1. Loan Service User Guide
  2. Accounts
  3. Loan Disbursement
  4. Settling Disbursement by Instrument

2.5.7 Settling Disbursement by Instrument

You can pay the disbursement amount using an instrument.

To pay disbursement by instrument:

  1. Navigate to the screen and fetch the account. For more information, refer Navigating and Fetching Account.
  2. From the Loan Disbursement Initiation tab, click Next.
    The Schedule tab is displayed.
  3. From the Schedule tab, click Next.
    The Disbursement Payout tab is displayed.
  4. From the Pay Through field, select the Instrument option.
    The fields related to Instrument are displayed.

    Figure 2-43 Instrument

    Description of Figure 2-43 follows
    Description of "Figure 2-43 Instrument"
  5. You can perform disbursement by instrument as required. For more information on fields, refer to field description table below:

    Table 2-27 Instrument – Field Description

    Field Description
    Pay Through Select the Instrument option to perform the settlement.

    Note:

    For information on CASA and Ledger, refer Settling Disbursement by CASA and Settling Disbursement by Ledger.
    Type Select the instrument type. The options are:
    • Banker's Cheque
    • Demand Draft
    Payable Bank & Branch Click the Search icon and select the bank and branch name paying the disbursement.

    Note:

    For more information on fetching the bank and branch name, refer Fetch Payable Bank and Fetch Payable Branch.
    Issuing Branch Specify the issuing branch name.
    Instrument Specify the instrument details like code, number, and date.
    Payee Name Specify the payee name on the instrument.
    Payee Address Specify the payee address details.
    • To fetch the payable bank:
      1. From the Payable Bank & Branch field, click the Search icon from the first field.

        The Bank Code section is
            displayed.

        Figure 2-44 Bank Code

        Description of Figure 2-44 follows
        Description of "Figure 2-44 Bank Code"
      2. Specify the code in the Bank Code field and click Fetch.
      3. Select the code displayed in the table.
    • To fetch the payable branch:
      1. From the Payable Bank & Branch field, click the Search icon from the first field.

        The Branch Code section is
            displayed.

        Figure 2-45 Branch Code

        Description of Figure 2-45 follows
        Description of "Figure 2-45 Branch Code"
      2. Specify the code in the Branch Code field and click Fetch.
      3. Select the code displayed in the table.
  6. Click Submit.
    The screen is successfully submitted for authorization.

Parent topic: Loan Disbursement