A PROJECT REPORT ON

“ANALYSIS OF SERVICES OF PUNJAB & SIND
BANK”
Submitted in the partial fulfillment of the requirements for the award of the Degree Of

Bachelor of Business Administration
(Banking and Insurance) TO

GURU GOBIND SINGH INDRAPRASTHA UNIVERSITY, DELHI
GUIDE: SUBMITTED BY:

BLS INSTITUTE OF TECHNIOLOGY MANAGEMENT
(Affiliated to Guru Gobind Singh Indraprastha University) Delhi-Rohtak Road, NH-10, Jakhoda,Bahadurgarh (Haryana) Ph- 01276-241922, 241822, 241122E- mail:blsitm@gmail.com
BATCH (2008-2011)

DECLARATION

I Mr. , Roll Nocertifies that the Project Report (Paper Code BBA .......) entitled “ANALYSIS OF SERVICES OF PUNJAB & SIND BANK” is done by me and it is an authentic work carried out by me. To the best of my knowledge and belief, the material embodied in this Report has not been submitted earlier for the award of any Degree or Diploma by any University or Institution.

Signature of the Student Date:

CERTIFICATE
Certified that the Project Report (Paper Code BBA –

Code No.) entitled “ANALYSIS OF SERVICES OF PUNJAB & SIND BANK” done by Mr. /Ms., Roll No. has been completed under my guidance and supervision.

Signature of the Guide Date: Name of the Guide: Designation:

Countersigned

Director

ACKNOWLEDGEMENT

I take this opportunity to express my deep sense of gratitude that I got a great chance to study within such an esteemed institute. The amount of exposure and support, which I have been received during my study here, has been simply outstanding. A special word of thanks to Ms. SAVITA MAM, (faculty) (BLSITM) for giving me an opportunity to work under her guidance. I am deeply indebted to her, under whose guidance and supervision I was able to complete my project report. I express my special thanks to the entire faculty for their support and spending time for necessary information gathering data collection for the study. I am grateful to them, for giving me this opportunity to pursue my graduation. A special word of thanks to Ms. SAVITA my project guide, for her continuous support during the tenure of the project.

CONTENTS

4 Sampling Plan 5.1 Data Analysis 6.S No 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 Certificate (s) Acknowledgements List of Tables List of Figures List of Symbols List of Abbreviations Topic Page No Chapter-1: General Introduction (Industrial Background) Chapter-2: Introduction to the Problem 2.2 Purpose of the Study 2.3 Research Instruments 5.3 Objectives of the Study 2.4 Hypothesis 2.6 Analysis – Statistical Tool Chapter 6: Data Preparation 6.5 Field Work 5.5 Scope of the Study Chapter 3: A Brief Description of the Organization Profiles Chapter 4: Theoretical Perspectives Chapter 5: Methodology 5.1 Research Approach (Design) 5.2 Data Collection Methods/Sources 5.1 Statement of the Problem 2.2 Hypothesis Testing Chapter 7: Findings Chapter 8: Limitations Chapter 9: Conclusions and Recommendations Appendices and Annexures List of References .

The bank was founded on the principle of social commitment to help the weaker section of the society in their economic endeavours to raise their standard of life. To achieve the highest standards of transparency and accountability in the conduct of banking business. To adopt and operationalise high-level technology standards. through planned reduction in the average cost of funds. . even today Punjab & Sind Bank stands committed to honor the social commitments of the founding fathers. Corporate Mission To put in place the effective Risk Management and Internal Control Systems. when a humble idea to uplift the poorest of poor of the land culminated in the birth of Punjab & Sind Bank with the far-sighted vision of luminaries like Bhai Vir Singh. Sir Sunder Singh Majitha and Sardar Tarlochan Singh. increased yield on advances and investments besides reduction in cost of operations. To maximize profitability and profits of the Bank with due compliance of prudential guidelines. To adopt professional approach in effectively managing financial as well as non-financial risks.Introduction HISTORY It was in the year 1908. financial and technological resources. Decades have gone by. VISION & MISSION Corporate Vision We envision to emerge as a strong vibrant Bank through the implementation of effective Risk Management and Internal Control Systems through syncronization of the human. They enjoyed the highest respect with the people of Punjab. To maximize competitive risk adjusted return on capital. To strive to achieve excellence in Customer Service.

K. SADANANDAM (RBI NOMINEE DIRECTOR) SARDAR AVTAR SINGH MANN (Officer's Director) SARDAR MOHAN SINGH SEKHON (Workman Employee Director) MAJOR MISS KRISHNA MOHINI SHRI HARCHARAN SINGH JOSH SHRI UMESH KUMAR SHARMA NON.MATTA CHAIRMAN & MANAGING DIRECTOR DIRECTOR SARDAR EXECUTIVE DIRECTORS SHRI R. SINGH. SHARMA MRS.S.MANAGEMENT SARDAR R.A.P. I. KAMAL MANN .S G.OFFICIAL DIRECTORS SHRI K.

We will also inform you about liquid deposit facility.BRANCH NETWORK The corporate office of the bank is situated at Rajendra Place. The charges applicable for various services/ products in such an account will be indicated in a separate Tariff Schedule. In line with the spirit of liberalisation. term deposits. at the time of opening of account. which will be made known to you at the time of opening of the account in a transparent manner. 'No Frills' Account We will make available a basic banking 'No Frills' Account either with 'nil' or very low minimum balances. These branches are manned by a dedicated work force of 9778 personnel. New Delhi with 19 zonal offices (as on 30.2006) spread all over India catering to the needs to all section of society irrespective of their social and economic strata. the Bank is laying special stress on International Banking Divisions. The nature and number of transactions in such accounts may be restricted. The Bank has a vast network of 813 branches and 76 extension counters (as on 31. Special Accounts . iv. Deposit Accounts You may open different type of accounts with us such as. iii. current accounts including 'No Frills' Account etc with us. We will explain the implications of the foregoing accounts as also the nomination facilities at the time of opening of the account.03.09. savings accounts. You may open such accounts in the following stylesi) i. vi. Single Joint Joint (Either or Survivor) Joint (Former or Survivor) Joint (Latter or Survivor) Or in any other style The above may be opened by you with or without nomination facility. Merchant Banking. Telebanking & Credit Card.2004) scattered in various states controlling the branches. Hire Purchase and Leasing. sweep account and similar types of products offered by us and their implications and procedures involved. ii. v.

For transactions above a specified amount we may require you to furnish your PAN Number. proceed as per our cheque collection policy and provide all assistance for you to obtain a duplicate cheque/instrument in case a cheque instrument tendered by you is lost in transit d. This will include making convenient policies. Examples of circumstances. utility bills etc. Normally no cheque book facility is provided to illiterate persons and blind persons. . such as the limit up to which instruments tendered by you can be credited. physically challenged persons and illiterate persons to bank with us. what period of inoperation of the account would render your account being classified as dormant/ inoperative account. we will not close your account without giving you at least 30 days notice. operating accounts satisfactorily. tell you about the clearing cycle for local instruments and the outstation instruments including details such as when you can withdraw money after lodging collection instruments and when you will be entitled to earn delayed interest as per our Cheque Collection Policy. c. tell you when you open your account. you will be required to make alternate arrangements for cheques already issued by you and desist from issuing any fresh cheques on such account. Cash Transactions We will accept cheques/ cash and dispense cash at counters wherever your account is maintained. which are not 'normal'. we will consider issuing of cheque book with safeguards to protect your interest. give the above information when you open your account and whenever you ask us. b. However. Dormant/ Inoperative Accounts We will a. etc. tell you the procedure to be followed if you want to activate the account . In all such cases. We will exchange soiled/mutilated notes and/ or small coins at such of our branches as per RBI Directives. if we offer immediate credit for outstation cheques. the revised policy will be displayed on our website and at all our branches. If there is any change in our policy. including the applicable terms and conditions.We will make our best efforts to make it easy and convenient for our special customers like senior citizens. products and services for such applicants and customers. We will inform the procedure for opening of the account and other terms and conditions to blind /other physically challenged persons provided he/she calls on the Bank personally along with a witness who is known to both such person and the bank. You will also be informed three months before your account is classified as dormant. Closing Your Account Under normal circumstances. to meet periodic repayment of retail loans. b. inoperative or treated as unclaimed account and the consequences including the charges for reactivation thereof as per the Tariff Schedule. include improper conduct of account etc. Clearing Cycle / Collection Services We will a. provide details.

vii. have to pay the foreign bank's charges. If money is transferred to your bank account from abroad. iii. In case of delay beyond the day when the amount is due for credit. we will tell you the original amount received and charges if any levied. we will tell you how to do this and will give you: i. vi. When you buy or sell foreign exchange. we will let you know later what the rate is). b. viii. if any. in case we offer the service. We will tell you if the information provided by you for making a payment abroad is adequate or not. Details of when the money you have sent abroad should get there and the reasons for delays. If you want to transfer money abroad. If the sender has agreed to pay all charges. If this is not possible. you will be compensated (a) for any loss on account of interest for due period beyond the due date and (b) also for adverse movement of forex rate as per the compensation policy of the bank. details of the exchange rate and other charges which apply to foreign exchange transactions. . we will advise you immediately and assist you to rectify/complete the same. Foreign Exchange Services a. we will give you information on the services. we will tell you how these will be worked out. All certificates required to be issued under regulatory/statutory instructions will be issued free of charge. ix. Details of any commission or charges. We will guide you about regulatory requirements or conditions relating to foreign exchange services offered by us as and when requested by you. In case of any discrepancies or incomplete documentation. which you will have to pay and a warning that the person receiving the money may also. iv. v. A description of the services and how to use them. The exchange rate applied when converting to the foreign currency (if this is not possible at the time of the transaction. ii.Safe Deposit Lockers We will give you the complete details of the rules and the procedures applicable for the safe deposit lockers and also safe deposit of valuables. we will not take any charges when we pay the money into your account.

that would make accessible banking to vast section of society. Associations. Or Any other evidence as to the identity and address of the customer to the satisfaction of branch incharge. An account holder qualifying KYC norms whose account is at least six month old with satisfactory operations may introduce the account.Product and Services (1)Saral Savings Scheme Under the RBI direction to achieve greater financial inclusion Bank has since introduced a no frill deposit account named as "_SARAL SAVINGS SCHEME". 500/Rural Branches I) Account with or without cheque Book facility Rs.and thereafter the balance may go below Rs 100/. which has been deprived of the banking facilities till date. (2) Saving Bank account Such accounts can be opened by Individuals (singly or jointly). . educational institutions.and will continue to be operative with even zero balance. 1000/I) Where cheque Book is not issued Rs.100/- CURRENT ACCOUNT . Introduction of the account. 500/Computerized Branches II) Where cheque Book is issued Rs. Basic feature of the account shall be as under:Such accounts shall remain operative even when these have Zero balance & can be opened in any branch of the bank "Saral Savings Account" can be opened with the initial deposit of Rs100/. unless the account holder request to close the account. clubs. 250/Non–Computerized Branches II) Where cheque Book is issued Rs. Minimum Balance in Account I) Where cheque Book is not issued Rs. No charges shall be levied in this regard.

fresh specimen signature of erstwhile minor duly verified by the natural guardian / guardian would be obtained and kept on record for all operational purpose. RECURRING DEPOSIT SCHEME Who can open an account + An individual who is not insolvent or insane. private and public limited companies. The account can also be opened jointly. Documents normally accepted are the current.Minimum period six months. etc. company. Maximum tenure . iv) You are required to give Permanent Account Number (PAN) or alternatively obtain declaration in Form No. a firm. partnership firms. 60 or 61 as per the Income Tax Act (vide Section 139A) from the person(s) opening the account (i. iii) We also require a satisfactory introduction of the person(s) opening the account by a person acceptable to the Bank and will require to obtain two recent photographs of the person(s) opening/operating the account. can open an account singly or jointly. etc. .Maximum of any amount per month. gas/telephone/electricity bill/ration card/voter’s identity card/driving licence/passport. HUFs/specified associates. including verification of address. Body. Association . Co-operative societies.Maximum 10 years. we satisfy ourselves about the identity. if he / she is above the age of 10 years. while opening this account. or Semi Govt. 10/Maximum deposit in the Account . including partners of Registered/Unregistered partnership as also Registered / Incorporated bodies / companies). Minimum and Maximum tenure Minimum tenure .i) Current Accounts can be opened by individuals. + A minor can open Saving bank Account and the same can be ope rated by the natural guardian or by minor himself / herself. + Such accounts can be opened by Individuals (singly or jointly). of a person(s) seeking to open an account to assist in protecting the right of customer(s) and ourselves against fraud and other misuses of the banking system. religious and charitable institutions etc. Govt. as per RBI directives. ii) As required by law. trusts. + On attaining majority. club.e.Minimum of Rs. v) We provide to our prospective customers details of the documents/required for identification of the person(s) opening the account in addition to a satisfactory introduction. Minimum deposit in the Account . Institution. the erstwhile minor should confirm the balance in his / her account and if the account is operated by the natural guardian / guardian.

if the ex-staff member is also a senior citizen. Joint Hindu family firms and public undertakings.15.f 20. * On attaining majority. FIXED DEPOSIT Who can open an account * An individual who is not insolvent or insane. The account can also be opened jointly.0. Minors (through their guardians) firms. however.1. corporate bodies. * Nomination facility is available for depositors Senior Citizens Additional interest benefit to Senior Citizen over and above card rate only for Term Deposits upto Rs.00% Staff / Ex-staff members Staff/ Ex-staff members are eligible for 1% extra rate of interest. he will be eligible for additional interest being senior citizen as above. VARIOUS FIXED DEPOSIT SCHEMES OF THE BANK 1)FIXED DEPOSIT SCHEME ORDINARY Under this scheme any sum can be placed for any fixed period ranging from 15 days to 120 months and the interest accrued can be withdrawn at the quarterly intervals Minimum period of 7 days also permissible (conditions apply) 2)SAVING WITH SMILE DEPOSIT SCHEME . Regd.01.50% ii)for term deposits for 1 Year and above .e. trusts. Associations.Rate of Interest + As per rate applicable to fixed Deposit for the respective maturity period. the erstwhile minor should confirm the balance in his / her account and if the account is operated by the natural guardian / guardian.00 lacs w. * Such account can be opened in the name of individuals (singly or jointly.2006 i)for term deposits for less than 1 Year . * A minor can open Saving bank Account and the same can be ope rated by the natural guardian or by minor himself / herself. if he / she is above the age of 10 years. fresh specimen signature of erstwhile minor duly verified by the natural guardian / guardian would be obtained and kept on record for all operational purpose. can open an account singly or jointly.

3)SHORT TERM DEPOSIT SCHEME It is a reinvestment deposit scheme under which the depositor can place the funds for short period and still can reap the benefits of compound interest. The scheme also provides flexibility in depositing the installments with minimum of Rs. 1961. Any amount of deposit shall be accepted under this scheme for a minimum period of 6 months and a maximum period of 36 months 4)CAPITAL GAIN DEPOSIT SCHEME This is a scheme under which the tax payers can avail of benefits of exemption from Capital gains.) as amended from time to time.1000/-. The scheme is specially designed to help the farmers to invest their surplus funds at the time of each harvesting . (Subject to conditions as contained in relevant provisions of I. Any amount of deposit shall be accepted under this scheme for a minimum period of 36 months and a maximum period of 120 months. only if the amount of Capital gains or the net consideration is deposited in Public Sector Banks on or before their due date of filling the income tax return. under which compound interest is paid. The deposit of installments is correlated with the harvesting of Hari (Rabi) / Savni Kharif) crops and is required to be deposited each year before 30th June and 31st December every year. The interest is compounded at quarterly intervals but paid along with principal at the time of maturity of deposit. .It is a reinvestment plan deposit scheme. 6)P S B FIXED DEPOSIT TAX SAVER SCHEME Bank has formulated Fixed Deposit Scheme for Tax Saving under Section 80 C (2) of the Income Tax Act.Tax Act 1961. 5)HARHI SAVNI (Rabi Kharif) JAMA YOJNA Harhi savni (Rabi Kharif) Jama Yojna is a unique scheme offered by Punjab & Sind Bank to its farmer friends.and in multiples thereof to any amount.

3. 8. 9. 11 P&SB kheti udyog khazana yojana (KUKY) . 10 Scheme for financing self help groups (SHGS) .BENCHMARK PRIME LENDING RATE (BPLR) Interest rates applicable for domestic credit (Commercial & Institutional Advances 13. 5.50%) 1. 6.compositing unit . scheme for agricultural activities 13 P&SB scheme for vermi . extension services 15 P&SB scheme for soil water quality and inputs testing . 14 P&SB scheme for eco-hatchery for carp seed production and . 2. laboratory services centre 16 P&SB scheme for plant protection service centre Zimidara credit card P&SB policy for financing of Small & Medium Enterprises P&SB tractor finance & tractor welfare fund scheme P&SB scheme for financing of old tractors P&SB drip irrigation scheme P&SB scheme for financing farmers for purchase of land for agricultural purpose P&SB scheme for financing of two wheelers to farmers P&SB scheme for financing of commission agents/aahrtias &SB scheme for financing of harvestor combines . 4. 12 P&SB scheme for financing handicapped loan assistance . 7.

Credit Facilities for Agriculturists : There are number of credit schemes for farmers which are liberally available to our rural and semi urban branches. unit 21 P&SB scheme for private artificial insemination centre . 25. . • Purchase of Harvestor Combine. Bank has introduced a Joint Mortgage deed for the convenience of farmers to facilitate availment of agriculture loans without having to execute the deed every now and then. Besides. • Purchase of Two Wheelers by the farmers. for working capital requirements. 20 P&SB scheme for private veterinary clinic with small dairy . Bajaj Tempo and Escorts whereby borrower gets incentives. The Bank has very attractive Kisan Credit Card Scheme for meeting the credit needs of the farmers with provision of personal accident insurance coverage of KCC holders. for construction of building. The Bank has introduced a unique P&S Bank Diamond Krishi Card (DKC) Scheme to provide more credit and better facilities to A Class farmers. Upfront Guarantee fee under this scheme is borne by the bank for credit facilities up to Rs. For tractor financing Bank has made TIE-UP arrangement with Punjab Tractor. 18 P&SB scheme for agro service centre . There is provision of collateral free credit upto Rs. marginal borrowers and agricultural labourers. 22 P&SB scheme for private veterinary clinic with retail outlet . • Composite loan scheme Kheti Udyog Khazana Yojana.farm machinery and . 2. Eicher Tractor. Small Scale Industries : We extend credit to SSI for meeting financial requirements for purchase of machinery and equipment. primary processing 19 P&SB scheme for agro service centre-farm machinery . 2. 17 P&SB scheme for horticulture clinic and business centre .0 lac. • Purchase of new/old tractors. there are schemes for: • Purchase of agriculture land for small.0 lac to SSI units which are covered under credit guarantee fund trust scheme.. for feed & medicine IMPORTANT LOAN SCHEMES OF THE BANK 1. farm machinery.

For Govt. Car Loan: Under this scheme a borrower can get a loan to buy a car on very attractive terms for personal use. 7.3. Engineers. IVP/KVC. 7. Professional Loan : A loan for professional like Doctors. Bank has formulated a revised education loan policy whereby education loans upto Rs.a. 2.50 lac are granted without collaterals and with third party guarantee only. Chartered Accountants. 9. purchase and renovation/repair of houses/flats./PSU employees. 15. computers.0 lac abroad. local bodies.. Personal Clean Loan Facility : We offer personal clean loan facility to officials of Govt. for personal use or business purpose./PSU employees no processing charges are taken. and no margin is required. Securities like NSCs. Minimum formalities. LUCC/KVIC Scheme : The bank encourages landing under KVIC Scheme and other Govt. etc. The loan amount ranging from Rs. A margin of 25% is to be maintained on the principal investment. 7.0% p. Housing Finance: We have very liberal policy for housing finance to the members of the public. etc. 8. Lawyers. 50000/to Rs. Professional and self employed persons. 1. sponsored schemes. generators. 5. We have introduced LAGHU UDYAMI CREDIT CARD SCHEME (LUCC) for working capital loan upto Rs. to meet their professional needs is given. 10. One can avail loan for purchase of all types of medical equipments. An individual can club his/her income with that of his/her spouse to avail higher loans.0 lac is provided to artisans for their investments needs as well as working capital requirement. 4.0 lac to our existing eligible borrowers under SSI. etc.50 lac for studies in India and upto Rs. Architects./Local bodies with confirmed service of at least 5 years. 10. etc. Loan against own Deposit/Govt. For education loan upto Rs. simple paperwork and effortless procedure are the main attraction of this scheme. Educational Loan : To encourage the youth in attaining expertise in educational and professional fields. machineries. our bank is making available finance upto Rs.. acquiring or renovating business premises.0 lac rate of interest is charged @11. Special Scheme have been floated for Govt. 4. reorganised universities and schools run by Govt. 6. Retail Trade and small business/Self employed persons under priority sector. air conditioners. refrigerators. items to start clinics.0 lac can be availed for purchase of consumer durables or for any consumption/personal use or purchase of vehicle. as also for general public for construction. Securities : We offer loan against bank’s own deposit and Govt. and Public sector undertaking. . ACC Scheme :Under Artisans credit card scheme hassle free credit facility upto Rs.

having minimum three years of experience in his business (Contractorship). etc. Housing./PSUs/Pvt. Golden Jubilee Rural Housing Scheme (GJRHS) : Under this scheme. personal expenditure. Cos. less income tax payable and any other local tax/maintenance charges to be paid by tenants. 1.0 lac to meet special expenditure for festival celebration such as furnishing of house/shop/office. 15. credit upto Rs. 25. No stock statement/No bills required by the bank. 17. The age of pensioners should not exceed 70 years at the time of applying of loan. Festival Loan Scheme : Under festival loan scheme clean loans are granted upto Rs. or any PSU and should be drawing his/her pension through our bank. Clean Loan Scheme for retired personnel/pensioners : Who have retired from Central/State Govt. 12. The loan/limit to the extent of 50% of the property offered as security subject to a maximum of Rs. Udyogini Scheme : Under udyogini scheme credit facilities are granted to women entrepreneurs to avail the loans on liberal terms and exclusive catering of credit under Direct agriculture activities. guarantee of the family pension nominee or major son of a third party acceptable to the bank is to be obtained. 15. SHGs. 14.0 lac can be extended subject to a maximum of 50% of the value of contracts in hand against the mortgage of property valuing at least double the amount of ODP Limit. Professional and self employed. Tiny SSI sector. Club Loan Scheme : Under club loan scheme employees of reputed clubs in metropolitan/urban centres are granted credit facility for purchase of consumer items/for personal use Further loan applications of Education. ODP Scheme for Contractors : Who are registered and are income tax payee.0 lac. Ltd. Amount of credit should not exceed 40% of the market value of the property to be mortgaged. Deptt. consumer goods. Retail traders. The loan upto 10 times the monthly pension subject to maximum of Rs. SSI have been simplified and revised for the benefits of borrowers. 1. 16./MNCs/Embassy or any other organization of repute. However. 18. business enterprises.11.0 lac can be granted for any personal need without collateral. Agriculture. 13. residential property who have rented their premises to Govt. Loan against rent receivables : We offer this scheme to land lords/owners of commercial. borrower residing in . ODP Scheme for traders/retailers : Under this scheme credit is available to traders/retail traders who are in business for at least 5 years. Loan to the extent of 80% of rent receivable during the period of tenancy or 60 months whichever is lower.

5 lac for construction of new house and (ii) Rs. 10 crore may be treated as Medium Enterprises (ME). However. OTHER ADVANCES . where required.rural/semi urban areas can avail loan (i) upto Rs. hand tools.31/ 2005-06 dated August 19. A comprehensive legislation which would enable the paradigm shift from small scale industry to small and medium enterprises is under consideration of Parliament. a debt restructuring mechanism for units in SME sector is implemented by the Bank which are as under: Definition of SMEs SMEs as defined in RPCD Circular No. does not exceed Rs. share/debentures. the means of parent/guardian could also be taken into account to evaluate re-payment capability The loan to be sanctioned as per delegation of powers preferably by the Branch nearest to the place of domicile. Pending enactment of the above legislation. stationery items and sports goods. Govt. 3 lac for repair/upgradation of existing house (iii) Maximum period for repayment is 15 years against mortgage of property or other security such as LIC Policy. The loan to be disbursed in stages as per the requirement/demand directly to the Institutions/Vendors of books/equipments/instruments to the extent possible. APPRAISAL/SANCTION/DISBURSEMENT • • • • In the normal course. where this investment limit has been enhanced to Rs. 31/ 06. No application for educational loan received should be rejected without the concurrence of the next higher authority.PLFNS. a small scale industrial unit is an undertaking in which investment in plant and machinery. drugs and pharmaceuticals.BC. Promissiory Note. except in respect of certain specified items under hosiery. DEBT RESTRUCTURING MECHANISM FOR SMALL AND MEDIUM ENTERPRISES (SMEs) For improving flow of Credit to Small and Medium Enterprises. is reproduced below : At present. Units with investment in plant and machinery in excess of SSI limit and up to Rs. current SSI/ tiny industries definition may continue. RPCD. 2005. gold ornaments or any other security. 5 crore.1 crore.02. while appraising the loan the future income prospects of the student will be looked into.

..• • • • • • • • P&SB LOAN SCHEME FOR TRAINING.f 01/06/2007 .e.50% pa. MATURITY INTEREST RATES 1 Year to less than 2 Years 2 Years to less than 3 years 3 years and upto 5 years 5. LOCKERS . .e.39% p. Saving Bank Deposit .30%p.a.a.e. SKILL UPGRADATION OF CONSTRUCTION WORKERS P&SB SCHEME FOR EATING-JOINTS P&SB SPECIAL SCHEME FOR INSURANCE AGENTS P&SB ARTISAN CREDIT CARD (ACC) SCHEME P&SB UDYOGINI SCHEME P&SB DIAMOND KRISHI CARD P & S Bank Special Scheme For Loan Against Rent Receivables P&SB Scheme for Working Capital requirement for Retail Traders FOREX DEPOSIT RATES NON RESIDENT ORDINARY DEPOSITS .w.f 01/05/2003 3.f 18/11/2005 Non Resident (External) Rupee Savings A/C 3.50% pa. NON RESIDENT (EXTERNAL) RUPEE SAVINGS A/C w.a.32%p. 5. NON RESIDENT EXTERNAL (NRE) DEPOSITS .w. 5.

recovery of all charges and fees due by the co-branded card member in respect of co-branded credit card. commission on usage and fulfillment charges. Two separate set of application forms have been designed. subject to ICICI Bank’s eligibility criteria for issuance of credit card.RBI-EFT has inbuilt security measures . Benefits: . The credit card account will be maintained by ICICI Bank. EFT EFT System has been introduced by RBI at selected centers for faster and economical remittance of funds (inter bank/ intra bank). It facilitates quick movement of money from the bank account of one customer to the bank account of another customer. Amount is credited to his bank account directly SPECIAL TREATMENT FOR SENIOR CITIZENS . one for customers of the bank and second for employees of the bank.There is no upper Limit of amount being transferred . It will also help in increasing the income by way of issuance/renewal fees. The ICICI Bank will provide all operational services for the credit card covering periodical bills. In this system the sender and the receiver of funds may be located in different cities and may even bank with different Bank.Funds are transferred with in 24 hours .Frauds in processing paper instruments are avoided .Beneficiary need not to go to the Bank.The Bank provides Locker facilities to its customers with the following details on types of Lockers available vis-à-vis rent of specified branches : Category of Branches S No Size of Lockers Metro / Urban 1 2 3 4 Small Medium Large Extra Large Existing 600 800 2000 3500 Revised 500 800 2000 3500 Semi-Urban/Rural Existing 400 800 2500 3500 Revised 400 800 2500 3500 Existing 700 1000 3000 5000 Revised 600 1000 3000 5000 Specialized Locker Branches ATM facility All the eligible PSB-Central card holders will be issued “PUNJAB & SIND BANK-ICICI BANK” Credit Card free of issuance fee for the first year of issuance. The salient features of the co-branded “PUNJAB & SIND BANK-ICICI BANK” Credit Card have been incorporated in the application brochure along with essential declaration and eligibility criteria. The “PUNJAB & SIND BANK-ICICI BANK” Co-branded Credit Card will help not only in retaining the existing clientele but also help in tapping new customers. The ICICI bank assumes the responsibility for collection. sending statement. The ICICI Bank assumes all financial liability and debt risk. collection. payments and processing of charges etc.

00% p. All persons of 60 years and above are eligible for the following special treatment at PSB. PPF accounts etc. 2. It provides valuable guidance to you for your day-to-day operations.50% p. . The Code applies to: -current.1.01. The scheme is applicable for fresh deposit or renewal of deposit. (For proof of age . LIC policy. (b)For term deposits of One year & above 1. savings and all other deposit accounts -pension.a. Voter identity card. Rate of Interest a)It has also been decided to give additional benefit to Senior Citizens over and above card rates only on term depo amount as under:For term deposits of less than one year 0. and -request for additional information about you and your family to build a database but such information can be furnished by you only if you wish and we will not compel you to give this information for opening your account. which meet your needs Before you become a customer. we will: -give you clear information explaining the key features of the services and products you tell us you are interested in -give you information on any type of account facility which we offer and may suit your needs -tell you what information we need from you to prove your identity and address and to comply with legal and regulatory requirements.Sch certificate. We will tell you if we offer products and services in more than one way [for example.a. The senior citizen can open Fixed Deposit Account jointly with other person below the age of 60 years but the first be of senior citizen. he will be eligible for additional interest as under being senior citiz to 1% extra rate of interest being ex-staff member: (i) (a)For term deposits of less than one year 0. Passport or Birth Certificate issued by a competent authority be given/s The scheme is not applicable for ex-staff members as they are already getting benefit under staff scheme. operated as agents of RBI/Government -collection and remittance services offered by the banks -loans and overdrafts -foreign-exchange services -card products -third party products offered through our network.00% b)If the ex-staff member is also a senior citizen.07 FAIR PRACTICE CODE FOR CUSTOMER SERVICE INTRODUCTION This is a voluntary Code.50% For term deposits of One year & above 1. INFORMATION Helping you to choose products and services. (ii)The above interest rates shall come into effect with retrospective effect from 01. which sets standards of fair banking practices for member banks of Indian Banks' Association to follow when they are dealing with individual customers.

through ATMs on the internet. reasonable and not misleading. some of which are our own products while some others are the products of our group/associate/entities or companies with whom we have tie-up arrangements. Interest on savings accounts At the time of opening of the account. We will not reveal transaction details of your accounts to a third party. CARDS AND PINs We will only send you a card if you ask for one or to replace a card you already have. We recommend that you avail nomination facility offered on all deposit accounts. we will inform you of the rate at which interest is paid on your savings deposits [presently. We will explain how we apply interest to your account. we will tell you how it works. we will give you information on the interest rates which apply to your accounts. In some cases. When you open a single account or a joint account. we will give you information on your rights and responsibilities. We will also tell you our website address. We will give you your PIN [personal identification number] separately from your card. articles in safe custody and safe deposit vaults. We will guide you how we will deal with deposits and other assets held with us in the name of a deceased person in the absence of nomination. we will need you to give us confirmation or evidence that you have not authorised a transaction. Changes in interest rates When we change the interest rates on our products. we will update the information on our telephone help-line and our website within three working days. When you become a customer. We will seek your specific consent for giving details of your name and address to any third party. ADVERTISING AND MARKETING We will make sure that all advertising and promotional material is clear. and when we will pay interest on your deposits or debit interest on your loan accounts. or -asking our designated staff. If you do not recognise a card transaction that appears on your statement. We would like to provide you with the entire range of financial services products. This should make it easier for you to remember the PIN of your choice. our help-line numbers and the other ways in which you can find out about changes in the interest rates. over the phone. PROTECTION Confidentiality We will treat all your personal information as private and confidential [even when you are no longer a customer]. how it is calculated and its periodicity. We will not reveal your PIN to anyone else. it is regulated by Reserve Bank of India]. direct their staff / agents for marketing their products. We will tell you about our systems to allow you to choose or change your PIN. . we will provide you with more details. for marketing purposes. including other entities in our group. We will however tell you about our associate / group entities or companies having business tie-up arrangements with us and if you so desire. Once you have chosen an account or service. in branches and so on] and tell you how to find out more about them. fair. INTEREST RATES You can find out about our interest rates by: -looking at the notices in our branches -phoning our branches or help-lines -looking on our website.

Feedback and Suggestions Please provide feedback on our services. Banking Ombudsman Service and other avenues for redressal Within 60 days of lodging a complaint with us. The Standing Committee will operate from the office of Indian Banks' Association CUSTOMER RIGHTS As a valued Customer of Punjab & Sind Bank. or an increase in your existing overdraft limit. for marketing purposes -If you ask us to reveal the information. LOANS AND ADVANCES Before we lend you any money or increase your overdraft. reasons for rejection of loans will be conveyed to you. to prevent fraud) but we will not use this as a reason for giving information about you or your accounts [including your name and address] to anyone else. we will assess whether we feel you will be able to repay it. you enjoy the following rights: . other than in the following four exceptional cases when we are allowed to do -If we have to give the information by law -If there is a duty towards the public to reveal the information -If our interests require us to give the information [for example. including other companies in our group. we will tell you how to do this and what to do if you are not happy about the outcome. Within two weeks of receiving your complaint. Standing Committee to Monitor the Code A Standing Committee consisting of a panel of three reputed persons with banking background will monitor "Bankers' Fair Practice Code". the same will be indicated. FURTHER ASSISTANCE Complaints / Grievances and Feedback / Suggestions Internal procedures If you want to make a complaint. After examining the matter. or if we have your permission to provide such information to our group/ associate /entities or companies when we have tie-up arrangements for providing other financial service products. MONITORING We have a 'Nodal Officer' to ensure compliance of the Code. you may approach Banking Ombudsman appointed by Reserve Bank of India under Banking Ombudsman Scheme 2002.including entities in our group. Our staff would explain the procedure in this regard. we will send you our final or other response within eight weeks and will tell you how to take your complaint further if you are still not satisfied. Details of Banking Ombudsman are displayed in the branch notice boards. Our internal auditing procedures make sure we meet the Code. we will tell you if your overdraft is repayable on demand or otherwise. Wherever possible. Our staff will help you with any questions you have. if you do not get a satisfactory response from us and you wish to pursue other avenues for redressal of grievances. If we offer you an overdraft. Your suggestions will help us to improve our services. Wherever we have installed CCTV for close surveillance as part of security arrangements. we will send you a written acknowledgement. credit card limit or other borrowing.

You can obtain the statement of account indicating full details by 5th of every month in case you have not been issued a passbook. The facility is also allowed to the customers at the Bank's Extension counter. no interest will be payable on the amount so credited if the cheque is returned unpaid. If the number of entries to be made is large.O. c) Where the cheque is credited to a Saving Bank Account. ISSUE OF CHEQUE BOOK: You can obtain a new cheque book when your requisition slip appears next in the current cheque book.in case of local cheques. kindly leave the passbook against receipt showing the date when it can be collected back. 4. a) The interest is charged to the customer for the period between date of credit of the outstation cheques lodged and its return. The bank extends the facility to all depositors having proper conduct of the account without making a distinction about their status i. 7. (g) Name and address of the concerned Banking Ombudsman . 2. Saving Bank. 5. In the event of cheque being returned unpaid. Current or Cash credit. 8. the bank can recover interest in conformity with the applicable interest rate directive of Reserve Bank of India for the period the bank is out of funds. (d) Time norms. INTEREST PAYMENT FOR DELAYED COLLECTION : Bank assures its customers of collection of proceeds of outstation cheques within 14 days. (f) Names and addresses of H. UPDATION OF SAVINGS BANK PASS BOOKS / STATEMENT OF ACCOUNTS: To get your passbook updated on presentation legibly with full entries. (c) Rate of interest. officials and Zonal Managers for Redressal of Grievences. 5000/-. COLLECTION OF LOCAL CHEQUES Your account should be credited and you are allowed free use of funds latest on the third working day from the day of acceptance of the cheque/draft at the counter (excluding Bank Holidays). (e) Exchange rates in case of branches dealing in Foreign Exchange. from the date of collection. 6.e. For any delay beyond this period the customer shall be entitled to interest as per applicable on Saving Bank Deposit. SAFE CUSTODY SERVICES : You can avail Safe Custody Services at all branches of the bank for deposit of scrips/sealed covers and Bank's own deposit receipts only. Normal collection charges are levied in case of outstation cheques and a charge of Rs. No interest shall be payable in case credit against outstanding cheques is credited within the period of 14 days. 5/. (b) Credit Schemes. 3. IMMEDIATE CREDIT OF LOCAL/OUTSTATION CHEQUES: Customers can avail facility of the instant credit of outstation cheques up to Rs. b) Interest is charged from the date of return of the cheque till the reimbursement of money to the bank. STANDING INSTRUCTIONS: You can give standing instructions to transfer specified amounts from your deposit/loan accounts periodically provided you keep a sufficient balance in the account.1. DISPLAY OF IMPORTANT INFORMATION AT THE BRANCHES : Branches should display at a conspicuous place : (a) Deposit Schemes.

This can be availed of in existing as well as new accounts. Bank will pay interest at the rate of 2 percent over the Savings Bank rate for the period of delay. 16. . ACCEPTANCE OF SMALL DENOMINATION MULTILATED NOTES : Small denomination / mutilated notes are freely accepted and exchanged from all the customers without any limit and reservation (at designated branches). then you are paid interest for the intervening holiday/non-business working day.000/-. 5. 10. WITHDRAWAL FROM SAVINGS BANK ACCOUNTS THROUGH WITHDRAWAL SLIP : You can personally withdrawal upto Rs. and (b) Term deposits upto an amount of Rs. to avoid conjecture of non-compliance. bill. VALUE-DATING OF MAIL / TELEGRAPHIC TRANSFER : Credit is given for Mail Transfer within seven days (ten days in the case of North-Eastern States) from the date of deposit of funds. NOMINATION FACILITY : Nomination facility is available not only in individual deposit accounts but also in case of safe custody of articles and Safe Deposit Locker Accounts. Banking Ombudsman Service a. PHOTOGRAPH OF DEPOSITOR : Photographs are not insisted upon at the time of opening of account in following cases : (a) New Savings Bank Account where cheque book facility is not asked for. for collection should give a receipt on the counterfoil of pay-in slip to the lodger. 14.9. 15. 100/-. 12.from your Savings Bank account by withdrawal slip. 17. We will display on our website and in all our branches a notice explaining that we are covered by the Banking Ombudsman Scheme. 13. 2006 of the Reserve Bank of India.000/. 11. Passbook should invariably accompany the withdrawal slip. PAYMENT OF INTEREST ON DEPOSIT MATURING ON A HOLIDAY : When due date of a tern deposit happens to be a holiday or a non-business working day. 10. Telegraphic Transfers issued from and payable at State Capitals and Centres having population above 12 lakhs will be value-dated from third day. RECEIPT OF INSTRUMENTS : The staff receiving any instrument like cheque. Nomination should be a rule unless you prefer not to nominate and it is recorded. In case of delays. Nomination can be made in respect of sole proprietary firms besides individual accounts. Copy will be made available on request at a nominal charge . ISSUE OF IDENTITY CARDS TO CUSTOMERS HAVING CURRENT/ CASH CREDIT ACCOUNTS : Identity Cards valid for one year are issued to those having Current / Cash Credit Accounts as well as to their authorized representatives at a fee of Rs. etc. WITHDRAWALS IN SAVINGS BANK ACCOUNT : You can make upto 50 withdrawal each half year in your Saving Bank Account without paying any service charges.

Neither the police nor we will ever contact you to ask you to reveal your online banking or payment card PINs. We will advise you of our targeted turn around time while you are availing / applying for a product / service. billing and payment. virus attacks or malicious 'Trojan Horse' programmes. 2. Internet Banking Online banking is safe and convenient as long as you take a number of simple precautions. Avoid accessing the site through a link from another site or an email and verify the domain name displayed to avoid spoof websites. or your password information. If you do not recognize a transaction. if you do not get a satisfactory response from us and you wish to pursue other avenues for redressal of grievances. in question. 2006. Within 30 days of lodging a complaint with us. Ignore any e-mail asking for your password or PIN and inform us of the same for us to investigate the same. 4. In cases. and any other information that you may require to operate the card. we will give you more details if you ask us. Disable the 'File and Printing Sharing' feature on your operating system.b. we will explain the relevant terms and conditions such as fees and interest charges. which appears on your card statement. 6. Log off your PC when not in use 7. where we do not accept your contention we will give you evidence that you had authorized the transaction. 2. We advise you not to use cyber cafés /shared PCs to access our Internet banking site. losses on your account that you may be liable if your card is lost / misused and other relevant information with respect to usage of your card along with your first card. Check your account and transaction history regularly 9.our websites are usually a good place to get help and guidance on how to stay safe online. Visit our Internet banking site directly. We will send a service guide/member booklet giving detailed terms and conditions. you may approach Banking Ombudsman appointed by Reserve Bank of India under Banking Ombudsman Scheme. SIGNIFICANT ACCOUNTING POLICIES 1. While you apply for card. Follow our advice . You may install security programmes to protect against hackers. General The financial statements are prepared on historical cost basis by following going . Please make sure you follow the advice given below: 1. Salient features of the Banking Ombudsman Scheme are displayed in the branch notice boards and the scheme itself is displayed on our website. We advise you to update your PC with latest anti-virus and spy ware software regularly. A suitable firewall installed in a computer to protect your PC and its contents from outsiders on the Internet is recommended. Do not store your ID/PIN in the Internet Explorer Browser 8. method of computation of overdues renewal and termination procedures. 5. 3. Our staff would explain the procedure in this regard. Credit card 1.

if any. 3. other than temporary in nature. valuation and applicable provisions in respect of investments are made in accordance with the prudential norms prescribed by Reserve Bank of India read with clarifications / directions given by RBI.. iii. 3. Others. on such shifting is fully provided for and the book value of the securities is changed accordingly. if any. Profit or loss on such contracts is accounted for as per FEDAI guidelines. in which case the premium is amortized over the remaining period of maturity. net depreciation under each category is provided for and an equivalent amount (net of tax benefit. Shares. Shifting of securities from one category to another is done with the approval of the Board normally once in a year.7 The 'market value' for the purpose of valuation of investments included in the 'Available for Sale' and 'Held for Trading' categories is the market price of the scrip as .5 Securities under 'Held for Trading' are valued at market price and the net depreciation under each category is provided for and the net appreciation. 2. Other approved securities. 3. Subsidiaries / Joint Ventures and vi. While net appreciation is ignored.2 The entire investment portfolio is classified into three categories. viz. 3. is provided for each investment individually. The resultant gain / loss is accounted for in the Profit & Loss account.4 Acceptances. Available for Sale and Held for Trading in line with the guidelines / directions of Reserve Bank of India. 3.3 Securities under 'Held to Maturity' are stated at acquisition cost unless such cost are higher than the face value. if any. In case of excess provision for depreciation.concern concept and conform to the statutory provisions and practices prevailing in India.4 Securities under ’Available for sale’ are valued scrip wise and depreciation/ appreciation is segregated category wise. the difference being the unrealized gain is ignored. Debentures and Bonds. is ignored. iv. and net of consequent reduction in transfer to Statutory Reserve) is transferred to Profit & Loss Account from the Investment Fluctuation Reserve. the excess amount is credited to profit and loss account and an equivalent amount (net of taxes. Shifting is effected at the lower of acquisition cost / book value / market value on the date of transfer and the depreciation. unless otherwise stated. Held to Maturity. 2. if any. 3. ii. Disclosure of the investments under the three categories mentioned above are made under six classifications viz.1 Classification. Such amortization is shown under “Other Income” – Schedule 14 as a deduction from ‘Profit on Revaluation of Investments’ item III.6 Cost of investment is based on the weighted average cost method category wise. i. 3. Any diminution in value of investments in subsidiaries and joint venture. In case the cost is less than the redemption value. Government Securities. endorsements and other obligations including guarantees in foreign currencies are valued as per the rates published by FEDAI as on the date of closing. and net of transfer to Statutory Reserve as applicable to such excess provisions) is appropriated to the Investment Fluctuation Reserve. Investments 3.3 Items of Income and expenditure relating to foreign exchange transactions are recorded at exchange rates prevailing on the date of the transactions.2 The outstanding foreign exchange contracts are stated at the prevailing exchange rate on the date of commitment. v. 2.Foreign Exchange Transactions All the Monetary assets and liabilities in foreign currencies are translated in Indian rupees at the exchange rates prevailing at the Balance Sheet date as notified by Foreign Exchange Dealers Association of India (FEDAI). 2.

9 Profit/loss on sale of investments is taken to profit and loss account.2 No depreciation is provided in assets sold/disposed of during the year. 6. 6.2 Advances are stated net of de-recognized interest and provisions/ Technical write off made in respect of non-performing advances. . if any. Debentures and PSU Bonds: On yield to maturity (YTM) basis at the rate prescribed by FIMMDA/ PDAI with such mark ups as laid down by RBI or FIMMDA/PDAI. 5. State Government Loans. In cases where latest Balance Sheets are not available. b. additions effected before 30th September are depreciated for full year and additions effected thereafter are depreciated for half year. Government of India Securities: At rates put out by FIMMDA/PDAI.3 Amount equivalent to depreciation attributable to revalued portion of the assets is transferred from Revaluation Reserve Account to the Profit & Loss Account.8 In determining acquisition cost of investments: a. additions are depreciated for the full year irrespective of the date of addition as per RBI guidelines. prices declared by Primary Dealers association of India (PDAI) jointly with the Fixed Income Money Market and Derivatives Association of India (FIMMDA). 3.1 Advances are classified into "Performing" and "Non-performing" assets and provisions are made as per the prudential norms prescribed by the Reserve Bank of India and direction of RBI from time to time.1 Computers at 33. 6. which are not older than one year on the date of valuation. Broken period interest received on sale of securities is recognized as Interest Income. on straight-line method. where segregation is not possible between land and superstructure. 5 Fixed Assets 5. Other approved Securities.33%. preference shares. the procedure adopted is as below: a.1 Premises (except those revalued) and other Fixed Assets are stated at historical cost. 6 Depreciation on Fixed Assets 6.1 per company. Broken period interest. b. In respect of unquoted investments. Claims received from DICGC/ ECGC are not reduced from such advances till adjusted/ technically written-off whereas part recovery in all NPA Accounts is reduced from advances. 4 Advances 4. are considered in the value of superstructure. Brokerage / commission/ stamp duty paid in connection with acquisition of securities are treated as revenue expenditure. the shares are valued at Re. However. an equivalent amount of profit is appropriated to Capital Reserve. in case of profit on sale of investments in 'Held to Maturity' category. 4.3 Composite cost of premises wherever it is not possible to segregate the cost of land from the cost of the superstructure.1. 3.2 Premises taken on perpetual lease are considered as freehold premises and are not amortized. Appreciation in respect of premises on revaluation.2 Other Fixed assets on written down value method at the rates prescribed by the Income Tax Act 1961. Mutual Fund Units: At re-purchase price or Net Assets Value. c.available from the trades/quotes on the stock exchanges.3 Provision on standard advances are made and are included under ‘Other Liabilities and Provisions’ as per RBI guidelines. Incentive received on subscription is deducted from the cost of securities. Equity Shares: At break-up value based on the latest Balance Sheet.1. 6. c.1. d. price list of RBI. 4.1 Depreciation is provided for on 6. paid on acquisition of investment is debited to profit & loss account.

08.1 Income and expenditure are accounted for on accrual basis unless otherwise stated. Offer nomination facility to all deposit accounts (i. 7. 2.7 Liability in respect of incremental lease rent on renewal of lease agreement is accounted for at the time of renewal of the lease. 3.1 Annual contribution to Gratuity Fund. 7. commission on credit card. 7. 4. Display of business hours.4 Income on guarantees and letters of credit issued. is recognized keeping in view the consideration of prudence in respect of Deferred Tax Assets.7 Revenue Recognition 7. Your rights as a customer of our bank COMMON PRACTICES FOLLOWED BY OUR BRANCHES FOR YOUR CONVENIENCE 1. Pension Fund and Leave encashment Fund are provided for on the basis of actuarial valuation. account opened in individual capacity) .002/2005-06 dated 23.No. Taxes on Income 9.e. 7. dividend on shares. Attend to all customers present in the banking hall at the close of business hours and rendering of courteous service.3 Partial recovery in non-performing assets is appropriated first towards principal and thereafter towards interest.1 Current Income Tax and Fringe Benefits Tax is measured at the amount expected to be paid considering the applicable tax rates and favorable judicial pronouncement/ legal opinions.2 Additional pension liability arising on account of change in actuarial valuation from Current Unit Credit Method to Projected Unit Credit Method is spread over a period of 10 years starting from 2004-05 as approved by Reserve Bank Of India vide its letter no. Interest on Refund of Income Tax.BP.01.2005. income from Merchant Banking transactions. Government business including distribution of pension and income from units of Mutual Fund product are accounted for on receipt basis. 7.5 Rebate on compromised accounts is accounted for at the time of full and final adjustment of the account.DBOD. Provide separate ‘Enquiry’ or ‘May I Help You’ at large Branches. money transfer service.2 In accordance with AS-22 Deferred Tax comprising of tax effect of timing differences between taxable and accounting income for the period.6 Interest on overdue Term Deposits is accounted for as and when the deposits are renewed. 7. 8 Staff Retirement Benefits 8. 8. Locker rent.2 Income on non-performing assets is recognized on realization basis in accordance with the prudential norms prescribed by Reserve Bank of India.271/21.8 Bond Issue Expenses incurred in connection with raising Tier-II Capital are treated as Deferred Revenue Expenditure to be written off over a period of five years. 9. 7. 9.

Collection of Documents. as advised by RBI from time to time. 8. Display of Service Charges on issue of Demand Drafts. We have extended business hours in our fully computerised branches in Delhi. Notify change in interest rates on advances. Display Time – Norms for various Banking Transactions. 11. The amount can be deposited / withdrawn from these accounts by way of cheques / withdrawal slips. 5. Pay interest for delayed credit of outstation cheques. 6. Provide complaint/suggestion box in the Branch premises. Accord immediate credit in respect of outstation and local cheques upto a specified limit subject to certain conditions. The withdrawals are restricted to 50 entries each half-year in the S. . Duplicate Drafts. 15. Pay Orders. etc. 12. 10. Name and address of the concerned banking ombudsman. 9. 16. Cancellation of Drafts. as well as Nodal Officer dealing with customer grievances/complaints.and all safe deposit hirers (i.B. Account. Display of Tax Collection facility at the Branch. as advised by Reserve Bank of India (RBI) from time to time. 14. ii) Saving Bank accounts are very popular.e. 13. Display address of Zonal & Head Offices. These accounts can be opened by eligible person(s) and certain organization(s) / agencies as approved by the Reserve Bank of India (RBI). 17. individual hirers). Display interest rates for various deposit schemes from time to time. 7. Display of availability of Locker facility at the Branch. Corruption free service to all customers. COMMON AREA OF CUSTOMER BANKER RELATIONSHIP: DEALING IN DIFFERENT ACCOUNTS TYPE PROVIDED BY BANK LIKE: (a) SAVING BANK ACCOUNT: i) These accounts are designed to help the individuals (personal customers) to inculcate habit of saving money and to meet their future requirement of money.

iv) We are required to obtain two recent photographs of the person(s) opening the account. iii) As required by law. 60 or 61 as per the Income Tax Act (vide Section 139 A) from the (d) CAPITAL GAIN SCHEME . of a person(s) seeking to open an account to assist in protecting the right of customer(s) and ourselves against fraud and other misuses of the banking system.I. v) We also require to obtain Permanent Account Number (PAN) or alternatively obtain declaration in Form No. while opening this account.B.T. iii) We also require a satisfactory introduction of the person(s) opening the account by a person acceptable to the Bank and will require to obtain two recent photographs of the person(s) opening/operating the account. etc. etc. private and public limited companies. ii) As required by law. HUFs/specified associates.THE TAX SAVER SCHEME Exemption of Capital Gain Tax under Section 54B. We welcome you to seek more details and shall also be glad to assist in the area of investment in various deposit schemes vis-a-vis your requirement. 54F and 54G of I. iv) You are required to give Permanent Account Number (PAN) or alternatively obtain declaration in Form No. as per RBI directives. directives. iv) We require a satisfactory introduction of the person(s) opening the account by a person acceptable to the Bank and will obtain two recent photographs of the person(s) opening the account. including verification of address.B. of a person(s) seeking to open an account and to assist in protecting our prospective customer(s) and ourselves against fraud and other misuses of the banking system. to assist in protecting the prospective customer(s). while opening this account. including partners of Registered/Unregistered partnership as also Registered / Incorporated bodies / companies). etc. while opening this account. 54D. as per R. which are prominently displayed at our branches for your convenience. we satisfy ourselves about the identity. private and public limited companies. Act. (b) CURRENT ACCOUNT i) Current Accounts can be opened by individuals. partnership firms. we satisfy ourselves about the identity. Documents normally accepted are the current. of a person(s) seeking to open an account. trusts.e. (c) TERM DEPOSIT ACCOUNTS : i) We have tailored various deposit schemes to suit the needs and expectations for investing in every walk of life. directives. ii) Term Deposit accounts can be opened by individuals. partnership firms.I. including verification of address.iii) As required by law. we satisfy ourselves about the identity. 1961 is available . v) We provide to our prospective customers details of the documents/required for identification of the person(s) opening the account in addition to a satisfactory introduction. including verification of address. 60 or 61 as per the Income Tax Act (vide Section 139A) from the person(s) opening the account (i. members of the public and ourselves against fraud and other misuses of the banking system. gas/telephone/electricity bill/ration card/voter’s identity card/driving licence/passport. HUFs/specified associates. as per R.

In case of  overdue rent. securities. we do not insist on succession certificate from legal heirs in accounts having survivorship / nominee irrespective of amount involved. However.  We reserve our right to break open the locker if the rent is not paid inspite of giving notices  as per the Bank rules and recover charges thereof. limited companies. not for accounts opened in representative capacity. can be kept in safe custody with the Bank on prescribed charges wherever such facility is offered.e. any other Branch of the bank or any other Bank or any other third party. nomination in favour of  more than one person (i. Large/small boxes must be locked by the customer(s) and particulars must be written/painted thereon. Nomination can be done in favour of one person only. Nomination facility is available to individual hirer of Safe Deposit locker. The major aspects governing the services are : A locker may be hired by an individual (not minor) firms. The lock should be covered by stout and sealed with the customer’s seal. SAFE DEPOSIT LOCKERS The facility of Safe Deposit Lockers is an ancillary service offered by our Bank. articles in safe custody and safe  deposit vaults.. NOMINATION Nomination facility is available for all deposit accounts. Lockers are available in different sizes. upto 2 persons) is permissible in jointly operated locker accounts with .e.e. Nomination is available for accounts opened in individual capacity (i.on amount deposited under Account ‘A’ (Saving Deposit) and/or Account ‘B’ (Term Deposit) with option to keep deposit on cummulative or non-cummulative basis at Branches. The Branches offering this facility will indicate/display this information at a prominent place. specified  associations and societies etc. Relationship of Banker and customer shall be that of Bailer & Bailee. PAYMENT OF BALANCE IN ACCOUNTS OF THE DECEASED CUSTOMERS TO SURVIVORS / CLAIMANTS: As directed by the RBI.  We will issue locker only to properly introduced persons. the rent may be paid from the deposit account of the hirer.  Loss of key should be immediately informed to the Branch and customer will be charged  for break-opening of the Locker. With standing instruction. ARTICLES IN SAFE CUSTODY Articles like shares.  Lockers are rented out for a minimum period of one year as per bank’s policy. the Bank will charge penalty as decided from time to time. except blind persons. etc. single/joint  accounts as well as accounts of a sole proprietary concern) only i. STANDING INSTRUCTIONS Standing instructions can be given to the Bank for transfer/remittance of funds from one account to other account(s) maintained in the same Branch.

TIME FRAME FOR ISSUE OF DUPLICATE DRAFT As directed by the RBI. ISSUE OF DUPLICATE DEMAND DRAFT WITHOUT RECEIPT OF NONPAYMENT ADVICE As directed by the RBI.on the basis of adequate indemnity and without obtaining Non-Payment Advice from the drawee Branch. incidental charges. witness is required and all account holders should sign the request. Chennai. Kolkata. CASH ORDER (i. Patna. we will issue duplicate demand draft upto Rs. Pensioners are requested to produce the life certificate once in a year (i. withdrawal of pension by withdrawal form to the pensioner’s dependent are available.common consent.000/.000/. Validity period of cash order is 3 months. Kanpur. Ahemadabad. Issue/payment of cash order for Rs. The customers can utilize the facility of Electronic Funds Transfer (EFT) System operated  through RBI for transferring funds to and from Delhi. The pension for the month of March will be credited on or after 1st working day of April. Hyderabad. telegraphic and pay orders for Rs. Nomination can be made in favour of a minor also. Bangalore and Tiruvanantapuram.e. Similarly such payments for Rs. BANKER’S CHEQUE) Cash Order is issued for making payment locally. Guwahati. Nomination can be made.and above will be issued by the  Banks only by deposit to the Customer’s account or against cheques or other instruments tendered by the purchaser and not against cash payment. 2 crores per remittance.000/. in the month of  November) to enable the Branches to pay pension without interruption/delay. we will issue duplicate demand draft to the customer within a fortnight from the receipt of request. by paying specified charges as per the Bank’s rules. Nagpur. Mumbai. we will pay interest at the rate applicable for fixed deposit of corresponding maturity in order to compensate the customer for such delay. This can be revalidated by the issuing Branch on written request of the purchaser at nominal service charges. Every pensioner is required to submit life/marriage/remarriage/unemployment certificates periodically. 5000/. 50. cancelled or varied by the account holder anytime during his/her  lifetime. .e. The pension will be credited by the Branch to the Pensioner’s savings or current account  during the last four working days of the month. Bhuvneshwar.and above will be made through banking channels and not in cash. 50. The pension will not be paid in cash or through a joint account. For delay in issuing duplicate draft beyond the above stipulated period. EXEMPTIONS: Exemptions of minimum balance. cancellation or variation.  PENSION PAYMENTS Pensioners of Central and State Governments can open a separate pension account in any  of our Branches. PAY ORDER. Upto Rs. Jaipur. While making nomination. Chandigarh.and above is to be made only through the Bank account. 50. Demand Drafts. REMITTANCE SERVICE Customers may remit funds from one centre to another centre by Demand Draft or  Telegraphic Transfer (TT) etc.

However. Some of the special features of this card are as under. which comes with host of features and benefits. CREDIT CARD / ATM CARD FACILITIES Punjab & Sind Bank credit card is a Master Card.COLLECTION SERVICE Immediate credit of local as well as outstation cheques upto Rs. The charges are reviewed/revised from time to time. All cheques drawn on other centres are cleared in 14 days. All cheques (local and outstation) deposited by the customers are cleared by the Bank as follows: LOCAL CLEARING : Cheques are cleared normally on the third working day. the customer will have to pay interest for the period for which funds utilised. NATIONAL CLEARING : Cheques drawn on metropolitan centres listed in National Clearing are cleared in 8 days. 5000/. satisfactory accounts. telephone bills on behalf of Govt. depending on the centre subject to depositing of the cheques/instruments in time. of India Public undertaking through selected designated Branches. We are collecting Direct Taxes presently through 209 authorized branches with group wise connectivity. INTEREST ON DEPOSITS For your convenience. EXCHANGE OF SOILED/SLIGHTLY MUTILATED CURRENCY NOTES We freely exchange soiled/slightly mutilated currency notes and certain other types of mutilated currency notes of all denominations. which will be displayed at the Branch. DUES The Bank handles collection of various taxes. SERVICE CHARGES We provide various services to customers. electricity. • Maximum Interest Free Credit period: • Revolving Credit Facility: • Free Insurance benefits: • Powerful Rewards Programme: . the prevailing rates on deposits are displayed prominently at each branch. as well as the postal charges. We will credit the proceeds of an outstation cheque within the following time norms: State Capital other than North Eastern States & Sikkim : 10 working days Other Centres : 14 working days COLLECTION OF GOVT.(as per RBI guidelines from time to time) is provided to the individuals (personal customers) who are maintaining. the customers will have to bear usual service charges. In the event of cheques being returned unpaid. for which service charges are levied. which are subject to revision from time to time.

We have various exclusive deposit schemes for Non-Resident Indians living abroad as well as returning back to India after their venture abroad. OUR SPECIALISED BRANCHES Name and addresses of all our specialized branches are given in Schedule-VII at the last. Ltd. we have a Global Banking Centre at Connaught Place. New Delhi to provide services to Non-Resident Indians with regard to deposit account.• Purchase Protection • Global Acceptance • Balance Transfer: • ATM facility: • Comprehensive Travel Benefits: • 24 Hour Customer Care Centre: • House hold Insurance at nominal premium: The “Punjab & Sind Bank Credit Card” comes in two variants: Silver and Gold card. (ii) Life Products: Our bank has tie up arrangement of Life Insurance business with M/s Aviva Life Insurance Company India Pvt. CREDIT FACILITIES TO AGRICULTURISTS Zamindara Credit Card. MARKETING & INSURANCE PRODUCTS (i) Non Life Products: We are agent of M/s Bajaj Allianz General Insurance Company and sell all their non-life products through our network of branches across the country. (Non-Resident External Account) (ii) FCNR (Foreign Currency Non-Resident) (iii) RFC (Resident Foreign Currency) Accounts. These schemes are:(i) NRE. . Financial Assistance against old Tractors & Other consumer facilities for Agriculturists are available at our Rural/Semi Urban Branches. We are offering their following three products: (a) Life Bonds (b) Easy Life Plus (c) Pension Plus The Customers may consult our branches for more details. KVIC. CHECK LIST REQUIREMENTS FOR AVAILING DIFFERENT CREDIT FACILITIES The requirements for availing different credit facilities from the Bank are given in ScheduleV at the last. available for various durations from 6 months to 3 years as per RBI guidelines from time to time. NRI ACCOUNT & FOREIGN EXCHANGE FACILITIES Our Bank has nine specialized International banking Divisions (IBDs) and 26 other Authorised Branches to handle Foreign Exchange Business. FCNR account can be opened in US Dollar. Besides this. The account is maintained in foreign currency and the risk of exchange rate fluctuation is borne by the bank. GB Pound and Euro.

Issue of drafts. Genset. mail/telegraphic transfers of these institutions is done at par. welfare. Refrigerator. WELFARE. HOUSING LOANS To build your dream house. Invertors. Computer. you may increase your purchasing power by availing consumer credit facilities at all our Branches to purchase Television. VCP. pay orders. PAYMENT OF INTEREST ON DEPOSIT MATURING ON A HOLIDAY When due date of a term deposit happens to be a holiday or a non-business working day. etc. then you are paid interest for the intervening holiday/non-business working day. Bank will pay interest at the rate applicable on Saving Bank Deposit for the period of delay. An individual can club his/her income with that of his/her spouse to avail higher amount of loan. The details of important loan scheme of our bank are given in Schedule-IV at the last. However. institutions exempted from payment of Income Tax are only . Microwave Oven. Stereo. Air-Conditioner. CHARITABLE INSTITUTIONS Collection of instruments favouring religious. The list of our Housing Finance branches is given in Schedule-VI at the back. DVD. at very low margin of 10% only. The group of employees working in an Institution/Organization in private/Public Sector undertaking can also avail loan on very attractive terms. SERVICE. VCR. service and charitable institutions is done at par. please avail Housing Loan at attractive rates from our Branches/Housing Finance Branches in selected cities. CONCESSIONS TO RELIGIOUS.IMPORTANT LOAN SCHEMES OF THE BANK We have the attractive loan schemes suitable to different segment of customers. postage is recovered. Cooking Range.. Telegraphic Transfers issued from and payable at State Capitals and Centres having population above 12 lakhs will be value-dated from third day. In case of delays. CONSUMER CREDIT We assist our customers to uplift the standard of their living. VALUE-DATING OF MAIL/TELEGRAPHIC TRANSFER Credit is given for Mail Transfer within seven days (ten days in the case of North-Eastern States) from the date of deposit of funds. 100/-. Washing Machine. Dish Washer. VCD. ISSUE OF IDENTITY CARDS TO CUSTOMERS HAVING CURRENT/CASH CREDIT ACCOUNTS Identity Cards valid for one year are issued to those having Current/Cash Credit Accounts as well as to their authorised representatives at a fee of Rs.

These institutions to be eligible for concessions should be exempted from levy of Income Tax. ADOPTION OF MODEL POLICY ON BANK DEPOSITS The Bank has prepared and circulated a Model Policy on Bank Deposits which is a policy document on deposit. mail/telegraphic transfers are allowed. SENIOR CITIZENS Additional Interest and Incentives are available for Senior Citizens. TRANSFER OF ACCOUNTS IN THE BANK If deposit account is transferred within the bank from one Branch to another and there is continuity in the account.. DISABLED INDIVIDUALS AND INSTITUTIONS SET UP FOR THEIR BENEFIT Institutions set up for the benefit of blind. pay orders. pay orders. They can also avail free facility of collection / remittance of funds upto certain limit. physically handicapped and disabled individuals are allowed. payments made by these institutions to their own beneficiaries by way of drafts. Postage expenses are however recovered separately. mail-telegraphic transfers in their account is done at par but postage is recovered. Service charges are subject to change without notice. collection of up-country instruments at par. The Bank has special schemes for the Senior Citizens. banking services such as issue of drafts. postage cost is recoverable. 2/. The document recognizes the rights of depositors and aim at dissemination with regard to various aspects of acceptance of deposits from members of the public.50% as applicable on different maturity.eligible. CONCESSION TO BLIND. Collection of outstation cheques/drafts. outlining the guiding principles in respect of formulation of various deposit products offered by the bank and terms and conditions governing the conduct of the account. as well as issue of drafts. pay-orders. FREE CHEQUE BOOKS For Saving Bank Accounts of individuals’ one chequebook of 20 leaves free of charge in a calendar year shall be supplied. As of now. Similarly. etc. However. the Bank is offering extra rate of interest of 0. free of charge. conduct and operations of various deposit . then interest is payable for the transit period as well. mail/telegraphic transfers are rendered to the debit of the personal account only and not against Cash. The individual accounts of the above categories of persons are identified by the Branch Managers at the time of opening the accounts. latest details are available with the branches of the Bank. PHYSICALLY HANDICAPPED.per leaf shall be levied for cheque books supplied over and above the aforesaid limit. A service charge @ Rs. CONCESSIONS TO DEFENCE PERSONNEL Concessions are extended to Defence Personnels in active service only.

• Interest payments. • Treatment of dormant accounts. • Premature withdrawal/Renewal of Terms Deposit. MARCH. The ultimate objective is to provides Customers the services they are rightfully entitled to receive without demand. • Operation of Joint Account/Minor’s Account/Accounts of illiterate and Blind persons..accounts. • Advances against deposits. Our Model Policy of Deposit contains the detail guidelines on the following: • Documents required to be submitted at the time of opening account – due diligence required and Know Your Customer guidelines. • Bank’s service charges for operation of account and for minimum balance. closure of deposit accounts. • Insurance cover for depositors. • Stop payment facility. for the benefits of customers. 2007 CAPITAL & LIABILITIES SCHEDULE AS ON (000'S OMITTED) ASON . It is expected that this document will impact greater transparency in dealing with the individual customers and create awareness among customers of their rights. • Secrecy of customer’s account. method of disposal of deposits of deceased depositors etc. • Renewal of overdue Term deposits. PUNJAB SIND BANK BALANCE SHEET AS ON 31st. • Nomination facility. • Settlement of dues in deceased deposit account and interest payment in such account. • Safe deposit Lockers.

07 31.219630333 --------------169 7 6 7 8 9 10 11 10743994 15732519 66930827 117375121 2530050 6317822 --------------219630333 --------------6 9 12 20874896 4590821 17 18 Schedule 1 to 18 form an integral part of the accounts .03.---------TOTAL 190430379 ---------.06 Capital 430560 Reserves & Surplus 4 7 9 1 310 Deposits 245806 Borrowings 1947 Other liabilities & Provisions 8 960756 -------------------TOTAL 190430379 ---------.31.---------Contingent Liabilities 26653509 Bills for Collection 5412000 Significant Accounting Policies Notes on Accounts 1 2 3 4 5 7430560 6626271 193187560 2050756 10335186 -------------.03.---------ASSETS Cash & balances with Reserve Bank Of India 8 3 36716 Balances with banks & money at call and short notice 1 3 1 3 3 936 Investments 9555984 Advances 1074702 Fixed Assets 2842223 Other Assets 5486818 ---------.

Card A general term for any plastic card. . partnerships. In this Code. but not including the accounts of sole traders/ proprietorships . which allows you to pay for goods and services or to withdraw cash Cheque Collection Policy Cheque Collection Policy refers to the policy followed by a bank in respect of the various local cheques and outstation instruments deposited with the bank for credit to an account . The policy interalia deals with • • • • • cheque purchase requests time frame for credit of cheques payment of interest in case of delay in collection of cheques instant credit of local and outstation cheques cheques instruments lost in transit and charges for such collection Customer A person who has an account [including a joint account with another person or an account held as an executor or trustee or as a Karta of an HUF. ATM An automated teller machine [ATM] is a machine in which a customer can use their card along with PIN to get cash. They are not precise legal or technical definitions. or ATM cards. clubs and societies] or who avails of other products/ services from a bank. which a customer may use to pay for goods and services or to withdraw cash. credit. Banking Ombudsman An independent dispute resolution authority set up by the Reserve Bank to deal with disputes that individuals and small business have with their banks. it includes debit. companies. information and other services.Annex: Glossary These definitions explain the meaning of words and terms used in the Code. Credit Card A Credit Card is a plastic card with a credit facility.

"Notice Deposit" means term deposit for specific period but withdrawable on giving at least one complete banking day's notice. Nomination facility The nomination facility enables the bank to : make payment to the nominee of a deceased depositor. of the amount standing to the credit of the depositor. the contents of a safety locker. "Term deposit" means a deposit received by the Bank for a fixed period withdrawable only after the expiry of the fixed period and includes deposits such as Recurring / Double Benefit Deposits / Short Deposits / Fixed Deposits /Monthly Income Certificate /Quarterly Income Certificate etc. release to the nominee of the hirer. return to the nominee. Guarantee A promise given by a person Government Bond Government bond means a security. by the Government for the purpose of raising a public loan. Deceased Account A Deceased account is a deposit account in which case either the single account holder has deceased or in case of joint accounts one or more of joint account holders has/have deceased Demat Account A Demat account refers to dematerialized account and is an account in which the stocks of investors are held in electronic form. Deposit Accounts: • • • "Savings deposits" means a form of demand deposit which is subject to restrictions as to the number of withdrawals as also the amounts of withdrawals permitted by the Bank during any specified period. created and issued. the articles left by a deceased person in the bank's safe custody. .Current Account A form of demand deposit wherefrom withdrawals are allowed any number of times depending upon the balance in the account or up to a particular agreed amount. Mail A letter in a physical or electronic form. Dormant / Inoperative Account A dormant/inoperative account is a savings bank or current account which is not operated upon for a period specified by the bank. Equity Equity means a part of capital of a corporate entity which is represented by the shares of the company whether in physical or in dematerialised form Electronic Clearing System The Electronic Clearing System (ECS) is an online transmission system which permits the electronic transmission of payment information by the banks / branches to the Automated Clearing House (ACH) via a communication network. in the event of the death of the hirer.

Senior Citizen Senior Citizen is a person of over sixty years of age.Originator An organization. Government of India. It is permanent and will not change with change of address of the assessee or change of Assessing Officer. It is also used for identification. Tariff Schedule The charges levied by a bank on the products and services offered by it to its customers Unpaid Cheque This is a cheque. which is returned 'unpaid' [bounced] by the bank. Security Represents assets used as support for a loan or other liability. . which the customer has chosen. Other security information A selection of personal facts and information [in an order which the customer knows]. which may be used for identification when using accounts. which has not been paid because the date written on the cheque is of a date exceeding six months from the time of its presentation. which collects payments from a customer's account in line with customer's instructions. to allow them to use a phone or Internet banking service. Payment and Settlement Systems Payments and Settlement Systems mean financial system creating the means for transferring money between suppliers and user of funds usually by exchanging debits or credits among financial institutions. Password A word or numbers or a combination or an access Code. withdraw cash and use other electronic services offered by the bank. Out-of-date [stale] cheque A cheque. PIN [personal identification number] A confidential number. PAN Number The Permanent Account Number is an all India unique Number having ten alphanumeric Characters allotted by the Income Tax Department. It is issued in the form of a laminated card. use of which along with a card allows customers to pay for articles/ services.

google.krystallise.com www.Appendixes BIBLOGRAPHY (1) (2) www.com Marketing Management by Philips Kotler PC Digest Practical Training (3) (4) (5) .

com www.(6) www.yahoo.com (7) .rediff.

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