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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☺️

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