A REPORT ON
THE SANGRUR CENTRAL COOPERATIVE BANK LTD. SANGRUR
BRANCH OFFICE: BHATTIWAL KALAN
As a part of curriculum of the degree
BACHELOR OF COMMERCE [B.COM]
GURU TEG BAHADUR COLLEGE, BHAWANIGARH
(Affiliated To Punjabi University, Patiala)
I Certify that this Project “THE SANGRUR CENTRAL COOPERATIVE
BANK LTD. SANGRUR BRANCH OFFICE: BHATTIWAL KALAN”
Submitted to GURU TEG BAHADUR COLLEGE, BHAWANIGARH affiliated
to Punjabi university, Patiala in fulfillment of the award of Bachelor of
Commerce, is a record of in dependent research of and carried out by
Jeevan Kumar under my supervision and guidance.
I hereby declare that project report entitled “THE SANGRUR
CENTRAL COOPERATIVE BANK LTD. SANGRUR BRANCH OFFICE:
BHATTIWAL KALAN” submitted in the partial fulfillment of the
requirement for the degree Bachelor of Commerce (B. Com) to
Guru Teg Bahadur College, Bhawanigarh affiliated to Punjabi
university, Patiala is my original work and has not been
submitted for the award of any other degree, diploma or
SUBMITTED TO SUBMITTED BY
B.COM 3th Sem
Cooperatives have played a vital role in improving the economic
conditions of farmers and accelerating the pace of development in
Punjab. Cooperative principles ensure harmonious development,
through democratic management and governance. Cooperatives
have brought both the services and resources at the doorsteps of
villagers in Punjab. These have been enthusiastically serving the
people of Punjab in areas such as agriculture, housing, sugar
production and dairy etc. The performance of Cooperative
Movement in Punjab, is very impressive. Cooperatives constitute
the major source of institutional credit for agriculture. Cooperatives
are playing a pivotal role in socio-economic development of the
State. These are key instruments of the State to develop and
sustain its rural economy, which is primarily agrarian. The
Department of Cooperation has accelerated Cooperative
movement in Punjab.
I sincerely record my appreciation to all, while contributing in
preparing this report with suggestion and critical evaluation. I am
extremely thankful to Mr. Jeevan Kumar who zestfully monitored
the growth of this project. From time to time, he guided me in
the right direction and took care that I had enough time to
complete this project. As an amateur in this field, I am indebted
to those who have readily responded to my request for expert
Promotion and sustenance of economic interest & providing easy
finance, cost effective and quality banking services ot customer &
The Punjab State Cooperative Bank was established on 31st
August, 1949 at Shimla vide registration No. 720 has a principle
financing institution of the cooperative movement in Punjab. In
1951 its Head Office was shifted to Jalandhar from where it
moved in 1963 to its present building at Chandigarh. In the
cooperative Banking structure, the position of the Punjab State
Cooperative Bank is extremely important as the whole credit
system revolves around it. It has 19 branches and 3 extension
counter in Chandigarh. There are 20 District Central Cooperative
Banks having 808 branches/extension counters all over Punjab,
mostly in rural areas of the State.
CHAPTER 1: DEPOSIT ACCOUNTS: GENERAL.................................................................................................8
CHAPTER 2: SAVING BANK ACCOUNT.........................................................................................................19
CHAPTER 3: WITHDRAWAL.........................................................................................................................25
CHAPTER 4: CURRENT ACCOUNTS..............................................................................................................27
CHAPTER 5: JOINT ACCOUNTS....................................................................................................................31
CHAPTER 6: TERM DEPOSITS ......................................................................................................................33
CHAPTER 7: ANNUAL RETURN ....................................................................................................................36
CHAPTER 8: RECURRING DEPOSITS............................................................................................................38
CHAPTER 9: AMOUNT AND PERIOD OF DEPOSIT........................................................................................41
CHAPTER 10: REMITTANCE OF INSTALMENT..............................................................................................44
CHAPTER 11: PAYMENT OF CHEQUES ........................................................................................................47
CHAPTER 12: SCHEMES...............................................................................................................................52
CHAPTER 13: SETTLEMENT OF DEATH CLAIMS...........................................................................................63
ACCOUNT OPENING FORM
Opening of an account implies contractual obligations between
banker and customer. Therefore, the account opening form and
other prescribed forms should be checked by the officer concerned
to see that these are correct and complete in all respect.
Filling in Account Opening Form in the presence of bank official
The first and most important thing in opening of an account is that
account opening form (AOF) must be filled up only in the bank and
that also in the presence of officials of the bank.
Filling in details in Account Opening Form (AOF)
Account opening form shall be filled up either by the customer or
alternatively by the official of the bank. All columns of the AOF shall
be filled up and no column shall be left blank. Struck off the column
which is not applicable. Name. Parentage and address shall be
taken on the AOF. Specimen of signature shall also be obtained in
the requisite column. Any alternation or cutting in the AOF shall be
authentication by the customer(s) with full signatures. A specimen
of AOF is given at Annexure 1.1(a) and 1.1(b).
Special Feature of filling up of AOF
a. AOF shall be filled up in the presence of the official of the bank.
b. Name: Full Name(s) of the person(s) desiring to open the
account shall be obtained. In case of account of firm. company,
institution etc., the nature of the firm etc. shall be obtained in
detail. Bank shall also obtain full names of the persons authorised
to operate upon such account.
c. Occupation: The account holder shall describe his occupation in
detail. Description such as business, service trade or industry will
not serve the purpose. It shall be described as Account Officer in
Prem Chand Industries Ltd. or Prop. of Rama Trading Co. etc.
i. If the account holder is in service all details such as his
designation, home address along with telephone number, if any,
ii. In case of married women, name address and occupation of the
husband may also be obtained.
iii. In case of businessman, nature of his business and residential
address shall be obtained Names of the other banks with whom he
is dealing may also be obtained.
iv. It is most important that all the above information may be
gathered from the customer in a diplomatic way without making
an impression that in inquisitorial inquiries are being made.
d. Address: Address obtained shall be complete i.e., Name, House
No., Floor No., Street No. Village and Post office (VPO) Name of
District, City, Town and Pin code are to be recorded in the AOF to
avoid the benami or fictitious accounts. If the account holder has
telephone either at place of business or residence it shall be
recorded. Branches are advised to obtain any of the following
documents to ascertain the address of the account holders.
1) Permanent Account Number (PAN)
2) Driving License
3) Identity Card issued by Election Commission
4) Identity Card issued by the employer
5) Ration Card
6) Passport by Regional Pass Port Office
7) Copy of the Electricity Bill or Telephone Bill showing residence
8) Any other documentary evidence in support of his address given
in the declaration
e. Specimen of Signature of all account holders must be taken in
the presence of not only the bank official but also the introducer.
f. Special instruction with regard to operation and disposal of
account, if any, must be recorded in the account opening form.
g. Whether the account holder would like to avail himself of
nomination facility should be ascertained and indicated in the AOF
Account holder should be advised to avail nomination facility. If it
is declined by account holder, it should be got recorded in account
NOMINATION IN RESPECT OF DEPOSIT ACCOUNTS
Under the Banking Laws (Amendment) Act of 1983 and as per the
Cooperative Banks (Nomination) Rules, 1985 which have come into
force since 29.3.1985, nomination facilities to banks' customers
are available in respect of all types of deposit accounts.
Nomination facility available for all types of deposit accounts
Nomination facility is available for current, saving and all
types of term deposit accounts.
Nomination can be given to a single person only: A depositor
or depositors jointly can nominate one person only.
Nomination form DA-1
a) Nomination is to be made by depositor or all the depositors
together as the case may be in Form DA-1 only. All the depositors
have to sign on DA-1 form. The specimen of DA-1 form is attached
as Annexure 1.7. However. DA-1 form is printed on Account
b) The nomination made by the depositor should be entered in the
Nomination Register' as explained in para 1.7.12.
Nomination can be made only in respect of accounts held in
Nomination can be made only in respect of accounts held in
individual capacity. Accounts held in representative capacities like
secretary of an association/society, trustee of a trust or Karta of
HIF, cannot make nomination of such accounts.
Nomination facility not available for sole proprietorship account
Even though sole proprietorship accounts are treated for all
practical purposes as an individual account, nomination facility is
not extended to these accounts. Hence branches should not obtain
nomination from the sole proprietorship account holders.
The pass book is a small handy book issued by a hanker to his
customer to record all dealings between them. In fact, it is an
authenticated copy of the customer's account in the account books
of the bank. The purpose of issuing a pass book to the customer is
to acquaint him periodically with the state of affairs of his account
with the bank. The pass book also contains rules and regulations
governing the saving account.
Issuing of pass books and periodical statements
For all operative accounts i.e., Saving Bank/Current
Account/Recurring Deposits accounts. pass book is issued for the
use of the account holder. At the time of opening the account, a
pass book should be prepared by the ledger keeper. The name,
occupation, address of the account holder and the account number
allotted to the account with the type of account() or S, etc.) should
be boldly written in the space provided, which should be checked
and signed by the officer. The branch should get an
acknowledgment from the party for loving received the pass book,
in a pass book issue register maintained for that purpose. In
respect of current account if the customer desires, instead of
issuing pass hook, periodical statement of account (weekly,
fortnightly or monthly as desired by the customer) may be
Procedures for making entries in the pass books
The customers should be advised to present the pass books for
updating at frequent intervals. e.g., for saving accounts at least
once in a fortnight. Before entering in the pass book the ledger
keeper should verify that he is coping the particulars of correct
account. Entries in pass book should contain sufficient particulars
Pass book should be written in a neat and legible manner and
cuttings and overwriting should be avoided. The Credits/Debits in
each page should be totalled and such totals should be carried over
to the next page. No entry in a pass book should be initialled by an
officer unless he has satisfied himself that all previous entries have
been entered in the pass book and that the balance of the account
in the pass book agrees with the balance in the ledger account.
Issue of continuation passbook
When the original pass book is fully used up, a continuation
passbook should be issued to the account holder. The account
number and all other details should be written in the continuation
passbook. The fact that a continuation pass book has been issued
should be written boldly on the ledger folio also.
Generally speaking, minor is a person who has not attained the age
of 18 years. But if guardian is appointed by a court, before he
attains age of 18, he continues to be minor till he 21 years. Minor
account can be operated upon only by the guardian of the minor
because the minor has no power to contract under the Indian
Guardian of the minor
a) Natural Guardian
i) Natural guardian of Hindu child under Hindu Majority and
Guardianship Act 196 as under:
1) Father during his lifetime is a natural guardian. RBI has
permitted mothers a natural guardian. See para 2.6.2
2) In the case of death of the father, mother is a natural guardian.
3) In case of minor married girl. husband, if major, is a guardian.
ii) In case of Parsis and Christians:
1) Father is a natural guardian.
2) After the death of father, mother is a guardian.
iji) In case of Muslim child under Mohammedan Law. father is the
guardian of minor
After the death of father, following persons are entitled, in order
mentioned below to be guardian of minor.
1) the executor appointed by father's will.
2) the father's father.
3) the executor appointed by will of father's father.
It must be noted that in no event can the mother act a natural
guardian of Mohammedan child.
b) Guardian appointed by court
In the absence of any guardian as explained above guardian will
be appointed by court.
RBI guidelines a) RBI has permitted the mother to operate upon
the account of the minor even when the father is alive.
b) RBI has allowed that minor of the age of 12 years and above
can operate their account themselves provided they are literate
and can sign the documents.
c) Overdraft or loan against deposit accounts should never be
allowed to minor's.
Date of birth of minor
a) Date of Birth of minor should be as disclosed by the guardian.
No proof should be insisted upon.
b) Date of Birth shall be recorded in account opening form as well
as in the ledger.
Minor's account to be operated in representative form and on
behalf of the minor with the following certificate:
"Amount sought to be withdrawn is for the use and benefit of the
minor who is alive this day."
Operation of account at the time of majority
When the minor attains the age of majority, he only should be
allowed to operate upon the account himself. Specimen signature
of the minor should be verified by the guardian who was operating
the account. In case of death of minor's guardian after the minor
attains majority but before he is allowed to operate upon the
account, specimen signature should be attested and verified by a
respectable member of family or society. A fresh set of application
should be obtained and kept along with original application. A
notice may be served to the guardian advising the ceasation of his
operation of account on attainment of majority of the minor.
Cheque book to minor
No cheque book should be issued to minor. He has to come in
person in the bank for withdrawals.
Opening of minor's account in ledge
An account in the name of minor should be opened in the ledger in
the following form:
Baljit Singh (Minor)
by father as guardian
Sh. Kesar Singh
appointed by court
Sh. Kartara Singh
Baldev Singh (Minor)
The date of birth of minor should also be recorded in the ledger.
While opening account of illiterate person following procedure is
All rules of operation and maintenance of account should be
explained to the person in the Janguage he understands
The literate customer should be advised to come to the bank
personally to operate upon the account and cheque book should
not be issued to such person in any case
Left hand thumb impression for male and right-hand thumb
impression for female should be chained on the account opening
form in the presence of officer of the bank. The manner of asking
impression, should, however, such as not to amudge the line in the
impression and the impression should be up to the ridge and the
thumb should not he rolled.
Two copies of the passport size photograph should be obtained.
One copy should be pasted the pass book and other copy on the
account opening form. These photos should be attested in such a
way that half the signature of the attesting person is on the photo
and half on the passbook specimen cand, so that these photos
cannot be changed subsequently
Mode of payment
Payment to illiterate person should always be made on the
withdrawal form. It is preferred that withdrawal form of illiterate
person should be filled in by ledger clerk and passing officer must
the oral confirmation from the customer regarding the amount
before passing such
Mark on ledger and AOP
As shall be marked as illiterate account both on the ledger as well
as account opening
the account of illiterate person with literate Opening of count of
illiterate person with literate person should only be allowed with
Saving Bank accounts, as the very name suggests, are intended
for saving for the future. This is the most common type of account
which caters to the needs of vast section of people in the society.
These accounts promote savings habit of people. Balances in this
type of account earn interest by the depositor. This account is a
form of demand deposit account. The term "saving bank accounts"
referred to in this chapter includes both the categories of savings
accounts, viz... savings accounts with cheque book facility and
savings accounts without cheque book facility. Instructions in this
chapter are equally applicable to both these categories of savings
accounts unless the context indicates to the contrary.
WHO CAN OPEN SAVING BANK ACCOUNT
Individuals Saving bank account can be opened by the followings
i. Single person in his own name.
ii. Two or more person's in their joint names to be operated in the
a. Either or Survivor.
b. Jointly/Jointly or Survivor
c. Any one or Survivors or Survivor
d. Former or survivor
(For detail instructions for dealing with these accounts, please refer
to Chapter 2 'Opening and operation of deposit account.)
Minor accounts in the bank can be opened and operated in two
ways i.e., either operated by minor himself/herself or operated by
the guardian of minor.
Operations by minor himself
RBI has permitted that a minor who is above the age of 12 and
who can understand the operations of the account and is literate
(school going) can open and operate saving bank account in his/her
own name. Such account can also be opened by two minors jointly
with joint operations only. No overdraft is allowed in this account.
Minor account operated by guardian
Bank can also open a saving bank account in the name of minor by
his guardian either jointly with the minor or singly to be operated
upon by the guardian. Guardian can either be a natural guardian
or as appointed by the competent court. For further details on
opening and operation of deposit account of minor please refer to
Chapter 2 'Opening and operation of deposit account' under
heading "Minor accounts".
Opening of account in the name of illiterate/blind persons
Illiterate and blind persons are permitted to open saving bank
account. For details on opening of account in the name of
Illiterate/Blind person please see Chapter 2 'Opening and operation
of deposit account heading "Illiterate and Blind persons".
Opening of account in name of Club, Societies, Association
Club, societies, association, schools, colleges, religious and other
charitable institution are permitted to open saving bank account
with the bank subject to eligibilities as per instructions of RBI
issued from time to time. For further detail to open such account,
please refer to Chapter 2, Opening and operation of deposit
Opening of account in the name of H.U.F. Executor/Administrator
Etc. HUF. Executor, Administrator, Joint Stock Companies can open
saving bank account for special purpose only but for not conducting
their usual business with the prior permission of head office.
Payment of interest is subject to the directions of RBI issued from
time to time. For detail instruction please refer to Chapter 2
'Opening and operation of deposit account.
Institutions which are eligible to open saving bank account
In terms of RBI directive, saving bank accounts opened in the name
of any trading or business concern, whether such concern is a
proprietary or a partnership firm, a company or an association,
would not be eligible for any interest. The RBI, however, has
exempted certain agencies/institutions from this prohibition on
account of their activities aiming towards service of the weaker
sections of society. Accordingly, the following institutions
organizations are eligible for earning interest on their savings bank
accounts on the usual terms
Primary Cooperative Credit Societies.
Small Farmer Development Agency (SEDA)
iii. Marginal Farmer and Agri-Labor Agency (MFAL)
iv. Drought Prone Area Programme (DPAP)
v. Agricultural Produce Market Committee
vi. District Rural Development Agency (DRDA)
vii. Fish Farmer Development Agency (FFDA)
viii. District Development Authority (DDA) ix. Integrated Rural
Development Programme (RDP)
x. Integrated Tribal Development Agency (TDA)
xi. Khadi and Village Industries Board (KVIB)
xii. Societies registered under the Societies Registration Act 1860
or any other corresponding law in force in a state or a Union
xiii. institution other than those listed below under head
"Institutions which are not eligible to saving bank account" and
whose entire income is exempted from payment of Income Tax
under the Income Tax Act 1961.
xiv. Companies under Companies Act 1956, which have been
licensed by Central Government under Section 25 of the said Act,
or under the corresponding provisions in the Indian Companies Act,
1913 and permitted not to add to their names word "Limited" or
xv. Any other institution permitted by the RII from time to time.
Withdrawals through specific form of the bank Withdrawals from
the saving bank account are permitted only by cheque/withdrawal
form provided by the bank. Bank rules provide that total number
of withdrawals from the account shall not exceed 60 per half year.
If the number of withdrawal exceeds to this number, it is not that
account holder should not be allowed to withdraw, but service
charges as decided by the bank, should be charged to the account
when payment of interest is made to the account half yearly. The
service charges so collected shall be credited to commission
charges. Payment both by withdrawal form and cheque count for
the number of withdrawals.
Posting and passing of withdrawal form/cheque
The withdrawal form/cheque is posted into the personal ledger by
the ledger keeper/clerk and is passed for payment by the passing
officer. For details of posting in the ledger and passing by
supervisory officer please refer to Chapter 10 "Payment of Cheque"
Current account is a running account which may be operated upon
any number of times during a working day. It caters to the needs
of business people who make use of the cheque facilities
extensively and also receive cheques in their favour. However,
there is no restriction that only a business people can open the
WHO CAN OPEN CURRENT ACCOUNT? Person in his own name
i) Two or more persons in their joint names with operations as
Either-or Survivor. Jointly/Jointly or Survivor, Anyone or Survivors
ii) Cooperative Societies, Proprietary concern. Partnership firms,
Limited Companies. Joint Stock Companies, Clubs, Religious
institutions. Associations, Provident funds societies. Executors and
Administrators, Govt. Semi government departments. Local
Note: Instruction given at the time of opening of joint account will
strictly be followed up in operation of account. However, these
instructions can be altered varied by all the account holder at any
time during the operation of the account.
WHO CANNOT OPEN CURRENT ACCOUNT?
Current Account should not be permitted in the name of minor in
general. But account opened in name of minor to be operated upon
by natural guardian/guardian appointed by court may be allowed
by the bank. But under no circumstances, over draft shall be
allowed in such cases.
Pardanashin lady is a woman who observe parda and keeps
secluded from the general public as per the custom of their
community. As the parda woman remains secluded is very 64.12
Statement of Account/Pass Book
A statement of account passbook should be issued to the account
holder periodically. If the account holder desires to get it earlier, it
must be issued Computerized branches may hue the statement on
last day of the month. Where passbook is issued it must be
completed whenever it is presented in the bank.
Frequency of statements
Where transactions in the account are large, frequency of the
statement to be sent may be fortnightly weekly as is convenient
Preparation of statement of Account/Pass Book
Statement of account/passbook is the true copy of the account as
maintained in the personal ledger of the bank. In case passbook is
issued, all debit and credit entries as well as balance should be
legibly written in pass book. All details such as cheque should also
be mentioned, however payee of the cheque need not be
mentioned. Statement of account/pass book prepared by the
ledger keeper must be tallied by the passing officer and he should
sign it also. If the account is overdrawn, debit balance in the
account must be shown in red ink Summations debit/credit entries
shall be made on the statement of account and balance must be
tallied before it is issued to the customer.
Duplicate Pass Book
Request for issue of duplicate pass book/statement of account
must be considered as explained under the head "Issue of
Duplicate Pass Book" in Chapter 3-para 3.14.
Account opened in the name of two or more individuals are known
as joint accounts.
Account opening form
For opening current account in the name of two or more persons,
account opening form meant for individual should be obtained duly
filled in and signed by all the joint account holders. The specimen
signature of all the joint account holders should be obtained on
specimen signature card.
Who are eligible to open term deposits All persons discussed in the
Chapter 2 are eligible to open term deposit account with the bank
Special points to be observed while opening and conducting of term
deposits Special points to be observed while opening and
conducting term deposits for the account holders are detailed
Single name of minor
Minors alone of the age of 12 years and above can open term
deposits in their own name to he operated by them. Discharge
given by the minor to the bank on the repayment of deposit to him
is a valid discharge. Even repayment of this deposit before the due
date can be made. if the discharge of the minor is properly
In the single name of minor represented by guardian Term deposit
in the name of minor to be operated by guardian can be opened.
If the payment of maturity amount is made to the guardian, it will
be payment in due course. But proper undertaking that the
proceeds will be used for the benefit of the minor must be obtained
while making payment to the guardian. He is to receive payment
for the use and benefit of the minor, such payments made by the
bank to the guardian of minor cannot be challenged by the minor
neither during his minority nor after attaining majority for not
being utilized for his benefit.
b) Joint account with clause either or survivor/anyone or
In case the term deposit is either or survivor/anyone or survivor of
survivors, loan/foreclosure is entertained when all the joint account
holder applies for it. In the event of death of one of the account
holder, request shall come from all the surviving joint account
holder(s) along with their legal heirs of the deceased. In order to
remove such disability on the part of surviving joint account
holder(s), the following enabling clause shall be included in the
account opening form itself.
"We agree that the clause repayable to either or survivor/anyone
or survivors includes the right to the survivor(s) to apply before
the date of maturity for repayment or for credit facilities against
the security of the deposit."
If the either-or survivor deposit account is to be renewed, renewal
can be made only if all the depositors agree in writing. However,
the branches may face practical difficulties in obtaining signatures
from all the joint deposit holders for renewals.
ANNUAL RETURN (RULES 37, 37AA)
An annual return of tax deducted at source from interest is to be
submitted by the branches to the Assessing Officer under whose
jurisdiction the branch/office is situated. The return will be subject
to scrutiny by the Income Tax Department. They may call for the
necessary details/books for this purpose. The following forms for
filing annual returns are to be used:
Particulars Form No.
1. Annual Return
(Where tax is deducted)
2. Where interest is paid without
deduction of tax at source
after obtaining declaration in
The above annual returns are to be furnished directly by the
branches (i.e., they need not send the same to H.O. for onward
transmission to Income Tax Office) to the concerned Income Tax
Office within the time stipulated above.
Recurring Deposit, commonly known as RD, is a unique term-
deposit that is offered by Indian Banks. It is an investment tool
which allows people to make regular deposits and earn decent
returns on the investment. Due to the regular deposit factor and
an interest component, it often provides flexibility and ease of
investments to users/individuals.
However, it is essential to know that RDs are different from Fixed
Deposits/FDs. RDs are flexible in most aspects. An RD account
holder can choose to invest a fixed amount each month while
earning decent interest on the amount. RDs are an ideal saving-
Most major banks in India offer Recurring Deposit Accounts, with
a term that often ranges between 6 months to 10 years, also
providing individuals with the opportunity to choose a term
according to their needs. However, the interest rate, once
determined, does not change during the tenure; and on maturity,
the individual will be paid a lumpsum amount which includes the
regular investments as well as the interest earned.
Features of a Recurring Deposit Account
Recurring Deposit schemes aim at inculcating a regular habit of
saving in people
The minimum amount for deposits often varies from one bank to
another. You could invest with an amount as small as Rs. 1000.
The minimum period of deposit is six months, while the maximum
period of a deposit is 10 years
The rate of interest is equivalent to that offered for a Fixed Deposit.
Therefore, the interest rates are higher than Savings Account.
Premature withdrawals are However, depending on the bank, they
may allow you to close your account before the maturity period on
A Recurring Deposit can be funded periodically through Standing
Instructions that are usually instructions given by the customer to
the bank, to credit the RD account every month from his/her
Savings or Current Account.
9.4 AMOUNT AND PERIOD OF DEPOSIT
Amount of deposit
A recurring deposit is accepted with a minimum monthly
installment of Rs 100- and in multiples of Rs. 10/- thereafter.
Period of deposit the minimum period of recurring deposit is 6
months and maximum period is 120 months with multiples of 3
The maturity value (i.e., the amount payable at the end of the
period of deposit, comprising the principal and interest accrued
thereon) can be calculated from the Interest Charts supplied to the
branches (Annexure 9.1).
OPENING OF RECURRING DEPOSIT ACCOUNT
Account opening form
Account opening form available with the branches for this purposes
should be used for opening the account. See Annexure 1.1 (a) and
(b). All particulars such as name, parentage address, occupation,
amount of monthly installment, period of deposits, as the case may
be should be properly filled up in the columns provided for. Please
refer to para 1.1 of Chapter 1 for detail
Introduction of account Introduction is required in recurring deposit
account. For detail, please refer to para 1.2 in Chapter 1.
Photograph is obtained in recurring deposit account in certain
cases. For detail, please refer to para 1.3 in Chapter 1.
Opening account in personal ledger
When the account opening form is complete in all respect and
proper introduction of the account is obtained as well as the 1st
installment is deposited by the depositor, the ledger keeper should
open the account in the account opening register (see para 3.1)
and allot account number to the customer. Once the account
number is allotted, he should open the account in the personal
ledger (Annexure 9.2) of the customer. All particular i.e., Name
Parentage, Address, Amount of Installment, Period of Deposits,
Maturity value and rate of interest should be noted on the ledger
folio. For other details please refer to Chapter "Maintenance of
REMITTANCE OF INSTALMENT
Date of instalment
Instalments are to be deposited every month on or before the last
working day of each month to which it relates. Instalment
deposited in the calendar month to which it relates is treated as
instalment paid in time. Suppose a recurring deposit account is
opened on the 1st January. The next instalment is due in the month
of February of that year. If it is deposited even up to 28 February,
it is taken as paid in time. Thus, instalment when paid on any date
from 1st of day of that month till last day of the month deemed as
instalment deposited in time.
Mode of remittance of instalment
Instalment can be paid in cash, by cheque or by giving standing
instructions to the Bank to transfer the monthly installments from
the depositor's Saving Bank or Current Account or from the interest
earned on Fixed Deposit. The depositor may issue instruction to
the bank to transfer the monthly instalment out of his account. In
such case it will be the duty of the bank to transfer the amount on
due date. The customer would not be held liable for any fault for
delay in transferring of money on the part of the Bank. However,
if the customer does not maintain sufficient balance on due date,
then he/she is liable for penalty.
Remittance by cheque
Cheques drawn in favor of the depositor may also be accepted for
credit to his/her recurring deposit account, but the credit to the
account should be given only after realization.
Obligation of bank to honor cheques While opening an account of
the customer, the banker takes a statutory obligation on itself to
honor the cheques drawn by the customer on his account. The
cheque issued by the customer on its banker is a written order to
the bank to pay the amount from his account as per instructions of
Scrutinize the cheque presented for payment Before making the
payment of the cheque the banker must scrutinize the cheque
properly. This chapter deals with the points to be observed while
scrutinizing the instruments/cheques.
FORM OF CHEQUE
Cheque must be drawn on the printed forms only supplied by the
bank. The bank has right to refuse the payment of cheques drawn
otherwise. In case of saving bank account withdrawal form is also
used to withdraw money from the account. In some exceptional
cases the bank may consider the request of the customer in written
Refusal of cheques containing extraneous matter
Cheque should not contain any extraneous matter like 'towards
premium on policy etc. The branches should refuse the payment of
Writing of cheque
1) Cheque should be written with non-delible ink. Ball point pen
can also be used for writing of cheque. But customer may be
discouraged to issue typed cheque as these cheque are more prone
a) Cheque e can be written in two different languages. Such cheque
can be paid provided it is in order otherwise.
BRANCH DRAWN ON CHEQUE
Cheque can be presented for payment only on the branch where
the customer is maintaining the account. Only the branch which is
maintaining account of the customer can make payment of the
cheque. So, it should ensure that it is drawn on our branch
DATE OF CHEQUE
Date of the cheque is a material part of it. An undated cheque
should not be paid as it does contain complete order of the drawer.
A cheque presented for payment should not only be dated but must
bear the proper date. For this purpose, following point should be
a) Date of presentation: The cheque presented for payment may
bear the date of presentation or a date prior to the date of
presentation or a future date. The bank can safely pay the cheque
which bear the date of presentation or a date prior to presentation
but not prior to six months. Cheques bearing featured date will not
b) Postdated cheque
A cheque which bears the date which is subsequent to the date of
presentation is a post-dated cheque. For example, a cheque
bearing date 21.11.2000 is called post dated cheque if it is
presented for payment on 11.11.2000. Such cheque should not be
paid before the date is bears. The order of the drawer is to pay the
amount of the cheque on the date of cheque. So, any payment
made by the bank before the date of the cheque is not authorised
by the customer and bank cannot debit the account before that
c) Stale or antedated cheque
Antedated is the cheque which bears the date which is prior to date
of presentation. If a cheque bears the date which is six months
prior to the date of presentation, is called stale or out of date
cheque. The banks do not make payment of cheque which are stale
or out of date le cheque which is presented for payment after more
than six month from the date of issue of the cheque. A cheque
dated 1.1.2000 cannot be paid after 1.7.2000. So, bank should
refuse payment of such cheque which is having date more than six
months prior to the date of presentation. However, such cheques
can be paid after revalidated by the drawer under his signature as
in the record of the bank.
Writing of payee's name
The name of the payee should be clearly and unambiguously
written in the cheque
Payment of cheque to the joint payees/any one of the payees A
cheques drawn in favour of two or more persons (i.e., Shamash
Chand and S6, Gian Chand) should be paid to them jointly. Where
the cheque is in favour of alternative payees (i.e., Shamash Chand
or Sh. Gian Chand) payment can be made to either anyone of
If an order cheque is made payable to a fictitious person i.e., Lord
Krishna, or Lord Rama, it may be treated as payable to drawer.
Such cheques should be paid to the drawer only when they are
discharged by the drawer himself.
Payment of cheques in favour of limited companies/trust account
etc. No cheque drawn in favour of companies, trust, school,
colleges etc. should be paid to the third party because it is the
usual practice to credit the cheque to their account.
A cheque drawn 'pay to A only shall be paid to A only. The word
only restricts the negotiability and transferability of the cheque.
So, the bank should pay such cheque to the payee only.
AMOUNT OF CHEQUE
Amount written in words and figure differs Amount of the cheque
has very great significance. Amount of cheque is written both in
figures and words. Both the amount expressed in words and figure
must tally otherwise the bank will refuse the payment of the
cheque. Section 18 of Negotiable Instrument Act, 1881 states that
if there is a discrepancy in the amount expressed in words and
figures, the amount expressed in words should be taken as amount
ordered to be paid.
Special Settlement Scheme-2006
Opportunity to the borrower defaulters in ST Agri. loans and
Opportunity to the borrower defaulters for more than five
years to clear.
Opportunity to clear Non-Performing Assets (NPA).
Reduction in cost and time for recovery.
Interest up to principal amount is to be reversed.
To encourage and assist genuine defaulters.
To facilitate mutually accepted reconciliation and settlement
of dormant loan accounts.
To provide Buy Back facility for decreed property.
Members/Ex-employees involved in embezzlements.
Members whose land has been purchased.
Short term loans converted into medium term loan due to
Duration & Eligibility: -
Duration: The Special Settlement Scheme is valid from up to 30-
Eligibility: All overdue cases for more than five years in case of
CCBS/PACS and six years in case of PADBS as on 31.01.2000 even
if arbitration, awards have been obtained and execution of
proceedings have been initiated.
Operational Guidelines: -
Preparation and submission of list of eligible borrowers to block and
District Level Review Committees.
Eligible borrowers or legal heirs (in case of death) can apply on
prescribed form for the scheme.
After review block level, Default Review Committees (BLRC)
recommends to district Level Default Review Committee (DLRC)
After hearing the applicant DLRC recommends the case.
DLRC recommends to Provisional Authority (RA) and copy to
BLRC would meet on every 1st and 3rd Tuesday whereas DLRC
would meet on 2nd and 4th Monday.
RA after considering the recommendations of DLRC and facts, pass
specific order of settlement amount and amount to be written
RA should seek a proof of payment of settlement amount before
passing final order.
CCB/PSCB would debit the difference amount as per RA's order
without further sanctions from RCS and also liquidate outstanding
amount from records.
The above procedure shall be followed for buy back facility of land
purchased by the PACS/CCBS/PADBS, no relief of interest to the
farmers under buy back facility.
The above procedure shall be followed for embezzlement cases
even after taking legal measures for cases older than six years.
DLRC, on merits, decide about the charging of simple interest from
date of account turned bad, provided that:
Amount reclaimed shall not be less than the principal amount plus
Amount received is principal amount plus 50% where the borrower
has no asset or source of income.
In case of buy back facility, the original owner shall pay the total
Any other action initiated earlier under IPC shall continue
unabated, also the proceedings under the scheme shall not be
prejudiced to on longing legal proceedings.
The amount of net loss to PACs/CCBs/PADBs shall be charged to
reserve for Bad Doubtful Debts available with CCBs PADBs. There
are no such reserves with PACs.
Revolving Cash Credit
In 1998, the cooperative banks launched a new scheme of
revolving cash credit for the farmers. The scheme envisages to
provide Cash credit limit to the farmers against the mortgage of
their land for all credit requirements of the farmers. It aims at
freeing them from the clutches of traditional money lenders. A cash
credit limit of Rs. 1.00 lac per acre subject to the maximum of Rs.
6.00 lac is provided to the farmers for fulfilling their socio-economic
liabilities. So far, Limits worth Rs 2192.03 crore has been
sanctioned to 152207 farmers in the state since inception of the
Key Observations Made by Experts: -
The Revolving cash credit scheme has proved beneficial to the
farmers its contribution has been multi directional. It has helped
the farmers in the purchase of production inputs, farm
investments, consumptions and social requirements and reduced
their dependence on high interest loans.
The recovery under the scheme has been excellent and more than
70% of the credit availed under the scheme has been spent for
productive purposes, whereas remaining was provided for socio-
Nabard is providing refinance facility for the scheme.
The scheme has covered medium, large farmers small and
marginal farmers as well.
The rate of interest on credit facility under the scheme is also low.
Revolving cash credit has supplemented inadequate availability of
production credits besides creating provisions for consumption
credit. Therefore, its role is complementary to the institutions
credit available to farmers from different sources.
Sehkari Bima Yojna
The Cooperative Banks in Punjab are pioneers of starting the
Sehkari Bima Yojna w.e.f. 01.06.1999 in the country. Under this
scheme, every depositor who opens a Saving Bank Account with
Rs.1000/- or more is provided Personal Accidental Insurance cover
for Rs. 1 lakh, during the period he keep s the account with the
bank, at a very nominal premium. The scheme has benefited the
under privileged rural masses, particularly those who have no
access to the insurance companies.
Kisan Credit Card Scheme
A new scheme namely ‘Kisan Credit Card Scheme’ has been
implemented by the bank for the benefit of farmers. The Scheme
improves upon existing scheme of Crop Loans by allowing the
farmers flexibility and freedom of choice to avail and repay loans
as per their requirements. Under the scheme, Total Limits worth
Rs. 6116.28 crore have been sanctioned to 900230 KCC holders in
1) Non-Farm Sector Loan
With a view to diversify and benefit the small industrialists &
businessman, the cooperative bank has started non-farm sector
loan depending upon the requirements of the projects. These loans
are given to the rural youth for self-employment. The Central
Cooperative Banks have advanced Rs.4950.81 lacs from 1-4-2007
to 31-3-2008 to 8013 beneficiaries. During 2008-09, Rs. 4232.21
Lacs have been disbursed under this scheme. During 2009-10 (up
to Aug), a sum of Rs. 15.17 crore have been advanced.
2) Cash Credit to Traders & Businessmen
With a view to provide the cash credit facility to traders and others
for meeting the working capital requirements of the business, a
cash credit limit up to Rs.25.00 Lacs can be sanctioned to small
businessman and traders depending upon their business turnover
on easy terms at a normal rate of interest. During the year 2007-
08, the central cooperative banks have sanctioned Rs.29091.28
lacs under the scheme up to March 2009, limits worth Rs. 30649.64
lacs have been sanctioned under this scheme since inception.
During 2009-10 (up to Aug), total limits worth Rs 314.35 crore
have been sanctions.
3) Personal Loan
A specially designed personal loan scheme has been framed which
aims at providing credit facility for meeting out social needs of
employees, such as children education, furnishing home, buying a
computer, sons/ daughter marriage, holiday tour with family or any
other basic requirement without giving any purpose for the loan.
Under the scheme, every govt / semi govt employees is provided
loan up to Rs.2.00 Lac repayable in 5 years in easy monthly
installment. During the year 2007-08, the Central Coop.Banks
have advanced Rs.12164.46 Lacs under the scheme. During 2008-
09, Rs.13389.00 Lac have been disbursed in the state. During
2009-10 (up to Aug), a sum of Rs. 4643.05 lac have been
4) Consumer Durable Loan
With a view to provide credit facility to their customers, the
cooperative banks have introduced a scheme of loan for purchase
of consumer durable. Under the scheme, every employee is
provided loan up to Rs.1.00 lac and non-salary person is provided
loan up to Rs. 1,00,000 repayable in 5 years in easy monthly
installments. The loan can be utilized for purchase of T.V.,
refrigerator, scooter, furniture etc. A significant section of the
salary class has benefited from the scheme. During the year 2007-
08, the Central Coop. Banks have advanced Rs.7695.31 lacs under
the scheme. During 2008-09, Rs. 7150.00 Lacs have been
disbursed under this scheme. During 2009-10 (up to Aug), a sum
of Rs. 27.93 crore have been advanced.
5) Urban Housing Loan Scheme
With a view to provide the housing loan to individual and members
of house building society the Bank can advance a loan up to
Rs.25.00 Lacs for the purchase of plot, purchase of built-up house,
construction of house, repair, addition, alteration etc. in the
existing house. Loan shall also be given for acquiring a plot, flat,
house in an existing cooperative house building society and
approved scheme of PUDA, HOUSEFED, Improvement Trust or any
other govt. agency. During the year 2007-08, the Central
Coop.Banks have advanced Rs.3961.62 Lacs under the scheme.
During 2008-09, Rs. 3674.63 Lacs have been disbursed under this
scheme. During 2009-10 (up to Aug), a sum of Rs. 1347.76 lac
have been advanced.
6) Rural Housing Loan Scheme
With a view to provide housing facility to the masses which is a
basic need of human need the Central Coop. Banks has designed a
scheme particularly for rural people, where other financial
institutions are reluctant to advance. Under the scheme, maximum
loan up to Rs.15.00 Lacs can be advanced for purchase of built-up
house, construction of a new house or repair/ renovation /
addition/ alteration of existing house in rural areas. During the year
2007-08, the Central Coop. Banks have advanced Rs.5959.08 Lacs
under the scheme. During 2008-09, Rs. 5157.48 lac have been
disbursed under this scheme. During 2009-10 (up to Aug), a sum
of Rs. 21.11 crore have been advanced.
7) Mini Dairy Loan Scheme
The Central Coop.Banks through its branches are extending loan
facility to the farmers for dairy development/ mini dairy for
purchasing 25 milch cattle. Under the scheme, a maximum loan up
to 5 Lacs can be advanced with a ceiling of Rs.25000 for each
animal. During 2007-08 Rs. 275.54 Lacs have disbursed by CCBs
in the state. During 2008-09, Rs. 285.27 Lacs have since been
disbursed. During 2009-10 (up to Aug), a sum of Rs. 84.04 lac
have been advanced.
8) Vehicle Loan Scheme
With a view to provide the vehicle loan to individuals, firms, HUF,
companies, trust and cooperative societies etc. a financial
assistance up to Rs.10 Lacs is provided for the purchase of new
vehicle. During the year 2007-08, the Central Coop. Banks have
advanced Rs.6128.29 under the scheme. During 2008-09, Rs.
8408.00 Lacs have been disbursed under this scheme. During
2009-10 (up to Aug), a sum of Rs. 31.27 crore have been
9) Two-Wheeler Loan to farmers
Under the scheme the bank can grant loan to the farmers for
purchase of two-wheeler up to Rs.50000/-. During the year 2007-
08, the Central Coop.Banks have advanced Rs.3962.62 Lacs
under the scheme. Similarly, during 2008-09, Rs. 3442.00 Lac
have been disbursed under this scheme. During 2009-10 (up to
Aug), a sum of Rs. 12.61 crore have been disbursed.
10) Second hand vehicle loan scheme
In the modern era there is a heavy demand of second-hand
vehicles and the banks have surplus loan-able funds to diversify
the loan portfolio and to provide financial assistance to the
borrowers for purchase of second-hand vehicle, this scheme has
been devised. Under the scheme loan up to Rs 5 Lacs can be
sanctioned for purchase of second-hand vehicle.
11) Education loan scheme
With a view to provide the education facility to the children of the
employees a loan up to Rs. 10 Lacs can be sanctioned under the
scheme. During the year 2007-08, the Central Coop.Banks have
advanced Rs.234.73 Lacs under the scheme. Similarly, during
2008-09, Rs.426.43 Lac have been provided under this scheme.
During 2009-10 (up to Aug), a sum of Rs. 173.47 lac have been
New schemes launched by the Bank
1) Loan against property
The scheme is for providing finance against mortgage of
immoveable property & is designed to offer instant solutions
relating to socio economic and business needs such as children
higher education travel / daughter marriage, medical emergencies
etc. Under the scheme maximum loan up to Rs.25 Lacs can be
advanced. During 2007-08, CCBs have disbursed Rs. 325.14 Lacs
in the state. During 2008-09, Rs.1768.12 Lac have been disbursed.
During 2009-10 (up to Aug), a sum of Rs. 723.65 lac have been
2) Loan scheme for earnest money
In order to meet the requirements of the public the bank has
launched a loan scheme known as Loan scheme for earnest money
to meet the financial requirements towards the earnest money
deposit to book residential plot/ built up house, flats being sold by
govt. housing agency, urban development authority like; PUDA,
HUDA and Housing Board etc.
3) Loan against rental income scheme
For meeting business/ personal needs a new scheme for property
owners having their property situated it the area of operation of
the bank and who have let out or proposal to let out such property
to PSUs, reputed govt/ semi govt/ corporates, banks, financial
institutions, cooperative societies, insurance companies etc. is
launched. The minimum amount under the scheme is Rs.1 lac,
there is no upper limit but it must be within prudential exposure
norms. During 2008-09, Rs.90.54 Lac have been sanctioned under
this scheme. During 2009-10 (up to Aug), a sum of Rs. 14.63 lac
have been advanced.
4) Commercial Dairy Development scheme
To increase the income of milk producers by helping them to
purchase high yielding milch cattle and to purchase necessary
equipment’s for the purpose, a new scheme known as commercial
dairy development scheme has been launched for the central
cooperative banks. Under the scheme the bank can provide
maximum loan up to Rs. 25 Lacs. During 2007-08, CCBs have
disbursed Rs. 21.64 Lacs in the state. During 2008-09, Rs.71.49
Lacs have since been disbursed. During 2009-10 (up to Aug), a
sum of Rs. 21.36 lac have been advanced.
5) Dairy Loan Scheme for purchase of a cow
Under the scheme a member of the Milk Producers Society can be
advanced up to Rs.0.50 Lacs for the purchase of a cow. During
2007-08, CCBs have disbursed Rs. 27.84 Lacs in the state. During
the year 2008-09, Rs. 255.00 Lac have since been disbursed by
CCBS in the state. During 2009-10 (up to Aug), a sum of Rs. 48.97
lac have been advanced.
Death of account holder-Contract is risked Upon the death of an
account bolder, the authority given by him to the harkway either
drawn by him or his agent stands revoked. Mandates and Power of
Any third party to operate upon the account is automatically
terminated on the holder. So, all cheques signed by the account
holder or his agent shall with the remarks "Depositor Deceased."
Noting of notice of death in ledger
As soon as the bank gets the notice of death of the account holder,
the fact he both on the account opening form as well as the
personal ledger of the deposit is red mentioning the date and
source of information. Notice of death of the comm holder
newspaper, a report from reliable sources: production of death
certificate, notice to the bank about the death of the account
holder. If an oral information is about the death of the customer
the Branch Manager shall confirm this information from reliable
sources before acting upon it.
Payment made after the death of customer but earlier to the
receipt of death
All payments made out of the account after the death of the
customer hut before the rig an information of the death are valid
payments in due course.
Ascertainment of legal representative
According to 'will' or 'personal law Upon the death of the customer
the balance in the account shall be paid only to the legal
representatives of the deceased. In no case payment is to be made
to any other person. The question of legal representative(s) of the
deceased depends upon whether the deceased had during his life
time, recorded his wishes stating as to who should take his assets
in the event of his death. If the deceased had executed a valid will,
the assets of the deceased in the hands of the bank will be
paid/delivered in accordance with the provisions of the will. On the
other hand, if the deceased constituent had not made any will, legal
representative(s) will be ascertained on the basis of the personal
law applicable to the deceased. Each religious group
DOCUMENTS REQUIRED IN SETTLEMENT OF CLAIM UNDER
The following documents are to be obtained for settlement of claim
of deceased accounts in which nomination has been made:
i) Claim form duly filled in by claimant (Annexure 11.10)
ii) Affidavit from the nominee duly attested by the Notary
Public/Magistrate (Annexure 11.11)
iii) Indemnity bond from nominee and the sureties indemnifying
iv) Death certificate in usual form.
PERIOD OF PRESERVATION OF RECORDS RULES, 1998
the Co-operative Banks (Period of Preservation of Records) Rules,
The Co-operative Banks (Period of Preservation of Records) Rules,
1. Short title and commencement. —
(1) These rules may be called the Co-operative Banks (Period of
Preservation of Records) Rules, 1985.
(2) They shall come into force on the date of their publication in
the Official Gazette.
2. Every Co-operative Bank shall preserve, in good order, its
books, accounts and other documents mentioned below, relating
to a period of not less than five years immediately preceding the
current calendar year. Ledgers and Registers:
(1) Cheque Book Registers
(2) Delivery Liability Registers
(3) Demand Liability Registers
(4) Demand Remittances Dispatched Registers
(5) Demand Remittances Received Registers
(6) Vault Registers
Records other than Registers:
(1) Telegraphic Transfer Confirmations
(2) Telegrams and Telegram Confirmations
3. Every Co-operative Bank shall preserve, in good order, its
books, accounts and other documents mentioned below, relating
to a period of not less than eight years immediately preceding the
current calendar year. Ledgers and Registers:
(1) All personal ledgers
(2) Loans and Advance Registers or Ledgers
(3) Call, Short or Fixed Deposit Registers or Ledgers
(4) F.D. Interest Registers
(5) Draft, T.T. and Mail Transfer Registers
(6) Remittance Registers
(7) Bills Registers
(8) Clearing Registers
(9) Demand Loan Liability Registers
(10) Draft and Mail Transfer Advices Dispatched Registers
(11) Draft and Mail Transfer Advices Received Registers
(12) Draft Payable Registers
(13) Drawing Power Registers
(14) Stock Registers of Goods Pledged
(15) Stock and Share Registers
(16) Government Securities Registers or Ledgers
(17) Registers Showing Collection of Dividends and Interest on
Securities on behalf of Constituents.
(18) Registers or Ledgers of Bank’s own Investments
(19) Branch Ledgers
(20) Overdrafts and Loan Registers
(21) Safe Custody Registers
(22) Equitable Mortgage Registers
(23) Trust Registers
(24) Clean Cash Books
Records other than Registers:
(1) Bank Cash Scrolls
(2) Bank Transfer Scrolls
(3) Remittance Schedules
(4) Paid Cheques
(5) Paying in slips
(6) Vouchers relating to DDs, TTs, MTs, Fixed Deposits, Call
Deposits, cash credits and other deposit and loan accounts
including vouchers relating to payment to nominees
(7) Account opening forms, inventories prepared in respect of
articles in safe custody and safety locker and nomination forms
(8) Standing Instructions regarding Current Accounts
(9) Applications for TTs, DDs, MTs and other Remittances
(10) Applications for Overdraft, Loans and Advances
(11) Press-copy books.
In this project report the summary of the whole project has been
covered how the whole project was carried out and the analysis
was made. This project is based on the "Comparative study of
home loans provided by different banks". This topic covers the
objective of studying the customer satisfaction level and
comparative study of disbursement of home loans.
The Housing Loan is a loan taken by a borrower from the bank
issued against the property/security intended to be bought on the
part by the borrower giving the banker a conditional ownership
over the property. There are some advantages and disadvantage
of availing bank loans. In this project study, first of all objectives
were received to carry out this project. To study the topic under
research the secondary data was collected. Such banks are
emerging at higher position due to that public sector banks on
ground of professionally managed services, reliable & transparent
system, easy query handling etc. The problem faced by customers
while availing home loans also reviled by this project.
Finally the whole research was carried out in a systematic way to
reach at exact results. The whole research and findings were based
on the objectives. However, the study had some limitations also
such as lack of time, lack of data, non-response, reluctant attitude
and illiteracy of respondents, which posed problems in carrying out
the research. But proper attention was made to carry out research
in proper way which may beneficial for banks to enhance their
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