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| Features |
Cash Management Product (CMP) |
| Eligibility |
All Companies who wish to pay Dividends to their investors |
| Scheme details |
- The company enters into an MOU with the Bank, specifying details of terms and conditions
- It opens Current Account "Dividend Warrant A/c"
- Deposits total amount of dividend payable into this A/c
- Co. gives a list of DW containing all details like DW No., amount, beneficiary name and a/c no. , date of payment of Warrants etc
- The paying branches pay the DW on presentation through respective menu option
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| Benefits of the Scheme |
- DW payable at par at all branches
- Built in security features, as the system validates DW No. & amount at the time of payment
- Manual intervention for reconciliation of account is not required
- Company can access details of paid Warrants through statement of account / Corporate Internet Banking facility
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| ©2008 State Bank of Hyderabad.
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