Bank account descripancy

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Nilesh (Querist)
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24 December 2008 Dear Sir,

i m enjoying pc limit and post shipment credit from bank.. i want to find out dicripancy in both the account how to check or found dicripancy.

guide me plz...

CA RAMESH KUMAR AHUJA

CA RAMESH KUMAR AHUJA (Expert)
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25 December 2008 The discrepancy may be in documentation and the facts of the case. As far as documentation is concerned, the standard documents like agreement, application, guarantee, collateral security etc should be verified. The orders in hand, the goods exported, credit terms and the production cycle are other areas to assess the working capital requirement which should be analysed.

Nilesh

Nilesh (Querist)
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25 December 2008 i like to calculate the ineterst charged by the bank weather it is calculated right or not... because i found that bank has even charged the interest on the margin money kept by the bank at a time of disbusement in post shipment money... may i kanoe the meaning for FBPU, FABC and other terms used by the bank ...

CA RAMESH KUMAR AHUJA

CA RAMESH KUMAR AHUJA (Expert)
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25 December 2008 FBPU : Foreign Usance Bills Purchased Advance

FABC : Advance against Foreign Bills or Collection

Interest is charged on daily product method and daily product is calculated by multipling the outstanding amount of loan with the days for which the amount is outstanding.

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