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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 ______.
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.
Branches
IS Audit Users at Zonal Offices/ ______ shall continue to monitor value-dated transactions and other related discrepancies regularly.
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Provisioning for net debit balance in Office Accounts is categorized ______.
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The RBI Master Direction on Financial Statements refers to ______ and Disclosures.
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Credit entries outstanding for more than five years in the inter-branch account should be transferred to a separate ______.
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Any adjustment from the Blocked Account should be permitted only with the authorisation of two officials, one of whom should be from the [blank}.
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One office account titled “Agency Bank A/c J&K Government” under number XXXX010220000001 (where XXXX stands for the ______ ID of the Treasury Branch)
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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.
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EXPEN stands for ______ in the given table.
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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.
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The OABLI account type includes ______ and Sundry Deposits.
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To ensure 24X7 banking in CBS, transactions happen from ______ (Central Stand In Server) when main CBS server is not available.
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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.
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The OAPCR account type includes ______ and remittance in transit.
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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.
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The ZEROB account type includes ______ and parking TDS.
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However, in case of ______ proxy, system marks lien in the accounts.
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The HO account type is related to ______ Inter Branch and Inter Bank.
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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.
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The PROXY account type is related to ______ Posting account.
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The total of all accounts is ______.
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The given table is part of the ______ Office Accounts Policy.
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If _______________ balance in the account, Total Freeze shall be applied.
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If _______________ balance in the account, Total Freeze shall be applied.
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In case of an _______________ or inevitability, User Department shall get any internal / office account frozen / unfrozen in between without waiting for the above practice.
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The concern _______________ Head shall approve the closure of accounts used across SOLs.
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The request of the user department for closure of office accounts shall be forwarded to the _______________ Department for analysing the validity of the request.
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The final approval for closure of office accounts shall be granted by the _______________ Director.
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Reversals shall be allowed in office accounts, particularly in _______________ & Loss/Income Heads, except for the following concessions.
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Concessions / Waivers, if granted, by _______________ Authority as per extant delegation of powers.
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Service charges related to Deposit Accounts not within the ______ Financial Year
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Loan Accounts not within the ______/- are authorized by the General Manager
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Service charges related to Deposit Accounts /CC /OD within the ______ Financial Year
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Intra-Departmental Transactions w.r.t.Booking of treasury income, etc. up to ______ Lakh are authorized by the Concerned Vertical Head
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Above ______ Lakh Intra-Departmental Transactions w.r.t.Booking of treasury income, etc. are authorized by the MD & CEO
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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.
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Deposit Accounts not within the current Financial Year up to ______ Lakh are authorized by the General Manager
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Deposit Accounts not within the current Financial Year above ______ Lakh are authorized by the Executive Director
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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.
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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.
