POLICY ON
(A) Arrangements for collection of cheques / instruments
(B) Immediate credit of local / outstation cheques to deposit accounts of individuals
(C) Time frame for collection of local/outstation instruments
(D) Interest payment for delayed collection
(E) Collection instruments lost in transit

Arrangements for Collection
I)Local Cheques
All cheques and other Negotiable Instruments payable locally would be presented through the clearing system prevailing at the centre. Cheques deposited at branch counters and in collection boxes within the branch premises before the specified cut-off time will be presented for clearing on the same day.
Bank would give credit to the customer account on the same day of clearing settlement.
Withdrawal of amounts so credited would be permitted after reckoning the cheque return schedule of the clearing house.
Wherever applicable, facility of high-value clearing (Rs. 1 lac and above) will be extended to customers (same day credit).
Bank branches situated at centers where no clearing house exists, would present local cheques on drawee banks across the counter and proceeds would be credited, at the earliest, on realization.

II) Outstation Cheques payable in India
Cheques drawn on other banks at outstation centers in India will normally be collected through bank's branches at those centers. Where the bank does not have a branch of its own, the instrument would be directly sent for collection to the drawee bank or collected through a correspondent bank. The bank would also use the National Clearing services offered by Reserve Bank of India at centres where such collection services exist. Cheques drawn on bank's own branches at outstation centers will be collected using the inter-branch arrangements in vogue. Branches which are connected through a centralized processing arrangement and are offering anywhere banking services to its customers will provide same day credit to satisfactorily conducted accounts (defined hereafter in the policy) of its customers in respect of instruments drawn on any of its branches in the CBS network

III) Cheques payable in Foreign Countries
Cheques payable at foreign centres will be collected through our correspondent banks. Cheques drawn on foreign banks at centres where our correspondents do not have direct presence will be sent direct to the drawee bank with instructions to credit proceeds to the respective Nostro Account of the Bank maintained with one of the correspondent banks.