Para 3.10.20 — MSO (Audit)
Original Rule Text
3.10.20 Payments against such advance deposits will be made by the Missions in London and Washington on receipt of requests from the undertakings/bodies concerned duly supported by a duplicate copy of the receipt/acknowledgement issued by the Controller of Accounts, Ministry of External Affairs. The latter will also directly send to the Missions in London or Washington, as the case may be, a simultaneous intimation furnishing full particulars of the deposits. Individual disbursements in foreign exchange will be made at the commercial rate of exchange prevailing on the day the individual payments are made.
What This Means
When PSUs or autonomous bodies make advance deposits with the Controller of Accounts, MEA, the London and Washington missions will process payments only after receiving: (1) the organization's payment request with a duplicate copy of the receipt issued by the Controller of Accounts, and (2) a simultaneous direct intimation from the Controller of Accounts with full deposit details. Individual payments are made at the commercial exchange rate prevailing on the date of payment.
This explanation was generated with AI assistance for educational purposes. Always refer to the official gazette notification for authoritative text.
Key Points
- 1Missions need both organization's request and Controller of Accounts' receipt
- 2Controller of Accounts sends simultaneous intimation directly to the mission
- 3Dual verification ensures authenticity of the deposit
- 4Individual disbursements use the commercial exchange rate on payment date
- 5Full particulars of the deposit must be communicated
Practical Example
A state PSU deposits Rs 50 lakh with the Controller of Accounts, MEA for payments to a British consultancy firm. The PSU sends the payment request with the receipt copy to the London High Commission. Simultaneously, the Controller of Accounts sends a separate intimation to the mission confirming the deposit details. Only after both are received does the mission pay GBP 48,000 at the commercial rate prevailing that day.
This explanation was generated with AI assistance for educational purposes. Always refer to the official gazette notification for authoritative text.
Frequently Asked Questions
Why is dual verification needed?▼
Why is the payment-date exchange rate used instead of the deposit-date rate?▼
What audit checks apply to these transactions?▼
This explanation was generated with AI assistance for educational purposes. Always refer to the official gazette notification for authoritative text.