Procedure Book

The need of the hour is to reduce operational risk and in that direction a need is felt by many banks to devise a procedure book comprising the latest guidelines on various aspects of banking viz. KYC norms, Income recognition, preventive vigilance etc.

Systems and procedure study at select branches and HO by our team will be on an ongoing basis till completion of work.

The book will be in loose leaf format. Similar to SWIFT (Society for Worldwide International Financial Telecommunications) manual.

In addition to printed book/s a CD version will also be made available.

CD version will be up dated from time to time, say quarterly.

On implementation of core banking the server version will be prepared.

The CD and server version will have help in form of search engine.

We would like to suggest that the procedure book should be divided into five parts viz Deposits, Advances, Operations, Branch Upkeep & Statutory obligations and Information Technology.

A Co-ordination Committee named as ‘Systems & Procedure Committee’ will oversee the work.

Head of the committee will be top executive of the bank.

Other members would be two members from NIBER faculty, administrative heads of IT, credit, legal and operations, one or two branch managers, one Member Secretary at HO.

The committee meetings will be fortnightly, on the pre-determined days.

The committee would device a time frame for implementation.

Byproduct of the system would be revision & updating of various forms in use.