Rabobank International. Code for Banking Practice

Size: px
Start display at page:

Download "Rabobank International. Code for Banking Practice"

Transcription

1 Rabobank International Code for Banking Practice 1

2 Contents Para Particulars No. Introduction 2 Code for Banking Practice 1 Observance 2 2 Prizes and Gifts 2 3 Association with Chit Funds/Speculative Ventures 2 4 Deposit Receipts 2 5 Savings Bank Account 2 6 Printing of Customer s Logo, etc on cheque leaves 2 7 Renewal of overdue domestic Term Deposit 3 8 Payment of interest on term Deposit maturing on holidays 3 9 Negative Publicity 3 10 Interest payment 3 11 General conventions for domestic deposits 3 12 Terms of Acceptance of Deposits 4 13 Overdraft in Savings Bank Account 4 14 Monitoring Useful Definitions Page No. 4 Annexure Prohibition against opening of Savings Bank Accounts in the name of certain Bodies/Organisations 5 Rabobank - IBA Code for Banking Practice 1

3 INTRODUCTION - Rabobank International (Coöperatieve Centrale Raiffeisen-Boerenleenbank B.A.), Mumbai branch (hereinafter called the Bank ), has adopted the Banking Practice Code as drafted by the Indian Banks Association (IBA) to the extent of the Banks business and approved product range. The Code is intended : a. to promote good banking practices by setting out the minimum standards which the Bank will follow in their dealings with customers. b. to foster customer confidence in the banking system. c. to inculcate self-discipline amongst Member Banks with a view to promoting healthy competition and ethical practices in respect of banking services. IBA Code for Banking Practice 1. OBSERVANCE Member Banks of the Indian Banks' Association (the Association) agree to observe and abide by the following Ground Rules: 2. PRIZES AND GIFTS The Bank will not give prizes, gifts, donations, etc., or any direct or indirect benefits in the purchase price or in respect of any other transactions relating to securities, bonds, etc., as consideration or with a view to getting or retaining a deposit and or advance account. Promotional schemes duly approved by the Boards of respective banks may, however, be launched within the regulatory framework of the Reserve Bank of India. However, it may be customary to distribute gifts (cost of such gift article should not exceed Rs.250/- per piece) at the time of Diwali or New Year to the valued customers. The Bank's policy in this regard will be approved by the Board. 3. ASSOCIATION WITH CHIT FUNDS/SPECULATIVE VENTURES The Bank will not associate themselves with chit fund companies, which conduct lottery, gift schemes, etc., or any other speculative ventures. The Bank will also not encourage or lend their names to promote speculative ventures of any nature. However, it would be in order for the Bank to open current accounts, fixed deposits, etc. of such companies in the Banks' normal course of business. 4. DEPOSIT RECEIPTS When the Bank will issue deposit receipts against cheques/demand drafts/pay-orders drawn on local banks, the Bank will pay interest on such deposits from the date on which the relative instrument gets credited/adjusted in the Banks account at the clearing house (RBI, SBI, etc.). 5. SAVINGS BANK ACCOUNT The Bank will not open savings bank accounts in the name of the institutions which have been listed out in the Annexure to this Code and also as amended from time to time. 6. PRINTING OF CUSTOMER S LOGO, ETC., ON CHEQUE LEAVES The Bank will not print or allow the customers to print any logo, advertisement, etc., on the cheque leaves. However, this prohibition need not be extended to dividend/ interest warrants or refund orders in view of their limited circulation. Rabobank - IBA Code for Banking Practice 2

4 7. RENEWAL OF OVERDUE DOMESTIC TERM DEPOSIT Renewal of overdue domestic term deposit (from maturity date of overdue deposit) shall be for a period extending upto at least 15 days beyond the actual date of renewal. If the renewed overdue domestic deposit is tendered for premature foreclosure/encashment before completion of minimum 15 days from the actual date of the renewal, no interest will be paid for the overdue period even if the total overdue period from the date of maturity of the old deposit receipt exceeds 15 days. 8. PAYMENT OF INTEREST ON TERM DEPOSIT MATURING ON HOLIDAYS If the noted due date of a term deposit falls on a holiday, Sunday, nonbusiness working day, interest be paid for such intervening day(s), at the originally contracted rate, till the succeeding working day. 9. NEGATIVE PUBLICITY The Bank will not make publicity of adverse/weak position of other banks, in order to wean away the customers of the affected banks. 10.INTEREST PAYMENT a. The statements with regard to the rate of interest, method of interest calculation, etc. in any publicity literature, advertisement and other forms of publicity on deposit scheme/s of the Bank shall be precise and intelligible. b. The Bank will follow the Master Charts relating to payment of interest on deposits prepared by the Association from time to time for fixing maturity values; for payment of monthly income, annuities, etc. 11. GENERAL CONVENTIONS FOR DOMESTIC DEPOSITS a. The Bank will not accept any deposits for a period longer than 10 years. However, the Bank may accept deposits for periods exceeding 10 years in terms of orders of competent courts or in the case of minors where interests of minors are involved, provided the Bank is convinced that it is necessary to do so. Within the above period, the maximum tenor for Term deposits will be decided by the Asset Liability Committee (ALCO) from time to time. b. Interest on deposits for fixed term may be paid, credited, transferred or reinvested with frequency not less than the quarterly rests. However, payment of monthly interest may be allowed, if required, by discounting the quarterly interest accrued (refer to the Association's Master Charts). c. Interest on deposits where the terminal period (month/ quarter/half year etc., as the case may be) is incomplete shall be paid on maturity. d. On deposits repayable in less than three months or where the terminal quarter is incomplete, interest would be paid for the actual number of days on the basis of 365 days in a year. e. Where the interest is paid at discounted value on monthly basis during the currency of the deposits: If the terminal quarter or half years consists of one month (e.g. deposit is for 37 months), interest therefore (i.e. for 37th month) shall be paid at actuals (i.e. one third of quarterly or one-sixth of half-yearly interest). f. Where the terminal incomplete quarter or half year consists of (i) one month and over, but less than two months (ii) two months, and two months and over but less than three months, interest will be paid as under: (i) for one month and over but less than two months (e.g. deposit for 37 months and 15 days); or (ii) two months (e.g. deposit of 38 months) At discounted value for the first month (i.e. 37 th month) and at actuals for the terminal incomplete Rabobank - IBA Code for Banking Practice 3

5 month (i.e. 15 days) or second month (i.e. 38 th month), as the case may be; (iii) for two months and over but less than three months (e.g. deposit for 62 months and 15 days) At discounted value for first and second months (i.e. 61 st and 62 nd month) and at actuals for the terminal incomplete month (i.e. 15 days). 12. TERMS OF ACCEPTANCE OF DEPOSITS The Bank will not issue an incomplete Term Deposit Confirmation Advice which does not clearly mention the amount actually deposited, period for which the deposit is placed/accepted and the rate of interest payable. 13. OVERDRAFT IN SAVINGS BANK ACCOUNT No overdraft limit on a regular basis be permitted in saving bank account. 14.MONITORING The Committee constituted by the Association to ensure the observance / compliance of the Code by the Banks shall be empowered to investigate and follow up the cases of violation of the Code by Member Banks that may be brought to its notice. The Bank will not violate any of the Ground Rules merely because some other Member bank/s has/have violated. The Bank will instruct their officials that on their coming across any case of violation by other banks, they shall bring the same to the notice of the Management, who will take up the matter with the Association. For this purpose, the Bank has nominated a Nodal Officer who shall liaise between the Bank and the Association. The Association shall consider the complaint on violations received from the Nodal Officer of the Bank. The Bank will give immediate effect to the suggestions given by the Committee in respect of any matter related to violation of this Code. USEFUL DEFINITIONS a. "Prizes etc." means any prize, lottery, lucky dip, prize draw, gift, benefit either in cash or in kind, attached to, linked with or flowing from any deposits/advances schemes. b. "Term Deposits" or "Fixed Deposits" are deposits where the depositor makes a lump sum deposit at one time for a fixed term and receives payment thereof on maturity; the interest on the deposit is payable at simple rate either periodically or at maturity. c. "Cumulative Deposits" are deposits where the input is in equal monthly instalments and the output, on maturity, is in one lump sum. Rabobank - IBA Code for Banking Practice 4

6 Annexure PROHIBITION AGAINST OPENING OF SAVINGS BANK ACCOUNTS IN THE NAME OF CERTAIN BODIES/ORGANISATIONS (Vide paragraph Manual of Instructions (June 1998): Department of Banking Operations and Development, Reserve Bank of India) 1. Savings deposit account cannot be opened by banks in the name of: a) Government departments b) Bodies depending upon budgetary allocations for performance of their functions. c) Municipal Corporations or Municipal Committees d) Panchayat Samitis e) State Housing Boards f) Water and Sewerage/Drainage Boards g) State Text Book Publishing Corporations h) Societies i) Metropolitan Development Authority j) State/District Level Housing Co-op. Societies, etc. k) Any trading, business or professional concern (e.g. firms of Chartered Accountants, Lawyers, etc.) whether such concern is a proprietary or a partnership firm or a company or an association l) Political Party 2. The above prohibition will not apply in the case of the following organisations/ agencies : a) Primary Co-operative Credit Society which is being financed by the bank b) Small Farmers Development Agencies (SFDA)/Fish Farmers Development Agencies (FFDAs) c) Marginal Farmers and Agricultural Labourers Agencies (MFALAs) d) Drought Prone Areas Programme (DPAP) e) District Development Authority (DDA) f) District Rural Development Agency/Society (DRDA/DADS) g) Integrated Rural Development Programme (IRDP)/Development of Women and Children in Rural Areas (DWCRA)/Self-Help Groups (SHGs), registered or unregistered, which are engaged in promoting savings habit among their members/farmers Clubs-Vikas Volunteer Vahini (VVV), informal groups of rural farmers or entrepreneur. h) Integrated Tribal Development Agency (ITDA) i) Agricultural Produce Market Committees j) Khadi and Village Industries Boards k) Societies registered under the Societies Registration Act, 1860 or any other corresponding law in force in State or a Union Territory. l) Companies governed by the Companies Act, 1956 which have been licensed by the Central Government under Section 25 of the said Act, or under the corresponding provision in the Indian Companies Act, 1913 and permitted, not to add to their names the words Limited or the words Private Limited m) Institutions other than those mentioned in clause (i) above and whose entire income is exempt from payment of income-tax under the Income- Tax Act, n) Zilla Parishads/Gram Panchayats only in respect of Jawahar Rojgar Yojana Funds o) Nagar Panchayats, Nagar Palikas and Municipal bodies in relation to funds (Central assistance + State share) given under Nehru Rozgar Yojana Rabobank - IBA Code for Banking Practice 5

7 towards the components of (i) Subsidy and (ii) Training and Infrastructure of the Scheme of Urban Micro Enterprise (SUME) and Scheme of Urban Wage Employment (SUWE) and interest earned on deposits under both the components of SUME and on deposits under SUWE subject, however, to the condition that no such account shall be opened with a bank other than public sector bank. Rabobank - IBA Code for Banking Practice 6

GOVERNMENT SPONSORED PROGRAMMES

GOVERNMENT SPONSORED PROGRAMMES GOVERNMENT SPONSORED PROGRAMMES The Government at Centre and State are implementing Programmes for alleviating poverty, providing gainful employment to various sections of the people viz. Men, women, youth

More information

Sumitomo Mitsui Banking Corporation Citizen charter. Version: 02

Sumitomo Mitsui Banking Corporation Citizen charter. Version: 02 Sumitomo Mitsui Banking Corporation Citizen charter Version: 02 Table of Contents Table of Contents 1. Introduction...1 2. Common practice followed by us...2 3. Fair banking practices...3 4. Common areas

More information

CUSTOMER COMPENSATION POLICY

CUSTOMER COMPENSATION POLICY CUSTOMER COMPENSATION POLICY 1.1. 1.2. 1.3. 1.4. 1.4.1. 1.4.2. 1.4.3. 1.4.4. This Compensation Policy of the Bank is designed to cover all the incidences where the Bank is liable to make good any financial

More information

NAB Fixed Income Bond

NAB Fixed Income Bond NAB Fixed Income Bond Product Disclosure Statement Including Terms and Conditions for NAB Fixed Income Bonds sold after 8 November 2001 effective 11 March 2004 Contents Part A General information 2 Features

More information

Master Circular - Cash Reserve Ratio (CRR) and Statutory Liquidity Ratio (SLR)

Master Circular - Cash Reserve Ratio (CRR) and Statutory Liquidity Ratio (SLR) Master Circular - Cash Reserve Ratio (CRR) and Statutory Liquidity Ratio (SLR) A. Purpose This Master Circular prescribes the broad details of the Reserve Requirements. B. Classification - A statutory

More information

Lawyers of LF «Dmitrieva & Partners» have prepared the list of top news in the field of taxation for the last two weeks.

Lawyers of LF «Dmitrieva & Partners» have prepared the list of top news in the field of taxation for the last two weeks. REVIEW OF THE MAIN EVENTS IN THE SPHERE OF TAXATION Lawyers of LF «Dmitrieva & Partners» have prepared the list of top news in the field of taxation for the last two weeks. The amount of daily business

More information

ANNEXURE POLICY ON BANK DEPOSITS

ANNEXURE POLICY ON BANK DEPOSITS ANNEXURE POLICY ON BANK DEPOSITS 1. TYPES OF DEPOSIT ACCOUNTS: While various deposit products offered by the Bank are assigned different names, the deposit products can be categorized broadly into the

More information

Deposit Policy. The deposit products can be categorised broadly into the following types. Definitions of major deposits schemes are as under: -

Deposit Policy. The deposit products can be categorised broadly into the following types. Definitions of major deposits schemes are as under: - 1 Deposit Policy Preamble One of the important functions of the Bank is to accept deposits from the public for the purpose of lending. In fact, depositors are the major stakeholders of the Banking System.

More information

BANKING QUESTION AND ANSWERS- PART-1

BANKING QUESTION AND ANSWERS- PART-1 BANKING QUESTION AND ANSWERS- PART-1 1. Which of the following statements is true? (1) Banks cannot accept demand and time deposits from public (2) Banks can accept only demand deposits from public (3)

More information

Sumitomo Mitsui Banking Corporation Deposit Policy. Version: 04

Sumitomo Mitsui Banking Corporation Deposit Policy. Version: 04 Sumitomo Mitsui Banking Corporation Deposit Policy Version: 04 Table of Contents Table of Contents 1. Introduction... 1 2. Types of Deposit Accounts... 2 3. Deposits... 3 4. Account opening and operation

More information

MASTER CIRCULAR ON INTEREST RATES ON ADVANCES

MASTER CIRCULAR ON INTEREST RATES ON ADVANCES MASTER CIRCULAR ON INTEREST RATES ON ADVANCES A. Purpose To consolidate the directives on interest rates on advances issued by Reserve Bank of India from time to time. B. Classification A statutory directive

More information

KNOW YOUR CUSTOMER (KYC) GUIDELINES OF RBI

KNOW YOUR CUSTOMER (KYC) GUIDELINES OF RBI KNOW YOUR CUSTOMER (KYC) GUIDELINES OF RBI Know Your Customer [KYC] is the platform on which Banking system operates to avoid the pitfalls of operational, legal and reputational risks and consequential

More information

Rabobank International CUSTOMER COMPENSATION POLICY (BANKING SERVICES)

Rabobank International CUSTOMER COMPENSATION POLICY (BANKING SERVICES) Rabobank International CUSTOMER COMPENSATION POLICY (BANKING SERVICES) 1 Contents Para No. Particulars Page No. 1 Introduction 2 2 Objective 2 3 Recognition of deficiency and compensation 2 A Unauthorised

More information

Premium Savings Account (CBS branches only) - High earnings with easy liquidity

Premium Savings Account (CBS branches only) - High earnings with easy liquidity Corporate Office : Gandhinagar : Bangalore 560 009 ------------------------------------------------------------------------------------------------------------ OUR DEPOSIT SCHEMES Savings Deposit Account

More information

POLICY ON BANK DEPOSITS

POLICY ON BANK DEPOSITS POLICY ON BANK DEPOSITS 1. Preamble One of the important functions of the Bank is to accept deposits from the public for the purpose of lending. In fact, depositors are the major stakeholders of the Banking

More information

ACT on Payment Services 1 ) 2 ) of 19 August 2011. Part 1 General Provisions

ACT on Payment Services 1 ) 2 ) of 19 August 2011. Part 1 General Provisions ACT on Payment Services 1 ) 2 ) of 19 August 2011 Part 1 General Provisions Article 1. This Act sets out rules for the provision of payment services, including: 1) the conditions for provision of payment

More information

Policy on Bank Deposits

Policy on Bank Deposits Policy on Bank Deposits 1. Preamble One of the important functions of the Bank is to accept deposits from the public for the purpose of lending. In fact, depositors are the major stakeholders of the Banking

More information

ACCOUNTS IN THE NAME OF ASSOCIATIONS, CLUBS ETC.:

ACCOUNTS IN THE NAME OF ASSOCIATIONS, CLUBS ETC.: SA VIN G BANK RULES 1. WHO CAN OPEN AN ACCOUNT? A Savings Bank Account may be opened by, i. A single person in his or her own name, Two persons in their joint names, payable to, (a) Either or Survivor,

More information

Eastcheap Court 11 Philpot Lane London EC3M

Eastcheap Court 11 Philpot Lane London EC3M LC2 Eastcheap Court 11 Philpot Lane London EC3M 8UD T 020 7862 6610 F 020 7862 6509 E pwlb@dmo. gsi.gov.uk www.pwlb.gov.uk Public Works Loan Board LOANS TO PARISH, TOWN AND COMMUNITY COUNCILS 1. Power

More information

Educational Loan Scheme

Educational Loan Scheme Educational Loan Scheme RPCD.PLNFS.BC.NO.83/06.12.05/2000-01 April 28, 2001 The Chairman/Managing Director All scheduled commercial banks Dear Sir Educational Loan Scheme The Finance Minister in a meeting

More information

International Money Transfer Service Terms and Conditions

International Money Transfer Service Terms and Conditions International Money Transfer Service Terms and Conditions Article 1 (Scope of Application) The International Money Transfer Service offered by Seven Bank (hereinafter referred to as the Bank ) shall be

More information

Schemes for Financing Micro, Small and Medium Enterprises

Schemes for Financing Micro, Small and Medium Enterprises Schemes for Financing Micro, Small and Medium Enterprises Background The Small Scale Industries Sector, redefined since 2006 as the Micro Small and Medium Enterprises Sector has played a seminal role in

More information

CREDIT FACILITY AGREEMENT BETWEEN. Insert the name of the Borrower AND THE SOUTH INDIAN BANK LTD

CREDIT FACILITY AGREEMENT BETWEEN. Insert the name of the Borrower AND THE SOUTH INDIAN BANK LTD CREDIT FACILITY AGREEMENT (To be stamped as an agreement) BETWEEN Insert the name of the Borrower AND THE SOUTH INDIAN BANK LTD Facility Amount Rs. This forms part of the Agreement for credit facility

More information

BANK BRANCH AUDIT PLANNING

BANK BRANCH AUDIT PLANNING BANK BRANCH AUDIT PLANNING Banking Industry in India is developing and expanding day by day. The basic work culture in banks in India is fairly different as compared to banks in other countries. The customers

More information

The attached is a draft of the type of working capital facility document that National Australia Bank, Mumbai branch, might enter into with its

The attached is a draft of the type of working capital facility document that National Australia Bank, Mumbai branch, might enter into with its The attached is a draft of the type of working capital facility document that National Australia Bank, Mumbai branch, might enter into with its customers. The draft is not meant to be, nor should it be

More information

RBL Bank Limited. (Formerly: The Ratnakar Bank Limited) Deposit Policy

RBL Bank Limited. (Formerly: The Ratnakar Bank Limited) Deposit Policy RBL Bank Limited (Formerly: The Ratnakar Bank Limited) Deposit Policy 1. Preamble One of the important functions of the Bank is to accept deposits from the public for the purpose of lending. In fact, depositors

More information

An Introduction to Indian Financial System Provisions of Important Acts in Relation to Regulation and Supervision.

An Introduction to Indian Financial System Provisions of Important Acts in Relation to Regulation and Supervision. An Introduction to Indian Financial System Provisions of Important Acts in Relation to Regulation and Supervision October 08, 2012 An Introduction to Indian Financial System The financial system plays

More information

Merchant Account Terms of Use

Merchant Account Terms of Use Merchant Account Terms of Use This Merchant Account Terms of Use ("MATOU") governs your use of the Services. Capitalised terms and expressions used in this MATOU shall, unless the context otherwise requires,

More information

COMPENSATION POLICY. The policy is based on the principles of transparency and fairness in the treatment of customers.

COMPENSATION POLICY. The policy is based on the principles of transparency and fairness in the treatment of customers. Introduction COMPENSATION POLICY Technological progress in payment and settlement systems and the qualitative changes in operational systems and processes that have been undertaken by various players in

More information

General Conditions for Bank of Cyprus UK CharityBonds (April 2013)

General Conditions for Bank of Cyprus UK CharityBonds (April 2013) General Conditions for Bank of Cyprus UK CharityBonds (April 2013) Bank of Cyprus UK Limited ( we/our/us ), trading as Bank of Cyprus UK, incorporated in England and Wales as company number 04728421, a

More information

Retirement Planning- Issues and Challenges in the Indian Context

Retirement Planning- Issues and Challenges in the Indian Context IFIE /IOSCO Global Investor Education Conference, Washington DC Retirement Planning- Issues and Challenges in the Indian Context S. Raman Whole Time Member Securities and Exchange Board of India 22 May

More information

Law of the Republic of Azerbaijan on Non-Banking Credit Institutions

Law of the Republic of Azerbaijan on Non-Banking Credit Institutions Law of the Republic of Azerbaijan on Non-Banking Credit Institutions This Law regulates establishment, management and activities of non-bank credit institutions with purpose of more thoroughly meeting

More information

INTRODUCTORY REFERENCE

INTRODUCTORY REFERENCE SAVING BANK RULES 1. INTRODUCTORY REFERENCE Any person approved by the Bank may open a Savings Bank Account upon agreeing to comply with the prescribed Rules, provided he/ she furnishes an introductory

More information

I loved reading the terms & conditions! said no one, ever. term deposit terms + conditions

I loved reading the terms & conditions! said no one, ever. term deposit terms + conditions I loved reading the terms & conditions! said no one, ever term deposit terms + conditions index. Part a - general terms and conditions. 2 1 Purpose of this booklet. 2 2 Meaning of words used. 2 3 Opening

More information

V. INDUSTRIES AND MINERALS: (Rs.150.00 lacs)

V. INDUSTRIES AND MINERALS: (Rs.150.00 lacs) V. INDUSTRIES AND MINERALS: (Rs.150.00 lacs) IN.1 Quality improvement of Industrial facilities: (Rs.20.00 lacs) a. Industrial Development-cum-Facility Centre: (Rs.5.00 lac) The Industrial Development-cum-Facility

More information

Oriental Bank s Compensation Policy 2014-15

Oriental Bank s Compensation Policy 2014-15 Oriental Bank s Compensation Policy 2014-15 Introduction Compensation Policy of Bank is designed to cover areas relating to unauthorized debiting of account, payment of interest to customers for delay

More information

GROUP INSURANCE. MODULE - 3 Practice of Life Insurance. Notes

GROUP INSURANCE. MODULE - 3 Practice of Life Insurance. Notes Group Insurance MODULE - 3 6 GROUP INSURANCE 6.0 INTRODUCTION The life insurance policy can be issued to individual as well as to groups. We have already discussed the various plans available for individuals

More information

Westpac India - Customer Compensation Policy

Westpac India - Customer Compensation Policy Westpac India - Customer Compensation Policy Dated 27 th February 2013 FOR INTERNAL USE ONLY 1 P a g e Customer Compensation Policy of Westpac India FOR INTERNAL USE ONLY WESTPAC INDIA CUSTOMER COMPENSATION

More information

Rate of interest on term deposits A micro level study

Rate of interest on term deposits A micro level study Rate of interest on term deposits A micro level study Ashish Das 1 and Praggya Das 2 1 Division of Theoretical Statistics and Mathematics, Indian Statistical Institute, New Delhi-110016 2 Department of

More information

Companies (Acceptance of Deposits) Rules, 1975

Companies (Acceptance of Deposits) Rules, 1975 Companies (Acceptance of Deposits) Rules, 1975 In exercise of the powers conferred by section 58A, read with section 642 of the Companies Act, 1956(1 of 1956), the Central Government, in consultation with

More information

Celebrate being a part of the group

Celebrate being a part of the group IDBI Federal Termsurance Group Premium Return Insurance Plan Celebrate being a part of the group A life cover that protects your key relationships. THIS PRODUCT BROCHURE ONLY GIVES THE SALIENT FEATURES

More information

CHAPTER 1. GENERAL PROVISIONS

CHAPTER 1. GENERAL PROVISIONS UNOFFICIAL TRANSLATION Adopted on 22.12.2010 LAW OF THE REPUBLIC OF ARMENIA ON FUNDED PENSIONS CHAPTER 1. GENERAL PROVISIONS The purpose of this Law is to establish opportunities for receiving pension

More information

Baroda MAX - Online Fixed Rate Bond

Baroda MAX - Online Fixed Rate Bond Baroda MAX - Online Fixed Rate Bond Frequently Asked Questions (FAQ) 1. Is Bank of Baroda regulated by the Regulatory Authority in UK? Yes, Bank of Baroda is authorized and regulated by the Prudential

More information

SPECIFIC TERMS APPLICABLE TO YOUR HIGH YIELD CHECKING ACCOUNT

SPECIFIC TERMS APPLICABLE TO YOUR HIGH YIELD CHECKING ACCOUNT SPECIFIC TERMS APPLICABLE TO YOUR HIGH YIELD CHECKING ACCOUNT Variable Rate information. This account is subject to a Variable Rate. The interest rate and annual percentage yield (APY) may change at any

More information

LAW ON PAYMENT SERVICES

LAW ON PAYMENT SERVICES LAW ON PAYMENT SERVICES Part I INTRODUCTORY PROVISIONS Subject matter Article 1 This Law regulates the conditions and manner of providing payment services, electronic money, payment systems and supervision

More information

7.2. Insurance and Investments

7.2. Insurance and Investments Personal Finance and Money Management (Basics of Savings, Loans, Insurance and Investments) ------------------------------------------------------------------------------------ Module 7 Topic-2 ------------------------------------------------------------------------------------

More information

Current/Cheque/Savings Account and Fixed Deposit Terms www.sc.com/gh

Current/Cheque/Savings Account and Fixed Deposit Terms www.sc.com/gh Current/Cheque/Savings Account and Fixed Deposit Terms www.sc.com/gh Copyright 2015 Standard Chartered Bank Version 01/2015 Contents 1 Choosing the account that is right for you 1 2 Savings accounts 1

More information

REPUBLIC OF ARMENIA LAW ON CREDIT ORGANIZATIONS CHAPTER 1 GENERAL PROVISIONS

REPUBLIC OF ARMENIA LAW ON CREDIT ORGANIZATIONS CHAPTER 1 GENERAL PROVISIONS REPUBLIC OF ARMENIA LAW ON CREDIT ORGANIZATIONS CHAPTER 1 GENERAL PROVISIONS ARTICLE 1. Subject Matter of the Law This Law shall govern the licensing procedure, regulation and supervision of activities

More information

PPS RETIREMENT ANNUITY

PPS RETIREMENT ANNUITY PPS RETIREMENT ANNUITY APPLICATION FORM PROFESSIONAL PROVIDENT SOCIETY INVESTMENTS PROPRIETARY LIMITED ( PPS INVESTMENTS ) CLIENT SERVICE CENTRE CONTACT DETAILS TEL: 0861 777 723 (0861 PPS RAF) FAX: 021

More information

STATE BANK OF TRAVANCORE (Associate of the State Bank of India) HEAD OFFICE:: THIRUVANANTHAPURAM SYSTEMS & PROCEDURES DEPARTMENT

STATE BANK OF TRAVANCORE (Associate of the State Bank of India) HEAD OFFICE:: THIRUVANANTHAPURAM SYSTEMS & PROCEDURES DEPARTMENT 1 STATE BANK OF TRAVANCORE (Associate of the State Bank of India) HEAD OFFICE:: THIRUVANANTHAPURAM SYSTEMS & PROCEDURES DEPARTMENT SAVINGS BANK RULES Know Your Customer Guidelines 1. a) Any person fulfilling

More information

292.310 Definitions for chapter. When used in this chapter, unless the context otherwise requires: (1) "Agent" means any individual other than a

292.310 Definitions for chapter. When used in this chapter, unless the context otherwise requires: (1) Agent means any individual other than a 292.310 Definitions for chapter. When used in this chapter, unless the context otherwise requires: (1) "Agent" means any individual other than a broker-dealer who represents a brokerdealer or issuer in

More information

POLICY ON DEPOSITS. Head Office :: Bangalore. 1. Preamble

POLICY ON DEPOSITS. Head Office :: Bangalore. 1. Preamble Head Office :: Bangalore POLICY ON DEPOSITS 1. Preamble One of the important functions of the Bank is to accept deposits from the public for the purpose of lending. In fact, depositors are the major stakeholders

More information

Introduction 1. Erroneous debits arising on transactions specified herein below:

Introduction 1. Erroneous debits arising on transactions specified herein below: Compensation Policy Introduction We (the Bank ) offer high levels of service to our customers. In the event, for some reason beyond our control or inadvertently, we are unable to meet the service levels

More information

KAZAKHSTAN LAW ON JOINT STOCK COMPANIES

KAZAKHSTAN LAW ON JOINT STOCK COMPANIES KAZAKHSTAN LAW ON JOINT STOCK COMPANIES Important Disclaimer This does not constitute an official translation and the translator and the EBRD cannot be held responsible for any inaccuracy or omission in

More information

Investment by foreign direct investors in to Insurance company is restricted to 12% 25% 40% 26%

Investment by foreign direct investors in to Insurance company is restricted to 12% 25% 40% 26% In life insurance business if a person is working in calculating premium rates of insurance products, then he is mostly likely a member of Institutes of actuaries of India Insurance institute of India

More information

Visa Credit Card Cardmember Agreement

Visa Credit Card Cardmember Agreement Visa Credit Card Cardmember Agreement In this Agreement the words You, Your and Yourself mean each and all of those who apply for the card or who sign this Agreement. Card means the Visa Credit Card and

More information

TAXATION OF FINANCIAL INSTRUMENTS

TAXATION OF FINANCIAL INSTRUMENTS 2 Ing. Katarína Vavrová Faculty of Business Management University of Economics in Bratislava Investment in securities is influenced not only by the relation between the intrinsic value and market price

More information

10B, 10BA) - 139(1) :- 2. DUE DATE OF FILING RETURN OF INCOME: - 30 31 3. RETURN OF

10B, 10BA) - 139(1) :- 2. DUE DATE OF FILING RETURN OF INCOME: - 30 31 3. RETURN OF RETURN OF INCOME 1. OVERVIEW: - Section 139(1) of the act requires every person :- a) Being a company or firm to file a return of income b) Local authority to file return if total income exceeds the exemption

More information

Save, Secure and Prosper. IndiaFirst Simple Benefit Plan (Non Linked Individual Participating Endowment Plan)

Save, Secure and Prosper. IndiaFirst Simple Benefit Plan (Non Linked Individual Participating Endowment Plan) Save, Secure and Prosper IndiaFirst Simple Benefit Plan (Non Linked Individual Participating Endowment Plan) Before You Start Reading Important Note IndiaFirst Simple Benefit Plan is referred to as the

More information

Now enjoy the best days of your life!

Now enjoy the best days of your life! Now enjoy the best days of your life! IndiaFirst Annuity Plan Before you start reading Important note IndiaFirst Annuity Plan is referred to as the Plan throughout the brochure. How will this brochure

More information

INSTITUTE OF ACTUARIES OF INDIA

INSTITUTE OF ACTUARIES OF INDIA INSTITUTE OF ACTUARIES OF INDIA EXAMINATIONS 15 th November 2010 Subject CT1 Financial Mathematics Time allowed: Three Hours (15.00 18.00 Hrs) Total Marks: 100 INSTRUCTIONS TO THE CANDIDATES 1. Please

More information

23 rd Year of Publication. A monthly publication from South Indian Bank. To kindle interest in economic affairs... To empower the student community...

23 rd Year of Publication. A monthly publication from South Indian Bank. To kindle interest in economic affairs... To empower the student community... Experience Next Generation Banking To kindle interest in economic affairs... To empower the student community... Open YAccess www.sib.co.in ho2099@sib.co.in A monthly publication from South Indian Bank

More information

Ensure your tomorrow is as beautiful as today.

Ensure your tomorrow is as beautiful as today. Ensure your tomorrow is as beautiful as today. HDFC LIFE PERSONAL PENSION PLUS A Traditional Participating Pension Plan Building A Foundation For Your Financial Freedom After Retirement Please note that

More information

Mizuho Bank, Ltd. India. Deposit Policy. Revised on May 27, 2015

Mizuho Bank, Ltd. India. Deposit Policy. Revised on May 27, 2015 Mizuho Bank, Ltd. India Deposit Policy Revised on May 27, 2015 DISCLAIMER This Policy has been prepared on the basis of existing regulatory/statutory guidelines, existing risk management policies in the

More information

Financial Services Guide 10.14

Financial Services Guide 10.14 Financial Services Guide 10.14 Introduction This Financial Services Guide is designed to assist you in deciding whether to use any of the financial services offered by Australia and New Zealand Banking

More information

i) Demand deposits means a deposit received by the BANK which is withdrawable on demand;

i) Demand deposits means a deposit received by the BANK which is withdrawable on demand; Policy on Bank Deposits 1. Preamble One of the important functions of the Bank is to accept deposits from the public for the purpose of lending. In fact, depositors are the major stakeholders of the Banking

More information

REGULATION ON MEASUREMENT AND ASSESSMENT OF CAPITAL REQUIREMENTS OF INSURANCE AND REINSURANCE COMPANIES AND PENSION COMPANIES

REGULATION ON MEASUREMENT AND ASSESSMENT OF CAPITAL REQUIREMENTS OF INSURANCE AND REINSURANCE COMPANIES AND PENSION COMPANIES REGULATION ON MEASUREMENT AND ASSESSMENT OF CAPITAL REQUIREMENTS OF INSURANCE AND REINSURANCE COMPANIES AND PENSION COMPANIES Official Gazette of Publication: 19.01.2008 26761 Issued By: Prime Ministry

More information

Policy for serving and lending to Micro, small and medium enterprises of India

Policy for serving and lending to Micro, small and medium enterprises of India Policy for serving and lending to Micro, small and medium enterprises of India 1. Background Worldwide, the micro small and medium enterprises (MSMEs) have been accepted as the engine of economic growth

More information

209 CMR: DIVISION OF BANKS AND LOAN AGENCIES 209 CMR 45.00: THE LICENSING AND REGULATION OF CHECK CASHERS

209 CMR: DIVISION OF BANKS AND LOAN AGENCIES 209 CMR 45.00: THE LICENSING AND REGULATION OF CHECK CASHERS 209 CMR 45.00: THE LICENSING AND REGULATION OF CHECK CASHERS Section 45.01: Purpose and Scope 45.02: Definitions 45.03: Applicability 45.04: Application Procedure 45.04A: Mobile Units 45.05: Licensing

More information

APPLICATION FORM FOR SOVEREIGN GOLD BOND 2016 Series II (Put wherever required)

APPLICATION FORM FOR SOVEREIGN GOLD BOND 2016 Series II (Put wherever required) APPLICATION FORM FOR SOVEREIGN GOLD BOND 2016 Series II (Put wherever required) Name of Receiving Office Name of Branch: Mode of Subscription Cash Cheque / DD Electronic Transfer Grams of Gold Applied

More information

Chart of Accounts for Banks

Chart of Accounts for Banks Chart of Accounts for Banks ASSETS Cash and Cash Equivalents 1 0 0 1 Cash in vault 1 0 0 2 Cash in ATM 1 0 0 3 Cash in transit 1 0 0 4 Damaged notes 1 0 0 5 Travellers cheques 1 0 0 6 Items for collection:

More information

Vivek Kohli, Senior Partner, ZEUS Law Associates Rishi Jain, Associate, ZEUS Law Associates

Vivek Kohli, Senior Partner, ZEUS Law Associates Rishi Jain, Associate, ZEUS Law Associates Foreign Currency Exchangeable Bonds: Exploring the New Route for Corporate Debt Vivek Kohli, Senior Partner, ZEUS Law Associates Rishi Jain, Associate, ZEUS Law Associates Published in Journals/Magazines/News

More information

2. Direct debits/electronic payments (RTGS/NEFT)/other debits to accounts

2. Direct debits/electronic payments (RTGS/NEFT)/other debits to accounts Compensation Policy Introduction The objective of this policy is to establish a system whereby the bank compensates the customer for any financial loss he/she might incur due to deficiency in service on

More information

Chamber of Income-tax Consultants Tax deduction at source from payments to Non-residents August 2006 Naresh Ajwani Chartered Accountant

Chamber of Income-tax Consultants Tax deduction at source from payments to Non-residents August 2006 Naresh Ajwani Chartered Accountant Chamber of Income-tax Consultants Tax deduction at source from payments to Non-residents August 2006 Naresh Ajwani Chartered Accountant Importance of the subject: The subject of Tax deduction at source

More information

For Empanelment of Registered Firms of Chartered Accountants for. conduct of Audit of Accounts and also Physical verification

For Empanelment of Registered Firms of Chartered Accountants for. conduct of Audit of Accounts and also Physical verification '... REQUEST FOR PROPOSAL (RFP) For Empanelment of Registered Firms of Chartered Accountants for conduct of Audit of Accounts and also Physical verification of Works executed by the Gram Panchayats of

More information

Credit Card Contract

Credit Card Contract Credit Card Contract Credit Card Booklet Cardholder enquiries & Lost and stolen cards Telephone : (679) 321 4300 Facsimile : (679) 330 3738 BSP/SecDocTemp006 Page 1 of 21 Template Issue No.3 reviewed 19032012

More information

MINISTRY OF ENVIRONMENT AND FORESTS NOTIFICATION. (a) Act means the Public Liability Insurance Act, 1991(16 of 1991);

MINISTRY OF ENVIRONMENT AND FORESTS NOTIFICATION. (a) Act means the Public Liability Insurance Act, 1991(16 of 1991); [To be published in the Gazette of India, Extraordinary, Part-II, Section 3, Sub-section (i)] MINISTRY OF ENVIRONMENT AND FORESTS NOTIFICATION New Delhi, the 4 th November, 2008. G.S.R. 768 (E). In exercise

More information

Proposed Rule XI 20 Approved Depositories for Lawyers Trust Accounts and District of Columbia Interest on Lawyers Trust Accounts Program

Proposed Rule XI 20 Approved Depositories for Lawyers Trust Accounts and District of Columbia Interest on Lawyers Trust Accounts Program Appendix D, Proposed Rule XI 20; February 5, 2009 Proposed Rule XI 20 Approved Depositories for Lawyers Trust Accounts and District of Columbia Interest on Lawyers Trust Accounts Program (a) To be listed

More information

DETAILED OF TENDER PAPER FOR PRINTING & SUPPLY OF FLEXI BOARD UNDER FEEDING PROGRAMMES (SNP/EFP & MDM) FOR THE YEAR 2011-12

DETAILED OF TENDER PAPER FOR PRINTING & SUPPLY OF FLEXI BOARD UNDER FEEDING PROGRAMMES (SNP/EFP & MDM) FOR THE YEAR 2011-12 Notice No. Form Sl. No. DETAILED OF TENDER PAPER FOR PRINTING & SUPPLY OF FLEXI BOARD UNDER FEEDING PROGRAMMES (SNP/EFP & MDM) FOR THE YEAR 2011-12 Name: - Address: 1 DETAILED OF TERMS AND CONDITIONS FOR

More information

TERMS AND CONDITIONS FOR THE ICICI BANK INDIAN RUPEE TRAVEL CARD

TERMS AND CONDITIONS FOR THE ICICI BANK INDIAN RUPEE TRAVEL CARD TERMS AND CONDITIONS FOR THE ICICI BANK INDIAN RUPEE TRAVEL CARD The following terms and conditions ( Terms and Conditions ) apply to the ICICI Bank Travel Card facility provided by ICICI Bank. For your

More information

Direct Tax (Article) Reverse Mortgage Scheme your property pays you a regular income

Direct Tax (Article) Reverse Mortgage Scheme your property pays you a regular income Direct Tax (Article) Reverse Mortgage Scheme your property pays you a regular income The information contained herein is of a general nature and is not intended to address the circumstances of any particular

More information

Act on Mortgage Credit Banks 23.12.1999/1240. Chapter 1 General provisions. Section 1 Definition of a mortgage credit bank

Act on Mortgage Credit Banks 23.12.1999/1240. Chapter 1 General provisions. Section 1 Definition of a mortgage credit bank (Unofficial translation, amendments up to 645/2006 included) Act on Mortgage Credit Banks 23.12.1999/1240 Chapter 1 General provisions Section 1 Definition of a mortgage credit bank A mortgage credit bank

More information

Now I can secure my family s future with just a click.

Now I can secure my family s future with just a click. life insurance Now I can secure my family s future with just a click. New Bharti AXA Life eprotect An affordable online term insurance plan that ensures protection for your loved ones the hassle-free way.

More information

STATEMENT 1 Statement on Assets and Liabilities. Item 31.03...

STATEMENT 1 Statement on Assets and Liabilities. Item 31.03... STATEMENT 1 Statement on Assets and Liabilities Name of the Bank: For the Quarter ended: Liabilities 1. Paid-up Capital: i) Individuals ii) State Government iii) Others Item 31.03... 2. Reserve Fund and

More information

Years of happiness, insured in minutes. Instant insurance, across the counter.

Years of happiness, insured in minutes. Instant insurance, across the counter. Future Generali Instalife Years of happiness, insured in minutes. Instant insurance, across the counter. Call us at: 1800-220-233 (MTNL / BSNL) or 1860-500-3333 (any other service provider). SMS FG to

More information

UNITED BANK OF INDIA

UNITED BANK OF INDIA UNITED BANK OF INDIA COMPENSATION POLICY FOR THE YEAR 2014-2015. 1. INTRODUCTION 1.1 Technological progress in payment and settlement systems and the qualitative changes in operational systems and processes

More information

National Solidarity Bond - Terms and Conditions Issue 4

National Solidarity Bond - Terms and Conditions Issue 4 These terms and conditions set out the agreement between You and Us relating to Your purchase of a National Solidarity Bond (Issue 4) for a 4 year term or, 10 year term, as applicable. Key Features of

More information

Terms & Conditions governing Savings Accounts. To be read in conjunction with Axis Bank Sri Lanka General Terms and Conditions

Terms & Conditions governing Savings Accounts. To be read in conjunction with Axis Bank Sri Lanka General Terms and Conditions Terms & Conditions governing Savings Accounts To be read in conjunction with Axis Bank Sri Lanka General Terms and Conditions Contents 1. Scope of this document...1 2. Product details and features...1

More information

15. Give the following particulars of the capital asset converted into stock-in-trade:

15. Give the following particulars of the capital asset converted into stock-in-trade: FORM NO. 3CD [See rule 6 G(2)] Statement of particulars required to be furnished under section 44AB of the Income-tax Act, 1961 PART A 1. Name of the assessee 2. Address 3. Permanent Account Number (PAN)

More information

THE LAW OF GEORGIA ON NON-BANK DEPOSITORY INSTITUTIONS - CREDIT UNIONS

THE LAW OF GEORGIA ON NON-BANK DEPOSITORY INSTITUTIONS - CREDIT UNIONS THE LAW OF GEORGIA ON NON-BANK DEPOSITORY INSTITUTIONS - CREDIT UNIONS CHAPTER I General Provisions Article 1. Definitions of Terms The terms used in this Law, shall have the following meanings: a) Non-bank

More information

Aapki Zaroorat - Education Funding Edelweiss Tokio Life EduSave [A Non-Linked Participating Life Insurance Plan]

Aapki Zaroorat - Education Funding Edelweiss Tokio Life EduSave [A Non-Linked Participating Life Insurance Plan] Aapki Zaroorat - Education Funding Edelweiss Tokio Life EduSave [A Non-Linked Participating Life Insurance Plan] Toll Free : 1800 2121212 Email : care@edelweisstokio.in Visit us at www.edelweisstokio.in

More information

Lawyers of LF «Dmitrieva & Partners» have prepared the list of top news in the field of taxation for the last two weeks

Lawyers of LF «Dmitrieva & Partners» have prepared the list of top news in the field of taxation for the last two weeks REVIEW OF THE MAIN EVENTS IN THE SPHERE OF TAXATION Lawyers of LF «Dmitrieva & Partners» have prepared the list of top news in the field of taxation for the last two weeks The State Fiscal Service of Ukraine

More information

The finer details. ANZ Loan. Terms and conditions

The finer details. ANZ Loan. Terms and conditions The finer details ANZ Loan Terms and conditions Everything you need to know about the terms and conditions of your ANZ loan Thank you for choosing an ANZ loan. When you take out a loan, both you and ANZ

More information

THREADNEEDLE NAVIGATOR INDIVIDUAL SAVINGS ACCOUNT (STOCKS AND SHARES COMPONENT) Terms and Conditions

THREADNEEDLE NAVIGATOR INDIVIDUAL SAVINGS ACCOUNT (STOCKS AND SHARES COMPONENT) Terms and Conditions THREADNEEDLE NAVIGATOR INDIVIDUAL SAVINGS ACCOUNT (STOCKS AND SHARES COMPONENT) Terms and Conditions threadneedle.com Contents 1. Definitions... 1 2. Our agreement with you... 2 3. Eligibility... 2 4.

More information

Tata AIA Life Insurance Insta Wealth Plan

Tata AIA Life Insurance Insta Wealth Plan Tata AIA Life Insurance Insta Wealth Plan Tata AIA Life Insurance Insta Wealth Plan (A Non Linked Participating Endowment Assurance Plan) In today's fast paced life, we all like to keep things simple.

More information

Always more than you can ask for!

Always more than you can ask for! Reliance Life Insurance Super Endowment Plan Always more than you can ask for! Just pay for half the term and enjoy benefits for full policy term plus get high return on your investments Reliance Life

More information

Code of Ethics Effective June 1, 2015

Code of Ethics Effective June 1, 2015 Code of Ethics Effective June 1, 2015 APPLICABLE RULES AND REGULATIONS Rule 17j-1 of the Investment Company Act of 1940, as amended Rule 204A-1 of the Investment Advisers Act of 1940, as amended I. POLICY

More information

* SBI Life - RiNn Raksha will be referred to as RiNn Raksha hereafter.

* SBI Life - RiNn Raksha will be referred to as RiNn Raksha hereafter. Need for Group Credit Life Insurance SBI Life Insurance Company Limited (SBI Life) offers SBI Life RiNn Raksha*, a feature-rich Group Credit Life Insurance product to pay off the outstanding loan offered

More information

Client Asset Requirements. Under S.I No.60 of 2007 European Communities (Markets in Financial Instruments) Regulations 2007

Client Asset Requirements. Under S.I No.60 of 2007 European Communities (Markets in Financial Instruments) Regulations 2007 Client Asset Requirements Under S.I No.60 of 2007 European Communities (Markets in Financial Instruments) Regulations 2007 Instructions Paper November 2007 1 Contents 1 Contents 2 Introduction 1 2.1 Scope

More information

Bank Branch Audit Program / Illustrative Checklist Time & Manpower planning Sr. N. Designation &

Bank Branch Audit Program / Illustrative Checklist Time & Manpower planning Sr. N. Designation & Bank Branch Audit Program / Illustrative Checklist Time & Manpower planning Sr ame of the person Designation & Estimated time for work Initials of the Audit Program Sr o A B C General - Pre Audit Work

More information