Railway Budget

Railway budget preparation from Nageswara Rao M

PSB Suspense

PSB SUSPENSE (Public Sector Bank Suspense)

v  It is a new sub head under Major Head 8658 - Suspense Accounts introduced w.e.f October, 1993.

v  Object: to watch the adjustments of Railway transactions in the Banks (both Debit and Credit) - except Pension payments.

v  It is operated for clearance of Cheques & Bills suspense head and RIB-Remittance Into Bank suspense head.

 Cheques & Bills  and PSB Suspense

v  When Individual cheques are encashed: Public Sector Bank branches forward (through their Focal Point branch) daily main scrolls accounting for individual cheques encashed.  After verification of the statement received from focal point branch, the DMS-Date wise Monthly Statement, the amount there of will be adjusted in the accounts as under:

Date	Particulars	Debit (Rs)	Credit(Rs)
	Cheques & Bills A/c		(-) 100
	PSB Suspense A/c		100

v  When the PSBs adjust the amount of payment of encashed cheques against with RBI:

Date	Particulars	Debit (Rs)	Credit(Rs)
	PSB Suspense A/c		(-) 100
	Deposits with RBI A/c		100

v  Thus the PSB Suspense head in respect of cheques encashed will be cleared thus.

v  Similar way, the operation of PSB Suspense head is operated in respect of clearance of RIB-Remittance Into Bank.  This is shown as below.

RIB-Remittance Into Bank and PSB Suspense

v  When accounted receipts through TR-Treasury Remittance notes:  Public Sector Bank branches forward (through their Focal Point branch) daily main scrolls accounting for receipt of TR Notes.  After verification of the statement received from focal point branch, the DMS-Date wise Monthly Statement, the amount there of will be adjusted in the accounts as under:

Date	Particulars	Debit (Rs)	Credit(Rs)
	Remittance Into Bank (RIB) A/c	(-) 100
	PSB Suspense A/c	100

v  When the PSBs adjust the amount of receipts against TR-Treasury Remittance notes with RBI:

Date	Particulars	Debit (Rs)	Credit(Rs)
	PSB Suspense A/c	(-) 100
	Deposits with RBI A/c	100

v  Thus the PSB Suspense head in respect of T.R.Notes will be cleared thus.

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TENDER DOCUMENTS/CONTRACT DOCUMENTS

TENDER DOCUMENTS/CONTRACT DOCUMENTS

1.  Tender Notice

2.  Tender Schedule

3.  G.C.C – General Conditions of Contract

      ( 65 clauses)

4.  Specifications/Drawings/Samples

5.  Special conditions

6.  Schedule of Rates

7.  LOA – Letter of Acceptance

8.  Agreement

9.   Subsidiary Agreement, if any.

10.                   Termination notice, if any.

Accounts Code II - Revised (for Traffic)

After 30 years , Indian Railways Accounts Code Part 2 (deals with rules and procedures of  accountal of Traffic Receipts) has been revised and published by Railway Board on 30.08.2016.

Click here for Accounts Code Part Two 

(useful for candidates who opt for Traffic Accounts)

Accounts Code Part Two 

PDF version of Accounts code Part II

Social Service obligations - NITI Aayog report

Very analytical review of Indian Railways by NITI Aayog 
(20 pages Report)
 Click here

NITI Aayog report