(B) Immediate Credit of outstation/local cheques to deposit accounts of individuals:
I) Outstation cheques

Branches will, of their own, afford immediate credit of outstation cheques upto and inclusive of Rs.20,000/- tendered for collection by the customers for satisfactorily conducted accounts on the following conditions. However, this ceiling will not be applicable for credits between two core banking branches.

a) For the purpose of this policy, a satisfactorily conducted account shall be the one:

i) Opened at least six months earlier and complying with KYC norms.
ii) Account is neither dormant nor inoperative.
iii) Where bank has not noticed any irregular dealings /suspicious transactions in the last 6 months.
iv) Where the bank has not experienced any difficulty in recovery of any amount advanced in the past including cheques returned after giving credit.
v) Where no adverse features attached to the account/ account holders has been brought to the notice of the bank.

b) The facility will be available to all individual deposit account holders without making a distinction about their accounts i.e. Savings Bank/Current Account etc. It will be available at all branches/extension counters.

c) Normal collection and out of pocket charges are to be recovered for outstation cheques. However, no "exchange" will be charged.

d) In case of outstation cheques, the facility will be restricted to one or more cheques for aggregate amount not exceeding Rs. 20,000/- at a time ensuring inter-alia that the liability on account of outstanding of cheques purchased does not exceed Rs. 20,000/- at any time.

II) Local Cheques
a) The customers' account would be credited in respect of local cheques by 2nd working day from the date of acceptance of the cheques at the counters / deposited in drop boxes upto 1.30 p.m.* for same day local clearing and by 3rd working day at branches if deposited at counters/ drop boxes after 1.30 p.m. for next day clearing. * Cut-off time for local branch may vary and will be displayed on the counter and Drop Box.

b) Where High Value Clearing (same day credit) facility is available the instruments accepted at the counters / deposited in drop boxes upto 11.15 a.m.* will be included for same day clearing and credit will also be afforded on the same day. * Cut-off time for local branch may vary and will be displayed on the counter and Drop Box.

c) The customer will be allowed to withdraw the relative proceeds on next working day, after crediting the proceeds and reckoning the cheque return timeline (say 2.00 p.m.).

d) Negotiation of local cheques/instruments will not be encouraged. However, Branch Manager may use their discretion in exceptional circumstances (business exigencies) to permit drawls against uncleared effects upto Rs.20,000/- for deposit accounts on recovery of collection charges of Rs.100/- per instrument.

e) No charges will be levied for local collection of cheques/instruments which are collected through a normal clearing process except for item II) (d) above.

f) Normal collection charges will be levied for local cheques not collected through clearing, irrespective of the amount of cheques.

2. If a cheque/instrument for which immediate credit has been afforded is returned unpaid, Bank shall recover interest at clean overdraft rate for the period Bank remained out of funds and also cheque return charges subject to the following:

a) Bank will charge interest from the date of credit of proceeds of the cheque in the account till reimbursement of money to the bank

b) Where the cheque is credited to a Savings Bank account, such credits will not be reckoned for interest purposes if the cheque is returned.

c) If proceeds are credited in an overdraft/loan account, interest would be recovered at applicable rate/clean overdraft rate, whichever is higher, on the amount of returned cheque/instrument.

(C) Time frame for collection of local/outstation instruments:
I) The time frame for collection of cheques/ instruments payable in India will be as under:

		Our Branches	Other Banks' Branches
a)	Collections between Metropolitan Centers/ Major 'A' Class Cities (Mumbai, Chennai, Kolkata, New Delhi, Ahmedabad, Bangalore & Hyderabad)	6 days	7 days
b)	Collections between places at (a) above and State Capitals (other than North Eastern States & Sikkim) and Area I Cities i.e. Pune, Nagpur, Kanpur, Surat, Vishakapatnam, Vadodara, Kochi, Indore, Ludhiana, Coimbatore, Agra, Madurai and Varanasi	8 days	10 days
c)	Collections between all other Centers	10 days	14 days

II) The timeframe mentioned above are only outer limits and once the instruments are realized, the proceeds should be credited to the customer's account immediately.

III) Considering technology upgradation and faster communications, delay beyond 45 days in collection of cheques / instruments would be treated as abnormal delay.

IV) There will not be any time limit for collection of cheques / instruments payable in foreign countries as Bank will not be in a position to ensure timely collection from overseas banks as practices for collection vary from country to country. However, Bank will pursue for expeditious realization of cheques/instruments sent for collection through effective follow up.