealings like transfer of
funds. These instructions are meant either for a specific period mentioned by the customer or until
further instructions from the customer in the matter.
e.g.  A customer took a term loan from Bank and had an Equated Monthly Installment (EMI) of 3500/- (Rupees three thousand five hundred per Month).As the Bank sanctions a lot of Loans in favor of the Customer.So,its difficult for them to Deduct EMI manually in finacle using TM. SIM option in finacle helps them in creating two Parts of the Tran one is Debit and Other is Credit.

Now we will see the procedure to maintain the Standing Instructions in Finacle:

  • Go to the Menu Option and Enter SIM,After entering the SIM option there are Different types of details 

  1. General DetailsGeneral Details are the details in which Customer's Customer Id, Main  Account No, SIM frequency, Next Execution Date, End Date and Remarks are entered. 
  2. Debit Part TranIn these details you have to enter Debit Account Number, Debit Amount and Debit remarks
  3. Credit Part TranIn these details you have to enter Credit Account Number,Credit Amount and Credit Remarks.

Starting with

1. General Details: 

  • After entering the option SIM below shown screen appears.

http://finaclecommands.com
  • Function: A (Add) Press F4. Then enter the details as below:
  • In SI Class input ‘C’ for Customer Induced or ‘B’ for Bank Induced
  • Input Customer ID and Enter SI Frequency i.e. D-Daily, W-Weekly, F-Fortnightly,M-Monthly, Q-Quarterly, H-Half Yearly and Y-Yearly.
  • Enter Execution Time i.e. B-Beginning of Day, D-Anytime during Day, A-After business hours and E- Every time
  • Specify Next Execution Date of SI. Enter in Auto Post- Y. Then End date of SI.
  • Delete Transaction if not posted? - Y for deleting. Then Carry Forward –Y and Max. Time for such carry forward.
  • Generally the SIM is executed on 1st of every month.
  • After filling all details Press F4 and General Details are accepted.

Saturday

How to Lien Mark an account in finacle

                           Account Lien Maintenance

In order to earmark funds for any reason the same needs to be blocked and not made available for the account holder. To achieve this objective a Lien for the purpose needs to be done. The process of marking lien for an account can be done through menu option ALM. The process of marking Lien is different from Freezing the Account.

Now we will see how to mark lien on account in Finacle:


  • Go to the menu option ALM and enter. Following screen will appear:
http://finaclecommands.com
  • Function: A (Add) & Press F4
  • Then Enter Account No. and Press F4
  • Then enter Lien Amount, expiry date of Lien and select appropriate Lien Reason Code
  • Input remark, if any in Lien Remark field and Press F10 for commit
  • Lien Set-up is over now.

For Verification of Account Lien Set-up:

  • Go to the menu option ALM and enter.
  • Function: V (Verify) & Press F4 
  • Then Enter Account No. and Press F4 (Note:Make Sure to enter Account No don't Press F2                                                                      otherwise user will get into working mode)
  • Details of lien will appear. Verify it and Press F10 for commit.
  • Account Lien Set-up stands verified.

Now, we will see the procedure of removing the lien of account in Finacle:

  • Go to the menu option ALM and enter. Following screen will appear
  • Function: M (Modify) & Press F4
  • Then Enter Account No. and Press F4
  • Then modify Lien Amount as ‘ZERO’
  • Input remark, if any in Lien Remark field and Press F10 for commit
  • Removal of Lien is over now.

For Verification of Removal of Account Lien:
  • Go to the menu option ALM and enter
  • Function: V (Verify) & Press F4
  • Then Enter Account No. and Press F4
  • Details of lien will appear. Verify it and Press F10 for commit.
  • Removal of Account Lien stands verified.


THANKS FOR READING☺️

How to freeze an account in finacle.

                                   Account Freeze Maintenance

Bank need to freeze the account for various purposes as per the freezing orders by different
types of authorities. Bank itself also freeze the account of customer, if he/she would be a
defaulter. In the Lien marking, we have to put the same on amount, as it is amount specific.
Hence, in case of Freeze Set-up it is event specific mean we will restrict transactions i.e. debit
only, credit only or total freezing.

Now we will see the procedure of freezing the account:


  • Go to the menu option AFSM and enter. Then following screen will appear:
 http://finaclecommands.com
  • Function: F (Freeze) & Press F4
  • Then Enter Customer ID No.
  • Then select Freeze Reason Code & Freeze Code. Press F4.
  • All accounts, which are linked to the given Customer ID would be appeared on screen.
  • Select account numbers by Shift + F4 one by one and Press F10 for commit
  • Account Freeze Set-up is over.

For Verification of Account Freeze Set-up:

  • Go to the menu option AFSM and enter.
  • Function: V (Verify) & Press F4
  • Then Enter Customer ID No. & Press F4
  • All details of freeze will appear. Now verify it and Press F10 for commit.
  • Account Freeze Set-up stands verified.
  • Now we will see the procedure of removal the freeze of account:

For Removal of Account Freeze:

  • Go to the menu option AFSM and enter. Then following screen will appear:
http://finaclecommands.com
  • Function: U (Unfreeze) & Press F4
  • Then Enter Customer ID No. & Press F4
  • All details of freeze will appear. Now Press F10 for commit.
  • Now Account stands Unfreeze.

For Verification of Removal of Account Freeze:

  • Go to the menu option AFSM and enter.
  • Function: V (Verify) & Press F4
  • Then Enter Customer ID No. & Press F4
  • All details of freeze will appear. Now Press F10 for commits
  • Now Unfreezing of Account stands verified.