Indian Railways International Transactions Quiz

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Questions and Answers

Which type of payments made in England are chargeable to the Ministry of Railways?

Payments for establishment and services chargeable to the Railway Ministry (correct)

Payments for equipment damaged during transit

Payments related to employee training programs in England

Payments for promotional events in the UK

What type of recoveries is mentioned as part of transactions with the United Kingdom?

Recoveries of equipment costs

Recoveries of promotional expenses

Recoveries of travel expenses

Recoveries of advances (correct)

Which of the following items is included in the miscellaneous transactions with the United Kingdom?

Inspection charges on stores (correct)

Shipping fees for equipment

Rental payments for office space

Tax payments to the UK government

Who advises the Railway Board regarding transactions in the United Kingdom?

The Chief Accounting Officer to the High Commissioner in London Signup and view all the answers

What is not included in the payments made on behalf of Indian Railways in England?

Payments for train maintenance and repairs Signup and view all the answers

Which protocol is followed for payments by diplomatic missions abroad?

Payments are made based on a prior approval from the Ministry Signup and view all the answers

Which type of transactions involve the settlement of accounts between the Indian Railways and the Burmese government?

Settlement of transactions between Indian Railways and Burma Government/Burma Railways Signup and view all the answers

What is required to support any debit/credit included in the Indo-Bangladesh monetary accounts?

Relevant vouchers and complete transaction particulars Signup and view all the answers

Which transaction does NOT fall under the Indo-Bangladesh inter-Railway transactions?

Cost of repair on vehicles used by customs officials Signup and view all the answers

When should the Indian Railways advise the Railway Board of the transactions with Bangladesh?

By the 6th of each month Signup and view all the answers

What major head of account is used for transactions with the Government of Bangladesh?

879 Accounts with Governments of other countries-Bangladesh (Railway) Signup and view all the answers

What should accompany the monthly schedules sent to the Railway Board?

Vouchers or accepted bills in the case of expenditure Signup and view all the answers

Who receives the debits and connected documents for stores purchased through Indian supply missions?

The Accounting Officer to the Supply Ministry Signup and view all the answers

What is the role of the Railway Board regarding debits from the Bulk Order Programme?

To accept the debit on behalf of all Railways Signup and view all the answers

How are transactions occurring in India on behalf of Pakistan financially settled?

Monthly cash settlements via Bank Draft Signup and view all the answers

What does the Railway Board (India) act as for the settlement of transactions with Pakistan?

A central agency for various departments Signup and view all the answers

When is the monthly schedule of transactions adjustable with Pakistan Railways due?

On the 5th of the second following month Signup and view all the answers

What type of transactions does the monthly schedule exchanged with Pakistan Railways include?

Inter-Government authorized adjustments and through traffic Signup and view all the answers

Which authority adjusts transactions directly with Pakistan's Central Government Departments?

Indian Railways Signup and view all the answers

What happens to the transactions compiled in the Railway Board's Office?

They are exchanged with the Pakistan Railways Signup and view all the answers

What type of charges does the schedule for Pakistan Railways embody?

Hire and penalty charges on rolling stock interchanged Signup and view all the answers

Which document serves as a basis for the financial settlement of transactions with Pakistan?

Monthly schedules of transactions Signup and view all the answers

How are adjustments in railway accounts advised from the United Kingdom to India?

Through monthly Statements of Issues and Payments. Signup and view all the answers

What is the role of the Accountant General, Maharashtra in this process?

To intimate rupee equivalents for transactions. Signup and view all the answers

Which document does the Railway Board send to Financial Advisers and Chief Accounts Officers after verification?

A Transfer Certificate or Acceptance of Transfer. Signup and view all the answers

What does the Reserve Bank confirm upon receipt of memos from the Accountant General?

Verification of the total rupee amount. Signup and view all the answers

Under which head is the rupee amount adjusted in the Railway Board's Office?

Reserve Bank-Suspense. Signup and view all the answers

What is the primary task of the Financial Adviser and Chief Accounts Officer regarding sterling amounts?

Convert and adjust the sterling amounts. Signup and view all the answers

When does the head 'Reserve Bank-Suspense' get cleared?

Upon acceptance of Transfer Certificates by the Railways. Signup and view all the answers

What is the ultimate purpose of verifying the amounts with the memo of clearance?

To ensure the accuracy of financial data. Signup and view all the answers

What transaction type is adjusted by the Railways through the head 'Transfer Railways'?

Debits and credits from transactions. Signup and view all the answers

Who is responsible for settling transactions between the Indian Railways and the Burma Government?

The Railway Board Signup and view all the answers

What must be classified separately when adjusting transactions with the Burma Government?

Vouchers relating to original transactions Signup and view all the answers

What document should be sent to the Accountant General, Burma at the end of the month?

A schedule of original vouchers and bills Signup and view all the answers

What action follows the receipt of transfer certificates by the Railway Board?

Make a consolidated statement of debits Signup and view all the answers

Which entity sends advice of debits and credits for transactions originating in Burma?

The Railway Board Signup and view all the answers

What should be done in case of discrepancies in vouchers and bills?

Contact the Accounting Officers in Burma directly Signup and view all the answers

How should transactions originating in India be categorized?

As adjustable with the Accountant General, Burma Signup and view all the answers

What must accompany the transfer certificate sent to the Railway Board?

A copy of the schedules Signup and view all the answers

Who handles the adjustment of transactions that originate from the Burma Government?

The Accountant General, Burma Signup and view all the answers

What is the primary purpose of the correspondence with the Accounting Officers in Burma?

To clarify discrepancies in transactions Signup and view all the answers

What types of payments made in England on behalf of Indian Railways are managed by the High Commissioner?

Payments on accounts of establishment and services chargeable to the Railway Ministry Signup and view all the answers

Which of the following items is considered a miscellaneous transaction in relation to dealings with the United Kingdom?

Adjustments for inspection charges on stores Signup and view all the answers

In transactions with Pakistan, what does the monthly schedule provide information about?

Schedule of adjustable transactions between Indian and Pakistan railways Signup and view all the answers

Which aspect of payments by diplomatic missions abroad is emphasized in the provided content?

They adhere to a specific procedural guideline Signup and view all the answers

What is required for the financial settlement of transactions with Pakistan?

Adjustment of amounts via a specific document Signup and view all the answers

What documentation is required to be sent to the Accountant General in Burma at the end of the month?

Transfer certificates for all transactions Signup and view all the answers

How should transactions originating in India be categorized according to the guidelines?

Grouped based on nature and departmental affiliation Signup and view all the answers

What is the time limit for settling accounts related to transactions other than through traffic after receiving the schedule?

One month from receipt Signup and view all the answers

Which head is used under the Indian Railways' account for transactions with Pakistan?

Suspense and Miscellaneous-Accounts with Government of Other Countries Signup and view all the answers

What must the Railway Administration do before making payment abroad on behalf of the Railways?

Obtain necessary permission from the Ministry of Finance Signup and view all the answers

For payments made in London, which process is NOT necessary?

Authorization from the Accountant General Signup and view all the answers

What is indicated by 'adjustments permissible within two calendar months'?

For adjusting transactions other than through traffic Signup and view all the answers

What role does the Railway Board play after receiving the Statements of Issues and Payments?

They verify the total amounts in rupees and sterling. Signup and view all the answers

Which head is used by the Railways for adjusting debits and credits advised to them?

Transfer Railways Signup and view all the answers

When does the Railway Board's 'Reserve Bank-Suspense' head get cleared?

When transfer certificates are accepted by the Railways. Signup and view all the answers

What must happen after the Accountant General, Maharashtra issues the intimation of transactions?

The Accountant General must send a copy to the Railway Board. Signup and view all the answers

How is the rupee equivalent of sterling transactions for a month adjusted in the Railway accounts?

By calculating the average exchange rate. Signup and view all the answers

What is the purpose of sending a memo of clearance from the Reserve Bank to the Railway Board?

To verify amounts before adjustments. Signup and view all the answers

What does the Accountant General, Maharashtra calculate to notify the Reserve Bank?

The rupee equivalent based on average rates. Signup and view all the answers

What is impacted by the verification of amounts managed by the Railway Board?

The accuracy of financial reporting. Signup and view all the answers

Which document initiates the adjustments between the Railway Board and the Railways?

Transfer Certificate Signup and view all the answers

What method is recommended for making payments for articles obtained via direct order in America?

Bank Drafts purchased in favour of the Director General Signup and view all the answers

Which action should be taken for amounts recoverable in cash by the High Commissioner according to the instructions?

Hold it in the Objection book until further notice Signup and view all the answers

What procedure must be followed regarding debits raised against the Railway Board for transactions with the United Kingdom?

Debits should only be raised after credits are confirmed Signup and view all the answers

What should remain unaltered regarding receipts or payments when credited to the general revenues of India?

Salaries of officers proceeding out of India Signup and view all the answers

How should payments for stores obtained f.o.b. basis be processed if the Purchasing officers prefer it?

Directly by the Indian Supply mission after verification Signup and view all the answers

What is the procedure after receipt of advice regarding recoveries from the Railway Board?

Convert into Indian rupees for adjustments Signup and view all the answers

What document must accompany the monthly schedules sent to the Railway Board?

Transfer certificates for adjustments Signup and view all the answers

What action should be taken when there are discrepancies in vouchers and bills?

Seek clarification before approval of payments Signup and view all the answers

When should the Indian Supply mission perform adjustments related to transactions with foreign suppliers?

Upon verification and certification by the Director General Signup and view all the answers

What type of documents should be forwarded to the Accountant General, Burma, at the end of each month?

Original vouchers and corresponding schedules Signup and view all the answers

Which entity is primarily responsible for preparing a consolidated statement of debits after receiving transfer certificates?

Railway Board Signup and view all the answers

What is required to accompany the transfer certificate sent to the Railway Board?

Copies of the relevant schedules Signup and view all the answers

How are transactions originating from the Burma Government adjusted with the Indian Railways?

By the Accountant General, Burma, or Controller of Railway Accounts, Burma Signup and view all the answers

What procedure is followed to enhance communication regarding discrepancies in transactions?

Direct correspondence with Accounting Officers in Burma Signup and view all the answers

What does the Railway Board issue after consolidating transaction debits?

Advice of Clearance Signup and view all the answers

Which banking entity plays a crucial role in the settlement of transactions between Indian Railways and the Burma Government?

Reserve Bank of India Signup and view all the answers

What should be included when preparing schedules sent to the Accountant General, Burma?

Indication of the accounts for the month Signup and view all the answers

What is established when transactions originate from the Indian Railways and are adjusted with the Burma Government?

A systematic settlement procedure Signup and view all the answers

Study Notes

Remittance Transactions—Outside India

Transactions with United Kingdom: Adjustment in Railway Account, conversion rates, direct purchase of stores (European countries, US), miscellaneous instructions.
Transactions with Burma: Settlement of transactions between Indian Railways and Burma Government/Burma Railways, transactions originating in India/Burma, correspondence.
Transactions through Supply Missions: Adjustment of debits for rolling stock cost, stores purchased through missions.
Transactions with Pakistan: Transactions with Pakistan, monthly schedule, payments by diplomatic/trade missions, Bank draft payments (monthly), Railway Board acts as central agency.
Indo-Bangladesh Transactions: Procedure for settlement of Indo-Bangladesh inter-railway transactions, settlement effected through railway board, various transactions.
Accounting Arrangements under International Development: Credit arrangements (IDA), accounting for payments to foreign suppliers, procedures for payment, letters of credit.

Remittance Transactions Outside India (Page 2)

Payments in England: Payments on accounts of establishment, leave, salary, allowances, payment for stores and miscellaneous services.
Other transactions: Provident Fund recoveries, recoveries of advances, inspection charges on stores, miscellaneous items.
Adjustment in Railway Accounts: Net amount of transactions in United Kingdom to be adjusted in India, advised to the Accountant General, Maharashtra. Rupee equivalent (average exchange rate) to be calculated and forwarded to Reserve Bank for "Railway Fund". Intimation to the bank, copy to Railway Board

Remittance Transactions Outside India (Page 3)

Rate of Conversion for Adjustment: Sterling amount conversion to rupees at average exchange rate and adjustment, details on methodology for different accounts, statutory rate of exchange differences, difference in average and statutory rate.
Stores from other European Countries: High Commissioner forwards payment and shipping documents, Financial Adviser checks invoice receipt and distribution. Detailed rules are in Indian Railway Code.
Direct Purchase from United Kingdom: Payments by Bank Drafts, direct orders on firms/individuals, payment based on FOB, inspection by Director General of Supplies.
Direct Purchase from U.S.A.: Payments through Bank Drafts with Director General for India Supply Mission.

Remittance Transactions Outside India (Page 4)

Miscellaneous Instructions (United Kingdom): No debits until confirmation from high commissioner, no receipt/payments if revenue unchanged.
Transactions with Burma: Settlement of transactions between Indian and Burma Railways. Method using Accountant General, Burma and Reserve bank.
Transactions originating in India (Burma): Schedules of transactions for account of Accountant General, Burma.
Simultaneous Transactions: Separate schedules for Burma & transactions originating in Burma, preparation of credits/debits, advice of clearance to Reserve Bank, consolidated statement of debits.
Correspondence: Direct communication with Accounting Officers in Burma (Accountant General, Controller).

Remittance Transactions Through Supply Missions (Page 5)

Adjustment of Debits (Supply Missions): Debits (related documents) sent to Accounting Officer for Supply Ministry, New Delhi, forwarded directly to concerned railway, railway board handles Bulk Orders.
Transactions with Pakistan: Bank Draft payments (monthly) per agreement with Pakistan Comptroller/Auditor General; Railway Board acts as central agency for India and Pakistan railways, central agency in India.
Monthly Schedule of Pakistan Transactions: Schedules should reach Railway Board by the 5th of the second following month.
Procedure for Pakistan Payments: Checks, adjustments, time limits for through traffic transactions, time limit for transactions other than through traffic.
Payments by Diplomatic/Trade Missions: Application procedure for payments made by missions abroad on behalf of Indian Railways.

Indo-Bangladesh Transactions (Page 6)

Procedure for Indo-Bangladesh Transactions: Settlement of transactions through Railway Board (India) & Railway Division of Bangladesh’s Ministry of Communications, covering various transaction types, including hire/penalty charges, compensation claims, repair charges, running staff, POH-rolling stock, other staff placed, hire charges/coaches, cost of coal/diesel, shunting, railway publications.
Transaction Types (detailed): Various transactions between Indian Railways & Bangladesh Railways (e.g., hire/penalty charges, compensation claims, repair charges, running staff, purchase/repair of rolling stock, placement of staff, transfer of coaches, cost of fuel, shunting, railway publications).

Indo-Bangladesh Transactions (Page 7)

Advice Procedures for Settlements: Consolidated transaction advice, monthly, through schedules and copies to Secretary, Railway Division, Bangladesh Ministry of Communication, copies of relevant schedules/vouchers.
Payments/Settlements: Bank drafts to appropriate parties, resolve transactions within one month, re-adjustments within four months.
Accounting Arrangements under IDA Credit: Procedure for payments to foreign suppliers under International Development Association (IDA) credit. Foreign exchange procedures for reimbursement, letters of credit used.

Indo-Bangladesh Transactions (Page 8)

Accounting Arrangements/Procedures: Payment methodologies (foreign exchange procedures, letters of credit) under 3 different IDA procedures, accounts with Bangladesh government handled as suspense items.
Accounting Methods: Reimbursement claims from IDA, accounting for payments to suppliers using appropriate methods, letters of credit, payments made directly by IDA.

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Test your knowledge on the various international transactions involving Indian Railways, particularly focusing on the payments made to and from the United Kingdom, Bangladesh, and Burma. Understand the protocols, recoveries, and advisory roles within these monetary accounts. This quiz is essential for anyone studying railway operational finance in India.