Operations — Audit-Readiness Checklist
Payments, settlement, currency management, IT/systems and back-office rules. Walk into your next audit or internal review already prepared, with a personal, timestamped record of what you did and which official RBI circular you followed — kept only in your own browser, never sent to BankPulse.
- Official RBI source is on file and hyperlinked for every circular you rely on -- not just remembered.
- The action this circular asked for has a recorded owner and a recorded date it was done.
- If the circular set a deadline or an effective date, that date is tracked -- not just known informally.
- If a circular you relied on has since been superseded or withdrawn, you have a note of when you last checked its status.
- If a manager or colleague asked you to do something that conflicts with a circular's own text, you have a timestamped record of what the circular actually said.
Recent circulars in this desk with a real action item
Review and update internal policies to align with the new Master Direction's capital and onboarding requirements. (+3 more actions on this circular)
Update branch staff on SCSS rules: joint accounts only with spouse, age eligibility based on first applicant. (+4 more actions on this circular)
Conduct periodic sensitization sessions for branch staff on mandatory coin acceptance of all denominations. (+3 more actions on this circular)
Assess your bank's total currency chest count and classify as ≤100 or >100 to determine the deadline. (+4 more actions on this circular)
Review all IT outsourcing contracts to limit vendor access to only necessary functions. (+3 more actions on this circular)
Ensure your cheque imaging systems can capture three images per cheque: gray-scale front (100 DPI JPEG), B&W front (200 DPI TIFF G4), B&W reverse (200 DPI TIFF G4). (+3 more actions on this circular)
Upload March residual data (FY 2004-05) as a separate RT-01 record alongside current FY 2005-06 RT-01 for each file transmitted between April 1-16, 2005. (+3 more actions on this circular)
Update internal eligibility checklists for 8% Savings Bonds to reflect 'OR' condition between Section 80G and Section 35(1)(ii)/(iii) certificates. (+2 more actions on this circular)
Update internal SOPs to ensure local government collections are remitted to CAS, Nagpur within T+3 working days and outstation within T+5 working days, using the RBI calendar. (+4 more actions on this circular)
Review the enclosed list of new overt security features for Rs 50, Rs 100, Rs 500, and Rs 1000 notes. (+3 more actions on this circular)
Instruct nodal branches to identify all OLTAS challans from June 1, 2004 to March 31, 2005 that are not yet uploaded to TIN. (+4 more actions on this circular)
Train field-level staff on new/revised security features and ensure they educate the public. (+3 more actions on this circular)
Update systems to calculate broken-period interest using (days × yearly rate) / 365 (or 366 for leap year). (+4 more actions on this circular)
Update your system to stop charging processing fees on EFT, SEFT, and ECS transactions of Rs 2 crore and above from June 14, 2005. (+3 more actions on this circular)
Update OLTAS software to accept payments for non-consecutive assessment years in Challan ITNS-280. (+4 more actions on this circular)
Immediately update branch software to enable Fringe Benefit Tax acceptance. (+1 more action on this circular)
Issue instructions to all controlling offices to ensure currency chest balances are verified at least once every two months as per earlier circular. (+1 more action on this circular)
Procure and install the recommended hardware and system software at all currency chests and link offices. (+4 more actions on this circular)
Update internal systems to track and claim commission on a per-transaction basis from July 1, 2005. (+3 more actions on this circular)
Submit service charge details for RTGS, SEFT, EFT, and ECS (both outward and inward) to RBI within one week using the prescribed format. (+3 more actions on this circular)
Confirm with your IT and operations teams that maker-checker system is active at all branches for OLTAS data entry. (+3 more actions on this circular)
Maintain detailed per-transaction records for receipts, payments, and pension transactions to support commission claims. (+4 more actions on this circular)
Display the press release at branches as advised. (+3 more actions on this circular)
File Annual Information Return for savings bonds if not already done, by August 31, 2005. (+4 more actions on this circular)
Ensure your bank's systems can receive and act on DR orders directly from State Government websites and Central Government emails/faxes. (+3 more actions on this circular)
Compile all software validations and default values related to OLTAS in your bank. (+2 more actions on this circular)
Finalize the point of truncation for outward cheques and the processing model for inward payments. (+4 more actions on this circular)
Instruct all branches to include the ECS user name abbreviation in passbook/statement entries for credits. (+3 more actions on this circular)
Review the DBOD circular RBI/005-06/71 dated July 20, 2005, for compliance requirements on e-payment facilities. (+3 more actions on this circular)
Ensure all branches have the 'COUNTERFEIT BANKNOTE' stamp (5 cm x 5 cm) and use it on every suspected fake note. (+4 more actions on this circular)
Ensure all currency chest transactions are reported to link offices on the same day, with consolidated reports to RBI issue offices by the next working day. (+3 more actions on this circular)
Update branch instructions to use challan codes from ITNS-282 form for Securities Transaction Tax. (+3 more actions on this circular)
Review and reduce service charges on RTGS, ECS, and EFT transactions to promote electronic payments. (+2 more actions on this circular)
Verify that all authorised branches have filed the Annual Information Return for bond subscriptions of ₹5 lakh or more received during FY 2004-05. (+2 more actions on this circular)
Advise all branches to accept ECS mandate revocation requests directly from customers without routing through user institutions. (+4 more actions on this circular)
Reiterate instructions to all receiving branches about special messenger/courier arrangements from the second fortnight of March 2006. (+3 more actions on this circular)
Expedite IFSC allotment to all branches in the IDRBT-prescribed format. (+3 more actions on this circular)
Extend banking hours on March 31, 2006, at branches authorized for government business, ensuring counters remain open for tax deposits. (+4 more actions on this circular)
Re-check all AIR data filed for FY 2004-05 and submit a Supplementary Information Report to the Income Tax Department if errors are found. (+3 more actions on this circular)
Issue instructions to all designated branches to strictly adhere to the single BLA per investor rule for Relief/Savings Bonds. (+3 more actions on this circular)