Accounts Department

Major functions of the Accounts Department.

1. Central Accounts Section

1. Formulation of Accounting Policies/Procedures / For recording Accounts and maintenance of books. Coordinating with Statutory Auditors for timely completion of Limited Review at quarterly intervals and Statutory Audit as at the end of the financial year.

2. Maintenance of Chart of Accounts, attending to queries, clarifications relating to InstAccount on a regular basis for ensuring proper maintenance of accounts/ books by all the Accounting Units.

3. Preparation of Balance Sheet and Profit and Loss Account of the Bank.

4. Publication of half yearly results.

5. Maintenance and upgradation of InstAccount Software and addition of new modules with the help of DIT.

6. Quarterly Review of CRAR/ NPA Accounts / Provisioning etc.

7. Monitoring and Reconciliation of NABARD General Account on a regular basis.

8. Instructions on Annual Closing and scrutiny of annual closing statement

9. Conducting zonal workshops on annual closing work, preparation of closing statements etc.

2. Budget Cell

Preparation of Administrative and Capital Expenditure Budget estimates- Review of expenditure vis a vis budget approved at quarterly interval to maintain control over expenditure.

3. Corporate Income Tax Section

1. Corporate Income Tax related issues, Tax Audit

2. Wealth tax

4. ALCO Support Group

1. Preparation of ALCO policy document.

2. Collection, compilation of data for ALM from ROs and HO departments.

3. Preparation of liquidity gap and Interest Rate Sensitivity gap statements and analysis for liquidity and interest rate risk management.

4. Convening meetings of ALCO, Preparation of Agenda for the meetings, Follow up on the decision taken by ALCO.

5. Other items of work incidental to and connected with Asset Liability Management.

5. Mid Office

1. Monitoring risk related to trading operations and management of market risk in the investment portfolio.

2. Contingent Fund planning

3. Empanelment and dempanelment of Brokers and review of Brokers performance

4. Due diligence and approval of AMC for Mutual Fund Investment.

5. Internal rating of Debt market investment.

6. Transfer price mechanism & Profit Center evaluation.

7. Research relating to Investment.

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