SBP directs banks to provide daily branch-level cash position

SBP directs banks to provide daily branch-level cash position

KARACHI: State Bank of Pakistan (SBP) on Wednesday directed the banks to provide branch-wise cash position on daily basis.

A circular issued by the central bank said that through a circular dated October 04, 2018 wherein SBP introduced daily branch-level reporting of cash receipts and payments, with a view to monitor and manage cash operations across the industry.

In order to further enhance the control over reported data, it has been decided to route the data reporting through Data Acquisition Portal (DAP).

Banks are therefore advised to report daily branch wise cash receipts & payments data via DAP with effect from December 09, 2019.

In the previous circular issued in October 2018, the SBP said that While appreciating the efforts of banks in efficient reporting through DAP, SBP intends to further improve the reporting mechanism with a view to monitor and manage the cash operations, banks would be required to upload/submit branch wise cash receipt and withdrawal position at each day end.

Accordingly, SBP has made necessary development in SBP Data Acquisition Portal (DAP) to facilitate banks in submission of branch wise daily position.

In order to acquaint the respective officials of banks, SBP is organizing an orientation session.

Therefore, banks are requested to nominate, at least two, officials to participate in the session.

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