Indian Clearing System – Introduction of new Return Reason 88

            With the adoption of Uniform Holiday Calendar under Cheque Truncation System (CTS), a new Return Reason has been introduced.

Under CTS, inward clearing is generally processed in a centralised manner by banks at the CTS location.

However, in exceptional cases, where the reference to base branch is required and the base branch is closed on account of local holiday, the drawee bank at the grid location may return the instrument to the presenting bank under return reason code 88 as enumerated in annexure D of Uniform Regulations and Rules for Bankers' Clearing Houses with the description “need reference to the drawee branch which is closed on account of local holidays/issues”.

Return Reason 88 will be a technical return reason, and will have to re-present by the Presenting Bank, without the physical cheque being returned to the customers.

Drawee Banks have to be very careful while choosing this return reason as the onus will be on them, to prove that there was a holiday in the Base Branch state, in case of any dispute.

Facebook and IAMAI to promote Safe eTransactions

           

            It is said success is easily achieved when collaborating as teams.

Internet and Mobile Association of India (IAMAI) and Facebook have joined hands to launch Internet Safety Education programs for Students between the age group of 13 – 17.

            The average age of Online shoppers is coming down to as low as Age 1. 

Keeping this in mind, FaceBook and Internet and Mobile Association of India (IAMAI), have joined hands to increase awareness amongst 13-17 age group on Safe Internet Practices.

            The Internet and Mobile Association of India [IAMAI] is a young and vibrant association with ambitions of representing the entire gamut of digital businesses in India.

            I am sure, that you do not require introduction to Facebook.

            IAMAI has been running the Safe Surfing campaign in India for the last four years. Facebook is part of a larger online safety community.

            Now, in India both are collaborating to promote smart choices on the World Wide Web.

Why should the above program concentrate only on School Students? There are many kids in India, who do not go to school, but still have access to WWW.

Go ahead, encourage your kid to attend the program.

Andhra pradesh eamcet payment of registration fee is hundred percent cashless

            Engineering, Agriculture and Medical Common Entrance Test (EAMCET) is conducted by Jawaharlal Nehru Technological University Hyderabad on behalf of APSCHE.

This examination is the prerequisite for admission into various professional courses offered in University/ Private Colleges in the state of Andhra Pradesh.

Like all other entrance exams, registration fee has to be paid by the candidates. No cash was accepted, only the ePayment mode:

            The Registration Fee / Late Fee may be paid at:

i. AP Online Centers / Mee Seva centres / e-seva centers in A.P.

OR

ii. Through Payment Gateway (Credit Card / Debit Card)

As the payment mode was fully electronic, there were minimal complaints with regard to reconciliation of fees paid with the application form.

The major advantage of electronic payment was that, slabs for late payment of fees could also be implemented easily.

Submission of Online Application form:

i. Date of commencement of submission of Online Application : 15-02-2013

ii. Last Date for submission of Online application:

Without Late Fee : 27-03-2013

With a Late Fee of Rs. 500/- : 08-04-2013

With a Late Fee of Rs. 1,000/- : 17-04-2013

# With a Late Fee of Rs. 5,000/- : 27-04-2013

# With a Late Fee of Rs. 10,000/- : 07-05-2013

NPCI adopts Verhoeff Algorithm for validation of Aadhaar Numbers

NPCI adopts Verhoeff Algorithm for validation of Aadhaar Numbers

          The NPCI Aadhaar Seeder is the bridge connecting the Government Departments and the Bank Account Holders for receipt various Government subsidies, scholarships etc.

          Due to the LPG subsidy rollout program in the last couple of months, the number of Aadhaar numbers being seeded in Bank Accounts and NPCI Database has zoomed up drastically.

          It might be noted that Aadhaar is just another number, if the Biometrics validation of the Resident is not done.

          At present, basing on the Aadhaar Number Card, the seeding is done on Bank accounts or with LPG companies. The actual biometric validation has not yet commenced.

          Hence, it becomes still more important to capture the correct Aadhaar number.

          Recognizing that the Aadhaar number will be manually keyed in numerous occasions, UIDAI had adopted the Verhoeff Algorithm method, to minimize data-entry mistakes.

          The Algorithm logic is in public domain. However, computation cannot be done manually, and only computer programs are capable of validating a number in the Verhoeff Algorithm method.

          NPCI vide its circular dt. July 09, 2013, advised all banks which are part of the NACH-APB system to implement the Verhoeff Algorithm in their systems to validate Aadhaar numbers before seeding the same in customer accounts. If this is not done, any invalid Aadhaar number will be rejected by NPCI mapper with the reason, ‘Invalid Aadhaar No_ Verhoeff Checksum validation failed’.

Karnataka examination authority

KEA (Karnataka Examination Authority) – An experiment in ePayment

            The KEA is the nodal agency for conducting CET in Karnataka and also issues the Admission Order to enable the selected students to join the Professional colleges they have opted for.

            The normal procedure to remit the fees was through Demand Drafts or payment via challan in designated Bank branches. This year the Designated Bank Branch was Indian Bank, Malleswaram Branch.

            This year new ePayment options have been added. Students can pay their fees through

Net Banking/Debit Card/Credit Card

And

Challan Payment other than Indian Bank (Through NEFT / RTGS)

            The major drawback in the NEFT/RTGS mode is that the Sending Account Number and Name of the account holder would be of the student’s parent and not of the student. And, also due to communication gap, the Proper UTR number would not be uploaded in the KEA portal. As a result, the KEA officials could not map the NEFT/RTGS payments to the respective students.

            The major challenge in the Net Banking/Debit Card/Credit Card was the slow server response time and also that the limits in the credit cards were not sufficient for the fees amount. But, the main advantage was the ability to download the Admission Order immediately.

            15/07/2013 is the last day to remit the fees, and as such, the last few days were a harrowing time for the parents, students and also KEA officials. By 13/07/2013, most of the issues relating to ePayment mode were rectified. However, officials have promised to review the matter tomorrow.

            Additional reading material:

KEA detailed instructions

CET: e-payment system throws them into a tizzy

E-payment glitches March day 2 of CET admissions