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Sr. No. Index Page
1 INTRODUCTION 3-4
9 CUSTOM DUTY 20
12 PENSION 37 – 38
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1) Introduction
a. Banking Transactions undertaken by Banks on behalf of Central/State Governments, as agents of RBI, are
referred to as Government Business. Apart from receipts and payments on behalf of the Governments,
the Bank also undertakes operations of various Deposit schemes of the Government, like Public Provident
Fund Scheme (PPF), Senior Citizens‟ Savings Scheme 2004 etc. Reserve Bank of India has also
entrusted operations of their schemes like RBI Bonds to authorized bank branches. Reserve Bank of India
pays commission at the prescribed rates for the transactions undertaken by the bank.
b. Government businesses are transacted through branches authorized specifically for the particular activity.
Authorization is granted by the respective Government Authorities (for example, CBDT for collection of
Direct taxes). Hence for authorization of any new scheme bank / branch has to first approach the
concerned government Department.
c. Once the authorization is given by the Government, RBI also approves the same and instructs the bank as
to the procedure of operations. Normally there is a focal point Branch for the operations and a designated
account thereat, to which the collections / payments are pooled in. Later on, the remittances /
reimbursements are affected in this account with RBI /SBI depending on the prescribed procedure for an
activity. Periodical Scrolls and other statements are submitted in time to the RBI/ Government
Department, as per their requirements.
d. Various Government Departments/ Public Sector undertakings, without any approval or involvement of
RBI can also entrust the bank to carry out banking operations (Receipt of revenue / payment of grant
pension etc.). In such cases RBI will not pay any commission to the bank. Such transactions are carried
out on mutually agreed terms / Memorandum of understanding (MOU) - (Example BSNL, NPS by
PFRDA etc.). More often the Technology advantage of the bank is utilized by the Government for their
banking requirements.
e. Turn over commission is claimed from RBI or from SBI (where RBI is not present) on quarterly basis.
Claims in the prescribed format have to be preferred by the respective Focal point / Link Branch with the
reimbursing Bank for payment of the commission.
f. Government Business has now acquired a wider definition among the bankers. This has become an
avenue for relationship banking and a potential source for low cost Deposits (CASA). Banks with their
established relationship with the Government Departments are able to track the funds that are remitted for
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various Government expenditure / schemes etc. Such leads are followed up and realized by the bank at
State/ District/ branch levels for garnering low cost deposits. Government Business Cell functioning in
New Delhi also helps the branches to generate, follow up and realize leads for Government related
deposits.
g. Government Business transactions undertaken by the bank can be of the following nature:-
vi.Pension payments
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Schemes and their salient Features
2) Public Provident Fund
2.1. Introduction
Public Provident Fund is a scheme of Central Govt. framed under the Public Provident Fund Act, 1968.
The scheme came into force w.e.f 01.07.1968. This is a government backed, long term small savings
scheme. The account under this scheme can be opened in selected branches of banks and post offices. At
present all branches of our bank are authorized for opening accounts under this scheme. List of these
branches are available in the UBINET.
2.2. Eligibility
a. A Resident Indian individual on his behalf or on behalf of a Minor is eligible to open a PPF account.
b. The account on behalf of a minor can be opened either by the father or mother of the minor only and not
by both.
c. In case of death of both father & mother, grand parents can open the account as guardian of the
grandchild.
d. Only one PPF account can be opened by the individual, except an account that is opened on behalf of a
minor.
e. Opening of PPF account by NRI (Non Resident Indian), HUF (Hindu Undivided Family), Person of
Association (POA), Trust or in Joint Name is not permitted.
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b. Minimum one subscription and maximum 12 subscriptions are allowed in a financial year.
c. If the subscription is done through Cheque / DD, the date of realization will be the date of deposit.
d. The combined deposit amount in the PPF account of an individual and in the account operated by this
individual on behalf of a Minor together can‟t exceed Rs.1,50,000.
2.5. Duration
a. The term of the account is 15 financial years, excluding the financial year in which the account
was opened.
b. In case of death of the account holder, their nominee/legal heirs can close the account before maturity.
Click here
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That the amount is required for the treatment of serious ailments or life threatening diseases of the
account holder, spouse or dependents on production of supporting documents from Competent
Medical Authority.
That the amount is required for higher education of account holder or the minor account holder on
production of documents and fee bills in confirmation of the admission from recognized institute.
The premature closure will attract a penalty which will be equivalent to 1% less interest on the
prevailing Interest rates as per Govt. Guidelines.
f. In case of extended accounts for blocks of 5 years, partial withdrawal is allowed up to 60% of the balance
at the beginning of the extension period.
g. A resident who opened an account under PPF Scheme, subsequently becomes a Non
Resident during the currency of the maturity period, the account shall be deemed to be
closed with effect from the day he / she becomes a non-resident and interest with effect
from that date shall be paid at the rate applicable to the Post Office Saving Account up to
the last day of the month preceding the month in which the account is actually closed.
h. The form used for withdrawal is Form C
2.10. Nomination
a. Nomination facility is available in the name of one or more persons.
b. The shares of the nominees can also be defined by the customer.
c. The form used for initial nomination is FORM E and for subsequent changes is FORM F.
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d. If the minor is a nominee then the customer should also appoint somebody to receive and hold the PPF
funds until the nominee attains the maturity.
e. No nomination is permitted in case of minor‟s account. Nominee cannot continue the account after the
death of the customer.
f. Nominee can apply to close the account and receive the fund after the death of the customer in FORM G.
2.14. Passbook
a. Passbook will be issued to every subscriber.
b. In the event of loss of passbook a duplicate passbook can be issued on payment of a fee.
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3) Senior Citizen’s Deposit Scheme, 2004
3.1. Introduction
a. Senior Citizen‟s Deposit Scheme, 2004 is a Central Government Scheme for Senior Citizens for better
returns. All the nationalized banks and private Banks are authorized to open account under this Scheme.
b. All branches of our bank which have been designated to open PPF accounts can open accounts under this
scheme also. List of these branches are available in the UBI net and also circulated with GBD circular
no.297 dated 27/09/2014 and circular no 425 dated 27.01.2016., GBD Circular Letter: 11718 Dt. Feb 03,
2017.
c. FORM A is used to open the account.
d. Ministry of Finance (MOF) has advised all agency banks to report the data for SCSS accounts on
fortnightly basis. For accounts opened/matured during 1st to 15th: Reporting should be done on 16th and
for accounts opened/matured during to 16th to 30th /31st: Reporting should be done on 1st.
3.2. Eligibility
a. An Individual who has attained the age of 60 years and above
b. An Individual who has attained the age of 55 years but has retired voluntarily under VRS /
Superannuation, within 1 months of his retirement or receipt of retirement benefits. “Retirement
benefits”: means any payment due to the depositor on account of retirement gratuity, commutation, leave
encashment, group linked insurance, Ex-gratia payment and provident fund
c. The age limit for Retired Defence Personnel (Excluding civil defense) retired on superannuation, are
eligible at the age of 50yrs. (as per GSR 1235 (E) Dt. 3 Oct, 2017)
d. The Account can be opened in individual capacity or a jointly with spouse of the senior citizen/ Retiree.
e. NRIs and HUFs are not eligible to open SCSS 2004. However, if a depositor who subsequently becomes
a Non Resident Indian during the currency of the account, may continue the account till its maturity on a
non- repatriation basis and the account shall be marked as “Non Resident account”.
3.3. Monetary Limits
a. The individual may open one or more accounts in multiples of Rs.1000/-.
b. Subject to a maximum of ` Rs.15 Lac including all the investments made by the customer in various
accounts.
c. Both the spouse can open separate accounts of ` Rs.15.00 lac each.
3.4. Duration
a. The deposits are for a period of 5 years.
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b. The same can be extended once for a further period of 3years by the depositor. An application in FORM
B should be made within a period of one year after the date of maturity period.
3.5. Rate of Interest
As declared by the Central Government from time to time and which is payable at the end of
March/June/September /December. Click here
3.7. Nomination
a. The depositor may nominate a person or more than one person at the time of opening the account or any
time before the closure of the account.
b. The nomination can be varied/cancelled by submitting fresh nomination form.
c. The form used for nomination is FORM C.
d. In case of joint account the nominee‟s claim will arise only after the death of both the account holders.
3.8. Transfer of Account
The account can be transferred to other branches/banks/post offices. The depositor has to apply in the
prescribed format FORM G.
3.10. Passbook
A passbook will be issued to every depositor.
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4) SUKANYA SAMRIDDHI ACCOUNT (SSA)
4.1 Introduction: As this is one of the flagship savings schemes launched by Government of India and
adequate publicity has been accorded by different agencies to this scheme, it has generated much interest
in General public. Since Sukanya Samriddhi scheme offers a host of benefits to its account holders as far
as tax benefit, rate of interest etc are concerned, especially from our existing customers. Besides, this will
also be an equally rewarding opportunity to canvass new SB accounts, particularly from young
professionals, entrepreneurs, and salaried class people by offering them the opportunity to open SSA
accounts with our branches. Sukanya Samriddhi Account Yojana offers a small deposit investment for the
girl children as an initiative under „Beti Bachao Beti Padhao‟ campaign. One of the key benefits of the
scheme is that it is quite affordable and offers one of the highest rates of interest and interest benefits as
well.
4.2 Account opening: A natural/ legal guardian on behalf of a Girl Child upto the age of 10 years. However
with the given grace period an account can be opened in the name of girl born one year
4.3 Maximum number of accounts: Up to two girl children or three in case of twin girls as second birth or
the first birth itself results in three Girl Children.
4.4 Monetary Limit: Account can be opened with Min. Rs.250 as initial deposit. A minimum of Rs. 1000 is
to be deposited in the financial year and thereafter in multiple of one hundred rupees with annual ceiling
of Rs.150000 in a FY.
4.5 Documents Required: Birth Certificate of Girl child; Address proof of parents/guardians; Identity Proof
of the parents/guardian.
4.6 Tenure of the Deposit: Maximum period of the deposit is 15 years from the date of opening of the
account & the tenure of the deposit is 21 years from the date of opening of the account.
Permissible from one post office to another, from bank to post office or from one
bank to another bank.
No fee is to be charged on submission of proof of shifting of residence, otherwise, a fee of
Rs.100/- is to be charged
4.8 Interest on Deposit: As notified by the GOI, compounded annually. Click here
4.9 Tax Rebate: As applicable under section 80C of the IT Act, 1961. Interest accrued in the account and
withdrawals thereof are fully exempt under sec. 10(11) of Income Tax Act.
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After 5 yr. in cases of extreme compassionate grounds such as medical support in life
threatening diseases to be authorized by an order by the Central Government supported by
complete document.
In the event of change of status of account holder i.e. citizenship or residential status.
Pre mature closure is also permitted in the event of marriage of the account holder if
she has attained the age of 18 years.
The account can be prematurely closed at any point of time after opening subject to payment of
interest at Post Office Savings Bank rate
4.11 Irregular Payment/ Revival of account: If there is no deposit in a financial year, is called a default in
the subscription. It can be condoned by depositing Rs.1000 (subscription amount) and Rs.50
(default fee) for each financial year of default.
4.12 Mode of Deposit: Deposit can be made through Cash/Cheque/ Demand Draft at any of our 1227
Authorized Branches.
4.13 Withdrawal:
Withdrawal is permissible only when the girl has attained the age of 18 years or has passed
10th standard whichever is earlier.
To meet the financial requirements at the time of higher education. 50% of the
previous financial year‟s balance can be withdrawn in lump sum or in five yearly
installments.
4.14 Closure on Maturity: Completion of 21 years from the date of opening of the account & where the
marriage of the account holder takes place before completion of such period of 21 years. (Affidavit
verifying Account Holder‟s 18 years of age as on date of closing of account). No interest is payable after
completion of 21 years from the date of opening.
Circular: GBD Circular Letter No: 325/15, dated 31st March, 2015.
Available on: UBINET >> E-manual >> Govt. Business.
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5) Kisan Vikas Patra (KVP):
5.1. Introduction: Kisan Vikas Patra (KVP) is a risk free investment scheme. This scheme is for people who
are less risk averse and are looking for stable income.
5.2. Eligibility:
a) Any Individual who is an Indian citizen having age of more than 18 years.
b) Trust/HUF/Institutions are not eligible.
5.4. Maturity:
a) As per GOI Guidelines. Currently the amount doubles in 9 years and 4 months.
b) Investor can en-cash his certificate after the lock-in period of 2 years and 6 months.
c) If a certificate is encashed within a period of one year, only the face value of the certificates shall be
payable. If a certificate is encashed after the expiry of one year but before two year and six months, the
interest at the prevailing POSB rate along with the face value shall be payable.
5.6. Transferability:
a) The certificates can be issued in single or joint names and can be transferred from one person to any other
person, any number of times.
b) KVP can be transfer from one bank to another bank or post office anywhere in India.
5.7. Nomination:
a) Nomination facility is Available.
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6) DIRECT TAX (CBDT) – Physical Collection
6.1. Introduction
Our bank is authorized by CBDT to collect direct taxes. Customers can deposit direct tax through 1204
branches of our bank authorized for this purpose. List of 1204 CBDT authorized branches of our bank is
available at UBINET.
6.2. Eligibility
Individuals or firms who have been issued PAN by the Government can deposit direct tax.
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DIRECT TAX (CBDT) – Online Collection through Internet Banking
6.8. Introduction
Our bank is authorized by CBDT to collect direct taxes. Customers of our Bank can pay the direct tax
online using e-Banking facility of our bank.
6.9. Eligibility
Individuals or firms who have been issued PAN by the Government and have taken E Banking facility of
our bank can deposit direct tax online using our E Banking gateway.
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7) Goods and Service Tax (GST):
7.1. Introduction:
Goods and Services Tax (GST) was introduced in the 101st amendment in constitution. Implementation of
GST was intended to develop a unified tax structure which would drive the economy towards a
destination based tax shifting from source based one. Simplified tax structure would also enhance export
demand and create investor friendly environment. Broadening of tax net and stringent compliance norms
would also increase revenues thereby containing dependence on borrowing and enhancing debt servicing
ratios. Here we will discuss about the structure and impact of the new tax regime on various segments of
the economy.
7.2. Tax structure under GST:
Rates of Goods and Services Tax (GST) were finalized in 14th meeting of GST council held on May 18,
2017. The Committee approved rate for goods at nil rate, 5 per cent, 12 per cent, 18 per cent and 28 per
cent. Tax slabs for, textile, biris, and footwear are yet to be decided, whereas, alcohol, petrol and diesel
have been kept out of GST structure.
7.3. Various charges under GST:
a) Forward charges: Under GST, every person is required to collect and pay any taxable services or goods
supplied by them.
b) Reverse charges: Under reverse charges, every person is required to pay GST on input services and
goods purchased from both un-registered vendors and specific category services (advocate, recovery
agent and transport agencies).
c) Input tax credit: GST is value added service where each registered entity is liable to pay tax on the value
added by it on the goods and services in the value chain. Therefore, a registered entity would pay GST on
output service after claiming the eligible input tax credit.
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c) Identifying service recipient location: Under new tax regime, service taxes of a recipient will be
charged on the base location (place of recipients‟ address mentioned in the account details). However, in
the era of digitization and freely mobilizing population, indentifying service recipient location becomes a
constrain.
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7.7. Types of GST:-
a. CGST: Central Goods and Services Tax, paid on all transactions, collected by the Center.
b. SGST: State Goods and Services Tax, paid on all transactions within a State, collected by the States.
c. IGST: Integrated Goods and Services Tax, paid on all inter-state transactions, or import of goods into
India, collected by the Center.
Cash
Cheque
DD
All the branches are authorized for GST collections through GSTN menu. Please note that customers has
to visit GSTN website https://www.gst.gov.in for generation of the GST challan and thereafter the
Challan can be produced at branches to be processed through GSTN menu.
b. Internet Banking
Retail users.
Corporate users (maker / checker).
Any UBI customer having internet banking facility can pay GST by using their retail / corporate internet
banking user Ids.
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8) INDIRECT TAXES (CBEC) – online Collection through E-Banking
8.1. Introduction
Our bank is authorized by CBEC to collect Indirect taxes. Customers of our Bank can pay the Indirect tax
online using e-Banking facility of our bank.
8.2. Eligibility
Indirect taxes through online can be remitted by a customer of the Bank who is availing E-Banking
facility from us. The remitter must have a 15 character Assessee Code issued by the Government
Department.
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9) CUSTOM DUTY – Online payment through Internet Banking
9.1. Introduction
As per CBEC guidelines all custom duty payments of more than ` one lac shall be payable only
electronically. Our Bank is among few banks authorized for e-collection of customs duty for all the 103
custom EDI centers. The E-Payment facility for custom duty can be assessed by our internet banking
users from anywhere for payment to any of the 103 custom payment centers.
9.2. Eligibility
Customers having IE code issued by DGFT and availing our E Banking facility can make E Payment of
custom duty.
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10) National Pension System by PFRDA
10.1. Introduction
National Pension System (NPS) which is administered and regulated by Pension Fund Regulatory and
Development Authority (PFRDA). NPS is a voluntary, defined contribution retirement savings scheme
designed to enable the subscribers to make optimum decisions regarding their future through systematic
savings during their working life. NPS seeks to inculcate the habit of saving for retirement amongst the
citizens. It is an attempt towards finding a sustainable solution to the problem of providing adequate
retirement income to every citizen of India. It is operated with the participation of the Central
Recordkeeping Agency (CRA) which is the National Security Depository Ltd. (NSDL). NSDL has
appointed facilitators across the country known as CRA-FCs. The Trustee Bank for the scheme is Bank of
India. There are seven Pension Fund Managers to manage the pension wealth. The financial institutions
including PSU banks and Post Offices act as Points of Presence (POP). Our bank has been authorized to
act as POP (Point of Presence) under the scheme. Mumbai Samachar Marg branch of our bank is
functioning as the Point of Presence (POP), and as the centralized back office of the bank for the scheme.
All other branches of our bank are extending the service to NPS subscribers as POP – Service providers
(POP –SP).
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b. Employee also get tax deduction for the contribution made by the employer under section 80CCD (2) of
IT act upto 10% of salary ( Basic +DA) which is in addition to the tax benefit available under Sec. 80
CCE. No Monetary ceiling.
c. An additional deduction for the investment up to Rs 50 thousand in NPS Tier 1 Account has been
introduced under Sub section 80 CCD (1B).
d. Tax benefits would be applicable as per the Income Tax Act, 1961 as amended from time to time.
e. Contribution made by the employer (upto 10% of Basic + DA) is allowed as a business expense under
Section 36(1) iv (a) of Income Tax Act 1961.
a. Tier-I account
The applicant shall contribute his/her savings for retirement into this non-withdrawal account. This is the
retirement account and applicant can claim tax benefits against the contributions made subject to the
Income Tax rules in force.
b. Tier-II account
This is a voluntary savings facility. The applicant will be free to withdraw his/her savings from this
account whenever he/she wishes. This is a not a retirement account and applicant can‟t claim any tax
benefits against contributions to this account.
The subscribers joining the NPS after the age of 60 would be eligible to continue in system up to
age of 70 years and during this period the subscriber may continue to contribute.
The subscribers joining NPS beyond 60 years will have the same choice of the Pension Fund as well as
the investment choice as is available under the NPS for subscribers joining before 60 years. The asset
allocation as is applicable to the subscribers beyond the age of 55 years in Life Cycle Fund will be
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applicable for those joining after 60 years. The asset allocations in the Life cycle fund beyond age of 60
years will be as under:
c. Applicant should comply with the Know Your Customer (KYC) norms as detailed in the Subscriber
Registration Form. All the documents required for KYC compliance need to be mandatorily submitted.
d. NRI‟s can also join the scheme subject to FEMA regulations
e. Tier II account can be opened by a Tier I account holder only. PAN Card is mandatory for opening and
operations of Tier II accounts.
10.6. NPS Corporate – Eligibility
a. Eligible entities to register under NPS Corporate Model
b. Entities registered under Companies Act.
c. Entities registered under various Co – operative Acts.
d. Central & State Public Sector Enterprises.
e. Registered Partnership firms & Limited Liability Partnerships (LLPs)
f. Any entity incorporated under any act of Parliament or State legislature or by order of Central / State
Government.
g. Proprietorship concern
h. Society / Trust
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e. The Account is opened by the CRA –FC. Branch shall find out the nearest CRA-FC from the list provided
in the NPSCOLL menu in Finacle. A particular branch shall deal with one CRA-FC only.
f. The KYC certified application shall be sent to the selected CRA-FC through courier on the day of receipt
itself.
g. The CRA-FC will open the account and inform the Account number termed PRAN (Permanent
Retirement Account Number) to the POP-SP.
h. PRAN shall be updated by the POP-SP branch in the Finacle through „NPSCOLL‟ menu.
i. The subscriber will receive a Welcome Kit directly from CRA-FC, which will contain further guidance as
to, account details, contact particulars etc. CRA-FC will send T-Pin for accessing the account through
Toll free No 180022080 and I-Pin to access the account through website www.npscra.nsdl.co.in
Online Registration
Go to site www.enps.nsdl.com and select Registration option and go to New Registration and choose
appropriate options.
Option 1 – Registration using Aadhaar
a. You must have an „Aadhaar number‟ (with a mobile number registered with Aadhaar).
b. Your KYC in NPS will be done using Aadhaar through One Time Password (OTP) authentication.
c. OTP for the purpose of authentication will be sent to the mobile number registered with the Aadhaar.
d. Your demographic details and photo will be fetched from Aadhaar database and populated in online form.
e. You need to fill up all the mandatory details online.
f. You would be required to upload your scanned signature (in *.jpeg/*.jpg format having file size between
4kb – 12kb) as part of the registration process.
g. In case, you wish to replace the photo obtained from Aadhaar, you may upload a scanned photograph.
h. You will be routed to a payment gateway for making the payment towards your NPS account from Debit/
Credit card or Internet Banking.
Option 2 – Registration using PAN (KYC verification by Bank)
a) You must have a „Permanent Account Number‟ (PAN).
b) Bank account with the empanelled Bank for KYC verification for subscriber registration through eNPS.
c) Your KYC verification will be done by the Bank selected by you during the registration process.Name
and address provided during registration should match with bank records for KYC verification. If the
detail doesn‟t match, the request is liable for rejection.In case of rejection of KYC by the selected Bank;
applicant is requested to contact the Bank.
d) You need to fill up all the mandatory details online.
e) You need to upload your scanned photograph and signature in *.jpeg/*.jpg format having file size
between 4kb – 12kb.
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f) You will be routed to a payment gateway for making the payment towards your NPS account from
Internet Banking
In addition, NRI subscribers should,
a) Select the Bank Account Status i.e., Non-Repatriable account or Repatriable account
b) Provide the NRE/NRO bank account details and upload scanned copy of passport
c) Select the preferred address for communication i.e., Overseas Address or Permanent Address
(communication at overseas address would entail extra charges)
After Permanent Retirement Account Number (PRAN) is allotted, subscriber can use one of the
following options:
Option 1 – eSign
For Tier I PRANs generated through Aadhaar, you have option to eSign the document by following the
below mentioned steps:
a. Select „eSign‟ option in the eSign / Print & Courier page.
b. OTP for the purpose of authentication will be sent to your mobile number registered with the Aadhaar.
c. After Authentication of Aadhaar, Registration form will be successfully eSigned.
d. Once a document is eSigned, you need not send the physical copy of form to CRA.
e. eSign charge ₹ 5 plus applicable GST.
Option 2 – Print and Courier
a) Select „Print & Courier‟ option in the eSign / Print & Courier page
b) You need to take a printout of the form, paste your photograph (please do not sign across the photograph)
& affix signature.
c) You should sign on the block provided for signature.
d) The photograph should not be stapled or clipped to the form.
e) The form should be sent within 90 days from the date of allotment of PRAN to CRA at the following
address or else the PRAN will be „frozen‟ temporarily.
10.8. Contribution
The subscriber can contribute the amount through cash, local cheque or demand draft at his/her chosen
POP-SP (any branch of Union Bank of India). For cash transactions exceeding ` 50000/- subscriber needs
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to submit the copy of the PAN card as per the Anti-Money laundering (AML) rules. No outstation
cheques are accepted
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37 46% 28% 26%
38,39,---- - - -
55 and Above 10% 10% 80%
Introduction of Life Cycle LC50/ LC25/ LC 75.
LC 75- It is the Life cycle fund where the Cap to Equity investments is 75% of the total asset
(Aggressive)
LC 25- It is the Life cycle fund where the Cap to Equity investments is 25% of the total asset
(Conservative)
LC 50- It is the Life cycle fund where the Cap to Equity investments is 50% of the total asset (Normal)
10.12. Nomination
Nomination is available. No charges for registering nominee name at the time of registering for PRAN.
Subsequent request for nomination will be considered as a service request and will be charged at the rate
of ` 20/- + applicable taxes. Nominee cannot continue the account after the death of the subscriber.
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If a subscriber desires to contribute beyond the age of 65 or superannuation (retirement), he must
intimate his intention in writing to Central Record-keeping agency (CRA, NSDL) at least 15 days
before the attainment of 65 years of age or the age of superannuation.
Can defer the withdrawal of eligible lump sum amount till the age of 70 years and withdraw the
same in 10 annual installments.
Annuity purchase can also be deferred for maximum period of 3 years at the time of exit.
b. Exit before age 65 (Allowed to subscriber who have been in NPS for at least 10 years) –The subscriber
has to compulsorily annuitize 80% of the accumulated pension wealth and the remaining 20% can be
withdrawn as lump sum. If Corpus <1.00Lac, complete withdrawal permitted.
c. In case of death of the subscriber – Entire accumulated pension fund will be paid to the nominee/s or legal
heirs, as per norms. No family pension under the scheme.
10.15. Withdrawal from Tier II Account – Investment in Tier II account can be withdrawn at any time.
The following are the Fund Managers for the scheme at present:
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a) Life insurance Corporation of India
b) SBI Life Insurance Co. Ltd.
c) ICICI Prudential Life Insurance Co. Ltd.
d) Star Union Dai-ichi Life Insurance Co. Ltd.
e) HDFC Life Insurance Co. Ltd.
10.18. Charges
NPS offers Indian citizens a low cost option for planning their retirement. NPS perhaps, is the world‟s
lowest cost retirement savings product. Following are the charges under NPS:
Initial Contribution 0.25% of the contribution Min: Rs. 20/- & Max: To be Collected
All Subsequent Transaction Rs. 25,000/- Upfront
All Non- Financial
Transaction Rs. 20/-
POP
Persistency Through
Rs. 50/- per annum ( only for NPS – All Citizen) cancellation of
units
e – NPS ( for subsequent 0.10% of the contribution Min Rs. 10/- & Max
contribution) Upfront from
Rs. 10,000/- (Only for NPS – All Citizen and Tier –
subscriber
II Accounts)
Two more Life Cycle Funds – Aggressive (Equity upto 75%) & Conservative (Equity upto 25%) have
been introduced.
**Pension Fund can be changed once in a financial year whereas Investment Option can be changed twice
in a financial year.
Service tax and other levies, as applicable, will be levied as per the existing tax laws. There are no
additional CRA charges for the maintenance of Tier –II account. The fee structure may change from time
to time as may be decided by PFRDA.
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c. Printed statement available
a. Receive application from subscriber duly filled in, along with the initial subscription.
b. Collect all documents relating to Know Your Customer (KYC) norms prescribed by the PFRDA and
certify the same.
c. Enter the details in Finacle through “NPSCOLL” menu.
d. Furnish the system generated receipt to the subscriber.
e. Select the nearest Central Recordkeeping Agency – Facilitation Centre (CRA-FC) from the list available
in report option under NPSCOLL menu, and send the application and the certified KYC documents to
them by courier on the same day.
f. CRA-FC will open the Account and issue the Permanent Retirement Account Number (PRAN)
g. PRAN will be intimated to the subscriber along with a welcome Kit. The PRAN will also be sent to the
concerned POP-SP. POP-SP will have to update the PRAN in the Finacle through NPSCOLL menu.
h. POP-SP will provide subsequent services & accept further subscriptions.
i. Accept various requests from subscriber.
j. Enter the details in finacle using NPSCOLL menu. Issue the system generated Receipt
k. Send a scanned copy of request related documents to POP (MSM branch) to mail id
gbcell@unionbankofindia.com.This can be sent over fax also (022- 22676685)
30
11) Department of Ministries Account (DMA)
11.1. Ministry of Labour & Employment
Our Bank is accredited Banker of this Ministry. Our Shram Shakti Bhawan Branch, New Delhi is a
Nodal Branch for the aforesaid Ministry.
All Payments/ Receipts on behalf of the Ministry are made by various link branches (at present 35
branches) across the country.
These branches send all the instruments / challan copy along with scroll, in respect of all payment/
receipts made by them, to Nodal Branch (Shram Shakti Bhawan br) at the end of the day and seek
reimbursement.
Nodal Branch (Shram Shakti Bhawan br), in turn, gets reimbursement from the Ministry/ RBI.
However, electronic remittances based on online instructions received from the Ministry are executed by
e-Focal Point branch, New Delhi and they, in turn, seek reimbursement from RBI/ Ministry against the
payments made by them.
31
b. Under the scheme the Govt. has target to enhance the skill of One million skilled and Unskilled
Labourers. They would be trained and their certification can be done by the approved Vocational Training
Providers (VTPs).
c. Ministry has developed demand driven short term training courses based on Modular Employable Skill.
d. In the framework for the skill development of the school leavers and dropouts and existing workers
especially in the informal sector in close consultation with Industry, micro enterprises in the informal
sector, State Govt.
e. As per the scheme, a society at State level is to be formed.
f. The VTPs are registered under the society which runs the Skill development courses.
g. The nodal officers at State level to be approached are Principal Secretary/ Secretary / Commissioner/
Director for the Society account.
h. The Principal / Deputy Director/ Asst. Director are the nodal officer to be approached for opening the
account of VTPs.
11.1.3. National Child Labour Project
a. The main object of this scheme is elimination of child labour & setting up of special
schools/rehabilitation centers for providing non-formal education/ vocational training/supplementary
nutrition to children withdrawn from employment.
b. The Ministry sanctions grants across 250 districts in 21 states.
c. The budgetary allocation under the scheme is ` Rs.150 Crore per annum. 102 accounts have been
mobilized under NCLP.
d. The Comfort Letter has been issued by Ministry of Labor to all concerned Districts for opening of
account under the said Scheme.
e. The local District Collector is the nodal officer for opening the accounts of National Child Labour
Project.
11.1.4. Employees’ Provident Fund Organisation (EPFO)
a. The organization is responsible for administration of the Employee Provident fund under Ministry of
Labour & Employment.
b. The scheme for provident fund, family pension and deposit linked insurance are implemented by the
Organization for the benefit of workers covered under the scheme.
c. Organization is also responsible for the administration of EPFO scheme. Three scheme are currently run
by the EPFO
Employee Provident Fund Scheme
Employee Deposit Linked Insurance Scheme
Employee Pension Scheme
32
11.2. Ministry of Science & Technology
a. Our Bank is accredited Banker of this Ministry. Our SDA Branch, New Delhi is Nodal Branch for the
aforesaid the Ministry.
b. All Payments/ Receipts on behalf of the Ministry are made by various link branches across the country.
c. These branches send all the instruments / challan copy along with scroll, in respect of all payment/
receipts made by them, to Nodal Branch (SDA br) at the end of the day and seek reimbursement.
d. Nodal Branch (SDA branch), in turn, gets reimbursement from the Ministry/ RBI.
e. However, electronic remittances based on online instructions received from the Ministry are executed by
e-Focal Point branch, New Delhi and they, in turn, seek reimbursement from RBI/ Ministry against the
payments made by them.
f. Ministry of Science & Technology has three departments- Department of Science & Technology,
Department of Scientific and Industrial Research and Department of Biotechnology.
11.2.1. Department of Science & Technology
Department sanctions and remits funds/grants electronically to various agencies/ beneficiaries engaged in
the project/research Work. Remittances are normally post funded by debiting our Suspense Account,
which are reimbursed later.
11.2.4. BIO-TECH
a. The Dept. of Biotechnology – under Ministry of Science & Technology – The Department is engaged in
development of modern biology, biotechnology, R&D projects and other areas of development are
agriculture, healthcare, research in plants, genetic disorder & food bio-technology etc. Grants are also
provided for research work under various projects throughout India. The funds/grants are remitted
electronically to various agencies/ beneficiaries engaged in the project/research Work.
b. There is a lot of scope for garnering business by tapping accounts of agencies engaged in the projects.
c. The Ministry provides various grants for Research Work on various projects to more than 600
Educational institutions throughout India.
d. The annual budget of the Ministry is approx. ` Rs.2000 Crore under various projects.
33
e. Our branches have opportunity to open accounts of agencies/beneficiaries engaged in the
Project/Research Work and accounts of staff of Branches/Offices of Ministry throughout India and can
also cross sell other banking products.
b. Fund Flow: The Ministry of Statistics releases the funds twice a year on the basis of financial progress of
the works under implementation and further requirement of funds for work. First installment of ` 2.50 Cr
is released and sent to Dist Collector / Magistrate after the vote on account budget is passed. Distt
Collector sends the monthly progress report, on spent balance report, fund utilization & audit certificate to
Ministry of Statistics & Programme Implementation on regular basis. When the balance comes to less
than ` Rs.50 lac, the second installment of ` Rs. 2.50 crore is released on the basis of above mentioned
reports & certificates.
c. Under this Scheme, account is opened in the name of Commissioner (in case of Urban Local bodies like
Corporation) / District Collector / Magistrate/ Dy Commissioner (in case of all districts).
d. As an Accredited Banker to the Ministry, remittance to all MPLADS accounts across the country is being
done by e-Focal Point Branch, New Delhi by way of electronic transfer based on the instructions received
from the Ministry.
i. Branches may approach the District Administration, concerned Lok Sabha/ Rajya Sabha MPs for
opening of their MPLAD accounts with our Bank. Accounts under the scheme are opened in the
34
name of Commissioner (in case of Urban Local bodies like Municipal Corporation) / District
Collector / Magistrate/ Dy Commissioner (in case of all districts).
ii. Immediately after opening the account, the concerned branch needs to ensure that the account
number is duly informed by District Administration to the Ministry with relevant documents like
CPSMS Registration form with Bank account details and Choice of Nodal Districts by the
concerned MPs.
35
a. National Afforestation & Eco-Development Board is a developmental agency under Ministry of
Environment & Forest. The Main Account is with our Sunder Nagar Branch, New Delhi. The sanctions
by the Deptt are provided to various States & their agencies through our Branch.
b. Accounts of agencies/staff of Board & extending them other banking products. The Field Functionaries at
Ros/Branch are advised to contact the Board‟s State Offices and have the detailed information of the
agencies to which the funds/sanctions are given. Further they are advised to open accounts of
agencies/staff of Board & extending them the other banking products.
11.4.3. Compensatory Afforestation Management & Planning Authority (CAMPA)
a. Under this scheme, Adhoc-CAMPA receives compensatory funds from various agencies/ bodies/
institutions in lieu of use of forest area for non-forestry use under various projects approved by GOI e.g.
irrigation, mines, railways & roads etc. Union Bank of India has integrated with CAMPA for Electronic
collection of funds through NEFT/RTGS and Challans. The money collected in turn is remitted to States
for implementation of Green India Programme & Afforestation, development/modernization of forests.
b. We can peruse for having accounts of their offices & their Staff Accounts at different places. Cross
selling, of other Banking Products.
c. The Field Functionaries at Ros/Branch are advised to approach the Forest Conservator Officer/Principal
Chief Conservator of their State and other agencies to remit the collected funds to dedicated account
maintained with our Sunder Nagar Branch (No.344902010105405, ADHOC CAMPA), by giving
reference of letter given by CAMPA.
They are also advised to open their local account with our nearest Union Bank Branch for facilitating
remittance of Collected Funds to Dedicated Account with our Sunder Nagar Branch as well as for getting
funds from Central Ministry for development expenses.
36
12) Pension Payments
12.1. Introduction:-
The Pension Savings account is specifically, designed for Pensioner‟s keeping in mind the fact that
banking requirements of a pensioner are totally different and requires special attention.
All of the below individuals are eligible to open a Pension Savings Account with Union Bank of India.
a. All employees of central government and civil ministries who are covered under the Central Government
Civil Pension Scheme operated by Central Pension Accounting Office (CPAO) , Department of
Expenditure and Ministry of Finance.
b. Defence Employees.
c. Railway Employees.
d. Telecom Employees.
e. State Government employees.
The Pension Savings Accounts can be Single or Joint Bank Accounts (with Spouse).
12.2. Authority
a. Civil Pension Payment Orders are issued by Central Pension Accounting Office, New Delhi.
b. PCDA, Allahabad, CDA Navy, Mumbai and CDA Air force Delhi issues the Pension Payment Orders for
Army Naval and Air Force respectively.
c. PPOs are issued by Postal authorities, the respective Postal Regional Offices
d. PPOs are issued by Railway authorities of respective Zonal Offices.
e. Respective State Authority issue the Pension Payment Orders for State Pension Payment.
f. PPOs are issued by respective CCA Telecom authorities.
12.3. Benefits:
12.4. Process:
37
a. Before retirement, the employee has to open account with any branch of Union Bank of India and has to
provide the account number to the Department from which he/she retires.
b. While opening account, employee has to comply with the KYC norms like PAN, Aadhaar Card, Mobile
number etc.
c. He/she has to fill up the account details in the pension papers.
d. Department prepare Pension Payment Orders (PPO)where all details of the pensioners including the
Account Details, PAN number, Aadhaar number are incorporated.
e. The PPO is sent to the Centralized Pension Processing Cell (CPPC), Mumbai except in case of Railway
where it is send to the respective Nodal Branch.
f. Pensioners have to fulfill the initial formalities like submitting undertaking, Life Certificate, Non –
Employment Certificate and Non- marriage Certificate in case of family pension.
g. All PPOs received up to 25th of the month are processed in the same month while PPOs received on and
after 26 will be paid in the next month.
h. Pension will be credited in the last 4 working days of the month.
The pensioner is required to submit his/ her life certificate physically to any branch of Union Bank of
India or digitally through https://jeevanpramaan.gov.in/ to enable the Bank to pay pension continuously.
38
10) 7.75% BOND
The Government of India has issue 7.75% Savings (Taxable) Bonds, 2018 with effect from January 10,
2018 in terms of GoI notification F.No.4 (28) – W&M/2017 dated January 03, 2018. The salient features
of the Bond are detailed below.
13.3. Tax Treatment: Interest on the Bonds will be taxable under the Income Tax Act, 1961 as applicable
according to the relevant tax status of the Bond holders.
b. The Bonds will be issued for a minimum amount of ` 1,000 (face value) and in multiples thereof.
Accordingly, the issue price will be ` 1,000 for every `1,000 (Nominal) face value.
13.5. Subscription
a. Subscription to the Bonds will be in the form of Cash/ Drafts/ Cheques or any electronic mode acceptable
to the receiving office.
b. Cheques or drafts should be drawn in favour of the bank (Receiving Office), specified in paragraph 13.9
below and payable at the place where the applications are tendered.
39
The Bonds will be issued, in demat form and credited to the Bond Ledger Account (BLA) of the
investor/s on the date of tender of cash or the date of realization of draft/ cheque.
13.7. Form
The Bonds will be issued only in the demat form and held at the credit of the holder in an account called
Bonds Ledger Account (BLA), opened with the receiving bank.
a. The Bonds issued to the credit of BLA of an investors will be held by any number of branches of the
banks and SHCIL, as uthorized by Reserve Bank of India, as specified in paragraph 13.9 below.
b. A Certificate of Holding will be issued to the holder/s of Bonds held to the credit in BLA (in Form TBX
or Form TBY as applicable).
13.8. Application:
a. Applications for the Bonds, either in physical form or electronic form, may be made in Form A or in any
other form as near as thereto stating clearly the amount, name and full address of the applicant/s.
b. Applications should be accompanied by the necessary payment in the form of cash/ drafts/ cheques /
electronic credit as indicated in paragraph 13.5 above.
c. Applicants who have obtained exemption from Income Tax under the relevant provisions of the Income
Tax Act, 1961, shall make a declaration to that effect in the application (in Form A) and submit a true
copy of the certificate obtained from Income Tax Authorities.
40
6 GUJARAT Alkapuri Branch, Baroda Hotel Savshanti Compound, Opp.
Circuit House,R C Dutta Road
Alkapuri Vadodara-390007,
7 UTTAR PRADESH Kanpur (Main) Branch 24/53, Birhana Road, Kanpur,,Dist.
Kanpur, Pincode: 208001
8 KARNATAKA Bangalore – Gandhinagar Branch 14,Sevakshetra, 1st Main
Road,Gandhinagar, Bangalore,
Pincode: 560009
9 KERALA Ernakulam (Main) Branch Union Bank Bhavan, Ground Floor,
P.B. No. 3661,,M.G. Road,
Ernakulam-Cochin,
Pincode: 682035
10 GOA Margoa Branch Salgaonkar Building, Rua Luis De
Miranda,,Margao, Salcete, Dist.
South Goa, Pincode: 403601
11 RAJASTHAN Bapu Nagar , Jaipur SB-57,RIDHI TOWER ,OPP. SMS
Stadium,Tonk Road, Bapu
Nagar,,Dist. Jaipur,
Pincode: 302015
13.10. Nomination:
a. A sole holder or all the joint holders (investors) of a Bond, being individual/s, may nominate in Form B
or as near thereto as may be, one or more persons who in the event of death of the sole holder/all the joint
holders, as the case may be, would be entitled to the Bonds and to the payment due thereon, provided that
the person or each of the persons nominated is himself/herself is competent to hold the Bond.
b. Where the nomination has been made in favour of two or more nominees and either or any of them dies
before such payment becomes due, the title to the Bonds shall vest in the surviving nominee or nominees
and the amount being due thereon shall be paid accordingly.
c. In the event of the nominee or nominees predeceasing the holder, the holder may make a fresh
nomination.
e. No nomination shall be made in respect of the Bonds issued in the name of a minor.
f. A nomination made by a holder of a Bond can be changed by a fresh nomination in Form B, or as near
there to as may be, or may be cancelled by giving notice in writing to the Receiving Office in Form C.
g. Every nomination and every cancellation or variation shall be registered at the Receiving Office where
the Bond is issued and shall be effective from the date of such registration.
h. If the nominee is a minor, the holder of Bonds may appoint any person to receive the Bonds/ amount due
in the event of his / her / their death during the period the nominee is a minor.
13.11. Transferability:
41
The Bonds held to the credit of Bonds Ledger Account of an investor shall not be transferable.
13.12. Interest:
b. The Bonds will be issued in „Cumulative‟ or „Non-cumulative‟ form, at the option of investor and will
bear interest at the rate of 7.75% per annum.
c. Interest on non-cumulative Bonds will be payable at half-yearly intervals from the date of issue in terms
of paragraph 13.6 above and interest on cumulative Bonds will be compounded with half-yearly rests and
will be payable on maturity along with the principal.
d. In the latter case, the maturity value of the Bonds shall be ` 1,703.00 (being principal and interest) for
every ` 1,000/-(Nominal).
e. Interest to the holders opting for non-cumulative Bonds will be paid from date of issue in terms of
paragraph 13.6 above up to 31st July / 31st January as the case may be and thereafter half-yearly for period
ending 31st July and 31st January on 1st August and 1st February.
f. Interest on Bonds held to the credit of Bonds Ledger Account of an investor will be paid, electronically
by credit to bank account of the holder as per the option exercised by the investor/ holder.
a. Tax will be deducted at source while making payment of interest on the Non-Cumulative Bonds from
time to time and credited to Government Account.
b. Tax on the interest portion of the maturity value will be deducted at source at the time of payment of the
maturity proceeds on the Cumulative Bonds and credited to Government Account.
Provided that tax will not be deducted while making payment of interest/ maturity proceeds, as the case
may be, to individual/s who have made a declaration in the application form that they have obtained
exemption from tax under the relevant provisions of the Income Tax Act, 1961 and have submitted a true
copy of the certificate obtained from Income Tax Authorities.
The Bonds shall not be tradable in the secondary market and shall not be eligible as collateral for availing
loans from banks, financial Institutions and Non-Banking Financial Companies.
13.15. Repayment
a. The Bonds shall be repayable on the expiration of 7 years from the date of issue.
b. Premature encashment in respect of the Bonds shall be allowed for individual investors in the age group
of 60 years and above, subject to submission of document relating to date of birth of the investor in
support of age to the satisfaction of the issuing bank, after minimum lock in period from the date of issue
as indicated below:
42
i. Lock in period for investors in the age bracket of 60 to 70 years shall be 6 years from the date of
issue.
ii. Lock in period for investors in the age bracket of 70 to 80 years shall be 5 years from the date of
issue.
iii. Lock in period for investors in the age of 80 years and above shall be 4 years from the date of
issue.
c. In case of joint holders or more than two holders of the Bond, the above lock in period will be applicable
even if any one of the holders fulfills the above conditions of eligibility.
d. After aforesaid minimum lock in period from the date of issue an eligible investor can surrender the
bonds at any time after the 12th, 10th and 8th half year corresponding to the respective lock in period but
redemption payment will be made on the following interest payment due date. Thus, the effective date of
premature encashment for eligible investors will be 1st August and 1st February every year. However, 50%
of interest due and payable for the last six months of the holding period will be recovered in such cases,
both in respect of Cumulative and Non-cumulative bonds.
13.16. Brokerage:
Brokerage at the rate of 0.5% of the amount mobilized will be paid to the brokers, registered with our
Receiving Offices, as listed above in 13.9, on the applications tendered by them and bearing their stamp,
on behalf of their clients.
43
10) Commission on Government Business
44
All Citizen)
e – NPS ( for subsequent 0.10% of the contribution Min Rs.
contribution) 10/- & Max Rs. 10,000/- (Only for
NPS – All Citizen and Tier – II
Accounts)
4. DMA
Rs 50/- 5.5 paise per Rs100/-
15) Account Labeling of Government Accounts
There are various Govt. sponsored schemes announced by Govt. of India for development of
different sectors. Huge amount of funds are allocated at all levels viz.
State/districts/Panchayat level, particularly under CASA.
Separate scheme wise label have been created in Finacle for monitoring the fund flow in the
Govt. schematic accounts and generation of necessary MIS.
45
20. NVS Salary Accounts NVS
21. IGNOU Students account IGNUSTU
22. CAMPA accounts ( State / DFO / Range forest ) CAMPA
23. Backward Region Grant Funds BRGF
46
19 142 17.07.2012 GBD Master circular on collection of direct
taxes
20 143 17.07.2012 GBD Master Circular on Agency commission
21 144 17.07.2012 GBD Master Circular on disbursement of pension
by agency banks
22 145 28.07.2012 GBD Master Circular on appointment & delisting
of brokers and payment of brokerage on
relief/savings bonds.
23 146 30.07.2012 GBD Procedure for obtaining duplicate PPO
24 147 01.08.2012 GBD Recommendation of the committee on
customer service ( Prabhakar Rao
committee )
25 150 15.09.2012 GBD Revision of interest in SCSS 2004 scheme.
26 152 10.10.2012 GBD E Payment of custom duty mandatory wef
17.09.2012
27 153 24.10.2012 GBD Disbursement of Railway Pension
28 155 2.10.2012 GBD Authorization of branches for direct tax
collection.
29 157 30.10.2012 GBD Submission of Life Certificate & additional
particulars
30 158 31.10.2012 GBD Submission of Life Certificate
31 160 16.11.2012 GBD Procedure for entry of life certificate in
GBM Module
32 161 11.12.2012 GBD Revised format for claiming agency
commission
33 164 03.01.2013 GBD Passbook printing facility for PPF accounts
( date mentioned in circular is 03.01.2012
34 165 12.01.2013 GBD Fixation of enhanced rate of family pension
for pre 1006 family pensioners
35 166 12.01.2013 GBD Continuation of family pension to the
spouse
36 170 08.02.2013 GBD Pension payment – Manual of operation for
the branches
37 171 15.02.2013 GBD Commencement of family pension and
procedure thereof
38 173 01.03.2013 GBD Transfer of pension from branch to branch
39 175 14.03.2013 GBD TDS on pension payments
40 177 15.03.2013 GBD Grant of dual family pension
41 179 26.03.2013 GBD Expansion and realignment of Zonal
accounting offices of CBDT
42 181 14.05.2013 GBD Opening of pension SB accounts
43 185 13.06.2013 GBD New Pension System
44 189 21.06.2013 GBD Family pension in case of missing defence
family pensioner
45 193 08.07.2013 GBD RBI master circular on nomination facility
on Govt Bonds
46 194 09.07.2013 GBD RBI Master Circular on Govt Business
47 195 13.07.2013 GBD Revision in Int rates in PPF & SCSS 2004
schemes
47
48 200 23.08.2013 GBD Collection of TDS payable to CBDT on sale
of property
49 201 05.09.2013 GBD 8% saving bonds 2003 – Premature
encashment
50 208 28.12.2013 GBD Revision in int. rate for Special Deposit
Scheme 1975
51 271 10.02.2014 GBD Disbursement of freedom fighter pensions
52 272 25.02.2014 GBD Issuance of Pension slip to pensioners every
month
53 273 06.03.2014 GBD Proforma of life certificate to be
submitted by central civil pensioners
54 275 13.03.2014 GBD Updation of PAN no in GBM module
55 276 24.03.2014 GBD TDS on pension credits
56 280 23.04.2014 GBD Quantum of pension to two widows of a
freedom fighter pensioner
57 283 27.05.2014 GBD Timeline for grievance redressal relating to
disbursement of pension
58 285 27.05.2014 GBD Action points pertaining to our bank
discussed in 4th HLM on banking transaction
of Govt.
59 288 18.06.2014 GBD Grievance of pensioners and their
associations on services provided by the
bank.
60 289 19.06.2014 GBD TDS Exemption on Pensions credited to the
disabled officers of the Indian armed
forces
61 290 10.07.2014 CPPC TDS on pension credits during 201-15
62 293 12.08.2014 CPPC Disbursement of pension through CPPC –
Handling of PPOs and related issues
63 296 23.08.2014 GBD PPF scheme 1968 – Amendment in rules
64 1656 20.12.2012 DIT User document for PPF in GBM Module
65 7408 20.03.2014 DIT Clearing option in CBDT & CBEC with
cheque tendered date in GBM.
66 8939 18.04.2011 GBD NPS by PFRDA – Extension to all branches
67 9191 27.01.2011 PBOD E payment of customs duty through Union
Bank Of India
68 9198 04.02.2012 GBD NPS by PFRDA – Corporate accounts
69 9219 03.03.2012 GBD Damodaran committee recommendations
on service to pensioners
70 9794 03.01.2014 GBD NPS-Lite under NPS by PFRDA
71 11562 12.12.2011 GBD PPF scheme 1968 – Amendment in rules
72 11563 14.12.2011 GBD Resumption/restoration of pension on
reappearance of the pensioner
73 11569 20.12.2011 GBD Amendment to SCSS-2004 scheme
74 11574 22.12.2011 GBD Compensation structure for delay in
payment to investors in relief/savings
bonds
75 11575 22.12.2011 GBD NPS - Freezing & deactivation process
76 11582 04.01.2012 GBD Payment of additional pension on account
48
of 80 years – Proof of age
77 12488 19.08.2014 GBD Promotion of NPS
78 00331 29.08.2016 GBD Jeevan Pramaan centre at Branches
79 30515 01.01.2015 GBD Collection of Direct Taxes
80 00334 22.12.2015 GBD NPS-Two level grievances redressal policy
81 42516 27.01.2016 GBD Authorization of 659 branches under Govt
Business
82 42816 27.01.2016 GBD Reporting of SCSS Account
83 11718 03.02.2017 GBD Guidelines on Senior Citizen Saving Scheme
84 4961 06.06.2016 DIT Exempt From TDS on Senior Citizen Saving
Scheme.
85 4726 29.06.2016 DIT Interest Payment in Senior Citizen Saving
Scheme.
86 5004 20.10.2016 DIT Inter Sol Deposit in PPF & Sukanya Saving
Account.
87 5046 08.11.2016 DIT Implementation of Standing Instruction in
PPF & Sukanya Samridhi accounts.
87 11417 03.01.2017 GBD PPF Online account opening
88 12817 10.07.2017 GBD Account Labeling of Government Accounts
49