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International banks
Bachelor of Commerce
(Banking & Insurance)
Semester V
2014-15
Submitted
In Partial Fulfillment of the requirements
For the Award of the Degree of Bachelor of
Commerce Banking & Insurance
BY
Roshani Chaturvedi
Project Guide
Prof. Kishor Chauhan
Acknowledgement
Any accomplishment requires the effort of many people and this project is
not different. I find great pleasure in expressing my deepest sense of
gratitude towards my Project guide Prof.Mr.Kishor Chauhan whose
guidance and inspiration right from the conceptualization to the finishing
stages proved to be very essential and valuable in the completion of the
project.
Declaration
I, Roshani Chaturvedi - student of T.Y.B.com Banking &
Insurance Semester V (2014 2015) hereby declare that I
have completed this project.
Sig
nature of Student
Roshani
Chaturvedi
RESEARCH METHODOLOGY
Research and methodology carries the information regarding the project
and what all it includes. At the same time it shows from introduction to
the conclusion of the study made by the person as a particular topic.
Primary data
2) secondary data
Primary data :
Primary data collected by the researcher is by
informal interview method. So it helps the researcher to
collect so much data for the project work.
Secondary data:
The books referred by the research
Internet suffered by researcher.
Newspaper
OBJECTIVES
The objectives of a research project summarize what is to be achieved by the study.
These objectives should be closely related to the research problem. The general
objective of a study states what researchers expect to achieve by the study in
general terms. It is possible (and advisable) to break down a general objective into
smaller, logically connected parts. These are normally referred to as specific
objectives. Specific objectives should systematically address the various research
questions. They should specify what you will do in your study, where and for what
purpose.
LIMITATIONS
One of the limitations in research includes lack of adequate information on a
particular subject. Research equipments are very hard or expensive to acquire
leading to formulation mere assumptions. Another hindrance is poor or
inaccessibility to the region of study.
SCOPE OF RESEARCH
Scope describes the areas covered in a research whereas limitations are the
circumstances that were not considered in the research.Forexample, scope can be
what is the marketing problem and what topics are considered? whereas the
limitations include the inaccuracy of data, sampling errors, and data gathered from
a specific locality only.
INDEX
CHAP.
NO.
1
CONTENTS
1.1
1.1.1
1.1.2
1.1.3
History of banking
History of world bank
Banking
History of banking in India
2.1
2.1.1
2.1.2
2.2
2.3
2.4
2.5
2.6
2.6.1
2.6.2
Uco bank
History of Uco bank
Background
Incorporation
Introduction of Uco bank
Definition of Uco bank
Our mission
our vision
Uco shelter
Eligibility
Purpose
3.1
3 .1.1
3.1.2
3.1.3
3.2.2
3.3
3.3.1
Deposits scheme
Changing your account
Saving/current a/c
Minimum balance
Charges statement
Deposits scheme
Deposit account
Account opening and operation of deposit a/c
PAGE.
NO.
10
11
12
13
14
15
16
17
18
19
20-39
3.3.2
3.3.3
3.4
3.5
4
Term deposit
Safe deposit locker
Uco bank offers deposit scheme for NRI
Domestic deposits
5.1
5.2
5.3
5.4
5.4.1
5.4.2
5.4.3
5.5
5.6
5.7
5.8
5.9
5.10
6.1
6.1.1
6.1.2
6.1.3
6.2
6.2.1
5.2.2
6.2.3
4.1
4.1.1
4.1.2
4.1.3
4.2
4.3
4.3.1
4.3.2
4.4
4.5
5
40-48
49-56
6.2.4
6.5
6.5.1
Types of import
Bancasurance
Uco bank as corporate agent
Questionary
57-59
Data analysis
60-74
Bibliography
75
CHAPTER No. 1
1.1.1 HISTORY OF WORLD BANK
Lord Keynes (right) and Harry Dexter White, the "founding fathers" of both the
World Bank and the International Monetary Fund (IMF). Seen here at the Bretton
Woods conference, where plans were laid to launch the two institutions.
The World Bank was created at the 1944 Bretton Woods Conference, along with
three other institutions, including the International Monetary Fund (IMF). The
World Bank and the IMF are both based in Washington DC, and work closely with
each other.
Although many countries were represented at the Bretton Woods Conference, the
United States and United Kingdom were the most powerful in attendance and
dominated the negotiations.
Traditionally, the World Bank has been headed by a citizen of the United States,
while the IMF has been led by a European citizen.
19441968
Before 1968, the reconstruction and development loans provided by the World
Bank were relatively small. The Bank's staff was aware of the need to instill
confidence in the bank. Fiscal conservatism ruled, and loan applications had to
meet strict criteria.
The first country to receive a World Bank loan was France. The Bank's president at
the time, John McCloy, chose France over two other applicants, Poland and Chile.
The loan was for US$250 million, half the amount requested, and it came with
strict conditions. France had to agree to produce a balanced budget and give
priority of debt repayment to the World Bank over other governments. World Bank
staff closely monitored the use of the funds to ensure that the French government
met the conditions.
1989
Beginning in 1989, in response to harsh criticism from many groups, the bank
began including environmental groups and NGOs in its loans to mitigate the past
effects of its development policies that had prompted the criticism. It also formed
an implementing agency, in accordance with the Montreal Protocols, to stop ozonedepletion damage to the Earth's atmosphere by phasing out the use of 95% of
ozone-depleting chemicals, with a target date of 2015. Since then, in accordance
with its so-called "Six Strategic Themes," the bank has put various additional
policies into effect to preserve the environment while promoting development. For
example, in 1991, the bank announced that to protect against deforestation,
especially in the Amazon, it would not finance any commercial logging or
infrastructure projects that harm the environment.
1.1.2BANKING
India cannot have a healthy economy without a sound and effective banking
system. The banking system should be hassle free and able to meet the new
challenges posed by technology and other factors, both internal and external.
In the past three decades, India's banking system has earned several outstanding
achievements to its credit. The most striking is its extensive reach. It is no longer
confined to metropolises or cities in India. In fact, Indian banking system has
reached even to the remote corners of the country. This is one of the main aspects
of India's growth story.
The government's regulation policy for banks has paid rich dividends with the
nationalization of 14 major private banks in 1969. Banking today has become
convenient and instant, with the account holder not having to wait for hours at the
bank counter for getting a draft or for withdrawing money from his account.
later changed to the Banking Regulation Act, 1949 as per amending Act of 1965
(Act No. 23 of 1965).
Phase2
The government took major initiatives in banking sector reforms after
Independence. In 1955, it nationalized the Imperial Bank of India and started
offering extensive banking facilities, especially in rural and semi-urban areas. The
government constituted the State Bank of India to act as the principal agent of the
RBI and to handle banking transactions of the Union government and state
governments all over the country. Seven banks owned by the Princely states were
nationalized in 1959 and they became subsidiaries of the State Bank of India. In
1969, 14 commercial banks in the country were nationalized. In the second phase
of banking sector reforms, seven more banks were nationalized in 1980. With this,
80 percent of the banking sector in India came under the government ownership.
Phase3
This phase has introduced many more products and facilities in the banking sector
as part of the reforms process. In 1991, under the chairmanship of M Narasimham,
a committee was set up, which worked for the liberalization of banking practices.
Now, the country is flooded with foreign banks and their ATM stations. Efforts are
being put to give a satisfactory service to customers. Phone banking and net
banking are introduced. The entire system became more convenient and swift.
Time is given importance in all money transactions.
The financial system of India has shown a great deal of resilience. It is sheltered
from crises triggered by external macroeconomic shocks, which other East Asian
countries often suffered. This is all due to a flexible exchange rate regime, the high
foreign exchange reserve, the not-yet fully convertible capital account, and the
limited foreign exchange exposure of banks and their customers.
CHAPTER NO.2
2.1 HISTORY OF UCO BANK
2.1.1BACKGROUND
UCO Bank (formerly United Commercial Bank) was founded in 1943 by Sri
Ghanashyam Das Birla, the then Chairman of the House of Birlas. It is one of the
Nationalised Banks having a glorious past and tradition of service. It is backed by
69 years of professional banking having a wide network of branches through out
the length and breadth of India. The Bank also has strong presence in two very
important South-East Asian financial centers namely Singapore and Hongkong.
This has helped the Bank in developing a sound and strong customer base. The
Bank has also made substantial improvement in implementation and assimilation
of latest information technology products available in the market to offer better
service products to the customers.
2.1.2 INCORPORATION
The Bank was nationalised on 19th July 1969 and is now a Public Sector Bank
constituted under the Banking Companies (Acquisition & Transfer of Undertaking)
Act, 1970.
Global banking has changed rapidly and UCO Bank has worked hard to adapt to
these changes. The bank looks forward to the future with excitement and a
commitment to bring greater benefits to you.
UCO Bank, with years of dedicated service to the Nation through active financial
participation in all segments of the economy - Agriculture, Industry, Trade &
Commerce, Service Sector, Infrastructure Sector etc., is keeping pace with the
changing environment. With a countrywide network of more than 2200 service
units which includes specialised and computerised branches in India and overseas,
UCO Bank has marched into the 21st Century matched with dynamism and
growth!
The SLBC is an inter-institutional forum for coordination and joint implementation
of development programmes and policies by all the financial institutions operating
in a State. Although SLBC is envisaged as a bankers' forum, it's an interactive
forum between Bankers, State Government, Reserve Bank of India and NABARD
to bring around all round development in the state. The main objective of SLBC
are the following.
To discuss issues, consider alternative solutions to the various problems in the field
of banking development and evolve consensus for coordinated action by the
member institutions.
To do the necessary spade work for formulation of Annual Credit Plan by getting in
time district-wise resource allocation by banks and dis-aggregation of the various
Governmental programmes
To undertake critical analysis of the progress of the implementation of Annual
Credit Plan & Govt. and other agencies sponsored credit-linked programmes /
schemes in the various districts.
To consider problems referred by the district level forums and take necessary
follow-up action.
To oversee the implementation of branch expansion programme.
To undertake evaluation of the programmes implemented.
To take up for consideration such issues as have been raised by the member banks
and/or the State Govt. authorities and questions or inter-bank difference of views
and approach remaining unresolved at the District Level Consultative
Committees.
To solve operational problems in implementation of Service Area Approach, Credit
Plans, Govt. and other agencies programmes etc.
To serve as a focal point for the banking system in the State for securing better
liaison with the State Govt. authorities.
To examine the inter-institutional coordination in the formulation and
implementation of the Annual Credit Plans.
To review the trends in the flow of credit into rural areas and to the small
borrowers in the neglected sectors.
2.2 INTRODUCTION
UCO Bank, previously known as United Commercial Bank, is a leading
commercial bank in India. Founded in Kolkata in 1943, UCO Bank is one of the
oldest Indian banks as well. It was the eminent Indian industrialist Ghanshyam
Das Birla who, during the Quit India Movement of 1942, thought of establishing a
commercial bank with Indian capital and management. United Commercial Bank
was the outcome of that idea. It, along with 13 others, was nationalized on July 19,
1969. In the year 1985, its name was changed to UCO Bank. Currently, UCO
Bank has around 2000 Service Unites spread all across the nation. It also has two
overseas branches in Hong Kong and Singapore. UCO Bank has its presence in
all segments of the economy including Industry, Agriculture, Infrastructure Sector,
Service Sector and Trade & Commerce. It works towards becoming one of the
most trusted and admired financial institution as well as the most sought-after
destination for the customers and investors. UCO Bank has a large number of
Service Units (around 2000) located across the nation and overseas. These also
include specialized and computerized branches. It also has its Correspondents /
Agency arrangements all across the world. UCO Bank also carries out Foreign
Exchange Business in more than 50 centers across the nation with 4 Foreign
Exchange Dealing Operations centers.
2.3DEFINITIONS
In this document the following words and phrases shall have the meaning
as set below unless the context otherwise:
Accounts refers to the users bank account , home, loan account, vehicle
loan account, consumer durable loan account, depository account and or any other
type of account (each account hereafter referred to as an account and collectively
as accounts),so maintained with UCO bank for purpose of internet banking. One
of the accounts shall be designted as the primary account and all other accounts, if
any, of the user shall be referred to as secondary accounts.
UCO Bank refers to UCO bank a corporate body constituted under the
banking companies Act, 1970 and having its head office at 10, Bipliobi Trailokya
Maharaj sarani, Kolkata 700 001 which terms shall include its successors and
assigns.
Internet Banking refers to the internet banking service offered by UCO Bank
to the user including services such as enquiry about balance in the Account
statement of Account, transfer of funds and any other service as Uco Bank may
decide to provide from time to time through internet. The availability/non
availability of a particular service shall be communicated to the user through email,
web page of Uco Bank or in writing as may be deemed fit by UCO Bank . Such
internet banking may be provided by UCO Bank directly or through its associated
or contracted service providers.
UCO Bank has marched into the 21st Century matched with dynamism and
growth.
OVERVIEW
We are in the Service of Community since 1943.We have over 2500 Service Units
spread all over India.We also operate in two Major International Financial Centres,
namely Hong Kong and Singapore.We have our Correspondents/Agency
arrangements all over the world.We undertake Foreign Exchange Business in more
than 50 Centres in India.We have Foreign Exchange Dealing Operations at 4
Centres.
2.5.1ELIGIBILITY
You are eligible for a loan under UCO SHELTER singly, or jointly as husbandwife/parent-son/parent-daughter, if you are Indian resident having regular source of
income.
Minimum 21 years of age.
Maximum 65 years of age inclusive of repayment period.
Singly or Jointly as Husband-Wife, Parent-Son & Parent-Daughter.
Maximum 75 years of age for Senior Citizens availing finance to secure
Shelter in Old.
Age Home against full coverage by Banks own Term Deposit.
2.5.2 PURPOSE :
Purchase of new independent house/ready built flat for residential purpose.
Construction of independent house on the site already owned by the
applicant or site proposed to be purchased from own sources.
Purchase of old house/flat not more than 30 years old, free from tenancy and
constructed as per approved plan.
Extension/ Repair/ Renovation of existing house/ flat not more than 50 years
old.
Takeover of home loans availed from other banks/FIs subject to certain
terms.
Furnishing of house to be constructed/acquired with UCO Shelter Loan.
Loan for more than one purpose is allowed
UCO Shelter Loanee may be allowed to avail personal loan also under
certain conditions.
Purchase of plot of land for housing purpose under certain conditions.
CHAPTER NO.3
3.1. CHANGING YOUR ACCOUNT
A. If you are not happy about your choice of current/savings account, within 14
days of making your first payment into the account , we will help you switch to
another of our accounts or we will give your money back with any interest it may
have earned. We will ignore any notice period and any extra charges.
B. If you decide to close your current/savings account we will close your account
within three working days of receiving your instructions.
C. If you want to transfer your account to another branch of our bank we will do
so. Your account at the new branch will be operationalised within two weeks of
receiving your request, subject to your complying with the required KYC
formalities at the new branch. We will intimate you as soon as the account is
operationalised. The new branch will be provided with information on your
standing instructions/direct debits, if any.
D. We will cancel any bank charges you would have to pay as a result of any
mistake or unnecessary delay by us when you transfer your current/savings account
to or from us.
3.1.1SAVINGS/CURRENT ACCOUNTS
Inform you about the kind of charges, if any, in case of exceeding such
limits. Details of the charges will be included in the Tariff Schedule
c. Inform you of the rate at which interest is paid on your savings deposits,
how it is calculated and its periodicity.
3.1.2MINIMUM BALANCE
The minimum balance to be maintained in the Savings Bank account will
be displayed in our branches.
For deposit products like Savings Bank Account and Current Account or
any other type of Deposit Account, we will inform you:
a. About charges which will be levied in case of failure to maintain minimum
balance in the account by you. Details of the charges will be included in the Tariff
Schedule.
b. Of any change in minimum balance to be maintained 30 days in advance.
During this notice period, we will not charge you for non-maintenance of higher
minimum balance prescribed.
3.1.3CHARGES
Specific charges for issue of cheque books, additional/duplicate statement of
accounts, duplicate pass book, copies of paid cheques, folio charges, debit card,
ATM card, verification of signature, return of cheque for insufficient balance,
change in mandate or style of account, closure of Savings Bank/Current accounts
etc., will be included in our Tariff Schedule. Concessions or relief given (such as
perpetual waiver of renewal fee on lifetime credit cards) will not be withdrawn
during the original validity period of the concession/relief.
STATEMENTS
A. To help you manage your account and check entries in it, we will provide you
with a monthly statement of account unless you have opted for a pass book.
B. You can ask us to provide you with account statements more often than is
normally available on your type of account, at a charge. This charge will be
indicated in the Tariff Schedule.
C. You will be able to see your last few transactions at the counter. You will also be
able to see the transactions on ATM, internet as also through phone and mobile
banking wherever such facilities are available with us.
D. We will also send you statement of accounts by e-mail, or through our secure
Internet banking service, if you so desire, provided we have such facility with us.
E. We will ensure that entries in your pass book/statements are brief and
intelligible.
3.2DEPOSIT SCHEMES
Following deposit schemes are offered by UCO Bank:
3.3DEPOSIT ACCOUNTS
A. You may open different types of accounts with us such as, savings accounts,
term deposits, current accounts including No Frills Account etc. With us. You
may open such accounts in the following styles:
Single
Joint
Joint (Either or Survivor)
Joint (Former or Survivor)
Joint (Latter or Survivor); or
In any other style
B. The above may be opened by you with or without nomination facility. We will
include the option for nomination in the account opening form. We will explain the
implications of the foregoing accounts as also the nomination facilities at the time
of opening of the account.
C. We will acknowledge the receipt of your nomination details and record the fact
of nomination on the passbook/Account Statement/fdrs. At your request, we will
also indicate the name of the nominee thereon.
D. We will also inform you about liquid deposit facility, sweep account and similar
types of products offered by us and their implications and procedures involved, at
the time of opening of account.
Economists
3.3.2TERM DEPOSIT
When you place a term deposit with us we will:
A. Obtain instructions from you for disposal of your deposits at maturity in the
application for
B. Inform you the procedure for withdrawal of term deposit before maturity
C. Inform you of the interest rates applicable and charges for premature withdrawal
of term deposit
D. Tell you the terms and conditions and interest rate applicable in case you renew
the deposits after the date of maturity, at the time of acceptance of the deposit
E. Advise you of provisions of I.T. Act applicable to the interest income accruing
to you on your deposits, our obligations under the act and provisions available to
you for seeking exemptions from Tax Deduction at Source
F. Obtain Form 15 H/15 G from you at the time of application if you are not liable
to pay tax on your interest income
G. Issue the requisite certificate if we deduct tax from interest accrued on your
deposits.
Advances against Deposits
We will explain facility of loan/overdraft available against term deposits.
No Frills Account
We will make available a basic banking No Frills Account either with nil or
very low minimum balance. The charges applicable for various services/ products
in such an account will be indicated in a separate Tariff Schedule. The nature and
number of transactions in such accounts may be restricted, which will be made
known to you at the time of opening of the account in a transparent manner.
Accounts of Minors
We will tell you, if enquired, how a minor can open a Deposit Account and how it
can be operated.
Special Accounts
We will make our best efforts to make it easy and convenient for our special
customers like senior citizens, physically challenged persons and illiterate persons
to bank with us. This will include making convenient policies, products and
services for such applicants and customers.
Accountants Uco bank deposit schemes of Uco bank offers the following
deposit schemes to its customers.
Uco tax servers deposit scheme 2006
No fills saving bank account
Flexible fixed deposit scheme
Money back recurring deposit
Special deposit scheme for senior citizens
Friend in need scheme
Current account in foreign current at its India branches
Lakshmi Yojana
Revised minimum balance schedule
Kuber yojna
3.5
UCO BANK DEPOSIT SCHEMES FOR NRIS UCO BANK
OFFERS THE FOLLOWING DEPOSTI SCHEMES FOR THE
NON RESIDENT INDIANS:
Reparability
Choosing the term of deposit
Tax exemption
Automatic renewal
Choice of currency
Joint account
Remit in any currency
Power of attorney
No upper ceiling
Nomination
Attractive interests
Loans available against FCNR deposits
Large number of branches
Period
01.
02.
03.
Sr.
No.
Time Period
1 year
8.70
02.
03.
04.
05.
8.75
01.
8.25
02.
03.
04.
05.
8.25
All Zonal Offices are requested to note the above mentioned interest rates for
NRE Term Deposits of above Rs. 5.00 Crore are effective from 15.07.2013.
The above card rates are valid for single deposits (Fresh & Renewal).
No cash deposits to be accepted.
For premature closure penal charges shall be 1% less than applicable rate for
which the term deposit of more than 5.00 Crore was held by the branch as on
the date of deposit or the present rate as on the date of premature closure
whichever is lower.
Under no circumstances branches are allowed to quote beyond the rates
mentioned supra. Zonal offices and FGM offices are requested to ensure strict
compliance.
GETTING RECORDS
1. Title of the Scheme UCO Dhan-Laxmi Fixed Deposit Scheme
2. Scheme Type Kuber Yojana Fixed Deposit Scheme.
3. Period of operation Of the Scheme
The scheme would be open for the general public from June 10th, 2013 and
Will remain valid up to September 30th, 2013.
However, the Bank would reserve the right to modify, withdraw or extend the
Scheme without any prior notice.
4 Eligibility to Open Account Eligible Depositors under the Scheme would be
same as eligible depositors in Fixed Deposit Scheme currently available in the
Bank.
5. KYC (Know Your Customers) Norms KYC Norms for opening account are
applicable for these accounts and Hence proof of residence and proof of
identification will be required along With recent photograph of the depositor/s.
6. Period of Deposit 333 days
7. Amount of Deposit
A) Minimum Amount :- 5000/- (thereafter in multiples of ` 1000/-)
B) Maximum Amount :- Upto 500 lac
8. Rate of Interest :- General Public:- 8.90% per annum (quarterly compounded).
9. Payment of Interest: - Interest will be paid only at the time of maturity along
with principal with Quarterly compounding effect. The quarterly compounding
would be done for the first three quarters and Simple rate of interest would be paid
on the compounded amount after the Three quarters for the remaining number of
days of the above deposit period. However, the payment/credit of interest to the
account will be subject to TDS As applicable.
10. Premature Withdrawal:- In all cases of premature withdrawals, the interest
would be payable at 1%Below the applicable card rate under the normal fixed
deposits for the Period for which the deposit has remained with the Bank as on the
date of Deposit and not at the contractual rate.
11.Loan/Overdraft Against the Deposits Facility for availing loan/overdraft against
UCO Dhan-Laxmi Fixed Deposit Scheme would be available as per existing
guidelines for availing Loan/overdraft against Banks own Fixed Deposits.
12. Nomination The facility of nomination would be available under the scheme.
13. Payment to Nominee/ Legal Heirs In the event of the death of the depositor, the
deposit would be paid to the Nominee/legal heirs as per the existing rules.
14. Participating Branches all branches of the Bank would be authorized to open
UCO Dhan-Laxmi Deposit accounts under the Scheme.
15. Application Form The existing Application Form for Fixed Deposits is to be
used for accepting Deposits under the Scheme. The branches shall invariably take
an undertaking from customers stating that I have read understood and accept the
terms and conditions of the
16. Issue of Term Deposit Receipt .The branch under the Scheme shall issue a
fixed deposit receipt for the Deposit amount received on our usual form for the
Fixed Deposit Receipt. A Rubber Stamp stating Issued under UCO Dhan-Laxmi
Fixed Deposit Scheme is to be invariably affixed by branches.
17. Automatic Renewals No auto renewal is permitted under UCO Dhan-Laxmi
FD Scheme .However, on specific mandate of the depositor at the time of opening
of UCO Dhan-Laxmi, the maturity proceeds may be transferred to SB/CA of The
depositor / renewed for a certain period at card rate of interest Prevailing at the
time of maturity (copy enclosed as Annexure II).
18. Tax Implications Tax would be deductible at source as per the prevailing
Income Tax rules.
19. Transferability The deposit is non-transferable. However, the deposits are
transferable from one branch to another branch in the same name(s) without any
charge and as per the existing Banks Procedure.
20. Special benefits for Staff / Ex-Staff Members Deposits from under-mentioned
categories of depositors shall be allowed Incentive interest rates as per existing
norms. Accordingly, the applicable Rates for these special categories under UCO
Dhan-Laxmi would be as:Category Applicable Rate of Interest
Rs. 1 Crore
and above up
Rs. 5 Crore
46-60 days
Less than
Rs. 1 Cr.
Rs. 1 Crore
and above up
Rs. 5 Crore
61-90 days
Less than
Rs. 1 Cr.
Rs. 1 Crore
and above up
Rs. 5 Crore
91-120 days
Less than
Rs. 1 Cr.
Rs. 1 Crore
and above up
Rs. 5 Crore
121-150
days
Less than
Rs. 1 Cr.
Rs. 1 Crore
and above up
Rs. 5 Crore
151-180
days
Less than
Rs. 1 Cr.
151-183
Days
Rs. 1 Crore
and above up
Rs. 5 Crore
181-364
days
6.75
6.75
6.75
6.75
6.75
6.75
6.75
6.75
7.00
7.00
7.25
7.25
6.50
6.50
6.75
6.75
6.75
6.75
6.75
6.75
6.75
6.75
6.75
6.75
8.00
8.00
8.25
8.25
7.50
7.50
7.75
7.75
7.60
7.60
7.60
7.60
7.60
7.60
7.60
7.60
8.25
8.25
8.50
8.50
7.75
7.75
8.00
8.00
8.00
8.00
8.00
8.00
8.00
8.00
8.00
8.00
8.30
8.33
8.55
8.58
8.00
8.03
8.25
8.28
8.00
8.03
8.00
8.03
8.00
8.03
8.00
8.03
8.30
8.36
8.55
8.61
8.30
8.36
8.55
8.60
8.10
8.16
8.10
8.16
8.10
8.16
8.10
8.16
Less than
Rs. 1 Cr.
184-364
Days
Rs. 1 Crore
and above up
Rs. 5 Crore
1 year
Less than
Rs. 1 Cr.
Rs. 1 Crore
and above up
Rs. 5 Crore
More than 1
year but up
to 2 years
Less than
Rs. 1 Cr.
Rs. 1 Crore
and above up
Rs. 5 Crore
Above 2
years and up
to 3 years
Less than
Rs. 1 Cr.
Rs. 1 Crore
and above up
Rs. 5 Crore
Above 3
years and
less than 5
years
Less than
Rs. 1 Cr.
Rs. 1 Crore
and above up
Rs. 5 Crore
5 years and
8.75
8.85
9.00
9.10
8.50
8.59
8.75
8.85
8.40
8.49
8.40
8.49
8.40
8.49
8.40
8.49
9.10
9.41
9.35
9.68
8.75
9.04
9.00
9.31
8.90
9.20
8.90
9.20
8.75
9.04
8.75
9.04
9.10
9.41
9.60
9.95
8.75
9.04
9.25
9.58
9.00
9.31
9.00
9.31
8.75
9.04
8.75
9.04
9.10
9.86
9.60
10.45
8.75
9.45
9.25
10.03
9.00
9.74
9.00
9.74
8.75
9.45
8.75
9.45
9.00
10.20
9.50
10.84
8.75
9.88
9.25
10.52
8.80
9.95
8.80
9.95
8.75
9.88
8.75
9.88
above
Less than
8.75
Rs. 1 Cr.
Rs. 1 Crore
and above up 8.75
Rs. 5 Crore
10.83
9.25
11.59
8.75
10.83
9.25
11.59
10.83
8.75
10.83
8.75
10.83
8.75
10.83
CHAPTER NO.4
LOANS AND ADVANCES
4 .1 WORKING CAPITAL FINANCE :
UCO Bank provides Working capital facilities to
finance day to day operations of your business (Trading /Manufacturing )by way
of funded credit facilities as well as non-funded credit facilities
4.1.1FUND BASED CREDIT FACILITIES:
Cash credit
Working capital Demand loan
Bill Discounting/ Purchasing Facilities.
Preshipment credit : Export Packing Credit in INR and Denominated
Foreign currency
Post shipment Credit-Foreign Bills Discounting /Purchasing/Negotiation
Bills Discounting against Inland LCs on Base Rate up to 90 days
UCO Expo Gold card credit facility is available to exporters on
concessional pricing
4.1.2NON-FUND BASED FACILITIES
Letter of Credit (ILC/FLC)
Bank Guarantee (Financial /Performance)
Generation/Transmission of Power
Developing Roads, Ports & Airports
Laying/maintaining pipelines for gas, water, etc
Setting of SEZ and Industrial Park
Telecommunication services
Irrigation projects, water treatment plants, sanitation
Construction of warehouses, educational institutions etc.
Funds can also be availed in foreign currency i.e. Buyers credit & ECB
A. At the time of sourcing a loan product, we will provide as part of the loan
application form, information about the interest rates applicable whether floating
rate or fixed rate, as also the fees/charges payable for processing, the amount of
such fees refundable if loan amount is not sanctioned/disbursed, pre-payment
options and charges, if any, penal rate of interest for delayed repayments, if any,
conversion charges for switching your loan from fixed to floating rates or vice
versa, existence of any interest reset clause and any other matter which affects the
interest of the borrower, so that a meaningful comparison with those of other banks
can be made and informed decision can be taken by you.
B. We shall invariably provide you with an acknowledgement of your loan
application. We shall make every Endeavour to indicate on your application the
period within which you can expect to receive a decision on your request for loan.
C. Normally all particulars required for processing the loan application will be
collected by us at the time of application. In case we need any additional
information we will contact you immediately.
D.We will provide you the sanction letter detailing particulars of amount
sanctioned, terms and conditions, your responsibilities as well as the banks, etc.
F. We will provide you an amortization schedule (schedule of repayment of
principal and interest for the duration of the loan).
G. We will also inform you whether you have an option to let equated monthly
installments stay constant and increase tenure or vice-versa when the interest rate
changes.
H. We will supply authenticated copies of all the loan documents executed by you
at our cost along with a copy each of all enclosures quoted in the loan document.
I. We will give written receipt for all documents to title taken as security/collateral
for any loan as well as for dated/undated cheques received from you.
J. We will return the unpaid cheques/postdated cheques given by you on receipt of
full amount representing the EMI/entire debt.
K. We will return to you all the securities/documents/title deeds to mortgaged
property within 15 days of the repayment of all dues agreed to or contracted. If any
right to set off is to be exercised for any other claim, we will give due notice with
full particulars about the other claims and retain the securities/documents/title to
mortgaged property till the relevant claim is settled/paid.
L. We will compensate you for any delay in return of securities / documents/title
deeds to mortgaged property beyond 15 days of the repayment of all dues agreed to
or contracted.
M. We will not discriminate on grounds of sex, caste and religion in the matter of
lending. However, this does not preclude us from instituting or participating in
schemes framed for different sections of the society.
N. We will process request for transfer of borrowable account, either from the
borrower or from a bank/financial institution, in the normal course and convey our
concurrence or otherwise within 21 days of receipt of request.
4.3.2GUARANTEE
A. When you are considering being a guarantor to a loan, we will tell
you about:
B. We will keep you informed of any material adverse change/s in the financial
position of the borrower to whom you stand as a guarantor.
C. We will return to you all the securities/documents/title deeds to mortgaged
property within 15 days of the repayment of all dues agreed to or contracted.
D. We will compensate you for any delay in return of securities / documents/title
deeds to mortgaged property beyond 15 days of the repayment of all dues agreed to
or contracted.
4.4 UCO BANK'S ATTRACTIVE LOAN SCHEMES
Being a Commercial Bank, giving Loans and Advances is among our primary
activities. Apart from our participation in meeting both Term Loan and Working
Capital requirements of Agriculture sector, Trade and Service sector,
Large/Medium and Small Scale Industries sector, Infrastructure sector etc.
Including taking care of their Export/Import and non-fund based needs like Letter
of Credit, Bank Guarantee etc.,
UCO HOME
This housing finance scheme brings to you an excellent opportunity to have your own house or flat. The
scheme has been carefully tailored to suit your requirements. The reasonable rate of interest that you pay
be calculated on reducing balance, i.e. You do not have to pay interest on the loan installments actually r
Individual (including NRI and PIO) having minimum 21 years of age and maximum 60 years o
(salaried person) and 65 years of age (non-salaried person) inclusive of repayment period.
Purpose
Purchase and construction of independent house/ready built flat for residential purpose.
Extension/Repair/Renovation of existing house/flat not more than 50 years old.
Takeover of home loans availed from other banks/fis.
Loan is also available for furnishing of house property.
Purchase of old house/flat not more than 30 years old.
Loan Entitlement
Least of the Following:
80% of the project cost, stamp duty registration and other documentation charges not to be inc
in the cost of housing property.
On the basis of monthly income-
The total deductions existing plus the EMI of the proposed loan would be linked to Gross Monthly In
(GMI) and must not exceed the GMI of the borrower as under
GMI up to Rs.50,000/- - 60% of GMI
GMI above Rs.50,000/- and upto Rs.1,00,000/- - 70% of
GMI (subject to minimum monthly take home pay of Rs.20,000/-)
GMI above Rs.1,00,000/- -75% of GMI (subject to minimum monthly take home pay of Rs.30,000/
60 times of net monthly income.
Uco bank was incorporated in the year 1943. Uco bank is one of the top
commercial banks of India and this bank functions in the form of a nationalized
bank. Over the years, Uco bank has been providing a wide variety of excellent and
convenient services to its customers.
For
Construction/For
Repair/
Purchase/ TakeoverExtension/
A/Cs
Renovation
Metro/Urban/Semiurban
No upper limit
Rs.25 lac
Rural
No upper limit
Rs.7.5 lac
CHAPTER NO.5
CREDIT CARD
5.1 GENERAL INFORMATION
A. When you apply for card, we will explain the relevant terms and conditions
such as fees and interest charges, billing and payment, method of computation of
overdues, renewal and termination procedures, and any other information that you
may require to operate the card.
B. We will give you a copy of the Most Important Terms and Conditions (MITC) at
the time of application.
C. We will advise you of our targeted turnaround time while you are
availing/applying for a product/service.
D. We will send a service guide/member booklet giving detailed terms and
conditions, losses on your account that you may be liable if your card is lost /
misused and other relevant information with respect to usage of your card along
with your first card.
E. We will provide "Online Alerts" to you for all "card not present" transactions of
the value of Rs.5000/- and above.
F. If you do not recognize a transaction, which appears on your card statement, we
will give you more details if you ask us. In cases, where we do not accept your
contention we will give you evidence that you had authorized the transaction, in
question.
C. In case we activate the card without your consent/bill you for the card for which
you have not given your consent, we will not only reverse the charges forthwith
but will also pay a penalty amounting to twice the value of the charges reversed.
D. We will extend a loan/credit facility/enhance credit limit on your card only with
your consent in writing.
E. If the limit on your credit card is reduced, we will inform you immediately by
SMS/e-mail followed by a confirmation in writing.
F. PIN (Personal Identification Number) whenever allotted, will be sent to you
separately at your mailing address.
INSURANCE
A. We will inform you if we, as agents of any insurance company, offer any type of
insurance on deposits and credit cards.
B. We will ensure that we have your written consent to avail these insurance
products.
C. In case of securities lodged with us for loans availed by you, we will not insist
on your obtaining insurance cover from any particular provider.
Mobile Banking
If you opt for mobile banking services we will, prior to your registration, for the
service inform you of:
A. The security procedure adopted by us for user authentication and the legal risk,
if any, associated with the same
B. The applicability or otherwise of stop payment instructions and the terms and
conditions for the acceptance, if any, for the same.
Use your card securely for purchases and payments over the internet using
Verified by Visa.
Withdrawal
Limit
POS/ecommerce
Total Per
Day Limit
Classic
(visa)
Rs. 50,000
Rs. 50,000
Rs. 50,000
Gold (visa)
Rs. 50,000
Rs. 50,000
Rs. 50,000
Platinum
(visa)
Rs. 50,000
Rs. 1,00,000
Rs. 1,00,000
Signature
(visa)
Rs. 50,000
Rs. 2,00,000
Rs. 2,00,000
Classic
(rupay)
Rs. 50,000
Rs. 50,000
While traveling internationally, the cash withdrawal limit and purchase limit is
equivalent to INR value.
Giving your card and disclosing PIN to someone is like giving a blank signed
cheque.
Beware of "Shoulder surfing", i.e. Shield your PIN from onlookers by using your
body. Once you complete your transaction, check to be sure that you have your
Card and your receipt, and then leave immediately.
24 x 7 UCO BANK helpline numbers: 1800-103-0123.
All other terms & conditions applicable for existing Recurring Deposit
Scheme of the Bank are also applicable to USRDS.
CHAPTER NO: 6
FINANCE SERVICES TO EXPORTS
6.1 UCO GOLD CARD FOR EXPORTERS
UCO launches Gold card for creditworthy exporters - Simplified access to export
credit on very good terms:
Better terms of credit including rates of interest than those extended to other
exporters by the Bank.
Processing of applications for credit faster than for other exporters. Simpler norms,
subject to specific requirements in each case, if any. 'In-principle' limits for a
period of 3 years with a provision for automatic renewal, subject to fulfillment of
the terms and conditions of sanction. Preference for grant of packing credit in
6.1.2 FEATURES:
(The forward covers can be booked in respect of future PCFC drawls.)
In the PCFC drawls permitted in a foreign currency other than the currency of
export, exporter bears the risk in currency fluctuations. The foreign currency
drawls are restricted to major currencies at present. In case, the export order is in a
non-designated currency, PCFC is given in US$. For orders in Euro, Pound
Sterling and JPY, PCFC can be availed in the respective currencies or US$ at the
choice of exporter.
Multi-currency drawls against the same order, are not permitted at present due to
operational inconvenience.
6.1.3 REPAYMENT:
PCFC is to be repaid with the proceeds of the export bill submitted after shipment.
In case of cancellation of export order, the PCFC can be closed by selling
equivalent amount of foreign exchange at TT selling rate prevalent on the date of
liquidation.
The PCFC in foreign currency are granted at our various branches through our
Integrated Treasury Branch in Mumbai.
C) Negotiation of Bills under L/C
UCO's Authorised Forex Branches are active in negotiation/discounting of
sight/usance international export bills under L/Cs opened by foreign banks as well
as branches of Indian banks abroad. UCO offers the most competitive rates. These
transactions are undertaken by our branches within the Bank/Country Exposure
ceilings prescribed by UCO.
D) Export Bill Rediscounting:
UCO provides financing of export by way of discounting of export bills, as a post
shipment finance to the exporters at competitive international rate of interest. This
facility is available in four currencies i.e. US$, Pound Sterling, Euro and JPY.
The export bills (both Sight and Usance) drawn in compliance of FEMA can be
purchased/ discounted.
Exporters can avail this facility from UCO to cover the bills drawn under L/C as
well as other export bills.
E) Bank Guarantees:
UCO, on behalf of exporter constituents, issues guarantees in favour of
beneficiaries abroad. The guarantees may be Performance and Financial. For
Indian exporters, guarantees are issued in compliance to RBI guidelines.
well accepted in the International market. For any special requirement UCO can
get the L/C confirmed by the top international banks.
Thus UCO's L/C facility for the purchase of goods/services etc.Fulfills the
requirements of all importers to arrange a reliable supply.UCO offers this facility
to importers in India within the ambit of FEMA and Exim policy of Govt. Of India.
UCO uses state of the art SWIFT network to transmit L/Cs and with a worldwide
network of correspondents and our overseas branches facilitates prompt & efficient
services to the importers.
C) Financing of Import
Usance L/C facility
UCO's Usance L/C facility provides the importer an opportunity to avail credit
from their supplier/supplier's bank.
Deferred Payment Guarantee/Standby LC
UCO's Deferred Payment Guarantee/Standby LC facility also provides the
importer an opportunity to avail credit from their supplier/supplier's bank.
Rupee finance
UCO also offers to Indian importers Rupee finance for payment of goods and
services imported from abroad under its various Rupee credit facilities, on
satisfying credit exposure norms of the Bank.
Foreign Currency Loans
Short term External Commercial Borrowings or Trade Credits for less than three
years as permitted by RBI for imports into India is allowed by our overseas
branches to Indian importers at very competitive rates. These are generally backed
by L/Cs opened by importer's bank. Indian importers can also avail this facility
from our overseas branches as roll-over credit on their bank agreeing to extend the
L/C in favour of our overseas branches.
D) Bank Guarantees:
UCO, on behalf of importer constituents or other customers, issues guarantees in
favour of beneficiaries abroad. The guarantees may be both Performance and
Financial.
6.5 BANCASSURANCE
Bancassurance in simple terms means marketing of insurance products under the
same roof of a Bank branch. It thus facilitates a customer to carry out all his
financial and investment needs with just a visit to his bank branch.
UCO Bank, apart from its Core Banking activities, has entered into the
Bancassurance Business with the object of offering a variety of services and
products to its customers.
Participation of the Bank's customers shall be purely on a voluntary basis.
It is however explicitly made clear that UCO Bank as Corporate Agent does not
underwrite the insurance risk or act as an insurer as per IRDA (Licensing of
Corporate Agents) Regulations 2002. In brief contract of Insurance is between the
Insurer and Insured and not between the Bank and the Insured.
General Information
Branches of UCO Bank shall obtain the requisite documents at the time of filing
the proposal form with the insurer; and other documents subsequently sought for
by the insurer for the completion of the proposal and issuance of the cover
note/policy.
Branches of UCO Bank shall inform the customers/applicants of the policy, the
prospect about the acceptance or rejection of the proposal by the insurer
Branches of UCO Bank shall advise every individual policy holder to effect
nomination / assignment and or change of address or exercise of options, as the
case may be, and offer necessary assistance in this regard wherever sought for.
Branches of UCO Bank shall offer necessary assistance/advisory services to all
the existing and future policy holder/ claimants and/or beneficiary in complying
with the various requirements for settlement of claim by the insurer and /or
renewal of their policies before the expiry date.
All UCO Medi+Care policies hitherto issued to our customers will be renewed
by Reliance General Insurance Company Ltd on the same terms and
conditions
As insurance is a matter of solicitation, UCO Bank a matter of good banking
practice shall ensure that no customer is forced to buy insurance products of its
channel partners.
REPAYMENT
The maximum period of repayment is 25 years inclusive of moratorium. However,
the monthly interest charged during the moratorium period will have to be paid.
The entire loan will have to be adjusted before retirement or 65 years of age,
whichever is earlier. Repayment may be made by deduction from monthly salary or
by means of post dated cheques. Flexibility in repayment is permissible through
UCO Car
UCO Cash
UCO Trader
UCO Rent
UCO Pensioner
UCO Two
UCO Premier Educational Loan Scheme
Wheeler
UCO Swabhiman Interest Subsidy UCO Education Loan Scheme for
Reverse Mortgage Scheme for
Vocational Education and Training
Loan Scheme for Housing the
Senior Citizen
Urban Poor
(ISHUP)
UCO Gold Loan
Kisan Credit
Card (KCC)
UCO KISAN
TATKAL
SCHEME
DATA ANALYSIS
UCO BANK
QUESTIONARIES
Dear respondent,
We are student of SMT. Sushiladevi Deshmukh college of arts, commerce
and sacience. I am the student of banking and insurance. We have undertake
project for which we intened to pass questionaries aimed at comparing the
customer satisfaction in India sector.
Name of the customer:----------------------------------------------------------------------------------------------Mob. No.:-
--------------------------------
PERSONAL DETAIL
Name of the customer :
____________________________________
Martial status:
Married
Unmarried
Single
Gender:
Male
Female
Occupation:
Salaried
Self Employed/Business
Not Employed
Retired
Other
5)Annual income:
Upto Rs. 1 Lakhs
Lakhs
Rs. 2.5 Lakhs To Rs. 5 Lakhs
Lakhs
QUESTIONAIRRE
DATA ANALYSIS
Are you satisfied with your bank?
YES
NO. OF RESPONDENT
YES
NO
NO
TOTAL
95%
5%
What are the services that you avail from your bank?
NO. OF RESPONDENT
ATM
All services
Internet banking
Credit card
TOTAL
42%
26%
21%
11%
In case of ATM service is 42% , all services is 26%, internet banking is 21%,credit
card is 11% .
NO OF RESPONDENT
TOTAL
YES
53%
NO
47%
NO OF RESPONDENT
Mobile banking
Internet banking
TOTAL
8
11
NO. OF RESPONDENT
YES
TOTAL
11
NO
NO. OF RESPONDENT
TOTAL
YES
12
NO
TOTAL
GOOD
V.GOOD
SATISFIED
12
UNSATISFIED
NO OF RESPONDENT
TOTAL
YES
NO
11
58% are no satisfied to any loan facility if there is regular deposit holder
NO OF RESPONDENT
TOTAL
YES
13
NO
NO OF RESPONDENT
YES
TOTAL
10
NO
Are you a joint account holder? If you are joint account holder it
benefits you are No?
YES
NO
NO OF RESPONDENT
TOTAL
YES
11
NO
61% customers satisfied the joint account holder and its benefits to
them.
NO OF RESPONDENT
TOTAL
YES
NO
10
NO OF RESPONDENT
TOTAL
MOBILE BILL
ELECTRICITY BILL
TELEPHONE BILL
OTHERS
education
NO OF RESPONDENT
TOTAL
Home
vehicle
education
gold
others
NO OF RESPONDENT
ISSUED BANK
ALL OTHERS BANK
TOTAL
2
17
89% customer wanted to ATM card to all others banks and 11% customer wanted
to ATM card t issued bank.
CONCLUSION:
Founded in Kolkata in 1943, UCO Bank is one of the oldest Indian
banks. It was the eminent Indian industrialist Ghanshyam Das Birla who during
the Quit India Movement of 1942, thought of establishing a commercial bank with
Indian capital and management. United Commercial Bank was the outcome of that
idea. It along with 13 others, was nationalized on July 19, 1969. In the year 1985,
its name was changed to UCO Bank.
UCO bank has started a dedicated help desk at zonal office Jalandhar
for attending the calls from customers of Jammu & Kashmir state.
UCO bank is associated with the Prime Ministers National Relief Fund
(PMNRF) for Jammu & Kashmir flood affected as a collection bank.
BIBLIOGRAPHY
http://www.scribd.com
WWW.GOOGLE.CO.IN
www.ucobank.com
www.SBIbank.com
www.scribd.com
Newspapers:
Economic times.
Times of India.
Magazines:
Business Today.
Economic Times.