Uco Deposit Manual

( For Internal use only )
UCO BANK
MANUAL
OF
INSTRUCTIONS
VOL. - 4
( DEPOSITS )
PART - I
UPDATED UPTO 30.11.2006
FOREWORD
Any financial entity is as strong or weak as the systems are. Therefore, in the liberalized and deregulated
environment, the sustenance of the Bank depends to a large extent on internal controls and compliance with
operational guidelines on a continuous basis. It is imperative that such guidelines are modified from time to time
to suit the ever changing socio-economic environment. As the bank comes out with circulars at frequent intervals,
it is simultaneously necessary to revise the manuals which codify the operational guidelines in a subject-wise and
organized manner.
The Banks Manuals of Instruction were last published in 1998. In order to keep pace with the changed
scenario, we have initiated steps to revise the manuals as under :
1.
Volume-I
Cash
2.
Volume-II
Remittance
3.
Volume-III
Bills
4.
Volume-IV
Deposits (Part-I, II & III)
5.
Volume-V
Sundries & Accounts
6.
Volume-VI (I & II)
Advance General
7.
Volume-VII
Advance Priority Sector-Agriculture
8.
Volume-VIIA
SGSY
9.
Volume-VIII
Advance PS (SSI & Others)
10.
Volume-VIIIA
PMRY / SGSRY / Rural Housing Finance

Scheme / SLRS
11.
Volume-IX
Foreign Exchange
A separate Manual for Computerized branch operation has been circularized. Necessary efforts have been
put in to recast each of the manuals by incorporating the changes that took place during the intervening period of
more than five years. It is expected that the revised manuals will prove to be useful and refreshing to all the staff
members particularly for improving their operational efficiency and confidence. Though utmost care has been
taken in updating the manuals of instruction, any provision thereof which does not conform to the latest
instructions on the point may be brought to the notice of the concerned Department.
It is fervently hoped that these manuals will prove to be useful to the members of our staff for improving
the quality of their work through proper understanding of the significance of the tasks to be performed by them.
( V. SRIDAR )
Chairman & Managing Director
UCO BANK
MANUAL
OF
INSTRUCTIONS
DEPOSITS (PART - I)
INDEX
Page No.
1.
CHAPTER
- I
CURRENT DEPOSITS
1 -52
2.
CHAPTER
- II
SAVINGS BANK DEPOSITS
53 -86
3.
CHAPTER
- III
RECURRING DEPOSITS
87 -105
4.
CHAPTER
- IV
FIXED DEPOSITS, KUBER YOJNA DEPOSITS &

DEPOSIT CERTIFICATES
106 -155
5.
CHAPTER
- V
NEW DEPOSIT SCHEMES
156 -224
6.
CHAPTER
- VI
TAX DEDUCTION AT SOURCE (TDS) ON

INTEREST ON TIME DEPOSITS
225 -238
CHAPTER - I
CURRENT
DEPOSITS
( CONTENTS )
Page No.
1. General..................................................................................................................................... 1
2. How to open and who may open the Account.................................................................................1
2.3 Photographs..............................................................................................................................2
3. Introduction...............................................................................................................................3
4. Proper Information in Account Opening Form................................................................................5
5. Know your Customer..................................................................................................................6
6. Requirement of PAN/GIR............................................................................................................9
7. Some Important Instructions...................................................................................................... 10
8. Opening of Current Accounts.....................................................................................................10
9. Different Types of Customer......................................................................................................16
I. Individual Accounts..........................................................................................................16
II. Joint Accounts................................................................................................................ 16
III. Hindu Undivided Family Accounts....................................................................................17
IV. Sole Proprietory Accounts................................................................................................17
V. Partnership Accounts....................................................................................................... 18
VI. Limited Company Accounts.............................................................................................24
VII. Accounts of Clubs, Societies, Associations, Schools etc...................................................... 28
VIII. Trust Accounts..............................................................................................................29
IX. Executors and Administrators Accounts.............................................................................31
10. Special Precautions in Opening Account of Sole Proprietary Firms &
Unregistered Partnership Firms...............................................................................................32
11. Statement of Account / Pass Book..............................................................................................33
12. Transfer of Accounts................................................................................................................34
13. Undesirable Accounts.............................................................................................................. 39
14. Closing of Accounts.................................................................................................................40
15. Transfer to Inoperative Accounts............................................................................................... 41
16. Incidental Charges / Service Charges etc.....................................................................................41
17. Balance Confirmation.............................................................................................................. 41
18. Balancing...............................................................................................................................42
19. Yearly Closing........................................................................................................................ 43
Annexure-I : A/c. Opening Form (For Other than Individuals) D-1 (Revised) ..
44
Annexure-II : A/c. Opening Form (For Individuals) DS-1A (Combined)......................................48

20. Declaration form for Current Accounts opened by Individuals.......................................................51
21. Current Deposit Account Rules................................................................................................. 52
CHAPTER - II
SAVINGS
BANK
DEPOSITS
( CONTENTS )
Page No.
1. General................................................................................................................................... 53
2. Introduction of Accounts...........................................................................................................53
3. Photograph..............................................................................................................................53
4. Who can open Savings Bank Account......................................................................................... 54
5. Minimum Balance....................................................................................................................56
6. Opening of Account..................................................................................................................57
7. Requirement of PAN/GIR No.....................................................................................................59
8. Know your Customers.............................................................................................................. 59
9. Deposit of Cash....................................................................................................................... 64
10. Collection & Clearing of Instruments.........................................................................................64
11. Withdrawals............................................................................................................................64
12. Undesirable Account................................................................................................................68
13. Overdraft in SB Accounts.........................................................................................................68
14. Standing Instructions............................................................................................................... 69
15. Interest...................................................................................................................................69
16. Pass Book.............................................................................................................................. 69
17. Transfer of Account................................................................................................................. 71
18. Teller Service..........................................................................................................................76
19. SB Accounts of Staff members..................................................................................................78
20. Special Incentive to Staff members............................................................................................ 79
21. Balance Confirmation.............................................................................................................. 80
22. Transfer to Inoperative Account.................................................................................................80
23. Closing of Accounts.................................................................................................................80
24. Transfer of Balances to new Ledger folio....................................................................................81
25. Balancing...............................................................................................................................82
26. Yearly Closing........................................................................................................................ 82
27. Special Instructions for Computerized branches...........................................................................82
28. UCO No-Frills Savings Bank Account....................................................................................... 83
29. Savings Bank Account Rules.................................................................................................... 85
CHAPTER - III
RECURRING
DEPOSITS
( CONTENTS )
Page No.
1. General................................................................................................................................... 87
2. Opening of Account..................................................................................................................87
3. Deposit of Instalments & Penal Charges......................................................................................89
4. Transfer of Account..................................................................................................................90
5. Premature Payment...................................................................................................................93
6. Interest on irregular / discontinued Recurring Deposit Account...................................................... 94
7. Payment in maturity................................................................................................................. 98
8. Addition/Deletion/Substitution/Change of Names in RD Accounts..................................................99
9. Conversion of Recurring Deposit Account to FDR/KY/DC Account............................................... 99
10. Mode of Payment of Deposit where aggregate amount Rs. 20,000/- or more
100
11. Provision of interest at quarterly closing...................................................................................100

12. Overdue Recurring Deposit.................................................................................................... 100
13. Reinvestment of Overdue Recurring Deposit Account................................................................100
14. Intimation of maturity date to depositors...................................................................................101
15. Balancing.............................................................................................................................101
16. R.D. Account Rules............................................................................................................... 102
CHAPTER - IV
FIXED DEPOSITS, KUBER YOJNA DEPOSITS AND
( CONTENTS )
Page No.
1. General................................................................................................................................. 106
2. Who can open an Account....................................................................................................... 106
3. Introduction of Accounts.........................................................................................................107
4. Rate of Interest...................................................................................................................... 108
5. Opening & Conduct of Accounts.............................................................................................. 108
6. Spoilt Fixed Deposit Receipts.................................................................................................. 117
7. Custody of Fixed Deposit Receipt Books...................................................................................117
8. Fixed Deposit Receipts........................................................................................................... 117
9. Kuber Yojna & Deposit Certificate........................................................................................... 126
10. Premature extension of Fixed Deposits (FD/KY/DC)................................................................. 134
11. Issuance of Duplicate Term Deposit Receipts (FD/KY/DC).........................................................137
12. Transfer of Account............................................................................................................... 140
13. Renewal of Term Deposits (FD/KY/DC).................................................................................. 143
14. Renewal of overdue Term Deposits (FD/KY/DC)...................................................................... 146
15. Intimation of due date to depositor...........................................................................................147
16. Cash Payment & provision of Income Tax Act.......................................................................... 148
17. Payment to third party............................................................................................................151
18. Addition and deletion of names............................................................................................... 151
19. Overdue Term Deposit Receipt................................................................................................152
20. Transfer to Inoperative Account...............................................................................................153
21. Restriction on premature withdrawal........................................................................................153
22. Balancing.............................................................................................................................153
23. Brief Fixed Deposit Account Rules..........................................................................................154
CHAPTER - V
NEW
DEPOSIT
SCHEMES
(CONTENTS)
Page No.
1. New Deposit Schemes (General)..............................................................................................156
2. Two Way Deposit Scheme.......................................................................................................157
3. Friend-in-Need Deposit Scheme...............................................................................................163
4. Flexible Fixed Deposit (FFD) Scheme...................................................................................... 167
5. UCO Laxmi Yojna..................................................................................................................177
6. UCO Tax Saver Deposit Scheme 2006...................................................................................... 181
7. Special Deposit Scheme for Senior Citizens...............................................................................184
8. Floating Rate Deposit Scheme................................................................................................. 187
9. UCO Sanjeevan Bima Yojna.................................................................................................... 198
CHAPTER - VI
TAX
DEDUCTION AT SOURCE ON
TIME DEPOSITS
INTEREST
ON
( CONTENTS )
Page No.
1. General................................................................................................................................. 225
2. Quantum of interest on which TDS will be applicable.................................................................225
3
Rate of TDS........................................................................................................................225
4. TDS is not applicable in following cases................................................................................... 225

5. Important points to take a note................................................................................................. 226
6. Branches need not deduct tax...................................................................................................226
7. When tax is to be deducted......................................................................................................227
8. Form 15H & role of branch..................................................................................................... 227
9. Accounting Procedure.............................................................................................................228
10. Tax Deduction Accounting Number (TAN)...............................................................................228
11. Deposit of Tax in Government Account....................................................................................228
12. Issuance of Certificate for TDS............................................................................................... 228
13. Submission of Annual Returns................................................................................................ 229
14. Banks power to make adjustment............................................................................................229
15. Refund of Tax....................................................................................................................... 229
16. Penalty for non compliance.....................................................................................................230
17. Specimen of Form 15H.......................................................................................................... 231
18. Specimen of Form 16A.......................................................................................................... 234
CHAPTER - I
CURRENT
DEPOSITS
1.
GENERAL
1.1 One of the
most
important
functions
of
the
branch is to
accept
deposits
from
the
public
for
the purpose
of lending.
Current
Account
means
form
of
demand
deposit
wherefrom
withdrawal
s
are
allowed
any
number of
times
depending
upon
the
balance in
the account
or upto a
particular
agreed
amount and
will
also
include
other
deposit
accounts
which
are
neither
Savings
Deposits
nor
Term
Deposits.
1.2 In
current
accounts,
as
the
money
deposited
can
be
withdrawn
at any time,
as there is
no limit as
to
the
number of
withdrawal
s, there is
significant
work
involved
for
the
bank.
Considerin
g this, the
bank does
not pay any
interest on
such
accounts.
2 . HOW TO
OPEN AND
WHO MAY
OPEN THE
ACCOUNT :
2.1 Current
account
holder
should
have
a
proper
authority to
conduct the
account.
2.2 A Current
Account
can
be
opened by
a) An
indiv
idual
who
has
attai
ned
the
age
of
majo
rity.
b) More
than
one
indiv
idual
in
their
joint
name
s (all
bein
g
majo
r
perso
ns)
c) Joint
Hind
u
Fami
lies
d) Sole
Prop
rietor
ship
e) Regi
stere
d
and
Unre
giste
red
Partn
ershi
p
firms
.
f) Priva
te
and
publi
c
limit
ed
com
panie
s.
g) Club
and
socie
ties
h) Trust
s
i)
Othe
rs
viz.
Exec
utors
and
Adm
inistr
ators
.
Liqui
dator
s.
j)
Gove
rnme
nt
and
semi
gove
rnme
nt
bodi
es.
k) Provi
dent
Fund
s
l)
Bank
s,
LIC,
Subs
idiari
es of
GIC
etc.
m) Befo
re
open
ing a
Curr
ent
Acco
unt,
a
decla
ratio
n
is
requi
red
to be
obtai
ned
from
the
appli
cant
regar
ding
credi
t
facili
ties,
if
any,
enjo
yed
by
the
appli
cant
at
any
other
bank
and
in
case
such
credi
t
facili
ties
are
enjo
yed,
the
parti
cular
s
there
of
are
to be
furni
shed.
RBI
has
now
direc
ted
that
wher
e the
appli
cant
is
enjo
ying
credi
t
facili
ty
(fund
base
d or
nonfund
base
d)
from
the
bank
ing
syste
m,
the
acco
unt
will
not
be
open
ed
with
out
speci
ficall
y
obtai
ning
a
NoObje
ction
Certi
ficat
e
from
the
lendi
ng
bank
(s).
MANUAL OF INSTRUCTIONS VOL. 4 (DEPOSITS) PART-I
UCO BANK
It is to be carefully noted by all branches/offices that non-adherence to the above discipline could be
perceived by RBI to be abetting the siphoning of funds and such violations would make the Bank
liable for penalty under Banking Regulation Act, 1949.
n) Where the due diligence is carried out on the request of a prospective customer who is a
corporate or large borrower enjoying credit facilities from more than one bank, the branch may
inform the consortium leader, if under consortium, and the concerned banks, if under multiple
banking arrangement.
Branches may open current accounts of prospective customers in case no response is received
from the existing bankers after a minimum waiting period of a fortnight. If a response is
received within a fortnight, branches should assess the situation with reference to information
provided on the prospective customer by the bank concerned and are not required to solicit a
formal no objection, consistent with true freedom to the customer of banks as well as needed
due diligence on the customer by branch.
Branches are advised to be guided by the need for effective due diligence in these matters as
also the objective of customer satisfaction and ensure prompt and serious attention to references
received from banks in this regard.
2 . 3 PHOTOGRAPHS
For all operative deposit accounts opened on or after January, 1, 1994, branches should obtain
photographs at the time of opening of the accounts of the deposits/account holders who are authorised
to operate the accounts. These photographs should be affixed on account opening forms and specimen
signature cards. Cost of such photographs would be borne by the customers. Operative deposit
accounts for this purpose would mean all deposit accounts which are operated by cheques.
Authorised operators would mean all the persons who are authorised to operate the account as per
declaration made at the time of opening of the account or as per declaration subsequently made by the
account holders in modification of their earlier instructions Authorised Operators would also mean
the persons who are authorised to operate the Bank account on behalf of the firm/ company as is
mentioned in the Deed/Memorandum & Article of Association or in similar other papers.
However, Banks, LIC, subsidiaries of GIC, Local authorities, Government departments, Semi
Government bodies, Provident Funds etc. would remain outside the purview of this requirement. This
requirement may also be waived for staff members opening current account, at the discretion of the
Branch/Managers.
2.4 Current account in the name of a minor should not normally be opened.
UCO BANK
2.5 A Current account should not be opened which is to be operated under a thumb impression, cross
marks or signature by hand of another person.
2.6 Nomination facility is available in respect of Current account of individuals and sole proprietorship
firms.
2.7 For the benefit of credit discipline, depositors while opening current account should be insisted upon
for furnishing a declaration that they are not enjoying any credit facility with any other bank or
declaration giving particulars of credit facilities enjoyed with other Banks. Our current account
opening form D-1 (Revised) already bears such a declaration clause.
Branches are not only to be meticulous in obtaining this declaration from the current account holders,
but also where the applicant is enjoying credit facility (fund based and non-fund based) from the
banking system, the account will not be opened without specifically obtaining a No Objection
Certificate from the leading bank.
2.8 Current account holders should be made well aware that they must not issue cheques without first
ensuring sufficient funds in their account to meet the amount of cheques, so issued. If they do not
adhere to the above financial discipline, they would incur criminal liability under the provision of
section 138 of NI Act, 1881. In addition, the Bank reserves right to take steps to get the account closed
if frequent return of cheques due to want of funds is noticed. A suitable clause to that effect has already
been incorporated into our current account rules.
2.9 Current account is meant for genuine banking requirements only and branches are to ensure that the
facility is not misused.
3 . INTRODUCTION
3.1 Every current account should be properly introduced.
3.2 Introduction of a current account is not merely a formality to get protection u/s 131 of NI Act, 1881,
but also to enable proper identification of the person(s) opening such account, so that it would be
possible to trace the person(s) later in case of need.
3.3 Full particulars of the introducer like full name, address, profession/business, Bank account number
etc. must be available to the bank and be properly recorded.
3.4 The introducer is usually expected to come to bank personally for the purpose. In exceptional
circumstances, when he is unable to call at the branch, the fact of having introduced a new account
should be confirmed by him in writing. For obtaining such confirmation,
UCO BANK
branch may, immediately on getting the account opened, write a letter to such introducer thanking him
for introducing the account and send the same by Registered Post.
3.5 When the account opening form bears the signature of Manager/official of other branch as introducer,
apart from verifying their signatures with the specimen signature available on record, a written
confirmation to that effect should be obtained from such introducer(s).
3.6 Till such time the confirmation is received, (as in case of point no. 3.4 and 3.5 above) branches should
not collect instruments through these newly opened accounts.
3.7 Such letters of confirmation must be well stitched with the Account Opening forms and be preserved.
3.8 Who can introduce a Current Account :

i)
Any current account holder whose account is at least six months old and is being operated in a
satisfactory manner.
ii) A responsible member of the locality, know to the Manager or any officer of the branch,
although the introducer himself may not be an account holder of the branch.
iii) Introductory letter from the commanding officer of the concerned military unit along with the
identity card of the military personnel shall serve the purpose of introduction.
iv) Any officer of the bank having signing power.
v) Any other confirmed staff member of the branch.
NB : Before accepting introduction from a member of staff, the Manager/Asst. Manager/ Officer in
charge of the Deposit Department should have a detailed discussion with the staff member
concerned as to what extant he knows the prospective account holder. Introduction from
member of staff should not be accepted unless after such discussion the Officer concerned is
satisfied that the staff member introducing and the introduced are sufficiently known to each
other to eliminate all possibility of accepting a fraudulent account in the books of the branch.
3.9 When an account is opened by a party who is not personally known to any of the Officers of the
branch, one of the not-too-junior employees of the branch living in the vicinity of
the new customer should be asked to make casual confidential inquiries about him and submit a report
on the following form, within 48 hours.
UCO BANK
Specimen
I had been to and have inquired about
(Locality of new customer)
(Name of the customer)
I am informed that the party is residing/carrying on business there since years
Date :
Signature
Such report should be insisted upon in all cases where the accounts opened are with initial deposit by
other than cash and/or with balances of Rs. 10,000/- and above. These reports should be held along
with the Account Opening Form of the party and should be followed by the usual detailed reports by
the Asst. Manager/Head Cashier.
3.10 The introducer should be required to sign at the column introduced by at the bottom of Account
Opening Form. In this connection the following points should be kept in view.
a) If the introducer is an account holder, his signature should be verified by officer concerned.
b) If the introducer is not an account holder but prominent member of local community known to
Manager or any other Officer of the branch, the Manager/Officer knowing the introducer should
give a certificate to the effect that introducer is known to him and signed in his presence.
c) If the introducer is a member of staff, he should sign introduction in his personal capacity and
not on behalf of the Bank.
Sometimes, the introduction has been signed in Account Opening Forms of customers as under :
For UCO Bank

Sd/-
Manager/Asst. Manager/Officer
Branch
The introductions made in this manner are irregular.
4 . PROPER INFORMATION IN ACCOUNT OPENING FORM :

Our Bank has introduced a common account opening form for Individuals (DS 1A Combined) and one
for other than individuals (D 1 Revised). The account opening form is common for deposits under
Current Account/ Savings Bank/ Recurring Deposit and
UCO BANK
UCO Lakshmi Yojna. Depending upon the constitution of the customer, suitable account opening form
is to be obtained. [ DS 1A Combined is used for all Individuals accounts whether Savings, Current, RD
or UCO Lakshmi Yojna and Form D-1 Revised is used for others like Partnership Firms, Companies
(Private or Public Limited), HUF, Proprietary Concerns, Clubs, Societies, associations, Government
Departments or Local Bodies, etc.]
The account opening form D-1 (Revised) should invariably contain
i)
Full name of the applicant with age. name of father/husband, PAN wehre available
ii) Full postal address with plot no./shop no./lane no./street no./ward no./holding no. etc. as to their;
a) Permanent address
b) Present Residential address
c) Business/Officer address
iii) Profession/line of business/service particulars.
iv) When account of a firm or company is required to be opened apart from all the details about the
activities
and
location
of
the
firm/company,
all
the
above
particulars
of
the
proprietor/partners/directors are to be mentioned.

v) Particulars about account and credit facilities with other bank(s).
vi) Telephone/Cell phone number (if any) are to be noted.
NB : A separate piece of paper may be attached to, in case the space provided for in D-1
(Revised) form is found to be insufficient for the above purposes.
5 . KNOW YOUR CUSTOMER

Before opening any deposit account, the due diligence as required under Know Your Customer
(KYC) shall be made as per guidelines furnished below :
i)
For identification of the Customer of different accounts, the following documents as mentioned
below thereagainst may be relied upon.
Customer Identification Procedure
Features to be verified and documents that may be obtained from customers

Features
Accounts of individuals
Legal name an any other names
used
Documents
(i) Passport (ii) PAN Card (iii) Voters Identity Card
(iv) Driving Licence (v) Identity Card (subject to the
banks satisfaction) (vi) Letter from a recognized public
authority or public servant verifying the identity and
residence of the customer to the satisfaction of bank.
CONTD.
UCO BANK
Features
Correct permanent address
Documents
(i) Telephone bill (ii) Bank account statement (iii) Letter
from any recognized public authority (iv) Electricity bill
(v) Ration Card (vi) Letter from Employer (subject to
satisfaction of the bank)
(any one document which provides customer information
to the satisfaction of the bank will suffice)
In case of Proprietorship, the Proprietor would need
to be identified as above.
For Rural branches in the absence of any of the above
documents, Ration Card/ Certificate from Local Body will
suffice for establishing identity and address of the
applicant.
Accounts of companies
Name of the company
Principal place of business
(i) Certificate of incorporation and memorandum &

Articles of Memorandum & Articles of Association
(ii) Resolution of the Board of Directors to open an
Mailing address of the company
account and list of officials authorized to operate their
Telephone/Fax Number
account (iii) Identification of authorized signatories

should be based on photographs and signatures duly
attested by the company (iv) Power of Attorney, if any,
granted to its managers, officers or employees to
transact business on its behalf (v) Copy of PAN allotment
letter (vi) Copy of the telephone bill.
Accounts of partnership firms
(i) Registration Certificate, if registered (ii) Partnership
Legal name
Deed (iii) Power of Attorney granted to a partner or
Address
an employee of the firm to transact business on its
Names
of all partners and their behalf (iv) Any officially valid document identifying the
addresses
partners and the persons holding the Power of Attorney
Telephone numbers of the firm and
and their addresses (v) Telephone bill in the name of firm/
partners
partners.
Accounts of trusts & foundations

Names
of
beneficiaries
(i) Certificate of registration, if registered (ii) Power of
trustees,
settlers, Attorney granted to transact business on its
behalf
and signatories
(iii) Any officially valid document to identify the trustees,
names
and addresses
founder, the managers/
and the beneficiaries
Telephone/ fax numbers
of the settlers, beneficiaries and those holding Power of

directors Attorney, founders/managers/directors and
addresses (iv) Resolution of the managing body of the
their
foundation/association (v) Telephone bill.
UCO BANK
All Documents/Certificates should be verified from Original and duly certified. File copies of
duly certified documentary evidence of identity must be readily retrievable and must be retained
for statutory period of 10 years.
ii) Particular care is to be taken to identify the ownership of accounts and safe deposit
facilities. This implies that the person/persons who operate the account is/are the genuine
person/persons and is legally authorised to operate the account as proprietor, partners, director,
trustee or under registered power of attorney. In other words no benami account or account
having suspicious identify should be allowed to be opened. Prospective customers signature on
Account Opening Form (AOF) should be obtained in presence of Banks Officials.
iii) For prospective corporate bodies, certificate of incorporation, certificate for commencement of
business etc., should be obtained and for other business customers, certificate of enlistment,
trade license etc. should be insisted upon. In case of doubt verification should be made at the
concerned Office.
iv) In addition, residential address of the partners/proprietors/promoters/directors should be insisted
upon as a means to establish identity. In case of suspicion visit may be made at the place of
working of the account holder and the visit report should be kept in the account opening folder.
v) Whenever possible, the prospective customers should be interviewed personally. Accounts must
be got properly introduced by the individual/firms/companies acceptable to the bank. A letter of
thanks should be sent to the introducer on the day of opening the account.
vi)
In case of accounts opened by intermediaries on behalf of a third party, the bank should seek
confirmation from applicants whether they are acting on behalf of others and if so, bank should
obtain satisfactory evidence of the identity and capacity of such applicants. Bank should also
obtain satisfactory documentary evidence of the underlying principals identity and the source of
funds.
vii) In respect of one of transactions of large size not involving a regular customer, the identity of
both the sender of funds and recipient as also the economic/ business activity should be inquired
to the satisfaction of the bank.
viii)
Special attention should be paid to all complex, unusual large transactions and all
unusual pattern of transactions, which have no apparent underlying economic or business

purpose. It should be clearly noted that significant business transac-tions will not be conducted
with the customer who fail to provide evidence of their identity or do not furnish satisfactory
purpose of the significant banking transaction which may be unusual or unrelated to their
normal banking transactions.
UCO BANK
ix) The status of the account and not the length of relationship of the customer with the Bank should
be the main criteria for considering high value transactions.
While implementing the above guidelines it is to be ensured that none of the legitimate customers is
denied the normal banking services.
6 . REQUIREMENT OF PERMANENT ACCOUNT NUMBER (PAN) OR GENERAL

INDEX REGISTER (GIR) NUMBER WHILE OPENING CURRENT ACCOUNT
With effect from 1st November 1998, it has become obligatory on the part of Banks to obtain PAN or
GIR number from the persons opening current account under the provision of Rule 114B of Income
Tax Rules 1962. PAN or GIR Number is to be mentioned on the account opening form. The details of
guidelines in this regard are furnished below.
i)
Every prospective account holder at the time of opening current account shall be required to
furnish PAN or GIR number on the account opening form.
ii) If the party is not an Income Tax Assessee, he shall have to give declaration in Form No. 60.
iii) If the party is not an Income tax assessee because he derives all his income only from
agricultural sources, he shall have to give declaration in Form No. 61.
iv) Under the provision of Rule 114 B of IT Rules 1962, it would be necessary for the Bank to
verify the proof of residence also at the time of opening account.
NB : PROOF OF RESIDENCE can be verified from any one of the following documents.
a) Ration card
b) Passport
c) Driving licence
d) Identify card issued by any institution
e) Telephone Bill/Electricity Bill showing residential address.
f) Any document or communication issued by any authority of central government/ state
government or local bodies showing residential address.
g) Any other documentary evidence in support of the residential address.
v) One copy of each of form 60/Form 61 received during a financial year shall be forwarded to the
concerned Director of Income Tax (Investigation) in two instalments i.e. the forms received
from 1st April to 30th September shall be forwarded latest
UCO BANK
by 31st October of the same year and the forms received from 1st October to 31st March shall
be forwarded latest by immediately following 30th April.
NB : One copy of each of Form 60/Form 61 is to be retained at the branch along with the
account opening form.
7 . SOME IMPORTANT INSTRUCTIONS, TO BE ADHERED

a)
The depositor(s) shall be required to put their signature on account opening form, specimen
signature card and other related declaration(s), in the presence of Head of the branch/officer-incharge of deposit department/any other officer of the branch, who will put his/her signature on
specimen signature card confirming the above.
b) The opening of new account should be authorised by the Head of the branch or at large VL and
EL branches by the Sr. Manager/Manager in charge of the deposit/ accounts department.
c) Residential address of the prospective depositor(s) is to be verified from the documents as
mentioned in point No. 6(4). However, in case of suspicion, the address, so furnished should be
verified by the independent visit by any official of the branch and such a report in writing shall
be kept on record.
d) When the introducer has not visited the branch in person, a letter of confirmation should be
obtained from him.
e) Photograph of all the depositors must be invariably obtained in all the accounts.
f) Branches should be extra vigilant in newly opened accounts. A close watch is
required at least for first three months in order to guard against any fraudulent or doubtful
transaction taking place therein. The first cheque book issued to a customer must contain the
words, New Account on all leaves.
g) Branches should exercise extra vigil on collection/clearing transaction of high value instruments
in the newly opened accounts.
h) PAN/GIR Number or alternately declaration in Form 60/61 must be obtained at the time of
opening current account.
8 . OPENING OF CURRENT ACCOUNTS

General Guidelines
In the
small and
medium size branches, Manager should authorised to
opening
the current
accounts. In bigger branches, this work may be handled by
Officer-in-charge of Deposit Department. (Also please refer point no. 7(b) above)
10
UCO BANK
The minimum balance required opening a current account & the minimum balance to be
maintained is dependent upon the area where the branch is located and is as per the schedule
furnished below :
Minimum Balance Schedule : Current Account

Metropolitan
Urban
Semi-Urban
Rural
Individuals
3000
3000
2000
1000
Others
5000
5000
2500
2000
If the above stipulated minimum balance is not maintained in subsequent course of transaction
penal charges as may be fixed by the bank from time to time should be realised. The prospective
account holder(s) should be required to fill up and sign account opening form and other papers
in the presence of officer concerned.
The account holder should be properly introduced as has been mentioned infra.
There are chances that a branch may receive request for opening an account whose title is same
or has great similarity to an existing account. In such cases the undernoted procedure should be
followed.
a) Accounts in the same name by different parties :
The branch can request the customer to slightly alter the title of his account or to use a
suffix.
Suppose branch is having an account in the name of M/s Ram Trading Company, who are
cloth merchants. Another party M/s Ram Trading Company, dealing in Iron and steel
approaches the branch for opening current account. In such case, branch may request the
second customer to add the word Steel Merchant in brackets after the title of the
account. In the same way, branch may request the first customer (who has already opened
the account) to add the work Cloth Merchant in brackets after the title of the account,
but only after explaining to him the situation, and that too, only if the account holder
agrees.
b) Account in same name by same party :
In case, an account holder already has one account titled Mohan Trading Co., Later the
same account holder wants to open another account in the same name i.e. Mohan Trading
Co. In such cases, branch should request the party to use the suffix like Account No. 1
and Account No. 2.
11
UCO BANK
Note : In both the above cases, branch should request the account holders to made use of
the suffix to the title in all their correspondence with the bank, particularly in the
pay-in-slips, cheques etc.
c) Accounts with similar names by different parties
Suppose, branch already has a current account in the name of Mohan Lal & Sons.
Another account in the name of Mohan Lal & Bros. is opened in such a case the ledger
keeper should be advised to be cautious by noting the words. Care similar account on
ledger headings of both the accounts. These instructions should preferably be written in
red ink to drawn immediate attention.
The account opening form should be carefully scrutinised by officer concerned and if he is
satisfied that it has been correctly and properly filled in and signed and that all the relevant
documents have been received he should put his signature in full in the column Signature
verified in AOF and specimen signature card. He should also fill in and authenticate columns
about State of operation i.e. single or joint and name of account at the left hand bottom corner.
Signature of introducer should also be verified on account opening form.
The account opening form should be referred to Manager for his authority to open the account.
Manager should properly scrutinise it in relation to various points mentioned in foregoing pages.
If satisfied, he should give his permission by signing in the box Open the account in the right
hand bottom corner of account opening form.
While opening the account, the first deposit should be in cash. Pay-in-slip (Form No. D-3)
should be used which as usual should be entered in cash scroll and sent to cash department for
receiving cash from depositor.
On receiving the pay-in-slip after receipt of cash, the current account should be
opened after making an entry in account opened and closed register. Care should be taken to see
that pay-in-slip contains Cash Received stamp duly signed by Chief/Head Cashier Account
number should also be written on account opening form.
Cheque book should be issued after completing all the necessary formalities. (Refer Chapter VII
Cheque Books)
In the ledger, the account should be opened alphabetically and all necessary
12
UCO BANK
particulars such as name of account holder(s) address, account number, instructions for
operation of account, cheque book number etc. should be written on ledger folio. All the
particulars should be checked and initialed by Officer concerned who should also sign on the
ledger folio. (For detailed instructions, kindly refer Chapter VI Opening of accounts)
Pass book duly checked and signed by officer concerned, if so desired by customer should be
issued otherwise standing instructions for sending statement of account should be noted.
Particulars such as issuance of pass book, cheque book, numbers, initial deposit etc. should be
noted on the reverse of account opening form against appropriate columns under initials of
Officer concerned.
The bank has introduced tierised current accounts to provide additional services to the current account
holder customers depending upon the average balance maintained in their current accounts. These
facilities are available in all CBS enabled branches and selected fully computerised branches at
present. The three tierised current accounts are namely. Basic, UCO value and UCO Premium. The
features of the scheme are given in a tabular form as under :
13
MANUAL OF INSTRUC
CURRENT ACCOUNT PRODUCTS

Features offered
Minimum Monthly Average Balance
(estimated as average of daily
balance)
Account opening Bal.
Charges on Non-Maintenance of
Monthly Minimum Balance
Transfer/Clearing Charges :
l
UCO BANK
14
CURRENT ACCOUNT PRODUCTS

Features offered
l
Instant credit of outstation

cheques
Cheque
bounce protection
(OD facility
to be adjusted
in maximum of 7 days)
Statement of
Stop Payment
Standing Instruction Charges
Account
Charges
Discount (Branch Managers

discretion) on
lockers
(subject to availability of Lockers)
ATM Card/ Debit Card
UCO Value
upto Rs. 15,000
Upto Rs. 15,000 in 1st yr &

upto Rs. 25,000 after 1 yr
of satisfactory services
No
upto Rs. 25,000
Quarterly, additional
charged at Rs. 28/per statement
Free-fortnightly
intervals charged at
Rs. 28 per statement
Rs. 56/- per cheque
Free
Rs. 12/- per transaction
Free
Full Charges,
depending on the type of
locker
15% discount+
Preference
Free
Free
Balance
Solvency
Cheque Pick up
No
Rs. 30/- per visit
Home Delivery of DDs/

Cheque
book/Passbook
No
Yes
(courier charges
will be recovered)
Accidental
No
Free Gift
Certificate
Basic
Certificate
Insurance
As applicable
50%
discount
As Applicable
15%
discount
No
No
Yes,
upto Rs. 50/-
15
UCO BANK
UCO BANK
9 . DIFFERENT TYPES OF CUSTOMER

I. Individual Accounts :
a) Account Opening Form, DS 1A (combined) and letter of indemnity for collection
of cheques and bills etc. and specimen signature card should be signed by the person
opening the account in his own hand in presence of the officer in charge of the
department.
b) Vernacular Signature Indemnity Letter (D-43), wherever necessary, should be obtained.
However, an indemnity letter need not be insisted upon where the
account opened is operated under signature in the regional language and it is possible to
get such signature verified by an officer at the branch. As far as possible, the person
witnessing the Vernacular Signature Indemnity Letter (D-43) should be an independent
person known to the Bank. If, however, such a person is not available the Manager may
put his signature as a witness after the contents of the Indemnity Letter have been
explained to the customer.
AI. Joint Accounts
a) The name of all the joint account holders should be written on account opening form DS
1A (Combined) and be signed by all of them.
b) All the Joint Holders should be required to sign the declaration as mentioned in
Annexure-II of this chapter, and they should also give clear and precise
instructions about operation of the account. The instruction given in the Declaration
should agree with that given in the AOF.
The blank space in the Declaration should be filled as applicable and should be
authenticated by obtaining signature of all the joint account holders at the margin of the
declaration.
(For details, please refer to chapter on Account of joint Persons)
c) Indemnity Letter for collection of bills and cheques etc. duly signed by all the joint
account holders should be obtained. No separate B-40 is to be taken as it is already
incorporated in the account opening form.
d) Vernacular Indemnity Letter (Form D-43) wherever necessary, should be obtained. It
should be signed by all the joint account holders and not only by the person(s) who are to
operate the account by signing in vernacular.
e) Specimen signature of all the joint account holders on specimen signature card should be
obtained.
16
UCO BANK
f) If the joint account holders want to empower an agent or third party to operate the joint
account, the authority should be signed by all the account holders.
BI. Hindu Undivided Family Accounts :
a) Account Opening Form (D-1) Revised should be signed by the Karta only in the
following manner.
For Ramlal & Sons (H.U.F.)
RAM LAL
Karta
b) Joint Hindu Family Letter (Form A-7) should also be obtained from the Karta and from
all the major co-parceners. First signatory should be the karta and all major co-parceners
sign after him in the individual capacity.
c) Where there are minors in a Joint Hindu Family, it is desirable to have the family letter
(Form A-7) signed by guardians of minor members on behalf of the minors, but it need
not always be insisted upon. In any case, the names of minor members and their dates of
birth should be noted thereon so that the dates on which they would attain the age of
majority may be diarised and a fresh letter (A-7) be taken when any minor attains
majority. It is also important that he signs the earlier letter (A-7) in ratification of previous
transactions.
d) Indemnity Letter for collection of bills and cheques etc. should be obtained from the
karta as well as all the major co-parceners. No separate B-40 is to be taken as it is already
incorporated in the account opening form.
e) Vernacular Signature Indemnity Letter (Form D-43), if necessary, should be obtained.
IV.
Sole Proprietory Accounts :

a) Account Opening Form (D-1) Revised should be signed by the sole proprietor in his
personal capacity and not on behalf of the firm. It should be signed as under :
D.S. Hansraj
Sole Proprietor of Laxmi Traders
b) The declaration A on the reverse of the account opening form should be signed by the
sole proprietor in his individual capacity.
c) The specimen signature of the proprietor appearing on the account opening form,
specimen signature card and Indemnity letter for collection of bills and cheques etc.
should be signed as follows :
17
UCO BANK
For Laxmi Traders

D.S. Hansraj
Proprietor
Note : Sometimes a partnership firm is sole proprietor of another firm. Suppose M/s.
Kamal & Bros., a partnership firm is sole proprietor of M/s Kamal Trading
Company. If branch has to open an account in the name of M/s. Kamal Trading
Company the operation in the account will be as under :
For Kamal Trading Co.
For Kamal & Bros.
KAMAL NATH
Partner
Proprietor
d) Vernacular Indemnity Letter (Form D-43), wherever necessary, should be obtained.
V. Partnership Accounts :
a) Section 4 of Indian Partnership Act 1932, defines Partnership as the relation between
persons who have agreed to share the profits of a business carried on by all or any of them
acting for all
b) When two or more persons join together to carry on a business, they form a partnership
firm.
c) Accounts may be opened in the of partnership provided;
In the case of a partnership carrying of banking business, the number of partners
does not exceed 10 and
In the case of any other partnership carrying on business with the object of making
gain the member of partners does not exceed 20.
Note : The number of persons forming a partnership should be computed as under :
1) where the partnership includes one or more firms among its members, the partners
constituting the firm should be added up individually as members of the
partnership.
2) Where a partnership includes a limited company the company is to be treated as
one member.
3) Where the partnership includes a Hindu Undivided Family, the number
18
UCO BANK
of adult coparceners of the family will be individually added up to ascertain the

strength of partnership.
d) Power of an individual partner to bind partnership firm between the firm and its
partners there is an implied agency, each partner being an agent of the firm for the
purposes of the partnership business. Each partner can therefore bind the firm and his
fellow partner or partners by all acts done in the usual course of their business. All
partners are not liable on contracts entered into by another partner of the firm outside the
scope of the business of the firm. Unless duly authorised by all the partners in writing no
partner has power to do the following.
1) Submit disputes relating to the firm to arbitration
2) Open a banking account on behalf of the firm in his own name.
3) Compromise or give up any claim by the firm.
4) Withdraw a suit filed by the firm.
5) Admit any liability in a suit or proceeding against the firm.
6) Acquire or transfer immovable property on behalf of the firm.
e) The implied power to bind the firm is however not affected by any secret arrangement
between the partners and any party who enters into contract made by a partner in the
usual course, will be entitled to enforce it against the firm, notwithstanding any limitation
of authority, provided he was ignorant of such limitation. Every partner in a trading firm
has an implied power to bind his co-partners by the drawing and endorsing of cheques,
drawing, accepting and endorsing of bills of exchange and making and endorsing of
promissory notes. He has also an implied power to borrow money on behalf of his firm
and sell or pledge any of stock in trade. However, such implied power cannot be inferred
where the Deed of Partnership is explicit on the powers of the partners. It is necessary
that signatures of all the partners are taken on any document charging immovable
property of the partnership as a cover for a loan or overdraft given in the firm. But, in the
non trading firm a partner has no such power unless his acts are authorised by his copartners.
f) A partner is entitled to open a banking account for the firms business provided he opens
it in the firms name but it is established banking practice to obtain the authority of all the
partners. Any one partner has power to countermand the payment of cheque drawn by
another. The death, retirement of bankruptcy of a partner ordinarily puts an end to the
partnership and as
19
UCO BANK
such the authority of any one partner as the agent of the firm is revoked. But the rights
and obligations of the surviving or remaining partners continue for the purpose of
winding up the business. They can therefore deal with the account for winding up the firm
and could consequently confirm any cheques outstanding at the time of death, retirement
or bankruptcy of one of the partners.
g) All partners should join to authorise an outside person to operate on the firms account
and in such cases a mandate to operate accounts signed by the partners is to be obtained.
h) A partner has no authority to pay the firms cheques into private account where a cheque,
even an open bearer cheque, drawn in favour of a firm is sought to be credited to the
partners private account. Bank should make proper inquiries from other partners since
the bank would be considered negligent if it did not make such enquiries in what
apparently appear to be irregular.
i)
In the case of a legal mortgage, all partners must sign, for the partner has no implied
power to bind his co-partners by executing a deed in the name of the firm, unless he is
specifically authorised to do so, in which case the authority itself would have to be by a
deed.
Execution of Guarantee by a Firm :

Where a firm signs jointly with another for the sole benefit of the latter, it would be necessary to have
the authority of all partners, because otherwise it might be held that the guaranteeing of loan was not
the ordinary business of the firm and therefore the partner was not competent to bind the firm.
Dissolution of a Firm :
a) Unless there is an agreement to the contrary, a partnership firm is dissolved on the death,
insanity or insolvency of a partner. In case of such an agreement, the firm will continue even in
the contingency mentioned earlier, as insanity by itself does not dissolve the firm but a partner
or near relative of the insane partner can file a petition in court for dissolution of the firm.
b) When a partnership a dissolved by death, retirement, insanity or bankruptcy the credit balance in
the firms account vests in the remaining partners, who can give the bankers a valid discharge
for the balance outstanding. They can however form a new partnership and open a fresh account.
20
UCO BANK
c) If the account is showing a debit balance at the time of death, insanity, retirement or bankruptcy
of a partner, the operation of firms account should be stopped to preserve the banks right
against the estate of the partner who has died, retired, became insane or bankrupt. If this is not
done the Claytons case will operate.
Claytons Case : Its importance

The important old case has left two lessons
1) Where a debtor keeps two or more accounts with a creditor and pays such a creditor a sum of money in
reduction, the debtor has the right to allocate or appropriate his payment to such account as he may
choose. If the debtor does not exercise this right of appropriation, the creditor is free to do.
2) The rule in Claytons case is of great importance to bankers. The rule is as follows :
In a running account payments in are presumed to be appropriated to payments out
in the order in which the items occur
In a credit account therefore, credits are paid in before debits are paid and the money paid into the
bank is regarded as being available to meet the debits in date order. In an overdrawn account the
credits paid in are similarly allocated towards repayment of the debts and therefore in reduction of the
overdraft. This reduction is often concealed by the payment of fresh debits. The avoid the operation of
the rule, an overdrawn account must be ruled off on notice of certain events (notice of a second
mortgage, notice of death of a partners, expiry of notice of termination of a guarantee) to protect the
banks position. A new account must be opened to continue the customers business and will normally
be maintained in credit. The overdrawn balance of the old account is left as it stands and must not be
taken into account in the working of the new account. If the overdrawn account is not broken in this
way as the running account continues to operate, credits as they are paid in are deemed to repay the old
overdraft while fresh debits, as they are paid gradually build up a new overdraft which is not secured
or in respect of which there is no claim against a person or his estate.
Registration of a firm :
Registration, though not compulsory is advisable. A firm which is not registered cannot enforce its
claims against third parties on the Civil Courts and any partner of the firm cannot enforce his claims
against third parties or his fellow partners. Where a firm is not registered, the Act does not make any
agreement between the partners or any transaction between the partners and third parties void but it
only denies the right of suit. The Act however does not affects the rights of a third party to sue the firm
on any contract even though the firm is unregistered.
21
UCO BANK
Minor admitted to the benefits of Partnership :

a) Minors have no contractual capacity. But a minor can be appointed as an attorney of a person. A
minor cannot be a partner of a firm but can be admitted to the benefits of partnership, but for
debits of the firm, only his share in the firm is liable and the minor cannot be personally held
liable nor can his other property, if any, be attached for debts of the firm.
b) The date of birth of the minor partner should be noted in the partnership letter and the account
opening form should be recorded in the Register of Date of Birth of minors. As soon as the
minor attains the age of majority, it is essential, that a fresh partnership letter is obtained as he
becomes full fledged partner fully liable for the acts of the firm like other partners. A minor shall
give notice within six months after attaining the age of majority as to his election to be in the
partnership.
Documents to be taken :
a) Account Opening Form. The indemnity letter for collection of bills cheques etc. have been
incorporated in the account opening form itself.
b) The Partnership Deed in original for inspection and registration in the books of the of the branch
(in the Power of Attorney Register) and retaining a properly
authenticated copy of it.
OR
When there is no written Partnership Deed and when the account is to run in credit only and the
partners are not willing to register their Partnership Deed with Bank, Partnership Letter (A-5)
signed by all the partners of the firm.
c) A certified copy of the Certificate of Registration issued by the Registrar of Firms, if the firm is
registered under the Indian Partnership Act. (In case the firm is not registered under the said Act,
the fact is required to be confirmed by the partners in a declaration in the Account Opening
Form).
If a certified copy is not available, the Certificate of Registration should be called for in original
for inspection and returned and one authenticated copy thereof retained with the Bank.
Note : The purpose of calling for the certificate of Registration or its certified copy is to check
up and ensure that the Account Opening Form is signed by all the partners of the firm.
Execution of Documents :
1) Account Opening Form should be signed by all partners in their personal names as shown under :
22
UCO BANK
D. S. HANSRAJ
P. D. HANSRAJ
M. D. HANSRAJ
(Partners of Mohan Trading Company)
All cutting of inapplicable words registered/not registered and written/verbal on the face of
account opening form should be authenticated by obtaining signatures of all partners on the
margin side.
Note : Account Opening Form may also be considered to have been properly executed, if signed
in the following form provided the documentation record of the account fulfills one or
more of the undernoted conditions :
For Mohan Trading Co.
Here one or more partners may sign

Partners
Conditions :
a) The partnership is a written one and the Partnership Deed is registered in the books of the bank
and further, there is nothing in the Deed which restricts the power of one or more partners to
open, operate or overdraw a banking account in
the name of the firm.
OR
b) The partnership deed specifically restricts to one or more partners the authority
for the opening and conducting of a banking account and they have signed it and a certified copy
of the deed is on record with the bank and forms the basis of the opening of the account.
OR
c) The partnership Letter (A-5) has been signed by all the partners of the firm and forms the basis
of the account.
2)
The Indemnity forming a part of Account Opening Form should be signed by all the partners in their
personal capacity.
3) The specimen signature of authorised partner(s) on the of Account Opening Form and on specimen
signature card and Indemnity Letter for collection of bills and cheques etc. (B-40) should be in the
manner as shown below :
For Mohan Trading Co.
Sd/- Hansraj
Partner
23
UCO BANK
Note : Sometimes, the partners of firms are Hindu Undivided Families. Suppose M/s. Ram & Sons
(HUF) is a partner of M/s Kamal & Co., a partnership concern. If branch has to open account
in the name of M/s. Kamal & Co. to be operated by partner Ram & Sons (HUF) will be as
under :
For M/s. Kamal & Company
For M/s Ram & Sons (HUF)
RAM LAL
Karta
Partner
4) Partnership letter (A-5) should be signed by all the partners in their individual capacity.
5) Vernacular Signature Indemnity Letter (Form D-43) wherever necessary, should be obtained, it should
be signed by all the partners of the firm and not only by the partner(s) who are to operate on the
account of the firm by signing in vernacular.
6) If there are any minors who have been admitted to the benefits of partnership, their date of birth,
should be obtained and diarised. When any one of them attains majority, it should be found out
whether he wishes to continue as partner or not and branch should act accordingly.
7) Any authority permitting operation on a partnership account by a person other than a partner should be
signed by all partner. A notice from one partner to cancel authority as to signing cheques is sufficient
for the branch to act upon.
VI)
Limited Company Accounts :

a) Limited companies are of two types namely Public Limited and Private Limited.
b) Account Opening Form (D-1), Indemnity letter for collection of bills and cheques etc.
(Indemnity letter has been incorporated in the AOF itself) and specimen signature card duly
signed by authorised operators in the following form should be obtained.
For M/s Mohatta Ltd.

S. R. Mahatta
President/Chairman/Secretary/Director etc.
c) Vernacular Signature Indemnity Letter, wherever necessary should be obtained :
Note : Where account of Limited company is to be operated by person(s) signing in vernacular, it is
necessary to obtain in the resolution authorising the opening and operation of account,
specific authority in favour of the person(s) concerned to
24
UCO BANK
operate on the account by signing in vernacular. In doing so, it should be seen that the
important provisions of our Indemnity Letter (D-43) are incorporated in the resolution so as
to give adequate protection tot he bank for allowing such operations on the account.
d) The following other documents should be obtained
(i) Certificate of Incorporation :
This certificate is issued by the Government only after they are satisfied that all the
necessary requirements under Company Law are fulfilled by the newly formed Limited
Company. The original copy of this certificate should be returned after inspection and a
true copy thereof duly authenticated by officer concerned kept on branch files.
(ii) Memorandum and Articles of Association :

Memorandum of Association is the most important documents. It serves as the charter on
which the company exists and within which it operates. The company cannot undertake
any operations which are not mentioned in the memorandum of Association.
Articles of Association is another important documents which contains regulations for the
management of the internal affairs of the company. Thus, if the bank wants to find out to
what extent the company can conduct its transactions within the scope of its charter, it can
refer to Memorandum of Association. Besides, if the bank wants to find out details
regarding the regulations for the internal management of a company it refer to Articles of
Association.
A copy of the Memorandum and Articles of Association brought up to date and duly
certified, as true and up to date copy by competent Officer of the company should be
kept at branch. Paragraphs affecting the banks relation with the company should be
conspicuously marked and relevant portions noted on the ledger head of guidance. The
Company should be requested to keep the branch informed of any subsequent
amendments to the Memorandum and Articles of Association.
Note : Articles of Association of a company will contain a provision as to who is competent officer
of the company to certify copy of Memorandum and Articles of Association as true and
up to date. These documents should be got certified by such authorised Officials of the
company.
25
UCO BANK
(iii) Certificate of Registration :

According to Companies Act, all limited companies must be registered with the registrar
of Joint Stock Companies. Once the Certificate of Registration is issued to the company,
it is entitled to commence business.
Original of Certificate of Registration should be returned after inspection but a true copy
thereof duly authenticated by Officer concerned should be kept in branch files.
Note : In case of Private Limited Companies, this Certificate is not required.
(iv) Board Resolution :
This is a kind of statement given by Board of Directors resolving that account be opened
with the named bank and stating as to who will open and operate on the account and do
other acts such as dealing with securities deposited with bank etc.
This resolution should be passed on the lines suggested on the Account Opening Form. A
copy of resolution certified to be true copy by Chairman and another competent official
of the company should be kept on branch files and operation on the account allowed in
terms of this Resolution.
Note : The resolution itself will contain a clause as to which officers are competent to certify copy
of resolution as correct and true copy. Branches in this connection are referred to clause
(f) in the proforma of resolution on the Account Opening Form.
(v) A certified list of the Present Directors should be obtained. The company should be
requested to notify changes, if any, from time to time and also to supply published
balance sheets.
Note : The signature of the Chairman of the company on the certified copy of the resolution of its
Board of Directors authorising the bank to open the account and or of its
Director(s)/Secretary or any other authorised Officer (s) of the company in the Account
Opening Form or other documents executed for or on behalf of the company or appearing
in documents sent by it for examination or filling with the bank should, as far as possible,
be known to the branch and in any case, must be verified to the satisfaction of the
Manager before opening the account of or having any dealing with the company.
Special Precautions in case of Limited Company Accounts :
a) Instances have occurred where unscrupulous persons have succeeded in opening accounts in the names
of companies with spurious copies of the Memorandum and
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Articles of Association and Certificates of Incorporation/Commencement of Business etc. and

encashing cheques through such accounts drawn in favour of or payable to a real company with
identical or very similar names.
b) While agreeing to open accounts of limited companies, the branches should take following
precautions.
It should be ensured that the directors of the company are well known and respectable people
and the chairman and/or one or more of the directors of the company are personally known to
Manager or to a responsible officer of the branch.
In the ordinary course of business, the rule should be that no account of a limited company is
opened in the books of a branch whose directors are not known to the Manager or to any of its
other responsible officers. Where, in special cases, such an account is opened after proper
introduction by a respectable and creditworthy constituent, immediate steps should be taken to
make independent enquiries regarding the company and its directors. And pending the
completion of such enquiries no cheques should be accepted for collection in the account of the
company or withdrawals allowed against them.
Except in the case of old established or well-known companies or new companies whose
directors are well-know in business circles, or are known to the Manager, a check up of the
records of the company in the office of the Registrar of Joint Stock Companies both with regard
to the names of its directors and to verify the correctness of the documents lodged by the
company for the opening of their account with the branch should be made.
In case the Registered Office of the company is situated in a centre other than
the one where the branch is established, the check up as referred to above may be
made through a sister branch.
Acting as Bankers to Newly Floated Companies :

a) A branch should not agree to act as bankers to a company to be floated without the prior approval of
Head Office. Whenever a branch is approached for including our banks name in the prospectus of the
company as their banker, a urgent reference should be made to Head Office, giving details regarding
its worth and credit worthiness of each director. While advising its approval Head Office will also
advise the charges to be recovered from the company in this regard.
b) Where the company desires that all branches of our bank should handle applications of its shares,
Head Office should be informed in time to enable it to issue necessary circular. Precise information
should be furnished with regard to dates on which the list opens and
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closes as well as branch to whom proceeds of application money should be remitted. Application
forms for share should be supplied to the branches directly.
c) After obtaining permission from Head Office for opening account in the name of a newly floated
company, branch should open the account in the name of the company and all amounts received as
application money should be credited to this account. Operation on this account should not be allowed
unless the company obtains and produces the certification on incorporation.
d) Allotment money should not be received unless special arrangements are made for the purpose.
VII. Accounts of Clubs, Societies, Associations, Schools etc.
These bodies whether registered under the Societies Registration Act or not are governed by
their Memorandum and Articles of Association or Constitution or Bye Laws. It should be noted
that these bodies, if not registered, have no legal entity.
The following documents should be obtained :

a) Account Opening Form (D-1) should be signed by person (s) authorised to open and
operate on the account in their capacity as officer bearer such as :
For Mohan Sports Club
Secretary, Chairman
The declaration B of the account opening form should be signed by the Chairman/
President and the Secretary of the Society/ Club etc. i.e. by the office bearers, who have
signed the resolution authorizing the opening of the account. The blanks appearing in the
paragraph should be duly filled in by mentioning the name(s) of the person(s) authorized
to open the account.
b) Indemnity Letter for collection of bills, cheques etc. has been incorporated in the AOF.
c) Vernacular signature Indemnity Letter (D-43), wherever necessary, should be obtained.
Note : Where account of a club, association, society etc. is to be operated by person(s) signing
in vernacular, it is necessary to obtain the resolution authorising the opening and
operation of account, specific authority in favour of the person(s) concerned to operate
on the account by signing in vernacular. In doing so, it should be seen that the
important provisions of Indemnity Letter (D-43) are incorporated in the resolution so
as to
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give adequate protection to the bank for allowing such operations on the account.
d) A copy of the constitution and Bye-Laws certified to be true and latest by the Secretary
and/or other authorised persons should be obtained.
e) A copy of the Certificate of Registration with the original should be obtained. Original
may be returned after inspection and copy duly authenticated by Officer concerned kept
on branch files.
f) A copy of the resolution certified as true copy by the Chairman and counter-signed by the
Secretary authorizing the opening and operation of the account and specifying the mode
of operation should be allowed in terms of this resolution.
g) In case of co-operative societies, approval of Registrar of co-operative Societies to open
the account with the bank, if required by Co-operative Societies Act of that state, should
be obtained. Sometimes the Registrar, while giving such permission may impose
conditions on such account, for instance, the Registrar may allow such accounts upto a
certain maximum limit or for a limited period. Such conditions should be carefully noted
by branch and any violation there of by Society should not be permitted.
h) Accounts of Funds which have no regular rules drawn up and are held only temporarily
may be allowed to be opened in individual name(s) of reliable person(s) of standing and
status with the additional words such as Cyclone Fund, Sports Fund, Memorial
Fund etc. Before allowing opening of such accounts, Manager must be thoroughly
satisfied with the bonafides of the party and the circumstances under which such an
account is opened.
VIII. Trust Accounts
a) In case of Trust Account, sums deposited with the bank for credit of an account are, in the
absence of any notice or circumstance putting the bank on notice, presumed to be the property of
the depositor and any claim of any other party, subsequently, to right, title and interest in the
said deposit shall not be recognised by the bank, and such a claimant could only look to the
depositor for redress.
In other words, where there is no such notice, the mere fact that, unknown to the bankers,
moneys are held by the depositor in a fiduciary capacity in no way affects the bankers right to
treat them as the absolute property of the depositor. But if the banker has such notice, either
from information or otherwise, prior to acceptance of the deposit or after that the account is
affected with a Trust, express or implied,
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and that the customer is in possession, or has control, of the money in a fiduciary capacity, he
must regard the money and account strictly in that light and refuse to accept the deposit or
continue it except strictly under its true nature.
Therefore, due diligence and care should be taken while opening current account in the name of
a Trust.
b) Great care is required in conducting trust accounts as in the event of breach of trust by the
trustees, the bank may render itself liable.
c) In the absence of express provisions in the Trust Deed to the contrary.
(vi) All the trustees must sign cheques in the account.
(vii)
Trustees cannot delegate their authority to anyone or more of themselves or to third
parties.
(viii)
Trustees have no implied power to borrow for the purpose of trust.
d) The following documents should be obtained :

Account Opening Form (D-1) duly signed by all the trustees.
(Indemnity Letter for collection of bills and cheques etc. has been incorporated in the
Account Opening Form.)
Vernacular Language Indemnity Letter (D-43), wherever necessary, duly signed by all the
Trustees.
Note : Where account of a trust is to be operated by person(s) signing in vernacular, it is necessary
to obtain in the resolution authorising the opening and operation of accounts, specific
authority in favour of the person(s) concerned to operate on the accounts by signing in
vernacular. In doing so, it should be seen that the important provisions of our Indemnity
Letter (D-43) are incor-porated in the resolution so as to give adequate protection to the
bank for allowing such operation on the account.
Trust Deed in original. A certified true copy of the Deed should be held in branch records and
original returned after inspection.
A resolution signed by all the trustees for opening and operation of the account.
Note : Operation in the account is to be allowed strictly in terms of the Trust Deed. Unless
operation on the account by a lesser number of trustee is authorised specifically in the
Trust Deed all the trustees should be required to operate upon the account jointly.
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IX.
Executors and Administrators Accounts :

a) An Executor is the person appointed in a will by the testator to administer his estate according to
the instructions of his will. The will has to be probated in the court. The court will issue under
its seal and signature of competent official Probate Letter which certifies that the original will
was duly proved on a certain date and to this is attached a certified copy of the will of which
probate has been granted.
b) Where a deceased has left no will or an executor is not named in the will, the court may appoint
an Administrator to deal with the estate of deceased and to wind up his affairs.
c) The duties of both are practically the same except that an Administrator settles the deceaseds
affairs according to law while the Executor settles them according to the terms of the will. The
will or letter of administration therefore comprise the authority of the representatives of the
deceased to deal with his estate and the branch should be thoroughly acquainted with the
contents of the relevant documents before it can open an account for them.
d) Account Opening Form (D-1), Specimen Signature Card and Indemnity Letter for collection of
bills and cheques etc. should be signed by Executor/Administrator.
e) If there are more than one Executor/Administrator, account should be opened in the joint names
of all the Executors/Administrators as follows :
A and B Executors to the Estate of C Deceased.
OR
A and B Administrators to the Estate of C deceased.
All of them should be required to sign Account Opening Form and other documents.
f) Original Probate Order and Will/Letter of Administration should be called for perusal and be
returned and a certified copy thereof should be kept on branch records. The date of the Probate
or Letter of Administration and the name of the court granting it and a brief note of the powers
of the Executors/Administrators should be entered in the ledger folio.
Note : Branches should be very careful in opening accounts in the name of Executors or
Administrators and should thoroughly acquaint themselves with the documents
appointing them and should have no dealing with the estate, until the Official Probate
or Letter of Administration has been produced.
g) Legally, any Executor or Administrator can deal with the funds of the estate on behalf of the
others, unless there is an arrangement to the contrary, but it is always better,
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when opening an account, to get a letter of authority signed by all the Executors/ Administrators
embodying precise instructions as to how cheques and bills etc. are to be signed and endorsed. If
such a letter of authority distinctly provides that cheques are to be signed by two or more of
several executors/administrators, the signature of one should not be accepted and should the
letter of authority be subsequently revoked by one of the parties, cheques must be signed by all
of them thereafter, unless they jointly authorise otherwise. Notwithstanding any arrangement to
the contrary, if an Executor or Administrator notifies the bank that cheques are to be signed by
all the parties, the bank must carry out such instructions.
Note : Although Executors/Administrators may delegate their authority to one of them, they
cannot empower an outside person to operate on the account and such authority must
not be accepted.
1 0 . SPECIAL PRECAUTION IN OPENING ACCOUNT OF SOLE PROPRIETARY FIRMS

AND UNREGISTERED PARTNERSHIP FIRMS
10.1 In view of the fact that registration of firms is not compulsory under Indian law, very few firms of
either of the above two types get themselves registered. In opening account of such firms. branches are
not able, on the reference to the records of the Registrar of Firms, to authenticate or get verification of
the constitution of the firms and of the declaration of the persons claiming themselves to be the sole
proprietors or partners of the firm. The branches therefore have in a very large measure to depend upon
the unauthenticated declaration of the persons claiming to be their sole proprietors or partners.
10.2 The risk that may be involved in opening accounts of firms in this manner and in handling their
collection business cannot be overstated. Accounts of bogus firms may be opened or
false declarations may be made by the so-called sole proprietors or partners about the constitution of
the firms with the purpose of getting collected through their accounts cheques and other negotiable
instruments belonging to genuine firms with similar names but to which the firms in question have a
defective title or no title at all. Branches thus run the risk of being charged for conversion by the true
owners of the negotiable instruments handled and collected and may be even denied the statutory
protection available to banks in the matter of collection of crossed cheques on behalf of their
customers under section 131 of the Negotiable Instruments Act, 1881.
10.3 In order that branches may be able to resist charges of conversion and may successfully lay claim to
the statutory protection, referred to above, they should take the following steps and precautions in the
opening of accounts, particularly accounts of the firms of the type under reference.
a) An account of the firm should be opened only if introduced by a party of high
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business integrity, possessed of good means and who is fully known to the branch. It must also
be ensured that the person introducing the account is in no way directly or indirectly connected
with the firm or the partners of the firm.
b) Simultaneously with the opening of the account of a firm, confidential credit checking should be
made from the market and other sources to verify the correctness of the constitution of the firm
as declared in the Account Opening Form. The result of such credit checking should be recorded
in the folder of the account and other relevant records of the bank.
c) Our foreign branches, if registration of firms is compulsory under the local laws
of the
places at which they are established, should make a search in the office
of the
Registrar of Firms to verify the correctness of the constitution of the
firms, as declared by their partners or as may be given in their Account Opening Forms.
1 1 . STATEMENT OF ACCOUNT/PASS BOOK

11.1 Statements of accounts should be supplied to current account holders once a month or at shorter
intervals if they so desire. They should be sent by post or through bank messenger unless constituents
call at the bank personally to receive them.
11.2 While writing statements of accounts, the following points should be noted :
a) They should be written regularly. The work should not be allowed to fall in arrears. Whenever
the work of the ledger is not heavy and the ledger keeper has sometime to spare, he should
devote his time in preparing statements of accounts.
b) They should be written accurately, legibly and neatly. Brief and intelligible particulars of
transactions must be recorded therein.
c) Care should be taken to see that no entry is missing.
d) Statement should be ended with closing debit and credit summations and a closing balance. If
statement runs into number of pages each page should contain debit and credit summations and
a balance. The closing debit and credit summations and summations at the end of each page
should be done independently and verified with closing balance and tallied with summations in
the ledger. This will prevent possible omission of any entry through oversight or error in
copying the entries.
e) The final balance shown in statement should be written in words also.
11.3 The statement should be initialed by the Ledger Keeper in token of his having correctly copied the
entries from the ledger.
Note : Manager/Asst. Manager should ensure that statement of accounts are in fact
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initialed by the ledger keepers before these are delivered to account holders, For this
purpose, a test check of some of the statement of accounts, may be made at random basis
from time to time by Officer concerned Manager/Asst. Manager or by any other officer
authorised to do so.
11.4 The ledger keeper should affix on ledger folio a rubber stamp Statement sent on
Against the last entry up to which statement has been sent and initial it.
11.5 The statement of account should thereafter be entered in Statement of Account Register and
delivered to customer in person or sent to despatcher against his initials in Register.
11.6 In case of big accounts having large number of daily operations and who required the statements of
their accounts to be sent to them either daily or biweekly, it would be advantageous, if the branches
maintain ledgers with duplicate folios where one page of the ledger may serve as statement of account.
The folios of such ledgers will be in duplicate. The first page printed on the ledger paper will remain
fastened to the bound ledger and the duplicate printed on a thin ordinary paper will have perforation.
After a page is completed that duplicate perforated sheet should be torn from the ledger and sent to the
account holder, after the entries in the statement have been initialed by the Ledger Keeper as
mentioned above. It should be noted that such ledgers should be used for keeping highly operative
accounts where the number of operations are not less than 15 to 20 per day. One side of the ledger
folio as also of the statement of account will remain blank.
Note : Such ledgers should be written with a ball point pen and good carbon should always be used for
a clear and legible impression on the copy meant to be sent to the account holders as
statements of accounts. Faint and illegible impression will only annoy the account holder and
sending of such statements of account will, in a large measure, defeat the purpose of this
procedure.
11.7 At the request of account holder, pass book may be issued in lieu of statement of account and this
fact should be noted in the ledger. For instructions regarding handling of pass books, refer Chapter No.
II Savings Bank Deposits.
1 2 . TRANSFER OF ACCOUNTS
12.1 Bonafide accounts may be transferred from one branch to another free of charge. But if an account
was recently opened with the deliberate object to transfer funds from one place to another free of
charge, a demand for the transfer of the account should be complied with on reasonable charge being
paid by the party.
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12.2 Instructions of a customer for transfer of his account to another branch must be carried out
immediately on receipt of, and in accordance with, the instructions. It must be ensured that along with
the balance of the account, the relative Account Opening Form, Standing Instructions etc. are also
simultaneously sent, under advice, without fail, to the customer, care being taken to ensure that the
advise is sent to him both at his last and present addresses. Failure to carry out the work relating to
transfer of an account promptly and in entirety causes great inconvenience to account holder and
affects banks image adversely.
12.3. Transferor Branch

The following procedure should be adopted by transferor branch.
a) A written request should be obtained from the account holder and he should be requested to
supply the following :
A new Account Opening Form properly filled in for the files of the new branch.
Specimen Signature Card bearing signature of account holder(s)
Pass Book of the account, if issued.
Unused cheque book
Note : The unused cheque book received from the account holder should be held at the branch. A new
cheque book should be issued to the account holder by the branch to which the account is
transferred.
b) Signature of the account holder on letter of request for transferring the account should be
carefully verified by Officer concerned.
c) Officer concerned should see that particulars in new Account Opening Form have been properly
filed in. He should verify and authenticate the signatures of account holder(s) on the Account
Opening Form across a rubber stamp bearing words Confirmed
d) The following entries should be passed
Debit
: Current Deposit Account
Credit
: Head Office Account
e) In the account folio in Current Account ledger the last entry should be made in the following
form :
To amount transferred to branch
f)
The account should be summated and closed and summation noted in the
special folio reserved at the end of the ledger. The following rubber stamp should
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be impressed at the end under signatures of Ledger Keeper and Officer.

Account closed by Transfer to
Branch on unused cheque leaves Returned No.
to No. Entered into Register Folio No.
Asstt. Manager
Ledger Keeper
g) A note about transfer of account should be made under signature of Officer concerned in :
j)
Account Opened and Closed Register
k) Account Opening Form

l)
Specimen Signature Card :
The account opening form and specimen signature card should be cancelled by drawing red line
across the face of the form and card and writing in red ink in bold letters Account closed by
Transfer to Branch, under initials of Officer concerned.
Such account opening forms and specimen signature cards should be taken out and kept in a
separate file.
h) The pass book of the account be made up to date and last entry in it made in the following form
To amount transferred to Branch
Entries in the Pass Book should then be summated and closed. In order to avoid the pass book
beings used again and as a protection the words Account closed by Transfer
to Branch should be written or stamped in bold letters on the
front and inside covers under initials of Officer concerned.
i)
The unused cheque leaves should be entered in Broken Cheque Book Register. The Officer
concerned should take out and destroy the requisition slip attached to cheque book returned. The
right hand bottom corner space of cheque leaves which is used for signature purposes should be
clipped off with the scissors so that the cheque leaves cannot be fraudulently used even if they
fall into undesirable hands. The unused cheque leaves should be held in the custody of the Asst.
Manager till the next inspection after which they should be destroyed and a certificate to that
effect appended in the Broken Cheque Book Register, under the joint signatures of two Officers
in whose presence the cheque leaves are destroyed.
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j)
A credit advice in Form G-4 for the balance amount of account transferred
should be prepared. The advice should also contain the following particulars.
k)
Name of Account holder
Address of Account holder at the place at which account is transferred.
On a separate sheet, the following particulars should be noted
Date when account was opened.
How it was conducted
The average balance maintained in it.
Standing instructions of the Account holder, if any, at record with branch.
Confidential report on the party and if he is an employee or partner of a firm or

company, his position in the firm or company.
l)
IBCN for the amount of balance of the account should be prepared and sent to
transferee branch along with :
Relative advice as mentioned in (j) above
Relative note as mentioned in (k) above
Account Opening Form
Specimen Signature Card.
1 2 . 4 Transferee Branch :
On receiving the IBCN along with requisite document, the following procedure should be adopted by
the transferee branch :
a) The documents received along with IBCN should be carefully scrutinised by officer concerned
and account should be opened after obtaining authority from Manager/Accountant against his
initials in the Account Opening Form.
Note :
1) Account Opening Form should not be accepted if attested by an officer not holding a power of
attorney or in rank below that of an Asstt. Manager.
2)
If account opening form and other documents
as mentioned above have not
been received, the account should not be opened

but the balance of the account
transferred should be held in Sundry Creditor Account. The account holder should be advised
immediately by means of a letter as per specimen given below, to send the document.
It gives us pleasure to advise that we have received a sum of Rs. from
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our branch for opening an account with us in your name

OR
In compliance with your instructions, our Branch has transferred your Current
account to us with a credit balance of Rs. which we are keeping in our Sundry
Creditors account pending completion of the documentation records of the opening of the account.
BH
we shall thank you to please return to us duly completed and signed the enclosed Account Opening
Form and the Specimen Signature Card.
BH
Kindly also let us have the Pass Book of the account for being written up to date and the cheque book to
be exchanged for a new one.
Please note that on receipt of the Account opening Form and the Specimen Signature Card from you,
we shall send them to our branch, from where your account has been transferred for verification of
your signatures thereon and it will be only on receipt of the documents duly authenticated by our said
branch that your account will be opened in our books and we will consider it in order for you to start
drawings on it.
Assuring you of our best services and attention
HHH
Delete where not necessary
On their receipt, Account Opening Form and Specimen Signature Card should be sent to the transferor
branch for verification of signature on it of the account holder. The unused cheque book of the
transferor branch, if received from the party by the transferee branch should be sent back to the former
for their record. Only on receipt of Account Opening Form and Specimen Signature Card with
signatures of account holder duly verified by transferor branch, account should be opened in the books
of transferee branch by reversing entry in Sundry Creditors Account.
b) The following entries should be passed by any of reversal of IBCN.
Debit
: Head Office Account
Credit
: Current Deposit Account
c) An entry should be made in Account opened and Closed Register and a new serial number
should be given to the account which should also be noted in Account Opening Form received
from transferor branch.
d) In the Current Account Ledger, the account should be opened with first entry as follows :
Account transferred from Branch
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All the other necessary particulars such as name and address of account holder, account number,
standing instructions, if any, cheque book number etc. should also be noted which should be
checked and initialled by Officer concerned.
e) A new Pass book should be issued (in case statement of account is not being sent) with first
entry as follows :
By amount transferred from branch
f) A new cheque book should be issued after completion of necessary formalities.
g) The transferee branch should refer the standing instructions, if any, to the account holder and
obtain his confirmation before commencing to act upon them.
12.5 When a branch receives an enquiry from a customer regarding the receipt of his account on transfer
from another branch, it should take up the matter with the transferor branch by letter/telegram, on
branch account, in case it has not received the balance of the account and/or other related papers even
after a reasonable transit time.
1 3 . UNDESIRABLE ACCOUNTS
13.1 Accounts with petty balance frequently running below the prescribed minimum, cause a strain out of
proportion to the value of accounts to the bank. Such accounts may
therefore, be closed after giving due notice, to the constituents concerned that unless they maintain at
all times the minimum balance in their accounts commencing from, say a fortnight from the date of
notice, their accounts would be closed without further reference to them. On expiry of the notice
period, if an account has not been regularised, it may be closed and a Pay Order for the balance sent to
the constituent by registered post with a request in the relative covering letter to return the unused
cheques leaves in his possession. It should, however, be understood
that
encashment
of Pay Order should not be refused because the party has not
yet
surrendered
the unused cheque leaves to the bank.

Note : Manager should use their discretion in the matter and in case of constituents, who give other
remunerative business or whose connections are for any other reason worth retaining, no
action need be taken about closing of such accounts.
13.2 Another type of undesirable and often dangerous account is that of constituents, who issue cheque,
without funds in their accounts, to meet them. It is essential that constituents, who are frequently guilty
of such practice should be warned that a repetition of such a conduct would result in their accounts
being closed. If after, say two warnings, they party still persists in such undesirable practice, a final
notice may be sent advising that
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account will be closed after a certain period, say, fortnight from date of this notice, On expiry of notice
period account should be closed and a Pay Order for the balance sent to the constituent by Registered
post with a request in the covering letter to return the unused cheques leaves in his possession.
13.3 Some constituents follow the practice of issuing cheques in anticipation of realisation of effects sent
by them or who pay in funds almost always at the last moment to meet cheques already presented.
Even effort should be made to discourage this unhealthy practice.
(For detailed instruction, kindly also refer to Chapter No. XII Return on Cheques)
1 4 . CLOSING OF ACCOUNTS
14.1 Wherever possible, a letter should be taken from the account holder requesting the bank to close his
account. His signature on the letter should be verified.
14.2 Charges, if any, to be recovered should be debited to the account.
14.3 The account holder should be asked to draw cheque for the balance amount in the account which
should be paid in the usual manner.
14.4 The account holder should be asked to return the unused cheque leaves, which on receipt should be
entered in Broken Cheque Book Register. They should be dealt with the manner as mentioned in
paragraph No. 16.3 (I).
14.5 The account should be summated and closed and the following rubber stamp impressed at the end
under the signatures of Ledger Keeper and Officer concerned.
Account closed on ..................................................................................
Unused cheques Returned No. ............................................................
To No. ........................................................................................................
Entered into Ledger Folio No................................................................
Accountant
Ledger Keeper
14.6 The debit and credit summation should be noted down on last ledger folio for purposes of summation
balancing.
14.7 A note should be made in the Account opened and closed Register
14.8 If the pass book has been issued in the account, it should also be called and made up to date and
closed.
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In order to avoid the pass book being used again and as a protection, the words Account closed
should be written or stamped in bold letters on the front and inside covers.
The pass Book may be returned to the party if requested by him, otherwise it may be held in the old
records of the branch.
14.9 The Account Opening Form and Specimen Signature Card of the party should be cancelled by
drawing red line across the face of the form and card and writing in red ink in bold letters Account
Closed under the initials of Officer concerned. Such Forms and Cards should thereafter be separately
held in a file.
1 5 . TRANSFER TO INOPERATIVE ACCOUNTS

Current Accounts which are not operated upon for two years should be treated as stale accounts and
transferred to Inoperative Balance Accounts (For detailed instructions, please refer Chapter on
Inoperative Account).
1 6 . INCIDENTAL CHARGES/SERVICE CHARGES INCLUDING INTERESTS

16.1 Though no interest can be paid on current account credit balance there are few exceptions to it.
Interest is payable at Savings Bank rate on the credit balance of a deceased depositors account till
balances are paid to the legal heirs. The system will also apply to sole proprietory firms.
16.2 The minimum balance required to be maintained in a Current Account is as stated in paragraph 8. If
the minimum balance is not maintained, penal charges should be collected as per extant guidelines.
16.3 Service Charges are levied to cover incidental expenses and labour involved in maintaining the
account.
16.4 Ledger Folio charges as due is to be received from the current account holders at the time of each
half-yearly closing of accounts.
1 7 . BALANCE CONFIRMATION
17.1 After every half yearly/yearly closing in March and September Balance Confirmation Letter from
(D-24) should be sent in respect of all Current account including inoperative accounts.
Note : These confirmation letters should be sent only after all the books of branch has been balanced.
17.2 The preparation of confirmation letters should be taken up on hand sufficiently early and all the
particulars filled in except the balance, so that this may also be filled in
41
UCO BANK
immediately the books are balanced on Sept. and March of every year and the con-firmation letters
despatched with the least possible delay. These should be attached to the statements of accounts for the
month of September and March. Debit advice about incidental charges should also be preferably
pinned to the statement of accounts.
17.3 Confirmation letters may be sent through peon or by post under certificate of posting.
17.4 Every effort should be made to get back as many confirmation letters as possible duly signed by the
account holders.
Special attention should be paid to accounts with large turnover and/or heavy balances. Such accounts
should be got confirmed invariably. If confirmation letters are not received back within a reasonable
time, accounts holders should be contacted personally or reminders sent to them.
In the ledger folio of the account which has been confirmed a stamp Balance Confirmed on
should be affixed against the relative balance and initialled by Officer
concerned.
The confirmation letters should be kept in a separate file after verifying thereon signature of account
holders.
1 8 . BALANCING
18.1 Current account ledgers should be balanced once in a fortnight on days to be specified and as often
as the Manager may direct.
18.2 Summation balancing should be done once in six months at the time of half-yearly/ yearly closing.
18.3 Balances of all current accounts should be taken down ledger-wise and their total should tally with
respective balances as shown in Abstract Book. The total balances of all ledgers should tally with
General Ledger figures.
18.4 If the figures do not tally, immediate efforts should be made to locate the error.
18.5 No entries should be passed in adjustment of figures without the matter being brought to the
attention of the Manager / In charge of Deposit.
18.6 The Manager must countersign the Adjustment voucher.
18.7 The Officer, who has been allotted the duty of checking the balances, should check the jotting down
of balances from ledger and also totals in the balance book.
18.8 The final balance in balance book should be written in words and below that a rubber stamp with the
following words should be affixed and signed by persons concerned.
42
UCO BANK
Balanced
by .......................................................... (Clerk)
Checked
by ........................................................... (Officer)
Examined by ......................................................... (Accountant)

Initial of Manager .................................................
(For detailed instructions, kindly refer to Chapter No. XIII Balancing of Ledgers)
1 9 . YEARLY CLOSING
To and By of Current Account Ledgers should be done at the time of yearly closing as on 31st
March every year.
43
ANNEXURE - I [D-1 (Revised) ]
UCO BANK
ACCOUNT OPENING FORM (FOR OTHER THAN INDIVIDUALS)
CURRENT DEPOSIT/ SAVINGS BANK (where applicable) / RECURRING DEPOSIT / UCO LAKSHMI YOJANA
For Office Use

Account No. ...................................
Ledger & Folio No
Customer ID
Initial of Authorised Official
The Manager, UCO BANK,

Branch
Date
Dear Sir,
I/We request you to open / continue a Current / Savings / Recurring Deposit / UCO Lakshmi Yojana Account with your Bank as per particulars given below. I /
We have read and understood the rules in respect of relevant Deposit A/c. and agree to be bound by them as now in force or to any change that may be made
therein from time to time.
Title of
Account ...............................................................................................................................................................................................................................
Address
.............................................................................................................................................................................................................................................
Fax / E-mail ...........................................Constitution ...................................
Tel. No. ...................................................
Line of
Business ......................................................................................................Sources of
Sources
of Annual Income ....................................................................................PAN / GIR
Date of starting business .............
funds .......................................................................................
No. (If not allotted enclose From 60/61) ...........................
Instructions for Operation .............................................................................................................................................................................................................

Particulars of authorised operators of the Account
Photo
Photo
Photo
(1)
(2)
(3)
Full Name (in block letters)
Designation
Nationality
Occupation
Photo
(4)
Residential
Address
Phone No.
1. .....................................................
......................
...............
...................
...................................................
.....................
........................................................
......................
...............
...................
...................................................
.....................
2. .....................................................
......................
...............
...................
...................................................
.....................
........................................................
......................
...............
...................
...................................................
.....................
3. .....................................................
......................
...............
...................
...................................................
.....................
........................................................
......................
...............
...................
...................................................
.....................
4. .....................................................
......................
...............
...................
...................................................
.....................
........................................................
......................
...............
...................
...................................................
.....................
For Recurring Deposit /c.
Monthly
For UCO Lakshmi Yojana A/c. Minimum
Instalment
Instalment
Rs. ...................................................................
Period ......................................
months
Rs. ...................................................................
Period ......................................
months
Necessary documents are attached herewith (As per details given below).
............................................................................................................................................................................................................................................................
............................................................................................................................................................................................................................................................
I/We have no Account with any other bank/ have account with Branch of.. Bank. I/
H
as per Balance Sheet attached . I/We undertake to inform you of

We do not enjoy/ enjoy fund based / non fund credit facility with them
any credit facility availed from another bank
/ another branch of your bank.
H No Objection Certificate from lending bank(s) is to be obtained before

opening
The specimen signature card is submitted herewith for your records.
Please supply me /us a chequebook for our
use. Please note to send us a monthly
the account.
Statement of Account.
Yours faithfully,
1. ..... ............ ........................ ...........
2. ..................................................
3. ...............................................
4. ...........................................
44
UCO BANK
Specimen Signature-cum-indemnity for collection/negotiation of bills etc.
We hereby agree to and authorize your forwarding to your agents or to the drawee bank, Cheques, Drafts or Bills of Exchange (with or without
documents attached) deposited with you by us for collection or negotiation.
We shall keep/ hold you harmless, free
from responsibility and indemnified for any loss suffered by you in handling this business due to
any cause whatsoever including delay
in transit/ presentation, payment or default by your agent.
In addition to your ordinary rights as holders of such cheques, Drafts or Bills of Exchange, you or your agent will be at liberty to accept in payment
thereof and to deliver documents of title that may be deliverable against payment of the said instrument, against a cheque or bankers cheque or any
other instrument for payment in lieu of cash and payable in your station or at any other place and in the event of such instrument being dishonoured,
to debit the amount to our accout with all charges incurred thereon. We conform that you can present
Bills and receive the amount in respect thereof in accordance with the usage
of the place where the Bills
are made payable.
It is understood that the transactions are in all respects at our entire
risk and responsibility.
Full Name
Specimen Signature
Full Name
Specimen Signature
1. .........................................................
.....................................................
2. ...........................................................
.............................................
3. .........................................................
.....................................................
4. ...........................................................
.............................................
(A) FOR SOLE PROPRIETORY ACCOUNTS

I, the undersigned declare that I am the sole proprietor of the firm......................................................................
and am solely responsible for
the liabilities of the firm. I
further undertake that I shall advise you in writing of any change that may take place in the constitution of the
firm resulting from my taking a partner into my business, its sale or disposal or my ceasing to have any interest in the firm, in any of which events, I
will be liable to you on any and all obligations and liabilities which may be outstanding against the firm's name in your books prior to or at the date of
the receipt by you of such notice and until all such obligations and liabilities shall have been liquidated or discharged.
Signature
(B) FOR SOCIETIES, CLUBS OR SIMILAR BODIES

In terms of the certified copy of the resolution of the Executive/Governing body of........................................ dated
handed over to you separately kindly authorise the operation on the accounts by Mr. ......................
....................................(designation) and/or by Mr. ........................................................(designation) and/or countersigned by its Secretary or
Mr. ...............................................................................(designation) and debit the amount hereof to the account.
Chairman / President
Secretary
(C) FOR PARTNERSHIP ACCOUNTS

We, the undersigned, inform you that we are the only partners in the firm .............................................. .................
.............................................................................................. andare jointly and severally responsible for the liabilities thereof. Whenever any change
occurs in our partnership, we undertake to inform you of the same in writing and we shall continue to be liable to you jointly and
severally on any obligation which may be standing in the firms name in your books on the date
of the receipt of such notice and until all
such obligations shall have been liquidated.
We confirm that our partnership is registered/not registered
with the Registrar of Firms and is
written/verbal.
We hereby jointly and severally free you from any liability
for the funds or the security charged
in the account that may be withdrawn by
the remaining partners after the death, bankruptcy or retirement of any partner or partners before receipt of our notice thereof and we hereby
indemnify you against all claims, actions and demands arising from such withdrawal of the funds and/or the securities by the remaining partners. And
we hereby further agree and declare that this agreement shall be binding upon ourselves and our respective legal representatives and you will not be
liable in any way for the operation on the account in the name of the firm or for withdrawal of the funds
and/or securities by any one
or more of us as per mode of operation on the account as authorized by us and recorded with you.
............................................................................
.........................................................................
.........................................................................
............................................................................
.........................................................................
Mention name
of authorized
operator
.........................................................................
Signature
(D) FOR HINDU UNDIVIDED FAMILY A/CS

As our Joint Hindu family firm will have/has dealings with your Bank in the name of the said
firm, we beg to say that the signatory to this letter, viz. is the Karta of joint family and the other
signatories are the adult coparceners of the said family. We all further confirm that the Business of the said joint family firm is carried on
mainly by the said Karta as also by the other signatories hereto in the interest and for
the benefit of the entire body of coparceners of the
said joint family. We all undertake that all claims due to the Bank from the said joint family firm shall
be recoverable personally from all or
any of us and also from the entire family properties
of which the first signatory is the
Karta, including the shares of the minor coparceners
or any future co-parceners.
Our said karta, or any of our other adult parcener is
authorized to represent and sign on behalf
of the said joint family business in a manner
as appears below and has full unrestricted authority
to bind all members of the joint
family however constituted from time to time.
In view of the fact that ours is not a firm governed
by the Indian Partnership Act of 1932, we have not
got our said firm registered under
the said Act.
We will sign on behalf of our firm as follows :
.....................................................................................................................................................
.........................................................................
.....................................................................................................................................................
.........................................................................
45
UCO BANK
(G) FOR LIMITED COMPANY A/CS.
Extracts of minutes of the meeting of the Board of Directors of..................................................................................................
......................................................................................................................................................................................................................................
held at the registered office at........................................................................................................................................................................
................................................................... on
..................................................................................................
RESOLVED
(a) That an account in the name of the company be opened
and that
with UCO Bank at..............................................................
Mr.....................................................................................................
( give name & designation )
and Mr. ................................................................................................
( give name & designation )
is/are authorized to do so and sign the necessary forms and documents therefor.
(b) And that the bank be instructed to honour all cheques, promissory notes and other orders drawn by and all bills accepted on behalf of the company
whether such account be in credit or overdrawn, and to accept and credit to the account of the company all money
deposited with or owing by the bank on any account or accounts at any time or times kept or
to be kept in the name of the company
and the amount of
all cheques, notes, bills, other negotiable instruments, orders or
receipt provided they are endorsed/
H
...................................................................................
and
signed by Mr.
Mr. .........................................
..................................for the time being of the company on behalf of the company and such signature(s) shall be sufficient authority
to bind the company in all transactions between the bank and the company including those specifically referred to herein.
(c) And that Mr. ........................................................ and Mr. ....................................................... be au-thorized

to withdraw and deal with any of the company's securities or properties or documents of title thereto which may be deposited with the bank from
time to time whether by way of security or otherwise.
H
(d) And that Mr. ................................................................... and Mr. .....................................................................
is/are authorized to acknowledge all types of debts and liabilities on behalf of the company.
(e) And that the bank be furnished with a copy of its Memorandum and Articles of Association and a list of the names and specimen
signatures of the Directors and other officer(s) of the company authorized to sign on behalf of the company and be informed from time to time by
a notice in writing under the band of the Chairman of any changes which may take place therein and be
entitled to act upon such notice until the receipt
of further notice under the hand of Chairman.
(f) And that a
copy of any resolution of the Board if purporting to be certified as correct by the Chairman of the meeting or by the Secretary
of the company shall,
and between the bank and the company, be conclusive evidence of the passing of the resolution so certified.
(g) And this resolution be communicated to the bank and shall remain in force until notice in writing of its withdrawal or cancellation is given to the
bank by the Chairman of the Company.
Certified that the above is a correct copy of the resolution passed on ................................................................................... by he Board of
and that it has been entered in the usual course of
Directors of ..................................................................................................................
business in the minutes book
of
the company and signed therein by the Chairman of the meeting/company and is in accordance with
the Memorandum and Articles
of
Association of the Company.
....................................................................
............................................................................
Chairman of the Meeting
Delete one name, if authority is to be vested in single person.
FOR OFFICE USE

FOR RECURRING DEPOSIT A/C : Date of Maturity Maturity Value Rs.
Confirmation obtained over phone :
Name of the person contacted
Introduced by
(Introducer / any other specify)
Name ....................................................................
Date
Telephone No.
Type A/c. ..................... A/c. No. ........................
Letter of thanks sent on
Address ................................................................
...............................................................................
Telephone No. ....................................................
Signature ..............................................................
Signature of Verifying Official
Acknowledgement received on
Particulars including photographs of authorized operations verified from (copy kept in records)
passport/voters ID card/defence ID card/driving licence (laminated card)/PAN
card/credit card with photo.

Introduction by existing account holder maintaining satisfactory account for more than
6 months/introduction
by existing banker.
Signature of the Verifying Officer
Open the Account

Date
Chief Manager/ Sr. Manager/ Manager
46
UCO BANK
Indicative Guidelines for filling up the Account Opening Form
1)
List of Documents to be submitted

according to
the constitution (originals for inspection &
return wherever
List of names and addresses of Partners/ Directors/ Trustees/ Managing Committee Members/ Karta and coparceners to be
obtained.
applicable).
a)
Sole-Proprietorship Firm
: Copy of legal status of the account holder evidencing the name of the account and sole
proprietors name e.g. Trade License, Shop & Establishment Certificate etc.
b)
Partnership
Firm
Partnership deed and/or registration certificate/ partnership letter (A-5).
c)
Joint Stock
Companies
(i) Copy of Memorandum and the Articles of Association,

(ii) Certificate of
Incorporation,
(iii) Certificate of commencement of business/Registration Certificate, (iv) Certified copy of
the Resolution of Board of Directors.
d)
Trust
e)
Clubs, Societies, Association

& Other similarbodies
: (i) Constitution & bye-laws, (ii) Certificate of Registration, (iii) A copy of the resolution certified
as true copy by the Chairman and countersigned by the Secretary authorising the opening
and operation of the account and specifying mode of operation, (iv) Certificate of taxexemption, if any.
f)
HUF
: Letter to be filled up (A-7)
Accounts
: (i) A certified true copy of the Trust Deed, (ii) Resolution signed by all the trustees,
(iii) Certificate of tax-exemption, if any.
2)
The person signing as introducer must be well known to the Bank/ existing account-holder for more than six months with satisfactory operations.
3)
Please mention the mode of operation of the account and the names of officials with designation duly authorised to operate the account as per resolution.
4)
Organisations/
bodies not permitted to open Savings Bank Accounts :
i. Government departments/ bodies depending upon budgetary allocations for performance of their functions.
ii. Municipal Corporations or Municipal Committees.
iii. Panchayat Samities.
iv. State Housing Boards
v. Water and Sewerage/ Drainage Boards
vi. State Text Book Publishing Corporations/ Societies.
vii. Metropolitan Development Authority
viii. State/ District level Housing Co-operative Societies.
ix. Any political party, which is or is deemed to be registered with the Election Commission.
x. Any trading/ business or professional concern, whether such
an association.
5)
Organisations/
concern is a proprietary or a partnership firm or a company or
bodies permitted to open Savings Bank Accounts :
i. Primary Co-operative Credit Society, which is being financed
by the Bank.
ii. Khadi and Village Industries Board.

iii.Agriculture Produce Market Committee.
iv. Societies registered under the Societies Registration Act, 1860 or any other corresponding law in force in state or a Union Territory.
v. Companies governed by the Companies Act, 1956 which
the said Act, or under the corresponding provision in the
the words Limited or the words Private Limited.
vi. Institutions other than those mentioned in (4) above
under the Income Tax Act, 1961.
vii.
have been licensed by the Central Government under

Indian Companies Act, 1913 and permitted not to add
and whose entire
income is
exempt from
payment
Section 25 of
to their names
of
income-tax
Government departments/ bodies/ agencies in respect of grants/ subsidies released for implementation of various programmes/ Schemes
sponsored by Central Government/ State Governments subject to production of an authorization from the respective Central/ State Government
departments to open savings bank account.
viii. Development of Women and Children in rural Areas (DWCRA).

ix.
Self-help Groups (SHGs), registered or unregistered, which are engaged in promoting savings habits among their members.
x. Farmers Clubs Vikas Volunteer Vahini VVV.
47
ANNEXURE - II [DS-1A (Combined) ]
UCO BANK
To be kept in dual custody at the branch

For Office use
Type of A/C :
A/c. No
ACCOUNT OPENING FORM (FOR INDIVIDUALS)

Current Deposit / Savings Bank / Recurring Deposit / UCO Lakshmi Yojana Account
The Manager, UCO Bank
...................................
.................
Customer ID NO.
1
2. .........................................................
3. .........................................................
Date :
Branch
Dear Sir,
Please open a Current Deposit / Savings Bank / Recurring Deposit / UCO Lakshmi Yojana
account as per details below :
Initial of Authorised Official
Full Name (In Block Letters) ......................................................................................................................

Fathers/Husbands Name .........................................................................................................................
(1)
Residential Address & Telephone No. .....................................................................................................
........................................................................................................................................................................
Photo
Nationality .....................................................................................................................................................
Occupation ...................................................................................................................................................
Marital Status : Single/Married/Divorced/Widow(er)

(2)
........................................................................................................................................................................
Photo
Nationality .....................................................................................................................................................
Occupation
(3)
........................................................................................................................................................................
Photo
PAN of 1st applicant .....................................................

No.................................................
1. Passport
...........
No.................................................
2. Passport
...........
No.................................................
3. Passport
...........
Date of Birth
...................................................................
Nationality .....................................................................................................................................................
Occupation
PAN of 2nd Applicant .................................................
PAN of 3rd Applicant ................................
Issuing Authority .........................................................
Validity Period ............................................
Validity Period ............................................
Validity Period ............................................
In case of minor (Form DS1C is enclosed herewith).
For Recurring Deposit A/c : Monthly Instalment : Rs
For UCO Lakshmi Yojana A/c : Minimum instalment
Period Months
Maximum instalment
Pe
ri
od
months
The account should be operated Singly/Jointly/Either or Survivor/Former or Survivor/Any one or Survivor/On behalf of the minor by natural
guardian/guardian appointed by Court. Account may be closed or transferred by authorization signed Singly/Jointly/Either or Survivor/ Former or
Survivor/Any one or Survivor/On behalf of the minor by natural guardian/guardian appointed by Court.
Any modification of the Term & Conditions can be effected with the consent of all the depositors and the bank will not be entertaining any such individual
modification and that irrespective of the notice/knowledge of such modification the bank will continue to honour the instructions in accordance with the
mode of operation agreed to by the parties at the time of opening the account.
a)
c)
If and when cheques and other instruments are tendered by me/us for collection through this account, I/We agree that Bank will be held responsible for
loss & delay only if the same has been caused by negligence on their part and not otherwise.
I/We declare that the rules of Current Deposit/Savings Bank/Recurring Deposit/UCO Lakshmi Yojana Account of UCO Bank has been read by/to me/us
and I/we accept them as binding upon me/us.
I/We am/are not operating account with any other bank or branch of UCO Bank/operating account with Bank,
d)
Branch.
The above particulars are true to the best of my/our knowledge and belief.
b)
The specimen signature card is submitted herewith for your record. I/We do/do not request for a cheque-book containing leaves for my/our use.
Please issue a Pass-Book/note to send to me/us a statement of account every .
Signature of 1st Applicant
Signature of 2nd Applicant
Signature of 3rd Applicant
48
-2INTRODUCTION
A. Personal Introduction :
I certify that I know the above applicant/applicants personally for past months/years and confirm his/her/their occuptation/ occupations and
address/addresses as stated above.
Name of the Introducer
Address of the Introducer
A/c. No.
Date
Signature of the Introducer
B. Introduction by verification of Passport/Driving Licence/Voter Identity Card.

FOR ILLITERATE PERSONS ACCOUNT ( SB / RD / UCO Lakshmi Yojana )

Date
Branch
Illiterate persons identification

marks ...............................................
..........................................................
Dear Sir,
Sub : My Savings Bank/Recurring Deposit/UCO Lakshmi Yojana Account
The content of the Account Opening Form and the rules of the Bank regarding Savings Bank/ Recurring
Deposit/UCO Lakshmi Yojana Account in force for the time being has been explained to the depositor and fully
understood by him/her and he/she affixed his/her left/right thumb impression hereunder in my presence in token
thereof.
Left / Right thumb impression of the depositor
Signature
Signature of Authorized Official
Customers profile :
1. (a) Details of occupation
....................................................................... Office/business address .........................................................................
(b) Annual income ...................................................

2. (a) Details of occupation .......................................
(b) Annual income ...................................................
3. (a) Details of occupation .......................................
(b) Annual income ...................................................
(c)Residential status : Owned/rented/company provided. (d) vehicle owned : yes/no

Office/business address ........................................................................................................
Office/business address ........................................................................................................
NOMINATION
1. I/We nominate the following person to whom in the event of my/our/minors death the amount of deposit held in the above account may be returned by the
bank.
Name of nominee
Address of nominee
Relationship of
Present age
If nominee is a
nominee with
of nominee
minor, his/her
depositor
date of birth
Specimen Signature of nominee (optional) ..............................................................................................................................................................................

Identification mark of nominee (if illiterate) ..............................................................................................................................................................................
2. As the nominee is a minor on this date, I/we appoint Shri/Smt./Kumari ...................................................................................................................
............................................................................................................................................ (name, address and age) to receive the amount on behalf
of the nominee in the event of my/our/minors death during the minority of the nominee.
i)
.........................................................................................................................................
.........................................................................................................................................
ii) .........................................................................................................................................
.........................................................................................................................................
Name, signature and address of witness(es)
(2 witnesses to attest thumb-impression)
Signature / Thumb-impression of the depositor(s) Place

Date
For deposit in the name of a minor, the nomination should be signed by a person lawfully entitled to act on behalf of the minor.
FOR OFFICE USE

1.
For Recurring Deposit A/C : Date of Maturity
1 . Introducer called on the branch and

signed in Presence of
2 . Account may be opened
Date
Signature of Authorised Official
Maturity Value : Rs.
1) Letter of thanks sent to the A/c. holder(s) on & acknowledgement received on

......
2) Introducer did not call on the branch. Letter of thanks sent on & acknowledgement
received on
3) Photographs verified from : Passport/Driving Licence/Identity Card/PAN Card/Voters Identity Card/
Any Other (Specify) ......
4) Residential address verified from : Ration Card/Electricity Bill/Telephone Bill/Any other
(Specify)
Date :
MANUAL OF INSTRUCTIONS VOL. 4 (DEPOSITS)
PART-I
49
UCO BANK
Form No. 60
( See third proviso to of rule 114D )
Form of Declaration to be filed by a person who does not have either a permanent account number or General
Index Register number and who makes payment in cash in respect of transaction
specified in clauses (a) to (h) of rule 114D.
1
.
2
.
3
.
4
.
5
.
Full name and address of the declarant
. ....
.........................................................................................................................................................................
Particulars of
transaction ...........................................................................................................................
Amount of the
transaction ..........................................................................................................................
Y
e
s
/
N
Are you assessed to tax ...............................................................................................................
o
If yes,
(i) Details of Ward/Circle/Range where the last return of income was filed ?
(ii)
Reasons for not having permanent account number/ General Index Register Number ? 6. Details of the
document being produced in support of address column (1).
Verification :
I, do hereby declare that what is stated above is true
to the best of my knowledge and belief.
Verified today, the day of 20
Date
Place
Signature of the declarant
Instructions : Documents which can be produced in support of the address are :

(a) Ration Card
(b) Passport
(c) Driving licence
(d) Identity Card issued by any institution
(e) Copy of the electricity bill or telephone bill showing residential address.
(f) Any document on communication issued by any authority of Central Government, State
Government in showing residential address.

(g) Any other documentary evidence in support of the address given in the declaration.
50
ANNEXURE - II
Declaration Form for Current Accounts opened by

individuals
( This is an integral part of the Account Opening Form for
individuals opening current account )
To
UCO Bank
Branch
For Office use only

Current A/c. No.
(Signature of authorised Official)
Date
(a) For Current Account opened by a single individual :

The account will be operated upon by me and I authorise you to honour all cheques or other orders which may be
drawn by me on this account and to debit such cheques or orders or bills or notes to my account with you
whether such account be for the time being in credit or overdrawn.
Signature
(b) For Current Account opened jointly by two or more individuals :
We request and authorise you until any of us shall give you notice in writing to the contrary to honour all
cheques or other orders which may be drawn on our this joint account kept by us with you or bills accepted or
H
notes made on our behalf signed by of us and to debit such cheques or
orders or bills or notes to our account with you whether such account be for the time being in credit or
overdrawn. in the event of death, insolvency or withdrawal of any of us, the survivor or survivors of us shall
have full control of any moneys then and thereafter standing to our credit in our this account with you and it is
understood that all moneys now or hereafter standing to our credit in our account with you shall belong to the
survivor or survivors in the event of any of us dying during the currency of the account. It is further understood
that if any one of us forbids payment of an account (which is not payable to all of us jointly) the account if in
credit shall thereupon cease to carry interest and shall not to be payable except on the discharge of all of us or
survivor or survivors. We also request you to accept the endorsement of any one of us to cheques or other orders,
bills or notes payable to us.
We jointly and severally agree if our account or accounts at any time be overdrawn to be jointly and severally
liable to you for any moneys for the time being owing to you thereon including commission and interest.
We also jointly and severally agree that all moneys, securities or other movable property (whether ours joints or
that of any or either or us either jointly or severally) in or coming into your possession shall be and remain as
security and shall stand charges for the due payment of our joint indebtedness and liabilities to you from time to
time.
Names :
1.
2.
3.
Signatures :
Mention name of authorised operator
# Delete inapplicable paragraph

51
CURRENT DEPOSIT ACCOUNT RULES

1. Current Deposit Account can be opened by one or more individuals, proprietorship concern, Partnership Firm, Joint Stock
Company, HUF, Trust, Local Body, Society, Club, Government, Department/Corporate/ Undertaking or bank, approved
by the bank, subject to their agreement to comply with Banks rules and regulations.
2. Account will not be opened which is to be operated under a thumb impression, cross mark or signature by hand of another
person.
3. Account must be properly introduced to the Bank by someone already known and acceptable to the Bank.
4. Change in the address, telephone number and/or constitution should be immediately intimated to the Bank.
5. Minimum balance as prescribed by the Bank from time to time should be maintained to avoid penalty.
6. Cash and cheques should be deposited in the Bank at the specified counters only.
7. A) The customer should examine the Pass Book/Statement of Account and in case of any discrepancy, it should be brought
to the notice of the Bank within seven days from the date of receipt thereof. The Bank will not be responsible for
any loss arising from negligence of customers in this respect.
B) If the Pass Book/Statement of Account is lost and a duplicate therefor is sought, the depositor will have to apply for a
duplicate pass book/statement and pay charges as may be decided by the Bank from time to time.
8. Withdrawals are permitted only by cheques supplied by the bank. For a new cheque book, printed requisition from in the
cheque book must be used. A service charge, as may be decided by the Bank from time to time, will be valid for issuance
of new cheque book the cost and responsibility of the account holder. At the time of receiving the cheque book, if any
cheque is missing therein. The cheque book must be kept in secured possession of the account holder. Any loss must be
brought to the notice of the Bank forthwith.
9. Cheques should be crossed before being deposited for collection. Cheques returned unpaid will attract service charges plus
interest as applicable.
10. Cheques should be drawn against clear funds in the account. Cheques should not be drawn in anticipation of funds to be
credited to the account. Also, cheques issued and dishonoured due to account holders fault such as insufficiency of
funds/cheques drawn irregularly etc. will attract, part from service charge levied by the Bank, penal provision under the
Negotiable Instrument Act.
11. Mutilated, stale, post dated and irregularly drawn cheques, as also cheques containing extraneous matter, are liable to be
dishonoured. any alteration is to be authenticated by drawer.
12. The collection of outstation cheques will be made at Service charge rates fixed by the bank from time to time.
13. Folio charges as prescribed by the Bank and out of pocket expenses namely postage etc. incurred in connection with
handling the account will be debited to the account.
14. The Bank reserves the right to send unpaid cheques, discharged bills, advice, letters etc. to account holders by post and
the evidence of their so despatched as contained in the Banks records will be conclusive and binding upon the account
holders concerned.
15. Interest will not be paid in current accounts.
16. The Bank reserves the right to close any account after notifying the account holder and the Banks decision in such
matters will be final.
17. The Bank reserves the right to modify/change these rules and such alterations and additions communicated by putting up
a notice in Branch Premises, shall be binding on the account holder.
_____ H H H _____
52
CHAPTER - II
SAVI
NGS
BANK
DEPO
SITS
1 . GENERAL :
1.1 Savings
is
intended
for
Savings for the

future.
However,
depositors may
not be sure of
how much they
can save every
month.
They
may
also
withdraw
amounts
according to
requirements
and they are
willing
to
accept
reasonable
restrictions on
the
Account
and number of
withdrawals.
Savings Bank
Accounts
are
suitable
for
such
persons
as
salaried
persons,
students,
children
and
retired persons
and
professionals.
1.2 The
advantages of
a
Savings
Bank account
are :
a) It helps
inculcati
ng the
habit of
Savings
and
thrift
among
people.
b) It
facilitate
s
making
payment
s
by
cheques
c) Immedia
te Credit
of
outstatio
n
cheques
upto a
certain
amount
is made.
d) It
fetches
reasonab
le
interest
e) Pass
Book
serves as
a record
of
earnings
and
expendit
ure
f) Custome
rs
can
avail the
facility
of
standing
instructi
ons
g) Nominat
ion
system
ensures
social
security.
2 . Introduction
of Accounts :
2.1 All
savings
Bank accounts
are
to
be
properly
introduced by
some
person
known to the
bank.
The
branches
are
requested
to
make
their
own enquiries
about
the
existence
the
of
account
holder,
his
integrity
and
respectability
before
open
they
an
account in his
name
and
consider
extending any
facility
of
collection and
of discount of
cheques.
Introduction
does
not
simply
mean
obtaining
signature of a
third
person
known to it as
introducer
the
on
Account
Opening Form.
2.2 Reserve Bank
of India has
also
directed
that
Bank
should
invariably
insist
upon
prospective
depositors
to
furnish
introduction
for
opening
Savings Bank
Accounts.
2.3 All precautions
and guidelines
pertaining
to
Introduction,
as
mentioned
in clause no. 3
of
Chapter-I
(Current
Account)
and
Due Diligence
as
under
required
Know
Your
Customer
(KYC)
guidelines
should also be
followed
meticulously.
3 . Photograph :
3.1 For
all
operative
accounts such
as
Savings
Bank Accounts
opened on or
after January
1,
1994 branches
should
obtain
photographs at
the
time
of
opening of the
accounts of the
depositors/acc
ount
holders
who
are
authorised
operate
to
the
accounts.
These
photographs
should
be
affixed
on
account
opening form.
Cost of such
photograph
MANUAL OF
INSTRUCTIONS VOL.
4 (DEPOSITS) PART-I
53
UCO BANK
should be borne by the customers. Operative deposit accounts would mean all deposit accounts, which
can be operated upon by cheques or withdrawal slips. Authorised operators would mean all those
persons who are authorised to operate the account as per declaration made at the time of opening of the
account or as per declaration subsequently made by the account holders in modification of their earlier
instruction. Where joint accounts are opened on Either or Survivor, Former or Survivor or any one or
any two or by all jointly etc. basis, photographs should be obtained for all of them. In case of accounts
operated by power of attorney holders, photographs should be obtained for both the account holder and
power of attorney holder. For accounts in the name of minors, photographs of the guardian operating
the account should be obtained. For accounts in the name of staff members, the above requirement
may be waived at the discretion of the Branch Manager. However, in case of Joint Account, of staff
maintained with a person who is not member of the staff, photographs should be obtained for those
who are not staff members.
4 . Who can open Savings Bank Account :

4.1 A Savings Bank Account be opened
a) By individual in his/her own name
b) More than one individual jointly
c) A guardian on behalf of Minor
d) By a minor who has attained the age of 10 years and is literate.
4.2 A Savings Bank Account can be opened in the name of illiterate person to be operated by his/her
thumb impression.
4.3 A Blind Person
4.4 Clubs, associations/registered or unregistered/charitable and religious institutions, trust, local bodies,
primary co-operative societies and such other bodies of identical nature.
4.5 A HUF provided it is not a business concern.
4.6 It may be noted that a Savings Bank Account cannot be opened in the name of a trading
or business concern, whether such concern is a proprietory or a partnership firm, a company or an
association or a HUF.
4.7 No Savings account to be opened in case of
a) Government department and Bodies, that depend upon budgetary allocation for performance of
their function.
b) Municipal corporation or Municipal committees
54
UCO BANK
c) Panchayat Samities
d) State Housing Boards
e) Water and Sewarage/Drainage Board
f) State Trust Books Publishing Corporation
g) Societies
h) Metropolitan Development Authority
i)
State/District Level Housing Co-operative Societies
j)
Any trading or business concern
k) Any professional concern (e.g. firms of Chartered Accountants, Lawyers etc.)

l)
Political Parties
4.8 But there are exception to above and the following bodies/authorities/agencies may open Savings Bank
Accounts.
a) Primary Co-operative Credit Society which is being financed by the Bank.
b) Small Farmers Development Agency (SFDA)
c) Fish Farmers Development Agency (FFDA)
d) Margin Farmers & Agricultural Labourers Agencies (MFAL)
e) Drought Prone Area Programme (DPAP)
f) District Development Agency (DDA)
g) District Rural Development Agency/Society/(DRDA/DRDS)
h) Integrated Rural Development Programme (IRDP)
i)
Development of Women & Children in Rural Area (DWCR)
j)
Self Help Group (SHG), registered or unregistered
k) Farmers Club/Vikas Volunteer Vahini (VVV), Informal groups of rural farmers or entrepreneurs.
l)
Integrated Tribal Development Agency (ITDA)
m) Agriculture Produce Market Committee (APMC)

n) Khadi & Village Industries Boards
o) Societies registered under Societies Registration Act, 1860.
p) Companies Licenced by Central Government under section 25 of Companies Act, 1956 and
permitted not to add Limited or Private Ltd.
q) Institution other than those in 4.7 and whose entire income is exempt from payment of Income
Tax under the Income Tax Act, 1961.
55
UCO BANK
r) Nagar Panchayats, Nagar Palikas and Municipal Bodies for placement of funds, given to them
by Government under Nehru Rozgar Yojna towards the component of
(i)
subsidy and (ii) training and infrastructure under schemes for Urban Micro Enterprises
(SUME) and Scheme for urban Wage Employment (SUWE).
s) The Zilla Parishad/Gram Panchayats can open Savings Bank accounts in respect of Jawahar
Rojgar Yojna funds scheme and for funds released for implementation of various rural
development/welfare programmes and/or Subsidy/Margin Money Linked Programmes
sponsored by the State Government/Government of India.
t)
Collector & District Magistrate/District Commissioners/DRDA may open SB account in respect

of funds released for implementation of Member of Parliament, Local Area Development
Scheme (MPLADS).
u) Government Department/Bodies/Agencies may be allowed to open Savings Bank Accounts in

respect of funds released through grants or as subsidies for implementation of various
developmental
programmes/schemes,
sponsored
by
Central
Government
and
State
Governments, on production of an authorisation to the Bank from the respective Government

Departments certifying that the concerned Government department or Body has been permitted
to open Savings Bank Account.
5 . Minimum Balance :
The Minimum amount to Open a Savings Bank account and the minimum balance to be maintained
therein is furnished hereunder :
Savings Bank Account :
With Cheque Book Facility other than Pension Accounts
Metropolitan
Urban
Individuals
1000
1000
500
250
Others
1500
1500
1000
250
Without Cheque
Individuals
Pension Accounts
Individuals
Pension Accounts
Individuals
Book Facility other than Pension

500
500
Semi-Urban
Rural
Accounts
250
100
100
100
50
50
(with Cheque Book Facility)

250
100
(without Cheque Book Facility)

50
50
56
UCO BANK
6 . Opening of Account :
6.1 The prospective account holder should be required to fill up and sign the Account
Opening Form in the presence of Officer concerned. He should also be supplied with a copy of
Savings Bank Account Rules.
6.2 In case of individual(s), intending to open SB Account Form DS-1A (Combined) is to be obtained.
6.3 In case of accounts of minors, declaration/proof of date of birth of the minor should be obtained. (For
detailed instructions please refer to Chapter-XV Accounts of Minors)
6.4 In case of account holder signing in vernacular, indemnity Letter (Form D-43) should be obtained.
The Vernacular Signature Indemnity Letter (D-43) should be obtained in Savings Bank accounts,
irrespective of the fact whether the account is operated upon by means of withdrawal forms or by
cheques.
The Vernacular Signature Indemnity Letter in respect of Joint Savings Bank Accounts must be signed
by all the joint account holders and not by the person(s) who are to operate on the account by signing
in vernacular.
As far as possible, the person witnessing the Vernacular Signature Indemnity Letter should be an
independent person known to the bank. If, however, such a person is not available the Manager may
put his signature as a witness after the contents of the Indemnity Letter have been explained to the
account holder.
Note : Vernacular Indemnity Letter (D-43) need not be insisted upon in cases where the accounts are
opened and operated on under signature in the regional language and it is possible to have
such signature verified by an authorised Officer at the branch.
6.5 In case account holder wants to avail of facility of collection of cheques, drafts etc., Indemnity/Letter
(Form B-40) should also be obtained.
6.6 In case of accounts of illiterate persons photographs of account holder must be obtained. (For detailed
instructions kindly refer to Chapter-XV Accounts of Illiterate persons)
6.7 The Officer concerned should ensure that Account Opening Form has been correctly and properly
filled in.
He should pay special attention to the following :
a) Name : The name of account holder should be written in Block letters as sometimes it is difficult
to read a name if it is written in running hand.
57
UCO BANK
b) The name of father/husband, age of prospective account holder. Full and detailed address and
occupation etc. should be filled in properly.
c) Instruction : In this column, the account holder should give instructions as to who would operate
the account. Such instructions become necessary only when the account is opened in the name
of two or more persons. In case of joint accounts instructions such as Jointly Either or
Survivor etc. should be obtained. Instructions should be authenticated by all joint account
holder. (For detailed instructions kindly refer Chapter No. XV on Accounts of Joint Persons).
d) The prospective account holder should also put his signature on the Specimen Signature Card.
e) If any column in the form is left blank, a small straight line in ink must be drawn in between the
blank lines so that there is no change of its being misused.
The Account Opening Form should be carefully scrutinised by the Officer concerned and if he is
satisfied that all the particulars are properly written, he should put his signature in full in the column
Signature Verified and signed in my presence.
b) The Account Opening Form should be referred to Manager/ Asst. Manager for his
permission to open the account. The Manager/Asst. Manager will authorise opening of the account by
putting his initial on the appropriate place of the Account Opening Form.
6.9 While opening Savings Bank account, the first deposit must be received in cash. For depositing the
initial amount, special pay-in-slip (Form DS-2) for Savings Bank Accounts should be used which as
usual should be entered in cash scroll and sent to Cash Department for obtaining cash from depositor.
6.10 On receiving the pay-in-slip after receipt of cash, the Savings Bank account should be opened after
making an entry in Account Opened and Closed Register. Care should be taken to see that pay-in-slip
contains Cash Received Stamp duty signed by Chief/ Head Cashier. Account number should also be
written in Account Opening Form.
6.11 In the ledger, the account should be opened serially and all necessary particulars such
as name of depositor, address, account number, instructions about operation of accounts particulars of
cheque book issued (if any) should be written on ledger folio. All the particulars should be checked
and initialled by Officer concerned who should also sign on the ledger folio.
6.12 Pass Book should be got prepared and checked and signed by Officer concerned
58
UCO BANK
who should ensure that it is complete in all respects. Thereafter it should be delivered to account
holder against his initials in Pass Book Register.
6.13 Nomination system to bank deposits is available under section 45ZA & 45ZB of Banking Laws
(Amendment) Act, 1983. Nomination format has been duly incorporated to the Account Opening
Form. Customers are to be encouraged to use this facility without fail (For detailed discussion, see the
chapter on Nomination of Accounts).
7 . Requirement of PAN/GIR Number for opening SB Account :

Any person(s) intending to open Savings Bank account shall have to furnish the Income Tax
permanent Account Number (PAN) or General Index Register (GIR) Number. In absence of the same,
the prospective account holder may furnish declaration in Form 60/ Form 61. The details of guidelines
in this regard has been mentioned in clause No. 6 of Chapter-I (Current Account).
8 . Know Your Customers :

As
per the recommendation of the BD Narang
Committee, branches
should
take
all
possible precautionary measures to establish
the customers identity
at the
of opening the account. The following points should be adhered to while opening the account.
time
a) The residential address of the prospective account holder must be verified from any of the following
documents :
Passport
Driving Licence
Identity Card, issued by any institution
Telephone Bill/Electricity Bill showing residential address
Any other documentary evidence in support of residential address.
b) The account should be properly introduced. A confirmatory letter may be obtained from the introducer,
in case he/she does not call at the Bank in person for the purpose of introduction.
c) Photograph of all the prospective account holders must be obtained.
d) The prospective account holder must furnish his/her permanent/mailing address, profession, service
particulars etc.
e) Large amount of remittances received or high value instruments deposited for collection should be
handled with extra vigil, especially in newly opened accounts.
59
UCO BANK
Features
Documents
Accounts of individuals
Legal name
used
(i) Passport (ii) PAN Card (iii) Voters Identity Card

(iv) Driving
licence (v) Identity Card (subject to the
an any other names
banks
satisfaction) (vi) Letter from a recognized
public authority or public servant verifying
the
identity and residence of the customer to the satisfaction
of bank.
Correct permanent address
(i) Telephone bill (ii) Bank account statement (iii) Letter

from any recognized public authority (iv) Electricity bill
(v) Ration Card (vi) Letter from employer (subject to
satisfaction of the bank)
(any one document which provides customer information
to the satisfaction of the bank will suffice)
For Rural branches in the absence of any of the above
documents, Ration Card/ Certificate from Local Body will
suffice for establishing identity and address of the
applicant.
Accounts of trusts & foundations

Names
of
trustees,
beneficiaries and signatories
names
and addresses
founder, the managers/
and the beneficiaries
Telephone/ fax numbers
(i) Certificate of registration, if registered (ii) Power of

Attorney
granted to transact business on its behalf (iii)
settlers,
Any officially valid document to identify the trustees,
settlers, beneficiaries and
those holding Power of
of the
Attorney,
founders/managers/directors
and
their
directors
addresses (iv) Resolution of the managing body of the
foundation/association (v) Telephone bill.
The bank has introduced five value added savings scheme namely, UCO Royal, UCO Elite, UCO Basic,
UCO Chhatra and UCO Retiree. While the first three schemes are based on the balance maintained in the
savings account, the last two schemes are meant for special types of customers, students and senior citizens
respectively. These accounts can be opened in select branches at present. The salient features of each of the
scheme are given in a summarized form below.
60
MANUAL OF INSTRUC
SAVINGS ACCOUNT PRODUCTS

Features offered
Basic
UCO Elite
Minimum Monthly Average Balance
1000
25,000
Rs. 25/- per

transaction
Rs. 100/- per

month
Number of cheque leaves

free in a calendar year=60
Thereafter, Only normal
chq. book at Rs. 2.25
per leaf
As applicable
upto 1 booklets free

per quarter, after that
Rs. 2.25 per leaf
(estimated as average of daily balance)
Charges on Non-Maintenance of
Monthly Minimum Balance
Transfer/ Clearing Charges
l Multicity personalised
chequebook
Outstation clearing
15% discount on share of

our commission, but actual
expenses viz. postage etc.
to be recovered
61
As applicable
15% discount
DD/TT/MR/RTGS
(apart from RBI charges)
Pay Orders
Normal Charges
Immediate Credit of Outstation
Upto Rs. 15,000
No charges only out of

pocket expenses Rs. 10
Upto Rs. 15,000 in 1st yr.
& Upto Rs. 25,000 after
1 yr of satisfactory
operation
50 transaction per quarter,
beyond that Rs. 6/- per
transaction
Cash/Clearing/Transfer
Transactions
15 transactions per quarter

free, beyond that Rs. 6/per transaction
Additional features
l
Standing Instructions
Stop Payment Charges
Yes
Rs. 10/- per transfer in
other customers account
in the same branch
Rs. 50/- per instrument
per occasion. Maximum
Rs. 150/-
Yes
Free transfer in the
same Branch
Free
UCO BANK
SAVINGS ACCOUNT PRODUCTS

Features
offered
Basic
UCO Elite
Charged of Rs. 28/per page or part thereof

Full Charges
Free-for last 1 yr.
Regular rate
Regular rate
Full Charges, depending

on the type of locker
15% waiver
Additional features (Contd)

l
Statement of Account if required
in addition to passbook
l
Loan Processing Charges on retail
50% discount
loans (Provided the account is

maintained in the same tier atleast
for a period of 1 year)
Interest on Retail loans(The waiver

will be available only during the
period when account is in Royal
tier and will be withdrawn
whenever it moves out of the tier)
Discount on locker
Privileged Services Cards providing
No
No
direct access to the department

heads and assuring priority and
immediate service instead of a
separate counter
Home Delivery of DDs
No
Home Delivery of Pass books/
No
Yes
(courier charges will be
recovered)
Yes
recovered)
Yes
Cheque
l
l
l
books
Consultation on Insurance/Mutual
fund (at customer premises)
by Banks specified officers
No
Accidental Death Insurance

Free Gift (cheque folder etc.)
No
No
62
Rs. 1,00,000
Yes
(upto Rs. 50/-)
UCO BANK
MANUAL OF
SAVINGS
ACCOUNT :
SPECIAL VARIANTS
UCO Chhatra
UCO Retiree
UCO INSTRUCTIONS VOL. 4 (DEPOSITS) PART-I
Minimum Balance
(Parent should have atleast a
Elite Account)
Rs. 1,000
Yes
Educational Loan
25 basis point
Waived
Demand Draft Charges

(provided the student has
availed education loan from
the bank)
Waived for all

exam/fee
related
drafts
Overdraft facility
(On guarantee of the parent
having the account)
upto
Rs. 5,000
Free Fund Transfer from

parents account to student
account
63
Minimum Balance
FD = Rs. 5,00,000 or Minimum
Average SB Bal = Rs. 1,00,000

Multicity personalised
Cash/Clearing/Transfer
chequebook
Transactions
2 booklet free per quarter, after

that Rs. 2.25 per leaf
Unlimited
Free
Personalised Cheque book
Yes, 1 Free
PO/DD/Outstation Clearing Charges
30% discount on share of our

commission but actual
expenses viz. postage to be
recovered
Standing Instructions Charges
Free transfer in the same

branch
Immediate Credit of Outstation

Cheques
upto Rs. 30,000

in 1st Yr. & upto s. 50,000 after
1 yr. of satisfactory operation
Locker Rent
30% Waiver
Privileged Services Card

(providing direct access of the
department head and assuring
priority and immediate service)
Yes
Statement of Accounts if required in

addition to pass book
Free for last 2 yrs.
Home Delivery/ Collection of

Instruments
Yes
recovered)
Charges for Non-maintenance of

minimum balance
Rs. 400/- per month
BANK
UCO BANK
9 . Deposit of Cash :
Deposit into Savings Bank account can be made by deposit of cash. The Pay-in-slip (DS-2) is to be
filled in correctly as to the name of the Account holder and account Number. There is no restrictions in
accepting number of deposits in a month or in a day. However, making deposit more than once in a
day must be backed by justified reasons. There is also no restriction in the quantum of deposit per
occasion, but the amount to be deposited should not have any fraction of a rupee.
1 0 . Collection/Clearing of Instruments :
No cheques, drafts etc. can be accepted for collection if the account is not introduced.
10.1 However, where account has been properly introduced, cheques, demand draft and dividend warrant
can be accepted for collection. Even in such cases, only those cheques, demand drafts and dividend
warrant should be collected as are made out or drawn in favour of the account holder and not endorsed
to him i.e. cheques and other instruments drawn in favour of third parties are not to be credited to
Savings Bank accounts.
10.2 All cheques, drafts and other valuable instruments sent by a Savings Bank account holder by post
must be transmitted only by means of Registered post failing which the Bank will be absolved of all
liability arising from any fraud in respect of such instruments being lost or stolen in transit.
10.3 For deposit of cheques, draft, dividend warrants etc., savings bank account deposit pay-in-slip (DS2) should be used.
1 1 . Withdrawals :
11.1 Amount may be withdrawn from Savings Bank Account by
a) Cheques
b) Withdrawal slip (DS-3)
11.2 There should be no bar against allowing operations by use of withdrawal slip in a cheque operated
Savings Bank account withdrawal slip is allowed subject to
a) The withdrawal slip being accompanied by the relative pass book
b) Withdrawal slips are presented for payment by the depositor himself/herself.
11.3 In Savings Bank Accounts there are following restriction on withdrawal of money
a) The total no of withdrawals during half-year whether by cheque or otherwise should not exceed
50. In case, it exceeds the service charge as due must be recovered.
b) Use of withdrawal slip in SB Account is permitted without any limitation on the
64
UCO BANK
amount of such a withdrawal slip provided the withdrawal slip is accompanied by the relative
pass book and is presented by the concerned depositor himself. There is no restriction on
amount of withdrawals in cheque operated accounts.
11.4 Withdrawals in Savings Bank accounts whether by cheque or withdrawal slip can only be permitted
against sufficient balance and in no case against cheques etc. in course of collection.
11.5 In making the withdrawal, whether by cheque or withdrawal slip, an account holder must see that no
withdrawal is made for a sum less than Rs. 5/-.
11.6 Every withdrawal slip/cheque should bear the number of the account. In case of cheques, at the time
of issuing of cheque book, account number should be written by branch on each cheque leaf under the
initial of Officer concerned.
11.7 No withdrawal by withdrawal slip is permissible unless the relative passbook is presented
simultaneously with the withdrawal slip.
However, there may be unusual circumstances when our insistence upon the production of passbook
would seriously inconvenience a valued account holder. Discretion has
been given to Manager to allow withdrawal without pass book. Such discretion is to be used very
sparingly and only under such circumstances as would otherwise cause great hardships to the depositor
and where the depositor is personally known to the Manager.
The procedure to be followed for permitting such withdrawals is as hereunder :
a) A special withdrawal form (DS-3A) should be used by depositor. In case of joint accounts, this form,
must be signed by all persons, as stipulated in the Account Opening Form.
b) A Register, as per specimen given below, should be maintained to record all cases of issuing
withdrawal slip in Form DS-3A.
Date of
issue
Name of A/c
holder
(1)
(2)
Amount
(3)
Initial of
Manager/
Asst. Manager
A/c holders
signature in
acknowledgement
of the receipt of
withdrawal slip
Date of
posting in
pass book
Manager/
Asst. Manger
(4)
(5)
(6)
(7)
c) The register should be under the frequent scrutiny of the Manager in order to ensure that there is no
unusual delay on the part of the account holder in presenting the pass book to be written upto date and
in cases, where necessary, the matter should be followed up with the account holder so that column 6
of the register does not remain blank for long.
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UCO BANK
d) Withdrawal by withdrawal slip (DS-3A) should be permitted under the above conditions only to the
account holder himself. In other words the account holder must call personally for withdrawing from
his Savings Bank Account by means of withdrawal slip in Form (DS-3A).
e) Where an account holder fails to produce his pass book after being allowed to withdraw from his
account by means of withdrawal slip (DS-3A), no further withdrawal by another such withdrawal slip
should be permitted until unless the relative pass book is produced for entry.
f) Whenever a withdrawal is permitted against a withdrawal slip in Form (DS-3A) a note
should be made against the corresponding entry in the ledger, Not entered in the pass book.
1 1 . 8 Principles and precautions for payment through withdrawal slip :

a) It is to be noted that Withdrawal slip is not a Negotiable Instrument. Thus, the provision of NI
Act, 1881 will not be applicable to withdrawal slip. It is an internal instrument of the Bank
containing authority of depositor to withdraw money from the account and it is devised for
convenience in operation in Savings Bank account.
b) Normally, a withdrawal slip should be presented along with the relative pass book by the
depositor himself/herself or one of the depositors in case of joint accounts and by the authorised
operator in case of accounts of club/society etc.
c) In the exceptional circumstances, payment can be made, at the sole discretion of the branch, to
the bearer of the withdrawal slip, provided that
The withdrawal slip is presented along with the relative pass book
The branch is satisfied about the genuineness of the reason for the depositor/ authorised
operator not being in a position to come to branch for doing the transaction.
The bearer is well known to the branch
The amount to be withdrawn through bearer of the withdrawal slip does not exceed Rs.
5000/- only.
Permission to pay to bearer of the withdrawal slip shall be granted by the Manager/Asst.
Manager/Officer-in-charge of Deposit department.
d) Normally a withdrawal slip has to be pesented at the branch for payment on the same date on
which it is drawn. Under exceptional circumstances, where the
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UCO BANK
withdrawal slip is presented through a Bearer (as provide in point no. c above), the branch at
its sole discretion may make payment against a withdrawal slip within a maximum of two
working days, following the date on which it is drawn, provided that
The branch is satisfied that the depositor is not in a position to draw a fresh withdrawal
slip on the day of presentation.
That no payment against the ante-dated withdrawal slip would put the depositor or his
family into great inconvenience.
That all the terms and conditions of point no. c above are satisfied.
e) Primarily, the withdrawal slip is used for withdrawing cash from a savings bank account.
However, a withdrawal slip can also be used as a debit authority for internal transfer of fund
from one account to another or for the purpose of remittances within the same branch. In such
cases, the depositor has to specifically mention the way of disposal of fund on the reverse of
withdrawal slip or on a separate piece of paper attached to the withdrawal slip.
f) No withdrawal slip of any other branch should be accepted for the purpose of clearing,
collection or purchase. This restrictions would be equally applicable to the withdrawal slips,
drawn by staff members on their account.
1
1 . 9 Operation of Savings Bank account by old/ sick/ incapacitated customers :

a) The following types of customers are coming under this category
An account holder who is too ill, to sign a cheque/withdrawal slip, to be physically

present in the bank to withdraw money from the account, but he/she is able to put his/her
thumb impression on the cheques/withdrawal slip.
An account holder who is not only unable to be physically present in the bank but also not
even able to put his/her thumb impression on the cheque/ withdrawal slip due to certain
physical defects/incapacity.
NB : Old/sick/incapacitated customers do not include the persons those are

mentally incapacitated i.e. neither they know what transaction they are to
make nor what amount they would withdraw. Persons of unsound mind
and in Comatose stage are not covered under this category.
b)
With a view to enabling the old/sick/incapacitated account holders to operate

their bank accounts, branches may follow the undernoted procedure.
i)
Wherever thumb or toe impression of such customers is obtained on the

cheque/withdrawal slip, the same should be identified by two independent
witnesses, known to the bank, one of whom should be an Officer of the branch.
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UCO BANK
ii) Whenever the customer cannot even put his/her thumb impression, toe impression may be
taken in lieu of thumb impression.
iii) The customer should also be asked to indicate to the bank as to who would withdraw the
amount from the bank on his/her behalf and he should provide a letter of authorisation in
that regard, which should also be witnessed by two independent witnesses one of whom
should be an officer of the branch.
iv) Such authorised representative shall have to put his signature on the reverse of cheque/
withdrawal slip in token of having received the amount with the undernoted
acknowledgement.
Received a sum of Rupees Under authority and on behalf of
Shri/Smt. (depositor).
An alongee may be attached to the cheque or withdrawal slip to record the above
acknowledgement in case the space provide for on the reverse is found insufficient for the
purpose.
v) Any medical certificate received/submitted in this connection will be additional evidence
but not a substitute to the procedure, detailed above.
1 2 . Undesirable Account :
If in a Savings Bank account, there are frequent return of cheques due to want of funds, the account
may be treated as undesirable account. In such cases, branches may close down such accounts after
giving due notice and sufficient scope to the depositor to improve upon.
1 3 . Overdraft in SB Accounts :
Clean temporary overdrafts can be permitted in Savings Bank accounts of customers, at the Managers
discretion up to a maximum of Rs. 2500/- in cases of contingency like payment of LICI premium, fees
to educational institutions, electricity bills, income tax, telephone bills etc. Overdraft can be allowed a
maximum of 5 times in a year in one account. Overdrafts are repayable within a month. The maximum
no. of SB overdrafts accounts per branch outstanding at any time has been fixed as under :
1)
Small rural branch
2)
Small non rural branch
10
3)
Medium branch
20
4)
Large branch
30
5)
Very Large branch
50
6)
Exceptionally Large branch
75
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UCO BANK
1 4 . Standing Instructions :
14.1 Standing Instructions should be accepted even on non-cheque operated Savings Bank accounts,
especially for payments like insurance premia, taxes, rentals etc. (For detailed instructions kindly refer
to Chapter No. XIV Standing Instructions.
14.2 Intimation of compliance of standing instructions should be sent to customers immediately. Also,
whenever a standing instruction is not carried out for any reason, the account holder should be
informed at once. Failure to carry out standing instructions correctly and in time can cause
considerable inconvenience, irritation and damage to customers, and it affects the banks image
adversely.
1 5 . Interest :
15.1 Rate : Interest on Savings Bank Accounts should be allowed as per directive of Reserve Bank of
India. The interest rate as applicable from 01.03.2000 is 3.5% per annum.
15.2 Basis of Payment : Interest should be allowed on minimum monthly balance between the close of
10th day and the end of each calendar month.
15.3 Interest is to be paid up to June and December each year and the credit to respective SB accounts
should be made by 10th July and 10th January respectively.
15.4 Cases in which interest is not allowed :
Interest should not be paid in Savings Bank A/c.
a) If the account is opened and closed within 3 months.
b) If eligible interest is less than Re.1/- per half year.
1 6 . Pass Book :
16.1 Pass Book should be issued free of charge when the account is opened. Branches are advised to
invariably offer (i) pass book facility to all its savings bank account holders (individuals) and (ii) in
case the branches offer the facility of sending statement of account and the customer chooses to get
statement of account, the branches must issue monthly statement of accounts.
16.2 Branch should maintain a Pass Book Register (Form D-45) for recording incoming and outgoing
pass books.
16.3 Whenever a customer deposits his pass book for being written up, branch should make an entry in
Pass Book Register and issue a receipt (paper token) as per specimen given below :
Receipt for Pass Book :
a) Name No. of Account ....................................................
b) Date of receipt of pass book .......................................
c) Date on which the pass book can be collected by the depositor ....................................
Initials of Clerk
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UCO BANK
The receipt should advise the customer the date when he will come to the bank and collect the pass
book. The receipt form is to be prepared in duplicate, one copy to be handed over to the customer
concerned and the other copy to be held in the pass book so that the branch makes a careful note that
the pass book is to be positively delivered on a particular date duly made up.
Note : When a Pass book is deposited along with withdrawal slip and when only a couple of entries
are to be made in pass book, the pass book should be completed immediately and not
withheld unnecessarily for complying with the formality of issue of the receipt.
16.4 While writing the pass books, the following points should be noted :
a) Pass Books should be written regularly. The work should not be allowed to fall in arrears.
Whenever the work of ledger is not much and the ledger keeper has some time to spare, he may
devote his time in writing pass books.
b) Pass Books should be written accurately, legibly and neatly, Brief and intelligible particulars of
transactions must be recorded therein.
Narrations like To Cash, To Clg, To Trf, By Trf, should not be used. Instead To
(name of the payee mentioned on the cheque), To trf FDR, RD, SB a/c
no. (as the case may be), By 1st clg, By main clg, By trf FDR No. , By trf
RD no. , should be used.
c) Care should be taken to see that no entry is omitted.
d) Pass Book should be ended with closing debit and credit summations and a closing balance.
Every page of pass book should contain debit and credit summations and a balance. The closing
debit and credit summations and summations at the end of each page should be done
independently and verified with closing balance and tallied with summations in ledger. This will
prevent possible omission of any entry through oversight or error in copying the entries.
16.5 The ledger keeper should affix in ledger folio a rubber stamp, Pass Book made up to date on
Against the last entry upto which the pass book has been written and initial it. Pass
Book, duly completed should be immediately returned. In occasional cases when it is not possible a
simple receipt token as paper token containing the time of delivery of pass book should be given to the
customer.
16.6 The pass books should be initialled by the clerk concerned in token of his having correctly copied the
entries from the ledger.
Note : Manager/Asst. Manager should ensure that the pass books are in fact initialled by the ledger
keepers before these are delivered to the account holders. For this
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UCO BANK
purpose, a test check of some of the pass books may be made on random basis from time to
time by Officer concerned/Asst. Manager/Manager or by other Officer authorised to do so.
16.7 The pass book should thereafter be entered in Pass Book Register and delivered to customer in
person or sent to despatch against his initials in Register.
16.8 Loss of Pass Book : The customer should give a notice in writing to the bank at once if the pass
book is lost, misplaced or stolen. Bank may refuse to permit withdrawals
until satisfactory evidence is produced of the loss or theft of the pass book and/or of the identity of the
account holder and his right to receive the balance in the account.
16.9 Duplicate Pass Book : The customer should make a written request for issue of duplicate pass book.
The signature of the account holder o the letter should be verified
by Officer concerned. If necessary, Officer concerned may ask the account holder to produce
satisfactory evidence or to give indemnity for the lost or spoiled pass book. Considerable care should
be taken in issuing duplicate pass books, which should not be issued on mere asking.
On being satisfied about the identity of account holder, duplicate pass book should be got prepared and
issued to him after entering it in Pass Book Register and against his acknowledgement. Duplicate Pass
Book should be prepared starting with the balance made up of the principal and interest last applied.
In order to distinguish the duplicate pass book from the original one which is lost, the word
Duplicate should be written in bold letters or stamped, on the duplicate pass book under initials of
Officer concerned.
A charge as decided by the Bank from time to time should be recovered for issuing duplicate pass
book.
1 7 . Transfer of Account :
17.1 Savings Bank account can be transferred from one branch to another branch regardless of amount at the
request of the account holder(s). Transfer of such accounts should be made free of charge.
17.2 Instructions of a customer for transfer of his account to another branch must be carried out
immediately on receipt of and in accordance with, the instructions. It must be ensured that along with
the balance of the account the relative Account Opening Form (new) is sent to the transferee banch and
a copy of the letter is also simultaneously sent to him both at his last and new addresses. Failure to
carry out the work relating to transfer of an account promptly and in time causes great inconvenience
to account holder and affects banks image adversely.
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UCO BANK
17.3 Transferor Branch : The following procedure should be adopted by transferor branch :
a)
A written request should be obtained from the account
holder and
he should
be requested to supply the following

i)
A new Account Opening Form properly filled in for the files of the new branch
ii)
Pass Book of the account
iii) Unutilised cheque book (if any)

Note : The unused cheque book received from the account holder
the branch. A new cheque book should be issued to
should
be held
at
the account holder by
the branch to which the account is transferred.

b) Signature of the account holder on letter of request for transferring the account should be
c)
Officer concerned should see that particulars in new Account Opening Form
have been properly filled in. He should verify and authenticate the signatures of
account holder(s) on the Account Opening Form across a rubber stamp bearing
words Confirmed.
d) Interest accrued on the account should be calculated up to last month.
e) The following entries should be passed :
Debit
Savings Bank Account
Debit
Interest Paid sub-head Savings Bank Account
Credit
Head Office Account
f) In the folio in Savings Bank Ledger, the last entry should be made in the following form :

g)
The account should be summated and closed and summation noted in the
special folio reserved at the end of the ledger. The following rubber stamp should
be impressed at the end under the signatures of Officer and Ledger Keeper
concerned
Account closed by Transfer to ..
Branch on Unused Cheques Returned No. .. to
No.
Entered into Register Folio No.
Asst. Manager
Ledger Keeper
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UCO BANK
h) A note about transfer of account should be made under signature of Officer concerned in
i)
Account Opened and closed Register
ii) Account Opening Form

The Account Opening Form should be cancelled by drawing a red line across the face of the
form and writing in red ink in bold letters Account closed by transfer to
Branch under initials of officer concerned.
Such Account Opening Forms should be taken out and kept in a separate file.
i)
The pass book of the account should be made up to date and the last entry made in the following
form
Entries in the pass book should then be summated and closed. In order to avoid the pass book
being used again and as a precaution the words Account closed by transfer to
Branch, should be written or stamped in hold letters on the front
and inside covers.
j)
The unused cheque leaves should be entered in Broken Cheque Book Register. The officer
concerned should take out and destroy the requisition slip attached to the returned cheque book.
The right hand bottom corner space of cheque leaves
which is used for signature purposes should be clipped off with the scissors so that the cheque
leaves cannot be fradulently used even if they fail into undesirable hands. The unused cheque
leaves should be in the custody of the Deposit In-charge/Asst. Manager till the next inspection
after which they should be destroyed and a certificate to that effect appended in the Broken
Cheque Book Register, under the joint signatures of the Officers in whose presence the cheque
leaves are destroyed.
k) A credit advice in Form G-4 for the balance amount of account transferred and interest accrued
thereon should be prepared. The advice should contain the following particulars :
i)
ii) Address of account holder at the place which account is transferred

iii) Account Number
iv) Principal amount transferred
v) Interest accrued transferred
vi) Monthly products of interests accrued after last application of interest.
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UCO BANK
l)
On a separate sheet, the following particulars should be noted :

i)
Date when account was opened
ii) How it was conducted

iii) The average balance maintained in it
iv) Standing instructions of the account holder, if any, at record with the branch
v) Whether the account was properly introduced.
m) IBCN for the amount of balance of the account plus interest should be prepared and sent to
i)
Relative advice as mentioned in (k) above
ii) Relative note as mentioned in (l) above

iii) Account Opening Form
iv) Pass Book
17.4 Transferee Branch : On receiving the IBCN along with requisite documents, the undernoted
procedure should be followed by the transferee branch
a)
The documents received along with IBCN
should
be carefully scrutinised
by Officer concerned and account should be
opened
after obtaining authority
from Manager/Asst. Manager against his initials in the Account Opening Form.
Notes :
i)
Account Opening Form should not be accepted if attested by an Officer not holding a power of
attorney or in rank below that of an Asst. Manager.
ii) If the Account Opening Form duly attested has not been received from the
transferor branch the account should not be opened but the balance of the account transferred
should be held in Sundry Creditors Account (Interest should be credited to Interest paid sub
head Savings Bank Account). The account holder should be advised immediately by means of a
letter as per specimen given below, to send the Account Opening Form.
It gives us pleasure to advise that we have received a sum of Rs. from our
branch for opening and account with us in your name
OR
In compliance with your instructions our branch has transferred your Savings
Bank Account to us with a credit balance of Rs. which we are keeping in
our Sundry Creditors Account pending completion of the documentation record of the opening of the
account.
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UCO BANK
H
We
shall
thank you to
please return
to
us
duly
completed
and
signed
the
enclosed
Account
Opening
Form.
Kindly
also
let us have
H
the pass book

of the account
for
being
written up to
date and the
cheque book
to
be
exchanged for
a new one.
Please
note
that on receipt
of
the
Account
Opening
Form
from
you, we shall
send it to our
branch
from
where
your
account
been
transferred
for
has
v attention.
A Delete where
not necessary.
On receipt of
Account
Opening Form,
it should be sent
to the transferor
branch
for
verification
of
signature on it
of the account
holder.
The
unused cheque
book
of
the
transferor
branch
if
received
from
the party by the

transferee
branch
should
be sent back to
the former for
their
record.
Only on receipt
of
Account
Opening
Form
with signatures
of
account
holder
duly
verified
by
transferor
branch, account
should
be
opened in the
books
of
transferee
branch
by
reversing entry
in
Creditors
Account.
Sundry
b) The
following
entries
should be
passed :
Debit
Head Office Account
Credi
Savings Bank Account
Credit
Interest Paid Sub-head-Savings Bank Account
c) An entry
should be
made
in
Account
Opened
and
Closed
Register
and a new
serial
number
should be
given
to
the
account
which
should
also
be
noted
in
Account
Opening
Form
received
from
Transfero
r branch.
d) In
the
Savings
Bank
ledger,
the
account
should be
opened
with first
entry
as
follows
Account
transferre
d
from
Branch
All
the
other
necessary
particular
s such as
name and
address of
account
holder,
account
number,
standing
instructio
ns if any,
cheque
book
number
(if issued)
etc.
should
also
be
noted
which
should be
checked
and
initialled
by
Officer
concerne
d.
e) A
n
e
w
p
a
s
s
b
o
o
k
s
h
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u
l
d
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e
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s
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t
h
f
i
r
s
t
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r
a
s
f
o
l
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s
B
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a
m
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t
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r
a
n
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r
o
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B
r
a
n
c
MANUAL OF
INSTRUCTIONS
VOL. 4
(DEPOSITS)
PART-I
75
UCO BANK
f) In case the account is introduced, a new cheque book should be issued after completion of
necessary formalities.
g) The transferee branch should refer the standing instructions, if any, to the account holder and
obtain his/their confirmation before commencing to act upon them.
17.5 When a branch receives an enquiry from a customer regarding the receipt of his account on
transfer from another
by letter/telegram
branch,
it should take up the matter with the transferor branch
on branch
account, in case it has not received the balance of
the account and/or
other related papers even after a reasonable transit time.
1 8 . Teller Service :
1. The Teller services shall cover payment of cheques for Savings Bank Account holders and Current
Account holders (individuals) upto the limit specified from time to time. The Service would also
extend to acceptance of individual cash receipts from Savings Bank and Current Accounts
(individuals) upto a stipulated limit. Payment against withdrawal slips presented by Drawers
accompanied by Pass Books is also permitted Teller Service shall also include issuance (against
Cash/Transfer) of DDs for less than Rs. 10000/-with Teller/s signature on blank DD forms which are
duly pre-signed by an empowered Officer.
Who may avail of Teller Service :

2.
The Teller facility would be
open to all existing and prospective Savings Bank/Current
Account holders (individuals).

3.
The Teller Services would
be available only to those account holders who have
had satisfactory operational

record for more than 6 months including maintenance of
minimum balance as stipulated from time to time.
Procedures :
4. There is no need for the Teller to maintain duplicate ledger cards and specimen signature cards. He should
rely primarily on his knowledge and past experience, in passing and paying cheques/withdrawal slips.
5. Teller clerk will maintain Teller Payment/receipt registers in which all the cash payments made and cash
receipts will be entered. Vouchers of cash payments/receipts will be sent to the relative ledger keepers
for posting in ledgers at the branch during the day and acknowledgement obtained. The vouchers
would be released from the ledgers and the balances checked in the usual course by the officers after
verification of signatures on the cheques.
All vouchers handled by Teller shall be embossed with the Rubber stamp or Teller and
76
UCO BANK
bear the Tellers signature. There is no need for tokens to be issued and therefore no need to maintain
Token Books for the Teller. There is also no need to maintain a cash scroll at branches with Teller
Service.
6. (a) The Branch Manager can fix the amount initially deliverable to the Teller (in the morning) as per the
requirement. It may normally vary between Rs. 30,000/- to Rs. 50,000/(b) Teller shall be supplied with stop payment cards and lists of unsatisfactory accounts duly
updated regularly which should be referred to in making payments for exercising caution.
7.
For issuance of drafts against Cash/Transfer, the following procedure shall be followed :
(a) Cash, after receipt will be handled as usual by the Teller and entered in appropriate register.
(b) In-charge of draft issue business will hand over in the morning pre-signed blank drafts, each
superscribed with the legend Less than Rupees Ten thousand in adequate number to the Teller
against his (Tellers) signature in a register indicating individual number draft (say 000001 to
000020). In the evening, the Officer concerned will take back unused drafts against
acknowledgement with words Received back unused draft forms Nos. to
. He will also make sure that rest of the pre-signed blank DDs are now presented
by Drafts issued against Cash/ Transfer Draft Issue Vouchers.
(c) Teller will maintain Tellers Draft Issue register for recording drafts issued as well as a separate
DDR-1 Register.
Modalities of creation of Teller Posts :

8.
A branch may have one Teller if the Number of cash receipts an cash payments to be
handled at the Teller counter is at least 50 in aggregate on average. However, a second
Teller counter may be considered if the number of such vouchers per day on an average
exceeds 100. A Branch with a Teller shall also have an identified stand by to function as
Teller in the absence of Regular Teller (on leave or otherwise).
9.
The power to create Tellers post is vested with General Manager (Operations) who
will look into aspects of workload etc. before sanctioning the post, based on recommendations of Regional Manager.
14. The posting of regular Teller shall be done as per provisions of policy governing placement of Award
staff in posts carrying functional allowance as in force. In Branches where Category A Teller system
is in operation and if Teller Category B is introduced, the position of Category A will get
automatically abolished.
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UCO BANK
Non-Teller Functions of Teller :

11. Teller Clerk after tallying cash and handing over the cash to Chief Cashier/Head Cashier will attend to
various other works allotted to him by the Manager from time to time as per requirement of the branch
and also having regard to the volume of work handled by him during a day.
Other precautions & procedures :

12. The Current and SB Departments should immediately bring to the notice of the Deposit Manager/Head
of the Branch, any case of overdraft caused due to passing of any instrument under this facility, or
signature on any instrument paid in Teller counter being at variance with the specimen signature on
record, in order that necessary remedial action is taken quickly. In cases where the accounts are
overdrawn, overdraft is to be allowed in the accounts and immediately the Manager will write a letter
to the account holder for adjustment of the accounts. In case such written communications do not yield
recovery of the overdrawn amount within a reasonable period say 30 days, the branch should initiate
regular recovery proceedings.
13. Teller Clerks will be responsible to see that payment effected is in good faith and without negligence
and after proper verification of the instrument.
14. The Teller counter shall have cash cabin like enclosure.
15. A notice shall be displayed at the branch stating that cash payments up to Rs. 8000/-and cash receipts
upto Rs. 10000/- in SB A/cs (individual) shall be handled through Teller Counter.
16. If on review of the functioning of Teller system at a branch it is observed that most of the cash
payments and receipts as also issue of DDs which are eligible, and can reasonably be handled in the
Teller counter were not in fact handled through the Teller counter, General Manager (Operations) can
even order discontinuance of the Teller System and withdrawal of the relative allowance.
1 9 . Savings Bank Accounts of Staff Members :

19.1 While opening Savings Bank Accounts in the name of members an ex-members of staff either singly
or jointly with any number of his family or the widow of a person who was formerly a member of the
Banks staff, a declaration should be obtained from the depositor that the amount deposited and/or to
be deposited in the account is/will be owned by the depositor.
However, it is the duty of the Officer concerned/Asst. Manager/Manager to see that these concessions
are not misutilised by members of staff. It should be watched that
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UCO BANK
volume of turnover and operations in the account are not disproportionate to the status and salary of
employees concerned.
A close watch should maintained to this aspect that Savings Bank Account of staff are not being
operated very frequently and they are not being used for the purpose of certain extraneous transactions
not directly related to their income or personal needs.
19.2 Savings Bank Accounts of staff members may be exempted from the restrictions of number of
withdrawals in the account and also from the stipulation of maintenance of minimum balance in the
account.
19.3 The issue of cheque books to staff should also be rationalised and as far as possible,
operations of accounts by cheques should be allowed in those accounts only where the condition of
maintaining minimum balance is satisfied.
2 0 . Special Incentive to Staff members :

20.1 Interest of additional 1% p.a. shall be payable in respect of Savings Deposit and Term Deposits to
a) a member or a retired member of the Banks staff, either singly or jointly with any other member
or members of his/her family ; or
b) the spouse of a deceased member or a deceased retired member of the banks staff ; and
c) an Association or a fund, members of which are the members of the banks staff. Branches are
advised to make a careful note that
a) a retired member of banks staff means an employee retiring whether on super-annuation or
otherwise, but does not include an employee retired compulsorily or in consequence of
disciplinary action.
b) A declaration has to be obtained from the depositor concerned, that the monies deposited or
which may, from time to time, be deposited into such account shall be belonging to the depositor
as stated in clauses (a) to (c) above, to prevent possible misuse of this facility.
c) The name of the staff member/retired staff members should appear as the first name in the
sequence of names of the joint account holders.
Explanation of the word FAMILY

The word family shall mean and include the spouse of the member/retired member of the banks staff
and the children, parents, brothers, and sisters of the member/
79
UCO BANK
retired member who are dependent on him/her but shall not include legally separated spouse .
2 1 . Balance Confirmation :
21.1 It is desirable that after every half-year/ yearly closing in September and March and after all the
books of the branch have been balanced, Balance confirmation letters (Form D-24) are sent to all the
Savings Bank account holders who are allowed operation by cheques.
21.2 Balance Confirmation Letters may be sent though peon or by post under certificate of posting.
21.3 Every effort should be made to get back as many Balance Confirmation Letters as possible duly
signed by account holders. Balance Confirmation Letters should be kept in a separate file after
verifying thereon the signature of account holders.
2 2 . Transfer to Inoperative Account :

Savings Bank accounts which are not operated upon for two years should be treated as stale accounts
and transferred to Inoperative Balance Account (For detailed instructions. Operation for the purpose
means deposits and withdrawals made by the depositor in the account and excludes payments of
interest and deduction of some charges by the bank kindly refer Chapter No. XIV).
2 3 . Closing of Accounts :
23.1 A letter should be taken from the account holder requesting the bank to close his account. His
signature on the letter should be verified.
23.2 Interest on the account should be calculated as per rules and necessary credit given to account by
debiting to Interest paid (Savings Bank) Account.
23.3 If the account is being closed within one year from date of its opening, an incidental charge as per
extant rules is to be debited to the account.
23.4 The account holder should be asked to draw withdrawal slip/cheque for the balance amount in
account which should be paid in usual manner.
23.5 In case, cheque book has been issued, the account holder should be asked to return the unused cheque
leaves, which on receipt should be entered in Broken Cheque Book Register. It should be dealt with in
the manner as mentioned in paragraph 14.3(I).
23.6 The debit and credit summation should be noted down on the last ledger folio for purposes of
summation balancing.
23.7 The account should be thereafter closed and the following rubber stamp should be impressed at the
end under the signatures of Ledger Keeper and Officer concerned.
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UCO BANK
Account closed on
Unused Cheque Returned No. ....................................
To
No. ...........................................................................
Entered into Register Folio No. ..................................

Asst. Manager
Ledger Keeper
23.8 A note should be made in the Account Opened and Closed Register.
23.9 The pass book of the account should also be called and made upto date and closed
on order to avoid the pass book being used again, and as a protection, the words
Account Closed should be written or stamped in bold letters on the front and inside
covers of the Pass Book. The Pass Book may be returned to party if requested by him,
otherwise may be held in the old records of the branch.
23.10The Account Opening Form of the party should be cancelled by drawing red line across the face of
the form and writing in red ink in bold letters Account Closed. Such forms should, thereafter, be
separately held in a file.
2 4 . Transfer of Balances to new Ledger folio :

When in course of making entries of transactions, a particular ledger folio gets exhausted, the balance
needs to be carried over to a new folio. In such a situation, the following steps to be taken
a) Summation of debit entries and credit entries are to be made for the entire folio. The difference
of both the totals would tally with the resultant balance of the folio.
b) The name, address, occupation, special instructions (if any), details of cheque book in use,
special remarks on the last folio (if any) account number etc. are to be written at the appropriate
place of the new folio, where the balance, held in last folio needs to be transferred.
c) At the bottom last folio, the following words are to be mentioned, in bold letters and preferably
in red ink under the signature of officer concerned.
BALANCE CARRIED OVER TO NEW FOLIO
Signature of Officer :
Date :
d) In the new folio, where the balance was brought forward, the Officer concerned will put his
signature as at the appropriate place at right hand top corner of the folio with the date. he would
also confirm the balance brought forward from the old folio.
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UCO BANK
e)
The date of balance brought forward to new folio as would be mentioned on the date column of
new folio will be the same as that of the date of balance held in old folio.
2 5 . Balancing :
25.1 Savings Bank Ledgers should be balanced once in a month on the day as the
manager may direct.
25.2 Balances of all Savings Bank Accounts ledger-wise should be taken down and their
total should tally with respective balances as shown in Abstract Book. The total
balances of all ledgers should tally with General Ledger Figures.
25.4 No entries should be passed in adjustment of figures without the matter being brought before the
Manager. In other words, the vouchers for making adjustment in the process of balancing must be
jointly signed by the Officer-in-charge of the Department/ Asst. Manager and Manager of the branch.
For noting corrected balance after any discrepancy being surfaced, the corrected Balance (CB) is to be
signed jointly by the above officials.
25.5 The staff concerned, who has been allotted with the job of balancing should put his signature with
date at the final page of balance book for the particular book for the particular ledger, as having tallied
the total with that of the Abstract.
25.6 The Officer, who has been allotted with the duty of checking, should check the jotting
down of balances from the ledger and also the totalling. He should put his signature at the end of the
final balance as having checked the same.
2 6 . Yearly Closing :
To and By of Savings Bank Ledgers should be done at the time of yearly closing as on 31st March
every year.
2 7 . Special Instructions for Computerized branches :

Most of the branches of the bank are now computerized and operate on software packages supplied by
different vendors. The vendors have provided the branches with manual of instructions to work on the
packages and have also provided training to the branch staff on their operation. The branches are
advised to ensure that the parameters of various fields of operation are correctly set and that the same
are updated regularly, based on changes advised by H.O. from time to tie, through circulars.
Branches are advised to note, in particular, the following points in respect of deposit accounts.
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UCO BANK
1. Savings Accounts : Settings in respect of minimum balances to be maintained in various types of

accounts like Pension A/c, NRE A/c, No Frill A/c. etc. to be correctly made. In accounts where
cheque books are issued, whether operation by withdrawal slips are allowed is to be set in
parameter. Rate of interest to be charged for overdrawings and charges for services like issue of
cheque books, return of instruments and stop-payments instructions are to set correctly.
2.
Current Accounts/ Cash Credit Accounts : In addition tot he above,
the
interest
to be charged for allowing drawings against uncleared instruments
in
case of
current accounts and

limit/Drawing Powers
penal interest to be charged for drawing beyond sanctioned

in case of Cash Credit Accounts are to be set correctly.
2 8 . UCO NO-FRILLS SAVINGS BANK ACCOUNT

With a view to bringing large cross-section of the population into banking fold and for enabling them to avail
the various services of the Bank, our Bank has introduced the above scheme across all branches in the
country. The account opening form will be the same as the one used for opening a savings bank account.
The salient features of the scheme are as follows :
Initial Deposit for Opening the Account and Maintenance of Minimum Balance :
The account can be opened with a minimum initial deposit of Rs. 5/-. In case of cheque facility being availed
by the account holder, the minimum initial balance should be Rs. 250/-. In case of need, the balance in the
account may be allowed to go even below the minimum initial deposit and the account may continue even
with Zero balance.
Opening of Account under the scheme The scheme is introduced in all metro, urban, semi-urban and rural
categories of branches without making any differentiation with regard to amounts of initial deposit and
maintenance of minimum balance as prevailing at present for opening of Savings Bank Accounts.
Eligibility for Opening No-Frills Savings Bank Account :

The eligibility for opening No-frills Account will be the same as that for opening an ordinary Savings
Bank Account. Persons above the age 10 and below 18 years and are able to read and write may also open a
minor no-frills savings account in his own name or jointly with any other person.
Restriction of Number of Withdrawals/Debit Entries in No-Frills Account :

Upto 25 debit entries in a half-year are allowed free in those accounts. In case the debit entries exceed 25
during a half-year, charge will be levied @Rs.3/- per additional entry during a half-year.
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UCO BANK
Charges to be levied :
a) For accounts opened with initial deposits of Rs. 250/- for having Cheque Book facility, in case the
balance comes down below the initial deposit even upto zero balance, usual charge for nonmaintenance of initial deposit shall be levied.
b) For standing instructions no charge will be levied.
c) Collection of cheques and issuance of Demand Drafts/MTs are permitted in those accounts and normal
charges are to be levied for those services.
d) For accounts with cheque book facility, one cheque book of 20 leaves to be provided free of charge in
each year. Any additional requirement of cheques leaves during a year will attract a charge of Rs. 2/per cheque leaf.
e) No incidental and folio charges will be levied in these accounts.
f) All other charges for services as presently applicable for normal Savings Bank Account are to be
levied and recovered.
Compliance of KYC Guidelines :

In case, the person concerned who wants to open the account is not able to produce any of the specified
documents, required to be verified at the time of opening of account to establish the identity and address of
the customer, the account may be opened for those persons subject to compliance of the following :
a) Introduction from another account holder who has been subjected to full KYC procedure. The
introducers account with the Bank should be at least six month old and should show satisfactory
transactions. Photographs of the customer who proposes to open the account and also his address need
to be certified by the introducer.
or
b) Furnishing any other evidence as to the identity and address of the customer to the satisfaction of the
bank.
However, while opening such accounts the customer should be made aware that if at any point of time the
balance in all his/her accounts with the bank (taken together) exceeds Rs. 50,000/-the total credits in the
accounts exceed Rs. 1.00 lakh in a year, no further transaction will be permitted in the account until full KYC
procedure in regard to verification of identity and address of the customer through the documents as
specified are complied with.
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UCO BANK
Savings Bank Account Rules

1. Any person approved by the Bank may open a Savings Bank Account. He/she has to sign the relative Account
Opening Form in presence of authorised official of the Bank upon agreeing to comply with the rules governing
Savings Bank Accounts and providing satisfactory introduction.
2.
The Bank will not open an account which is to be

by the hand of another person.
operated under a
cross mark
3.
Two Passport size photographs (three, if the account is to be operated by thumb impression) are
required to be submitted by the depositors at the time of opening of a Savings Bank Account.
4.
Every depositor while opening a Savings Bank

Account shall be required
PAN/GIR No. on the Account Opening Form if the depositor is an Income Tax Assessee, or if not, to
give declaration on Form No. 60/61.
5.
Savings Bank Account can also be opened by a natural guardian i.e. father or mother or by a guardian
appointed by the Court on behalf of a minor. Guardian opening an Account in the name of minor
under his/her guardianship shall have to give a declaration that the funds withdrawn in the account
of the minor, from time to time, will be utilised for the benefit of the minor.
6.
The Bank reserves the right to verify the details given in the Account Opening Form through any
third party, if necessary.
7.
SB Accounts can not be opened by any trading or business concern, regardless of its constitution.
However, Clubs, Associations, Charitable Institutions etc. may open SB accounts subject to
verification of their rules and bye-laws copies of which are to be furnished to Bank before opening
such account.
8.
More than one SB Account cannot be opened by an individual singly without special consent of
the Bank. Joint accounts may be opened by two or more persons where more of operation must be
specified.
9.
Minors, having attained the age of 10 years and

able to read and
open account singly, but no cheque book will be issued against such account.
write, are
or signature
to furnish
allowed to
10. In case of minors account operated by the guardian, the right of the guardian to operate the account will cease
upon the minor attaining majority. Any balance in the account will be deemed to be the exclusive property of the
minor who has attained majority, and further withdrawals from the account will be allowed to the erstwhile
minor alone after completing procedural formalities.
11. Cash and cheque to be deposited in the Bank should be handed over to the respective counters and no individual
outside the respective counters have any authority to receive them.
12. The total number of withdrawals from the account whether by cheque or otherwise will not exceed 50 per half
year or such ceiling as may be decided by the Bank. For additional withdrawals, a service charge at the rate
decided by the Bank will be recovered from the account.
13. Cheque-book will be issued if the account is properly introduced. The SB Account holder will be given 60
cheque leaves free of cost in a year as per the present norms of the Bank and this is subject to change as may be
decided by the Bank. For additional cheque leaves, service charge as may be decided by the Bank, will be levied.
The customer may at the time of opening the account opt not to use cheque books.
MANUAL OF INSTRUCTIONS VOL. 4
(DEPOSITS) PART-I
85
UCO BANK
14. Account holder should carefully note that while issuing a cheque, he/she should ensure that sufficient balance is
maintained in the account. Issuing cheque in anticipation of funds to be credited to the account is not permitted.
Also, cheques issued and dishonoured due to account holders fault such as insufficiency of fund/cheques drawn
irregularly etc. will attract, apart from service charge, levied by the bank, penal provision under the law of the
land.
15. Mutilated, post dated, stale and irregularly drawn cheque as also cheques containing extraneous matter will be
refused payment. Any alteration on the cheques/withdrawal slip should be authenticated by the full signature of
the drawer.
16. When depositing cheques for credit to an account depositors are required to cross them before handling over the
same for collection. Cheques deposited in the account and returned unpaid will attract service charge at the rate
decided by the Bank plus interest as applicable.
17. Instruments such as Cheques, Demand Drafts and Dividend/Interest Warrants will be accepted for credit of an
account only when the account has been properly introduced and such instruments must be drawn in favour of
the account holder and not endorsed to him/her.
18. The customer has to maintain minimum balance in the account as may be prescribed by the Bank from time to
time. Failure to maintain such minimum balance in the account will attract penalty as may be levied by the Bank.
19. For accounts operated by thumb impression,, the depositor must personally visit the Bank along with the
passbook to withdraw money from the account.
20. If the passbook is lost and a duplicate thereof is sought, the depositor will have to pay the prescribed charges for
a duplicate passbook.
21. The passbook and the cheque book are very important documents. At the time of receiving the cheque book, the
account holder should count the cheques therein and draw the attention of the Bank if any cheque is missing
therein. The passbook and the cheque book must be kept in secured possession of the account holder. Any loss
must be brought to the notice of the Bank forthwith.
22. Bank will register instruction from the drawer of a cheque to stop payment of it but it cannot undertake any
responsibilities in case such instructions are overlooked.
23. If the account is closed within a year from the date of its opening, a prescribed charge will be levied.
24. Bank reserves the right to close any account with prior intimation if it is not operated satisfactorily. The Banks
decision is such matter will be final.
25. Nomination is accepted in favour of a single individual only.
26. The Bank reserves the right to alter or add to these rules and such alteration and additions shall be binding on the
account holders.
_____ H H H _____
86
CHAPTER - III
RECU
RRIN
G
DEPO
SITS
1 . GENERAL :
1.1 Recurring
Deposit
means
that term deposit

account where a
specified sum is
deposited
regularly in each
month
during
the entire tenure

of account, as
would be agreed
by
the
depositors at the
time of opening
of account. But
withdrawals
from
the
accounts are not

allowed
the
within
specified
tenure
of
account.
Upon
completion
the
the
of
specified
period.
the
account
holder
receives
back
the
principal
amount
interest.
and
1.2 Recurring
Deposit
Accounts
are
suitable
for
fixed
income
group
people
who
wish
save
to
fixed
portion of their
earning
every
month to meet
future
contingencies.
2 . Opening of
Account :
2.1 A
Recurring
Deposit Account
can be opened
a) by
individual
in his own
name
b) by more
than one
individual
in
their
joint
names
c) on behalf
of a minor
by
his
natural
guardian
or by a
guardian
appointed
by court.
d) In
the
name of
minor
singly
provided
he/she
attained
the age of
10 years
and can
read and
write.
e) In
the
name
of
clubs,
societies,
associatio
ns,
education
al
institution
s,
trusts,
firms,
partnershi
ps
provided
they
are
registered
and joint
companie
s.
2.2 A
Recurring
Deposit Account
can be opened
in the name of
an
person
illiterate
to
be
operated by his
thumb
impression.
2.3 A
Recurring
Deposit Account
cannot
be
opened :
a) by
a
minor in
his/her
own name
b) In
the
name of a
person,
whose
account is
to
be
operated
under
cross
mark
or
by
signature
by
the
hand
of
another
person.
2.4 A Recurring Deposit Account can be opened with minimum monthly

Rs. 50/- or any amount in excess of Rs. 50/- but may be in multiple of Rs.
restriction on maximum monthly instalment.
2.5 The period of deposit should be in multiple of 3 months, the minimum per
12 months and the maximum 120 months. In case of a minor, the account m
opened for a period (which may be more than 120 months, but in multiple
required for the minor to attain majority. The maturity value for each such
MANUAL OF
INSTRUCTIONS VOL. 4
(DEPOSITS) PART-I
87
UCO BANK
arrived at as per the maturity chart published by the Bank. A Recurring Deposit will mature for
payment on completion of the term and after one month from the last instalment (due & payable) is
paid.
2.6 All Recurring Deposit Account should be properly introduced. Proper identification and introduction
of depositors will act as check on opening benami or fictitious accounts. Introduction need not be
insisted upon if the person is already having a properly introduced account with the bank. In such
cases, the particulars of the earlier accounts are to be mentioned in the application under authentication
of the supervisor.
2.7 The prospective account holder other than individual(s) should be required to fill up and sign the
Account Opening Form (D 1 Revised) in the presence of officer concerned. He should also be supplied
with a copy of Recurring Deposit Account Rules. Individual(s) should fill up the form DS-1A
(combined) for the purpose.
In case of accounts in the name of minors, declaration/proof of date of birth of minor should be
obtained (For detailed instructions kindly refer to Chapter XV on Accounts of Minors).
In case of joint accounts, instructions regarding operation of account i.e. payable jointly or payable
to either or survivor, former or survivor etc. should be obtained (For detailed instructions, kindly refer
Chapter XV Account of Joint Persons).
In case of accounts of clubs, firms, associations, companies etc., branch should follow the same
procedure as is followed in case of opening of current accounts of such bodies by calling all the
relevant papers, documents etc. (For detailed instructions kindly refer to Chapter-I Current
Deposits).
Photographs of all prospective account holders to be obtained as per KYC Norms. In case of accounts
of Illiterate Persons, reference be made to detailed instructions given in Chapter-XVI Accounts of
Illiterate Persons).
2.8 At the time of opening the account, the depositor has to decide about the amount and number of
installments, the amount of instalment and period of deposit i.e. number of installments agreed upon at
the time of opening the account cannot be altered subsequently. The details of amount of instalment,
number of total installments to be deposited, rate of interest applicable and the maturity yield is
required to be filled in the Account Opening Form.
It is the duty of Officer concerned to ensure that all particulars have been properly and correctly filled
in the Account Opening Form. The rate of interest applicable and maturity yield is to be checked by
the Officer concerned and he must put his signature on the Account Opening Form itself in token of
having checked the same.
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UCO BANK
2.9 Permission of Asst. Manager/Manager should be obtained for opening the account by getting his
signature on Account Opening Form.
2.10 For depositing the amount of instalment, special pay-in-slips for Recurring Deposit (D-51) should be
used which as usual should be entered in cash scroll and sent to Cash
Department for obtaining cash from depositor. In case depositor pays first instalment by means of
cheque drawn on same branch, it should be sent to Deposit Department along with pay-in-slips after
entering in Transfer Scroll.
2.11 On receiving the pay-in-slip after receipt of cash/debt of account, the Recurring Deposit Account
should be opened in the ledger in the usual manner after making an entry in Account Opened and
Closed Register. Care should be taken to see that the pay-in-slip contains Cash Received Stamp duly
signed by Chief/Head Cashier or Account Debited Stamp duly signed by an authorised officer of
Deposit Department.
2.12 In the ledger, the account should be opened serially and all necessary particulars such as name of
depositor, address, account number, period of deposit, amount of money instalment, maturity yield etc.
should be written on ledger folio and checked and signed by Officer concerned.
If the number of Recurring Deposit Accounts at a branch is fairly large, different ledgers for different
periods of deposits may be used otherwise in the same ledger separate folios may be allocated for
different periods of deposits.
2.13 Pass Book
should be got prepared and checked and initialed by Officer concerned
who should ensure that it is complete in all respect. Thereafter, it should be delivered to
account holder against his initials in the Pass Book Issue Register.
2.14 Standing Instructions from the depositor for transfer of monthly installments from the Savings Bank
or Current Account maintained at the same branch may be accepted and such transfers should be
affected by the branch free of charge.
3 . Deposit of Instalments and Penal Charges

3.1 The account holder should pay the installments for any month on or before the last working day of that
month.
3.2 In case of late payment of installments, penalty should be charged by branch from the account holder
at Rs. 1.50 per 100/- per month for. Recurring Deposit of period not exceeding 60 months. For
Recurring Deposit for over 60 months duration, penalty @Rs.2/-per Rs. 100/- per month to be charged.
Penal charges so arrived at is to be rounded off to nearest rupee. The penal charges is to be realised at
the time of receipt of the defaulted installments.
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UCO BANK
3.3 No waiver of penalty even if advance instalments are deposited along with arrear instalments.
3.4 Procedure for realising the penal charges

a) When the Clerk in charge of Scrolling receives a RD pay-in-slip (D-51), he would send the same
immediately to RD Department/supervisor-in-charge of the department.
b) Clerk/supervisor in charge of RD Department will verify from the ledger as to whether there is
any default in deposit of instalment. If there is no default, the concerned supervisor will put his
initial at the right hand top corner of D-51 and will send it back to scroll section for usual action
thereon.
c) Where the scrolling is done in respective department, there is no need of referring the pay-inslip (D-51) rather it could be checked in the same department before scrolling.
d) In case, there are defaults in depositing installments, the supervisor concerned will calculate the
penal charges and will get the credit voucher prepared (Credit other
Receipt General Charges Recovered Account) for the amount. After signing the credit voucher
for penal charges. he will sign on the D-51 (at right hand top corner) and will send both the
voucher (D-51 and G-11) pinned together for scrolling. A suitable noting in red ink should be
made at the top of D-55 as under :
Penal charges of Rs.
So that, it will not escape the notice of receiving cashier even if the credit voucher is detached.
e) It is the responsibility of receiving cashier to receive the deposit installments and the penal
charges also.
f) With a view to plugging revenue leakage, the receiving cashier/Chief/Head Cashier should
ensure that D-51 bears the initials of supervisor-in-charge of RD Department before the receipt
of cash against a RD pay-in-slip.
4 . Transfer of Account from one Branch to another

4.1 Recurring Deposit Account can be transferred from one branch to another branch of the Bank. Transfer
of such accounts should be free of charge. Postage and handling charges however, may be recovered.
4.2
Instructions of a customer to transfer his account to another branch must be carried out immediately on
receipt of and in accordance with, the instructions. It must be ensured
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UCO BANK
that along with the balance of the account the relative account opening form is also simultaneously
sent to transferee branch. An advice should also be sent to the customer. Care should be taken to
ensure that the advice is sent to him both at his last and new addresses. Failure to carry out the work
relating to transfer of an account promptly and in entirely causes great inconvenience to account
holder and affects banks image adversely.
4.3 Transferor Branch : The following procedure should be adopted by transferor branch :
a) A written request should be obtained from the account holder and he should be requested to
supply the following :
A new Account Opening Form properly filled in being exact copy of original for the file of
new branch.
Pass Book of the account.
b) Signature of the account holder(s) on letter of request for transferring the account should be
c) Officer concerned should see that particulars in the new Account Opening Form have been
properly filed in and it is the exact copy of original Account Opening Form. He should verify
and authenticate the signature of account holder(s) on the Account Opening Form across a
rubber stamp bearing words Confirmed.
d) Interest accrued on the account should be calculated up to last month.
e) The following entries should be passed :
Debit
Recurring Deposit Account
Debit
Interest Paid Account-sub-head-Recurring Deposit Account
Credit
Head Office Account
f) In the Recurring Deposit ledger, the account should be closed with the narration Transferred to
branch and date of such transfer should be noted under signature of Officer concerned.
g) A note about transfer of account should be made under signature of Officer concerned in
Account Opened and Closed Register
Such Account Opening Form should be held in a separate file.
h) Pass Book Should be made up to date.
i)
A credit advice in Form G-4 for the balance of account transferred and interest
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UCO BANK
accrued thereon should be prepared. The advice should contain the following papers :
Address of Account holder at the place where the account is transferred.
Account Number
Account of monthly installments.
Total installments to be paid
Number of instalments already paid
Maturity yield
Principal amount transferred
Interest accrued transferred
j)
IBCN for the amount of balance of the account plus interest should be prepared and sent to
Relative advice as mentioned above
It should be ensured that it is the exact copy of the original Account Opening Form in the files of
transferor branch. It should be attested by an Officer mentioning his/her PFM No. In case it is
not possible to obtain new Account Opening Form, the original may be sent to transferee branch.
Pass Book
4.4 Transferee Branch : On receiving the IBCN along with requisite documents, the under-noted procedure
should be followed by the transferee branch :
a) The documents received along with IBCN should be carefully scrutinised by Officer concerned
and account should be opened after obtaining authority to do so by Manager/Asst. Manager
against his initials in the Account Opening Form.
Note : Account Opening Form should be accepted only when it is attested by Manager/ Asstt.
Manager of the branch.
b) The following entries should be passed :
Debit
Head Office Account
Credit
Recurring Deposit Account (For Principal amont)
Credit
Interest Payable Account sub-head Recurring Deposit (for amount

of interest accrued)
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UCO BANK
c) An entry should be made in the Account Opened and Closed Register and a new serial number
should be given to the account.
d) In the Recurring Deposit Ledger, the account should be opened noting on the Ledger Folio :
Account transferred from branch

The following particulars should also be noted
Name and address
Date of transfer
Number of installments received
Total number of installments agreed to be paid
Amount of each instalment
Account Number
Maturity yield.
e) On the top of the Pass Book on the inside page, a noting should be made Transferred from
branch on . On the outside cover also after scoring off the
name of the branch from which the account is transferred the name of branch to which the
account is transferred should be noted under the initials of an authorised Officer, as also the new
serial number.
When the depositor approaches the transferee branch
a)
In this case two letters of request addressed to the transferor branch through
the transferee branch along with the relevant pass book are to be taken from the
account holder.
b) One copy of the letter with the pass book should be forwarded to the transferor branch.
c) The transferor branch on receipt will adopt the steps shown in 4(I)
5 . Premature Payment :
5.1 A Recurring Deposit Account can be allowed to be closed by account holder before the expiry of the
stipulated period.
5.2 The account holder should make a request for premature payment in writing. In case of Joint Accounts,
it is essential that all the depositors would make joint request. Indian Banks Association, however, has
advised that in case of premature payment of a term deposit held in Joint names payable on either or
survivor, former or survivor or any one of the survivors basis, payment to either/former/the
latter/anyone or to the survivor(s)
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would be permissible and valid provided a clause allowing the bank to make such premature payment
is incorporated in the Account Opening form/application.
Our existing Account Opening Form does not contain any such
clause.
the undernoted paragraph may be handwritten/typed out on the
reverse
However,
of/on a
separate sheet and attached to wherever necessary.

In continuation of our application of date to you to open in our names a Recurring Deposit Account,
bearing Account No. at your branch, we hereby issued and record our consent,
request and authorisation that the Bank may, on receipt of a written application from Shri/Smt.
the former/letter/ the first / second named out of us or either
or survivor of us or anyone or survivors or survivor of us, in its absolute discretion and subject to such
terms and conditions as the Bank may stipulate and without reference to any of the other depositors
amongst us :
a) grant a loan/advance against the security of the RD Account held in our joint names .
b) Make premature payment of the deposit together with interest due, to the former/ the letter, the
first/second named of us/either or survivor of us/anyone of us or survivor of us etc.
1 .................................................. 2 ............................................... 3 ..........................................
(Signature of depositors)
5.3 The guidelines regarding premature withdrawal are as follows :
a) In the event of a premature withdrawal of a term deposit, the rate of interest payable will be one
percent less than the interest applicable for the period for which the deposit has remained with
the bank.
b) The operative rate of interest payable on such premature payment of Recurring Deposit is one
percent less than the applicable rate of interest for period the deposit has remained with the
Bank, calculated on a simple basis. The applicable rate of interest will be determined on the
rates prevailing on the date the account was closed.
c) Interest is to be paid for premature withdrawal of Recurring Deposit Account, provided the
deposit was with the Bank for atleast the minimum period prescribed for a term deposit by the
bank. However, interest on such deposit will be calculated on a simple basis and suitable service
charges may also be levied.
6 . Interest calculation in irregular/discontinued Recurring Deposit Account

6.1 Methodology for calculation of interest in irregular discontinued Recurring Deposit
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Accounts (whether paid before or after due date) is changed now in view of the tedious calculation
involved in certain method. A simpler method has been introduced where interest is calculated on
monthly products reckoned on minimum balance lying in the account between tenth and last day of the
month. This means that the methodology is similar to that applicable to Savings Bank Account except
that interest rate is dependent on the period for which the deposit has remained with the bank and
whether it is being withdrawn before the due date. Penalty as applicable is to be levied to the interest
rate applicable for the period for which the deposit has remained with the Bank. Where such
withdrawal is made after due date, interest would be calculated at the contracted rate up to the due date
in the similar manner.
The extant guidelines in respect of penalty to levied to the interest rate on premature withdrawal of
term deposits are as under :
For deposit amount of
Penalty
Less than Rs.15 lacs
No penalty
Rs.15 lacs & upto Rs.1 crore
1% p.a.
Above Rs.1 crore
Applicable card rate for non-incentive deposits for the

period of the deposit kept with the bank will be paid.
6 . 2 Illustration - I
A Recurring Deposit with an instalment of Rs. 1000 per month was opened on 21st April 2005 for 3
years. Monthly deposits were regularly deposited till March 2006. On 2nd January 2007, the depositor
requested for premature payment of the deposit with upto date interest.
Ledger Extract :
Date of Deposit
Instalment
Balance
21.04.2005
1000
1000
09.05.2005
1000
2000
20.06.2005
1000
3000
07.07.2005
1000
4000
04.09.2005
1000
5000
04.09.2005
1000
6000
03.10.2005
1000
7000
16.11.2005
1000
8000
24.12.2005
1000
9000
01.01.2006
10.02.2006
1000
1000
10000
11000
09.03.2006
1000
12000
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Repayment sought on 2nd January 2007.

Other Relevant Particulars are as follows :
Date of Opening the account
: 21.04.2005
Period of Deposit
: 36 months
Maturity Date
: 21.04.2008
Interest Payable
: 6.0%
Interest Rates as on 21st April 2005 was as follows :

Period from 1 year but less than 2 years
: 5.75%
Period from 2nd years but less than 3 years
: 5.75%
Period from 3 years but less than 5 years
: 6.00%
Calculation of Interest :
First we will work out the monthly Products reckoned on minimum monthly balance as on 10th and the last
day of the month :
Deposit Date
Balance
Month
Monthly Product
21.04.2005
1000
April 2005
09.05.2005
2000
May 2005
2000
20.06.2005
3000
June 2005
2000
07.07.2005
4000
July 2005
4000
04.09.2005
5000
August 2005
4000
04.09.2005
6000
September 2005
6000
03.10.2005
7000
October 2005
7000
16.11.2005
8000
November 2005
7000
24.12.2005
9000
December 2005
8000
01.01.2006
10000
January 2006
10000
10.02.2006
11000
February 2006
11000
09.03.2006
12000
March 2006
12000
April 2006 to
108000
From April 2006

no
deposits
onwards
made
Dec 2006
Total
(12000x9)
181000
Product
As the amount is less than Rs. 15 Lakhs, as per extant guidelines no penalty is applicable on the deposit.
Hence, the interest rate applicable will be that applicable for the actual period, the deposit remained with the
Bank, i.e. from 21st April 2005 till 1st January 2007 which is 20 completed months. Hence the rate
applicable for this period as on the date of opening of the account is the one applicable for 1 year and above
but less than 2 years which is 5.75%.
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Interest on 181000 @5.75% for 20 months will be
181000 x 5.75
12 x 100
Rs. 867.29 or Rs. 867 (rounding to the nearest rupee)
Situation-II
A recurring deposit account with an instalment of Rs.100/- p.m. on 07/10/2002 for 3 years. Monthly
instalment were regularly deposited upto March 2003 and subsequently the deposit continued. On
12/10/2005 the depositor appeared for withdrawal of the deposit.
Determination of rate of Interest

In this case, the due date of deposit is 07/10/2005 and the deposit has remained overdue till
12/10/2005. It is to be noted that it is not a premature withdrawal, but repayment of term deposit after
due date, hence interest shall be paid till the date of maturity i.e. up to 07/10/2005 at contracted rate.
Calculation of Interest
Monthly products reckoned on minimum balance between 10
Month
Instalments
October 2002
November 2002
December 2002
January 2003
February 2003
March 2003
April 2003 to September 2005
@ 600 X 30 : Total Product
100
100
300
300
400
500
18000
19700
th
and last day of the month are :
Interest on Rs. : 19700/- @ 10% per annum (contracted rate) for one month is :
19700 x 10
= Rs. 164.17p. = 164/-
12 x 100
Thus interest payable is Rs. 164

6.3 The receipt attached to the Pass Book at the last page should be completed and got discharged by the
depositor(s) on a revenue stamp. It should be noted that in case of premature payment, the Receipt
should be discharged by all the joint account holders even though instructions for payment may be
Either or Survivor but the declaration as mentioned in Pint No. 6.2 above has not been taken at the
time of opening of account from all depositors.
6.4 The other particulars relating to the account and date of payment should also be recorded in the
Receipt it should be detached from the pass book and along with letter for premature withdrawal with
the debit voucher, meant for making payment.
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6.5 The following vouchers should be passed while making payment.

Debit
Interest Paid (RD)
Credit
Respective RD Account
Debit
Respective RD Account (for the entire balance held including interest)
Credit
Cash / Partys Account
6.6 In case of cash payment, debit voucher should be sent to Cash Department after getting it entered in
Token Book as usual. In case of credit to account, credit voucher may be released for posting in ledger
after entry in Transfer Scroll.
6.7 The fact of payment having been made of the deposit amount should be properly endorsed in
Recurring Deposit Ledger and in the Pass Book just below the last entry with the following notation
under the signature of Officer concerned.
Paid before maturity on
6.8 Pass Book may be delivered to depositor after making bold handwriting in red ink on each page Paid
before maturity under the signature of Officer concerned.
6.9 An entry about closing of account should be made in Account Opened and Closed Register.
6.10 A note in red ink in bold letters reading Account Closed by Premature payment on should be made
on Account Opening Form under signature of Officer concerned. Such form should be removed to a
separate file.
7 . Payment on Maturity
7.1 A Recurring Deposit Account matures for payment on the date on which the account
completes the agreed period of deposit as calculated from the date of opening the Account or one
month after the final stipulated instalment has been paid, whichever is later.
7.2 The Receipt on the last page of pass book should be completed and got discharged by the depositor(s)
on the revenue stamp. In case of joint accounts with instructions payable jointly, all the depositors
must discharged the Receipt.
7.3 The other particulars relating to the account and date of payment should also be recorded in the
Receipt. It should be detached from pass book and stamped with debit voucher.
7.4 The signature of depositor(s) on Receipt should be carefully verified by Officer concerned.
7.5 An entry should be made suitably in Account Opened and Closed Register.
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7.6 The similar vouching should be done while making payment as mentioned earlier in case of premature
payment.
7.7 In case of cash payment, the debit voucher should be sent to Cash Department after getting in entered
in Token Book in the usual manner. In case of credit to account, the credit voucher may be released for
posting after entry in Transfer Scroll.
7.8 The fact of payment having been made of the deposit amount should be properly
endorsed in Recurring Deposit Ledger and on last page of the pass book just below the last entry with
the following notation under the signature of Officer concerned : Paid on
7.9 Pass Book may be delivered to depositor after marking in bold handwriting in red ink in each page
paid on under the signature of Officer concerned.
7.10 An entry about closing of account should be made in Account Opened and Closed Register.
7.11 A note in red ink in bold letters reading Account Closed on should be
made in Account Opening Form under the signature of Officer concerned. Such forms should be held
in a separate file.
8 . Additions/Deletions/Substitutions/Change of names in Recurring Deposit Accounts

At the written request of depositor(s) branches may add/strike off or substitute the names of one or
more persons in an Recurring Deposit Account, during its tenure. Female depositors are permitted to
change their name consequent on their marriage.
9 . Conversion of Recurring Account into FDR/Kuber Yojna/Deposit Certificate

The whole balance in Recurring Deposit Account can be converted into FDR/Kuber Yojna/ Deposit
Certificate any time during the tenure of the deposit. The conversion will not be treated as premature
payment and hence will not attract any penalty. The converted deposit should be for a period longer
than remaining period of the Recurring Deposit. The rate of interest for the period the Recurring
Deposit has run will be applicable and interest payable to be determined on a quarterly
compounding basis will be applied. A suitable note on FDR/KY has been issued against conversion of
Recurring Deposit Account No. notionally due on
when the converted FDR/KY Deposit certificate is closed before the expiry of the original maturity
date on Recurring deposit account penal rate of interest has to be applied for the period of Recurring
Deposit prior to conversion also.
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1 0 . Mode of payment of Deposit where the Aggregate Deposits are Rs. 20,000/- or more
When the principal amount together with the actual interest payable thereon, whether on or before
maturity is Rs. 20,000/- or more such payments should not be made in cash. Such payments may be
made either by credit to partys account or crossed account payee cheque/draft only. For this purpose,
total amount payable on this deposit together with other deposits, if any should be taken into account.
1 1 . Provision of Interest at Quarterly closing

Branch should provide interest accrued on all Recurring Deposit Account at the end of every quarter
with the help of the IBA Master Chart, circulated by the Bank.
1 2 . Overdue Recurring Deposit

12.1 A Recurring deposit should be classified under Overdue Recurring Deposit, if it remains unpaid
after the due date. In this connection we should remember the following.
a) On maturity, Recurring Account have to be transferred to Overdue/Recurring Deposit to
properly classify the deposit under demand liability instead of term liability.
b) The maturity proceeds of an overdue recurring deposit can be treated at par with other overdue
term deposits for the purpose of renewal and payment of overdue interest, provided the proceeds
of the matured Recurring Deposit are deposited under the Fixed Deposit. Scheme or under the
reinvestment plan of the Bank such as Kuber Yojna and/or Deposit Certificate Scheme.
12.2 The vouchers for transferring a Recurring Deposit Account into overdue Recurring Deposit will be
Debit
Recurring deposit Account
Debit
Interest Paid Account (RD)
Credit
Overdue Recurring Deposit Account (with total amount of maturity proceeds)
1 3 . Reinvestment of Overdue Recurring Deposit Account :

The proceeds of overdue Recurring Deposit account can be reinvested in Fixed Deposit/ Kuber
Yojna/Deposit Certificate at the option of the depositor.
In such a situation, the following rules shall apply.
a) If the request for reinvestment comes from the depositor within 14 days of date of maturity of
RD account the FD/KY/DC shall take effect from the date of maturity of RD account and the
rate of interest on such FD/KY/DC account shall be as prevailing on the date of maturity of RD
account.
b) If the request for reinvestment comes from the depositor after 14 days of the date of maturity of
RD account, the FD/KY/DC shall take effect from the date of such
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request and the rate of interest on such FD/KY/DC account shall be as prevailing on the date of
request, provided the period of reinvestment should be at least equal to the period it remains
overdue.
The depositor in such cases shall also be paid
interest for the overdue period
i.e. from the date of maturity of RD to the date,
preceding the date of renewal.
The rate of interest for the overdue period will be the rate, prevailing on the date of maturity or
on the date of renewal, whichever is less.
c)
If the depositor does not intend to reinvest the maturity value, the interest for the overdue period
may be paid at SB rate, but in such a case, the fraction of a month is to be ignored.
1 4 . Intimation of maturity date of RD account in advance to the depositor

Branch are to maintain Due Date Diary meticulously for all Recurring Deposit Account. Letter of
Intimation (D-27) is to be sent to the depositor at least 15 days before the due date intimating them the
date of maturity of their RD account.
As the revised guidelines for reinvestment of maturity proceeds of Recurring Deposits as mentioned
hereinabove has become more stringent the branches must follow the above guidelines scrupulously.
1 5 . Balancing
15.1 Recurring deposit should be balanced once in three month on days to be specified and as often as the
Manager may direct.
15.2 Balance of all Recurring Deposit Accounts should be taken down and their total should tally with the
General Ledger figures.
15.4 No entries should be passed in adjustment of figures without the matter being brought before the
Manager.
15.5 The Manager must countersign the adjustment voucher.
15.6 The Officer who has been allotted the duty of checking the balances should check the jotting down
of balances from ledger(s) and also totals in Balance Book.
15.7 The final balance in Balance Book should be written in words and below that a rubber stamp with
the following words should be affixed and signed by persons concerned.
Balanced
by ................................ (Clerk)
Checked
by ................................. (Officer)
Examined by ............................... (Asst. Manager)

Initials of Manager .....................
(For detailed instructions kindly refer to Chapter No. X Balancing of Ledgers).
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RECURRING DEPOSIT ACCOUNT RULES

Opening of Recurring Deposit Accounts :
1. Any person approved by the Bank may open a Recurring Deposit Account upon agreeing to comply with the rules
governing such accounts.
2. A person intending to open Recurring Deposit Account must call at the Bank and sign an application for opening such
an account and declare therein that he/she has agreed to accept the rules for the conduct of Recurring Deposit
Account No. entrance fee or any special charge for the Pass Book will be levied.
Who may open Recurring Deposit Account :

3.
A Recurring Deposit account may be opened :

a)
by a person in his own name or jointly with other persons payable to any one or more of them or
survivors. More than one account in the name of a person singly or jointly may also be opened .
b) by a natural guardian, i.e. father or mother on behalf of a minor, by guardian appointed by Court. In such
a case a declaration of the date of birth of the minor will have be oe be furnished to the Bank at the time
of opening the account.
c) Account as minors may be opened in their names singly provided he/she has attained the age of 10 years
and can read and write.
d) In the name of clubs, societies, associations, educational institutions, trust, firm partnership provided they
are register and joint stock companies.
e) Amount of minimum monthly installment should be Rs. 50/-.
4.
The Bank will not open an account which is to be operated under a cross mark, or signature by the
hand of another person.
5.
The number of installments would usually be 12, 24, 36, 39, 63, 72, 84, 96 and 120 though any
instalment in multiple of 3 (Minimum 12, Maximum 120) may be chosen. The interest rates on
such deposit will be the same as applicable to other terms deposits under reinvestment plan for
the corresponding period.
6.
The instalment is payable once every month. Every depositor shall pay, the deposit amount for any
month on or before the last working day of the month, failing in which a penalty will be charged on
the arrear of instalments @ 7.5 paise for every Rs. 5/- per month for Recurring Deposit accounts
for less than 60 months and @ 10 paise for every Rs. 5/- per month for accounts of 60 or
more months. A part of a month will be treated as full month and the amount will be rounded to
higher 5 paise, when necessary.
7.
All deposits by a local depositor should be accompanied by paying-in-slip which will be

supplied free of charge. Every paying-in-slip should bear the account number. When a deposit is not
being made under paying-in-slip and is remitted by Money Order. Postal Order etc. the depositor
should give his/her name and the account number. If the amount is remitted by cheques on outstation
It should include the collection charges. Standing instructions from
the depositor for transfer
of monthly installments from his Savings Bank or Current account will be accepted and such
transfers will be effected by the Bank, free of charge. In cases where the depositor fails to maintain
sufficient balance in his account to effect such transfers, the standing instructions will be treated as
canceled and the instalment will be deemed to have fallen to arrears.
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8. If a depositor is habitually late in making the deposit or if the deposit is in arrears for a period exceeding 4 months the
Bank may issue a notice calling upon him/her to pay the arrears within 15 days and in the case of failure to
comply with the notice the account would be closed at the Banks discretion. On such closure the depositor will
be entitled to the amount already deposited with interest as per Rule No. 20.
9. If the depositor wishes to close the Recurring Deposit account and withdraw the deposit before the expiry of the
period agreed upon, interest would be allowed.
10. The period agreed upon when opening a Recurring Deposit account cannot be altered subsequently.
11. Recurring Deposit Accounts can be transferred from one branch of the bank to another.
12. Monthly installments will be accepted at one branch of the bank for remittance at par for credit of the Recurring
Deposit Account at another branch of the Bank.
13. Nomination facilities are available on Recurring Deposit Accounts.
14. Simple loan may be granted on the security of Recurring Deposits upto a maximum of 75% of the amount act
credit in the Deposit account with a minimum of Rs. 100/-.
15. The application for a loan shall be made in the prescribed form, the Pass Books should be sent to the Bank along
with the application and the applicant shall execute a promissory note in the prescribed form supplied by the
Bank. The Recurring Deposit Pass Book will be returned to the borrower after the loan is adjusted.
16. The loan of an account in joint names will be given on an application after execution of documents by all the
parties to the account, unless any instruction to the contrary is being given at the time of opening the account.
17. No further loan on the security of the same deposit account will be granted while a previous loan is existing. But
a new loan on the security of the same account may be granted under the following conditions.
a)
The previous loan should be discharged by the new loan.
b) Interest will be charged both for the balance of previous loan discharged and for the amount of the new
loan for the month in which the transaction takes place, provided however, that when the amount of the
new loan exceeds the balance of the previous loan discharged by not less than Rs. 200/- no interest will be
levied for the balance of the previous loan discharged for that month.
18. The Bank reserves to itself the right to refuse or close any account without assigning any reason there for.
19. The Bank reserve to itself the right to delete, add to or after these rules at any time without giving a specific and
separate notice to every account holder and an announcement of the change in the rules pasted on the Notice
Board in the Bank or given in the press will be considered as sufficient notice.
20. Premature Repayment : If a Recurring Deposit is required to be paid before maturity, interest payable will be one
per cent less than the interest applicable for the period for which the deposit remained with the bank, interest as
permissible shall be at simple rate.
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CHAPTER - IV
FIXED
DEPOSITS, KUBER YOJNA DEPOSITS

AND
1 . GENERAL
1.1 According to RBI Directive Term Deposit shall mean a deposit received by a Bank for a fixed
period, which is withdrawable only after the expiry of the said fixed period. The rates of interest for
different periods operative on the date of acceptance of the deposit
will be as specified by the bank from time to time. So it is absolutely necessary to mention the date of
issue, the period for which the deposit has been accepted, the due date and also the applicable rate of
interest.
1.2 Fixed Deposit, Kuber Yojana and Deposit Certificate are the old deposit schemes, of our Bank coming
under term deposits as they are repayable after an agreed period. The interest of the deposit is
payable either periodically (for FDR) or at maturity (for KY and DC). The minimum amount accepted
under this scheme is Rs. 1000/- for FDR, Kuber Yojana and Deposit Certificate and the agreed period
of deposit should be 15 days or more but should not exceed 10 years (120 months). However the Bank
shall accept deposits for a minimum period of 7 days, provided the deposit amount is Rs. 15 lakhs or
more. Further under Court Orders deposits can be accepted for more than 10 years.
1.3 Kuber Yojana is a scheme for Fixed Deposit where interest on Fixed Deposit is compounded at
quarterly intervals, principal with interest payable on maturity.
1.4 Deposit Certificate is actually a Kuber Yojana and the rules are same as applicable to Kuber Yojana
scheme. Only major difference is its issue price will be in fraction of rupee and the maturity value will
be in round sum.
1.5 Each Fixed deposit/Kuber Yojana/Deposit Certificate is a separate contract between the bank and the
depositor.
1.6 Generally, the longer the period of term deposit the higher is the rate of interest.
1.7 Fixed Deposits can be accepted for odd amounts and for odd periods but is subject to the stipulated
minimum period and amount.
1.8 The deposits in the name of minors can be accepted for more than 10 years i.e. till he/
she attains majority provided the branches are otherwise satisfied to the effect that the funds deposited
are to safeguard the interests of the minors and the branches are convinced that it is necessary to do so.
Direction of court/tribunal for accepting such a deposit of longer period is also to be accepted as a
mandate by the Bank.
2 . WHO CAN OPEN AN ACCOUNT

2.1 A term deposit can be opened
a) by an individual in his own name
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b) by more than one individual in the joint name

c) on behalf of a minor by his natural guardian or by a guardian appointed by court
d) by a minor in his/her name provided he/she has attained the age of 10 years and is a literate
e) In the name of clubs, societies, associations, educational institutions, trusts, firms partnerships,
joint stock companies, executors and administrators.
2.2 A Fixed Deposit account can be opened in the name of an illiterate person to be operated by his thumb
impression.
2.3 A Fixed Deposit account cannot be opened :
a) by a minor in his own name who has not attained 10 years of age
b) In the name of a person whose account is to be operated under a cross mark or signature by the
hand of another person.
2.4 A Fixed Deposit account can be opened only after the depositor has been properly introduced.
2.5 It is also advised by Reserve Bank of India that acceptance of a Deposit under instructions from a
person other than a depositor himself or his duly constituted attorney is a violation of their directives.
3 . INTRODUCTION OF ACCOUNTS
3.1 A Term Deposit can be opened only after the depositor has been properly introduced. Introduction
should be made by a person well-known to the Bank/ having satisfactory conducted account with the
bank. Customer identification procedure as laid down in KYC norms are to be adhered to.
3.2 The introducer should not introduce an account just by mere acquaintance with the prospective account
holder. It is essential that the introducer should know fully well the prospective account holder whom
he is introducing. The introducer should be in a position to identify or be able to give more particulars
about the account holder from his personal knowledge, should there arise any occasion at a later date.
This is to be brought to the attention of the introducer. In other words, it is absolutely essential for the
bank to know its customer before it affords to open Term Deposit Account.
3.3 Introduction is not necessary where the depositor is already having an introduced account. No fresh
introduction is necessary for renewal also. But particulars of such existing accounts should be entered
in introduction column of the application form under the authentication.
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3.4 It should be borne in mind that a person who introduces an Account holder to the bank is
in no way responsible for any act of the Account holder or a Bank as for that matter in his dealings
with the said account holder. Bank also cannot defend its action on the ground that a responsible and
respectable person signed the account opening form as an introducer and that there was no cause for
suspecting the bonafide of the customer. It is reiterated that a reference from a third person as an
introducer is only a means and not an end in itself in the matter of opening new account.
3.5 Branches should consider Passports, Personal Identity Cards as adequate introduction for Opening
Accounts in the name of such passport Identity Card Holders. However, photostat copies of passport
Identity Cards should not be considered as adequate introduction. Particulars of passport and identity
cards are to be noted in the introduction column of the ledger after certifying from the original.
3.6 Reserve Bank of India has advised all banks to follow uniform procedure in respect of accounts
opened with them by the employees of other banks. Whenever an employee of another bank opens an
account with our bank a reference should invariably be made by the concerned branch of our bank to
the employer bank informing the latter of this fact. Accordingly, whenever our employees open
accounts with other banks, such a reference will be made by them to our Bank.
3.7 Photograph of the depositor to be obtained. If however the depositor has other types of
account where photograph has been provided, fresh photograph need not be obtained. In case of
deposit by more than one person, photographs of all the depositors are to be obtained. In case of
deposit in the name of a minor, guardians photograph is to be obtained.
4 . RATE OF INTEREST
4.1 Rate of Interest on Term Deposit is now determined by individual banks independently.
4.2 For members of staff interest will be at the rate of 1% higher than the prescribed rate for public for the
corresponding period. In case of joint accounts of staff members along with the family members this
additional rate of 1% will be allowed provided the 1st name in the deposit receipt is that of the staff
concerned. The benefit of higher rate of interest is also applicable to retired members of staff and
widows of deceased staff members.
4.3 Senior Citizens are also offered higher rate of interest.
5 . OPENING AND CONDUCT OF ACCOUNTS

5.1 A Fixed Deposit account including Kuber Yojana can be opened with a minimum of Rs. 1000/-.
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UCO BANK
5.2 The depositor should be required to fill up :

a) Fixed and Time Deposit Application Form DT-2
b) Specimen Signature Card
5.3 In case of account of minor, declaration/proof of date of birth of the minor should be obtained. (For
detailed instructions please refer to Accounts of Minors)
5.4 In case of account of illiterate person, photograph of account holder should also be obtained. (For
detailed instructions please refer to Accounts of illiterate Persons).
5.5 In case of accounts of clubs, societies, associations, education institutions, trusts, firms, partnerships,
joint stock companies, executors and administrators, branch should follow the same procedure as is
followed in case of opening of current account of such bodies/ fiduciaries by calling all the relevant
papers, documents etc. (For detailed instructions, kindly refer to Chapter Current Deposits).
5.6 In the case of account of member or an ex-member of banks staff or widow of a person who was
formerly a member of the banks staff, a declaration should be obtained to the effect that the money
deposited in the account belongs to the depositor.
5.7 Account should be properly introduced.
5.8 The Officer concerned should ensure that Fixed and Time Deposit Application Form and Specimen
Signature Card have been correctly and properly filled in and signed by depositor. He should pay
special attention to following :
a) Account is properly introduced
b) Full name and address of the account-holder has been given
c) In case of joint accounts, names of all the depositors should be written. However, it is customary
to take the address of only first person named. But, the signatures of all the depositors are to be
taken for the declaration B (Declaration of Joint Account Holders, as to disposal of maturity
proceeds) and C (Declaration of Joint Account Holders, as to premature payment, premature
extension and granting of loan against deposit).
d) Period of deposit has been mentioned. It is the depositor who has to decide the period of deposit.
Officer concerned can suggest and help him select the best period by which he can earn the
maximum interest.
Note : The period of deposit for less than 6 months should be expressed in terms of days and 6 months
and over in terms of months.
e)
Correct rate of interest is mentioned.
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UCO BANK
In case of member or ex-member of banks staff and widow of an ex-member of staff interest
rate should be 1% higher than the applicable rate (For details of staff account, please refer the
relevant clause of Savings Bank account)
f) In case of Joint accounts, the instructions about disposal of funds such as Either or Survivor or
Jointly etc., are clearly given and authenticated by joint account holders.
It should also be seen that Fixed and Time Deposit application form as well as Specimen
Signature Card have been signed by all the joint account holders. (For detailed instructions,
please refer Chapter-XV Account of Joint Persons)
5.9 a) Nomination facility is available to depositors. Banks should obtain separate nomination form
for each Term Deposit Receipt (TDR). It is irregular and risky to add the details of TDR issued
to the depositor subsequently, in the nomination form obtained at the time of the first TDR. The
nomination form is a statutorily prescribed document bearing a specific date and thus valid for
the transaction(s) covered on that specific date as executed by the depositor. (For details refer
the chapter on Nomination in Part-III).
b) In case of minors account, whether self operated or otherwise nomination should be made by a
person lawfully entitled to act on behalf of the minor.
c) Nomination, can be obtained in prescribed form DA-1 or in for A attached to Application-cumDeposit form (DT-2).
5.10 In case of joint Accounts, as per guidelines issued by IBA, branches may obtain from joint
depositors, if they so agree, letter duly signed by all of them for opening a term deposit account, which
would allow the bank to make premature payment or a loan against a deposit in joint name of
either/the former/the latter/any one or to the survivor(s). Such a letter where obtained is to be
considered as an integral part of the set of account opening form in respect of the Joint Deposit
Account, when signed by all depositors it will be legally permissible and valid for the bank to allow
payment of a loan against a term deposit under a discharge as per directions in the letter of
authorisation. The joint deposits should be advised that such letter when signed only help the in prematurely encashing and raising a loan even without discharge of all the Joint Depositors. The format of
the letter is reproduced below :
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UCO BANK
ANNEXURE
Place :
Date :
To
The Manager
UCO Bank
Branch
Dear Sir,
Re : Request to open Term Deposit A/c. in our names.
In continuation of our application of date to you to open in our names a
A/c at your Branch we hereby issue and record our consent, request and authorisation that the Bank
may, on receipt of a written application from Shri/Smt.
the former/latter/the first/second named out of us or either or survivor of
us or anyone of survivors or survivor of us, in its absolute discretion and subject to such terms and
conditions as the Bank may stipulate and without reference to any of the other depositors amongst us,
(a) grant of loan/advance against the security of the term deposit held in our joint names, or (b) make
premature payment of the deposit together with interest due, to the former/the latter/the first/second
names of us.
Either or survivor of us etc.
Any one of us or survivor(s)
This letter is to be considered and held as an integral part of the set of account opening forms in
respect of our abovementioned deposit account.
Yours faithfully,
1)
2)
3)
(To be obtained in case the depositor(s) are/is illiterate or do not know the language of the letter)
The contents of the above letter have been explained by me to the signatories of the letter (Mr.
) in language known and understood by them.
( Signature )
Date :
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UCO BANK
5.11 The Fixed Deposit and Time deposit application form as well as Specimen Signature Card should be
carefully scrutinised by the Officer concerned and if he is satisfied that all the particulars are properly
written, he should sign the Fixed and Time deposit application form and Specimen Signature Card. He
should also fill in columns about state of operation i.e. singly or jointly and name of account at the left
hand bottom corner of Specimen Signature Card.
If any cage is left blank in Specimen Signature Card, a small curvy line in ink should be drawn in the
cage so that there is no chance of it being misused.
5.12 For paying in money as deposit there is no need to fill in pay-in-slip separately. The application form
DT-2 serves as pay-in-slip as well. But the customer sending a letter of authority requesting for
issuance of a term deposit receipt to the debit of the account should send
a cheque along with the letter
application for (DT-2)
any other requisite papers
The signature of customer on the letter requesting issue of Fixed Deposit receipt should be verified and
initialled by authorised officer. A debit voucher should be prepared for the amount of the Fixed
Deposit. The letter should be cancelled with an oblique line with notation EP for entry passed. The
cancellation should be dated and initialled by the Officer signing the debit voucher and letter should be
attached to the relative debit voucher.
Sometimes a customer may send through a messenger a cheque drawn payable to the bank for issuing
a Fixed Deposit Receipt. In such cases, the cheque should be accom-panied by a covering letter
requesting issuance of Fixed Deposit Receipt and containing all other necessary particulars. The
covering letter should be signed by the person(s) authorised to operate on the account. Without such
authority, the cheque should not be utilised to issue Fixed Deposit receipt as tendering of cheque in
favour of the bank is no authority to issue Fixed Deposit Receipt by debiting the drawers account.
5.13 Fixed and Time deposit application form (DT-2) bears two distinct parts, the top portion serves as
Application form-cum-credit voucher whereas the lower portion contains (A) Declaration regarding
nomination. (B) Declaration of joint account holders as to disposal of maturity proceeds of (C)
declaration of Joint account holders as to premature payment, premature extension and granting loan
against deposit while the top portion serves as voucher, the lower portion after being detached be filed
in a separate file and be preserved carefully.
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UCO BANK
5.14 In fact, in our Bank, three different categories of Fixed Deposit accounts are there.
a) Fixed deposits having a duration of less than 6 months.
Duration of such Fixed Deposits are mentioned in days and the principal and interest for the
period of deposit is paid in lumpsum on the due date.
b) Fixed Deposits having duration of 6 months or more but up to 120 months.
Duration of such fixed deposits are mentioned in months and the interest on the deposit
amount is paid at quarterly intervals, whereas the principal amount is paid on due date against
the remaining balance of interest due.
c) The same type of Fixed Deposits as described in point b) above, but interest at
discounted rate paid at monthly intervals, whereas the principal amount is paid on due date. So,
it is desirable to maintain separate set of Fixed Deposit Registers (DT-3) for different types of
fixed deposits in order to have a better control over the matter.
5.15 But, for Kuber Yojna and deposit certificate account the entry will be made in newly introduced
Register-cum-Ledger (RCL).
5.15.1Separate set of RCL is to be maintained for KY account. RCL meant for Kuber Yojna
account may be numbered as KY-1, KY-2 etc. Each deposit under KY scheme is to be entered
in separate folio of the RCL in chronological order.
5.15.2Similarly, separate set of RCL is to be maintained for DC accounts and entry for each deposit
under the scheme will be entered in separate folio of the RCL in chronological order.
5.16 The name of deposits as entered into FD Register (DT-3)/RCL for KY account or RCL for DC
Account are also to be entered into Index Register in order of first letter of their first name.
5.17 Besides entering into fixed deposit register or Register-cum-Ledger, each deposit is to be entered first
into the respective folio of account opening registers, where each account will be allotted with a yearly
serial no. with suffix of the year like 05-06, 06-07 etc.
This serial number in addition to the printed number of the Receipt is to be mentioned in Fixed
Deposit Register/Register-cum-Ledger.
5.18 Issuance of Term Deposit Receipts
With effect from 12.05.1994 two different types of Fixed Deposit Receipts are in use in our Bank. One
for Kuber Yojna and another for Fixed Deposits, but each is having the provision on reverse for
renewal for ten times, without changing the receipt i.e. there is
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UCO BANK
no need of issuing a fresh receipt at the time of each renewal. For deposit certificate, however, our FD
receipts bearing distinct No. DT should be continued to be in use.
While issuing Receipts under Fixed Deposit Account, Kuber Yojna account or Deposit Certificate
account, due care should be taken on the following points.
a) Date 11.12.2000 should be written as 11th December 2000 rather than 11.12.2000. 02/01/2001
nd
should be written as 02 January 2001 rather than 02/01/2001.

b) Name : Name should be written in full. In case of joint account name of all joint deposits should
be written and the mode of operation also stated.
c) Rate of Interest : The rate of Interest should be written in words.
d) Period of Deposit : Period of Deposit should be written in terms of months for deposits for
period below six months period of deposits should be written in terms of days instead of month.
e) Due Date :
th
Due date should be correctly calculated and written. It should also be written as 11
December 2002 rather than 11/12/2002.
When the due date falls on Sundays or Bank Holidays, the rule is that amount is to be
paid on the next (succeeding) working day. Thus in such cases succeeding working day
should be written as due date. Further, it has been clarified that when the due date of
deposits falls on a holiday/non business working day irrespective of the fact whether the
depositor seeks repayment on the immediately succeeding working day or later on,
interest is to be paid for the holiday or non-business working day. Interest amount so
payable should be on maturity value in case of investment deposits whereas it should be
on the original Principal amount in case of ordinary FDR and at contractual rate.
When the term deposit is placed in months, say 39 months and date of deposit is
12/11/2000 the due date will be 12/01/2004 i.e. the due date is arrived by, adding the
number of months with the month, in which the deposit is made, keeping the date
unchanged.
However, in case where period of deposit has been expressed in terms of days and not in
months the due date should be calculated as per the following procedure.
a) Calculate the days and not months. If February has 29 days calculate 29 days.
b) Include date of deposit
c) Exclude date of payment
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UCO BANK
Thus, due date of term deposit receipt dated 21

as under :
st
December 2001 for 91 days will be calculated
December 2001
11 days (including the date of deposit)
January 2002
31 days
February 2002
28 days
March 2002
21 days
91 days
Thus due date will be 22
nd
March 2002.
f) Notice of Withdrawal :
Where the depositor deposits the amount in Fixed Deposit he also decides about the period it
means, when he deposits the amount, he also gives notice to the bank that the amount and the
interest on it (except where interest is paid monthly/ quarterly/half yearly) should be paid to him
on a particular day. This notice of withdrawal is given by the depositor on the same day on
which he deposits the amount. Therefore, the date of notice of withdrawal and the date of
deposit will be same and it should be written on Fixed Deposit Receipt.
g) Serial Number :
In addition to printed number, Fixed Deposit should also be given a year-wise running serial
number. Running serial number is allotted in Account Opening Register.
h) Fixed deposit receipt should be issued free of alteration, if any alteration is made in the Receipt,
it should be authenticated under the signature(s) of Officer(s) signing it. If there are alterations
in amount it is advisable to cancel and issue fresh Receipt.
i)
Fixed Deposit receipt may be either got types or may be written in hand. If written in hand it
must be neatly and legibly written. Fixed Deposit Receipts shabbily written or having cutting
through authenticated make a poor impression on the depositor.
j)
Indelible ink should be used in the writing of Fixed Deposit Receipt. Branches having pin point
typewriters should preferably issue Fixed Deposit Receipts typed on such
typewriter. Where computer operated Fixed
Deposit Receipt
writing machines
are provided, the same must be used.

The protectograph machine should be used
for superscribing
the amounts in
Fixed Deposit receipt.

Note :
(i) The marking by protectograph machine should be clear and faint impression
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UCO BANK
should be avoided, it should not be made near to the top of a receipt so as to guard against
such a marking being clipped off by cutting a small part of Receipt.
ai) Attempts should not be made to rectify mistakes in marking by protectograph machine either
by way of substituting the previous marking by fresh impression or by over marking in all
such cases, a fresh receipt should be issued and receipt containing incorrect markings should
be cancelled on reference to the Manager/Asst. Manager.
5.19 The printed number and branch serial number as appearing on Fixed Deposit Receipt should be
noted on the application form at the space in the left hand bottom side of the application form.
5.20 The particulars on counterfoil should also be carefully filled in.
5.21 Particulars of Fixed deposit (but not the KY & DC) should be posted in Fixed Deposit Ledger (Form
DT-4) in the account of depositor existing or new.
5.22 Entry should be made in due date diary for all term deposits i.e. FD, KY and DC Accounts.
5.23 The FD/KY/DC Receipt should be signed by two authorised officers of the branch.
5.24 Before signing a Fixed deposit receipt the Officer(s) should
a) satisfy himself that the branch has received the amount of receipt. The application form (DT-2)
should bear Cash Received stamp account debited stamp duly signed by Chief/Head cashier
authorised Officer or deposit department.
b)
Ensure that all the particulars as mentioned in paragraph 5.18 have been correctly filled in the
receipt.
5.25 The counterfoil should also be checked and initialled by concerned officer(s).
5.26 The Officer(s) should also initial the printed and serial number of fixed deposit receipt noted on the
application form (DT-2) at the space in its top. This is necessary precaution to obviate the possibility of
more than one receipt being issued against one application form.
5.27 The concerned officer(s) should also check and initial
a) fixed and time deposit register
b) fixed and time deposit ledger
c) due date diary
d) Account opened and closed register
e) Register-cum-Ledger ( in case of KY/DC)
f) Index Register
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UCO BANK
5.28 The Fixed Deposit receipt should be delivered to depositor against his signature on the reverse of the
voucher (DT-2).
6 . SPOILT FIXED DEPOSIT RECEIPTS

6.1 When a fixed deposit receipt form is spoilt in preparation, the fact should be noted on the relative
counterfoil under the initials of a singing official. The spoilt form should be effectively cancelled by
writing words cancelled thereon in red ink and by tearing off the space meant for the signatures of
the signing officials and the term deposit receipt form should thereafter be stapled to the counterfoil.
7 . CUSTODY OF FIXED DEPOSIT RECEIPT BOOKS

7.1 Fixed Deposit Receipt is security form. Its receipt from Head Office and custody at the branch and use
in department should be governed by the same precaution as are prescribed for cheque book and other
security printing materials.
7.2 Fixed Deposit receipts Book in use should remain in the custody of the Officer concerned in locked
box. It should be handed over to the clerk concerned at the commencement of the business of a day.
7.3 At the end of the day, when days transactions are over, the Fixed Deposit Receipt leaves in the book
should be verified by actual counting by concerned officer and taken to custody.
7.4 There is always a danger of Fixed deposit receipt leaf being surreptitiously taken away from the book and
fraudulently used. Great care must, therefore, be taken in ensuring that no leaf is so removed. The
number of Fixed deposit receipt issued during the day and the receipt forms on hand should be
carefully reconciled at the close of office every day. The books should be locked in a steel box to be
kept in an almirah in the strong room.
8 . FIXED DEPOSIT RECEIPTS

8 . 1 General Guidelines
a) The minimum amount of deposit under the scheme is Rs. 1000/-, but for option of payment of
interest at monthly interval the minimum amount of deposit is Rs.10,000/-.
b) The minimum period of deposit is 15 days.
c) The maximum period of deposit is 120 months.
NB : However, under the order of court/tribunal the period of deposit may be accepted beyond
120 months.
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UCO BANK
d) If the period of deposit is less than six months, it is expressed in terms of days and the entire
amount of interest is to be paid in lumpsum at maturity.
e) If the period of deposit is 6 months and above, it is expressed in terms of months and at the
option of the depositor the interest may be paid at quarterly/monthly intervals.
8 . 2 Mode of Interest Calculation
8.2.1
Where the deposit is received for a period less than 6 months, while calculating Interest, the
following rules should be adopted :
One year should be considered as 365 days for the purpose of interest payment
The calculation of interest for a deposit of Rs. 10,000/- for 91 days at rate of interest of
10% p.a.
10,000 x 91 x 10
8.2.2
= Rs. 249.31 i.e. Rs. 249 (Rounded off to nearest rupee)
365 x 100
Interest in such cases is to be paid at maturity.
For the Fixed Deposits, having a tenure of 6 months or more, the interest is calculating on
the basis of the following months.
Interest is to be paid at quarterly intervals.

NB : For convenience in making payment, interest due for the first fraction period of the quarter
up to 30th June/30th September/31st December/ 31st March is to be paid on the first
working day of July/October/January/ April respectively.
Interest payable for a full quarter is the 1/4th of interest due for a year.
Interest payable for a month is the 1/12th of interest due for a year, irrespective of the
days of the month being 30/31/28/29.
Interest payable for a day is 1/365th of interest due for a year.

Example :
A Fixed Deposit of Rs. 10,000/- was opened on 10/02/2001 @10% interest for a period of 36
months. The due date is 10/02/2004.
Interest to be paid on 01/04/2001

(From 10/02/2001 to 31/03/2001 49 days)
10,000 x 10 x 49
= Rs. 134.24 i.e. Rs. 134
365 x 100
Interest is to be paid for subsequent eleven quarters. On the first working day
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UCO BANK
of July, October, January and April
10,000 x 10 = Rs. 250.00

4
Interest to be paid for the period 1/1/04 to 9/2/04 = Rs. 250 Rs. 134 = 116.00
Thus total interest to be paid= Rs. 135/- + (250x11) Rs.2750 + Rs.116 = Rs.3000/-
8 . 3 Other Formalities
8.3.1
A letter should be obtained from Depositor(s) requesting for periodical payment of interest.
In case of Joint Depositors all of them should sign the letter.

8.3.2 The signature of the deposit on letter should be verified and held in separate file. Those
instructions should be carefully recorded in Fixed and Time Deposit Register, Ledger and
Standing Instruction Book.
8.3.3
The amount of interest paid periodically should be marked on the reverse of Fixed Deposit
Receipt/ Fixed Deposit Register.

8.3.4
The amount of interest payable periodically should be credited to a Savings Bank Account of
the depositor.
Note :
a) Every persuasive effort should be made to induce the depositor to open a Savings Bank
Account for payment of such interest.
b) In case of joint accounts, the Savings Bank account to which interest amount is credited
should also be opened in the same joint names.
c) In such cases, payment of interest should be made through Standing Instruction Register.
8.3.5
If depositor insists for payment in cash, branch may issue him an uncrossed Managers
cheque, which can be encashed by him over the counter.

8.3.6
Date of payment of interest should be carefully marked in Fixed and time deposit register
and register of monthly payment of interest on fixed deposits. Officer and clerk concerned
should be very careful in this regard as omission to mark date of payment of interest in Register
is likely to result in double payment of interest for that period.
8.3.7
As an additional precaution, it is suggested that a note should also be made on the reverse of
Fixed Deposit Receipt for such periodical payment of interest and duly initialled by concerned
Officer. If the cages on the reverse of Fixed Deposit Receipts are found to be inadequate, an
alonge may be attached to Receipt. Where
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UCO BANK
interest is credited to account of depositor, this requirement may be waived, as a definite record
would be available from such account.
8.3.8
All Fixed Deposit Receipt should invariably contain the periodicity of payment of interest,
amount of interest payable at such periods or at maturity. A rubber stamp should be prepared
reading as
a) The interest is payable at rests
b) The interest payable on this deposit every month/quarter or at maturity works out to Rs.
8.3.9
Where periodical payment of interest on FDR is made by credit to deposits account, the
practice of production of relative Fixed deposit for making a note each time is not necessary.
8 . 4 Fixed Deposit Accounts : Monthly Interest at discounted Rates
In consultation with the Reserve Bank of India it has been decided that while banks should calculate
interest on a quarterly or longer intervals or required in terms of RBIs directive, it would be open to
pay interest to the depositors on a monthly basis provided, the amount of interest paid every month is
not more than the discounted value of the interest for one month so that even if interest is allowed on
the interest so paid, the aggregate amount (i.e. amount of interest paid monthly with the interest that
may accrue on the amount so paid in one month) would not exceed one months interest on the deposit
calculated on a quarterly basis.
Table of discounted monthly interest from 6% to 10% has been provided hereunder :
Monthly Income Scheme
Discounted Interest on Fixed Deposit
( PRINCIPAL AMOUNT DEPOSITED RS. 100/- )
Interest Rate
(% p.a.)
Monthly interest
Interest Rate
(% p.a.)
Monthly Interest
6.00
0.4975
8.00
0.6622
6.25
0.5181
8.25
0.6628
6.50
0.5387
8.50
0.7033
6.75
7.00
0.5593
0.5799
8.75
9.00
0.7239
0.7444
7.25
0.6005
9.25
0.7649
7.50
0.6211
9.50
0.7854
7.75
0.6417
9.75
10.00
0.8059
0.8264
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UCO BANK
8 . 4 . 1 General Guidelines
a) The minimum amount of the deposit under the scheme is Rs. 10,000/b) The minimum period of the deposit is 6 months.
c) The maximum period of the deposit is 120 months
NB : However, under the order of court/tribunal the maximum period may be extended beyond 120
months.
8.4.2
In case of monthly payment of interest, record should be maintained in Register of Monthly
Payment of Interest on Fixed Deposit (DT-1).

8.4.3
All the precautions and procedures as to be followed for calculation and payment of Interest
at quarterly intervals are to be followed in this case also (Please refer Clause 8.3 above).
8 . 5 Premature Payment of Fixed Deposit Receipt A/c :
8.5.1
Fixed Deposit Receipt is a contract whereby depositor agrees to receive back principal
amount after a certain period agreed upon at the time of making the deposit, interest being
received either periodically or at maturity. However, if a depositor request for premature
payment such request may be acceded to.
8.5.2
No interest shall be paid for premature withdrawal of Fixed Deposit account, before
completion of 15 days.
8.5.3
The existing rule of premature repayment of term deposits where the effective rate of interest
payable to the depositor on premature withdrawal of term deposit is the rate applicable on the
date of deposit for the period for which the deposit has actually remained with the bank subject
to penalty as under :
Penalty
Less than Rs. 15 lacs
No penalty
Rs. 15 lacs & upto Rs. 1 crore
1% p.a.
Above Rs. 1 crore
Applicable card rate for non-incentive

deposits for the period of the deposit kept
with the Bank will be paid.
This provision would also apply to Deposits made by staff members.

8.5.4 Procedure for premature payment
a) the depositor should make request for premature payment in writing. In case of
joint accounts, such requests should be signed by all the depositors, unless a letter as per
Annexure to item no. 5.18 signed by all the joint depositors was taken at the time of
opening the account.
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UCO BANK
b) The letter should be referred to Manager/Asst. Manager and his sanction for premature
payment should be obtained. If he agrees to pay, he should write on the letter with initials
Pay before maturity.
c) The Term Deposit should be discharged by the party. In case of a Joint account, unless the
joint authorisation letter taken at the time of opening the account the receipt should be
discharged by all the parties to the joint account.
d) The period for which the deposit has run to be ascertained. The rate of interest payable on
a Term Deposit for this period as ruling/applicable on the date of opening the term deposit
account has to be found out. If this rate of interest is (say) 8% p.a., effective rate of
interest payable on premature encashment is to be arrived at as per Clause 8.5.3 above.
8.5.5
Procedure of calculation and payment of interest in case of premature payment of Fixed
Deposit.
Example-I (Fixed Deposit where interest is to be paid at maturity)
Say, a Fixed Deposit of Rs. 10,000 was opened for 91 days on 10/01/2001 @6.5% interest per
annum. The depositor requested to close it prematurely on 08/03/2001. The period for which the
deposit remained with the bank is 57 days. Rate of Interest applicable for a Fixed Deposit for 57
days as was prevailing on 10/01/2001 was 6.5% per annum. The effective rate of interest will be
6.5% p.a. (no penalty).
The amount of interest payable
10,000 x 5.5 x 57
365 x 100
= Rs. 101.51 i.e. Rs. 102/-.
Example - II
A Fixed Deposit of Rs. 10,000 was opened for 60 months on 20th April 2005 @6.5% p.a. The
depositor opted to receive interest at quarterly intervals. The amount paid by the Bank to the
depositor is furnished below :
Date of Payment
For the Quarter ending
30.06.2005
June 2005
29.09.2005
September
31.12.2005
Amount of Interest Paid

Rs.
128
Rs.
163
December 2005
Rs.
162
31.03.2006
March 2006
Rs.
163
30.06.2006
June 2006
Rs.
162
30.09.2006
September
Rs.
163
31.12.2006
December 2006
Rs.
162
Total
Rs . 1 1 0 3
2005
2006
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UCO BANK
The depositor approached the Bank with a request to close the account before maturity on 9th
January 2007.
The deposit remained with the Bank from 20.04.2005 to 08.01.2007 i.e. for a period of 20
months 20 days. The interest rate applicable is that payable for the maturity period 1 year &
above to less than 2 years on the date of opening of the account which was 5.75% p.a. Further,
as the amount is less than Rs. 15 lakhs, no penalty is applicable and the effective rate will be
5.75%. Hence, the actual interest payable on the deposit is
10,000 x 20 x 5.75 +
12 x 100
10,000 x 20 x 5.75
365 x 100
= 9.58.33 + 31.51 = 989.84
or Rs. 990 (after rounding to nearest rupee)

Principal Amount Payable
Interest Amount Payable
Total Amount Payable on Premature Closure
Less : Interest Amount Paid
Balance Amount to be Paid
:
:
:
:
:
Rs. 10000
Rs.
990
Rs. 10990
Rs.
1103
Rs.
9887
Example-III (Fixed Deposit where interest is paid at monthly interval)

A Fixed Deposit of Rs. 10,000 was issued for 120 months on 10.04.2000 @10% p.a. The
depositor opted to receive interest at monthly interval. So at discounted rate he is to receive
interest @Rs. 82.64 or Rs. 83 per mensem. The interest paid to the depositor is as given below :
Interest Paid for the Period
Amount Paid
For 21 days in April 2000
Rs.
58
From May 2000 to August 2006 (76 months)
Rs.
6308
Total Amount Paid
Rs.
6366
On 10th September 2006 the depositor approached for premature closure of the account. The
deposit had remained with the Bank for a total period of 77 months. Rate of interest ruling on
the date of Deposit for the period of 77 months is that applicable for Above 3 years which is
10% p.a. As the amount is less than Rs. 15 lakhs, no penalty is applicable and the effective rate
of interest will continue to be 10% p.a., the rate applicable for a deposit of 77 months as on the
date of opening of account.
Amount of Principal Payable
Amount of interest payable for 77 months
Total Amount Payable
Amount already paid as interest
Balance Amount to be paid
:
:
:
:
:
Rs.
Rs.
Rs.
Rs.
Rs.
10000
6391
16391
6366
10025
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UCO BANK
Note : In all the above examples, for deposit amount of Rs. 15 lakhs & upto Rs. 1 Crore, penalty
of 1% p.a. will be applied to arrive at effective rate of interest and computation of
interest payable shall be made accordingly. For amount above Rs. 1 Crore, non
incentive deposit rate for the period the deposit remained with the Bank will be paid.
8 . 6 Payment of Fixed Deposit Account
Important Note :
a) The Fixed Deposit Receipt, duly discharged by the depositor(s) itself shall be treated as Debit
voucher, debiting FD Account.
b) Signature(s) of depositor(s) is to be invariably verified with that in the specimen card before
making payment.
c) Adjustment (if any) towards the interest already paid (as illustrated in foregoing examples) is to
be made if the payment if claimed before maturity.
d) The debit voucher, debiting Interest Paid account has to be signed jointly by the officer-incharge of deposit department and Sr. Manager/Manager of the branch Both the officials
independently should check the accuracy of the interest amount so paid.
e) Payment is to be routed through SB/Current account. In case no such account is there Managers
Cheque is to be issued in favour of the depositor.
f) In exceptional circumstances, payment across the counter may be made through uncrossed
Managers cheque.
g) When the fixed deposit is kept under Banks lien, the maturity proceeds is to be credited to the
concerned loan account.
8 . 6 . 1Passing of vouchers for payment of Fixed Deposits
a) Debit FD Account (the receipt itself will be treated as the voucher)
b) Debit interest paid (FD) (For the balance amount of interest payable at the time of final
payment)
c) Credit the account of depositor
8.6.2 Passing of voucher for payment of Fixed Deposit before maturity where excess amount has
already been paid by way of interest.
a) Debit FD Account (the receipt itself will be treated as the voucher)
b) Credit Intt. Paid (FD) (For the excess amount of intt. already paid)
c) Credit the account of depositor (for the balance amount)
8 . 6 . 3 Other Formalities
a) Payment of FD is to be authorised by the Officer-in-charge of Deposit Deptt.
b) Date of payment is to be marked in the concerned register under initial of officer
concerned.
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c) The particulars and principal amount of FD is to be entered in the FD ledger, with

remarks the amount of interest paid thereon, under initial of the officer concerned.
d) The specimen signature card should be cancelled and taken out to be kept in separate file.
e) Entries regarding closure should be made in Account Opening and Closing Register, Due
date diary and Index Register.
8 . 7 Quarterly Provision of Interest on Fixed Deposit Accounts
8.7.1
Fixed deposit for a period less than 6 months.
In this cases interest is to be provided from the date of deposits to the last day of the quarter, for
which interest is to be provided for. Interest in these cases is calculated on day basis at
contractual rate.
8.7.2 Fixed Deposit for a period 6 months and above with option to pay interest at quarterly
interval
a) When the deposit is received on any day during the quarter, for which provision is to be
made, interest is to be provided from the day of deposit to the last day of the quarter on
day basis at contractual rate.
b) In case of all other FD under this category, interest provision is to be made for one quarter
only, because interest till the last quarter must have been credited to the depositors
account.
8.7.3 Fixed Deposits for a period 6 months and above with option to pay interest at monthly
interval
a) When the deposit is received on any day during the last month of the quarter, for which
provision is to be made, interest is to be provided from the day of deposit to the last day
of the month on day basis at contractual rate (discounted)
b) In case of all other FD under this category, interest provision is to be made for one month
only at contractual rate (discounted), because interest till the last month must have been
credited to the depositors account.
8 . 7 . 4 Passing of Vouchers
For the purpose of provision, the following vouchers are to be passed
Debit
: Intt. Paid (FD)
Credit
: Intt. Accrued & Payable (FD)
On the next working day, it is to be reversed as follows :

Debit
: Intt. Accrued & Payable (FD)
Credit
: Intt. Paid (FD)
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9 . KUBER YOJNA AND DEPOSIT CERTIFICATE

9 . 1 General Guidelines
a) The minimum amount of deposit is Rs. 1000/- for Kuber Yojna Accounts.
NB : It is desirable to accept amount of deposit in KY account in multiple of Rs.100/-but in
exceptional circumstances KY receipts can be issued for odd sums also.
b) The maturity value of Deposit Certificate Accounts should be Rs. 1000/- at minimum or
multiple thereof above that
c) The minimum period of deposit is 6 months.
d) The maximum period of deposit is 120 months.
NB : However, under the order of court/tribunal the maximum period of deposit may be
extended beyond 120 months.
e) Interest is compounded under the schemes at quarterly intervals.
f) The total amount of interest is paid at maturity.
g) Both the head of accounts are known as Cumulative Fixed Deposit (CFD) Accounts.
9 . 2 Determining the maturity value under Kuber Yojna Scheme
The master chart is to be followed to arrive at the figure.
Example : A sum of Rs. 10,000/- was deposited on 10/7/2000 for 36 months at an interest rate of 10%
p.a. The due date is 10/07/2004. As per Master Chart, a deposit of Rs. 100/-earns an interest amount of
Rs. 34.4889 at 10% rate after 36 months.
For Rs. 10,000/- the interest amount will be Rs. 3448.89 = Rs. 3449.00 So, the
maturity value = Rs. 10,000/- + Rs. 3449/- = Rs. 13,449/9 . 3 Determining the Face Value (Initial Deposit of Deposit Certificate)
Example : A depositor approached Bank on 10/07/2000 to deposit certain amount for 36 months, so
that he would get Rs. 10,000/- at maturity. The rate of interest prevailing on that day for a period of 36
months was 10% p.a.
As per Master, Chart, a deposit of Rs. 100/- will earn an interest of Rs. 34.4889 after 36 months at 10%
rate. Thus, the maturity value will be Rs. 100/- + Rs. 34.4889 = Rs. 134.4889
Putting it in otherway :
Rs. 134.4889 is the maturity value for
Rs.
100.00
Re. 1 is the maturity value for
Rs.
100.00
Rs
134.4889
= Rs.
7435.56
Rs. 10,000 is the maturity value for

100 x 10,000
134.4889
i.e. Rs. 7436
It means, he has to deposit Rs. 7436/- to get Rs. 10,000/- after 36 months at 10% rate. Thus, the face
value of Deposit Certificate will be Rs. 7436.00.
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UCO BANK
9 . 4 Maintenance of Books
9.4.1
At the time of opening of a new account under Kuber Yojna or Deposit Certificate Scheme,
all the deposits about the depositor and the deposits viz. Name, address, telephone number, other
term deposits held at the branch, SB/Current Account Number and amount of deposit, rte of
interest, period of deposit, date of maturity etc. are to be mentioned in Register-cum-Ledger
(RCL).
9.4.2
Each folio of the RCL is to be used for one deposit account only.
9.4.3
The amount of deposit is to be entered in the RCL folio under authentication of concerned
supervisory staff, who will also cancel the credit voucher simultaneously.
9.4.4
The name of the depositor is to be entered in Master Index Register as per the 1st letter of
first name of the depositor.

9.4.5
Entry shall also be made in Account Opening and Closing Register before entering in RCL
in order to get the Account numbers for the deposit.
9 . 5 Quarterly Provision of Interest

9.5.1
Provision of interest shall be calculated at the end of each quarter i.e. on 30th June, 30th
September, 31st December and 31st March every financial year.

9.5.2 Interest for a broken period of a quarter is to be
calculated on day basis e.g.
A KY deposit of Rs. 10,000/- was received on 10th
April 2003. The rate of interest
applicable was 6% p.a. The deposit remained with the bank for 82 days till 30/6/2003. Interest
accrued till 30/06/2003.
1000 x 6 x 82
=
= Rs. 134.79
100 x 365
= Rs. 135/9.5.3 Thereafter, at the end of subsequent full quarter, interest is to be calculated by the help of Master
Chart.
e.g. Amount held inclusive of interest at the end of 30/06/2003 = Rs. 10,000 + Interest Accrued
Rs. 135/- = Rs. 10,135/For 3 months @6% p.a. for a deposit of Rs. 100/-, interest accrues Rs. 1.50 (See Master chart)
Thus, for Rs. 10,135/-, Interest shall accrue
= 1.50 x 10,135
=
Rs. 152/100
It means, interest for the above deposit shall be provided for on 30/09/2003 = Rs. 152
+ Rs. 135 = Rs. 287/Interest provision on 31/12/2003
At the end of 30/09/2003, the total amount inclusive of interest in the above account would be
Rs. 10,000/- + Rs. 287/- = Rs. 10,287/MANUAL OF INSTRUCTIONS VOL. 4 (DEPOSITS) PART-I
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UCO BANK
Additional interest that will accrue for the quarter
= 1.50 x 10,287 = Rs. 154/-
100
Total amount of interest to be provided for on 31/12//2003 = Rs. 135/- + Rs. 152/- + Rs. 154/- =
Rs. 441/Interest provision on 31/03/2004

At the end of 31/12/2003 the total amount inclusive of interest in the above account would be
Rs. 10,000 + Rs. 441 = Rs. 10,441/Addl. interest that will accrue for the quarter
=
Rs. 10,441 x 1.50 = Rs. 157/100

Total amount of interest to be provided for on 31/03/2004 = Rs. 135 + Rs. 152 + Rs. 154 + Rs.
157 = Rs. 598.

9.5.4
The provision amount may be written in Balance book or in a separate provision register.
9 . 6 Crediting interest to the account

On 31st March every year, the interest amount calculated as above shall be credit to the amount in
RCL.
NB : Income Tax, wherever applicable as per TDS rule of Income Tax Act, 1961 is to be deducted
from the account at this stage.
For details, please refer the Chapter, Tax Deduction at Source on interest on Time Deposit.
9 . 7 Vouching for Interest Provision

9.7.1
At the end of each quarter except 31st March the following voucher will be passed for
interest provision.
Dr.
CFD (Interest) Account :
For the entire balance outstanding in the Head of

Account
Cr.
Intt. Paid (CFD) Account :
For the like amount
After passing the two Transfer Voucher the balance in CFD (Interest) Account will be reduced
to NIL.
Thereafter, the total amount of interest, that will be provided for all the CFD accounts at the end
of the quarter is to be found out and the undernoted vouchers
are to be passed.
Dr.
Intt. Paid (CFD)
: For the entire amount of provision
Cr.
CFD Intt. Account
: For the like amount
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UCO BANK
9 . 7 . 2 Passing of voucher on 31st March every year

Step-I
Dr.
CFD (Intt.) Account
Cr. Intt. Paid (CFD) Account

So that the balance in CFD (Interest) Account will be reduced to NIL.
Step-II
Dr.
Intt. Paid (CFD) Account
For the entire amount of interest accrued till 31st March

Cr.
Individual CFD Account in RCL
Thus, on 31st March every year, no amount will be held in CFD (Interest) Account.
NB : CFD (Interest) Account is a new Head of Account appeared in GLB w.e.f. 31/03/2002, in
Liabilities side under sub-group Other Liabilities.
9 . 8 Payment of CFD Account

9 . 8 . 1 Payment of CFD accounts at maturity
Example-I : A K Y account with initial deposit of Rs. 10,000/- was opened on 10/04/2002 for
36 months. Rate of Interest applicable was 8.25% p.a. Maturity value worked out to Rs.
12,776/-. Date of maturity is 10/04/2005. The extract of the account as would appear in RCL is
as follows :
Date
Particulars
10/04/2002
By Cash
31/03/2003
Dr.
Cr.
Balance
10,000
10,000
By Intt.
835
10,835
31/03/2004
By Intt.
922
11,757
31/03/2005
By Intt.
1,000
12,757
On the date of payment, say on 10/04/2005,
the balance amount
of interest
i.e. 12,776/- 12,757/- = Rs. 19/- is to be paid.

The following vouchers are to be paid
Dr.
Intt. Paid (CFD)
Rs.
19/-
Cr.
Depositors CFD Account
Rs.
19/-
Dr.
Depositors CFD Account
Rs. 12,776/-
Cr.
Depositors SB/Current Account
Rs. 12,776/-
Or Managers Cheque Account

Example-II : The depositor deposited Rs. 10,000/- on 10/03/2003 in KY account for a period of
24 months @6.25% p.a. maturity value being Rs. 11,321/- and date of maturity is 10/03/2005.
The extract of the account in RCL would be as under :
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UCO BANK
Date
Particulars
10/03/2003
By Tr.
31/032003
31/03/2004
Dr.
Cr.
Balance
10,000
10,000
By Intt.
38
10,038
By Intt.
642
10,680
Interest accrued till 31/12/2004 amounting to Rs. 508/- must have been credited to CFD Interest
Account. The balance amount of interest i.e. from 01/01/2005 to 09/03/2005, amounting to Rs.
133/- is to be paid at maturity. On the date of payment, say on 10/03/2005, the following
vouchers are to be passed.
Stage-I :
Dr.
CFD Interest Account
Rs.
508/-
(The amount of provision is to be confirmed from

Provision Register)
Dr.
Intt. Paid (CFD) Account
Rs.
133/-
Cr.
Depositors CFD account in RCL
Rs.
641/-
Stage-II :
Dr.
Depositors CFD account
Rs. 11,321/-
Cr.
Depositors SB/Current Account
Rs. 11,321/-
Or Managers Cheque Account
Procedure :
1) At maturity, the depositor shall have to deposit the KY receipt/Deposit Certificate duly
discharged on the reverse by the depositor/all the depositors.
2) The Officer concerned shall have to verify the signature(s) of the depositor as per
the specimen signature recorded in the Banks specimen signature card at the time of opening
the account.
3) The Debit voucher, debitting CFD Interest account and Intt. Paid (CFD) Account are to be
signed by the Officer-in-charge of the department and are to be countersigned by the
Manager/Sr. Manager of the Branch.
4) All the vouchers, crediting Depositors CFD account is to be entered in the concerned folio of
RCL and be duly released.
5) After making payment, the balance in the account will be reduced to NIL.
6) A rubber stamp reading Account Closed is to be affixed at the bottom of last transaction with
signature of Officer concerned with due mention of date of closure on the folio.
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UCO BANK
7) A total of Debit and Credit column is to be made at the end showing the sum total of both
tallies.
8) At the time of closure of account, necessary entry is to be made in Account Opening & Closure
Register.
9 . 8 . 2 Premature withdrawal or Foreclosure of CFD Account
The depositors are at liberty to request for closing their CFD Accounts before the date of
maturity under exigencies. However, premature withdrawal of large term deposits (Rupees one
crore and above) has the following restrictions.
Premature withdrawal of large term deposits
received as
fresh
from 18/05/2001 onwards or received as renewal of existing large term

from 14/05/2001 onwards will not be allowed
under any
except for similar deposits held by individuals and
HUF.
deposit
deposits
circumstances,
Procedure :
The depositor(s) shall submit the Bank, the discharged KY Receipt/Deposit Certificate (to be
discharged by the signature of depositor(s) on the reverse of the receipt/ certificate with narration
Received Payment by Fore-closure) along with an application requesting for premature withdrawal
citing the convincing reason for such requests. Their signatures on the application as well as on the
receipt/certificate are to be verified by the Officer concerned with that of Specimen Signature Card
available at Banks record. In consideration of the request the Manager of the branch may accord his
permission for such premature closure.
General Guidelines :
a) The rate of interest payable will be the applicable rate of interest as was prevailing at the time of
depositing the amount for the period it actually remained with the Bank subject to penalty clause
as under :
Penalty
Less than Rs. 15 lacs
No penalty
Rs. 15 lacs & upto Rs. 1 crore
1% p.a.
Above Rs. 1 crore
Applicable card rate for non-incentive

deposits for the period of the deposit kept
with the Bank will be paid.
Illustration :
A depositor deposited a sum of Rs. 1,00,000/- on 02.02.2004 for 60 months. The due date is
02.02.2009 and rate of interest applicable is 5.75% per annum. The said depositor requested the branch
to foreclose the account on 02.01.2007. Thus, the deposit actually
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UCO BANK
remained with the branch for 339 days i.e. less than one year. The rate of interest as was prevailing for
a term deposit of 180 days to 364 days was 6.75% p.a. on 10/04/2002. So the applicable rate of interest
in the case of foreclose will be 6.75% p.a. (no penalty).
b) If the deposit has actually remained in the Bank for a minimum period of six months, then it
fulfils the criterion of Kuber Yojna. In that case, the interest on deposit will be compounded on
quarterly rests.
If the deposit has actually remained with the bank for a period less than 6 months the interest
thereon shall be paid on day basis at simple rate.
In the above example, the deposit has remained for more than 3 quarters,. It is completed 3
quarters on 09/01/2003 and remained with Bank 64 days thereafter.
As per master chart, after 9 months, an interest of Rs. 5.1484 shall accrue for a deposit of Rs.
100/- @ 6.75% p.a. So, the deposit of Rs. 1,00,000/- will fetch an interest of Rs. 5148.40, say
Rs. 5148/-. So, the maturity value will come to Rs. 1,05,148/- at the end of 9 months.
For balance 64 days, the interest will be :
1,05,148 x 6.75 x 64
36500
= Rs. 1244/-
So, the total amount payable = Rs. 1,05,148 + Rs. 1244 = Rs. 1,06,392.00
c) Vouching
In case of above example, the concerned CFD account would show a credit balance of Rs.
1,00,000/- (entry dated 10/04/2002)
The following interest amount must have been credited to CFD Interest account in respect of the
above account in the process of quarterly provision of interest.
Date of credit
Duration of Interest Paid
Amount of Interest
30/06/2002
10/04/2002 to 30/06/2002 (82 days)
1853/-
30/09/2002
01/07/2002 to 30/9/2002 (one quarter)
2101/-
31/12/2002
01/10/2002 to 31/12/2002 (one quarter)
2144/-
Total
6098/-
Instead, at the time of premature closure,
the depositor
shall receive an amount of
Rs. 6392/- as interest on 15/03/2003.

The following vouchers are to be passed :
Dr.
CFD Account (KY)
Rs. 1,00,000/-
Dr.
Rs.
Cr.
Depositors Account
Managers Cheque A/c.
Rs. 1,06,392/-
6,392/-
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UCO BANK
In some other cases, the balance held in CFD Account may be more than the amount to be paid due to
premature closure.
A hypothetical account is placed hereunder :
10/04/2000 Initial deposit
Rs. 1,00,000/-
Period of deposit
60 months
Rate of Interest
10% p.a.
The CFD account in RCL will have the following entries.

Date
Particulars
10/04/2000
By Tr.
31/03/2002
By
Debit
Intt. accrued up to 31/03/2002
Credit
Balance
1,00,000
1,00,000
19,059
1,19,059
The depositor approached for premature payment on 10/04/2002. Rate of interest applicable is 8% p.a.
(say) The amount payable Rs. 1,17,166/-.
In this case, the following vouchers are to be passed :
Dr. CFD Account (KY)
Rs. 1,19,059/-
Cr.
Depositors Account
Rs. 1,17,166/-
Cr.
Rs.
1,898/-
d) Other Important Points :
The officer concerned should check the calculation of interest meticulously.
When the CFD Account is debited for the face value of the receipt (i.e. amount deposited
with Bank), the KY/DC Receipt itself will be treated as the debit voucher.
But, when the CFD Account is to be debited for an amount more than the amount
deposited, a separate debit voucher is to be prepare for the full amount, where the KY/DC
receipt will be attached as annexure.
The debit voucher and/or the KY/DC receipt shall be duly posted in the concerned CFD
account in RCL and shall be released putting a line thereon with remarks, paid on date
under initial of officer concerned.
The debit voucher debiting Interest Paid (CFD) account or CFD Interest account will be
signed by the Officer-in-charge of the department and it must be countersigned by the
Manager/Sr. Manager of the branch.
In case of foreclosure of account, the request letter of the depositor is to be attached along
with the debit CFD account voucher.
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UCO BANK
At the time of closure of account, summation of Debit and Credit columns should be
made on RCL folio to ensure that both the totals tally with each other.
At the bottom of the folio, the officer concerned should affix a rubber stamp which would
read as Account closed on dt. with signature of officer concerned.
Necessary entry must be made in Account Opened & Closed Register.
1 0 . PREMATURE EXTENSION OF FIXED DEPOSITS (FD, KY, DC)

The depositor may exercise his option to extend the period of deposit and when Bank accedes to his
request, the process is known as Premature extension of fixed deposit. The situation usually arises
when there is a hike in the rate of interest on deposit at a subsequent date.
1 0 . 1 Rules
a)
The request for premature extension is to be made before the date of maturity
of original deposit.
b) The period of extension requested for must be longer than the remaining period of original
contract.
c) The interest from the original date of deposit to the date, preceding to the date of effecting
extension is to be paid at the rate, as applicable on the date of original deposit for the relevant
period without applying the penalty of 1%.
d) No fresh fixed deposit receipt needs to be issued, rather suitable noting in bold letter and red ink
is to be made on the original receipt.
e) The new interest rate as would be applied for extended period shall not get retrospective effect
to the date of request for extension.
0 . 2 Procedure
a) The depositor(s), irrespective of special instruction like either or survivor etc. has (have) to
request for premature extension on a plain paper stating exactly the extended period requested
for.
b) The signature of the depositor(s) is to be verified with that recorded in the specimen signature
card obtained at the time of opening the account.
c)
The depositor(s) shall have to deposit the original receipt/certificate along with the request letter.
d) Permission for premature extension shall be granted by the Sr. Manager/Manager of the branch
on the application itself.
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UCO BANK
e)
After completion of all the formalities, the application is to be stapled and preserved along with
the lower portion of DT-2.
1 0 . 3 Illustrations
10.3.1 Kuber Yojna
A depositor deposited a sum of Rs. 1,00,000/- in Kuber Yojna account on 01/01/1998 for a
period of 60 months at an interest rate of 11.50% per annum. The rate of interest of term
deposits for a period of three years and above was increased to 12% per annum w.e.f.
28/12/1998. The depositor requested on 10/02/1999 to extend the KY deposit. The remaining
period of deposit is 55 months 20 days. So, he must request for a minimum period of extension,
which should be longer than 55 months 20 days i.e. at least for 56 months.
If he requests for extension for 56 months, that 56 months must run from 10/02/1999 only. In no
case, the depositor will be given the benefit of higher rate of interest retrospectively, even
though the rate of interest has been increased from 28/12/1998.
In the above case, the period of deposit that would remain with Bank shall be divided in two
parts.
a)
from
01/01/1998 to
09/02/1999
132 days
b)
from
10/02/1999 to
09/10/2003
56 months
The rate of interest for 132 days will be as prevailing on 1/10/1998 for the said period i.e. 7%
p.a. No penalty will be levied on interest rate. Thus, the amount of interest
1,00,000 x 7 x 132
= Rs. 2532/100 x 365
But, the rate of interest applicable from 10/2/1999 to 9/10/2003 will be @12% p.a.
payable up to 09/02/1999 =
The amount of interest due up to 09/02/1999, i.e. Rs. 2532/- can be paid to the depositor on
10/02/1999 or at his option, the amount can be clubbed to the principal. In such case, the
principal amount will be changed to Rs. 1,02,532/- w.e.f. 10/02/1999.
10.3.2 Certificate of Deposit
In case of Deposit certificate, usually such a request should not be entertained. But, in
exceptional circumstances, the procedure as illustrated above for Kuber Yojna will be adopted.
However, in such case, the basic feature of Deposit Certificate that the depositor receives a
round sum at maturity cannot be adhered to.
10.3.3 Fixed Deposit
In case of Fixed Deposits, the excess interest already paid is to be recovered from the depositor
at the time of extension.
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UCO BANK
Example :
Amount of deposit
Rs. 1,00,000
Period of deposit
60 months
Date of deposit
01/01/1998
Rate of Interest
11.5%
The depositor has been paid the interest for the quarter ending 31/12/1998 amounting to Rs.
2875/-. The depositor approached for premature extension of the Fixed Deposit on 10/02/1999
for a period of 56 months.
As calculated above, he is entitled to an interest amount of Rs. 2532/- from 01/10/ 1998 to
09/02/1999.
So the excess amount of intt. paid
i.e. Rs. 2875/- Rs. 2532/- = Rs. 343/- is to be recovered from the depositor at the time of
extension.
1 0 . 4 Other formalities
10.4.1Rectification on the Fixed deposit receipt/Kuber Yojna Receipt/ Deposit Certificate.
a) Due date :
Old due date is to be rounded off and new due date is to be written preferably in red ink.
b) Rate of interest :
Old interest rate is to be rounded off and new interest rate is to be written, preferably in
red ink.
c) Principal amount :
Where the extension results in change in principal amount, the old amount will be
rounded off and new amount is to be written, preferably in red ink.
d) Maturity value in case of KY/DC :
The old maturity value is to be rounded off and new maturity value is to be written,
preferably in red ink.
e) Superscription :
On the face of the fixed deposit receipt/Kuber Yojna Receipt/Deposit Certificate the
undernote words is to be written boldly in red ink.
Extended up to (Date) w.e.f. dt.
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f)
All the above additions and alterations are to be authenticated under joint signature of
Officer concerned and Manager/Senior Manager of the Branch.
10.4.2
Rectification in records
a) The changes effected to due date, rate of interest, Principal amount and maturity
value etc. are to be duly recorded in FDR Register and ledger (for Fixed Deposits), and
in RCL (for KY/DC) under authentication by the officer-in-charge and Manager/Sr.
Manager jointly.
b) Due mention of premature extension is to be made in remarks column of respective
register and ledgers.
c) Necessary changes are to be effected in Interest Payment Register (monthly/ quarterly)
and Standing Instruction Register also.
1 1 . ISSUANCE OF DUPLICATE TERM DEPOSIT RECEIPTS (FD/KY/DC)

11.1 Branches are authorised to issue duplicate term deposit receipt in lieu of original lost.
11.2 When a depositor reports loss of a Term Deposit Receipt a note should be made in the relative Term
Deposit Register and Ledger. Duplicate Term Deposit Receipt should not be issued merely on demand
by the depositor. He should be asked to make diligent search
to find it
it may be
out. In case, the receipt could not be retrieved even after a thorough search,
considered to issue a duplicate receipt in lieu of the original lost.
11.3 A letter should be obtained from depositor advising the branch about loss of term deposit receipt and
requesting for issuing a duplicate thereof. In case of joint account, the letter should be signed by all
joint depositors irrespective of special instructions like either or survivor etc. The signature of
depositor(s) on the letter should be verified by the officer concerned.
11.4 It should first of all be ensured that no lien is outstanding against this Term Deposit Receipt.
11.5. The matter should be referred to the Manager/Sr. Manager for his permission to issue duplicate Term
Deposit Receipt.
Before giving permission the Manager should :
a) make careful enquiries from the depositor(s) concerned in regard to the circumstances under
which the Receipt was lost.
b) On being fully satisfied, should give the permission to issue duplicate receipts.
Note : Though a term deposit receipt is a Not Negotiable and Not transferable instrument.
Managers are expected to exercise due care in issuance of duplicate
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UCO BANK
receipts. Careful enquiries as to lien etc. should be made when a branch is requested to issue
a duplicate receipt.
If the Manager is satisfied that the receipt is irretrievably lost and the banks interest is otherwise safe
in issuing a duplicate receipt, he may authorise to issue a duplicate receipt by writing on the letter
Duplicate Fixed Deposit/Kuber Yojna Receipt/Deposit Certificate may be issued.
11.6 An indemnity bond as per specimen given below should be obtained duly executed by depositor(s).
No surety may be called for.
Proforma of Indemnity Bond to be obtained from the

depositor(s) for issuance of a duplicate
Term Deposit Receipt
To
The Manager
UCO Bank
Branch
Date :
Dear Sir,
Re : Term Deposit Receipt No. dated for Rs.
in favour of
due on
1) I/we was/were until recently in possession of the abovementioned Term Deposit Receipt issued by you
in my/our favour.
2) I/we regret to inform you that the said deposit receipt has been lost and I/we have not been able to
trace the same in spite of a diligent search for the same.
3) I/we state that I/we have not created any right or interest or lien against the said receipt or in the debt
represented by it, in favour of any person whomsoever.
4) I/we further state that the said Term Deposit has not been seized or taken possession of or delivered to
any Government authorities or a Receiver.
5)
I/we have requested you to issue a duplicate Term Deposit Receipt in lieu of the
above-mentioned receipt which has been lost and to treat the original Term Deposit
Receipt as invalid and cancelled. You have agreed to accede to my/our above request in
good faith on the strength of my/our above representation and assurances and on my/our submitting to
you indemnity, undertaking and authority as herein appearing.
6) In consideration of the promises, I/we so as to bind myself/ourselves and my/our

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heirs executors, administrators, assigns, estates and effects hereby agree and undertake with you, your
successors and assigns as under :
a) to keep you safe and indemnified from time to time and at all times from and against all claims,
demands, actions, proceedings, loss, damages, liability, costs, charges and expenses whatsoever,
which may be made or brought or commenced against you or to be paid, sustained, suffered or
incurred by you howsoever as consequence directly or indirectly of your
issuing to me/us duplicate term deposit receipt as aforesaid.
treating the original of the above-mentioned term deposit receipt as good as invalid and
cancelled.
making payment on maturity or before maturity of the relative deposits and allowing
credit or quasi credit facilities against the duplicate term deposit receipt.
b) to give you full and final discharge and acquittal as against me/us and assigns or holders of the
original term deposit receipt, if any, on your payment of the deposit against the duplicate Term
deposit receipt treating the payment as made against the original Term Deposit Receipt itself.
c) to pay to you and make good on demand by you the amount of such loss, damage, liability, costs
charges and expenses together with the interest at PLR rate of the Bank from the date of
payment by you until reimbursement by me/us.
d) to return to you the original Term Deposit Receipt as aforesaid should the same be found by
me/us or again come into my/our possession, at any time hereafter.
Yours faithfully,
1)
2)
Name
Name
Address
Address
Signature
Signature
11.7 The indemnity bond and all other letters should be preserved carefully in a file in the Branch.
11.8 When a duplicate Term Deposit Receipt is issued, it must be identical with the original
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UCO BANK
Receipt in all respects. The date, amount, the name of depositor(s) rate of interest, period of deposit,
due date, special instruction regarding operation in case of joint accounts and serial number (other than
printed number) should be same in the duplicate Term Deposit Receipt.
11.9 A remark reading as under in bold letters and in red ink should be made at the top on the face of
duplicate Fixed Deposit Receipt.
Duplicate issued in lieu of original FDR No. Dated Lost .
11.10 In the Term Deposit Register and Ledger and also Register-cum-Ledger, meant for CFD Account the
number of duplicate receipt should be noted with the words Duplicate Term
Deposits Receipt No. issued on date .
( Printed Number )
11.11At the time of making payment of duplicate receipt, a stamped receipt should be taken from the
depositor(s) on the reverse of the duplicate receipt with the following remarks :
Received payment in full against this receipt which has been issued at my/our request in lieu of
original receipt No. dated lost by me/us.
1 2 . TRANSFER OF ACCOUNT
12.1 General Branches are authorised to transfer a Term Deposit Account from one branch to another
branch subject to the following provisions :
a) Term Deposit should not be transferred from one branch to another in the same
city/town/municipal areas as it can lead to unhealthy competition among such branches. But,
request for transfer of a Term Deposit account from one branch to another may be entertained
when both the branches are located at different places.
b) Such inter-branch transfer should be effected only where the depositor is in genuine need (for
example, due to change in his place of residence or change of place of work etc.)
c) Inter-branch transfer should be effected as far as possible once only for a particular deposit.
Only in exceptional cases transfers may be effected more than once for a particular deposit.
d) In case an advance has been granted to a depositor against the deposit, then the transfer of the
Term deposit may be permitted only sparingly when there is a genuine need and the
depositor/party adjusts in full the advance taken along with interest due thereon.
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1 2 . 2 Procedure for transfer of accounts (FD/KY/DC)

12.2.1
When the depositor approaches transferee branch
a) A letter of request is to be obtained in duplicate signed by all the depositors

addressed to the transferor branch. The party should be asked to deposit the term deposit
receipt along with the letter. A specimen signature card with operational instructions
should also be obtained by the transferee branch.
b) The letter with the Term Deposit Receipt and the specimen signature card should be sent
to the transferor branch by Registered Post with a forwarding letter.
12.2.2
When the customer approaches the transferor branch
The customer has to give a letter of request along with the term deposit receipt to the transferor
branch. A new set of AOF in Form DT-2 along with specimen signature card with operational
instruction should be taken.
12.2.3 What is to be done at the Transferor Branch on Receipt of a Request of Transfer
(whether directly or through transferee branch)
a) the officer concerned should verify the signature(s) of the depositor(s) on the letter of
request and put his initial within the Signature Verified Stamp.
b) The signature on the new set of specimen signature card and operational instructions
should also be checked by the officer concerned. Then, he should put his signature on the
specimen card for having verified the same with the original.
c) On the face of the term deposit receipt, the words, Transferred to
Branch on dt. should be marked in red ink and signed by two officers.
d) The interest for the full month in which transfer is taking place will be borne by the
transferor branch irrespective of the date of transfer. Such interest should be properly
calculated and the following entire should be passed.
i)
Debit : Fixed & Time Deposit A/c/Kuber Yojna A/c/Deposit Certificate A/c
ii) Debit : CFD Interest A/c (for the interest provided up to the end of previous
quarter in case of CFD A/c)
iii) Debit : Interest paid (CFD) A/c (for the rest amount of interest for CFD
accounts
Or
Debit
: Intt. Paid (other than CFD) A/c. in case of Fixed Deposit A/c.
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UCO BANK
iv) Credit : Head Office Account for the amount (i+ii+iii)

e) In case of Fixed Deposit Register the date of transfer should be marked under the column
Date of Payment with a remark Transferred to
Branch.
f) In the Term Deposit Ledger, the last entry should be made in the following form : To
amount transferred to branch.
The account should be summated and closed and following stamp should be impressed at
the end of the page under the signature of officer and clerk concerned :
Account closed ..................... by
Transferred to ........................ Branch
On .............................................
Asst. Manager
Clerk
g) A note about transfer of account should be made under signature of officer concerned in
Account Opened and Closed Register, Due Date Diary, Specimen Signature Card.
The original specimen signature card should be kept in a separate file and the new set
should be sent to the transferee branch after verification and noting on the same as
follows :
Transferred to Branch
h) A credit Advice in form G-4 or G-13 for the amount so transferred to transferee branch
should be prepared.
i)
IBCN for the above amount should be prepared and sent by Registered Post to transferee
Branch along with
Duplicate set of AOF (DT-2)
Fresh specimen signature card
Term Deposit Receipt(s)
Credit Advice as mentioned in (h) above
A statement of account in case it is a CFD Account
A statement of interest already paid on the deposit should also be sent to the
transferee branch, in case it is a Fixed Deposit Account.
12.2.4What is to be done at the Transferee Branch (on receipt of credit advice, IBCN etc.)
a) The documents received along with the branch cheque should be scrutinised by officer
concerned.
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b) The following entries should be passed :

Debit : Head Office account
Credit : Fixed deposit (for Principal amount only)/Kuber Yojna/Deposit Certificate
Account (for the last amount shown in RCL of Transferor branch)
Credit : CFD Interest Account (for KY/DC)
c) An entry should be made in account opened and Closed Register and this new Sl. No. is
to be written on the Receipt after rounding off the old Sl. No. of transfer branch.
d) In the term deposit register and ledge entries should be made and a note should be made
in the remarks column of the register and at the top of the ledger folio as follows :
Transferred from branch on
and such a note should be signed by the officer of the transferee branch.
e) A careful note should be made of interest already paid at the transferor branch, in the
remark column. This will be applicable in those cases where periodical payment of
interest has been made.
f) An entry should be made in Due Date Diary.
g) The rubber stamp bearing the name of the transferee branch should be affixed on the top
of the receipt after rounding off the name of the transferor branch.
h) The original term deposit with remarks Transfer Received on
should be handed over to the depositor against proper identification.
1 3 . RENEWAL OF TERM DEPOSITS (FD/KY/DC)

On the date, instead of asking for payment of Term deposit, the depositor(s) may like to continue to
keep the amount with the Bank in shape of term deposit for a further period. Such a transaction is
known as renewal of term deposit.
1 3 . 1 Rules
a) Renewal of term deposit is made on the due date at the request of the depositor or all the
depositors (in case of joint accounts irrespective of special instruction like either or survivor
etc.)
b) Renewal can be made for the entire maturity value or for the principal amount only or even for a
mount less than the principal amount, originally deposited, as per the option of the depositor.
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UCO BANK
c) The depositor(s) has to submit a plain paper application for such renewal as per the proforma
furnished hereunder. The letter need not be submitted in person. Even, the depositor(s) can send
the letter through a messenger.
d) The application for renewal must be accompanied by the matured Term Deposit Receipt.
e) No term deposit can be renewed for less than 15 days (i.e. the minimum period for which a term
deposit account can be opened).
Proforma of Letter requesting renewal of Term Deposit

Date :
The Manager
UCO Bank
Branch
Sir,
Sub : Renewal of my FD/KY/DC No. date
maturing on dt.
Kindly, renew the above term deposit of mine/ours, held at your branch for a further period of
days/months for the full maturity value/for the principal amount only/for Rs.
(Rupees ) only. I/We am/ are
enclosing the term deposit receipt for doing the needful.
Please
credit
the
interest
amount/balance
amount
to
my/our
SB/Current
account
No.
Yours faithfully,
Depositor(s)
Note : Branches should keep sufficient stock of above application forms for the use of the depositors.
No depositor should be put to inconvenience due to want of application form.
1 3 . 2 Procedure :
a) On receipt of the application and the matured term deposit receipt, the officer-in-charge shall
verify the signature on the application with that recorded on the original specimen signature
card.
PART-I
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UCO BANK
b) Vouching
For KY/DC
Dr. the amount held in CFD account in RCL Dr.
CFD Intt. Account
(Summation of both the above debit amounts should tally with the maturity value of the
receipts)
Cr. KY/FD Account (when the entire maturity value is renewed) Or,
alternately
Cr. KY/DC/FD Account (for the amount the depositor opts to renew) Cr.
Depositors SB/Current account (for the balance amount)
For FD Account (original period of deposit is less than 6 months)
Dr. FD Account
Dr. Intt. Paid (other than CFD) Account FD
(for the amount of interest payable at maturity)
Cr. FD Account (for the full amount of maturity value) Or
alternately
Cr. FD Account (for the amount the depositor opts to renew) Cr.
Depositors SB/Current account (for the balance amount)
For FD Account (where interest is payable at monthly/quarterly intervals)
As a first step, the balance amount of interest payable on original term is to be paid at maturity
leaving the principal amount intact in the FD account.
Dr. FD Account (for the principal amount of original term deposit) Cr. FD
Account (for the amount the depositor opts to renew)
Cr. Depositors SB/Current Account (for the balance amount)
Note : The above Debit and Credit vouchers are to be prepared in usual credit and debit voucher
(G-11 and G-12).
c) Incorporation in the existing Fixed Deposit Receipt
With introduction of new security printing for Kuber Yojna Receipt and Fixed Deposit Receipt,
no fresh receipt needs to be issued in case of renewal. Each original receipt has provision of
being renewed for ten times.
All the particulars like (i) date of renewal (ii) date from which it takes effect (iii) amount of
renewal (iv) rate of interest (v) maturity value and (vi) due date etc. are to be mentioned on the
reverse of the receipt, which is to be authenticated by the officers concerned.
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d) Issuance of Fresh Receipt :
Since our Deposit Certificate has not undergone any change, it is required to issue a fresh
Deposit Certificate in case of renewal.
Fresh receipts are also required to be issued when the original receipt was KY and the
depositor wishes to get a Fixed Deposit Receipt by way of renewal or vice versa.
Fresh receipts is also to be issued in case the renewal is done for 11th time.
e) Entry in Register/Ledger
So far as the entry of renewed deposit account in Banks Account Opening Register/Fixed
Deposit Register/Register-cum-Ledger of CFD Accounts is concerned, it is to be done with all
meticulosity as required for a fresh deposit.
Entry and marking the date of payment etc. should be made in the respective ledger, register and
account opening and closing register as required for regular closure of account.
1 4 . RENEWAL OF OVERDUE TERM DEPOSITS (FD/KY/DC)

When a term deposit was neither paid to the depositor nor renewed for a fresh term, the deposit
becomes overdue term deposit. The depositor may approach the Bank to renew the deposit after the
due date. In such a case, the overdue deposit can be renewed subject to following terms and
conditions.
14.1 In case the overdue period does not exceed 14 days on the date of request for renewal the interest
rate for the renewed period will be the rate, prevailing on the date of maturity and the renewed deposit
shall take effect from the date of maturity of original Term Deposit.
14.2 Where overdue period exceeds 14 days, renewal will be permitted if the depositor agrees to renew
for a further period of at least equal to the period, the deposit remains overdue.
The renewed term deposit in above case will take effect from the date of renewal i.e. the date on which
the depositor approaches the Bank for renewal.
The rate of interest on the renewed deposit will be as per the rate prevailing on the date of renewal not
from the date of maturity.
The interest for the overdue period will be the interest rate prevailing on the date of maturity or on the
date of renewal whichever is less.
14.3 Where overdue period exceeds 14 days and depositor does not agree to renew the same
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UCO BANK
for a further period equal to the period of overdue, interest may be paid at Savings Bank rate for the
overdue period. In such case, interest will be paid for completed months only and fraction of a month
will be ignored.
1 5 . INTIMATION OF DUE DATE OF TERM DEPOSIT IN ADVANCE TO THE DEPOSITOR
Branches are to maintain Due Date Diary meticulously for all term deposit accounts Letter of
intimation (D-27) is to be sent to the depositor, whose term deposit is due for maturity at least 10 days
before the due date.
As the revised guidelines of Renewal of term deposits have an adverse effect on the interest of
depositor if he fails to request for renewal within 14 days after due date, the importance of intimation
of due date to depositor has become manifold. So, branches must adhere to the above stipulation
without fail.
Proforma of D-27
UCO BANK
UCO BANK
BRANCH
BRANCH
Date 200
Date 200
Dear Sir/Madam,
I am sending herewith my Fixed Deposit receipt

No. for Rs.
Dear Sir/Madam,
R e : Fixed Deposit Receipt No.
for Rs.
We have to inform you that the above Fixed
Deposit falls due for payment on
We shall be glad to have your instructions to renew the
deposit. Kindly send us the Deposit Receipt duly
discharged, along with the attached letter.
Thanking you for your patronage and assur-ing you
falling due for payment on

. Please renew the Deposit for a
further period of months at your
prevailing rate of interest.
Monthly/Quarterly Interest
Payable to S.B. A/c. No.
as per Partys Instruction
of our best services.

We remain
Yours faithfully,
Assistant Manager
Yours faithfully,
Signature of Depositor(s)
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UCO BANK
1 6 . CASH PAYMENT & INCOME TAX (2nd AMENDMENT) ACT, 1981

16.1 Any cash payment against a term deposit can be made only as per guidelines contained herein below
based on Income Tax (Second Amendment) Act, 1981, Section 269T.
No company (including a banking company), co-operative society or firm should repay to any person
any deposit otherwise than by an account payee cheque or account payee bank draft or where the
amount of such payment is Rs. 20,000/- or more.
Provided that where the repayment is by a banking company or co-operative bank, such repayment
may also be made by crediting the amount of such deposit to the account (if any) with such company
or bank of the person to whom such deposit has to be repaid.
All deposits which are repayable after a period where the amount of deposit or the aggregate amount
of deposit together with interest is Rs. 20,000/- or more, then the repayment of such deposits has to be
made by account payee cheque or account payee bank draft. Such repayments could also be made by
crediting the amount of such deposit to the account of the person to whom such deposit has to be
repaid.
16.2 The guidelines received from Indian Banks Association on the above cited Income Tax provisions
are furnished below :
In order to know whether the repayment of a particular deposit attracts the provisions of the Act
or not, it would be necessary to find out the aggregate amount of all term deposits held in the
name of the depositor and the amount to be repaid with interest at maturity or otherwise. Where
the aggregate of deposits of a party or the aggregate of the deposit and the interest to be paid
thereon is Rs. 20,000/- or more, the repayment will have to be effected in the modes prescribed
under the ACT.
Payment of periodical interest could be effected in cash.
Where there is a loan against a deposit, while effecting repayment of the deposit on maturity or
otherwise, the loan transaction is to be ignored. In other words, the gross amount of deposit and
interest repaid should be considered (along with other deposit, as per first paragraph above) and
not the balance or net amount to be repaid after adjusting the loan liability.
Renewal of a deposit does not amount to repayment. Deposits could be renewed by splitting into
smaller deposits in the name(s) appearing in the original deposit receipt. No undue benefit,
however, would be available to the depositor since even after splitting each of the deposits could
be repaid only in the manner provided in the Act when aggregate of all such deposits or the
aggregate of the deposits and the interest to be paid thereon is Rs. 20,000/- or more.
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Splitting of deposits other than in the name(s) of original depositor(s) should not be permitted
without effecting repayment of the deposit(s) in either of the modes prescribed in the Act to the
original depositor(s).
In respect of the deposit held in the joint names payment could be effected to any one or more of
the depositors as per the terms of the original contract between the bank and the depositor(s) in
accordance with the directions of all the joint depositors.
16.3 Therefore Branches should

a) obtain details of earlier deposits from the depositors while accepting fresh deposits
b) Maintain a record of all term deposits depositor-wise (i.e. through maintaining FD Ledger and
Index Register)
c) While paying any deposit in cash, obtain a letter as per the following proforma.
To
The Manager
UCO Bank
Branch
Dear Sir,
Sub : Payment of my/our Term Deposit No. dated for Rs.
on maturity/before maturity.
1) I/we request you to pay the amount of the above term deposit in cash.
2)
3)
I/we declare that I/we do not have any other term deposit/s with you in my own name or jointly with
others.
I/we have kept term deposits with you. I/we confirm that the aggregate amount of such
deposits or the aggregate amount

less than Rs. 20,000/-.
of deposits held by me/us with interest thereon is
Yours faithfully,
Date :
H
Signature of Depositor(s)
Strike out the inapplicable.
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UCO BANK
1 6 . 4 ILLUSTRATIONS
Illustration-1 : A depositor has more than one term deposit (amount of each deposit at maturity being
less than Rs. 20,000/-) and all these deposits are maturity on the same date/different dates. Even
though the amount of each deposit is less than Rs. 20,000/- and they mature for payment on the same
date or different date, the aggregate of all the term deposits should be taken into account after deciding
whether the said deposits attract the provisions of the IT (2nd Amendment) Act.
In cases where the aggregate of deposits together with interest payable, if any, is Rs. 20,000/- or more
it would be required to be paid by Account Payee cheque or Bank draft or by crediting the relative
amount in the party SB/Current account (and not in cash).
Illustration-2 : A Kuber Yojna deposit of Rs.10,000/- is kept to a person of 7 years. The aggregate of
the principal and the interest accrued thereon to be paid on maturity exceeds Rs. 20,000/-. Such a
deposit could be paid in any of the modes specified in the I.T. (2nd amendment) act and not in cash. If
the periodical interest however, had been paid quarterly/half yearly as and when due or at monthly
rests (at discounted value) and the aggregate amount of unpaid accrued interest together with the
amount of deposit on repayment is less than Rs. 20,000/-, the aggregate of the deposits of the
depositor(s) including this deposit and the unpaid interest may be seen and if such aggregate is also
less than Rs. 20,000/- then only the amount may be paid in cash.
Illustration-3 : A Fixed Deposit of Rs.20,000/- is kept against which a loan of Rs.15,000/-has been
granted. Suppose on the date of maturity, the loan amount due is Rs. 16,245/-. Though the net amount
to be paid to the depositor may be less than Rs. 20,000/- the net amount may not be paid in cash as per
the Act.
Illustration-4 : A Fixed deposit of Rs. 5,000/- is kept against which a loan of Rs. 3,500/-has been
granted. Suppose on maturity, the net amount is to be paid to the party. If the loan amount due with
interest is Rs. 3,600/- and if the amount of accumulated unpaid interest is Rs. 1,725/- what we have to
do is to ignore the loan transaction, calculate the amount payable on maturity which is Rs. 6,725/- =
(Rs. 5,000 + Rs. 1,725), and add to it the other Term Deposits of the party at the branch. If the
aggregate amount so arrived at is less than Rs. 20,000/- then only the amount may be paid in cash.
Otherwise the mode of payment as specified in the Act will be applicable.
1 6 . 5 Penalty for Failure to comply with the above provisions regarding cash payment
The penalty when we fail to comply with the above provisions regarding cash payment has been
provided for in section 276E of the Income Tax (2nd Amendment) Act, 1981.
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UCO BANK
The section is quoted below for reference.

If a person, without reasonable cause or excuse, repays any deposit referred to in section 269T
otherwise than in accordance with the provisions of that section, he shall be punishable with
imprisonment for a term which may extend to two years and shall be liable to fine equal to the amount
of such deposit.
1 7 . PAYMENT TO THIRD PARTY

17.1 A term deposit receipt is not a negotiable. One of the conditions of term deposit receipt is that the
receipt is not transferable. The depositor, therefore, cannot endorse it in favour of another person. The
payment must be obtained by depositor himself or by his banker.
17.2 In case the depositor wants the payment to be made to one of his agents/employees, the term deposit
receipt must be discharged by depositor and a request should be made by him/her in a covering letter
to the bank to make payment to such agent or employee. The signature of such agent/employee should
be attested in the letter by the depositor.
17.3 In case of joint account, the authority and discharge of the depositor must be according to
instructions given in Term Deposit Receipt. If the instructions are to pay to deposits jointly, then all the
joint depositors should sign the letter and discharge the term deposit receipt.
17.4 When payment of term deposit receipt is to be effected to an authorise person in the manner
described above, it is essential that
a) The signatures of depositor(s) on the Receipt in discharge thereof are carefully verified.
b) Proper and satisfactory identification of the person receiving the payment is obtained.
c) To pay by Pay Order marked A/c Payee and Not Negotiable favouring the depositor when
the amount of payment so warrants as per section 269T of Income Tax (2nd Amendment) Act
1981.
d) To exercise greater care when amount involved is large.
17.5 All payments to Limited companies should be by Pay Order or by crediting their Current Accounts
with the Bank.
1 8 . ADDITION AND DELETION OF THE NAME(S) OF JOINT A/C HOLDERS

At the request of the joint account holders the Bank may allow the addition or deletion of name(s) of
joint account holder(s) if the circumstances so warrant or allow an individual depositor to add the
name of another person as a joint account holder as per guidelines of Reserve Bank of India.
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It should be noted that under no circumstances, the duration of the original deposit undergo any change
in any manner in case the deposit is a term deposit,
a) for a banking institution or a co-operative bank other than Land Development Bank.
b) for which it has issued a participation certificate
c) for a period not exceeding 14 days from LIC and UTI representing money at call or short notice.
d) under the Foreign Currency (Non-Resident) Account Scheme.
1 9 . OVERDUE TERM DEPOSIT RECEIPT

19.1 The term deposit, which remains unpaid after the due dates are, called Overdue Term Deposits.
Such deposits are demand liabilities and therefore they should be segregated from term deposit and be
incorporated to GL accordingly.
19.2 The officer concerned should refer to Due Date Diary and get the term deposits (FD/KY/DC) due but
not paid (or renewed) transferred to Overdue Fixed & Time Deposit Account.
This process should be accomplished as frequently as possible, but must be done at the time of each
quarterly closing of accounts.
19.3 While transferring to Overdue Fixed & Time Deposit Account the entire maturity value (in case of
KY & DC Account) or the principal + unpaid interest (in case of FD Account) is to be transferred to
that account.
19.4 The following vouchers are to be passed while doing the above
In case of KY/DC
Debit
: CFD A/c (for maturity value)
Credit
: Overdue Fixed & Time deposit account
In case of FD Account
Debit
: FD Account (for principal amount only)
Debit
: Intt. Paid (for unpaid intt. amount, if any)
Credit
: Overdue Fixed & Time Deposit Account
19.5 The date of transfer to overdue Fixed and Time Deposit account should be marked in the term
deposit Register, Ledger and Due Date Diary with a remark Transferred to overdue A/c.
19.6 A separate Fixed Deposit Register may be allotted for recording details of term deposit receipts
transferred to Overdue Fixed and Time Deposit Account. The register may be named as OD-FD
Register.
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UCO BANK
1 9 . 7 Payment/renewal of term deposit receipts transferred to overdue account

When an overdue term deposit is presented for payment or renewal, the procedure is same as outlined
in paragraph No. 13 in page 75. The only difference is that instead of term deposit, Overdue Fixed &
Time Deposit Account is to be debited.
2 0 . TRANSFER TO INOPERATIVE ACCOUNT

Term deposit receipts which are not paid/renewed within two years after their maturity should be
treated as stale term deposits and be transferred to Inoperative Account (For detailed instructions,
please refer to Chapter-XI on Operative Accounts.
2 1 . RESTRICTION ON PREMATURE WITHDRAWAL (FORECLOSURE) OF HIGH

VALUE TERM DEPOSITS
High Value Term Deposits for this purpose means deposit of Rupees one crore and above. Fresh
deposits made from 18/05/2001 or renewal of existing deposits from 14/05/2001, premature
withdrawal shall not be allowed under any circumstances, except the deposits held by individual(s)
and HUF.
2 2 . BALANCING
22.1 Term deposit accounts should be balanced every month as on the day specified by the Manager from
RCL (For KY/DC) and from Fixed Deposit Register/Ledger (for FD Accounts).
22.2 Overdue Term Deposit register should be balanced every month on the day to be specified by the
Manager.
22.3 The officer who has been allotted the duty of checking the balancing of term deposit ledger/register,
should check the balances in the balance book from the respective ledger/register and after being fully
satisfied as to the jotting down and totalling, should put a rubber stamp with following words and
signed by person concerned.
Balanced ........................................... (Clerk)
Checked by ...................................... (Officer)
Examined by .................................... (Asst. Manager)
Initial of Manager ............................
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UCO BANK
BRIEF FIXED DEPOSIT ACCOUNT RULES

1.
Any person approved by the Bank may open a Fixed Deposit Account. He/She has to sign the
relative Account Opening Form in presence of authorized official of the Bank upon agreeing to
comply with the rules governing Fixed Deposit Accounts and providing satisfactory introduction.
Passport/Personal Identity Cards/PAN Card/GIR No./Voters Identity Card issued by
Chief Election Commission may be considered as adequate introduction for opening such
account. However, introduction is not essential where the depositor is already having and
introduced account.
2.
The Bank will not open an account which is to be operated under a cross mark or signature by
the hand of another person.
3.
An illiterate person may open Fixed Deposit Account to be operated by his/her thumb impression.
4.
Two Passport size photographs (three, if the account is to be operated by thumb-impression)

are required to be submitted by the depositors at the time of opening of a Fixed Deposit Account,
unless such photographs are already available to the branch in respect of another account.
5.
Every depositor while opening a Fixed Deposit Account by tendering cash shall be required to
furnish PAN/GIR Number or submit Form 60/61 if the deposit amount exceed Rs. 50,000/-.
6.
Fixed Deposit Account can also be opened by a natural guardian i.e. father or mother or by a
guardian appointed by the Court on behalf of a minor, or by a minor having attained the age of
10 years.
7.
The Bank reserves the right to verify the details given in the Account Opening Form through any
third party, if necessary.
8.
Fixed Deposit Accounts can also be opened by Joint Stock Companies, Executors &
Administrators in their names, Clubs, Societies, Associations, Educational Institutions, Trusts,
Sole proprietorship or Partnership Firms.
9.
The same depositor in the same name can open more than one Fixed Deposit Account.
10. Fixed Deposit Account may be opened for a minimum period of 15 days and maximum period of 10 years.
11. The minimum amount required to open a Fixed Deposit is Rs. 1000/-.
12. Interest is paid either periodically monthly at discounted rate/quarterly for Fixed Deposit under Regular
Income Scheme or on maturity of the deposit on cumulative basis under Kuber Yojna or Deposit Certificate
scheme. Income Tax is deductible at source from such interest subject to Income Tax rules. The depositor
should submit Form 15-H wherever applicable.
13. Senior Citizens who have attained the age of 60 years and above are presently offered 0.50% over and
above the normal interest range on Fixed Deposit regardless of the size of deposit and periodicity.
14. Every depositor is entitled to have a Fixed Deposit Receipt (FDR)) for each deposit account containing the
date of issue, name(s) of the depositor(s), period of deposit, date of maturity, rate of interest & maturity
value of the deposit (except for deposit under Flexible Fixed Deposit Scheme). Every depositor is expected
to preserve the FDR carefully. In case of loss of FDR, the
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UCO BANK
depositor has to inform the Branch Manager and request for a duplicate. If the Branch Manager is satisfied
that the FDR is irretrievably lost and the Bank is generally safe in issuing a duplicate one, he may authorize
issuance of duplicate FDR on payment of prescribed charges and completion of formalities.
15. Premature withdrawal is allowed in case of all types of Fixed Deposit subject to prevalent penalty clause
from time to time.
16. The depositor is also permitted extension of term of the deposit before expiry of the original term deposit
without application of penalty clause provided the deposit in question is agreed to be held for a further
period reckoned from the date of extension which is longer than the remaining period of the original
contract.
17. Transfer of a Fixed Deposit Account from one branch to another is allowed on request of a customer due to
change in his place of residence or place of work.
18. On due date depositor(s) is/are required to discharge on the FDR with a view to getting payment of maturity
proceeds either in cash or by crediting his/her/their Savings Bank/Current Deposit Account with the same
branch. However, in terms of provisions of Income Tax Act 1981, maturity yield of any Fixed Deposit
amounting to Rs. 20,000/- and above would be paid either by A/c. Payee Cheque or A/c. Payee Bank draft
or by crediting Savings/Current Deposit account of the person to whom such deposit has to be repaid. FDR
is not transferable i.e. it cannot be endorsed in favour of another person.
19. On maturity of the specified term, the depositor may also opt to renew the deposit for a further period in
Fixed Deposit and change the period of deposit ad amount of deposit. Also addition & deletion of names in
a Joint Account is permitted.
20. If the customer neither obtains payment nor renews the Fixed Deposit although the term is over, it is called
an overdue Fixed Deposit. Payment/renewal of overdue Fixed Deposit is governed by following rules.
Renewal is carried out at the rate of interest prevailing on the date of maturity provided overdue period does
not exceed 14 days from the date of maturity.
Where overdue period exceeds 14 days, interest would be paid provided the depositor renews the deposit
for a further minimum period for which the deposit is lying overdue. If not renewed for a time equal to or
more than overdue period, interest rate applicable to Savings Bank deposit is payable on the deposit.
The interest for the overdue period will be paid at the rate prevailing on the date of maturity or on the date
of carrying out renewal, whichever is less. This interest may be paid to the depositor or clubbed with the
deposit for renewal.
21. The depositor may avail loan/advance against the security of the Fixed Deposit subject to extant rules of the
Bank in respect of such loan/advance from time to time, and such rules will be applicable notwithstanding
anything contained hereinabove.
22. Nomination facility is available in case of Fixed Deposit. The nominee must be an individual.
23. The Bank reserves the right to alter or add to these rules and such alteration and additions
shall be binding on the account holders.
_____ H H H _____
155
CHAPTER - V
NEW
DEPOSI
T
SCHEME
S
Bank introduced
undernoted seven
numbers of new
deposit schemes in
order to
1) suit the need
and demand
of different
section
of
depositors.
2) bring new
products
into
the
market for
effectively
facing the
stiff
competition.
3) Launch
varieties of
products to
attract the
depositors
and
4) enable the
managers to
face
the
challenges
of
the
market with
new
products.
Sl.
No.
Name of the Scheme
Introduced thr
1.
Lakhpati Deposit Scheme
CHO/DEP/10/
2.
Money Multiplier Scheme
CHO/DEP/10/
3.
Money Back Recurring Deposit Scheme
CHO/DEP/1/9
4.
Two Way Deposit Scheme
CHO/DEP/3/9
5.
Friend-in-Need Scheme
CHO/DEP/15/
6.
Flexible Fixed Deposit Scheme
CHO/DEP/12/
7.
UCO Laxmi Yojna
CHO/DEP/18/
8.
UCO Tax-Savers Deposit Scheme
CHO/DEP/09/
Out of the
above, (i) Lakhpati
Deposit
Scheme,
(ii)
Money
Multiplier Scheme
and (iii) Money
Back
Recurring
Deposit
Scheme
have
been
discontinued with
effect
from
14.02.2002
vide
Head
Office
Circular
No.
CHO/DEP/03/200
2
dated
14.02.2002.
However, accounts
already
opened
under the above

three scheme will
continue to be held
in the Banks book
of
accounts
till
their maturity and

are subject to rules
and
procedure
applicable to the
respective
scheme .
So, now, we
are
having
five
numbers of new
deposit
schemes
out of the seven,

introduced.
In
addition, a Special
Deposit
Scheme
for the benefit of

the senior citizens
has been floated
by the Bank with
effect
from
14.05.2001.
UCO BANK
1 . TWO-WAY DEPOSIT (TWD) SCHEME

( Reference CHO/DEP/3/92-93 dated 29.04.1992 )
This scheme is meant for those depositors who have some surplus fund in current or Savings Bank account
for a short period. Hitherto the depositors has no choice but to keep such fund idle in Current or Savings
Bank account earning no interest or less interest. In Two way Deposit Scheme, surplus fund from Current or
Savings Bank account is invested in Fixed Deposit accounts for 46 days. On maturity, these are either
renewed automatically, with or without interest or paid back to depositors Current/Savings account with
accrued interest depending on the instruction of the depositor. The depositor authorises the Bank to transfer
at the beginning of the last month of a quarter a minimum of Rs. 1000 or multiples thereof to Fixed Deposit
Account. The options available to the depositor are :
a) Such Fixed Deposits would be renewed with interest for further consecutive periods of 46 days
in cycles till these are encashed by the depositor by a separate instruction :
OR
b) Such Fixed Deposit would be renewed without the accrued interest for further consecutive
periods of 46 days in cycles till these are encashed by the depositor
by a separate instruction and the accrued interest at the end of every such period of 46 days
would be credited to the depositors Current/Savings Bank Account.
OR
c) Such Fixed Deposits would be paid back on maturity with accrued interest to the depositors
Current/Savings Bank Account.
A proforma of the letter of authorisation is given hereunder.
( Letter of option to be exercised by a Two-Way Deposit Account holder )
The Manager
UCO BANK
Branch
Date
Dear Sir,
I/We have the following Current/Savings Bank account in my/our name at your branch.
Name of the Account holder .................................................
Account Number (if any) .........................................................
I/we hereby authorise the Bank to act as under in respect of the above mentioned Account and the Fixed
Deposits to be opened in terms of provision and conditions of Two-Way Deposit Scheme of the Bank.
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UCO BANK
a) The Bank should transfer a sum of Rs. 1000/- or multiples thereof to Fixed Deposit
Account to 46 days at the beginning of the last month of each quarter i.e. March, June, September and
December to the debit of my/our Current/Savings Bank account provided the balance outstanding after
effecting
such
transactions
is
not
less
than
Rs.
(Rupees
). Such transfers may be made on any day in the

first week of the last month of the quarter i.e. in the first week of March, June, September and
December without any prior reference to me/us. I/we have executed a separate specimen signature card
for such Fixed Deposits.
2. The Bank should EITHER
a) renew such Fixed Deposit/s with accrued interest as and when it/these matures/ mature for
further periods of 46 days till such time I/we encash one or more of these by separate
instruction/s.
OR
b) renew such Fixed Deposit/s without accrued interest as and when it/these matures/ mature for
further period of 46 days till such time I/we encash one or more of these
by separate instructions. The accrued interest may be credited to the Current/Savings Bank
Account No. standing in my/our name.
OR
c) Pay back the Fixed Deposit/s with accrued interest, as and when it/these matures/ mature for
payment by crediting the Current/Savings Bank Account No.
standing in my/our name. This authority would amount to a valid discharge for such payments
of Fixed Deposit/s for the Bank.
H
( strike out any two of the options according to the choice of the depositor )
3. The separate instruction for encashment of one or more of the Fixed Deposits, as mentioned hereinabove,
on maturity, would be signed by any one/any two/any three/all of us or survivors (strike out whichever
is not applicable).
4. I/we hereby authorise the Bank to recover a sum of Rs. 15/- each quarter i.e. at the beginning of March,
June, September and December to the debit of my/our said Current/Savings Bank Account to cover
handling charges
5. I/we undertake to always maintain a minimum balance of Rs. 5000/- (in case of Current Account / Rs.
2000/- (in case of Savings Bank Account in my/our Current/Savings Bank account mentioned
hereinabove. (Strike out whichever is not applicable)
6. The provisions, terms and conditions of Two-Way Deposit Scheme including the interest rate on fixed
deposit of 46 days may be changed or varied by the Bank in its absolute discretion without prior notice
and I/we shall be bound by such variation.
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UCO BANK
7. Bank will not be liable in any manner whatsoever for any delay, omission or mistake by the Bank in
complying with any of the provisions of the scheme or the directive or instructions given by me/us and
which may result in any loss to me/us or claim against me/us by whatsoever.
Yours faithfully,
Signature :
Name
Address
OPERATIONAL FUND
All depositors should specify the amount that has to be left in the account over and above the minimum
stipulated by the Bank at the time of transfer of fund. This is termed as the Operational Fund which is always
available to the depositor for transactional needs, For example, if the depositor specifies a sum of Rs. 3000/as the minimum Operational Fund in this Savings Bank Account, then the minimum balance is to be
maintained at Rs. 5000/- (i.e. Rs. 3000/- minimum operational fund + Rs. 2000/- minimum required
balance).
ENCASHMENT OF FIXED DEPOSITS

If the depositor has opted for either 2(a) or 2(b) of the options as mentioned in the letter of option, his funds
get locked up in Fixed Deposit for an indefinite period. The depositor may instruct the Bank separately for
encashment of one or more of the Fixed Deposits either on maturity or prematurely. By such instructions the
Fixed Deposits concerned would be encashment while his option remains valid for other Fixed Deposits both
present and future. Proforma of such an instruction is given hereunder. Since the Fixed deposits would
mature within a period of 46 days only, premature encashments would be few. However, it should be noted
that for premature encashments no interest would be payable if encashment is made before completion of 30
days from the date when the amount was credited to the Fixed Deposit account.
Letter of request for encashment of Fixed Deposit under Two-Way Deposit scheme.
The Manager,
UCO BANK
Branch
Date :
Dear Sir,
1. In respect of the Fixed Deposits maintained in my/our name, under the Two-way Deposit Scheme of the
Bank, I/we hereby request pre-mature/on maturity encashment of the following Receipt/s.
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UCO BANK
Account No. of the F.D.

1
Amount of the F.D.
The Fixed Deposit/s with accrued interest, may be credited to my/our Current/Savings Bank Account
No.
2. Notwithstanding this instruction, my our earlier instruction dated (mention the date of
the letter of option) would remain valid for other Fixed Deposit/s standing in my/our name under TwoWay Deposit Scheme and the Bank should carry out all instructions mentioned therein as usual at the
present and future times.
Yours faithfully,
Signature :
Name
Address
TERMINATION OF TWD
In case the depositor wants to discontinue his TWD account he may do so by giving a termination letter in
writing. On receipt of such a termination letter all outstanding FDs (TWD) in his name should be paid back
to his current/SB account on maturity or prematurely as the case may be Standing instruction register, FD
(TWD) ledger folio should also be appropriately marked as Instructions cancelled in red ink.
CHARGES TO BE RECOVERED
Since the branch would do all the transaction of transferring fund/renewal/repayment etc. on behalf of the
depositor without requiring him to call on every time such transactions take place and since the number of
such transactions would presumably be large over a period of time, the branch should recover a handling
charge @15/- per quarter for each depositor. Such amounts may be recovered to the debit of the depositors
Savings Bank/Current Account for which the letter of option (Clause No. 4) contains the requisite authority.
STANDING INSTRUCTION REGISTER

Letter of option which the depositor executes at the time of opening a TWD account should be separately
filed chronologically, the details of the option exercised by the depositor should be entered in a separate
standing instruction register maintained exclusively for TWD accounts.
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UCO BANK
The details would include (i) Savings/Current account from which periodical debits would be made for
transferring fund to FD (TWD); (iii) whether FD (TWD)s should be renewed with interest or renewed
without interest or paid back on maturity; (iv) reference No. of FD (TWD) register and FD (TWD) ledger
folio. The branch should very scrupulously follow the instructions and transfer funds timely as desired by the
depositor.
FD (TWD) REGISTER AND LEDGER

Separate register and ledger are to be kept for TWD accounts, Separate folios are to be allotted to each
depositor in the FD (TWD) ledger. Entries to be made in the register and ledger would be the usual ones. A
separate running serial No. may be maintained for TWD accounts for easier control. As and when a deposit
matures it should be either renewed or paid, depending upon the instruction of the depositor. It would be the
duty of the branch to keep a constant vigil on the three books viz. (i) Standing Instruction Register (ii)
FD/TWD Register and (iii) FD (TWD) Ledger to ensure all to and fro transfers and renewals etc. are done
exactly on time so that the depositor does not find any occasion to be aggrieved with.
DISCONTINUANCE OF FD RECEIPT FOR TWD ACCOUNTS

Since a large number of renewals are expected of cash FD (TWD) Deposit, it has been decided to do away
with the necessity of issuing FD Receipts in case of TWD account FD (TWD) Register and Ledger would be
sufficient to furnish all details of the TWD accounts. As a record for the depositor, a Pass Book should be
given to him which would reflect the entries in the FD (TWD) ledger account of the depositor. Please note
that for each depositor only one account in FD (TWD) ledger is to be opened. All to and fro transfers,
renewals etc. should be shown in that ledger. A reflection of these entries in the Pass Book of the depositor
would enable him to know the up-to-date position of his TWD account.
HEAD OF ACCOUNT IN THE GENERAL LEDGER

Two Way Deposits are nothing but Fixed Deposits and as such no new head of account needs to be opened in
the General Ledger.
WHO CAN OPEN TWD ACCOUNT

Since the current/Savings Bank account and the related Fixed Deposit Accounts are envisaged to belong to
the same entity, such current/Savings Bank and Fixed Deposit Accounts would be opened in identical names
of individuals, associations of persons, minor (to be operated by guardians) and firms & companies would be
eligible to open Two Way Deposit Account.
LOAN AGAINST TWD

Since all the Fixed Deposit in this scheme would mature in a period of 46 days only no loans/ overdraft etc.
would be granted against Two-Way Deposits.
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UCO BANK
STAFF ACCOUNT
One per cent additional interest would be available to staff members who open accounts under this scheme.
However, in these cases the requirement of minimum balance and the quarterly charges may be waived.
TARGET GROUP
Target group for this deposit scheme would comprise those depositors who have either a temporary surplus
fund (say in a current account) which may be invested gainfully for short duration or such funds which
remain idle in view of unforeseen contingency (say in a Savings Bank account) where liquidity of fund must
be ensured to take care of such contingency. In medium or long term Fixed Deposit, this requirement cannot
be met Two Way deposits are ideally suited for this group of depositors.
__________
162
UCO BANK
2 . FRIEND-IN-NEED DEPOSIT
( Reference : CHO/DEP/15/92-93 dated 14.09.1992 )
This is a scheme where depositors who are individuals or associations of persons can avail of an overdraft
facility against Fixed Deposit through a Current Account by drawing usual cheques without approaching the
Bank time and again for a loan facility as is the procedure followed in granting loans against FDR to this
category of depositors. In effect, the depositor feels that while his deposit earns interest at the Fixed Deposit
rate, he can still use a major part of his money as and when needed and hence the name of the scheme.
Essential Features
a)
A Fixed Deposit (which includes Kuber Yojna) account is opened by the depositor.
A Current Account also needs to be opened in identical name if there is no existing
current account in that name.
b) The FD/KY Receipt is got discharged by the depositor in the usual manner to be kept under lien with
Bank.
c) A set of documents is executed by the depositor authorising the Bank to allow drawing against the said
Fixed Deposit/Kuber Yojna up to a maximum of 90% of the deposit amount. These documents are the
usual ones viz A-1, or A-2, A-3, A-38 and A-47.
d) A request letter, a proforma of which is given hereunder, is obtained from the depositor for treating the
Fixed Deposit as a Friend-in-Need Deposit with necessary details.
e) For overdraft facility up to Rs. 2 lakhs, an interest at a rate 2% higher than that allowed on the Fixed
Deposit concerned is charged on the debit balance, if any, in the Current Account on daily product
basis. For overdraft facility above Rs. 2 lakhs, the interest rate would be the PLR or deposit rate plus
2% whichever is higher.
Application for Friend-in-Need Deposit Account
The Manager
UCO BANK
Branch
Date
Dear Sir,
I/we have put in Rs. (Rupees )
as Fixed Deposit/Kuber Yojna the account number of which is/are in regard to this
I/we state as under :
1) I/we desire to have a drawing facility upto a maximum of 90% (ninety percent) of the deposit
mentioned hereinabove as and when I/we need the same.
163
UCO BANK
2) Such drawings would necessarily be made in the Current Account standing in my/our name by way of
regular cheques.
3) If due to such drawings and/or other debits made by the Bank, the balance in the said Current account
goes into the debit, the Bank shall be authorised to charge interest at a rate of 2% (two per cent) above
the rate allowed on the FD/KY viz. % (................
per cent) i.e. at a rate of % (percent) on the outstanding debit balance on
daily product basis.
The interest rate would be the Prime Lending Rate or 2% above the deposit rate whichever is higher
i.e. at a rate of % (percent)
H
( strike out whichever is not applicable depending on whether the overdraft facility is upto Rs. 2
lakhs or above Rs. 2 lakhs )
4) To facilitate the above arrangement I/we have discharged the said FD/KY receipt in blank to be kept
under lien with the Bank as a security against such overdrawings and any charges, interest and claim
that the Bank may have in the said same current account.
5)
It is however expressly agreed that not with expressly agreed that notwithstanding
the above, the Bank shall have right of lien and/or set off and combination of account on
the above Friend-in-Need deposit whether matured or not for any other liability present, future or
contingent of mine/ours to the bank on any other account(s) whatsoever and howsoever whether as
principal or as a surety.
6) Payment of the FD/KY whether on maturity or prematurely would only be made through the said
current account.
7) I/we shall form time to time execute any further documents or agreements as may be required by the
bank in giving effect to the Friend-in-Need deposit and agree to abide by the rules in force of the bank
from time to time in respect of Friend-in-Need deposit whether expressly notified to me/us or not.
Yours faithfully,
Signature :
Name
Address
Head of Account in General Ledger

No separate head of account needs to be opened in the General Ledger Friend-in-Need deposit would form a
part of Fixed Deposit or Kuber Yojna as the case may be Debit balance
164
UCO BANK
in current accounts resulting from drawing by the depositor would form a part of overdraft in current
accounts and be shown as such in General Balance.
Loan against Friend-in-Need Deposit

No other loan/OD would be allowed against such deposits.
Eligibility Criteria and Floor Limit

1)
Individuals and associations of persons may open Friend-in-Need deposit account

Fixed deposit/Kuber Yojna and the related current accounts should be opened in identical
names. Drawing against third party FD/KY should not be allowed under the scheme.
2) An FD/KY for minimum of Rs. 10,000/- and in multiples of Rs. 1000/- for a period of three years and
above (up to a maximum of 10 years) would be accepted under this scheme.
Staff Account
This scheme is meant to serve dual purpose. On one hand, the Bank wants to attract medium term deposits
and on the other hand, a channel for investing the funds is in-built in the scheme. Allowing staff members
concessions in margin and rate of interest in this scheme would defeat its purpose. Therefore, staff members
can avail of the facilities of this scheme under the same terms and conditions as applicable to general public.
No. concession in margin and rate of interest would be available to them in this scheme.
Miscellaneous
1) Mature/Premature payment may be allowed in the usual course, the proceeds of which should be
credited to the related current account.
2) All the documents/letters executed by the depositors are to be kept in a bunch along with the FD
Receipt, duly discharged, in a separate cover superscribed as Friend-in-Need Deposit. These
documents would be kept in custody of the bank as security documents.
3) Friends-in-Need accounts are primarily meant to serve those individuals and associations of persons
who would like their deposit to earn handsomely while at the same time it remains liquid enough to
make use of it. As such, though the drawings would be made through a current account, the
transactions would be more in the nature of those in a typical Savings Bank account.
4) No account would be opened in the name of a minor under this scheme.
Target Group and Miscellaneous

This scheme is primarily meant for attracting long and medium term deposits, with overdues to
165
UCO BANK
earn interest by advancing thereagainst. Form the depositors side also, the scheme is advantageous because
he can use a major portion of his fund in the same way as in a Savings Bank account while the deposit goes
on earning interest at a much higher rate than that available on savings bank deposit. Moreover, he does not
need to approach the bank every time for granting drawal against his own deposit. Target group for this
scheme is the urban middle and high income groups who often needs either to prematurely encash their
accumulated deposits to meet certain unforeseen expenditure or to keep unnecessarily large amounts in lowearning savings bank account to meet periodical expenses, losing interest under both the alternatives.
__________
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UCO BANK
3 . FLEXIBLE FIXED DEPOSIT (FFD) SCHEME

It is a deposit scheme like Kuber Yojna accounts, having provision of the premature with-drawals without
any penalty. Such premature withdrawals are allowed to be made in multiple of Rs. 1000/-. No penal interest
is levied for such premature withdrawals, but interest is paid at simple rate and at the rate applicable for the
period on the deposit held by Bank.
Target Group
Target Group for the scheme could be those depositors who make lumpsum deposits in the Bank and at the
same time would like to have easy access to the fund at the time of necessity with minimum loss of interest.
It has a distinct advantage over Kuber Yojna scheme in the way that a depositor under KY Account has to
foreclose the entire account when he is in bare need of money, thereby he losses a sizable amount by way of
penalty due to premature closure. Under FFD Scheme, on the other hand, the depositor can withdraw a part
of the deposited amount depending upon his necessity, While his interest earning on the balance amount of
deposit remains unaffected.
Eligibility
Individuals, Association of persons and bodies, those are eligible to open SB Accounts as per RBI guidelines
Category A
All other depositors, not covered under category A above Category B
Minimum Amount of Deposit

For depositors under Category A Rs. 5000/Further additional amount will be in multiple of Rs. 5000/- only
For depositors under Category B Rs. 1,00,000/Further additional amount will be in multiple of Rs. 10,000/- only.
Number of premature withdrawals permissible

For category A depositors No restriction
For Category B depositors Maximum 12 times in a calendar year.
Premature withdrawal
Premature withdrawal of a part of the deposit amount are allowed with a minimum amount of Rs. 1000/- or
in multiple thereof per occasion.
No penalty in the form of reduction in applicable interest rate will be levied for such premature withdrawals.
But, interest on the amount of premature withdrawal will be paid on simple interest rate (i.e. without
compounding at quarterly intervals) as would be applicable for the
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UCO BANK
period for which the amount remained with the Bank and the rate as was prevailing for such period at the
time of depositing the amount.
Accounting Opening Form

Accounts under FFD schemes would be opened with the usual application-cum-Credit voucher (DT-2) used
for Kuber Yojna Accounts. Along with this voucher, a declaration as given hereunder is to be obtained at the
time of opening of the account. This declaration may be kept at the branch either with the specimen signature
card or in a separate file.
Separate request in plain paper is to be made by the depositor for each premature withdrawal, which
will be stitched, to the concerned debit voucher, debiting the principal amount.
DECLARATION
The Manager
UCO Bank
Branch
Date
Dear Sir,
Sub : Deposit under Flexible Fixed Deposit Scheme
With reference to the deposit of Rs. (Rupees )
only, which I/we have made with you under your Flexible Fixed Deposit Scheme, I/we hereby declare that
partial premature withdrawal of the principal amount, which is allowed under the scheme, if any would be
made by me/us, it would be in multiples of Rs. 1000/- (Rupees one thousand) only. The Bank shall be at
liberty to impose penalty on interest or to pay interest at simple rate on the amount, which will be
prematurely withdrawn, as per rules of the Bank.
The rest amount, if any, would become payable on maturity.
Yours faithfully,
(Signature of the depositor)

Name :
Address
Opening of a SB Account or Current Account The depositors under the scheme must have a Savings
Bank/Current account in the branch. If they are not having such account earlier, they shall have to open a
Savings Bank/Current account before depositing any amount under FFD Scheme. All premature
withdrawals/final withdrawal at maturity shall be routed through the said account.
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UCO BANK
Pass Book in place of KY Receipt

No KY Receipt is to be issued for deposits under this scheme. A Savings Account Pass Book or preferably a
current account Pass Book should be issued to the depositor wherein entries upto the balance column of the
ledger would be reflected. A separate pass book designed specifically for this scheme is being introduced by
the Bank. Till such time the new Pass Book is put in put into use, branches should use current account pass
book for accounts under this scheme. It may be noted carefully that if the depositor has more than one
account under the scheme which would be maintained in different ledger folios, each such account should be
shown in different folios of the same pass book in a chronological manner. In the Pass Book folio, the
corresponding ledger folio number maybe mentioned at the top for easier reference. In other words each folio
of the pass book would show one account with one credit entry and presumably more than one debit entries
just like that in the ledger folio.
Under this system of maintaining pass book, if the account holder wants to know the total balance
outstanding in all the individual accounts (appearing on separate folios of the pass book) it may not be
convenient to him in absence of a summary statement. To enable him to know the total balance at any point
of time at a glance, we suggest that a summary of all accounts showing therein all credit and debit entries be
maintained preferably in the last two folios of the pass book. This summary would show all the deposits and
withdrawals made in all the accounts of the account holder as also the final balance outstanding taking all the
accounts together. For easier comprehension of this aspect a hypothetical summary is shown below which
exhibits the entries in the summary for hypothetical case.
Summary of accounts
( Hypothetical example )
Date
Particulars
10.09.98
By
02.02.99
15.07.99
10.01.00
17.08.01
Debit
Credit
Balance
KY/FFD/5/94
20,000
20,000
By
KY/FFD/2/95
10,000
30,000
To
withdrawal from
By
KY/FFD/5/94
To
withdrawal from
By
KY/FFD/2/95
By
KY/FFD/12/96
10,000
20,000
5,000
15,000
15,000
30,000
Record Keeping
It should be clearly understood that though there may be
several withdrawals in an
account, there can be only one deposit at the time of opening of the account. If the depositor
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UCO BANK
wants to make further deposit/deposits under the scheme, all such deposit/deposits would constitute separate
account/accounts. Such separate accounts are to be maintained in separate ledger folios. It may be observed
that the columns required for maintaining such accounts are more or less the same as in a Savings or Current
account ledger folio. We feel that branches may use the existing Savings (big bound)/Current account/FD
ledger with necessary modifications incorporating therein the columns required for making interest entries as
shown in the example in accounting procedure. We suggest that a separate ledger be maintained for this type
of accounts for easier control. Each account (one account in one folio) should be opened chronologically in
separate folios. It may so happen that one depositor who has more than one account under this scheme will
have his accounts in different folios of the ledger according to the date of opening of the account.
These accounts need not be entered into RCL, meant for CFD Accounts.
Head of Account in General Ledger

These deposits are Kuber Yojna deposits only and no new head needs to be opened in General Ledger.
However, a separate running serial number maybe maintained with suitable prefix or suffix in the Accounting
Opening Register. A typical number may be KY/FFD/5/98-99.
Accounting Procedure
Deposits under the scheme has not been categorised under Cumulative Fixed Deposit (CFD) accounts. Thus,
the procedure followed for provision and integration of interest for CFD accounts is not applicable for FFD
accounts.
Under FFD scheme, provision of interest at quarterly intervals is to be calculated afresh and the amount of
interest so provided is to be mentioned in the respective column. (Please refer to example) Similarly, while
making premature closure, fresh calculation of interest on the amount withdrawn is to be made. A Close
study of the undernoted example would given a clear idea about the procedure to be followed for calculation
of provision interest and interest payment at the time of premature withdrawal and final payment.
Example :
A deposit of Rs. 20,000/- has been made under FFD scheme on 15.04.1998 for 4 years.
Ledger Extract
Name : Mr. XYZ
A/c No. KY/FFD/5/98-99
Amt. deposited : Rs. 20,000/-
Date : 15/04/1998
Duration : 48 months
ROI : 12% p.a.
Date of maturity : 15/04/2002

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UCO BANK
Date
Particulars
15/4/98
By
KY/FFD/5/98-99
10/6/99
To Premature
Withdrawals
Dr.
Cr.
Balance
Interest
Payment
Interest Provision
H
Amount
Qr. ending
20000
20000
30/06/1998
30/09/1998
506/1121/-
3000
17000
364/-
31/12/1998
1755/-
31/03/1999
30/06/1999
30/09/1999
31/1219/99
2408/2618/3207
3365/-
15/10/99
do
2000
15000
315/-
12/4/2000
do
2000
13000
419/-
15/7/2001
do
2000
11000
780/-
31/03/2000
3916/-
6/11/2001
do
1000
10000
427/-
30/06/2000
30/09/2000
3886/4393/-
10000
Nil
6047/-
31/12/2000
31/03/2001
30/06/2001
30/09/2001
31/12/2001
4915/5452/6005/5563/5509/-
31/03/2002
5974/-
15/4/2002
To final payment
at maturity
Rem
arks
ACCOUNT CLOSED ON 15/04/2002

Sd/ Asst Manager
H
( Total amount of Interest accrued till that date )
UNDERLYING CALCULATIONS
A) INTEREST PAYMENT :
(i) 1 0 / 0 6 / 1 9 9 9
Rs. 3000/- withdrawn prematurely remained with Bank for 13 months and 26 days.
R.O.I. applicable 10.50% p.a.
Interest payable at Simple rate
= 3000 x 10.5 x 13
= 341.25 for 13 months
100 x 12
Again
3000 x 10.5 x 26
100 x 365
Total 363.69 = 364
= 22.44 for 26 days
Thus total Rs. 364/- is to be paid as interest along with the premature withdrawal of Rs. 3000/on 10/06/1999
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UCO BANK
(ii) 1 5 / 1 0 / 1 9 9 9
Rs. 2000/- withdrawn prematurely remained with Bank for 18 months. R.O.I.
applicable 10.5% p.a.
Interest Payable at simple rate :
= 2000 x 10.5 x 18
= 315.00
100 x 12
Thus, Rs. 315/- is to be paid as interest along with the premature withdrawal of Rs. 2000/- on
15/10/1999
(iii) 1 2 / 0 4 / 2 0 0 0
Rs. 2000/- withdrawn prematurely remained with Bank for 23 months and 28 days. R.O.I
applicable 10.5% p.a.
Interest payable at simple rate
For 23 months = 2000 x 10.5 x 23
100 x 12
For 27 days =
2000 x 10.5 x 28
100 x 365
402.50 + 15.53 = 418.61 say 419.00
= 402.50
= 16.11
Thus, Rs. 419/- is to be paid as

Rs. 2000/- on 12/04/2000.
interest along with premature withdrawal of
(iv) 1 5 / 0 7 / 2 0 0 1
Rs. 2000/- withdrawn prematurely remained with Bank for 39 months. R.O.I.
applicable 12% p.a.
= 2000 x 12 x 39
= 780.00
100 x 12
Thus, Rs. 780/is to be paid as interest along with premature withdrawal of
Rs. 2000/- on 15/07/2001.
(v) 0 6 / 1 1 / 2 0 0 1
Rs. 1000/- withdrawn prematurely remained with Bank for 42 months and 21 days. Applicable
R.O.I. 12% p.a.
For 42
months = 1000 x 12 x 42
100 x 12
For 21
= 420.00
days = 1000 x 12 x 21
= 6.90
100 x 365
Thus Rs. 427.00 is to be paid as interest
Total
along
= 426.90 (say 427.00)

with premature withdrawal of
Rs. 1000/- on 06/11/2001.

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UCO BANK
(vi) 1 5 / 0 4 / 2 0 0 2
Amount of Rs. 10,000/- remained with the Bank for full period of 48 months. Rae of Interest
applicable is 12% p.a., to be compounded quarterly : Taking the help of Master Chart, total
amount of interest to be paid at maturity i.e. on 15/4/2002 is Rs. 6047.00
B . INTEREST PROVISION (R.O.I. 12% p.a.)

(i) 3 0 / 0 6 / 1 9 9 8
Rs. 20,000/- remained with Bank for 77 days.
20,000 x 12 x 77
365 x 100
Amount of provision =
(ii)
= 506.30 (say 506.00)
30/09/1998
Rs. 20,000/- Rs. 506 20,506/- remained with Bank for a quarter
Amount of provision =
20,506 x 12
= Rs. 615
4 x 100
Earlier provision amount Rs. 506/- + provision for the quarter Rs. 615/= Rs. 1121/- total provision amount
(iii) 3 1 / 1 2 / 1 9 9 8
Rs. 20,000/- + Rs. 1121/- = Rs. 21.121/- Interest accrued for the quarter
= 21,121 x 12 = Rs. 634
400
Total amount of provision 1121 + 634 1755/iv) 3 1 / 0 3 / 1 9 9 9
Rs. 20,000 + 1755 = Rs. 21755/Interest Accrued for the quarter =
21,755 x 12
400
Total amount of provision = 1755 + 653 = Rs. 2408/-
= Rs. 653/-
(v) 3 0 / 0 6 / 1 9 9 9
In the meantime, Rs. 3000/- has been prematurely withdrawn on 10/06/1999, leaving Rs.
17,000/- as principal amount. Upto 31/03/1999 a sum of Rs. 2408/- was provided for principal
amount of Rs. 20,000.
The provision amount for Rs. 17000/- till 31/03/1999 will come to :
= 2408 x 1700
= Rs. 2047
20000
(17000 + 2047) x 12
Interest accrued for the quarter =
4 x 100
= Rs. 571/-
Total amount of provision = 2047 + 571 = Rs. 2618/Net amount to be provided 2618 + 2408 = Rs. 210/MANUAL OF INSTRUCTIONS VOL. 4 (DEPOSITS) PART-I
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UCO BANK
(vi) 3 0 / 0 9 / 1 9 9 9
(1700 + 2618) 12
400
(vii)
= Rs. 589/-
31/12/1999
In the meantime, Rs. 2000/- was prematurely withdrawn on 15/10/1999 leaving Rs. 15,000/- as
principal amount. Upto 30/09/1999, a sum of Rs. 3207/- was provided for principal amount of
Rs. 17,000/-.
The provision amount for Rs. 15,000/- upto 30/9/99
will come to :
3207 x 5000
(15000 + 2830) 12
400
= Rs. 2830/-
17000
535/-
Total amount of provision = 230 + 535 = Rs. 3365/-Net amount to be provided 3365
3207 Rs. 158/(viii) 3 1 / 0 3 / 2 0 0 0
(15000 + 23365) 12
= 551/-
400
(ix) 3 0 / 0 6 / 2 0 0 0
In the meant i.e. Rs. 2000/- was prematurely withdrawn on 12/04/2000, leaving Rs. 13000/- as
principal amount.
Up to 31/03/2000, a sum
of Rs. 3916/- was provided for principal amount of
Rs. 15,000/The provision amount for Rs. 13,000/- up to 31/03/2000

will come to =
3916 x 1300
15000
= Rs. 3394/-
(13000 + 3394) 12
400
Net amount of provision = 3886 - 3916 = 30/(x) 3 0 / 0 9 / 2 0 0 0
= Rs. 492/-
13000 + 3886) 12
= Rs. 507
400
Total amount of provision = 3886 + 507 = Rs. 4393/(13000 + 4393) 12

400
174
Rs. 4915/UCO BANK
(xi)
31/12/2000
Rs. 522
Rs. 537/-
553/-

Total amount of provision 4393 + 522
(xii) 3 1 / 0 3 / 2 0 0 1
(13000 + 4915) 12

400
Total amount of provision = 4915 + 537 = Rs. 5452/(xiii) 3 0 / 0 6 / 2 0 0 1
(13000 + 5452) 12

400
Total amount of provision = 5452 + 553 + = Rs. 6005/(xiv)
30/09/2001
In the meantime, Rs. 2000/- has been prematurely withdrawn on 15/07/2001, leaving Rs.
11,000/- as principal amount.
Upto 30/06/2001,
a sum of Rs. 6005/- was provided for principal amount of
Rs. 13,000/The provision amount for Rs. 11,000/- till 30/06/2001
= 6005 x 1000 =
Rs. 5081/-
13000
(11000 + 5081) 12
= Rs. 482
400
Net amount to be provided = 5563 6005 = 442/(xv) 3 1 / 1 2 / 2 0 0 1

Further, on 06/11/2001, an amount of Rs. 1000/- was withdrawn prematurely, leaving principal
amount of Rs. 10,000/Upto 30/09/2001, a sum of Rs. 5563/- was provided for principal amount of Rs. 11,000/The provision amount of Rs. 10,000/- till 30/09/2001 will come to
5563 x 10000
11000
= Rs. 5057
(10000 + 5057) 12
= Rs. 452
400
Total amount of provision 5057 + 452 = Rs. 5509/-
Net amount to be provided = 5509 5563 = 54/MANUAL OF INSTRUCTIONS VOL. 4 (DEPOSITS) PART-I
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UCO BANK
(xvi) 3 1 / 0 3 / 2 0 0 2
(10000 + 5509) 12
400
= Rs. 465/-
Staff Account
Staff members may open account under the scheme with usual benefits which they are entitled to in rate of
interest, premature payment and loan against deposit. But, while making premature payment, interest will be
paid on simple basis at applicable rate.
Loan against deposit

As FFD scheme is aimed at providing better liquidity to the depositor. The depositor, in stead of asking for a
loan against their deposit would prefer for a part premature withdrawal. However, loan can be granted
against FFD under usual terms and conditions as would be applicable for availing loan against Kuber Yojna
account. A-38 (R) form will be used as application-cum-letter of lien. The passbook is to be retained at the
Bank with a separate discharge certificate, written on a plain paper bearing signature of the depositor across
an adhesive stamp of Re. 1/-. All other documents are to be obtained and lien marking on the ledger folio and
pass book are to be made as usual.
Loan is to be granted to the maximum extent of 90% of principal and accrued interest.
However, if any premature withdrawal is requested for during the pendency of loan account, the proceeds of
premature withdrawal will be appropriated first to liquidate the loan account and the balance would be
credited to depositors account.
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UCO BANK
4 . UCO LAXMI YOJNA

( Reference : CHO/DEP/18/95-96 dated 23.02.1996 )
This is a very convenient deposit scheme wherein the features of savings bank account and a recurring
deposit account have been amalgamated. Like a Recurring deposit account, there would be monthly
instalments, but unlike Recurring deposit account, such instalments may not be equal. Any amount between
Rs. 50/- and Rs. 10,000/- in multiples of Rs. 10/- may be deposited in a month subject to conditions
mentioned in point No. (c) below. Like Savings Bank account, interest at the term deposit rate would be
calculated every half year and credited to the account, but unlike Savings bank account, no withdrawal is
permitted before maturity.
PERIOD OF DEPOSIT
Deposits would be accepted for periods from 1 year to 10 years. However, tenure of the deposit need not be a
multiple of 3 months, as in the case for a normal recurring deposit account. The exact period should be so
determined that the maturity date of an account falls on the 1st day of the next month after the account has
completed the desired period. For example, for an account which is opened on 25th May 1996 for a desired
period of 36 months, the exact period of maturity should be fixed as 3 years and 7 days so that the date of
maturity falls on 1st June 1999 instead of 25th May 1999. The purpose of this is to prevent loss of interest to
the depositor which he would otherwise suffer in the terminal month because of the mode of calculation of
interest for which the minimum balance between 10th and the last day of the month is taken into account. For
accounts which are opened on the 1st of a month this adjustment of period of maturity would not be required
since in those case the date of maturity-would even otherwise fall on the 1st day of a calendar month. The
period of maturity even after such adjustments should not, however, exceed 10 years.
PERIODICITY OF INSTALMENT
Like a recurring deposit account, there would be one deposit every month. However, unlike recurring deposit
account, there would not be any penalty for default of monthly instalments. It may also be noted that unlike
normal recurring deposit account, there is no prefixed maturity amount in these accounts since the amount
payable on maturity would depend on the amounts of monthly instalments (which are veriable) deposited in
the account. The account will mature on its due date irrespective of the number of instalments actually
deposited by the depositor. Like Recurring Deposit accounts, there would be no withdrawal before maturity
(or before premature encashment, if any) in these accounts.
If in an account, monthly instalments have not
been deposited for a continuous period
of 4 months, a notice should be sent to the depositor requesting him to clear his monthly
instalments. It should be mentioned in the notice that if the default occurs for a continuous
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UCO BANK
period of 6 months, the Bank will have no option but to close the account. On the completion of 6 months of
continuous default, the account should be closed and the amount with admissible interest thereon should
either be credited to the depositors Savings/Current account under advice to him or a Pay Order/Demand
Draft should be sent to the last known address of the depositor.
AMOUNT OF MONTHLY INSTALMENT

Unlike a normal recurring deposit account, the monthly instalments may not be equal. However, all monthly
instalments would necessarily be a multiple of Rs. 10/- with the stipulation that the instalments deposited in
any month would be any amount between Rs. 50/- and Rs. 10000/-(both inclusive). However, at the time of
opening the account, the depositor shall have to specify the minimum amount he would deposit in a month
(the minimum amount to be so specified must not be below Rs. 50/-) and the maximum amount which he
could deposit in a month shall not exceed 10 times of the minimum amount, subject to maximum amount of
Rs. 10,000/-
INTEREST CALCULATION
Interest shall be applied at a uniform rate applicable for the period for which the account has been opened as
per the interest rate structure for domestic term deposits effective on the date of opening of the account.
Interest shall be calculated on the basis of monthly products reckoned on the minimum balance in the
account between the 10th and the last day of the month. Thus, the procedure would be identical to that
followed for savings bank accounts.
Going by the above procedure in the example referred to above, the account will not earn interest for the
month of May 1996, nor for the month of May 1999. In order to avoid such loss of interest to the depositor in
the terminal month the period of the deposit should be so fixed that the due date (the date on which the
account completes the contracted period falls on the first of the next month (within the overall ceiling of 10
years). Thus, in the example given above, the deposit should be accepted for a period of 3 years and 7 days
so as to fall due on 1st June 1999.
PAYMENT OF INTEREST
Interest as explained above would be calculated every half year at half yearly closing and would be credited
to the account as is done in the case of savings bank accounts.
LOAN AGAINST THE DEPOSIT

Loan up to 90% of the deposit amount outstanding may be granted at an interest rate of 2% p.a. above the
deposit rate for loans up to Rs. 2 lakhs. For loans above Rs. 2 lakhs, the rate
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UCO BANK
of interest would be the PLR or 2% above the deposit rate whichever is higher. Usual documents like A-1 or
A-2, A-47, D-48 may be taken from the depositor at the time of granting loan. A Receipt, discharged on a
revenue stamp, should also be taken along with the relative Pass Book and should be kept with other
documents as is done in case of loans against deposit.
PAYMENT BEFORE MATURITY

Payments before maturity may be considered affording interest at 1% below the rate applicable for the period
for which the deposit has actually run. Methodology to be applied for premature payment is as under.
If an account, which has been opened for 5 years at the rate of 13% p.a. on 15th May 1996, premature
payment is requested on 1st June 1997, interest will have already been credited to the account half yearly in
September, 1996 and March 1997, at the rate of 13% p.a. Say, the total of such interest amount comes to Rs.
500/-. Because of premature payment, the rate of interest payable on the account would be 11% p.a.
(assuming that the applicable rate for 1 year to 2 years to be 12% p.a. and reducing the same by 1% p.a. as
penalty for premature withdrawal). Thus the actual amount to be paid up to March 1997 would be Rs. (500 x
11/13) = Rs. 423/-. To this, the interest for the months of April and May 1997 at the rate of 11% p.a. will
have to be added to arrive at the final amount to be paid to the depositor. Excess amount of interest, if any
credited to the account should be recovered at the time of premature payment.
STAFF ACCOUNT
Usual benefits available to the staff members in regard to the interest rate on the deposit as well as on the
margin and interest rate on loan granted against the deposit would be applicable in this case also.
HEAD OF ACCOUNT IN GENERAL LEDGER, BOOKS TO BE KEPT AND ACCOUNTING

PROCEDURE
A separate head should be opened in General Ledger by the name of UCO LAKSHMI YOJNA. All
transactions in these accounts should be vouched accordingly. Monthly balancing as is done in the case of
other deposit schemes should also be done for these accounts. Existing Savings bank ledger books can be
used for keeping ledger accounts of UCO LAKSHMI YOJNA as interest calculation etc. would be on the
same lines as those applicable to savings bank accounts. At the top of the ledger folio, besides account
number, name and address of the depositor and the tenure of the deposit as also the due date should be
mentioned. Savings Bank account, Pass Book can be conveniently used for this type of accounts also.
Interest paid on such deposits should be debited to Interest Paid on UCO LAKSHMI YOJANA account
which would be new head in P/L Subsidiary Ledger. For monthly deposits, pay-in-slips used
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UCO BANK
for normal recurring deposit accounts may be made use of. A separate head should be opened in Account
Opened and Closed register for accounts under UCO LAKSHMI YOJANA and account number may be
prefixed for suffixed by ULY for easier identification.
ELIGIBILITY AND TARGET GROUP

Branches will observe that unlike normal recurring deposit, the monthly instalments are variable in this
scheme. This should be helpful for those depositors whose monthly income is variable and for whom
depositing a fixed amount every time, as it required in the case of normal recurring deposit account, may be
somewhat inconvenient in particular depositors is rural and semi urban areas may come under this category
where many of the depositors will belong to non salary earning group. They can vary the instalment amount
to be deposited in any particular month depending on the amount that can be saved in that month. This
imparts considerable flexibility to the scheme.
Individuals including minors and associations of persons not engaged in any profit making venture would be
eligible to open accounts under this scheme.
ACCOUNT OPENING FORM

The Account Opening Form DS-1A (Combined) to be used for opening account under UCO LAKSHMI
YOJANA by individuals. The form is to be used for depositors other than Individual(s) depositors as per
Annexure-I (Page-44).
__________
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UCO BANK
5 . UCO TAX SAVER DEPOSIT SCHEME 2006

The Bank has launched the scheme UCO Bank Tax Savers Scheme 2006 to mobilise term deposits from
depositors who are also Income-tax payers and would like to avail deduction under Section 80C of the
Income-tax Act 1961. Under the said Act, deposit made with a scheduled bank for five years or more upto a
maximum limit of Rs. 1 lac is eligible for deduction from the assessment year 2008-09.
Eligibility :
A deposit under the Scheme may be opened by (i) An individual for himself (ii) Hindu Undivided Family
(iii) Jointly by two adults or jointly by an adult and a minor, and payable to either of the holders or to the
survivor. However, in the deposits in joint names, the benefit under section 80C of the Income tax shall be
available only to the first holder of the deposit.
Period of deposit
The period of deposit under the scheme shall not be less than 5 years from the date of deposit, subject to a
lock in period of 5 years. The maximum period of deposit shall however be as per the extant term deposit
rule of the bank. The term deposit under the scheme shall not be encashed before the expiry of 5 years from
the date of the deposit. In respect of Term Deposit for a period longer than 5 years, premature encashment
may be allowed after a period of 5 years, subject to the prevailing rules for premature payment.
Rate of Interest
The rate of interest payable will be at the prevailing rate for such deposits as advised by HO from time to
time. Senior citizens, members of staff, ex-staff and ex-staff senior citizen may be allowed additional interest
over and above the prevailing rate and such additional rates shall be advised from time to time. The interest
may be compounded and paid in a lump sum at the time of maturity or it may be paid every quarter/month in
accordance with the extant guidelines for payment of interest on term deposit. The interest payment on
monthly basis should be at the discounted rate. Where the interest is compounded and paid at maturity, the
term deposit receipt shall bear the annualised rate of return on the deposit.
Procedure for opening the account

The extant guidelines regarding opening of Term Deposit accounts shall be followed. In addition, depositor
shall be required to provide his Income-tax permanent account number (PAN) and complete address in the
application form. The account shall be opened in Term Deposit under a code UCO Tax Saver Deposit
Scheme 2006. A separate serial number should also be given to all deposit accounts opened under the
scheme. Special remarks reading as Accounts
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UCO BANK
under UCO Tax-Saver Deposit Scheme 2006-premature payment not allowed before expiry of 5 years
should be entered in computer system to guard against payment within the lock-in period.
Issuance of term deposit receipt

The depositor shall be issued a term deposit receipt on the banks Fixed Deposit/Kuber Yojana Receipt. In
addition to the usual particulars, the full address of the depositor and his PAN number shall also be
mentioned in the receipt. A rubber stamp containing the additions may be affixed at an appropriate place on
the deposit receipt itself. All Account Opening forms shall be stamped as aforesaid and the specimen
signature cards should be stamped with UCO Tax Saver Deposit Scheme 2006. Such AOFs as also the
respective specimen signature cards shall be serially numbered and kept in a separate file in serial order.
Nomination
The single holder or the joint holders of a deposit under the scheme may, by filling in the prescribed format
nominate any person who, in the event of the death of the single holder or both the joint holders, as the case
may be, shall become entitled to the deposit and to receive payment thereon. Such nomination can be made
at the time of making the deposit or at anytime after making the deposit but before its maturity. Nomination
facility shall not be available under scheme in respect of a deposit held by or on behalf of a minor.
Transfer of deposit to another branch

The term deposit made under the scheme may be transferred by the depositor(s) from one branch to another
branch by making a request in writing at either of the two branches. Such term deposit shall, however, not be
transferred to another bank. Every request for transfer shall be signed by the holder or all the holders of the
term deposit in case of joint deposit.
Loan against the deposit

No loan shall be granted against Term Deposit under the scheme. Such deposits shall also not be pledged to
secure loan or as security to any other asset.
Issue of Duplicate Receipt in lieu of lost Term Deposit Receipt

The procedure for issue of duplicate receipt in respect of term deposit receipts lost, stolen, mutilated or
defaced shall mutatis mutandis apply to deposit made under the UCO Tax Saver Deposit Scheme 2006 also.
Payment to Nominees/legal heirs

The nominee shall be entitled to receive payment of the term deposit receipt at any time
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UCO BANK
before or after the maturity of the term deposit in the event of death of the holder of the term deposit for
which a nomination is in force. The procedure for such payment shall be the same as that for other deposit
held with the bank and nomination made as per rules.
Payment to legal heirs

If the holder of term deposit dies and there is no nomination in force at the time of his death, the branch pay
the sum due to the deceased, to his legal heir in accordance with the extant guidelines for settlement of
claims of the legal heirs of the Deceased Account Holders (Banks Circular Ref. No. CHO/Law/05/2004
dated 13/07/2004 and as may be amended from time to time).
Deduction of Income-tax
Interest on the term deposits under this scheme shall be liable to tax under the Income Tax Act, on the basis
of annual accrual or receipt by the depositor. The branch shall deduct Income tax, if such interest exceeds Rs.
5000 in a year in accordance with the provisions of Section 194A or Section 195 of the Act, as the case may
be. However, if the depositor furnish declaration in Form 15G or 15H, the branch may not deduct tax from
the interest on the term deposit accrued/paid.
Modification/Relaxation in the Scheme

The General Government may, by order modify/relax the requirements of any or more of the provisions of
the Bank Deposit Scheme 2006 and the scheme will stand modified to that extent.
Accounting/Reporting & Monitoring of the Scheme

The extant procedural guidelines in respect of Term Deposit Accounts (FDR & KY Account) shall also apply
for the deposit account opened under the scheme.
The branch should furnish to their Regional Offices a report on a quarterly basis the number of accounts
opened under the scheme in a format containing the following information :
a) Number of A/cs at the end of the quarter.
b) Balance outstanding at the end of the quarter.
c) No. of new a/cs opened during the quarter.
d) Amount of deposit in the new a/cs.
__________
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UCO BANK
6 . SPECIALS DEPOSIT SCHEME FOR SENIOR CITIZENS

The Special Deposit Scheme for Senior Citizens was offered by our Bank with effect from 14/05/2001.
Senior Citizen
A resident Indian, having attained the age of 60 years is termed as Senior Citizen for the purpose of the
scheme.
Age of the customers, entitled to the special benefits (Incentives) under the scheme is to be verified at the
following points of time.
1) At the time of opening of a new term deposit account at the branch.
2) At the time of renewal of an existing term deposit account, if the depositor is otherwise entitled to the
special benefits under the scheme and if the renewal takes effect from a date on or after 14/05/2001.
Documents from which age is to be verified

Branches should satisfy about the age by verifying any of the following documents.
1) Secondary School Leaving Certificate
2) LIC Policy
3) Voter Identity Card
4) Pension Payment Order
5) Birth certificate issued by competent authority
6) Passport
7) Any other document acceptable to the Bank.
Subsequent verification of age

Once the age of the Senior Citizen is verified for accepting deposit/renewing existing deposit under the
Special Deposit Scheme, branches should not seek proof of age at a subsequent stage i.e. for renewal of the
deposit account or for accepting fresh deposits from the same depositor under the scheme.
Deposit Accounts, where the Incentives are available

1) It must be term deposit account, regardless of size of deposit and regardless of period of deposit
(Please see point no 1 Incentives Supra)
2) The deposit account must be in the name of a Resident Senior Citizen.
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UCO BANK
3) The deposit accounts, which are opened on or after 14/05/2001 or

The deposit accounts, which are the renewals of existing term deposit accounts and the date of renewal takes
effect from 14/05/2001 or any other date thereafter.
Treatment of Joint Depositors

Incentives under the scheme is available in a joint account (regardless of instructions like Either or
Survivor, Former or Survivor etc.) where minimum one of the depositors is a Resident Senior Citizen
provided that the name of such Resident Senior Citizen appears as the 1st named depositor in the account.
1 . Additional Interest Incentives :
(a) For Senior Citizens :
For all term deposits (domestic/NRE), from Senior Citizens of age 60 years and above,
regardless of size of deposits, an additional interest of 0.75 per cent over the normal rate of
interest is currently being paid on all maturities. This will be applicable for fresh term deposits
and renewals.
The quantum of additional interest rate and the period of deposit, for which it is applicable, is
subject to change as per HO guidelines.
(b) For Retired Staff Members who is also a Senior Citizen :
It has been decided by the Bank to extend the benefit in the rate of interest for being senior
citizens to ex-staff members with effect from 1
be as follows.
Period of Deposit
st
March 2005. The rate applicable to them will
Normal Staff
Privilege
As a Senior
Citizen
Total Incentive
Interest
180 days to less than 3 years
1 . 00%
0 . 25%
1 . 25%
3 years and above
1 . 00%
0 . 50%
1 . 50%
However, the above incentive interest is applicable to a maximum amount of Rs. 25 lakhs per ex-staff
member.
2 . Automatic Transfer to Nominee

For this special deposit scheme for senior citizens, there will be automatic transfer of deposits to the
nominees of such depositors in the event of death of the depositors. So, nomination must invariably be
taken from the depositors under the scheme.
3 . Waiver of Penalty for premature withdrawal

No penal interest will be levied (i.e. reduction of interest rate by 1%) for premature
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UCO BANK
withdrawal of term deposits under the scheme. However, interest rate applicable in case of premature
withdrawal will be the rate as prevailing at the time of opening the account as applicable to the senior
citizens, for the period the deposit actually retained by the branch.
4 . Free Remittance Facility

Depositors under the special deposit scheme can remit up to Rs. 5000/- (Rupees five thousand only)
per month without paying any commission to Bank. However, to avail this free remittance facility, the
funds to be remitted must be routed through the depositors current or savings account, maintained
with the branch.
___________
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UCO BANK
7 . FLOATING RATE DEPOSIT SCHEME

It has been decided to introduce a new deposit Scheme called UCO Floating Rate Deposit Scheme where the
interest rate will be refixed at half-yearly intervals by linking the same to a reference rate. Details of the
scheme are given below.
1 . Name of the Scheme :

UCO FLOATING RATE DEPOSIT SCHEME
2 . Name of the instrument :

UCO FLOATING RATE DEPOSIT RECEIPT
3 . Nature of the Scheme :

Fixed Deposit with Floating Rate interest, where interest can be paid on quarterly (Regular Income) or
cumulative basis.
4 . Eligibility :
Same as that for ordinary Fixed Deposit/Cumulative Fixed Deposit.
5 . Amount of Deposit :
Rs. 100,000/- or its multiple
6 . Period of Deposit :
3 years (minimum), 5 years, or 10 years (maximum)
7 . Tax Deduction at Source :

Same as ordinary Fixed Deposit/CFD.
8 . Accounting Procedure :
Accounting procedure for UCO Floating Rate Deposit with Cumulative Option will have the same
accounting procedure as that of Cumulative Fixed Deposit. For non-cumulative Regular Income
Option, accounting procedure will be same as that of ordinary Fixed Deposit.
Separate heads should be opened in GL styled CFD (FRD) for cumulative category and FD (FRD) for
ordinary Fixed Deposit category. CFD (FRD) should be maintained in a separate CFD Register cum
Ledger. FD (FRD) should be maintained in separate Fixed & Time Deposit Register and Ledger.
Separate PL Subsidiary heads should be opened in respect of provision/interest payment of CFD
(FRD) and FD (FRD).
Reporting in ACT-1 should be made by clubbing CFD (FRD) with CFD and FD (FRD) with Fixed and
Time Deposit. Details of such accounts are to be furnished on the back of ACT-1.
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UCO BANK
9 . Rate of Interest :
The interest rate on such deposit will be revised at half-yearly interval by linking to the 3 year deposit
rate as prevailing on 1st April and 1st October every year (plus differential interest for Senior
Citizen/staff-member, if applicable) and the rate so derived will be applicable on the deposit up to 30th
September/31st March of the year, as the case may be. The depositor will be advised of such change in
rate of interest.
Differential Rate of Interest for Senior Citizens and staff-members :
For Senior Citizens
: Additional
0.50%
For staff members
: Additional
1.00%
1 0 . Premature payment :
In case of premature payment, the applicable interest/penalty will be as under :
i)
Up to 14 days : No interest
ii) More than 14 days, up to one year : SB rate.

iii) More than one year up to two years : SB rate + 0.50%
iv) More than two years up to three years : SB rate + 1.00%
v) if the deposit has remained with the Bank for more than three years, penalty will be charged
@50% on the principal amount for the period the deposit remained with the Bank or the
remaining period of maturity of the deposit, whichever is less.
1 1 . Loan against Deposit :

Rules applicable will be the same as that of ordinary Fixed Deposit under quarterly Interest
scheme/CFD, save and except that the interest to be charged on the Loan account (linked to deposit
rate) will be changed in tune with the change effected in deposit-rate, under advice to the borrower.
N.B. : The Bank reserves the right to modify/change these rules at any time and display of such changes by
putting up a notice in Branch Premises, shall be deemed as communicated and binding on the
depositor.
Procedural Guidelines for Floating Rate Deposits

The broad features of Floating Rate Deposit Scheme have been advised to all offices and branches vide
Circular No. CHO/DEP/02/03-04 dated 08.04.2003. The following procedural guidelines are to be followed
by the branches for handling Floating Rate Deposits.
A. Fixation of Interest rate :

The interest rate initially applicable will be the same as that for three-year fixed-rate deposit as ruling
on the date of opening of the account. Thereafter the interest rate will
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UCO BANK
be refixed at the rate applicable to three-year fixed-rate deposit as prevailing on 1st April and 1st
October every year.
Example :
A Floating Rate Deposit (FRD) for Rs. 100,000/- is opened on 28.05.2003. Another Floating Rate
Deposit (FRD) for Rs. 500,000/- is opened on 12.08.2003.
Let the three-year deposit rate for fixed-rate deposits be as under :
As on 28.05.2003
= 6.25%
On and from 12.07.2003
= 6.00%
On and from 18.12.2003
= 5.75%
Then the initial interest rate on Floating Rate Deposit opened on 28.05.2003 is 6.25%. And the
initial interest rate on Floating Rate Deposit opened on 12.08.2003 is 6.00%.
The above rates will continue up to 30.09.2003. Rate of interest will be reset as on 01.10.2003. The
rate applicable on both the deposits with effect from 01.10.2003 will be the same as that for three-year
fixed rate deposit as ruling on 01.10.2003 = 6.00%. This rate will continue from 01.10.2003 up to
31.03.2004 and will be reset to 5.75% w.e.f. 01.04.2004.
It may be noted that all Floating Rate Deposits issued up to the date of resetting (1st April/1st October)
will bear the same interest rate after resetting, irrespective of date of opening or term of the deposit.
B . Calculation of provisions for FRD under cumulative scheme :

The calculation of provision will be different from that applicable to fixed rate CFD, since the change
in interest rate has to be taken into account. The under noted method is to be followed :
Floating Rate Deposit for Rs. 100000/- opened on 28.05.2003.
Initial rate of interest = 6.25%.
Provision up to 30.06.2003 =
100000 x 34 (days) x 6.25
= Rs. 582/-
365 x 100
Provision up to 30.09.2003 = Rs. 582/- +
100582 x 6.25
Rs. 1572/- = Rs. 2154/-.
= Rs. 582/- +
4 x 100
Interest rate as on 01.10.2003 = 6%.

Rs. 1532/- = Rs. 3686/-.
102154 x 6
4 x 100
= Rs. 2154/- +
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UCO BANK
103686 x 6
4 x 100
Rs. 1555/- = Rs. 5241/-.
= Rs. 3686/- +
Provisions are to be recorded in the Balance Book as prescribed for CFD.

This amount will be credited to depositors account and TDS, if any, deducted from the account as per
guidelines for Cumulative Fixed Deposits.
C. Recording interest payments under Regular Income scheme :

For FRD under Regular Income Scheme, a separate Fly-Leaf having the following format may be
stapled with the Deposit Receipt, if the depositor so desires :
Date of payment
Interest for Quarter ending
Amount of interest
Initials
D. Recording of Interest rates :

The interest rates applicable to the portfolio are to be chronologically listed in a separate page of the
FRD (Regular Income) Register/CFD (FRD) Register-cum-Ledger in the manner :
Date
Rate applicable
01.04.2003
6.25%
01.10.2003
6.00%
01.04.2004
5.75%, and so on.
E. Conversion :
For converting a fixed rate FD/KY into FRD, the depositors will apply in writing along with the
existing FD/KY receipt and the A.O.F. and relative papers for Floating Rate Deposit duly filled in. The
existing FD/KY deposit will be prematurely closed but no penalty will be charged for such premature
closure. Then the Floating Rate Deposit account will be opened as a new deposit.
F. Nomination :
If the depositor chooses the option, as provided for in the AOF (Depositors Instruction part), for
marking of Nomination Registration Number on the FRD Receipt, such marking will be made on the
Receipt.
MANUAL OF INSTRUCTIONS VOL. 4 (DEPOSITS) PART
-I
190
UCO BANK
G. Loans :
Loans against FRD will be allowed under the same conditions as applicable to normal fixed deposit
except for the resetting of interest on loan in tandem with the resetting of interest on the deposit with
effect from 1st April/1st October every year.
H. Overdue Deposit :
Rules for renewal of overdue Fixed Deposit (Floating Rate) will be the same as that of normal Fixed
Deposits.
I. Designated branches :
The scheme is implemented through designated computerized branches only. Branches may
approaches H.O. DIT for necessary software support for this product.
191
192
FOR OFFICE USE
UCO BANK
Certificate No.
Branch
Cash/Transfer Scroll No.
Customer ID No.
Credit CFD (FRD) / FD (FRD) A/C.

I/We request you to issue me/us a UCO FLOATING RATE DEPOSIT RECEIPT under Cumulative/Regular Income Scheme in
consideration of the amount deposited by me/us for a period of years.
I/We have read and understood the rules of the said Deposit Scheme and agree to be bound by them as now in force and also to any
change that may be made in future.
Full Name in block letters
1. .........................................
2. .........................................
Age
Residential Address with Tel. No.
Occupation
PAN/GIR No.
3. .........................................
Amount (in words)
Amount
Instruction for
Whether due date
(in figures)
operation
notice to be sent
Yes / No
Rate of interest on date of opening Quarterly interest to be credited to (SB/CD) a/c.

(For Regular Income Scheme).
Please furnish details of interest payments by affixing a fly-leaf to the Deposit Receipt YES/NO (For Regular Income Scheme). Declaration
for exemption from TDS : Form 15-H submitted herewith (strike out if not applicable)
1 .............................................................
Signature of 1st applicant
2 ..................................................................
Signature of 2nd applicant
3 ...............................................................
Signature of 3rd applicant
...................................................................
COUNTERFOIL
.....................................................................
Signature of Receiving Cashier
.................................................................
Signature of Asstt. Manager (Cash)
UCO BANK
.. Branch
Cash/Transfer Scroll No. Date
Received with thanks from

Shri/Smt. ....................................
.....................................................
.....................................................
a sum of Rupees ......................
.....................................................
........................... Rs. ..................
........................... as deposit for issuance of UCO FLOATING
RATE DEPOSIT RECEIPT.
Signature of Receiving
Cashier
Signature of Asstt. Manager (Cash)
UCO BANK
INTRODUCTION
I certify that I know the above applicant/applicants personally for past

months/ years and confirm his/her/ their occupation/ occupations and address/addresses
as stated above.
Name of the Introducer
Address of the Introducer

A/c. No.
Date
....
Signature of the Introducer
Not required if the depositors have other duly introduced A/c.
(mention details).
Customers profile :
1. (a)
Details of occupation ....................................................................................................................................................................

Office/business
(b)
2. (a)
Annual income .............................
3. (a)
Annual income .............................
address ...............................................................................................................................................................
(c) . Residential status: Owned/rented/company provided. (c) vehicle owned: yes/no.

Office/business
(b)

Office/business
(b)
address ...............................................................................................................................................................
Annual income .............................
address ...............................................................................................................................................................
UCO BANK
FOR ILLITERATE PERSONS ACCOUNT
Date :
Branch
Dear Sir,
..........................
.
Sub : My Floating Rate Deposit Account

The content of the Account Opening Form and the rules of the Bank regarding Floating Rate
Deposit Account in force for the time being has been explained to the depositors and fully understood
by him/her and he/she affixed his/her left/right thumb impression hereunder in my presence in token
thereof.
193
Left/right thumb impression of the depositor
Illiterate
persons
identification
marks ................
Signature
..........................
.
..........................
.
Signature of
Authorised
Official
UCO BANK
UCO BANK
UCO FLOATING RATE DEPOSIT SCHEME ACCOUNT OPENING FORM PART-II
Depositors Instructions
The Manager,
Branch
Date :
With reference to my/our UCO FLOATING RATE DEPOSIT RECEIPT NO.

under Cumulative/ Regular Income Scheme opened at UCO Bank Branch on
I/We request you to note the following instructions in regard to conduct of the account and
final payment.
A. Instructions for premature payment and allowing loans to one or more of the account holder(s) or to the
survivor(s)
In continuation of our application of date to you to open in my/our name(s) a UCO Floating Rate Deposit (No.
) under Cumulative/ Regular Income scheme at your branch. We hereby issue and record our
consent, request and authorisation that the Bank, may, on receipt of a written application from Shri/Smt.
Former/ latter/ the first/ second/ third named out of us or either or
survivor of us or any one or survivor or survivor o us, in its absolute discretion and subject to such terms and conditions
as the bank may stipulate and without reference to any of the other depositors amongst us. (a) grant a loan/advance
against the security of this term deposit held in our joint names of (b) make premature payment of the deposit together
with interest due to former/the latter, the first/second/ third names of us, either or survivor of us, any one of us, anyone
of survivors of us.
B . Nomination :
With reference to my/our UCO FLOATING RATE DEPOSIT RECEIPT NO. under
Cumulative/Regular Income Scheme opened at UCO Bank Branch on
I/We nominate the following person to whom in the event of my/our/minors death
the amount of deposit held in the above account may be returned by the Bank.
Name of Nominee
Address of the Nominee
Relationship of the
nominee with depositor
Identification marks of nominee if nominee is illiterate

Specimen Signature of Nominee (optional)
Present age of
nominee
If nominee is minor
his/her date of birth
.............................................................................................
.................................................................................................................
CONTD.
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CONTD.
UCO BANK
2. As the nominee is a minor on this date, I/We appoint Shri/Smt./Kumari
(Name, Address &
Age) to receive the amount on behalf of the nominee in the event of my/our/minors death during the minority of the
nominee.
Name(s) of witness(es) :
Address(es) of witness(es) :
1.
.................................................................................
1. ................................................................................
2.
.................................................................................
2. ................................................................................
3.
.................................................................................
3. ................................................................................
.................................................................................
Signature of witness
................................................................................
2.
.................................................................................
Signature of witness
................................................................................
Signature / thumb impression of depositor(s)
Where deposit is made in the name of a minor, the nomination should be signed by a person lawfully entitled to
act on behalf of minor.
C. Please mark the fact of nomination on the Deposit Receipt : YES / NO
1
Signature of 1st applicant
2 ..
Signature of 2nd applicant
3 ...
Signature of 3rd applicant
FOR OFFICE USE :

Instructions Noted.
Nomination Registration No. ................................................
Customer ID No. .....................................................................
Photograph affixed with Specimen Signature Card/ No photograph obtained as the same is available in depositors
A/C. bearing No. .
Separate introduction obtained and letter of thanks sent to introducer on
/ Separate introduction has not been called for as the depositors have duly introduced
A/C. bearing No. .
Asstt. Manager
Manager
195
UCO BANK
UCO FLOATING DEPOSIT
RECEIPT
COUNTERFOIL
NO. ...........................................................
DATE ........................................................
NAME ......................................................
..................................................................
AMOUNT ................................................
PERIOD ......................................... years
DUE DATE ..............................................
Asstt. Manager
Manager
Notice of withdrawal given on
Subject to Tax Deduction at Source
Date of Maturity
Control No.
UCO BANK
No.
BRANCH NOT TRANSFERABLE Date of Issue
UCO FLOATING RATE DEPOSIT RECEIPT
Received with thanks from ............................................................................................................................

a sum of Rs. .................................. (Rupees .......................................................................................... only)
to be kept under UCO FLOATING RATE DEPOSIT CUMULATIVE / REGULAR INCOME SCHEME of the Bank
carrying interest at floating rate, for a period of years to be operated
. Rate of interest on date of issue % to be refixed as per scheme.
Asstt. Manager
Manager
UCO BANK
196
d
e
p
o
si
t,
w
h
ic
h
e
v
e
r
is
le
s
s.
RULES OF BUSINESS
1 . Eligibility : One or more individuals, Proprietorship Concern, Partnership Firm,

Joint Stock Company, H.U.F., Trust, Local Body, Society, Club, Government
Department/Corporate/Undertaking or bank, approved by the Bank.
2 . Amount of Deposit : Rs. 100,000/- or its multiple.
3 . Period of Deposit : 3 years (minimum), 5 yeas or 10 years (maximum).
4 . Nature of Deposit : Available in both Regular Income version where quarterly
interest would be paid out, or in the Cumulative version where the interest will be
compounded at quarterly intervals.
5 . Rate of Interest and refixing dates : The rate of interest will be the same as 3
years deposit rate. The interest rate would be revised at half-yearly interval by
linking to the 3 year deposit rate as prevailing on 1st April and 1st October every
year (plus differential interest for Senior Citizen/staff-member, as applicable) and
the rate so derived would be applicable on the deposit up to 30th September/31st
March of the year, as the case may be.
6 . Premature Payment : In case of premature payment, the applicable
interest/penalty would be as under :
(i) Up to 14 days : No interest.
7.
(ii) More than 14 days, up to one year : SB rate
(iii) More than one year up to two-years : SB rate + 0.50%.
(iv) More than two years up to three years : SB rate + 1.00%.
(v) If the deposit has remained with the Bank for more than three years, penalty
would be charged @0.50% per annum on the principal amount for the period
the deposit remained with the Bank or the remaining period of maturity of the
L
o
a
n
s/
A
d
8.
C
N.B. :
T
REVENUE
STAMP
UCO BANK
197
UCO BANK
8 . UCO SANJEEVAN BIMA YOJNA

The Bank has entered into an Agreement with the Life Insurance Corporation of India (LICI) for providing
an optional One Term Group Insurance Coverage to its individual Savings Bank and current Account
holders. Under the agreement Bank will act as MASTER POLICY-HOLDER for and on behalf of the
member-depositors.
Benefit to the depositor :

Member-depositors will get Life Insurance Coverage for period of one year (reckoned from 1st April to 31st
March) for a sum assured of Rs. 1.00 lakh against Natural Death and Rs. 2.00 Lakhs against Death due to
Accident. The policy is to be renewed every year. This being a One Term Group Insurance Scheme Surrender
Value/Terminal benefits/Maturity Value are not available.
The Scheme has been christened as UCO SANJEEVAN BIMA YOJNA. The salient features of the scheme
and the procedure to be followed are given hereunder :
1 . Designated branches :
The scheme will be introduced initially to PBM/TBM branches situated in four Metro Cities, namely
Kolkata, Mumbai, Delhi and Chennai.
2 . Eligibility for joining the Scheme :

a) Age : Individuals holding Savings bank/Current A/c, aged between 18 to 59 years are eligible
for membership. The date of birth as given by the applicant in the consent-cum-Authorization
Letter (Annexure-I) will be the basis of computing the age and in case of dispute; the onus of
proving the correctness of the age will rest with the member/beneficiary. Age will be computed
from the Date of Birth nearer to the date of joining the Scheme. At the time of renewal, the age
will be computed from the Date of Birth nearer to 31st March of the relevant financial year.
b) Single membership : An account-holder will be eligible for one membership only under the
scheme even if he holds more than one Account in a Branch or other Branches of the Bank. In
case more than one claim is subsequently received on death of the account-holder holding
multiple membership, insurance claim will be entertained and paid to the nominee of the oldest
policy and the premium, if any recovered from other accounts of the deceased will be refunded
to the respective nominees. Even then, such multiple membership may lead to legal
complications and care should be taken by the Branch to preclude such a situation. It may be
noted that Life Insurance Corporation of India will not entertain any direct correspondence from
Member/beneficiary under the Scheme.
c) Medical examination : The necessity for Medical Examination of the applicant has
198
UCO BANK
been waived under the Scheme. A declaration of Good Health, incorporated in the Consent-cumAuthorisation Letter, will suffice.
3 . Enrolement :
The scheme is optional in nature. An eligible Deposit Account-holder may become enrolled as a
member under the Scheme by signing the Consent-cum-Authorization Letter and submitting the same
to Branch. The option once exercised will be final and irrevocable for the respective financial year.
In case of a Joint Account, each account holder must enroll separately. Premium will be deducted
separately. No Objection Certificate (NOC) from other co-account-holders will have to be submitted in
each case for debiting such premium to the Joint Account.
The Manager/Authorized Branch Official shall explain the scheme to individuals holding Savings
Bank or Current account with the branch. The optee depositor shall submit to the Branch the consentcum-Authorization Letter duly signed after filling up the necessary particulars. The authorized branch
official shall satisfy that the Consent-cum-Authorization Letter has been duly filled in and in complete
in all respects.
4 . Annual Premium Payable by the optee :

Category 1
: Members aged 18 years to 35 years
Category
2 : Above 36 yeas to 50 years
Category
3 : 51 years to 59 years
Rs.
252/-
Rs.
468/-
Rs. 1224/-
Premium paid under the above scheme is eligible for exemption from Income Tax under Section 88 of
Indian Income Tax Act.
The applicable premium is to be debited to the customer}s A/c. according to the age furnished by the
applicant. On debiting the customer}s a/c. Receipt-cum-Certificate as per Annexure-II will be issued.
For credit of premium amount, the Branch will open a Dummy a/c. in the style Non-Operative
Premium Collection a/c. UCO Sanjeevan Bima Yojna.
The member-depositor should keep sufficient balance in the Savings/Current Account towards the
premium for renewal of the Policy every year. The Bank is not obliged to extend Overdraft in the
Account for payment of annual premium.
5 . Due Date for debiting premium :

The insurance-coverage for the first batch of optees will be effective from the date of debit of the
premium up to 31.03.2005 and pro-rata premium for the period will be charge. The membership has to
be renewed on or before 1st of April every year hereafter called
199
UCO BANK
the Annual Renewal Date. Accordingly, the premium should be debited in the last week of March
every year and remitted to LICI. For members joining after 1st April, propor-tionate premium will be
charged up to 31st March of the next year. The Chart for such proportionate premium is given in
Annexure-III.
In case of Member in one age group say, under Category I crossing over to the next age group say,
Category II during the period covered under the policy, the premium as applicable to higher age group
will be charged at the time of renewal.
Insurance Cover starts from the day premium is debited to the account and cover is available up to 31st
March next. Even if the member joins the scheme on dates other than 1st of any month, full months
premium will be recoverable.
Insurance Coverage will be available to the member provided up to date premium has been
paid/debited to his Account on or before the date of Death.
6 . Policydocuments :
No individual policy will be issued to member by LIC of India as the coverage is being made available
under Group Insurance Scheme. A Receipt-cum-Certificate as per Annexure-II signed by two
authorized officials of the Branch will be issued to each optee. The rules relevant to the customer is
provided on the back of the said Receipt-cum-Certificate.
7 . Remittance of premium to LICI :

The Main branch at each Metropolitan Centre viz. Kolkata Main, Mumbai Main, Chennai Main and
New Delhi Main are designated to maintain the live NOPC Accounts of respective Regional P & GS
offices of LICI and will function as the Nodal Branch for other branches in the same Metro Centre.
The Branch shall remit the total premium collected during the month after debiting Non-Operative
Premium Collection A/c. UCO Sanjeevan Bima Yojna and send directly the IBCN after tallying the
same internally, under cover of the Summary Sheet (Annexure-IVA), to the Nodal Branch along with
details of membership given in Format as per Annexure-IV A), to the Nodal branch along with details
of membership given in Format as per Annexure-IV B, on the first working day of the following
month. The particulars of premium remittance should be maintained in a Register (Annexure-V).
8 . Settlement of Claims :
In case of death within 45 days of joining this scheme, no claim excepting death due to accident will
be accepted. On the Death of the Member, intimation is to be given to the Branch through which the
deceased Member had joined the scheme, along with original Death Certificate, within a reasonable
time of say fifteen days. Normally, such intimation
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UCO BANK
along with the claim should be received from the nominee. If not, the branch has to send a notice to the
nominee immediately on receipt of information of death of the member.
For Deaths due to Accident, the onus of proof of Death due to Accident by submitting the required
documents viz., Preliminary Investigation Report, First Information Report, Post Mortem Report and
Final Investigation Report lies with the nominee.
The role of the Bank will be that of an Administrator and not of an A. Agent. All liabilities to claim
settlement would be with LICI. In all matters of admission of claim, the decision of LICI will be final.
The Bank is no way liable for admission of claim.
Claims shall be routed through the Branch only. LICI will not entertain any direct correspondence
from Member/beneficiary under the Scheme.
The Claim-Form (Annexure-VI, PART-A) duly filled in along with death certificate and certified copy
of the consent letter shall be forwarded by the branch through the Nodal Branch to the local P & GS
unit of LICI and will be paid by LICI to the Bank as the Master Policy is in the Banks name. If the
documentary proof of death is not submitted in original, Manager/authorised official of the branch
should attest copies of the same.
The Nodal branch shall enter the details in the Register and send the claim form and Discharge Receipt
(Annexure-VI, PART-B) to the respective LICI P & GS unit for settlement, along with the documents
sent by the originating branch.
The Nodal branch after receipt of the claim amount shall credit the same to Claim Settlement - a/c.
UCO Sanjeevan Bima Yojna. The Nodal branch shall remit the claim amount to the originating
branches after debiting this A/c.
The branches after receipt of the settlement amount shall pay to the Nominee after taking usual
precaution and complying with the required formalities.
9 . Role of the Nodal Branch :

The Nodal branch shall consolidate the data on receipt of the premium from different branches under
its jurisdiction. It will maintain a Register to record the details of remittances to ensure that remitting
branches furnish necessary details of the remittance and send reconciliation statement every month.
The Nodal branch shall maintain two NOPC accounts one for its own collection and another for
pooling of collection by all the branches placed under it. It will remit the amount collected up to the
last day of a month by Order/Demand Draft to the respective P & GS office of LICI within 7th of the
following month along with the consolidated data in the format given by Annexure-VII. A under cover
of a letter as per Annexure-VII B. Proper acknowledgement of receipt from LICI, for the premium
remitted shall be held on record.
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UCO BANK
The premium shall be remitted on or before the stipulated data without fail, as delay may result in
repudiation of claim by LICI and the members may prefer a claim on the Bank.
The role of the Nodal Branch in settlement of claims is explained under Para-8. The tie-up
arrangement between the Nodal Branch with the respective P&GS unit of LICI is given in AnnexureVIII.
1 0 . Commission / Administrative Expenses :

Respective LICI P&GS unit will send Commission/Administrative expenses to the concerned Nodal
branch @ 10% of premium amount.
1 1 . Accounting Procedure :
For Customers Branch
i)
For Nodal Branch
For crediting premium to Non-operative

Premium Collection -A/c.
UCO Sanjeevan Bima Yojna :
Dr.
Customer Savings
A/c.
Bank/Current
Cr.
Non-operative
Premium
Collection - A/c. UCO Sanjeevan
Bima Yojna
i)
On receipt of remittance of premium

from customers
branch
through
IBCN :
Dr. Head Office
IBCN)
A/c. (Reversal of
Cr. Non-operative
Premium
CollectionUCO Sanjeevan Bima Yojna Pool A/c.
ii) On remittance of premium amount to

ii) Payment of Insurance Premium to
Nodal branch :
LICI P&GS on 7th of each following
Dr. Non-operative
Premium
month :
Collection A/c. UCO Sanjeevan
Dr. Non-operative
Premium
Bima Yojna
Collection UCO Sanjeevan Bima
Yojna Pool A/c.
Cr. -
Head Office A/c. (through issue of

IBCN)
iii) On receipt of claim amount from

Nodal branch :
Dr.
Cr.
Head Office A/c. (after reversal of

IBCN A/c.)
Nominees A/c. (after complying
with the required formalities)
Cr. Pay order / Demand Draft

(favouring LICI - P & GS Unit).
(iii) On receipt of claim amount from LICI
(P&GS) :
Dr. Clearing House A/c.
Cr. Claim Settlement - A/c.
UCO Sanjeevan Bima Yojna.
Dr. Claim Settlement - A/c.
UCO Sanjeevan Bima Yojna
Cr. - Head Office A/c. Branch
(By issue of IBCN).
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UCO BANK
1 2 . Accounting procedure on receipt of Commission/Administrative expenses amount from

LICI :
The commission will be released by the local LICI ( P &GS) unit to the Nodal branches which in turn
reimburse to all the originating branches under the region proportionately. TDS, if applicable, would
be deducted on the amount and LICI P & GS unit would release TDS Certificate after year-end.
Stage-I :
Dr. Clearing House A/c.
Cr. Exchange and Commission Received A/c. UCO Sanjeevan Bima Yojna
Stage II :
Dr. Exchange and Commission Received A/c. UCO Sanjeevan Bima Yojna. (To amount of
commission payable to other branches).
Cr. Head Office A/c. (By issuing IBCN in favour of individual branches originating business.)
After receipt of IBCN for the Commission amount from Nodal branch, the originating branch
will pass the following entries :
Dr. Head Office A/c.
Cr. Exchange and Commission Received A/c. UCO Sanjeevan Bima Yojna.
1 3 . Marketing :
Branches are advised to make an all out effort to open maximum number of insurance linked new
deposit accounts as also to bring the old depositors under the scheme UCO SANJEEVAN BIMA
YOJANA by application of the following marketing tools :
i)
Massive canvassing through leaflet/call letters to existing as well as prospective customer as per
annexure-IX.
ii) Insertion of the leaflet in local news papers.

iii) Organising customer meet.
iv) Oral campaigning by all staff members of the branch. The counter clerks who first interface the
customer could be the best sales person.
v) Displaying banner in prominent places of the branch premises.
vi) Visiting existing & prospective customers.
1 4 . Monitoring of Progress of the Scheme :

The Regional Offices are advised to closely monitor the progress of the scheme and
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UCO BANK
must ensure that the branches under their administrative control put utmost effort to open maximum of
new Saving & Current Deposit accounts.
The branches will send a monthly report in the format as per Annexure-X to the respective Regional
Offices who in turn will send consolidated statements to respective offices of GM (OPs) with a copy
forwarded to the Insurance Marketing Wing, H.O. Planning & Development.
204
UCO BANK
ANNEXURE - I
UCO BANK
Head Office :
10, B. T. M. Sarani, Kolkata-700 001
APPLICATION FORM FOR MEMBERSHIP
The Branch Manager

UCO Bank,
Branch
Region :
Dear Sir/Madam,
Scheme : UCO SANJEEVAN BIMA YOJANA
(Consent-Cum-Authorisation for Joining the Scheme)
I, Shri / Smt./Km. having a Savings/
Current Account with your Branch, hereby give my consent to become a member of the UCO Sanjeevan
Bima Yojana for a sum assured of Rs. 1,00,000/- (Rs. One lac only) with Double Accident Benefit, which
will be administered by UCO Bank as Master Policy holder.
My details are as below :
1.
Name (in Capitals) : Shri/Smt./Km.
2.
Date of Birth
:
Date
Month
3.
Fathers/Husbands Name
4.
Type of Account Maintaining
: Savings Bank / Current A/c.
5.
Account Number
Year
6 . Premium Amount :
Category
Premium Amount
Age Group
(as on date of joining scheme)
I.
Rs. 252/- per annum
18-35 Years
II.
Rs. 468/- per annum
above 35 Years to 50 Years
III.
Rs. 1224/- per annum
Above 50 years to 59 Years
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UCO BANK
7 . Particulars Regarding Nomination :

Nominees Name
Relationship
Address of Nominee
Date of Birth of Nominee (if minor)
Name of Appointee (for minor nominee)
Relationship to minor nominee
I hereby authorise you to debit my Savings Bank/Current Account with your Branch with Rs.
(Rupees only).
Further, I also authorize you to debit my above account with the appropriate annual premium as given above
every year on the Annual Renewal Date.
Though at present I am a member under age group Category-I / Category-II, I also authorize you to debit the
enhanced premium as well be applicable to me, once I cross over to the age group under CategoryII/Category-III at the rates then prevailing.
I agree that I will be a member of the Scheme only in your Branch even though I hold accounts in other
Branches of UCO Bank and I am aware that my life cover shall be restricted to Rs. 1,00,000/- in the event of
my death even if I have joined as a member of this scheme in any other branch of UCO Bank.
Since I hold a joint account with Shri/Smt. in your Branch, I agree
that if the insurance cover is desired by remaining account holders, premium will be deducted separately and
for which he/she will fill up a separate form.
(No Objection Certificate [NOC] for deduction of premium from all the remaining account holders to be
obtained. In case where the account is held jointly, NOC from all the remaining account holders to be
signed).
I agree that my membership in the scheme will remain in force as long as all premium dues are paid and until
I have attained age 60 years. You may continue to recover my premium as long as I am eligible to remain a
member of the scheme. I agree that in case I close my account with your Branch Office, I will cease to be a
member of this scheme from the immediately following Annual Renewal Date.
I agree that no liability will attach to UCO Bank if for any reason your branch is not in a position to recover
the premium amount by debiting my account, Further, if the premium is not recovered by the bank for any
reason whatsoever no liability will attach to LICI and no claim will be payable in such an instance.
I hereby declare that I am in sound health and not suffering or have suffered from any critical illness
or condition requiring medical treatment, as on date.
(Critical illness is defined as : not suffered/be suffering from AIDS, Cancer, condition requiring
206
UCO BANK
open chest surgery, history of typical chest pain, kidney failure, brain stroke or paralysis or having undergone
a major organ transplantation such as heart, lung, liver or kidney).
Note : If the applicant had suffered from any of the above critical illness, he/she is not eligible to join the
scheme.
I agree to abide by the terms and conditions of the above scheme.
I agree to your conveying the above particulars regarding my admission into the group insurance to LIC of
India.
I hereby declare that the above statements are true in all respects and that I agree and declare that the above
information shall form the basis of admission to the above scheme and that if any information be found
untrue, my membership to the scheme, shall be treated as cancelled from my date of joining the scheme and
all premium paid in respect thereof shall stand forfeited.
(Signature or thumb impression of

the account holder)
Name : ..
Date :
Place :
Residential Tel. No.

E-Mail ID, if any
Signature verified
: ..........................................................
Name of verifying Bank Official : ..........................................................

Designation
: ..........................................................
Certificate
( For illiterate applicants only )
I certify that the contents of this form have been fully explained to me by Mr./Ms.
and I have understood the significance of the contract.
Thumb impression of the account holder

I hereby declare that I have fully explained the above contents of this form to the account holder in
language and I have truthfully recorded the information given by the
account holder. I also declare that the account holder has affixed his/her thumb impression above after fully
understanding the contents thereof.
Signature of the Declarant

207
UCO BANK
NOC from Joint A/c. holders

I, holding A/c. No
Jointly with Shri/Smt. , have no objection to
he/she be deducted from the account and further that the proceeds of the claim be paid to his/her
nominee/legal heir.
Signature
Name
Signature
Name
Signature
Name
208
UCO BANK
ANNEXURE - II
UCO BANK
Head Office :
Certificate Regarding Deduction of Insurance Premium

Under UCO SANJEEVAN BIMA YOJNA
Date :
Name of Issuing Branch
Depositors Membership Number :

Received from Shri/Smt./Km. a sum of Rs.
(Rupees only) towards Life
Insurance Premium
for the period from to the next Annual Renewal date under
UCO SANJEEVAN BIMA YOJNA which is a Group Master Policy with Life Insurance Corporation of India
bearing Policy No. .
(Authorised Signatory)
Asst. Manager
H
(Authorised Signatory)
Branch Manager
Eligible for Income Tax rebate Under Section 88 of IT Act.
209
UCO BANK
RULES OF THE SCHEME

1. The Master Policy holder shall be UCO Bank.
2. The CORPORATION shall mean the Life Insurance Corporation of India established under Section 3 of the Life
Insurance Corporation Act, 1956.
3. The SCHEME shall mean Group Insurance Scheme for the account holders of UCO Bank known as UCO SANJEEVAN
BIMA YOJNA.
4. The MEMBER shall mean a personal account holder of the Bank admitted to membership of the Scheme and on whose
life an assurance has been or is to be effected in accordance with these Rules.
5. ENTRY DATE shall mean the date from which an existing account holder of the bank submits the consent-cumauthorisation letter and the appropriate premium is debited to the bank account whichever is later.
6. TERMINAL DATE shall mean in respect of each Member the Annual Renewal Date which is coincident with or next
Annual Renewal Date following the date on which the member completes the age of 60 years or closes his account with
UCO Bank.
7. THE BENEFICIARY shall mean the person or persons who has/have been appointed by the Member as Nominee and
whose name or names have been entered in this Register or Members kept by the Bank.
8. Scheme envisages admission of members during the policy year. Irrespective of the entry date, premium are to be paid for
the whole of the month of joining, by way of proportionate premium from the first of the month of joining till the close
of the policy year namely 31st March, every year.
9. An Assurance shall be effected on the life of each member under One Year Renewable Term Insurance Plan for a sum
assured of Rs. 1,00,000/- (Rupees One Lakh Only) The Assurances shall be held by the Bank UPON TRUST for the
benefit of the person entitled to in accordance with these Rules.
10. The assurances granted under the scheme are subject to a lien clause. No claim is admissible for deaths during the first 45
days from the entry date, except for cases of death due to accident.
11. Upon the death of the Member prior to Terminal Date, the sum assured under the Assurance then in force shall be
payable to the Bank for the benefit of the nominee/beneficiary, provided the assurance is kept in force by payment of
premium for that member.
12. The Assurance on the life of a Member shall terminate on an Annual Date upon the happening of any of the following
events and no benefit will become payable thereunder :
a) discontinuance of contributions relating to the Assurance
b) On completion of 60 years of age
c) closure of account with the Bank.
13. During the period when the assurance is kept in force, if death of a Member occurs directly from injuries caused by an
accident by outward, violent and visible means within 180 days of its occurrence solely, directly and Independently of all
other causes, then Corporation shall pay an additional Sum equal to the basic Sum Assured in respect of a Member. The
onus of proof that the death is due to accident lies with the nominee/beneficiary.
14. All Assurances issued under the scheme shall be Indian Contract. They will be subject to Indian Laws including the
Indian Insurance Act, 1938 as amended, the Life Insurance Corporation Act, 1956, the Income Tax Act, 1961 and to any
legislation subsequently introduced. All benefits under the Scheme arising out of death of any Member shall be payable
in Indian Rupees.
15. Every Member shall appoint his/her spouse or child or dependent to be his nominee. In the event of death of the Member,
the Benefits then in force under the Assurance on his life will be paid to the nominee appointed by the Member and
maintained by the Bank in the Register of Members kept by them. If the member does not have spouse or child or
dependant then he shall appoint his legal personal representative to be the nominee.
__________
210
UCO BANK
ANNEXURE - III
UCO BANK GROUP INSURANCE SCHEME FOR DEPOSITORS

(SANJEEVAN BIMA YOJNA)
SUM ASSURED Rs. 1 LAC WITH DOUBLE ACCIDENT BENEFIT REIMBURSEMENT
OF ADMINISTRATIVE EXPENSES @10% OF PREMIUM
Table of proportionate premium for Account holders joining the
scheme during the various months of the policy year.
Age Group
No. of Months for
which cover is
Granted
Month of
joining the
Scheme
Category-I
18-35
Category-II
36-50
Category-III
51-59
April
252
468
1224
May
231
429
1122
June
210
390
1020
July
189
351
918
August
168
312
816
September
147
273
714
October
126
234
612
November
105
195
510
December
84
156
406
January
63
117
306
February
42
78
204
March
21
39
102
Age mentioned above is age nearer birthday. For Account Holders joining the Scheme during the policy year
1st April, 2004 to 31st March, 2005 (2004-2005), age nearer birthday is to be worked as on 1st April, 2004
and for those joining during 2005-2006, as on 1st April, 2005 and so on.
________
211
UCO BANK
ANNEXURE - IVA
UCO BANK
Head Office :
UCO SANJEEVAN BIMA YOJANA

(To be used by individual Branch Procuring business) Summary
Sheet for the month of
1. Master Policy No.
2. Branch Name
: Branch Code (ID) No.
3. Nodal Branch Name
4. Annual Renewal Date
5. Details of Persons Joining the Scheme :

Sl.
No.
Membership
No.
Name
A/c.
No.
Date of
Joining
Date of
Birth
Age
Premium
Amount
TOTAL :
.
Signature of Branch Manager
Date :
Note : Personal Record Sheet of each depositor enclosed.
(TO BE SENT IN DUPLICATE BY THE ORIGINATING BRANCH TO NODAL BRANCH)
________
-I
212
UCO BANK
ANNEXURE - IVB
UCO BANK
Head Office :

( Membership particulars )
Policy No. :
1.
Branch Name
2.
Membership No.
3.
Date of Commencement of Membership:
4.
Name (in Capitals)
5.
Date of Birth
6.
Fathers/Husbands Name
7.
Type of Account Maintaining
: Savings Bank/Current A/c.
8.
Account Number
9.
Premium Amount
Category
Branch ID. No. :
Premium Amount
Age Group (as on date of joining the scheme
I
II
Rs. 252/- per annum

Rs. 468/- per annum
18-35
Above 35 years to 50 years
III
Rs. 1224/- per annum
Above 50 years to 59 years
10. Particulars Regarding Nomination :

Nominees Name
Relationship
Address of Nominee
Date of Birth of Nominee (if minor)
Name of Appointee (for minor nominee)
Relationship to minor nominee
Date :
Place :
(Signature of Branch Manager)

( Reporting Format on which branches would submit summary )
(TO BE SENT IN DUPLICATE BY ORIGINATING BRANCH TO NODAL BRANCH ALONGWITH
SUMMARY SHEET AS PER ANNEXURE-IVA)
-I
213
UCO BANK
FOR BRANCH USE

Date :
Affix Branch Seal
Membership No. :
Whether it is ensured that the applicant is not already a member
of UCO Bank Sanjeevan Bima Yojana Scheme :
YES
NO
Whether the applicants age is within the normal of the Scheme
YES
NO
Whether the applicant has nominated his/her nominee
YES
NO
Whether the applicant has paid initial premium for the Current Year
YES
NO
Authorised Branch Official
14
215
ANNEXURE -
UCO BANK
Head Office :
Format for Recording Insurance Premium

Under UCO SANJEEVAN Bima Yojana
1.
Branch Name
2.
Master Policy No.
3.
Uniform Branch Code No.
4.
Sl.
No.
Format
Membership
No.
:
Name
A/c. No.
Date of
Joining
Date of
Birth/Age
Premium
deducted
Nominee
Name
Rema
UCO BANK
UCO BANK
ANNEXURE - VI
UCO BANK
Head Office :

Claimants Statement Cum Discharge Form
PART A
1.
Name of Scheme : UCO SANJEEVAN Bima Yojana Group Insurance Scheme for deposit
Holders of UCO Bank.
2.
Master Policy No.
3.
Policy Holder Name
: UCO Bank Branch
4.
Name of Branch submitting Claim Format
5.
Name of Deceased Member
6.
Membership
7.
Account Number
8.
Date of joining the Scheme
9.
Date of Birth of Deceased Member
10. Date of Death of Deceased Member
11. Cause of Death
12. Particulars of Last Premium Paid to LIC
a)
Date of Debit to Account
b)
Amount Debited
c)Date of Payment to LIC

13. Name of Nominee
We hereby declare that information furnished above is true a complete to the best of our knowledge & belief.
Copies of certified death certificate & consent given by the deceased at the time of joining the scheme are
enclosed.
Place
Date
:
:
(For Master Policy Holder Authorised Signatory)

UCO Bank
Branch :
216
UCO BANK
Part-B
Discharge Receipt
Master Policy No. :
On behalf of UCO Bank, Branch I do hereby acknowledge receipt from Life
Insurance Corporation of India Rs. 1/2 lakh (Rupees one/ two lakh
only) in full satisfaction and discharge of our above claim.
Dated at this day of 200
Witness :
1
.
(For Master Policy Holder Authorised
Signatory) UCO Bank
Nodal Branch
Part-A to be completed by the Branch, which enrolled a collected the premium.

Part-B to be completed by the Regional Office / Nodal Branch.
Claim Intimation No. of LIC of India (for LIC use)
217
UCO BANK
ANNEXURE - VIIA
UCO BANK
Head Office :

(From Nodal Branch to LIC P&GS Unit)
Summary Sheet for the month of
1.
Master Policy No.
2.
Nodal Branch name
3.
Name of Regional Office
4.
Annual Renewal date
5.
Summary of remittances from the various Branch under

Regional Office
Sl.
No.
Branch Name
Branch Code
No. of
Members
Premium
Amount
TOTAL :
6. Amount remitted through : DD/Pay Order

For
: Life Insurance Corporation of India
Payable at
DD/Pay Order No.
Date
Signature
Date :
Encl. : a) Copy of personal record sheet of each depositor (IVB)
b) Branch-wise summary sheet (IVA)
-I
218
UCO BANK
ANNEXURE - VIIB
UCO BANK
Head Office :

Name of Nodal Branch :
Name of Region
MASTER POLICY NO. :

To
The Branch Manager
Life Insurance Corporation of India
............................................................ P&GS Unit (Pension & Group Scheme)
............................................................
............................................................
Dear Sir,
Re : Remittance of premium of Rs. ..For
the month of under the Depositors
Group Insurance Scheme UCO SANJEEVAN BIMA YOJANA
Enclosed please find herewith a Pay Order/Demand Draft for Rs. (Rupees
only) bearing No.
dated for the month of towards premium amount
collected from different branches under the depositors Group Insurance Scheme UCO SANJEEVAN BIMA
YOJNA.
We also enclose herewith xerox copies of individual membership particulars & branch-wise summary
sheets of each branches for your perusal & record.
Kindly acknowledge the receipt
Yours faithfully,
( Branch Manager )
Encl. : as stated
-I
219
UCO BANK
ANNEXURE - VIII
UCO BANK
Head Office :
Tie-up arrangement between our Nodal Branches with

respective P&GS units of LIC of India
Name of Nodal Branch of
UCO Bank with Address
Name of P&GS unit of LIC of

India with Address
MUMBAI
MUMBAI
Mumbai D. N. Road Branch,

UCO Bank,
UCO Bank Buildings,
D.N. Road,
Mumbai (Maharashtra)
Pin-400 023
NEW DELHI
New Delhi Parliament Street,
UCO Bank,
(P.B. No. 365)
5, Parliament Street
New Delhi-110 001
CHENNAI
Chennai (Main) Branch,
UCO Bank, (P.B. No. 276)
1st floor, 328, Thambu Chetty Street
Chennai (Tamil Nadu)
Pin : 600 001
KOLKATA
Kolkata Main Branch
UCO Bank,
10, B.T.M. Sarani,
Kolkata-700 001
Senior Branch Manager (P&GS)

LIC of India, P & GS Unit-II,
Plot No. 112, Sion Koliwada Road
Sion (E)
Mumbai-400 022
NEW DELHI
Branch Manager (P&GS)
LIC of India, P&GS
Jeevan Prakash, P.B. No. 102
25, Kasturba Gandhi Marg,
New Delhi-110 001
CHENNAI
Manager (P&GS)
LIC of India, P&GS Unit,
LIC Building, 102, Anna Salai
P.B. No. 324,
Chennai-600 002
KOLKATA
Manager (P&GS)
LIC of India, P&GS Unit,
Jeevan Prakash, KMDO-I,
Kolkata-700 072
220
UCO BANK
ANNEXURE - IX
UCO BANK
Head Office :
Dear Customer,
Please accept the seasons greetings from UCO Bank, a leading public sector organisation with perfect blend
of tradition and technology.
We value your continued patronage and are constantly endeavoring to consolidate distin-guished business
relationship through value addition to our existing services.
We are now pleased to add Life Insurance coverage to our list of services. UCO Bank Sanjeevan Bima
Yojana is an innovative Group Life Insurance Scheme offered to customers to UCO Bank, who maintain
personal savings and current accounts with us. We have entered into an agreement with Life Insurance
Corporation of India, Indias largest life Insurance provider for a Group Insurance Scheme, where we shall
be acting as a Master Policyholder.
In this enclosed Salient Features you will find detailed information of the Scheme which we are sure will be
of immense benefit to you and your family
We request to you to avail of this opportunity at the earliest. Please complete the enclosed Consent-cumAuthorisation letter and return it to the Branch where you maintain your account. As a MASTER POLICY
HOLDER, We undertake the responsibility of collecting the premium from your account and remittance of
premium to LIC of India and forwarding claim papers to LIC of India, whenever required for their
consideration, collection of claim amount from LIC and payment of the same to the nominee.
While UCO Bank will be responsible for extension of Insurance by way of value addition to your
deposit, claims of Insurance will be settled by LIC of India only. UCO Bank will have the status of
MASTER POLICYHOLDER only and not that of an Agent.
Please inform your friends and relatives of this facility so that they may also have the privilege of the
additional benefit.
Assure you of our personal care and looking forward to your continued patronage.
Yours faithfully,
221
ANNEXURE
X
UCO BANK
Head Office :
FORMAT FOR PROGRESS REPORT FOR INSURANCE

LINKED
DEPOSIT SCHEME UCO SANJEEVAN BIMA YOJNA
No. of old A/c.
Linked with Group
Insurance (GI)
No. of New A/c.

Linked with Group
Insurance (GI)
earned
Amount of
commission/
Administrative
Expenses
Cumulative Position
of Old A/c. linked
with GI
Cumulative Position
of New A/c. Linked
with GI
expenses earned
C
o
a
UCO BANK
222
UCO BANK
Life Insurance Corporation of India

PENSION & GROUP SCHEMES DEPARTMENT
F. NO. 6200
Master Proposal for Group Insurance Scheme for the eligible Deposit Holders of UCO Bank
1. Name of the Proposer
UCO BANK
REGIONAL OFFICE
Address
2. Nature of Business
BANKING
3. a) Is the Scheme to be administered by the

Trustees ?
NO
b) Is the Scheme to be approved under any

of the Section of Income Tax Act, 1961
If so, which ?
c) The Scheme to be described as
NO
UCO Sanjeevan Bima YojanaGroup Insurance
Scheme for the Deposit Holders of UCO Bank
4. Does the Proposed Scheme replace any of
NO
the Existing benefits ? If so, give details.

5. Date of Commencement of Scheme
6. What are the conditions of eligibility for
membership of the Scheme ?
7. a) Are a particular section of deposit
holders to be excluded? If so, give details.
b) Participation by eligible Account holders
the scheme.
As per para 3 (a) of the Rules

Non Personal Account holders
All opted account holders found eligible to join
8. What is the normal exit age ?
On attaining 60 years.
9. Contributions
Fully by the members
10. Mode of payment of Contribution
Monthly, not later than 5th of ever month, for

the yearly/proportionate contributions collected
from the members in the preceding month.
11. Was a proposal for Scheme made earlier to

any other office of the Corporation ? If so,
please give details
12. State briefly the benefits required
a) On death of the deposit holder due to
natural causes
b) Death due to accident
NIL
Rs. 1,00,000 (with a lien clause of 45 days from

the date of joining)
Rs. 2,00,000
As per Rules of the Scheme
223
UCO BANK
DECLARATION
We request the Life Insurance Corporation of India to issue a Master Policy on the basis of the information furnished by
us and such further information which the Corporation may require us to give for purpose of the Scheme referred in
Column 3(c) above and to effect the necessary assurances thereunder in accordance with the provisions of the Rules of
the said Scheme, certified true copy of which is attached hereto.
We propose for assurances on the lives of the deposit holders in accordance with the Rule of the Scheme.
It is hereby declared that we undertake and bind ourselves to furnish to the Corporation full particulars as may be
necessary of all statements, declarations by the eligible Deposit holder, reports and certificates in respect of every
person on whose life the assurance are to be effected under the Master policy in the form and manner required by the
Corporation.
We warrant the truth of the statements and particulars herein contained and agree that these statements and particulars
whether furnished by us, or by the Deposit holder shall form the basis of the Assurances hereby proposed on the lives of
the above mentioned deposit holders with the Life Insurance Corporation of India.
We agree to call for and maintain record of nominations of the members covered under the scheme.
We agree that this proposal together with the particulars, statements and declarations by the eligible Deposit holders or
ourselves shall form the basis of the Master Policy.
We further agree that if any misstatement or untrue averment in respect of any of the above mentioned Deposit holder is
contained in any relevant statement, information or particulars furnished to the Corporation, the particular assurance on
the life of the Deposit holders (in respect of which a misstatement or untrue avernment has been made) shall be
rendered voidable by the Life Insurance Corporation of India.
We also agree that the assurances proposed shall not be binding until they have been accepted by the said Corporation
and until the amount of premium shall have been paid a Summary of Section 45 of Insurance Act, 1938.
No policy of life insurance shall after the expiry of two years from the date on which it was effected, be called in
question by an insurer on the ground that a statement made in the proposal for insurance or in any report of a medical
officer, or referee or friend of the insured or in any other document leading to the issue of the policy was inaccurate or
false unless the insurer shows that such statement (was on a material matter or suppressed facts which it was material to
disclose and that it was fraudulently made) by the policy-holder and that the policy-holder knew at the time of making it
that the statement was false (or that it suppressed facts which it was material to disclose).
Date :
( Signature on behalf of the proposer )
Place :
. Bank
Regional Office
Signature of Witness :
Address :
_____ H H H _____
PART-I
224
CHAPTER-VI
TAX
DEDUC
TION
AT
SOURC
E
(TDS)
ON
INTER
EST
ON TIME
DEPOSITS
It became a
statutory
obligation on the
part of Banking
Companies
(Banks) to deduct
tax at source from
interest on Time
Deposits under the
amended provision
of section 194A of
Income Tax Act
1961 with effect
from
through
1/7/1995
Finance
Act 1995.
TIME
DEPOSITS
as
referred to above
include all Term
Deposits
excluding
Recurring
Deposits.
NB : So far the
deposit
schemes of
our
Bank
are
concerned,
all
Term
Deposit
schemes
excluding
Recurring
Deposit and
Deposit and
Deposit
under Laghu
Bachat
Yojna
are
subject
to
the
provision of
TDS.
Deposits
under UCO
Laxmi
Yojna
are
coming
under
the
purview
TDS,
of
even
though it is
a
modified
version
of
Recurring
Deposit
Scheme.
2 . QUANTUM
OF INTEREST
ON WHICH
TDS WILL BE
APPLICABLE
From 1/6/2001
TDS is applicable
on
interest
Time
on
Deposit,
when the amount

of
interest
exceeded
Rs.
5,000/- in a single
financial year.
3 . RATE OF
TDS
Type of Depositor
Rate of TDS
1.
Residents
10% of inte
2.
Domestic Company
(other than company)
20% of inte
NB : Surcharge as
applicable during
a financial year
shall also be added
to the above rate.
4.
TDS IS NOT APPLICABLE IN THE FOLLOWING CASES
1.
If the aggregate payment of interest to a depositor on Time Deposits he

financial year does not exceed Rs. 5000/- .
2.
Payment of Interest on deposit on deposit other than Time Deposits.
3.
Payment of Discount on Certificate of Deposit.
4.
Payment of interest to Banks including Co-operative Banks.
5.
Payment of interest to Central and State Financial Corporations.
6.
Payment of interest to LIC of India.
7.
Payment of Interest to UTI
8.
Payment of interest to GIC and their subsidiaries.
UCO BANK
9. Payment of interest to any company or co-operative Society carrying on the business of Insurance.
10. Payment to such other institution, association or body or class of institutions, associations or bodies
which the Central Government may notify in this behalf in the Official Gazette.
5 . IMPORTANT POINTS TO TAKE A NOTE

1. Time Deposits which have been received by the branch either by way of fresh deposit or by way of
renewal of old deposit on or after 01/07/1995 are subject to TDS from the date of such receipt or
renewal as the case may be.
2. The Term Deposits, which became overdue by 30/6/1995, had they been renewed on the due date i.e. on or
before 30/06/1995, it would not have attracted TDS. But, in many cases, due to failure on the part of
depositors to come to Bank on due date for renewal, the deposits remain overdue for renewal. If such
overdue Term Deposits are renewed latest by 31/12/1995, the same would not attract TDS. But, when
these overdue Term Deposits are renewed on or after 01/01/1996, they are subject to TDS despite the
fact that such Term Deposit takes effect from a date prior to 01/07/1995.
3. Time Deposits which existed in the branch prior to 01/07/1995 are outside the purview; of Deduction of
Tax at Source.
4. TDS is not slab oriented. It means, if the amount of interest payable/paid during a financial year does not
exceed Rs. 5,000/-, no tax is to be deducted. But, if it exceeds Rs. 5,000/- then tax is to be deducted as
per applicable rate on the whole amount of interest payable/paid.
5. Since TDS is to be applied on the amount of interest payable, the interest provided for KY and DC account
is also subject to TDS as would be credited to the account at the end of financial year.
6. TDS is applicable on the aggregate amount of interest paid/payable within a financial year on per
depositor per branch basis.
7. When in a Time Deposit account there are more than one depositor, the first named depositor is liable for
TDS.
8. Deduction of Tax on interest is statutory and is independent of depositors consent or denial, except in the
following cases.
6 . BRANCHES NEED NOT DEDUCT TAX

1. Where a resident Individual (depositor) has furnished with the Bank is declaration in duplicate in Form
15H (U/s 197 (1A) of IT Act 1961) to the effect that the tax on his estimated
226
UCO BANK
total income, including the interest amount during the relevant financial year will be
NIL
2.
Where the depositor (other than company) has furnished a Certificate in Form No. 15AA
(u/s 197 of IT Act 1961) from the Income Tax Authorities for deduction of tax at lower rate
or no deduction of tax at source.
3.
Where the depositor is a HUF/Trust/Local Authority/Association of personal/Bodies of

Individuals etc. and they submit Form No. 15A (Ref : CHO/SUA/26/92 dated 16/3/1992)
7.
WHEN TAX IS TO BE DEDUCTED
1.
As and when interest is paid to the depositor or credited to his account either at maturity
or at foreclosure of Time Deposit.
2.
Interest less than the taxable amount is paid on different dates on different occasions,
but when the interest amount, so paid exceeds Rs. 5000/- in aggregate during a Financial
Year.
3.
When a Time Deposit is renewed along with the total interest payable thereon (it would
be treated as if the amount of interest was paid on that date)
4.
For cumulative Fixed Deposits like KY and DC, when the interest is credited to individual
accounts in RCL on accrual basis which is usually done on last working day of the year.
8.
FORM 15-H AND ROLE OF BRANCH
1.
Branch is not responsible for the correctness of the declaration.
2.
But, it is to be ensured that the declaration contains full name, address and signature
(as per specimen signature recorded at the branch) of the depositor.
3.
Branch has to fill up the Part-II of 15H and the head of the branch must put his seal
and signature at the appropriate place.
4.
A copy of the 15H must be forwarded to the concerned Chief Commissioner/

Commissioner of Income Tax before 7th day of succeeding month, retaining another
copy as branch record.
For the above purpose, all the 15H declarations received in a month should be forwarded
to the concerned IT authority in a bunch so as to reach them before 7th days of
succeeding month.
5.
A register should be maintained for recording all the 15H received and forwarded to the
IT Authorities. It will help the branch in submitting the Annual Return, Form 27A and
future scrutiny by IT Authorities.
227
UCO BANK
9 . ACCOUNTING PROCEDURE
After deduction of tax, the amount should be credited to TDS account ( a suspense Account) a new GL Head,
created following HO Circular No. CHO/SUA/49/2001 dated 22/11/2001. All other particulars must be
entered into the subsidiary Register, named as TDS Register. The amount of tax so kept in the Suspense
Account must be deposited into Government Account within the stipulated time as mentioned below.
1 0 . TAX DEDUCTION ACCOUNT NUMBER (TAN)

In terms of the provisions of section 203A of the Income Tax Act 1961, every branch deducting income tax
under any provision of IT Act 1961 (TDS from salary, interest or payment to any contractor, payment of
commission to any agent etc.) is required to obtain a Tax Deduction Account Number (TAN) from the
concerned Assessing Officer and to quote the same in the TDS certificate, forms, challans and returns etc.
relating to TDS (Ref. HO Circular No. CHO/ PMG/11/89 dated 20.04.89) The branches, which are yet to
obtain TAN, should apply to the concerned Assessing Officer (AO) in Form No. 49B and obtain the TAN. As
per the provision of IT Act 1961, such application in Form 49B has to be made within one month from the
end of the month in which tax under TDS was first deducted.
1 1 . DEPOSIT OF TAX IN GOVERNMENT ACCOUNT

Tax deducted at source should be deposited to the credit of Government account within the time limit as
mentioned below.
1.
Tax deducted during a month shall be deposited within one week of the succeeding
month.
2.
Tax deducted on the last working day of the year be deposited within two months
i.e. by 31st May of the same year.
The tax is to be deposited into Government Account by filling up prescribed IT. Challan at the authorised
bank branches. The prescribed challan Numbers are as under.
Challan No.
269
For TDS, recovered from Companies.
Challan No.
271
For TDS recovered from other than Companies.
1 2 . ISSUANCE OF CERTIFICATE FOR TDS

1. It is obligatory on the part of the branch to issue TDS certificate in form 16A for the amount of tax
deducted within a period of one month from the end of the month during which the tax has been
deducted.
2. But, if tax is deducted on the last working day of the year, Form 16A is to be issued within two moths i.e.
by 31st May of the year.
228
UCO BANK
3. For issuance of Form 16A, no formal request either oral or by writing is required from the depositors.
4. By 10th day of April every year, the branches will send a letter to the depositor at his last recorded address
with the Bank intimating that the TDS certificate is ready and should be collected from the branch by
21st April positively. A draft copy of the letter is enclosed herewith as Annexure-V.
In case the depositor does not collect the certificate personally by 21st April, the same shall be
despatched in his last recorded address by Registered Post with A/D. The cost of postage, however, be
debited to depositors account. (Ref : CHO/SUA/01/99-2000 dated 11/01/2000)
5. If original form 16A is lost by the depositor, a duplicate certificate on plain paper giving therein all the
details, as contained in the original Form 16A may be issued by the branch.
6. Where more than one Form 16A has been issued to a depositor during a financial year, a consolidated
Form 16A for the total amount of tax deducted during the financial year may be issued at the request
of the depositor.
1 3 . SUBMISSION OF ANNUAL RETURNS

Annual Return when tax is deducted at source and deposited into Government account Form 26A.
Annual Return when tax is not deducted due to 15H declaration Form 27A.
Form 26A has to be submitted with the concerned IT Assessing Officer by 30th June of the concerned
Financial Year.
Form 27A has to be submitted with IT Authorities within 30 days from the end of the Financial Year.
1 4 . BANKS POWER TO MAKE ADJUSTMENT

In terms of sub section 4 of section 194-A of IT Act 1961 Banks may, at the time of making any deduction,
increase or decrease the amount of tax due for the purpose of making adjustment of any excess or short
deduction, already made by the Bank in earlier occasion, but during the same financial year in respect of
same depositor.
1 5 . REFUND OF TAX
Banks do not enjoy any power to refund any amount of tax, already deducted and paid into Government
account. This situation arises due to fore-closure of a term deposit, resulting in reduction of rate of interest on
deposit.
229
UCO BANK
In such a case, Branches will provide Form 16A to the concerned depositor and the depositor will claim
refund from IT Department as per prevailing rules.
1 6 . PENALTY FOR NON COMPLIANCE

A. Failure to deduct tax or delay in depositing the tax deducted into the Government account will entail;
i)
Penalty equal to the amount of tax, which has been short deducted (u/s 271 C)
ii) Interest @ 15% per annum from the date of deduction of tax to the date of actual deposit into
Government account (u/s 201 (1A).
iii) Punishable with rigorous imprisonment of minimum period of three month and maximum of
seven years and with fine. (u/s 276-B)
B. Failure to mention TAN is Challan/Returns/Documents will entail;
Penalty upto Rs. 5000/- (u/s 272 BB)
C. Failure to submit Annual Returns. (Form 26A and Form 27A) and copies of Form 15H in time will entail;
Penalty not less than Rs. 100/- per day and may extend to Rs. 200/- per day. (u/s 272 A(2)
D. Failure to provide Form 16A within the stipulated time will entail;
Penalty of not less than Rs. 100/- which may extend to Rs. 200/- per day for the delayed period subject
to the limit of the amount of tax deducted. (u/s 272-A(2)
ANNEXURE :
I : Form 15H
II : Form 16A
III : Form 26A
IV : Form 27A
V : Draft Letter to send to depositor to collect Form 16A.
230
UCO BANK
REGISTERED
ANNEXURE - I
FOLIO NO. :
17.
FORM NO. 15H

[ See Rule 29C (3) ]
Declaration under section 1974 (1A) of the Income Tax Act, 1961 to be made by a person (not being a
company or a firm) claiming receipt of interest on securities and interest other than Interest on securities or
income in respect of units without deduction of tax.
PART - I
I/We ...................................................................................................................................................................
son/ daughter/ wife .........................................................................................................................................
of ...................................................................................................................... resident of ..............................
@....................................................................................................................... do hereby declare
1. that the securities/sums, particulars of which are given below stand in my/our name beneficially belong to
me/us, any other person under sections 60 to 64 of the Income Tax Act 1961.
TABLE-I
Name and Address
of the person to
whom the same are
given on interest
Amount of
such sums
Date on which
sums were given
on interest
Period for which

such sums were
given on interest
Rate of
interest
Number of
units
Class of units
and face value of
each unit
Distinctive
number of
units
Income in
respect of
units
TABLE-II
Name and address
of the Mutual Fund
TABLE-III
Description of
securities
Number of
Securities
Date(s) of
Securities
Amount
of Securities
Date(s) on which the

secutities were acquired
by the declarant
231
UCO BANK
2.
that
my/our present occupation is
3. that the tax on
may/our estimated total income including the interest on securities, interest other than
H
interest on securities and/or income in respect of units referred to in paragraph 1 computed in

accordance with the provisions of the income Tax Act 1961 for the previous year ending 31st March
2001, relevant to the assessment year 2001-02 will be nil.
4.
that I/we have not been assessed to Income Tax at any time in the past but
jurisdiction of the Chief Commissioner or Commissioner of Income Tax
OR
I/we fall within the
That I was/we were last assessed to Income Tax for the assessment year by the
Assessing Officer Circle/Ward/District and the permanent account number
H
allotted to me/us is
VERIFICATION
H
I/We hereby declare that the contents of paragraphs 1 to 4 are true to the
H
best of my/our knowledge and belief and nothing has been concealed therein.
Verified today, the Day of 200
Place
Signature of Declarant
PART-II
( FOR USE BY THE PERSON TO WHOM THE DECLARATION IS FURNISHED )
1. Name and address of the person responsible for paying interest on sums or income in respect of units, as
the case may be mentioned in paragraph 1 of declaration.
2.
Date on which the declaration was furnished by the declarant
3. Period for which interest or income in respect of units, as the case may be, is credited/ paid
4. Amount of interest or income in respect of units, as the case may be

5.
Rate at which interest or income in respect of units, as the case may be, is credited/paid
Forwarded to the Chief Commissioner or Commissioner of Income Tax
Place :
Signature of the person

responsible for paying interest on
securities/interest other than
H
interest on securities/ income in

Date :
respect of units
232
UCO BANK
NOTES :
1.
@ Give complete postal address
2. The declaration should be furnished in duplicate

3.
4.
Delete whichever is not applicable

H
indicate the capacity in which the declaration is furnished on behalf of a Hindu Undivided Family,
association of persons etc.
5. Before signing the verification, the declarant should satisfy himself that the information furnished in the
declaration is true, correct and complete in all respects.
6. Any person making a false statement in the declaration shall be liable to be prosecuted under section 277
of the Income Tax Act 1961 and on conviction be punishable :
a) In a case where the amount of tax, which would have been evaded if the statement
or account had been accepted as true, exceeds one hundred thousand rupees, with rigorous
imprisonment for a term which shall not be less than six months but which may extend, to seven
years and with fine.
b) In any other case with rigorous imprisonment for a term which shall not be less than three
months but which may extend to three years and with fine.
________
233
UCO BANK
18.
ANNEXURE - II
FORM NO. 16A

[ See Rule 31 (1) (b) ]
CERTIFICATION OF DEDUCTION OF TAX AT SOURCE UNDER SECTION 203 OF THE INCOME
TAX ACT 1961
Name and address of the person
deducting tax
TDS Circle where Annual Return

under section 206 is to be
delivered

to whom payment made or in
whose account it is credited
TAX DEDUCTION A/C. NO. OF

THE DEDUCTOR
NATURE OF PAYMENT
PAN/GIR NO. OF THE PAYEE
PAN/GIR NO. OF THE
FOR THE PERIOD TO
DEDUCTOR
DETAILS OF PAYMENT, TAX DEDUCTION AND DEPOSIT OF TAX INTO CENTRAL

GOVERNMENT ACCOUNT
Date of
Payment/
Credit
Amount
paid/credited
Rs.
Amount of
Income tax
deducted
(Rs.)
Rate at
which
deducted
Government
Date & Challan No.

of deposit of tax
into Central
deposited
Account
Name of Bank
and branch
where tax
Certified that a sum of Rs. (in words) has been

deducted at source and paid to the credit of the Central Government as per details given above.
Place :
Signature of person responsible for deduction of tax
Date :
Full Name
Designation
234
UCO BANK
19.
ANNEXURE - III
FORM NO. 26A

( See Rule 37 )
Annual return of deduction of tax from interest other than Interest on securities under section 206 of
Income Tax Act 1961, for the year ending 31st March, 20
Permanent Account No.
Tax Deduction Account No.
1.

responsible for paying any income by way
of interest other than Interest on
Securities
2.
Amount of tax deducted
Income Tax ............................................

Surcharge ..............................................
Total .........................................................
3.
Details of interest credited/paid during the year and of tax deducted at source
Name &
Address of
the payee
PA
NO/AO
where
payee is
assessable
Amount of
interest
credited/paid
during the
year
Date on
which
interest
credited/paid
Amount of
tax
deducted
Date on
which tax
deducted
TDS
certificate
No.
a) Companies
1
.
4. etc.
Total (a)
(b) Person
Other than
companies
1
.
4. etc.
Total (b)
@ Grand Total
(a) + (b)
235
UCO BANK
4.
Details of tax paid to the credit of the Central Government
Sl. No.
Amount of
tax
Date(s) of
payment
Challan No.
Name and address of Bank
Certified that :
1. This return contains a complete list of persons to whom interest or aggregate interest exceeding Rs.
10,000/- (regardless of any interest received from them) was paid during the period 1st April 20
to 31st March, 20
2. All the particulars furnished above are correct and complete.
Place :
Date :
Name and signature of the person
responsible for deducting tax at source
Designation
236
UCO BANK
20.
ANNEXURE - IV
FORM NO. 27A

( See Rule 37A )
Annual return under section 206A of the Income Tax Act 1961 of Interest other than Interest on Securities
credited/paid during the financial year 20 without deduction of tax.
responsible for paying the income
Sl. No.
(1)

to whom the interest was credited/
paid without deduction during the
financial year on his furnishing an
affidavit or statement under the
proviso to section 194A (1)
Amount
of
interest Date(s) of credit or
credited to the account or
payment
part to
the
person
mentioned
in column 2
during the financial year
(2)
(3)
(4)
1
2
3
I certify that
i)
the above statement contains a complete list of every person to whose account interest
other than interest on securities was credited or to whom such interest was paid during the financial
year 20 20 without deduction of tax on his furnishing an affidavit or statement under the
proviso to section 194A(1).
ii) all the particulars furnished above are correct and complete.
Signature of the person by whom the return is delivered

Place :
Date :
237
UCO BANK
ANNEXURE - II
Shri .....................................................
............................................................
............................................................
Dear Sir,
Re : TDS Certificate
The TDS Certificate relating to your Account No. maintained with our Bank for the
year is ready with us. Kindly call on us on any working day during working hours and
collect the same from the Deposit Department.
Kindly note in case you do not collect the same by 21st of this month, we shall be despatching the same by
Regd. Post with AD at your last known recorded address with us. The cost of registration will be debited to
your account.
Assuring you of our best services at all times.
Yours faithfully,
Manager
______
______
238
UCO BANK
SPACE FOR
ADDITION /
ALTERATIONS
MANUAL OF
INSTRUCTIONS
VOL. 4
(DEPOSITS)
PART-I
239
UCO BANK
SPACE FOR
ADDITION /
ALTERATIONS
MANUAL OF
INSTRUCTIONS
VOL. 4
(DEPOSITS)
PART-I
240
UCO BANK
SPACE FOR
ADDITION /
ALTERATIONS
MANUAL OF
INSTRUCTIONS
VOL. 4
(DEPOSITS)
PART-I
241
UCO BANK
SPACE FOR
ADDITION /
ALTERATIONS
MANUAL OF
INSTRUCTIONS
VOL. 4
(DEPOSITS)
PART-I
242
UCO BANK
SPACE FOR
ADDITION /
ALTERATIONS
MANUAL OF
INSTRUCTIONS
VOL. 4
(DEPOSITS)
PART-I
243
UCO BANK
SPACE FOR
ADDITION /
ALTERATIONS
MANUAL OF
INSTRUCTIONS
VOL. 4
(DEPOSITS)
PART-I
244
UCO BANK
SPACE FOR
ADDITION /
ALTERATIONS
MANUAL OF
INSTRUCTIONS
VOL. 4
(DEPOSITS)
PART-I
245
UCO BANK
SPACE FOR
ADDITION /
ALTERATIONS
MANUAL OF
INSTRUCTIONS
VOL. 4
(DEPOSITS)
PART-I
246
UCO BANK
SPACE FOR
ADDITION /
ALTERATIONS
MANUAL OF
INSTRUCTIONS
VOL. 4
(DEPOSITS)
PART-I
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UCO BANK
SPACE FOR
ADDITION /
ALTERATIONS
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Uco Deposit Manual

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Uco Deposit Manual

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( For Internal use only )

UPDATED UPTO 30.11.2006

Deposits (Part-I, II & III)

Sundries & Accounts

Volume-VI (I & II)

Advance Priority Sector-Agriculture

Advance PS (SSI & Others)

PMRY / SGSRY / Rural Housing Finance

SAVINGS BANK DEPOSITS

FIXED DEPOSITS, KUBER YOJNA DEPOSITS &

NEW DEPOSIT SCHEMES

TAX DEDUCTION AT SOURCE (TDS) ON

Annexure-II : A/c. Opening Form (For Individuals) DS-1A (Combined)......................................48

11. Provision of interest at quarterly closing...................................................................................100

4. TDS is not applicable in following cases................................................................................... 225

3.8 Who can introduce a Current Account :

(Name of the customer)

I am informed that the party is residing/carrying on business there since years

For UCO Bank

4 . PROPER INFORMATION IN ACCOUNT OPENING FORM :

proprietor/partners/directors are to be mentioned.

5 . KNOW YOUR CUSTOMER

Features to be verified and documents that may be obtained from customers

MANUAL OF INSTRUCTIONS VOL. 4 (DEPOSITS) PART-I

(i) Certificate of incorporation and memorandum &

Mailing address of the company

account and list of officials authorized to operate their

account (iii) Identification of authorized signatories

Accounts of partnership firms

(i) Registration Certificate, if registered (ii) Partnership

Deed (iii) Power of Attorney granted to a partner or

Accounts of trusts & foundations

(i) Certificate of registration, if registered (ii) Power of

of the settlers, beneficiaries and those holding Power of

foundation/association (v) Telephone bill.

MANUAL OF INSTRUCTIONS VOL. 4 (DEPOSITS) PART-I

unusual pattern of transactions, which have no apparent underlying economic or business

6 . REQUIREMENT OF PERMANENT ACCOUNT NUMBER (PAN) OR GENERAL

7 . SOME IMPORTANT INSTRUCTIONS, TO BE ADHERED

8 . OPENING OF CURRENT ACCOUNTS

medium size branches, Manager should authorised to

accounts. In bigger branches, this work may be handled by

Minimum Balance Schedule : Current Account

MANUAL OF INSTRUCTIONS VOL. 4 (DEPOSITS) PART-I

MANUAL OF INSTRUCTIONS VOL. 4 (DEPOSITS) PART-I

MANUAL OF INSTRUCTIONS VOL. 4 (DEPOSITS) PART-I

CURRENT ACCOUNT PRODUCTS

CURRENT ACCOUNT PRODUCTS

Instant credit of outstation

Standing Instruction Charges

Discount (Branch Managers

upto Rs. 15,000

Upto Rs. 15,000 in 1st yr &

upto Rs. 25,000

Rs. 56/- per cheque

Rs. 12/- per transaction

Rs. 30/- per visit

Home Delivery of DDs/

9 . DIFFERENT TYPES OF CUSTOMER

Sole Proprietory Accounts :

MANUAL OF INSTRUCTIONS VOL. 4 (DEPOSITS) PART-I

For Laxmi Traders