To all the Branches
Circular No. Invst. 03/2006 Date 14.11.2006
Reg:- HEAVY CASH HOLDING AND BALANCES IN CURRENT ACCOUNTS
1. In some recent cases of dacoity against some branches of other banks, miscreants were able to loot large amount of cash from Cashier Cabin and Cash Safe.
2. It was observe that in all such cases, branch offices were holding cash much above their authorized retention limit. Even in case of our branches, such instance of high cash retention is observed.
3. As per modus operandi of bank dacoits, they carry out extensive survey before targeting any bank branch. Obviously the availability of large cash at our branches can make lucrative targets for the miscreants.
4. Further, in blatant violation of bank guidelines Cashier’s are not keeping their cabin locked. The cash box/drawer are also kept open. In some cases Cashier’s attention is diverted by miscreants by engaging them in routine talk and then the miscreants make a clean sweep of all available cash. All the Staff members are required to take steps to ward off such diversionary tactics.
5. Following Points should also be kept in mind:-
(a) Entire cash is not drawn from the cash safe and kept at the counter
(b) Cahier Cabin Alarm is installed and is in working condition
(C) Guard is alert.
As such, All the Incumbents are advised to ensure that cash holding must be kept to the minimum as high retention is not only a security risk but also a revenue loss to the institution. Incumbents are also advised to keep the minimum balance in their current account and avoid to avail the Overdraft Limit.
General Manager.