CURRENT ACCOUNTS
RULES OF BUSINESS

1. Objectives :
The current accounts are opened to meet the needs of business community involving large transactions of business nature.

2. Who can open the Account :
The account can be opened by an individual, jointly with another individual, a firm, Partnership associations, Trusts Societies and Companies.

3. Introduction :
This account should be introduced by a person well-known to the Bank.

4. Amount of Deposit :
The account can be opened with a minimum balance of Rs .300/- and the same shall have to be maintained
at all times.

5. Period of Deposit :
The account can be continued for any length of period without any restriction.

6. Rate of Interest / Incidental Charges :
No interest is paid on the balance maintained in the account. The Current Accounts attract some charges.
Currently an incidental charge of Rs. 10/- per page of accounting entries is debited subject to a minimum of Rs. 10/-. These incidental charges are debited at the end of each half year.

7. Nomination :
The nomination facility is available only in respect of the individual account or a joint account.

8. Transferability of Account :
While account can be transferred from one Branch to another it cannot be transferred from one person to another. However at the instructions of the individual / joint account holder/s, the addition or deletion of another joint holder will be acted upon by the Bank.

9. Use of Specified Forms :
The account holder should use the account opening form, specimen signature card, paying in slips, cheque leaves issued by the Bank. While crediting amounts to the account separate challans for cash / cheques should be used. Such cheques when tendered should be crossed by the account holder. The applies to
drafts also. The Bank will issue cheques payable to BEARER and should the customer change it to
ORDER he shall do so at his risk and responsibility.

10. Issue of pass Book / Pass Sheet :
1. In view of computerisation pass sheets are issued. When pass books are issued depositors are requested to present the pass books at least once a fortnight or as frequently as possible and without fail on or as soon as possible after the 2nd March and 2nd September of each year in order that the closing entries for the half year may be made in them. The depositors should leave them at the Bank for at least three clear days to be written up.

2. Depositors should carefully examine their pass books / pass sheets as they are written and satisfy themselves that the entries made therein are correct, and that all entries are initialed. The Bank will not be responsible for any sum not so acknowledged in the pass book / pass sheet.

3. Depositors should in no case make any entry or correction in the pass book / pass sheet themselves.

11. Issue of Duplicate Pass Book / Pass Sheet :
In the event of loss of pass book the account holder should pay a fee of Rs. 10/- for issue of duplicate pass book and copying charges when necessary.

12. Collection of Local Cheques / Bills and Outstation Cheque / Bills :
While local cheques will be present at the Clearing at the earliest point of time, outstation cheques
will be sent for collection through our branches or through our agency banks which may entitle
considerable delay for receipt of proceeds. Likewise local bills, outstation bills may entail considerable
time for presentment /receipt of proceeds, Under no circumstances withdrawals will be permitted against uncleared credits through such credits might be posted in the ledger. Account holders must ensure
themselves that they are not drawing against the same. However in the event of the balance coming to
debited for any reason, the account holder should reimburse the Bank immediately on receipt of notice
from the Bank . interest on such debits will be debited to the account as applicable under clear advances.
It should also be noted that the Bank will not be responsible for the payment through oversight or in the
hurry of business of a cheque which might have been advised as last / mislaid / payment stopped cheques.

13. Return of Cheques Under Exceptional Circumstances :
It must be distinctly understood that :
(a) The Bank will take every precaution to see that all remittances and amounts paid in, of any nature,
in any manner and at any place for the credit in, of any nature, in any manner and at any place for the
credit of accounts, are correctly remitted or credited in the respective accounts, are correctly remitted or credited in the respective accounts. But if any cheque drawn against such remittances or credits happens
to be returned for any cause, the Bank will not be held liable for any damage arising there from.
(b) The Bank will not be responsible for any omission or delay in the despatch of transfer of remittance.

14. Right of Appropriation / Bank's Paramount Lien :
Under Bank's general lien the Bank has right to appropriate the money in the current account towards
the dues payable by the account holder / s under some other account to the Bank

15. Closure of in-operative / Undesirable Accounts :
Where an account remains in-operative for one year and over or where an account is operated by the
account holder/s with insufficient minimum balance or where cheques issued by the account holder/s are returned for want of "Full Cover" or acting in a manner prejudicial in the interest of the Bank such accounts
will be closed by the Bank with or without notice to the account holder/s and the balance, if any, will be remitted by a pay order to the account holder /s after deducting the necessary charges. The Bank reserves
the right to charge the service charges of Rs. 20/- where the account is in-operative for more than one year. Where the balance is below Rs. 300/- but more than Rs.20/- a service charge of Rs. 20/- P.A. will be debited. Where the balance in the account at credit is less than Rs. 20/-, the same will be adjusted towards service charges and account will be closed.

16. Closure of Account :
The account can be closed only by the account holder / jointly by all the accounts holders or as the
case may be. The unused cheques and the requisition forms for issue of cheques should be returned
to the Bank at the time of closing the account.

17. Others :
(a) The Bank will not be responsible to confirm the vernacular endorsement while collecting the cheque.
(b) The Bank does not correspond by letter or phone on matters relating to Current account to the account holders and they are requested to transact their business with the bank in person or through their agents.
(c) The depositors must give a confirmation of balance at the end of each half year acknowledging the correctness of the closing balance in their accounts in the prescribed form of the Bank.

18. Bank's Right to Alter the Rules :
The Bank has got the right to alter the rules in this behalf and the account holder is bound by such
alterations in the rules.



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