Ashish Patel asked 4 years ago
Exclusion from liabilities
Amount received in Indian currency against import bill and held in sundray deposit pending receipt of final rates.
Unadjusted deposits and balance ………..
Inclusion
Net credit balance in branch adjustment account including relating foregin branches.
The reconciliation of nostro account….
Sir explain above point.
Ravi Staff answered 4 years ago
Exclusion Point
Importer paid Rs 70 lakhs so that bank can pay $ 1 lakh to foreign supplier. Bank paid $ 1 lakh but customer account is not yet adjusted because exact rate to be used is not yet finalised. Now such unadjusted balance wont be treated as part of deposits, as it is not refundable.
Inclusion Point
Suppose customer pays 10 lakhs in mumbai branch for DD to be paid in Delhi, DD is not yet paid in delhi, So Inter Branch Account will show credit balance of 10 lakhs as mumbai branch would have passed entry Cash Dr to Inter Branch 10 lakhs, so credit balance indicates bank has to pay someone this amount, so this amount should be included.