CGTMSE Ref. No. (44)/ 4764                                                February 27, 2017

All Member Lending Institutions of CGTMSE
Circular No.124/2016-17
Dear Sir/Madam,

Receipt of Guarantee Fee (GF) through RTGS/NEFT -
Modification in existing procedure

As you may be aware, consequent upon difficulties faced in operationalizing the guidelines of receipt of guarantee fees through NEFT/RTGS mode as against through DDs, circulated by the Trust vide its Circular No. 74/2014-15 dated April 04, 2014 (copy available on our website www.cgtmse.in), the Trust had rolled back the said guidelines and had reintroduced the practice of receipt/remittance of guarantee Fee through DDs effective October 1, 2014   in terms of CGTMSE Circular No. 84/2014-15 dated September 23, 2014 (copy available on our website www.cgtmse.in). The issues involved have since been sorted out and it has been decided to reintroduce the practice of remittance of guarantee fees to CGTMSE only through NEFT/RTGS effective April 01, 2017. To enable MLIs to percolate the said revised guidelines to its controlling office/branch office level, the MLIs are allowed to use any of the two systems (i.e. guarantee fee payment through DD/NEFT/RTGS) till March 31, 2017. Any remittance to CGTMSE towards guarantee fees on or after April 01, 2017 would be accepted only through NEFT/RTGS mode of payment.
The detailed process to be followed by the concerned office of the MLIs remitting the fee is enclosed.

We reiterate that while making payments through NEFT/ RTGS from MLIs respective banking portals, please note that the payment shall be successful only if A/c No. (Virtual A/c No.), Amount and IFSC code match exactly as generated by the system after initiating the payment. No short or excess payment is allowed. In case of any discrepancy, transaction would be rejected and the amount would be credited back to the current account of concerned MLI with the appropriate remarks and the guarantees would not be issued in such cases. Post successful NEFT/RTGS payment from MLI’s banking portal, payment information shall automatically get updated in CGTMSE’s system.
The MLIs are permitted to carry out modifications in the allocations done by them till the time payment option is initiated by them. Please note that no modification in the RP/Pay ID can be done once ‘Initiate Payment ‘option is chosen.

The guarantees in respect of those NEFT/ RTGS payment would commence on receipt of payment in our account and its appropriation in the system. The respective controlling offices of the MLIs are advised, in their own interest, to verify whether payment made by them has been duly received by CGTMSE and that the guarantee fee has been appropriated using menu: Report & MIS >> Application related Report >> CGPAN History. Appropriation of the amount against the corresponding CGPANs in the system might take 2-3 days initially during the start of this new process.

The existing procedure with regard to payment of Annual Fees i.e. Annual Service Fee and Annual Guarantee Fee remain unchanged.
The contents of the circular may please brought to the notice of all your offices.

 

Yours faithfully,


Encl.: As above                                                                                                  Sd/-
(S.S.Bakshee)
General Manager


 

 

 

 

NEFT/RTGS Process Flow Document -

  1. Background:

    This document is intended to guide the MLI users to make use of the newly introduced module Receipts Payments à Payment Through NEFT/ RTGS to facilitate MLIs make payments of Guarantee Fee through NEFT/ RTGS instead of making payments through Demand Drafts or otherwise.
    The modules has following 03 submodules:

      • 1.1  Allocate Payments: Using this options, MLIs can allocate the Demand Advices (DANs) already generated for approved guarantee applications, for payment. A maximum of 50 DANs can be selected in one allocation. For each successful allocation, following informat is generated and displayed on screen:
        • 1 RP No. or PAY_ID
        • 2 Amount and
      • 1.2 Modify/ Cancel RP No./ PAY_ID: Using this option, MLI can modify or cancel an already made allocation (by selecting corresponding RP No.)
      • 1.3 Initiate Payment: Using this option, MLI can initiate the payment for already made allocations by selecting the corresponding RP Nos./ PAY_IDs. For all RP Nos./ PAY_IDs for which payment is initiated, a summary report with information like RP No./ Pay_Id, Virtual A/c No., Amount and IFSC Code will be generated. Using this information viz. Virtual A/c No as A/c No. for CGTMSE as beneficiary, Amount and IFSC Code, MLIs can make NEFT/ RTGS payment for respective RP Nos./ PAY_Ids from their respective Banking portals.

    Important Notes:

    • Once the payment is initated for selected RP Nos./ PAY_Ids (as mentioned at 1.3 above), corresponding RP Nos./ PAY_IDs will not be available for modification/ cancellation. So before initiating the payment, please be doubly sure that correct allocations have been made.
    • While making payments through NEFT/ RTGS from MLIs respective banking portals, please note that the payment shall be successful only if correct A/c No. (Virtual A/c No.), Amount and IFSC code match exactly. No short or excess payment is allowed.
  2. Detailed Process along with screen shots is as under:
    • After Login, Goto àReciepts Payments-àPayment Through NEFT/ RTGS.

    • By Clicking the option Payment Through RTGS/NEFT, it will show below listed sub menu:
    • Allocate Payment Online
    • Modify / Cancel RP NO or PAY_ID
    • Initiate Payment

    • 2.1 Allocate Payment Online:
    • By Clicking On Payment Through NEFT/ RTGS & Allocate Payment Online in sub menu, It will display all the DANs pending for allocation as shown in the following screen:

    • Please select the DANs to be allocated by selecting the corresponding checkbox. (As shown below)

    • At the bottom of the page, total number of DANs selected and Total Amount for the selected DANs is displayed.
    • Press Next button to proceed. System will display following information for the allocation made:

    • After successful allocation, please go to Initiate Payment module to generate necessary information viz. Virtual A/c No., Amount and IFSC Code for making payment through NEFT/ RTGS from MLI’s banking portal.
  3. 2.2 Modify / Cancel RP NO or PAY_ID:

     

    • By Clicking On Payment Through NEFT/ RTGS Modify / Cancel RP NO or PAY_ID  in sub menu

    • After Clicking On, Modify /Cancel RP NO or PAY_ID, in sub menu. It will display below screen.

    • It will show all allocated RP numbers along with Virtual A/C and Amount.
    • If you want to completely delete an allocation i.e.  Select that particular RP number by ticking the checkbox. (as shown above) and press Submit button. This will delete the RP No and de-allocate corresponding DANs with following message on the screen:
    • If you want to modify an allocation by deleting one or more allocated DANs to the particular RP No., click on the RP number Link to display all the allocated DANs as shown below:


    • Select the DAN(s) to be cancelled or de-allocated by ticking the checkbox. If all the DANs are selected for de-allocation/ cancellation, complete RP No. will be cancelled/ de-allocated.  Click on Save Button to proceed. It will give success message like Below

  4. 2.3 INITIATE PAYMENT:
    • By Clicking On Payment Through RTGS/NEFT à Initiate Payment, it will display following screen with all allocated RP Numbers:

    • Select particulate RP Nos./ PAY_Ids for which payment is to be initiated, by ticking the checkbox. Click on Next button to proceed. System will display and cautious message as shown below.

    • IF you want to proceed, click on OK otherwise click on Cancel
    • With click of OK, System displays success message along with RP No., Virtual A/c No., Amount and IFSC Code for selected RP Nos. as displayed below:
    • You may take a print of this or copy and paste in an Excel sheet. This information viz. Virtual A/c, Amount and IFSC Code may be used to make NEFT/ RTGS payment from MLI’s banking portals.
    • Payment shall be successful only if Virtual A/c, Amount and IFSC Code match exactly. So please be careful while entering the same while making payment from your banking portal.
    • Post successful NEFT/ RTGS payment from MLI’s banking portal, payment information shall be automatically get updated in CGTMSE’s system.