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PBU-MARKETING AND CROSS SELLING. Sl. No. : 171/2009 - 10 Circular No. : NBG/PBU/MCS-MCS/1/2009 10 Tuesday,June 23,2009. . MASTER CIRCULAR MARKETING - CROSS SELLING
STATE BANK OF INDIA MARKETING - CROSS SELLING DEPARTMENT CORPORATE CENTRE MUMBAI
Master Circular No. MCS/03/09-10/01
All the Branches/LHOs
MASTER CIRCULAR MARKETING - CROSS SELLING
We have, periodically, issued instructions to Branches/LHOs and other establishments with regard to instructions on the captioned subject. To enable to have current instructions at one place, a Master Circular incorporating all the existing guidelines/instructions/directives have been prepared and is appended. We advise that this Master Circular consolidates all the previous instructions issued by us from time to time, which are listed in the Appendix.
Yours faithfully, Sd/General Manager
INDEX S. No. Subreference No. Description Page No. 5 7 7 7 8 8 8
1 2 1 2 3 1 2
3 4 5 6 7 8.a 8.b 9 10
11 4 1 2 3 4 5 6 7
Introduction Structure of Marketing- Cross Selling Department at Corporate Centre at Local Head Office Life Insurance Corporate Agent :Tie-up with SBI Life Insurance Co. Identification ,Training (including on-line Training) and Certification as Certified Insurance Facilitator (CIF) Scheme for Payment of Honorarium Delisting of CIFs Movement of CIFs Cross Selling by Employees under Suspension Types of life insurance products of SBI Life Insurance Co., marketed by Branches Advertisement and Publicity of life insurance products Local Printing of Pamphlets/Advertisements Remittance of Premium at Par to SBI Life Insurance Co. Remittance of Premium through EFT Facility for Remittance of First Premium under Group Swadhan and Renewal Premium of Individual Products Anti Money Laundering & KYC Guidelines Mutual Funds Selection, Training and Certification as AMFI Certified Employee Procedure for obtaining Registration Scheme for Reimbursement of Examination fees and Payment of Honorarium Code of Conduct for AMFI Certified Employees Tie-up with SBI MF Tie-up with UTI MF Tie-up with Tata MF
12 12 13 13 13 13 14 14 15
26 52 52 53 62 63 66 67 77
2002.8 9 10 5 1 2 3 4 6 1 7 1 2 3 4 5 4 Tie-up with Franklin Templeton MF Tie-up with Fidelity MF Anti Money Laundering & KYC guidelines General Insurance Tie-up with New India Assurance Co. Role Sheet of Chief Managers / Asst. General Managers (Cross Selling) in the Circles Code of Conduct for Certified Insurance Facilitators (CIFs) and Specified Persons (SPs) Sharing of Customer Information 83 89 95 162 164 165 172 173 174 174 175 175 176 184 188 192 . Insurance Regulatory and Development Authority (Protection of Policyholders’ Interests) Regulations. Scale of commission Training and Certification as Specified Person Scheme for Reimbursement of Examination fees and Payment of Honorarium Credit Cards Helpline Miscellaneous Accounting System for booking of fee/commission/brokerage with BGL and CGL Nos.
vide Corporate Centre letter no MCS/08-09/04 dated 17th April 2008. related vendors and dealers.5 Chapter 1 Introduction Marketing . vis-à-vis the potential.. and Credit Card products of SBI Card In April 2008. life and cards business.. select mutual fund products of SBI Mutual Fund and short listed third party mutual funds. along with or through the assistance of the Relationship Manager of the CAG branch/office. as follows: With the objective of further growing the cross selling business and fee based income at our branches we are to leverage the banks connections with the various CAG/MCG/large SME units to establish/increase cross sell of our retail PB products as well as para-banking products like life insurance. select general insurance products of New India Assurance Co. This would also make the bank/branch a one stop source of financial services/investment products. to explore the opportunities and pursue booking retail banking and para banking business of the Units. Ltd. employees. we would like to be advised of specific details as noted below with particulars of business remaining to be tapped or receiving attention. Life insurance products of SBI Life Insurance Co. cross selling was formally extended to cover units in Corporate Accounts Group and Mid-Corporate Group. support of appropriate SBI Mutual Fund. 3………………………………. 4. SBI Life and SBI Card personnel should invariably be sought while making presentations for mutual fund. Formatted: Bullets and Numbering . We shall be glad if the Branch Manager of the nearest Retail Branch and a CIF/ACE calls upon the owners/promoters/Finance Head of the Unit. mutual fund and credit card products to constituents of these units. 2………………………………. owners / promoters. thereby contributing to the allimportant matter of customer loyalty/stickiness. Assistance.. viz. general insurance. directors. In cases where retail/para banking business is already garnered. It shall be the responsibility of the PB Business Head and Relationship Manager (CAG) as also the Chief Manager (Cross Selling) who should closely follow up for booking of the business.Cross Selling Department was created in January 2003 to boost non interest income of the branches in National Banking Group by cross selling: 1.
of Personal Loan Proposals sourced and sanctioned Particulars of business with our competitors . of Vehicle Loan Proposals sourced and sanctioned No. of A/Cs opened No. other insurance proposals (keyman . cash in transit etc.6 5. Total no. fidelity guarantee . fire . motor. Please monitor the progress made. New India Assurance Co. of Housing Loan Proposals sourced and sanctioned No. mediclaim . also keeping us advised: Name of the Unit Person(s) contacted with Designation and Phone no..) sourced and premium garnered No of SBI Credit Card applications sourced No. of life insurance proposals sourced and premium garnered No. on the following lines. of employees in the unit No. accident . of Mutual fund applications sourced and amount garnered Alongwith the focus for the usual general insurance cover for the assets owned and financed through our tie-up partner.
Managing Director & Group Executive (National Banking) General Manager (Marketing Cross Selling) Dy. General Manager/Chief Manager (Marketing Cross Selling) Asst. General Manager/Chief Manager (Marketing Cross Selling) Structure of Marketing . General Manager (Marketing Cross Selling) Asst.Cross Selling Department at Local Head Office Chief General Manager General Manager (Network I) General Manager (Network II) Asst.Cross Selling Department at Corporate Centre Dy.7 Chapter 2 Structure of Marketing . General Manager/Chief Manager (Marketing Cross Selling) Asst. General Manager/ Chief Manager (Marketing Cross Selling) .
2.. Identification. willing to undergo training and certification for selling life insurance products of SBI Life Insurance Co. Life . interested in marketing of life insurance products of SBI Insurance Co. for procuring or soliciting life insurance business. The license has been issued under the Insurance Act 1938 (IV of 1938). in terms of Insurance Regulatory and Development Authority’s License No.8 Chapter 3 1. Training (including on-line Training) and Certification as Certified Insurance Facilitator (CIF) Identification ( Reference: P & HRD letter no. from those employees who are : below 50 years of age having the minimum a) qualification of a pass in 12th Standard or equivalent examination conducted by any recognised Board/Institution. Corporate Agent ---Tie-up with SBI Life Insurance Co. and a pass in 10th Standard or equivalent examination from a recognised Board/ Institution if the applicant resides in any other place. In terms of Insurance Regulatory and Development Authority (Licensing of Corporate Agents) regulations 2002 State Bank of India is authorised to act as a Corporate Agent of SBI Life Insurance Co. where the applicant resides in a place with a population of five thousand or more as per the last census. is as under: o Options will be called for. CDO/PM/16/SPL/1403 dated 10th December 2002 to all Circles) The procedure for identifying the staff. for a period of three years from 19/02/2006. 1046513.
o The employee found well mannered. B) Training: An employee shall have completed. o The employees who opt for marketing of life insurance products of SBI Life Insurance Co. an Associate/Fellow of the Institute of Chartered Accountants of India. and visit prospective life insurance buyers. New Delhi. New Delhi. an Associate/Fellow of the Institute of Company Secretaries of India. interfacing with clients and developing new business and having a high degree of service orientation will be identified by the Committee for the IRDA prescribed training. and AGM/Chief Manager (Cross Selling) of the Network. . they should be willing to work beyond office hours. Mumbai. at times . be utilised by the Bank for any other function at the Branch. if necessary.9 While asking for option it should be made clear to the employees that though the identified staff will primarily be responsible for insurance selling activity. Calcutta. an Associate/Fellow of the Institute of Costs and Works Accountants of India. fifty hours’ practical training conducted by SBI Life Insurance Co. of pleasing dispensation for and possessing aptitude marketing products. their services may.. will be interviewed by a Committee consisting of the Asst. at least. a representative of SBI Life Insurance Co. whenever required. General Manager of the concerned Region (Chairman of the Committee). Where the employee is--(ii) (iii) (iv) (v) an Associate/Fellow of the Insurance Institute of India. Further.
11. 400/600 per candidate who is CAIIB/non-CAIIB respectively. (b) The employees sponsored by SBI Life Insurance Co.10 an Associate/Fellow of the Actuarial Society of India. or (viii) possessing Certified Associateship of Indian Institute of Bankers (CAIIB). or (ix) possessing any professional qualification in marketing from any Institution/ University recognised by any State Government or the Central Government-(vi) He/She shall have completed. currently) Any other institute approved by IRDA to conduct on line training will be added to the list by SBI Life Insurance Co. at least. can enlist for the on line training at any one of the following IRDA accredited On-Line training Institutions which host the portals: (c) RNIS College of Insurance. (vii) a Master of Business Administration of any Institution/ University recognised by any State Government or the Central Government. for sponsorship. For this purpose the online training application form to be provided by SBI Life Insurance Co. and the updated list will be available with the local Coordinator of SBI Life Insurance Co. may approach SBI Life Insurance Co. Pune (Rate 400/650 per candidate who is CAIIB/non-CAIIB respectively. Online Training (vide Circular No. .2005) (a) Any Officer or Assistant. who wishes to enlist for the on-line training. Delhi (Rate Rs. twenty five hours’ practical training from an approved institution. currently) (d) Maharashtra Institute of Technology.. (e) The sponsored staff will be expected to complete the online 50/25 hours mandatory IRDA training at the centre of their posting. Mumbai. may be completed by the candidate and his reporting authority and forwarded to Co-ordinator of SBI Life Insurance Co. PBBU/MCS/05-06/3 dated 24. stationed at the Local Head Office Centre alongwith the requisite fee.
5000/= (which includes internet charges.insuranceinstituteofindia. outside office hours. as is being done presently. (j) The on-line examination centres of III are available on the website of Insurance Institute of India---www. The maximum time permissible for completion of training is 14 days. training fees and examination fees) on production of simple declaration for having incurred the expenses. Commission will accrue to the branches. a copy of the training certificate and CIF licence. (i) The examining body is the Insurance Institute of India (III). training duration will be for 50 hours’ training with a maximum of 8 hours per day. m. For claiming the reimbursement the CIF should approach the nearest representative of SBI Life Insurance Co. the training duration is 25 hours to be completed in 8 days. l. Ltd. by SBI Life. (h) The staff volunteering for training will not use the Branch Infrastructure and would complete their On-Line Training at the nearest Cyber Café or at their own residences on their personal PCs. in a lump sum amount of Rs. On successful completion of the course and obtention of the CIF certification by the staff member. (g) Sponsored candidates will be given a password to access the specific portal of these on-line training institutes who will cover the syllabus prescribed by IRDA.com training during his/her 'Free (k) For candidates who are not CAIIB.11 (f) The sponsored staff will undergo Time' i.e.. No other allowances shall be payable to the staff for visiting the On Line training institutes or proceeding for appearing in the test/interviews etc. On acquiring the license. . k. the CIFs may commence marketing for proposals during their 'Free Time' and need not be released full time. For candidates who are CAIIB. the entire cost shall be reimbursed to him/her. who will in turn send the same to SBI Life Head Office for reimbursement. j) The cost of on-line training and examination shall be initially borne by the staff member.
400/.in favour of Insurance Institute of India payable at Mumbai Online Exam Fees: DD of Rs.in favour of NSE.12 Offline Exam Fees: DD of Rs.500/.in favour of Insurance Institute of India payable at Mumbai / Bangalore (if a candidate appears at Insurance Institute of India centers at Mumbai & Bangalore) .400/.IT centers in India as per the list enclosed) Online Exam Fees: DD of Rs.IT Limited payable at Mumbai (if a candidate appears at NSE.
Delisting of CIFs (CC letter no.13 Online Examination centres: Ahmedabad Allahabad Bangalore Bhopal Bhubaneshwar-Cuttack Chandigarh Chennai Cochin Coimbatore Dehradun Delhi Hyderabad Indore Jaipur Jalandhar Kanpur Kolkata Madurai Meerut Mumbai Nagpur Noida Pune Rajkot Surat Thiruvananthapuram C. conducted by the Insurance Institute of India. so that they do not remain in the list of branch CIFs. 2007) The honorarium payable on obtaining certification as Corporate Insurance Executive is Rs. .5000/.(Rupees five thousand only). Certification: The examining body shall issue a certificate to every successful employee. 4. 3. No. the employee is required to pass the pre-recruitment examination in life insurance business. Scheme for Payment of Honorarium (Vide e-circular no. Examination: After completion of off-line/ on-line training. P&HRD. or any other examination body duly recognised by the Insurance Regulatory and Development Authority. : 267/2007 – 08 Circular No. Mumbai.Sl. MCS/07-08/43 dated 7th August 2007) A review of the productivity of CIFs should be undertaken and any CIF who has not sold at least five policies during the year may be delisted.08 dated August 11. Such a review will enable the Circle management to focus better on the performance of the productive CIFs and to initiate training of more willing employees for Certification. D. : CDO/P&HRD-LANDD/23/2007. which shall enable him to procure insurance business on behalf of the Bank.
8. ( CC letter no. Types of life insurance products of SBI Life Insurance Co. . 2000 dated 14th July 2000] Advertisements by insurance agents — (1) Every advertisement by an insurance agent that affects an insurer must be approved by the insurer in writing prior to its issue. (2) It shall be the responsibility of the insurer while granting such approval to ensure that all advertisements that pertain to the company or its products or performance comply with these regulations and are not deceptive or misleading. be transferred only to branches/offices at the same centre which have been identified for selling products of SBI Life Insurance Co..5. Movement of CIFs (IR Deptt. the Senior/ Special Assistants appointed as Certified Insurance Facilitators (CIFs). 14 letter nos. Cross Selling by Employees under Suspension Employees under suspension are not to be entrusted any official duties. The position in such cases will be reviewed by controllers every year. They will be replaced by CIFs only. when due for transfer under 5 year transfer policy. CDO/IR/SPL/133 dated 25th September 2004 and CDO/IR/SPL/261 dated 10th September 2004) With a view to providing uninterrupted service to customers who have availed of life insurance products of SBI Life Insurance Co. PBBU/MCS/06-07/45 dated 21st/25th July 2006) 7. there is no identified /authorised branch/office available at the same centre.(a)Advertisement and Publicity of life insurance products [vide Insurance Regulatory and Development Authority (Insurance Advertisements and Disclosure) Regulations. The total stay however will not exceed 3 years from the date the employee gets accredited as CIF. In case. 6. they may be retained at the same branch and used for marketing of products of SBI Life Insurance Co. from identified/authorised branches. marketed by branches ………………………………………………………………………………………….
2000 dated 14th July 2000. Further.2003) SBI Life has launched its Group Product. Subsequently. Branches/ CIFs should not prepare and circulate any sales communication without obtaining a confirmation from Corporate Centre. and phone number. capital protection and comparison of returns in various schemes of rival insurance companies. Hence a draft of the advertisement/pamphlet should be forwarded to Corporate Centre. and select Branches have been enrolling account holders under the Group Insurance Scheme. Remittance of Premium at Par to SBI Life Insurance Co.2007 and PBBU/MCS/06-07/195 dated 06. in advance. and ii) advertisements that consist only of simple and correct statements describing the availability of lines of insurance. logo.2006) Insurance advertisements fall under the purview of IRDA Insurance Advertisements and Disclosure Regulations. implicit or explicit. in May 2002. but making no reference to specific policies. 8(b) Local Printing of Pamphlets/Advertisements (CC letter nos. with the launch of Bancassurance.07. (vide CC letter no. identified branches have commenced selling individual products of SBI Life . our Branches have also started offering Creditor Protection Products like Home Loan Insurance and Car Loan Insurance of SBI Life. references to experience. MCS/03-04/25 dated 04. before placing the print order to ensure adherence to the notified mandatory guidelines. Circulation of written or published information relating to returns.12. costs or insurers. Super Suraksha for Account holders. 9. service and qualifications of agents. generic advertisements limited to information like the agent's name.15 Explanation: An agent shall not be required to obtain written approval of the company prior to issue for: — (i) those advertisements developed by the insurer and provided to the agents. benefits. MCS/0708/140 dated 18. is prohibited by the Insurance Regulatory and Development Authority.06. address.
branches are required to remit the premium collected from the customer by way of a draft to SBI Life Insurance Co. The second copy is retained as the voucher of the branch and the third is attached to the proposal form for onward submission to SBI Life Insurance Co. has introduced the option of paying the first premium of Group Swadhan and for payment of SBI Life’s renewal premiums of individual policies (excluding Lifelong Pension and Top-up amount of ULIPs) for the Bancassurance channel through Electronic Fund Transfer (EFT) mode of Core Banking platform. 2. After the transaction is put through.MCS/Cir/08-09/04 dated 8th August 2008 and MCS/0809/05 dated 10th October 2008 ) To reduce turn around time (TAT) for issuing certificates of insurance and make available to customer another convenient option of paying premium of SBI Life. 2. In all these cases. at Mumbai. The pay-in-slip (challan) is designed to provide three copies. where receipt of payment is issued simultaneously. the first copy of the challan is handed over to the customer as receipt. . SBI Life has proposed that such drafts should be issued without deduction of exchange.16 like Sudarshan and Lifelong Pension through selected employees who have undergone insurance training and passed the mandatory test. The new facility requires the customer to fill up a specially designed pay-in slip (challan) along with a cheque for payment from the customer’s account (copy enclosed). (b) Remittance of Premium through EFT Facility for Remittance of First Premium and Renewal Premium ( vide Circulars No. SBI Life Insurance Co. Ltd.
The process flow will be as follows: A 3-part challan MUST be filled by the policyholder. after which the premiums will have to be remitted to SBI Life Office directly. This is another step in improving the Customer Service. Cash Direct Debit through voucher [available only if holding SBI A/c] Direct Debit through SBI Cheque [available only if holding SBI A/c] By other Banks’ Local Cheque (System provision is available for other bank local cheques also. the policy no. PROCESS Policyholder comes to SBI branch for payment of Renewal Premium under his SBI Life policy.17 OPERATIONAL PROCEDURE for COLLECTION PREMIUM OF SBI LIFE POLICIES by SBI BRANCHES BACKGROUND SBI Life offers its valued customers yet another mode for renewal premium payments utilizing the vast network of SBI Core Banking System. must be written on the challan Mode of payment to be selected – [cash / Direct Debit through voucher / Direct Debit through SBI Cheque] Formatted: Bullets and Numbering Formatted: Bullets and Numbering Formatted: Bullets and Numbering OF RENEWAL . step by step guide. making the reach for SBI Life customers far & wide. This facility has been exclusively developed by SBI Life in close cooperation and active involvement of SBI Global IT. However we will roll out this service at a later stage) Currently. Customers of SBI Life can use this facility at any SBI CBS branch. This process circular intends to give a detailed. giving the details such as – Name of policyholder Type of payment – [Group Swadhan First Premium (FP) / Individual Renewal Premium(RP) / Individual First Premium (FP)] In case of Individual RP. for better understanding of the process of COLLECTION OF RENEWAL PREMIUM OF SBI LIFE POLICIES by SBI BRANCHES PARAMETERS Through the EFT module integrated in the core-banking module of SBI. the policyholder of SBI Life will be able to pay his renewal premiums by 4 different modes – viz. this facility will be available for Inforce policies and only up to 11 days (in case of monthly mode) & 25 days (for Quarterly/half yearly/yearly mode) from the premium due date.
. as required need to be entered by the bank staff. the cheque details such as Cheque no. along with the duly filled challan should be submitted at the SBI counter Data Entry in the Bank module – Separate options have been provided in SBI’s Core Banking module for acceptance of SBI Life’s Premiums.18 In case of Direct Debit through voucher. The sequence is given below – Bank Staff have to log in through “bancslink” (Session to be opened with clearing Screen) “Welcome to B@NCS-24” screen will appear (please see below). amount & drawn on branch to be mentioned Acceptance of payment by the SBI Staff – The payment vide any of the above mentioned 3 modes. Formatted: Bullets and Numbering . Branch No. Password. the bank a/c no. to which the amount is to be debited.. Operator details such as User No. must be mentioned on the challan In case of Direct Debit through SBI Cheque. & Terminal no. date.
Other Bank + Direct Debit (SBI Cheque) + Direct Debit (Voucher) In all there are 10 final options for SBI Life premium collection. “Your Sign-on Details” screen will appear as shown below. as per the following hierarchy – “ + SBI Life Premium Collection” – + First Premium + Group Swadhan + Direct Debit ( SBI Cheque ) + Direct Debit (Voucher) + Individual [Currently not available] + By Cash + By Cheque . there is a window listing various options . On clicking this MAIN OPTION.one of the MAIN OPTIONS is “SBI Life Premium Collection”.19 Once “Transmit” key is pressed. 6 are currently available (2 for Group Swadhan – First Premium & 4 for Individual – Renewal Premium).Other Bank + Direct Debit (SBI Cheque) + Direct Debit (Voucher) + Renewal Premium + Individual + By Cash + By Cheque . On the Right side of the screen. out of which. These are as under: . various sub options will appear. One has to select the proper option for accepting a particular type of premium payment.
20 SCREEN DETAILS Every screen has two parts. Upper portion gives INSURANCE DETAILS and the lower portion is for giving BANKING DETAILS (payment details) The details under different screens of INDIVIDUAL RENEWAL PREMIUM are given below – Renewal Premium --> INDIVIDUAL –> Payment by Cash Renewal Premium --> INDIVIDUAL –> Payment by Cheque – Other Bank (to be rolled out at a later stage) .
Renewal Premium Debit [SBI Cheque] --> 21 INDIVIDUAL –> Payment by Direct Renewal Premium --> INDIVIDUAL –> Payment by Direct Debit [Voucher] .
*Please note that the cheque must pertain to an a/c of any SBI CBS branch i. . Select the Instrument Date by pressing the Calendar button and opting for the given date viii. Enter the Policy Number Press GET button All the relevant fields pertaining to that policy will be displayed in the upper portion of the screen Banking Details: (Enter Cheque Details . vii. Enter cheque particulars such as cheque number. enter SBI a/c no. Select proper Instrument Type from the Drop down b. which remains that same for all options Insurance Details: gives Insurance Details. ii. Message “Processing” will appear at the bottom of the screen xii. Enter cheque* particulars such as cheque number and branch name (after confirming a/c particulars including requisite balance).after confirming the account particulars including requisite balance) In case of Cash Payment enter the amount received in the given field In case of payment by other Banks’ Local cheque a. proper error message will appear at the bottom of the screen. bank and branch name iii. In case of Direct debit through voucher.22 The upper portion of the screen. press Transmit xi. Enter Clearing date & select clearing type from drop down iv. Transaction may require authorization If everything is O.. xiii. In case of payment by SBI cheque – vi. Select proper Instrument Type from the Drop down ix. Formatted: Bullets and Numbering Formatted: Bullets and Numbering x. If not successful. Enter Instrument date a.K. of the customer (after confirming the a/c particulars including requisite balance) v. “O K” message will be displayed. On successful completion.
ii. The various types of error messages that would be displayed on the screen. for further enquiry contact SBI Life Branch – Last day for Policy is valid but 3 Only in force Individual due date for premium Renewal policy payment is over. iii. Error Message Type of (Why) (Remedial Action) No. payment only up to 5 days before the expiry of grace period will be accepted For all such Individual – Premium 4 Premium payments for policies customer payment for Renewal Pension Policies should approach Pension Policy Premium can not be nearest SBI Life not allowed at for accepted at SBI branch SBI branches. The error could be in Insurance details or banking details. The system displays appropriate message at the bottom of the screen in case of any invalid transaction /error. is wrongly your Policy Renewal written or wrongly Premium Number entered Payment can not – Premium 2 No premium Individual payment is not be accepted due is Renewal Premium due for this pending policy against your policy. Displayed Payment (When) – Policy Number Either the policy 1 Please check Individual does not exist no.23 EXCEPTION HANDLING / ERROR MESSAGE HANDLING i. Under EFT. reasons for the same and the remedial action to be taken are given in the table below. premium Branches please contact payments SBI Life . payment is over. to such policies person please contact can not be approach SBI Life SBI Life accepted at SBI branch branch branches. Reason Remarks Sl. Premium premium Payments for Please ask the accepted.
earlier entered is now changed – The Server at SBI CDC is down. For any given policy. i. please contact the SBI CDC Helpline If the message still persists. It has to be equal to or more than what is displayed on the terminal as Gross Premium In such case you can not complete the transaction. Try once again – The Server hosting the middleware is down. only one payment is accepted during the day The amount paid by the customer towards Renewal Premium can not be less than Gross Premium. please contact the SBI CDC Helpline 6 Amount Individual should be Renewal greater or Premium equal to Gross Premium Amount – Premium accepted is less than the Gross Premium Amount Formatted: Font: Not Bold 7 Please fetch Individual the details of Renewal new Policy Premium Number – After entering the Banking (payment) details and before pressing the submit button.24 5 branch Premium already received the day Individual Renewal for Premium – Payment towards the Policy no. Please contact Administrator Individual Renewal Premium Formatted: Font: Not Bold Individual Renewal Premium Formatted: Font: Not Bold . has been received during the day If the current payment pertains to a different period. then this can be paid next day or there after. the Policy No.e. Press Close button & then reenter the Policy No and fetch the details by pressing the GET button. Then enter the Banking details and proceed If the message still persists. Try once again Formatted: Font: Not Bold 8 9 Host application is unavailable. Please inform Administrator SBI Life Mid Server is not available.
25 Do not do any Cancellation / Reversals of any payments carried out through EFT. premium amount as well as policy status. .. In an eventuality of wrong transaction. System checks the correctness of policy no. or amount less than the premium or for invalid status. The module has validations for not accepting wrong policy nos. request the customer to contact nearest SBI Life branch In case of Renewal Premiums.
26 CHALLAN: .
SBI Life Insurance Co. in particular: i) Obtention of photograph of proposer (applicant) to be attached to the proposal form. have drawn up a “Checklist for compliance of Anti-Money Laundering Policy” (Annexure 3). PBBU/MCS/06-07/14 dated 16. . Accordingly. PBBU/MCS/06-07/11 dated 12.06 enclosing Circular no. the Reserve Bank of India introduced the Know Your Customer (KYC) guidelines requiring all Banks to be fully compliant by Dec 2005. (d) All Certified Insurance Facilitators (CIFs) and Branches are to strictly adhere to the AML guidelines. the AML Policy also applies to the Bank in so far as our insurance activity is concerned.27 11. In compliance. (b) Following these events. iii) Proof of Identity and Proof of Residence from amongst the documents listed as acceptable under AML Guidelines iv) Proof of Income will need to be obtained for all individual proposals with annual premium of Rs.06 enclosing Circular no. 043/IRDA/Life/AML/Mar 06 dated 31st March 2006 drew up and issued guidelines on Anti Money Laundering program for insurers (Annexure 1). One Lac or more.12. have adopted an Anti Money Laundering Policy (Annexure 2). SBI Life Insurance Co. Consequently.. the IRDA also vide their Circular no. Anti Money Laundering & KYC Guidelines (CC letter no. PBBU/MCS/06-07/200 dated 16. ii) Checklist at annexure 3 should form part of CIF’s Confidential Report on the proposer. PBBU/MCS/06-07/176 dated 12.06) (a) The Prevention of Money Laundering Act 2002 was enacted to prevent criminal elements from using the financial system for money laundering activities.12.06 and CC Letter no. for regular as also single premium.10 .10. (c) As a Corporate Agent of SBI Life Insurance Co.
Reporting of Suspicious Transactions 4 3. Know Your Customer (KYC) 2 3.2. Knowing New Customers 3 ii.1.4 Internal Control/Audit 7 Annexure I Customer Identification Procedure 8 Annexure II Vulnerable Products 9 Annexure III Income Proofs 10 Annexure IV Illustrative list of Suspicious Transactions 11 .1. 1.2. No.7.1. Products to be covered 4 3. AML Program 2 3. Compliance Arrangements 6 3. Appointment 6 18.104.22.168. procedures.e.3 Recruitment and Training of employees/agents 6 3. What is Money Laundering? 1 3. When should KYC be done? i.2 Appointment of Principal Compliance Officer 6 3.5. Annexure 1 Guidelines on Anti Money Laundering programme for Insurers Sl. Sources of Funds 4 3.1.4.v) Apply to PURE 28 TERM INDIVIDUAL proposals also i. Record Keeping 5 3. Defining Suspicious Transactions (including Suspicious Cash Transactions) 4 3.1.10. Verification at the time of redemption/surrender 5 22.214.171.124. Particulars Page No.1.1.1. Edu –Shield and Shield also. Background 1 2. Responsibilities 6 3.6.2. Monitoring and Reporting of Cash Transactions 4 3.1 Internal policies.1. Knowing Existing Customers 3 3. and controls 2 3. KYC and Risk Profile of the Customer 3 126.96.36.199.
These products include life insurance contracts.3 The obligation to establish an anti-money laundering program applies to an insurance company. to the extent indicated in the guidelines. non-life insurance contracts. the Authority has decided to put in place the following regulatory guidelines/instructions to the Insurers. Establishment of anti money laundering programs by financial institutions is one of the central recommendations of the Financial Action Task Force and also forms part of the Insurance Core Principles of the International Association of Insurance Supervisors (IAIS). and other intermediaries. and not to its agents. Background: 1. and to the insurance companies in particular. The guidelines are therefore of importance to the agents and corporate agents also. 2. bancassurance etc. lies on the insurance company. These products are offered to the public through trained agents of the insurance companies and also through a number of alternate distribution channels like direct marketing.29 Guidelines on Anti Money Laundering programme for Insurers (Circular Ref: 043/IRDA/LIFE/AML/MAR-06 31 March 2006) 1. has also been emphasized by international regulatory agencies as a key element in combating money laundering. 2002 brought into force with effect from 1st July 2005. 1. 2. annuity contracts. What is Money Laundering? 2. .2 Insurers offer a variety of products aimed at transferring the financial risk of a certain event from the insured to the insurer.1 The Prevention of Money Laundering Act. 1. The application of anti-money laundering measures to non-depository financial institutions generally. and health insurance contracts. which develops and bears the risks of its products. Agents and Corporate agents as part of an Anti Money Laundering Programme (AML) for the insurance sector.the physical disposal of cash proceeds derived from illegal activity. Accordingly.2 There are three common stages of money laundering as detailed below which are resorted to by the launderers and insurance institutions which may unwittingly get exposed to a potential criminal activity while undertaking normal business transactions: • Placement .1 Money Laundering is moving illegally acquired cash through financial systems so that it appears to be legally acquired. is applicable to all the financial institutions which include insurance institutions. Hence the responsibility for guarding against insurance products being used to launder unlawfully derived funds or to finance terrorist acts.
A list of documents to be verified at the time of accepting the risk for compliance with KYC requirement for individuals and others is given in Annexure I. i. Hence effective procedures should be put in place to obtain requisite details for proper identification of new customers. Financial institutions such as insurers are therefore placed with a statutory duty to make a disclosure to the authorized officer when knowing or suspecting that any property. procedures. include: 3. 3. It is mandatory to obtain any one of the documents to clearly .separating illicit proceeds from their source by creating complex layers of financial transactions designed to disguise the source of money. and internal controls which would also integrate its agents in its anti-money laundering program as detailed below: 3.1. procedures.1 Internal policies. 3. at a minimum. integration schemes place the laundered proceeds back into the economy in such a way that they re-enter the financial system appearing to be normal business funds. and • Integration . enabling the person with information to be able to disclose the same without any fear.1 Internal policies. and controls. procedures. insurance company should make reasonable efforts to determine the true identity of all customers requesting for its services.30 • Layering . AML Program: In order to discharge the statutory responsibility to detect possible attempts of money laundering or financing of terrorism. directly or indirectly. The above key elements of the AML programme are discussed in detail below: 3. 3. or was or is intended to be used in that connection is passing through the institution.3 Recruitment and training of employees/agents. in whole or in part. subvert the audit trail and provide anonymity. representing the proceeds of drug trafficking or of a predicated offence. every insurer needs to have an AML program which should.3 If the layering process has succeeded.creating the impression of apparent legitimacy to criminally derived wealth. Insurance institutions likewise need not fear breaching their duty of confidentiality owed to customers. Such disclosures are protected by law. 2.2 Appointment of a Principal compliance officer.1 Know Your Customer (KYC): Considering the potential threat of usage of the financial services by a money launderer.4 Internal Control/Audit. 3. and controls: Each insurance company has to establish and implement policies.
8) iv. in respect of the existing contracts.2004. Since Insurers. 1 lakh per person per annum within 15 days of issue of policy. Logging in of business or payment of premiums/lump sums at branches. v. Insurance premium paid by persons other than the person insured should be looked into to establish insurable interest. vii. The degree of due diligence to establish KYC could be decided by the insurers where premium is below Rs. In case of new contracts. KYC should also be carried out at the claim payout stage and at times when additional top up remittances are inconsistent the customers known profile. what ever be the payment mode (Please see 3. 1 lakh per annum.1. premium of Rs. The insurer should not enter into a contract with a customer whose identity matches with any person with known criminal background or with banned entities and those reported to have links with terrorists or terrorist organizations (A list of such entities would be sent to the insurance companies shortly). 3. iii.04. invariably collect considerable background of the policyholder as also the beneficiary before entering into contracts no major constraints are expected in this exercise. In case of non face to face business which includes Tele calling. KYC in case of existing customers should . Remittance of premium is an important stage of entering into contract.3 below).1.3 below). Internet Marketing. 1 lakh per annum in case of individual policies should be considered as a threshold for exercising detailed due diligence.1. cash transactions need more diligence and care (Please also see para 3.2 When should KYC be done? i. Besides verification of identity of the customer at the time of initial issuance of contract. hence. collection of documentation be completed for premiums exceeding Rs. ii.31 establish the customer identity consistent with risk profile in respect of all new insurance contracts (Please also see 3. ii. Knowing New Customers: a. vi. Customer information should be collected from all relevant sources. KYC should be done before the issue of every new contract. However. Knowing Existing Customers: It has been decided that the process of AML should be applied for the policies coming into force on or after 01. b. including from agents.1.
32 therefore be carried out based on the limits fixed for new policies on all contracts/relevant transactions in case of the existing polices. 3.1.3 KYC and Risk Profile of the Customer: In the context of the very large base of insurance customers and the significant differences in the extent of risk posed by them, the companies are advised to classify the customer into high risk and low risk, based on the individual’s profile and product profile, to decide upon the extent of due diligence. i. For the purpose of risk categorization, individuals (other than High Net Worth) and entities whose identities and sources of wealth can be easily identified and transactions in whose accounts by and large conform to the known profile may be categorized as low risk. Illustrative examples of low risk customers could be salaried employees whose salary structures are well defined, people belonging to lower economic strata of the society, Government departments and Government owned companies, regulators and statutory bodies etc., In such cases, the policy may require that only the basic requirements of verifying the identity and location of the customer are to be met. Not withstanding above, in case of continuing policies, if the situation warrants, as for example if the customer profile is inconsistent with his investment through top-ups, a re-look on customer profile is to be carried out. ii. For the high risk profiles, like for customers who are non-residents, high net worth individuals, trusts, charities, NGO’s and organisations receiving donations, companies having close family shareholding or beneficial ownership, firms with sleeping partners, politically exposed persons (PEPs), and those with dubious reputation as per available public information who need higher due diligence, KYC and underwriting procedures should ensure higher verification and counter checks. In this connection insurers are also advised to carry out the appropriate level of due diligence keeping the observations at 3.1.5 in view. 3.1.4 Products to be covered: The AML requirements focus on the vulnerability of the products offered by the insurers to any of the process of money laundering. Some vulnerable products are illustrated in Annexure II. Based on the vulnerability criterion and after examining the product and business coverage it has been decided that the following categories of products/business lines may be exempted form the purview of AML requirements: i. Standalone medical/health insurance products. ii. Reinsurance and retrocession contracts where the treaties are between insurance companies for reallocation of risks within the insurance industry and do not involve transactions with customers.
33 iii. Group insurance businesses which are typically issued to a company, financial institution, or association and generally restrict the ability of an individual insured or participant to manipulate its investment. iv. Term life insurance contracts, in view of the absence of cash surrender value and stricter underwriting norms for term policies (especially those with large face amounts) 3.1.5 Sources of Funds: It is imperative to ensure that the insurance being purchased is reasonable. Accordingly, customer’s source of funds, his estimated net worth etc., should be documented properly and the advisor and/or employee shall obtain income proofs as in Annexure III, to establish his need for insurance cover. Proposal form may also have questionnaires/declarations on sources of fund, and details of bank accounts. Large single premiums should be backed by documentation, to establish source of funds. 3.1.6 Defining Suspicious Transactions (including Suspicious Cash Transactions): The AML program envisages submission of Suspicious Transaction Reports (STR)/ Cash Transactions Reports (CTR) to a Financial Intelligence Unit-India (FIU-IND) set up by the Government of India to track possible money laundering attempts and for further investigation and action. It is extremely difficult to give an exhaustive list of suspicious transactions. An illustrative list of such transactions is however, provided in Annexure IV. Suspicious activity monitoring programs should be appropriate to the company and the products it sells. 3.1.7 Reporting of Suspicious Transactions: Insurance companies should report the suspicious transactions immediately on identification. When such transactions are identified post facto the contract, a statement may be submitted to FIU-IND within 3 working days of identification in the prescribed formats. 3.1.8 Monitoring and Reporting of Cash Transactions: With a view to ensuring that premiums are paid out of clearly identifiable sources of funds, it has been decided that remittances of premium by cash should not exceed Rs. 50,000/-. It would be advisable for the companies to evolve even lower thresholds for cash transactions. It is further advised that: i. Premium/proposal deposits beyond Rs. 50,000 should be remitted only through cheques, demand drafts, credit card or any other banking channels. ii. For integrally related transactions, premium amount greater than Rs. 50,000 in a calendar month should be examined more closely for possible angles of
34 money laundering. This limit will apply at an aggregate level considering all the roles of a single person-as a proposer or life assured or assignee. iii. Insurance companies have to report integrally connected cash transactions above Rs. 10 lakhs per month to FIU-IND by 15th of next succeeding month 3.1.9 Verification at the time of redemption/surrender: i. In life insurance business, no payments should be allowed to 3rd parties except in cases like superannuation/gratuity accumulations and payments to legal heirs in case of death benefits. All payments, should be made after due verification of the bona fide beneficiary, through account payee cheques. ii. Free look cancellations needs particular attention of insurer especially in client/agents indulging in free look surrender on more than one occasion. iii. AML checks become more important in case the policy has been assigned by the policyholder to a third party not related to him (except where the assignment is to Banks/FIs/Capital Market intermediaries regulated by IRDA/RBI/SEBI) 3.1.10 Record Keeping: The insurer/agents/corporate agents are required to maintain the records of types of transactions mentioned under Rule 3 of PMLA Rules 2005 and the copies of the Cash/Suspicious Transactions reports submitted to FIU as well as those relating to the verification of identity of clients for a period of 10 years. i. Sharing of information on customers may be permitted between different organisations such as banks, insurance companies, Income tax authorities, local government authorities on request. Records can also be in electronic form. ii. Insurance institutions should implement specific procedures for retaining internal records of transactions both domestic or international, to enable them to comply swiftly with information requests from the competent authorities. Such records must be sufficient to permit reconstruction of individual transactions (including the amounts and types of currency involved (if any) so as to provide, if necessary, evidence for prosecution of criminal activity. In the case of long term insurance, full documentary evidence is usually retained based on material completed at the initiation of the proposal of the contract, together with evidence of processing of the contract up to the point of maturity. iii. Companies should retain the records of those contracts, which have been settled by claim (maturity or death), surrender or cancellation, for a period of at least 10 years after that settlement.
In case of customer identification data obtained through the customer due diligence process. Risk management framework as evolved by the insurer. The policy should have the approval of the board and duly filed with IRDA for information. account files and business correspondence should be retained for at least 10 years after the business relationship is ended. Monitoring of transactions. 3.1 Appointment: The companies should designate a Principal Compliance Officer under AML rules. they should be retained until it is confirmed that the case has been closed where practicable.1. c. terminating its business relationship with such an agent/corporate agent. Insurance Company when faced with a non-compliant agent or corporate agent should take necessary action to secure compliance. Customer Identification procedure. A detailed AML Policy should be drawn up encompassing aspects of Customer acceptance policy. . A list of rules and regulations covering performance of agents and corporate agents must be put in place. The policy should be reviewed annually and changes effected based on experience. it is necessary that the following steps are taken to strengthen the level of control on the agents and corporate agents engaged by the insurers: a. or transactions which have been the subject of a disclosure.11 Compliance Arrangements: i. In situation where the records relate to ongoing investigations. v. including when appropriate.35 iv. The name of the principal compliance officer should be communicated to IRDA and FIU immediately.2 Appointment of Principal Compliance Officer: 3. Services of defaulting agents who expose the insurers to AML related risks on multiple occasions should be terminated and the details reported to IRDA for further action.2. A clause should be added making KYC norms mandatory and specific process document can be included as part of the contracts. Nonetheless. ii. insurance institutions are requested to seek and retain relevant identification documents for all such transactions and to report the offer of suspicious funds. Responsibility on behalf of the agents and corporate agents: The guidelines place the responsibility of a robust AML program on the insurers. b. 3.
The committee monitoring the agents should monitor sales practices followed by agents and ensure that if any unfair practice is being reported then action is taken after due investigation.3 Recruitment and Training of employees/agents 3. Instruction Manuals on the procedures for selling insurance products. record-keeping.3. Insurance companies should have adequate screening procedures when hiring employees. ii.3. issue of insurance policies should be set out. He should ensure that employees and agents of the insurance company have appropriate resources and are well trained to address questions regarding the application of the program in light of specific facts.2 The concept of AML should be part of in-house training curriculum for agents. The Principal Compliance Officer should ensure that the Board approved AML program is being implemented effectively.3 The following training requirements are considered essential based on the class of employees. Periodic risk management reviews should be conducted to ensure company's strict adherence to laid down process and strong ethical and control environment. New employees: A general appreciation of the background to money laundering. Sales/Advisory staff: Members of staff who are dealing directly with the public (whether as members of staff or agents) are the first point of contact with potential money launderers and their efforts are therefore vital to the strategy in the fight against money laundering. including monitoring compliance by the company’s insurance agents with their obligations under the program. and the subsequent need for identifying and reporting of any suspicious transactions to the appropriate designated point should be provided to all new employees who will be dealing with customers or their transactions. irrespective of the level of seniority. acceptance and processing of insurance proposals. 3.1 As most part of the insurance business is through agents/corporate agents which brings in non face to face business relationships with the policyholders.2 Responsibilities: i.3. and the need for extra vigilance in these cases.36 3. 3. the selection process of agents/corporate agents should be monitored carefully.2. . 3. customer identification. ii. i. It is vital that “front-line” staff is made aware of the insurance institution’s policy for dealing with nonregular customers particularly where large transactions are involved.
Insurance Companies are therefore required to initiate various steps on the lines indicated above and file their AML policies with IRDA latest by 1st July 2006 Yours faithfully. C.4 Internal Control/Audit: Insurance companies’ internal audit/inspection departments should verify on a regular basis. v. iv.R. to strengthen the policy and implementation aspects. Exception reporting under AML policy should be done to Audit Committee of the Board. Administration/Operations supervisors and managers: A higher level of instruction covering all aspects of money laundering procedures should be provided to those with the responsibility for supervising or managing staff. Ongoing training: It will also be necessary to make arrangements for refresher training at regular intervals to ensure that staff does not forget their responsibilities. 4. compliance with policies. This might be best achieved by a twelve or six-monthly review of training. The above guidelines on establishment of an effective AML regime would be effective from 1st August 2006. Processing staff: Those members of staff who receive completed proposals and cheques for payment of the single premium contribution must receive appropriate training in the processing and verification procedures. 3. Muralidharan Member (Finance) . procedures and controls relating to money laundering activities.37 iii. vi. The reports should specifically comment on the robustness of the internal policies and processes in this regard and make constructive suggestions where necessary. Records of training imparted to staff in the various categories detailed above should be maintained. Timing and content of training packages for various sectors of staff will need to be adapted by individual insurance institutions for their own needs.
Telephone bill ii. Voter’s Identity Card iv. Electricity bill v. Insurance Contracts with individuals • Legal name and any other names used i. Bank account statement iii. Certificate of incorporation and Memorandum & Articles of Association ii. officers or employees to transact business on its behalf iv. Letter from a recognized public authority or public servant verifying the identity and residence of the customer • Proof of Residence i. Ration card B. Registration certificate. if registered ii. Copy of PAN allotment letter C.38 Customer Identification Procedure Documents that may be obtained from customers Features Documents A. Partnership deed iii. Resolution of the Board of Directors to open an account and identification of those who have authority to operate the account iii. PAN Card iii. Insurance Contracts with companies • Name of the company • Principal place of business • Mailing address of the company • Telephone/Fax Number i. Letter from any recognized public authority iv. Passport ii. Insurance Contracts with partnership firms • Legal name • Address • Names of all partners and their addresses • Telephone numbers of the firm and partners i. Power of Attorney granted to a partner or an employee of the firm to transact business on its behalf Annexure I . Power of Attorney granted to its managers. Driving License v.
Single premium products-where the money is invested in lump sum and surrendered at the earliest opportunity. Bank Cash-flows statements.39 iv. if registered ii. 2. Unit linked products which provide for withdrawals and unlimited top up premiums. Insurance Contracts with trusts & foundations Names of trustees. Any officially valid document identifying the partners and the persons holding the Power of Attorney and their addresses D. 3. Agricultural-land details & Income assessments 10. Employer’s Certificate 4. beneficiaries and those holding Power of Attorney. settlers. founders/managers/directors and their addresses iv. Certificate of registration. Pass-book (Note: The list is only illustrative and not exhaustive) . Agricultural Income Certificate 9. Audited firm accounts and Partnership Deed 6. settlers beneficiaries and signatories Names and addresses of the founder. Non-standard Income Proofs: 7. Any officially valid document to identify the trustees. Chartered Accountant’s Certificate 8. Power of Attorney granted to transact business on its behalf iii. Audited Company accounts 5. Standard Income proofs: 2. (Note: The list is only illustrative and not exhaustive) Annexure III Income Proofs: 1. Free look cancellations-especially the big ticket cases. Resolution of the managing body of the foundation/association Annexure II Vulnerable Products: 1. the managers/directors and the beneficiaries Telephone/fax numbers i. Income tax assessment orders/Income Tax Returns 3.
40 Annexure IV Illustrative list of Suspicious Transactions: 1. Frequent request for change in addresses 9. Customer insisting on anonymity. Assignments to unrelated parties without valid consideration. 7. (Note: The list is only illustrative and not exhaustive. 5. Request for a purchase of policy in amount considered beyond his apparent need. 6.org) . reluctance to provide identifying information. by arson or other means causing a fraudulent claim to be made to recover part of the invested illegitimate funds 11. Overpayment of premiums with a request for a refund of the amount overpaid.iaisweb. 4. Cash based suspicious transactions for payment of premium and top ups over and above Rs. Frequent free look surrenders by customers. 5 lakhs per person per month. or providing minimal. 8. 50.000/3. seemingly fictitious information 2. Unusual terminating of policies and refunds. For more examples on Suspicious Transactions please visit http://www. Policy from a place where he does not reside or is employed. Inflated or totally fraudulent claims e.g. It should also consider multiple DDs each denominated for less than Rs. Borrowing the maximum amount against a policy soon after buying it 10.
Partnership firms etc. Driving Licence. a personal identificati on and .41 Annexure 2 1. Features Documents Insurance Contracts with individuals Proof of name (Legal name and any other names used) • • • • • • Passport PAN Card Voter’s Identity Card Driving License Letter from a recognized public authority* or public servant** verifying the identity and residence of the customer If none of the above documents are available. any one of the documents listed below as proof of residence. etc. documents to prove name and residence must be collected from individual prospects. KYC Documents for Companies.) also contains the address. However. It is mandatory to collect: 2. the said document can be accepted for both identity and address proof. if the document of identity (like Passport. Know Your Customer To meet the Know Your Customer (KYC) requirements. any one of the following documents to establish proof of name and 3. are also listed below.
) Letter from any recognized public authority Electricity bill Ration card Valid lease agreement along with rent receipt. mobile. which is not more than 3 months old. landline. . Proof of Residence Telephone bill (Telephone bill pertaining to any kind of telephone connection like. provided it is not older than six months from the date of insurance contract. wireless etc is a valid proof of residence. the statement should not be older than six months as on the date of acceptance.42 certificatio n of the concerned Unit Manager/ Branch Head for identity of the prospectiv e policyhold er along with a photograp h of the customer. However.) Bank account statement (Bank account statement includes any bank account opened by the customer wherein his permanent/ present residence address is available.
43 Proof of existence of Employer (eg certificate of incorporation for a Company and Employers certificate evidencing that proof of residence. (Employers must have in place systematic procedures for recruitment along with maintenance of mandatory records of its employees are generally reliable. Sole proprietorships certificates will not be accepted). Alternate Documents 1. A Bankers Certificate can be accepted for both identity and residence proofs, provided the Proposed Policyholder is a Bank Customer.
For policies with premiums below one lakh per annum, it is mandatory to obtain identity proof. Obtaining proof of residence is left to the discretion of the Underwriter. * public authority" means any authority or body or institution of selfgovernment established or constituted— by or under the Constitution; by any other law made by Parliament; by any other law made by State Legislature; by notification issued or order made by the appropriate Government, and includes any— body owned, controlled or substantially financed non-Government organization substantially financed, directly or indirectly by funds provided by the appropriate Government; **"public servant" means(i) any person in the service or pay of the Government or remunerated by the Government by fees or commission for the performance of any public duty; (ii) any person in the service or pay of a local authority ; (iii) any person in the service or pay of a corporation established by or under a Central, Provincial or State Act, or an authority or a body owned or controlled or aided by the Government or a Government company as defined in section 617 of the Companies Act, 1956;
2. 3. 4. 5. 6. 7.
44 (iv) any Judge, including any person empowered by law to discharge, whether by himself or as a member of any body of persons, any adjudicatory functions; (v) any person authorised by a court of justice to perform any duty, in connection with the administration of justice, including a liquidator, receiver or commissioner appointed by such court; (vi) any arbitrator or other person to whom any cause or matter has been referred for decision or report by a court of justice or by a competent public authority; (vii) any person who holds an office by virtue of which he is empowered to prepare, publish, maintain or revise an electoral roll or to conduct an election or part of an election; (viii) any person who holds an office by virtue of which he is authorised or required to perform any public duty; (ix) any person who is the president, secretary or other officebearer of a registered co-operative society engaged in agriculture, industry, trade or banking, receiving or having received any financial aid from the Central Government or a State Government or from any corporation established by or under a Central, Provincial or State Act, or any authority or body owned or controlled or aided by the Government or a Government company as defined in section 617 of the Companies Act, 1956; (x) any person who is a chairman, member or employee of any Service Commission or Board, by whatever name called, or a member of any selection committee appointed by such Commission or Board for the conduct of any examination or making any selection on behalf of such Commission or Board; (xi) any person who is a Vice-Chancellor or member of any governing body, professor, reader, lecturer or any other teacher or employee, by whatever designation called, of any University and any person whose services have been availed of by a University or any other public authority in connection with holding or conducting examinations; (xii) any person who is an office-bearer or an employee of an educational, scientific, social, cultural or other institution, in whatever manner established, receiving or having received any financial assistance from the Central Government or any State Government, or local or other public authority. Explanation 1.Persons falling under any of the above subclauses are public servants, whether appointed by the Government or not. Explanation 2.Wherever the words "public servant" occur, they shall be understood of every person who is in actual possession of the situation of a public servant, whatever legal defect there may be in his right to hold that situation.
Telephone numbers of the behalf firm and partners d) Any officially valid document identifying the partners and the persons holding the Power of Attorney and their addresses Features Documents Insurance Contracts with trusts & a. xxiv. Power of Attorney granted to its managers. Name of the company Memorandum & Articles of xv. . Mailing address of the 2. Names and addresses of the c. Principal place of business Association xvi. if foundations registered xxii. Resolution of the Board of company Directors to open an account and xvii. managers/directors and the beneficiaries and those holding beneficiaries Power of Attorney. Copy of PAN allotment letter Features Documents Insurance Contracts with partnership a) Registration certificate. settlers b. Any officially valid document to founder. Resolution of the managing body of the foundation/association The staff accepting the business must also ensure that the KYC procedures are complete. Certificate of registration. Names of all partners and partner or an employee of the their addresses firm to transact business on its xxi. Legal name b) Partnership deed xix. Names of trustees. Certificate of incorporation and xiv. the identify the trustees. settlers. if firms registered xviii. Power of Attorney granted to beneficiaries and signatories transact business on its behalf xxiii. Telephone/fax numbers founders/managers/directors and their addresses d. Address c) Power of Attorney granted to a xx. officers or employees to transact business on its behalf 4.46 Features Documents Insurance Contracts with companies 1. Telephone/Fax Number identification of those who have authority to operate the account 3.
to establish source of funds. a photograph must be insisted upon. and iii. he has completed all KYC norms. • Sources of Funds The customer’s source of funds.d is not clear. his estimated net worth etc. ii. the following words should be affixed on the ACR and the signature of the Agent CIF be taken. should be documented properly and income proofs** be taken in case where total annual premium paid by customer is equal to or more than Rs 1 lakh. The Agent/CIF must verify that i. In the event the photo i. Till such time that the requisite details are incorporated in the ACR form.D It is mandatory to collect either a photograph or a photo I. i. he has taken all possible precautions to ensure compliance with the Anti Money Laundering Guidelines and the Anti Money Laundering Policy of the Company. Pass-book Single premiums above Rs 5 lakh Large single premiums should be backed by documentation. v.. • • It is reiterated that no cash premiums be collected until further specific instructions in this regard are given. • .47 • Photograph/Photo I.D of customers at the proposal stage. **Illustrative list of income proofs: Standard Income proofs: Income tax assessment orders/Income Tax Returns Employer’s Certificate Audited Company accounts Audited firm accounts and Partnership Deed Non-standard Income Proofs: Chartered Accountant’s Certificate Agricultural Income Certificate Agricultural-land details & Income assessments Bank Cash-flows statements. he has verified that the person is not an anonymous /fictitious /benami person The Agent/CIF must sign the Confidential Report certifying the above.
I also certify that I have taken all possible precautions to ensure compliance with the Anti Money Laundering Guidelines and the Anti Money Laundering Policy of the Company and have verified to the best of my knowledge that the prospect is not an anonymous. _________________ Agent/CIF signature” . I certify that I have not accepted any premium or deposit towards procuring insurance in cash. fictitious and / or a benami person.48 “I hereby confirm that I have followed and completed all the Know Your Customer (KYC) norms as prescribed in the Anti Money Laundering Policy of SBI life and in the IRDA Anti Money Laundering Guidelines. Further.
Further I also confirm that the above person resides currently at the following address:Address:-________________ ________________ ________________ _________________ The above confirmations are based on my personal enquiries with the Agent and Customer and I am fully satisfied above the correctness of the above declarations. Sub./Mrs./Ms. Yours truly.: Confirmation of identity and residence of Prospective Policyholder Ref. SBI Life Insurance Company Limited._____________.: Application No. _________________ I hereby confirm that photograph affixed above is that of the person whose name is mentioned above. I also understand that I will be personally responsible if this declaration is proved incorrect.Mr. ____________ ____________.49 Annexure I Form of Confirmation to be given by the SBI Life Branch employee heading the channel through which the business is sourced for identification and proof of residence of a Prospective Policyholder Date: To The Chief Underwriter. Affix latest passport size Photograph (to be countersigned by the Prospective Policyholder across the photograph) Dear Sir/Madam. Name: Designation: Branch Manager/Unit Manager . For SBI Life Insurance Company Limited.
As per our records.50 <<On the Employers Letterhead>> Form of Confirmation to be given by the Employer for identification and proof of residence of an employee who is the Prospective Policyholder (Employer should be either a Partnership Firm/Company/Corporation/Bank/Trust /Society) Date: To The Chief Underwriter. is __________ We further confirm that our organization has systematic procedures for recruitment alongwith maintenance of mandatory records for our employees./Ms. _________________ We hereby confirm that the above mentioned person is an employee of our organization with Employee No. we confirm that we have obtained necessary documentary evidence to establish the identity and residence. ____________ ____________. For ______________Company Limited/Private Limited/Firm/Trust/Society Name. At the time of recruiting the employee. Sub._____________. Yours truly. Name: Designation: .: Application No. SBI Life Insurance Company Limited.Mr.: Confirmation of identity and residence of Prospective Policyholder Ref._______ and our Income-tax Permanent Account No. Annexure II Affix latest passport size photograph here (to be countersigned by the Prospective Policyholder across the photograph) Dear Sir/Madam.________ and is employed as ____________ (Designation) in our _________ Office (Head Office/Branch Office name). the above person resides currently at the following address:Address:-________________ ________________ Our PF No./Mrs.
.51 Note:Only an employer who is the nature of a Partnership Firm or Companies or Trust or Societies or Association of Persons or Body of Individuals can give this Certification. Certifications from Employers who are in the nature of Sole Proprietorship concerns will not be accepted.
_____________. the above person resides currently at the following address:Address:-________________ ________________ ________________ _________________ Yours truly. as per the “Know Your Customer” Guidelines of Reserve Bank of India and as per our records. Dear Sir/Madam. For ______________Bank Limited.52 Annexure III <<On the Bank’s Letterhead>> Form of Confirmation to be given by the Banks for identification and proof of residence of a Prospective Policyholder who is a Bank Customer Date: To The Chief Underwriter.____ with our Bank./Mrs. _________________ We hereby confirm that the above mentioned person holds Savings/Current/ Deposit/Loan Account No. Name: Designation: . At the time of opening the account. we confirm that we have obtained necessary documentary evidence to establish the identity and residence.Mr.: Application No./Ms.: Confirmation of identity and residence of Prospective Policyholder Ref. SBI Life Insurance Company Limited. Sub.
ii.. iii.. Passport PAN Card Voter’s Identity Card ………. Telephone Bill Bank Account Statement Ration Card …………. Have you obtained any one of the prescribed proof of address ? # 3. iv. Have you verified that the name and address mentioned in the aforesaid two documents are the same as stated in the proposal forms? 4. ii. V. v.. # i. iv. ____________________ Signature of CIF Explanation: @ i. ………. iv. Income Tax Assessment Orders / Income Tax Returns Employer’s Certificate …………. % i. …………. iii. . Have you obtained any one of the prescribed proof of identity? @ 2.. …………. Have you obtained the source of income document where required ?% I hereby declare that the foregoing statements are true and correct to the best of my knowledge and belief.53 Annexure 3 Checklist for Compliance of Anti-Money Laundering Policy : To be completed by the CIF Checklist Y/N Copies of Document attached 1. ii. iii.
Asst. whether Officer and/or Assistant shall be selected from each identified branch. option will be sought from Officers and assistants for marketing Mutual Funds 13. 2001 stipulates inter alia that all distributors and agents of mutual funds units should pass the AMFI certification examination and follow the provisions of SEBI (Mutual funds) Regulations and Guidelines. selection will be made through an interview process by a committee consisting of:a. Selection of Officers/Assistants: From the Officers/Assistants. 12. Training and Certification as AMFI Certified Employee (CC letter no.05. Identification of Branches: The Circle Management will identify the branches taking into account the clientele profile. MFD/CIR/ 06/210/2002 dated June 26. Selection. Identification of Officers/Assistants: From each identified branch.54 Chapter 4. size of the branch etc. Ltd. MCS/03-04/17 dated 12.10/310/01 dated September 25. Mutual Funds SEBI circular No. MFD/CIR No. A representative of SBI Funds Mgt. General/Chief Manager (Cross Selling) of the Network d) Not more than 2 persons. The Officers/Assistants selected by the Committee will be required to undergo training and appear for an . SEBI Circular No.2003 and MCS/04-05/15 dated 27th April 2004) 11. c. An Assistant General Manager of the Region b. 2002 inter-alia required them to also follow code of conduct as recommended by AMFI. i. Further. potential for Mutual fund selling . who volunteer.
55 AMFI prescribed test. Fidelity Mutual Fund and Franklin Templeton Mutual Fund. vide our letter under reference. in addition to their other responsibilities. In order to enable the Bank and the Circles to keep track of such certification. . Accordingly. complete in all respects from all participants at the start of the training programme. ii) The AMC conducting the AMFI Certification training should deliver the mark sheets of all candidates to the Asst. Tata Mutual Fund. the AMFI certification and training and examination programmes for our employees are being conducted in the Circles by SBI Mutual Fund. obtained at the beginning of the training of all the successful candidates should be forwarded alongwith respective photocopies of the mark sheets and a single DD for the requisite registration amount. (a) Procedure for obtaining Registration ( CC letter nos. it is necessary to have a uniform system for AMFI Registration applicable to all Circles and Mutual Fund tie-up partners. the procedure shall be as detailed below : i) The AMC organizing the AMFI certification training programme should obtain “Application Form for Photo Identity Card (Corporate Employees)”. General / Chief Manager (Cross Selling). UTI Mutual Fund. iii) All the mark sheets should be branded with a stamp reading “Corporate Employees of State Bank of India. 2. The successful Officers/Assistants will thereafter be entrusted with the responsibility of marketing products of SBI Funds Management Ltd. General / Chief Manager (Cross Selling) directly and retain an acknowledgement. the mark sheets of the successful candidates shall be retained by Asst. v) The “Application Forms for Photo Identity Card (Corporate Employee)”. ARN 12195”. PBBU/MCS/0506/187 dated 25th March 2006 and th December 2007) MCS/07-08/67 dated 5 Consequent to the Bank tying up as a distribution agent for mutual fund products of various companies. by debit to LHO Charges A/c to the local office of M/s CAMS already forwarded. iv) While the mark sheets of the unsuccessful candidates may be returned to the respective employees.
2002 It has since been decided in consultation with AMFI that all intermediaries engaged in selling and marketing of mutual funds units (distributors. brokers. 2003 Such registration shall be subject to passing of certification examination and adherence to guidelines as specified by SEBI and AMFI from time to time. whether individuals or of any other organisation structure) shall be registered with AMFI by March 31. at LHO. Rationale: SEBI Guidelines for REGISTRATION OF INTERMEDIARIES vide SEBI Circular No. vii) After receipt of the Photo ID Cards. . M/s. agents. General / Chief Manager (Cross Selling) concerned.56 vi) In the covering letter. sub-brokers or called by any other name. the same along with the original mark sheet should be forwarded to the respective Branch Manager / HOD of the successful employees to be handed over to the ACE. CAMS should be requested to forward all the photo ID cards directly to Asst. MFD/CIR/20/23230/2002 dated November 28.
RAHEHA CENTRE.57 APPLICATION FORM FOR ARN CARD (Corporate Employee) ASSOCIATION OF MUTUAL FUNDS IN INDIA 709. MUMBAI – 400 021 Name of applicant : First Name Middle Name Last Name Date of Birth : : : : D D M M Y Y Stamp Size Two Colour Photograph s Name of the Organization employed by: ARN No. of the organization Designation / position held Brief description of responsibilities AMFI Certificate Number Test Centre Date of passing test Residential Address : : : D D M M Y Y : : : : . FREE PRESS JOURNAL MARG. NARIMAN POINT.
58 City & Pin Code : Telephone Number (Residence) : Office Address : City & Pin Code : Telephone Number (Office) : Qualifications: Course : University / Institute : Year of Passing : Payment Details: DEMAND DRAFT NO. DATE : : .
(SIGNATURE OF THE RECEIVER) . __________________________________________) Drawn on (Bank & Branch) ______________________________________________dated ___________________ being Fees for Registration with AMFI. ___________________ (Rs. ) ____________________________________ along with a Demand Draft No./Ms.59 D D M M Y Y Y Y AMOUNT Drawn on (Name & Branch of Bank) : : Place SIGNATURE OF THE APPLICANT Date ATTESTED BY DESIGNATION Company Stamp : Signature with ACKNOWLEDGEMENT Received Registration form from (Mr. _______________ for Rs.
within one month of passing the Test or attending the refresher course. ii) The renewal of registration as Corporate employee can be done iii) Either by reappearing and passing the AMFI Certification Test all over again. Accordingly. They would however have to vi) Attend the refresher course. The renewal exercise needs to be completed within a period of 6 months from the date that the registration became due for renewal.2003) from writing the AMFI Certification Test provided they have an experience of 5 years in sales and marketing of MF products or interacting with investors. iv) Submission of zerox copy of passing certificate obtained after clearing the Test or Certificate of attending the refresher course. FM/SHR/197 dated 15th January 2007 to all Circles) AMFI CERTIFICATION As per AMFI guidelines.60 2(b) Procedure for Renewal of Registration (vide SBI MF letter no. State Bank Group has been identifying employees for writing the AMFI Certification Test to enable them to market and sell MF products. or attending the refresher course. This registration is valid for a period of 5 years. v) Further SEBI has exempted existing employees who would be above the age of 50 years (as on 30. .09. On successful completion of the Test the employees are duly registered with AMFI and are qualified to market and sell MF products. all financial intermediaries engaged in marketing and selling Mutual Funds products must be AMFI certified. i) The registration becomes due for renewal on completion of 5 years.
61 vii) Submission of zerox copy of certificate of attending the refresher course. AMFI REFRESHER COURSE IN MUTUAL FUNDS REGISTRATION FORM APPLICANT’s NAME (TO BE PRINTED ON CERTIFICATE) Ms. / Mrs. Title: Mr. within one month of attending the same. / DATE OF BIRTH PASSPORT – SIZE COLOUR PHOTOGRAPH OF CANDIDATE PASTE (DO NOT STAPLE) D D M M Y Y Y Y M/F ADDRESS .
______________ DD date:__________ Rs.62 EMAIL: ________________________________________________________ Tel No: Mobile: RCMF Date: Payment details RCMF Centre: DD No. ___________ I certify that the above information provided is true and correct. _______________________________________________________ Candidate’s Signature Place: Date: ______________________________________________________________________________ __ Indian Institute of Capital Markets. Navi Mumbai -400 705 . Vashi. Sector 17. Plot # 82._____________ Issuing bank:_____________________________________________ Cash deposited at AXIS Bank at__________________ on _______________ Rs.
com Name: SHRI V.in Name: Dr.com Name: Dr.com Name: Dr. V. Authorized Signatory Place: Vashi For Indian Institute of Capital Markets Date: Centre Date MUMBAI(VASHI) November 1. V. C. V.by DD/Cash bearing number__________ dated______________drawn in favour of Indian Institute of Capital Markets/Cash deposited in Axis Bank’s branch_______________ in S/B account number 072010100287494 of Indian Institute of Capital Markets on (date)____________________.com Name: Dr. 2008 MUMBAI(CST) November 8.co. Hiremath Tel: 022-2788 3022 Email: email@example.com ACKNOWLEDGMENT/RECEIPT We thankfully acknowledge the receipt of Rs. 2008 MUMBAI(VASHI) December 6. 1. C. C. ANAND 011-26139274/26124707 Tel: Email: anandinvestments@yahoo. Hiremath . 2008 December MUMBAI(CST) Host Organisation INDIAN INSTITUTE OF CAPITAL MARKETS INDIAN INSTITUTE OF CAPITAL MARKETS INDIAN INSTITUTE OF CAPITAL MARKETS INDIAN INSTITUTE OF CAPITAL MARKETS INDIAN INSTITUTE OF CAPITAL MARKETS INDIAN Contact Details Name: Dr.200/. Hiremath Tel: 022-2788 3022 Email: amfitest@utiicm. V. Hiremath Tel: 022-2788 3022 Email: amfitest@utiicm. V. C. 2008 DELHI November 17. 2008 MUMBAI(VASHI) November 15. Hiremath Tel: 022-2788 3022 Email: amfitest@utiicm. C. K.
00 (Rupees seven hundred fifty only) and for study material (Work book) the cost is Rs. ii) The amount of honorarium is Rs. P&HRD.00 (Rupees four hundred only) (inclusive of Rs.400. .e. The above amounts will be reimbursed on actual basis subject to production of receipts on successful completion of the examination. : 268/2007 – 08 CDO/P&HRD-LANDD/24/2007 – 08 August 11.00 postal/ courier charges). iv) The Scheme is applicable only AMFI Certified agents.2007.) i) Reimbursement of examination fees and study material will be on actual basis. : Honorarium (Vide e-Circular no.5000.100. i.750. Scheme for Reimbursement of Examination fees and Payment of Circular No.13. Presently the examination fee payable for AMFI Certification (Advisors Module) is Rs. those who have passed the AMFI Certification Test (Advisors Module) and obtained registration number from AMFI and are permitted to sell/ market Mutual Fund products. Sl.com 3. iii) The Honorarium Scheme is extended to cover such contract employees also. No. 2008 64 INSTITUTE OF CAPITAL MARKETS Tel: Email: 022-2788 3022 firstname.lastname@example.org (Rupees five thousand only).
is reproduced below. unless the offer document is explicit in this regard. for adherence by all .5 Disclose all material information related to the schemes/plans while canvassing for business. performance reports.6 Abstain from indicating or assuring returns in any type of scheme. 3.. Be fully conversant with the key provisions of the offer document as well as the operational requirements of various schemes. wrong claiming of dividend/redemption cheques.3 Provide full and latest information of schemes to investors in the form of offer documents. and urge investors to go through offer documents/key information memorandum before deciding to make investments. 3.9 Avoid commission driven malpractices such as: (a) recommending inappropriate products solely because the intermediary is getting higher commissions therefrom. portfolio disclosures and brochures. and recommend schemes appropriate for the client’s situation and needs. 2……….8 Avoid colluding with clients in faulty business practices such as bouncing cheques.2 Adhere to SEBI Mutual Fund Regulations and guidelines related to selling.65 4. and ensure that critical operations such as forwarding forms and cheques to AMCs/registrars and despatch of statement of account and redemption cheques to investors are done within the time frame prescribed in the offer document and SEBI Mutual Fund Regulations. 3. 3. 3. avoid misrepresentation and exaggeration. distribution and advertising practices.1 Take necessary steps to ensure that the clients’ interest is protected.7 Maintain necessary infrastructure to support the AMCs in maintaining high service standards to investors. etc. 3. fact sheets.4 Highlight risk factors of each scheme. 3. Code of Conduct for AMFI Certified Employees The relevant extract from AMFI Guidelines and Norms for Intermediaries dated 19th February 2002 concerned: 1……….. 3. 3.
3. and that extra commission or incentive earned should never form the basis for recommending a scheme to the client. 3.11 Ensure that all investor related statutory communications (such as changes in fundamental attributes. exit options.13 When marketing various schemes. are made with similar and comparable products. remember that a client’s interest and suitability to their financial needs is paramount. 3. or the explanation is not satisfactory. Employees in other functional areas should also be encouraged to obtain the same certification.16 All employees engaged in sales and marketing should obtain AMFI certification. even if they mean higher transaction costs and tax for investors. 3. exit/entry load. 3.12 Maintain confidentiality of all investor deals and transactions. 3. and other material aspects) are sent to investors reliably and on time. 3.66 (b) encouraging over transacting and churning of mutual fund investments to earn higher commissions. and also reduces the trend towards investors asking for pass back of commission.14 Intermediaries will not rebate commission back to investors and avoid attracting clients through temptation of rebate/gifts etc. then AMFI will initiate the following steps: _ Write to the intermediary (enclosing copies of the complaint and other documentary evidence) and ask for an explanation within a time limit of 3 weeks _ In case an explanation is not received within the time limit. AMFI will issue a warning letter indicating that any subsequent violation will result in cancellation of AMFI Registration .15 A focus on financial planning and advisory services ensures correct selling. Sequence of steps in the Event of Breach of Above “Code of Conduct” By the Intermediary If any breach of the above Code of Conduct for intermediary is reported to AMFI by either an investor or an AMC in writing.10 Avoid making negative statements about any AMC or scheme and ensure that comparisons if any.
The intermediary will have a right of appeal to AMFI . the registration will be cancelled and an intimation sent to all AMCs._ If there is a proved second violation 67 by the intermediary.
Against this backdrop.68 5. MCS/03-04/17 dated 12. there is a distinct trend towards bank branches offering their customers the entire range of financial products and services.05. it has been decided to commence selling Mutual Fund products (MFs) of SBI Mutual Fund (SBIMF) through select branches of our Retail Network. With this in view.2003) The need for leveraging our retail network and seek alternative avenues of income streams to augment our fee income and boost profitability has been engaging our attention for quite some time. . Further. cross selling the products of our Subsidiaries and Associates would enable us to exploit the synergy that exists within the SBI Group. Tie-up with SBI MF (vide CC letter no.
It has therefore been decided. by selling Mutual Fund products of companies. aware of the best products of mutual funds in the market and unless the best product is offered. In the hope of similarly increasing their penetration. the bouquet of products of different brands would be enlarged. during the current financial year and this accomplishment has been noted by other Mutual Funds in the market. The offer of UTI MF was duly considered and accepted by the Bank and an agreement to this effect was entered into with UTI MF for a period of 3 years w. In addition. Tie-up with UTI MF (vide CC Circular no.e. the customer may decide to look for the same elsewhere.69 i. Offering select products of other mutual funds is also expected to enhance the marketing ability of the branch because our customer is a discerning customer. Designated branches. Depending upon our experience in this pilot launch. 3. as a pilot project. 1st April 2006 to 31st March 2009.06) SBI Mutual Funds has successfully leveraged our Branch network to mobilize substantial subscriptions to its products including NFOs. 2. On examination. the list of centres and branches may be added/deleted and will be advised to Circles on an ongoing .f.. other than SBI Mutual Funds alone. (in all 295 branches) across the country at 48 centres (63 UTI Finance Centres) will be authorized to accept deposits (barring cash deposits) for select MF products of UTIMF. The arrangement has since been extended up to 31st March 2012. UTIMF had approached us with a proposal to market its Mutual Funds through our branch network. PBBU/MCS/06-07/01 dated 01.04. it was decided that this offer presents us with an opportunity to diversify our sources for increasing the fee based income earned by our Branches. to market select MF products of UTIMF. thereby increasing the cross selling income and also helping to retain our customers who would otherwise have migrated.
in due course. the designated branches are authorized to market the following UTI MF schemes only: Equity Schemes a) UTI Mastershare Unit Scheme b) UTI Mastervalue Fund c) UTI Dividend Yield Fund d) UTI Basic Industries Fund Balanced Schemes a) UTI Children Career Plan (Balanced) b) UTI Retirement Benefit Pension Plan c) UTI Balanced Fund 4. at all LHOs exclusively for SBI Mutual Fund. The Bank / Mutual Fund has set up a network of Investor Service Centres / co-ordinators. Presently. etc.70 basis.The preferential treatment will remain in the following manner: (i) SBI Mutual Fund products will be offered on sale at all the branches throughout the country with no restriction. SBI Mutual funds is a group company and as such we shall continue to give preferential treatment to the sale of SBI Mutual Fund products . These shall remain dedicated to SBI Mutual Funds. . (iii) The sale of products offered by UTI Mutual Funds shall be restricted to branches in some selected centres only. (ii) The ACE shall first offer the SBIMF product to the customer. in the case of competing products.
30 pm.00 p. Brokerage/Commission: enclosed at Annexure-B. Circle-wise list of designated branches is enclosed at Annexure -C . A detailed check list and operational procedure are enclosed at Annexures –A and A-I respectively. 6. 71 Accounting/Collection System : UTI MF product application forms will be accepted by the designated branches upto 2.30 pm and a copy will be sent by e-mail/fax to the local UTIMF office by 3. These applications accompanied by local cheques (no cash deposit) will be listed as detailed in Annexure –A and handed over to the local UTI collecting agent by 2.5.m . A chart showing the brokerage structure is 7.
ACE code have been affixed in the relevant boxes in the top portion of the application form. 6. 2.or more. In the case of common application form. NRO or Rupee DD issued from Abroad as per the instrument tallies with the ‘Mode of Payment’ as stated in the application form. PIN code is furnished in the applicant’s address (a must).e.000/. NRI: In the case of applications received from non-residents. Scheme name has been selected/stated y the Investor. 10. KYC done by CVL Ltd. UTI ULIP: Date of Birth and Health Declaration is mandatory. if the investment is for Rs. is furnished in all applications. Category of applicant and Holding basis have been ticked. 5. 8. Application amount and Cheque amount is one and the same. 11. Option has been ticked. Date of Birth and guardian’s name is present. 9. Scheme Specific Details UTI Retirement Benefit Pension Fund: Date of Birth is mandatory. Branch code. PAN No. NRE. SBI’s ARN Code (12195). UTI Mahila Unit Plan: Investment can be made only in the name of female.50. 3. The ACE code is to be assigned by the Branch internally for tracking purposes. .72 Annexure-A CHECK LIST FOR ACCEPTANCE OF APPLICATION 1. Further. the bank account from which the cheque is issued at the time of investment i. 7. Application is signed by all the applicants. the ‘Mode of Payment’ is stated in the application. 4. The cheque submitted alongwith the applications is a local cheque. UTI Children’s Career Plan: The child should be below 15 years of age. Minor: In the case of investment in the name of minor.
.73 UTI CRTS: Only Trusts/Societies can invest in the scheme.
Separate DSS has to be prepared for each scheme. d) Cheques should not be detached from the applications.74 Annexure “A-I” Procedure to be followed by Collecting Agent Bank (Exclusively for the business mobilised by State Bank of India) Day 1 a) Accept the sales applications with cheque upto 2. Application of one scheme should not be entered in the DSS of another scheme. (o) Investors should be kept informed by the Bank that the units will be allotted at the sale price ruling on the date of receipt of applications by UTI Financial Centre (UFC).00 pm at their counter on a daily basis. c) Enter the sales details in the Daily Sales Statement (DSS). Applications and cheques received upto 2 pm will be collected by representatives of UTI Finance Centre (UFC) before 2. b) Scrutinise all the applications and issue acknowledgement to the investors over the counter. A copy of the DSS will be sent by Fax/e-mail to the UFC by 3.30 pm Note: (n) Cash will not be accepted by any branch of SBI. .30 pm same day along with the original copy of DSS (copy enclosed). This statement should be prepared in duplicate. if the application is filled in and signed.
1. 3. 14. 4. 5.No. 15. Applicatio n No. 7. 18. 17. 6. 2. Name of Applicant Cheque no. 11. 9. 8. 13. Amount (Rs. 20. 10.) Total Amount Received No.75 (For Agency Bank in UTI Branch Locations) From : State Bank of India ______________________________ _________________________ ____________ Pin : ________ To : The Chief Manager UTI Financial Centre ________________________ ______________ Pin :_________ UTI Mutual Fund – Daily Sales Statement for Sale of Units Scheme Name : Date of Receipt : ____________ Sl. of Applications Previous Day Cumulative Total (X) Today’s Total (Y) Cumulative Total till Date (Z) = (X) + (Y) [1st April to 31st March] . 12. 16. 19.
76 Place: Date: Signature of Branch Manager
Annexure B Confidential Document for State Bank of India Commission & Load Structure Effective From 15.11.2005 Sr. No. D. Application Size Income schemes UTIUpfront 2nd 1st yr yr Trail Trail Load Entry Exit 0.50% if exited on or before 180 days from the date of investment Nil
Bond Advantage Fund
<Rs. 10 lacs
>= Rs. 10 lacs Nil Bond Advantage Fund – Institutional Plan
0.25% 0.15% Nil
<Rs. 10 lacs
0.50% if exited on or before 180 days from the date of investment Nil 0.50% if exited on or before 180 days from the date of investment
>= Rs. 10 lacs Nil
<Rs. 10 lacs
77 >= Rs. 10 lacs Nil 0.50% 0.30% Nil 0.50% if exited on or before 180 days from the date of investment Nil
Monthly Income Scheme
<Rs. 10 lacs
>=Rs. 10 lacs E. 1 Gilt schemes Gilt Advantage Fund –Long Term Plan
0.60% 0.30% Nil
Nil 1% if exited before 1 year from the date of investment (Also Refer Note 8) Nil
Gilt Advantage Fund – Long Term Plan–PF Plan)
1.00% 0.20% 0.30% Nil
3 F. 1
G-Sec Investment Plan Asset Allocation Scheme Variable Investment Scheme
< Rs. 25 crores
0.50% 0.30% Nil
>= Rs. 25 crores 1.25% 0.50% 0.30% 1.25% Nil < Rs. 2 crores > = Rs. 2 crores 1.25% 0.75% 0.40% 1.50% Nil Nil 0.75% 0.40% Nil Nil
78 Annexure C Circle Ahmedabad Bangalroe Bhubaneshwar Bhopal Chandigarh Chennai Guwahati Hyderabad Kolkatta Kerala Lucknow Mumbai New Delhi Patna Total Centres 4 4 1 3 4 6 1 5 4 2 4 14 9 2 63 Branches 19 20 5 14 20 16 4 24 20 10 20 69 44 10 295
Formatted: Centered Formatted: Centered Formatted: Centered Formatted: Centered Formatted: Centered Formatted: Centered Formatted: Centered Formatted: Centered Formatted: Centered Formatted: Centered Formatted: Centered Formatted: Centered Formatted: Centered Formatted: Centered Formatted: Centered
On examination. SBI Funds Management Ltd.e. therefore. The preferential treatment will remain in the following manner : . thereby increasing the cross selling income and also helping to retain our customers who may otherwise have migrated. 16th May 2007 to 15th May 2010. In addition.79 7. during the current financial year. 2. it was decided that this offer presents us with an opportunity to diversify our sources for increasing the fee based income earned by our Branches. is a great company and as such we shall continue to give preferential treatment to the sale of SBI Mutual Fund products. Depending upon our experience in this pilot launch. by selling Mutual Fund products of companies other than SBI Mutual Funds alone. The offer of TATA MF was duly considered and accepted by the Bank and an agreement for a tie-up was entered into with TATA MF for a period of 3 years w. MCS/07-08/10 dated 25th April 07. the list of centres and branches may be added / deleted and will be advised to Circles on an ongoing basis. 3. of TATA MF. as a pilot project. the bouquet of products of different brands would be enlarged. 4. Consequent to this accomplishment.f. MCS/07-08/6 dated 2nd June 2007) We have successfully leveraged our Branch network to mobilize substantial subscriptions for products of SBI Mutual Funds and UTI Mutual Funds including NFOs. been decided. Tie-up with Tata MF ( vide CC circular No. Designated branches at centres where TATA MF has its branches (list enclosed – Annexure I) will be authorized to accept deposits (barring cash deposits) for select MF products of TATA MF. In this regard. it has been decided to market its mutual funds through our branch network. we also request a reference to our letter no. to market select MF products only. our designated branches will market only the New Funds Offerings (NFOs) of TATA MF wherever TATA MF has its branches – Tata Finance Centres (TFC) (list enclosed – Annexure I). It has. Presently.
m.80 i) SBI Mutual Fund products will be offered on sale at all the branches throughout the country with no restriction. iii) The sale of products offered by TATA Mutual Funds shall be restricted to branches in the selected centres only. and a copy will be sent by e-mail/fax to the local TFC office by 3. ii) The ACE shall first offer the SBI MF product to the customer.m. in the case of competing products. 5.00 p.m.30 p. .30 p. These applications accompanied by local cheques (no cash deposit) will be listed as detailed in Annexure – II & II A and handed over to the local TFC collecting agent by 2. Accounting / Collection System : TATA MF product application forms will be accepted by our designated branches upto 2. A detailed check list and operational procedure are enclosed at Annexure – II and II A respectively.
No. Bangalore Bhopal Bhubaneshwar Chandigarh Chennai Delhi 8. .81 Annexure – I S. 5. 9. 10. 4. 3. Hyderabad Kolkata Lucknow Mumbai 12. 6. Circle * 1. 11. Patna Branches * Ahmedabad Rajkot Vadodara Bangalore Indore Bhubhaneshwar Chandigarh Ludhiana Channai Combatore Delhi Jaipur Jodhpur Udaipur Hyderabad Kolkata Kanpur Goa Mumbai Nashik Pune Jamshedpur * There are presently no branches (TFCs) of TATA MF in NE/ Kerala Circles. Ahmedabad 2. 7.
NRE. is furnished in the application form or in the absence of PAN. must be stamped under “Sub Broker” code to ensure payment of brokerage to branch. ACE code is affixed in the relevant boxes in the top portion of the application form. The ACE code is to be assigned by the Branch internally for tracking purposes.000/. NRI : In the case of applications received from non-residents. Application amount and Cheque amount is one and the same. PIN code is furnished in the applicant’s address (a must). • • • Application is signed by all the applicants. Category of applicant and Holding basis are ticked. • • • • • Option is ticked. Scheme name must be selected / stated by the Investor. .82 Annexure – II CHECK LIST FOR ACCEPTANCE OF APPLICATION • Ensure that SBI’s ARN Code (12195). • Minor : In the case of investment in the name of minor. Further. Date of Birth and guardian’s name is present. the ‘Mode of Payment’ is stated in the application. NRO or Rupee DD issued from Abroad as per the instrument tallies with the ‘Mode of Payment’ as stated in the application form. The cheques submitted alongwith the applications is a local cheque.e.or more.50. • In the case of common application form. 60/61 is enclosed if the investment is for Rs. PAN No. the bank account from which the cheque is issued at the time of investment i. The Branch code no. Form No. Branch Code.
Separate DSS has to be prepared for each scheme.30 pm. Applications and cheques received upto 2 pm will be collected by representatives of TATA Finance Centre (TFC) before 2. Investors should be kept informed by the Bank that the units will be allotted at the sale price ruling on the date of receipt of applications by TATA Financial Centre (TFC). Only cheques / DDs drawn on local banks/branches participating in the Clearing House will be accepted.30 pm same day along with the original copy of DSS (copy enclosed). 2. Note : 1. Cheques should not be detached from the applications.83 Annexure “II-A” Procedure to be followed by Branch (Exclusively for the business mobilized by State Bank of India) Day 1 Accept the sales applications with cheques upto 2. A copy of the DSS will be sent by fax / e-mail to the TFC by 3. . Application of one scheme should not be entered in the DSS of another scheme. Cash will not be accepted by any branch of SBI. This statement should be prepared in duplicate. Scrutinize all the applications and issue acknowledgement to the investors over the counter.00 pm at their counter on a daily basis. Enter the sales details in the Daily Sales Statement (DSS). if the application is correctly filled in and signed.
Total Amount Received No. 7. 4. 20. No. 17. (For our Designated Branches in TATA Locations) Finance Centre Branch From : To : State Bank of India TATA Finance Centre ___________________ ____________________ ___________________ ____________________ Pin : ______________ Pin : ________________ TATA Mutual Fund – Daily Sales Statement for Sale of Units Scheme Name : Date of Receipt : Sl. of Applications Previous Day Cumulative Total (X) Today’s Total (Y) Cumulative Total till date (Z) = (x) + (Y) [ 1st April to 31st March] Place: Date: Signature of Branch Manager .) 1. Application Name of Applicant Cheque No. 2. 15. 9. 10. 5. 13. (Rs.84 3. 11. Amount No. 19. 16. 6. 3. 14. 8. 18. 12.
Initially. CC letter no.85 Tie-up with Franklin Templeton MF ( vide CC Private & Confidential Circular no. the list of centres and branches may be added / deleted and will be advised to Circles on an ongoing basis. Details of the Distribution Arrangement: 3. On the 16th May 2007.2007. FRANKLIN TEMPLETON MF had approached the Bank with a proposal to market its Mutual Funds through our branch network. our designated branches will market only the New Funds Offering (NFOs) of FRANKLIN TEMPLETON MF in the manner outlined below where Franklin Templeton MF has its branches (list enclosed – Annexure II) . The offer of FRANKLIN TEMPLETON MF was duly considered and accepted by the Bank. We now advise that the Bank has entered into a distribution agreement with FRANKLIN TEMPLETON MF on the 27th June 2007 for a period of 3 years. 4.07. Designated branches at centres where Franklin Templeton MF has its branches (list enclosed – Annexure I) are authorized to accept deposits (barring cash deposits) for experience in this pilot launch. the Bank entered into a tie-up with Tata AMC as advised vide our letter no. MCS/0708/29 dated 2nd June 2007. 2. The Distribution Agreement with FRANKLIN TEMPLETON MF covers the marketing of select MF products only. Going forward our tie-up with UTI MF is also proceeding on aggressive lines. It has now been decided to proceed to the next stage by expanding our product offerings through further alliances. MCS/0809/24 dated 20th June 2008 and MCS/08-09/25 dated 19th June 2008)) The positive response by all the Circles to the SBI Infrastructure Fund NFO clearly demonstrates that the Bank has once again successfully leveraged the Branch network to mobilize substantial subscriptions for mutual fund products. MCS/D/07-08/01 dated 03.
86 5. A detailed check list and operational procedure are enclosed at Annexure – II and II A respectively.m. SBI Funds Management Ltd. 6. in the case of competing products.00 p. Accounting / Collection System : FRANKLIN TEMPLETON MF product application forms will be accepted by our designated branches upto 2. The ACE shall first offer the SBI MF product to the customer. The sale of products offered by FRANKLIN TEMPLETON Mutual Funds shall be restricted to branches in some selected centres only.m. is a group company and as such we shall continue to give preferential treatment to the sale of SBI Mutual Fund products. These applications accompanied by local cheques (no cash deposit) will be listed as detailed in Annexure – II & II A and handed over to the local Franklin Templeton Finance Centre (TFC) collecting agent by 2. The preferential treatment will remain in the following manner: SBI Mutual Fund products will be offered on sale at all the branches throughout the country with no restriction. and a copy will be sent by e-mail / fax to the local TFC office by 3. .30 p.m.30 p.
Bangalore Bhopal Bhubaneshwar Chandigarh 6. 3. Kerala Kolkata Lucknow 12. Patna Branches * Ahmedabad Rajkot Vadodara Surat Bangalore Mangalore Indore Raipur Bhubhaneshwar Chandigarh Ludhiana Jalandhar Channai Combatore Madurai Salem Trichy Delhi Jaipur Dehradun Guwahati Hyderabad Vijayawada Vishakhapatnam Kochi Thiruvananthpuram Kolkata Kanpur Lucknow Varanasi Mumbai Nasik Panaji Pune Patna . 8. Mumbai 13. No. 10. Chennai 7. Ahmedabad 2. 4. 5.88 Annexure – I S. Guwahati Hyderabad 9. Circle * 1. Delhi 8. 11.
Application amount and Cheque amount is one and the same. The Branch code no.50. is furnished in the application form or in the absence of PAN. • In the case of common application form. NRI : In the case of applications received from non-residents. 60/61 is enclosed if the investment is for Rs. NRE. Scheme name must be selected / stated by the Investor.or more. Form No. the ‘Mode of Payment’ is stated in the application. • Minor : In the case of investment in the name of minor. • With effect from 2nd July 2007 only those applications – purchase and additional purchase for which there is either a PAN Card or a proof of submission of application for PAN Card will be accepted. The cheques submitted alongwith the applications is a local cheque. NRO or Rupee DD issued from Abroad as per the instrument tallies with the ‘Mode of Payment’ as stated in the application form. Branch Code. Date of Birth and guardian’s name is present. Further. • • • • • Option is ticked.89 Annexure – II CHECK LIST FOR ACCEPTANCE OF APPLICATION • Ensure that SBI’s ARN Code (12195). must be stamped under “Sub Broker” code to ensure payment of brokerage to branch.000/. . the bank account from which the cheque is issued at the time of investment i. Category of applicant and Holding basis are ticked. ACE code is affixed in the relevant boxes in the top portion of the application form.e. PAN No. The ACE code is to be assigned by the Branch internally for tracking purposes. PIN code is furnished in the applicant’s address (a must). • • • Application is signed by all the applicants.
(For our Designated Branches in FRANKLIN TEMPLETON Branch Locations) Only cheques / DDs drawn on local banks/branches participating in the Clearing House will be accepted. . Cheques should not be detached from the applications.90 Annexure “II-A” Procedure to be followed by Branch (Exclusively for the business mobilized by State Bank of India) Day 1 Accept the sales applications with cheques upto 2.30 pm same day along with the original copy of DSS (copy enclosed).30 pm. This statement should be prepared in duplicate. 5. Application of one scheme should not be entered in the DSS of another scheme. Investors should be kept informed by the Bank that the units will be allotted at the sale price ruling on the date of receipt of applications by FRANKLIN TEMPLETON branch.00 pm at their counter on a daily basis. Applications and cheques received upto 2 pm will be collected by representatives of FRANKLIN TEMPLETON branch before 2. if the application is correctly filled in and signed. Enter the sales details in the Daily Sales Statement (DSS). Note : 3. A copy of the DSS will be sent by fax / e-mail to the FRANKLIN TEMPLETON branch by 3. Cash will not be accepted by any branch of SBI. Separate DSS has to be prepared for each scheme. 4. Scrutinize all the applications and issue acknowledgement to the investors over the counter.
13. 5. 12. 17. 15. FRANKLIN TEMPLETON Branch ____________________ Pin : ________________ FRANKLIN TEMPLETON Mutual Fund – Daily Sales Statement for Sale of Units Scheme Name : Receipt : Sl. 3. of Amount (Rs. 10. 2. 19. 4. 18. of Applications Previous Day Cumulative Total (X) Today’s Total (Y) Cumulative Total till date (Z) = (x) + (Y) [ 1st April to 31st March] Place : Date : Signature of Branch Manager . Date Name of Applicant Cheque No. 11. 7. 14. 20. 6. 16. Application No. 1. 8.) Total Amount Received No.91 From : State Bank of India ___________________ ___________________ Pin : ______________ To : The Manager. No. 9.
SBI Funds Management Ltd. Depending upon our experience in this pilot launch. The offer of FIDELITY MUTUAL FUND was duly considered and accepted by the Bank. 3. MCS/07-08/09 dated 22.2007) FIDELITY MUTUAL FUND had approached the Bank with a proposal to market its Mutual Funds through our branch network. We now advise that the Bank has entered into a distribution agreement with FIDELITY MUTUAL FUND on the 16th Aug 2007 for a period of 3 years.08.The preferential treatment will remain in the following manner: 1. SBI Mutual Fund products will be offered on sale at all the branches throughout the country with no restriction. the list of centres and branches may be added /deleted and will be advised to Circles on an ongoing basis. Designated branches at centres where Fidelity Mutual Fund has its branches (list enclosed-Annexure I) are authorized to accept deposits (barring cash deposits) for select MF products of FIDELITY MUTUAL FUND.92 Tie-up with Fidelity MF (vide CC Private & Confidential Circular no. Accounting/Collection System: FIDELITY MUTUAL FUND product application forms will be accepted by our designated branches upto . 2. The Distribution Agreement with FIDELITY MUTUAL FUND covers the marketing of select MF products only. 5. is a group company and as such we shall continue to give preferential treatment to the sale of SBI Mutual Fund products . Details of the Distribution Agreement: 2. The ACE shall first offer the SBI MF product to the customer. The sale of products offered by Fidelity Mutual Fund shall be restricted to branches in some selected centres only. in the case of competing products. 3.
No 1. 9.00 p. These applications accompanied by local cheques (no cash deposit) will be listed as detailed in Annexures–II & II A and handed over to the local branch collecting agent of Fidelity MF by 2. Circle* Ahmedabad Bangalore Chandigarh Chennai Delhi Hyderabad Kolkata Lucknow Mumbai Branches Fidelity MF* Ahmedabad Bangalore Chandigarh Chennai Delhi Hyderabad Kolkata Lucknow Mumbai Pune of * There are presently no. 7. 4. branches of Fidelity Mutual Fund in the remaining 5 Circles . 2.93 2. 8. 6.m.30 pm and a copy will be sent by e-mail/fax to the local branch of Fidelity MF by 3.30 pm. Annexure –I S. A detailed check list and operational procedure are enclosed at Annexures –II and II-A respectively. 3. 5.
e. NRE. the ‘Mode of Payment’ is stated in the application. . the bank account from which the cheque is issued at the time of investment i. The Branch code no. Form no. The cheque submitted alongwith the applications is a local cheque. Further. NRO or Rupee DD issued from Abroad as per the instrument tallies with the ‘Mode of Payment’ as stated in the application form. • In the case of common application form. • • • • Option is ticked. Application amount and Cheque amount is one and the same.purchase and additional purchase for which there is either a PAN Card or a proof of submission of application for PAN Card will be accepted • • Application is signed by all the applicants. PIN code is furnished in the applicant’s address (a must). must be stamped under “Sub Broker” code to ensure payment of brokerage to branch. • NRI: In the case of applications received from non-residents. • Minor: In the case of investment in the name of minor. With effect from 2nd July 2007 only those applications . Scheme name must be selected / stated by the Investor.94 Annexure-II CHECK LIST FOR ACCEPTANCE OF APPLICATION • Ensure that SBI’s ARN Code (12195). PAN No. Category of applicant and Holding basis are ticked. Date of Birth and guardian’s name is present. Branch code. 60/61 is enclosed.The ACE code is to be assigned by the Branch internally for tracking purposes. is furnished in the application form or in the absence of PAN. 6 A. ACE code is affixed in the relevant boxes in the top portion of the application form.
Applications and cheques received upto 2 pm will be collected by representatives of Fidelity MF Branch before 2. if the application is correctly filled in and signed. “II-A” g) Enter the sales details in the Daily Sales Statement (DSS). Only Cheques/DDs drawn on local banks/branches participating in the Clearing House will be accepted. This statement should be prepared in duplicate. Application of one scheme should not be entered in the DSS of another scheme.30 pm same day along with the original copy of DSS (copy enclosed). Separate DSS has to be prepared for each scheme.30 pm.96 Annexure Procedure to be followed by Branch (Exclusively for the business mobilised by State Bank of India) Day 1 e) Accept the sales applications with cheque upto 2. h) Cheques should not be detached from the applications. f) Scrutinise all the applications and issue acknowledgement to the investors over the counter.00 pm at their counter on a daily basis. Investors should be kept informed by the Bank that the units will be allotted at the sale price ruling on the date of receipt of applications by Fidelity MF Branch . A copy of the DSS will be sent by Fax/e-mail to the local branch of Fidelity MF by 3. Note: Cash will not be accepted by any branch of SBI.
13. 6.) Signature of Branch Manager . 15. 7. 1. 12. 10. 8. 3.(For our Designated Branches From : State Bank of India ______________________________ _________________________ ____________ Pin : ________ in 97 Fidelity MF Branch Locations) To : The Manager Fidelity MF Branch ________________________ ______________ Pin :_________ Fidelity Mutual Fund – Daily Sales Statement for Sale of Units Scheme Name : Date of Receipt : ____________ S.No. 4. 5. Name of Applicant Cheque no. 2. 11. of Applications Previous Day Cumulative Total (X) Today’s Total (Y) Cumulative Total till Date (Z) = (X) + (Y) [1st April to 31st March] Place: Date: Application No. 9. 14. Amount (Rs. Total Amount Received No.
Rules issued there under and the guidelines / circulars issued by SEBI thereto. in accordance with the Prevention of Money-Laundering Act. all transactions without PAN verification/evidence of having applied for PAN for all holders. 2007. 3. this should also be accompanied by KYC certificate issued by CVL Ltd. 2. The submission of PAN card copy (along with original for verification which will be returned across the counter) is therefore mandatory for all existing as well as prospective investors (including joint applicants / holders. As these requirements are mandatory.000 or more. are liable to be rejected. all . Investors not having a PAN need to apply for PAN immediately and applications for investments in Mutual Funds should be accompanied with evidence of having applied for PAN (copy of Form 49A) till such time PAN is allotted. effective July 2.Anti 98 Money Laundering & KYC guidelines (vide CC Circular no. The staff. MCS/0708/ dated 3rd July 2007 and MCS/07-08/19 dated 21. All investors including guardians and power of attorney holders need to complete ‘Know Your Customer’ (KYC) formalities by completing a KYC application form along with photograph. The copy of PAN card is required to be verified with the original. If the investment is for a value of Rs. or Corporate Documents for bodies corporate. who is verifying. guardians and NRIs) for investing with mutual funds from this date. irrespective of the amount of transaction. The copy of the PAN Card attested by a Bank Manager/Notary will also be accepted as verified. PAN card and Proof of Address for individuals.2008) As per Securities and Exchange Board of India (SEBI) Circular dated April 27. for each such transaction. 2002 (PMLA). Permanent Account Number (PAN) has been made the sole identification number for all participants transacting in the securities market. 4. Effective from 2nd July 2007. 2007.50.01. including guardians. will sign and affix ARN code No. 12195 of the Bank on the copy of the PAN Card. 2007 and letter dated June 25.
f. 2. the following changes have been made w. .e.000/-) a) Copy of PAN Card..000/. 2007.investors in Mutual Funds may formalities immediately. In view of the above. However.2007: (i) For transactions (fresh purchases & additional purchases) below Rs. 50. 99 please be advised to complete these 5. OR b) Evidence of having applied for PAN (49-A ) from an authorized entity.7. c) KYC certificate issued by CVL Ltd. OR b) Evidence of having applied for PAN (49-A ) from an authorized entity. 50. (ii) For transactions 9 fresh purchases & additional purchases ) for Rs.and above a) Copy of PAN Card. a subsidiary of CSDL. the evidence of having applied for PAN from an authorized entity will be accepted only upto December 31 .
CVL. investors may invest in the schemes of all mutual funds by merely attaching a copy of the KYC acknowledgement slip with the application form / transaction slip when investing for the first time in every folio (Post KYC) in each Mutual Fund. for any investment (whether new or additional purchase or SIP) of Rs. all the mutual fund companies have made special arrangements with CDSL Ventures Ltd. 3. 4. including Guardians and Power of Attorney holders. All our customers who are also mutual fund investors may please be advised to complete the formalities by submitting the enclosed KYC application form and relevant documents at the Points of Services (POS). a wholly owned subsidiary of Central Depository Services (India) Ltd.000 or more in mutual funds effective from 1st February. these POS will be the selected branches / offices of mutual funds. After that. The application forms for complying with KYC norms will be available from these POS. Investors have to provide the relevant documents and information ONLY ONCE for complying with KYC norms. Instead of repeatedly providing the requisite documents to different mutual funds in which one would like to invest. will carry out the process of KYC and issue an acknowledgement.100 Know Your Customer(KYC) Norms With effect from 1st Feb 08 In order to comply with regulatory provisions under the Prevention of Money Laundering Act 2002 and rules issued thereunder as well as related guidelines/circulars issued by SEBI. For the convenience of investors in mutual funds. To start with. 2. (CDSL). 2008. Investors will have to provide the following documents in order to be KYC Compliant: . (CVL). registrars and some of our selected branches. KYC formalities are required to be completed for all Mutual Fund Unit Holders. without the necessity of repeatedly submitting the KYC documents. 50. This facility is being provided absolutely FREE OF COST to the investors. on behalf of all Mutual Funds.
Application Form for Non-Individuals We reiterate that the process of KYC Compliance is mandatory w. .f Feb 01.amfiindia. 8.com ) and CDSL (www. 6. The application forms at Para 5 above can also be downloaded from the websites of AMFI ( www. In this context.cdslindia. Any subsequent changes in address or other details could be intimated by the investors. 7. to any of the POS (with relevant documentary evidence) and the same will be updated in all the mutual funds where the investor has invested.com) . 5. Application Form for Individuals e. List of Points of Service where KYC process can be undertaken c.e. Attestation could be done by Notary Public/ Gazetted Officer/ our Branch Manager of a Scheduled Commercial Bank. investors can also provide an attested true copy of the relevant documents. All our customers who are also mutual fund investors may please be advised accordingly. FAQs on KYC norms d. List of Documents required to complete the process of KYC b. are to be presented at the Points of Service and the originals will be returned after verification. we enclose the following for counselling our customers who are also investors in various Mutual Fund schemes: a. 2008.(a) Proof of 101 Identity (b) Proof of Address (c) PAN Card (d) Photograph The originals of these documents along with a copy each . Alternatively.
Proof of address (HUF) 1. Latest Bank Passbook/Bank Account Statement (not more than 3 months prior to the date of application) . Latest Bank Passbook (not more than 3 months prior to the date of application). Non individuals (PAN Mandatory) Companies / Bodies Corporate (Certified copy of the . 7. 6. In case investors provide more than one address. Bank account statement (not more than 3 months prior to the date of application). Any other document duly certified by local authority in the country of residence. Proof of Address (any one of the following): 1. 4. Driving License. Rent Agreement. 2. Latest Telephone Bill: Landline/Mobile (not more than 3 months prior to the date of application). Ration Card. Latest Electricity Bill (not more than 3 months prior to the date of application). proofs of both the addresses need to be provided. In case of Non Photo PAN Card in addition to copy of PAN Card any one of the following : Driving License /Passport copy / Voter ID /Bank Photo Pass Book. For Overseas Address of NRIs: Overseas Bank Account Statement (not more than 3 months prior to the date of application). Passport copy. Voter ID. Photo PAN Card 2. Alternately. For HUF Units can only be held in the name of Karta on behalf of the HUF AMFI Proof of Identity (any one of the following): 1. any of the documents listed for proof of address for an individual can be provided by the karta. 8.Copy of PAN Card of the HUF. Latest Demat Account statement (not more than 3 months prior to the date of application).102 a. List of Documents required to complete the process of KYC Prescribed Documents (PAN Mandatory) For Individual Investors Proof of Identity: 1. 3. In case the documents are in any language other than English the same must be translated to English and certified by Government Authority in country of residence or by the Indian Embassy. 9. 5. 2.
. NGO’s Charitable Bodies. Power of Attorney granted to its managers. Memorandum & Articles of Association. 4. 2. foundations. in case of registered Trusts. Certificate of Registration. in case of registered Partnership Firms. Any other valid documents in respect of holding a power of attorney to transact (Authorised Signatories List and resolution / authority to invest) (p) Offer Document of the Mutual Fund Scheme. 2. Any other officially valid documents in respect of holding a power of attorney to transact (Authorised Signatories List and resolution / authority to invest). 2. Certificate of incorporation. officers or employees to transact business on its behalf (Authorised Signatories List). Resolution of the Board of Directors authorizing investment in mutual funds. 3. Clubs/Mutual Fund Schemes (Certified copy of the following) : 1. Partnership firms (Certified copy of the following): 1. Trusts.103 following): 1.Certificates of Registration.
providing information of financial status. What are the KYC requirements for a Mutual Fund Investor? Individual investors will have to produce his Proof of identity (Photo PAN card copy or PAN card copy and copy of the passport. Where and how does one get to be KYC Compliant? Does the investor have to repeat the KYC process with every Mutual Fund? The Mutual Fund Industry has appointed CDSL Ventures Limited (“CDSL”). Applicant must be KYC compliant while investing with any SEBI registered Mutual Fund. It is important to read the instructions printed on the KYC Application Form while filling-up the form. A list of Mandatory Certified Documents to be submitted can be found in section C of the KYC application form for Non-Individual Investors. the investor needs to produce a copy of the acknowledgement to the fund where the investor desires to invest. a wholly owned subsidiary of Central Depository Services (India) Limited. You may also approach your distributor for a form. There is no need to repeat the KYC individually for each mutual fund. This would be in the form of verification of identity and address.) and Proof of Address (any valid documents listed in section B of the KYC Application Form for Individuals). CDSL and AMFI. verify documents and provide the KYC Acknowledgement (across the counter on a best effort basis). QUESTIONS ON KYC What is a KYC Application Form? A KYC Application Form has been designed for Individual and NonIndividual Investors separately. The list of PoS will be displayed on the websites of Mutual Funds. The soft copy of these KYC forms will be made available on the website of all mutual funds. AMFI and Central Depository Services (India) Limited (CDSL). to carry out the KYC compliance procedure. . Non –Individual Investors will have to produce certain documents pertaining to its constitution/registration to fulfill the KYC process. Once the KYC is duly completed in all repects. a term commonly used for Client Identification Process. CVL through its Points of Service (POS) will accept KYC Application Forms. . SEBI has prescribed certain requirements relating to KYC norms for Financial Institutions and Financial Intermediaries including Mutual Funds to ‘know’ their Clients. occupation and such other demographic information.104 FREQUENTLY ASKED What is KYC? KYC is an acronym for “Know your Client”. driving license etc.
This would also apply to new Systematic Investment Plan (SIP) transactions on or after 01 February 2008. the claimant should submit his/her KYC Acknowledgement along with the other relevant documents to effect the transmission in his/her favour . To whom is a KYC applicable? Is there any exemption? Currently.Should the investor Compliance? visit PoS 105 personally to obtain KYC No. who can arrange to fulfill the KYC obligation and obtain the KYC Acknowledgement through any of the PoS. are required) to be individually KYC compliant before they can invest with any Mutual Fund.e. Minors: In case of investments in respect of a Minor. Financiers will have to be KYC compliant at the time of Lien Marking. For transmission (In case of death of the unit holder): If the deceased is the sole applicant. in case of three joint holders.50. the holder of PoA). e. both of whom should be KYC compliant in their independent capacity and attach their respective KYC Acknowledgements while investing. in order to be able to transact further in his/her own capacity. The Minor.e. 50. From what date is it mandatory for an investor to be KYC Compliant? With effect from 01 February 2008. . Investor) and the Attorney (i. the KYC Application Form along with the necessary documents (including originals if the copies are not attested) can be sent through the distributor or representative. the Guardian should be KYC compliant and attach their KYC Acknowledgement while investing in the name of the minor. 50.000 or above will be required to be KYC Compliant. Please find the list of personnel who are required to be KYC compliant: Joint Holders: Joint holders (including first.000. if each installment of value greater than or equal to Rs. all investors (Individuals or Non Individuals) who wish to make an investment of Rs. If the investor is not in a position to visit PoS personally. should immediately apply for KYC compliance in his/her own capacity and intimate the concerned Mutual Fund(s). all holders need to be KYC compliant and copies of each holder’s KYC Acknowledgement must be attached to the investment application form with any Mutual Fund. any investor investing Rs.g. second and third if any. upon attaining majority. Power of Attorney (PoA) Holder: Investors desirous of investing through a PoA must note that the KYC compliance requirements are mandatory for both the PoA issuer (i.000 and above would be required to be KYC compliant.
2 nd & 3 rd holder by completing the necessary formalities and the investor’s return to make a fresh investment. it will be registered against the folio and quoted in all future account statements. Once the KYC Acknowledgement is obtained and informed to a Mutual Fund. Applications Forms / Transaction Slips not accompanied by KYC Acknowledgement are liable to be rejected by the Mutual Funds. 50. Once an account is opened with a Mutual Fund by 1 st. Is there a charge I need to pay to get myself KYC Compliant? Currently. further investments will not be permitted. In case of existing investors when and how will the KYC norms be introduced? KYC norms are applicable to all investors. you will not be able to invest Rs. Does the KYC Acknowledgement have an expiry date? No.000 or more in a Mutual Fund. KYC is being done free of cost. If you do not obtain a KYC Acknowledgement. It is in the interest of all Investors to obtain KYC Acknowledgement and submit it to the Mutual Fund to avoid any inconvenience in future.How does the investor transact in KYC process? 106 Mutual Fund after completing the Investors must attach their KYC Acknowledgement along with the Investment Application Form(s) / Transaction Slip(s) while investing for the first time in every folio. each of the holders in these folios/accounts should be KYC Compliant. . What are the consequences of KYC cancellation/rejection? In the event of any KYC Application Form being found deficient for lack of information / insufficiency of mandatory documentation. What happens if I have multiple folios/ accounts with a Mutual Fund? You can inform the Mutual Fund to update the KYC Acknowledgement against all the folios/accounts you have with it. do they need to furnish the necessary documents again? Investors must attach their KYC Acknowledgement along with the Investment Application Form(s) / Transaction Slip(s) while investing for the first time in every folio. The same will exist in perpetuity. unless cancelled by CVL. However.
. The same duly completed along with the necessary attested documents can be submitted at the PoS or mailed to your representative or Distributor who can complete the KYC formalities for you. Are there any special requirements for an NRI? Yes. The specified form can be obtained from the AMFI/Mutual Fund website. How do I get myself KYC Compliant? The soft copy of these KYC forms will be made available on the website of all Mutual Funds. he will need to submit a certified true copy of the PIO Card. You need to quote / submit a copy of your KYC Acknowledgement. on completing 18 years of age). additionally. along with other details such as the Bank Details. All details of the holders in the Mutual Fund records will be replaced by the address details available in the CVL record. he/she must be KYC Compliant and have KYC Acknowledgement of their own. In addition to the certified true copy of the passport. Whom do I inform about change of Name/Address/Status/Signature etc? You should intimate your change of Name / Address / Status /Signature etc. and proof (in case of new address). Please note that you should not write to the Mutual Fund or its Registrar for the change of address (unless as a designated PoS). However.107 I am an NRI residing outside India. The documents can be attested. they have to be translated to English for submission. by the Consulate office or overseas branches of scheduled commercial banks registered in India Is there any special requirement for a PIO (Person of Indian Origin)? The requirements applicable to an NRI will also apply to a PIO. certified true copy of the overseas address and permanent address will also be required. AMFI and Central Depository Services (India) Limited (CDSL). What about Minor becoming Major? Upon a Minor attaining the age of majority (i. If any of the documents (including attestations/ certifications) towards proof of identity or address is in a foreign language. to any convenient PoS. Signature. You may also approach your distributor for a form. You should provide for at least 7 days for the change of address to take effect with all the Mutual Funds with whom you are invested. The same should be informed to the Mutual Fund where he/she holds an investment.e. etc as per the present requirements of such Mutual Fund.
As such. What do I do once I have received my KYC Acknowledgement? Once the investor is KYC compliant. Time stamping is not required on the KYC Acknowledgement. The same will be updated in the records of the Mutual Fund. Why do I need to give my Income details? How can I be sure that it will not be misused? As per PMLA. For signature difference in investor request. Please note that no proof / income documents are required. it will be required to intimate his KYC details to all the Mutual Funds with whom it has investments. it is mandatory for Mutual Funds to obtain financial status details from its investors.108 If I am already providing my PAN/PAN Proof for my investment in Mutual Fund. I you find an increased/decrease in your income. Mutual Funds generally ask for a banker attestation. changed the income bracket that you have declared in the KYC Application form. No proof is needed. you should apply to any convenient PoS in the specified form. Which of the forms require being time-stamped? KYC Acknowledgement will be done on the photocopy of the form. Mutual Funds may follow extra due-diligence if signatures . Can an investor give a COA (Change of Address) along with redemption request? The redemption transaction accompanied by a KYC Acknowledgement form is likely to be processed without effecting the change of address request. It is for this reason that the Income details are sought. However. the current requirement for KYC requires the Mutual Fund to verify identity. Is that not sufficient for meeting the requirement of KYC? The requirement of providing your PAN along with proof is sufficient for proof of identity. Since a signature is not available with identity proof. Do I need to inform about my change of Income status? Yes. will you still insist on banker attestation for signature difference? Signature verification is done by Mutual Funds to protect an investor from losses. which would effectively. Is the KYC Acknowledgement a separate form or is it a part of the Mutual Fund application. address as well as obtain further information about the investor. The information given you in the KYC Application form will be treated in a confidential manner and used for regulatory purposes if called for.
Scenario 2 If the KYC (MIN) was completed without submitting the PAN but with other proof of identity documents. for such cases. such as getting Bank attestation transactions. for such What if I have already completed the earlier KYC (MIN) procedure with CVL? Scenario 1 If the KYC (MIN) was completed by submitting the PAN. . CVL will send out a communication to the respective investors requesting them to submit self attested copy of PAN card for KYC compliance. This could be independent of the KYC procedure.109 are not matching. the Acknowledgement obtained at that time can be enclosed along with the Investment Application Form(s) / Transaction Slip(s) while investing for the first time in every folio as the PAN number will be stated on the said acknowledgement. You need not repeat the process now.
d. Application Form for 110 Individuals .
112 e) Application Form for Non Individuals .
No.114 List of Point of Services (POS) Location AGARTALA Name and Address Contact Person Tel.HITESH SHAH INVESTOR SERVICES LIMITED 101.799 001 TRIPURA BAJAJ CAPITAL DINESH INVESTOR SERVICES YADAV LIMITED SHOP NO. KUMAR 0381-2319823 BAJAJ CAPITAL ACHINTAY INVESTOR SERVICES BHUIYA LIMITED 38.380 015 GUJARAT INFRASTRUCTURE MR. / Fax No.NALANDA HOTEL ELLISBRIDGE AHMEDABAD .282 002 UTTAR PRADESH AGRA SINGH 0562-2521448/4000953 AHMEDABAD BAJAJ CAPITAL MR. SANJAY PLACE AGRA .SILLICON VALLEY NR.AMIT PATEL INVESTOR SERVICES LIMITED 2-L. GROUND FLOOR.SHIVRANJINI CHAR RASTA SATELLITE ROAD AHMEDABAD .AKIK'.380 006 GUJARAT BAJAJ CAPITAL MR. 110. WEST AGARTALA AGARTALA AGARTALA . BLOCK NO.LIONS HALL MITHAKHALI SIX ROAD.OPP. 27/2/4. AKHAURA ROAD PS. NR.SHAILAM DAVE 079-30072782 AHMEDABAD 079-30006541 AHMEDABAD 079-30072013 . NEAR HOTEL PANCHRATTAN.
CARGO MOTORS.380 006 GUJARAT DEUTSCHE INVESTOR MAULIK A SHAH SERVICES PVT. EDWARD KARVY COMPUTERSHARE PVT. AHMEDABAD . 403-404 RAINDROP BUILDING OPP CARGO MOTORS C G ROAD AHMEDABAD . C. BALAJI ENTERPRISES (INDIA) 079-30072013 AHMEDABAD 079-26402967 26400527 AHMEDABAD 9879026229 AHMEDABAD 079-26443289/7825 . 307.G.380006 GUJARAT AHMEDABAD MR. ROAD OPP. R.115 LEASING & FINANCIAL SERVICES LTD. G. NAVRANGPURA TEL. EXCHANGE AHMEDABAD . MADHUSUDHAN HOUSE NR.380006 GUJARAT MR. 403-404 RAINDROP BUILDING OPP. SHAIL BLDGS. LTD. G. GROUND FLOOR MSQUARE BLDG C G ROAD AHMEDABAD GUJARAT INTEGRATED MT. LTD. HASIT DESAI INFRASTRUCTURE LEASING & FINANCIAL SERVICES LTD.ROAD. OFF: C.
BEHIND LAL BUNGALOW Ahmedabad .F-5. B-14 CAPITAL COMML CENTRE. INDIRA BHAWAN.380006 Gujarat BAJAJ CAPITAL AMIT SINGH VERMA INVESTOR SERVICES LIMITED GROUND FLOOR. I FLOOR.26587276/ 77 Ahmedabad COMPUTER AGE MUKESH SHAH MANAGEMENT SERVICES PVT. AJMER TOWER. ALLAHABAD . LTD. SAKAR II ELLISBRIDGE CRONER ASHRAM ROAD AHMEDABAD . 402-406. 207 & 208. 4TH FLR. AJMER 305001 RAJASTHAN BAJAJ CAPITAL RISHI CHOPRA INVESTOR SERVICES LIMITED SHOP NO.380 009 GUJARAT AHMEDABAD KOTAK SECURITIES VISHAL SHAH LTD. SHOP NO.211001 UTTAR PRADESH 079-30082468 AJMER 0145-2621312/3208899 ALLAHABAD 0532-2605648 3207089 .116 LTD. DEVPATH BLDG.380 006 GUJARAT 079. 12. CIVIL LINES. NEXT TO SANYAS ASHRAM ASHRAM ROAD AHMEDABAD .
RSA TOWERS.560 003 KARNATAKA 23564156 BANGALORE BAJAJ CAPITAL MR.560 001 KARNATAKA 0341-2216180 BANGALORE SETH 080 .211 001 UTTAR PRADESH 117 MR SHISHIR 0532-3294280/81 SRIVASTAVA ASANSOL BAJAJ CAPITAL SANJIT SEN INVESTOR SERVICES LIMITED 1ST FLOOR 76. ASHWIN KUMAR 23387896 INVESTOR SERVICES . ABOVE SONY TV SHOWROOM 57. ROAD BANGALORE .S LIMITED 293/1. LIMITED UNIT NO.V INVESTOR SERVICES LIMITED NO. 2ND FLR. CIVIL LINES ALLAHABAD . MITTAL TOWERS. M. 17TH MAIN ROAD IIIRD BLOCK RAJAJI NAGAR BANGALORE .K 26530302 BANGALORE .560 010 KARNATAKA BAJAJ CAPITAL MS.713303 WEST BENGAL BAJAJ CAPITAL PRATEEK INVESTOR SERVICES A. (ABOVE KARNATAKA BANK) MALLESHWARAM BANGALORE . SAMPIGE ROAD NEAR 11TH CROSS.ALLAHABAD KARVY COMPUTERSHARE PVT.23564156 BANGALORE BAJAJ CAPITAL ANANDAGOPAL . S P MARG.P.197. 104107. LTD.V.FIRST FLOOR A WING. VANITHA C.G. G T ROAD NEAR BANGHAPANCHIL ASANSOL .
81. 4. ASHWIN KUMAR 25212365 INVESTOR SERVICES S LIMITED 759. MADHAV DARSHAN WAGHAWADI ROAD BANGALORE . MEHUL KARVY COMPUTERSHARE PVT. 8TH MAIN ROAD.364 001 GUJARAT 0278-2525005/06 BANGALORE . SHRI JAYALAKSHMI NIVASA 100 FT ROAD.ACRM 23140803 INVESTOR SERVICES LIMITED NO. 134/135.122. 3RD BLOCK JAYA NAGAR BANGALORE . VIJAYA NAGAR BANGALORE .LOHIT T INVESTOR SERVICES LIMITED RAHEJA ARCADE. INDIRA NAGAR.560 034 KARNATAKA 25635596 BANGALORE BAJAJ CAPITAL MR.560 040 KARNATAKA MR. OPP SBI PERSONAL BANK INDIRA NAGAR BANGALORE .560 038 KARNATAKA BANGALORE BAJAJ CAPITAL MR.RAMESH R . LTD. 1ST FLOOR NO. KORAMANGALA BANGALORE . LAKSHMI MANSION 81/B.118 INVESTOR SERVICES LIMITED NO. 20TH MAIN 18TH CROSS.560 011 KARNATAKA BANGALORE BAJAJ CAPITAL MR.
STOCK EXCHANGE TOWERS 51.560 001 KARNATAKA INTEGRATED MR.560 027 KARNATAKA 080-25320085 32008452 BANGALORE SESHADRI 080-22995646/48/49 BANGALORE COMPUTER AGE GIRIJA RAMAN MANAGEMENT SERVICES PVT. RAGHU KARVY COMPUTERSHARE PVT. J C ROAD. BASAVANGUDI BANGALORE . NO. UMIYA LANDMARK. INFRASTRUCTURE LEASING & IYENGAR FINANCIAL SERVICES LTD. 1ST FLOOR SURYA BUILDING. NO 51/2 TKN COMPLEX. 1ST FLOOR. BANGALORE . 1ST CROSS. LTD. SRINIVASAN ENTERPRISES (INDIA) 080-30574709 BANGALORE 080-66128024 BANGALORE 080-23446386/1470 .560 025 KARNATAKA MR.NATARAJAN 080-26613400 BANGALORE MR. 45 DIKENSEN ROAD NEXT TO MANIPAL CENTRE BANGALORE . LAVELLE ROAD BANGALORE . LTD. LTD.BANGALORE KARVY COMPUTERSHARE PVT. 54/25. 1ST FLOOR 10/7.560 004 KARNATAKA 119 MR. RICHMOND ROAD BANGALORE . RATNA AVENUE. TRADE CENTRE. OPP TO NATIONAL COLLEGE.560 042 KARNATAKA KOTAK SECURITIES P MURLI LTD.
NO.6. 5TH CROSS MALLESWARAM BANGALORE .120 LTD. ZONE-I.560 003 KARNATAKA BANGALORE DEUTSCHE INVESTOR DATTA WADAVLI SERVICES PVT. LTD. RAMANUJA PLAZA GROUND FLOOR. JYOTI CINEMA COMPLEX.NAGAR. KARVY RATHORE COMPUTERSHARE PVT. IDBI BANK NEHRU NAGAR BHILAI 490020 CHATTISGARH KUMAR 9430204791 BHAGALPUR BHILAI KUMAR 0788-4050509 BHOPAL BAJAJ CAPITAL MANISH NAHARE INVESTOR SERVICES LIMITED SHOP NO.560 001 KARNATAKA BAJAJ CAPITAL SUSHIL INVESTOR SERVICES SINGH LIMITED 2ND FLOOR CHANDRALOK COMPLEX NEAR GHANTAGHAR BHAGALPUR . LTD. KAY KAY BUSINESS CENTRE 133. M. 0755-2571342 4229297 BHOPAL SACHIN 0755-3010725/26/27/28 .1 NO: 29 M G ROAD BANGALORE .P. 104. BHOPAL 462001 MADHA PRADESH MR. ZONE 1.812001 BIHAR BAJAJ CAPITAL SANJEEV INVESTOR SERVICES GUPTA LIMITED 2/3 NEHRU PARISOR OPP. NO. FIRST FLOOR. 12. PRESTIGE MERIDIAN .
751 007 ORISA COMPUTER AGE SUBRAT MISHRA MANAGEMENT SERVICES PVT. 1ST FLOOR SECTOR 17-C CHANDIGARH .O . 624.751 001 ORISA BAJAJ CAPITAL CHANDAN INVESTOR SERVICES MOHAPATRA LIMITED METRO PLAZA 2ND FLOOR A-410. LTD. SAHID NAGAR.160 0674-6510271 0674-2547531/32/33 BHUBANESWAR BHUBANESWAR CHANDIGARH 0172-2621865 5089190 CHANDIGARH .121 M. 1ST FLOOR. BHUBANESWAR . JANPATH.C. PRATAP SAHOO KARVY COMPUTERSHARE PVT. P. 101/ 5. DEEPAK TOWERS SCO 154-155. LTD. FIRST FLOOR SEC-35 B CHANDIGARH 160009 CHANDIGARH COMPUTER AGE RAMESH BHATIA MANAGEMENT SERVICES PVT. UNIT III NEAR HOTEL SWASTI BHUBANESWAR .462 011 MADHA PRADESH BHUBANESWAR MR. LTD.341-342. NAGAR BHOPAL . SAHID NAGAR BHUBANESWAR 751007 ORISA BAJAJ CAPITAL LALIT MALHOTRA INVESTOR SERVICES LIMITED S.
122 017 PUNJAB CHANDIGARH SANJAY DABAS INFRASTRUCTURE LEASING & FINANCIAL SERVICES LTD.9 . CHIEF CITY METROPOLITAL COURT NO.O 14-15 1ST FLOOR SECTOR 9-D MADHYA MARG CHANDIGARH . F 11.160 017 CHANDIGARH MS. PAWAN 0172-2741483 INFRASTRUCTURE LEASING & KHANDELWAL FINANCIAL SERVICES LTD.14 & 15 (FIRST FLOOR) SECTOR. 1 ST FLOOR ABOVE HDFC BANK SECTOR 35 B CHANDIGARH . LTD. LTD. N V V PRASAD KARVY COMPUTERSHARE PVT. S. 1ST FLOOR. SCO-371-372. 108.600 002 TAMILNADU 0172-5071726/27/28 CHANDIGARH CHENNAI 044-42028512/13 28277383 .160 022 CHANDIGARH MR. SCO .C.D MADHYA MARG CHANDIGARH 160009 CHANDIGARH 0172-741483 CHANDIGARH MR. EGMORE CHENNAI . ADHITHANAR SALAI. PRIYA SHARMA KARVY COMPUTERSHARE PVT. AKSHYA PLAZA OPP.
2ND FLOOR FIRST MAIN ROAD. GROUND FLR. LTD. ADYAR CHENNAI . HOTEL PALMGROVE NUNGAMBAKKAM CHENNAI . OLD 141.600 020 TAMILNADU 044-45504364/68 CHENNAI 45504364 . CHENNAI TAMIL NADU INTEGRATED MS.13/2.178/10. KODAMBAKKAM HIGH ROAD OPP. GANDHI NAGAR. 9444123024 044 .600 020 TAMILNADU PRAKASH INFRASTRUCTURE LEASING & SWAMINATHAN FINANCIAL SERVICES LTD.600 034 TAMILNADU DEUTSCHE INVESTOR RAMYA S P SERVICES PVT.123 CHENNAI MS. OPP. 1ST FLOOR MOUNT RD. LTD. ROYELLA TOWER. SAVITHRI ENTERPRISES (INDIA) LTD. "RAMKOTI".42630104 CHENNAI CHENNAI 044-28140801/02/03 . NO. "RAMKOTI" NO. NEW 193. SHOBA IYER INFRASTRUCTURE LEASING & FINANCIAL SERVICES LTD.8 CHENNAI 044-39115563 COMPUTER AGE G SATHYANARAYANAN MANAGEMENT SERVICES PVT. NO. NEXT TO RAHEJA TOWER. 2ND FLOOR FIRST MAIN ROAD GANDHI NAGAR CHENNAI . 13-2.
600 017 TAMIL NADU CHENNAI KOTAK SECURITIES RAMA SRINIVASAN LTD.K. OLD NO. NAGAR CHENNAI . ADYAR CHENNAI . ANNA SALAI CHENNAI . SIVA KUMAR.124 42/1 MOTILAL STREET T NAGAR CHENNAI .600 004 TAMILNADU BAJAJ CAPITAL R. V.B.D.R.SEKAR INVESTOR SERVICES MANAGER LIMITED NEW NO. 7 R.12 BURKIT ROAD. ROAD.600 020 TAMILNADU BAJAJ CAPITAL A.600 017 TAMIL NADU BAJAJ CAPITAL GEORGE INVESTOR SERVICES SR.SRINIVASALU . T.P. T. LIMITED III FLOOR.23451243 CHENNAI .600 002 TAMILNADU THOMAS 04424312041 24331697 CHENNAI .23451232 INVESTOR SERVICES AREA MANAGER LIMITED K. OLD NO.23451234 CHENNAI BAJAJ CAPITAL P. L. WELLINGTON PLAZA 90.36. MUTT ROAD MYLAPORE CHENNAI .S.29.600 017 TAMILNADU 23451241 CHENNAI AREA 23451230 CHENNAI BAJAJ CAPITAL G. GRR BUSINESS CENTRE NEW NO.12. 21 VAIDYARAM STREET. BUILDINGS NO.NAGAR CHENNAI .BHARATHI INVESTOR SERVICES LIMITED NO.
PLOT NO.600 040 TAMILNADU CHENNAI BAJAJ CAPITAL G. M. FIRST FLOOR 3RD AVENUE. TAMBARAM ROAD VELACHERY CHENNAI .125 INVESTOR SERVICES AREA MANAGER LIMITED W111.N. 37/C. MANIKANDAN INVESTOR SERVICES LIMITED SHOP NO. SECRETARIAT COLONY.R.600 042 TAMILNADU BAJAJ CAPITAL M.3 29TH STREET NANGANALLUR CHENNAI .T.PLOT NO.66 SHOP NO.600 053 TAMILNADU BAJAJ CAPITAL P. GROUND FLOOR VIKAS PLAZA.H.S. NEELAKANDAN INVESTOR SERVICES LIMITED YES YES ARCADE.600 041 TAMILNADU BAJAJ CAPITAL MAHALAKSHMI INVESTOR SERVICES LIMITED SHOP NO.SURESH INVESTOR SERVICES LIMITED NO.5. ANNA NAGAR CHENNAI .1/575 EAST COAST ROAD. ROAD AMBATTUR CHENNAI .24.4. KOTTIVAKKAM CHENNAI .600 061 TAMILNADU BAJAJ CAPITAL VEDAMURTHY INVESTOR SERVICES LIMITED 23451284 CHENNAI 22434994 CHENNAI 23451245 CHENNAI 23451228 CHENNAI 23451257 .
40 / 9633 D.V. LTD. INFRASTRUCTURE LEASING & KANNAN FINANCIAL SERVICES LTD.4. 39/4967. 39/4967 USNAZ TOWERS. LIMITED RUBICON BUILDING S.A.P.682 016 KERALA JACOB .600 083 TAMILNADU COCHIN BAJAJ CAPITAL JOHCNY INVESTOR SERVICES A.4119111 COCHIN COMPUTER AGE GEORGE VARGHESE MANAGEMENT SERVICES PVT. VALANJAMBALAM COCHIN . PALLIMUKKU . ROAD.110.682 035 KERALA COCHIN KAMALAKANNAN INFRASTRUCTURE LEASING & FINANCIAL SERVICES LTD.USNAZ TOWERS. VEEKSHANAM ROAD NEAR INTERNATIONAL HOTEL COCHIN .0484.126 SHOP NO. M G ROAD COCHIN 682016 KERALA MR. 3RD FLR MEDICAL TRUST 0484-4082066/099 COCHIN KAMALA 0484-4028066 . 3RD FLOOR MEDICAL TRUST HOSPITAL JN. SOUTH OVER BRIDGE. TRINITY COMPLEX NO. 4TH AVENUE ASHOK NAGAR CHENNAI .
ABOVE ICIC BANK LTD D B ROAD. 1ST FLOOR. R S PURAM COIMBATORE .641 002 TAMILNADU MR. 424-E RED ROSE TOWERS 2ND FLOOR. LTD. 39.682 016 KERALA COCHIN MR.641 005 TAMILNADU COMPUTER AGE KALPANA V MANAGEMENT SERVICES PVT. M G ROAD COCHIN .682 036 KERALA S KRISHNAN INFRASTRUCTURE LEASING & FINANCIAL SERVICES LTD.127 HOSPITAL JUNCTION PULLIMUKKU. S KRISHNAN INFRASTRUCTURE LEASING & FINANCIAL SERVICES LTD.641 002 TAMILNADU 0484-4010273 2322152 COIMBATORE 0422 4216657 COIMBATORE 0422-2321657 COIMBATORE .S. OLD # 66 NEW # 86.PURAM COIMBATORE . KARVY RAMACHANDRAN COMPUTERSHARE PVT. PANAMPILLY NAGAR COCHIN . LOKAMANYA STREET GROUND FLOOR R. LTD. SOUTH WING 683-686 COIMBATORE STOCK EXCHANGE BLDG TRICHY ROAD COIMBATORE .
D.PURAM. 67/3 (NEW NUMBER 375) OPP. MEEDO PLAZA RAJPUR ROAD DEHRADUN . LIMITED NO.S. KARVY VASUDEV COMPUTERSHARE PVT. LTD.P.248 001 UTTARANCHAL 0422 .641 002 TAMILNADU BAJAJ CAPITAL DINESH KUMAR INVESTOR SERVICES LIMITED 184. FIRST FLOOR. PRADEEP KUMAR 0422 -4440003 INVESTOR SERVICES .575.V.COIMBATORE 128 BAJAJ CAPITAL K. ROAD.4364368 COIMBATORE DEHRADUN 0135-2742096 3956717 DEHRADUN PANKAJ 0135-3258246 DUBAI KARVY COMPUTERSHARE 971-50-2081665 .641 004 TAMILNADU BAJAJ CAPITAL SATYENDRA NEGI INVESTOR SERVICES LIMITED POKHRIAL HOUSE.248001 UTTARAKHAND MR. R. KAULAGARH ROAD NEAR SIRMAUR MARG ABOVE RELIANCE WEB WORLD DEHRADUN . COIMBATORE .B.P. AVINASHI ROAD OPP : VARADARAJA MILLS PEELAMEDU COIMBATORE .
SN.58. GROUND FLOOR.4020420 INVESTOR SERVICES AREA MANAGER LIMITED AANOOR COMPLEX.CHOWK.0424 . AMBEDKAR SARANI CITY CENTRE DURGAPUR .10.121001 HARYANA BAJAJ CAPITAL RAHUL ARORA INVESTOR SERVICES LIMITED G-5. 503. FARIDABAD . GHAZIABAD . RAJ NAGAR.638 003 TAMILNADU BAJAJ CAPITAL AJAY VIKRAM SINGH INVESTOR SERVICES LIMITED 5R/1. DUBAI DURGAPUR COMPUTER AGE FALGUNI GHOSH MANAGEMENT SERVICES PVT. VAISHALI 95129-2414005 ERODE FARIDABAD GHAZIABAD 95120-2824330/2822407 GHAZIABAD KUMAR 95120-4349460/1 . AL.MUSALLA TOWER.713 216 WEST BENGAL BAJAJ CAPITAL D. NEAR HDFC BANK. 4. SHOP NO. BANK STREET. LTD. B. VEERAPATHRA STREET.201002 UTTAR PRADESH BAJAJ CAPITAL PRAVEEN INVESTOR SERVICES PANDEY LIMITED LAJWANTI PLAZA.K. DISTRICT CENTRE. LTD. NO.SATHISH KANNAN. SECTOR 4. ANSALS SATYAM BUILDING.129 PVT. SATHY ROAD ERODE .
122002 HARYANA 0832-2234353/54/2426066 GOA GORAKHPUR 99355-23688 GURGAON 95124-2332590 2334177 4062590 GURGAON 95124-2561388 4052672 .5 SANDEEP APARTMENT NEAR HOTEL SAMRAT PANAJI GOA GOA BAJAJ CAPITAL ASHUTOSH SINGH INVESTOR SERVICES LIMITED AD TOWER. LTD.GR FLOOR. 1ST FLOOR.201012 UTTAR PRADESH GOA COMPUTER AGE VIVEKANAND MANAGEMENT SERVICES PVT. GURUDUTTA BLDG ABOVE WEEKENDER M G ROAD GOA 403 001 GOA SOWJNAYA DEEPTHI INFRASTRUCTURE LEASING & FINANCIAL SERVICES LTD.273001 UTTAR PRADESH BAJAJ CAPITAL DHEERAJ CHADHA INVESTOR SERVICES LIMITED 102. BANK ROAD GORAKHPUR . 3.108. NO.130 GHAZIABAD . UPPER GROUND FLOOR.SECTOR 14 OPP.4. DLF CITY. DLF CENTRAL ARCADE.122001 HARYANA BAJAJ CAPITAL ANKUR GAUTAM INVESTOR SERVICES LIMITED 269. PHASE-II GURGAON .AKD TOWER.NATHU SWEETS GURGAON .
131 BAJAJ CAPITAL SAURAV INVESTOR SERVICES KASHYAP LIMITED 3RD FLOOR TILOTTAMA ENCLAVE GNB ROAD, AMBARI GUWAHATI - 781001 ASSAM MR. SANJAY KARVY COMPUTERSHARE PVT. LTD. 2ND FLR, RAM KUMAR PLAZA CHATRIBARI ROAD, NEAR HIMATSHINGA PETROL PUMP GUWAHATI - 781 001 ASSAM
BAJAJ CAPITAL SURAJIT BANERJEE INVESTOR SERVICES LIMITED GAGANANCHAL COMPLEX SHOP NO. 38A 37, DR. ABANI DUTTA ROAD HOWRAH - 711106 WEST BENGAL
040 -23230288 BAJAJ CAPITAL RAYALA INVESTOR SERVICES SATHYANARAYANA A.V.P LIMITED B-140, BABUKHAN ESTATE BASHEERBAGH HYDERABAD - 500 001 ANDHRA PRADESH BAJAJ CAPITAL M.SHYAM KUMAR INVESTOR SERVICES LIMITED SHOP NO. 10, 1ST FLOOR MINERVA COMPLEX, 94, S.D. ROAD SECUNDERABAD HYDERABAD - 500 003 27721033
132 ANDHRA PRADESH HYDERABAD BAJAJ CAPITAL MR. RAJA RAO INVESTOR SERVICES LIMITED SHOP NO.4, GROUND FLOOR SWARNAJANTHI COMPLEX (HUDA) AMEERPET HYDERABAD - 500 016 ANDHRA PRADESH BAJAJ CAPITAL MR.VIJAYA KUMAR INVESTOR SERVICES LIMITED NO.3/MIG-1, NEAR ICICI BANK, K.P.H.B. COLONY, KUKATPALLY HYDERABAD - 500 072 ANDHRA PRADESH 23737518
MR. P. NAGESHWARA 040-23312454 KARVY RAO COMPUTERSHARE PVT. LTD. 21, AVENUE 4, STREET NO. 1 BANJARA HILLS, HYDERABAD - 500 034 ANDHRA PRADESH H V SRIVIDYA INFRASTRUCTURE LEASING & FINANCIAL SERVICES LTD. 6-3-907, III FLOOR CHALLA CHAMBERS RAJ BHAVAN ROAD SOMAJIGUDA HYDERABAD - 500082 ANDHRA PRADESH MS. H. V. SRIVIDYA INFRASTRUCTURE LEASING & FINANCIAL SERVICES LTD. 6-3-907, 3RD FLOOR, CHALLA CHAMBERS ABOVE MAHAVIR 66252242 AND 66252243
133 AUTO RAJ BHAVAN ROAD, HYDERABAD - 500 082 ANDHRA PRADESH HYDERABAD KOTAK SECURITIES VENKATESWARA REDDY LTD. 9-1-164, GROUND FLOOR AMSRI PLAZA S. D. ROAD HYDERABAD - 500 003 ANDHRA PRADESH 9885189001
MR. 040-23242375/472 INTEGRATED ENTERPRISES (INDIA) VENKATESHWARULU LTD. NO.5-10-197/A, G4, 1ST FLOOR RELIANCE KRISHNA APTS, NAVAD PAHAD, HILL FORT ROAD, HYDERABAD - 500 004 ANDHRA PRADESH DEUTSCHE INVESTOR SERVICES PVT. LTD. 6-3-1093/UG-3 (A&B) VINTAGE BOULEVARD, RAJ BHAVAN RD, HYDERABAD ANDHRA PRADESH KOTAK SECURITIES SACHIN SHAH LTD. 314 & 416, CITY CENTRE 570 M. G. ROAD INDORE - 452 001 MADHA PRADESH COMPUTER AGE KAVITA DALAL MANAGEMENT SERVICES PVT. LTD. 101, SHALIMAR CORPORATE CENTRE 8-B, SOUTH TUKOGUNJ, OPP.GREENPARK INDORE - 452 001 9826065068
ANUCAMPA TOWER. 106 & 107 ABOVE STANDARD CHARTERED BANK NEAR JANGEERWALA CHOWRAH INDORE . CHURCH ROAD JAIPUR 302001 RAJASTHAN MR. LTD. DM TOWER.3.KHILNANI MANAGEMENT SERVICES PVT.302 001 RAJASTHAN COMPUTER AGE K.G.OPP.K. PRIYA KARVY COMPUTERSHARE PVT. JAIPUR CLUB. G-III. 105. LTD. O P KUMAWAT KARVY COMPUTERSHARE PVT.SANGAM TOWER.452 001 MADHA PRADESH BAJAJ CAPITAL PRASOON SHUKLA INVESTOR SERVICES LIMITED SHOP NO. MAHAVIR MARG. A.134 MADHA PRADESH INDORE MS. CSCHEME JAIPUR . S-16. LAND MARK OPP. LTD. M. 3RD FLOOR. PARK SAROJ BEHIND ASHOK 0731-3014204/05 INDORE 0731-4072672 2541932 JAIPUR 0141-2363612 2360702 JAIPUR 0141-2363321 2375039 JAIPUR . CITI PLAZA. ROAD AOVE PAKIZA INDORE MADHA PRADESH BAJAJ CAPITAL GHANSHYAM INVESTOR SERVICES BHAVSAR LIMITED G-3.
3RD FLR. MAIN ROAD. 3RD FLOOR.C SCHEME JAIPUR 302001 RAJASTHAN MS. JAYANTO 0657-2487045 KARVY BHATTACHARYA 2487020 COMPUTERSHARE PVT. O-19 A. YUDHISTHIR MARG . 2ND FLOOR KAMANI BUSINESS CENTRE BISHTUPUR JAMSHEDPUR . SANDHYA HEDA INFRASTRUCTURE LEASING & FINANCIAL SERVICES LTD.'O' .135 NAGAR POLICE STATION R-7.C-SCHEME JAIPUR . KANCHAN TOWER. CHHAGANLAL DAYALJI & SONS. BISTUPUR JAMSHEDPUR .302 001 RAJASTHAN 0141 . IL&FS LTD. ASHOK MARG C SCHEME JAIPUR .302 001 RAJASTHAN JAIPUR MS SANDHYA HEDA INFRASTRUCTURE LEASING & FINANCIAL SERVICES LTD. LTD.831 001 JHARKHAND BAJAJ CAPITAL UTPAL BANERJEE INVESTOR SERVICES LIMITED SHOP NO. 3-S B SHOP AREA.831001 JHARKHAND 0657-2321825 JAMSHEDPUR .19 A. 53.2371626 JAIPUR 0141-2371626 JAMSHEDPUR MR. ASHOK MARG.
NORTH PRADHAKSHNAM ROAD NEAR THINNAPPA THEATRE KARUR . G 27. NADIA KALYANI . A) P O.11. LTD.KALYANI 136 BAJAJ CAPITAL KAUSHIK INVESTOR SERVICES CHAKRABORTY LIMITED B-9/20 ( C.208 001 UTTAR PRADESH BAJAJ CAPITAL R.639 001 TAMILNADU 0512-3292333 3246390 KANPUR KARUR 04324 -231818 . ROLLAND TOWER.28 GROUND FLOOR CITY CENTRE 63/ 2.M. CIVIL LINES KANPUR .1B. THE MALL KANPUR . JEYAM TOWERS NO.741235 WEST BENGAL BAJAJ CAPITAL RAVI INVESTOR SERVICES TIWARI LIMITED 25. 17/5.208 001 UTTAR PRADESH COMPUTER AGE RISHI RANJAN MANAGEMENT SERVICES PVT. MUIR MILLS. MURUGAN INVESTOR SERVICES LIMITED SHOP NO. LTD. MALL ROAD KANPUR 208001 UTTAR PRADESH 25022106 KANPUR PRAKASH 0512-2314625 2315676 KANPUR MR. 15/46. SUDHIR TEWARI KARVY COMPUTERSHARE PVT. KALYANI DIST. LOWER GROUND FLOOR. FIRST FLOOR OPP.
700071 WEST BENGAL BAJAJ CAPITAL SANTANU INVESTOR SERVICES CHAKRABORTY LIMITED 9 EZRA STREET KOLKATA .700001 WEST BENGAL BAJAJ CAPITAL AVIJIT BANERJEE INVESTOR SERVICES LIMITED MARTIN BURN HOUSE GROUND FLOOR. TEGHORIA . 9 SHREERAM NAGAR. 3RD FLOOR ROOM NO. 302 7/1 LORD SINHA ROAD KOLKATA .700001 WEST BENGAL BAJAJ CAPITAL UDAY SEKAR INDU INVESTOR SERVICES LIMITED 1ST FLOOR 4 JATIN BAGCHI ROAD KOLKATA . V I P ROAD KOLKATA . 15 1.KOLKATA 137 BAJAJ CAPITAL RAJARSHI INVESTOR SERVICES MUKHERJEE LIMITED LORD. R N MUKHERJEE ROAD KOLKATA .700052 WEST BENGAL BAJAJ CAPITAL PRANTICK INVESTOR SERVICES ROY LIMITED 3RD FLOOR 42/1 4003-4031 KOLKATA 4005-2060 KOLKATA 4005-3181 KOLKATA 4008-5610 KOLKATA 9903303451 KOLKATA KUMAR 9903303445 . ROOM NO.700029 WEST BENGAL BAJAJ CAPITAL SREEKANTA PODDER INVESTOR SERVICES LIMITED GROUND FLOOR SHOP NO.
3 P . 507 7/1 LORD SINHA ROAD KOLKATA .700054 WEST BENGAL BAJAJ CAPITAL SUJOY DUTTA INVESTOR SERVICES LIMITED BF . NEW ALIPORE KOLKATA .192 SECTOR I SALT LAKE KOLKATA .700071 WEST BENGAL BAJAJ CAPITAL BOIDURYA INVESTOR SERVICES MAZUMDAR LIMITED 182.700064 WEST BENGAL BAJAJ CAPITAL NAVANEETA GADI INVESTOR SERVICES LIMITED LORD 5TH FLOOR. C I T ROAD SCHEME VI M KOLKATA .138 BANKIM MUKHERJEE SARANI BLOCK .24A.700074 WEST BENGAL BAJAJ CAPITAL ARNAB DUTTA INVESTOR SERVICES LIMITED PLOT NO. JESSORE ROAD ( SATGACHI CROSSING) DUM DUM KOLKATA . IX .D. SECTOR V SALT LAKE KOLKATA . FLAT NO.700053 WEST BENGAL KOLKATA BAJAJ CAPITAL ANIRBAN INVESTOR SERVICES CHAKRABORTY LIMITED MEZANINE FLOOR. ROOM NO.16 BLOCK EP & GP.700091 4005-2051 KOLKATA 4004-6092 KOLKATA 4003-1733 KOLKATA JYOTI 9903303455 KOLKATA 4006-1770 .
"CONSTANTIA". GROUND FLOOR 11 DR U N BRAHMACHARI STREET GANDHI NAGAR KOLKATA . KOLKATA . LTD.700 017 WEST BENGAL SAMIR GHOSH INFRASTRUCTURE LEASING & FINANCIAL SERVICES LTD. KARVY RAMASWAMY COMPUTERSHARE PVT.65502448 . LORD SINHA ROAD KOLKATA .700 071 WEST BENGAL MR.700 029 WEST BENGAL 033-30582297 KOLKATA 033-22807358/63 KOLKATA 033 -22815032/33 KOLKATA RAJ 033-24659263/67 24635432 KOLKATA KOTAK SECURITIES VISHNU TIBREWALA LTD. JATIN BAGCHI ROAD.700 025 WEST BENGAL MR. U N BRAHMACHARI STREET KOLKATA . 16. 7/1 LORDS BUILDING GROUND FLR. LTD. CONSTANTIA GROUND FLOOR 11 DR. APEEJAY HOUSE BLOCK C 15 PARK STREET KOLKATA . 7TH FLOOR. JATIN SANGANI INFRASTRUCTURE LEASING & FINANCIAL SERVICES LTD.700 016 033.139 WEST BENGAL KOLKATA COMPUTER AGE SUKUMAR MANAGEMENT SERVICES PVT.
226001 UTTAR PRADESH BAJAJ CAPITAL VIVEK SINGH INVESTOR SERVICES 0522-2334177 32961198 LUCKNOW . K. 11.MG MARG LUCKNOW .140 WEST BENGAL KOLKATA MR. GROUND FLOOR KANJIKUZHY. 7-A.11 & 12.686 004 KERALA BAJAJ CAPITAL HIMANSHU BINDRA INVESTOR SERVICES LIMITED SHOP NO.K. ROAD KOTTAYAM .COM 110058 NEW DELHI 0481 -3293519 KOTTAYAM L. COMMERCE HOUSE. PLANTATION CORPORATION. 4C LANSDOWNE PLACE OPP.ACRM INVESTOR SERVICES LIMITED SKYLINE CITADEL BUILDING OPP .JANAKPURI TRANSPORT AUTHORITY) JANAK PURI L. RD OF RAMAKRISHNA MISSION HOSPITAL KOLKATA . JANAKPURI DISTRICT CENTRE. 1-B. ANANTHA 033-24746400/5296 INTEGRATED ENTERPRISES (INDIA) PADMANABHAN LTD. HABIBULLA COMPOUND.COM 25552675 25551976 LUCKNOW BHUSHAN 0522-4039500 / 2629773 BAJAJ CAPITAL BHARAT INVESTOR SERVICES CHATURVEDI LIMITED 5.700 029 WEST BENGAL BAJAJ CAPITAL SHINE . (OPP.
LTD.PARK ROAD. GREEN FIELD NEAR TRAFFIC LIGHTS. LTD. ALIGANJ LUCKNOW . SWAROOP MARKET NEAR KAPUTHALA CROSSING.CENTRE COURT BUILDING. ABOVE DR.226 001 UTTAR PRADESH COMPUTER AGE SANDEEP DAS MANAGEMENT SERVICES PVT.1ST FLOOR.226024 UTTAR PRADESH LUCKNOW MS. RASHI PATHAK KARVY COMPUTERSHARE PVT.141 002 PUNJAB BAJAJ CAPITAL AJAY SIDANA INVESTOR SERVICES LIMITED M-3. PRINCE MARKET. U/ GF. MAHATMA GANDHI MARG OPP. 5 . 3/C.226 001 UTTAR PRADESH COMPUTER AGE RAJESH DEWAN MANAGEMENT SERVICES PVT. SARABHA NAGAR PULLI PAKHOWAL ROAD. HAZRATGANJ LUCKNOW . LTD. 94. FEROZ GANDHI MARKET LUDHIANA .141001 PUNJAB 0161-2412287 5121387 9316921166 0522-3249039 2236819 LUCKNOW LUDHIANA LUDHIANA .1. GOVERNOR HOUSE LUCKNOW . SCO-137. ABC SERVICES. VIRDI'S LAB LUDHIANA .141 LIMITED SHOP NO. OFF # 4.
575 003 KARNATAKA 0452 . GAURI 0824 . LTD. 3RD FLOOR RAMA BHAVNA COMPLEX KODIALIBAIL MANGALORE . 272/273. TAMILSANGAM ROAD MADURAI .2411426 INFRASTRUCTURE LEASING & BHANDARKAR FINANCIAL SERVICES LTD.625 001 TAMILNADU COMPUTER AGE VEERESH INCHALMATH MANAGEMENT SERVICES PVT. G 4 & G 5. INLAND MONARCH OPP. NO. LTD. NO.MADURAI 142 BAJAJ CAPITAL SENTHIL INVESTOR SERVICES MANIKANDAN LIMITED SURIYA TOWERS.2345863 MADURAI MANGALORE MANGALORE MS. KARNATAKA BANK KADRI MAIN ROAD. KADRI MANGALORE .5 FIRST FLOOR. GOODSHED STREET MADURAI . 86/71A.575 003 KARNATAKA GAURI BHANDARKAR 0824-2411426/428 INFRASTRUCTURE LEASING & FINANCIAL SERVICES LTD.625 001 TAMILNADU COMPUTER AGE S DURAIMURTHY MANAGEMENT SERVICES PVT. 3RD FLOOR RAMBHAVAN COMPLEX KODIALBAIL MANGALORE .
GR.143 MANGALORE 003 KARNATAKA MANGALORE 575 BAJAJ CAPITAL MR.VICE PRESIDENT) LIMITED GROUND FLOOR 003.575 003 KARNATAKA BAJAJ CAPITAL PRIYA RANJAN INVESTOR SERVICES LIMITED G-43. SHOP NO. PENINSULA CORPORATE PARK GANPAT RAO KADAM MARG MUMBAI 400013 MAHARASHTRA BAJAJ CAPITAL MR.FLOOR SATYAM SHIVAM SUNDARAM 88 SION CIRCLE MUMBAI 400022 MAHARASHTRA BAJAJ CAPITAL MR. GANGA PLAZA.BS4 BUNTS HOSTEL CIRCLE.AKSHAY PATRA INVESTOR SERVICES LIMITED SHOP NO.RAVALNATH INVESTOR SERVICES LIMITED ESSEL TOWERS. NEAR BEGAM BRIDGE MEERUT CANTT MEERUT 250001 UTTAR PRADESH BAJAJ CAPITAL SURAJIT INVESTOR SERVICES MISRA(SR.7.NARAYAN INVESTOR SERVICES GAIKWAD LIMITED GROUND FLOOR AGRA BUILDING 0824-4251787 MEERUT 0121 2667383 - 2666293 MUMBAI 022-40099999 MUMBAI 022-64518004 MUMBAI 022-66376999 . MANGALORE .
FLOOR TARDEO A/C MARKET MUMBAI 400034 MAHARASHTRA BAJAJ CAPITAL MS.TEJAS BEHERA INVESTOR SERVICES LIMITED SHOP NO.AMIT KOTHARI INVESTOR SERVICES LIMITED SHOP NO. GR.V.144 7/9. ROAD OPP.3 A/C MARKET.6 GOPAL MANSION.DATTATRAYA HOTEL MUMBAI 400028 MAHARASHTRA BAJAJ CAPITAL MR. RAM NIWAS GOKHALE ROAD OPP.OAK LANE FORT MUMBAI 400023 MAHARASHTRA MUMBAI BAJAJ CAPITAL MR.ROAD 022-32461282 MUMBAI 022-23511048 MUMBAI 022-65971078 MUMBAI 022-32954520 MUMBAI 022-32914078 .NARESH JAIN INVESTOR SERVICES LIMITED SHOP NO.COPPER CHIMNEY MUMBAI 400050 MAHARASHTRA BAJAJ CAPITAL MR.VIDYA INVESTOR SERVICES SAJEEVKUMAR LIMITED ROOM NO.11.7. STN. FLOOR DHEERAJ HERITAGE BLDG.GR. S. 5TH FLOOR MUMBAI CENTRAL MUMBAI 400034 MAHARASHTRA BAJAJ CAPITAL MR.VIPUL KAPADIA INVESTOR SERVICES LIMITED SHOP NO.5.
PANKAJ INVESTOR SERVICES PATWARDHAN LIMITED SHOP NO. N.. SAI ARCADE. OPP. SHOPPER'S POINT BEHIND MOTI MAHAL RESTAURANT S.PRADEEP INVESTOR SERVICES SHARMA LIMITED 16. RB MEHTA ROAD NR.1 SHANTINATH APT.145 MUMBAI 400054 MAHARASHTRA MUMBAI BAJAJ CAPITAL MR. 022-65210116 MUMBAI 022-25213981 MUMBAI 022-65210115 MUMBAI 022-32509514 MUMBAI 022-32964078 . GRD. MUMBAI 400077 MAHARASHTRA BAJAJ CAPITAL MR. FLOOR SUNIL SADAN.GHATKOPAR STN.102.S.. ROAD MUMBAI 400058 MAHARASHTRA BAJAJ CAPITAL MR. PATEL CHOWK.D.SWAPNIL INVESTOR SERVICES MAHAJANI LIMITED ROOM NO.PRADEEP BISHT INVESTOR SERVICES LIMITED SAI INFOTECH BLDG.MARG ABOVE UNION BANK OF INDIA MUMBAI 400080 MAHARASHTRA BAJAJ CAPITAL MR.1.S.V.MANOJ VARMA INVESTOR SERVICES LIMITED SHOP NO. MARG MUMBAI 400071 MAHARASHTRA BAJAJ CAPITAL MR.GRAND CENTRA HOTEL M.
OPP. S.V.ANIKET DIVEKAR INVESTOR SERVICES LIMITED SHOP NO.146 OPP.. BANDRA KURLA COMPLEX. THE IL&FS FINANCIAL CENTRE 8TH FLOOR. OPP TAHNE STN. PLOT C22.KHANDELWAL SWEETS. ABV. STAR APT.61. IL&FS LTD. THAKUR CINEMA THAKUR VILLAGE MUMBAI 400101 MAHARASHTRA 022-64507728 MUMBAI BAJAJ CAPITAL MR.5. BANDRA (E) MUMBAI 400051 MAHARASHTRA INFRASTRUCTURE GEETA GOHIL LEASING & 022 28570965 MUMBAI . VASANT SAGAR KRISHNA BLDG. VIJENDRA 26533083 & 26593016 INFRASTRUCTURE LEASING & ANBHAVANE FINANCIAL SERVICES LTD. GOKHALE ROAD MUMBAI 400601 MAHARASHTRA BAJAJ CAPITAL MR.ROAD MUMBAI 400092 MAHARASHTRA MUMBAI BAJAJ CAPITAL MR.VISHAL INVESTOR SERVICES NANDANWAR LIMITED C-1/8/0:2 SECTOR 2 MUMBAI 400703 MAHARASHTRA 022-32997372 MUMBAI MUMBAI MR.ANUP BHANDARE 022-25376898 INVESTOR SERVICES LIMITED ROOM NO. G-BLOCK.
43.22817678/80 MUMBAI 022-26533083 MUMBAI 022-28570965 . CHANDIVLI. IL AND FS HOUSE RAHEJA VIHAR CHANDIVALI. INFRASTRUCTURE LEASING & MISHRA FINANCIAL SERVICES LTD. ANDHERI (EAST) 022 .400 051 MAHARASHTRA GIRISH PALSHIKAR INFRASTRUCTURE LEASING & FINANCIAL SERVICES LTD. 43 GROUND FLOOR DR. V B GANDHI MARG. FORT MUMBAI . V B GANDHI MARG FORT MUMBAI . BANDRA KURLA COMPLEX BANDRA EAST MUMBAI .400 023 MAHARASHTRA MR. VIJENDRA A INFRASTRUCTURE LEASING & FINANCIAL SERVICES LTD. ANDHERI EAST MUMBAI 400072 MAHARASHTRA MUMBAI MR. 22 G BLOCK. IL&FS FINANCIAL CENTRE. GROUND FLOOR. PLOT NO.147 FINANCIAL SERVICES LTD. SHARADHA BUSINESS CENTRE MODERN HOUSE.400 023 MAHARASHTRA SANTOSH 022-22817678/79/80 MUMBAI AVNEET SHARMA INFRASTRUCTURE LEASING & FINANCIAL SERVICES LTD.
RAJABAHDUR COMPOUND.400 021 MAHARASHTRA KOTAK LTD. HSBC BANK / THOMAS COOK D.2ND FLOOR NEAR SHRIRAM INDISTRIAL ESTATE KATRAK ROAD.400 023 MAHARASHTRA MR. 30 MUMBAI SAMACHAR MARG MUMBAI .400 MAHARASHTRA MUMBAI 072 022-25261431 COMPUTER AGE R. CHAMBER OF COMMERCE LANE NEAR MSC BANK. FORT.148 MUMBAI . FORT FOUNDATION BLDG MAH. LTD. GROUND FLOOR. SHILPIN CENTRE . KARVY BHOGLE COMPUTERSHARE PVT. MUMBAI . PROSPECT BLDG.32583926 MUMBAI SECURITIES SURESH HARIHARAN 022. MUMBAI .400 031 MAHARASHTRA DEUTSCHE INVESTOR M K BIJU SERVICES PVT. VAIDYANATHAN MANAGEMENT SERVICES PVT. OPP. BEHIND ICICI BANK. INTEGRATED ENTERPRISES (INDIA) GOPALAKRISHNAN ANAND LTD. GROUND FLR. LTD. N. FORT MUMBAI . 022-24170417/18/19/20 MUMBAI 022 . 217.22655005 . ROAD. 26/30. LTD.400 023 MAHARASHTRA MUMBAI SANDEEP 022-66341966/67 MUMBAI MR.
145 LENDRA. LTD. NIRLON HOUSE. 5TH FLOOR. STANROSE HOUSE APPASAHEB MARATHE MARG PRABHADEVI MUMBAI . CHANDIVALI ANDHERI (EAST) MUMBAI .400 001 MAHARASHTRA MUMBAI KOTAK SECURITIES ARVIND PANCHAL LTD. 3RD FLOOR. BEHIND 022.400 072 MAHARASHTRA COMPUTER AGE ANITHA MOKHA MANAGEMENT SERVICES PVT. DR. NIRLON HOUSE. 2ND FLOOR. ICICI BANK TOWER CHANDIVALI FARM ROAD.149 RAJA BAHADUR COMPOUND GROUND FLOOR 32 MUMBAI SAMACHAR MARG MUMBAI .400 025 MAHARASHTRA ICICI BROKERAGE AMI PANDYA SERVICES LTD. A WING. ANNIE BESANT ROAD WORLI MUMBAI MAHARASHTRA ICICI BROKERAGE NARENDRA JAIN SERVICES LTD.66511320 9820553056 MUMBAI MUMBAI MUMBAI NAGPUR . 4TH FLOOR 254-B.400 025 MAHARASHTRA ICICI BROKERAGE RUTUJA SAWANT SERVICES LTD. NEAR PASSPORT OFFICE WORLI MUMBAI .
440 010 MAHARASHTRA NAGPUR BAJAJ CAPITAL MR.SUYOJIT SANKUL.150 INDUS IND BANK NEW RAMDASPETH NAGPUR .SHAILESH DORLE INVESTOR SERVICES LIMITED SHOP NO. TILAK WADI SHARANPUR ROAD NASIK 422002 MAHARASHTRA BAJAJ CAPITAL VIJAY PAL SINGH INVESTOR SERVICES LIMITED UNITED INDIA LIFE BUILDING F BLOCK CONNAUGHT PLACE NEW DELHI . BAHADURSHAH ZAFAR MARG NEW DELHI . HERALD HOUSE. CENTRAL BAZAAR ROAD.110002 NEW DELHI BAJAJ CAPITAL CHANDAN SINGH INVESTOR SERVICES LIMITED 9.5 PUSHPAKUNJA COMMERCIAL BLDG.AMOL PAGARE INVESTOR SERVICES LIMITED G-13.110001 NEW DELHI BAJAJ CAPITAL KAPIL PALIWAL INVESTOR SERVICES LIMITED GROUND FLOOR. RAJENDRA BHAWAN. GROUND FLOOR. 0712-6618577 NASIK 0253-2580314 NEW DELHI 41790444 NEW DELHI 23317072 23313551 NEW DELHI 25734989 25822840 .RAMDAS PETH NAGPUR 440010 MAHARASHTRA BAJAJ CAPITAL MR.
B-5. YUSUF SARAI COMMERCIAL YUSUF SARAI NEW DELHI . GROUND FLOOR. TAGORE MARKET. BELOW SATYAM I-WAY.110016 NEW DELHI BAJAJ CAPITAL PRAMOD SHARMA INVESTOR SERVICES LIMITED C-50.151 (OPP.110009 NEW DELHI BAJAJ CAPITAL RAJ KUMAR NAGPAL INVESTOR SERVICES LIMITED F-14/1. RACHNA CINEMA). MAYUR VIHARPHASE-I NEW DELHI . (NEXT TO POST OFFICE) KIRTI NAGAR NEW DELHI . SHIVALIK. NEW DELHI . DDA MARKET. RAJENDRA PLACE. GROUND FLOOR.110009 NEW DELHI BAJAJ CAPITAL ASHOK KUMAR INVESTOR SERVICES LIMITED SHOP NO.3. MODEL TOWN-II.110015 NEW DELHI BAJAJ CAPITAL RATISH KURUP INVESTOR SERVICES LIMITED 19. NEW DELHI . ACHARYA NIKETAN.110008 NEW DELHI NEW DELHI BAJAJ CAPITAL RAVI PRAKASH INVESTOR SERVICES LIMITED A-13. 22751169 22752029 NEW DELHI 65515220 27121605 NEW DELHI 25113659/25117531 NEW DELHI 26863789 26523166 41841143 NEW DELHI 26674082 26689170 .
110017 NEW DELHI NEW DELHI BAJAJ CAPITAL RAJAN SHARMA INVESTOR SERVICES LIMITED GROUND FLOOR 97.110019 NEW DELHI BAJAJ CAPITAL SANTOSH INVESTOR SERVICES MISHRA LIMITED GROUND FLOOR. DEEP CINEMA COMPLEX.110052 NEW DELHI BAJAJ CAPITAL MOHIT TANDON INVESTOR SERVICES LIMITED G-8 & 9.110019 NEW DELHI BAJAJ CAPITAL SUDHIR AGGARWAL INVESTOR SERVICES LIMITED L-26 KALKAJI NEW DELHI .110024 NEW DELHI BAJAJ CAPITAL AMIT BABBAR INVESTOR SERVICES LIMITED SHOP NO. JAWALA HERI MARKET. 15 GROUND FLOOR. BAJAJ HOUSE NEHRU PLACE NEW DELHI .152 MAIN ROAD. ASHOK VIHAR NEW DELHI . A-BLOCK. MALVIYA NAGAR NEW DELHI . A454 DEFENCE COLONY NEW DELHI . PHASE-I. BHANOT TOWER. PASCHIM VIHAR 41693000 NEW DELHI 26223507 26443761 NEW DELHI KUMAR 24338180/41553182 NEW DELHI 65515221 27461651 NEW DELHI 25284360 25265909 . OPP. GROUND FLOOR.
110075 NEW DELHI BAJAJ CAPITAL SURINDER SINGH INVESTOR SERVICES LIMITED SHOP NO.110063 NEW DELHI NEW DELHI BAJAJ CAPITAL MANISH SHARMA INVESTOR SERVICES LIMITED 112. NEW DELHI . GROUND FLOOR. PATPARGANJ. 6.153 NEW DELHI .110092 26164343 26188644 NEW DELHI 26136319/26897632/65515223 NEW DELHI 42730057/58/65 NEW DELHI 27315056 27312742 NEW DELHI 22233120 45515224 .4. 1 I. FD MARKET. BHIKAJI CAMA PLACE. PLOT NO. LGF CENTRAL MARKET. ANSAL CHAMBERS-I. SECTOR V NEW DELHI . 24. EXTENSION. NEAR MADHUBAN CHOWK PITAM PURA NEW DELHI . MASOODPUR. HL SQUARE.110088 NEW DELHI BAJAJ CAPITAL SACHIN AGGARWAL INVESTOR SERVICES LIMITED DDA SHOP NO.110066 NEW DELHI BAJAJ CAPITAL DEBASHISH INVESTOR SERVICES MOHANTY LIMITED 15. IST FLOOR. NEW DELHI . CSC MARKET NO.P. VASANT KUNJ NEW DELHI .110070 NEW DELHI BAJAJ CAPITAL ROHIT CHANDEL INVESTOR SERVICES LIMITED F-4.
110 001 NEW DELHI NEERAJ SAINI INFRASTRUCTURE LEASING & FINANCIAL SERVICES LTD.110095 NEW DELHI COMPUTER AGE SURESH KALRA MANAGEMENT SERVICES PVT. 2ND FLOOR.110065 22509814 22533270 NEW DELHI 43036073/74 NEW DELHI 011-30481201 NEW DELHI 26443912 NEW DELHI MR. 10. 1ST FLOOR. 3RD FLOOR KANCHENJUNGA BUILDING 18 BARAKHAMBA ROAD NEW DELHI . NEW DELHI . EAST OF KAILASH NEW DELHI NEW DELHI . PREET VIHAR. 304-305.154 NEW DELHI NEW DELHI BAJAJ CAPITAL HARISH BHATIA INVESTOR SERVICES LIMITED 5/201. SIKKA COMPLEX. RAJESH 011-26435352 INFRASTRUCTURE LEASING & BHATTACHARJEE FINANCIAL SERVICES LTD.110092 NEW DELHI BAJAJ CAPITAL SANJAY SAINI INVESTOR SERVICES LIMITED F-107. COMMUNITY CENTRE. EAST OF KAILESH . COMMUNITY CENTRE 2ND FLOOR. COMMUNITY CENTRE 2ND FLOOR. AJANARA COMPLEX VIVEK VIHAR NEW DELHI . 'D' BLOCK MARKET. LTD. 10.
KARVY GEORGE COMPUTERSHARE PVT.110 001 NEW DELHI MR. ARUNACHAL BLDG. 18/7.E.A ARYA SAMAJ ROAD.110 005 NEW DELHI BAJAJ CAPITAL DHIRENDER KUMAR INVESTOR SERVICES LIMITED A-2. 1ST. BRAHMAPUTRA COMMERCIAL COMPLEX. SECTOR 41. C BLOCK MARKET. 4340111/2570410 95120- .155 NEW DELHI . 2ND 3RD & 4TH FLOOR AMBADEEP 14 KASTURBA GANDHI MARG NEW DELHI . 212.110 065 NEW DELHI NEW DELHI MR. NOIDA 011. 1ST FLOOR. W. (NEAR RAIL RESERVATION CENTRE). SECTOR 29. LTD.110 001 NEW DELHI MICHAEL 011-23737194 41511627 NEW DELHI KOTAK SECURITIES ANOOP GUPTA LTD. NOIDA NOIDA 201301 UTTAR PRADESH BAJAJ CAPITAL MANMOHAN PASSI INVESTOR SERVICES LIMITED C-20.66313109 NEW DELHI 9871997001/10/12 NOIDA 95120-2450100 2451496 NOIDA PHONE NO. KAROL BAGH NEW DELHI . 19 BARAKHAMBA ROAD. SUDARSHAN INTEGRATED ENTERPRISES (INDIA) LTD. CONNAUGHT PLACE NEW DELHI .
LTD. MALINI NAIK KARVY COMPUTERSHARE PVT. LTD. 2ND FLOOR.403 001 GOA MR.S. SHANKAR KARVY COMPUTERSHARE PVT.O.156 NOIDA 201301 UTTAR PRADESH PALAKKAD BAJAJ CAPITAL N. EL DORADO PLAZA HELIODORO SALGADO ROAD PANJIM . ANAND TOWERS.322. PALAKKAD .PARASURAMAN INVESTOR SERVICES LIMITED S. REPUBLIC HOTEL OPP.800 001 BIHAR COMPUTER AGE SUNIL KUMAR MANAGEMENT SERVICES PVT. NEAR H.P.678 001 KERALA BAJAJ CAPITAL SANJIV SAINI INVESTOR SERVICES LIMITED S. SECTOR -9 PANCHKULA HARYANA MS. 1ST FLOOR COLLEGE ROAD.V.7 & 8. NO. COMPLEX.O. KAMLALAYE SHOBHA PLAZA (1ST FLOOR) BEHIND RBI 0491 . MITHILA MOTORS PATNA . EXHIBITION RD. NR.C.2545579 PANCHKULA 0172-3951813 PANJIM 0832-2426870/71-74 PATNA 0612-2321354/55/56 PATNA . FIRST FLOOR ABOVE SHERE-PUNJAB RESTAURANT. LTD.
ABHAY SHITRE INVESTOR SERVICES LIMITED SHOP NO. FIRST FLOOR NATESAN NAGAR PONDICHERRY .C COLLEG ROAD NR.OMPRAKASH INVESTOR SERVICES GUPTA LIMITED 1ST FLOOR.RUPALI RESTAURANT PUNE 411001 MAHARASHTRA BAJAJ CAPITAL MR.157 NEAR TOWER ROAD PATNA BIHAR PATNA ASHIANA EXHIBITION 800 001 0612-2237951 BAJAJ CAPITAL RABINDRA KUMAR INVESTOR SERVICES LIMITED ASHIANA PLAZA. F.127/A. SANAS PLAZA 1302.6. OFFICE NO. 1ST FLOOR FLAT NO.605 001 PONDICHERRY BAJAJ CAPITAL MR.2 LAND SQUARE. 100 FEET ROAD NADESAN TOWERS.SUBHASH NAGAR BAZIRAO ROAD PUNE 411002 MAHARASHTRA COMPUTER AGE YATIN DESAI PONDICHERRY 0413 2204911 PUNE 020-40185600 PUNE 020-24493355 PUNE 020-30283005 . 106B BUDHA MARG PATNA 800001 BIHAR BAJAJ CAPITAL LAKSHMI INVESTOR SERVICES NARAYANAN LIMITED NO.
ERANDAWANE PUNE 411 004 MAHARASHTRA PUNE MR. MEHANDALE GARAGE RD.6. SHOP NO. F C ROAD DYANESHWAR PAKUKA CHOWK PUNE 411 004 MAHARASHTRA MR. 1350. N C KELKAR ROAD. PUNE MAHARASHTRA MS. ROOPESH 020-25533795 KARVY BALARAMAN 25532783 COMPUTERSHARE PVT. JALAN CORNER. G E ROAD BEHIND INDIAN COFFEE HOUSE 020-24473944 24481891 PUNE PUNE 9373337513 RAIPUR 0771-6450194 . 7. GROUND FLR MILLENNIUM PLAZA. LTD. L. C WING. LTD. PUNE 411 002 MAHARASHTRA DEUTSCHE INVESTOR KAMAAL ASHRAFI SERVICES PVT. SHUKRAWAR PETH BAJIRAO ROAD. SUDHAKAR INTEGRATED ENTERPRISES (INDIA) LTD. LTD. NARAYANPETH. 58 & 59 3 RD FLOOR. NO. SURVY NO. LTD. NIRMITI EMINENCE OPP ABHISHEK HOTEL. 12 / 13.158 MANAGEMENT SERVICES PVT. SHARDA KARVY COMPUTERSHARE PVT. GROUND FLOOR 1349. 184/4. SRINATH PLAZA. 7 & 8 ARTHSHILP. 1ST FLR.
NR. LTD. RANCHI . LTD. RAJENDRA PRASAD ROAD HARIHAR CHOWK RAJKOT .492 CHATTISGARH RAJKOT 001 0281-2233179 2239338 MR.JAYESH PUBLICITY MOTI TANKI CHOWK RAJKOT 360001 GUJARAT MR. NEAR CHOTURAM CHOWK ROHTAK HARYANA RAJKOT 0281-3043588 RANCHI 0651-2331320 2330386 ROHTAK KUMAR 01262 320889 252084 SALEM BAJAJ CAPITAL D.SATHISH KANNAN.0427 .159 RAIPUR .22. RAVI RANJAN KARVY COMPUTERSHARE PVT. NARAIN COMPLEX CIVIL ROAD. SWARNAMBIGAI PLAZA OMALUR MAIN ROAD .360 001 GUJARAT BAJAJ CAPITAL MR.2441180 INVESTOR SERVICES AREA MANAGER LIMITED NO. STAR CHAMBERS DR.SHAILSH DEVDA INVESTOR SERVICES LIMITED PRATIBHA COMPLEX. COMMERCE TOWERS. 3RD FLOOR BESIDE MAHABIR TOWERS MAIN ROAD. NILESH BELANI KARVY COMPUTERSHARE PVT.834 001 JHARKHAND BAJAJ CAPITAL NAVEEN INVESTOR SERVICES BALHARA LIMITED 1ST FLOOR. 204.
160 SALEM .HEMANSHU INVESTOR SERVICES DESAI LIMITED 101. RAILWAY ROAD SONEPAT . OLD CIVIL HOSPITAL. VIRAL MEHTA KARVY COMPUTERSHARE PVT. 102.VISHWAKARMA CHAMBER MAJURA GATED CROSSING ROAD.131001 HARYANA BAJAJ CAPITAL MR. JADE ARCADE PARADISE CIRCLE SECUNDERABAD . 1ST FLOOR.636 TAMILNADU SECUNDERABAD 009 040-39182471 COMPUTER AGE BHAVANARAYANAN MANAGEMENT SERVICES PVT. NANPURA SURAT . G/16 EMPIRE STATE BUILDING NEAR SONEPAT 0130-2240623 (95130 FROM DELHI) SURAT 0261-2475700 SURAT SURAT 0261-3017158 . OFFICE NO 2 AHURA -MAZDA COMPLEX FIRST FLOOR. SADAK STREET TIMALYAWAD. LTD.500 003 ANDHRA PRADESH BAJAJ CAPITAL RAJESH KOHLI INVESTOR SERVICES LIMITED GROUND FLOOR. RING ROAD SURAT 395002 GUJARAT COMPUTER AGE NAGEN BIHARI MANAGEMENT SERVICES PVT. LTD. OPP. LTD.395 001 GUJARAT MR.
NEAR BYEPASS ROUNDTANNA TIRUNELVELI . AMBIKA ARCADE M. SUNIL INVESTOR SERVICES LIMITED FIRST FLOOR.1. ARCADE. SASTHAMANGALAM POST TRIVANDRUM . SALAI ROAD THILLAI NAGAR THIRUCHIRAPALLI 620 018 TAMILNADU THRISSUR BAJAJ CAPITAL M. VELLAYAMBALAM ROAD VAZAHUTHACADU. INVESTOR SERVICES AREA MANAGER LIMITED SWATI ARCADE.S.161 UDHNA DARWAJA RING ROAD SURAT .395 002 GUJARAT CHANDRAN THIRUCHIRAPALLI BAJAJ CAPITAL A. TC 14/999 VAZAHUTHACADU. FIRST FLOOR K.2763744 0487-3293439 TIRUNELVELI 0462 -4000502 TRIVANDRUM 0471 -2735112 .680 001 KERALA BAJAJ CAPITAL JOE RAYMOND INVESTOR SERVICES LIMITED SHOP NO.695 010 KERALA . ROAD THRISSUR .0431 . 73/1F 1ST FLOOR.G.627 001 TAMILNADU BAJAJ CAPITAL PRASANTH INVESTOR SERVICES KRISHNAN LIMITED EDAMALA PLAZA.K.
31-34.SILVER LINE BESIDES WORLD TRADE CENTRE SAYAJIGUNJ VADODARA .390 005 GUJARAT COMPUTER AGE SATISH SHAH MANAGEMENT SERVICES PVT. LTD.390 005 GUJARAT DEUTSCHE INVESTOR PIYUSH SHUKLA SERVICES PVT. 1.TRIVANDRUM KARVY COMPUTERSHARE PVT. SARDARPURA.FLOOR 129 SIDDHATH COMPLEX RC DUTTA ROAD VADODARA . AKSHAYA TOWERS SASTHAMANGALAM TRIVANDRUM . LTD. LTD. SUDEEP 0471-2725987/89/91 UDAIPUR BAJAJ CAPITAL VIVEK SINGHVI INVESTOR SERVICES LIMITED GROUND FLOOR. RAJAN PATEL KARVY COMPUTERSHARE PVT.313001 RAJASTHAN BAJAJ CAPITAL MR. UDAIPUR . 0294. LTD. 2ND FLOOR. PAYAL COMPLEX NEAR VADODARA STOCK EXCHANGE SAYAJIGUNJ VADODARA .695 010 KERALA 162 MR. 109 .390007 GUJARAT MR.JEETENDRA INVESTOR SERVICES KAMLATKAR LIMITED 1ST.5103574/3299574 VADODARA 0265-3088162 VADODARA 0265-2225210 3243293 VADODARA VADODARA 9825520624 .
MUNICIPAL WATER TANK LABBIPET VIJAYAWADA . SRILAKSHMI KARVY COMPUTERSHARE PVT.520 010 ANDHRA PRADESH COMPUTER AGE SASTRY MANAGEMENT 0866-2495200 2495400 0542-2361122/3957285 VIJAYAWADA 0866-6538181 VIJAYAWADA VIJAYAWADA VIZAG .520 010 ANDHRA PRADESH MS. TEMPLE STREET. ROAD. LABBIPET VIJAYAWADA . LTD. ALKAPURI VADODARA GUJARAT VARANASI BAJAJ CAPITAL REENA SINGH INVESTOR SERVICES LIMITED B-58/53-54. RC DUTT RD. GOKULESH-II. B/H.K. 40-1-68. LTD. MOHIUDDIN INVESTOR SERVICES LIMITED KALYAN COMPLEX. SHIVA COMPLEX RATH YATRA CROSSING VARANASI . LABBIPET VIJAYAWADA .G.221010 UTTAR PRADESH BAJAJ CAPITAL MR.163 301.G ROAD. RAO & RATNAM COMPLEX NEAR CHENNUPATI PETROL PUMP M. 39-1-89. 1ST FLOOR. 1ST FLOOR. M. 39-10-7 OPP.520010 ANDHRA PRADESH COMPUTER AGE BVD PRASAD MANAGEMENT SERVICES PVT.
LTD.164 SERVICES PVT. 1ST FLOOR. DWARAKA NAGAR VIZAG . SIRIPURAM VIZAG ANDHRA PRADESH BAJAJ CAPITAL MR.530 016 ANDHRA PRADESH VIZAG HDFC ASSET K NARENDRA KUMAR MANAGEMENT COMPNAY LTD.10-1-125. SAI GOPAL ARCADE. BESIDE PRASAD LABS VIZAG . OPP. 1ST FLOOR 3RD LANE . GROUND FLR. WALTAIR MAIN RD. WALTAIR CLUB. 47/ 9 / 17.530 003 ANDHRA PRADESH 0891 -2598214 VIZAG .PAVAN INVESTOR SERVICES LIMITED NO. ASILMETTA JUNCTION. N.
As in the case of life insurance products. 10 Crs 5% Rs. for distribution of the general insurance products through our Branch network.Once the selected Officials/Assistants from the identified branches complete the training and are successful in the prescribed general insurance test. commission from New India will accrue to the particular branch from where the insurance business has been booked at the following rates: a) For Corporate Clients: If Paid up Tariff Capital Business < Rs. 900042 and when our SP sells select products under the allotted agency code.2003 and MCS/03-04/247 dated The Bank has entered into a tie-up with New India Assurance Co.165 Chapter 5 General Insurance Bancassurance. they will be designated as ‘Specified Persons’(SP) authorised to sell insurance products of New India Assurance Co viz. Faculty support conducted at STC Hyderabad/Bangalore/Perambur which has been accredited by IRDA for conduct of general insurance training.5% Rs 25 Crs > Rs 25 Crs NIL 15% Non Business 15% 15% Tariff . The 50 hrs training is for Officers / Assistants who are CAIIB and the100 hrs training for Officers/Assistants who are non-CAIIB. Immediately after the training. ……………. 2. Marine(Cargo) and Motor covers to begin with. the general insurance products can be sold only through a trained and qualified employees of the Bank. Fire. MCS/03-04/91 dated 12..General Insurance Tie up with New India (CC Letter no.04) 24.03. An MOU to this effect has been signed on 20th October 2003.10. 3. 4. Arrangements for administering the Test to the trained staff will be made by New India Assurance Co. 10 Crs to 2. the selected Officers/Assistants will be required to appear for a Test conducted by IRDA. New India has allotted the Bank the corporate agency code no.
To facilitate our trained and qualified officials/assistants viz ‘Specified Persons’ to commence marketing general insurance products we furnish below a few guidelines:-i) While the choice of the general insurer from whom the customer may wish to purchase insurance cover rests with the borrower. v)SPs should be actively involved in Customer Relations Programmes and other such events held or arranged by the Bank to spread awareness amongst our customers of the Bank’s foray in general insurance through the corporate agency route. iv) The SP should interact with the visiting borrowers at the branch premises to explore the scope of selling the products to the customers. Branch/Divisional Managers are required to guide the SP suitably in this regard. ii) In cases where insurance cover has already been obtained by the customers. Suitable instructions should be issued to all the branches to direct all such business leads to the SP from the identified branch. vi) Commission at the rates agreed to with New India. For this purpose. vide para 3 above will accrue to the Branch. iii)Neighbouring branches which do not have a SP may also utilize the services of the SP from the identified branch. For this the SP will need to contact the concerned customer well before the due date for marketing the products of New India.166 b) For Individual Clients: 15% 5. a suitable backup register needs to be maintained which will be scrutinised by the Branch Manager/Divisional Manager vii) SPs will need to actively liaise with local New India officials who will also offer the necessary support to our branches. their renewal dates will need to be diarised so that at the time of renewal they can be availed from us. our branches concerned should liaise with officials of New India in their respective areas of operations and endeavour to book the business by encouraging the customers to purchase the cover from us. .SPs will check the commission amount as calculated by New India branch from where the business has been booked.
e. The tieup offers our Branches/Offices another income stream to augment our “Other Income” in as much as all assets insured with New India Assurance Co. 4.11. at Annexure-A. we enclose. under the Bank’s Corporate Agency Code No. 20th Oct 2006 for a period of 3 years i. IRDA Circular no. as the earlier MOU. IRD/CIR/BRO/074/Feb 05 dated 22. The MOU has now been renewed w. Efforts should now be made to increase the number of Specified Persons by multitasking the present qualified and trained Certified Insurance facilitators and AMFI Certified Employees. 3. and conditions. PBBU/MCS/06-07/12 dated 01. Renewal thereof (CC Circular No.2006) The Bank entered into an MOU with New India Assurance Co.2005 containing the rates of commission payable to our offices/branches.. and endeavour to cover ALL our Assets with New India Assurance Co. In this context.02. on October 20. 900042 will generate a commission ranging from 5 % to 15 % of premium paid.f.167 MOU to act as Corporate Agent of New India Assurance Co. 2003 for a period of 3 years to act as its Corporate Agent for distribution of select general insurance products through our Branches. till 19th Oct 2009. All branches/offices are advised to maintain close liaison with the local offices of New India Assurance Co. . on the same terms. 2. Currently the strength of Specified Persons is very low and not commensurate with our assets portfolio.e. Adoption of cluster approach by Specified Persons to book general insurance business of neighbouring branches not having Specified Person(s) will also enhance the coverage of general insurance under the tie up arrangement.
GEN/CIR/009/MAR-04 dated 3 of Agency Commission/Broker’s Remuneration payable for Direct Insurance Brokers and Insurance Agents in General Insurance Business”. (b) The cover under the mega risk policies and project insurance (EAR/CAR/ALOP) above Rs. Scale of Commission Annexure A IRD/CIR/BRO/074/FEB-05 22nd February. this circular is issued superceding Circular No.168 2. The Authority has reviewed the performance of the industry. Accordingly. particularly the development of the system of brokerage and the benefits to insuring public through increased market penetration.15 crore except Mega risk policies and project . 2004 with the following changes: 1.1500/.crore sum insured will also be eligible for Agency Commission/Broker’s Remuneration irrespective of the capital structure and the insured will not be eligible for 5 per cent special discount. (a) The eligibility limit for Special discount of 5 per cent in lieu of Agency Commission /Broker’s Remuneration stands raised from paid up capital of above Rs. the facility of 5% Special Discount in lieu of Agency Commission/Broker’s Remuneration shall continue. (d) Companies or firms. A number of representations received from different stakeholders from time to time on the same have also been examined. (c) In respect of Government Departments where paid up capital cannot be determined. 2005. Attention is drawn to the Authority’s circular rd March. whether Private Limited Companies or Public Sector Undertakings or statutory bodies having a paid up capital above Rs. 2005 CIRCULAR Subject: Special Discount in lieu of Agency Commission/Brokers Remuneration and Remuneration payable to Direct Insurance Brokers and Insurance Agents.15 crore without any distinction between private and public sector.GEN/CIR/009/MAR-04 dated 3rd March. 2004 to 31st March. The above circular was valid for a period of one year starting from 1st April. 2004 on special discount in lieu No.3 crore to above Rs.
25 crore 6. MLOP and IAR directly with an insurer. Public Liability Insurance Act. Engineering.A.1500 crore shall henceforth have the option of either: • availing a 5% Special Discount and place the Tariff business of Fire. CL capital upto (Fire).25% 2. EAR. ALOP) with sum insured above Rs.5% 4. The scale of Agency Commission/Brokers Remuneration shall be regulated as per the table given below: Direct Brokers No.1500 crore Upto 10% Upto 10% 3. MLOP and Rs.2 . Paid up Upto 10% Upto 12. Business excluding risks in Sl. 1923. 1991) Upto 15% Upto 17. All Non-Tariff N. Tariff business of Individuals 10% 12.A.No.25% Paid up Upto 5% capital above Rs. The above No cap on 5% and mentioned risks in capital special Sl.15 crore IAR insurances Upto 7. in which case they will become ineligible for availing the 5% Special Discount. Petrochemical. and Statutory Insurances (Workmen’s Compensation Act.1 under Mega no Policy & project discount insurance (CAR.5% Engineering. 2.5% Paid up Upto 6. 1988. or • seeking the services of an Insurance Broker/Insurance Agent.No.169 insurance (EAR/CAR/ALOP) of sum insured above Rs.5% Fire.15 crore to 25 crore Upto 6. Motor Vehicles Act. Indian Motor Tariff N.25% capital above Rs. Petrochemical. Consequential Loss (Fire). Class of Risk Paid up Agency Capital Commission Remuneration of final (% of final (% premium premium excluding excluding service tax) service tax) 1.
S. In all cases where the insured is availing special discount in lieu of Agency Commission/Broker’s Remuneration. Petrochemical. For Marine Hull Tariff business the existing scale of remuneration shall continue until further orders. IAR. In respect of branches in India of a foreign company reference should be drawn from the paid up capital of the company in the country in which it is incorporated and thereafter converting it into Indian Rupees. 2005. The Authority is examining the recommendations made by the Expert Committee on the other matters and shall take a final decision in due course of time. (C. 1956 should be acceptable. Engineering & MLOP for paid up capital above Rs. In case of sole proprietorship and partnership firms a certificate from a Chartered Accountant to the client should be acceptable.15 crore. The above orders come into effect from 1st April. CL (Fire).170 3. For the purpose of evidence of paid up capital a copy of the latest Balance Sheet which is in public domain as per the requirements of the Companies Act. 5.Rao) Chairman . the same should be indicated on the face of the policy. 4. • • • • • It is also clarified that: Special Discount in lieu of Agency Commission/Brokers Remuneration shall be restricted only to Tariff business of Fire. The percentage of special discount in lieu of Agency Commission/ Broker’s Remuneration specified in item (c) above be applied on the final premium excluding service tax. 6. In case of a balance sheet which is 2 years prior to the relevant year of placing insurance an auditor’s certificate must be produced.
Individuals ii. 2006 IRDA Circular No. No brokerage can be paid in respect of an insurance where agency commission is payable and likewise.25% c) Over Rs.15 crores 10% 12.5% Brokerage b) Between Rs. no agency commission can be paid in respect of an insurance where brokerage is payable. Class of business Maximum percentage of premium payable as agency commission or brokerage (% of final premium excluding service tax) Agency Comm. 1999 and in terms of the provisions of Sections 40(1).25 crores 5% iii.15 crs & 25 crs 6.5% 6. 1938. 1. 40A(3) and Section 42E of the Insurance Act.25% 10% 12. Corporate clients (including PSUs) whose paid up capital is: a) Upto Rs.25% . the Authority hereby directs that the percentage of premium that can be paid by way of commission or brokerage on a general insurance policy shall not exceed the percentages of premiums set out below. 033/ IRDA/ Brok-Comm/ DEC-06 Re: Limits on payment of commission or brokerage on general insurance business By virtue of the power vested in the Authority under Section 14 of the Insurance Regulatory and Development Authority Act.171 ircular 04th December. Risks qualifying as large risks under para 19(v) of File & Use Guidelines 5% 6. Fire.5% 7. Engineering insurances i.
In case of sole proprietorship and partnership firms a certificate from a Chartered Accountant to the client should be acceptable. This direction supersedes all existing directions on the subject and shall take effect in respect of insurances or renewals commencing on or after 1 January 2007. Marine Hull insurance 4. Marine Cargo business 5.5% 17.172 2. including “administration or servicing charges” is permitted to be made to the agent or the broker in respect of the business in respect of which he is paid agency commission or brokerage. All other business 10% 15% 15% 12. Motor insurance business (other than third party)*.Rao) Chairman . WC/ EL and statutory PL Business 10% 10% 3. In case of a balance sheet which is 2 years prior to the relevant year of placing insurance an auditor’s certificate must be produced. 1956 should be acceptable.5% * .5% 17.No commission shall be paid on motor third party insurance For the purpose of evidence of paid up capital a copy of the latest Balance Sheet which is in public domain as per the requirements of the Companies Act.S. In respect of branches in India of a foreign company reference should be made to the paid up capital of the company in the country in which it is incorporated converting it into Indian Rupees at the current exchange rate on the date of insurance No payment of any kind. (C.
No brokerage can be paid in respect of an insurance where agency commission is payable and likewise. no agency commission can be paid in respect of an insurance where brokerage is payable. 1999 and in terms of the provisions of Sections 40(1). General ii. This direction supersedes all existing directions on the subject and shall take effect in respect of insurances or renewals commencing on or after 1 st .5% 17. the Authority hereby directs that the percentage of premium that can be paid by way of commission or brokerage on a general insurance policy shall not exceed the percentages of premiums set out below. 40A(3) and Section 42E of the Insurance Act. 1. IAR insurances (% of final premium excluding service tax) Agency Comm. Fire. Maximum percentage of premium payable as agency commission or brokerage Class of Business S. 1938. 2008 Ref: 011/ IRDA/ Brok-Comm/ Aug-08 Re: Limits on payment of commission or brokerage on general insurance business with effect from 1 st October 2008 By virtue of the power vested in the Authority under Section 14 of the Insurance Regulatory and Development Authority Act.25% 10% 3 4 5 6 Nil 12. including “administration or servicing charges” is permitted to be made to the agent or the broker in respect of the business in respect of which he is paid agency commission or brokerage. Brokerage Engineering 10% 12.173 August 25. No. WC/EL & statutory Public Liability Insurance Motor Third Party insurance Nil Marine Hull insurance 10% Marine Cargo business 15% All other business 15% 6.5% and i.5% No payment of any kind. Risks treated as large risks under 5% para 19(v) of File & Use Guidelines 2 Motor insurance business (OD 10% portion).5% 17.
174 October 2008 .Harinarayan) Chairman . (J.
depending upon the CAIIB status of the short listed Officer / Assistant. from an approved institution. to become Composite Insurance Agents. MCS/07-08/13 dated 24. 2. the number of training hours stands reduced to 35 or 75 hours. Training and Certification as Specified Person (CC Circular no. 42/IRDA/Agency/Oct 2007 of 15/10/2007. In case of Officers / Assistants short listed for undergoing both life as well as general insurance training. depending upon their CAIIB status. depending upon their CAIIB status. the number of hours required for practical training stands reduced to 25 or 50 hours .f 1st Nov 2007 Extant Instructions: In terms of extant instructions of IRDA. Officers / Assistants short listed for becoming Certified Insurance Facilitators (for life insurance) or Specified Persons (for General Insurance) would have to undergo 50 or 100 hours of practical training. in terms of Gazette Notifications.10. from an approved institution . from an approved institution. IRDA vide its circular no. depending upon their CAIIB status. has advised that with effect from 1st Nov 2007 . issued on 8th October 2007 (copies enclosed).175 3. Revised Instructions: Now.07) BANCASSURANCE : LIFE and /or GENERAL INSURANCE REDUCTION IN TRAINING HOURS w. from an approved institution .e. regarding IRDA (Training of Insurance Agents) (Amendment) Regulation 2007 and IRDA (Training of Corporate Agents) (Amendment) Regulation 2007. . Composite Insurance Agents eligible for marketing Life as well as General Insurance products were required to undergo 75 or 150 hrs of practical training .
(Rupees two thousand five hundred only) to such employees who successfully complete the training in the subject of non-life insurance and qualify a mandatory test to be conducted by the institutions accredited by IRDA for the purpose.to Rs. Sl. too. 4.5000/. 3. In this connection. there has been an all round increase in prices.11.2003. the Scheme may be extended to cover such employees also. : CDO/P&HRD-LANDD/22/2007 – 08 dated 11 August 2007) 1. No. The Bank. Scheme for Reimbursement of Honorarium : General Insurance 176 Examination fees and Payment of (Vide e-Circular P&HRD.08 Circular No. in the meantime. it has been decided to increase the honorarium payable on obtaining certification for non-life insurance from Rs. It has also been decided that in view of the large-scale appointment of CRE (PB)s. . the Bank needs to significantly focus on marketing efforts and involve more and more employees at the Branch level. All other terms and conditions as mentioned in our aforementioned Circular would remain unchanged. In view of the above. approval had been granted for payment of an incentive of Rs. In terms of extant instructions. The Bank needs to be well prepared by way of adequate number of trained employees who are ready to seek significant business for the Bank by the time the new general insurance business is launched. : 266/2007 .2500/.(Rupees five thousand only).4. 2. The existing Scheme for Payment of Honorarium is now more than four years old and. during the last few years the general insurance market has been growing at a substantial pace.2500/./ HRD/ CDO/ 94/ 878 dated 24. To capture a sizable market-share of the growing business. vide our Cir. This calls for further motivating our employees for going in for certification in a big way. A number of players have entered the market and the existing as well as the new players have adopted aggressive strategies to capture a larger share of the market. is in the process of entering the general insurance market and this is likely in the next six months.
Efficiency of service to the bank would get impacted if customers in general also start sending mails to this id. The id may not be passed on to the customers in general. In the case of any mail landing in this mailbox from other than staff. SBI Card have fixed the turn around time of 2 working days for the feedback/complaints received on this id.com . Helpline SBI Cards has created a dedicated cell for handling service related issues as under: Tel: +91 – 124 – 3987388 E mail id exclusively for SBI Staff: services. Their mails will be acknowledged immediately on receipt thereof. the Turn Around Time will be a maximum of 5 working days. this will be forwarded to feedback.sbi@ge. but cases where some deep/discreet investigations are email@example.com Chapter 6 Credit Cards 1.com The staff can send their feedback/complaints etc at this id.
On Fidelity Mutual Fund Comm. Accounting System for booking of fee/commission/brokerage with BGL and CGL Nos.) Income received by the branches from cross selling is not being reflected correctly in the Branch Performance Report. On Tata Mutual Fund Comm. Gen. On UTI Mutual Fund Comm. From sale 97937 of General . On SBI Life 97924 / Other COMM ON LIFE INSURANCE-GROUP Comm on SBI Life/Others 2. Belapur and since activated by the Central data Centre. Fidelity Mutual Fund 2e. In order to rectify the position. GLCC Description BGL Account 1. Group 7435505001 P FORM Head BGL DESCRIPTION (Entered by branches or CMP Centre by posting the Commission entry 1b. ( CC letter no. about the availability of these accounts. Templeton Mutual Fund 7426505001 7436505001 7437505001 7438505001 7439505001 Comm. Necessary Service desk announcements have already been made by the IT Deptt. Life Insurance (Premium) 1a. Insurance 7428505001 (Premium) Comm. separate General Ledger heads classifying income from selling life insurance/ general insurance/mutual funds/credit cards have been provided in the Core Banking System by Global IT Centre. Tata Mutual Fund 2d. On Templeton Mutual Fund 97925 2399717 2399718 2399719 2399720 Comm on Templeton Mutual Fund Comm. MCS/07-08/18 dated 5th May 2007. from sale of General Insurance Comm on Mutual Fund Comm on UTI Mutual Fund Comm on Tata Mutual Fund Comm on Fidelity Mutual Fund 3. On SBI Mutual Fund Comm. Individual 7428505001 Commission on 2399716 Life Insurance – Group Comm. P FORM Description along with OLCC for Commission GLCC No.178 Chapter 7 Miscellaneous 1. MF (Gross) 2a. UTI Mutual Fund 2c. instructing branches to credit the income proceeds to the correct accounts. SBI Mutual Fund 2b.
insurance agents. to undertake the risk. (b) “Authority” means the Insurance Regulatory and Development Authority established under the provisions of section 3 of the Insurance Regulatory and Development Authority Act. provide for protection of the interest of policyholders. Definitions 2. In exercise of the powers conferred by clause (zc) of sub-section (2) of section 114A of the Insurance Act. except regulation 4(1) which shall come into force on 1st October. “Proposal form” means a form to be filled in by the proposer for insurance. and in the event of . (4) These Regulations apply to all insurers. Products Comm on SBI Card Issue Others 2. 1999 (41 of 1999). in consultation with the Insurance Advisory Committee. hereby makes the following regulations. 2002. Insurance Regulatory and Development Authority (Protection of Policyholders’ Interests) Regulations. for furnishing all material information required by the insurer in respect of a risk. SBI Cards Nos. unless the context otherwise requires: (a) “Act” means the Insurance Act. 7405505001 179 Insurance Products Comm. (3) These Regulations are in addition to any other regulations made by the Authority. On SBI 98328 Card Issu. insurance intermediaries and policyholders. 2002 (2) They shall come into force on the date of their publication in the Official Gazette and shall apply to all contracts of insurance effected thereafter. 1999 (41 of 1999). 1938 (4 of 1938). namely: Short title and commencement (1) These regulations may be called the Insurance Regulatory and Development Authority (Protection of Policyholders’ Interests) Regulations. “Cover” means an insurance contract whether in the form of a policy or a cover note or a Certificate of Insurance or any other form prevalent in the industry to evidence the existence of an insurance contract. in order to enable the insurer to decide whether to accept or decline. which may. 2002.4. the Authority. (1) In these regulations. 1938 (4 of 1938) read with sections 14 and 26 of the Insurance Regulatory and Development Authority Act. inter alia.
1939 and includes a brochure or leaflet serving the purpose. exceptions and conditions of the insurance cover and. 3.180 acceptance of the risk. in its books. 1939 shall have the meanings respectively assigned to them in those Acts or the Rules. (f) Words and expressions used and not defined in these regulations. (e) “Prospectus” means a document issued by the insurer or in its behalf to the prospective buyers of insurance. . terms and conditions of a cover to be granted. the premium relatable to all the riders put together shall exceed 30% of the premium of the main product. (31 of 1956) or the General Insurance Business (Nationalisation) Act 1972 (57 of 1972). Explanation: “Material” for the purpose of these regulations shall mean and include all important. Such a document should also specify the type and character of riders on the main product indicating the nature of benefits flowing thereupon. participating or non-participating and accordingly the life insurer shall make provisions. in case of life insurance. (2) An insurer or its agent or other intermediary shall provide all material information in respect of a proposed cover to the prospect to enable the prospect to decide on the best cover that would be in his or her interest.. but defined in the Act. etc. viz. such a person must advise the prospect dispassionately. and in no case. and should contain such particulars as are mentioned in Rule 11 of Insurance Rules. or the Life Insurance Corporation Act. a prospectus of any insurance product shall clearly state the scope of benefits. (3) Where the prospect depends upon the advice of the insurer or his agent or an insurance intermediary. 1999 (41 of 1999) or the Insurance Rules. or the Insurance Regulatory and Development Authority Act. essential and relevant information in the context of underwriting the risk to be covered by the insurer. to determine the rates. The allowable rider or riders on the product shall be clearly spelt out with regard to their scope of benefits. whether the product is participating (with-profits) or nonparticipating (without-profits). the extent of insurance cover and in an explicit manner explain the warranties. Point of Sale (1) Notwithstanding anything mentioned in regulation 2(e) above. 1956. Explanation: The rider or riders attached to a life policy shall bear the nature and character of the main policy.
the insurer shall draw the attention of the proposer to it and encourage the prospect to avail the facility. (2) Forms and documents used in the grant of cover may. a certificate may be incorporated at the end of proposal form from the prospect that the contents of the form and documents have been fully explained to him and that he has fully understood the significance of the proposed contract.181 (4) Where. either for life business or for general business. in all cases. within 30 days of the acceptance of a proposal. the insurer or its agent or any intermediary shall act according to the code of conduct prescribed by: the Authority the Councils that have been established under section 64C of the Act and the recognized professional body or association of which the agent or intermediary or insurance intermediary is a member. the insurer shall record the information obtained orally or in writing. (5) Wherever the benefit of nomination is available to the proposer. and confirm it within a period of 15 days thereof with the proposer and incorporate the information in its cover note or policy. a proposal for grant of a cover. Any proposal form seeking information for grant of life cover may prominently state therein the requirements of Section 45 of the Act. where current market practices do not insist on a written proposal form. In the process of sale. a copy of the proposal form. depending upon the circumstances of each case. in terms of the Act or the conditions of policy. (3) In filling the form of proposal. i. be made available in languages recognised under the Constitution of India. (6) Proposals shall be processed by the insurer with speed and efficiency and all decisions thereof shall be communicated by it in writing within a reasonable period not exceeding 15 days from receipt of proposals by the insurer. . for any reason. It is the duty of an insurer to furnish to the insured free of charge. where the insurer claims that the proposer suppressed any material information or provided misleading or false information on any matter material to the grant of a cover. (4) Where a proposal form is not used. the prospect is to be guided by the provisions of Section 45 of the Act. Proposal for insurance (1) Except in cases of a marine insurance cover. 4. The onus of proof shall rest with the insurer in respect of any information not so recorded. must be evidenced by a written document. the proposal and other connected papers are not filled by the prospect.
(j) contingencies excluded from the scope of the cover. deferred bonus. (g) the premiums payable. Matters to be stated in life insurance policy (1) A life insurance policy shall clearly state: (a) the name of the plan governing the policy. 6. the documents that are normally required to be submitted by a claimant in support of a claim under the policy. . the implication of discontinuing the payment of an instalment(s) of premium and also the provisions of a guaranteed surrender value. (c) the basis of participation in profits such as cash bonus. (i) the policy requirements for (a) conversion of the policy into paid up policy. (k) the provisions for nomination. the date the last instalment of premium. any special clauses or conditions. (e) the details of the riders attaching to the main policy.. grace period allowed for payment of the premium. and the address of the insurer to which all communications in respect of the policy shall be sent. (d) the benefits payable and the contingencies upon which these are payable and the other terms and conditions of the insurance contract. its terms and conditions. such as. assignment. both in respect of the main policy and the riders. (f) the date of commencement of risk and the date of maturity or date(s) on which the benefits are payable. Grievance redressal procedure Every insurer shall have in place proper procedures and effective mechanism to address complaints and grievances of policyholders efficiently and with speed and the same along-with the information in respect of Insurance Ombudsman shall be communicated to the policyholder along-with the policy document and as maybe found necessary. (b) surrender (c) non-forfeiture and (d) revival of lapsed policies. periodicity of payment. and loans on security of the policy and a statement that the rate of interest payable on such loan amount shall be as prescribed by the insurer at the time of taking the loan. simple or compound reversionary bonus. (b) whether it is participating in profits or not. first pregnancy clause. suicide clause etc. (h) the age at entry and whether the same has been admitted.182 5.
in addition to the deductions under sub-regulation (2) of this regulation. where appropriate. the basis of adjustment of premium be stated. (b) full description of the property or interest insured. . In case where age has not been admitted by the time the policy is issued. with respective insured values. where premium charged is dependent on age. the insurer shall make efforts to obtain proof of age and admit the same as soon as possible. the insurer shall inform by the letter forwarding the policy that he has a period of 15 days from the date of receipt of the policy document to review the terms and conditions of the policy and where the insured disagrees to any of those terms or conditions. (i) premium payable and where the premium is provisional subject to adjustment. (e) sums insured. (f) perils covered and not covered. (k) action to be taken by the insured upon occurrence of a contingency likely to give rise to a claim under the policy. (c) the location or locations of the property or interest insured under the policy and. the insurer shall also be entitled to repurchase the unit at the price of the units on the date of cancellation. he has the option to return the policy stating the reasons for his objection. the insurer shall ensure that the age is admitted as far as possible before issuance of the policy document. (j) policy terms. subject only to a deduction of a proportionate risk premium for the period on cover and the expenses incurred by the insurer on medical examination of the proposer and stamp duty charges. 7. when he shall be entitled to a refund of the premium paid. (d) period of Insurance. (4) In respect of a cover. (h) any franchise or deductible applicable. Matters to be stated in general insurance policy (1) A general insurance policy shall clearly state: (a) the name(s) and address(es) of the insured and of any bank(s) or any other person having financial interest in the subject matter of insurance.183 (2) While acting under regulation 6(1) in forwarding the policy to the insured. conditions and warranties. (3) In respect of a unit linked policy.
However. Claims procedure in respect of a life insurance policy (1) A life insurance policy shall state the primary documents which are normally required to be submitted by a claimant in support of a claim. Any queries or requirement of additional documents. provision for cancellation of the policy on grounds of misrepresentation. • • • (2) Every insurer shall inform and keep informed periodically the insured on the requirements to be fulfilled by the insured regarding lodging of a claim arising in terms of the policy and the procedures to be followed by him to enable the insurer to settle a claim early. (m) • any special conditions attaching to the policy. the life insurance company shall pay interest on the claim amount at a rate which . the address of the insurer to which all communications in respect of the insurance contract should be sent. (3) A claim under a life policy shall be paid or be disputed giving all the relevant reasons. (5) Where there is a delay on the part of the insurer in processing a claim for a reason other than the one covered by sub-regulation (4). to the extent possible. non-disclosure of material facts or noncooperation of the insured. it shall initiate and complete such investigation at the earliest. the details of the riders attaching to the main policy. (2) A life insurance company. (4) Subject to the provisions of section 47 of the Act. shall be raised all at once and not in a piece-meal manner. proforma of any communication the insurer may seek from the policyholders to service the policy. shall process the claim without delay. Where in the opinion of the insurance company the circumstances of a claim warrant an investigation. where a claim is ready for payment but the payment cannot be made due to any reasons of a proper identification of the payee. upon receiving a claim. the life insurer shall hold the amount for the benefit of the payee and such an amount shall earn interest at the rate applicable to a savings bank account with a scheduled bank (effective from 30 days following the submission of all papers and information). within a period of 15 days of the receipt of the claim. fraud. where the circumstances of a claim warrant an investigation in the opinion of the insurance company. 8.184 (l) the obligations of the insured in relation to the subject matter of insurance upon occurrence of an event giving rise to a claim and the rights of the insurer in the circumstances. it shall initiate and complete such investigation at the earliest. in any case not later than 6 months from the time of lodging the claim. within 30 days from the date of receipt of all relevant papers and clarifications required.
(5) On receipt of the survey report or the additional survey report. Claim procedure in respect of a general insurance policy (1) An insured or the claimant shall give notice to the insurer of any loss arising under contract of insurance at the earliest or within such extended time as may be allowed by the insurer. it shall do so within a period of 30 days from the receipt of the survey report or the additional survey report. in special circumstances of the case. either due to its special and complicated nature. (3) If an insurer. an insurer shall within a period of 30 days offer a settlement of the claim to the insured. the payment of the amount due shall be made within 7 days from the date of acceptance of the offer by the insured. to furnish an additional report on certain specific issues as may be required by the insurer. decides to reject a claim under the policy. Such a request may be made by the insurer within 15 days of the receipt of the original survey report provided that the facility of calling for an additional report by the insurer shall not be resorted to more than once in the case of a claim. as the case may be. and shall communicate his findings to the insurer within 30 days of his appointment with a copy of the report being furnished to the insured. it shall be so done within 72 hours of the receipt of intimation from the insured. In no case shall a surveyor take more than six months from the date of his appointment to furnish his report. on the receipt of a survey report. 9. finds that it is incomplete in any respect. The surveyor shall be subjected to the code of conduct laid down by the Authority while assessing the loss. seek an extension from the insurer for submission of his report. a general insurer shall respond immediately and give clear indication to the insured on the procedures that he should follow. if he so desires. for any reasons to be recorded in writing and communicated to the insured. On receipt of such a communication. In cases where a surveyor has to be appointed for assessing a loss/ claim. Where. as the case may be.185 is 2% above the bank rate prevalent at the beginning of the financial year in which the claim is reviewed by it. shall inform in writing the insured about the delay that may result in the assessment of the claim. the insurer or the surveyor as the case may be. (2) Where the insured is unable to furnish all the particulars required by the surveyor or where the surveyor does not receive the full cooperation of the insured. (4) The surveyor on receipt of this communication shall furnish an additional report within three weeks of the date of receipt of communication from the insurer. In the cases of delay . If the insurer. the surveyor shall under intimation to the insured. he shall require the surveyor under intimation to the insured. (6) Upon acceptance of an offer of settlement as stated in sub-regulation (5) by the insured.
(4) Any breaches of the obligations cast on an insurer or insurance agent or insurance intermediary in terms of these regulations may enable the Authority to initiate action against each or all of them. the insurer shall be liable to pay interest at a rate which is 2% above the bank rate prevalent at the beginning of the financial year in which the claim is reviewed by it. General (1) The requirements of disclosure of “material information” regarding a proposal or policy apply. (3) The policyholder shall furnish all information that is sought from him by the insurer and also any other information which the insurer considers as having a bearing on the risk to enable the latter to assess properly the risk sought to be covered by a policy. (f) issuance of duplicate policy. Policyholders’ Servicing (1) An insurer carrying on life or general business. noting a change of interest or sum assured or perils insured. such as: (a) recording change of address. . if the latter so requires. surrender value and entitlement to a loan. as the case may be. in the prosecution of a proceeding or in the matter of recovery of claims which the insurer has against third parties. and (h) guidance on the procedure for registering a claim and early settlement thereof. 1999. 11. jointly or severally. 10.186 in the payment. financial interest of a bank and other interests. shall at all times. such as. accrued bonus. under the Act and/or the Insurance Regulatory and Development Authority Act. (2) The policyholder shall assist the insurer. (d) providing information on the current status of a policy indicating matters. (g) issuance of an endorsement under the policy. (b) noting a new nomination or change of nomination under a policy. both to the insurer and the insured. respond within 10 days of the receipt of any communication from its policyholders in all matters. (e) processing papers and disbursal of a loan on security of policy. under these regulations. (c) noting an assignment on the policy.
Interact with CirMAC members.187 3. SBI Fund Management Ltd. Assist the network in selling the products / services of the Subsidiaries – e. Help conduct refresher product training and certification training programmes at regular intervals. 10. Participate in Network level and Regional ‘P’ Review meetings and arrange for monthly review of performance of Branches. General Managers heading Regions and Heads of Branches on a regular basis to promote cross-selling. General Manager (Network). Arrange for publicity of products and services at the Circle / Network level.g. etc. 8. with the approval of the CMC to Network for selling the products and services of the Subsidiaries of the Bank/General Insurance Company. 2. 3. General Manager and SBI Cards products. Asst. insurance products. 6. Draw up plans for marketing and cross selling the products and services of the Subsidiaries / Joint Ventures of the Bank thought the branch in the Network and monitor their implementation. Interact and inter face with officials of subsidiaries / Joint Ventures like SBI Life. Co-ordinate with Marketing – Cross Selling Department at the Corporate Centre in setting targets. To interact with functionaries in the . 9. Mutual Fund products. Role Sheet of Chief Managers / Asst. 4. Arrange for performance review and put up periodic activity reports to the CMC and Corporate Centre at monthly intervals (as per format below). Network and guide them. General Managers (Cross Selling) In the Circles 1. 7. vis-à-vis the targets set. Identify suitable branches for delivery of products / services of the Subsidiaries / General Insurance Company in consultation with Circle functionaries / Network functionaries. 5.
to seek feedback and to share 12. trained No. Actively cross-sell to MCG/CAG units within the geographical area of the Network/Circle. Co-ordinate with and participate in product presentation to Corporates. Cross Selling Activity Report for the Month of ……………………. 13. INCOME Commission as reported Budgeted Income Commission as by category by Commission Branch P report Company upto the month Partner upto the month SBI Life SBI MF UTI MF Tata MF Franklin Templeton MF Fidelity MF Others New India SBI Cards Total per B. of Participants) Conducted Conducted by by by the Companies C. institutions and groups of customers arranged / organized by Regions / Network. in Lacs) A. (Rs. Interact with the training system. Details Marketing (No. information.188 11. Trainings for Proposed Certfication as Circle CIF ACEs SPs Total (No. of Personnel) of Trained at the No. passed during the beginning of the during the Month .
LHO/RBO/Branches/Others a) Location b) Details c) Business Booked/ Remarks E. of personnel trained as CIF/ACE/SP at the end of the month Marketing Personnel CRE OMR CRA RM-PB RM ME Others Total Details of Marketing Activity / Special Campaigns Undertaken at D.Personnel Trained CRE OMR month 189 Month CRA RM-PB RM ME Others Total Total no. Details of Major Campaigns / Promotion launched by our Partners . Details of Cross Selling Activities for CAG/MCG Units: a) Location b) Contacts Made/ Details c) Business Booked/ Remarks F.
190 Chief General Manager (Cross Selling) ………………………Circle Date: .
in the form of a report (called “Insurance Agent’s Confidential Report”) along with every proposal submitted to the insurer. if asked by the prospect. Certified Insurance Facilitators (CIFs) and Specified Persons (SPs).e. iv) v) vi) vii) viii) ix) . disseminate the requisite information in respect of insurance products offered for sale by his insurer and take into account the needs of the prospect while recommending a specific insurance plan. bring to the notice of the insurer any adverse habits or income inconsistency of the prospect.191 4. 2) Every CIF/SP shall follow the code of conduct specified below: 13. by making all reasonable enquiries about the prospect.--i) ii) iii) identify himself and the insurance company of whom he is a representative. Code of Conduct for Certified Insurance Facilitators (CIFs) and Specified Persons (SPs): Para 9 of LICENSING OF CORPORATE AGENTS REGULATIONS. indicate the premium to be charged by the insurer for the insurance product offered for sale. 2002 dated 16th October. explain to the prospect the nature of information required in the proposal form by the insurer. disclose his licence/ certificate to the prospect on demand. and any material fact that may adversely affect the underwriting decision of the insurer as regards acceptance of the proposal. 2002 issued by Insurance Regulatory and Development Authority prescribes a Code of Conduct for Insurance Agents i. obtain the requisite documents at the time of filing the proposal form with the insurer. disclose the scales of commission in respect of the insurance product offered for sale. Every corporate agent/ corporate insurance executive/ specified person shall. inform promptly the prospect about the acceptance or rejection of the proposal by the insurer. and other documents subsequently asked for by the insurer for completion of the proposal. and also the importance of disclosure of material information in the purchase of an insurance contract.
192 x) render necessary assistance to the policyholders or claimants or beneficiaries in complying with the requirements for settlement of claims by the insurer. as the case may be. and offer necessary assistance in this behalf. xi) . wherever necessary. advise every individual policyholder to effect nomination or assignment or change of address or exercise of options.
demand or receive a share of proceeds from the beneficiary under an insurance contract. offer different rates. with a view to conserve the insurance business already procured through him.No CIF/SP shall. apply for fresh licence to act as an insurance agent. interfere with any proposal introduced by any other specified person or any insurance intermediary. v.---i./New India Assurance Co. vii. if his licence was earlier cancelled by the designated person.Establishment and General Administration. ii. iii. by giving notice to the policyholder orally and in writing. viii. iv. solicit or procure insurance business without holding a valid licence/ certificate. With a view to protecting the Bank’s interests the contents of bank’s book of instructions. make every attempt to ensure remittance of the premiums by the policyholders within the stipulated time. and a period of five years has not elapsed from the date of such cancellation. (iii) Every CIF/SP shall. were engaged in mis-selling of insurance products. Chapter 1. Booking of policies to the Bank’s customers through the Agency channel also results in loss of revenue to the Bank. v) Feedback received indicated that some CIFs/SPs who are also relatives of agents employed by SBI Life Insurance Co. xi. induce the prospect to omit any material information in the proposal form. terms and conditions other than those offered by his insurer. x. become or remain a director of any insurance company. vi. induce the prospect to submit wrong information in the proposal form or documents submitted to the insurer for acceptance of the proposal. Volume 1. exposing the Bank to significant reputational risk. No corporate agent shall have a portfolio of insurance business from one person or one organization or one group of organizations under which the premium is in excess of fifty percent of total premium procured in any year. Para 1. ix. force a policyholder to terminate the existing policy and to effect a new proposal from him within three years from the date of such termination. Annexure-I (VI) . (iv) No CIFSP shall hold similar position with another corporate agent of any other insurance company. advantages.193 iv. behave in a discourteous manner with the prospect.
ii) An employee guilty of infringing any of the provisions of paragraph may render himself liable to dismissal from the service (CC letter no. An employee of the Bank may not act as agent for an Insurance Company otherwise than for or on behalf of the bank. etc. owned or managed by a member of his family shall be deemed to be breach of this sub rule. commission agency.194 1. Explanation: (i) canvassing by an employee in support of the business of insurance agency. MCS/06-07/244 dated 30th March 2007) .
03. RMPBs. and various other details of information regarding our customers.2007) a) A number of branches are being approached of late by sales agents purporting to be Sales Executives of our subsidiaries. Branches are persuaded that the information is sought only for selling/cross selling Banks products and has the concurrence of the Controlling Office. obtained the customer’s signature and assent in the application form and then forwarded the customer’s data to a Subsidiary.2005 and PBBU/MCS/06-07/232 dated 12. three months statements of accounts etc. brokerage etc. Addresses. it will not be proper to share customer data without the specific written consent of the customer. Branches should provide information in respect of the account including copy of the statements only on receipt of specific authority signed by the customer to furnish the information. This also does not apply to CIFs. thereby enhancing the value of our existing relationship and earns the Branch income by way of commission. .07. Such written authority should be retained in the Branch and filed with the Account Opening form. c) This will not prevent the Branch staff from offering the products of our subsidiaries to our customers over the counter or through mailers. telephone numbers. melas and any other sales effort organized by the Bank. This applies even to our own subsidiaries. BBU/MCS/Card/21/77 dated 21.195 5. does not benefit the Branch. b) It is reiterated that as per the extant instructions of Reserve Bank of India. ACEs. who have booked business for the Bank. OBSF etc. campaigns. d) Passing on addresses of customers to agents who are not fully aware of the sensitivity of the relationship with the branch and do not understand the customer needs fully. SPs. They have reportedly requested our branches to furnish details of Names. Our endeavour should be to Cross sell the products to our customers ourselves. Sharing of Customer Information (vide CC letter nos.
196 Appendix MASTER CIRCULAR MARKETING .CROSS SELLING LIST OF CIRULARS CONSOLIDATED IN THE MASTER CIRCULAR S.No. Circular/Letter Number Date Subject .