Reconciliation of Relief / Savings Bond - Appendix IV Statements - RBI - Reserve Bank of India
Reconciliation of Relief / Savings Bond - Appendix IV Statements
RBI/2004/244| June 15, 2004
The General Manager Dear Sir, Reconciliation of Relief / Savings Bond – Appendix IV Statements In terms of paragraph 1.7 of Memorandum of Procedure (MOP), the designated branches of Agency banks should submit a statement showing the amount of subscription received and the Bond Ledger Accounts opened in their books during the month in Part A - Appendix IV on a monthly basis to the PDO of jurisdiction and to their controlling office. 2. It is observed that the agency banks are submitting through their Link Cells at Nagpur (in case of State Bank of India through its Main branch, Kingsway, Nagpur) the Appendix IV statements promptly to Central Accounts Section (CAS), Nagpur for settlement of brokerage claims in the light of instructions contained in our letter No.CO.DT.13.01.272/H-2906/2002-03 dated February 26, 2003. However, the Appendix IV statements are either not submitted within the stipulated time or reported incorrectly to the PDO of jurisdiction by the branches of agency banks resulting in protracted correspondences by the PDOs with agency bank branches/link offices/CAS, Nagpur and non-reconciliation of figures related to subscription amount and bonds issued in respect of various Relief Bond / Savings Bond Schemes. 3. In order to facilitate reconciliation of subscription amount received and remitted to Government of India and related bonds issued, it has been decided that the Link Cells of Agency banks at Nagpur / the Main branch of SBI at Nagpur, should sort the branch-wise data of the Appendix IV according to branches falling within the jurisdiction of a particular Public Debt Office and should submit Appendix IV statement in respect of all branches on a monthly basis in soft and hard copy to the Public Debt Office of jurisdiction besides submission of the above statement to CAS, Nagpur for the purpose of claiming brokerage / commission. Henceforth, the agency bank branches should discontinue sending Appendix IV directly to PDO of jurisdiction.
Yours faithfully, (B.B.Sangma)
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