FROM THE EDITOR’S DESK

Comrades,

It is heart-wrenching to see that the side-effects of unbridled capitalism are slowly but

gradually eating into the roots of the Indian economy, thanks to an amnesiac brand of

intellectually-starved policy makers and a myopic Government that seems concerned only

about protecting the interests of the corporate class at the obvious cost of the bigger section of

the country's populace. We are being witness to a saga involving the destruction of a carefully

regimented brand of welfare economics. Although quite farfetched, blowing the whistle could

go a long way in resurrecting the situation. This is exactly what this editorial intends to do -

propel the members into protest and action and thereby democratically compel the

Government to backtrack from its self-destructive mode.

While the current dispensation at the centre is liberally issuing licenses to private enterprises

to set up Universal Banks, Payment Banks and Small Banks; there are plans afoot to merge and

consolidate the Public Sector Banks (PSBs), a definite precursor to the dreaded privatization.

It is a travesty that the Narendra Modi-led Government, which came to power on the promise

of effecting a major economic rehaul, is treading the same beaten path followed by the much-

maligned UPA II. The erstwhile Minister of Finance Mr. P. Chidambaram only mooted the

proposal. However, the current office-bearer Mr. Arun Jaitley seems to have already developed

the framework to go ahead with the concerned economically regressive and socially

detrimental step.

It is no longer a myth that the BJP-led NDA Government is a puppet at the hands of the India

Inc. (mainly corporates), the doyens of which are practically running the affairs of the country.

It is important to understand here that the formal banking sector in the country needs

immediate expansion and not consolidation. Numbers seldom paint a false story. So, let us

look at some hard statistics for a change. [While there are forty (40) branches serving a

population base of 1,00,000 in the other BRIC countries, India has only eleven (11) branches

serving an identical population base.] It is a stark irony of sorts that the Government at the

centre is taking recourse to such anti-people steps at the behest of the profit-minded and selfish

corporate entities. With each passing day, the sheer amount of Non-performing Assets (NPAs)

is increasing. Instead of developing an effective strategy to counter this menace, consolidation

and consequent privatization are being mulled.

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* Source RBI Report 2013.

The government maintains that its emphasis is to create a portfolio-based banking system. If

that be the case, it could be pertinent to ask the government as to why was IDBI Bank converted

into a commercial bank and distanced from its earlier core area of financing infrastructural

projects. Past experiences with consolidations haven't been too sweet either, with obvious

examples being the mergers of New Bank of India with Punjab National Bank and Global Trust Bank

with Oriental Bank of Commerce. None of those merged entities could perform better than what

they had been doing before the merger processes was effected.

It is important to comprehend that such steps are only going to dilute the deliverance of

banking services to the poorer and exploited sections of the society, the primary responsibility

of the Public Sector Banks (PSBs). It is painful to note that not too many stakeholders are being

able to grasp the gravity of the situation. The Government seems to have succeeded in creating

a smokescreen to divert the attention of the citizens to issues that are not even half as important

as the one we are discussing at this point in time.

In view of the evolving situation, it is the need of the hour to devise concrete strategies to

thwart such counterproductive measures. Not only do we have to keep on protesting on the

organizational front, we need to educate the common citizenry as well on the ill-effects of bank

privatization so that a joint movement could be initiated in conjunction with the civil society.

Consequently, we have to come out with literature containing hard facts and figures such that

people could garner a reasonably good idea about the current economic state of affairs.

If sufficient resistance is created against the implementation of these neo-fascist and neo-

imperialist strictures, there is a strong possibility that the Government might be impeded in its

efforts. There can't be any doubt on the universal applicability of welfare economics in a

country like India. The World Trade Organization (WTO) can't start dictating the terms of the

developed world on our country. Together we can is a thing of the past and together we will

has to be the present slogan! Democracy will eventually win and imperialism, economic in its

current avatar, will go down the path of oblivion! Long live our solidarity.

With revolutionary greetings...

(Rupam Roy)General Secretary

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BANKING NEWS

FATCA

In compliance with FATCA and CRS regulations, all channels through which accounts are

opened have to be made FATCA and CRS compliant. Accordingly, a new field "FATCA

ENABLED" has been added in the bulk file uploading format. The system will allow opening

of account only if the FATCA Enabled field is" No" otherwise an error message will be displayed

and the account cannot be opened through bulk file upload facility. Such accounts can be

opened over the counter by obtaining additional account opening form for FATCA, and details

entered in CBS.

Reserve Bank of India (RBI) governor Raghuram Rajan will return to his teaching job at the

University of Chicago after his term with the central bank ends in September. In a message to RBI

staff on Saturday which was released on the central bank's website, Rajan said he will not continue

in his current job after September 4.

Nationalised banks have requested the Joint Committee of Parliament on the Enforcement of

Security Interest and Recovery of Debts Laws and Miscellaneous Provisions Bill to make stronger

provisions in the proposed legislation to help banks to make debt recovery an easier process.

They have also sought more powers to deal with asset recovery.

AGENCY CLEARING SCHEME : REAL TIME FUNDS SETTLEMENT REVISED

ACCOUNTING PROCEDURE FOR AUTOMATION OF FUND SETTLEMENT AND AUTO

RECONCILIATION OF ENTRIES BETWEEN SBI AND ASSOCIATE BANKS WITH EFFECT

FROM 03.07.2016.

SBIs Arundhati Bhattacharya may get 1-year Extension

SBI to Raise $ 1.5 b via Offshore Bonds.

Indian Rupee Downslide Continues, Falls 11 paise to 67.59 in early trade Press Trust of India.

State Bank of India has inked agreements with the World Bank for a $625-million (around Rs.

4,200 crore) facility to support grid connected rooftop solar programme in the country.

Payments bank : RIL, SBI ink pact

SBI To Raise Over Rs. 10,000 Crore By Issuing Bonds

PERSONAL BANKING ADVANCES XPRESS CREDIT LOANS SCHEME APPRAISAL AND

SANCTION OF LOAN

The Appraisal / assessment and Sanctioning of Xpress Credit Loans are required to be done by

two different officials. In view of this, we have to advise that the instructions contained in circular

dated 20.06.2016 should be read in conjunction with the Xpress Credit Loan guidelines i.e., the

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job of Detailed Data Entry (DDE) in LOS for Xpress Credit Loans can be allotted to clerical staff

only in case the input documents have been authenticated by a supervising official other than the

Underwriter i.e., loan 31.12.2016. We propose to carry out online fire safety audit of ATMs with

effect from 01.01.2017, for which detailed instructions, by way of an SOP on fire safety

management in the Bank, is being circulated to Circles shortly.

In order to increase our share in Education Loan for studies abroad category, a new EL Scheme

SBI GLOBAL ED-VANTAGE, with minimum loan amount of Rs. 20 lacs and maximum upto Rs

1.5 crs , has been launched by PBU. These loans will be fully secured by tangible collateral security.

After launching of this scheme, PBU, has reduced the maximum loan limit under SBI Student

Loan Scheme to Rs. 20 lacs from existing Rs. 30 lacs. Subsequently, SBI GLOBAL ED-VANTAGE

scheme, was made applicable to wards of staff, on the same terms and conditions (as against

concessional terms existing under SBI Student Loan Scheme) as applicable to the public, vide

Circular no. NBG/PBU/PL-PERLOANS/3/2016-17 dated April 07, 2016. As a result, our staff are

now eligible, to take education loans under Student Loan Scheme, at concessional rate of interest,

only upto Rs. 20 lacs, which is proving inadequate especially for studies in those countries specified

in the Global Ed-vantage scheme. Central Human Resources Committee vide its meeting dated

23/05/2016 approved extension of certain relaxations/ concessions for the wards of staff.

HDFC Bank to focus on digital platform for sustained growth.

SBI Card, a subsidiary of State Bank of India, would go for co-branding of credit cards with

more other banks which do not have big back-office support.

Banks move Supreme Court against Mallya for contempt.

SBI signs pact with IIT Bombay-hosted business incubator

Syndicate Bank raises Rs. 930 crore via Basel III compliant bonds.

Seven Indian companies have made it to the latest Fortune 500 list of the world's biggest

corporations in terms of revenue, with the retail giant Walmart topping the global rankings.

The top 10 brands of 2015- 16 include Tata, LIC ($ 6.6 billion), Airtel ($ 5.7 billion), SBI ($ 5.7

billion), Infosys ($ 4.7 billion), Reliance ($ 3.5 billion), ONGC ($3.4 billion), L&T ($ 3.3 billion),

Indian Oil ($ 3.2 billion) and HCL ($ 3.2 billion). Infosys brand value grew 110 per cent in two

years due to leadership change. ( July 20, 2016)

IRCTC Joins Hands With SBI To Promote Rail Ticketing.

SBIs Buddy Pay to take mobile payments to next level with IRCTC & Madura F&L.

State Bank of India has launched an Instant Money Transfer (IMT) payment system on its ATMs

in India.

CSR spend limited to 1% of profits due to stress in banking sector : SBI chief. qqqqqqqqqqqqqqq

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CIRCLE BULLETIN

lllll The call for one day Bank Strike under the banner of UFBU on 29th of July had marked ahuge success with all the branches of the entire circle remained closed and the officesremained non-functional.

lllll The Module Structured meeting for our Guwahati Module held on 27th of May 2016,where in the issues relating to Module Business, problems being faced by the officers,issues relating to non release of officers on IMT, etc. were discussed.

lllll The Circle CNC was held on 26th of May 2016 wherein lot many important issues werediscussed and solution arrived at. One of the remarkable achievements made was inregards to enhancement of allowances for working on Holidays/Sundays, which has beenincreased to Rs. 1600.00 per day along with compensatory off, from the existing Rs. 750.00.

lllll The sub committee in its pursuit to give a total facelift to the SBOA Public School and tomake it a household name in the city has taken up several initiatives which include,construction of the 3rd floor of the second building, painting and refurbishment of classrooms and furniture, tiles fitting in the corridors, earth levelling and construction ofwalking bay linking the entrance with class rooms, earth leveling and bulldozing theplaying field etc.

lllll The Disciplinary Sub- Committee of our Association is continuously doing great job inattending proceedings covering through out the Circle, writing replies to explanations,counselling for the innocent victims, and ultimately solving cases through continuousfollow up and persuasions.

lllll The executive and central committee members made visits to some of the branches ofJorhat North and Jorhat South modules and exchanged views with the members.

lllll SBIOA North Eastern Circle made a gallant show of gathering in the demonstrationsorganised by UFBU on the eve of one day token strike on 29th of July 2016. The protestgathering was followed by a meeting at SBSA Office Panbazar, where both the sisterorganisation assembled together to sensitise the membership to go all out in the strikeaction.

lllll A blood donation camp was organised in association with the Circle Management at ourLHO premises on 26th of June in tune with the Bank Day Celebration. Around 50 numberof members donated blood on the occasion to mark a huge success to our endeavour.

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CIRCLE NEWS

JANTAR MANTAR

It was a memorable journey of about 2 kilometers that has marked an indelible mark in thestreet of Delhi and would remain fresh in the memory of the crowd for good due to itssignificance and the choir that reverberated from the large gathering of around 7000 Bankofficers stepping their feet out to raise voice and protest against Govt's move towardsprivatization of Nationalised Banks, issues relating to merger and anti labour policies on thepart of the Government that is hitting the Bank employees and threatening the interest of publicat large, the reason for which the Banks were once nationalized.

A delegation of 10 members from our SBIOA NE circle, under the leadership of President,Comrade Dilip Kumar Raychoudhury and Comrade Rupam Roy attended the grandconglomeration and matched voice with the chorus that enthralled the crowd and echoed thesentiments of thousands of officers all over the country who could not make it to the ground.

The movement started at 10.am with shouting of slogans spearheaded by leaders of respectivebanks and the AISBOF had been the flag bearer. The large procession started walking fromBarakhamba Road and marched towards parliament. In the front of the ral-ly around 50 bikerswearing aprons designed marvelously with slogans setoff the mood followed by an open jeepwhere most of the AIBOC leaders guided the rally towards its march with booming slogans.

The procession marched towards SBI Head Office where it was halted by the police anddiverted the gathering towards Jantar Manter where stage was set for marking the occa-sionwith the glorious deliberation by the leaders. Among the speakers there were three MPs,namely, Sri Manish Tiwary, Sri Tapan Sen and Sri Dharam Veer Gandhi who unequivocallysupported our cause and assured all out support towards our struggle to save public sectorin our quest to save INDIA.

VISIT TO ARUNACHAL

The circle association after taking over of the charge had been in pursuit of fulfilling one of itsdreams to visit far flung places of the circle where rarely Association ever visited and to startwith, it was thought to visit some of the places of Lohit and Namsai district of Arunachal. Ourjourney started from Dibrugarh and on 6th of June reached Namsai where we were given a verywarm welcome by the Deputy Commissioner and the local MLA. We shared our concerns andalso came out with suggestion and advises that will benefit both administration as well as ourBank vis a vis our members in general.

After Namsai we proceeded to Tezu and met our members thereat sharing their problems andissues of importance. A brief meeting with the officers was also conducted where in the GeneralSecretary addressed the participants reciprocative issues were discussed. It was a matter offulfillment for all of us to see the amount of satisfaction that the members expressed on accountof visit by the Association and felt enthusiastic in showering all out support in our endeavour.

The team also made visit to SBI Rupai Siding, Doomdooma, Makum, Digboi, Segunbari,Margherita and finally a meeting was organized at SBI Tinsukia Region, where around 50participants shared their concerns and views. qqqqqqqqqqqqqqq

JS INSTITUTE WORKSHOP

With the objective to keep the office bearers of SBIOA North East Circle in tune with the current

developments in the Banking and Finance, the Circle Association in its wisdom organised a

four days programme captioned as "Workshop on recent developments in Banking and

Finance" in association with J.S. Institute of Banking and Finance, Bengaluru.

The philosophy that guided organisation of such programme had been the Circle Association's

strong belief that in order to pursue the Trade Union activities in a meaningful way, it is

imperative to know the trade first and in the fast changing National as well as International

economic scenario. With the objective to keep pace with the change and make the organisation

vibrant and relevant under the present day circumstances and as a proactive approach towards

learning and development, it was felt that there cannot be any other alternative but to sharpen

our knowledge and skill and percolate it down the line for a holistic development of our

members at large.

The four days programme that kick started from 23rd of July was inaugurated by Sri Shyamal

Chakrabarty, the General Secretary, SBI Pensioners' Association. The inaugural speech by the

chief guest was followed by the mirthful deliberation from the General Secretary of SBIOA N.E.

Circle Comrade Rupam Roy, who in his brief discourse narrated the idea behind inviting the

faculty from J.S. Institute of Banking and the guiding factor that motivated him to bring in the

best amongst the lots, an organisation, capable of imparting knowledge as per the requirements

of the recipients. He urged upon all the participants to take full advantage of their visit from

the far flung areas and experience the best out of the best.

It was a conglomeration of 45 participants from all across the circle at SBLC Guwahati under

the active support of the Circle CMC that actually resulted in a successful completion of the

programme. The Circle Development Officer has accorded his consent for using the best of the

facilities at the Learning hub. The General Manager (NW-II) Shri Panna Lal Das and the Circle

Development Officer Shri Kaushik Sinha made them available in the class room and

enlightened the house with their valuable words. The CDO urged upon the house to have a

macro view of the scenario. Every officer and staff should know what they are doing and it's

purpose and effects; only then the employees can grow along with the growth of the

organization. He congratulated the Circle association and the faculties of J.S. Institute for

organizing such a nice workshop for the development of the officers which will immensely

benefit the Bank as well. The General Manager (NW-II) also applauded the JS Institute, the

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SBIOA NE Circle and the Assistant General Manager of SBLC, Guwahati for materialising such

a nice workshop. He urged upon the officers to enhance their knowledge; he told that it is only

through acquiring knowledge that we can empower ourselves. Indeed, the four days workshop

hugely benefitted the participants in enhancing their knowledge; be it on deposits, advances,

agriculture, organizational development, etc. The faculties' of JS Institute designed the content

of the workshop in such a beautiful manner that there could not be anything better. The

sessions being very interactive bears the testimony that the officers enjoyed the lecture and

participated whole heartedly.

The Chief General Manager of the Circle Shri PVSLN Murty also made it convenient on his part

and was present there to launch the Circle Association's Android App available in the playstore

named as "SBIOANEC" and the Association's official website in the presence of the office

bearers of the Circle Association. The mobile app and the website would bring all our members

much closer and fulfil the aspiration of the young officers. The Chief General Manager was in

all praise especially for the Android App and appreciated the SBIOA NE Circle for the

unprecedented move. Some of the features of the Android App "SBIOANEC" are as follows:

a) Officers' Directory : There is a database of all the members of SBIOA NE Circle along with

their Mobile Number, email id and the name of the branch he or she is posted at. There is an

option to directly make calls and send SMS and email to them from the app.

b) The soft copies of all the Circle Association publications are available there.

c) All the soft copies of the circle level and federation level circulars are available under the

menu "Publication".

d) The soft copies of all the Cooperative forms and Association membership form are available

under "Download."

e) All the news and notifications are uploaded there in the App.

f) There is an option called "Knowledge hub" where all the relevant materials are uploaded for

the greater benefits of our members.

f) Last but not the least, the feedback option is also available in the app for the valuable

suggestions of the members.

Further, we are working on it to bring in many more utilities in the App.

The website of the Circle association "www.sbioanec.com" has some additional features in it.

1) Online guest house booking facility by the members.

2) The contact details of all the Central Committee members of the Circle association, etc.

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With this "Workshop the Circle Association has crossed another milestone of achievements and

added feather to its already coveted crown. The faculty from the institution were as usual

marvellous in their approach and their clarity on subjects and illustrative and narrative skills

had been exemplary. The classes were marked with pin drop silence and response from the

participants across the ages had been astounding. The faculty covered everything starting from

KYC to quenching the curiosity of the participants in such a lucid manner which attracted

reverence in very high esteem.

The Circle Association in acknowledgement expressed its heartfelt thanks and gratitude to the

Management for encouraging such an initiative and felt motivated to organise more such

programmes in near future.

The founder of J.S Institution Sri G Subramanian in valedictory speech congratulated the circle

association for extending a wonderful hospitality while wishing all the best to the circle

association in its future endeavour. He while reading out some of the important quotes

encrypted in the walls of SBLC termed the initiative by the general secretary Comrade Rupam

Roy as a Man Making mission and offered a valuable memento as a mark of recognition of his

effort and commitment towards his visionary effort.

The four days programme thus came to its end with the vote of thanks proposed by Comrade

Sanjib Sen, acknowledging the circle association's indebtness to the founder of J.S. Institute of

Banking & Finance, Mr. G. Subramanian and other faculty members for the positive response

they have manifested by coming to Guwahati all the way from Bangalore and for conducting

the workshop in an exemplary manner. The Circle Association also unveils their gratefulness

to the AGM SBLC, Guwahati and his team for their whole-hearted co-operation in conducting

the programme in a smooth way. qqqqqqqqqqqqqqq

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APPEAL

The members are requested to contribute with their write up for publication in Unity. The topic may

be related to anything which can benefit our members and helps in the enrichment of our magazine.

Any achievement registered by your children may also be sent for publication in the magazine.

You can send your contribution at basu.sbi86@gmail.com or tanudasgupta2013@gmail.com.

MARCH TO PARLIAMENT ON 9TH AUGUST AS PART OF

SAVE PUBLIC SECTOR MOVEMENT

On 9th August in the year 1942, Mahatma Gandhiji launched Quit India Movement to save the

Nation from the British. 74 years later, AIBOC launched the "Sansad Chalo" to save the Public

Sector in general and Public Sector Banks in particular from the possible clutches of Foreigners

and Capitalists. The huge & mammoth congregation of Bank Officers did ring the bell loud and

clear to the law-makers that they cannot play with the Public Sector Banks (PSBs) of India. The

march to the Parliament was a successful attempt at bringing to the knowledge of the public, the

sinister designs of the Central Government's intentions to hand over the control of the Nation's

asset - the PSBs - to private & foreign players.

In the "Sansad Chalo/March to Parliament", the long, unending array of participants reminded of

soldiers marching towards a battle field in a war. The March started from Barakhamba Road unto

Parliament, but was stopped by the Police at Jantar Mantar. More than 10,000, disciplined Members

from all the AIBOC Affiliates queued up and marched in unison, inspired by unrelenting and

incessant sloganeering. 50 bikers, both male and female, wearing AIBOC/SAVE PUBLIC SECTOR

BANKS aprons led the procession followed by an open jeep with top leaders on it provided a

unique look. The hair raising slogans, enthused not only the participants but caught the attention

of the general public. The message was sufficiently loud and characteristically clear.

At the Jantar Mantar, a huge podium was erected to accommodate Members of the Parliament,

the top leaders of AIBOC, Representatives from Telecom, Sanchar Nigam Executive Association,

All India Power Engineers Federation and National Confederation of Officers Associations of

Central Public Sector Undertakings. Braving the scorching sun and humidity of Delhi, the large

gathering listened to powerful & emotional speeches delivered. The thundering slogans reached

the Parliament!!

AIBOC President and our Federation General Secretary Com. Y. Sudarshan, while delivering his

presidential address, congratulated and saluted the spirit of the Members in their exuberant &

unprecedented participation in the successful March. Public Sector Banks have taken care of the

people, developed the country, its infrastructure and helped credit dispensation.

AIBOC has resolved and is determined to fight the anti-nation moves till the Government retrieves its

dangerous steps and provides the requisite strength and support to Public Sector / Banks. qqqqqqqqqqqqqqq

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UFBU STRIKE ON 29.07.2016

The one day All India Bank Strike on 29th July 2016 by more than 10 lac bank workmen and

officers has been a stupendous success. The grand success of the united struggle of bank

employees all over the country displays clearly the anguish and concern of the bank employees

towards the general public as well as the entire labour force in the country.

At the call of United Forum of Bank Unions, the entire workmen and officers in the banking

industry observed a day's All India Bank Strike today opposing the adamant attitude of the

Government in pursuing the reform measures in the banking sector ultimately paving the way

for the private players to wipe out the public sector character prevalent in the country,

proposals for consolidation of banks while granting licenses to private players for opening

small banks, neglecting in full the ways and means to recover the soaring bad loans in the

Public Sector Banks, the ill-fated, anti-labour amendments to labour laws of the country.

Despite persistent opposition from all trade unions not only in the banking sector but also from

all the trade unions in the country, the Government has been adamantly pursuing the anti-

public banking, financial and labour reform measures, which are detrimental to the general

public and the entire work force in the country. Reports pouring in from different parts of the

country confirm that the strike is total with massive rallies and demonstrations conducted by

the entire membership all over the country. The stupendous success of the strike should be an

eye-opener to the Government and we hope and trust the emotional protest of the bank

employees are duly noticed by the Government and given due cognizance. 29th July strike was

the need of the hour for the country. A message needed to be sent - Save Public Sector for the

good of our Country & its citizens. And we rightly have. We do & did our duty to our

countrymen, selflessly. Our objective is to save them from the evil clutches of a few handful,

rich & greedy business houses. Indeed, this, for AIBOC, was a Save India Campaign. Nothing

more & Nothing less.

Comrades - The battle is not yet over - We may have to continue our agitations to a greater

extent till we achieve our goal. While we thank wholeheartedly our entire membership for its

excellent display of unity in sending strong signal to the Government to halt in entirety the

path of reforms, we appeal to the entire membership in readiness to implement further

agitational programmes, if any, decided by the UFBU in the days to come.

We once again place on record our sincere thanks to all of our militant members who have lent

their total support to our agitation launched in the interests of general public and the entire

workforce in the country. qqqqqqqqqqqqqqq

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KNOWLEDGE HUB

CHECK LIST - ON KYC PROCEDURE FOR FRONTLINE STAFF

On receipt of Account Opening Form (AOF)

Verify and ensure

üüüüü AOF is properly filled and bear the signature/thumb impression (for illiterates) of theprospective customer.

üüüüü Copies of appropriate KYC documents to establish both identity and address are attached -(Refer Annexure A for individuals and Annexure B for non individuals) .

üüüüü Photograph of the account holder is affixed.

üüüüü Customer profile information like date of birth /establishment, annual income, source ofincome, occupation etc are properly mentioned in the AOF.

üüüüü Copy of PAN Card or Form 60 are submitted.

üüüüü Nomination details are recorded.

üüüüü Accounts are not opened with introduction. (The facility of opening of accounts withintroduction from existing customer has been withdrawn by RBI).

üüüüü Accounts are not opened in the name of Benami persons.

üüüüü In the case of non individual customers, KYC documents are obtained for.

i) The entity.

ii) Proprietor/partners / beneficial owners, trustees, executors, administrators.

iii) Beneficial owners (natural persons).

iv) Persons authorized to operate the account.

At the time of recording the information in CBS.

Verify and ensure

üüüüü Customer name and other details do not match with the UNSCR List (In case of doubt pleasecheck with web sites http://www.un.org/sc/committees/1267/aq_sanctions_list.shtml andhttp://www.un.org/sc/committees/1988/list.shtml which are 'positive' sites).

üüüüü KYC documents submitted by the customer are verified with the originals and customers'identity and address are established by affixing stamp reading "Verified with originals".

üüüüü Accounts are opened in appropriate Customer Type and product code.

üüüüü Appropriate ID type is selected for recording the KYC documents.

In case PAN / Aadhaar is submitted as KYC documents, they are validated with NSDL site/e-KYC service.

üüüüü Risk Categorisation (Refer Annexure C) is done correctly and recorded in appropriate field inCBS.

üüüüü Threshold limit is fixed (Monthly income or Monthly turnover in the case of business) andrecorded in CBS.

üüüüü Details of PAN Card or Form 60 are recorded in CBS.

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CHECK LIST - ON KYC PROCEDURE FOR AUTHORISING OFFICIAL / BRANCHMANAGER

Verify and ensure

üüüüü AOF is duly filled under the signature/thumb impression (for illiterates) of the customer

and photograph affixed.

üüüüü Customer is interviewed and the disclosures made by the customer in AOF are apparently

correct.

üüüüü Accounts are not opened in the name of Benami persons.

üüüüü Customer name and other details do not match with the UNSCR List (In case of doubt

please check with web sites.

http://www.un.org/sc/committees/1267/aq_sanctions_list.shtml and http://

www.un.org/sc/committees/1988/list.shtml which are 'positive' sites).

üüüüü Appropriate KYC documents are submitted and are properly recorded in CBS (Refer

Annexure A for individuals and Annexure B for non individuals).

üüüüü In the case of non individual customers, KYC documents are obtained for

i) The entity.

ii) Proprietor/partners/beneficial owners, trustees, executors, administrators.

iii) Beneficial owners (natural persons).

iv) Persons authorized to operate the account.

üüüüü Customer profiles are properly ascertained, filled in AOF and recorded in CBS.

üüüüü Copy of KYC documents submitted are verified with its original and evidence of such

verification is recorded in the KYC documents retained by the Bank.

üüüüü ID type (s) selected for recording the details KYC documents are the appropriate ones

In case PAN/ Aadhaar is submitted as KYC documents, they are validated with NSDL

site/e-KYC service.

üüüüü Risk Categorisation (Refer Annexure C) of the Customer is done and recorded in CBS.

üüüüü Threshold limits are fixed (Monthly income or Monthly turnover in the case of business)

and recorded in CBS.

üüüüü Authorisation to open the account are recorded in AOFs.

üüüüü AOF & KYC documents are forwarded to LCPCs preferably on the date of opening the

account and duly acknowledged by LCPCs.

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Annexure A

KYC DOCUMENTS - INDIVIDUALS

1. Individuals (i) Passport .(ii) Voter's Identity Card.

(Documents acceptable (iii) Driving Licence.as proof of identity (iv) Aadhaar Letter /Card.address) (v) NREGA Card.

(vi) PAN Card.

Any one document towards proof of identity and proofof address (either permanent or current).

2. Minors If minor is less than 10 years of age, ID proof of the personwho will operate the account be obtained.

In cases where minor can operate the account independently,KYC procedure for identification/address verification as inthe case of any other individuals would apply.

3. NRIs Passport and Residence Visa Copies, duly attested by

(i) Foreign offices (ii) Notary Public (iii) Indian Embassy (iv)officers of correspondent banks whose signatures areverifiable through an authorized (A/B category Forexhandling branch) branch of the Bank.

For customers who are classified as low risk and where simplified measures are applied, thefollowing documents are also treated as Officially Valid Documents towards the proof ofidentity and proof of address. - However, these documents can be accepted only for theproducts mentioned in 2nd column in the following Table.

Package Product Documentscode

1. Defence 1092-1431 Proof of identitySalaryPackage a)Identity card with applicant's photograph issued by Central(DSP) /State Govt. Departments/Statutory/Regulatory Authorities,

2. Defence 1092-1471 Public Sector Undertakings, Scheduled Commercial BanksSalary and Public Financial Institutions.Package(DSP)Navy - ORSailors(minors)

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3. Indian 1099-1431 b) Letter issued by gazetted officer, with a duly attestedCoast photograph of the person.GuardSalaryPackage Proof of Address(ICGSP)

4. Paramilitary 1094-1431 a) Utility bill which is not more than two months old of anySalary service provider (electricity, telephone, postpaid mobilePackage phone, piped gas, water bill);(PMSP) b) Property or Municipal Tax receipt;

5. Railway 1095-1431 c) Bank account or Post Office savings bank accountSalary statement;Package d) Pension or family pension payment orders (PPOs) issued(RSP) to retired employees by Government Departments or Public

6. State 1096-1431 Sector Undertakings, if they contain the address;Govt. e) Letter of allotment of accommodation from employer,Salary issued by State or Central Government departments,Package statutory or regulatory bodies, public sector undertakings,(SGSP) scheduled commercial banks, financial institutions and

7. Police 1097-1431 listed companies. Similarly, leave and license agreementsSalary with such employers allotting official accommodation; andPackage f) Documents issued by Government departments of foreign(PSP) jurisdictions and letter issued by Foreign Embassy or

8. Central 1098-1431 Mission in India.Govt.SalaryPackage(CGSP)

9. Pehla 1029-1411Kadam

10 Pehli 1029-1421Udaan

11 Pehla 1029-3411Kadam(staff)

12 Small 1011-1601Accounts

qqqqqqqqqqqqqqq

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Annexure B

KYC DOCUMENTS - Non Individuals

1 Accounts of Proprietary concerns (i) Registration certificate (in the case of a registered concern).

Proof of the name, address and activity (ii) Certificate /licence issued by the.of the concern Municipal authorities under Shop &

Establishment Act.(iii) Sales and income tax returns.(iv) CST / VAT certificate.(v) Certificate / registration documentissued by Sales Tax / Service Tax /Professional Tax authorities.(vi) Licence issued by the Registeringauthority like Certificate of Practiceissued by Institute of CharteredAccountants of India, Institute of CostAccountants of India, Institute of CompanySecretaries of India, Indian MedicalCouncil, Food and Drug ControlAuthorities, registration / licensingdocument issued in the name of theproprietary concern by the CentralGovernment or State GovernmentAuthority / Department, etc.(vii) Banks may also accept IEC (ImporterExporter Code) issued to the proprietaryconcern by the office of DGFT as anidentity document for opening of the bankaccount etc.(viii) The complete Income Taxreturn (not just the acknowledgement) inthe name of the sole proprietor where thefirm's income is reflected, dulyauthenticated / acknowledged by theIncome Tax Authorities.(ix) Utility bills such as electricity, water,and landline telephone bills in the name ofthe proprietary concern.

Any two of the above documents wouldsuffice. These documents should be in thename of the proprietary concern.

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PLUSID and address proof of the proprietor.NB

The default rule is that any twodocuments mentioned above should beprovided as activity proof by aproprietary concern. However, in caseswhere the Branches are satisfied that it isnot possible to furnish two suchdocuments, they would have thediscretion to accept only one of thosedocuments as activity proof. In such cases,the Branches would, however, have toundertake contact point verification,collect such information as would berequired to establish the existence of suchfirm, confirm, clarify and satisfythemselves that the business activity hasbeen verified from the address of theproprietary concern.

2 Accounts of partnership firms (i) Registration certificate.(ii) Partnership deed.(iii) An officially valid document inrespect of the person holding a power ofattorney to transact on its behalf.

PLUS

üüüüü Proof of identity & address of all thepartners / beneficial owners - naturalpersons if beneficial owners are nonindividuals (owning 15% capital orentitled for 15% profits).

3 Accounts of companies (i) Certificate of incorporation.(ii) Memorandum & Articles ofAssociation.(iii) A resolution from the Board ofDirectors and power of attorney granted toits managers, officers or employees totransact on its behalf; and

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(iv) An officially valid document in respect ofmanagers, officers or employees holding anattorney to transact on its behalf.

PLUS

Proof of identity & address of all thebeneficial owners (natural persons ifbeneficial owners are non individuals)(owning 25% share or capital or entitled for25% profits in case of company which is notlisted in a Stock Exchange (Submission ofProof of identity & address by beneficialowners of a company listed in stockexchange or is a company majority ownedone by such listed company is not warranted)

4 Accounts of trusts & foundations (i) Certificate of registration;(ii) Trust Deed; and(iii) An officially valid document in respect ofthe person holding a power of attorney totransact on its behalf.

PLUS

Proof of identity and address of personslike trustees, executors, administrators etc.(beneficial owners - natural persons).

5 Accounts of Unincorporated association (i) Resolution of the managing body ofor body of individuals such association or body of individuals;

(ii) Power of attorney granted to him totransact on its behalf;(iii) An officially valid document inrespect of the person holding anattorney to transact on its behalf; and(iv) Such information as may be required bythe bank to collectively establish the legalexistence of such an association or body ofindividuals.

6 Hindu Undivided Family (HUF) i. Declaration from the Karta.ii. Proof of Identification of Karta.iii. Prescribed Joint Hindu Family Lettersigned by all the adult coparceners.iv. Identity of the adult coparceners.

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Risk Categorisation Annexure C

High Risk Category.

1. Politically Exposed person of foreign origin.

2. Bullion Dealers/Jewelers.

3. Non Resident Customers (NRIs).

4. Trust Charities, NGOs & Organisations receiving donations from India & abroad.

5. Non Face-to-Face Customers.

6. Customers domiciled in/having transactions with High Risk Countries.

7. Firms with Sleeping partners.

8. Companies having close family shareholding.

9. Multi-Level Marketing Companies.

10. Accounts of Mules.

11. Customers of dubious reputation.

12. High Net worth Individuals - Individuals with total deposits of Rs. 1.50 Crores or more

13. Pooled Accounts.

14. Individual/entities involved in any fraud /forgery/anti national activity / terrorism

/ tax evasion/insider trading may be classified as High Risk.

15. Account opened/operated by Power of Attorney Holders.

16. Individual Account holder with Credit /debit summations of Rs. 2.00 crores & more

per annum.

17. Non Individual account holders with credit debit summations of Rs. 10.00 crores &

more per annum.

18. Customer accounts where STR has already been filed with FIU.

Medium Risk Category

1. New customers opened under Low Risk while onboarding, during first 180 days of

opening the account, except those pertaining to Central/State Governments, PSUs and JVs

with Govt., Regulators, FIs, Statutory Bodies, salaried persons/pensioners of these

organizations, "Small Accounts" and any product(s) that are specifically mandated to be

classified under Low Risk.

2. Non-Banking Financial Institutions.

3. Stock Brokers.

4. Import/Export customers.

5. Telemarketers.

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6. Pawn Shops.

7. Auctioneers.

8. Venture Capital Companies.

9. All In-operative accounts.

10. Individual Account holder with Credit/debit summations of Rs. 50.00 lacs to below

Rs. 2.00 Crores per annum.

11. Non Individual account holders with credit debit summations of Rs. 2.00 crores to

below Rs. 10.00 Crores per annum.

Low Risk Category

1. Salaried Employees (whose salary are well defined).

2. Customer belonging to lower economic strata, accounts opened under financial.

3. NGOs / NPOs promoted by UN or its agencies.

4. Government owned Companies / Departments and (State /Central), PSUs, JVs with

Govt., Regulators, FIs, Statutory bodies etc.

5. All customers not classified either as High / Medium Risk Categories.

6. Individual Account holder with Credit /debit summations below Rs. 50 lacs per

annum.

7. Non Individual account holders with credit debit summations below Rs. 2 crores per

annum.