Railway Accounts Department Examinations

Saturday, July 4, 2020

Abbreviations / Acronyms in Indian Railways

SN

Abbreviation/

Acronym

Expansion

1

AC

Alternating Current, Air conditioned

2

AAC

Anticipated Annual Consumption

3

ACD

Anti-Collision Device

4

ACP

Alarm Chain Pulling

5

AFRES 

(Not in operation)

Advanced Finance Railway Earnings & Expenditure System

6

ARMV

Accident Relief Medical Van

7

ART

Accident Relief Train


9

AT welding

Alumino-Thermit welding

10

ATAS

Alternate Train Accommodation Scheme

11

AVCs

 Avenue charts

12

BFR

Bogie Flat for Rails

13

BG

Broad Gauge

14

BOT

Build, Operate & Transfer

15

BPAC

Block Proving by Axle Counter

16

CAP.

Capital

17

CBC

Centre Buffer Coupler

18

CC

Closed Circuit

19

CGA

Controller General of Accounts

20

COD

Commercial Operation Date

21

COFMOW

Central Organisation For Modernisation Of Workshops

22

CONCERT

COuntry wide Network of Computerized Enhanced Reservation & Ticketing.

23

CONCOR

CONtainer CORporation of India Ltd

24

CORE

Central Orgnisation for Railway Electrification

25

CPOH

Central Periodical Over Hauling

26

Cr

Crores

27

CRF

Capital Recovery Factor

28

CRR

Centre for Railway Research ( at IIT/Kharagpur)

29

CSR

Corporate Social Responsibility

30

CTARA

Centralized Training Academy for Railway Accounts

31

DBFOT

Design, Built, Finance, Operate & Transfer

32

DEMU

Diesel Electric Multiple Unit

33

DF

Development Fund

34

DFC

Dedicated Freight Corridor

35

DGS&D

Director General of Supplies & Disposables

36

DHR

Dargeeling Himalayan Railways

37

DMRC

Delhi Metro Rail Corporation

38

DMU

Diesel Multiple Unit

39

DMW

Diesel loco Modernisation Works

40

DRF

Depreciation Reserve Fund

41

DRM

Divisional Railway Manager

42

EBR

Extra Budgetary Resources

43

EBR(IF)

Extra Budgetary Resources (Institutional Finance)

44

EBR(PPP)

Extra Budgetary Resources (Public Private Partnership)

45

EMU

Electrical Multiple Unit

46

EOL

Engine On Load

47

EPC

Engineering Procurement & Construction

48

ETKM

Equated Train Kilo Metres

49

FB welding

Flash Butt welding

50

FIRR

Financial Internal Rate of Return

51

FLS

Final Location Survey

52

FRBM

Fiscal Responsibilities & Budget Management (act)

53

FSN

Fast, Slow & Non-moving

54

FWU

Four-wheeler Units

55

G&SR

General & Subsidiary Rules

56

GAAR

General Anti-Avoidance Rules (w.e.f 01.04.2016)

57

GASAB

Government Accounting Standards Advisory Board

58

GB

Green Book

59

GM

General Manager

60

GPS

Global Positioning System

61

GSP

Generalised System of Preferences

62

GTKMs

Gross Tonne Kilometres

63

HMR

Hyderabad Metro Rail

64

HOD

Head of Department

65

Hq.

Headquarter

66

HSR

High Speed Rail

67

IAS

International Accounting Standards

68

ICD

Inland Container Depot

69

ICF

Integral Coach Factory

70

ICMS

Integrated Coaching Management System

71

IFRS

International Financial Reporting Standards

72

IGAS

Indian Government Accounting Standards

73

IND AS

Indian Accounting Standards

74

IOH

Intermediate Over Haul

75

IPS

Integrated Power Supply

76

IR

Indian Railways

77

IRCA

Indian Railways Conference Association

78

IRCOT

Indian Railways Central Organisation for Telecom

79

IRFA

Indian Railway Financial Adjustments

80

IRISET

Indian Railway Institute for Signal Engineering& Telecommunication

81

IRR

Internal Rate of Return

82

IRS

Indian Railway Standards

83

IRSDC

Indian Railway Station Development Corporation

84

ISD

Indian Stores Department

85

IT

Information Technology

86

IVRS

Interactive Voice Response System

87

KMRCL

Kolkata Metro Rail Corporation Ltd

88

LAN

Local Area Network

89

LC gate

Level Crossing Gate

90

LHS

Limited Height Subway

91

LV

Last Vehicle

92

LWR

Long Welded Rails

93

M&P

Machinery & Plant

94

MACLS

Multiple Aspect colour light signaling

95

MEMU

Mainline Electric Multiple Unit

96

MFC

Multi Functional Complex

97

MG

Metre Gauge

98

MMTS

Multi Modal Transport System

99

MMU

Mobile Mechanised Units

100

MPLAD

Member of Parliament Local Area Development

101

MRTS

Mass Rapid Transit System

102

MRV

Medical Relief Van

103

MRVC

Mumbai Rail vikas Corporation

104

MTRC

Mobile Train Radio Communication

105

MUTP

Mumbai Urban Transport Project

106

NBFC

Non Banking Financial Corporation

107

NCR

North Central Railway

108

NG

Narrow Gauge

109

NRUCC

National Railway Users Consultative Council

110

NRVY

National Rail vikas Yojana

111

NTES

National Train Enquiry System

112

NTXR

Neutral Train Examiner

113

O & M charges

Operations & Maintenance charges

114

OBHS

On Board Housekeeping Services

115

OFC

Optical Fibre Cable

116

OHE

Over-head Equipment

117

PB

Pink Book

118

PETS

Preliminary Engineering Cum Traffic Survey

119

PFT

Private Freight Terminal

120

PIS

Passenger Information System

121

POL

Petrolium, Oil & Lubricants

122

ppm

Parts per Million

123

PRCL

Pipavav Railway Corporation Ltd.

124

PRIME

Payroll and Related Independent Modules

125

PSC sleepers

Pre-stressed Concrete Sleepers

126

PSC sleepers

Pre Stressed Concrete sleepers

127

R&D

Research & Development

128

R3i

Railway's  Infrastructure for Industry Initiative

129

RAR

Revenue Allocation Register

130

RCC

Railway Convention Committee

131

RCF

Rail Coach Factory

132

RCIL

Railtel Corporation of India Ltd.

133

RCRV

Rail Cum Road Vehicle

134

RDSO

Research Design and Standards Organization

135

Rev.

Revenue

136

RFP

Request For Proposal

137

RFQ

Request For Quotation

138

RFTP

Request For Technical Proposal

139

RKms

Route Kilometers

140

RLDA

Rail Land Development Authority

141

RMS

Rake Management System

142

ROB/RUB

Road over bridge/Road under bridge

143

ROH

Routine Overhaul

144

RPF

Railway Protection Force

145

RRB

Railway Recruitment Board

146

RRI

Route Relay Interlocking

147

RRTS

Regional Rapid Transport System ( Delhi suburban)

148

RSF

Railway Safety Fund

149

RSP

Rolling Stock Programme

150

RSPB

Railway Sports Promotion Board

151

RSRC

Railway Safety Review Committee

152

RTIS

Real time Train Information System (another name SIMRAN)

153

SIMRAN

Satellite IMaging for RAil Navigation (in collaboration with IIT/Kanpur)

154

SLR

Seating cum Luggage Rake (Guard’s Brake Van)

155

SPAD

Signal Passed At Danger

156

SPART

Self- Propelled Accident Relief Trains

157

SPURT Car

Self Propelled Ultrasonic Rail Testing Car

158

SPV

Special Purpose Vehicle

159

SRSF

Special Railway Safety Fund

(ceased in 2008 year)

160

SST

Self Stabilizing Track

161

STC

Systems Training Centre

162

TAWD

Train Actuated Warning Device

163

TCAS

Train Collision Avoidance System

164

TEU

Twenty-foot Equivalent Unit (used in containers/ships) (20x8x8 feet)

165

TMS

Terminal Management System

166

TOR

Turn Over Ratio

167

TPWS

Train Protection Warning System

168

TRANSLOC

Transport Logistics Corporation of India

169

TRC

Track Recording Car

170

TTM

Tie Tamping Machines

171

TVU

Train Vehicle Unit

172

TWFA

Transfer Without Financial Adjustments

173

UIC

International Union of Railways (french word-Union internationale des chemins de fer)

174

USBRL

Udhampur, Sri nagar, Baramullah Rail Link (345 km)

175

USFD

Ultra Sonic Flaw Detector

176

UTS

Ultimate Tensile Strength

177

UTS

Unreserved Ticketing System

178

VCD

Vigilance Control Device

179

VED

Vital, essential & Desired

180

VGF

Viability Gap Fund

181

VPN

Virtual Private Network

182

w.r.t

With respect to

183

WAN

Wide Area Network

184

WGR

Workshop General Register

185

ZISTUs

Zonal  Integrated Signal and Telecom Units.

186

ZTC

Zonal Training Centre

 


Tuesday, June 9, 2020

SPV - Special Purpose Vehicle

SPV – Special Purpose Vehicle

 

Key Takeaways

ü  Separate legal entity

ü  To achieve specific objectives/goals

ü  Isolated from the firm

ü  Can leverage future earnings to raise funds

Salient features

·         Definition of SPV – A fenced organization having limited predefined purposes and a legal personality.

·          Also called as SPE – Special Purpose Entity (in USA) or SPC – Special Purpose Corporation or FVC – Financial Vehicle Corporation

·         A legal entity created to fulfil single, well defined and narrow objective/purpose.

·         Typically used by firms to isolate the firm from financial risk

·        ·          Primarily, a business association of persons or entities eligible to participate in the association.

·          Usually formed to raise funds from the market by collateralizing future receivables.

·         It is independent of members subscribing to the shares of SPV.

·         Concept: Usually, a sponsoring firm hives off or transfers its assets or activities from the rest of the company into an SPV. This isolation of assets is important for providing comfort to investors. The assets or activities are distanced from the parent company; hence the performance of the new entity will not be affected by the ups and downs of the originating entity. The SPV will be subject to fewer risks and thus provide greater comfort to the lenders.

·         Basically, a company can leverage future earnings to raise funds.

 

Advantages:

 

ü  Separating the risk.

ü  Protected against risks like insolvency.

ü  Best suited for Project financing.

 

 

Examples of SPVs in India

1.       NHSRC - National High Speed Rail Corporation. The Company has been modelled as ‘Special Purpose Vehicle’ in the joint sector with equity participation by Central Government through Ministry of Railways and two State Governments viz. Government of Gujarat and Government of Maharashtra.

2.       LTMRHL – Larsen & Toubro Metro Rail Hyderabad Limited (for Hyderabad Metro)

3.       IRSDC - Indian Railways Station Development Corporation ltd (by RLDA & IRCON)

***

 

Saturday, June 6, 2020

BIBEK DEBROY COMMITTEE REPORT

BIBEK DEBROY COMMITTEE REPORT

 

·         Full name is "Committee for mobilization of resources for major Railway projects and restructuring of Railway Ministry and Railway Board".

 

·         Terms of reference of the committee:

                                i.            Re organization of Railway Board.

                              ii.            Promote exchange of Officers between the Railways and other Departments.

                            iii.            Estimate financial needs and ensure the proper resources from internal & external to meet the future Railway needs.

                             iv.            Setting of Railway Regulator.

 

·         Constituted in September, 2014.

 

·         Interim Report submitted on 31.03.2015 and Full Report submitted to the Railway Board in June, 2015.

 

·         Consists of Chairman (Shri Bibek Debroy, Member, Niti Ayog) and seven Members. 

 

·          Popularly called as Debroy Committee.

   

·         Time frame for Restructuring for Indian Railways  - 5 years.  Hence it recommends three building blocks/pillars namely,

 

1)      Commercial accounting

2)      Changes in HR  and

3)      an Independent Regulator.

 

·          Recommendations of the Debroy Committee in  brief are :

 

1.      To hive off the non core activities like Hospitals, Security, Construction & maintenance of Quarters, Schools, Catering & manufacture of locos, coaches and wagons.

 

2.      Choice to GMs/DRMs  - Either  A) to persuade State Governments to bear 100 % cost of GRP - Government Railway Police ( at present 50 % ) or  B) GMs/DRMs should have freedom to choose Private Security agencies or RPF for security on the trains.

 

3.      Not recommended of privatization of Indian Railways. Prefers use of the word Liberalization.

 

4.      Schools & Colleges - Subsidizing children education at alternative schools like KVs - Kendriya Vidyalayas  &  Private schools.

 

5.      Medical facilities - a) given choice to staff for opting Railway Hospitals or private empanelled practitioners  or CGHS - Central Govt Health Services.

 

6.      Construction organizations  - Bringing out all zonal construction organisations under umbrella of one or more PSUs like IRCON or RVNL etc.

 

7.      Rationalization of More Zonal Railways/Divisions.  That means contained to optimum number of Zones/Divisions from the present number.

 

8.      DRMs to be more powerful by recommending the followings ones.

A.      Financial powers should be inflation indexed.

B.      Re appropriation of funds between Plan Heads, if earnings target is achieved. 

C.      Portion of earnings should be retained in Division for specific use.

D.     Have power to sanction new posts in lieu of surrendered posts.

E.      Finance must be completely under DRM

F.       Option to choose between RPF & Security Agencies.  

 

9.      Railway Stations - Recommends Gazetted Station Managers for A 1 & A Stations.  Supervisors at Station should report their Officers through Station Manager only.

 

10.  Railway Board should be re organized  as 

a) Member (Traction & Rolling Stock)

 b) Member ( Passenger & Freight business)

 c) Member (HR & Stores)   - Need not be from Railways

d) Member (Finance & PPP) - Need not be from Railways

 e) Member (Infrastructure)

 

11.  Accounting reforms - introduction of Accrual accounting in Indian Railways.

 

12.  Reduction of number of Group A services in Indian Railways. 

 

13.  Merging of Group A Services in two broad groups.  i) Indian Railways Technical Services

( IRSME, IRSE, IRSEE, IRSSE, IRSS ) ii) Indian Railways Logistics Service (IRTS, IRAS & IRPS)

 

14.  Lateral inflow of talent from outside, such as Chartered Accountants, Cost Accountants, Bankers, Scientists on Deputation.  Similar way, Railway staff allowed to go on deputation to other Central Govt. departments.

 

15.  Phasing out separate presentation of Railway Budget and merger the same with General Budget.  

 

16.  Establish non-fungible or non-lapsable safety fund (with funding as surcharge and matching grant from Govt. )

 

17.  Encourage on - board catering through large food chains and local restaurants.

 

18.  Setting up of Independent Regulator - RRAI - Railway Regulatory Authority of India.

 

19.  IRMC - Indian Railway Manufacturing Company  -   All production units such as ICF, CLW etc brought under the control of IRMC.

 

20.  General Managers - GMs - should have more powers of Re Appropriation of funds.

 

***


Sunday, May 24, 2020

Single Tender in Works Contracts

Single Tender in Works Contracts

·         Sources: 1214-A of Engineering Code (Railway Board letter no. 97/CE.I/CT/32 dated 19.01.2000)

 

·         Awarded under the following situations:

 

1.       Accidents, breaches involving dislocation to traffic.

2.       Works of specialized nature (subject to personal approval of GM/CAO(C) with prior concurrence of FA&CAO/PFA(C) . For works of specialized nature pertaining to Open line, personal approval of GM is required with prior concurrence of FA&CAO.

3.       Any other situation, inescapable to call for single Tenders /single quotation subject to GM's Personal Sanction with PFA's concurrence.

4.       AMC - Annual Maintenance Contract for equipment incl: small track machines on OEMs - Original Equipment Manufacturers / Authorised dealers of OEMs with AGM's approval.

5.       Works pertaining to doubling, Traffic facility, New lines, gauge conversion and railway electrification projects, which are targeted for completion in the current financial year subject to:

A.      CAO/C & CAO/RE - Up to Rs. 5 Crores

B.      Personal concurrence of FA&CAO/C

C.      Tender Committee should be at least at SAG Level

D.      As per instructions of Railway Board for specific financial year.

 

Note: These powers may be delegated by GMs in consultation with PFA to PHODs/DRMs up to a maximum of Rs. 5 Lakhs per item per annum.  On re-delegation, these powers would be exercised by PHODs/DRMs in consultation with associate finance.

 

·         The Tender Committee composition and the accepting authority should be at least one step higher than the members nominated in case of Open Tenders/Limited Tenders except where G.M. is the accepting authority.

 

·         The following points are to be bear in mind before resorting the Single Tender:

1.        It is in the public interest.

2.       The Demand is urgent.

3.       No other suitable contractor is available to execute the work.

4.       Reasons should be recorded as to why single Tender is being resorted to in preference to limited Tenders.

5.       To be operated in times of cyclone, floods, accidents, sabotage, enemy action, explosions, cases of extreme urgency such as works or supplies necessary to safeguard life or property or repair damage to track caused by flood breaches, washaways, accidents or other unforeseen contingency so as to maintain through communication.

6.       Lighting, transhipment, hiring of plant, machinery, and equipment (including communication equipment) in cases listed above under item No. 5.

7.       Report to GM is necessary for incorporating it in the annexure to the PCDO

8.       The discretion to classify any item of work as one of extreme urgency for the purpose should be exercised personally by the DRMs.

****