RD Default Fee Refund Process. RD (Post Office Recurring Deposit) Account Default fee Refund Steps.
1. Finacle system will not allow deposits in Rd without default fee
2. Agents will have to prepare the list making deposits upto August month with default fee.
3. List generated with ID will be admitted by all counter PAs with default fee and update the deposits in finacle system without any change in any counter acceptance process.
3. CEPT will generate the details of default fee paid by agents alone (this is not applicable to individual regular depositirs) and credit this amount of default in to the POSB accounts of agents directly on 3/4th September
Agents lists must be accepted on 1st and 2nd with default fee without refusing them. Agents may also be told through counter PAs/spms/hpms accordingly.
