AISA KYON HOTA HAI
AGMSBLCKNL
08.02.2010 AISA KYON HOTA HAI
It has been decided to withdraw the stipulation of Registration of Will (in connection with Reverse Mortgage Loans). The title holder with only execute a ‘Will’ in favour of the spouse as per the draft
I
R.Legally, ‘Will’ cannot be irrevocable as the testator has every right to evoke the ‘will’ during the life time. Registration of ‘Will’ may be useful only for proving its genuineness. Registration is only a piece of evidence of execution but it has no greater sanctity.
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09.02.2010 AISA KYON HOTA HAI
Why Construction Equipment Loan?
R. During 11th plan (2007-2012) great focus has been given on infrastructure development. CRISIL estimates that investments in infrastructure construction are expected to increased by 11% in medium term and construction sector as a whole is expected to have a 17% CAGR
Line of credit for financing New Machinery/Equipments/Vehicle for construction activities. If your colleagues wish to join our E-learning Group, Pl. advise them to send a blank email to
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10.02.2010 AISA KYON HOTA HAI
Why B2B payment solution?
R. We have a widespread network of branches as also a very strong base of alternative channels like ATM, Internet banking portal etc. There is a great demand from large corporate who have dealership and agency networks to have a sound platform for B2B payments.
The dealers using ATM, Internet, POS, and Mobile phones can affect funds transfer
Bank will enjoy float funds from such accounts.
Retaining funds from the Corporate.
Cross selling other products to the dealers/agents and fee income from the business.
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11.02.2010 AISA KYON HOTA HAI
All instruments received for credit to an account either by post or over the counter must be branded with the Bank’s crossing stamp immediately on receipt.
R (a) As a measure of preventive vigilance to obviate the possibility of unscrupulous persons putting the instrument to improper use with a view to defraud the Bank.(b) To indicate bank’s interest as an agent for collection.
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12.02.2010 AISA KYON HOTA HAI
Interest provisioning on deposit accounts has to be made on the last working day of the month.
R. To ascertain the Bank’s liability to the depositors towards payment of interest on deposits and also to arrive at the approximate profit or loss.
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13.02.2010 AISA KYON HOTA HAI
Maturity proceeds of time deposits of RS. 20,000/- and above should not be paid in cash.
R. Required in terms of Income tax act, this is to curb benami transactions leading to tax evasion.
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15.02.2010 AISA KYON HOTA HAI
A cheque drawn by a Director of a company on its account can be paid even after the death of the director.
R.A company is a legal entity with perpetual succession. As the director is operating in his representative capacity and not in individual capacity, such cheques can be paid even after the death of the director
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16.02.2010 AISA KYON HOTA HAI
Chequebooks are not issued on current accounts opened for public limited companies while accepting their share application monies etc., into the account.
R. In the event of the company failing to obtain the minimum share money as prescribed and thereby the certificate of commencement of business, the entire balance should be refunded by the bank to the applicants. If a cheque book is issued, Cheques drawn have to be paid by the bank, if they are in order. It may not be impossible to refund the money to applicants.
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17.02.2010 AISA KYON HOTA HAI
Payment of DD purchased cheques drawn on SB and Current Accounts of Deceased Customers is allowed even after the information of death is recorded in the Ledger accounts.
R. The point of time relevant for the purpose of payment is the time of actual payment but not the time of posting of the instrument in the Ledger accounts. The payments are valid, as the cheques were actually paid at other centre branches without knowledge of information of death of the customer. Further, bank is holder in due course and the outlay of funds had already taken place, which are to be recovered.
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19.02.2010 AISA KYON HOTA HAI
A person who has signed the letter of relinquishment need not join the execution of indemnity letter.
R. Signing relinquishment letter implies surrendering of his right or claim not only in his share in the property but also absolving himself of future legal liability towards the bank and other legal heirs.
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20.02.2010 AISA KYON HOTA HAI
1. On the death of one of the joint depositors, the survivor does not get absolute right over the property.
Section 45 of Indian Contract Act, 1872 provides for repayment of monies received from joint depositors, on the death of one of them, jointly to the survivor and the legal heirs of the deceased. Survivor holds the property in trust for the legal heirs of the deceased.
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22.02.2010 AISA KYON HOTA HAI
We suggest premature payment to the survivor in E or S TDR before granting a loan against the TDR to him.
- Premature payment does not attract penalties in the case of accounts of deceased. Premature payment terminates the earlier contract. It obviates the possibility of future claims by the legal heirs of the deceased
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23.02.2010 AISA KYON HOTA HAI
Term Deposit Receipts cannot be presented through clearing.
R. TDRs are Non-transferable receipts. They are not negotiable instruments. Clearing is meant for settling transactions between banks on account of negotiable instruments
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24.02.2010 AISA KYON HOTA HAI
On the death of one of the joint depositors, the survivor does not get absolute right over the property.
Section 45 of Indian Contract Act, 1872 provides for repayment of monies received from joint depositors, on the death of one of them, jointly to the survivor and the legal heirs of the deceased. Survivor holds the property in trust for the legal heirs of the deceased.
If your colleagues wish to join our E-learning Group, Pl. advise them to send a blank email to
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State Bank Learning Centre, Karnal - "A Centre of Gyanodaya"
Email :
agmstckn...@sbi.co.in
Fax : 0184 - 2268370
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AGMSBLCKNL
25.02.2010 AISA KYON HOTA HAI
FCNB Deposits are not accepted for longer periods.
R. To minimise the risk in regard to such deposits. The interest rates on FCNB deposits are linked to interest rates in the international money markets and are subject to rapid and frequent changes.
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26.02.2010 AISA KYON HOTA HAI
Different Interest Rates are quoted for various currencies under FCNR (B) Scheme.
R. To align the rates with those in the respective Countries. To avoid wild cross-currency movements. To avoid arbitrage transactions.
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27.02.2010 AISA KYON HOTA HAI
Bank does not negotiate / transact foreign exchange transactions for large amounts on Saturdays.
R. London Money Market remains closed on Saturdays and Sundays. Therefore, it would be difficult for the bank to arrange for ‘proper cover‘ through RBI.
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--- Disclaimer --- The information in this mail is confidential and is intended solely for addressee. Access to this mail by anyone else is unauthorised. Copying or further distribution beyond the original recipient may be unlawful. Any opinion expressed in this mail is that of sender and does not necessarily reflect that of State Bank group. ---