Internship Weekly Report

Khushali Microfinance Bank Limited

Name:
Talha Akram
Reg. NO.:
FA20-BBA-030

Starting Date:
17 July 2023
Ending Date:
22 July 2023

Comsats University of Islamabad, Sahiwal Campus

 Monday
Penalty Structure for Violation of Cash Management
Instructions

SBP Currency Management Strategy Penalty Structure for Banks

Check Procedure Center

Sr. Description Penalty Per Instance Penalty Per Unit in
in Rs Rs.
1 Issuance of Unauthenticated and 100,000 0
Unprocessed banknotes to public.
2 CPC/Feeding branches/other 20,000 0
branches do not have separate clean
and secure vault space, with proper
safe keeping arrangements.
3 The vault does not have insurance 10,000 0
cover in line with value of cash held.
4 The entire CPC / Sorting area is not 20,000 0
covered by high resolution CCTV
cameras
5 Recording of CCTV cameras is not 0 10,000
available for 60 days
6 Banknotes sorting and 0 5000 per machine
authentication machines are not
processing / authenticating
banknotes as per SBP standards as
outlined in Finance Department
circular No. 03/2015
7 Police verification of all employees 0 5000 per employes
deployed at CPC/Feeding Branch is
not available.
8 No approval has been obtained from 20,000 0
SBP Finance Department, where
deviations to requisite capabilities in
cash handling/packing machines
9 Suspected Counterfeit banknotes are 30,000 0
not surrendered to SBPBSC within
48 hours of detection along with all
particulars and record
10 Record of visitors is not maintained 5000 0
11 Packets and bundles are not 20,000 100 per packet
prepared/packed as per requisite
 specifications
12 cash offered in IEC or deposit with 20,000 1000 per bundle
SBP BSC are not packed as per
Packing Instructions
13 Any other non-compliance and 5000 to 100,000
circumvention of instructions issued
from time to time by SBP, relating
to CPC / Feeding Branch /
Standalone Branch

ATM
Sr. Description Penalty Per Instance Penalty Per Unit in
in Rs. Rs.
1 Machine authenticated and sorted 100,000 0
cash is not being fed into ATMs.
2 Presence of forged banknotes in 0 100 times the value
ATM. banknote found
2(A) Presence of counterfeit banknotes 0 100 times the face
in the banks’ balances surrendered value of the
with SBP BSC: counterfeit banknotes
3 Bags/Cassettes are not prepared and 20,000 0
sealed in high resolution, CCTV
environment, as per requisite
specifications
4 20,000 0
The records pertaining to
bags/cassettes are not maintained
including denomination, date and
time of sorting, sealing,
preparing/sealing personnel,
transporting personnel, transporting
vehicles and name of supervisor

5 Separate bags /Trays are not 10,000 5000 per ATM

prepared for all attached ATMs.
6 Bags / Cassettes are remitted 10,000 0
without receipt of written
acknowledgement from feeding
team/officials/armor guards/CITs.
7 CCTV and documentation record 20,000 0
for 60 days is not available or
CCTV record of all disputed cases
is not available.
8 Any other non-compliance and 5000 to 100,000 0
circumvention of instructions
issued from time to time by SBP,
relating to ATM Feeding.
9 Leftover cash taken from ATMs, if 0 5000 per ATM
any, is not packed and sealed in
CCTV environment and is not
transported to CPC/Feeding Branch
for processing.

Arrangement with other Banks and IEC

Sr. Description Penalty Per Instance Penalty Per Unit in
in Rs Rs
1 Claims/disputes for any balances 5000 1000 per day
pertaining to IEC are not settled
within sixty (60) days
2 Any other non-compliance and 5000 to 100,000
circumvention of instructions
issued from time to time by SBP,
relating to ATM Feeding.

Supplementary Instructions
Sr. Description Penalty Per Instance Penalty Per Unit in
in Rs Rs
1 Bank does not maintain prescribed 5000 500 per day
statement of daily closing cash
balance.
2 Minimum One Day's fresh / re- 10,000 1000 per day
issuable machine authenticated
balances is not maintained in
accordance with the average daily
cash payment requirements
3 Branch does not accept small 10,000 0
denomination banknotes as well as
cut / soiled / mutilated and
defective.
4 The soiled banknotes deposited by 0 500 per bundle
commercial banks found to contain
more than 20% of re-issuable
banknotes or vice versa.
5 A penalty will be imposed if fresh 0 20,000/Per bundle
banknotes issued to a commercial found in market
 bank for specific events are found 10,000/- per 5
in the informal market during packets found in
mystery shopping. series

6 Zonal/feeding branches do not 50,000 0

ensure replenishment of authorized
branches, as per time, demand,
supply and quota
7 Bank branches do not ensure 10,000 0
issuance of fresh cash to general
public over the counter or against
requests received through SMS, as
per quotas and stock available
8 Banks do not accept legal tender 2000 0
coins and do not provide
banknotes-coins exchange facility
to all the customers and general
public.
9 Any other non-compliance and 5000 to 100,000
circumvention of instructions
issued from time to time by SBP

Tuesday
Clean Note Policy
 Act 1956 section 34 subsection 2(Q)
 Six type of note clam from SBP 1. Burn Note 2. Wash Note 3. Oil Note 4. Misprint Note
5. 3 or more pieces of note 6. 2/3 part of note
 Note not clam 1. If we cut sharp weapon 2. Jali note 3. If any word write on note 4. If any
unformal point or mark on Quaid-e-Azam picture

Wednesday
 Learn About Rollover
 Also learn about Rollover enter in system

Thursday
 Learn about new Account opening in system
 Check customer information from system