Bill Discounting System (BDS) - Procedure for disbursement of amount in promissory Note

Government of Kerala
Abstract

Bill Discounting System (BDS) - Procedure for disbursement of amount in promissory Note - Orders Issued.

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FINANCE( BW E) DEPARTMENT
G.O.(P) No. 154/2015/Fin 
Dated:Thiruvananthapuram, 27/04/2015

Read: 1. G.O.(P)No. 13/2015/Fin dated 12/01/2015
           2. G.O.(P) No.97/2015/Fin dated 25/02/2015

ORDER

In the orders referred to above Government have issued guidelines for the implementation of  Bill Discounting System (BDS). In continuation of the above orders following guidelines are also issued for making payment in respect of the promissory Notes issued to the banks.

        (ii) The Banks will submit a hard copy of the promissory Note taken from BDS software duly signed by an authorised signatory of the Bank at least five working days before the due date of  payment at the District Treasury Thiruvananthapuram.

           (iii)The District Treasury officer, Thiruvananthapuram will be the authorised Treasury officer for making payment to Banks in respect of the promissory Note submitted by Banks. The District Treasury officer shall verify the details in the Promissory Note presented by Banks in the BDS software.  The District Treasury officer, Thiruvananthapuram shall draw and disburse the amounts mentioned in the Promissory Notes to the respective banks by debiting the expenditure to the head of account '8782-102-98 PW Cheques'.

           (iv) The District Treasury officer, Thiruvananthapuram will issue pay order cheques (poc) for the amount eligible for each bank. Payment to Bank will be made through RTGS mode. District Treasury officer, Thiruvananthapuram is permitted to open a Savings Bank account at state Bank of Travancore, Main Branch, statue, Thiruvananthapuram for the purpose.

          (v) The provision for opting Bill Discounting system (BDS) in respect of the bills relating to the month of January 2014 will be 30/04/2015. Bank shall furnish Form No. V of the bills for the month of January 2014 on or before 30/04/2015.

          (vi) The respective Division/Sub Division office will make necessary account adjustment based on the details attached to the orders issued for Letter of credit. The expenditure in respect of discount charges to be reimbursed to Banks has to be classified as follows.

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   (vii) The details of discount charges will be exhibited in the LoC sheet so as to enabre the division to make necessary entries. The NIC will make necessary modification in the software for carrying out the above guidelines.

                                                         
                                                  By Order of the Governor
                                                        Dr. K.M. Abraham
                                         Additional Chief Secretary (Finance)