Your Rights as A Customer of Our Bank
As our valued customer, you enjoy the following rights from our Branches network through out the country
|Receipt of Cash||10-15 Minutes|
|Encashment of Cheques||10-15 Minutes|
|Issue of Cheque-Book/DDs/POs||15-20 Minutes|
|Opening of an Account||15-20 Minutes|
|Payment of DDs/POs||10-20 Minutes|
|Payment/Renewal of FDRs||20-25 Minutes|
|Retirement of Bills||20-30 Minutes|
|Updation of Pass Book/ Issue of Account Statement||05-10 Minutes|
|Statement of Account to be issued regularly||On every 5th of the Month.|
|Collection of Cheques Local||2-4 days|
- Display of business hours.
- Attend to all customers present in the banking hall at the close of business hours and rendering of courteous service.
- Provide separate 'Enquiry' or 'May I Help You' at large Branches.
- Offer nomination facility to all deposit accounts (i.e. account opened in individual capacity) and all safe deposit hirers (i.e. individual hirers).
- Display interest rates for various deposit schemes from time to time.
- Notify change in interest rates on advances.
- Display of Service Charges on issue of Demand Drafts, Pay Orders, Duplicate Drafts, Cancellation of Drafts, Collection of Documents, etc.
- Display Time - Norms for various Banking Transactions.
- Pay interest for delayed credit of outstation cheques, as advised by Reserve Bank of India (RBI) from time to time.
- Display of availability of Locker facility at the Branch.
- Display of Tax Collection facility at the Branch.
- Accord immediate credit in respect of outstation and local cheques upto a specified limit subject to certain conditions, as advised by RBI from time to time.
- Provide complaint/suggestion box in the Branch premises.
- Display address of Zonal & Head Offices, as well as Nodal Officer dealing with customer grievances/complaints.
- Name and address of the concerned banking ombudsman.
- Corruption free service to all customers.
Saving Bank Account
- These accounts are designed to help the individuals (personal customers) to inculcate habit of saving money and to meet their future requirement of money. The amount can be deposited / withdrawn from these accounts by way of cheques / withdrawal slips. The withdrawals are restricted to 50 entries each half-year in the S.B. Account.
- Saving Bank accounts are very popular. These accounts can be opened by eligible person(s) and certain organization(s) / agencies as approved by the Reserve Bank of India (RBI).
- As required by law, while opening this account, we satisfy ourselves about the identity, including verification of address, of a person(s) seeking to open an account and to assist in protecting our prospective customer(s) and ourselves against fraud and other misuses of the banking system.
- We are required to obtain two recent photographs of the person(s) opening the account, as per R.B.I. directives.
- We are required to obtain Aadhaar and Permanent Account Number (PAN) or alternatively obtain declaration in Form No. 60 or 61 as per the Income Tax Act (vide Section 139 A) from the person(s) opening the account.
- We provide to the prospective customers details of the documents required for identification of the person(s) opening the account.
- You are required to maintain certain minimum balance in the account, as specified by the Bank from time to time. Interest at 3.5% for balance up to 20 lakh, above 20 lakh - 4%, is proccessed rate, as per presently paid on quarterly basis.
- Cheques, dividend warrants drawn in the name of account holder(s) will only be collected through this account. Financial instruments endorsed in favour of the account holder(s) will not be collected through savings bank account.
- Get your passbook updated on presentation legibly with full entries. If the number of entries to be made is large, kindly leave the passbook against receipt showing the date when it can be collected back. You can obtain the statement of account indicating full details by 5th of every month in case you have not been issued a passbook.
- You can obtain a new cheque book when your requisition slip appears next in the current cheque book.
- For more details, please contact our Branch to serve you better.
- Current Accounts can be opened by individuals, partnership firms, private and public limited companies, HUFs /specified associates, trusts, etc.
- As required by law, while opening this account, we satisfy ourselves about the identity, including verification of address, of a person(s) seeking to open an account to assist in protecting the right of customer(s) and ourselves against fraud and other misuses of the banking system.
- We also require to obtain two recent photographs of the person(s) opening/operating the account, as per RBI directives.
- You are required to give Aadhaar and Permanent Account Number (PAN) or alternatively obtain declaration in Form No. 60 or 61 as per the Income Tax Act (vide Section 139A) from the person(s) opening the account (i.e. including partners of Registered/Unregistered partnership as also Registered / Incorporated bodies / companies).
- We provide to our prospective customers details of the documents/required for identification of the person(s) opening the account in addition to a satisfactory introduction.
- Minimum balance as stipulated from time to time is required to be maintained and no interest is paid on credit balances kept in current account.
Services charges are levied for:
- Ledger folio used
- Cheque Books issued
- Non-maintenance of minimum balance.
- Return of cheques etc.
- Other facilities as required by the Current Account Customer.
For opening special types of current accounts like for Executors Administrators, Trustees, Liquidators, etc., the Branch Manager may be contacted who will help in opening these type of accounts.
As per RBI directives, the applicant (i.e. account opener) should declare in the account opening form or separately that he is not enjoying any Credit facility with any Bank and if he does enjoy any facility/facilities he should declare full particulars therefore indicating the name of the Bank and name of the Branch, wherefrom he has availed these facilities.
Term Deposit Accounts
- We have tailored various deposit schemes to suit the needs and expectations for investing in every walk of life, which are prominently displayed at our branches for your convenience. We welcome you to seek more details and shall also be glad to assist in the area of investment in various deposit schemes vis-a-vis your requirement.
- Term Deposit accounts can be opened by individuals, partnership firms, private and public limited companies, HUFs/specified associates, etc.
- As required by law, while opening this account, we satisfy ourselves about the identity, including verification of address, of a person(s) seeking to open an account, to assist in protecting the prospective customer(s), members of the public and ourselves against fraud and other misuses of the banking system.
- We also require to obtain Aadhaar and Permanent Account Number (PAN) or alternatively obtain declaration in Form No. 60 or 61 as per the Income Tax Act (vide Section 139 A) from the person(s) opening the account.
- Premature withdrawals are allowed, unless specified otherwise, at the rate applicable to the amount and period for which the deposit remained with the Bank and not at the contracted rate, subject to penalty, if any prescribed by the Bank. No interest will be paid on premature withdrawals of deposit which has remained with the Bank for less than 7 days. For more details of interest rates, please contact our Branch Manager.
- Generally loans/overdrafts against deposits are allowed, except on Certificates of Deposit (CD). Such loans are sanctioned by charging interest at rates directed by RBI from time to time or as prescribed by the Bank and automatic renewal of FDRs are also available. Interest on overdue deposit is paid, if the deposit is renewed, as decided by the Bank from time to time.
- Interest on deposits is payable either monthly at discounted value or quarterly or compounded quarterly (i.e. reinvestment of interest) or on the date of maturity at the option of the depositor as applicable under particular deposit scheme.
- Interest on Bank deposit is exempted from Income Tax upto a limit, specified by Income Tax authorities from time to time, as per Govt. norms.
- We accept the declaration in Form No. 15 H/ 15 G preferably at the commencement of the Financial year for receiving interest on deposits without deduction of tax.
- We issue TDS Certificate for tax deducted, within time schedule as per law.
- Transfer of funds on maturity of terms deposits as well as periodical interest on such deposits to another branch of the Bank is done at par.
Capital Gain Scheme - The Tax Saver Scheme
Exemption of Capital Gain Tax under Section 54B, 54D, 54F and 54G of I.T. Act, 1961 is available on amount deposited under Account 'A' (Saving Deposit) and/or Account 'B' (Term Deposit) with option to keep deposit on cumulative or non-cumulative basis at Branches.
As directed by the RBI, we do not insist on succession certificate from legal heirs in accounts having survivorship / nominee irrespective of amount involved.
Standing instructions can be given to the Bank for transfer/remittance of funds from one account to other account(s) maintained in the same Branch, any other Branch of the bank or any other Bank or any other third party.
The facility of Safe Deposit Lockers is an ancillary service offered by our Bank. The Branches offering this facility will indicate/display this information at a prominent place.
The major aspects governing the services are :
- A locker may be hired by an individual (not minor) firms, limited companies, specified associations and societies etc.
- Nomination facility is available to individual hirer of Safe Deposit locker.
- Loss of key should be immediately informed to the Branch and customer will be charged for break-opening of the Locker. Lockers are available in different sizes.
- Lockers are rented out for a minimum period of one year as per bank's policy. In case of overdue rent, the Bank will charge penalty as decided from time to time.
- With standing instruction, the rent may be paid from the deposit account of the hirer.
- We will issue locker only to properly introduced persons.
- We reserve our right to break open the locker if the rent is not paid inspite of giving notices as per the Bank rules and recover charges thereof.
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 and sealed with the customer's seal. Relationship of Banker and customer shall be that of Bailer & 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 proprietary 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 lifetime. While making nomination, cancellation or variation, witness is required and all account holders should sign the request.
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 requested to avail nomination facility, if they have not availed said facility so far.
- Central Civil
- Pension slip from the pension paying branch.
- SMS alert on mobile phone with pension payment details.
- Annual statement of pension from branch.
- Quick grievance redressal system.
- Acceptance of form 15(G)/15(H) at Branch Office.
Exemptions: Exemptions of minimum balance, incidental charges, withdrawal of pension by withdrawal form to the pensioner's dependent are available.
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 utilize the facility of Electronic Funds Transfer (EFT) System operated through RBI for transferring funds to and from Delhi, Kolkata, Chennai, Mumbai, Jaipur, Chandigarh, Kanpur, Patna, Guwahati, Ahemadabad, Bhuvneshwar, Nagpur, Hyderabad, Bangalore and Tiruvanantapuram, Upto Rs. 2 crores per remittance.
Demand Drafts, telegraphic and pay orders for Rs. 50,000/- and above will be issued by the Banks only by deposit 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. Bank shall not make payment of cheques/ draft/ pay orders/ banker’s cheques, if they are presented beyond the period of three months from the date of such instrument.
As directed by the RBI, we will issue duplicate demand draft upto Rs. 5000/- on the basis of adequate indemnity and without obtaining Non-Payment Advice from the drawee Branch.
Duplicate FDR shall be issued by home branch after following due diligence and obtaining indemnity bonds & undertaking from the customers.
Policy on collection of cheques payable locally
The Customer's account shall be credited in respect of local cheques deposited at the counters / dropped in drop boxes within the time indicated for local clearing, on the same day when the bank?s account is credited in the clearing house. Each branch would specify its own cut-off time depending upon its working hours and distance from the clearing house. The branch shall permit usage of the shadow credit afforded to the customer accounts immediately after closure of relative return clearing, subject to usual safeguards.
Time frame for affording customer's Account
Cheques to be collected at State Capital in 7 days, major Metropolitan centers in 10 days and at other centers in 14 days.
Policy of compensation on Delayed collection
The bank will pay interest to its customers on delayed collection as applicable on saving bank deposit for the delayed period beyond the prescribed period i.e 7/10/14 days as the case may be . Such interest shall be paid without demand from the customers in all types of accounts.
Procedure for handling the dishonoured cheques or lost in transit
In the event a cheque or an instrument accepted for collection is lost in transit or in clearing process or at the paying bank's branch, the bank shall immediately on coming to know of the loss , bring the same to the notice of account holder so that the account holder can inform the drawer to record stop payment and also take care that cheques, if any, issued by him/ her are not dishonored due to non- credit of the amount of the lost cheque / instruments. The bank would pay interest at saving bank rate if the notice of the cheque / instrument having been lost is given after the maximum prescribed period for the collection of outstation cheques i.e 7/10/14 days, as applicable. Such interest will be paid for the number of days the delay occurred in giving notice to the customer beyond these prescribed 7/10/14 days as applicable.
The Bank shall not be liable to compensate customer for delayed credit if some unforeseen event (including but not limited to civil commotion , sabotage, lockout, strike or other labour disturbances , accident ,fires, natural disaster or other " Acts of GOD't; , war damage to the bank's facilities or of its correspondent bank(s), absence of the usual means of communication or all types of transportation ,etc) beyond the control of the bank prevents it from performing its obligations within the specified service delivery parameters
Facility of Immediate credit of cheques sent for collection local and outstation.
The instant credit of outstation / local cheques are permitted only up to Rs. 5000/-, subject to usual safeguards as conveyed earlier for permitting such credit, which are as under
- Bank should be satisfied about the proper conduct of the account of customer.
- The Bank will extend the facility to all individual depositors without making a distinction about their status i.e Saving Bank , Current or Cash credit.
- The Bank should not lay any separate stipulation for minimum balance for extending the facility.
- The facility is also to be allowed to the customers at the Bank?s Extension Counters subject to usual precautions taken by the banks.
- The handling charges for local cheques and outstation cheques will be as per Service Charges of the bank.
- In case where the instrument of face value exceeding Rs. 5,000/- is received for clearing and the proceeds of the instrument are credited to the account, in whatever manner, in advance of the date or actual realization of the account, interest at the stipulated rate (in addition to the usual service charges prescribed by the Bank), shall also be charged for the period for which outlay of funds is involved.
- If cheques / instrument for which immediate credit has been afforded is returned unpaid bank shall recover interest at clean overdraft rate for the period bank remained out of funds and recover prescribed cheque returned charges subject to the following
- No interest will be charged to the customer for the period between the date of credit of the outstation cheque lodged and its return, unless the bank had remained out of funds on account of withdrawal of funds.
- Bank will charge interest from the date of return of the cheque till reimbursement of money to the bank.
- Where the cheque is credited to a Saving Bank Account ,no interest will be payable on the amount so credited if the cheque is returned.
- If the proceeds are credited in overdraft / Loan account , interest would be recovered at applicable rate on the amount of returned cheque / instrument .
The salient features of the Bank's policy with regard to the collection period of outstation cheques and interest payable in case of delay should be prominently displayed in each branch.
A copy of the complete policy shall be made available by the Branch Manager, if the consumers require the same for reading.
The salient features highlighting the rights of the consumers shall also be displayed on the notice board of each branch of the Banks.
Branches are advised to ensure that the cheques are collected within the given time frame so that bank is not required to pay any penal interest for delayed collection.
Zonal Managers are advised to ensure that each branch under their jurisdiction displays its own cut-off time for acceptance of cheques at the counters / deposited in drop Boxes for clearing on the same day on the Drop Box of the Branch / on the Notice Board. Besides Zonal Managers are to monitor and ensure compliance of above in all the branches under their jurisdiction.
The Bank handles collection of various Direct and Indirect Taxes such as Income Tax, Corporation Tax, Service Tax, Excise duty and GST.
- Presently there are 279 Branches which are authorized for collection of Direct Taxes. Direct Taxes can be paid through Cash or Cheque and also online through Internet Banking.
- Indirect Tax such as Service Tax and Central Excise Duty can be paid using Internet Banking facility.
- All branches are authorized for collection of GST which can be paid in Cash, Cheque same bank/other bank, Demand Draft same bank/other bank, NEFT/RTGS or online through Internet Banking.
The Bank also provides for collection of various Govt. Small Savings Schemes such as Public Provident Fund (PPF), Senior Citizen Saving Scheme (SCSS) and Sukanya Samridhi Yojana.
As per guidelines received from Ministry of Finance, all branches of the Bank are now authorized for collection in Govt. Small Savings Schemes such as Public Provident Fund (PPF), Sukanya Samridhi Account (SSA) and Senior Citizen Saving Scheme (SCSS).
These Small Savings schemes are implemented by National Savings Institute (NSI), under Ministry of Finance. Patrons are requested to visit their site for latest instructions regarding these schemes.
- We issue fresh / good quality Notes and Coins of all denominations on demand.
- We exchange soiled / mutilated / defective Notes.
- We accept Coins and Notes either for transactions or exchange.
- Sufficient coins are available for the customer / general public.
- if the banknote tendered here is found to be counterfeit, an acknowledgement receipt will be issued to the tenderer, after stamping the note. "COUNTERFEIT BANK NOTE".
For your convenience, the prevailing rates on deposits are displayed prominently at each branch, which are subject to revision from time to time.
We provide various services to customers, for which service charges are levied. The charges are reviewed/revised from time to time.
Our Bank has nine specialized International banking Divisions (IBDs) and 28 other Authorised Branches to handle Foreign Exchange Business. Besides this, we have a Global Banking Centre at Connaught Place, New Delhi to provide services to Non-Resident Indians with regard to deposit account
We have various exclusive deposit schemes for Non-Resident Indians living abroad as well as returning back to India after their venture abroad.
These schemes are:
- NRE, (Non-Resident External Account)
- FCNR (Foreign Currency Non-Resident) Account, available for various durations from 1 year to 5 year as per RBI guidelines from time to time
- RFC (Resident Foreign Currency) Account, available for various durations from 1year to 3 years as per RBI guidelines from time to time..
- FCNR account can be opened in US Dollar, GB Pound, Euro, Canadian Dollar and Australian Dollar. The account is maintained in foreign currency and the risk of exchange rate fluctuation is borne by the bank.
The IBDs and authorized branches cater to the needs of exporter and importer clients for various services such as
- Providing fund based finance for exports at concessional rate of interest at pre-shipment as well as post-shipment stage.
- Providing non-fund based facilities i.e. opening of import letter of credit to enable import of raw materials and machinery, issue of bank guarantees, etc.
- Negotiation of export bills under letter of credit.
- Collection of export/import documents.
- Advising of letter of credit with or without adding conformation.
- Remittance of funds through SWIFT, foreign currency drafts, etc.
- Foreign currency notes within the framework of exchange control guidelines.
- The Bank also grants loan against the security of deposits receipts of NRIs.
We have a network of correspondent banks across the Globe in almost all the major foreign currencies.
Name and addresses of all our specialized branches are given in Schedule-VI at the last.
We have the attractive loan schemes suitable to different segment of customers. The details of important loan scheme of our bank are given in Schedule-IV at the last.
- Fresh/Enhancement Proposal 10 days 10 days
- Renewal/Reviewal Proposal 07 days
- Adhoc 05 days 03 days
Identity Cards valid for one year are issued to those having Current/Cash Credit Accounts as well as to their authorised representatives at a fee of Rs. 100/-.
Credit is given for Mail Transfer within seven days (ten days in the case of North-Eastern States) from the date of deposit of funds.
Telegraphic Transfers issued from and payable at State Capitals and Centres having population above 12 lakhs will be value-dated from third day.
In case of delays, Bank will pay interest at the rate applicable on Saving Bank Deposit for the period of delay.
When due date of a term deposit happens to be a holiday or a non-business working day, then you are paid interest for the intervening holiday/non-business working day.
Collection of instruments favouring religious, welfare, service and charitable institutions is done at par. Issue of drafts, pay orders, mail/telegraphic transfers of these institutions is done at par. However, postage is recovered, institutions exempted from payment of Income Tax are only eligible.
Concessions are extended to Defence Personnels in active service only. Collection of outstation cheques/drafts, etc., as well as issue of drafts, pay-orders, mail-telegraphic transfers in their account is done at par but postage is recovered.
Institutions set up for the benefit of blind, physically handicapped and disabled individuals are allowed, collection of up-country instruments at par. Similarly, payments made by these institutions to their own beneficiaries by way of drafts, pay orders, mail/telegraphic transfers are allowed, free of charge. However, postage cost is recoverable. These institutions to be eligible for concessions should be exempted from levy of Income Tax.
The individual accounts of the above categories of persons are identified by the Branch Managers at the time of opening the accounts, banking services such as issue of drafts, pay orders, mail/telegraphic transfers are rendered to the debit of the personal account only and not against Cash, Postage expenses are however recovered separately.
Additional Interest and Incentives are available for Senior Citizens. The Bank has special schemes for the Senior Citizens, As of now, the Bank is offering extra rate of interest of 0.50% with maturity period 180 days and above. They can also avail free facility of collection / remittance of funds upto certain limit, latest details are available with the branches of the Bank..
For Saving Bank Accounts of individuals, 30 cheque leaves free of charge in a calendar year shall be supplied. A service charge @ Rs. 3/- per leaf shall be levied for cheque books supplied over and above the aforesaid limit. Service charges are subject to change without notice..
We will provide all the services and honour the commitment to the clients without payment of any bribe.
If deposit account is transferred within the bank from one Branch to another and there is continuity in the account, then interest is payable for the transit period as well.
We request you as our customers to please note the following duties to enable us to serve you better.
- Ensure safe custody of cheque book and pass book.
- Preferably use reverse carbon while writing a cheque.
- Issue crossed/account payee cheques as far as possible.
- Check the details of the cheque, namely, date, amount in words and figures, crossing, etc., before issuing it. As far as possible, issue cheques are rounding off the amount to nearest rupee.
- Not to issue cheque without adequate balance, maintain minimum balance as specified by the Bank.
- Send cheques and other financial instruments by Registered Post or by courier.
- Bring pass book while withdrawing cash from Saving Bank account through withdrawal slip. Get pass book updated from time to time.
- Use nomination facility in all deposits accounts & locker facility.
- Note down account numbers, details of FDR, locker numbers, etc., separately.
- Inform change of address, telephone number etc., to the Branch.
- Inform loss of demand draft, fixed deposit receipt, cheque leave(s) /book, key of locker, etc., immediately to the Branch.
- Avail standing instructions facility to repeat transactions.
- Provide feedback on our service.
- Pay interest, installments, locker rent and other dues on time.
- Avail services such as ATM, EFT, etc., if offered by the branch.
- Bring any deficiency in services to the notice of the Branch Manager.
- Not to sign blank cheque(s). So also do not record your specimen signature either on pass book or on cheque book.
- Not to introduce any person, who is not personally known to you for the purpose of opening account.
- Not to bribe any staff member, to avail corruption free service.
"Customer Day” is observed at all the Offices of the Bank across the Organization covering Branches, Zonal Offices and Head Office on 15th of every month ( next day, if 15th is a holiday). On this day, any customer can meet Senior/ Top Executives of the Bank, including Chairman & Managing Director without prior appointment.
In case of any complaint, the matter may first be brought to the notice of concerned Branch Manager for immediate redressal. If the complaint is not redressed to the satisfaction of the customer, the matter may be taken up with the Zonal Manager.
If the complainant still feels unsatisfied with the response received, he can address his complaint giving full detail of the case to Bank's Nodal Officer at Head Office designated to deal with Customers Complaints/ Grievances. The customer can lodge/ track complaint online at the link “ Complaint registration” on Bank's website.
The Bank shall examine the grievances as per the Internal Grievances Redressal Mechanism and in case the Bank decides to reject a complaint or decides to provide only partial relief to the complainant, it shall escalate such cases to the Internal Ombudsman ( IO) for further examination.
Reply to the complainant on receipt of comments of the IO shall be addressed primarily by the Bank mentioning explicitly that the complaint has also been examined by the IO. Only under such circumstances, where a resolution has been made by agreement by the IO with a complainant and the IO has obtained the resolution in writing signed by the complainant and furnished to the Bank for records, a reply to the complainant would be issued by IO on behalf of the Bank, with an endorsement to the Bank. To ensure such agreement, if the IO feels the requirement of direct feedback/ clarifications from the complainant, IO can interact/ meet the complainant.
If still not satisfied, the customer is free to take recourse to the followings:
- Office of the Banking Ombudsman located in State Capitals under RBI Ombudsman Scheme, 2006.
- Directorate of Public Grievances, Govt. of India, Cabinet Secretariat, Sansad Marg, New Delhi.
- Distt. Consumer Forum, under Consumer Protection Act, 1985,
- (a) The evidence of wilful default on the part of the borrowing company and its promoter/whole-time director at the relevant time should be examined by a Committee headed by an Executive Director and consisting of two other senior officers of the rank of GM/ DGM. Further, GM (A) and GM (L&R) shall be other members of the committee.
- (b) If the Committee concludes that an event of wilful default has occurred, it shall issue a Show Cause Notice to the concerned borrower and the promoter/whole-time director and call for their submissions and after considering their submissions issue an order recording the fact of wilful default and the reasons for the same. An opportunity should be given to the borrower and the promoter/whole-time director for a personal hearing if the Committee feels such an opportunity is necessary.
- (c) The Order of the Committee should be reviewed by another Committee headed by the Chairman / CEO and MD and consisting, in addition, of two independent directors of the Bank and the Order shall become final only after it is confirmed by the said Review Committee.
In case any clarification is required on matters relating to customer service as given in Citizens Charter and for all complaint against working of branches, please contact the followings:
Redressal of Grievances of Customers
In case of complaints related to Corruption/Bribe etc. same can be sent to
The Chief Vigilance Officer
Punjab & Sind Bank ,” Bank House”
Head Office Vigilance Department,
3rd Floor, 21, Rajendra Place,
Contact Nos. 011-25737321 & 011-25818411.
In case of complaints related to ATMs only, the same can be sent to:
Grievances Redressal Cell - ATM
Name : Sh. Mukesh Kumar
Designation – Sr. Manager
Punjab & Sind Bank, “Bank House”
HO. ATM Cell
2nd Floor, 21, Rajendra Place, New Delhi
Telephone : 011-64780503, 011-25819872/73
Email : atmcell[at]psb[dot]co[dot]in, atm[dot]operations[at]psb[dot]co[dot]in
In case of complaints related to pension only, the same can be sent to:
Grievance Redressal Cell – Pension
Name: Smt. Kushum Malhortra
Designation: Chief Manager
Punjab & Sind Bank,
HO. Pension Cell
A25, First Floor Community centre
Jawala Heri, Paschime Vihar, New Post Office, 110063
Telephone No:011-25281210, 25271585
In case of complaints related to Education Loans only, the same can be sent to
GRIEVANCE REDRESSAL CELL - EDUCATION LOANS
Name: Sh B.K.Sood
Designation: Asstt. General Manager
Punjab & Sind Bank, “Bank House”
H.O. Retail Lending Department
5th Floor, 21, Rajendra Place, New Delhi
Principal Nodal Officer for Redressal of Complaints
Sh. Gopal Krishan,
Deputy General Manager (Inspection - Independent Charge),
Punjab & Sind Bank, "Bank House",
6th Floor, 21, Rajendra Place, New Delhi 110008
Tel. No. 011- 25812931,
Toll Free No. 1800 11 1908
Nodal Officer for Redressal of Complaints
Sh. Raju Das,
Assistant General Manager (Inspection),
Punjab & Sind Bank,
2nd Floor, 6 Scindia House,
Connaught Place, New Delhi -110001
Tel no. 011-23322097, 23716647
The Zonal Manager is A Designated Nodal Officers for Public Grievances at Zonaloffices
The address of the Zonal Offices is given in Schedule-III.
For Staff Matters
General Manager (Personnel)
Punjab & Sind Bank, Bank House, 21 Rajendra Place, 5th Floor
New Delhi-110 008. Phone : 25817353
For all Advances & Export Credit
General Manager (Advances) Punjab & Sind Bank, Bank House, 21 Rajendra Place,
New Delhi-110 008. Phone : 25783589
Other official who can be contacted
Deputy General Manager (Planning & Development)
Punjab & Sind Bank, Bank House, 21 Rajendra Place,
New Delhi-110 008.
The Customer Service Division,
Punjab & Sind Bank, Bank House, 21 Rajendra Place,
New Delhi-110 008.
The Customer Service Division,
Punjab & Sind Bank, Bank House, 21 Rajendra Place,
New Delhi-110 008.
Important Loan Schemes of The Bank
1. Credit Facilities for Agriculturists : There are number of credit schemes to meet the various credit needs of farmers available at all general banking branches. Some of the Schemes are as under. -
PSB Kisan Credit Card: PSB KCC Scheme aims at providing adequate and timely credit support to meet short term credit requirement, post harvest expenses to all farmers including SHGs & JLGs for their cultivation & other needs.
PSB Tractor Finance & Tractor Welfare Fund Scheme:Bank has adopted a very liberal policy for Tractor Financing. A farmer cultivating a minimum of 8 Acres of irrigated agricultural land is eligible for a tractor loan, repayable in equated half yearly installments over a period of upto 9 years
*PSB Scheme for Boosting Farm Machanization: Any farmer having minimum 2 acre agricultural land is eligible for loan to purchase Power tillers/ threshers/Reapers/ Tractor/ sprayer/laser land leveller/bulldozers/ JCBs/ Well Boring/ Combine Harvester as well as for its repair/renovation.
*PSB Kisan Suvidha Scheme :An Individual farmer/ joint borrower who are existing Kisan Credit Card (KCC) holders are eligible for additional investment credit for agriculture purposes. Rs 50,000/- per acre of owned land with maximum of Rs.5 Lakh
*PSB Scheme of Financing Two Wheeler/Jeep/Car/ SUV For Farmers
Though two wheelers/Jeep/Car/SUV are not directly engaged in farming operation but they have good use for a farmer in timely sourcing of various farm inputs and disposing of farm produce.
*PSB Scheme for Financing Seed Production & Processing Units :In this scheme credit provided for Seed Production and Processing Units upto Rs.2.00 crore (per borrower). Both term loan as well as working capital facilities are available under the scheme.
*PSB Scheme on Financing Food and Agro Processing Units :Any individual or group of individuals/producers group/ organization/ institution which are dependent upon agriculture/allied/marine produce are eligible for finance under the scheme except Rice Shellers.Both Funded and non funded credit facilities are available to agro and food processing units.
*PSB Policy For Financing Rice Shellers:The advances to Rice Shellers may be for term loans, working capital and/or export finance. Adequate and timely working capital is made available to Rice Shellers. An ODP limit of upto Rs.2 crore is allowed under the scheme
*PSB Agri-Produce Pledge Loan (against warehouse receipt) Scheme :Farmers (Individual and group/associations of Farmers i.e. SHGs/JLGs/FPOs), individuals or groups engaged in agricultural allied activities, food and agro processing units, food grain dealers/commission agents/millers are eligible for loan against pledge of agri- produce upto 65% of the value of farm produce.
Besides, there are schemes for
- Purchase of agriculture land for small, marginal borrowers and agricultural labourers.
- Purchase of new/old tractors, farm machinery.
- Composite loan scheme Kheti Udyog Khazana Yojana.
- Purchase of Harvestor Combine.
- Purchase of Two Wheelers by the farmers.
Bank has introduced a Joint Mortgage deed for the convenience of farmers to facilitate availment of agriculture loans without having to execute the deed every now and then.
Micro, Small & Medium Enterprises (MSMEs) : We extend credit to MSMEs for meeting financial requirements for purchase of machinery and equipement, for construction of building, for working capital requirements etc. There is provision for collateral free credit up to Rs.200.00 lakh to MSE units which are covered under CGTMSE. Upfront guarantee fee under this scheme is borne by the Bank for credit facilities up to Rs.5.00 lakh.
PSB Housing Loan: The Bank has a very liberal policy for housing finance to the members of the public.
PSB Auto Loan: Under this scheme a borrower can get a loan to buy a four/ two wheeler vehicle on very attractive terms for personal use. An individual can club his/her income with that of his/her spouse to avail higher loans. Minimum formalities, simple paperwork and effortless procedure are the main attraction of this scheme.
Educational Loan : To encourage the youth in attaining expertise in educational and professional fields, our Bank is making available need based finance for studies in India and abroad at attractive terms..
Loan against own Deposit/Govt. Securities : We offer loan against bank's own deposit and Govt. Securities like NSCs, IVP/KVC, etc., for personal use or business purpose. A margin of 25% is to be maintained on the principal investment.
Personal Loan Facility : The Bank offers personal loan facility to the salaried class Govt./PSU employees and Pensioners having their pension account with our Bank at attractive terms.
PSB Mortgage Loan, PSB Vyapar Loan & PSB SME Liquid Plus Loan Schemes : Under these schemes credit facilities against the mortgage of property is made available to the business concerns at attractive terms..
Loan against rent receivables : We offer this scheme to land lords/owners of commercial, residential property who have rented their premises to Govt. Deptt./PSUs/Pvt. Ltd. Cos./MNCs/Embassy or any other organization of repute. Loan to the extent of 80% of rent receivable during the period of tenancy or 60 months whichever is lower, less income tax payable and any other local tax/maintenance charges to be paid by tenants. Amount of credit should not exceed 40% of the market value of the property to be mortgaged.
PSB Kisan Home Loan Scheme : Under this scheme the Bank through Rural & Semi Urban Branches extends easy and convenient credit to individuals desirous of constructing/acquiring new dwelling units and for improving/adding to existing units in rural and semi urban areas.
Deendayal Antyodaya Yojana-National Urban Livelihoods Mission (DAY-NULM): An urban poor individual beneficiary and a Self Help Group (SHG) or members of an SHG constituted under DAY-NULM or a group of urban poor desirous of setting up an individual micro-enterprise for self-employment can avail benefit of subsidized loan under this component from any bank. The Maximum unit Project Cost for individual micro-enterprises cases is Rs. 2,00,000 (Rs. Two Lakh) and the Maximum unit Project Cost for a group finance for enterprise is Rs.10,00,000 (Rs.Ten Lakh).
Deendayal Antyodaya Yojana-National Rural Livelihoods Mission (DAY-NRLM): Under this scheme, Self Help Group consisting of 10 to 20 members can be benefited. All women SHGs will be eligible for interest subvention on credit upto Rs.3 lakhs at 7% per annum and prompt payee accounts will also be eligible for the additional interest subvention of 3%. The amount of loan is given as per cost prescribed by NABARD. Repayment of loan in 5 to 9 years.
Prime Minister Employment Generation Programme (PMEGP):- This scheme aims to provide generation of employment opportunities through establishment of micro enterprises in rural as well as urban areas. Any individual above 18 years of age and having minimum passing qualification of Std. VIII is eligible under the scheme. The maximum margin money subsidy is 25% under General category and 35% for Special category (including SC / ST / OBC /Minorities/Women, Ex-servicemen, Physically handicapped, NER, Hill and Border areas etc. The scheme is being operational through online mode only (through e-Portal of PMEGP) w.e.f 01.07.2016.
Differential Rate of Interest (DRI) Scheme:
Self Employment Scheme for rehabilitation of Manual Scavengers (SRMS): The eligibility for assistance under this scheme- Scavengers and their dependents, irrespective of their income, who are yet to be provided assistance for rehabilitation under any scheme of Government of India/ State Government
Committee on Procedure and Performances audit on Public Services (cppaps) and Customer Service Committee of Board:
An Adhoc Committee on procedures and performances Audit on Customer Services has been constituted in our bank, which is chaired by Executive Director, General Managers and also include non-officials from Customers as its members to enable an independent feedback on the quality of Customer Service rendered by the bank.
The Adhoc Committee has been entrusted not only the task of ensuring timely and effective implementation of the RBI instructions, but also that it receives the necessary feedback to determine that the action taken by various departments of the bank are in tune with the spirit and intent of such instructions. Further it is reviewing the practice and procedures prevalent in the bank and take necessary corrective action, on an ongoing basis.
A brief report on the performances of the Adhoc Committee indicating inter-alia, the areas reviewed, procedures/practices identified and simplified/introduced are being submitted periodically to the customer services committee of the Board on customers which is the apex committee of the bank with Chairman and two directors as its members.
Salient action already taken by the Bank on the recommendations of CPPAPS and Bank's Adhoc Committee are briefed as under:
- Cheque Drop Box Facility: Branches are providing the Customers both the Cheque drop box facility and the facility for acknowledgment, if the customer tenders the cheque at the counters. The rights of the customer to obtain an acknowledgment is not being deprived by the concerned counter.
- Issue of Cheque books: Branches have been advised to stop the unfair practice of if being followed, to send the cheque books by courier and also obtaining undertaking from the borrowers for not being liable if there is any loss. They have also being advised not to charge for the courier charges for such dispatches.
- The Statement of Accounts/Pass Books: The Branches are providing as much detail as possible in respect of entries relating to clearing/ECS/Electronic fund Transfer etc. Therefore, they have been advised to avoid such inscrutable entries in Pass Book/statement of accounts and ensure that brief, legible particulars are invariably entered in Passbooks/Statement of account. Further, branches are instructed to ensure that they adhere to the monthly periodicity prescribed while sending statement of account.
- Maintenance of Minimum balance in Saving Bank/Current accounts and service charges thereof: Branches are advising the customers at the time of opening of the account about the requirement of maintaining the minimum balance in the account and levying of charges, if prescribed minimum balances are not maintained. Further, all the revised charges are to be made effective with at least one month notice to the customers.
- Currency Management : The clean Note Policy of the RBI has been implemented in toto in our bank. The branches are being provided note counting and note banding machines as per the requirement.
- Exchange Control Matters: Our Adhoc committee has simplified the format of some of the forms relating to foreign exchange transactions as per recommendations of the RBI. The newly developed forms are:
- R-Returns (NOSTRO)
- R-Returns (VOSTRO)
- New purpose codes for Forex transactions.
- Form A2 cum declaration (Under FEMA-99)
- Form for purpose code to be used by banks.
Further the limit for simplified documentation was enhanced for all miscellaneous transactions up to US $ 5000 with out Form A2.
*A2 form dispensed with and model application cum undertaking introduced for liberalized Remittance scheme of US $ 25000 per annum.
Adoption of Model Policy on Bank Deposits
The Bank has prepared and circulated a Model Policy on Bank Deposits which is a policy document on deposit, outlining the guiding principles in respect of formulation of various deposit products offered by the bank and terms and conditions governing the conduct of the account. The document recognizes the rights of depositors and aim at dissemination with regard to various aspects of acceptance of deposits from members of the public, conduct and operations of various deposit accounts, closure of deposit accounts, method of disposal of deposits of deceased depositors etc., for the benefits of customers. It is expected that this document will impact greater transparency in dealing with the individual customers and create awareness among customers of their rights. The ultimate objective is to provides Customers the services they are rightfully entitled to receive without demand.
Our Model Policy of Deposit contains the detail guidelines on the following
- Documents required to be submitted at the time of opening account - due diligence required and Know Your Customer guidelines.
- Bank's service charges for operation of account and for minimum balance.
- Operation of Joint Account/Minor's Account/Accounts of illiterate and Blind persons.
- Nomination facility.
- Interest payments.
- Secrecy of customer's account.
- Premature withdrawal/Renewal of Terms Deposit.
- Renewal of overdue Term deposits.
- Advances against deposits.
- Settlement of dues in deceased deposit account and interest payment in such account.
- Insurance cover for depositors.
- Stop payment facility.
- Treatment of dormant accounts.
- Safe deposit Lockers.
The customers may obtain a copy of the same from Branch Managers.
1. Application for firms
List of Specialized Branches
Special Assets Recovery Branches (ARB)
- ARB - 1, New Delhi, 3rd Floor, Bank House, 21-Rajendra Place, New Delhi-110 008.
- ARB - Mumbai, Dr. Anne Besant Road, Opp. Poddar Hospital, Worli, Mumbai-400 025.
- ARB - Kolkatta, 72 Asthutosh Mukerji Road, Koklatta-700 025.
- ARB - Amritsar, 1st Floor, Sharif Pura, Amritsar-143 001.
- ARB - Chandigarh, SCO NO. 62, Sector 26, Chandigarh.
- ARB - II, New Delhi, M-14, M-Block, Connaught Place, New Delhi-110 001
- IFB Ludhiana, 14321, G.T. Road, Dholewala Chowk, Ludhiana.
- IFB Amritsar, Hall Bazar, Amritsar.
- IFB Chandigarh, 17-B, Zonal Office Building, Chandigarh.
- IFB New Delhi, 18/90, Madras Hotel, Connaught Place, New Delhi-110 001.
Hire Purchase, Leasing & Finance Branches
HP Leasing & Fin. Chikamberpur, Yuvraj Complex, Delhi-UP Border, Distt. Ghaziabad.
Specialized Personal Banking Brnaches
- SPB Panchkulla, SCF-251, Sector-16, Panchkulla (Haryana).
- SPB Patiala, SCO-2, Commercial Complex, Kheri Gujran Road, Officer Colony, Patiala-147 001.
- SPB Ludhiana, 88-Green Field, Pakhowal Road, Ludhiana-141 002.
- SPB Bhopal, 90, M.P. Nagar, Zone-II, Bhopal-462 011.
- SPB Mohali, SCO-14, Phase-X, SAS Nagar, Mohali Distt. Ropar.