Differences between IRCA & IRFA

Differences between IRCA & IRFA transactions

IRCA transactions	IRFA transactions
1. Expand : Indian Railway Conference Association.	1. Expand: Indian Railway Financial Adjustments.
2. Chargeable to : Demand No.09G-740-33	2. Chargeable to Demand No.09G-750-33
3. IRCA is authority for carrying out adjustments among all Zonal Railways.  Debits are raised by Northern Railway on other Zonal Railways based on the advice of IRCA.	3. Zonal Railways are responsible for raising charges on other Railways.
4. Pertaining to Goods Wagons only ( for Pakistan & Bangladesh Rly – All Rolling Stock)	4. Pertaining to Locos (Dsl & Electrical) & Coaches.
5.   A.Charges / Receipts relating to inter charged Stock (Goods wagons only) of Indian Railways-(i) Repairs, (ii) maintenance (iii) Depreciation                     B. Charges relating to Inter-change of all Rolling Stock with Foreign Railways(e.g. Pakistan and Bangla Desh Railways)	5..Will record the receipt / charges on account of adjustments carried out amongst Indian Govt. Railways on account of (i) Repairs, (ii) Maintenance and (iii) Depreciation in respect of rolling stock (other than goods wagons i.e., Locos & Coaches) of one Railway in use on other Railways.
6.Basis for calculation: Wagon balance is the net difference between the ownership and the actual holding of wagons of Zonal Railway.  On a particular day, if a particular Rly holds less number of wagons that it owns on a particular day, it is entitles to hire charges for balance of the Wagons.  Conversely the Rly holding more wagons that its own is liable to pay hire charges for the excess number of Wagons it holds.	6. Basis for calculation: (A) Locos : Debits will be passed on by the owning Railway to the using Railway at the unit cost based on the total engine hour on outage basis (i.e. from the time it leaves from the shed & till it returns to the shed) earned by the engines on the using Railway. (B) Coaches: The credit/debit adjustments should be worked out on the basis of kilometres earned by through rakes/passenger coaches running on more than one railway system. Vehicle kilometres in respect of through coaches should be worked out on the basis of the working time table periods and the rake links.

Note: Codal provisions in respect of IRCA & IRFA -Para 869 of Finance Code vol. One - Click for  Chapter 8th of Finance Code Volume One

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RITES

RITES

Click below for official website of RITES

https://ritesltd.com/

 

·         Incorporated in the year 1974 as a Public limited company under the Companies Act, 1956

·         Full form : Rail India Technical & Economic Service

·         A Government of India Enterprise under the aegis of Indian Railways. Hqrs: Gurgaon, Haryana

·         Multidisciplinary organization of Consultants, Engineers and Project Managers in transport & infrastructure sectors.

·         Offers comprehensive services from concept to commissioning of projects in Railways, Urban transport, Highways, bridges, renewable energy and export packages of rolling stock and railway related equipment.

·         RITES is the nominated agency of Indian Railways for export of rolling stock manufactured at the Production Units of Indian Railways.

·         A Mini Ratna Enterprise, Schedule A, an ISO 9001-2008 company

·         Operational experience of 43 years

·         Global presence -- extended its services in nearly 62 countries

·         Only export arm of Indian Railways for providing rolling stock overseas (other than Thailand, Malaysia and Indonesia).

·         Integrated Check Posts  - RITES has completed these Posts at the borders of neighbouring countries in a first of its kind project in India.   These are the world-class facilities for passenger & cargo movement in similar to Airports. Examples:  Attari check post on India-Pakistan border, Petropole check post on Indo-Bangladesh border, Agartala check post on Indo-Myanmar border.

·         SAIL RITES Bengal Wagon Industry Pvt. Ltd - Joint venture of RITES & SAIL - with the object of setting up of State-of-the-art Wagon factory at Kulti, West Bengal   - Assured off-take by Indian Railways for manufacture of 1200 high end specialized wagons and rehabilitation of 300 wagons per year.

·         Financials -2016-17

v  Profit after tax - 331 Crores

v  Rs.10.34 lakhs  - Profit per employee  (Total employees -3200)

v  Total Income 1509 Crores

v  Share Capital -200 Crores

v  Profit after tax to Share Capital  -  166 %

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Alert - Appendix 3 Examination

Appendix 3 Exam, 2018 notification is likely to be announced by Railway Board in due course.  Be alert, dust off  the books and start preparation.  Early bird catches the worm. 

Note: Heard it through the grapevine. No inquiries please. If announced, the notification is available in the below link.

Accounts Directorate of Railway Board

List of Railway PSUs

Railway PSUs – Public Sector Undertakings & other Orgnizations

SN	PSU	FULL FORM
1	RITES	Rail India Technical & Economic Services ltd
2	IRCON	IRCON International ltd (former name -Indian Railway Construction Company ltd )
3	CRIS	Centre for Railway Information Systems
4	IRFC	Indian Railway Finance Corporation
5	CONCOR	Container Corporation of India ltd
6	KRCL	Konkan Railway Corporation Limited
7	RCIL/RAILTEL	Railtel Corporation of India Limited
8	IRCTC	Indian Railway Catering and Tourism Corporation ltd
9	PRCL	Pipavav Railway Corporation Limited
10	RVNL	Rail Vikas Nigam Limited
11	RLDA	Rail Land Development Authority
12	DFCCIL	Dedicated Freight Corridor Corporation of India Limited
13	MRVC	Mumbai Railway Vikas Corporation ltd
14	BWEL	Bharat Wagon & Engineering Co. Limited
15	BSCL	Burn Standard Company Limited
16	BCL	Braithwaite & Company Limited

70% Exam Question paper, 2018 - SCR

Click below

2018 year 70% Exam question paper - SCR

Answers for Objective type questions in above question paper

Sl.No.	Answer
1	A
2	A
3	D
4	A
5	C
6	D
7	C
8	A
9	D
10	A
11	A
12	C
13	B
14	B
15	C