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Centralization of Service Tax Payment. Bank has centralized the payment of Service Tax. To Plug Income leakages caused by Non availment / short availment of CENVAT Credit Avoid Double payment of ST on commission income distributed among various Branch Offices

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centralization of service tax payment
Centralization of Service Tax Payment
  • Bank has centralized the payment of Service Tax.
  • To Plug Income leakages caused by Non availment / short availment of CENVAT Credit
  • Avoid Double payment of ST on commission income distributed among various Branch Offices
  • Ensure Better compliance of ST Regulations
  • Reduce cost of compliance as most of the branches outsourced the services to CAs/Advocates
tdr stdr on security form discontinued
TDR/STDR on Security form discontinued
  • Except for SBI Tax Savings Scheme-2006
  • All in Non Security Forms- as Deposit Advices
  • To formalize the instructions and bring uniformity across the Bank.
  • To simplify the procedure relating to issue of TDR/STDR receipts.
vendor payment functionality
Vendor Payment Functionality
  • VPF developed in CBS.
  • To capture details of Service Tax Paid
  • Thus enabling Bank to avail input CENVAT credit when paying Service Tax centrally
non home branch transaction reg discontinued
Non Home Branch Transaction Reg discontinued
  • Non –home transactions are extremely popular with our customers and same is a big component of the total transactions in many brs.
  • With such big volumes of these transactions, manual maintenance of the said register creates logistical problem for branches and hampers our customer service.
ioi double signature cut of limit
IOI- Double Signature Cut of Limit-
  • Enhanced to Rs. 150,000/-
  • Issuance of IOI has been designed so that IOI can not be printed and delivered to customer without passing the corresponding accounting entry or updating @ CDC
  • At the time of payment of IOI, the user has the comfort of verifying the issue details before payment
  • If the security BIAK is invalid, system will not permit payment.
  • Hence IOI has ample security features to avoid fraud
drafts ioi lost reg
Drafts/IOI Lost Reg
  • IOI/Drafts Lost Register Dispensed with.
  • Previously Branches were updating the data and reporting to Drafts Reconciliation Department and they were issue circulars to that effect.
  • Now that all branches have migrated to CBS, Lost instruments are updated immediately in CBS.
  • DRD circulating that list once in a quarter is redundant.
  • Hence the maintenance of Drafts/ IOI register is dispensed with
nlcit abolished
NLCIT Abolished
  • National & Local Clearing In Transit abolished
  • Instructions have been reviewed due to change in style of banking, 100% migration of branches to Core Banking and availability of Clearing through various modes .
  • ‘MICR’, ‘Non-MICR’, ‘High Value’, ‘Inter-Bank’, ‘National’, ‘Late Clearing High Value’ and ‘Late Clearing-Other’ have been introduced
  • ‘Cheque Truncation’ and ‘Real Time’ payment is now possible.
  • To obviate frauds through misuse of these accounts.
fugitive ink testing
Fugitive Ink Testing
  • Made compulsory for payments of cheques for Rs.25000/- and above.
  • Cheques printed with Fugitive Ink smears when a droplet of water is put on the cheque and all our cheques are printed on Fugitive Ink.
  • If the ink does not smear, the cheque is treated as fake and payment to be stopped.
  • To prevent fraud through payment of fake cheque.
offering of mbs
Offering of MBS
  • Now a days Mobile Banking Services (MBS) is offered as a part of a/c opening itself.
  • Propagation of Mobile Banking Services (MBS)
  • Enhancement of Customer delights through better utility services.
cheque return date of return
Cheque return- Date of return
  • Date of return -Must be given in Cheque Return Memo
  • To enable customers for initiating legal action without any hassles
  • Adoption of Uniform Norms
system policy reviewed
System Policy reviewed
  • System Policy has been reviewed recently by the Bank.
  • An effective ‘Systems Policy’ is required for imparting the necessary sense of purpose and direction to translate vision and mission of the Bank into a reality.
inspection audit
Inspection & Audit
  • System & Procedures Audit areas have been revised-
  • From 20 to 13
  • Areas for ‘Systems & Procedures Audit’ revisited with a view to delete, modify and add areas
  • As required in keeping with changes in systems post CBS and BPR.
inoperative a cs
Inoperative A/cs
  • No Customer induced operations (Dr/Cr) for 2 years.
  • Balance above- Rs.5000/- . Letter to be sent for ascertaining reasons for Non Operations.
  • Instructions reviewed to comply with RBI guidelines that banks shall be more proactive

in finding the whereabouts of the a/c holders whose accounts have remained inoperative.

duplicate dds to staff
Duplicate DDs to Staff
  • In case the purchaser of the demand draft is a Staff Member, obtention of indemnity for issuance of a duplicate demand draft where the amount of draft is upto Rs.50,000/- has been waived.
  • Instructions have been reviewed in the light of 100% migration of branches to Core Banking and introduction of ‘Inter Office Instruments’, where the status of the instrument is known to all the branches.
  • Waiver of the “Letter of Indemnity” for staff members is only an administrative decision, Bank’s interest is protected and action may be taken against the erring staff for making a false declaration.
  • Conversion Rate applied?
  • Bill Buying/ Bill Selling rate (Earlier- TT Buying/selling)
  • To Cover the Cost of Operations of FTC
  • To improve profitability
  • Bank increased the charges for ATM Balance Enquiry Fee to USD/Euro/ GBP- 0.50.
  • VISA charges 58 cents for all Banks
  • To cover the cost & in line with market
  • This levy of charges will encourage web enquiries which is cost effective to the Bank
market related transfer pricing has been introduced
Market related transfer pricing has been introduced

To ascertain the true profitability of operating units by benchmarking the product prices to the market rates.

More scientific method which integrates with the asset liability management.

Periodicity for issuance of Form-16 (Non Salary)

Time Limit for issuance of Form-16 ( Salary)

TDS new limit (Rent)

TDS recovered for March to be credited to Gov a/c on or before

New Rate of TDS if PAN not quoted/ incorrect PAN


31st May


30th April

20 % or Applicable Rate whichever is Higher

kyc aml
  • Issued under B.R Act-1939- Sec-35A
  • Also PMLA-2002
  • A/c opening of Salaried Employees- Letter of introduction- Only from Reputed Corporate/ Other entities.
  • Have to obtain one more Officially valid document
  • To contain risk of fraud
kyc aml1
  • 4 Key Elements
  • Customer Acceptance Policy
  • Customer Identification Procedures
  • Monitoring Transactions
  • Risk Management
  • Revised as India became a member of FATF
  • Non Compliance will lead to problems in international relations.
kyc aml2
  • India achieved membership of FATF wef 01/07/2010.
  • KYC Compliance & Fraud Prevention Day- 01st August
  • Risk Categorisation for all a/cs- review-
  • Once in 6 Months
  • PAN to be verified-www.incometaxindia.gov.in
  • Corporate details to be verified with www.mca.gov.in
kyc aml3
  • Individuals who have been entrusted with prominent public functions in a foreign country-
  • PEPs
  • Opening of A/cs of PEPs to be approved by
  • Controllers- If Branch is Junior & Middle Mgmt
  • BMs- If Branch is Senior Management
  • Branch has no direct interaction with the customer at the time of opening the a/c-
  • Non Face to face customer
kyc aml4
  • An a/c to be for a minor –aged 9 years – whose ID will you take for KYC compliance?
  • ID of the person who operates the a/c
  • FIU-IND-
  • Financial Intelligence Unit- India
  • Backend software for monitoring KYC/AML-
  • Amlock-
  • KYC/AML Cell- Jaipur
risk categorization kyc
Risk Categorization- KYC
  • Low Risk- A/cs of- Salaried Class/Pensioners/ People of Lower economic strata with low turnover/ Individuals /Small Business units with Debit or Credit summations below Rs.10 lakhs/ Govt Depts/ FIs.
  • Medium Risk- All Business units/ individuals in business with credit or debit summations from Rs.10 lak to Rs. 1.00 cr
  • High Risk- Cr/Dr summations > Rs.1 Cr, NPA A/cs, PEPs, Non Face to Face customers, People living in High Risk Countries (advised by Global Markets Unit)/ Trusts/Societies etc
rtgs neft
  • Minimum Threshold Limit for RTGS under R-41-
  • Rs.200,000/- ( wef 15/11/2010 )
  • Inter-Bank Transfers-Under R-42- No limit
  • A new Special Value Band of Service Charges for NEFT for amounts between- Rs.1.00 lakh to Rs.2.00 lakh created.
  • As an incentive to customers to move their transactions to NEFT, a new value band in the Rs.1 lakh to Rs.2 lakh segment has been created, with customers having to pay lower charges vis-à-vis RTGS transactions (Rs-15/-)
rtgs neft1
  • In case of Delay in credit of NEFT/RTGS proceeds by destination bank, what is the penal interest rate?
  • RBI LAF Repo Rate + 2 % till the date of refund
  • Staff joining the Bank on permanent basis, are eligible for Defined Contribution Pension Scheme/ New Pension Scheme-w.e.f 01/08/2010
  • Best AGM (Region) Scheme has been renamed as –
  • Chairman’s Club Scheme ( For Regional Managers)
  • Special LFC to be availed within One Year or else cash award as laid down in the scheme will be suo moto paid
  • Ceiling on Gratuity has been recently revised to Rs. 10.00 lakh wef 24/05/2010.
quarterly results are published by the bank
Quarterly results are published by the Bank .
  • To adhere to the listing arrangements as per SEBI directives.
  • Dissemination of information regarding the performance and to enable the investor public/shareholders to take an informed decision.