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| DAT issues fresh circular for attaining cash neutral transactions from treasuries | | | Early Times Report
JAMMU, Dec 15: In order to ensure strict compliance of government orders and instructions issued from time to time regarding attaining Cash Neutral Transactions from the treasuries of Jammu and Kashmir State, the Director Accounts and Treasury (DAT) today issued a fresh set of guidelines.
As per the circular every bill/bills whether representing Salary, G.P Fund/SLI/Medical reimbursement/TE, Salary arrears etc should be accompanied by authority letter from the DDOs along with list of beneficiaries with their Bank Account Number and Bank Branches in the name of the Business Head of the concerned Business Unit of J&K Bank authorizing him to debit his official bank account to the extent of the amount of the bill/bills by simultaneous credit to the accounts of the individual employees.
The circular says the Treasury Officers will not entertain any bill/bills which is/are not supported with this authority letter depicting the 16 digit bank account numbers of the employees/beneficiaries.
According to the circular, the Treasury Officers besides passing the bill/bills for payment after due scrutiny will endorse the authority letter to the Business Unit of J&K bank. The concerned head of the business unit of J&K bank also will not entertain bill/bills unless it is supported with authority letter and the statement of beneficiaries.
The concerned Head of the Business Units of J&K Bank after crediting the amount of the bill/bills in the official account of the DDOs will instantly make the credit in to the individual accounts of the beneficiaries as per the details given by the DDOs in their authority letter, the circular says.
Disciplinary action shall be initiated against the DDO's who retain the money in their official Bank Account for more a maximum of the 24 hours, the circular reads.
In order to bring transparency and also to ensure that the fund released is credited to the intended individuals/payees in time, the system of cash neutral transfers/transactions at Treasuries was introduced in 2007 in pursuance of a Cabinet Decision followed by various Government Orders. The basic purpose for introduction of cashless transactions besides transparency was that the money is immediately credited to the individual accounts of the beneficiaries. This procedure/practice applies to all kinds of payments i.e. Salary, Pension, Works, Supplies, Contracts, G.P Fund, Services and others.
However, the circular reads, instances have come to the notice of Finance Department that even after payments having been made at the Treasury by credit to the official Bank Account of a DDO, the credit is not being made to the accounts of the beneficiaries immediately. |
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