Para 15.1.4 — CAM

15.1.4 As per the revised accounting procedure, each authorized bank was required to have a Nodal branch at the station of ZAO. This branch would function as Focal Point Branch (FPB) for all the authorized receiving branches of the bank at that station. The FPB in addition to acting as a pooling branch also functions as a receiving branch. There is no need to set up an FPB if the zone has less than 5 authorised branches. In such cases the branches will function as subagent to SBI for reporting, remittance and reconciliation of direct taxes. The receiving branches of a bank in a particular zone would report transactions and also submit scrolls/challans to their respective FPB. The FPBs in turn transmit them to ZAOs.