SB FOR CENTRAL / STATE GOVERNMENT / CONSULAR OFFICES & IND PFMS
SAVINGS ACCOUNT FOR CENTRAL/STATE GOVERNMENT & CONSULAR OFFICES |
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| S.NO. | PRODUCT FEATURES | REVISED WITH EFFECT FROM 1ST APRIL 2020 |
| 1. | Eligibility – Target customers | Central/State Government Departments & Consular Offices. For this purpose KYC data submitted to be examined to ensure that they fall under exempted category of customers.(PAN not required). In case such verification cannot be made, clear endorsement to be obtained in the deposit challan as to the specific Government Department identification of the Central or State Government to which the deposit is made. |
| 2. | NATURE OF OPERATION | · With Cheque facility |
| 3. | KYC REQUIREMENT | · As applicable to Normal Savings Bank account |
| 4. | AVERAGE MONTHLY MINIMUM BALANCE | · NIL |
| 5. | CHARGES FOR NON-MAINTENANCE OF MINIMUM BALANCE | · NIL |
| 6. | CHEQUE BOOK | · Offered free of charges |
| 7. | SMS ALERT | · Free |
| 8. | SERVICE CHARGES | · All service charges offered free |
IND PFMS |
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| S.NO. | PRODUCT FEATURES | REVISED WITH EFFECT FROM 1ST APRIL 2020 | ||
| 1. | Eligibility – Target customers | · Central/State Government Departments & Institutions, Statutory bodies, Trusts, Registered Societies, Autonomous Bodies and Local Bodies etc. on boarded on PFMS platform.
· Implementing Agencies (e.g. Statutory bodies, Trusts, Registered Societies, Autonomous Bodies, State Govt. Institutions, Local Bodies etc.) are registered on PFMS for monitoring their bank balances and tracking flow of funds. After registration on PFMS, the bank accounts of these agencies are duly validated by PFMS – Core Banking Solution (CBS) Interface and used by stakeholders for monitoring their balances |
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| 2. | Variant | Central/State Government Departments (With Cheque facility) | Other Agencies (With /Without cheque facility) | |
| 3. | KYC REQUIREMENT | · As applicable to Normal Savings Bank account | ||
| 4. | AVERAGE MONTHLY MINIMUM BALANCE | · NIL | · As applicable for Normal Savings Bank Accounts and service charges as per latest service charges notification | |
| 5. | CHARGES FOR NON-MAINTENANCE OF MINIMUM BALANCE | · NIL | ||
| 6. | CHEQUE BOOK | · Offered free of charges | ||
| 7. | SMS ALERT | · Free | ||
| 8. | SERVICE CHARGES | · All service charges offered free | ||
