ANNUAL INTEREST CALCULATION 2011-12 in V2 SBCO Software

New V2 SBCO Software for Interest Calculation will expected 31/03/2012 today evening



ANNUAL INTEREST CALCULATION 2011-12in V2 SBCO Software

        The Directorate had issued order to run the annual interest calculation  2009-10 in Sanchay Post  in view of the proposed implementation of CBS as given below vide SB Order No:17-2009 No:76-01/09-SB Dt: 08.12.2009. As referred above, under modified POSB Vol-1-  Rule: 73, it is mentioned that “73.(1)  Now all HPOs are working on SBLAN in system Software and the interest is calculated by the system software in computer. After completion of posting of transactions of 31^st March of a particular year (including all SOs of 31^st March LOTs), command for calculation of IBB, calculation interest and then interest posting should be given by the Postmaster [Supervisor]. Printout of Interest Statement in duplicate for HO and triplicate in case of SOs and MDGs should be taken. One copy of interest statement should be transferred to SBCO and second copy should be sent to SOs and MDGs. Third copy should be kept in guard file as office copy. SBCO should charge the total amount of interest in statistical Registers of April”.

 As no direction has been received from Directorate for calculation of  Annual Interest Calculation and release of Interest Statement  2011-12, the procedure adopted  in the year 2010-11 may be followed. As such SBCO working V2 SBCO may also calculate Annual Interest calculation in V2 software

 “As the maximum limit of Saving accounts has been removed the  maximum balance should be corrected  as “99999999” from 01.04.2011 to 30.11.2011 and also  from  01.12.2011 to 31.03.2012. Otherwise IBB will be limited to Rs.1 lakh and 2 lakh only"

            Hence, it is kindly requested to run the discrepancy option in Bridge Software to identify the discrepancies before running the Annual Interest calculation in V2 software. After running the Annual Interest calculation, once again run the discrepancy option to identify the interest corrections between the annual interest of V2 software & Sanchay Post  software.

            The difference if any in (Interest) V2 SBCO may be corrected through Interest Rectification Register and (Difference in Interest) Sanchay post corrected  through OM/ Maintaining separate register . After reconciliation of this process , one copy of Annual Interest Statement should be sent to the sub office for necessary action.  In the case of minus balances, if it could not be reconciled at your end, please raise objections for reconciliation.

 I reiterate the procedure for running interest statement 2011-12 in V2 SBCO for ready reference  to our SBCO staff

            PROCEDURE FOR SB/NSS/PPF ANNUAL INTEREST CALCULATION IN V2 SBCO SOFTWARE

1. Clear all the minus balances before running the IBB calculation
2. Raise objections for the remaining minus balances accounts for reconciliation with passbook.
3. Clear all the Un-posted items through the option .1. – Transaction – Modification – LOT – F6 option – Option .2. Account creation –enter the account number – enter the binder number instead of ‘UP’ binder
4. Enter the IBB for transfer-in accounts and Revival accounts thro option – Utilities –IBB entry

5.      Delete the duplicate account number through the ‘SBX’ software – Misc option –Delete duplicate number – Delete the second record one by one by using Ctrl + T key

RECONCILIATION: Before running annual interest statement, run the discrepancy once again to pair the balances of v2 sbco & Sanchay post balances.

1.      After tallying the SB63 office wise figure with V2 grand summary figure, do the backup in HDD and CD.

2.      Check up the financial year as 01.04.2011to 31.03.2012 in the option – Master Maintenance – System Admn – 3.HO Details

3.      Check up the Interest Rate –

i)                    SB/JA/JB/PEN –  01-04-2011 to 30.11.2011 =3.5% and

                                         01.12.2011 to 31.03.2012   = 4 %

ii)                  PPF – 01-04-2011 to 30.11.2011   =  8% and

                      01.12.2011 to 31.03.2012    = 8.6 %

iii)                 NSS87/92 – 7.5%

4.      No interest for the Public A/c, Security A/c , MVSD , TA  w.e.f. 01.01.2006

5.      Change the Financial year setup as given below , before running annual interest calculation for SB /PPF/NSS87 & 92 categories

CATEGORY	FROM DT	TODT	INTEREST	NO OF MONTHS	MIN BAL	MAXBAL
SA	01-04-2011	30-11-2011	3.5 %	8	20	99999999
	01-12-2011	31-03-2012	4 %	4	20	99999999
JA&JB	01.04.2011	30-11-2011	3.5 %	8	20	99999999
	01-12-2011	31-03-2012	4 %	4	20	99999999
TP	01-04-2011	30-11-2011	3.5 %	8	20	99999999
	01-12-2011	31-03-2012	4 %	4	20	99999999

REMARK: The interest period from date and to date for the previous financial year is to be deleted.

NOTE:  While checking 5% interest and comparing with Sanchay Post Interest , If IBB for any  period from 01.04.2011 to 30.09.2011 exceeded the limit of Rs.100000 for SA and for Rs.200000 for JA &JB ,necessary I.A. correction may be given.

CALCULATION OF INTEREST:

1.      Run the index service for all offices

2.      Run the update option for all offices

3.      Again, run the index services for all offices

4.      Run the IBB CALCULATION  - select the option Office wise / Yearly for all offices [To run Annual interest]

5.      Again, run the update option & Index services for all offices

6.      Run the service charges option – Report – Annual Report – 4.Service charges

a.      Before given ‘Yes’ i.e. deduction of service charges, take service charge print out, since after given ‘YES’, for the deduction of service charges, due to software problem, the service charges for some accounts are not displayed in the print option.

7.      Give “Yes” to deduct the service charge [The service charge will be automatically adjusted in the office wise Register SB63 on 31.03.2012 as With – Part II ]

8.      Again, run the update option & Index service for all offices     

    9.  Now, the Interest statement is ready to print

SERVICE CHARGE

1.      Separate service charge list for each office is not required, since the same is shown in Annual Interest Statement.

2.      Take a print of grand summary of service charge THREE COPIES – Report – Annual Report – 6.S.Charge [SB63] - [SBCO – SB BRANCH – ACCOUNTS to adjust under UCR]

RECONCILIATION: After running annual interest statement, run the discrepancy once again to pair the balances of V2 SBCO & Sanchay post balances

ANNUAL INTEREST STATEMENT / SILENT LIST PRINT OUT

1.      Take Interest statement    one  copy   and keep it with SBCO after comparing  with the interest  received from Sanchay post.

2.      Take “SBCO DIRECTORY’ backup in CD and sent to AO, ICO

UPGRADATION

1.      Before running this option, run the index service for all offices

2.      Check the Financial year as 01.04.2011 to 31.03.2012

3.      Run the Up-gradation option – Master maintenance – Up-gradation – select all Offices – give ‘yes’

4.      After Up-gradation, logout from the SBCO menu, again Login and run the index service before first operation

Thanks to
Mr. T.RETNASWAMY
CS, AISBCE Union
TN CIRCLE.