Accounting by Banks for Small Savings Schemes
This query is : Resolved
Chaitanyaa
(Querist)
16 April 2022
Banks in India open various accounts under Small savings Schemes like PPF, Sukanya Samridhi and Senior Citizen Scheme on behalf of Govt. In the Balance sheet of banks , where the balance in these schemes is shown by banks.
Regards
Regards
CA R SEETHARAMAN
(Expert)
17 April 2022
Funds deposited under the scheme utilised by the banks only. Hence it will be shown in bank's balance sheet as deposits.
Being the nationalised banks they implement govt schemes.
Being the nationalised banks they implement govt schemes.
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