i. The State Bank of Pakistan, Karachi, Lahore,
Peshawar, Rawalpindi, Islamabad, Quetta, Faisalabad and Hyderabad will effect the under noted drawings on treasury agencies :--
1. Telegraphic transfers. -,
2. State Bank drafts.
3. Telegraphic transfers and drafts for scheduled banks.
4. Telegraphic transfers and drafts for indigenous bankers, non-Scheduled Banks, Co-operative Banks and Societies.
5. State Bank Government Drafts for the remittance of interest on securities held on account of Government Servants, at par.
6. Dividend warrant payment orders for the remittance of the bank's dividend to shareholders resident in districts where adequate banking facilities do not exist, at par.
7. State Bank "Government" drafts.
ii. The National Bank of Pakistan at all branches in Pakistan will effect the under-noted drawing on Treasury Agencies :-
1. Telegraphic Transfers.
2. State Bank drafts.
3. Telegraphic Transfers and drafts for scheduled banks.
4. Telegraphic Transfers and drafts for indigenous bankers, Non-Scheduled Banks and Co-operative Societies.
iii. The National Bank of Pakistan at all branches in Pakistan except Karachi, Lahore, Peshawar, Rawalpindi, Islamabad, Quetta, Faisalabad and Hyderabad will effect the under-noted drawing on Treasury Agencies :—
State Banks Government Drafts.
iv. Officers in charge of treasury agencies will effect the under-noted drawing on-
a) The State Bank of Pakistan, Karachi, Lahore, Peshawar, Rawalpindi, Islamabad, Quetta, Faisalabad and Hyderabad -
1. Telegraphic Transfers.
2. State Bank Drafts.
3. Telegraphic transfers and drafts for scheduled banks. '
4. Telegraphic transfers and drafts for indigenous bankers, non-Scheduled Banks, Co-operative Banks and Societies.
5. State Bank "Government" Drafts.
b) The National Bank of Pakistan at all branches except Karachi, Lahore, Peshawar, Rawalpindi, Islamabad, Quetta, Faisalabad and Hyderabad.
1. State Bank of Government Drafts.
2. Telegraphic Transfers.
3. State Bank drafts.
4. Telegraphic Transfers and drafts for scheduled banks.
5. Telegraphic Transfers and drafts for indigenous bankers, Non-Scheduled Banks, Co-operative Banks and Societies.
c) Treasury agencies-
1. Telegraphic transfers.
2. State Bank drafts.
3. Telegraphic transfers and drafts for scheduled banks.
4. Telegraphic transfers and drafts for indigenous bankers, Non-Scheduled Banks, Co-operative Banks and Societies.
5. State Bank "Government" drafts.
Issue of Government drafts by the offices of the State Bank of Pakistan and offices and branches of the National Bank of Pakistan in Pakistan on the offices and
i. State Bank "Government" drafts :-- These will be drawn by the State Bank of Pakistan on-
a) State Bank of Pakistan, Karachi, Peshawar, Lahore, Rawalpindi, Islamabad, Quetta, Faisalabad and Hyderabad.
b) National Bank of Pakistan at all branches except Karachi, Lahore, Peshawar, Rawalpindi, Islamabad, Quetta, Faisalabad, and Hyderabad. ii. National Bank Government drafts :-
These will be drawn by the National Bank of Pakistan at
i. all branches in Pakistan except Karachi, Lahore, Peshawar, Rawalpindi, Islamabad, Quetta, Faisalabad and Hyderabad on the National Bank of Pakistan at all branches.
Limits to drawings.
i. Telegraphic transfers, bank draft and Government drafts drawn by and on offices of the State Bank and offices and branches of the National Bank having Currency Chest facilities may be issued without restriction as to amount. The term "branches of the National Bank" includes "Sub-branches".
ii. The limits laid down for drawing on treasury agencies may not be exceeded without the express sanction of the Currency Officers of the area in which the drawing office is situated.
iii. Drawings will not be subject to any minimum except in the case of Government drafts, which wilt be for a minimum amount of Rs. 25.00 except in special circumstances,—vide Rule 11.11.
Rates of Exchange
In respect of drawings mentioned below exchange will be charged at the rates given against them. In the case of drawings mentioned in clause I, offices and branches of the National Bank will have discretion to sell at lower rates to the Public but treasury agencies will invariably charge full rates:-
1. Rates for telegraphic transfers and bank drafts :-
a) for general public :-
Up to Rs. 5,000.00 Re. 00.06 per cent. (Minimum exchange :-
telegraphic transfers Rs. 1.00
Drafts Rs. 0.25)
(Minimum exchange both for telegraphic transfers and bank drafts Rs. 3.12). Actual telegram charges will be recovered in addition,
b) For scheduled banks in respect of telegraphic transfers and drafts in favour of third parties. Upto Rs. 5,000.00 Re. 00.06 per cent
(Minimum exchange Re. 1.00). Over Rs. 5,000.00 Re. 00.03 per cent (Minimum exchange Re. 3.12).
Actual telegram charges will be recovered in addition.
1. A list of the scheduled banks eligible for confessional rates is given at the end of this Annexure.
NOTE.—There is no objection to a scheduled Bank applying for a small drafts on the same terms as are available to the general public, namely Re. 00.06 per cent, minimum Re. 0.25. The minimum of Re. 1.00 only applies to the special Scheduled Bank rate of Re. 00.03 per cent. For example, on remittances up to Rs. 800.00 exchange at the rate of Re. 00.60 per cent, minimum Re. 0.25 would be charged and remittances over Rs. 800.00 would be charged at the rate of Re. 00.03 per cent, minimum Re. 1.00.
c) For indigenous bankers, non-scheduled banks, co- operative banks and societies and other approved banks :-
Upto Rs. 5,000.00 Re. 00.06 per cent
(Minimum exchange Re. 1.00). Over Rs. 5,000.00 Re. 00.03 per cent
(Minimum exchange Rs. 3.12). Actual telegram charges will be recovered in addition.
For co-operative banks and societies minimum exchange on Drafts and mail transfers (but not for Telegraphic Transfers) for amount upto Rs. 5,000.00 will be Re. 0.25 only).
These concessions rates will be granted only to -
c) For indigenous bankers, i.e., banks and firms recommended by Government and included in the approved list of indigenous bankers kept by the State Bank. The list will be circulated by the State Bank to all its offices and offices and branches of the National Bank and all treasury agencies for guidance.
NOTE.---The conditions prescribed by the State Bank for fulfillment before a banker can be brought on the approved list of and the detailed procedure to be followed have been given in Appendix to this Annexure.
ii. Non-scheduled banks are admitted to the list on the conditions prescribed by the State Bank. The Bank will, with the approval of the Government, draw up a list of non-scheduled banks which will be circulated to all offices of the State Bank and offices and branches of the National Bank and treasury agencies for guidance. Co-operative banks and societies formed and functioning under the Co-operative Societies Act, II of 1912, or any other Co-operative Societies Act for the time being in force in the Province.
NOTE.---The transactions on account of remittances to co-operative societies and co-operative banks from (1) a district treasury to its sub- treasuries and vice versa and (2) between a sub-treasury and another in the same district will also be effected through bank drafts.
d) For local funds (both intra-provincial and extra- provincial remittances) with the exception of intra- provincial remittances granted at par by Government under the Rule 11.22 :-
Upto Rs. 5,000.00 Re. 00.06 per cent
(Minimum exchange for telegraphic transfers Rs. 1.00 and for drafts Rs. 0.25).
Over Rs. 5,000.00 Re. 00.03 per cent
(Minimum exchange Rs. 3.12). II. Rates for Government Drafts :-
a) Intra-provincial transfers ...At par. b) Extra-provincial transfers :-
Upto Rs. 5,000.00 Re. 00.03 per cent
(Minimum exchange Re. 0.25). Over Rs. 5,000.00 Re. 00.02 per cent
(Minimum exchange Re. 1.50).
Extra-Provincial remittances by Telegraphic Transfer will be charged at the following rates:-
Upto Rs. 5,000.00 Re. 00.03 per cent (Minimum Rs. 1.00). Over Rs. 5,000.00 Re. 00.02 per cent
(Minimum Rs. 1.50).