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1 MAIN : CRA-10/ DT SUB : ANC.SER-08 a HO: Banking Operation Department FILE M-4 S-404 Policy on Doorstep Banking Our Board at the meeting held on , approved the Policy on Doorstep Banking of our Bank and adopted the same for the year A copy of the Board approved Doorstep Banking Policy is available for reference in the CBS Help Desk and it can be accessed by clicking Policies Policy on Doorstep Banking. All Branches, Zonal Offices & Head Office Departments are advised to carry out their functions as updated in the Policy on Doorstep Banking. R.Suresh Assistant General Manager (BOD)
2 POLICY ON DOORSTEP BANKING INDEX Point No. Subject 1 Preamble 2 The Scheme 2.1 Scope of the Scheme 2.2 Service Offered under the Scheme 2.3 Eligible Customers 2.4 Delivery Channel 2.5 Limits for Collection / Delivery of Cash 2.6 Service Charges 2.7 Operational Procedure 10 Cross Border Issues Precautions to be taken while extending Cash related services Role of Zonal Offices 3 Minimising Risks 4 Grievance Redressal Mechanism 5 Authority for future amendment to the Scheme 2
3 A scheme for Doorstep Banking is implemented as per the RBI guidelines and it was approved by Board at its meeting held on The scheme was communicated to all Zonal Offices on Preamble 1.1 Till March 2005 banks were not permitted to extend any banking facilities at the premises of their customers without obtaining permission from RBI. Subsequently, the restriction was relaxed to a limited extent by permitting banks to provide doorstep banking services only to Government Departments. 1.2 Accordingly, HO: CGT placed a Note to the Board on a common Scheme of Doorstep Banking for lifting of cash and collecting credit instruments, etc. from the premises of Central and State Government Departments and the proposal was approved by our Board in the meeting held on Now, RBI has decided to permit banks to extend doorstep banking to all types of customers including individuals. Though banks need not seek the permission of RBI for extending the Scheme, they have to follow the general principles and broad parameters laid down by RBI in this regard (vide RBI letter No. DBOD. BL. BC. 59 / / dated February 21, 2007). 1.4 Banks are further advised by RBI to i. prepare a scheme for offering "doorstep" banking services to their customers with the approval of their Boards; ii. take into account the various risks that may arise to customers directly or through agents and take effective steps to manage the same. iii. review the Scheme on a half-yearly basis, during the first year of its operation and subsequently on an annual basis. 2. The Scheme A draft Scheme was formulated and placed to TMC for discussion and approval. The features/details of the Scheme as approved by TMC in its meeting held on is given below. 2.1 Scope of the Scheme Doorstep services shall be offered only to those customers in whose case proper KYC procedures, as laid down in our circular GENL.03/ dt and subsequent circulars on the subject have been followed.
4 2.1.2 The services can be offered either at the residence or at the office of the customer, the address of which has been clearly and explicitly mentioned in the agreement The "Scheme" is not restricted to any particular client/customer or class of customers. 2.2 Services Offered under the Scheme: Pick up of Cash Pick up of Cheques and other instruments Delivery of Cash / Drafts at the doorstep of individual Customers either against Cheques received at the counter or requests received through any secure convenient channels such as phone banking / internet banking Delivery of Cash / Drafts at the doorstep of Corporate Customer / Government Departments / PSUs etc., against Cheques received at the counter or requests received through any secure convenient channel such as phone banking / Internet banking (2.2.3) and (2.2.4) are subject to adopting technology and security standards and procedures as envisaged by RBI. 2.3 Eligible Customers Corporate Customers, Government Departments, Public Sector Undertakings, Business firms and such other establishments can avail all the above services. Individual Customers/Natural persons can avail the first three services alone as mentioned in Para 2.2 above. 2.4 Delivery Channel Delivery of the services shall be done either through our employees or by engaging Business Facilitators/Service Providers Bank's own employees shall, normally, be used for Cash related doorstep services and Business Facilitators/Service Providers shall be engaged for pick up and delivery of cheques and other instruments Where the services of Business Facilitators/ Service Providers are availed, it should be ensured that the terms/parameters as set out in the Outsourcing Policy of the Bank as approved by the Board with reference to selection of Business Facilitators/Service Providers and payment of fee/commission, etc., are strictly adhered to. 2.5 Limits for Collection/delivery of Cash As per extant guidelines, where cash remittances are carried out, a Clerk/shroff along with a sub-staff shall accompany the same subject to the following: 4
5 i. Where the amount involved is ` 20 lakhs or below, there is no need for an armed guard; ii. Where the amount involved is above ` 20 lakhs but not exceeding ` 50 lakhs, an armed guard should accompany the cash; iii. Where the amount involved is above ` 50 lakhs but does not exceed ` 2 crores, two armed guards should accompany such remittances. iv. No cash remittance can exceed ` 2 crores on any one occasion. v. Limit for cash transactions for individuals should not exceed `1,00,000/- per occasion. 2.6 Service Charges All the services rendered under the 'Doorstep Banking' are subject to payment of the following minimum Service Charges, the quantum of which shall be fixed at the time of entering into the arrangement with the customer taking into account the place of collection/delivery and such other criteria For Cash pick up/delivery by using our staff Amount of cash Service Charges Cash handling Charges Conveyance Up to ` 20 lakhs ` 200 / per occasion As per HO guidelines Actual taxi fare Above ` 20 lakhs up ` 265 / per As per HO guidelines Actual taxi fare to ` 50 lakhs occasion Above ` 50 lakhs up to ` 2 Crores ` 330 / per occasion As per HO guidelines Actual taxi fare Notes: a. 10 per Km with a minimum of ` 200 is payable, if Bank's cash van is used. b. The above charges are exclusive of service tax Instruments pick up/delivery i. As the nature of job is merely that of a messenger, the same may be entrusted to reputed couriers with whom the Bank already has tie up arrangements. ii. For rendering the service, a flat rate of ` 50 per visit to the customer's place shall be charged. iii. Further the actual courier charges incurred shall also be recovered from the customer with service tax.
6 2.7 Operational Procedure The customer who intends to avail the Doorstep Banking services should make a request in writing which would inter-alia contain the services opted, place of collection/delivery, etc It is solely the discretion of the branch either to accept or reject every request of the customer for extending doorstep services Branches have to submit a proposal along with the customer's request to their Zonal Head seeking approval/sanction for extension of Doorstep banking service/s to the applicant The proposal should, amongst other things, contain a. the benefits that may accrue to the branch by extending the service to that client, b. man-power position, c. a confirmation that the routine services at the branch shall not get affected, etc Branches shall forward the customer requests with their recommendation to their Zonal Office. Zonal offices shall process the proposals as per norms and communicate their decision On receipt of approval from the appropriate authority, branches have to enter into an agreement with the respective customer in the prescribed format (D 115) as approved by HO: Legal Department. 2.8 Precautions to be taken while extending cash related services The security aspects with regard to cash movement shall be governed by the guidelines prescribed in the Manual of Instructions on Cash Handling and Management and Security Management Before accepting a request for cash pick up/delivery, branches should ensure that proper security infrastructure is available with them to carry out the service as requested by a customer In case the branch expects that the cash balance may exceed their limit by the picked up cash, then they may also have to ensure proper arrangement for remitting the same into a currency chest on the same day The existing insurance policy, as per HO: Accounts Department already has a clause covering collection/delivery of cash at the doorsteps of the customers. However, HO: Accounts Department should ensure that periodical renewal of the policy is done It should be the endeavour of the branches concerned to extend the service with the existing infrastructure. However, in special cases, Zonal Heads can also arrange for outsourcing of the same subject to the Bank's Policy and extant guidelines in this regard. 6
7 2.9 Role of Zonal Offices On receipt of proposals, the Zonal Head should examine the availability of infrastructure at the branch concerned for extending the service/s requested so that customer complaints shall not arise on this count. The services should be considered only to very valued customers Zonal Heads can outsource the services (collection/delivery of both cash and cheques/instruments) as per the outsourcing policy in vogue, after a careful analysis of the cost benefit Zonal Heads may also consider waiver or reduction in service charges provided all out of pocket expenses are recovered in full. In short, the expenditure incurred should be totally reimbursed without any loss to the bank on account of extending the doorstep services. 03. Minimising Risks 3.1 The risks which are likely to emerge may become specifically known once the Scheme is put into operation. To give a specific example, if cash is to be delivered at the doorsteps and the person who has tendered the cheque is not available for receiving, whether the transactions should be proceeded with need to be specified. Therefore, the guidelines to mitigate such risks would have to be incorporated in the agreement. 4. Grievance Redressal Mechanism 4.1 HO: Customer Service Cell shall be redressing complaints on the services rendered by the Agents/Business Facilitators under the Doorstep Banking Scheme. 4.2 All the Zonal Heads shall act as the designated Grievance Redressal officer of the respective Zone and the General Manager in-charge of HO: Customer Service Cell shall act as the Chief Grievance Redressal officer of the Bank. 4.3 The names and telephone numbers of these officers shall be made available to the customers both at the branch and also on the Bank s website. 5. Authority for future amendment to the Scheme 5.1 The Chairman and Managing Director or the Executive Director of the Bank shall be the authority for approving any future amendment/modification to the Scheme or to withdraw the Scheme either in part or in full and also for relaxation of any of the norms including Service Charges.
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