EMERGENCE OF DOORSTEP

BANKING – MERITS AND DEMERITS

RITIKA LOHIYA
HPGD/OC18/1792
SPECIALIZATION – FINANCE

WELINGKAR INSTITUTE OF
MANAGEMENT DEVELOPMENT AND
RESEARCH

YEAR OF SUBMISSION- SEPTEMBER 2020

 DECLARATION

I hereby declare that the project report “Emergence of Doorstep Banking – Merits and Demerits
has not yet been submitted previously from the basis for award of any degree. This work
embodies the results of my original work conducted. The information submitted is true and
original to the best of my knowledge.

RITIKA LOHIYA

Admission No. HPGD/OC18/1792

PRINCE L.N. WELINGKAR INSTITUTE OF MANAGEMENT DEVELOPMENT AND

RESEARCH
 UNDERTAKING BY CANDIDATE

I declare that the project work entitled “Emergence of Doorstep Banking – Merits and Demerits”
is my own work conducted as part of my syllabus.

I further declare that project work presented has been prepared personally by me and is not
sourced from any outside agency. I understand that any such malpractice will have very serious
consequences and my admission to the program will be cancelled without any refund of fees.

I am also aware that, I may face legal action, if I follow such malpractice.

Signature of the Candidate

 TABLE OF CONTENTS

1. Introduction

2. RBI Paves for Doorstep Banking

3. RBI Issue Norms for Doorstep Banking

4. RBI GUIDELINES FOR DOORSTEP BANKING – 21st February 2007

5. SECTION 23 OF BANKING REGULATION ACT 1949

6. Why doorstep banking system?

7. A. Features of Doorstep Banking

B. Salient Features Of Doorstep Banking (DSB) Services Through Doorstep Banking Agents
(DSA)

8. Banking Services offered at Your Doorstep

9. Benefits of Doorstep Banking

10. Limitations of Doorstep Banking

11. Doorstep Loan

12. Doorstep banking software

13. Introduction of ICICI – In refer to Doorstep banking

14. Terms and Conditions of doorstep banking offered by ICICI

15. Senior Citizens can avail Doorstep Banking Facility during Corona virus Lockdown

16. Postal networks are facilitating doorstep banking during COVID-19

17. Doorstep Banking had triple the size of branch network – case study

18. Conclusion
 1.INTRODUCTION
There is an increasing expectation from customers for better service from their banks. The
availability of ATMs for 24 hour banking is also not seen as sufficient. More and more customers
look for getting banking transaction done sitting in their homes or offices. This has led to the
concept of Doorstep banking more and more volumes.

While, the services to be offered are simple, the timeliness and urgency towards the customer
poses a big challenge specifically because the geographical reach are very important.

These services are already being handled well through phone calls and third party service
providers. However, to handle higher volumes with reduced errors we have evolved the
Doorstep banking solution.

Doorstep banking is a facility provided to you so that you don't have to visit your bank branch
for your routine banking activities like cash deposit, cash withdrawal, cheque deposit or making
a demand draft. The bank extends these facilities at your work place by appointing a service
provider on your behalf.

Doorstep banking lets you call a Phone Banking Officer and request a service that you would
like at your comfort.

As also defined in Regulatory guidelines, Banks now offer the following banking services to all
of their customers at their doorstep:

 Cash pickup and delivery

 Instruments/ Cheque pick up
 Delivery of cash against cheques received at the counter;
 Delivery of demand drafts.

Reserve Bank of India permitted banks to carry out doorstep banking not only to individuals and
corporate but also to government departments, public sector units and others.

These are against cheques received at the counter or request received through any secure
convenient channel as phone banking/internet banking.

In order to manage/ track/ evaluate these services centrally, there is need of robust system
integrating central unit, hub branches & service provider agency. This system should enable the
faster mode of communication between central unit, hub branches, service provider & customer
thus reducing the turnaround time so that each customer is serviced effectively.

Doorstep banking software has been built with an objective to provide support to any doorstep
support service providers. A dynamic structure of each pick-up agencies their reporting
branches and each Customer is maintained. Through system generated alerts each CIT IS
Coordinated thus reducing manual effort, cost and confusion.
 2.RBI PAVES WAY FOR DOORSTEP BANKING

After a gap of 21 years, the Reserve Bank of India has once again allowed domestic banks
to offer doorstep banking, to their customers but with its prior approval.

A circular issued on April 30 stated that, "A scheme for providing services at the premises of
a customer within the framework of Section 23 of the Banking Regulation Act 1949 may be
formulated by banks with the prior approval of their board and submitted to the Reserve
Bank for approval".

The practice was banned in May 24,1983 whereby banks were advised not to extend any
banking facilities at premises of their customers without prior approval of the RBI.

The decision, the circular stated, has been taken in view of several requests received from
government departments such as railways and representation from banks.

Till the time a separate scheme is worked out, agency banks in the business of conducting
government business may continue to lift cash and collect credit instruments from premises
of central and state government departments.

Government business, includes disbursing pension, distribution and collection under

savings bonds among other things.

Explaining the significance of the development , a banker said the facility follows the RBI's
resolve to pay special attention to the needs of a typical Indian depositor who seeks safe
avenues for his savings.

In its annual credit policy announced last, the governor stated, "banks are urged to refocus
on deposit mobilisation and empower depositors by providing wider access and better
quality of banking services.

Therefore, the RBI will persist with its efforts to ensure quality of banking services in
particular to small individual depositors.

The RBI has also decided to set up an independent Banking codes and standards Board of
India on the model of mechanism in the UK which will evolve comprehensive code of
conduct for fair treatment of customers.
 3.RBI ISSUES NORMS FOR DOORSTEP
BANKING
Banking services will now be available at the doorstep. Individual customers can have cash and
other bank instruments picked up from their home or office while only demand drafts will be
delivered. Corporate customers can additionally have cash delivered. Corporate customers can
additionally have cash delivered against cheque received at the bank’s counter.

The Reserve Bank of India on Wednesday issued guidelines for banks on “Doorstep Banking”
allowing banks to either deploy their employees or hire agents to extend these services.

The new guidelines allow banks to extend cash delivery services to corporate clients, public
sector units and departments of Central and state governments against the receipt of cheque at
the branch, and not based on telephonic requests. Individual customers cannot, however, avail
of this facility.

Similarly, the delivery of demand drafts for both individual and corporate customers will be done
by debiting the account on the basis of requisition in writing or cheque received and not against
cash collected at the door step.

The RBI has, however cautioned banks about risk arising out of these services and asked them
to prescribe cash limits. “Banks are advised to take into account various risks that may arise on
account of offering doorstep banking services to customers directly or through agents and take
effective steps to manage the same. Banks may specifically consider prescribing cash limits for
their agents and customers in this regard,” says the circular.

According to the guideline, bank have been asked to acknowledge cash collection by issuing
receipts and ensuring that it is credited to the customer’s account on the same day or the next
working day.

The charges for these services would have to be prominently indicated on brochures.

These services will be provided only to those customers who have adequately fulfilled the
bank’s “Know Your Customer” norms.

Banks will now have to prepare their own schemes based on the guidelines with the approval of
their board. The central bank has also asked banks to appoint a Grievance Redressal
Machinery for redressing complaints about services rendered by its ‘agents’. The name and the
telephone number of the designated officer should be made available to the customers on
bank’s website.

Banks have been asked to educate their ‘agents’ about the incidence of circulation of forged
notes, particularly of high denominations. “Banks are advised to take suitable steps to educate
their “Agents” to enable them to detect forged and mutilated notes so as to avoid frauds and
disputes with the customers,” said the circular.
4.RBI GUIDELINES FOR DOORSTEP BANKING –
21st February 2007

Banks can offer through own employees and Agents the banking services like pick up of cash,
instruments and delivery of cash and demand drafts to Corporate Customers/ Government
Departments/ PSUs/ Individual Customers at their doorstep.

In order to ensure transparency in respect of the rights and obligations of customers, uniformity
in approach and to clearly delineate the risks involved, RBI has laid down general principles and
broad parameters to be followed by banks while offering "doorstep" services to their customers,
Accordingly, banks may prepare a scheme for offering "doorstep" banking services to their
customers, with the approval of their Boards, in accordance with the guidelines provided below-

Detailed Guidelines for Doorstep Banking

1. Services to be offered

Banks can offer the following banking services to their customers at their doorstep: -

(a) Corporate Customers/ Government Departments/ PSUs etc.

(i) Pick up of cash

(ii) Pick up of instruments
(iii)Delivery of cash against cheques received at the counter
(iv) Delivery of demand drafts
(b)Individual Customers/Natural persons:

(i)Pick up of cash

(ii) Pick up of instruments

(iii) Delivery of demand drafts

2. Modalities of Delivery

(a)Through own employees

(b) Through Agents

Where banks engage the services of Agents for delivery of services, it should be ensured that
the policy approved by the Board lays down the broad principles for selection of Agents and
payment of fee/commission etc. Banks may refer to the guidelines on Managing Risks and
Code of Conduct in Outsourcing of Financial Services by banks issued on November 3, 2006
and ensure that the principles enumerated therein are complied with while offering Doorstep
Banking services.

3. Delivery process

(i) Cash collected from the customer should be acknowledged by issuing a receipt on behalf of
the bank;

(ii) Cash collected from the customer should be credited to the customer’s account on the same
day or next working day, depending on the time of collection;

(iii) The customer should be informed of the date of credit by issuing a suitable advice.

(iv) Delivery of demand draft should be done by debit to the account on the basis of requisition
in writing/ cheque received and not against cash or instruments collected at the doorstep;

(v) Cash delivery services may be offered to the corporate clients/PSUs/departments of Central
and State Governments against receipt of cheque only at the branch and not against telephonic
request. No such facility, however, shall be made available to individual customers;

4. Risk Management

It may be ensured that the agreement entered into with the customer does not entail any legal
or financial liability on the bank for failure to offer doorstep services under circumstances
beyond its control. The services should be seen as a mere extension of banking services
offered at the branch and the liability of the bank should be the same as if the transactions were
conducted at the branch. The agreement should not provide any right to the customer to claim
the services at his doorstep.

5. Transparency

Charges, if any, to be levied on the customer for doorstep services should be incorporated in
the policy approved by the Board and should form part of the agreement entered into with the
customer. The charges should be prominently indicated on brochures offering doorstep
services.

6 .Other conditions

(i) Doorstep services should be offered to only those customers in whose case proper KYC
procedures, as laid down in RBI guidelines dated November 29, 2004 and subsequent
circulars on the subject have been followed;

(ii) The services should be offered at either the residence or office of the customer, the
address of which should be clearly and explicitly mentioned in the agreement.

(iii) The agreement/ contract with the customer shall clearly specify that the bank will be
responsible for the acts of omission and commission of its ‘agent’.

(iv) The "Scheme" should not be restricted to any particular client/customer or class of
customers.

(v) Banks may keep in view the restrictions imposed by Section 10 (1) (b) (ii) (b) of the
Banking Regulation Act, 1949, while making payments for the services outsourced.

7. Redressal of Grievance
a) Banks should constitute an appropriate Grievance Redressal Machinery internally for
redressing complaints about services rendered by its ‘agents’. The name and telephone number
of the designated Grievance Redressal officer of the ‘bank’ should be made available to the
customers including on the bank’s website. The designated officer should ensure that genuine
grievances of customers are redressed promptly.

b) If a customer feels that his complaint has not been satisfactorily addressed, he will have the
option to approach the Office of the concerned Banking Ombudsman for redressal of his
grievance/s.
5.SECTION 23 OF BANKING REGULATION ACT
1949-

DOORSTEP BANKING

1. In terms of which banks were advised to formulate a scheme with the approval of their
Boards, for providing services at the premises of a customer and submit it to Reserve Bank for
approval.

2. In order to ensure transparency in respect of the rights and obligations of customers,

uniformity in approach and to clearly delineate the risk involved, it has been decided to lay down
general principles and broad parameters to be followed by banks while offering “doorstep”
banking services to their customers, Accordingly, banks may prepare scheme for offering
“doorstep” banking services to their customers, with the approval of their Boards, in accordance
with the guidelines enclosed to this letter.

3. Attention of banks is also drawn to the incidence of circulation of forged notes, particularly,
high denomination notes, in the market. Banks are advised to take suitable steps to educate
their “Agents” to enable them to detect forged and mutilated notes so as to avoid frauds and
disputes with the customers.

4. Banks are further advised to take into account the various risks that may arise on account of
offering doorstep banking services to customers directly or through agents and take effective
steps to manage same. Banks may specifically consider prescribing cash limits for their agents
and the customers in this regard.

5. The operation of the scheme may also be reviewed by the Boards of banks on a half-yearly
basis, during the first year of its operation and subsequently on an annual basis.
 6.WHY DOORSTEP BANKING SYSTEM?

In this connection doorstep banking has emerged an alternative to keep traditional flavor of
relationship physically alive between a banker and a customer. In fact, this kind of banking in
which banks are supposed to render banking services to their customers through their own
employees or through their agents. It is used by banks to enhance their customer base in this
fierce competition .It is not only winning new customers but also retaining of old customers too
has been a cumbersome task.

However, doorstep banking is one system that would go well with banks sharing a long
standing rapport with their customers, as they could cash in on relationship by cross selling
other products and services. By all means, it is the customer who is going to be benefited by
doorstep banking.

So the question is why go to the bank when bank is ready to visit

home, office, business establishment etc?
Today as life moves at a place faster than ever, it leaves behind fewer moments for you to
perform your banking transactions. This convenience banking is the numero-uno solution for
people who would like to save even five or 10 minutes spent in going to an ATM, typing their
login passwords, withdrawing cash and standing in serpentine queues at a bank branch.
 7. A.FEATURES OF DOORSTEP BANKING

Most of the leading Banks and financial services institutions offer doorstep banking. It is a
customer-oriented service provided by the banks to win an edge over other players in the
market. One can avail many banking services including loan applications in the comfort of one’s
home. Some of the main features of the doorstep banking are:

 Banking services available at home vary from bank to bank. Most banks provide pick-up
and drop of cash, instruments, demand drafts, cheques, account opening from, loan
application completion, Life certificate pick up, KYC documents pick up etc.

 India Post Payments Bank offers doorstep service which includes account opening, cash
deposits, money transfers, recharge and bill payments, loans and insurance

 Doorstep banking is simple and secure.

 Most Bank offer this service free of cost.

 It saves precious time of a customer for simple transactions.

 One can avoid long queues at the bank to complete transactions.

 It reduces the risk of carrying large amounts of cash to the bank.

 Dedicated courier agency/ agents are appointed by the banks to transfer important
documents and cash.

7. B. SALIENT FEATURES OF DOORSTEP BANKING (DSB)

SERVICES THROUGH DOORSTEP BANKING AGENTS (DSA)

1. Eligibility:
i Resident Individual customers

ii. Fully KYC compliant accounts

iii. Valid Mobile number should be registered with the account

iv. Joint account holders with E or S, F or S, only.

v. Registered for SMS facility in CBS.

2. Services Available:
The following Financial/Non-Financial services are available.

i. Cash Pick up and Cash Delivery from own account.

ii. Cheque/Instrument Pickup for Collection /Clearing for own account .

iii. Cheque Book Requisition slip pickup.

iv. Statement of Account/ Term Deposit Advice (The Bank may add/ amend services from time
to time)

3. Availability:
i. The service request can be made at Toll Free Number 1800 1111 03 between 9 am to 4 pm
on working days at the centre.

ii. The services request can also be made through Doorstep Banking Tab in YONO App/ INB
Channel (under development).

iii. These services will be available to customers having Registered address within a radius of 5
Km from the Home Branch.

iv. The DSB Service is available in Savings Bank/ Current Account of resident individual
customer only.

v. The services are not available to-

a) Minor including under Guardianship

b) Savings Bank Account opened under MACT Claims SB Account

c) Joint Account operated Jointly

d) Account operated through Power of Attorney

e) Accounts of Non-Individual Customers

f) Account of illiterate Customers

4. Modality of Delivery:
i. By Doorstep Banking Agent (DSA) outsourced for DSB Service purpose.

ii. Cheque Book/ Statement of Account/ Term Deposit Advice shall be delivered directly by the
Bank through Post/Courier.

5. Turnaround Time:
The service delivery through Doorstep Banking Agent (DSA) would be completed expeditiously
on best effort basis but not later than T+1 working day (holidays excluded).

6. Cash Deposit/ Payment :

The limits for cash transactions under DSB services are:

Cash Pick up Cash delivery

(Deposit) (Withdrawal)

Per day Transaction allowed 1 1

Per Transaction cash limit (maximum) 20,000/- 20,000/-

Per Transaction cash limit (minimum) 1,000/- 1,000/-

The Bank may revise the Cash pick up / delivery limit at its sole discretion. Deposit /Withdrawals
can be made in multiples of Rs 100/- only.

7. Transfer of Account:

In case of transfer of account from one branch to another, the customer has to provide current
address with Pin Code to the Bank before request for Doorstep Banking services are made.

8. Process Flow:
i. The Customer has to visit his home branch and signs the prescribed Application cum Terms &
Conditions form and Undertaking (enclosed as Annexure II and III). A copy of latest photo should be
affixed on the Application Form.

ii. Once registration is completed in CBS, the customer is eligible for Doorstep Banking services and an
SMS acknowledging registration under Doorstep Banking Services shall be sent to the customer(under
development).

iii. Customer desirous of availing of the facility, should call Toll -Free number 1800- 1111-03 ( 9 AM to 4
PM on working days only at the centre) from the mobile number registered with the Bank.

iv. Once the call is connected, customer shall input last 4 digit of Savings Bank/ Current Account number
for which Doorstep Banking Services has been registered.

v. After initial verification, the call shall be forwarded to Contact Centre Agent, who after
second/additional verification, shall record the request. The customer shall provide the detail of request
and the preferred time of service delivery (9 AM to 5 PM on working days only) to the Contact Centre
Agent.

vi. Once a request is accepted, the customer will get an SMS advising Case ID and request type.

vii. If the customer registers request through Doorstep Banking Tab in YONO App or through Internet
Banking channel(s), he/she will also receive an SMS advising Case ID and request type (under
development).

viii. The request shall be forwarded to Doorstep Banking Agent who will contact the customer and fix an
appointment.

ix. At the appointed time, the Doorstep Banking Agent (DSA) shall visit the registered address of the
customer and show his credentials (Photo ID Card and OVD).

x. The DSB Agent shall also verify the identity of customer through Photo ID and OVD of the customer.

xi. Initiation of transaction by the Customer shall signify establishment of identity of the DSA and
Customer.

xii. The service request shall be initiated in the Doorstep Banking web portal in the mobile carried by the
DSB Agent. Customer shall input Case ID and Verification Code in the web portal to initiate the
transaction.

Xiii. In case of financial service of Cash Deposit and Cash withdrawal, Customer shall input Case ID and
Verification Code personally in the web portal (and not share with DSA) and on validation, transaction
will proceed further. Customer will hand over the cash (in case of Cash Deposit) or receive the cash (in
case of cash delivery) as the case maybe to /from DSA and simultaneously inputs Confirmation Code
(received by customer through SMS) to complete the transaction. His account will be credited/debited
on real time basis, and charges will be debited from his account.
xiv. The customer will receive SMS for the completion of transaction. He will then allow the Doorstep
Banking Agent (DSA) to leave.

xv. If the customer inputs wrong confirmation code or fails to input confirmation code in the web portal
within ten minutes of receipt of confirmation code, the transaction shall be failed. In case of transaction
failure, the Customer shall not accept/ handover the cash from/to Doorstep Banking Agent (DSA).

xvi. Customer shall not submit any Cheque/ Withdrawal Form to Doorstep Banking Agent (DSA) for
withdrawal of cash. Similarly, no Pay-in Slip is required to deposit cash.

xvii. In case of non -financial service, Customer shall input Case ID and Verification Code personally in
the web portal (and not share with DSA) and on validation, Customer shall hand over the Cheque/
Instrument/ Cheque Book Requisition Slip to the DSB Agent.

xviii. DSB Agent shall deposit the Cheque/ Instrument/ Cheque Book Requisition Slip at the Designated
Branch at the Centre and update the position in web portal

. xix. The Statement of Account/ Term Deposit Advice request shall be generated/ printed by the Bank
and despatched to customer’s address through Post/Courier

. xx. If at the appointed time, the DSA reaches the registered address but is unable to deliver the
services for reasons attributable to the Customer, the applicable charges would be payable by the
customer.

xxi. If the service remains undelivered due to technical failure or for reasons attributable to the Bank /
DSA, no charges would be recovered.

xxii. The Doorstep Banking Services should be seen only as an extension to regular banking services
offered by our Bank and hence liability of the Bank remains to the same extent as if the transactions
were conducted at the Branch.

9. Other Instructions:
i. Since all Doorstep Banking Services requests generation and service related information/ SMS/
verification/ confirmation code are made through /received in customer’s registered mobile number,
hence, any action taken/ transaction executed in pursuance of instruction received from/sent to
Customer’s mobile shall be the responsibility of the customer and deemed to have emanated from
/confirmed by customer.

ii. No other services /requests shall be entertained by Bank/ DSA other than the service request
registered through Toll Free Number.

iii. Customer shall not make any payment for the services to the Doorstep Banking Agent (DSA). It shall
be charged directly from their account.
v. The Customer can include only two services in one call (Cash transaction i.e. Pick up or Delivery will be
one only. For another cash transaction, separate service request is required).

v. The Customer can submit two Cheques/Instruments per request for pick up.

vi. The Customer can request for maximum 100 cheque leaves through Cheque Book Requisition Slip.

10. Complaint:
The customer can register his complaint regarding Doorstep Banking Services through Toll Free Number
provided for service request or through Home Branch.
 8.BANKING SERVICES OFFERED AT YOUR
DOORSTEP

Doorstep banking is a concept in which banking services are provided at the premises of a
customer. Availability of ATM’S for 24 hours banking is not seen sufficient. More and more
customers are looking to get banking services at home and office. Hence Doorstep Banking has
become a critical channel for banks.

Services offered at Doorstep

The following Doorstep Banking services are available:

 Cash pickup.
 Cash delivery.
 Cheque pickup
 Instrument pickup
 Receive application for opening Current and Saving Account
 Receive application for fund bases and non-fund facility
 Cheque requisition Slip pickup.
 Form 15H pickup.
 Delivery of Drafts.
 Delivery of Cash against cheque received
 Delivery of Term Deposit Advice Delivery of Term Deposit Advice.
 Life Certificate Pickup.
 KYC documents pickup.
 Provide Doorstep Loan
9. BENEFITS OF DOORSTEP BANKING
Its benefits include banking facilities at home, easy and convenient banking, instant account
opening and simple, secure and hassle-free banking. The customer on- boarding for doorstep
banking is free. People do not have to pay any charges for it.

 No queuing at the branch, bank at your doorstep

 Dedicated courier agencies for cash pickup & delivery secured by a comprehensive
insurance cover

 Multiple verifications and identification process to ensure security

 Reduced risk of carrying large sum of cash to or from the branch

 To help identification, the list of agency personnel is shared with you

 To confirm identification, you can check photo the id proof of agency personnel

 Increasing the security by reducing cash transactions.

 Flexible, expandable access points by agent network.

 Other convenient and real time transactions

 Cost effective Model

 Improved Business Acquisition

 Secure authentication modes

 Real-time Accounting status using 3G/4G network connectivity

 Opens a new channel of bank, increases reach to customers in place with no branches

 Coordination among agencies, customers and banks becomes automated

 Improved customer retention

 Live tracking of field agents

10. LIMITATION OF DOORSTEP BANKING

 Following are the limitation of doorstep Banking –

 Small sample size

 Possibility of biased responses

 Possibility of errors in questionnaire

 Some bank may charge extra charges

 Banks may apply more rules and regulations of which customer not aware.

 Low Returns

 Limitation on Deposits

 You cant borrow very large amount of money

 Interest rate is higher

 Weather patterns

 Changing consumer behavior

 Service available only for those who residing within 5 km

 Inability to handle complex transactions

 Risk of actual and / or identity theft

 Customers are attracted towards other financial product like mutual funds etc

 Inconvenient Hours

 Convenient but not always faster

 Limited scope of services etc

11. Design Architecture/ Framework

The Doorstep banking Application is developed using Web based 3- Tier architecture. The
components of 3- Tier architecture are User Interface (UI) layer, Business layer (BI) and Data
Access (DA) layer etc.

The overview of entire solution is shown as follows:

Target (Production) Hardware & Hardware Interfaces.

Web Server: Server class machine with at least 250 MB of disc space and minimum 512 MB
RAM.

Application User: Any desktop/laptop machine with appropriate desk space.

Technical Architecture: Enabling Software & Interfaces ON SERVER

Server Operating System: Windows/ Linux

Database Server: MySQL Version 4.1.x through 5.1.x

Web Server: Apache

SMS Gateway: SMPP

Mobile App: Android

12. Doorstep Loans

A. About Doorstep Loans

Doorstep loans are a popular concept in the western countries. It is a type of unsecured loan
wherein small sums of money can be borrowed without any collateral or guarantee. An agent
makes cash available right at the doorstep of your house with minimal documentation. One
need not approach a bank or a lending institution to borrow finance. This type of loan perfectly
fits the need to meet immediate finance which is unforeseen. It is also useful when an individual
does not want to go through the hassle of applying, having eligibility criteria checked and submit
documents for small amounts of loan.

Currently, doorstep loans are not available in India. However, a closer concept of doorstep
banking is offered by most of the leading banks in the country. When you apply for a loan, be it
a home loan, car loan or any personal loan, bank representatives come to your home to explain
the features of the loan and help in completing the documentation there itself. You do not have
to go to the bank personally. This is a very convenient service available when everyone is hard-
pressed for time.

This is a free of cost service offered by leading financial institutions. This type of service helps in
making finance reachable to many parts of the country. Many banks offer other services like
Cheque /DD pick up, FD deposits, account opening right at the convenience of your home. Axis
Bank, SBI, Bank of Baroda, HSBC,ICICI, Deutsche Bank and HDFC Bank are some of the
banks that provide this service in India.

B. Eligibility Criteria for Doorstep Loan

 To be able to avail the service of doorstep banking, it is important to know the following criteria
which is generic to most banks:
 Possess a savings/current/operative account with the bank
 Be a senior citizen of the age 70 years and above
 Differently able or special needs people can avail this service.
 Some banks offer doorstep banking as a benefit to their top customers/premium account
holders.
 Should have completed KYC formalities with the bank
 Should be above 18 years of age
 Resident of India

C. Doorstep Banking – Loan Application Process

While doorstep loans are not available as a product in India, most leading banks offer loan
products at the comfort of your home. One can reach out to the lender through phone or through
online sources and a representative/agent will respond to you with further details. Normally,
doorstep loans are managed by agents in a specific locality or area. They analyse your financial
requirement and then deliver the required money. The tenure of the loan is to be mutually
decided between the lender and borrower. Once a mutual understanding has been arrived at,
the money is handed over and then the repayment amount is collected by the agent on a weekly
basis. The whole process of getting a doorstep loan gets completed in 3 to 5 days’ time.

This is an informal type of loan. Some agents carry out informal credit check on your financial
history and some only require a proof of your regular income or wages. Since the loan amounts
are normally less as compared to the formal way of lending money from banks, the level of risk
is manageable.

Self-employed, unemployed, debt-ridden individuals can request for a doorstep loan. The
documents required are very minimal such as ID proof like driving license/passport, address
proof and bank statement.

The interest rate chargeable on this type of loan is generally double the formal lending rate in
the market. The loan interest rate is normally not negotiable as it is unsecure. If you are a
regular customer of doorstep loans, there is a possibility of getting a better interest rate due to
familiarity. This type of loan does not levy any late fee on skipped installments or late payments.
If your financial condition is not secure or you have a bad credit history, this loan can be helpful
in meeting your immediate needs or to pay off debts.

D. Benefits of Doorstep Loans

 Some of the benefits of doorstep loans are:

 Quick money :
Since there is not much of documentation required and credit check is very superficial, it is
very easy to get money out of this loan.

 Credit check is not mandatory :

It depends from lender to lender whether credit checks are done. Since, it is not compulsory,
one can get finance easily even if you are sitting on a pile of debt.

 No late payment fees :

Even if the borrower forgets to pay one installment, there is no late payment fee charged
unlike the formal banking system.

 Very convenient :
As the name of the loan suggests, the money is delivered right at your doorstep. There is no
need to visit any financial establishment or wait in queues to get finance.

E. PROS AND CONS OF DOORSTEP LOAN

 Doorstep loans are different from traditional ones in more than one way. In short, they are
loans that come to you, instead of having you go to them. If you’ve never heard of them, you
might want to peruse Our Comprehensive Guide to Doorstep Loans, which will get you up to
speed with the ins and outs of this very particular type of loan.
While they have many advantages, there are also some disadvantages to consider, which is
exactly what this article is going to discuss, in order to help you make up your mind on whether
or not they are suitable for your needs.

What are the advantages Doorstep loans bring?

First, the good – a doorstep loan brings a series of indisputable pros to the table, mostly related
to convenience. When it comes to that, it can’t be beaten. So if that’s where your problem lies,
take a look at what these loans can do for you.

1. The entire process is carried out from the comfort of your home
Clearly, as the name suggests, the biggest advantage is the fact that you don’t have to leave
the house in order to take out this loan, pay it back, etc. No step of this process requires you to
leave the comfort of your home. Now, this is important for a number of reasons:
 You might not have time to run around
 You might have a disability
 You might be an elderly citizen
 You may not be able to procure childcare
These are all perfectly valid reasons that make traditional loans prohibitive to certain categories
of people, so the possibility for these loans can be a life-saver. Find out if you’re a good
candidate for doorstep loans. Everyone deserves a chance to achieve financial stability, and
these loans offer that chance to these people.

2. You don’t have to wait around forever to get your money

Another problem with traditional loans is the very long waiting period. It can take forever from
the time you apply and until you finally receive the money. When you’re in a financial pinch and
you need money urgently, you (literally) can’t afford to wait around for the bank to process your
loan, your payments, and all the bureaucracy that comes with an application.
Loans at your doorstep eliminate this problem by simplifying the entire process and making it as
quick and as easy as possible for you to get the money you’ve borrowed. You don’t have to
worry about getting your money on time, as someone will be at your house shortly to
drop it off when you opt for same day doorstep loans.

3. You get your money in cash

Related to the previous point, part of why loans take so much time to get to you is that they’re
bank deposits or transfers and they take time to process in a moment where you don’t have
time. In addition, if you want cash, you have to go to the bank and request it and then take the
most stressful trip home ever, knowing you have so much money on you.
Having cash loans at your doorstep means that you can use it right away for whatever you
need, no matter how big or small. In addition, the fact that you get it delivered to your home
means it’s safer for you because you don’t have to be the one walking around with a briefcase
full of money.

What are the disadvantages one needs to consider with

doorstep loans?

And now, the bad – everything has a drawback, and these loans make no exception. So, what
are the hidden risks of taking out a loan like this and do they outweigh the benefits?

1. You can’t borrow very large amounts of money

Because this is a non-traditional loan that doesn’t require good credit, it means the sums of
money you have access to aren’t as large as they would be on a regular loan. This type of loan
is good when it comes to smaller expenses or maybe some debt, but if you want to make a
major purchase, like a house or a car, you will need some other form of financing, because the
no credit check doorstep loans are not it.

2. You have to be careful around lending companies

Obviously, when you’re getting a traditional loan from a bank or some other well-known financial
institution, there is nothing to worry about, but with cash loans like these, there are less
reputable companies that will take advantage, or will put pressure on you when it comes to
repayment or in order to make a sale._ It goes without saying that you should thoroughly
research the company before you accept money and if anything seems off, walk away.

3. The interest rate is higher than on other loans

Doorstep Loans for bad credit and for shorter terms means that the interest rate is going to be
higher than on a traditional loan. You lack the security of certain repayment, so the lending
entity has to take measures to protect itself.
This can be worth it if you need money urgently and the high interest won’t affect you too much
financially, but if affordability of the repayment installments is an issue, reconsider.

DOORSTEP LOAN RECAP

PRO CON

Can get the loan from home Smaller amounts of money

Possibility for unreliable

Short waiting time
lenders

Get money in cash High interest

In conclusion,
A Doorstep Loan can definitely be the right choice for people who seek relatively small
amounts of money, who are happy to repay with high interest and who have limited other
options. However, if you think you can’t afford the repayment installments or you need more
money for a big purchase, it may be worth looking into different avenues or alternative financing
such as credit cards where you can do a soft search before hand on sites like Money Saving
Expert.

13.DOORSTEP BANKING SOFTWARE

Doorstep banking is a concept in which banking services are provided at the premises of a
customer. There is a rising demand for getting banking and insurance services at home or
office. Doorstep services include new account opening, cheque, cash pickup / delivery,
insurance and investment advisory, KYC documentation and other services. Doorstep banking
has become a vital customer experience factor for the BFSI industry.
 
Doorstep banking software empowers banks, financial services and insurance companies to
provide a seamless doorstep experience for their customers with an mobile friendly, flexible and
customizable AI enabled banking platform.

A. Features of Doorstep banking software

1. Digital on boarding
Swiftly onboard customers on the fly with tablet based account opening, KYC documentation
and photo scan powered by auto populated forms and wizard based workflows.

2. Paperless banking

Scan documents, upload files, capture photos and ID cards, with handheld devices.
3. Appointment booking
Ensure lesser number of visits with preferred time slot selection, document checklists.

4. Digital payments
Offer variety of payment options with card, cash, wallets etc with instant receipts and OTP
based transactions.

5 .Fraud detection
Minimize frauds by secure biometrics, OTP based handovers, time stamping of all artifacts as
well as location based check-ins.

6. Smart scheduling
Automatically allocate jobs to 'runner boys' based on proximity, availability and skills.

7. Capacity management
Intelligent capacity management of field agents with auto calculation based on primary zone,
jobs, availability, leaves, backfill and overbooking

8. Attendance and leaves

In-app leave management for field inspectors with single-click approvals

9. Flexible workforce management

Hybrid workforce management for own, contract, third party agents using web console to feed
data

B. Problems solved by doorstep banking software

Followings are the problems which can be solved by doorstep banking software:

1 .Manual capture of customer data with end of the day logging

2. Communication lag with no real time updates

3. Heavy paperwork and delays in approvals, processing and on boarding

4. Missed opportunities and lower conversions.

5. .Expand Customer base and provide better services and reduce processing time and effort
for various banking processes.

14. INTRODUCTION OF ICICI

Overview of ICICI

ICICI Bank Limited is an Indian multinational banking and financial services company with its

registered office in Vadodara Gujarat and corporate office in Mumbai, Maharashtra . It offers a
wide range of banking products and financial services for corporate and retail
customers through a variety of delivery channels and specialized subsidiaries in the areas
of investment banking, life, non-life insurance, venture capital and asset management. The bank
has a network of 5,275 branches and 15,589 ATMs across India and has a presence in 17
countries.[6]

ICICI Bank is one of the Big Four banks of India.[7] The bank has subsidiaries in the United
Kingdom and Canada; branches in United States, Singapore, Bahrain, Hong Kong, Qatar,
Oman, Dubai International Finance Centre, China[8] and South Africa;[9] as well as representative
offices in United Arab Emirates, Bangladesh, Malaysia and Indonesia. The company's UK
subsidiary has also established branches in Belgium and Germany.[10]

ICICI Bank’s equity shares are listed on Bombay Stock Exchange of India and National Stock
Exchange of India Limited and its American Depositary Receipt (ADR’s) are listed on New York
Exchange (NYSE).

History of ICICI
ICICI Bank was established by the Industrial Credit and Investment Corporation of India
(ICICI), an Indian financial institution, as a wholly owned subsidiary in 1994 in Vadodara. The
parent company was formed in 1955 as a joint-venture of the World Bank, India's public-sector
banks and public-sector insurance companies to provide project financing to Indian industry.[11]
[12]
 The bank was founded as the Industrial Credit and Investment Corporation of India Bank,
before it changed its name to ICICI Bank. The parent company was later merged with the bank.

ICICI Bank launched internet Banking operations in 1998.[13]

ICICI's shareholding in ICICI Bank was reduced to 46 percent, through a public offering of
shares in India in 1998, followed by an equity offering in the form of American depositary
receipts on the NYSE in 2000.[14] ICICI Bank acquired the Bank of Madura Limited in an all-stock
deal in 2001 and sold additional stakes to institutional investors during 2001–02.[15]

In the 1990s, ICICI transformed its business from a development financial institution offering
only project finance to a diversified financial services group, offering a wide variety of products
and services, both directly and through a number of subsidiaries and affiliates like ICICI Bank. In
1999, ICICI become the first Indian company and the first bank or a financial institution from
non-Japan Asia to be listed on the NYSE.[16]

In October 2001, the Boards of Directors of ICICI and ICICI Bank approved the merger of ICICI
and two of its wholly owned retail finance subsidiaries, ICICI Personal Financial Services
Limited and ICICI Capital Services Limited, with ICICI Bank. The merger was approved by the
Reserve Bank of India in April 2002.[17]

In 2008, following the 2008 financial crisis, customers rushed to ICICI ATMs and branches in
some locations due to rumours of an adverse financial position of ICICI Bank. The Reserve
Bank of India issued a clarification on the financial strength of ICICI Bank to dispel the rumours.
[18]

In March 2020, the board of ICICI Bank Ltd. approved an investment of Rs 1,000crore in Yes
Bank Ltd. This investment resulted in ICICI Bank Limited holding in excess of a five percent
shareholding in Yes Bank.

ICICI offers wide variety of deposit products to suit your requirement. Coupled with convenience
of networked branches/ ATMs facility of E- channels like Internet banking, Mobile Banking, ICICI
brings banking at your doorstep, Select any of the deposit products and provide your details
online and our representative will contact you for account opening.

Good treasury management is essential to business efficiency. Treasures are responsible for
the management of money in business. Their role is to ensure that the business has sufficient
funds, in the appropriate currencies to meet it’s operational, financial and strategic objectives.
ICICI Doorstep Banking

Why go to the Bank when your Bank can come to you? That’s right, no more need for constant
trips to the bank. Get the advantage of ICICI Bank’s Doorstep Banking, a convenient banking
option for pick-ups and delivery from your place of business. Now you don’t have to risk carrying
cash to or from the bank.

Doorstep banking from ICICI Bank is especially designed for entities such as yours having large
number of daily banking transactions, Doorstep banking means you save considerable time
and effort. The result ? More time to carry out other essential activities that help improveand
grow your business.

Make the most of ICICI Bank’s Doorstep Banking, a convenient banking option for pick-up from
and delivery to your place of business. You don’t have to risk carrying cash to or from the bank.
Deposit / withdraw cash, deliver / collect trade documents and deposit cheques at the safety of
your office, with ICICI Bank’s Doorstep Banking Service for Current account of customers.

Key Feature Include

It’s convenient- Transact from your premise

It’s hassle-free- Experienced agencies deployed

It’s safe- Cash –in-transit insurance with multiple verification Procedures.

Key Benefits of Doorstep Banking

It’s convenient. You get service at your doorstep. So no traveling to the branch. It’s secure.
Cash-in-transit insurance, multiple verification and reconciliation procedures make the facility
fool-proof. It’s flexible. You can choose between daily services on call. It hassle-free.
Experienced agencies help you with your transactions.

Features:

Opening an account:
You can open an account with us in the comfort of your home or office. Simply give us call or
contact bank online and executives will be there to help to open an account for you.

Pay Orders and Demand Drafts:

They can request for free delivery of pay orders and demand drafts at home or office (within city
limits of the bank branch in India). To add this local, pay orders and draft drawn on own
branches are now issued free of cost on various accounts and charged nominally on some.

Cheque pick -ups:

Indicate the address (within city limits of the bank branch in India) from where you need to have
a cheque picked up and our executives will be there for you.

TERMS AND CONDITIONS FOR DOORSTEP

BANKING SERVICES OFFERED BY ICICI BANK

These terms and conditions (hereinafter referred to as “Terms and Conditions”) apply to and
regulate the provision of doorstep banking services offered by ICICI Bank Limited for ‘pickup
and delivery’ of cash, cheques, demand drafts and business banking documents (hereinafter
referred to as "Services") by accepting the Instructions.

1. In these Terms and Conditions, the following words and phrases have the meaning stated
here under unless indicated otherwise:

"Account" refers to the current account of the account holder with ICICI Bank in India, which is
designated as eligible account by ICICI Bank for the purposes of availing the aforesaid
Services.

"Client" refers to a person/entity referred to in the Enrollment Form having an Account with
ICICI Bank and requesting for availing of the Services, which request has been accepted by
ICICI Bank.

“Enrollment Form” shall mean the service request form to be provided by the Client for
availing the Services from ICICI Bank in the form and manner prescribed by ICICI Bank.

"ICICI Bank" refers to ICICI Bank Limited, a company incorporated under the Companies Act,
1956 and licensed as a bank under the Banking Regulation Act, 1949 and having its registered
office at Landmark, Race Course Circle, Vadodara 390 007 and corporate office at ICICI Bank
Towers, Bandra Kurla Complex, Mumbai 400 051.

"Instruction" refers to the requests and/or instructions for pick-up and/or delivery of cash,
cheques, demand drafts and documents relating to banking business as may be sent by the
Client to ICICI Bank through telephone, facsimile or an e-mail transmission.

“Website” refers to www.icicibank.com, which is owned, operated and maintained by ICICI

Bank.

2. The Client acknowledges and agrees that the Instructions for: i. Delivery of cash, demand
drafts and/or banking business documents to the Client and ii. Pick-up services for cash,
cheques, demand drafts and/or banking business documents may be undertaken by ICICI Bank
if the Instruction is made as per the procedure specified on the Website as may be updated
from time to time.. The Client must ensure that every Instruction to be sent through facsimile or
an email transmission is sent on ICICI Bank’s printed form (if any) applicable to the particular
transaction and account at the time. If an Instruction is sent by the Client through facsimile or an
e-mail transmission, otherwise than on ICICI Bank's printed form and is accepted by ICICI Bank,
such Instruction shall be subject to the terms and conditions specified on ICICI Bank’s printed
form.

3. The Client agrees and undertakes to duly comply with its obligations in terms of the
processes detailed on the Website, and to duly remit the payments for the Services as detailed
in the Enrollment Form.

4. The Client agrees and understands that ICICI Bank shall act upon the Instructions only if in
the opinion of concerned officer of ICICI Bank such Instructions are clear and unambiguous.
The decision of the officer of ICICI Bank whether any such Instructions are clear and ambiguous
or not and all actions of ICICI Bank thereof shall be conclusive and binding on the Client. This
clause shall not preclude ICICI Bank from exercising its absolute discretion to act or not to act
on any or all Instructions.

5. The Client agrees and acknowledges that transmission of information through telephone,
facsimile and/or e-mail is not a secure means of sending information and may be subject to
tampering and unauthorized access, fraudulently or mistakenly written, altered or sent, and not
be received in whole or in part by the intended recipient, which may include but not limited to:
i. The Instructions being fraudulently written or altered.
ii. The Instructions reaching ICICI Bank in jumbled state or in a manner or shape that it may be
misunderstood.
iii. The facsimile machine, telephone or computer through which the Instructions are received
by ICICI Bank being unattended to at the time of receipt of Instructions and/or the Instructions
being received by ICICI Bank only partially. iv. There may be a mistake in understanding the
message.

6. The Client shall continue to be bound by all or any action of ICICI Bank in complying with the
Instructions even if such Instruction has been countermanded by a subsequent Instruction or
any written order or direction of the Client, if ICICI Bank has already commenced acting upon
the first of such Instructions (without prejudice to it having received and acted upon a
subsequent Instruction or written order or direction) or even if the mode of receiving such
Instructions has been discontinued or suspended.

7. ICICI Bank shall not be liable for

(1) Any inaccuracy, error or delay in, or omission of,
(i) Any data, information or message in the Instruction, or
(ii) The transmission or delivery of any Instruction; or

(2) Any loss or damage arising from or occasioned by

(i) Any such inaccuracy, error, delay or omission,
(ii) Non performance, or
(iii) interruption in any such data, information or message, due either to any act or omission by
ICICI Bank due to failure of operational systems or any requirement of law or any internal policy
of ICICI Bank or due to “force majeure” (e.g., flood, extra ordinary weather condition,
earthquake or other act of God, fire, war, insurrection, riot, labour dispute, accident, action of
government, communications, power failure, equipment or software malfunction) or any other
cause beyond the reasonable control of ICICI Bank, or
(iv) Tampering of and/or unauthorized access to the Instruction,
(v) Instructions that are fraudulently or mistakenly written, altered or sent or
(v) Instructions that are not received in whole or in part by the intended recipient.

8. The Client agrees that ICICI Bank shall not be liable if: i. The Client has breached any of the
Terms and Conditions, contained herein or ii. The Client has contributed to or the loss is a result
of failure on part of the Client to advise ICICI Bank within a reasonable time about unauthorized
access of or erroneous transactions in the Account by use of the Services; The Client agrees
that ICICI Bank may at such times as ICICI Bank may deem fit, request the Client to approach
ICICI Bank Branch with the acknowledgement provided by the agent to the Client at the time of
the execution of the Instruction.

9. ICICI Bank may, at its sole and absolute discretion, act on any request or Instruction made
by the Client to ICICI Bank, or which ICICI Bank reasonably believes to have been made by the
Client.

10. The Client agrees and acknowledges to waive off its ‘right to claim’ for the Services to be
provided at its doorstep. Further, without limiting the generality of the foregoing, ICICI Bank shall
not be deemed to have accepted any Instruction unless and until ICICI Bank receives the
complete Instruction on a business day and during the normal business hours of ICICI Bank in
accordance with the procedure specified on the Website as may be updated from time to time.

11. The Client is responsible for the accuracy and authenticity of the Instructions. ICICI Bank
shall not be required to independently verify the veracity, authenticity or validity of the
Instructions. ICICI Bank shall have no liability if it does not or is unable to stop or prevent the
carrying out of or the execution/implementation of an Instruction that is subsequently
countermanded by the Client. Where ICICI Bank considers the Instructions to be inconsistent or
contradictory it may seek clarification from the Client before acting on any Instruction of the
Client or act upon any such Instruction as it deems fit. ICICI Bank has no liability or obligation to
keep a record of the Instructions to provide information to the Client or for verifying Client's
Instructions. ICICI Bank may refuse to comply with the Instructions without assigning any
reason or notice and shall not be under any duty to assess the prudence or otherwise of any
Instruction and have the right to suspend the operations through the Services or carrying out of
Instructions if it has reason to believe that the Client's Instructions will lead or expose to direct or
indirect loss to ICICI Bank, or ICICI Bank may require an indemnity and/or other
security/comfort from the Client before continuing to restore/perform the Services and/or
Instructions.

12. ICICI Bank shall be responsible for any loss caused to the Client on account of gross
negligence or willful misconduct of the Agent appointed by ICICI Bank while providing the
Services to the Client.

13. The Client acknowledges and agrees that the Instructions for the Services shall be
processed by ICICI Bank only if the same are received by ICICI Bank in the prescribed time and
manner. The Client agrees and acknowledges that the Services shall be provided by ICICI Bank
at the communication address of the Client available with ICICI Bank at the time of the Client
applying for availing the Services. In case of any request provided by the Client for getting the
communication address changed in the records of ICICI Bank in a manner as may be
prescribed by ICICI Bank, such changed communication address shall be used by ICICI Bank
for providing the Services to the Client.

14. The Client agrees, confirms and undertakes to pay to ICICI Bank such
charges/fees/expenses as may be notified to the Client by ICICI Bank at its sole discretion from
time to time for organizing/providing the Services. The Client further agrees and confirms that
the acknowledgement and confirmation receipt to be furnished by the Client to the agency
would be a final and binding acknowledgement and confirmation of receipt of documents,
demand drafts and/or cash by the Client.

15. Without prejudice to anything contained in clause 12 above, the Client agrees,
acknowledges and undertake that the Services proposed to be offered by ICICI Bank should be
construed as mere extension of the banking services offered at any of its branches and the
liability of ICICI Bank is limited to the extent as if the transaction is/was conducted at the ICICI
Bank Branch.

16. The Client confirms that ICICI Bank is authorized to debit the Clients' account with amounts
in pursuance to any Instructions under the Services not withstanding any other requirement
contained in any law and practice including but not limited to Negotiable Instrument Act, 1881.

17. In case the Client is sending an important business banking document to ICICI Bank it will
be the responsibility of the Client to write an e-mail to ICICI Bank at the email address as
communicated by ICICI Bank from time to time, mentioning the details of business banking
documents sent and the DB Reference number assigned to the Client by the pick-up agency.
This would caution the branch to expect the document, and in case the document does not
reach the branch, the branch would follow up with the pick-up agency and confirm the status. In
case the Client does not write the e-mail to ICICI Bank, ICICI Bank shall not be responsible for
loss of such business banking documents.

18. Under no circumstances, shall ICICI Bank, its employees, directors involved in providing the
Services be liable for any direct, indirect, incidental, special or consequential damages, or any
damages whatsoever, including punitive or exemplary (including, but not limited to loss of
profits, loss of data or other intangible information, business interruption, loss of privacy, or any
pecuniary loss), arising out of or in any way connected with the provision of the Services
resulting from unauthorized access or alteration of Instruction or arising from interruption,
suspension or termination of the cash/cheque collection and delivery services or any inability of
ICICI Bank to receive instructions, directions, orders or other communications from the
Customer or to transmit any related message for any reason whatsoever, whether based on
contract, tort, strict liability or otherwise except in case of willful default or gross negligence on
the part of ICICI Bank. Provided that not with standing anything to the contrary contained herein,
the aggregate liability of ICICI Bank under this arrangement shall not exceed the service
charges received by ICICI Bank from the Client under the Services.

19. The Client hereby indemnifies and agrees to keep ICICI Bank indemnified against all and
any costs, losses, damages, expenses (including all legal expenses on a full indemnity basis) or
other liability sustained or incurred by ICICI Bank as a result of ICICI Bank accepting and acting
on an Instruction given or deemed to have been given or purportedly given by the Client,
including but not limited to the Client, handing over self/ bearer cheques to the cheque pick-up /
delivery agency appointed by ICICI Bank in lieu of the cash delivered to the Client premises
without ensuring that the “Paid” stamp of the cash delivery agency is affixed on the cheque in
the Client’s presence
20. The Client hereby authorizes ICICI Bank to charge the account held with ICICI Bank to the
extent of all outstanding dues arising as a result of or in connection with the Services.

21. The Client agrees to comply with such security procedure as may be prescribed by ICICI
Bank from time to time for sending Instructions. The Client undertakes not to disclose the
security procedure to any person except to its authorized representatives. If the Client or one of
the Client’s authorized representatives is of the opinion or has reason to believe that the
authentication procedure may be known by an unauthorized person, the Client must notify ICICI
Bank immediately.

22. If ICICI Bank receives an Instruction that purports to have been transmitted or authorized by
the Client, one of the Client’s authorized representatives or any other person and the Clients
current authentication procedure has been used: · ICICI Bank may rely on that Instruction and
shall not be obliged to make any verification for authentication purposes; and · Such Instruction
will be deemed effective as a valid Instruction by the Client

23. The Client undertakes to confirm in writing every Instruction (by sending the original
physical copy of the Instruction to ICICI Bank). The Client hereby authorizes that ICICI Bank
shall be absolutely entitled to accept and act on an Instruction prior to receiving written
confirmation from the Client and that any action taken in pursuance of the Instruction shall be
valid even if such written confirmation is not received by ICICI Bank.

24. At anytime, ICICI Bank may give notice to the Client, in such manner as it may deem fit,
that it shall not accept further Instructions and such notice shall be deemed to be effective
against the Client on receipt of the same. A Client shall be deemed to have received such notice
immediately in case ICICI Bank sends the notice through facsimile or e-mail transmission or
after two (2) days if such notice is sent by post/courier.

25. ICICI Bank reserves the right to charge and recover from the Client fees along with
applicable taxes for availing the Services at any time as it may deem fit. Failure to pay the
charges/fees (including applicable taxes) on or before the specified date will render the Client
liable for payment of interest at such rate as may be stipulated by ICICI Bank and/or withdrawal
of the Services without any liability to ICICI Bank.

26. The Services provided to the Client is not transferable under any circumstance and shall be
used only by the Client. However, ICICI Bank shall have the right to transfer, assign or sell all its
rights under these Terms and Conditions. These Terms and Conditions shall continue to be in
force and effect for the benefit of the successors and assigns of ICICI Bank.

27. ICICI Bank shall have the absolute discretion to amend or supplement any of the Terms
and Conditions, features and benefits offered on the Services including, without limitation to,
changes which affect charges or rates and methods of calculation at any time. The Client shall
be liable for all charges incurred and all other obligations under these revised Terms and
Conditions until all the amounts under the Services so provided by ICICI Bank are repaid in full.
ICICI Bank may communicate the amended Terms and Conditions by hosting the same on its
website or in any other manner as decided by ICICI Bank, which amended terms will be binding
on the Client. The Client shall be responsible for regularly reviewing these Terms and
Conditions including amendments there to as may be posted on the website of ICICI Bank and
shall be deemed to have accepted the amended Terms and Conditions by continuing to use the
Services.

28. ICICI Bank may, at its discretion, withdraw temporarily or terminate the Services, either
wholly or in part, at any time without giving prior notice to the Client. ICICI Bank may, without
prior notice, suspend the Services at any time during which any maintenance work or repair is
required to be carried out or in case of any emergency or for security reasons, which require the
suspension of the Services. ICICI Bank shall endeavour to give a reasonable notice for
withdrawal or termination of the Services. At anytime, ICICI Bank may give notice to the Client,
in such manner as it may deem fit, including but not limited to, posting the notice on its website
at www.icicibank.com, that it shall not accept further Instructions. Without prejudice to anything
contained above ICICI Bank may suspend or terminate the Services without prior notice if the
Client has breached these Terms and Conditions or ICICI Bank learns of the death, bankruptcy
or lack of legal capacity of the Client.

29. These Terms and Conditions shall be governed by the laws of India. The parties hereby
agree that any legal action or proceedings arising out of the Terms and Conditions shall be
brought in the courts or tribunals at Mumbai in India and irrevocably submit themselves to the
jurisdiction of such courts and tribunals. ICICI Bank may, however, in its absolute discretion,
commence any legal action or proceedings arising out of the Terms and Conditions in any other
court, tribunal or other appropriate forum, and the user hereby consents to that jurisdiction. Any
provision of the Terms and Conditions which are prohibited or un-enforceable in any jurisdiction
shall, as to such jurisdiction, be ineffective to the extent of prohibition or un-enforceability but
shall not invalidate the remaining provisions of these Terms and Conditions or affect such
provision in any other jurisdiction.

30. All transactions under the Services effected by or through facilities for conducting remote
transactions including the internet, world wide web, electronic data interchange, Tel -service
operations (whether voice, video, data or combination thereof) or by means of electronic,
computer, automated machines network or through other means of Tele-communication,
established by or on behalf of ICICI Bank, for and in respect of the Services, shall constitute
legally binding and valid transactions when done in adherence to and in compliance with these
Terms and Conditions.
 PROCESS GUIDELINES AND INSTRUCTIONS

1. You (or persons authorized by you) shall contact ICICI Bank for the pickup/delivery of
cash/cheque/documents pick-up and ascertain about the services, if any. ICICI Bank may
appoint independent service providers who/which would act as its agents for
collecting/delivering cash/cheques/DD/banking business documents, i.e. an agency or a courier
company.

2. You may avail of the facilities specified at such branches only where you have an account.
The cash/cheque pick-up and cash delivery facility will be offered only at the city where your
account is located; however, ICICI Bank may at its discretion extend the facility to you at other
locations as well.

3. ICICI Bank, through the agency, will provide a photocopy of identity cards of the staff of the
cash pick-up agency who/which will be carrying out the process of cash collection from you
before commencing the pick-up services.

4. Door step pick- up of banking documents and delivery of the relevant deliverables would be
available at locations where ICICI Bank is able to make suitable arrangements for the same.

5. In cases, where you are sending some important banking business documents through the
pick-up agency, you should retain Doorstep Banking Reference number assigned to you by the
pick- up agency, for all future communications.
6. This would help the Branch, in case the document does not reach branch, the Branch would
follow up with the pick- up agency and check on the same.

7. PAN details will have to be mandatorily mentioned on deposit slip for all cash deposits in
excess of Rs.50, 000.

PROCESS FOR CASH PICK-UP (BEAT and ON CALL

REQUEST)

1. As intimated in letter of intent, the agency would get in touch with local office of the Customer
to conduct trial run. During trial run agency would provide scratch card booklet, deposit slips (3
ply for direct Customers and 4 ply for CMS Customers) authorized list of custodians and decide
upon a mutually comfortable time for cash pick-up.

2. Customer should use special cash deposit slips.3 ply for non- CMS customer and 4 ply for
CMS customer), as provided by ICICI Bank for deposit of cash through the cash pick-up
services of ICICI Bank. These slips help in providing MIS to Customer. In case the same is not
used and cash is deposited directly by any other mode to ICICI Bank, the agreed charges would
be levied. In case of Customer on ERP/ SAP platform, deposit slips generated from their system
can be accepted only after sign off from the product team. The team would ensure that such
deposit slips are in line with existing deposit slips in terms of nomenclature and content to avoid
data entry error at the Branch.

3. Agency would explain the processes related to scratch cards. The scratch card booklet
(Customer’s Copy) provided to Customer is on a monthly basis (one booklet for each location
for collection once a day). Each leaf in the booklet bears a serial number visible on left side top
of the scratch card and a hidden random number, which can be seen only after scratching the
paint on the card. The cash pick-up agency would maintain a duplicate of the same booklet
(Agency’s Copy) with corresponding serial number. The scratch card is replenished directly by
the cash pick-up agency.

4. Cash Pick- up from the clients will not happen beyond 5:00 p.m. Cash pick-up will be
provided only on working days. However, in exceptional case and on a case to case
arrangement, pick- up on Sunday or holiday may be provided to Customer at Currency chest
locations and where the agency has vaulting facilities. In the event of exceptional pick- ups done
after 5:00 p.m. or on Sundays / holidays the credit would be given to the Customer on the next
working day.

5. For pick- ups done on Saturdays, credit to Customers account would be affected to the
Customer account on the same day on best efforts basis or immediately next working day.
 6. Customer’s representative should fill in the deposit slip details, sign it and keep the deposit
slips ready before arrival of agency officials. Customer shall keep the entire cash denomination-
wise duly counted in packets of 100, packed with note slips. The deposit slips to be used will be
the special deposit slips provided by ICICI Bank for this purpose and the number of notes and
the total amount in such packets shall be mentioned on the deposit slips. Coins should be kept
ready in packets of 100 each. Loose coins will not be accepted.

7. Customer shall separately pack loose currency with the note slips, stamp, signature and date.
The number of notes in such packets shall be mentioned on the note slips.

8. Customer to ensure that notes should be as per clean note policy of RBI , neither stapled
nor cello tapped.

9. Customer will check the ID card of the agency personnel collecting the cash with the list
given during dry run.

10. At the time of pick-up execution, the cash pick-up agency, on reaching Customer’s office,
shall carry a leaf from the scratch card booklet held by them at their office, containing the same
serial number as that available with Customer in their booklet (Agency’s Copy). Customer shall
also takeout the same serial numbered leaf from the booklet available with them (Customer’s
Copy). If the hidden number in the scratch card matches (after scratching both the leaves) then
only, cash is handed over to cash pick-up agency.

11. In exceptional cases and if agreed with customer and agency, agency may count cash at
Customer premises if the customer provides cash counting machine. Else, the agency person
will only count the number of packet. But loose notes would be fully counted at the customer
premises. Charges for counting at Customer's premises will be as per the agreement.
Shortages if any found in cash counted at Customer premises, at later stage shall be recovered
from the service provider. Process and pricing agreed for cash counting and / or verification at
Customer's premises to be separately signed off by business, product and operations through I
Memo.

12. The notes would be collected in a tamper proof bag provided by the agency, sealed and
then seal applied on the bag. The seal would bear a serial number. The Customer’s cashier
should mention this number on the cash deposit slips. One acknowledged copy of the deposit
slip signed by the Customer will be put in to this sealed bag.

13. Normal window for cash pick-up is approximately 10 minutes per location except for cases
where agency counts cash at Customer’s location. If however, the cash pick-up agency is made
to wait beyond 10 minutes in a location unreasonably, then Customer will be charged additional
amounts for the delay as agreed with the Customer.
14. Some Customers may be located at airports or shopping malls where the pick- up agency
has to incur additional parking charges. Such charges will be in turn recovered from the
Customer.

15. The custodians to ensure that deposit slips filled by the Customer is duly complete in all
respects (account number / codes are mentioned, amount in figures and words should tally with
the physical cash, service provider stamp with date and signature should be clear, Customer
signature. PAN details if required can be mentioned in the “additional information” field till the
deposit slip gets amended to have “PAN detail” field.

16. After the process is complete, the Service Provider’s custodian stamps on the Agency’s
Scratch Card and then the scratch cards are exchanged. The agency also acknowledges
deposit slip with the stamp “On behalf of ICICI Bank” and hands over Customers copy to the
Customer. Normally Customers would fill only one deposit slips under the arrangement but in
case of pick- ups after Sunday or holidays, Customers may fill more than one deposit slips for
each day.

17. For locations where overnight vaulting is not done by agencies, the process would be as
under:
a. At the Bank’s branch, before opening the bag, the Bank’s branch cashier would scrutinize
that the bag and the seal is not tampered with and are intact. He would also verify that the
number on the seal is same as the one mentioned on the deposit slips.
b. This seal would be opened by the cashier of Bank Branch only. These seals are tamper
proof and if tampered with, the cashier at Bank branch would know it at once and decline
acceptance of cash.
c. The branch cashier would count the notes. In case of shortages, the Service Provider would
be held responsible wherever the cash has been counted at Customers premises. Incase
discrepant notes are identified, Customer would be informed of the same for debit to their
account, through FCRM. Such discrepant notes would be treated in line with RBI guidelines.

18. For locations where overnight vaulting is done by the agencies, the process would be:
a. The cash agency's cashier would open this bag under surveillance at the agency processing
hub. For the packated cash, agency will m count and verify and incase of any discrepancy will
inform the designated branch regarding the same. For any shortage in loose cash the agency
will be responsible. After counting and verification at agency’s premises, cash will be merged in
bundles of 1,000 notes comprising 10 packets, each of 100 pieces, denomination-wise and
submitted at the ICICI Bank Currency Chest. ICICI Bank Currency Chest will provide an
acknowledgement for the merged cash received and balance fractional cash will be deposited
by agency at Coordinating Branch.
b ICICI Bank cashier at the Coordinating Branch will check the acknowledgement for the
merged cash deposited at the Currency chest and will accept the fractional cash along with the
deposit slip from the cash agency and pass the relevant system entries. In case of any
discrepancy reported by agency, branch will debit the Customer’s account and mark the same
in FCRM.
 19. For the cash being counted at the customer’s premises, any shortage found in a particular
packet after the cash is being picked up will not be the customer’s responsibility. Within 7
working days from identification of discrepancy, agency will be informed by the Branch. It would
be debited to agency’s current account with ICICI Bank, opened for this purpose only, if the
discrepancy is not closed within 2 working days of intimation. ICICI Bank will not be responsible
for any loss to the agency, on account of this discrepancy.

20. The Service Provider would provide daily MIS to the Coordinating Branch and enter the
days pick-up data into FCRM one hour before closure time of the respective branch. All MIS and
information to branch should be sent at least one hour before branch closure time. The
agencies should be informed of the respective closure times in advance to avoid confusion /
exceptions handling. Corporate coordinator of the agency will also send a consolidated MIS for
Previous Day transactions on daily basis to DRO team at Chandivali.

21. The entries passed at the Branch would be for gross pick- up amount and separate entry
would be passed for reversing the amount of discrepancies.
22. Points to be taken into consideration for day-to-day operations:

a. Cash will be collected from Customer up to 5:00 p.m. or beyond that in exceptional cases
and if agreed.
b. Branches will accept the cash / MIS one hour prior to branch closure timings. In case of any
problem like system being down or power failure the local branch shall coordinate with other
branch to effectuate timely acceptance of cash. Branch will follow process as followed under
BCP situations.
c. While depositing cash in the Branch agency custodians will take 1 DQM slip only.
d. Branch will acknowledge on each deposit slip.
e. Enhancement of cash pick-up limit for any Customer/location to be send to DRO team one
day prior. For limit enhancement, Customers would mark a mail to SM. In case there is a need
for limit enhancement on the day of pick- up, it would be done only after seeking an acceptance
from agency for the same.
f. Branch can carry out the rectification, of an error reported by agency in cash pick- up done by
them. g. SM / PSM / Business Group to check the following before entering into an agreement
with the Customer for Doorstep Banking services:
• Whether ICICI Bank has its presence or not. If yes DRO to identify Coordinating Branch in
consultation with CSBB
. • For CMS customers whether branch is CMS enabled or not.
• Distance from the Customer location to branch to be checked for remote locations.
• For certain corporate relationships, the business, product, DRO representatives (CM II or
above) and agency may agree for counting and verification at Customers premises itself, for an
additional cost. The same shall commence only after a positive cost benefit analysis by
business group independently for this arrangement and approval through I memo as mentioned
above. h. At ICICI Bank RPC(Regional Processing Center) locations cash pickups being high
in number, CMS entries in system would be done by RPC as mentioned below:
• Upon receipt of MIS from the agency branch marks the gross entry into agency’s vault
account and CMS office pool account
• Branch provides I Core transaction ID through mail confirmation to its mapped RPC
• RPC will upload the data in CMS System via upload functionality and verify the transactions
• On the next day vendor brings deposit slips to RPC. RPC cross checks the slip details with
Previous Days MIS

• Upon completion, RPC sends a confirmation mail to the Branch to nullify agency’s vault
account against actual cash receipt PROCESS FOR CHEQUE PICK-UP 1

PROCESS FOR CHEQUE PICK-UP

1. Customer has to adhere to the following guideline for availing the cheque pick-up facility.
2. Only account payee and non-negotiable cheques will be accepted by ICICI Bank.
3. ICICI Bank will advise the Customer confirming the date of commencement of the facility,
name of the cheque pick-up agency, contact person, telephone number of the cheque pick-up
agency and agency ID card copies any other detail as may be deemed necessary by ICICI
Bank. This will enable customer to directly call the agency for availing of the cheque pickup in
case the agency does not turn up for the services.
4. For on call requirements, customers will call-up the designated cheque pickup agency locally
to request for cheque pick-up. For all working days (Monday to Saturday) the request time will
be one day prior to the pick-up date (within business hours).
5. In case of cancellation of the request, the same needs to be intimated before 10: 00 a.m. on
the date of Cheque pick-up. However, if cancelled after the prescribed time then the Customer
will be charged.
6. No cheque pick-up facility will be available on Sundays and public holidays. For all working
days (Monday to Saturday) the request time will be one day prior to the pick-up date (within
business hours) and in line with respective branch’s closing time.
7. For cheque pick-up on beat basis the pick- up agency would visit the customer premises on
all working days.
8. Separate deposit slips should be used for depositing the local cheques and upcountry
cheques. The customer to keep the cheques and deposit slips ready duly filled when the agency
comes for pick- up.
9. At the time of cheque pick-up, the cheque pick-up agency personnel will give the
acknowledgment on behalf of bank and return the counterfoil to Customer.
 10. The agency would prepare a summary of all cheques collected from the customer during
the day, before handing them to RPC/ Branches. On receipt of cheques RPC / Branches would
acknowledge the summary sheet prepared by the agency.
11. Cheques will be sent for clearing / processing on the same working day only if the same is
received at branch at least an hour before clearing cutoff time. Clearing cut-off time for different
locations is different.
12. The returned cheques, along with return memo stating reason for return,would be sent to
Customer’s mailing address by post or courier as ICICI Bank may deem appropriate such that
ICICI Bank shall not be liable for thereturned cheque subsequent to the dispatch of the same.
The same can be handed over to the agency for onward return to Customer with an intimation
to the Customer.
13. The above process will be followed for non- CMS customers.

PROCESS FOR CASH DELIVERY (Multiple delivery through

Single request letter and Multiple cheques)

1. The Customer (Head/Main office) will send a single request for delivery of cash at multiple
locations through fax or e-mail (“Request”) along with one original cheque for each location,
each such cheque reflecting the amount of cash to be delivered at the location for which it is
being given, to ICICI Bank base/non- base branch (“Coordinating Branch”) one day prior to the
date on which the cash is to be delivered. The Request will contain the list of locations where
cash is to be delivered along with address of such locations, names of personnel of the
Customer authorized to collect cash at the respective location, amount of cash to be delivered
at respective location, details of cheque for each location, details of the account from which
debit is to be made and such other information as may be required by ICICI Bank from time to
time. The date on which cash is to be delivered shall be hereinafter referred to as the “Delivery
Date” and the day prior to the Delivery Date on which the Request is received shall be
hereinafter referred to as the “Previous Day”. The Customer shall ensure that the Request is
received by ICICI Bank before 2:00 p.m. of the Previous Day.

2. In case, the Request is received at the Coordinating Branch after 2:00 p.m. of the Previous
Day, the same will be processed one day after the Delivery Date. For Requests received before
2 :00 p.m. of the Previous Day, the Coordinating Branch will intimate the agency regarding the
Request through e-mail on the Previous Day.

3. The Customer shall ensure the following before making the Request:
a. The cheques are drawn as self-
b. The cheques are signed by the person authorized to sign the cheques on behalf of the
Customer (”Authorized Signatory”)
. c. The account payee crossing (if any) is properly struck out with full signature of the
Authorized Signatory next to such crossing.
d. The amount entered in figures and words are the same;
e. Full signature of the Authorized Signatory is drawn cheques; present wherever cancellations
or corrections appear on the cheques;
f. Cheque number and the account number on the cheques tally with the details mentioned in
the Request.
g. The cheques are current dated (any post-dated or stale cheques will not be honored).

4. Cancellation of the Request or any changes thereof, except any addition of location(s)
(where cash is to be delivered) outside the list of locations mutually agreed between ICICI Bank
and the Customer, shall be accepted only if such Request is received by the Coordinating
Branch one day prior to the Delivery Date. Any Request for addition of a new location, outside
the aforesaid list shall be accepted only if the same is given to the Coordinating Branch 48
hours before the Delivery date. None of the aforesaid Requests will be processed by ICICI Bank
unless the time lines stated above are adhered to by the Customer and ICICI Bank disclaims all
liability for the same.

5. The Coordinating Branch will send copies of the Request and the cheques (corresponding to
the respective location) to ICICI Bank’s branches situated at locations where the cash is to be
delivered (“Delivery Branch”) and will raise a service request to the Delivery Branch on the
Previous Day.

6. Upon receipt of the service request and copies of Request and cheques from the
Coordinating Branch, the Delivery Branch will debit the Customer’s account on the Delivery
Date, with the amount of cash that is to be delivered at various locations and inform the agency
to collect and cash from the Delivery Branch and deliver the same to such locations as intimated
by the Customer in the Request.

7. Upon receipt of intimation from the Delivery Branch, the relevant agency personnel
(“Custodian”) would approach the said branch for cash collection on the Delivery Date.

8. The Delivery Branch will hand over the cash in a sealed bag to the Custodian along with
scratch card, copies of the cheques corresponding to the locations where the Custodian has to
deliver cash and Request.

9. Once the Custodian reaches the location, as specified by the Customer in the Request,
he/she will check the identity of the authorized recipient of cash by his ID proof and tally the
same against the details stated in the Request and exchange the scratch card with him/her.
Once the aforesaid verification is done, The Custodian will handover cash to the authorized
person. In case the authorized person is not available, then the cash will not be handed over to
some other official of the Customer but will be returned to the Delivery Branch except when the
change of authorized personnel of the Customer for a particular location is intimated by the
Customer to ICICI Bank (in which case the aforesaid verification process will be carried out for
the new authorized personnel).

10. Upon delivery of cash, the authorized personnel of the Customer shall verify the sealed
envelope to check whether it is in fact and shall tally the seal number mentioned on the scanned
copy of the cheque with the one mentioned on the sealed envelope. If the sealed envelope is
found tampered with, the said personnel shall not accept the cash and return the same to the
Custodian. Once both the numbers are tallied, the authorized personnel shall open the seal and
count the cash in front of the Custodian.

11. The recipient of cash shall provide cash receipt acknowledgement on the Request by
signing and putting a stamp of “Cash Received” along with his/her name, signature and the
denomination and the number of currency notes received, in the presence of the Custodian. The
Custodian will hand over the cash receipt and acknowledged copy of the Request to the
Delivery Branch on the same day the cash is delivered to the Customer or the next day.
12. ICICI Bank will not be responsible for any shortage in the delivery, once the Custodian has
received the aforesaid acknowledgement.

13. The Coordinating Branch will send the original cheques to the respective Delivery Branch
along with copy of the Request.
1. The Customer (Head/Main office) will send a single request for delivery of cash at a single
location (“Location”) through fax or e-mail (“Request”) along with copy of the cheque reflecting
the amount of cash to be delivered at the Location, to ICICI Bank delivery branch (“Delivery
Branch”) one day prior to the date on which the cash is to be delivered. The Request will contain
the address of the Location, names of personnel of the Customer authorized to collect cash at
the Location, amount of cash to be delivered at the Location, details of the cheque provided,
details of the account from which debit is to be made and such other information as may be
required by ICICI Bank from time to time. The date on which cash is to be delivered shall be
hereinafter referred to as the “Delivery Date” and the day prior to the Delivery Date on which the
Request is received shall be hereinafter referred to as the “Previous Day”. The Customer shall
ensure that the Request is received by ICICI Bank before 2:00 p.m. of the Previous Day.
2. In case the Request is received at the Delivery Branch after 2: 00 p.m. of the Previous Day,
the same will be processed one day after the Delivery Date. For Requests received before 2 :
00 p.m. of the Previous Day, the Delivery Branch will intimate the agency regarding the Request
through e-mail on the Previous Day.
3. Customer shall ensure the following before making the Request:
a. The cheque is a self-drawn cheque;
b. The cheque is signed by the person authorized to sign the cheque on behalf of the Customer
(”Authorized Signatory”);
c. The amount entered in figures and words are the same;
d. Full signature of the Authorized Signatory is present wherever cancellations or corrections
appear on the cheque;
 PROCESS FOR CASH DELIVERY (Single delivery through
single request letter and cheque) PROCESS FOR PICK-UP
/DELIVERY OF BANKING BUSINESS DOCUMENTS

1. Customers have to adhere to the following guideline for availing the banking business
document pick-up / delivery service: ICICI Bank will advice Customer confirming the date of
commencement of the facility, name, telephone number and any other detail of the coordinator
as may be deemed necessary by ICICI Bank. This will enable Customer to directly call the
coordinator for availing of the pick- up / delivery services. The copy of the request letter will be
sent through fax to the designated branch and the pick-up agency latest by 9:00 a.m. on the
date of pickup/ delivery of the banking business documents.

2. Based on the information provided, Customer should contact the Bank in case of any
clarification required regarding pick-up or delivery of banking business documents.

3. ICICI Bank would appoint a courier agency to collect the documents from the designated
locations.

4. Once the service is commenced, timings would be fixed by the pick- up agency with
Customer for each location.

5. Each single Request should be handed over to the courier agent in a separate envelope.

6. The courier agent would affix a sticker on Customer’s acknowledgement copy. This sticker
would communicate the pick-up reference number to Customer for Customer’s future interaction
with ICICI Bank.

7. The courier agent would also paste a sticker on Customer’s outward register (if any) as an
acknowledgement.

8. Customers are requested to mention this reference number on all future communications
regarding that particular transaction.

9. Every document should carry a covering letter on the letter head of the Customer (format can
be as per the requirement of the Customer), which will mention details of all the enclosures.
 10. The deliverables (if any) against the above request letter would be delivered to Customer’s
address. It would be important that Customer acknowledges the receipt of the document by
signing against the above mentioned reference number on the receipt slip/courier run sheet.

11. The POD details will be available through DSB tracker.

FINAL DELIVERY/CLOSURE OF THE TRANSACTION

1. The deposit slips will reach the Branch on the next working days in the cases where
overnight vaulting facility is provided to the agency, in the other cases, it will reach to the Branch
on the same day.
2. The MIS to the Branch pertaining to the cash pick-up and deliveries done will be sent to the
reporting branches on the same day, wherein it has been agreed with the customers for day 0
credit and in cases where it has been agreed that the credit will be released on day one the MIS
will be received from the agency on the same day.

3. The cash pick-ups before 4:00 p.m. will be entered in FCRM application by the agency on
the same day before cut off time and the records will be updated. In cases where the
arrangement is day one and beyond, the Branches will credit the Cash Management services
collection pool account and enter the details in the CMS software for releasing the credit on
agreed arrangement.

4. The Branch will verify and confirm these records and the credits will be released to the
Customer account as per the agreed credit arrangement.

IMPORTANT INSTRUCTIONS

1. The documents should be kept ready for the courier person to pick- up the documents.

2. The deliveries would be made at the same address from where the Request was picked up
else extra charges would be levied for than same.
3. In case you need to pick-up the deliverables from the Branch yourself, the same would be
delivered against signature in the outward register at the Branch.

4. You should insist courier person to give DB reference sticker on acknowledgement copy with
you.

5. Your e-mail address should be mentioned on the request letter so that immediately on
delivery, you can be informed of the delivery details for their reference. Details to be filled in
Annexure I Note: ICICI Bank may modify the recognition protocol or any of the processes for the
facilities from time to time and shall endeavor to keep. You informed of the same.
a. Cheque number and the account number on the cheque tally with the details mentioned in
the Request; The cheque is current dated (any post-dated or stale cheque will not be honored).

6. Cancellation of the Request or any changes thereof, except any addition of location (where
cash is to be delivered) outside the list of locations mutually agreed between ICICI Bank and the
Customer, shall be accepted only if such request is received by the Delivery Branch one day
prior to the Delivery Date. Any request for addition of a new location, outside the aforesaid list
shall be accepted only if the same is given to the Delivery Branch 48 hours before the Delivery
date. None of the aforesaid requests will be processed by ICICI Bank unless the time lines
stated above are adhered to by the Customer and ICICI Bank disclaims all liability for the same.

7. The Delivery Branch will debit the Customer’s account on the Delivery Date, with the amount
of cash that is to be delivered at the Location and inform the agency to collect cash from the
Delivery Branch and deliver the same to the Location.

8. Upon receipt of intimation from the Delivery Branch, the relevant agency personnel
(“Custodian”) would approach the said branch for cash collection on the Delivery Date.

9. The Delivery Branch will hand over the cash in a sealed bag to the Custodian along with
scratch card, copy of the cheque and the Request.

10. Once the Custodian reaches the Location, he/she will check the identity of the authorized
recipient of cash by his ID proof and tally the same against the details stated in the Request and
exchange the scratch card with him/her. Once the aforesaid verification is done, The Custodian
will handover cash to the authorized person. In case the authorized person is not available, then
the cash will not be handed over to some other official of the Customer but will be returned to
the Delivery Branch except when the change of authorized personnel of the Customer is
intimated by the Customer to the Delivery Branch (in which case the aforesaid verification
process will be carried out for the new authorized personnel).

11. Upon delivery of cash, the authorized personnel of the Customer shall verify the sealed
envelope to check whether it is in fact and shall tally the seal number mentioned on the scanned
copy of the cheque with the one mentioned on the sealed envelope. If the sealed envelope is
found tampered with, the said personnel shall not accept the cash and return the same to the
Custodian. Once both the numbers are tallied, the authorized personnel shall open the seal and
count the cash in front of the Custodian.

12. The recipient of cash shall provide the original cheque and the cash receipt
acknowledgement on the Request by signing and putting a stamp of “Cash Received” along
with his/her name, signature and the denomination and the number of currency notes received,
in the presence of the Custodian. The Custodian will hand over the original cheque, cash receipt
and acknowledged copy of the Request to the Delivery Branch on the same day the cash is
delivered to the Customer or the next day.

13. ICICI Bank shall not be responsible for any shortage in the delivery, once the Custodian has
received the aforesaid acknowledgement.

15.SENIOR CITIZENS CAN AVAIL DOORSTEP

BANKING FACILITY DURING CORNAVIRUS
LOCKDOWN

Banks have to arrange pick up of cash or cheque and drop of demand drafts for senior citizens
and differently- able persons, as per RBI guidelines.

Senior citizens aged 70 or more can avail doorstep banking facilities even during corona virus
lockdown. As per the Reserve Bank of India (RBI) guidelines, banks have to arrange pick up of
cash or cheque and drop of demand drafts for senior citizens and differently-able or infirm
persons (having medically certified chronic illness or disability).

The central bank has advised banks to provide basic banking facilities, such as pick up of cash
and instruments against receipt, delivery of cash against withdrawal from account, delivery of
demand drafts, submission of Know Your Customer (KYC) documents and life certificate at the
residence of such customers.

These instructions were issued way back in 2017 after the RBI observed that banks were
discouraging or turning away senior citizens and differently- able persons from availing banking
facilities in branches.
Most of the leading banks, including SBI, PNB, Bank of Baroda, HDFC Bank, ICICI Bank, Axis
Bank, provide doorstep banking services facility to their customers.

 Coaxing Indian banks: RBI can't without government help

As per the information available on the country's largest lender State Bank of India (SBI's)
website, the lender offers doorstep banking (DBS) services to senior citizens and differently-
abled customers who have completed KYC process and have registered address within a radius
of 5 KMs from the home branch. The DSB service is available in savings bank/ current account
of resident individual customer only.

Doorstep banking service offered by the SBI include cash pickup, cash delivery, cheque pickup,
cheque requisition slip pickup, form 15H pickup, delivery of drafts, delivery of term deposit
advice, life certificate pickup and KYC documents pickup.

 RBI allows extension of NBFC loans to delayed commercial real estate projects
by 1 year

The customer can call up SBI toll free number 1800 111103 between 9 am to 4 pm on working
days through doorstep banking tab in YONO app. Under DSB services, the maximum limit for
cash transactions per day is Rs 20,000 for cash deposit and withdrawal, while minimum limit is
Rs 1,000. The service charges per visit for non-financial transactions is Rs 60+GST and Rs
100+GST for financial transactions.

16.POSTAL NETWORKS ARE FACILIATING

DOORSTEP BANKING DURING COVID-19

A. The case of India Post delivering cash in rural areas

The current lockdown situation has been challenging for all, and access to financial services
remains more difficult for some than others. Post offices now have an even more important role
to play for financial services delivery, especially for those living in remote areas and with poor
access to financial services. 

Most recently, the Times of India reported a surge in “doorstep banking” across the
country with citizens in rural areas still able to access financial services, such as cash
withdrawal and pension payments, even in the challenging lockdown circumstances. Between
24 March and 23 April, post offices in India delivered 412crore i.e. 4.1 billion Indian rupees (or
54 million US dollars) in over 2.1 million transactions, mostly in rural and unbanked areas. This
was done through a network of 136,000 post offices equipped with 186,000 hand held devices.
The numbers more than doubled in the next three weeks and 50 days of the lockdown marked
10 billion Indian rupees (133 million US dollars) in cash being delivered by postmen to
account holders at their doorstep.

The India Post Payments Bank uses its network of post offices and handheld devices to reach
out to customers all over the country. Regardless of the bank of which people are a customer,
they can call the local post office and receive cash delivery at short notice. Importantly, post
offices deliver services in the most remote locations, where there is no access to a nearby ATM
the post office’s handheld technology for remote and secure identification. The Times of India
article includes the experience of a villager in the state of Uttar Pradesh, living two km away
from the nearest ATM, and who quickly had to arrange 3,000 Indian rupees (40 US dollars) past
banking hours. Thanks to his local postmaster and the post office’s handheld technology for
remote and secure identification, the customer was able to receive the cash at his doorstep.

The growth of doorstep banking and use of available infrastructure such as post offices is
another example of how technology can be used for realizing last mile connectivity and financial
inclusion, also in the era of COVID-19. This development also reinforces the role that traditional
institutions such as post offices can play in the delivery of financial services. Our earlier paper
“Advancing financial inclusion through access to insurance: the role of postal networks”
covered the experience of numerous postal services worldwide in using business models for
postal insurance to foster financial inclusion through insurance access.

17.DOORSTEP BANKING HAD TRIPLED THE

SIZE OF THE BRANCH NETWORK -CASE STUDY

Direct sales agent provides the convenience of carrying out %90 of banking transactions at the
customer’s doorstep quickly and efficiently thanks to the tablet application while the customer
enjoys hassle-free banking experience.
A.8 Times Faster Loan Processing and 600,000 New Applications in 18 Months

One of the largest banks in Turkey in terms of customer numbers, VAKIFBANK aims at
leveraging savings to grow the country’s economy with modern banking practices. The bank is
focused on growing relationships through fast and local decision making that is focused on
customers instead of individual products. By deploying a tablet application to support its mobile
sales force, the bank has grown market share, gone completely paperless and increased the
speed of processes, such as loans by 8 times.

The bank is focusing on getting closer to its customers by adopting and implementing initiatives
such as doorstep banking to bring services to people’s homes and places of work. Doorstep
banking has emerged as an alternative to traditional approaches to maintain relationships with
its customers. Its Direct Sales Team (DSA) is an important piece of this puzzle and used to rely
on paperwork and manual data entry while lacking access to customer information or up selling
and cross-selling opportunities. By implementing a proactive approach, the bank has processed
over 600,000 new applications for different products, a customer segment that might otherwise
be left to the competition.

“We are now able to monitor, manage and support our sales agents and portfolio managers
visiting our clients more effectively. Our Agents aren’t waiting for local customers to come to the
branch occasionally. They’re going after these customers where they work and increase the
customer engagement.“ said MEHMET SERHAT KESKIN, CRM Manager at VAKIFBANK. “We
wanted to ensure transactions could be made without the need of visiting the branch. Now,
Direct Sales Team can deliver enhanced banking services across the country in line with our
vision. “We’re here-Where you need us to be.”

Once the direct sales agent’s appointment is set, the agent pays a visit to the customer.
Following the necessary security checks, the customer can do many banking transactions such
as personal loan application just with a digital confirmation.  Direct sales agent provides the
convenience of carrying out %90 of banking transactions at the customer’s doorstep quickly and
efficiently thanks to the tablet application while the customer enjoys hassle-free banking
experience. 

B. Dawn of a New Delivery Channel

When making technology investment decisions, VAKIFBANK relies on the strategic goal of
ensuring IT infrastructure supports its marketing efforts. To ensure that, it decided to start
providing direct sales team employees with tablet computers that would enable them to sell
products and give them with a single view of the customer while also providing the ability to
monitor employee performance.

After researching the market situation, VAKIFBANK found that VERIPARK had already worked
on similar projects and its approach to channel management in multichannel banking solutions
was a key selling point. “We were excited by a client looking at a new delivery channel for
banking services and were happy to work on the project,” said OZKAN ERENER, CEO,
VERIPARK . “We see this as the dawn and coming of new delivery channels, such as doorstep
banking and we are well positioned to provide the software and technology to support it.”
VERIPARK and VAKIFBANK worked together to develop an I-Pad application for the Direct
Sales Team. The application provides 360-degree view of the customer as well as a large
number of banking features and products. The team also focused on creating an offline mode
that makes it possible to save banking applications locally and then synchronize them to
banking systems later. The application also offers a task management system for direct sales
agents and location tracking to improve performance monitoring.

C. Tablet Application Covers 90% of all Retail Operations and Used by 2,400
Direct Sales Agents
The application is used by 2,400 VAKIFBANK employees all around the country. In addition to
improved information about customers, sales agents can now register new customers and offer
a large number of services and products such as consumer loan application, credit card
application, account opening and directing customers to use mobile and internet banking to
perform their banking transactions. Then I-Pad application covers about 90% of all retail
banking operations, meaning that banking is now really delivered to the customers’ doorstep.

Customers can now carry out their transactions instantly and without having to wait. This has
resulted in significant increase in customer satisfaction and productivity. Another important
factor driving customer satisfaction is the ability to communicate directly with sales agents &
portfolio managers. 

Digital approval is also an important aspect of the solution as it enables customers to use a web
browser or mobile phone to approve contracts for products, such as personal installment loan,
overdrafts and electronic tolls. Digital approval has increased the quality of services offered to
customers while the bank saves time and drives cross-selling efforts.

D.100% Digital Processes for Faster and Paperless Delivery of Services

The DSA application makes it is possible to assign location-based assignments to the field sales
teams and to enable the field sales personnel to move to the assigned locations and check the
assigned tasks effectively through the application check-in. Customer visits made by sales staff
can now be managed more efficiently resulting in performance gains and improved employee
satisfaction.

The solution meets the high security requirements of VAKIFBANK by using VPN connections
and encryption while also ensuring photos captured by tablet device are not stored locally to
prevent attackers from acquiring them. DSA application is integrated with the bank’s CRM and
DMS systems, loan and card systems and other transactional systems, ensuring it supports the
bank’s omni-channel delivery strategy. 

 
“DSA continues to contribute significantly to the profitability of our bank, delivering a return on
investment in a very short time,” said KESKIN. “The integration of technology in sales and
marketing activities has had a positive impact on our brand and has grown our retail banking
market share. DSA also drove digitalization of our retail loans, which are now 100% digital,
meaning that our retail loan process is 8 times faster and does not require paper anymore.

18. CONCLUSION
There is an increasing expectation from customers for better service from their banks. Doorstep
banking software has been built with an objective to provide support to any doorstep service
providers. A dynamic structure of each pick-up agencies their reporting branches and each
Customer is maintained.

 Bank is offering the DSBS to its customers (Individual / Non Individual Corporate) who
are interested to avail the said services, for pick up of cash and delivery of cash from the
door step of customer.

 The services are to be offered only to those customers in whose case proper KYC
procedures have been followed. The service should be offered either at the residence or
the office of the customer. Customers will be pre- resigned for this scheme. An
agreement will be entered into with customer.

The DSBS include:

(i) Pick up of Cash - Maximum Limit up to Rs. 2.00crores

(ii) Delivery of cash against cheques received at the counter or through Fax- Maximum Limit Rs.
50lacs.

(iii) Pickup instruments (like cheques, drafts/ Pay orders, dividend warrants etc. for clearing).
This shall be offered as a complimentary facility to customers simultaneously along with cash
pick up for which no charges to be paid.
THANK YOU