Taking of Fraud prevention measures-Debit Freeze to 0340 etc.

From: Director (CBS)
Sent: 24 August 2016 21:50
Subject: Taking of Fraud prevention measures-Debit Freeze to 0340 etc.

​Respected Sir/Madam,

In continuation of earlier fraud prevention measures taken vide SB Order 5/2016 along with its Addendum, the competent authority has decided to take the following further measures:-

·  Complete Debit Freeze to office account 0340. No withdrawal/debit transactions can be done from this office account;

·  wherever posting of accounts closed by BO are to be posted, the repayment account ID should be changed to office account 0339.

·  At the time of closure of any account, if payment is to be made by Postmaster Cheque, then repayment account ID should be entered as 0340 account.

·  Arrears/GPF or any payments to be made to serving employees with the approval of competent authority should be made from the Salary Account 0409 and not from 0340.

·  All other Government Subsidies should be done from the DBT Account 0410.

·  If customer has a Savings Account in CBS Post Office, Closure proceeds of all RD/TD/MIS/NSC/KVP/SCSS accounts, can be credited to customer's Savings Account by selecting 'Transfer' mode, but the Savings Account and any of the RD/TD/MIS/NSC/KVP/SCSS Account should be under same CIF or there should be a match between at least one of the CIFs if there is a joint account. In case of CIF Mismatch error, please first merge both  the CIFs after due verification if required and then proceed for closure. 

·  During account opening & account modification of RD / TD / MIS / NSC / KVP / SCSS accounts, before entering customer's Savings account as repayment account or Repayment of interest credit account, user has to ensure that only SB account which has the same CIF as the TDA type account can be linked. In case of error, both the CIFs of same depositor have to be first merged by doing due verification.

·  No Intersol withdrawal transaction of more than Rs.25,000/-  at the counter either through cash or transfer of through POSB Cheque (except for new investment) should be allowed. This validation is being placed in Finacle also.

Please circulate these changes/measures to all CBS Post Offices urgently.

With regards,

Sachin Kishore
Director (CBS)
Sansad Marg,
Dak Bhavan