WITHDRAWALS AT GDS BRANCH OFFICES
(1). Procedure for withdrawal at Branch Offices
(i) A Branch Office is authorized to allow withdrawal of amount not exceeding Rs. 20,000/- without obtaining prior sanction of its account office subject to the condition that not more than one withdrawal is allowed on any day from any account.
(ii). A depositor whose account stands at a Branch Post Office desires to make withdrawal from Savings Account, the depositor has to submit withdrawal form (SB-7) along with passbook. The BPM should satisfy himself that the application of withdrawal has been 128 correctly filled in and the signature of the depositor on the application agrees with the specimen signature on record and sign below the signature of the depositor.
(iii) If the amount of withdrawal is up to Rs. 20,000/-, the amount specified should then be entered by the BPM in the passbook as a withdrawal, warrant of payment should be filled by him and the passbook and the warrant of payment should be impressed with the date stamp. BPM should make all the entries like amount of withdrawal, Date of Last Transaction and Date of Next Transaction etc in the BO Savings Bank Journal.
(iv). If the amount sought to be withdrawn exceeds Rs.20,000/-, the BPM will send the application for withdrawal together with the Passbook to the account office duly entered on the reverse of the branch office daily account. The BPM will issue the SB-28 receipt to the Depositor. The BPM after receipt of the sanctioned warrant will make payment to the Depositor within 7 days from the date of receipt of the sanctioned warrant at the Branch Post Office. The warrant of payment should be impressed with the BO date stamp. BPM should make all the entries like amount of withdrawal, Date of Last Transaction and Date of Next Transaction etc in the BO Savings Bank Journal. While handing over the passbook to the
depositor, depositor’s copy of the SB-28 receipt will be obtained by the BPM.
(2). On receiving the application and the Passbook, Counter PA at the Account Office will first check the status of the account in the FINACLE CBS application. The balance entered by the depositor in the application for withdrawal and given in the Passbook should be compared with the balance in the account and the signature of the depositor therein should be compared with specimen signature on record in CBS Application. The Counter Assistant should sign below the depositor’s signature in token of having tallied the signature.
(3). The account number, the amount sought to be withdrawn and the date of receipt of application for withdrawal for sanction should be entered in the register in form (SB-45). The warrant of payment should then be stamped by the Savings Bank Assistant and then transferred to the Postmaster together with the Passbook and the register (SB-45). The entry of withdrawal along with withdrawal form and passbook should then be placed before the
supervisor for validation who should sign the warrant of payment after satisfying himself by reference to the balance and signatures available in the FINACLE CBS System and the Passbook that the amount to be withdrawn is at the credit of the depositor and that necessary entries have been made in the register (SB-45). The Supervisor should also sign below the depositor’s signature in token of having verified the signature. The warrant of payment together with the Passbook should thereafter be made over to the sub account Assistant under receipt in the register (SB-45) who will forward the same to the branch office by first post entered in the branch office slip.
(4). Warrants of payment after withdrawals are made at branch offices will be received at the account office with entry of details of the transaction on the reverse of the daily account. The Savings Bank Assistant should: -
(i) Compare the signature on the warrant of payment with that on the application for withdrawal and the specimen signatures of the depositor available in the system.
(ii) Satisfy himself that the amount of the warrant of payment is charged against the item “SB Withdrawals” in the branch office daily account.
(iii) Make an entry of transaction in the relevant account in FINACLE CBS using Transfer option. Relevant BO settlement Office Account is to be credited.
(iv) Enter the date of withdrawal in the register (SB-45) in case of warrants above Rs.20,000/-.
(v) If the depositor is illiterate, it should be seen whether his/her thumb impression has been attested in the manner laid down in the rules. In case of withdrawals exceeding Rs.20,000/- entries in the warrant of payment should be checked with those already made in the register (SB-45) referred above. If any discrepancy is noticed or in case the signature of the depositor in the warrant of payment is found not tallied with that on the application for withdrawal, the matter should at once be reported to the Divisional Superintendent for necessary action.
(5). The warrant of payment should then be placed before the Supervisor along with the register (SB-45). The Supervisor should check the entries in the warrant of payment and in the computer and satisfy that it is in order. The Supervisor should also see that the date of payment has been properly entered in the register (SB-45).
Note: - If the entry of balance at credit of the depositor or the amount to be withdrawn is erased or altered in the application for withdrawal or if there are any other circumstances attending the withdrawal creating suspicion, the matter should be brought to the notice of the Postmaster. The warrant of payment for the amount stated in the application should, however, be forwarded in due course to the Control Organization.
(6). The sanctioned warrant of payment will be received lapsed from the branch office if the withdrawal is not made by the depositor within the prescribed period (7 days from the date of receipt of warrant at the Branch Office). The date of receipt of lapsed warrant should be scrutinized, noted in the register (SB-45) and the warrant of payment should be cancelled. The register with the cancelled warrant of payment should be put up to the Supervisor who should, after check, initial the entry and destroy the cancelled warrant himself. The Supervisor should review the register (SB-45) every week to see that the lapsed warrants of payment are returned promptly, and they are called for if overdue.
Procedure for Cash Deposits / Withdrawal at Branch Offices (RICT-CBS)
(i). Deposit/Withdrawal in SB Accounts and Subsequent deposits in RD & SSA account will be carried out by BPM through the RICT device.
(ii). For this purpose, BPM will follow the procedure prescribed for deposit and withdrawal in Branch Post Offices (Non-RICT) in respect of taking and scrutinizing the Pay-in-Slip or Withdrawal Form from the depositor as the case may be. BPM shall tally signature with the signature in the device or Specimen Signature Book. He/She will enter the amount, Date of Last Transaction and Date of Next Transaction etc. in relevant BO SB/RD/SSA Journals.
(iii). After completion of transaction in the device, Transaction ID should be noted on the right-hand side of the Pay-in-Slip or Withdrawal Form as the case may be.
(iv). BPM will print three copies of receipt (voucher) from the device. Original copy of receipt will be handed over to the customer. The first duplicate copy will be sent to AO with BO Daily Account (BODA) for each transaction and second duplicate copy will be kept at BO for record.
(v). BPM will make entries in Depositor’s passbook.
(vi). At Account Office, on receipt of BO vouchers, no entry should be made in Finacle.SPM/PA has to check on the daily basis the SB, RD & SSA Transactions made by each BO attached to the SOL with the ‘Long Book Detailed Report – SDP & AO’ generated using the menu HFINRPT.
(7). BO SB withdrawal above 20,000/- (High value withdrawal) - (At Account Office)
(i). The request for a withdrawal of amount more than Rs. 20,000/- can be initiated through device by BPM using High value withdrawal option. BPM will collect the duly filled-in Withdrawal form (SB-7) with depositor’s signature. BPM will verify the signature of the Depositor with the Specimen available and send the verified voucher along with Passbook to AO for approval.
(ii). Even though the high value withdrawal request will be visible to the SPM of AO on Finacle on the same day itself, the request would be approved by the AO only when the physical vouchers with signature of the Depositor duly verified by the BPM would be received from the BO along with Passbook.
(iii). BPM can execute the transaction and disburse the amount (subject to availability of cash) after receipt of voucher & passbook and from AO duly approved. BPM should follow the remaining procedure as mentioned for normal withdrawal.
(iv). On receipt of withdrawal Form and Passbook from BO for sanction of high value withdrawal, PA and Supervisor will go to HACLI menu and see balance in the account before approving the request. Signature of depositor should also be compared with the available signatures in Finacle and PA as well as Supervisor will also follow the procedure prescribed in the relevant rules and sanction will be sent to BO.
(v). When withdrawal form is received from BO after the payment, date of payment should be entered in SB-45 register as prescribed in the relevant rules.
