C&S-Currency; Chest
What is its contribution towards the organization?
Currency chest operation is critical job & also monitor by the RBI. Currency chest is cash operation job providing services to branches as well as ATMs. Currency chest to follow all the regulatory guidelines & this would help to perform better for the organization.
What is the size of the operation the position manages and supports?
Total size of the operation is 5-6 people in the currency chest.
Key Skills-
- Financial Acumen – Robust understanding of cash management and banking operations.
- Security Awareness – Understanding of security protocols for handling and storing cash
- Regulatory Knowledge – Familiarity with laws and regulations governing currency management and banking operations
- Integrity and confidentiality – Adherence to ethical standards and maintaining confidentiality of cash operations
- Problem Solving skills – Ability to address and resolve issues
Clearing & Settlement: Role description
- Executing day to day Currency Chest Operations as per the regulatory guidelines
- Monitoring the CRL of the mapped branches in co-ordination with CC Head/Ops Head/ BBO team
- Maintaining records of Bi-monthly/Half Yearly/ cash verification/other Audit at the chest.
- Handling cash remittance i.e. cash payment to branches and CRAs (ATMs) and cash receipt from branches or CRAs recyclers)
- Ensuring proper sorting of notes as per RBI guidelines and monitoring the Sorters at the chest. Handling and managing discrepancies found during sorting.
- Ensuring checking and proper packing of Soiled Note Remittance boxes
- Liaising with vendors for upkeep of Note Sorting Machines, Counting Machine etc.
- Updating entries in CCMS for inward, outward, sorting, bin management etc
- Ensuring vigilance keeping security aspects in mind
- Monitoring of sorting operations
- Accompanying Soiled Note Remittance sent to RBI and handing over of cash to RBI with acknowledgement
- Attending RBI CVPS i.e. processing