Indus LBO

    The Bank also offers its customised Cash Management Services and Account Management Services to suit the client requirements of Govt. Departments or Organisations.

    Cash Management Services for Govt. Organisations or Departments
    The services under Cash Management is broadly as under:

    • Local Cheque or Upcountry Cheque or Cash Collection Services
    • Collection of Govt. Utility Bills viz. Municipal Taxes or Fees, Electricity Bills, etc. through various offline and online modes
    • Collecting or Payee Banker for Bonds Issue Programme
    • Payment Services - Interest Warrant, Dividend Warrant, Customer Cheque, Remote Demand Drafts, ECS, NEFT, RTGS, Single Window Payment Facility

    Account Management Services for Govt. Organisations or Departments
    Under Account Management Services, the Bank has special current and savings account products catering to all the transactional banking requirements of Govt. Organisations. The Account comes with a host of facilities and services including:

    • Savings interest rate of 5.5% pa for Daily Balances upto Rs.1 lac, and 6% pa for Daily Balances above Rs.1lac.
    • Anywhere Banking Facility at all Indusind Bank Locations
    • At-par Payable Cheque Facility
    • Instant Online Funds Transfer Facility to Indusind Bank Beneficiary Accounts
    • Local and Outstation Cheque Collection Facility
    • Daily Account Statement through e-mails
    • Internet Banking Facility

    The Bank also provides its services to Govt. Departments or Organisations towards opening of LCs for import or export transactions, Forex requirement, opening of Salary Accounts and catering to credit requirements as well.

Features

    Account management services for Govt. Organizations :
    • Payment Services
    • Collection services
    • Anywhere Banking services at all IBL locations.
    • Collection of Govt. utility bills, municipal taxes or fees, electricity bills, application monies etc. through various offline and online modes.
    • Collecting or Payee Banker for Bonds Issue programme.
    • Interest Warrant, Dividend warrant, customer cheque, remote demand drafts, ECS, NEFT, RTGS.
    • Opening LCs for import or export transactions, and foreign remittances.
    • Salary accounts of employees
    • Credit requirements.

Facilities

    • At par cheque payable facility
    • Instant online funds transfer facility to IBL beneficiary accounts.
    • Local and outstation cheques collection facility.
    • Online facilities for RTGS/ NEFT/ internal accounts transfer  .
    • Bulk cheque printing facility for vendors or other payments.
    • Competitive conversion rates for foreign currency.
    • No minimum balance stipulation.
    • Time bound guaranteed credit on local collections at over 250 locations and over 1000 outstation locations.
    • Strong doorstep banking with cash and cheque pick-up and delivery facilities.
    • Dedicated Relationship Managers.
    • Daily account statement through emails.

Documentation

    Mandatory Documents:
    • Certified copy of notification/ order authorizing opening of account.
    • Attested specimen signature of persons authorized to operate the account.
    • Photograph of Authorized Signatories
    • Proof of Identity of the Authorized Signatories.
    • Proof of Communication Address of the Government Department


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IBL Registration Number NSE: INE231308847
MCX Stock Exchange Limited: INE261314434 for dealing in currency derivatives segment