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Homechevron_rightKeralachevron_rightKerala HC tells SBI to...

Kerala HC tells SBI to maintain status quo in outsourcing cash management

Kerala HC tells SBI to maintain status quo in outsourcing cash management

Kochi: The Kerala High Court on Monday ordered State bank of India (SBI) to maintain status quo in respect to the steps it had taken for outsourcing its currency and cash management in the state.

Justice P.V. Asha passed the interim order on a writ petition filed by State Banks’ Staff Union, Kerala Circle, and four other employees, the Hindu Reported.

According to the petitioners, employees recruited via transparent process after assessing their qualification, competitiveness and integrity do SBI’s cash management.

Also, the important functions of the bank’s currency management cell include cash sorting, management of soiled notes, currency delivery to branches, collection of money from branches and management of the bank’s currency chest.

The guidelines issued by the Reserve Bank of India bar the banks from outsourcing works linked to the core management of the banks including cash management.

According to the handbook on human resources management, the petitioners say, two kinds of outsourcing are allowed: the first, the outsourcing of bank’s maintenance work at branches / offices / establishment/residential complexes etc; the second, outsourcing for cash replenishment in ATMs and also introduction of total outsourced model of ATMs.

Given this, the bank authorities cannot outsource works not mentioned in the HR Handbook. According to petitioners, the move to outsource currency chest management comes in sheer violation of the guidelines.

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