Outsourcing of Cash Management - Reconciliation of Transactions - ఆర్బిఐ - Reserve Bank of India
Outsourcing of Cash Management - Reconciliation of Transactions
RBI/2018-19/183 May 14, 2019 The Chairman / Managing Director / Madam / Dear Sir, Outsourcing of Cash Management – Reconciliation of Transactions As stated in para 15 of the monetary policy statement dated October 04, 2016, the Bank had constituted a Committee on Currency Movement [Chair: Shri D.K. Mohanty, Executive Director, Reserve Bank of India] to review the entire gamut of security of the treasure in transit. The recommendations of the Committee relating to timely reconciliation of transactions (i.e. ATM cash replenishment) between the bank, the service provider and its sub-contractor have been examined. Accordingly, it has been decided that the bank shall follow the procedure as under:
2. Further, as a part of outsourcing arrangements for cash management, the bank shall encourage their service provider and its sub-contractors to:
Yours faithfully, (Sanjay Kumar) |