EXTRA ORDINARY GENERAL MEETING
VENUE: HOTEL ALAKAPURI, CALICUT
TIME: 10.00 A.M
AGENDA: Discussion on Formation of Kerala Circle Units ( Calicut and Ernakulam ) of All India Punjab National Bank Pensioners & Retirees Association (affiliated to AIBOC & AIBPARC)
Overdraft facility in SB account for Pensioners
Please find below the consolidated circular issued by Bank – RMD Circular 57 dated 25.08.2017.
PUNJAB NATIONAL BANK
RETAIL BANKING DIVISION (RESOURCES)
HO: RAJENDRA PLACE, NEW DELHI
TO ALL OFFICES
RBD-RESOURCES: HO CIRCULAR NO. 57/2017
REG: CONSOLIDATED CIRCULAR: PNB PENSION SAVINGS ACCOUNT
The detailed guidelines in respect of PNB Pension Savings Account were last
circulated vide RMD Circular No. 48 dated 05.10.2016 & RBD-Resources Circular No.
22 dated 25.07.2017.
We are reiterating consolidated operational guidelines for field functionaries
superseding all previous circulars in this regard.
2. To attract more pensioners particularly future pensioners, a separate scheme
has been formulated for the pensioners & to take care of emergency exigencies of
the pensioners and provide overdraft facility to those Pensioners who are drawing
their pension through our branches.
3. The scheme will have the following features/benefits:
Particulars Proposed freebies/concessions
1 Eligibility Pensioner/Prospective pensioner
including all the employees retired
from our bank who has given
mandate for credit of his pension
in the account. Account will be
opened preferably jointly with
2 Joint Account Only with spouse
3 Minimum Quarterly
Average Balance (QAB)
4 Initial Deposit Zero
5 Charges for not
6 Free Cheque leaves 20 cheque leaves per half year
7 NEFT charges Free
In supersession of
RMD Cir No. 48 dated 05.10.2016
RBD – Resources Circular No. 22 dated 25.07.2017
RBD (Deposit) Circular No. 34 dated 12.11.2009
8 Issue of Demand Drafts Free one draft per month- up
9 Collection of pension
10 Issuance of Rupay
11 SMS alert charges Free
12 Over draft facility* Rs. 1,00,000/- or the 4 times the
monthly pension (Net of arrear, if
any for this purpose, the
incumbent to check the pension
credit for the last two months)
whichever is lower.
3.1 *Terms and conditions for Overdraft facility
Overdraft facilities will be given to those pensioners whose pension is being
processed by our bank through CPPC. (At present Central Govt. pension of
Defence, Railway. Central Civil, Telecom, Post and some State Govt. pension
are being processed through CPPC) & to all employees retired from our bank and
drawing pension/family pension being processed by PF & Pension Department of
Account should be joint account with the spouse.
Maximum age of pensioner should be 70 years at the time of
sanction of overdraft.
Request for overdraft is to be signed by the both joint account holders.
OD facility at interest rates applicable to Pension Overdraft loans.
The overdraft is adjustable any time during the next twelve months.
However interest is to be served every month.
Account must come in credit once in twelve months.
In the event of death of spouse, pensioner to inform the bank immediately.
And in that case no further overdraft is allowed in the account.
The facility of Over Draft shall be immediately discontinued in case the
overdraft remains outstanding after the end of twelve months and applicable
penal interest will be charged for the overdue period.
3.2 Other terms and conditions:
(i) A prospective pensioner can also open the account under the scheme
subject to receiving the pension in the account within the next six months and
gives documentary proof of the same at the time of opening of account to the
satisfaction of the branch official.
(ii) Existing accounts of eligible pensioners can be converted in this product on
the request of the customer by submitting documents to the satisfaction of bank.
(iii) Facility of overdraft to be allowed to those pensioners who have not availed
the loan facility against pension under our personal loan scheme for pensioners.
(iii) At par collection of retirement dues. However, out of pocket expenses are to
(iv) No service charges to be levied on collection/ discount of pension bills /
pension cheques of pensioners. Out of pocket expenses to be recovered.
(v) All other concessions in service charges provided to pensioner will also be
available in this product.
(vi) Branches to transfer the account to general category, if pension is not
credited in the account in the previous three months. Charges /freebies will be
(vii) Service charges in staff pension account will be as per existing scheme for
retired staff members.
4. All other terms & conditions applicable to SF General Scheme will remain
the same. Henceforth, all the new pension accounts will be opened under
scheme code SBPSS for Staff pensioners and SBNPS for other Pension Savings
5. Field functionaries are requested to popularize the unique features of the
scheme and mobilize the maximum account of pensioners.
6. Copy of Request letter from pensioner at Annexure ‘A’ and copy of
overdraft agreement at Annexure ‘B’ duly vetted by Law Division HO are
REQUEST FOR OVERDRAFT FACILITY UNDER PNB PENSION SAVINGS ACCOUNT
The Branch Manager
Punjab National Bank
Reg: Request letter for overdraft facility under PNB Pension Savings
We hereby request you to please allow us to avail overdraft facility for Rs.
______/- (Rs. _________ only) for meeting the personal expenses in the above
Pension Savings Account in which monthly pension is being credited. Overdraft
availed will carry interest at the rate as prescribed by the Bank from time to time.
We are aware that as per terms, overdraft in the account has to be adjusted any
time during the next twelve months and interest is to be served every month. We
have no objection if whole of the pension credited is adjusted towards overdraft.
In the event of unsatisfactory conduct or default in adjustment of overdraft
account, the Bank may withdraw the overdraft facility and applicable penal
interest will be charged for the overdue period. The facility of overdraft shall be
immediately discontinued in case the overdraft remains outstanding after the end
of twelve months and applicable penal interest will be charged for the overdue
In event of the death of the pensioner / spouse, the bank will be informed
immediately and the facility will be cancelled forthwith and outstanding overdraft
shall be adjusted out of the balance lying in our account and from family pension
(if any) to be credited or will be adjusted by depositing the balance amount.
(Signature of Pensioner) (Signature of Spouse)
Name of the pensioner
Name of the spouse
Pension Disbursing Authority
Mobile No./Telephone No.
AGREEMENT FOR OVERDRAFT IN PENSION A/C
In consideration of Punjab National Bank, New Delhi through their of office at……………………….
(hereinafter referred to as ‘the bank’ which expression shall include its assignees and successors in
interest) allowing or agreeing to allow Sh………………………………. & Smt………………………
(hereinafter called ‘the borrower’) which expression, unless repugnant to the context shall include their
heirs, executers, administrators, assignees, legal representatives and successors in interest) an
advance by way of overdraft up to the extent and limit of Rs…………………
(Rupees………………. ………………….) /by enhancement of overdraft from Rs…………………. to
Rs………………………(hereinafter referred to as ‘the said limit’, the borrowers hereby jointly and
severally agree as under:
1. That the bank shall not, under this agreement, be required to make advance to exceed the said
limit. The Borrowers shall, however, be responsible for the payment on demand of the entire
amount that may, at any time, be due in the account although such amount may exceed the said
2. That the interest at the rate of …………..per cent, per annum over the BASE rate/ MCLR rate with a
minimum of ………………per cent, per annum shall be calculated on the daily balance due to the Bank
on the said account and shall be charged monthly/quarterly/half yearly so long as the amount due
from the borrowers is not paid in its entirety and the same will form part of the principal and carry
interest at the above mentioned rates.
Interest chargeable shall be subject to change in interest rates made by the Reserve Bank of
India/Bank from time to time.
In case of default in the payment of interest on the due date:- and/or
In case the entire loan is recalled by the bank or otherwise as herein provided and/or :-
In case the account becomes irregular :
(a) on account of excess borrowing due to overdrawal of limit and/or drawing power not
(b) for any other reason whatsoever
The borrowers agree to pay increased interest at the rate of _
per cent, per annum with agreed rests over and above the agreed rate of interest as under :-
On the amounts in default from the date of default,
On the amount outstanding from the date of demand, and
On the amount of excess borrowing, from the date the account becomes irregular.
3. Charging of additional/increased interest shall be without prejudice to bank’s rights to
enforce securities or pursue other remedies open to the bank.
That the Borrowers agree to pay incidental charges/other charges as fixed by the said Bank
from time to time during the time the account remains open.
4. That after demand being made by the said bank, the Borrowers shall pay to the said Bank
the balance then outstanding and owing to the said Bank on the said account inclusive of
interest at the rate mentioned above to the date of payment, together with all the charges
and expenses charged or incurred by the said Bank as ascertained from the books, of the
said Bank, which the Borrowers agree to accept as sufficient proof of the correctness
thereof without production of any voucher or paper.
5. That the amount due to the said Bank on this account shall be payable by the Borrowers
at………………………………………… branch of the said Bank where the account is maintained
0r at the Head Office of the said Bank at New Delhi and the said Bank shall be entitled to bring a
suit against the Borrowers either at the place where the Branch is situated or at New Delhi
where the Head Office of the said Bank is located.
6. That the Borrowers will be liable for all costs of recovery incurred by the said Bank before
filling a suit and also for all costs in connection with the suit decree till recovery of full
7. That the borrowers shall not be entitled to any interest for any sum which may at any
time stand to their credit in this account.
8. That the said Bank will always be at liberty to stop making fresh advances at any time
without previous notice, which notice, is hereby expressly waived and without assigning
any reason even though the said limit has not been fully availed of.
9. That the Borrowers agree that their liability to the said Bank for their dues on the said
account shall be joint and several with the authority and right to the said Bank to compromise
and/or give indulgence to any of them preserving its rights and remedies against all or any of
10. That the borrowers hereby agree to hold themselves liable as aforesaid on all the confirmation
letters signed by any one of them and on all the accounts stated to any one of them. The
borrowers agree that each one of them is an agent for the other(s) to acknowledge and admit
liability outstanding in the account from time to time.
11. That the Borrowers do further agree and hereby give to the said Bank during the currency
and for the payment of its dues a general lien and right of set off and combine accounts without
notice and charge on all moveable property of every description coming into the possession
and control of the said Bank on account of the Borrowers or any one of them, or for the time
being held by the said Bank on behalf or the Borrowers of any one of them whether alone or
jointly with others in India or elsewhere including, without prejudice to this generality, any
moneys Bank drafts, deposit receipts for moneys, promissory notes, bills of exchanges, hundies,
stocks and shares goods and merchandise, bills of lading, Railways Receipts, Lorry Receipts,
Government Bills with Inspection notes and other bills in course of collection, articles in safe
custody and other documents of title to goods and any other negotiable or transferable
instrument or securities, instruments and documents of title of immovable property and
mercantile documents of every description including hire purchase agreements or contracts or
other than those affecting immovable property and requiring registration under the Acts or law
relating to registration and other documents evidencing the little of the Borrowers as creditors
or members of any Corporation, Association, Registered Society, Company or Syndicate in
India or elsewhere .”
12. That the Borrower hereby agree that any notice in writing requiring to be served hereunder
shall be sufficiently served if addressed to any one of them at their address registered in the
said Bank or, in the event of no such address being registered, at their or of any one of their
last known place of residence or business and left at such address or if forwarded to any one
of them by post at the address or place aforesaid. And the Borrowers do hereby agree that
any demand hereunder may effectually be made by parol notice to any one of them by an
officer of the said Bank or by notice in writing under the hand of such officer either served
personally on the Borrowers or any of them or left for or sent by post to any one of them at their
usual or last known place of business.
13. In witness thereof I/we, the Borrowers, hereunto set their hands at …………… this _ day
of ……………………………… Two thousand and …………………..
THE BORROWER OR BORROWERS
(In case of dispute, the English version of the form shall prevail
If you have filed your ITR (income tax) returns, you probably might have got the Intimation 143(1) letter. Simply put, it is a letter generated after the comparison between data provided by you in return filing and the record available with CPC. The letter might state anyone of the following details.
1) No demand no refund: Simply put, it means you neither have any tax payable nor do you have any refund to collect.
2) Demand determined: This simply means, there is an interest or tax is found payable by you.
3) Refund determined: Here an interest or tax is found refundable and will be returned as a refund by the Income Tax department.
If you are eligible for a refund, you should have ideally got it by now. If you still haven’t you can check for the status of the same, in a few steps.
Step 1: Visit the Income Tax Department website
Step 2: Click “Check Refund Dispatch Status” under Services option on the lower left side of the homepage.
Step 3: You will get a pop-up window which will give you three options. 1) Continue to NSDL website. 2) Login to e-filing and 3) Cancel. Choose the NSDL window option. On clicking here you will be navigated to the Tax Information Network website maintained by NSDL for displaying the status of the refund.
Step 4: You will be directed to a web page where in you will be required to fill in your PAN number. Assessment Year, you need to check the refund for. Once you go through the captcha verification, you will get the refund status.
Important things to remember:
Keep in mind, your refund is given to you as per the ‘Refund Banker Scheme’. According to the income tax website, in the ‘Refund Banker Scheme,’ the refunds generated on the processing of Income-tax Returns by the Assessing officers/ CPC-Bangalore are transmitted to State Bank of India, CMP branch, Mumbai (Refund Banker) on the next day of processing for further distribution to taxpayers. You get your refund either via NEFT or paper cheque, depending on the option you had chosen.
Your refund status could be any one of the following
1)Not determined: This means that your Income-tax Return is still not processed.
2) Refund paid: If you have not received the refund yet, check with your bank whether you have chosen for NEFT payout option or requested for a cheque in a local post office, while filing the ITR form.
3) Assessment Year not displayed in refund / demand status: This means you have missed filing your returns and need to do so immediately.
4) No demand no refund: There is no refund which is due to you.
5) Refund unpaid: The tax department may have paid the refund but failed to reach you due to some errors. You need to login into the Income Tax department site and fill in a request refund reissue form.
6) ITR processed refund determined and sent out to refund banker: This means your refund is generated. The details have already been sent to the refund banker for processing the same. You need to check the refund status in a few days.
Source by firstpost..
Cancellation Of Train Tickets: Charges For Sleeper, AC 3, AC 2, AC 1 Explained In 10 Points
The cancellation charges vary, depending on the class of travel and the time when the ticket is cancelled.
Indian Railways carries over two crore passengers daily. Train ticket cancellation charges and refund rules are one of the most common queries from rail passengers. The cancellation charges vary, depending on the class of travel and the time when the ticket is cancelled. With effect from November 2015, certain provisions of Railway Passengers (Cancellation of tickets and refund of fare) rules have been amended and comprehensive Railway Passengers (Cancellation of tickets and refund of fare) Rules 2015 have been notified through Gazette Notification G.S.R. 836(E). dated 04.11.2015.
Train ticket Cancellation Rules In 10 Points:
1) If a confirmed ticket is cancelled up to 48 hours before the scheduled departure of train, cancellation charges will be deducted at Rs. 240 for AC First Class/Executive Class, Rs. 200 for AC 2 Tier/First Class, Rs. 180 for AC 3 Tier/AC Chair car/ AC 3 Economy, Rs.120 for Sleeper Class and Rs.60 for Second Class. Cancellation charges are levied on a per passenger basis.
2) If a confirmed ticket is cancelled within 48 hours and up to 12 hours before the scheduled departure of train, cancellation charges will be 25 per cent of the fare subject to the minimum flat rate mentioned above.
3) Between 12 hours and up to four hours before the scheduled departure of train, cancellation charges will be 50 per cent of the fare paid subject to the minimum cancellation rate. No refund of fare shall be admissible on the ticket having confirmed reservation in case ticket is not cancelled or TDR (ticket deposit receipt) not filed online up to four hours before the scheduled departure of the train, says IRCTC website.
Cancellation of Wait-Listed, RAC Tickets
4) Refund will be granted on an RAC (reservation against cancellation) ticket or wait-listed ticket up to 30 minutes before the departure of train.
5) The e-tickets should be cancelled through internet and the refund of fare will be credited to the account from which the booking transaction took place, after deducting the applicable charges.
6) No cancellation charge is levied and full fare is refunded to passengers holding confirmed, RAC and wait-listed tickets if the journey is not undertaken due to late running of train by more than three hours of scheduled departure, subject to the condition that the ticket is surrendered prior to actual departure of train.
7) In case of cancellation of trains, for e-tickets, an automatic refund is granted. Filing of TDR or ticket deposit receipt is not required.
8) For a PRS (Passenger Reservation System) counter ticket, when the train is cancelled, a refund of fare is permissible within three days excluding the scheduled day of departure of train.
Cancellation Of Tatkal Tickets
9) Under the existing rules, no refund is granted on cancellation of confirmed Tatkal tickets. If a train is running late by more than 3 hours or train is cancelled, you can file TDR with proper reason for claiming refund, says IRCTC website.
10) In case of e-ticket issued for travel of more than one passenger, some passengers have confirmed reservation and others are on RAC or waiting list, full refund of fare , less clerkage, shall be admissible for confirmed passengers, subject to the condition that the ticket shall be cancelled online or online TDR shall be filed for all the passengers up to thirty minutes before the scheduled departure of the train, says IRCTC website. Other details about rules on railway cancellation and refund can be checked in this notification.
Source by ndtv..