Remittance Services

Customers may remit funds form one centre to another centre by Demand Draft or TPO/Telegraphic Transfer (TT), etc., by paying specified charges as per the Bank's rules.

The customers can utilise the facility of Electronic Funds Transfer (EFT) System operated through RBI for transferring funds to and fro Calcutta, Chennai, Delhi and Mumbai upto Rs 5 lacs.

Demand Drafts, telegraphic transfers and travellers cheques for Rs 50,000/- and above will be issued by the banks only by debit to the customer's account or against cheques or other instruments tendered by the purchaser and not against cash payment. Similarly, such payments for Rs 50,000/- and above will be made through banking channels and not in cash. Commission on these instruments is charged as per guidelines issued from time to time.

Issue of Duplicate Demand Draft Without Receipt of Non-Payment Advice

As directed by the RBI, the banks will issue duplicate demand draft upto Rs 5,000/- on the basis of adequate indemnity and without obtaining Non-Payment Advice from the drawee branch.

Time Frame For Issue of Duplicate Draft

As directed by the RBI, the banks will issue duplicate demand draft to the customer within a fortnight from the 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.

Cash Order (i.e.Pay Order, Banker's Cheque)

Cash order is issued for making payment locally.

  • Issue/payment of cash order for Rs 50,000/- and above is to be made only through the bank account.
  • Validity period of cash order is 6 months. This can be revalidated by the issuing branch on written request of the purchaser

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