Usage of HIARM Menu of Finacle CBS and amendments to procedural rule in POSB (CBS) Manual: SB Order No. 03/2024

Usage of HIARM Menu of Finacle CBS and amendments to procedural rule in POSB (CBS) Manual: Department of Posts SB Order No. 03/2024 dated 14.05.2024

SB Order No. 03/2024

File No. FS-10/8/2022-FS-DOP
Government of India
Ministry of Communications
Department of Posts
(F.S. Division)

Dak Bhawan, New Delhi — 110001
Dated: 14.05.2024

To
All Head of Circles / Regions

Subject: Usage of HIARM Menu of Finacle CBS and amendments to procedural rule in POSB (CBS) Manual — Regarding.

Madam/Sir,

HIARM is a menu in Finacle CBS, prescribed for Interest Adjustment. Any adjustment made in any POSB account is accounted under the Account Head pertaining to the Interest. It has been observed that the said menu is being used to adjust the balance differences and restoration of defrauded amount including principal and interest, in accordance with the procedure prescribed in POSB CBS Manual (Corrected up to 31.12.2021). This leads to the incorrect accounting of the adjustment related to principal amount in interest account head.

2. In order to eliminate the discrepancy in the accounting, competent authority has decided that HIARM should strictly be used for adjustment of interest amount only.

3. In case of any correction with respect to the balance in the account related to the principal amount, action may be taken by the Circles to get the same corrected relaxing the back value date parameter. The procedure as prescribed in the Lr. No. 116-53/2018-SB dated 16.03.2021 shall be followed for relaxation of the back-value date parameter (Copy attached for reference).

4. Accordingly, the procedures/ guidelines prescribed in POSB (CBS) Manual (Corrected up to 31.12.2021) are amended as Annexure-l.

5. This may be circulated to all the offices for information and necessary actions. Circles may instruct their supervisory staff to monitor and get these instructions complied strictly to avoid grievance of the customers.

6. This issues with the approval of competent authority.

Yours faithfully,

(Devender Kumar Sharma)
Assistant Director (SB-II)