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Wednesday, October 15, 2014

Instructions regarding the exchange of cash remittances.

48. Instructions regarding the exchange of cash remittances. – 

(1) The Head of the Circle is required to prescribe how first class head offices situated at stations where there is no treasury or sub-treasury are to be supplied with funds and how they are to be relieved of their surplus funds. A first class head office may be authorised to exchange remittances with any other head office.

(2) When it is not desirable that cash should be sent through the post from one office (head, sub, or branch) to another, the head of the Circle will prescribe the system under which the remittances are to be exchanged. It may be ordered that a special carrier, such as a postman, village postman, overseer or other subordinate, should be employed to convey the remittances, or remittances may be ordered to be made by means of bank-bills (hundi) or in any other way that the Head of the Circle may consider best suited to the needs of the case; but if remittances are to be systematically made by means of bank-bills (whether commission has to be paid or not) or through an outside agency, the Director-General’s sanction must be obtained. The detailed arrangements in the case of post offices under the control of a Superintendent will be prescribed by him, but they must be based on the system ordered by the Head of the Circle.

(3) Cash sent through the post must always be enclosed in cloth or leather cash bags, and ordinarily leather cash bags are to be used when the remittance includes coins or exceeds Rs. 100. Cloth bags are to be used when the remittance consists of currency notes only and does not exceed Rs. 100. In exceptional individual cases, the remitting office may exercise its discretion on the use of leather or cloth cash bag provided no risk is involved. It is, however, not intended that all offices that send cash by post should be supplied with leather cash bags as well as cloth ones. However, offices which exchange remittances exceeding Rs. 100 on an average of at least 10 times a month may be supplied with leather cash bags. In a special cases, a deviation from the above principles can be made under the previous orders of the Heads of the Circle. Whenever it is ordered that a special carrier should be employed to convey remittances, it should be laid down whether the money is to be made over loose to the carrier or enclosed in a cash bag. Ordinarily cash in excess of Rs. 250 should be enclosed in cash bag. 

NOTE – Cash remittances should, as far as possible, be excluded from the mails when they travel by runners at night, and when such remittances cannot be altogether excluded, a maximum limit as to the amount which may be sent should be fixed in each case. 

Please refere Rule No. 48 of PM_VOL_VIII

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