Since the PLI-CBS Integration In McCamish:
Pay-in:
1) Renewal Premium collection directly from POSB Savings Accounts through Standing Instruction (SI) Mandate.
2) Renewal Premium Collection directly from POSB Savings Accounts through Mobile Banking (m-Banking) & Internet Banking (e-Banking).
3) Renewal Premium Collection by way of Direct Debit from POSB Savings Account through POSB Bank Slip (Withdrawal Slip) at Post Office Counters.
4) Renewal Premium Collection by way of Direct Debit from POSB Savings Account through POSB Cheque at Post Office Counters.
Pay-out:
1) Disbursement of claims through Post Office Savings Account.
2) Disbursement of Agent Incentive through Post Office Savings Account.
For operation of the above functionalities a Standard Operating Procedure (SOP) is devised in this Directorate and for the accounting of such transactions, a Standard Accounting Procedure (SAP) is issued by the PAF Wing vide letter no. PA/BK-I/PLI/2019 20 dated 22.07.2021. By incorporating the SAP, an Integrated Standard Operating & Accounting Procedure for the PLI-CBS Transactions after PLI-CBS Integration w.e.f. 20.02.2021 is prepared and enclosed herewith for vide circulation and strict compliance.
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SI Mandate Form :
