INTRODUCTION

ING Vysya Bank Ltd., is an entity formed with the coming together of
erstwhile, Vysya Bank Ltd, a premier bank in the Indian Private Sector and a
global financial powerhouse, ING of Dutch origin, during Oct 2002.
The origin of the erstwhile Vysya Bank was pretty humble. It was in the year
1930 that a team of visionaries came together to form a bank that would extend
a helping hand to those who weren't privileged enough to enjoy banking
services.
It's been a long journey since then and the Bank has grown in size and
stature to encompass every area of present-day banking activity and has carved
a distinct identity of being India's Premier Private Sector Bank.
In 1980, the Bank completed fifty years of service to the nation and post
1985; the Bank made rapid strides to reach the coveted position of being the
number one private sector bank. In 1990, the bank completed its Diamond
Jubilee year. At the Diamond Jubilee Celebrations, the then Finance Minister
Prof. Madhu Dandavate, had termed the performance of the bank
‘Stupendous’. The 75th anniversary, the Platinum Jubilee of the bank was
celebrated during 2005.
The long journey of seventy-five years has had several milestones…
Outlets comprises of 441 branches, 37 ECs, 28 Satellite Offices and 351
ATMs as of March 31st 2009. Additionally the bank also has Internet Banking,
mi-b@nk and Customer Service Line for Phone Banking Service.
The origin of ING Group
On the other hand, ING group originated in 1990 from the merger between
Nationale – Nederlanden NV the largest Dutch Insurance Company and NMB
Post Bank Groep NV. Combining roots and ambitions, the newly formed
company called “Internationale Nederlanden Group”. Market circles soon
abbreviated the name to I-N-G. The company followed suit by changing the
statutory name to “ING Group N.V.”.

Profile

ING has gained recognition for its integrated approach of banking, insurance
and asset management. Furthermore, the company differentiates itself from
other financial service providers by successfully establishing life insurance
companies in countries with emerging economies, such as Korea, Taiwan,
Hungary, Poland, Mexico and Chile. Another specialisation is ING Direct, an
Internet and direct marketing concept with which ING is rapidly winning retail
market share in mature markets. Finally, ING distinguishes itself
internationally as a provider of ‘employee benefits’, i.e. arrangements of
nonwage benefits, such as pension plans for companies and their employees.

Mission

ING`s mission is to be a leading, global, client-focused, innovative and low-

cost provider of financial services through the distribution channels of the
client’s preference in markets where ING can create value.

The new identity

The immediate benefit to the bank, ING Vysya Bank, has been the pride of
having become a Member of the global financial giant ING. As at the end of
the year December 2008, ING's total assets exceeded 1332 billion euros,
employed over 125000 people, served over 85 million customers, across 50
countries. This global identity coupled with the back up of a financial power
house and the status of being the first Indian International Bank, would also
help to enhance productivity, profitability, to result in improved performance
of the bank, for the benefit of all the stake holders.

ING In India

In India, ING is present in all three fields of banking, insurance and asset
management in the form of ING, ING Vysya Life Insurance and ING
Investment Management respectively. The presence in all three fields
signifies the importance that the group attaches to the Indian markets and
the group's operations here, as well as its bullish future outlook on the
country.
ING and ING Vysya Life Insurance are headquartered at Bangalore, while
the corporate office of ING Investment Management is situated at Mumbai.
The synergies arising out of the three distinct but complimentary businesses
are bound to be an asset to the group in the changing market dynamics of
the future. The first such signs are already visible on the horizon with
combined products being successfully launched by the different entities of
 the group in conjunction with each other.

The origin of ING Group

On the other hand, ING group originated in 1990 from the merger between
Nationale – Nederlanden NV the largest Dutch Insurance Company and NMB
Post Bank Groep NV. Combining roots and ambitions, the newly formed
company called “Internationale Nederlanden Group”. Market circles soon
abbreviated the name to I-N-G. The company followed suit by changing the
statutory name to “ING Group N.V.”.

Profile

ING has gained recognition for its integrated approach of banking, insurance
and asset management. Furthermore, the company differentiates itself from
other financial service providers by successfully establishing life insurance
companies in countries with emerging economies, such as Korea, Taiwan,
Hungary, Poland, Mexico and Chile. Another specialisation is ING Direct, an
Internet and direct marketing concept with which ING is rapidly winning retail
market share in mature markets. Finally, ING distinguishes itself
internationally as a provider of ‘employee benefits’, i.e. arrangements of
nonwage benefits, such as pension plans for companies and their employees.

Mission

ING`s mission is to be a leading, global, client-focused, innovative and low-

cost provider of financial services through the distribution channels of the
client’s preference in markets where ING can create value.
The new identity

The immediate benefit to the bank, ING Vysya Bank, has been the pride of
having become a Member of the global financial giant ING. As at the end of
the year December 2008, ING's total assets exceeded 1332 billion euros,
employed over 125000 people, served over 85 million customers, across 50
countries. This global identity coupled with the back up of a financial power
house and the status of being the first Indian International Bank, would also
help to enhance productivity, profitability, to result in improved performance
of the bank, for the benefit of all the stake holders.
ING
ING Vysya Bank Ltd., is an entity formed with the coming together of
erstwhile, Vysya Bank Ltd, a premier bank in the Indian Private Sector and a
global financial powerhouse, ING of Dutch origin, during Oct 2002. The origin
of the erstwhile Vysya Bank was pretty humble. It was in the year 1930 that a
team of visionaries came together to found a bank that would extend a helping
hand to those who weren't privileged enough to enjoy banking services.
It's been a long journey since then and the Bank has grown in size and stature
to encompass every area of present-day banking activity and has carved a
distinct identity of being India's Premier Private Sector Bank.
In 1980, the Bank completed fifty years of service to the nation and post 1985;
the Bank made rapid strides to reach the coveted position of being the number
one private sector bank. In 1990, the bank completed its Diamond Jubilee year.
At the Diamond Jubilee Celebrations, the then Finance Minister Prof. Madhu
Dandavate, had termed the performance of the bank ‘Stupendous’. The 75th
anniversary, the Platinum Jubilee of the bank was celebrated during 2005.

ING Vysya Life Insurance

ING Vysya Life Insurance Company Limited a part of the ING Group the
world’s largest financial services provider^ entered the private life
insurance industry in India in September 2001. Headquartered at Bangalore,
ING Vysya Life is currently present in 246 cities and has a network of over
300 branches, staffed by 7,000 employees and over 51,000 advisors, serving
over 5.5 lakh customers.

Product Portfolio

ING Vysya Life follows a “customer centric approach” while designing its
products. The Company’s product portfolio offers products that cater to every
financial requirement, at all life stages.
In fact, the company has developed the LifeMakerTM a
simple tool which can be used to choose a plan most
suitable to a specific customer based on his needs,
requirements and current life stage. This tool helps you
build a complete financial plan for life at every lifestage,
whether the requirement is Protection, Savings, Investment
or Retirement. Suitable products from ING Vysya Life
Insurance’s product portfolio for each such requirement,
makes selection of your plan an easy exercise.

The Company aims to make customers look at life insurance afresh, not just as
a tax saving device but as a means to live life to the fullest. It believes in
enhancing the very quality of life, in addition to safeguarding an individual's
security.
Distribution Channels

ING Vysya Life has a diversified distribution platform. While Tied Agency
remains the strongest channel, the Alternate Channels business within ING
Vysya Life is one of the fastest growing distribution channels. ING Vysya Life
has strengthened its position as the unparallel leader in the life insurance
industry in cooperative banks tie ups. The company currently has tie ups with
130 cooperative banks across the country. The Alternate Channels division has
Bancassurance, ING, Corporate Agents and SMINCE
The Brand Positioning

In 2007, ING Vysya Life developed its unique brand positioning ‘Mera farz’.
This positioning means, ING Vysya Life helps its customers fulfil their
responsibilities towards themselves and their families. This powerful
positioning has helped ING Vysya Life create a distinct identity for itself. The
latest brand campaign with a very catchy jingle dwells on how a little planning
and a helping hand from ING Vysya life can help lighten the burden of
responsibilities that often come with happy moments and let you enjoy your
life without any worries.
ING Investment Management

Profile:

In India ING Investment Management (I) Pvt Ltd has an investor base of
 over 1,52,677 with Rs. 5080.97 crores as of June 30th, ’07. With a presence
in 34 locations, we currently manage 21 schemes.
ING Investment Management (I) Pvt Ltd has been associated with
innovation and responsive adaptability with sharp minds at work. ING
Investment Management has sealed a position of strength and is considered
as one of the top contenders to challenge the market leaders. ING
Investment Management has enjoyed many firsts and has always
maintained a pioneering outlook.

A few achievements are highlighted below:-

○ First Investment Manager to launch a packaged concept in Asset

Management Industry.
○ Awarded “Abby Gold 2006” for its advertising Campaign for ING
LION Fund.
○ Two CRISIL AAAf * products in Debt Fund space. (ING Liquid
Fund & ING Floating Rate Fund).
○ First Asset Manager to launch a debt fund based on Credit risk with a
portfolio based on credit monitor. (ING Select Debt Fund).
○ First Private Sector Mutual Fund to launch a concept dedicated to
women. (Mahilanivesh).
○ ING Dynamic Asset Allocation Fund was awarded “Most Innovative
Product” by Asia Asset Monitor.
○ ING Mutual Fund recently launched India’s first DAILY
TRANSFER PLAN called Zoom Investment Pac (ZIP).
○ ING Mutual Fund has also pioneered a new reality show on television
called Indian Investor of the Year.
The assigned rating of AAAf is valid only for ‘ING Floating Rate Fund’ and
‘ING Liquid Fund’. The rating of the fund is not an opinion of the asset
management company’s willingness or ability to make timely payments to the
investor. The rating is also not an opinion on the stability if the NAV of the
fund, which could vary with market developments.
Mission & Strategy
Our mission
ING aims to deliver its financial products and services in the way its customers
want them delivered: with exemplary service, convenience and at competitive
prices. This is reflected in our mission statement: to set the standard in helping
our customers manage their financial future.
Our strategy
The underlying objectives
ING aims to deliver financial products and services in the way that our
customers want them delivered: with exemplary service and maximum
convenience at competitive prices.
How we are getting there
We are a global financial institution of Dutch origin, currently offering
banking, investments, life insurance and retirement services.

In early 2009 we introduced our “Back to Basics” programme to streamline the

company while reducing risk, costs and leverage. A key element in this
streamlining process was a commitment to reduce complexity by operating the
Bank and Insurer separately under one Group umbrella.

On 26 October 2009, we announced that we will move over the coming years
towards a complete separation of our banking and insurance operations
(including Investment Management). We see this as the logical next step in our
Back to Basics programme and the right time to take that step. The separation
is expected to be executed by the end of 2013.

Why this change of approach? Prior to the crisis, being a combined banking
and insurance company gave ING advantages of scale, capital efficiency and
earnings stability. The landscape has been transformed by the crisis and we
now believe the widespread demand for greater simplicity, reliability and
transparency makes the complete separation of the banking and insurance
operations the best course of action for all our stakeholders.

In the future, the most successful financial services organisations will be those
that earn and maintain their customers’ trust through transparent products,
value for money and superior service. The split will enable both our Bank and
our Insurer to emerge from the crisis more efficient, more agile and better
equipped to meet our customers’ needs.
Two strong businesses
We will do all we can to secure the lasting success of both our banking and
insurance operations. Ensuring business continues as usual for our customers,
and that during the reorganization process we protect value for shareholders
while meeting the broader interests of our employees and many other
stakeholders.

We will continue to operate and invest in our insurance businesses as if we are

the long-term owner in a way that enhances their market position and financial
performance.

Across both banking and insurance operations, we will continue on the course
set out in the first phase of our “Back to Basics” programme. This will include
the on-going streamlining and standardisation of processes and systems,
further procurement savings, and continually improving the effectiveness and
efficiency of our IT systems.
Banking strategy
ING’s long-term goal is to be a leading European retail and commercial bank.
Our banking activities will be based on the proven strengths of gathering
savings, distribution leadership, simple propositions and strong marketing. We
will be predominantly focused on Europe with selective growth options
elsewhere.

Over time, we will build on our current strong market positions to maintain our
financial performance through commercial and operational excellence, high
customer satisfaction, and a strong capital position.
Insurance and Investment Management strategy
Our insurance company is a leader in retirement services, with an attractive
mix of mature and growth markets. Ensuring improvement in the financial
performance of all our insurance businesses is a key component of our
strategy.

The insurance business will focus on our long-term structural leadership

positions in life and retirement services. The business will be managed
regionally, with key building blocks including the operations in the Benelux,
US, Central Europe, Latin America and Asia. We will continue to work to
capture synergies and best practices throughout our insurance businesses.

Investment Management will continue to pursue its strategy to become an

integrated, globally-managed asset manager, combining three regional
operations and ING Real Estate Investment Management. Managed as a
separate management centre, it will provide services to third party clients as
well as insurance and banking subsidiaries. Though managed globally,
Investment Management recognises the importance of having a strong local
presence in key markets.
Latest updates on strategy execution
25 November: Shareholders approve restructuring plan
ING Group’s shareholders and depositary-receipt holders approved the
strategic decision to separate banking and insurance operations (including
Investment Management) and authorized an intended rights issue at an EGM.

“These are far-reaching decisions that have not been easy for us, but they are
of great importance to ING,” ING’s CEO Jan Hommen told the meeting.
18 November: EC approves restructuring plan
The European Commission formally approved the restructuring plan submitted
by ING. “This decision further clears the path for the next phase of our Back to
Basics programme.” – Jan Hommen, CEO, ING.
A bank account is a financial account with a banking institution, recording
the financial transactions between the customer and the bank and the resulting
financial position of the customer with the bank.
Bank accounts may have a positive, or debit balance, where the bank owes
money to the customer; or a negative, or credit balance, where the customer
owes the bank money.
Broadly, accounts opened with the purpose of holding debit balances are
referred to as deposit accounts; whilst accounts opened with the purpose of
holding credit balances are referred to as loan accounts.
Some accounts are defined by their function rather than nature of the balance
they hold. Bank accounts designed to process large numbers of transactions
may offer credit and debit facilities and therefore do not sit easily with a
polarised definition. These transactional accounts are called by different names
in different countries: in the U.S. and Canada, they are called "checking
accounts"; in the UK, they are termed "current accounts".
Savings Account
The Savings accounts are primarily meant to inculcate a sense of
saving for the future and take care of individuals day to day banking
requirements. These accounts are meant to help individual customers
protect their money. The Savings Accounts also help individuals to
handle their financial transactions through a systematic banking
channel. This increases the safety as customers need not carry physical
cash with them.
A few concepts about the Savings Accounts are explained below:
1. Quarterly Average Balance (QAB) - The sum of end of day balances
for a quarter (90 days) are taken and divided by the number of days in
the quarter (90). The resultant value is the quarterly average balance
for that quarter. (90 days/ 3 months)
2. Service Charge for non maintenance of Quarterly Average Balance
(QAB) - Where the quarterly average balance is not maintained in the
account, there is a service charge applicable as per the product features.
3. Interest on deposits held in Savings Bank accounts - The interest
payable on a Savings Bank account is regulated and prescribed by the
Reserve Bank of India. It is the same across all Scheduled Commercial
Banks and is currently at 3.5 % per annum.
4. Interest Calculation on deposits held in Savings Bank accounts - The
interest on deposits held in a Savings Bank account is calculated based
 on the lowest balance held in the account on any day, between the 10th
and the last day of the month.
5. Interest Disbursement - Savings Bank interest is credited to the
customer's savings account twice a year at half yearly intervals. (Last
day of February and last day of August in each financial year.)
6. Interest earned on Savings accounts is exempted from Tax deduction
at source, for resident Indians.
7. Certain banking terminologies related to a Savings account:

a). D.D - Demand Draft. (Instrument where, the funds are paid out,
On Demand, issued outside location of the branch)

b). P.O - Pay order. (Instrument where, On Demand, the funds are
paid out, Local)

c). PAP Cheques - Payable at Par Cheques / Multi-city cheques.

d). RTGS - Real Time Gross Settlement. (Transfer of funds

electronically. Value > 1lakh)

e). NEFT - New Electronic Fund Transfer. (Transfer of funds

electronically. Value < 1 Lakh)

Current Account

Small, medium and large businesses alike will find that ING's current account
offerings come with all the benefits needed to stay ahead of competition.
Whatever the size or scope, you will find a current account option exclusively
designed for you.
TYPES OF CURRENT ACCOUNT

Orange Current Account

In today's fast-paced world, your business regularly requires you to receive and
send funds to various cities in the country. ING Orange Current Account gives
you the power of inter-city banking with a single account and access to more
than 200 cities.

From personalized cheques that get treated at par with local ones in any city
where we have a branch, to Free collection (if instruments are lodged directly)
of outstation cheques (payable at branch locations), to free inter-city funds
transfers of up to 200 lakhs per month, our priority services have become the
benchmark for banking industry.
Orange Current Account

Features & Benefits

 Free remittance limit (DD /PO /RTGS /EFT / NEFT) of Rs.2 cores per
month; power packed feature with potential to save up to Rs.4.8 lakhs per
annum.*

Free collection of outstation cheques drawn on ING locations

Free unlimited payable at par (PAP) Cheque Payments

Free mi-b@nk Internet Banking facility *

Free unlimited transfer of funds within the bank

Free easy anywhere cash deposit up to a specified limit and withdrawal.

Free issue of personalized cheque book (including PAP cheques).

Avail safe deposit locker facility (where available) on a preferential basis.
 Free usage of ATM Network: The international debit card provides for
unlimited usage in ING ATMs.

Free ATM cum debit card with access to any ATM of any bank. ^

Free 24 hours Customer Service Line (toll free).

Free SMS alert.

Multiple channels to access your account

Free standing instructions facility for regular payments and many more.

Cheque picks up facility available at selected locations.
 Features indicated above are available against stipulated Quarterly Average
Balance of Rs1 lakh. Non - maintenance attracts penalty besides charges will
be levied for usage of facilities. Please check for details.
* Conditions apply. Bank reserves the right to change, modify or delete some
of the features, without notice.
* Saving of Rs.4.8 lakhs per annum is calculated at 20 ps. percent and is
subject to usage of full limit of free remittance package of Rs.200 lakhs per
month
^ On the Cirrus network.
Orange Current Account

Eligibility and Documentation


Resident Individuals

Hindu Undivided Families

Sole Proprietorship Firms

Partnership Firms

Limited Companies

Trust Accounts

Association / Clubs / Societies

Foreign nationals residing in India

All you need is to maintain an average balance of Rs. 1,00,000/- per quarter.
(Non-maintenance of which entails a charge as per the following:)

When the QAB is less than 1 lakh there is a service charge of Rs. 4000/- per
quarter. Besides, free facilities become chargeable as per schedule of service
charges.

Charges indicated exclude applicable Service Tax

Advantage Current Account

In today's fast-paced world, your business regularly requires you to receive and
send funds to various cities in the country. ING Advantage Current Account
gives you the power of inter-city banking with a single account and access to
more than 300 cities.

From personalized cheques that get treated at par with local ones in any city
where we have a branch, to Free collection (if instruments are lodged directly)
of outstation cheques (payable at branch locations), to free inter-city funds
transfers of up to Rs.50 lakhs p.m., our priority services have become the
benchmark for banking industry.

Read on to know the powerful plus points of the ING Advantage Current
Account.
Advantage Current Account

Features & Benefits:

 Free remittance limit (DD/ PO/ RTGS/ EFT/ NEFT) of Rs. 50 lakhs p.m.;
power packed features with potential to save upto Rs.1.20 lakhs p.a.

Free collection of outstation cheques Drawn on ING locations.#

Free unlimited payable at par Cheque payments.

Free unlimited transfer of funds within the Bank.

Free easy anywhere cash deposit up to a specified limit and withdrawal.
 Free issue of personalized cheque books and personalized payable at par
cheques

Free SMS alerts *

Free standing instructions facility * for regular payments

Free ATM cum debit card with access to any ATM, of any bank ^

Avail safe deposit locker facility (where available) on a preferential basis
 Free usage of ATMs network: The international debit cards provides for
unlimited usage in ING ATMs

Free SMS alerts
Cheque pick up facility at select locations

Free 24 hours Customer Service Line (toll free)

Multiple channels to access your account and many more

Features indicated above are available against stipulated Quarterly Average

Balance. Non-maintenance attracts penalty besides charges will be levied for
facilities. Please check for details. Conditions apply.
Bank reserves the right to change, modify or delete some of the features,
without notice. Saving of Rs. 1.2 lakhs p.a. is calculated at 20ps % and is
subject to usage of full limit of free remittance of Rs.50 lakhs p.m.^ On the
cirrus network

Eligibility & Documentation:


Resident Individuals

Hindu Undivided Families

Sole Proprietorship Firms

Partnership Firms

Limited Companies

Trust Accounts

Association / Clubs / Societies

Foreign nationals residing in India

All you need is to maintain an average balance of Rs. 50,000/-per quarter.

(Non-maintenance of which entails a charge as per the following:)

When the QAB is less than 50,000 there is a service charge of Rs. 1500 per
quarter. Besides, free facilities become chargeable as per schedule of service
charges. Charges indicated exclude applicable Service Tax.
General Current Account

A Current account is ideal for carrying out day-to-day business transactions.

With the ING General Current Account, you can access your account anytime,
anywhere. Withdraw and deposit cash, issue and encash cheques, make
balance-inquiries or ask for mini statements, and even request for cheque
books any time, anywhere.

With a vast network of branches in cities all over the country, and access to a
multitude of ATM's, you can keep track of all your transactions anytime.
General Current Account

Features & Benefits:


Access your account from any of the networked branches across India

Deposit cash at any of the branches (networked) across India
 International debit card cum ATM card to access your account from the wide
network of ING ATMs and self banking across the country
 Enjoy FREE 24- hour Phone Banking and Net Banking facilities that helps
you check your balance and other details
 Attractive rates for inter-city/inter-branch transactions (Please refer Service
Charges chart for details)
 Utilize a safe deposit locker (available at selected branches) for your
valuables and important documents

Personalized cheque book for enhanced security
Cash pick up and delivery services at selected centers ( subject to approval of
 RBI)
General Current Account

Eligibility and Documentation

The following are eligible to operate a General Current Account


Resident Individuals

Hindu Undivided Families

Sole Proprietorship Firms

Partnership Firms

Limited Companies

Trust Accounts

Association / Clubs / Societies

Foreign nationals residing in India

All you need is to maintain an average balance of Rs. 10000/- per quarter.
(Non-maintenance of this balance entails a nominal charge of Rs. 750/- per
quarter).

Charges indicated exclude applicable service tax.

Comfort Current Account
ING's Comfort Current Account lets you save as much as Rs. 60,000 p.a. for
remittance up to Rs. 25 lakhs. This is in addition to a range of other attractive
benefits, as well.

Read on to know the powerful plus points of the ING Comfort Current
Account.
Features & Benefits:

 Free remittance limit (DD /PO /RTGS /EFT / NEFT) of Rs.25 lakhs per
month.
 Free Collection of outstation cheques drawn on the branch
locations/centers.

Free Mi-b@nk Internet Banking Facility.

Free unlimited payable at par cheque Payments
 Free anywhere cash deposits: Up to Rs.25, 000/- per day. Maximum 4
transactions Rs.1.00 lakh per month
 Account-to-account funds transfer: Free unlimited transfer of funds from
one account to another account within the Bank.
 Free anywhere cash withdrawal: The account holders can withdraw cash
from any of our branches subject to anywhere banking guidelines of the
Bank.
 Free usage of ATM Network: The international debit card provides for
unlimited usage in ING ATMs.

Free issue of personalized MICR/PAP Cheque Books.

Free 24 hours customer service line.
 Free monthly Statement of Account.

Doorstep banking at selects centers (Chargeable service).

Free SMS alerts.

Eligibility and Documentation


Resident Individuals

Hindu Undivided Families

Sole Proprietorship Firms

Partnership Firms

Limited Companies

Trust Accounts

Association / Clubs / Societies

Foreign nationals residing in India

All you need is to maintain an average balance of Rs. 25,000/-per quarter.

(Non-maintenance of which entails a charge as per the following)

When the QAB is less than 25,000 there is a service charge of Rs. 1000 plus
applicable service taxes, per quarter. Besides, free facilities become chargeable
as per schedule of service charges. Charges indicated exclude applicable
Service Tax.
Demand Draft
What Does Demand Draft Mean?
A method used by individuals to make transfer payments from one bank
account to another. Demand drafts are marketed as a relatively secure method
for cashing checks. The major difference between demand drafts and normal
checks is that demand drafts do not require a signature in order to be cashed.

Also known as "remotely created checks".

Demand drafts were originally designed to benefit legitimate telemarketers
who needed to withdraw funds from customer checking accounts. However,
the lack of a signature required to authorize the transfers have left demand
drafts open to fraudulent use. The only information needed to create a demand
draft is a bank account number and a bank routing number - this information
is found on a standard check.
Pay To Order
Pay To Order Means
A check or draft that must be paid via endorsement and delivery. Pay-to-order
instruments are negotiable checks or drafts that are generally written as "pay
to X or order." These instruments stand in contrast to pay-to-bearer
instruments, which do not require endorsement.

Pay To Order
The Uniform Commercial Code outlines the rules pertaining to pay-to-order
instruments. It specifies that ownership of this type of check can be transferred
only via endorsement – someone who accepts a check must endorse it before
transferring it somewhere else.

DD PO TT CHARGES
Sl. DETAILS Slabs Applicable Charges
No.
1 Issue of DD / PO / TT • Up to Rs. • Rs. 50/- flat
By debit to customer 10,000 • Rs. 2.50 per Rs.1000/- or part
 account or cash deposit • Rs. 10,001/- to thereof subject to a minimum of
by customer Rs.50000/- Rs. 50
Note • Rs.50001/- to • Rs. 2/- per Rs.1000/- or part
Rs.2.00 lacs thereof subject to the minimum
• Beyond of Rs. 125/-
Rs.2.00 lacs • Rs. 1/- per Rs.1000/- or part
thereof subject to the minimum
of Rs. 400/ &max Rs.6000/-
2 Issue of DD / PO / TT • Up to Rs. • Rs. 100/- flat
For non-customers 10,000 • Rs. 200/- flat
against cash deposit not • Above Rs.
exceeding Rs. 50,000/- 10,000 but less
than Rs.50,000
3 Issue of DD / PO / TT • Up to Rs. • Rs. 100/- flat
for non customers 10,000/- • Rs. 2.50/- per thousand or part
against deposit of • Above Rs. thereof with a minimum of Rs.
clearing cheques 10,000/- to 100/ Rs. 2/- per Rs.1000/- or
(DD/PO/TT will be Rs.50,000/- part thereof subject to the
issued only after • Rs.50001/- to minimum of Rs. 125/-
availability of clear Rs.2.00 lacs • Rs. 2/- per Rs.1000/- or part
funds) thereof subject to the minimum
• Beyond
Rs.2.00 lacs of Rs. 125/-
• Rs. 1/- per Rs.1000/- or part
thereof subject to the minimum
of Rs. 400/- & max Rs.6000/-
4 Cancellation of DD / PO Any Amount Rs. 50/- for each Cancellation
5 Issue of duplicate DD / Any Amount Rs. 50/- for each Instrument
PO
6 Revalidation of DD / POAny Amount Rs.0.25 percent, Min Rs. 50/- for
each revalidation

NOTE:-
 a) Issue of DD against cash should not exceed Rs.50,000/-
b) Above charges are applicable for DDs issued on correspondent
banks.
c) As a policy, branches should not encourage issue of DD / PO / TT
etc. against deposit of cash.

REAL TIME GROSS SETTLEMENT

SYSTEM{RTGS}
An RTGS system is a gross settlement system in which both the processing
and final settle ment takes place continuously it is the central settlement
system. It enables the system to effect continuously in the central bank money.
About RTGS:

 Facilitates ultimate, online, real time integrated payment and settlement

 Facilitates safe, secured, seamless funds transfer of Rs.1 lakh and above.
 Payment instructions between banks are processed and settled individually
and
continuously without netting the debits against credits.
 You can transfer / receive funds from one bank (branch) to other bank
(branch) over 40,000 bank branches across the country.
 Cuts across geographical boundaries.
Features:

 Wider day time window for collections / payments

 Cuts across Inter Bank and Clearing House settlement Issues
 You can receive / transfer funds from any of our Branches
 This facility is available for account holders only.
Advantages:
 Funds transferred by you / received by you can be used on the same day –
Enjoy intra day credit / liquidity.
 Reduced operational risk of fraud and loss of cheque.
 Eliminates problem of delay on payments.
 No more the anxious wait for a week or a fortnight, wondering if the
instrument
reached safely and was duly realized.
 Debtor will no longer be able to enjoy the kind of "float" he did by giving
an
outstation cheque.
 will not be able to fob off with a cheque and then give "stop payment"
instructions to his bank.
 No courier / postal charges.
 You will be surprised to know RTGS Charges are lesser than DD/PO
Commission.

Timings and Fees:

 Week Days (Monday – Friday) 09:00am to 16:30Hrs(RBI Cut-off

Time) 09:00am to 16:00Hrs(Our Bank Cut-off Time)
 Saturdays 09:00am to 12:00Hrs(RBI Cut-off
Time) 09:00am to 11:30Hrs(Our Bank Cut-off Time)
 RTGS Receipts - .
 Outward - Outward - Rs.0.25 per Rs.1000/- (Min Rs.50/- Max Rs.1500)+
Applicable Service Tax
Above Rs 5 lakh: Rs 50 per transaction + service tax
 Inward - Free.

Procedure:

 Please fill and sign the “RTGS” payment instruction application form
completely
and hand over to your Branch.
 Your Payment Instruction shall be the record for accuracy of the particulars
in the RTGS Payment Request Form
 Your Payment Instruction for execution of RTGS payment shall become
irrevocable when the Bank executes it.
 Any revocation after executing the payment by our Bank shall not be
binding on any party in the RTGS System.
 Payments processed will reach the beneficiary bank within the time
stipulated by RBI.
 It is mandatory for Beneficiary Bank (branch) to apply / return funds
within 2
hours of receipt of the payment as per RBI present guidelines.
 ING Vysya Bank is not responsible for any charges / commission of any
kind levied / charged by beneficiary bank for applying the funds to
beneficiary account.o Please note, actual time taken to credit the beneficiary
account depends on the time taken by the beneficiary bank to process the
paymento In case of RTGS receipts, please provide your 12 digit a/c
number and the title as it appears in your account statement / cheque book and
IFSC Code (printed on your cheque book) to remitter to avoid returns /
delay in credit .
 Queries:Please email to ccu@ingvysyabank.com for any clarification /
suggestion

NEFT - National Electronic Funds Transfer:

 Facilitates ultimate online, integrated payment and settlement system
primarily for small value payments at nominal cost
 You can avail this facility through all our Branches
 You can transfer / receive funds from one bank (branch) to other bank
(branch) over 40,000 bank branches across the country To access Customer
Facilitation Centre (CFC) of Member banks for resolution of complaints
related to NEFT Transaction,

Features:

 Charges for NEFT payments are nominal when you are availing NEFT
facility through our Branch.
 You can avail this facility through our Mi@bank internet Online Funds
transfer facility for transferring funds from you're account free of charges
 Wider day time window for collections / payments
 Cuts across Inter Bank and Clearing House settlement Issues
 You can receive / transfer funds from any of our Branches
 CUSTOMERS NOT MAINTAINING ACCOUNT WITH OUR BANK
can avail this facility up to Rs.50,000/- from any of our Brancheso CREDIT
CARD PAYMENTS can be made through NEFT from any of our
Brancheso NEPALESE CITIZENS can now send money home easily through
NEFT - either as a walk-in customer OR as an account holder up to
Rs.50,000/-

Advantages:
 Reduced operational risk of fraud and loss of cheque
 Eliminates problem of debtors delaying their payments
 No longer the customer have to rely demand draft (DD) / cheque
 No more the anxious wait for a week or a fortnight, wondering if the
instrument reached safely and was duly realized.
 Debtor will no longer be able to enjoy the kind of "float" he did by
deliberately giving an outstation cheque
 Debtor will not be able to fob off with a cheque and then give "stop
payment" instructions to his bank.
 No courier / postal chargeso NEFT charges are very nominal i.e. flat
Rs.50/- + service tax

Timings and Fees:

 Week Days (Monday – Friday) 09:00am to 17:00Hrs(RBI Cut-off

Time) 09:00am to 16:30Hrs(Our Bank Cut-off Time)
 Saturdays 09:00am to 12:00Hrs(RBI Cut-off
Time) 09:00am to 11:30Hrs(Our Bank Cut-off Time)
 Note:NEFT Payments shall be settled in 6 batches viz., - 0900, 1100, 1200,
1300, 1500 & 1700 on Weekdays and 3 batches on Saturdays at 0900, 1100
& 1200 as prescribed by RBI .
 Fees:
Outward - Flat Rs.50/- + Applicable Service Tax
Outward - Free through Mi@bank
Inward - Free

Procedure:

 Please fill and sign the NEFT payment instruction application form
completely
and hand over to your Branch.
 Your Payment Instruction shall be the record for accuracy of the particulars
in the NEFT Payment Request Form
 Your Payment Instruction for execution of NEFT payment shall become
irrevocable when the Bank executes it.
 Any revocation after executing the payment by our Bank shall not be
binding on any party in the NEFT System
 On verification of completeness of the NEFT Instruction, our Branch
processes the payment.
 Payments processed will reach the beneficiary bank within the time
stipulated by RBI
 ING Vysya Bank is not responsible for any charges / commission of any
kind levied / charged by beneficiary bank for applying the funds to
beneficiary account.Funds shall be applied / returned on the same day for
batches received up to 13:00 hours.o Funds shall be applied / returned on
the next working day for batches received after 13:00.Please note, actual
time taken to credit the beneficiary account depends on the time taken by the
beneficiary bank to process the payment.In case of NEFT receipts, please
provide your 12 digit a/c number and the title as it appears in your account
statement / cheque book and IFSC Code (printed on your cheque book) to
remitter to avoid returns / delay in credit .
 CREDIT AND DEBIT CARDS
ING Gold Credit Card
We understand that most of your purchases happen during the weekend. And
therefore we have a credit card that gives you twice the reward Points for your
weekend spree at an attractive rate of 2.75% per month on the revolving
amount.

Besides the convenience of being linked to your savings account, the Gold card
also comes with power packed features.

Best reward points in its class

 1 reward point for every Rs 150 spent during weekdays
 Double the reward points for spends on the weekend
 Double the reward points for international spends
 Redeem your points online or at premium outlets like Shoppers Stop,
Landmark, Westside and other selected outlets

ING Debit Card

ING offers to you safe, secure and easy payments through the ING Debit
Cards. Now say goodbye to your ATM cards and use the ING International
Debit Card powered by Maestro which can be used at any bank ATM and over
10 million retail outlets worldwide.

What's more shop using the ING Debit Card to get a host of benefits and
features which makes shopping a pleasure.
The Terms & Conditions mentioned herein below are to be read and
understood in conjunction with the Cardmember Terms and Conditions as
communicated on www.ingvysyabank.com. In the event of conflict between
any of these Terms & Conditions and the Cardmember Terms and Conditions,
the Cardmember Terms and Conditions shall prevail, unless otherwise
specified hereunder.
The ING Vysya Credit card programme is a program jointly formulated by
ING Vysya Bank Limited (hereinafter referred to as "ING Vysya") and
Citibank N.A (hereinafter referred to as "Citibank") for issue of Credit Cards to
the customers of ING Vysya. The credit cards are issued by Citibank pursuant
to an agreement entered into between Citibank and ING Vysya. By virtue of
this Agreement, Citibank will manage issuance, operations, service and
recovery of dues, while sourcing of applications from prospective
cardmembers and marketing of the Credit Card may be carried out either by
ING Vysya and Citibank jointly or independently in accordance with the terms
and conditions agreed mutually between ING Vysya and Citibank under the
said agreement."

Mobile Banking

With the easy to use mobile banking application, you are always in control of
your money!
The state of the art mobile banking software can be installed on your handset*
to give you
instant access. Further, a 6 digit PIN based system with end to end Verisign
encryption makes it
virtually tamper proof!

All you need is a compatible handset, a GPRS connection and you are ready to
start!
"Customer” shall mean a customer of ING Vysya or of an Affiliate or
any person who has applied for any product/service of ING Vysya.
"ING Vysya " shall mean ING Vysya Bank Limited, a company
incorporated under the Companies Act 1956 and licensed as a bank
under Banking Regulation Act, 1949 having its registered office at
ING Vysya Bank house, 22 M.G Road, Bangalore 560005.
"Facility" shall mean Mobile Banking facility (which provides the
Customers, Services such as information relating to Account(s),
details about transactions and such other services as may be provided
on the Mobile Phone Number by ING Vysya from time to time.
"Mobile Phone Number" shall mean the number specified by the
Customer to ING Vysya and is on ING Vysya's record either through
mi-b@nk ( link to : mailto:mi-b@nk ) (Internet Banking), through the
Phone Banking or in writing either through any Form provided by ING
Vysya .
“Mobile Banking Activation Code” shall mean the activation code
provided to the Customer in a PIN Mailer for activation of Mobile
Banking Facility.
Terms & Conditions Governing the
use of ING Mobile Banking Facility
of ING Vysya Bank Ltd.
Definitions
In this document the following words and phrases have
the meaning set below unless the context indicates
otherwise:
"Accounts" shall mean bank account and/or credit card account and
/or any other type of account so maintained by the Customer with
ING Vysya or any of its Affiliate which is eligible for the Facility being
offered (each an "Account" and collectively "Accounts")
“Mobile Banking PIN” shall mean a Self created login PIN which
would be used by the Customer in order to log on to Mobile Banking
Application once it is activated.
"Personal Information" shall mean the information about the
Customer obtained in connection with the Facility.
"Website" refers to www.ingvysyabank.com or any other website
as may be notified by ING Vysya from time to time.
By using this Facility, the Customer shall be deemed to
have accepted the Terms and Conditions mentioned
herein, subject to their modification from time to time.
 CLEARING HOUSE
Introduction
A Merchant or a purchaser when he makes a purchase would draw a cheque in
payment of the goods purchased or services availed of. This would then be
givne to the vender who would take it to the banker on whom it was drawn and
collect the monies due tohim. As trade developed and individuals began to sell
goods in different cities, in other countries, in multiple curriencies, it was no
longer feasible for the individual sellers to go from one bank to another to
collect hteir dues it was this that resulted in the bith of clearing and clearing
houses.

Meaning of clearing house.

A clearing house may be defined as an organization of various banks
constituted for the purpose of offsetting interbank indebtness arising from the
transfer of deposits by a customer of a particular bank to another bank.

TYPES OF CLEARING
1. OUTWARD CLEARING
2. INWARD CLEARING
3. RETURN CLEARING

Objectives of clearing
1. To make arrangements for the speedy and economic collections of
cheques, bills and other documents, payable of deliverable at our offices
of the members and sub members of the clearing house.
2. To make arrangements and frame rules relating to the collection or non
collections of documents between members and submembers of the
clearing house.
3. To maintain the records of the clearing house
4. To draw up and prescribe from time to time forms for the use of the
members and sub members of the house in connection with the clearing .
5. To do all such other lawful things as are incidental are conductive to the
attainment of all or any of the foregoing objects.

MICR Clearing “Magnetic ink Character Recognition

clearing “
This is one of the automated clearing system used by banks under this
system specific type of paper is used for printing the cheques. The
machine with sophisticated software engaged for the purpose captures
the image of the cheque and enables the automated clearing functions
while the RBI at the start facilitated the function, It has now given the
responsibility to under take MICR on its behalf to leading banks of the
country which are capable of demonstrating the clearing functions at
certain centers.
Clearing houses in India.
1. In India clearing houses were presided over the Imperial
bank of India {SBI} until 1935
2. The RBI when constituted in 1935 took over the clearing
house function.
3. There are presently 1047 clearing houses in India with 42
clearing houses having MICR capability.
4. Clearing houses are autonomous institutions having their
own rules regarding the conduct of operations.