Articles like shares, securities, etc.,can be kept in safe custody with the Bank on prescribed charges wherever
such facility is offered.Large/small boxes must be locked by the customer(s) and particulars must be written/painted
thereon.The lock should be covered by stout cloth and sealed with the customer's seal.Relationship of Banker
and customer shall be that of Bailer and Bailee.
Nomination facility is available for all deposit accounts, articles in safe custody and safe deposit vaults.
Nomination is available for accounts opened in individual capacity (i.e. single/joint accounts as well as
accounts of a sole proprietory concern) only, i.e. not for accounts opened in representative capacity.
Nomination can be done in favour of one person only. However, nomination in favour of more than one person
(i.e. upto 2 persons) is permissible in jointly operated locker accounts with common consent.
Nomination can be made, cancelled or varied by the account holder anytime during his/her life time. While
making nomination, cancellation or variation, witness is required and the request should be signed by all
Nomination can be made in favour of a minor also.
For the existing accounts where nomination is not made, the account holder/s can do so by filling up form
available with the branches.
Customers (new as well as existing) are advised to avail nomination facility, if they have not availed so
PENSION PAYMENTS : (applicable to Public Sector Banks only)
Customers may remit funds from one centre to another centre by Demand Draft or Telegraphic Transfer (TT),
etc., by paying specified charges as per the Bank's rules.
The customers can utilise the facility of Electronic Funds Transfer (EFT) System operated through RBI for
transferring funds to and fro Calcutta, Chennai, Delhi and Mumbai upto Rs. 5 Lacs.
Demand drafts, telegraphic transfers and travellers cheques for Rs.50,000 and above will be issued by the
banks only by debit to the customer's account or against cheques or other instruments tendered by the purchaser
and not against cash payment. Similarly, such payments for Rs.50,000 and above will be made through banking
channels and not in cash.
ISSUE OF DUPLICATE DEMAND DRAFT WITHOUT RECEIPT OF NON-PAYMENT ADVICE
As directed by the RBI, the banks will issue duplicate demand draft upto Rs. 5,000/- on the basis of adequate
indemnity and without obtaining Non-Payment Advice from the drawee branch.
TIME FRAME FOR ISSUE OF DUPLICATE DRAFT
As directed by the RBI, the banks will issue duplicate demand draft to the customer within a fortnight from
the receipt of request. For delay in issuing duplicate draft beyond the above stipulated period, the banks
will pay interest at the rate applicable for fixed deposit of corresponding maturity in order to compensate
the customer for such delay.
CASH ORDER (i.e. PAY ORDER, BANKER'S CHEQUE)
Cash Order is issued for making payment locally
Issue/payment of cash order for Rs.50000/- and above is to be made only through the bank account.
Validity period of cash order is 6 months. This can be revalidated by the issuing branch on written request
of the purchaser.
Immediate credit of local as well as outstation cheques upto Rs. 7500/- (as per RBI guidelines from time to
time) is provided to the individuals (personal customers) who are maintaining satisfactory accounts. However,
the customers will have to bear usual service charges as well as the postal charges. In the event of cheques
being returned unpaid, the customer will have to pay interest for the period for which funds utilised.
All cheques (local and outstation) deposited by the customers are cleared by the Bank as follows:
This facility is available for the clients of selected branches at designated centres. Cheques of high value
(of not less than Rs. 1 lac per instrument) are cleared on the same day.
Cheques are cleared normally on the third working day, depending on the centre subject to depositing of the
cheques/instruments in time.
Cheques drawn on Metropolitan centres listed in national clearing are cleared in 8 days.
All cheques drawn on other centres are cleared in 14 days.
The Bank will credit the proceeds of an outstation cheque within the following time norms
If the Bank fails to do so, interest will be paid at the rate applicable for appropriate tenure of fixed deposit
for the period of delay beyond the stipulated days mentioned above. Further, if the delay is abnormal then
penal interest at the rate of 2% above fixed deposit rate applicable will also be paid.
Customers are requested to deposit their cheques within the stipulated timeframe at the branches.
The Bank handles collection of various taxes on behalf of Govt. of India through selected designated branches.
EXCHANGE OF SOILED/SLIGHTLY MUTILATED CURRENCY NOTES AT PUBLIC SECTOR BANKS
All the branches of the Bank will exchange freely soiled/slightly mutilated currency notes and certain other
types of mutilated currency notes of all denominations. The Bank's currency chest branches will exchange
all categories of mutilated currency notes. Currency exchange facility is offered to the Bank's customers
and others. The Bank follows RBI guidelines in this respect. RBI has permitted the banks to exchange mutilated
currency notes which are genuine and where mutilations are such as not to cause suspicion or fraud.
The Bank pays interest on deposits as per various deposit schemes.
Interest rates are revised from time to time and made known to public.
Revised interest rates are applicable only to the renewals and fresh deposits while existing deposit continue
to get interest at the contracted rate.
The Bank provides various services to customers for which service charges are levied. The charges are reviewed/revised
from time to time.
Service charges are levied for collection and remittance of funds, processing of loan proposals, issue of
guarantees, safe custody, issue of duplicate instruments/statements, ledger folio charges etc. Details of
service charges will be made available on request.