Catholic Syrian Bank Limited

SYRIAN CATHOLIC BANK

Syrian Bank Limited is a private sector bank founded on November 26, 1920 inThrissur city of Kerala. The bank is headquartered in Thrissur, Kerala. The bank commenced business on January 1st, 1921 with an authorised capital of Rs 5 lakhs and a paid up capital of Rs 45,270. Catholic Syrian Bank has 316 branches, over 125 ATMs, and a net profit of Rs 36.56 crore in 2007-08 on revenues of Rs 5,960 crore. Catholic Syrian Bank has a strong presence in Cathol rural India and around 80% of the bank’s branches are located in the semi-urban and rural areas of India.

The genesis of Indian Banking is associated to a large extent with Swadeshi Movement, which inspired many Indians to promote Swadeshi Banks in the beginning of the 20th Century. The enterprising founders of Catholic Syrian Bank Ltd also found this period an opportune moment to promote the establishment of a bank. Thus was born The Catholic Syrian Bank Ltd , Eight decades ago, on 26th November 1920 to be exact at Thrissur,which in later years acquired the unique distinction of being a centre with the highest concentration of banks in the South. The founder directors of the bank were people of eminence known for their foresight, integrity and initiative.

. The policy they laid down has been consistently upheld by the successive generations who guided the destiny of the institution. The bank commenced business on January 1st, 1921 with an authorised capital of Rs.5 lakhs and a paid up capital of Rs. 45270/-

During the first two decades of its functioning, the Bank concentrated only in Kerala. Banks and credit institutions which proliferated especially in Kerala received a jolt and many of them came to their doom following the crash of the Travancore National Quilon Bank in 1938 followed by Palai Central Bank

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in1960. During the period many small banks came to the verge of collapse shaking the confidence of the public and what followed was a process of consolidation. The strategy of mergers and amalgamations of small banks with bigger banks brought the number of banks within controllable limits, thereby making the industry's base strong. In 1964-65, The Catholic Syrian Bank Ltd took part in taking over the liabilities and assets of five small/medium sized banks in Kerala. The expansion programme initiated during these years gathered momentum in the subsequent years.

In August 1969, the Bank was included in the Second Schedule to the Reserve Bank of India Act 1934. In 1975, the Bank attained the status of "A" Class Scheduled Bank when its total Deposits crossed Rs.25 crores. The necessity of imparting training to staff looked very important and a modest beginning was therefore, made in setting up a Training College in 1975. In the same year the Bank entered the field of foreign Exchange. At a very early stage, the Bank recognised mechanisation as an effective tool of management and streamlined its accounting procedures by introduction of Data processing system. From November 1975, reconciliation of inter-branch accounts was mechanised by using IBM Data processing machines.

The decade of the seventies saw the evolution of a new culture in Indian Banking. Nationalisation of banks imposed "Social Control" and imparted new ethos to commercial banking . What followed was a massive expansion of bank branches with a distinct thrust on remote rural belts. Special schemes were formulated to cater to the diverse credit needs of small scale industries, road transport operators, agriculturists,and other self employed entrepreneurs.

The Catholic Syrian Bank Ltd did not lag behind in taking up the challenge and more than 75% of its clientele belong to small and economically weaker strata of Society. The Bank has a strong rural base with around 80% of the

branches in rural and semi- urban areas.

Investments in money market and capital market instruments are being expanded and steps are being taken to have an in house equity research wing so as to face the challenges of the future. The Bank has also geared up its machinery to increase its market share of corporate finance in the days to come.

The real inner strength of a growing organisation lies in its staff resources. The Bank has been singularly fortunate all these years in creating an environment in which the employees at all levels could play their role.

Their contribution to the growth of this institution has been invaluable. The Bank has a very dynamic team on its Board of Directors who are guiding the destiny of the Bank leading to growth and prosperity.

At present, the bank has a network of 363 branches and 1 extension counter which includes NRI/SSI/Industrial Finance and Service branches. The Bank also plans to open more number of branches in a phased manner.

Products & Services » Advances » VIP Car Loan

Eligibility For Individuals /Groups

having funded limits not less than Rs.25 lakhhaving Term Deposits of not less than Rs.25 lakh with the Bank for acquiring

vehicles for personal use.

Quantum of Finance 100% of Invoice Value excluding Insurance, registration, road tax etc.,

Equated monthly instalment for Rs. 1 Lakh

EMI for 3 Years - Rs.3430/-

EMI for 4 Years - Rs.2745/-EMI for 5Years - Rs.2340/-

Rate of Interest 13.75%

Security Hypothecation of the Vehicle.

Guarantee One person with good means.

LIFE INSURANCE

We are acting as Corporate Agent of the leading Life Insurance Company, M/s Birla Sun Life Insurance Company Ltd. Gist of few of their unit linked life insurance schemes marketed by us are furnished

hereunder.

A unit linked life insurance plan

Premium paying period - minimum 3 years

Death benefit - Higher of SA or Policy Fund

Minimum sum assured - Rs.200000/-

Six investment fund options

Tax benefits under section 80C & 10(10D) of income tax act.

SIMPLYLIFE

A unit linked life insurance plan

10 year regular premium pay.

Annualised premium - Minimum Rs.10,000/- and Maximum Rs.1,00,000/-

Sum assured 5 times the Annual Life Insurance Premium.

Minimum age at entry 8 Yrs- Maximum age at entry -50 Yrs

No medical check ups for the target group- including NRIs from approved countries.

Two fund options

Tax benefits under section 80C & 10(10D) of Income Tax Act.

3)SupremeLife

A unique unit linked Insurance policy for the higher income group.

Dual death benefits- Sum assured+ Fund value

In-built Accidental TPD upto Rs. 50 lakhs.

Six investment fund options

Tax benefits under section 80C & 10(10D) of Income Tax Act.

4.Children’sDreamPlan*@

Designed to provide financial security to children when they become an adult

Guaranteed maturity benefits

Dual Death Benefit: On Death basic sum assured + Enhanced sum assured will be paid to the nominee

Tax benefits under Sec. 80C and Sec.10 (10D)*

Term: Maximum 18 years less the age of child at entry

Surrender Benefits: Increasing Surrender values with no penalty after 3 years.

Three fund options with different equity exposures and option to switch anytime

GENERALINSURANCE

We are acting as Corporate Agent of the leading General Insurance Company, M/s. The New India Assurance Company Ltd. Gist of unique personal insurance schemes launched by us in association with them are furnished hereunder

Low premium Mediclaim Insurance Policy

Built in accidental death cover

Issued on floater basis.

Cashless settlement at major hospitals

Four Plans- Sum Insured Rs.50,000/- to Rs.5,00,000/-

Income Tax benefits upto Rs.10,000/- u/s 80D of I.T. Act

Travel Support SchemeUnique Travel Insurance Scheme

Ideal for Pilgrims, tourists& travelling public

Nominal premium of Rs.50/-.

Personal accident cover of Rs.100000/-

Reimbursement of hospitalization expenses upto Rs.100000/- (due to road accidents)CSB… Tax Savings Support

Download Application Form

As per Finance Act 2006, deposits made with banks, in terms of Central Government notification (No.203/2006 dated 28.07.2006) are eligible for deduction under Section 80 C for income tax purpose. The scheme has been short titled as ‘Bank Term Deposit Scheme 2006’. Accordingly, we have renamed the deposit scheme as “CSB… Tax Savings Support”.

The salient features of which are mentioned below:

1. Title and types of deposit

Deposits can be made as ordinary fixed or reinvestment deposits under the

http://www.csb.co.in/uploadedfiles/customimages/5_42_340_8663904.pdf

following schemes:

(a) “CSB Tax Savings Support” - Income. (b) “CSB Tax Savings Support” - Growth.

2. Eligibility

The deposits can be opened by:

(a) Individuals either singly or jointly. (b) Hindu undivided family.

The single deposits shall be accepted from an individual for himself or in the capacity of the Karta of the Hindu undivided family.

The joint deposits shall be accepted from two adults or from an adult and a minor jointly, and payable to either of the holders or to the survivor. *

* In the case of joint deposit, the deduction from income under section 80C of the Act will be available only to the first holder of the deposit.

3. Amount of Investment

The amount of investment shall be Rupees one hundred or multiples thereof, subject to a maximum of Rupees one lakh in a financial year.

4. Period of Deposit

Deposit shall be for a period of five years.

5. Rate of interest

(a) The rate of interest will be the rate applicable for domestic term deposits fixed by the bank from time to time. (a) The interest will be paid either in lump sum at the time of maturity or every quarter/ month (at discounted rate) as per the request. (b) Senior Citizen will be eligible for additional interest fixed by the bank from time to time.

6. Nomination

(a) Nomination can be made by the single holder or the joint holders, as the case may be, in favour of any one individual. (b) Nomination can be made any time before the date of maturity of the deposit, i.e either on the date of deposit or during the tenor of deposit. (c) Nomination shall not be accepted in respect of a deposit applied/accepted for and held by or on behalf of a minor.

7. Encashment on maturity

The deposit can be encashed only after five years and no premature withdrawal is allowed and shall not be pledged to secure loan or as security to any other asset.

8. Pledging of term deposit

The deposits under the scheme shall not be pledged to secure loan or as security to any other asset.

9. Income tax

(a) Interest on this term deposits will be liable to tax under the Act, on the basis of annual accrual or receipt depending upon the simple interest or compound interest scheme and tax on such interest will be deducted as usual. (b) The tax on such interest shall be deducted in accordance with the provisions of section 194A or section 195 of the Act.

The amount invested in the scheme is eligible for tax exemption u/s 80C upto a limit of Rs.1,00,000/- (One Lakhs Only) in a financial year.

Products & Services » Deposits » Fixed Deposit

Minimum amount for opening account is Rs.100/- Accounts may be opened in odd sums.

Deposits are accepted for periods of 7 days and above and even for a period where terminal quarter or month is incomplete.

Interest is paid at quarterly or longer rests at the full value of interest.The same is paid monthly at the discounted value of interest.

Features The maximum period for which term deposits are accepted is 10 years.

Exceptions

Deposits accepted under Court orders.

Deposits in the names of minors for protection of minor's interest. In case of minors, accounts can be opened.

In the single name of the minor under guardinship, the deposit being repayable to him/her.

In the single name of the minor under guardianship, the deposit being repayable to the guardian.

In the name of the minor, jointly with the guardian, the deposit being repayable to them jointly / former or survivor /either or survivor.

Products & Services » Deposits » Family Welfare

Reinvestment deposit scheme. Interest accrues both on the principal and the interest thereon.

Minimum amount for opening the account is Rs.100/- Accounts may also be opened in odd sums.

Deposits are accepted for a minimum period of six months for periods in multiples of three months or in incomplete quarters.

Features The maximum period for which term deposits are accepted is 10 years.

Exceptions

Deposits accepted under Court orders.

Deposits in the names of minors for protection of minor's interest.

In case of minors, accounts can be opened in the single name of the minor under guardianship, the deposit being repayable to him/her.

In the single name of the minor under guardianship, the deposit being repayable to the guardian.

In the name of the minor, jointly with the guardian, the deposit being

repayable to them jointly /former or survivor/either or survivor.Products & Services » Deposits » CSB Students Support Savings Scheme

CSB...Students Support Savings Scheme

A savings bank account with the following features.

Eligibility: Students of recognized/reputed Schools/Colleges/ Professional Course Entrance Coaching Centres including Professional Colleges, from Standard IX onwards upto Final Year of Diploma/ Graduation/Post Graduation.

Introduction: By the Head of the Educational Institution where the student is pursuing his/her studies or by any properly introduced existing customer. If the account is opened with the introduction of a person other than the Head of the Institution, satisfactory proof to the effect that the applicant is a student, such as copy of the fee receipt, certificate from the educational institution etc should be produced.

Initial Remittance and Minimum Balance: The accounts can be opened and operated on Zero balance basis and there will be no stipulation regarding minimum balance.Cheque Books and ATM CardsATM Cards/Global Support Cards will be issued to account holders under this scheme, wherever feasible, free of cost. However, no cheque books will be issued, irrespective of whether ATM card/ Global Support Card has been issued or not. Products & Services » Advances » Casy Mithra

CASY MITHRA - A PERSONAL LOAN SCHEME FOR INDIVIDUALS

Purpose of Advance : For any legally permitted purpose

Amount of Advance

Minimum Rs. 0.50 lakhMaximum Rs. 25.00 lakh

Salaried Persons 24 times of net monthly income of the applicant (In case the spouse of the applicant stands as guarantor, his/her net income also can be added for arriving at the quantum of loan)

Others 2 times of the annual taxable income of the loan.

Security

For loan amount upto and inclusive of Rs. 10.00 lakh: House plot/prime commercial plot, with or without building keeping 40% margin

For loan amount above Rs. 10.00 lakh Residential property/prime commercial Property, with building keeping 40 % Margin.

Guarantee Personal guarantee of spouse of the applicant

Rate of interest < Floating rate - 15.75% p.a.

Repayment Period Maximum 5 years

Documents to be produced

Proof of Identity & Residence, Assets, Income etc. from authority.

Photograph of the applicant and guarantors.Other documents as decided by the sanctioning authority

Products & Services » Advances » Gold Loan / Kanakashree

GoldLoan -GeneralCategory

Finance upto Rs.900.00 per gram For HALLMARKED GOLD - Special Rate - Rs.950/ per gram Interest

rate - 13.00% Period - 1 year

Gold Loan under Agriculture - Interest rate - 9.00% Finance upto Rs.950.00 per gram

Kanakashree

A unique Overdraft facility against pledge of Gold Ornaments at an interest rate of 14.50% p.a.Finance upto Rs.900.00 per gram

Gold Loan - CSB...Ezee Gold Cash

Finance upto Rs.1000.00 per gram For HALLMARKED GOLD - Special Rate - Rs.1050/ per gram Interest

rate - 10.00% Period - 6 months.

Products & Services » Advances » Medicash

An exclusive Overdraft facility for Registered Medical Practitioners with MBBS/BDS and higher qualifications for meeting their financial requirements.

Quantum of finance Rs.1 lakh or 5 times monthly Gross income, whichever is less.

Rate of interest 14.75% p.a.

Security Assets acquired under Bank Finance

Guarantee One person of good means, preferably spouse.

Repayment

Renewable every year.Interest to be paid as and when debited.

Attractive features Being an Overdraft Facility with in-built operational flexibility, interest to be paid on the actual balances only. Products & Services » Advances » Prime Lending Rates/Service Charges

Benchmark PLR AND SERVICE CHARGES ON LOANS AND ADVANCES

Benchmark PLR and Maximum spread.

BENCHMARK PLR OF THE BANK IS FIXED AT 14.75% with a maximum spread of 4.50%.

Service charges Processing fee

Upto Rs.25,000/ - Nil

Above Rs.25,000/ - 1.00% Minimum Rs.250/-.

For Agrl. Term loans - 1% of the loan amount sanctioned (one time only)

Adhoc sanction 2% of adhoc limits sanctioned with a minimum of Rs.500/- and maximum of Rs.10,000/- per sanction.

Non-fund based limit 50% of rates as above. For UBD (Rubber Bills) Rs.100/- per lakh - (Minimum Rs.100/-)

for fresh as well as renewal

The upper ceiling of processing fee has been fixed as Rs.2.00 lakh

Commitment Charges

Delay in availing sanctioned limits by borrowers causes revenue loss to the bank. So, commitment charge for delayed availment of advances is being

levied as follows..

Commitment charges at the rate of 1% p.a for all advances availed after three months from the date of sending sanction communication from the branch to

the party.

The commitment charge is worked out for the actual number of days from the date of communication of sanction terms, to the date of availment.

The commitment charge is not collected in the following cases :

Non-fund based facilities.

Working Capital limits for units to be established where Term Loans are sanctioned by our bank or any Term lending institution and where there is

stipulation to release Working Capital limit after completion of construction / installation of plant and machinery etc

Working Capital limits for materials imported directly by the borrowers and the delay on availment of limit was for non receipt of materials.

Delay in compliance to documentation formalities due to external factors. Advances under Govt. Sponsored Schemes.

The commitment charge is collected in full at the time of first disbursal of the facility.

Documentation Charges

Documentation charge is collected for all fresh advances and for renewal and enhancements where fresh / additional documents are got executed. The

charge is not be collected for review of an account.

It is being collected as follows at the time of execution of documents

Advances Documentation charges

Above Rs.10,000/- upto Rs.1 Lakh - Rs.100/-

Above Rs.1.00 lakh upto Rs.10 Lakhs - Rs.300/- Above Rs.10 Lakh - Rs.500/-

Documentation charges are not be collected for staff loans, loans under Govt. sponsored schemes, DRI loans, advances against deposits, Gold Loan, IVP, KVP, NSC, UTI units, LIC and one time discount bills, cheques, DDs and

other instruments.

Appraisal fee for Gold Loan.

Appraisal fee for Gold Loan 0.25% of loan amount minimum Rs.5/- and maximum Rs.100/-.

Folio Charges Rs.150/- per folio with 40 entries. If the number of entries are less than 40,

folio charge will be on pro-rata basis with a minimum of Rs.75/-.

Folio charges are not collected for the following:

LDR, LRD, DRI Loans, Advance to Weaker sections under Govt. Sponsored Scheme, IRDP, Gold Loan, NPA and all Staff Loans.

Service Charges Service charges are levied on all advance accounts except on the following:

LDR / LRD

DRI Loan

Advances to Weaker Sections under Govt. Sponsored Schemes.

IRDP

Gold Loans (Ordinary & Agriculture)

NPA Recalled All Staff Loans.

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Legal Scrutiny Charges

For Advances upto Rs.5 Lakhs - Rs.50/- for every Rs.10,000/- of advance amount. Min.Rs.100/- and Max. Rs.1000/-

For advances above Rs.5 Lakhs - Rs.1500/- .

Stock Audit Fee

Advance of Rs.1 Crore and above upto Rs.2 Crores. Rs.2000/- + Service Tax.

Above Rs.2 Crores and upto Rs.3 Crores. Rs.3000/- + Service Tax

Above Rs.3 Crores and upto Rs.4 Crores. Rs.4000/- + Service Tax Above Rs.4 Crores. Rs.5000/- + Service Tax

Bank Guarantee Commission

Performance Guarantee Rs.100/- + 2% p.a. or part thereof.

Other than performance guarantee Rs.100/- + 3% p.a. or part thereof.

For Bank Guarantees fully secured by Fixed Deposits, no commission is being levied.

Valuation Expenses and Inspection charges are also being levied for advances at actuals.

Products & Services » Advances » Personal Loan

CONSUMER LOAN (PERSONAL) FOR EMPLOYEES OF REPUTED FIRMS

Permanent employees of reputed firms and institutions and also professionals come under the purview of the scheme.

The purpose of the loan is to meet the personal necessities of the applicant. The maximum loan amount is Rs. 15,000/-.

The loan should be repaid in 24 equal monthly instalments.

Interest Rate 16.25% p.a.

Products & Services » Advances » Agricultural Finance

Need -based finance is provided in the following forms for agricultural and allied activities.

Short term production loans ( crop loans) for purchase of inputs.

Loans for purchase of farm machinery.

Loans for horticulture and plantation.

Loans for allied agricultural activities which include dairy, poultry, goat/sheep rearing, fishery, prawn culture, piggery, sericulture, aquaculture, ductery,rabbit farming,quail farming mashroom cultivation etc.

Loans for construction of biogas plants.

Note : Margin, rate of interest and security norms for the loans are subject to the guidelines issued by the Reserve Bank of India from time to time . Products & Services » Advances » VIP Car Loan

Eligibility For Individuals /Groups

having funded limits not less than Rs.25 lakhhaving Term Deposits of not less than Rs.25 lakh with the Bank for

acquiring vehicles for personal use.

Quantum of Finance 100% of Invoice Value excluding Insurance, registration, road tax etc.,

Equated monthly instalment for Rs. 1 Lakh

EMI for 3 Years - Rs.3430/-

EMI for 4 Years - Rs.2745/-EMI for 5Years - Rs.2340/-

Rate of Interest 13.75%

Security Hypothecation of the Vehicle.

Guarantee One person with good means.

NRI Services » NRO Account

RUPEE ACCOUNTS

Non-Resident Ordinary Accounts (NRO Accounts)

Features Normally Operated for crediting rupee earnings/income, such as dividends, interest, rent, pension etc.

Joint A/Cs Permitted with residents.

Types

Current/Savings/Recurring/Term Deposits.

REPATRIABILITY Current income such as rent, dividend, pension, interest,etc. subject to payment of taxes Also an amount upto USD 1 million for purposes such as education,medical expenses,sale proceeds of immovable properties held for ten years etc.per calendar year from the balances in NRO account,subject to payment of applicable taxes

Tax Interest earnings are subject to deduction of income tax at source.NRI Services » NRE Account

Non-Resident (External) Rupee Accounts (NRE)

Features Total Repatriability and Tax benefits.

Joint A/Cs With other NRIs Only. However a resident can operate the account against a power of attorney for local disburesements only.

Types Current/Savings/Recurring/Term Deposits.

Period for Term Deposits Minimum 12 months,Maximum 120 months

Remittances to the a/c

From abroad

Proceeds/income of investments of repatriable nature

Transfer from other NRE/FCNR accounts

Repatriability Balance plus interest accrued can be repatriated abroad at any time.

Tax benefits Exempt from Income Tax, Wealth Tax and Gift Tax. NRI Services » Forex Rates

FOREIGN EXCHANGE RATE - BUYING AS ON 10/09/2009 CURRENCY TT TC FCN CLEAN

USD 48.13 47.65 47.40 48.06 GBP 79.34 78.55 78.15 79.23 EUR 69.89 69.20 68.80 69.78 JPY 52.02 51.50 51.94 AUD 41.18 440.75 41.11 CAD 44.40 43.95 44.34 CHF 46.00 45.55 45.93 SGD 33.61 33.30 33.56

NRI Services » Investment Opportunities

Investment opportunities are available to NRIs both on repatriation and non-repatriation basis. Investment on repatriation as well as non-repatriation basis is permitted in the following categories.

Government dated securities/treasury bills.

units of domestic mutual funds

Bond issued by a public sector undertaking (PSU) in India

Shares in public sector Enterprises being dis-invested by the Government of India,provided the purchase is in accordance with the terms and conditions stipulated in the notice inviting bids.

Shares and convertible debentures of Indian companies through stock exchange under Portfolio Investment scheme(PIS).

Deposits with Indian cmpanies , non banking finance companies registered with RBI , housing finance companies and other financial

institutions

Other investments on non-repatriation basis:

units of Money Market Mutual Funds in IndiaCapital of a firm or proprietary concern in India, not engaged in any

agricultural or plantation activity or real estate business

Immovable Property <

NRIs can aquire immovable property in India other than agricultural/plantation property or a farm house.

NRIs can reptriate sale proceeds of immovable property acquired in India to the extent of repatriable funds used for acquiring the property,without any lock-in peirod upto two residential properties.

In respect of properties acquired while they were residents , sale products upto USD 1 million can be repatriated, subject to payment of applicable taxes.

Portfolio Investment Scheme

NRIs can purchase /sell shares /convertible debetures of Indian companies on Stock Exchanges under Portfolio Investment Scheme(PIS).

Under this , the NRI has to route all the transactions through an account

opened for the purpose with a designated branch.

NRI/PIO can purchase share upto 5% of the paid up capital of an Indian company.All NRIs/PIOs taken together cannot purchase more than 10% of the paid up value of the comapny, which can be raised to 24% by the company by passing a General Body Resolution.

For investments on repatrition basis payments should be made by way of inward remittance from abroad or debit to NRE/FCNR account.The payment can be made from NRO account also in the case of investment on non-repatriation basis

Sale proceeds of repatriable investments can be credited to the NRE/NRO depending on the nature of investment,i.e repatriable or non-repatriable. Our Fort Mumbai branch is designated to offer Portfolio Investment Services

nterest Rates » Domestic Deposits

Interest Rates on Domestic Term Deposits(% Per Annum) (Effective from 19-08-2009)

Period Below Rs 50 Lac 7 to 14 days (Minimum amount of deposit Rs 5 lac) 2.00 15 days to 45 days 3.00 46 days to 90 days 4.00 91 days to 179 days 5.25 180 days to less than 1 year 6.25 1 year to less than 3 years 7.25 3 years to and including 10 years 7.75

Interest Rate for Acharya Deposits effective from 19.08.2009 < Rs 50 Lac

6 months to less than 1 year 6.75 1 year to less than 3 years 7.75 3 years to and including 10 years 8.25

Effective from 01.01.2007, where term deposits (opened on or after 01.01.2007) are closed prematurely, the rate of interest payable shall be the one as applicable for the period for which the deposit actually remained with the bank, ruling on the date of the deposit, less 1% penalty.

Annualised Yield for Domestic Term Deposits (% Per Annum) Period Deposits of less than Rs 50 lac 1 Year 7.45 2 Years 7.73 3 Years 8.63 4 Years 8.98 5 Years 9.36 6 Years 9.75 7 Years 10.16 8 Years 10.60 9 Years 11.06 10 Years 11.55

ACHARYA DEPOSITS Period Annualised Yield for Deposits of less than Rs 50 lac

(% p.a.) 1 Year 7.98 2 Years 8.30 3 Years 9.25 4 Years 9.66 5 Years 10.09 6 Years 10.54 7 Years 11.02 8 Years 11.52 9 Years 12.06

10 Years 12.63

Interest Rates on Domestic Savings Bank Deposits Domestic Savings Bank Deposits 3.50% p.a.

Interest Rates » Non-Resident Deposits

Interest Rates on NRE Term Deposits (% p.a.) w.e.f. 01.09.2009 Period Interest Rate (% p.a.)

1 year to less than 2 years 3.08 2 year to less than 3 years 3.10 3 years to and including 10 years 3.74

Interest Rates on FCNR(B) Term Deposits (% p.a.) w.e.f. 01.09.2009

PERIOD USD GBP EUR JPY CAD AUD 1 year to less than 2 years 2.33 2.23 2.30 1.82 2.55 5.86 2 to less than 3 years 2.35 2.96 2.77 1.57 2.30 5.97 3 to less than 4 years 2.99 3.62 3.21 1.63 2.93 6.38 4 to less than 5 years 3.45 4.06 3.53 1.72 3.34 6.71 5 years 3.79 4.34 3.78 1.83 3.64 6.84

Interest Rates on NRO Term Deposits (% p.a.)

Same as for Domestic Term Deposits

Interest Rate on Non Resident Savings Deposits (% p.a.) NRE 3.50 NRO 3.50

Please confirm the interest rates with any of our nearby branches before

remittance.

Effective from 01.01.2007, where term deposits (opened on or after 01.01.2007) are closed prematurely, the rate of interest payable shall be the one as applicable for the period for which the deposit actually remained with the bank, ruling on the date of the deposit, less 1% penalty.

Service Charges Name of the Bank The Catholic Syrian Bank

LtdSavings Bank A/c - No frills A/c Centres Minimum

BalanceS B Accounts without Cheques facility

Metro Rs 300Urban Rs 200Semi Urban Rs 100Rural Nil

Yearly service charge – Non maintenance of minimum balance

Centres ChargesMetro Rs 40Urban Rs 30Semi Urban Rs 15Rural Nil

Cheque ;books charges (10 leaves) Centres ChargesMetro Rs 50Urban Rs 40Semi Urban Rs 30Rural Rs 25

Saving Bank Accounts with Cheque facilityMinimum Balance Centres Minimum

BalanceMetro Rs 500Urban Rs 300

Semi Urban Rs 200Rural Rs 100

Charges for non maintenance thereof

Centres ChargesMetro Rs 80Urban Rs 60Semi Urban Rs 32Rural Rs 16

-2- Saving Bank Accounts without Cheque facilityMinimum Balance Centres Minimum Balance

Metro Rs 300Urban Rs 200Semi Urban Rs 150Rural Rs 100

Charges for non maintenance thereof

Centres ChargesMetro Rs 80Urban Rs 60Semi Urban Rs 32Rural Rs 16

Other savings bank account facilities

Issue of Duplicate Statement Presently NilIssue of loose cheque leaves Presently NilIssue of duplicate pass book Issue of duplicate pass book Rs.25.00

per folioMode of calculation of minimum balance

the balance at the close of the day.

Remittance Facilities through own bank

DD- Issue Up to 500/- = Rs 10/-,

Rs 501/- to Rs 1000/- = Rs 15/-

Rs 1001/- to Rs 5000/- = Rs 20/- Rs 5001/- to Rs 10000/- = Rs 30/- Above Rs 10000/- upto Rs 1.00 lakh = Rs 2.50 / 1000 with mini. of Rs.30.00Above Rs 1.00 lakh = Rs 2.00/1000 with mini. of Rs.250/- & max. of

Rs.5000/-In case of drafts drawn on MICR centres Rs.2/- per DD extra.For sale of DD’s over Rs.10000/- against tender of cash 10% of theCommission extra.

-3-

DD-Cancellation Presently NilDD-Duplicate Upto Rs.10000/- - Rs.50.00

Above Rs.10000/- Rs.100.00 + Cost of stamp paper for indemnity bond.

DD-Revalidation Rs.20.00PO - Issue Up to Rs. 500/- = Rs 10/-,

Rs 501/- to Rs 1000/- = Rs 20/-

Rs 1001/- to Rs 5000/- = Rs 25/- Rs 5001/- to Rs 10000/- = Rs 30/- Above Rs 10000/- upto Rs 1.00 lakh = Rs 2.00 / 1000 with mini. of Rs. 30.00Above Rs 1.00 lakh = Rs 1.00/1000 with mini. of Rs.200/-For sale of PO against cash/cheque drawn on accounts with balance maintained out of cash remittance, 10% of the commissionextra.

PO-cancellation Presently NilPO-Duplicate Presently NilPO-Revalidation Presently NilTT - Issue Up to Rs 500/- = Rs 10/-,

Rs 501/- to Rs 1000/- = Rs 15/-Rs 1001/- to Rs 5000/- = Rs 20/- Rs 5001/- to Rs 10000/- = Rs 30/- Above 10000/- upto Rs 1.00 lakh = Rs

2.50 / 1000 with mini. of Rs. 30/-Above Rs 1.00 lakh = Rs 2.00 /1000 with mini. of Rs.250/- & max. of Rs.5000/-In case of TTs, telephone/telegram charges should be extra.For sale of TT’s over Rs.10000/- against tender of cash 10% of theCommission extra.

-4-

TT - Cancellation Presently NilTT-Duplicate Presently NilTT-Revalidation Presently NilEFT Charges- inward Presently Nil EFT Charges- outward Presently NilRTGS-Outward Rs.1.50 per 1000/-

Minimum Rs. 150/-Max. Rs. 5000/-

RTGS-Inward Rs. 100/-NEFT-Outward Rs. 1.00 per 1000/-

Minimum Rs. 25/-Max Rs. 2500/-

NEFT-Inward Presently NilCollection of Cheques Presently NilRemittance Facilities through other bank

DD- Issue Up to 500/- = Rs 10/-,

Rs 501/- to Rs 1000/- = Rs 15/-

Rs 1001/- to Rs 5000/- = Rs 20/- Rs 5001/- to Rs 10000/- = Rs 30/- Above Rs 10000/- upto Rs 1.00 lakh = Rs 2.50 / 1000 with mini. of Rs.30.00Above Rs 1.00 lakh = Rs 2.00/1000 with mini. of Rs.250/- & max. of Rs.5000/-In case of drafts drawn on MICR centres Rs.2/- per DD extra.For sale of DD’s over Rs.10000/-

against tender of cash 10% of theCommission extra.

DD-Cancellation Presently NilDD-Duplicate Upto Rs.10000/- - Rs.50.00

Above Rs.10000/- Rs.100.00 + Cost of stamp paper for indemnity bond.

DD-Revalidation Rs.20.00PO - Issue No such arrangementsPO-cancellation No such arrangements

-5-

PO-Duplicate No such arrangementsPO-Revalidation No such arrangementsTT - Issue No such arrangementsTT - Cancellation No such arrangementsTT-Duplicate No such arrangementsTT-Revalidation No such arrangementsEFT Charges- inward No such arrangementsEFT Charges- outward No such arrangementsRTGS-Outward No such arrangementsRTGS-Inward No such arrangementsCollection of Cheques Presently NilForeign Exchange Transactions Presently NilRemittance Outward 0.25 % (Minimum Rs 250/-)Remittance Inward Presently Nil TCs - Selling Not exceeding 1%TCs - Encashing Presently NilTCs - Foreign Currency Presently NilOther Services For issuing Bank Certificates on

security paper in respect of clean remittances from abroad and/or for encashment of foreign currency travelers cheques/foreign currency notes Rs100/- per certificate.

-6- Cheque Collection Local Upto & inclusive of Rs.25000/- =

Rs.25.00/ instrumentRs.25000/- to Rs.100000/- = Rs. 50.00/ instrumentAbove Rs.100000/- = Rs.100.00 / instrument

Outstation through own bank Up to Rs 500/- = Rs 10/-,Rs 501/- to Rs 1000/- = Rs 15/-,Rs 1001/- to Rs 5000/- = 25/-Rs 5001/- to Rs 10000/- = Rs 30/-Above Rs 10000/- upto Rs 1.00 lakh = Rs 4.00 / 1000 with mini. of Rs.30/-Above Rs 1.00 lakh – Rs 3.00/ 1000 with mini. of Rs.400/- & max. Rs.10000/-Actual postage / courier charges are to be collected extra.For cheque received from other banks drawn on us or on other banks coming within the clearing 50% of the stipulated usual rate shall be collected for OBC .In case collection through Local collection , LC charge need to be collected extra by the branch undertaking LC

Outstation through another bank Up to Rs 500/- - Rs 10/-,Rs 501/- to Rs 1000/- - Rs 15/-,Rs 1001/- to Rs 5000/- - Rs 25/-,Rs 5001/- to Rs 10000/- - Rs 30/-Above Rs 10000/- upto Rs 1.00 lakh –

Rs 4.00 / 1000 with mini. of Rs.30/-Above Rs 1.00 lakh – Rs 3.00/ 1000 with mini. of Rs.400/- & max. Rs.10000/-Actual postage / courier charges are to be collected extra.For cheque received from other banks drawn on us or on other banks coming within the clearing 50% of the stipulated usual rate shall be collected for OBC .In case collection through Local collection , LC charge need to be collected extra by the branch undertaking LC.

-7-

Bouncing of cheques- Local Cheques returned by us through

clearing:- @0.25% of the amount of cheque subject to a minimum of Rs.50/- and a max. of Rs.500/-Cheque deposited by our party and are returned to us through clg:- Rs.10/- per instrument irrespective of the amount

Bouncing of cheques- outstation- through own bank

50% of the stipulated usual OBC commission. The drawee branch shall collect Rs.50/- for return of each such instrument from drawer’s a/c in case cheque are drawn on our branch.

Bouncing of cheques- outstation- through another bank

50% of the stipulated usual OBC commission.If the instrument is drawn on us, the concerned drawee branch shall collect Rs.50/- from the drawer’s a/c per each such return instrument.In case OBC of other bank /other branch is to be collected through LC and is returned:-.Rs.50/- shall be deducted by the branch collecting cheque through LC. While 50% of the stipulated OBC commission shall be collected by sending branch or from lodger bank as the case may be

Retail Loan Scheme Name Processing Fee Documentation

chargesOther Charges(Rs.)/P.A(Service charge) (in Rs.)

Casy mithra Upto Rs.25000/=Nil Above Rs.25000/=- 1.00 % of the loan amount. Minimum-Rs.250/= Upper ceiling fixed at Rs.2.00 lakhs per account.

>Rs. 10000 upto Rs.1Lakh

= Rs.100/=

Rs. 1 Lakh upto Rs.10 Lakh

= Rs.300/= Above Rs. 10 Lakh = Rs.500/=

Upto Rs 25000 10Casy Cash >Rs 25,000/-

to Rs 2 Lakh25

T.P.L Scheme >Rs 2 Lakhs to Rs 3 Lakhs

75

Medi Cash >Rs 3 Lakhs to Rs 5 lakhs

125

Profession Plus >Rs 5 lakhs to Rs 10 lakhs

175

CSB Women Support

>Rs 10 lakhs to Rs 25 lakhs

250

LMV-Under General Scheme,VIP Car Loan Scheme


500


750

>Rs 75 lakhs to Rs 1 Crore

1000

> Rs 1Crore 2000Housing Loan 0.50 % of the

Loan amount Rs.500/= Additional Service

Charge Rs.100/-per Lakh

- 8 -

Kanakasree Nil Rs. 10000 upto Rs.1Lakh

= Rs.100/=

Rs. 1Lakh upto Rs.10 Lakh

= Rs.300/= Above Rs. 10 Lakh

= Rs.500/=

Appraisal fee- 0.25 % of the loan amount.Service charge-Rs.25 per transaction

CSB Car Loan 1.00 % of the loan amount.Rs.250.00

>Rs. 10000 upto Rs.1Lakh

= Rs.100/=



(Rs.)Upto Rs 25000

10

>Rs 25,000/- to Rs 2 Lakhs

25

>Rs 2 Lakhs to Rs 3 Lakhs

75

>Rs 3 Lakhs to Rs 5 lakhs

125


175


250


500


750

>Rs 75 lakhs to Rs 1 Crore

1000

>Rs 1Crore 2000

(Rs.) Education Loan Presently Nil >Rs. 10000 upto

Rs.1Lakh = Rs.100/=



Upto Rs 25000 10>Rs 25,000/- to Rs 2 Lakhs

25

>Rs 2 Lakhs to Rs 3 Lakhs

75

>Rs 3 Lakhs to Rs 5 lakhs

125


175


250

>Rs 25 lakh to Rs 50 lakhs

500


750

>Rs 75 lakh to Rs 1 Crore

1000

> Rs 1 Crore 2000Gold Loan Presently Nil Presently Nil Stationery charge

Rs.10 + service tax

Prepayment Charges Applicable to all term loans @ 1% of the

balance outstanding/DP whichever is higher.

No due Certificate Presently Nil

- 9 -

Solvency Certificate Upto Rs.1.00 lakh Rs. 500.00Above Rs.1.00 lakh upto Rs.25.00 lakhs

Rs.2500.00

Above Rs.25.00 lakhs upto Rs.50.00 lakhs

Rs.5,000.00

Above Rs. 50.00 lakhs Rs.10,000.00Charges for late payment of EMI Penal interest @ 1%, for the overdue

amount, for the overdue period.Charges for changing from fixed to floating rates of interest

Existing Housing loans is allowed to convert to new floating rates applicable, by charging an upfront fee of 1% on the balance outstanding in the loan account.

Charges for changing from float to fixed rates of interest

Presently Nil

At present we are issuing only Debit Cards ATM Cards Membership fee N.AAnnual Fee N.A Renewal Charges N.ALate Payment Charges N.A Interest Charges N.AReplacement charges N.A Transaction Charge for Partner banks

N.A

Transaction Charge for Non-Partner banks

N.A

Credit Card N.A

Membership fee N.A Annual Fee N.A Renewal Charges N.A Late Payment Charges N.A Interest Charges N.AReplacement charges N.A Cash withdrawal N.A

- 10 - Debit Card N.AMembership fee Presently NilBalance Enquiry Free at our own ATMs and Rs.25

at shared ATMs Renewal Charges Not charged for the presentPenalty for no minimum balance Rs.25 for each cash withdrawal.Replacement charge Rs.100Duplicate Pins Rs.50Cash withdrawal Free at our own ATMs and Rs.50

at shared ATMsAnnual Fee Presently NilLate Payment Fee Presently Nil

MISCELLANEOUS Balance enquiry Presently NilBalance Certificate Presently NilInterest Certificate Presently NilAccount closure Presently NilUse of Fax/Telephone/Modem Presently NilPhoto attestation Presently NilSignature attestation Presently NilStop Payment Charges Rs.20.00 per chequeInoperative account SB a/c - Rs.50/- per account p.a

CD a/c - Rs.150/- per account p.a.

Ledger Folio Charges : CD Accounts :- Per ledger page Rs.125/-

p. aAdvance Accounts : - Per ledger page Rs.150/-

p. aService Charges for Advance accounts:-

Upto Rs.25000 Rs.10.00Above Rs 25000 to Rs 2 lakhs

Rs. 25.00

Above Rs 2 lakhs to Rs 3 lakhs

Rs. 75.00


Rs.125.00


Rs.175.00


Rs. 250.00


Rs. 500.00


Rs. 750.00

Above Rs 75 lakhs to Rs 1 crore

Rs1000.00

Above Rs 1 crore

Rs 1500.00

- 11 - Collection of Bills ( Both inward / outward ):Up to Rs 500/- Rs.25.00Rs 501/- to Rs 1000/- Rs.30.00Rs 1001/- to Rs 5000/- Rs.35.00Rs 5001/- to Rs 10000/- Rs.50.00Above Rs 10000/- Rs.6.00/ 1000 Actual postage should be collected

extra For Bills received from other banks

only 50% of the stipulated usual rate for collection of Bills shall be charged provided the bill amount exceeds Rs.10000/-

Charges for issue of MT (Rs.)Up to Rs 500/- Rs.10.00Rs 501/- to Rs 1000/- Rs.15.00Rs 1001/- to Rs 5000/- Rs.20.00Rs 5001/- to Rs 10000/- Rs.30.00Above Rs 10000/- upto 1.00 lakh

Rs. 2.50 / 1000 with mini. of Rs.30.00

Above Rs 1.00 lakh Rs.2.00/ 1000 with mini. of Rs.250/- & max. of Rs.5000/-

For sale of MT’s over Rs.10000/- against tender of cash 10% of theCommission extra.

CD account – Minimum Balance (Rs.):

Metro Urban Semi Urban RuralRs,5000 Rs,3000 Rs, 2000 Rs.500

Charges for non maintenance thereof:-Metro Urban Semi Urban RuralRs,200 Rs,200 Rs, 200 Rs.100

Issue of Duplicate Term Deposit Receipt

Rs.25.00 per receipt + Cost of stamp paper for indemnity bond.

(Amount in Rupees)Locker Rent:-

Metro Urban Rural/Semi Urban

Small 600 400 300

Medium 700 600 500

Large 1000 800 750

- 12 -

(Amount in Rupees)Locker Caution Deposit:-

Metro Urban Rural/Semi Urban

Small 9100 6100 4550

Medium 10300 9100 7600

Large 15200 12200 11400

Note: In addition to the above service tax at the rate of 12% & education cess at

the rate of 2% of the service tax will be applicable to all service charges stated above.

BANKING OMBUDSMAN SCHEME - 2006

A. INTRODUCTION:

1. What does the Banking Ombudsman Scheme, 2006 offer?The Banking Ombudsman Scheme, 2006 enables resolution of complaints of bank customers relating to certain services rendered by banks.

2. Has the Banking Ombudsman Scheme come into effect?The Scheme has come into force from January 1, 2006.

3. Who is a Banking Ombudsman?The Banking Ombudsman is person appointed by the Reserve Bank of India to redress customer complaints against certain deficiency in banking services.

4. Does the Banking Ombudsman have any legal power?The Banking Ombudsman is a quasi judicial authority. It has power to summon both the parties - bank and its customer, to facilitate resolution of complaint through mediation.

5. How many Banking Ombudsmen have been appointed and where are they located?

As on date, 15 Banking Ombudsmen have been appointed with their offices located mostly in the State Capitals. The addresses of the Banking Ombudsman offices have been provided in the RBI website.

6. Which banks are covered under the Banking Ombudsman Scheme, 2006?

All Scheduled Commercial Banks, Regional Rural Banks and Scheduled Primary Co-operative Banks are covered under the Scheme.

7. How is the new Banking Ombudsman Scheme, 2006 different from the Old Banking Ombudsman Scheme, 2002?

The extent and scope of the new Scheme is wider than the earlier Scheme of 2002. The new Scheme also provides for online submission of complaints. The new Scheme additionally provides for the institution of an 'appellate authority' for providing scope for appeal against an award passed by the Ombudsman both by the bank as well as the complainant.

B. TYPES OF COMPLAINTS BEFORE BANKING OMBUDSMAN

8. What sort of disputes can the Banking Ombudsman consider? The Banking Ombudsman can receive and consider any

complaint relating to the following deficiency in banking

services: non-payment or inordinate delay in the payment or

collection of cheques, drafts, bills, etc.; non-acceptance, without

sufficient cause, of small denomination notes tendered for any

purpose, and for charging of commission for this service; non-

acceptance, without sufficient cause, of coins tendered and for

charging of commission for this service; non-payment or delay

in payment of inward remittances ; failure to issue or delay in

issue, of drafts, pay orders or bankers’ cheques; non-adherence

to prescribed working hours; failure to honour guarantee or

letter of credit commitments ; failure to provide or delay in

providing a banking facility (other than loans and advances)

promised in writing by a bank or its direct selling agents;

delays, non-credit of proceeds to parties' accounts, non-payment

of deposit or non-observance of the Reserve Bank directives, if

any, applicable to rate of interest on deposits in any savings,

current or other account maintained with a bank ; delays in

receipt of export proceeds, handling of export bills, collection of

bills etc., for exporters provided the said complaints pertain to

the bank's operations in India; refusal to open deposit accounts

without any valid reason for refusal; levying of charges without

adequate prior notice to the customer; non-adherence by the

bank or its subsidiaries to the instructions of Reserve Bank on

ATM/debit card operations or credit card operations; non-

disbursement or delay in disbursement of pension to the extent

the grievance can be attributed to the action on the part of the

bank concerned, (but not with regard to its employees); refusal

to accept or delay in accepting payment towards taxes, as

required by Reserve Bank/Government; refusal to issue or delay

in issuing, or failure to service or delay in servicing or

redemption of Government securities; forced closure of deposit

accounts without due notice or without sufficient reason; refusal

to close or delay in closing the accounts; non-adherence to the

fair practices code as adopted by the bank; and any other matter

relating to the violation of the directives issued by the Reserve

Bank in relation to banking or other services.

9. Will the Banking Ombudsman consider complaints of Non-Resident Indians?

Yes, the Banking Ombudsman will consider complaints from

Non-Resident Indians having accounts in India in relation to

their remittances from abroad, deposits and other bank-related

matters.

C. APPLYING TO BANKING OMBUDSMAN

10. When can the complainant file his complaint?He can file his complaint before the Banking Ombudsman if the

reply is not received from the bank within a period of one

month, after the bank concerned has received his representation,

or the bank rejects the complaint, or the complainant is not

satisfied with the reply given to him by the bank.

11. Does the complainant have to fulfill any conditions before complaining to the Banking Ombudsman?

For filing a complaint before the Banking Ombudsman, it is

essential for a complainant to first attempt to find a satisfactory

solution directly with his bank by making a written

representation to the bank named in the complaint. The

complaint should, however, be made before expiry of period of

one year after the cause of action has arisen.

12. Can a complaint be made before a Banking Ombudsman on the same subject matter settled through pervious proceedings before any of the Banking Ombudsmen?

No. The complaint should not be for the same subject matter

that was settled through the office of the Banking Ombudsman

in any previous proceedings.

13. Can a complaint be made before a Banking Ombudsman on the same subject matter for which any proceedings before any court, tribunal or arbitrator or any other forum is pending or a decree or award or a final order, has already been passed by any such competent court, tribunal, arbitrator or forum?

No.

14. Is there any procedure for filing the complaint before the Banking Ombudsman? A complainant can file a complaint with the Banking Ombudsman simply by writing on a plain paper. He can also file it online at www.bankingombudsman.rbi.org.in or by sending an email to the Banking Ombudsman. There is also a prescribed form for filing a complaint, which is available with all the branches of the banks. However, it is not necessary to use this format. The complainant should, however, incorporate all the required information.

15. Can a complaint be filed by an authorized representative of the complainant?

http://www.rbi.org.in/Scripts/bs_viewcontent.aspx?Id=159

Yes. The complainant can be filed by an authorized

representative (other than an advocate) of the complainant.

16. Is there any cost involved in filing complaints with Banking Ombudsman?

No. The Banking Ombudsman does not charge any fee for

resolving customers’ complaints.

17. What details are required in the application?The complaint should have the name and address of the

complainant, the name and address of the branch or office of the

bank against which the complaint is made, facts giving rise to

the complaint supported by documents, if any, the nature and

extent of the loss caused to the complainant, the relief sought

from the Banking Ombudsman and a declaration about the

compliance of conditions which are required to be complied

with by the complainant.

D. PROCEEDINGS BEFORE THE BANKING OMBUDSMAN

18. What happens when a complaint is received by the Banking Ombudsman?

The Banking Ombudsman endeavours to promote, through

conciliation or mediation, a settlement of the complaint by

agreement between the complaint and the bank named in the

complaint.

19. What happens if the bank makes an offer to settle?If the terms of settlement (offered by the bank) are acceptable to

the complainant in full and final settlement of his complaint, the

Banking Ombudsman will pass an order as per the terms of

settlement which becomes binding on the bank and the

complainant.

20. What happens if the complaint is not settled by agreement?

If a complaint is not settled by an agreement within a period of

one month, the Banking Ombudsman proceeds further to pass

an award. Before passing an award, the Banking Ombudsman

provides reasonable opportunity to the complainant and the

bank, to present their case.

21. What will the Banking Ombudsman consider for passing an award?

For passing an award, the Banking Ombudsman is guided by the

documentary evidence placed before him by the parties, the

principles of banking law and practice, directions, instructions

and guidelines issued by the Reserve Bank of India and such

other factors, which in his opinion are necessary in the interest

of justice.

E. AWARD GIVEN BY BANKING OMBUDSMAN

22. What happens when the Banking Ombudsman passes an award?

After an award is passed, its copy is sent to the complainant and

the bank named in the complaint. It is open to the complainant

to accept the award in full and final settlement of his complaint

or to reject it.

23. What is to be done by the complainant if the award is acceptable to him?

If the award is acceptable to the complainant, he is required to

send to the bank concerned, a letter of acceptance of the award

in full and final settlement of his complaint, within a period of

15 days from the date of receipt of the copy of the award by

him.

24. Can a complainant seek extension of time for sending his letter of acceptance of the award?

Yes, a complainant can make a written request to the Banking

Ombudsman, for extension of time with the reasons for seeking

such extension.

25. What does Banking Ombudsman do on receipt of request from a complainant for seeking extension of time for sending his letter of acceptance of the award?

If the Banking Ombudsman is satisfied with the reasons stated

by the complainant in his letter of request for extension of time

(for sending his letter of acceptance of the award), he may grant

extension of time up to further period of 15 days for such

compliance.

26. What happens if the complainant sends a letter of acceptance of the award in full and final settlement of his claim?

If the bank is satisfied with the award, within a period of one

month (from the date of receipt of letter of acceptance from the

complainant of the award in full and final settlement of his

claim in the matter), the bank is required to comply with the

award and intimate the compliance to the Banking Ombudsman.

27. Is there any further recourse available to the complainant, if he rejects the Banking Ombudsman’s award?

If the complainant is not satisfied with the award passed by the

Banking Ombudsman, he can approach the appellate authority

against the Banking Ombudsmen’s decision.

28. Does the rejection of an award by the complainant also bar any recourse and remedy available to him in respect of his grievances, before court, forum or any other authority as per law in force?

The rejection of an award by the complainant does not affect

any other recourse and/or remedies available to him as per the

law.

29. What if the Award is not acceptable to the bank?The bank has the option to file an appeal before the appellate

authority under the scheme.

F. APPEAL AGAINST THE AWARD

30. Who is the appellate authority?The appellate authority is the Deputy Governor in the Reserve

Bank of India.

31. Is there any time limit for filing an appeal?Either party aggrieved by the award may, within 30 days of the

date of receipt of the award, appeal against the award before the

appellate authority. The appellate authority may, if he is

satisfied that the applicant had sufficient cause for not making

an application for appeal within time, also allow a further period

not exceeding 30 days.

The banks can appeal only with the prior sanction of their

Chairman or, in his absence, the Managing Director or the

Executive Director or the Chief Executive Officer or any other

officer of equal rank.

32. How does the appellate authority deal with the appeal?The appellate authority may

i. dismiss the appeal; orii. allow the appeal and set aside the award; oriii. send the matter to the Banking Ombudsman for fresh

disposal in accordance with such directions as the appellate authority may consider necessary or proper; or

iv. modify the award and pass such directions as may be necessary to give effect to the modified award; or

v. pass any other order as it may deem fit.

G. OTHERS

33. Is it open to the Banking Ombudsman to reject a complaint at any stage?

Yes. The Banking Ombudsman may reject a complaint at any stage if it

appears to him that a complaint made to him is:

i. frivolous, vexatious, malafide or without any sufficient cause or

ii. that it is not pursued by the complainant with reasonable diligence or

iii. in the opinion of Banking Ombudsman there is no loss or damage or inconvenience caused to the complainant or

iv. beyond the pecuniary jurisdiction of Banking Ombudsman orv. in the opinion of the Banking Ombudsman the complicated

nature of the complaint requires consideration of elaborate documentary and oral evidence and the proceedings before him are not appropriate for adjudication of such complaint.

34. By which scheme the pending complaints filed (before coming into operation of the New Scheme of 2006) would be governed?

The adjudication of pending complaints and execution of the awards

(already passed before coming into operation of the Banking

Ombudsman Scheme 2006), will continue to be governed by the

provisions of the earlier Banking Ombudsman Schemes, 1995 and 2002.

35. What is the role of the Reserve Bank in relation to the scheme?The Banking Ombudsman Scheme has been formulated by the Reserve

Bank of India to provide an expeditious grievance redressal mechanism

to customers of banks. It provides for an institutional and legal

framework for resolution of complaints relating to banking services and

other matters as specified under the Scheme. The Scheme has been

brought into force by way of direction issued by the Reserve Bank in

terms of Section 35A of the Banking Regulation Act, 1949. The

Reserve Bank will also appoint its serving senior officials as the

Banking Ombudsman and will also fully fund it for better effectiveness.

36. When was the Banking Ombudsman Scheme introduced?The Banking Ombudsman Scheme was first introduced in 1995 and was

revised in 2002. Over the past five years, around 36,000 complaints

have been dealt by the Banking Ombudsmen

FEDERAL-CATHOLIC SYRIAN BANK MERGER IN FINAL LAP

The merger of the two Kerala-based private sector banks, Federal Bank and Catholic Syrian Bank (CSB), has now entered the final lap.

Although the CSB’s board did not take any decision on the merger at a meeting held On Monday, sources at the bank said that the merger is likely to take shape after the Parliamentary polls are over.

“The board meeting did not discuss the item, but a vast majority of the members are in favour of this (the merger),” said a source.

He added that the decks were cleared for a merger after the protests of the Thrissur Archdiocese of the Catholic Church had been assuaged to a very large extent.

The church had been opposing the move, saying that the regional identity of the bank would be lost due to the proposed merger.

In particular, the Archbishop of the Thrissur Archdiocese Mar Andrews Thazhath had vehemently opposed the merger. All the political parties had also supported the church’s views as it has a big hold among the electorates of the central districts of Kerala.

“But both the entities’ opposition weakened after it was pointed out that the Federal Bank is also a Kerala-based bank,” said an official.

Earlier, the Catholic Church even mooted a proposal to purchase the shares owned by Surachan Chansri Chawla, a Bangkok-based Indian businessman who holds a 23 per cent stake in CSB, in order to have more say in the bank.

But the church was not in a position to raise the huge amounts of money required to purchase the shares. So, according to sources, it is now almost certain that the merger of the two banks will become a reality in the near future. “You will have to wait till after the polls to get a clear picture as the

new ruling front at the Center will have to give its consent for the merger to be a smooth process,” said a source.

Meanwhile, it has been reliably learnt that the Federal Bank has decided to proceed with the merger as this would be beneficial for the growth of the bank.

The bank had earlier taken over Ganesh Bank of Kurundwad and is now considered to be one of the top old-generation private sector banks of the country.

CATHOLIC SYRIAN BANK GETS 3 NEW BOARD MEMBERS, MOVES CLOSER TO MERGER WITH FEDERAL BANK

A CSB board member informed that the new board was unanimously in favour of a merger with Federal Bank

Kochi: Three new members were elected to the board of Kerala-base Catholic Syrian Bank (CSB) on Friday at the bank’s annual general body meeting. The new additions gain significance in light of almost year-long attempts to merge CSB with Kerala-based Federal Bank.

K.A. Menon, George Sebastian and George Chemmanur, whose terms ended Friday, have been replaced by Iype Peter, Samir Bhasin and T.S. Anantharaman.

Iype Peter, a former Federal Bank employee who was elected to the CSB board last year had quit in January, paving the way for S. Santhanakrishnan, who quit the Federal Bank board, to join the CSB board and hasten the merger process. Federal Bank currently holds a 4.99% stake in CSB.

A CSB board member said on condition of anonymity that the new board was unanimously in favour of a merger with Federal Bank. However, the proposal would have to officially come from the Federal Bank. “With the new board at CSB now all in favour of a merger, Federal may now consider hastening things,” he added.

CSB has also formed a three-member board committee to conduct due diligence and that the process was ongoing, he added. M. Venugopalan, managing director of Federal Bank, had earlier said that his bank was open to having a say in the affairs of CSB keeping in mind the possible `cultural synergy’ of two Kerala-based banks

Federal Bank buys 5 pct in Catholic Syrian Bank

MUMBAI (Reuters) - India's Federal Bank has bought 5 percent shares of unlisted Catholic Syrian Bank (CSB) and is in the process of winning the support of CSB shareholders for a full-fledged takeover, a newspaper reported on Sunday.

Federal Bank is said to have acquired shares of the bank, based in southern India, at 250-300 rupees ($5.93) a share, the Economic Times said.

The Federal Bank management has entered into an understanding with the Chawla family, the single largest shareholder group in CSB, and may buy it out at a later stage, the newspaper said quoting an unnamed senior bank official.

Federal Bank has been looking for an acquisition and was recently in talks with another private bank, the report said.

The paper quoted a CSB spokesperson as saying that nobody had approached the bank about a share transfer.

Shares in Federal Bank closed down 1.9 percent at 200.50 rupees

Catholic Syrian Bank Limited

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Transcript of Catholic Syrian Bank Limited