RBI/2016-17/249
DGBA.GAD.No. 2376/42.01.029/2016-17
March
16, 2017
All Agency Banks
Dear Sir / Madam,
Reporting and Accounting of
Central Government Transactions of March 2017
Please refer to Circular
DGBA.GAD.No.2968/42.01.029/2015-16 dated March 17, 2016 advising the
procedure to be followed for reporting and accounting of Central Government
transactions (including CBDT, CBEC, departmentalised ministries and
non-Civil Ministries) at the Receiving/Nodal/Focal Point branches of your
bank for the Financial Year 2015-16.
2. The Government of India has
decided that the date of closure of residual transactions for the month of
March 2017 be fixed as April 10, 2017 for the Financial Year 2016-17. In
view of the ensuing closing of government accounts for the financial year
2016-17, receiving branches including those not situated locally, should
adopt special arrangements such as courier service etc., for passing on
challans/scrolls etc., to the Nodal/Focal Point branches so that all payments
and collections made on behalf of government towards the end of March are
accounted for in the same financial year. These instructions regarding
special messenger arrangements may please be informed to all branches
concerned.
3. As regards reporting of March
2017 transactions by Nodal/Focal Point branches in April, the branches may
be advised to follow the procedure as outlined in the Annex. To sum
up, the Nodal/Focal Point branches will be required to prepare separate
sets of scrolls, one pertaining to March residual transactions and another
for April transactions during the first 10 days of April 2017. The
Nodal/Focal Point branches should also ensure that the accounts for all
transactions (revenues/tax collections/payments) are effected at the
receiving branches up to March 31, 2017 in the accounts for the current
financial year itself and are not mixed up with the transactions of April
2017. Also, while reporting transactions pertaining to March 2017 up to
April 10, 2017, the transactions of April 2017 should not be mixed up with
the residual transactions relating to March 2017.
4. Kindly issue necessary
instructions in the matter to your branches concerned immediately.
Yours faithfully
(Partha Choudhuri)
General Manager
Encl: As above
ANNEX
Reporting of March Transactions
Beginning from April 1, 2017,
the Nodal/Focal Point branches will segregate on a daily basis all
scrolls/challans pertaining to March 2017 received from the receiving
branches concerned and prepare separate main scrolls for:
a.
scrolls
for transactions of March 2017 or earlier period (i.e. effected during the
previous financial year 2016-17) and
b.
scrolls
pertaining to current transactions (i.e. those effected from April 1, 2017
onwards).
2. The main scrolls for March
2017 transactions prepared from April 1 to April 10, 2017 are to be
distinctly marked as March Residual - 1, March Residual - 2 and so on upto
April 10, 2017. In other words, serial number should be allotted in
consecutive order for each main scroll of March 2017 transactions sent from
April 1 to April 10, 2017. These scrolls alongwith the copies of daily
summary of Receipts and Payments prepared separately for March 2017
transactions will be forwarded to the Departmental Officials concerned
(i.e. Zonal Accounts Officers/Pay and Accounts Officers and Designated
Officers) in the usual way. The Nodal/Focal Point branches will also be
required to report the above transactions to the Link Cell through separate
Daily Memos. These advices must be sent to enable the Link Cell of each
bank at Nagpur, to make daily settlement with Reserve Bank of India,
Central Accounts Section (CAS) Nagpur. On receipt of advices from the
Nodal/Focal Point branches, the Link Cell should segregate the advices for the
March Residual transactions and forward them separately to Reserve Bank of
India, CAS, Nagpur. This procedure should continue upto and inclusive of
April 10, 2017 only. All transactions reported thereafter by the receiving
branches will be reported and accounted for in the usual manner in the
accounts of the month of report irrespective of the date of transaction.
Following the special arrangements for March 2017 transactions, it is
necessary for the Nodal/Focal Point branches to prepare two sets of DMS to
be submitted to Zonal Accounts Officers/Pay and Accounts Officers for March
2017 transactions - one for transactions upto March 31, 2017 and another
for March Residual Transactions adjusted by Nodal/Focal Point branches with
Reserve Bank of India, Central Accounts Section, Nagpur, during April 1 to
April 10, 2017.
Since the Nodal/Focal Point
branch will also be reporting the April 2017 transactions pertaining to
year 2017-18 in addition to March Residual transactions, monthly statement
for April transactions should be compiled and furnished to Zonal Accounts
Officers/Pay and Accounts Officers in the usual way. In order to
distinguish the April 2017 (year 2017-18) and March Residual Transactions,
the statement pertaining to March Residual Transactions should be clearly
marked as "March Residual Account".
Note: As advised in our circular
GA.NB.No.376/42.01.001/1995-96 dated May 22, 1996 all the cheques/amounts
realized on or before March 31, 2017 should be treated as transactions
relating to the current financial year as "March 2017 or March
Residual Transactions", the reporting of which may take place during
the month of April (upto April 10, 2017). But if any cheque is tendered on
or before March 31, 2017 and realized on or after April 1, 2017, it will be
treated as transaction for the next financial year as "April
Transactions". Accordingly, the banks will prepare separate scrolls
for March 2017 and April 2017 (year 2017-18) transactions.
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