SBCO AT A
GLANCE
INTRODUCTION
Preamble:— Before the
take over of S.B. control work from Audit, the branch audit offices used to
maintain duplicate Savings Bank ledger card in respect of every S.B. account in
addition to the ledgers maintained in the Head Post Offices. Irregularities and
discrepancies noticed by them at the time of posting the transactions in the
ledger cards from the savings bank returns received from head post offices used
to be taken up with the head offices in the form of lengthy objection
statements. The interest used to be calculated by the audit and sent to Head
Offices in the form of interest statement in the middle of June every year. It
was then posted in the ledgers and thereafter the pass books were called for
the entry of interest in them. The entire procedure meant a check by a remote
office on the transactions and the procedure entailed duplication and delay. It
was, therefore, felt necessary to set up a local departmental machinery for
ensuring an on the spot check on the maintenance of ledger accounts in head
offices and ensure their correct maintenance. The P&T Board decided in 1960
to take over the SB control work from the A.G. P&T and abolish the
duplicate ledger cards maintained in branch audit offices. The approval of the
A.G. P&T, C. A. G. and Ministry of Finance was also obtained. The scheme
was first tried on an experimental basis in 5 Head Offices w.e.f. 1.1.1961. The
experience then gained showed that the new system was workable and was in the
interest of efficiency and economy. The scheme was then extended to all Head
Offices in a phased program. The work was taken over in phases and last phase
completed on 1-10-1965. The C.T.D. control work was also taken from the audit
offices in phases w.e.f. 1.4.1966 and the last phase completed on 1.7.1976.
Thereafter the pairing work of SB accounts on transfer was also taken from the
A.G. P&T w.e.f. 1.2.1973 and entrusted to Pairing Organisation set up in
each Circle.
Setting
up of Control Organisation:—The Savings Bank accounts of the depositors
are maintained in the ledger cards by the SB Branch of the Head Post Office.
The deposit/withdrawal transactions as and when made by the depositor are
posted in the ledger card and balance is worked out after each transaction. The
ledger cards are kept in binders for the sake of convenient handling and
accounting. Each binder contains 300 ledger cards. The control accounts of
these binders i.e, binder-wise and office-wise balances of these accounts, are maintained
by a separate Organisation named as Savings Bank Control Organisation set up in
each Head Post Office.
Control
Organisation — Organisation and significance :— The Savings Bank Control Organisation has
been set up in each Head Post Office to maintain control accounts of Savings
bank and carry out day-to day checks of the work done by the SB Branch. The
Control Organisation consists of Supervisor and Postal Assistants. The
Senior Postal Assistants are required to do the work of checking of vouchers,
cash and non-cash transactions, verification of binder balances, checking of
interest calculation, revival of silent accounts, etc. The Junior Postal
Assistants do only posting and listing work in the various control registers.
This Organisation is under the administrative control of the Senior
Superintendents/Superintendents of Post offices/Gazetted Postmasters and
functionally responsible to these authorities. The Organisation has a very
important role in respect of Savings Bank operations. Unless the performance of
this Organisation is efficient, the working of Savings Bank Branch will suffer
and frauds may be facilitated.
Functions of Control
Organisation :—
· The main functions
of the Control Organisation are as under :-
· To maintain control
accounts of all the Savings Banks Schemes.
· To carry out
percentage checks of vouchers and other items of work.
· To verify binder
ledger balances periodically.
· To keep in its safe
custody important records such as vouchers,
· undelivered pass
books, list of transactions, silent accounts lists,
· Interest cum silent
accounts statements, various control registers,
etc.
· To check annual
calculation of interest in SB/PPF/NSS accounts.
· Preparation of
annual interest and silent accounts statements.
· To submit periodical
returns to various authorities such as Postal
· Accounts Office,
Divisional Office, Circle Office and Internal Check
· Organisation (SB).
Relation
of Control Organisation with the Postal Accounts Office and Audit:—
After
the take over of control accounts from the erstwhile audit and accounts offices
the Control Organisation is now required to submit a monthly statement
containing statistics of number of accounts, transactions, balances, etc. at
the close of the month to the Postal Accounts Office. In the Postal Accounts
Offices these statistics are consolidated for all the Head Offices in the
Circle in order to arrive at the final closing balance of the Circle at the
end of each month. The consolidated statistics of deposits,
withdrawals and closing balance under each category of accounts are intimated
by the Postal Accounts Office to the Directorate by the due date.
The
Control Organisation is not required now to submit any return to the audit
office. This Unit is, however, inspected periodically by the audit party.
Pairing
Organisation :—A Pairing Unit in each Circle and one Central Pairing Office has
been set up in New Delhi Postal Circle New Delhi Delhi Postal Circle Base Circle
The
Staff of the Circle Pairing Unit and Central Pairing Office consists of
Supervisor and Postal Assistants. The main function of Pairing Units/Office is
to compare the debit and credit items of Transfer from one Head Office to
another in order to check frauds in wrong opening of accounts with higher
balance in the transferee head office. These Units are inspected in detail by
the Accounts Officer, ICO (SB) once a year in addition to the routine
weekly/monthly checks which are carried out by him. The units are also
inspected by the audit party periodically.
Internal
Check Organisation (SB) : — (1) The Internal Check Organisation
(SB) is an effective inspecting organisation for the inspection of the S.B.
Branch of Head Post Offices and Control Organisation. It has been set up in
each Postal Circle
· To see that the staff of the Head
Post Offices and the Control Organisation carry out their functions as
prescribed in the rules and orders issued from time to time.
· To see that the
prescribed checks by the Control Organisation on the day-to-
· day functioning of
the Head Office are carried out properly.
· To see that the
registers of binder balances are maintained properly.
· To see that the
various registers and documents prescribed to be maintained by the Control
Organisation are being properly and regularly
maintained.
· To see that the
pending objections are settled without any abnormal delay.
· To review the
objections pending over three months in order
Composition and Functions of SBCO
Duties of Supervisor
1. Supervision
over the staff of the Control Organisation.
2. Distribution
of work among the start
3. To ensure that the sta ff performs the
duties properly as prescribed in these
rules and orders issued from
time to
time.
4. To
perform the duties specifically assigned to him in these rules and in the
orders issued from time to time.
5. To
ensure that the periodical returns are sent by due dates.
6. To
maintain Nominal Roll (MS-12) [Annexure I] in respect of staff of the SBCO and
put up the Roll once a week to the Postmaster for check.
Duties of Postal Assistant
1. Examination
of the lists of transactions.
2. Maintenance
of register SB-62, SB62(a) and SB-63.
3. Preparation
of the list of binder balances for verification.
4. General
check of vouchers. .
5. Checking
of H.O. and S.O. transactions.
6. Checking
of non-cash transactions and entries in the register SB-62.
7. Verification
of binder balances.
8. Making
entries in the consolidated journal (SB-72) and checking the
daily
and
progressive totals of different columns.
9. Any
other work which may be entrusted to him by the Supervisor and also in the
orders issued from time to time.
The P.A. will maintain various registers as prescribed from
time-to time for the above mentioned items of work. hi respect of objections
raised by him he should ensure that the wanting information is furnished and
satisfactory replies are given by the S.B. branch in time.
Distribution of work:- The Supervisor will prepare the
Memo of distribution of work among himself and Postal Assistants and send it to
the A.O. ICO(SB) for approval. After it is approved by the A.O., it will be
followed rigidly by the staff and the Memo will be kept in a file in the
personal custody of the Supervisor. Any change found necessary thereafter will
also require approval of the Accounts Officer.
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