Step by Step procedure for opening of Drawing and Deposit Account with Accredited Banks. Reconciliation of Banking Transactions in post CSI scenario in Post Offices.
For smooth functioning of financial transactions in Post offices, PAO is authorizing for opening of Drawing and Deposit account in selected accredited banks. The following procedures to be adopted for opening of Drawing and Deposit account.
a) As per the Director (Accounts), PA Wing , New Delhi letter No. PA/BK- 1/11-33/2005(2)/220 to 268 dated 25.04.2008, Post office is authorized to open Drawing and Deposit account in the name of Director of Accounts (Postal) in accredited banks which is authorized by RBI. In all the states, State Bank of India is one of the accredited bank and two other nationalised banks are authorized for this purpose.
b) The annual limit of cash turnover is Rs.40 lakhs per annum.
c) Annexure ‘7A” and “B” in quadruplicate along with concurrence letter issued by the bank branch in which HO/SO is willing to open the Drawing and Deposit account to be forwarded to PAO duly countersigned by Divisional head and Regional head.
d) All the documents duly countersigned by Director of Accounts(Postal) to be forwarded to Corporate office of the bank concerned for issue of authorization.
e) On receipt of authorization, PAO will issue authority letter to Divisional head to’open Drawing and Deposit account. The account should be opened in the name the Head Postmaster to be operated by Sub Postmaster.
f) Two separate accounts exclusively for drawings and deposit should be opened and transaction should be made in the concerned account only.
g) For cheque books, Pos have to place indent to PAO only and Cheques issued by PAO should be brought into use. Cheques received from any other source should not be used by Post offices.
h) Under no circumstances, permission for opening of current account is allowed and if there is’any, it should be closed immediately.
i) Post office should ensure that all drawings from bank transactions should be incorporated in the bank payment scroll and all the remittance to bank transactions should be incorporated in the receipt scroll. In case of any omissions/discrepancies, the same should be immediately brought into the notice of bank concerned.
j) pairing and reconciliation should be carried out by DDOs only with the support of bank scrolls.
In CSI scenario, bank reconciliation work is to be carried out by DDOs only in T code FF 67 and FEBAN. After reconciliation, all the cleared items will be shown in green colour in SAP. Post master should ensure that all the items should be in green colour at the end of the following month.
