TIME DEPOSITS
CONTROL PROCEDURE
FORMS
58.
(i) Register of binder-wise and office wise balances :- This will be
maintained in the form SB-85 separately for each category. The instructions for
the maintenance of the register as contained in Chapter-11 for RD accounts will
apply mutatis mutandis.
(ii)
Register on non-cash transactions:- This will be maintained in the
form SB-85(a) separately for each category.
(iii) Consolidated Journal of deposits
and Withdrawals:-This will be prepared
in the form SB-109 separately for each category. (Annexure 1)
(iv) Statistical register :- This
will be maintained in the form SB-89(a) separately for each category. (Annexure
2)
[Para
66 of Manual S.B. Control Procedure]
Checking
of Vouchers and Documents
59.
General check of vouchers and checking of vouchers with reference to entries in
the ledgers :- The vouchers both receipts and payments
will be checked to the following extent :-
(a) All warrants of payment
in respect of withdrawals exceeding Rs. 5000/- at the head and sub offices and
Rs. 500 at ED sub offices and branch offices.
(b)
20% of the vouchers relating to payment of annual interest.
(c) 20% of the
warrants of payment of closed accounts of heavy amounts.
(d)
4% of deposit transactions.
Note
:-
The checks will apply uniformly to accounts maintained either manually or on
computers.
[Para
67 of SB Control procedure as amended vide D.G. Posts letter
No.
5-2/99-SB dated 5.3.2003]
Working out of the total TD balance of the
head office as a whole
60.
For preparation of consolidation in SB-85 register, agreement of totals in the
head office cash book and consolidated journal, etc. the existing procedure in
respect of RD accounts will be followed mutatis mutandis.
[Para
68 of Manual S.B. Control Procedure]
Agreement
of binder balances
61.
The agreement of binder balances will be done once a quarter as on 31st
march, 30th June, 30th September and 31st December each year.
[D.G.
Posts letter No. 1-2/88-SB dated 17.10.1990]
[Para
69 of manual S.B. Control Procedure]
Annual
listing of balances
62. The listing of
annual balances as on 31st December will be done in the same manner
as laid down for RD accounts.
[Para
70 of Manual S.B. Control Procedure]
Custody
and preservation of record
63. The instructions
contained in para 26 of Chapter 1 relating to SB accounts will also
apply to T.D. account mutatis mutandis.
[Para
71 of Manual S.B. Control Procedure]
Submission
of Returns
64.
The instructions contained in para 22 of SB Control Procedure for submission of returns relating to SB accounts
will also apply to T.D. accounts mutatis mutandis.
[Para
72 of Manual S.B. Control Procedure]
Monthly
Progress Report
65. A
monthly progress report regarding state of work, position of agreement of
ledgers, etc. will be sent by the Supervisor to the Accounts Officer, ICO (SB)
with a copy to the Divisional Superintendent of Post Offices in the same manner
as laid down for RD accounts.
[Para
73 of Manual S.B. Control Procedure]
Agent's
schedules for commission paid on Time Deposits
66.
(1) The SBCO will receive daily from the SB Branch the schedules of commission paid to the agents alongwith
receipts (ACG-17) separately for each category. The SBCO will carry out the
following checks :-
(i) The official of
the SBCO will compare the amount of commission paid as shown in the receipt
(ACG-17) with the entries in the schedule.
(ii) The correctness
of the total of the schedule and commission paid at the prescribed rate
will be checked.
(iii) The official
concerned will put his dated signature at the bottom of the schedule in token
of having carried out the above checks.
(iv) The official
in-charge of the SBCO will compare the total amount of the schedules with the
entries in the cash book in order to verify its correctness and place his
initials in the cash book in token of this check.
(2) The SBCO will
enter the details regarding amount of deposits and commission paid under each
category through SAS Agents separately in the statistical register of each
category after the close of the month.
(3) After necessary
checks the schedules of commission paid along with vouchers (receipts ACG-17)
will be sent to the Postal Accounts Office on monthly basis after the close of
the month in the first week of following month.
[Para
74 of S.B. Control Procedure as amended by D.G Posts letter No. 107-16/97-SB
dated 17.4.2000]
Miscellaneous
67. In
all other matters not specifically mentioned in the foregoing paras the
corresponding procedure laid down for RD accounts will be followed mutatis
mutandis in respect of T.D. accounts as well.
[Para 75 of Manual S.B. Control Procedure]
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