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CURR.06   ---   Universal Banking

Section   1   :   Preamble
  This Act is to clear the foreign debt.

Section   2   : Universal Banking
2.1 [Procedue for SBI Chairman] The SBI Chairman will ensure that every town/tahsil above the population of 10000 has at least one SBI branch which supports checking, issuing draft drafts and issuing charge cards.
2.2 [Procedue for SBI Branch Manager] The SBI Manager will allow any citizen, with ID issued by Income Tax Dept, to open an account.
2.3 [Instruction to SBI Branch Manager] The account number will be same as the ID.
2.4 Each citizen can have atmost one BASIC ACCOUNT in any branch of SBI. In this Basic Account, CRR will be 100% and interest will be 0%. There will be no minimum balance requirement and no monthly fee. There will no charge for depositing any number of checks, no fee for upto 5 withdrawals a month, and no fee for writinh upto 20 checks per month.
2.5 [Procedue for SBI Branch Manager] In an individual has more than one account in SBI branches in India, or for the joint accounts i.e. accounts held by more than one individuals, or accounts held by non-individual entities like HUF, companies, associations, trusts etc, the SBI Branch Manager will charge a monthly fee, some fees for checks, withdrawals, depoists, issuance of drafts etc as per the rates decided by the SBI Chairman.
2.6 [Procedue for SBI Branch Manager] The SBI Manager will NOT charge for clearing depositing an SBI check. The SBI Manager willl charge a fee when a non-SBI check is deposited in the account.
2.7 [Instructions to ALL Central, State and District Govt officers] The Govt officers will issue and accept ONLY SBI checks.
2.8 [Procedue for SBI Manager] The SBI branch at the time of issuing checkbook, will print the account number and check-issue date on the checks. An SBI Branch will accept this check for clearance ONLY for 6 months after they were issued i.e. date when the check was written should be within 6 months after checkbook was issued.
2.9 [Procedue for SBI Manager] Say a person who has an account at an SBI branch, writes a check and he shifts his account to another SBI branch before the check was cleared. Then the second branch will honor the check written by the person in the checkbook issued by the first branch.
2.10 [Procedue for SBI Manager] When A writes an SBI check to a B, and B deposits in his SBI branch, B's SBI branch will send a memo to A's branch, and memo will mention the income tax ID i.e. account number of B.
2.11 [Procedue for SBI Manager] To open the account of a child below 18, signature of BOTH parents will be needed. In absence of parents, the gaurdian approved the District Chief Judge will sign.
2.12 [Procedue for SBI Chairman] The Chairman may make other facilities available such as charge card, obtaining statements and notifications by email and SMS, etc. The Chairman will decide the charges.
2.13 [Procedue for Finance Minister, MPs] The Finance Minister and MPs will allocate the budgetary support to the SBI Chairman and Branch Managers needed to run SBI branches.

Section   3   : Other Details
3.1 The Jurors will judge this Act, guidelines, intentions as well as the facts related to the case

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