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FUNCTION OF SBCO - PROCESS ORIENTED

FUNCTION OF SBCO - PROCESS ORIENTED. SCSS. Control Procedure:. General:- The SBCO including checking of vouchers etc. prescribed for MIS accounts will be followed for Senior Citizen Savings Scheme account. 

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FUNCTION OF SBCO - PROCESS ORIENTED

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  1. FUNCTION OF SBCO- PROCESS ORIENTED SCSS

  2. Control Procedure: • General:- The SBCO including checking of vouchers etc. prescribed for MIS accounts will be followed for Senior Citizen Savings Scheme account.  • Maintenance of SB-85 Register: In Head Office where SCSS work has been computerized; the SBCO will maintain SB-85 register. .

  3. VERIFICATIONS OF BALANCES • Once in six months – • On 30th June • & 31st Dec

  4. Verification of balances:- The verification will be done in the following manner. • For accounts in HO, balances will be listed by the SBCO account wise. • The balances in the register SB-85 will be arrived at by adding the total credits to and deducting the total debits till the end of the month up to which transactions have been included in the list of balances from the opening balance of the month.

  5. The closing balance should agree with that shown in the list. • Postal Assistant (SBCO) will write "Agreed" in the list under his dated signature. • The list will then be placed before the Supervisor. • The Supervisor (SBCO) will verify and note it in the ledger verification check sheet under his dated initials. • The sub offices shall prepare half yearly list of balance. • The list shall be sent to HO and shall be received by the SBCO from the Postmaster.

  6. Balances in SBCO Register SB-85 shall be worked out in the same manner as for HO and agreed with the closing balance of the office as per the list.  • If the two lists of balances differ, P.A shall write to the sub offices with ledger number and two sets of balances in the ledger discrepancy register. • Action shall than be taken to reconcile the discrepancy and to have to two sets of balances reconcile.

  7. THANK YOU

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