Functions And Duties - Corporate Governance
Functions and Duties
Suo Motu Disclosures in Pursuance of Section 4 (1) (b) of the Right to Information Act, 2005
Section 4 (1) (b) (i): Functions and Duties
Section 4 (1) (b) (ii): POWERS AND DUTIES OF ITS OFFICERS AND EMPLOYEES
All the officers have certain financial powers and administrative powers depending upon their positions. The delegation of financial powers of various grades of officials is decided by the Central Board which are revised from time to time, depending upon the organization's requirement and also Government / RBI guidelines. The concerned sanctioning authority takes a decision to sanction a loan or otherwise on merits of each proposal.
Section 4 (1) (b) (iii): THE PROCEDURE FOLLOWED IN THE DECISION MAKING PROCESS, INCLUDING CHANNELS OF SUPERVISION AND ACCOUNTABILITY IN STATE BANK OF INDIA
There is a well defined system in the Bank regarding the decision making process. Financial decisions are taken at various levels by different officials depending upon their positions and also through committee approach. Centralized credit processing cells are being formed at certain centres for sanction of personal segment loans and loans under SIB segment. Branches will source the applications and forward them to the respective credit processing cells, for their consideration. Further, there is a well defined organisational structure and a clear system of accountability and control system, which also take into account the RBI / CVC guidelines.
Section 4 (1) (b) (iv): THE NORMS SET BY THE STATE BANK OF INDIA FOR THE DISCHARGE OF ITS FUNCTIONS.
The Bank functions with the following core values / norms
- Excellence in customer service
- Profit orientation
- Fairness in all dealing and relation
- Risk taking and innovation
- Transparency and discipline in policies and systems
Regarding the core functions of the Bank i.e. accepting deposits and sanction of loans, the interest rates for deposits / advances and different deposit as well as loan products, are displayed in the Bank's website and also made available at all the Branches.
Regarding sanction of loans, each officer of the Bank will consider loan proposals and take a decision in terms of the scheme of delegation of powers, on the merits of the proposals. All the officers of the Bank are expected to discharge their duties and responsibilities with integrity and due diligence.
Public can also refer to the captions 'Interest rates', 'code of ethics' & 'citizens charter' of the Bank's website for any further information. They can also refer to the following captions of the Bank's website, for detailed information on related products.
- Personal Banking
- Agricultural / Rural
- NRI Services
- Corporate Banking
- Government Agencies
Section 4 (1) (b) (v): THE RULES AND REGULATIONS, INSTRUCTIONS, MANUALS AND RECORDS HELD BY THE BANK/ USED BY ITS EMPLOYEES FOR DISCHARGING ITS FUNCTIONS
There are quite a number of documents like manuals, book of instructions, codified circulars, scheme of delegation of powers, proceedings of the board etc. and also the periodical circulars used by the employees for discharging various functions.
Section 4 (1) (b) (vi): A STATEMENT OF THE CATEGORIES OF DOCUMENTS THAT ARE HELD BY THE BANK OR UNDER ITS CONTROL
These are mainly register of Shareholders/Record of the proceedings of the AGMs, Board Meetings and various Committee meetings, documents executed by customers/borrowers/guarantors, contracts with third parties etc.
Section 4 (1) (b) (vii): THE PARTICULARS OF ANY ARRANGEMENT THAT EXISTS FOR CONSULTATION WITH, OR REPRESENTATION BY, THE MEMBERS OF THE PUBLIC IN RELATION TO THE FORMULATION OF ITS POLICY OR IMPLEMENTATION THEREOF IN SBI.
As per the present arrangement, the Shareholders can raise issues concerning policies and in the Annual General Meetings which can relate to the policy of the Bank
Further, the Banks quarterly results and annual results / reports are published in the bank's website periodically for information of public as well as shareholders which would give an idea about the policies of the bank and implementation thereof. Further, the Central Board the apex management body of the bank is constituted with members who are leaders from different interest groups and professions such as Industrialists, Bankers from Apex Institutions, Chartered Accountants, Economists and Workmen representatives
Public can also refer to the captions financial results / consolidated financial statement / annual report / shareholders information of the Bank's website, for further information.
Section 4 (1) (b) (viii): COMMITTEE & OTHER BODIES CONSISTING OF TWO OR MORE PERSONS…. WHETHER MEETINGS ARE OPEN TO PUBLIC.
- Risk Management Committee
- Credit Risk Management committee
- Asset Liability Management committee
- Operational Risk Management committee
- Audit Committee
- Central Management Committee
- Central as well as Local Boards
Public are not entitled to participate on the above committee meetings and minutes are not accessible to public.
Section 4 (1) (b) (ix): A DIRECTORY OF SBI OFFICERS AND EMPLOYEES
Since the number of employees is quite large and they are subject to transfers, it is not possible for the Bank to publish the list of officers / employees and keep the same updated from time to time. Any person interested in seeking the information about any officer or employee of the Bank can approach the CAPIOs in that behalf.
The list of offices / branches is already available in the website for reference by public.
Public can refer to the caption " Branch Locator" of the Bank's website for information regarding the nearest CAPIO
Section 4 (1) (b) (x): THE MONTHLY REMUNERATION RECEIVED BY EACH OF ITS OFFICERS AND EMPLOYEES, INCLUDING THE SYSTEM OF COMPENSATION AS PROVIDED IN ITS REGULATIONS OF STATE BANK OF INDIA
Public can refer to the caption "Monthly Remuneration received by officers & employees including system of compensation" published in the Bank's website, under the "Right to Information Act
Section 4 (1) (b) (xi): THE BUDGET ALLOCATED TO EACH OF ITS AGENCY, INDICATING THE PARTICULARS OF ALL PLANS PROPOSED EXPENDITURES AND REPORTS ON DISBURSEMENTS MAD
There are no plans and budgets for expenditure of public money and disbursements and the provision is not applicable to SBI.
Section 4 (1) (b) (xii): THE MANNER OF EXECUTION OF SUBSIDY PROGRAMMES, INCLUDING THE AMOUNTS ALLOCATED AND THE DETAILS OF BENEFICIARIES OF SUCH PROGRAMMES.
There are no subsidy programmes or plans for lending activities as a whole, except for targets for priority sector lending. There are different schemes for advances of the Bank and the terms and conditions are already available in the Bank's website.
Section 4 (1) (b) (xiii): PARTICULARS OF RECIPIENTS OF CONCESSIONS PERMITS OR AUTHORIZATIONS GRANTED BY IT.
There are no programmes in the Bank for grant of concessions/ permits/ authorization etc. and there is no material in the Bank relevant to this provision.
Section 4 (1) (b) (xiv): DETAILS IN RESPECT OF THE INFORMATION, AVAILABLE TO OR HELD BY SBI, REDUCED IN AN ELECTRONIC FORM.
All the general information regarding deposits, advances and other services offered by the Bank are already available in the following websites of the Bank-https://www.sbi.co.in & https://bank.sbi.
Public may refer to our above websites regarding necessary information.
Section 4 (1) (b) (xv): THE PARTICULARS OF FACILITIES AVAILABLE TO CITIZENS FOR OBTAINING INFORMATION, INCLUDING THE WORKING HOURS OF A LIBRARY OR READING ROOM, IF MAINTAINED FOR PUBLIC USE IN SBI.
The list of toll free numbers / telephone numbers has already been published on the website. The public can approach the nearest CAPIOs for any further information.
Public can also refer to the caption " customer care" in our Bank's website for getting detailed information regarding helpline / toll free numbers, available in State Bank of India, for public reference.
Section 4 (1) (b) (xvi): THE NAMES, DESIGNATIONS AND OTHER PARTICULARS OF THE PUBLIC INFORMATION OFFICERS.
Public can refer to the caption "Name and designation of the Public Information Officers (PIOs), Assistant Public Information (s) & Appellate Authority"published in the Bank's website, under the "Right to Information Act".
MAKING AN APPLICATION UNDER THE ACT
Public seeking for information should submit the application to the nearest ACPIO (All Branch Managers of SBI branches have been identified as ACPIO) who will forward the information to the concerned CPIO for giving the information or otherwise as permitted under the Act.As per the Act, the information can be furnished only to citizens of India.The application / request for information, should contain inter- alia apart from their citizen status, their contact details such as latest postal address, telephone number, fax number, e-mail address, etc., and in case of third party information, their connection / relationship with the person / entity.
HOW TO SEND THE APPLICATION
i) A request for information under Sec 6(1) of the RIA to be accompanied by an application fee of Rs.10/- by way of cash against proper receipt or by DD or Banker's cheque favouring "State Bank of India" if the applicant is not belonging to the below poverty line category.The application along with the draft / Bankers cheque as above, should be submitted by the public / requestor to the nearest Branch Head (ACPIO) (who will forward to the concerned CPIO) or directly to the respective CPIO.Alternatively the fees of Rs.10/- can be paid in cash at all the branches of SBI for credit to their P&T A/c and receipted counterfoil for the payment be obtained and enclosed to the application.Payment of Rs.10/- is fees prescribed by the Government and will not, by itself make an applicant eligible for such information sought by him / her. Disclosure of information will be subject to scrutiny of the request by CPIO and the relevant provisions of the Act.
ii)If the application is submitted to the ACPIO, the ACPIO would verify the application, enter it in a register maintained for the purpose in the serial order, with the serial number along with the details of the applicant / date of receipt / related CPIO / fees details etc., and give an acknowledgement to the applicant for future reference.
HOW LONG WILL THE BANK TAKE TO PROVIDE INFORMATION
i) The CPIO will take up the application for consideration as required under the Act, only if the application contains proper applicant information as detailed above and the required fees.
ii)If the information requested for is held by and its subject matter is closely connected with the function of another CPIO / Public Authority, the PIO shall transfer within 5 days the request, to that other CPIO / Public Authority and inform the applicant immediately.
iii)The CPIO on receipt of a request shall, within 30 days of receipt of the request, either provide the information on payment of such fee / charges as may be prescribed or reject the request under Section 8 / 9 of the Act.
iv)If the CPIO failsto give a decision on the request within the period specified, he shall be deemed to have refused the request.
ANY FURTHER CHARGES TO GET THE INFORMATION
As per the Right to Information (Regulation of Fees and Cost) Rules, 2005, the public authority(Bank) shall charge:
- Rs.2/- for each page (in A-4 or A-3 size paper) created or copied;
- actual charge or cost price of a copy in larger size paper;
- actual cost or price for samples or models; and
- for inspection of records, no fee for the first hour; and a fee of Rs.5/- for subsequent hour(or fraction thereof thereafter).
Further, to provide information under Section 7(5) of the Right to Information Act 2005, the public authority shall charge:
- Rs.50/- per diskette or floppy; and
- for information provided in printed form at the price fixed for such publication or Rs.2/- per page of photocopy for extracts from the publication.
AT WHAT STAGE DO THE FURTHER CHARGES HAVE TO BE PAID
If the concerned CPIO of the Bank has the information and can provide it to youhe / shewill,within 30 days of receiving the application by the CPIO along with appropriate fees, communicate to the requestor the cost of providing the information as prescribed under Section 7(1) of Right to Information Act.
WHENWILL THE INFORMATION BE GIVEN
The public will get the information, once the concerned CPIO decides to give information and receives the payment of charges prescribed by him / her towards providing the information.
CAN THE CPIO REFUSE TO GIVEINFORMATION
The Right to Information Act, 2005 under Sections 8 and 9 exempts certain categories of information from disclosure, and the following may have relevance to Banks.
- Information, which has been expressly forbidden to be published by any court of law or tribunal or the disclosure of which may constitute contempt of court.
- Information including commercial confidence, trade secrets or intellectual property, the disclosure of which would harm the competitive position of a third party, unless the competent authority is satisfied that larger public interest warrants the disclosure of such information;
- Information available to a person in his fiduciary relationship, unless the competent authority is satisfied that the larger public interest warrants the disclosure of such information;
- Information which would impede the process of investigation or apprehension or prosecution of offenders;
- Information, which relates to personal information the disclosure of which has no relationship to any public activity or interest, or which would cause unwarranted invasion of the privacy of the individual.
The CPIO of the Bank can refuse to part with any information, if he / she feels that such information is falling under any of the above provisions.
WHAT ABOUT RIGHT TO APPEAL
Under the Right to Information Act, 2005 the public have the right to appeal to the Appellate Authority if he / she is not satisfied with the information provided by the concerned CPIO or his / her decision not to provide the information requested.
WHAT IS TO BE DONE BY A CITIZEN IF HE IS NOT SATISFIED WITH THE DECISION OF THE APPELLATE AUTHORITY
Under the Act, if a citizen is not satisfied with the decision of the Appellate Authority within the State Bank of India, he / she can appeal to the Central Information Commissioner notified / appointed by the Central Government in terms of Chapter 3 of the Right to Information Act, 2005.