A REPORT ON

THE SANGRUR CENTRAL COOPERATIVE BANK LTD. SANGRUR

BRANCH OFFICE: BHATTIWAL KALAN

As a part of curriculum of the degree

BACHELOR OF COMMERCE [B.COM]

SUBMITTED TO SUBMITTED BY

Dalvir Singh Sonia

Assistant Professor B.COM 3rd semester

ROLL NO.

GURU TEG BAHADUR COLLEGE, BHAWANIGARH

(Affiliated To Punjabi University, Patiala)

 CERTIFICATE

I Certify that this Project “THE SANGRUR CENTRAL COOPERATIVE

BANK LTD. SANGRUR BRANCH OFFICE: BHATTIWAL KALAN”

Submitted to GURU TEG BAHADUR COLLEGE, BHAWANIGARH affiliated

to Punjabi university, Patiala in fulfillment of the award of Bachelor of
Commerce, is a record of in dependent research of and carried out by
Jeevan Kumar under my supervision and guidance.

JEEVAN KUMAR

(Bank Manager)
 DECLARATION

I hereby declare that project report entitled “ THE SANGRUR

CENTRAL COOPERATIVE BANK LTD. SANGRUR BRANCH OFFICE:

BHATTIWAL KALAN” submitted in the partial fulfillment of the

requirement for the degree Bachelor of Commerce (B. Com) to
Guru Teg Bahadur College, Bhawanigarh affiliated to Punjabi
university, Patiala is my original work and has not been
submitted for the award of any other degree, diploma or
fellowship.

SUBMITTED TO

SUBMITTED BY

Sonia

B.COM 3th Sem

ROLL NO.
 PREFACE

Cooperatives have played a vital role in improving the economic

conditions of farmers and accelerating the pace of development in
Punjab. Cooperative principles ensure harmonious development,
through democratic management and governance. Cooperatives
have brought both the services and resources at the doorsteps of
villagers in Punjab. These have been enthusiastically serving the
people of Punjab in areas such as agriculture, housing, sugar
production and dairy etc. The performance of Cooperative
Movement in Punjab, is very impressive. Cooperatives constitute
the major source of institutional credit for agriculture.
Cooperatives are playing a pivotal role in socio-economic
development of the State. These are key instruments of the State
to develop and sustain its rural economy, which is primarily
agrarian. The Department of Cooperation has accelerated
Cooperative movement in Punjab.
 ACKNOWLEDGEMENT

I sincerely record my appreciation to all, while contributing in

preparing this report with suggestion and critical evaluation. I am
extremely thankful to Mr. Jeevan Kumar who zestfully monitored
the growth of this project. From time to time, he guided me in
the right direction and took care that I had enough time to
complete this project. As an amateur in this field, I am indebted
to those who have readily responded to my request for expert
guidance.

Sonia
 Mission

Promotion and sustenance of economic interest & providing easy

finance, cost effective and quality banking services ot customer &
PACs

History

The Punjab State Cooperative Bank was established on 31st

August, 1949 at Shimla vide registration No. 720 has a principle
financing institution of the cooperative movement in Punjab. In
1951 its Head Office was shifted to Jalandhar from where it
moved in 1963 to its present building at Chandigarh. In the
cooperative Banking structure, the position of the Punjab State
Cooperative Bank is extremely important as the whole credit
system revolves around it. It has 19 branches and 3 extension
counter in Chandigarh. There are 20 District Central Cooperative
Banks having 808 branches/extension counters all over Punjab,
mostly in rural areas of the State.
Contents
CHAPTER 1: DEPOSIT ACCOUNTS: GENERAL................................................................................................8
CHAPTER 2: SAVING BANK ACCOUNT........................................................................................................19
CHAPTER 3: WITHDRAWAL........................................................................................................................25
CHAPTER 4: CURRENT ACCOUNTS.............................................................................................................27
CHAPTER 5: JOINT ACCOUNTS...................................................................................................................31
CHAPTER 6: TERM DEPOSITS.....................................................................................................................33
CHAPTER 7: ANNUAL RETURN...................................................................................................................36
CHAPTER 8: RECURRING DEPOSITS...........................................................................................................38
CHAPTER 9: AMOUNT AND PERIOD OF DEPOSIT.......................................................................................41
CHAPTER 10: REMITTANCE OF INSTALMENT.............................................................................................44
CHAPTER 11: PAYMENT OF CHEQUES.......................................................................................................47
CHAPTER 12: SCHEMES..............................................................................................................................52
CHAPTER 13: SETTLEMENT OF DEATH CLAIMS..........................................................................................63
CONCLUSION.............................................................................................................................................69
Bibliography...............................................................................................................................................70
CHAPTER 1: DEPOSIT
ACCOUNTS: GENERAL
 ACCOUNT OPENING FORM

Contract

Opening of an account implies contractual obligations between

banker and customer. Therefore, the account opening form and
other prescribed forms should be checked by the officer
concerned to see that these are correct and complete in all
respect.

Filling in Account Opening Form in the presence of bank official

The first and most important thing in opening of an account is

that account opening form (AOF) must be filled up only in the
bank and that also in the presence of officials of the bank.

Filling in details in Account Opening Form (AOF)

Account opening form shall be filled up either by the customer or

alternatively by the official of the bank. All columns of the AOF
shall be filled up and no column shall be left blank. Struck off the
column which is not applicable. Name. Parentage and address
shall be taken on the AOF. Specimen of signature shall also be
obtained in the requisite column. Any alternation or cutting in the
AOF shall be authentication by the customer(s) with full
signatures. A specimen of AOF is given at Annexure 1.1(a) and
1.1(b).

Special Feature of filling up of AOF

a. AOF shall be filled up in the presence of the official of the bank.

b. Name: Full Name(s) of the person(s) desiring to open the

account shall be obtained. In case of account of firm. company,
institution etc., the nature of the firm etc. shall be obtained in
detail. Bank shall also obtain full names of the persons authorised
to operate upon such account.

c. Occupation: The account holder shall describe his occupation in

detail. Description such as business, service trade or industry will
not serve the purpose. It shall be described as Account Officer in
Prem Chand Industries Ltd. or Prop. of Rama Trading Co. etc.

i. If the account holder is in service all details such as his

designation, home address along with telephone number, if any,
he obtained.

ii. In case of married women, name address and occupation of

the husband may also be obtained.

iii. In case of businessman, nature of his business and residential

address shall be obtained Names of the other banks with whom
he is dealing may also be obtained.

iv. It is most important that all the above information may be

gathered from the customer in a diplomatic way without making
an impression that in inquisitorial inquiries are being made.

d. Address: Address obtained shall be complete i.e., Name, House

No., Floor No., Street No. Village and Post office (VPO) Name of
District, City, Town and Pin code are to be recorded in the AOF to
avoid the benami or fictitious accounts. If the account holder has
telephone either at place of business or residence it shall be
recorded. Branches are advised to obtain any of the following
documents to ascertain the address of the account holders.

1) Permanent Account Number (PAN)

2) Driving License

3) Identity Card issued by Election Commission

4) Identity Card issued by the employer

5) Ration Card
6) Passport by Regional Pass Port Office

7) Copy of the Electricity Bill or Telephone Bill showing residence

address

8) Any other documentary evidence in support of his address

given in the declaration

e. Specimen of Signature of all account holders must be taken in

the presence of not only the bank official but also the introducer.

f. Special instruction with regard to operation and disposal of

account, if any, must be recorded in the account opening form.

g. Whether the account holder would like to avail himself of

nomination facility should be ascertained and indicated in the AOF
Account holder should be advised to avail nomination facility. If it
is declined by account holder, it should be got recorded in
account opening form.

NOMINATION IN RESPECT OF DEPOSIT ACCOUNTS

Under the Banking Laws (Amendment) Act of 1983 and as per the
Cooperative Banks (Nomination) Rules, 1985 which have come
into force since 29.3.1985, nomination facilities to banks'
customers are available in respect of all types of deposit
accounts.

 Nomination facility available for all types of deposit accounts

Nomination facility is available for current, saving and all
types of term deposit accounts.
 Nomination can be given to a single person only: A depositor
or depositors jointly can nominate one person only.
 Nomination form DA-1

a) Nomination is to be made by depositor or all the depositors

together as the case may be in Form DA-1 only. All the depositors
have to sign on DA-1 form. The specimen of DA-1 form is
attached as Annexure 1.7. However. DA-1 form is printed on
Account Opening Form.
b) The nomination made by the depositor should be entered in
the Nomination Register' as explained in para 1.7.12.

Nomination can be made only in respect of accounts held in

individual capacity

Nomination can be made only in respect of accounts held in

individual capacity. Accounts held in representative capacities like
secretary of an association/society, trustee of a trust or Karta of
HIF, cannot make nomination of such accounts.

Nomination facility not available for sole proprietorship account

Even though sole proprietorship accounts are treated for all

practical purposes as an individual account, nomination facility is
not extended to these accounts. Hence branches should not
obtain nomination from the sole proprietorship account holders.

PASS BOOK

The pass book is a small handy book issued by a hanker to his

customer to record all dealings between them. In fact, it is an
authenticated copy of the customer's account in the account
books of the bank. The purpose of issuing a pass book to the
customer is to acquaint him periodically with the state of affairs
of his account with the bank. The pass book also contains rules
and regulations governing the saving account.

Issuing of pass books and periodical statements

For all operative accounts i.e., Saving Bank/Current

Account/Recurring Deposits accounts. pass book is issued for the
use of the account holder. At the time of opening the account, a
pass book should be prepared by the ledger keeper. The name,
occupation, address of the account holder and the account
number allotted to the account with the type of account() or S,
etc.) should be boldly written in the space provided, which should
be checked and signed by the officer. The branch should get an
acknowledgment from the party for loving received the pass
book, in a pass book issue register maintained for that purpose.
In respect of current account if the customer desires, instead of
issuing pass hook, periodical statement of account (weekly,
fortnightly or monthly as desired by the customer) may be
furnished.

Procedures for making entries in the pass books

The customers should be advised to present the pass books for

updating at frequent intervals. e.g., for saving accounts at least
once in a fortnight. Before entering in the pass book the ledger
keeper should verify that he is coping the particulars of correct
account. Entries in pass book should contain sufficient particulars
Pass book should be written in a neat and legible manner and
cuttings and overwriting should be avoided. The Credits/Debits in
each page should be totalled and such totals should be carried
over to the next page. No entry in a pass book should be initialled
by an officer unless he has satisfied himself that all previous
entries have been entered in the pass book and that the balance
of the account in the pass book agrees with the balance in the
ledger account.

Issue of continuation passbook

When the original pass book is fully used up, a continuation

passbook should be issued to the account holder. The account
number and all other details should be written in the continuation
passbook. The fact that a continuation pass book has been issued
should be written boldly on the ledger folio also.

MINOR'S ACCOUNT

Generally speaking, minor is a person who has not attained the

age of 18 years. But if guardian is appointed by a court, before
he attains age of 18, he continues to be minor till he 21 years.
Minor account can be operated upon only by the guardian of the
minor because the minor has no power to contract under the
Indian Contract Act.
Guardian of the minor

a) Natural Guardian

i) Natural guardian of Hindu child under Hindu Majority and

Guardianship Act 196 as under:

1) Father during his lifetime is a natural guardian. RBI has

permitted mothers a natural guardian. See para 2.6.2

2) In the case of death of the father, mother is a natural

guardian.

3) In case of minor married girl. husband, if major, is a guardian.

ii) In case of Parsis and Christians:

1) Father is a natural guardian.

2) After the death of father, mother is a guardian.

iji) In case of Muslim child under Mohammedan Law. father is the

guardian of minor

After the death of father, following persons are entitled, in order

mentioned below to be guardian of minor.

1) the executor appointed by father's will.\

2) the father's father.

3) the executor appointed by will of father's father.

It must be noted that in no event can the mother act a natural

guardian of Mohammedan child.

b) Guardian appointed by court

 In the absence of any guardian as explained above guardian will
be appointed by court.

RBI guidelines a) RBI has permitted the mother to operate upon

the account of the minor even when the father is alive.

b) RBI has allowed that minor of the age of 12 years and above
can operate their account themselves provided they are literate
and can sign the documents.

c) Overdraft or loan against deposit accounts should never be

allowed to minor's.

Date of birth of minor

a) Date of Birth of minor should be as disclosed by the guardian.

No proof should be insisted upon.

b) Date of Birth shall be recorded in account opening form as well

as in the ledger.

Minor's account to be operated in representative form and on

behalf of the minor with the following certificate:

"Amount sought to be withdrawn is for the use and benefit of the

minor who is alive this day."

Operation of account at the time of majority

When the minor attains the age of majority, he only should be

allowed to operate upon the account himself. Specimen signature
of the minor should be verified by the guardian who was
operating the account. In case of death of minor's guardian after
the minor attains majority but before he is allowed to operate
upon the account, specimen signature should be attested and
verified by a respectable member of family or society. A fresh set
of application should be obtained and kept along with original
application. A notice may be served to the guardian advising the
ceasation of his operation of account on attainment of majority of
the minor. (Annexure 2.2).

Cheque book to minor

No cheque book should be issued to minor. He has to come in

person in the bank for withdrawals.

Opening of minor's account in ledge

An account in the name of minor should be opened in the ledger

in the following form:

Baljit Singh (Minor) Baljinder Singh Sh. Kartara Singh

(Minor)
by father as guardian Baldev Singh (Minor)
by guardian
Sh. Kesar Singh appointed by court by himself

The date of birth of minor should also be recorded in the ledger.

ILLITERATE PERSON

While opening account of illiterate person following procedure is

the opted

Explain rules

All rules of operation and maintenance of account should be

explained to the person in the Janguage he understands

Cheque book
The literate customer should be advised to come to the bank
personally to operate upon the account and cheque book should
not be issued to such person in any case

Thumb impression

Left hand thumb impression for male and right-hand thumb

impression for female should be chained on the account opening
form in the presence of officer of the bank. The manner of asking
impression, should, however, such as not to amudge the line in
the impression and the impression should be up to the ridge and
the thumb should not he rolled.

Photograph

Two copies of the passport size photograph should be obtained.

One copy should be pasted the pass book and other copy on the
account opening form. These photos should be attested in such a
way that half the signature of the attesting person is on the photo
and half on the passbook specimen cand, so that these photos
cannot be changed subsequently

Mode of payment

Payment to illiterate person should always be made on the

withdrawal form. It is preferred that withdrawal form of illiterate
person should be filled in by ledger clerk and passing officer must
the oral confirmation from the customer regarding the amount
before passing such

Payment

Mark on ledger and AOP

As shall be marked as illiterate account both on the ledger as well
as account opening

the account of illiterate person with literate Opening of count of

illiterate person with literate person should only be allowed with
joint operation
CHAPTER 2: SAVING BANK ACCOUNT
INTRODUCTION

Saving Bank accounts, as the very name suggests, are intended

for saving for the future. This is the most common type of
account which caters to the needs of vast section of people in the
society. These accounts promote savings habit of people.
Balances in this type of account earn interest by the depositor.
This account is a form of demand deposit account. The term
"saving bank accounts" referred to in this chapter includes both
the categories of savings accounts, viz... savings accounts with
cheque book facility and savings accounts without cheque book
facility. Instructions in this chapter are equally applicable to both
these categories of savings accounts unless the context indicates
to the contrary.

WHO CAN OPEN SAVING BANK ACCOUNT

Individuals Saving bank account can be opened by the followings

i. Single person in his own name.

ii. Two or more person's in their joint names to be operated in the

following manner.

a. Either or Survivor.

b. Jointly/Jointly or Survivor

c. Any one or Survivors or Survivor

d. Former or survivor

(For detail instructions for dealing with these accounts, please

refer to Chapter 2 'Opening and operation of deposit account.)
Minor account

Minor accounts in the bank can be opened and operated in two

ways i.e., either operated by minor himself/herself or operated by
the guardian of minor.

Operations by minor himself

RBI has permitted that a minor who is above the age of 12 and
who can understand the operations of the account and is literate
(school going) can open and operate saving bank account in
his/her own name. Such account can also be opened by two
minors jointly with joint operations only. No overdraft is allowed
in this account.

Minor account operated by guardian

Bank can also open a saving bank account in the name of minor
by his guardian either jointly with the minor or singly to be
operated upon by the guardian. Guardian can either be a natural
guardian or as appointed by the competent court. For further
details on opening and operation of deposit account of minor
please refer to Chapter 2 'Opening and operation of deposit
account' under heading "Minor accounts".

Opening of account in the name of illiterate/blind persons

Illiterate and blind persons are permitted to open saving bank

account. For details on opening of account in the name of
Illiterate/Blind person please see Chapter 2 'Opening and
operation of deposit account heading "Illiterate and Blind
persons".
Opening of account in name of Club, Societies, Association

Club, societies, association, schools, colleges, religious and other

charitable institution are permitted to open saving bank account
with the bank subject to eligibilities as per instructions of RBI
issued from time to time. For further detail to open such account,
please refer to Chapter 2, Opening and operation of deposit
account.

Opening of account in the name of H.U.F. Executor/Administrator

Etc. HUF. Executor, Administrator, Joint Stock Companies can
open saving bank account for special purpose only but for not
conducting their usual business with the prior permission of head
office. Payment of interest is subject to the directions of RBI
issued from time to time. For detail instruction please refer to
Chapter 2 'Opening and operation of deposit account.

Institutions which are eligible to open saving bank account

In terms of RBI directive, saving bank accounts opened in the

name of any trading or business concern, whether such concern
is a proprietary or a partnership firm, a company or an
association, would not be eligible for any interest. The RBI,
however, has exempted certain agencies/institutions from this
prohibition on account of their activities aiming towards service of
the weaker sections of society. Accordingly, the following
institutions organizations are eligible for earning interest on their
savings bank accounts on the usual terms

Primary Cooperative Credit Societies.

Small Farmer Development Agency (SEDA)

iii. Marginal Farmer and Agri-Labor Agency (MFAL)

iv. Drought Prone Area Programme (DPAP)

v. Agricultural Produce Market Committee

vi. District Rural Development Agency (DRDA)

vii. Fish Farmer Development Agency (FFDA)

viii. District Development Authority (DDA) ix. Integrated Rural

Development Programme (RDP)

x. Integrated Tribal Development Agency (TDA)

xi. Khadi and Village Industries Board (KVIB)

xii. Societies registered under the Societies Registration Act 1860

or any other corresponding law in force in a state or a Union
Territory

xiii. institution other than those listed below under head

"Institutions which are not eligible to saving bank account" and
whose entire income is exempted from payment of Income Tax
under the Income Tax Act 1961.

xiv. Companies under Companies Act 1956, which have been

licensed by Central Government under Section 25 of the said Act,
or under the corresponding provisions in the Indian Companies
Act, 1913 and permitted not to add to their names word "Limited"
or "Private Limited"

xv. Any other institution permitted by the RII from time to time.
CHAPTER 3: WITHDRAWAL
WITHDRAWAL

Withdrawals through specific form of the bank Withdrawals from

the saving bank account are permitted only by cheque/withdrawal
form provided by the bank. Bank rules provide that total number
of withdrawals from the account shall not exceed 60 per half
year. If the number of withdrawal exceeds to this number, it is
not that account holder should not be allowed to withdraw, but
service charges as decided by the bank, should be charged to the
account when payment of interest is made to the account half
yearly. The service charges so collected shall be credited to
commission charges. Payment both by withdrawal form and
cheque count for the number of withdrawals.

Posting and passing of withdrawal form/cheque

The withdrawal form/cheque is posted into the personal ledger by

the ledger keeper/clerk and is passed for payment by the passing
officer. For details of posting in the ledger and passing by
supervisory officer please refer to Chapter 10 "Payment of
Cheque"
CHAPTER 4: CURRENT ACCOUNTS
INTRODUCTORY

Current account is a running account which may be operated

upon any number of times during a working day. It caters to the
needs of business people who make use of the cheque facilities
extensively and also receive cheques in their favour. However,
there is no restriction that only a business people can open the
current accounts

WHO CAN OPEN CURRENT ACCOUNT? Person in his own name

i) Two or more persons in their joint names with operations as

Either-or Survivor. Jointly/Jointly or Survivor, Anyone or
Survivors or Survivor.

ii) Cooperative Societies, Proprietary concern. Partnership firms,

Limited Companies. Joint Stock Companies, Clubs, Religious
institutions. Associations, Provident funds societies. Executors
and Administrators, Govt. Semi government departments. Local
Bodies.

Note: Instruction given at the time of opening of joint account will

strictly be followed up in operation of account. However, these
instructions can be altered varied by all the account holder at any
time during the operation of the account.

WHO CANNOT OPEN CURRENT ACCOUNT?

Minor
Current Account should not be permitted in the name of minor in
general. But account opened in name of minor to be operated
upon by natural guardian/guardian appointed by court may be
allowed by the bank. But under no circumstances, over draft shall
be allowed in such cases.

Pardanashin Ladies

Pardanashin lady is a woman who observe parda and keeps

secluded from the general public as per the custom of their
community. As the parda woman remains secluded is very 64.12
Statement of Account/Pass Book

A statement of account passbook should be issued to the account

holder periodically. If the account holder desires to get it earlier,
it must be issued Computerized branches may hue the statement
on last day of the month. Where passbook is issued it must be
completed whenever it is presented in the bank.

Frequency of statements

Where transactions in the account are large, frequency of the

statement to be sent may be fortnightly weekly as is convenient
Preparation of statement of Account/Pass Book

Statement of account/passbook is the true copy of the account as

maintained in the personal ledger of the bank. In case passbook
is issued, all debit and credit entries as well as balance should be
legibly written in pass book. All details such as cheque should
also be mentioned, however payee of the cheque need not be
mentioned. Statement of account/pass book prepared by the
ledger keeper must be tallied by the passing officer and he should
sign it also. If the account is overdrawn, debit balance in the
account must be shown in red ink Summations debit/credit
entries shall be made on the statement of account and balance
must be tallied before it is issued to the customer.

Duplicate Pass Book

Request for issue of duplicate pass book/statement of account

must be considered as explained under the head "Issue of
Duplicate Pass Book" in Chapter 3-para 3.14.
CHAPTER 5: JOINT ACCOUNTS
JOINT ACCOUNTS

Meaning

Account opened in the name of two or more individuals are

known as joint accounts.

Account opening form

For opening current account in the name of two or more persons,

account opening form meant for individual should be obtained
duly filled in and signed by all the joint account holders. The
specimen signature of all the joint account holders should be
obtained on specimen signature card.
CHAPTER 6: TERM DEPOSITS
INTRODUCTORY

ACCOUNT HOLDERS

Who are eligible to open term deposits All persons discussed in

the Chapter 2 are eligible to open term deposit account with the
bank

Special points to be observed while opening and conducting of

term deposits Special points to be observed while opening and
conducting term deposits for the account holders are detailed
below:

Minor

Single name of minor

Minors alone of the age of 12 years and above can open term
deposits in their own name to he operated by them. Discharge
given by the minor to the bank on the repayment of deposit to
him is a valid discharge. Even repayment of this deposit before
the due date can be made. if the discharge of the minor is
properly obtained.

In the single name of minor represented by guardian Term

deposit in the name of minor to be operated by guardian can be
opened. If the payment of maturity amount is made to the
guardian, it will be payment in due course. But proper
undertaking that the proceeds will be used for the benefit of the
minor must be obtained while making payment to the guardian.
He is to receive payment for the use and benefit of the minor,
such payments made by the bank to the guardian of minor
cannot be challenged by the minor neither during his minority nor
after attaining majority for not being utilized for his benefit.

b) Joint account with clause either or survivor/anyone or

survivor(s)

In case the term deposit is either or survivor/anyone or survivor

of survivors, loan/foreclosure is entertained when all the joint
account holder applies for it. In the event of death of one of the
account holder, request shall come from all the surviving joint
account holder(s) along with their legal heirs of the deceased. In
order to remove such disability on the part of surviving joint
account holder(s), the following enabling clause shall be included
in the account opening form itself.

"We agree that the clause repayable to either or survivor/anyone

or survivors includes the right to the survivor(s) to apply before
the date of maturity for repayment or for credit facilities against
the security of the deposit."

If the either-or survivor deposit account is to be renewed,

renewal can be made only if all the depositors agree in writing.
However, the branches may face practical difficulties in obtaining
signatures from all the joint deposit holders for renewals.
CHAPTER 7: ANNUAL RETURN
ANNUAL RETURN (RULES 37, 37AA)

An annual return of tax deducted at source from interest is to be

submitted by the branches to the Assessing Officer under whose
jurisdiction the branch/office is situated. The return will be
subject to scrutiny by the Income Tax Department. They may call
for the necessary details/books for this purpose. The following
forms for filing annual returns are to be used:

Particulars Form No. Annual

Return
(Specimen
enclosed) Latest by

1. Annual Return 26A 30th June

(Where tax is deducted)
(Annexure
7.15)

2. Where interest is paid 27A 30th April

without deduction of tax at
source after obtaining (Annexure
declaration in Form 7.16)
15H/15AA

The above annual returns are to be furnished directly by the

branches (i.e., they need not send the same to H.O. for onward
transmission to Income Tax Office) to the concerned Income Tax
Office within the time stipulated above.
CHAPTER 8: RECURRING DEPOSITS
INTRODUCTORY

Recurring Deposit, commonly known as RD, is a unique term-

deposit that is offered by Indian Banks. It is an investment tool
which allows people to make regular deposits and earn decent
returns on the investment.  Due to the regular deposit factor and
an interest component, it often provides flexibility and ease of
investments to users/individuals.

However, it is essential to know that RDs are different from Fixed

Deposits/FDs. RDs are flexible in most aspects. An RD account
holder can choose to invest a fixed amount each month while
earning decent interest on the amount. RDs are an ideal saving-
cum-investment instrument.

Most major banks in India offer Recurring Deposit Accounts, with

a term that often ranges between 6 months  to 10 years, also
providing individuals with the opportunity to choose a term
according to their needs. However, the interest rate, once
determined, does not change during the tenure; and on maturity,
the individual will be paid a lumpsum amount which includes the
regular investments as well as the interest earned.

Features of a Recurring Deposit Account

Recurring Deposit schemes aim at inculcating a regular habit of

saving in people

The minimum amount for deposits often varies from one bank to
another. You could invest with an amount as small as Rs. 1000.

The minimum period of deposit is six months, while the maximum

period of a deposit is 10 years

The rate of interest is equivalent to that offered for a Fixed

Deposit. Therefore, the interest rates are higher than Savings
Account.
Premature withdrawals are However, depending on the bank,
they may allow you to close your account before the maturity
period on certain conditions.

A Recurring Deposit can be funded periodically through Standing

Instructions that are usually instructions given by the customer to
the bank, to credit the RD account every month from his/her
Savings or Current Account.
CHAPTER 9: AMOUNT AND PERIOD OF
DEPOSIT
9.4 AMOUNT AND PERIOD OF DEPOSIT

Amount of deposit

A recurring deposit is accepted with a minimum monthly

installment of Rs 100- and in multiples of Rs. 10/- thereafter.

Period of deposit the minimum period of recurring deposit is 6

months and maximum period is 120 months with multiples of 3
months.

Maturity value

The maturity value (i.e., the amount payable at the end of the
period of deposit, comprising the principal and interest accrued
thereon) can be calculated from the Interest Charts supplied to
the branches (Annexure 9.1).

OPENING OF RECURRING DEPOSIT ACCOUNT

Account opening form

Account opening form available with the branches for this

purposes should be used for opening the account. See Annexure
1.1 (a) and (b). All particulars such as name, parentage address,
occupation, amount of monthly installment, period of deposits, as
the case may be should be properly filled up in the columns
provided for. Please refer to para 1.1 of Chapter 1 for detail

Introduction of account Introduction is required in recurring

deposit account. For detail, please refer to para 1.2 in Chapter 1.

Photograph

Photograph is obtained in recurring deposit account in certain

cases. For detail, please refer to para 1.3 in Chapter 1.
Opening account in personal ledger

When the account opening form is complete in all respect and

proper introduction of the account is obtained as well as the 1st
installment is deposited by the depositor, the ledger keeper
should open the account in the account opening register (see
para 3.1) and allot account number to the customer. Once the
account number is allotted, he should open the account in the
personal ledger (Annexure 9.2) of the customer. All particular
i.e., Name Parentage, Address, Amount of Installment, Period of
Deposits, Maturity value and rate of interest should be noted on
the ledger folio. For other details please refer to Chapter
"Maintenance of Deposit Accounts".
CHAPTER 10: REMITTANCE OF
INSTALMENT
REMITTANCE OF INSTALMENT

Date of instalment

Instalments are to be deposited every month on or before the

last working day of each month to which it relates. Instalment
deposited in the calendar month to which it relates is treated as
instalment paid in time. Suppose a recurring deposit account is
opened on the 1st January. The next instalment is due in the
month of February of that year. If it is deposited even up to 28
February, it is taken as paid in time. Thus, instalment when paid
on any date from 1st of day of that month till last day of the
month deemed as instalment deposited in time.

Mode of remittance of instalment

Instalment can be paid in cash, by cheque or by giving standing

instructions to the Bank to transfer the monthly installments from
the depositor's Saving Bank or Current Account or from the
interest earned on Fixed Deposit. The depositor may issue
instruction to the bank to transfer the monthly instalment out of
his account. In such case it will be the duty of the bank to
transfer the amount on due date. The customer would not be held
liable for any fault for delay in transferring of money on the part
of the Bank. However, if the customer does not maintain
sufficient balance on due date, then he/she is liable for penalty.

Remittance by cheque
Cheques drawn in favor of the depositor may also be accepted for
credit to his/her recurring deposit account, but the credit to the
account should be given only after realization.
CHAPTER 11: PAYMENT OF CHEQUES
INTRODUCTION
Obligation of bank to honor cheques While opening an account of
the customer, the banker takes a statutory obligation on itself to
honor the cheques drawn by the customer on his account. The
cheque issued by the customer on its banker is a written order to
the bank to pay the amount from his account as per instructions
of the cheque.

Scrutinize the cheque presented for payment Before making the

payment of the cheque the banker must scrutinize the cheque
properly. This chapter deals with the points to be observed while
scrutinizing the instruments/cheques.

FORM OF CHEQUE

Cheque must be drawn on the printed forms only supplied by the

bank. The bank has right to refuse the payment of cheques drawn
otherwise. In case of saving bank account withdrawal form is also
used to withdraw money from the account. In some exceptional
cases the bank may consider the request of the customer in
written form too.

Refusal of cheques containing extraneous matter

Cheque should not contain any extraneous matter like 'towards

premium on policy etc. The branches should refuse the payment
of such cheques,

Writing of cheque

1) Cheque should be written with non-delible ink. Ball point pen

can also be used for writing of cheque. But customer may be
discouraged to issue typed cheque as these cheque are more
prone to alteration.

a) Cheque e can be written in two different languages. Such

cheque can be paid provided it is in order otherwise.

BRANCH DRAWN ON CHEQUE

Cheque can be presented for payment only on the branch where

the customer is maintaining the account. Only the branch which
is maintaining account of the customer can make payment of the
cheque. So, it should ensure that it is drawn on our branch

DATE OF CHEQUE

Date

Date of the cheque is a material part of it. An undated cheque

should not be paid as it does contain complete order of the
drawer. A cheque presented for payment should not only be
dated but must bear the proper date. For this purpose, following
point should be consider

a) Date of presentation: The cheque presented for payment may

bear the date of presentation or a date prior to the date of
presentation or a future date. The bank can safely pay the
cheque which bear the date of presentation or a date prior to
presentation but not prior to six months. Cheques bearing
featured date will not be honoured

b) Postdated cheque
A cheque which bears the date which is subsequent to the date of
presentation is a post-dated cheque. For example, a cheque
bearing date 21.11.2000 is called post dated cheque if it is
presented for payment on 11.11.2000. Such cheque should not
be paid before the date is bears. The order of the drawer is to
pay the amount of the cheque on the date of cheque. So, any
payment made by the bank before the date of the cheque is not
authorised by the customer and bank cannot debit the account
before that date.

c) Stale or antedated cheque

Antedated is the cheque which bears the date which is prior to

date of presentation. If a cheque bears the date which is six
months prior to the date of presentation, is called stale or out of
date cheque. The banks do not make payment of cheque which
are stale or out of date le cheque which is presented for payment
after more than six month from the date of issue of the cheque. A
cheque dated 1.1.2000 cannot be paid after 1.7.2000. So, bank
should refuse payment of such cheque which is having date more
than six months prior to the date of presentation. However, such
cheques can be paid after revalidated by the drawer under his
signature as in the record of the bank.

PAYEE

Writing of payee's name

The name of the payee should be clearly and unambiguously

written in the cheque

Payment of cheque to the joint payees/any one of the payees A

cheques drawn in favour of two or more persons (i.e., Shamash
Chand and S6, Gian Chand) should be paid to them jointly.
Where the cheque is in favour of alternative payees (i.e.,
Shamash Chand or Sh. Gian Chand) payment can be made to
either anyone of them.
Fictitious name

If an order cheque is made payable to a fictitious person i.e.,

Lord Krishna, or Lord Rama, it may be treated as payable to
drawer. Such cheques should be paid to the drawer only when
they are discharged by the drawer himself.

Payment of cheques in favour of limited companies/trust account

etc. No cheque drawn in favour of companies, trust, school,
colleges etc. should be paid to the third party because it is the
usual practice to credit the cheque to their account.

Specific payee

A cheque drawn 'pay to A only shall be paid to A only. The word

only restricts the negotiability and transferability of the cheque.
So, the bank should pay such cheque to the payee only.

AMOUNT OF CHEQUE

Amount written in words and figure differs Amount of the cheque

has very great significance. Amount of cheque is written both in
figures and words. Both the amount expressed in words and
figure must tally otherwise the bank will refuse the payment of
the cheque. Section 18 of Negotiable Instrument Act, 1881 states
that if there is a discrepancy in the amount expressed in words
and figures, the amount expressed in words should be taken as
amount ordered to be paid.
CHAPTER 12: SCHEMES
Special Settlement Scheme-2006

Objectives: -

 Opportunity to the borrower defaulters in ST Agri. loans and

RCC loans.
 Opportunity to the borrower defaulters for more than five
years to clear.
 Opportunity to clear Non-Performing Assets (NPA).
 Reduction in cost and time for recovery.
 Interest up to principal amount is to be reversed.
 To encourage and assist genuine defaulters.
 To facilitate mutually accepted reconciliation and settlement
of dormant loan accounts.
 To provide Buy Back facility for decreed property.
 Members/Ex-employees involved in embezzlements.
 Members whose land has been purchased.
 Short term loans converted into medium term loan due to
natural calamities.

Duration & Eligibility: -

Duration: The Special Settlement Scheme is valid from up to 30-

06-08.

Eligibility: All overdue cases for more than five years in case of
CCBS/PACS and six years in case of PADBS as on 31.01.2000
even if arbitration, awards have been obtained and execution of
proceedings have been initiated.

Operational Guidelines: -

Preparation and submission of list of eligible borrowers to block

and District Level Review Committees.

Eligible borrowers or legal heirs (in case of death) can apply on

prescribed form for the scheme.
After review block level, Default Review Committees (BLRC)
recommends to district Level Default Review Committee
(DLRC)

After hearing the applicant DLRC recommends the case.

DLRC recommends to Provisional Authority (RA) and copy to

applicant.

BLRC would meet on every 1st and 3rd Tuesday whereas DLRC
would meet on 2nd and 4th Monday.

RA after considering the recommendations of DLRC and facts,

pass specific order of settlement amount and amount to be
written off.

RA should seek a proof of payment of settlement amount before

passing final order.

CCB/PSCB would debit the difference amount as per RA's order

without further sanctions from RCS and also liquidate outstanding
amount from records.

The above procedure shall be followed for buy back facility of land
purchased by the PACS/CCBS/PADBS, no relief of interest to
the farmers under buy back facility.

The above procedure shall be followed for embezzlement cases

even after taking legal measures for cases older than six
years.

Relief: -

DLRC, on merits, decide about the charging of simple interest

from date of account turned bad, provided that:

Amount reclaimed shall not be less than the principal amount plus
100% thereof.

Amount received is principal amount plus 50% where the

borrower has no asset or source of income.
In case of buy back facility, the original owner shall pay the total
outstanding amount.

Any other action initiated earlier under IPC shall continue

unabated, also the proceedings under the scheme shall not be
prejudiced to on longing legal proceedings.

The amount of net loss to PACs/CCBs/PADBs shall be charged to

reserve for Bad Doubtful Debts available with CCBs PADBs.
There are no such reserves with PACs.

Revolving Cash Credit

In 1998, the cooperative banks launched a new scheme of

revolving cash credit for the farmers. The scheme envisages to
provide Cash credit limit to the farmers against the mortgage of
their land for all credit requirements of the farmers. It aims at
freeing them from the clutches of traditional money lenders. A
cash credit limit of Rs. 1.00 lac per acre subject to the maximum
of Rs. 6.00 lac is provided to the farmers for fulfilling their socio-
economic liabilities. So far, Limits worth Rs 2192.03 crore has
been sanctioned to 152207 farmers in the state since inception of
the scheme.

Key Observations Made by Experts: -

The Revolving cash credit scheme has proved beneficial to the

farmers its contribution has been multi directional. It has
helped the farmers in the purchase of production inputs, farm
investments, consumptions and social requirements and reduced
their dependence on high interest loans.

The recovery under the scheme has been excellent and more
than 70% of the credit availed under the scheme has been
spent for productive purposes, whereas remaining was provided
for socio-economic needs.

Nabard is providing refinance facility for the scheme.

The scheme has covered medium, large farmers small and
marginal farmers as well.

The rate of interest on credit facility under the scheme is also

low.

Revolving cash credit has supplemented inadequate availability of

production credits besides creating provisions for consumption
credit. Therefore, its role is complementary to the institutions
credit available to farmers from different sources.

Sehkari Bima Yojna

The Cooperative Banks in Punjab are pioneers of starting the

Sehkari Bima Yojna w.e.f. 01.06.1999 in the country. Under this
scheme, every depositor who opens a Saving Bank Account with
Rs.1000/- or more is provided Personal Accidental Insurance
cover for Rs. 1 lakh, during the period he keep s the account with
the bank, at a very nominal premium. The scheme has benefited
the under privileged rural masses, particularly those who have no
access to the insurance companies.

Kisan Credit Card Scheme

A new scheme namely ‘Kisan Credit Card Scheme’ has been

implemented by the bank for the benefit of farmers. The Scheme
improves upon existing scheme of Crop Loans by allowing the
farmers flexibility and freedom of choice to avail and repay loans
as per their requirements. Under the scheme, Total Limits worth
Rs. 6116.28 crore have been sanctioned to 900230 KCC holders
in the state.

1) Non-Farm Sector Loan

With a view to diversify and benefit the small industrialists &

businessman, the cooperative bank has started non-farm sector
loan depending upon the requirements of the projects. These
loans are given to the rural youth for self-employment. The
Central Cooperative Banks have advanced Rs.4950.81 lacs from
1-4-2007 to 31-3-2008 to 8013 beneficiaries. During 2008-09,
Rs. 4232.21 Lacs have been disbursed under this scheme. During
2009-10 (up to Aug), a sum of Rs. 15.17 crore have been
advanced.

2) Cash Credit to Traders & Businessmen

With a view to provide the cash credit facility to traders and

others for meeting the working capital requirements of the
business, a cash credit limit up to Rs.25.00 Lacs can be
sanctioned to small businessman and traders depending upon
their business turnover on easy terms at a normal rate of
interest. During the year 2007-08, the central cooperative banks
have sanctioned Rs.29091.28 lacs under the scheme up to March
2009, limits worth Rs. 30649.64 lacs have been sanctioned under
this scheme since inception. During 2009-10 (up to Aug), total
limits worth Rs 314.35 crore have been sanctions.

3) Personal Loan

A specially designed personal loan scheme has been framed

which aims at providing credit facility for meeting out social
needs of employees, such as children education, furnishing home,
buying a computer, sons/ daughter marriage, holiday tour with
family or any other basic requirement without giving any purpose
for the loan. Under the scheme, every govt / semi govt
employees is provided loan up to Rs.2.00 Lac repayable in 5
years in easy monthly installment. During the year 2007-08, the
Central Coop.Banks have advanced Rs.12164.46 Lacs under the
scheme. During 2008-09, Rs.13389.00 Lac have been disbursed
in the state. During 2009-10 (up to Aug), a sum of Rs. 4643.05
lac have been advanced.

4) Consumer Durable Loan

With a view to provide credit facility to their customers, the
cooperative banks have introduced a scheme of loan for purchase
of consumer durable. Under the scheme, every employee is
provided loan up to Rs.1.00 lac and non-salary person is provided
loan up to Rs. 1,00,000 repayable in 5 years in easy monthly
installments. The loan can be utilized for purchase of T.V.,
refrigerator, scooter, furniture etc. A significant section of the
salary class has benefited from the scheme. During the year
2007-08, the Central Coop. Banks have advanced Rs.7695.31
lacs under the scheme. During 2008-09, Rs. 7150.00 Lacs have
been disbursed under this scheme. During 2009-10 (up to Aug),
a sum of Rs. 27.93 crore have been advanced.

5) Urban Housing Loan Scheme

With a view to provide the housing loan to individual and

members of house building society the Bank can advance a loan
up to Rs.25.00 Lacs for the purchase of plot, purchase of built-up
house, construction of house, repair, addition, alteration etc. in
the existing house. Loan shall also be given for acquiring a plot,
flat, house in an existing cooperative house building society and
approved scheme of PUDA, HOUSEFED, Improvement Trust or
any other govt. agency. During the year 2007-08, the Central
Coop.Banks have advanced Rs.3961.62 Lacs under the scheme.
During 2008-09, Rs. 3674.63 Lacs have been disbursed under
this scheme. During 2009-10 (up to Aug), a sum of Rs. 1347.76
lac have been advanced.

6) Rural Housing Loan Scheme

With a view to provide housing facility to the masses which is a

basic need of human need the Central Coop. Banks has designed
a scheme particularly for rural people, where other financial
institutions are reluctant to advance. Under the scheme,
maximum loan up to Rs.15.00 Lacs can be advanced for purchase
of built-up house, construction of a new house or repair/
renovation / addition/ alteration of existing house in rural areas.
During the year 2007-08, the Central Coop. Banks have advanced
Rs.5959.08 Lacs under the scheme. During 2008-09, Rs. 5157.48
lac have been disbursed under this scheme. During 2009-10 (up
to Aug), a sum of Rs. 21.11 crore have been advanced.

7) Mini Dairy Loan Scheme

The Central Coop.Banks through its branches are extending loan

facility to the farmers for dairy development/ mini dairy for
purchasing 25 milch cattle. Under the scheme, a maximum loan
up to 5 Lacs can be advanced with a ceiling of Rs.25000 for each
animal. During 2007-08 Rs. 275.54 Lacs have disbursed by CCBs
in the state. During 2008-09, Rs. 285.27 Lacs have since been
disbursed. During 2009-10 (up to Aug), a sum of Rs. 84.04 lac
have been advanced.

8) Vehicle Loan Scheme

With a view to provide the vehicle loan to individuals, firms, HUF,

companies, trust and cooperative societies etc. a financial
assistance up to Rs.10 Lacs is provided for the purchase of new
vehicle. During the year 2007-08, the Central Coop. Banks have
advanced Rs.6128.29 under the scheme. During 2008-09, Rs.
8408.00 Lacs have been disbursed under this scheme. During
2009-10 (up to Aug), a sum of Rs. 31.27 crore have been
disbursed.

9) Two-Wheeler Loan to farmers

Under the scheme the bank can grant loan to the farmers for
purchase of two-wheeler up to Rs.50000/-. During the year
2007-08, the Central Coop.Banks have advanced Rs.3962.62
Lacs under the scheme. Similarly, during 2008-09, Rs. 3442.00
Lac have been disbursed under this scheme. During 2009-10 (up
to Aug), a sum of Rs. 12.61 crore have been disbursed.

10) Second hand vehicle loan scheme

In the modern era there is a heavy demand of second-hand

vehicles and the banks have surplus loan-able funds to diversify
the loan portfolio and to provide financial assistance to the
borrowers for purchase of second-hand vehicle, this scheme has
been devised. Under the scheme loan up to Rs 5 Lacs can be
sanctioned for purchase of second-hand vehicle.

11) Education loan scheme

With a view to provide the education facility to the children of

the employees a loan up to Rs. 10 Lacs can be sanctioned under
the scheme. During the year 2007-08, the Central Coop.Banks
have advanced Rs.234.73 Lacs under the scheme. Similarly,
during 2008-09, Rs.426.43 Lac have been provided under this
scheme. During 2009-10 (up to Aug), a sum of Rs. 173.47 lac
have been advanced.

New schemes launched by the Bank

1) Loan against property

The scheme is for providing finance against mortgage of

immoveable property & is designed to offer instant solutions
relating to socio economic and business needs such as children
higher education travel / daughter marriage, medical
emergencies etc. Under the scheme maximum loan up to Rs.25
Lacs can be advanced. During 2007-08, CCBs have disbursed Rs.
325.14 Lacs in the state. During 2008-09, Rs.1768.12 Lac have
been disbursed. During 2009-10 (up to Aug), a sum of Rs. 723.65
lac have been advanced.

2) Loan scheme for earnest money

In order to meet the requirements of the public the bank has

launched a loan scheme known as Loan scheme for earnest
money to meet the financial requirements towards the earnest
money deposit to book residential plot/ built up house, flats being
sold by govt. housing agency, urban development authority like;
PUDA, HUDA and Housing Board etc.

3) Loan against rental income scheme

For meeting business/ personal needs a new scheme for property

owners having their property situated it the area of operation of
the bank and who have let out or proposal to let out such
property to PSUs, reputed govt/ semi govt/ corporates, banks,
financial institutions, cooperative societies, insurance companies
etc. is launched. The minimum amount under the scheme is Rs.1
lac, there is no upper limit but it must be within prudential
exposure norms. During 2008-09, Rs.90.54 Lac have been
sanctioned under this scheme. During 2009-10 (up to Aug), a
sum of Rs. 14.63 lac have been advanced.

4) Commercial Dairy Development scheme

To increase the income of milk producers by helping them to

purchase high yielding milch cattle and to purchase necessary
equipment’s for the purpose, a new scheme known as commercial
dairy development scheme has been launched for the central
cooperative banks. Under the scheme the bank can provide
maximum loan up to Rs. 25 Lacs. During 2007-08, CCBs have
disbursed Rs. 21.64 Lacs in the state. During 2008-09, Rs.71.49
Lacs have since been disbursed. During 2009-10 (up to Aug), a
sum of Rs. 21.36 lac have been advanced.

5) Dairy Loan Scheme for purchase of a cow

Under the scheme a member of the Milk Producers Society can

be advanced up to Rs.0.50 Lacs for the purchase of a cow. During
2007-08, CCBs have disbursed Rs. 27.84 Lacs in the state.
During the year 2008-09, Rs. 255.00 Lac have since been
disbursed by CCBS in the state. During 2009-10 (up to Aug), a
sum of Rs. 48.97 lac have been advanced.
CHAPTER 13: SETTLEMENT OF DEATH
CLAIMS
INTRODUCTORY

Death of account holder-Contract is risked Upon the death of an

account bolder, the authority given by him to the harkway either
drawn by him or his agent stands revoked. Mandates and Power
of Any third party to operate upon the account is automatically
terminated on the holder. So, all cheques signed by the account
holder or his agent shall with the remarks "Depositor Deceased."

Noting of notice of death in ledger

As soon as the bank gets the notice of death of the account

holder, the fact he both on the account opening form as well as
the personal ledger of the deposit is red mentioning the date and
source of information. Notice of death of the comm holder
newspaper, a report from reliable sources: production of death
certificate, notice to the bank about the death of the account
holder. If an oral information is about the death of the customer
the Branch Manager shall confirm this information from reliable
sources before acting upon it.

Payment made after the death of customer but earlier to the

receipt of death

All payments made out of the account after the death of the
customer hut before the rig an information of the death are valid
payments in due course.

Ascertainment of legal representative

According to 'will' or 'personal law Upon the death of the
customer the balance in the account shall be paid only to the
legal representatives of the deceased. In no case payment is to
be made to any other person. The question of legal
representative(s) of the deceased depends upon whether the
deceased had during his life time, recorded his wishes stating as
to who should take his assets in the event of his death. If the
deceased had executed a valid will, the assets of the deceased in
the hands of the bank will be paid/delivered in accordance with
the provisions of the will. On the other hand, if the deceased
constituent had not made any will, legal representative(s) will be
ascertained on the basis of the personal law applicable to the
deceased. Each religious group

DOCUMENTS REQUIRED IN SETTLEMENT OF CLAIM UNDER

NOMINATION FACILITY

The following documents are to be obtained for settlement of

claim of deceased accounts in which nomination has been made:

i) Claim form duly filled in by claimant (Annexure 11.10)

ii) Affidavit from the nominee duly attested by the Notary

Public/Magistrate (Annexure 11.11)

iii) Indemnity bond from nominee and the sureties indemnifying

the bank.

iv) Death certificate in usual form.

PERIOD OF PRESERVATION OF RECORDS RULES, 1998

the Co-operative Banks (Period of Preservation of Records) Rules,

1998
The Co-operative Banks (Period of Preservation of Records)
Rules, 1998

1. Short title and commencement. —

(1) These rules may be called the Co-operative Banks (Period of

Preservation of Records) Rules, 1985.

(2) They shall come into force on the date of their publication in

the Official Gazette.

2. Every Co-operative Bank shall preserve, in good order, its

books, accounts and other documents mentioned below, relating
to a period of not less than five years immediately preceding the
current calendar year. Ledgers and Registers:

(1) Cheque Book Registers

(2) Delivery Liability Registers

(3) Demand Liability Registers

(4) Demand Remittances Dispatched Registers

(5) Demand Remittances Received Registers

(6) Vault Registers

Records other than Registers:

(1) Telegraphic Transfer Confirmations

(2) Telegrams and Telegram Confirmations

3. Every Co-operative Bank shall preserve, in good order, its

books, accounts and other documents mentioned below, relating
to a period of not less than eight years immediately preceding the
current calendar year. Ledgers and Registers:

(1) All personal ledgers

(2) Loans and Advance Registers or Ledgers

(3) Call, Short or Fixed Deposit Registers or Ledgers

(4) F.D. Interest Registers

(5) Draft, T.T. and Mail Transfer Registers

(6) Remittance Registers

(7) Bills Registers

(8) Clearing Registers

(9) Demand Loan Liability Registers

(10) Draft and Mail Transfer Advices Dispatched Registers

(11) Draft and Mail Transfer Advices Received Registers

(12) Draft Payable Registers

(13) Drawing Power Registers

(14) Stock Registers of Goods Pledged

(15) Stock and Share Registers

(16) Government Securities Registers or Ledgers

(17) Registers Showing Collection of Dividends and Interest on

Securities on behalf of Constituents.

(18) Registers or Ledgers of Bank’s own Investments

(19) Branch Ledgers

(20) Overdrafts and Loan Registers

(21) Safe Custody Registers

(22) Equitable Mortgage Registers

(23) Trust Registers

(24) Clean Cash Books

Records other than Registers:

(1) Bank Cash Scrolls

(2) Bank Transfer Scrolls

(3) Remittance Schedules

(4) Paid Cheques

(5) Paying in slips

(6) Vouchers relating to DDs, TTs, MTs, Fixed Deposits, Call

Deposits, cash credits and other deposit and loan accounts
including vouchers relating to payment to nominees

(7) Account opening forms, inventories prepared in respect of

articles in safe custody and safety locker and nomination forms

(8) Standing Instructions regarding Current Accounts

(9) Applications for TTs, DDs, MTs and other Remittances

(10) Applications for Overdraft, Loans and Advances

(11) Press-copy books.
CONCLUSION

In this project report the summary of the whole project has been
covered how the whole project was carried out and the analysis
was made. This project is based on the "Comparative study of
home loans provided by different banks". This topic covers the
objective of studying the customer satisfaction level and
comparative study of disbursement of home loans.

The Housing Loan is a loan taken by a borrower from the bank

issued against the property/security intended to be bought on the
part by the borrower giving the banker a conditional ownership
over the property. There are some advantages and disadvantage
of availing bank loans. In this project study, first of all objectives
were received to carry out this project. To study the topic under
research the secondary data was collected. Such banks are
emerging at higher position due to that public sector banks on
ground of professionally managed services, reliable & transparent
system, easy query handling etc. The problem faced by
customers while availing home loans also reviled by this project.

Finally the whole research was carried out in a systematic way to

reach at exact results. The whole research and findings were
based on the objectives. However, the study had some limitations
also such as lack of time, lack of data, non-response, reluctant
attitude and illiteracy of respondents, which posed problems in
carrying out the research. But proper attention was made to carry
out research in proper way which may beneficial for banks to
enhance their customer base.
Bibliography
www.google.com

https://www.punjabcooperation.gov.in/html/pscb_history1.html