Fund transfer is a routine work of bankers but we must be very cautious while transferring funds. Please read the thumb rules below

*Vigilance Update on Fund Transfer*

Please read carefully

Dear colleagues,

Fund transfer is a routine work of bankers but we must be very cautious while transferring funds. Please read the thumb rules below

*Deviation from any of the banks rules may cause employee to disciplinary action or even termination from the service*

1. Transaction slips/vouchers are not authorised means for transferring funds except for loan disbursement and recovery purposes. For such loan disbursement and recovery purposes the transaction slips/vouchers must be authorised by branch manager's full signature (not initials)

2. Loan disbursement transfer transactions must be signed by borrower/s overleaf.

3. Cheques are the authorised means for transferring funds subject to tallying of drawers signature/s with the banks records. No other verbal or written instructions are considered for funds transfer. Such instructions can be only considered for transferring funds into customers (other)own account if the given mandate has minor signature difference.

*Branch managers are also not authorised to authenticate such transactions where the drawer's signature does not tally with the bank's records.*

4. As per revised banking norms overwriting and modifications on instruments by giving additional signatures on instrument like cheques are also not acceptable except on date modification when the date of instrument has crossed its validity period that is 90 days even if the customer himself is present to execute the transaction

5. NEFT and RTGS transactions vouchers slip must also be signed by the account holder hence no other person is authorised to sign on the Rtgs or NEFT slips

6. Fund transfers must not be initiated without customers proper written mandate hence no other verbal or email instructions must be considered for transferring funds
*Hence straightaway refuse to initiate/authorise such transactions for your own safety.*
Remember one wrongly/illegally initiated/completed transaction is sufficient for bank to proceed against employee.

*Pay due diligence..*
*Protect yourself*