Managing Instruments

Instrument Management allows you to manage cheques received for collection basis the action to be performed on the instruments. You can search for the cheques by using several search criteria. Pro­cessing date is defaulted to the current business date. You can also take an action on multiple records at once.

Navigation Path: Collections > Instrument Management

 

You can manage both current as well as post-dated cheques in order to take various actions on them.

-   Manage Current Dated Cheques

-   Manage Post Dated Cheques

 

Manage Current Dated Cheques

On the ‘Instrument Management’ screen, perform the following actions:

1.  In the Branch list, select the branch for which the cheque is to be managed. By default, branch of the logged-in user is selected.

2.  In the Cheque Date toggle, select the ‘Current’.

3.  In the Action list, select any one of the following:

-   Credit Advancement/Postponement

-   Generate Schedule

-   Mark Schedule Receipt

-   Mark Return Receipt

-   Mark Instrument Status

4.  Click Proceed to view the search parameters.

 

Credit Advancement/Postponement

This action of instrument management can be used in case the customer requests for an early credit or to postpone the credit of the instrument. The advancement can be used to prepone the instrument credit date and postponement can be used to postpone the instrument credit date. Only those instru­ment which are due for arrangement credit for Guaranteed Arrangement Corporate will be displayed in search result.

Perform the following steps to apply credit advancement/postponement on instruments:

1.  On clicking the Proceed, relevant cheque records are fetched under ‘List of Instruments’ section.

2.  Optional: Click the Filter icon () to filter the list of instruments.

 

Refer to the following table for specifying search parameters to filter list of instruments:

Note: Fields marked with ‘*’ are mandatory.

3.  Click Search to update the ‘List of Instruments’ section as per criteria.

 

4.  Select the instruments to be submitted for credit advancement/postponement.

5.  In the New Credit Date field, click the Calendar icon and select the date on which instrument should be credited.

6.  Optional: In the Remarks field, enter the remarks for the updated credit date.

7.  Click Apply to update the new credit date in the grid.

8.  If required, select the record and then click Undo to revert back the applied advancement/postpone­ment.

 

9.  Click Submit to confirm the records of credit advancement/postponement and send for authorization.

 

Generate Schedule

Bank user need to generate a forwarding schedule in case where clearing is to be routed through part­ner banks or for upcountry clearing a schedule is to be generated for the instruments. A forwarding schedule is essentially a covering letter, which comprises the details of the instruments dispatched to the concerned bank’s branch for clearing. This covering letter is sent along with the physical instru­ments.

Perform the following steps to generate schedule for instruments:

1.  On clicking the Proceed, the ‘Filter Parameters’ section is displayed.

 

Refer to the following table for specifying filter parameters to search the list of instruments:

Note: Fields marked with ‘*’ are mandatory.

2.  Click Search to view the result under ‘List of Instruments’ section.

 

3.  Select the instrument(s) for which the schedule needs to be generated and then click Next.

 

4.  Under Courier column, click the Search icon to select the courier company.

5.  Optional: Click the schedule reference number link to view more details about it.

6.  Select the schedule reference number and then click on Confirm to generate the schedule and send for authorization.

 

Mark Schedule Receipt

Receipt of a schedule is to be marked whenever a schedule is drawn on a branch of the system bank. This typically is a branch at an outstation location. The destination branch in such a case must mark receipt of schedule for further processing.

Perform the following steps to mark schedule receipt for instruments:

1.  On clicking the Proceed, the ‘Filter Parameters’ section is displayed.

 

Refer to the following table for specifying filter parameters to search the list of instruments:

Note: Fields marked with ‘*’ are mandatory.

2.  Click Search to view the list of instruments.

 

3.  Select the instruments for which schedule receipts needs to be marked.

4.  Click Confirm to mark the schedule receipt and send for authorization.

 

Mark Return Receipt

Return Receipt is marked for upcountry instruments returned by the collecting bank. It is marked by the branch, which dispatches the original schedule with upcountry instruments to a different bank when an upcountry instrument is returned by the destination bank’s branch. This constitutes to marking receipt of courier return and not actually marking the instrument as returned. The instrument can and must be marked as returned only after return receipt marking.

Perform the following steps to mark return receipt for instruments:

1.  On clicking the Proceed, the ‘Filter Parameters’ section is displayed.

 

Refer to the following table for specifying filter parameters to search the list of instruments:

Note: Fields marked with ‘*’ are mandatory.

2.  Click Search to view the list of instruments.

 

3.  Select the records for which the return receipt needs to be marked.

4.  Click Confirm to mark the return receipt and send for authorization.

 

Mark Instrument Status

Instrument Status is marked for an instrument as ‘Realized’, ‘Returned’, or ‘Hold’ when the payee bank gets the fate of the instrument from the drawee bank which was sent for clearing.

Perform the following steps to mark status of the instruments:

1.  On clicking the Proceed, the ‘Filter Parameters’ section is displayed.

 

Refer to the following table for specifying filter parameters to search the list of instruments:

Note: Fields marked with ‘*’ are mandatory.

2.  Click Search to view the list of instruments.

 

3.  Select the records for which the status needs to be updated.

4.  Perform any one of the below action to change the instrument status:

-   Click Mark Realized, if the instrument is cleared.

-   Click Mark Return, if the instrument is returned.

-   Click Mark Hold, to hold the instrument and in the Hold Until field, click the Calendar icon to select the date until which the instrument should be on-hold.

5.  Click Submit to update the instrument status and send for authorization.

 

Manage Post Dated Cheques

On the ‘Instrument Management’ screen, perform the following actions:

1.  In the Branch list, select the branch for which the cheque is to be managed. By default, branch of the logged-in user is selected.

2.  In the Cheque Date toggle, select the ‘Post Dated’.

3.  In the Action list, select the action to be taken on post-dated cheques.

4.  Click Proceed to view the search parameters.

 

Refer to the following table for specifying filter parameters to search the list of instruments:

Note: Fields marked with ‘*’ are mandatory.

5.  Click Search to view the search results.

Further procedure differs based on the selected action to be taken on the instrument. Click on the action name to get redirected to the relevant procedure:

-   Mark Extension

-   Mark Hold

-   Mark Unhold

-   Mark Misplaced

-   Mark Recovered

-   Mark Replacement & Withdrawal

 

Mark Extension

In case the Buyer/Drawer of the PDC does not have sufficient funds in debiting account, he may ask for an extension on certain PDC instrument to avoid cheque getting bounced. Only PDC instruments that are due for activation and not activated for presentation will be displayed in the search result.

Perform the following steps to mark extension for the instrument:

1.  In the search result, select the instruments to mark extension for. On selecting the records the ‘Total Instrument Amount’ and ‘Total Instrument Count’ will be displayed in the summary box.

2.  Optional: In the Instrument Number column, click the number to view more details about it.

 

3.  In the New Presentation Date field, click the Calendar icon and select the date on which the instru­ment should be presented.

4.  In the Remarks field, enter the remarks for new presentation date.

5.  Click Apply to update the grid with new details.

 

6.  If required, click Undo to revert back the applied changes.

7.  Select the updated records from the grid and then click Submit to send for authorization.

 

Mark Hold

This action can be used when customer wants the PDC's not to be presented in clearing and be held in custody of the bank until further Notice. Only PDC instruments that are due for activation and not acti­vated for presentation will be displayed in the search result.

Perform the following steps to mark the instrument on hold:

1.  In the search result, select the instruments to be marked. On selecting the records the ‘Total Instru­ment Amount’ and ‘Total Instrument Count’ will be displayed in the summary box.

2.  Optional: In the Instrument Number column, click the number to view more details about it.

 

3.  In the Hold Until Date field, click the Calendar icon and select the date upon which the instrument should be on hold. Keeping this date blank allows you to manually unhold the instrument whenever required.

4.  In the Remarks field, enter the remarks for keeping instrument on hold.

5.  Click Apply to update the grid with new details.

 

6.  If required, click Undo to revert back the applied changes.

7.  Select the updated records from the grid and then click Submit to send for authorization.

 

Mark Unhold

This action can be used to manually unhold the instrument that are currently on hold. Only PDC instru­ment that are on hold are displayed in the search result.

Perform the following steps to unhold the instrument:

1.  In the search result, select the instruments to be marked. On selecting the records the ‘Total Instru­ment Amount’ and ‘Total Instrument Count’ will be displayed in the summary box.

2.  Optional: In the Instrument Number column, click the number to view more details about it.

 

3.  In the Remarks field, enter the remarks to un-hold the instrument.

4.  Click Apply to update the grid with new details.

 

5.  If required, click Undo to revert back the applied changes.

6.  Select the updated records from the grid and then click Submit to send for authorization.

 

Mark Misplaced

This action can be used in case the PDC is misplaced by bank or pick vendor. If the instrument is not recovered till the instrument date, it gets auto-cancelled. Only PDC instruments that are due for activa­tion and not activated for presentation will be displayed in the search result.

Perform the following steps to mark the instrument as misplaced:

1.  In the search result, select the instruments to be marked. On selecting the records the ‘Total Instru­ment Amount’ and ‘Total Instrument Count’ will be displayed in the summary box.

2.  Optional: In the Instrument Number column, click the number to view more details about it.

 

3.  In the Remarks field, enter the remarks for marking instrument as misplaced.

4.  Click Apply to update the grid with new details.

 

5.  If required, click Undo to revert back the applied changes.

6.  Select the updated records from the grid and then click Submit to send for authorization.

 

Mark Recovered

This action can be used in case the PDC is misplaced by the bank/vendor is found before its instrument date. Only PDC instruments with the status ‘Misplaced’ and whose instrument date is not arrived will be displayed in the search result.

Perform the following steps to mark the instrument as recovered:

1.  In the search result, select the instruments to be marked. On selecting the records the ‘Total Instru­ment Amount’ and ‘Total Instrument Count’ will be displayed in the summary box.

2.  Optional: In the Instrument Number column, click the number to view more details about it.

 

3.  In the Remarks field, enter the remarks for new presentation date.

4.  Click Apply to update the grid with new details.

5.  If required, click Undo to revert back the applied changes.

6.  Select the updated records from the grid and then click Submit to send for authorization.

 

Mark Replacement & Withdrawal

This action can be used in below two scenarios:

 •   Replacement: When the buyer wants to provide fresh instruments in order to avoid the deteriorating physical condition of the provided cheques, which might have gone through wear and tear.

 •   Withdrawal: In case the buyer has provided PDCs for periodic payment of a loan and repays the entire loan amount before tenure ends. Hence, the PDCs of remaining tenure are required to be with­drawn from the system.

Only PDC instruments that are due for activation and not activated for presentation will reflect in the Mark Replacement screen

Perform the following steps to mark the instrument for replacement & withdrawal:

1.  In the search result, select the instruments to be marked. On selecting the records the ‘Total Instru­ment Amount’ and ‘Total Instrument Count’ will be displayed in the summary box.

2.  Optional: In the Instrument Number column, click the number to view more details about it.

 

3.  In the New Instrument Number field, enter the new instrument number to be replaced for the selected one.

4.  In the Remarks field, enter the remarks for new replacement and withdrawal.

5.  Click Apply to update the grid with new details.

 

6.  If required, click Undo to revert back the applied changes.

7.  Select the updated records from the grid and then click Submit to send for authorization.