Snapshot of the Conference:

CCA office bearers on the invitation of CLA participated in the 1st Round Table Conference organised by the Cash Logistics Association (CLA) held on 11th December 2019 at Mumbai in which 35 Representatives of 14 Leading Banks were also present.

Banks that were a part of the Conference: SBI, IDBI, IDFC, ICICI, HDFC, Axis, IDBI, Standard Chartered, HSBC, RBL, Yes Bank, Kotak, IndusInd and Deutsche Bank.

  • The agenda of the Conference predominantly was to discuss the timelines of implementation of the RBI / MHA Guidelines in the DSB vertical of the cash management industry.
  • Banks were briefed about the level of readiness of all the CLA members towards 100% implementation of the Guidelines.
  • From the discussions, Banks constituting 80-85% of the entire DSB business seem to be “in principle” agreement for sharing the additional cost of the infrastructure arising from the investments done by the cash management agencies to comply with the Guidelines.
  • Banks have been given timelines to close the rates and give the Letter of Intent (LOI) as well as the formal agreements so that all the agencies will be able to be ready to implement the Guidelines latest by 31st March 2020.