i. Customers can make local payment through Bankers Cheques and remit funds from one centre to another through drafts, telegraphic transfers, electronic funds transfer (RTGS,EFT,ECS etc) at specified service charges (exchange).

ii. Drafts are issued on our branches. They are issued on the branches of Associate Banks at centres where we do not have any branch.

iii. The issue and payment of Bankers cheques and drafts in cash across the counter is subject to Income Tax provisions and RBI guidelines against money laundering activities. Issue of these instruments of Rs. 50,000/- and above is not permitted against cash but only through debit to customers account or against cheques/other instruments tendered by the purchaser.

iv. Bankers cheques / drafts for an amount of Rs.50,000/- and over will not be paid in cash, but only for credit of the payees account or to his banker.

v. Drafts of Rs.50,000/- and above are required to have signatures of two authorised officials. Before taking delivery of the drafts, please verify that the draft is complete in all respects including signature of the official(s) along with their specimen signature numbers at the place provided for.

vi. Bankers Cheques and Drafts are valid for 3 months and can be revalidated by issuing branches on written request of the purchasers. The drafts can be revalidated by the payee(s) if they are identified as the holder in due course. The drafts can be revalidated only once within one year from the date of issue. After one year of the draft, they are to be cancelled at the issuing branch, and a fresh draft obtained after paying the requisite service charges.

vii. In respect of lost drafts, duplicate drafts for amounts above Rs 10000/-(in cases where there is no reason to doubt the bonafides of the applicant) shall be issued by the issuing branches on receipt of confirmation of non payment from the drawee branch and on execution of stamped letter of indemnity with two sureties good for the amount involved.

viii. For issue of duplicate drafts up to Rs.10, 000/- requirement of the relative non-payment certificate from the other branch is waived. For issue of duplicate drafts below Rs.1,000/-, only indemnity letter will be necessary. The customer should inform the issuing branch promptly of loss of demand draft giving full particulars thereof in order to prevent misuse thereof.

ix. The Bank may not insist on production of sureties for issue of duplicate demand drafts for amounts up to Rs 50, 000/- if the applicant/purchaser after complying KYC norms is maintaining a satisfactorily conducted account with the issuing branch for a minimum period of six months as on the date of issue of original draft and he/she is considered good for the amount involved.

x. The bank will issue duplicate demand draft to the customer within 14 days from the date of receipt of request. For delay in issuing duplicate draft beyond the above stipulated period, the banks will pay interest at the rate applicable for fixed deposit of corresponding maturity in order to compensate the customer for such delay.

xi. Where the bank is found to have committed an error in non payment of a draft/remittance issued by it to a holder in due course, the customer will be compensated with interest at SBAR for the number of days the instrument remains unpaid from the date of its first presentment.