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ACKNOWLEDGEMENTS

At the outset, I would like to express my deep gratitude to Mr. M. Santoshkumar for To
acknowledge is very great way to show your gratitude towards the persons who have
contributed in your success in one or other way.

allowing me to work under his guidance, thereby, giving me an opportunity to gain

tremendous knowledge and skills from his vast experience in banking sector.

I am also grateful to Mr.Purshottam Ramchandani without whose help, guidance,

valuable inputs and constant monitoring, my learning would have been incomplete.
Mrs.Nayana Madam and Mr. Vora with whom I interacted on a day-to-day basis and
have spent major tenure of my training and have gained a lot from their experience.

I am also sincerely thankful to my faculty guide, Mr. Hitesh Shukla for his guidance and
valuable suggestions during the entire course of training.

Date :

Place :

Yours faithfully,

(Parmar Minaxi. T. )

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 PREFACE

A person without practical knowledge is just like a rough diamond. To shine like a real
diamond one must have practical exposure of what he or she learnt. For the management
students, theoretical knowledge is just like lock without key, so practical knowledge is of
utmost importance.

It is quite true that world outside; your cozy home is many times quite different from what
you have perceived. Similarly it is possible that theoretical knowledge acquired in the
classroom may differ from the practical knowledge.

As a curriculum part of M.B.A. course, I have taken my practical training at INDIAN

BANK, RAJKOT.

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 DECLARATION

I Mrs. Parmar Minaxi student of M.B.A – Sem. IV hereby declare that the project work
presented in this report is my own work and has been carried out under
supervision and guidance of Professor Hitesh Shukla, Professor of Shri.R. D.
Gardi College, Dept. of Business Management, Saurashtra University, Rajkot.

The objective of the training undertaken is to know all the department of the organization
and to acquire practical knowledge in particular field.

This work has not been previously submitted to any other university for any other
examination.

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 HISTORY OF BANKING SECTOR IN INDIA

Without a sound and effective banking system in India it cannot have a healthy
economy. The banking system of India should not only be hassle free but it
should be able to meet new challenges posed by the technology and any other
external and internal factors.

For the past three decades India's banking system has several outstanding
achievements to its credit. The most striking is its extensive reach. It is no longer
confined to only metropolitans or cosmopolitans in India. In fact, Indian banking
system has reached even to the remote corners of the country. This is one of the
main reason of India's growth process.

The government's regular policy for Indian bank since 1969 has paid rich
dividends with the nationalisation of 14 major private banks of India.

Not long ago, an account holder had to wait for hours at the bank counters for
getting a draft or for withdrawing his own money. Today, he has a choice. Gone
are days when the most efficient bank transferred money from one branch to
other in two days. Now it is simple as instant messaging or dial a pizza. Money
have become the order of the day.

The first bank in India, though conservative, was established in 1786. From 1786
till today, the journey of Indian Banking System can be segregated into three
distinct phases. They are as mentioned below:

• Early phase from 1786 to 1969 of Indian Banks

• Nationalisation of Indian Banks and up to 1991 prior to Indian banking
sector Reforms.
• New phase of Indian Banking System with the advent of Indian Financial &
Banking Sector Reforms after 1991.

To make this write-up more explanatory, I prefix the scenario as Phase I, Phase II
and Phase III.

Phase I

The General Bank of India was set up in the year 1786. Next came Bank of
Hindustan and Bengal Bank. The East India Company established Bank of
Bengal (1809), Bank of Bombay (1840) and Bank of Madras (1843) as
independent units and called it Presidency Banks. These three banks were
amalgamated in 1920 and Imperial Bank of India was established which started

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as private shareholders banks, mostly Europeans shareholders.

In 1865 Allahabad Bank was established and first time exclusively by Indians,
Punjab National Bank Ltd. was set up in 1894 with headquarters at Lahore.
Between 1906 and 1913, Bank of India, Central Bank of India, Bank of Baroda,
Canara Bank, Indian Bank, and Bank of Mysore were set up. Reserve Bank of
India came in 1935.

During the first phase the growth was very slow and banks also experienced
periodic failures between 1913 and 1948. There were approximately 1100 banks,
mostly small. To streamline the functioning and activities of commercial banks,
the Government of India came up with The Banking Companies Act, 1949 which
was later changed to Banking Regulation Act 1949 as per amending Act of 1965
(Act No. 23 of 1965). Reserve Bank of India was vested with extensive powers for
the supervision of banking in india as the Central Banking Authority.

During those days public has lesser confidence in the banks. As an aftermath
deposit mobilisation was slow. Abreast of it the savings bank facility provided by
the Postal department was comparatively safer. Moreover, funds were largely
given to traders.

Phase II

Government took major steps in this Indian Banking Sector Reform after
independence. In 1955, it nationalised Imperial Bank of India with extensive
banking facilities on a large scale specially in rural and semi-urban areas. It
formed State Bank of india to act as the principal agent of RBI and to handle
banking transactions of the Union and State Governments all over the country.

Seven banks forming subsidiary of State Bank of India was nationalised in 1960
on 19th July, 1969, major process of nationalisation was carried out. It was the
effort of the then Prime Minister of India, Mrs. Indira Gandhi. 14 major commercial
banks in the country was nationalised.

Second phase of nationalisation Indian Banking Sector Reform was carried out in
1980 with seven more banks. This step brought 80% of the banking segment in
India under Government ownership.

The following are the steps taken by the Government of India to Regulate
Banking Institutions in the Country:

• 1949 : Enactment of Banking Regulation Act.

• 1955 : Nationalisation of State Bank of India.
• 1959 : Nationalisation of SBI subsidiaries.
• 1961 : Insurance cover extended to deposits.
• 1969 : Nationalisation of 14 major banks.
• 1971 : Creation of credit guarantee corporation.
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 • 1975 : Creation of regional rural banks.
• 1980 : Nationalisation of seven banks with deposits over 200 crore.

After the nationalisation of banks, the branches of the public sector bank India
rose to approximately 800% in deposits and advances took a huge jump by
11,000%.

Banking in the sunshine of Government ownership gave the public implicit faith
and immense confidence about the sustainability of these institutions.

Phase III

This phase has introduced many more products and facilities in the banking
sector in its reforms measure. In 1991, under the chairmanship of M
Narasimham, a committee was set up by his name which worked for the
liberalisation of banking practices.

The country is flooded with foreign banks and their ATM stations. Efforts are
being put to give a satisfactory service to customers. Phone banking and net
banking is introduced. The entire system became more convenient and swift.
Time is given more importance than money.

The financial system of India has shown a great deal of resilience. It is sheltered
from any crisis triggered by any external macroeconomics shock as other East
Asian Countries suffered. This is all due to a flexible exchange rate regime, the
foreign reserves are high, the capital account is not yet fully convertible, and
banks and their customers have limited foreign exchange exposure.

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 NATIONALISATION OF BANKING IN INDIA

Banking System in India is dominated by nationalised banks. The nationalisation

of banks in India took place in 1969 by Mrs. Indira Gandhi the then prime
minister. The major objective behind nationalisation was to spread banking
infrastructure in rural areas and make available cheap finance to Indian farmers.
Fourteen banks were nationalised in 1969. These Banks were
Before 1969, State Bank of India (SBI) was the only public sector bank in India.
SBI was nationalised in 1955 under the SBI Act of 1955.

The second phase of nationalisation of Indian banks took place in the year 1980.
Seven more banks were nationalised with deposits over 200 crores.

List of Public Sector Banks in India is as follows:

• Allahabad Bank
• Andhra Bank
• Bank of Baroda
• Bank of India
• Bank of Maharashtra
• Canara Bank
• Central Bank of India
• Corporation Bank
• Dena Bank
• Indian Bank
• Indian Overseas Bank
• Oriental Bank of Commerce
• Punjab and Sind Bank
• Punjab National Bank
• State Bank of Bikaner & Jaipur
• State Bank of Hyderabad
• State Bank of India (SBI)
• State Bank of Indore
• State Bank of Mysore
• State Bank of Patiala
• State Bank of Saurashtra
• State Bank of Travancore
• Syndicate Bank

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• UCO Bank
• Union Bank of India
• United Bank of India
• Vijaya Bank

HISTORY OF PUBLIC SECTOR BANK IN INDIA

Institutional credit support plays a catalytic role in accelerating the

pace of economic development of a country. In the context of
developing economy of India, bank finance plays a crucial role in
pushing the agricultural economy on to the progressive pathway and
helping develop rural India. Indian banking, appreciably, over the
years, has emerged from being a purveyor of credit to be an engine of
economic development. A historic review of the State Bank of India, a
giant among the public sector commercial banks, and the subsequently
in n ationalized commercial banks, reveals the emerging promising
trends in the deposit mobilization, deployment of credit with
developmental dimension added to it, prioritization of sectoral
financing and social responsibility assumed by the banks. Along with
promising trends in the progressive march of the public sector banks,
certain disturbing trends are notice. Hence, the vital importance of
making an in-depth study of the changing trends in the Indian public
sector commercial banks so that policy sector commercial banks so
that policy corrections can be made for enabling them play a more
effective developmental role in the context of resurgent national
economy of India.

Among the Public Sector Banks in India, United Bank of India is one of the 14
major banks which were nationalised on July 19, 1969. Its predecessor, in the
Public Sector Banks, the United Bank of India Ltd., was formed in 1950 with the
amalgamation of four banks viz. Comilla Banking Corporation Ltd. (1914), Bengal
Central Bank Ltd. (1918), Comilla Union Bank Ltd. (1922) and Hooghly Bank Ltd.
(1932).

Oriental Bank of Commerce (OBC), a Governmet of India Undertaking offers

Domestic, NRI and Commercial banking services. OBC is implementing a
GRAMEEN PROJECT in Dehradun District (UP) and Hanumangarh District
(Raiasthan) disbursing small loans. This Public Secotor Bank India has
implemented 14 point action plan for strengthening of credit delivery to women
and has designated 5 branches as specialized branches for women
entrepreneurs.

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The following are the list of Public Sector Banks in India

• Allahabad Bank
• Andhra Bank
• Bank of Baroda
• Bank of India
• Bank of Maharastra
• Canara Bank
• Central Bank of India
• Corporation Bank
• Dena Bank
• Indian Bank
• Indian Overseas Bank
• Oriental Bank of Commerce
• Punjab & Sind Bank
• Punjab National Bank
• Syndicate Bank
• UCO Bank
• Union Bank of India
• United Bank of India
• Vijaya Bank

List of State Bank of India and its subsidiary, a Public Sector Banks

• State Bank of India

o State Bank of Bikaner & Jaipur
o State Bank of Hyderabad
o State Bank of Indore
o State Bank of Mysore
o State Bank of Saurastra
o State Bank of Travancore

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 PROFILE OF INDIAN BANK

A premier bank owned by the Government of India

• Established on 15th August 1907 as part of the Swadeshi movement

• Serving the nation with a team of over 22000 dedicated staff
• Total Business crossed Rs. 76000 Crores as on 31.03.2007
• Operating Profit increased to Rs.1358.59 Crores as on 31.03.2007
• Net Profit increased to Rs.759.77 Crores as on 31.03.2007
• Net worth improved to Rs.3621 Crores as on 31.03.2007
• 1541 Branches spread all over India

International Presence

• Overseas branches in Singapore and Colombo including a Foreign Currency

Banking Unit at Colombo
• 240 Overseas Correspondent banks in 70 countries

Diversified banking activities - 3 Subsidiary companies

• Indbank Merchant Banking Services Ltd

• IndBank Housing Ltd.
• IndFund Management Ltd

A front runner in specialised banking

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 • 90 Forex Authorised branches inclusive of 1 Specialised Overseas Branch at
Chennai exclusively for handling forex transactions arising out of Export, Import,
Remittances and Non Resident Indian business
• 1 Small Scale Industries Branch extending finance exclusively to SSI units

Leadership in Rural Development

• Pioneer in introducing Self Help Groups and Financial Inclusion Project in the
country
• Award winner for Excellence in Agricultural Lending from Honourable Union
Minister for Finance
• Best Performer Award for Micro-Finance activities in Tamil Nadu and Union
Territory of Puducherry from NABARD
• Established 7 specialized exclusive Microfinance branches called "Microsate"
across the country to cater the needs of Urban poor through SHG (Self Help
Group)/JLG (Joint Liability Group) concepts
• A special window for Micro finance viz., Micro Credit Kendras are functioning in
44 Rural/Semi Urban branches
• Harnessing ICT (Information and Communication Technology) for Rural
Development and Inclusive Banking
• Provision of technical assistance and project reports in Agriculture to
entrepreneurs through Agricultural Consultancy & Technical Services (ACTS)

A pioneer in introducing the latest technology in Banking

• 100% Business Computerisation

• 168 Centres throughout the country covered under 'Anywhere Banking'
• Core Banking Solution(CBS) in 1541 branches and 77 extension counters.
• 600 connected Automated Teller Machines(ATM) in 220 cities/towns
• 24 x 7 Service through 32000 ATMs under shared network
• Internet and Tele Banking services to all Core Banking customers
• e-payment facility for Corporate customers
• Cash Management Services
• Depository Services
• Reuter Screen, Telerate, Reuter Monitors, Dealing System provided at Overseas
Branch, Chennai
• I B Credit Card Launched
• I B Gold Coin

Strategic alliance

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Indian Bank has entered into a strategic tie-up with HDFC Standard Life Insurance
Company Ltd.

Chairman & Managing Director

Shri M S Sundara Rajan, M.A. (Econ), CAIIB, A.C.S has assumed charge as
Chairman & Managing Director of Indian Bank on 4th June 2007. Prior to assuming
charge as Chairman & Managing Director, he was Executive Director of Indian Bank
since 1st April 2006.

Shri M S Sundara Rajan has over 3 decades of experience in Banking and held the
following important positions prior to assuming charge as Chairman & Managing
Director.

Executive Director of Indian Bank

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General Manager in charge of Mumbai Metropolitan Zone, Union Bank of India
In charge of Industrial Finance Branch, New Delhi, Union Bank of India
Deputy General Manager (Credit) at Head Office, Union Bank of India

Shri M S Sundara Rajan has been visiting Faculty at various Institutions

Executive Director

Shri A Subramanian has assumed charge as Executive Director of Indian Bank on

6th June 2007.

Shri A Subramanian, a graduate in Science from Bombay University with CAIIB joined
Oriental Bank of Commerce as Probationary Officer in 1970 at Bombay. After working in
various capacities for branch banking and Regional Administration at Bombay, Chennai,
Hyderabad and Calcutta, Shri Subramanian became part of Head of Office team as

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Assistant General Manager in Accounts Department. He rose to the position of General
Manager in September 2003 and headed Accounts Department and Risk Management
Department. He later assumed charge as General Manager (HRD) in May 2005 and
initiated introduction of various new HR policies. Prior to assuming charge as Executive
Director of Indian Bank, Shri Subramanian was heading Treasury, International
Banking and Investors Relation/ Corporate Governance of Oriental Bank of Commerce.

Attended a number of seminars and training in different disciplines both in India and
abroad.

Various facilities offered by the Indian bank

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 Deposits schemes

Indian Bank has many deposit schemes tailored to suit the needs of its customers,
both individuals and organisations
The facilities of nomination, loan against term deposit and foreclosure of term
deposit are available. Interest paid on domestic term deposits, except Recurring Deposit,
is subject to Tax deduction at source, as per rules from time to time. Further details can be
had from any of our branches

Fixed Deposits are accepted for a minimum amount of Rs.100/- with minimum period of
7* days and a maximum period of 120 months. No ceiling for maximum amount of
deposit. Interest is paid every quarter. Monthly interest can also be paid at a discounted
rate. Interest payable on Fixed Deposit can also be transferred to Savings Bank or
Current Account of the customer. Facilities for loan, foreclosure, nomination etc. are
available.

* 7 days minimum amount Rs.1 lakh

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Fixed Deposits placed for short term periods i.e. 7* days to 180 days will be renewed
automatically, on the due date, on the basis of the request from the depositor for the same
tenor as that of the original deposit for a maximum of 6 times. The customer need not
present the deposit receipt every time for renewal. The customer has the option to
withdraw the periodical interest or to renew along with the principal.

* 7 days minimum amount Rs.1 lakh

This scheme offers higher returns and liquidity too. Unit Deposits are Fixed Deposits -
with a difference : part withdrawals are allowed. Unit Deposits are accepted in units of
Rs.1,000 for periods of one year and above upto a maximum of 120 months. Part
withdrawals are allowed in multiples of Rs. 1,000 in these accounts without foreclosing
the entire deposit. On part withdrawals, interest will be paid on the amounts so
withdrawn as per the rules applicable for foreclosure of deposits. The balance amount of
units will continue to earn interest at the contracted rate. There is no restriction on number
of withdrawals. No interval required between withdrawals. Loan can be availed - No
withdrawals when loan is outstanding. A Passbook will be issued by the bank. Interest on
Unit Deposits will be at the rates applicable to Fixed Deposits.

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 Indian Bank's "user friendly" Facility deposit combines the advantage of Fixed
deposit with the flexibility of an Overdraft against the Deposit. A fixed deposit or re-
investment deposit, with a minimum of Rs.1000/- or more, in multiples of Rs. 1,000 is to
be made for a minimum period of 1 year and a maximum period of 3 years. A cheque
book will be issued to the customer to enable the depositor to draw at any time upto 90%
of the initial Deposit as Overdraft, at a rate 2% over the interest rate payable on Fixed
Deposits or at rates as prescribed the Bank from time to time. No folio/cheque leaf
charges will be levied. The customer has to give option either for withdrawal of interest
on renewal or for renewal of principal+interest

Reinvestment Plan Deposits (RIP) are accepted for a minimum amount of Rs.100/- and in
multiples of Rs.100/- for minimum period of 6 months and a maximum period of 120
months. No ceiling for maximum amount of deposit. Savings grow faster under RIP as
the interest is compounded quarterly. At the end of the stipulated period a much larger
amount is paid. Facilities for loan, foreclosure, nomination etc. are available.

Indian Bank's Cash Certificate is another pleasant proposition similar to RIP. Interest
earned will be reinvested at quarterly rests to yield compunded interest. The maturity
amounts are in lumpsum in multiples of Rs.100. Cash Certificates are accepted for a
minimum period of 6 months and a maximum period of 120 months.

Recurring Deposit is a scheme drawn specially to suit the needs of the individuals,
particularly the salaried class, small traders etc., to plan their savings to meet specific
demands. Recurring Deposit account can be opened with a monthly instalment of mere
Rs. 5 or in multiples thereof, for a period of 6 months and in multiples of 3 months upto a

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maximum of 120 months. The depositor will get the instalment amount along with the
interest on the due date. Facilities for Loan, foreclosure, nomination are available.

Variable Recurring Deposit is a Recurring Deposit scheme, where the customer is

having an option to vary his monthly instalments according to his convenience.
Minimum period of deposit is 12 months and maximum period is 120 months. The
amount of initial deposit can be minimum of Rs.25/- or multiple thereof upto a maximum
of Rs.1 lakh. The deposit account is opened with a specific amount called "core deposit"
and the customer can remit the monthly instalment upto Rs. 10 lakhs. Future instalments
should be only in multiple of core deposits. Even the higher amount remitted by the
customer earns interest at the contracted rate. Interest is payable on the minimum balance
between the 10th and the last day of the month. Interest shall be credit to the account
every half year ending September and March. Loan and facility for foreclosure are as
applicable to other term deposits

Under the Special Recurring Deposit scheme, deposits are accepted from institutions,
societies, Government undertakings, Corporate investors to meet their specific needs like
creation of sinking fund, amortisation fund etc.. Period of deposit is 5 years and maximum
period 20 years. There is no bar for opening account by individuals. Deposits may be
made monthly, quarterly, half-yearly and annual instalments, in multiples of Rs. 500/-,
with a minimum of Rs. 1000. Periodicity once selected can not be changed. Instalments to
be paid on or before the corresponding date of initial instalment. Delayed payment will
attract penal interest. Loan can be availed against the deposit.

In order to help the customers, particularly the middle income group like salaried
class, small traders etc., to plan their savings and to make a financial provision well in
advance to meet the future expenditure like the educational expenses of their children,
specific purposes like investments, payment of annual instalments, a unique scheme
called "Vidhya Nidhi Deposit" has been launched in our Bank. Under the scheme,
deposits are accepted every month for specified periods like 36 months, 48 months or 60
months and the maturity value is paid to the customer in 3, 4 or 5 annual instalments
respectively with further interest. The RD on completion of 3/4/5 years, as the case may

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be, shall be treated as RIP and will continue to earn interest at the same contracted rate, on
the balance after annual payemnt. The customer is having an option to choose the amount
of annual instalments required by him and the plan period. For fixing the rate of interest,
the whlole term of deposit including the repayment period shall be taken into account

The Savings Bank scheme is for the financial inclusion of those who have been hitherto
deprived of banking facility .The account can be opened with no initial / minimum
balance in Savings Bank account with relaxed KYC procedures. The account holder can
operate the account with withdrawal slip accompanied by pass book.10 transactions in a
month is allowed free of charges and above this limit , a small service charge is
prescribed. One DD/BPO is issued free of commission in a month and ATM card is
issued and the customer can withdraw upto available balance in the account. Value added
services like internet banking etc are available once the customer fulfill full KYC
procedures and maintain the minimum balance requirementsIB TAX SAVER SCHEME

AUTOMATIC RENEWAL of DOMESTIC TERM DEPOSITS

Central Government vide notification 203 of 2006 dt 28.7.2006 has formulated a Bank
Term Deposit Scheme which would be eligible for deduction under Section 80 C of the
Income Tax Act. IB Tax Saver Scheme has been launched based on the notification of
Central Government. The minimum amount is Rs.100 or in multiples of Rs.100 and the
maximum amount is Rs.1,00,000 in a financial year. Individuals or Hindu Undivided
Family(HUF) having Permanent Account Number (PAN) can deposit under this scheme
under Fixed Deposit or Reinvestment Plan schemes. Joint accounts are permitted but the
benefit under Section 80C of IT Act are available to the first person. The scheme is for a
period of 5 to 10 years. Term deposit shall not be pledged to secure loan or as security to
any other asset for a period of 5 years from the date of deposit . Foreclosure not allowed
before the expiry of 5 years from the date of deposit. TDS on deposits as per Section
194A /195 of the Income Tax Act. The automatic renewal of term deposits is available for
the following schemes viz Short term deposits, Fixed Deposits, RIP, Cash Certificate,
Unit Deposit, Facility Deposit, Special Scheme for Senior Citizens with effect from
1.11.2005.
Fresh term deposits opened on or after 1.11.2005 or the accounts which falls due on or
after 1.11.2005 are covered under this facility and the term deposits are renewed for equal
period of the term deposit subject to a maximum of one year in the absence of any
instructions upto the due date of the original deposit. The customer can vary the period etc
within 14 days from the renewal of deposits. In the case of RIP, net of TDS amount of
maturity value will be renewed.
However Recurring deposit, Special RD, Variable Rd, Vidhya Nidhi, Vidhya Nidhi
Matured for payment, Tiny deposit are not eligible for automatic renewal facility.

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SPECIAL DEPOSIT SCEME for SENIOR CITIZENS Senior Citizens who
have completed the age of 60 years can open the deposit account under this scheme by
providing age proof for the first time only . Joint account can also be permitted provided
the first named person should be the Senior Citizens. The scheme may be opened under
STD/Fixed Deposit/RIP scheme and can earn 0.50% additional rate over the card rate
payable for amount of less than Rs. 15 lakhs. The period of deposit is from 15 days to 10
years. NRE Deposits, Capital Gains Scheme, Term deposits of Rs.15 lakhs and above are
not eligible categories. On foreclosure of term deposit, the additional rate of 0.50% will
be deducted and the rate of interest prevailing on the date of deposit for the actual period
run will be paid without further penalty of 0.75% p.a which is applicable for other term
deposits. Other facilities like loan, nomination etc will be applicable for this scheme also.

Savings Bank accounts are suitable for inculcating the habit of savings among the
customers. It offers liquidity for the money and also earns interest.

Savings Bank accounts can be opened in the name of individuals, singly or jointly, minors
of 14 years of age and HUF. Minimum balances are prescribed for ordinary as well as
cheque operated Savings Bank accounts.

Interest is credited to the account every half-yearly viz. as on 31st January and 31st July.
There is no ceiling on the maximum balance earning interest on Savings Bank accounts.
The accounts can be operated by Withdrawal slips or by Cheques. 50 withdrawals per half
year are permitted free of charge. 2 Cheque books of 20 leaves each are issued to the
customer free of charge in a year.

Standing instructions are accepted for payment of insurance premia, school fees, etc., at a
very nominal charge. No charges will be levied for standing instructions within the
Branch such as payment of monthly instalment of Recurring Deposit etc..

Local as well as outstation cheques, dividend warrants, interest warrants and pension
payable to the account-holder are collected.

Lesser minimum balance is prescribed for pensioners. Nomination facilities are available.
ATM cards are provided free of cost if the depositor maintains prescribed minimum
balance. No TDS on interest earned in the SB account. Transfer of account from one
branch to another branch free of charge.

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A Scheme designed to take care of your health.

• What you have to do?

Maintain a minimum balance of Rs.5000 in this special account.

• What we offer you?

A Free family Health Plus Savings Card will be issued to the account holder with
photograph of the account holder affixed and the names of eligible family
members. Discount on Master Medical Check-up and some other diagnostic
services as extended by some selected hospitals will be available on producing
health plus saving card at prescribed hospitals to the customer's choice on any
number of occasions (The card must be renewed every year).

• ATM Card ........... as a Special Gift

Current accounts can be opened in the names of individuals (singly or jointly), proprietory
concerns, partnerships, companies etc. Minimum balance is prescribed on this type of
account and the account is operated by cheque. Though no interest is payable on this type
of account, there is no restriction on the number of transactions.

Issue of cheque book at a nominal cost of Rs.3/- per leaf. Folio charges free on
maintenance of certain balance in the account. Free manual/computerised statement of
account every month. Collection of local cheques free and collection of outstation
cheques through special schemes like Expressway, Cash Management Service etc.
Cheque BP/withdrawal against uncleared effects as per prescribed norms.

The Bank undertakes collection of bills, cheques, hundies, pension bills etc., as per
instructions of the customers, subject to levy of a nominal service charge. Standing
instructions of the customers are also accepted.

Nomination for individual/sole proprietary accounts. Trade finance scheme available. DD

shoppe/extended business hours/7 days week etc. are other facilities available.

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An innovative Current Account, perfectly tailor-made to suit your high value business.
Advantage Account offers a wide range of customer friendly services with a whole lot of
following benefits:

• Operative in selected computerised branches in Chennai, Coimbatore, Bangalore,

Hyderabad, Mumbai, Pune, Ahmedabad and Kolkata.
• Initial deposit for opening the account if Rs.One lakh.
• DDs/BPOs at par upto Rs.2.00 lakhs and Free ATM card for individuals.
• Instant credit of outstation cheques for an amount upto Rs.20,000/-.
• Faster collection of outstation cheques between selected centres. EFT between 4
metros upto Rs.5.00 lakhs at Rs.25/- per transaction.
• Free ATM card for individuals
• National clearing between major metro centres Free computerised statement of
account
• Extended business hours for non cash transaction at computerised branches
• Nominal penal charges in case of non maintenance of balance
• Standing instructions/stop payment instruction/folio & signature attestations
carried out free of cost
• Acceptance of cheques for collection till closure of office hours
• No folio charges
• Supply of personalised cheque books
• Drawing against local cheques of Govt. bodies/PSUs/reputed Joint Stock
Companies and bank drafts and pay orders

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VIKAS SAVINGS KHATA

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