NON USAGE OF CHEQUE CLEARING MODULE IN DOP FINACLE

I am directed by competent authority to convey the following

It is seen that many POs are not using Cheque Clearing Module in Finacle for Lodging cheques for opening of new account, subsequent deposits. Instead they are debiting office accounts directly using CXFER menu which is incorrect. Certain Hos are using HTTUM for Inward clearing instead of Cheque Clearing Module.

Please find below the extract of SB ORDER 5/2016

It is reiterated that Cheques should be lodged only in Head Office into the relevant office accounts specified for New Account Opening and Subsequent Deposits. Office account 0007 should not be used for cheque clearing process.

It is also seen that few POs are transferring amount from office account 0382 to BO settlement account which is incorrect. CPCs/EOD Team may kindly be consulted for resolving issues if any faced during EOD wrt to cheque clearing. Few POs are debiting directly from POSB account manually without following the cheque rejection process.

POs are requested to follow the cheque clearing process scrupulously and ensure that validation reports are run invariably. Any discrepancies noticed in validation run to be cleared before Suspension of zone.

Please do not hesitate to revert in case of any issues.

In continuation of trail, the following points are also brought to your notice

1. By using HTTUM in place of clearing process,  cheques of  SB account  will not be updated as "PASSED" and remained as "UNUSED".  Users using the same cheque number fraudulently again and again. 

2. Multiple validations which are built in zone validation report, will be skipped , if HTTUM is used. This will also lead frauds

3.  In some offices,  cheques  lodged in outward zone, are regularised ( Posted and made as Effective balance) and then trying for rejection.  Before regularising the outward zone,  cheques  which are REJECTED BY CLEARING HOUSE, should  be rejected first by selecting "outward" in Field "Reject" in HMICZ menu and close the Inward zone meant for outward rejects. Then only outward zone , should be regularised ( Regularise the shadow balance). 

4. Rejection of outward cheques , should only be done after releasing to shadow balance

Chronicle order of  Outward zone

1. Opening Outward zone in HMCLZOH

2. Lodging the other bank cheques in HOCTM

    Use  either SB account or 0017 of HO for PPF/SSA/RD subsequest deposits  or 0382 of respective SO  for opening of account

3. Suspend the zone in HMCLZOH

4.  Verifying the cheques in HOCTV ( Bulk) / HOCTM

5.  Sending the cheques to clearing house

On receipt of clearing cheque details from clearing house

6. Release the zone to shadow balance in HMCLZOH

    By doing so, amount will be posted to respective accounts and lies in FUNDS IN CLEARING

    Effective balace for withdrawal = Balance available - FUNDS IN CLARING

   Check HPR for reports

In case of Outward cheques are rejected by other banks through clearing house

7. Open  Inward zone meant for Outward rejects  in  HMICZ

8. Lodge the cheques in HICTM and select "Outward" in REJECT Field

9. Enter the outward rejection details in explode button available ( can be seen after REJECT field)

10. Verify the cheques lodhed in HICTM

11. Run validation report in HMICZ

12. Wait for 2 minumtes and check in HPR for validation report

13. Based on discrepance found , use HICTM to modify the cheques or delete the cheques and very the cheques

14. After clearing validation, rerun validation report in HMICZ and check in HPR , to make sure that no validations are pending

15.  Suspend the zone in HMICZ ( At the time of suspending zone, one can see COMPLETE againt validation status field if validations are cleared)

16.  Post the zone in HMICZ  and check reports in HPR

17. Close the zone in HMICZ and check the reports in HPR

18. After closing the Inward zone meant for outward rejects, Regularise the shadow balance in HMCLZOH. By doing so, funds in clearing , will be moved to effective balance. Check HPR for reports

Thanks and Regards

Gopinath S

Inspector Posts

DMCC

Chennai 600 002

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