Corporation Bank. NRIs Monthly Newsletter. September 2016

Transcription

1 September 2016 NRIs Monthly Newsletter Corporation Bank [Type a quote from the document or the summary of an interesting point. You can position the text box anywhere in the document. Use the Drawing Tools tab to change the formatting of the pull quote text box.] 1 Corporation Bank Sandesh - NRI s monthly newsletter (For private circulation only)

2 News from India Urjit Patel to take over from Raghuram Rajan as RBI Governor Dr. Urjit Patel has been appointed as the 24th governor of the Reserve Bank of India for a three year term w.e.f. from SIM card-on-arrival for tourists on e-visa likely by September end. Foreign travellers to India arriving on e-tourist visa are likely to get a SIM card from September-end, with the Home Ministry giving its nod and roping in state-run BSNL for the purpose. The move is aimed at projecting India as a global tourist destination among foreign travellers as well as addressing the security concerns by equipping the tourists with mobile phones to make calls in case of any distress. Corporation Bank upgrades its Core Banking to FINACLE Our Bank is in the process of migrating to a new CBS platform in a phased manner. In the first phase, the following branches are being migrated to FINACLE. Zone Name BR. Code Branch Name Zone Name BR. Code Branch Name Udupi 1 Udupi Chennai 817 Kodambakkam Mangalore 3 Car Street Bangalore South 1042 Uttarahalli Bangalore South 69 Basavanagudi Mangalore 1199 Ashok Nagar Bangalore South 215 Srinagar Chennai 1211 Palavakkam Bangalore South 222 Shanthinagar Kochi 1774 Tripunithura Bangalore South 352 Sarakki Layout Bangalore South 2018 Banashankri Mangalore 462 Shakthi Nagar Mangalore 3140 Kulur Chennai 577 Nungambakkam-CPBB Mangalore 3265 Balmatta Bangalore South 704 Padmanabhanagar Chennai 3295 Thiruvanmiyur Bangalore South 746 Girinagar Mangalore 3350 Kottara Customers of these branches may contact their respective branches to obtain their new account number. Alternatively, our Internet Banking users can login to their account and click on the Know Your New CBS Account link and select the details in the pop up window to obtain their new account details or details of their beneficiaries maintaining accounts in the newly migrated branches. 2 Corporation Bank Sandesh - NRI s monthly newsletter (For private circulation only)

3 MCLR 9.50% Corp Home Loan Up to Rs. 2 Crore Above Rs. 2 Crore Floating Rate For all Tenors [max. 30 Years] 9.60% 9.85% Corp Vehicle Loan (For 4 wheelers) Floating Rate For all Tenors [max. 84 Months] Up to 50 Lakhs Above Rs. 50 Lakhs 10.15% 10.65% *MCLR - Marginal Cost of Funds based Lending Rate Fixed rates are also available. Kindly contact your branch for more details. Interest Rates are subject to change. Kindly contact the branch for prevailing interest rates. Interest Rates on NRI Deposit Schemes Interest rates on NRE Term Deposits are as under w.e.f Maturity Band Less than Rs.1 Crore [% per annum] Rs. 1 Crore & above 1 year to less than 3 Years years and above The Interest rate on FCNR (B) deposits w.e.f. 1 st September 2016 is as follows: [% per annum] Maturity Band USD GBP EUR AUD CAD 1 year to less than 2 years years to less than 3 years years to less than 4 years years to less than 5 years years Interest rate on NRE SB is at 4% p.a. Interest Rates are subject to change. Kindly contact the branch for prevailing interest rates. 3 Corporation Bank Sandesh - NRI s monthly newsletter (For private circulation only)

4 Avoid Tax Duplication- Use DTAA DTAA stands for Double Taxation Avoidance Agreement. It is an agreement between two countries with an objective to avoid taxation of the same income in both countries. NRIs who wish to avail DTAA benefit have to mandatorily provide Tax Residency Certificate (TRC) to the deductor (Bank). NRIs can approach the tax/government authorities of the overseas country where they reside to get the Form-10F certified. It may be noted that no other document in lieu of the TRC shall be considered for availing the benefits under DTAA. DTAA benefit is extended on an annual basis. Therefore, NRIs are required to provide all the requisite documents at the beginning of every financial year to continue availing the benefit under DTAA. You may download the DTAA application form and Form-10F from our website Know the id of your branch 15 digit account number ID 1234XXXXXXXXXXX 0123XXXXXXXXXXX Problem in receiving OTP Kindly drop an to our technical team at with subject as OTP PROBLEM. Our technical team will revert to you at the earliest. Update Mobile No./ & Stay Connected Regular update of Mobile No./ address at the Banks database enables you to make hassle-free transactions. It also helps you to easily track your funds. All you need to do is to submit an application for correction/updation of Mobile No. / address. Please contact your branch nearest to your Indian address for immediate updation of Mobile No. / . Sample format for Remittance of Money via SWIFT in Foreign Currency PAY TO (PAY BANK) CREDIT (BENEFICIARY) BENEFICIARY ACCOUNT & NAME (ULTIMATE BENEFICIARY) THE BANK OF NEW YORK ONE WALL STREET NEW YORK, NY SWIFT CODE: IRVTUS3N ACCOUNT NO: CORPORATION BANK, MUMBAI, INDIA SWIFT CODE: CORPINBBXXX (ACCOUNT No.) OF (Beneficiary Name) ** Kindly contact your branch of operation to obtain the SWIFT code. 4 Corporation Bank Sandesh - NRI s monthly newsletter (For private circulation only)

5 Our NOSTRO Accounts for Remittance of Money via SWIFT Currency Sl. Bank Name SWIFT Code Our A/c No 1 Wells Fargo PNBPUS3NNYC JP Morgan Chase Bank N.A. CHAS US USD 3 Deutsche Bank Trust Co BKTR US The Bank Of New York IRVT US3N Citi Bank NA CITI US Standard Chartered Bank SCBLUS GBP 7 Standard Chartered Bank SCBL GB2L EUR 8 Deutsche Bank, DEUT DEFF Commerz Bank AG COBA DEFF SocieteGenerale SOGE FRPP Standard Chartered Bank SCBLDEFX JPY 12 Wells Fargo PNBP JPJX SGD 13 DBS Singapore Ltd, DBSS SGSG SEK 14 SkandinaviskaEnskildaBanken AS ESSE SESS CHF 15 ZKB Bank ZKBKCHZZ80A CAD 17 Toronto Dominion Bank, TDOM CATT AUD 18 Australia & New Zealand Banking ANZB AU3M AED 19 Abu Dhabi Commercial Bank ADCBAEAA Exchange houses with whom we have tie-ups 1 UAE Exchange Centre, Abu Dhabi 10 Al Ghurair Exchange 2 UAE Exchange Centre, Kuwait 11 Emirates India Intl. Exchange 3 Bahrain Exchange Co. 12 Purushottam Kanji Exchange 4 Wall Street Exchange 13 Al Fardan Exchange 5 Al Zaman Exchange 14 Oman UAE Exchange 6 Al Rostamani Intl. Exchange 15 Al Ahalia Exchange 7 Al Ansari Exchange 16 8 Dubai Exchange Centre 17 9 U.A.E. Exchange Centre Agent-UAEFSL(MTSS) Wall Street Exchange Agent-Wall Street Finance Ltd(MTSS) U.A.E. Exchange Agent- Money Gram (MTSS) 18 Redha Al Ansari Exchange 5 Corporation Bank Sandesh - NRI s monthly newsletter (For private circulation only)

6 Our Offices NRI Cell, Head Office, Mangaladevi Temple Road Mangalore , Karnataka, India Tel: Tel: nricell@corpbank.co.in Chief Representative Office # 203, 2nd Floor, Toronto Building, P O Box No , Bur Dubai, UAE Ph: Fax: Mob: : (Shri Parthiv M Banker) Mob: : (Shri Neeraj Rakesh) cbdubai@corpbank.co.in Shri Kishore Pratap Siyag Relationship Manager, Corporation Bank UAE Exchange Sharjah Main Branch, Post Box No 3851, Sharjah UAE, Tel / Fax / Mob: kpsiyag@corpbank.co.in Shri Kovvuri U Ramalinga Reddy Relationship Manager, Corporation Bank UAE Exchange Mussafah II (Sector 12) Branch Opposite Zia pharmacy, Shabiya Sector 12 Mussafah, Abu Dhabi, UAE Fax Mob: / ramalingareddy@corpbank.co.in NRI Help Desk, 1 st Floor, Earnest Building Nariman Point, Mumbai , India Tel: nrihelp@corpbank.co.in (Representative Office) 907, 9th Floor, Printing House 6 Duddell Street, Central, Hong Kong. PH: FAX: ; Mob: (J.Vetri Selvan) cbhongkong@corpbank.co.in Shri Madhab Chandra Patra, Relationship Manager, UAE Exchange P.O. Box 1825, Manama, Kingdom of Bahrain, Mobile , Tel: , Ext-119, Fax: madhab@corpbank.co.in Treasury Branch, 15, Mittal Chambers, Nariman Point, Mumbai India Tel: , Fax: ibd@corpbank.co.in Treasury & Investment Department Head Office, Mangaladevi Temple Road Mangalore , Karnataka, India Tel: / / Fax: hotid@corpbank.co.in For any Suggestions/Queries/Grievances nricell@corpbank.co.in Website: Contact Number: / Disclaimer clause: The contents of this newsletter are based on information received from various sources and while compiling every effort has been made to ensure that the information is accurate and authentic. Corporation Bank does not accept any responsibility for interpretations of various rules or any errors/ omissions in the newsletter. 6 Corporation Bank Sandesh - NRI s monthly newsletter (For private circulation only)