4.6.4 Track Status of Returned Cheques

This topic provides information on tracking status of returned cheques details.

After a transaction has been allocated, the purchase transaction will have a cooling block set, which implies that no units can be redeemed from this transaction’s lots. The cooling block will be removed (transaction will be cooled off) when the status of the instrument is updated as cleared.

You can track the status of the physical instruments using the Payment Clearing Detail screen.

To track the status of a payment instrument for a transaction in the Payment Clearing Detail screen, do as follows:

• In the Selection Criteria section, specify the following details as search parameters to retrieve the transaction records for which the payment instruments must be tracked:
• In the Mode field, select the New option.
• In the Level field, select the Settlement option.
• You can search for a record using any of the following criteria:
  • Fund ISIN
  • Fund ID
  • AMC ID
• In the Payment Mode field, select the mode of payment specified for the transaction for which you want to update the status of the payment instrument. Only Cheque, Demand Draft and Money Transfer payment modes are applicable. To clear a specific payment instrument, enter the number of the instrument in the Specific Number field.
• In the Date Range fields, specify a range of dates that would signify the period between which the transaction date, the allotted date or the payment date of the transaction would be found.
• Click the Show button. All transactions with payment instruments that match your search criteria are displayed, in the lower grid portion of the screen in a list.
• All necessary information such as transaction number, payment mode, clearing date, payment currency, payment amount, etc is recorded.
• Click the Payment Details link to view the Settlement Information screen. The payment details of all legs involved in the transaction is displayed.
• Specify the status of the instrument in the Instrument Status field. The options are:
  • Credit Received - Once this status is selected, system triggers automatic clearing of the associated transaction record and convert provisional units into confirmed units.
  • Debit Received - Indicates that information about Cheque rejection is received from Bank. - Indicates that information about Cheque rejection has been received at AMC/TA through return of physical instrument.
  • Rejected - This means that both; rejected cheque and reject information from the bank have been received. Once this status is updated, system will trigger automatic reversal of the associated transaction record.
• Specify any relevant remarks in the Remarks field.
• After marking as many instruments as for tracking, click the Save button to save your changes.

If you select an Instrument Status for one or all of Instruments for a transaction that results in payment / transaction rejection, system gives the following warning message This will reject the entire transaction. Do you want to go ahead?.