Company to Trust – 2nd Channel Work Process

Company to Trust – 2nd Channel Work Process
1. There will be 2 companies, (1-Sister Concern, 2-Mother Company).
2. The company person (single person) who’s coming here will have authorisation letter from both the companies (ID card from sister concern only).
3. In the first meeting he will show the authorisation letter of the Sister Concern.
4. Then both the party reach the VP desk.
5. Trust AP gives the 2nd Channel fund proof with slot booking in VP desk, by getting his slot and Rent receipt verified on bank domain sever (In Finacle).
6. Once the 2nd Channel fund proof is verified, company AP shows his 2nd Channel authorisation letter from the account holder.
7. Then the company AP give pull-out statement from the Mother Company bank account which will have sufficient amount for the day’s transaction.
 8. Trust party verifies the pull-out statement. After the pull-out statement verification by the trust party, company receiving 2nd Channel details to be given to the trust VP.
9. After verification of the pull-out statement, the trust party transfers the _____cr 2nd Channel amount to company 2nd Channel and generates the transaction and release codes.
10. Trust party shares the transaction code alone to the company AP with the transaction details.
11. Company AP verifies the transaction code, once it’s verified positively he initiates the RTGS from the mother branch & holds the UTR code.
 12. After the receipt of RTGS, trust can do in & out.
13. After the in & out process both the AP exchanges the release code and the UTR number simultaneously.
14. The media to be paid before the exchange of release code and the UTR number by W party.

Signature of A party                                                         Signature of B party