Branch manager and loan officer please follow below irregularities to avoid accountability

Branch manager and loan officer

Following are the common irregularities found in Inspection reports, tabulars and charge sheets. All incumbents and officers handling loan seats are requested to follow bank’s guidelines in such cases to avoid accountability :
 Stock statements not matched with the stock audit report issued by the Stock Auditor.
 Age wise list of list of debtors not obtained with stock statement.
 Stock shown in Stock statement for the month of March is differs from stock shown in balance sheet

Branch manager and loan officer 1

 GST returns have not been kept on record along with stock statement.
 Diversion of funds : Funds transferred to sister concerns as the Neft/RTGS passed by routine officer
 Stock is not insured for the value as per stock statement submitted. Banks name as financier not mentioned on Insurance policy

Branch manager and loan officer 2

 Penal interest not levied in the accounts as per Bank’sguidelines.
 Unit visit report and visit report of place of residence not held on record.
 Timely CGTSME cover not obtained as per banks guidelines.
 CIC reports not monitored properly
 PMS is not utilized for monitoring as multiple areas of weakness,
 Board Resolution, Due Diligence report, ROC search report, External rating are not held in case of eligible borrowers.

Branch manager and loan officer 3

 Restructuring of loans not done as per banks guidelines.
 Reversal of expired Bank Guarantees not done as per banks guidelines.
 Timely renewal of credit facilities not done, as per Bank’s guidelines.

Regards