E-GYAN
STATE BANK LEARNING CENTER MASULIPATNAM STATE BANK LEARNING CENTER MASULIPATNAM
STATE BANK LEARNING CENTER MASULIPATNAM
E-GYAN, PART-9 May-2014
FOREWORD
Alexander the Great, after having conquered half of the world, was still very sad. When ased for the reason, he said, !" never new success could #e such a failure.$ "n this context, success was really a failure. %uccess &ade the seeer loo outside oneself for satisfaction. 'e did not loo at who was the seeer. (he seeer was #usy seeing soðing outside. "t is lie an old lady who was searching for a coin under the street light. %he has dro))ed it inside her hut, #ut decided to search under the light #ecause it was dar inside the hut.
Only when you have learned to loo within will real *oy o)ens. Discovering the inner source of *oy is the real success. "n the state of dee) slee) all of us are ha))y and that ha))iness co&es not fro& outside #ut fro& within. Our s&all contri#ution to the %+" co&&unity in the direction of creating awareness is the current release of eG-A for /ay, 0123 which e&)hasi4es on conce)tual clarity, )rocess integrity and )rocedural consistency in the field of day to day #aning )ractices and ex)lores the causes and consequences of various ty)ical situations. 'o)e you lie it5 We dee)ly acnowledge the ins)iration derived fro& our De)uty General /anager 6 7ircle Dev Officer %hri.Radharishna Raya#hara& , Asst General /anager 8'R9 %hri. R.%.. /urthy and 7hief /anager 8:6D9 %hri. /.%ai#a#a which resulted in co&ing out with the eeditions.
D.%-A/ ;RA%AD A%%"%(A( GEERA: /AAGER %(A(E +A< :EAR"G 7E(ER /A%=:";A(A/
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PRIORITY SECTOR LENDING – TARGETS AND CLASSIFICATION (As on February 01, 2014) Compiled by Sri M Sai Chakradhar, Chief Manager (Training)) 1. What is meant by Priority Sector?
Priority sector refers to those sectors of the economy which may not get timely and adequate credit in the absence of this special dispensation. Typically, these are small value loans to farmers for agriculture and allied activities, micro and small enterprises, poor people for housing, students for education and other low income groups and weaker sections. 2. What are the different categories under priority sector?
Priority Sector includes the following categories: (i) Agriculture (ii) Micro and Small Enterprises (iii) Education (iv) Housing (v) Export Credit (vi) Others 3. What are the Targets and Sub-targets for banks under priority sector?
Categories
Domestic commercial banks / Foreign Foreign banks with less than 20 banks with 20 and above branches (As branches (As percent of ANBC percent of ANBC or Credit Equivalent of or Credit Equivalent of OffOff-Balance Sheet Exposure, whichever Balance Sheet Exposure, is higher) whichever is higher) Total Priority Sector 40 32 Total agriculture 18 No specific target. Advances to Weaker 10 No specific target. Sections 4. What constitutes 'Direct Finance' for Agricultural Purposes?
(i) Loans to individual farmers [including Self Help Groups (SHGs) or Joint Liability Groups (JLGs), i.e. groups of individual farmers] engaged in Agriculture and Allied Activities, viz., dairy, fishery, animal husbandry, poultry, bee-keeping and sericulture. (ii) Loans to Corporates including farmers' producer companies of individual farmers,
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partnership firms and co-operatives of farmers directly engaged in Agriculture and Allied Activities, viz., dairy, fishery, animal husbandry, poultry, bee-keeping and sericultureup to an aggregate limit of `2 crore per borrower. (iii) Loans to small and marginal farmers for purchase of land for agricultural purposes. (iv) Loans to distressed farmers indebted to non-institutional lenders. (v) Bank loans to Primary Agricultural Credit Societies (PACS), Farmers’ Service Societies (FSS) and Large-sized Adivasi Multi Purpose Societies (LAMPS) ceded to or managed/ controlled by such banks for on lending to farmers for agricultural and allied activities. 5. What constitutes 'Indirect Finance' to Agriculture?
(i) If the aggregate loan limit per borrower is more than `2 crore in respect of para. (4) (ii) above, the entire loan will be treated as indirect finance to agriculture. (ii) Loans upto `5 crore to Producer Companies set up exclusively by only small and marginal farmers under Part IXA of Companies Act, 1956 for agricultural and allied activities. (iii) Bank loans to Primary Agricultural Credit Societies (PACS), Farmers’ Service Societies (FSS) and Large-sized Adivasi Multi Purpose Societies (LAMPS). 6. What constitutes Micro and Small Enterprises under priority sector?
Bank loans to Micro and Small Manufacturing and Service Enterprises, provided these units satisfy the criteria for investment in plant machinery/equipment as per MSMED Act 2006. Manufacturing sector Investment in plant and machinery Enterprises Micro Enterprises Do not exceed twenty five lakh rupees Small Enterprises More than twenty fivelakh rupees but does not exceed five crore rupees Service Industry Investment in equipment Enterprises Micro Enterprises Does not exceed ten lakh rupees Small Enterprises More than ten lakh rupees but does not exceed two crore rupees
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7. What is the loan limit for education under priority sector?
Loans to individuals for educational purposes including vocational courses upto `10 lakh for studies in India and `20 lakh for studies abroad are included under priority sector. 8. What is the limit for housing loans under priority sector?
Loans to individuals up to `25 lakh in metropolitan centres with population above ten lakh and `15 lakh in other centres for purchase/construction of a dwelling unit per family excluding loans sanctioned to bank’s own employees. 9. What is included under Weaker Sections under priority sector?
Priority sector loans to the following borrowers are considered under Weaker Sections category:(a) Small and marginal farmers; (b) Artisans, village and cottage industries where individual credit limits do not exc eed `50,000; (c) Beneficiaries of Swarnjayanti Gram Swarozgar Yojana (SGSY), now National Rural Livelihood Mission (NRLM); (d) Scheduled Castes and Scheduled Tribes; (e) Beneficiaries of Differential Rate of Interest (DRI) scheme; (f) Beneficiaries under Swarna Jayanti Shahari Rozgar Yojana (SJSR Y); (g) Beneficiaries under the Scheme for Rehabilitation of Manual Scave ngers (SRMS); (h) Loans to Self Help Groups; (i) Loans to distressed farmers indebted to non-institutional lenders; (j) Loans to distressed persons other than farmers not exceeding `50,000 per borrower to prepay their debt to non-institutional lenders; (k) Loans to individual women beneficiaries upto `50,000 per borrower; 10. What is the rate of interest for loans under priority sector?
The rate of interest on various priority sector loans will be as per RBI’s directives issued from time to time, which is linked to e-gyan by SBLC, Masulipatnam, May, 2014
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Top 10 economic challenges that Mr Modi Govt. faces Compiled by: S.Sivajee,Mgr(Trg).
Prime Minister Mr Narendra Modi has promised to unblock stalled investments in power, road and rail projects to revive economic growth that has fallen to a decade low of below 5 per cent. Here are the list of Top 10 economic challenges that Mr Modi Govt. faces: Goods and Services Tax (GST):
India's most ambitious indirect tax reform would replace existing state and central levies with a uniform tax, boosting revenue collection while cutting business transaction costs. GST, which could boost India's economy by up to two percentage points, has so far faced resistance from various states, including those governed by the BJP who fear a loss of their fiscal powers. The BJP aims to address state concerns and implement GST in an "appropriate timeframe". The Congress party would back the reform in opposition, a senior party member told Reuters earlier this month. The reform needs broad backing because it requires a change in the constitution. Central bank policies:
A Reserve Bank of India panel in January proposed key changes including targeting consumer price inflation and making a committee responsible for monetary policy, and not the RBI Governor alone. This would require changes to the RBI Act. The BJP top brass has not spoken widely on the issue, but it will likely be a tough sell for RBI Governor Raghuram Rajan. He has the backing of some global agencies like the International Monetary Fund. Mr Modi's government may also look to eventually separate the debt management function from the RBI, on the grounds that debt management sometimes conflicts with the central bank's monetary policy stance. Privatisation:
The new government is likely to focus on selling its holdings in state-run firms that could raise much-needed revenues to trim India's ballooning fiscal deficit and boost economic growth. The rising stock market helped New Delhi raise more than $3 billion (Rs. 18,000 crore at 60 rupees per dollar) via stake sales in the
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fiscal year to March 31 - but that was only a third of the government's original target. The outgoing government announced plans to raise Rs. 56,900 crore through asset sales in 2014-15. This could help achieve a lower fiscal deficit target of 4.1 per cent of GDP. These estimates may be revised by the next government. Subsidies:
Mr Modi's government needs to examine how it subsidises basic commodities if it is to contain the fiscal deficit and avoid a ratings downgrade. Subsidies cost an estimated 2.2 per cent of India's GDP in 2013-14. The BJP in its manifesto said it will seek greater fiscal discipline without compromising on the availability of funds for development. Labour:
The BJP wants to reform labour laws to boost job-intensive manufacturing and create as many as 1 crore jobs a year for young Indians entering the workforce. Changing the law would be politically tricky, though, and Mr Modi may seek to encourage competition between India's states to boost job creation. Defence:
More foreign investment in defence would help India reduce imports, modernise weapons systems and speed up deliveries of hardware it needs for operations and training. India, the world's biggest arms importer, now allows 26 per cent foreign ownership in defence, and proposals to exceed that limit are considered only for state-of-the-art technology. The BJP has said it would allow some greater foreign investment in defence industries. Insurance:
Attempts to raise the cap on foreign investment in India's $45 billion (Rs. 2.70 lakh crore) insurance sector, to 49 per cent from 26 per cent, have met resistance from employees at state-controlled insurers and their political backers. A BJP leader said in March the party had held talks with Congress to break the deadlock.
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Banking:
The new government will need to help state-run lenders battling rising bad loans caused by the slowing economy, rising interest rates and project delays. Stressed loans in India - either bad or restructured - total $100 billion (Rs. 6 lakh crore), or about 10 per cent of all loans. Fitch Ratings expects that ratio to reach 14 per cent by March 2015. Rising bad loans threaten to choke the gradual recovery in Asia's third-largest economy, according to the OECD. The interim budget in February set aside Rs. 11,200 crore to help the sector meet key capital ratios, but analysts say more money is needed. Power:
A BJP-led government may implement the so-called Gujarat model of distributing electricity that has been widely praised for delivering reliable 24-hour power supplies in the state. Mr Modi provided different power feeds to farmers, households, and companies instead of a uniform feed in his home state. Gas pricing:
In January, India notified the new gas pricing formula that could double the prices of locally produced gas from April 1, but the poll regulator stopped the government from raising the prices until the elections are over. Reliance Industries and its partners BP and Niko Resources last week issued a notice of arbitration to the government seeking implementation of higher gas prices. The BJP-led government may review the formula on the lines suggested by a senior party leader last year and announce the date of implementation of new prices.
** ** **
Source : NDTV Profit .
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INDIAN BANKING AT CROSSROADS – CHALLENGE OF RISK MANAGEMENT FROM GLOBALISATION TO FINANCIAL INCLUSION Compiled By Sri. R.Prabhakara Rao, Manager (Training)
Most business activities and operations are driven by considerations of returns or profitability.
However t h e
se ar ch
for returns exposes the
businesses to risks. Also risks escalate and multiply with returns sought –
banks are no different; only the element of riskiness in the banks’ business operations
is
higher
as they
not
onl y carry
out
and
t heir operations with
borrowed money and with high levera ge but al so attempt to provide a vast range of financial se rvices.
Banks perform multifarious functions . However
financial
intermediation and
maturity transformation are by far the most significant activities performed by
banks.
Banks esse ntiall y have a liquid liability profile, as agains t an illiquid
asse t profil e, which makes them vulnerable to runs and alone, they generate or are
in this process
exposed to different types of risks.
Credit,
market and operational risks are t h e three pr imar y risks that have a substantial bea ring on the perf ormance of banks.
There are a number of other types of
risks, emanating both from within and without that the banks are exposed to in their day to day functioning.
As the banks perform this rol e of intermediation in fiducia ry capacity, ensuring
a balance between the risks and returns assumes significance and the effort towards achieving this balance can b e referred to as risk management. The
various financial cri sis of the past
robust banks.
risk
management
brought to the fore the
practices
Progressive technological
e-gyan by SBLC, Masulipatnam, May, 2014
in
financial
importance
institutions
of
including
developments and advanced modelling
Page
techniques have, however, rendered risk management a highly compl ex and sophisticated discipline lat el y. Risk
management can
be
defined as a
measurement, monitoring and appropriate to
the
commensurate
with
risk
of risk
identification,
reporting to ensure that the returns are
and
the
risks
appe tite
and
risk
undertaken
risk
the
function
undertaken
tolerance.
are Risk
management has to ensure that the bank holds adequate capital and
reserves to make
sure that its solvency and stability are not threatened,
both in the short and the long run. As a response to the global financial crisis, a package of reforms collectivel y
ref erred
to as Basel
has been unlea shed
III
of the global
as part
regulatory eff ort to enhance the soundness and resilience of the banking system. These reforms focus on capital, liquidity, l everage and macro prudential aspects of banking ris k management.
improve the holds and
quali ty and
Bas el
III,
on one hand,
quantity of loss absorbing capit al that
a bank
aims at increasing the risk coverage of the capital framework, in
particular for trading activities, securitis ations exposures vehicles
sheet
attempts to
derivatives.
and
counterparty
to
off -balance
credit exposures arising out of
On the other hand, it has devised regulation for dealing with
syste mic risk by prescribing countercyclical capit al requirement, to cont ain pro-cyclicality and a
for G- SIBs and D-SIBs has also been laid
frame work
down to manage risks arising from inter-connectedness. An internationall y harmonised Leverage Ratio has been introduced as a simple back-stop facility to complement the risk based capital framework
order
to
contain
build-up
of
excessive
leverage
in
in
the system and
compris es of 3% loss absorbing capital relative to all of a bank’s assets,
including
off-balance
enhancements have
sheet
a ssets
without
als o been introduced to
e-gyan by SBLC, Masulipatnam, May, 2014
risk
weighting.
the Bas el
Certain
II frame work
by
Page 10
raising standards for the supervisory review process
and public dis closures
under Pill ar 2 and 3, together with additional guidance in the areas of sound valuation practices, stress testing, liquidity risk management, corporate governance and compens ation. The liquidity requirements include a minimum liquidity coverage ratio (LCR) intended to provide enough cash to cover funding needs over a 30-day period of stress. As such under LCR, the banks will be
required to hold a buffer of high-quality liquid asse ts sufficient to deal with cash outflows encountered in acute short-term stress
long-term spectrum, the net stable
funding
scenario. At the
ratio (NSFR) is intended to
address maturity mismatches over the entire balance sheet for upto one year and provides incentives for banks to use stable sources to
fund
their
activities. The proposals for the G-SIBS are tougher, to include combina tions
of capital surcharges, contingent capit al and bail -in debt as also strengthened arrangements for cross border supervision and resolution in view of the higher comple xity, connectedness and riskiness.
The
Reserve Bank
too
adopted a
has
proactive
and
calibrated
approach towards demanding and facilitating robust risk management efforts
by the banks.
Reserve Bank has been adopting a considered approach of
limiting the sys temic ris k originating f rom both the pro - cyclicality as well as interconnectedness dimensions. For example, countercyclical measures
were adopted as early as 2004 to s tall heating up sectors
by
increa sing
the
risk
weights
of
certain
specific
and provisioning ratios for
sensitive sectors such as capital market, housing, commercial real estate during the period when the boom was building up.
Several measures
were taken to reduce the inte r-connectedness among banks on the one hand and between banks and NBFCs on the other, to address the crosssectional dimension of systemic risk and regulatory li mits have been placed on exposures to capital market exposures. Such macro -prudential approach,
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which was not widely prevalent then, s a v e d the domestic economy from the
adverse shocks during the height of the cri sis. Implementation
of Basel
III
Capital Regula tions has commenced in India from
April 1, 2013; and it will also be in phases, and would be fully implemented as
on March 31, 2019 close to the internationall y agreed Basel
III
transitional
arrangement.
As against the minimum Tier 1 leverage
ratio of 3 per cent proposed
by the Basel Committee of Banking Supervision (Basel Committee)
during
the parall el run period beginning f rom January 1, 2013 to January 1, 2017, the Reserve bank has prescribed a minimum Tier 1 leverage ratio of 4.5 per cent during the parall el run period. The leverage being revised i n
line with the
ratio
framework
is
recent propos als of the Basel Committee.
A survey on banking risk management, conducted under the aegis of the Inst itut e of International Finance, sees a renewed f ocus on risk culture. It reports that risk culture is now at centre stage and banks have made significant progress toward changing thei r risk governance frameworks in the wake of the financial
crisis. Board risk committees are nearly universal, and members have
received appropriate training in risk management. The role of the chief risk officer has broadened, while i ts seniority and status have been enhanced.
They now report either to the chief executive officer or jointly to the CEO and
risk
committee. However, th e survey la me n ts that the industry continues
to wrestl e with the process of embedding risk culture beyond the boardroom and into business units whil e ensuring adequate risk transparency.
Risk appetite continues to be an essential part of risk governance, but the
industry continues to be challenged to embed risk appetite into business decisions. The
financial
services industry recognize d during the financial
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Page 12
cri sis that boards needed to change focus from share price and profit ability
to the risks entailed in their strategies. Also, chief risk officers needed to be empowered to create cult ural change wi thin thei r organi zations.
One of the
challenges that banks face in developing comprehensive risk
measurement models are the scarcity of avail able historical and time series loss data and the quality, completeness and reliability of the data avail able.
The regulatory initiatives as also the banks’ individual efforts in this direction have certainly i mproved the risk management standards in Indian banks in the
last
few
years.
Since the
initiation of structural reforms in the
Indian
banking sector in 1991, the reach and business volumes of Indian banks
have increased many fold; the operations have grown and assumed higher degree of sophi stication. The Indian banks' current capital base and liquidity position are broadl y comfortable, as a starting point, vis-a-vis the Bas el
III
guidelines
Asset quality is an important parameter to measure the health of the
and
concomitant
with
asse t
quality
is the
banks
provisioning coverage that
banks hold agains t stressed asse ts. Asset quality of the Indian banking system had improved significantly since introduction of prudential norms,
S AR F A E SI Act, CDR Mechanism, Credi t Information Companies, etc. All Indian
banks, including
foreign
standardi zed approaches of Bas el
Large
sized
been
encouraged to adopt
Indian
banks and
banks in II
by March
Indi a,
migrated
to the
31, 2009 in two phas es.
banks with international presence have
the
Basel
II
advanced
approaches
f or
computation of capital for credit, market and operational risk.
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A n o t h e r very significant aspect of the bank operations, just corporate entity,
and
that
is the
as in any
commercial aspect viz.,
profitabili ty
management. Profitability in banks, as in the corporates, is reflective of the financial
well -being, health and robustness of the
bearing on its capital formation ability.
has a direct
On the flip side, if the bank’s strategies,
business models, planning and operations and obsol ete or outdated or
entity and
risk management
are
weak,
not in tune with the macro-economic environment,
the income flowing there from may be low or may end up in losses. Profitability is impacted by the business decisions of the bank, the business model it
pursues, quality and type of asset base as also by operational efficiencies
and any noteworthy s h i f t in it s strategies and policies. The risk profile of a bank can als o be gauged from its income and e xpenditure statement to
a great extent.
However, curre ntl y alignment of the risk management and
profitability management ob jectives is not so much in focus .
Over the years and especiall y in the wake of the lea rnings from the global financial
improving
crisis, banks have
risk
enhanced their efforts in the
management practices
as
I
have
direction of
enumerated earlier.
However, going forward much work still remains.
SOURCE: Excerpts from delivered by Shri R Gandhi on the occasion of seminar on Banking organized by Indian Merchant’s Chamber Assistance.
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DISCLAIMER “We have made every effort to provide best solutions for the queries raised by the operating staff in KHL. However, the readers of this magazine are advised to go through the Bank’s Circulars, publications and seek advice from the Controllers or experts before taking any action or decision based on the information, material contained in this e-magazine.SBI/SBLC do not accept any liability for any damage or loss of any kind, howsoever caused or of any nature whatsoever as a result (direct or indirect) of the use of the information, material contained in this e-magazine.” We solicit suggestions/ feedback to
[email protected] for improvement of this magazine, e-gyan.
SIR, ONE OF OUR BORROWER HAS APPROACHED OUR BPROUTFIT FOR CONVERSION OF EXISTING CASH CREDIT LIMIT TO TERM LOAN. PLEASE CLARIFY WHETHER WE CAN CONSIDER THEIR REQUEST. PLEASE ARRANGE TO PROVIDE US VIDE CIRCULAR REFERENCE FOR CONVERSION OF EXISTING CASH CREDIT INTO TERM LOAN FOR OUR REFERENCE AT THE EARLIEST. Sir, Cash Credit is payable on demand, if at the time of review/ renewal if the branch officials feels that the account is not running according to the terms of sanction, we may call up on the entire advances, if required we may fix limit reduction programme at the mutually agreed period not exceeding upto 36 months, with the approval of the sanctioning authority, this way we can help the borrower, but there is no such facility like converting a CC into Term Loan.
How can we send a statement of softcopy to a customer? Also how to update mail id in cif Sir, Please go through the following menu. Reports->Initiate request for host reports-> screen no.69088 will open. Give the following details: Function: Create Institution Code :3 In the field `Request branch input branch code. In the field `Report ID: Input IN055A, Give details in the fields` From date, `To date and Give account number in respective field and then Transmit. System will generate a reference number. You can find the statement in the branch server, which can be copied as a soft copy.
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DEAR SIR, FOR A CURRENT ACCOUNT INB FACILITY HAS BEEN AS KHATA, AS CUSTOMER
REQUESTED
FOR
TRANSACTION
RIGHTS,
IT
HAS
BEEN
UPGRADED TO VYAPAAR. BUT THE CUSTOMER IS ONLY A SINGLE USER, HOW TO CHANGE IT TO SARAL? PLEASE ADVICE Sir/ Madam, One should be cautious while providing INB Access as there are lot of financial implications as the transfer limits are also high, you can now deactivate the CINB Vyapaar facility in Branch Interface and issue Saral in CBS. If the problem is not solved, please seek assistance from CINB Department available in Alternate Channels.
DEAR SIR PLZ PROVIDE STAMP DUTY CIRCULAR IN AGRI SEGMENT SIR HOW MUCH STAMP DUTY FOR AB 1 IN CASE AG TERM LOAN SIR HOW MUCH STAMP DUTY FOR AB 1 IN CASE AG CASH CREDIT Sir, Bank is not issuing stamp duty circular. Stamp duty is state government issue, so you can get it from Sub Registration office. For AB1, it is 0.50% of loan amount for TL and CC. I will send soft copy to your e-mail regarding stamp duty for various segment and facility.
What is the maximum premium to be paid by a KCC Borrower under PAIS ? ANSWER IN WINGS--RS.5 IN SBLC,DEOGARH--RS.15 WHAT IS THE CORRECT ANSWER? The premium under PAIS is Rs.15.00 per borrower per year which is to be shared @ Rs.5.00 by borrower and Rs.10.00 by bank. The premium can also be paid in advance for a period of 3 years ( as earlier the KCC is to be issued for 3 years), so the premium for 3 years was Rs. 45.00 ( shared atRs. 15.00 by borrower and Rs.30.00 by bank )
Sir, We propose to break open 70 lockers. In this connection we need appropriate format of panchanama certificate for witnessing the event. Sir, For the instructions regarding breakopen of lockers please refer to e-Circular NBG/PBU/LIMA-SDL/23/2007 - 08 dated Thursday,November 22,2007, wherein the relative annexures are also enclosed. e-gyan by SBLC, Masulipatnam, May, 2014
Page 16
If one opens PPF account in the name of his mentally handicapped minor son, what will be the procedure for payment of proceeds at the time of maturity, when the boy becomes major; similarly, what is the operational procedure for the SB accounts opened in the name of mentally handicapped persons Sir/ Madam, As per Master Circular on Savings Bank Accounts (opening of accounts) 2.8. Accounts in the names of persons with Austism, Cerebral palsy, Mental retardation and Multiple disabilities i. As per the Multiple Disabilities Act, 1999 a legal guardian so appointed can open and operate the bank account as long as he remains the legal guardian. ii. The provisions of Mental Health Act, 1987 also allows appointment of Guardian by District Courts. iii. Branches are therefore advised to rely upon the Guardianship Certificate issued either by the District Court under Mental Health Act or by the Local Level Committees under the above Act for the purposes of opening / operating such accounts. Branches have to ensure giving proper guidance so that the parents / relatives of the disabled persons do not face any difficulty in this regard. The same rules will be applied for opening of PPF account also.
Dear sir, if both wife and husband works in state bank of india in award staff designation, are they both eligible for LFC, can they both claime LFC in different financial years?? thanking you sir Dear Sir, Please go through SB Times>Human Resources>What's New>HR Handbook Volume II> Chapter 12 (Leave Rules). Page No 211 and 223 clarify the query. It says that, "Where the husband and wife are both working in our bank, although each will be entitled to home travel concession/leave fare concession in his/her own right, the family including the husband and wife taken together will not be eligible for the concession more than once in the relative period."
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