ACCEPTANCE OF CHEQUE FOR OPENING OF ACCOUNTS AND SUBSEQUENT DEPOSITS
(A). Operating procedure for Branch Post Offices
(1). GDS Branch Postmaster can accept any bank cheque for opening of new account under SSA, TD and RD schemes and subsequent deposits in SSA, RD and Savings Accounts.
(2). Only Account Payee cheque is to be accepted.
(3) Cheque is to be drawn in favour of concerned Postmaster of Head Post Office. GDS Branch Postmaster will ensure the following: -
a) For opening of account: - Endorsement on the backside of such cheque shall be made as
“For opening of ......... (name of scheme) account in the name of .............................. (name of proposed depositor) (Signature of depositor)”
b) For subsequent deposit (SB/RD/SSA/PPF): - Depositor will enter details of cheque in pay-in-slip and endorsement on the backside of such cheque shall be made as “For credit in the Account No ..................... in the name of .................. (Signature of depositor)”
(4). In case cheque is drawn in favour of depositor, GDS Branch Postmaster will ensure the following: -
c) For opening of account: - Endorsement in favour of Postmaster of HO on the backside of such cheque shall be made as “Pay to Postmaster..................... P.O for opening of.................. (name of scheme) account in the name of............... (name of proposed depositor) (Signature of depositor)”
d) For subsequent deposit (SB/RD/SSA/PPF): - Depositor will enter details of cheque in pay-in-slip and write the account number on the reverse of the cheque duly signed.
(5). There should be no correction in the cheque. Account Office will reject the cheque in case of corrections/overwriting is found on cheque.
(6). Branch Postmaster will check the following before accepting a cheque: -
(a). It is not a post-dated cheque.
(b). Date of issue of cheque is not more than 3 months old.
(c). Amount in words and figures should match.
(7) Preliminary Receipt, SB-26 is to be issued for the cheque collected by the GDS Branch Postmaster mentioning the Bank name, cheque number, date of issue of cheque and amount.
(8) GDS Branch Post Office will not do any transaction for new account/subsequent deposit related to the cheque received in BO and sent for clearance to the Account Office, including those working on RICT device.
(9). GDS Branch Postmaster will maintain a manual cheque register for registering list of cheques received for new account opening/subsequent deposit.
1. Receipt No. of SB-26
2. Date of receipt of cheque
3. Name of Savings Scheme
4. Name of Depositor
5. Cheque Amount in Rs.
6. Cheque Details (Bank name, date of cheque, Cheque No)
7. Date on which cheque sent to Account Office
8. New Account Number (after receipt from Account Office) /Balance After Transaction
9. Date of receipt of Pass Book from Account office
10. Signature of Depositor after receipt of passbook at the time of handing over of passbook
(10). GDS Branch Postmaster will forward the cheque along with new account opening form, Pay-in-Slip, KYC form /documents (if customer not given previously in Post Office) and cheque to Account Office duly entered in BO Journal and BO Daily Account on cheque receipt date in BO Account Bag.
(11). GDS Branch Postmaster will forward the SB/SSA/RD cheques and Pay-in-slips for subsequent deposits along with Passbook to Account office duly entered in BO Journal and in BO Daily account on cheque receipt date in BO Account Bag.
(12). On receipt of passbook from Account Office, GDS Branch Post office adopts procedure given below: -
e) Update the new account number /balance after transaction in the manual cheque register.
f) Depositor’s copy of SB-26 should be taken back and paste with office copy.
g) Depositor’s signature on manual cheque register should be obtained.
(13). Manual cheque register maintained in GDS Branch Post Office should also be checked and verified by Inspecting/Visiting Officers during inspection/visit.
(B). Procedure at Account Office (Sub Office/Head Office)
(1). Account Office (SO/HO) will check whether the physical cheque along with SB- AOF/Pay-in slip/passbook is received w.r.t. to entries in BO Daily Account.
(2). Account office (SO/HO) will maintain manual cheque register in the following format.
1, Sl. No
2, Name of BO
3, Date of receipt of cheque from BO
4. Name of Savings Scheme
5. Name of Depositor
6. Cheque Amount in Rs.
7. Cheque Details (Bank name, date of cheque, Cheque No)
8. Cheque Clearing date
9. Date of Posting / Credit into Account
10.New Account No.
11.Date on which passbook sent to BO
12.Signature of PA / Supervisor
(3). Account Office will send all cheques received from GDS Branch Post Offices along with cheques received in SO to respective HO for clearing by entering all cheques in Manual List.
(4). Head Post Office will receive cheques and adopt procedure prescribed given as under:
a) Compare cheque with manual list.
b) Ensure that cheque received is in order in all respect.
c) Lodge these cheques along with cheques received in SO in Outward Clearing Zone.
d) Cheque for new account opening/RD deposit will be lodged in respective SOs SOL ID+ 0382 office account and for SSA deposit to be lodged in HO SOL ID + 382 office account.
e) Cheque for deposit in PO Savings Account to be lodged in respective PO Savings Account.
f) After receiving clearance from clearing house/Bank/Grid, post outward clearing zone.
g) After receiving clearance, post Subsequent deposit for SSA by debiting HO SOL ID+0382 office account.
(5). Account Office should check their clearing office account (SOL ID+0382) on daily basis to see clearance received from HO and on the date of posting in office account, adopt the procedure given as under: -
a) Open new account and link BO ID with value date as clearing date and fund the account by debiting SOL ID+0382 office account.
b) Subsequent deposits for RD are to be posted with value date as cheque clearing date by debiting SOL ID+0382 office account.
(6). Account Office (SO/HO) will mention the cheque clearing date and date on which posting/credit done in account after clearance in manual cheque register to ensure that all cheques sent for clearing are processed and accounted for.
(7). Amount of clearance of cheques lodged against SO clearing accounts will be automatically reflected under RSAO Grid Clearance Remittance (Cr) after clearing. After new account opening /subsequent deposits, it will be reflected as RSAO Grid Clearance Remittance (Dr) and deposit against respective scheme in daily account.
(8). Account Office (SO/HO) will ensure that the BO cheque clearing amount is reflected in CSI daily account on day of accounting.
(9). Passbook will be printed at Account Office (HO/SO) on day of account opening/subsequent deposits and update entries in manual cheque register.
(10). Account Office (HO/SO) will send passbook to respective BOs duly entered in BO Slip on same day of new account open/subsequent deposit in BO account bag.
(11). Account office (HO/SO) to ensure that BO ID is linked on DAY OF ACCOUNT OPENING without fail.
(12). Supervisor will verify the new account opened with passbook and subsequent deposit entries made in passbook with manual cheque register and Finacle.
(13). Manual cheque register maintained in Account Office (HO/SO) should also be checked and verified by Inspecting/Visiting Officers during inspection/visit.
Note: - Non- CBS offices will follow the procedure prescribed in POSB Manual Volume I Rule 8, Rule 9 & Rule 10 of Appendix I and after clearance of cheque open account/deposit in Sanchaya Post then print/prepare/update passbook and sent to BO by entering in BO slip in BO Account Bag.
