Posts
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Sr.
No.
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Nature
of Irregularity
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Penalty
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|
i
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Shortages
in soiled note remittances and currency chest balances
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For
notes in denomination upto Rs.50
Rs.50/-
per piece in addition to the loss
For
notes in denomination of Rs.100
& above
Equal
to the value of the denomination per
piece in addition
to the loss.
Shortages
of 100 pieces and above per
remittance shall be
debited immediately. Penalty may be levied on reaching a limit of 100
pieces in a cumulative manner.
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ii
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Counterfeit notes
detected in soiled note remittances and currency chest balances.
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Shall be levied
in terms of
the instructions issued by
DCM
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|
iii
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Mutilated
notes detected in soiled note remittances and currency chest balances
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Rs 50/- per piece irrespective of the denomination
Mutilated
notes of 100 pieces and above per remittance
shall be debited immediately. The
penalty may be levied on reaching a limit of 100 pieces in a cumulative manner.
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iv
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Non-compliance
with operational guidelines by currency chests
a)
Non-functioning
of CCTV
b)
Branch cash/documents kept
in strong room
c)
Non-utilization
of NSMs for sorting of notes
|
Penalty
of Rs 5000 for each irregularity, which will be enhanced to Rs.10,000 in case
of repetition.
Penalty will be levied immediately.
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v
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Violation
of terms of agreement with RBI or
deficiency in service in providing exchange facilities:
a) Non-issue of coins over the counter despite
having stock.
b) Refusal
by any bank
branch to exchange soiled notes
/ refusal by any currency chest to
adjudicate mutilated notes tendered public
c) Non conduct of surprise verification of
chest balances, at least at bimonthly intervals, and by the officials from
the Controlling Office once in six months
d) Denial of services to linked
branches of other banks
e) Non acceptance of lower denomination
notes tendered by public and linked bank branches
f)
Detection
of mutilated /counterfeit notes in re-issuable packets prepared by the
currency chest branches.
|
Rs 10,000
for any violation
of agreement or deficiency of service.
Rs
5 lakh in case there are more than 5 instances of violations of in service by
the branch.
The
levy of such penalty will be placed in public domain.
Penalty will be levied immediately.
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Operational Guidelines on levy of
penalties
–
Competent Authority –
Officer-in-Charge of the Issue
Department of the Regional Office.
Appellate Authority -
i.
Appeal
may be made by the Controlling Office to the Regional Director, within one
month from the date of debit.
ii.
Appeals
for waiver of penalty made on grounds such as staff being new/untrained, lack
of awareness of staff, corrective action having been taken/will be taken, etc.
will not be considered.
Based on
RBI Master Circular dated 20/07/2016. For further clarifications please refer www.rbi.org.in ………….Poppy
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