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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