Beruflich Dokumente
Kultur Dokumente
The Bureau of Indian Standards (BIS) is the national Standards Body of India working under
the aegis of Ministry of Consumer Affairs, Food & Public Distribution, Government of India. It
is established by the Bureau of Indian Standards Act, 1986 which came into effect on 23
December 1986.[2] The Minister in charge of the Ministry or Department having administrative
control of the BIS is the ex-officio President of the BIS.
The organisation was formerly the Indian Standards Institution (ISI), set up under the
Resolution of the then Department of Industries and Supplies No. 1 Std.(4)/45, dated 3
September 1946. The ISI was registered under the Societies Registration Act, 1860.
As a corporate body, it has 25 members drawn from Central or State Governments, industry,
scientific and research institutions, and consumer organisations. Its headquarters are in New
Delhi, with regional offices in Kolkata, Chennai, Mumbai, Chandigarh and Delhiand 20 branch
offices. It also works as WTO-TBT enquiry point for India.[3]
BIS has identified 14 sectors which are important to Indian Industry. For formulation of Indian
Standard, it has separate Division Council to oversee and supervise the work. The Standards are
regularly reviewed and formulated in line with the technological development to maintain
harmony with the International Standards.
Laboratories[edit]
To support the activities of product certification, BIS has a chain of 8 laboratories. These
laboratories have established testing facilities for products of chemical, food, electrical and
mechanical disciplines. Approximately, 25000 samples are being tested in the BIS laboratories
every year. In certain cases where it is economically not feasible to develop test facilities in BIS
laboratories and also for other reasons like overloading of samples, equipment being out of order,
the services of outside approved laboratories are also being availed. Except for the two labs, all
the other labs are NABL (National Accreditation Board for Testing and Calibration
Laboratiories) accredited. It operates a laboratory recognition scheme also.
Product Certification Scheme[edit]
Product Certifications are to be obtained voluntarily. For, some of the products like Milk powder,
Drinking Water, LPG Cylinders, Thermometers etc., certification is mandatory. Because these
products are concerned with health and safety.[4]
For foreign manufacturers[edit]
All foreign manufacturers of products who intend to export to India are required to obtain a BIS
product certification license. Towards this, BIS launched its Product Certification Scheme for
overseas manufacturers in the year 1999. Under the provisions of this scheme, foreign
manufacturers can seek certification from BIS for marking their product(s) with BIS Standard
Mark. If or otherwise, the foreign manufacturer has not signed an MoU with BIS, it has to set up
a liaison office in India with the permission of Reserve Bank of India. Otherwise, an authorised
representative or agent needs to be appointed by the foreign firm.[5]
Grievance Cell[edit]
If any customer reports about the degraded quality of any certified product at Grievance Cell,
BIS HQs, BIS gives redressal to the customer.
The Bureau to perform its functions through a governing council, which will consist of
President and other members.
To include goods, services and systems, besides articles and processes under the
standardization regime.
To enable the government to bring under the mandatory certification regime for such
articles, processes or service which it considers necessary from the point of view of health,
safety, environment, prevention of deceptive practices, consumer security etc. This will help
consumers receive ISI certified products and will also help in prevention of import of substandard products.
To allow multiple types of simplified conformity assessment schemes including selfdeclaration of conformity (SDOC) against any standard which will give multiple simplified
options to manufacturers to adhere to standards and get a certificate of conformity, thus
improving the 'ease of doing business'.
To enable the Central Government to appoint any authority in addition to the Bureau of
Indian Standards, to verify the conformity of products and services to a standard and issue
certificate of conformity.
To strengthen penal provisions for better effective compliance and enable compounding
of offences for violations.
To provide recall, including product liability of products bearing the Standard Mark, but
not conforming to relevant Indian Standards.
The Bureau of Indian Standards Act 2016 received the assent of the President on 21
March 2016[10]
Standardization is the process of formulating and applying rules for an orderly approach to a
specific activity for the benefit and with the cooperation of all concerned, and in particular for
the promotion of optimum overall economy taking due account of functional conditions and
safety requirements. It is based on the consolidated results of science, technique and experience.
Under the Bureau of Indian Standards Act, 1986, Bureau establishes Indian Standards in relation
to any article or process and amends, revises or cancels the standards so established as may be
necessary, by a process of consultation involving consumers, manufacturers, Government and
regulatory bodies, technologists, scientists and testing laboratories through duly constituted
committees of the Bureau.
For formulation of Indian Standards, BIS functions through the Technical Committee structure
comprising of Division Councils, Sectional Committees, Subcommittees and Panels. Division
Councils are set up by Standards Advisory Committee (SAC) in defined areas of industries and
technologies for formulation of standards. These include representatives of various interests such
as consumers, regulatory and other Government bodies, industry, scientists, technologists, testing
organizations and consultants. BIS officer is the Member Secretary of the Division Council. The
Division Councils setup Sectional Committees within their areas, define their scopes, appoint
their Chairmen and members and coordinate their activities.
There are 14 Division Councils and over 650 Technical Committees that have so far
developed over 19000 Indian Standards. Over 350 new and revised standards are being
formulated each year by BIS. Indian Standards formulated by BIS cover various aspects such as
product standards (specifications), methods of test, codes of practice, guides, recommendations,
terminology, dimensions, symbols etc.
The committee structure of BIS seeks to bring together all those with substantial interest in
particular project, so that standards are developed keeping in view national interests and after
taking into account all significant view points through a process of consultation. Decisions in
BIS technical committees are reached through consensus. As a policy, the standards formulation
activity of BIS has been harmonized as far as possible with the relevant guidelines as laid down
by the International Organization for Standardization (ISO). BIS, being a signatory to the 'Code
of Good Practice for the preparation, adoption and application of standards (Article 4 of WTOTBT Agreement, Annex 3)' has also accordingly aligned its standards formulation procedure.
CASH AND BANK ACTIVITES
Large retailers who collect a great deal of cash may have the bank pick this cash up via
an armored car company, instead of asking its employees to deposit the cash.
Automated clearing house
Usually offered by the cash management division of a bank. The automated clearing house is an
electronic system used to transfer funds between banks. Companies use this to pay others,
especially employees (this is how direct deposit works). Certain companies also use it to collect
funds from customers (this is generally how automatic payment plans work). This system is
criticized by some consumer advocacy groups, because under this system banks assume that the
company initiating the debit is correct until proven otherwise.
Balance reporting
Corporate clients who actively manage their cash balances usually subscribe to secure web-based
reporting of their account and transaction information at their lead bank. These sophisticated
compilations of banking activity may include balances in foreign currencies, as well as those at
other banks. They include information on cash positions as well as 'float' (e.g., checks in the
process of collection). Finally, they offer transaction-specific details on all forms of payment
activity, including deposits, checks, wire transfers in and out, ACH (automated clearinghouse
debits and credits), investments, etc.
Cash concentration services
Large or national chain retailers often are in areas where their primary bank does not have
branches. Therefore, they open bank accounts at various local banks in the area. To prevent funds
in these accounts from being idle and not earning sufficient interest, many of these companies
have an agreement set with their primary bank, whereby their primary bank uses the automated
clearing house to electronically "pull" the money from these banks into a single interest-bearing
bank account. See also: Cash concentration.
Controlled disbursement
This is another product offered by banks under Cash Management Services. The bank provides a
daily report, typically early in the day, that provides the amount of disbursements that will be
charged to the customer's account. This early knowledge of daily funds requirement allows the
customer to invest any surplus in intraday investment opportunities, typically money market
investments. This is different from delayed disbursements, where payments are issued through a
remote branch of a bank and customer is able to delay the payment due to increased float time.
Lockboxwholesale services
Often companies (such as utilities) which receive a large number of payments via checks in the
mail have the bank set up a post office box for them, open their mail, and deposit any checks
found. This is referred to as a "lockbox" service.
Lockboxretail services
are for companies with small numbers of payments, sometimes with detailed requirements for
processing. This might be a company like a dentist's office or small manufacturing company.
Positive pay
Positive pay is a service whereby the company electronically shares its check register of all
written checks with the bank. The bank therefore will only pay checks listed in that register, with
exactly the same specifications as listed in the register (amount, payee, serial number, etc.). This
system dramatically reduces check fraud.
Reverse positive pay
Reverse positive pay is similar to positive pay, but the process is reversed, with the company, not
the bank, maintaining the list of checks issued. When checks are presented for payment and clear
through the Federal Reserve System, the Federal Reserve prepares a file of the checks' account
numbers, serial numbers, and dollar amounts and sends the file to the bank. In reverse positive
pay, the bank sends that file to the company, where the company compares the information to its
internal records. The company lets the bank know which checks match its internal information,
and the bank pays those items. The bank then researches the checks that do not match, corrects
any misreads or encoding errors, and determines if any items are fraudulent. The bank pays only
"true" exceptions, that is, those that can be reconciled with the company's files.
Sweep accounts
Sweep accounts are typically offered by the cash management division of a bank. Under this
system, excess funds from a company's bank accounts are automatically moved into a money
market mutual fund overnight, and then moved back the next morning. This allows them to earn
interest overnight. This is the primary use of money market mutual funds.
Zero balance account
A Zero balance account can be thought of as somewhat of a hack. Companies with large numbers
of stores or locations can very often be confused if all those stores are depositing into a single
bank account. Traditionally, it would be impossible to know which deposits were from which
stores without seeking to view images of those deposits. To help correct this problem, banks
developed a system where each store is given their own bank account, but all the money
deposited into the individual store accounts are automatically moved or swept into the company's
main bank account. This allows the company to look at individual statements for each store. U.S.
banks are almost all converting their systems so that companies can tell which store made a
particular deposit, even if these deposits are all deposited into a single account. Therefore, zero
balance accounting is being used less frequently.
Wire transfer
A wire transfer is an electronic transfer of funds. Wire transfers can be done by a simple bank
account transfer, or by a transfer of cash at a cash office. Bank wire transfers are often the most
expedient method for transferring funds between bank accounts. A bank wire transfer is a
message to the receiving bank requesting them to effect payment in accordance with the
instructions given. The message also includes settlement instructions. The actual wire transfer
itself is virtually instantaneous, requiring no longer for transmission than a telephone call.
In the past, other services have been offered the usefulness of which has diminished with the rise
of the Internet. For example, companies could have daily faxes of their most recent transactions
or be sent CD-ROMs of images of their cashed checks.
Cash management services can be costly but usually the cost to a company is outweighed by the
benefits: cost savings, accuracy, efficiencies, etc.
Vouchers preparation
VOUCHER
Voucher is first account record which is to be prepared by the accountant with the help of source
document. Every voucher has debit and credit part. It means that according to the nature of
transaction one account is to be debited while other account is to be credited. Voucher is the very
primary record to show the authenticity of the transactions.
Voucher is the base of the accounting records. At the time of preparation of voucher, the
accountant must assign the correct account head otherwise every thing will be wrong and will
result into wrong information. Therefore, every voucher is checked by some supervisor to avoid
the mistakes.
Every voucher must be signed by the accountant and the supervisor and must be supported with
proof of transaction. Generally, the following types of vouchers are prepared in a business firm:-
When making payments to another business you need to confirm that the account you
intend to make the payment into belongs to your supplier or customer. By making the
link between the businesses you deal with and their bank account you will ensure that
you only make payments to the correct beneficiaries.
Who's it for?
Bank Wizard Absolute for checking business bank account data is for any organisation
that is making business to business payments. Those who wish to avoid invoice fraud
when paying suppliers can use Bank Wizard Absolute to check bank account data at
point of supplier set up, when a change of bank account information is sent or when a
payment is being made. For companies that make payments for business loans,
insurance claims or business grants using Bank Wizard Absolute will make sure that
you pay your genuine customers.
Key features
Real-time verification checks business bank account ownership without
How it works
Bank Wizard Absolute compares the business bank account information you enter
against the bank account records that we hold. A validation is carried out to check for
error that can be caused by mis-hearing or mis-keying, the data is then verified to give
you a score that you can easily interpret to confirm that the bank account belongs to the
business you wish to send a payment to.
Collections verification