Introduction To Banking: Saraswat Co-Operative Bank (2014-2015)

Saraswat Co-operative Bank (2014-2015)
Introduction to Banking
A bank is a financial institution and a financial intermediary that accepts deposits and channels
those deposits into lending activities, either directly by loaning or indirectly through capital markets. A
bank is the connection between customers that have capital markets. A bank is the connection between
customers that have capital deficits and customers with capital surpluses.
Due to their influence within a financial system and the economy, banks are highly regulated in
most countries. Most banks operate under a system known as fractional reserve banking where they hold
only a small reserve of the funds deposited and lend out the rest for profit. They are generally subject to
minimum capital requirement which are based on the international set of capital standards, known as the
Basel Accords.
Banking in its modern sense evolved in the 14 th century in the rich cities of Renaissance Italy but
in many ways was a continuation of ideas and concepts of credit and lending that had its roots in the
ancient world. In the history of banking, a number of banking dynasties have played a central role over
many centuries.
DEFINITION:
In simple words, Banking can be defined as the business activity of accepting and safeguarding
money owned by other individuals and entities, and then lending out this money in order to earn a profit.
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T.Y.BCOM (B&I) (SEM-5)
ORIGIN
The first bank was probably the religious temple of the ancient world wherein gold was stored in
the form of easy-to-carry compressed plates. Their owners justly felt that temples were the safest places
to store their gold as they were constantly attended, well-built and were sacred, thus deterring would-be
thieves. There are extent records of loan from the 18 thcentury BC in Babylon that were made by temple
priests to merchants. Ancient Greece holds further evidence of banking. Greek temples as well as
private and civic entities conducted financial transactions such as loans, deposits, currency exchange, and
validation of coinage. There is evidence too of credit, whereby in return for a payments from a client, a
moneylender in one Greek port would write a credit note for the client who could cash the note in
another city, savings the client the danger of carting coinage with him on his journey. Ancient Rome
perfected the administrative aspect of banking and saw greater regulation of financial institution and
financial practices. Charging interest on loans and paying interest on deposits became more highly
developed and competitive. The origin of banking in India can be traced back to almost the Vedic Period.
The transformation from pure money lending to proper banking appears to have taken place before the
times of Manu, a great Hindu jurist, had devoted a section of his work explaining the deposits and
advances and he even laid down certain rules on rates of interest. Throughout Mauryan periods and later
on desi bankers played some role in the economy of the country. However, it was during the Moghul
period that indigenous bankers started playing a vital role in the lending money and financing of the
foreign trade and commerce. Banking during British period before independence. The first joint stock
bank, namely The General Bank of India was established in 1786. Later on Bank of Hindustan and
Bengal came into existence. Bank of Hindustan carried on business still 1906.
East India Company established the following three banks, namely The Bank of Bengal in 1809,
The Bank of Bombay in 1840, and Bank of Madras in 1843. They were collectively called Presidency
Banks and were well functioning independent units. The three banks established by the East India
Company were amalgamated in 1902 and a new bank called Imperial Bank of India.
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INTORDUCTION OF SRARSWAT CO-OPERATIVE BANK

The symbol takes off from our earlier logo and visualizes a hexagon. It is an attempt to appeal to
younger and new customers without alienating the existing ones. The logo represents two caring hands in
the shape of a hexagon. The upper hand is of golden yellow colour. Yellow is the colour of warmth,
sunshine, cheer and happiness. Gold of wealth, prosperity and ever increasing value. They are the colours
of the Sun and symbolize life, youth and harmony. The lower hand is burgundy red, the colour of
excitement, strength and passion. It symbolizes aggressiveness and in the Indian context, Soubhagya.
Saraswat co-operative bank is an urban co-operative banking institution based
in Maharashtra
In 1988; it was conferred with scheduled status by the Reserve Bank of India. It has 265 branches
nationwide.
The bank has observed good growth during the 2000s with its total business growing from 40
billion rupees in 2000 to 230 billion rupees in 2010 (approx. 5 billion US$).
"The Saraswat Co-operative Banking Society" was founded on 14th September 1918. Mr. J.K.
Parulkar became its first Chairman, Mr. N.B. Thakur, the first Vice-Chairman, Mr. P.N. Warde, the first
Secretary and Mr. Shivram Gopal Rajadhyaksha, the first Treasurer. These were the people with deep and
abiding ideals, faith, vision, optimism and entrepreneurial skills.
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HISTORY OF SRARSWAT CO-OPERATIVE BANK
"The Saraswat Co-operative Banking Society" was founded on 14th September 1918. Mr. J.K.
Parulkar became its first Chairman, Mr. N.B. Thakur, the first Vice-Chairman, Mr. P.N. Warde, the first
Secretary and Mr. Shivram Gopal Rajadhyaksha, the first Treasurer. These were the people with deep and
abiding ideals, faith, vision, optimism and entrepreneurial skills.
The Society was initially set up to help families in distress. Its primary objective was to provide
temporary accommodation to its members in eventualities such as weddings of dependent members of
the family, repayment of debt and expenses of medical treatment etc. The Society was converted into a
full-fledged Urban Co-operative Bank in the year 1933. In 1988 the bank was conferred with
"Scheduled" status by Reserve Bank of India. The Bank is the first co-operative bank to provide
Merchant Banking services. It got a permanent license to deal in foreign exchange in 1978.
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ORGANISATION STRUCTURE
Shri E. K. Thakur, B.A. (Hons.), C.A.I.I.B.

(Chairman)
Shri S.S. Sanzgiri, B.A.

(Vice-Chairman)
Shri S. K. Banerji, B.Sc. (Hons.), D.B.M., LL.M., FIIBF.

(Managing Director)
OTHER DIRECTORS
Shri M. K. Mantri, M.A.

Shri S. N. Sawaikar, M.Com, DMA, C.A.I.I.B.
Shri P.N. Joshi, M.A.
Shri A.A. Pandit, B.Com, F.C.A., D.B.F.
Shri S. V. Saudagar, B.Com, F.C.A., D.I.S.A.
Shri N. R. Warerkar, B.Com, C.A.I.I.B.
Shri S. B. Samant, B.Com, L.L.M, F.C.A.
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STATUTORY AUDITORS
M/s Kulkarni & Khanolkar, Chartered Accountants
LEGAL ADVISORS
M/s Little and Company
Govind Desai Associates
Shri Shekhar Naphade, B.A., LL.B
Shri A. V. Sabnis, LL.B.
Shri K. M. Naik, B.A., LL.B.
Shri S. N. Inamdar, B.Com.
BANKERS
State Bank of India

Bank of India
HDFC Bank Ltd.
Standard Chartered Bank Ltd.
ICICI Bank Ltd.
PERSONAL BRANCH BANKING

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A. Deposit Schemes:
Important Notice to Depositors:
As per section 206AA introduced by Finance (No. 2) Act, 2009 w.e.f. 01.04.2010, every person
Who receives income on which TDS is deductible shall furnish his PAN, failing which TDS shall
be deducted at the rate of 20% (as against 10% which is existing TDS rate) in case of Domestic
Deposits and 30.90% in case of NRO deposits. Please further note that in the absence of PAN,
Form 15G/H and other exemption certificates will be invalid even if submitted & penal TDS will
be applicable. Please visit nearest Saraswat Bank branch to submit or confirm updating of your
PAN with the bank.
Deposit Scheme:
1.
2.
3.
4.
5.
Saving
Current
Term Deposit
Elite Accounts
Elite Current Account
1. Savings Account:
Inculcate the habit of saving through our Easy & Convenient Features & avoid thrift. Personalized
Service coupled with technology enabled products is the Hallmark of our Service.
Features & Benefits:
Wide Network of Branches & ATM coverage. Get connected to ATMs across the world through
our VISA Debit Card.
Bank offers convenient facilities like Net Banking. Take advantage of Easy Pay, an instant solution
to all your frequent utility bill payments.

Never Overspend! Shop using our International Visa Debit Card depending on the balance in your
saving account.
Free Personalized Cheque Book with name printed on each cheque leaf for enhanced security.
Free Passbook facility available at home branch for account holders (individuals).
Interest Rates:
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Interest Rate applicable on Savings Deposit Scheme is 4% p.a. w.e.f. 1st April 2012.
Eligibility:
Our Savings Account is for anyone who is a resident individual (sole or joint) or comes from a
Hindu undivided family. A Trust & Foundation can also open a Savings Account.
Other savings accounts:

1.
2.
3.
4.
5.
Akshay Salary Account

CUBS Account for Kids
CAMPUS Account for College students
Suvidha Savings Account
Janhit Account
2. Current Account
Banking that helps your business grow faster than you would imagine. The features of our Current
Account makes banking a comfortable experience.
Features & Benefits:
Minimum balance requirement of Rs 5000/- per quarter

Free Internet Banking
Free Mobile Banking - Check your account balance/transaction.
Free International Visa Debit Card for the 1st year.
Avail of Safe Deposit Locker facilities (subject to availability).
Free monthly statement.
Avail Personalised chequebook for enhanced security at nominal prices.
Take advantage of Easy Pay. An instant solution to all your frequent utility bill payments.
Eligibility:
You can open a Current account with us if you are:

Public or Private Limited Companies
Partnership Firms
Proprietorship Concerns
HUFs
Trusts
Clubs, Mandal and Associations
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Officially Valid Documents:

Passport, Driving license, PAN Card, Voter's Identity Card, NREGA Job Card, Letter issued by the
UIDAI containing details of name, address and Aadhaar number. If the address on the document
submitted for identity proof is same as that declared by him / her in the account opening form, the
document may be accepted as a valid proof of address also.
3. Term Deposit
Fixed Deposits:
Savings has been an essential part of all the earnings, we at Saraswat Bank, help you earn more on
your savings by offering savings schemes which come with suitable tenures and attractive interest
rates.
Features & Benefits :

TDS applicable Form 15H/15G required to be submitted for exemption of TDS. Nominal member
of
the bank will also be exempted from TDS. If you are exempt from paying tax, you need to present
Form 15H when you open a Fixed Deposit and subsequently at the beginning of the following
Financial year. A minimum amount of Rs. 1000/- and further rise in multiples of Rs. 100/- is
required.
Eligibility:
Individuals (singly or jointly), Minor by guardian, Organizations, Co-op. Societies.
Recurring Deposits
Just like little drops make an ocean, see your small investments every month turn into a huge
amount
at maturity by investing in our Recurring Deposit scheme.

Invest little sums every month Facility of Standing Instruction through which the amount can be
debited from your savings account. NO TDS Attractive Interest Rates Scheme applicable for 12
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months to 36 months Amount of installment once fixed cannot be changed. Recurring deposits are
accepted in equal monthly installments of minimum Rs 5.
Eligibility:
Individuals (singly or jointly), Minor by guardian, Organizations, Co-op. Societies.
B. Retail Loans:
Saraswat Co-operative Bank offers various loans to its customers. Bank takes care of its customers
by offering comprehensive loan packages at extremely competitive rates, without any hidden costs.
Our personalized service coupled with state of the art technology at absolutely market competitive
rates shall make your Banking experience a truly memorable one.
Vastu Siddhi Housing Loan
Title
Norms
Purpose
Construction of own house/Purchase of ready built house/flat/resale flat / takeover of housing loans from
other banks/institutions
Eligibility
Salaried Employees /Businessmen/Professionals
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Loan
Processing Fees Floating
Loan Amount
Amount
Fixed
Upto
Rs.
25
lac
Rs. 5000/- 10.00%
Upto Rs. 25 lac
Min : 11.75%
(PLR
Above Rs.25 lac & upto Rs. 50 lac
Rs. 15000/Above Rs. 50 Lac
Rs. 25000/-Min : 10.00%
Above Rs. 25 lac
Min : 12.00%
10.25%
(PLR
4.50%)*
4.25%)*
Min : 10.25%
Limit of loan
Per Beneficiary Max Rs. 70 lac
Basis of Advance
1. 85% (loans upto Rs. 25 lac) or 80% ( loans above Rs. 25 lac) of Cost of flat +Stamp Duty
Registration
2. Salaried
OR
:
Businessman
Cost
of
OR
Max
60
times
Max
land
&
of
the
Avg
times
of
Avg
construction
net
Net
take-home
cash
thereon
salary
accruals
i) or ii) stated above whichever is lower

Repayment Period
Maximum 20 years for salaried class- holiday for repayment of principle upto 12 months. Businessmen:
Max 15 years. Step-up repayment/ bullet repayment option
Rate of Interest
*Present PLR : 14.5% p.a
Processing fees
Shareholding
2.50% of loan amount, Maximum Rs. 25000/-
Security
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Equitable/ legal Mortgage of house property to be purchased.
Top up loan
Max Rs. 25 lac
Repayment period subject to max. 7 years
Loan for construction of house

1. The cost of the land should not exceed 65% of total cost of project.
2. Construction should be completed within 24 months.
Conversion
From Fixed to floating or vice versa option available
Documentation
1. Duly filled application form with photo identity and residence proof of Applicant and Guarantor (if
any)
2. Income
a)
Salaried:
months,
b)
proof
salary
a)
slip
ITR
Businessman:
for
or
last
&
Profit
&
b)
months
and
form
loss
and
ITR
copies
3. Legal Documents for creating mortgage as per requirement
Super-Fast Car Loan
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statement
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Balance sheet, 6 month bank statement.
bank
as
for
of
applicable
for
last
3
last
two
yrs.
years,
Title
Purpose
Eligibility
Limit of loan
Norms
For purchase of new car
Salaried persons / Businessman / Commercial organizations
Max. Rs 100 lakh
1.
Salaried : Max 30 times of Avg Net Monthly SalaryBusinessmen : Max 4
Basis of Advance
times of Avg Net Cash Accruals

2.
Repayment
Period
80% of On-Road cost extended upto 100%* 1 or 2 whichever is lower
Salaried: Max 7 years. Businessmen : Max 5 years

Fixed
Rate of Interest
Shareholding
Security
Processing fees
Documentation
Period
General Customers
Loyalty Customers
upto 5 years
10.40%
10.40%
Above 5 years to 7 years
12.00%
11.50%
2.50% of loan amount, Maximum Rs. 25000/Hypothecation of vehicle to be purchased One Guarantor.
0.50% of the loan amount, subject to a minimum of Rs. 1000/1. Duly filled prescribed application form
2. Identity and residence proof of the Applicant and Guarantor(if any)
3. Income documents a) or b) as applicable
a) In case of salaried person, salary slip for last 3 months and bank
statement for last 6 months, ITR of the past 3 years
b) In case of businessman, last 2 years profit & loss & ITR copies, balance
sheet and bank statement of business account for last 6 months.
4. Performa Invoice of the Authorized dealer
Saraswati Education Loan
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Title
Purpose
Norms
Eligibility
For Education in India and Abroad

Individual who has secured admission in any of the graduate/post-graduate courses
Limit of loan
offered by college/institute/university approved by IBA.

Studies in India Max upto Rs. 10.00 lacs
Basis
of
Studies Abroad Max upto Rs. 20.00 lacs

upto 100% of cost of the fees
Advance
Repayment
Maximum 12 years inclusive of moratorium period.
Period
Moratorium: Duration of the course plus an additional period of six months or

3 years whichever is earlier.
For IBA approved courses
Rate of Interest
Amount
Upto Rs 20 lacs
Floating
13.00% (PLR 1.50%)
Fixed
14.00%
Present PLR: 14.5% p.a
0.50% less rate of interest would be applicable in case of Girl students.

0.25% less rate of interest in case of studies in (IIMs),(IITs),XLRI,ISB
** Total discount in rate of interest will not exceed 0.50%.
Processing fees
For Studies in India NIL

For Studies Abroad 0.5% of the loan amount.
Shareholding
Upto Rs. 2 lac : Nominal Membership

Above Rs. 2 lac: 2.5% of the sanctioned loan amount, Maximum Rs. 25000/-
Security
Upto Rs. 2.00 lacs: Two guarantors

Above Rs.2.00 lacs and up to Rs. 5.00 lacs: Hypothecation of Household
articles and two guarantors.

Above Rs. 5.00 lacs : Pledge of any other tangible security acceptable to the
bank OR Equitable mortgage of Property
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Documentation
Duly filled application form along with the photo identity and residence proof
of the Applicants and guarantors.

Proof of confirmed admission.
expense(traveling/lodging/boarding)
Fee receipts or proof of payments made. Copy of Passport & Visa, if the student
is going abroad for higher education and related documents.

Income proof of the applicant in the form of For salaried: last 3 months salary
Estimate
of
course
fees
&
other
slip/certificate or copy of the last three years IT returns filed with computation
details of personal .
Gold Loan Yojana
Title
Purpose
Eligibility
Limit of loan
Basis of Advance
Repayment Period
Rate of Interest
Processing fees
Shareholding
Other charges
Norms
To meet urgent financial needs
Any individual who is the true owner of the ornaments
Maximum loan / OD up to Rs. 25.00 lakh For Bullet repayment 1lakh
75% of valuation of gold ornaments or Rs. 2000/- per gm whichever is less
Max 12 months
PLR- 2= 12.50% p.a. ( floating)Present PLR : 14.5%p.a.
Nil
Nominal membership
Custody charges of Rs. 300/- per quarter or 0.50% of the loan availed
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whichever is higher, in case the delivery of ornaments is not taken within one
month from the closure of loan account. Valuation charges at actual
Documentation
Prescribed Loan application form

Photo identity and residence proof of applicant
Doctor Delite
Title
Norms
Purpose
For setting up clinic/ hospital

For purchase of equipment / furniture at the clinic / hospital
To conduct renovation of clinic /hospital.
Eligibility
Any qualified Doctor (existing /new practitioner)
Limit of Loan
Maximum up to Rs. 100.00 lac.
Basis of Advance
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Period
Fixed
Upto 60 months
Upto 84 months
Above 84 mts. upto 120 mts.

1) 80% of cost
Floating
of equipment/
11.50% (PLR-3.00%)
12.00% (PLR-2.50%)
cost of premises
12.50% (PLR-2.00%)
OR
12.50%
13.00%
13.50%
70% of cost of furniture/ cost of renovation.

2)
times
of
Avg
Net
Profit
Plus
Depreciation
(EXISTING
practitioners)
3) Times of projected net profit plus depreciation (NEW practitioners)

(1 or 2 whichever is low)
Repayment Period
For Premises &equipment upto 120 months

Only for Equipments upto 84 months
Moratorium period upto 1 year may be granted on merits of case
Rate of Interest
*Present PLR: 14.5% p.a

Processing Fee
0.5% of loan amount; maximum Rs.25000/Shareholding
2.50% of sanctioned loan amount ; maximum Rs.25000/Security
Purchase of equipment/ furniture Hypothecation of equipment/ furniture to be purchased

Purchase of new premises/ Renovation of clinic Equitable
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OR

Mortgage of the premises/ clinic respectively
Collateral & Guarantors based on merits of proposal
Documentation
Prescribed loan application form

Photo Identity proof and Residence proof of the Applicant.
IT returns for last 3 years (fresh medical practitioners IT returns may not be insisted)
Legal documents required for creating mortgage /Quotation of the equipment to be purchased/
renovation cost or furniture cost.
Other retails loans:

1.
2.
3.
4.
5.
6.
7.
Sajawat Loan Scheme

Pravasi- Travel Loan
Multi-Purpose Loan
Privilege Executive Finance
E - Stock Advance
Advance Against RBI Bonds
Advantage for Professional
C. Investment & Insurance:

Saraswat Bank provides information of its various Investment & Insurance Products which
Customers can avail of with the bank.
Insurance:
It is our earnest endeavor to offer you new and competitive financial products and services.
We have for this purpose tied up with various insurance companies. The details of tie-up and
products offered are given below:
LIFE INURANCE
For Life Insurance products, we have entered into a tie-up with M/s. HDFCStandard Life
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Insurance Company Limited. We offer following products:
Protection Plans:
Protection Plans help to shield your family from uncertainties in life due to financial losses in
terms of loss of income that may dawn upon them in case of your untimely demise or critical
illness. Protection Plans go a long way in ensuring your familys financial independence in the
event of your unfortunate demise or critical illness. They are all the more important if you are the
chief wage earner in your family. No matter how much you have saved or invested over the
years, sudden eventualities, such as death or critical illness, always tend to affect your family
financially apart from the huge emotional loss.
Childrens Plan:
Childrens Plans help to save, so that you can fulfill your childs dreams and aspirations. These
Plans go a long way in securing your childs future by financing the key milestones in their lives
even if you are no longer around to oversee them. Childrens Plans help you save steadily over
the long term so that you can secure your childs future needs, be it higher education, marriage or
anything else. A small sum invested by you regularly can help you build a decent corpus over a
period of time and go a long way in providing your child a secured financial future alongwith.
Retirement Plans:
Retirement Plans provide you with financial security so that when your professional income
starts to ebb, you can still live with pride without compromising on your living standards. By
providing you a tool to accumulate and invest your savings, these plans give you a lump sum on
retirement, which is then used to get regular income through an annuity plan. Given the high cost
of living and rising inflation, employer pensions alone are not sufficient. Pension planning has
therefore become critical in today's world.
Savings and Investment Plans:

You have always given your family the very best. And there is no reason why they shouldnt get
the very best in the future too. As a judicious family man, your priority is to secure the wellbeing of those who depend on you. Not just for today, but also in the long term. More
importantly, you have to ensure that your familys future expenses are taken care, even if
something unfortunate were to happen to you. Our Savings & Investment Plans provide you the
assurance of lump sum funds for your and your familys future expenses. While providing an
excellent savings tool for your short term and long term financial goals, these plans also assure
your family a certain sum by way of an insurance cover.
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Fund House:
Birla Sunlife Mutual Fund
Franklin Templeton Mutual Fund
HDFC Mutual Fund
ICICI Prudential Mutual Fund
Kotak Mahindra Mutual Fund
Principal PNB Mutual Fund
Health Plans:
Health plans give you the financial security to meet health related contingencies. Due to changing
Life styles, health issues have acquired completely new dimensions becoming more complex in
nature. It becomes imperative then to have a health plan in place, which will ensure that no matter
how critical your illness is, it does not impact your financial independence.
Mutual Funds:
Considering the changes in Indian demographics (more than 70%of the population below the
age of 35), changes in investment pattern (rising disposable incomes created a huge potential
for investment in Insurance and Mutual Funds), increased competition and thinning of Interest
margins, the Indian Banking Industry had to redesign their bouquet of products and introduce
marketing of third party products like Insurance and Mutual Funds, to increase fee based
income.
The Mutual Fund industry currently has 35 Fund houses with 1800 schemes spread across 30
different categories. During this financial year the industry saw 900 new fund offers (equity,
debt, liquid and Fixed Maturity Plans included).The AUM (Asset Under Management) of the
Mutual fund industry closed at Rs 4, 31,901 Cr at the end of October 2008.
Our Bank has entered into the Mutual fund distribution business 5 years backend today we
have a successful tie up with 21 fund houses with total funds invested at around Rs 100
crores.
The major fund houses where our Bank has tie up are as follows:
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Demat
(PAN compulsory for all demat accounts)

Modernization in the trading and settlement system has been witnessed in the capital market
through automated trading mechanism of Demat. The advent of Electronic trading and settlement has
brought in transparency in trading and has eliminated risks associated with Bad Delivery and handling
huge load of paperwork. The country has made a remarkable growth in the capital market by switching
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over to electronic trading.
DEPOSITORY PARTICIPANT CELL:

Saraswat Co-operative Bank Limited is a Depository Participant with National Securities
Depository Ltd (NSDL) and Central Depository Services Ltd (CDSL).

Saraswat Bank offers the following attractive features to its clients:
Free AMC for one year (Regular account).
Option of both CDSL and NSDL facilities
Portfolio valuation to the customers
Free SMS facility
Speed-e facility for NSDL online transfer of shares.
Free Viewing of Holding /Transaction through internet (Ideas/easi facility)
Rajiv Gandhi Equity Scheme

Rajiv Gandhi Equity Savings Scheme (RGESS): The RGESS scheme was proposed in the
Union Budget 2012-13, to encourage flow of savings in the financial instruments and improve
the depth of domestic capital market.
Features of the Scheme:
Designed exclusively for the first time retail investors in securities market, whose gross total
income for the year is less than or equal to Rs. 10 lakh.

The investor would get under Section 80CCG of the Income Tax Act, a 50% deduction of the
amount so invested, upto a maximum investment of Rs.50,000, from his/her taxable income
for that year.
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NRI BANKING
NRI Deposit:
Saraswat Bank is the first co-operative bank to obtain permanent license to deal in foreign
exchange. Authorized Dealer in Foreign Exchange since 1979.

The International Banking Division plays an active role in Forex operations through its ten Forex
Centers.
Correspondent Banking relations with 430 centers of various banks spread over 65 countries.
Maintaining foreign currency accounts in 9 major currencies of the world.
Well-equipped Treasury Department.
Member of SWIFT network for speedy, accurate and safe Funds Transfer.
All types of Forex Services rendered too many other Co-operative Banks.
The product suite for NRIs ranges from Bank deposits, Housing Loans and Demat Accounts.
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To give further boost to NRI services and in order to cater the growing needs of NRI customers,
our Bank has set up a specialized NRI Desk.
NRIs can open the following types of accounts with us.

TYPES OF DEPOSIT ACCOUNTS:
Foreign Currency Non Resident (Bank) Deposit - FCNR (B) Deposit
Non-Resident External (NRE) Account
Non-Resident Ordinary (NRO) Account
Resident Foreign Currency Account
How to open NRI Account with us to open an NRI account please complete the account opening
form and forward it to any of our branches of your choice along with the following:
Photocopy of the passport.

Photocopy of Visa/Residence permit.
Photograph.
Overseas Address Proof (any one of these - Utility bills/ Driving License/Credit card bills/
Overseas Bank statement).

Local Address Proof
Initial money remittance.
To open an NRI account please complete the account opening form and forward it to any of our
branches of your choice along with the following:
Photocopy of the passport.

Photocopy of Visa/Residence permit.
Photograph.
Overseas Address Proof (any one of these - Utility bills/ Driving License/Credit card bills/
Overseas Bank statement).

Local Address Proof
Initial money remittance.
All documents are to be self-attested.
Your signature is to be verified by anyone of the following:
Indian Embassy/consulate.
Notary public.
Non-Resident Ordinary (NRO) Account
Account Types: Savings Bank/Current Account/Term Deposit/Recurring Deposits.

Accounts maintained in Indian Rupees.
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Accounts can be opened jointly with non-residents / residents.
Accounts can be opened/credited with legitimate local funds of the non-resident and also with
remittances from abroad/transfer from existing NRE/FCNR accounts / foreign exchange brought
in India during visit to India.

Balances held in NRO accounts can be repatriated outside India with an overall limit of USD one
million per financial year subject to payment of taxes and production of a certificate and
undertaking as per RBI guidelines.

Interest is subject to deduction of tax at source at the rate of 30% plus education cess.
Loans against NRO deposits can be availed for purposes other than relending/carrying on
agricultural /plantation activities / real estate business.

Nomination facility is available for NRO accounts.
Foreign Currency Non-Resident (Bank) Deposit - FCNR (B)
Deposits can be maintained in USD and EUR. We also consider FCNR deposits in other freely
convertible currencies on demand.

FCNR (B) deposits are accepted for minimum period of one year and a maximum of five years.
Can be opened jointly with another NRI.
Accounts can be opened/credited with remittances from abroad through normal banking channel/
personal cheque drawn on foreign bank accounts / transfer from existing NRE/FCNR
accounts/foreign exchange brought during visit to India.

Both principal and interest are payable in foreign currency. Hence there is no exchange loss on
principal and interest.
Resident Foreign Currency Account (RFC)
PIOs and NRI are returning to settle permanently in India can open an RFC account.
Can be opened in USD and EURO.
Can be opened jointly with any other person eligible to open an RFC account.
Balances in NRE/FCNR accounts and foreign currency funds brought by the NRI at the time of
returning to India.
Assets maintained abroad can be freely invested in RFC account.
25
NRI Loans:
Personal Loans:
o We grant Rupee loans to NRI customers against:o Security of funds held in NRO Term Deposits and
o Security of funds held in NRE Term Deposits, FCNR (B) Deposits.
o Against the security of shares or other securities held in the name of the borrower.
o The loan shall be utilized for meeting the borrowers personal requirements or for his own
business purposes; and
o The loan shall not be utilized, for any of the activities in which investment by persons resident
outside India is prohibited namely;
Business of chit fund,
Nidhi Company.
Trading in Transferable Development Rights (TDRs).
Investment in capital markets including margin trading and derivatives.
Repayment:
o Repayment shall be made by fresh inward remittances from outside Indiathrough normal
banking channels.
o Out of the local rupee resources in NRE/NRO/FCNR account of the borrower
o Through sales proceeds of shares or securities or immovable property against which such loan
was granted.
o Repayment can also be made by adjustment of the deposit.
Remittance Services:
Travel Related
Other Remittances
Money Transfer Services:

26
Money Gram
Saraswat Bank has tied up with MoneyGram for Inbound Global Remittances through Thomas
Cook (India) Ltd who is principal agent of M/s MoneyGram International Inc.USA. We have
launched MoneyGram product for inbound Global remittances at our 191 branches.
It is a person to person money transfer technology which enables a person to send money through
any of Network agents of MoneyGram International.
Quick, safe and cheap mode of send money to India. Beneficiary gets payment in India on real
time basis.
The remittance scheme conforms to the rules & regulation framed by Reserve Bank of India
under Money Transfer Service Scheme (MTSS)
Maximum amount of remittance that receiver can receive in a single transaction will not exceed
USD2500 or its equivalent in Indian rupees. Payment in cash to receiver will be made up to and
inclusive of Rs.50, 000/- (Rs. Fifty thousand only).
Any single beneficiary can receive 30 transactions in a calendar year.
Non-permissible Transactions under Money Transfer Service Scheme as per RBI stipulations.
Trade related remittances (export payment, payment of services, etc.)
Remittances towards purchase of property, investments;
Remittance for credit to NRE/FCNR accounts and
Remittance as donations, contributions to charitable organizations.
Benefits
This service is a boon to families of NRIs as well as foreign students and foreign tourist visiting
India. Overseas workers who need to provide financial support to their families in India.
Receive money as cash in minutes.

No Bank account required.
Xpress Money
Saraswat Bank has entered into a strategic tie-up with UAE Exchange and Financial Services Ltd
for facilitating Global Money Transfer Service, Xpress Money, UAE Exchange and Financial
Services Ltd is the principal agent for UAE Exchange Centre LLC, Abu Dhabi, for facilitating
Xpress Money services in India. We have launched the Xpress Money product at our 191
branches.
27

It is a person to person money transfer technology which enables a person to send money through
any of Network agents of UAEFSL.
Quick, safe and cheap mode of send money to India. Beneficiary gets payment in India on real
time basis.
The remittance scheme conforms to the rules & regulation framed by Reserve Bank of India
under Money Transfer Service Scheme (MTSS)
Maximum amount of remittance that receiver can receive in a single transaction will not exceed
USD2500 or its equivalent in Indian rupees. Payment in cash to receiver will be made up to and
inclusive of Rs.50, 000/- (Rs. Fifty thousand only).
Any single beneficiary can receive 30 transactions in a calendar year.
Remitter fills up the Xpress Money form in an Xpress Money outlet abroad and pays the principal
amount and charges. Details are entered in the system, a receipt is given to the remitter with a
unique 10 digit XPIN, Sender informs beneficiary the XPIN, and the amount remitted.
Beneficiary visits the Receive Agent, fills up the Receive Form with details of XPIN and
produces a valid photo identity and address proof. The location confirms the transaction,
Beneficiary Receives Cash.
As soon as the beneficiary collects payment from our Bank, the remitter gets SMS about the
completion of transaction.
Non-permissible Transactions under Money Transfer Service Scheme as per RBI
stipulations.
Trade related remittances (export payment, payment of services, etc.)
Remittances towards purchase of property, investments.
Remittance for credit to NRE/FCNR accounts.
Remittance as donations, contributions to charitable organizations.
Benefits:
This service is a boon to families of NRIs as well as foreign students and foreign tourist visiting
India. Overseas workers who need to provide financial support to their families in India.
Receive money as cash in minutes.
No Bank account required.
No back-end charges.
28
CORPORATE BANKING
Corporate:
Customer is not an intervention; he is the very reason for our existence.
Your Bank realizes this. We provide a wide array of commercial and electronic Banking products
to corporate/ mid corporate/SME. Despite rapid growth in credit portfolio, Banks asset quality has shown
constant improvement. Your Bank has a wide exposure to various industries. We are providing various
29

facilities from funded to non -funded from short term to long term ensuring that you get finance as per
your needs.
Working Capital:
We are a Bank with a team of technically qualified competent customer driven relationship
managers possessing wide industry experience in various segments Our Bank has taken lot of efforts to
understand customers & empathizing with their needs.
We can offer you working capital finance by way of cash credit or loans suitably structured to
your need and risk profile in consortium or as a lead banker. Our working capital solutions are based on
financial, quantitative & qualitative evaluation of your business through our technically qualified experts.
Corporate Loan:
We are happy to inform you that Bank has introduced a new scheme of Corporate Loan for our
existing and prospective Private limited / Public limited company customers. The scheme will help us to
meet the financial need of our Private limited / Public limited company without involving acquisition of
fixed assets. The scheme will induce our existing borrowers who are proprietary concern or partnership
firm to convert into corporates.
Guidelines for sanction and conduct of the Corporate Loan are as under:
Exposure Limit:
Minimum loan amount will be Rs. 50.00 lacs Maximum Loan amount would be Rs.10.00 crores.
Eligibility:
Existing customers with credit rating B, A and Prime are eligible. Request for noncustomers may be considered on selective basis and in such cases opinion report from the
existing bankers and short
30

C E D before disbursal is must. Also the existing banker must be suitably advised of the
disbursal. In case of corporate loan above Rs. 100.00 lacs full-fledged C E D should be
undertaken.
Rate of Interest:
To be linked to PLR and spread as applicable to the credit rating of the account may be
considered and rate of interest @ 1% above the applicable interest rate is charged.
Repayment Period:
3 years maximum However in deserving cases sanctioning authority may extend the repayment
period maximum upto 5 years. Quarterly/half yearly or even bullet repayment may be permitted,
if the cash flow so justify.
Processing Fees:
As applicable to term loan for existing/ prospective borrowers.
Collateral Security:
Personal guarantee of promoter directors, pledge of equity shares of promoters (upto an amount
of Rs. 20.00 lacs), charge on unencumbered assets of the corporate, independent tangible security
of promoter director/s etc. should also be insisted and obtained wherever possible.
Documents:
As applicable to Term Loans in consultation with Legal Department/Legal advisers. Charge to be
registered with ROC as usual.
Term Loan
Our Bank provides term finance/term loans for business expansion, up-gradation of existing
facilities etc. to ease the pressures on margins of the company .The Bank is providing structured
term loans to meet your short term as well as long term funding requirements. We offer specific
solution so as to match repayment with your cash flows to repay the debt thereby enhancing your
profitability.
Export Financing - Pre and Post Shipment:
Export Credit: If you are a eligible exporter

Saraswat Bank offers you Pre Shipment Credit facilities and Post Shipment Credit
Facilities
Pre Shipment Credit facilities:
We offer Pre-shipment credit by way of Packing Credit enabling you to finance
purchase/import of raw materials, processing and packing of the goods meant for exports.
We offer Pre-shipment credit by way of Packing Credit enabling you to finance
purchase/import of raw materials, processing and packing of the goods meant for exports.
31

Interest rate is linked to regular export credit facility which is 10.00% p.a. for period
upto 90 days or production cycle period with maximum of 180 days.
Post shipment Credit facilities

Post shipment credit facility is offered to an exporter to finance export sales receivables after the
date of shipment of goods till the date of realization of export proceeds. We offer our client a
choice of the following services :
Interest rate is linked to regular export credit facility which is 10.00%p.a. for period upto
90 days from bill date.
Negotiation /Payment /Acceptance of documents under letter of credit.
Purchase/ discount of export document under letter of credit.
Advance against export bills sent on collection basis.
Import Finance
Bank is providing import finance to its valuable customers by providing letter of credit facility for
its customers to purchase their raw materials. These are generally provided for 90 to 180 days.
Bank Guarantee
Bank issues various types of guarantees - performance, financial, bid bond, tenders, customs etc.
for its customers. Our guarantees are well accepted by all government agencies including
Customs, Excise, Insurance Companies, Shipping Companies and all major corporates.
Bill Discounting
We are offering facilities which are customized to suit your requirement for short term finance
from the date of sale to date of receipt of payment thereof. Our processes are simple, allowing
you to establish single window contact with competent dedicated personnel at any of our
branches as per your convenience.

Letters of Credit (Inland & Foreign)
Bank provides letter of credit facility for its customers to meet their trade purchases. These are
generally provided for 3-6 months depending upon your trade cycle. Apart from this we provide
Import Letter of Credit for importing machinery or capital goods. Such Letter of Credits are for
tenure ranging from 1-3 years depending upon the tenure
Property Loan
Saraswat Bank offers loan facility for acquiring another asset / property based on the following
conditions:32

Eligibility:
Salaried employees with minimum net salary of Rs. 10000 pm (Income of spouse may
be added)
Professionals, self - employed and others who are income tax assesse having net annual
taxable income of Rs. 150000/- for at least 3 years continuously.
Firms / companies having net annual taxable income of Rs. 1.50 Lakhs per annum and
in operation for last 3 years making cash profit for last 3 years.
Limit of Loan:
Minimum - Rs.2 lakhs
Maximum - Rs. 50 Lakhs
Basis of Advance:
25 times of net salary in case of salaried person Or
3 times of net cash accruals.(Net of tax and drawing plus depreciation) Or
60% of agreement cost (If the property is less than 3 years old.). In other cases, 60%
of value as per valuation report. a,b,c Whichever is lower
Rate of Interest:
The property loans are rated as per the Credit Rating model followed in our Bank and a good
rating can get you a better interest rate. They are linked to the Prime Lending Rate (PLR).
Repayment Period:
Term Loan - Maximum 5 years
Cash Credit - with reducing limit (in 60 monthly installments) subject to renewal every year.
Security:
Equitable Mortgage of Residential, commercial or industrial property.
Guarantor:
Need not be obtained however in case of firms, companies, guarantee of partners, directors to
be obtained.
Processing Charges:
1% of loan amount.
Documents Required:
I.T.Returns for last three years, salaries slip for last 3 months.
33

For salaried employees income proof such as Form No.16 along with salary certificate
from employer
Original Title Deeds of the property offered for mortgage.
Udyogini
Saraswat Bank introduces a scheme for women entrepreneurs of today which takes care of their
financial requirements allowing them to concentrate on their business growth . With lot of
incentives/discount being offered and minimum processing charges which are enumerated below
,you may contact our nearest branch and apply:
1) Micro Enterprises Here the finance provided will be upto Rs 2.00 lacs
2) Small Scale Enterprises Here the finance provided will be above Rs 2.00 lacs upto Rs. 50.00
lacs.
3) Medium Enterprises Here the finance provided will be above Rs. 50.00 lacs upto a maximum
limit of Rs 100.00 lacs.
Micro Finance - Self Help Groups : (Bachat Ghat)
Since inception the cause of the Small Man lay at the core of Banks heart. Bank has grown
manifold but basic values have remained the same. Saraswat Bank has therefore launched a
scheme for self help groups so as to help them raise the income levels and improve living
standards of their members. The Bank aims at teaching the members of these groups to save and
to borrow responsibly.
The Bank caters to the self-help groups who are involved in following activities
34

1)
2)
3)
Selling fruits, vegetables, milk, fish, etc.

Making of brooms, basket weavers, and other bamboo products, etc.
Any other activities viz. plumbing, hairdressing, electrician including flowers/vegetable
growers, spices and papad making etc.

Eligibility
Minimum- 10 members; Maximum -20members Operative Savings
Quantum of Finance
A/C for minimum 6 months.

Upto 4 times the amount
Interest Rate
Security
Maximum 2 lacs per group

PLR-1%
Guarantee of Group Members and Third party guarantee on case to
Repayment period
Processing Fees
Shareholding
case basis.
Not more than 60 months
Reasonable
Nominal Membership
in
savings
account
Or
Small & Medium Enterprises (SMEs)
For a business on the growth phase with a wide range of opportunities to explore, timely
availability of credit is essential to scale new heights. At Saraswat Bank we see ourselves as
partners
to
Clients
business
enabling them
to
focus
on
their
business
needs.
Bank shall try to dispose of your application for a credit limit or enhancement in existing
credit limit up to Rs 5 lakhs within two weeks, and for credit limit above Rs 5 lakhs and upto Rs
25 lakhs within four weeks, and for credit limit above Rs 25 lakhs within 8 weeks from the date
of receipt provided your application is complete in all respects and is accompanied by documents
as per check list provided.
Traders
35

Our Bank provides credit facilities to Retail Traders in the form of
Working Capital
Property Loan
Trade Finance
Saraswat Bank has emerged as a leading co-operative bank in providing trade finance
services.
The Bank is Authorized Dealer in Foreign Exchange since 1979. Our bank provides a
gamut of products for both exporters and importers.
The International Banking Division plays an active role in Forex operations through its
ten Forex Centers.
Correspondent Banking relations with 430 centers of various banks spread over 65
countries.
Export Facilities
Export Credit
Advising of Letters of credit.
Export bills on collection basis.
Export Credit
We assist exporters to compete in the International Markets by extending fund
based/non fund based credit facilities. We offer credit facility to exporters by way of,
Pre-shipment credit finances:- working capital advance granted to exporters to facilitate
execution of export order
Advising of Letters of credit

Export letters of credit received by Saraswat Bank in your favour are advised to you
promptly.You may instruct your overseas buyer to utilize our services for faster
advising of export letters of credit to you. We also ensure prompt advising of the
amendments to the export letters of credit.
Export bills on collection basis
Saraswat Bank handles the export bills on collection basis with accuracy and speed.
Documents are dispatched for collection within 24 hours.
36

Handling of export bills are subject to UCPDC/URC as the case may be and FEMA
provisions and FEDAI rules.
Import Facilities
Import Letter of Credit
Import Bill Received for Collection
Buyers Credit
Import Letter of Credit
Opening of Import Letter of Credit in major permitted currencies, in favour of

overseas suppliers across the globe.
Letters of credit are advised through major International Banks.
Arrangements are also in place to add confirmation of advising Banks to the letters
of credit on your or suppliers request.
For faster advising of letter of credit we have the facility of SWIFT.
Import Bill Received for Collection

We handle import bills received on collection basis sent by your Overseas Suppliers
through a Bank, on the basis of documents against payment or on acceptance.
Buyers Credit
Saraswat Bank makes arrangement for Short Term Buyers Credit for Import Trade
transaction.
37
INTEREST RATES
Saraswat Bank offers you attractive interest rate on loans and deposits towards domestic and
NRI customers. Deposit Scheme Interest Rates w.e.f. 1st July 2014.
The Bank has decided to revise interest rates on term deposits with effect from 1st July 2014.
A) Domestic Term Deposits:
For Deposits below Rs. 1 crore:
Tenor
ROI For
General Public
(% p.a)
ROI For
Senior Citizens
(% p.a)
7 days to less than 15 days
5.00
5.00
15 days to 179 days
7.00
7.00
180 days upto 1 year
8.00
8.00
Above 1 year upto 24 months
9.00
9.25
Above 24 months upto 36 months
8.50
9.00
9.00
9.25
8.00
8.50
For Single Term deposit of Rs. 1 crore and above but below Rs. 3 crore:
Tenor
ROI For
General Public
(% p.a)
ROI For
Senior Citizens
(% p.a)
5.00
5.00
15 days to 179 days
8.00
8.00
8.50
8.50
9.00
9.25
8.50
9.00
38

9.00
9.25
For Single term deposit of Rs. 3 crore & above:
Tenor
ROI For
General Public
(% p.a)
ROI For
Senior Citizens
(% p.a)
5.00
5.00
15 days to 179 days
8.00
8.00
8.50
8.50
9.00
9.25
8.50
9.00
9.00
9.25
8.00
8.50
NRI DEPOSIT RATES

A)
NRO deposits rate:
For Deposits below Rs. 1 crore:
ROI For
Tenor
General Public (For all categories)

(% p.a)
5.00
15 days to 179 days
7.00
8.00
9.00
8.50
9.00
8.00
For Single term deposit of Rs. 1 crore & above but below Rs. 3 crore:
39

ROI For
Tenor

(% p.a)
5.00
15 days to 179 days
8.00
8.50
9.00
8.50
9.00
8.00
For Single term deposit of Rs. 3 crore & above:

ROI For
Tenor

(% p.a)
5.00
15 days to 179 days
8.00
8.50
9.00
8.50
9.00
8.00
C)
NRE Term Deposits:
ROI for NRE Term Deposits

Tenor
(For all categories)

(% p.a.)
1 year
8.00
40

9.00
8.50
8.50
INTEREST RATE ON ADVANCES

A
The Board has revised the PLR to 14.50% p.a.
.
2
Interest Rate structure applicable to all Commercial exposure above Rs. 50.00 lacs
(Exposure = O/s Bal. of existing Term Loans undisbursed portion of Term Loan + the
sanctioned or O/s limits of Working Capital Facilities whichever is higher + the
sanctioned or O/s limits of non-funded limits whichever is higher will be as under:
Marks Scored in Credit Rating
Rating Code
Interest Rate applicable
90 and above
PRIME
PLR
80 to 89
A
PLR + 0.50%
70 to 79
B
PLR + 1.00%
55 to 69
C
PLR + 2.00%
40 to 54
D
PLR + 3.00%
Below 40
E
PLR + 4.00%
The interest rate @ PLR -1% to all Small Business Loans including Loan under Swift
Loan Scheme upto Rs. 50.00 lacs as approved by the Board of Directors, in their meeting
held on 28.05.2011, will continue.

In case where the total credit exposure is exceeding the threshold limit of Rs. 50.00 lacs
and the rating is not done, the interest rate applicable wills PLR+2% (except in cases
where lower interest rate has been specifically approved).

As regards advance under Property loan scheme and to Real Estate Sector the rate of
interest @ PLR + 2% irrespective of the amount of advance, will continue (except in

cases where lower interest rate has been specifically approved).
In view of the upward change in PLR, interest rates of all the commercial advances
including advance under Gupt Dhan Yojana and Swift Loan scheme irrespective of the
amount of limits enjoyed, will go up by 0.25% over the existing rate with effect from
B
.
C
.
D
16.08.2011.
For financing in Foreign Currency, rate of interest will be as per RBI Stipulations.
Interest on Advances under the Swift Credit Scheme
PLR - 1.00% p.a.
Interest on advances under Property loan scheme and Real estate -PLR +2.00%
Interest on Advances against tangible Securities:
Category of Loans
41
Rate
of

Interest
Loan against pledge of tangible securities viz. RBI Bonds, Bonds, NSCs, Units PLR
of UTI, LIC, IVP, etc.
Loan against gold ornaments
PLR
SERVICES
Saraswat Co-operative Bank provides information of various Value added services that the Bank
provides for its esteemed Customers under this section.
VISA Debit Card
42
To add to your convenience, your Bank has tied up with VISA for issuing Debit Card. VISA has a
long-standing name in the banking industry in India as well as abroad. Visa is a reliable, international
brand. Debit Card is basically a convenience card which can be used at a POS for making purchases at
Merchant Establishments. This card can also be used as an ATM card for withdrawing cash at all the
ATMs bearing VISA logo in India and aboard.
Debit Cards:
This card can be used as an ATM card for withdrawing cash at the following ATMs:
1.
Saraswat Bank ATMs
2.
NFS ATMs (shared network)
3.
Visa enabled ATMs
Debit Card looks similar to a credit card, bearing a Visa logo, and can be used wherever Visa logo is
displayed.
Debit card can be used at Domestic as well as International ATMs, POS machines bearing the Visa logo
at merchant establishment and for Purchases/Ticket Booking through Internet that use a secured eCommerce Payment Gateway.
Easy Pay:
Here is one more exciting facility your Bank has offered to relieve you, our esteemed client,
from spending your valuable time standing in a queue for routine utility bill payments.
All you have to do is to walk into any of our branch and register yourself under : Easy Pay"
scheme for all your recurring utility bill payments such as Telephone, Electricity Bills, Cellular Phone
Bills, Insurance Premium & many more. Once you are registered all your future bills will be paid
automatically through your bank account with us.
Mobile Banking GO MO
43
"Go-Mo" is a comprehensive Mobile Banking platform that will enable customers to manage
their own accounts with incredible ease from wherever they have mobile connectivity. The product will
give customers greater ease of use and a higher degree of convenience through an intuitive and design
rich interface.
The fund transfer facility offered through mobile banking is provided through the NFS Switch of
the National Payments Corporation of India (NPCI). This fund transfer facility comes under Immediate
Payment Service (IMPS) of NPCI. IMPS facilitate customers to use mobile instruments as a channel for
accessing their bank accounts and navigate interbank fund transfers in a secured manner with immediate
confirmation features. It offers an instant, 24X7, interbank electronic fund transfer service through
mobile phones.
Features of Go-Mo:
1.
Check balances of your savings and current accounts
2.
View last five transactions
3.
Request for Cheque Book
4.
Account Statement on email id registered with the Bank
5.
Stop Payment of Cheque
Other Bank (NFS) Network

Bank has joined National Financial Switch (NFS) on 15th October 2010 for providing ATM
access to our customers across India. NFS is the network which facilitates routing of ATM transaction
through inters connectivity between banks switches thereby enabling customers to utilize any ATM of
44

a connected bank. Under this arrangement wide network of ATMs of Nationalized, Foreign, Private
and Co-operative Banks are available to our customers using our Banks cards, i.e. our ATM card as
well as the VISA debit card.
Internet Banking
Saraswat Bank offers net banking facility to its customers to enable banking bank in the easy
confines of your home /residence and enjoy the following facilities :
Functionalities offered on Internet Banking:
1.
View Linked Accounts Details
2.
Statement of Accounts
3.
Mini Statements
4.
Status of Cheque issued
5.
View Loan Account details
Other Miscellaneous Services:

1.
2.
3.
4.
Fund transfer through RTGS NEFT for Internet Banking Users

Standing Instructions
Cash Pick Ups
Nomination of Deposits
TREASURY MANAGEMENT
Unified Treasury:
The Saraswat Co-operative Bank Ltd. is the first Urban Co-operative Bank to set up a Unified
Treasury incorporating Foreign Exchange desk and Money Market desk. The Treasury is located in the
city of Mumbai and has a well-equipped dealing room with Reuters, Bloomberg and Congenic
systems. All the treasury operations are completely computerized.
The Treasury complies with the statutory obligations of maintaining C.R.R. and S.L.R. for the
Bank apart from managing overall funds. The Treasury also publishes market update every fortnight for
private circulation which is available on this website.
45
Money/Debt Market:
Money Market & Debt Market Desk this desk deals in the Government securities, Treasury Bills
and money market instruments. The Bank also deals in retailing of Government Securities and other debt
market securities.
Treasury update fortnight ended- 11th July 2014
Liquidity watch
Liquidity Indicators
Open
High
Low
Close
CBLO (%)
8.70
9.15
6.15
6.15
CALL (%)
9.00
9.25
6.90
9.00
(Rs in Cr)
As on 11th July14
As on 4th July14
RBI Repo at 8.00%
12,174.00
2,025.00
RBI Reverse Repo at 7.00%
535.00
6,184.00
Money market (%)
Current
Previous
91 Days
8.5201
8.5619
182- Days
8.6395
8.6613
T-Bill Cut-off
46

364 Days
8.6722
8.6959
Certificate of Deposits Yield
11th July14
4th July14
3-Month
8.65
8.55
1-year
8.94
8.95
Commercial Paper Yield
11th July14
4th July14
3-Month
8.93
8.85
1-year
9.39
9.35
DEBT MARKET
1. Government securities (%):
Security
CG 2019 (5- Year)
CG 2024 (10-Year)
CG 2044 (30-Year)
Open
High
Low
Close
8.64
8.66
8.56
8.65
8.74
8.78
8.66
8.77
8.79
8.83
8.70
8.83
47
2. Inflation:
WPI-Inflation
Category
Y.O.Y
Previous
Month Same
period
(%)
figures (%)
year (%)
5.43
6.01
5.16
Period
Month
2014
of June All
Commodities
Foreign Exchange Market

Treasury update-fortnight ended 11th July 2014
1. Rupee-dollar movement & forward premia:
Currency
Open
High
Low
Close
USD/INR
60.05
60.30
59.52
59.93
6 Month Forward Premia (%)
8.88
8.97
8.39
8.46
1 Year Forward Premia (%)
8.50
8.66
8.12
8.17
2. Major cross currencies
Currency
Open
High
48
Low
Close
last

EUR/USD
1.3645
1.37
1.3574
1.3608
USD/YEN
101.42
102.26
101.04
101.36
GBP/USD
1.7018
1.7179
1.7006
1.7122
3-Month LIBOR (%)
0.2310
0.2350
0.2310
0.2340
CORPORATE SOCIAL INITIATIVES& RESPONSIBILITY
(CSR) - "YOUR OWN BANK!

Your Board of Directors believes that every organization must have over-arching and overthe horizon goals. In your own Bank, Corporate Social Responsibility (CSR) is not a new fashion but it
is an old creed. Our founders and their successors understood and underscored the principle that a
cooperative institution must always stay connected with the needs and aspirations of the society at large.
CSR constitutes the umbilical cord that connects your bank to the society. Today the Bank is ninety five
year old but the importance of CSR was understood presciently and intuitively by the leaders of your
Bank in its infancy itself. The corporate memory is resplendent with many examples of the early
awareness of CSR in your Bank. We at the Board of Directors can never forget the laudable gesture of
late WamanraoVarde and his associates on the Board then in spontaneously responding to the grave
scarcity of food grains during the Second World War and in starting on behalf of your Bank a ration shop
49

at Girgaum in Mumbai to make available foodgrains to all. At that time, Saraswat Bank was a wholly
community Bank and no Saraswat of whatever calling ever asked late WamanraoVarde and his
colleagues as to how he could venture into opening of a ration shop when the Banking Law, the
Cooperative Law and even the Bye-laws of the Bank had no provision whatsoever to facilitate its
opening. This was so because all members of the community always understood that a co-operative
institution
must
always
have
social
purpose..
Reaching out to the needy:
As part of CSR, at the macro-level your Board of Directors took serious cognizance of
the plight of farming community and continuing suicides of farmers and with a view to instilling
hope among farmers, we supported the Project Hope' of late Baba Amte's MaharogiSewaSamiti at
village Mulgavan, Taluka - JhariJamini, Distt. Yeotmal. We did so with a substantial donation of Rs. 1.00
crore to this project, where experts and volunteers are engaged in offering hope and succor to thousands of
farmers by building check dams and initiating farmers into newer cultivation practices enabling them to
bolster income generation and income supplementation.
50
Donation to Marathwada:
Your bank donated Rs 1 crore towards the purchase and installation of water tanks in drought affected villages in
Marathwada/ Vidarbha areas of the State of Maharashtra. The Donation was given to Rashtriya Sarvangin
GramvikasSanstha; the institution is associated with Marathwada Pariwar.
Assistance to Self Help Group:

51
Your bank believes in giving strength to the wings of people who are ambitious & have dreams
in their eyes. Saraswat Bank provided assistance in the form of micro-finance to the low income groups
& Women Self-help groups to encourage them to become financially independent. Bank's Chairman Shri
E.K Thakur has provided financial assistance in the form of Loan to more than 15000 to Micro and Small
Scale industries.
Encouraging the brave:
Ms Krishna Patil the third woman to successfully complete the Mt. Everest Expedition was granted loan
waiver for Rs 30 lakhs in recognition of her bravery, grit, determination and never die enthusiasm.
A young student all of 19 years pursuing graduation but with different dreams, with a dream in her eyes to scale
52

the world's highest peak was granted a loan of Rs. 30 lakhs by the bank to support her endeavour.This assistance
was important to her in the background of refusal by other sources where she had attempted for financial
assistance. The loan was granted to her in a record 6 days in April 2009 after her father Shri. Madhav
Patil, an existing client of our bank, approached the bank with the confidence that his 'Own Bank' would
definitely assist his daughter in pursuing her dream.
SWOT ANALYSIS
SWOT analysis is a strategic planning method used to evaluate the Strengths, Weaknesses,
Opportunities, and Threats involved in a project or in a business venture. It involves specifying
the objective of the business venture or project and identifying the internal and external factors
that are favorable and unfavorable to achieve that objective. The technique is credited to Albert
Humphrey, who led a convention at Stanford University in the 1960s and 1970s using data from
Fortune 500 companies.
STRENGTH:
It specifies the attributes of the person or company that are helpful to achieve the objective(s).
Saraswat Bank is No. 1 amongst the 1,700 UCBs in the Urban Cooperative Banking Sector in India
with over 90 years of cumulative banking experience.

High standard regulatory environment.
Flexible work permit system and good quality staff offering personal client service.
Bank has implemented Core Banking Solution (CBS) in the Bank. This solution primarily aims at
having a unified customer approach.

Bank is a member of the Credit Information Bureau India Ltd. (CIBIL). CIBIL is Indias first credit
information bureau and is a repository of factual information on the credit history and repayment
records of millions of commercial and individual borrowers.
WEAKNESS:
Refusal to dilute stake in PSU banks: The government has refused to dilute its stake in PSU
banks below 51% thus choking the headroom available to these banks for raining equity capital.
Lack of competitive differential with other offshore centers
Rigid legislation that inhibits business development
53
OPPORTUNITY:
External conditions those are helpful to achieving the objective(s).
Maharashtra State has a huge banking business market of around Rs. 17, 00,000/- crore. Of these
Rs. 17,00,000 crore, Saraswat Bank has a business stake of only Rs. 20,000 crore, which is a
miniscule of merely 1.2% share in the total banking business in the State of Maharashtra. This
provides a huge opportunity to the bank.

Saraswat Bank does 0.3% to 0.4% of the nations banking business. In India today, 60% of the
population do not have access to a banking product; 80% of the population do not have access to an
insurance product and 98% of the population do not have access to a stock market product. Thus,
there is tremendous untapped growth potential in the Indian subcontinent.
THREATS:
Rise in inflation figures which would lead to increase in interest rates.
Increase in the number of foreign players would pose a threat to the PSB as well as the private
players.
Anti-offshore regulations in foreign target markets restricting the development of products and new
markets.
Downsizing and reduction in banking operations in favour of rival jurisdictions.
Outsourcing to cheaper jurisdictions
Subsequent impact on rest of finance sector ecosystem
54
HR POLICY AND ORGANIZATIONAL STRUCTURE

Internal Capability Building Measures (ICBMs):
The bank pursued the recruitment and promotional policy during the year 2008-2009 as per
Internal Capability Building Measures (ICBM).
Promotional Exercise:
The Bank had undertaken promotional exercise in the year 2002 when organizational restructuring
was done as per the recommendations of M/s Seven S Associates. The Bank has been undertaking
expansion of branch network and has been implementing BPR exercise too, which is resulting in
transforming the organization. In order to cater to the growing expanse of the Bank and the need
for managerial positions in the wake of the same, a promotional exercise to various cadres was
conducted. A total of 385 employees were promoted to various cadres. All promoted personnel
have been suitably deployed at various branches (including the branches of the merged banks)
and/or departments.
Training:
During the FY 20010-11, a total of 3,552 employees, consisting of 1,800 from management and
1,500 from non-management cadre attended 125 training programmes conducted at the Staff
Learning Centre at Vashi, Navi Mumbai, as well as at various branch locations. A special emphasis
was given on training of new recruits and employees of erstwhile banks merged with this Bank at
their respective locations as well as at the Staff Learning Centre at Vashi, where the focus was on
validation process, know the Bank, the internal software package OMNI and the retail products of
the bank.
Customer Service:
The bank has adopted the following codes based on the Standard codes documented by Indian
Banks Association:
Customer Fair Practice Code

Cheque Collection Code
Bankers Lender Liability Code
Compensation Policy
55
AWARDS AND RECOGNITIONS

Bank participated in the study conducted jointly by the Great Places to Work Institute India and the
Economic Times, to distinguish a good work place from a great one. Based on the study of over
373 participants spanning a multitude of sectors, the top 50 best workplaces were elected. We are
happy to announce that your Bank has been adjudged and included in Indias Best Companies to
work for - Year 2009" and in the banking industry vertical, your Bank is placed fourth after
American Express, Kotak Mahindra Bank and HDFC Ltd. The citation reads as under: The
Saraswat Co-operative Bank Ltd. Ranked 4th in Banking & Credit Services for inspiring trust
among your people, for instilling pride in them, for creating an Environment within the workplace
that promotes camaraderie and for many other reasons that makes your organization one of the
Indias.
56
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Saraswat Co-operative Bank (2014-2015)

Saraswat Co-operative Bank (2014-2015)

Saraswat Co-operative Bank (2014-2015)

INTORDUCTION OF SRARSWAT CO-OPERATIVE BANK

Saraswat co-operative bank is an urban co-operative banking institution based

Saraswat Co-operative Bank (2014-2015)

HISTORY OF SRARSWAT CO-OPERATIVE BANK

Saraswat Co-operative Bank (2014-2015)

Shri E. K. Thakur, B.A. (Hons.), C.A.I.I.B.

Shri S.S. Sanzgiri, B.A.

Shri S. K. Banerji, B.Sc. (Hons.), D.B.M., LL.M., FIIBF.

Shri M. K. Mantri, M.A.

Saraswat Co-operative Bank (2014-2015)

State Bank of India

PERSONAL BRANCH BANKING

Saraswat Co-operative Bank (2014-2015)

Features & Benefits:

to all your frequent utility bill payments.

Saraswat Co-operative Bank (2014-2015)

Other savings accounts:

Akshay Salary Account

Features & Benefits:

Minimum balance requirement of Rs 5000/- per quarter

You can open a Current account with us if you are:

T.Y.BCOM (B&I) (SEM-5)

Saraswat Co-operative Bank (2014-2015)

Officially Valid Documents:

Features & Benefits :

Features & Benefits :

Saraswat Co-operative Bank (2014-2015)

Vastu Siddhi Housing Loan

Saraswat Co-operative Bank (2014-2015)

i) or ii) stated above whichever is lower

*Present PLR : 14.5% p.a

Saraswat Co-operative Bank (2014-2015)

Loan for construction of house

3. Legal Documents for creating mortgage as per requirement

Super-Fast Car Loan

Balance sheet, 6 month bank statement.

T.Y.BCOM (B&I) (SEM-5)

Saraswat Co-operative Bank (2014-2015)

Salaried : Max 30 times of Avg Net Monthly SalaryBusinessmen : Max 4

times of Avg Net Cash Accruals

80% of On-Road cost extended upto 100%* 1 or 2 whichever is lower

Salaried: Max 7 years. Businessmen : Max 5 years

Above 5 years to 7 years

Saraswati Education Loan

Saraswat Co-operative Bank (2014-2015)

For Education in India and Abroad

offered by college/institute/university approved by IBA.

Studies Abroad Max upto Rs. 20.00 lacs

Maximum 12 years inclusive of moratorium period.

Moratorium: Duration of the course plus an additional period of six months or

Present PLR: 14.5% p.a

0.50% less rate of interest would be applicable in case of Girl students.

For Studies in India NIL

Upto Rs. 2 lac : Nominal Membership

Upto Rs. 2.00 lacs: Two guarantors

articles and two guarantors.

T.Y.BCOM (B&I) (SEM-5)

Saraswat Co-operative Bank (2014-2015)

of the Applicants and guarantors.

is going abroad for higher education and related documents.