Dear Sir/Madam,
I am directed by competent authority to convey the following
This is regarding new menu HACLHM for modification of incorrect RD Loan amount.
Scenario
1.
RD Loan account is opened
with incorrect sanction amount. Loan also disbursed and RD loan account
closed immediately due to incorrect amount. Several instances /tickets
have been raised after closing RD Loan account
2.
Opening of 2nd loan account is not permitted in RD rules and system does not allow the same.
3.
Currently no option to modify Sanction amount once disbursed.
A new patch for modification of RD Loan sanction limit has been deployed. New Menu
HACLHM is available for CPA and SU
Steps for modification of RD Loan amount
1.
Modify the amount in loan
sanction limit, user to invoke “M” – Modify mode by indicating the
Account number using the said menu and the sanction limit can be
modified as required and permitted under Rules.
Please do not USE DELETE OPTION in HACLHM
2.
Verification of modified sanction limit to be done by Supervisor thru HACLHM menu.
3.
Loan disbursement with the modified amount can be made through LARDD menu.
4.
Sanction limit can be modified only if the previous loan DISBURSEMENT is reversed. An error “W0205 - Reverse the previous disbursement
before modification” will be thrown if the amount is modified without reversing the LOAN DISBURSED amount.
5.
If
sanction limit is modified with amount > 50% of RD account balance.
Then during disbursement, the below error will be thrown.
IMPORTANT
1. Modification of loan amount is not possible if the
RD Loan account is CLOSED . Hence PO users are requested not to
close the RD Loan account if opened with Loan account is opened with
incorrect santion amount.
It is again
reiterated that the modification of sanction limit and disbursing the
revised amount will work only when the loan account is not closed.
Solution for already
closed accounts will be only through DATA CORRECTION PATCH. Hence SOLs
may please be instructed not to CLOSE THE RD LOAN account and to use
this MENU for modifying the RD LOAN amount if required.
This may please be circulated to POs immediately.
Thanks and Regards
Gopinath S
Inspector Posts
DMCC
Chennai 600 002