Page 49 - Banking Finance December 2018

BAN N

2. apanese iti en of on n ian ori in o es to 2 . s per nn a po i state ent 2 7 the ris
n ia as to rist. he ants to open an a o nt ith ei ht on oans pto a h a ainst o si er
o r ran h o i orna ents i e
open R a c 2 7
2 open R a c

ordinar sa in s a c
ad ise her to rin per ission fro RB 2 . ithin hat ti e a p i ate e an raft is to e
iss e to the p r haser if a the papers are
. nterest earne on R a o nts sa in s ti e
s itte
eposits are to e ta e
ithin a fortni ht 2 ithin onths

no s ch ti e i it ithin da s
2 2
not ta a e
22. hat is to e he e efore a o in operation in
s rchar e if app ica e cess
a safe eposit o er.
. R ti e eposits an e opene for ini an si nat re and operationa instr ctions
a i for 2 pass ord
onths and ears 2 ear and ears
hether rent is d e
ear and ears da s to ears
a the a o e
. he a i a o nt that is repatria e in R
a o nts is in a finan ia ear is 2 . hen oes a er oan Be o es
M R . hen interest re ains o erd e for a period
2 M R R B 2. hen insta ent of principa re ains o erd e for ore
M than da s
2 R . hen interest and or insta ent of principa re ains
o erd e for a period of ore than da s
. B ha e an a o nt ith operatin instr tions
. hen interest and or insta ent of principa re ains
for er or r i or. o no ination is in the a o nt.
o erd e for a period of ore then da s
Both of the ie. Mone is pa a e to
e a heir of 2 e a heir of B
2 . hen oes a oan rante for on ration rop
e a heir of B one
e o es
7. he re ationship et een a an er an sto er in f the insta ent of principa re ains o erd e for 2 crop
ase of a at re i e eposit re ainin n ai e seasons
e tor reditor 2 r stee rincipa 2 f the interest re ains o erd e for 2 crop seasons
reditor e tor r stee Beneficiar f the insta ent of principa or interest re ains
o erd e for 2 har est season or t o ha f ear hiche er
. he o er of ttorne o er has a epte the i
is ear ier
on eha f of the rin ipa Before the e ate the
f the insta ent of principa or interest re ains
prin ipa re o es the po er of ttorne herefore
o erd e for crop season
can ref se to pa the i
2 cannot ref se to pa the i
2 . a sho e treate as o t of or er
the i is not said to ha e een accepted
. f the o tstandin a ance re ains contin o s in
none of the a o e
e cess of sanctioned i it for da s
. Resi ent n ian has o taine forei n e han e for 2 f there are no credits contin o s for da s or
ri ate isits e st ret rn n se forei n credits are not eno h to co er the interest de ited.
e han e e on 2 ithin f the o tstandin a ance re ains contin o s in
da s
e cess of sanctioned i it dra in po er for da s
2 da s
a o e
incase of c rrenc da s and ithin da s
onths ns on

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