STATE BANK HOLIDAY LIST 2014 - STATE WISE

SBI INTERNET BANKING FACILITY

SBI Internet Banking facility provides full access of accounts in a secured way because SBI internet banking provides you number of facilities for which you either require to visit branch or you need to contact your branch through email , phone etc

To make familiar you with Internet banking of SBI, some features of INB are given below

Services offered

1. Onlinesbi is an alternative channel for our customers and provides most of the services available at branches.
2. Fund transfer in his own accounts / in others accounts through RTGS/NEFT
3. Preparation of e-STDR, e-TDR, e-RD
4. Transaction Inquiry and Account Statement of all the accounts
5. Financial services such as fund transfers, bill payments, loan part payments, PPF transactions and issue of demand draft
6. Non-financial services such as viewing account information, request for cheque book, creating standing instructions.
7. Value Added Services like E-Ticketing , SBI E-Tax, , Donation , State Bank Virtual Card and many more through this platform

Security Aspect

SBI's Internet banking channel is protected by advanced security features, both physical and logical. SBI has considered various risks inherent in transacting over a public network such as the Internet, and has deployed appropriate security measures to protect customers. Firewalls allow only valid web traffic to reach our server. Proven 256-bit Secure Socket Layer (SSL) encryption technology is deployed to ensure that the information exchanged between your computer and https://www.onlinesbi.com over the Internet is secure and cannot be intruded upon. 'VeriSign' certifies that information exchanged during a valid session is protected during its transmission over the Internet. Additionally, the bank has installed mechanisms such as Intrusion Detection Systems. For certain categories of transactions, second factor of authorization, such as a One Time Password, is required.

Access to Internet banking is provided only on registration. The UserID and password generation is conducted in a secure environment and its distribution is automated. Customer logins and activities are tracked and archived for future reference. Customer can fix the limits on the monetary value of transactions, which they desire to carry out over this service. The customer alone can modify this.

Precautions

The Internet banking channel comes with risks inherent to the Internet arena. Banks worldwide have moved their customers to the Internet with enormous gains in efficiency and service quality. It is the customer who gains. This is exactly what we want for our customers. SBI has put in place secure and effective systems to mitigate the risks from the bank's end. We seek a little effort from your side, in maintaining this as a safe and secure channel. To enhance the security in conducting banking and other transactions, it is recommended that customers adopt the following practices.

1. Maintain different passwords for Login and for Profile.
2. Do not leave your computer unattended while you're connected to www.onlinesbi.com.
3. It is advisable to change your password if you believe that anyone has managed to get access to it. Using 'untrusted' systems for banking transactions is best avoided
4. Please log off from https://www.onlinesbi.com and close the browser window after you have finished your session. Improper logging off will leave the connection between your machine and https://www.onlinesbi.com active for some time.
5. Avoid writing down your Username and password in your diary or such place, which can be accessed by others.
6. It is not a good idea to let the computer 'remember' your Username and password.
7. Never divulge your Username and password to others.
8. Do not access OnlineSBI if your computer device is not free of malware.

FINANCIAL CHECKLIST WHILE PLANNING TO VISIT INDIA

Visiting India is always a busy occasion for NRI’s and they usually plans so many things but due to time constraints they miss some important financial works

  

NRI’s can use following 9 points checklist while planning to visit India

 

1.   If you have forgotten Internet Banking / ATM Passwords then inform your Banker  5 to 10 days before your India landing date

 

2.   Close unused Bank Accounts & Activate all the dormant / Inoperative Accounts

 

3.   Take CA Certificates for repatriation of funds from NRO to NRE Accounts

 

4.   Prepare Tax Residency Certificate for onwards submission to your Banker for TDS Concessions

 

5.   Finalise property related investment and if require then apply for Home Loan and execute power of attorney for property registry and home loan documentation

 

6.   Take Overdraft Facility against your Fixed Deposits

 

7.   Open Demat Account and submit Share Certificates for dematerialization also if illegible then  take trading account

 

8.   Take Insurance policy (preferably a Term plan)

 

9.   If having Indian Income then file Income  Tax Return

POWER OF ATTORNEY FOR NRI’S

Frequently asked question on Power of attorney execution by NRI’s

1.      What is a Power of Attorney?

Simply stated, a Power of Attorney is an authorisation. It gives power or authority to a person, to act for another. The scope of power or authority is as contained in the deed.

2.      Who are parties to the Power of Attorney?

The person who gives the power is known as the “Donor” or “Grantor” or “Principal.” The person in whose favour it is granted is known as the “Donee” or “Grantee” or “Agent” or “Attorney.”

3.      Are there many types of Powers of Attorney?

Yes. The two major types are General Power of Attorney and Special Power of Attorney. A General Power of Attorney is used when the Agent is empowered to undertake many transactions on behalf of the Principal. A Specific Power of Attorney is granted when the Agent is to undertake specific transactions.

4.      I am living abroad. I want to appoint my father or mother or a relative as Agent. Can this be done?

Yes. You can execute a Power of Attorney and send it to the Agent, in India. The Agent can adjudicate this Power of Attorney, within three months after receipt in India.

5.      What is this adjudication?

This is a method of paying proper stamp duty for the Power of Attorney. This is a simple process. The stamp duty payable for a Power of Attorney varies from State to State in India. It is also determined on the basis of contents of the deed.

6.      What is the process for due execution abroad?

You have to sign this before a Consulate Officer or a Notary in the country of your residence. Your signature in the deed has to be attested by the Consulate Officer or Notary.

7.      Are there any precautions?

Yes. Make sure that you sign every page. Most of these deeds are signed only in the last page. This is not accepted, generally, in India. At times, the date on the document and the date of attestation differ. This is never accepted. Always send a covering letter or note with a date on it. This will help in computation of time of three months for adjudication.

8.      I want to make a Will in respect of my assets in India. Can I grant a Power of Attorney for this?

No. An Agent cannot make a Will for you.

9.      Suppose the Agent expires. What happens to the Power of Attorney?

Normally, the Power of Attorney will lapse. However, all the acts already done legally by the Agent will be binding on you.

10.    I have properties in many States in India. I want to give separate Powers of Attorney in respect of each item. Is this possible?

Yes. You can execute as many Powers of Attorney as you desire.

11.    I want to grant a Joint Power of Attorney. Is this possible?

Yes. You can empower two or more persons jointly or severally to act on your behalf.

12.    What are the implications of a Power of Attorney?

The acts of the Agent would be normally binding on you. If a mortgage is made in your name, there could be a personal liability, which may extend beyond the value of property in question. If the acts of the Agent violate Acts such as Foreign Exchange Management Act, you may be personally liable. Therefore, make sure that the document is clear and you understand the implications.

TIPS FOR SAFE BANKING

Recently banking industry have came across with numerous fraud incidents , in which fraudsters misused a little ignorance of genuine account holders and either siphoned off their hard earned money or used their accounts to create maze of fraud transactions

Some simple tips to prevent customers for becoming target of fraudsters

1.              Do not sign any blank document.

2.             Do not share your passwords of ATM or Internet Banking with any one including your bank and its employees.

3.              Whenever you change your address or contact numbers, instruct your bank to update the same.

4.                   Do not keep inactive accounts i.e. if you are not using any account then close that account.

5.                   Do not maintain more than one savings / checking / regular account in one bank and keep all your accounts in one branch for proper monitoring of account.

6.                   For State Bank customers, try keeping all your account under single CIF (CIF means customer identification number).

7.                   If you are holding NRI /PIO/OCI Status, then don not keep any resident account

8.                   NRO accounts are meant for basically receiving of Indian income payable to NRI, so if you are not having any such incomes then close your NRO account.

9.                   Always provide PAN in NRO account , so that TDS can be deposited in your PAN

10.               Banks are offering various channels for account operations , so do not give Power of Attorney until it is necessary , all unused POA should be withdrawn by intimating bank

11.               Do not leave your signed blank cheques.

12.               Any lost cheque should immediately be reported to bank for stop payment.

13.               Do not keep large sums in your savings / checking/ regular accounts, keep your excess funds in Fixed Deposits.

14.               Check your account statement or passbook at regular intervals preferably once in a month.

15.               Always communicate with official email id of Bank Branch, do not respond to personal email id of bank employee, official branch email id is available at bank website (in state bank, all the branches were assigned their unique email id v.i.z sbi.xxxxx@sbi.co.in , here ‘xxxxx’ is 5 digit branch code, for e.g. our branch code is 15194 so official email id of this branch will be sbi.15194@sbi.co.in ).

16.               Do not act or reply to those emails where recipient id is mentioned as "undisclosed recipient" or your id is in ‘cc’.

17.               Always use official website of banks for referring rules & regulation of the Bank and product.

18.               Customer and Banks both are responsible to follow rules & regulation drawn by apex bodies as RBI, FEMA, CBDT, FM, IT etc, so refer their official websites before doing any uncommon transaction through banks.

19.               Do not take decisions on verbal suggestions of bank employees always take all the advises in writing with clear meaning.

20.               Pay more attention while investing in other than regular bank products and read its terms and conditions carefully.

21.               Freebees offered by any bank or its employees should be crossed checked at official bank website

22.               While remitting funds from any financial institution from abroad, please verify whether remitting institution is able to credit the same in your NRE Account or not.

SBI’S MONEY TRANSFER SERVICES

SBI offers remittances to India through multiple channels. You can select the mode of remittance based on the time within which you need to remit to India. SBI’s new-age remittance schemes are most user friendly and have back up of excellent service support. SBI has the best reach with 84 offices in abroad and over 14,000 branches in India under Core Banking network.

SBI EXPRESS RUPEE (From Gulf)

Tie ups with 16 major exchange companies and banks located in Middle East for rupee remittances. NRIs can approach these companies/banks for same day/next day transfer to a beneficiary account in India under “SBI Express”.

Rupee remittance on electronic platform through Exchange Companies/ Banks from Middle East countries to beneficiaries across India in a quick and cost effective manner. Online credits through Direct Credit to 16000 plus SBI branches and through NEFT (electronic) credit to 45000 branches of other banks in India. Beneficiary will be credited within 1 day and SMS to beneficiary/ Remitter mobile number sent.

Remitters need to walk into the Exchange Co/ Bank to give remittance instruction or use their ATM/ Phone Banking/ online Banking Facility (if available at that Bank/ Exchange Company). Charges may vary at different Exchange Companies/Banks: Normally most competitive.

SBI Express Rupee is available at the following Exchange Companies/ Banks in Middle East: -

i)       Kuwait: (a) Kuwait India International Exchange Co.WLL (b) Al Mulla International Exchange Co.WLL (c) Al Muzaini Exchange Co.

ii)      Saudi Arabia: Arab National Bank

iii)      UAE: (a) Emirates India International Exchange Co. (b) UAE Exchange Centre LLC  (c) Al-Rostamani International Exchange Co. (d) City Exchange LLC (e) Wall Street Exchange Centre LLC (f) Al Ansari Exchange Co.

iv)     Bahrain: (a) Bahrain India International Exchange Co. (b) Bahrain Finance Co.

v)      Oman: (a) Mustafa Sultan Exchange Co. LLC (b) Oman & UAE Exchange Co. LLC

vi)     Qatar: (a) Doha Bank (b) Trust Exchange Co.WLL, Doha

Complete details of such tie up and how it works are available on www.onlinesbi.com/glsrupee

SBI INSTANT TRANSFER (From SBI Branches in 18 Countries)

Fastest way to send remittance. Transfer of money in just 3 minutes in any of over 16000 branches of SBI and SBI Associate Banks in India.

No limit on the amount that can be remitted. Attractive Exchange Rates and low remittance charges.

Remitter need not be an account holder of SBI’s foreign office/ branch. Remittance through foreign office “Walk In” or “Telephone Banking” or through “Internet Banking Facility” as available at that office.

Available at the Foreign Office/ Branch of SBI in 18 countries - Australia: Sydney, Belgium: Antwerp, Canada: Toronto and 6 other Branches, China: Shanghai, France: Paris, Israel: Tel Aviv, Japan: Tokyo and Osaka, Maldives: Male, Nepal: Kathmandu, South Africa: Johannesburg, UK: London and 5 other branches, USA: NY and 8 other branches, Oman, Singapore, Bahrain, Mauritius, Hong Kong & Bahamas

For more information, please visit http://www.onlinesbi.com/nri

SBI EXPRESS REMIT US (From USA)

NRIs can use “SBI Express Remit” for money transfer from USA to India. On an online request by them on the website SBI arranges for auto debit of their US Bank Account with any bank in USA and credit the beneficiary account in India in Indian Rupees within 3 business days.

A user-friendly web based product to send remittances from USA to India by Non Resident Indians and others.

Completely online product. One-time Registration. Online tracking of remittance request through every stage of the transaction. Also SMS to beneficiary mobile number.

On receipt of online request from Remitter, his / her account in USA with any US Bank is debited by SBI through US Automated Clearinghouse (ACH) mechanism.

Beneficiary account credited within 3 business days. Online credits through direct credit to 16000 plus SBI branches and through NEFT credit to 30000 branches of other banks in India. Nominal/NIL charges and Best Exchange Rates.

More information at - http://www.onlinesbi.com/glsus

SBI EXPRESS Rapid Remittance (From USA)

Remitters are required to approach their bank in USA for credit to a SBI Account by a domestic wire transfer and the money gets credited in Indian Rupees to beneficiary account in India on the next business day itself.

One-time Registration on GLS website. Available to all SBI Express Remit customers.

Initiate transaction for remittance to beneficiary on GLS website and generate a Transaction Reference Number. Remitter then needs to transfer funds from his bank in USA through Domestic Wire/ Internet Banking transfer to a designated bank account of SBI in USA quoting Transaction Reference Number.

Other features same as SBI Express Remit US.

More information at - http://www.onlinesbi.com/rr

Free Rupee Remittance (From USA)

No charges for remittance to India.

You have to become a Registered User with SBI New York by filling in the AUR form. Your signature on that form has to be notarized.

Documents required along with this are: - 1) Copy of US Driving License (with current address), 2) Copy of the latest Pay Slip (These two documents need not be Notarized)

On the day of sending money to India you need to fill in RMT-1 form and courier/mail to SBI New York along with the Cheque (Personal or Cashier’s Cheque) drawn in favor of State Bank of India New York.

For further details please visit www.statebank.com/remittance.htm

SBI EXPRESS REMIT UK (From UK)

Remittances from UK by account holders of any bank there can be affected within 2 business days using the internet banking transfer facility of Remitters’ UK bank for affording an online credit to SBI designated account in London.

Completely online. One-time Registration. For sending money to India initiate a transaction on GLS website and generate a Transaction Reference Number.

Remitter to transfer funds from his bank in UK through Internet Banking to a designated bank account of SBI in UK quoting Transaction Reference Number

Credit to beneficiary within one business day of receipt of funds in the account of SBI in UK. Online credits through Direct Credits to 16000 plus SBI branches and through NEFT electronic credit to 45000 branches of other banks in India.

Online tracking of remittance request through every stage of the transaction and also SMS to beneficiary mobile number. Nominal /NIL charges and Best Exchange Rates. Beneficiary account can be with any bank in India

More information at - http://www.onlinesbi.com/glsuk

SWIFT / Wire Transfer/TT:

NRIs can send remittances to India using SBI's foreign branches or a vast network of 600 correspondent banks across the globe. The remittance can be sent to the beneficiary's branch directly. If SWIFT code is not available for your branch, you can select a SWIFT code of any SBI branch (eg – Swift code of SBI Spl NRI Branch, Lucknow is SBININBB763), which will handle the SWIFT transaction and transfer the funds to your beneficiary's account. 1 to 3 days. Country specific instructions –

Currency	SBI Branch/Corrsp & Swift Code
US Dollar	SBI Newyork, SBINUS33 ABA routing -0260-0914-0, chips 034282,
Pound/Euro	Pound - SBI London,SBINGB2L, Sort Code 600159; Euro - SBI Frankfurt, SBINDEFF,
AED	National Bank of Abu Dhabi, NBADAEAAVOS

Draft / Cashier's Cheque / Foreign Currency Cheque

If a remittance is sent as a demand draft/Cheque, the beneficiary can deposit it at his SBI branch. The draft/Cheque will be sent collection. After collection, the proceeds will be deposited in the account. DDs issued by Exchange companies in Gulf are immediately credited. Also Currency notes accepted. Drafts in foreign currency/ Rupee can also be sent to SBI Branch by post for credit of fixed deposit account or SB a/c in Rupees.

SBI RAPID REMITTANCE PROCESS

For online fund transfer one can use this process where ACH is not available

SBI rapid remittance is to be done with following 2 step processes.

STEP 1: Register yourself at our online fund transfer website https://remit.onlinesbi.com/glsus/ (Commonly known as SBI Express) and Initiate a remittance request in our said site and generate a transaction ref. no. (This should be done by you).

STEP 2: You are required to FUND this remittance request. i.e. you have to transfer the remittance amount from your US Bank account to SBI GLS's account with Bank of America, New York by means of a WIRE TRANSFER, either through login to your US Bank account website (if the facility is available) or you have to visit your US bank and do the same. The details of our US account / process is available in our website under RR.

ONLINE PROCESS FOR RAPID REMITTANCE FUNDING INITIATED BY A BOA CUSTOMER

Step 1: Go to the SBI GLS website and schedule X amount of dollars as transfer, making a note of transaction reference number RR00000000XXXXX. Best to take a printout of all the instructions as the details are all mentioned there.

Step 2: Login into BOA Net Banking and go to the Transfers tab (Note: For wire transfers, greater than 1000$, the Safe Pass feature of BOA needs to be activated on the website)

Step 3: Select "Outside the bank" and Domestic + Business (Checking account) and add the account using the Routing Number option (available at your GLS Transaction slip). It will give you a warning that you are adding a BOA account as an "Outside the bank" account but the user needs to ignore this warning as he is using this account for wire transfer hence it must be classified as "Outside the bank"

Step 4: Fill in all the details of the address of the BOA receiving bank branch (available at your GLS Transaction slip). Business name may be put as "State Bank of India - GLS" and nick-name as "SBI-GLS". The e-mail ID must be: ach.gls@sbi.co.in IMPORTANT: The Notes must mention the transaction reference number and ONLY THE TRANSACTION NUMBER, E.g.:- RR00000000XXXXX

Step 5: Click "Add Account" and it should show up in your "Outside the Bank" tab from now on to enable easy access for wire transfers. Do mention the RR00000000XXXXX number wherever possible including the message being sent by BOA on your behalf to the SBI business checking account.

Step 6: Now transfer the funds from your BOA account to said added account (mention Ref no.)

I suggest for the first time transfer, please remit small amount and confirm the credits in your NRE account by verifying balance of your NRE account after 48 hours

This system takes 24-48 hours to credit in your NRE Account