Excess Cash Balance (ECB) memo – A glance

GURU’S DAILY INSIGHT

Excess Cash Balance (ECB) memo – A glance

ECB should be  furnished by the SPM of A class, B class & C class Offices.

Whenever Cash balance is kept in excess of authorized minimum cash balance,  SPMs have to note amount of liabilities in their Daily account. 

Whenever Cash balance is kept in excess of authorized maximum cash balance in addition to above action SPMs to prepare ECB in PA-20 and submit to HO.

 

ECB for sub offices – should contain following information

ECB memo should be given monthly serial no.
• Authorised cash balance
• Closing balance of the particular day
• Cash kept in Excess of minimum authorised balance
• Reasons like details of SB account no, Emo Payment details etc. should be furnished in detail for retention of excess cash
• Particulars of late collection, late receipt of remittance from other offices to be furnished
• Any other reason for excess retention of cash

ECB for Branch offices – SPM have to prepare BO ECB

Reasons like details of SB account no, Emo Payment details etc. should be furnished in detail for retention of excess cash

SPM to mention his remarks of justification or otherwise.