We are licensed by SEBI as Depository Participant of the Central Depository Services(India) Ltd., Mumbai and have started fucntioning as DP since March 18,2006. we undertake all the functions as DP. i.e Demat A/c opening, Demateriation of shares etc. at minimum charges.

For Demat related greivances feel free to mail us on : depository@mscbank.com

In the declining bank rate scenario, Treasury Department of our bank is playing vital role in profitability of the Bank. This department is engaged in trading of Government Securities with the well-equipped dealing room & ultra modern facilities and earned remarkable trading profit. Encouraged by the above development many State/District and Urban Co-op banks started purchase and sale of Government securities by opening Constituents Subsidiaries General Ledger (CSGL) Account with the Bank. This department also gives the facility of custodian services.

Should you require any information or have queries please feel free to contact:

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Our bank has 32 branches, with two extension counters and 43 submember banks (with about 200 branches) within the area of Mumbai Clearing.

• MICR Clearing :- Cheques deposited upto 4 p.m. drawn on banks in Mumbai Clearing area are lodged for same day’s clearance and the credit is effected on the next working day.
• High Value Clearing :- Cheques of Rs. 1 lakh and above, drawn on banks/branches in fort area and some designated high value assigned branches of member banks are presented through this clearing. Cheques for this clearing are accepted upto 11.30 a.m.
  This clearing facilitates same day credit to customer's account. This clearing takes place on all working days except Saturday.
• Electronic Clearing Service (E.C.S.) :- Transactions received through this clearing are credited/debited to customer's account on day of settlement only.
• National Electronic Funds Transfer (N.E.F.T.) :- Customer can remit the amount upto Rs. 2 crore from NEFT enabled bank/branch to any other NEFT enabled bank/branch within India.
  The beneficiary’s account is credited within 24 hours.
• Intercity Clearing :-There are ten two way intercity centers i.e. Mumbai, New Delhi, Kolkatta, Chennai, Bangalore, Hyderabad, Ahmedabad, Jaipur, Bhopal & Nagpur. Cheques drawn on banks/branches in any of these cities are presented through this clearing.
  Cheques are realized after a week and no commission is charged for this collection.
  

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Facilities of Remittances & transfer of funds are provided to customer of Banks.

Commission Rates for Demand Drafts/Mail Transfer/Telegraphic Transfer Effictive from 15/02/08.

RTGS

The bank was quick to adopt the RBI initiated RTGS scheme from 3rd December 2004. Thereby MSCB became the first apex co-op bank in India to implement the scheme. This schem helps speedy interbank transactions at reasonable rates.

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You need expeditious transfer of funds of your inward remittances and since we have correspondent relations with renowned banks, we shall be of great help to you.

Foreign Clean Collection Cheques:
Proceeds of clean collection instruments shall be credited to your account within minimum period.

Foreign Cash and Traveller Cheques:
Your foreign cash and travellers' cheque requirement in USD, GBP & Euro shall be met with and encashment of foreign cash and TCs shall be done speedily.

We have correspondent relations with 32 banks in 16 countries almost in any part of the globe. You can avail of this facility to fulfill your export-import potentials to the fullest extent.

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You need exchange for travel abroad for various purposes, we are here to release USD, GBP, EURO subject to Reserve Bank Guidelines for your proposed travel. Here are a few such travels:
Medical treatment / Check-up / Consultation abroad / Studies abroad / Private visits or many other purposes.

You may have transaction on hand to remit funds in advance where no importation of goods is involved e.g.
1. Engagement of foreign nationals.
2. Consultancy services
3. Charges for advertisement in overseas newspapers / periodicals.
4. Specialised Training.
5. Payment of University courses fees abroad, etc.

We shall help you in fulfilling your obligation of payment in advance under the contract / agreement as per limits specified by Reserve Bank.

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MSCB issues performance guarantee on behalf of an exporter to overseas buyer in case of bonafide exports, provided the bank is satisfied about bonafides of an exporter and his ability to perform the contract. The value of the bid shall be reasonable according to the international trade practice and within the regulatory framework.

Payment of Agency Commission
We remit commission to overseas agents in accordance with R.B.I directive on account of export bill realised.

Exchange Earners Foreign Currency (EEFC)
As an exporter and any exchange earner, you can open and maintain foreign currency account for meeting specific obligation and credit to such account amounts not exceeding 50% of specific remittances received. 100% Export Oriented Units, Software/Hardware Technology Parks, can credit 70% of such remittances.

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As an exporter, you have to oblige your foreign counterpart with whom you might have entered into a sale contract. You may avail our services as below:

Pre-shipment / Post-shipment Export Finance Facility:
You can avail of short term working capital with a view to promote exports. The approach of the exporter should be "Purpose Oriented & Need based". The regular exporters' past performance and future potentials shall be considered while in case of new exporters, their experience in domestic market in dealing with the relative commodities and other background factors shall be considered before sanctioning the finance.

Export Finance is categorised as :-

• Pre-shipment Finance:
  This finance is extended to an exporter in anticipation of his exporting the goods and to enable the eligible exporters to procure raw materials / process / manufacture / warehouse / ship the goods meant for export. An evidence of an order for export from India having been placed with the overseas buyer is essential.
• Post-shipment Finance:
  An exporter can avail of this faciltiy from the date of extending the credit after submission of the documents till the date of realisation of export proceeds as per term of the bill.

Receiving Export Payment On Advance Basis:
If you have entered into a sale contract with foreign buyer on account of export to be made on advance payment basis, we shall receive such payments on your behalf.

Before Entering Into A Sale Contract:
We shall help you to ascertain credibility of foreign buyer through reputed agency as advised by Reserve Bank.

If You Have Entered Into A Sale Contract:

• We can disburse pre-shipment credit under D.C. / Contract, if such limit is sanctioned to you.
• We shall negotiate your bill drawn under Documentary Credit provided post-shipment credit is sanctioned to you.
• Authenticate Documentary Credit issued by banks of international repute (our correspondent banks)
• We do confirm Documentary Credit issued by our correspondent banks or any internationally reputed bank

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Issuance of Letters of Credit:
We open letter of credit in any part of the globe with the help of our corresspondent banks for import of goods.
1. Under open general category.
2. Under Special Import License or otherwise canalised.
We shall also help you to obtain status report from reputed agency to enable you to assess capacity of overseas seller / firm to oblige you.

The import of goods under following category is also undertaken by us:

• Import under collection basis.
• Advance remittance.
• Postal imports.
• Imports through courier.
• Forward exchange contract facility is also available.

External Commercial Borrowing (ECB):
The proposals from our clients for raising ECB from an internationally acceptable and / or recognised lender, such as export credit agencies, suppliers of equipments, foreign collaborators, foreign equity holders, international capital markets, reputed international banks and financial institutions etc. under automatic route arrangement shall be considered as per regulatory framework.

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