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It has 14 local head offices ,57 zonal offices and more than 16,000 branches all over the India. It has more then 12,000 ATM’s. There are 8 subsidiaries. The bank had a total strength of 2,05,896 employees.
Mission Statement • • To retain the banks position as the premier Indian financial services. Group with world class standards and significant global business commitment to excellence in customer, shareholder and employee satisfaction and to play a leading role in the expanding and diversifying financial services sector while continuing emphasis on its development banking role. Premier Indian financial services group with
Vision Statement • global perspective, world class standards of the efficiency and professionalism and core institutional values. • • Retain its position in the country as a pioneer in developing countries. Maximize shareholder value through high sustained earnings per share.
model business strategies.• • • • • • • • • • • An institution with a culture of mutual care and commitment a satisfying and exciting. • Internal consultant/change agent : To act as catalyst for change in attitudes and orientation of banking staff and to provide expertise and consultative support. Work environment and continuous learning opportunity. Excellence in customer service. validate and closely monitor the staff training centers in seven circles attached to the academy Top of Form . Fairness in all dealings and relations. Transparency and discipline in policies Values and systems. analysis of market developments from a banker perspective. Team-playing. Belonging and commitment to the bank. Integrity. Risk taking and innovation. Think Tank : To provide expert and informed suggestions. Continue Feedback supplier : To capture and structure feedback from trainees and from the market. Profit orientation. Learning and renewal. • Research and development role : To carry out research on contemporary subjects which are relevant to the banks short term and medium term and operational needs and policy formulation. STRATEGY ADOPTED BY STATE BANK OF INDIA • Institution for advanced learning : To provide state of the art training in financial products to middle level and senior level executives. • Overlapping staff training centers : To liaise.
with effect from 1st November 2004 had given further scope for increasing efficiency for better performance.. as specified in this Policy. Tribunal or any other forum duly constituted to adjudicate bankercustomer disputes and does not constitute Top of Form Bottom of Form • . directly attributable to the Bank. collections and remittances etc. Scope • • The Policy is based on principles of transparency and fairness in the treatment of customers.default Bottom of Form COMPENSATION POLICY Introduction Technological progress in payment and settlement systems and qualitative changes in operational systems and processes undertaken by various players in the market have improved efficiencies for providing better service to the users of the system. Grant of compensation under this Policy is without prejudice to the Bank's rights in defending its position before any Court of Law. is to establish a system whereby the Bank compensates the customer due to deficiency in service on the part of the Bank or any act of omission or commission.. Withdrawal of RBI's instructions to banks on time frame for collection of outstation cheques. payment of interest on delayed collection of outstation cheques/instruments etc. It has been the endeavour of the Bank to offer services to its customers with best possible utilisation of its technology infrastructure. It is designed to cover deficiency in service in areas relating to account operations. Objective The objective of the policy. namely "State Bank of India Compensation Policy (Banking Services)" (hereinafter called the Policy).
admission of liability or any other issue. the entry shall be reversed immediately on being detected/informed. for the delayed period. direct debit / ECS (Electronic Clearing Service) debit instructions of customers. In the event the Bank levies any charge in violation of the arrangement/ or inadvertently. after due verification. the customer will be compensated equivalent to interest calculated on the amount to be debited. Recognition of deficiency and compensation a) Unauthorised / Erroneous Debit • If the Bank has raised an unauthorized/ erroneous debit to an account. In case verification of the entry reported to be unauthorised/erroneous by the customer does not involve a third party. Bank shall compensate the customer to that extent. at applicable Savings Bank rate minimum Rs. The Bank undertakes to carry out. subject to a maximum of Rs. 1. the Bank shall arrange to complete the process of verification within a maximum period of 3 working days from the date of reporting of erroneous debit.000/-. the Bank shall complete the verification process within one month from the date of reporting of unauthorised/erroneous transaction by the customer. In the event of non-compliance/delayed compliance of instructions by the Bank to meet such commitments. If it involves a third party.20/-. If such a debit has resulted in reduction in the minimum balance applicable for payment of interest on savings bank deposit or payment of additional interest to the Bank in a loan account or levying of penalty for not maintaining the stipulated minimum balance in the account. Bank will compensate the customer with an amount equivalent to interest calculated on the unauthorised/erroneously debited amount at applicable Savings Bank rate. within the prescribed time. subject to scrutiny of agreed terms and conditions. 20/-. besides refunding the cheque return charges. minimum Rs. the Bank will reverse the charges. and compensate the customer • • b) ECS direct debits/other debits to accounts • • . In case of return of a cheque or not carrying out of direct debit instructions due to insufficiency of balance on account of the unauthorized / erroneous debit. of any nature whatsoever for the purposes of Adjudicatory proceedings.
ii) In case of abnormal delay i.a.e. interest will be paid at the rate of 1% above the applicable interest rate to the loan e) Collection of cheque drawn on foreign countries • • ○ ○ ○ . after taking into account the prescribed cooling period for that currency. As time for collection of instruments drawn on banks in different countries vary and even within a country from place to place. d) Payment of Cheques after Acknowledgement of Stop Payment Instructions • In case a cheque has been paid after stop payment instruction is acknowledged by the Bank. interest will be paid at 1% above the specified rate (i. if the period of delay is beyond prescribed collection period and upto 45 days where proceeds of the instruments are to be credited to the deposit accounts. the Bank shall reverse the debit with value dated credit within two working days of the customer intimating the transaction to the Bank and also compensate the customer with Rs.by a sum equal to the charges reversed. with the correspondent.). if levied. c) Issue of ATM/Debit Cards • Where the Bank had issued and activated a debit card without written consent of the customer which has been disputed by the customer without using the card. excluding Saturdays. whichever is lower. delay in collection of cheques payable at foreign centres will be construed if the customers account is not credited within 10 working days.e beyond 45 days. from the date of clear credit to the Bank's Nostro account i. iii) In the event of the proceeds of cheque under collection being required to be credited to an overdraft / loan account of the customer.e.a. delays exceeding 45 days. The compensation on account of delays in collection of instruments in foreign currency would be as detailed below: ○ i) At 5% p. 100/-. 100/-.e. 5% p. iv) For abnormal delays i. immediately but also pay compensation to the customer minimum Rs 50/and maximum Rs. the Bank would not only reverse the charges. interest will be paid at interest rate applicable to the loan account or State Bank Advance Rate (SBAR).
20/-. ii) In case of abnormal delay i. iv) For abnormal delays. Such interest shall be payable with a minimum of Rs.e. immediately on coming to know of the loss of instrument. whichever is lower.a. notify the customer and shall. interest will be paid at 1% above the specified rate (i. No separate compensation is payable by the Bank on account of movement in the values of the respective currency.). simultaneously. delays exceeding 45 days.a. whichever is lower ○ ○ ○ Such interest shall be payable with a minimum of Rs. f) Collection of cheques payable in India • The compensation on account of delays in collection of instruments drawn and payable in India for individual account holders will be as per 'Cheque Collection Policy' and in respect of other account holders it would be paid as detailed below: ○ i) At 5% p. g) Cheques / Instruments lost while in Bank's custody • In the event a cheque or an instrument accepted for collection is lost in Bank's custody or in transit. interest will be paid at the applicable interest rate or State Bank Advance Rate (SBAR). 20/-.account or SBAR. whichever is lower. Bank shall. advise the drawee bank particulars of lost cheques for exercising caution against payment and provide assistance to the customer to . if the period of delay is beyond prescribed collection period and upto 45 days where proceeds of the instruments are to be credited to the deposit accounts. Compensation as detailed above shall be paid without any formal demand from customers and there shall be no distinction between instruments drawn on the Bank's own branches or on other banks which are payable in India. 5% p.e. interest will be paid at the rate of 1% above at the applicable interest rate or State Bank Advance Rate (SBAR). iii) In the event of the proceeds of cheque under collection being required to be credited to an overdraft / loan account of the customer.
compensation would be payable as indicated hereinafter: Sl. iv) The Bank would also reimburse the customer with actual charges levied by the drawer/bank in issuing duplicate cheque/instrument. 2. as per the Cheque Collection Policy of the Bank. specified hereunder. Services Time Norms Delay in issue of cheque book by Beyond 3 Liability Centralised Processing Centre working days (LCPC)/Branch Delay in issue of duplicate ATM card/PIN Delay in issue of internet banking id/password Delay in providing banking services after receipt of request / completed formalities. subject to a maximum of Rs. iii) The Bank will bear the actual charges of recording Stop Payment instructions levied by drawee bank. • The Bank will compensate the account holder in respect of instruments lost while in its custody as detailed below: ○ i) In case intimation regarding loss of instrument is conveyed to the customer beyond the time limit stipulated for collection. ○ ○ ○ Compensation for delay in other services In respect of the following services provided to the customers. Beyond 7 working days Beyond 7 working days Beyond 3 working days . interest will be paid for the period beyond the stipulated collection period at the rates specified in (f) above for cheques payable in India and at rates specified at (e) above in regard to cheques payable abroad. 3.obtain a duplicate instrument from the drawer / maker of the instrument. if the delay in providing services is beyond twice the time norms. No 1. 4. 250/-. ii) Bank will pay interest on the amount of the cheque for a further period of 15 days at Savings Bank rate to provide for possible further delay in obtaining duplicate cheque/ instrument and collection thereof.
Payment of "at par" cheques issued by other Banks Bank will not pay any compensation. natural disasters or other "Acts of God". for dishonour of "at par" cheques issued by other banks. Bottom of Form Top of Form . damage to the Bank's or its correspondent bank(s) systems. as and when deemed fit and proper. if the delay is upto twice the specified time norm given above and Rs. prevents it from performing its obligations within the specified service delivery parameters Amendment/Modification of the Policy The Bank reserves the right to amend/modify this Policy. beyond the control of the Bank. strike or other labour disturbances. 5. in the absence of adequate funds in the account on which cheques are issued even though the amount of the cheque may have been paid to the bank which had issued the "at par" cheque. sabotage. accident. war.100/. to the cheque holder.per instance for delays beyond twice the time norm. communication channels etc. fire. Delay in transfer of accounts Delay in effecting remittances or crediting customers account after receipt of funds Beyond 14 working days Beyond 2 working days The compensation paid by the Bank will be Rs.per instance. lockout. 250/.either through internet banking platform or across the counter. Force Majeure The Bank shall not be liable to compensate customers under this Policy if some unforeseen event including but not limited to civil commotion. at its sole discretion. including co-operative banks. 6.
The code reflected the commitment of the Bank to provide Banking services of a high order to individual banking customers. State Bank of India strongly believes that a satisfied customer is the most important factor for growth of its business. Reserve Bank of India set up the Banking Codes and Standards Board of India (BCSBI) as an independent autonomous watchdog to ensure that customers get fair treatment in their dealings with Banks.default Bottom of Form CITIZEN’S CHARTER Top of Form Top of Form CITIZENS’ CHARTER OF STATE BANK OF INDIA PREFACE : I. SBI is a member of the BCSBI and has therefore voluntarily adopted the Code as its Fair Practice Code in dealings with its customers. The code came into effect from October 1997 as part of the Golden Jubilee Celebrations of Indian Independence. This document called the “Citizens’ Charter of State Bank of India” provides key information on various facilities/services provided to customers in ordinary branches of State Bank of India. II. The BCSBI has published the “Code of Banks’ Commitments to Customers “ (the Code) which sets minimum standards of banking practice and benchmarks in customer service for banks to follow. The Bank was the first in India to introduce a code of Fair Banking Practices in India called “Towards Excellence”. Bottom of Form . In February 2006. The Code was substantially revised in the year 2005 taking into consideration the transformation in banking practices and customer service standards that have since taken place. The Code together with the Citizens’ Charter will thus ensure high standards of accountability. The complete copy of the Code is available at III.
grievance redressal etc. The Charter provides essential information on transactions relating to savings. Mumbai 400021 Telephone: (022)-22029456. Copies of the Code and Citizens’ Charter will be available on request to all our customers at our branches. Information given is subject to change/revision. current and fixed deposit accounts. We will ensure that all our staff members are aware of the commitments contained in these documents and faithfully implement them.responsibility and transparency in the Bank’s dealings with customers. 22029451 Fax: (022)-22885369. VI. (The information on services provided by these branches can be obtained from the branches or the helplines of the respective Local Head office Centres). Your comments and feedback may be sent to the address given in paragraph Bottom of Form . administrative offices and at our web site. Loans and advances may also have specific terms and conditions not mentioned in the Charter. V. if any. IV floor Nariman Point. Your feedback will help us evaluate.co.in) or contact us at the following address: The Chief General Manager (Personal Banking) State Bank of India Customer Services Department State Bank Bhawan. email: dgm. available on our website www. For further details and complete information on terms and conditions of service visit our branches or write to our Local Head Offices (addresses and contact nos. all terms and conditions will comply with the principles and commitments undertaken by the Bank in the Code. The information on general terms and conditions provided herein may not apply to special branches of the Bank like Personal Banking Branches etc.in VII.co.sbi. Information given in the Charter is current as of March 31 2007. IV. The Bank will endeavour to update the information on the website when changes are made but please contact the nearest branch/Zonal Office/Local Head Office for the latest changes. However.customer@sbi. This is not a legal document creating rights and liabilities. collections and remittances. improve and widen our range of services. VIII. We request all our customers to keep us informed of their experiences about the customer services rendered at our branches and feel free to comment on the Code and Citizens Charter. The Charter also provides comprehensive information on Bank’s Grievance redressal mechanism. It also specifies the obligations on the part of the customers for healthy banker-customer relationship.
Home | Sitemap | FAQs | Right to Information Act 2005 | Disclaimer Bottom of Form Top of Form default Bottom of Form About us | Affiliates | Corporate Governance | Investor Relations | Contact Us | Customer Care PERSONAL BANKING NRI SERVICES AGRICULTURE INTERNATIONAL CORPORATE SME DOMESTIC TREASURY SERVICES INTEREST RATES ATM Branch Foreign Offices .VI above.
Specialised Branches .
to provide such assistance or advice to customers in contracting loans. To attempt in good faith to resolve any disputes or differences with customers by setting up complaint redressal cells within the organization. Not to discriminate on the basis of religion. PREAMBLE Scope: l(a) FAIR LENDING PRACTICES CODE (FLPC for short) is a voluntary code adopted by our Bank. 2. To comply with all the regulatory requirements in good faith. It aims to provide valuable inputs to Customers and facilitates effective interaction of customers with the Bank. To provide customers with accurate and timely disclosure of terms. To be fair and honest in advertisement and marketing of Loan Products. 3. To spread general awareness about potential risks in contracting loans and encourage customers to take independent financial advice and not act only on representations from banks. Important declarations: The Bank declares and undertakes To provide in a professional manner. courteous. which aims to achieve synchronization of best practices while dealing with Customers in India. the spirit of which pervades the entire FLPC provisions. FLPC contains 8 important declarations from us. caste. FAIR PRACTICES: HOME » CUSTOMER CARE » COMPENSATION POLICY CONTACT CENTRE CHEQUE COLLECTION POLICY . costs. sex. descent or any of them. KEY POINTS › Important declarations FAIR PRACTICES Interest Rates Revision in Interest Rates Default Interest/Penal Interest Charges: Terms and Conditions for Lending: Accounting Practices Information Secrecy Financial Distress Grievance Redressal Extent: l(b) FLPC would be applicable in the Bank from the date it is placed in the Bank's web site or is otherwise publicised through the media. If sought. diligent and speedy services in the matter of retail lending. efficient.CODE OF ETHICS Top of Form Top of Form [Print Page] FAIR LENDING PRACTICES CODE (FLPC) 1. rights and liabilities as regards loan transactions.
3.2. Interest Rates for different loan products would be made available through and in anyone or all of the following media. are collectively stated "the content"Websitewebsite . omissions .default (a) A prospective customer would be given all the necessary information adequately explaining the range of loan products available with the Bank to suit his / her needs. is at your own risk and responsibility . 3. website shall not be displayed or printed in any form in part Charges: (a) The Bank would notify details of all charges payable by the customers in relation to their loan account. SBI reserves its right to correct any part of the said content at any time as and when required at its sole discretion.126.96.36.199. SBI assumes no responsibility thereof. of changeetc. warranty or representation regarding any content provided Default Interest/Penal Interest: through The Bank would notify clearly about thein respect (a) this website and disclaims its liabilities default thereof. interest/penal interest ratesthe the prospective Any action on your part on to basis of the said content customers.2. inaccuracies and typographical errors. (e) The Customer would be informed the procedure involved in servicing and closure of the loan taken.3 Revision in Interest Rates: (a) The Bank would notify immediately or as soon as DISCLAIMER any revision in the existing interest rates possible [Print Page] and rnake them available to the customers in the media listed in Para 3. etc.material.2 Customers would be entitled to receive periodic updates on the interest rates applicable to their accounts. (b) The Bank would make available for the benefit of prospective customers all the details relating to charges generally in respect of their retail Branch Foreign Offices Top of Form Top of Form Bottom of Form .1. Bottom of Form Interest Rates 3. SBI makes no 3. (c) The Customer would be explained the processes Home | Sitemap | FAQstillRight to Information Act 2005 loan and involved | sanction and disbursement of | Disclaimer would be informed of timeframe within which all the processes will be completed ordinarily at our bank.2. 3. advices suggestions. the customer would be given the relevant information about the loan product of choice. If the said content contains any in this / media/ notice board at branches.2. (b) On exercise of choice. if Tele Banking services are provided (c) Through prominent display in the branches and at other delivery points (d) Through other media from time to time 3. The content of this 3. namely: (a) In the Bank's Web site (b) Over phone. illustrations date circulars through notifications in the Bank’s notifications. (b) Interest Rate revisions to the existing customers would be intimated within 7 working days from the The information.3 On demand. Customers can have full details of method of application of interest. Top of be (d) The Customer would Forminformed of the names and phone numbers of branches and the persons whom he can contact for the purpose of loan to suit his needs. mistakes .
(a) The Bank would ordinarily give an acknowledgement of receipt of loan request and if demanded by the customer. The term 'Third party' excludes all Law enforcement agencies. other banks/ financial and lending institutions. . unless not found necessary by the customers.6. (c) The Bank would notify in advance any change in accounting practices which would affect the customer before implementation. the relevant terms and conditions for sanction and disbursement of loan. and charges if they are not mentioned in the Loan applications. as soon as the customer chooses to buy a product of or service of his choice. Reserve Bank of India. if demanded by the customer. penal interest. 3. 3. (b) Subject to above Para. 3. Information Secrecy (a) All personal information of the customer would be confidential and would not be disclosed to any third party unless agreed to by customer. (d) Reasons for rejection of loan applications would be conveyed to all barrowers irrespective of the size of the loan.8. documents or correspondence. Draft documents or such other papers to be signed by a customer shall comprehensively contain all the terms and conditions relating to the product or service of his choice. customer information would be revealed only under the following circumstances.7.(c) Any revision in charges would be notified in advance and would also be made available in the media as listed in Para 3. Terms and Conditions for Lending: or whole without the prior written approval of SBI. (e) Before disbursement of loan and on immediate execution of the loan documents. If the interest of the Bank require disclosure. If it is in the Public Interest to reveal the information. (c) Loan Application forms. default interest. the Bank would show draft of the documents that the customer is required to execute and would explain.1. Accounting Practices: (a) The Bank would provide regular statement of accounts.2. (b) Immediately after the decision to sanction the loan. If our Bank is compelled by law. Credit Information Bureaux. (b) The Bank would notify relevant due dates for application of agreed interest. a copy of the application form duly acknowledged would also be given. the Bank shall deliver a copy of the documents to the customers.
Top of Form b) The Bank would make available all details.bank 3. . namely. unless the nature of complaint is such that requires verification of voluminous facts and figures.1.Financial Distress: a) The Bank would sympathetically reckon cases of customer's financial distress. Bottom of Form c) Response to a complaint whether positive or negative or requiring more time for redressal would generally be given within a maximum period of four weeks from the date of receipt of complaint. to the customers individually on demand and through the media listed in Para 3. Grievance Redressal a) The Bank would have in place a Grievance Redressal Cell/ Department/ Centre. b) Customers would be encouraged to inform about their financial distress as soon as possible.10.2. Bottom of Form http://w w w . Where a complaint can be made How a complaint should be made When to expect a reply Whom to approach for redressal of grievance etc. c) The Bank would adequately train the operational staff to give patient hearing to the Customers in financial distress and would try to render such help as may be possible in their view..