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

1162
The Surplus funds of the Undertaking is invested as per the provisions under Section
460 JJ of the MMC Act (Amended) 1999 in Bank Deposits and Public Securities. In case of
P.F Trust the fund is invested in accordance with the directives of RPFC from time to time
i.e. in Special Deposit Scheme, State/Central Government Guaranteed Securities/Bonds and
Public Sector Undertaking Bonds.
In case of investment in Public Securities/PSU Bonds, we have two options of
delivery as below :-
1. Physical – Investors need to hold the Certificates in physical form. In case of
secondary market transactions, bonds are required to be sent to registered office of
issuer for change in name and all such certificates are lodged in safe custody with
the Central Bank Of India, Fort Branch for BEST Undertaking and with Bank Of
India, Fort Branch for BEST Undertaking P.F. Trust. The charges levied by these
Banks are as under :-
Description Central Bank Of India Bank Of India
A/c Opening NIL Rs.225/-
Lodgement Charges Rs.50/- upto 20 scrips Rs.4/- per Scrips
( Minimum Rs.55/-)
Withdrawal Charges Rs.50/- upto 20 Scrips NIL
Above 20 Scrips Rs.3/- per scrip NIL
Retaining charges Rs.150/- Rs.4/- per scrip
( Upto 20 scrips)
( Minimum Rs.55/-
Retaining charges
( above 20 scrips)
Rs.1.25 Scrip NIL
Redemption/Interest
Collection charges
0.50% NIL
(The above charges are subject to charge from time to time).
2. SGL : Subsidiary General Ledger Account : An organization dealing in
buying/selling of Public Securities/Treasury bills can open SGL A/c with Bank