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For initiating MIS & SCSS Claim Closure in Finacle, steps were explained in SB Order No. 29/2021 dtd 13-10-2021 & its Addendum dtd 28-10-2021. It is to inform that all SOLs commit repeatedly mistakes while performing MIS & SCSS Claim Closure in Finacle. Regarding this, lot of tickets were raised, which are pending for proper solution. In order to understand this in a comprehensive manner, I have given below guidelines along with illustration. Hence circulate this to all SOLs in your circles so as to avoid customer complaints. CPC is requested to put efforts and explain this to the SOLs which CPC come across.


Monthly Income Scheme (MIS) – Partial Closure (Claim)

Method for handling MIS Claim before its Maturity:

If MIS A/c is not yet matured and it is to be closed partially, following changes to be made in HINTTM:

a. Modify MISGN record with End Date as Date of Death (Start Date will be Account opening date).

b. Add SBRAT record with Start Date as ‘Date of Death’ + 1 (next date from date of death) and End Date should be 31-12-2099).

c. Verify the above change in HINTTM. After which, upon attempting trial closure, SB interest can be observed, if applicable.

During closure through HCAACTD, current BOD date is to be entered as Closure Value Date and excess deposit amount has to be entered instead of the entire principal amount. Closure reason code should be entered as NORML in Closure Exceptions tab. Before proceeding for this, the user will have to simulate account closure using Function: ‘L – Trail Close’. It is only after checking in HPR, the SOL user should proceed for account closure for partial amount. Once account is closed, SOL supervisor can verify account closure in HCAACVTD menu.

Once again, the user should Modify interest rate in HINTTM menu. Add MISGN record with Start Date as Account opening date and End Date as 31-12-2099, so that MIS int. will flow for the balance amt. in account.

Method for handling MIS Claim after its Maturity:

If the MIS account has already matured and the date of death falls before maturity, then there is no provision to change the rate of interest in HINTTM. In such case, interest is to be recovered (if any) and needs to be calculated by the concerned SOL/SBCO and HIARM entry is to be made by In-charge, SBCO after getting approval from Head Postmaster/Divisional Head, by entering Adjusted Amt.(calculate excess interest), select Debit/Credit Interest as 'D-Debit', Run Indicator as 'Credit' & Applicable From Date as 'BOD'. For deducting such excess interest credited, a single entry in HIARM would suffice. Trial closure must be performed so as to check whether ‘Adjusted Amount’ shown in the Closure result screen is in minus value, before proceeding with actual closure. During closure, Amount entered as IAR will get recovered from principal amount.

Senior Citizen Savings Scheme (SCSS) – Claim Closure

Steps for handling SCSS Claim before its Maturity:

If such SCSS A/c is not yet matured, following changes to be made in HINTTM:

a. Modify TDSCS record with End Date as Date of Death (Start Date will be Account opening date).

b. Add SBRAT record with Start Date as ‘Date of Death’ + 1 (next date from date of death) and End Date should be 31-12-2099).

c. Verify the above change in HINTTM. After which, upon attempting trial closure, SB interest can be observed, if applicable.

During closure through HCAACTD, current BOD date is to be entered as Closure Value Date. Then, interest till the date of death will be calculated @ SCSS rate and interest from next day till date of closure will be calculated @ SB rate. Before proceeding for this, the user will have to simulate account closure using Function: ‘L – Trail Close’. It is only after checking in HPR, the SOL user should proceed for account closure. Once account is closed, SOL supervisor can verify account closure in HCAACVTD menu.

Step for handling SCSS Claim after its Maturity:

If the SCSS account has already matured and the date of death falls before maturity, then there is no provision to change the rate of interest in HINTTM. In such case, interest is to be recovered (if any) and needs to be calculated by the concerned SOL/SBCO and HIARM entry is to be made by In-charge, SBCO after getting approval from Head Postmaster/Divisional Head, by entering Adjusted Amt.(calculate excess interest), select Debit/Credit Interest as 'D-Debit', Run Indicator as 'Credit' & Applicable From Date as 'BOD'. For deducting such excess interest credited, a single entry in HIARM would suffice. Trial closure must be performed so as to check whether ‘Adjusted Amount’ shown in the Closure result screen is in minus value, before proceeding with actual closure. During closure, Amount entered as IAR will get recovered from principal amount.

Note: For Joint SCSS A/c, Spouse can continue on satisfying two conditions: He/She should be atleast 60 years of age and they shouldn’t have SCSS A/c in their name either in Bank or Post Office.

Yours Faithfully,
Hariharan S
CEPT Chennai – 02

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