STATE BANK OF MYSORE

P&SB DEPT::HEAD OFFICE

COMMON AREAS OF CUSTOMER BANKER RELATIONSHIP

KNOW YOUR CUSTOMER (KYC NORMS) - General guidelines

In order to protect the prospective customer/s, members of the public and ourselves
against fraud and other misuses of the banking system, adherence to KYC norms is
mandatory.
For opening any type of deposit account (i.e., Savings Bank, Current Account and Term
deposits), the applicant will need to comply with the KYC norms. The basic requirement
is production of identity and address proof.
One of the following documents may be produced:
List 1
a.
b.
c.
d.
e.
f.
List 2
a.
b.
c.
d.
e.
f.
g.

IDENTITY PROOF
Passport with address
Voter ID card
PAN card
Government/Defence ID card
ID card of reputed employer
Driving license
ADDRESS PROOF
Credit Card statement
Electricity Bill
Salary slip
IT/WT assessment copy
Telephone Bill
Bank Statement
Letter from reputed employer.

He/She has to furnish introduction from an existing account holder or a person known to
the bank not only for cheque operated account but also for all types of accounts such as
TDR/RID/SB/CA and RD accounts etc.
Introduction can also be furnished by producing identity cards issued by Government
Departments or any factory /educational institutions/ hospital/ municipality / defence
services / police etc and passport for the purpose of introduction for opening of non
cheque book account to the satisfaction of the bank.
In rural areas the introduction can be obtained from village pradhan / sarpanch or the
village accountant. The applicant has to come to the branch for opening such deposit

STATE BANK OF MYSORE

P&SB DEPT::HEAD OFFICE
accounts along with one current photograph and will sign at the relevant places in the
presence of a bank official. The introducer should preferably visit the Branch for signing
the application form.
For the benefit of customers who do not have identity proof, a simplified account is
opened wherein the balance in the account should not exceed Rs.50000 and the total
credits to the accounts should not exceed Rs.200000 per annum. In case the above limits
are exceeded, the customer must comply with the full KYC norms as stated above.
In case the customer is residing with a close relative, the address proof of the close
relative along with a declaration from the relative that the person wanting to open an
account is a relative and is staying with him must be obtained
The bank is required to obtain Permanent Account Number (PAN) or General Index
Register (GIR) number or alternatively obtain declaration in Form No. 60 or 61 as per the
Income Tax Act from the person/s opening the account.
SAVINGS BANK ACCOUNT
These accounts are designed to help individuals inculcate a saving habit. The amounts
can be deposited/withdrawn from these accounts by cash/ cheque/withdrawal slips.
Besides earning interest, it enables the customers to keep minimum cash at home.
Savings Bank accounts are very popular. These accounts can be opened by eligible
person/s and certain organizations/agencies (as approved by Reserve Bank of India).
The account holder is required to maintain certain minimum balance in the account, as
specified by the Bank from time to time. Non maintenance of minimum balance would
attract service charges.
Presently interest @ 3.5% p.a is being paid on half yearly basis on the first of January
and July. The minimum interest payable is Re. 1. Interest is calculated on the daily balance
(i.e day end balance) maintained in the account.
Cheque book facility is available to the account holders. The first 25 leaves in a year are
free and thereafter each cheque leaf is charged as decided by the Bank from time to time.
Withdrawals can be made in the account using withdrawal forms or cheque leaf.
However, withdrawals in excess of Rs.5000 have to be made by means of a cheque leaf
only.
In order to permit members of the public who need banking services but are not able to
produce any proof of address or identity and are not able to maintain minimum balance,
SARAL SAVINGS BANK ACCOUNTS, are opened, wherein the minimum balance
required is Rs.10/-. However, no ATM card is issued to the account and withdrawals are

STATE BANK OF MYSORE

P&SB DEPT::HEAD OFFICE
restricted to 4 during a month. Cheque book is restricted to 10 leaves a year. If the total
balance in the account exceeds Rs.10000, it will be upgraded to normal Savings Bank
account. If the account is not operated for 12 months, the account will be closed by
charging Rs.20/- or balance available in the account whichever is lower. No Frills
accounts can be opened at all centres.
CURRENT ACCOUNTS
Current accounts can be opened by individuals, partnership firms, private and public
limited companies, HUFs/specified associates, societies, trusts etc.
The bank is required to obtain Permanent Account Number (PAN) or General Index
Register (GIR) number or alternatively obtain declaration in Form No. 60 or 61 as per the
Income Tax Act from the person/s opening the account.
The Bank is required to obtain one recent photograph of the person/s opening/operating
the account, as per RBI directive.
Minimum balance as stipulated from time to time will be required to be maintained.
No interest is paid on credit balances in current accounts.
Service charges are levied for:

Account Maintenance
Cheque books issued
Non-maintenance of minimum balance
Return of cheques, cash handling beyond prescribed limits etc.

For opening special types of current accounts e.g. Executors, Administrators Trustees,
liquidators etc., the Branch Manager may be contacted who will help in opening these
type of accounts.
Partnership firms, public/private limited companies, HUFs/Societies/Trusts etc. should
also submit the relevant documents establishing their constitution/activity etc, while
opening the account.
At the time of opening the account the applicant must make full disclosure of any
accounts /credit facilities that he/she may have with other banks/branches.
TERM DEPOSIT ACCOUNTS
Bank has tailored various deposits schemes to suit the needs and expectations of
investing people in every walk of life.

STATE BANK OF MYSORE

P&SB DEPT::HEAD OFFICE
Term deposits accounts can be opened by individuals, partnership firms, private and
public limited companies, HUFs/specified associates etc.
The interest rates on term deposits will be published by the Bank from time to time.
Premature withdrawals of deposits are allowed as per the Banks policy. No interest will
be paid on premature withdrawals of deposits which have remained with the Bank for
less than 30 days.
Generally, overdrafts/loans against deposits are allowed except on such deposits which
are not permitted by the Government/RBI/Bank. Interest on such loans is charged at the
rates specified by the Bank from time to time.
Senior Citizens are eligible for higher interest rates as decided by the Bank from time to
time.
Deposits are automatically renewed by the Bank on due dates for the same period while
opening the account.
If the interest on deposits (per branch) exceeds the cut off limit as per the Income Tax
rules, , the same will be subject to Tax Deduction at Source (TDS) at the rates specified.
The depositor may furnish declaration in Form No. 15H or 15G preferably at the
commencement of each financial year for receiving interest on deposits without
deduction of tax.
The Bank will issue TDS certificate for the tax deducted.
Deposits in excess of Rs.20000 will not be paid by way of cash.
CORE POWER
Anywhere banking facility is available to the customers. They can conduct all their
banking transactions in any of our branches. They can deposit cash/cheques, withdraw
cash and make remittances in any of our branches. Customers are advised to visit our
website for details of the scheme.
INTEREST ON DEPOSITS
The Bank pays interest on deposits as per various deposit schemes. Interest rates are
revised from time to time and will be made known to public. Revised interest rates are
applicable only to the renewals and fresh deposits while existing deposits continue to get
interest at the contract rate.
The deposits are accepted as per the Deposit Policy of the Bank which is displayed on the
Banks website.

STATE BANK OF MYSORE

P&SB DEPT::HEAD OFFICE
STANDING INSTRUCTIONS
Standing instructions can be given to the Bank for transfer/remittance of funds from one
account to other account/s maintained in the same branch, any other branch of the Bank
or any other Bank or third parties. The charges for noting the standing instructions and
remittance may be obtained from the branch or from our website.
SAFE DEPOSIT LOCKERS
The facility of Safe Deposit lockers is an ancillary service offered by the Bank. The
Banks branches offering this facility will indicate/display this information on the
operation of the lockers.

A locker may be hired by an individual (not minor), firms, limited companies,

specified association and societies, etc.
Nomination facility is available to individual hirer of safe deposit locker.
Loss of key should be immediately informed to the Bank.
Lockers are available in different sizes.
Lockers are rented out for a minimum period of one year. Rent is payable in
advance. In case of overdue rent, the bank will charge penalty as decided from
time to time.
The bank will hire lockers only to properly introduced persons.
The bank reserves right to break open the locker if the rent is not paid inspite of
giving notices as per the Bank rules and recover charges thereof.
In case a locker is not operated for one year, even though the rent has been paid,
the locker will be broken in the presence of witnesses.

ARTICLES IN SAFE CUSTODY

In some of our branches, articles like shares, securities, etc., can be kept in safe custody
with the Bank on prescribed charges. Large/small boxes must be locked by the
customer(s) and particulars must be written/painted thereon. The lock should be covered
by thick cloth and sealed with the customers seal. Relationship of Banker and customer
shall be that of Bailor and Bailee. This facility will be subject to availability of space in
the branch. However, Fixed deposit receipts are accepted for safe custody free of charge
at all our branches.
NOMINATION
Nomination facility is available for all deposit accounts, articles in safe custody and safe
deposit lockers.
Nomination is available for accounts opened in individual capacity (i.e. single/joint
accounts as well as accounts of a sole proprietary concern only) i.e. not for accounts
opened in representative capacity.

STATE BANK OF MYSORE

P&SB DEPT::HEAD OFFICE
Nomination can be done in favour of one person only. Nominations can be made,
cancelled or varied by the account holder. While making nomination, cancellation or
variation, a witness is required and the request should be signed by all the account
holders. Nomination can be made in favour of minors also. However, the name of an
appointee should be mentioned, who will receive the money on behalf of the minor.
For the existing accounts where nomination is not made, the account holders can do so
by filling up the form available with the branches.
Customers are encouraged to avail nomination facility, if not availed so far.
PAYMENT OF BALANCE IN ACCOUNTS OF THE DECEASED CUSTOMERS
TO SURVIVORS/CLAIMANTS
In case there is no nomination, the Bank has adopted a simplified system of settling
claims. The balance in the deceased customers account will be paid to the legal heirs on
the basis of stamped indemnity and affidavit, when the depositor dies intestate. If the
balance in the account is below Rs.10000, the claim will be settled on the basis of
unstamped indemnity and affidavit.
PENSION PAYMENTS
Pensioners of Central and State Governments can open a separate pension account in any
of our branches.
Pensioners are requested to furnish a life certificate once a year (in the month of
November) to enable the branches to pay pension without interruption/delay.
The pension will be credited by the branch to the pensioners savings or current account
during the last four working days of the month. The pension for the month of March will
be credited on or after 1st working day of April. The pension will not be paid in cash.
Every pensioner is required to submit marriage/remarriage/unemployment certificate
periodically.
Pensioners can avail loan to meet their medical expenses, as per Banks norms.
REMITTANCE SERVICES
Customers may remit funds from one centre to another centre by Demand draft or
Telegraphic transfer, Real Time Gross Settlement (RTGS), National Electronic Funds
Transfer or State Bank Group Payment Transfer Scheme (SBGRPT) by paying specified
charges as per the Banks rules.
RTGS can be used to transfer funds above Rs. 1 lac and NEFT for funds below Rs. 1 lac.
SBMRPT for transfer of funds between State Bank Group branches.

STATE BANK OF MYSORE

P&SB DEPT::HEAD OFFICE
Remittances for Rs.50000 and above will be affected by the banks only by debit to the
customers account or against cheques or other instruments tendered by the purchaser and
not against cash payment. Similarly, such payments for Rs.50000 and above will be made
through banking channels and not in cash.
Internet banking services can also be used to affect remittances.
ISSUE OF DUPLICATE DRAFTS
The Bank will issue duplicate demand draft upto Rs.10000 on the basis of indemnity and
without waiting for nonpayment advice from the drawee branch.
The bank will issue duplicate demand draft to the customer within a fortnight from the
receipt of request. For delay in issuing duplicate draft beyond the above stipulated period,
the bank will pay interest at the rate applicable for fixed deposit of corresponding
maturity in order to compensate the customer for such delay.
COLLECTION SERVICES
Immediate credit of outstation cheques upto Rs.20000 is provided to the individuals, who
are maintaining satisfactory accounts. However, the customers will have to bear usual
service charges as well as the postal charges. In the event of cheques being returned
unpaid, the customer will pay interest for the period for which funds were utilized.
In case, there is delay in collection of cheques, the Bank will pay interest to the customer
as provided in the Cheque Collection Policy and Compensation Policy of the Bank.
Customers can view the policies on the Banks website.
Cheques deposited by the customers are cleared by the Bank in clearing as under:
HIGH VALUE CLEARING:
This facility is available for clients of selected branches at designated centers. Cheques of
high value (as decided by the local clearing house) are cleared on the same day.
LOCAL CLEARING
Cheques are cleared depending on the centre subject to depositing of the
cheques/instruments in time.
COLLECTION OF GOVERNMENT DUES
The Bank handles collection of various taxes on behalf of Government of India and State
Governments through selected designated branches.

STATE BANK OF MYSORE

P&SB DEPT::HEAD OFFICE
OLTAS for Income Tax and EASIEST for Excise Duty and Service Tax are implemented
in all the designated branches.
Internet banking facility is available for e-payment of Direct and Indirect Taxes.
Exclusive Treasury branches have been opened at Bangalore, Mysore and Bellary for the
convenience of the customers.
Electronic Clearing Services (ECS)
Electronic clearing (credit &debit) facility can be availed by the customers, at select
centres, to pay their utility bills.
ECS (credit) can be used by the customers to get credit of their dividends, salaries. ECS
(debit) can be used to pay their utility bills, loan installments etc.
EXCHANGE OF SOILED/ MUTILATED CURRENCY NOTES
Currency exchange facility is offered to Banks customers and others. The Bank follows
RBI guidelines in this respect. RBI has permitted the banks to exchange mutilated
currency notes which are genuine and where mutilations are such as not to cause
suspicion or fraud. All the branches of the Bank will freely exchange soiled notes. The
Banks currency chest branches will exchange all categories of mutilated currency notes.
Coin dispensers are installed in major branches.
Dual display note counting machines are supplied to all our branches.
SERVICE CHARGES
The Bank provides various services to customers for which service charges are levied.
The charges are reviewed/revised from time to time.
Service charges are levied for collection and remittance of funds, processing of loan
proposals, issue of guarantees, safe custody, issue of duplicate instrument/statements,
account maintenance etc.
Details of basic service charges are displayed in the Banking Hall and Banks website
and service charges will be made available on request.
AUTOMATED TELLER MACHINES (ATMs)
The Bank has installed ATMs for the benefit of the customers so that they can have the
alternate delivery facility all throughout the day, subject to certain limits.

STATE BANK OF MYSORE

P&SB DEPT::HEAD OFFICE
ATM cards will be issued to all individual savings bank and current accounts and
accounts of proprietary concerns except for No Frills Savings Bank accounts.
The following facilities, apart from the basic facilities like cash withdrawal, balance
enquiry and mini statements are provided at the ATM

Utility bill payment (Bescom bill)

Mobile top up
State bank card payment
Card to card transfer within State Bank group
Changing ATM Pin

There is no service charge during the first year and annual service charge of Rs.50 will be
levied from second year onwards.
The following help lines are available for ATM transactions:
(24 x 7) Toll free number (from BSNL/MTNL)
1800 11 22 11
Other landline or mobile
080-26599990
INTERNET BANKING
Transactions based internet banking facility, that is fully secure, with options to view and
operate their accounts on 24/7 basis is now available to both retail and corporate
customers.
Retail customers can use internet banking to:

Transfer funds between different accounts of the customers

Transfer to accounts of third parties
View/print statement of accounts
Set up standing instructions
Online request for demand drafts/cheque books
Bill payment facilities

Corporate customers can use internet banking to:

Transfer of funds between different accounts within the bank.

Make payments to vendors and third parties
Schedule the transaction
Bulk uploading of transactions
Salary credits to corporate employees
Permit executives to operate/monitor accounts remotely and even participate in
joint authorization remotely
E-payment of taxes (service tax ,excise duty and Income Tax)

STATE BANK OF MYSORE

P&SB DEPT::HEAD OFFICE
As part of our Business Process Re-engineering, the Bank has introduced several
customer centric concepts to improve services.
Cheque Drop Box:
Cheque Drop Box facility has been introduced in all the branches. In the Cheque Drop Box,
there are three coloured compartments for instruments, viz., a) Local/ Clearing b) outstation
and c) own branch instruments. However it must not be used for 1). Credit card payments 2)
Instruments with Govt. Challans 3) Instruments intended for negotiation and immediate
credit. The customer is also entitled to acknowledgement for instruments tendered
across the counter.
Grahaka Mitra:
Grahakmitras at select branches have been placed to ensure that product information is made
available and the customers are directed to the staff concerned. Grahakmitras will also assist
in migration of customers to automated/ alternate channels such as ATM, Cheque Drop Box,
Internet Banking etc.
Depository Services:
Depository Services were launched in our Bank from 28th June 2007, as a franchisee of
SBICAP Securities Ltd (SSL) Mumbai at select branches. for opening of Demat cum
Trading Accounts as a value added service to the customers of our Bank. A customer of our
Bank with internet enabled Savings/Current Account, by opening a Demat cum trading
account, can access online trading from any centre in the country.
TOLL FREE NUMBER
The Bank has installed a Toll Free number. Customers can contact the number and enquire
details of the products. Information is available in English, Hindi and Kannada.
Toll Free number is at presently available between 9 am to 6 pm
From BSNL/MTNL lines
1800-425-2244
From other telephones/mobiles phones
080-22300020