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Bankers must follow RBI guidelines, says Collector

Staff Reporter

THENI: Nationalised and private banks should strictly follow guidelines of Reserve Bank of India while transporting cash either to their ATMs or from one branch to another as district election officials and income tax authorities were maintaining high vigil on movement of cash, said Collector P. Muthuveeran.

He was presiding over a special meeting with bankers here on Friday.

Any deviation or lapse noticed on the part of employee in this connection will be viewed seriously.

A clerk and a bank employee should go along with the cash Rs.25,000 and up to Rs.20 lakh. For transportation of cash, more than Rs.20 lakh and up to Rs.50 lakh, one armed guard should accompany in addition to two employees, and for more than Rs.50 lakh, two armed guards should accompany in addition to above employees.

The clerk should have letter of remittance or indent with name and signature of the employees and it should be attested by a branch manager. Denomination of cash should also accompany the letter.

“Wear identity card”

All employees of the bank should wear the bank's identity card.

Currency chest personnel should carry cash remittance inward register with him, he added.

The monitoring committee officials had recently confiscated the cash from bank staff for carrying it without proper records and identification and without following guidelines.

Newspaper agents and distributing persons should not distribute covers containing cash or gifts along with newspapers to their subscribers.

If anybody pressed them to do it, they should inform either election officials or the police.

Action will be initiated against such paper distributing persons and agents. Their names will also be included in the FIR.

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