A

Seminar REPORT ON

BANKING AT

“ THE PUNJAB STATE COOPERATIVE BANK LTD.”

Submitted To: Dr. Nidhi Sabarwal Submitted By: Supreet Singh

(Assistant Professor) B.com (hons.) 5th sem

Roll no. – 17110011621

(17303023)

PG Department of Commerce and Business Administration

Khalsa College Amritsar -143001

 ACKNOWLEDGEMENT

I take this opportunity to express my deep sense of gratitude, thanks and regards towards all of
those who have directly or indirectly helped me in the successful completion of this project.

I present my sincere thanks to Mr. XXXX XXXX (Branch Manager,Jandiala) who allowed me
to take training at Cooperative Bank,Jandiala Guru.

I would also like to thank cooperative bank Staff for their wonderful support & inspirable
guiding.

I also thank Dr. Avatar Singh (DEAN) and Dr. Nidhi sabarwal (ASSISTANT PROFESSOR)
who has sincerely supported me with the valuable insights into the completion of this project.

I am grateful to all faculty members of Cooperative Bank ,Jandiala Guru and my friends who
have helped me in the successful completion of this project.

Last but not the least I am indebted to my PARENTS who provided me their time, support and
inspiration needed to prepare this report.

SUPREET SINGH
 HISTORY OF BANKING

Banking is nearly as old as civilization. The history of banking could be said to have started with
the appearance of money. The first record of minted metal coins was in Mesopotamia in about
2500B.C. the first European banknotes, which was handwritten appeared in1661, in Sweden.
cheque and printed paper money appeared in the 1700’s and 1800’s, with many banks created to
deal with increasing trade.

The history of banking in each country runs in lines with the development of trade and industry,
and with the level of political confidence and stability. The ancient Romans developed an
advanced banking system to serve their vast trade network, which extended throughout Europe,
Asia and Africa.

Modern banking began in Venice. The word bank comes from the Italian word “ban co”,
meaning bench, because moneylenders worked on benches in market places. The bank of Venice
was established in 1171 to help the government raise finance for a war.

At the same time, in England merchant started to ask goldsmiths to hold gold and silver in their
safes in return for a fee. Receipts given to the Merchant were sometimes used to buy or sell, with
the metal itself staying under lock and key. The goldsmith realized that they could lend out some
of the gold and silver that they had and charge interest, as not all of the merchants would ask for
the gold and silver back at the same time. Eventually, instead of charging the merchants, the
goldsmiths paid them to deposit their gold and silver.
 BANKING STRUCTURE IN INDIA

In today’s dynamic world banks are inevitable for the development of a country. Banks play a
pivotal role in enhancing each and every sector. They have helped bring a draw of development
on the world’s horizon and developing country like India is no exception.

Banks fulfills the role of a financial intermediary. This means that it acts as a vehicle for moving
finance from those who have surplus money to (however temporarily) those who have deficit. In
everyday branch terms the banks channel funds from depositors whose accounts are in credit to
borrowers who are in debit.

Without the intermediary of the banks both their depositors and their borrowers would have to
contact each other directly. This can and does happen of course. This is what has lead to the very
foundation of financial institution like banks.

Before few decades there existed some influential people who used to land money. But a
substantially high rate of interest was charged which made borrowing of money out of the reach
of the majority of the people so there arose a need for a financial intermediate.

The Bank have developed their roles to such an extent that a direct contact between the
depositors and borrowers in now known as disintermediation.

Banking industry has always revolved around the traditional function of taking deposits, money
transfer and making advances. Those three are closely related to each other, the objective being
to lend money, which is the profitable activity of the three. Taking deposits generates funds for
lending and money transfer services are necessary for the attention of deposits. The Bank have
introduced progressively more sophisticated versions of these services and have diversified
introduction in numerable areas of activity not directly relating to this traditional trinity
 INTRODUCTION

THE PUNJAB STATE COOPERATIVE BANK LTD.CHANDIGARH

Organisation

The Punjab State Cooperative Bank Ltd., Chandigarh was established on 31 August 1949 at
shimla vide Registration No.720 as a principal financing institution of the cooperative movement
in the state. It has 17 branches and 1 extension counter in the city of Chandigarh. 20 Central
Cooperative Banks having 802 branches in the State of Punjab are affiliated with the bank. In the
Cooperative banking structure the position of the Punjab State Coop Bank is extremely important
as a the whole short term credit system revolves around it. This bank ensures that its member
central cooperative banks follow sound banking practices and observe strict financial discipline.
The Central Cooperative Banks are financing the farmers through PACS at the village Level.
There is no arena of life where this premier institution has not played its part. From a farmer,
artisan to traders/businessman, everybody has been covered in the fold of this institution. The
green, white and sweet revolutions in the state of Punjab are some of the major achievement in
which this institution has played a vital role.

The Punjab State Cooperative Bank has already been awarded "BEST PERFORMANCE
AWARD" by NABARD and NAFSCOB on number of occasions.

Objectives

 To serve as a Balancing Center for Cooperative Societies in the State of Punjab registered
under the Punjab Cooperative Societies Ac, 1961 for the time being in force.
 To promote the economic interest of the member banks and cooperative societies in the state in
accordance with cooperative principles and to facilitate the development and funding of any
cooperative society registered under the said act.
 To carry on banking and credit business
 Management

The Management of the bank vests with Board of Directors constituted in December 2010.

THE PUNJAB STATE COOPERATIVE BANK LTD., CHANDIGARH.

LIST OF BOARD OF DIRECTORS.

Sr Name Designation Mobile No.

No.
1. Additional Chief Secretary-cum- Chairman
Financial Commissioner,
Cooperation, Punjab.

2. Sh. Jaisrat Singh Sandhoo Vice Chairman 9815900024

3. Sh. Gurpreet Singh Maluka Director 94172-37788
4. Sh. Rajwant Singh Director 95923-24599
5. Sh. Paramjit Singh Lakhewal Director 94177-76999
6. Sh. Ranjit Singh Director 98724-44920
7. Sh. Balwinder Singh Director 98760-46305
8. Sh. Parminder Singh Pannu Director 98147-56266
9. Sh. Balwinder Singh Director 98780-00277
10. Sh. Harbeer Inder Singh Zira Director 86990-00001
11. Dr. Karamjeet Singh Professional 9876107837
Director
12. Sh. J.R. Sarangal Professional 9779021080
Director
13. Chief General Manager, NABARD Director
14. Financial Commissioner Director
Cooperation, Punjab or his
nominee
15. Registrar, Cooperative Societies, Director
Punjab, Chandigarh or his
nominee
16. Dr. S.K.Batish Director
Managing Director
ORGANISATION STRUCTURE
 Awards & Achievements

Awards

The Punjab State Cooperative Bank has been awarded "BEST PERFORMANCE AWARD" by
NABARD and NAFSCOB on number of occasions.

Punjab State Cooperative Bank along with 20 DCCBs has become first State cooperative bank in
India to start ATM, PoS/ E-Commerce services and has been awarded for this by NABARD

Achievements

1) Share Capital

Share capital is one of the major components of Bank’s own funds. At the end of the year 2013-
14, the paid up share capital of the bank was Rs.147.59 crore against Rs 83.39 crore in the year
2012-13. Thus, there is an increase of 76.98% in the year 2013-14.

2) Reserves & other funds.

Reserves and other funds are the major components of own funds which have registered a
sizeable increase during the year under report. In the year 2012-13, the Reserve Fund of the bank
were Rs.390.23 crore which rose to Rs.413.98 crore as on 31-3-2014.

3) Deposits

Deposits form the largest single source of funds of the bank and it plays a pivotal role as an
indispensable component of the working capital of the bank. Considerable increase in deposits of
the bank is being noticed during the last few years on account of customer oriented efforts put up
by the staff.

The deposits of the bank have increased to Rs 2972.57 crore as on 31.3.2014 from Rs 2813.02
crore as on 31.3.2013 thus showing an increase of 5.76% over last year.

4) Borrowings

To meet the credit gap and to fulfill the bank’s financial obligations under different types of
lending programmes, the bank acts as facilitator for financial assistance received from
NABARD, NCDC, Government and other national financial institutions to CCBs.

Borrowings during the year 2013-14 were of Rs 6053.99 crore against Rs 5539.68 crore in the
year 2012-13, thus, showing an increase of 9%.

5) Investments

Total investments of the bank as on 31.03.2014 stood at Rs 1637.95 crore out of which
investments in Govt. and Trustees securities were of Rs 871.95 crore as on 31.3.2014 whereas
total investments were of Rs 1637.29 crore as on 31.3.2013.

6) Loans & advances

Bank provides loans to the DCCBs and Govt. employees under various Loan schemes for
meeting out their credit needs. The total loans and advances as on 31-3-14 stood at Rs 7830.73
crore against Rs 7101.07 crore as on 31-3-2013. Thus, there is an increase of 10.27% in loan and
advances in the year 2013-14.

7) Working Capital

The working capital of the bank increased from Rs 8956.46 crore as on 31-3-2013 to Rs 9724.92
crore as on 31-3-2014 which is highest since its inception.

8) Profit

The Bank has earned a gross profit (before tax) of Rs 30.40 crore in the year 2013-14 against Rs
29.28 crore in the year 2012-13.
9) Non Performing Assets:

The NPA’s of the bank have reduced in percentage terms in the year 2013-14 over last
year. The NPA’s of the bank have reduced from 0.80% as on 31.3.2013 to 0.77% as on
31.3.2014. The net NPA of the Bank is nil.

10) Per Branch Business:

Business Per Branch of the Bank has increased from Rs 521.79 crores during 2012-13 to Rs
600.18 crore during 2013-14.
 DIFFERENT TYPES OF DEPOSIT SCHEMES

 Current A/c
 Savings A/c
 SBBY – Insurance Linked Deposit Scheme
 Term Deposit A/c
 Recurring Deposit A/c
 Locker A/c
 CURRENT ACCOUNT

1) Who can open a Current Account

(i) Any person competent to contract and satisfactorily introduced to the Bank may open an
account in his/her own name. He/She may not open more than one such account. Accounts may
be opened in the names of two or more persons and may be made payable to :

(a) any one or more of them.

(b) any one or more of the survivors.

(c) either or anyone or more of them or the survivors jointly, or survivor.

(d) 'former or survivor' or 'latter or survivor', subject to the condition that the second (first in the
case of latter or survivor) named accountholder will be entitled to the balance lying in the
account only on the death of the former (latter in the case of latter or survivor) accountholder.

(ii) Accounts can be opened for sole proprietorship firms, partnership firms, private limited and
public limited companies, Joint Hindu families, trusts, clubs, associates etc. satisfactorily
introduced to the Bank and on fulfilling laid down procedures and tendering required credentials.

(iii) Accounts can be opened by minors of 14 years and above, if able to read and write, in their
sole names.

2) How to open a Current Account

(i) Application to open an account must be made in Bank's prescribed account opening form. All
signatories are required to come in person to the bank to sign the account opening form.
Required credentials depending upon the type of constitution of the prospective accountholder
are to be submitted to the bank.
(ii) Each applicant will be required to sign a declaration to the effect that he has read and
accepted Current Account Rules. A copy of the rules is displayed on the Notice Board.

(iii) A recent passport size photograph of every accountholder, proprietor / partners / Directors of
the company / office-bearers / trustees and other officials authorized to operate upon the account,
is required to be given to the bank.

(iv) The account is to be introduced by an existing current/cash credit accountholder having

minimum six months old satisfactorily & actively conducted KYC Complied account with the
Bank.

SAVINGS ACCOUNT

1) Who can open a Savings Bank Account

(i) Any person competent to contract and satisfactorily introduced to the Bank may open an
account in his/her own name. He/She may not open more than one such account. Accounts may
be opened in the names of two or more persons and may be made payable to:

(a) any one or more of them,

(b) any one or more of the survivors,

(c) either or anyone or more of them or the survivors jointly, or survivor.

(d) 'former or survivor 'or' latter or survivor', subject to the condition that the second/first named
account holder respectively, will be entitled to the balance lying in the account only on the death
of the former/latter account holder.
(ii) A savings bank account may be opened in the single name of a minor and may be operated
upon by minor, if he/she has completed the age of-10-years and is able to read and write.
Maximum balance to the credit of such account should not exceed at any time Rs.1,00,000/-.For
accounts of minors above-14-years,there is no limit to maximum balance.

(iii) A savings bank account may be opened in the name of minor jointly with his/her natural
guardian i.e. father or guardian i.e. mother or both.

(iv) An account can be opened in the name of club, society, provident fund and trust, provided
they are duly constituted and subject to satisfaction of conditions stipulated by Reserve Bank of
India/the bank from, time to time.

(v) As per RBI directive and subject to their prior approval, accounts can be opened in the names
of specified institutions/agencies, if they are registered under the Societies Registration Act or
Companies exempted from using the words 'Ltd. 'or 'Pvt Ltd. 'as part of their names as per the
Companies Act.1956 and those working for socially desirable purposes and serving weaker
sections of the society and those exempted from paying Income tax under Income Tax Act 1961.

(vi) Further, as per RBI directives, Savings Bank account can also be opened in the name of
Government Departments / bodies / agencies in respect of grants / subsidies released for
implementation of various programmes / schemes sponsored by Central / State Government.
Bank should also keep on their record a copy of the authorization issued by the respective
Government departments.

2) How to open a Savings Bank Account

(i) Application to open an account must be made in Bank's prescribed account opening form. It
should be made, in person, in the presence of Bank’s authorized officer and the applicant must
fill in all the columns of the application form. Each applicant will be required to sign a
declaration to the effect that he has read and accepted the Savings Bank Rules.
(ii) Illiterate depositor, unable to write, must attend in person and affix his/her thumb impression
on the account opening form in the presence of an approved witness, who is known both to the
bank and the applicant. Such illiterate depositor should lodge his/her recent photograph with the
bank, duly attested by a person known to the bank. Thus, he/ she need not have his/her thumb
impression attested by a witness every time he/she withdraws money from the account. It will
suffice, if he/she affixes his/her thumb impression in the presence of an officer of the Bank.

(iii) At the discretion of the Bank, illiterate persons are allowed to open accounts jointly with
persons who are literate or illiterate and closely related to them, to be operated upon jointly.

(iv) No cheque book facility will be extended in the single or joint savings bank account of the
illiterate depositors.

(v) Every account holder should submit copies of his/her recent passport size photograph at the
time of opening an account.

(vi) The account is to be introduced by an existing account holder having satisfactorily

conducted account with the Bank. Whenever a deposit account is opened and introduction is
taken from an existing account holder; the following conditions must be fully satisfied:

(a) The account of the introducer should be minimum six months old and

(b) The account of the introducer should have been satisfactorily and actively conducted.

(c) The account of the introducer should be KYC compliant. It means the proposed introducer
has complied with the KYC requirement in respect of the account maintained with the Bank.

Any of the following documents bearing photograph of the holder is also accepted for the
purpose of identification

a) Valid Passport

b) PAN Card
c) Driving Licence

d) Voters ID Card

e) Defence ID Card

f) Identity Card of employees of central/State Govt. & Public Sector Undertakings

g) Senior Citizen’s Card

In the event of withdrawal of introduction by the introducer, the Bank shall be entitled at its sole
discretion to suspend the operation in the account immediately, without prior intimation to the
depositor and it will be in order for the Bank to return / dishonour the cheques, if any, drawn on
account, closing of account, without being liable for the same.

SBBY - Insurance Linked Deposit Scheme

The Punjab State Cooperative Bank has introduced a new Insurance Linked Deposit Scheme for
the benefit of saving bank account holders opening bank account with a minimum balance of Rs
1500/- for risk cover of Rs 1.00 lakh , Rs 3000/- for risk cover of Rs 3 lakhs and Rs 5000/- for
risk cover of Rs 5 lakhs. Under the heading Sehkari Bank Bima Yojna

TERM DEPOSIT ACCOUNT

1) Opening of deposit accounts

Application for fixed/short deposits and deposits at notice is taken on Form No.401 for
individuals and Form No.401A for non individuals.
All time deposit accounts shall be properly introduced. For all subsequent deposit, a simple
Application-cum-Deposit slip is to be filled.

2) Period and minimum amount of different types of deposits

Minimum period:-

At present, the minimum period for a term deposit shall be 7 days for deposit amount ofRs.100/-
lacs and above & minimum 15 days for amounts less than Rs.100/- lacs.

Maximum period : - 120 months

In special cases, say, under the order of a court or where interest of a minor is involved and in the
case of institutions, government undertakings, corporate bodies to meet their special needs like
creation of sinking fund/amortisation fund etc. or for individuals for any of their special needs by
way of accounts opened under special recurring/cumulative deposit scheme, the deposit may be
accepted for periods over 10 years. However, the period of deposit should not exceed 20 years.

Minimum amount:-

The minimum amount accepted for fixed/short deposit is Rs.1,000/- for a period of 15 days and
above and minimum of Rs.100/- lacs and above for a minimum period of 7 days.

3) Operational instructions

Term deposit accounts can be opened with instructions payable to 'Either or Survivor', payable
jointly, payable to any one of the depositors etc. It can also be opened with instructions payable
to "Former or Survivor" or "Former, Survivors Jointly or Last Survivor" or "Latter or Survivor"
in which case operational/ payment instructions at the time of opening the account or
subsequent variations, if any, in these instructions, should be signed by all the joint depositors.

4) Additional documents/forms to be obtained

PAN/GIR number or Form 60 /61. Other documents as per KYC norms.

Photographs of the depositors except in case of existing accounts (having photographs)

5) Nomination facility : Available

RECURRING DEPOSIT ACCOUNT

A Recurring Deposit A/c can be opened with a certain initial deposit wherein a Depositor needs
to deposit money by way of monthly installments over stipulated period. The period may be 12,
24, 36, 48, 60 month etc. On the expiry of the period, the accumulated amount along with
interest is paid in lump sum. All individuals, jointly with others minors, blind/illiterate person
etc. can open the A/c. Rate of interest on Recurring Deposits for various period will be the rate
applicable on term deposit for that period. Minimum monthly installment- Minimum monthly
installment of the A/c is Rs.100/- Maximum period is 10 years. The intending customer should
fill in A/c opening form with complete particulars such as parentage, occupation, address etc.
Two passport size photographs are required to be affixed along with furnishing of residence
proof such as copies of ration card, Voter card, Passport, Telephone/Electricity bill etc. and PAN
or Form No.60. The account is required to be introduce properly by the existing A/c holder of the
bank of any person know to the bank. For the opening of the account in the bank the KYC
submission by the customer is mandatory. On the expiry of the stipulated period, accumulated
amount is paid to the customer
 Locker A/c

Storing too much jewellery and valuables in the house at times becomes a security issue and an
impediment in case of natural calamities.

Bank offers you, a safe, trustworthy space to store your valuables, jewellery, documents and
other things dear to you.

Key Benefits

State-of-the-art Lockers, the safe deposit vaults with fully equipped, latest burglar alarm systems.

For additional safety, the Locker holder assigns a code word which further increases security.

Available in different sizes as per your requirement.

These Lockers and their contents can be nominated to people near and dear to you.
 Deposit Scheme Interest Rates
Interest Rates on Deposit with effect from 04.05.2018

Rate of
S.No Schemes Period from Period upto
interest(Public)

1 Saving Bank A/c - - 4.00%

Saving Bank - No
2 - - 4.00%
frill A/c

3 Term Deposit A/c 7 days 14 days 5.50%

4 Term Deposit A/c 15 Days 30 Days 5.50%

5 Term Deposit A/c 31 Days 45 Days 5.50%

6 Term Deposit A/c 46 days 90 days 6.70%

7 Term Deposit A/c 91 days 150 days 6.75%

8 Term Deposit A/c 151 days 179 days 6.75%

9 Term Deposit A/c 180 days 269 days 6.75%

10 Term Deposit A/c 270 days Less than 1 year 7.00%

11 Term Deposit A/c 1 year 1 year 7.30%

12 Term Deposit A/c More than 1 year Less than 2 years 6.75%

13 Term Deposit A/c 2 years Less than 3 years 6.50%

14 Term Deposit A/c 3 years Less than 5 years 6.50%

Less than 10
15 Term Deposit A/c 5 years 6.50%
years

* The Rate of Interest on domestic term deposit of Senior Citizens will be 0.50% higher on
all maturities as hitherto.
 Service Charges

S. No. Detail of Services Proposed Charges

1 Collection Outstation Cheques Upto Rs. 5000 - Rs 25/-

From Rs 5001/- to Rs 10000/- Rs.50 per
instrument
From Rs10000/- to 1 lac - Rs 100 per
instrument
Above 1 Lac - Rs Rs. 150 per instrument
(all to be inclusive maximum amount
chargeable by banks + service tax as
applicable)

2 Bills Rs. 50/-+ Postal charge

Upto Rs.10000 Rs.6/- per thousand, min 100/- and Max.
Rs.10000 and above 12000/- plus postage.
*No collection charges to be levied for
collection of local cheques/drafts.
However, out of pocket expenses be
recovered in full.
*Collection charges in cases of outstation
cheques/bills should be levied on the gross
amount of instrument.
Further, No charges to be taken from
Senior Citizens/pensioners for collection of
pension upto Rs 10000/-

3 Cheques/Bills returned unpaid Rs 50/- for Outward Clearing Returns,

Local Cheque/Bills Rs 100/- per instrument
In case of Loan Cheques returns in Rs 200/- per instrument
outward Clearing Charges on First Rs 500/- per instrument
Return Rs.100/- plus postage charges
Charges on Secound Return
 Charges on Third Return
Outstation Cheques/Bills

4 Insurance of Demand Drafts/Telegraphic Rs. 20/-

Transfers/Mail= Upto Rs.5000/- Rs. 40/-
>Rs.10000 and upto Rs 10000 Rs. 2.00 per thousand or part thereof and
Above Rs 10000 Minimum Rs.50/- Maximum Rs.10000/-

5 Insurance of Duplicate Drafts Rs.100/-

6 Revalidation/Cancellation Of Draft Rs.50/-

7 Insurance of Banker cheque/Pay order Rs. 50/-

Upto Rs.5000/- Rs.40/-
Rs.5000 and upto Rs.10000 Rs.2.00/- per thousand or part thereof and
Above Rs.10000 Minimum Rs.20/- Maximum Rs.10000/-

8 Insurance of Duplicate Banker's Rs.100/-

cheques/DDs

9 Revalidation/Cancellation Of Pay order Rs.50/-

10 Standing Intructions No Charges for registration

Rs 50/- per transaction will be charged
involving credit to account within the
branch or another branch or State,
remittance charges at the prescribed rate
and actual postage shall be recovered
additionally, charges to be levied on the
account from which the amount is
transferred.
Rs. 10/- for Standing instructions for the
transfer of amount under same Customer
ID within the branch from one account to
another is proposed(for all type of
transactions)

11 Safe Custody Charges Scripts Rs.50/- per annum

12 Stop Payment Instruction For CBS Branches
All types of accounts Rs. 50 per instruction (Upto 2 instruments,
after that Rs. 20 per instrument and Rs 200
for a Continuous series upto 20
instruments)
For NON CBS Branches
Rs. 50/- per instrument

13 Statement of account. Current Account

All types of accounts. One statement for current month FREE.
Rs.50/- for duplicate statement upto one
year old entry
Rs.100/-for statment prior to 1 year
Saving Account
Rs. 50/- for any type of statment , except in
case the statments are required for loan
cases from same branch should be
generated and given after taking written
request.

14 Duplicate Pass Book Rs.50/- within one month entries, but

should be issued on written request only.
Therefore copy of statment is given as per
charges mentioned above.

15 Maintenance of Minimum Balance Rs.50/- per month

Saving Bank Deposits Charges will be debited every month.
The Customer who does not maintain Except for Ex staff members and Senior
minimum balance of Rs.500/- and Citizens.
Rs.1000/- with cheque book facility in
his account, the service charges shall be
levied at the following rates per month

16 Current Account Rs.250/- per month and charges will be

Minimum balance Rs..5000/- debited every month for non-maintenance
If the balance in the account is less than of minimum balance.
the penalty charges than the account be
closed under intimation to the customer
by ordinary post.
 NON- CBS Branches - Min Balance _Rs
2000
Charges - Rs 100 per month

17 Cheque Book charges One cheque book containing 20 leaves free

Saving Bank A/c per half year & Rs..2.50 per leaf for extra
Current A/c cheques.
Rs.20/- per entry for over and above 30
entries per half year
Rs.3.00 per leaf, No free cheque book is to
be issued in Current Account.

18 Charges for excess debit entries in SB For CBS Branches

Account After 30 Mannual Debit Entries per half
year , Rs 5 per entry should be debited by
system,
For Non CBS Branches
Rs.20/- per entry for over andabove 30
entries per half year

19 Payment under CBS Upto - Rs 20000 free of cost

Other than parent branch Above Rs 20000 upto Rs 50000 - Rs 50/-
Cash Payment/Deposit under CBS should be charged by system , only for cash
Other than parent branch transaction.
Max Limit is Rs 50000 and payment above
Rs 20000is to be made done by Cheque
only.
Further There should not be any restriction
of amount in transfers of payments/
banking services other that cah transactions
for inter branch.

20 Locker Rent Rent

Small Locker 700/- p.a.
Medium 1200/- p.a.
Big 2500/- p.a.
Extra Large 4000/- p.a.
No Lien
Note: In case of loss of key of the Lockers ,
 Penalties for Locker Rent in Default actual expenditure incurred for breaking
Small open the locker and changing the lock by
Medium manufacturers of lockers, should be
Large recovered from the account holders.
Extra Large

Penalty charges per Quarter or part thereof:

Rs 100/-
Rs 200/-
Rs 300/-
Rs 500/-
Any default will attract penalty charges for
a full quarter.
The rent should become due w.e.f. 1st of
succeeding month, in which the locker is
leased out. One month may be allowed for
payment of rent due.

21 Cash deposit in Current Account(except Current

Govt./Coop. Institutions) -Upto Rs. 1 Lac - Free
Above Rs 1 Lac - denomination upto Rs
100 - Rs 10 per packet denomination above
Rs 100 -Rs 8 per packet Max Rs 1000/-

22 Account closer before six months Rs.150/- for Saving Accounts

Rs.500/- for Current Accounts
(on account of death of customers no
charges should be levied)

23 Photo attestation charges Rs.50/- for Saving Accounts

Rs.100/- for Current Accounts

24 Signatures verification charges Rs.50/- for Saving Accounts

Rs.100/- for Current Accounts
Free for - Students, Defence forces , War
widows, Physically-Handicap & Signature
attestation for ECS purpose
25 Interest certificate/ Balance certificate First copy- free
Subsequent copy –Rs.50/- per copy

26 Closing of RD A/c before maturity Rs.100/-

Penalty for late payment of RD On account of death of customer no
instalment charges should be levied
PENELTY CHARGES to be levied for
delayed installments in Recurring Deposit
Accounts @ Rs. 2/- for Rs. 100 p.m.
irrsespective of periodicity of deposit
(Minimum Rs 20/-)

27 Bank Gurantee against deposit Rs.500/- +

Upto Rs 500000 - 2% p.a.
Above Rs 500000 - 1% p.a.
Charges to be levied at the time of issuing
of guarantee

28 ECS Clearing Return Rs. 50/- per entry

29 Clearing Cheque Returned Rs. 50/- per inward clearing return

Notes

1. Concession in charges mentioned above in staff category, should be taken only for Salary
accounts (under product 302) of staff where the salary is being credited presently i.e.
except these accounts same charges are to be levied as from other customers.

2. Concessions to Apex Institutions

Milkfed

 The commission on insurance of payment advices will be charged @ Re 1/- per

thousand subject to minimum of Rs 10/- per transfer advice.

 LAR Office has also been allowed free facility for the remittance of the salary of
the employees and therefore drafts for salary will be issued at par.

 The free facility is not applicable in case of DDs/Payorders purchased by the

PSCB from other commercial banks, these charges will be born by the respective
institutions.
  Further, BCs have to be charged as per instructions contained in this circular.

3. The Banker Section, Head Office, and Branches can give Pay orders upto any amount
free of charges in case of Bank's own transactions.

4. These charges will not be applicable to Central Cooperative Banks relating to their own
business.

5. Instructions contained in this circular should be followed strictly; any loss of revenue due
to non-levy of Service Charges will be the responsibility of the Branch Manager.

6. Free remittance facility is given to Rural Development Fund Account for transfer of
funds from SB Account No 0002301000011232 (Old account Number 14410) with BO
17 to other Banks through Pay orders.

7. 2 Drafts /pay orders total upto Rs 1.00 Lacs should be allowed free of cost per Quarter
where :-
In Saving Account the average balance maintainedis more than Rs 1.00 Lacs during
resprective quarter
In Current Account the average balance maintained is more than Rs 2.00 Lacs during
respective quarter.
 CONTENTS
S.No. Particulars
1 History
2 Banking Structure in India
3 Introduction
4 Management
5 Organsiational Structure
6 Awards and Achievements
7 Different types of Deposit Accounts
8 Service Charges
9 Conclusion
10 Bibliography
 Bibliography

BOOKS REFFERED:
Philip Kotler (Eight Edition), “ Marketing Management

T.N Chhabra , Human Resource Management

WEBSITES REFFERED:

www.pscb.in

www.wikipedia.com

www.hdfcbank.com

www.google.co.in