Process for Opening Festival Advance Account in Finacle

Hello Friends, In our Banking industries all our colleague, not lose a chance to get the festival Advance/Loan because it is totally interest free and it take per financial year. No any other loan is as handsome as it and it more useful when it limits increase to Gross monthly income (nearest to thousands) without any ceiling limit. It full fill our desire to enjoy the Festival.
Here in this article we learn that the process of Festival Advance loan account opening in Finacle in a simple way -



Case Study

Gross Monthly Income : 45563
Principal Amount:          45,000/-
Loan Tenure:                  10 Month
Rate of Interest:              00.00% ( Interest free)
-
A/c opening Date : 06.09.2016



Now use the menu: HOAACLA



Step 1.



Cust ID: Write the Customer ID of Borrower
Scheme Code : LA671 ..then click on treesàSubmit

                                          àLA671-Staff Festival Adv-26601-Fest. Adv to StaffàSelect

                                              Then àAccept

(Note: Kindly note that all the Staff Loan started with "6" digits)

Step-2



General


Charge Level: Select from trees
Location Code: Select from trees as branch location
Mode of Operation: 001

è Validate

A/c Interest

No any change in this section , only validate

è Validate

Scheme


Loan Amount:– 45,000 (from above )
Loan Period:– 10
Credit file No. – write as per your branch
Review level:– select from trees
Review Authority: – select from tress as per your branch authority
Operative A/c ID:- Not necessary , you can write
Debt Acknowledgement:-  usually date of a/c opening i.e 06.09.2016  

è Validate

LA Interest


Just à Validate


Flow Parameters


No of installments: 10
Inst. start date : 30-09-2016 (current month last date, so inst. start from next month)
Int. start date : 30-09-2016
Inst Frequency - Monthly
Int Frequency - Monthly

è Validate

Flow Details

No need to any change , only validate this section

è Validate

MIS Code


Sector code: - 290.  Other Non Priority
Sub Sector Code: LS- Loan to Staff
Occupation Code: - Select from trees As per borrowers
Borrowers Category:- 15/14/16 ( for Clerk/officer/sub-staff)
Purpose of Advances:
Mode of Adv: DA
Types of Adv: SL
Nature of Adv: FSEC
Gurantee cover code: NA
Industry type: NA
Free Code 3: TF

è Validate

Account limit


Sanction Date:-06.09.2016
Expiry Date- 06.09.2017
Document Date: 06.09.2016
Sanction level: select from trees as per sanction letter
Sanction Authority: Select from trees as per sanction letter
Limit refence no:  writer as per sanction letter
Drawing Power: E-Equal

è Validate

Document


Document Code: DPNTL
Received Date: 06.09.2016
Expiry Date:06.09.2019

è Submit

Write the temporary a/c number and forward for final verification.


Now we complete the all process and hope it will be helpful to you all while opening a Festival Advance loan account. I welcome your comment if you want to share with me.


Thanks…!!!

                        

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Process of Opening Car Loan in Finacle

Hi Friend, Today we learn about the process of Car Loan account opening in Finacle. We learn all the step in a simple way-

First of all we considered the following case study after sanction that help us to complete the process:-



Case Study

Principal Amount:   2,50,000/-
Loan Tenure:           84 Month
Rate of Interest:      10.65%
EMI:                       4235/-
A/c opening Date : 06.09.2016



Now use the menu: HOAACLA



Step 1.



Cust ID: Write the Customer ID of Borrower
Scheme Code : LA101 ..then click on treesàSubmit

                                          àLA101-car loan EI-24501-TLàSelect

                                              Then àAccept



Step-2



General


Charge Level: Select from trees
Location Code: Select from trees as branch location
Mode of Operation: 001

è Validate

A/c Interest


A/c Pref. Int.(Dr) – 1
  ( Note: This is diff. between ROI and MCLR of 1 year i.e 10.65 - 9.65 = 1)

Int. Rate Code: - LMCL5 ( this is for 1 year)
A/c. Pegged:- Yes
Pegging Review Date: 06.09.2017
    ( Note: One year from date of a/c opening i.e if a/c open on 06.09.2016 then Pegging Review date is 06.09.2017)
Pegging Freq. – 12

è Validate

Scheme


Loan Amount:– 2,50,000 (from above )
Loan Period:– 84
Credit file No. – write as per your branch
Review level:– select from trees
Review Authority: – select from tress as per your branch authority
Operative A/c ID:- Saving a/c of borrower for deduction of EMI
Debt Acknowledgement:-  usually date of a/c opening i.e 06.09.2016  

è Validate

LA Interest


Just à Validate


Flow Parameters


No of installments: 84
( Note- Don’t change in any other field, all other field already filled as per scheme)

è Validate

Flow Details


(Note – in this section we can see the calculated EMI, it should be match with above i.e 4235/-
And also obtained the Amortization Schedule i.e EMI chart.)

è Validate

Miscellaneous


Sector code: - 290.  Other Non Priority
Sub Sector Code: Select from trees As per borrowers
Occupation Code: - Select from trees As per borrowers
Borrowers Category:- Select from trees As per borrowers
Purpose of Advances: 09302 @vehicle four wheeler
Mode of Adv: DA
Types of Adv: TL
Nature of Adv:
Gurantee cover code: NA
Industry type: NA
Free Code 3: TF

è Validate

Account limit


Sanction Date:-06.09.2016
Expiry Date- 06.09.2023
Document Date: 06.09.2016
Review Date: 0.09.2017
Sanction level: select from trees as per sanction letter
Sanction Authority: Select from trees as per sanction letter
Limit refence no:  writer as per sanction letter
Drawing Power: E-Equal

è Validate

Document


Document Code: DPNTL
Received Date: 06.09.2016
Expiry Date:06.09.2019

è Submit

Write the temporary a/c number and forward for final verification.


Now we complete the all process and hope it will be helpful to you all while opening a car loan account. I welcome your comment if you want to share with me.


Thanks…!!!

                        

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Answer Key of CAIIB-BFM-Correspondent Banking and NRI Account

Now I am providing you the Answer Key of CAIIB-BFM-Correspondent Banking and NRI Account. You can leave a massage and also comment on these Question -Answer so we provide you a better discussion platform that can help you to crack the CAIIB.

Answer Key CAIIB-BFM-Correspondent Banking & NRI Account

Q1 – A. NOSTRO account

Q2 – C. LORO account

Q3 – B. VOSTRO account

Q4 – C. Correspondent Banking

Q5 – B. USA

Q6 – B. CHIPS

Q7 – B. Federal Reserve Bank in US

Q8 – C. Term deposit account for a fixed period of 1 year to 5 years.

Q9 – D. A person who is not resident

Q10 – B. Small saving scheme and Public Provident Fund

Thanks...!!!

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CAIIB-BFM-Correspondent Banking & NRI Accounts

Q1. Account of a domestic bank abroad (say, of SBI outside India) is called:

A.      NOSTRO account

B.      VOSTRO account

C.      LORO account

D.      MIRROR account

Q2. “His Account with us” is called:

A.      NOSTRO account

B.      VOSTRO account

C.      LORO account

D.      MIRROR account

Q3. “Your account with us” is called:

A.      NOSTRO account

B.      VOSTRO account

C.      LORO account

D.      MIRROR account

Q4. Relationship between two banks which have mutual accounts with each other, or one of them having account with the other is called:

A.      NRI Banking

B.      Relationship Banking

C.      Correspondent Banking

D.      Universal Banking

Q5. CHIPS (Clearing House Inter-bank Payment System) is a major payment system in:

A.      Europe

B.      USA

C.      UK

D.      Singapore

Q6. UID numbers are used to identify the beneficiary account, by which of following payment systems:

A.      SWIFT

B.      CHIPS

C.      CHAPS

D.      FEDWIRE

Q7. The FEDWIRE payment system is operated by:

A.      Bank of England in UK

B.      Federal Reserve Bank in US

C.      European Central Bank in Europe

D.      Reserve Bank of Australia in Australia

Q8. Foreign Currency Non-Resident (Bank) FCNR (B) can be opened as

A.      Saving bank or Current account

B.      Recurring deposit account for a fixed period of 1 year to 5 years.

C.      Term deposit account for a fixed period of 1 year to 5 years.

D.      Term deposit account for a fixed period of 1 year to 3 years.

Q9. Who is a non-resident as per provision of FEMA 1999 :

A.      A person who has gone abroad for a tour.

B.      A person who is staying abroad for more than 180 days in a year.

C.      A person who is staying abroad.

D.      A person who is not resident

Q10. NRI can not make investment in which of the following:

A.      Govt. Securities

B.      Small saving scheme and Public Provident Fund

C.      Treasury bills

D.      Units of Mutual Funds

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Process for Modification in Aadhaar seeding

When we update the Aadhar number in Finacle, sometime it show error " Either Aadhar number or Customer ID is already mapped" & we are not able to update the given AADHAAR to the desire Account number ( i.e Pensioner, Student, Gas connection etc.) because they already mapped with AADHAAR number with other Account number .

In that situation, we can solve these problem with following steps:-

First of all we open the Menu - HAPBSLN-

 

then Enter

Select Option - MODIFY

Then
Select Account/AADHAAR -  AADHAAR
AADHAAR Number -.....  Write AADHAAR Number--
 then ACCEPT

Now we have three option in Modify
1. AADHAAR
2. Customer
3. Deletion
If you want to modify Customer , then select - Customer

Now erase the previous & write the new customer ID in which we want to add AADHAAR number . If the customer ID is same ( i.e. Only one ) the fetch the Account number tree. & select the fetch Account number.

After selecting the account , following screen will be appears.

After that click on Submit/Accept

Now Record Modify Successfully, wait for verification .....

I think it will help you to update the AADHAAR seeding where the error show "Either AADHAAR number or Customer ID is already mapped"

Thanks

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