STATE BANK OF INDIA OFFICERS ASSOCIATION [Chennai Circle] State Bank Buildings, Telephone : # 84, Rajaji Salai, Post Box No.

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1 STATE BANK OF INDIA OFFICERS ASSOCIATION [Chennai Circle] State Bank Buildings, Telephone : # 84, Rajaji Salai, Post Box No.1992, Fax : Chennai Telegram : SUPSTAFF sbioacc@yahoo.com Website: Circular to All Unit Secretaries / Members: No. 56 /82/ th December, 2013 YOU SHOULD KNOW - 3 Dear Comrades, We are happy that the You should know series, we have started has continuously been received with a lot of enthusiasm. We have been receiving several mails appreciating the effort and a few have sought clarifications on a few points. We append at the end of the circular our clarification to a point raised by some of our comrades. We, now elucidate on the role and responsibilities of Cash Officers in this circular to help our comrades perform the role more effectively. As the nomenclature Cash Officer is very liberally used in our Bank, we restrict ourselves to the role and responsibilities of our Officer Comrades who work as Cash Officer at Currency Chest Branches. CASH OFFICERS: Roles and Responsibilities: In all Currency Chest Branches an officer will discharge the duties of Cash Officer. He shall be responsible for the effective functioning of the cash department of the Branch. He shall i. Be the joint custodian of Cash and other valuables like Gold, Gold ornaments, Safe Deposit Articles and Security Forms other than Cheque books. ii. iii. iv. Supply cash/ cash boxes to SWOs in the morning. Take possession of excess/ surplus cash or deliver/ supply cash from/ to SWOs and bulk cashier(s), as and when required during the day. Complete EOD exercise for cash after completion of business hours Carry out surprise verification of the cash holding in the cash boxes of SWOs and carry out intra day cash verification at the SWO Counters. Ensure that all the notes received are shroffed and sorted into issuable and non- issuable notes. Arrange for sorting out ATM fit notes for delivery to CAC and Nodal Officer and remit Soiled Notes to the RBI, with the help of SWOs from time to time. v. Ensure that the non-issuable note bundles prepared are pasted with note slips duly signed by the SWOs on the top and bottom of the bundles confirming the quantity and quality of the notes. vi. vii. viii. ix. Liaise with RBI to manage cash inventory at the Branch, arrange for inward/ outward cash remittances from them. Arrange for receipt/ payment of bulk cash from important customers. Verify the purity and the weight of Gold offered as security by Gold loan customers and to keep Gold/ Gold ornaments after sanction in joint custody as per instructions Generate and check relevant reports. x. Ensure Weighing Balances Certificate are current and in order xi. xii. xiii. xiv. xv. Ensure operation of the Currency Chest as per norms. Keep the Currency Chest fitness Certificate current. Keep the Gun licenses current and diarise for timely renewal. Save the Cash related reports daily and keep a hard copy of all the reports properly filed for future reference. Verify the cash balance in the Currency Chest fortnightly. 1

2 RESPONSIBILITIES. i. Responsible for the correctness of the Branch Cash, Currency Chest and small coin depot balances. A bin card bearing details of daily deposit and withdrawal into/from the bin should be kept in each bin. ii. Responsible for the Branch Cash balance held in his single custody. iii. Responsibility for the custody and safety of all cash a. From the strong room until distribution while withdrawing. b. From the point of collection from SWOs until deposit in the strong room c. Held in the strong room jointly with the joint custodian. iv. Responsible for ensuring that each packet of notes of all denominations upto Rs. 100/- turned into the vault bears a note slip with date duly signed by the employee who prepared the note. The coin bag contained a similar slip prepared by the employee who prepared it. v. Responsible for ensuring that each packets of notes of Rs.500/- and above bears a note slip with date on the packets with the signature of the SWO who prepared it. vi. Responsible for the quantity in each packet of Rs. 500/- and above is 100 pieces. He should ensure that the quantities in each packets is 100 and affix his signature on the note slip for having recounted the packets. vii. Responsible for the quantity and quality of notes turned into the vault without the signature of SWOs on the note slips. viii. Responsible for proper conduct of work in the cash dept. and adequate safety measures for handling cash at the Branch. IMPORTANT REGISTERS TO BE MAINTAINED: 1. Currency Chest/ Strong room access Register. It is to be maintained to record the time of entry into/exit from the strong room of all persons, including staff members attached to the chest. The entries therein should be authenticated by the persons concerned and the Chest-in-Charge. 2. Currency Chest Register. The Register is maintained in duplicate, one copy is kept with the Cash Officer and the other is kept in the Vault. The balance in this register should tally with that in the Vault Register at all times. 3. Small Coins Depot Registers. The Register is maintained in duplicate, one copy is kept with the Cash Officer and the other is kept in the Vault.. 4. Passing Powers Register. The signature of every official/staff in the Branch together with his passing powers should be circulated to the Cash Department Staff so that they would be able to know the genuineness of the signature and their powers before making payment. 5. Intra-day Cash Verification Register A surprise check and verification of cash of SWOs should be carried out during the business hours and a record of the same has to be maintained for having carried out the Intra-day Cash Verification duly scrutinized by the Branch Head at monthly intervals. Evidence of verification has to be recorded. 2

3 6. Register for Verification of Contents of Cash Boxes of SWOs The verification of contents of cash boxes on the basis of system generated random list, should be carried out at the end of the day and a standard register to be maintained for this purpose. Further, the Cash Officer should verify the cash of all SWOs on Friday of each week without fail. 7. Register for Verification of Physical Cash Balance by Joint Custodian Fortnightly The physical verification of currency chest balance should be carried out fortnightly and tallied with. A separate standard register should be maintained for this purpose which should be perused by the Branch Head at regular intervals. Burglar Alarm Test Check Register The testing of burglar alarm on daily basis should be recorded in a standard register. The test check should be conducted at different counters on different dates at different times and recorded in detail with date, counter number and time. Cash Sorting Machine Register A standard register has to be maintained for recording number of sections sorted in the Sorting Machine and to verify the optimum usage of the machine for supplying quality notes to the general public. Other Important Registers. Branch Cash Balance Register Head Cashier Cash Jotting Book Cash Receipt Delivery Book Vault Register Petty Cash Register Cash Shortage/excess Register Gold Loan sanction Register Gold Loans In & Out Register Cash Remittance Register LSC/LBC/BBR Register Key handing over/ taking over Register Branch Cash Balance Book WORKFLOW RELATING TO CASH AT BRANCHES Beginning of the Day The Accountant enquires the opening balance of cash as per Finance One and verifies that it is equal to the closing balance of cash as recorded from BGL Account No.98903BBBBBC BBBBBC as at the previous evening. The Vault Custodian, Cash Officer and SWOs login and open their Cash drawers. Vault Custodian transfers Cash to Cash Officer. Cash Officer verifies and acknowledges receipt of cash. Cash Officer distributes the Cash to the SWOs who handle Cash transactions at the Branch. The receiving Teller verifies the Cash and acknowledges the same. During the day SWOs perform customer transactions, i.e. Receipts / Payments and swap denominations, etc. End of the Day SWOs tally the cash, generate cash reports and hand over the balance of cash/cash kept in the cash box along with the report to Cash Officer and Cash Officer acknowledges. 3

4 All the SWOs reconcile currency and close their respective Cash Drawers in the system. Cash Officer prints cash-related reports, tallies the cash and transfer cash to Vault Custodian and Vault Custodian verifies and acknowledges in the system. Cash Officer reconciles currency and closes his Cash Drawer after ensuring that all the SWOs cash drawers are closed. Vault Custodian reconciles the currency and closes his Cash Drawer. Cash Reports are printed and saved by the Cash Officer every day without fail. Integrated Computerised Currency Operations and Management System (ICCOMS) Reporting of Currency Chest Transactions through ICCOMS is done daily. Check the date in CCRS screen bottom line, it must be the date for which the data is to be entered Check the opening balance (binwise details & note category details) Complete the data entry of withdrawals / deposits - denomination/bin wise correctly Check the total balances and verify whether the amount is correctly entered Incase of any mistakes after commit, don t use send back menu for correction. Restore previous days data. Do EOD. Come to today s date and do data entry again. The following reports are to be saved and hard copy filed. Report Name Report No. Chest Slip Form T.E.2 SY 0409 Chest Register Form T.E.1 SY 0404 Currency Transaction Account SY 0406 Certificate of Notes & Coins held in Currency Chest SY 0407 Statement of Net Daily Withdrawal / Deposit For Currency Chest SY 0410 Position of Solid Notes SY 0413 Do s Have your PC with latest ICCOMS software Ver Antivirus Trendmicro is installed and is up-to-date. Confirm previous days reported figure is matched with FSLO extracted figure. Verify opening balance daily and then start days transactions. If RBI website is inaccessible, fax Chest Slip to FSLO for data entry If internet connection is available in stand alone PC, upload the required files to RBI website after copying the required data files in a floppy from ICCOMS PC. If wrong transactions are reported or if there is an error in balance, please reverse/rectify the entries the next day, itself through proper menu options. RBI levies Penalty from the date of mistake to the date of rectification and also for wrong reporting, delayed reporting and non-reporting. Next morning CHECK whether your data is reflected correctly in LO Report Remittances from/to RBI and diversions from/to Chest-to-(nearby) Chest are to be accounted in CBS (A/c No.98958bbbbbC) CT-to-CT-Transfer. Verify DAILY that the balances in BGL a/c 98958BBBBBC, ICCOMS and Currency Chest (Physical) balances are tallied. Verify Reports and look for any discrepancy between ICCOMS figure and CDC reports like Chest Report CFpd0404, Chest Slip CFpd0403 4

5 Update Chest Slip Number and SCD Slip No. in ICCOMS Software. Educate acting Cash Officers to handle the software when you are on leave. Dont s Do not show Remittance as Deposit and Soiled remittance as Withdrawal. Do not put through any accounting (Br.Clg.) entries for Chest-to-Chest Currency Transfer. Do not authorize unless verified. Maker-Checker concept is to be ensured (i.e. Chest Slip writer should enter the data as DEO and Cash Officer should authorise as AUTH ). Do not use Send-back option, which will inflate/deflate figures in chest slip, without updating the software. Instead of send back, do rectification entry (or) restore previous day s file. GOLD LOANS Systems and Procedures laid down in regard to KYC Norms, appraisal, sanction, Joint custody of ornaments and follow-up of Gold Loans should be complied with meticulously. Cash Officer is purely responsible for the purity of the ornaments pledged. Testing of ornaments by touch stone method; nitric acid and specific gravity method etc. should be meticulously carried out for finding the purity of ornaments. Ornaments with alphabetic initials/names should not be accepted. Balance the No. of Gold loan A/cs with the Loan Balance File and also Gold Loan In/Out Register at Monthly intervals. Reputed Jewel Appraiser s services for testing of gold ornaments for purity should be carried out for loans exceeding Rs.1.00 lac and his certificate should be obtained and kept on record at borrower s cost. Ensure that no loans are granted against gold bar/bullion. The repayment period for Gold loan should not be more than 30 months. Every effort in follow-up of gold loan advances should be made and record the efforts made. Ensure that no gold loan account turns to be NPA. Ensure adequate insurance coverage for gold ornaments. Ensure that the customer is not misutilising the gold loan facility. Sale of Ornaments A notice of auction should be sent to the borrower by Registered Post AD at this recorded address. A notice containing details of account number, ornaments (except the name of the borrower) will be put up in the notice board. The postal acknowledgement should be preserved. In case the Registered Notice is returned undelivered, the postal cover should be preserved unopened. In this case, a copy of the notice has to be sent under certificate of post to the borrower. The borrower s name should not be mentioned in the auction notice; this will obviate the chances of his suing the bank for defamation. An advertisement containing the details of total weight of ornaments, present outstanding, date of auction etc. should be given in a local language newspaper well in advance as approved by the Controller. All the incidental charges should be recovered from the borrowers. Before sale of ornaments, a panchnama signed by a Notary Public listing the ornaments as per the details recorded in the Gold Loan documents should be obtained. 5

6 Change of Cash Officer in CBS: The change of Cash Officer should be done after the completion of day s work. The outgoing Cash Officer should have handed over the Cash to the Accountant (Vault Teller) in the system. All Cash Drawers must be closed. Both existing Cash Officer and new Cash Officer should be signed off. User Administrator (user type 45 /50) should change the User Type of the outgoing Cash Officer to 1 and that of the Incoming Cash Officer to 60. These changes should be done using the menu Change User Type Permanently and also in the User Type Change (Temporary) under Change Capability level. Both these options are available under User / System Management menu. CLARIFICATION ON SYSTEM SUSPENSE ACCOUNTS: (YOU SHOULD KNOW-2) The formula of Admin Balance= Physical Balance= 3198 Balance is an ideal situation. However, it will not apply in the following cases. For other bank customers using our ATMs, Switch center gives credit to our 3198 on the same day by debiting 3197 which is maintained at ASC Mumbai. The reversal of 3197 is taking place at T+1 Day. In case, the other bank customer using our ATM and make a complaint with his banker, Our ASC Mumbai will debit BGL account of the ATM branch and lodge a charge back complaint through CMS which has to be closed within 5 days. With Greetings, Comradely yours, (D. THOMAS FRANCO RAJENDRA DEV) GENERAL SECRETARY Please read, circulate, file and refer. Please copy the e mail and store in a separate folder for reference 6