Acceptance of Cheque for depositing the previous year subscription to SSA/ PPF Account in view of withdrawn of Relaxation

Relaxation of POSB Scheme withdrawn from 01.08.2020

Attention required for acceptance of Cheque for SSA/PPF Deposit 

SOLs should stop accepting cheques for previous FY deposits in PPF / SSA accounts based on the number of days they usually require to get the cheques cleared and get clearance information from the HO. For example, if it takes four days, they should stop accepting cheques from 26/07/2020 itself. If any cheque clearance information is received after 31/07/2020, there is no provision in Finacle to do those transactions (previous FY deposit) as the configuration changes are not reversible. Requests for extension of PPF accounts matured on 31/03/2019 should also be accepted before 31/07/2020 and forwarded to CEPT team.