318-A. These rules are designed primarily for the guidance of Treasury Officers in dealing with the payments into and withdrawals from Treasuries in connexion with the facilities afforded by the Reserve Bank to Government officers and others for the remittance of moneys from one place to another. These remittances are arranged for by the issue of Telegraphic Transfers and Drafts, on the Reserve Bank account.

318-B. Remittances between places where the Reserve Bank has its own offices or is represented by its State Bank agencies, having full currency chest facilities, will not pass through the Government Account. At places where the Reserve Bank is not so represented, all Treasuries and Sub-Treasuries in India with currency chest facilities and such other Treasuries or Sub-Treasuries as may be nominated by the Reserve Bank in this behalf, will be regarded as ‘Treasury Agencies’ of the Reserve Bank for the issue and payment of Telegraphic Transfers and Drafts drawn by or upon them. The connected debits and credits in the Treasury accounts, which will be carried initially against the balance of the Government owning the Treasury or the Sub-Treasury, as the case may be, will be cleared by the Accountant General by daily adjustments advised to the Central Account Office of the Reserve Bank in accordance with such directions as may be given by the Comptroller and Auditor-General with the approval of the President.

NOTES—(1) At places where the cash business of the Treasury is conducted by sub-offices of the State Bank of India having limited currency chest facilities (i.e., Treasury Pay Offices), Reserve Bank remittances will be drawn by or upon the Treasury or Sub-Treasury at such places acting as Treasury Agencies of the Reserve Bank and not the Treasury Pay Office of the State Bank, though the cash and clerical work in connexion therewith will be transacted by the latter on the orders of the Treasury or the Sub-Treasury Officer, as the case may be.

The names of Treasuries and Sub-Treasuries which, for the purpose of this rule, are regarded as Treasury Agencies of the Reserve Bank, will be found in the separate publication ‘List of Treasuries and Sub-Treasuries in India’ issued by the Central Government.

(2) At places where cash business of a Treasury or a Sub-Treasury is transacted by a branch of the State Bank, the drawing and encashment of bank drafts are made at the State Bank of India.

318-C. The following types of remittances between one ‘Treasury Agency’ and another or between Treasury agencies and places where the Reserve Bank is represented, are available to Scheduled Banks, Non-Scheduled Banks, Co-operative Banks, the general public and on Government account :

(1) Telegraphic Transfers,

(2) Bank Drafts.

318-D. The Central or State Governments are entitled to remit funds free of charge throughout the country. Bank Drafts are issued by Treasury Officers to Government officers or to others on behalf of Government and for other quasi public purposes set forth in the Annexure to this Chapter.

NOTE—Drafts on Government Account are ordinarily not issued for amounts of less than Rs. 50 except for police men’s remittances vide paragraph 337-339.

318-E. The procedure to be observed by Treasury Officers in respect of the issue and payment of Telegraphic Transfers and Drafts on the Reserve Bank account will be governed by the following rules, but the Treasury Officers shall comply with any general or special instructions that may be issued to them in this behalf by the Currency Officer.

318-F. Subject as hereinafter provided, the various forms to be used in connexion with drawings on or by Treasury Agencies will be designed by the Reserve Bank.

The form of initial accounts to be kept by Treasury Agencies in respect of remittances drawn and encashed by them and the methods by which accounts of such remittances are to be rendered by them to the Accountant General, will be governed by such directions as may be given by the Comptroller and Auditor-General with the approval of the President.

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