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General Charges

 

ANNEXURE 1

SCHEDULE OF SERVICE CHARGES (GENERAL)

 

Charges w.e.f. 01.02.2017

 

Schedule of Service Charges (General)

1.   MAINTENACE OF LEDGER ACCOUNTS

S.No

Service

Minimum Balance

Minimum Balance Charges

Remarks

 

 

 

Non -Indiv.

Individuals

 

1.1

Minimum Balance Requirement and charges for not maintaining Minimum Balance in the account

 

A

Basic Savings Bank Deposit Account

 

 

a) R and U branches

NIL

NIL

NIL

 

 

b) U and M Branches

NIL

NIL

NIL

 

B

All types of Pensioners/Senior Citizen Accounts

 

 

With Cheque Book Facility

Rs. 250/-

NIL

NIL

 

(All Branches)

 

Without Chq Book Facility

Rs. 250/-

 

NIL

 

(All Branches)

C

Savings Bank Account- General

 

I

Without Cheque Book Facility

Rs. 50/-(R/SU)

Nil

 

Rs. 100/- (U/M)

ii

With Cheque Book Facility

Rs. 100/- (R/SU)

Rs. 200/- (U/M)

D

Savings Bank Account-Other (SB Unnati)

Min bal charges shall be calculated based on monthly average balance

I

R/Semi U Branches)

Rs. 1000/-

Rs. 50/- pm

 

ii

U/M branches

Rs. 2500/-

Rs. 100/-  pm

 

E

SB Smart Save

Rs. 25000/-

Rs. 400/-pq*

Min bal charges shall be calculated based on quarterly average balance

F

Current Account General

Min bal charges shall be calculated based on monthly average balance

 

a) Rand SU Branches

Rs. 2000/-

Rs. 200/-pm

 

 

b)U and M Branches

Rs. 5000/-

Rs. 300/-pm

 

G

Current Account Pragati

Min bal charges shall be calculated based on monthly average balance

 

a) R and SU branches

Rs. 5000/-

Rs. 350/-pm

 

 

b) U and M Branches

Rs. 10000/-

Rs. 500/-pm

 

 

 

H

 

Current Account -Premium Gold

Rs. 200000/-

Rs. 2000/-pq

Min bal charges shall be calculated based on quarterly average balance

* Mode of calculation of Minimum Balance

Charges as above be levied for non-maintenance of minimum balance at the end of the month in case the balance at the close of any one or more business day(s) during the month is observed below the minimum balance requirement.
In premium Schemes i.e SB smart Save, Current Premium Gold Minimum balance charges are recovered quarterly in case quarterly average balance falls below the minimum average balance requirement.
No charges shall be levied on zero balance account as the same will be parked in lien amount.

 

*Per Quarter (pq) 

Concession

Concessions are available for the beneficiaries of social justice schemes of Central
State Government including members of scheduled caste / tribe communities and physically
challenged persons and these are allowed to open Savings Bank Accounts without
any minimum balance requirement.

 

List of beneficiaries/ schemes of Central/ State Governments is given hereunder:

A)    Beneficiaries under:  

i)    Swaranjayanti Gramin Rojgar Yojna (SJGRY)

ii)    Swaranjayanti Shahri Rojgar Yojna (SJSRY) 

iii)   PM Employment Generation Programme (PMEGP) 

iv)   Antodaya Swa-Rojgar Yojna (ASRY) 

v)    Dr. Shyama Prashad Mukharjee Swa-Rojgar Yojna 

vi)   SC / ST Finance and Development Corporation of State Governments 

B)   Pensioners of Social Welfare / Physically handicapped welfare departments of State Governments. 

C)   Teachers and employees of aided schools of State Governments. 

D)   Physically handicapped / blind persons. 

E)   Student scholarship accounts of State Governments including SC / ST beneficiaries. 

F)   Persons / farmers engaged in Tiny and Small units associated with KVIC. 

G)  Beneficiary of National Family Assistance Scheme. 

 

2.   In order to open a Savings Bank Account under special category as stated above,
the prospective account holder is required to produce any documentary evidence such
as Pass Book / beneficiary Card issued under the scheme, certificate from BDO/

Gram Panchayat/ Administrator/ Chief Executive Officer 

of the Social Welfare Schemes/ Employment Schemes/ School authorities distributing

stipends/ scholarship etc.  A copy  of such authentic and documentary evidence

should be kept on record along with the Account Opening Form for inspection purposes.

 

Conditions

Customers under this Scheme shall be eligible for one Free of Cost Personalized Cheque

Book of 25 Leaves during a Calendar Year.

  • Savings Bank account holders of the above-mentioned category shall not be

subjected to any penalty for non-maintenance of minimum balance in their Savings Bank account. 

 

3.     Besides incumbents/in-charge shall have the powers to open accounts with zero

balance as well, i.e. Accounts can be opened with initial zero deposit. This facility is

being provided as a business supportive/ marketing tool for marketing Savings Bank

Accounts of the individuals especially salary accounts. Once accounts are opened with

zero balance concept and operations start, further operations shall be in line with the

terms and conditions of the respective category that the particular account falls in.

 

S.No

Item

1.2

Duplicate Passbook

A

With latest Balance only

Rs. 150/-

B

With previous Entries

Rs. 150/- plus Rs. 1/- per entry

C

Account Statement for SB

Minimum Rs. 100/- per request plus Rs. 2/- per entry

         

 

In case customer requests for statement through MBanking/ IBanking/through e-mail & In case

of Flexi deposit accounts (Saving & Current)  charges shall be NIL

 

1.3

Free Ledger Folios*  allowed per year

A

 Average  Credit Balance

 (in Current account)

NIL

Up to Rs. 25,000/-

B

Above Rs. 25,000/- up to

2

Rs. 50,000/-

C

Above Rs. 50,000/- up to  Rs. 1,00,000/-

4

D

Above Rs. 1,00,000/- up to Rs. 2,00,000/-

7

E

Above Rs. 2,00,000/-

No Charges

Note: For accounts maintained in computer, 40 entries or part thereof is treated as one ledger folio.

1.4

Incidental Charges (Ledger Folio Charges)-Operative Accounts

A

CA/Cash Credit/Overdraft (no free folios in OD/CC Accounts)

Rs. 2/- per entry (Subject to free folios in Current Accounts)

B

SB(Other than Basic SB Deposit Account/Staff Accounts)

Rs. 2/- per entry in excess of 40 debits permitted in half year in SB account (for non cash transaction excluding bank induced/ATM/i-Bank)

C

Basic Savings Bank Deposit Account

Rs. 5/- per debits in excess of 6 debits permitted in a month. Restriction of six free withdrawal/transactions taking place through our Micro ATM is removed and hence withdrawal transaction above six will not be charged w.e.f. 01.03.2016 (*** Kindly refer  board note A-10 dated 28/09/2015 (Rural Dev & Priority Sector Dept)

1.5

Issue of Multicity /MICR / Non-MICR cheque books*

 

 

Non Individuals

Individuals

A

 

 

 

CTS -2010 Standard Cheques

Non-Personalised - Rs. 5/- per leaf

Non-Personalised - Rs. 5/- per leaf

(a) Personalised request through i-Bank Rs. 3/- per leaf (b) Personalised request through branch- Rs. 4/- per leaf

Personalised request through IBank- Rs. 3/- per leaf Personalised request through branch- Rs. 4/- per leaf

B

Non-MICR Cheque Books

Discontinued

C

Concessions in Cheque Book Charges

I

CA Premium Gold

Free cheque book (Personalized)

Two Non-Personalized cheque books free thereafter as per above charges.

II

SB Smart Save

100 Cheque Leaves Free Per year thereafter as per above charges.

III

Normal SB

25 Cheque Leaves Free Per year thereafter as per above charges.

IV

Basic Savings Bank Deposit Account

10 cheque leaves free per year

V

SB Unnati

50 Cheque Leaves Free Per year thereafter as per above charges.

1.6

Standing Instructions

A

For transfer entries (Transaction involving credit to other accounts within the same branch)

NIL

B

For transactions involving transfer of funds to other centers

Applicable ABB Charges

C

Registration of Standing Instructions (Involving transfer of funds to other institutions)

Rs. 50/- per instruction

D

Execution of Standing Instruction & remittance to other institutions viz. LIC premium etc.

Rs. 25/- per transaction plus remittance charges plus actual postage

 

E

Non Execution of SI(due to insufficiency of Funds) 

Rs. 25/- per transaction

 

Applicable to all types of transactions

(1) Charges to be levied to the account from which the amount is transferred.  (2) No charges be levied if transfer from a depositor's account to other deposit account (scheme) of the same depositor / Joint account holder. (3) No Standing Instructions Charges be levied on borrowal Accounts for Loan Installments under Term Loan/ Retail Credits/ Housing Loan installments from its Account. Concessions to such borrowers shall extend to those who enjoy/ are enjoying credit facilities at the same Branch or other Branch of our Bank where his/ her Account is maintained.

1.7

Stop Payment Instructions

A

SB Accounts

Rs. 100/- + ST per instrument up to 3 leaves

Range of Cheque Rs. 500/- + ST.

B

Current Accounts/CC/OD Accounts

Rs. 200/- + ST per instrument up to 3 leaves

Range of Cheque Rs. 600/- + ST

No charges shall be levied if stop payment instruction is made through registered Internet Banking.

1.8

Cancellation/Revocation of Stop Payment instructions

A

SB Accounts

Rs. 10/- per instrument, Maximum Rs. 100 per instruction

No charges from pensioners and Sr citizens

B

Current Accounts/CC/OD Accounts

Rs. 20/- per instrument

 Maximum Rs. 200/- per instruction

1.9

Penalty Charges for Depositing Delayed Installment Progressive Deposit Account

Rs. 2/- per 100/- pm irrespective of periodicity of deposits

1.10

 Charges for Account Statement  for lesser frequency - (For Current/CC/OD accounts)

   

Non-Individual

Individual

A

Monthly Statement  (Duplicate) *

Once Free

Once Free

For duplicate statement: Rs. 3/- per entry minimum Rs. 200/- per request

For duplicate statements Rs. 3/- per entry Minimum Rs. 200/- per request

B

Statement of Account With Shorter Frequency (For CA/CC/OD Accounts only)

Sending statement through post discontinued, customer to register e-mail login and utilise iBank facility for downloading statement.

In case customer requests for statement through MBanking/ IBanking/through e-mail & In case of Flexi deposit    accounts (Saving & Current)  charges shall be NIL

*Currently, the charges for issuance of duplicate passbook/statement (CA & SB) are recovered via Finacle live manually and most of the time branches do not vouch these charges. We propose that the functionality for recovery of charges on account of issuance of duplicate passbook/statement be enabled so that same can be recovered automatically and revenue leakage can be avoided.

 

Non Individuals

Individuals

1.11 Charges for Recording Reconstitution

 Rs. 200/-

NA

(No charges in case of Death of account holder)

1.12 Allowing operations through Power of Attorney

Rs. 500/-

 Rs. 300/-  all customers

1.13 Change of Authorized Signatory/operational instructions in the account

Rs. 200/- per occasion

Rs. 100/- per occasion

(No charges in case of death of existing signatory)

(No charges in case of death of existing signatory)

1.14 Copy/image of Original of Cheque/Draft (Paid/) by the bank

Rs. 100/-  for attested copy per instrument

1.15 Image of Cheques sent for collection (In CTS)

Rs. 100/- per instrument

1.16 Transfer of Account in any other branch of the Bank

Out of pocket expenses maximum Rs. 50/-(for all segments)

1.17 Transfer of entire balance in SB account to some other bank

Remittance Charges+ out of pocket expenses

1.18 Postal Charges (ordinary Post)

A Postal Charges (ordinary Post)

Only through speed post as such charges

Rs. 30/- or actual whichever is higher

B Registered Post/speed Post/Courier Charges

Only through speed post as such charges

Rs. 30/- or actual whichever is higher

1.19 Charges for opening Escrow Accounts

Charges be prescribed by CMO/ Credit Deptt. on case to case basis after studying the terms of opening and permitting operations in such accounts. Minimum Charges : Rs. 5000/-

1.20 Old Record Inquiries*

A - Upto one Year Old

Rs. 100/- per reference Plus out of pocket Expenses

- Beyond 1 year

Rs. 200/- per reference/ request/ document/ per sheet+ out of pocket expenses

1.21 Inoperative Dormant Account

NIL

(incidental Charges)

No penal charges for non-maintenance of minimum balance in respect of Inoperative/Dormant accounts as per RBI guidelines.

1.22 Closure of Account

A Account Closed within 14 days of opening the account

No Change

B Accounts closed after 14 days but within 12 months of opening

i. Savings Bank account

M/U- Rs. 200/-

SU/R- Rs. 100/-

ii. Current Accounts

M/U- Rs. 500/-

SU/R- Rs. 250/-

iii. Accounts closed after 12 months

NIL

Note:

No account Closure charges on account of Death of the customer.

§  Transfer of account from one branch to another branch of the Bank shall not be considered as closure of account, hence no charges will be recovered. Similarly opening of another account in the joint names after closing the existing one and payment in the deceased depositor account shall not be considered as closure of account.

1.23 Issuance of certificate to the constituents

 

Non Individuals   

Individuals

i. R and Semi U Branches

Rs. 75/- per certificate

Rs. 50/- per certificate

ii. U and M Branches

Rs. 100/- per certificate

Rs. 75/- per certificate

Certificate Includes: Attestation of customer's signature/ Photograph**  No Objection Certificate: Duplicate TDS Certificate: No Dues Certificate: Certificate of Balance (Only two certificates are free in a year) : Cheque Honoured Certificate: Account Maintaining Certificate: Any other certificate relating to deposit account except Solvency certificate charges for which are prescribed by RMD): Cheque honoured certificate.

Exemption:

No service charges shall be levied for (1) issue of No Dues Certificate on adjustment of loan accounts (2) issue of No Objection Certificate to the applicants under various Government sponsored  schemes (3) certificate of Interest paid on Deposits or TDS Certificate for the first time. 

1.24 Loss of Token

Rs. 50/- per token

2.     REMITTANCES

S.No

Item

2.1

Issuance of Demand Draft (Non-cash basis)

A

Up to Rs. 5000/-

Rs. 50/- upto Rs. 10000/-

 

For students

(for  amount above Rs. 5000/- normal charges shall be applicable for students also)

B

Above Rs. 5000/- up to Rs. 10000/-

C

Above Rs. 10,000/-

Rs. 5/- per Rs. 1000/- or part thereof- Minimum Rs. 50/- maximum Rs. 12000/-

 

D

Remittance against tender of cash ( below Rs. 50,000/-)

50% over & above the rates prescribed (all branches)

Note:

No charges shall be levied for issuance of Drafts favoring beneficiaries on account of disbursement of Term Loans/ Retail Loans/ Housing Loans.

Charges for remittance against cash shall be recovered from students remitting money for fee.

2.2

Issuance of Duplicate Draft/ Revalidation of Draft/ and Cancellation of Drafts

A

Issuance of Duplicate Draft

50% higher charges over floor rate.

B

Cancellation of Draft

50% of normal applicable charges or maximum Rs. 150/- (for all segments of customers)

C

Revalidation of Demand Drafts

50% of normal applicable charges or maximum Rs. 150/- (for all segments of customers)

2.3

ECS Clearing Credit/Debit

 

Each Transaction

NIL

2.4

RTGS Charges

A

RTGS Charges for Banker Transactions

I

Inward Remittance

NIL

 

 

ii

 

Outward Remittance

 

 

Up to Rs. 2lacs -Free

Above Rs. 2 lacs to 5  lacs-- not

exceeding Rs. 25 per transaction

Above Rs. 5 Lac - not exceeding Rs. 50 per transaction.

B

II- RTGS Charges for Customer Transactions

I

Inward Remittance

NIL

 

 

ii

 

 

Outward Remittance

Upto Rs. 2 lac-NA

Above Rs. 2 lac to 5 lacs-- not exceeding Rs. 25 per transaction

Above Rs. 5 Lac - not exceeding Rs. 50 per transaction.

2.5

NEFT Charges

I

NEFT Inward

NIL

ii

 

 

NEFT outward

 

 

 

Transaction Slab

Upto Rs. 2000/-

Above Rs. 2001/-  to

 Rs. 1 Lac

Above Rs. 1Lac to

 Rs. 2 Lac

Above Rs. 2Lac

No charges if RTGS/ NEFT transactions initiated via i-Bank.

2.6

Indo-Nepal Remittance through NEFT

i. Originating bank - Maximum Rs. 5/- per transaction

ii. State Bank of India - Rs. 20/- per transaction. SBI would share this Rs. 20/- with NSBL       at Rs. 10/- each. NSBL would not charge any additional amount for crediting the beneficiary, if he maintains an account with it.

iii. In case the beneficiary does not maintain an account with NSBL then, an additional amount would be charged- Rs. 50/- for remittances up to Rs. 5,000/- and Rs. 75/- for remittance above Rs. 5,000/-.

2.7

Electronic Funds Transfer (EFT- Outward)

 

Now that NEFT service has been introduced and charges for the same have been prescribed by RBI, we propose same charges for EFT services.

2.8

National Automated Clearing House (NACH) Mandate Charges

A

One time Mandate Authorization Charges

Per Mandate Rs. 100/- + ST

B

Failed Mandate

Failed Mandate Rs. 250/- + ST

C

NACH Credit Charges

Nil

(Per transaction)

D

NACH Debit Charges

Nil

(Per transaction)

2.9 Local Cheques/ ECS returned unpaid

A - Returning Charges through clearing House (For Cheques returned by us)

 

 

Upto Rs. 50000/    =  Rs. 150/-

Above Rs. 50000/ to Rs. 100000/- =  Rs. 250/-

Above Rs. 1 lac to Rs. Ten lac    = Rs. 500/

Above  Rs. Ten lac   = Rs. 1000/(max)

( The bank will levy cheque return charges only in cases where the customer is at fault and is responsible for such returns)

B - Local Cheque  Returning Charges through clearing House (For Cheques returned to us)

Rs. 25/- per instrument for SB accounts

Rs. 50/- per instrument for other type of accounts

Note:

Branches are aware that when a cheque drawn on the bank is presented through clearing (inward clearing), the bank's account at the RBI/ SBI / Clearing House Principal Bank is debited. If such cheque is returned for any reason, it goes back to the presenting bank through the clearing house and the Drawee bank's account at the RBI/ SBI/ Clearing House Principal Bank is credited. Such a debit while the cheque gets presented and the consequential credit on account of returning of cheque would have a time lag of a day or more, resulting in outlay of funds. If the cheque is returned "FOR WANT OF FUNDS" or for any other reasons not attributable to our Bank, there is a case for Drawee bank to levy interest for the period the bank has remained out of funds. In such cases, branches are advised to levy charges as prescribed above. The number of days for which the bank has remained out of funds shall depend upon the time taken at different clearing centres and would be determined by the Incumbents at their end.  Returning charges to be collected only on cheques returned for reasons attributable to the drawer of the cheque and not in other cases.

 

3

COLLECTION

S.No

Item

 

 

 

SB account customers

Other than SB account Customers

3.1

Collection of Outstation cheques / drafts (Including outstation cheques under National Clearing)

A

Upto and including Rs. 1000/-

Rs. 5/- and actual out of pocket expenses

Rs. 10/- and actual out of pocket expenses

B

Above Rs. 1000/- Rs. 5,000/- and upto and including Rs. 5000/-

Rs. 25/-

Rs. 25/-

C

Above Rs. 5,000/- and upto and including Rs. 10,000/-

Rs. 50/-

Rs. 50/-

D

Above Rs. 10,000/- and upto and including Rs. 1,00,000/-

Rs. 100/-

Rs. 125/-

E

Above Rs. 1,00,000/-

Rs. 150/-

Rs. 200/-

 

A new slab for cheques upto Rs. 1,000/- has been added in view of the security deposit received back by students from schools/ colleges or the small value cheques received by persons belonging to low income group.

The above charges are all inclusive (other than Service Tax and the applicable cess, if any).  No additional charges such as courier charges, out of pocket expenses, etc., should be levied from the customers except in cases where specifically mentioned.The above charges are applicable only to transactions originated and payable within India.

3.2

Immediate credit of Outstation cheques in accounts of Individual account holders

Immediate credit of outstation cheques up to Rs. 15,000/-(R/Semi U) and Rs. 25000/-(U/M) on request -Rs. 15/- per instrument plus actual out of pocket expenses

3.3

Collection of Outstation Cheques under Speed Clearing

 

 

SB account customers

Other than SB account Customers

 

Upto and including Rs. 1,00,000/-

Nil

50

 

Above Rs. 1,00,000/-

100

150

 

Note:

  • Charges shall be levied by the Collecting branch.
  • No speed clearing charges on outstation cheques to be credited in Loan/NPA/PD accounts.
  • No speed clearing charges shall be levied on multi city payable at par instruments.
  • Returning charges for Outstation cheques/ instruments sent/ received in Speed Clearing shall be the same as for Local Cheques sent for collection/ received for payment through Clearing House.

3.4

Collection of local cheques / drafts

A

Collection of local cheques / drafts

No collection charges to be levied.

B

Immediate credit of Local cheques in accounts of Individual account holders is permitted only at centres where no formal clearinghouse exists.

Immediate credit of local cheques up to Rs. 15,000/-(R/ Semi U) and

Rs. 25000/-(U/ M) on request-Rs. 15/- per instrument plus actual out of pocket expenses

C

Immediate credit of all instruments payable at par, like interest/ dividend warrants and other Prepaid instruments like demand drafts etc., drawn by a bank on its branches.

Immediate credit upto Rs. 30000/- without any specific request-Rs. 15/- per instrument plus actual out of pocket expenses

S.No

Item

3.5

Collection of local/ outstation bills-Outward & Inward {Clean/ Documentary/ Usance & Supply Bills including Bills received under Inland LC (Excluding Drafts, cheques etc.)

A

Up to Rs. 5,000/-

Rs. 100/- plus out of pocket expenses

B

Above Rs. 5,000 up to  Rs. 10,000

Rs. 100/- plus out of pocket expenses

C

Above Rs. 10,000 up to  Rs. 1,000

Rs. 10/- per thousand or part there of minimum Rs. 100/-

D

Above Rs. 1,00,000

Rs. 9/- per thousand or part thereof. Minimum Rs. 1000/-

Maximum: Rs. 15000/-

E

Documents/Bills: received for collection : CHANGE OF ORIGINAL INSTRUCTIONS in respect of outward/inward bill for collection including (Waiving C Form, delivery Free of Payment, extending retirement time etc.)

Rs. 150/- per instruction

F

Documents received for collection

Normal Collection charges + out of pocket expenses.

if required to be delivered FREE OF PAYMENT to drawee OR

to be returned back as UNREALISED

G

Charges for presenting Usance Bill

Rs. 100/- per instrument

3.6

Outstation Cheques/ bills returned unpaid & Penal Interest

A

Outstations Cheques / Bills (Inward and outward collection) (For bills returned unpaid by us)

50% of applicable collection charges subject to minimum of Rs. 100/- plus actual out of pocket expenses.

B

(For bills returned unpaid by us)

Rs. 25/- (For Savings Bank)

Rs. 50/- (For other types of accounts)

C

Outstations Cheques / Bills (Outward collection & Purchased)

 

Outstations Cheques / Bills (Outward collection & Purchased)

50% of collection charges subject to minimum Rs. 100 Besides, actual out of pocket expenses incurred be also recovered. Plus

50% of collection charges subject to minimum Rs. 100 Besides, actual out of pocket expenses incurred be also recovered.plus

 

 Interest as given in Cir. No.HO/RMD/06/2012-13/95dt.12.05.2012

 Interest as given in Cir. No.HO/RMD/06/2012-13/95dt.12.05.2012

3.7

Fate Charges

Actual out of pocket expenses

3.8

Collection of Deposit receipts on maturity

A

Collection of Term Deposit issued by any branch of our bank and the proceeds invested in Term Deposit

NA

B

Collection of Term Deposit issued by any branch of our bank and the proceeds not invested in Term Deposit

NA

C

Collection of Term Deposit issued by other bank and the proceeds invested in Term Deposit with our bank Collection of Term Deposit issued by other bank and the proceeds invested in Term Deposit with our bank

No collection/ postage/ out of pocket charges + postage & other out of pocket expenses

D

Collection of Term Deposit issued other bank and the proceeds not invested in Term Deposit

Charges as applicable for Collection of outstation cheques+postage & other out of pocket expenses

E

Remittance of Proceeds of Term Deposits to any branch of the bank

No remittance charges

F

Remittance of Proceeds of Term Deposits to other banks (received on Collection)

Remittance Charges

G

Remittance of Proceeds of Term Deposits to other banks on maturity/premature

On maturity free on cost if remitted through electronic mode else in case of premature closure or remittance through draft applicable charges for Draft/ RTGS/NEFT

 

Notes:

Þ      In all cases, postage charges and other out of pocket expenses have to be recovered in full.

Þ      The rates as above shall be applicable to all types of bills for collection viz., Demand, Usance, Clean, Documentary bill, Supply bills etc., irrespective of whether drawn on local parties payable at outstation places in India, where we have a branch of the bank.

Þ      When the bills / cheques are to be collected through other banks, where we do not have our branch, in such cases, the charges should be shared with other collecting bank on 50:50 basis.

Þ      Sharing of commission means, the collecting bank and the realizing bank will share 50% each of the prescribed charges on cheque / bills.

Þ      Similar instructions would be applicable to other banks collecting cheques / bills through our branches if they do not have their branch at that cent?. However, postage, out of pocket expenses are to be recovered by each bank in full.

Þ      Dividend Warrants, Interest Warrants, refund Orders for amount up to Rs. 1000 are to be collected at par, even they are drawn on other banks and payable at outstation centres. Out of pocket expenses like postage etc, are to be recovered in full.

Þ      No collection charges should be levied on local cheques / drafts.

 

4      CASH HANDLING CHARGES

S.No

Item

A

Savings Bank Accounts

5 cash (deposit) transactions shall be allowed free of charge therof Rs. 25/-  transaction (except through ATM) shall be charged. {Excl. basic saving account}

(Applicable on Both base branch & Non Base branch)

Upto  Rs. 1 lac - Free (per day)

Above  Rs. 1 lac:- 10 paisa per piece

B

Current/ Cash Credit/ Overdraft and other accounts of Customers

(Applicable on Both base branch & Non Base branch)

Upto  Rs. 1 lac - Free (per day)

Above  Rs. 1 lac:-10 paisa per piece

Charges as above shall be levied for deposit of cash per day per account and are exclusive of Service Tax.

No Cash handling charges on amount deposited in Loan/NPA/suit filed accounts.

 

5      LOCKERS / SAFE CUSTODY

5.1

Locker Rent (Annual)

S.No

Size of the Locker

 

 

 

R/Semi-U

Urban/ Metro

A

Small

Rs. 800

Rs. 1000

(Face area upto 50 sq. inches)

B

Medium (Face Area  51 sq. inches to 100 sq. inches)

Rs. 1500

Rs. 2500

C

Large (face area 101 - 200 sq. inches)

Rs. 2500

Rs. 5000

D

Very Large (face area above 201-300 sq. inches)

Rs. 5000

Rs. 7500

E

Extra Large (face area above 300 sq inches)

Rs. 10000

Rs. 10000

*For staff-75% concession on applicable rent.

   

  For existing locker holder the revised locker rent will be applicable w.e.f  01/04/2017  as locker rent has already been recovered in advance for the period upto 31/03/2017.

  The new lockers will be allotted at revised rate after  adoption of revised service charges.

Concession in rent by in case of advance payment of rent

10% in case of advance payment of rent for three years in addition to the security deposit for timely realization of locker rent.

In addition to above, if a customer is a senior citizen and is maintaining quarterly average balance of Rs. 50000 and above can avail a discount of 10% on locker facility.

Concessions to Staff Members: Locker is permitted to be let out to staff/ to honorably retiring/ retired staff members of our bank at 75% of the normal rates. However, only one locker at the Bank level, shall be allotted to the staff members and honorably retiring/ retired staff members' at a concessional rate as above and if the members referred to above require another locker the same shall be let out at the full rates.

Penalty For Delayed Payment Of Locker Rent

1st Qtr -

10% of annual rent

2nd Qtr -

25% of annual rent

3rd Qtr -

40% of annual rent

1 Year -

50% of annual rent

For more than 1 year

Locker to be broken

Restriction On Number Of Operations

No. of locker visits per year-15 visits per year free; thereafter Rs. 100/- per visit.

Therefore, while issuing new lockeRs. the branches are advised to include the following clause in the locker lease register.

"I /We agree to pay Rs. 100/- per operation beyond 15 operations in a financial year"

Misc

Drill Opening:

Actuals + Rs. 500/- towards incidental charges

Duplicate Keys : Actuals + Rs. 500/- towards incidental charges

 

SECURITY DEPOSIT FOR TIMELY REALISATION OF LOCKER RENT

In respect of realization of locker rent the RBI guidelines provide as under:-

“The bank should not insist on Fixed Deposits as a prerequisite for allotment of Lockers

However, to ensure prompt payment of locker rent, branches may at the time of allotment

(of new Lockers only), obtain a Fixed Deposit which would adequately cover 3 years rent,

the prevalent charges levied by the manufacturer for breaking open of the locker and cost

of replacement of the Lock, in case of an eventuality.

 

Further the Locker Holders (existing & new ones) should be suitably informed, in advance,

about the rules for the Locker Operation particularly with regard to default in Payment of

Locker rent, non-operation of locker, guidelines regarding which have already been given in

detail vide Circular No. HO/ACT/ 2/2008-09/71 Date: 15.05.2008 

 

D. Refund of Locker Rent 

Minimum Period of Locker facility shall be One Year and in case of Surrender of Locker,

Refund of the Locker Rent, if any, shall be paid for the Complete Quarters left as on the

Date of Surrender of Locker, for which Locker Rent has already been received in advance e.g.

in case a Locker hirer has paid Locker Rent in advance say upto 31.03.2012 and Locker is

surrendered before the end of the quarter 30.09.2011, the Locker Rent refundable shall be

on pro rata basis for 2 Quarters i.e. for the Complete Quarters ending Dec. 11 and March 12.

 

 5.2 Safe custody charges (Authorized Branches Only)

       (Facility to be provided to existing Customers only)

Item

Charges

Folio opening Charges

Rs. 150/-

Scrips/ Security Papers

Rs. 25/- per scrip per annum. Minimum Rs. 100/-

Sealed cover

Rs. 200/- per cover per year or part thereof

Sealed boxes:

For boxes up to size 30cmX30cmX30cm = 9000 cc (one cubic feet)

Rs. 3000/- per annum

For bigger size

Rs. 400/- per cubic feet or part thereof per annum. Minimum Rs. 3500/-

Bank's own deposits Receipts

No charges

Duplicate keys of branch/other banks shall be exempted from charges

6.  Anywhere Banking Branch (ABB) Charges

RBI vide letter no DBOD.No.Dir.BC.26/13/13.03/2013-14 dated July 1, 2013 has advised banks not to discriminate  against their own customers on the basis of one branch being designated as the "home branch" where charges are not levied for products/services and other branches being referred to as the 'non-home' branches where charges are levied for same products/services. In order to ensure that the bank's customers are treated fairly and reasonably without any discrimination banks should follow a uniform, fair and transparent pricing policy. If a particular service is provided free at home branch, the same should be available free at non home branches also. There should be no discrimination as regards intersol charges between similar transactions done by customers at home branch and those done at non-home branches.

 

6.1 Cash Deposit/Withdrawal of Funds/ Transfer of Funds

  Amount

Charges

A. Cash Withdrawal at Non Base Branch    
Max. Permissible Amt.- Rs. 1. 00 lac per day    
Savings Bank account Maximum Rs. 1 Lac per day Free
Current/CC/OD Maximum Rs. 1 Lac per day Free

B. Third Party Withdrawals at Non Base Branch  Subject to certain conditions

Maximum Rs. 25000/- in Current and Savings Bank Account only.

Free

C. Cash Deposit at  non Base Branch

No limit

No Charges

D. Transfer of Funds (Non-cash txns. only)

Transfer of Funds (Non-cash txns. only)

I. Branches located within same clearing Zone

Free

ii. Branches located outside the clearing Zone (Savings/Current/CC/OD accounts only)

Free

D. Transfer of funds at third branch

No Charges

 However, transfer of funds between accounts, remittance (i.e issue of draft) at third branch is restricted up to Rs. 1 Lac only.

The cheques above Rs. 1 lac deposited at the third branch shall be collected in clearing.

E. Cheques Deposited for collection at non base branch

No charges on Cheques drawn on Branches located within local clearing area

Applicable Outstation Cheque Collection/ Speed Clearing charges  on Cheques drawn on Branches Outside local clearing area.

       

 

7. ATM Charges

 

 

VISA

VISA Gold

RUPAY

RUPAY Platinum

1

ATM /Debit Card issue charges

No Change

Rs. 100/- Registration fee,

Free

Rs. 150/- one time

2

Annual Fees for primary Card

SAME

Registration fee(Same), Annual Fee -Rs. 150

Same

Annual fee-Rs. 500 instead of Rs. 750

3

Add on Card

Same (As Applicable)

Issuance Charges Rs. 100/-,AMC charges Rs. 150/-

Issuance -Free, AMC Same

Issuance -Rs. 150/-, AMC -Rs. 500

4

Debit Card Replacement Charges

Rs. 200/-

5

Duplicate PIN/Regeneration of PIN through Branch

Rs. 50/- (for request through branch).

Nil (if done through Green Pin at ATMs)

6

 International Transactional Charges

6.1

Balance Enquiry  at ATMs

Rs. 25/- plus ST

6.2

ATM cash withdrawal transactions

All Countries (Rs. 50/- min + 3% of Txn. amt.) + ST

6.3

Point of Sale(PoS) /e-Com Txns

3% of transaction amount plus ST

7

Enhanced withdrawal Limit

Rs. 500 (For a period upto 6 months) & multiples thereof.

8

ATM card/KIT returned by courier due to wrong address

Rs. 50

9

Charges for issuance of ADD on card

Rs. 50

(In addition to charges mentioned in Point 1 & 2)

10

Transaction declined due to insufficient Balance

Rs. 10

11

For use of Bank's own ATMs located in Metro and Non-Metro Areas:-

Free for all type of Transactions for all locations.

  • Cash Withdrawal
  • Balance Inquiry
  • PIN Change
  • Mini Statement

12

For use of other Bank's ATMs located in Metro and Non-Metro Areas

Metro Areas

Non Metro Areas

free up to Maximum 3 Transactions/ Month

free up to Maximum 5 Transactions/ Month

  • Cash Withdrawal

Rs. 20/- Per Transaction

20/- Per Transaction

  • Balance Inquiry

 Rs. 9/- Per Transaction

 Rs. 9/- Per Transaction

  • PIN Change

 Rs. 9/- Per Transaction

 Rs. 9/- Per Transaction

  • Mini Statement

 Rs. 9/- Per Transaction

 Rs. 9/- Per Transaction

8.

SMS Alerts/Internet Banking

A

SMS Alert/Missed Call Banking Facilities

Rs. 25/- per half year

B

Internet Banking

Free

*Existing charges on account of Usage of other banks ATM shall be applicable to Staff also

9. AEPS/ Micro ATM/ IMPS

A.    Aadhaar Enabled Payment System (AEPS)

Transaction Type

Transaction description

Charges

AEPS ON-US/ Authentication

ON-US/ Authentication

Nil

 

Balance Enquiry

Rs. 5/- per successful transaction

AEPS OFF-US

Cash Deposit

1% of fund flow, subject to minimum Rs. 6/- with a maximum cap of Rs. 20/- per successful transaction

Cash Withdrawal

1% of fund flow, subject to minimum Rs. 6/- with a maximum cap of Rs. 20/- per successful transaction

 

Fund Transfer

1% of fund flow, subject to minimum Rs. 6/- with a maximum cap of Rs. 20/- per successful transaction

eKYC

eKYC

Nil

Demographic Authentication

Demographic Authentication

Nil

*No charges upto Rs. 1000/- for AEPS transaction

B.    Cash withdrawal transactions on Micro ATM using Card + PIN

 

Cash Withdrawal Amount

Per Transaction Charges

(Excluding Service & other applicable Taxes)

On- Us

Any

 

Off- Us

Upto Rs. 2,000/-

Rs. 2/-

(Inter Bank)

Rs. 2,000/- to Rs. 5,000/-

Rs. 5/-

 

Rs. 5,000/- to Rs. 10,000/-

Rs. 15/-

     

C.    Introduction of Charges on IMPS Fund Transfer

   

IMPS Funds Transfer

Charges

Inward

Nil

Outward

Transaction Upto Rs. 1000/-   Free

Transaction above Rs. 1000/- Rs. 5 + S.T.

In case customer use net banking/mobile/ATM then no charges applicable

           

 

10. Demat Charges

 

A) Individual & others

B) Pool A/c

C) Body Corporate

D)CM Benificiary / Sub broker  Beneficiary A/c

Statutory charges at the time of account opening

Nil

Nil

Nil

Nil

Advance/Deposit

Clients not maintaining SB/CA A/c Rs.5,000/-

Clients not maintaining SB/CA A/c Rs.5,000/-

Clients not maintaining SB/CA A/c Rs 5,000/-

Clients not maintaining SB/CA A/c Rs.5,000/-

Account Maintenance

Clients maintaining SB/CA - Rs.300,                          Clients not maintaining SB/CA A/c Rs.750/,    Password based Speede Rs. 500/-anually

Clients maintaining SB/CA A/c  NSDL-Rs.300/-
CDSL-RS.750/-                       Clients not maintaining SB/CA A/c
NSDL-Rs.750/-
CDSL-RS.1250/-

Clients maintaining SB/CA A/c  Rs.800/-                       Clients not maintaining SB/CA A/c
NSDL-Rs.1500/-
CDSL-RS.1250/-

Clients maintaining SB/CA A/c  NSDL-Rs.300/-
CDSL-RS.300/-                       Clients not maintaining SB/CA A/c
NSDL-Rs.500/-
CDSL-RS.1250/-

Demat

Rs. 35/- Plus Rs.2/- per certificate

-

Rs. 35/- Plus Rs.2/- per certificate

Rs. 35/- Plus Rs.2/- per certificate

Remat

Rs. 25/-per certificate or Rs.25 for every 100 securities or part thereof, whichever is higher

-

Rs. 25/-per certificate or Rs.25 for every 100 securities or part thereof, whichever is higher

Rs. 25/-per certificate or Rs.25 for every 100 securities or part thereof, whichever is higher

Transaction (Debit)

0.02% of value  Minimum Rs. 23/- Max Rs.5,000/-,  Online trading/Speede Rs15/-per txn where AMC is Annual (Debt market - 0.01% Minimum Rs. 23/-  Maximum Rs.200/-)

0.01% of Value ; Minimum of Rs.10/-

0.02% of value  Minimum Rs. 23/- Max Rs.5,000/-,  Online trading/Speede Rs15/-per txn where AMC is Annual(Debt market - 0.01% Minimum Rs. 23/-  Maximum Rs.200/-)

Rs. 13/- per instruction

Pledge Creation

Rs. 50/-
Lending Acceptance Rs. 50/-

-

Rs. 50/-
Lending Acceptance Rs. 50/-

Rs. 50/-
Lending Acceptance Rs. 50/-

Pledge Creation confirmation

Rs. 25/-
Lending Confirmation Rs. 25/-

-

Rs. 25/-
Lending Confirmation Rs. 25/-

Rs. 25/-
Lending Confirmation Rs. 25/-

Pledge Closure

Rs. 25/-

-

Rs. 25/-

Rs. 25/-

Pledge Closure confirmation

Rs. 25/-

-

Rs. 25/-

Rs. 25/-

Pledge Invocation

Rs. 25/-

-

Rs. 25/-

Rs. 25/-

Failed instruction charges

Rs.10/-

Rs.10/-

Rs.10/-

Rs.10/-

Other Charges

1) Ad-hoc TCH(per account per statement) Rs.50/- 2)KRA Charges Rs. 100/- plus Service Tax per PAN for existing as well as new customer will be applicable.
3)AMC for Speed-e                Token based for Individual Rs.1,300/-
4)Late Fee of Rs. 50/-                 

1) Intersettlement & CM Pool to Pool - 0.01% + NSDL charges (per ISIN)                                 2) Pay out / penalty - NSDL/CDSL/SEBI charges on Actual basis         3)Lending / Borrowing per transaction - Rs.50/- Borrower - Rs.25/- Lender 4)AMC for Speed-e                Token based Rs.1000/- per DSC
5)KRA Charges'100/- plus Service Tax per PAN for existing as well as new customer will be applicable.
6) As per CDSL, An Additional'500 /- per month for CM Pool accounts &'250/- per month for CM Principal towards Settlement
will be charged.
7)Late Fee of Rs. 50/-                 

1)Lending / Borrowing per transaction - Rs.50/- Borrower Rs.25/- Lender
2) AMC for Speed-e Token based Corporate Rs.1,500/- Password based Rs. 500/-
3)KRA Charges'100/- plus Service Tax per PAN for existing as well as new customer will be applicable.
4)Late Fee of Rs. 50/-                    

1)Lending / Borrowing per transaction - Rs.50/- Borrower - Rs.25/- Lender 2)AMC for Speed-e                Token based Rs. 1500/- per DSC (including DSC charged of Rs.1000/-)
3)KRA Charges'100/- plus Service Tax per PAN for existing as well as new customer will be applicable.
4) As per CDSL, An Additional'500 /- per month for CM Pool accounts &'250/- per month for CM Principal towards Settlement
will be charged.
5) Sub-brokers/CM-Beneficiary clients will be charged at the flat rate of '300/- per month to the account.
6)Late Fee of Rs. 50/-                 

 

 

Notes:

1)   AMC will be levied on pro-rata for the first year of opening the account. Annual AMC

shall be levied up-front during the month of April.

2)   Advance fees of Rs.5000/- to be deposited upfront which will be adjusted against the

future dues. In case the balance falls below Rs. 2000/- it shall be the responsibility of

Client to replenish the upfront amount so as to continue the service.

3)  NSDL/ CDSLCharges for Receipt-In/Pay-out and penalty charges levied by SEBI for

securities lying in pool A/c beyond stipulated period or any other charges will be charged on actual basis.

4)  All the reference prices will be based on NSE price (NSDLformula) BSE Price (CDSLformula)

and all charges payable monthly.

5)  Charges for listed demat services shall be raised at monthly intervals. Demat services

not listed above will be charged separately as per Bank's policy in the line with NSDL &

CDSL Depositories.

6)  Oriental Bank of Commerce reserves right to revise the rate structure from time to time by giving 30 days' notice.

7)  Service Tax as applicable would be levied.

Oriental Bank of Commerce -NSDL DP ID IN300020, IN301071, IN300804 & IN300837

and CDSL DP ID 14900

 

11. Concessions


11.1  Concession to banks/ agencies / societies

A      District R Development Agencies (DRDA), Farmers Co-operative Societies (Bank's own sponsored),

Primary Agricultural Societies (banking with our Bank) and Regional R Banks (Whether sponsored by Bank or not)

1.      Collection of Cheques = At Par

2.      Issue of Draft, MTs, TTs = At Par

3.      Ledger Foilio Charges = NIL 

 

B U Co-operative banks (maintaining accounts with our Bank)

1.      Issue of DD/MT/TT = 50% of usual charges

2.      Transfer of funds from the accounts from one centre to another:

Following charges as per RBI remittance facility scheme be levied:

For remittance up to Rs. 5000= 0.03% Minimum Rs. 0.25

For remittance over Rs. 5000 = 0.02% Minimum Rs. 1.50

The above concession should be allowed after coming to an understanding to share the charges i.e.

concession of 50% of the usual charges might be extended only to those captioned banks, which

maintain their accounts with our Bank. The condition should however be that the co-operative banks

must not pass on the benefit to their customer. The concessional facilities should be allowed only

after obtaining an undertaking from the co-operative banks that they would charge normal rates

as per the service charges prescribed to their customer.

 

C    Banks under Agency Arrangements

For any Agency arrangement, the viable proposals should be sent to General Manager (CS&P).

The agency agreement will be where DD Drawing arrangement, Fund/ Remittance/ Collection

arrangement etc. have to be entered into with other Banks/ Financial Institutions and which

involve Banking Services to be provided from branches located in more than one Region.

 

11.2     Concessions to religious welfare service, charitable institutions, institutions set up for the

benefit of blind, physically handicapped, disabled individuals (Subject to production of certificate

from income Tax department for the exemption from payment of Income Tax.)

1.         Collection of instruments = At Par

2.         Issue of Demand Drafts, MT's TT's = At Par

 

11.3     CONCESSIONS TO THE BLINDS, PHYSICALLY HANDICAPPED DISABLED INDIVIDUALS:

(To be allowed only after the Branch Incumbent confirms that the person is blind or handicapped)

1.         Collection of Instruments = At Par

2.         Issue of Demand Drafts, MT's TT's = At Par.

Note:  In case of Cash Payment by such category of persons, normal service charges be levied.

 

11.4   CONCESSION TO DEFENCE PERSONNEL IN ACTIVE SERVICE / EX-SERVICEMEN,

DEFENCE UNITS AND PARA MILITARY FORCES

(Who maintain Bank Account with us):

1.         Incidental charges on current account = Nil

2.         Standing instructions charges = Nil

3.         Collection of outstation Cheques - At par

4.         Remittances by DD's/ MT's/ TT's - At par

The next kin of the deceased soldiers will be allowed to collect at par the cheques representing

Ex-gratia from Regiments / units, payment of Terminal Credit Balance, Armed Forces Provident

Fund and Family Pension.

11.5. Customized Concessional Package of Banking Services for Indian Navy Employees as per

circular No. HO/MKT/FGB/2/2011-12/59 dt. 29.04.2011. Concessions to Army, air force personnel

be permitted as per guidelines circulated by Marketing Department from time to time.

11.6. CONCESSION TO GOVERNMENT DEPARTMENTS/ MINISTRIES/ DEPARTMENTS  OF STATE

GOVERNMENTS  INCLUDING, RAILWAYS, DEFENCE ETC.

1.         Issue of DD's MT's TT's - At par

2.         Collection of cheques - At par

3.         Collection of cheques issued by Govt. - At par

Authorities representing subsidy under IRDP and other special program

However, cheques drawn at centres where the agency banks do not have their branches and are

required to collect the cheques through some other scheduled bank/ co-operative bank, collecting

bank's commission shall be charged by the Agency bank.

 

11.7 CONCESSION ON DIRECT PAYMENT TO SUPPLIERS BY D.Ds WHILE DISBURSING

LOAN UNDER GOVT. SPNSORED SCHEMES

Issue of Demand Drafts -At Par

 

11.8     CONCESSION FOR PRIME MINISTER'S/ CHIEF MINISTER'S RELIEF FUND

Collection Of All Cheques Issued By Govt.                   

Of India / State Govts. in respect of grants

made from these funds.    

Remittance of funds in favour of Prime Minister's Relief Fund /Chief Minister's Relief Fund by

way of Demand Drafts/NEFT/RTGS or through internal transfer

 

11.9     CONCESSIONS TO PENSIONERS OF CENTRAL/ STATE GOVT AND ARMED FORCES:

Collection/ discount of Pension Cheques   -- No service charges.

 

11.10     CONCESSION TO SENIOR CITIZENS

1.          Senior Citizens shall be allowed 2 Remittances aggregating to Rs 10000/- per month free of charges.

2.          No minimum balance charges.

12. BUSINESS SUPPORTIVE CONCESSIONS

Service Charge consists of reimbursement of cost component of servicing and cushion as margin.

No transaction should be done when cost exceeds the benefit support of the account or there is a

direct outgo unless it is compensated by way of benefit support of the account. Such concessions

in cost component and margin will be treated as "Business Supportive Concessions".  Extending

concessions in service charges should be used as a marketing tool to garner new clients, who

would offer substantial demand deposit support besides additional fee based income as well

as to the existing customers with long standing satisfactory banking relationship.  In the above

backdrop, and in view of the feedback of the field functionaries, prevailing market scenario and

trends available in the peer Banks the field functionaries have been delegated discretionary powers

for disposal of proposals for concessions.

In case of immediate requirement to rationalize existing charges or to extend some business supportive

concession then the joint note by User Deptt and CS&P be placed before ED for approval

 

12. A.  GUIDELINES FOR EXTENDING RELAXATIONS / CONCESSIONS:

1. The concession should be allowed selectively after examining the merits and carrying out the Cost

Benefit Analysis (proforma enclosed) of each case and not in a routine manner. The concession allowed

shall be reviewed at regular intervals on the merit of each case.

2. The concession should be permitted where the business value of the account is high and / or there is

ancillary / fresh business accruing to the Bank. The conduct of the constituent's account must be

satisfactory in all respects.

3. Only one concession is available to any customer under any category of service. (Staff/ Senior Citizen etc).

4. The CMO shall record a note giving the reasons for allowing the concession and the permission granted

must be conveyed in writing to the branch.

5. A quantitative assessment of the benefit of deposit support for the past one-year period should be made.

Notional value of deposit should be calculated as given below:

 

For average current account balance 7 * (Current One year Fixed Deposit Rate)

*(May change from time to time.)

For average Savings Bank balance                    5.25% (Differential cost)

                                                                (7 - 4 =3)

For average Term Deposits                             No weightage

In accounts where a long-standing relationship has been established, the benefit of deposit support

for the past six month may be made.

6.     Interest on Time Deposits offered by our Bank is one of the most competitive among the Public

Sector Banks and therefore no weightage should be considered for Time deposits.

 

7.   100% of notional value assessed above be fixed as the maximum ceiling per annum for any concession

and 100% of notional value be converted into nominal terms for assessment of concessions.

8.   The average balance in Current account/ Savings Bank account should be calculated on the basis of

weekly balances and it should not be based on monthly/ quarterly balances. The data/ information about

average balances should be accurate and should be supported by a system generated resume / statement of accounts.

9.   All out-of-pocket expenses actually incurred should invariably be recovered.

10. Normally the sanctions should be valid for a period of one year.  However, in case of clients having past

dealings with the branch for less than a year or for new prospective clients, the validity period of the sanction

should not be more than 6 months. In such cases, the sanction should be reviewed by the appropriate

Competent Authority to sanction concessions in the light of past dealings and renewal should be done accordingly.

11. Branches should submit the proposal for seeking concession in Service Charges in duplicate as per format,

to the Competent Authority. The Competent Authority shall retransmit the duplicate along with the sanction details.

The office note-cum-sanction letter (enclosed) shall be preserved by the branch for verification by inspecting officials.

Further, Cost Benefit analysis may not be made mandatory and concessions may be permitted looking to the

value of the account/ connection and keeping in view the current market scenario. However, keeping profitability

aspect in view and for better monitoring, Cost Benefit analysis should be preferred before permitting concessions.

 

12.B. MONITORING & REPORTING

1.   Details of sanctions accorded by the CMO should be recorded properly as per the format (enclosed).

2.  Branches should maintain a separate register as per enclosed format to record the details of concessions

proposed and allowed to the customers by the CMO / Head Office.

3.   Branches should not extend concessions to clients in anticipation of sanction, as the CMO are not delegated

with authority to post facto sanction the concessions.

4.  In case concessions are sanctioned by the CMO / Head Office on the basis of assured business, the branches

should ensure that the stipulated business is generated from the client.  The CMO should call for the details

of additional business garnered by the branches in all such cases within a month of sanction.

5.  Extending concession to any client without sanction/ in anticipation of sanction/ under lapsed sanction/ beyond

the maximum ceiling stipulated in the sanction/ beyond the percent rate of sanction will be considered as slippage

of income except in case of concession up to 50% of normal charges for funds remittance only in deserving cases,

for which proposal/s has / have been sent to the Competent Authority. (Applicable only in case of branches)

6.  If the concessions are to be extended at multiple locations, the parent branch shall allocate and monitor

branch wise sub-limits of sanction and shall ensure that the total concession extended at all branches is within

the overall limit stipulated.

7.  Concessions sanctioned to the clients are worked out on the basis of their average demand deposits with

the Bank.  Branches should review the average demand deposits of the beneficiary clients every quarter.

In case the demand deposits of these clients fall below the level mentioned in the proposal/ sanction, the

concerned branches should either ensure inflow of the required demand deposits from the client or else should

seek fresh modification in the sanction order from the Competent Authority / CMO.

8.  The cost benefit analysis as per the format enclosed shall be done separately and shall form the part of

sanction. It may, however, be not made mandatory and concessions may be permitted looking to the value

of the account/ connection and keeping in view the current market scenario.

9. The competent authority shall ensure that the intimation regarding sanction of concessions in service

charges is conveyed to the respective branch within reasonable time, which must not exceed three working

days from the date of receipt of such proposals.

 

12. C. INSPECTION 

The officials from Inspection & Control Department / Regional Inspectorate/ Concurrent Auditors /

Revenue Auditors shall inspect / comment on the following records at the branches / CMO Offices.

§     Register of tariff concession sanctions maintained at the CMO Office.

§     Register of tariff concessions extended maintained at the branches.

§     Deficiencies in the proposals and processing thereof.

§     Slippage of income detected due to concessions granted without authority/ without sanction / under

lapsed sanctions/ beyond stipulated maximum ceilings.

§     Fall in average demand deposits/ lesser inflow of assured demand deposits.

 

12.D REVENUE LEAKAGE

The cases/ instances of revenue leakage / slippage are reported in the revenue audit / Inspection reports

conducted by the Inspection & Control Department / Regional Inspectorate/ Concurrent Auditors / Revenue audito?

This exercise is undertaken on yearly basis to ensure that the branch's income and expenditure depict the true

and correct position and there is no leakage of revenue or over charging of expenditure In respect of reported

cases of revenue leakage in service charges, such as commission on drafts / Bills and incidental charges, and

their disposal by the Competent Authority, matters are referred to Inspection & Control Department at Head Office.

Branches should ensure that proposals related to waivement of reported cases of revenue leakage in service

charges are reported to and routed through the Inspection & Control Department Head Office only.

 

The following authorities have been delegated to allow/ permit/ approve concessions in Service charges,

as detailed below:

 

S.No.

Service

*Powers of CMO

*Powers of Branch Incumbent

1.

Fund Remittance

100%

50%

2.

Collection Charges - Cheques/ Bills ((Non-borrowal accounts, Cheques drawn by     Govt./ Govt. Procurement Agencies in Non as well as Borrowal Accounts of Commission Agents)

 

100%

 

 

 

 

Nil

 

 

3.

Cash Handling Charges

100%

Nil

4.

Charges for Non-maintenance of Minimum Balance (in salary accounts only to permanent employees of the Govt. Departments/ State Undertakings and establishments/ organizations etc. Salary accounts of Teachers/employees of reputed educational Institutions, establishment, organization etc., whether or not the account of the department/ undertaking/institution/organization is maintained in the bank.)

 

 

 

100%

 

 

 

 

 

 

 

 

 

 

Nil

 

 

 

 

 

 

 

5.

Incidental Charges

100%

Nil

6.

Issue of Multicity/ MICR cheques

100%

 

Nil

7.

Other Service Charges

50%

Nil

8.

ABB Charges

N.A.

100%

 

NOTE:

§     In case of collection of outstation instrument/s, collection charges deducted from the proceeds or

otherwise claimed by the collecting bank, the same shall have to be recovered from the depositor

§     In case of all fresh cases of concessions in service charges not covered elsewhere to be proposed

for approval in the future, the matter shall be referred to the respective vertical head at Head Office,

viz. For Deposit accounts Branch Business, credit related proposals to Credit administration Dept.

and Foreign Exchange related matters to IBD.

§     For at par facility of payment of Cheques issued/ drawn by the Clients, with funds being maintained

by the client at the Main Branch, at notified branches where two or more CMO are involved, viable Proposals

may be sent to the Corporate Strategy & Planning Department, Head Office, for consideration by the

GM (CS&P) at Head Office.

 

*The CMO/ Branch Incumbents shall exercise their powers for waiver in case of Valuable Accounts,

keeping in view the Market Scenario and merit of each case.

The CMO shall have powers for providing Concessions upto 100% level in Deposit Accounts of Govt.

Departments/ Ministries/ Departments of State Govt./ Central Govt. including Railways, Defence etc.

and salary accounts of the teachers/ employees of reputed educational institutions, establishments /organizations etc.

 

General Conditions:

a) Collection Charges deducted from the proceeds or otherwise claimed by the collecting Bank,

have to be recovered from the Depositor/ Party).

b) All the above concessions upto 100% shall be decided by the CMO on case-to-case basis

and on merits of each case, and

c) As regards Borrowal Accounts, field functionaries may be guided by instructions in this regard being

issued separately by the Credit Administration Deptt., Head Office.

 

Power for 100% Concessions in Other Service Charges

In case of proposals for concession in Other Service Charges beyond 50%, CMO shall send their

recommendations as per prescribed procedure to respective vertical head at Head Office for approval.

NOTE: All designated functionaries shall inform the concessions approved/allowed to the next higher

authority for information on quarterly basis.

Further, CMO shall ensure that business linked concessions upto 100% of the Collection Charges

are allowed in Non-borrowal or Borrowal Accounts for the Collection of Cheques issued by the

Govt./ Govt. Procurement Agencies only (viz. FCI, MARKFED, PUNSUP, HAFED etc) in the Accounts

of Commission Agents/ Grain Traders on case to case basis and on merits of each case and accordingly

decide the level of Concession for each case. While deciding concession in such cases it may be

looked that the same is provided in lieu of procurement of substantial demand deposits, borrowal

account of the Commission Agent is regular and in order, Cheques meant for the concession are drawn

by the Govt./ Govt. Procurement Agencies only, "Out of Pocket" expenses are to be recovered in full,

Facility is reviewed for renewal as per guidelines in vogue and renewal decided accordingly and Other

terms/ guidelines as applicable to such proposals/approvals are duly adhered to.

 

ORIENTAL BANK OF COMMERCE

Head Office, New Delhi

Office Note - cum- Sanction Letter

Concessions in Service Charges

CMO

Particulars

 

Branch

 

CMO

 

Constituent's Name

 

CA

SB

TD

Date of Opening of Accounts

 

Business of the Client

 

Details of Credit Facilities

 

Conduct of Account

 

Average Credit Balance maintained in

 

CA

Rs.

SB

Rs.

Concessions in Service Charges asked for

 

 

Instruments

Amount

Remittance

 

 

Collection

 

 

Others

 

Normal Rate

 

Concessional Rate

 

Validity of the facility

 

 

Branch Manager                        Recommending Authority                          Sanctioning Authority

COST BENEFIT ANALYSIS FOR CONCESSION (IN DEPOSIT ACCOUNTS ONLY)

 

Name of the Branch                                                      

Name of the CMO                                            

Name and address of the depositor (s)                         

Whether enjoying any credit facility       

excluding Demand Deposit against Deposit Receipts

If yes, the type and nature of the credit facility               

 

Credit Sanctioning Authority                                                       Branch Manager/ CMO/ Head Office

 

1.     Costs (six months Operations)

Type

Remittance per year

Income at normal rate(Rs.)

(A)

Income at concessional rate (Rs)

(B)

Remarks

No. of Instruments

Amount

Demand Drafts

 

 

 

 

 

Other remittances

 

 

 

 

 

Collection of Cheques

 

 

 

 

 

Other Service Charges

 

 

 

 

 

Total

 

 

 

 

 

Loss on account of Concessions (C ) = (A) - (B) =

2.     Benefit

Type

Amount

Average balance

Weightage

(D)

100% of column D

(E)

Remarks

Current Account

 

 

 

 

Savings Bank Account

 

 

 

 

Total

 

 

 

 

 

Net Benefit (F) = (E) - ( C ) =

If the net benefit is negative than the concessions cannot be extended.

In case of Loan accounts all concessions should be factored while sanctioning/ reviewing/ renewing /

fixing rate of interest. 

EXAMPLE

Name of the Branch

Name of the CMO

Name and address of the depositor (s) - XYZ

Whether enjoying any credit facility

excluding Demand Deposit against Deposit Receipts - No.

If yes, the type and nature of the credit facility - NA

Credit Sanctioning Authority - NA

 

Costs

Type

Remittance per year

Income at normal rate (Rs. )

(A)

Income at concessional rate (Rs)

(B)

Remarks

No. of Instruments

Amount

Demand Drafts

40

20,00,000

Rs. 4000

(Rs. 2 per Rs. 1000/)

2000 @50% of A

 

Other remittances

 

 

 

 

 

Collection of Cheques

 

 

 

 

 

Other Service Charges

 

 

 

 

 

Total

40

20,00,000

Rs. 4000

Rs. 2000

 

Loss on account of Concessions (C ) = (A) - (B) 4000-2000=2000

Benefit

Type

Amount

Average balance

Weightage

(D)

100% of column D

(E)

Remarks

Current Account

Rs. 25000

9.25% (One year Fixed Deposits Rate) May change from time to time

2312.50

 

Savings Bank Account

Rs. 30000

5.25% (Differential Cost)

1575

 

Term Deposit

Rs. 3,00,000

NIL

NIL

 

Total

 

 

3887.50

 

Net Benefit (F) = (E) - ( C ) 3887.50-2000=1887.50

Result= In this case, the client may be accorded 50% concession in 40 remittance in a year for a turnover

of Rs. 20,00,000/-.

 

If the net benefit is negative than the concessions cannot be extended. 

 

EXAMPLE

Name of the Branch

Name of the CMO

Name and address of the depositor (s)  - XYZ

Whether enjoying any credit facility

excluding Demand Deposit against Deposit Receipts - No/

If yes, the type and nature of the credit facility                                                                                                                                                                                       

Credit Sanctioning Authority - NA

Costs

Type

Remittance per year

Income at normal rate (Rs. )

(A)

Income at concessional rate (Rs)

(B)

Remarks

No. of Instruments

Amount

Demand Drafts

 

24

 

2,40,000

Rs. 960

(Rs. 40 per instrument

480 @50% of A

 

Other remittances

 

 

 

 

 

Collection of Cheques

12

3,00,000

Rs. 1500

(Rs. 125 per instrument

750 @50% of A

 

Other Service Charges

 

 

 

 

 

Total

 

 

Rs. 2460

Rs. 1230

 

 

Loss on account of Concessions (C ) = (A) - (B) 2460-1230=1230

Benefit

Type

Amount

Average balance

Weightage

(D)

100% of column D

(E)

Remarks

Current Account

 

8.75% (One year Fixed Deposits Rate) May change from time to time

 

 

Savings Bank Account

Rs. 50000

4.75% (Differential Cost)

2375

 

Term Deposit

 

NIL

NIL

 

Total

 

 

2375

 

 

Net Benefit (F) = (E) - ( C ) 2375-1230=1145

Result= In this case, the client may be accorded 50% concession in 24 remittance in a year for a turnover

of Rs. 2,40,000/- and 12 instruments for collection.

If the net benefit is negative than the concessions cannot be extended. 

 

SERVICE CHARGES REGISTER - CMO

CONTROL REPORT ON DISCRETION EXERCISED DURING THE MONTH OF 2013

 

Sl No.

Date

Name of the Branch

Name of the depositor(s)

Nature of Service Charges

Transaction amount(Rs.)

Normal Rate(Rs.)

Rate charges(Rs.)

Rational / Reason

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

SERVICE CHARGES REGISTER - BRANCH 

REPORT ON PROPOSALS FOR CONCESSION IN SERVICE CHARGES SENT TO CMO DURING THE MONTH OF 2013

 

Sl No.

Date

Name of the depositor(s)

Nature of Service Charges

Transaction amount (Rs.)

Normal Rate (Rs.)

Rate charges (Rs.)

Rational / Reason

Date of confirmation received