Know everything about LOC || Letter of Credit || CPWA Ch. 6 || PC12 || PC16 || PC21 || PC04 (New) скачать в хорошем качестве

Know everything about LOC || Letter of Credit || CPWA Ch. 6 || PC12 || PC16 || PC21 || PC04 (New)

Understanding Divisional Officer Financial Management with Letters of Credit In this video, we delve into the detailed procedures and regulations governing the financial management by Divisional Officers within the framework of the State Bank of India or any other accredited bank. Here’s what we’ll cover: Key Points: 1. Direct Accounts and Letters of Credit: How Divisional Officers interact with banks and utilize letters of credit for bill payments. 2. Expenditure Regulations: The prohibition of incurring expenses from the consolidated fund before the passage of the Appropriation Act. 3. Interim Financial Management: The process of issuing the first letter of credit at the start of the financial year, covering one-sixth of the authorized budget allocation. 4. Ongoing Budget Allocation: Steps for issuing subsequent letters of credit based on budget allotments, including the specific roles of Chief Engineers, Divisional Officers, and the LOC Cell. Progressive Fund Management: Understanding the issuance of up to 80% of Budget Grants from April to September and subsequent adjustments for advances and withdrawals. 5. Letter of Credit Phases: Detailed timelines and processes for the second, third, fourth, and final LOCs throughout the financial year. 6. Bank Responsibilities: Ensuring payment compliance with the assigned credit limits and the integration of unspent balances. 7. Year-End Procedures: Handling cheques drawn during the last LOC and their presentation in the following financial year. Join us for a comprehensive breakdown of these critical financial management processes to ensure smooth and effective operation within the Public Works Divisions. Whether you are a Divisional Officer, a finance professional, or simply interested in government financial procedures, this video is packed with essential information. Don't forget to like, comment, and subscribe for more insightful content!