mr. mani has a current account in state bank of india. he is having many transactions of fund transfer every day. one day he asked bank manager to transfer to a client in mumbai immediately. The bank manager replied to transfer the fund immediately an amount of rs 2 lakh. identify the concept in the above case and also pls tell any other 2 methods of such transfer
Answers
Explanation:
DEFINITIONS
In these Terms of Service (Terms & Conditions), unless the context indicates otherwise, the following words and phrases shall have the meanings indicated against them:
to use Internet Banking Services.
Confidential Information refers to the information obtained by the customer through the Bank for availing various services through OnlineSBI.
Personal Information refers to the information about the User obtained by the Bank in connection with the Internet Banking Service.
Account refers to the User’s Savings and/or Current Account and/or Fixed Deposit or any other type of account so designated by the Bank to be eligible account(s) for the operations through the use of Internet Banking or Demat account opened with NSDL or CDSL.
Other Holders of Demat Account refers to such holders other than the first named holder of the Demat Account. The Internet Banking Services of the Bank for Demat Account is available to a customer who has a Demat Account and Bank Account in his name (i.e. the first holder of the Demat Account and the Bank Account to be same). The Bank reserves its rights to consider any deviation to the above at its sole discretion. The Demat Account will be attached to the UserID and will be accessible through OnlineSBI . Wherever the Demat Account is jointly held by the Customer, the Bank will construe that the other holders of the Demat Account have authorized the first holder to either query on the account or initiate transaction on the account and it will be binding on them.
Due to the fact that the Bank receives Demat Information from NSDL and CDSL, it is important to check the current position with your respective branch.
All information coming from NSDL/CDSL is provided on ‘as is’ basis without warranty of the kind. The Bank makes no representation and disclaims all express, implied and statutory warranties of any kind to the User and/or any third party including warranties as to accuracy, timelines, completeness, merchantability or fitness of the information for any particular purpose.
Future A/c. In the event of future accounts opened by the User under the same CIF, then the Terms of Service (Terms & Conditions) shall automatically apply to such further use of the Internet Banking by the User.
Accounts in the name of Minors.In case of accounts opened for and on behalf of minors, the Internet Banking facility shall not be made available to the minor. The natural guardian of the minor shall be permitted to use Internet banking with only ‘Limited Transaction’ rights. The natural guardian shall undertake to give all instructions relating to the operation of the account and further undertake not to reveal the User ID and Password to the minor, which if done so, will be at the risk and consequences of the guardian and the Bank shall not be liable for any loss on that account in case the account is operated by the minor. In such an event the transaction will be deemed to have been undertaken by the guardian.
Third party product refers to any product and/or service of third party which is offered by or through the intermediary of the Bank.
Customer refers to Customer named in the Application Form and shall, where the context requires, include any authorized representative of the Customer.
Internet Banking Services refers to a service offered by the Bank through which a registered Customer may conduct enquiries or perform transactions on the Banks website www.onlinesbi.com .
SMS Password refers to one time 8 digit pass code that would be sent to a customer’s mobile number registered on the Bank’s record.
Instruction means any request or instruction that is received from the customer by the Bank through Internet Banking services.
APPLICABILITY OF TERMS
These Terms mentioned herein form the contract between the User using the Internet Banking services and the Bank. By applying for Internet Banking Services and accessing the service the User acknowledges and accepts these Terms of Service (Terms & Conditions). Any conditions relating to the accounts of customer other than these Terms will continue to apply except that in the event of any conflict between these Terms and the account conditions, these Terms will continue to prevail. The agreement shall remain valid until it is replaced by another agreement or terminated by either party or account is closed, whichever is earlier.
Answer:
State Bank of India Logo
Terms of Service (Terms & Conditions)
service shall be advised through the web page of the Bank or written communication or any other mode as the Bank thinks fit. The Bank shall take reasonable care to, ensure the security of and prevent unauthorized access to the Internet Banking Services using technology reasonably available to the Bank. The User shall not use or permit to use Internet Banking Service or any related service for any illegal or improper purposes.