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| Circular number | Commercial Circular No. 70 of 2016 |
|---|---|
| File number | No. 2015/TG-I/10/Payment |
| Date | 2016-12-10 |
| Type | Commercial Circular |
| Topic | reservation |
| Official PDF | indianrailways.gov.in |
Accounting procedure for remittance of Traffic Earnings of PRS, received through Remittance into bank is cleared and contra credit is accorded to Reserve Bank Deposit, as
[ of India (Bharat Sarkar) Ministry of Railways (Rail Mantralaya) (Railway Board) No. 2015/TG-I/10/Payment through electronic means(Pt 11)/2016 Date: 10.12.2016 General Managers All Zonal Railways (Commercial Circular No 70 of 2016) Sub :- Accounting procedure for remittance of Traffic Earnings of PRS, received through Point of Sale (PoS) Machine, installed by SBI. In view of recent decision of government to promote cashless transactions, it has been decided to install Point of sale (POS) machines at various locations of Indian Railways to allow cashless transactions using debit/credit cards. State Bank of India has been mandated to install 10,000 POS machines at various locations. Accordingly to operationalize this process and to ensure correct accountal of remittance the following procedure shall be followed: 1) 2) 3) 4) 5) 6) Once the customer swipes the card at PoS Machine (T), customer’s account is debited and a receipt issued to customer and the original receipt is to be retained by the Booking Clerk. At the end of a shift, the booking clerk shall print a summary of transactions during his shift and attach all the original receipt and submit it to Cash Office. This shall be reconciled by cash office with the MIS received from Bank next day, as detailed below in 2. Money gets transferred into the pooling account of the aggregator (T). Inter bank settlement happens at end of the day. All the transactions so pooled together a MIS is generated for the Railway’s by the Aggregator. This MIS (Annexure-A) shall be handed over to the commercial staff the next day. If there is requirement for more information, then Bank will be suitably addressed. The MIS from the Bank shall be treated as TR Note. The requirement of MIS from CRIS for reconciliation purposes is enclosed as Annexure ‘B’.This MIS shall be handed over to the cash office by commercial staff. The access to same shall be made available for download and reconciliation to concerned commercial staff and Traffic Accounts Office. Thereafter, accredited bank credits Railway’s deposit account mapped with the Banking system (T+1). Accredited Bank, thereafter takes over the procedure of remittance through the FPB channel to CAS, Nagpur and RBI. The TR Note shall be submitted to Traffic Accounts Office, as per existing schedule as enshrined in Accounts Code Volume | and Il. TA office shall conduct an internal check on the MIS received from Bank (Annexure A) with the daily transaction details received from Cash Office(Annexure B). ae lof § Yo ite, पं ya ~ Ee Thereafter, TA office shall seek credit from Books Section/HQ for remittances received in Bank. 8) Necessary Accounting entry is passed by accounting for the amount deposited in Bank as a debit to Remittance into Bank Account; : 9) After receipt of scroll from the accredited bank, and matching of credit, amount debited to Remittance into bank is cleared and contra credit is accorded to Reserve Bank Deposit, as per normal practice. The procedure laid out above in paras 1) to 9) shall be ordinarily followed. However since at present, CRIS is still finalizing integration aspect, for the intervening period the following procedure shall be followed: a) Passenger buy ticket through PoS machines installed; b) Accredited Bank, issues a Demand Draft or Banker’s Cheque to the concerned commercial staff for the day’s remittance on T+1; c) This cheque in settlement of transactions through PoS machine alongwith other Cash sale of PRS Tickets are remitted to our accredited bank and a CR Note is prepared (T+1 day); d) Through MIS generated in PRS, amount remitted in Bank, is checked with the total sale for the day (whether through cash or through Debit/Credit card); e) Necessary Accounting entry is passed by accounting for the amount deposited in Bank as a debit to Remittance into Bank Account; ; ; f) After receipt of scroll from the accredited bank, and matching of credit, amount debited to Remittance into ba
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