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    IPPB PLI Premium Payment | SOP for PLI/RPLI Premium Collection Through IPPB Mobile App | Roll out of PLI-IPPB Functionality

    Government of India

    Ministry of Communications, 

    Department of Posts


    DIRECTORATE OF POSTAL LIFE INSURANCE

    Chanakyapuri Post Office Complex, Chanakyapuri, New Delhi-110021


    F.No, 25-04/SOP/2020-LI Dated:-27.05.2022


    Office Memorandum

    Sub: Roll out of PLI-IPPB (India Post Payments Bank) functionality


    This is regarding roll out of PLI-IPPB functionality deployed from 27-05-22, which provides the facility of payment of PLI/RPLI renewal premia through following modes :-


    (i) IPPB Mobile App — Customer can deposit their PLI/RPLI premium through mobile app.


    (ii) IPPB Counters — Customer can visit Post office IPPB Counter to deposit PLI/RPLI premium.


    (iii) Micro ATM (Through Postman & GDS) — In addition to other IPPB services, now postman will be able to facilitate customer to deposit their

    PLI/RPLI premium using micro ATM device.

    (iv) Standing Instructions through IPPB Account — Customer can register for Standing Instruction either by visiting IPPB counters or using IPPB mobile app every month, PLI/RPLI premium will be debited automatically from their IPPB account,


    2 It is further informed that Standard Operating Procedure (SOP) for the above functionality will be circulated separately by IPPB team.


    3 Standard Accounting Procedure (SAP) as received from PAF Division, Postal Directorate containing roles of different offices is being enclosed for reference & necessary action by the respective offices.


    4 It is, therefore, requested that the above information may widely be disseminated among all administrative offices, operational staff & marketing staff for wide publicity & also for sensitizing our valuable customers about the functionality.


    Sub: Standard Accounting Procedure for PLI/RPLI Collections through IPPB - reg


    The revised Standard Accounting Procedure for PLI/RPLI premium collections through IPPB is forwarded here with. SAP communicated vide this office letter of even no. dated 05-01-2022, stand cancelled,


    New Proposed Head of Account

    8661 - SUSPENSE ACCOUNT (POSTAL)

    00 - SUSPENSE ACCOUNT (POSTAL)

    140 - MISCELLANEOUS SUSPENSE

    37 - Adjustments between PLI /RPLI & IPPB

    00 - Adjustments between PLI/RPLI & IPPB

    00 - DEFAULT


    Standard Accounting Procedure for PLI/RPLI Collections through IPPB


    Manual voucher posting to be made till PLI-IPPB Integration. Once integration in done, entries will flow automatically.


    Nodal PO: Sansad Marg HO


    PLI/RPLI Collection are collected through IPPB through integration between IPPB & Me. Camish. At the time of payment through IPPB app, the policy is updated instanuly. The following accounting entries are posted on a daily basis by the nodal Post Office Sansad Marg HO, based on the Mc.Camish Reports and the amount received in Remittances to Bank Account,


    a) On receipt of amount from IPPB by Sansad Marg HO — Remittances Account


    Role of Nodal Post Office (Sansad Marg HO)


    1. Amount received from IPPB towards PLI/RPLI premium collection to be verified with bank statements for the day.

    2. PLI/RPLI premium collected through IPPB report is to be taken from McCamish and the same should be tallied with bank credit by IPPB.


    Posting of accounting entries as mentioned above. Nullify the balance in the (New GL) -HOA-866100140370000 on daily basis.


    5. Bank reconciliation to be carried out for the amount received from IPPB as per existing process.


    Role of Nodal PAO (PAO, Delhi)


    1. Ensure that Nodal Post office(i.e.,Sansad Marg HO) nullify the balance in the

    (New GL) & HOA-866100140370000 Role of Other PAQs than Nodal PAQ(PAQ, Delhi)


    1. Ensure that no bookings found in the (New GL) HOA-866100140370000 in

    SAP

    2. Ensure that no bookings found in the HOA-866100140370000

    This issues with the approval of Sr. DDG (PAF)


    Download IPPB PLI Premium Payment SOP in PDF

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