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Currency Chest Team-HO & SUPPORT-Currency Chest

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Kotak Mahindra Bank

3mo ago

  • Job
    Full-time
    Senior Level
  • Facilities Management
    Banking & Finance
  • Mumbai

AI generated summary

  • You must ensure timely cash management, adhere to RBI norms, maintain security protocols, conduct audits, and manage relationships with banks while keeping all areas clean and compliant.
  • You will manage cash flow, ensure proper cash dispensing, maintain security, conduct audits, monitor operations, and uphold RBI guidelines for efficient cash management and compliance.

Requirements

  • Ensure timely opening of vault and availability of cash to cash van officers.
  • To ensure Proper cash dispensing branch wise with no errors. Adjudication of Notes as per RBI norms & Rules
  • Updation of bin register and card on time and ensuring proper signatures.
  • Managing cash inflows and out flows from chest vault and periodical balancing during the day.
  • Ensuring constant supply of ATM / Counter issuable cash. Ensure enough fresh cash availability in all denominations.
  • To keep the vault clean of any unwanted stuff.
  • Must have knowledge to pass notes as per RBI refund rules and to get full value during RBI inspections.
  • Proper scrutiny and upkeep of key registers and keys.
  • Identify potential with other CC banks for offloading excess cash through diversion orders, maintain relationship with other banks & regulators
  • Security and house keeping
  • To ensure 24 hours vigil in chest area by attentive guards.
  • Ensure proper checks and frisking by guard during movement in chest area.
  • To conduct surprise checks specially on holidays and nights to see guards on duty.
  • To ensure duty of one person to keep vigil in chest area all the time.
  • Proper functioning of all security equipment and their regular checking and servicing. Maintaining CCTV Backups and recordings
  • To ensure proper upkeep and cleaning of all the areas in the chest.
  • To ensure absolutely clean audit report with no adverse comments in any area.
  • Constant review of process and controls to ensure complete controls.
  • Timely submission of all demanded records to audit for scrutiny.
  • To keep good relation with them and timely resolution to the queries.
  • RBI audit has to be exceptionally good with no adverse remarks.
  • Should have knowledge of RBI guidelines, procedure & controls for better cash management in the unit, and achieve good audit rating
  • To regularly check all areas especially critical ones from process as well as audit point of view.
  • To observe the sorting and counting activities.
  • To observe the cash movements from the vault and vice versa.
  • To keep optimum level of stationary required in chest.
  • To stop leakage in stationary use and device ways to reduce cost.

Responsibilities

  • Ensure timely opening of vault and availability of cash to cash van officers.
  • To ensure Proper cash dispensing branch wise with no errors. Adjudication of Notes as per RBI norms & Rules
  • Updation of bin register and card on time and ensuring proper signatures.
  • Managing cash inflows and out flows from chest vault and periodical balancing during the day.
  • Ensuring constant supply of ATM / Counter issuable cash. Ensure enough fresh cash availability in all denominations.
  • To keep the vault clean of any unwanted stuff.
  • Must have knowledge to pass notes as per RBI refund rules and to get full value during RBI inspections.
  • Proper scrutiny and upkeep of key registers and keys.
  • Identify potential with other CC banks for offloading excess cash through diversion orders, maintain relationship with other banks & regulators
  • Security and house keeping
  • To ensure 24 hours vigil in chest area by attentive guards.
  • Ensure proper checks and frisking by guard during movement in chest area.
  • To conduct surprise checks specially on holidays and nights to see guards on duty.
  • To ensure duty of one person to keep vigil in chest area all the time.
  • Proper functioning of all security equipment and their regular checking and servicing. Maintaining CCTV Backups and recordings
  • To ensure proper upkeep and cleaning of all the areas in the chest.
  • To ensure absolutely clean audit report with no adverse comments in any area.
  • Constant review of process and controls to ensure complete controls.
  • Timely submission of all demanded records to audit for scrutiny.
  • To keep good relation with them and timely resolution to the queries.
  • RBI audit has to be exceptionally good with no adverse remarks.
  • Should have knowledge of RBI guidelines, procedure & controls for better cash management in the unit, and achieve good audit rating
  • To regularly check all areas especially critical ones from process as well as audit point of view.
  • To observe the sorting and counting activities.
  • To observe the cash movements from the vault and vice versa.
  • To keep optimum level of stationary required in chest.
  • To stop leakage in stationary use and device ways to reduce cost.

FAQs

What is the primary function of the Currency Chest Team?

The primary function of the Currency Chest Team is to manage the vault activities, ensuring timely cash dispensing, proper cash handling, and adherence to RBI norms and rules.

How do we ensure cash availability for cash van officers?

We ensure timely opening of the vault and manage cash inflows and outflows to maintain availability for cash van officers.

What are the key responsibilities regarding cash dispensing?

Key responsibilities include ensuring proper cash dispensing branch-wise with no errors and adjudicating notes as per RBI norms.

What is required for proper cash management and good audit rating?

Knowledge of RBI guidelines, procedures, and controls is essential for better cash management in the unit and achieving a good audit rating.

How often should visits and checks be conducted in the chest area?

Surprise checks should be conducted regularly, especially on holidays and nights, to ensure proper security and operations.

What is the procedure for handling security in the chest area?

Security procedures include ensuring 24-hour vigilance by guards, proper checks and frisking during movement, and maintaining the functionality of all security equipment.

What should be done to maintain the cleanliness of the vault?

It is important to keep the vault clean and free of any unwanted items to ensure a secure and efficient working environment.

How can excess cash be managed with other banks?

By identifying potential partnerships with other currency chest banks for offloading excess cash through diversion orders and maintaining good relationships with them.

What is the expected outcome of an audit?

The expectation is to have an absolutely clean audit report with no adverse comments in any area, particularly during RBI inspections.

How can we ensure proper stationery control in the chest?

By keeping an optimum level of stationery required and implementing measures to prevent leakage and reduce costs associated with stationery use.

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Kotak Mahindra Bank

Finance
Industry
10,001+
Employees

Mission & Purpose

Kotak Mahindra Bank is a leading Indian financial services conglomerate that offers a wide range of banking and financial products, including personal, corporate, and investment banking services. They provide solutions such as loans, savings accounts, insurance, asset management, and wealth management. Kotak Mahindra Bank’s ultimate mission is to drive growth by delivering innovative and customer-centric financial services while maintaining the highest standards of integrity and professionalism. Their purpose is to empower individuals, businesses, and institutions by offering tailored financial solutions that enhance their financial well-being and support economic progress.