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Annexure A Operating Guidelines for Bank of Baroda Branches For Life Insurance

1. Lead Generation Bank staff is responsible for lead generation and soliciting life insurance business in following ways: a. Walk-in Customers: The branch staff (marketing official/relationship manager/ Specified Person) in the branch to interact with the walk-in customer by properly understanding the needs of the customer. This lead must get entered into CBS-CRM and shall be transferred to the Specified Person (SP) for Sales Closure. b. Other Customers of Bank: The lead shall be generated through data analysis and various transactions that the customers do through bank or by tele calling by the Specified Person. 2. Appointment Fixing and Lead conversion Once the lead is generated responsibility of lead conversion solely lies with the SP. The SP must fix an appointment with the customer. The meeting is important to ensure that the product is well understood by the customer. The appointment either shall be fixed at customers location or in the branch premises. 3. Product proposition: The SP must adhere to following steps of product proposition a. Customer Need Analysis: A proper customer need analysis must be done by the SP to ensure customer needs are understood and product proposition is accordingly done. b. Ability to pay future premiums: Before selling any regular insurance plan to the customer, it should be ascertained whether the customer is willing to pay future renewal premiums, and has the financial ability to meet periodic premium demands. c. Product AV/Flipchart: It is mandatory for SP to show the product Audio Visuals /Flipchart prepared by IndiaFirst to the customer so that all the features are carefully understood to avoid mis-selling. d. The customer shall not be pressurised for buying any insurance plan. 4. Application form filling and Documentation: The application form and documentation must be done carefully. Following steps must be followed in Application form filling and documentation. a. Explain the policy details to the customer for the specific plan which is being sold b. Fill up application form. i. Life Assured and nominee details must be captured correctly and photograph must be obtained. ii. Please see that customer declares the relevant information regarding his health and other details are captured correctly. iii. Please ensure to take correct contact number of the customer for verification call. iv. Agent confidentiality report (ACR) must be filled and signed by SP. c. Premium shall be collected only through the bank account of the customer either through cheque or debit voucher. d. Cash transactions are not permitted.

e. Use of internal account such as Sundry Deposit Account for issue of policies are strictly not allowed.
f. All the KYC documents like age proofs, identity proof, income proof, address proof must be seen in original by the SP before collecting the same. In case of customer having a bank account with Bank of Baroda a KYC certificate can also be issued. g. A scanned copy of the documents executed by the customer & photograph will be uploaded in Magicboard. h. Where annualized premium is equal to or greater than 1 lacs (100,000 & above) Please collect only standard income proof from the customer as mentioned below: Standard Income Proofs i. Form 16 ii. Income tax assessment orders iii. Income Tax Returns iv. Employers Certificate v. Audited Company accounts and Partnership Deed vi. Salary Slip (Electronic also accepted) vii. Audited Accounts of Sole Proprietary Firm/Partnership/HUF/Foundation/Trust/Society Where premium paid by the customer does not suffice with the income proof submitted by the customer Additional income proofs and information should be submitted to assess the exact source of income from where the insurance premium is paid. This may be in the form of (indicative list) viii. ix. x. xi. i. Fixed Deposit receipt copies where FD is closed for investing on insurance. Debentures and share instruments certificates redeemed. Documents establishing income from other sources. Land / property sale agreements.

Annual Income Vs Premium paid : For Regular Premium (any amount) - Any customer whose annual premium payable is more than 50% of disclosed annual income please collect additional documents to establish source of income to justify insurance premium paid. These documents may be in the form of standard income proof documents like ITR, Salary slips, Audited P&L, balance sheets etc. For large single premiums paid (Rs 100,001 and above), the source of income to pay such premium needs to be established with accumulated savings documents along with the income proof document submitted.

Such accumulated savings may be evidenced in the form of (indicative list) i. Fixed Deposit receipt copies where FD is closed for investing on insurance ii. Debentures and share instruments certificates redeemed iii. Documents establishing income from other sources. iv. Land / property sale agreements v. Agricultural Mandi receipts having income details pertaining to the financial year where insurance is applied. j. Medical Examination: The customer must be kept informed in advance of medical test to be conducted if applicable. k. Signature of the customer: Customers signature must be obtained at all the relevant places. l. The digital application form must be synced and premium receipt to be handed over to the customer.

5. Premium Debit through IndiaF module of CBS a. The cheque must be deposited in the IndiaFirst account same day through IndiaF Module in CBS only. b. All the details of the application as required by IndiaF module shall be filled in correctly. c. All the premium( fresh premium and renewal premium) must be paid only through customers account or cheque. d. No cash transactions are allowed either for first premium or renewal premium.

e. Use of internal account such as Sundry Deposit Account for issue of policies and paying renewal premiums are strictly not allowed. 6. Branches to maintain a register, at the Branch level. The format of register is as per Annexure C.

Annexure B Operating Guidelines for Bank of Baroda Branches For Mutual Fund
A. HOW TO FILL THE APPLICATION FORM: Fill up the Application Form in English in BLOCK LETTERS, using black or dark blue ink. Clearly fill the Bank of Broker Code, Sub Broker Code and Employee Code column. For existing Investment, Folio is a must. Hence, fill in the Folio No column. Occupation and Tax Status are mandatory fields. For example, if an investor is a proprietor, one has to tick proprietorship and Individual RI as an occupation and Tax status respectively. Fill in the mode of Holding. In case this is left blank, the default option which is Joint will be considered. Tampered application is liable to be rejected. Wherever there is a correction, the same needs to be signed by any holder in case of sole / anyone or survivor OR by all holders in case of Joint holding. All investors should mention name in full, without any abbreviation. The name should be exactly the same as it appears in the PAN and KYC. For NRIs overseas address is a must. We must ensure and encourage investors and BOB staff to capture Mobile Number, email ID. Bank Details o Always mention Bank account number in figures. o IFSC Code is a must which needs to be mentioned in the application form. (This will help in making redemption or dividend pay outs electronically by NEFT / RTGS). This will reduce any Returned / undelivered instruments. o Copy of the cheque leaf or cancelled cheque to be submitted along with the application. Nominee is a mandatory field and should not be left black. Application may be rejected in the event of keeping it blank. For further detail, you may refer to the nominee section in this manual. Signature should tally with the documents submitted along with the application form.

B. APPLICATION FORM COMPLETENESS VERIFICATION CHECK LIST 1. Preferably the common application form with pre-printed ARN may be used. If a form wherein the ARN is not pre-printed is used then Bank of Baroda branches may affix the seal of ARN code 35783 along with Name of Bank, Branch Alpha code at Sub broker code in the application form for Brokerage purpose. An EC Number of the employee at the Branch level for each BACE (Baroda AMFI certified employee) authorized to sell Mutual Funds is to be indicated in the column Employee code. 2. All relevant particulars are filled in / ticked in the form 3. Full name of each holder. 4. Full address. All details to be filled in Block letters: In Address field, Building, Road No, land mark, City and Pin Code is a must. RI. Indian address or NRI/FII. overseas address is mandatory. 5. Client email IDs / Mobile number must be encouraged to get updated. 6. Bank mandate The Cheque should be signed by the first unit holder. Cancelled cheque or copy of blank cheque with IFSC code is a must.

IFSC Code to be clearly mentioned in the application. Bank account No to be mentioned both in figures and words under Bank detail column (page no 2 of application form).

7. Bank mandate for Systematic Investment Plan (SIP) To date and From date is mandatory. Bank mandate mentioned in the Auto Debit form should be one and same as that mentioned in the application form and physical instrument (Cheque, DD). The Instrument amount and the amount mentioned in the application form should be same. Account type is a must on the Auto Debit Form. In case Auto Debit Form is signed by proprietor / Corporate Stamp of the entity is must. All investors who have signed on the application needs to execute the Auto Debit form. 8. Bank mandate for Systematic Transfer Plan (STP) From and To Schemes to be written properly. 9. Scheme name and plan /options to be clearly mentioned. Default Plan is Growth in case no option is specified. Default Option under Dividend Plan is re-investment in case no Option is specified 10. Scheme name mentioned in application should be same as mentioned in instrument (cheque). Default scheme would be the Scheme embossed on the instrument should be considered. 11. Nomination (Mandatory) Relationship between nominee and the investor. Date of Birth (DoB) is a must. Signature of Nominee / Guardian (in case nominee is a minor) is a must. If there are more than one Nominee ratio of percentage is must. Sole holder application without nominee will get rejected. 12. KYC documents to be in order. Refer KYC forms : Self authenticated zerox copy of PAN/KYC certificate. all documents to be self attested. all the mandatory documents need to be submitted as per the status. BoB can do IPV (In Person Verification). The person who is doing IPV, need to write his designation, employee code, Signature, Date For more detail, refer KYC forms. 13. KYC documents for Minor Investment KYC of guardian is mandatory, Date of Birth, Age proof and Relationship proof is a must. 14. KYC documents for Corporate investors Corporate documents Board Resolution(BR), Authorized Signatory List (ASL), MOA & AOA. 15. Payment Details for redemption/dividend purpose. 16. Mode of Holding. 17. Status. 18. Tax Status of the investor to be ticked properly. 19. Duly signed by investor/s ( all applicants in case of a Joint account). 20. Corrections or over writing are authenticated / counter signed by the applicant (all applicants in case of a Joint account). 21. For HUF, Karta stamp is affixed. 22. Investment for more than Rs 2 Lakh through RTGS, an RTGS letter from Bank is mandatory and UTR No. must be mentioned in the application form. 23. EUIN No of the employee should be mentioned in the form.

24. Use of internal account such as Sundry Deposit Account for issue of MF are strictly not allowed; 2

For Purchases:

1. Application amount meets the minimum amount criteria 2. For investments other than Micro SIP, Copy of PAN card & photocopy of KYC Certificate
must be attached with.

3. For Minor. Date of Birth and Guardians details. Signature of Guardian (and not of minor) is obtained on the form. 4. For Non Resident Indians. NRE status reflected on the face of the cheque. Attach Certificate from bank confirming NRI status of the customer. One Photo copy of the cheque and banks certificate. 5. For Corporate: Attach Board resolution. Articles of Association. Memorandum of Association. List of authorized signatories. 6. For Partnership / Society / Trust: Photo copy of Partnership / society /Trust deed attached 7. For additional purchases, correct existing folio number is mentioned on the form.
Cheque:

1. Separate cheques to be taken for separate application. 2. Cheques should be drawn by First Applicant on the same bank & account that
has been mandated in the application form.

3. Application no written on the reverse side of the cheque.


Mandatory Requirements: KYC (Know Your Customer) - A person investing in Mutual Fund must be PAN based KYC compliant. KYC is done by SEBI appointed KYC agencies such as NSDL etc. The customer must hold a Permanent Account No. (PAN) issued by income tax authorities. However, in case of Micro SIP (SIPs with yearly contribution aggregating not more than Rs.50, 000), the KYC without PAN is acceptable. The existing or new investors, who are not KYC compliant, can do so either separately or at the time of new investment by submitting KYC documents as listed below. The investors who are already KYC compliant (Mutual Fund KYC with CDSL); need not to submit any further KYC documents. They can submit only the self attested copy of KYC Certificate. Nomination. Nomination is mandatory in all mutual fund schemes. Bank Mandate. The cheque for investment should be signed by the First / Sole applicant. The cancelled cheque or copy of a blank cheque with IFSC code is a must. The cheque should be drawn on the same bank and account, which has been specified as the bank in the application form. KYC Documents:

Proof of Identity. any of the documents: UID(Aadhar); Passport; Voter ID; Driving Licence. Proof of Residence. any of the documents: Passport; Ration Card. Registered Lease/Sale agreement of rent; Voter ID Card; Driving Licence. Latest Bank account statement/pass book; Latest Electricity / telephone / gas bill etc.

A self attested copies by the applicant is must for above documents. NO KYC DOCUMENTS ARE REQUIRED IN CASE THE UNIT ARE REQUESTED BY INVESTORS FOR CREDIT TO DEMAT ACCOUNTS. As stated above, the investors who are already KYC compliant (Mutual Fund KYC with CDSL), need not to submit any further KYC documents. They can submit only the self attested copy of KYC Certificate. All photocopy should be in A4 size paper. The application received at the branches to be scrutinized to see that prima-facie it is in order. Elaborate guidelines have been given in the application form (Point A). The list of collection centres (Karvy Investor Service centres) / CAMS, where in the SIP applications can be forwarded along with the cheques is mentioned on the application form. Dispatch of account statements is done by Karvy-Hyderabad Back Office directly to Investors. In case of any query/complaint BOB branches can call the nearest BPAMC Office/Karvy Investor Service centre. Also Branches can also use Baroda Pioneer Toll Free No 1800-419-0911 for Investor Service for Baroda Pioneer Mutual Fund.

C. Branches to maintain a register, at the Branch level. The format of register is as per Annexure D

D. SUSPICIOUS TRANSACTIONS AND ANTI MONEY LAUNDERING Money laundering describes a number of techniques; procedures or processes in which funds obtained through illegal or criminal activities are converted into other assets in such a way as to conceal their true origin, ownership or any other factors that may indicate an irregularity. The main objective of money laundering is to legitimize income originating from these sources. The Prevention of Money Laundering Act, 2002 (PMLA) has come into effect from 1st July 2005.Necessary Notifications / Rules under the said Act have been published in the Gazette of India on 1st July 2005 by the Department of Revenue, Ministry of Finance, and the Government of India. In terms of the PML, the Rules issued there under and the guidelines/circulars issued by the Securities and Exchange Board of India (SEBI) and Association of Mutual Funds in India (AMFI) regarding Anti Money Laundering (AML Laws), all intermediaries, including mutual funds, have to verify and maintain records of all their investors through the mandated Know Your Customer (KYC) process with effect from February 01, 2008. Section 3 of the Prevention of Money Laundering Act 2005, describes the offence of money laundering: Whosever directly or indirectly attempts to indulge or knowingly assists or knowingly is a party or is actually involved in any process or activity connected with the proceeds of crime and projecting it as untainted property shall be guilty of offence of money laundering.

Customer Segments: The following customer segments are categorized into high risk categories. a. Non resident clients b. High networth clients, c. Trust, Charities, NGOs and organizations receiving donations d. Unlisted Companies e. Politically exposed persons (PEP) f. Companies offering foreign exchange offerings g. Clients in high risk countries h. Clients with dubious reputation as per public information available The Rule notified under the PMLA defines a Suspicious Transaction as a transaction whether or not made in cash which, to a person acting in good faith a) Gives rise to a reasonable ground of suspicion that it may involve the proceeds of crime; or b) Appears to be made in circumstances of unusual or unjustified complexity; or c) Appears to have no economic rationale or bonafide purpose. All those who are directly or indirectly dealing with the customers (read Investors) should be aware of the possibility of Money Laundering. In case of any suspicious activity that you may detect or that you believe may have happened in your area or of which you possess knowledge, you need to report it to your immediate reporting manager or, Mr Amitabh Ambastha (Principal Officer) or Ms Rashmi Pandit (Compliance Officer) or Mr Trevor Geroge (Sr Manager Human Resources). Please note that possessing knowledge of a suspicious activity and not reporting to the person / authority concerned shall be treated as fraud; hence it is for the benefit of employees and the organization to disclose such things immediately to all concerned. Allotment of Employee Unique Identification Number (EUIN) to the employees of Corporate ARN holders With reference to SEBI circular CIR/IMD/DF/21/2012 dated September 13, 2012, AMFI is required to create a unique identity number of the employee/ relationship manager/ sales person of the distributors interacting with the investor for the sale of mutual fund products, in addition to the AMFI Registration Number (ARN) of the distributor. Also, the application form for mutual fund schemes shall have a provision for disclosing the unique identity number of such sales personnel along with the ARN of the distributor. It has been cleared stated by AMFI that the Corporate ARN holders (read Bank of Baroda, among other Corporate ARN holders) cannot be paid commission for the business canvassed by them, if any, till the employees who are engaged in selling and marketing of mutual fund products are registered with AMFI and obtained EUIN. In light of the above, you may note that it is now mandatory to emboss the EUINs (in addition to ARN No, Branch Code & Employee Code) on each and every subscription applications (including additional purchase, Switches, SIPs)

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