1. Monthly Income Scheme

2. Monthly Income Scheme (MIS) Table of Contents Introduction Slide 2  Introduction  Business Scenario  Finacle Process Overview  Step by Step Process  Demonstration  Summary

3. Monthly Income Scheme (MIS) Slide 3 Introduction Lesson Objective Duration Intended Audience To understand the process of opening, funding, passbook printing, modifying and closing a Monthly Income Scheme (MIS) account 2 Hours Customer Service

4. Monthly Income Scheme (MIS) Slide 4 Business Scenario You are a customer care representative. A person walks into your branch to open a MIS account. You will need to check that he/she already has a MIS account and the total deposited amount does not exceed the limit defined at the scheme. You will open the account then. Let us see the generic process in detail for opening an MIS account in Finacle.

5. Monthly Income Scheme (MIS) Slide 5 Finacle Process Overview The approach for opening, funding, passbook printing, modifying and closing an MIS account : MIS account can be held by individual or joint holders, not exceeding three people. Conversion of the account from a single account to a joint account and vice versa is allowed. The maximum deposit amount is restricted to Rs. 450000 for a single Account and Rs. 900000 for a joint account. Certificate is issued to the customer on account opening. Passbook is issued to the customer on opening the account. There is a provision to mark a lien and to freeze the account.

6. Monthly Income Scheme (MIS) Slide 6 Finacle Process Overview (Contd…) Premature closure of the account is allowed but some percentage of principal is deducted as a penalty. Interest is credited at a monthly or quarterly frequency to customer’s saving bank account, paid either through office cheque or in cash. Nomination facility is allowed. You can modify the nominee if required and can also add multiple nominees. However, a minor account cannot have a nominee. A Letter of Thanks is generated for the customer on opening of account.

7. Monthly Income Scheme (MIS) Slide 7 Step by Step Process Given below is the step involved in opening, funding, passbook printing, modifying and closing an MIS account in Finacle: Invoke the menu option CLIMIT to know the holding amount of a MIS account holder. Invoke the menu CMISAOP to open an account. Enter the CIF ID and click Go. Enter the General Details and Flow Details and click Submit. The system adds the record to the database and generates a registration number. The account needs verification by another user using the menu option CMISAOP. For closure/ pre-closure of the account, you can invoke the menu option HCAACTD.

8. Monthly Income Scheme (MIS) Slide 8 Demonstration

9. Monthly Income Scheme (MIS) Slide 9 Congratulations!! You have successfully completed the lesson on Monthly Income Scheme account in Finacle. Following are the summary of important points discussed in this lesson: After inquiring about a customer’s balance holding, you can open MIS account using the menu option CMISAOP. The opened account must be verified using the menu option CMISAOPV. Use the menu CMISAOPM to modify an account before verification. Use the menu CMISAM after verification. You can fund an account by cash using the menu option CTM or through transfer using the menu option HXFER. You can inquire about the ledger balance for an account using the menu option HACLI. An MIS account can be closed using the menu option HCAACTD and verified using HCAACVTD. Summary

10. Monthly Income Scheme (MIS) Slide 10 Any Questions?