Railway Accounts Department Examinations

Showing posts with label CinT. Show all posts
Showing posts with label CinT. Show all posts

Monday, January 31, 2022

Cash in Transit

 Cash in Transit (CinT)

    • Station cash received in Cash Office after one or two days of the following month

    • and after the closing of the General Books is called Cash in Transit. 


    • Stations take credit in their Balance Sheets in the month in which Cash is realized,

    • but the same is not accounted for in the General Books due to delayed receipt in Cash Office.     


    • Example: Station Cash (accounted on 31st December 2021 in Station Balance Sheet)

    • received in the Cash Office on 3rd January 2022 after closing of the General Books of December 2021. 

    The following are the initiatives to minimize or Nil in Cash in Transit: 

    1. Single Deposit Pooling Account “ Rail Shakti Account” - Operated by SBI at Focal Point Branch (FPB)

    2. to facilitate the remittance of Railway Earnings by Stations to nearby SBI branches without opening a Railway Deposit Account.  

    1. The said SBI branches will credit the amount instantly to FPB on a daily basis. 

    1. FPB will provide a Daily scroll incorporating all such details to PFA Office.  

    1. DSB - Door Step Banking was introduced in almost all the Zonal Railways.