19. SAFE CUSTODY Section
Section Description
Page
19.01
Introduction
394
19.02
Major Activities Associated with Safe Custody
395
19.03
Create SDV / SC Account
395
19.04
Lodgement of SC
395
19.05
Withdrawal of SC
396
19.06
Correction Transaction
397
19.07
Fees
398
19.08
Dividend Warrant of SC
399
19.09
Enquiries
400
19.10
Account Maintenance
401
19.11
Closure of Account
401
19. SAFE CUSTODY (SC) 19.01. Introduction: SDV/ SC: The Safe Custody in CBS deals with two major functions viz.:
Safe Custody of articles/ scrips
Security Register/ Ledger and maintenance of Gold ornaments.
The Safe Custody in CBS handles:
Issue of Safe Custody Receipt to the customers
Printing of COS 49
Ex-custody Register functions
Types of Safe Custody: 1. Safe Custody of Articles/ Envelopes for regular customers 2. Safe Custody of Collateral like paper-based Securities given by customers as Collateral. It is implemented in 4 types of Collaterals: a. Gold Securities b. Shares Securities c. Paper-based Securities d. TDR Securities Safe Custody-Collateral is discussed under ‘Loans – Security’. In the Core Banking System, Safe Custody has been set up at the Bank level (parameterised) for these types, through a parameter ‘Safe Custody Flag’ (Screen 31155). Unlike Safe Deposit Vault, no branch level set up is required for Safe Custody. Whenever there is a Withdrawal, it is done under the same Receipt number. In case the number of units lodged is to be increased, a new Receipt number would be generated. A complete withdrawal can be performed by deleting that lodgement. To do this, select the Status as ‘Delete’.
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19.02. Major Activities associated with Safe Custody: 1. Creation of Safe Custody Account 2. Lodgement of Security 3. Withdrawal of Security 4. Lodgement by Bank 5. Lodgement Correction 6. Withdrawal Correction 7. Print Duplicate Receipt 19.03. Create SDV/ SC Account: Menu: SDV/ SC Account Opening SDV/ SC This opens the Screen \\SCR: 62000 CIF: Create Account. Field ‘Existing CIF/ Account No’: enter the CIF No. Field ‘System’: select ‘SDV: Create SDV/ SC Account’ from the Drop Down Box. Then click on ‘Transmit’. This returns the Screen \\SCR: 35200 ‘Create New Safe Deposit Account’. Field ‘Acct Type: select ‘2: Safe Custody’. Field ‘Sub Cat: select as appropriate: ‘0100’ for Normal SC and ‘0200’ for Collateral. Safe Custody-Collateral is discussed under ‘Loans – Security’. Field ‘Mode of Fee’: select the appropriate choice e.g., ‘1. Cash’ or ‘2. A/c Transfer’ or ‘3. SI’ from the Drop Down Box. Field ‘Rent Recovery Acct’: in case option ‘2. A/c Transfer’ has been selected in the Field ‘ Mode of Fee’ above, enter the relevant A/c No to which the SC Fees are to be debited, in this Field. Field ‘Number of years for which Fee is collected’ – not required for Safe Custody of Loan Collateral. Click on ‘Transmit’. The transaction is submitted for authorization. On authorization an Account Number is generated and displayed in the Dialog Box at the checker’s terminal. Note down the SC Account Number. 19.04. Lodgement of SC: Menu: SDV/ SC Lodgement/ Withdrawal of SC Screen \\SCR 035520 ‘SDV Withdrawal Lodgement Prompt’ appears. Field ‘Safe Custody Account No’: enter the SC Account Number.
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Field ‘Item Classification Code’: select the appropriate classification code from the Drop Dow Box, viz., LIC Policy/ SBI Deposits etc. Field ‘Purpose’: select ‘1. Lodgement’ from the Drop Down Box, which has the options like: ‘1. Lodgement’, ‘2. Withdrawal’, ‘3. Withdrawal by Bank’, ‘4. Lodgement by Bank’, ‘5. Lodgement Correction’, ‘6. Withdrawal Correction’, ‘7. Print Duplicate Receipt’. Field ‘Receipt No’: this Field is mandatory if you choose the ‘Purpose’ as anything other than ‘Lodgement’. Click on ‘Transmit’. This brings the Screen \\SCR 035530 ‘SDV-Lodgement into a Safe Custody Account/ Issue of Receipt’. Field ‘Account No’: the Safe Custody Account Number is already displayed. Field ‘Item Classification Code’: is picked up by the system from the details entered in the earlier Screen. Field ‘Item Narrative 1’: enter the description ‘Item has been lodged’. Field ‘Item Narrative 2’: Field ‘Item Narrative 3’: Note: Please enter the information in the Field ‘Item Narrative’ correctly, as the information entered in this field will be printed on the Receipt. Field ‘Notional Value per Item’: if the customer indicates the value of each item; enter those details here. Field ‘Fee bearing account’: enter the Deposit Account Number. account to which the Safe Custody charges will be Debited.
This is the
Field ‘No of items lodged’: enter the total number of items lodged. Fields ‘No of items Remaining’ and ‘No of items to be withdrawn’: these Fields are to be used at the time of Withdrawal. Click on ‘Transmit’. The transaction is submitted for authorization. On authorization, a Receipt Number will be displayed at the bottom of the Screen at the checker’s terminal. Note down the Receipt Number. The Receipt can be printed if a Printer is connected. 19.05. Withdrawal of SC: Menu: SDV/ SC Lodgement/ Withdrawal of SC. Screen \\SCR 035520 ‘SDV Withdrawal Lodgement Prompt’ appears. For Withdrawal, the Receipt number also has to be given, in addition to the SC Account Number. This is applicable for all transactions other than Lodgement.
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Field ‘Safe Custody Account No’: enter the Account Number. Field ‘Item Classification Code’: select the appropriate classification code from the Drop Dow Box, viz., LIC Policy/ SBI Deposits etc. Field ‘Purpose’: select ‘2. Withdrawal’ from the Drop Down Box. Field ‘Receipt No’ enter the Receipt Number. Click on ‘Transmit’. Screen \\SCR 035530: ‘SDV: Lodgement into a Safe Custody Account/ Issue of Receipt’ appears. Fill in the details as relevant for ‘Withdrawal’. Field ‘Item Narrative 1’: enter the description: e.g. ‘after withdrawal there are ‘n’ items remaining’. Note: It is important to enter the remaining items in the SC account in the Field ‘Item Narrative’ as this information will be printed on the Receipt. Field ‘Full Withdrawal’: in case all the items are being withdrawn by the customer, chose ‘Yes’ from the Drop Down Box. In case of partial withdrawal, select ‘N: No’ from the Drop Down Box. Field ‘No of items to be withdrawn’: indicate the number of items being withdrawn. Field ‘Maturity Date’: enter the Maturity Date of the Security Field ‘Rate’: enter the rate of the Security Click on ‘Transmit’. If any Fees are pending against this account, a Supervisory Override appears with the error message ‘Fees pending in this Account’. When this Transaction is transmitted, details after withdrawal with the same ‘Receipt No’ is generated. 19.06. Correction Transactions: Each Lodgement of Safe Custody is chargeable. Therefore, if an error is made while lodging Safe Custody (eg lodging the no. of items as 8, instead of 10), and remaining 2 items (10-8) are re-lodged , charges will be levied again, as the system treats this transaction as a fresh lodgement. To overcome this, Correction facility has been provided. Both Lodgement as well as Withdrawal can be corrected. However, Correction transactions have to be done immediately after the transaction, but before the financial transaction, ie., fees are collected. Menu: SDV/ SC Lodgement/ Withdrawal of SC. Screen \\SCR 035520 ‘SDV Withdrawal Lodgement Prompt’ appears.
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Field ‘Safe Custody Account No’: enter the SC Account Number. Field ‘Item Classification Code’: select the appropriate classification code from the Drop Dow Box, viz., LIC Policy/ SBI Deposits etc. Field ‘Purpose’: select ‘5. Lodgement Correction’ or ‘6. Withdrawal Correction’ from the Drop Down Box, depending on whether a Lodgement or Withdrawal transaction is being corrected. Field ‘Receipt No’ enter the Receipt Number. For Correction, the Receipt number also has to be given, in addition to the SC Account Number. This is applicable for all transactions other than Lodgement. Click on ‘Transmit’. Screen \\SCR 035530: ‘SDV: Lodgement into a Safe Custody Account/ Issue of Receipt’ appears. Fill in the relevant details under ‘For Correction’: Field ‘No of Fresh Lodgement’: give the correct number of items lodged. Field ‘No of Fresh Withdrawal’: give the correct number of items withdrawn. Field ‘Indemnity Received’: select ‘Yes/ No’ from the Drop Down Box. Field ‘Maturity Date’: enter the Date of Maturity of the Security. The Old Receipt will have to be taken back from the customer and a New Receipt has to be given. Remaining items to be Narrated (existing will be displayed). Click on ‘Transmit’. An OK Message will be generated along with the Receipt No. Withdrawal Correction: If 10 scrips have been withdrawn instead of 8, use Withdrawal Correction. Please note that if, instead of Correction, 2 scrips are lodged again, fees will be charged to the customer. 19.07. Fees: This transaction is for collection of SC Fees. Menu: SDV/ SC Financial Transaction Prompt. Screen \\SCR 035250 ‘SDV prompt for Fee’ appears. Field ‘SDV/ SC Account No’: enter the account number. Field ‘Mode of Pay’: select the appropriate choice eg., ‘1.Cash’ ‘2. Transfer’ ‘3. Transfer from Loan’ ‘4. Transfer from BGL’ from the Drop Down Box. Field ‘Charge Collection’: select the appropriate choice eg., ‘N: No’ from the Drop Down Box. 398
Field ‘Refund Txn’: select the appropriate choice eg., ‘N: No’ from the Drop Down Box. Select ‘Yes’ in case it is a Refund transaction. Click on ‘Transmit’. This opens the Screen \\SCR: 023010 G/L SDV: Cash Posting, if Cash Posting is selected as an option in Field ‘Mode of Pay’ above. Field ‘Account No’: displays the BGL Account Number in which commission amount will be credited. Field ‘Amount’: enter the amount of Fees being collected. Field ‘SDV/ SC Account No’: would be populated. Field ‘Statement Narrative’: mention appropriately, e.g., ‘SC Charges’. Click on ‘Transmit’. At EoD, Chg Calcln Program is run, if Current Date = Next Due Date. A Report is available on Request. The branch can initiate host report by giving the report ID SY0351 - SC ACCOUNTS FEE OVERDUE. Whenever a Customer account is accessed, Fee Dues are shown. 19.08. Dividend Warrant under SC: A customer can keep Dividend warrant in SC with the Branch and on due date the Branch has to encash the dividend warrant on behalf of the customer. Menu: SDV/ SC Dividend Warrant of SC. SCR 035080: SDV: Safe Custody Inventory appears. Field ‘Function’: Select ‘Create’ from the Drop Down Box. The other options are ‘A: Amend’ and ‘E: Enquire’. Field ‘Safe Custody Acct’: mention the SC Account No. Field ‘Sub Item’: select ‘1. Interest’ ‘2. Dividend Warrant’ Proceeds’ ‘4. Others’ from the Drop Down Box.
‘3.
1 week prior to next due date, a Report will be generated on the items to be sent for collection. This report is sent to all the branches after EoD. Report of next due date is sent on weekly basis. Field ‘Receipt No’: enter the SC Receipt No. Year (YYYY): enter the year, e.g. 2009. Month (MM): e.g. 11. Click on ‘Transmit’. The Screen SCR 035090 SDV: Safe Custody is displayed. Field ‘Next Due Date’: has to be entered manually. Click on ‘Transmit’.
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An ‘OK’ message is displayed. 19.09. Enquiries: 19.09.01. Fee Dues Enquiry: This transaction gives the SC Fees dues. Menu: SDV/ SC Enquiry of SDV/ SC SDV/ SC Fee Due Enquiry. Screen \\SCR 035720 ‘SDV/ SC Fee Dues Enquiry’ appears. Enter the Branch code. Click on ‘Search’. A table bearing the columns ‘Account Number’, ‘Total Maintenance Due’ and ‘Charges Due’ will be displayed. 19.09.02. SDV/ SC Account Enquiry: Menu: SDV/ SC Enquiry of SDV/ SC SDV/ SC Account Enquiry. The Screen SCR 035070 SDV: Safe Custody is displayed. A Field SDV/ SC Account Number is displayed at the top of the Screen. A Search facility is also available in this Screen. Field ‘SDV/ SC Account No’: enter the SC Account Number. Click on ‘Search’. By clicking on the ‘Search’ button, a user can get details about various lodgements on a particular account. This Screen displays the SC Account Item-wise details. The various Fields displayed are: ‘Item Code’, ‘No. of Items’, Receipt Number’, ‘No. of Items remaining’, ‘Last Operated Date’, ‘Next Due Date’ and ‘Statement Narrative’. Keep clicking on ‘More’ button to have complete details till the message ‘no more records to display’ appears. 19.09.03. Dividend Warrant Enquiry: Menu: SDV/ SC Enquiry of SDV/ SC Dividend Warrant Enquiry. The Screen SCR 035060 ‘Dividend Warrant Enquiry’ is displayed. Field ‘SC Account No’: enter the SC Account No, which is to be enquired. ‘Field ‘Receipt No’: enter the SC Receipt No. Click on ‘Search’. The Screen displays details about ‘Year’, ‘Issue Date’, ‘No of items’ and ‘Narration’. Use ‘More’ button to have complete records Report of next due date is sent once a week only.
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19.10 Account Maintenance: Menu: SDV/ SC SDV Account Maintenance. Screen \\SCR 035150 ‘SDV Prompt for Maintenance ’ appears. Field ‘Safe Deposit/ Safe Custody A/c No’: enter the SC Account Number. Field ‘Option’: select ‘1. Account Details’ from the Drop Down Box. Click on ‘Transmit’. Screen SCR 035100 SDV Account Maintenance is displayed. 19.11. Closure of Account: Before proceeding to close the safe custody account, you have to withdraw all the articles lodged under the SC account. Otherwise an error message no 5574 will be displayed. Menu: SDV/ SC SDV/ SC Account Closure. SCR 035360: SDV/ SC Account Closure is displayed.
Field ‘SDV/ SC Account No: enter the SC Account Number to be closed. Field ‘Third Party Closure’: select ‘Y: Yes’ or ‘N: No’, from the Drop Down Box, as required. Field ‘Narrative’: enter the narration. Click on ‘Transmit’. The SC account will be closed and a message will appear ************
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