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This document outlines the standard procedures for the checking of vouchers and verification of annual interest in the SBCO process. It includes guidelines for reviewing all payment warrants exceeding Rs. 5000, a 20% check of closed accounts with substantial amounts, and a 4% check of deposit transactions. These procedures will be uniformly applied to accounts maintained manually or digitally. Additionally, the annual interest calculation will be verified for 5% of accounts, and balance agreements will be reviewed biannually for savings accounts.
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General check of vouchers and % checking of vouchers • (i) All warrants of payment in respect of withdrawals exceeding Rs.5000/- at the head and sub offices. • (ii) Warrants of payment of 20% of closed accounts of heavy amounts. • (iii) 4% of deposit transactions. • The checks will apply uniformly to accounts maintained either manually or on computers.
Checking of annual interest • The annual interest calculation will be checked in respect of 5% of the accounts
Verification of balances • The agreement of balances will be done on six monthly basis like Savings Accounts.
