SRINAGAR: The Jammu and Kashmir Finance Department has constituted a committee to undertake a comprehensive review of the treasury deposit system operating across all treasuries in the Union Territory, with a mandate to recommend administrative, financial and technological reforms within 15 days.
According to Order No. 105-Accts of 2026, the committee will examine the existing framework governing treasury deposits, including security deposits, revenue deposits and other categories maintained in government treasuries.
The panel comprises the Director, Accounts and Treasuries, Jammu; Director, Accounts and Treasuries, Kashmir; Treasury Officers of Saddar Treasury Jammu, Saddar Treasury Srinagar and Civil Secretariat Treasury; the Accounts Officer, Treasury Administration (DGAT); and a representative from the National Informatics Centre (JKIFMS Project).
The committee has been tasked with reviewing the accounting provisions governing treasury deposits under the General Financial Rules (GFR), Treasury Code and other applicable regulations. It will also examine existing procedures relating to the receipt, refund, adjustment, reconciliation and accounting of treasury deposits.
In addition, the panel will identify long-pending and unclaimed treasury deposits and recommend an appropriate mechanism for their disposal.
The order further directs the committee to assess the functionality available in JKPAYSYS/Treasury Net and recommend IT-enabled reforms for end-to-end digital management of treasury deposits to strengthen financial control and audit compliance. It has also been asked to suggest amendments, where necessary, to existing rules, standing orders and departmental instructions governing treasury deposits.
The committee has been directed to submit its report, along with actionable recommendations, to the Directorate General of Accounts and Treasuries within 15 days of the issuance of the order. It may also co-opt any officer or technical expert, if required, to complete the assignment.
