PREFACE
The ability of the banking industry to achieve the
socio-economic objectives and in the process to bring
more and more customers into its fold will ultimately depend on the paradigm
of customer satisfaction.
We strongly believe that a satisfied customer is
the most invaluable asset in developing our business.
A need was felt by the KARNATAKA BANK LTD. that, in order to become more
customer friendly the Bank should come out with a charter of its services for
the customers. Citizens' Charter concept was considered as a base instrument to
fill this need and accordingly this document was prepared. This document was
made in consultation with the users and highlights KARNATAKA BANK LTD.'s
commitments towards the customer satisfaction, thus ensuring accountability and
responsibility amongst its officials and staff. This charter for customers not
only explains our commitment and responsibilities along with the redressal
methods but also specifies the obligation on the part of customers for healthy
practices in customer bankers relationship.
This is not a legal
document creating rights and obligations. The charter has been
prepared to promote fair banking practices and to give
information in respect of various activities relating to
customer service.
We maintain constant consultations with our clientele through
various Seminars, Customer Meets, etc., to evaluate, improve and widen the
range of service to customer. However, all our customers are requested to keep
us informed of their experiences about the various services rendered by the
Bank and feel free to comment on this charter. We intend to bring it out in
many more Regional Languages in subsequent years.
Place : Mangalore-575003
Date
: 01.04.2001
Ananthakrishna(Chairman)
NOTE
Information given in
this booklet is as of DD MM YYYY, which is subject to change/revision.
This booklet should not be considered as a legal document
creating rights and obligations. It is for promoting better understanding
between Customer and Banker.
Only key information on various services/facilities is given
in this booklet. Each service has its own detailed terms and conditions; which
can be made available on request.
For further details/information, visit or write to our branch
offices, or Head Office, or visit our Website.
www.ktkbankltd.com
Common Practices followed by Our Branches
1. Display business hours
2. Render courteous services
3. Attend to all customers present in the banking hall at the close of business
hours 4. Provide separate "Enquiry" or "May I Help You" counter at large
branches
5. Offer nomination facility to all deposit accounts (i.e. account opened in
individual capacity) and all safe deposit locker hires
(i.e. individual hirers)
6. Display interest rates for various deposit schemes from time to time
7. Notify change in interest rates on advances
8. Provide details of various deposit schemes/services of the Bank
9. Issue Demand Drafts, Pay Orders, etc.
10. Display Time - Norms for various banking transactions
11. Pay interest for delayed credit of outstation cheques, as advised by
Reserve Bank of India (RBI) from time to time
12. Accord immediate credit in respect of outstation and local cheques up to a
specified limit subject to certain conditions, as
advised by RBI from time to time
13. Provide complaint/suggestion box in the branch premises
14. Display address of Regional and Central offices as well as Nodal Officer
dealing with customer grievances/complaints
FAIR BANKING PRACTICES
Customers
are requested to -
1. Ensure safe custody of cheque book and pass book
2. Preferably use reverse carbon while writing a cheque
3. Issue crossed/account payee cheques as far as possible
4. Check the details of the cheque, namely, date, amount in words and figures,
crossing etc., before issuing it. As far as possible,
issue cheques after rounding off the amount to nearest
rupee
5. Not to issue cheque without adequate balance; maintain minimum balance as
specified by the Bank
6. Send cheques and other financial instruments by Registered Post or by
courier 7. Bring pass book while withdrawing cash from savings bank account
through withdrawal slip. Get pass book updated from
time to time
8. Use nomination facility
9. Note down account numbers, details of FDR, locker numbers, etc., separately
10. Inform change of address, telephone number, etc., to the Branch
11. Inform loss of demand draft, fixed deposit receipt, cheque leaf(s)/book,
key of locker, etc., immediately to the Branch
12. Avail standing instructions facility to repeat transactions
13. Provide feedback on our services
14. Pay interest, installments, locker rent and other dues on time
15. Avail services such as ATM, ECS, EFT, etc., if offered by the branch
16. Bring any deficiency in services to the notice of the branch
17. Not to sign blank cheque/s. So also do not record your specimen signature
either on pass book or on cheque book
18. Not to introduce any person who is not personally known to you for the
purpose of opening account
COMMON AREAS OF CUSTOMER-BANKER RELATIONSHIP
SAVINGS BANK ACCOUNT .
4These accounts are designed
to help the individuals (personal customers) to
inculcate habit of saving money and to meet their
future requirement of money. The amounts can be
deposited/withdrawn from these accounts by way of
cheques/withdrawal slips. It helps the customers to
keep minimum cash at home besides earning interest ·
4Savings Bank accounts are
very popular. These accounts can be opened by eligible
persons and certain organization/agencies (as approved by the Reserve
Bank of India (RBI))
4As required by law, while
opening this account we will satisfy ourselves about
the identity, including verification of address, of a
person/s seeking to open an account, to assist in
protecting the prospective customer/s, members of the
public and ourselves against fraud and other misuses of
the banking system
4The Bank requires a
satisfactory introduction of the person/s opening the
account by a person acceptable to the Bank
4The Bank is required to
obtain two recent photographs of the person/s opening
the account, as per RBI directives
4The 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 (vide Section 139 A) from
the person/s opening the account
4The Bank will provide to
the prospective customers details of the documents
required for identification of
the person/s opening the account in addition to a
satisfactory introduction. Documents normally accepted
are the current gas/telephone/electricity bill or
ration card or voter's identity card or driving license
or passport, etc.
4 The account holder is
required to maintain certain minimum balance in the
account, as specified by the Bank from time to time,
separately for computerized and non-computerized
branches and also depending on, whether account holder
wants to avail the cheque book facility or not.
Non-compliance of this would attract service charges.
Interest at 4%p.a. is presently paid on half yearly basis
depending on minimum balance between the 10th day and
last day of the months, provided it works out to
minimum Re. 1/-
4Cheques,
dividend warrants drawn in the name of accounts holder/s will only be
collected through this account. Financial Instruments
endorsed in favor of the account holder/s will not be
collected through savings bank account.
CURRENT ACCOUNT
4Current
Accounts can be opened by individuals, partnership firms, private and
public limited companies, HUFs/specified associates,
societies, trusts, etc.
4As
required by law, while opening this account we will satisfy ourselves about
the identity, including verification of address, of a
person/s seeking to open an account, to assist in protecting
the prospective customer/s, members of the public and
ourselves against fraud and other misuses of the banking system
4The
Bank requires a satisfactory introduction of the person/s opening the
account by a person acceptable to the Bank
4The
Bank is required to obtain two recent photographs of the person/s
opening/operating the account, as per RBI directives
4The
Bank is required to obtain Permanent Account Number (PAN) or General
Index Register (GIR) Number or alternatively obtain
declaration in Form No. 60 or 60 as per Income Tax Act (vide
Section 139 A) from the person/s opening the account (i.e.
including partners of Registered/Unregistered partnership as also
Registered/Incorporated bodies/companies)
4The
Bank will provide to the prospective customers details of the documents
required for identification of the person/s opening the
account in addition to a satisfactory introduction. Documents
normally accepted are the current gas/telephone/electricity
bill or ration card or voter's identity card or driving
license or passport, etc.
4
Minimum balance as stipulated from time to time will
be required to be maintained· No interest is paid on credit
balances kept in current amount
4Service
charges are levied for :- Ledger folio used- Cheque books issued-
Non- maintenance of minimum balance- Return of cheques,
etc.
4 For opening special types of current accounts
like for Executors, Administrators, Trustees, Liquidators
etc., the Branch Manager may be contacted who will help in
opening these types of accounts
4 As per
RBI directive, the applicant (i.e. account opener) should
declare in the account opening form or
separately that he is not enjoying any credit facility /
facilities he should declare full
particulars thereof indicating the name of the bank
and name of the branch wherefrom he has
availed these facilities
TERM DEPOSIT ACCOUNTS
Bank has tailored various deposit schemes to suit the needs and expectations of
investing people in every walk of life.
Branch staff shall welcome you to seek more details and shall also be glad to
assist in the area of investment in various deposit schemes vis-à-vis your
requirements.
Term deposit accounts can be opened by individuals, partnership firms, private
and public limited companies, HUFs/specified associates, etc.·
4As
required by law, while opening this account we will satisfy ourselves about
the identity, including verification of address, of a
person/s seeking to open an account, to assist in protecting
the prospective customer/s, members of the public and
ourselves against fraud and other misuses of the banking system
4The Bank requires a
satisfactory introduction of the person/s opening the account
by a person acceptable to the Bank
4The Bank is required to obtain two recent photographs of
the person/s opening/operating the account, as per RBI
directives
4The Bank is required to obtain Permanent Account Number
(PAN) or General Index Register (GIR) Number or alternatively
obtain declaration in Form No. 60 or as per Income Tax Act
(vide Section 139 A) from the person/s opening the account
4The Bank will provide to
the prospective customers details of the documents required
for identification of the person/s opening the account in addition to a
satisfactory introduction. Documents normally accepted are
the current gas/telephone/electricity bill or ration card or
voter's identity card or driving license or passport, etc.
4Premature withdrawals are allowed, unless specified
otherwise, at the rate of interest applicable for the period
for which the deposit has run or contracted rate whichever is
lower, subject to penalty , if any prescribed by the Bank. No interest
will be paid on premature withdrawals of deposit which has
remained in the Bank for less than 15 days
4Generally loans/overdrafts against deposits are allowed
except on Certificates of Deposit (CD). Such loans are
sanctioned by charging interest at rates directed by RBI from
time to time or as prescribed by the Bank
4Deposits are renewed by the
Bank on due dates on request. As a measure of good customer
service, the Bank may intimate the depositor in advance regarding
date of maturity
4Interest on deposits is payable either monthly at
discounted value or quarterly or compounded quarterly (i.e.,
reinvestment of interest) or on the date of maturity at the
option of the depositor as applicable under particular deposit scheme
4Interest
on overdue deposit is paid if the
Interest on bank deposits is exempt from income tax up
to a limit specified by Income Tax authorities from time to
time · Presently, if total interest on deposits, per
depositor, per branch, per financial year exceeds Rs.2,500/-, the same is
subject to Tax Deduction at Source (TDS) at the rates
stipulated by the Income Tax Authorities
4The depositor may furnish
declaration in Form No. 15H preferably at the commencement of
the Financial Year for receiving interest on deposits without
deduction of tax
4The Bank
will issue TDS Certificate for the tax deducted
PAYMENT OF BALANCE IN ACCOUNTS OF THE DECEASED CUSTOMERS TO
SURVIVORS/CLAIMANTS As directed by the RBI, the banks may not insist on succession certificate
from legal heirs irrespective of amount involved. However, the banks may adopt
such safeguards in considering settling of claims as appropriate including
accepting an indemnity bond.
Standing Instructions
Standing instructions
can be given 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 any other
third party.
SAFE DEPOSIT LOCKERS
The facility of Safe Deposit Lockers is an ancillary service offered by the
Bank. The Bank's branches offering this facility will indicate/display this
information.
The major aspects governing the services are:·
4
A locker may be hired by an individual (not minor), firms, limited companies,
specified associations and societies, etc.
4Nomination facility is available to individual hirer of
Safe Deposit Locker · Loss of key should be immediately
informed to the Branch
4Lockers 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
4With standing instruction, the rent may be paid from the
deposit account of the hirer
4The Bank will hire locker to properly introduced persons
4The 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
ARTICLES IN SAFE CUSTODY
Articles like shares,
securities, etc., can be kept in safe custody with the Bank on
prescribed charges wherever such facility is offered.
Large/small boxes must be locked by the customer/s and
particulars must be written/painted thereon. The lock should
be covered by stout cloth and sealed with the customer's seal.
Relationship of Banker and customer shall be that of Bailer
and Bailee.
NOMINATION
Nomination facility is available for all deposit accounts, articles in safe
custody and safe deposit vaults.
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.
Nomination can be done in favor of one person only. However, nomination in
favor or more than one person (i.e. up to 2 persons) is permissible in jointly
operated locker accounts with common consent.
Nomination can be made, cancelled or varied by the account holder anytime
during his/her life time. While making nomination, cancellation or variation,
witness is required and the request should be signed by all account holders.
Nomination can be made in favor of a minor also.
For the existing accounts where nomination is not made, the account holder/s
can do so by filling up form available with the branches.
Customers (new as well
as existing) are advised to avail nomination facility, if they
have not availed so far.
REMITTANCE SERVICE
Customers may remit funds from one center to another center to Demand Draft or
Telegraphic Transfer (TT), etc., by paying specified charges as per the Bank's
rules.
The customers can utilize the facility of Electronic Funds Transfer (EFT)
System operated through RBI for transferring funds to and fro Kolkatta,
Chennai, Delhi and Mumbai up to Rs.5 Lacs.
Demand drafts,
telegraphic transfers and travelers cheques for Rs.50,000 and
above will be issued by the banks only by debit to the
customer's account or against cheques or other instruments
tendered by the purchaser and not against cash payment.
Similarly, such payments for Rs.50,000 and above will be made
through banking channels and not in cash.
ISSUE OF DUPLICATE DEMAND DRAFT WITHOUT RECEIPT OF NON-PAYMENT
ADVICE
As directed by the RBI, the banks will issue duplicate demand draft up to
Rs.5,000/- on the basis of adequate indemnity and without obtaining Non-Payment
Advice from the drawee branch.
TIME FRAME FOR ISSUE OF DUPLICATE DRAFT
As directed by the RBI,
the banks 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 banks will pay interest at the rate applicable for fixed
deposit of corresponding maturity in order to compensate the
customer for such delay.
CASH ORDER (i.e. PAY ORDER, BANKER'S CHEQUE)
Cash Order is issued for making payment locally
.Issue/payment of cash order for Rs.50,000/- and above is to be made only
through the bank account.
Validity period of cash
order is 6 months. This can be revalidated by the issuing
branch on written request of the purchaser.
COLLECTION SERVICE
Immediate credit of local as well as outstation cheques up to Rs.7500/- (as per
RBI guidelines from time to time) is provided to the individuals (personal
customers) 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 have to pay interest
for the period for which funds utilized.
All cheques (local and outstation) deposited by the customers are cleared by
the Bank as follows :
HIGH VALUE CLEARING: This facility is available for the clients of
selected branches at designated centers. Cheques of high value (of not less
than Rs.1 lac per instrument) are cleared on the same day.
LOCAL CLEARING: Cheques are cleared normally on the third working day,
depending on the center subject to depositing of the cheques/instruments in
time.
NATIONAL CLEARING: Cheques drawn on Metropolitan centers listed in
national clearing are cleared in 8 days.
All cheques drawn on other centres are cleared in 14 days.
The Bank will credit the proceeds of an outstation cheque within the following
time norms
4State Capital other than
North Eastern States & Sikkim - 10 working days
4Other centers - 14 working
days
If the Bank fails to do so, interest will be paid at the rate applicable for
appropriate tenure of fixed deposit for the period of delay beyond the
stipulated days mentioned above. Further, if the delay is abnormal then penal
interest at the rate of 2% above fixed deposit rate applicable will also be
paid.
Customers are requested
to deposit their cheques within the stipulated timeframe at
the branches.
INTEREST ON DEPOSITS:
The Bank pays interest on deposits as per various deposit schemes.
Interest rates are revised from time to time and made known to public.
Revised interest rates
are applicable only to the renewals and fresh deposits while
existing deposit continue to get interest at the contracted
rate.
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 instruments/statements, ledger folio charges etc.
Details of service charges will be made available on
request.
TIME-NORMS FOR VARIOUS BANKING TRANSACTIONS
1. For Cash Payment a) Through teller - 3 to 8 minutes b) Through cashier - 8
to 15 minutes
2. Receipt of cash - 5 to 15 minutes
3. For issuance of demand draft/traveler cheques/fixed deposit receipt - 15 to
25 minutes
4. Payment of demand drafts - 10 to 20 minutes
5. Payment of fixed deposit receipts - 15 to 20 minutes
6. Opening of an account - 15 to 20 minutes
7. Retirement of bills - 20 to 30 minutes
8. Updation of pass books - 5 to 15 minutes
9. Statement of accounts - Within 7 days
10. Collection of
cheques - Local - 2 to 3 days Outstation - 10 to 14
days
FOREIGN EXCHANGE TRANSACTIONS
4 Authorized dealer
since 1977 · Maintaining Nostro Accounts in 13 major
currencies such as US Dollar, Pound Sterling, Euro,
Japanese Yen etc.
4 Undertake all types of
foreign exchange transactions · Provide need based
finance in the form of pre-shipment and post-shipment
credit to facilitate exports
4 Encashment of foreign travelers cheques and Exchange of
Foreign Currency notes
4 Remittance facilities
to students for studies abroad · Remittance facilities under
BTQ and business related foreign travels
4 Swift connectivity
to increase efficiency
NRI ACCOUNTS To cater to the needs of our NRI customers, we
have multifarious schemes, yielding high rates of interest,
the details of which are highlighted below:
1. Non Resident (External) Rupee Deposit : ·
4 The flexibility of saving
either in Term Deposits or savings Account
4 Account an be opened by
remittances from abroad/transfer from existing NRE/FCNR
Accounts/Deposits of foreign exchange brought into India, during visit
to India
4 The freedom to repatriate
your entire balance, along with interest
4 Your interest is exempt
from Indian Income Tax and balance exempt from wealth
Tax
2. Non Resident (Non repatriable) Rupee Deposit : ·
4 Accounts can be
opened by way of inward remittances from abroad or transfer
from existing NRE/FCNR Accounts
4 Benefit from a higher rate
of interest · Deposit will be accepted for maturities of 6
months and up to 3 years
4 Accounts can be opened
jointly with a resident Indian
4 Funds placed under these
accounts are free from Indian Income Tax
4 The principle amount of
the deposits is non-repatriable but interest earned after
1.10.1994 is fully repatriable
3. Foreign Currency Non Resident (Bank) Deposit : ·
4 The account can
be opened in five currencies i.e. US Dollar, Pounds Sterling,
Japanese Yen, Euro and Deutsche Mark, for periods
ranging from 6 months to 3 years
4 Principle plus interest is
freely repatriable with no exchange risk, a natural hedge
against currency rate fluctuations
4 Funds places under these
accounts are free from Indian Taxes
4 Interest is calculated on
360 days basis for all foreign curing deposits 4. Non Resident (Ordinary) Rupee Deposit : ·
4 The flexibility of savings
either in term deposits or a saving Account
4 An ideal account for local
disbursements · Deposit amounts is non-repatriable ·
Any rupee income earned in India can be credited to
this account
5. Non Resident Special Rupee (NRSR) Account ·
4 Non residents
can open Savings, Current or Term Deposit accounts in Rupees
4 Joint account with
resident can be opened
4 Free debit and credits are
allowed like resident account except for investment in
shares and securities and immovable property in India
4 Principle or accrued
interest is non-repatriable
REDRESSAL OF
COMPLAINTS In case of any complaint, the matter may be first brought to the
notice of concerned branch manager for immediate redressal. If the complaint is
not redressed to the satisfaction of the customer, the matter may be taken up
with the Regional Manager concerned.
If the complainant still feels unsatisfied with the responses received, he can
address his complaint to the bank's Nodal Officer designated to deal with
customers' complaints/grievances giving full details of the case.
After exhausting all the above machinery/channels, if the customer is not
satisfied, he may write to Chairman of the Bank and ever after this, not
satisfied he is free to take recourse to the following:
A. Directorate of Public Grievances, Govt. of India, Cabinet Secretariat,
Sansad Marg, New Delhi
B. The Banking Ombudsman located in State Capitals under RBI Ombudsman
Scheme, 1995
C. The District Consumer
Forum under Consumer Protection Act, 1985
Address of the Nodal office/Regional office
Nodal Office :
CHIEF MANAGER
KARNATAKA BANK LTD
VIGILANCE CELLHEAD OFFICE
MAHAVEERA CIRCLE, KANKANADY
MANGALORE-575 002
Regional Offices:
THE ASST. GENERAL MANGER
KARNATAKA BANK LTD.
REGIONAL OFFICES
SAVALANGA ROAD
P.B.NO. 132 SHIMOGA-577 201
Tel : 08182 - 229385 / 229423
THE ASST. GENERAL MANAGER
KARNATAKA BANK LTD.
REGIONAL OFFICE
NEW KANTHARAJEURS ROAD
KUVEMPUNAGAR
MYSORE-570 023
Tel : 0821 - 2343062
THE DEPUTY GENERAL MANAGER
KARNATAKA BANK LTD.
REGIONAL OFFICE
171, THAMBU CHETTY STREET
B. NO. 1878 CHENNAI-600 000
Tel :044 - 23453220 /
23453222 / 23453223
THE ASST. GENERAL MANAGER
KARNATAKA BANK LTD.
REGIONAL OFFICE
P.B.NO. 746, KODIALBAIL POST
KODIALBAIL, MANGALORE-575 003
Tel : 0824 -
2229825
THE ASST. GENERAL MANAGER
KARNATAKA BANK LTD.
REGIONAL OFFICE
K-38, CHOUDHARY BUILDING
CONNAUGHT CIRCUS
NEW
DELHI-110 001
Tel :011
- 23417244
THE DEPUTY GENERAL MANAGER
KARNATAKA BANK LTD.
REGIONAL OFFICE
P.B.NO. 5171 MOHAN MANSION
105, KASTURBA ROAD
BANGALORE-560 001
Tel : 080 - 22955801 /
22955802 / 22955803 / 22955804
THE ASST. GENERAL MANAGER
KARNATAKA BANK
LTD.REGIONAL OFFICE
P.B.NO. 499,CTS. 122/1082ND FLOOR,
NEELIGIN ROAD
NEW COTTON MARKET
HUBLI-590003
Tel : 0836 -
2350109/2216050
THE DEPUTY GENERAL MANAGER
KARNATAKA BANK LTD.
REGIONAL OFFICE1 FLOOR,
MANISH NAGAR,
SHOPPING CENTRE 4 BUNGLOWS,
JAYAPRAKASH ROAD AZAD NAGAR
P.O., P.B.NO.12003ANDHER
(WEST)MUMBAI-400 053
Tel : 022 - 26372650
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