CBOA-AP CIRCULAR NO. 22 DATED 03.07.2013

CBOA-AP issued its circular No. 22 dated 03.07.2013 reproducing the circular issued by AICBOF on KYC norms. We are placing the same here for our readers.

CIRCULAR NO.: GS: 2013: 022                                                    Date: 03.07.2013

TO ALL OFFICERS                                            PLEASE CIRCULATE

Dear Friends,

We reproduce hereunder the Circular No. CIRCULAR/GS/2013/17 dated 02.07.2013 received from our Federation for your information.

With best regards                                                                   

           

Yours sincerely

Sd/-

(C.A. MALLIKARJUNA RAO)

GENERAL SECRETARY

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KYC-NOT A RITUAL BUT SACRED DUTY

“There are instances, where instructions on KYC guidelines are observed in letter and not in spirit. Recently RBI slapped fine on three banks for the reported violations/deviations of KYC/AML guidelines. The buck stops at various levels in each bank, in some banks stopping at the branch level and in some stopping at the higher administrative level. In some cases deviations to KYC guidelines are prompted by business promotion interest and not due to any malafide intention or ulterior motive.

Most of our field functionaries are pressurizing the branches particularly the Branch Managers for giant leap in business at any cost.  BUT ONE STEP AT A TIME ONLY TAKES ONE TO THE HIMALAYAS. Yes Friends, not a leap but innumerable steps! Let the steps be steady and measured- in the right direction. Let our Business, more particularly our credit folio be safe, secure, norms based, profitable and easily recoverable.

Some of our Friends are informing us that deliberate deviation is due to work pressure and more particularly pressure from higher authorities. Whatever is the reason it is inexcusable. Our Federation cannot and will not allow its errant members become scapegoats when such dereliction is due to dictates of the immediate higher ups. But, members should not allow such situations to arise.

As a responsible Trade union, it is our duty to caution our members that observance of KYC guidelines is mandatory. For an officer, from any angle compliance is a must:

• as a bread winner, to safeguard his job
• as an officer to safeguard the Bank and career of all colleagues
• as a socially conscious person to safeguard the society from illegal acts
• as a citizen to ensure Nation’s security and economy against unlawful activities
• as a responsible human, to save the world from extremism & terrorism.

Friends always keep in mind that systems and procedures are not optional ritualistic formalities but meant to be scrupulously followed in their true spirit.”

                                             

Regards.

Yours Sincerely,

Sd/-

(A.R. SAIFULLAH)                      

GENERAL SECRETARY