JAMMU: The Jammu and Kashmir Finance Department has constituted a committee to undertake a comprehensive review of the existing treasury deposit system operating across the Union Territory. As per an order issued by the Finance Department, the committee comprises the Director Accounts and Treasuries, Jammu, Director Accounts and Treasuries, Kashmir, Treasury Officers of Saddar Treasury Jammu, Saddar Treasury Srinagar and Civil Secretariat Treasury, the Accounts Officer, Treasury Administration (DGAT), and a representative from the NIC (JKIFMS Project).
The committee has been tasked with reviewing the existing framework governing treasury deposits, including security, revenue and other deposits, examining accounting provisions under the General Financial Rules, Treasury Code and other regulations, reviewing procedures for receipt, refund, adjustment, reconciliation and accounting of deposits, identifying long-pending and unclaimed deposits and recommending their disposal.
It will also examine the functionality of JKPAYSYS/Treasury Net, suggest IT-enabled reforms for end-to-end digital management of treasury deposits, recommend amendments to existing rules and submit its report with actionable recommendations within 15 days from the date of the order.
