Some of the solutions given by Crack Team are reactive in nature. What we need are proactive measures, which will not allow this situation to happen at all.
Some of the solutions which I propose: 1. %u201CCollection%u201D should be one of the key performance measures for the Branch Managers and Franchisee 2. Software application used for entering the cheque numbers (and other details) needs to be strengthened to add the verification of correct cheque numbers. They can also add a scanner to scan the cheque number, which will be automatically added to the system, instead of manually entering the number. This is applicable for all the amounts (even if it is as small as Rs 10000). Overall the software system needs to be strengthened for adding verification points and avoiding manipulation of data. 3. The data entered by the low skilled labor needs to be audited on periodic basis. 4. The software should show the status of check as %u201Creceived%u201D only when it is actually realized. (This system needs to be integrated). If the check is not realized, we should have an authority to sell any other stock from client%u2019s demat account. 5. Create awareness amongst all stakeholders (including remisers) in AHM regarding the problems of incorrect information. (This is not a preventive measure, but will surely help in removing mis-understanding if any).
I agree with following solutions from Crack Team: %u2022 Imposing heavy penalties on branch managers or franchisees who give misinformation %u2022 Creating a back office alert system where cheque receipt is delayed, or where actual cheque details are incorrect from the data on the system %u2022 Cheque image upload while punching information %u2022 Charging higher interest for the late payments %u2022 New and innovative payment mechanisms, such as cheque truncation %u2022 Training of branch staff to familiarize them with head office RMS %u2022 Written permission from clients for any trading by remisers %u2022 Incentivising junior employees to be whistle blowers
