Financial services The term Financial Service in a broad sense means mobilising and allocating savings.

Thus, it includes all activities involved in the transformation of saving into investment. The financial service can also be called financial intermediation. Financial intermediation is a process by which funds are mobilised from a large number of savers and make them available to all those who are in need of it and particularly to corporate customers. Thus, financial services sector is a key area and it is very vital for industrial developments. A service is an equivalent of an economic good that is intangible. The person or firm offering the service boosts the ability, resources skills and or experience to offer a balanced satisfaction of client need while at the same time remaining relevant and functional in an economy. Financial services therefore are those services that are offered by the institutions, which deal with the management of money and other factors that relate to the flow of money in an economy. To clarify on this, a service and the financial service provider possess various characteristics that make the service distinct. For instance, the concept of intangibility also referred to as insubstantiality, perishability as regards to time and reversal of a service, inseparability, simultaneity and variability which refers to the distinctiveness or uniqueness of a given financial service. The basic objectives of management in financial services are cost effectiveness, efficiency in service quality and profitability. In this service sector quality counts more than the quantity. Management of financial services requires a combination of talents in marketing area, finance area and in HRD capital market deals with raising of finance, arranging for loans, dealing in

capital and securities etc. But being a service sector market management a human component is vital for its operation. It can be correctly put that a financial service refers to those facilities such as savings accounts, leasing, money transfers, checking accounts, confirming among others that are offered by players or organizations in the finance industry. These players include banks, credit unions, stock brokerage firms, insurance firms, and foreign exchange among others. Financial services are many, wide and varied hence many institutions or organizations are involved in offering them. Other well known financial services include debt resolution, private equity, intermediation venture capital conglomerates as well as both private and public equity. The above directly implies that financial services in general relate to all those issues which affect the circulation of money and how they interrelate.

Definition (a) A financial service is any service of a financial nature offered by a financial service supplier of a Party. Financial services include all insurance and insurance-related services, and all banking and other financial services (excluding insurance). Financial services include the following activities: Insurance and insurance-related services (i) Direct insurance (including co-insurance): (A) life (B) non-life (ii) Reinsurance and retrocession; (iii) Insurance intermediation, such as brokerage and agency; (iv) Services auxiliary to insurance, such as consultancy, actuarial, risk assessment and claim settlement services.

Banking and other financial services (excluding insurance) (v) Acceptance of deposits and other repayable funds from the Public (vi) Lending of all types, including consumer credit, mortgage credit, factoring and financing of commercial transaction; (vii) Financial leasing; (viii) All payment and money transmission services, including credit, charge and debit cards, travellers cheques and bankers drafts; (ix) Guarantees and commitments; (x) Trading for own account or for account of customers, whether on an exchange, in an over-the-counter market or otherwise, the following: (A) money market instruments (including cheques, bills, certificates of deposits); (B) foreign exchange; (C) derivative products including, but not limited to, futures and options; (D) exchange rate and interest rate instruments, including products such as swaps, forward rate agreements; (E) transferable securities; (F) other negotiable instruments and financial assets, including bullion. (xi) Participation in issues of all kinds o f securities, including underwriting and placement as agent (whether publicly or privately) and provision of services related to such issues; (xii) Money broking; (xiii) Asset management, such as cash or portfolio management, all forms of collective investment management, pension fund management, custodial, depository and trust services; (xiv) Settlement and clearing services for financial assets, including

securities, derivative products, and other negotiable instruments; (xv) Provision and transfer of financial information, and financial data processing and related software by suppliers of other financial services; (xvi) Advisory, intermediation and other auxiliary financial services on all the activities listed in subparagraphs (v) through (xv), including credit reference and analysis, investment and portfolio research and advice, advice on acquisitions and on corporate restructuring and strategy

Financial services can be defined as the products and services offered by institutions like banks of various kinds for the facilitation of various financial transactions and other related activities in the world of finance like loans, insurance, credit cards, investment opportunities and money management as well as providing information on the stock market and other issues like market trends Financial services refer to services provided by the finance industry. The finance industry encompasses a broad range of organizations that deal with the management of money. Among these organizations are banks, credit card companies, insurance companies, consumer finance companies, stock brokerages, investment funds and some government sponsored enterprises. Functions of financial services 1. 2. 3. 4. Facilitating transactions (exchange of goods and services) in the economy. Mobilizing savings (for which the outlets would otherwise be much more limited). Allocating capital funds (notably to finance productive investment). Monitoring managers (so that the funds allocated will be spent as envisaged).

5. Transforming risk (reducing it through aggregation and enabling it to be carried by those more willing to bear it). Characterstics and Features of Financial Services i) Customer-Specific: Financial services are usually customer focused. The firms providing these services, study the needs of their customers in detail before deciding their financial strategy, giving due regard to costs, liquidity and maturity considerations. Financial services firms continuously remain in touch with their customers, so that they can design products which can cater to the specific needs of their customers. The providers of financial services constantly carry out market surveys, so they can offer new products much ahead of need and impending legislation. Newer technologies are being used to introduce innovative, customer

friendly products and services which clearly indicate that the concentration of the providers of financial services is on generating firm/customer specific services. ii) Intangibility: In a highly competitive global environment brand image is very crucial. Unless the financial institutions providing financial products and services have good image, enjoying the confidence of their clients, they may not be successful. Thus institutions have to focus on the quality and innovativeness of their services to build up their credibility. iii) Concomitant: Production of financial services and supply of these services have to be concomitant. Both these functions i.e. production of new and innovative financial services and supplying of these services are to be performed simultaneously. iv) Tendency to Perish: Unlike any other service, financial services do tend to perish and hence cannot be stored. They have to be supplied as required by the customers. Hence financial institutions have to ensure a proper synchronization of demand and supply. v) People based services: Marketing of financial services has to be people intensive and hence its subjected to variability of performance or quality of service. The personnel in financial services organisation need to be selected on the basis of their suitability and trained properly, so that they can perform their activities efficiently and effectively. vi) Market Dynamics: The market dynamics depends to a great extent, on socioeconomic changes such as disposable income, standard of living and educational changes related to the various classes of customers. Therefore financial services have to be constantly redefined and refined taking into consideration the market dynamics. The institutions providing financial services, while evolving new services could be proactive in visualising in advance what the market wants, or being reactive to the needs and wants of their customers. Scope of Financial Services Financial services cover a wide range of activities. They can be broadly classified into two, namely: i. ii. Traditional. Activities Modern activities.

i. Traditional Activities Traditionally, the financial intermediaries have been rendering a wide range of services encompassing both capital and money market activities. They can be grouped under two heads, viz. 1. Fund based activities and 2. Non-fund based activities. Fund based activities: The traditional services which come under fund based activities are the following:

Underwriting or investment in shares, debentures, bonds, etc. of new issues (primary market activities). Dealing in secondary market activities. Participating in money market instruments like commercial Papers, certificate of deposits, treasury bills, discounting of bills etc. Involving in equipment leasing, hire purchase, venture capital, seed capital, Dealing in foreign exchange market activities. Non fund based activities

Non fund based activities Financial intermediaries provide services on the basis of non-fund activities also. This can be called fee based activity. Today customers, whether individual or corporate, are not satisfied with mere provisions of finance. They expect more from financial services companies. Hence a wide variety of services, are being provided under this head. They include:

Managing the capital issue i.e. management of pre-issue and post-issue activities relating to the capital issue in accordance with the SEBI guidelines and thus enabling the promoters to market their issue. Making arrangements for the placement of capital and debt instruments with investment institutions. Arrangement of funds from financial institutions for the clients project cost or his working capital requirements. Assisting in the process of getting all Government and other clearances.

ii. Modern Activities Beside the above traditional services, the financial intermediaries render innumerable services in recent times. Most of them are in the nature of non-fund based activity. In view of the importance, these activities have been in brief under the head New financial products and services. However, some of the modern services provided by them are given in brief hereunder.

Rendering project advisory services right from the preparation of the project report till the raising of funds for starting the project with necessary Government approvals. Planning for M&A and assisting for their smooth carry out. Guiding corporate customers in capital restructuring. Acting as trustees to the debenture holders. Recommending suitable changes in the management structure and management style with a view to achieving better results. Structuring the financial collaborations / joint ventures by identifying suitable joint venture partners and preparing joint venture agreements. Rehabilitating and restructuring sick companies through appropriate scheme of reconstruction and facilitating the implementation of the scheme. Hedging of risks due to exchange rate risk, interest rate risk, economic risk, and political risk by using swaps and other derivative products. Managing In- portfolio of large Public Sector Corporations. Undertaking risk management services like insurance services, buy-hack options etc. Advising the clients on the questions of selecting the best source of funds taking into consideration the quantum of funds required, their cost, lending period etc.

Guiding the clients in the minimization of the cost of debt and in the determination of the optimum debt-equity mix. Promoting credit rating agencies for the purpose of rating companies which want to go public by the issue of debt instrument. Undertaking services relating to the capital market, such as 1)Clearing services, 2)Registration and transfers, 3)Safe custody of securities, 4)Collection of income on securities.

What do they do?

These are some of the foremost among the myriad financial services. Insurance and related services Direct insurers pool payments (premiums) from those seeking to cover risk and make payments to those who experience a covered personal or business-related event, such as an automobile accident or the sinking of a ship. Reinsurers, which can be companies or wealthy individuals, agree, for a price, to cover some of the risks assumed by a direct insurer. Insurance intermediaries, such as agencies and brokers, match up those seeking to pay to cover risk with those willing to assume it for a price. Banks and other financial service providers Accept deposits and repayable funds and make loans: Providers pay those who give them money, which they in turn lend or invest with the goal of making a profit on the difference between what they pay depositors and the amount they receive from borrowers. Administer payment systems: Providers make it possible to transfer funds from payers to recipients and facilitate transactions and settlement of accounts through credit and debit cards, bank drafts such as checks, and electronic funds transfer. Trade: Providers help companies buy and sell securities, foreign exchange, and derivatives. Issue securities: Providers help borrowers raise funds by selling shares in businesses or issuing bonds. Manage assets: Providers offer advice or invest funds on behalf of clients, who pay for their expertise.

Banking and Other Financial Services means (a) the following services provided by a banking company or a financial institution including a non-banking financial company or any other body * corporate or [commercial concern] , namely : (i) financial leasing services including equipment leasing and hirepurchase; Explanation.For the purposes of this item, financial leasing means a lease transaction where

(i) contract for lease is entered into between parties for leasing of a specific asset; (ii) such contract is for use and occupation of the asset by the lessee; (iii) the lease payment is calculated so as to cover the full cost of the asset together with the interest charges; and (iv) the lessee is entitled to own, or has the option to own, the asset at the end of the lease period after making the lease payment; (ii) Omitted (iii) merchant banking services; (iv) securities and foreign exchange (forex) broking, and purchase or sale of foreign currency, including money changing; (v) asset management including portfolio management, all forms of fund management, pension fund management, custodial, depository and trust services , (vi) advisory and other auxiliary financial services including investment and portfolio research and advice, advice on mergers and acquisitions and advice on corporate restructuring and strategy; (vii) provision and transfer of information and data processing; and (viii) banker to an issue services; and (ix) other financial services, namely, lending, issue of pay order, demand draft, cheque, letter of credit and bill of exchange, transfer of money including telegraphic transfer, mail transfer and electronic transfer, providing bank guarantee, overdraft facility, bill discounting facility, safe deposit locker, safe vaults, operation of bank accounts;; (b) foreign exchange broking and purchase or sale of foreign currency including money changing provided by a foreign exchange broker or and authorised dealer in foreign exchange or an authorised money changer, other than those covered under sub-clause (a); [Explanation. For the purposes of this clause, it is hereby declared that purchase or sale of foreign currency, including money changing includes purchase or sale of foreign currency, whether or not the consideration for such purchase or sale, as the case may be, is specified separately;]

Intermediation At its heart, the financial sector intermediates. It channels money from savers to borrowers, and it matches people who want to lower risk with those willing to take on that risk. People saving for retirement, for example, might benefit from intermediation. The higher the return future retirees earn on their money, the less they need to save to achieve their target retirement income and account for inflation. To earn that return requires lending to someone who will pay for the use of the money (interest). Lending and collecting payments are complicated and risky, and savers often dont have the expertise or time to do so. Finding an intermediary can be a better route. Some savers deposit their savings in a commercial bank, one of the oldest types of financial service providers. A commercial bank takes in deposits from a variety of sources and pays interest to the depositors. The bank earns the money to pay that interest by lending to individuals or businesses. The loans could be to a person trying to buy a house, to a business making an investment or needing cash to meet a payroll, or to a government. The bank provides a variety of services as part of its daily business. The service to depositors is the care the bank takes in gauging the appropriate interest rate to charge on loans and the assurance that deposits can be withdrawn at any time. The service to the mortgage borrower is the ability to buy a house and pay for it over time. The same goes for businesses and

governments, which can go to the bank to meet any number of financial needs. The banks payment for providing these services is the difference between the interest rates it charges for the loans and the amount it must pay depositors. Another type of intermediation is insurance. People could save to cover unexpected expenses just as they save for retirement. But retirement is a more likely possibility than events such as sickness and auto accidents. People who want to cover such risks are generally better off buying an insurance policy that pays out in the event of a covered event. The insurance intermediary pools the payments (called premiums) of policy buyers and assumes the risk of paying those who get sick or have an accident from the premiums plus whatever money the company can earn by investing them. Providers of financial services, then, help channel cash from savers to borrowers and redistribute risk. They can add value for the investor by aggregating savers money, monitoring investments, and pooling risk to keep it manageable for individual members. In many cases the intermediation includes both risk and money. Banks, after all, take on the risk that borrowers wont repay, allowing depositors to shed that risk. By having lots of borrowers, they are not crippled if one or two dont pay. And insurance companies pool cash that is then used to pay policy holders whose risk is realized. People could handle many financial services themselves, but it can be more cost effective to pay someone else to do it. Cost of services How people pay for financial services can vary widely, and the costs are not always transparent. For relatively simple transactions, compensation can be on a flat-rate basis (say, $100 in return for filing an application). Charges can also be fixed ($20 an hour to process loan payments), based on a commission (say, 1 percent of the value of the mortgage sold), or based on profits (the difference between loan and deposit rates, for example). The incentives are different for each type of compensation, and whether they are appropriate depends on the situation. Regulation Financial services are crucial to the functioning of an economy. Without them, individuals with money to save might have trouble finding those who need to borrow, and vice versa. And without financial services, people would be so intent on saving to cover risk that they might not buy very many goods and services. Moreover, even relatively simple financial goods can be complex, and there are often long lags between the purchase of a service and the date the provider has to deliver the service. The market for services depends a great deal on trust. Customers (both savers and borrowers) must have confidence in the advice and information they are receiving. For example, purchasers of life insurance count on the insurance company being around when they die. They expect there will be enough money to pay the designated beneficiaries and that the insurance company wont cheat the heirs. The importance of financial services to the economy and the need to foster trust among providers and consumers are among the reasons governments oversee the provision of many financial services. This oversight involves licensing, regulation, and supervision, which vary by country. In the United States, there are a number of agenciessome state, some federal

that supervise and regulate different parts of the market. In the United Kingdom, the Financial Services Authority oversees the entire financial sector, from banks to insurance companies. Financial sector supervisors enforce rules and license financial service providers. Supervision can include regular reporting and examination of accounts and providers, inspections, and investigation of complaints. It can also include enforcement of consumer protection laws, such as limits on credit card interest rates and checking account overdraft charges. However, the recent sudden growth in the financial sector, especially as a result of new financial instruments, can tax the ability of regulators and supervisors to rein in risk. Regulations and enforcement efforts cannot always prevent failuresregulations may not cover new activities, and wrongdoing sometimes escapes enforcement. Because of these failures, supervisors often have the authority to take over a financial institution when necessary. The role of mortgage-backed securities in the recent crisis is an example of new financial instruments leading to unexpected consequences. In this case, financial firms looking for steady income streams bought mortgages from the originating banks and then allocated payments to various bonds, which paid according to the mortgages underlying performance. Banks benefited by selling the mortgages in return for more cash to make additional loans, but because the loan makers did not keep the loans, their incentive to check borrowers creditworthiness eroded. The mortgages were riskier than the financial firms that bought them anticipated, and the bonds did not pay as much as expected. Borrowers were more likely to default because of their lower income, which reduced the amount bondholders took inboth of which hurt gross domestic product growth. Mortgage-backed securities were initially intended to help mitigate risk (and could have done so under the right circumstances), but they ended up increasing it. Productive uses Financial services help put money to productive use. Instead of stashing money under their mattresses, consumers can give their savings to intermediaries who might invest them in the next great technology or allow someone to buy a house. The mechanisms that intermediate these flows can be complicated, and most countries rely on regulation to protect borrowers and lenders and help preserve the trust that underpins all financial services. Financial services provided by banks. Consumers use banks to keep financial resources safe and readily available for use. Deposits made by customers of the bank are insured by the Federal Deposit Insurance Corporation (FDIC). Customers of the bank rely upon its ability to liquidate financial resources held on account when they request the bank to do so. Banks provide customers with specially printed checkbooks. Customers pay creditors and other financial obligations by writing a check on the bank account. The bank pays the check written by its customer. Overdrafts and other fees are charged in accordance with the banks customer policy. If a customer withdraws more money than he has in account with the bank, the bank charges the customer a fee. Customers may arrange for overdraft protection with the bank. Overdraft protection is a loan that is accessed when the customers available fund balance is negative. Banks lend money to private and business customers. These loans take the form of personal loans, commercial/business loans, and home/property loans (mortgages).

Banks also issue credit cards to customers. A credit card is a form of demand loan available to the customer. The bank also supports its credit card business by processing payments to settle customer credit card bills. To support merchants accepting customers credit cards, banks may offer a merchant network service. Merchant network services include card terminals or credit card machines. Banks provide debit cards to their customers. Sometimes called check cards, debit cards provide ready access for customer use without the need to make a physical check or cash withdrawal. Customers may use debit or credit cards in the banks automatic teller machine (ATM). Banks facilitate fund transfers for customers via wire transfer and electronic transfer of funds. Banks utilize an interbank network to transfer funds for clients. Banks also provide certified or cashiers checks for customers. The bank guarantees the check so that the customer may offer it as certified available funds to a payee. In order to create a certified check, the bank usually withdraws client funds. Banks offer the services of a notary public to validate clients important documents. Private banks. The financial needs of high net worth individuals, families, and their businesses differ from those of most consumers. Private bank clients must usually present a certain minimum net worth to obtain private banking services. Private bank services include tax and estate planning, tax planning, and philanthropic gift planning.

History of financial services

The term "financial services" became more prevalent in the United States partly as a result of the Gramm-Leach-Bliley Act of the late 1990s, which enabled different types of companies operating in the U.S. financial services industry at that time to merge.[2] Companies usually have two distinct approaches to this new type of business. One approach would be a bank which simply buys an insurance company or an investment bank, keeps the original brands of the acquired firm, and adds the acquisition to its holding company simply to diversify its earnings. Outside the U.S. (e.g., in Japan), non-financial services companies are permitted within the holding company. In this scenario, each company still looks independent, and has its own customers, etc. In the other style, a bank would simply create its own brokerage division or insurance division and attempt to sell those products to its own existing customers, with incentives for combining all things with one company.

History
Way back in 60s Few enthusiastic persons gathered together with a common goal to make available the banking facility to the commonest of the common man. They had an aim that any person in genuine financial difficulty or in need of finance to fulfill his dreams whether personal or professional should have an institutional support and he should not be a prey of traditional moneylenders. The dream of these persons came into existence by bearing a name i.e. Dombivli Nagari Sahakari Bank Ltd. on 6th September, 1970. Since then the bank has grown by leaps and bound. With a modest beginning in a small 500 sq.ft. of main branch cum central office, having deposit base of and total advances of in June 1971, it has now reached abusiness mix of Rs. 3035 crores contributed by deposit of Rs. 1828 crores and Rs. 1207 crores of advances with 37 branches spread across 11 districts of Maharashtra.

Milestones
Scheduled status in 1996. Rs. 100 crores deposit in financial year 1994 to 1995. Rs. 500 crores deposit in financial year 2002 to 2003. Crossed Thane Dist. Border by opening Fort and Pune Branches in 2002-03. Core Banking Services From Year 2006. Merging of Shivneri Sahakari Bank With DNS Banks On 13 October 2007 and Suvarana Mangal Mahila Sahakari Bank on 3rd January 2010. Crossed the milestones Rs. 3000 crores Busines Mix in March 2011. Key Financial Indicators Since inception Audit class A. Maximum permissible dividend paid every year. Net NPA 0% CRAR at 15% USP .

Business philosophy.
We aim at: Evolving ourselves into a strong and sound competitive financial system, providing integrated services to customers from all segments, leverage on technology and human resources, adopt best accounting and ethical practices and fulfill corporate and social responsibilities towards all stakeholders, visualize aspiring benchmarks / goals and attain them efficiently and effectively.

Technology
Consumer banking brings a welcome change in a common person's life. It is not only the name for giving services to elite and privileged class of the society but is also to facilitate the common people, which normally represent a big proportion of the society. It is not possible for Banks to offer better services to this big proportion of the society without the help of Technology.

Mobile & SMS Banking

DNS Bank Ltd. in an attempt to fulfill the ever rising needs of banks customers has launched SMS banking facility.SMS Banking brings Banking to your fingertips. With SMS, you can perform a wide range of query based transactions from your mobile phone. Also get alerts for transaction in account, Deposit Maturity and EMI Due's. DNS is 1st Co-op. Bank to launch Mobile Banking Services in India. The Bank's customers can send and receive funds on any day and any time as per their convenience by using their mobile phones.

ATM Shared Network

DNS Bank is amongst the 1st five Co-op. Banks to join NFS ATM Shared Network. The customers now have access to 80,000 + ATMs across most of the bank's operating in India.

NEFT
National Electronic Funds Transfer (NEFT) is a nation-wide payment system facilitating one-to-one funds transfer. Under this Scheme, individuals, firms and corporate can electronically transfer funds from any bank branch to any individual, firm or corporate having an account with any other bank branch in the country participating in the Scheme. There is no limit for amount to be transferred. The funds are transferred in ten batches during the day

Since 2004, when RBI introduced RTGS, DNS is providing this electronic funds transfer facility. Using which customer can transfer funds to any other person's bank account within few hours in India. The NEFT facility which is similar to RTGS is also provided by the bank from the year 2007.

E-Lobby
The bank has setup 1st E-Lobby at Main Branch, Dombivli. The Lobby has facilities for customers to deposit cheques, cash, print passbook, withdraw cash, 24 hours and 365 days. Any branch's customer can access the E-Lobby for their requirements.

Social Commitment
While carrying out conventional banking bank has not lost sight of its Social responsibilities. An amount of over Rs 28 Lacs has been granted as subsidy to 101 Social, and Educational institutes working in rural areas. Bank also helps students in remote areas of Talasari, Shahapur, Nashik, Karjat and Khopoli Blocks by providing collection of 'expected questions' and 'ideal answer sheets' on all subjects. The Bank has continued its efforts in micro financing through self help groups. In Shahapur alone bank had disbursed a loan of over Rs 1.5 crores to such SHGs. The purpose includes Poultry, Dairy, goat rearing, purchase of Fertilizers etc. I am happy to report that the repayment has been satisfactory. Bank receives help in this behalf from Utkarsh Navinyapurna Shakari Sanstha promoted by Sahakar Bharati. Sahakar Bharati : is working in Co-operative sector on national level. Shri. Vasantrao Deodhar of this organization was awarded 'SAHAKAR MITRA'. Mr. Sanjeev Vibhute actively working in field of child education, eradication of superstition from society, helping people to overcome vices, was awarded'SAMAJ MITRA'. In addition to above bank also helps Sports and cultural activities. Accordingly the eight sport persons who achieved medals in Commonwealth Games were honored by the bank. Ms. Suma Shirur (Panvel), Madhurika Patkar and Mamata Prabhu (Thane), Anisa Saiyad (Pune), Rachi Sarnobat and Tejasvini Sawant

(Kolhapur). Kavita Raut (Nasik) and Narsing Yadav (Mumbai) were honored by the bank duly visiting their homes. The sport persons appreciated the initiatives taken the bank.

Green Project
Our Bank is thinking positively to participate in social aforestation project. This project will be implemented in the area of Mamnoli, Murbad which is about 100 kms from Mumbai with the cooperation of Paryavaran Dakshata Manch.

Financial Inclusion
The Bank has continued its efforts in micro financing through self help groups. In Shahapur alone bank had disbursed a loan of over Rs 1.5 crores to such SHGs. The purpose includes Poultry, Dairy, goat rearing, purchase of Fertilizers etc.

Services Provided by DNS bank RTGS:

Customers can transfer funds above Rs. 2,00,000 to any bank account in India on same day. The acronym 'RTGS' stands for Real Time Gross Settlement, which can be defined as the continuous (real-time) settlement of funds transfers individually on an order by order basis (without netting). 'Real Time' means the processing of instructions at the time they are received rather than at some later time. 'Gross Settlement' means the settlement of funds transfer instructions occurs individually (on an instruction by instruction basis). Considering that the funds settlement takes place in the books of the Reserve Bank of India, the payments are final and irrevocable. Timings For Transaction Monday to Friday: 9.00 am to 4.00 pm Saturday: 9.00 am to 1.00 pm Weekly off Sunday

NECS:

Electronic Clearing Services allows customer to receive credit or send money electronically instead of cheque. This System works parallel to cheque clearing with local exchanges. RBI has introduced national ECS for banks that have implemented CBS. Our Bank is offering thats facility to all customers.

Depository service:
We are offering Demat facility through Stock Holding Corporation of India. The facility is available at following address: Dombivli Nagari Sahakari Bank Ltd. Guruprasad, Behind Shivaji Statue Manpada Road, Dombivli - (East) Timing Monday to Friday: 10.00 am to 5.00 pm Saturday: 10.00 am to 1.00 pm

Bancassurance:
Dombivli Nagari Sahakari Bank Ltd. is always ahead in delivering the value added services to customers of the bank. Bank is functioning as a Corporate Agent under IRDA guidelines for Life and General Insurance. Life Insurance We are the corporate Agent for KOTAK MAHINDRA OLD MUTUAL LIFE INSURANCE CO. LTD. for Life Insurance Business. Being a corporate agent we offer various life insurance products which are nicely designed according to the individual needs to protect the uncertainties in life. Under Bancassurance we offer Group Credit Life Insurance for various loans like Housing, Personal and Educational loans. The policy covers the risk under group policy issued in the name of the Bank. The cover is on reducing balance method. The cover is available with single premium amount.

General Insurance
Bank is a corporate agent for BAJAJ ALLIANZ GENERAL INSURANCE CO. LTD. under this tie-up we are offering various general insurance products like Fire Insurance, Motor Insurance, Home insurance, Health insurance, Event Insurance etc.

Mutual Fund
A Mutual Fund is ideal portfolio for individual investor. The various funds offer a diversified professionally managed portfolio. Bank has a tie-up agreement with Kotak Mahindra Mutual Fund UTI Mutual Fund Reliance Mutual Fund DSP Black Rock Mutual Fund

Stamp Franking Services:

To overcome the problems of shortage of stamp papers and even genuinity of stamps, Dombivli Nagari Sahakari Bank Ltd., provides Stamp Franking at: Dombivli Nagari Sahakari Bank Ltd. Keshav Smruti, Manpada Road, Opp..K.D.M. Corporation, Dombivli (East), Maharashtra, India - 421 201.

Loan schemes( Housing loans)

Schemes Purpose Sukh Vastu For purchase of new Flat / Bungalow. Construction of own house. Swapna Vastu

Swapna Poorti

For purchase of new For purchase of Flat / Bungalow. new Flat / Construction of own Bungalow. house. Construction of

Eligibility

Margin

own house. Any individual, Any individual, Any individual, Businessman, Businessman, Businessman, professional, self professional, self professional, self employed or employed or employer or Salaried person. Salaried person. Salaried person. 20% for first 20% for first 20% for new purchase of a Flat / purchase of a Flat / dwelling.
House in new building. House in new building.

25% for purchase of a Flat / House under resale, in a building not older than 10 years.

25% for purchase of 25% for resale a Flat / House dwelling. under resale, in a building not older than 10 years.

25% for purchase of Flat / House, under resale in a building older than 10 years, but not older than 30 years. No advance to be sanctioned for purchase of Flat / House in a building older than 30 years.

25% for purchase of Flat / House, under resale in a building older than 10 years.

No advance to be No advance to sanctioned for be sanctioned purchase of Flat / for purchase of House in a building flat in a building older than 30 years. older than 30

years.

Loan Limit

Eligible loan Above Rs. 20.00 to amount will be Rs. 30.00 Lacs per calculated based beneficiary of a on Agreement Cost dwelling unit. relevant margin will be deducted. Up to Rs. 20.00 Lacs per beneficiery of a dwelling unit. Prime: Prime: Dwelling unit to be Dwelling unit to be purchased / purchased / constructed out of constructed out of bank finance. bank finance.

Above Rs. 30.00 Lacs to Rs. 50.00 Lacs.

Prime: Dwelling unit to be purchased / constructed out of bank finance. Collateral: Collateral: Collateral: Assignment of Assignment of Liquid Security Single Premium Single Premium in the form of Term Insurance Term Insurance Term Deposit of Policy on the life of Policy on the life of our Bank the proponent/s - the proponent/s equivalent to sum assured sum assured should 10% of the loan should be be equivalent to the amount equivalent to the loan amount sanctioned. loan amount sanctioned with sanctioned with term should a least Assignment of term of policy minimum up to the Single Premium should at least the repayment period. Term Insurance minimum up to the If the loan amount Policy on the life repayment period. is more than Rs. of the 25.00 Lacs then proponent/s Liquid Security in sum assured the form of Term should be Deposit of our Bank equivalent to the equivalent to 10% loan amount

of the loan amount sanctioned with sanctioned. term should a

Guarantors

Minimum two acceptable to Bank. 15 Years maximum.

least minimum up to the repayment period. Minimum two Minimum two acceptable to Bank. acceptable to Bank.
15 Years maximum. 15 Years

Repayment Period

maximum.

Education Loan
Education Loan Scheme Purpose Educational Purpose - For Higher Education in India or aboard Eligibility Student + Parents / guardian as co-applicants Loan Limit Max Rs. 20.00 Lacs Studies in India - Rs. 10.00 Lacs Studies in Abroad - Rs. 20.00 Lacs Margin 10% for both studies in India and Abroad Repayment Schedule Maximum 84 Months including - moratorium period Moratorium Period Duration of course + 6 months OR 3 Months after getting a job whichever is earlier Guarantors

Minimum two guarantors of age not more than 50 years. All the deductions including prosed EMI should not exceed 65% of Gross total income. Security Up to Rs. 2.00 Lacs - Clean Above Rs. 2.00 Lacs - Tangible security or immovable propertyvalue to cover 100% of loan amount + single premium Insurance policy on the life of student of sum assured not less than loan amount for all students whether going abroad or not. (Single premium amount of the insurance policy single premium amount of the insurance policy can be considered as part of cost of education.) Subsidy If Interest funded during the moratorium period then additional 1% to be charged. Subsidy as per the IBA guidelines available to students for studies in India.

Vehicle loan:
Safar Vehicle Loan Scheme Purpose For purchase of New / Old (second hand 4 Wheelers Vehicle). Eligibility Any Individual. Margin New vehicle: 10% of invoice price (i.e. the cost of vehicle + RTO Registration + Tax + Insurance). 2nd vehicle: 50% (If aggregate price is less than valuation then 50% of the Agreement price). Repayment Schedule Maximum 60 months (New Vehicle). 2nd Hand Vehicles - 36 months. Guarantors Minimum one acceptable to the bank. Security Hypothecation of new / Second hand vehicle (as the case may be).

Vehicle Loan for 2 Wheeler

Purpose For purchase of New Vehicle.

Loan Limit Maximum up to Rs. 1.00 Lac. Margin Nil - Up to Rs. 50,000/- and 10% p.a. above Rs. 50,000/Repayment Schedule Up to 60 months. Guarantors One guarantor of good means acceptable to the bank. Security Hypothecation of the proposed vehicle to be acquired through bank finance.

Gold loan:
Suvarna Sanchay for purchase of gold Purpose Personal Loan to Purchase Gold Bars, Jwellery, Chips, Biscuits etc. Eligibility Any Indulges Loan Limit Maximum Rs. 5 lacs Repayment Schedule Up to Rs. 2.00 lacs 36 months Up to Rs. 5.00 lacs 60 months Guarantors One of good means acceptable to the Bank. Security Gold Jewelry / Bars / Chips to be purchased to be pledged. Suvarna Taaran - Pledge of gold and gold ornaments Eligibility Any Individual Loan Limit Need Based Rs. 23000/- per 10 gms of pure gold OR 75 % of valuation whichever less.

Repayment Schedule 12 months Guarantors Nil Security Pledge of Gold Ornaments Repayment Repayment for loan upto Rs. 1.00 lac EMI for laon above Rs. 1.00 Lac

Personal loan:
Utsav Loan Scheme Purpose For purchase of T.V., Fridge, Two wheeler & all consumer durable items Eligibility Salaried person & Self-professionals Loan Limit Maximum Rs. 1 lacs Margin Up to Rs 5000 Nil Above Rs 5000, 10% Repayment Schedule Maximum 36 Months Guarantors Two Security Hypothecation of Article purchased Suvidha Loan Scheme Purpose Repayment of old Debts, Ceremonial, Medical Expenses, Tourism Loans. etc., any other purpose acceptable to Bank Eligibility Any Individual Loan Limit Maximum Rs. 5 Lacs Repayment Schedule 30 months / 60 months

Guarantors Minimum Two Security Group Insurance in the name of borrowing equivalent to loan amount Mortgage Loan Scheme Purpose Purchase of Consumer durables, Business Expenses, Education & medical expenses etc., Eligibility Any Individual Loan Limit Need Based Margin 50% of valuation of commercial property 40% of market value of residential flat Repayment Schedule 84 months Guarantors Two :- Acceptable to the Bank Security Mortgage of property Advances against Shares Purpose To meet any contingencies & personal needs Eligibility Individual, single or joint name Security shares in Demat of approved companies will be considered. Loan Limit Maximum Rs. 5 Lacs Repayment Schedule 12 months Margin 50 % on Market Value (Average of 52 weeks High + Low ) Guarantors Not required Security Shares They also have Internet banking, mobile banking, sms banking.