Circle Working Committee Members of AIPSBCOEA Kerala.

Circle Working Committee

Circle  President: Leo Michael K.C

                           PA SBCO Cherthala HPO

Vice President   :1. P.K Sreedharan

Supervisor Thirur HPO

       2. K Indira

 PA SBCO Kochi HPO

       3. M.R Raghavan

 Kozhikode HPO

Circle  Secretary: Girish Sekharan

                          PA SBCO Irinajalakuda HPO

Asst. Circle Secretary: 1. Ashif Rahman Ottapalam HPO

                                     2. Nisha K J , Kannur HPO

                                     3. Arun Nath, Kanjirapally HPO

                                     4. Dhanoop Krishna, Olavakkode HPO

Financial Secretary: Jeethendradas V

                              PA SBCO Alathur HPO

Asst. Financial Secretary: Arun P, Thaliparamba HPO

Organization Secretary:  1. Sibiraj B.S, Cherthala HPO

                                        2. Arun K.S, Changanachery HPO

                                        3. Shameera A.S, Attingal HPO

                                   

Waiting For Post Bank

After failing to receive a full-fledged banking licence from the Reserve Bank of India (RBI) last year, the department of post is gearing up for a second innings.

Now, India Post is looking to set up a payments bank and is expected to put in fresh application, sources with direct knowledge of the matter said.

“India Post may look at setting up a payments bank for which it will have to apply again, after which the RBI will go through its own process to assess whether or not it is eligible,” a senior government official told HT. The exercise could take a while, he added.

A payments bank can accept deposits and remit but cannot lend. The move would help in deepening the financial inclusion programme, sources added.  The government is grappling with the problem to delink post office savings deposits from its fiscal deficit management programme.

Interest rates on post office savings are administered by the government, unlikecommercial banks, where interest rates are market determined.

If post offices are converted into banks, they will have to offer competitive interest ratesto depositors. Besides it remains to be seen whether all bank deposits are offered tax treatment, similar to post office savings, once the postal department is given a bankinglicence.

While the RBI did not grant a banking licence to India Post earlier this year, it said that the postal department and the government should look at the issue separately.

The department, for the last few years, has remained in the red due to high operational costs. It has been losing business due to competition from private couriers, usage of mobile telephony and Internet. However, it has over 150,000 branches across India and most of them are in rural areas.

PROCESS ORIENTED – NATURE OF WORK IN SBCO BRANCH

PROCESS ORIENTED – NATURE OF WORK IN SBCO BRANCH

SL	NATURE OF WORK	POSB – VOL –IV -RULE
1	Receipt of Returns	Rule -3
2	Checking List of Transactions  [SB -60/76]	Rule – 4
3.a 3.b	Will follow items Un-posted Items	POSB Rule: 45 Rule – 6
4	Register of Non-cash transactions SB-62 [a]/85 [a]	Rule – 7
5	Register of Office wise [SB-63/RD85]	Rule – 8 & 10
6	Consolidated Journal [SB-72/86]	Rule – 9
7	General check of vouchers & checking of vouchers	Rule – 11 & 15
8	Checking of Non-cash Transactions	Rule – 12
9	Revival of Accounts pre to 01.01.2003	Rule – 12 [3]
10	Objection Register	Rule – 13
11	Reporting of Minus balance	Rule – 13 [2]
12	Verification of binder balances	Rule – 14
13	Checking of Annual Interest	Rule – 16
14	Preparation of Interest cum Silent Accounts SB/NSS/PPF	Rule – 16
14.a	Annual Listing balances RD/MIS/TD/SCSS	Rule - 39
15	Silent Account Revised Procedure	Rule – 17 – 3
16	Un-used Cheque Foils	Rule – 18
17	Un-deliverable & spoilt Pass books	Rule – 19
18	Statistical Register	Rule – 20
19	Custody and preservation of records	Rule – 25
20	Monthly Progress Report	Rule -  26
21	Checking of Agents Commission bill
22	Submission of returns to AO & DAP	Rule – 21

MAINTENANCEOF REGISTERS IN SBCO

SL	TYPE OF CATEGORIES	NAME OF REGISTER
1	SB/NSS/PPF	SB-63 – OFFICEWISE SB-62a – Non-cash Register
2	RD/TD/MIS/SCSS	SB-85 – OFFICEWISE SB-85a – Non-cash Register

    GENERAL CHECK OF VOUCHERS & VOUCHER CHECKING FOR HO

SL	CATEGORY	GENERAL CHECK	% CHECK WITH LEDGER
1	SB	All Vouchers	4% Deposit check 10% Withdrawal [Compulsory above Rs.5000/=] 20% of closed accounts
2	RD	All vouchers	4% of deposit transactions All vouchers of withdrawals, closures, refund of interest, interest recovered on defaulted installments or on withdrawals repaid and rebate paid on advance deposits
3	MIS	All vouchers	a.4% of deposit transactions b. All vouchers of premature and final closures. c. 10% vouchers of monthly payment of interest
4	TD	All vouchers	a.                   4% of deposit transactions b.                  20% of vouchers relating to payment of annual interest c. Warrant of payments of 20% of closed accounts of heavy amounts.
5	PPF	All Vouchers	a. 4% of deposit transactions. b. All vouchers relating to loans, withdrawals, interest recovered on loans and final closures
6	NSS 87/92	All vouchers	a. Warrant of payments of 20% of closed accounts of heavy amounts. b. All withdrawals above Rs.5000/=
7	SCSS	All vouchers	a. All vouchers of premature and final closures. (b) 10% of vouchers of monthly payment of interest.  (c) 4% of deposit transactions.   (d) The amount of Interest calculated for new accounts with reference to interest rate to ensure correctness.

GENERAL CHECK OF VOUCHERS &VOUCHER CHECKING FOR SUB OFFICES

SL	CATEGORY	GENERAL CHECK	% CHECK WITH LEDGER
1	SB	All Vouchers	4% Deposit check 10% Withdrawal [Compulsory above Rs.5000/=] 20% of closed accounts
2	RD	All vouchers	All Closures with passbook  in r/o sub offices B & C class w.e.f  15.02.2008
3	MIS	All vouchers	All Closures with passbook  in r/o sub offices B & C class w.e.f  15.02.2008
4	TD	All vouchers	c.                   4% of deposit transactions d.                  20% of vouchers relating to payment of annual interest c. Warrant of payments of 20%  of closed accounts of heavy amounts.
5	PPF	All Vouchers	a. 4% of deposit transactions. b. All vouchers relating to loans, withdrawals, interest recovered on loans and final closures
6	NSS 87/92	All vouchers	a. Warrant of payments of 20% of closed accounts of heavy amounts. b. All withdrawals above Rs.5000/=
7	SCSS	All vouchers	All Closures with passbook  in r/o sub offices B & C class w.e.f  15.02.2008

[D.G Posts letter No. 5-2/99-SB dated 5.3.2003]

CHECKING OF ANNUAL INTEREST

SL	Name of Scheme	Revised checks
1	SB	20% checks for all schemes  where calculations are done manually and  5% where calculations are done on computers.
2	PPF/NSS-87/92	- DO -

VERIFICATIONS OF BALANCES

SL	Name of Scheme	Cut of Month
1	SB/ PPF/NSS-87/92	Once in six months – as on 30th Sept & 31st March
2	TD/MIS/SCSS	Once in six months – as on 30th June & 31st Dec

VERIFICATION OF BALANCES RD CATEGORY

The sub office will prepare six monthly lists of balances as on the dates fixed for the agreement and intimated by the Head office

The verification of balances of an office should be completed in all respects by the end of second month following the month as on which the agreement is to be conducted.

On receipt of list of balances from the sub office, the SBCO will take action to verify the balances as prescribed in letter No: 113-1/2003-SB dated 05.05.2003 and complete the verification by the end of the month

Due date of        Offices to be agreed        No of         Total no of accounts

Agreement         Sl        Name of the          account     to be agreed during

                           No      office                                       the month

31^st January

31^st July

28^th February

31^st August

30^th April