Podcast
Questions and Answers
Which type of payments made in England are chargeable to the Ministry of Railways?
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?
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?
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?
Who advises the Railway Board regarding transactions in the United Kingdom?
What is not included in the payments made on behalf of Indian Railways in England?
What is not included in the payments made on behalf of Indian Railways in England?
Which protocol is followed for payments by diplomatic missions abroad?
Which protocol is followed for payments by diplomatic missions abroad?
Which type of transactions involve the settlement of accounts between the Indian Railways and the Burmese government?
Which type of transactions involve the settlement of accounts between the Indian Railways and the Burmese government?
What is required to support any debit/credit included in the Indo-Bangladesh monetary accounts?
What is required to support any debit/credit included in the Indo-Bangladesh monetary accounts?
Which transaction does NOT fall under the Indo-Bangladesh inter-Railway transactions?
Which transaction does NOT fall under the Indo-Bangladesh inter-Railway transactions?
When should the Indian Railways advise the Railway Board of the transactions with Bangladesh?
When should the Indian Railways advise the Railway Board of the transactions with Bangladesh?
What major head of account is used for transactions with the Government of Bangladesh?
What major head of account is used for transactions with the Government of Bangladesh?
What should accompany the monthly schedules sent to the Railway Board?
What should accompany the monthly schedules sent to the Railway Board?
Who receives the debits and connected documents for stores purchased through Indian supply missions?
Who receives the debits and connected documents for stores purchased through Indian supply missions?
What is the role of the Railway Board regarding debits from the Bulk Order Programme?
What is the role of the Railway Board regarding debits from the Bulk Order Programme?
How are transactions occurring in India on behalf of Pakistan financially settled?
How are transactions occurring in India on behalf of Pakistan financially settled?
What does the Railway Board (India) act as for the settlement of transactions with Pakistan?
What does the Railway Board (India) act as for the settlement of transactions with Pakistan?
When is the monthly schedule of transactions adjustable with Pakistan Railways due?
When is the monthly schedule of transactions adjustable with Pakistan Railways due?
What type of transactions does the monthly schedule exchanged with Pakistan Railways include?
What type of transactions does the monthly schedule exchanged with Pakistan Railways include?
Which authority adjusts transactions directly with Pakistan's Central Government Departments?
Which authority adjusts transactions directly with Pakistan's Central Government Departments?
What happens to the transactions compiled in the Railway Board's Office?
What happens to the transactions compiled in the Railway Board's Office?
What type of charges does the schedule for Pakistan Railways embody?
What type of charges does the schedule for Pakistan Railways embody?
Which document serves as a basis for the financial settlement of transactions with Pakistan?
Which document serves as a basis for the financial settlement of transactions with Pakistan?
How are adjustments in railway accounts advised from the United Kingdom to India?
How are adjustments in railway accounts advised from the United Kingdom to India?
What is the role of the Accountant General, Maharashtra in this process?
What is the role of the Accountant General, Maharashtra in this process?
Which document does the Railway Board send to Financial Advisers and Chief Accounts Officers after verification?
Which document does the Railway Board send to Financial Advisers and Chief Accounts Officers after verification?
What does the Reserve Bank confirm upon receipt of memos from the Accountant General?
What does the Reserve Bank confirm upon receipt of memos from the Accountant General?
Under which head is the rupee amount adjusted in the Railway Board's Office?
Under which head is the rupee amount adjusted in the Railway Board's Office?
What is the primary task of the Financial Adviser and Chief Accounts Officer regarding sterling amounts?
What is the primary task of the Financial Adviser and Chief Accounts Officer regarding sterling amounts?
When does the head 'Reserve Bank-Suspense' get cleared?
When does the head 'Reserve Bank-Suspense' get cleared?
What is the ultimate purpose of verifying the amounts with the memo of clearance?
What is the ultimate purpose of verifying the amounts with the memo of clearance?
What transaction type is adjusted by the Railways through the head 'Transfer Railways'?
What transaction type is adjusted by the Railways through the head 'Transfer Railways'?
Who is responsible for settling transactions between the Indian Railways and the Burma Government?
Who is responsible for settling transactions between the Indian Railways and the Burma Government?
What must be classified separately when adjusting transactions with the Burma Government?
What must be classified separately when adjusting transactions with the Burma Government?
What document should be sent to the Accountant General, Burma at the end of the month?
What document should be sent to the Accountant General, Burma at the end of the month?
What action follows the receipt of transfer certificates by the Railway Board?
What action follows the receipt of transfer certificates by the Railway Board?
Which entity sends advice of debits and credits for transactions originating in Burma?
Which entity sends advice of debits and credits for transactions originating in Burma?
What should be done in case of discrepancies in vouchers and bills?
What should be done in case of discrepancies in vouchers and bills?
How should transactions originating in India be categorized?
How should transactions originating in India be categorized?
What must accompany the transfer certificate sent to the Railway Board?
What must accompany the transfer certificate sent to the Railway Board?
Who handles the adjustment of transactions that originate from the Burma Government?
Who handles the adjustment of transactions that originate from the Burma Government?
What is the primary purpose of the correspondence with the Accounting Officers in Burma?
What is the primary purpose of the correspondence with the Accounting Officers in Burma?
What types of payments made in England on behalf of Indian Railways are managed by the High Commissioner?
What types of payments made in England on behalf of Indian Railways are managed by the High Commissioner?
Which of the following items is considered a miscellaneous transaction in relation to dealings with the United Kingdom?
Which of the following items is considered a miscellaneous transaction in relation to dealings with the United Kingdom?
In transactions with Pakistan, what does the monthly schedule provide information about?
In transactions with Pakistan, what does the monthly schedule provide information about?
Which aspect of payments by diplomatic missions abroad is emphasized in the provided content?
Which aspect of payments by diplomatic missions abroad is emphasized in the provided content?
What is required for the financial settlement of transactions with Pakistan?
What is required for the financial settlement of transactions with Pakistan?
What documentation is required to be sent to the Accountant General in Burma at the end of the month?
What documentation is required to be sent to the Accountant General in Burma at the end of the month?
How should transactions originating in India be categorized according to the guidelines?
How should transactions originating in India be categorized according to the guidelines?
What is the time limit for settling accounts related to transactions other than through traffic after receiving the schedule?
What is the time limit for settling accounts related to transactions other than through traffic after receiving the schedule?
Which head is used under the Indian Railways' account for transactions with Pakistan?
Which head is used under the Indian Railways' account for transactions with Pakistan?
What must the Railway Administration do before making payment abroad on behalf of the Railways?
What must the Railway Administration do before making payment abroad on behalf of the Railways?
For payments made in London, which process is NOT necessary?
For payments made in London, which process is NOT necessary?
What is indicated by 'adjustments permissible within two calendar months'?
What is indicated by 'adjustments permissible within two calendar months'?
What role does the Railway Board play after receiving the Statements of Issues and Payments?
What role does the Railway Board play after receiving the Statements of Issues and Payments?
Which head is used by the Railways for adjusting debits and credits advised to them?
Which head is used by the Railways for adjusting debits and credits advised to them?
When does the Railway Board's 'Reserve Bank-Suspense' head get cleared?
When does the Railway Board's 'Reserve Bank-Suspense' head get cleared?
What must happen after the Accountant General, Maharashtra issues the intimation of transactions?
What must happen after the Accountant General, Maharashtra issues the intimation of transactions?
How is the rupee equivalent of sterling transactions for a month adjusted in the Railway accounts?
How is the rupee equivalent of sterling transactions for a month adjusted in the Railway accounts?
What is the purpose of sending a memo of clearance from the Reserve Bank to the Railway Board?
What is the purpose of sending a memo of clearance from the Reserve Bank to the Railway Board?
What does the Accountant General, Maharashtra calculate to notify the Reserve Bank?
What does the Accountant General, Maharashtra calculate to notify the Reserve Bank?
What is impacted by the verification of amounts managed by the Railway Board?
What is impacted by the verification of amounts managed by the Railway Board?
Which document initiates the adjustments between the Railway Board and the Railways?
Which document initiates the adjustments between the Railway Board and the Railways?
What method is recommended for making payments for articles obtained via direct order in America?
What method is recommended for making payments for articles obtained via direct order in America?
Which action should be taken for amounts recoverable in cash by the High Commissioner according to the instructions?
Which action should be taken for amounts recoverable in cash by the High Commissioner according to the instructions?
What procedure must be followed regarding debits raised against the Railway Board for transactions with the United Kingdom?
What procedure must be followed regarding debits raised against the Railway Board for transactions with the United Kingdom?
What should remain unaltered regarding receipts or payments when credited to the general revenues of India?
What should remain unaltered regarding receipts or payments when credited to the general revenues of India?
How should payments for stores obtained f.o.b. basis be processed if the Purchasing officers prefer it?
How should payments for stores obtained f.o.b. basis be processed if the Purchasing officers prefer it?
What is the procedure after receipt of advice regarding recoveries from the Railway Board?
What is the procedure after receipt of advice regarding recoveries from the Railway Board?
What document must accompany the monthly schedules sent to the Railway Board?
What document must accompany the monthly schedules sent to the Railway Board?
What action should be taken when there are discrepancies in vouchers and bills?
What action should be taken when there are discrepancies in vouchers and bills?
When should the Indian Supply mission perform adjustments related to transactions with foreign suppliers?
When should the Indian Supply mission perform adjustments related to transactions with foreign suppliers?
What type of documents should be forwarded to the Accountant General, Burma, at the end of each month?
What type of documents should be forwarded to the Accountant General, Burma, at the end of each month?
Which entity is primarily responsible for preparing a consolidated statement of debits after receiving transfer certificates?
Which entity is primarily responsible for preparing a consolidated statement of debits after receiving transfer certificates?
What is required to accompany the transfer certificate sent to the Railway Board?
What is required to accompany the transfer certificate sent to the Railway Board?
How are transactions originating from the Burma Government adjusted with the Indian Railways?
How are transactions originating from the Burma Government adjusted with the Indian Railways?
What procedure is followed to enhance communication regarding discrepancies in transactions?
What procedure is followed to enhance communication regarding discrepancies in transactions?
What does the Railway Board issue after consolidating transaction debits?
What does the Railway Board issue after consolidating transaction debits?
Which banking entity plays a crucial role in the settlement of transactions between Indian Railways and the Burma Government?
Which banking entity plays a crucial role in the settlement of transactions between Indian Railways and the Burma Government?
What should be included when preparing schedules sent to the Accountant General, Burma?
What should be included when preparing schedules sent to the Accountant General, Burma?
What is established when transactions originate from the Indian Railways and are adjusted with the Burma Government?
What is established when transactions originate from the Indian Railways and are adjusted with the Burma Government?
Flashcards
Railway transactions in the UK
Railway transactions in the UK
Transactions involving payments in the UK for Indian Railways' expenses, such as staff salaries, goods, services, and other miscellaneous items.
Payments by the High Commissioner
Payments by the High Commissioner
Expenses incurred by the High Commissioner in London on behalf of Indian Railways, including staff salaries and allowances.
Payments for stores and miscellaneous services
Payments for stores and miscellaneous services
Expenses incurred by the High Commissioner in London on behalf of Indian Railways for purchases and services.
Provident Fund recoveries
Provident Fund recoveries
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Recoveries of advances
Recoveries of advances
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Inspection charges on stores
Inspection charges on stores
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Miscellaneous items
Miscellaneous items
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Railway Account Adjustment
Railway Account Adjustment
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Statement of Issues and of Payments
Statement of Issues and of Payments
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Transfer Railways
Transfer Railways
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Reserve Bank of India
Reserve Bank of India
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Railway Board
Railway Board
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Accountant General, Maharashtra
Accountant General, Maharashtra
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Transfer Certificate
Transfer Certificate
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Average Rate of Exchange
Average Rate of Exchange
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Verification
Verification
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Settlement of Transactions between Indian Railways and Burma
Settlement of Transactions between Indian Railways and Burma
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Voucher Classification for Burma Transactions
Voucher Classification for Burma Transactions
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Transfer Certificate for Burma Transactions
Transfer Certificate for Burma Transactions
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Railway Board's Role in Burma Transactions
Railway Board's Role in Burma Transactions
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Burma's Transactions with Indian Railways
Burma's Transactions with Indian Railways
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Direct Communication for Transaction Discrepancies
Direct Communication for Transaction Discrepancies
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Indo-Bangladesh Inter-Railway Transactions Settlement
Indo-Bangladesh Inter-Railway Transactions Settlement
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Accounts With Governments Of Other Countries - Bangladesh (Railway)
Accounts With Governments Of Other Countries - Bangladesh (Railway)
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Form A.522 (ii)
Form A.522 (ii)
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Form A.522 (i)
Form A.522 (i)
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Verification of Debits/Credits in Indo-Bangladesh Monetary Accounts
Verification of Debits/Credits in Indo-Bangladesh Monetary Accounts
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Adjusting Debits for Rolling Stock
Adjusting Debits for Rolling Stock
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Railway Board's Role in Bulk Orders
Railway Board's Role in Bulk Orders
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Monthly Transaction Schedules
Monthly Transaction Schedules
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Indian Railway Schedules to Railway Board
Indian Railway Schedules to Railway Board
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Deadline for Transaction Schedules
Deadline for Transaction Schedules
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Destination of Transaction Schedules
Destination of Transaction Schedules
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Monthly Schedule Exchange
Monthly Schedule Exchange
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Content of the Monthly Schedules
Content of the Monthly Schedules
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Transactions with Pakistan Provincial Civil Accountants General
Transactions with Pakistan Provincial Civil Accountants General
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Transactions with Central Government Departments in Pakistan
Transactions with Central Government Departments in Pakistan
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What are payments on account of establishment and services?
What are payments on account of establishment and services?
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What are payments for stores and miscellaneous services?
What are payments for stores and miscellaneous services?
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What are Provident Fund recoveries?
What are Provident Fund recoveries?
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What are recoveries of advances?
What are recoveries of advances?
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What are inspection charges on stores?
What are inspection charges on stores?
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What are railway transactions in the UK?
What are railway transactions in the UK?
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What are miscellaneous items?
What are miscellaneous items?
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L-Suspense and Miscellaneous - Accounts with Government of other countries - Pakistan (Railways)
L-Suspense and Miscellaneous - Accounts with Government of other countries - Pakistan (Railways)
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Inter-Railway Transactions Settlement with Pakistan
Inter-Railway Transactions Settlement with Pakistan
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Railway Board (India)
Railway Board (India)
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Transactions Originating in India
Transactions Originating in India
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Transactions Originating in Burma
Transactions Originating in Burma
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Transfer Certificate for Indian Transactions
Transfer Certificate for Indian Transactions
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Railway Board's Role in Indian Transactions
Railway Board's Role in Indian Transactions
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Direct Purchase of Stores in the USA
Direct Purchase of Stores in the USA
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Direct Payment for F.O.B. Stores
Direct Payment for F.O.B. Stores
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Debiting the Railway Board for UK Transactions
Debiting the Railway Board for UK Transactions
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Recovery of Sums by the High Commissioner
Recovery of Sums by the High Commissioner
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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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Description
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.