Podcast
Questions and Answers
In case of transfer transactions, posting and verification of value dated transactions has been restricted to ______ only.
In case of transfer transactions, posting and verification of value dated transactions has been restricted to ______ only.
Hall Incharge, Incharge Credit, System Manager and Branch Manager
To ensure the Maker/Checker concept, the value dated transaction has to be posted/verified by a user other than the ______.
To ensure the Maker/Checker concept, the value dated transaction has to be posted/verified by a user other than the ______.
creator/enterer
Branch Managers have been advised to ensure strict compliance with standing instructions at their ______ and ensure daily extraction and checking of Supplementary, Exceptional Reports.
Branch Managers have been advised to ensure strict compliance with standing instructions at their ______ and ensure daily extraction and checking of Supplementary, Exceptional Reports.
Branches
IS Audit Users at Zonal Offices/ ______ shall continue to monitor value-dated transactions and other related discrepancies regularly.
IS Audit Users at Zonal Offices/ ______ shall continue to monitor value-dated transactions and other related discrepancies regularly.
Signup and view all the answers
Provisioning for net debit balance in Office Accounts is categorized ______.
Provisioning for net debit balance in Office Accounts is categorized ______.
Signup and view all the answers
The RBI Master Direction on Financial Statements refers to ______ and Disclosures.
The RBI Master Direction on Financial Statements refers to ______ and Disclosures.
Signup and view all the answers
Credit entries outstanding for more than five years in the inter-branch account should be transferred to a separate ______.
Credit entries outstanding for more than five years in the inter-branch account should be transferred to a separate ______.
Signup and view all the answers
Any adjustment from the Blocked Account should be permitted only with the authorisation of two officials, one of whom should be from the [blank}.
Any adjustment from the Blocked Account should be permitted only with the authorisation of two officials, one of whom should be from the [blank}.
Signup and view all the answers
One office account titled “Agency Bank A/c J&K Government” under number XXXX010220000001 (where XXXX stands for the ______ ID of the Treasury Branch)
One office account titled “Agency Bank A/c J&K Government” under number XXXX010220000001 (where XXXX stands for the ______ ID of the Treasury Branch)
Signup and view all the answers
These accounts are ‘______ Balance’ accounts i.e.the balance in these accounts is reset to ZERO at the close of each day by offsetting transfer from / to the Link Office account.
These accounts are ‘______ Balance’ accounts i.e.the balance in these accounts is reset to ZERO at the close of each day by offsetting transfer from / to the Link Office account.
Signup and view all the answers
EXPEN stands for ______ in the given table.
EXPEN stands for ______ in the given table.
Signup and view all the answers
The ______ balance check implemented in the system for these accounts prevents SOL submission by the respective Treasury Branches unless the end-of-day balance in the account is ZERO.
The ______ balance check implemented in the system for these accounts prevents SOL submission by the respective Treasury Branches unless the end-of-day balance in the account is ZERO.
Signup and view all the answers
The OABLI account type includes ______ and Sundry Deposits.
The OABLI account type includes ______ and Sundry Deposits.
Signup and view all the answers
To ensure 24X7 banking in CBS, transactions happen from ______ (Central Stand In Server) when main CBS server is not available.
To ensure 24X7 banking in CBS, transactions happen from ______ (Central Stand In Server) when main CBS server is not available.
Signup and view all the answers
Some of the transactions result in proxy transactions when ATM transactions take place in ______ database and CSIS database is not in sync with the main database.
Some of the transactions result in proxy transactions when ATM transactions take place in ______ database and CSIS database is not in sync with the main database.
Signup and view all the answers
The OAPCR account type includes ______ and remittance in transit.
The OAPCR account type includes ______ and remittance in transit.
Signup and view all the answers
In order to enable day-end at the Branch (Service Outlet), such transactions are posted in separate account called ______ account (Sundry Proxy account/Suspense Proxy account) by the System Administrator/Authorized Official.
In order to enable day-end at the Branch (Service Outlet), such transactions are posted in separate account called ______ account (Sundry Proxy account/Suspense Proxy account) by the System Administrator/Authorized Official.
Signup and view all the answers
The ZEROB account type includes ______ and parking TDS.
The ZEROB account type includes ______ and parking TDS.
Signup and view all the answers
However, in case of ______ proxy, system marks lien in the accounts.
However, in case of ______ proxy, system marks lien in the accounts.
Signup and view all the answers
The HO account type is related to ______ Inter Branch and Inter Bank.
The HO account type is related to ______ Inter Branch and Inter Bank.
Signup and view all the answers
These accounts are replicated in the subject GL across all Treasury Branches of the Bank for exclusive posting of all government receipts and payments under the ______ arrangement.
These accounts are replicated in the subject GL across all Treasury Branches of the Bank for exclusive posting of all government receipts and payments under the ______ arrangement.
Signup and view all the answers
The PROXY account type is related to ______ Posting account.
The PROXY account type is related to ______ Posting account.
Signup and view all the answers
The total of all accounts is ______.
The total of all accounts is ______.
Signup and view all the answers
The given table is part of the ______ Office Accounts Policy.
The given table is part of the ______ Office Accounts Policy.
Signup and view all the answers
If _______________ balance in the account, Total Freeze shall be applied.
If _______________ balance in the account, Total Freeze shall be applied.
Signup and view all the answers
If _______________ balance in the account, Total Freeze shall be applied.
If _______________ balance in the account, Total Freeze shall be applied.
Signup and view all the answers
In case of an _______________ or inevitability, User Department shall get any internal / office account frozen / unfrozen in between without waiting for the above practice.
In case of an _______________ or inevitability, User Department shall get any internal / office account frozen / unfrozen in between without waiting for the above practice.
Signup and view all the answers
The concern _______________ Head shall approve the closure of accounts used across SOLs.
The concern _______________ Head shall approve the closure of accounts used across SOLs.
Signup and view all the answers
The request of the user department for closure of office accounts shall be forwarded to the _______________ Department for analysing the validity of the request.
The request of the user department for closure of office accounts shall be forwarded to the _______________ Department for analysing the validity of the request.
Signup and view all the answers
The final approval for closure of office accounts shall be granted by the _______________ Director.
The final approval for closure of office accounts shall be granted by the _______________ Director.
Signup and view all the answers
Reversals shall be allowed in office accounts, particularly in _______________ & Loss/Income Heads, except for the following concessions.
Reversals shall be allowed in office accounts, particularly in _______________ & Loss/Income Heads, except for the following concessions.
Signup and view all the answers
Concessions / Waivers, if granted, by _______________ Authority as per extant delegation of powers.
Concessions / Waivers, if granted, by _______________ Authority as per extant delegation of powers.
Signup and view all the answers
Service charges related to Deposit Accounts not within the ______ Financial Year
Service charges related to Deposit Accounts not within the ______ Financial Year
Signup and view all the answers
Loan Accounts not within the ______/- are authorized by the General Manager
Loan Accounts not within the ______/- are authorized by the General Manager
Signup and view all the answers
Service charges related to Deposit Accounts /CC /OD within the ______ Financial Year
Service charges related to Deposit Accounts /CC /OD within the ______ Financial Year
Signup and view all the answers
Intra-Departmental Transactions w.r.t.Booking of treasury income, etc. up to ______ Lakh are authorized by the Concerned Vertical Head
Intra-Departmental Transactions w.r.t.Booking of treasury income, etc. up to ______ Lakh are authorized by the Concerned Vertical Head
Signup and view all the answers
Above ______ Lakh Intra-Departmental Transactions w.r.t.Booking of treasury income, etc. are authorized by the MD & CEO
Above ______ Lakh Intra-Departmental Transactions w.r.t.Booking of treasury income, etc. are authorized by the MD & CEO
Signup and view all the answers
The above delegation shall not cover operational issues viz.payment of overdue interest at term deposit rates due to non-renewal of deposits, wrong interest application due to wrong interest codes, non-linking of loan account with ______ account, etc.
The above delegation shall not cover operational issues viz.payment of overdue interest at term deposit rates due to non-renewal of deposits, wrong interest application due to wrong interest codes, non-linking of loan account with ______ account, etc.
Signup and view all the answers
Deposit Accounts not within the current Financial Year up to ______ Lakh are authorized by the General Manager
Deposit Accounts not within the current Financial Year up to ______ Lakh are authorized by the General Manager
Signup and view all the answers
Deposit Accounts not within the current Financial Year above ______ Lakh are authorized by the Executive Director
Deposit Accounts not within the current Financial Year above ______ Lakh are authorized by the Executive Director
Signup and view all the answers
Study Notes
Office Accounts Policy
- Office accounts are categorized into Expenditure, Income, Office Account Liability, and Zero Balance accounts.
- Expenditure accounts include interest paid, depreciation, and establishment accounts, totaling 287 accounts.
- Income accounts comprise interest received, commission, exchange, and fees, totaling 265 accounts.
- Office Account Liability accounts include interest accrued, TDS, and sundry deposits, totaling 86 accounts.
- Zero Balance accounts include government agency transactions, parking, and TDS, totaling 3 accounts.
Agency Bank Account
- A dedicated office account, "Agency Bank A/c J&K Government," is maintained for exclusive posting of government receipts and payments under the agency arrangement.
- This account is replicated across all Treasury Branches of the Bank with a zero-balance check.
- A nodal/offset account is created in the Link Office, Government Business, CHQ Sol for offsetting transfers.
Proxy Accounts
- Proxy accounts are created to ensure 24X7 banking in CBS when main CBS server is not available.
- Transactions resulting in proxy transactions are posted in separate accounts called Proxy account (Sundry Proxy account/Suspense Proxy account) by the System Administrator/Authorized Official.
Value-Dated Transactions
- Value-dated transactions can only be posted and verified by Hall Incharge, Incharge Credit, System Manager, and Branch Manager.
- The Maker/Checker concept ensures that the value-dated transaction is posted/verified by a user other than the creator/enterer.
Provisioning for Net Debit Balance in Office Accounts
- In line with RBI Master Direction on Financial Statements, credit entries outstanding for more than five years are segregated in a separate 'Blocked Account' under 'Other Liabilities and Provisions - Others'.
- Any adjustment from the Blocked Account requires authorization from two officials, one of whom should be from the Controlling/Head Office if the amount exceeds Rupees One lakh.
Closure of Office Accounts
- Closure of office accounts requires approval from the concerned User Department and Vertical Head.
- Periodic review of accounts is conducted to identify and process redundant accounts for closure.
Delegation for Reversal of Transactions in Office Accounts
- Reversals in office accounts are not allowed, except for concessions/waivers granted by Competent Authority, loan accounts, and service charges related to deposit accounts.
- Delegation for reversals varies depending on the amount and nature of the transaction.
Studying That Suits You
Use AI to generate personalized quizzes and flashcards to suit your learning preferences.
Description
This quiz covers various aspects of accounting, including expenditure, income, and office accounts. It tests knowledge of different accounts, such as interest paid and received, depreciation, and sundry deposits.
