BAPS& ASSOCIATES

(Chartered Accountants)
The Aska Co-Operative Central Bank Ltd., Aska
Sheragada Branch (014)
Concurrent Audit Report, for the month of from 1st September 2024 to 30th September 2024

01. Name of the Central Co-operative Bank The Aska Cooperative Central Bank Ltd.
02. Name of the Branch with Address The Sheragada Branch
At/PO:Sheragada, Dist. Ganjam
03. Name of the Auditor with Designation BAPS& ASSOCIATES
Chartered Accountants.
4. (i) Days Taken for Audit Days taken as on previous month= 40 days
Days taken during the months = 08 days
Total days taken = 48 days.
(ii) Period cover under Audit 01.09.2024 to 30.09.2024
05. Name and Designation of the Branch 1.Sri. Sanoja Bishoyi, Branch Manager
Manager & the other staff during the 2.Sri Purushottam Sethy, Asst. Manager.
period covered under Audit 3.Sri, Balaram Pradhan, Cashier
4.Sri Aditya Kumar Tripathy, D.E.O.
5.Sri Niladri Bihari Sahu. D.E.O
6.Smt. Lalimita Panigrahi, Contingent Peon
06. Person with designation appointed during No such appointment has been made
the period covered under audit whether during the period under audit.
their appointments are legally and regularly
made (Vide circular on illegal appointment)

07. Verification of cash balance at the time of We have Physically verified the closing cash
commencement of audit or any time in balance on dated 13.09.2024 of Rs.
between & result of cash verification. The 10,64,164/-(Rupee Ten lakh sixty four
auditor should also offer his comment/ thousand one hundred sixty four only) & on
observation whether the cash retention is date 23.09.2024 Physically verified the
within limit fixed by the bank; there is closing cash balance of Rs. 18,68,367/-
adequate insurance cover, whether under (Rupee Eighteen lakh sixty eight thousand
three hundred sixty seven only) with double
double lock & whether during period
lock officer Sri. Purushottam Sethy,
covered by audit the cash balance of any
Manager & Sri. Balaram Pradhan, Cashier
day was verified by the Bank supervising
and found agreed with the Book Balance
officer. being the closing cash balance of. The cash
balance within the prescribe limit as fixed
by the Bank i.e 30.00 lakh there is adequate
insurance cover & the cash maintained in
effective & joint custody.
T Verification of Current short –term deposits The Branch has not maintain short term
with other bank & check the same with deposit with other banks. But the branch has
verified balance if available.(absence of maintained Current account with SBI
certified balance should itself, be an audit Sheragada Branch. Wherein the of closing
comment & responsibility itself be an audit balance remains of Rs.10,44,375.88 and
comment & responsibility be fixed on the other commercial bank of Rs.7,68,287.90 as
on 30.09.2024 which has confirmed with the
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 BAPS& ASSOCIATES
(Chartered Accountants)
The Aska Co-Operative Central Bank Ltd., Aska
Sheragada Branch (014)
Concurrent Audit Report, for the month of from 1st September 2024 to 30th September 2024

B.M for the same) statement of accounts issued by the Banker.

9. Result of verification of cash balance at least for 2 days in the period of concurrent Audit.
Date of verification :13.09.2024 Date of verification : 23.09.2024
Physically verified the closing cash balance Physically verified the closing cash balance
of Rs.10,64,164/-(Rupee Ten lakh sixty of Rs. 18,68,367/-(Rupee Eighteen lakh
four thousand one hundred sixty four only) sixty eight thousand three hundred sixty
with double lock officer Sri. Purushottam seven only) with double lock officer Sri.
Sethy, Manager & Sri. Balaram Pradhan, Purushottam Sethy, Manager & Sri.
Cashier being the closing balance on Balaram Pradhan, Cashier being the closing
13.09.2024 and found agreed with book balance on 23.09.2024 and found agreed
balance. with book balance.
Denomination & Nos Total Amount: Denomination & Nos Total Amount:
Denominat Nos Total Amount Denominat Nos Total Amount
ion (Rs.) ion (Rs.)
2000 00 00.00 2000 00 00.00
500 1957 9,78,500.00 500 3027 15,13,500.00
200 302 60,400.00 200 1406 2,81,200.00
100 154 15,400.00 100 665 66,500.00
50 67 3,350.00 50 114 5,700.00
20 298 5,960.00 20 34 680.00
10 55 550.00 10 78 780.00
Coins 04 04.00 Coins 07 07.00
Total 10,64,164.00 Total 18,68,367.00
10. Proper accounting of currency chest No such transaction carried out at branch
transaction its prompt reporting to R.B.I. level during the period covered under audit.
11. Expenses incurred by cash payment No Such expenses incurred by cash
involving sizable amount whether such payment involving sizable amount during
expenditure is authorize by the appropriate the period covered under audit.
the appropriate authority.
12. LOAN AND ADVANCES :-
Total (Type wise) Loan and advances disbursed during the period covered under audit.
The following loans and advances are disbursed during the month under audit.
Sl A/c Particulars Amount.
No. Code
01. 121 ST(SAO) SF Loans to Co-op institutions. Rs.33,01,100.00
02. 131 C.C loans (ferti) loans to Co-op institutions Rs.4,59,5943.00
03. 136 ST (Bridge) loans to Co-op institutions Rs.00.00
04. 142 C.C. Loans (indvls) loans Rs.59,39,328.00
05. 143 Gold Loan Rs.00.00
06. 144 Loans against Deposit Rs.2,12,074.00
07. 147 M.T Loan (FS) to Co-op institutions Rs.00.00
08. 148 MT(NFS) loan to CS Rs.00.00

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 BAPS& ASSOCIATES
(Chartered Accountants)
The Aska Co-Operative Central Bank Ltd., Aska
Sheragada Branch (014)
Concurrent Audit Report, for the month of from 1st September 2024 to 30th September 2024

09. 154 MT (NFS) loan to indvls (SRTO) Rs.00.00

10. 155 MT (NA) loan to indvls Rs.00.00
11. 157 SHG Loans Rs.00.00
12. 158 LT(FS) loan to co- inst. Rs.00.00
13 170 LT Housing Rs.1,00,000.00
i. Whether loans applied in proper form. Yes, all loans applied in proper form
prescribed by the Head office
ii. Whether there was proper credit Yes, the bank has made proper credit
appraisal as per norms prescribed by the appraisal as per norm prescribed by the
Bank. What did you observed as major bank. No such major deficiencies in credit
deficiencies in credit appraisal (Give case appraisal noticed during the month under
wise details in brief). audit.
iii. Whether any credit facility extended No such credit facility extended beyond the
beyond the power & jurisdiction of Branch power and jurisdiction of Branch Manager.
Manager, give details if any.
iv. Whether overdrafts, over drawls No , such overdrafts, over drawls allowed in
allowed in cash credits. Give case wise cash credit.
details , fixing responsibility for the
deviation, if any
v. Whether loan files are disposed off Yes, all loan files are disposed by the Branch
through committees approach? Manager.

vi. Cash of illegal finance where amount No such cases of illegal finance where
disbursed without complying terms & amounts disbursed without complying
conditions of sanction and without terms and conditions of sanction and
adequate security, mortgage & registration without proper documentation & without
formalities etc . Give details, if any. adequate security have been noticed.
vii. Collection of NPA loan & advances The NPA register maintains by the branch at
during the period covered under the ending of the year.
concurrent Audit.
viii. Comment on Top Twenty Loans A/cs. The Branch has not displayed / Updated of
Such list in the office notice Board.
ix. Monthly calculation of interest of loan The calculation of interest on loan accounts
accounts and checking of such interest are found correct and as per latest RBI
calculation (as per latest R.B.I guidelines guidelines, the interest has been calculated
interest has to be calculated on monthly on monthly, Quarterly, and Yearly rest basis
rest basis from 2003-04 accounts and as the same has been done with the system
ensure that there is no revenue leakage. as per package.
x. Verify whether there is any miss – No such instances noticed during the period
utilization of loans & whether there are covered under audit, post dated inquiry has
instances indicative of diversion of funds or not been conducted by the branch.

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 BAPS& ASSOCIATES
(Chartered Accountants)
The Aska Co-Operative Central Bank Ltd., Aska
Sheragada Branch (014)
Concurrent Audit Report, for the month of from 1st September 2024 to 30th September 2024

not.
xi. Whether classification of advances & Yes, usually the classification of advances &
income booking has been done as per R.B.I income booking has been done as per R.B.I
guidelines. guidelines at the year ending of the year.
xi. Whether classification of advances & Yes, usually the classification of advances &
income booking has been done as per R.B.I income booking has been done as per R.B.I
guidelines. guidelines at the year ending of the year.
xii. verify that instances of exceeding No such instances of exceeding delegation
delegation powers have been promptly powers during the period covered under
reported to controlling / Head office by audit.
Branch and have been confirmed or
rectified at the required level.
xiii. Suggestion for legal action in respect of No such legal action initiated by Branch, in
sticky advances & status of cases where respect of sticky advances during the period
legal action has been initiated. covered under audit.
xiv. Issue of demand notice to defaulted No such demand notice has been issued to
loanees. defaulters during the month under audit.
xv. No of demand notice issued during the No such demand notice has been issued to
month . the defaulters during the month under
audit.
xvi. No of days visited to defaulted loanees No such visit note book has been
by Branch manager / Field officer during maintained by the Branch Bank of
the month. Manager/Field officer.
xvii. Comment on advance to staff Directors No such advances allowed to staff or
and their near relatives. directors during the period month of audit.
Xviii. Comment of Agricultural Finance & Out of total loan finance maximum loan for
advances to Cooperative Societies ( Not Agricultural purpose.
applied to urban Co-operative Banks)
13 Deposits:-
i. Types. The Branch has undertaken different type
of deposit business like SB,RD,RID,FD and
Current deposit etc.
ii. Calculation of monthly interest. The Calculations of interest on deposit
accounts are found correct. The interest has
been calculated on monthly, Quarterly and
Yearly rest basis as the same has been done
with the system package.
iii. S.L.R & C.R.R. violation No SLR & CRR maintained at branch level
and it is being maintained by the Head
office.
iv. Extent of development of funds. No such development of funds at branch

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 BAPS& ASSOCIATES
(Chartered Accountants)
The Aska Co-Operative Central Bank Ltd., Aska
Sheragada Branch (014)
Concurrent Audit Report, for the month of from 1st September 2024 to 30th September 2024

level, it is being done at ACCB , HO level.

14. 100% checking of interest paid on deposit Random checking has been made due to
above Rs.500/- may be made including want of time and found correct.
calculation of interest on O.D amount.
15 Check new accounts opened particularly The branch comply the KYC , AML & CFT
current accounts. Operations in new norms for the old depositors account as and
current, SB accounts may be verified in the when. No such unusual operation noticed
initial stage period to see whether there during the month covered under audit for
are any unusual operations. the above accounts.
a) Details of Fictitious/Benami A/c opened. No Such.
b) Details of abnormal /transition of No Such.
suspicious nature in any A/Cs.
16 Compliance on KYC & AML norms. The Branch is yet to comply the KYC , AML
& CFT norms for the old depositor’s
accounts.
17 Comment on dual control of Deposit Yes, dual control system for the lockers.
lockers.
18 Issue of cheque Book. Cheque Book issue register has been
maintained.
19 Comment on bills No such bill business has been dealt during
the period under audit.
20 Comment on dormant accounts It has not been maintained with the system
package. But the Branch has maintained the
dormant accounts separately.
21 Submit particulars of frauds, No, such fraud and misappropriation
misappropriation, etc. if any committed noticed during the period covered under
during the period covered under audit. audit.
22 Accounting errors found during audit Some accounting errors are rectified during
whether complied during audit and if the course of audit and the other un –
violations. Any other serious lacunas / complied errors furnished in defect sheet.
deficiencies noticed.
23 Comment on deposit accounts of staff & The declaration forms in respect of staff
Directors. deposits are not produced before the audit.
24 Credit Management:
i. Fresh slippage to NPA in the reporting The NPA register maintains by the branch at
period (above 1 Ladkh) the ending of the year.
Name of the Party A/c No . Amount. Whether A/c was reported under Special
mention Account Earlier.
ii. Account showing warning signal but not Such type of account has not been
reported under S.M.A maintained by the branch as yet.
Name of A/c Account

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 BAPS& ASSOCIATES
(Chartered Accountants)
The Aska Co-Operative Central Bank Ltd., Aska
Sheragada Branch (014)
Concurrent Audit Report, for the month of from 1st September 2024 to 30th September 2024

Amount
iii. Missing title deeds No such cases are noticed.
iv. Time barred documents (pertaining to No such cash are noticed.
the reporting period)
v. Any large account (over 10 lakh) over There is no such account.
due for renewal / revival.
25 Comment on non –fund business, B.G.I.C No such business has been under taken by
commission , etc. the branch.
26 Balance & Reconciliation
(A) Whether all subsidiaries & ledgers Yes, all subsidiaries & ledgers balanced at
balanced at the end of the previous month the end of the previous month & all the
& all the accounts reconciled with Day accounts reconciled with Day Book &
Book & Ledgers. If not responsibility be Ledgers excepting Branch adjustment
fixed with details. account with H.O.
(B) Monthly inter branch reconciliation Monthly inter branch reconciliation with
with H.O H.O has not yet been attended by the
branch which should be ensured forthwith.
(C) Reconciliation of clearing Accounts: No such clearing account operated by the
branch as yet.
27 Defects observed / noticed during course
of audit.
i. Instant rectification of defects. The defects pointed out during the course
of audit have been rectified then and there.
ii. Defects left un- complied. Un-complied defects have been furnished in
defect sheet separately for rectification by
the branch.
iii. Whether any H.M.M has been issued ( it No compliance report on defects pointed
the concurrent auditor finds that the out in the interim & monthly concurrent
observations are not completed with any audit have been submitted to the proper
reason he may record & submit the same quarters and the rectification is as yet to be
through H.M.M to concerned B.M /M.D submitted.
with a copy to the A.G.C.S for rectification)
28 Correction & timeliness in submission of It is being submitted in time
control returns.
29 Comment on observance of policy Not appear so.
guidelines, banking norms, circulars of the
Bank & higher quarters.
30 Compliance to the Audit defects. It has not been complied.
31 Whenever serious irregularities are No such instances noticed.
observed, these have to be immediately
reported to M.D /A.G.C.S(O).

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 BAPS& ASSOCIATES
(Chartered Accountants)
The Aska Co-Operative Central Bank Ltd., Aska
Sheragada Branch (014)
Concurrent Audit Report, for the month of from 1st September 2024 to 30th September 2024

i. Acts of corruption and bribery on the part No such instances noticed.

of branch officials.
ii. Frauds & Misappropriation No such instances noticed.
iii. Abuse of power to get pecuniary No such instances noticed.
benefits at the expenses of the Bank.
iv. Any other malpractices. No such instances noticed.
32 Comment on correctness of maintenance These are being maintained properly with
of books of accounts Bank Book , Day Book, the system.
G.L & Subsidiaries.
33. R.E statement along with defect sheet The Trial Balance statement along with
(signed by the B.M, Accountant and Auditor defect sheet is enclosed.
to be attached).
34 The Concurrent Auditor will have to certify Certified that the transaction, (period cover
that , the transaction , (period cover under under audit) or decision is within the policy
audit) or decisions are within the policy parameters of the Bank & R.B.I subject to
parameters of the Bank & R.B.I. the remarks given in the report.

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 BAPS& ASSOCIATES
(Chartered Accountants)
The Aska Co-Operative Central Bank Ltd., Aska
Sheragada Branch (014)
Concurrent Audit Report, for the month of from 1st September 2024 to 30th September 2024

Disclosers/Defects noticed during course of audit:

1. As per Rule58 (A)(3) of the OCS Rules 1965, the Branch Bank are required to comply
the defects noticed in the final concurrent audit report for the year 2022-23 & 2023-24
and the monthly concurrent audit reports relating to the year 2024-25, but till date the
branch bank has not yet complied the defects noticed.

2. There is no effective step for realization of the old overdue loans under code No.142,
143,147,154&158. The Branch Manager is advised to initiate legal action against chronic
defaulters.

3. Steps should be taken to maintain N.P.A register on monthly basis with the computer
system.

4. While giving extra 1% interest benefit to the staff/ex-staff and depended of the staff of
the Bank, the bank has not obtained the declaration from the deposit holders.

5. Branch adjustment account is not being reconciled soon after completion of every month
in regular interval. As there are possibilities of fraud and misappropriation etc. by
manipulating under this head of accounts, it insured. Branch adjustment (0177) Balance
at the end of the month Rs.26,42,79,877.57, But it is not practice of the branch to produce
the reconciliation statement of the said account before the Concurrent audit in every
month regularly even after repeated instruction from H.O. and comment in the concurrent
audit report.

6. The branch official should be inspected and monthly cash verification of PACS .in time
with a view to control over the societies.

7. Steps may be taken to clean seen the suspense payable account Rs.7,20,766.49, under
code 287, suspense recoverable account Rs.5,74,958.32, under code 183 and compliance
be reported.

8. Legal action need to be taken for realization of overdue loans. Special attention need be
taken in this regard.

9. Many safe guards not followed in the loans and advances irrespective of EP and dispute.

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 BAPS& ASSOCIATES
(Chartered Accountants)
The Aska Co-Operative Central Bank Ltd., Aska
Sheragada Branch (014)
Concurrent Audit Report, for the month of from 1st September 2024 to 30th September 2024

10. The Branch is required to review the present status of the loans forthwith and steps be
taken to made collection much higher to achieve the limit 5% prescribed by NABARD.

11. Proper steps meant to be taken for realization of outstanding remain after action sale of
gold ornaments under code no-143.
12. Difference Noticed an amount of Rs 5,000.00 under pigmy deposit(0233) similarly an
amount of Rs 2,419.00 under LAD (144) and Rs. 2,074 under Mo Ghara (1703) and Rs.
17,562 under Mission shakti scooter yojana (150) has shown difference between schedule
Vs GL Balance as 30.09.2024. Steps need to be taken for its reconciliation in this regard.

CERTIFICATE
I have checked all the relevant books and records and files relating to all the transactions made
during the period under audit subject to the remarks given in the report.

UDIN- BAPS& ASSOCIATES

Date:- (Concurrent Auditor)