Government Business Department was created in July 2005 as an independent department at Head Office for providing marketing, educational and technological support to operational functionaries with a view to improve upon market share in Govt. Business.
The Bank was authorized, for the first time, for collection of C/Excise duties and Service Tax through 25 branches in Chandigarh Commissionerate and 15 branches in Rohtak Commissionerate, spread over Chandigarh, Patiala, Haryana and Delhi Zonal Offices. The EASIEST project was launched in the Bank w.e.f. 01.10.2006 and for State Govt. receipt/payment business at 97 branches for collecting 10% VAT as Municipal Fund for the state of Punjab, Haryana and Himachal Pradesh(58 Punjab30 Haryana.9 HP) was secured.
EASIEST project was launched at 40 branches collecting CBEC revenue w.e.f. 01.10.2006.
VAT collection business on behalf of Punjab Govt. is being conducted at 58 branches conducting GB for State Govt.
The Government Business Department (GBD) oversees the handling of government business undertaken by our branches as sub-agent of Reserve Bank of India. It is a co-ordinating agency between the branches dealing in Central / State Government transactions and Reserve Bank of India, CAS, Nagpur, on the one hand and Accounting Authorities of Department of Central / State Government on the other.
All authorised dealing/receiving branches report their state/Central Government transactions on a daily basis to their respective focal/nodal/link branches by way of electronic strings / FAX who consolidate and report to link office Nagpur The main function of Link office Nagpur is to settle Central Government transactions reported by nodal/focal/link branches with RBI, CAS, Nagpur.
Central Government transactions
All Central Government transactions are under Focal Point /Link Branch system. Under the Focal Point system, the branches dealing in Government transactions report their transactions to the respective Focal Point Branches. Focal Point Branches have been identified at a centre where Pay & Accounts Office (PAO) of the concerned Ministry/Department is established. All the branches handling the transactions of a particular PAO report their transactions to the identified Focal Point Branch for that PAO. These Focal
CENTRALISED PENSION PROCESSING CENTER (CPPC)
The State Bank of Patiala has centralised the payment of pension across all CBS Branches. This has been possible with the creation of a Centralised Pension Processing Cell (CPPC) at Patiala to calculate, at a centralised level, the amount of pension payable to all pensioners drawing their pension from State Bank of Patiala.
The CPPC credits pension to individual customer accounts through Link/Focal Point Branches/Branches through ftp. if all formalities, and obtention of mandatory certificates such as life certificate, non-employment certificate are complete.
All changes in Pension payment parameters including arrears of DA etc are also done centrally and arrears calculated by the CPPC.
Timely and accurate payment of pension is assured.
SIGNIFICANT BENEFITS ARE AVAILABLE TO THE PENSIONER
All processes are automated, and the pensioner gets timely and accurate payment of pension within the time specified by the Government (e.g., first date of the month for State Govt. pensioners).
Delays on account of de-centralisation due to delays in receipt of instructions from the Pension Paying Authority on D.A revision, payment and /or restoration of commutation etc. and in calculation thereof are now eliminated.
(FAQ) CENTRALISED PENSION PROCESSING CENTER
1. Can any pensioner draw his/her pension from SBP? Ans: Yes, a pensioner can draw his/her pension from a SBP branch if he/ she is a Central/State Govt. employee or Autonomous body which has arrangement for pension payment with our Bank.
2. What should a retiring person do to draw his/her pension from a SBP branch? Ans: The retiring person should open an account with a SBP branch and advise this account number and branch to the concerned Pension Sanctioning Authority for release of his/her pension.
3. What should a retiring person, who already draws his/ her pension from a branch of another Bank, do to draw pension from a SBP branch? Ans: The pensioner should open an account with a convenient SBP Branch and request his/ her existing banker to send the pension papers to the SBP branch through the Govt. authorities.
4. What types of pensions are handled by CPPC? Ans: All type of pensions - Central Govt., State Govt. etc., which involve processing, payment and maintenance of PPOs at branch level are handled by CPPC. Payment of pension in respect of specific autonomous bodies is also handled, where specifically agreed.
5. Where will the Pensioner open his/her pension account? Ans: The pensioner will open his/her SB/CA account at the branch of his/ her choice/ convenience (Home Branch) as hitherto.
6. Which office/ branch will the pensioner approach to complete formalities connected with commencement of his/her pension? Ans: The pensioner will continue to complete all the pension related formalities such as submission of mandatory undertakings for recovery of overpayment etc at his/her Home Branch.
7. When will the payment of pension commence in case of new PPOs? Ans: The payment of pension, in respect of PPOs received at Focal Point Branch up to one week before last date of a month, will normally commence from the same month.
8. When will the arrears get paid? Ans: Payment of arrears, on account of revision of pension etc., received at CPPC up to one week before last date of a month, will normally be made along with monthly pension.
9. When should life certificate be submitted? Ans: As per Govt. instructions, life certificate, duly witnessed, should be submitted to the Pension Paying Branch in November each year.
10.What will happen if life certificate is not submitted in the month of November? Ans: If life certificate is not submitted in the month of November of a year, payment of pension for November and onwards is not be paid to the pensioner, in accordance with the instructions of the Govt..
11. If life certificate is submitted in a subsequent month, when will pension for November and onwards get paid? Ans: Once life certificate is keyed in the Pension System, pension will get paid within a week’s status.
12. If the pensioner has a query or requires clarification on the amount of pension paid, what should he/she do? Ans: The pensioner should approach the Pension Paying Branch CPPC Patiala for resolution and help. The Pension Paying Branch will attend to it, with on-line help from the CPPC.
13. If the pensioner wants details of pension paid during a financial year or Pension Payment Slip, whom should he/she approach? Ans: These details for a year would be provided to the Pensioner by the Pension Paying Branch by obtaining the details from the CPPC Patiala.
14. Where should the pensioner submit his/her life certificate? Ans: The pensioner should submit his/her life certificate at his/her Pension Payment Branch Branch only.
15. Where should a pensioner submit details of investment for claiming relief from Income Tax? Ans: The pensioner should submit these details at the Pension Paying Branch. The certificate giving details of Income Tax deducted from pension will also be issued by the Pension Paying Branch only.
16. In case of Family Pension, which office should the dependants approach? Ans: The Home Branch through which pension had been paid to the pensioner will be the contact point in the case of Family Pension also.
17. Which office will the customer approach for grievance resolution? Ans: The pensioner’s grievance will be resolved at the Pension paying Branch. On-line help from CPPC will be available to the branch. The pensioner is not required to approach CPPC directly.
SBP e-tax : Online Tax
Welcome to SBP e-tax, an
online tax payment
facility that saves time
is convenient, hassle
free and paperless. It
is available on a 24x7
basis and enables you to
pay taxes online. Pay
through SBP e-tax and
relax. Here is the
For Direct Tax
payment through SBP
Step 1: Visit www.onlinesbp.com and Click on "SBP
Step 2: Select Direct
Step 3: Select Challan
Step 4: Enter Challan
Step 5: Confirm Assessee
details and Select State
Bank of Patiala.
Step 6: Log onto www.onlinesbp.co.in with Username and
Step 7: Enter tax
Step 8: Confirm payment
Step 9: Print Instant
Cyber Receipt and
For Indirect Tax
payment through SBP
e-tax (Central Excise
and Service Tax):
Step 1: Visit www.onlinesbp.co.in and click "SBP e-tax".
Step 2: Select "Indirect
Step 3: Login with
Banking Username and
Step 4: Fill the
Assessee Code provided
Step 5: Select minor
head, fill the amount of
tax/ educationcessto be
Step 6: Enter
Transaction Password &
click on Make e- cheque
Step 7: Note e-pay order
Step 8: Authorizer to
log in with Username &
Step 9: Click on View
Inbox and select Txn.
you want to authorize.
Step10: Print or save
the Instant Cyber
Receipt. Two copies of
Challan will be
delivered to your
PUBLIC PROVIDENT FUND
PUBLIC PROVIDENT FUND - 1968
Scheme introduced by Central Government in 1968. The Scheme enables the members of the public to make contributions to the Fund and obtain Income Tax rebate under the relevant provisions of the Income Tax.
Minimum / Maximum Investment
Minimum Rs.500/- per annum in multiples of Rs.5/-
Maximum Rs.1,50,000/- per annum
Can be extended for one or more blocks of 5 years
Account can be discontinued but repayment of subscriptions along with interest only after 15 years.
Rate of Interest
8.7% per annum credited in account on 31st March every year calculated on the minimum balance between 5th day and end of the month.
Loan upto 25% of balance at the end of first financial year from third to sixth year. Second loan can be taken on full payment of first loan.
Only one withdrawal allowed during any one year from sixth year. Withdrawal limited to 50% of the balance at the credit at the end of 4th year preceding the year in which the amount is withdrawn or the end of the preceding year whichever is lower.
The account extended beyond 15 years; partial withdrawal allowed up to 60% of the balance to the credit at the commencement of the extended period.
Benefit available u/s 88 of the I.T. Act.
Interest totally exempt from Income Tax.
Amount standing to the credit is fully exempted from Wealth Tax.
Subscription in one or more maximum 12 installments.
Nomination available in the name of one or more persons.
Nominee can not continue account of the deceased subscriber in his/ her own name.
An account may be transferred at the request of the subscriber free of charge by one branch of State Bank of India or its Associates to Head Post Office or vice versa.
Premature closure of a PPF account on grounds of genuine hardship could be considered only after the expiry of five years from the end of the year in which the account was opened.
The subscriber may discontinue his account anytime after joining the fund. The repayment of the subscription with interest will be made only after 15 years form the end of the financial year in which the account was opened.
Discontinued account can be revived on payment of Rs.50/- per year along with arrears of subscription of Rs.500/- per.
SENIOR CITIZENS SAVINGS SCHEME
Government of India have decided to operate the scheme through all branches of Public Sector Banks which are operating PPF Scheme, 1968.
(i) An individual who has attained the age of 60 years and above on the date of opening of an account.
(ii) who has attained the age of 55 years or more but less than 60 years and who has retired on superannuation or otherwise on the date of opening an account.
(iii) who has retired at any time before the commencement of these rules and attained the age of 55 years or more on the date of opening of an account,
(iv) The retired personnel of Defence Services (excluding civilian Defence employees) irrespective of the above age limits subject to fulfillment of other specified conditions.
NRI's are not eligible to open an account under these rules.
Hindu Undivided Family is also not eligible to open an account under these rules.
Any depositor may open an account at any deposit office by making an application in Form A alongwith the amount of deposit in multiple of one thousand rupees, along with age proof.
A depositor may operate more than one account subject to the condition that deposits in all accounts taken together shall not exceed the maximum limit of Rs.15 lakh and provided that deposits by depositors shall be restricted to the retirement benefits of Rupees fifteen lakh whichever is lower.
A depositor may open the account in individual capacity or jointly with spouse.
Deposits and withdrawals
There shall be only one deposit in the account in multiple of one thousand rupees not exceeding rupees fifteen lakhs.
No withdrawal shall be permitted under these rules before the expiry of a period of five years from the date of opening of an account.
Mode of Deposit
The deposit under these rules may be made :
(a) In cash, if the amount of deposit is less than rupees one lakhs
(b) By cheque or demand draft drawn in favour of the depositor and endorsed in favour of the deposit office.
The depositor may extend the account for a further period of three years after the maturity period of five years. An application in Form B should be made within a period of one year after the date of maturity period.
Interest on Deposit
The deposit made under these rules shall bear interest @ 9 % p.a. from the date of deposit payable at the end of each calendar quarter e.g. 31st March / 30th June / 30th September / 31st December.
The depositor may nominate a person or persons, at the time of opening of the account or at any time after the opening of the account but before its closure, by an application on Form C accompanied by the passbook to the Branch.
Nomination made by the depositor can be cancelled or varied.
Closure of Account
The deposit made at the time of opening of account shall be paid by the concerned deposit office after the expiry of five years from the date of opening of the account on production of the passbook accompanied by a written application (withdrawal form) Form E.
In case the depositor does not close the account on maturity and also does not extend the account, the account will be treated as matured and the depositor will be entitled to interest at the rate applicable to the deposits under post office savings account during the post maturity period.
Death of the depositor
In case of death of the depositor before maturity the account shall be closed and deposit refunded on application in Form F along with interest to the nominee or legal heirs in case the nominee has also expired or nomination was not made as per rules.
If the total amount including interest payable is upto rupees one lakh it may be paid to the legal heirs on production of (i) letter of indemnity (ii) an affidavit (iii) a letter of disclaimer on affidavit (iv) a certificate of death of the depositor on stamped paper in the form as in Annexure to Form F.
Premature closure of Account
On an application in Form E the depositor may be permitted to withdraw the deposit and close the account at any time after the expiry of one year from the date of opening of the account subject to the following conditions :-
(a) In case the account is closed after the expiry of one year but before the expiry of two years from the date of opening of the account, an amount equal to one and half percent of the deposit shall be deducted and the balance paid to the depositor.
(b) In case the account is closed on or after the expiry of two years from the date of opening of the account, an amount equal to one percent of the deposit shall be deducted and balance paid to the depositor.
Transfer of Account
A depositor may apply on Form G for transfer of his account from one deposit office to another in case of change of residence.