SBCO in India Post

SBCO – Savings bank control organisation

This branch works in head post offices all over India. Let me share with you the oral history of SBCO cadre in post offices. Earlier officials used to come from Audit and Accounts department to verify the accounts and tally the figures in post office annually. When their travel allowance and expenditure was calculated it was better to form a wing in the postal department itself. Finally SBCO cadre for postal department to do the accounting works in post offices were formed with one fault- appointment is done along with postal assistants so the authority of SBCO is not widely accepted. SBCO will function in every head post office with strength of one postal assistant and supervisor or two postal assistants and supervisor; sometimes supervisor post will be vacant due to inadequate official with seniority and experience, in that case one in charge and postal assistant will work or sometimes one person will act as in charge and postal assistant. 

When a transaction is done in sub offices the vouchers and list of transactions will reach in head post offices with one day transit or two day. Savings bank branch in head post offices are assigned to verify the transactions along with vouchers, whether sufficient balance is in the account for withdrawal, signature of depositor is matching, balance after transaction is same in head post office and sub office and so on. If the postal assistant notice any fault in a particular transaction, he/she can raise objection and sent it to the corresponding sub office and they have to settle it. If depositor signature is missing in a withdrawal voucher, MAP (memo of admission of payment) is to be forwarded from sub office; if post master signature is missing COP (certificate of payment) has to be forwarded. When there is a closure, SB3 card is must. When the branch finishes a day’s work they will forward the list of transactions and vouchers to SBCO branch where the final check is done. SBCO also can raise objections in case of omissions by SB branch. 

Questions raised by SBCO are to be answered by the sub office officials. There is no guarantee they will answer in a polite manner. SBCO officials are not having the authority as and required for the job. SBCO will fetch the data using bridge software and verify with the list of transaction (LOT) whether SB branch has done it correctly. At the end of a month SBCO compare month end figure with the cashbook for the corresponding month and statistical extract is prepared; that is forwarded to accounts officer in regional office. Another report on monthly progress in SBCO work is forwarded before 5^th of every month. Transfer of account details are to be forwarded before 10^th of every month.

SBCO was formed with a good intention but the work load and inadequate numbers of staff with the less efficient computers delay the work. Annual interest posting is done in sub offices only after the interest statement report from SBCO is sent to them. 

The role of SBCO after the implementation of core banking is unknown. Still SBCO works in post offices all over India though they are not liked by other branch official.