RD MANUAL EXTENSION( PRDCM menu) procedure in DOP Finacle

I am directed by competent authority to convey the following

RD accounts gets extended automatically for 60 months (ie another 5 years) if 60 instalments are paid  on date of maturity during EOD batch jobs. Till the account is extended, monthly deposits for extended period cannot be paid.

We are getting complaints from Circles and through Agents association that due to extension on date of maturity, monthly instalments could not paid which results in loss of rebate.

It is learnt that manual extension option is not being used for extension.

SOLUTION

In case customer wishes to pay the extended monthly deposits after completion of 60 instalments before maturity date, RD ACCOUNTS CAN BE EXTENDED MANUALLY using menuPRDCM.

If all the 60 installments are paid and if the account is in the last month (ie maturity month) PRDCM can be used for extending.

Eg:

RD account open date                                   – 15/05/2010

Maturity date                                                    - 15/05/2015

60 months elapses on                                    - 15/04/2015

This account will get extended automatically on 15/05/2015 through batch job.

Manual extension using PRDCM can be done after 15/04/2015 and the customer can pay 61^st instalment even before maturity date ie 15/05/2015.

This menu is accessible for CPA, SUPERVISOR

This may please be circulated to Post offices.

Please revert in case of any issues/errors in accessing this menu.

Thanks and Regards

Gopinath S

Inspector Posts

DMCC

Chennai 600 002

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