Phone : (R) 2457662

(Br.) 2707697, 5076624

Cell : 98151-54920
ALL INDIA PUNJAB NATIONAL BANK EMPLOYEES FEDERATION
(Regd. No. 7205)
CENTRAL OFFICE : ADDRESS: CORRESPONDENCE ADDRESS:
PNB-BO: Chaura Bazar 47, Nehru Nagar, (Model Town),
Ludhiana.141008 E-mail : mehtaprithviraj@gmail.com Ludhiana.141002
Ref.: AIPNBEF/2023

Circular Letter to all the Office Bearers, CCMs and 31.08.2023

General Secretaries of State Affiliates. E-Mail/Post

CLEARING TRANSACTIONS - PERPETUAL BREACH OF LAID DOWN

GUIDELINES OF THE BANK - INSPECTION AND AUDIT DIVISION
CIRCULAR NO. 28/17 DATED 03.08.2017 - BOOK OF INSTRUCTIONS
(OPERATIONS) - CHAPTER-II BANK'S SYSTEM OF ACCOUNTS
Dear Comrades,
The cited circular interalia;
contains/mandates the procedure for undertaking
"CLEARING TRANSACTIONS" in the bank/branches which interalia and its Para
6 (iv(i) and v(i)) LAY DOWN that;
i) The total amount of instruments tally with the total amount of vouchers
ii) The correctness of the details of vouchers and verify the instruments.

which are to be invariably checked by the concerned Officer/Supervisor to

ensure compliance of the said instructions.

A few frauds have taken place, where the cheques meant for outward clearing were
put in a box in the branch by the customers, thereafter, retrieved by the bank
outward clearing, Gathering The Concerned Account
official and dealt as
Details From The Reverse Of The Cheque. Otherwise no record was
maintained of the cheques collected from the box, few cheques pilfered in
between and misused for fraudulent activities, putting to dock particularly the
staff dealing with the clearing, in that branch.

Under the said situation, we have reasons to advice the staff to meticulously comply with
bank's system and procedure in dealing with the clearing which interalia mandates that
the instruments/cheques must carry the vouchers (Deposit Slip - Refer 6-A (i to x)
at page No. 14 and 15.

It is evident from the foregoing that in terms of laid down guidelines of the
bank, Pay-in-Slip/Voucher for affording the credit to the Customer's
account is mandatory but as a short cut measure the laid down systems
are obviated/ignored, jeopardizing our institution's and concerned
employee's interests.
Cont..
 -2-

Needless to add that the short cut methods are also reducing the
number of vouchers in the branches, affecting the Manpower
requirement, particularly in the clerical and subordinate cadre.

If any quarter insists otherwise, employee should seek

written instructions/Office Order to flout Head Office,
Guidelines and the matter may be referred to the
Union/Federation, instantly.

In one stroke, Head Office, Guidelines mandates that a Clearing

Cheque/instrument should invariably carry the related voucher (Pay-in-
Slip).

We would, accordingly urge upon our members/employees that they must look into the
Provisions of Inspection & Audit Division/Head Office Circular No. 28/2017
dated 03.08.2017, with a particular reference to its Para-6 'CLEARING
TRANSACTIONS", to safeguard their own interests and that of our premier institution
and to make feel the management necessity of Workman Staff in the
bank/branches.

For any Clarification/information, you are welcome to write to the

Central Office of the Federation.
With Greetings,

Yours Comradely,

P.R Mehta
General Secretary