RBI Licence No. RPCD .CO-OP(H).7/05.08.01/2009-2010

The Bank Holidays For The Year 2018


S No

DAY

DATE

HOLIDAY

1 Tuesday 15-Jan-19 SANKRANTI
2 Monday 4-Mar-19 MAHA SHIVRATRI
3 Thursday 21-Mar-19 HOLI
4 Monday 1-Apr-19 ANNUAL CLOSING OF ACCOUNTS DAY
5 Friday 5-Apr-19 BABU JAGJIVAN RAM'S BIRTHDAY
6 Saturday 6-Apr-19 UGADI
7 Friday 19-Apr-19 GOOD FRIDAY
8 Wednesday 1-May-19 MAY DAY / LABOUR DAY
9 Wednesday Jun 05,2019 EID-UL-FITAR (RAMZAN)'
10 Monday 12-Aug-19 EID AL-ADHA
11 Thursday 15-Aug-19 INDEPENDENCE DAY
12 Monday 2-Sep-19 VINAYAKA CHATURTHI
13 Tuesday 10-Sep-19 MUHARAM
14 Wednesday 2-Oct-19 MAHATMA GANDHI JAYANTI
15 Tuesday 8-Oct-19 VIJAYA DASHAMI
16 Tuesday 12-Nov-19 GURU NANAK JAYANTI
17 Wednesday 25-Dec-19 CHRISTMAS

Following festivals occur on Sunday & 4th Saturday During the year 2019

S.No

DAY

DATE

HOLIDAY

1 Saturday 26-Jan-19 Republic Day
2 Sunday 14-Apr-19 Sri Rama Navami
3 Saturday 24-Aug-19 Krishna Janmasthami
4 Sunday 6-Oct-19 DurgaAshtami
5 Sunday 27-Oct-19 Deepavali / Diwali
6 Sunday 10-Nov-19 Eid-e-Milad


A ‘Small Account' means a savings account in which:

a.aggregate of all credits in a financial year does not exceed rupees one lakh;

b.the aggregate of all withdrawals and transfers in a month does not exceed rupees ten thousand; and

c. the balance at any point of time does not exceed rupees fifty thousand. Provided, that this limit on balance shall not be considered while making deposits through Government grants, welfare benefits and payment against procurements


“On-going Due Diligence” means regular monitoring of transactions in accounts to ensure that they are consistent with the customers’ profile and source of funds.

xi. “Periodic Updation” means steps taken to ensure that documents, data or information collected under the CDD process is kept up-to-date and relevant by undertaking reviews of existing records at periodicity prescribed by the Reserve Bank.

xii. “Politically Exposed Persons” (PEPs) are individuals who are or have been entrusted with prominent public functions in a foreign country, e.g., Heads ofStates/Governments, senior politicians, senior government/judicial/military officers, senior executives of state-owned corporations, important political party officials, etc.


The KYC policy shall include following four key elements:

(a) Customer Acceptance Policy;
  • • The mandatory information to be sought for KYC purpose while opening an account and during the periodic updation, is specified.
  • • No account is opened in anonymous or fictitious/benami name.
  • • Circumstances in which, a customer is permitted to act on behalf of another person/entity, is clearly spelt out.
  • • Suitable system is put in place to ensure that the identity of the customer does not match with any person or entity, whose name appears in the sanctions lists circulated by Reserve Bank of India.
(b) Risk Management;
  • • Customers shall be categorised as low, medium and high risk category, based on the assessment and risk perception of the RE.
  • • Risk categorisation shall be undertaken based on parameters such as customer’s identity, social/financial status, nature of business activity, and information about the clients’ business and their location etc. While considering customer’s identity, the ability to confirm identity documents through online or other services offered by issuing authorities may also be factored in.
(c) Customer Identification Procedures (CIP); and
  • • In case the identity information relating to the Aadhaar number or Permanent Account Number submitted by the customer does not have current address, an OVD as defined in section 3(a) (xiv) shall be obtained from the customer for this purpose.
  • • “Provided that in case the OVD furnished by the customer does not contain updated address, the following documents shall be deemed to be OVDs for the limited purpose of proof of address:-
  • • utility bill which is not more than two months old of any service provider (electricity, telephone, post-paid mobile phone, piped gas, water bill);
  • • ii. property or Municipal tax receipt;
  • • pension or family pension payment orders (PPOs) issued to retired employees by Government Departments or Public Sector Undertakings, if they contain the address;
(d) Monitoring of Transactions

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