cif circular

e-Circular PBU-MARKETING AND CROSS SELLING. Sl. No. : 171/2009 - 10 Circular No. : NBG/PBU/MCS-MCS/1/2009 - 10 Tuesday,June 23,2009. .

MASTER CIRCULAR

MARKETING - CROSS SELLING

STATE BANK OF INDIA MARKETING - CROSS SELLING DEPARTMENT

CORPORATE CENTRE MUMBAI

2 Master Circular No. MCS/03/09-10/01 dated 16.05.2009 All the Branches/LHOs Madam/Sir,

MASTER CIRCULAR MARKETING - CROSS SELLING

We have, periodically, issued instructions to Branches/LHOs and other establishments with regard to instructions on the captioned subject. To enable to have current instructions at one place, a Master Circular incorporating all the existing guidelines/instructions/directives have been prepared and is appended. We advise that this Master Circular consolidates all the previous instructions issued by us from time to time, which are listed in the Appendix. Yours faithfully, Sd/- General Manager

3

INDEX S. No. Sub-

reference No.

Description Page No.

1 Introduction 5 2 Structure of Marketing- Cross Selling Department 7 1 at Corporate Centre 7 2 at Local Head Office 7 3 Life Insurance 8 1 Corporate Agent :Tie-up with SBI Life Insurance

Co. 8

2 Identification ,Training (including on-line Training) and Certification as Certified Insurance Facilitator (CIF)

8

3 Scheme for Payment of Honorarium 12 4 Delisting of CIFs 12 5 Movement of CIFs 13 6 Cross Selling by Employees under Suspension 13 7 Types of life insurance products of SBI Life

Insurance Co., marketed by Branches 13

8.a Advertisement and Publicity of life insurance products

13

8.b Local Printing of Pamphlets/Advertisements 14 9 Remittance of Premium at Par to SBI Life

Insurance Co. 14

10 Remittance of Premium through EFT Facility for Remittance of First Premium under Group Swadhan and Renewal Premium of Individual Products

15

11 Anti Money Laundering & KYC Guidelines 26 4 Mutual Funds 52 1 Selection, Training and Certification as AMFI

Certified Employee 52

2 Procedure for obtaining Registration 53 3 Scheme for Reimbursement of Examination fees

and Payment of Honorarium 62

4 Code of Conduct for AMFI Certified Employees 63 5 Tie-up with SBI MF 66 6 Tie-up with UTI MF 67 7 Tie-up with Tata MF 77

4 8 Tie-up with Franklin Templeton MF 83 9 Tie-up with Fidelity MF 89 10 Anti Money Laundering & KYC guidelines 95 5 General Insurance 162 1 Tie-up with New India Assurance Co. 164 2 Scale of commission 165 3 Training and Certification as Specified Person 172 4 Scheme for Reimbursement of Examination fees

and Payment of Honorarium 173

6 Credit Cards 174 1 Helpline 174 7 Miscellaneous 175 1 Accounting System for booking of

fee/commission/brokerage with BGL and CGL Nos.

175

2 Insurance Regulatory and Development Authority (Protection of Policyholders’ Interests) Regulations, 2002.

176

3 Role Sheet of Chief Managers / Asst. General Managers (Cross Selling) in the Circles

184

4 Code of Conduct for Certified Insurance Facilitators (CIFs) and Specified Persons (SPs)

188

5 Sharing of Customer Information 192

5

Chapter 1 Introduction

Marketing - Cross Selling Department was created in January 2003 to boost non interest income of the branches in National Banking Group by cross selling:

1. Life insurance products of SBI Life Insurance Co., select mutual fund products of SBI Mutual Fund and short listed third party mutual funds, select general insurance products of New India Assurance Co. Ltd. and Credit Card products of SBI Card In April 2008, cross selling was formally extended to cover units in Corporate Accounts Group and Mid-Corporate Group, vide Corporate Centre letter no MCS/08-09/04 dated 17th April 2008, as follows: With the objective of further growing the cross selling business and fee based income at our branches we are to leverage the banks connections with the various CAG/MCG/large SME units to establish/increase cross sell of our retail PB products as well as para-banking products like life insurance, general insurance, mutual fund and credit card products to constituents of these units, viz., owners / promoters, directors, employees, related vendors and dealers. This would also make the bank/branch a one stop source of financial services/investment products, thereby contributing to the all-important matter of customer loyalty/stickiness. 2………………………………. 3……………………………….. 4. We shall be glad if the Branch Manager of the nearest Retail Branch and a CIF/ACE calls upon the owners/promoters/Finance Head of the Unit, along with or through the assistance of the Relationship Manager of the CAG branch/office, to explore the opportunities and pursue booking retail banking and para banking business of the Units. Assistance, support of appropriate SBI Mutual Fund, SBI Life and SBI Card personnel should invariably be sought while making presentations for mutual fund, life and cards business. It shall be the responsibility of the PB Business Head and Relationship Manager (CAG) as also the Chief Manager (Cross Selling) who should closely follow up for booking of the business. In cases where retail/para banking business is already garnered, we would like to be advised of specific details as noted below with particulars of business remaining to be tapped or receiving attention, vis-à-vis the potential.

Formatted: Bullets and Numbering

65. Please monitor the progress made, on the following lines, also keeping us advised: Name of the Unit Person(s) contacted with Designation and Phone no. Total no. of employees in the unit No. of A/Cs opened No. of life insurance proposals sourced and premium garnered No. of Mutual fund applications sourced and amount garnered Alongwith the focus for the usual general insurance cover for the assets owned and financed through our tie-up partner, New India Assurance Co., other insurance proposals (keyman , fire , motor, accident , mediclaim , fidelity guarantee , cash in transit etc.) sourced and premium garnered No of SBI Credit Card applications sourced No. of Housing Loan Proposals sourced and sanctioned No. of Vehicle Loan Proposals sourced and sanctioned No. of Personal Loan Proposals sourced and sanctioned Particulars of business with our competitors

7

Chapter 2

Structure of Marketing - Cross Selling Department at Corporate Centre

Dy. Managing Director & Group Executive (National Banking)

Structure of Marketing - Cross Selling Department at Local Head Office

Chief General Manager

Asst. General Manager/Chief Manager (Marketing Cross

Selling)

Asst. General Manager/ Chief Manager (Marketing Cross

Selling)

General Manager (Marketing Cross Selling)

Dy. General Manager (Marketing Cross Selling)

Asst. General Manager/Chief Manager (Marketing Cross Selling)

Asst. General Manager/Chief Manager (Marketing Cross Selling)

General Manager (Network I)

General Manager (Network II)

8

Chapter 3

1. Corporate Agent ---Tie-up with SBI Life Insurance Co. In terms of Insurance Regulatory and Development Authority

(Licensing of Corporate Agents) regulations 2002 State Bank of India is

authorised to act as a Corporate Agent of SBI Life Insurance Co. for

procuring or soliciting life insurance business, for a period of three

years from 19/02/2006, in terms of Insurance Regulatory and

Development Authority’s License No. 1046513. The license has been

issued under the Insurance Act 1938 (IV of 1938).

2. Identification, Training (including on-line Training) and Certification as Certified Insurance Facilitator (CIF)

a) Identification ( Reference: P & HRD letter no. CDO/PM/16/SPL/1403 dated

10th December 2002 to all Circles)

The procedure for identifying the staff, willing to undergo training and

certification for selling life insurance products of SBI Life Insurance Co. is as

under:

o Options will be called for, from those

employees who are :

below 50 years of age

having the minimum

qualification of a pass in 12th Standard or equivalent examination

conducted by any recognised Board/Institution, where the

applicant resides in a place with a population of five thousand or

more as per the last census, and a pass in 10th Standard or equivalent

examination from a recognised Board/ Institution if the applicant

resides in any other place.

interested in marketing of life

insurance products of SBI Life

Insurance Co..

9While asking for option it should be made clear to the

employees that though the identified staff will primarily be

responsible for insurance selling activity, their services may, at

times , be utilised by the Bank for any other function at the Branch.

Further, they should be willing to work beyond office hours, if

necessary, and visit prospective life insurance buyers, whenever

required.

o The employees who opt for marketing

of life insurance products of SBI Life

Insurance Co., will be interviewed by a

Committee consisting of the Asst.

General Manager of the concerned

Region (Chairman of the Committee),

a representative of SBI Life Insurance

Co. and AGM/Chief Manager (Cross

Selling) of the Network.

o The employee found well mannered,

of pleasing dispensation and

possessing aptitude for marketing

products, interfacing with clients and

developing new business and having a

high degree of service orientation will

be identified by the Committee for the

IRDA prescribed training.

B) Training: An employee shall have completed, at least, fifty hours’ practical training conducted by SBI Life Insurance Co. Where the employee is--- (ii) an Associate/Fellow of the Insurance Institute of India, Mumbai; (iii) an Associate/Fellow of the Institute of Chartered Accountants of

India, New Delhi; (iv) an Associate/Fellow of the Institute of Costs and Works Accountants

of India, Calcutta; (v) an Associate/Fellow of the Institute of Company Secretaries of India,

New Delhi;

10(vi) an Associate/Fellow of the Actuarial Society of India,

Mumbai; (vii) a Master of Business Administration of any Institution/ University

recognised by any State Government or the Central Government; or (viii) possessing Certified Associateship of Indian Institute of Bankers

(CAIIB); or (ix) possessing any professional qualification in marketing from any

Institution/ University recognised by any State Government or the Central Government--

He/She shall have completed, at least, twenty five hours’ practical training from an approved institution. Online Training (vide Circular No. PBBU/MCS/05-06/3 dated 24.11.2005) (a) Any Officer or Assistant, who wishes to enlist for the on-line training, may

approach SBI Life Insurance Co. for sponsorship. For this purpose the

online training application form to be provided by SBI Life Insurance Co.

may be completed by the candidate and his reporting authority and

forwarded to Co-ordinator of SBI Life Insurance Co. stationed at the Local

Head Office Centre alongwith the requisite fee.

(b) The employees sponsored by SBI Life Insurance Co., can enlist for the on

line training at any one of the following IRDA accredited On-Line training

Institutions which host the portals:

(c) RNIS College of Insurance, Delhi (Rate Rs. 400/600 per candidate who is

CAIIB/non-CAIIB respectively, currently)

(d) Maharashtra Institute of Technology, Pune (Rate 400/650 per candidate

who is CAIIB/non-CAIIB respectively, currently)

Any other institute approved by IRDA to conduct on line training

will be added to the list by SBI Life Insurance Co. and the updated

list will be available with the local Coordinator of SBI Life Insurance

Co.

(e) The sponsored staff will be expected to complete the online 50/25 hours

mandatory IRDA training at the centre of their posting.

11(f) The sponsored staff will undergo training during his/her 'Free

Time' i.e. outside office hours.

(g) Sponsored candidates will be given a password to access the specific

portal of these on-line training institutes who will cover the syllabus

prescribed by IRDA.

(h) The staff volunteering for training will not use the Branch Infrastructure

and would complete their On-Line Training at the nearest Cyber Café or at

their own residences on their personal PCs.

(i) The examining body is the Insurance Institute of India (III).

(j) The on-line examination centres of III are available on the website of

Insurance Institute of India---www.insuranceinstituteofindia.com

(k) For candidates who are not CAIIB, training duration will be for 50 hours’

training with a maximum of 8 hours per day. The maximum time

permissible for completion of training is 14 days. For candidates who are

CAIIB, the training duration is 25 hours to be completed in 8 days.

j) The cost of on-line training and examination shall be initially borne by

the staff member. On successful completion of the course and

obtention of the CIF certification by the staff member, the entire cost

shall be reimbursed to him/her, by SBI Life, in a lump sum amount of

Rs. 5000/= (which includes internet charges, training fees and

examination fees) on production of simple declaration for having

incurred the expenses, a copy of the training certificate and CIF

licence. For claiming the reimbursement the CIF should approach the

nearest representative of SBI Life Insurance Co. Ltd., who will in turn

send the same to SBI Life Head Office for reimbursement.

k. No other allowances shall be payable to the staff for visiting the On

Line training institutes or proceeding for appearing in the

test/interviews etc.

l. On acquiring the license, the CIFs may commence marketing for

proposals during their 'Free Time' and need not be released full time.

m. Commission will accrue to the branches, as is being done presently.

12Offline Exam Fees: DD of Rs.500/- in favour of Insurance Institute of

India payable at Mumbai

Online Exam Fees: DD of Rs.400/- in favour of NSE.IT Limited payable at

Mumbai (if a candidate appears at NSE.IT centers in India as per the list

enclosed)

Online Exam Fees: DD of Rs.400/- in favour of Insurance Institute of India

payable at Mumbai / Bangalore (if a candidate appears at Insurance Institute

of India centers at Mumbai & Bangalore)

13Online Examination centres:

Ahmedabad Jaipur Allahabad Jalandhar Bangalore Kanpur Bhopal Kolkata Bhubaneshwar-Cuttack Madurai Chandigarh Meerut Chennai Mumbai Cochin Nagpur Coimbatore Noida Dehradun Pune Delhi Rajkot Hyderabad Surat Indore Thiruvananthapuram

C. Examination: After completion of off-line/ on-line training, the employee

is required to pass the pre-recruitment examination in life insurance business,

conducted by the Insurance Institute of India, Mumbai, or any other

examination body duly recognised by the Insurance Regulatory and

Development Authority.

D. Certification: The examining body shall issue a certificate to every

successful employee, which shall enable him to procure insurance business on

behalf of the Bank.

3. Scheme for Payment of Honorarium (Vide e-circular no. P&HRD.Sl. No. : 267/2007 – 08 Circular No. :

CDO/P&HRD-LANDD/23/2007- 08 dated August 11, 2007)

The honorarium payable on obtaining certification as Corporate Insurance

Executive is Rs.5000/- (Rupees five thousand only).

4. Delisting of CIFs (CC letter no. MCS/07-08/43 dated 7th August 2007)

A review of the productivity of CIFs should be undertaken and any CIF who

has not sold at least five policies during the year may be delisted, so that they

do not remain in the list of branch CIFs. Such a review will enable the Circle

management to focus better on the performance of the productive CIFs and to

initiate training of more willing employees for Certification.

145. Movement of CIFs (IR Deptt. letter nos. CDO/IR/SPL/133 dated

25th September 2004 and CDO/IR/SPL/261 dated 10th September 2004)

With a view to providing uninterrupted service to customers who have

availed of life insurance products of SBI Life Insurance Co. from

identified/authorised branches, the Senior/ Special Assistants appointed as

Certified Insurance Facilitators (CIFs), when due for transfer under 5 year

transfer policy, be transferred only to branches/offices at the same centre

which have been identified for selling products of SBI Life Insurance Co. They

will be replaced by CIFs only.

In case, there is no identified /authorised branch/office available at the same

centre, they may be retained at the same branch and used for marketing of

products of SBI Life Insurance Co. The total stay however will not exceed 3

years from the date the employee gets accredited as CIF. The position in such

cases will be reviewed by controllers every year.

6. Cross Selling by Employees under Suspension

Employees under suspension are not to be entrusted any official duties. ( CC

letter no. PBBU/MCS/06-07/45 dated 21st/25th July 2006)

7. Types of life insurance products of SBI Life Insurance Co., marketed by branches …………………………………………………………………………………………. 8.(a)Advertisement and Publicity of life insurance products [vide Insurance Regulatory and Development Authority (Insurance Advertisements and Disclosure) Regulations, 2000 dated 14th July 2000] Advertisements by insurance agents —

(1) Every advertisement by an insurance agent that affects an insurer must be

approved by the insurer in writing prior to its issue;

(2) It shall be the responsibility of the insurer while granting such approval to

ensure that all advertisements that pertain to the company or its products or

performance comply with these regulations and are not deceptive or

misleading.

15Explanation: An agent shall not be required to obtain written approval

of the company prior to issue for: —

(i) those advertisements developed by the insurer and provided to the

agents; generic advertisements limited to information like the agent's name,

logo, address, and phone number; and

ii) advertisements that consist only of simple and correct statements

describing the availability of lines of insurance, references to experience,

service and qualifications of agents; but making no reference to specific

policies, benefits, costs or insurers.

8(b) Local Printing of Pamphlets/Advertisements (CC letter nos. MCS/07-08/140 dated 18.07.2007 and PBBU/MCS/06-07/195 dated 06.12.2006) Insurance advertisements fall under the purview of IRDA Insurance

Advertisements and Disclosure Regulations, 2000 dated 14th July 2000.

Circulation of written or published information relating to returns, capital

protection and comparison of returns in various schemes of rival insurance

companies, implicit or explicit, is prohibited by the Insurance Regulatory and

Development Authority. Hence a draft of the advertisement/pamphlet should

be forwarded to Corporate Centre, in advance, before placing the print order to

ensure adherence to the notified mandatory guidelines. Branches/ CIFs should

not prepare and circulate any sales communication without obtaining a

confirmation from Corporate Centre.

9. Remittance of Premium at Par to SBI Life Insurance Co. (vide CC letter no. MCS/03-04/25 dated 04.06.2003)

SBI Life has launched its Group Product, Super Suraksha for Account holders,

in May 2002, and select Branches have been enrolling account holders under

the Group Insurance Scheme. Subsequently, our Branches have also started

offering Creditor Protection Products like Home Loan Insurance and Car

Loan Insurance of SBI Life. Further, with the launch of Bancassurance,

identified branches have commenced selling individual products of SBI Life

16like Sudarshan and Lifelong Pension through selected employees who

have undergone insurance training and passed the mandatory test.

2. In all these cases, branches are required to remit the premium collected

from the customer by way of a draft to SBI Life Insurance Co. Ltd. at Mumbai.

SBI Life has proposed that such drafts should be issued without deduction of

exchange.

(b) Remittance of Premium through EFT Facility for Remittance of First

Premium and Renewal Premium ( vide Circulars No.MCS/Cir/08-09/04 dated 8th August 2008 and MCS/08-09/05 dated 10th October 2008 ) To reduce turn around time (TAT) for issuing certificates of insurance and

make available to customer another convenient option of paying premium of

SBI Life, where receipt of payment is issued simultaneously, SBI Life

Insurance Co. has introduced the option of paying the first premium of Group

Swadhan and for payment of SBI Life’s renewal premiums of individual

policies (excluding Lifelong Pension and Top-up amount of ULIPs) for the

Bancassurance channel through Electronic Fund Transfer (EFT) mode of Core

Banking platform.

2. The new facility requires the customer to fill up a specially designed pay-in

slip (challan) along with a cheque for payment from the customer’s account

(copy enclosed). The pay-in-slip (challan) is designed to provide three copies.

After the transaction is put through, the first copy of the challan is handed

over to the customer as receipt. The second copy is retained as the voucher of

the branch and the third is attached to the proposal form for onward

submission to SBI Life Insurance Co.

17 OPERATIONAL PROCEDURE for COLLECTION OF RENEWAL PREMIUM OF SBI LIFE POLICIES by SBI BRANCHES BACKGROUND SBI Life offers its valued customers yet another mode for renewal premium payments utilizing the vast network of SBI Core Banking System. This is another step in improving the Customer Service. This facility has been exclusively developed by SBI Life in close cooperation and active involvement of SBI Global IT. Customers of SBI Life can use this facility at any SBI CBS branch, making the reach for SBI Life customers far & wide. This process circular intends to give a detailed, step by step guide, for better understanding of the process of COLLECTION OF RENEWAL PREMIUM OF SBI LIFE POLICIES by SBI BRANCHES PARAMETERS

Through the EFT module integrated in the core-banking module of SBI, the policyholder of SBI Life will be able to pay his renewal premiums by 4 different modes – viz.

Cash Direct Debit through voucher [available only if holding SBI A/c] Direct Debit through SBI Cheque [available only if holding SBI A/c] By other Banks’ Local Cheque

(System provision is available for other bank local cheques also. However we will roll out this service at a later stage)

Currently, this facility will be available for Inforce policies and only up to 11 days (in case of monthly mode) & 25 days (for Quarterly/half yearly/yearly mode) from the premium due date; after which the premiums will have to be remitted to SBI Life Office directly.

PROCESS Policyholder comes to SBI branch for payment of Renewal Premium under his SBI Life policy. The process flow will be as follows: A 3-part challan MUST be filled by the policyholder, giving the details such as –

Name of policyholder Type of payment – [Group Swadhan First Premium (FP) / Individual Renewal Premium(RP) / Individual First Premium (FP)] In case of Individual RP, the policy no. must be written on the challan Mode of payment to be selected – [cash / Direct Debit through voucher / Direct Debit through SBI Cheque]




18In case of Direct Debit through voucher, the bank a/c no. to which the amount is to be debited, must be mentioned on the challan In case of Direct Debit through SBI Cheque, the cheque details such as Cheque no., date, amount & drawn on branch to be mentioned

Acceptance of payment by the SBI Staff – The payment vide any of the above mentioned 3 modes, along with the duly filled challan should be submitted at the SBI counter

Data Entry in the Bank module – Separate options have been provided in SBI’s Core Banking module for acceptance of SBI Life’s Premiums. The sequence is given below –

Bank Staff have to log in through “bancslink” (Session to be opened with clearing Screen) “Welcome to B@NCS-24” screen will appear (please see below). Operator details such as User No., Password, Branch No. & Terminal no. as required need to be entered by the bank staff.


19Once “Transmit” key is pressed, “Your Sign-on Details” screen will appear as shown below.

On the Right side of the screen, there is a window listing various options - one of the MAIN OPTIONS is “SBI Life Premium Collection”. On clicking this MAIN OPTION, various sub options will appear, as per the following hierarchy – “ + SBI Life Premium Collection” –

+ First Premium + Group Swadhan

+ Direct Debit ( SBI Cheque ) + Direct Debit (Voucher)

+ Individual [Currently not available] + By Cash + By Cheque - Other Bank + Direct Debit (SBI Cheque) + Direct Debit (Voucher)

+ Renewal Premium

+ Individual + By Cash

+ By Cheque - Other Bank + Direct Debit (SBI Cheque) + Direct Debit (Voucher)

In all there are 10 final options for SBI Life premium collection, out of which, 6 are currently available (2 for Group Swadhan – First Premium & 4 for Individual – Renewal Premium). One has to select the proper option for accepting a particular type of premium payment. These are as under:

20 SCREEN DETAILS Every screen has two parts; Upper portion gives INSURANCE DETAILS and the lower portion is for giving BANKING DETAILS (payment details) The details under different screens of INDIVIDUAL RENEWAL PREMIUM are given below – Renewal Premium --> INDIVIDUAL –> Payment by Cash

Renewal Premium --> INDIVIDUAL –> Payment by Cheque – Other Bank (to be rolled out at a later stage)

21Renewal Premium --> INDIVIDUAL –> Payment by Direct Debit [SBI Cheque]

Renewal Premium --> INDIVIDUAL –> Payment by Direct Debit [Voucher]

22The upper portion of the screen, which gives Insurance Details, remains that same for all options Insurance Details: Enter the Policy Number Press GET button All the relevant fields pertaining to that policy will be displayed in the upper portion of the screen Banking Details: (Enter Cheque Details - after confirming the account particulars including requisite balance)

i. In case of Cash Payment enter the amount received in the given field ii. In case of payment by other Banks’ Local cheque

a. Enter cheque particulars such as cheque number, bank and branch name

iii. Enter Instrument date a. Select proper Instrument Type from the Drop down b. Enter Clearing date & select clearing type from drop down

iv. In case of Direct debit through voucher, enter SBI a/c no. of the customer (after confirming the a/c particulars including requisite balance) v. In case of payment by SBI cheque – vi. Enter cheque* particulars such as cheque number and branch name

(after confirming a/c particulars including requisite balance). vii. Select the Instrument Date by pressing the Calendar button and

opting for the given date viii. Select proper Instrument Type from the Drop down ix. Transaction may require authorization

x. If everything is O.K., press Transmit xi. Message “Processing” will appear at the bottom of the screen xii. On successful completion, “O K” message will be displayed. xiii. If not successful, proper error message will appear at the bottom of the screen.

*Please note that the cheque must pertain to an a/c of any SBI CBS branch



23 EXCEPTION HANDLING / ERROR MESSAGE HANDLING

i. The system displays appropriate message at the bottom of the screen in case of any invalid transaction /error.

ii. The error could be in Insurance details or banking details.

iii. The various types of error messages that would be displayed on the screen, reasons for the same and the remedial action to be taken are given in the table below. Sl.

No. Error Message

Displayed Type of

Payment (When)

Reason (Why)

Remarks (Remedial Action)

1 Please check your Policy Number

Individual – Renewal Premium

Policy Number does not exist

Either the policy no. is wrongly written or wrongly entered

2 No premium due is pending against your policy, for further enquiry contact SBI Life Branch


Premium payment is not due for this policy

Payment can not be accepted

3 Only in force policy premium accepted, please contact SBI Life branch


Last day for premium payment is over. Payments for such policies can not be accepted at SBI branches. Under EFT, payment only up to 5 days before the expiry of grace period will be accepted

Policy is valid but due date for payment is over. Please ask the person to approach SBI Life branch

4 Premium payment for Pension Policy not allowed at SBI branches, please contact SBI Life


Premium payments for Pension Policies can not be accepted at SBI Branches

For all such policies customer should approach nearest SBI Life branch for premium payments

24branch

5 Premium already received for the day


Payment towards the Policy no. has been received during the day

If the current payment pertains to a different period, then this can be paid next day or there after. i.e. For any given policy, only one payment is accepted during the day

6 Amount should be greater or equal to Gross Premium Amount


Premium accepted is less than the Gross Premium Amount

The amount paid by the customer towards Renewal Premium can not be less than Gross Premium. It has to be equal to or more than what is displayed on the terminal as Gross Premium

7 Please fetch the details of new Policy Number


After entering the Banking (payment) details and before pressing the submit button, the Policy No. earlier entered is now changed

In such case you can not complete the transaction. Press Close button & then reenter the Policy No and fetch the details by pressing the GET button. Then enter the Banking details and proceed

8 Host application is unavailable. Please inform Administrator


The Server at SBI CDC is down. Try once again

If the message still persists, please contact the SBI CDC Helpline

9 SBI Life Mid Server is not available. Please contact Administrator


The Server hosting the middleware is down. Try once again

If the message still persists, please contact the SBI CDC Helpline

Formatted: Font: Not Bold




25

Do not do any Cancellation / Reversals of any payments carried out through EFT. In an eventuality of wrong transaction, request the customer to contact nearest SBI Life branch In case of Renewal Premiums, System checks the correctness of policy no., premium amount as well as policy status. The module has validations for not accepting wrong policy nos. or amount less than the premium or for invalid status.

26 CHALLAN:

27 11. Anti Money Laundering & KYC Guidelines (CC letter no. PBBU/MCS/06-07/176 dated 12.10.06 enclosing Circular no. PBBU/MCS/06-07/11 dated 12.10 .06 and CC Letter no. PBBU/MCS/06-07/200 dated 16.12.06 enclosing Circular no. PBBU/MCS/06-07/14 dated 16.12.06) (a) The Prevention of Money Laundering Act 2002 was enacted to prevent

criminal elements from using the financial system for money laundering

activities. Consequently, the Reserve Bank of India introduced the Know Your

Customer (KYC) guidelines requiring all Banks to be fully compliant by Dec

2005.

(b) Following these events, the IRDA also vide their Circular no.

043/IRDA/Life/AML/Mar 06 dated 31st March 2006 drew up and issued

guidelines on Anti Money Laundering program for insurers (Annexure 1). In

compliance, SBI Life Insurance Co. have adopted an Anti Money Laundering

Policy (Annexure 2).

(c) As a Corporate Agent of SBI Life Insurance Co., the AML Policy also

applies to the Bank in so far as our insurance activity is concerned.

Accordingly, SBI Life Insurance Co. have drawn up a “Checklist for

compliance of Anti-Money Laundering Policy” (Annexure 3).

(d) All Certified Insurance Facilitators (CIFs) and Branches are to strictly

adhere to the AML guidelines, in particular:

i) Obtention of photograph of proposer (applicant) to be attached to the

proposal form.

ii) Checklist at annexure 3 should form part of CIF’s Confidential Report on

the proposer.

iii) Proof of Identity and Proof of Residence from amongst the documents

listed as acceptable under AML Guidelines

iv) Proof of Income will need to be obtained for all individual proposals with

annual premium of Rs. One Lac or more, for regular as also single premium.

28v) Apply to PURE TERM INDIVIDUAL proposals also i.e. Edu

–Shield and Shield also.

Annexure 1 Guidelines on Anti Money Laundering programme for Insurers Sl. No. Particulars Page No. 1. Background 1 2. What is Money Laundering? 1 3. AML Program 2 3.1 Internal policies, procedures, and controls 2

3.1.1. Know Your Customer (KYC) 2 3.1.2. When should KYC be done?

i. Knowing New Customers 3 ii. Knowing Existing Customers 3

3.1.3. KYC and Risk Profile of the Customer 3 3.1.4. Products to be covered 4 3.1.5. Sources of Funds 4 3.1.6. Defining Suspicious Transactions (including

Suspicious Cash Transactions) 4 3.1.7. Reporting of Suspicious Transactions 4 3.1.8. Monitoring and Reporting of Cash Transactions 4 3.1.9. Verification at the time of redemption/surrender 5 3.1.10. Record Keeping 5 3.1.11. Compliance Arrangements 6

3.2 Appointment of Principal Compliance Officer 6 3.2.1. Appointment 6 3.2.2. Responsibilities 6

3.3 Recruitment and Training of employees/agents 6 3.4 Internal Control/Audit 7 Annexure I Customer Identification Procedure 8 Annexure II Vulnerable Products 9 Annexure III Income Proofs 10 Annexure IV Illustrative list of Suspicious Transactions 11

29 Guidelines on Anti Money Laundering programme for Insurers (Circular Ref: 043/IRDA/LIFE/AML/MAR-06 31 March 2006) 1. Background: 1.1 The Prevention of Money Laundering Act, 2002 brought into force with effect from 1st July 2005, is applicable to all the financial institutions which include insurance institutions. The application of anti-money laundering measures to non-depository financial institutions generally, and to the insurance companies in particular, has also been emphasized by international regulatory agencies as a key element in combating money laundering. Establishment of anti money laundering programs by financial institutions is one of the central recommendations of the Financial Action Task Force and also forms part of the Insurance Core Principles of the International Association of Insurance Supervisors (IAIS). Accordingly, the Authority has decided to put in place the following regulatory guidelines/instructions to the Insurers, Agents and Corporate agents as part of an Anti Money Laundering Programme (AML) for the insurance sector. 1.2 Insurers offer a variety of products aimed at transferring the financial risk of a certain event from the insured to the insurer. These products include life insurance contracts, annuity contracts, non-life insurance contracts, and health insurance contracts. These products are offered to the public through trained agents of the insurance companies and also through a number of alternate distribution channels like direct marketing, bancassurance etc. The guidelines are therefore of importance to the agents and corporate agents also, to the extent indicated in the guidelines. 1.3 The obligation to establish an anti-money laundering program applies to an insurance company, and not to its agents, and other intermediaries. Hence the responsibility for guarding against insurance products being used to launder unlawfully derived funds or to finance terrorist acts, lies on the insurance company, which develops and bears the risks of its products. 2. What is Money Laundering? 2.1 Money Laundering is moving illegally acquired cash through financial systems so that it appears to be legally acquired. 2.2 There are three common stages of money laundering as detailed below which are resorted to by the launderers and insurance institutions which may unwittingly get exposed to a potential criminal activity while undertaking normal business transactions: - • Placement - the physical disposal of cash proceeds derived from illegal activity;

30• Layering - separating illicit proceeds from their source by creating complex layers of financial transactions designed to disguise the source of money, subvert the audit trail and provide anonymity; and • Integration - creating the impression of apparent legitimacy to criminally derived wealth. 2.3 If the layering process has succeeded, integration schemes place the laundered proceeds back into the economy in such a way that they re-enter the financial system appearing to be normal business funds. Financial institutions such as insurers are therefore placed with a statutory duty to make a disclosure to the authorized officer when knowing or suspecting that any property, in whole or in part, directly or indirectly, representing the proceeds of drug trafficking or of a predicated offence, or was or is intended to be used in that connection is passing through the institution. Such disclosures are protected by law, enabling the person with information to be able to disclose the same without any fear. Insurance institutions likewise need not fear breaching their duty of confidentiality owed to customers. 3. AML Program: In order to discharge the statutory responsibility to detect possible attempts of money laundering or financing of terrorism, every insurer needs to have an AML program which should, at a minimum, include: 3.1 Internal policies, procedures, and controls; 3.2 Appointment of a Principal compliance officer; 3.3 Recruitment and training of employees/agents; 3.4 Internal Control/Audit; The above key elements of the AML programme are discussed in detail below: 3.1 Internal policies, procedures, and controls: Each insurance company has to establish and implement policies, procedures, and internal controls which would also integrate its agents in its anti-money laundering program as detailed below: 3.1.1 Know Your Customer (KYC): Considering the potential threat of usage of the financial services by a money launderer, insurance company should make reasonable efforts to determine the true identity of all customers requesting for its services. Hence effective procedures should be put in place to obtain requisite details for proper identification of new customers. i. A list of documents to be verified at the time of accepting the risk for compliance with KYC requirement for individuals and others is given in Annexure I. It is mandatory to obtain any one of the documents to clearly

31establish the customer identity consistent with risk profile in respect of all new insurance contracts (Please also see 3.1.3 below). ii. The degree of due diligence to establish KYC could be decided by the insurers where premium is below Rs. 1 lakh per annum. However, premium of Rs. 1 lakh per annum in case of individual policies should be considered as a threshold for exercising detailed due diligence, what ever be the payment mode (Please see 3.1.3 below). iii. Remittance of premium is an important stage of entering into contract, hence, cash transactions need more diligence and care (Please also see para 3.1.8) iv. Customer information should be collected from all relevant sources, including from agents. v. Insurance premium paid by persons other than the person insured should be looked into to establish insurable interest. vi. The insurer should not enter into a contract with a customer whose identity matches with any person with known criminal background or with banned entities and those reported to have links with terrorists or terrorist organizations (A list of such entities would be sent to the insurance companies shortly). vii. Besides verification of identity of the customer at the time of initial issuance of contract, KYC should also be carried out at the claim payout stage and at times when additional top up remittances are inconsistent the customers known profile. 3.1.2 When should KYC be done? i. Knowing New Customers: a. In case of new contracts, KYC should be done before the issue of every new contract. b. In case of non face to face business which includes Tele calling, Internet Marketing, Logging in of business or payment of premiums/lump sums at branches, collection of documentation be completed for premiums exceeding Rs. 1 lakh per person per annum within 15 days of issue of policy. ii. Knowing Existing Customers: It has been decided that the process of AML should be applied for the policies coming into force on or after 01.04.2004. Since Insurers, invariably collect considerable background of the policyholder as also the beneficiary before entering into contracts no major constraints are expected in this exercise, in respect of the existing contracts. KYC in case of existing customers should

32therefore be carried out based on the limits fixed for new policies on all contracts/relevant transactions in case of the existing polices. 3.1.3 KYC and Risk Profile of the Customer: In the context of the very large base of insurance customers and the significant differences in the extent of risk posed by them, the companies are advised to classify the customer into high risk and low risk, based on the individual’s profile and product profile, to decide upon the extent of due diligence. i. For the purpose of risk categorization, individuals (other than High Net Worth) and entities whose identities and sources of wealth can be easily identified and transactions in whose accounts by and large conform to the known profile may be categorized as low risk. Illustrative examples of low risk customers could be salaried employees whose salary structures are well defined, people belonging to lower economic strata of the society, Government departments and Government owned companies, regulators and statutory bodies etc., In such cases, the policy may require that only the basic requirements of verifying the identity and location of the customer are to be met. Not withstanding above, in case of continuing policies, if the situation warrants, as for example if the customer profile is inconsistent with his investment through top-ups, a re-look on customer profile is to be carried out. ii. For the high risk profiles, like for customers who are non-residents, high net worth individuals, trusts, charities, NGO’s and organisations receiving donations, companies having close family shareholding or beneficial ownership, firms with sleeping partners, politically exposed persons (PEPs), and those with dubious reputation as per available public information who need higher due diligence, KYC and underwriting procedures should ensure higher verification and counter checks. In this connection insurers are also advised to carry out the appropriate level of due diligence keeping the observations at 3.1.5 in view. 3.1.4 Products to be covered: The AML requirements focus on the vulnerability of the products offered by the insurers to any of the process of money laundering. Some vulnerable products are illustrated in Annexure II. Based on the vulnerability criterion and after examining the product and business coverage it has been decided that the following categories of products/business lines may be exempted form the purview of AML requirements: i. Standalone medical/health insurance products. ii. Reinsurance and retrocession contracts where the treaties are between insurance companies for reallocation of risks within the insurance industry and do not involve transactions with customers.

33iii. Group insurance businesses which are typically issued to a company, financial institution, or association and generally restrict the ability of an individual insured or participant to manipulate its investment. iv. Term life insurance contracts, in view of the absence of cash surrender value and stricter underwriting norms for term policies (especially those with large face amounts) 3.1.5 Sources of Funds: It is imperative to ensure that the insurance being purchased is reasonable. Accordingly, customer’s source of funds, his estimated net worth etc., should be documented properly and the advisor and/or employee shall obtain income proofs as in Annexure III, to establish his need for insurance cover. Proposal form may also have questionnaires/declarations on sources of fund, and details of bank accounts. Large single premiums should be backed by documentation, to establish source of funds. 3.1.6 Defining Suspicious Transactions (including Suspicious Cash Transactions): The AML program envisages submission of Suspicious Transaction Reports (STR)/ Cash Transactions Reports (CTR) to a Financial Intelligence Unit-India (FIU-IND) set up by the Government of India to track possible money laundering attempts and for further investigation and action. It is extremely difficult to give an exhaustive list of suspicious transactions. An illustrative list of such transactions is however, provided in Annexure IV. Suspicious activity monitoring programs should be appropriate to the company and the products it sells. 3.1.7 Reporting of Suspicious Transactions: Insurance companies should report the suspicious transactions immediately on identification. When such transactions are identified post facto the contract, a statement may be submitted to FIU-IND within 3 working days of identification in the prescribed formats. 3.1.8 Monitoring and Reporting of Cash Transactions: With a view to ensuring that premiums are paid out of clearly identifiable sources of funds, it has been decided that remittances of premium by cash should not exceed Rs. 50,000/-. It would be advisable for the companies to evolve even lower thresholds for cash transactions. It is further advised that: i. Premium/proposal deposits beyond Rs. 50,000 should be remitted only through cheques, demand drafts, credit card or any other banking channels. ii. For integrally related transactions, premium amount greater than Rs. 50,000 in a calendar month should be examined more closely for possible angles of

34money laundering. This limit will apply at an aggregate level considering all the roles of a single person-as a proposer or life assured or assignee. iii. Insurance companies have to report integrally connected cash transactions above Rs. 10 lakhs per month to FIU-IND by 15th of next succeeding month 3.1.9 Verification at the time of redemption/surrender: i. In life insurance business, no payments should be allowed to 3rd parties except in cases like superannuation/gratuity accumulations and payments to legal heirs in case of death benefits. All payments, should be made after due verification of the bona fide beneficiary, through account payee cheques. ii. Free look cancellations needs particular attention of insurer especially in client/agents indulging in free look surrender on more than one occasion. iii. AML checks become more important in case the policy has been assigned by the policyholder to a third party not related to him (except where the assignment is to Banks/FIs/Capital Market intermediaries regulated by IRDA/RBI/SEBI) 3.1.10 Record Keeping: The insurer/agents/corporate agents are required to maintain the records of types of transactions mentioned under Rule 3 of PMLA Rules 2005 and the copies of the Cash/Suspicious Transactions reports submitted to FIU as well as those relating to the verification of identity of clients for a period of 10 years. i. Sharing of information on customers may be permitted between different organisations such as banks, insurance companies, Income tax authorities, local government authorities on request. Records can also be in electronic form. ii. Insurance institutions should implement specific procedures for retaining internal records of transactions both domestic or international, to enable them to comply swiftly with information requests from the competent authorities. Such records must be sufficient to permit reconstruction of individual transactions (including the amounts and types of currency involved (if any) so as to provide, if necessary, evidence for prosecution of criminal activity. In the case of long term insurance, full documentary evidence is usually retained based on material completed at the initiation of the proposal of the contract, together with evidence of processing of the contract up to the point of maturity. iii. Companies should retain the records of those contracts, which have been settled by claim (maturity or death), surrender or cancellation, for a period of at least 10 years after that settlement.

35 iv. In situation where the records relate to ongoing investigations, or transactions which have been the subject of a disclosure, they should be retained until it is confirmed that the case has been closed where practicable, insurance institutions are requested to seek and retain relevant identification documents for all such transactions and to report the offer of suspicious funds. v. In case of customer identification data obtained through the customer due diligence process, account files and business correspondence should be retained for at least 10 years after the business relationship is ended. 3.1.11 Compliance Arrangements: i. A detailed AML Policy should be drawn up encompassing aspects of Customer acceptance policy, Customer Identification procedure, Monitoring of transactions, Risk management framework as evolved by the insurer. The policy should have the approval of the board and duly filed with IRDA for information. The policy should be reviewed annually and changes effected based on experience. ii. Responsibility on behalf of the agents and corporate agents: The guidelines place the responsibility of a robust AML program on the insurers. Nonetheless, it is necessary that the following steps are taken to strengthen the level of control on the agents and corporate agents engaged by the insurers: a. A list of rules and regulations covering performance of agents and corporate agents must be put in place. A clause should be added making KYC norms mandatory and specific process document can be included as part of the contracts. b. Services of defaulting agents who expose the insurers to AML related risks on multiple occasions should be terminated and the details reported to IRDA for further action. c. Insurance Company when faced with a non-compliant agent or corporate agent should take necessary action to secure compliance, including when appropriate, terminating its business relationship with such an agent/corporate agent. 3.2 Appointment of Principal Compliance Officer: 3.2.1 Appointment: The companies should designate a Principal Compliance Officer under AML rules. The name of the principal compliance officer should be communicated to IRDA and FIU immediately.

36 3.2.2 Responsibilities: i. The Principal Compliance Officer should ensure that the Board approved AML program is being implemented effectively, including monitoring compliance by the company’s insurance agents with their obligations under the program; ii. He should ensure that employees and agents of the insurance company have appropriate resources and are well trained to address questions regarding the application of the program in light of specific facts. 3.3 Recruitment and Training of employees/agents 3.3.1 As most part of the insurance business is through agents/corporate agents which brings in non face to face business relationships with the policyholders, the selection process of agents/corporate agents should be monitored carefully. The committee monitoring the agents should monitor sales practices followed by agents and ensure that if any unfair practice is being reported then action is taken after due investigation; Periodic risk management reviews should be conducted to ensure company's strict adherence to laid down process and strong ethical and control environment. Insurance companies should have adequate screening procedures when hiring employees. Instruction Manuals on the procedures for selling insurance products, customer identification, record-keeping, acceptance and processing of insurance proposals, issue of insurance policies should be set out. 3.3.2 The concept of AML should be part of in-house training curriculum for agents. 3.3.3 The following training requirements are considered essential based on the class of employees. i. New employees: A general appreciation of the background to money laundering, and the subsequent need for identifying and reporting of any suspicious transactions to the appropriate designated point should be provided to all new employees who will be dealing with customers or their transactions, irrespective of the level of seniority. ii. Sales/Advisory staff: Members of staff who are dealing directly with the public (whether as members of staff or agents) are the first point of contact with potential money launderers and their efforts are therefore vital to the strategy in the fight against money laundering. It is vital that “front-line” staff is made aware of the insurance institution’s policy for dealing with non-regular customers particularly where large transactions are involved, and the need for extra vigilance in these cases.

37iii. Processing staff: Those members of staff who receive completed proposals and cheques for payment of the single premium contribution must receive appropriate training in the processing and verification procedures. iv. Administration/Operations supervisors and managers: A higher level of instruction covering all aspects of money laundering procedures should be provided to those with the responsibility for supervising or managing staff. v. Ongoing training: It will also be necessary to make arrangements for refresher training at regular intervals to ensure that staff does not forget their responsibilities. This might be best achieved by a twelve or six-monthly review of training. Timing and content of training packages for various sectors of staff will need to be adapted by individual insurance institutions for their own needs. vi. Records of training imparted to staff in the various categories detailed above should be maintained. 3.4 Internal Control/Audit: Insurance companies’ internal audit/inspection departments should verify on a regular basis, compliance with policies, procedures and controls relating to money laundering activities. The reports should specifically comment on the robustness of the internal policies and processes in this regard and make constructive suggestions where necessary, to strengthen the policy and implementation aspects. Exception reporting under AML policy should be done to Audit Committee of the Board. 4. The above guidelines on establishment of an effective AML regime would be effective from 1st August 2006. Insurance Companies are therefore required to initiate various steps on the lines indicated above and file their AML policies with IRDA latest by 1st July 2006 Yours faithfully, C.R. Muralidharan Member (Finance)

38

Annexure I Customer Identification Procedure Documents that may be obtained from customers Features Documents A. Insurance Contracts with individuals • Legal name and any other names used i. Passport ii. PAN Card iii. Voter’s Identity Card iv. Driving License v. Letter from a recognized public authority or public servant verifying the identity and residence of the customer • Proof of Residence i. Telephone bill ii. Bank account statement iii. Letter from any recognized public authority iv. Electricity bill v. Ration card B. Insurance Contracts with companies • Name of the company • Principal place of business • Mailing address of the company • Telephone/Fax Number i. Certificate of incorporation and Memorandum & Articles of Association ii. Resolution of the Board of Directors to open an account and identification of those who have authority to operate the account iii. Power of Attorney granted to its managers, officers or employees to transact business on its behalf iv. Copy of PAN allotment letter C. Insurance Contracts with partnership firms • Legal name • Address • Names of all partners and their addresses • Telephone numbers of the firm and partners i. Registration certificate, if registered ii. Partnership deed iii. Power of Attorney granted to a partner or an employee of the firm to transact business on its behalf

39 iv. Any officially valid document identifying the partners and the persons holding the Power of Attorney and their addresses

D. Insurance Contracts with trusts & foundations Names of trustees, settlers beneficiaries and signatories Names and addresses of the founder, the managers/directors and the beneficiaries Telephone/fax numbers i. Certificate of registration, if registered ii. Power of Attorney granted to transact business on its behalf iii. Any officially valid document to identify the trustees, settlers, beneficiaries and those holding Power of Attorney, founders/managers/directors and their addresses iv. Resolution of the managing body of the foundation/association

Annexure II Vulnerable Products: 1. Unit linked products which provide for withdrawals and unlimited top up premiums; 2. Single premium products-where the money is invested in lump sum and surrendered at the earliest opportunity; 3. Free look cancellations-especially the big ticket cases; (Note: The list is only illustrative and not exhaustive)

Annexure III

Income Proofs: 1. Standard Income proofs: 2. Income tax assessment orders/Income Tax Returns 3. Employer’s Certificate 4. Audited Company accounts 5. Audited firm accounts and Partnership Deed 6. Non-standard Income Proofs: 7. Chartered Accountant’s Certificate 8. Agricultural Income Certificate 9. Agricultural-land details & Income assessments 10. Bank Cash-flows statements, Pass-book (Note: The list is only illustrative and not exhaustive)

40Annexure IV

Illustrative list of Suspicious Transactions: 1. Customer insisting on anonymity, reluctance to provide identifying information, or providing minimal, seemingly fictitious information 2. Cash based suspicious transactions for payment of premium and top ups over and above Rs. 5 lakhs per person per month. It should also consider multiple DDs each denominated for less than Rs. 50,000/- 3. Frequent free look surrenders by customers; 4. Assignments to unrelated parties without valid consideration; 5. Request for a purchase of policy in amount considered beyond his apparent need; 6. Policy from a place where he does not reside or is employed; 7. Unusual terminating of policies and refunds; 8. Frequent request for change in addresses 9. Borrowing the maximum amount against a policy soon after buying it 10. Inflated or totally fraudulent claims e.g. by arson or other means causing a fraudulent claim to be made to recover part of the invested illegitimate funds 11. Overpayment of premiums with a request for a refund of the amount overpaid. (Note: The list is only illustrative and not exhaustive. For more examples on Suspicious Transactions please visit http://www.iaisweb.org)

41 Annexure 2

1. Know Your Customer

To meet the Know Your Customer (KYC) requirements, documents to prove name and residence must be collected from individual prospects. It is mandatory to collect:

2. any one of the following documents to establish proof of name and 3. any one of the documents listed below as proof of residence.

However, if the document of identity (like Passport, Driving Licence, etc.) also contains the address, the said document can be accepted for both identity and address proof. KYC Documents for Companies, Partnership firms etc. are also listed

below.

Features Documents Insurance Contracts with individuals Proof of name (Legal name and any other names used)

• Passport • PAN Card • Voter’s

Identity Card

• Driving License

• Letter from a recognized public authority* or public servant** verifying the identity and residence of the customer

• If none of the above documents are available, a personal identification and

42certification of the concerned Unit Manager/Branch Head for identity of the prospective policyholder along with a photograph of the customer.

Proof of Residence Telephone bill

(Telephone bill pertaining to any kind of telephone connection like, mobile, landline, wireless etc is a valid proof of residence, provided it is not older than six months from the date of insurance contract.)

Bank account statement (Bank account statement includes any bank account opened by the customer wherein his permanent/ present residence address is available. However, the statement should not be older than six months as on the date of acceptance.) Letter from any recognized

public authority

Electricity bill

Ration card

Valid lease agreement along with rent receipt, which is not more than 3 months old.

43 Proof of existence of

Employer (eg certificate of incorporation for a Company and Employers certificate evidencing that proof of residence. (Employers must have in place systematic procedures for recruitment along with maintenance of mandatory records of its employees are generally reliable. Sole proprietorships certificates will not be accepted).

Alternate Documents 1. A Bankers Certificate can be

accepted for both identity and residence proofs, provided the Proposed Policyholder is a Bank Customer.

For policies with premiums below one lakh per annum, it is mandatory to obtain identity proof. Obtaining proof of residence is left to the discretion of the Underwriter.

* public authority" means any authority or body or institution of self- government established or constituted—

2. by or under the Constitution; 3. by any other law made by Parliament; 4. by any other law made by State Legislature; 5. by notification issued or order made by the appropriate Government, and

includes any— 6. body owned, controlled or substantially financed 7. non-Government organization substantially financed, directly or indirectly

by funds provided by the appropriate Government;

**"public servant" means- (i) any person in the service or pay of the Government or remunerated by the Government by fees or commission for the performance of any public duty;

(ii) any person in the service or pay of a local authority ; (iii) any person in the service or pay of a corporation established by or under a Central, Provincial or State Act, or an authority or a body owned or controlled or aided by the Government or a Government company as defined in section 617 of the Companies Act, 1956;

44(iv) any Judge, including any person empowered by law to discharge, whether by himself or as a member of any body of persons, any adjudicatory functions; (v) any person authorised by a court of justice to perform any duty, in connection with the administration of justice, including a liquidator, receiver or commissioner appointed by such court; (vi) any arbitrator or other person to whom any cause or matter has been referred for decision or report by a court of justice or by a competent public authority; (vii) any person who holds an office by virtue of which he is empowered to prepare, publish, maintain or revise an electoral roll or to conduct an election or part of an election; (viii) any person who holds an office by virtue of which he is authorised or required to perform any public duty; (ix) any person who is the president, secretary or other office-bearer of a registered co-operative society engaged in agriculture, industry, trade or banking, receiving or having received any financial aid from the Central Government or a State Government or from any corporation established by or under a Central, Provincial or State Act, or any authority or body owned or controlled or aided by the Government or a Government company as defined in section 617 of the Companies Act, 1956; (x) any person who is a chairman, member or employee of any Service Commission or Board, by whatever name called, or a member of any selection committee appointed by such Commission or Board for the conduct of any examination or making any selection on behalf of such Commission or Board; (xi) any person who is a Vice-Chancellor or member of any governing body, professor, reader, lecturer or any other teacher or employee, by whatever designation called, of any University and any person whose services have been availed of by a University or any other public authority in connection with holding or conducting examinations; (xii) any person who is an office-bearer or an employee of an educational, scientific, social, cultural or other institution, in whatever manner established, receiving or having received any financial assistance from the Central Government or any State Government, or local or other public authority. Explanation 1.Persons falling under any of the above sub-clauses are public servants, whether appointed by the Government or not. Explanation 2.Wherever the words "public servant" occur, they shall be understood of every person who is in actual possession of the situation of a public servant, whatever legal defect there may be in his right to hold that situation.

46

Features Documents Insurance Contracts with companies

xiv. Name of the company xv. Principal place of business xvi. Mailing address of the

company xvii. Telephone/Fax Number

1. Certificate of incorporation and Memorandum & Articles of Association

2. Resolution of the Board of Directors to open an account and identification of those who have authority to operate the account

3. Power of Attorney granted to its managers, officers or employees to transact business on its behalf

4. Copy of PAN allotment letter

Features Documents Insurance Contracts with partnership firms

xviii. Legal name xix. Address xx. Names of all partners and

their addresses xxi. Telephone numbers of the

firm and partners

a) Registration certificate, if registered

b) Partnership deed c) Power of Attorney granted to a

partner or an employee of the firm to transact business on its behalf

d) Any officially valid document identifying the partners and the persons holding the Power of Attorney and their addresses

Features Documents Insurance Contracts with trusts & foundations

xxii. Names of trustees, settlers beneficiaries and signatories

xxiii. Names and addresses of the founder, the managers/directors and the beneficiaries

xxiv. Telephone/fax numbers

a. Certificate of registration, if registered

b. Power of Attorney granted to transact business on its behalf

c. Any officially valid document to identify the trustees, settlers, beneficiaries and those holding Power of Attorney, founders/managers/directors and their addresses

d. Resolution of the managing body of the foundation/association

The staff accepting the business must also ensure that the KYC procedures are complete.

47 • Photograph/Photo I.D

It is mandatory to collect either a photograph or a photo I.D of customers at the proposal stage. In the event the photo i.d is not clear, a photograph must be insisted upon.

• Sources of Funds

The customer’s source of funds, his estimated net worth etc., should be documented properly and income proofs** be taken in case where total annual premium paid by customer is equal to or more than Rs 1 lakh.

**Illustrative list of income proofs:

Standard Income proofs: Income tax assessment orders/Income Tax Returns

Employer’s Certificate i. Audited Company accounts

v. Audited firm accounts and Partnership Deed

Non-standard Income Proofs: Chartered Accountant’s Certificate Agricultural Income Certificate Agricultural-land details & Income assessments Bank Cash-flows statements, Pass-book

Single premiums above Rs 5 lakh Large single premiums should be backed by documentation, to establish source of funds.

• It is reiterated that no cash premiums be collected until further specific

instructions in this regard are given. • The Agent/CIF must verify that

i. he has completed all KYC norms, ii. he has taken all possible precautions to ensure compliance with the

Anti Money Laundering Guidelines and the Anti Money Laundering Policy of the Company, and

iii. he has verified that the person is not an anonymous /fictitious /benami person

• The Agent/CIF must sign the Confidential Report certifying the above.

Till such time that the requisite details are incorporated in the ACR form, the following words should be affixed on the ACR and the signature of the Agent CIF be taken.

48“I hereby confirm that I have followed and completed all the Know Your Customer (KYC) norms as prescribed in the Anti Money Laundering Policy of SBI life and in the IRDA Anti Money Laundering Guidelines. I also certify that I have taken all possible precautions to ensure compliance with the Anti Money Laundering Guidelines and the Anti Money Laundering Policy of the Company and have verified to the best of my knowledge that the prospect is not an anonymous, fictitious and / or a benami person. Further, I certify that I have not accepted any premium or deposit towards procuring insurance in cash. _________________

Agent/CIF signature”

49

Annexure I Form of Confirmation to be given by the SBI Life Branch employee heading the channel through which the business is sourced for identification and proof of residence of a Prospective Policyholder Date: To The Chief Underwriter, SBI Life Insurance Company Limited, ____________ ____________. (to be countersigned by the Prospective Policyholder across the photograph) Dear Sir/Madam, Sub.: Confirmation of identity and residence of Prospective Policyholder Ref.: Application No._____________- Mr./Mrs./Ms. _________________ I hereby confirm that photograph affixed above is that of the person whose name is mentioned above. Further I also confirm that the above person resides currently at the following address:- Address:-________________ ________________ ________________ _________________ The above confirmations are based on my personal enquiries with the Agent and Customer and I am fully satisfied above the correctness of the above declarations. I also understand that I will be personally responsible if this declaration is proved incorrect. Yours truly, For SBI Life Insurance Company Limited, Name: Designation: Branch Manager/Unit Manager

Affix latest passport size Photograph

50

Annexure II <<On the Employers Letterhead>> Form of Confirmation to be given by the Employer for identification and proof of residence of an employee who is the Prospective Policyholder (Employer should be either a Partnership Firm/Company/Corporation/Bank/Trust /Society) Date: To The Chief Underwriter, SBI Life Insurance Company Limited, ____________ ____________.

(to be countersigned by the Prospective Policyholder across the photograph) Dear Sir/Madam, Sub.: Confirmation of identity and residence of Prospective Policyholder Ref.: Application No._____________- Mr./Mrs./Ms. _________________ We hereby confirm that the above mentioned person is an employee of our organization with Employee No.________ and is employed as ____________ (Designation) in our _________ Office (Head Office/Branch Office name). At the time of recruiting the employee, we confirm that we have obtained necessary documentary evidence to establish the identity and residence. As per our records, the above person resides currently at the following address:- Address:-________________ ________________ Our PF No._______ and our Income-tax Permanent Account No. is __________ We further confirm that our organization has systematic procedures for recruitment alongwith maintenance of mandatory records for our employees. Yours truly, For ______________Company Limited/Private Limited/Firm/Trust/Society Name, Name: Designation:

Affix latest passport size photograph here

51Note:-

Only an employer who is the nature of a Partnership Firm or Companies or Trust or Societies or Association of Persons or Body of Individuals can give this Certification. Certifications from Employers who are in the nature of Sole Proprietorship concerns will not be accepted.

52 Annexure III

<<On the Bank’s Letterhead>> Form of Confirmation to be given by the Banks for identification and proof of residence of a Prospective Policyholder who is a Bank Customer Date: To The Chief Underwriter, SBI Life Insurance Company Limited, Dear Sir/Madam, Sub.: Confirmation of identity and residence of Prospective Policyholder Ref.: Application No._____________- Mr./Mrs./Ms. _________________ We hereby confirm that the above mentioned person holds Savings/Current/ Deposit/Loan Account No.____ with our Bank. At the time of opening the account, we confirm that we have obtained necessary documentary evidence to establish the identity and residence, as per the “Know Your Customer” Guidelines of Reserve Bank of India and as per our records, the above person resides currently at the following address:- Address:-________________ ________________ ________________ _________________ Yours truly, For ______________Bank Limited, Name: Designation:

53

Annexure 3

Checklist for Compliance of Anti-Money Laundering Policy : To be completed by the CIF Checklist Y/N Copies of Document attached 1. Have you obtained any one of the prescribed proof of identity? @

2. Have you obtained any one of the prescribed proof of address ? #

3. Have you verified that the name and address mentioned in the aforesaid two documents are the same as stated in the proposal forms?

4. Have you obtained the source of income document where required ?%

I hereby declare that the foregoing statements are true and correct to the best of my knowledge and belief. ____________________ Signature of CIF Explanation: @ i. Passport ii. PAN Card

iii. Voter’s Identity Card iv. ……….. v. ……….. # i. Telephone Bill ii. Bank Account Statement iii. Ration Card iv. …………. V. ………….. % i. Income Tax Assessment Orders / Income Tax Returns ii. Employer’s Certificate iii. …………. iv. …………..

54

Chapter 4. Mutual Funds

SEBI circular No. MFD/CIR No.10/310/01 dated September 25, 2001

stipulates inter alia that all distributors and agents of mutual funds units

should pass the AMFI certification examination and follow the provisions of

SEBI (Mutual funds) Regulations and Guidelines. Further, SEBI Circular No.

MFD/CIR/ 06/210/2002 dated June 26, 2002 inter-alia required them to also

follow code of conduct as recommended by AMFI.

i. Selection, Training and Certification as AMFI Certified

Employee

(CC letter no. MCS/03-04/17 dated 12.05.2003 and MCS/04-05/15

dated 27th

April 2004)

11. Identification of Branches: The Circle Management will identify the

branches taking into account the clientele profile, potential for Mutual

fund selling , size of the branch etc.

12. Identification of Officers/Assistants: From each identified branch,

option will be sought from Officers and assistants for marketing

Mutual Funds

13. Selection of Officers/Assistants: From the Officers/Assistants, who

volunteer, selection will be made through an interview process by a

committee consisting of:-

a. An Assistant General Manager of the Region

b. A representative of SBI Funds Mgt. Ltd.

c. Asst. General/Chief Manager (Cross Selling) of the Network

d) Not more than 2 persons, whether Officer and/or Assistant shall be

selected from each identified branch. The Officers/Assistants selected by

the Committee will be required to undergo training and appear for an

55AMFI prescribed test. The successful Officers/Assistants will

thereafter be entrusted with the responsibility of marketing products of SBI

Funds Management Ltd. in addition to their other responsibilities.

2. (a) Procedure for obtaining Registration ( CC letter nos. PBBU/MCS/05- 06/187 dated 25th March 2006 and MCS/07-08/67 dated 5th December 2007)

Consequent to the Bank tying up as a distribution agent for mutual fund

products of various companies, the AMFI certification and training and

examination programmes for our employees are being conducted in the

Circles by SBI Mutual Fund, UTI Mutual Fund, Tata Mutual Fund, Fidelity

Mutual Fund and Franklin Templeton Mutual Fund. In order to enable the

Bank and the Circles to keep track of such certification, it is necessary to have

a uniform system for AMFI Registration applicable to all Circles and Mutual

Fund tie-up partners. Accordingly, the procedure shall be as detailed below :

i) The AMC organizing the AMFI certification training programme should

obtain “Application Form for Photo Identity Card (Corporate Employees)”,

complete in all respects from all participants at the start of the training

programme.

ii) The AMC conducting the AMFI Certification training should deliver the

mark sheets of all candidates to the Asst. General / Chief Manager (Cross

Selling) directly and retain an acknowledgement.

iii) All the mark sheets should be branded with a stamp reading “Corporate

Employees of State Bank of India, ARN 12195”.

iv) While the mark sheets of the unsuccessful candidates may be returned to

the respective employees, the mark sheets of the successful candidates shall

be retained by Asst. General / Chief Manager (Cross Selling).

v) The “Application Forms for Photo Identity Card (Corporate Employee)”,

obtained at the beginning of the training of all the successful candidates

should be forwarded alongwith respective photocopies of the mark sheets

and a single DD for the requisite registration amount, by debit to LHO

Charges A/c to the local office of M/s CAMS already forwarded, vide our

letter under reference.

56vi) In the covering letter, M/s. CAMS should be requested to forward all

the photo ID cards directly to Asst. General / Chief Manager (Cross Selling)

concerned.

vii) After receipt of the Photo ID Cards, at LHO, the same along with the

original mark sheet should be forwarded to the respective Branch Manager /

HOD of the successful employees to be handed over to the ACE.

Rationale:

SEBI Guidelines for REGISTRATION OF INTERMEDIARIES vide SEBI Circular No. MFD/CIR/20/23230/2002 dated November 28, 2002

It has since been decided in consultation with AMFI that all intermediaries engaged in selling and marketing of mutual funds units (distributors, agents, brokers, sub-brokers or called by any other name, whether individuals or of any other organisation structure) shall be registered with AMFI by March 31, 2003 Such registration shall be subject to passing of certification examination and adherence to guidelines as specified by SEBI and AMFI from time to time.

57 APPLICATION FORM FOR ARN CARD (Corporate Employee)

ASSOCIATION OF MUTUAL FUNDS IN INDIA

709, RAHEHA CENTRE, FREE PRESS JOURNAL MARG, NARIMAN POINT, MUMBAI – 400 021

Name of applicant :

First Name :

Middle Name :

Last Name :

Date of Birth : D D M M Y Y

Stamp Size Two Colour Photographs

Name of the Organization employed by:

ARN No. of the organization :

Designation / position held :

Brief description of responsibilities :

AMFI Certificate Number :

Test Centre :

Date of passing test : D D M M Y Y

Residential Address :

58

City & Pin Code :

Telephone Number (Residence) :

Office Address :

City & Pin Code :

Telephone Number (Office) :

Qualifications: Course :

University / Institute :

Year of Passing :

Payment Details: DEMAND DRAFT NO. :

DATE :

59D D M M Y Y Y Y

AMOUNT :

Drawn on (Name & Branch of Bank) :

Place

SIGNATURE OF THE APPLICANT Date

ATTESTED BY

DESIGNATION : Signature with

Company Stamp

ACKNOWLEDGEMENT Received Registration form from (Mr./Ms. ) ____________________________________ along with a Demand Draft No. _______________ for Rs. ___________________ (Rs. __________________________________________) Drawn on (Bank & Branch) ______________________________________________dated ___________________ being Fees for Registration with AMFI.

(SIGNATURE OF THE RECEIVER)

60 2(b) Procedure for Renewal of Registration (vide SBI MF letter no. FM/SHR/197 dated 15th January 2007 to all Circles) AMFI CERTIFICATION As per AMFI guidelines, all financial intermediaries engaged in marketing

and selling Mutual Funds products must be AMFI certified.

Accordingly, State Bank Group has been identifying employees for writing

the AMFI Certification Test to enable them to market and sell MF products.

On successful completion of the Test the employees are duly registered with

AMFI and are qualified to market and sell MF products. This registration is

valid for a period of 5 years.

i) The registration becomes due for renewal on

completion of 5 years. The renewal exercise needs to

be completed within a period of 6 months from the

date that the registration became due for renewal.

ii) The renewal of registration as Corporate employee

can be done

iii) Either by reappearing and passing the AMFI

Certification Test all over again, or attending the

refresher course.

iv) Submission of zerox copy of passing certificate

obtained after clearing the Test or Certificate of

attending the refresher course, within one month of

passing the Test or attending the refresher course.

v) Further SEBI has exempted existing employees who

would be above the age of 50 years (as on 30.09.2003)

from writing the AMFI Certification Test provided

they have an experience of 5 years in sales and

marketing of MF products or interacting with

investors. They would however have to

vi) Attend the refresher course.

61vii) Submission of zerox copy of

certificate of attending the refresher course, within

one month of attending the same.

AMFI REFRESHER COURSE IN MUTUAL FUNDS REGISTRATION FORM APPLICANT’s NAME (TO BE PRINTED ON CERTIFICATE) Title: Mr. / Mrs. / Ms.

DATE OF BIRTH D D M M Y Y Y Y M / F

ADDRESS

PASSPORT – SIZE COLOUR PHOTOGRAPH

OF CANDIDATE PASTE

(DO NOT STAPLE)

62 EMAIL: ________________________________________________________ Tel No: Mobile: RCMF Centre: RCMF Date: Payment details DD No.______________ DD date:__________ Rs._____________ Issuing bank:_____________________________________________ Cash deposited at AXIS Bank at__________________ on _______________ Rs. ___________ I certify that the above information provided is true and correct. _______________________________________________________ Candidate’s Signature Place: Date: ________________________________________________________________________________ Indian Institute of Capital Markets, Plot # 82, Sector 17, Vashi, Navi Mumbai -400 705

63 ACKNOWLEDGMENT/RECEIPT We thankfully acknowledge the receipt of Rs. 1,200/- by DD/Cash bearing number__________ dated______________drawn in favour of Indian Institute of Capital Markets/Cash deposited in Axis Bank’s branch_______________ in S/B account number 072010100287494 of Indian Institute of Capital Markets on (date)____________________. Authorized Signatory Place: Vashi For Indian Institute of Capital Markets Date:

Centre Date Host Organisation Contact Details

Name: Dr. C. V. Hiremath Tel: 022-2788 3022

MUMBAI(VASHI) November 1, 2008

INDIAN INSTITUTE OF CAPITAL MARKETS

Email: [email protected]


MUMBAI(CST) November 8, 2008




MUMBAI(VASHI) November 15, 2008



DELHI November 17, 2008


Name: Tel: Email:

SHRI V. K. ANAND 011-26139274/26124707 [email protected]


MUMBAI(VASHI) December 6, 2008



MUMBAI(CST) December INDIAN Name: Dr. C. V. Hiremath

64Tel: 022-2788 3022 13, 2008 INSTITUTE

OF CAPITAL MARKETS


3. Scheme for Reimbursement of Examination fees and Payment of

Honorarium

(Vide e-Circular no. P&HRD. Sl. No. : 268/2007 – 08 Circular No. : CDO/P&HRD-LANDD/24/2007 – 08 August 11,2007.) i) Reimbursement of examination fees and study material will be on actual

basis. Presently the examination fee payable for AMFI Certification (Advisors

Module) is Rs.750.00 (Rupees seven hundred fifty only) and for study

material (Work book) the cost is Rs.400.00 (Rupees four hundred only)

(inclusive of Rs.100.00 postal/ courier charges). The above amounts will be

reimbursed on actual basis subject to production of receipts on successful

completion of the examination.

ii) The amount of honorarium is Rs.5000.00 (Rupees five thousand only).

iii) The Honorarium Scheme is extended to cover such contract employees

also.

iv) The Scheme is applicable only AMFI Certified agents, i.e. those who have

passed the AMFI Certification Test (Advisors Module) and obtained

registration number from AMFI and are permitted to sell/ market Mutual

Fund products.

654. Code of Conduct for AMFI Certified Employees

The relevant extract from AMFI Guidelines and Norms for Intermediaries

dated 19th February 2002 is reproduced below, for adherence by all

concerned:

1………..

2………..

3.1 Take necessary steps to ensure that the clients’ interest is protected.

3.2 Adhere to SEBI Mutual Fund Regulations and guidelines related to selling,

distribution and advertising practices. Be fully conversant with the key

provisions of the offer document as well as the operational requirements of

various schemes.

3.3 Provide full and latest information of schemes to investors in the form of

offer documents, performance reports, fact sheets, portfolio disclosures and

brochures, and recommend schemes appropriate for the client’s situation and

needs.

3.4 Highlight risk factors of each scheme, avoid misrepresentation and

exaggeration, and urge investors to go through offer documents/key

information memorandum before deciding to make investments.

3.5 Disclose all material information related to the schemes/plans while

canvassing for business.

3.6 Abstain from indicating or assuring returns in any type of scheme, unless

the offer document is explicit in this regard.

3.7 Maintain necessary infrastructure to support the AMCs in maintaining

high service standards to investors, and ensure that critical operations such as

forwarding forms and cheques to AMCs/registrars and despatch of statement

of account and redemption cheques to investors are done within the time

frame prescribed in the offer document and SEBI Mutual Fund Regulations.

3.8 Avoid colluding with clients in faulty business practices such as bouncing

cheques, wrong claiming of dividend/redemption cheques, etc.

3.9 Avoid commission driven malpractices such as:

(a) recommending inappropriate products solely because the intermediary is

getting higher commissions therefrom.

66(b) encouraging over transacting and churning of mutual fund investments

to earn higher commissions, even if they mean higher transaction costs and

tax for investors.

3.10 Avoid making negative statements about any AMC or scheme and

ensure that comparisons if any, are made with similar and comparable

products.

3.11 Ensure that all investor related statutory communications (such as

changes in fundamental attributes, exit/entry load, exit options, and other

material aspects) are sent to investors reliably and on time.

3.12 Maintain confidentiality of all investor deals and transactions.

3.13 When marketing various schemes, remember that a client’s interest and

suitability to their financial needs is paramount, and that extra commission or

incentive earned should never form the basis for recommending a scheme to

the client.

3.14 Intermediaries will not rebate commission back to investors and avoid

attracting clients through temptation of rebate/gifts etc.

3.15 A focus on financial planning and advisory services ensures correct

selling, and also reduces the trend towards investors asking for pass back of

commission.

3.16 All employees engaged in sales and marketing should obtain AMFI

certification. Employees in other functional areas should also be encouraged

to obtain the same certification.

Sequence of steps in the Event of Breach of Above “Code of Conduct” By

the Intermediary

If any breach of the above Code of Conduct for intermediary is reported to

AMFI by either an investor or an AMC in writing, then AMFI will initiate the

following steps:

_ Write to the intermediary (enclosing copies of the complaint and other

documentary evidence) and ask for an explanation within a time limit of 3

weeks _ In case an explanation is not received within the time limit, or the

explanation is not satisfactory, AMFI will issue a warning letter indicating

that any subsequent violation will result in cancellation of AMFI Registration

67_ If there is a proved second violation by the intermediary, the registration

will be cancelled and an intimation sent to all AMCs.

The intermediary will have a right of appeal to AMFI

68

5. Tie-up with SBI MF (vide CC letter no. MCS/03-04/17 dated 12.05.2003)

The need for leveraging our retail network and seek alternative avenues of

income streams to augment our fee income and boost profitability has been

engaging our attention for quite some time. Further, there is a distinct trend

towards bank branches offering their customers the entire range of financial

products and services. Against this backdrop, cross selling the products of

our Subsidiaries and Associates would enable us to exploit the synergy that

exists within the SBI Group. With this in view, it has been decided to

commence selling Mutual Fund products (MFs) of SBI Mutual Fund

(SBIMF) through select branches of our Retail Network.

69 i. Tie-up with UTI MF (vide CC Circular no. PBBU/MCS/06-07/01 dated

01.04.06)

SBI Mutual Funds has successfully leveraged our Branch network to mobilize

substantial subscriptions to its products including NFOs, during the current

financial year and this accomplishment has been noted by other Mutual

Funds in the market. In the hope of similarly increasing their penetration,

UTIMF had approached us with a proposal to market its Mutual Funds

through our branch network. On examination, it was decided that this offer

presents us with an opportunity to diversify our sources for increasing the fee

based income earned by our Branches. In addition, by selling Mutual Fund

products of companies, other than SBI Mutual Funds alone, the bouquet of

products of different brands would be enlarged, thereby increasing the cross

selling income and also helping to retain our customers who would otherwise

have migrated. The offer of UTI MF was duly considered and accepted by the

Bank and an agreement to this effect was entered into with UTI MF for a

period of 3 years w.e.f., 1st April 2006 to 31st March 2009. The arrangement

has since been extended up to 31st March 2012.

2. Offering select products of other mutual funds is also expected to enhance

the marketing ability of the branch because our customer is a discerning

customer, aware of the best products of mutual funds in the market and

unless the best product is offered, the customer may decide to look for the

same elsewhere.

3. It has therefore been decided, as a pilot project, to market select MF

products of UTIMF. Designated branches, (in all 295 branches) across the

country at 48 centres (63 UTI Finance Centres) will be authorized to accept

deposits (barring cash deposits) for select MF products of UTIMF.

Depending upon our experience in this pilot launch, the list of centres and

branches may be added/deleted and will be advised to Circles on an ongoing

70basis, in due course. Presently, the designated branches are authorized

to market the following UTI MF schemes only:

Equity Schemes

a) UTI Mastershare Unit Scheme

b) UTI Mastervalue Fund

c) UTI Dividend Yield Fund

d) UTI Basic Industries Fund

Balanced Schemes

a) UTI Children Career Plan (Balanced)

b) UTI Retirement Benefit Pension Plan

c) UTI Balanced Fund

4. SBI Mutual funds is a group company and as such we shall continue to give

preferential treatment to the sale of SBI Mutual Fund products .The

preferential treatment will remain in the following manner:

(i) SBI Mutual Fund products will be offered on

sale at all the branches throughout the

country with no restriction. The Bank /

Mutual Fund has set up a network of

Investor Service Centres / co-ordinators, etc.

at all LHOs exclusively for SBI Mutual Fund.

These shall remain dedicated to SBI Mutual

Funds.

(ii) The ACE shall first offer the SBIMF product

to the customer, in the case of competing

products.

(iii) The sale of products offered by UTI Mutual

Funds shall be restricted to branches in some

selected centres only.

715. Accounting/Collection System : UTI MF product application forms

will be accepted by the designated branches upto 2.00 p.m . These

applications accompanied by local cheques (no cash deposit) will be listed as

detailed in Annexure –A and handed over to the local UTI collecting agent by

2.30 pm and a copy will be sent by e-mail/fax to the local UTIMF office by

3.30 pm. A detailed check list and operational procedure are enclosed at

Annexures –A and A-I respectively.

6. Brokerage/Commission: A chart showing the brokerage structure is

enclosed at Annexure-B.

7. Circle-wise list of designated branches is enclosed at Annexure -C

72

Annexure-A

CHECK LIST FOR ACCEPTANCE OF APPLICATION

1. SBI’s ARN Code (12195), Branch code, ACE code have been affixed

in the relevant boxes in the top portion of the application form. The

ACE code is to be assigned by the Branch internally for tracking

purposes.

2. In the case of common application form, Scheme name has been

selected/stated y the Investor.

3. Option has been ticked.

4. Category of applicant and Holding basis have been ticked.

5. Application amount and Cheque amount is one and the same.

6. PIN code is furnished in the applicant’s address (a must).

7. PAN No. is furnished in all applications. KYC done by CVL Ltd. if

the investment is for Rs.50,000/- or more.

8. Application is signed by all the applicants.

9. The cheque submitted alongwith the applications is a local cheque.

10. NRI: In the case of applications received from non-residents, the

‘Mode of Payment’ is stated in the application. Further, the bank

account from which the cheque is issued at the time of investment

i.e. NRE, NRO or Rupee DD issued from Abroad as per the

instrument tallies with the ‘Mode of Payment’ as stated in the

application form.

11. Minor: In the case of investment in the name of minor, Date of Birth

and guardian’s name is present.

Scheme Specific Details

UTI Retirement Benefit Pension Fund: Date of Birth is mandatory.

UTI ULIP: Date of Birth and Health Declaration is mandatory.

UTI Children’s Career Plan: The child should be below 15 years of age.

UTI Mahila Unit Plan: Investment can be made only in the name of female.

73UTI CRTS: Only Trusts/Societies can invest in the scheme.

74

Annexure “A-I”

Procedure to be followed by Collecting Agent Bank (Exclusively for the business mobilised by State Bank of India) Day 1

a) Accept the sales applications with cheque upto 2.00 pm at their

counter on a daily basis.

b) Scrutinise all the applications and issue acknowledgement to the

investors over the counter, if the application is filled in and signed.

c) Enter the sales details in the Daily Sales Statement (DSS). This

statement should be prepared in duplicate. Separate DSS has to be

prepared for each scheme. Application of one scheme should not be

entered in the DSS of another scheme.

d) Cheques should not be detached from the applications.

Applications and cheques received upto 2 pm will be collected by

representatives of UTI Finance Centre (UFC) before 2.30 pm same

day along with the original copy of DSS (copy enclosed). A copy of

the DSS will be sent by Fax/e-mail to the UFC by 3.30 pm

Note:

(n) Cash will not be accepted by any branch of SBI.

(o) Investors should be kept informed by the Bank that the units

will be allotted at the sale price ruling on the date of receipt

of applications by UTI Financial Centre (UFC).

75

(For Agency Bank in UTI Branch Locations) From : To : State Bank of India The Chief Manager ______________________________ UTI Financial Centre _________________________ ________________________ ____________ Pin : ________ ______________ Pin :_________

UTI Mutual Fund – Daily Sales Statement for Sale of Units Scheme Name :

Date of Receipt : ____________

Sl.No. Application No.

Name of Applicant Cheque no. Amount (Rs.)

1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. 14. 15. 16. 17. 18. 19. 20. Total Amount Received

No. of Applications Previous Day Cumulative Total (X) Today’s Total (Y) Cumulative Total till Date (Z) = (X) + (Y) [1st April to 31st March]

76 Place: Date: Signature of Branch Manager

Annexure B Confidential Document for State Bank of India Commission & Load Structure Effective From 15.11.2005

Sr. No. Application

Size Upfront 1st yr Trail

2nd yr Trail

Load

D. Income schemes Entry Exit UTI-

<Rs. 10 lacs 0.50% Nil 0.30%

0.50% if exited on or before 180 days from the date of investment

1 Bond Advantage Fund

>= Rs. 10 lacs Nil 0.50% 0.30%

Nil

Nil

2

Bond Advantage Fund – Institutional Plan

Nil 0.25% 0.15% Nil Nil

<Rs. 10 lacs 0.50% Nil 0.30%


3 Bond Fund

>= Rs. 10 lacs Nil 0.50% 0.30%

Nil

Nil

4 MIS-Advantage Plan

<Rs. 10 lacs 0.50% Nil 0.30% Nil


77 >= Rs. 10 lacs Nil 0.50% 0.30% Nil

<Rs. 10 lacs 0.50% Nil 0.30%


5 Monthly Income Scheme

>=Rs. 10 lacs Nil 0.50% 0.30%

Nil

Nil

E. Gilt schemes

1 Gilt Advantage Fund –Long Term Plan Nil 0.60% 0.30% Nil Nil

2 Gilt Advantage Fund – Long Term Plan–PF Plan) 1.00% 0.20% 0.30% Nil

1% if exited before 1 year from the date of investment (Also Refer Note 8)

< Rs. 25 crores Nil 0.50% 0.30% Nil Nil 3 G-Sec Investment Plan

>= Rs. 25 crores 1.25% 0.50% 0.30% 1.25% Nil

F. Asset Allocation Scheme

< Rs. 2 crores 1.25% 0.75% 0.40% 1.50% Nil 1 Variable Investment Scheme

> = Rs. 2 crores Nil 0.75% 0.40% Nil Nil

78

Annexure C

Circle Centres Branches Ahmedabad 4 19 Bangalroe 4 20 Bhubaneshwar 1 5 Bhopal 3 14 Chandigarh 4 20 Chennai 6 16 Guwahati 1 4 Hyderabad 5 24 Kolkatta 4 20 Kerala 2 10 Lucknow 4 20 Mumbai 14 69 New Delhi 9 44 Patna 2 10 Total 63 295

Formatted: Centered

Formatted: Centered

Formatted: Centered

Formatted: Centered

Formatted: Centered

Formatted: Centered

Formatted: Centered

Formatted: Centered

Formatted: Centered

Formatted: Centered

Formatted: Centered

Formatted: Centered

Formatted: Centered

Formatted: Centered

Formatted: Centered

797. Tie-up with Tata MF

( vide CC circular No. MCS/07-08/6 dated 2nd June 2007)

We have successfully leveraged our Branch network to mobilize substantial

subscriptions for products of SBI Mutual Funds and UTI Mutual Funds

including NFOs, during the current financial year. Consequent to this

accomplishment, it has been decided to market its mutual funds through our

branch network. On examination, it was decided that this offer presents us

with an opportunity to diversify our sources for increasing the fee based

income earned by our Branches. In addition, by selling Mutual Fund

products of companies other than SBI Mutual Funds alone, the bouquet of

products of different brands would be enlarged, thereby increasing the cross

selling income and also helping to retain our customers who may otherwise

have migrated. The offer of TATA MF was duly considered and accepted by

the Bank and an agreement for a tie-up was entered into with TATA MF for a

period of 3 years w.e.f. 16th May 2007 to 15th May 2010.

2. It has, therefore, been decided, as a pilot project, to market select MF

products only, of TATA MF. Designated branches at centres where TATA

MF has its branches (list enclosed – Annexure I) will be authorized to accept

deposits (barring cash deposits) for select MF products of TATA MF.

Depending upon our experience in this pilot launch, the list of centres and

branches may be added / deleted and will be advised to Circles on an

ongoing basis. In this regard, we also request a reference to our letter no.

MCS/07-08/10 dated 25th April 07.

3. Presently, our designated branches will market only the New Funds

Offerings (NFOs) of TATA MF wherever TATA MF has its branches – Tata

Finance Centres (TFC) (list enclosed – Annexure I).

4. SBI Funds Management Ltd. is a great company and as such we shall

continue to give preferential treatment to the sale of SBI Mutual Fund

products. The preferential treatment will remain in the following manner :

80

i) SBI Mutual Fund products will be offered on sale at all the branches

throughout the country with no restriction.

ii) The ACE shall first offer the SBI MF product to the customer, in the

case of competing products.

iii) The sale of products offered by TATA Mutual Funds shall be

restricted to branches in the selected centres only.

5. Accounting / Collection System : TATA MF product application forms

will be accepted by our designated branches upto 2.00 p.m. These

applications accompanied by local cheques (no cash deposit) will be listed as

detailed in Annexure – II & II A and handed over to the local TFC collecting

agent by 2.30 p.m. and a copy will be sent by e-mail/fax to the local TFC

office by 3.30 p.m. A detailed check list and operational procedure are

enclosed at Annexure – II and II A respectively.

81 Annexure – I

S. No.

Circle *

Branches *

1. Ahmedabad Ahmedabad Rajkot Vadodara 2. Bangalore Bangalore 3. Bhopal Indore 4. Bhubaneshwar Bhubhaneshwar 5. Chandigarh Chandigarh Ludhiana 6. Chennai Channai Combatore 7. Delhi Delhi Jaipur Jodhpur Udaipur 8. Hyderabad Hyderabad 9. Kolkata Kolkata 10. Lucknow Kanpur 11. Mumbai Goa Mumbai Nashik Pune 12. Patna Jamshedpur

* There are presently no branches (TFCs) of TATA MF in NE/ Kerala Circles.

82 Annexure – II


• Ensure that SBI’s ARN Code (12195), Branch Code, ACE code is affixed


Branch code no. must be stamped under “Sub Broker” code to ensure

payment of brokerage to branch. The ACE code is to be assigned by

the Branch internally for tracking purposes.

• In the case of common application form, Scheme name must be

selected / stated by the Investor.

• Option is ticked.

• Category of applicant and Holding basis are ticked.

• Application amount and Cheque amount is one and the same.

• PIN code is furnished in the applicant’s address (a must).

• PAN No. is furnished in the application form or in the absence of

PAN, Form No. 60/61 is enclosed if the investment is for Rs,50,000/- or

more.

• Application is signed by all the applicants.

• The cheques submitted alongwith the applications is a local cheque.

• NRI : In the case of applications received from non-residents, the


account from which the cheque is issued at the time of investment i.e.

NRE, NRO or Rupee DD issued from Abroad as per the instrument

tallies with the ‘Mode of Payment’ as stated in the application form.

• Minor : In the case of investment in the name of minor, Date of Birth


83 Annexure “II-A”

Procedure to be followed by Branch (Exclusively for the business mobilized by State Bank of India) Day 1

Accept the sales applications with cheques upto 2.00 pm at their


Scrutinize all the applications and issue acknowledgement to the

investors over the counter, if the application is correctly filled in and

signed.

Enter the sales details in the Daily Sales Statement (DSS). This




Cheques should not be detached from the applications. Applications

and cheques received upto 2 pm will be collected by representatives of

TATA Finance Centre (TFC) before 2.30 pm same day along with the

original copy of DSS (copy enclosed). A copy of the DSS will be sent

by fax / e-mail to the TFC by 3.30 pm. Only cheques / DDs drawn on

local banks/branches participating in the Clearing House will be

accepted.

Note :

1. Cash will not be accepted by any branch of SBI.

2. Investors should be kept informed by the Bank that the units will be

allotted at the sale price ruling on the date of receipt of applications by

TATA Financial Centre (TFC).

843. (For our Designated Branches in TATA Finance Centre Branch Locations)

From : To : State Bank of India TATA Finance Centre ___________________ ____________________ ___________________ ____________________ Pin : ______________ Pin : ________________ TATA Mutual Fund – Daily Sales Statement for Sale of Units Scheme Name : Date of Receipt : Sl. No.

Application No.

Name of Applicant Cheque No. Amount (Rs.)

1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. 14. 15. 16. 17. 18. 19. 20. Total Amount Received No. of Applications Previous Day Cumulative Total (X) Today’s Total (Y) Cumulative Total till date (Z) = (x) + (Y) [ 1st April to 31st March]

Place: Date: Signature of Branch Manager

85

Tie-up with Franklin Templeton MF ( vide CC

Private & Confidential

Circular no. MCS/D/07-08/01 dated 03.07.2007, CC letter no. MCS/08-09/24 dated 20th June 2008 and MCS/08-09/25 dated 19th June 2008))

The positive response by all the Circles to the SBI Infrastructure Fund NFO

clearly demonstrates that the Bank has once again successfully leveraged the

Branch network to mobilize substantial subscriptions for mutual fund

products. Going forward our tie-up with UTI MF is also proceeding on

aggressive lines.

2. It has now been decided to proceed to the next stage by expanding our

product offerings through further alliances. On the 16th May 2007, the Bank

entered into a tie-up with Tata AMC as advised vide our letter no. MCS/07-

08/29 dated 2nd June 2007. FRANKLIN TEMPLETON MF had approached

the Bank with a proposal to market its Mutual Funds through our branch

network. The offer of FRANKLIN TEMPLETON MF was duly considered

and accepted by the Bank. We now advise that the Bank has entered into a

distribution agreement with FRANKLIN TEMPLETON MF on the 27th June

2007 for a period of 3 years.

Details of the Distribution Arrangement:

3. The Distribution Agreement with FRANKLIN TEMPLETON MF covers the

marketing of select MF products only. Designated branches at centres where

Franklin Templeton MF has its branches (list enclosed – Annexure I) are

authorized to accept deposits (barring cash deposits) for experience in this

pilot launch, the list of centres and branches may be added / deleted and will

be advised to Circles on an ongoing basis.

4. Initially, our designated branches will market only the New Funds Offering

(NFOs) of FRANKLIN TEMPLETON MF in the manner outlined below

where Franklin Templeton MF has its branches (list enclosed – Annexure

II)

86

5. SBI Funds Management Ltd. is a group company and as such we shall


products. The preferential treatment will remain in the following manner:

SBI Mutual Fund products will be offered on sale at all the branches

throughout the country with no restriction.

The ACE shall first offer the SBI MF product to the customer, in the case of

competing products.

The sale of products offered by FRANKLIN TEMPLETON Mutual Funds

shall be restricted to branches in some selected centres only.

6. Accounting / Collection System : FRANKLIN TEMPLETON MF product

application forms will be accepted by our designated branches upto 2.00 p.m.

These applications accompanied by local cheques (no cash deposit) will be

listed as detailed in Annexure – II & II A and handed over to the local

Franklin Templeton Finance Centre (TFC) collecting agent by 2.30 p.m. and a

copy will be sent by e-mail / fax to the local TFC office by 3.30 p.m. A

detailed check list and operational procedure are enclosed at Annexure – II

and II A respectively.

88

Annexure – I

S. No.

Circle *

Branches *

1. Ahmedabad Ahmedabad Rajkot Vadodara Surat 2. Bangalore Bangalore Mangalore 3. Bhopal Indore Raipur 4. Bhubaneshwar Bhubhaneshwar 5. Chandigarh Chandigarh Ludhiana Jalandhar 6. Chennai Channai Combatore Madurai Salem Trichy 7. Delhi Delhi Jaipur Dehradun 8. Guwahati Guwahati 8. Hyderabad Hyderabad Vijayawada Vishakhapatnam 9. Kerala Kochi Thiruvananthpuram 10. Kolkata Kolkata 11. Lucknow Kanpur Lucknow Varanasi 12. Mumbai Mumbai Nasik Panaji Pune 13. Patna Patna

89

Annexure – II CHECK LIST FOR ACCEPTANCE OF APPLICATION

• Ensure that SBI’s ARN Code (12195), Branch Code, ACE code is affixed


Branch code no. must be stamped under “Sub Broker” code to ensure

payment of brokerage to branch. The ACE code is to be assigned by

the Branch internally for tracking purposes.







• PAN No. is furnished in the application form or in the absence of PAN,

Form No. 60/61 is enclosed if the investment is for Rs.50,000/- or

more.


• The cheques submitted alongwith the applications is a local cheque.

• NRI : In the case of applications received from non-residents, the


account from which the cheque is issued at the time of investment i.e.

NRE, NRO or Rupee DD issued from Abroad as per the instrument

tallies with the ‘Mode of Payment’ as stated in the application form.

• Minor : In the case of investment in the name of minor, Date of Birth


• With effect from 2nd July 2007 only those applications – purchase and

additional purchase for which there is either a PAN Card or a proof of

submission of application for PAN Card will be accepted.

90

Annexure “II-A”

Procedure to be followed by Branch (Exclusively for the business mobilized by State Bank of India) Day 1

Accept the sales applications with cheques upto 2.00 pm at their


Scrutinize all the applications and issue acknowledgement to the

investors over the counter, if the application is correctly filled in and

signed.

Enter the sales details in the Daily Sales Statement (DSS). This




Cheques should not be detached from the applications. Applications

and cheques received upto 2 pm will be collected by representatives of

FRANKLIN TEMPLETON branch before 2.30 pm same day along with

the original copy of DSS (copy enclosed). A copy of the DSS will be

sent by fax / e-mail to the FRANKLIN TEMPLETON branch by 3.30

pm. Only cheques / DDs drawn on local banks/branches

participating in the Clearing House will be accepted.

Note :

3. Cash will not be accepted by any branch of SBI.

4. Investors should be kept informed by the Bank that the units will be

allotted at the sale price ruling on the date of receipt of applications by

FRANKLIN TEMPLETON branch.

5. (For our Designated Branches in FRANKLIN TEMPLETON Branch

Locations)

91 From : To : State Bank of India The Manager, ___________________ FRANKLIN TEMPLETON Branch ___________________ ____________________ Pin : ______________ Pin : ________________ FRANKLIN TEMPLETON Mutual Fund – Daily Sales Statement for Sale of Units Scheme Name : Date of Receipt : Sl. No.

Application No.

Name of Applicant Cheque No. Amount (Rs.)

1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. 14. 15. 16. 17. 18. 19. 20. Total Amount Received No. of Applications Previous Day Cumulative Total (X) Today’s Total (Y) Cumulative Total till date (Z) = (x) + (Y) [ 1st April to 31st March]

Place : Date : Signature of Branch Manager

92

Tie-up with Fidelity MF

(vide CC Private & Confidential Circular no. MCS/07-08/09 dated

22.08.2007)

FIDELITY MUTUAL FUND had approached the Bank with a proposal to

market its Mutual Funds through our branch network. The offer of FIDELITY

MUTUAL FUND was duly considered and accepted by the Bank. We now

advise that the Bank has entered into a distribution agreement with FIDELITY

MUTUAL FUND on the 16th Aug 2007 for a period of 3 years.

Details of the Distribution Agreement:

2. The Distribution Agreement with FIDELITY MUTUAL FUND covers the

marketing of select MF products only. Designated branches at centres where

Fidelity Mutual Fund has its branches (list enclosed-Annexure I) are

authorized to accept deposits (barring cash deposits) for select MF products of

FIDELITY MUTUAL FUND. Depending upon our experience in this pilot

launch, the list of centres and branches may be added /deleted and will be

advised to Circles on an ongoing basis.

3. SBI Funds Management Ltd. is a group company and as such we shall


products .The preferential treatment will remain in the following manner:

1. SBI Mutual Fund products will be offered on sale at all

the branches throughout the country with no

restriction.

2. The ACE shall first offer the SBI MF product to the

customer, in the case of competing products.

3. The sale of products offered by Fidelity Mutual Fund

shall be restricted to branches in some selected centres

only.

5. Accounting/Collection System: FIDELITY MUTUAL FUND product

application forms will be accepted by our designated branches upto

932.00 p.m. These applications accompanied by local cheques

(no cash deposit) will be listed as detailed in Annexures–II & II A and

handed over to the local branch collecting agent of Fidelity MF by 2.30

pm and a copy will be sent by e-mail/fax to the local branch of Fidelity

MF by 3.30 pm. A detailed check list and operational procedure are

enclosed at Annexures –II and II-A respectively.

Annexure –I

S. No Circle*

Branches of Fidelity MF*

1. Ahmedabad Ahmedabad 2. Bangalore Bangalore 3. Chandigarh Chandigarh 4. Chennai Chennai 5. Delhi Delhi 6. Hyderabad Hyderabad 7. Kolkata Kolkata 8. Lucknow Lucknow 9. Mumbai Mumbai Pune

* There are presently no. branches of Fidelity Mutual Fund in the

remaining 5 Circles

94

Annexure-II


• Ensure that SBI’s ARN Code (12195), Branch code, ACE code is

affixed in the relevant boxes in the top portion of the application

form. The Branch code no. must be stamped under “Sub Broker”

code to ensure payment of brokerage to branch.The ACE code is

to be assigned by the Branch internally for tracking purposes.







6 A. PAN No. is furnished in the application form or in the absence of

PAN, Form no. 60/61 is enclosed. With effect from 2nd July 2007 only

those applications - purchase and additional purchase for which there is

either a PAN Card or a proof of submission of application for PAN Card

will be accepted


• The cheque submitted alongwith the applications is a local

cheque.

• NRI: In the case of applications received from non-residents,

the ‘Mode of Payment’ is stated in the application. Further, the

bank account from which the cheque is issued at the time of

investment i.e. NRE, NRO or Rupee DD issued from Abroad as

per the instrument tallies with the ‘Mode of Payment’ as stated

in the application form.

• Minor: In the case of investment in the name of minor, Date of

Birth and guardian’s name is present.

96 Annexure “II-A”

Procedure to be followed by Branch (Exclusively for the business mobilised by State Bank of India) Day 1

e) Accept the sales applications with cheque upto 2.00 pm at their


f) Scrutinise all the applications and issue acknowledgement to the

investors over the counter, if the application is correctly filled in

and signed.

g) Enter the sales details in the Daily Sales Statement (DSS). This




h) Cheques should not be detached from the applications.

Applications and cheques received upto 2 pm will be collected by

representatives of Fidelity MF Branch before 2.30 pm same day

along with the original copy of DSS (copy enclosed). A copy of the

DSS will be sent by Fax/e-mail to the local branch of Fidelity MF by

3.30 pm. Only Cheques/DDs drawn on local banks/branches

participating in the Clearing House will be accepted.

Note:

Cash will not be accepted by any branch of SBI.

Investors should be kept informed by the Bank that the units will be allotted

at the sale price ruling on the date of receipt of applications by Fidelity MF

Branch

97(For our Designated Branches in Fidelity MF Branch Locations)

From : To : State Bank of India The Manager ______________________________ Fidelity MF Branch _________________________ ________________________ ____________ Pin : ________ ______________ Pin :_________

Fidelity Mutual Fund – Daily Sales Statement for Sale of Units Scheme Name :

Date of Receipt : ____________

S.No. Application No.

Name of Applicant Cheque no. Amount (Rs.)

1.

2.

3.

4.

5.

6.

7.

8.

9.

10.

11.

12.

13.

14.

15.

Total Amount Received

No. of Applications Previous Day Cumulative Total (X) Today’s Total (Y) Cumulative Total till Date (Z) = (X) + (Y) [1st April to 31st March]

Place: Date: Signature of Branch Manager

98 Anti Money Laundering

& KYC guidelines (vide CC Circular no. MCS/07-

08/ dated 3rd July 2007 and MCS/07-08/19 dated 21.01.2008)

As per Securities and Exchange Board of India (SEBI) Circular dated April 27,

2007 and letter dated June 25, 2007, Permanent Account Number (PAN) has

been made the sole identification number for all participants transacting in

the securities market, irrespective of the amount of transaction, effective July

2, 2007. The submission of PAN card copy (along with original for verification

which will be returned across the counter) is therefore mandatory for all

existing as well as prospective investors (including joint applicants / holders,

guardians and NRIs) for investing with mutual funds from this date. The

copy of PAN card is required to be verified with the original. The staff, who is

verifying, will sign and affix ARN code No. 12195 of the Bank on the copy of

the PAN Card. The copy of the PAN Card attested by a Bank

Manager/Notary will also be accepted as verified.

2. Investors not having a PAN need to apply for PAN immediately and

applications for investments in Mutual Funds should be accompanied with

evidence of having applied for PAN (copy of Form 49A) till such time PAN is

allotted. If the investment is for a value of Rs.50,000 or more, this should also

be accompanied by KYC certificate issued by CVL Ltd. for each such

transaction.

3. All investors including guardians and power of attorney holders need to

complete ‘Know Your Customer’ (KYC) formalities by completing a KYC

application form along with photograph, PAN card and Proof of Address for

individuals, or Corporate Documents for bodies corporate, in accordance with

the Prevention of Money-Laundering Act, 2002 (PMLA), Rules issued there

under and the guidelines / circulars issued by SEBI thereto.

4. Effective from 2nd July 2007, all transactions without PAN

verification/evidence of having applied for PAN for all holders, including

guardians, are liable to be rejected. As these requirements are mandatory, all

99investors in Mutual Funds may please be advised to complete these

formalities immediately.

5. In view of the above, the following changes have been made w.e.f. 2.7.2007:

(i) For transactions (fresh purchases & additional purchases) below Rs.

50,000/-)

a) Copy of PAN Card, OR

b) Evidence of having applied for PAN (49-A ) from an authorized entity.

(ii) For transactions 9 fresh purchases & additional purchases ) for Rs.

50,000/- and above

a) Copy of PAN Card, OR

b) Evidence of having applied for PAN (49-A ) from an authorized entity.

c) KYC certificate issued by CVL Ltd., a subsidiary of CSDL.

However, the evidence of having applied for PAN from an authorized entity

will be accepted only upto December 31 , 2007.

100

Know Your Customer(KYC) Norms With effect from 1st Feb 08

In order to comply with regulatory provisions under the Prevention of Money

Laundering Act 2002 and rules issued thereunder as well as related

guidelines/circulars issued by SEBI, KYC formalities are required to be

completed for all Mutual Fund Unit Holders, including Guardians and Power

of Attorney holders, for any investment (whether new or additional purchase

or SIP) of Rs. 50,000 or more in mutual funds effective from 1st February,

2008.

2. For the convenience of investors in mutual funds, all the mutual fund

companies have made special arrangements with CDSL Ventures Ltd. (CVL),

a wholly owned subsidiary of Central Depository Services (India) Ltd.

(CDSL). Instead of repeatedly providing the requisite documents to different

mutual funds in which one would like to invest, CVL, will carry out the

process of KYC and issue an acknowledgement, on behalf of all Mutual

Funds.

3. Investors have to provide the relevant documents and information ONLY

ONCE for complying with KYC norms. After that, investors may invest in the

schemes of all mutual funds by merely attaching a copy of the KYC

acknowledgement slip with the application form / transaction slip when

investing for the first time in every folio (Post KYC) in each Mutual Fund,

without the necessity of repeatedly submitting the KYC documents. This

facility is being provided absolutely FREE OF COST to the investors.

4. All our customers who are also mutual fund investors may please be

advised to complete the formalities by submitting the enclosed KYC

application form and relevant documents at the Points of Services (POS). To

start with, these POS will be the selected branches / offices of mutual funds,

registrars and some of our selected branches. The application forms for

complying with KYC norms will be available from these POS. Investors will

have to provide the following documents in order to be KYC Compliant:

101(a) Proof of Identity (b) Proof of Address

(c) PAN Card

(d) Photograph

The originals of these documents along with a copy each , are to be presented

at the Points of Service and the originals will be returned after verification.

Alternatively, investors can also provide an attested true copy of the relevant

documents. Attestation could be done by Notary Public/ Gazetted Officer/

our Branch Manager of a Scheduled Commercial Bank.

5. In this context, we enclose the following for counselling our customers who

are also investors in various Mutual Fund schemes:

a. List of Documents required to complete the process of KYC

b. List of Points of Service where KYC process can be undertaken

c. FAQs on KYC norms

d. Application Form for Individuals

e. Application Form for Non-Individuals

We reiterate that the process of KYC Compliance is mandatory w.e.f Feb 01,

2008.

6. The application forms at Para 5 above can also be downloaded from the

websites of AMFI ( www.amfiindia.com ) and CDSL (www.cdslindia.com) .

7. Any subsequent changes in address or other details could be intimated by

the investors, to any of the POS (with relevant documentary evidence) and the

same will be updated in all the mutual funds where the investor has invested.

8. All our customers who are also mutual fund investors may please be

advised accordingly.

102

a. List of Documents required to complete the process of KYC

Prescribed Documents (PAN Mandatory)

For Individual Investors Proof of Identity: 1. Photo PAN Card 2. In case of Non Photo PAN Card in addition to copy of PAN Card any one of the following : Driving License /Passport copy / Voter ID /Bank Photo Pass Book. Proof of Address (any one of the following): 1. Latest Telephone Bill: Landline/Mobile (not more than 3 months prior to the date of application). 2. Latest Electricity Bill (not more than 3 months prior to the date of application). 3. Passport copy. 4. Latest Bank Passbook/Bank Account Statement (not more than 3 months prior to the date of application) . 5. Latest Demat Account statement (not more than 3 months prior to the date of application). 6. Voter ID. 7. Driving License. 8. Ration Card. 9. Rent Agreement. For Overseas Address of NRIs: Overseas Bank Account Statement (not more than 3 months prior to the date of application). Any other document duly certified by local authority in the country of residence. In case the documents are in any language other than English the same must be translated to English and certified by Government Authority in country of residence or by the Indian Embassy. In case investors provide more than one address, proofs of both the addresses need to be provided. For HUF Units can only be held in the name of Karta on behalf of the HUF AMFI Proof of Identity (any one of the following): 1.Copy of PAN Card of the HUF. Proof of address (HUF) 1. Latest Bank Passbook (not more than 3 months prior to the date of application). 2. Bank account statement (not more than 3 months prior to the date of application). Alternately, any of the documents listed for proof of address for an individual can be provided by the karta. Non individuals (PAN Mandatory) Companies / Bodies Corporate (Certified copy of the

103following): 1. Certificate of incorporation. 2. Memorandum & Articles of Association. 3. Resolution of the Board of Directors authorizing investment in mutual funds. 4. Power of Attorney granted to its managers, officers or employees to transact business on its behalf (Authorised Signatories List). Partnership firms (Certified copy of the following): 1.Certificates of Registration, in case of registered Partnership Firms. 2. Any other officially valid documents in respect of holding a power of attorney to transact (Authorised Signatories List and resolution / authority to invest). Trusts, foundations, NGO’s Charitable Bodies, Clubs/Mutual Fund Schemes (Certified copy of the following) : 1. Certificate of Registration, in case of registered Trusts. 2. Any other valid documents in respect of holding a power of attorney to transact (Authorised Signatories List and resolution / authority to invest)

(p) Offer Document of the Mutual Fund Scheme.

104FREQUENTLY ASKED QUESTIONS ON KYC

What is KYC?

KYC is an acronym for “Know your Client”, a term commonly used for Client Identification Process. SEBI has prescribed certain requirements relating to KYC norms for Financial Institutions and Financial Intermediaries including Mutual Funds to ‘know’ their Clients. This would be in the form of verification of identity and address, providing information of financial status, occupation and such other demographic information. Applicant must be KYC compliant while investing with any SEBI registered Mutual Fund.

What are the KYC requirements for a Mutual Fund Investor?

Individual investors will have to produce his Proof of identity (Photo PAN card copy or PAN card copy and copy of the passport, driving license etc.) and Proof of Address (any valid documents listed in section B of the KYC Application Form for Individuals). Non –Individual Investors will have to produce certain documents pertaining to its constitution/registration to fulfill the KYC process. A list of Mandatory Certified Documents to be submitted can be found in section C of the KYC application form for Non-Individual Investors. .

Where and how does one get to be KYC Compliant? Does the investor have to repeat the KYC process with every Mutual Fund?

The Mutual Fund Industry has appointed CDSL Ventures Limited (“CDSL”), a wholly owned subsidiary of Central Depository Services (India) Limited, to carry out the KYC compliance procedure. CVL through its Points of Service (POS) will accept KYC Application Forms, verify documents and provide the KYC Acknowledgement (across the counter on a best effort basis). The list of PoS will be displayed on the websites of Mutual Funds, CDSL and AMFI. Once the KYC is duly completed in all repects, the investor needs to produce a copy of the acknowledgement to the fund where the investor desires to invest. There is no need to repeat the KYC individually for each mutual fund,

What is a KYC Application Form?

A KYC Application Form has been designed for Individual and Non-Individual Investors separately. The soft copy of these KYC forms will be made available on the website of all mutual funds, AMFI and Central Depository Services (India) Limited (CDSL). You may also approach your distributor for a form. It is important to read the instructions printed on the KYC Application Form while filling-up the form.

105Should the investor visit PoS personally to obtain KYC Compliance?

No. If the investor is not in a position to visit PoS personally, the KYC Application Form along with the necessary documents (including originals if the copies are not attested) can be sent through the distributor or representative, who can arrange to fulfill the KYC obligation and obtain the KYC Acknowledgement through any of the PoS.

From what date is it mandatory for an investor to be KYC Compliant?

With effect from 01 February 2008, any investor investing Rs. 50,000 and above would be required to be KYC compliant.

To whom is a KYC applicable? Is there any exemption?

Currently, all investors (Individuals or Non Individuals) who wish to make an investment of Rs. 50,000 or above will be required to be KYC Compliant. This would also apply to new Systematic Investment Plan (SIP) transactions on or after 01 February 2008, if each installment of value greater than or equal to Rs.50,000. Please find the list of personnel who are required to be KYC compliant: Joint Holders: Joint holders (including first, second and third if any, are required) to be individually KYC compliant before they can invest with any Mutual Fund. . e.g. in case of three joint holders, all holders need to be KYC compliant and copies of each holder’s KYC Acknowledgement must be attached to the investment application form with any Mutual Fund. Minors: In case of investments in respect of a Minor, the Guardian should be KYC compliant and attach their KYC Acknowledgement while investing in the name of the minor. The Minor, upon attaining majority, should immediately apply for KYC compliance in his/her own capacity and intimate the concerned Mutual Fund(s), in order to be able to transact further in his/her own capacity. Power of Attorney (PoA) Holder: Investors desirous of investing through a PoA must note that the KYC compliance requirements are mandatory for both the PoA issuer (i.e. Investor) and the Attorney (i.e. the holder of PoA), both of whom should be KYC compliant in their independent capacity and attach their respective KYC Acknowledgements while investing. Financiers will have to be KYC compliant at the time of Lien Marking. For transmission (In case of death of the unit holder): If the deceased is the sole

applicant, the claimant should submit his/her KYC Acknowledgement along with the other relevant documents to effect the transmission in his/her favour

106How does the investor transact in Mutual Fund after completing the KYC process?

Investors must attach their KYC Acknowledgement along with the Investment Application Form(s) / Transaction Slip(s) while investing for the first time in every folio. Applications Forms / Transaction Slips not accompanied by KYC Acknowledgement are liable to be rejected by the Mutual Funds. If you do not obtain a KYC Acknowledgement, you will not be able to invest Rs. 50,000 or more in a Mutual Fund.

In case of existing investors when and how will the KYC norms be introduced?

KYC norms are applicable to all investors. It is in the interest of all Investors to obtain KYC Acknowledgement and submit it to the Mutual Fund to avoid any inconvenience in future.

Once an account is opened with a Mutual Fund by 1 st, 2 nd & 3 rd holder by completing the necessary formalities and the investor’s return to make a fresh investment, do they need to furnish the necessary documents again?

Investors must attach their KYC Acknowledgement along with the Investment Application Form(s) / Transaction Slip(s) while investing for the first time in every folio.

What are the consequences of KYC cancellation/rejection?

In the event of any KYC Application Form being found deficient for lack of information / insufficiency of mandatory documentation, further investments will not be permitted.

Does the KYC Acknowledgement have an expiry date?

No. Once the KYC Acknowledgement is obtained and informed to a Mutual Fund, it will be registered against the folio and quoted in all future account statements. The same will exist in perpetuity, unless cancelled by CVL.

What happens if I have multiple folios/ accounts with a Mutual Fund?

You can inform the Mutual Fund to update the KYC Acknowledgement against all the folios/accounts you have with it. However, each of the holders in these folios/accounts should be KYC Compliant.

Is there a charge I need to pay to get myself KYC Compliant?

Currently, KYC is being done free of cost.

107

I am an NRI residing outside India. How do I get myself KYC Compliant?

The soft copy of these KYC forms will be made available on the website of all Mutual Funds, AMFI and Central Depository Services (India) Limited (CDSL). You may also approach your distributor for a form. The same duly completed along with the necessary attested documents can be submitted at the PoS or mailed to your representative or Distributor who can complete the KYC formalities for you.

Are there any special requirements for an NRI?

Yes. In addition to the certified true copy of the passport, certified true copy of the overseas address and permanent address will also be required. If any of the documents (including attestations/ certifications) towards proof of identity or address is in a foreign language, they have to be translated to English for submission. The documents can be attested, by the Consulate office or overseas branches of scheduled commercial banks registered in India

Is there any special requirement for a PIO (Person of Indian Origin)?

The requirements applicable to an NRI will also apply to a PIO. However, additionally, he will need to submit a certified true copy of the PIO Card.

What about Minor becoming Major?

Upon a Minor attaining the age of majority (i.e. on completing 18 years of age), he/she must be KYC Compliant and have KYC Acknowledgement of their own. The same should be informed to the Mutual Fund where he/she holds an investment, along with other details such as the Bank Details, Signature, etc as per the present requirements of such Mutual Fund.

Whom do I inform about change of Name/Address/Status/Signature etc?

You should intimate your change of Name / Address / Status /Signature etc. to any convenient PoS. You need to quote / submit a copy of your KYC Acknowledgement, and proof (in case of new address). You should provide for at least 7 days for the change of address to take effect with all the Mutual Funds with whom you are invested. Please note that you should not write to the Mutual Fund or its Registrar for the change of address (unless as a designated PoS). The specified form can be obtained from the AMFI/Mutual Fund website. All details of the holders in the Mutual Fund records will be replaced by the address details available in the CVL record.

108If I am already providing my PAN/PAN Proof for my investment in Mutual Fund. Is that not sufficient for meeting the requirement of KYC?

The requirement of providing your PAN along with proof is sufficient for proof of identity. However, the current requirement for KYC requires the Mutual Fund to verify identity, address as well as obtain further information about the investor.

Why do I need to give my Income details? How can I be sure that it will not be misused?

As per PMLA, it is mandatory for Mutual Funds to obtain financial status details from its investors. It is for this reason that the Income details are sought. Please note that no proof / income documents are required. The information given you in the KYC Application form will be treated in a confidential manner and used for regulatory purposes if called for.

Do I need to inform about my change of Income status?

Yes. I you find an increased/decrease in your income, which would effectively, changed the income bracket that you have declared in the KYC Application form, you should apply to any convenient PoS in the specified form. No proof is needed.

Can an investor give a COA (Change of Address) along with redemption request?

The redemption transaction accompanied by a KYC Acknowledgement form is likely to be processed without effecting the change of address request.

Is the KYC Acknowledgement a separate form or is it a part of the Mutual Fund application. Which of the forms require being time-stamped?

KYC Acknowledgement will be done on the photocopy of the form. Time stamping is not required on the KYC Acknowledgement.

What do I do once I have received my KYC Acknowledgement?

Once the investor is KYC compliant, it will be required to intimate his KYC details to all the Mutual Funds with whom it has investments. The same will be updated in the records of the Mutual Fund.

For signature difference in investor request, Mutual Funds generally ask for a banker attestation. Since a signature is not available with identity proof, will you still insist on banker attestation for signature difference?

Signature verification is done by Mutual Funds to protect an investor from losses. As such, Mutual Funds may follow extra due-diligence if signatures

109are not matching, such as getting Bank attestation for such transactions. This could be independent of the KYC procedure.

What if I have already completed the earlier KYC (MIN) procedure with CVL?

Scenario 1

If the KYC (MIN) was completed by submitting the PAN, the Acknowledgement obtained at that time can be enclosed along with the Investment Application Form(s) / Transaction Slip(s) while investing for the first time in every folio as the PAN number will be stated on the said acknowledgement. You need not repeat the process now.

Scenario 2

If the KYC (MIN) was completed without submitting the PAN but with other proof of identity documents, for such cases, CVL will send out a communication to the respective investors requesting them to submit self attested copy of PAN card for KYC compliance.

110d. Application Form for Individuals

112

e) Application Form for Non Individuals

114

List of Point of Services (POS) Location Name and Address Contact Person Tel. No. / Fax No.

AGARTALA BAJAJ CAPITAL INVESTOR SERVICES LIMITED 38, AKHAURA ROAD PS. WEST AGARTALA AGARTALA AGARTALA - 799 001 TRIPURA

ACHINTAY KUMAR BHUIYA

0381-2319823

AGRA BAJAJ CAPITAL INVESTOR SERVICES LIMITED SHOP NO. 110, GROUND FLOOR, BLOCK NO. 27/2/4, NEAR HOTEL PANCHRATTAN, SANJAY PLACE AGRA - 282 002 UTTAR PRADESH

DINESH SINGH YADAV

0562-2521448/4000953

AHMEDABAD BAJAJ CAPITAL INVESTOR SERVICES LIMITED 2-L,AKIK',OPP.LIONS HALL MITHAKHALI SIX ROAD, NR.NALANDA HOTEL ELLISBRIDGE AHMEDABAD - 380 006 GUJARAT

MR.AMIT PATEL 079-30072782

AHMEDABAD BAJAJ CAPITAL INVESTOR SERVICES LIMITED 101,SILLICON VALLEY NR.SHIVRANJINI CHAR RASTA SATELLITE ROAD AHMEDABAD - 380 015 GUJARAT

MR.HITESH SHAH 079-30006541

AHMEDABAD INFRASTRUCTURE MR.SHAILAM DAVE 079-30072013

115LEASING & FINANCIAL SERVICES LTD. 403-404 RAINDROP BUILDING OPP.CARGO MOTORS, C.G.ROAD, AHMEDABAD - 380006 GUJARAT

AHMEDABAD

INFRASTRUCTURE LEASING & FINANCIAL SERVICES LTD. 403-404 RAINDROP BUILDING OPP CARGO MOTORS C G ROAD AHMEDABAD - 380-006 GUJARAT

MR. HASIT DESAI

079-30072013

AHMEDABAD KARVY COMPUTERSHARE PVT. LTD. 307, SHAIL BLDGS, OFF: C. G. ROAD OPP. MADHUSUDHAN HOUSE NR. NAVRANGPURA TEL. EXCHANGE AHMEDABAD - 380 006 GUJARAT

MR. EDWARD 079-26402967 26400527

AHMEDABAD DEUTSCHE INVESTOR SERVICES PVT. LTD. GROUND FLOOR M-SQUARE BLDG C G ROAD AHMEDABAD GUJARAT

MAULIK A SHAH 9879026229

AHMEDABAD INTEGRATED ENTERPRISES (INDIA)

MT. G. R. BALAJI 079-26443289/7825

116LTD. B-14 CAPITAL COMML CENTRE, I FLOOR, NEXT TO SANYAS ASHRAM ASHRAM ROAD AHMEDABAD - 380 009 GUJARAT

AHMEDABAD KOTAK SECURITIES LTD. 207 & 208, SAKAR II ELLISBRIDGE CRONER ASHRAM ROAD AHMEDABAD - 380 006 GUJARAT

VISHAL SHAH 079- 26587276/ 77

Ahmedabad COMPUTER AGE MANAGEMENT SERVICES PVT. LTD. 402-406, 4TH FLR, DEVPATH BLDG. BEHIND LAL BUNGALOW Ahmedabad - 380006 Gujarat

MUKESH SHAH 079-30082468

AJMER BAJAJ CAPITAL INVESTOR SERVICES LIMITED GROUND FLOOR, SHOP NO. 12, AJMER TOWER, AJMER - 305001 RAJASTHAN

AMIT SINGH VERMA 0145-2621312/3208899

ALLAHABAD BAJAJ CAPITAL INVESTOR SERVICES LIMITED SHOP NO.F-5, INDIRA BHAWAN, CIVIL LINES, ALLAHABAD - 211001 UTTAR PRADESH

RISHI CHOPRA 0532-2605648 3207089

117ALLAHABAD KARVY

COMPUTERSHARE PVT. LTD. RSA TOWERS, 2ND FLR, ABOVE SONY TV SHOWROOM 57, S P MARG, CIVIL LINES ALLAHABAD - 211 001 UTTAR PRADESH

MR SHISHIR SRIVASTAVA

0532-3294280/81

ASANSOL BAJAJ CAPITAL INVESTOR SERVICES LIMITED 1ST FLOOR 76, G T ROAD NEAR BANGHAPANCHIL ASANSOL - 713303 WEST BENGAL

SANJIT SEN 0341-2216180

BANGALORE BAJAJ CAPITAL INVESTOR SERVICES LIMITED UNIT NO. 104-107,FIRST FLOOR A WING, MITTAL TOWERS, M.G. ROAD BANGALORE - 560 001 KARNATAKA

PRATEEK SETH A.V.P.

080 - 23564156

BANGALORE BAJAJ CAPITAL INVESTOR SERVICES LIMITED NO.197, SAMPIGE ROAD NEAR 11TH CROSS, (ABOVE KARNATAKA BANK) MALLESHWARAM BANGALORE - 560 003 KARNATAKA

ANANDAGOPAL .V 23564156

BANGALORE BAJAJ CAPITAL INVESTOR SERVICES LIMITED 293/1, 17TH MAIN ROAD IIIRD BLOCK RAJAJI NAGAR BANGALORE - 560 010 KARNATAKA

MR. ASHWIN KUMAR .S

23387896

BANGALORE BAJAJ CAPITAL MS. VANITHA C.K 26530302

118INVESTOR SERVICES LIMITED NO. 4, LAKSHMI MANSION 81/B, 8TH MAIN ROAD, 3RD BLOCK JAYA NAGAR BANGALORE - 560 011 KARNATAKA

BANGALORE BAJAJ CAPITAL INVESTOR SERVICES LIMITED RAHEJA ARCADE, 1ST FLOOR NO.122, KORAMANGALA BANGALORE - 560 034 KARNATAKA

MR.LOHIT T 25635596

BANGALORE BAJAJ CAPITAL INVESTOR SERVICES LIMITED 759, SHRI JAYALAKSHMI NIVASA 100 FT ROAD, INDIRA NAGAR, OPP SBI PERSONAL BANK INDIRA NAGAR BANGALORE - 560 038 KARNATAKA

MR. ASHWIN KUMAR S

25212365

BANGALORE BAJAJ CAPITAL INVESTOR SERVICES LIMITED NO.81, 20TH MAIN 18TH CROSS, VIJAYA NAGAR BANGALORE - 560 040 KARNATAKA

MR.RAMESH R - ACRM 23140803

BANGALORE KARVY COMPUTERSHARE PVT. LTD. 134/135, MADHAV DARSHAN WAGHAWADI ROAD BANGALORE - 364 001 GUJARAT

MR. MEHUL 0278-2525005/06

119BANGALORE KARVY

COMPUTERSHARE PVT. LTD. NO 51/2 TKN COMPLEX, OPP TO NATIONAL COLLEGE, BASAVANGUDI BANGALORE - 560 004 KARNATAKA

MR.NATARAJAN 080-26613400

BANGALORE KARVY COMPUTERSHARE PVT. LTD. NO. 54/25, 1ST FLOOR SURYA BUILDING, RATNA AVENUE, RICHMOND ROAD BANGALORE - 560 025 KARNATAKA

MR. RAGHU 080-25320085 32008452

BANGALORE INFRASTRUCTURE LEASING & FINANCIAL SERVICES LTD. STOCK EXCHANGE TOWERS 51, 1ST CROSS, J C ROAD, BANGALORE - 560 027 KARNATAKA

MR. SESHADRI IYENGAR

080-22995646/48/49

BANGALORE COMPUTER AGE MANAGEMENT SERVICES PVT. LTD. TRADE CENTRE, 1ST FLOOR, 45 DIKENSEN ROAD NEXT TO MANIPAL CENTRE BANGALORE - 560 042 KARNATAKA

GIRIJA RAMAN 080-30574709

BANGALORE KOTAK SECURITIES LTD. UMIYA LANDMARK, 1ST FLOOR 10/7, LAVELLE ROAD BANGALORE - 560 001 KARNATAKA

P MURLI 080-66128024

BANGALORE INTEGRATED ENTERPRISES (INDIA)

MR. SRINIVASAN 080-23446386/1470

120LTD. NO. 12, RAMANUJA PLAZA GROUND FLOOR, 5TH CROSS MALLESWARAM BANGALORE - 560 003 KARNATAKA

BANGALORE DEUTSCHE INVESTOR SERVICES PVT. LTD. NO. 104, PRESTIGE MERIDIAN - 1 NO: 29 M G ROAD BANGALORE - 560 001 KARNATAKA

DATTA WADAVLI

BHAGALPUR BAJAJ CAPITAL INVESTOR SERVICES LIMITED 2ND FLOOR CHANDRALOK COMPLEX NEAR GHANTAGHAR BHAGALPUR - 812001 BIHAR

SUSHIL KUMAR SINGH

9430204791

BHILAI BAJAJ CAPITAL INVESTOR SERVICES LIMITED 2/3 NEHRU PARISOR OPP. IDBI BANK NEHRU NAGAR BHILAI - 490020 CHATTISGARH

SANJEEV KUMAR GUPTA

0788-4050509

BHOPAL BAJAJ CAPITAL INVESTOR SERVICES LIMITED SHOP NO.6, FIRST FLOOR, JYOTI CINEMA COMPLEX, M.P.NAGAR, ZONE-I, BHOPAL - 462001 MADHA PRADESH

MANISH NAHARE 0755-2571342 4229297

BHOPAL KARVY COMPUTERSHARE PVT. LTD. KAY KAY BUSINESS CENTRE 133, ZONE 1,

MR. SACHIN RATHORE

0755-3010725/26/27/28

121M. P. NAGAR BHOPAL - 462 011 MADHA PRADESH

BHUBANESWAR KARVY COMPUTERSHARE PVT. LTD. 624, SAHID NAGAR, 1ST FLOOR, BHUBANESWAR - 751 007 ORISA

MR. PRATAP SAHOO 0674-2547531/32/33

BHUBANESWAR COMPUTER AGE MANAGEMENT SERVICES PVT. LTD. 101/ 5, JANPATH, UNIT III NEAR HOTEL SWASTI BHUBANESWAR - 751 001 ORISA

SUBRAT MISHRA

BHUBANESWAR BAJAJ CAPITAL INVESTOR SERVICES LIMITED METRO PLAZA 2ND FLOOR A-410, SAHID NAGAR BHUBANESWAR - 751007 ORISA

CHANDAN MOHAPATRA

0674-6510271

CHANDIGARH BAJAJ CAPITAL INVESTOR SERVICES LIMITED S.C.O - 341-342, FIRST FLOOR SEC-35 B CHANDIGARH - 160009 CHANDIGARH

LALIT MALHOTRA 0172-2621865 5089190

CHANDIGARH COMPUTER AGE MANAGEMENT SERVICES PVT. LTD. DEEPAK TOWERS SCO 154-155, 1ST FLOOR SECTOR 17-C CHANDIGARH - 160

RAMESH BHATIA

122017 PUNJAB

CHANDIGARH INFRASTRUCTURE LEASING & FINANCIAL SERVICES LTD. SCO - 14 & 15 (FIRST FLOOR) SECTOR- 9 - D MADHYA MARG CHANDIGARH - 160009 CHANDIGARH

SANJAY DABAS 0172-741483

CHANDIGARH INFRASTRUCTURE LEASING & FINANCIAL SERVICES LTD. S.C.O 14-15 1ST FLOOR SECTOR 9-D MADHYA MARG CHANDIGARH - 160 017 CHANDIGARH

MR. PAWAN KHANDELWAL

0172-2741483

CHANDIGARH KARVY COMPUTERSHARE PVT. LTD. SCO-371-372, 1 ST FLOOR ABOVE HDFC BANK SECTOR 35 B CHANDIGARH - 160 022 CHANDIGARH

MS. PRIYA SHARMA 0172-5071726/27/28

CHENNAI KARVY COMPUTERSHARE PVT. LTD. F 11, 1ST FLOOR, AKSHYA PLAZA OPP. CHIEF CITY METROPOLITAL COURT NO. 108, ADHITHANAR SALAI, EGMORE CHENNAI - 600 002 TAMILNADU

MR. N V V PRASAD 044-42028512/13 28277383

123

CHENNAI INFRASTRUCTURE LEASING & FINANCIAL SERVICES LTD. "RAMKOTI" NO. 13-2, 2ND FLOOR FIRST MAIN ROAD, GANDHI NAGAR, ADYAR CHENNAI - 600 020 TAMILNADU

MS. SHOBA IYER 044-45504364/68

CHENNAI INFRASTRUCTURE LEASING & FINANCIAL SERVICES LTD. "RAMKOTI", NO.13/2, 2ND FLOOR FIRST MAIN ROAD GANDHI NAGAR CHENNAI - 600 020 TAMILNADU

PRAKASH SWAMINATHAN

45504364 - 8

CHENNAI COMPUTER AGE MANAGEMENT SERVICES PVT. LTD. GROUND FLR, NO.178/10, KODAMBAKKAM HIGH ROAD OPP. HOTEL PALMGROVE NUNGAMBAKKAM CHENNAI - 600 034 TAMILNADU

G SATHYANARAYANAN

044-39115563

CHENNAI DEUTSCHE INVESTOR SERVICES PVT. LTD. NEW 193, OLD 141, 1ST FLOOR MOUNT RD, NEXT TO RAHEJA TOWER, OPP. ROYELLA TOWER, CHENNAI TAMIL NADU

RAMYA S P 9444123024 044 - 42630104

CHENNAI INTEGRATED ENTERPRISES (INDIA) LTD.

MS. SAVITHRI 044-28140801/02/03

12442/1 MOTILAL STREET T NAGAR CHENNAI - 600 017 TAMIL NADU

CHENNAI KOTAK SECURITIES LTD. GRR BUSINESS CENTRE NEW NO.36, OLD NO. 21 VAIDYARAM STREET, T. NAGAR CHENNAI - 600 017 TAMIL NADU

RAMA SRINIVASAN 044- 24331697 24312041

CHENNAI BAJAJ CAPITAL INVESTOR SERVICES LIMITED III FLOOR, WELLINGTON PLAZA 90, ANNA SALAI CHENNAI - 600 002 TAMILNADU

GEORGE THOMAS - SR. V.P.

23451234

CHENNAI BAJAJ CAPITAL INVESTOR SERVICES LIMITED NO. 7 R.K. MUTT ROAD MYLAPORE CHENNAI - 600 004 TAMILNADU

P.BHARATHI 23451241

CHENNAI BAJAJ CAPITAL INVESTOR SERVICES LIMITED NEW NO.29, OLD NO.12 BURKIT ROAD, T.NAGAR CHENNAI - 600 017 TAMILNADU

R.SEKAR - AREA MANAGER

23451230

CHENNAI BAJAJ CAPITAL INVESTOR SERVICES LIMITED K.R. BUILDINGS NO.12, L.B. ROAD, ADYAR CHENNAI - 600 020 TAMILNADU

G.D. SIVA KUMAR- AREA MANAGER

23451232

CHENNAI BAJAJ CAPITAL A.S.SRINIVASALU - 23451243

125INVESTOR SERVICES LIMITED W111, FIRST FLOOR 3RD AVENUE, ANNA NAGAR CHENNAI - 600 040 TAMILNADU

AREA MANAGER

CHENNAI BAJAJ CAPITAL INVESTOR SERVICES LIMITED NO.1/575 EAST COAST ROAD, KOTTIVAKKAM CHENNAI - 600 041 TAMILNADU

G.R.SURESH 23451284

CHENNAI BAJAJ CAPITAL INVESTOR SERVICES LIMITED SHOP NO.5, GROUND FLOOR VIKAS PLAZA, 37/C, TAMBARAM ROAD VELACHERY CHENNAI - 600 042 TAMILNADU

MAHALAKSHMI 22434994

CHENNAI BAJAJ CAPITAL INVESTOR SERVICES LIMITED YES YES ARCADE, PLOT NO.66 SHOP NO.24, SECRETARIAT COLONY, M.T.H. ROAD AMBATTUR CHENNAI - 600 053 TAMILNADU

M.S. NEELAKANDAN 23451245

CHENNAI BAJAJ CAPITAL INVESTOR SERVICES LIMITED SHOP NO.4,PLOT NO.3 29TH STREET NANGANALLUR CHENNAI - 600 061 TAMILNADU

P.N. MANIKANDAN 23451228

CHENNAI BAJAJ CAPITAL INVESTOR SERVICES LIMITED

VEDAMURTHY 23451257

126SHOP NO.4, TRINITY COMPLEX NO.110, 4TH AVENUE ASHOK NAGAR CHENNAI - 600 083 TAMILNADU

COCHIN BAJAJ CAPITAL INVESTOR SERVICES LIMITED RUBICON BUILDING S.A. ROAD, SOUTH OVER BRIDGE, VALANJAMBALAM COCHIN - 682 016 KERALA

JOHCNY JACOB - A.V.P.

0484- 4119111

COCHIN COMPUTER AGE MANAGEMENT SERVICES PVT. LTD. 40 / 9633 D, VEEKSHANAM ROAD NEAR INTERNATIONAL HOTEL COCHIN - 682 035 KERALA

GEORGE VARGHESE

COCHIN INFRASTRUCTURE LEASING & FINANCIAL SERVICES LTD. 39/4967,USNAZ TOWERS, 3RD FLOOR MEDICAL TRUST HOSPITAL JN, PALLIMUKKU , M G ROAD COCHIN - 682016 KERALA

KAMALAKANNAN 0484-4082066/099

COCHIN INFRASTRUCTURE LEASING & FINANCIAL SERVICES LTD. 39/4967 USNAZ TOWERS, 3RD FLR MEDICAL TRUST

MR. KAMALA KANNAN

0484-4028066

127HOSPITAL JUNCTION PULLIMUKKU, M G ROAD COCHIN - 682 016 KERALA

COCHIN KARVY COMPUTERSHARE PVT. LTD. 39, PANAMPILLY NAGAR COCHIN - 682 036 KERALA

MR. RAMACHANDRAN

0484-4010273 2322152

COIMBATORE INFRASTRUCTURE LEASING & FINANCIAL SERVICES LTD. 424-E RED ROSE TOWERS 2ND FLOOR, ABOVE ICIC BANK LTD D B ROAD, R S PURAM COIMBATORE - 641 002 TAMILNADU

S KRISHNAN 0422 4216657

COIMBATORE INFRASTRUCTURE LEASING & FINANCIAL SERVICES LTD. 1ST FLOOR, SOUTH WING 683-686 COIMBATORE STOCK EXCHANGE BLDG TRICHY ROAD COIMBATORE - 641 005 TAMILNADU

MR. S KRISHNAN 0422-2321657

COIMBATORE COMPUTER AGE MANAGEMENT SERVICES PVT. LTD. OLD # 66 NEW # 86, LOKAMANYA STREET GROUND FLOOR R.S.PURAM COIMBATORE - 641 002 TAMILNADU

KALPANA V

128COIMBATORE BAJAJ CAPITAL

INVESTOR SERVICES LIMITED NO.575, D.B. ROAD, FIRST FLOOR, R.S.PURAM, COIMBATORE - 641 002 TAMILNADU

K.P. PRADEEP KUMAR - V.P.

0422 -4440003

COIMBATORE BAJAJ CAPITAL INVESTOR SERVICES LIMITED 184, AVINASHI ROAD OPP : VARADARAJA MILLS PEELAMEDU COIMBATORE - 641 004 TAMILNADU

DINESH KUMAR 0422 - 4364368

DEHRADUN BAJAJ CAPITAL INVESTOR SERVICES LIMITED POKHRIAL HOUSE, 67/3 (NEW NUMBER 375) OPP. MEEDO PLAZA RAJPUR ROAD DEHRADUN - 248001 UTTARAKHAND

SATYENDRA NEGI 0135-2742096 3956717

DEHRADUN KARVY COMPUTERSHARE PVT. LTD. KAULAGARH ROAD NEAR SIRMAUR MARG ABOVE RELIANCE WEB WORLD DEHRADUN - 248 001 UTTARANCHAL

MR. PANKAJ VASUDEV

0135-3258246

DUBAI KARVY COMPUTERSHARE

971-50-2081665

129PVT. LTD. 503, AL,MUSALLA TOWER, BANK STREET, DUBAI

DURGAPUR COMPUTER AGE MANAGEMENT SERVICES PVT. LTD. SN- 10, AMBEDKAR SARANI CITY CENTRE DURGAPUR - 713 216 WEST BENGAL

FALGUNI GHOSH

ERODE BAJAJ CAPITAL INVESTOR SERVICES LIMITED AANOOR COMPLEX, NO.58, VEERAPATHRA STREET, SATHY ROAD ERODE - 638 003 TAMILNADU

D.SATHISH KANNAN- AREA MANAGER

0424 - 4020420

FARIDABAD BAJAJ CAPITAL INVESTOR SERVICES LIMITED 5R/1, GROUND FLOOR, B.K.CHOWK, NEAR HDFC BANK, FARIDABAD - 121001 HARYANA

AJAY VIKRAM SINGH 95129-2414005

GHAZIABAD BAJAJ CAPITAL INVESTOR SERVICES LIMITED G-5, ANSALS SATYAM BUILDING, RAJ NAGAR, DISTRICT CENTRE, GHAZIABAD - 201002 UTTAR PRADESH

RAHUL ARORA 95120-2824330/2822407

GHAZIABAD BAJAJ CAPITAL INVESTOR SERVICES LIMITED LAJWANTI PLAZA, SHOP NO. 4, SECTOR 4, VAISHALI

PRAVEEN KUMAR PANDEY

95120-4349460/1

130GHAZIABAD - 201012 UTTAR PRADESH

GOA COMPUTER AGE MANAGEMENT SERVICES PVT. LTD. NO.108, 1ST FLOOR, GURUDUTTA BLDG ABOVE WEEKENDER M G ROAD GOA - 403 001 GOA

VIVEKANAND

GOA INFRASTRUCTURE LEASING & FINANCIAL SERVICES LTD. 3,4,5 SANDEEP APARTMENT NEAR HOTEL SAMRAT PANAJI GOA GOA

SOWJNAYA DEEPTHI 0832-2234353/54/2426066

GORAKHPUR BAJAJ CAPITAL INVESTOR SERVICES LIMITED AD TOWER,GR FLOOR, BANK ROAD GORAKHPUR - 273001 UTTAR PRADESH

ASHUTOSH SINGH 99355-23688

GURGAON BAJAJ CAPITAL INVESTOR SERVICES LIMITED 102- AKD TOWER, UPPER GROUND FLOOR,SECTOR 14 OPP.NATHU SWEETS GURGAON - 122001 HARYANA

DHEERAJ CHADHA 95124-2332590 2334177 4062590

GURGAON BAJAJ CAPITAL INVESTOR SERVICES LIMITED 269, DLF CENTRAL ARCADE, DLF CITY, PHASE-II GURGAON - 122002 HARYANA

ANKUR GAUTAM 95124-2561388 4052672

131GUWAHATI BAJAJ CAPITAL

INVESTOR SERVICES LIMITED 3RD FLOOR TILOTTAMA ENCLAVE GNB ROAD, AMBARI GUWAHATI - 781001 ASSAM

SAURAV DAS KASHYAP

0361-2730797

GUWAHATI KARVY COMPUTERSHARE PVT. LTD. 2ND FLR, RAM KUMAR PLAZA CHATRIBARI ROAD, NEAR HIMATSHINGA PETROL PUMP GUWAHATI - 781 001 ASSAM

MR. SANJAY 0361-2608016 2608102

HOWRAH BAJAJ CAPITAL INVESTOR SERVICES LIMITED GAGANANCHAL COMPLEX SHOP NO. 38A 37, DR. ABANI DUTTA ROAD HOWRAH - 711106 WEST BENGAL

SURAJIT BANERJEE 9903303457

HYDERABAD BAJAJ CAPITAL INVESTOR SERVICES LIMITED B-140, BABUKHAN ESTATE BASHEERBAGH HYDERABAD - 500 001 ANDHRA PRADESH

RAYALA SATHYANARAYANA - A.V.P

040 -23230288

HYDERABAD BAJAJ CAPITAL INVESTOR SERVICES LIMITED SHOP NO. 10, 1ST FLOOR MINERVA COMPLEX, 94, S.D. ROAD SECUNDERABAD HYDERABAD - 500 003

M.SHYAM KUMAR 27721033

132ANDHRA PRADESH

HYDERABAD BAJAJ CAPITAL INVESTOR SERVICES LIMITED SHOP NO.4, GROUND FLOOR SWARNAJANTHI COMPLEX (HUDA) AMEERPET HYDERABAD - 500 016 ANDHRA PRADESH

MR. RAJA RAO 23737518

HYDERABAD BAJAJ CAPITAL INVESTOR SERVICES LIMITED NO.3/MIG-1, NEAR ICICI BANK, K.P.H.B. COLONY, KUKATPALLY HYDERABAD - 500 072 ANDHRA PRADESH

MR.VIJAYA KUMAR 66318179

HYDERABAD KARVY COMPUTERSHARE PVT. LTD. 21, AVENUE 4, STREET NO. 1 BANJARA HILLS, HYDERABAD - 500 034 ANDHRA PRADESH

MR. P. NAGESHWARA RAO

040-23312454

HYDERABAD INFRASTRUCTURE LEASING & FINANCIAL SERVICES LTD. 6-3-907, III FLOOR CHALLA CHAMBERS RAJ BHAVAN ROAD SOMAJIGUDA HYDERABAD - 500082 ANDHRA PRADESH

H V SRIVIDYA 66252242 AND 66252243

HYDERABAD INFRASTRUCTURE LEASING & FINANCIAL SERVICES LTD. 6-3-907, 3RD FLOOR, CHALLA CHAMBERS ABOVE MAHAVIR

MS. H. V. SRIVIDYA 040-66252242

133AUTO RAJ BHAVAN ROAD, HYDERABAD - 500 082 ANDHRA PRADESH

HYDERABAD KOTAK SECURITIES LTD. 9-1-164, GROUND FLOOR AMSRI PLAZA S. D. ROAD HYDERABAD - 500 003 ANDHRA PRADESH

VENKATESWARA REDDY

9885189001

HYDERABAD INTEGRATED ENTERPRISES (INDIA) LTD. NO.5-10-197/A, G4, 1ST FLOOR RELIANCE KRISHNA APTS, NAVAD PAHAD, HILL FORT ROAD, HYDERABAD - 500 004 ANDHRA PRADESH

MR. VENKATESHWARULU

040-23242375/472

HYDERABAD DEUTSCHE INVESTOR SERVICES PVT. LTD. 6-3-1093/UG-3 (A&B) VINTAGE BOULEVARD, RAJ BHAVAN RD, HYDERABAD ANDHRA PRADESH

INDORE KOTAK SECURITIES LTD. 314 & 416, CITY CENTRE 570 M. G. ROAD INDORE - 452 001 MADHA PRADESH

SACHIN SHAH 9826065068

INDORE COMPUTER AGE MANAGEMENT SERVICES PVT. LTD. 101, SHALIMAR CORPORATE CENTRE 8-B, SOUTH TUKOGUNJ, OPP.GREENPARK INDORE - 452 001

KAVITA DALAL

134MADHA PRADESH

INDORE KARVY COMPUTERSHARE PVT. LTD. DM TOWER, 105, 106 & 107 ABOVE STANDARD CHARTERED BANK NEAR JANGEERWALA CHOWRAH INDORE - 452 001 MADHA PRADESH

MS. PRIYA 0731-3014204/05

INDORE BAJAJ CAPITAL INVESTOR SERVICES LIMITED SHOP NO.3, CITI PLAZA, M.G. ROAD AOVE PAKIZA INDORE MADHA PRADESH

PRASOON SHUKLA 0731-4072672 2541932

JAIPUR BAJAJ CAPITAL INVESTOR SERVICES LIMITED G-3,ANUCAMPA TOWER,OPP.SANGAM TOWER, CHURCH ROAD JAIPUR - 302001 RAJASTHAN

GHANSHYAM BHAVSAR

0141-2363612 2360702

JAIPUR KARVY COMPUTERSHARE PVT. LTD. S-16, A, 3RD FLOOR, LAND MARK OPP. JAIPUR CLUB, MAHAVIR MARG. C- SCHEME JAIPUR - 302 001 RAJASTHAN

MR. O P KUMAWAT 0141-2363321 2375039

JAIPUR COMPUTER AGE MANAGEMENT SERVICES PVT. LTD. G-III, PARK SAROJ BEHIND ASHOK

K.K.KHILNANI

135NAGAR POLICE STATION R-7, YUDHISTHIR MARG ,C-SCHEME JAIPUR - 302 001 RAJASTHAN

JAIPUR INFRASTRUCTURE LEASING & FINANCIAL SERVICES LTD. IL&FS LTD. 3RD FLOOR,'O' - 19 A, ASHOK MARG,C - SCHEME JAIPUR - 302001 RAJASTHAN

MS SANDHYA HEDA 0141 - 2371626

JAIPUR INFRASTRUCTURE LEASING & FINANCIAL SERVICES LTD. O-19 A; ASHOK MARG C SCHEME JAIPUR - 302 001 RAJASTHAN

MS. SANDHYA HEDA 0141-2371626

JAMSHEDPUR KARVY COMPUTERSHARE PVT. LTD. KANCHAN TOWER, 3RD FLR, 3-S B SHOP AREA, CHHAGANLAL DAYALJI & SONS. MAIN ROAD, BISTUPUR JAMSHEDPUR - 831 001 JHARKHAND

MR. JAYANTO BHATTACHARYA

0657-2487045 2487020

JAMSHEDPUR BAJAJ CAPITAL INVESTOR SERVICES LIMITED SHOP NO. 53, 2ND FLOOR KAMANI BUSINESS CENTRE BISHTUPUR JAMSHEDPUR - 831001 JHARKHAND

UTPAL BANERJEE 0657-2321825

136KALYANI BAJAJ CAPITAL

INVESTOR SERVICES LIMITED B-9/20 ( C. A) P O. KALYANI DIST. NADIA KALYANI - 741235 WEST BENGAL

KAUSHIK CHAKRABORTY

25022106

KANPUR BAJAJ CAPITAL INVESTOR SERVICES LIMITED 25, LOWER GROUND FLOOR, 17/5, ROLLAND TOWER, MALL ROAD KANPUR - 208001 UTTAR PRADESH

RAVI PRAKASH TIWARI

0512-2314625 2315676

KANPUR KARVY COMPUTERSHARE PVT. LTD. 15/46, FIRST FLOOR OPP. MUIR MILLS, CIVIL LINES KANPUR - 208 001 UTTAR PRADESH

MR. SUDHIR TEWARI 0512-3292333 3246390

KANPUR COMPUTER AGE MANAGEMENT SERVICES PVT. LTD. G 27,28 GROUND FLOOR CITY CENTRE 63/ 2, THE MALL KANPUR - 208 001 UTTAR PRADESH

RISHI RANJAN

KARUR BAJAJ CAPITAL INVESTOR SERVICES LIMITED SHOP NO.11, JEYAM TOWERS NO.1B, NORTH PRADHAKSHNAM ROAD NEAR THINNAPPA THEATRE KARUR - 639 001 TAMILNADU

R.M. MURUGAN 04324 -231818

137KOLKATA BAJAJ CAPITAL

INVESTOR SERVICES LIMITED LORD, 3RD FLOOR ROOM NO. 302 7/1 LORD SINHA ROAD KOLKATA - 700071 WEST BENGAL

RAJARSHI MUKHERJEE

4003-4031

KOLKATA BAJAJ CAPITAL INVESTOR SERVICES LIMITED 9 EZRA STREET KOLKATA - 700001 WEST BENGAL

SANTANU CHAKRABORTY

4005-2060

KOLKATA BAJAJ CAPITAL INVESTOR SERVICES LIMITED MARTIN BURN HOUSE GROUND FLOOR, ROOM NO. 15 1, R N MUKHERJEE ROAD KOLKATA - 700001 WEST BENGAL

AVIJIT BANERJEE 4005-3181

KOLKATA BAJAJ CAPITAL INVESTOR SERVICES LIMITED 1ST FLOOR 4 JATIN BAGCHI ROAD KOLKATA - 700029 WEST BENGAL

UDAY SEKAR INDU 4008-5610

KOLKATA BAJAJ CAPITAL INVESTOR SERVICES LIMITED GROUND FLOOR SHOP NO. 9 SHREERAM NAGAR, TEGHORIA , V I P ROAD KOLKATA - 700052 WEST BENGAL

SREEKANTA PODDER 9903303451

KOLKATA BAJAJ CAPITAL INVESTOR SERVICES LIMITED 3RD FLOOR 42/1

PRANTICK KUMAR ROY

9903303445

138BANKIM MUKHERJEE SARANI BLOCK - D, NEW ALIPORE KOLKATA - 700053 WEST BENGAL

KOLKATA BAJAJ CAPITAL INVESTOR SERVICES LIMITED MEZANINE FLOOR, FLAT NO. 3 P - 24A, C I T ROAD SCHEME VI M KOLKATA - 700054 WEST BENGAL

ANIRBAN CHAKRABORTY

4005-2051

KOLKATA BAJAJ CAPITAL INVESTOR SERVICES LIMITED BF - 192 SECTOR I SALT LAKE KOLKATA - 700064 WEST BENGAL

SUJOY DUTTA 4004-6092

KOLKATA BAJAJ CAPITAL INVESTOR SERVICES LIMITED LORD 5TH FLOOR, ROOM NO. 507 7/1 LORD SINHA ROAD KOLKATA - 700071 WEST BENGAL

NAVANEETA GADI 4003-1733

KOLKATA BAJAJ CAPITAL INVESTOR SERVICES LIMITED 182, JESSORE ROAD ( SATGACHI CROSSING) DUM DUM KOLKATA - 700074 WEST BENGAL

BOIDURYA JYOTI MAZUMDAR

9903303455

KOLKATA BAJAJ CAPITAL INVESTOR SERVICES LIMITED PLOT NO. IX - 16 BLOCK EP & GP, SECTOR V SALT LAKE KOLKATA - 700091

ARNAB DUTTA 4006-1770

139WEST BENGAL

KOLKATA COMPUTER AGE MANAGEMENT SERVICES PVT. LTD. 7/1 LORDS BUILDING GROUND FLR, LORD SINHA ROAD KOLKATA - 700 071 WEST BENGAL

SUKUMAR 033-30582297

KOLKATA INFRASTRUCTURE LEASING & FINANCIAL SERVICES LTD. CONSTANTIA GROUND FLOOR 11 DR. U N BRAHMACHARI STREET KOLKATA - 700 017 WEST BENGAL

MR. JATIN SANGANI 033-22807358/63

KOLKATA INFRASTRUCTURE LEASING & FINANCIAL SERVICES LTD. "CONSTANTIA", GROUND FLOOR 11 DR U N BRAHMACHARI STREET GANDHI NAGAR KOLKATA - 700 025 WEST BENGAL

SAMIR GHOSH 033 -22815032/33

KOLKATA KARVY COMPUTERSHARE PVT. LTD. 16, JATIN BAGCHI ROAD, KOLKATA - 700 029 WEST BENGAL

MR. RAJ RAMASWAMY

033-24659263/67 24635432

KOLKATA KOTAK SECURITIES LTD. 7TH FLOOR, APEEJAY HOUSE BLOCK C 15 PARK STREET KOLKATA - 700 016

VISHNU TIBREWALA 033- 65502448

140WEST BENGAL

KOLKATA INTEGRATED ENTERPRISES (INDIA) LTD. 1-B, 4C LANSDOWNE PLACE OPP. RD OF RAMAKRISHNA MISSION HOSPITAL KOLKATA - 700 029 WEST BENGAL

MR. ANANTHA PADMANABHAN

033-24746400/5296

KOTTAYAM BAJAJ CAPITAL INVESTOR SERVICES LIMITED SKYLINE CITADEL BUILDING OPP . PLANTATION CORPORATION, GROUND FLOOR KANJIKUZHY, K.K. ROAD KOTTAYAM - 686 004 KERALA

SHINE - ACRM 0481 -3293519

L.COM BAJAJ CAPITAL INVESTOR SERVICES LIMITED SHOP NO.11 & 12, 7-A, JANAKPURI DISTRICT CENTRE, (OPP.JANAKPURI TRANSPORT AUTHORITY) JANAK PURI L.COM - 110058 NEW DELHI

HIMANSHU BINDRA 25552675 25551976

LUCKNOW BAJAJ CAPITAL INVESTOR SERVICES LIMITED 5, COMMERCE HOUSE, HABIBULLA COMPOUND, 11,MG MARG LUCKNOW - 226001 UTTAR PRADESH

BHARAT BHUSHAN CHATURVEDI

0522-4039500 / 2629773

LUCKNOW BAJAJ CAPITAL INVESTOR SERVICES

VIVEK SINGH 0522-2334177 32961198

141LIMITED SHOP NO.1, SWAROOP MARKET NEAR KAPUTHALA CROSSING, ALIGANJ LUCKNOW - 226024 UTTAR PRADESH

LUCKNOW KARVY COMPUTERSHARE PVT. LTD. 94, MAHATMA GANDHI MARG OPP. GOVERNOR HOUSE LUCKNOW - 226 001 UTTAR PRADESH

MS. RASHI PATHAK 0522-3249039 2236819

LUCKNOW COMPUTER AGE MANAGEMENT SERVICES PVT. LTD. OFF # 4,1ST FLOOR,CENTRE COURT BUILDING, 3/C, 5 - PARK ROAD, HAZRATGANJ LUCKNOW - 226 001 UTTAR PRADESH

SANDEEP DAS

LUDHIANA COMPUTER AGE MANAGEMENT SERVICES PVT. LTD. U/ GF, PRINCE MARKET, GREEN FIELD NEAR TRAFFIC LIGHTS, SARABHA NAGAR PULLI PAKHOWAL ROAD, ABOVE DR. VIRDI'S LAB LUDHIANA - 141 002 PUNJAB

RAJESH DEWAN

LUDHIANA BAJAJ CAPITAL INVESTOR SERVICES LIMITED M-3, ABC SERVICES, SCO-137, FEROZ GANDHI MARKET LUDHIANA - 141001 PUNJAB

AJAY SIDANA 0161-2412287 5121387 9316921166

142MADURAI BAJAJ CAPITAL

INVESTOR SERVICES LIMITED SURIYA TOWERS, NO.5 FIRST FLOOR, 272/273, GOODSHED STREET MADURAI - 625 001 TAMILNADU

SENTHIL MANIKANDAN

0452 - 2345863

MADURAI COMPUTER AGE MANAGEMENT SERVICES PVT. LTD. 86/71A, TAMILSANGAM ROAD MADURAI - 625 001 TAMILNADU

S DURAIMURTHY

MANGALORE COMPUTER AGE MANAGEMENT SERVICES PVT. LTD. NO. G 4 & G 5, INLAND MONARCH OPP. KARNATAKA BANK KADRI MAIN ROAD, KADRI MANGALORE - 575 003 KARNATAKA

VEERESH INCHALMATH

MANGALORE INFRASTRUCTURE LEASING & FINANCIAL SERVICES LTD. 3RD FLOOR RAMA BHAVNA COMPLEX KODIALIBAIL MANGALORE - 575 003 KARNATAKA

MS. GAURI BHANDARKAR

0824 - 2411426

MANGALORE INFRASTRUCTURE LEASING & FINANCIAL SERVICES LTD. 3RD FLOOR RAMBHAVAN COMPLEX KODIALBAIL

GAURI BHANDARKAR 0824-2411426/428

143MANGALORE - 575 003 KARNATAKA

MANGALORE BAJAJ CAPITAL INVESTOR SERVICES LIMITED ESSEL TOWERS, SHOP NO.BS4 BUNTS HOSTEL CIRCLE, MANGALORE - 575 003 KARNATAKA

MR.RAVALNATH 0824-4251787

MEERUT BAJAJ CAPITAL INVESTOR SERVICES LIMITED G-43, GANGA PLAZA, NEAR BEGAM BRIDGE MEERUT CANTT MEERUT - 250001 UTTAR PRADESH

PRIYA RANJAN 0121 - 2666293 2667383

MUMBAI BAJAJ CAPITAL INVESTOR SERVICES LIMITED GROUND FLOOR 003, PENINSULA CORPORATE PARK GANPAT RAO KADAM MARG MUMBAI - 400013 MAHARASHTRA

SURAJIT MISRA(SR.VICE PRESIDENT)

022-40099999

MUMBAI BAJAJ CAPITAL INVESTOR SERVICES LIMITED SHOP NO.7,GR.FLOOR SATYAM SHIVAM SUNDARAM 88 SION CIRCLE MUMBAI - 400022 MAHARASHTRA

MR.AKSHAY PATRA 022-64518004

MUMBAI BAJAJ CAPITAL INVESTOR SERVICES LIMITED GROUND FLOOR AGRA BUILDING

MR.NARAYAN GAIKWAD

022-66376999

1447/9,OAK LANE FORT MUMBAI - 400023 MAHARASHTRA

MUMBAI BAJAJ CAPITAL INVESTOR SERVICES LIMITED SHOP NO.7, RAM NIWAS GOKHALE ROAD OPP.DATTATRAYA HOTEL MUMBAI - 400028 MAHARASHTRA

MR.NARESH JAIN 022-32461282

MUMBAI BAJAJ CAPITAL INVESTOR SERVICES LIMITED SHOP NO.5, GR.FLOOR TARDEO A/C MARKET MUMBAI - 400034 MAHARASHTRA

MR.VIPUL KAPADIA 022-23511048

MUMBAI BAJAJ CAPITAL INVESTOR SERVICES LIMITED ROOM NO.3 A/C MARKET, 5TH FLOOR MUMBAI CENTRAL MUMBAI - 400034 MAHARASHTRA

MS.VIDYA SAJEEVKUMAR

022-65971078

MUMBAI BAJAJ CAPITAL INVESTOR SERVICES LIMITED SHOP NO.6 GOPAL MANSION, STN. ROAD OPP.COPPER CHIMNEY MUMBAI - 400050 MAHARASHTRA

MR.AMIT KOTHARI 022-32954520

MUMBAI BAJAJ CAPITAL INVESTOR SERVICES LIMITED SHOP NO.11,GR. FLOOR DHEERAJ HERITAGE BLDG. S.V.ROAD

MR.TEJAS BEHERA 022-32914078

145MUMBAI - 400054 MAHARASHTRA

MUMBAI BAJAJ CAPITAL INVESTOR SERVICES LIMITED 16, SHOPPER'S POINT BEHIND MOTI MAHAL RESTAURANT S.V. ROAD MUMBAI - 400058 MAHARASHTRA

MR.PRADEEP SHARMA

022-65210116

MUMBAI BAJAJ CAPITAL INVESTOR SERVICES LIMITED ROOM NO.1, GRD. FLOOR SUNIL SADAN, OPP.GRAND CENTRA HOTEL M.D.S. MARG MUMBAI - 400071 MAHARASHTRA

MR.SWAPNIL MAHAJANI

022-25213981

MUMBAI BAJAJ CAPITAL INVESTOR SERVICES LIMITED SAI INFOTECH BLDG., PATEL CHOWK, RB MEHTA ROAD NR.GHATKOPAR STN. MUMBAI - 400077 MAHARASHTRA

MR.PRADEEP BISHT 022-65210115

MUMBAI BAJAJ CAPITAL INVESTOR SERVICES LIMITED SHOP NO.102, SAI ARCADE, N.S.MARG ABOVE UNION BANK OF INDIA MUMBAI - 400080 MAHARASHTRA

MR.PANKAJ PATWARDHAN

022-32509514

MUMBAI BAJAJ CAPITAL INVESTOR SERVICES LIMITED SHOP NO.1 SHANTINATH APT.,

MR.MANOJ VARMA 022-32964078

146OPP. STAR APT. S.V.ROAD MUMBAI - 400092 MAHARASHTRA

MUMBAI BAJAJ CAPITAL INVESTOR SERVICES LIMITED SHOP NO.61, VASANT SAGAR KRISHNA BLDG.,OPP. THAKUR CINEMA THAKUR VILLAGE MUMBAI - 400101 MAHARASHTRA

MR.ANIKET DIVEKAR 022-64507728

MUMBAI BAJAJ CAPITAL INVESTOR SERVICES LIMITED ROOM NO.5, ABV.KHANDELWAL SWEETS, OPP TAHNE STN. GOKHALE ROAD MUMBAI - 400601 MAHARASHTRA

MR.ANUP BHANDARE 022-25376898

MUMBAI BAJAJ CAPITAL INVESTOR SERVICES LIMITED C-1/8/0:2 SECTOR 2 MUMBAI - 400703 MAHARASHTRA

MR.VISHAL NANDANWAR

022-32997372

MUMBAI INFRASTRUCTURE LEASING & FINANCIAL SERVICES LTD. IL&FS LTD, THE IL&FS FINANCIAL CENTRE 8TH FLOOR, PLOT C-22, G-BLOCK, BANDRA KURLA COMPLEX, BANDRA (E) MUMBAI - 400051 MAHARASHTRA

MR. VIJENDRA ANBHAVANE

26533083 & 26593016

MUMBAI INFRASTRUCTURE LEASING &

GEETA GOHIL 022 28570965

147FINANCIAL SERVICES LTD. IL AND FS HOUSE RAHEJA VIHAR CHANDIVALI, ANDHERI EAST MUMBAI - 400072 MAHARASHTRA

MUMBAI INFRASTRUCTURE LEASING & FINANCIAL SERVICES LTD. SHARADHA BUSINESS CENTRE MODERN HOUSE, GROUND FLOOR, 43, V B GANDHI MARG, FORT MUMBAI - 400 023 MAHARASHTRA

MR. SANTOSH MISHRA

022-22817678/79/80

MUMBAI INFRASTRUCTURE LEASING & FINANCIAL SERVICES LTD. 43 GROUND FLOOR DR. V B GANDHI MARG FORT MUMBAI - 400 023 MAHARASHTRA

AVNEET SHARMA 022 - 22817678/80

MUMBAI INFRASTRUCTURE LEASING & FINANCIAL SERVICES LTD. IL&FS FINANCIAL CENTRE, PLOT NO. 22 G BLOCK, BANDRA KURLA COMPLEX BANDRA EAST MUMBAI - 400 051 MAHARASHTRA

MR. VIJENDRA A 022-26533083

MUMBAI INFRASTRUCTURE LEASING & FINANCIAL SERVICES LTD. CHANDIVLI, ANDHERI (EAST)

GIRISH PALSHIKAR 022-28570965

148MUMBAI - 400 072 MAHARASHTRA

MUMBAI COMPUTER AGE MANAGEMENT SERVICES PVT. LTD. RAJABAHDUR COMPOUND, GROUND FLR, BEHIND ICICI BANK, 30 MUMBAI SAMACHAR MARG MUMBAI - 400 023 MAHARASHTRA

R. VAIDYANATHAN 022-25261431

MUMBAI KARVY COMPUTERSHARE PVT. LTD. 26/30, FORT FOUNDATION BLDG MAH. CHAMBER OF COMMERCE LANE NEAR MSC BANK, FORT MUMBAI - 400 023 MAHARASHTRA

MR. SANDEEP BHOGLE

022-66341966/67

MUMBAI INTEGRATED ENTERPRISES (INDIA) LTD. 217, SHILPIN CENTRE - 2ND FLOOR NEAR SHRIRAM INDISTRIAL ESTATE KATRAK ROAD, MUMBAI - 400 031 MAHARASHTRA

MR. GOPALAKRISHNAN ANAND

022-24170417/18/19/20

MUMBAI DEUTSCHE INVESTOR SERVICES PVT. LTD. GROUND FLOOR, PROSPECT BLDG, OPP. HSBC BANK / THOMAS COOK D. N. ROAD, FORT. MUMBAI - 400 021 MAHARASHTRA

M K BIJU 022 - 32583926

MUMBAI KOTAK SECURITIES LTD.

SURESH HARIHARAN 022- 22655005

149RAJA BAHADUR COMPOUND GROUND FLOOR 32 MUMBAI SAMACHAR MARG MUMBAI - 400 001 MAHARASHTRA

MUMBAI KOTAK SECURITIES LTD. NIRLON HOUSE, 5TH FLOOR, NEAR PASSPORT OFFICE WORLI MUMBAI - 400 025 MAHARASHTRA

ARVIND PANCHAL 9820553056

MUMBAI ICICI BROKERAGE SERVICES LTD. NIRLON HOUSE, 4TH FLOOR 254-B, DR. ANNIE BESANT ROAD WORLI MUMBAI MAHARASHTRA

AMI PANDYA

MUMBAI ICICI BROKERAGE SERVICES LTD. 2ND FLOOR, STANROSE HOUSE APPASAHEB MARATHE MARG PRABHADEVI MUMBAI - 400 025 MAHARASHTRA

NARENDRA JAIN 022- 66511320

MUMBAI ICICI BROKERAGE SERVICES LTD. A WING, 3RD FLOOR, ICICI BANK TOWER CHANDIVALI FARM ROAD, CHANDIVALI ANDHERI (EAST) MUMBAI - 400 072 MAHARASHTRA

RUTUJA SAWANT

NAGPUR COMPUTER AGE MANAGEMENT SERVICES PVT. LTD. 145 LENDRA, BEHIND

ANITHA MOKHA

150INDUS IND BANK NEW RAMDASPETH NAGPUR - 440 010 MAHARASHTRA

NAGPUR BAJAJ CAPITAL INVESTOR SERVICES LIMITED SHOP NO.5 PUSHPAKUNJA COMMERCIAL BLDG. CENTRAL BAZAAR ROAD,RAMDAS PETH NAGPUR - 440010 MAHARASHTRA

MR.SHAILESH DORLE 0712-6618577

NASIK BAJAJ CAPITAL INVESTOR SERVICES LIMITED G-13,SUYOJIT SANKUL, TILAK WADI SHARANPUR ROAD NASIK - 422002 MAHARASHTRA

MR.AMOL PAGARE 0253-2580314

NEW DELHI BAJAJ CAPITAL INVESTOR SERVICES LIMITED UNITED INDIA LIFE BUILDING F BLOCK CONNAUGHT PLACE NEW DELHI - 110001 NEW DELHI

VIJAY PAL SINGH 41790444

NEW DELHI BAJAJ CAPITAL INVESTOR SERVICES LIMITED GROUND FLOOR, HERALD HOUSE, BAHADURSHAH ZAFAR MARG NEW DELHI - 110002 NEW DELHI

KAPIL PALIWAL 23317072 23313551

NEW DELHI BAJAJ CAPITAL INVESTOR SERVICES LIMITED 9, GROUND FLOOR, RAJENDRA BHAWAN,

CHANDAN SINGH 25734989 25822840

151(OPP. RACHNA CINEMA), RAJENDRA PLACE, NEW DELHI - 110008 NEW DELHI

NEW DELHI BAJAJ CAPITAL INVESTOR SERVICES LIMITED A-13, ACHARYA NIKETAN, MAYUR VIHAR- PHASE-I NEW DELHI - 110009 NEW DELHI

RAVI PRAKASH 22751169 22752029

NEW DELHI BAJAJ CAPITAL INVESTOR SERVICES LIMITED F-14/1, GROUND FLOOR, BELOW SATYAM I-WAY, MODEL TOWN-II, NEW DELHI - 110009 NEW DELHI

RAJ KUMAR NAGPAL 65515220 27121605

NEW DELHI BAJAJ CAPITAL INVESTOR SERVICES LIMITED SHOP NO.3, GROUND FLOOR, B-5, TAGORE MARKET, (NEXT TO POST OFFICE) KIRTI NAGAR NEW DELHI - 110015 NEW DELHI

ASHOK KUMAR 25113659/25117531

NEW DELHI BAJAJ CAPITAL INVESTOR SERVICES LIMITED 19, DDA MARKET, YUSUF SARAI COMMERCIAL YUSUF SARAI NEW DELHI - 110016 NEW DELHI

RATISH KURUP 26863789 26523166 41841143

NEW DELHI BAJAJ CAPITAL INVESTOR SERVICES LIMITED C-50, SHIVALIK,

PRAMOD SHARMA 26674082 26689170

152MAIN ROAD, MALVIYA NAGAR NEW DELHI - 110017 NEW DELHI

NEW DELHI BAJAJ CAPITAL INVESTOR SERVICES LIMITED GROUND FLOOR 97, BAJAJ HOUSE NEHRU PLACE NEW DELHI - 110019 NEW DELHI

RAJAN SHARMA 41693000

NEW DELHI BAJAJ CAPITAL INVESTOR SERVICES LIMITED L-26 KALKAJI NEW DELHI - 110019 NEW DELHI

SUDHIR AGGARWAL 26223507 26443761

NEW DELHI BAJAJ CAPITAL INVESTOR SERVICES LIMITED GROUND FLOOR, A-454 DEFENCE COLONY NEW DELHI - 110024 NEW DELHI

SANTOSH KUMAR MISHRA

24338180/41553182

NEW DELHI BAJAJ CAPITAL INVESTOR SERVICES LIMITED SHOP NO. 15 GROUND FLOOR, DEEP CINEMA COMPLEX, PHASE-I, ASHOK VIHAR NEW DELHI - 110052 NEW DELHI

AMIT BABBAR 65515221 27461651

NEW DELHI BAJAJ CAPITAL INVESTOR SERVICES LIMITED G-8 & 9, GROUND FLOOR, BHANOT TOWER, A-BLOCK, OPP. JAWALA HERI MARKET, PASCHIM VIHAR

MOHIT TANDON 25284360 25265909

153NEW DELHI - 110063 NEW DELHI

NEW DELHI BAJAJ CAPITAL INVESTOR SERVICES LIMITED 112, IST FLOOR, ANSAL CHAMBERS-I, BHIKAJI CAMA PLACE, NEW DELHI - 110066 NEW DELHI

MANISH SHARMA 26164343 26188644

NEW DELHI BAJAJ CAPITAL INVESTOR SERVICES LIMITED 15, LGF CENTRAL MARKET, MASOODPUR, VASANT KUNJ NEW DELHI - 110070 NEW DELHI

DEBASHISH MOHANTY

26136319/26897632/65515223

NEW DELHI BAJAJ CAPITAL INVESTOR SERVICES LIMITED F-4, PLOT NO. 6, HL SQUARE, SECTOR V NEW DELHI - 110075 NEW DELHI

ROHIT CHANDEL 42730057/58/65

NEW DELHI BAJAJ CAPITAL INVESTOR SERVICES LIMITED SHOP NO.4, FD MARKET, NEAR MADHUBAN CHOWK PITAM PURA NEW DELHI - 110088 NEW DELHI

SURINDER SINGH 27315056 27312742

NEW DELHI BAJAJ CAPITAL INVESTOR SERVICES LIMITED DDA SHOP NO. 24, GROUND FLOOR, CSC MARKET NO. 1 I.P. EXTENSION, PATPARGANJ, NEW DELHI - 110092

SACHIN AGGARWAL 22233120 45515224

154NEW DELHI

NEW DELHI BAJAJ CAPITAL INVESTOR SERVICES LIMITED 5/201, SIKKA COMPLEX, 2ND FLOOR, COMMUNITY CENTRE, PREET VIHAR, NEW DELHI - 110092 NEW DELHI

HARISH BHATIA 22509814 22533270

NEW DELHI BAJAJ CAPITAL INVESTOR SERVICES LIMITED F-107, 1ST FLOOR, 'D' BLOCK MARKET, AJANARA COMPLEX VIVEK VIHAR NEW DELHI - 110095 NEW DELHI

SANJAY SAINI 43036073/74

NEW DELHI COMPUTER AGE MANAGEMENT SERVICES PVT. LTD. 304-305, 3RD FLOOR KANCHENJUNGA BUILDING 18 BARAKHAMBA ROAD NEW DELHI - 110 001 NEW DELHI

SURESH KALRA 011-30481201

NEW DELHI INFRASTRUCTURE LEASING & FINANCIAL SERVICES LTD. 10, COMMUNITY CENTRE 2ND FLOOR, EAST OF KAILASH NEW DELHI NEW DELHI - 110065

NEERAJ SAINI 26443912

NEW DELHI INFRASTRUCTURE LEASING & FINANCIAL SERVICES LTD. 10, COMMUNITY CENTRE 2ND FLOOR, EAST OF KAILESH

MR. RAJESH BHATTACHARJEE

011-26435352

155NEW DELHI - 110 065 NEW DELHI

NEW DELHI KARVY COMPUTERSHARE PVT. LTD. 212, ARUNACHAL BLDG, 19 BARAKHAMBA ROAD, CONNAUGHT PLACE NEW DELHI - 110 001 NEW DELHI

MR. MICHAEL GEORGE

011-23737194 41511627

NEW DELHI KOTAK SECURITIES LTD. 1ST, 2ND 3RD & 4TH FLOOR AMBADEEP 14 KASTURBA GANDHI MARG NEW DELHI - 110 001 NEW DELHI

ANOOP GUPTA 011- 66313109

NEW DELHI INTEGRATED ENTERPRISES (INDIA) LTD. 18/7, 1ST FLOOR, W.E.A ARYA SAMAJ ROAD, KAROL BAGH NEW DELHI - 110 005 NEW DELHI

MR. SUDARSHAN 9871997001/10/12

NOIDA BAJAJ CAPITAL INVESTOR SERVICES LIMITED A-2, BRAHMAPUTRA COMMERCIAL COMPLEX, (NEAR RAIL RESERVATION CENTRE), SECTOR 29, NOIDA NOIDA - 201301 UTTAR PRADESH

DHIRENDER KUMAR 95120-2450100 2451496

NOIDA BAJAJ CAPITAL INVESTOR SERVICES LIMITED C-20, C BLOCK MARKET, SECTOR 41, NOIDA

MANMOHAN PASSI PHONE NO. 95120-4340111/2570410

156NOIDA - 201301 UTTAR PRADESH

PALAKKAD BAJAJ CAPITAL INVESTOR SERVICES LIMITED S.S. COMPLEX, 1ST FLOOR COLLEGE ROAD, NEAR H.P.O. PALAKKAD - 678 001 KERALA

N.V.PARASURAMAN 0491 - 2545579

PANCHKULA BAJAJ CAPITAL INVESTOR SERVICES LIMITED S.C.O.- 322, FIRST FLOOR ABOVE SHER-E-PUNJAB RESTAURANT, SECTOR -9 PANCHKULA HARYANA

SANJIV SAINI 0172-3951813

PANJIM KARVY COMPUTERSHARE PVT. LTD. NO.7 & 8, EL DORADO PLAZA HELIODORO SALGADO ROAD PANJIM - 403 001 GOA

MS. MALINI NAIK 0832-2426870/71-74

PATNA KARVY COMPUTERSHARE PVT. LTD. ANAND TOWERS, 2ND FLOOR, EXHIBITION RD, NR. REPUBLIC HOTEL OPP. MITHILA MOTORS PATNA - 800 001 BIHAR

MR. SHANKAR 0612-2321354/55/56

PATNA COMPUTER AGE MANAGEMENT SERVICES PVT. LTD. KAMLALAYE SHOBHA PLAZA (1ST FLOOR) BEHIND RBI

SUNIL KUMAR

157NEAR ASHIANA TOWER EXHIBITION ROAD PATNA - 800 001 BIHAR

PATNA BAJAJ CAPITAL INVESTOR SERVICES LIMITED ASHIANA PLAZA, 1ST FLOOR FLAT NO. 106B BUDHA MARG PATNA - 800001 BIHAR

RABINDRA KUMAR 0612-2237951

PONDICHERRY BAJAJ CAPITAL INVESTOR SERVICES LIMITED NO.127/A, 100 FEET ROAD NADESAN TOWERS, FIRST FLOOR NATESAN NAGAR PONDICHERRY - 605 001 PONDICHERRY

LAKSHMI NARAYANAN

0413 2204911

PUNE BAJAJ CAPITAL INVESTOR SERVICES LIMITED 1ST FLOOR, OFFICE NO.2 LAND SQUARE, F.C COLLEG ROAD NR.RUPALI RESTAURANT PUNE - 411001 MAHARASHTRA

MR.OMPRAKASH GUPTA

020-40185600

PUNE BAJAJ CAPITAL INVESTOR SERVICES LIMITED SHOP NO.6, SANAS PLAZA 1302,SUBHASH NAGAR BAZIRAO ROAD PUNE - 411002 MAHARASHTRA

MR.ABHAY SHITRE 020-24493355

PUNE COMPUTER AGE YATIN DESAI 020-30283005

158MANAGEMENT SERVICES PVT. LTD. NO.6, 1ST FLR, NIRMITI EMINENCE OPP ABHISHEK HOTEL, MEHANDALE GARAGE RD, ERANDAWANE PUNE - 411 004 MAHARASHTRA

PUNE KARVY COMPUTERSHARE PVT. LTD. SRINATH PLAZA, C WING, 58 & 59 3 RD FLOOR, SURVY NO. 184/4, F C ROAD DYANESHWAR PAKUKA CHOWK PUNE - 411 004 MAHARASHTRA

MR. ROOPESH BALARAMAN

020-25533795 25532783

PUNE INTEGRATED ENTERPRISES (INDIA) LTD. 7 & 8 ARTHSHILP, GROUND FLOOR 1349, 1350, SHUKRAWAR PETH BAJIRAO ROAD, PUNE - 411 002 MAHARASHTRA

MR. L. SUDHAKAR 020-24473944 24481891

PUNE DEUTSCHE INVESTOR SERVICES PVT. LTD. SHOP NO. 7, JALAN CORNER, N C KELKAR ROAD, NARAYANPETH, PUNE MAHARASHTRA

KAMAAL ASHRAFI 9373337513

RAIPUR KARVY COMPUTERSHARE PVT. LTD. 12 / 13, GROUND FLR MILLENNIUM PLAZA, G E ROAD BEHIND INDIAN COFFEE HOUSE

MS. SHARDA 0771-6450194

159RAIPUR - 492 001 CHATTISGARH

RAJKOT KARVY COMPUTERSHARE PVT. LTD. 204, STAR CHAMBERS DR. RAJENDRA PRASAD ROAD HARIHAR CHOWK RAJKOT - 360 001 GUJARAT

MR. NILESH BELANI 0281-2233179 2239338

RAJKOT BAJAJ CAPITAL INVESTOR SERVICES LIMITED PRATIBHA COMPLEX, NR.JAYESH PUBLICITY MOTI TANKI CHOWK RAJKOT - 360001 GUJARAT

MR.SHAILSH DEVDA 0281-3043588

RANCHI KARVY COMPUTERSHARE PVT. LTD. COMMERCE TOWERS, 3RD FLOOR BESIDE MAHABIR TOWERS MAIN ROAD, RANCHI - 834 001 JHARKHAND

MR. RAVI RANJAN 0651-2331320 2330386

ROHTAK BAJAJ CAPITAL INVESTOR SERVICES LIMITED 1ST FLOOR, NARAIN COMPLEX CIVIL ROAD, NEAR CHOTURAM CHOWK ROHTAK HARYANA

NAVEEN KUMAR BALHARA

01262 252084 320889

SALEM BAJAJ CAPITAL INVESTOR SERVICES LIMITED NO.22, SWARNAMBIGAI PLAZA OMALUR MAIN ROAD

D.SATHISH KANNAN- AREA MANAGER

0427 - 2441180

160SALEM - 636 009 TAMILNADU

SECUNDERABAD COMPUTER AGE MANAGEMENT SERVICES PVT. LTD. 102, 1ST FLOOR, JADE ARCADE PARADISE CIRCLE SECUNDERABAD - 500 003 ANDHRA PRADESH

BHAVANARAYANAN 040-39182471

SONEPAT BAJAJ CAPITAL INVESTOR SERVICES LIMITED GROUND FLOOR, OPP. OLD CIVIL HOSPITAL, RAILWAY ROAD SONEPAT - 131001 HARYANA

RAJESH KOHLI 0130-2240623 (95130 FROM DELHI)

SURAT BAJAJ CAPITAL INVESTOR SERVICES LIMITED 101,VISHWAKARMA CHAMBER MAJURA GATED CROSSING ROAD, RING ROAD SURAT - 395002 GUJARAT

MR.HEMANSHU DESAI

0261-2475700

SURAT COMPUTER AGE MANAGEMENT SERVICES PVT. LTD. OFFICE NO 2 AHURA -MAZDA COMPLEX FIRST FLOOR, SADAK STREET TIMALYAWAD, NANPURA SURAT - 395 001 GUJARAT

NAGEN BIHARI

SURAT KARVY COMPUTERSHARE PVT. LTD. G/16 EMPIRE STATE BUILDING NEAR

MR. VIRAL MEHTA 0261-3017158

161UDHNA DARWAJA RING ROAD SURAT - 395 002 GUJARAT

THIRUCHIRAPALLI BAJAJ CAPITAL INVESTOR SERVICES LIMITED SWATI ARCADE, 73/1-F 1ST FLOOR, SALAI ROAD THILLAI NAGAR THIRUCHIRAPALLI - 620 018 TAMILNADU

A. CHANDRAN - AREA MANAGER

0431 - 2763744

THRISSUR BAJAJ CAPITAL INVESTOR SERVICES LIMITED FIRST FLOOR, AMBIKA ARCADE M.G. ROAD THRISSUR - 680 001 KERALA

M.K. SUNIL 0487-3293439

TIRUNELVELI BAJAJ CAPITAL INVESTOR SERVICES LIMITED SHOP NO.1, FIRST FLOOR K.S. ARCADE, NEAR BYEPASS ROUNDTANNA TIRUNELVELI - 627 001 TAMILNADU

JOE RAYMOND 0462 -4000502

TRIVANDRUM BAJAJ CAPITAL INVESTOR SERVICES LIMITED EDAMALA PLAZA, TC 14/999 VAZAHUTHACADU, VELLAYAMBALAM ROAD VAZAHUTHACADU, SASTHAMANGALAM POST TRIVANDRUM - 695 010 KERALA

PRASANTH KRISHNAN

0471 -2735112

162TRIVANDRUM KARVY

COMPUTERSHARE PVT. LTD. 2ND FLOOR, AKSHAYA TOWERS SASTHAMANGALAM TRIVANDRUM - 695 010 KERALA

MR. SUDEEP 0471-2725987/89/91

UDAIPUR BAJAJ CAPITAL INVESTOR SERVICES LIMITED GROUND FLOOR, 1, SARDARPURA, UDAIPUR - 313001 RAJASTHAN

VIVEK SINGHVI 0294- 5103574/3299574

VADODARA BAJAJ CAPITAL INVESTOR SERVICES LIMITED 1ST,FLOOR 129 SIDDHATH COMPLEX RC DUTTA ROAD VADODARA - 390007 GUJARAT

MR.JEETENDRA KAMLATKAR

0265-3088162

VADODARA KARVY COMPUTERSHARE PVT. LTD. 31-34, PAYAL COMPLEX NEAR VADODARA STOCK EXCHANGE SAYAJIGUNJ VADODARA - 390 005 GUJARAT

MR. RAJAN PATEL 0265-2225210 3243293

VADODARA COMPUTER AGE MANAGEMENT SERVICES PVT. LTD. 109 - SILVER LINE BESIDES WORLD TRADE CENTRE SAYAJIGUNJ VADODARA - 390 005 GUJARAT

SATISH SHAH

VADODARA DEUTSCHE INVESTOR SERVICES PVT. LTD.

PIYUSH SHUKLA 9825520624

163301, GOKULESH-II, B/H, RC DUTT RD, ALKAPURI VADODARA GUJARAT

VARANASI BAJAJ CAPITAL INVESTOR SERVICES LIMITED B-58/53-54, 1ST FLOOR, SHIVA COMPLEX RATH YATRA CROSSING VARANASI - 221010 UTTAR PRADESH

REENA SINGH 0542-2361122/3957285

VIJAYAWADA BAJAJ CAPITAL INVESTOR SERVICES LIMITED KALYAN COMPLEX, 39-1-89, 1ST FLOOR, TEMPLE STREET, M.G. ROAD, LABBIPET VIJAYAWADA - 520010 ANDHRA PRADESH

MR.K. MOHIUDDIN 0866-6538181

VIJAYAWADA COMPUTER AGE MANAGEMENT SERVICES PVT. LTD. 40-1-68, RAO & RATNAM COMPLEX NEAR CHENNUPATI PETROL PUMP M.G ROAD, LABBIPET VIJAYAWADA - 520 010 ANDHRA PRADESH

BVD PRASAD

VIJAYAWADA KARVY COMPUTERSHARE PVT. LTD. 39-10-7 OPP. MUNICIPAL WATER TANK LABBIPET VIJAYAWADA - 520 010 ANDHRA PRADESH

MS. SRILAKSHMI 0866-2495200 2495400

VIZAG COMPUTER AGE MANAGEMENT

SASTRY

164SERVICES PVT. LTD. 47/ 9 / 17, 1ST FLOOR 3RD LANE , DWARAKA NAGAR VIZAG - 530 016 ANDHRA PRADESH

VIZAG HDFC ASSET MANAGEMENT COMPNAY LTD. GROUND FLR, SAI GOPAL ARCADE, OPP. WALTAIR CLUB, WALTAIR MAIN RD. SIRIPURAM VIZAG ANDHRA PRADESH

K NARENDRA KUMAR

VIZAG BAJAJ CAPITAL INVESTOR SERVICES LIMITED NO.10-1-125, 1ST FLOOR, ASILMETTA JUNCTION, BESIDE PRASAD LABS VIZAG - 530 003 ANDHRA PRADESH

MR. N.PAVAN 0891 -2598214

165

Chapter 5

General Insurance

Bancassurance- General Insurance Tie up with New India (CC Letter no. MCS/03-04/91 dated 24.10.2003 and MCS/03-04/247 dated 12.03.04) The Bank has entered into a tie-up with New India Assurance Co. for distribution of the general insurance products through our Branch network. An MOU to this effect has been signed on 20th October 2003.. 2. As in the case of life insurance products, the general insurance products can be sold only through a trained and qualified employees of the Bank. ……………. The 50 hrs training is for Officers / Assistants who are CAIIB and the100 hrs training for Officers/Assistants who are non-CAIIB. Faculty support conducted at STC Hyderabad/Bangalore/Perambur which has been accredited by IRDA for conduct of general insurance training. Immediately after the training, the selected Officers/Assistants will be required to appear for a Test conducted by IRDA. Arrangements for administering the Test to the trained staff will be made by New India Assurance Co. 3.Once the selected Officials/Assistants from the identified branches complete the training and are successful in the prescribed general insurance test, they will be designated as ‘Specified Persons’(SP) authorised to sell insurance products of New India Assurance Co viz. Fire, Marine(Cargo) and Motor covers to begin with.

4. New India has allotted the Bank the corporate agency code no. 900042 and when our SP sells select products under the allotted agency code, commission from New India will accrue to the particular branch from where the insurance business has been booked at the following rates: a) For Corporate Clients:

If Paid up Capital

Tariff Business

Non Tariff Business

< Rs. 10 Crs 5% 15%

Rs. 10 Crs to

Rs 25 Crs

2.5% 15%

> Rs 25 Crs NIL 15%

166b) For Individual Clients: 15%

5. To facilitate our trained and qualified officials/assistants viz ‘Specified Persons’ to commence marketing general insurance products we furnish below a few guidelines:-- i) While the choice of the general insurer from whom the customer may wish to purchase insurance cover rests with the borrower, our branches concerned should liaise with officials of New India in their respective areas of operations and endeavour to book the business by encouraging the customers to purchase the cover from us. ii) In cases where insurance cover has already been obtained by the customers, their renewal dates will need to be diarised so that at the time of renewal they can be availed from us. For this the SP will need to contact the concerned customer well before the due date for marketing the products of New India. iii)Neighbouring branches which do not have a SP may also utilize the services of the SP from the identified branch. Suitable instructions should be issued to all the branches to direct all such business leads to the SP from the identified branch. iv) The SP should interact with the visiting borrowers at the branch premises to explore the scope of selling the products to the customers. Branch/Divisional Managers are required to guide the SP suitably in this regard. v)SPs should be actively involved in Customer Relations Programmes and other such events held or arranged by the Bank to spread awareness amongst our customers of the Bank’s foray in general insurance through the corporate agency route. vi) Commission at the rates agreed to with New India, vide para 3 above will accrue to the Branch.SPs will check the commission amount as calculated by New India branch from where the business has been booked. For this purpose, a suitable backup register needs to be maintained which will be scrutinised by the Branch Manager/Divisional Manager

vii) SPs will need to actively liaise with local New India officials who will also offer the necessary support to our branches.

167

MOU to act as Corporate Agent of New India Assurance Co. Renewal thereof (CC Circular No. PBBU/MCS/06-07/12 dated 01.11.2006)

The Bank entered into an MOU with New India Assurance Co. on October

20, 2003 for a period of 3 years to act as its Corporate Agent for distribution of

select general insurance products through our Branches. The MOU has now

been renewed w.e.f., 20th Oct 2006 for a period of 3 years i.e. till 19th Oct

2009, on the same terms, and conditions, as the earlier MOU.

2. The tieup offers our Branches/Offices another income stream to augment

our “Other Income” in as much as all assets insured with New India

Assurance Co. under the Bank’s Corporate Agency Code No. 900042 will

generate a commission ranging from 5 % to 15 % of premium paid. In this

context, we enclose, at Annexure-A, IRDA Circular no.

IRD/CIR/BRO/074/Feb 05 dated 22.02.2005 containing the rates of

commission payable to our offices/branches.

3. All branches/offices are advised to maintain close liaison with the local

offices of New India Assurance Co. and endeavour to cover ALL our Assets

with New India Assurance Co.

4. Currently the strength of Specified Persons is very low and not

commensurate with our assets portfolio. Efforts should now be made to

increase the number of Specified Persons by multitasking the present

qualified and trained Certified Insurance facilitators and AMFI Certified

Employees. Adoption of cluster approach by Specified Persons to book

general insurance business of neighbouring branches not having Specified

Person(s) will also enhance the coverage of general insurance under the tie up

arrangement.

1682. Scale of Commission Annexure A IRD/CIR/BRO/074/FEB-05 22nd February, 2005 C I R C U L A R Subject: Special Discount in lieu of Agency Commission/Brokers

Remuneration and Remuneration payable to Direct Insurance Brokers and Insurance Agents.

Attention is drawn to the Authority’s circular No.GEN/CIR/009/MAR-04 dated 3rd March, 2004 on special discount in lieu of Agency Commission/Broker’s Remuneration payable for Direct Insurance Brokers and Insurance Agents in General Insurance Business”. The above circular was valid for a period of one year starting from 1st April, 2004 to 31st March, 2005. The Authority has reviewed the performance of the industry, particularly the development of the system of brokerage and the benefits to insuring public through increased market penetration. A number of representations received from different stakeholders from time to time on the same have also been examined.

Accordingly, this circular is issued superceding Circular No.GEN/CIR/009/MAR-04 dated 3rd March, 2004 with the following changes: 1. (a) The eligibility limit for Special discount of 5 per cent in

lieu of Agency Commission /Broker’s Remuneration stands raised from paid up capital of above Rs.3 crore to above Rs.15 crore without any distinction between private and public sector.

(b) The cover under the mega risk policies and project insurance (EAR/CAR/ALOP) above Rs.1500/- crore sum insured will also be eligible for Agency Commission/Broker’s Remuneration irrespective of the capital structure and the insured will not be eligible for 5 per cent special discount.

(c) In respect of Government Departments where paid up capital cannot be determined, the facility of 5% Special Discount in lieu of Agency Commission/Broker’s Remuneration shall continue.

(d) Companies or firms, whether Private Limited Companies or Public Sector Undertakings or statutory bodies having a paid up capital above Rs.15 crore except Mega risk policies and project

169insurance (EAR/CAR/ALOP) of sum insured above Rs.1500 crore shall henceforth have the option of either:

• availing a 5% Special Discount and place the Tariff business of Fire, Petrochemical, Engineering, Consequential Loss (Fire), MLOP and IAR directly with an insurer; or

• seeking the services of an Insurance Broker/Insurance Agent, in which case they will become ineligible for availing the 5% Special Discount.

2. The scale of Agency Commission/Brokers Remuneration shall be regulated as per the table given below: No. Class of Risk Paid up

Capital Agency Commission (% of final premium excluding service tax)

Direct Brokers Remuneration (% of final premium excluding service tax)

Individuals 10% 12.5% Paid up capital upto Rs.15 crore

Upto 10% Upto 12.5%

Paid up capital above Rs.15 crore to 25 crore

Upto 6.25% Upto 7.5%

1. Tariff business of Fire, Petrochemical, Engineering, CL (Fire), MLOP and IAR insurances

Paid up capital above Rs.25 crore

Upto 5% Upto 6.25%

2. The above mentioned risks in Sl.No.1 under Mega Policy & project insurance (CAR, EAR, ALOP) with sum insured above Rs.1500 crore

No cap on capital and no special discount

5% 6.25%

3. Indian Motor Tariff and Statutory Insurances (Workmen’s Compensation Act, 1923; Motor Vehicles Act, 1988; Public Liability Insurance Act, 1991)

N.A. Upto 10% Upto 10%

4. All Non-Tariff Business excluding risks in Sl.No.2

N.A. Upto 15% Upto 17.5%

170 3. It is also clarified that:

• Special Discount in lieu of Agency Commission/Brokers Remuneration shall be restricted only to Tariff business of Fire, Petrochemical, IAR, CL (Fire), Engineering & MLOP for paid up capital above Rs.15 crore.

• In all cases where the insured is availing special discount in lieu of Agency Commission/Broker’s Remuneration, the same should be indicated on the face of the policy.

• The percentage of special discount in lieu of Agency Commission/ Broker’s Remuneration specified in item (c) above be applied on the final premium excluding service tax.

• For the purpose of evidence of paid up capital a copy of the latest Balance Sheet which is in public domain as per the requirements of the Companies Act, 1956 should be acceptable. In case of a balance sheet which is 2 years prior to the relevant year of placing insurance an auditor’s certificate must be produced. In case of sole proprietorship and partnership firms a certificate from a Chartered Accountant to the client should be acceptable.

• In respect of branches in India of a foreign company reference should be drawn from the paid up capital of the company in the country in which it is incorporated and thereafter converting it into Indian Rupees.

4. The above orders come into effect from 1st April, 2005. 5. For Marine Hull Tariff business the existing scale of remuneration shall continue until further orders. 6. The Authority is examining the recommendations made by the Expert Committee on the other matters and shall take a final decision in due course of time. (C.S.Rao) Chairman

171

ircular

04th December, 2006

IRDA Circular No. 033/ IRDA/ Brok-Comm/ DEC-06

Re: Limits on payment of commission or brokerage on general insurance business

By virtue of the power vested in the Authority under Section 14 of the Insurance Regulatory and Development Authority Act, 1999 and in terms of the provisions of Sections 40(1), 40A(3) and Section 42E of the Insurance Act, 1938, the Authority hereby directs that the percentage of premium that can be paid by way of commission or brokerage on a general insurance policy shall not exceed the percentages of premiums set out below. No brokerage can be paid in respect of an insurance where agency commission is payable and likewise, no agency commission can be paid in respect of an insurance where brokerage is payable.

Class of business Maximum percentage of premium payable as agency commission or brokerage

(% of final premium excluding service tax)

Agency Comm. Brokerage

1. Fire, Engineering insurances

i. Individuals 10% 12.5%

ii. Corporate clients (including PSUs)

whose paid up capital is:

a) Upto Rs.15 crores 10% 12.5%

b) Between Rs.15 crs & 25 crs 6.25% 7.5%

c) Over Rs.25 crores 5% 6.25%

iii. Risks qualifying as large risks under

para 19(v) of File & Use Guidelines 5% 6.25%

1722. Motor insurance business (other than third

party)*, WC/ EL and statutory PL Business 10% 10%

3. Marine Hull insurance 10% 12.5%

4. Marine Cargo business 15% 17.5%

5. All other business 15% 17.5%

* - No commission shall be paid on motor third party insurance

For the purpose of evidence of paid up capital a copy of the latest Balance Sheet which is in public domain as per the requirements of the Companies Act, 1956 should be acceptable. In case of a balance sheet which is 2 years prior to the relevant year of placing insurance an auditor’s certificate must be produced. In case of sole proprietorship and partnership firms a certificate from a Chartered Accountant to the client should be acceptable.

In respect of branches in India of a foreign company reference should be made to the paid up capital of the company in the country in which it is incorporated converting it into Indian Rupees at the current exchange rate on the date of insurance

No payment of any kind, including “administration or servicing charges” is permitted to be made to the agent or the broker in respect of the business in respect of which he is paid agency commission or brokerage.

This direction supersedes all existing directions on the subject and shall take effect in respect of insurances or renewals commencing on or after 1 January 2007.

(C.S.Rao) Chairman

173

August 25, 2008

Ref: 011/ IRDA/ Brok-Comm/ Aug-08

Re: Limits on payment of commission or brokerage on general insurance business with effect from 1 st October 2008

By virtue of the power vested in the Authority under Section 14 of the Insurance Regulatory and Development Authority Act, 1999 and in terms of the provisions of Sections 40(1), 40A(3) and Section 42E of the Insurance Act, 1938, the Authority hereby directs that the percentage of premium that can be paid by way of commission or brokerage on a general insurance policy shall not exceed the percentages of premiums set out below. No brokerage can be paid in respect of an insurance where agency commission is payable and likewise, no agency commission can be paid in respect of an insurance where brokerage is payable.

Class of Business

Maximum percentage ofpremium payable as agencycommission or brokerage

(% of final premium excludingservice tax)

S. No. Agency Comm. Brokerage Fire, IAR and Engineeringinsurances

i. General

10% 12.5%

1.

ii. Risks treated as large risks underpara 19(v) of File & Use Guidelines

5% 6.25%

2 Motor insurance business (ODportion), WC/EL & statutory PublicLiability Insurance

10% 10%

3 Motor Third Party insurance Nil Nil 4 Marine Hull insurance 10% 12.5% 5 Marine Cargo business 15% 17.5% 6 All other business 15% 17.5%

No payment of any kind, including “administration or servicing charges” is permitted to be made to the agent or the broker in respect of the business in respect of which he is paid agency commission or brokerage.

This direction supersedes all existing directions on the subject and shall take effect in respect of insurances or renewals commencing on or after 1 st

174October 2008 .

(J.Harinarayan) Chairman

175

3. Training and Certification as Specified Person (CC Circular no. MCS/07-08/13 dated 24.10.07)

BANCASSURANCE : LIFE and /or GENERAL INSURANCE REDUCTION IN TRAINING HOURS w.e.f 1st Nov 2007 Extant Instructions:

In terms of extant instructions of IRDA, Officers / Assistants short listed for

becoming Certified Insurance Facilitators (for life insurance) or Specified

Persons (for General Insurance) would have to undergo 50 or 100 hours of

practical training, from an approved institution , depending upon their CAIIB

status. Composite Insurance Agents eligible for marketing Life as well as

General Insurance products were required to undergo 75 or 150 hrs of

practical training , from an approved institution , depending upon their

CAIIB status.

Revised Instructions:

Now, IRDA vide its circular no. 42/IRDA/Agency/Oct 2007 of 15/10/2007,

has advised that with effect from 1st Nov 2007 , the number of hours required

for practical training stands reduced to 25 or 50 hours , from an approved

institution, depending upon the CAIIB status of the short listed Officer /

Assistant, in terms of Gazette Notifications, regarding IRDA (Training of

Insurance Agents) (Amendment) Regulation 2007 and IRDA (Training of

Corporate Agents) (Amendment) Regulation 2007, issued on 8th October 2007

(copies enclosed).

2. In case of Officers / Assistants short listed for undergoing both life as well

as general insurance training, to become Composite Insurance Agents, the

number of training hours stands reduced to 35 or 75 hours, from an approved

institution, depending upon their CAIIB status.

176 4. Scheme for Reimbursement of Examination fees and Payment of Honorarium : General Insurance

(Vide e-Circular P&HRD. Sl. No. : 266/2007 - 08 Circular No. : CDO/P&HRD-LANDD/22/2007 – 08 dated 11 August 2007)

1. In terms of extant instructions, vide our Cir./ HRD/ CDO/ 94/ 878 dated

24.11.2003, approval had been granted for payment of an incentive of

Rs.2500/- (Rupees two thousand five hundred only) to such employees who

successfully complete the training in the subject of non-life insurance and

qualify a mandatory test to be conducted by the institutions accredited by

IRDA for the purpose.

2. In this connection, during the last few years the general insurance market

has been growing at a substantial pace. A number of players have entered the

market and the existing as well as the new players have adopted aggressive

strategies to capture a larger share of the market. The Bank, too, is in the

process of entering the general insurance market and this is likely in the next

six months. The Bank needs to be well prepared by way of adequate number

of trained employees who are ready to seek significant business for the Bank

by the time the new general insurance business is launched. To capture a

sizable market-share of the growing business, the Bank needs

to significantly focus on marketing efforts and involve more and more

employees at the Branch level. This calls for further motivating our employees

for going in for certification in a big way. The existing Scheme for Payment of

Honorarium is now more than four years old and, in the meantime, there has

been an all round increase in prices.

3. In view of the above, it has been decided to increase the honorarium

payable on obtaining certification for non-life insurance from Rs.2500/- to

Rs.5000/- (Rupees five thousand only). It has also been decided that in view

of the large-scale appointment of CRE (PB)s, the Scheme may be extended to

cover such employees also.

4. All other terms and conditions as mentioned in our aforementioned

Circular would remain unchanged.

177

Chapter 6

Credit Cards

1. Helpline

SBI Cards has created a dedicated cell for handling service related issues as

under:

Tel: +91 – 124 – 3987388

E mail id exclusively for SBI Staff: [email protected]

The staff can send their feedback/complaints etc at this id. Their mails will be

acknowledged immediately on receipt thereof. SBI Card have fixed the turn

around time of 2 working days for the feedback/complaints received on this

id, but cases where some deep/discreet investigations are required, the Turn

Around Time will be a maximum of 5 working days.

The id may not be passed on to the customers in general. Efficiency of service

to the bank would get impacted if customers in general also start sending

mails to this id. In the case of any mail landing in this mailbox from other

than staff, this will be forwarded to [email protected]

178

Chapter 7 Miscellaneous 1. Accounting System for booking of fee/commission/brokerage with BGL and CGL Nos. ( CC letter no. MCS/07-08/18 dated 5th May 2007.) Income received by the branches from cross selling is not being reflected correctly in the Branch Performance Report. In order to rectify the position, separate General Ledger heads classifying income from selling life insurance/ general insurance/mutual funds/credit cards have been provided in the Core Banking System by Global IT Centre, Belapur and since activated by the Central data Centre. Necessary Service desk announcements have already been made by the IT Deptt. about the availability of these accounts, instructing branches to credit the income proceeds to the correct accounts.

P FORM Description along with OLCC for Commission

P FORM Head GLCC No. GLCC Description BGL BGL DESCRIPTION (Entered by

Account branches or CMP

Centre by posting the Commission entry 1. Life Insurance (Premium) 1a. Group 7435505001 Commission on

Life Insurance – Group

2399716 COMM ON LIFE INSURANCE-GROUP

1b. Individual 7428505001 Comm. On SBI Life / Other

97924 Comm on SBI Life/Others

2. MF (Gross) 2a. SBI Mutual Fund

7426505001 Comm. On SBI Mutual Fund

97925 Comm on Mutual Fund

2b. UTI Mutual Fund

7436505001 Comm. On UTI Mutual Fund

2399717 Comm on UTI Mutual Fund

2c. Tata Mutual Fund

7437505001 Comm. On Tata Mutual Fund

2399718 Comm on Tata Mutual Fund

2d. Fidelity Mutual Fund

7438505001 Comm. On Fidelity Mutual Fund

2399719 Comm on Fidelity Mutual Fund

2e. Templeton Mutual Fund

7439505001 Comm. On Templeton Mutual Fund

2399720 Comm on Templeton Mutual Fund

3. Gen. Insurance (Premium)

7428505001 Comm. From sale of General

97937 Comm. from sale of General Insurance

179

2. Insurance Regulatory and Development Authority (Protection of Policyholders’ Interests) Regulations, 2002.

In exercise of the powers conferred by clause (zc) of sub-section (2) of section 114A of the Insurance Act, 1938 (4 of 1938) read with sections 14 and 26 of the Insurance Regulatory and Development Authority Act, 1999 (41 of 1999), the Authority, in consultation with the Insurance Advisory Committee, hereby makes the following regulations, namely:

Short title and commencement

(1) These regulations may be called the Insurance Regulatory and Development Authority (Protection of Policyholders’ Interests) Regulations, 2002

(2) They shall come into force on the date of their publication in the Official Gazette and shall apply to all contracts of insurance effected thereafter, except regulation 4(1) which shall come into force on 1st October, 2002.

(3) These Regulations are in addition to any other regulations made by the Authority, which may, inter alia, provide for protection of the interest of policyholders.

(4) These Regulations apply to all insurers, insurance agents, insurance intermediaries and policyholders.

Definitions

2. (1) In these regulations, unless the context otherwise requires:

(a) “Act” means the Insurance Act, 1938 (4 of 1938);

(b) “Authority” means the Insurance Regulatory and Development Authority established under the provisions of section 3 of the Insurance Regulatory and Development Authority Act, 1999 (41 of 1999);

“Cover” means an insurance contract whether in the form of a policy or a cover note or a Certificate of Insurance or any other form prevalent in the industry to evidence the existence of an insurance contract; “Proposal form” means a form to be filled in by the proposer for insurance, for furnishing all material information required by the insurer in respect of a risk, in order to enable the insurer to decide whether to accept or decline, to undertake the risk, and in the event of

Insurance Products Products 4. SBI Cards Nos. 7405505001 Comm. On SBI

Card Issu. 98328 Comm on SBI Card

Issue Others

180acceptance of the risk, to determine the rates, terms and conditions of a cover to be granted. Explanation: “Material” for the purpose of these regulations shall mean and include all important, essential and relevant information in the context of underwriting the risk to be covered by the insurer.

(e) “Prospectus” means a document issued by the insurer or in its behalf to the prospective buyers of insurance, and should contain such particulars as are mentioned in Rule 11 of Insurance Rules, 1939 and includes a brochure or leaflet serving the purpose. Such a document should also specify the type and character of riders on the main product indicating the nature of benefits flowing thereupon;

(f) Words and expressions used and not defined in these regulations, but defined in the Act, or the Life Insurance Corporation Act, 1956, (31 of 1956) or the General Insurance Business (Nationalisation) Act 1972 (57 of 1972), or the Insurance Regulatory and Development Authority Act, 1999 (41 of 1999) or the Insurance Rules, 1939 shall have the meanings respectively assigned to them in those Acts or the Rules.

3. Point of Sale (1) Notwithstanding anything mentioned in regulation 2(e) above, a prospectus of any insurance product shall clearly state the scope of benefits, the extent of insurance cover and in an explicit manner explain the warranties, exceptions and conditions of the insurance cover and, in case of life insurance, whether the product is participating (with-profits) or non-participating (without-profits). The allowable rider or riders on the product shall be clearly spelt out with regard to their scope of benefits, and in no case, the premium relatable to all the riders put together shall exceed 30% of the premium of the main product.

Explanation: The rider or riders attached to a life policy shall bear the nature and character of the main policy, viz. participating or non-participating and accordingly the life insurer shall make provisions, etc., in its books.

(2) An insurer or its agent or other intermediary shall provide all material information in respect of a proposed cover to the prospect to enable the prospect to decide on the best cover that would be in his or her interest.

(3) Where the prospect depends upon the advice of the insurer or his agent or an insurance intermediary, such a person must advise the prospect dispassionately.

181(4) Where, for any reason, the proposal and other connected papers are not filled by the prospect, a certificate may be incorporated at the end of proposal form from the prospect that the contents of the form and documents have been fully explained to him and that he has fully understood the significance of the proposed contract.

i. In the process of sale, the insurer or its agent or any intermediary shall act according to the code of conduct prescribed by:

the Authority the Councils that have been established under section 64C of the Act

and the recognized professional body or association of which the agent or

intermediary or insurance intermediary is a member.

4. Proposal for insurance

(1) Except in cases of a marine insurance cover, where current market practices do not insist on a written proposal form, in all cases, a proposal for grant of a cover, either for life business or for general business, must be evidenced by a written document. It is the duty of an insurer to furnish to the insured free of charge, within 30 days of the acceptance of a proposal, a copy of the proposal form.

(2) Forms and documents used in the grant of cover may, depending upon the circumstances of each case, be made available in languages recognised under the Constitution of India.

(3) In filling the form of proposal, the prospect is to be guided by the provisions of Section 45 of the Act. Any proposal form seeking information for grant of life cover may prominently state therein the requirements of Section 45 of the Act.

(4) Where a proposal form is not used, the insurer shall record the information obtained orally or in writing, and confirm it within a period of 15 days thereof with the proposer and incorporate the information in its cover note or policy. The onus of proof shall rest with the insurer in respect of any information not so recorded, where the insurer claims that the proposer suppressed any material information or provided misleading or false information on any matter material to the grant of a cover.

(5) Wherever the benefit of nomination is available to the proposer, in terms of the Act or the conditions of policy, the insurer shall draw the attention of the proposer to it and encourage the prospect to avail the facility.

(6) Proposals shall be processed by the insurer with speed and efficiency and all decisions thereof shall be communicated by it in writing within a reasonable period not exceeding 15 days from receipt of proposals by the insurer.

1825. Grievance redressal procedure

Every insurer shall have in place proper procedures and effective mechanism to address complaints and grievances of policyholders efficiently and with speed and the same along-with the information in respect of Insurance Ombudsman shall be communicated to the policyholder along-with the policy document and as maybe found necessary.

6. Matters to be stated in life insurance policy

(1) A life insurance policy shall clearly state:

(a) the name of the plan governing the policy, its terms and conditions;

(b) whether it is participating in profits or not;

(c) the basis of participation in profits such as cash bonus, deferred bonus, simple or compound reversionary bonus;

(d) the benefits payable and the contingencies upon which these are payable and the other terms and conditions of the insurance contract;

(e) the details of the riders attaching to the main policy;

(f) the date of commencement of risk and the date of maturity or date(s) on which the benefits are payable;

(g) the premiums payable, periodicity of payment, grace period allowed for payment of the premium, the date the last instalment of premium, the implication of discontinuing the payment of an instalment(s) of premium and also the provisions of a guaranteed surrender value.

(h) the age at entry and whether the same has been admitted;

(i) the policy requirements for (a) conversion of the policy into paid up policy, (b) surrender (c) non-forfeiture and (d) revival of lapsed policies;

(j) contingencies excluded from the scope of the cover, both in respect of the main policy and the riders;

(k) the provisions for nomination, assignment, and loans on security of the policy and a statement that the rate of interest payable on such loan amount shall be as prescribed by the insurer at the time of taking the loan;

any special clauses or conditions, such as, first pregnancy clause, suicide clause etc.; and

the address of the insurer to which all communications in respect of the policy shall be sent.

the documents that are normally required to be submitted by a claimant in support of a claim under the policy.

183(2) While acting under regulation 6(1) in forwarding the policy to the insured, the insurer shall inform by the letter forwarding the policy that he has a period of 15 days from the date of receipt of the policy document to review the terms and conditions of the policy and where the insured disagrees to any of those terms or conditions, he has the option to return the policy stating the reasons for his objection, when he shall be entitled to a refund of the premium paid, subject only to a deduction of a proportionate risk premium for the period on cover and the expenses incurred by the insurer on medical examination of the proposer and stamp duty charges.

(3) In respect of a unit linked policy, in addition to the deductions under sub-regulation (2) of this regulation, the insurer shall also be entitled to repurchase the unit at the price of the units on the date of cancellation.

(4) In respect of a cover, where premium charged is dependent on age, the insurer shall ensure that the age is admitted as far as possible before issuance of the policy document. In case where age has not been admitted by the time the policy is issued, the insurer shall make efforts to obtain proof of age and admit the same as soon as possible.

7. Matters to be stated in general insurance policy

(1) A general insurance policy shall clearly state:

(a) the name(s) and address(es) of the insured and of any bank(s) or any other person having financial interest in the subject matter of insurance;

(b) full description of the property or interest insured;

(c) the location or locations of the property or interest insured under the policy and, where appropriate, with respective insured values;

(d) period of Insurance;

(e) sums insured;

(f) perils covered and not covered;

(h) any franchise or deductible applicable;

(i) premium payable and where the premium is provisional subject to adjustment, the basis of adjustment of premium be stated;

(j) policy terms, conditions and warranties;

(k) action to be taken by the insured upon occurrence of a contingency likely to give rise to a claim under the policy;

184(l) the obligations of the insured in relation to the subject matter of

insurance upon occurrence of an event giving rise to a claim and the rights of the insurer in the circumstances;

(m) any special conditions attaching to the policy;

• provision for cancellation of the policy on grounds of mis-representation, fraud, non-disclosure of material facts or non-cooperation of the insured;

• the address of the insurer to which all communications in respect of the insurance contract should be sent;

• the details of the riders attaching to the main policy; • proforma of any communication the insurer may seek from the

policyholders to service the policy.

(2) Every insurer shall inform and keep informed periodically the insured on the requirements to be fulfilled by the insured regarding lodging of a claim arising in terms of the policy and the procedures to be followed by him to enable the insurer to settle a claim early.

8. Claims procedure in respect of a life insurance policy

(1) A life insurance policy shall state the primary documents which are normally required to be submitted by a claimant in support of a claim.

(2) A life insurance company, upon receiving a claim, shall process the claim without delay. Any queries or requirement of additional documents, to the extent possible, shall be raised all at once and not in a piece-meal manner, within a period of 15 days of the receipt of the claim.

(3) A claim under a life policy shall be paid or be disputed giving all the relevant reasons, within 30 days from the date of receipt of all relevant papers and clarifications required. However, where the circumstances of a claim warrant an investigation in the opinion of the insurance company, it shall initiate and complete such investigation at the earliest. Where in the opinion of the insurance company the circumstances of a claim warrant an investigation, it shall initiate and complete such investigation at the earliest, in any case not later than 6 months from the time of lodging the claim.

(4) Subject to the provisions of section 47 of the Act, where a claim is ready for payment but the payment cannot be made due to any reasons of a proper identification of the payee, the life insurer shall hold the amount for the benefit of the payee and such an amount shall earn interest at the rate applicable to a savings bank account with a scheduled bank (effective from 30 days following the submission of all papers and information).

(5) Where there is a delay on the part of the insurer in processing a claim for a reason other than the one covered by sub-regulation (4), the life insurance company shall pay interest on the claim amount at a rate which

185is 2% above the bank rate prevalent at the beginning of the financial year in which the claim is reviewed by it.

9. Claim procedure in respect of a general insurance policy

(1) An insured or the claimant shall give notice to the insurer of any loss arising under contract of insurance at the earliest or within such extended time as may be allowed by the insurer. On receipt of such a communication, a general insurer shall respond immediately and give clear indication to the insured on the procedures that he should follow. In cases where a surveyor has to be appointed for assessing a loss/ claim, it shall be so done within 72 hours of the receipt of intimation from the insured.

(2) Where the insured is unable to furnish all the particulars required by the surveyor or where the surveyor does not receive the full cooperation of the insured, the insurer or the surveyor as the case may be, shall inform in writing the insured about the delay that may result in the assessment of the claim. The surveyor shall be subjected to the code of conduct laid down by the Authority while assessing the loss, and shall communicate his findings to the insurer within 30 days of his appointment with a copy of the report being furnished to the insured, if he so desires. Where, in special circumstances of the case, either due to its special and complicated nature, the surveyor shall under intimation to the insured, seek an extension from the insurer for submission of his report. In no case shall a surveyor take more than six months from the date of his appointment to furnish his report.

(3) If an insurer, on the receipt of a survey report, finds that it is incomplete in any respect, he shall require the surveyor under intimation to the insured, to furnish an additional report on certain specific issues as may be required by the insurer. Such a request may be made by the insurer within 15 days of the receipt of the original survey report provided that the facility of calling for an additional report by the insurer shall not be resorted to more than once in the case of a claim.

(4) The surveyor on receipt of this communication shall furnish an additional report within three weeks of the date of receipt of communication from the insurer.

(5) On receipt of the survey report or the additional survey report, as the case may be, an insurer shall within a period of 30 days offer a settlement of the claim to the insured. If the insurer, for any reasons to be recorded in writing and communicated to the insured, decides to reject a claim under the policy, it shall do so within a period of 30 days from the receipt of the survey report or the additional survey report, as the case may be.

(6) Upon acceptance of an offer of settlement as stated in sub-regulation (5) by the insured, the payment of the amount due shall be made within 7 days from the date of acceptance of the offer by the insured. In the cases of delay

186in the payment, the insurer shall be liable to pay interest at a rate which is 2% above the bank rate prevalent at the beginning of the financial year in which the claim is reviewed by it.

10. Policyholders’ Servicing

(1) An insurer carrying on life or general business, as the case may be, shall at all times, respond within 10 days of the receipt of any communication from its policyholders in all matters, such as:

(a) recording change of address;

(b) noting a new nomination or change of nomination under a policy;

(c) noting an assignment on the policy;

(d) providing information on the current status of a policy indicating matters, such as, accrued bonus, surrender value and entitlement to a loan;

(e) processing papers and disbursal of a loan on security of policy;

(f) issuance of duplicate policy;

(g) issuance of an endorsement under the policy; noting a change of interest or sum assured or perils insured, financial interest of a bank and other interests; and

(h) guidance on the procedure for registering a claim and early settlement thereof.

11. General

(1) The requirements of disclosure of “material information” regarding a proposal or policy apply, under these regulations, both to the insurer and the insured.

(2) The policyholder shall assist the insurer, if the latter so requires, in the prosecution of a proceeding or in the matter of recovery of claims which the insurer has against third parties.

(3) The policyholder shall furnish all information that is sought from him by the insurer and also any other information which the insurer considers as having a bearing on the risk to enable the latter to assess properly the risk sought to be covered by a policy.

(4) Any breaches of the obligations cast on an insurer or insurance agent or insurance intermediary in terms of these regulations may enable the Authority to initiate action against each or all of them, jointly or severally, under the Act and/or the Insurance Regulatory and Development Authority Act, 1999.

187 3. Role Sheet of Chief Managers / Asst. General Managers (Cross Selling) In the Circles

1. Draw up plans for marketing and cross selling the products and services

of the Subsidiaries / Joint Ventures of the Bank thought the branch in the

Network and monitor their implementation.

2. Assist the network in selling the products / services of the Subsidiaries –

e.g. insurance products, Mutual Fund products, General Manager and SBI

Cards products.

3. Identify suitable branches for delivery of products / services of the

Subsidiaries / General Insurance Company in consultation with Circle

functionaries / Network functionaries.

4. Arrange for publicity of products and services at the Circle / Network

level.

5. Co-ordinate with Marketing – Cross Selling Department at the Corporate

Centre in setting targets, with the approval of the CMC to Network for

selling the products and services of the Subsidiaries of the Bank/General

Insurance Company.

6. Participate in Network level and Regional ‘P’ Review meetings and

arrange for monthly review of performance of Branches, vis-à-vis the

targets set.

7. Arrange for performance review and put up periodic activity reports to

the CMC and Corporate Centre at monthly intervals (as per format below).

8. Interact with CirMAC members, General Manager (Network), Asst.

General Managers heading Regions and Heads of Branches on a regular

basis to promote cross-selling. To interact with functionaries in the

Network and guide them.

9. Interact and inter face with officials of subsidiaries / Joint Ventures like

SBI Life, SBI Fund Management Ltd. etc.

10. Help conduct refresher product training and certification training

programmes at regular intervals.

18811. Interact with the training system, to seek feedback and to share

information.

12. Co-ordinate with and participate in product presentation to Corporates,

institutions and groups of customers arranged / organized by Regions /

Network.

13. Actively cross-sell to MCG/CAG units within the geographical area of the

Network/Circle.

Cross Selling Activity Report for the Month of ……………………. (Rs. in Lacs) A. INCOME

Income category by Partner

Budgeted Commission upto the month

Commission as reported by Company upto the month

Commission as per Branch P report

SBI Life SBI MF UTI MF Tata MF

Franklin Templeton MF

Fidelity MF Others

New India SBI Cards Total (No. of Participants) B. Conducted by

Trainings for Certfication as

Proposed by Circle

Conducted by the Companies

CIF ACEs SPs

Total (No. of Personnel) C.

Details of Marketing

Trained at the beginning of the

No. trained during the

No. passed during the Month

189

Personnel Trained

month Month

CRE OMR

CRA RM-PB RM ME Others Total

Marketing Personnel

Total no. of personnel trained as CIF/ACE/SP at the end of the month

CRE OMR CRA RM-PB RM ME Others Total

D. Details of Marketing Activity / Special Campaigns Undertaken at LHO/RBO/Branches/Others

a) Location b) Details c) Business Booked/ Remarks E. Details of Cross Selling Activities for CAG/MCG Units: a) Location b) Contacts Made/ Details c) Business Booked/ Remarks F. Details of Major Campaigns / Promotion launched by our Partners

190 Chief General Manager (Cross Selling) ………………………Circle Date:

191

4. Code of Conduct for Certified Insurance Facilitators (CIFs) and

Specified Persons (SPs):

Para 9 of LICENSING OF CORPORATE AGENTS REGULATIONS, 2002

dated 16th October, 2002 issued by Insurance Regulatory and Development

Authority prescribes a Code of Conduct for Insurance Agents i.e. Certified

Insurance Facilitators (CIFs) and Specified Persons (SPs).

2) Every CIF/SP shall follow the code of conduct specified below:

13. Every corporate agent/ corporate insurance executive/ specified person shall,---

i) identify himself and the insurance company of whom he is a representative;

ii) disclose his licence/ certificate to the prospect on demand;

iii) disseminate the requisite information in respect of insurance products offered for sale by his insurer and take into account the needs of the prospect while recommending a specific insurance plan;

iv) disclose the scales of commission in respect of the insurance product offered for sale, if asked by the prospect;

v) indicate the premium to be charged by the insurer for the insurance product offered for sale;

vi) explain to the prospect the nature of information required in the proposal form by the insurer, and also the importance of disclosure of material information in the purchase of an insurance contract;

vii) bring to the notice of the insurer any adverse habits or income inconsistency of the prospect, in the form of a report (called “Insurance Agent’s Confidential Report”) along with every proposal submitted to the insurer, and any material fact that may adversely affect the underwriting decision of the insurer as regards acceptance of the proposal, by making all reasonable enquiries about the prospect;

viii) inform promptly the prospect about the acceptance or rejection of the proposal by the insurer;

ix) obtain the requisite documents at the time of filing the proposal form with the insurer; and other documents subsequently asked for by the insurer for completion of the proposal;

192

x) render necessary assistance to the policyholders or claimants or beneficiaries in complying with the requirements for settlement of claims by the insurer;

xi) advise every individual policyholder to effect nomination or assignment or change of address or exercise of options, as the case may be, and offer necessary assistance in this behalf, wherever necessary;

193 iv.No CIF/SP shall,----

i. solicit or procure insurance business without holding a valid licence/ certificate;

ii. induce the prospect to omit any material information in the proposal form;

iii. induce the prospect to submit wrong information in the proposal form or documents submitted to the insurer for acceptance of the proposal;

iv. behave in a discourteous manner with the prospect;

v. interfere with any proposal introduced by any other specified person or any insurance intermediary;

vi. offer different rates, advantages, terms and conditions other than those offered by his insurer;

vii. demand or receive a share of proceeds from the beneficiary under an insurance contract;

viii. force a policyholder to terminate the existing policy and to effect a new proposal from him within three years from the date of such termination;

ix. No corporate agent shall have a portfolio of insurance business from one person or one organization or one group of organizations under which the premium is in excess of fifty percent of total premium procured in any year;

x. apply for fresh licence to act as an insurance agent, if his licence was earlier cancelled by the designated person, and a period of five years has not elapsed from the date of such cancellation;

xi. become or remain a director of any insurance company; (iii) Every CIF/SP shall, with a view to conserve the insurance business already procured through him, make every attempt to ensure remittance of the premiums by the policyholders within the stipulated time, by giving notice to the policyholder orally and in writing. (iv) No CIFSP shall hold similar position with another corporate agent of any other insurance company. v) Feedback received indicated that some CIFs/SPs who are also relatives of agents employed by SBI Life Insurance Co./New India Assurance Co. were engaged in mis-selling of insurance products, exposing the Bank to significant reputational risk. Booking of policies to the Bank’s customers through the Agency channel also results in loss of revenue to the Bank. With a view to protecting the Bank’s interests the contents of bank’s book of instructions, Volume 1, Chapter 1- Establishment and General Administration, Para 1, Annexure-I (VI)

194 1. An employee of the Bank may not act as agent for an Insurance Company otherwise than for or on behalf of the bank. Explanation: (i) canvassing by an employee in support of the business of insurance agency, commission agency, etc. owned or managed by a member of his family shall be deemed to be breach of this sub rule. ii) An employee guilty of infringing any of the provisions of paragraph may render himself liable to dismissal from the service (CC letter no. MCS/06-07/244 dated 30th March 2007)

195 5. Sharing of Customer Information (vide CC letter nos. BBU/MCS/Card/21/77 dated 21.07.2005 and PBBU/MCS/06-07/232 dated 12.03.2007) a) A number of branches are being approached of late by sales agents purporting to be Sales Executives of our subsidiaries. They have reportedly requested our branches to furnish details of Names, Addresses, telephone numbers, three months statements of accounts etc. and various other details of information regarding our customers. Branches are persuaded that the information is sought only for selling/cross selling Banks products and has the concurrence of the Controlling Office. b) It is reiterated that as per the extant instructions of Reserve Bank of India, it will not be proper to share customer data without the specific written consent of the customer. This applies even to our own subsidiaries. Branches should provide information in respect of the account including copy of the statements only on receipt of specific authority signed by the customer to furnish the information. Such written authority should be retained in the Branch and filed with the Account Opening form. c) This will not prevent the Branch staff from offering the products of our subsidiaries to our customers over the counter or through mailers, campaigns, melas and any other sales effort organized by the Bank. This also does not apply to CIFs, ACEs, SPs, RMPBs, OBSF etc, who have booked business for the Bank, obtained the customer’s signature and assent in the application form and then forwarded the customer’s data to a Subsidiary. d) Passing on addresses of customers to agents who are not fully aware of the sensitivity of the relationship with the branch and do not understand the customer needs fully, does not benefit the Branch. Our endeavour should be to Cross sell the products to our customers ourselves, thereby enhancing the value of our existing relationship and earns the Branch income by way of commission, brokerage etc.

196

Appendix

MASTER CIRCULAR MARKETING - CROSS SELLING LIST OF CIRULARS CONSOLIDATED IN THE MASTER CIRCULAR S.No. Circular/Letter

Number Date Subject

cif circular

Documents

Transcript of cif circular