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Annual Report 2007-08
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| Home : Resource / Treasury : Term Deposit Scheme | :: TERM DEPOSIT SCHEME |
General Instructions
1. Application in the prescribed Form must be completed in full in BLOCK LETTER. PREFIXES such as Shri/Smt. shall not be repeated while filling in names. A blank space must be left between two or more parts of the name e.g. AMAR JAGDISH SHAH. The depositor(s) should tick the appropriate boxes provided in the Application Form. Where alternatives are given e.g. Shri/Smt. the depositor(s) should delete those which are not applicable.
2. Depositors may apply for placing the deposit under either of the two interest options available under the Scheme. SEPARATE APPLICATION FORM MUST BE USED FOR THE DEPOSIT UNDER EACH OPTION. The depositor(s) should clearly indicate the Option selected in the Application. If no option is selected, the deposit shall be treated as intended to be placed under Cumulative Interest Option.
3. In the case of HUF, the name of the Karta should be mentioned in the space provided for filling in the name of the Depositor(s). The name of HUF should be specified separately as indicated in the Form. The Application Form should be signed by the Karta on behalf of HUF. All payments/repayments and communication will be sent to the Karta.
4. The depositor(s) should clearly indicate in the Payment Instructions the person to whom interest and principal amount of deposit (in the event of death of the sole/first-named depositor) shall be paid, by ticking the relevant box. All communications and payments/repayments will be sent to the sole/first-named depositor.
5. In the case of Application made under Power of Attorney or by judicial persons, such as Limited Company, Corporate Body, Society, Trust or an Association of Persons, a certified true copy of the Power of Attorney or relevant authority to place the deposit, as the case may be, shall accompany the Application Form and the Application Form shall be signed by the constituted attorney or the authorised signatory/ies, as the case may be.
6. Signature(s) on the Application Form shall be in English or in any of the Indian languages. If the signature is by thumb impression, it must be attested by an authorised official of a Bank or by a Magistrate/Notary Public under his/her official seal.
7. Application Form complete in all respects shall be submitted at any of the offices of Exim Bank /collecting centers accompanied by payment of the deposit amount by means of a crossed “Account Payee” cheque/demand draft/pay-order favouring “Exim Bank - Term Deposit A/c. ” . A separate cheque/demand draft/pay order must accompany each Application Form. The tenor of Term Deposit will commence from the date of realization of cheque.
8. Incomplete Application is liable to be rejected and Exim Bank would not be responsible for consequences thereof. Exim Bank reserves the right at its sole and absolute discretion to reject any Application for a fresh deposit or for renewal without assigning any reason in which event the amount of deposit received by Exim Bank will accordingly be refunded without interest to the sole/first-named depositor.
9. Receipt of Application Form will be acknowledged in the ‘Acknowledgement Slip’ appearing below the Application Form by the Office of Exim Bank /Arrangers to the Deposit Scheme to whom the Application shall be submitted. The Acknowledgement Slip will be made out in favour of the sole/fist-named depositor and shall bear the date and stamp of Exim Bank’s Office/Arrangers to the Deposit Scheme.
Government of Maharashtra has declared Term Deposit Scheme of Exim Bank as “Public Securities” under section 2(12) d of the Bombay Public Trust Act, 1950.
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