Maintenance of ledgers

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This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

17 July 2011 In computer environment does a district co-operative bank has to take copies of general ledger day book etc
whether the managers to put their signatures to authenticate the same

U S Sharma

U S Sharma (Expert)
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17 July 2011 yes,
may be the target desk does not have the computer facility,
to keep records for further reference, they have to preserve copies in hard form

C A S.S.Agarwal, M.Com.,LL.B,

C A S.S.Agarwal, M.Com.,LL.B, (Expert)
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18 July 2011 In co-operative Bank ledgers are required to be maintained in physical form as you do not know when the system may go down and if there is slight change in the electronic data the same may disturb the entire functioning of the accounts a holders balances and there might be some manipulation through electronic data if no print outs are kept. Jobs are transferable in banks and if some one makes some intentional fraud through electronic data you cannot trace it till physical data are available and signed by the concerned person.

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