- Bills are drawn under every LC, but if the LC is expired then such Bills hold no assurance.

In addition to that,
expired but not closed LCs create unnecessary contingent liabilities for the bank.

- Such LCs should be closed before the Balance Sheet date to avoid misrepresentation.

8. DCQRY ( Query on Documentary Credit)

- This menu generates the list of all inland/foreign LCs issued during the given period.

- The documents regarding all such LCs and the commission charged thereon can be easily verified from this
menu.

- Auditor can also check if the details entered in the system are as mentioned in the documents.

- This menu is easy because it shows the list of both Inward and Outward Documentary Credits, thus the Auditor
does not have to verify one by one LC from IDCM or ODCM menu options. Each LC can be verified from this
menu.

9. EXCPRPT (Exception Report)

- This is a very interesting menu. Many banks have zero tolerance norms regarding generation of Exception
Report everyday in their branches.

- As the name suggests, it generates the list of exceptional financial and non-financial transactions during the
given period. Exceptional transactions such as activities in accounts which are due for review, advance balance
greater than the Sanctioned Limit, accounts opened without introducers, system generated commission changed
manually etc.

- Auditor should verify such transactions and report any material irregularity observed.

10. GR (Generate Report)

- This menu generates the balance sheet and profit and loss account of the bank branch on a given date.

- This menu can effectively be used to figure out daily balance of advances and deposits of the bank. Major
expenses can also be checked and provision of interest accrued and Non Performing Asset can be verified.

- Sudden increase in advances and deposits just before the balance sheet date should be verified to check any
window dressing done by the branch.

11. FTI (Financial Transaction Inquiry)

- It allows searching the details of a transaction by its Transaction ID.

- List of transactions between ranges of amounts can also be generated from this menu.

- High value transactions which suddenly increased the advance or suspicious transactions such as cash deposit of
Rs. 49,999/- or Rs. 99,999/- can be seen and verified from this menu.

12. ACDREV (Accounts Due for Review)

- As per RBI master circular RBI/2013-14/62 dated 01/07/2013, accounts where the regular/ ad hoc credit limits
have not been reviewed/ renewed within 180 days from the due date/ date of sanction should be treated as NPA.