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Banks need not send safe custody certificate for specimen signatures to RBI
 
Date: 1/19/2005 12:00:00 AM
Banks need not send safe custody certificate for specimen signatures to RBI

RBI No. 349 /2005
Ref. DBS.CO.PP.BC 16 /11.01.005/2004-05

January 19, 2005

The Chief Executives
All Scheduled Commercial Banks (excluding RRBs)

Dear Sir,

Inspection of banks- Set of Specimen signatures - Safe custody certificate

Please refer to our circular no. DBOD.Prog.BC.124/C-283 (A)-84 dated December 19, 1984 on the captioned subject. As you are aware, Regional Offices of Department of Banking Supervision (DBS) of the Reserve Bank of India are supplying sets of specimen signatures of senior officers attached to these offices to your Head / Controlling Offices and branches within their respective areas, for their use, on the basis of half-yearly indents received from your offices. Also in terms of the above referred circular, a safe custody certificate as on December 31 of every year is to be obtained from the branches by the respective Controlling Offices and a confirmation to that effect is to be sent to our Regional Offices by January 31 of the succeeding year.

2. On a review, it has been decided that henceforth banks (Controlling Offices) need not send such confirmation of the receipt of the safe custody certificates from branches to the Regional Offices of DBS, as done hitherto. However, the Controlling Offices of the banks may continue to obtain the certificate from the branches. Further, the safe custody of the specimen signatures may be verified during the internal inspection / audit of the bank.

Yours faithfully,

(Raju Kurian)

Deputy General Manager


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