Retail Operations and Financial Transactions
This domain tests counter selling and the cash discipline behind savings and payment transactions, where every rupee must be recorded before the customer leaves.
The counter as a shop
- Sell stamps, postal stationery, envelopes, Indian Postal Orders and philatelic items; explain definitive (regular) stamps against commemorative (occasional) stamps, and ordinary sheets against personalised My Stamp sheets.
- Keep the stamp depot indent, stock register and price list current; stamps are revenue, so shortages are treated seriously.
Money at the counter
- Receive cash, count it in front of the customer, enter the transaction in the system, hand over a printed receipt and update the passbook.
- Verify identity and signature for withdrawals; complete KYC for new accounts and high-value deposits; record nomination.
- At close, tally physical cash against the system and the cash book; report excess or shortage the same day; remit surplus to the treasury or strong room; keep keys in dual custody.
Worked example
A customer deposits 10,000 in a savings account. Count the notes, confirm the amount aloud, check the account is operative and KYC complete, enter the credit, print the receipt and update the passbook. If the same customer then asks for 25,000 in cash, check the balance, verify identity and signature, confirm the withdrawal is within the non-cheque limit, then pay and record before the customer leaves.
Traps
- Paying out before recording the debit.
- Accepting a deposit without counting the notes in front of the customer.
- Leaving the cash drawer open, or letting one official hold both sets of keys.