Overview
This product will address banking requirements of Government departments/bodies/agencies in respect of grants/subsidies.
Government bodies handle a lot of financial transactions on a daily basis, such as passing on grants and subsidies to citizens, which could be ad hoc in nature, or in specific periodicities.
These will be done in accordance with policies and schemes as laid out by the government. This makes banking a key element in the effective working of government bodies, especially with day to day banking transactions, and cash management services.
Interest Rates and Charges
| Sr.No |
Feature |
Current Account for Government Departments |
|
1
|
Average Quarterly Minimum Balance(AQMB) |
NIL |
|
2
|
Cash Remittance |
| At Base Branch |
Free |
| At Non base |
Free |
|
3
|
Cash withdrawal |
| |
At base Branch |
Free |
| At Non base branch |
Free up to Rs. 1, 00,000/-per day.
Thereafter Re. 1/- per Rs 1000/- |
|
4
|
Inward Clearing Charges |
| At base Branch/At non base branch |
Free |
|
5
|
Outward Clearing Charges |
| At base Branch/At non base branch |
Free |
|
6
|
Inward Clearing Return Charges at base / non-base branch |
Rs. 100/- per cheque |
|
7
|
Outward Clearing Return Charges at base / non-base branch |
Rs. 50/- per cheque |
|
8
|
Collection charges for of Outstation cheques |
Nil |
|
9
|
Outstation cheque collection return charges |
Rs. 50/- per cheque plus other bank charges and out of pocket expenses if any |
|
10
|
DD/PO Charges |
Free |
|
11
|
RTGS and NEFT |
Free |
|
12
|
Quarterly FolioCharges |
Free |
|
13
|
Cheque Book |
Free |
|
14
|
Statement of account |
Free email statement |
|
15
|
Debit Card |
NA |
|
16
|
Stop Payment |
Free |
|
17
|
Net Banking Facility |
Free |
|
18
|
Transfer of funds between CBS
branches |
Free |
|
19
|
IMPS(Handy Pay) |
NA |
|
20
|
Charges for non- maintenance
of AQMB |
NA |
|
21
|
SMS Alerts |
Mandatory transaction SMS alert free, others chargeable. SMS will be sent in case there is any change in day end balances. |
|
22
|
Account Closure charges |
Free |
|
23
|
Standing Instruction |
Free |
|
24
|
ECS Return(charges/Penalties levied by destination branches for ECS(debit)returnsdue to non-availability of funds in customer account) |
Free |
|
25
|
Cash Management Service |
Available, as per agreement with the customer. |