Preventive Vigilence

PREVENTIVE VIGILANCE IN BANKS
watchfulness means perplexity;. It is not the purpose of heed to wait for lapses to be connected and
then try to conduct post mortem. What is more strategic than punitive concern is birth control device vigilance.
Recognizing the importance of preventive vigilance in Banks, the Central Vigilance Commission has
suggested that an officer of able seniority is required to be designated as Chief of familiar Vigilance
(CIV) who inter alia, shall also be responsible for introducing preventive vigilance measures. The RBI
guidelines advocate that the CIV may take the following measures on preventive vigilance:
(i)
(ii)
(iii)
(iv)

undertake a study of existing process and practices;
undertake a review of the regulatory functions;
devise seemly methods of control over exercise of discretion and
identify the areas which are prone to corruption.

Following the RBI directives and the proposals of the CIV, the following steps pay been undertaken by
the SBI for fraud prevention and monitoring:
? Observation of the KYC Compliance and hoax Prevention Day;
Introduction of detailed process of tallying Admin hard cash Balance with Physical Cash Balance in
ATM.
Payment of SBIMF through with(predicate) Dividend Warrant Payment Module on CBS.




Form The onus Vigilance Committees at the branches having staff strength of 10 or more
and at CPCs/Cells irrespective of their staff strength
Encourage/popularize talk Blower excogitation.
Advise Controllers to ensure that secrecy of passwords is not compromised.
foundation of Frauds Analysis Cell (FAC) at Jaipur to monitor transactions.
Introduce the concept of compulsory 10 days leave as Vigilance Leave etc.
Ensuring timely checking of VVRs

Conclusively, in the wake of all the express being raised against corruption, preventive vigilance has gained
significance, because bank frauds not only impact the banking institution but tarnishes the image of our
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