Duties and Responsibilities of Cash Officers in Bank or Financial Institution

Cash Officer is a person who takes responsibilities of effective functioning of the cash department in a bank branch. In all Currency Chest Branches an officer will discharge the duties of Cash Officer. Cash officer shall be responsible for the effective functioning of the cash department of the Branch.

Cash Officer

The main responsibilities of a Cash Officer are listed below:

  1. Be the joint custodian of Cash and other valuables like Gold, Gold ornaments, Safe Deposit Articles and Security Forms other than Cheque books.
  2. Supply cash / cash boxes to Single Window Operator (SWO) in the morning. Take possession of excess / surplus cash or deliver / supply cash from / to SWO and bulk cashier(s), as and when required during the day. Complete Estimated Over Draft (EOD) exercise for cash after completion of business hours.
  3. Carry out surprise verification of the cash holding in the cash boxes of SWO and carry out intra day cash verification at the SWO Counters.
  4. Ensure that all the notes received are shrouded and sorted into issuable and non-issuable notes. Arrange for sorting out ATM fit notes for delivery to CAC and Nodal Officer and remit Soiled Notes to the RBI, with the help of SWO from time to time.
  5. Ensure that the non-issuable note bundles prepared are pasted with note slips duly signed by the SWO on the top and bottom of the bundles confirming the quantity and quality of the notes. Liaise with RBI to manage cash inventory at the Branch, arrange for inward / outward cash remittances from them.
  6. Arrange for receipt / payment of bulk cash from important customers.
  7. Verify the purity and the weight of Gold offered as security by Gold loan customers and to keep Gold / Gold ornaments after sanction in joint custody as per instructions
  8. Generate and check relevant reports.
  9. Ensure Weighing Balances Certificate are current and in order
  10. Ensure operation of the Currency Chest as per  norms.
  11. Keep the Currency Chest fitness Certificate current.
  12. Keep the Gun licenses current  and diaries for timely renewal.
  13. Save the Cash related reports daily and keep a hard copy of all the reports properly filed for future reference.
  14. Verify the cash balance in the Currency Chest fortnightly.




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