Administration Manual - B.E.S.T. Undertaking.

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towards lifting of coins is handed over to STC’s representative who arrange to
deposit the same in SBI, as the amount is out of traffic earnings.
6. To collect STD/TD receipt from the concerned bank subsequently and to confirm the
maturity date and maturity proceeds with interest.
7. To make an entry of Term Deposit Receipt (TDR) in the register kept for the purpose,
obtain signature of senior officer, get it audited by Audit Department and MCA
Department.
8. Prior to date of maturity of Term Deposit, arrange to discharge TDR and send it to
bank prior to maturity date and give intimation to deposit the maturity proceeds in
high value clearing alongwith interest in State Bank of India where we have our
Current A/c.
Investment of Undertaking’s funds in Public Securities :
Section 3(0) of MMC Act defines Public Securities as Securities of the Central Govt. or
any securities guaranteed by the Central or any State Govt. Securities of the Bombay Port
Trust, Securities issued under this Act and any Mumbai Municipal Debentures or other
securities heretofore issued.
Surplus funds of the BEST Undertaking can be invested in Public Securities under
(460 -JJ(1)) of the MMC ACT 1888. Whenever surplus is available from the rolling cash flow
position, it can also be invested in Public Securities provided the yield interest receivable is
more than the banks and cover the said period.
Securities guaranteed by the Central Govt. are called as Central Government
Securities (CGS) whereas securities guaranteed by any State Govt. are called as State
Government Securities (SGS).
Following steps are involved.