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( For Internal use only )

UCO BANK

MANUAL OF INSTRUCTIONS

VOL. - 4

( DEPOSITS )

PART - I

UPDATED UPTO 30.11.2006

1



FOREWORD

Any financial entity is as strong or weak as the systems are. Therefore, in the liberalized and dereglated

en!ironment, the sstenance of the "ank de#ends to a large e$tent on internal controls and com#liance with

o#erational gidelines on a continos basis. %t is im#erati!e that sch gidelines are modified from time to time

to sit the e!er changing socio&economic en!ironment. As the bank comes ot with circlars at fre'ent inter!als,

it is simltaneosly necessary to re!ise the manals which codify the o#erational gidelines in a sb(ect&wise and

organized manner.

The "ank)s *anals of %nstrction were last #blished in +-. %n order to kee# #ace with the changed

scenario, we ha!e initiated ste#s to re!ise the manals as nder

+. /olme&% 0ash

1. /olme&%% Remittance

2. /olme&%%% "ills

3. /olme&%/ De#osits 45art&%, %% 6 %%%7

8. /olme&/ 9ndries 6 Acconts

:. /olme&/% 4% 6 %%7 Ad!ance ; <eneral

=. /olme&/%% Ad!ance ; 5riority 9ector&Agricltre

-. /olme&/%%A 9<9>

. /olme&/%%% Ad!ance ; 59 499% 6 Others7

+?. /olme&/%%%A 5*R> @ 9<9R> @ Rral osing Finance

9cheme @ 9BR9

++. /olme&%C Foreign E$change

A se#arate *anal for 0om#terized branch o#eration has been circlarized. ecessary efforts ha!e been

#t in to recast each of the manals by incor#orating the changes that took #lace dring the inter!ening #eriod of

more than fi!e years. %t is e$#ected that the re!ised manals will #ro!e to be sefl and refreshing to all the staff

members #articlarly for im#ro!ing their o#erational efficiency and confidence. Thogh tmost care has been

taken in #dating the manals of instrction, any #ro!ision thereof which does not conform to the latest

instrctions on the #oint may be broght to the notice of the concerned De#artment.

%t is fer!ently ho#ed that these manals will #ro!e to be sefl to the members of or staff for im#ro!ing

the 'ality of their work throgh #ro#er nderstanding of the significance of the tasks to be #erformed by them.

( V. SRIDAR )

0hairman 6 *anaging Director

2



UCO BANK

MANUAL OF INSTRUCTIONS

DEPOSITS (PART - I)

INDEX

Page No.

+. 0A5TER & % 0RRET DE5O9%T9 + &81

1. 0A5TER & %% 9A/%<9 "AG DE5O9%T9 82 &-:

2. 0A5TER & %%% RE0RR%< DE5O9%T9 -= &+?8

3. 0A5TER & %/ F%CED DE5O9%T9, G"ER >OHA DE5O9%T9 6 +?: &+88

DE5O9%T 0ERT%F%0ATE9

8. 0A5TER & / EW DE5O9%T 90E*E9 +8: &113

:. 0A5TER & /% TAC DED0T%O AT 9OR0E 4TD97 O 118 &12-

%TERE9T O T%*E DE5O9%T9

3



CHAPTER - I

CURRENT DEPOSITS

( CONTENTS )

Page No.

+. <eneral.....................................................................................................................................+

1. ow to o#en and who may o#en the Accont.................................................................................+

1.2 5hotogra#hs..............................................................................................................................1

2. %ntrodction...............................................................................................................................2

3. 5ro#er %nformation in Accont O#ening Form................................................................................8

8. Gnow yor 0stomer ..................................................................................................................:

:. Re'irement of 5A@<%R ............................................................................................................

=. 9ome %m#ortant %nstrctions......................................................................................................+?

-. O#ening of 0rrent Acconts.....................................................................................................+?

. Different Ty#es of 0stomer ......................................................................................................+:

%. %ndi!idal Acconts..........................................................................................................+:

%%. Hoint Acconts................................................................................................................+:

%%%. ind ndi!ided Family Acconts....................................................................................+=

%/. 9ole 5ro#rietory Acconts................................................................................................+=

/. 5artnershi# Acconts.......................................................................................................+-

/%. Bimited 0om#any Acconts.............................................................................................13/%%. Acconts of 0lbs, 9ocieties, Associations, 9chools etc......................................................1-

/%%%. Trst Acconts..............................................................................................................1

%C. E$ectors and Administrators Acconts.............................................................................2+

+?. 9#ecial 5recations in O#ening Accont of 9ole 5ro#rietary Firms 6

nregistered 5artnershi# Firms...............................................................................................21

++. 9tatement of Accont @ 5ass "ook ..............................................................................................22

+1. Transfer of Acconts................................................................................................................23

+2. ndesirable Acconts..............................................................................................................2

+3. 0losing of Acconts.................................................................................................................3?+8. Transfer to %no#erati!e Acconts...............................................................................................3+

+:. %ncidental 0harges @ 9er!ice 0harges etc.....................................................................................3+

+=. "alance 0onfirmation..............................................................................................................3+

+-. "alancing...............................................................................................................................31

+. >early 0losing........................................................................................................................32

Anne$re&% A@c. O#ening Form 4For Other than %ndi!idals7 D&+ 4Re!ised7 .. 33

Anne$re&%% A@c. O#ening Form 4For %ndi!idals7 D9&+A 40ombined7......................................3-

1?. Declaration form for 0rrent Acconts o#ened by %ndi!idals.......................................................8+

1+. 0rrent De#osit Accont Rles.................................................................................................81

4



CHAPTER - II

SAVINGS BANK DEPOSITS

( CONTENTS )

Page No.

+. <eneral...................................................................................................................................82

1. %ntrodction of Acconts...........................................................................................................82

2. 5hotogra#h..............................................................................................................................82

3. Who can o#en 9a!ings "ank Accont.........................................................................................83

8. *inimm "alance....................................................................................................................8:

:. O#ening of Accont..................................................................................................................8=

=. Re'irement of 5A@<%R o.....................................................................................................8

-. Gnow yor 0stomers..............................................................................................................8

. De#osit of 0ash.......................................................................................................................:3

+?. 0ollection 6 0learing of %nstrments.........................................................................................:3

++. Withdrawals............................................................................................................................:3

+1. ndesirable Accont................................................................................................................:-

+2. O!erdraft in 9" Acconts.........................................................................................................:-

+3. 9tanding %nstrctions...............................................................................................................:+8. %nterest...................................................................................................................................:

+:. 5ass "ook ..............................................................................................................................:

+=. Transfer of Accont.................................................................................................................=+

+-. Teller 9er!ice..........................................................................................................................=:

+. 9" Acconts of 9taff members..................................................................................................=-

1?. 9#ecial %ncenti!e to 9taff members............................................................................................=

1+. "alance 0onfirmation..............................................................................................................-?

11. Transfer to %no#erati!e Accont.................................................................................................-?

12. 0losing of Acconts.................................................................................................................-?

13. Transfer of "alances to new Bedger folio....................................................................................-+

18. "alancing...............................................................................................................................-1

1:. >early 0losing........................................................................................................................-1

1=. 9#ecial %nstrctions for 0om#terized branches...........................................................................-1

1-. 0O o&Frills 9a!ings "ank Accont.......................................................................................-2

1. 9a!ings "ank Accont Rles....................................................................................................-8

5



CHAPTER - III

RECURRING DEPOSITS

( CONTENTS )

Page No.

+. <eneral...................................................................................................................................-=

1. O#ening of Accont..................................................................................................................-=

2. De#osit of %nstalments 6 5enal 0harges......................................................................................-

3. Transfer of Accont..................................................................................................................?

8. 5rematre 5ayment...................................................................................................................2

:. %nterest on irreglar @ discontined Recrring De#osit Accont......................................................3

=. 5ayment in matrity.................................................................................................................-

-. Addition@Deletion@9bstittion@0hange of ames in RD Acconts..................................................

. 0on!ersion of Recrring De#osit Accont to FDR@G>@D0 Accont...............................................

+?. *ode of 5ayment of De#osit where aggregate amont Rs. 1?,???@& or more +??

++. 5ro!ision of interest at 'arterly closing...................................................................................+??

+1. O!erde Recrring De#osit....................................................................................................+??

+2. Rein!estment of O!erde Recrring De#osit Accont................................................................+??

+3. %ntimation of matrity date to de#ositors...................................................................................+?+

+8. "alancing.............................................................................................................................+?+

+:. R.D. Accont Rles...............................................................................................................+?1

6



CHAPTER - IV

FIXED DEPOSITS, KUBER YOJNA DEPOSITS AND

DEPOSIT CERTIFICATES

( CONTENTS )

Page No.

+. <eneral.................................................................................................................................+?:

1. Who can o#en an Accont.......................................................................................................+?:

2. %ntrodction of Acconts.........................................................................................................+?=

3. Rate of %nterest......................................................................................................................+?-8. O#ening 6 0ondct of Acconts..............................................................................................+?-

:. 9#oilt Fi$ed De#osit Recei#ts..................................................................................................++=

=. 0stody of Fi$ed De#osit Recei#t "ooks...................................................................................++=

-. Fi$ed De#osit Recei#ts...........................................................................................................++=

. Gber >o(na 6 De#osit 0ertificate...........................................................................................+1:

+?. 5rematre e$tension of Fi$ed De#osits 4FD@G>@D07.................................................................+23

++. %ssance of D#licate Term De#osit Recei#ts 4FD@G>@D07.........................................................+2=

+1. Transfer of Accont...............................................................................................................+3?

+2. Renewal of Term De#osits 4FD@G>@D07..................................................................................+32

+3. Renewal of o!erde Term De#osits 4FD@G>@D07......................................................................+3:

+8. %ntimation of de date to de#ositor ...........................................................................................+3=

+:. 0ash 5ayment 6 #ro!ision of %ncome Ta$ Act..........................................................................+3-

+=. 5ayment to third #arty............................................................................................................+8+

+-. Addition and deletion of names...............................................................................................+8+

+. O!erde Term De#osit Recei#t................................................................................................+81

1?. Transfer to %no#erati!e Accont...............................................................................................+82

1+. Restriction on #rematre withdrawal........................................................................................+82

11. "alancing.............................................................................................................................+82

12. "rief Fi$ed De#osit Accont Rles..........................................................................................+83

7



CHAPTER - V

NEW DEPOSIT SCHEMES

(CONTENTS)

Page No.

+. ew De#osit 9chemes 4<eneral7..............................................................................................+8:

1. Two Way De#osit 9cheme.......................................................................................................+8=

2. Friend&in&eed De#osit 9cheme...............................................................................................+:2

3. Fle$ible Fi$ed De#osit 4FFD7 9cheme......................................................................................+:=

8. 0O Ba$mi >o(na..................................................................................................................+==

:. 0O Ta$ 9a!er De#osit 9cheme 1??:......................................................................................+-+

=. 9#ecial De#osit 9cheme for 9enior 0itizens...............................................................................+-3

-. Floating Rate De#osit 9cheme.................................................................................................+-=

. 0O 9an(ee!an "ima >o(na....................................................................................................+-

8



CHAPTER - VI

TAX DEDUCTION AT SOURCE ON INTEREST ONTIME DEPOSITS

( CONTENTS )

Page No.

+. <eneral.................................................................................................................................118

1. Iantm of interest on which TD9 will be a##licable.................................................................118

2 Rate of TD9........................................................................................................................118

3. TD9 is not a##licable in following cases...................................................................................118

8. %m#ortant #oints to take a note.................................................................................................11:

:. "ranches need not dedct ta$...................................................................................................11:

=. When ta$ is to be dedcted......................................................................................................11=

-. Form +8 6 role of branch.....................................................................................................11=

. Acconting 5rocedre.............................................................................................................11-

+?. Ta$ Dedction Acconting mber 4TA7...............................................................................11-++. De#osit of Ta$ in <o!ernment Accont....................................................................................11-

+1. %ssance of 0ertificate for TD9...............................................................................................11-

+2. 9bmission of Annal Retrns................................................................................................11

+3. "ank)s #ower to make ad(stment............................................................................................11

+8. Refnd of Ta$.......................................................................................................................11

+:. 5enalty for non com#liance.....................................................................................................12?

+=. 9#ecimen of Form +8..........................................................................................................12+

+-. 9#ecimen of Form +:A..........................................................................................................123

+. 9#ecimen of Form 1:A..........................................................................................................128

1?. 9#ecimen of Form 1=A..........................................................................................................12=

9



CHAPTER - I

CURRENT

DEPOSITS

1 .

GENERAL

+.+ One of the

most

im#ortant

fnctions

of the

branch is to

acce#t

de#osits

from the

#blic for

the #r#ose

of lending.

J0rrent

Accont)means a

form of

demand

de#osit

wherefrom

withdrawal

s are

allowed

any

nmber of

times

de#ending

#on the

balance in

the accont

or #to a

#articlar

agreed



amont and

will also

inclde

other

de#osit

acconts

which are

neither

9a!ings

De#osits

nor Term

De#osits.

+.1 %n crrent

acconts,

as the

money

de#osited

can be

withdrawn

at any time,

as there is

no limit as

to the

nmber of

withdrawal

s, there is

significant

work

in!ol!ed

for the

bank.

0onsiderin

g this, the

bank does

not #ay any

interest on

sch

acconts.



lies

d7 9ole

5ro#

rietor

shi#

e7 Regi

stere

d

and

nre

giste

red

5artn

ershi

#

firms

.f7 5ri!a

te

and

#bli

c

limit

ed

com

#anie

s.

g7 0lband

socie

ties

h7 Trst

s

i7 Othe

rs

!iz.

E$ec

tors

andAdm

inistr

ators

.

Bi'i

dator

s.

(7 <o!e

rnme

nt

andsemi



&

go!e

rnme

nt

bodi

es.

k7 5ro!i

dent

Fnd

s

l7 "ank

s,

B%0,

9bs

idiari

es of

<%0etc.

m7 "efo

re

o#en

ing a

0rr

ent

Acco

nt,

a

decla

ratio

n is

re'i

red

to be

obtai

ned

from

the

a##li

cant

regar

ding

credi

t



facili

ties,

if

any,

en(o

yed

by

the

a##li

cant

at

any

other bank

and

in

case

sch

credi

t

facili

ties

are

en(o

yed,

the

#arti

clar

s

there

of

are

to be

frni

shed.

R"%

has



s#eci

ficall

y

obtai

ning

a

o&

Ob(e

ction

0erti

ficat

e

from

the

lendi

ng

bank

4s7.

*AAB OF %9TR0T%O9 – VOL. 4 (DEPOSITS) PART-I



%$O 'AN

%t is to be careflly noted by all branches@offices that non&adherence to the abo!e disci#line cold be

#ercei!ed by R"% to be abetting the si#honing of fnds and sch !iolations wold make the "ank

liable for #enalty nder "anking Reglation Act, +3.

n7 Where the de diligence is carried ot on the re'est of a #ros#ecti!e cstomer who is a

cor#orate or large borrower en(oying credit facilities from more than one bank, the branch may

inform the consortim leader, if nder consortim, and the concerned banks, if nder mlti#le

banking arrangement.

"ranches may o#en crrent acconts of #ros#ecti!e cstomers in case no res#onse is recei!ed

from the e$isting bankers after a minimm waiting #eriod of a fortnight. %f a res#onse is

recei!ed within a fortnight, branches shold assess the sitation with reference to information

#ro!ided on the #ros#ecti!e cstomer by the bank concerned and are not re'ired to solicit aformal no ob(ection, consistent with tre freedom to the cstomer of banks as well as needed

de diligence on the cstomer by branch.

"ranches are ad!ised to be gided by the need for effecti!e de diligence in these matters as

also the ob(ecti!e of cstomer satisfaction and ensre #rom#t and serios attention to references

recei!ed from banks in this regard.

2 . PHO!OGRAPHS

For all o#erati!e de#osit acconts o#ened on or after Hanary, +, +3, branches shold obtain

#hotogra#hs at the time of o#ening of the acconts of the de#osits@accont holders who are athorised

to o#erate the acconts. These #hotogra#hs shold be affi$ed on accont o#ening forms and s#ecimen

signatre cards. 0ost of sch #hotogra#hs wold be borne by the cstomers. JO#erati!e de#osit

acconts) for this #r#ose wold mean all de#osit acconts which are o#erated by che'es.

JAthorised o#erators) wold mean all the #ersons who are athorised to o#erate the accont as #er

declaration made at the time of o#ening of the accont or as #er declaration sbse'ently made by the

accont holders in modification of their earlier instrctions JAthorised O#erators) wold also mean

the #ersons who are athorised to o#erate the "ank accont on behalf of the firm@ com#any as is

mentioned in the JDeed)@J*emorandm 6 Article of Association) or in similar other #a#ers.

owe!er, "anks, B%0, sbsidiaries of <%0, Bocal athorities, <o!ernment de#artments, 9emi

<o!ernment bodies, 5ro!ident Fnds etc. wold remain otside the #r!iew of this re'irement. This

re'irement may also be wai!ed for staff members o#ening crrent accont, at the discretion of the

"ranch@*anagers.

1.3 0rrent accont in the name of a minor shold not normally be o#ened.

*AAB OF %9TR0T%O9 – VOL. 4 (DEPOSITS) PART-I 2



%$O 'AN

1.8 A 0rrent accont shold not be o#ened which is to be o#erated nder a thmb im#ression, cross

marks or signatre by hand of another #erson.

1.: omination facility is a!ailable in res#ect of 0rrent accont of indi!idals and sole #ro#rietorshi#

firms.

1.= For the benefit of credit disci#line, de#ositors while o#ening crrent accont shold be insisted #on

for frnishing a declaration that they are not en(oying any credit facility with any other bank or

declaration gi!ing #articlars of credit facilities en(oyed with other "anks. Or crrent accont

o#ening form ; D&+ 4Re!ised7 already bears sch a declaration clase.

"ranches are not only to be meticlos in obtaining this declaration from the crrent accont holders,

bt also where the a##licant is en(oying credit facility 4fnd based and non&fnd based7 from the

banking system, the accont will not be o#ened withot s#ecifically obtaining a o Ob(ection

0ertificate from the leading bank.

1.- 0rrent accont holders shold be made well aware that they mst not isse che'es withot first

ensring sfficient fnds in their accont to meet the amont of che'es, so issed. %f they do not

adhere to the abo!e financial disci#line, they wold incr criminal liability nder the #ro!ision of

section +2- of % Act, +--+. %n addition, the "ank reser!es right to take ste#s to get the accont closed

if fre'ent retrn of che'es de to want of fnds is noticed. A sitable clase to that effect has already

been incor#orated into or crrent accont rles.

1. 0rrent accont is meant for genine banking re'irements only and branches are to ensre that the

facility is not missed.

. IN!ROD%$!ION

2.+ E!ery crrent accont shold be #ro#erly introdced.

2.1 %ntrodction of a crrent accont is not merely a formality to get #rotection @s +2+ of % Act, +--+,

bt also to enable #ro#er identification of the #erson4s7 o#ening sch accont, so that it wold be

#ossible to trace the #erson4s7 later in case of need.

2.2 Fll #articlars of the introdcer like fll name, address, #rofession@bsiness, "ank accont nmber

etc. mst be a!ailable to the bank and be #ro#erly recorded.

2.3 The introdcer is sally e$#ected to come to bank #ersonally for the #r#ose. %n e$ce#tional

circmstances, when he is nable to call at the branch, the fact of ha!ing introdced a new accont

shold be confirmed by him in writing. For obtaining sch confirmation,




%$O 'AN

branch may, immediately on getting the accont o#ened, write a letter to sch introdcer thanking him

for introdcing the accont and send the same by Registered 5ost.

2.8 When the accont o#ening form bears the signatre of *anager@official of other branch as introdcer,

a#art from !erifying their signatres with the s#ecimen signatre a!ailable on record, a written

confirmation to that effect shold be obtained from sch introdcer4s7.

2.: Till sch time the confirmation is recei!ed, 4as in case of #oint no. 2.3 and 2.8 abo!e7 branches shold

not collect instrments throgh these newly o#ened acconts.

2.= 9ch letters of confirmation mst be well stitched with the Accont O#ening forms and be #reser!ed.

2.- *o +an ,ntro-u+e a $urrent A++ount &

i7 Any crrent accont holder whose accont is at least si$ months old and is being o#erated in a

satisfactory manner.

ii7 A res#onsible member of the locality, know to the *anager or any officer of the branch,

althogh the introdcer himself may not be an accont holder of the branch.

iii7 %ntrodctory letter from the commanding officer of the concerned military nit along with the

identity card of the military #ersonnel shall ser!e the #r#ose of introdction.

i!7 Any officer of the bank ha!ing signing #ower.

!7 Any other confirmed staff member of the branch.

N' & "efore acce#ting introdction from a member of staff, the *anager@Asst. *anager@ Officer in

charge of the De#osit De#artment shold ha!e a detailed discssion with the staff member

concerned as to what e$tant he knows the #ros#ecti!e accont holder. %ntrodction from

member of staff shold not be acce#ted nless after sch discssion the Officer concerned is

satisfied that the staff member introdcing and the introdced are sfficiently known to each

other to eliminate all #ossibility of acce#ting a fradlent accont in the books of the branch.

2. When an accont is o#ened by a #arty who is not #ersonally known to any of the Officers of the

branch, one of the not&too&(nior em#loyees of the branch li!ing in the !icinity of

the new cstomer shold be asked to make casal confidential in'iries abot him and sbmit a re#ort

on the following form, within 3- hors.




%$O 'AN

Se+,/en

% had been to and ha!e in'ired abot

4Bocality of new cstomer7 4ame of the cstomer7

% am informed that the #arty is residing@carrying on bsiness there since years

Date 9ignatre

9ch re#ort shold be insisted #on in all cases where the acconts o#ened are with initial de#osit by

other than cash and@or with balances of Rs. +?,???@& and abo!e. These re#orts shold be held along

with the Accont O#ening Form of the #arty and shold be followed by the sal detailed re#orts by

the Asst. *anager@ead 0ashier.

2.+? The introdcer shold be re'ired to sign at the colmn Kintrodced by) at the bottom of Accont

O#ening Form. %n this connection the following #oints shold be ke#t in !iew.

a7 %f the introdcer is an accont holder, his signatre shold be !erified by officer concerned.

b7 %f the introdcer is not an accont holder bt #rominent member of local commnity known to

*anager or any other Officer of the branch, the *anager@Officer knowing the introdcer shold

gi!e a certificate to the effect that introdcer is known to him and signed in his #resence.

c7 %f the introdcer is a member of staff, he shold sign introdction in his #ersonal ca#acity and

not on behalf of the "ank.

9ometimes, the introdction has been signed in Accont O#ening Forms of cstomers as nder

;

KFor 0O "ank

9d@&

*anager@Asst. *anager@Officer

"ranch

The introdctions made in this manner are irreglar.

0 . PROPER INFOR"A!ION IN A$$O%N! OPENING FOR" &

Or "ank has introdced a common accont o#ening form for %ndi!idals 4D9 +A 0ombined7 and one

for other than indi!idals 4D + Re!ised7. The accont o#ening form is common for de#osits nder

0rrent Accont@ 9a!ings "ank@ Recrring De#osit and




%$O 'AN

0O Bakshmi >o(na. De#ending #on the constittion of the cstomer, sitable accont o#ening form

is to be obtained. L D9 +A 0ombined is sed for all %ndi!idals acconts whether 9a!ings, 0rrent, RD

or 0O Bakshmi >o(na and Form D&+ Re!ised is sed for others like 5artnershi# Firms, 0om#anies45ri!ate or 5blic Bimited7, F, 5ro#rietary 0oncerns, 0lbs, 9ocieties, associations, <o!ernment

De#artments or Bocal "odies, etc.M

The accont o#ening form D&+ 4Re!ised7 shold in!ariably contain

i7 Fll name of the a##licant with age. name of father@hsband, 5A wehre a!ailable

ii7 Fll #ostal address with #lot no.@sho# no.@lane no.@street no.@ward no.@holding no. etc. as to theirN

a7 5ermanent address

b7 5resent Residential address

c7 "siness@Officer address

iii7 5rofession@line of bsiness@ser!ice #articlars.

i!7 When accont of a firm or com#any is re'ired to be o#ened a#art from all the details abot the

acti!ities and location of the firm@com#any, all the abo!e #articlars of the

#ro#rietor@#artners@directors are to be mentioned.

!7 5articlars abot accont and credit facilities with other bank4s7.

!i7 Tele#hone@0ell #hone nmber 4if any7 are to be noted.

N' & A se#arate #iece of #a#er may be attached to, in case the s#ace #ro!ided for in D&+

4Re!ised7 form is fond to be insfficient for the abo!e #r#oses.

. NO #O%R $%S!O"ER

"efore o#ening any de#osit accont, the de diligence as re'ired nder JGnow >or 0stomer)

4G>07 shall be made as #er gidelines frnished below

i7 For identification of the 0stomer of different acconts, the following docments as mentioned

below thereagainst may be relied #on.

$usto/er I-ent,,+at,on Pro+e-ure

Features to 3e 4er,,e- an- -o+u/ents t*at /ay 3e o3ta,ne- ro/ +usto/ers

Features Do+u/ents

Acconts of indi!idals 4i7 5ass#ort 4ii7 5A 0ard 4iii7 /oter)s %dentity 0ard

; Begal name an any other names 4i!7 Dri!ing Bicence 4!7 %dentity 0ard 4sb(ect to the

bank)s satisfaction7 4!i7 Better from a recognized #blic s e dathority or #blic ser!ant !erifying the identity and

residence of the cstomer to the satisfaction of bank.

0OTD.




%$O 'AN

Features Do+u/ents

; 0orrect #ermanent address 4i7 Tele#hone bill 4ii7 "ank accont statement 4iii7 Better

from any recognized #blic athority 4i!7 Electricity bill

4!7 Ration 0ard 4!i7 Better from Em#loyer 4sb(ect to

satisfaction of the bank7

4any one docment which #ro!ides cstomer information

to the satisfaction of the bank will sffice7

In +ase o Pror,etors*,5 t*e Pror,etor 6oul- nee-

to 3e ,-ent,,e- as a3o4e.

For Rral branches in the absence of any of the abo!e

docments, Ration 0ard@ 0ertificate from Bocal "ody willsffice for establishing identity and address of the

a##licant.

Acconts of com#anies 4i7 0ertificate of incor#oration and memorandm 6

; ame of the com#any Articles of *emorandm 6 Articles of Association

; 5rinci#al #lace of bsiness 4ii7 Resoltion of the "oard of Directors to o#en an

; *ailing address of the com#any accont and list of officials athorized to o#erate their

; Tele#hone@Fa$ mber accont 4iii7 %dentification of athorized signatories

shold be based on #hotogra#hs and signatres dly

attested by the com#any 4i!7 5ower of Attorney, if any,granted to its managers, officers or em#loyees to

transact bsiness on its behalf 4!7 0o#y of 5A allotment

letter 4!i7 0o#y of the tele#hone bill.

Acconts of #artnershi# firms 4i7 Registration 0ertificate, if registered 4ii7 5artnershi#

; Begal name Deed 4iii7 5ower of Attorney granted to a #artner or

; Address an em#loyee of the firm to transact bsiness on its

; ames of all #artners and their behalf 4i!7 Any officially !alid docment identifying the

addresses #artners and the #ersons holding the 5ower of Attorney

; Tele#hone nmbers of the firm and and their addresses 4!7 Tele#hone bill in the name of firm@ #artners #artners.

Acconts of trsts 6 fondations 4i7 0ertificate of registration, if registered 4ii7 5ower of

; ames of trstees, settlers, Attorney granted to transact bsiness on its behalf

beneficiaries and signatories 4iii7 Any officially !alid docment to identify the trstees,

; names and addresses of the settlers, beneficiaries and those holding 5ower of

fonder, the managers@ directors Attorney, fonders@managers@directors and their

and the beneficiaries addresses 4i!7 Resoltion of the managing body of the

; Tele#hone@ fa$ nmbers fondation@association 4!7 Tele#hone bill.




%$O 'AN

All Docments@0ertificates shold be !erified from Original and dly certified. File co#ies of

dly certified docmentary e!idence of identity mst be readily retrie!able and mst be retained

for stattory #eriod of +? years.

ii7 5articlar care is to be taken to identify the ownershi# of acconts and safe de#osit

facilities. This im#lies that the #erson@#ersons who o#erate the accont is@are the genine

#erson@#ersons and is legally athorised to o#erate the accont as #ro#rietor, #artners, director,

trstee or nder registered #ower of attorney. %n other words no benami accont or accont

ha!ing ss#icios identify shold be allowed to be o#ened. 5ros#ecti!e cstomers) signatre on

Accont O#ening Form 4AOF7 shold be obtained in #resence of "ank)s Officials.

iii7 For #ros#ecti!e cor#orate bodies, certificate of incor#oration, certificate for commencement of

bsiness etc., shold be obtained and for other bsiness cstomers, certificate of enlistment,

trade license etc. shold be insisted #on. %n case of dobt !erification shold be made at the

concerned Office.

i!7 %n addition, residential address of the #artners@#ro#rietors@#romoters@directors shold be insisted

#on as a means to establish identity. %n case of ss#icion !isit may be made at the #lace of

working of the accont holder and the !isit re#ort shold be ke#t in the accont o#ening folder.

!7 Whene!er #ossible, the #ros#ecti!e cstomers shold be inter!iewed #ersonally. Acconts mst

be got #ro#erly introdced by the indi!idal@firms@com#anies acce#table to the bank. A letter of

thanks shold be sent to the introdcer on the day of o#ening the accont.

!i7 %n case of acconts o#ened by intermediaries on behalf of a third #arty, the bank shold seek

confirmation from a##licants whether they are acting on behalf of others and if so, bank shold

obtain satisfactory e!idence of the identity and ca#acity of sch a##licants. "ank shold also

obtain satisfactory docmentary e!idence of the nderlying #rinci#al)s identity and the sorce of

fnds.

!ii7 %n res#ect of one of transactions of large size not in!ol!ing a reglar cstomer, the identity of both the sender of fnds and reci#ient as also the economic@ bsiness acti!ity shold be in'ired

to the satisfaction of the bank.

!iii7 9#ecial attention shold be #aid to all com#le$, nsal large transactions and all

nsal #attern of transactions, which ha!e no a##arent nderlying economic or bsiness

#r#ose. %t shold be clearly noted that significant bsiness transac&tions will not be condcted

with the cstomer who fail to #ro!ide e!idence of their identity or do not frnish satisfactory

#r#ose of the significant banking transaction which may be nsal or nrelated to their

normal banking transactions.




%$O 'AN

i$7 The stats of the accont and not the length of relationshi# of the cstomer with the "ank shold

be the main criteria for considering high !ale transactions.

While im#lementing the abo!e gidelines it is to be ensred that none of the legitimate cstomers is

denied the normal banking ser!ices.

7 . RE8%IRE"EN! OF PER"ANEN! A$$O%N! N%"'ER (PAN) OR GENERAL

INDE9 REGIS!ER (GIR) N%"'ER HILE OPENING $%RREN! A$$O%N!

With effect from +st o!ember +-, it has become obligatory on the #art of "anks to obtain 5A or

<%R nmber from the #ersons o#ening crrent accont nder the #ro!ision of Rle ++3" of %ncome

Ta$ Rles +:1. 5A or <%R mber is to be mentioned on the accont o#ening form. The details of

gidelines in this regard are frnished below.

i7 E!ery #ros#ecti!e accont holder at the time of o#ening crrent accont shall be re'ired to

frnish 5A or <%R nmber on the accont o#ening form.

ii7 %f the #arty is not an %ncome Ta$ Assessee, he shall ha!e to gi!e declaration in Form o. :?.

iii7 %f the #arty is not an %ncome ta$ assessee becase he deri!es all his income only from

agricltral sorces, he shall ha!e to gi!e declaration in Form o. :+.

i!7 nder the #ro!ision of Rle ++3 " of %T Rles +:1, it wold be necessary for the "ank to

!erify the #roof of residence also at the time of o#ening accont.

N' & 5ROOF OF RE9%DE0E can be !erified from any one of the following docments.

a7 Ration card

b7 5ass#ort

c7 Dri!ing licence

d7 %dentify card issed by any instittion

e7 Tele#hone "ill@Electricity "ill showing residential address.

f7 Any docment or commnication issed by any athority of central go!ernment@ state

go!ernment or local bodies showing residential address.

g7 Any other docmentary e!idence in s##ort of the residential address.

!7 One co#y of each of form :?@Form :+ recei!ed dring a financial year shall be forwarded to the

concerned Director of %ncome Ta$ 4%n!estigation7 in two instalments i.e. the forms recei!ed

from +st A#ril to 2?th 9e#tember shall be forwarded latest




%$O 'AN

by 2+st October of the same year and the forms recei!ed from +st October to 2+st *arch shall

be forwarded latest by immediately following 2?th A#ril.

N' & One co#y of each of Form :?@Form :+ is to be retained at the branch along with the

accont o#ening form.

: . SO"E I"POR!AN! INS!R%$!IONS5 !O 'E ADHERED

a7 The de#ositor4s7 shall be re'ired to #t their signatre on accont o#ening form, s#ecimen

signatre card and other related declaration4s7, in the #resence of ead of the branch@officer&in&

charge of de#osit de#artment@any other officer of the branch, who will #t his@her signatre on

s#ecimen signatre card confirming the abo!e.

b7 The o#ening of new accont shold be athorised by the ead of the branch or at large /B and

EB branches by the 9r. *anager@*anager in charge of the de#osit@ acconts de#artment.

c7 Residential address of the #ros#ecti!e de#ositor4s7 is to be !erified from the docments as

mentioned in #oint o. :437. owe!er, in case of ss#icion, the address, so frnished shold be

!erified by the inde#endent !isit by any official of the branch and sch a re#ort in writing shall

be ke#t on record.

d7 When the introdcer has not !isited the branch in #erson, a letter of confirmation shold be

obtained from him.

e7 5hotogra#h of all the de#ositors mst be in!ariably obtained in all the acconts.

f7 "ranches shold be e$tra !igilant in newly o#ened acconts. A close watch is

re'ired at least for first three months in order to gard against any fradlent or dobtfl

transaction taking #lace therein. The first che'e book issed to a cstomer mst contain the

words, Kew Accont on all lea!es.

g7 "ranches shold e$ercise e$tra !igil on collection@clearing transaction of high !ale instrments

in the newly o#ened acconts.

h7 5A@<%R mber or alternately declaration in Form :?@:+ mst be obtained at the time of

o#ening crrent accont.

; . OPENING OF $%RREN! A$$O%N!S

General Gu,-el,nes

‰ %n the small and medim size branches, *anager shold athorised to

o#ening the crrent acconts. %n bigger branches, this work may be handled by

Officer&in&charge of De#osit De#artment. 4Also #lease refer #oint no. =4b7 abo!e7




%$O 'AN

‰ The minimm balance re'ired o#ening a crrent accont 6 the minimm balance to be

maintained is de#endent #on the area where the branch is located and is as #er the schedle

frnished below

*inimm "alance 9chedle 0rrent Accont

"etrool,tan %r3an Se/,<%r3an Rural

%ndi!idals 2??? 2??? 1??? +???

Others 8??? 8??? 18?? 1???

‰ %f the abo!e sti#lated minimm balance is not maintained in sbse'ent corse of transaction

#enal charges as may be fi$ed by the bank from time to time shold be realised. The #ros#ecti!e

accont holder4s7 shold be re'ired to fill # and sign accont o#ening form and other #a#ersin the #resence of officer concerned.

‰ The accont holder shold be #ro#erly introdced as has been mentioned infra.

‰ There are chances that a branch may recei!e re'est for o#ening an accont whose title is same

or has great similarity to an e$isting accont. %n sch cases the ndernoted #rocedre shold be

followed.

a) A++ounts ,n t*e sa/e na/e 3y -,erent art,es &

The branch can re'est the cstomer to slightly alter the title of his accont or to se a

sffi$.

9##ose branch is ha!ing an accont in the name of *@s Ram Trading 0om#any, who are

cloth merchants. Another #arty *@s Ram Trading 0om#any, dealing in %ron and steel

a##roaches the branch for o#ening crrent accont. %n sch case, branch may re'est the

second cstomer to add the word K9teel *erchant in brackets after the title of the

accont. %n the same way, branch may re'est the first cstomer 4who has already o#ened

the accont7 to add the work K0loth *erchant in brackets after the title of the accont,

bt only after e$#laining to him the sitation, and that too, only if the accont holder

agrees.

b7 A++ount ,n sa/e na/e 3y sa/e arty &

%n case, an accont holder already has one accont titled K*ohan Trading 0o., Bater the

same accont holder wants to o#en another accont in the same name i.e. *ohan Trading

0o. %n sch cases, branch shold re'est the #arty to se the sffi$ like KAccont o. +

and Accont o. 1.




%$O 'AN

Note & %n both the abo!e cases, branch shold re'est the accont holders to made se of

the sffi$ to the title in all their corres#ondence with the bank, #articlarly in the

#ay&in&sli#s, che'es etc.

c7 A++ounts 6,t* s,/,lar na/es 3y -,erent art,es

9##ose, branch already has a crrent accont in the name of K*ohan Bal 6 9ons.

Another accont in the name of *ohan Bal 6 "ros. is o#ened in sch a case the ledger

kee#er shold be ad!ised to be catios by noting the words. K0are ; similar accont on

ledger headings of both the acconts. These instrctions shold #referably be written in

red ink to drawn immediate attention.

‰ The accont o#ening form shold be careflly scrtinised by officer concerned and if he is

satisfied that it has been correctly and #ro#erly filled in and signed and that all the rele!ant

docments ha!e been recei!ed he shold #t his signatre in fll in the colmn K9ignatre

!erified in AOF and s#ecimen signatre card. e shold also fill in and athenticate colmns

abot K9tate of o#eration i.e. single or (oint and name of accont at the left hand bottom corner.

9ignatre of introdcer shold also be !erified on accont o#ening form.

‰ The accont o#ening form shold be referred to *anager for his athority to o#en the accont.

*anager shold #ro#erly scrtinise it in relation to !arios #oints mentioned in foregoing #ages.

%f satisfied, he shold gi!e his #ermission by signing in the bo$ KO#en the accont in the right

hand bottom corner of accont o#ening form.

‰ While o#ening the accont, the first de#osit shold be in cash. 5ay&in&sli# 4Form o. D&27

shold be sed which as sal shold be entered in cash scroll and sent to cash de#artment for

recei!ing cash from de#ositor.

‰ On recei!ing the #ay&in&sli# after recei#t of cash, the crrent accont shold beo#ened after making an entry in accont o#ened and closed register. 0are shold be taken to see

that #ay&in&sli# contains K0ash Recei!ed stam# dly signed by 0hief@ead 0ashier Accont

nmber shold also be written on accont o#ening form.

‰ 0he'e book shold be issed after com#leting all the necessary formalities. 4Refer 0ha#ter /%%

K0he'e "ooks7

‰ %n the ledger, the accont shold be o#ened al#habetically and all necessary




%$O 'AN

#articlars sch as name of accont holder4s7 address, accont nmber, instrctions for

o#eration of accont, che'e book nmber etc. shold be written on ledger folio. All the

#articlars shold be checked and initialed by Officer concerned who shold also sign on the

ledger folio. 4For detailed instrctions, kindly refer 0ha#ter /% KO#ening of acconts7

‰ 5ass book dly checked and signed by officer concerned, if so desired by cstomer shold be

issed otherwise standing instrctions for sending statement of accont shold be noted.

‰ 5articlars sch as issance of #ass book, che'e book, nmbers, initial de#osit etc. shold be

noted on the re!erse of accont o#ening form against a##ro#riate colmns nder initials of

Officer concerned.

The bank has introdced tierised crrent acconts to #ro!ide additional ser!ices to the crrent accont

holder cstomers de#ending #on the a!erage balance maintained in their crrent acconts. These

facilities are a!ailable in all 0"9 enabled branches and selected flly com#terised branches at

#resent. The three tierised crrent acconts are namely. "asic, 0O !ale and 0O 5remim. The

featres of the scheme are gi!en in a tablar form as nder

*AAB OF %9TR0T%O9 – VOL. 4 (DEPOSITS) PART-I 13*



$%RREN! A$$O%N! PROD%$!S

Features oere-

",n,/u/ "ont*ly A4erage 'alan+e

(est,/ate- as a4erage o -a,ly

3alan+e)

A++ount oen,ng 'al.

$*arges on Non<"a,ntenan+e o

"ont*ly ",n,/u/ 'alan+e

!ranser=$lear,ng $*arges &

l

l

l

l

l



% $ O 'A N(

1 4

*A D EAB OF % D 9 T R E 0 T % O D 9 – V OL

. 4 ( DEP O SIT S ) PART-I

1 5

$%RREN! A$$O%N! PROD%$!S

Features oere- 'as,+ %$O Value

l Instant +re-,t o outstat,on #to Rs. +8,??? #to Rs. +8,??? in +st yr 6

+ * e > u e s #to Rs. 18,??? after + yr

of satisfactory ser!ices

l $*e>ue 3oun+e rote+t,on o #to Rs. 18,???

(OD a+,l,ty to 3e a-?uste-

,n /a@,/u/ o : -ays)

l State/ent o A++ount Iarterly, additional Free&fortnightly

charged at Rs. 1-@& inter!als charged at

#er statement Rs. 1- #er statement

l Sto Pay/ent $*arges Rs. 8:@& #er che'e Free

l Stan-,ng Instru+t,on $*arges Rs. +1@& #er transaction Free

l D,s+ount ('ran+* "anagers Fll 0harges, +8P discontQ

-,s+ret,on) on lo+Bers de#ending on the ty#e of 5reference

(su3?e+t to a4a,la3,l,ty o Lo+Bers) locker

l A!" $ar-= De3,t $ar- Free Free

l 'alan+e $ert,,+ate As a##licable 8?P discont

l Sol4en+y $ert,,+ate As A##licable +8P discont

l $*e>ue P,+B u o Rs. 2?@& #er !isit

l Ho/e Del,4ery o DDs= o >es

$*e>ue 3ooB=Pass3ooB 4corier charges

will be reco!ered7

l A++,-ental Insuran+e o o

l Free G,t o >es,

#to Rs. 8?@&



% $ O 'A N(



%$O 'AN

C . DIFFEREN! !#PES OF $%S!O"ER

I. In-,4,-ual A++ounts &

a7 Accont O#ening Form, D9 +A 4combined7 and letter of indemnity for collection

of che'es and bills etc. and s#ecimen signatre card shold be signed by the #erson

o#ening the accont in his own hand in #resence of the officer in charge of the

de#artment.

b7 /ernaclar 9ignatre %ndemnity Better 4D&327, where!er necessary, shold be obtained.

owe!er, an indemnity letter need not be insisted #on where the

accont o#ened is o#erated nder signatre in the regional langage and it is #ossible to

get sch signatre !erified by an officer at the branch. As far as #ossible, the #erson

witnessing the /ernaclar 9ignatre %ndemnity Better 4D&327 shold be an inde#endent

#erson known to the "ank. %f, howe!er, sch a #erson is not a!ailable the *anager may

#t his signatre as a witness after the contents of the %ndemnity Better ha!e been

e$#lained to the cstomer.

AI. o,nt A++ounts

a7 The name of all the (oint accont holders shold be written on accont o#ening form D9

+A 40ombined7 and be signed by all of them.

b7 All the Hoint olders shold be re'ired to sign the declaration as mentioned in

Anne$re&%% of this cha#ter, and they shold also gi!e clear and #recise

instrctions abot o#eration of the accont. The instrction gi!en in the Declaration

shold agree with that gi!en in the AOF.

The blank s#ace in the Declaration shold be filled as a##licable and shold be

athenticated by obtaining signatre of all the (oint accont holders at the margin of the

declaration.

(For details, please refer to chapter on !cco"nt of #oint Persons$%

c7 %ndemnity Better for collection of bills and che'es etc. dly signed by all the (oint

accont holders shold be obtained. o se#arate "&3? is to be taken as it is already

incor#orated in the accont o#ening form.

d7 /ernaclar %ndemnity Better 4Form D&327 where!er necessary, shold be obtained. %t

shold be signed by all the (oint accont holders and not only by the #erson4s7 who are to

o#erate the accont by signing in !ernaclar.

e7 9#ecimen signatre of all the (oint accont holders on s#ecimen signatre card shold be

obtained.




%$O 'AN

f7 %f the (oint accont holders want to em#ower an agent or third #arty to o#erate the (oint

accont, the athority shold be signed by all the accont holders.

'I. H,n-u %n-,4,-e- Fa/,ly A++ounts &

a7 Accont O#ening Form 4D&+7 Re!ised shold be signed by the &arta only in the

following manner.

For Ra/lal Sons (H.%.F.)

RA* BAB

arta

b7 Hoint ind Family Better 4Form A&=7 shold also be obtained from the &arta and from

all the ma(or co&#arceners. First signatory shold be the 'arta and all ma(or co&#arceners

sign after him in the indi!idal ca#acity.

c7 Where there are minors in a Hoint ind Family, it is desirable to ha!e the family letter

4Form A&=7 signed by gardians of minor members on behalf of the minors, bt it need

not always be insisted #on. %n any case, the names of minor members and their dates of

birth shold be noted thereon so that the dates on which they wold attain the age of

ma(ority may be diarised and a fresh letter 4A&=7 be taken when any minor attains

ma(ority. %t is also im#ortant that he signs the earlier letter 4A&=7 in ratification of #re!ios

transactions.

d7 %ndemnity Better for collection of bills and che'es etc. shold be obtained from the'arta as well as all the ma(or co&#arceners. o se#arate "&3? is to be taken as it is already

incor#orated in the accont o#ening form.

e7 /ernaclar 9ignatre %ndemnity Better 4Form D&327, if necessary, shold be obtained.

IV. Sole Pror,etory A++ounts &

a7 Accont O#ening Form 4D&+7 Re!ised shold be signed by the sole #ro#rietor in his

#ersonal ca#acity and not on behalf of the firm. %t shold be signed as nder

D.9. ansra(

Sole Pror,etor o La@/, !ra-ers

b7 The declaration KA on the re!erse of the accont o#ening form shold be signed by the

sole #ro#rietor in his indi!idal ca#acity.

c7 The s#ecimen signatre of the #ro#rietor a##earing on the accont o#ening form,

s#ecimen signatre card and %ndemnity letter for collection of bills and che'es etc.

shold be signed as follows




%$O 'AN

For La@/, !ra-ers

D.9. ansra(

Pror,etor

Note & 9ometimes a #artnershi# firm is sole #ro#rietor of another firm. 9##ose *@s.

Gamal 6 "ros., a #artnershi# firm is sole #ro#rietor of *@s Gamal Trading

0om#any. %f branch has to o#en an accont in the name of *@s. Gamal Trading

0om#any the o#eration in the accont will be as nder

For a/al !ra-,ng $o.

For Kamal & Bros.

GA*AB AT

Partner

Pror,etor

d7 /ernaclar %ndemnity Better 4Form D&327, where!er necessary, shold be obtained.

V. Partners*, A++ounts &

a7 9ection 3 of %ndian 5artnershi# Act +21, defines 5artnershi# as Kthe relation between

#ersons who ha!e agreed to share the #rofits of a bsiness carried on by all or any of them

acting for all

b7 When two or more #ersons (oin together to carry on a bsiness, they form a #artnershi#

firm.

c7 Acconts may be o#ened in the of #artnershi# #ro!idedN

‰ %n the case of a #artnershi# carrying of banking bsiness, the nmber of #artners

does not e$ceed +? and

‰ %n the case of any other #artnershi# carrying on bsiness with the ob(ect of making

gain the member of #artners does not e$ceed 1?.

Note & The nmber of #ersons forming a #artnershi# shold be com#ted as nder

+7 where the #artnershi# incldes one or more firms among its members, the #artners

constitting the firm shold be added # indi!idally as members of the

#artnershi#.

17 Where a #artnershi# incldes a limited com#any the com#any is to be treated as

one member.

27 Where the #artnershi# incldes a ind ndi!ided Family, the nmber




%$O 'AN

of adlt co#arceners of the family will be indi!idally added # to ascertain the

strength of #artnershi#.

d7 5ower of an indi!idal #artner to bind #artnershi# firm between the firm and its

#artners there is an im#lied agency, each #artner being an agent of the firm for the

#r#oses of the #artnershi# bsiness. Each #artner can therefore bind the firm and his

fellow #artner or #artners by all acts done in the sal corse of their bsiness. All

#artners are not liable on contracts entered into by another #artner of the firm otside the

sco#e of the bsiness of the firm. nless dly athorised by all the #artners in writing no

#artner has #ower to do the following.

+7 9bmit dis#tes relating to the firm to arbitration

17 O#en a banking accont on behalf of the firm in his own name.

27 0om#romise or gi!e # any claim by the firm.

37 Withdraw a sit filed by the firm.

87 Admit any liability in a sit or #roceeding against the firm.

:7 Ac'ire or transfer immo!able #ro#erty on behalf of the firm.

e7 The im#lied #ower to bind the firm is howe!er not affected by any secret arrangement

between the #artners and any #arty who enters into contract made by a #artner in the

sal corse, will be entitled to enforce it against the firm, notwithstanding any limitation

of athority, #ro!ided he was ignorant of sch limitation. E!ery #artner in a trading firm

has an im#lied #ower to bind his co&#artners by the drawing and endorsing of che'es,

drawing, acce#ting and endorsing of bills of e$change and making and endorsing of

#romissory notes. e has also an im#lied #ower to borrow money on behalf of his firm

and sell or #ledge any of stock in trade. owe!er, sch im#lied #ower cannot be inferred

where the Deed of 5artnershi# is e$#licit on the #owers of the #artners. %t is necessary

that signatres of all the #artners are taken on any docment charging immo!able

#ro#erty of the #artnershi# as a co!er for a loan or o!erdraft gi!en in the firm. "t, in the

non trading firm a #artner has no sch #ower nless his acts are athorised by his co&

#artners.

f7 A #artner is entitled to o#en a banking accont for the firm)s bsiness #ro!ided he o#ens

it in the firm)s name bt it is established banking #ractice to obtain the athority of all the

#artners. Any one #artner has #ower to contermand the #ayment of che'e drawn by

another. The death, retirement of bankr#tcy of a #artner ordinarily #ts an end to the

#artnershi# and as




%$O 'AN

sch the athority of any one #artner as the agent of the firm is re!oked. "t the rights

and obligations of the sr!i!ing or remaining #artners contine for the #r#ose of

winding # the bsiness. They can therefore deal with the accont for winding # the firm

and cold conse'ently confirm any che'es otstanding at the time of death, retirement

or bankr#tcy of one of the #artners.

g7 All #artners shold (oin to athorise an otside #erson to o#erate on the firm)s accont

and in sch cases a mandate to o#erate acconts signed by the #artners is to be obtained.

h7 A #artner has no athority to #ay the firm)s che'es into #ri!ate accont where a che'e,

e!en an o#en bearer che'e, drawn in fa!or of a firm is soght to be credited to the #artner)s #ri!ate accont. "ank shold make #ro#er in'iries from other #artners since

the bank wold be considered negligent if it did not make sch en'iries in what

a##arently a##ear to be irreglar.

i7 %n the case of a legal mortgage, all #artners mst sign, for the #artner has no im#lied

#ower to bind his co&#artners by e$ecting a deed in the name of the firm, nless he is

s#ecifically athorised to do so, in which case the athority itself wold ha!e to be by a

deed.

E@e+ut,on o Guarantee 3y a F,r/ &

Where a firm signs (ointly with another for the sole benefit of the latter, it wold be necessary to ha!e

the athority of all #artners, becase otherwise it might be held that the garanteeing of loan was not

the ordinary bsiness of the firm and therefore the #artner was not com#etent to bind the firm.

D,ssolut,on o a F,r/ &

a7 nless there is an agreement to the contrary, a #artnershi# firm is dissol!ed on the death,

insanity or insol!ency of a #artner. %n case of sch an agreement, the firm will contine e!en in

the contingency mentioned earlier, as insanity by itself does not dissol!e the firm bt a #artner

or near relati!e of the insane #artner can file a #etition in cort for dissoltion of the firm.

b7 When a #artnershi# a dissol!ed by death, retirement, insanity or bankr#tcy the credit balance in

the firm)s accont !ests in the remaining #artners, who can gi!e the bankers a !alid discharge

for the balance otstanding. They can howe!er form a new #artnershi# and o#en a fresh accont.




%$O 'AN

c7 %f the accont is showing a debit balance at the time of death, insanity, retirement or bankr#tcy

of a #artner, the o#eration of firm)s accont shold be sto##ed to #reser!e the bank)s right

against the estate of the #artner who has died, retired, became insane or bankr#t. %f this is not

done the 0layton)s case will o#erate.

$laytons $ase & Its ,/ortan+e

The im#ortant old case has left two lessons

+7 Where a debtor kee#s two or more acconts with a creditor and #ays sch a creditor a sm of money in

redction, the debtor has the right to allocate or a##ro#riate his #ayment to sch accont as he may

choose. %f the debtor does not e$ercise this right of a##ro#riation, the creditor is free to do.

17 The rle in 0layton)s case is of great im#ortance to bankers. The rle is as follows

K%n a rnning accont #ayments in are #resmed to be a##ro#riated to #ayments ot

in the order in which the items occr

%n a credit accont therefore, credits are #aid in before debits are #aid and the money #aid into the

bank is regarded as being a!ailable to meet the debits in date order. %n an o!erdrawn accont the

credits #aid in are similarly allocated towards re#ayment of the debts and therefore in redction of the

o!erdraft. This redction is often concealed by the #ayment of fresh debits. The a!oid the o#eration of

the rle, an o!erdrawn accont mst be rled off on notice of certain e!ents 4notice of a second

mortgage, notice of death of a #artners, e$#iry of notice of termination of a garantee7 to #rotect the

bank)s #osition. A new accont mst be o#ened to contine the cstomer)s bsiness and will normally

be maintained in credit. The o!erdrawn balance of the old accont is left as it stands and mst not be

taken into accont in the working of the new accont. %f the o!erdrawn accont is not broken in this

way as the rnning accont contines to o#erate, credits as they are #aid in are deemed to re#ay the old

o!erdraft while fresh debits, as they are #aid gradally bild # a new o!erdraft which is not secred

or in res#ect of which there is no claim against a #erson or his estate.

Reg,strat,on o a ,r/ &

Registration, thogh not com#lsory is ad!isable. A firm which is not registered cannot enforce its

claims against third #arties on the 0i!il 0orts and any #artner of the firm cannot enforce his claims

against third #arties or his fellow #artners. Where a firm is not registered, the Act does not make any

agreement between the #artners or any transaction between the #artners and third #arties !oid bt it

only denies the right of sit. The Act howe!er does not affects the rights of a third #arty to se the firm

on any contract e!en thogh the firm is nregistered.




%$O 'AN

",nor a-/,tte- to t*e 3ene,ts o Partners*, &

a7 *inors ha!e no contractal ca#acity. "t a minor can be a##ointed as an attorney of a #erson. A

minor cannot be a #artner of a firm bt can be admitted to the benefits of #artnershi#, bt for

debits of the firm, only his share in the firm is liable and the minor cannot be #ersonally held

liable nor can his other #ro#erty, if any, be attached for debts of the firm.

b7 The date of birth of the minor #artner shold be noted in the #artnershi# letter and the accont

o#ening form shold be recorded in the Reg,ster o Date o ',rt* of minors. As soon as the

minor attains the age of ma(ority, it is essential, that a fresh #artnershi# letter is obtained as he

becomes fll fledged #artner flly liable for the acts of the firm like other #artners. A minor shall

gi!e notice within si$ months after attaining the age of ma(ority as to his election to be in the

#artnershi#.

Do+u/ents to 3e taBen &

a7 Accont O#ening Form. The indemnity letter for collection of bills che'es etc. ha!e been

incor#orated in the accont o#ening form itself.

b7 The 5artnershi# Deed in original for ins#ection and registration in the books of the of the branch

4in the 5ower of Attorney Register7 and retaining a #ro#erly

athenticated co#y of it.

OR

When there is no written 5artnershi# Deed and when the accont is to rn in credit only and the

#artners are not willing to register their 5artnershi# Deed with "ank, 5artnershi# Better 4A&87

signed by all the #artners of the firm.

c7 A certified co#y of the 0ertificate of Registration issed by the Registrar of Firms, if the firm is

registered nder the %ndian 5artnershi# Act. 4%n case the firm is not registered nder the said Act,

the fact is re'ired to be confirmed by the #artners in a declaration in the Accont O#ening

Form7.

%f a certified co#y is not a!ailable, the 0ertificate of Registration shold be called for in original

for ins#ection and retrned and one athenticated co#y thereof retained with the "ank.

Note & The #r#ose of calling for the certificate of Registration or its certified co#y is to check

# and ensre that the Accont O#ening Form is signed by all the #artners of the firm.

E@e+ut,on o Do+u/ents &

+7 Accont O#ening Form shold be signed by all #artners in their #ersonal names as shown nder ;




%$O 'AN

D. 9. A9RAH

5. D. A9RAH

*. D. A9RAH

45artners of *ohan Trading 0om#any7

All ctting of ina##licable words Jregistered@not registered) and Jwritten@!erbal) on the face of

accont o#ening form shold be athenticated by obtaining signatres of all #artners on the

margin side.

Note & Accont O#ening Form may also be considered to ha!e been #ro#erly e$ected, if signed

in the following form #ro!ided the docmentation record of the accont flfills one or

more of the ndernoted conditions ;

For *ohan Trading 0o.

ere one or more #artners may sign

5artners

$on-,t,ons &

a7 The #artnershi# is a written one and the 5artnershi# Deed is registered in the books of the bank

and frther, there is nothing in the Deed which restricts the #ower of one or more #artners to

o#en, o#erate or o!erdraw a banking accont in

the name of the firm.

OR

b7 The #artnershi# deed s#ecifically restricts to one or more #artners the athority

for the o#ening and condcting of a banking accont and they ha!e signed it and a certified co#y

of the deed is on record with the bank and forms the basis of the o#ening of the accont.

OR

c7 The #artnershi# Better 4A&87 has been signed by all the #artners of the firm and forms the basis

of the accont.

17 The %ndemnity forming a #art of Accont O#ening Form shold be signed by all the #artners in their

#ersonal ca#acity.

27 The s#ecimen signatre of athorised #artner4s7 on the of Accont O#ening Form and on s#ecimen

signatre card and %ndemnity Better for collection of bills and che'es etc. 4"&3?7 shold be in the

manner as shown below

For *ohan Trading 0o.

9d@& ansra(

5artner




%$O 'AN

Note & 9ometimes, the #artners of firms are ind ndi!ided Families. 9##ose *@s. Ram 6 9ons

4F7 is a #artner of *@s Gamal 6 0o., a #artnershi# concern. %f branch has to o#en accont

in the name of *@s. Gamal 6 0o. to be o#erated by #artner Ram 6 9ons 4F7 will be as

nder

For *@s. Gamal 6 0om#any

For *@s Ram 6 9ons 4F7

RA* BAB

Garta

5artner

37 5artnershi# letter 4A&87 shold be signed by all the #artners in their indi!idal ca#acity.

87 /ernaclar 9ignatre %ndemnity Better 4Form D&327 where!er necessary, shold be obtained, it shold

be signed by all the #artners of the firm and not only by the #artner4s7 who are to o#erate on the

accont of the firm by signing in !ernaclar.

:7 %f there are any minors who ha!e been admitted to the benefits of #artnershi#, their date of birth,

shold be obtained and diarised. When any one of them attains ma(ority, it shold be fond ot

whether he wishes to contine as #artner or not and branch shold act accordingly.

=7 Any athority #ermitting o#eration on a #artnershi# accont by a #erson other than a #artner shold be

signed by all #artner. A notice from one #artner to cancel athority as to signing che'es is sfficient

for the branch to act #on.

VI) L,/,te- $o/any A++ounts &

a7 Bimited com#anies are of two ty#es namely 5blic Bimited and 5ri!ate Bimited.

b7 Accont O#ening Form 4D&+7, %ndemnity letter for collection of bills and che'es etc.

4%ndemnity letter has been incor#orated in the AOF itself7 and s#ecimen signatre card dly

signed by athorised o#erators in the following form shold be obtained.

For *@s *ohatta Btd.

9. R. *ahatta

5resident@0hairman@9ecretary@Director etc.

c7 /ernaclar 9ignatre %ndemnity Better, where!er necessary shold be obtained

Note & Where accont of Bimited com#any is to be o#erated by #erson4s7 signing in !ernaclar, it is

necessary to obtain in the resoltion athorising the o#ening and o#eration of accont,

s#ecific athority in fa!or of the #erson4s7 concerned to




%$O 'AN

o#erate on the accont by signing in !ernaclar. %n doing so, it shold be seen that the

im#ortant #ro!isions of or %ndemnity Better 4D&327 are incor#orated in the resoltion so as

to gi!e ade'ate #rotection tot he bank for allowing sch o#erations on the accont.

d7 The following other docments shold be obtained

4i7 0ertificate of %ncor#oration

This certificate is issed by the <o!ernment only after they are satisfied that all the

necessary re'irements nder 0om#any Baw are flfilled by the newly formed Bimited

0om#any. The original co#y of this certificate shold be retrned after ins#ection and a

tre co#y thereof dly athenticated by officer concerned ke#t on branch files.

4ii7 *emorandm and Articles of Association

*emorandm of Association is the most im#ortant docments. %t ser!es as the charter on

which the com#any e$ists and within which it o#erates. The com#any cannot ndertake

any o#erations which are not mentioned in the memorandm of Association.

Articles of Association is another im#ortant docments which contains reglations for the

management of the internal affairs of the com#any. Ths, if the bank wants to find ot towhat e$tent the com#any can condct its transactions within the sco#e of its charter, it can

refer to *emorandm of Association. "esides, if the bank wants to find ot details

regarding the reglations for the internal management of a com#any it refer to Articles of

Association.

A co#y of the *emorandm and Articles of Association broght # to date and dly

certified, as Ktre and # to date co#y by com#etent Officer of the com#any shold be

ke#t at branch. 5aragra#hs affecting the bank)s relation with the com#any shold be

cons#icosly marked and rele!ant #ortions noted on the ledger head of gidance. The

0om#any shold be re'ested to kee# the branch informed of any sbse'ent

amendments to the *emorandm and Articles of Association.

Note & Articles of Association of a com#any will contain a #ro!ision as to who is com#etent officer

of the com#any to certify co#y of *emorandm and Articles of Association as tre and

# to date. These docments shold be got certified by sch athorised Officials of the

com#any.




%$O 'AN

4iii7 0ertificate of Registration

According to 0om#anies Act, all limited com#anies mst be registered with the registrar

of Hoint 9tock 0om#anies. Once the 0ertificate of Registration is issed to the com#any,

it is entitled to commence bsiness.

Original of 0ertificate of Registration shold be retrned after ins#ection bt a tre co#y

thereof dly athenticated by Officer concerned shold be ke#t in branch files.

Note & %n case of 5ri!ate Bimited 0om#anies, this 0ertificate is not re'ired.

4i!7 "oard Resoltion

This is a kind of statement gi!en by "oard of Directors resol!ing that accont be o#ened

with the named bank and stating as to who will o#en and o#erate on the accont and do

other acts sch as dealing with secrities de#osited with bank etc.

This resoltion shold be #assed on the lines sggested on the Accont O#ening Form. A

co#y of resoltion certified to be Ktre co#y by 0hairman and another com#etent official

of the com#any shold be ke#t on branch files and o#eration on the accont allowed in

terms of this Resoltion.

Note & The resoltion itself will contain a clase as to which officers are com#etent to certify co#y

of resoltion as correct and tre co#y. "ranches in this connection are referred to clase

4f7 in the #roforma of resoltion on the Accont O#ening Form.

4!7 A certified list of the 5resent Directors shold be obtained. The com#any shold be

re'ested to notify changes, if any, from time to time and also to s##ly #blished

balance sheets.

Note & The signatre of the 0hairman of the com#any on the certified co#y of the resoltion of its

"oard of Directors athorising the bank to o#en the accont and or of its

Director4s7@9ecretary or any other athorised Officer 4s7 of the com#any in the AccontO#ening Form or other docments e$ected for or on behalf of the com#any or a##earing

in docments sent by it for e$amination or filling with the bank shold, as far as #ossible,

be known to the branch and in any case, mst be !erified to the satisfaction of the

*anager before o#ening the accont of or ha!ing any dealing with the com#any.

Se+,al Pre+aut,ons ,n +ase o L,/,te- $o/any A++ounts &

a7 %nstances ha!e occrred where nscr#los #ersons ha!e scceeded in o#ening acconts in the names

of com#anies with s#rios co#ies of the *emorandm and*AAB OF %9TR0T%O9 – VOL. 4 (DEPOSITS) PART-I 26



%$O 'AN

Articles of Association and 0ertificates of %ncor#oration@0ommencement of "siness etc. and

encashing che'es throgh sch acconts drawn in fa!or of or #ayable to a real com#any with

identical or !ery similar names.

b7 While agreeing to o#en acconts of limited com#anies, the branches shold take following

#recations.

‰ %t shold be ensred that the directors of the com#any are well known and res#ectable #eo#le

and the chairman and@or one or more of the directors of the com#any are #ersonally known to

*anager or to a res#onsible officer of the branch.

‰ %n the ordinary corse of bsiness, the rle shold be that no accont of a limited com#any is

o#ened in the books of a branch whose directors are not known to the *anager or to any of its

other res#onsible officers. Where, in s#ecial cases, sch an accont is o#ened after #ro#er introdction by a res#ectable and creditworthy constitent, immediate ste#s shold be taken to

make inde#endent en'iries regarding the com#any and its directors. And #ending the

com#letion of sch en'iries no che'es shold be acce#ted for collection in the accont of the

com#any or withdrawals allowed against them.

‰ E$ce#t in the case of old established or well&known com#anies or new com#anies whose

directors are well&know in bsiness circles, or are known to the *anager, a check # of the

records of the com#any in the office of the Registrar of Hoint 9tock 0om#anies both with regard

to the names of its directors and to !erify the correctness of the docments lodged by the

com#any for the o#ening of their accont with the branch shold be made.

‰ %n case the Registered Office of the com#any is sitated in a centre other than

the one where the branch is established, the check # as referred to abo!e may be

made throgh a sister branch.

A+t,ng as 'anBers to Ne6ly Floate- $o/an,es &

a7 A branch shold not agree to act as bankers to a com#any to be floated withot the #rior a##ro!al of

ead Office. Whene!er a branch is a##roached for inclding or bank)s name in the #ros#ects of the

com#any as their banker, a rgent reference shold be made to ead Office, gi!ing details regarding

its worth and credit worthiness of each director. While ad!ising its a##ro!al ead Office will also

ad!ise the charges to be reco!ered from the com#any in this regard.

b7 Where the com#any desires that all branches of or bank shold handle a##lications of its shares,

ead Office shold be informed in time to enable it to isse necessary circlar. 5recise information

shold be frnished with regard to dates on which the list o#ens and




%$O 'AN

closes as well as branch to whom #roceeds of a##lication money shold be remitted. A##lication

forms for share shold be s##lied to the branches directly.

c7 After obtaining #ermission from ead Office for o#ening accont in the name of a newly floated

com#any, branch shold o#en the accont in the name of the com#any and all amonts recei!ed as

a##lication money shold be credited to this accont. O#eration on this accont shold not be allowed

nless the com#any obtains and #rodces the certification on incor#oration.

d7 Allotment money shold not be recei!ed nless s#ecial arrangements are made for the #r#ose.

VII. A++ounts o $lu3s5 So+,et,es5 Asso+,at,ons5 S+*ools et+.

‰ These bodies whether registered nder the 9ocieties Registration Act or not are go!erned by

their *emorandm and Articles of Association or 0onstittion or "ye Baws. %t shold be noted

that these bodies, if not registered, ha!e no legal entity.

‰ The following docments shold be obtained

a7 Accont O#ening Form 4D&+7 shold be signed by #erson 4s7 athorised to o#en and

o#erate on the accont in their ca#acity as officer bearer sch as

For *ohan 9#orts 0lb

9ecretary, 0hairman

The declaration J") of the accont o#ening form shold be signed by the 0hairman@

5resident and the 9ecretary of the 9ociety@ 0lb etc. i.e. by the office bearers, who ha!e

signed the resoltion athorizing the o#ening of the accont. The blanks a##earing in the

#aragra#h shold be dly filled in by mentioning the name4s7 of the #erson4s7 athorized

to o#en the accont.

b7 %ndemnity Better for collection of bills, che'es etc. has been incor#orated in the AOF.

c7 /ernaclar signatre %ndemnity Better 4D&327, where!er necessary, shold be obtained.

Note & Where accont of a clb, association, society etc. is to be o#erated by #erson4s7 signing

in !ernaclar, it is necessary to obtain the resoltion athorising the o#ening and

o#eration of accont, s#ecific athority in fa!or of the #erson4s7 concerned to o#erate

on the accont by signing in !ernaclar. %n doing so, it shold be seen that the

im#ortant #ro!isions of %ndemnity Better 4D&327 are incor#orated in the resoltion so

as to




%$O 'AN

gi!e ade'ate #rotection to the bank for allowing sch o#erations on the accont.

d7 A co#y of the constittion and "ye&Baws certified to be tre and latest by the 9ecretary

and@or other athorised #ersons shold be obtained.

e7 A co#y of the 0ertificate of Registration with the original shold be obtained. Original

may be retrned after ins#ection and co#y dly athenticated by Officer concerned ke#t

on branch files.

f7 A co#y of the resoltion certified as tre co#y by the 0hairman and conter&signed by the

9ecretary athorizing the o#ening and o#eration of the accont and s#ecifying the mode

of o#eration shold be allowed in terms of this resoltion.

g7 %n case of co&o#erati!e societies, a##ro!al of Registrar of co&o#erati!e 9ocieties to o#en

the accont with the bank, if re'ired by 0o&o#erati!e 9ocieties Act of that state, shold

be obtained. 9ometimes the Registrar, while gi!ing sch #ermission may im#ose

conditions on sch accont, for instance, the Registrar may allow sch acconts #to a

certain ma$imm limit or for a limited #eriod. 9ch conditions shold be careflly noted

by branch and any !iolation there of by 9ociety shold not be #ermitted.

h7 Acconts of Fnds which ha!e no reglar rles drawn # and are held only tem#orarily

may be allowed to be o#ened in indi!idal name4s7 of reliable #erson4s7 of standing and

stats with the additional words sch as K0yclone Fnd, K9#orts Fnd, K*emorial

Fnd etc. "efore allowing o#ening of sch acconts, *anager mst be thoroghly

satisfied with the bonafides of the #arty and the circmstances nder which sch an

accont is o#ened.

VIII. !rust A++ounts

a7 %n case of Trst Accont, sms de#osited with the bank for credit of an accont are, in the

absence of any notice or circmstance #tting the bank on notice, #resmed to be the #ro#erty of

the de#ositor and any claim of any other #arty, sbse'ently, to right, title and interest in the

said de#osit shall not be recognised by the bank, and sch a claimant cold only look to the

de#ositor for redress.

%n other words, where there is no sch notice, the mere fact that, nknown to the bankers,

moneys are held by the de#ositor in a fidciary ca#acity in no way affects the banker)s right to

treat them as the absolte #ro#erty of the de#ositor. "t if the banker has sch notice, either

from information or otherwise, #rior to acce#tance of the de#osit or after that the accont is

affected with a Trst, e$#ress or im#lied,




%$O 'AN

and that the cstomer is in #ossession, or has control, of the money in a fidciary ca#acity, he

mst regard the money and accont strictly in that light and refse to acce#t the de#osit or

contine it e$ce#t strictly nder its tre natre.

Therefore, de diligence and care shold be taken while o#ening crrent accont in the name of

a Trst.

b7 <reat care is re'ired in condcting trst acconts as in the e!ent of breach of trst by the

trstees, the bank may render itself liable.

c7 %n the absence of e$#ress #ro!isions in the Trst Deed to the contrary.

4!i7 All the trstees mst sign che'es in the accont.

4!ii7 Trstees cannot delegate their athority to anyone or more of themsel!es or to third

#arties.

4!iii7 Trstees ha!e no im#lied #ower to borrow for the #r#ose of trst.

d7 The following docments shold be obtained

; Accont O#ening Form 4D&+7 dly signed by all the trstees.

4%ndemnity Better for collection of bills and che'es etc. has been incor#orated in the

Accont O#ening Form.7

; /ernaclar Bangage %ndemnity Better 4D&327, where!er necessary, dly signed by all the

Trstees.

Note & Where accont of a trst is to be o#erated by #erson4s7 signing in !ernaclar, it is necessary

to obtain in the resoltion athorising the o#ening and o#eration of acconts, s#ecific

athority in fa!or of the #erson4s7 concerned to o#erate on the acconts by signing in

!ernaclar. %n doing so, it shold be seen that the im#ortant #ro!isions of or %ndemnity

Better 4D&327 are incor&#orated in the resoltion so as to gi!e ade'ate #rotection to the

bank for allowing sch o#eration on the accont.

; Trst Deed in original. A certified tre co#y of the Deed shold be held in branch records and

original retrned after ins#ection.

; A resoltion signed by all the trstees for o#ening and o#eration of the accont.

Note & O#eration in the accont is to be allowed strictly in terms of the Trst Deed. nless

o#eration on the accont by a lesser nmber of trstee is athorised s#ecifically in the

Trst Deed all the trstees shold be re'ired to o#erate #on the accont (ointly.




%$O 'AN

I9. E@e+utors an- A-/,n,strators A++ounts &

a7 An E$ector is the #erson a##ointed in a will by the testator to administer his estate according to

the instrctions of his will. The will has to be #robated in the cort. The cort will isse nder

its seal and signatre of com#etent official Pro3ate Letter which certifies that the original will

was dly #ro!ed on a certain date and to this is attached a certified co#y of the will of which

#robate has been granted.

b7 Where a deceased has left no will or an e$ector is not named in the will, the cort may a##oint

an Administrator to deal with the estate of deceased and to wind # his affairs.

c7 The dties of both are #ractically the same e$ce#t that an Administrator settles the deceased)s

affairs according to law while the E$ector settles them according to the terms of the will. The

will or letter of administration therefore com#rise the athority of the re#resentati!es of the

deceased to deal with his estate and the branch shold be thoroghly ac'ainted with the

contents of the rele!ant docments before it can o#en an accont for them.

d7 Accont O#ening Form 4D&+7, 9#ecimen 9ignatre 0ard and %ndemnity Better for collection of

bills and che'es etc. shold be signed by E$ector@Administrator.

e7 %f there are more than one E$ector@Administrator, accont shold be o#ened in the (oint names

of all the E$ectors@Administrators as follows

A and " E$ectors to the Estate of 0 Deceased.

OR

A and " Administrators to the Estate of 0 deceased.

All of them shold be re'ired to sign Accont O#ening Form and other docments.

f7 Original 5robate Order and Will@Better of Administration shold be called for #ersal and be

retrned and a certified co#y thereof shold be ke#t on branch records. The date of the 5robate

or Better of Administration and the name of the cort granting it and a brief note of the #owersof the E$ectors@Administrators shold be entered in the ledger folio.

Note & "ranches shold be !ery carefl in o#ening acconts in the name of E$ectors or

Administrators and shold thoroghly ac'aint themsel!es with the docments

a##ointing them and shold ha!e no dealing with the estate, ntil the Official 5robate

or Better of Administration has been #rodced.

g7 Begally, any E$ector or Administrator can deal with the fnds of the estate on behalf of the

others, nless there is an arrangement to the contrary, bt it is always better,




%$O 'AN

when o#ening an accont, to get a letter of athority signed by all the E$ectors@ Administrators

embodying #recise instrctions as to how che'es and bills etc. are to be signed and endorsed. %f

sch a letter of athority distinctly #ro!ides that che'es are to be signed by two or more of se!eral e$ectors@administrators, the signatre of one shold not be acce#ted and shold the

letter of athority be sbse'ently re!oked by one of the #arties, che'es mst be signed by all

of them thereafter, nless they (ointly athorise otherwise. otwithstanding any arrangement to

the contrary, if an E$ector or Administrator notifies the bank that che'es are to be signed by

all the #arties, the bank mst carry ot sch instrctions.

Note & Althogh E$ectors@Administrators may delegate their athority to one of them, they

cannot em#ower an otside #erson to o#erate on the accont and sch athority mst

not be acce#ted.

1 . SPE$IAL PRE$A%!ION IN OPENING A$$O%N! OF SOLE PROPRIE!AR# FIR"S

AND %NREGIS!ERED PAR!NERSHIP FIR"S

+?.+ %n !iew of the fact that registration of firms is not com#lsory nder %ndian law, !ery few firms of

either of the abo!e two ty#es get themsel!es registered. %n o#ening accont of sch firms. branches are

not able, on the reference to the records of the Registrar of Firms, to athenticate or get !erification of

the constittion of the firms and of the declaration of the #ersons claiming themsel!es to be the sole

#ro#rietors or #artners of the firm. The branches therefore ha!e in a !ery large measre to de#end #on

the nathenticated declaration of the #ersons claiming to be their sole #ro#rietors or #artners.

+?.1 The risk that may be in!ol!ed in o#ening acconts of firms in this manner and in handling their

collection bsiness cannot be o!erstated. Acconts of bogs firms may be o#ened or

false declarations may be made by the so&called sole #ro#rietors or #artners abot the constittion of

the firms with the #r#ose of getting collected throgh their acconts che'es and other negotiable

instrments belonging to genine firms with similar names bt to which the firms in 'estion ha!e a

defecti!e title or no title at all. "ranches ths rn the risk of being charged for con!ersion by the tre

owners of the negotiable instrments handled and collected and may be e!en denied the stattory #rotection a!ailable to banks in the matter of collection of crossed che'es on behalf of their

cstomers nder section +2+ of the egotiable %nstrments Act, +--+.

+?.2 %n order that branches may be able to resist charges of con!ersion and may sccessflly lay claim to

the stattory #rotection, referred to abo!e, they shold take the following ste#s and #recations in the

o#ening of acconts, #articlarly acconts of the firms of the ty#e nder reference.

a7 An accont of the firm shold be o#ened only if introdced by a #arty of high




%$O 'AN

bsiness integrity, #ossessed of good means and who is flly known to the branch. %t mst also

be ensred that the #erson introdcing the accont is in no way directly or indirectly connected

with the firm or the #artners of the firm.

b7 9imltaneosly with the o#ening of the accont of a firm, confidential credit checking shold be

made from the market and other sorces to !erify the correctness of the constittion of the firm

as declared in the Accont O#ening Form. The reslt of sch credit checking shold be recorded

in the folder of the accont and other rele!ant records of the bank.

c7 Or foreign branches, if registration of firms is com#lsory nder the local laws

of the #laces at which they are established, shold make a search in the office

of the Registrar of Firms to !erify the correctness of the constittion of thefirms, as declared by their #artners or as may be gi!en in their Accont O#ening Forms.

1 1 . S!A!E"EN! OF A$$O%N!=PASS 'OO

++.+ 9tatements of acconts shold be s##lied to crrent accont holders once a month or at shorter

inter!als if they so desire. They shold be sent by #ost or throgh bank messenger nless constitents

call at the bank #ersonally to recei!e them.

++.1 While writing statements of acconts, the following #oints shold be noted

a7 They shold be written reglarly. The work shold not be allowed to fall in arrears. Whene!er

the work of the ledger is not hea!y and the ledger kee#er has sometime to s#are, he shold

de!ote his time in #re#aring statements of acconts.

b7 They shold be written accrately, legibly and neatly. "rief and intelligible #articlars of

transactions mst be recorded therein.

c7 0are shold be taken to see that no entry is missing.

d7 9tatement shold be ended with closing debit and credit smmations and a closing balance. %f

statement rns into nmber of #ages each #age shold contain debit and credit smmations and

a balance. The closing debit and credit smmations and smmations at the end of each #age

shold be done inde#endently and !erified with closing balance and tallied with smmations in

the ledger. This will #re!ent #ossible omission of any entry throgh o!ersight or error in

co#ying the entries.

e7 The final balance shown in statement shold be written in words also.

++.2 The statement shold be initialed by the Bedger Gee#er in token of his ha!ing correctly co#ied the

entries from the ledger.

Note & *anager@Asst. *anager shold ensre that statement of acconts are in fact




%$O 'AN

initialed by the ledger kee#ers before these are deli!ered to accont holders, For this

#r#ose, a test check of some of the statement of acconts, may be made at random basis

from time to time by Officer concerned *anager@Asst. *anager or by any other officer

athorised to do so.

++.3 The ledger kee#er shold affi$ on ledger folio a rbber stam# K9tatement sent on

Against the last entry # to which statement has been sent and initial it.

++.8 The statement of accont shold thereafter be entered in K9tatement of Accont Register and

deli!ered to cstomer in #erson or sent to des#atcher against his initials in Register.

++.: %n case of big acconts ha!ing large nmber of daily o#erations and who re'ired the statements of

their acconts to be sent to them either daily or biweekly, it wold be ad!antageos, if the branches

maintain ledgers with d#licate folios where one #age of the ledger may ser!e as statement of accont.

The folios of sch ledgers will be in d#licate. The first #age #rinted on the ledger #a#er will remain

fastened to the bond ledger and the d#licate #rinted on a thin ordinary #a#er will ha!e #erforation.

After a #age is com#leted that d#licate #erforated sheet shold be torn from the ledger and sent to the

accont holder, after the entries in the statement ha!e been initialed by the Bedger Gee#er as

mentioned abo!e. %t shold be noted that sch ledgers shold be sed for kee#ing highly o#erati!e

acconts where the nmber of o#erations are not less than +8 to 1? #er day. One side of the ledger

folio as also of the statement of accont will remain blank.

Note & 9ch ledgers shold be written with a ball #oint #en and good carbon shold always be sed for

a clear and legible im#ression on the co#y meant to be sent to the accont holders as

statements of acconts. Faint and illegible im#ression will only annoy the accont holder and

sending of sch statements of accont will, in a large measre, defeat the #r#ose of this

#rocedre.

++.= At the re'est of accont holder, #ass book may be issed in lie of statement of accont and this

fact shold be noted in the ledger. For instrctions regarding handling of #ass books, refer 0ha#ter o.

%% K9a!ings "ank De#osits.

1 2 . !RANSFER OF A$$O%N!S

+1.+ "onafide acconts may be transferred from one branch to another free of charge. "t if an accont

was recently o#ened with the deliberate ob(ect to transfer fnds from one #lace to another free of

charge, a demand for the transfer of the accont shold be com#lied with on reasonable charge being

#aid by the #arty.




%$O 'AN

+1.1 %nstrctions of a cstomer for transfer of his accont to another branch mst be carried ot

immediately on recei#t of, and in accordance with, the instrctions. %t mst be ensred that along with

the balance of the accont, the relati!e Accont O#ening Form, 9tanding %nstrctions etc. are alsosimltaneosly sent, nder ad!ice, withot fail, to the cstomer, care being taken to ensre that the

ad!ise is sent to him both at his last and #resent addresses. Failre to carry ot the work relating to

transfer of an accont #rom#tly and in entirety cases great incon!enience to accont holder and

affects bank)s image ad!ersely.

12.. !ranseror 'ran+*

The following #rocedre shold be ado#ted by transferor branch.

a7 A written re'est shold be obtained from the accont holder and he shold be re'ested to

s##ly the following

‰ A new Accont O#ening Form #ro#erly filled in for the files of the new branch.

‰ 9#ecimen 9ignatre 0ard bearing signatre of accont holder4s7

‰ 5ass "ook of the accont, if issed.

‰ nsed che'e book

Note & The nsed che'e book recei!ed from the accont holder shold be held at the branch. A new

che'e book shold be issed to the accont holder by the branch to which the accont istransferred.

b7 9ignatre of the accont holder on letter of re'est for transferring the accont shold be

careflly !erified by Officer concerned.

c7 Officer concerned shold see that #articlars in new Accont O#ening Form ha!e been #ro#erly

filed in. e shold !erify and athenticate the signatres of accont holder4s7 on the Accont

O#ening Form across a rbber stam# bearing words K0onfirmed

d7 The following entries shold be #assedDebit 0rrent De#osit Accont

0redit ead Office Accont

e7 %n the accont folio in 0rrent Accont ledger the last entry shold be made in the following

form

KTo amont transferred to branch

f7 The accont shold be smmated and closed and smmation noted in the

s#ecial folio reser!ed at the end of the ledger. The following rbber stam# shold




%$O 'AN

be im#ressed at the end nder signatres of Bedger Gee#er and Officer.

Accont closed by Transfer to

"ranch on nsed che'e lea!es Retrned o.

to o. Entered into Register Folio o.

Asstt. *anager Bedger Gee#er

g7 A note abot transfer of accont shold be made nder signatre of Officer concerned in

(7 Accont O#ened and 0losed Register

k7 Accont O#ening Form

l7 9#ecimen 9ignatre 0ard

The accont o#ening form and s#ecimen signatre card shold be cancelled by drawing red line

across the face of the form and card and writing in red ink in bold letters KAccont closed by

Transfer to "ranch, nder initials of Officer concerned.

9ch accont o#ening forms and s#ecimen signatre cards shold be taken ot and ke#t in a

se#arate file.h7 The #ass book of the accont be made # to date and last entry in it made in the following form

KTo amont transferred to "ranch

Entries in the 5ass "ook shold then be smmated and closed. %n order to a!oid the #ass book

beings sed again and as a #rotection the words KAccont closed by Transfer

to "ranch shold be written or stam#ed in bold letters on the

front and inside co!ers nder initials of Officer concerned.

i7 The nsed che'e lea!es shold be entered in "roken 0he'e "ook Register. The Officer

concerned shold take ot and destroy the re'isition sli# attached to che'e book retrned. The

right hand bottom corner s#ace of che'e lea!es which is sed for signatre #r#oses shold be

cli##ed off with the scissors so that the che'e lea!es cannot be fradlently sed e!en if they

fall into ndesirable hands. The nsed che'e lea!es shold be held in the cstody of the Asst.

*anager till the ne$t ins#ection after which they shold be destroyed and a certificate to that

effect a##ended in the "roken 0he'e "ook Register, nder the (oint signatres of two Officers

in whose #resence the che'e lea!es are destroyed.




%$O 'AN

(7 A credit ad!ice in Form <&3 for the balance amont of accont transferred

shold be #re#ared. The ad!ice shold also contain the following #articlars.

‹ ame of Accont holder

‹ Address of Accont holder at the #lace at which accont is transferred.

k7 On a se#arate sheet, the following #articlars shold be noted

‹ Date when accont was o#ened.

‹ ow it was condcted

‹ The a!erage balance maintained in it.

‹ 9tanding instrctions of the Accont holder, if any, at record with branch.

‹ 0onfidential re#ort on the #arty and if he is an em#loyee or #artner of a firm or com#any, his #osition in the firm or com#any.

l7 %"0 for the amont of balance of the accont shold be #re#ared and sent to

transferee branch along with

‹ Relati!e ad!ice as mentioned in 4(7 abo!e

‹ Relati!e note as mentioned in 4k7 abo!e

‹ Accont O#ening Form

‹ 9#ecimen 9ignatre 0ard.

1 2 . 0 !ranseree 'ran+* &

On recei!ing the %"0 along with re'isite docment, the following #rocedre shold be ado#ted by

the transferee branch

a7 The docments recei!ed along with %"0 shold be careflly scrtinised by officer concerned

and accont shold be o#ened after obtaining athority from *anager@Accontant against his

initials in the Accont O#ening Form.

Note &

+7 Accont O#ening Form shold not be acce#ted if attested by an officer not holding a #ower of

attorney or in rank below that of an Asstt. *anager.

17 %f accont o#ening form and other docments as mentioned abo!e ha!e not

been recei!ed, the accont shold not be o#ened bt the balance of the accont

transferred shold be held in 9ndry 0reditor Accont. The accont holder shold be ad!ised

immediately by means of a letter as #er s#ecimen gi!en below, to send the docment.

K%t gi!es s #leasre to ad!ise that we ha!e recei!ed a sm of Rs. from




%$O 'AN

or branch for o#ening an accont with s in yor name

OR

K%n com#liance with yor instrctions, or "ranch has transferred yor 0rrent

accont to s with a credit balance of Rs. which we are kee#ing in or K9ndry

0reditors accont #ending com#letion of the docmentation records of the o#ening of the accont.

BHwe shall thank yo to #lease retrn to s dly com#leted and signed the enclosed Accont O#ening

Form and the 9#ecimen 9ignatre 0ard.

BHGindly also let s ha!e the 5ass "ook of the accont for being written # to date and the che'e book to

be e$changed for a new one.

5lease note that on recei#t of the Accont o#ening Form and the 9#ecimen 9ignatre 0ard from yo,

we shall send them to or branch, from where yor accont has been transferred for !erification of

yor signatres thereon and it will be only on recei#t of the docments dly athenticated by or said

branch that yor accont will be o#ened in or books and we will consider it in order for yo to start

drawings on it.

Assring yo of or best ser!ices and attention

HHH Delete where not necessary

On their recei#t, Accont O#ening Form and 9#ecimen 9ignatre 0ard shold be sent to the transferor

branch for !erification of signatre on it of the accont holder. The nsed che'e book of the

transferor branch, if recei!ed from the #arty by the transferee branch shold be sent back to the former

for their record. Only on recei#t of Accont O#ening Form and 9#ecimen 9ignatre 0ard with

signatres of accont holder dly !erified by transferor branch, accont shold be o#ened in the books

of transferee branch by re!ersing entry in 9ndry 0reditors Accont.

b7 The following entries shold be #assed by any of re!ersal of %"0.

Debit ead Office Accont

0redit 0rrent De#osit Accont

c7 An entry shold be made in Accont o#ened and 0losed Register and a new serial nmber

shold be gi!en to the accont which shold also be noted in Accont O#ening Form recei!ed

from transferor branch.

d7 %n the 0rrent Accont Bedger, the accont shold be o#ened with first entry as follows

KAccont transferred from "ranch




%$O 'AN

All the other necessary #articlars sch as name and address of accont holder, accont nmber,

standing instrctions, if any, che'e book nmber etc. shold also be noted which shold be

checked and initialled by Officer concerned.

e7 A new 5ass book shold be issed 4in case statement of accont is not being sent7 with first

entry as follows

K"y amont transferred from branch

f7 A new che'e book shold be issed after com#letion of necessary formalities.

g7 The transferee branch shold refer the standing instrctions, if any, to the accont holder and

obtain his confirmation before commencing to act #on them.

+1.8 When a branch recei!es an en'iry from a cstomer regarding the recei#t of his accont on transfer from another branch, it shold take # the matter with the transferor branch by letter@telegram, on

branch accont, in case it has not recei!ed the balance of the accont and@or other related #a#ers e!en

after a reasonable transit time.

1 . %NDESIRA'LE A$$O%N!S

+2.+ Acconts with #etty balance fre'ently rnning below the #rescribed minimm, case a strain ot of

#ro#ortion to the !ale of acconts to the bank. 9ch acconts may

therefore, be closed after gi!ing de notice, to the constitents concerned that nless they maintain at

all times the minimm balance in their acconts commencing from, say a fortnight from the date of notice, their acconts wold be closed withot frther reference to them. On e$#iry of the notice

#eriod, if an accont has not been reglarised, it may be closed and a 5ay Order for the balance sent to

the constitent by registered #ost with a re'est in the relati!e co!ering letter to retrn the nsed

che'es lea!es in his #ossession. %t shold, howe!er, be nderstood that encashment

of 5ay Order shold not be refsed becase the #arty has not yet srrendered

the nsed che'e lea!es to the bank.

Note & *anager shold se their discretion in the matter and in case of constitents, who gi!e other

remnerati!e bsiness or whose connections are for any other reason worth retaining, no

action need be taken abot closing of sch acconts.

+2.1 Another ty#e of ndesirable and often dangeros accont is that of constitents, who isse che'e,

withot fnds in their acconts, to meet them. %t is essential that constitents, who are fre'ently gilty

of sch #ractice shold be warned that a re#etition of sch a condct wold reslt in their acconts

being closed. %f after, say two warnings, they #arty still #ersists in sch ndesirable #ractice, a final

notice may be sent ad!ising that




%$O 'AN

accont will be closed after a certain #eriod, say, fortnight from date of this notice, On e$#iry of notice

#eriod accont shold be closed and a 5ay Order for the balance sent to the constitent by Registered

#ost with a re'est in the co!ering letter to retrn the nsed che'es lea!es in his #ossession.

+2.2 9ome constitents follow the #ractice of issing che'es in antici#ation of realisation of effects sent

by them or who #ay in fnds almost always at the last moment to meet che'es already #resented.

E!en effort shold be made to discorage this nhealthy #ractice.

4For detailed instrction, kindly also refer to 0ha#ter o. C%% KRetrn on 0he'es7

1 0 . $LOSING OF A$$O%N!S

+3.+ Where!er #ossible, a letter shold be taken from the accont holder re'esting the bank to close his

accont. is signatre on the letter shold be !erified.

+3.1 0harges, if any, to be reco!ered shold be debited to the accont.

+3.2 The accont holder shold be asked to draw che'e for the balance amont in the accont which

shold be #aid in the sal manner.

+3.3 The accont holder shold be asked to retrn the nsed che'e lea!es, which on recei#t shold be

entered in "roken 0he'e "ook Register. They shold be dealt with the manner as mentioned in

#aragra#h o. +:.2 4%7.

+3.8 The accont shold be smmated and closed and the following rbber stam# im#ressed at the end

nder the signatres of Bedger Gee#er and Officer concerned.

Accont closed on ..................................................................................

nsed che'es Retrned o. ............................................................

To o. ........................................................................................................

Entered into Bedger Folio o................................................................

Accontant Bedger Gee#er

+3.: The debit and credit smmation shold be noted down on last ledger folio for #r#oses of smmation

balancing.

+3.= A note shold be made in the Accont o#ened and closed Register

+3.- %f the #ass book has been issed in the accont, it shold also be called and made # to date and

closed.




%$O 'AN

%n order to a!oid the #ass book being sed again and as a #rotection, the words KAccont closed

shold be written or stam#ed in bold letters on the front and inside co!ers.

The #ass "ook may be retrned to the #arty if re'ested by him, otherwise it may be held in the old

records of the branch.

+3. The Accont O#ening Form and 9#ecimen 9ignatre 0ard of the #arty shold be cancelled by

drawing red line across the face of the form and card and writing in red ink in bold letters KAccont

0losed nder the initials of Officer concerned. 9ch Forms and 0ards shold thereafter be se#arately

held in a file.

1 . !RANSFER !O INOPERA!IVE A$$O%N!S

0rrent Acconts which are not o#erated #on for two years shold be treated as stale acconts and

transferred to K%no#erati!e "alance Acconts 4For detailed instrctions, #lease refer 0ha#ter on

K%no#erati!e Accont7.

1 7 . IN$IDEN!AL $HARGES=SERVI$E $HARGES IN$L%DING IN!ERES!S

+:.+ Thogh no interest can be #aid on crrent accont credit balance there are few e$ce#tions to it.

%nterest is #ayable at 9a!ings "ank rate on the credit balance of a deceased de#ositor)s accont till

balances are #aid to the legal heirs. The system will also a##ly to sole #ro#rietory firms.

+:.1 The minimm balance re'ired to be maintained in a 0rrent Accont is as stated in #aragra#h -. %f

the minimm balance is not maintained, #enal charges shold be collected as #er e$tant gidelines.

+:.2 9er!ice 0harges are le!ied to co!er incidental e$#enses and labor in!ol!ed in maintaining the

accont.

+:.3 Bedger Folio charges as de is to be recei!ed from the crrent accont holders at the time of each

half&yearly closing of acconts.

1 : . 'ALAN$E $ONFIR"A!ION

+=.+ After e!ery half yearly@yearly closing in *arch and 9e#tember "alance 0onfirmation Better from

4D&137 shold be sent in res#ect of all 0rrent accont inclding ino#erati!e acconts.

Note & These confirmation letters shold be sent only after all the books of branch has been balanced.

+=.1 The #re#aration of confirmation letters shold be taken # on hand sfficiently early and all the

#articlars filled in e$ce#t the balance, so that this may also be filled in




%$O 'AN

immediately the books are balanced on 9e#t. and *arch of e!ery year and the con&firmation letters

des#atched with the least #ossible delay. These shold be attached to the statements of acconts for the

month of 9e#tember and *arch. Debit ad!ice abot incidental charges shold also be #referably

#inned to the statement of acconts.

+=.2 0onfirmation letters may be sent throgh #eon or by #ost nder certificate of #osting.

+=.3 E!ery effort shold be made to get back as many confirmation letters as #ossible dly signed by the

accont holders.

9#ecial attention shold be #aid to acconts with large trno!er and@or hea!y balances. 9ch acconts

shold be got confirmed in!ariably. %f confirmation letters are not recei!ed back within a reasonable

time, acconts holders shold be contacted #ersonally or reminders sent to them.

%n the ledger folio of the accont which has been confirmed a stam# K"alance 0onfirmed on

shold be affi$ed against the relati!e balance and initialled by Officer

concerned.

The confirmation letters shold be ke#t in a se#arate file after !erifying thereon signatre of accont

holders.

1 ; . 'ALAN$ING

+-.+ 0rrent accont ledgers shold be balanced once in a fortnight on days to be s#ecified and as often

as the *anager may direct.

+-.1 9mmation balancing shold be done once in si$ months at the time of half&yearly@ yearly closing.

+-.2 "alances of all crrent acconts shold be taken down ledger&wise and their total shold tally with

res#ecti!e balances as shown in Abstract "ook. The total balances of all ledgers shold tally with

<eneral Bedger figres.

+-.3 %f the figres do not tally, immediate efforts shold be made to locate the error.

+-.8 o entries shold be #assed in ad(stment of figres withot the matter being broght to the

attention of the *anager @ %n charge of De#osit.

+-.: The *anager mst contersign the Ad(stment !ocher.

+-.= The Officer, who has been allotted the dty of checking the balances, shold check the (otting down

of balances from ledger and also totals in the balance book.

+-.- The final balance in balance book shold be written in words and below that a rbber stam# with the

following words shold be affi$ed and signed by #ersons concerned.




%$O 'AN

"alanced by .......................................................... 40lerk7

0hecked by ........................................................... 4Officer7

E$amined by ......................................................... 4Accontant7

%nitial of *anager .................................................

4For detailed instrctions, kindly refer to 0ha#ter o. C%%% K"alancing of Bedgers7

1 C . #EARL# $LOSING

KTo and K"y of 0rrent Accont Bedgers shold be done at the time of yearly closing as on 2+st

*arch e!ery year.




ANNE9%RE < I [D-1 (Re!se"# $

ÿÍÝ§Ù ’Ò¥Ý§ %$O 'AN For O,+e %se

A$$O%N! OPENING FOR" (FOR O!HER !HAN INDIVID%ALS) Accont o. ...................................

Bedger 6 Folio o0RRET DE5O9%T@ 9A/%<9 "AG 4where a##licable7 @ RE0RR%< DE5O9%T @ 0O BAG9*% >OHAA 0stomer %D

The *anager, 0O "AG,%nitial of Athorised Official

"ranchDate

Dear 9ir,

%@We re'est yo to o#en @ contine a 0rrent @ 9a!ings @ Recrring De#osit @ 0O Bakshmi >o(ana Accont with yor "ank as #er #articlars gi!en below. % @

We ha!e read and nderstood the rles in res#ect of rele!ant De#osit A@c. and agree to be bond by them as now in force or to any change that may be made

therein from time to time.

Title of Accont ............................. ................................ ................................ .................................. ................................ ................................ ................................

Address .............................................................................................................................................................................................................................................

Tel.Do....................................................Fa$ @ E&mail ...........................................0onstittion ................................... Date of starting bsiness .............

Bine of "siness ......................................................................................................9orces of fnds ............. ............ ............ ............ .............. ............ ............

9orces of Annal %ncome ....................................................................................5A @ <%R o. 4%f not allotted enclose From :?@:+7 ...........................

%nstrctions for O#eration .............................................................................................................................................................................................................

5articlars of athorised o#erators of the Accont

5hoto 5hoto 5hoto 5hoto

4+7 417 427 437

Fll ame 4in block letters7 Designation ationality Occ#ation Residential Address 5hone o.

+. ..................................................... ...................... ............... ................... ................................................... .....................

........................................................ ...................... ............... ................... ................................................... .....................

1. ..................................................... ...................... ............... ................... ................................................... .....................

........................................................ ...................... ............... ................... ................................................... .....................

2. ..................................................... ...................... ............... ................... ................................................... .....................

........................................................ ...................... ............... ................... ................................................... .....................

3. ..................................................... ...................... ............... ................... ................................................... .....................

........................................................ ...................... ............... ................... ................................................... .....................

For Recrring De#osit @c. ; *onthly %nstalment Rs..... ................ ................. .................. ............ 5eriod ...................................... months

For 0O Bakshmi >o(ana A@c. ; *inimm %nstalment Rs. ................. ................ .................. ................ 5eriod ...................................... months

ecessary docments are attached herewith 4As #er details gi!en below7.

............................................................................................................................................................................................................................................................

............................................................................................................................................................................................................................................................

%@We ha!e no Accont with any other bank@ ha!e accont with "ranch of.. "ank. %@

We do not en(oy@ en(oy fnd based @ non fnd credit facility with them as #er "alance 9heet attachedH

. %@We ndertake to inform yo of

any credit facility a!ailed from another bank @ another branch of yor bank.

H o Ob(ection 0ertificate from lending bank4s7 is to be obtained before o#ening the accont.

The s#ecimen signatre card is sbmitted herewith for yor records.

5lease s##ly me @s a che'ebook for or se. 5lease note to send s a monthly 9tatement of Accont.

>ors faithflly,

+ .. . . . . . . . . . .. . . . .....................................

1. .................................................. 2. ................. ................ .............. 3. ...........................................




%$O 'AN

Se+,/en S,gnature<+u/<,n-e/n,ty or +olle+t,on=negot,at,on o 3,lls et+.

We hereby agree to and athorize yor forwarding to yor agents or to the drawee bank, 0he'es, Drafts or "ills of E$change 4with or withot

docments attached7 de#osited with yo by s for collection or negotiation.

We shall kee#@ hold yo harmless, free from res#onsibility and indemnified for any loss sffered by yo in handling this bsiness de toany case whatsoe!er inclding delay in transit@ #resentation, #ayment or defalt by yor agent.

%n addition to yor ordinary rights as holders of sch che'es, Drafts or "ills of E$change, yo or yor agent will be at liberty to acce#t in #ayment

thereof and to deli!er docments of title that may be deli!erable against #ayment of the said instrment, against a che'e or banker)s che'e or any

other instrment for #ayment in lie of cash and #ayable in yor station or at any other #lace and in the e!ent of sch instrment being dishonored,

to debit the amont to or accot with all charges incrred thereon. We conform that yo can #resent

"ills and recei!e the amont in res#ect thereof in accordance with the sage of the #lace where the "ills are made #ayable.

%t is nderstood that the transactions are in all res#ects at or entire risk and res#onsibility.

Fll ame 9#ecimen 9ignatre Fll ame 9#ecimen 9ignatre

+. ......................................................... ..................................................... 1............... ............................ .................

.............................................

2. ......................................................... ..................................................... 3............... ............................ .................

.............................................

(A) FOR SOLE PROPRIE!OR# A$$O%N!S

%, the ndersigned declare that % am the sole #ro#rietor of the firm...................................................................... and am solely res#onsible for

the liabilities of the firm. % frther ndertake that % shall ad!ise yo in writing of any change that may take #lace in the constittion of thefirm reslting from my taking a #artner into my bsiness, its sale or dis#osal or my ceasing to ha!e any interest in the firm, in any of which e!ents, %

will be liable to yo on any and all obligations and liabilities which may be otstanding against the firms name in yor books #rior to or at the date of

the recei#t by yo of sch notice and ntil all sch obligations and liabilities shall ha!e been li'idated or discharged.

9ignatre

(') FOR SO$IE!IES5 $L%'S OR SI"ILAR 'ODIES

%n terms of the certified co#y of the resoltion of the E$ecti!e@<o!erning body of........................................ dated

handed o!er to yo se#arately kindly athorise the o#eration on the acconts by *r. ......................

................................. ...4designation7 and@or by *r. ........................................................4designation7 and@or contersigned by its 9ecretary or

*r. ................................................. ..............................4designation7 and debit the amont hereof to the accont.

0hairman @ 5resident 9ecretary

($) FOR PAR!NERSHIP A$$O%N!S

We, the ndersigned, inform yo that we are the only #artners in the firm .. ............................................ ....... ........................................................................................................ andare (ointly and se!erally res#onsible for the liabilities thereof. Whene!er any change

occrs in or #artnershi#, we ndertake to inform yo of the same in writing and we shall contine to be liable to yo (ointly andse!erally on any obligation which may be standing in the firm)s name in yor books on the date of the recei#t of sch notice and ntil all

sch obligations shall ha!e been li'idated.

We confirm that or #artnershi# is registered@not registered with the Registrar of Firms and is written@!erbal.

We hereby (ointly and se!erally free yo from any liability for the fnds or the secrity charged in the accont that may be withdrawn by

the remaining #artners after the death, bankr#tcy or retirement of any #artner or #artners before recei#t of or notice thereof and we hereby

indemnify yo against all claims, actions and demands arising from sch withdrawal of the fnds and@or the secrities by the remaining #artners. And

we hereby frther agree and declare that this agreement shall be binding #on orsel!es and or res#ecti!e legal re#resentati!es and yo will not be

liable in any way for the o#eration on the accont in the name of the firm or for withdrawal of the fnds

and@or secrities by any one or more of s as #er mode of o#eration on the accont as athorized by s and recorded with yo.

......................................................................... ............................................................................ .........................................................................

......................................................................... ............................................................................ .........................................................................

*ention name of athorized o#erator 9ignatre

(D) FOR HIND% %NDIVIDED FA"IL# A=$S

As or Hoint ind family firm will ha!e@has dealings with yor "ank in the name of the said

firm, we beg to say that the signatory to this letter, !iz. is the Garta of (oint family and the other

signatories are the adlt co#arceners of the said family. We all frther confirm that the "siness of the said (oint family firm is carried on

mainly by the said Garta as also by the other signatories hereto in the interest and for the benefit of the entire body of co#arceners of the

said (oint family. We all ndertake that all claims de to the "ank from the said (oint family firm shall be reco!erable #ersonally from all or

any of s and also from the entire family #ro#erties of which the first signatory is the Garta, inclding the shares of the minor co#arceners

or any ftre co&#arceners.

Or said karta, or any of or other adlt #arcener is athorized to re#resent and sign on behalf of the said (oint family bsiness in a manner

as a##ears below and has fll nrestricted athority to bind all members of the (oint family howe!er constitted from time to time.

%n !iew of the fact that ors is not a firm go!erned by the %ndian 5artnershi# Act of +21, we ha!e not got or said firm registered nder

the said Act.

e )ill sign on *ehalf of o"r fir+ as follo)s

..................................................................................................................................................... .........................................................................

..................................................................................................................................................... .........................................................................




%$O 'AN

(G) FOR LI"I!ED $O"PAN# A=$S.

KE$tracts of mintes of the meeting of the "oard of Directors of..................................................................................................

......................................................................................................................................................................................................................................

held at the registered office at........................................................................................................................................................................

................................................................... on ..................................................................................................

RE9OB/ED

4a7 That an accont in the name of the com#any be o#ened with 0O "ank at..............................................................

and that *r.....................................................................................................

4 gi-e na+e designation 7H

and *r. ................................................................................................4 gi-e na+e designation 7

is@are athorized to do so and sign the necessary forms and docments therefor.

4b7 And that the bank be instrcted to honor all che'es, #romissory notes and other orders drawn by and all bills acce#ted on behalf of the com#any

whether sch accont be in credit or o!erdrawn, and to acce#t and credit to the accont of the com#any all money

de#osited with or owing by the bank on any accont or acconts at any time or times ke#t or to be ke#t in the name of the com#any

and the amont of all che'es, notes, bills, other negotiable instrments, orders or recei#t #ro!ided they are endorsed@

signed by *r. ...................................................................................H

and *r. .........................................

..................................for the time being of the com#any on behalf of the com#any and sch signatre4s7 shall be sfficient athority

to bind the com#any in all transactions between the bank and the com#any inclding those s#ecifically referred to herein.

4c7 And that *r. ........................................................H

and *r. ....................................................... be a&thorizedto withdraw and deal with any of the com#anys secrities or #ro#erties or docments of title thereto which may be de#osited with the bank fromtime to time whether by way of secrity or otherwise.

4d7 And that *r. ...................... .......................... ...................H

and *r. .....................................................................is@are athorized to acknowledge all ty#es of debts and liabilities on behalf of the com#any.

4e7 And that the bank be frnished with a co#y of its *emorandm and Articles of Association and a list of the names and s#ecimen

signatres of the Directors and other officer4s7 of the com#any athorized to sign on behalf of the com#any and be informed from time to time by

a notice in writing nder the band of the 0hairman of any changes which may take #lace therein and be

entitled to act #on sch notice ntil the recei#t of frther notice nder the hand of 0hairman.

4 f7 And that a co#y of any resoltion of the "oard if #r#orting to be certified as correct by the 0hairman of the meeting or by the 9ecretary

of the com#any shall, and between the bank and the com#any, be conclsi!e e!idence of the #assing of the resoltion so certified.

4g7 And this resoltion be commnicated to the bank and shall remain in force ntil notice in writing of its withdrawal or cancellation is gi!en to the

bank by the 0hairman of the 0om#any.0ertified that the abo!e is a correct co#y of the resoltion #assed on ................................................................................... by he "oard of

Directors of .................................................................................................................. and that it has been entered in the sal corse of

bsiness in the mintes book of the com#any and signed therein by the 0hairman of the meeting@com#any and is in accordance with

the *emorandm and Articles of Association of the 0om#any.

...... ........ .... ........ .... ........ .... ........ ........ .... ...... ...... .... ........ ........ .... ........ .... ........ .... ........ ........ .... ..

0hairman of the *eeting

H Delete one name, if athority is to be !ested in single #erson.

FOR OFFI$E %SE

FOR RE0RR%< DE5O9%T A@0 Date of *atrity *atrity /ale Rs.

Intro-u+e- 3y

ame ............................ ........................................

Ty#e A@c. ..................... A@c. o. ... .....................

Address ................................................................

...............................................................................

Tele#hone o. ....................................................

9ignatre ..............................................................

9ignatre of /erifying Official

0onfirmation obtained o!er #hone

ame of the #erson contacted

(/ntrod"cer 0 an other specif7

Date Tele#hone o.

Better of thanks sent on

Acknowledgement recei!ed on

5articlars inclding #hotogra#hs of athorized o#erations !erified from 4co#y ke#t in records7

#ass#ort@!oter)s %D card@defence %D card@dri!ing licence 4laminated card7@5A



card@credit card with #hoto.

%ntrodction by e$isting accont holder maintaining satisfactory accont for more than

: months@introdction by e$isting banker.

9ignatre of the /erifying Officer

Oen t*e A++ount

Date 0hief *anager@ 9r. *anager@ *anager




%$O 'AN

In-,+at,4e Gu,-el,nes or ,ll,ng u t*e A++ount Oen,ng For/

+7 Bist of Docments to be sbmitted according to the constittion 4originals for ins#ection 6 retrn where!er a##licable7.

Bist of names and addresses of 5artners@ Directors@ Trstees@ *anaging 0ommittee *embers@ Garta and co#arceners to be

obtained.

a7 Sole<Pror,etors*, F,r/ & 0o#y of legal stats of the accont holder e!idencing the name of the accont and sole

#ro#rietor)s name e.g. Trade Bicense, 9ho# 6 Establishment 0ertificate etc.

b7 Partners*, F,r/ & 5artnershi# deed and@or registration certificate@ #artnershi# letter 4A&87.

c7 o,nt Sto+B $o/an,es & 4i7 0o#y of *emorandm and the Articles of Association, 4ii7 0ertificate of %ncor#oration,

4iii7 0ertificate of commencement of bsiness@Registration 0ertificate, 4i!7 0ertified co#y of

the Resoltion of "oard of Directors.

d7 !rust A++ounts & 4i7 A certified tre co#y of the Trst Deed, 4ii7 Resoltion signed by all the trstees,

4iii7 0ertificate of ta$&e$em#tion, if any.

e7 $lu3s5 So+,et,es5 Asso+,at,on & 4i7 0onstittion 6 bye&laws, 4ii7 0ertificate of Registration, 4iii7 A co#y of the resoltion certified

Ot*er s,/,lar3o-,es as tre co#y by the 0hairman and contersigned by the 9ecretary athorising the o#ening

and o#eration of the accont and s#ecifying mode of o#eration, 4i!7 0ertificate of ta$&

e$em#tion, if any.

f7 H%F & Better to be filled # 4A&=7

17 The #erson signing as introdcer mst be well known to the "ank@ e$isting accont&holder for more than si$ months with satisfactory o#erations.

27 5lease mention the mode of o#eration of the accont and the names of officials with designation dly athorised to o#erate the accont as #er resoltion.

37 Organisations@ bodies not er/,tte- to o#en 9a!ings "ank Acconts

i. <o!ernment de#artments@ bodies de#ending #on bdgetary allocations for #erformance of their fnctions.

ii. *nici#al 0or#orations or *nici#al 0ommittees.

iii. 5anchayat 9amities.

i!. 9tate osing "oards

!. Water and 9ewerage@ Drainage "oards!i. 9tate Te$t "ook 5blishing 0or#orations@ 9ocieties.

!ii. *etro#olitan De!elo#ment Athority

!iii. 9tate@ District le!el osing 0o&o#erati!e 9ocieties.

i$. Any #olitical #arty, which is or is deemed to be registered with the Election 0ommission.

$. Any trading@ bsiness or #rofessional concern, whether sch concern is a #ro#rietary or a #artnershi# firm or a com#any or

an association.

87 Organisations@ bodies er/,tte- to o#en 9a!ings "ank Acconts

i. 5rimary 0o&o#erati!e 0redit 9ociety, which is being financed by the "ank.

ii. Ghadi and /illage %ndstries "oard.

iii.Agricltre 5rodce *arket 0ommittee.

i!.9ocieties registered nder the 9ocieties Registration Act, +-:? or any other corres#onding law in force in state or a nion Territory.

!. 0om#anies go!erned by the 0om#anies Act, +8: which ha!e been licensed by the 0entral <o!ernment nder 9ection 18 of

the said Act, or nder the corres#onding #ro!ision in the %ndian 0om#anies Act, ++2 and #ermitted not to add to their names

the words KBimited or the words K5ri!ate Bimited.

!i. %nstittions other than those mentioned in 437 abo!e and whose entire income is e$em#t from #ayment of income&ta$

nder the %ncome Ta$ Act, +:+.

!ii. <o!ernment de#artments@ bodies@ agencies in res#ect of grants@ sbsidies released for im#lementation of !arios #rogrammes@ 9chemes

s#onsored by 0entral <o!ernment@ 9tate <o!ernments sb(ect to #rodction of an athorization from the res#ecti!e 0entral@ 9tate <o!ernment

de#artments to o#en sa!ings bank accont.

!iii. De!elo#ment of Women and 0hildren in rral Areas 4DW0RA7.

i$. 9elf&hel# <ro#s 49<s7, registered or nregistered, which are engaged in #romoting sa!ings habits among their members.

$. Farmers) 0lbs ; /ikas /olnteer /ahini ; ///.




ÿÍÝ§Ù ’Ò¥Ý§ %$O 'AN(

ANNE9%RE < II [D%-1 ('om!ne"# $

To be ke#t in dal cstody at the branch

A$$O%N! OPENING FOR" (FOR INDIVID%ALS)For Office se

Ty#e of A@0 0rrent De#osit @ 9a!ings "ank @ Recrring De#osit @ 0O Bakshmi >o(ana Accont

A@c. o ...................................

.................

The *anager, 0O "ank Date 0stomer %D O.+

"ranch 1. .........................................................

Dear 9ir,2. .........................................................

5lease o#en a 0rrent De#osit @ 9a!ings "ank @ Recrring De#osit @ 0O Bakshmi >o(ana%nitial of Athorised Official

accont as #er details below

FllDame4%n "lockBetters7......................................................................................................................

Father)s@Asband)sDame .........................................................................................................................

4+7 Residential Address 6 Tele#hone o. .....................................................................................................

........................................................................................................................................................................

5hoto Dationality .....................................................................................................................................................

Occ#ation ...................................................................................................................................................

*arital 9tats 9ingle@*arried@Di!orced@Widow4er7



417

Residential Address 6 Tele#hone o. .....................................................................................................

........................................................................................................................................................................


Occ#ation




427

Residential Address 6 Tele#hone o. .....................................................................................................

........................................................................................................................................................................


Occ#ation


5A of +st a##licant ..................................................... 5A of 1nd A##licant ................................................. 5A of 2rd A##licant ......................... .......

+. 5ass#ort o.................................................

........... %ssing Athority ......................................................... /alidity 5eriod ................................. ...........

1. 5ass#ort o.................................................


2. 5ass#ort o.................................................


Date of "irth ................................................................... %n case of minor 4Form D9+0 is enclosed herewith7.

For Recrring De#osit A@c *onthly %nstalment Rs 5eriod *onths

For 0O Bakshmi >o(ana A@c *inimm instalment *a$imm instalment

5e

ri

odmonths

The accont shold be o#erated 9ingly@Hointly@Either or 9r!i!or@Former or 9r!i!or@Any one or 9r!i!or@On behalf of the minor by natral

gardian@gardian a##ointed by 0ort. Accont may be closed or transferred by athorization signed 9ingly@Hointly@Either or 9r!i!or@ Former or

9r!i!or@Any one or 9r!i!or@On behalf of the minor by natral gardian@gardian a##ointed by 0ort.

Any modification of the Term 6 0onditions can be effected with the consent of all the de#ositors and the bank will not be entertaining any sch indi!idal

modification and that irres#ecti!e of the notice@knowledge of sch modification the bank will contine to honor the instrctions in accordance with the

mode of o#eration agreed to by the #arties at the time of o#ening the accont.

a7 %f and when che'es and other instrments are tendered by me@s for collection throgh this accont, %@We agree that "ank will be held res#onsible for

loss 6 delay only if the same has been cased by negligence on their #art and not otherwise.

b7 %@We declare that the rles of 0rrent De#osit@9a!ings "ank@Recrring De#osit@0O Bakshmi >o(ana Accont of 0O "ank has been read by@to me@s

and %@we acce#t them as binding #on me@s.

c7 %@We am@are not o#erating accont with any other bank or branch of 0O "ank@o#erating accont with "ank,

"ranch.

d7 The abo!e #articlars are tre to the best of my@or knowledge and belief.

The s#ecimen signatre card is sbmitted herewith for yor record. %@We do@do not re'est for a che'e&book containing lea!es for my@or se.

5lease isse a 5ass&"ook@note to send to me@s a statement of accont e!ery .

9ignatre of +st A##licant 9ignatre of 1nd A##licant 9ignatre of 2rd A##licant



& 1 &

IN!ROD%$!ION

A. Personal Intro-u+t,on &

% certify that % know the abo!e a##licant@a##licants #ersonally for #ast months@years and confirm his@her@their occ#tation@ occ#ations and

address@addresses as stated abo!e.

ame of the %ntrodcer Address of the %ntrodcer A@c. o. Date 9ignatre of the %ntrodcer

". %ntrodction by !erification of 5ass#ort@Dri!ing Bicence@/oter %dentity 0ard.


FOR ILLI!ERA!E PERSONS A$$O%N! ( S' = RD = %$O LaBs*/, #o?ana )

The *anager, 0O "ank Date

"ranch

Dear 9ir,

Su3 & "y Sa4,ngs 'anB=Re+urr,ng Deos,t=%$O LaBs*/, #o?ana A++ount

The content of the Accont O#ening Form and the rles of the "ank regarding 9a!ings "ank@ Recrring

De#osit@0O Bakshmi >o(ana Accont in force for the time being has been e$#lained to the de#ositor and flly

nderstood by him@her and he@she affi$ed his@her left@right thmb im#ression herender in my #resence in token

thereof.

Beft @ Right thmb im#ression of the de#ositor 9ignatre

%lliterate #erson)s identification

marks ...............................................

..........................................................

9ignatre of Athorized Official

$usto/ers ro,le &

+. 4a7 Details of occ#ation ....................................................................... Office@bsiness address .........................................................................

4b7 Annal income ................................................... 4c7Residential stats Owned@rented@com#any #ro!ided. 4d7 !ehicle owned yes@no

1. 4a7 Details of occ#ation ....................................... Office@bsiness address ........................................................................................................


2. 4a7 Details of occ#ation ....................................... Office@bsiness address ........................................................................................................


NO"INA!ION

+. %@We nominate the following #erson to whom in the e!ent of my@or@minor)s death the amont of de#osit held in the abo!e accont may be retrned by the

bank.

ame of nominee Address of nominee Relationshi# of 5resent age %f nominee is anominee with of nominee minor, his@her

de#ositor date of birth

9#ecimen 9ignatre of nominee 4o#tional7 ..............................................................................................................................................................................

%dentification mark of nominee 4if illiterate7 ..............................................................................................................................................................................

1. As the nominee is a minor on this date, %@we a##oint 9hri@9mt.@Gmari .................................................................... ........................................ .......

............................................................................................................................................ 4name, address and age7 to recei!e the amont on behalf

of the nominee in the e!ent of my@or@minor)s death dring the minority of the nominee.

i7 .........................................................................................................................................

.........................................................................................................................................

ii7 .........................................................................................................................................

.........................................................................................................................................

ame, signatre and address of witness4es741 witnesses to attest thmb&im#ression7

9ignatre @ Thmb&im#ression of the de#ositor4s7 5lace

Date

For de#osit in the name of a minor, the nomination shold be signed by a #erson lawflly entitled to act on behalf of the minor.

FOR OFFI$E %SE

+ . For Recrring De#osit A@0 Date of *atrity *atrity /ale Rs.

+ . %ntrodcer called on the branch and +7 Better of thanks sent to the A@c. holder4s7 on 6 acknowledgement recei!ed on

signed in 5resence of ......

17 %ntrodcer did not call on the branch. Better of thanks sent on 6 acknowledgement

recei!ed on

27 5hotogra#hs !erified from 5ass#ort@Dri!ing Bicence@%dentity 0ard@5A 0ard@/oter)s %dentity 0ard@

1 . Accont may be o#enedAny Other 49#ecify7 ......37 Residential address !erified from Ration 0ard@Electricity "ill@Tele#hone "ill@Any other

49#ecify7

Date 9ignatre of Athorised Official Date 9ignatre of Athorised Official



*AAB OF %9TR0T%O9– VOL. 4 (DEPOSITS) PART-I 49



%$O 'AN

For/ No. 7

4 ee third #ro!iso to of rle ++3D 7

Form of Declaration to be filed by a #erson who does not ha!e either a #ermanent accont nmber or <eneral

%nde$ Register nmber and who makes #ayment in cash in res#ect of transaction

s#ecified in clases 4a7 to 4h7 of rle ++3D.

+

. Fll name and address of the declarant........ ...... . .... . ............. ....

.........................................................................................................................................................................

1

.

5articlars of

transaction ...........................................................................................................................2

.

Amont of the

transaction ..........................................................................................................................

3. Are yo assessed to ta$ ...............................................................................................................

>e

s

@

o

8

. %f yes,

4i7 Details of Ward@0ircle@Range where the last retrn of income was filed S

4ii7 Reasons for not ha!ing #ermanent accont nmber@ <eneral %nde$ Register mber S :. Details of the

docment being #rodced in s##ort of address colmn 4+7.

/erification

%, do hereby declare that what is stated abo!e is tre

to the best of my knowledge and belief.

/erified today, the day of 1?

Date

5lace

ignat"re of the declarant

%nstrctions Docments which can be #rodced in s##ort of the address are ;

4a7 Ration 0ard

4b7 5ass#ort

4c7 Dri!ing licence

4d7 %dentity 0ard issed by any instittion

4e7 0o#y of the electricity bill or tele#hone bill showing residential address.

4f7 Any docment on commnication issed by any athority of 0entral <o!ernment, 9tate



<o!ernment in showing residential address.

4g7 Any other docmentary e!idence in s##ort of the address gi!en in the declaration.


De+larat,on For/ or $urrent A++ounts oene- 3y

,n-,4,-uals

4 This is an integral #art of the Accont O#ening Form for

indi!idals o#ening crrent accont 7

To

0O "ank

"ranch

ANNE9%RE < II

For Office se only

0rrent A@c. o.

49ignatre of athorised Official7

Date

4a7 For 0rrent Accont o#ened by a single indi!idal

The accont will be o#erated #on by me and % athorise yo to honor all che'es or other orders which may be

drawn by me on this accont and to debit sch che'es or orders or bills or notes to my accont with yo

whether sch accont be for the time being in credit or o!erdrawn.

9ignatre

4b7 For 0rrent Accont o#ened (ointly by two or more indi!idals

We re'est and athorise yo ntil any of s shall gi!e yo notice in writing to the contrary to honor all

che'es or other orders which may be drawn on or this (oint accont ke#t by s with yo or bills acce#ted or

notes made on or behalf signed byH

of s and to debit sch che'es or

orders or bills or notes to or accont with yo whether sch accont be for the time being in credit or

o!erdrawn. in the e!ent of death, insol!ency or withdrawal of any of s, the sr!i!or or sr!i!ors of s shall

ha!e fll control of any moneys then and thereafter standing to or credit in or this accont with yo and it is

nderstood that all moneys now or hereafter standing to or credit in or accont with yo shall belong to the

sr!i!or or sr!i!ors in the e!ent of any of s dying dring the crrency of the accont. %t is frther nderstood

that if any one of s forbids #ayment of an accont 4which is not #ayable to all of s (ointly7 the accont if in

credit shall there#on cease to carry interest and shall not to be #ayable e$ce#t on the discharge of all of s or

sr!i!or or sr!i!ors. We also re'est yo to acce#t the endorsement of any one of s to che'es or other orders,

bills or notes #ayable to s.

We (ointly and se!erally agree if or accont or acconts at any time be o!erdrawn to be (ointly and se!erallyliable to yo for any moneys for the time being owing to yo thereon inclding commission and interest.

We also (ointly and se!erally agree that all moneys, secrities or other mo!able #ro#erty 4whether ors (oints or

that of any or either or s either (ointly or se!erally7 in or coming into yor #ossession shall be and remain as

secrity and shall stand charges for the de #ayment of or (oint indebtedness and liabilities to yo from time to

time.

Na/es & S,gnatures &

+ .

1 .2 .



H *ention name of athorised o#erator

Delete ina##licable #aragra#h

*AAB OF %9TR0T%O9– VOL. 4 (DEPOSITS) PART-I 51



$%RREN! DEPOSI! A$$O%N! R%LES

+. 0rrent De#osit Accont can be o#ened by one or more indi!idals, #ro#rietorshi# concern, 5artnershi# Firm, Hoint 9tock

0om#any, F, Trst, Bocal "ody, 9ociety, 0lb, <o!ernment, De#artment@0or#orate@ ndertaking or bank, a##ro!ed

by the bank, sb(ect to their agreement to com#ly with "ank)s rles and reglations.

1. Accont will not be o#ened which is to be o#erated nder a thmb im#ression, cross mark or signatre by hand of another

#erson.

2. Accont mst be #ro#erly introdced to the "ank by someone already known and acce#table to the "ank.

3. 0hange in the address, tele#hone nmber and@or constittion shold be immediately intimated to the "ank.

8. *inimm balance as #rescribed by the "ank from time to time shold be maintained to a!oid #enalty.

:. 0ash and che'es shold be de#osited in the "ank at the s#ecified conters only.

=. A7 The cstomer shold e$amine the 5ass "ook@9tatement of Accont and in case of any discre#ancy, it shold be broght

to the notice of the "ank within se!en days from the date of recei#t thereof. The "ank will not be res#onsible for

any loss arising from negligence of cstomers in this res#ect.

"7 %f the 5ass "ook@9tatement of Accont is lost and a d#licate therefor is soght, the de#ositor will ha!e to a##ly for a

d#licate #ass book@statement and #ay charges as may be decided by the "ank from time to time.

-. Withdrawals are #ermitted only by che'es s##lied by the bank. For a new che'e book, #rinted re'isition from in the

che'e book mst be sed. A ser!ice charge, as may be decided by the "ank from time to time, will be !alid for issance

of new che'e book the cost and res#onsibility of the accont holder. At the time of recei!ing the che'e book, if any

che'e is missing therein. The che'e book mst be ke#t in secred #ossession of the accont holder. Any loss mst be

broght to the notice of the "ank forthwith.

. 0he'es shold be crossed before being de#osited for collection. 0he'es retrned n#aid will attract ser!ice charges #ls

interest as a##licable.

+?. 0he'es shold be drawn against clear fnds in the accont. 0he'es shold not be drawn in antici#ation of fnds to be

credited to the accont. Also, che'es issed and dishonored de to accont holder)s falt sch as insfficiency of

fnds@che'es drawn irreglarly etc. will attract, #art from ser!ice charge le!ied by the "ank, #enal #ro!ision nder the

egotiable %nstrment Act.

++. *tilated, stale, #ost dated and irreglarly drawn che'es, as also che'es containing e$traneos matter, are liable to be

dishonored. any alteration is to be athenticated by drawer.

+1. The collection of otstation che'es will be made at 9er!ice charge rates fi$ed by the bank from time to time.

+2. Folio charges as #rescribed by the "ank and ot of #ocket e$#enses namely #ostage etc. incrred in connection with

handling the accont will be debited to the accont.+3. The "ank reser!es the right to send n#aid che'es, discharged bills, ad!ice, letters etc. to accont holders by #ost and

the e!idence of their so des#atched as contained in the "ank)s records will be conclsi!e and binding #on the accont

holders concerned.

+8. %nterest will not be #aid in crrent acconts.

+:. The "ank reser!es the right to close any accont after notifying the accont holder and the "ank)s decision in sch

matters will be final.

+=. The "ank reser!es the right to modify@change these rles and sch alterations and additions commnicated by #tting #

a notice in "ranch 5remises, shall be binding on the accont holder.

UUUUU H H H UUUUU




CHAPTER - II

SAVI

NGSBANK

DEPO

SITS

1 . GENERAL &

+.+ 9a!ings is

intended for

9a!ings for the

ftre.

owe!er,

de#ositors may

not be sre of

how mch they

can sa!e e!ery

month. They

may also

withdraw

amonts

according to

re'irements

and they are

willing to

acce#t

reasonable

restrictions on

the Accontand nmber of

withdrawals.

9a!ings "ank

Acconts are

sitable for

sch #ersons

as salaried

#ersons,

stdents,



children and

retired #ersons

and

#rofessionals.

+.1 The

ad!antages of

a 9a!ings

"ank accont

are

a7 %t hel#s

inclcati

ng the

habit of

9a!ings

and

thrift

among

#eo#le.

b7 %t

facilitate

s

making

#ayment

s by

che'es

c7 %mmediate 0redit

of

otstatio

n

che'es

#to a

certain

amont

is made.

d7 %t

fetchesreasonab

le

interest

e7 5ass

"ook

ser!es as

a record

of

earnings

and

e$#endit

re



f7 0stome

rs can

a!ail the

facility

of

standing

instrcti

ons

g7 ominat

ion

system

ensres

social

secrity.

2 . Intro-u+t,on

o A++ounts &

1.+ All sa!ings

"ank acconts

are to be

#ro#erly

introdced by

some #erson

known to the

bank. The

branches are

re'ested to

make their

own en'iries

abot the

e$istence of

the accont

holder, his

integrity andres#ectability

before they

o#en an

accont in his

name and

consider

e$tending any

facility of

collection and



of discont of

che'es.

%ntrodction

does not

sim#ly mean

obtaining

signatre of a

third #erson

known to it as

introdcer on

the Accont

O#ening Form.

1.1 Reser!e "ank

of %ndia has

also directed

that "ank

shold

in!ariably

insist #on

#ros#ecti!e

de#ositors to

frnish

introdction

for o#ening

9a!ings "ank

Acconts.

1.2 All #recations

and gidelines

#ertaining to

%ntrodction,

as mentioned

in clase no. 2

of 0ha#ter&%

40rrent

Accont7 and

De Diligence

as re'ired

nder JGnow



>or

0stomer)

4G>07

gidelines

shold also be

followed

meticlosly.

. P*otogra* &

2.+ For all

o#erati!e

acconts sch

as 9a!ings

"ank Acconts

o#ened on or

after Hanary

+,

+3 branches

shold obtain

#hotogra#hs at

the time of

o#ening of the

acconts of the

de#ositors@acc

ont holders

who are

athorised to

o#erate the

acconts.

These

#hotogra#hs

shold be

affi$ed on

accont

o#ening form.

0ost of sch

#hotogra#h

*AAB OF%9TR0T%O9– VOL.4 (DEPOSITS) PART-I

53



%$O 'AN

shold be borne by the cstomers. O#erati!e de#osit acconts wold mean all de#osit acconts, which

can be o#erated #on by che'es or withdrawal sli#s. Athorised o#erators wold mean all those

#ersons who are athorised to o#erate the accont as #er declaration made at the time of o#ening of theaccont or as #er declaration sbse'ently made by the accont holders in modification of their earlier

instrction. Where (oint acconts are o#ened on Either or 9r!i!or, Former or 9r!i!or or any one or

any two or by all (ointly etc. basis, #hotogra#hs shold be obtained for all of them. %n case of acconts

o#erated by #ower of attorney holders, #hotogra#hs shold be obtained for both the accont holder and

#ower of attorney holder. For acconts in the name of minors, #hotogra#hs of the gardian o#erating

the accont shold be obtained. For acconts in the name of staff members, the abo!e re'irement

may be wai!ed at the discretion of the "ranch *anager. owe!er, in case of Hoint Accont, of staff

maintained with a #erson who is not member of the staff, #hotogra#hs shold be obtained for those

who are not staff members.

0 . *o +an oen Sa4,ngs 'anB A++ount &

3.+ A 9a!ings "ank Accont be o#ened

a7 "y indi!idal in his@her own name

b7 *ore than one indi!idal (ointly

c7 A gardian on behalf of *inord7 "y a minor who has attained the age of +? years and is literate.

3.1 A 9a!ings "ank Accont can be o#ened in the name of illiterate #erson to be o#erated by his@her

thmb im#ression.

3.2 A "lind 5erson

3.3 0lbs, associations@registered or nregistered@charitable and religios instittions, trst, local bodies,

#rimary co&o#erati!e societies and sch other bodies of identical natre.

3.8 A F #ro!ided it is not a bsiness concern.

3.: %t may be noted that a 9a!ings "ank Accont cannot be o#ened in the name of a trading

or bsiness concern, whether sch concern is a #ro#rietory or a #artnershi# firm, a com#any or an

association or a F.

3.= o 9a!ings accont to be o#ened in case of

a7 <o!ernment de#artment and "odies, that de#end #on bdgetary allocation for #erformance of

their fnction.

b7 *nici#al cor#oration or *nici#al committees




%$O 'AN

c7 5anchayat 9amities

d7 9tate osing "oards

e7 Water and 9ewarage@Drainage "oard

f7 9tate Trst "ooks 5blishing 0or#oration

g7 9ocieties

h7 *etro#olitan De!elo#ment Athority

i7 9tate@District Be!el osing 0o&o#erati!e 9ocieties

(7 Any trading or bsiness concern

k7 Any #rofessional concern 4e.g. firms of 0hartered Accontants, Bawyers etc.7

l7 5olitical 5arties

3.- "t there are e$ce#tion to abo!e and the following bodies@athorities@agencies may o#en 9a!ings "ank

Acconts.

a7 5rimary 0o&o#erati!e 0redit 9ociety which is being financed by the "ank.

b7 9mall Farmers De!elo#ment Agency 49FDA7

c7 Fish Farmer)s De!elo#ment Agency 4FFDA7

d7 *argin Farmers) 6 Agricltral Baborers) Agencies 4*FAB7

e7 Droght 5rone Area 5rogramme 4D5A57

f7 District De!elo#ment Agency 4DDA7

g7 District Rral De!elo#ment Agency@9ociety@4DRDA@DRD97

h7 %ntegrated Rral De!elo#ment 5rogramme 4%RD57

i7 De!elo#ment of Women 6 0hildren in Rral Area 4DW0R7

(7 9elf el# <ro# 49<7, registered or nregistered

k7 Farmers 0lb@/ikas /olnteer /ahini 4///7, %nformal gro#s of rral farmers or entre#reners.

l7 %ntegrated Tribal De!elo#ment Agency 4%TDA7

m7 Agricltre 5rodce *arket 0ommittee 4A5*07

n7 Ghadi 6 /illage %ndstries "oards

o7 9ocieties registered nder 9ocieties Registration Act, +-:?.

#7 0om#anies Bicenced by 0entral <o!ernment nder section 18 of 0om#anies Act, +8: and

#ermitted not to add Bimited or 5ri!ate Btd.

'7 %nstittion other than those in 3.= and whose entire income is e$em#t from #ayment of %ncome

Ta$ nder the %ncome Ta$ Act, +:+.

*AAB OF %9TR0T%O9 – VOL. 4 (DEPOSITS) PART-I55



%$O 'AN

r7 agar 5anchayats, agar 5alikas and *nici#al "odies for #lacement of fnds, gi!en to them

by <o!ernment nder ehr Rozgar >o(na towards the com#onent of

4i7 sbsidy and 4ii7 training and infrastrctre nder schemes for rban *icro Enter#rises

49*E7 and 9cheme for rban Wage Em#loyment 49WE7.

s7 The Villa 5arishad@<ram 5anchayats can o#en 9a!ings "ank acconts in res#ect of Hawahar

Ro(gar >o(na fnds scheme and for fnds released for im#lementation of !arios rral

de!elo#ment@welfare #rogrammes and@or 9bsidy@*argin *oney Binked 5rogrammes

s#onsored by the 9tate <o!ernment@<o!ernment of %ndia.

t7 0ollector 6 District *agistrate@District 0ommissioners@DRDA may o#en 9" accont in res#ect

of fnds released for im#lementation of *ember of 5arliament, Bocal Area De!elo#ment

9cheme 4*5BAD97.

7 <o!ernment De#artment@"odies@Agencies may be allowed to o#en 9a!ings "ank Acconts in

res#ect of fnds released throgh grants or as sbsidies for im#lementation of !arios

de!elo#mental #rogrammes@schemes, s#onsored by 0entral <o!ernment and 9tate

<o!ernments, on #rodction of an athorisation to the "ank from the res#ecti!e <o!ernment

De#artments certifying that the concerned <o!ernment de#artment or "ody has been #ermitted

to o#en 9a!ings "ank Accont.

. ",n,/u/ 'alan+e &

The *inimm amont to O#en a 9a!ings "ank accont and the minimm balance to be maintained

therein is frnished herender

9a!ings "ank Accont

With 0he'e "ook Facility other than 5ension Acconts

"etrool,tan %r3an Se/,<%r3an Rural

%ndi!idals +??? +??? 8?? 18?

Others +8?? +8?? +??? 18?

Withot 0he'e "ook Facility other than 5ension Acconts

%ndi!idals 8?? 8?? 18? +??

5ension Acconts 4with 0he'e "ook Facility7

%ndi!idals 18? +?? +?? +??

5ension Acconts 4withot 0he'e "ook Facility7

%ndi!idals 8? 8? 8? 8?




%$O 'AN

7 . Oen,ng o A++ount &

:.+ The #ros#ecti!e accont holder shold be re'ired to fill # and sign the Accont

O#ening Form in the #resence of Officer concerned. e shold also be s##lied with a co#y of

9a!ings "ank Accont Rles.

:.1 %n case of indi!idal4s7, intending to o#en 9" Accont Form D9&+A 40ombined7 is to be obtained.

:.2 %n case of acconts of minors, declaration@#roof of date of birth of the minor shold be obtained. 4For

detailed instrctions #lease refer to 0ha#ter&C/ KAcconts of *inors7

:.3 %n case of accont holder signing in !ernaclar, indemnity Better 4Form D&327 shold be obtained.

The /ernaclar 9ignatre %ndemnity Better 4D&327 shold be obtained in 9a!ings "ank acconts,

irres#ecti!e of the fact whether the accont is o#erated #on by means of withdrawal forms or by

che'es.

The /ernaclar 9ignatre %ndemnity Better in res#ect of Hoint 9a!ings "ank Acconts mst be signed

by all the (oint accont holders and not by the #erson4s7 who are to o#erate on the accont by signing

in !ernaclar.

As far as #ossible, the #erson witnessing the /ernaclar 9ignatre %ndemnity Better shold be an

inde#endent #erson known to the bank. %f, howe!er, sch a #erson is not a!ailable the *anager may #t his signatre as a witness after the contents of the %ndemnity Better ha!e been e$#lained to the

accont holder.

Note & /ernaclar %ndemnity Better 4D&327 need not be insisted #on in cases where the acconts are

o#ened and o#erated on nder signatre in the regional langage and it is #ossible to ha!e

sch signatre !erified by an athorised Officer at the branch.

:.8 %n case accont holder wants to a!ail of facility of collection of che'es, drafts etc., %ndemnity@Better

4Form "&3?7 shold also be obtained.

:.: %n case of acconts of illiterate #ersons #hotogra#hs of accont holder mst be obtained. 4For detailed

instrctions kindly refer to 0ha#ter&C/ KAcconts of %lliterate #ersons7

:.= The Officer concerned shold ensre that Accont O#ening Form has been correctly and #ro#erly

filled in.

e shold #ay s#ecial attention to the following

a7 ame The name of accont holder shold be written in "lock letters as sometimes it is difficlt

to read a name if it is written in rnning hand.




%$O 'AN

b7 The name of father@hsband, age of #ros#ecti!e accont holder. Fll and detailed address and

occ#ation etc. shold be filled in #ro#erly.

c7 %nstrction %n this colmn, the accont holder shold gi!e instrctions as to who wold o#erate

the accont. 9ch instrctions become necessary only when the accont is o#ened in the name

of two or more #ersons. %n case of (oint acconts instrctions sch as JHointly) JEither or

9r!i!or) etc. shold be obtained. %nstrctions shold be athenticated by all (oint accont

holder. 4For detailed instrctions kindly refer 0ha#ter o. C/ on KAcconts of Hoint 5ersons7.

d7 The #ros#ecti!e accont holder shold also #t his signatre on the 9#ecimen 9ignatre 0ard.

e7 %f any colmn in the form is left blank, a small straight line in ink mst be drawn in between the

blank lines so that there is no change of its being missed.

The Accont O#ening Form shold be careflly scrtinised by the Officer concerned and if he is

satisfied that all the #articlars are #ro#erly written, he shold #t his signatre in fll in the colmn

K9ignatre /erified and Ksigned in my #resence.

b7 The Accont O#ening Form shold be referred to *anager@ Asst. *anager for his

#ermission to o#en the accont. The *anager@Asst. *anager will athorise o#ening of the accont by

#tting his initial on the a##ro#riate #lace of the Accont O#ening Form.

:. While o#ening 9a!ings "ank accont, the first de#osit mst be recei!ed in cash. For de#ositing the

initial amont, s#ecial #ay&in&sli# 4Form D9&17 for 9a!ings "ank Acconts shold be sed which as

sal shold be entered in cash scroll and sent to 0ash De#artment for obtaining cash from de#ositor.

:.+? On recei!ing the #ay&in&sli# after recei#t of cash, the 9a!ings "ank accont shold be o#ened after

making an entry in Accont O#ened and 0losed Register. 0are shold be taken to see that #ay&in&sli#

contains K0ash Recei!ed 9tam# dty signed by 0hief@ ead 0ashier. Accont nmber shold also bewritten in Accont O#ening Form.

:.++ %n the ledger, the accont shold be o#ened serially and all necessary #articlars sch

as name of de#ositor, address, accont nmber, instrctions abot o#eration of acconts #articlars of

che'e book issed 4if any7 shold be written on ledger folio. All the #articlars shold be checked

and initialled by Officer concerned who shold also sign on the ledger folio.

:.+1 5ass "ook shold be got #re#ared and checked and signed by Officer concerned




%$O 'AN

who shold ensre that it is com#lete in all res#ects. Thereafter it shold be deli!ered to accont

holder against his initials in 5ass "ook Register.

:.+2 omination system to bank de#osits is a!ailable nder section 38VA 6 38V" of "anking Baws

4Amendment7 Act, +-2. omination format has been dly incor#orated to the Accont O#ening

Form. 0stomers are to be encoraged to se this facility withot fail 4For detailed discssion, see the

cha#ter on omination of Acconts7.

: . Re>u,re/ent o PAN=GIR Nu/3er or oen,ng S' A++ount &

Any #erson4s7 intending to o#en 9a!ings "ank accont shall ha!e to frnish the %ncome Ta$

#ermanent Accont mber 45A7 or <eneral %nde$ Register 4<%R7 mber. %n absence of the same,

the #ros#ecti!e accont holder may frnish declaration in Form :?@ Form :+. The details of gidelines

in this regard has been mentioned in clase o. : of 0ha#ter&% 40rrent Accont7.

; . no6 #our $usto/ers &

As #er the recommendation of the "D arang 0ommittee, branches shold take

all #ossible #recationary measres to establish the cstomer)s identity at the time

of o#ening the accont. The following #oints shold be adhered to while o#ening the accont.

a7 The residential address of the #ros#ecti!e accont holder mst be !erified from any of the followingdocments

‹ 5ass#ort

‹ Dri!ing Bicence

‹ %dentity 0ard, issed by any instittion

‹ Tele#hone "ill@Electricity "ill showing residential address

‹ Any other docmentary e!idence in s##ort of residential address.

b7 The accont shold be #ro#erly introdced. A confirmatory letter may be obtained from the introdcer,

in case he@she does not call at the "ank in #erson for the #r#ose of introdction.

c7 5hotogra#h of all the #ros#ecti!e accont holders mst be obtained.

d7 The #ros#ecti!e accont holder mst frnish his@her #ermanent@mailing address, #rofession, ser!ice

#articlars etc.

e7 Barge amont of remittances recei!ed or high !ale instrments de#osited for collection shold be

handled with e$tra !igil, es#ecially in newly o#ened acconts.




%$O 'AN

Features Do+u/ents

Acconts of indi!idals 4i7 5ass#ort 4ii7 5A 0ard 4iii7 /oter)s %dentity 0ard

; Begal name an any other names4i!7 Dri!ing licence 4!7 %dentity 0ard 4sb(ect to the

bank)s satisfaction7 4!i7 Better from a recognized s e d

#blic athority or #blic ser!ant !erifying the

identity and residence of the cstomer to the satisfaction

of bank.

; 0orrect #ermanent address 4i7 Tele#hone bill 4ii7 "ank accont statement 4iii7 Better

from any recognized #blic athority 4i!7 Electricity bill

4!7 Ration 0ard 4!i7 Better from em#loyer 4sb(ect to

satisfaction of the bank7

4any one docment which #ro!ides cstomer information

to the satisfaction of the bank will sffice7

For Rral branches in the absence of any of the abo!e

docments, Ration 0ard@ 0ertificate from Bocal "ody will

sffice for establishing identity and address of the

a##licant.

Acconts of trsts 6 fondations 4i7 0ertificate of registration, if registered 4ii7 5ower of

; ames of trstees, settlers, Attorney granted to transact bsiness on its behalf 4iii7

Any officially !alid docment to identify the trstees, beneficiaries and signatoriessettlers, beneficiaries and those holding 5ower of

; names and addresses of theAttorney, fonders@managers@directors and their

fonder, the managers@ directorsaddresses 4i!7 Resoltion of the managing body of the

and the beneficiariesfondation@association 4!7 Tele#hone bill.

; Tele#hone@ fa$ nmbers

The bank has introdced fi!e !ale added sa!ings scheme namely, 0O Royal, 0O Elite, 0O "asic,

0O 0hhatra and 0O Retiree. While the first three schemes are based on the balance maintained in the

sa!ings accont, the last two schemes are meant for s#ecial ty#es of cstomers, stdents and senior citizensres#ecti!ely. These acconts can be o#ened in select branches at #resent. The salient featres of each of the

scheme are gi!en in a smmarized form below.

*AAB OF %9TR0T%O9 – VOL. 4 (DEPOSITS) PART-I 60*



6 1

SAVINGS A$$O%N! PROD%$!S

Features oere- 'as,+ %$O El,te

",n,/u/ "ont*ly A4erage 'alan+e +??? 18,???

(est,/ate- as a4erage o -a,ly 3alan+e)

$*arges on Non<"a,ntenan+e o Rs. 18@& #er Rs. +??@& #er "ont*ly ",n,/u/ 'alan+e transaction month

!ranser= $lear,ng $*arges

l "ult,+,ty ersonal,se- mber of che'e lea!es #to + booklets free

+*e>ue3ooB free in a calendar year:? #er 'arter, after that

Thereafter, Only normal Rs. 1.18 #er leaf ch'. book at Rs. 1.18

#er leaf

l Outstat,on +lear,ng As a##licable +8P discont on share of or commission, bt actale$#enses !iz. #ostage etc.

to be reco!ered

l DD=!!="R=R!GS As a##licable +8P discont

(aart ro/ R'I +*arges)

l Pay Or-ers ormal 0harges o charges only ot of

#ocket e$#enses Rs. +?

l I//e-,ate $re-,t o Outstat,on #to Rs. +8,??? #to Rs. +8,??? in +st yr.6 #to Rs. 18,??? after

+ yr of satisfactory

o#eration

l $as*=$lear,ng=!ranser +8 transactions #er 'arter 8? transaction #er 'arter,

!ransa+t,ons free, beyond that Rs. :@& beyond that Rs. :@& #er

#er transaction transaction

A--,t,onal eatures

l A!" $ar-= De3,t $ar- >es >es

l Stan-,ng Instru+t,ons Rs. +?@& #er transfer in Free transfer in theother cstomers accont same "ranch

in the same branch

l Sto Pay/ent $*arges Rs. 8?@& #er instrment Free #er occasion. *a$imm

Rs. +8?@&



% $ O 'A N(

*A

D EAB OF % D 9 T R E 0 T % O D 9 – V OL . 4 ( DEP O SIT S ) PART-I

6 2

SAVINGS A$$O%N! PROD%$!S

Features oere- 'as,+ %$O El,te

A--,t,onal eatures ('ont)"#

l State/ent o A++ount , re>u,re- 0harged of Rs. 1-@& Free&for last + yr.

,n a--,t,on to ass3ooB #er #age or #art thereof

l Loan Pro+ess,ng $*arges on reta,l Fll 0harges 8?P discont

loans (Pro4,-e- t*e a++ount ,s

/a,nta,ne- ,n t*e sa/e t,er atleast

or a er,o- o 1 year)

l Interest on Reta,l loans(!*e 6a,4er Reglar rate Reglar rate6,ll 3e a4a,la3le only -ur,ng t*e

er,o- 6*en a++ount ,s ,n Royal

t,er an- 6,ll 3e 6,t*-ra6n

6*ene4er ,t /o4es out o t*e t,er)

l D,s+ount on lo+Ber Fll 0harges, de#ending +8P wai!er

on the ty#e of locker

l Pr,4,lege- Ser4,+es $ar-s ro4,-,ng o o

-,re+t a++ess to t*e -eart/ent

*ea-s an- assur,ng r,or,ty an-

,//e-,ate ser4,+e ,nstea- o a

searate +ounter

l Ho/e Del,4ery o DDs o >es

4corier charges will be

reco!ered7

l Ho/e Del,4ery o Pass 3ooBs= o >es

$*e>ue 3ooBs 4corier charges will be

reco!ered7

l $onsultat,on on Insuran+e="utual o >es

un- (at +usto/er re/,ses)

3y 'anBs se+,,e- o,+ers

l A++,-ental Deat* Insuran+e o Rs. +,??,???

l Free G,t (+*e>ue ol-er et+.) o >es

4#to Rs. 8?@&7



% $ O 'A N(

*

A D EAB OF

SAVINGS

A$$O%N! &SPE$IAL VARIAN!S

%$O $**atra

%$O Ret,ree



",n,/u/ 'alan+e FD Rs. 8,??,??? or *inimm



A!erage 9" "al Rs. +,??,???

"ult,+,ty ersonal,se- +*e>ue3ooB 1 booklet free #er 'arter, after

that Rs. 1.18 #er leaf

$as*=$lear,ng=!ranser !ransa+t,ons nlimited

A!" $ar-= De3,t $ar- FreePersonal,se- $*e>ue 3ooB >es, + Free

PO=DD=Outstat,on $lear,ng $*arges 2?P discont on share of or

commission bt actal

e$#enses !iz. #ostage to be

reco!ered

Stan-,ng Instru+t,ons $*arges Free transfer in the same

branch

I//e-,ate $re-,t o Outstat,on #to Rs. 2?,???

$*e>ues in +st >r. 6 #to s. 8?,??? after

+ yr. of satisfactory o#eration

Lo+Ber Rent 2?P Wai!er

Pr,4,lege- Ser4,+es $ar- >es

(ro4,-,ng -,re+t a++ess o t*e

-eart/ent *ea- an- assur,ng

r,or,ty an- ,//e-,ate ser4,+e)

State/ent o A++ounts , re>u,re- ,n Free for last 1 yrs.

a--,t,on to ass 3ooB

Ho/e Del,4ery= $olle+t,on o >es

Instru/ents 4corier charges will be

reco!ered7

$*arges or Non</a,ntenan+e o Rs. 3??@& #er month

/,n,/u/ 3alan+e'A N(



%$O 'AN

C . Deos,t o $as* &

De#osit into 9a!ings "ank accont can be made by de#osit of cash. The 5ay&in&sli# 4D9&17 is to be

filled in correctly as to the name of the Accont holder and accont mber. There is no restrictions in

acce#ting nmber of de#osits in a month or in a day. owe!er, making de#osit more than once in a

day mst be backed by (stified reasons. There is also no restriction in the 'antm of de#osit #er

occasion, bt the amont to be de#osited shold not ha!e any fraction of a r#ee.

1 . $olle+t,on=$lear,ng o Instru/ents &

o che'es, drafts etc. can be acce#ted for collection if the accont is not introdced.

+?.+ owe!er, where accont has been #ro#erly introdced, che'es, demand draft and di!idend warrant

can be acce#ted for collection. E!en in sch cases, only those che'es, demand drafts and di!idend

warrant shold be collected as are made ot or drawn in fa!or of the accont holder and not endorsed

to him i.e. che'es and other instrments drawn in fa!or of third #arties are not to be credited to

9a!ings "ank acconts.

+?.1 All che'es, drafts and other !alable instrments sent by a 9a!ings "ank accont holder by #ost

mst be transmitted only by means of Registered #ost failing which the "ank will be absol!ed of all

liability arising from any frad in res#ect of sch instrments being lost or stolen in transit.

+?.2 For de#osit of che'es, draft, di!idend warrants etc., sa!ings bank accont de#osit #ay&in&sli# 4D9&

17 shold be sed.

1 1 . ,t*-ra6als &

++.+ Amont may be withdrawn from 9a!ings "ank Accont by

a7 0he'es

b7 Withdrawal sli# 4D9&27

++.1 There shold be no bar against allowing o#erations by se of withdrawal sli# in a che'e o#erated

9a!ings "ank accont withdrawal sli# is allowed sb(ect to ;a7 The withdrawal sli# being accom#anied by the relati!e #ass book

b7 Withdrawal sli#s are #resented for #ayment by the de#ositor himself@herself.

++.2 %n 9a!ings "ank Acconts there are following restriction on withdrawal of money

a7 The total no of withdrawals dring half&year whether by che'e or otherwise shold not e$ceed

8?. %n case, it e$ceeds the ser!ice charge as de mst be reco!ered.

b7 se of withdrawal sli# in 9" Accont is #ermitted withot any limitation on the




%$O 'AN

amont of sch a withdrawal sli# #ro!ided the withdrawal sli# is accom#anied by the relati!e

#ass book and is #resented by the concerned de#ositor himself. There is no restriction on

amont of withdrawals in che'e o#erated acconts.

++.3 Withdrawals in 9a!ings "ank acconts whether by che'e or withdrawal sli# can only be #ermitted

against sfficient balance and in no case against che'es etc. in corse of collection.

++.8 %n making the withdrawal, whether by che'e or withdrawal sli#, an accont holder mst see that no

withdrawal is made for a sm less than Rs. 8@&.

++.: E!ery withdrawal sli#@che'e shold bear the nmber of the accont. %n case of che'es, at the time

of issing of che'e book, accont nmber shold be written by branch on each che'e leaf nder the

initial of Officer concerned.

++.= o withdrawal by withdrawal sli# is #ermissible nless the relati!e #assbook is #resented

simltaneosly with the withdrawal sli#.

owe!er, there may be nsal circmstances when or insistence #on the #rodction of #assbook

wold seriosly incon!enience a !aled accont holder. Discretion has

been gi!en to *anager to allow withdrawal withot #ass book. 9ch discretion is to be sed !ery

s#aringly and only nder sch circmstances as wold otherwise case great hardshi#s to the de#ositor

and where the de#ositor is #ersonally known to the *anager.

The #rocedre to be followed for #ermitting sch withdrawals is as herender

a7 A s#ecial withdrawal form 4D9&2A7 shold be sed by de#ositor. %n case of (oint acconts, this form,

mst be signed by all #ersons, as sti#lated in the Accont O#ening Form.

b7 A Register, as #er s#ecimen gi!en below, shold be maintained to record all cases of issing

withdrawal sli# in Form D9&2A.

Date o Na/e o A=+ A/ount In,t,al o A=+ *ol-ers Date o "anager=

, s s u e *ol-er "anager= s,gnature ,n ost,ng ,n Asst. "anger

Asst. "anager a+Bno6le-ge/ent ass 3ooB

o t*e re+e,t o 6,t*-ra6al sl,

(1) (2) () (0) () (7) (:)

c7 The register shold be nder the fre'ent scrtiny of the *anager in order to ensre that there is no

nsal delay on the #art of the accont holder in #resenting the #ass book to be written #to date and

in cases, where necessary, the matter shold be followed # with the accont holder so that colmn :

of the register does not remain blank for long.




%$O 'AN

d7 Withdrawal by withdrawal sli# 4D9&2A7 shold be #ermitted nder the abo!e conditions only to the

accont holder himself. %n other words the accont holder mst call #ersonally for withdrawing from

his 9a!ings "ank Accont by means of withdrawal sli# in Form 4D9&2A7.

e7 Where an accont holder fails to #rodce his #ass book after being allowed to withdraw from his

accont by means of withdrawal sli# 4D9&2A7, no frther withdrawal by another sch withdrawal sli#

shold be #ermitted ntil nless the relati!e #ass book is #rodced for entry.

f7 Whene!er a withdrawal is #ermitted against a withdrawal sli# in Form 4D9&2A7 a note

shold be made against the corres#onding entry in the ledger, Kot entered in the #ass book.

1 1 . ; Pr,n+,les an- re+aut,ons or ay/ent t*roug* 6,t*-ra6al sl, &

a7 %t is to be noted that JWithdrawal sli#) is not a egotiable %nstrment. Ths, the #ro!ision of %

Act, +--+ will not be a##licable to withdrawal sli#. %t is an internal instrment of the "ank

containing athority of de#ositor to withdraw money from the accont and it is de!ised for

con!enience in o#eration in 9a!ings "ank accont.

b7 ormally, a withdrawal sli# shold be #resented along with the relati!e #ass book by the

de#ositor himself@herself or one of the de#ositors in case of (oint acconts and by the athorised

o#erator in case of acconts of clb@society etc.

c7 %n the e$ce#tional circmstances, #ayment can be made, at the sole discretion of the branch, to

the bearer of the withdrawal sli#, #ro!ided that

‰ The withdrawal sli# is #resented along with the relati!e #ass book

‰ The branch is satisfied abot the genineness of the reason for the de#ositor@ athorised

o#erator not being in a #osition to come to branch for doing the transaction.

‰ The bearer is well known to the branch

‰ The amont to be withdrawn throgh bearer of the withdrawal sli# does not e$ceed Rs.

8???@& only.

‰ 5ermission to #ay to bearer of the withdrawal sli# shall be granted by the *anager@Asst.

*anager@Officer&in&charge of De#osit de#artment.

d7 ormally a withdrawal sli# has to be #esented at the branch for #ayment on the same date on

which it is drawn. nder e$ce#tional circmstances, where the




%$O 'AN

withdrawal sli# is #resented throgh a J"earer) 4as #ro!ide in #oint no. Jc) abo!e7, the branch at

its sole discretion may make #ayment against a withdrawal sli# within a ma$imm of two

working days, following the date on which it is drawn, #ro!ided that ;

‰ The branch is satisfied that the de#ositor is not in a #osition to draw a fresh withdrawal

sli# on the day of #resentation.

‰ That no #ayment against the ante&dated withdrawal sli# wold #t the de#ositor or his

family into great incon!enience.

‰ That all the terms and conditions of #oint no. )c) abo!e are satisfied.

e7 5rimarily, the withdrawal sli# is sed for withdrawing cash from a sa!ings bank accont.

owe!er, a withdrawal sli# can also be sed as a debit athority for internal transfer of fnd

from one accont to another or for the #r#ose of remittances within the same branch. %n sch

cases, the de#ositor has to s#ecifically mention the way of dis#osal of fnd on the re!erse of

withdrawal sli# or on a se#arate #iece of #a#er attached to the withdrawal sli#.

f7 o withdrawal sli# of any other branch shold be acce#ted for the #r#ose of clearing,

collection or #rchase. This restrictions wold be e'ally a##licable to the withdrawal sli#s,

drawn by staff members on their accont.

1 1 . C Oerat,on o Sa4,ngs 'anB a++ount 3y ol-= s,+B= ,n+aa+,tate- +usto/ers &

a7 The following ty#es of cstomers are coming nder this category

‰ An accont holder who is too ill, to sign a che'e@withdrawal sli#, to be #hysically

#resent in the bank to withdraw money from the accont, bt he@she is able to #t his@her

thmb im#ression on the che'es@withdrawal sli#.

‰ An accont holder who is not only nable to be #hysically #resent in the bank bt also not

e!en able to #t his@her thmb im#ression on the che'e@ withdrawal sli# de to certain

#hysical defects@inca#acity.

N' & Old@sick@inca#acitated cstomers do not inclde the #ersons those arementally inca#acitated i.e. neither they know what transaction they are to

make nor what amont they wold withdraw. 5ersons of nsond mind

and in 0omatose stage are not co!ered nder this category.

b7 With a !iew to enabling the old@sick@inca#acitated accont holders to o#erate

their bank acconts, branches may follow the ndernoted #rocedre.

i7 Where!er thmb or toe im#ression of sch cstomers is obtained on the

che'e@withdrawal sli#, the same shold be identified by two inde#endent

witnesses, known to the bank, one of whom shold be an Officer of the branch.




%$O 'AN

ii7 Whene!er the cstomer cannot e!en #t his@her thmb im#ression, toe im#ression may be

taken in lie of thmb im#ression.

iii7 The cstomer shold also be asked to indicate to the bank as to who wold withdraw the

amont from the bank on his@her behalf and he shold #ro!ide a letter of athorisation in

that regard, which shold also be witnessed by two inde#endent witnesses one of whom

shold be an officer of the branch.

i!7 9ch athorised re#resentati!e shall ha!e to #t his signatre on the re!erse of che'e@

withdrawal sli# in token of ha!ing recei!ed the amont with the ndernoted

acknowledgement.

KRecei!ed a sm of R#ees nder athority and on behalf of

9hri@9mt. 4de#ositor7.An alongee may be attached to the che'e or withdrawal sli# to record the abo!e

acknowledgement in case the s#ace #ro!ide for on the re!erse is fond insfficient for the

#r#ose.

!7 Any medical certificate recei!ed@sbmitted in this connection will be additional e!idence

bt not a sbstitte to the #rocedre, detailed abo!e.

1 2 . %n-es,ra3le A++ount &

%f in a 9a!ings "ank accont, there are fre'ent retrn of che'es de to want of fnds, the accont

may be treated as ndesirable accont. %n sch cases, branches may close down sch acconts after gi!ing de notice and sfficient sco#e to the de#ositor to im#ro!e #on.

1 . O4er-rat ,n S' A++ounts &

0lean tem#orary o!erdrafts can be #ermitted in 9a!ings "ank acconts of cstomers, at the *anager)s

discretion # to a ma$imm of Rs. 18??@& in cases of contingency like #ayment of B%0% #remim, fees

to edcational instittions, electricity bills, income ta$, tele#hone bills etc. O!erdraft can be allowed a

ma$imm of 8 times in a year in one accont. O!erdrafts are re#ayable within a month. The ma$imm

no. of 9" o!erdrafts acconts #er branch otstanding at any time has been fi$ed as nder

+7 9mall rral branch 8

17 9mall non rral branch +?

27 *edim branch 1?

37 Barge branch 2?

87 /ery Barge branch 8?

:7 E$ce#tionally Barge branch =8




%$O 'AN

1 0 . Stan-,ng Instru+t,ons &

+3.+ 9tanding %nstrctions shold be acce#ted e!en on non&che'e o#erated 9a!ings "ank acconts,

es#ecially for #ayments like insrance #remia, ta$es, rentals etc. 4For detailed instrctions kindly refer

to 0ha#ter o. C%/ J9tanding %nstrctions).

+3.1 %ntimation of com#liance of standing instrctions shold be sent to cstomers immediately. Also,

whene!er a standing instrction is not carried ot for any reason, the accont holder shold be

informed at once. Failre to carry ot standing instrctions correctly and in time can case

considerable incon!enience, irritation and damage to cstomers, and it affects the bank)s image

ad!ersely.

1 . Interest &

+8.+ Rate & %nterest on 9a!ings "ank Acconts shold be allowed as #er directi!e of Reser!e "ank of

%ndia. The interest rate as a##licable from ?+.?2.1??? is 2.8P #er annm.

+8.1 'as,s o Pay/ent & %nterest shold be allowed on minimm monthly balance between the close of

+?th day and the end of each calendar month.

+8.2 %nterest is to be #aid # to Hne and December each year and the credit to res#ecti!e 9" acconts

shold be made by +?th Hly and +?th Hanary res#ecti!ely.

+8.3 $ases ,n 6*,+* ,nterest ,s not allo6e- &

%nterest shold not be #aid in 9a!ings "ank A@c.

a7 %f the accont is o#ened and closed within 2 months. b7 %f eligible interest is less than Re.+@& #er half year.

1 7 . Pass 'ooB &

+:.+ 5ass "ook shold be issed free of charge when the accont is o#ened. "ranches are ad!ised to

in!ariably offer 4i7 #ass book facility to all its sa!ings bank accont holders 4indi!idals7 and 4ii7 in

case the branches offer the facility of sending statement of accont and the cstomer chooses to get

statement of accont, the branches mst isse monthly statement of acconts.

+:.1 "ranch shold maintain a 5ass "ook Register 4Form D&387 for recording incoming and otgoing

#ass books.

+:.2 Whene!er a cstomer de#osits his #ass book for being written #, branch shold make an entry in

5ass "ook Register and isse a recei#t 4#a#er token7 as #er s#ecimen gi!en below ;

Recei#t for 5ass "ook

a7 ame o. of Accont ....................................................

b7 Date of recei#t of #ass book .......................................

c7 Date on which the #ass book can be collected by the de#ositor ....................................

/nitials of ler'




%$O 'AN

The recei#t shold ad!ise the cstomer the date when he will come to the bank and collect the #ass

book. The recei#t form is to be #re#ared in d#licate, one co#y to be handed o!er to the cstomer

concerned and the other co#y to be held in the #ass book so that the branch makes a carefl note thatthe #ass book is to be #ositi!ely deli!ered on a #articlar date dly made #.

Note & When a 5ass book is de#osited along with withdrawal sli# and when only a co#le of entries

are to be made in #ass book, the #ass book shold be com#leted immediately and not

withheld nnecessarily for com#lying with the formality of isse of the recei#t.

+:.3 While writing the #ass books, the following #oints shold be noted

a7 5ass "ooks shold be written reglarly. The work shold not be allowed to fall in arrears.

Whene!er the work of ledger is not mch and the ledger kee#er has some time to s#are, he may

de!ote his time in writing #ass books.

b7 5ass "ooks shold be written accrately, legibly and neatly, "rief and intelligible #articlars of

transactions mst be recorded therein.

arrations like JTo 0ash), To 0lg, To Trf, "y Trf, shold not be sed. %nstead To

4name of the #ayee mentioned on the che'e7, To trf FDR, RD, 9" a@c

no. 4as the case may be7, "y +st clg, "y main clg, "y trf FDR o. , "y trf

RD no. , shold be sed.

c7 0are shold be taken to see that no entry is omitted.

d7 5ass "ook shold be ended with closing debit and credit smmations and a closing balance.

E!ery #age of #ass book shold contain debit and credit smmations and a balance. The closing

debit and credit smmations and smmations at the end of each #age shold be done

inde#endently and !erified with closing balance and tallied with smmations in ledger. This will

#re!ent #ossible omission of any entry throgh o!ersight or error in co#ying the entries.

+:.8 The ledger kee#er shold affi$ in ledger folio a rbber stam#, K5ass "ook made # to date on

Against the last entry #to which the #ass book has been written and initial it. 5ass

"ook, dly com#leted shold be immediately retrned. %n occasional cases when it is not #ossible a

sim#le recei#t token as #a#er token containing the time of deli!ery of #ass book shold be gi!en to the

cstomer.

+:.: The #ass books shold be initialled by the clerk concerned in token of his ha!ing correctly co#ied the

entries from the ledger.

Note & *anager@Asst. *anager shold ensre that the #ass books are in fact initialled by the ledger

kee#ers before these are deli!ered to the accont holders. For this




%$O 'AN

#r#ose, a test check of some of the #ass books may be made on random basis from time to

time by Officer concerned@Asst. *anager@*anager or by other Officer athorised to do so.

+:.= The #ass book shold thereafter be entered in 5ass "ook Register and deli!ered to cstomer in

#erson or sent to des#atch against his initials in Register.

+:.- Loss o Pass 'ooB & The cstomer shold gi!e a notice in writing to the bank at once if the #ass

book is lost, mis#laced or stolen. "ank may refse to #ermit withdrawals

ntil satisfactory e!idence is #rodced of the loss or theft of the #ass book and@or of the identity of the

accont holder and his right to recei!e the balance in the accont.

+:. Dul,+ate Pass 'ooB & The cstomer shold make a written re'est for isse of d#licate #ass book.

The signatre of the accont holder o the letter shold be !erified by Officer concerned. %f necessary, Officer concerned may ask the accont holder to #rodce

satisfactory e!idence or to gi!e indemnity for the lost or s#oiled #ass book. 0onsiderable care shold

be taken in issing d#licate #ass books, which shold not be issed on mere asking.

On being satisfied abot the identity of accont holder, d#licate #ass book shold be got #re#ared and

issed to him after entering it in 5ass "ook Register and against his acknowledgement. D#licate 5ass

"ook shold be #re#ared starting with the balance made # of the #rinci#al and interest last a##lied.

%n order to distingish the d#licate #ass book from the original one which is lost, the word

KD#licate shold be written in bold letters or stam#ed, on the d#licate #ass book nder initials of

Officer concerned.

A charge as decided by the "ank from time to time shold be reco!ered for issing d#licate #ass

book.

1 : . !ranser o A++ount &

+=.+ 9a!ings "ank accont can be transferred from one branch to another branch regardless of amont at the

re'est of the accont holder4s7. Transfer of sch acconts shold be made free of charge.

+=.1 %nstrctions of a cstomer for transfer of his accont to another branch mst be carried ot

immediately on recei#t of and in accordance with, the instrctions. %t mst be ensred that along with

the balance of the accont the relati!e Accont O#ening Form 4new7 is sent to the transferee banch and

a co#y of the letter is also simltaneosly sent to him both at his last and new addresses. Failre to

carry ot the work relating to transfer of an accont #rom#tly and in time cases great incon!enience

to accont holder and affects bank)s image ad!ersely.




%$O 'AN

+=.2 !ranseror 'ran+* & The following #rocedre shold be ado#ted by transferor branch

a7 A written re'est shold be obtained from the accont holder and he shold

be re'ested to s##ly the following

i7 A new Accont O#ening Form #ro#erly filled in for the files of the new branch

ii7 5ass "ook of the accont

iii7 ntilised che'e book 4if any7

Note & The nsed che'e book recei!ed from the accont holder shold be held at

the branch. A new che'e book shold be issed to the accont holder by

the branch to which the accont is transferred.

b7 9ignatre of the accont holder on letter of re'est for transferring the accont shold be

careflly !erified by Officer concerned.

c7 Officer concerned shold see that #articlars in new Accont O#ening Form

ha!e been #ro#erly filled in. e shold !erify and athenticate the signatres of

accont holder4s7 on the Accont O#ening Form across a rbber stam# bearing

words 0onfirmed.

d7 %nterest accred on the accont shold be calclated # to last month.

e7 The following entries shold be #assed

Debit 9a!ings "ank AccontDebit %nterest 5aid sb&head 9a!ings "ank Accont

0redit ead Office Accont

f7 %n the folio in 9a!ings "ank Bedger, the last entry shold be made in the following form


g7 The accont shold be smmated and closed and smmation noted in the

s#ecial folio reser!ed at the end of the ledger. The following rbber stam# shold

be im#ressed at the end nder the signatres of Officer and Bedger Gee#er

concerned

Accont closed by Transfer to ..

"ranch on nsed 0he'es Retrned o. .. to

o.

Entered into Register Folio o.

Asst. *anager Bedger Gee#er




%$O 'AN

h7 A note abot transfer of accont shold be made nder signatre of Officer concerned in

i7 Accont O#ened and closed Register

ii7 Accont O#ening Form

The Accont O#ening Form shold be cancelled by drawing a red line across the face of the

form and writing in red ink in bold letters KAccont closed by transfer to

"ranch nder initials of officer concerned.

9ch Accont O#ening Forms shold be taken ot and ke#t in a se#arate file.

i7 The #ass book of the accont shold be made # to date and the last entry made in the following

form


Entries in the #ass book shold then be smmated and closed. %n order to a!oid the #ass book

being sed again and as a #recation the words KAccont closed by transfer to

"ranch, shold be written or stam#ed in hold letters on the front

and inside co!ers.

(7 The nsed che'e lea!es shold be entered in "roken 0he'e "ook Register. The officer

concerned shold take ot and destroy the re'isition sli# attached to the retrned che'e book.

The right hand bottom corner s#ace of che'e lea!eswhich is sed for signatre #r#oses shold be cli##ed off with the scissors so that the che'e

lea!es cannot be fradlently sed e!en if they fail into ndesirable hands. The nsed che'e

lea!es shold be in the cstody of the De#osit %n&charge@Asst. *anager till the ne$t ins#ection

after which they shold be destroyed and a certificate to that effect a##ended in the "roken

0he'e "ook Register, nder the (oint signatres of the Officers in whose #resence the che'e

lea!es are destroyed.

k7 A credit ad!ice in Form <&3 for the balance amont of accont transferred and interest accred

thereon shold be #re#ared. The ad!ice shold contain the following #articlars

i7 ame of Accont holder

ii7 Address of accont holder at the #lace which accont is transferred

iii7 Accont mber

i!7 5rinci#al amont transferred

!7 %nterest accred transferred

!i7 *onthly #rodcts of interests accred after last a##lication of interest.




%$O 'AN

l7 On a se#arate sheet, the following #articlars shold be noted

i7 Date when accont was o#ened

ii7 ow it was condcted

iii7 The a!erage balance maintained in it

i!7 9tanding instrctions of the accont holder, if any, at record with the branch

!7 Whether the accont was #ro#erly introdced.

m7 %"0 for the amont of balance of the accont #ls interest shold be #re#ared and sent to


i7 Relati!e ad!ice as mentioned in 4k7 abo!e

ii7 Relati!e note as mentioned in 4l7 abo!e

iii7 Accont O#ening Form

i!7 5ass "ook

+=.3 Transferee "ranch On recei!ing the %"0 along with re'isite docments, the ndernoted

#rocedre shold be followed by the transferee branch

a7 The docments recei!ed along with %"0 shold be careflly scrtinised

by Officer concerned and accont shold be o#ened after obtaining athority

from *anager@Asst. *anager against his initials in the Accont O#ening Form.

Notes &

i7 Accont O#ening Form shold not be acce#ted if attested by an Officer not holding a #ower of

attorney or in rank below that of an Asst. *anager.

ii7 %f the Accont O#ening Form dly attested has not been recei!ed from the

transferor branch the accont shold not be o#ened bt the balance of the accont transferred

shold be held in 9ndry 0reditors Accont 4%nterest shold be credited to K%nterest #aid sb

head 9a!ings "ank Accont7. The accont holder shold be ad!ised immediately by means of a

letter as #er s#ecimen gi!en below, to send the Accont O#ening Form.

K%t gi!es s #leasre to ad!ise that we ha!e recei!ed a sm of Rs. from or

branch for o#ening and accont with s in yor name

OR

%n com#liance with yor instrctions or branch has transferred yor 9a!ings

"ank Accont to s with a credit balance of Rs. which we are kee#ing in

or K9ndry 0reditors Accont #ending com#letion of the docmentation record of the o#ening of the

accont.




%$O 'AN

H

H

H

We shall

thank yo to

#lease retrn

to s dly

com#leted

and signed

the enclosed

Accont

O#ening

Form.

Gindly also

let s ha!e

the #ass book

of the accont

for being

written # to

date and the

che'e book

to be

e$changed for

a new one.

5lease note

that on recei#t

of the

Accont

O#ening

Form from

yo, we shall

send it to or

branch from

where yor

accont has

been

transferred

for



!

A

attention.

Delete where

not necessary.



On recei#t of

Accont

O#ening Form,

it shold be sent

to the transferor

branch for

!erification of

signatre on it

of the accont

holder. The

nsed che'e

book of the

transferor

branch if

recei!ed from

the #arty by the

transferee

branch shold

be sent back to

the former for

their record.

Only on recei#t

of Accont

O#ening Form

with signatres

of accont

holder dly

!erified by

transferor

branch, accont

shold be

o#ened in the

books of

transferee

branch by

re!ersing entry

in 9ndry

0reditors

Accont.



b7 The

following

entries

shold be

#assed


0redi 9a!ings "ank Accont

0redit %nterest 5aid 9b&head&9a!ings "ank Accont

c7 An entry

shold be

made in

AccontO#ened

and

0losed

Register

and a new

serial

nmber

shold be

gi!en to

the

accont

which

shold

also be

noted in

Accont

O#ening

Form

recei!ed

from

Transfero

r branch.

d7 %n the

9a!ings

"ank



ledger,

the

accont

shold be

o#ened

with first

entry as

follows

KAccont

transferre

d from

"ranch

All the

other

necessary

#articlar

s sch as

name and

address of

accont

holder,

accont

nmber,

standing

instrctio

ns if any,

che'e

book

nmber

4if issed7

etc.

sholdalso be



noted

which

shold be

checked

and

initialled

by

Officer

concerne

d.

e7 A

n

e

w

#

a

s

s

b

o

o

k

s

h

o



l

d

b

e

i

s

s

e

d

w

i

t

h

f

i

r

s

t

e

n

t

r



y

a

s

f

o

l

l

o

w

s

K

"

y

a

m

o

n

t

t

r



%$O 'AN

f7 %n case the accont is introdced, a new che'e book shold be issed after com#letion of

necessary formalities.

g7 The transferee branch shold refer the standing instrctions, if any, to the accont holder and

obtain his@their confirmation before commencing to act #on them.

+=.8 When a branch recei!es an en'iry from a cstomer regarding the recei#t of his accont on

transfer from another branch, it shold take # the matter with the transferor branch

by letter@telegram on branch accont, in case it has not recei!ed the balance of

the accont and@or other related #a#ers e!en after a reasonable transit time.

1 ; . !eller Ser4,+e &

+. The Teller ser!ices shall co!er #ayment of che'es for 9a!ings "ank Accont holders and 0rrentAccont holders 4indi!idals7 #to the limit s#ecified from time to time. The 9er!ice wold also

e$tend to acce#tance of indi!idal cash recei#ts from 9a!ings "ank and 0rrent Acconts

4indi!idals7 #to a sti#lated limit. 5ayment against withdrawal sli#s #resented by Drawers

accom#anied by 5ass "ooks is also #ermitted Teller 9er!ice shall also inclde issance 4against

0ash@Transfer7 of DDs for less than Rs. +????@&with Teller@s signatre on blank DD forms which are

dly #re&signed by an em#owered Officer.

*o /ay a4a,l o !eller Ser4,+e &

1. The Teller facility wold be o#en to all e$isting and #ros#ecti!e 9a!ings "ank@0rrent

Accont holders 4indi!idals7.

2. The Teller 9er!ices wold be a!ailable only to those accont holders who ha!e

had satisfactory o#erational record for more than : months inclding maintenance of

minimm balance as sti#lated from time to time.

Pro+e-ures &

3. There is no need for the Teller to maintain d#licate ledger cards and s#ecimen signatre cards. e shold

rely #rimarily on his knowledge and #ast e$#erience, in #assing and #aying che'es@withdrawal sli#s.

8. Teller clerk will maintain Teller 5ayment@recei#t registers in which all the cash #ayments made and cash

recei#ts will be entered. /ochers of cash #ayments@recei#ts will be sent to the relati!e ledger kee#ers

for #osting in ledgers at the branch dring the day and acknowledgement obtained. The !ochers

wold be released from the ledgers and the balances checked in the sal corse by the officers after

!erification of signatres on the che'es.

All !ochers handled by Teller shall be embossed with the Rbber stam# or JTeller) and




%$O 'AN

bear the Teller)s signatre. There is no need for tokens to be issed and therefore no need to maintain

Token "ooks for the Teller. There is also no need to maintain a cash scroll at branches with Teller

9er!ice.

:. 4a7 The "ranch *anager can fi$ the amont initially deli!erable to the Teller 4in the morning7 as #er the

re'irement. %t may normally !ary between Rs. 2?,???@& to Rs. 8?,???@&

4b7 Teller shall be s##lied with sto# #ayment cards and lists of nsatisfactory acconts dly

#dated reglarly which shold be referred to in making #ayments for e$ercising cation.

=. For issance of drafts against 0ash@Transfer, the following #rocedre shall be followed

4a7 0ash, after recei#t will be handled as sal by the Teller and entered in a##ro#riate register.

4b7 %n&charge of draft isse bsiness will hand o!er in the morning #re&signed blank drafts, each

s#erscribed with the legend KBess than R#ees Ten thosand in ade'ate nmber to the Teller

against his 4Teller)s7 signatre in a register indicating indi!idal nmber draft 4say ?????+ to

????1?7. %n the e!ening, the Officer concerned will take back nsed drafts against

acknowledgement with words KRecei!ed back nsed draft forms os. to

. e will also make sre that rest of the #re&signed blank DDs are now #resented

by Drafts issed against 0ash@ Transfer KDraft %sse /ochers.

4c7 Teller will maintain Teller)s Draft %sse register for recording drafts issed as well as a se#arate

DDR&+ Register.

"o-al,t,es o +reat,on o !eller Posts &

-. A branch may ha!e one Teller if the mber of cash recei#ts an cash #ayments to be

handled at the Teller conter is at least 8? in aggregate on a!erage. owe!er, a second

Teller conter may be considered if the nmber of sch !ochers #er day on an a!erage

e$ceeds +??. A "ranch with a Teller shall also ha!e an identified stand by to fnction as

Teller in the absence of Reglar Teller 4on lea!e or otherwise7.

,. The #ower to create Teller)s #ost is !ested with <eneral *anager 4O#erations7 who

will look into as#ects of workload etc. before sanctioning the #ost, based on recommen&

dations of Regional *anager.

+3. The #osting of reglar Teller shall be done as #er #ro!isions of #olicy go!erning #lacement of Award

staff in #osts carrying fnctional allowance as in force. %n "ranches where 0ategory JA) Teller system

is in o#eration and if Teller 0ategory J") is introdced, the #osition of 0ategory JA) will get

atomatically abolished.




%$O 'AN

Non<!eller Fun+t,ons o !eller &

++. Teller 0lerk after tallying cash and handing o!er the cash to 0hief 0ashier@ead 0ashier will attend to

!arios other works allotted to him by the *anager from time to time as #er re'irement of the branch

and also ha!ing regard to the !olme of work handled by him dring a day.

Ot*er re+aut,ons ro+e-ures &

+1. The 0rrent and 9" De#artments shold immediately bring to the notice of the De#osit *anager@ead

of the "ranch, any case of o!erdraft cased de to #assing of any instrment nder this facility, or

signatre on any instrment #aid in Teller conter being at !ariance with the s#ecimen signatre on

record, in order that necessary remedial action is taken 'ickly. %n cases where the acconts are

o!erdrawn, o!erdraft is to be allowed in the acconts and immediately the *anager will write a letter to the accont holder for ad(stment of the acconts. %n case sch written commnications do not yield

reco!ery of the o!erdrawn amont within a reasonable #eriod say 2? days, the branch shold initiate

reglar reco!ery #roceedings.

+2. Teller 0lerks will be res#onsible to see that #ayment effected is in good faith and withot negligence

and after #ro#er !erification of the instrment.

+3. The Teller conter shall ha!e cash cabin like enclosre.

+8. A notice shall be dis#layed at the branch stating that cash #ayments # to Rs. -???@&and cash recei#ts

#to Rs. +????@& in 9" A@cs 4indi!idal7 shall be handled throgh Teller 0onter.

+:. %f on re!iew of the fnctioning of Teller system at a branch it is obser!ed that most of the cash

#ayments and recei#ts as also isse of DDs which are eligible, and can reasonably be handled in the

Teller conter were not in fact handled throgh the Teller conter, <eneral *anager 4O#erations7 can

e!en order discontinance of the Teller 9ystem and withdrawal of the relati!e allowance.

1 C . Sa4,ngs 'anB A++ounts o Sta "e/3ers &

+.+ While o#ening 9a!ings "ank Acconts in the name of members an e$&members of staff either singly

or (ointly with any nmber of his family or the widow of a #erson who was formerly a member of the

"ank)s staff, a declaration shold be obtained from the de#ositor that the amont de#osited and@or to

be de#osited in the accont is@will be owned by the de#ositor.

owe!er, it is the dty of the Officer concerned@Asst. *anager@*anager to see that these concessions

are not mistilised by members of staff. %t shold be watched that




%$O 'AN

retired member who are de#endent on him@her bt shall not inclde legally se#arated s#ose .

2 1 . 'alan+e $on,r/at,on &

1+.+ %t is desirable that after e!ery half&year@ yearly closing in 9e#tember and *arch and after all the

books of the branch ha!e been balanced, "alance confirmation letters 4Form D&137 are sent to all the

9a!ings "ank accont holders who are allowed o#eration by che'es.

1+.1 "alance 0onfirmation Betters may be sent thogh #eon or by #ost nder certificate of #osting.

1+.2 E!ery effort shold be made to get back as many "alance 0onfirmation Betters as #ossible dly

signed by accont holders. "alance 0onfirmation Betters shold be ke#t in a se#arate file after !erifying thereon the signatre of accont holders.

2 2 . !ranser to Inoerat,4e A++ount &

9a!ings "ank acconts which are not o#erated #on for two years shold be treated as stale acconts

and transferred to J%no#erati!e "alance Accont) 4For detailed instrctions. JO#eration) for the #r#ose

means Jde#osits) and Jwithdrawals) made by the de#ositor in the accont and e$cldes #ayments of

interest and dedction of some charges by the bank kindly refer 0ha#ter o. C%/7.

2 . $los,ng o A++ounts &

12.+ A letter shold be taken from the accont holder re'esting the bank to close his accont. is

signatre on the letter shold be !erified.

12.1 %nterest on the accont shold be calclated as #er rles and necessary credit gi!en to accont by

debiting to K%nterest #aid 49a!ings "ank7 Accont.

12.2 %f the accont is being closed within one year from date of its o#ening, an incidental charge as #er

e$tant rles is to be debited to the accont.

12.3 The accont holder shold be asked to draw withdrawal sli#@che'e for the balance amont in

accont which shold be #aid in sal manner.

12.8 %n case, che'e book has been issed, the accont holder shold be asked to retrn the nsed che'e

lea!es, which on recei#t shold be entered in "roken 0he'e "ook Register. %t shold be dealt with in

the manner as mentioned in #aragra#h +3.24%7.

12.: The debit and credit smmation shold be noted down on the last ledger folio for #r#oses of

smmation balancing.

12.= The accont shold be thereafter closed and the following rbber stam# shold be im#ressed at the

end nder the signatres of Bedger Gee#er and Officer concerned.




%$O 'AN

Accont closed on

nsed 0he'e Retrned o. ....................................

To o. ...........................................................................

Entered into Register Folio o. ..................................

Asst. *anager Bedger Gee#er

12.- A note shold be made in the Accont O#ened and 0losed Register.

12. The #ass book of the accont shold also be called and made #to date and closed

on order to a!oid the #ass book being sed again, and as a #rotection, the words

KAccont 0losed shold be written or stam#ed in bold letters on the front and insideco!ers of the 5ass "ook. The 5ass "ook may be retrned to #arty if re'ested by him,

otherwise may be held in the old records of the branch.

12.+?The Accont O#ening Form of the #arty shold be cancelled by drawing red line across the face of

the form and writing in red ink in bold letters KAccont 0losed. 9ch forms shold, thereafter, be

se#arately held in a file.

2 0 . !ranser o 'alan+es to ne6 Le-ger ol,o &

When in corse of making entries of transactions, a #articlar ledger folio gets e$hasted, the balance

needs to be carried o!er to a new folio. %n sch a sitation, the following ste#s to be taken

a7 9mmation of debit entries and credit entries are to be made for the entire folio. The difference

of both the totals wold tally with the resltant balance of the folio.

b7 The name, address, occ#ation, s#ecial instrctions 4if any7, details of che'e book in se,

s#ecial remarks on the last folio 4if any7 accont nmber etc. are to be written at the a##ro#riate

#lace of the new folio, where the balance, held in last folio needs to be transferred.

c7 At the bottom last folio, the following words are to be mentioned, in bold letters and #referablyin red ink nder the signatre of officer concerned.

"ABA0E 0ARR%ED O/ER TO EW FOB%O

9ignatre of Officer

Date

d7 %n the new folio, where the balance was broght forward, the Officer concerned will #t his

signatre as at the a##ro#riate #lace at right hand to# corner of the folio with the date. he wold

also confirm the balance broght forward from the old folio.




%$O 'AN

e7 The date of balance broght forward to new folio as wold be mentioned on the date colmn of

new folio will be the same as that of the date of balance held in old folio.

2 . 'alan+,ng &

18.+ 9a!ings "ank Bedgers shold be balanced once in a month on the day as the

manager may direct.

18.1 "alances of all 9a!ings "ank Acconts ledger&wise shold be taken down and their

total shold tally with res#ecti!e balances as shown in Abstract "ook. The total

balances of all ledgers shold tally with <eneral Bedger Figres.

18.2 %f the figres do not tally, immediate efforts shold be made to locate the error.

18.3 o entries shold be #assed in ad(stment of figres withot the matter being broght before the

*anager. %n other words, the !ochers for making ad(stment in the #rocess of balancing mst be

(ointly signed by the Officer&in&charge of the De#artment@ Asst. *anager and *anager of the branch.

For noting corrected balance after any discre#ancy being srfaced, the corrected "alance 40"7 is to be

signed (ointly by the abo!e officials.

18.8 The staff concerned, who has been allotted with the (ob of balancing shold #t his signatre with

date at the final #age of balance book for the #articlar book for the #articlar ledger, as ha!ing tallied

the Jtotal) with that of the Abstract.

18.: The Officer, who has been allotted with the dty of checking, shold check the (otting

down of balances from the ledger and also the totalling. e shold #t his signatre at the end of the

final balance as ha!ing checked the same.

2 7 . #early $los,ng &

KTo and K"y of 9a!ings "ank Bedgers shold be done at the time of yearly closing as on 2+st *arch

e!ery year.

2 : . Se+,al Instru+t,ons or $o/uter,Je- 3ran+*es &*ost of the branches of the bank are now com#terized and o#erate on software #ackages s##lied by

different !endors. The !endors ha!e #ro!ided the branches with manal of instrctions to work on the

#ackages and ha!e also #ro!ided training to the branch staff on their o#eration. The branches are

ad!ised to ensre that the #arameters of !arios fields of o#eration are correctly set and that the same

are #dated reglarly, based on changes ad!ised by .O. from time to tie, throgh circlars.

"ranches are ad!ised to note, in #articlar, the following #oints in res#ect of de#osit acconts.




%$O 'AN

+. Sa4,ngs A++ounts & 9ettings in res#ect of minimm balances to be maintained in !arios ty#es of

acconts like 5ension A@c, RE A@c, Jo Frill) A@c. etc. to be correctly made. %n acconts where

che'e books are issed, whether o#eration by withdrawal sli#s are allowed is to be set in

#arameter. Rate of interest to be charged for o!erdrawings and charges for ser!ices like isse of

che'e books, retrn of instrments and sto#&#ayments instrctions are to set correctly.

1. $urrent A++ounts= $as* $re-,t A++ounts & %n addition tot he abo!e, the interest

to be charged for allowing drawings against ncleared instrments in case of

crrent acconts and #enal interest to be charged for drawing beyond sanctioned

limit@Drawing 5owers in case of 0ash 0redit Acconts are to be set correctly.

2 ; . %$O NO<FRILLS SAVINGS 'AN A$$O%N!

With a !iew to bringing large cross&section of the #o#lation into banking fold and for enabling them to a!ail

the !arios ser!ices of the "ank, or "ank has introdced the abo!e scheme across all branches in the

contry. The accont o#ening form will be the same as the one sed for o#ening a sa!ings bank accont.

The salient featres of the scheme are as follows

In,t,al Deos,t or Oen,ng t*e A++ount an- "a,ntenan+e o ",n,/u/ 'alan+e &

The accont can be o#ened with a minimm initial de#osit of Rs. 8@&. %n case of che'e facility being a!ailed by the accont holder, the minimm initial balance shold be Rs. 18?@&. %n case of need, the balance in the

accont may be allowed to go e!en below the minimm initial de#osit and the accont may contine e!en

with KVero balance.

O#ening of Accont nder the scheme ; The scheme is introdced in all metro, rban, semi&rban and rral

categories of branches withot making any differentiation with regard to amonts of initial de#osit and

maintenance of minimm balance as #re!ailing at #resent for o#ening of 9a!ings "ank Acconts.

El,g,3,l,ty or Oen,ng No<Fr,lls Sa4,ngs 'anB A++ount &

The eligibility for o#ening Ko&frills Accont will be the same as that for o#ening an ordinary 9a!ings

"ank Accont. 5ersons abo!e the age +? and below +- years and are able to read and write may also o#en a

minor no&frills sa!ings accont in his own name or (ointly with any other #erson.

Restr,+t,on o Nu/3er o ,t*-ra6als=De3,t Entr,es ,n No<Fr,lls A++ount &

#to 18 debit entries in a half&year are allowed free in those acconts. %n case the debit entries e$ceed 18

dring a half&year, charge will be le!ied XRs.2@& #er additional entry dring a half&year.




%$O 'AN

$*arges to 3e le4,e- &

a7 For acconts o#ened with initial de#osits of Rs. 18?@& for ha!ing 0he'e "ook facility, in case the

balance comes down below the initial de#osit e!en #to zero balance, sal charge for non&

maintenance of initial de#osit shall be le!ied.

b7 For standing instrctions ; no charge will be le!ied.

c7 0ollection of che'es and issance of Demand Drafts@*Ts are #ermitted in those acconts and normal

charges are to be le!ied for those ser!ices.

d7 For acconts with che'e book facility, one che'e book of 1? lea!es to be #ro!ided free of charge in

each year. Any additional re'irement of che'es lea!es dring a year will attract a charge of Rs. 1@&

#er che'e leaf.

e7 o incidental and folio charges will be le!ied in these acconts.

f7 All other charges for ser!ices as #resently a##licable for normal 9a!ings "ank Accont are to be

le!ied and reco!ered.

$o/l,an+e o #$ Gu,-el,nes &

%n case, the #erson concerned who wants to o#en the accont is not able to #rodce any of the s#ecified

docments, re'ired to be !erified at the time of o#ening of accont to establish the identity and address of

the cstomer, the accont may be o#ened for those #ersons sb(ect to com#liance of the following

a7 %ntrodction from another accont holder who has been sb(ected to fll G>0 #rocedre. The

introdcer)s accont with the "ank shold be at least si$ month old and shold show satisfactory

transactions. 5hotogra#hs of the cstomer who #ro#oses to o#en the accont and also his address need

to be certified by the introdcer.

or

b7 Frnishing any other e!idence as to the identity and address of the cstomer to the satisfaction of the

bank.

owe!er, while o#ening sch acconts the cstomer shold be made aware that if at any #oint of time the

balance in all his@her acconts with the bank 4taken together7 e$ceeds Rs. 8?,???@&the total credits in the

acconts e$ceed Rs. +.?? lakh in a year, no frther transaction will be #ermitted in the accont ntil fll G>0

#rocedre in regard to !erification of identity and address of the cstomer throgh the docments as

s#ecified are com#lied with.




%$O 'AN

Sa4,ngs 'anB A++ount Rules

+. Any #erson a##ro!ed by the "ank may o#en a 9a!ings "ank Accont. e@she has to sign the relati!e Accont

O#ening Form in #resence of athorised official of the "ank #on agreeing to com#ly with the rles go!erning

9a!ings "ank Acconts and #ro!iding satisfactory introdction.

1. The "ank will not o#en an accont which is to be o#erated nder a cross mark or signatre

by the hand of another #erson.

2. Two 5ass#ort size #hotogra#hs 4three, if the accont is to be o#erated by thmb im#ression7 are

re'ired to be sbmitted by the de#ositors at the time of o#ening of a 9a!ings "ank Accont.

3. E!ery de#ositor while o#ening a 9a!ings "ank Accont shall be re'ired to frnish

5A@<%R o. on the Accont O#ening Form if the de#ositor is an %ncome Ta$ Assessee, or if not, to

gi!e declaration on Form o. :?@:+.

8. 9a!ings "ank Accont can also be o#ened by a natral gardian i.e. father or mother or by a gardian

a##ointed by the 0ort on behalf of a minor. <ardian o#ening an Accont in the name of minor

nder his@her gardianshi# shall ha!e to gi!e a declaration that the fnds withdrawn in the accont

of the minor, from time to time, will be tilised for the benefit of the minor.

:. The "ank reser!es the right to !erify the details gi!en in the Accont O#ening Form throgh any

third #arty, if necessary.

=. 9" Acconts can not be o#ened by any trading or bsiness concern, regardless of its constittion.

owe!er, 0lbs, Associations, 0haritable %nstittions etc. may o#en 9" acconts sb(ect to

!erification of their rles and bye&laws co#ies of which are to be frnished to "ank before o#ening

sch accont.

-. *ore than one 9" Accont cannot be o#ened by an indi!idal singly withot s#ecial consent of

the "ank. Hoint acconts may be o#ened by two or more #ersons where more of o#eration mst be

s#ecified.

,. *inors, ha!ing attained the age of +? years and able to read and write, are allowed to

o#en accont singly, bt no che'e book will be issed against sch accont.

+?. %n case of minor)s accont o#erated by the gardian, the right of the gardian to o#erate the accont will cease

#on the minor attaining ma(ority. Any balance in the accont will be deemed to be the e$clsi!e #ro#erty of the

minor who has attained ma(ority, and frther withdrawals from the accont will be allowed to the erstwhile

minor alone after com#leting #rocedral formalities.

++. 0ash and che'e to be de#osited in the "ank shold be handed o!er to the res#ecti!e conters and no indi!idal

otside the res#ecti!e conters ha!e any athority to recei!e them.

+1. The total nmber of withdrawals from the accont whether by che'e or otherwise will not e$ceed 8? #er half

year or sch ceiling as may be decided by the "ank. For additional withdrawals, a ser!ice charge at the rate

decided by the "ank will be reco!ered from the accont.

+2. 0he'e&book will be issed if the accont is #ro#erly introdced. The 9" Accont holder will be gi!en :?

che'e lea!es free of cost in a year as #er the #resent norms of the "ank and this is sb(ect to change as may be

decided by the "ank. For additional che'e lea!es, ser!ice charge as may be decided by the "ank, will be le!ied.

The cstomer may at the time of o#ening the accont o#t not to se che'e books.




%$O 'AN

+3. Accont holder shold careflly note that while issing a che'e, he@she shold ensre that sfficient balance is

maintained in the accont. %ssing che'e in antici#ation of fnds to be credited to the accont is not #ermitted.

Also, che'es issed and dishonored de to accont holder)s falt sch as insfficiency of fnd@che'es drawn

irreglarly etc. will attract, a#art from ser!ice charge, le!ied by the bank, #enal #ro!ision nder the law of the

land.

+8. *tilated, #ost dated, stale and irreglarly drawn che'e as also che'es containing e$traneos matter will be

refsed #ayment. Any alteration on the che'es@withdrawal sli# shold be athenticated by the fll signatre of

the drawer.

+:. When de#ositing che'es for credit to an accont de#ositors are re'ired to cross them before handling o!er the

same for collection. 0he'es de#osited in the accont and retrned n#aid will attract ser!ice charge at the rate

decided by the "ank #ls interest as a##licable.

+=. %nstrments sch as 0he'es, Demand Drafts and Di!idend@%nterest Warrants will be acce#ted for credit of an

accont only when the accont has been #ro#erly introdced and sch instrments mst be drawn in fa!or of

the accont holder and not endorsed to him@her.

+-. The cstomer has to maintain minimm balance in the accont as may be #rescribed by the "ank from time to

time. Failre to maintain sch minimm balance in the accont will attract #enalty as may be le!ied by the "ank.

+. For acconts o#erated by thmb im#ression,, the de#ositor mst #ersonally !isit the "ank along with the

#assbook to withdraw money from the accont.

1?. %f the #assbook is lost and a d#licate thereof is soght, the de#ositor will ha!e to #ay the #rescribed charges for

a d#licate #assbook.

1+. The #assbook and the che'e book are !ery im#ortant docments. At the time of recei!ing the che'e book, the

accont holder shold cont the che'es therein and draw the attention of the "ank if any che'e is missing

therein. The #assbook and the che'e book mst be ke#t in secred #ossession of the accont holder. Any loss

mst be broght to the notice of the "ank forthwith.

11. "ank will register instrction from the drawer of a che'e to sto# #ayment of it bt it cannot ndertake any

res#onsibilities in case sch instrctions are o!erlooked.

12. %f the accont is closed within a year from the date of its o#ening, a #rescribed charge will be le!ied.

13. "ank reser!es the right to close any accont with #rior intimation if it is not o#erated satisfactorily. The "ank)s

decision is sch matter will be final.

18. omination is acce#ted in fa!or of a single indi!idal only.

1:. The "ank reser!es the right to alter or add to these rles and sch alteration and additions shall be binding on the

accont holders.

UUUUU H H H UUUUU




CHAPTER - III

RECU

RRING

DEPO

SITS

1 . GENERAL &

+.+ Recrring

De#osit means

that term de#osit

accont where a

s#ecified sm is

de#osited

reglarly in each

month dring

the entire tenre

of accont, as

wold be agreed

by the

de#ositors at the

time of o#ening

of accont. "t

withdrawals

from the

acconts are not

allowed within

the s#ecified

tenre of the

accont. #on

com#letion of

the s#ecified

#eriod. the

accont holder

recei!es back

the #rinci#al

amont and

interest.



+.1 Recrring

De#osit

Acconts are

sitable for

fi$ed income

gro# #eo#le

who wish to

sa!e a fi$ed

#ortion of their

earning e!ery

month to meet

ftre

contingencies.

2 . Oen,ng o

A++ount &

1.+ A Recrring

De#osit Accont

can be o#ened

a7 by

indi!idal

in his own

name

b7 by more

than one

indi!idal

in their

(oint

names

c7 on behalf

of a minor

by his

natralgardian

or by a

gardian

a##ointed

by cort.

d7 %n the

name of

minor

singly

#ro!ided

he@she



attained

the age of

+? years

and can

read and

write.

e7 %n the

name of

clbs,

societies,

associatio

ns,

edcation

al

instittion

s, trsts,

firms,

#artnershi

#s

#ro!ided

they are

registered

and (oint

com#anie

s.

1.1 A Recrring

De#osit Accont

can be o#ened

in the name of

an illiterate

#erson to be

o#erated by his

thmb

im#ression.

1.2 A Recrring

De#osit Accont

cannot beo#ened



%$O 'AN

arri!ed at as #er the matrity chart #blished by the "ank. A Recrring De#osit will matre for

#ayment on com#letion of the term and after one month from the last instalment 4de 6 #ayable7 is

#aid.

1.: All Recrring De#osit Accont shold be #ro#erly introdced. 5ro#er identification and introdction

of de#ositors will act as check on o#ening benami or ,+t,t,ous a++ounts. Intro-u+t,on nee- not 3e

,ns,ste- uon , t*e erson ,s alrea-y ha!ing a #ro#erly introdced accont with the bank. %n sch

cases, the #articlars of the earlier acconts are to be mentioned in the a##lication nder athentication

of the s#er!isor.

1.= The #ros#ecti!e accont holder other than indi!idal4s7 shold be re'ired to fill # and sign the

Accont O#ening Form 4D + Re!ised7 in the #resence of officer concerned. e shold also be s##lied

with a co#y of Recrring De#osit Accont Rles. %ndi!idal4s7 shold fill # the form D9&+A4combined7 for the #r#ose.

%n case of acconts in the name of minors, declaration@#roof of date of birth of minor shold be

obtained 4For detailed instrctions kindly refer to 0ha#ter C/ on KAcconts of *inors7.

%n case of (oint acconts, instrctions regarding o#eration of accont i.e. K#ayable (ointly or #ayable

to either or sr!i!or, former or sr!i!or etc. shold be obtained 4For detailed instrctions, kindly refer

0ha#ter C/ KAccont of Hoint 5ersons7.

%n case of acconts of clbs, firms, associations, com#anies etc., branch shold follow the same #rocedre as is followed in case of o#ening of crrent acconts of sch bodies by calling all the

rele!ant #a#ers, docments etc. 4For detailed instrctions kindly refer to 0ha#ter&% K0rrent

De#osits7.

5hotogra#hs of all #ros#ecti!e accont holders to be obtained as #er G>0 orms. %n case of acconts

of %lliterate 5ersons, reference be made to detailed instrctions gi!en in 0ha#ter&C/% JAcconts of

%lliterate 5ersons7.

1.- At the time of o#ening the accont, the de#ositor has to decide abot the amont and nmber of

installments, the amont of instalment and #eriod of de#osit i.e. nmber of installments agreed #on at

the time of o#ening the accont cannot be altered sbse'ently. The details of amont of instalment,

nmber of total installments to be de#osited, rate of interest a##licable and the matrity yield is

re'ired to be filled in the Accont O#ening Form.

%t is the dty of Officer concerned to ensre that all #articlars ha!e been #ro#erly and correctly filled

in the Accont O#ening Form. The rate of interest a##licable and matrity yield is to be checked by

the Officer concerned and he mst #t his signatre on the Accont O#ening Form itself in token of

ha!ing checked the same.

*AAB OF %9TR0T%O9 – VOL. 4 (DEPOSITS) PART-I 8 8



%$O 'AN

1. 5ermission of Asst. *anager@*anager shold be obtained for o#ening the accont by getting his

signatre on Accont O#ening Form.

1.+? For de#ositing the amont of instalment, s#ecial #ay&in&sli#s for Recrring De#osit 4D&8+7 shold be

sed which as sal shold be entered in cash scroll and sent to 0ash

De#artment for obtaining cash from de#ositor. %n case de#ositor #ays first instalment by means of

che'e drawn on same branch, it shold be sent to De#osit De#artment along with #ay&in&sli#s after

entering in Transfer 9croll.

1.++ On recei!ing the #ay&in&sli# after recei#t of cash@debt of accont, the Recrring De#osit Accont

shold be o#ened in the ledger in the sal manner after making an entry in Accont O#ened and

0losed Register. 0are shold be taken to see that the #ay&in&sli# contains 0ash Recei!ed 9tam# dly

signed by 0hief@ead 0ashier or Accont Debited 9tam# dly signed by an athorised officer of De#osit De#artment.

1.+1 %n the ledger, the accont shold be o#ened serially and all necessary #articlars sch as name of

de#ositor, address, accont nmber, #eriod of de#osit, amont of money instalment, matrity yield etc.

shold be written on ledger folio and checked and signed by Officer concerned.

%f the nmber of Recrring De#osit Acconts at a branch is fairly large, different ledgers for different

#eriods of de#osits may be sed otherwise in the same ledger se#arate folios may be allocated for

different #eriods of de#osits.

1.+2 5ass "ook shold be got #re#ared and checked and initialed by Officer concerned

who shold ensre that it is com#lete in all res#ect. Thereafter, it shold be deli!ered to

accont holder against his initials in the 5ass "ook %sse Register.

1.+3 9tanding %nstrctions from the de#ositor for transfer of monthly installments from the 9a!ings "ank

or 0rrent Accont maintained at the same branch may be acce#ted and sch transfers shold be

affected by the branch free of charge.

. Deos,t o Instal/ents an- Penal $*arges

2.+ The accont holder shold #ay the installments for any month on or before the last working day of that

month.

2.1 %n case of late #ayment of installments, #enalty shold be charged by branch from the accont holder

at Rs. +.8? #er +??@& #er month for. Recrring De#osit of #eriod not e$ceeding :? months. For

Recrring De#osit for o!er :? months dration, #enalty XRs.1@&#er Rs. +??@& #er month to be charged.

5enal charges so arri!ed at is to be ronded off to nearest r#ee. The #enal charges is to be realised at

the time of recei#t of the defalted installments.




%$O 'AN

2.2 o wai!er of #enalty e!en if ad!ance instalments are de#osited along with arrear instalments.

2.3 5rocedre for realising the #enal charges

a7 When the 0lerk in charge of 9crolling recei!es a RD #ay&in&sli# 4D&8+7, he wold send the same

immediately to RD De#artment@s#er!isor&in&charge of the de#artment.

b7 0lerk@s#er!isor in charge of RD De#artment will !erify from the ledger as to whether there is

any defalt in de#osit of instalment. %f there is no defalt, the concerned s#er!isor will #t his

initial at the right hand to# corner of D&8+ and will send it back to scroll section for sal action

thereon.

c7 Where the scrolling is done in res#ecti!e de#artment, there is no need of referring the #ay&in&

sli# 4D&8+7 rather it cold be checked in the same de#artment before scrolling.

d7 %n case, there are defalts in de#ositing installments, the s#er!isor concerned will calclate the

#enal charges and will get the credit !ocher #re#ared 40redit other

Recei#t ; <eneral 0harges Reco!ered Accont7 for the amont. After signing the credit !ocher

for #enal charges. he will sign on the D&8+ 4at right hand to# corner7 and will send both the

!ocher 4D&8+ and <&++7 #inned together for scrolling. A sitable noting in red ink shold be

made at the to# of D&88 as nder

K5enal charges of Rs.

9o that, it will not esca#e the notice of recei!ing cashier e!en if the credit !ocher is detached.

e7 %t is the res#onsibility of recei!ing cashier to recei!e the de#osit installments and the #enal

charges also.

f7 With a !iew to #lgging re!ene leakage, the recei!ing cashier@0hief@ead 0ashier shold

ensre that D&8+ bears the initials of s#er!isor&in&charge of RD De#artment before the recei#tof cash against a RD #ay&in&sli#.

0 . !ranser o A++ount ro/ one 'ran+* to anot*er

3.+ Recrring De#osit Accont can be transferred from one branch to another branch of the "ank. Transfer

of sch acconts shold be free of charge. 5ostage and handling charges howe!er, may be reco!ered.

3.1 %nstrctions of a cstomer to transfer his accont to another branch mst be carried ot immediately on

recei#t of and in accordance with, the instrctions. %t mst be ensred




%$O 'AN

accred thereon shold be #re#ared. The ad!ice shold contain the following #a#ers

; ame of Accont holder

; Address of Accont holder at the #lace where the accont is transferred.

; Accont mber

; Accont of monthly installments.

; Total installments to be #aid

; mber of instalments already #aid

; *atrity yield

; 5rinci#al amont transferred

; %nterest accred transferred

(7 %"0 for the amont of balance of the accont #ls interest shold be #re#ared and sent to


; Relati!e ad!ice as mentioned abo!e

; Accont O#ening Form

%t shold be ensred that it is the e$act co#y of the original Accont O#ening Form in the files of

transferor branch. %t shold be attested by an Officer mentioning his@her 5F* o. %n case it is

not #ossible to obtain new Accont O#ening Form, the original may be sent to transferee branch.

; 5ass "ook

3.3 Transferee "ranch On recei!ing the %"0 along with re'isite docments, the nder&noted #rocedre

shold be followed by the transferee branch

a7 The docments recei!ed along with %"0 shold be careflly scrtinised by Officer concerned

and accont shold be o#ened after obtaining athority to do so by *anager@Asst. *anager

against his initials in the Accont O#ening Form.

Note & Accont O#ening Form shold be acce#ted only when it is attested by *anager@ Asstt.

*anager of the branch.

b7 The following entries shold be #assed


0redit Recrring De#osit Accont 4For 5rinci#al amont7

0redit %nterest 5ayable Accont sb&head Recrring De#osit 4for amont

of interest accred7




%$O 'AN

c7 An entry shold be made in the Accont O#ened and 0losed Register and a new serial nmber

shold be gi!en to the accont.

d7 %n the Recrring De#osit Bedger, the accont shold be o#ened noting on the Bedger Folio ;

KAccont transferred from branch

The following #articlars shold also be noted

; ame and address

; Date of transfer

; mber of installments recei!ed

; Total nmber of installments agreed to be #aid

; Amont of each instalment

; Accont mber

; *atrity yield.

e7 On the to# of the 5ass "ook on the inside #age, a noting shold be made KTransferred from

branch on . On the otside co!er also after scoring off the

name of the branch from which the accont is transferred the name of branch to which the

accont is transferred shold be noted nder the initials of an athorised Officer, as also the new

serial nmber.

*en t*e -eos,tor aroa+*es t*e transeree 3ran+*

a7 %n this case two letters of re'est addressed to the transferor branch throgh

the transferee branch along with the rele!ant #ass book are to be taken from the

accont holder.

b7 One co#y of the letter with the #ass book shold be forwarded to the transferor branch.

c7 The transferor branch on recei#t will ado#t the ste#s shown in 34%7

. Pre/ature Pay/ent &

8.+ A Recrring De#osit Accont can be allowed to be closed by accont holder before the e$#iry of the

sti#lated #eriod.

8.1 The accont holder shold make a re'est for #rematre #ayment in writing. %n case of Hoint Acconts,

it is essential that all the de#ositors wold make (oint re'est. %ndian "ank)s Association, howe!er, has

ad!ised that in case of #rematre #ayment of a term de#osit held in Hoint names #ayable on either or

sr!i!or, former or sr!i!or or any one of the sr!i!ors basis, #ayment to either@former@the

latter@anyone or to the sr!i!or4s7




%$O 'AN

wold be #ermissible and !alid #ro!ided a clase allowing the bank to make sch #rematre #ayment

is incor#orated in the Accont O#ening form@a##lication.

Or e$isting Accont O#ening Form does not contain any sch clase. owe!er,

the ndernoted #aragra#h may be handwritten@ty#ed ot on the re!erse of@on a

se#arate sheet and attached to where!er necessary.

K%n contination of or a##lication of date to yo to o#en in or names a Recrring De#osit Accont,

bearing Accont o. at yor branch, we hereby issed and record or consent,

re'est and athorisation that the "ank may, on recei#t of a written a##lication from 9hri@9mt.

the former@letter@ the first @ second named ot of s or either

or sr!i!or of s or anyone or sr!i!ors or sr!i!or of s, in its absolte discretion and sb(ect to sch

terms and conditions as the "ank may sti#late and withot reference to any of the other de#ositorsamongst s

a7 grant a loan@ad!ance against the secrity of the RD Accont held in or (oint names .

b7 *ake #rematre #ayment of the de#osit together with interest de, to the former@ the letter, the

first@second named of s@either or sr!i!or of s@anyone of s or sr!i!or of s etc.

+ .................................................. 1 ............................................... 2 ..........................................

49ignatre of de#ositors7

8.2 The gidelines regarding #rematre withdrawal are as follows

a7 %n the e!ent of a #rematre withdrawal of a term de#osit, the rate of interest #ayable will be one

#ercent less than the interest a##licable for the #eriod for which the de#osit has remained with

the bank.

b7 The o#erati!e rate of interest #ayable on sch #rematre #ayment of Recrring De#osit is one

#ercent less than the a##licable rate of interest for #eriod the de#osit has remained with the

"ank, calclated on a sim#le basis. The a##licable rate of interest will be determined on the

rates #re!ailing on the date the accont was closed.

c7 %nterest is to be #aid for #rematre withdrawal of Recrring De#osit Accont, #ro!ided the

de#osit was with the "ank for atleast the minimm #eriod #rescribed for a term de#osit by the

bank. owe!er, interest on sch de#osit will be calclated on a sim#le basis and sitable ser!ice

charges may also be le!ied.

7 . Interest +al+ulat,on ,n ,rregular=-,s+ont,nue- Re+urr,ng Deos,t A++ount

:.+ *ethodology for calclation of interest in irreglar discontined Recrring De#osit




%$O 'AN

Re#ayment soght on 1nd Hanary 1??=.

Other Rele!ant 5articlars are as follows

Date of O#ening the accont 1+.?3.1??8

5eriod of De#osit 2: months

*atrity Date 1+.?3.1??-

%nterest 5ayable :.?P

%nterest Rates as on 1+st A#ril 1??8 was as follows

5eriod from + year bt less than 1 years 8.=8P

5eriod from 1nd years bt less than 2 years 8.=8P

5eriod from 2 years bt less than 8 years :.??P

$al+ulat,on o Interest &

First we will work ot the monthly 5rodcts reckoned on minimm monthly balance as on +?th and the last

day of the month

Deos,t Date 'alan+e "ont* "ont*ly Pro-u+t

1+.?3.1??8 +??? A#ril 1??8 ?

?.?8.1??8 1??? *ay 1??8 1???

1?.?:.1??8 2??? Hne 1??8 1???

?=.?=.1??8 3??? Hly 1??8 3???

?3.?.1??8 8??? Agst 1??8 3???

?3.?.1??8 :??? 9e#tember 1??8 :???

?2.+?.1??8 =??? October 1??8 =???

+:.++.1??8 -??? o!ember 1??8 =???

13.+1.1??8 ??? December 1??8 -???

?+.?+.1??: +???? Hanary 1??: +????

+?.?1.1??: ++??? Febrary 1??: ++???

?.?2.1??: +1??? *arch 1??: +1???

From A#ril 1??: onwards A#ril 1??: to +?-???

no de#osits made Dec 1??: 4+1???$7

!otal 1 ; 1

Pro-u+t

As the amont is less than Rs. +8 Bakhs, as #er e$tant gidelines no #enalty is a##licable on the de#osit.

ence, the interest rate a##licable will be that a##licable for the actal #eriod, the de#osit remained with the

"ank, i.e. from 1+st A#ril 1??8 till +st Hanary 1??= which is 1? com#leted months. ence the rate

a##licable for this #eriod as on the date of o#ening of the accont is the one Ja##licable for + year and abo!e

bt less than 1 years) which is 8.=8P.




%$O 'AN

%nterest on +-+??? X8.=8P for 1? months will be+-+??? $ 8.=8

+1 $ +??

Rs. -:=.1 or Rs. -:= 4ronding to the nearest r#ee7

S,tuat,on<II

A recrring de#osit accont with an instalment of Rs.+??@& #.m. on ?=@+?@1??1 for 2 years. *onthly

instalment were reglarly de#osited #to *arch 1??2 and sbse'ently the de#osit contined. On

+1@+?@1??8 the de#ositor a##eared for withdrawal of the de#osit.

Deter/,nat,on o rate o Interest

%n this case, the de date of de#osit is ?=@+?@1??8 and the de#osit has remained o!erde till

+1@+?@1??8. %t is to be noted that it is not a #rematre withdrawal, bt re#ayment of term de#osit after

de date, hence interest shall be #aid till the date of matrity i.e. # to ?=@+?@1??8 at contracted rate.

$al+ulat,on o Interest

*onthly #rodcts reckoned on minimm balance between +?th

and last day of the month are

"ont* Instal/ents

October 1??1 +??

o!ember 1??1 +??

December 1??1 2??

Hanary 1??2 2??Febrary 1??2 3??

*arch 1??2 8??

A#ril 1??2 to 9e#tember 1??8 +-???

X :?? C 2? Total 5rodct +=??

%nterest on Rs. +=??@& X +?P #er annm 4contracted rate7 for one month is

+=?? $ +? Rs. +:3.+=#. +:3@&

+1 $ +??

Ths interest #ayable is Rs. +:3

:.2 The recei#t attached to the 5ass "ook at the last #age shold be com#leted and got discharged by the

de#ositor4s7 on a re!ene stam#. %t shold be noted that in case of #rematre #ayment, the Recei#t

shold be discharged by all the (oint accont holders e!en thogh instrctions for #ayment may be

KEither or 9r!i!or bt the declaration as mentioned in 5int o. :.1 abo!e has not been taken at the

time of o#ening of accont from all de#ositors.

:.3 The other #articlars relating to the accont and date of #ayment shold also be recorded in the

Recei#t it shold be detached from the #ass book and along with letter for #rematre withdrawal with

the debit !ocher, meant for making #ayment.




%$O 'AN

:.8 The following !ochers shold be #assed while making #ayment.

Debit ; %nterest 5aid 4RD7

0redit ; Res#ecti!e RD Accont

Debit ; Res#ecti!e RD Accont 4for the entire balance held inclding interest7

0redit ; 0ash @ 5arty)s Accont

:.: %n case of cash #ayment, debit !ocher shold be sent to 0ash De#artment after getting it entered in

Token "ook as sal. %n case of credit to accont, credit !ocher may be released for #osting in ledger

after entry in Transfer 9croll.

:.= The fact of #ayment ha!ing been made of the de#osit amont shold be #ro#erly endorsed in

Recrring De#osit Bedger and in the 5ass "ook (st below the last entry with the following notation

nder the signatre of Officer concerned.

K5aid before matrity on

:.- 5ass "ook may be deli!ered to de#ositor after making bold handwriting in red ink on each #age K5aid

before matrity nder the signatre of Officer concerned.

:. An entry abot closing of accont shold be made in Accont O#ened and 0losed Register.

:.+? A note in red ink in bold letters reading KAccont 0losed by 5rematre #ayment on shold be made

on Accont O#ening Form nder signatre of Officer concerned. 9ch form shold be remo!ed to ase#arate file.

: . Pay/ent on "atur,ty

=.+ A Recrring De#osit Accont matres for #ayment on the date on which the accont

com#letes the agreed #eriod of de#osit as calclated from the date of o#ening the Accont or one

month after the final sti#lated instalment has been #aid, whiche!er is later.

=.1 The Recei#t on the last #age of #ass book shold be com#leted and got discharged by the de#ositor4s7

on the re!ene stam#. %n case of (oint acconts with instrctions #ayable (ointly, all the de#ositors

mst discharged the Recei#t.

=.2 The other #articlars relating to the accont and date of #ayment shold also be recorded in the

Recei#t. %t shold be detached from #ass book and stam#ed with debit !ocher.

=.3 The signatre of de#ositor4s7 on Recei#t shold be careflly !erified by Officer concerned.

=.8 An entry shold be made sitably in Accont O#ened and 0losed Register.




%$O 'AN

=.: The similar !oching shold be done while making #ayment as mentioned earlier in case of #rematre

#ayment.

=.= %n case of cash #ayment, the debit !ocher shold be sent to 0ash De#artment after getting in entered

in Token "ook in the sal manner. %n case of credit to accont, the credit !ocher may be released for

#osting after entry in Transfer 9croll.

=.- The fact of #ayment ha!ing been made of the de#osit amont shold be #ro#erly

endorsed in Recrring De#osit Bedger and on last #age of the #ass book (st below the last entry with

the following notation nder the signatre of Officer concerned K5aid on

=. 5ass "ook may be deli!ered to de#ositor after marking in bold handwriting in red ink in each #age

K#aid on nder the signatre of Officer concerned.

=.+? An entry abot closing of accont shold be made in Accont O#ened and 0losed Register.

=.++ A note in red ink in bold letters reading KAccont 0losed on shold be

made in Accont O#ening Form nder the signatre of Officer concerned. 9ch forms shold be held

in a se#arate file.

; . A--,t,ons=Delet,ons=Su3st,tut,ons=$*ange o na/es ,n Re+urr,ng Deos,t A++ounts

At the written re'est of de#ositor4s7 branches may add@strike off or sbstitte the names of one or

more #ersons in an Recrring De#osit Accont, dring its tenre. Female de#ositors are #ermitted to

change their name conse'ent on their marriage.

C . $on4ers,on o Re+urr,ng A++ount ,nto FDR=u3er #o?na=Deos,t $ert,,+ate

The whole balance in Recrring De#osit Accont can be con!erted into FDR@Gber >o(na@ De#osit

0ertificate any time dring the tenre of the de#osit. The con!ersion will not be treated as #rematre

#ayment and hence will not attract any #enalty. The con!erted de#osit shold be for a #eriod longer

than remaining #eriod of the Recrring De#osit. The rate of interest for the #eriod the Re+urr,ng

Deos,t *as run 6,ll 3e al,+a3le an- ,nterest aya3le to be determined on a 'arterly

com#onding basis will be a##lied. A sitable note on FDR@G> has been issed against con!ersion of

Recrring De#osit Accont o. notionally de on

when the con!erted FDR@G> De#osit certificate is closed before the e$#iry of the original matrity

date on Recrring de#osit accont #enal rate of interest has to be a##lied for the #eriod of Recrring

De#osit #rior to con!ersion also.




%$O 'AN

1 . "o-e o ay/ent o Deos,t 6*ere t*e Aggregate Deos,ts are Rs. 25=< or /ore

When the #rinci#al amont together with the actal interest #ayable thereon, whether on or before

matrity is Rs. 1?,???@& or more sch #ayments shold not be made in cash. 9ch #ayments may be

made either by credit to #arty)s accont or crossed accont #ayee che'e@draft only. For this #r#ose,

total amont #ayable on this de#osit together with other de#osits, if any shold be taken into accont.

1 1 . Pro4,s,on o Interest at 8uarterly +los,ng

"ranch shold #ro!ide interest accred on all Recrring De#osit Accont at the end of e!ery 'arter

with the hel# of the %"A *aster 0hart, circlated by the "ank.

1 2 . O4er-ue Re+urr,ng Deos,t

+1.+ A Recrring de#osit shold be classified nder KO!erde Recrring De#osit, if it remains n#aid

after the de date. %n this connection we shold remember the following.

a7 On matrity, Recrring Accont ha!e to be transferred to O!erde@Recrring De#osit to

#ro#erly classify the de#osit nder demand liability instead of term liability.

b7 The matrity #roceeds of an o!erde recrring de#osit can be treated at #ar with other o!erde

term de#osits for the #r#ose of renewal and #ayment of o!erde interest, #ro!ided the #roceeds

of the matred Recrring De#osit are de#osited nder the Fi$ed De#osit. 9cheme or nder the

rein!estment #lan of the "ank sch as Gber >o(na and@or De#osit 0ertificate 9cheme.

+1.1 The !ochers for transferring a Recrring De#osit Accont into o!erde Recrring De#osit will be ;

Debit ; Recrring de#osit Accont

Debit ; %nterest 5aid Accont 4RD7

0redit ; O!erde Recrring De#osit Accont 4with total amont of matrity #roceeds7

1 . Re,n4est/ent o O4er-ue Re+urr,ng Deos,t A++ount &

The #roceeds of o!erde Recrring De#osit accont can be rein!ested in Fi$ed De#osit@ Gber

>o(na@De#osit 0ertificate at the o#tion of the de#ositor.

%n sch a sitation, the following rles shall a##ly.

a7 %f the re'est for rein!estment comes from the de#ositor within +3 days of date of matrity of

RD accont the FD@G>@D0 shall take effect from the date of matrity of RD accont and the

rate of interest on sch FD@G>@D0 accont shall be as #re!ailing on the date of matrity of RD

accont.

b7 %f the re'est for rein!estment comes from the de#ositor after +3 days of the date of matrity of

RD accont, the FD@G>@D0 shall take effect from the date of sch

*AAB OF %9TR0T%O9 – VOL. 4 (DEPOSITS) PART-I 1 0 0



%$O 'AN

re'est and the rate of interest on sch FD@G>@D0 accont shall be as #re!ailing on the date of

re'est, #ro!ided the #eriod of rein!estment shold be at least e'al to the #eriod it remains

o!erde.

The de#ositor in sch cases shall also be #aid interest for the o!erde #eriod

i.e. from the date of matrity of RD to the date, #receding the date of renewal.

The rate of interest for the o!erde #eriod will be the rate, #re!ailing on the date of matrity or

on the date of renewal, whiche!er is less.

c7 %f the de#ositor does not intend to rein!est the matrity !ale, the interest for the o!erde #eriod

may be #aid at 9" rate, bt in sch a case, the fraction of a month is to be ignored.

1 0 . Int,/at,on o /atur,ty -ate o RD a++ount ,n a-4an+e to t*e -eos,tor

"ranch are to maintain KDe Date Diary meticlosly for all Recrring De#osit Accont. Better of

%ntimation 4D&1=7 is to be sent to the de#ositor at least +8 days before the de date intimating them the

date of matrity of their RD accont.

As the re!ised gidelines for rein!estment of matrity #roceeds of Recrring De#osits as mentioned

hereinabo!e has become more stringent the branches mst follow the abo!e gidelines scr#losly.

1 . 'alan+,ng

+8.+ Recrring de#osit shold be balanced once in three month on days to be s#ecified and as often as the

*anager may direct.

+8.1 "alance of all Recrring De#osit Acconts shold be taken down and their total shold tally with the

<eneral Bedger figres.

+8.2 %f the figres do not tally, immediate efforts shold be made to locate the error.

+8.3 o entries shold be #assed in ad(stment of figres withot the matter being broght before the

*anager.

+8.8 The *anager mst contersign the ad(stment !ocher.

+8.: The Officer who has been allotted the dty of checking the balances shold check the (otting downof balances from ledger4s7 and also totals in "alance "ook.

+8.= The final balance in "alance "ook shold be written in words and below that a rbber stam# with

the following words shold be affi$ed and signed by #ersons concerned.

"alanced by ................................40lerk7

0hecked by .................................4Officer7

E$amined by ...............................4Asst. *anager7

%nitials of *anager .....................

4For detailed instrctions kindly refer to 0ha#ter o. C K"alancing of Bedgers7.




%$O 'AN

RE$%RRING DEPOSI! A$$O%N! R%LES

Oen,ng o Re+urr,ng Deos,t A++ounts &

+. Any #erson a##ro!ed by the "ank may o#en a Recrring De#osit Accont #on agreeing to com#ly with the rles

go!erning sch acconts.

1. A #erson intending to o#en Recrring De#osit Accont mst call at the "ank and sign an a##lication for o#ening sch

an accont and declare therein that he@she has agreed to acce#t the rles for the condct of Recrring De#osit

Accont o. entrance fee or any s#ecial charge for the 5ass "ook will be le!ied.

*o /ay oen Re+urr,ng Deos,t A++ount &

2. A Recrring De#osit accont may be o#ened

a7 by a #erson in his own name or (ointly with other #ersons #ayable to any one or more of them or

sr!i!ors. *ore than one accont in the name of a #erson singly or (ointly may also be o#ened .

b7 by a natral gardian, i.e. father or mother on behalf of a minor, by gardian a##ointed by 0ort. %n sch

a case a declaration of the date of birth of the minor will ha!e be oe be frnished to the "ank at the time

of o#ening the accont.

c7 Accont as minors may be o#ened in their names singly #ro!ided he@she has attained the age of +? years

and can read and write.

d7 %n the name of clbs, societies, associations, edcational instittions, trst, firm #artnershi# #ro!ided they

are register and (oint stock com#anies.

e7 Amont of minimm monthly installment shold be Rs. 8?@&.

3. The "ank will not o#en an accont which is to be o#erated nder a cross mark, or signatre by the

hand of another #erson.

8. The nmber of installments wold sally be +1, 13, 2:, 2, :2, =1, -3, : and +1? thogh any

instalment in mlti#le of 2 4*inimm +1, *a$imm +1?7 may be chosen. The interest rates on

sch de#osit will be the same as a##licable to other terms de#osits nder rein!estment #lan for

the corres#onding #eriod.

:. The instalment is #ayable once e!ery month. E!ery de#ositor shall #ay, the de#osit amont for any

month on or before the last working day of the month, failing in which a #enalty will be charged on

the arrear of instalments X =.8 #aise for e!ery Rs. 8@& #er month for Recrring De#osit acconts

for less than :? months and X +? #aise for e!ery Rs. 8@& #er month for acconts of :? or

more months. A #art of a month will be treated as fll month and the amont will be ronded to

higher 8 #aise, when necessary.

=. All de#osits by a local de#ositor shold be accom#anied by #aying&in&sli# which will be

s##lied free of charge. E!ery #aying&in&sli# shold bear the accont nmber. When a de#osit is not

being made nder #aying&in&sli# and is remitted by *oney Order. 5ostal Order etc. the de#ositor

shold gi!e his@her name and the accont nmber. %f the amont is remitted by che'es on otstation

%t shold inclde the collection charges. 9tanding instrctions from the de#ositor for transfer

of monthly installments from his 9a!ings "ank or 0rrent accont will be acce#ted and sch

transfers will be effected by the "ank, free of charge. %n cases where the de#ositor fails to maintain

sfficient balance in his accont to effect sch transfers, the standing instrctions will be treated as

canceled and the instalment will be deemed to ha!e fallen to arrears.*AAB OF %9TR0T%O9 – VOL. 4 (DEPOSITS) PART-I 1 0 2



%$O 'AN

-. %f a de#ositor is habitally late in making the de#osit or if the de#osit is in arrears for a #eriod e$ceeding 3 months the

"ank may isse a notice calling #on him@her to #ay the arrears within +8 days and in the case of failre to

com#ly with the notice the accont wold be closed at the "ank)s discretion. On sch closre the de#ositor will

be entitled to the amont already de#osited with interest as #er Rle o. 1?.

. %f the de#ositor wishes to close the Recrring De#osit accont and withdraw the de#osit before the e$#iry of the

#eriod agreed #on, interest wold be allowed.

+?. The #eriod agreed #on when o#ening a Recrring De#osit accont cannot be altered sbse'ently.

++. Recrring De#osit Acconts can be transferred from one branch of the bank to another.

+1. *onthly installments will be acce#ted at one branch of the bank for remittance at #ar for credit of the Recrring

De#osit Accont at another branch of the "ank.

+2. omination facilities are a!ailable on Recrring De#osit Acconts.

+3. 9im#le loan may be granted on the secrity of Recrring De#osits #to a ma$imm of =8P of the amont act

credit in the De#osit accont with a minimm of Rs. +??@&.

+8. The a##lication for a loan shall be made in the #rescribed form, the 5ass "ooks shold be sent to the "ank along

with the a##lication and the a##licant shall e$ecte a #romissory note in the #rescribed form s##lied by the

"ank. The Recrring De#osit 5ass "ook will be retrned to the borrower after the loan is ad(sted.

+:. The loan of an accont in (oint names will be gi!en on an a##lication after e$ection of docments by all the

#arties to the accont, nless any instrction to the contrary is being gi!en at the time of o#ening the accont.

+=. o frther loan on the secrity of the same de#osit accont will be granted while a #re!ios loan is e$isting. "t

a new loan on the secrity of the same accont may be granted nder the following conditions.

a7 The #re!ios loan shold be discharged by the new loan.

b7 %nterest will be charged both for the balance of #re!ios loan discharged and for the amont of the new

loan for the month in which the transaction takes #lace, #ro!ided howe!er, that when the amont of the

new loan e$ceeds the balance of the #re!ios loan discharged by not less than Rs. 1??@& no interest will be

le!ied for the balance of the #re!ios loan discharged for that month.

+-. The "ank reser!es to itself the right to refse or close any accont withot assigning any reason there for.

+. The "ank reser!e to itself the right to delete, add to or after these rles at any time withot gi!ing a s#ecific and

se#arate notice to e!ery accont holder and an annoncement of the change in the rles #asted on the otice

"oard in the "ank or gi!en in the #ress will be considered as sfficient notice.

1?. 5rematre Re#ayment %f a Recrring De#osit is re'ired to be #aid before matrity, interest #ayable will be one

#er cent less than the interest a##licable for the #eriod for which the de#osit remained with the bank, interest as

#ermissible shall be at sim#le rate.

UUUUU H H H UUUUU *AAB OF %9TR0T%O9 – VOL. 4 (DEPOSITS) PART-I 1 0 3



%$O 'AN

!HIS PAGE IS

LEF! 'LAN

FOR

F%R!HERADDI!IONS



*AAB OF

%9TR0T%O9 –VOL. 4(DEPOSITS)

PART-I1 0 5



CHAPTER - IV

FIXED DEPOSITS, KUBER YOJNA DEPOSITS AND

DEPOSIT CERTIFICATES

1 . GENERAL

+.+ According to R"% Directi!e KTerm De#osit shall mean a de#osit recei!ed by a "ank for a fi$ed

#eriod, which is withdrawable only after the e$#iry of the said fi$ed #eriod. The rates of interest for

different #eriods o#erati!e on the date of acce#tance of the de#osit

will be as s#ecified by the bank from time to time. 9o it is absoltely necessary to mention the date of

isse, the #eriod for which the de#osit has been acce#ted, the de date and also the a##licable rate of

interest.

+.1 Fi$ed De#osit, Gber >o(ana and De#osit 0ertificate are the old de#osit schemes, of or "ank coming

nder Kterm de#osits as they are re#ayable after an agreed #eriod. The interest of the de#osit is

#ayable either #eriodically 4for FDR7 or at matrity 4for G> and D07. The minimm amont acce#ted

nder this scheme is Rs. +???@& for FDR, Gber >o(ana and De#osit 0ertificate and the agreed #eriod

of de#osit shold be +8 days or more bt shold not e$ceed +? years 4+1? months7. owe!er the "ank

shall acce#t de#osits for a minimm #eriod of = days, #ro!ided the de#osit amont is Rs. +8 lakhs or

more. Frther nder 0ort Orders de#osits can be acce#ted for more than +? years.

+.2 Gber >o(ana is a scheme for Fi$ed De#osit where interest on Fi$ed De#osit is com#onded at

'arterly inter!als, #rinci#al with interest #ayable on matrity.+.3 De#osit 0ertificate is actally a Gber >o(ana and the rles are same as a##licable to Gber >o(ana

scheme. Only ma(or difference is its isse #rice will be in fraction of r#ee and the matrity !ale will

be in rond sm.

+.8 Each Fi$ed de#osit@Gber >o(ana@De#osit 0ertificate is a se#arate contract between the bank and the

de#ositor.

+.: <enerally, the longer the #eriod of term de#osit the higher is the rate of interest.

+.= Fi$ed De#osits can be acce#ted for odd amonts and for odd #eriods bt is sb(ect to the sti#lated

minimm #eriod and amont.

+.- The de#osits in the name of minors can be acce#ted for more than +? years i.e. till he@

she attains ma(ority #ro!ided the branches are otherwise satisfied to the effect that the fnds de#osited

are to safegard the interests of the minors and the branches are con!inced that it is necessary to do so.

Direction of cort@tribnal for acce#ting sch a de#osit of longer #eriod is also to be acce#ted as a

mandate by the "ank.

2 . HO $AN OPEN AN A$$O%N!

1.+ A term de#osit can be o#ened ;

a7 by an indi!idal in his own name




%$O 'AN

b7 by more than one indi!idal in the (oint name

c7 on behalf of a minor by his natral gardian or by a gardian a##ointed by cort

d7 by a minor in his@her name #ro!ided he@she has attained the age of +? years and is a literate

e7 %n the name of clbs, societies, associations, edcational instittions, trsts, firms #artnershi#s,

(oint stock com#anies, e$ectors and administrators.

1.1 A Fi$ed De#osit accont can be o#ened in the name of an illiterate #erson to be o#erated by his thmb

im#ression.

1.2 A Fi$ed De#osit accont cannot be o#ened

a7 by a minor in his own name who has not attained +? years of age

b7 %n the name of a #erson whose accont is to be o#erated nder a cross mark or signatre by the

hand of another #erson.

1.3 A Fi$ed De#osit accont can be o#ened only after the de#ositor has been #ro#erly introdced.

1.8 %t is also ad!ised by Reser!e "ank of %ndia that acce#tance of a De#osit nder instrctions from a

#erson other than a de#ositor himself or his dly constitted attorney is a !iolation of their directi!es.

. IN!ROD%$!ION OF A$$O%N!S

2.+ A Term De#osit can be o#ened only after the de#ositor has been #ro#erly introdced. %ntrodction

shold be made by a #erson well&known to the "ank@ ha!ing satisfactory condcted accont with the

bank. 0stomer identification #rocedre as laid down in G>0 norms are to be adhered to.

2.1 The introdcer shold not introdce an accont (st by mere ac'aintance with the #ros#ecti!e accont

holder. %t is essential that the introdcer shold know flly well the #ros#ecti!e accont holder whom

he is introdcing. The introdcer shold be in a #osition to identify or be able to gi!e more #articlars

abot the accont holder from his #ersonal knowledge, shold there arise any occasion at a later date.

This is to be broght to the attention of the introdcer. %n other words, it is absoltely essential for the

bank to know its cstomer before it affords to o#en Term De#osit Accont.

2.2 %ntrodction is not necessary where the de#ositor is already ha!ing an introdced accont. o fresh

introdction is necessary for renewal also. "t #articlars of sch e$isting acconts shold be entered

in introdction colmn of the a##lication form nder the athentication.




%$O 'AN

8.1 The de#ositor shold be re'ired to fill #

a7 Fi$ed and Time De#osit A##lication Form DT&1

b7 9#ecimen 9ignatre 0ard

8.2 %n case of accont of minor, declaration@#roof of date of birth of the minor shold be obtained. 4For

detailed instrctions #lease refer to KAcconts of *inors7

8.3 %n case of accont of illiterate #erson, #hotogra#h of accont holder shold also be obtained. 4For

detailed instrctions #lease refer to KAcconts of illiterate 5ersons7.

8.8 %n case of acconts of clbs, societies, associations, edcation instittions, trsts, firms, #artnershi#s,

(oint stock com#anies, e$ectors and administrators, branch shold follow the same #rocedre as is

followed in case of o#ening of crrent accont of sch bodies@ fidciaries by calling all the rele!ant

#a#ers, docments etc. 4For detailed instrctions, kindly refer to 0ha#ter K0rrent De#osits7.

8.: %n the case of accont of member or an e$&member of bank)s staff or widow of a #erson who was

formerly a member of the bank)s staff, a declaration shold be obtained to the effect that the money

de#osited in the accont belongs to the de#ositor.

8.= Accont shold be #ro#erly introdced.

8.- The Officer concerned shold ensre that Fi$ed and Time De#osit A##lication Form and 9#ecimen

9ignatre 0ard ha!e been correctly and #ro#erly filled in and signed by de#ositor. e shold #ays#ecial attention to following

a7 Accont is #ro#erly introdced

b7 Fll name and address of the accont&holder has been gi!en

c7 %n case of (oint acconts, names of all the de#ositors shold be written. owe!er, it is cstomary

to take the address of only first #erson named. "t, the signatres of all the de#ositors are to be

taken for the declaration J") 4Declaration of Hoint Accont olders, as to dis#osal of matrity

#roceeds7 and J0) 4Declaration of Hoint Accont olders, as to #rematre #ayment, #rematre

e$tension and granting of loan against de#osit7.

d7 5eriod of de#osit has been mentioned. %t is the de#ositor who has to decide the #eriod of de#osit.

Officer concerned can sggest and hel# him select the best #eriod by which he can earn the

ma$imm interest.

Note & The #eriod of de#osit for less than : months shold be e$#ressed in terms of days and : months

and o!er in terms of months.

e7 0orrect rate of interest is mentioned.




%$O 'AN

%n case of member or e$&member of bank)s staff and widow of an e$&member of staff interest

rate shold be +P higher than the a##licable rate 4For details of staff accont, #lease refer the

rele!ant clase of 9a!ings "ank accont7

f7 %n case of Hoint acconts, the instrctions abot dis#osal of fnds sch as KEither or 9r!i!or or

KHointly etc., are clearly gi!en and athenticated by (oint accont holders.

%t shold also be seen that Fi$ed and Time De#osit a##lication form as well as 9#ecimen

9ignatre 0ard ha!e been signed by all the (oint accont holders. 4For detailed instrctions,

#lease refer 0ha#ter&C/ KAccont of Hoint 5ersons7

8. a7 omination facility is a!ailable to de#ositors. "anks shold obtain se#arate nomination form

for each Term De#osit Recei#t 4TDR7. %t is irreglar and risky to add the details of TDR issed

to the de#ositor sbse'ently, in the nomination form obtained at the time of the first TDR. The

nomination form is a stattorily #rescribed docment bearing a s#ecific date and ths !alid for

the transaction4s7 co!ered on that s#ecific date as e$ected by the de#ositor. 4For details refer

the cha#ter on omination in 5art&%%%7.

b7 %n case of minor)s accont, whether self o#erated or otherwise nomination shold be made by a

#erson lawflly entitled to act on behalf of the minor.

c7 omination, can be obtained in #rescribed form DA&+ or in for JA) attached to A##lication&cm&

De#osit form 4DT&17.

8.+? %n case of (oint Acconts, as #er gidelines issed by %"A, branches may obtain from (oint

de#ositors, if they so agree, letter dly signed by all of them for o#ening a term de#osit accont, which

wold allow the bank to make #rematre #ayment or a loan against a de#osit in (oint name of

either@the former@the latter@any one or to the sr!i!or4s7. 9ch a letter where obtained is to be

considered as an integral #art of the set of accont o#ening form in res#ect of the Hoint De#osit

Accont, when signed by all de#ositors it will be legally #ermissible and !alid for the bank to allow #ayment of a loan against a term de#osit nder a discharge as #er directions in the letter of

athorisation. The (oint de#osits shold be ad!ised that sch letter when signed only hel# the in #re&

matrely encashing and raising a loan e!en withot discharge of all the Hoint De#ositors. The format of

the letter is re#rodced below




%$O 'AN

ANNE9%RE

5lace

Date To

The *anager

0O "ank

"ranch

Dear 9ir,

Re Re'est to o#en Term De#osit A@c. in or names.

%n contination of or a##lication of date to yo to o#en in or names a

A@c at yor "ranch we hereby isse and record or consent, re'est and athorisation that the "ank

may, on recei#t of a written a##lication from 9hri@9mt.

the former@latter@the first@second named ot of s or either or sr!i!or of

s or anyone of sr!i!ors or sr!i!or of s, in its absolte discretion and sb(ect to sch terms and

conditions as the "ank may sti#late and withot reference to any of the other de#ositors amongst s,

4a7 grant of loan@ad!ance against the secrity of the term de#osit held in or (oint names, or 4b7 make

#rematre #ayment of the de#osit together with interest de, to the former@the latter@the first@second

names of s.

Either or sr!i!or of s etc.

Any one of s or sr!i!or4s7

This letter is to be considered and held as an integral #art of the set of accont o#ening forms in

res#ect of or abo!ementioned de#osit accont.

>ors faithflly,

+7

17

27

4To be obtained in case the de#ositor4s7 are@is illiterate or do not know the langage of the letter7

The contents of the abo!e letter ha!e been e$#lained by me to the signatories of the letter 4*r.

7 in langage known and nderstood by them.

4 9ignatre 7

Date




%$O 'AN

8.+3 %n fact, in or "ank, three different categories of Fi$ed De#osit acconts are there.

a7 Fi$ed de#osits ha!ing a dration of less than : months.

Dration of sch Fi$ed De#osits are mentioned in Kdays and the #rinci#al and interest for the

#eriod of de#osit is #aid in lm#sm on the de date.

b7 Fi$ed De#osits ha!ing dration of : months or more bt # to +1? months.

Dration of sch fi$ed de#osits are mentioned in Kmonths and the interest on the de#osit

amont is #aid at 'arterly inter!als, whereas the #rinci#al amont is #aid on Kde date against

the remaining balance of interest de.

c7 The same ty#e of Fi$ed De#osits as described in #oint b7 abo!e, bt interest at

disconted rate #aid at monthly inter!als, whereas the #rinci#al amont is #aid on de date. 9o,

it is desirable to maintain se#arate set of Fi$ed De#osit Registers 4DT&27 for different ty#es of

fi$ed de#osits in order to ha!e a better control o!er the matter.

8.+8 "t, for Gber >o(na and de#osit certificate accont the entry will be made in newly introdced

Register&cm&Bedger 4R0B7.

8.+8.+9e#arate set of R0B is to be maintained for G> accont. R0B meant for Gber >o(na

accont may be nmbered as G>&+, G>&1 etc. Each de#osit nder G> scheme is to be entered

in se#arate folio of the R0B in chronological order.

8.+8.19imilarly, se#arate set of R0B is to be maintained for D0 acconts and entry for each de#osit

nder the scheme will be entered in se#arate folio of the R0B in chronological order.

8.+: The name of de#osits as entered into FD Register 4DT&27@R0B for G> accont or R0B for D0

Accont are also to be entered into K%nde$ Register in order of first letter of their first name.

8.+= "esides entering into fi$ed de#osit register or Register&cm&Bedger, each de#osit is to be entered first

into the res#ecti!e folio of accont o#ening registers, where each accont will be allotted with a yearlyserial no. with sffi$ of the year like ?8&?:, ?:&?= etc.

This serial nmber in addition to the #rinted nmber of the KRecei#t is to be mentioned in Fi$ed

De#osit Register@Register&cm&Bedger.

8.+- %ssance of Term De#osit Recei#ts

With effect from +1.?8.+3 two different ty#es of Fi$ed De#osit Recei#ts are in se in or "ank. One

for Gber >o(na and another for Fi$ed De#osits, bt each is ha!ing the #ro!ision on re!erse for

renewal for ten times, withot changing the recei#t i.e. there is




%$O 'AN

no need of issing a fresh recei#t at the time of each renewal. For de#osit certificate, howe!er, or FD

recei#ts bearing distinct o. DT shold be contined to be in se.

While issing KRecei#ts nder Fi$ed De#osit Accont, Gber >o(na accont or De#osit 0ertificate

accont, de care shold be taken on the following #oints.

a7 Date ++.+1.1??? shold be written as ++th December 1??? rather than ++.+1.1???. ?1@?+@1??+

shold be written as ?1nd

Hanary 1??+ rather than ?1@?+@1??+.

b7 ame ame shold be written in fll. %n case of (oint accont name of all (oint de#osits shold

be written and the mode of o#eration also stated.

c7 Rate of %nterest The rate of %nterest shold be written in words.

d7 5eriod of De#osit 5eriod of De#osit shold be written in terms of months for de#osits for

#eriod below si$ months #eriod of de#osits shold be written in terms of days instead of month.

e7 Due Date &

De date shold be correctly calclated and written. %t shold also be written as ++th

December 1??1 rather than ++@+1@1??1.

When the de date falls on 9ndays or "ank olidays, the rle is that amont is to be

#aid on the ne$t 4scceeding7 working day. Ths in sch cases scceeding working day

shold be written as de date. Frther, it has been clarified that when the de date of

de#osits falls on a holiday@non bsiness working day irres#ecti!e of the fact whether the

de#ositor seeks re#ayment on the immediately scceeding working day or later on,

interest is to be #aid for the holiday or non&bsiness working day. %nterest amont so

#ayable shold be on matrity !ale in case of in!estment de#osits whereas it shold be

on the original 5rinci#al amont in case of ordinary FDR and at contractal rate.

When the term de#osit is #laced in months, say 2 months and date of de#osit is

+1@++@1??? the de date will be +1@?+@1??3 i.e. the de date is arri!ed by, adding the

nmber of months with the month, in which the de#osit is made, kee#ing the datenchanged.

owe!er, in case where #eriod of de#osit has been e$#ressed in terms of days and not in

months the de date shold be calclated as #er the following #rocedre.

a7 0alclate the days and not months. %f Febrary has 1 days calclate 1 days.

b7 %nclde date of de#osit

c7 E$clde date of #ayment




%$O 'AN

shold be a!oided, it shold not be made near to the to# of a recei#t so as to gard against

sch a marking being cli##ed off by ctting a small #art of Recei#t.

ai7 Attem#ts shold not be made to rectify mistakes in marking by #rotectogra#h machine either

by way of sbstitting the #re!ios marking by fresh im#ression or by o!er marking in all

sch cases, a fresh recei#t shold be issed and recei#t containing incorrect markings shold

be cancelled on reference to the *anager@Asst. *anager.

8.+ The #rinted nmber and branch serial nmber as a##earing on Fi$ed De#osit Recei#t shold be

noted on the a##lication form at the s#ace in the left hand bottom side of the a##lication form.

8.1? The #articlars on conterfoil shold also be careflly filled in.

8.1+ 5articlars of Fi$ed de#osit 4bt not the G> 6 D07 shold be #osted in Fi$ed De#osit Bedger 4Form

DT&37 in the accont of de#ositor e$isting or new.

8.11 Entry shold be made in de date diary for all term de#osits i.e. FD, G> and D0 Acconts.

8.12 The FD@G>@D0 Recei#t shold be signed by two athorised officers of the branch.

8.13 "efore signing a Fi$ed de#osit recei#t the Officer4s7 shold

a7 satisfy himself that the branch has recei!ed the amont of recei#t. The a##lication form 4DT&17

shold bear K0ash Recei!ed stam# accont debited stam# dly signed by 0hief@ead cashier

athorised Officer or de#osit de#artment.

b7 Ensre that all the #articlars as mentioned in #aragra#h 8.+- ha!e been correctly filled in the

recei#t.

8.18 The conterfoil shold also be checked and initialled by concerned officer4s7.

8.1: The Officer4s7 shold also initial the #rinted and serial nmber of fi$ed de#osit recei#t noted on the

a##lication form 4DT&17 at the s#ace in its to#. This is necessary #recation to ob!iate the #ossibility of

more than one recei#t being issed against one a##lication form.

8.1= The concerned officer4s7 shold also check and initial

a7 fi$ed and time de#osit register

b7 fi$ed and time de#osit ledger

c7 de date diary

d7 Accont o#ened and closed register

e7 Register&cm&Bedger 4 in case of G>@D07

f7 %nde$ Register




%$O 'AN

8.1- The Fi$ed De#osit recei#t shold be deli!ered to de#ositor against his signatre on the re!erse of the

!ocher 4DT&17.

7 . SPOIL! FI9ED DEPOSI! RE$EIP!S

:.+ When a fi$ed de#osit recei#t form is s#oilt in #re#aration, the fact shold be noted on the relati!e

conterfoil nder the initials of a singing official. The s#oilt form shold be effecti!ely cancelled by

writing words Kcancelled thereon in red ink and by tearing off the s#ace meant for the signatres of

the signing officials and the term de#osit recei#t form shold thereafter be sta#led to the conterfoil.

: . $%S!OD# OF FI9ED DEPOSI! RE$EIP! 'OOS

=.+ Fi$ed De#osit Recei#t is secrity form. %ts recei#t from ead Office and cstody at the branch and sein de#artment shold be go!erned by the same #recation as are #rescribed for che'e book and other

secrity #rinting materials.

=.1 Fi$ed De#osit recei#ts "ook in se shold remain in the cstody of the Officer concerned in locked

bo$. %t shold be handed o!er to the clerk concerned at the commencement of the bsiness of a day.

=.2 At the end of the day, when day)s transactions are o!er, the Fi$ed De#osit Recei#t lea!es in the book

shold be !erified by actal conting by concerned officer and taken to cstody.

=.3 There is always a danger of Fi$ed de#osit recei#t leaf being srre#titiosly taken away from the book and

fradlently sed. <reat care mst, therefore, be taken in ensring that no leaf is so remo!ed. The

nmber of Fi$ed de#osit recei#t issed dring the day and the recei#t forms on hand shold be

careflly reconciled at the close of office e!ery day. The books shold be locked in a steel bo$ to be

ke#t in an almirah in the strong room.

; . FI9ED DEPOSI! RE$EIP!S

; . 1 General Gu,-el,nes

a7 The minimm amont of de#osit nder the scheme is Rs. +???@&, bt for o#tion of #ayment of

interest at monthly inter!al the minimm amont of de#osit is Rs.+?,???@&.

b7 The minimm #eriod of de#osit is +8 days.

c7 The ma$imm #eriod of de#osit is +1? months.

N' & owe!er, nder the order of cort@tribnal the #eriod of de#osit may be acce#ted beyond

+1? months.




%$O 'AN

d7 %f the #eriod of de#osit is less than si$ months, it is e$#ressed in terms of days and the entire

amont of interest is to be #aid in lm#sm at matrity.

e7 %f the #eriod of de#osit is : months and abo!e, it is e$#ressed in terms of months and at the

o#tion of the de#ositor the interest may be #aid at 'arterly@monthly inter!als.

; . 2 "o-e o Interest $al+ulat,on

-.1.+ Where the de#osit is recei!ed for a #eriod less than : months, while calclating %nterest, the

following rles shold be ado#ted

One year shold be considered as 2:8 days for the #r#ose of interest #ayment

The calclation of interest for a de#osit of Rs. +?,???@& for + days at rate of interest of

+?P #.a.

+?,??? $ + $ +? Rs. 13.2+ i.e. Rs. 13 4Ronded off to nearest r#ee7

2:8 $ +??

%nterest in sch cases is to be #aid at matrity.

-.1.1 For the Fi$ed De#osits, ha!ing a tenre of : months or more, the interest is calclating on

the basis of the following months.

%nterest is to be #aid at 'arterly inter!als.

N' & For con!enience in making #ayment, interest de for the first fraction #eriod of the 'arter

# to 2?th Hne@2?th 9e#tember@2+st December@ 2+st *arch is to be #aid on the first

working day of Hly@October@Hanary@ A#ril res#ecti!ely.

%nterest #ayable for a fll 'arter is the +@3th of interest de for a year.

%nterest #ayable for a month is the +@+1th of interest de for a year, irres#ecti!e of the

days of the month being 2?@2+@1-@1.

%nterest #ayable for a day is +@2:8th of interest de for a year.

a+ple

A Fi$ed De#osit of Rs. +?,???@& was o#ened on +?@?1@1??+ X+?P interest for a #eriod of 2:

months. The de date is +?@?1@1??3.

%nterest to be #aid on ?+@?3@1??+

4From +?@?1@1??+ to 2+@?2@1??+ ; 3 days7

+?,??? $ +? $ 3 Rs. +23.13 i.e. Rs. +23

2:8 $ +??

%nterest is to be #aid for sbse'ent ele!en 'arters. On the first working day




%$O 'AN

of Hly, October, Hanary and A#ril

+?,??? $ +? Rs. 18?.??

3

%nterest to be #aid for the #eriod +@+@?3 to @1@?3 Rs. 18? ; Rs. +23 ++:.??

Ths total interest to be #aid Rs. +28@& Q 418?$++7 Rs.1=8? Q Rs.++: Rs.2???@&

; . Ot*er For/al,t,es

-.2.+ A letter shold be obtained from De#ositor4s7 re'esting for #eriodical #ayment of interest.

%n case of Hoint De#ositors all of them shold sign the letter.

-.2.1 The signatre of the de#osit on letter shold be !erified and held in se#arate file. Those

instrctions shold be careflly recorded in Fi$ed and Time De#osit Register, Bedger and

9tanding %nstrction "ook.

-.2.2 The amont of interest #aid #eriodically shold be marked on the re!erse of Fi$ed De#osit

Recei#t@ Fi$ed De#osit Register.

-.2.3 The amont of interest #ayable #eriodically shold be credited to a 9a!ings "ank Accont of

the de#ositor.

Note &

a7 E!ery #ersasi!e effort shold be made to indce the de#ositor to o#en a 9a!ings "ank

Accont for #ayment of sch interest. b7 %n case of (oint acconts, the 9a!ings "ank accont to which interest amont is credited

shold also be o#ened in the same (oint names.

c7 %n sch cases, #ayment of interest shold be made throgh 9tanding %nstrction Register.

-.2.8 %f de#ositor insists for #ayment in cash, branch may isse him an ncrossed *anager)s

che'e, which can be encashed by him o!er the conter.

-.2.: Date of #ayment of interest shold be careflly marked in Fi$ed and time de#osit register

and register of monthly #ayment of interest on fi$ed de#osits. Officer and clerk concerned

shold be !ery carefl in this regard as omission to mark date of #ayment of interest in Register

is likely to reslt in doble #ayment of interest for that #eriod.

-.2.= As an additional #recation, it is sggested that a note shold also be made on the re!erse of

Fi$ed De#osit Recei#t for sch #eriodical #ayment of interest and dly initialled by concerned

Officer. %f the cages on the re!erse of Fi$ed De#osit Recei#ts are fond to be inade'ate, an

alonge may be attached to Recei#t. Where




%$O 'AN

interest is credited to accont of de#ositor, this re'irement may be wai!ed, as a definite record

wold be a!ailable from sch accont.

-.2.- All Fi$ed De#osit Recei#t shold in!ariably contain the #eriodicity of #ayment of interest,

amont of interest #ayable at sch #eriods or at matrity. A rbber stam# shold be #re#ared

reading as

a7 The interest is #ayable at rests

b7 The interest #ayable on this de#osit e!ery month@'arter or at matrity works ot to Rs.

-.2. Where #eriodical #ayment of interest on FDR is made by credit to de#osits accont, the

#ractice of #rodction of relati!e Fi$ed de#osit for making a note each time is not necessary.

; . 0 F,@e- Deos,t A++ounts & "ont*ly Interest at -,s+ounte- Rates

%n consltation with the Reser!e "ank of %ndia it has been decided that while banks shold calclate

interest on a 'arterly or longer inter!als or re'ired in terms of R"%)s directi!e, it wold be o#en to

#ay interest to the de#ositors on a monthly basis #ro!ided, the amont of interest #aid e!ery month is

not more than the disconted !ale of the interest for one month so that e!en if interest is allowed on

the interest so #aid, the aggregate amont 4i.e. amont of interest #aid monthly with the interest that

may accre on the amont so #aid in one month7 wold not e$ceed one month)s interest on the de#osit

calclated on a 'arterly basis.

Table of disconted monthly interest from :P to +?P has been #ro!ided herender

"ont*ly In+o/e S+*e/e

D,s+ounte- Interest on F,@e- Deos,t

( PRIN$IPAL A"O%N! DEPOSI!ED RS. 1=< )

Interest Rate "ont*ly ,nterest Interest Rate "ont*ly Interest

(K .a.) (K .a.)

:.?? ?.3=8 -.?? ?.::11

:.18 ?.8+-+ -.18 ?.::1-

:.8? ?.82-= -.8? ?.=?22

:.=8 ?.882 -.=8 ?.=12

=.?? ?.8= .?? ?.=333

=.18 ?.:??8 .18 ?.=:3

=.8? ?.:1++ .8? ?.=-83

=.=8 ?.:3+= .=8 ?.-?8

+?.?? ?.-1:3




%$O 'AN

; . 0 . 1 General Gu,-el,nes

a7 The minimm amont of the de#osit nder the scheme is Rs. +?,???@&

b7 The minimm #eriod of the de#osit is : months.

c7 The ma$imm #eriod of the de#osit is +1? months

N' & owe!er, nder the order of cort@tribnal the ma$imm #eriod may be e$tended beyond +1?

months.

-.3.1 %n case of monthly #ayment of interest, record shold be maintained in Register of *onthly

5ayment of %nterest on Fi$ed De#osit 4DT&+7.

-.3.2 All the #recations and #rocedres as to be followed for calclation and #ayment of %nterest

at 'arterly inter!als are to be followed in this case also 45lease refer 0lase -.2 abo!e7.

; . Pre/ature Pay/ent o F,@e- Deos,t Re+e,t A=+ &

-.8.+ Fi$ed De#osit Recei#t is a contract whereby de#ositor agrees to recei!e back #rinci#al

amont after a certain #eriod agreed #on at the time of making the de#osit, interest being

recei!ed either #eriodically or at matrity. owe!er, if a de#ositor re'est for #rematre

#ayment sch re'est may be acceded to.

-.8.1 o interest shall be #aid for #rematre withdrawal of Fi$ed De#osit accont, before

com#letion of +8 days.

-.8.2 The e$isting rle of #rematre re#ayment of term de#osits where the effecti!e rate of interest

#ayable to the de#ositor on #rematre withdrawal of term de#osit is the rate a##licable on the

date of de#osit for the #eriod for which the de#osit has actally remained with the bank sb(ect

to #enalty as nder

For -eos,t a/ount o Penalty

Bess than Rs. +8 lacs o #enalty

Rs. +8 lacs 6 #to Rs. + crore +P #.a.

Abo!e Rs. + crore A##licable card rate for non&incenti!e

de#osits for the #eriod of the de#osit ke#t

with the "ank will be #aid.

This #ro!ision wold also a##ly to De#osits made by staff members.

-.8.3 5rocedre for #rematre #ayment

a7 the de#ositor shold make re'est for #rematre #ayment in writing. %n case of

(oint acconts, sch re'ests shold be signed by all the de#ositors, nless a letter as #er

Anne$re to item no. 8.+- signed by all the (oint de#ositors was taken at the time of

o#ening the accont.




%$O 'AN

The de#ositor a##roached the "ank with a re'est to close the accont before matrity on th

Hanary 1??=.

The de#osit remained with the "ank from 1?.?3.1??8 to ?-.?+.1??= i.e. for a #eriod of 1?

months 1? days. The interest rate a##licable is that #ayable for the matrity #eriod J+ year 6

abo!e to less than 1 years) on the date of o#ening of the accont which was 8.=8P #.a. Frther,

as the amont is less than Rs. +8 lakhs, no #enalty is a##licable and the effecti!e rate will be

8.=8P. ence, the actal interest #ayable on the de#osit is

+?,??? $ 1? $ 8.=8 Q +?,??? $ 1? $ 8.=8 .8-.22 Q 2+.8+ -.-3

+1 $ +?? 2:8 $ +??

or Rs. ? 4after ronding to nearest r#ee75rinci#al Amont 5ayable Rs. +????

%nterest Amont 5ayable Rs. ?

Total Amont 5ayable on 5rematre 0losre Rs. +??

Bess %nterest Amont 5aid Rs. ++?2

"alance Amont to be 5aid Rs. --=

E@a/le<III 4Fi$ed De#osit where interest is #aid at monthly inter!al7

A Fi$ed De#osit of Rs. +?,??? was issed for +1? months on +?.?3.1??? X+?P #.a. The

de#ositor o#ted to recei!e interest at monthly inter!al. 9o at disconted rate he is to recei!e

interest XRs. -1.:3 or Rs. -2 #er mensem. The interest #aid to the de#ositor is as gi!en below

Interest Pa,- or t*e Per,o- A/ount Pa,-

For 1+ days in A#ril 1??? Rs. 8-

From *ay 1??? to Agst 1??: 4=: months7 Rs. :2?-

Total Amont 5aid Rs. :2::

On +?th 9e#tember 1??: the de#ositor a##roached for #rematre closre of the accont. The

de#osit had remained with the "ank for a total #eriod of == months. Rate of interest rling on

the date of De#osit for the #eriod of == months is that a##licable for JAbo!e 2 years) which is

+?P #.a. As the amont is less than Rs. +8 lakhs, no #enalty is a##licable and the effecti!e rate

of interest will contine to be +?P #.a., the rate a##licable for a de#osit of == months as on the

date of o#ening of accont.

Amont of 5rinci#al 5ayable Rs. +????

Amont of interest #ayable for == months Rs. :2+

Total Amont 5ayable Rs. +:2+

Amont already #aid as interest Rs. :2::

"alance Amont to be #aid Rs. +??18




%$O 'AN

Note & In all t*e a3o4e e@a/les5 or -eos,t a/ount o Rs. 1 laB*s uto Rs. 1 $rore5 enalty

o 1K .a. 6,ll 3e al,e- to arr,4e at ee+t,4e rate o ,nterest an- +o/utat,on o

,nterest aya3le s*all 3e /a-e a++or-,ngly. For a/ount a3o4e Rs. 1 $rore5 non,n+ent,4e -eos,t rate or t*e er,o- t*e -eos,t re/a,ne- 6,t* t*e 'anB 6,ll 3e a,-.

; . 7 Pay/ent o F,@e- Deos,t A++ount

I/ortant Note &

a7 The Fi$ed De#osit Recei#t, dly discharged by the de#ositor4s7 itself shall be treated as Debit

!ocher, debiting FD Accont.

b7 9ignatre4s7 of de#ositor4s7 is to be in!ariably !erified with that in the s#ecimen card before

making #ayment.

c7 Ad(stment 4if any7 towards the interest already #aid 4as illstrated in foregoing e$am#les7 is to

be made if the #ayment if claimed before matrity.

d7 The debit !ocher, debiting K%nterest 5aid accont has to be signed (ointly by the officer&in&

charge of de#osit de#artment and 9r. *anager@*anager of the branch "oth the officials

inde#endently shold check the accracy of the interest amont so #aid.

e7 5ayment is to be roted throgh 9"@0rrent accont. %n case no sch accont is there *anager)s

0he'e is to be issed in fa!or of the de#ositor.

f7 %n e$ce#tional circmstances, #ayment across the conter may be made throgh ncrossed

*anager)s che'e.

g7 When the fi$ed de#osit is ke#t nder "ank)s lien, the matrity #roceeds is to be credited to the

concerned loan accont.

; . 7 . 1Pass,ng o 4ou+*ers or ay/ent o F,@e- Deos,ts

a7 Debit FD Accont 4the recei#t itself will be treated as the !ocher7

b7 Debit interest #aid 4FD7 4For the balance amont of interest #ayable at the time of final

#ayment7

c7 0redit the accont of de#ositor

-.:.1 5assing of !ocher for #ayment of Fi$ed De#osit before matrity where e$cess amont hasalready been #aid by way of interest.

a7 Debit FD Accont 4the recei#t itself will be treated as the !ocher7

b7 0redit %ntt. 5aid 4FD7 4For the e$cess amont of intt. already #aid7

c7 0redit the accont of de#ositor 4for the balance amont7

; . 7 . Ot*er For/al,t,es

a7 5ayment of FD is to be athorised by the Officer&in&charge of De#osit De#tt.

b7 Date of #ayment is to be marked in the concerned register nder initial of officer

concerned.




%$O 'AN

c7 The #articlars and #rinci#al amont of FD is to be entered in the FD ledger, with

remarks the amont of interest #aid thereon, nder initial of the officer concerned.

d7 The s#ecimen signatre card shold be cancelled and taken ot to be ke#t in se#arate file.

e7 Entries regarding closre shold be made in Accont O#ening and 0losing Register, De

date diary and %nde$ Register.

; . : 8uarterly Pro4,s,on o Interest on F,@e- Deos,t A++ounts

-.=.+ Fi$ed de#osit for a #eriod less than : months.

%n this cases interest is to be #ro!ided from the date of de#osits to the last day of the 'arter, for

which interest is to be #ro!ided for. %nterest in these cases is calclated on day basis atcontractal rate.

-.=.1 Fi$ed De#osit for a #eriod : months and abo!e with o#tion to #ay interest at 'arterly

inter!al

a7 When the de#osit is recei!ed on any day dring the 'arter, for which #ro!ision is to be

made, interest is to be #ro!ided from the day of de#osit to the last day of the 'arter on

day basis at contractal rate.

b7 %n case of all other FD nder this category, interest #ro!ision is to be made for one 'arter

only, becase interest till the last 'arter mst ha!e been credited to the de#ositor)saccont.

-.=.2 Fi$ed De#osits for a #eriod : months and abo!e with o#tion to #ay interest at monthly

inter!al

a7 When the de#osit is recei!ed on any day dring the last month of the 'arter, for which

#ro!ision is to be made, interest is to be #ro!ided from the day of de#osit to the last day

of the month on day basis at contractal rate 4disconted7

b7 %n case of all other FD nder this category, interest #ro!ision is to be made for one month

only at contractal rate 4disconted7, becase interest till the last month mst ha!e been

credited to the de#ositor)s accont.

; . : . 0 Pass,ng o Vou+*ers

For the #r#ose of #ro!ision, the following !ochers are to be #assed

Debit %ntt. 5aid 4FD7

0redit %ntt. Accred 6 5ayable 4FD7

On the ne$t working day, it is to be re!ersed as follows

Debit %ntt. Accred 6 5ayable 4FD7



0redit %ntt. 5aid 4FD7




%$O 'AN

C . %'ER #ONA AND DEPOSI! $ER!IFI$A!E

C . 1 General Gu,-el,nes

a7 The minimm amont of de#osit is Rs. +???@& for KGber >o(na Acconts.N' & %t is desirable to acce#t amont of de#osit in G> accont in mlti#le of Rs.+??@&bt in

e$ce#tional circmstances G> recei#ts can be issed for odd sms also.

b7 The matrity !ale of De#osit 0ertificate Acconts shold be Rs. +???@& at minimm or

mlti#le thereof abo!e that

c7 The minimm #eriod of de#osit is : months.

d7 The ma$imm #eriod of de#osit is +1? months.

N' & Ho6e4er5 un-er t*e or-er o +ourt=tr,3unal t*e /a@,/u/ er,o- o -eos,t /ay 3e

e@ten-e- 3eyon- 12 /ont*s.

e7 %nterest is com#onded nder the schemes at 'arterly inter!als.

f7 The total amont of interest is #aid at matrity.

g7 "oth the head of acconts are known as 0mlati!e Fi$ed De#osit 40FD7 Acconts.

C . 2 Deter/,n,ng t*e /atur,ty 4alue un-er u3er #o?na S+*e/e

The master chart is to be followed to arri!e at the figre.

*+am,le A sm of Rs. +?,???@& was de#osited on +?@=@1??? for 2: months at an interest rate of +?P

#.a. The de date is +?@?=@1??3. As #er *aster 0hart, a de#osit of Rs. +??@&earns an interest amont of

Rs. 23.3-- at +?P rate after 2: months.

For Rs. +?,???@& the interest amont will be Rs. 233-.- Rs. 233.?? 9o, the

matrity !ale Rs. +?,???@& Q Rs. 233@& Rs. +2,33@&

C . Deter/,n,ng t*e Fa+e Value (In,t,al Deos,t o Deos,t $ert,,+ate)

*+am,le A de#ositor a##roached "ank on +?@?=@1??? to de#osit certain amont for 2: months, so

that he wold get Rs. +?,???@& at matrity. The rate of interest #re!ailing on that day for a #eriod of 2:

months was +?P #.a.

As #er *aster, 0hart, a de#osit of Rs. +??@& will earn an interest of Rs. 23.3-- after 2: months at +?P

rate. Ths, the matrity !ale will be Rs. +??@& Q Rs. 23.3-- Rs. +23.3--

Putt,ng ,t ,n ot*er6ay &

Rs. +23.3-- is the matrity !ale for Rs. +??.??

Re. + is the matrity !ale for Rs. +??.??

R s +23.3--

Rs. +?,??? is the matrity !ale for

+?? $ +?,??? Rs. =328.8:

+23.3--i.e. Rs. =32:

%t means, he has to de#osit Rs. =32:@& to get Rs. +?,???@& after 2: months at +?P rate. Ths, the face

!ale of De#osit 0ertificate will be Rs. =32:.??.




%$O 'AN

C . 0 "a,ntenan+e o 'ooBs

.3.+ At the time of o#ening of a new accont nder Gber >o(na or De#osit 0ertificate 9cheme,

all the de#osits abot the de#ositor and the de#osits !iz. ame, address, tele#hone nmber, other term de#osits held at the branch, 9"@0rrent Accont mber and amont of de#osit, rte of

interest, #eriod of de#osit, date of matrity etc. are to be mentioned in Register&cm&Bedger

4R0B7.

.3.1 Each folio of the R0B is to be sed for one de#osit accont only.

.3.2 The amont of de#osit is to be entered in the R0B folio nder athentication of concerned

s#er!isory staff, who will also cancel the credit !ocher simltaneosly.

.3.3 The name of the de#ositor is to be entered in K*aster %nde$ Register as #er the +st letter of

first name of the de#ositor.

.3.8 Entry shall also be made in Accont O#ening and 0losing Register before entering in R0B

in order to get the Accont nmbers for the de#osit.

C . 8uarterly Pro4,s,on o Interest

.8.+ 5ro!ision of interest shall be calclated at the end of each 'arter i.e. on 2?th Hne, 2?th

9e#tember, 2+st December and 2+st *arch e!ery financial year.

.8.1 %nterest for a broken #eriod of a 'arter is to be calclated on Kday basis e.g.

A G> de#osit of Rs. +?,???@& was recei!ed on +?th A#ril 1??2. The rate of interest

a##licable was :P #.a. The de#osit remained with the bank for -1 days till 2?@:@1??2. %nterest

accred till 2?@?:@1??2.

+??? $ : $ -1

Rs. +23.=+?? $ 2:8

Rs. +28@&

.8.2 Thereafter, at the end of sbse'ent fll 'arter, interest is to be calclated by the hel# of *aster

0hart.

e.g. Amont held inclsi!e of interest at the end of 2?@?:@1??2 Rs. +?,??? Q %nterest Accred

Rs. +28@& Rs. +?,+28@&

For 2 months X:P #.a. for a de#osit of Rs. +??@&, interest accres Rs. +.8? 49ee *aster chart7

Ths, for Rs. +?,+28@&, %nterest shall accre

W +.8? $ +?,+28 Rs. +81@&+??

%t means, interest for the abo!e de#osit shall be #ro!ided for on 2?@?@1??2 Rs. +81

Q Rs. +28 Rs. 1-=@&

%nterest #ro!ision on 2+@+1@1??2

At the end of 2?@?@1??2, the total amont inclsi!e of interest in the abo!e accont wold be

Rs. +?,???@& Q Rs. 1-=@& Rs. +?,1-=@&




%$O 'AN

Additional interest that will accre for the 'arter

+.8? $ +?,1-= Rs. +83@&

+??Total amont of interest to be #ro!ided for on 2+@+1@@1??2 Rs. +28@& Q Rs. +81@& Q Rs. +83@&

Rs. 33+@&

%nterest #ro!ision on 2+@?2@1??3

At the end of 2+@+1@1??2 the total amont inclsi!e of interest in the abo!e accont wold be

Rs. +?,??? Q Rs. 33+ Rs. +?,33+@&

Addl. interest that will accre for the 'arter

W Rs. +?,33+ $ +.8? Rs. +8=@&

+??Total amont of interest to be #ro!ided for on 2+@?2@1??3 Rs. +28 Q Rs. +81 Q Rs. +83 Q Rs.

+8= Rs. 8-.

.8.3 The #ro!ision amont may be written in "alance book or in a se#arate #ro!ision register.

C . 7 $re-,t,ng ,nterest to t*e a++ount

On 2+st *arch e!ery year, the interest amont calclated as abo!e shall be credit to the amont in

R0B.

N' & %ncome Ta$, where!er a##licable as #er TD9 rle of %ncome Ta$ Act, +:+ is to be dedcted

from the accont at this stage.

For details, #lease refer the 0ha#ter, KTa$ Dedction at 9orce on interest on Time De#osit.

C . : Vou+*,ng or Interest Pro4,s,on

.=.+ At the end of each 'arter e$ce#t 2+st *arch the following !ocher will be #assed for

interest #ro!ision.

Dr. 0FD 4%nterest7 Accont For the entire balance otstanding in the ead of

Accont

0r. %ntt. 5aid 40FD7 Accont For the like amont

After #assing the two KTransfer /ocher the balance in 0FD 4%nterest7 Accont will be redced

to %B.

Thereafter, the total amont of interest, that will be #ro!ided for all the 0FD acconts at the end

of the 'arter is to be fond ot and the ndernoted !ochers

are to be #assed.

Dr. %ntt. 5aid 40FD7 For the entire amont of #ro!ision

0r. 0FD %ntt. Accont For the like amont




%$O 'AN

Date Part,+ulars Dr. $r. 'alan+e

+?@?2@1??2 "y Tr. +?,??? +?,???

2+@?21??2 "y %ntt. 2- +?,?2-

2+@?2@1??3 "y %ntt. :31 +?,:-?

%nterest accred till 2+@+1@1??3 amonting to Rs. 8?-@& mst ha!e been credited to 0FD %nterest

Accont. The balance amont of interest i.e. from ?+@?+@1??8 to ?@?2@1??8, amonting to Rs.

+22@& is to be #aid at matrity. On the date of #ayment, say on +?@?2@1??8, the following

!ochers are to be #assed.

Stage<I &

Dr. 0FD %nterest Accont Rs. 8?-@&

4The amont of #ro!ision is to be confirmed from

5ro!ision Register7

Dr. %ntt. 5aid 40FD7 Accont Rs. +22@&

0r. De#ositor)s 0FD accont in R0B Rs. :3+@&

Stage<II &

Dr. De#ositor)s 0FD accont Rs. ++,21+@&

0r. De#ositor)s 9"@0rrent Accont Rs. ++,21+@&

Or *anager)s 0he'e Accont

Pro+e-ure &

+7 At matrity, the de#ositor shall ha!e to de#osit the G> recei#t@De#osit 0ertificate dly

discharged on the re!erse by the de#ositor@all the de#ositors.

17 The Officer concerned shall ha!e to !erify the signatre4s7 of the de#ositor as #er

the s#ecimen signatre recorded in the "ank)s s#ecimen signatre card at the time of o#ening

the accont.

27 The Debit !ocher, debitting 0FD %nterest accont and %ntt. 5aid 40FD7 Accont are to be

signed by the Officer&in&charge of the de#artment and are to be contersigned by the

*anager@9r. *anager of the "ranch.

37 All the !ochers, crediting De#ositor)s 0FD accont is to be entered in the concerned folio of

R0B and be dly released.

87 After making #ayment, the balance in the accont will be redced to %B.

:7 A rbber stam# reading KAccont 0losed is to be affi$ed at the bottom of last transaction with

signatre of Officer concerned with de mention of date of closre on the folio.




%$O 'AN

=7 A total of JDebit) and J0redit) colmn is to be made at the end showing the sm total of both

tallies.

-7 At the time of closre of accont, necessary entry is to be made in KAccont O#ening 6 0losre

Register.

C . ; . 2 Pre/ature 6,t*-ra6al or Fore+losure o $FD A++ount

The de#ositors are at liberty to re'est for closing their 0FD Acconts before the date of

matrity nder e$igencies. owe!er, #rematre withdrawal of large term de#osits (Ruees one

+rore an- a3o4e) has the following restrictions.

Pre/ature 6,t*-ra6al o large ter/ -eos,ts re+e,4e- as res* -eos,t

ro/ 1;==21 on6ar-s or re+e,4e- as rene6al o e@,st,ng large ter/ -eos,ts

ro/ 10==21 on6ar-s 6,ll not 3e allo6e- un-er any +,r+u/stan+es5

e@+et or s,/,lar -eos,ts *el- 3y ,n-,4,-uals an- H%F.

Pro+e-ure &

The de#ositor4s7 shall sbmit the "ank, the discharged G> Recei#t@De#osit 0ertificate 4to be

discharged by the signatre of de#ositor4s7 on the re!erse of the recei#t@ certificate with narration

KRecei!ed 5ayment by Fore&closre7 along with an a##lication re'esting for #rematre withdrawal

citing the con!incing reason for sch re'ests. Their signatres on the a##lication as well as on the

recei#t@certificate are to be !erified by the Officer concerned with that of K9#ecimen 9ignatre 0ard

a!ailable at "ank)s record. %n consideration of the re'est the *anager of the branch may accord his #ermission for sch #rematre closre.

General Gu,-el,nes &

a7 The rate of interest #ayable will be the a##licable rate of interest as was #re!ailing at the time of

de#ositing the amont for the #eriod it actally remained with the "ank sb(ect to #enalty clase

as nder

For -eos,t a/ount o Penalty

Bess than Rs. +8 lacs o #enalty

Rs. +8 lacs 6 #to Rs. + crore +P #.a.

Abo!e Rs. + crore A##licable card rate for non&incenti!e

de#osits for the #eriod of the de#osit ke#t

with the "ank will be #aid.

ll/strat!on

A de#ositor de#osited a sm of Rs. +,??,???@& on ?1.?1.1??3 for :? months. The de date is

?1.?1.1?? and rate of interest a##licable is 8.=8P #er annm. The said de#ositor re'ested the branch

to foreclose the accont on ?1.?+.1??=. Ths, the de#osit actally




%$O 'AN

‰ At the time of closre of accont, smmation of KDebit and K0redit colmns shold be

made on R0B folio to ensre that both the totals tally with each other.

‰ At the bottom of the folio, the officer concerned shold affi$ a rbber stam# which wold

read as KAccont closed on dt. with signatre of officer concerned.

‰ ecessary entry mst be made in KAccont O#ened 6 0losed Register.

1 . PRE"A!%RE E9!ENSION OF FI9ED DEPOSI!S (FD5 #5 D$)

The de#ositor may e$ercise his o#tion to e$tend the #eriod of de#osit and when "ank accedes to his

re'est, the #rocess is known as K5rematre e$tension of fi$ed de#osit. The sitation sally arises

when there is a hike in the rate of interest on de#osit at a sbse'ent date.

1 . 1 Rules

a7 The re'est for #rematre e$tension is to be made before the date of matrity

of original de#osit.

b7 The #eriod of e$tension re'ested for mst be longer than the remaining #eriod of original

contract.

c7 The interest from the original date of de#osit to the date, #receding to the date of effecting

e$tension is to be #aid at the rate, as a##licable on the date of original de#osit for the rele!ant

#eriod withot a##lying the #enalty of +P.

d7 o fresh fi$ed de#osit recei#t needs to be issed, rather sitable noting in bold letter and red ink

is to be made on the original recei#t.

e7 The new interest rate as wold be a##lied for e$tended #eriod shall not get retros#ecti!e effect

to the date of re'est for e$tension.

1 . 2 Pro+e-ure

a7 The de#ositor4s7, irres#ecti!e of s#ecial instrction like Keither or sr!i!or etc. has 4ha!e7 to

re'est for #rematre e$tension on a #lain #a#er stating e$actly the e$tended #eriod re'ested

for.

b7 The signatre of the de#ositor4s7 is to be !erified with that recorded in the s#ecimen signatre

card obtained at the time of o#ening the accont.

c7 The de#ositor4s7 shall ha!e to de#osit the original recei#t@certificate along with the re'est letter.

d7 5ermission for #rematre e$tension shall be granted by the 9r. *anager@*anager of the branch

on the a##lication itself.




%$O 'AN

recei#ts. 0arefl en'iries as to lien etc. shold be made when a branch is re'ested to isse

a d#licate recei#t.

%f the *anager is satisfied that the recei#t is irretrie!ably lost and the bank)s interest is otherwise safe

in issing a d#licate recei#t, he may athorise to isse a d#licate recei#t by writing on the letter

KD#licate Fi$ed De#osit@Gber >o(na Recei#t@De#osit 0ertificate may be issed.

++.: An indemnity bond as #er s#ecimen gi!en below shold be obtained dly e$ected by de#ositor4s7.

o srety may be called for.

Proor/a o In-e/n,ty 'on- to 3e o3ta,ne- ro/ t*e

-eos,tor(s) or ,ssuan+e o a -ul,+ate

!er/ Deos,t Re+e,t

To

The *anager

0O "ank

"ranch Date

Dear 9ir,

Re Term De#osit Recei#t o. dated for Rs.

in fa!or of

de on

+7 %@we was@were ntil recently in #ossession of the abo!ementioned Term De#osit Recei#t issed by yo

in my@or fa!or.

17 %@we regret to inform yo that the said de#osit recei#t has been lost and %@we ha!e not been able to

trace the same in s#ite of a diligent search for the same.

27 %@we state that %@we ha!e not created any right or interest or lien against the said recei#t or in the debt

re#resented by it, in fa!or of any #erson whomsoe!er.

37 %@we frther state that the said Term De#osit has not been seized or taken #ossession of or deli!ered to

any <o!ernment athorities or a Recei!er.

87 %@we ha!e re'ested yo to isse a d#licate Term De#osit Recei#t in lie of the

abo!e&mentioned recei#t which has been lost and to treat the original Term De#osit

Recei#t as in!alid and cancelled. >o ha!e agreed to accede to my@or abo!e re'est in

good faith on the strength of my@or abo!e re#resentation and assrances and on my@or sbmitting to

yo indemnity, ndertaking and athority as herein a##earing.

:7 %n consideration of the #romises, %@we so as to bind myself@orsel!es and my@or




%$O 'AN

heirs e$ectors, administrators, assigns, estates and effects hereby agree and ndertake with yo, yor

sccessors and assigns as nder

a7 to kee# yo safe and indemnified from time to time and at all times from and against all claims,

demands, actions, #roceedings, loss, damages, liability, costs, charges and e$#enses whatsoe!er,

which may be made or broght or commenced against yo or to be #aid, sstained, sffered or

incrred by yo howsoe!er as conse'ence directly or indirectly of yor ;

issing to me@s d#licate term de#osit recei#t as aforesaid.

treating the original of the abo!e&mentioned term de#osit recei#t as good as in!alid and

cancelled.

making #ayment on matrity or before matrity of the relati!e de#osits and allowing

credit or 'asi credit facilities against the d#licate term de#osit recei#t.

b7 to gi!e yo fll and final discharge and ac'ittal as against me@s and assigns or holders of the

original term de#osit recei#t, if any, on yor #ayment of the de#osit against the d#licate Term

de#osit recei#t treating the #ayment as made against the original Term De#osit Recei#t itself.

c7 to #ay to yo and make good on demand by yo the amont of sch loss, damage, liability, costs

charges and e$#enses together with the interest at 5BR rate of the "ank from the date of

#ayment by yo ntil reimbrsement by me@s.

d7 to retrn to yo the original Term De#osit Recei#t as aforesaid shold the same be fond by

me@s or again come into my@or #ossession, at any time hereafter.

>ors faithflly,

+7 17

ame ame

Address Address

9ignatre 9ignatre

++.= The indemnity bond and all other letters shold be #reser!ed careflly in a file in the "ranch.

++.- When a d#licate Term De#osit Recei#t is issed, it mst be identical with the original




%$O 'AN

1 2 . 2 Pro+e-ure or transer o a++ounts (FD=#=D$)

+1.1.+ *en t*e -eos,tor aroa+*es transeree 3ran+*

a7 A letter of re'est is to be obtained in d#licate signed by all the de#ositors

addressed to the transferor branch. The #arty shold be asked to de#osit the term de#osit

recei#t along with the letter. A s#ecimen signatre card with o#erational instrctions

shold also be obtained by the transferee branch.

b7 The letter with the Term De#osit Recei#t and the s#ecimen signatre card shold be sent

to the transferor branch by Registered 5ost with a forwarding letter.

+1.1.1 *en t*e +usto/er aroa+*es t*e transeror 3ran+*

The cstomer has to gi!e a letter of re'est along with the term de#osit recei#t to the transferor

branch. A new set of AOF in Form DT&1 along with s#ecimen signatre card with o#erational

instrction shold be taken.

+1.1.2 *at ,s to 3e -one at t*e !ranseror 'ran+* on Re+e,t o a Re>uest o !ranser

4whether directly or throgh transferee branch7

a7 the officer concerned shold !erify the signatre4s7 of the de#ositor4s7 on the letter of

re'est and #t his initial within the K9ignatre /erified 9tam#.

b7 The signatre on the new set of s#ecimen signatre card and o#erational instrctions

shold also be checked by the officer concerned. Then, he shold #t his signatre on the

s#ecimen card for ha!ing !erified the same with the original.

c7 On the face of the term de#osit recei#t, the words, KTransferred to

"ranch on dt. shold be marked in red ink and signed by two officers.

d7 The interest for the fll month in which transfer is taking #lace will be borne by the

transferor branch irres#ecti!e of the date of transfer. 9ch interest shold be #ro#erly

calclated and the following entire shold be #assed.

i7 De3,t Fi$ed 6 Time De#osit A@c@Gber >o(na A@c@De#osit 0ertificate A@c

ii7 De3,t 0FD %nterest A@c 4for the interest #ro!ided # to the end of #re!ios

'arter in case of 0FD A@c7

iii7 De3,t %nterest #aid 40FD7 A@c 4for the rest amont of interest for 0FD

acconts

Or

De3,t %ntt. 5aid 4other than 0FD7 A@c. in case of Fi$ed De#osit A@c.




%$O 'AN

i!7 $re-,t Hea- O,+e A++ount or t*e a/ount (,M,,M,,,)

e7 %n case of Fi$ed De#osit Register the date of transfer shold be marked nder the colmn

KDate of 5ayment with a remark KTransferred to

"ranch.

f7 %n the Term De#osit Bedger, the last entry shold be made in the following form KTo

amont transferred to branch.

The accont shold be smmated and closed and following stam# shold be im#ressed at

the end of the #age nder the signatre of officer and clerk concerned

Accont closed ..................... by

Transferred to ........................ "ranch

On .............................................

Asst. *anager 0lerk

g7 A note abot transfer of accont shold be made nder signatre of officer concerned in

KAccont O#ened and 0losed Register, KDe Date Diary, K9#ecimen 9ignatre 0ard.

The original s#ecimen signatre card shold be ke#t in a se#arate file and the new set

shold be sent to the transferee branch after !erification and noting on the same as

follows KTransferred to "ranch

h7 A credit Ad!ice in form <&3 or <&+2 for the amont so transferred to transferee branch

shold be #re#ared.

i7 %"0 for the abo!e amont shold be #re#ared and sent by Registered 5ost to transferee

"ranch along with

D#licate set of AOF 4DT&17

Fresh s#ecimen signatre card

Term De#osit Recei#t4s7

0redit Ad!ice as mentioned in 4h7 abo!e

A statement of accont in case it is a 0FD Accont

A statement of interest already #aid on the de#osit shold also be sent to the

transferee branch, in case it is a Fi$ed De#osit Accont.

+1.1.3What is to be done at the Transferee "ranch 4on recei#t of credit ad!ice, %"0 etc.7

a7 The docments recei!ed along with the branch che'e shold be scrtinised by officer

concerned.




%$O 'AN

b7 The following entries shold be #assed

De3,t ead Office accont

$re-,t Fi$ed de#osit 4for 5rinci#al amont only7@Gber >o(na@De#osit 0ertificate

Accont 4for the last amont shown in R0B of Transferor branch7

$re-,t 0FD %nterest Accont 4for G>@D07

c7 An entry shold be made in accont o#ened and 0losed Register and this new 9l. o. is

to be written on the Recei#t after ronding off the old 9l. o. of transfer branch.

d7 %n the term de#osit register and ledge entries shold be made and a note shold be made

in the remarks colmn of the register and at the to# of the ledger folio as follows

KTransferred from branch on

and sch a note shold be signed by the officer of the transferee branch.

e7 A carefl note shold be made of interest already #aid at the transferor branch, in the

remark colmn. This will be a##licable in those cases where #eriodical #ayment of

interest has been made.

f7 An entry shold be made in De Date Diary.

g7 The rbber stam# bearing the name of the transferee branch shold be affi$ed on the to#of the recei#t after ronding off the name of the transferor branch.

h7 The original term de#osit with remarks KTransfer Recei!ed on

shold be handed o!er to the de#ositor against #ro#er identification.

1 . RENEAL OF !ER" DEPOSI!S (FD=#=D$)

On the date, instead of asking for #ayment of Term de#osit, the de#ositor4s7 may like to contine to

kee# the amont with the "ank in sha#e of term de#osit for a frther #eriod. 9ch a transaction is

known as Krenewal of term de#osit.

1 . 1 Rules

a7 KRenewal of term de#osit is made on the de date at the re'est of the de#ositor or all the

de#ositors 4in case of (oint acconts irres#ecti!e of s#ecial instrction like Keither or sr!i!or

etc.7

b7 Renewal can be made for the entire matrity !ale or for the #rinci#al amont only or e!en for a

mont less than the #rinci#al amont, originally de#osited, as #er the o#tion of the de#ositor.




%$O 'AN

c7 The de#ositor4s7 has to sbmit a #lain #a#er a##lication for sch renewal as #er the #roforma

frnished herender. The letter need not be sbmitted in #erson. E!en, the de#ositor4s7 can send

the letter throgh a messenger.

d7 The a##lication for renewal mst be accom#anied by the matred Term De#osit Recei#t.

e7 o term de#osit can be renewed for less than +8 days 4i.e. the minimm #eriod for which a term

de#osit accont can be o#ened7.

Proor/a o Letter re>uest,ng rene6al o !er/ Deos,t

Date

The *anager0O "ank

"ranch

9ir,

9b Renewal of my FD@G>@D0 o. date

matring on dt.

Gindly, renew the abo!e term de#osit of mine@ors, held at yor branch for a frther #eriod of

days@months for the fll matrity !ale@for the #rinci#al amont only@for Rs.

4R#ees 7 only. %@We am@ are

enclosing the term de#osit recei#t for doing the needfl.

5lease credit the interest amont@balance amont to my@or 9"@0rrent accont o.

>ors faithflly,

;

;

;

Deos,tor(s)

Note & "ranches shold kee# sfficient stock of abo!e a##lication forms for the se of the de#ositors.

o de#ositor shold be #t to incon!enience de to want of a##lication form.

1 . 2 Pro+e-ure &

a7 On recei#t of the a##lication and the matred term de#osit recei#t, the officer&in&charge shall

!erify the signatre on the a##lication with that recorded on the original s#ecimen signatre

card.




%$O 'AN

b7 Vou+*,ng

For #=D$

Dr. the amont held in 0FD accont in R0B Dr.

0FD %ntt. Accont

49mmation of both the abo!e debit amonts shold tally with the matrity !ale of the

recei#ts7

0r. G>@FD Accont 4when the entire matrity !ale is renewed7 Or,

alternately

0r. G>@D0@FD Accont 4for the amont the de#ositor o#ts to renew7 0r.

De#ositor)s 9"@0rrent accont 4for the balance amont7

For FD A++ount (or,g,nal er,o- o -eos,t ,s less t*an 7 /ont*s)

Dr. FD Accont

Dr. %ntt. 5aid 4other than 0FD7 Accont ; FD

4for the amont of interest #ayable at matrity7

0r. FD Accont 4for the fll amont of matrity !ale7 Or

alternately

0r. FD Accont 4for the amont the de#ositor o#ts to renew7 0r.

De#ositor)s 9"@0rrent accont 4for the balance amont7

For FD A++ount (6*ere ,nterest ,s aya3le at /ont*ly=>uarterly ,nter4als)

As a first ste#, the balance amont of interest #ayable on original term is to be #aid at matrity

lea!ing the #rinci#al amont intact in the FD accont.

Dr. FD Accont 4for the #rinci#al amont of original term de#osit7 0r. FD

Accont 4for the amont the de#ositor o#ts to renew7

0r. De#ositor)s 9"@0rrent Accont 4for the balance amont7

Note & The abo!e Debit and 0redit !ochers are to be #re#ared in sal credit and debit !ocher

4<&++ and <&+17.

c7 In+ororat,on ,n t*e e@,st,ng F,@e- Deos,t Re+e,t

With introdction of new secrity #rinting for Gber >o(na Recei#t and Fi$ed De#osit Recei#t,

no fresh recei#t needs to be issed in case of renewal. Each original recei#t has #ro!ision of

being renewed for ten times.

All the #articlars like 4i7 date of renewal 4ii7 date from which it takes effect 4iii7 amont of

renewal 4i!7 rate of interest 4!7 matrity !ale and 4!i7 de date etc. are to be mentioned on the

re!erse of the recei#t, which is to be athenticated by the officers concerned.




%$O 'AN

d7 Issuan+e o Fres* Re+e,t &

9ince or De#osit 0ertificate has not ndergone any change, it is re'ired to isse a fresh

KDe#osit 0ertificate in case of renewal.

Fresh recei#ts are also re'ired to be issed when the original recei#t was G> and the

de#ositor wishes to get a Fi$ed De#osit Recei#t by way of renewal or !ice !ersa.

Fresh recei#ts is also to be issed in case the renewal is done for ++th time.

e7 Entry ,n Reg,ster=Le-ger

9o far as the entry of renewed de#osit accont in "ank)s Accont O#ening Register@Fi$ed

De#osit Register@Register&cm&Bedger of 0FD Acconts is concerned, it is to be done with allmeticlosity as re'ired for a fresh de#osit.

Entry and marking the date of #ayment etc. shold be made in the res#ecti!e ledger, register and

accont o#ening and closing register as re'ired for reglar closre of accont.

1 0 . RENEAL OF OVERD%E !ER" DEPOSI!S (FD=#=D$)

When a term de#osit was neither #aid to the de#ositor nor renewed for a fresh term, the de#osit

becomes o!erde term de#osit. The de#ositor may a##roach the "ank to renew the de#osit after the

de date. %n sch a case, the o!erde de#osit can be renewed sb(ect to following terms and

conditions.

+3.+ %n case the o!erde #eriod does not e$ceed +3 days on the date of re'est for renewal the interest

rate for the renewed #eriod will be the rate, #re!ailing on the date of matrity and the renewed de#osit

shall take effect from the date of matrity of original Term De#osit.

+3.1 Where o!erde #eriod e$ceeds +3 days, renewal will be #ermitted if the de#ositor agrees to renew

for a frther #eriod of at least e'al to the #eriod, the de#osit remains o!erde.

The renewed term de#osit in abo!e case will take effect from the date of renewal i.e. the date on which

the de#ositor a##roaches the "ank for renewal.

The rate of interest on the renewed de#osit will be as #er the rate #re!ailing on the date of renewal not

from the date of matrity.

The interest for the o!erde #eriod will be the interest rate #re!ailing on the date of matrity or on the

date of renewal whiche!er is less.

+3.2 Where o!erde #eriod e$ceeds +3 days and de#ositor does not agree to renew the same




%$O 'AN

for a frther #eriod e'al to the #eriod of o!erde, interest may be #aid at 9a!ings "ank rate for the

o!erde #eriod. %n sch case, interest will be #aid for com#leted months only and fraction of a month

will be ignored.

1 . IN!I"A!ION OF D%E DA!E OF !ER" DEPOSI! IN ADVAN$E !O !HE DEPOSI!OR

"ranches are to maintain De Date Diary meticlosly for all term de#osit acconts Better of

intimation 4D&1=7 is to be sent to the de#ositor, whose term de#osit is de for matrity at least +? days

before the de date.

As the re!ised gidelines of Renewal of term de#osits ha!e an ad!erse effect on the interest of

de#ositor if he fails to re'est for renewal within +3 days after de date, the im#ortance of intimation

of de date to de#ositor has become manifold. 9o, branches mst adhere to the abo!e sti#lation

withot fail.

Proor/a o D<2:

%$O 'AN

"RA0

Date 1??

Dear 9ir@*adam,

R e & F,@e- Deos,t Re+e,t No.

or Rs.

We ha!e to inform yo that the abo!e Fi$ed

De#osit falls de for #ayment on

We shall be glad to ha!e yor instrctions to renew the

de#osit. Gindly send s the De#osit Recei#t dly

discharged, along with the attached letter.

Thanking yo for yor #atronage and assr&ing yo

of or best ser!ices.

We remain

>ors faithflly,

%$O 'AN

"RA0

Date 1??

Dear 9ir@*adam,

% am sending herewith my Fi$ed De#osit recei#t

o. for Rs.

falling de for #ayment on

. 5lease renew the De#osit for a

frther #eriod of months at yor

#re!ailing rate of interest.

*onthly@Iarterly %nterest

5ayable to 9.". A@c. o.

as #er 5arty)s %nstrction

>ors faithflly,

Assistant *anager 9ignatre of De#ositor4s7



%$O 'AN

1 7 . $ASH PA#"EN! IN$O"E !A9 (2n- A"END"EN!) A$!5 1C;1

+:.+ Any cash #ayment against a term de#osit can be made only as #er gidelines contained herein below

based on %ncome Ta$ 49econd Amendment7 Act, +-+, 9ection 1:T.

o com#any 4inclding a banking com#any7, co&o#erati!e society or firm shold re#ay to any #erson

any de#osit otherwise than by an accont #ayee che'e or accont #ayee bank draft or where the

amont of sch #ayment is Rs. 25=< or /ore.

5ro!ided that where the re#ayment is by a banking com#any or co&o#erati!e bank, sch re#ayment

may also be made by crediting the amont of sch de#osit to the accont 4if any7 with sch com#any

or bank of the #erson to whom sch de#osit has to be re#aid.

All de#osits which are re#ayable after a #eriod where the amont of de#osit or the aggregate amont

of de#osit together with interest is Rs. 25=< or /ore5 then the re#ayment of sch de#osits has to be

made by accont #ayee che'e or accont #ayee bank draft. 9ch re#ayments cold also be made by

crediting the amont of sch de#osit to the accont of the #erson to whom sch de#osit has to be

re#aid.

+:.1 The gidelines recei!ed from %ndian "ank)s Association on the abo!e cited %ncome Ta$ #ro!isions

are frnished below

‰ %n order to know whether the re#ayment of a #articlar de#osit attracts the #ro!isions of the Act

or not, it wold be necessary to find ot the aggregate amont of all term de#osits held in the

name of the de#ositor and the amont to be re#aid with interest at matrity or otherwise. Where

the aggregate of de#osits of a #arty or the aggregate of the de#osit and the interest to be #aid

thereon is Rs. 25=< or /ore5 the re#ayment will ha!e to be effected in the modes #rescribed

nder the A0T.

‰ 5ayment of #eriodical interest cold be effected in cash.

‰ Where there is a loan against a de#osit, while effecting re#ayment of the de#osit on matrity or

otherwise, the loan transaction is to be ignored. %n other words, the gross amont of de#osit and

interest re#aid shold be considered 4along with other de#osit, as #er first #aragra#h abo!e7 andnot the balance or net amont to be re#aid after ad(sting the loan liability.

‰ Renewal of a de#osit does not amont to re#ayment. De#osits cold be renewed by s#litting into

smaller de#osits in the name4s7 a##earing in the original de#osit recei#t. o nde benefit,

howe!er, wold be a!ailable to the de#ositor since e!en after s#litting each of the de#osits cold

be re#aid only in the manner #ro!ided in the Act when aggregate of all sch de#osits or the

aggregate of the de#osits and the interest to be #aid thereon is Rs. 25=< or /ore.




%$O 'AN

‰ 9#litting of de#osits other than in the name4s7 of original de#ositor4s7 shold not be #ermitted

withot effecting re#ayment of the de#osit4s7 in either of the modes #rescribed in the Act to the

original de#ositor4s7.

‰ %n res#ect of the de#osit held in the (oint names #ayment cold be effected to any one or more of

the de#ositors as #er the terms of the original contract between the bank and the de#ositor4s7 in

accordance with the directions of all the (oint de#ositors.

+:.2 Therefore "ranches shold

a7 obtain details of earlier de#osits from the de#ositors while acce#ting fresh de#osits

b7 *aintain a record of all term de#osits de#ositor&wise 4i.e. throgh maintaining FD Bedger and

%nde$ Register7

c7 While #aying any de#osit in cash, obtain a letter as #er the following #roforma.

To

The *anager

0O "ank

"ranch

Dear 9ir,

9b 5ayment of my@or Term De#osit o. dated for Rs.

on matrity@before matrity.

+7 %@we re'est yo to #ay the amont of the abo!e term de#osit in cash.

17H

%@we declare that %@we do not ha!e any other term de#osit@s with yo in my own name or (ointly withothers.

27 H%@we ha!e ke#t term de#osits with yo. %@we confirm that the aggregate amont of sch

de#osits or the aggregate amont of de#osits held by me@s with interest thereon is

less than Rs. 1?,???@&.

>ors faithflly,

Date 9ignatre of De#ositor4s7

H tri'e o"t the inapplica*le.




%$O 'AN

1 7 . 0 ILL%S!RA!IONS

Illustrat,on<1 & A de#ositor has more than one term de#osit 4amont of each de#osit at matrity being

less than Rs. 1?,???@&7 and all these de#osits are matrity on the same date@different dates. E!en

thogh the amont of each de#osit is less than Rs. 1?,???@& and they matre for #ayment on the same

date or different date, the aggregate of all the term de#osits shold be taken into accont after deciding

whether the said de#osits attract the #ro!isions of the %T 41nd Amendment7 Act.

%n cases where the aggregate of de#osits together with interest #ayable, if any, is Rs. 1?,???@& or more

it wold be re'ired to be #aid by Accont 5ayee che'e or "ank draft or by crediting the relati!e

amont in the #arty 9"@0rrent accont 4and not in cash7.

Illustrat,on<2 & A Gber >o(na de#osit of Rs.+?,???@& is ke#t to a #erson of = years. The aggregate of

the #rinci#al and the interest accred thereon to be #aid on matrity e$ceeds Rs. 1?,???@&. 9ch a

de#osit cold be #aid in any of the modes s#ecified in the %.T. 41nd amendment7 act and not in cash. %f

the #eriodical interest howe!er, had been #aid 'arterly@half yearly as and when de or at monthly

rests 4at disconted !ale7 and the aggregate amont of n#aid accred interest together with the

amont of de#osit on re#ayment is less than Rs. 1?,???@&, the aggregate of the de#osits of the

de#ositor4s7 inclding this de#osit and the n#aid interest may be seen and if sch aggregate is also

less than Rs. 1?,???@& then only the amont may be #aid in cash.

Illustrat,on< & A Fi$ed De#osit of Rs.1?,???@& is ke#t against which a loan of Rs.+8,???@&has been

granted. 9##ose on the date of matrity, the loan amont de is Rs. +:,138@&. Thogh the net amont

to be #aid to the de#ositor may be less than Rs. 1?,???@& the net amont may not be #aid in cash as #er

the Act.

Illustrat,on<0 & A Fi$ed de#osit of Rs. 8,???@& is ke#t against which a loan of Rs. 2,8??@&has been

granted. 9##ose on matrity, the net amont is to be #aid to the #arty. %f the loan amont de with

interest is Rs. 2,:??@& and if the amont of accmlated n#aid interest is Rs. +,=18@& what we ha!e to

do is to ignore the loan transaction, calclate the amont #ayable on matrity which is Rs. :,=18@&

4Rs. 8,??? Q Rs. +,=187, and add to it the other Term De#osits of the #arty at the branch. %f the

aggregate amont so arri!ed at is less than Rs. 1?,???@& then only the amont may be #aid in cash.

Otherwise the mode of #ayment as s#ecified in the Act will be a##licable.

1 7 . Penalty or Fa,lure to +o/ly 6,t* t*e a3o4e ro4,s,ons regar-,ng +as* ay/ent

The #enalty when we fail to com#ly with the abo!e #ro!isions regarding cash #ayment has been

#ro!ided for in section 1=:E of the %ncome Ta$ 41nd Amendment7 Act, +-+.




%$O 'AN

The section is 'oted below for reference.

K%f a #erson, withot reasonable case or e$cse, re#ays any de#osit referred to in section 1:T

otherwise than in accordance with the #ro!isions of that section, he shall be #nishable with

im#risonment for a term which may e$tend to two years and shall be liable to fine e'al to the amont

of sch de#osit.

1 : . PA#"EN! !O !HIRD PAR!#

+=.+ A term de#osit recei#t is not a negotiable. One of the conditions of term de#osit recei#t is that the

recei#t is not transferable. The de#ositor, therefore, cannot endorse it in fa!or of another #erson. The

#ayment mst be obtained by de#ositor himself or by his banker.

+=.1 %n case the de#ositor wants the #ayment to be made to one of his agents@em#loyees, the term de#osit

recei#t mst be discharged by de#ositor and a re'est shold be made by him@her in a co!ering letter

to the bank to make #ayment to sch agent or em#loyee. The signatre of sch agent@em#loyee shold

be attested in the letter by the de#ositor.

+=.2 %n case of (oint accont, the athority and discharge of the de#ositor mst be according to

instrctions gi!en in Term De#osit Recei#t. %f the instrctions are to #ay to de#osits (ointly, then all the

(oint de#ositors shold sign the letter and discharge the term de#osit recei#t.

+=.3 When #ayment of term de#osit recei#t is to be effected to an athorise #erson in the manner

described abo!e, it is essential that

a7 The signatres of de#ositor4s7 on the Recei#t in discharge thereof are careflly !erified.

b7 5ro#er and satisfactory identification of the #erson recei!ing the #ayment is obtained.

c7 To #ay by 5ay Order marked KA@c 5ayee and Kot egotiable fa!oring the de#ositor when

the amont of #ayment so warrants as #er section 1:T of %ncome Ta$ 41nd Amendment7 Act

+-+.

d7 To e$ercise greater care when amont in!ol!ed is large.

+=.8 All #ayments to Bimited com#anies shold be by 5ay Order or by crediting their 0rrent Acconts

with the "ank.

1 ; . ADDI!ION AND DELE!ION OF !HE NA"E(S) OF OIN! A=$ HOLDERS

At the re'est of the (oint accont holders the "ank may allow the addition or deletion of name4s7 of

(oint accont holder4s7 if the circmstances so warrant or allow an indi!idal de#ositor to add the

name of another #erson as a (oint accont holder as #er gidelines of Reser!e "ank of %ndia.




%$O 'AN

%t shold be noted that nder no circmstances, the dration of the original de#osit ndergo any change

in any manner in case the de#osit is a term de#osit,

a7 for a banking instittion or a co&o#erati!e bank other than Band De!elo#ment "ank.

b7 for which it has issed a #artici#ation certificate

c7 for a #eriod not e$ceeding +3 days from B%0 and T% re#resenting money at call or short notice.

d7 nder the Foreign 0rrency 4on&Resident7 Accont 9cheme.

1 C . OVERD%E !ER" DEPOSI! RE$EIP!

+.+ The term de#osit, which remains n#aid after the de dates are, called KO!erde Term De#osits.

9ch de#osits are demand liabilities and therefore they shold be segregated from term de#osit and be

incor#orated to <B accordingly.

+.1 The officer concerned shold refer to De Date Diary and get the term de#osits 4FD@G>@D07 de bt

not #aid 4or renewed7 transferred to KO!erde Fi$ed 6 Time De#osit Accont.

This #rocess shold be accom#lished as fre'ently as #ossible, bt mst be done at the time of each

'arterly closing of acconts.

+.2 While transferring to KO!erde Fi$ed 6 Time De#osit Accont the entire matrity !ale 4in case of

G> 6 D0 Accont7 or the #rinci#al Q n#aid interest 4in case of FD Accont7 is to be transferred to

that accont.

+.3 The following !ochers are to be #assed while doing the abo!e

%n case of G>@D0

Debit 0FD A@c 4for matrity !ale7

0redit O!erde Fi$ed 6 Time de#osit accont

%n case of FD Accont

Debit FD Accont 4for #rinci#al amont only7

Debit %ntt. 5aid 4for n#aid intt. amont, if any70redit O!erde Fi$ed 6 Time De#osit Accont

+.8 The date of transfer to o!erde Fi$ed and Time De#osit accont shold be marked in the term

de#osit Register, Bedger and De Date Diary with a remark KTransferred to o!erde A@c.

+.: A se#arate KFi$ed De#osit Register may be allotted for recording details of term de#osit recei#ts

transferred to KO!erde Fi$ed and Time De#osit Accont. The register may be named as KOD&FD

Register.




%$O 'AN

1 C . : Pay/ent=rene6al o ter/ -eos,t re+e,ts transerre- to o4er-ue a++ount

When an o!erde term de#osit is #resented for #ayment or renewal, the #rocedre is same as otlined

in #aragra#h o. +2 in #age =8. The only difference is that instead of term de#osit, KO!erde Fi$ed 6

Time De#osit Accont is to be debited.

2 . !RANSFER !O INOPERA!IVE A$$O%N!

Term de#osit recei#ts which are not #aid@renewed within two years after their matrity shold be

treated as stale term de#osits and be transferred to K%no#erati!e Accont 4For detailed instrctions,

#lease refer to 0ha#ter&C% on KO#erati!e Acconts.

2 1 . RES!RI$!ION ON PRE"A!%RE I!HDRAAL (FORE$LOS%RE) OF HIGH

VAL%E !ER" DEPOSI!Sigh /ale Term De#osits for this #r#ose means de#osit of R#ees one crore and abo!e. Fresh

de#osits made from +-@?8@1??+ or renewal of e$isting de#osits from +3@?8@1??+, #rematre

withdrawal shall not be allowed nder any circmstances, e$ce#t the de#osits held by indi!idal4s7

and F.

2 2 . 'ALAN$ING

11.+ Term de#osit acconts shold be balanced e!ery month as on the day s#ecified by the *anager from

R0B 4For G>@D07 and from Fi$ed De#osit Register@Bedger 4for FD Acconts7.

11.1 O!erde Term De#osit register shold be balanced e!ery month on the day to be s#ecified by the

*anager.

11.2 The officer who has been allotted the dty of checking the balancing of term de#osit ledger@register,

shold check the balances in the balance book from the res#ecti!e ledger@register and after being flly

satisfied as to the (otting down and totalling, shold #t a rbber stam# with following words and

signed by #erson concerned.

"alanced ........................................... 40lerk7

0hecked by ...................................... 4Officer7

E$amined by .................................... 4Asst. *anager7

%nitial of *anager ............................




%$O 'AN

'RIEF FI9ED DEPOSI! A$$O%N! R%LES

+. Any #erson a##ro!ed by the "ank may o#en a Fi$ed De#osit Accont. e@9he has to sign the

relati!e Accont O#ening Form in #resence of athorized official of the "ank #on agreeing to

com#ly with the rles go!erning Fi$ed De#osit Acconts and #ro!iding satisfactory introdction.

5ass#ort@5ersonal %dentity 0ards@5A 0ard@<%R o.@/oters) %dentity 0ard issed by

0hief Election 0ommission ; may be considered as ade'ate introdction for o#ening sch

accont. owe!er, introdction is not essential where the de#ositor is already ha!ing and

introdced accont.

1. The "ank will not o#en an accont which is to be o#erated nder a cross mark or signatre by

the hand of another #erson.

2. An illiterate #erson may o#en Fi$ed De#osit Accont to be o#erated by his@her thmb im#ression.

3. Two 5ass#ort size #hotogra#hs 4three, if the accont is to be o#erated by thmb&im#ression7

are re'ired to be sbmitted by the de#ositors at the time of o#ening of a Fi$ed De#osit Accont,

nless sch #hotogra#hs are already a!ailable to the branch in res#ect of another accont.

8. E!ery de#ositor while o#ening a Fi$ed De#osit Accont by tendering cash shall be re'ired to

frnish 5A@<%R mber or sbmit Form :?@:+ if the de#osit amont e$ceed Rs. 8?,???@&.

:. Fi$ed De#osit Accont can also be o#ened by a natral gardian i.e. father or mother or by a

gardian a##ointed by the 0ort on behalf of a minor, or by a minor ha!ing attained the age of

+? years.

=. The "ank reser!es the right to !erify the details gi!en in the Accont O#ening Form throgh any

third #arty, if necessary.-. Fi$ed De#osit Acconts can also be o#ened by Hoint 9tock 0om#anies, E$ectors 6

Administrators in their names, 0lbs, 9ocieties, Associations, Edcational %nstittions, Trsts,

9ole #ro#rietorshi# or 5artnershi# Firms.

,. The same de#ositor in the same name can o#en more than one Fi$ed De#osit Accont.

+?. Fi$ed De#osit Accont may be o#ened for a minimm #eriod of +8 days and ma$imm #eriod of +? years.

++. The minimm amont re'ired to o#en a Fi$ed De#osit is Rs. +???@&.

+1. %nterest is #aid either #eriodically monthly at -,s+ounte- rate@'arterly for Fi$ed De#osit nder Reglar

%ncome 9cheme or on matrity of the de#osit on cmlati!e basis nder Gber >o(na or De#osit 0ertificatescheme. %ncome Ta$ is dedctible at sorce from sch interest sb(ect to %ncome Ta$ rles. The de#ositor

shold sbmit Form +8& where!er a##licable.

+2. 9enior 0itizens who ha!e attained the age of :? years and abo!e are #resently offered ?.8?P o!er and

abo!e the normal interest range on Fi$ed De#osit regardless of the size of de#osit and #eriodicity.

+3. E!ery de#ositor is entitled to ha!e a Fi$ed De#osit Recei#t 4FDR77 for each de#osit accont containing the

date of isse, name4s7 of the de#ositor4s7, #eriod of de#osit, date of matrity, rate of interest 6 matrity

!ale of the de#osit 4e$ce#t for de#osit nder Fle$ible Fi$ed De#osit 9cheme7. E!ery de#ositor is e$#ected

to #reser!e the FDR careflly. %n case of loss of FDR, the




%$O 'AN

de#ositor has to inform the "ranch *anager and re'est for a d#licate. %f the "ranch *anager is satisfied

that the FDR is irretrie!ably lost and the "ank is generally safe in issing a d#licate one, he may athorize

issance of d#licate FDR on #ayment of #rescribed charges and com#letion of formalities.

+8. 5rematre withdrawal is allowed in case of all ty#es of Fi$ed De#osit sb(ect to #re!alent #enalty clase

from time to time.

+:. The de#ositor is also #ermitted e$tension of term of the de#osit before e$#iry of the original term de#osit

withot a##lication of #enalty clase #ro!ided the de#osit in 'estion is agreed to be held for a frther

#eriod reckoned from the date of e$tension which is longer than the remaining #eriod of the original

contract.

+=. Transfer of a Fi$ed De#osit Accont from one branch to another is allowed on re'est of a cstomer de to

change in his #lace of residence or #lace of work.

+-. On de date de#ositor4s7 is@are re'ired to discharge on the FDR with a !iew to getting #ayment of matrity

#roceeds either in cash or by crediting his@her@their 9a!ings "ank@0rrent De#osit Accont with the same

branch. owe!er, in terms of #ro!isions of %ncome Ta$ Act +-+, matrity yield of any Fi$ed De#osit

amonting to Rs. 1?,???@& and abo!e wold be #aid either by A@c. 5ayee 0he'e or A@c. 5ayee "ank draft

or by crediting 9a!ings@0rrent De#osit accont of the #erson to whom sch de#osit has to be re#aid. FDR

is not transferable i.e. it cannot be endorsed in fa!or of another #erson.

+. On matrity of the s#ecified term, the de#ositor may also o#t to renew the de#osit for a frther #eriod in

Fi$ed De#osit and change the #eriod of de#osit ad amont of de#osit. Also addition 6 deletion of names in

a Hoint Accont is #ermitted.

1?. %f the cstomer neither obtains #ayment nor renews the Fi$ed De#osit althogh the term is o!er, it is called

an o!erde Fi$ed De#osit. 5ayment@renewal of o!erde Fi$ed De#osit is go!erned by following rles.

Renewal is carried ot at the rate of interest #re!ailing on the date of matrity #ro!ided o!erde #eriod does

not e$ceed +3 days from the date of matrity.

Where o!erde #eriod e$ceeds +3 days, interest wold be #aid #ro!ided the de#ositor renews the de#osit

for a frther minimm #eriod for which the de#osit is lying o!erde. %f not renewed for a time e'al to or

more than o!erde #eriod, interest rate a##licable to 9a!ings "ank de#osit is #ayable on the de#osit.

The interest for the o!erde #eriod will be #aid at the rate #re!ailing on the date of matrity or on the dateof carrying ot renewal, whiche!er is less. This interest may be #aid to the de#ositor or clbbed with the

de#osit for renewal.

1+. The de#ositor may a!ail loan@ad!ance against the secrity of the Fi$ed De#osit sb(ect to e$tant rles of the

"ank in res#ect of sch loan@ad!ance from time to time, and sch rles will be a##licable notwithstanding

anything contained hereinabo!e.

11. omination facility is a!ailable in case of Fi$ed De#osit. The nominee mst be an indi!idal.

12. The "ank reser!es the right to alter or add to these rles and sch alteration and additions

shall be binding on the accont holders.

UUUUU H H H UUUUU *AAB OF %9TR0T%O9 – VOL. 4 (DEPOSITS) PART-I 1 5 5



CHAPTER - V

NEW

DEPOSIT

SCHEME

S

"ank introdced

ndernoted se!en

nmbers of new

de#osit schemes in

order to ;

+7 sit the need

and demand

of different

section of

de#ositors.

17 bring new

#rodcts

into the

market for

effecti!ely

facing the

stiff

com#etition.

27 Banch

!arieties of

#rodcts to

attract the

de#ositors

and

37 enable the

managers toface the

challenges

of the

market with

new

#rodcts.

Sl. Na/e o t*e S+*e/e Intro-u+e- t*

No.

+. Bakh#ati De#osit 9cheme 0O@DE5@+?

1. *oney *lti#lier 9cheme 0O@DE5@+?



2. *oney "ack Recrring De#osit 9cheme 0O@DE5@+@

3. Two Way De#osit 9cheme 0O@DE5@2@

8. Friend&in&eed 9cheme 0O@DE5@+8

:. Fle$ible Fi$ed De#osit 9cheme 0O@DE5@+1

=. 0O Ba$mi >o(na 0O@DE5@+-

-. 0O Ta$&9a!ers De#osit 9cheme 0O@DE5@?

Ot of the

abo!e, 4i7 Bakh#ati

De#osit 9cheme,

4ii7 *oney

*lti#lier 9cheme

and 4iii7 *oney

"ack Recrring

De#osit 9cheme

ha!e been

discontined with

effect from

+3.?1.1??1 !ide

ead Office

0irclar o.

0O@DE5@?2@1??

1 dated

+3.?1.1??1.

owe!er, acconts

already o#ened

nder the abo!e

three scheme willcontine to be held

in the "ank)s book

of acconts till

their matrity and

are sb(ect to rles

and #rocedre

a##licable to the

res#ecti!e

scheme .



9o, now, we

are ha!ing fi!e

nmbers of new

de#osit schemes

ot of the se!en,

introdced. %n

addition, a 9#ecial

De#osit 9cheme

for the benefit of

the senior citizens

has been floated

by the "ank with

effect from

+3.?8.1??+.

*AAB OF %9TR0T%O9 – VOL. 4 (DEPOSITS) PART-I



%$O 'AN

a7 The "ank shold transfer a sm of Rs. +???@& or mlti#les thereof to Fi$ed De#osit

Accont to 3: days at the beginning of the last month of each 'arter i.e. *arch, Hne, 9e#tember and

December to the debit of my@or 0rrent@9a!ings "ank accont #ro!ided the balance otstanding after effecting sch transactions is not less than Rs. 4R#ees

7. 9ch transfers may be made on any day in the

first week of the last month of the 'arter i.e. in the first week of *arch, Hne, 9e#tember and

December withot any #rior reference to me@s. %@we ha!e e$ected a se#arate s#ecimen signatre card

for sch Fi$ed De#osits.

1. The "ank shold E%TER

a7 renew sch Fi$ed De#osit@s with accred interest as and when it@these matres@ matre for

frther #eriods of 3: days till sch time %@we encash one or more of these by se#arateinstrction@s.

OR

b7 renew sch Fi$ed De#osit@s withot accred interest as and when it@these matres@ matre for

frther #eriod of 3: days till sch time %@we encash one or more of these

by se#arate instrctions. The accred interest may be credited to the 0rrent@9a!ings "ank

Accont o. standing in my@or name.

OR

c7 5ay back the Fi$ed De#osit@s with accred interest, as and when it@these matres@ matre for

#ayment by crediting the 0rrent@9a!ings "ank Accont o.

standing in my@or name. This athority wold amont to a !alid discharge for sch #ayments

of Fi$ed De#osit@s for the "ank.

4H

strike ot any two of the o#tions according to the choice of the de#ositor 7

2. The se#arate instrction for encashment of one or more of the Fi$ed De#osits, as mentioned hereinabo!e,

on matrity, wold be signed by any one@any two@any three@all of s or sr!i!ors 4strike ot whiche!er

is not a##licable7.

3. %@we hereby athorise the "ank to reco!er a sm of Rs. +8@& each 'arter i.e. at the beginning of *arch,

Hne, 9e#tember and December to the debit of my@or said 0rrent@9a!ings "ank Accont to co!er

handling charges

8. %@we ndertake to always maintain a minimm balance of Rs. 8???@& 4in case of 0rrent Accont @ Rs.

1???@& 4in case of 9a!ings "ank Accont in my@or 0rrent@9a!ings "ank accont mentioned

hereinabo!e. 49trike ot whiche!er is not a##licable7

:. The #ro!isions, terms and conditions of Two&Way De#osit 9cheme inclding the interest rate on fi$ed

de#osit of 3: days may be changed or !aried by the "ank in its absolte discretion withot #rior notice

and %@we shall be bond by sch !ariation.




%$O 'AN

The details wold inclde 4i7 9a!ings@0rrent accont from which #eriodical debits wold be made for

transferring fnd to FD 4TWD7N 4iii7 whether FD 4TWD7s shold be renewed with interest or renewed

withot interest or #aid back on matrityN 4i!7 reference o. of FD 4TWD7 register and FD 4TWD7 ledger folio. The branch shold !ery scr#losly follow the instrctions and transfer fnds timely as desired by the

de#ositor.

FD (!D) REGIS!ER AND LEDGER

9e#arate register and ledger are to be ke#t for TWD acconts, 9e#arate folios are to be allotted to each

de#ositor in the FD 4TWD7 ledger. Entries to be made in the register and ledger wold be the sal ones. A

se#arate rnning serial o. may be maintained for TWD acconts for easier control. As and when a de#osit

matres it shold be either renewed or #aid, de#ending #on the instrction of the de#ositor. %t wold be the

dty of the branch to kee# a constant !igil on the three books !iz. 4i7 9tanding %nstrction Register 4ii7FD@TWD Register and 4iii7 FD 4TWD7 Bedger to ensre all Jto and fro) transfers and renewals etc. are done

e$actly on time so that the de#ositor does not find any occasion to be aggrie!ed with.

DIS$ON!IN%AN$E OF FD RE$EIP! FOR !D A$$O%N!S

9ince a large nmber of renewals are e$#ected of cash FD 4TWD7 De#osit, it has been decided to do away

with the necessity of issing FD Recei#ts in case of TWD accont FD 4TWD7 Register and Bedger wold be

sfficient to frnish all details of the TWD acconts. As a record for the de#ositor, a 5ass "ook shold be

gi!en to him which wold reflect the entries in the FD 4TWD7 ledger accont of the de#ositor. 5lease notethat for each de#ositor only one accont in FD 4TWD7 ledger is to be o#ened. All )to and fro) transfers,

renewals etc. shold be shown in that ledger. A reflection of these entries in the 5ass "ook of the de#ositor

wold enable him to know the #&to&date #osition of his TWD accont.

HEAD OF A$$O%N! IN !HE GENERAL LEDGER

Two Way De#osits are nothing bt Fi$ed De#osits and as sch no new head of accont needs to be o#ened in

the <eneral Bedger.

HO $AN OPEN !D A$$O%N!

9ince the crrent@9a!ings "ank accont and the related Fi$ed De#osit Acconts are en!isaged to belong to

the same entity, sch crrent@9a!ings "ank and Fi$ed De#osit Acconts wold be o#ened in identical names

of indi!idals, associations of #ersons, minor 4to be o#erated by gardians7 and firms 6 com#anies wold be

eligible to o#en Two Way De#osit Accont.

LOAN AGAINS! !D

9ince all the Fi$ed De#osit in this scheme wold matre in a #eriod of 3: days only no loans@ o!erdraft etc.

wold be granted against Two&Way De#osits.




%$O 'AN

S!AFF A$$O%N!

One #er cent additional interest wold be a!ailable to staff members who o#en acconts nder this scheme.

owe!er, in these cases the re'irement of minimm balance and the 'arterly charges may be wai!ed.

!ARGE! GRO%P

Target gro# for this de#osit scheme wold com#rise those de#ositors who ha!e either a tem#orary sr#ls

fnd 4say in a crrent accont7 which may be in!ested gainflly for short dration or sch fnds which

remain idle in !iew of nforeseen contingency 4say in a 9a!ings "ank accont7 where li'idity of fnd mst

be ensred to take care of sch contingency. %n medim or long term Fi$ed De#osit, this re'irement cannot

be met Two Way de#osits are ideally sited for this gro# of de#ositors.

UUUUUUUUUU




%$O 'AN

2 . FRIEND<IN<NEED DEPOSI!

4 Reference 0O@DE5@+8@1&2 dated +3.?.+1 7

This is a scheme where de#ositors who are indi!idals or associations of #ersons can a!ail of an o!erdraft

facility against Fi$ed De#osit throgh a 0rrent Accont by drawing sal che'es withot a##roaching the

"ank time and again for a loan facility as is the #rocedre followed in granting loans against FDR to this

category of de#ositors. %n effect, the de#ositor feels that while his de#osit earns interest at the Fi$ed De#osit

rate, he can still se a ma(or #art of his money as and when needed and hence the name of the scheme.

Essent,al Features

a7 A Fi$ed De#osit 4which incldes Gber >o(na7 accont is o#ened by the de#ositor.

A 0rrent Accont also needs to be o#ened in identical name if there is no e$isting

crrent accont in that name.

b7 The FD@G> Recei#t is got discharged by the de#ositor in the sal manner to be ke#t nder lien with

"ank.

c7 A set of docments is e$ected by the de#ositor athorising the "ank to allow drawing against the said

Fi$ed De#osit@Gber >o(na # to a ma$imm of ?P of the de#osit amont. These docments are the

sal ones !iz A&+, or A&1, A&2, A&2- and A&3=.

d7 A re'est letter, a #roforma of which is gi!en herender, is obtained from the de#ositor for treating the

Fi$ed De#osit as a Friend&in&eed De#osit with necessary details.

e7 For o!erdraft facility # to Rs. 1 lakhs, an interest at a rate 1P higher than that allowed on the Fi$ed

De#osit concerned is charged on the debit balance, if any, in the 0rrent Accont on daily #rodct

basis. For o!erdraft facility abo!e Rs. 1 lakhs, the interest rate wold be the 5BR or de#osit rate #ls

1P whiche!er is higher.

Al,+at,on or Fr,en-<,n<Nee- Deos,t A++ount

The *anager

0O "AG

"ranch Date

Dear 9ir,

%@we ha!e #t in Rs. 4R#ees 7

as Fi$ed De#osit@Gber >o(na the accont nmber of which is@are in regard to this

%@we state as nder

+7 %@we desire to ha!e a drawing facility #to a ma$imm of ?P 4ninety #ercent7 of the de#osit

mentioned hereinabo!e as and when %@we need the same.




%$O 'AN

17 9ch drawings wold necessarily be made in the 0rrent Accont standing in my@or name by way of

reglar che'es.

27 %f de to sch drawings and@or other debits made by the "ank, the balance in the said 0rrent accont

goes into the debit, the "ank shall be athorised to charge interest at a rate of 1P 4two #er cent7 abo!e

the rate allowed on the FD@G> !iz. P 4................

#er cent7 i.e. at a rate of P 4#ercent7 on the otstanding debit balance on

daily #rodct basis.

The interest rate wold be the 5rime Bending Rate or 1P abo!e the de#osit rate whiche!er is higher

i.e. at a rate of P 4#ercent7

4H

strike ot whiche!er is not a##licable de#ending on whether the o!erdraft facility is #to Rs. 1

lakhs or abo!e Rs. 1 lakhs 7

37 To facilitate the abo!e arrangement %@we ha!e discharged the said FD@G> recei#t in blank to be ke#t

nder lien with the "ank as a secrity against sch o!erdrawings and any charges, interest and claim

that the "ank may ha!e in the said same crrent accont.

87 %t is howe!er e$#ressly agreed that not with e$#ressly agreed that notwithstanding

the abo!e, the "ank shall ha!e right of lien and@or set off and combination of accont on

the abo!e Friend&in&eed de#osit whether matred or not for any other liability #resent, ftre or

contingent of mine@ors to the bank on any other accont4s7 whatsoe!er and howsoe!er whether as

#rinci#al or as a srety.

:7 5ayment of the FD@G> whether on matrity or #rematrely wold only be made throgh the said

crrent accont.

=7 %@we shall form time to time e$ecte any frther docments or agreements as may be re'ired by the

bank in gi!ing effect to the Friend&in&eed de#osit and agree to abide by the rles in force of the bank

from time to time in res#ect of Friend&in&eed de#osit whether e$#ressly notified to me@s or not.

>ors faithflly,

9ignatre

ame

Address

Hea- o A++ount ,n General Le-ger

o se#arate head of accont needs to be o#ened in the <eneral Bedger Friend&in&eed de#osit wold form a

#art of Fi$ed De#osit or Gber >o(na as the case may be Debit balance




%$O 'AN

in crrent acconts reslting from drawing by the de#ositor wold form a #art of o!erdraft in crrent

acconts and be shown as sch in <eneral "alance.

Loan aga,nst Fr,en-<,n<Nee- Deos,t

o other loan@OD wold be allowed against sch de#osits.

El,g,3,l,ty $r,ter,a an- Floor L,/,t

+7 %ndi!idals and associations of #ersons may o#en Friend&in&eed de#osit accont

Fi$ed de#osit@Gber >o(na and the related crrent acconts shold be o#ened in identical

names. Drawing against third #arty FD@G> shold not be allowed nder the scheme.

17 An FD@G> for minimm of Rs. +?,???@& and in mlti#les of Rs. +???@& for a #eriod of three years and

abo!e 4# to a ma$imm of +? years7 wold be acce#ted nder this scheme.

Sta A++ount

This scheme is meant to ser!e dal #r#ose. On one hand, the "ank wants to attract medim term de#osits

and on the other hand, a channel for in!esting the fnds is in&bilt in the scheme. Allowing staff members

concessions in margin and rate of interest in this scheme wold defeat its #r#ose. Therefore, staff members

can a!ail of the facilities of this scheme nder the same terms and conditions as a##licable to general #blic.

o. concession in margin and rate of interest wold be a!ailable to them in this scheme.

",s+ellaneous

+7 *atre@5rematre #ayment may be allowed in the sal corse, the #roceeds of which shold be

credited to the related crrent accont.

17 All the docments@letters e$ected by the de#ositors are to be ke#t in a bnch along with the FD

Recei#t, dly discharged, in a se#arate co!er s#erscribed as Friend&in&eed De#osit. These

docments wold be ke#t in cstody of the bank as secrity docments.

27 Friends&in&eed acconts are #rimarily meant to ser!e those indi!idals and associations of #ersons

who wold like their de#osit to earn handsomely while at the same time it remains li'id enogh to

make se of it. As sch, thogh the drawings wold be made throgh a crrent accont, the

transactions wold be more in the natre of those in a ty#ical 9a!ings "ank accont.

0) No a++ount 6oul- 3e oene- ,n t*e na/e o a /,nor un-er t*,s s+*e/e.

!arget Grou an- ",s+ellaneous

This scheme is #rimarily meant for attracting long and medim term de#osits, with o!erdes to




%$O 'AN

earn interest by ad!ancing thereagainst. Form the de#ositor)s side also, the scheme is ad!antageos becase

he can se a ma(or #ortion of his fnd in the same way as in a 9a!ings "ank accont while the de#osit goes

on earning interest at a mch higher rate than that a!ailable on sa!ings bank de#osit. *oreo!er, he does notneed to a##roach the bank e!ery time for granting drawal against his own de#osit. Target gro# for this

scheme is the rban middle and high income gro#s who often needs either to #rematrely encash their

accmlated de#osits to meet certain nforeseen e$#enditre or to kee# nnecessarily large amonts in low&

earning sa!ings bank accont to meet #eriodical e$#enses, losing interest nder both the alternati!es.

UUUUUUUUUU




%$O 'AN

. FLE9I'LE FI9ED DEPOSI! (FFD) S$HE"E

%t is a de#osit scheme like Gber >o(na acconts, ha!ing #ro!ision of the #rematre with&drawals withot

any #enalty. 9ch #rematre withdrawals are allowed to be made in mlti#le of Rs. +???@&. o #enal interest

is le!ied for sch #rematre withdrawals, bt interest is #aid at sim#le rate and at the rate a##licable for the

#eriod on the de#osit held by "ank.

!arget Grou

Target <ro# for the scheme cold be those de#ositors who make lm#sm de#osits in the "ank and at the

same time wold like to ha!e easy access to the fnd at the time of necessity with minimm loss of interest.

%t has a distinct ad!antage o!er Gber >o(na scheme in the way that a de#ositor nder G> Accont has to

foreclose the entire accont when he is in bare need of money, thereby he losses a sizable amont by way of

#enalty de to #rematre closre. nder FFD 9cheme, on the other hand, the de#ositor can withdraw a #art

of the de#osited amont de#ending #on his necessity, While his interest earning on the balance amont of

de#osit remains naffected.

El,g,3,l,ty

%ndi!idals, Association of #ersons and bodies, those are eligible to o#en 9" Acconts as #er R"% gidelines

; $ategory A

All other de#ositors, not co!ered nder category JA) abo!e ; $ategory '

",n,/u/ A/ount o Deos,t

For de#ositors nder 0ategory JA) ; Rs. 8???@&

Frther additional amont will be in mlti#le of Rs. 8???@& only

For de#ositors nder 0ategory K") ; Rs. +,??,???@&

Frther additional amont will be in mlti#le of Rs. +?,???@& only.

Nu/3er o re/ature 6,t*-ra6als er/,ss,3le

For category JA) de#ositors ; o restrictionFor 0ategory J") de#ositors ; *a$imm +1 times in a calendar year.

Pre/ature 6,t*-ra6al

5rematre withdrawal of a #art of the de#osit amont are allowed with a minimm amont of Rs. +???@& or

in mlti#le thereof #er occasion.

o #enalty in the form of redction in a##licable interest rate will be le!ied for sch #rematre withdrawals.

"t, interest on the amont of #rematre withdrawal will be #aid on sim#le interest rate 4i.e. withot

com#onding at 'arterly inter!als7 as wold be a##licable for the




%$O 'AN

#eriod for which the amont remained with the "ank and the rate as was #re!ailing for sch #eriod at the

time of de#ositing the amont.

A++ount,ng Oen,ng For/

Acconts nder FFD schemes wold be o#ened with the sal a##lication&cm&0redit !ocher 4DT&17 sed

for Gber >o(na Acconts. Along with this !ocher, a declaration as gi!en herender is to be obtained at the

time of o#ening of the accont. This declaration may be ke#t at the branch either with the s#ecimen signatre

card or in a se#arate file.

Searate re>uest ,n la,n aer ,s to 3e /a-e 3y t*e -eos,tor or ea+* re/ature 6,t*-ra6al , which

will be stitched, to the concerned debit !ocher, debiting the #rinci#al amont.

DE$LARA!ION

The *anager

0O "ank

"ranch Date

Dear 9ir,

9b De#osit nder Fle$ible Fi$ed De#osit 9cheme

With reference to the de#osit of Rs. 4R#ees 7

only, which %@we ha!e made with yo nder yor Fle$ible Fi$ed De#osit 9cheme, %@we hereby declare that

#artial #rematre withdrawal of the #rinci#al amont, which is allowed nder the scheme, if any wold be

made by me@s, it wold be in mlti#les of Rs. +???@& 4R#ees one thosand7 only. The "ank shall be at

liberty to im#ose #enalty on interest or to #ay interest at sim#le rate on the amont, which will be

#rematrely withdrawn, as #er rles of the "ank.

The rest amont, if any, wold become #ayable on matrity.

>ors faithflly,

49ignatre of the de#ositor7

ame

Address

Oen,ng o a S' A++ount or $urrent A++ount The de#ositors nder the scheme mst ha!e a 9a!ings

"ank@0rrent accont in the branch. %f they are not ha!ing sch accont earlier, they shall ha!e to o#en a

9a!ings "ank@0rrent accont before de#ositing any amont nder FFD 9cheme. All #rematre

withdrawals@final withdrawal at matrity shall be roted throgh the said accont.




%$O 'AN

Pass 'ooB ,n la+e o # Re+e,t

o G> Recei#t is to be issed for de#osits nder this scheme. A 9a!ings Accont 5ass "ook or #referably a

crrent accont 5ass "ook shold be issed to the de#ositor wherein entries #to the balance colmn of the

ledger wold be reflected. A se#arate #ass book designed s#ecifically for this scheme is being introdced by

the "ank. Till sch time the new 5ass "ook is #t in #t into se, branches shold se crrent accont #ass

book for acconts nder this scheme. %t may be noted careflly that if the de#ositor has more than one

accont nder the scheme which wold be maintained in different ledger folios, each sch accont shold be

shown in different folios of the same #ass book in a chronological manner. %n the 5ass "ook folio, the

corres#onding ledger folio nmber maybe mentioned at the to# for easier reference. %n other words each folio

of the #ass book wold show one accont with one credit entry and #resmably more than one debit entries

(st like that in the ledger folio.

nder this system of maintaining #ass book, if the accont holder wants to know the total balance

otstanding in all the indi!idal acconts 4a##earing on se#arate folios of the #ass book7 it may not be

con!enient to him in absence of a smmary statement. To enable him to know the total balance at any #oint

of time at a glance, we sggest that a smmary of all acconts showing therein all credit and debit entries be

maintained #referably in the last two folios of the #ass book. This smmary wold show all the de#osits and

withdrawals made in all the acconts of the accont holder as also the final balance otstanding taking all the

acconts together. For easier com#rehension of this as#ect a hy#othetical smmary is shown below which

e$hibits the entries in the smmary for hy#othetical case.

Su//ary o a++ounts

4 y#othetical e$am#le 7

Date Part,+ulars De3,t $re-,t 'alan+e

+?.?.- "y G>@FFD@8@3 1?,??? 1?,???

?1.?1. "y G>@FFD@1@8 +?,??? 2?,???

+8.?=. To withdrawal from +?,??? 1?,???

"y G>@FFD@8@3

+?.?+.?? To withdrawal from 8,??? +8,???

"y G>@FFD@1@8

+=.?-.?+ "y G>@FFD@+1@: +8,??? 2?,???

Re+or- ee,ng

%t shold be clearly nderstood that thogh there may be se!eral withdrawals in an

accont, there can be only one de#osit at the time of o#ening of the accont. %f the de#ositor




%$O 'AN

wants to make frther de#osit@de#osits nder the scheme, all sch de#osit@de#osits wold constitte se#arate

accont@acconts. 9ch se#arate acconts are to be maintained in se#arate ledger folios. %t may be obser!ed

that the colmns re'ired for maintaining sch acconts are more or less the same as in a 9a!ings or 0rrentaccont ledger folio. We feel that branches may se the e$isting 9a!ings 4big bond7@0rrent accont@FD

ledger with necessary modifications incor#orating therein the colmns re'ired for making interest entries as

shown in the e$am#le in acconting #rocedre. We sggest that a se#arate ledger be maintained for this ty#e

of acconts for easier control. Each accont 4one accont in one folio7 shold be o#ened chronologically in

se#arate folios. %t may so ha##en that one de#ositor who has more than one accont nder this scheme will

ha!e his acconts in different folios of the ledger according to the date of o#ening of the accont.

!*ese a++ounts nee- not 3e entere- ,nto R$L5 /eant or $FD A++ounts.

Hea- o A++ount ,n General Le-ger

These de#osits are Gber >o(na de#osits only and no new head needs to be o#ened in <eneral Bedger.

owe!er, a se#arate rnning serial nmber maybe maintained with sitable #refi$ or sffi$ in the Acconting

O#ening Register. A ty#ical nmber may be G>@FFD@8@-&.

A++ount,ng Pro+e-ure

De#osits nder the scheme has not been categorised nder 0mlati!e Fi$ed De#osit 40FD7 acconts. Ths,

the #rocedre followed for #ro!ision and integration of interest for 0FD acconts is not a##licable for FFD

acconts.

nder FFD scheme, #ro!ision of interest at 'arterly inter!als is to be calclated afresh and the amont of

interest so #ro!ided is to be mentioned in the res#ecti!e colmn. 45lease refer to e$am#le7 9imilarly, while

making #rematre closre, fresh calclation of interest on the amont withdrawn is to be made. A 0lose

stdy of the ndernoted e$am#le wold gi!en a clear idea abot the #rocedre to be followed for calclation

of #ro!ision interest and interest #ayment at the time of #rematre withdrawal and final #ayment.

*+am,le

A de#osit of Rs. 1?,???@& has been made nder FFD scheme on +8.?3.+- for 3 years.

Le-ger E@tra+t

ame *r. C>V A@c o. G>@FFD@8@-&

Amt. de#osited Rs. 1?,???@& Date +8@?3@+-

Dration 3- months RO% +1P #.a.

Date of matrity +8@?3@1??1




%$O 'AN

Date Part,+ulars Dr. $r. 'alan+e Interest Interest Pro4,s,on Re/

Pay/ent 8r. en-,ng A/ountH

arBs

+8@3@- "y 1???? 1???? ; 2?@?:@+- 8?:@&G>@FFD@8@-& 2?@?@+- ++1+@&

+?@:@ To 5rematre 2??? ; +=??? 2:3@& 2+@+1@+- +=88@&

Withdrawals

+8@+?@ ;do; 1??? ; +8??? 2+8@& 2+@?2@+ 13?-@&

2?@?:@+ 1:+-@&

+1@3@1??? ;do; 1??? ; +2??? 3+@& 2?@?@+ 21?=

2+@+1+@ 22:8@&

+8@=@1??+ ;do; 1??? ; ++??? =-?@& 2+@?2@1??? 2+:@&

:@++@1??+ ;do; +??? ; +???? 31=@& 2?@?:@1??? 2--:@&

2?@?@1??? 322@&

+8@3@1??1 To final #ayment +???? ; il :?3=@& 2+@+1@1??? 3+8@&

at matrity 2+@?2@1??+ 8381@&

2?@?:@1??+ :??8@&

2?@?@1??+ 88:2@&

2+@+1@1??+ 88?@&

2+@?2@1??1 8=3@&

A00OT 0BO9ED O +8@?3@1??1

9d@ &

Asst *anager

4H

Total amont of %nterest accred till that date 7

%NDERL#ING $AL$%LA!IONS

A) IN!ERES! PA#"EN! &

4i7 1 = 7 = 1 C C C

Rs. =< 6,t*-ra6n re/aturely re/a,ne- 6,t* 'anB or 1 /ont*s an- 27 -ays.

R.O.%. a##licable +?.8?P #.a.

%nterest #ayable at 9im#le rate

2??? $ +?.8 $ +2 23+.18 for +2 months

+?? $ +1

Again 2??? $ +?.8 $ 1: 11.33 for 1: days

+?? $ 2:8

Total 2:2.: 2:3

Ths total Rs. 2:3@& is to be #aid as interest along with the #rematre withdrawal of Rs. 2???@&

on +?@?:@+




%$O 'AN

4ii7 1 = 1 = 1 C C C

Rs. 1???@& withdrawn #rematrely remained with "ank for +- months. R.O.%.

a##licable ; +?.8P #.a.

%nterest 5ayable at sim#le rate

W 1??? $ +?.8 $ +- 2+8.??

+?? $ +1

Ths, Rs. 2+8@& is to be #aid as interest along with the #rematre withdrawal of Rs. 1???@& on

+8@+?@+

4iii7 1 2 = 0 = 2

Rs. 1???@& withdrawn #rematrely remained with "ank for 12 months and 1- days. R.O.%

a##licable ; +?.8P #.a.

%nterest #ayable at sim#le rate

For 12 months 1??? $ +?.8 $ 12 3?1.8?

+?? $ +1

For 1= days 1??? $ +?.8 $ 1- W +:.++

+?? $ 2:8

3?1.8? Q +8.82 3+-.:+ say 3+.??

Ths, Rs. 3+@& is to be #aid as interest along with #rematre withdrawal of

Rs. 1???@& on +1@?3@1???.

4i!7 1 = : = 2 1

Rs. 1???@& withdrawn #rematrely remained with "ank for 2 months. R.O.%.

a##licable ; +1P #.a.


1??? $+1 $ 2 =-?.??+?? $ +1

Ths, Rs. =-?@& is to be #aid as interest along with #rematre withdrawal of

Rs. 1???@& on +8@?=@1??+.

4!7 7 = 1 1 = 2 1

Rs. +???@& withdrawn #rematrely remained with "ank for 31 months and 1+ days. A##licable

R.O.%. ; +1P #.a.


For 31 months +??? $ +1 $ 31 31?.??

+?? $ +1

For 1+ days +??? $ +1 $ 1+ :.? Total 31:.? 4say 31=.??7

+?? $ 2:8

Ths Rs. 31=.?? is to be #aid as interest along with #rematre withdrawal of

Rs. +???@& on ?:@++@1??+.




%$O 'AN

4!i7 1 = 0 = 2 2

Amont of Rs. +?,???@& remained with the "ank for fll #eriod of 3- months. Rae of %nterest

a##licable is +1P #.a., to be com#onded 'arterly Taking the hel# of K*aster 0hart, total

amont of interest to be #aid at matrity i.e. on +8@3@1??1 is Rs. :?3=.??

' . IN!ERES! PROVISION 4R.O.%. +1P #.a.7

4i7 = 7 = 1 C C ;

Rs. 1?,???@& remained with "ank for == days.

Amont of #ro!ision 8?:.2? 4say 8?:.??7

4ii7 = C = 1 C C ;

Rs. 1?,???@& Rs. 8?: ; 1?,8?:@& remained with "ank for a 'arter

Amont of #ro!ision 1?,8?: $ +1

Rs. :+8

3 $ +??

Earlier #ro!ision amont Rs. 8?:@& Q #ro!ision for the 'arter Rs. :+8@&

Rs. ++1+@& total #ro!ision amont

4iii7 1 = 1 2 = 1 C C ;

Rs. 1?,???@& Q Rs. ++1+@& Rs. 1+.+1+@& %nterest accred for the 'arter

W 1+,+1+ $ +1 Rs. :23

3??

Total amont of #ro!ision ++1+ Q :23 +=88@&

i!7 1 = = 1 C C C

Rs. 1?,??? Q +=88 Rs. 1+=88@&

1+,=88 $ +1%nterest Accred for the 'arter Rs. :82@&

3??

Total amont of #ro!ision +=88 Q :82 Rs. 13?-@&

4!7 = 7 = 1 C C C

%n the meantime, Rs. 2???@& has been #rematrely withdrawn on +?@?:@+, lea!ing Rs.

+=,???@& as #rinci#al amont. #to 2+@?2@+ a sm of Rs. 13?-@& was #ro!ided for #rinci#al

amont of Rs. 1?,???.

The #ro!ision amont for Rs. +=???@& till 2+@?2@+ will come to

13?- $ +=?? Rs. 1?3=1????

%nterest accred for the 'arter 4+=??? Q 1?3=7 $ +1

Rs. 8=+@&

3 $ +??

2:8 $ +??

1?,??? $ +1 $ ==



%$O 'AN

4!i7 = C = 1 C C C

%nterest accred for the 'arter 4+=?? Q 1:+-7 +1 Rs. 8-@&

3??Total amont of #ro!ision 1:+- Q 8- Rs. 21?=@&

4!ii7 1 = 1 2 = 1 C C C

%n the meantime, Rs. 1???@& was #rematrely withdrawn on +8@+?@+ lea!ing Rs. +8,???@& as

#rinci#al amont. #to 2?@?@+, a sm of Rs. 21?=@& was #ro!ided for #rinci#al amont of

Rs. +=,???@&.

The #ro!ision amont for Rs. +8,???@& #to 2?@@

will come to 21?= $ 8???

Rs. 1-2?@&

+=???

%nterest accred for the 'arter

Total amont of #ro!ision 12? Q 828 Rs. 22:8@&et amont to be #ro!ided 22:8

21?= Rs. +8-@&

4!iii7 1 = = 2

%nterest accred for the 'arter 4+8??? Q 122:87 +1

3??

Total amont of #ro!ision 22:8 Q 88+ Rs. 2+:@&

828@&

88+@&

4i$7 = 7 = 2

%n the meant i.e. Rs. 1???@& was #rematrely withdrawn on +1@?3@1???, lea!ing Rs. +2???@& as

#rinci#al amont.

# to 2+@?2@1???, a sm of Rs. 2+:@& was #ro!ided for #rinci#al amont of

Rs. +8,???@&

The #ro!ision amont for Rs. +2,???@& # to 2+@?2@1???

will come to 2+: $ +2??

Rs. 223@&

+8???

%nterest accred for the 'arter 4+2??? Q 2237 +1

Rs. 31@&

3??

Total amont of #ro!ision 223 Q 31 Rs. 2--:@&

et amont of #ro!ision 2--: & 2+: ; 2?@&

4$7 = C = 2

4+8??? Q 1-2?7 +1

3??



%nterest accred for the 'arter +2??? Q 2--:7 +1

Rs. 8?=3??

Total amont of #ro!ision 2--: Q 8?= Rs. 322@&*AAB OF %9TR0T%O9 – VOL. 4 (DEPOSITS) PART-I

1 7 4

%$O 'AN

4$i7 1 = 1 2 = 2

%nterest accred for the 'arter

Total amont of #ro!ision 322 Q 811

4$ii7 1 = = 2 1

%nterest accred for the 'arter 4+2??? Q 3+87 +1 3??Total amont of #ro!ision 3+8 Q 82= Rs. 8381@&

4$iii7 = 7 = 2 1

%nterest accred for the 'arter 4+2??? Q 83817 +1

3??Total amont of #ro!ision 8381 Q 882 Q Rs. :??8@&

Rs. 811

Rs. 82=@&

882@&

4$i!7 = C = 2 1

%n the meantime, Rs. 1???@& has been #rematrely withdrawn on +8@?=@1??+, lea!ing Rs.

++,???@& as #rinci#al amont.

#to 2?@?:@1??+, a sm of Rs. :??8@& was #ro!ided for #rinci#al amont of

Rs. +2,???@&

The #ro!ision amont for Rs. ++,???@& till 2?@?:@1??+

:??8 $ +??? Rs. 8?-+@&

+2???

%nterest accred for the 'arter 4++??? Q 8?-+7 +1

Rs. 3-1

3??

Total amont of #ro!ision 8?-+ Q 3-1 Rs. 88:2@&

et amont to be #ro!ided 88:2 ; :??8 ; 331@&

4$!7 1 = 1 2 = 2 1

Frther, on ?:@++@1??+, an amont of Rs. +???@& was withdrawn #rematrely, lea!ing #rinci#al

amont of Rs. +?,???@&

#to 2?@?@1??+, a sm of Rs. 88:2@& was #ro!ided for #rinci#al amont of Rs. ++,???@&

The #ro!ision amont of Rs. +?,???@& till 2?@?@1??+ will come to

88:2 $ +???? Rs. 8?8=++???

3??Rs. 3+8@&

4+2??? Q 3227 +1



%nterest accred for the 'arter 4+???? Q 8?8=7 +1

Rs. 3813??

Total amont of #ro!ision 8?8= Q 381 Rs. 88?@&

et amont to be #ro!ided 88? ; 88:2 ; 83@&

*AAB OF %9TR0T%O9– VOL. 4 (DEPOSITS) PART-I 1 7 5



%$O 'AN

4$!i7 1 = = 2 2

%nterest accred for the 'arter 4+???? Q 88?7 +1 Rs. 3:8@&

3??Total amont of #ro!ision 88? Q 3:8 Rs. 8=3@&

Sta A++ount

9taff members may o#en accont nder the scheme with sal benefits which they are entitled to in rate of

interest, #rematre #ayment and loan against de#osit. "t, while making #rematre #ayment, interest will be

#aid on sim#le basis at a##licable rate.

Loan aga,nst -eos,t

As FFD scheme is aimed at #ro!iding better li'idity to the de#ositor. The de#ositor, in stead of asking for a

loan against their de#osit wold #refer for a #art #rematre withdrawal. owe!er, loan can be granted

against FFD nder sal terms and conditions as wold be a##licable for a!ailing loan against Gber >o(na

accont. A&2- 4R7 form will be sed as a##lication&cm&letter of lien. The #assbook is to be retained at the

"ank with a se#arate discharge certificate, written on a #lain #a#er bearing signatre of the de#ositor across

an adhesi!e stam# of Re. +@&. All other docments are to be obtained and lien marking on the ledger folio and

#ass book are to be made as sal.

Boan is to be granted to the ma$imm e$tent of ?P of #rinci#al and accred interest.

owe!er, if any #rematre withdrawal is re'ested for dring the #endency of loan accont, the #roceeds of

#rematre withdrawal will be a##ro#riated first to li'idate the loan accont and the balance wold be

credited to de#ositor)s accont.

UUUUUUUUUU




%$O 'AN

0 . %$O LA9"I #ONA

4 Reference 0O@DE5@+-@8&: dated 12.?1.+: 7

This is a !ery con!enient de#osit scheme wherein the featres of sa!ings bank accont and a recrring

de#osit accont ha!e been amalgamated. Bike a Recrring de#osit accont, there wold be monthly

instalments, bt nlike Recrring de#osit accont, sch instalments may not be e'al. Any amont between

Rs. 8?@& and Rs. +?,???@& in mlti#les of Rs. +?@& may be de#osited in a month sb(ect to conditions

mentioned in #oint o. 4c7 below. Bike 9a!ings "ank accont, interest at the term de#osit rate wold be

calclated e!ery half year and credited to the accont, bt nlike 9a!ings bank accont, no withdrawal is

#ermitted before matrity.

PERIOD OF DEPOSI!

De#osits wold be acce#ted for #eriods from + year to +? years. owe!er, tenre of the de#osit need not be a

mlti#le of 2 months, as in the case for a normal recrring de#osit accont. The e$act #eriod shold be so

determined that the matrity date of an accont falls on the +st day of the ne$t month after the accont has

com#leted the desired #eriod. For e$am#le, for an accont which is o#ened on 18th *ay +: for a desired

#eriod of 2: months, the e$act #eriod of matrity shold be fi$ed as 2 years and = days so that the date of

matrity falls on +st Hne + instead of 18th *ay +. The #r#ose of this is to #re!ent loss of interest to

the de#ositor which he wold otherwise sffer in the terminal month becase of the mode of calclation of

interest for which the minimm balance between +?th and the last day of the month is taken into accont. For

acconts which are o#ened on the +st of a month this ad(stment of #eriod of matrity wold not be re'ired

since in those case the date of matrity&wold e!en otherwise fall on the +st day of a calendar month. !*e

er,o- o /atur,ty e4en ater su+* a-?ust/ents s*oul- not5 *o6e4er5 e@+ee- 1 years .

PERIODI$I!# OF INS!AL"EN!

Bike a recrring de#osit accont, there wold be one de#osit e!ery month. owe!er, nlike recrring de#osit

accont, there wold not be any #enalty for defalt of monthly instalments. %t may also be noted that nlike

normal recrring de#osit accont, there is no #refi$ed matrity amont in these acconts since the amont

#ayable on matrity wold de#end on the amonts of monthly instalments 4which are !eriable7 de#osited in

the accont. The accont will matre on its de date irres#ecti!e of the nmber of instalments actally

de#osited by the de#ositor. Bike Recrring De#osit acconts, there wold be no withdrawal before matrity

4or before #rematre encashment, if any7 in these acconts.

%f in an accont, monthly instalments ha!e not been de#osited for a continos #eriod

of 3 months, a notice shold be sent to the de#ositor re'esting him to clear his monthly

instalments. %t shold be mentioned in the notice that if the defalt occrs for a continos




%$O 'AN

#eriod of : months, the "ank will ha!e no o#tion bt to close the accont. On the com#letion of : months of

continos defalt, the accont shold be closed and the amont with admissible interest thereon shold

either be credited to the de#ositor)s 9a!ings@0rrent accont nder ad!ice to him or a 5ay Order@Demand

Draft shold be sent to the last known address of the de#ositor.

A"O%N! OF "ON!HL# INS!AL"EN!

nlike a normal recrring de#osit accont, the monthly instalments may not be e'al. owe!er, all monthly

instalments wold necessarily be a mlti#le of Rs. +?@& with the sti#lation that the instalments de#osited in

any month wold be any amont between Rs. 8?@& and Rs. +????@&4both inclsi!e7. owe!er, at the time of

o#ening the accont, the de#ositor shall ha!e to s#ecify the minimm amont he wold de#osit in a month

4the minimm amont to be so s#ecified mst not be below Rs. 8?@&7 and the ma$imm amont which hecold de#osit in a month shall not e$ceed +? times of the minimm amont, sb(ect to ma$imm amont of

Rs. +?,???@&

IN!ERES! $AL$%LA!ION

%nterest shall be a##lied at a niform rate a##licable for the #eriod for which the accont has been o#ened as

#er the interest rate strctre for domestic term de#osits effecti!e on the date of o#ening of the accont.

%nterest shall be calclated on the basis of monthly #rodcts reckoned on the minimm balance in the

accont between the +?th and the last day of the month. Ths, the #rocedre wold be identical to thatfollowed for sa!ings bank acconts.

<oing by the abo!e #rocedre in the e$am#le referred to abo!e, the accont will not earn interest for the

month of *ay +:, nor for the month of *ay +. %n order to a!oid sch loss of interest to the de#ositor in

the terminal month the #eriod of the de#osit shold be so fi$ed that the de date 4the date on which the

accont com#letes the contracted #eriod falls on the first of the ne$t month 4within the o!erall ceiling of +?

years7. Ths, in the e$am#le gi!en abo!e, the de#osit shold be acce#ted for a #eriod of 2 years and = days

so as to fall de on +st Hne +.

PA#"EN! OF IN!ERES!

%nterest as e$#lained abo!e wold be calclated e!ery half year at half yearly closing and wold be credited

to the accont as is done in the case of sa!ings bank acconts.

LOAN AGAINS! !HE DEPOSI!

Boan # to ?P of the de#osit amont otstanding may be granted at an interest rate of 1P #.a. abo!e the

de#osit rate for loans # to Rs. 1 lakhs. For loans abo!e Rs. 1 lakhs, the rate




%$O 'AN

of interest wold be the 5BR or 1P abo!e the de#osit rate whiche!er is higher. sal docments like A&+ or

A&1, A&3=, D&3- may be taken from the de#ositor at the time of granting loan. A Recei#t, discharged on a

re!ene stam#, shold also be taken along with the relati!e 5ass "ook and shold be ke#t with other

docments as is done in case of loans against de#osit.

PA#"EN! 'EFORE "A!%RI!#

5ayments before matrity may be considered affording interest at +P below the rate a##licable for the #eriod

for which the de#osit has actally rn. *ethodology to be a##lied for #rematre #ayment is as nder.

%f an accont, which has been o#ened for 8 years at the rate of +2P #.a. on +8th *ay +:, #rematre

#ayment is re'ested on +st Hne +=, interest will ha!e already been credited to the accont half yearly in

9e#tember, +: and *arch +=, at the rate of +2P #.a. 9ay, the total of sch interest amont comes to Rs.

8??@&. "ecase of #rematre #ayment, the rate of interest #ayable on the accont wold be ++P #.a.

4assming that the a##licable rate for + year to 1 years to be +1P #.a. and redcing the same by +P #.a. as

#enalty for #rematre withdrawal7. Ths the actal amont to be #aid # to *arch += wold be Rs. 48?? $

++@+27 Rs. 312@&. To this, the interest for the months of A#ril and *ay += at the rate of ++P #.a. will

ha!e to be added to arri!e at the final amont to be #aid to the de#ositor. E$cess amont of interest, if any

credited to the accont shold be reco!ered at the time of #rematre #ayment.

S!AFF A$$O%N!

sal benefits a!ailable to the staff members in regard to the interest rate on the de#osit as well as on the

margin and interest rate on loan granted against the de#osit wold be a##licable in this case also.

HEAD OF A$$O%N! IN GENERAL LEDGER5 'OOS !O 'E EP! AND A$$O%N!ING

PRO$ED%RE

A se#arate head shold be o#ened in <eneral Bedger by the name of 0O BAG9*% >OHA. All

transactions in these acconts shold be !oched accordingly. *onthly balancing as is done in the case of

other de#osit schemes shold also be done for these acconts. E$isting 9a!ings bank ledger books can be

sed for kee#ing ledger acconts of 0O BAG9*% >OHA as interest calclation etc. wold be on the

same lines as those a##licable to sa!ings bank acconts. At the to# of the ledger folio, besides accont

nmber, name and address of the de#ositor and the tenre of the de#osit as also the de date shold be

mentioned. 9a!ings "ank accont, 5ass "ook can be con!eniently sed for this ty#e of acconts also.

%nterest #aid on sch de#osits shold be debited to K%nterest 5aid on 0O BAG9*% >OHAA accont

which wold be new head in 5@B 9bsidiary Bedger. For monthly de#osits, #ay&in&sli#s sed




%$O 'AN

for normal recrring de#osit acconts may be made se of. A se#arate head shold be o#ened in Accont

O#ened and 0losed register for acconts nder 0O BAG9*% >OHAA and accont nmber may be

#refi$ed for sffi$ed by B> for easier identification.

ELIGI'ILI!# AND !ARGE! GRO%P

"ranches will obser!e that nlike normal recrring de#osit, the monthly instalments are !ariable in this

scheme. This shold be hel#fl for those de#ositors whose monthly income is !ariable and for whom

de#ositing a fi$ed amont e!ery time, as it re'ired in the case of normal recrring de#osit accont, may be

somewhat incon!enient in #articlar de#ositors is rral and semi rban areas may come nder this category

where many of the de#ositors will belong to non salary earning gro#. They can !ary the instalment amont

to be de#osited in any #articlar month de#ending on the amont that can be sa!ed in that month. This

im#arts considerable fle$ibility to the scheme.

%ndi!idals inclding minors and associations of #ersons not engaged in any #rofit making !entre wold be

eligible to o#en acconts nder this scheme.

A$$O%N! OPENING FOR"

The Accont O#ening Form D9&+A 40ombined7 to be sed for o#ening accont nder 0O BAG9*%

>OHAA by indi!idals. The form is to be sed for de#ositors other than %ndi!idal4s7 de#ositors as #er

Anne$re&% 45age&337.

UUUUUUUUUU




%$O 'AN

. %$O !A9 SAVER DEPOSI! S$HE"E 27

The "ank has lanched the scheme J0O "ank Ta$ 9a!ers 9cheme 1??:) to mobilise term de#osits from

de#ositors who are also %ncome&ta$ #ayers and wold like to a!ail dedction nder 9ection -?0 of the

%ncome&ta$ Act +:+. nder the said Act, de#osit made with a schedled bank for fi!e years or more #to a

ma$imm limit of Rs. + lac is eligible for dedction from the assessment year 1??-&?.

El,g,3,l,ty &

A de#osit nder the 9cheme may be o#ened by 4i7 An indi!idal for himself 4ii7 ind ndi!ided Family

4iii7 Hointly by two adlts or (ointly by an adlt and a minor, and #ayable to either of the holders or to the

sr!i!or. owe!er, in the de#osits in (oint names, the benefit nder section -?0 of the %ncome ta$ shall be

a!ailable only to the first holder of the de#osit.

Per,o- o -eos,t

The #eriod of de#osit nder the scheme shall not be less than 8 years from the date of de#osit, sb(ect to a

lock in #eriod of 8 years. The ma$imm #eriod of de#osit shall howe!er be as #er the e$tant term de#osit

rle of the bank. The term de#osit nder the scheme shall not be encashed before the e$#iry of 8 years from

the date of the de#osit. %n res#ect of Term De#osit for a #eriod longer than 8 years, #rematre encashment

may be allowed after a #eriod of 8 years, sb(ect to the #re!ailing rles for #rematre #ayment.

Rate o Interest

The rate of interest #ayable will be at the #re!ailing rate for sch de#osits as ad!ised by O from time to

time. 9enior citizens, members of staff, e$&staff and e$&staff senior citizen may be allowed additional interest

o!er and abo!e the #re!ailing rate and sch additional rates shall be ad!ised from time to time. The interest

may be com#onded and #aid in a lm# sm at the time of matrity or it may be #aid e!ery 'arter@month in

accordance with the e$tant gidelines for #ayment of interest on term de#osit. The interest #ayment on

monthly basis shold be at the disconted rate. Where the interest is com#onded and #aid at matrity, the

term de#osit recei#t shall bear the annalised rate of retrn on the de#osit.

Pro+e-ure or oen,ng t*e a++ount

The e$tant gidelines regarding o#ening of Term De#osit acconts shall be followed. %n addition, de#ositor

shall be re'ired to #ro!ide his %ncome&ta$ #ermanent accont nmber 45A7 and com#lete address in the

a##lication form. The accont shall be o#ened in Term De#osit nder a code ; J0O Ta$ 9a!er De#osit

9cheme 1??:). A se#arate serial nmber shold also be gi!en to all de#osit acconts o#ened nder the

scheme. 9#ecial remarks reading as JAcconts




%$O 'AN

nder 0O Ta$&9a!er De#osit 9cheme 1??:&#rematre #ayment not allowed before e$#iry of 8 years)

shold be entered in com#ter system to gard against #ayment within the lock&in #eriod.

Issuan+e o ter/ -eos,t re+e,t

The de#ositor shall be issed a term de#osit recei#t on the bank)s Fi$ed De#osit@Gber >o(ana Recei#t. %n

addition to the sal #articlars, the fll address of the de#ositor and his 5A nmber shall also be

mentioned in the recei#t. A rbber stam# containing the additions may be affi$ed at an a##ro#riate #lace on

the de#osit recei#t itself. All Accont O#ening forms shall be stam#ed as aforesaid and the s#ecimen

signatre cards shold be stam#ed with K0O Ta$ 9a!er De#osit 9cheme 1??:. 9ch AOFs as also the

res#ecti!e s#ecimen signatre cards shall be serially nmbered and ke#t in a se#arate file in serial order.

No/,nat,on

The single holder or the (oint holders of a de#osit nder the scheme may, by filling in the #rescribed format

nominate any #erson who, in the e!ent of the death of the single holder or both the (oint holders, as the case

may be, shall become entitled to the de#osit and to recei!e #ayment thereon. 9ch nomination can be made

at the time of making the de#osit or at anytime after making the de#osit bt before its matrity. omination

facility shall not be a!ailable nder scheme in res#ect of a de#osit held by or on behalf of a minor.

!ranser o -eos,t to anot*er 3ran+*

The term de#osit made nder the scheme may be transferred by the de#ositor4s7 from one branch to another

branch by making a re'est in writing at either of the two branches. 9ch term de#osit shall, howe!er, not be

transferred to another bank. E!ery re'est for transfer shall be signed by the holder or all the holders of the

term de#osit in case of (oint de#osit.

Loan aga,nst t*e -eos,t

o loan shall be granted against Term De#osit nder the scheme. 9ch de#osits shall also not be #ledged to

secre loan or as secrity to any other asset.

Issue o Dul,+ate Re+e,t ,n l,eu o lost !er/ Deos,t Re+e,t

The #rocedre for isse of d#licate recei#t in res#ect of term de#osit recei#ts lost, stolen, mtilated or

defaced shall +"tatis +"tandis a##ly to de#osit made nder the 0O Ta$ 9a!er De#osit 9cheme 1??: also.

Pay/ent to No/,nees=legal *e,rs

The nominee shall be entitled to recei!e #ayment of the term de#osit recei#t at any time




%$O 'AN

before or after the matrity of the term de#osit in the e!ent of death of the holder of the term de#osit for

which a nomination is in force. The #rocedre for sch #ayment shall be the same as that for other de#osit

held with the bank and nomination made as #er rles.

Pay/ent to legal *e,rs

%f the holder of term de#osit dies and there is no nomination in force at the time of his death, the branch #ay

the sm de to the deceased, to his legal heir in accordance with the e$tant gidelines for settlement of

claims of the legal heirs of the Deceased Accont olders 4"ank)s 0irclar Ref. o. 0O@Baw@?8@1??3

dated +2@?=@1??3 and as may be amended from time to time7.

De-u+t,on o In+o/e<ta@

%nterest on the term de#osits nder this scheme shall be liable to ta$ nder the %ncome Ta$ Act, on the basis

of annal accral or recei#t by the de#ositor. The branch shall dedct %ncome ta$, if sch interest e$ceeds Rs.

8??? in a year in accordance with the #ro!isions of 9ection +3A or 9ection +8 of the Act, as the case may

be. owe!er, if the de#ositor frnish declaration in Form +8< or +8, the branch may not dedct ta$ from

the interest on the term de#osit accred@#aid.

"o-,,+at,on=Rela@at,on ,n t*e S+*e/e

The <eneral <o!ernment may, by order modify@rela$ the re'irements of any or more of the #ro!isions of

the "ank De#osit 9cheme 1??: and the scheme will stand modified to that e$tent.

A++ount,ng=Reort,ng "on,tor,ng o t*e S+*e/e

The e$tant #rocedral gidelines in res#ect of Term De#osit Acconts 4FDR 6 G> Accont7 shall also a##ly

for the de#osit accont o#ened nder the scheme.

The branch shold frnish to their Regional Offices a re#ort on a 'arterly basis the nmber of acconts

o#ened nder the scheme in a format containing the following information

a7 mber of A@cs at the end of the 'arter.

b7 "alance otstanding at the end of the 'arter.

c7 o. of new a@cs o#ened dring the 'arter.

d7 Amont of de#osit in the new a@cs.

UUUUUUUUUU




%$O 'AN

7 . SPE$IALS DEPOSI! S$HE"E FOR SENIOR $I!IENS

The 9#ecial De#osit 9cheme for 9enior 0itizens was offered by or "ank with effect from +3@?8@1??+.

Sen,or $,t,Jen

A resident %ndian, ha!ing attained the age of :? years is termed as J9enior 0itizen) for the #r#ose of the

scheme.

Age of the cstomers, entitled to the s#ecial benefits 4%ncenti!es7 nder the scheme is to be !erified at the

following #oints of time.

+7 At the time of o#ening of a new term de#osit accont at the branch.

17 At the time of renewal of an e$isting term de#osit accont, if the de#ositor is otherwise entitled to the

s#ecial benefits nder the scheme and if the renewal takes effect from a date on or after +3@?8@1??+.

Do+u/ents ro/ 6*,+* age ,s to 3e 4er,,e-

"ranches shold satisfy abot the age by !erifying any of the following docments.

+7 9econdary 9chool Bea!ing 0ertificate

17 B%0 5olicy

27 /oter %dentity 0ard

37 5ension 5ayment Order

87 "irth certificate issed by com#etent athority

:7 5ass#ort

=7 Any other docment acce#table to the "ank.

Su3se>uent 4er,,+at,on o age

Once the age of the 9enior 0itizen is !erified for acce#ting de#osit@renewing e$isting de#osit nder the9#ecial De#osit 9cheme, branches shold not seek #roof of age at a sbse'ent stage i.e. for renewal of the

de#osit accont or for acce#ting fresh de#osits from the same de#ositor nder the scheme.

Deos,t A++ounts5 6*ere t*e In+ent,4es are a4a,la3le

+7 %t mst be term de#osit accont, regardless of size of de#osit and regardless of #eriod of de#osit

45lease see #oint no + %ncenti!es "pra7

17 The de#osit accont mst be in the name of a Resident 9enior 0itizen.




%$O 'AN

27 The de#osit acconts, which are o#ened on or after +3@?8@1??+ or

The de#osit acconts, which are the renewals of e$isting term de#osit acconts and the date of renewal takes

effect from +3@?8@1??+ or any other date thereafter.

!reat/ent o o,nt Deos,tors

J%ncenti!es) nder the scheme is a!ailable in a (oint accont 4regardless of instrctions like JEither or

9r!i!or,) JFormer or 9r!i!or) etc.7 where minimm one of the de#ositors is a Resident 9enior 0itizen

#ro!ided that the name of sch Resident 9enior 0itizen a##ears as the +st named de#ositor in the accont.

1 . A--,t,onal Interest In+ent,4es &

(a) For Sen,or $,t,Jens &

For all term de#osits 4domestic@RE7, from 9enior 0itizens of age :? years and abo!e,

regardless of size of de#osits, an additional interest of ?.=8 #er cent o!er the normal rate of

interest is crrently being #aid on all matrities. This will be a##licable for fresh term de#osits

and renewals.

The 'antm of additional interest rate and the #eriod of de#osit, for which it is a##licable, is

sb(ect to change as #er O gidelines.

(3) For Ret,re- Sta "e/3ers 6*o ,s also a Sen,or $,t,Jen &

%t has been decided by the "ank to e$tend the benefit in the rate of interest for being senior

citizens to e$&staff members with effect from +st

*arch 1??8. The rate a##licable to them will

be as follows.

Per,o- o Deos,t Nor/al Sta As a Sen,or !otal In+ent,4e

Pr,4,lege $,t,Jen Interest

1; -ays to less t*an years 1 . K . 21K 1 . 2K

years an- a3o4e 1 . K . 1K 1 . K

owe!er, the abo!e incenti!e interest is a##licable to a ma$imm amont of Rs. 18 lakhs #er e$&staff

member.

2 . Auto/at,+ !ranser to No/,nee

For this s#ecial de#osit scheme for senior citizens, there will be atomatic transfer of de#osits to the

nominees of sch de#ositors in the e!ent of death of the de#ositors. 9o, nomination mst in!ariably be

taken from the de#ositors nder the scheme.

. a,4er o Penalty or re/ature 6,t*-ra6al

o #enal interest will be le!ied 4i.e. redction of interest rate by +P7 for #rematre




%$O 'AN

withdrawal of term de#osits nder the scheme. owe!er, interest rate a##licable in case of #rematre

withdrawal will be the rate as #re!ailing at the time of o#ening the accont as a##licable to the senior

citizens, for the #eriod the de#osit actally retained by the branch.

0 . Free Re/,ttan+e Fa+,l,ty

De#ositors nder the s#ecial de#osit scheme can remit # to Rs. 8???@& 4R#ees fi!e thosand only7

#er month withot #aying any commission to "ank. owe!er, to a!ail this free remittance facility, the

fnds to be remitted mst be roted throgh the de#ositors) crrent or sa!ings accont, maintained

with the branch.

UUUUUUUUUUU




%$O 'AN

: . FLOA!ING RA!E DEPOSI! S$HE"E

%t has been decided to introdce a new de#osit 9cheme called 0O Floating Rate De#osit 9cheme where the

interest rate will be refi$ed at half&yearly inter!als by linking the same to a reference rate. Details of the

scheme are gi!en below.

1 . Na/e o t*e S+*e/e &

0O FBOAT%< RATE DE5O9%T 90E*E

2 . Na/e o t*e ,nstru/ent &

0O FBOAT%< RATE DE5O9%T RE0E%5T

. Nature o t*e S+*e/e &

Fi$ed De#osit with Floating Rate interest, where interest can be #aid on 'arterly 4Reglar %ncome7 or

cmlati!e basis.

0 . El,g,3,l,ty &

9ame as that for ordinary Fi$ed De#osit@0mlati!e Fi$ed De#osit.

. A/ount o Deos,t &

Rs. +??,???@& or its mlti#le

7 . Per,o- o Deos,t &

2 years 4minimm7, 8 years, or +? years 4ma$imm7

: . !a@ De-u+t,on at Sour+e &

9ame as ordinary Fi$ed De#osit@0FD.

; . A++ount,ng Pro+e-ure &

Acconting #rocedre for 0O Floating Rate De#osit with 0mlati!e O#tion will ha!e the same

acconting #rocedre as that of 0mlati!e Fi$ed De#osit. For non&cmlati!e Reglar %ncome

O#tion, acconting #rocedre will be same as that of ordinary Fi$ed De#osit.

9e#arate heads shold be o#ened in <B styled 0FD 4FRD7 for cmlati!e category and FD 4FRD7 for

ordinary Fi$ed De#osit category. 0FD 4FRD7 shold be maintained in a se#arate 0FD Register cm

Bedger. FD 4FRD7 shold be maintained in se#arate Fi$ed 6 Time De#osit Register and Bedger.

9e#arate 5B 9bsidiary heads shold be o#ened in res#ect of #ro!ision@interest #ayment of 0FD

4FRD7 and FD 4FRD7.

Re#orting in A0T&+ shold be made by clbbing 0FD 4FRD7 with 0FD and FD 4FRD7 with Fi$ed and

Time De#osit. Details of sch acconts are to be frnished on the back of A0T&+.




%$O 'AN

C . Rate o Interest &

The interest rate on sch de#osit will be re!ised at half&yearly inter!al by linking to the 2 year de#osit

rate as #re!ailing on +st A#ril and +st October e!ery year 4#ls differential interest for 9enior

0itizen@staff&member, if a##licable7 and the rate so deri!ed will be a##licable on the de#osit # to 2?th

9e#tember@2+st *arch of the year, as the case may be. The de#ositor will be ad!ised of sch change in

rate of interest.

D,erent,al Rate o Interest or Sen,or $,t,Jens an- sta</e/3ers &

For 9enior 0itizens Additional ?.8?P

For staff members Additional +.??P

1 . Pre/ature ay/ent &

%n case of #rematre #ayment, the a##licable interest@#enalty will be as nder

i7 # to +3 days o interest

ii7 *ore than +3 days, # to one year 9" rate.

iii7 *ore than one year # to two years 9" rate Q ?.8?P

i!7 *ore than two years # to three years 9" rate Q +.??P

!7 if the de#osit has remained with the "ank for more than three years, #enalty will be charged

X8?P on the #rinci#al amont for the #eriod the de#osit remained with the "ank or the

remaining #eriod of matrity of the de#osit, whiche!er is less.1 1 . Loan aga,nst Deos,t &

Rles a##licable will be the same as that of ordinary Fi$ed De#osit nder 'arterly %nterest

scheme@0FD, sa!e and e$ce#t that the interest to be charged on the Boan accont 4linked to de#osit

rate7 will be changed in tne with the change effected in de#osit&rate, nder ad!ice to the borrower.

N.'. & The "ank reser!es the right to modify@change these rles at any time and dis#lay of sch changes by

#tting # a notice in "ranch 5remises, shall be deemed as commnicated and binding on the

de#ositor.

Pro+e-ural Gu,-el,nes or Float,ng Rate Deos,ts

The broad featres of Floating Rate De#osit 9cheme ha!e been ad!ised to all offices and branches !ide

0irclar o. 0O@DE5@?1@?2&?3 dated ?-.?3.1??2. The following #rocedral gidelines are to be followed

by the branches for handling Floating Rate De#osits.

A. F,@at,on o Interest rate &

The interest rate initially a##licable will be the same as that for three&year fi$ed&rate de#osit as rling

on the date of o#ening of the accont. Thereafter the interest rate will




%$O 'AN

be refi$ed at the rate a##licable to three&year fi$ed&rate de#osit as #re!ailing on +st A#ril and +st

October e!ery year.

*+am,le

A Floating Rate De#osit 4FRD7 for Rs. +??,???@& is o#ened on 1-.?8.1??2. Another Floating Rate

De#osit 4FRD7 for Rs. 8??,???@& is o#ened on +1.?-.1??2.

Bet the three&year de#osit rate for fi$ed&rate de#osits be as nder

As on 1-.?8.1??2 :.18P

On and from +1.?=.1??2 :.??P

On and from +-.+1.1??2 8.=8P

Then the initial interest rate on Floating Rate De#osit o#ened on 1-.?8.1??2 is :.18P. And the

initial interest rate on Floating Rate De#osit o#ened on +1.?-.1??2 is :.??P.

The abo!e rates will contine # to 2?.?.1??2. Rate of interest will be reset as on ?+.+?.1??2. The

rate a##licable on both the de#osits with effect from ?+.+?.1??2 will be the same as that for three&year

fi$ed rate de#osit as rling on ?+.+?.1??2 :.??P. This rate will contine from ?+.+?.1??2 # to

2+.?2.1??3 and will be reset to 8.=8P w.e.f. ?+.?3.1??3.

%t may be noted that all Floating Rate De#osits issed # to the date of resetting 4+st A#ril@+st October7

will bear the same interest rate after resetting, irres#ecti!e of date of o#ening or term of the de#osit.

' . $al+ulat,on o ro4,s,ons or FRD un-er +u/ulat,4e s+*e/e &

The calclation of #ro!ision will be different from that a##licable to fi$ed rate 0FD, since the change

in interest rate has to be taken into accont. The nder noted method is to be followed

Floating Rate De#osit for Rs. +?????@& o#ened on 1-.?8.1??2.

%nitial rate of interest :.18P.

5ro!ision # to 2?.?:.1??2 W

+????? $ 23 4days7 $ :.18

Rs. 8-1@&2:8 $ +??

5ro!ision # to 2?.?.1??2 Rs. 8-1@& Q+??8-1 $ :.18

Rs. 8-1@& Q

Rs. +8=1@& Rs. 1+83@&.3 $ +??

%nterest rate as on ?+.+?.1??2 :P.

5ro!ision # to 2+.+1.1??2 Rs. 1+83@& Q +?1+83 $ : Rs. 1+83@& Q

Rs. +821@& Rs. 2:-:@&.3 $ +??




%$O 'AN

5ro!ision # to 2+.?2.1??3 Rs. 2:-:@& Q +?2:-: $ : Rs. 2:-:@& Q

Rs. +888@& Rs. 813+@&.3 $ +??

5ro!isions are to be recorded in the "alance "ook as #rescribed for 0FD.

This amont will be credited to de#ositors) accont and TD9, if any, dedcted from the accont as #er

gidelines for 0mlati!e Fi$ed De#osits.

$. Re+or-,ng ,nterest ay/ents un-er Regular In+o/e s+*e/e &

For FRD nder Reglar %ncome 9cheme, a se#arate Fly&Beaf ha!ing the following format may be

sta#led with the De#osit Recei#t, if the de#ositor so desires

Date o ay/ent Interest or 8uarter en-,ng A/ount o ,nterest In,t,als

D. Re+or-,ng o Interest rates &

The interest rates a##licable to the #ortfolio are to be chronologically listed in a se#arate #age of the

FRD 4Reglar %ncome7 Register@0FD 4FRD7 Register&cm&Bedger in the manner

Date Rate al,+a3le

?+.?3.1??2 :.18P

?+.+?.1??2 :.??P

?+.?3.1??3 8.=8P, and so on.

E. $on4ers,on &

For con!erting a fi$ed rate FD@G> into FRD, the de#ositors will a##ly in writing along with the

e$isting FD@G> recei#t and the A.O.F. and relati!e #a#ers for Floating Rate De#osit dly filled in. The

e$isting FD@G> de#osit will be #rematrely closed bt no #enalty will be charged for sch #rematre

closre. Then the Floating Rate De#osit accont will be o#ened as a new de#osit.

F. No/,nat,on &

%f the de#ositor chooses the o#tion, as #ro!ided for in the AOF 4De#ositor)s %nstrction #art7, for

marking of omination Registration mber on the FRD Recei#t, sch marking will be made on the

Recei#t.

*AAB OF %9TR0T%O9 – VOL. 4 (DEPOSITS) PART -I 1 9 0



%$O 'AN

G. Loans &

Boans against FRD will be allowed nder the same conditions as a##licable to normal fi$ed de#osit

e$ce#t for the resetting of interest on loan in tandem with the resetting of interest on the de#osit with

effect from +st A#ril@+st October e!ery year.

H. O4er-ue Deos,t &

Rles for renewal of o!erde Fi$ed De#osit 4Floating Rate7 will be the same as that of normal Fi$ed

De#osits.

I. Des,gnate- 3ran+*es &

The scheme is im#lemented throgh designated com#terized branches only. "ranches may

a##roaches .O. D%T for necessary software s##ort for this #rodct.




*A D EAB OF % D 9 T R

E 0 T % O D 9 – V OL . 4 ( DEP O SIT S ) PART-I

1

9

2

%$O 'AN FOR OFF%0E 9E

0ertificate o. 0ash@Transfer 9croll o.

"ranch 0stomer %D o.

$re-,t $FD (FRD) = FD (FRD) A=$.

%@We re'est yo to isse me@s a 0O FBOAT%< RATE DE5O9%T RE0E%5T nder 0mlati!e@Reglar %ncome 9cheme in

consideration of the amont de#osited by me@s for a #eriod of years.

%@We ha!e read and nderstood the rles of the said De#osit 9cheme and agree to be bond by them as now in force and also to any

change that may be made in ftre.

Fll ame in block letters Age Residential Address with Tel. o. Occ#ation 5A@<%R o.

+. .........................................

1. .........................................



2. .........................................

Amont %nstrction for Whether de date

Amont 4in words7 4in figres7 o#eration notice to be sent

>es @ o

Rate of interest on date of o#ening Iarterly interest to be credited to 49"@0D7 a@c.

4For Reglar %ncome 9cheme7.

5lease frnish details of interest #ayments by affi$ing a fly&leaf to the De#osit Recei#t >E9@O 4For Reglar %ncome 9cheme7. Declaration

for e$em#tion from TD9 Form +8& sbmitted herewith 4 stri'e o"t if not applica*le7

+ ............................................................. 1 .................................................................. 2 ...............................................................

ignat"re of 1st applicant ignat"re of 2nd applicant ignat"re of 3rd applicant

................................................................... ..................................................................... .................................................................

ignat"re of !"thorised fficial ignat"re of ecei-ing ashier ignat"re of !sstt. anager (ash%

0OTERFO%B

%$O 'AN

.. "ranch

0ash@Transfer 9croll o. Date

Recei!ed with thanks from

9hri@9mt. ....................................

.....................................................

.....................................................

a sm of R#ees ......................

.....................................................

........................... Rs. ..................

........................... as de#osit for issance of 0O FBOAT%<

RATE DE5O9%T RE0E%5T.

ignat"re of ecei-ing

ashier

ignat"re of !sstt. anager (ash%



% $ O 'A N(

*A D EAB OF % D 9 T R E 0 T % O D 9 – V OL . 4 ( DEP O SIT S ) PART-I

IN!ROD%$!IONH

% certify that % know the abo!e a##licant@a##licants #ersonally for #ast

months@ years and confirm his@her@ their occ#ation@ occ#ations and address@addresses

as stated abo!e.

....

ame of the %ntrodcer Address of the %ntrodcer A@c. o. Date 9ignatre of the %ntrodcer

H ot re'ired if the de#ositors ha!e other dly introdced A@c.

4mention details7.


0stomers #rofile

+. 4a7 Details of occ#ation ....................................................................................................................................................................

Office@bsiness address ...............................................................................................................................................................

4b7 Annal income ............................. 4c7 . Residential stats Owned@rented@com#any #ro!ided. 4c7 !ehicle owned yes@no.

1. 4a7 Details of occ#ation ....................................................................................................................................................................



2. 4a7 Details of occ#ation ....................................................................................................................................................................





% $ O 'A N(

1

9

3

FOR ILLI!ERA!E PERSONS A$$O%N!

The *anager, 0O "ank Date

"ranch

Dear 9ir,

9b *y Floating Rate De#osit Accont

The content of the Accont O#ening Form and the rles of the "ank regarding Floating Rate

De#osit Accont in force for the time being has been e$#lained to the de#ositors and flly nderstood

by him@her and he@she affi$ed his@her left@right thmb im#ression herender in my #resence in token

thereof.

Beft@right thmb im#ression of the de#ositor 9ignatre

%lliterate #ersons

identification

marks ................

..........................

.

..........................

.

..........................

.

9ignatre of

Athorised

Official



%$O 'AN

1. As the nominee is a minor on this date, %@We a##oint 9hri@9mt.@Gmari

4 Na+e, !ddress

!ge7 to recei!e the amont on behalf of the nominee in the e!ent of my@or@minors death dring the minority of the

nominee.

ame4s7 of witness4es7 Address4es7 of witness4es7

+. ................................................................................. +. ................................................................................

1. ................................................................................. 1. ................................................................................

2. ................................................................................. 2. ................................................................................

+ ................................................................................. ................................................................................

ignat"re of )itness

1. ................................................................................. ................................................................................

ignat"re of )itness ignat"re 0 th"+* i+pression of depositor(s%

Where de#osit is made in the name of a minor, the nomination shold be signed by a #erson lawflly entitled to

act on behalf of minor.

$. 5lease mark the fact of nomination on the De#osit Recei#t >E9 @ O

+ 1 .. 2 ...

ignat"re of 1st applicant ignat"re of 2nd applicant ignat"re of 3rd applicant

FOR OFFI$E %SE &

%nstrctions oted.

omination Registration o. ................................................

0stomer %D o. .....................................................................

5hotogra#h affi$ed with 9#ecimen 9ignatre 0ard@ o #hotogra#h obtained as the same is a!ailable in de#ositors

A@0. bearing o. .

9e#arate introdction obtained and letter of thanks sent to introdcer on

@ 9e#arate introdction has not been called for as the de#ositors ha!e dly introdced

A@0. bearing o. .

!sstt. anager anager






%$O 'AN

%$O FLOA!ING DEPOSI!

RE$EIP!

0OTERFO%B

O. ...........................................................

DATE ........................................................

A*E ......................................................

..................................................................

A*OT ................................................

5ER%OD ......................................... years

DE DATE ..............................................


otice of withdrawal gi!en on 9b(ect to Ta$ Dedction at 9orce

Date of *atrity $ontrol No.

%$O 'AN o.

"RA0 OT TRA9FERA"BE Date of %sse



%$O FLOA!ING RA!E DEPOSI! RE$EIP!

Recei!ed with thanks from ............................................................................................................................

a sm of Rs. .................................. 4R#ees .......................................................................................... only7

to be ke#t nder %$O FLOA!ING RA!E DEPOSI! 0*BAT%/E @ RE<BAR %0O*E 90E*E of the "ank

carrying interest at floating rate, for a #eriod of years to be o#erated

. Rate of interest on date of isse P to be refi$ed as #er scheme.


% $ O 'A N(

1

9

6

*A D EAB OF % D 9 T R E 0 T % O D 9 – V OL . 4 ( DEP O SIT S ) PART-I

R%LES OF '%SINESS

1 . El,g,3,l,ty & One or more indi!idals, 5ro#rietorshi# 0oncern, 5artnershi# Firm,

Hoint 9tock 0om#any, ..F., Trst, Bocal "ody, 9ociety, 0lb, <o!ernment

De#artment@0or#orate@ndertaking or bank, a##ro!ed by the "ank.

2 . A/ount o Deos,t & Rs. +??,???@& or its mlti#le.

. Per,o- o Deos,t & 2 years 4minimm7, 8 yeas or +? years 4ma$imm7.

0 . Nature o Deos,t & A!ailable in both Reglar %ncome !ersion where 'arterly

interest wold be #aid ot, or in the 0mlati!e !ersion where the interest will be

com#onded at 'arterly inter!als.

. Rate o Interest an- re,@,ng -ates & The rate of interest will be the same as 2

years de#osit rate. The interest rate wold be re!ised at half&yearly inter!al by

linking to the 2 year de#osit rate as #re!ailing on +st A#ril and +st October e!ery

year 4#ls differential interest for 9enior 0itizen@staff&member, as a##licable7 and

the rate so deri!ed wold be a##licable on the de#osit # to 2?th 9e#tember@2+st

*arch of the year, as the case may be.

7 . Pre/ature Pay/ent & %n case of #rematre #ayment, the a##licable

interest@#enalty wold be as nder

4i7 # to +3 days o interest.

4ii7 *ore than +3 days, # to one year 9" rate

4iii7 *ore than one year # to two&years 9" rate Q ?.8?P.

4i!7 *ore than two years # to three years 9" rate Q +.??P.

4!7 %f the de#osit has remained with the "ank for more than three years, #enaltywold be charged X?.8?P #er annm on the #rinci#al amont for the #eriod

the de#osit remained with the "ank or the remaining #eriod of matrity of the

d

e

#

o

si

t,

w

h

ich

e

!

e

r

is

le

s

s.

: .

L

o

a

n

s=



% $ O 'A N(

1

9

7



%$O 'AN

; . %$O SANEEVAN 'I"A #ONA

The "ank has entered into an Agreement with the Bife %nsrance 0or#oration of %ndia 4B%0%7 for #ro!iding

an o#tional One Term <ro# %nsrance 0o!erage to its indi!idal 9a!ings "ank and crrent Accont

holders. nder the agreement "ank will act as K*A9TER 5OB%0>&OBDER for and on behalf of the

member&de#ositors.

'ene,t to t*e -eos,tor &

*ember&de#ositors will get Bife %nsrance 0o!erage for #eriod of one year 4reckoned from +st A#ril to 2+st

*arch7 for a sm assred of Rs. +.?? lakh against atral Death and Rs. 1.?? Bakhs against Death de to

Accident. The #olicy is to be renewed e!ery year. This being a One Term <ro# %nsrance 9cheme 9rrender

/ale@Terminal benefits@*atrity /ale are not a4a,la3le.

The 9cheme has been christened as %$O SANEEVAN 'I"A #ONA. The salient featres of the scheme

and the #rocedre to be followed are gi!en herender

1 . Des,gnate- 3ran+*es &

The scheme will be introdced initially to 5"*@T"* branches sitated in for *etro 0ities, namely

Golkata, *mbai, Delhi and 0hennai.

2 . El,g,3,l,ty or ?o,n,ng t*e S+*e/e &

a) Age & %ndi!idals holding 9a!ings bank@0rrent A@c, age- 3et6een 1; to C years are el,g,3le

or /e/3ers*,. The date of birth as gi!en by the a##licant in the consent&cm&Athorization

Better 4Anne$re&%7 will be the basis of com#ting the age and in case of dis#teN the ons of

#ro!ing the correctness of the age will rest with the member@beneficiary. Age will be com#ted

from the Date of "irth nearer to the date of (oining the 9cheme. At the time of renewal, the age

will be com#ted from the Date of "irth nearer to 2+st *arch of the rele!ant financial year.

3) S,ngle /e/3ers*, & An accont&holder will be eligible for one membershi# only nder the

scheme e!en if he holds more than one Accont in a "ranch or other "ranches of the "ank. %n

case more than one claim is sbse'ently recei!ed on death of the accont&holder holdingmlti#le membershi#, insrance claim will be entertained and #aid to the nominee of the oldest

#olicy and the #remim, if any reco!ered from other acconts of the deceased will be refnded

to the res#ecti!e nominees. E!en then, sch mlti#le membershi# may lead to legal

com#lications and care shold be taken by the "ranch to #reclde sch a sitation. %t may be

noted that Bife %nsrance 0or#oration of %ndia will not entertain any direct corres#ondence from

*ember@beneficiary nder the 9cheme.

+) "e-,+al e@a/,nat,on & The necessity for *edical E$amination of the a##licant has




%$O 'AN

been wai!ed nder the 9cheme. A declaration of <ood ealth, incor#orated in the 0onsent&cm&

Athorisation Better, will sffice.

. Enrole/ent &

The scheme is o#tional in natre. An eligible De#osit Accont&holder may become enrolled as a

member nder the 9cheme by signing the 0onsent&cm&Athorization Better and sbmitting the same

to "ranch. The o#tion once e$ercised will be final and irre!ocable for the res#ecti!e financial year.

%n case of a Hoint Accont, each accont holder mst enroll se#arately. 5remim will be dedcted

se#arately. o Ob(ection 0ertificate 4O07 from other co&accont&holders will ha!e to be sbmitted in

each case for debiting sch #remim to the Hoint Accont.

The *anager@Athorized "ranch Official shall e$#lain the scheme to indi!idals holding 9a!ings

"ank or 0rrent accont with the branch. The o#tee de#ositor shall sbmit to the "ranch the consent&

cm&Athorization Better dly signed after filling # the necessary #articlars. The athorized branch

official shall satisfy that the 0onsent&cm&Athorization Better has been dly filled in and in com#lete

in all res#ects.

0 . Annual Pre/,u/ Paya3le 3y t*e otee &

0ategory + *embers aged +- years to 28 years Rs. 181@&

0ategory 1 Abo!e 2: yeas to 8? years Rs. 3:-@&0ategory 2 8+ years to 8 years Rs. +113@&

5remim #aid nder the abo!e scheme is eligible for e$em#tion from %ncome Ta$ nder 9ection -- of

%ndian %ncome Ta$ Act.

The a##licable #remim is to be debited to the cstomerZs A@c. according to the age frnished by the

a##licant. On debiting the cstomerZs a@c. Recei#t&cm&0ertificate as #er Anne$re&%% will be issed.

For credit of #remim amont, the "ranch will o#en a Dmmy a@c. in the style Kon&O#erati!e

5remim 0ollection a@c. ; 0O 9an(ee!an "ima >o(na.

The member&de#ositor shold kee# sfficient balance in the 9a!ings@0rrent Accont towards the

#remim for renewal of the 5olicy e!ery year. !*e 'anB ,s not o3l,ge- to e@ten- O4er-rat ,n t*e

A++ount or ay/ent o annual re/,u/.

. Due Date or -e3,t,ng re/,u/ &

The insrance&co!erage for the first batch of o#tees will be effecti!e from the date of debit of the

#remim # to 2+.?2.1??8 and #ro&rata #remim for the #eriod will be charge. The membershi# has to

be renewed on or before +st of A#ril e!ery year hereafter called




%$O 'AN

the Annual Rene6al Date. Accordingly, the #remim shold be debited in the last week of *arch

e!ery year and remitted to B%0%. For members (oining after +st A#ril, #ro#or&tionate #remim will be

charged # to 2+st *arch of the ne$t year. The 0hart for sch #ro#ortionate #remim is gi!en in

Anne$re&%%%.

%n case of *ember in one age gro# say, nder 0ategory % crossing o!er to the ne$t age gro# say,

0ategory %% dring the #eriod co!ered nder the #olicy, the #remim as a##licable to higher age gro#

will be charged at the time of renewal.

%nsrance 0o!er starts from the day #remim is debited to the accont and co!er is a!ailable # to 2+st

*arch ne$t. E!en if the member (oins the scheme on dates other than +st of any month, fll month)s

#remim will be reco!erable.

%nsrance 0o!erage will be a!ailable to the member #ro!ided # to date #remim has been

#aid@debited to his Accont on or before the date of Death.

7 . Pol,+y-o+u/ents &

o indi!idal #olicy will be issed to member by B%0 of %ndia as the co!erage is being made a!ailable

nder <ro# %nsrance 9cheme. A Recei#t&cm&0ertificate as #er Anne$re&%% signed by two

athorized officials of the "ranch will be issed to each o#tee. The rles rele!ant to the cstomer is

#ro!ided on the back of the said Recei#t&cm&0ertificate.

: . Re/,ttan+e o re/,u/ to LI$I &

The *ain branch at each *etro#olitan 0entre !iz. Golkata *ain, *mbai *ain, 0hennai *ain and

ew Delhi *ain are designated to maintain the li!e O50 Acconts of res#ecti!e Regional 5 6 <9

offices of B%0% and will fnction as the odal "ranch for other branches in the same *etro 0entre.

The "ranch shall remit the total #remim collected dring the month after debiting Kon&O#erati!e

5remim 0ollection ; A@c. 0O 9an(ee!an "ima >o(na) and send directly the %"0 after tallying the

same internally, nder co!er of the 9mmary 9heet 4Anne$re&%/A7, to the odal "ranch along with

details of membershi# gi!en in Format as #er Anne$re&%/ A7, to the odal branch along with details

of membershi# gi!en in Format as #er Anne$re&%/ ", on t*e ,rst 6orB,ng -ay o t*e ollo6,ng

/ont*. The #articlars of #remim remittance shold be maintained in a Register 4Anne$re&/7.

; . Settle/ent o $la,/s &

%n case of death within 38 days of (oining this scheme, no claim e@+et,ng -eat* -ue to a++,-ent will

be acce#ted. On the Death of the *ember, intimation is to be gi!en to the "ranch throgh which the

deceased *ember had (oined the scheme, along with original Death 0ertificate, within a reasonable

time of say fifteen days. ormally, sch intimation




%$O 'AN

The #remim shall be remitted on or before the sti#lated data withot fail, as delay may reslt in

re#diation of claim by B%0% and the members may #refer a claim on the "ank.

The role of the odal "ranch in settlement of claims is e$#lained nder 5ara&-. The tie&#

arrangement between the odal "ranch with the res#ecti!e 56<9 nit of B%0% is gi!en in Anne$re&

/%%%.

1 . $o//,ss,on = A-/,n,strat,4e E@enses &

Res#ecti!e B%0% 56<9 nit will send 0ommission@Administrati!e e$#enses to the concerned odal

branch X 1K o re/,u/ a/ount.

1 1 . A++ount,ng Pro+e-ure &

For $usto/ers 'ran+* For No-al 'ran+*

i7 For crediting #remim to Kon&o#erati!e ,) On re+e,t o re/,ttan+e o re/,u/

5remim 0ollection &A@c. ro/ +usto/ers 3ran+* t*roug*

0O 9an(ee!an "ima >o(na I'$N &

Dr. ; 0stomer 9a!ings "ank@0rrent Dr. ; ead Office A@c. 4Re!ersal of

A@c. %"07

0r. ; Kon&o#erati!e 5remim 0r. ; Kon&o#erati!e 5remim

0ollection & A@c. 0O 9an(ee!an 0ollection&

"ima >o(na 0O 9an(ee!an "ima >o(na 5ool A@c.

,,) On re/,ttan+e o re/,u/ a/ount to ,,) Pay/ent o Insuran+e Pre/,u/ to

No-al 3ran+* & LI$I PGS on :t* o ea+* ollo6,ng

Dr. ; Kon&o#erati!e 5remim /ont* &

0ollection ; A@c. 0O 9an(ee!an Dr. ; Kon&o#erati!e 5remim

"ima >o(na 0ollection ; 0O 9an(ee!an "ima

>o(na 5ool A@c.

0r. & ead Office A@c. 4throgh isse of 0r. ; 5ay order @ Demand Draft

%"07 4fa!oring B%0% & 5 6 <9 nit7.

,,,) On re+e,t o +la,/ a/ount ro/ (,,,) On re+e,t o +la,/ a/ount ro/ LI$I

No-al 3ran+* & (PGS) &

Dr. ; ead Office A@c. 4after re!ersal of Dr. 0learing ose A@c.

%"0 [email protected] 0r. 0laim 9ettlement & A@c.

0r. ; ominee)s A@c. 4after com#lying 0O 9an(ee!an "ima >o(na.

with the re'ired formalities7 Dr. 0laim 9ettlement & A@c.

0O 9an(ee!an "ima >o(na

0r. & ead Office A@c. "ranch

4"y isse of %"07.




%$O 'AN

1 2 . A++ount,ng ro+e-ure on re+e,t o $o//,ss,on=A-/,n,strat,4e e@enses a/ount ro/

LI$I &

The commission will be released by the local B%0% 4 5 6<97 nit to the odal branches which in trn

reimbrse to all the originating branches nder the region #ro#ortionately. TD9, if a##licable, wold

be dedcted on the amont and B%0% 5 6 <9 nit wold release TD9 0ertificate after year&end.

Stage<I &

Dr. ; 0learing ose A@c.

0r. ; E$change and 0ommission Recei!ed A@c. ; 0O 9an(ee!an "ima >o(na

Stage II &

Dr. ; E$change and 0ommission Recei!ed A@c. ; 0O 9an(ee!an "ima >o(na. 4To amont of

commission #ayable to other branches7.

0r. ; ead Office A@c. 4"y issing %"0 in fa!or of indi!idal branches originating bsiness.7

Ater re+e,t o I'$N or t*e $o//,ss,on a/ount ro/ No-al 3ran+*5 t*e or,g,nat,ng 3ran+*

6,ll ass t*e ollo6,ng entr,es &

Dr. ; ead Office A@c.

0r. ; E$change and 0ommission Recei!ed ; A@c. 0O 9an(ee!an "ima >o(na.

1 . "arBet,ng &

"ranches are ad!ised to make an all ot effort to o#en ma$imm nmber of insrance linked new

de#osit acconts as also to bring the old de#ositors nder the scheme K0O 9AHEE/A "%*A

>OHAA by a##lication of the following marketing tools

i7 *assi!e can!assing throgh leaflet@call letters to e$isting as well as #ros#ecti!e cstomer as #er

anne$re&%C.

ii7 %nsertion of the leaflet in local news #a#ers.

iii7 Organising cstomer meet.

i!7 Oral cam#aigning by all staff members of the branch. The conter clerks who first interface the

cstomer cold be the best sales #erson.

!7 Dis#laying banner in #rominent #laces of the branch #remises.

!i7 /isiting e$isting 6 #ros#ecti!e cstomers.

1 0 . "on,tor,ng o Progress o t*e S+*e/e &

The Regional Offices are ad!ised to closely monitor the #rogress of the scheme and




%$O 'AN

mst ensre that the branches nder their administrati!e control #t tmost effort to o#en ma$imm of

new 9a!ing 6 0rrent De#osit acconts.

The branches will send a monthly re#ort in the format as #er Anne$re&C to the res#ecti!e Regional

Offices who in trn will send consolidated statements to res#ecti!e offices of <* 4O5s7 with a co#y

forwarded to the %nsrance *arketing Wing, .O. 5lanning 6 De!elo#ment.




%$O 'AN

ANNEXURE - I

%$O 'AN

ea" !e

15 '. !. ". Saran,5 olBata<: 1

APPLI$A!ION FOR" FOR "E"'ERSHIP

The "ranch *anager

0O "ank,

"ranch

Region

Dear 9ir@*adam,

S+*e/e & %$O SANEEVAN 'I"A #OANA

($onsent<$u/<Aut*or,sat,on or o,n,ng t*e S+*e/e)

%, 9hri @ 9mt.@Gm. ha!ing a 9a!ings@

0rrent Accont with yor "ranch, hereby gi!e my consent to become a member of the 0O 9an(ee!an

"ima >o(ana for a sm assred of Rs. +,??,???@& 4Rs. One lac only7 with Doble Accident "enefit, whichwill be administered by 0O "ank as *aster 5olicy holder.

*y details are as below

+. ame 4in 0a#itals7 9hri@9mt.@Gm.

1. Date of "irth

Date *onth >ear

2. Father)s@sband)s ame

3. Ty#e of Accont *aintaining 9a!ings "ank @ 0rrent A@c.

8. Accont mber

7 . Pre/,u/ A/ount

$ategory Pre/,u/ A/ount Age Grou

(as on -ate o ?o,n,ng s+*e/e)

%. Rs. 181@& #er annm +-&28 >ears

%%. Rs. 3:-@& #er annm abo!e 28 >ears to 8? >ears

%%%. Rs. +113@& #er annm Abo!e 8? years to 8 >ears

2 0 5*AAB OF %9TR0T%O9 – VOL. 4 (DEPOSITS) PART-I



%$O 'AN

: . Part,+ulars Regar-,ng No/,nat,on &

ominee)s ame

Relationshi#

Address of ominee

Date of "irth of ominee 4if minor7

ame of A##ointee 4for minor nominee7

Relationshi# to minor nominee

% hereby athorise yo to debit my 9a!ings "ank@0rrent Accont with yor "ranch with Rs.

4R#ees only7.

Frther, % also athorize yo to debit my abo!e accont with the a##ro#riate annal #remim as gi!en abo!e

e!ery year on the Annal Renewal Date.Thogh at #resent % am a member nder age gro# 0ategory&% @ 0ategory&%%, % also athorize yo to debit the

enhanced #remim as well be a##licable to me, once % cross o!er to the age gro# nder 0ategory&

%%@0ategory&%%% at the rates then #re!ailing.

% agree that % will be a member of the 9cheme only in yor "ranch e!en thogh % hold acconts in other

"ranches of 0O "ank and % am aware that my life co!er shall be restricted to Rs. +,??,???@& in the e!ent of

my death e!en if % ha!e (oined as a member of this scheme in any other branch of 0O "ank.

9ince % hold a (oint accont with 9hri@9mt. in yor "ranch, % agree

that if the insrance co!er is desired by remaining accont holders, #remim will be dedcted se#arately and

for which he@she will fill # a se#arate form.

4Jo Ob(ection 0ertificate LO0M for dedction of #remim from all the remaining accont holders to be

obtained. %n case where the accont is held (ointly, O0 from all the remaining accont holders to be

signed7.

% agree that my membershi# in the scheme will remain in force as long as all #remim des are #aid and ntil

% ha!e attained age :? years. >o may contine to reco!er my #remim as long as % am eligible to remain a

member of the scheme. % agree that in case % close my accont with yor "ranch Office, % will cease to be a

member of this scheme from the immediately following Annal Renewal Date.

% agree that no liability will attach to 0O "ank if for any reason yor branch is not in a #osition to reco!er

the #remim amont by debiting my accont, Frther, if the #remim is not reco!ered by the bank for any

reason whatsoe!er no liability will attach to B%0% and no claim will be #ayable in sch an instance.

I *ere3y -e+lare t*at I a/ ,n soun- *ealt* an- not suer,ng or *a4e suere- ro/ any +r,t,+al ,llness

or +on-,t,on re>u,r,ng /e-,+al treat/ent5 as on -ate.

40ritical illness is defined as not sffered@be sffering from A%D9, 0ancer, condition re'iring




%$O 'AN

o#en chest srgery, history of ty#ical chest #ain, kidney failre, brain stroke or #aralysis or ha!ing ndergone

a ma(or organ trans#lantation sch as heart, lng, li!er or kidney7.

Note & %f the a##licant had sffered from any of the abo!e critical illness, he@she is not eligible to (oin the

scheme.

% agree to abide by the terms and conditions of the abo!e scheme.

% agree to yor con!eying the abo!e #articlars regarding my admission into the gro# insrance to B%0 of

%ndia.

% hereby declare that the abo!e statements are tre in all res#ects and that % agree and declare that the abo!e

information shall form the basis of admission to the abo!e scheme and that if any information be fond

ntre, my membershi# to the scheme, shall be treated as cancelled from my date of (oining the scheme and

all #remim #aid in res#ect thereof shall stand forfeited.

Date 49ignatre or thmb im#ression of

the accont holder7

5lace ame ..

Residential Tel. o.

E&*ail %D, if any

9ignatre !erified ..........................................................

ame of !erifying "ank Official ..........................................................

Designation ..........................................................

$ert,,+ate

( For ,ll,terate al,+ants only )

% certify that the contents of this form ha!e been flly e$#lained to me by *r.@*s.

and % ha!e nderstood the significance of the contract.

Thmb im#ression of the accont holder

% hereby declare that % ha!e flly e$#lained the abo!e contents of this form to the accont holder in

langage and % ha!e trthflly recorded the information gi!en by the

accont holder. % also declare that the accont holder has affi$ed his@her thmb im#ression abo!e after flly

nderstanding the contents thereof.

9ignatre of the Declarant




%$O 'AN

ANNEXURE - II

%$O 'AN

ea" !e

15 '. !. ". Saran,5 olBata<: 1

$ert,,+ate Regar-,ng De-u+t,on o Insuran+e Pre/,u/

%n-er %$O SANEEVAN 'I"A #ONA

Date

ame of %ssing "ranch

De#ositor)s *embershi# mber

Recei!ed from 9hri@9mt.@Gm. a sm of Rs.

4R#ees only7 towards Bife

%nsrance 5remimH

for the #eriod from to the ne$t Annal Renewal date nder

0O 9AHEE/A "%*A >OHA which is a <ro# *aster 5olicy with Bife %nsrance 0or#oration of %ndia

bearing 5olicy o. .

4Athorised 9ignatory7 4Athorised 9ignatory7

Asst. *anager "ranch *anager

H Eligible for %ncome Ta$ rebate nder 9ection -- of %T Act.




%$O 'AN

R%LES OF !HE S$HE"E

+. The *aster 5olicy holder shall be 0O "ank.

1. The K0OR5ORAT%O shall mean the Bife %nsrance 0or#oration of %ndia established nder 9ection 2 of the Bife

%nsrance 0or#oration Act, +8:.

2. The K90E*E shall mean <ro# %nsrance 9cheme for the accont holders of 0O "ank known as K0O 9AHEE/A

"%*A >OHA.

3. The K*E*"ER shall mean a #ersonal accont holder of the "ank admitted to membershi# of the 9cheme and on whose

life an assrance has been or is to be effected in accordance with these Rles.

8. KETR> DATE shall mean the date from which an e$isting accont holder of the bank sbmits the consent&cm&

athorisation letter and the a##ro#riate #remim is debited to the bank accont whiche!er is later.

:. KTER*%AB DATE shall mean in res#ect of each *ember the Annal Renewal Date which is coincident with or ne$t

Annal Renewal Date following the date on which the member com#letes the age of :? years or closes his accont with

0O "ank.=. KTE "EEF%0%AR> shall mean the #erson or #ersons who has@ha!e been a##ointed by the *ember as ominee and

whose name or names ha!e been entered in this Register or *embers ke#t by the "ank.

-. 9cheme en!isages admission of members dring the #olicy year. %rres#ecti!e of the entry date, #remim are to be #aid for

the whole of the month of (oining, by way of #ro#ortionate #remim from the first of the month of (oining till the close

of the #olicy year namely 2+st *arch, e!ery year.

. An Assrance shall be effected on the life of each member nder One >ear Renewable Term %nsrance 5lan for a sm

assred of Rs. +,??,???@& 4R#ees One Bakh Only7 The Assrances shall be held by the "ank 5O TR9T for the

benefit of the #erson entitled to in accordance with these Rles.

+?. The assrances granted nder the scheme are sb(ect to a lien clase. o claim is admissible for deaths dring the first 38

days from the entry date, e$ce#t for cases of death de to accident.

++. #on the death of the *ember #rior to Terminal Date, the sm assred nder the Assrance then in force shall be #ayable to the "ank for the benefit of the nominee@beneficiary, #ro!ided the assrance is ke#t in force by #ayment of

#remim for that member.

+1. The Assrance on the life of a *ember shall terminate on an Annal Date #on the ha##ening of any of the following

e!ents and no benefit will become #ayable therender

a7 discontinance of contribtions relating to the Assrance

b7 On com#letion of :? years of age

c7 closre of accont with the "ank.

+2. Dring the #eriod when the assrance is ke#t in force, if death of a *ember occrs directly from in(ries cased by an

accident by otward, !iolent and !isible means within +-? days of its occrrence solely, directly and %nde#endently of all

other cases, then 0or#oration shall #ay an additional 9m e'al to the basic 9m Assred in res#ect of a *ember. The

ons of #roof that the death is de to accident lies with the nominee@beneficiary.

+3. All Assrances issed nder the scheme shall be %ndian 0ontract. They will be sb(ect to %ndian Baws inclding the

%ndian %nsrance Act, +2- as amended, the Bife %nsrance 0or#oration Act, +8:, the %ncome Ta$ Act, +:+ and to any

legislation sbse'ently introdced. All benefits nder the 9cheme arising ot of death of any *ember shall be #ayable

in %ndian R#ees.

+8. E!ery *ember shall a##oint his@her s#ose or child or de#endent to be his nominee. %n the e!ent of death of the *ember,

the "enefits then in force nder the Assrance on his life will be #aid to the nominee a##ointed by the *ember and

maintained by the "ank in the Register of *embers ke#t by them. %f the member does not ha!e s#ose or child or

de#endant then he shall a##oint his legal #ersonal re#resentati!e to be the nominee.

UUUUUUUUUU *AAB OF %9TR0T%O9 – VOL. 4 (DEPOSITS) PART-I 2 1 0



%$O 'AN

ANNEXURE - III

%$O 'AN GRO%P INS%RAN$E S$HE"E FOR DEPOSI!ORS(SANEEVAN 'I"A #ONA)

S%" ASS%RED Rs. 1 LA$ I!H DO%'LE A$$IDEN! 'ENEFI! REI"'%RSE"EN!

OF AD"INIS!RA!IVE E9PENSES Q1K OF PRE"I%"

Table of #ro#ortionate #remim for Accont holders (oining the

scheme dring the !arios months of the #olicy year.

Age Grou

No. o "ont*s or "ont* o $ategory<I $ategory<II $ategory<III

6*,+* +o4er ,s ?o,n,ng t*e 1 ; < 7 < 1 < C

Grante- S + * e / e

A#ril 181 3:- +113

*ay 12+ 31 ++11

H n e 1+? 2? +?1?

Hly +- 28+ +-

Agst +:- 2+1 -+:

9e#tember +3= 1=2 =+3

October +1: 123 :+1

o!ember +?8 +8 8+?

December -3 +8: 3?:

Hanary :2 ++= 2?:

Febrary 31 =- 1?3

*arch 1+ 2 +?1

Age mentioned abo!e is age nearer birthday. For Accont olders (oining the 9cheme dring the #olicy year

+st A#ril, 1??3 to 2+st *arch, 1??8 41??3&1??87, age nearer birthday is to be worked as on +st A#ril, 1??3

and for those (oining dring 1??8&1??:, as on +st A#ril, 1??8 and so on.

UUUUUUUU




%$O 'AN

ANNEXURE - IVA

%$O 'AN

ea" !e

15 '. !. ". Saran,5 olBata<: 1

%$O SANEEVAN 'I"A #OANA

(!o 3e use- 3y ,n-,4,-ual 'ran+* Pro+ur,ng 3us,ness) Su//ary

S*eet or t*e /ont* o

+. *aster 5olicy o.

1. "ranch ame "ranch 0ode 4%D7 o.

2. odal "ranch ame

3. Annal Renewal Date

8. Details of 5ersons Hoining the 9cheme

Sl. "e/3ers*, Na/e A=+. Date o Date o Age Pre/,u/

No. No. No. o,n,ng ',rt* A/ount

TOTAB

.

9ignatre of "ranch *anager

Date

Note & 5ersonal Record 9heet of each de#ositor enclosed.

(!O 'E SEN! IN D%PLI$A!E '# !HE ORIGINA!ING 'RAN$H !O NODAL 'RAN$H)




%$O 'AN

ANNEXURE - IVB

%$O 'AN

ea" !e

15 '. !. ". Saran,5 olBata<: 1


( "e/3ers*, art,+ulars )

5olicy o.

+. "ranch ame "ranch %D. o.

1. *embershi# o.

2. Date of 0ommencement of *embershi#

3. ame 4in 0a#itals7

8. Date of "irth

:. Father)s@sband)s ame

=. Ty#e of Accont *aintaining 9a!ings "ank@0rrent A@c.

-. Accont mber

. 5remim Amont

$ategory Pre/,u/ A/ount Age Grou (as on -ate o ?o,n,ng t*e s+*e/e

% Rs. 181@& #er annm +-&28%% Rs. 3:-@& #er annm Abo!e 28 years to 8? years

%%% Rs. +113@& #er annm Abo!e 8? years to 8 years

+?. 5articlars Regarding omination

ominee)s ame

Relationshi#

Address of ominee

Date of "irth of ominee 4if minor7 ame of A##ointee 4for minor nominee7

Relationshi# to minor nominee

Date

5lace

49ignatre of "ranch *anager7

( Reort,ng For/at on 6*,+* 3ran+*es 6oul- su3/,t su//ary )

(!O 'E SEN! IN D%PLI$A!E '# ORIGINA!ING 'RAN$H !O NODAL 'RAN$H ALONGI!H

S%""AR# SHEE! AS PER ANNE9%RE<IVA)






2

1

5

ANNEXURE -

%$O 'AN

ea" !e

15 '. !. ". Saran,5 olBata<: 1

For/at or Re+or-,ng Insuran+e Pre/,u/

%n-er %$O SANEEVAN ',/a #o?ana

+. "ranch ame

1. *aster 5olicy o.

2. niform "ranch 0ode o.



3. Format

Sl. "e/3ers*, Na/e A=+. No. Date o Date o Pre/,u/ No/,nee Re/

No. No. o,n,ng ',rt*=Age -e-u+te- Na/e

% $ O 'A N(



%$O 'AN

ANNEXURE - VI

%$O 'AN

ea" !e

15 '. !. ". Saran,5 olBata<: 1


$la,/ants State/ent $u/ D,s+*arge For/

PAR! A

+. ame of 9cheme 0O 9AHEE/A "ima >o(ana ; <ro# %nsrance 9cheme for de#osit

olders of 0O "ank.1. *aster 5olicy o.

2. 5olicy older ame 0O "ank "ranch

3. ame of "ranch sbmitting 0laim Format

8. ame of Deceased *ember

:. *embershi#

=. Accont mber

-. Date of (oining the 9cheme

. Date of "irth of Deceased *ember

+?. Date of Death of Deceased *ember

++. 0ase of Death

+1. 5articlars of Bast 5remim 5aid to B%0

a7 Date of Debit to Accont

b7 Amont Debited

c7Date of 5ayment to B%0

+2. ame of ominee

We hereby declare that information frnished abo!e is tre a com#lete to the best of or knowledge 6 belief.

0o#ies of certified death certificate 6 consent gi!en by the deceased at the time of (oining the scheme are

enclosed.

5lace 4For *aster 5olicy older Athorised 9ignatory7

Date 0O "ank

"ranch




%$O 'AN

Part<'

D,s+*arge Re+e,t

*aster 5olicy o.

On behalf of 0O "ank, "ranch % do hereby acknowledge recei#t from Bife

%nsrance 0or#oration of %ndia Rs. +@1 lakh 4R#ees one@ two lakh

only7 in fll satisfaction and discharge of or abo!e claim.

Dated at this day of 1??

Witness

+ .

1 .

4For *aster 5olicy older Athorised9ignatory7 0O "ank

odal "ranch

5art&A ; to be com#leted by the "ranch, which enrolled a collected the #remim.

5art&" ; to be com#leted by the Regional Office @ odal "ranch.

0laim %ntimation o. of B%0 of %ndia 4for B%0 se7




%$O 'AN

ANNEXURE - VIIA

%$O 'AN

ea" !e

15 '. !. ". Saran,5 olBata<: 1


(Fro/ No-al 'ran+* to LI$ PGS %n,t)

9mmary 9heet for the month of

+ . *aster 5olicy o.

1 . odal "ranch name

2 . ame of Regional Office

3 . Annal Renewal date

8 . 9mmary of remittances from the !arios "ranch nder

Regional Office

Sl. 'ran+* Na/e 'ran+* $o-e No. o Pre/,u/

No. "e/3ers A/ount

TOTAB

:. Amont remitted throgh DD@5ay Order

For Bife %nsrance 0or#oration of %ndia5ayable at

DD@5ay Order o.

Date

Date 9ignatre

Encl. a7 0o#y of #ersonal record sheet of each de#ositor 4%/"7

b7 "ranch&wise smmary sheet 4%/A7




%$O 'AN

ANNEXURE - VIIB

%$O 'AN

ea" !e

15 '. !. ". Saran,5 olBata<: 1


ame of odal "ranch

ame of Region

*A9TER 5OB%0> O.

To

The "ranch *anager

Bife %nsrance 0or#oration of %ndia

............................................................ 56<9 nit 45ension 6 <ro# 9cheme7

............................................................

............................................................

Dear 9ir,

Re Remittance of #remim of Rs. ..For

the month of nder the De#ositors)

<ro# %nsrance 9cheme[ K0O 9AHEE/A "%*A >OHAA

Enclosed #lease find herewith a 5ay Order@Demand Draft for Rs. 4R#ees

only7 bearing o.

dated for the month of towards #remim amont

collected from different branches nder the de#ositors) <ro# %nsrance 9cheme K0O 9AHEE/A "%*A

>OHA.

We also enclose herewith $ero$ co#ies of indi!idal membershi# #articlars 6 branch&wise smmary

sheets of each branches for yor #ersal 6 record.

Gindly acknowledge the recei#t

>ors faithflly,

4 "ranch *anager 7

Encl. as stated




%$O 'AN

ANNEXURE - IX

%$O 'AN

ea" !e

15 '. !. ". Saran,5 olBata<: 1

Dear 0stomer,

5lease acce#t the seasons) greetings from 0O "ank, a leading #blic sector organisation with #erfect blend

of tradition and technology.

We !ale yor contined #atronage and are constantly endea!oring to consolidate distin&gished bsiness

relationshi# throgh !ale addition to or e$isting ser!ices.

We are now #leased to add L,e Insuran+e co!erage to or list of ser!ices. K0O "ank 9an(ee!an "ima

>o(ana is an inno!ati!e <ro# Bife %nsrance 9cheme offered to cstomers to 0O "ank, who maintain

#ersonal sa!ings and crrent acconts with s. We ha!e entered into an agreement with Bife %nsrance

0or#oration of %ndia, %ndia)s largest life %nsrance #ro!ider for a <ro# %nsrance 9cheme, where we shall

be acting as a *aster 5olicyholder.

%n this enclosed J9alient Featres) yo will find detailed information of the 9cheme which we are sre will be

of immense benefit to yo and yor family

We re'est to yo to a!ail of this o##ortnity at the earliest. 5lease com#lete the enclosed 0onsent&cm&Athorisation letter and retrn it to the "ranch where yo maintain yor accont. As a *A9TER 5OB%0>

OBDER, We ndertake the res#onsibility of collecting the #remim from yor accont and remittance of

#remim to B%0 of %ndia and forwarding claim #a#ers to B%0 of %ndia, whene!er re'ired for their

consideration, collection of claim amont from B%0 and #ayment of the same to the nominee.

*,le %$O 'anB 6,ll 3e resons,3le or e@tens,on o Insuran+e 3y 6ay o 4alue a--,t,on to your

-eos,t5 +la,/s o Insuran+e 6,ll 3e settle- 3y LI$ o In-,a only. %$O 'anB 6,ll *a4e t*e status o

"AS!ER POLI$#HOLDER only an- not t*at o an Agent.

5lease inform yor friends and relati!es of this facility so that they may also ha!e the #ri!ilege of the

additional benefit.

Assre yo of or #ersonal care and looking forward to yor contined #atronage.

>ors faithflly,






ANNEXURE

X

%$O 'AN

ea" !e

15 '. !. ". Saran,5 olBata<: 1

FOR"A! FOR PROGRESS REPOR! FOR INS%RAN$E

LINED

DEPOSI! S$HE"E %$O SANEEVAN 'I"A #ONA

No. o ol- A=+. No. o Ne6 A=+. A/ount o $u/ulat,4e Pos,t,on $u/ulat,4e Pos,t,on

L,nBe- 6,t* Grou L,nBe- 6,t* Grou +o//,ss,on= o Ol- A=+. l,nBe- o Ne6 A=+. L,nBe-

Insuran+e (GI) Insuran+e (GI) A-/,n,strat,4e 6,t* GI 6,t* GI

earne- E@enses e@enses earne-



% $ O 'A N(

2

2

2



%$O 'AN

L!"# I$%&'$# *+',+'!+$ +" I$!

PENSION GRO%P S$HE"ES DEPAR!"EN! F. NO. 72

*aster 5ro#osal for <ro# %nsrance 9cheme for the eligible De#osit olders of 0O "ank

+. ame of the 5ro#oser 0O "AG

RE<%OAB OFF%0E

Address

1. atre of "siness "AG%<

2. a7 %s the 9cheme to be administered by the

Trstees S O

b7 %s the 9cheme to be a##ro!ed nder any

of the 9ection of %ncome Ta$ Act, +:+ O

%f so, which S

c7 The 9cheme to be described as 0O 9an(ee!an "ima >o(ana;<ro# %nsrance

9cheme for the De#osit olders of 0O "ank

3. Does the 5ro#osed 9cheme re#lace any of O

the E$isting benefits S %f so, gi!e details.

8. Date of 0ommencement of 9cheme

:. What are the conditions of eligibility for

membershi# of the 9cheme S As #er #ara 2 4a7 of the Rles

=. a7 Are a #articlar section of de#osit on 5ersonal Accont holders

holders to be e$cldedS %f so, gi!e details.

b7 5artici#ation by eligible Accont holders All o#ted accont holders fond eligible to (oin

the scheme.

-. What is the normal e$it age S On attaining :? years.

. 0ontribtions Flly by the members

+?. *ode of #ayment of 0ontribtion *onthly, not later than 8th of e!er month, for

the yearly@#ro#ortionate contribtions collected

from the members in the #receding month.

++. Was a #ro#osal for 9cheme made earlier to

any other office of the 0or#oration S %f so, %B

#lease gi!e details

+1. 9tate briefly the benefits re'ired

a7 On death of the de#osit holder de to Rs. +,??,??? 4with a lien clase of 38 days from

natral cases the date of (oining7

b7 Death de to accident Rs. 1,??,???

As #er Rles of the 9cheme




%$O 'AN

DE$LARA!ION

We re'est the Bife %nsrance 0or#oration of %ndia to isse a *aster 5olicy on the basis of the information frnished by

s and sch frther information which the 0or#oration may re'ire s to gi!e for #r#ose of the 9cheme referred in0olmn 24c7 abo!e and to effect the necessary assrances therender in accordance with the #ro!isions of the Rles of

the said 9cheme, certified tre co#y of which is attached hereto.

We #ro#ose for assrances on the li!es of the de#osit holders in accordance with the Rle of the 9cheme.

%t is hereby declared that we ndertake and bind orsel!es to frnish to the 0or#oration fll #articlars as may be

necessary of all statements, declarations by the eligible De#osit holder, re#orts and certificates in res#ect of e!ery

#erson on whose life the assrance are to be effected nder the *aster #olicy in the form and manner re'ired by the

0or#oration.

We warrant the trth of the statements and #articlars herein contained and agree that these statements and #articlars

whether frnished by s, or by the De#osit holder shall form the basis of the Assrances hereby #ro#osed on the li!es of the abo!e mentioned de#osit holders with the Bife %nsrance 0or#oration of %ndia.

We agree to call for and maintain record of nominations of the members co!ered nder the scheme.

We agree that this #ro#osal together with the #articlars, statements and declarations by the eligible De#osit holders or

orsel!es shall form the basis of the *aster 5olicy.

We frther agree that if any misstatement or ntre a!erment in res#ect of any of the abo!e mentioned De#osit holder is

contained in any rele!ant statement, information or #articlars frnished to the 0or#oration, the #articlar assrance on

the life of the De#osit holders 4in res#ect of which a misstatement or ntre a!ernment has been made7 shall be

rendered !oidable by the Bife %nsrance 0or#oration of %ndia.

We also agree that the assrances #ro#osed shall not be binding ntil they ha!e been acce#ted by the said 0or#oration

and ntil the amont of #remim shall ha!e been #aid a 9mmary of 9ection 38 of %nsrance Act, +2-.

o #olicy of life insrance shall after the e$#iry of two years from the date on which it was effected, be called in

'estion by an insrer on the grond that a statement made in the #ro#osal for insrance or in any re#ort of a medical

officer, or referee or friend of the insred or in any other docment leading to the isse of the #olicy was inaccrate or

false nless the insrer shows that sch statement 4was on a material matter or s##ressed facts which it was material to

disclose and that it was fradlently made7 by the #olicy&holder and that the #olicy&holder knew at the time of making it

that the statement was false 4or that it s##ressed facts which it was material to disclose7.

Date

4 9ignatre on behalf of the #ro#oser 7

5lace . "ank

Regional Office

9ignatre of Witness

Address

UUUUUH H H UUUUU




CHAPTER-VI

TAX

DEDUCTION

AT

SOURC

E

(TDS)

ON

INTER

EST

ON TIME

DEPOSITS

%t became a

stattory

obligation on the

#art of "anking

0om#anies

4"anks7 to dedct

ta$ at sorce from

interest on !,/e

Deos,ts nder the

amended #ro!ision

of section +3A of

%ncome Ta$ Act

+:+ with effect

from +@=@+8

throgh Finance

Act +8.

T%*E

DE5O9%T9 as

referred to abo!e

inclde all Term

De#osits

e$clding

Recrring



De#osits.

N' & 9o far the

de#osit

schemes of

or "ank

are

concerned,

all Term

De#osit

schemes

e$clding

Recrring

De#osit and

De#osit and

De#osit

nder Bagh

"achat

>o(na are

sb(ect to

the #ro!ision of

TD9.

De#osits

nder 0O

Ba$mi

>o(na are

coming

nder the

#r!iew of

TD9, e!en

thogh it is

a modified

!ersion of

Recrring

De#osit

9cheme.

2 . 8%AN!%"



OF IN!ERES!

ON HI$H

!DS ILL 'E

APPLI$A'LE

From +@:@1??+ ;

TD9 is a##licable

on interest on

Time De#osit,

when the amont

of interest

e$ceeded Rs.

8,???@& in a single

financial year.

. RA!E OF

!DS

!ye o Deos,tor Rate o !D

+. Residents 4other than com#any7 +?P of int

1. Domestic 0om#any 1?P of int

N' & 9rcharge as

a##licable dring

a financial yearshall also be added

to the abo!e rate.

0 . !DS IS NO! APPLI$A'LE IN !HE FOLLOING $ASES

+. %f the aggregate #ayment of interest to a de#ositor on Time De#osits h

financial year does not e$ceed Rs. 8???@& .

1. 5ayment of %nterest on de#osit on de#osit other than Time De#osits.

2. 5ayment of Discont on 0ertificate of De#osit.

3. 5ayment of interest to "anks inclding 0o&o#erati!e "anks.

8. 5ayment of interest to 0entral and 9tate Financial 0or#orations.

:. 5ayment of interest to B%0 of %ndia.

=. 5ayment of %nterest to T%

-. 5ayment of interest to <%0 and their sbsidiaries.

*AAB OF %9TR0T%O9– VOL. 4 (DEPOSITS) PART-I



%$O 'AN

. 5ayment of interest to any com#any or co&o#erati!e 9ociety carrying on the bsiness of %nsrance.

+?. 5ayment to sch other instittion, association or body or class of instittions, associations or bodies

which the 0entral <o!ernment may notify in this behalf in the Official <azette.

. I"POR!AN! POIN!S !O !AE A NO!E

+. Time De#osits which ha!e been recei!ed by the branch either by way of fresh de#osit or by way of

renewal of old de#osit on or after ?+@?=@+8 are sb(ect to TD9 from the date of sch recei#t or

renewal as the case may be.

1. The Term De#osits, which became o!erde by 2?@:@+8, had they been renewed on the de date i.e. on or

before 2?@?:@+8, it wold not ha!e attracted TD9. "t, in many cases, de to failre on the #art of

de#ositors to come to "ank on de date for renewal, the de#osits remain o!erde for renewal. %f sch

o!erde Term De#osits are renewed latest by 2+@+1@+8, the same wold not attract TD9. "t, when

these o!erde Term De#osits are renewed on or after ?+@?+@+:, they are sb(ect to TD9 des#ite the

fact that sch Term De#osit takes effect from a date #rior to ?+@?=@+8.

2. Time De#osits which e$isted in the branch #rior to ?+@?=@+8 are otside the #r!iewN of Dedction of

Ta$ at 9orce.

3. TD9 is not slab oriented. %t means, if the amont of interest #ayable@#aid dring a financial year does not

e$ceed Rs. 8,???@&, no ta$ is to be dedcted. "t, if it e$ceeds Rs. 8,???@& then ta$ is to be dedcted as

#er a##licable rate on the whole amont of interest #ayable@#aid.

8. 9ince TD9 is to be a##lied on the amont of interest #ayable, the interest #ro!ided for G> and D0 accont

is also sb(ect to TD9 as wold be credited to the accont at the end of financial year.

:. TD9 is a##licable on the aggregate amont of interest #aid@#ayable within a financial year on K#er

de#ositor K#er branch basis.

=. When in a Time De#osit accont there are more than one de#ositor, the first named de#ositor is liable for

TD9.

-. Dedction of Ta$ on interest is stattory and is inde#endent of de#ositor)s consent or denial, e$ce#t in the

following cases.

7 . 'RAN$HES NEED NO! DED%$! !A9

+. Where a resident %ndi!idal 4de#ositor7 has frnished with the "ank is declaration in d#licate in Form

+8 4@s += 4+A7 of %T Act +:+7 to the effect that the ta$ on his estimated




%$O 'AN

total income, inclding the interest amont dring the rele!ant financial year will be

K%B

1. Where the de#ositor 4other than com#any7 has frnished a 0ertificate in Form o. +8AA

4@s += of %T Act +:+7 from the %ncome Ta$ Athorities for dedction of ta$ at lower rate

or no dedction of ta$ at sorce.

2. Where the de#ositor is a F@Trst@Bocal Athority@Association of #ersonal@"odies of

%ndi!idals etc. and they sbmit Form o. +8A 4Ref 0O@9A@1:@1 dated +:@2@+17

: . HEN !A9 IS !O 'E DED%$!ED

+. As and when interest is #aid to the de#ositor or credited to his accont either at matrity

or at foreclosre of Time De#osit.

1. %nterest less than the ta$able amont is #aid on different dates on different occasions,

bt when the interest amont, so #aid e$ceeds Rs. 8???@& in aggregate dring a Financial

>ear.

2. When a Time De#osit is renewed along with the total interest #ayable thereon 4it wold

be treated as if the amont of interest was #aid on that date7

3. For cmlati!e Fi$ed De#osits like G> and D0, when the interest is credited to indi!idal

acconts in R0B on accral basis which is sally done on last working day of the year.

; . FOR" 1<H AND ROLE OF 'RAN$H

+. "ranch is not res#onsible for the correctness of the declaration.

1. "t, it is to be ensred that the declaration contains fll name, address and signatre

4as #er s#ecimen signatre recorded at the branch7 of the de#ositor.

2. "ranch has to fill # the 5art&%% of +8 and the head of the branch mst #t his seal

and signatre at the a##ro#riate #lace.

3. A co#y of the +8 mst be forwarded to the concerned 0hief 0ommissioner@

0ommissioner of %ncome Ta$ before =th day of scceeding month, retaining another

co#y as branch record.

For the abo!e #r#ose, all the +8 declarations recei!ed in a month shold be forwarded

to the concerned %T athority in a bnch so as to reach them before =th days of

scceeding month.

8. A register shold be maintained for recording all the +8 recei!ed and forwarded to the

%T Athorities. %t will hel# the branch in sbmitting the Annal Retrn, Form 1=A and

ftre scrtiny by %T Athorities.




%$O 'AN

C . A$$O%N!ING PRO$ED%RE

After dedction of ta$, the amont shold be credited to TD9 accont 4 a ss#ense Accont7 a new <B ead,

created following O 0irclar o. 0O@9A@3@1??+ dated 11@++@1??+. All other #articlars mst be

entered into the sbsidiary Register, named as TD9 Register. The amont of ta$ so ke#t in the 9s#ense

Accont mst be de#osited into <o!ernment Accont within the sti#lated time as mentioned below.

1 . !A9 DED%$!ION A$$O%N! N%"'ER (!AN)

%n terms of the #ro!isions of section 1?2A of the %ncome Ta$ Act +:+, e!ery branch dedcting income ta$

nder any #ro!ision of %T Act +:+ 4TD9 from salary, interest or #ayment to any contractor, #ayment of

commission to any agent etc.7 is re'ired to obtain a Ta$ Dedction Accont mber 4TA7 from the

concerned Assessing Officer and to 'ote the same in the TD9 certificate, forms, challans and retrns etc.

relating to TD9 4Ref. O 0irclar o. 0O@ 5*<@++@- dated 1?.?3.-7 The branches, which are yet to

obtain TA, shold a##ly to the concerned Assessing Officer 4AO7 in Form o. 3" and obtain the TA. As

#er the #ro!ision of %T Act +:+, sch a##lication in Form 3" has to be made within one month from the

end of the month in which ta$ nder TD9 was first dedcted.

1 1 . DEPOSI! OF !A9 IN GOVERN"EN! A$$O%N!

Ta$ dedcted at sorce shold be de#osited to the credit of <o!ernment accont within the time limit as

mentioned below.

+. Ta$ dedcted dring a month shall be de#osited within one week of the scceeding

month.

1. Ta$ dedcted on the last working day of the year be de#osited within two months

i.e. by 2+st *ay of the same year.

The ta$ is to be de#osited into <o!ernment Accont by filling # #rescribed %T. 0hallan at the athorised

bank branches. The #rescribed challan mbers are as nder.

0hallan o. 1: For TD9, reco!ered from 0om#anies.

0hallan o. 1=+ For TD9 reco!ered from other than 0om#anies.

1 2 . ISS%AN$E OF $ER!IFI$A!E FOR !DS

+. %t is obligatory on the #art of the branch to isse TD9 certificate in form +:A for the amont of ta$

dedcted within a #eriod of one month from the end of the month dring which the ta$ has been

dedcted.

1. "t, if ta$ is dedcted on the last working day of the year, Form +:A is to be issed within two moths i.e.

by 2+st *ay of the year.




%$O 'AN

2. For issance of Form +:A, no formal re'est either oral or by writing is re'ired from the de#ositors.

3. "y +?th day of A#ril e!ery year, the branches will send a letter to the de#ositor at his last recorded address

with the "ank intimating that the TD9 certificate is ready and shold be collected from the branch by

1+st A#ril #ositi!ely. A draft co#y of the letter is enclosed herewith as Anne$re&/.

%n case the de#ositor does not collect the certificate #ersonally by 1+st A#ril, the same shall be

des#atched in his last recorded address by Registered 5ost with A@D. The cost of #ostage, howe!er, be

debited to de#ositor)s accont. 4Ref 0O@9A@?+@&1??? dated ++@?+@1???7

8. %f original form +:A is lost by the de#ositor, a d#licate certificate on #lain #a#er gi!ing therein all the

details, as contained in the original Form +:A may be issed by the branch.

:. Where more than one Form +:A has been issed to a de#ositor dring a financial year, a consolidated

Form +:A for the total amont of ta$ dedcted dring the financial year may be issed at the re'est

of the de#ositor.

1 . S%'"ISSION OF ANN%AL RE!%RNS

Annal Retrn when ta$ is dedcted at sorce and de#osited into <o!ernment accont Form 1:A.

Annal Retrn when ta$ is not dedcted de to +8 declaration ; Form 1=A.

Form 1:A has to be sbmitted with the concerned %T Assessing Officer by 2?th Hne of the concerned

Financial >ear.

Form 1=A has to be sbmitted with %T Athorities within 2? days from the end of the Financial >ear.

1 0 . 'ANS POER !O "AE AD%S!"EN!

%n terms of sb section 3 of section +3&A of %T Act +:+ "anks may, at the time of making any dedction,

increase or decrease the amont of ta$ de for the #r#ose of making ad(stment of any e$cess or short

dedction, already made by the "ank in earlier occasion, bt dring the same financial year in res#ect of

same de#ositor.

1 . REF%ND OF !A9

"anks do not en(oy any #ower to refnd any amont of ta$, already dedcted and #aid into <o!ernment

accont. This sitation arises de to fore&closre of a term de#osit, reslting in redction of rate of interest on

de#osit.*AAB OF %9TR0T%O9 – VOL. 4 (DEPOSITS) PART-I 2 2 9



%$O 'AN

%n sch a case, "ranches will #ro!ide Form +:A to the concerned de#ositor and the de#ositor will claim

refnd from %T De#artment as #er #re!ailing rles.

1 7 . PENAL!# FOR NON $O"PLIAN$E

A. Failre to dedct ta$ or delay in de#ositing the ta$ dedcted into the <o!ernment accont will entailN

i7 5enalty e'al to the amont of ta$, which has been short dedcted 4@s 1=+ 07

ii7 %nterest X +8P #er annm from the date of dedction of ta$ to the date of actal de#osit into

<o!ernment accont 4@s 1?+ 4+A7.

iii7 5nishable with rigoros im#risonment of minimm #eriod of three month and ma$imm of

se!en years and with fine. 4@s 1=:&"7

". Failre to mention TA is 0hallan@Retrns@Docments will entailN

5enalty #to Rs. 8???@& 4@s 1=1 ""7

0. Failre to sbmit Annal Retrns. 4Form 1:A and Form 1=A7 and co#ies of Form +8 in time will entailN

5enalty not less than Rs. +??@& #er day and may e$tend to Rs. 1??@& #er day. 4@s 1=1 A417

D. Failre to #ro!ide Form +:A within the sti#lated time will entailN

5enalty of not less than Rs. +??@& which may e$tend to Rs. 1??@& #er day for the delayed #eriod sb(ect

to the limit of the amont of ta$ dedcted. 4@s 1=1&A417

ANNE9%RE &

% Form +8

%% Form +:A

%%% Form 1:A

%/ Form 1=A

/ Draft Better to send to de#ositor to collect Form +:A.




%$O 'AN

1. thatH

my@or #resent occ#ation is

2. that the ta$ onH

may@or estimated total income inclding the interest on secrities, interest other than

Kinterest on secrities Hand@or income in res#ect of nits referred to in #aragra#h + com#ted in

accordance with the #ro!isions of the income Ta$ Act +:+ for the #re!ios year ending 2+st *arch

1??+, rele!ant to the assessment year 1??+&?1 will be nil.

3.H

thatH

%@we ha!e not been assessed to %ncome Ta$ at any time in the #ast btH

%@we fall within the (risdiction of the 0hief 0ommissioner or 0ommissioner of %ncome Ta$

OR

ThatH

% was@we were last assessed to %ncome Ta$ for the assessment year by the

Assessing Officer 0ircle@Ward@District and the #ermanent accont nmber

allotted toH

me@s is

/ER%F%0AT%O

H%@We hereby declare that the contents of #aragra#hs + to 3 are tre to the

best ofH

my@or knowledge and belief and nothing has been concealed therein.

/erified today, the Day of 1??

5lace 9ignatre of Declarant

PAR!<II

4 FOR 9E "> TE 5ER9O TO WO* TE DE0BARAT%O %9 FR%9ED 7

+. ame and address of the #erson res#onsible for #aying interest on sms or income in res#ect of nits, as

the case may be mentioned in #aragra#h + of declaration.

1. Date on which the declaration was frnished by the declarant

2. 5eriod for which interest or income in res#ect of nits, as the case may be, is credited@ #aid

3. Amont of interest or income in res#ect of nits, as the case may be

8. Rate at which interest or income in res#ect of nits, as the case may be, is credited@#aid

Forwarded to the 0hief 0ommissioner or 0ommissioner of %ncome Ta$

5lace 9ignatre of the #erson

res#onsible for #aying interest on

secrities@interest other than

interest on secrities@H

income in

Date res#ect of nitsH




%$O 'AN

NO!ES &

+. X <i!e com#lete #ostal address

1. The declaration shold be frnished in d#licate

2. Delete whiche!er is not a##licable

3.H

indicate the ca#acity in which the declaration is frnished on behalf of a ind ndi!ided Family,association of #ersons etc.

8. "efore signing the !erification, the declarant shold satisfy himself that the information frnished in the

declaration is tre, correct and com#lete in all res#ects.

:. Any #erson making a false statement in the declaration shall be liable to be #rosected nder section 1==

of the %ncome Ta$ Act +:+ and on con!iction be #nishable ; a7 %n a case where the amont of ta$, which wold ha!e been e!aded if the statement

or accont had been acce#ted as tre, e$ceeds one hndred thosand r#ees, with rigoros

im#risonment for a term which shall not be less than si$ months bt which may e$tend, to se!en

years and with fine.

b7 %n any other case with rigoros im#risonment for a term which shall not be less than three

months bt which may e$tend to three years and with fine.

UUUUUUUU




%$O 'AN

1 ; . ANNEXURE - II

FOR" NO. 17A

See Rule 1 (1) (3) T

0ERT%F%0AT%O OF DED0T%O OF TAC AT 9OR0E DER 9E0T%O 1?2 OF TE %0O*E

TAC A0T +:+

ame and address of the #erson TD9 0ircle where Annal Retrn ame and address of the #erson

dedcting ta$ nder section 1?: is to be to whom #ayment made or in

deli!ered whose accont it is credited

TAC DED0T%O A@0. O. OF ATRE OF 5A>*ET 5A@<%R O. OF TE 5A>EE

TE DED0TOR

5A@<%R O. OF TE FOR TE 5ER%OD TO

DED0TOR

DETA%B9 OF 5A>*ET, TAC DED0T%O AD DE5O9%T OF TAC %TO 0ETRAB

<O/ER*ET A00OT

Date of Amont Amont of Rate at Date 6 0hallan o. ame of "ank

5ayment@ #aid@credited %ncome ta$ which of de#osit of ta$ and branch

0redit Rs. dedcted dedcted into 0entral where ta$

4Rs.7 <o!ernment de#ositedAccont

0ertified that a sm of Rs. 4in words7 has been

dedcted at sorce and #aid to the credit of the 0entral <o!ernment as #er details gi!en abo!e.

5lace 9ignatre of #erson res#onsible for dedction of ta$

Date Fll ame

Designation




%$O 'AN

1 C . ANNEXURE - III

FOR" NO. 27A

( See Rule : )

Annal retrn of dedction of ta$ from interest other than K%nterest on secrities nder section 1?: of

%ncome Ta$ Act +:+, for the year ending 2+st *arch, 1?

5ermanent Accont o. Ta$ Dedction Accont o.

+. ame and address of the #erson

res#onsible for #aying any income by way

of interest other than K%nterest on

9ecrities

1. Amont of ta$ dedcted %ncome Ta$ ............................................

9rcharge ..............................................

Total .........................................................

2. Details of interest credited@#aid dring the year and of ta$ dedcted at sorce

ame 6 5A Amont of Date on Amont of Date on TD9

Address of O@AO interest which ta$ which ta$ certificate

the #ayee where credited@#aid interest dedcted dedcted o.

#ayee is dring the credited@#aid

assessable year

a7 0om#anies

+ .

1 .

2 .

3. etc.

Total 4a7

4b7 5erson

Other than

com#anies

+ .

1 .

2 .

3. etc.

Total 4b7

X <rand Total

4a7 Q 4b7




%$O 'AN

3. Details of ta$ #aid to the credit of the 0entral <o!ernment

9l. o. Amont of Date4s7 of 0hallan o. ame and address of "ank

ta$ #ayment

$ert,,e- t*at &

+. This retrn contains a com#lete list of #ersons to whom interest or aggregate interest e$ceeding Rs.

+?,???@& 4regardless of any interest recei!ed from them7 was #aid dring the #eriod +st A#ril 1?

to 2+st *arch, 1?

1. All the #articlars frnished abo!e are correct and com#lete.

5lace

Date

ame and signatre of the #erson

res#onsible for dedcting ta$ at sorce

Designation




%$O 'AN

2 . ANNEXURE - IV

FOR" NO. 2:A

( See Rule :A )

Annal retrn nder section 1?:A of the %ncome Ta$ Act +:+ of %nterest other than K%nterest on 9ecrities

credited@#aid dring the financial year 1? withot dedction of ta$.

ame and address of the #erson

res#onsible for #aying the income

9l. o. ame and address of the #erson Amont of interest Date4s7 of credit or to whom the interest was credited@ credited to the accont or #ayment

#aid withot dedction dring the #art to the #erson

financial year on his frnishing an mentioned in colmn 1

affida!it or statement nder the dring the financial year

#ro!iso to section +3A 4+7

4+7 417 427 437

+

1

2

% certify that ;

i7 the abo!e statement contains a com#lete list of e!ery #erson to whose accont interest

other than interest on secrities was credited or to whom sch interest was #aid dring the financial

year 1? 1? withot dedction of ta$ on his frnishing an affida!it or statement nder the

#ro!iso to section +3A4+7.

ii7 all the #articlars frnished abo!e are correct and com#lete.

9ignatre of the #erson by whom the retrn is deli!ered

5lace

Date




%$O 'AN

ANNEXURE - II

9hri .....................................................

............................................................

............................................................

Dear 9ir,

Re TD9 0ertificate

The TD9 0ertificate relating to yor Accont o. maintained with or "ank for the

year is ready with s. Gindly call on s on any working day dring working hors and

collect the same from the De#osit De#artment.

Gindly note in case yo do not collect the same by 1+st of this month, we shall be des#atching the same by

Regd. 5ost with AD at yor last known recorded address with s. The cost of registration will be debited to

yor accont.

Assring yo of or best ser!ices at all times.

>ors faithflly,

*anager

UUUUUU o UUUUUU
