Evaluations Results Comparison

This evaluations comparison report compares baseline and current models.

Overview

Models Recommendation Summary: Baseline: 1x Tie: 0x Current: 0x

Baseline Model Current Model Recommendation
claude-3-7-sonnet-20250219@h2ogpte claude-3-7-sonnet-20250219@h2ogpte ✓ BASELINE

Method

This comparison analyzes differences between baseline model and current model evaluation results to help identify how models perform across test cases. The comparison matches test cases by their question/prompt and model key, then evaluates changes in metrics, outputs, and retrieved context.

Models Comparison: claude-3-7-sonnet-20250219@h2ogpte vs claude-3-7-sonnet-20250219@h2ogpte

Summary

✓ RECOMMENDATION: Use BASELINE model claude-3-7-sonnet-20250219@h2ogpte

The Baseline model is recommended. Baseline model won 8 more test cases using rank-based comparison (27 vs 19) • Baseline model has higher average rank (50.10 vs 48.90) • Current model has net -6 metrics flipped to failing (16 failed, 10 passed)

Details:

Models Overview

Baseline Model Current Model
Key cb0a5410-ac68-47b3-b1e6-f62256b4974c 6e61e9f3-df31-4ec8-83a9-bc0559c35595
Name RAG model - LLM: claude-3-7-sonnet-20250219, corpus: ['test-suite-sr-11-7-50p.pdf'] RAG model - LLM: claude-3-7-sonnet-20250219, corpus: ['test-suite-sr-11-7-50p.pdf']
LLM Model Name claude-3-7-sonnet-20250219 claude-3-7-sonnet-20250219
Model Type h2ogpte h2ogpte
Collection ID 450ed57a-9de3-4846-a6e4-01d8688c4ec9 1d5bd782-90b6-4697-bbb8-d1c4ca81f8e3
Collection Name Ephemeral H2O Sonar RAG collection (docs: ['test-suite-sr-11-7-50p.pdf']) Ephemeral H2O Sonar RAG collection (docs: ['test-suite-sr-11-7-50p.pdf'])
Documents Count 1 1

Models Configuration Comparison

Baseline Model Configuration Current Model Configuration Diff 
{
  "embedding_model": "BAAI/bge-large-en-v1.5"
}
Values Changed (1)
root['embedding_model'] "BAAI/bge-large-en-v1.5" → "mixedbread-ai/mxbai-embed-large-v1"

Models Comparison

Baseline Current
Test Case Ranks (49) 27 19 (-8)
Metrics Ranks (15) 50.10 48.90 (-1.19)
Test Case Wins (49) 27 19 (-8)
Metrics Wins (15) 215 171 (-44)
Flipped Test Cases (49) - 26
Flipped to Passed - 10
Flipped to Failed - 16
Empty Contexts (49) 0 1 (+1)

Legend:

  • Test Case Ranks : The number of test cases won by each model using rank-based comparison. The value in parentheses indicates the total number of comparable test cases. For each test case, metrics are ranked between baseline and current models (best performance gets rank 2, other gets rank 1), then averaged. The model with higher average rank wins that test case . Ties don't count. This provides a more nuanced comparison than simple metric wins, as it considers relative performance within each test case.
  • Metrics Ranks : Average rank of metric scores across all test cases. The value in parentheses indicates the total number of metrics. For each metric, all scores from both models are merged and ranked together, with the best performance receiving the highest rank. Higher average rank indicates better performance . This rank-based comparison method is robust to scale differences between metrics and provides an intuitive overall performance score.
  • Test Case Wins : Number of test cases won by each model based on the majority of metrics within each test case. For each test case, the model that wins more metrics (considering their directionality - higher_is_better) wins that test case. Test cases with ties are not counted.
  • Metrics Wins : Total count of individual metric comparisons won across all test cases. Each metric comparison where one model scores better than the other (considering the metric's directionality) increments that model's wins count.
  • Flipped Test Cases : Total number of test cases where at least one metric flipped from passing to failing or vice versa (based on the metric's threshold).
  • Flipped to Passed : Number of metrics that changed from failing (below threshold) in Baseline to passing (above threshold) in Current.
  • Flipped to Failed : Number of metrics that changed from passing (above threshold) in Baseline to failing (below threshold) in Current.
  • Empty Contexts : Number of test cases where the RAG system returned no retrieved context chunks.
Metric Baseline Ranks Current Ranks Baseline Wins Current Wins Baseline Avg Current Avg
recall_relevancy 51.27 47.73 (-3.53) 6 1 (-5) 0.92071869 0.90074527 (-0.01997342)
groundedness 51.22 47.78 (-3.45) 25 19 (-6) 0.89347464 0.87067188 (-0.02280276)
model_failures 50.50 48.50 (-2.00) 2 0 (-2) 0.18367347 0.22448980 (+0.04081633)
model_generation_failures 50.50 48.50 (-2.00) 2 0 (-2) 0.18367347 0.22448980 (+0.04081633)
model_passes 50.50 48.50 (-2.00) 2 0 (-2) 0.81632653 0.77551020 (-0.04081633)
min_answer_similarity 50.27 48.73 (-1.53) 21 20 (-1) 0.79111212 0.77637156 (-0.01474056)
mean_reciprocal_rank 50.00 49.00 (-1.00) 1 0 (-1) 1.00000000 0.97959184 (-0.02040816)
precision_relevancy 50.00 49.00 (-1.00) 25 22 (-3) 0.87008953 0.85213251 (-0.01795702)
answer_accuracy 49.88 49.12 (-0.76) 26 21 (-5) 0.58579577 0.58571391 (-0.00008186)
mean_answer_similarity 49.82 49.18 (-0.63) 26 23 (-3) 0.84223631 0.82634280 (-0.01589351)
rouge_2 49.38 49.62 (+0.24) 26 20 (-6) 0.11824363 0.11720785 (-0.00103577)
rouge_1 49.61 49.39 (-0.22) 26 23 (-3) 0.15306073 0.15089511 (-0.00216562)
rouge_l 49.51 49.49 (-0.02) 27 22 (-5) 0.13943045 0.13894025 (-0.00049020)
model_parse_failures 49.50 49.50 0 0 0.00000000 0.00000000
model_retrieval_failures 49.50 49.50 0 0 0.00000000 0.00000000

Legend:

  • Baseline Model Ranks : Average rank of the Baseline model for this specific metric across all test cases. For each metric, all scores from both models are merged and ranked together, with the best performance receiving the highest rank. Higher rank indicates better performance . This rank-based comparison is robust to scale differences and provides a normalized performance measure.
  • Current Model Ranks : Average rank of the Current model for this specific metric across all test cases. For each metric, all scores from both models are merged and ranked together, with the best performance receiving the highest rank. Higher rank indicates better performance . This rank-based comparison is robust to scale differences and provides a normalized performance measure.
  • Baseline Model Wins : Number of test cases where the Baseline model scored better for this specific metric (considering the metric's directionality - higher_is_better).
  • Current Model Wins : Number of test cases where the Current model scored better for this specific metric (considering the metric's directionality - higher_is_better).
  • Baseline Model Avg : Average metric score for the Baseline model across all test cases.
  • Current Model Avg : Average metric score for the Current model across all test cases. The difference from Baseline is shown inline (green for improvement, red for degradation, considering the metric's directionality).

Technical Performance Metrics

Operational performance metrics aggregated across all test cases. Lower costs and durations indicate better efficiency. Metrics include per-test-case aggregations (cost, duration) and per-model LLM statistics (tokens, request counts).

Metric Baseline Current
Total Cost (USD) $1.5115 $1.4227 ($-0.0887)
Avg Duration (s) 7.97 9.14 (+1.17s)
Min Duration (s) 6.34 5.00 (-1.34s)
Max Duration (s) 11.70 47.67 (+35.97s)
Successful Requests 50 49 (-1)
Failed Requests 0 1 (+1)
Retried Requests 0 2
Timed Out Requests 0 2
LLM Calls 104 98
Input Tokens 461,098 433,145 (-27,953)
Output Tokens 10,597 10,313 (-284)
Tokens Per Second 19.90 11.13 (-8.78)
Time To First Token (s) 1.24 1.39 (+0.15s)

Legend:

  • Total Cost (USD) : Total aggregated cost across all test cases. Lower is better.
  • Avg Duration (s) : Average request duration in seconds. Lower is better.
  • Min Duration (s) : Minimum request duration in seconds. Lower is better.
  • Max Duration (s) : Maximum request duration in seconds. Lower is better.
  • Successful Requests : Count of successfully completed LLM requests. Higher is better.
  • Failed Requests : Count of failed LLM requests. Lower is better.
  • Retried Requests : Count of requests that required retries. Displayed only when non-zero.
  • Timed Out Requests : Count of requests that exceeded timeout limits. Displayed only when non-zero.
  • LLM Calls : Total count of LLM API calls made. Displayed only when non-zero.
  • Input Tokens : Total input tokens sent to the LLM. Displayed only when non-zero.
  • Output Tokens : Total output tokens generated by the LLM. Displayed only when non-zero.
  • Tokens Per Second : Token generation throughput. Higher is better (faster generation).
  • Time To First Token (s) : Latency before first token is received. Lower is better (faster response initiation).

Top Test Cases by Metric Changes

Test cases sorted by the highest absolute difference between Baseline Ranks and Current Ranks . Test cases where the rank-based comparison shows the most significant difference appear first.

Rank Question Baseline Ranks Current Ranks Baseline Wins Current Wins Changed Metrics
#1 What is the time limit for a customer to contact the bank about an error or problem with a remittance transfer? 2.00 1.00 (-1.00) 13 0 (-13) 13
#2 What is the purpose of the Limitation of Bank's Liability section? 2.00 1.00 (-1.00) 10 0 (-10) 10
#3 What happens if a check is presented with insufficient funds in a Money Market Deposit Account? 1.89 1.11 (-0.78) 8 1 (-7) 9
#4 What is the minimum balance required to open a Certificate of Deposit Account for a Non-US Resident? 1.89 1.11 (-0.78) 8 1 (-7) 9
#5 Can wire transfers in dollars be sent to any bank in India? 1.12 1.88 (+0.75) 1 7 (+6) 8
#6 What is the minimum amount required to open a Certificate of Deposit (CD) Account for a Non-US Resident Consumer? 1.78 1.22 (-0.56) 7 2 (-5) 9
#7 What is the Principal Protection feature of a Senior Citizen CD? 1.67 1.33 (-0.33) 6 3 (-3) 9
#8 Can the bank provisionally credit the account for the amount thought to be in error? 1.38 1.62 (+0.25) 3 5 (+2) 8
#9 How long does the Bank have to investigate a complaint or question about a remittance transfer? 1.62 1.38 (-0.25) 5 3 (-2) 8
#10 What is the address of the State Bank of India mentioned in the document? 1.56 1.44 (-0.11) 5 4 (-1) 9

Legend:

  • Rank : Position in the leaderboard (1 = highest absolute difference between Baseline Ranks and Current Ranks).
  • Question : The test case question/prompt. Click to jump to the detailed test case comparison.
  • Baseline Ranks : Average rank of the baseline model for this specific test case. For each metric in the test case, baseline and current models are ranked (best=2, worst=1), and the average rank is calculated. Higher rank indicates better performance.
  • Current Ranks : Average rank of the current model for this specific test case. For each metric in the test case, baseline and current models are ranked (best=2, worst=1), and the average rank is calculated. Higher rank indicates better performance.
  • Baseline Wins : Number of metrics where the baseline model performed better.
  • Current Wins : Number of metrics where the current model performed better.
  • Changed Metrics : Total number of metrics with different values between baseline and current models.

Test Case

Question: What is the interest rate earned on a Senior Citizen Certificate of Deposit?

Metric Baseline Score Current Score
answer_accuracy 0.83227954 0.84216055 (+0.00988101)
groundedness 0.87925887 0.95478333 (+0.07552445)
mean_answer_similarity 0.87919718 0.88512569 (+0.00592851)
mean_reciprocal_rank 1.00000000 1.00000000
min_answer_similarity 0.83227954 0.84216055 (+0.00988101)
model_failures 0.00000000 0.00000000
model_generation_failures 0.00000000 0.00000000
model_parse_failures 0.00000000 0.00000000
model_passes 1.00000000 1.00000000
model_retrieval_failures 0.00000000 0.00000000
precision_relevancy 0.84717785 0.85063578 (+0.00345793)
recall_relevancy 0.92773033 0.92773033
rouge_1 0.23776224 0.26771654 (+0.02995430)
rouge_2 0.21276596 0.24000000 (+0.02723404)
rouge_l 0.23776224 0.26771654 (+0.02995430)

Legend:

  • Metric : The evaluation metric name. Shown in bold red if the metric flipped between pass/fail status.
  • Baseline Score : The metric value for the baseline model. Shown in bold green if baseline won, red if lost.
  • Current Score : The metric value for the current model, followed by the delta from baseline in parentheses.
  • Delta Colors : Green = improvement, Orange = regression, Red = metric flipped to fail.
  • Winner Determination : For each metric, the winner is determined by comparing scores while considering the metric's directionality (higher is better vs. lower is better).
Baseline Result Current Result
Model claude-3-7-sonnet-20250219@h2ogpte claude-3-7-sonnet-20250219@h2ogpte
Question What is the interest rate earned on a Senior Citizen Certificate of Deposit?
Expected answer A fixed rate for the term of the CD, determined by the Bank based on market conditions
Actual Answer According to the document, the interest rate earned on a Senior Citizen Certificate of Deposit is a fixed rate for the term of the CD. As stated on page 15 of the Customer Manual for Deposits: "The interest rate earned on a Senior Citizen Certificate of Deposit will earn fixed rate for the term of the CD. This rate is determined by the Bank, based on market conditions, at the time the account is opened or renewed." The document also mentions that for current rate information, customers may visit the bank's website at https://sbinewyork.statebank or call (212) 521-3390. The specific interest rate is not provided in the document as it varies based on market conditions at the time of opening or renewal. According to the document, the interest rate earned on a Senior Citizen Certificate of Deposit will be a fixed rate for the term of the CD. As stated on page 15 of the document: "The interest rate earned on a Senior Citizen Certificate of Deposit will earn fixed rate for the term of the CD. This rate is determined by the Bank, based on market conditions, at the time the account is opened or renewed." The document does not specify an exact percentage for the interest rate, but indicates that for current rate information, customers may visit the bank's website at https://sbinewyork.statebank or call (212) 521-3390.
Retrieved Context
a. Interest Rate: The interest rate earned on a Senior Citizen Certificate of Deposit will earn fixed rate for the term of the CD. This rate is determined by the Bank, based on market conditions, at the time the account is opened or renewed. For current rate information, you may visit our website https://sbinewyork.statebank or call (212) 521-3390 b. Annual Percentage Yield (APY): Senior Citizen Certificate of Deposit is offered on simple interest (also called non-cumulative interest) and compound interest (also called cumulative interest) basis, depending upon your choice. In case of simple interest, the Annual Percentage Rate(APR) and Annual Percentage Yield would be the same. In case of compound interest, APY measures the total amount of interest paid on the account in a year based on the interest rate and the frequency of compounding is quarterly. The interest is calculated on a 365 days basis. c. Compounding Period/Payment of Interest: If you choose to receive simple interest (non- cumulative) on your CD, you may opt to withdraw the interest at monthly/quarterly/half-yearly intervals, at the time of opening or renewing the CD. If you choose to receive compounded interest on your CD, interest will be compounded at quarterly intervals and will be paid along with the principal at the time of maturity.
State Bank of India New York Customer Manual for Deposits 13 4.3. CERTIFICATE OF DEPOSIT (“CD”) A CD earns a fixed rate of interest when an amount of money (principal) is left on deposit with the Bank for a fixed period (a fixed number of days, months or years). After an account is opened, you may not make deposits into or withdraw from this account until the maturity date. Premature withdrawal of principal would attract a penalty. Refer to “Penalty for Early Withdrawal of Principal” (Section f). We offer CDs with maturities from 3 months to 5 years. Bank also accepts deposit for a tenor from 7 days to 3 months on a case to case basis. a. Interest Rate: The interest rate earned on a Certificate of Deposit will be a guaranteed fixed rate for the term of the CD. This rate is determined by the Bank, based on market conditions, at the time the account is opened or renewed. Presently we are not offering floating rate Certificate of Deposits. For current rate information, you may visit our website https://sbinewyork.statebank or call 212-521-3390. b. Annual Percentage Yield (APY): Our Certificates of Deposit are offered on simple interest (also called non-cumulative interest) and compound interest (also called cumulative interest) basis, depending upon your choice. For CDs with simple interest, there will not be any difference in the interest rate (also called Annual Percentage Rate, or APR) and the Annual Percentage Yield (APY). For CDs where interest is compounded, the Annual Percentage Yield measures the total amount of interest paid on the account in a year based on the interest rate and the frequency of compounding, which is quarterly. The interest is calculated on a 365 days basis. c. Compounding Period/Payment of Interest: If you choose to receive simple interest (non- cumulative) on your CD, you may opt to withdraw the interest at monthly/quarterly/half-yearly intervals, at the time of opening or renewing the CD, provided the deposit is for one year or more. For CDs of less than six months, the simple interest is paid at maturity. If you choose to receive compounded interest on your CD, interest will be compounded at quarterly intervals and will be paid along with the principal at the time of maturity. This option is only available for CDs of six months or higher maturities.
d. Interest Payment Method: When opening the CD, you may opt to receive the periodic interest payments by any one of the following: • Through ACH/Wire transfer to your designated bank account • By an official check through regular mail • In your Checking or Money Market Deposit Account with us. If you opt to receive compounded interest (cumulative), we will pay you interest along with the principal at the time of maturity of the CD. e. Minimum Balance Requirement: The minimum amount required for each CD may vary for US resident depositors and those based outside the USA. It may also vary for consumer and accounts of businesses. Currently, the following are the minimum balances:
• Principal: The exact sum of money deposited in an account or the amount of money borrowed. • Right of Set-Off: Right to adjust any overdue debt from any other account held singly or jointly with us. • Substitute Check: means a paper reproduction of an original check that contains an image of the front and back of the original check, bears a MICR line, and is suitable for automated processing in the same manner as the original check. 7 Privacy Notice: FACTS WHAT DOES STATE BANK OF INDIA (SBI-US) DO WITH YOUR PERSONAL INFORMATION? Why? Financial companies choose how they share your personal information. Federal law gives consumers the right to limit some but not all sharing. Federal law also requires us to tell you how we collect, share, and protect your personal information. Please read this notice carefully to understand what we do. What? The types of personal information we collect and share depend on the product or service you have with us. This information can include: Social Security number and income Account balances and payment history Assets and debt When you are no longer our customer, we continue to share your information as described in this notice.
If we do not hear from you, and unless you had specifically advised us against automatic renewal when you opened the CD, 1. We will automatically renew the CD (principal and earned interest) for a period of one year at the rate offered for one year term on the date the CD matured for CDs having maturity of 1 year or more. 2. For CDs of lower tenor, the CD shall be auto-rolled over for original tenor. In the absence of your instruction for disposal of the maturity proceeds (where automatic renewal option has been declined), the maturity amount will be placed in a non-interest bearing account.
• Annual Percentage Yield Earned (APYE): Relationship between the interest amounts actually paid to the customer’s account during the period and the average daily balance in the account for that period. • Tiered interest rate: Accounts in which interest rate is based on the balances in account. Each tier corresponds to a range of account balances and interest rates earned by the customer if his or her balance falls within that range.  Attached/Attachment: An account blocked by a Court Order. • Available Balance: The funds available for withdrawal by the account holder. • Business Day: Any working day of the week; does not include Saturdays, Sundays and Federal holidays.
State Bank of India New York Customer Manual for Deposits 20 If you apply for a duplicate official check or a refund within 180 days of the date of the check, the Bank would require you and the payee to jointly sign an affidavit of loss and indemnity, referred to as Indemnity Agreement. You may also be required to submit a Surety Bond for twice the amount of the instrument or to place sufficient funds as security with us. After 180 days, an affidavit of loss and indemnity alone may suffice. A fee (see “Schedule of Fees & Charges”) will be charged for each stop payment request. i. Your Records: Your cancelled check(s) or substitute check(s), copies of special withdrawal form(s) and acknowledgment(s) on deposit slip(s) are your records. Paid and cancelled checks or substitute checks will be mailed with the statement of accounts to U.S. based customers. The cancelled checks or substitute checks for non-U.S. based accounts will normally be retained by the Bank. j. Statement of Account: Both Checking and Money Market Deposit Accounts are statement accounts. For all active statement accounts (that is, accounts which are not inactive or dormant as explained in Section 5.2) at least once in a calendar month, we will send a statement showing all account activities during the previous statement period. This statement will indicate your balance on the statement date and will give you an itemized, date-wise listing of all credits, all paid checks/ transfers, transactions put through using the linked debit card, interest earned, and any maintenance and service charges levied. It will also indicate the annual percentage yield earned (APYE) in effect during the period, if the account is interest bearing. All statements will be mailed to the last address known to the Bank by regular mail. For additional statements and other modes of sending statements, charges will be extra. No periodic account statements will be sent on CD accounts. Statements of Account are not available online, however, you may view the transactions online through internet banking.
State Bank of India New York Customer Manual for Deposits 15 CDs that were automatically renewed have a ten-calendar-day grace period (including the date of maturity). During the grace period, you may withdraw the amount of your deposit without incurring a premature withdrawal penalty. However, no interest will be paid from the date of maturity until the date of such withdrawal. If you choose to renew your deposit, during this grace period of 10 days, from a date later than the date of maturity, no interest will be paid from the date of maturity until the date of such renewal. Please, however, note that written instructions for withdrawal should be received by us within the grace period. The instructions will be accepted through Secured Messaging on Internet Banking Portal/Mail/In person visits to the Bank. CDs that mature on Saturdays, Sundays or Federal holidays will be available for withdrawal on the next business day and interest will be paid until the maturity date. CDs may not be negotiated or transferred to another individual or corporation. 4.3.1 Senior Citizen Certificate of Deposit This is a product variant of certificate of deposit specifically available to customers who are aged 60 years and above. These accounts can be either opened as Single or Joint deposits. In case of joint accounts, the primary account holder should meet the age eligibility criteria. We offer Senior Citizen CD with maturities from 1 year to 5 years. The product is available to US Citizens, Permanent Residents and Resident Aliens. In case of joint accounts, all the customers should be US Citizens, Permanent Residents or Resident aliens.
State Bank of India New York Customer Manual for Deposits 14 Type US Resident Non-US Resident Consumer accounts $5,000 $10,000 Accounts of Businesses $10,000 $10,000 f. Early Withdrawal Penalty: The principal amount of CD cannot usually be withdrawn before the maturity date, unless the Bank consents to the withdrawal as a special case. We may require that all holders of a joint account authorize a premature withdrawal of the principal from a CD account. Partial withdrawal is not permitted. The penalty for early withdrawals of CD is as follows: Term of Deposit No of Days for which Interest will be recovered 14 days 14 days 1 month to less than 1 year 30 days 1 year to less than 3 years 60 days 3 years to less than 5 years 120 days 5 years & over 180 days The penalty will be calculated at the same interest rate of the deposit. A penalty will not be charged if the premature withdrawal is caused by the death of the depositor or if the depositor is declared legally incompetent. g. Principal Protection: SBI New York Certificate of Deposit comes with “Principal Protection” feature. The penalty for early withdrawal would be limited up to the amount of interest paid / payable and will not result in reduction of the amount originally deposited. h. Renewal: If your CD is for a term of more than 30 days, we will send you a maturity notice not less than 14 days and not more than 30 days prior to the maturity date. No maturity notice will be sent for Certificate of Deposit with term of 30 days or less.
State Bank of India New York Customer Manual for Deposits 28 • Certify: An act by which the Bank conveys that the check, so accepted, will be paid, if otherwise in order. The Bank is obligated to make payments for all checks certified by it. Your account will be debited with the amount, at the time of certifying the check. • Collateral: Any property /security pledged for use in repaying loans in case of default. • Compound/Compounding: The interest paid on the interest left behind on deposit in your account. • Consumer: A natural person who holds an account, primarily for personal, family or household purposes. • Daily Balance Method: This method applies a daily periodic rate to the principal in the account each day. • Double-Endorsed Check: A check with an endorsement in addition to the endorsement(s) of the original payee(s). • Electronic Fund Transfer: Any transfer of money initiated by electronic means to or from a bank account of a customer. • Interest Rate: This refers to the annual simple interest the account will earn. • Maturity: The end of the agreed period of time for which an account was opened (applicable to CD or loan accounts).
a. Interest Rate: The interest rate earned on a Senior Citizen Certificate of Deposit will earn fixed rate for the term of the CD. This rate is determined by the Bank, based on market conditions, at the time the account is opened or renewed. For current rate information, you may visit our website https://sbinewyork.statebank or call (212) 521-3390 b. Annual Percentage Yield (APY): Senior Citizen Certificate of Deposit is offered on simple interest (also called non-cumulative interest) and compound interest (also called cumulative interest) basis, depending upon your choice. In case of simple interest, the Annual Percentage Rate(APR) and Annual Percentage Yield would be the same. In case of compound interest, APY measures the total amount of interest paid on the account in a year based on the interest rate and the frequency of compounding is quarterly. The interest is calculated on a 365 days basis. c. Compounding Period/Payment of Interest: If you choose to receive simple interest (non- cumulative) on your CD, you may opt to withdraw the interest at monthly/quarterly/half-yearly intervals, at the time of opening or renewing the CD. If you choose to receive compounded interest on your CD, interest will be compounded at quarterly intervals and will be paid along with the principal at the time of maturity.
State Bank of India New York Customer Manual for Deposits 13 4.3. CERTIFICATE OF DEPOSIT (“CD”) A CD earns a fixed rate of interest when an amount of money (principal) is left on deposit with the Bank for a fixed period (a fixed number of days, months or years). After an account is opened, you may not make deposits into or withdraw from this account until the maturity date. Premature withdrawal of principal would attract a penalty. Refer to “Penalty for Early Withdrawal of Principal” (Section f). We offer CDs with maturities from 3 months to 5 years. Bank also accepts deposit for a tenor from 7 days to 3 months on a case to case basis. a. Interest Rate: The interest rate earned on a Certificate of Deposit will be a guaranteed fixed rate for the term of the CD. This rate is determined by the Bank, based on market conditions, at the time the account is opened or renewed. Presently we are not offering floating rate Certificate of Deposits. For current rate information, you may visit our website https://sbinewyork.statebank or call 212-521-3390. b. Annual Percentage Yield (APY): Our Certificates of Deposit are offered on simple interest (also called non-cumulative interest) and compound interest (also called cumulative interest) basis, depending upon your choice. For CDs with simple interest, there will not be any difference in the interest rate (also called Annual Percentage Rate, or APR) and the Annual Percentage Yield (APY). For CDs where interest is compounded, the Annual Percentage Yield measures the total amount of interest paid on the account in a year based on the interest rate and the frequency of compounding, which is quarterly. The interest is calculated on a 365 days basis. c. Compounding Period/Payment of Interest: If you choose to receive simple interest (non- cumulative) on your CD, you may opt to withdraw the interest at monthly/quarterly/half-yearly intervals, at the time of opening or renewing the CD, provided the deposit is for one year or more. For CDs of less than six months, the simple interest is paid at maturity. If you choose to receive compounded interest on your CD, interest will be compounded at quarterly intervals and will be paid along with the principal at the time of maturity. This option is only available for CDs of six months or higher maturities.
d. Interest Payment Method: When opening the CD, you may opt to receive the periodic interest payments by any one of the following: • Through ACH/Wire transfer to your designated bank account • By an official check through regular mail • In your Checking or Money Market Deposit Account with us. If you opt to receive compounded interest (cumulative), we will pay you interest along with the principal at the time of maturity of the CD. e. Minimum Balance Requirement: The minimum amount required for each CD may vary for US resident depositors and those based outside the USA. It may also vary for consumer and accounts of businesses. Currently, the following are the minimum balances:
State Bank of India New York Customer Manual for Deposits 15 CDs that were automatically renewed have a ten-calendar-day grace period (including the date of maturity). During the grace period, you may withdraw the amount of your deposit without incurring a premature withdrawal penalty. However, no interest will be paid from the date of maturity until the date of such withdrawal. If you choose to renew your deposit, during this grace period of 10 days, from a date later than the date of maturity, no interest will be paid from the date of maturity until the date of such renewal. Please, however, note that written instructions for withdrawal should be received by us within the grace period. The instructions will be accepted through Secured Messaging on Internet Banking Portal/Mail/In person visits to the Bank. CDs that mature on Saturdays, Sundays or Federal holidays will be available for withdrawal on the next business day and interest will be paid until the maturity date. CDs may not be negotiated or transferred to another individual or corporation. 4.3.1 Senior Citizen Certificate of Deposit This is a product variant of certificate of deposit specifically available to customers who are aged 60 years and above. These accounts can be either opened as Single or Joint deposits. In case of joint accounts, the primary account holder should meet the age eligibility criteria. We offer Senior Citizen CD with maturities from 1 year to 5 years. The product is available to US Citizens, Permanent Residents and Resident Aliens. In case of joint accounts, all the customers should be US Citizens, Permanent Residents or Resident aliens.
If we do not hear from you, and unless you had specifically advised us against automatic renewal when you opened the CD, 1. We will automatically renew the CD (principal and earned interest) for a period of one year at the rate offered for one year term on the date the CD matured for CDs having maturity of 1 year or more. 2. For CDs of lower tenor, the CD shall be auto-rolled over for original tenor. In the absence of your instruction for disposal of the maturity proceeds (where automatic renewal option has been declined), the maturity amount will be placed in a non-interest bearing account.
State Bank of India New York Customer Manual for Deposits 14 Type US Resident Non-US Resident Consumer accounts $5,000 $10,000 Accounts of Businesses $10,000 $10,000 f. Early Withdrawal Penalty: The principal amount of CD cannot usually be withdrawn before the maturity date, unless the Bank consents to the withdrawal as a special case. We may require that all holders of a joint account authorize a premature withdrawal of the principal from a CD account. Partial withdrawal is not permitted. The penalty for early withdrawals of CD is as follows: Term of Deposit No of Days for which Interest will be recovered 14 days 14 days 1 month to less than 1 year 30 days 1 year to less than 3 years 60 days 3 years to less than 5 years 120 days 5 years & over 180 days The penalty will be calculated at the same interest rate of the deposit. A penalty will not be charged if the premature withdrawal is caused by the death of the depositor or if the depositor is declared legally incompetent. g. Principal Protection: SBI New York Certificate of Deposit comes with “Principal Protection” feature. The penalty for early withdrawal would be limited up to the amount of interest paid / payable and will not result in reduction of the amount originally deposited. h. Renewal: If your CD is for a term of more than 30 days, we will send you a maturity notice not less than 14 days and not more than 30 days prior to the maturity date. No maturity notice will be sent for Certificate of Deposit with term of 30 days or less.
State Bank of India New York Customer Manual for Deposits 20 If you apply for a duplicate official check or a refund within 180 days of the date of the check, the Bank would require you and the payee to jointly sign an affidavit of loss and indemnity, referred to as Indemnity Agreement. You may also be required to submit a Surety Bond for twice the amount of the instrument or to place sufficient funds as security with us. After 180 days, an affidavit of loss and indemnity alone may suffice. A fee (see “Schedule of Fees & Charges”) will be charged for each stop payment request. i. Your Records: Your cancelled check(s) or substitute check(s), copies of special withdrawal form(s) and acknowledgment(s) on deposit slip(s) are your records. Paid and cancelled checks or substitute checks will be mailed with the statement of accounts to U.S. based customers. The cancelled checks or substitute checks for non-U.S. based accounts will normally be retained by the Bank. j. Statement of Account: Both Checking and Money Market Deposit Accounts are statement accounts. For all active statement accounts (that is, accounts which are not inactive or dormant as explained in Section 5.2) at least once in a calendar month, we will send a statement showing all account activities during the previous statement period. This statement will indicate your balance on the statement date and will give you an itemized, date-wise listing of all credits, all paid checks/ transfers, transactions put through using the linked debit card, interest earned, and any maintenance and service charges levied. It will also indicate the annual percentage yield earned (APYE) in effect during the period, if the account is interest bearing. All statements will be mailed to the last address known to the Bank by regular mail. For additional statements and other modes of sending statements, charges will be extra. No periodic account statements will be sent on CD accounts. Statements of Account are not available online, however, you may view the transactions online through internet banking.
• Annual Percentage Yield Earned (APYE): Relationship between the interest amounts actually paid to the customer’s account during the period and the average daily balance in the account for that period. • Tiered interest rate: Accounts in which interest rate is based on the balances in account. Each tier corresponds to a range of account balances and interest rates earned by the customer if his or her balance falls within that range.  Attached/Attachment: An account blocked by a Court Order. • Available Balance: The funds available for withdrawal by the account holder. • Business Day: Any working day of the week; does not include Saturdays, Sundays and Federal holidays.
State Bank of India New York Customer Manual for Deposits 28 • Certify: An act by which the Bank conveys that the check, so accepted, will be paid, if otherwise in order. The Bank is obligated to make payments for all checks certified by it. Your account will be debited with the amount, at the time of certifying the check. • Collateral: Any property /security pledged for use in repaying loans in case of default. • Compound/Compounding: The interest paid on the interest left behind on deposit in your account. • Consumer: A natural person who holds an account, primarily for personal, family or household purposes. • Daily Balance Method: This method applies a daily periodic rate to the principal in the account each day. • Double-Endorsed Check: A check with an endorsement in addition to the endorsement(s) of the original payee(s). • Electronic Fund Transfer: Any transfer of money initiated by electronic means to or from a bank account of a customer. • Interest Rate: This refers to the annual simple interest the account will earn. • Maturity: The end of the agreed period of time for which an account was opened (applicable to CD or loan accounts).
State Bank of India New York Customer Manual for Deposits 16 Maturity period of deposit Number of days for which interest will be recovered 1 year to less than 3 years 60 days 3 years to less than 5 years 120 days 5 years & over 180 days The penalty will be calculated at the same interest rate of the deposit. A penalty will not be charged in case the withdrawal is caused by death of the depositor or if the depositor is declared legally incompetent. Principal Protection: SBI New York Certificate of Deposit comes with the “Principal Protection” feature. The penalty for early withdrawal would be limited up to the amount of interest paid / payable and will not result in reduction of the amount originally deposited. g. Interest Payment Method: When opening the CD, you may opt to receive the periodic interest payments by any one of the following: • Through ACH/Wire transfer to your designated bank account • By an official check through regular mail • In your Checking or Money Market Deposit Account with us. h. Renewal: We will send you a maturity notice not less than 14 days and not more than 30 days prior to the maturity date. If we do not hear from you, and unless you had specifically advised us against automatic renewal when you opened the CD, we will automatically renew the CD after 10 calendar days, under the same product for a period of one year at the rate offered for one year term on the date the CD matured. In the absence of your instruction for disposal of the maturity proceeds (where automatic renewal option has been declined), the maturity amount will be placed in a non-interest bearing account. CDs that were automatically renewed have a ten- calendar-day grace period (including the date of maturity). During the grace period, you may withdraw the amount of your deposit without incurring a premature withdrawal penalty. However, no interest will be paid from the date of maturity until the date of such withdrawal. If you choose to renew your deposit, during this grace period of 10 days, from a date later than the date of maturity, no interest will be paid from the date of maturity until the date of such renewal. Please, however, note that written instructions for withdrawal should be received by us within the grace period. The instructions will be accepted through Secured Messaging on Internet Banking Portal/Mail/In person visits to the Bank. CDs that mature on Saturdays, Sundays or Federal holidays will be available for withdrawal on the next business day and interest will be paid until the maturity date. CDs may not be negotiated or transferred to another individual or corporation. Your existing CDs may also be renewed as Senior Citizen CD in case you fulfil the eligibility norms subject to receipt of written request to convert the CD into a Senior Citizen CD. Existing CDs will not be auto renewed as Senior Citizen CD even though you may fulfil the eligibility conditions.

Test Case

Question: What is the exchange rate used for international transactions?

Metric Baseline Score Current Score
answer_accuracy 0.83053309 0.83053309
groundedness 0.92307716 0.92307716
mean_answer_similarity 0.88160924 0.88141057 (-0.00019867)
mean_reciprocal_rank 1.00000000 1.00000000
min_answer_similarity 0.83053309 0.83053309
model_failures 0.00000000 0.00000000
model_generation_failures 0.00000000 0.00000000
model_parse_failures 0.00000000 0.00000000
model_passes 1.00000000 1.00000000
model_retrieval_failures 0.00000000 0.00000000
precision_relevancy 0.84119951 0.83711380 (-0.00408571)
recall_relevancy 0.89944409 0.89944409
rouge_1 0.07070707 0.06965174 (-0.00105533)
rouge_2 0.06122449 0.06030151 (-0.00092298)
rouge_l 0.07070707 0.06965174 (-0.00105533)

Legend:

  • Metric : The evaluation metric name. Shown in bold red if the metric flipped between pass/fail status.
  • Baseline Score : The metric value for the baseline model. Shown in bold green if baseline won, red if lost.
  • Current Score : The metric value for the current model, followed by the delta from baseline in parentheses.
  • Delta Colors : Green = improvement, Orange = regression, Red = metric flipped to fail.
  • Winner Determination : For each metric, the winner is determined by comparing scores while considering the metric's directionality (higher is better vs. lower is better).
Baseline Result Current Result
Model claude-3-7-sonnet-20250219@h2ogpte claude-3-7-sonnet-20250219@h2ogpte
Question What is the exchange rate used for international transactions?
Expected answer The exchange rate is established by MasterCard
Actual Answer According to the document, for international transactions using a debit card, the exchange rate is established by MasterCard and not by the State Bank of India. This is specifically mentioned on page 37 of the document, which states: "Any transaction done in INR will be converted to U.S. dollars. The exchange rate is established by MasterCard and not the Bank." This is further confirmed on page 51, which states: "Additionally, Card Holders may use the Card at ATM and Merchant Establishments in countries other than the U.S. and India, if so permitted by the Bank, and in currencies other than U.S. Dollars. The Transaction will be converted to U.S. dollars. The exchange rate is decided by MasterCard and not the Bank." For remittances to India specifically, the document mentions on page 39 that "For remittances in Rupees, the conversion of US dollars into rupees will be done at the rate determined by SBI New York on the day and time of the conversion. For remittances in US dollars to India the funds will be converted into Rupees based on the laws and banking practice prevailing in India." According to the document, for international transactions using a debit card, the exchange rate is established by MasterCard and not by the State Bank of India (SBI). This is mentioned on page 37 of the Customer Manual for Deposits, which states: "Any transaction done in INR will be converted to U.S. dollars. The exchange rate is established by MasterCard and not the Bank." This is further confirmed on page 51, which states: "Additionally, Card Holders may use the Card at ATM and Merchant Establishments in countries other than the U.S. and India, if so permitted by the Bank, and in currencies other than U.S. Dollars. The Transaction will be converted to U.S. dollars. The exchange rate is decided by MasterCard and not the Bank." For remittances to India specifically, the document mentions on page 39 that "For remittances in Rupees, the conversion of US dollars into rupees will be done at the rate determined by SBI New York on the day and time of the conversion. For remittances in US dollars to India the funds will be converted into Rupees based on the laws and banking practice prevailing in India."
Retrieved Context
11. International Transactions: Additionally, Card Holders may use the Card at ATM and Merchant Establishments in countries other than the U.S. and India, if so permitted by the Bank, and in currencies other than U.S. Dollars. The Transaction will be converted to U.S. dollars. The exchange rate is decided by MasterCard and not the Bank. The use of the Card may be restricted with respect to certain foreign countries as required by U.S. laws and regulations. Fees: The Bank provides the Card at no charge, subject to such changes as Bank may make from time to time with advance notice as provided by law. In some instances, there may be charges imposed by ATMs operated by other banks and financial institutions. Business Days: The Bank’s business days are Monday through Friday, 9:00 a.m. to 4:00 p.m. (cash services available up to 3:00 pm only) barring the banking holidays as prescribed by the New York Department of Financial Services. Disclosure of Account Information to Third Parties: Please see our privacy policy at the end of this agreement for privacy information.
State Bank of India New York Customer Manual for Deposits 37 purchase, but in some instances, they may be for a different amount as MasterCard’s rules permit "authorization" holds based upon an estimated amount of the transaction, and, in some instances, may include additional amounts authorized under MasterCard’s rules. The Card Holder agrees that such a “hold” may be placed on his account/accounts in the amount authorized. These authorization holds can affect the Card Holder’s available balance for other transactions. The amount of your available balance will be decreased by the amount of the “hold‟ for as long as the “hold‟ is in effect. This means that funds on “hold‟ will not be available for withdrawal, transfer or payment. In each instance, the Card Holder is responsible to the Bank for the amount that the Bank settles based upon either the placed-hold limits or the final amount presented and settled. The Card Holder will remain responsible to the Bank for settlement of all pre-authorized transactions even if such transactions come after the hold is removed. This is another reason that the Card Holder should take care to keep an accurate register and monitor the Account’s balance for pending transactions and cleared transaction to ensure that sufficient funds are in the Account at all times. k. Overdraft on Account of Pre-authorized Transactions: Please note that while the Bank does not provide any overdraft facility on your debit card transactions, the Bank shall have right to recover funds from you if your account gets over-drawn because the Bank has settled a preauthorized transaction done at a Merchant Establishment using your debit card or on account of other such transactions done using your debit card. You agree that you will remain responsible to the Bank for the amount by which your account is overdrawn. Any two occurrences of your account having non- sufficient funds to cover a pre-approved/ authorized debit card transaction will lead to closure of your account and cancellation of the linked debit card facility. l. Cancellation of Merchant debit-card authorizations: Generally, the Bank is not permitted to allow the Card Holder to cancel a hold within MasterCard limits for Transactions that were authorized by the Card Holder. If, however, the Card Holder suspects that a Transaction was fraudulent or otherwise unauthorized, the Card Holder should contact the Merchant and the Bank for possible ways to chargeback the debit. Please see the Error Resolution Procedures in subsequent paragraphs for more information. m. Notice Regarding Money Market Deposit Accounts: If the Account is a Money Market Deposit Account, certain limitations on transactions apply. A maximum of 6 transfers or withdrawals, or a combination of such transfers or withdrawals, are permitted during a calendar month or statement cycle of at least four weeks, including transfers or withdrawal by check, ACH to third parties, and/or Debit Card transactions with Merchant Establishments. However, any number of the following transactions using the Debit Card at an ATM are permitted: transfers of funds between your own Accounts held with the Bank and balance inquiries. n. International Transactions: Additionally, Card Holders may use the Card at ATMs and Merchant Establishments in U.S. and India. Any transaction done in INR will be converted to U.S. dollars. The exchange rate is established by MasterCard and not the Bank. The use of the Card may also be restricted with respect to certain foreign countries as required by U.S. laws and regulations. Any offer or option for exchange rate given by any ATM machine is no way related to SBI NY Branch and they are offered by local ATM service provider. Your account will be debited based upon the option selected by you.
State Bank of India New York Customer Manual for Deposits 46 Deposited checks returned unpaid # $10 $10 Closing of Checking or Money Market account within 3 months of opening $25 $25 Listing of Stop Payment request valid for 6 months per check, per ACH debit or debit card preauthorized transfers stopped (maximum $50 at one time) $15 $15 Stop Check Request through YONO US Portal (Min. 1 leaf Max: 10 leaves within same range) $15 for one leaf $30 for 2 leaves $45 for 3 leaves $50 for 4-10 leaves Not Applicable Cancellation of Stop Payment request per check, ACH debit or debit card preauthorized transfers stopped $15 $15 Expedited Delivery of Debit Card Actual cost charged by the service provider -- Per item charge for copy of paid checks/deposited checks, withdrawals or tickets - For current calendar year - For previous calendar year - For other years (up to 5 previous years) *per preceding year beyond previous year $5 $10 $15 * $5 $10 $15 * Charges per page of account statements - For current calendar year - For previous calendar year - For all other years (up to 5 previous years) *per preceding year beyond previous year $5 $10 $15 * $5 $10 $15 * Transfer of funds from Checking to MMD or vice-versa (per transfer) / between two accounts Manual transfer Online transfer $5 Free $5 Free Credit reference $10 $10 Issue of local official checks/certified checks $10 $10 Cash handling charges (per thousand or part thereof after first $1000 deposit in a day) NIL for less than $1000 $2 $2
State Bank of India New York Customer Manual for Deposits 12 month, accrued interest will be credited and paid. Accrued interest will be credited to your account prior to closing the same. c. Compounding Method: Your Money Market Deposit Account earn simple interest on a 360 days’ basis which accrues daily based on the end-of-the-day balance. The daily balance method will be used to calculate the interest on the account. This method applies a daily periodic rate to the principal in the account each day. Although interest accrues daily, you may not withdraw the earnings until the first business day of the following calendar month, when the same is credited into the account, provided the account is not closed. If not withdrawn, interest is added to and becomes part of the account balance. Since interest is added to your total account balance, any credited interest in the account is, effectively, compounded monthly. d. Annual Percentage Yield: The annual percentage yield earned (APYE) for the statement period will be advised with each monthly statement account. e. Withdrawals: A maximum of 6 transfers or withdrawals, or a combination of such transfers or withdrawals, are permitted during a calendar month or statement cycle of at least four weeks. For the purpose of this limit, preauthorized, automatic transfers (including but not limited to transfer from savings deposit for overdraft protection or for direct bill payments) and transfers and withdrawals initiated by telephone, facsimile, or computer and transfers made by check, debit card or other similar order made by the depositor and payable to third parties is included.
State Bank of India New York Customer Manual for Deposits 28 • Certify: An act by which the Bank conveys that the check, so accepted, will be paid, if otherwise in order. The Bank is obligated to make payments for all checks certified by it. Your account will be debited with the amount, at the time of certifying the check. • Collateral: Any property /security pledged for use in repaying loans in case of default. • Compound/Compounding: The interest paid on the interest left behind on deposit in your account. • Consumer: A natural person who holds an account, primarily for personal, family or household purposes. • Daily Balance Method: This method applies a daily periodic rate to the principal in the account each day. • Double-Endorsed Check: A check with an endorsement in addition to the endorsement(s) of the original payee(s). • Electronic Fund Transfer: Any transfer of money initiated by electronic means to or from a bank account of a customer. • Interest Rate: This refers to the annual simple interest the account will earn. • Maturity: The end of the agreed period of time for which an account was opened (applicable to CD or loan accounts).
State Bank of India New York Customer Manual for Deposits 39 a. Funds Transfer Services to India Remittances can be sent both in US dollars and in Indian rupees, at your option. At What Rate Are Dollars Converted to Rupees? For remittances in Rupees, the conversion of US dollars into rupees will be done at the rate determined by SBI New York on the day and time of the conversion. For remittances in US dollars to India the funds will be converted into Rupees based on the laws and banking practice prevailing in India. Modes of Transfer of Funds Remittances can be sent through Wire transfer. Please note that Wire transfers in dollars can be sent only to those authorized branches of Banks where SWIFT facilities are available. While all efforts will be made to ensure timely delivery of funds to the beneficiaries, the Bank shall not be under any liability for any errors, negligence, default or any failure on the part of the remitting customer in furnishing vital information for good delivery of the funds. Please read the Terms and Conditions for the remittance mentioned on the remittance forms. b. Transfer of Funds to Other Banks in the U.S. Funds can be transferred to other banks in the U.S. through CHIPS or Fedwire, as we are members of both of these systems. Our ABA routing number is 0260-0914-0 and CHIPS UID is 034282. c. Transfer of Funds to Other Countries We can also transfer your funds to accounts in banks in foreign countries other than India through our correspondents. You may advise us the intermediary bank of your beneficiary’s Bank, wherever required. We can also quote firm exchange rates and effect remittances through our correspondents, in the following currencies: GBP, EUR, CAD, JPY, CHF, AUD, NPR, LKR, BDT Remittances in other currencies can be offered depending upon the volume of business and availability of correspondent relationship in that currency. d. How to Apply for a Remittance Request for remittance services mentioned in a, b, c above should be made through Internet Banking (online and offline) through our website (https://sbinewyork.statebank) or by submission of our prescribed application form. The remittance application form is available on our website https://sbinewyork.statebank. Individual customers can submit the form alongwith a copy of valid photo ID over the counter at the Branch or mail the set to the Branch. The Bank will not accept remittance form through fax or e-mail for individual customers. See “Schedule of Fees & Charges” in this Manual for applicable charges. e. Use of the Remittance Service (the “Service”) The Service is available for use only by individuals and corporate customers who are account holders at the Bank. The Service will permit you to issue non-repetitive orders for us to transfer funds from your account to accounts at other domestic or international financial institutions, in amounts up to any daily limits or individual customer limits which we may establish and change in our discretion
State Bank of India New York Customer Manual for Deposits 42 otherwise incur on account of our provision of the Service to you and caused by your breach of our agreement or by your negligence, misconduct or other wrongful or illegal use of the Service. k. Privacy and Sharing and Use of Information. The information we obtain from you in connection with the Service may be confidential. We will maintain the confidentiality of such information in accordance with our normal procedures for safeguarding information regarding our customers and our Privacy Policy found elsewhere in this Manual. l. Special Rights Regarding “Remittance Transfers.” The Consumer Financial Protection Bureau’s Regulation E governs certain outgoing electronic international transactions initiated by consumers that are defined as “remittance transfers.” Included within the definition of a remittance transfer are wire transfers of funds from any of your consumer deposit or Money Market Deposit Accounts to third parties who are located, or whose accounts are located, in foreign countries. This means that when you request a remittance transfer: (1) You will receive specific disclosures about the details of the requested transfer before we will complete the transfer. (2) You have certain cancellation and refund rights in connection with the transfer if you change your mind within 30 minutes after making payment and the funds have not already been picked up or deposited into the recipient’s account. These rights are briefly summarized below. (3) You have certain rights if you suspect an error or problem with a remittance transfer. These rights are briefly summarized below. (4) We will send you a notice that we debited your account and you paid for the transfer. (5) Certain provisions of this Manual, which limit our liability to you or make you responsible for losses in various circumstances, do not apply and our or your liability or responsibility is instead governed by the Regulation E remittance transfer rules. Among other things, those rules provide that if you give us the incorrect account number or recipient institution identifier, you could lose the transfer amount. (6) There may also be other provisions of this Manual, that are inconsistent with certain rights or responsibilities of you or us under the Regulation E remittance transfer rules. In the event of any such inconsistency, Regulation E will control and this Manual, will be deemed modified so as to be consistent with the remittance transfer rules, without affecting the validity of any other provisions of the Manual. What to do if you want to cancel a remittance transfer: You have the right to cancel a remittance transfer and obtain a refund of all funds paid to us, including any fees. To cancel, you must contact us: by telephone at (212)-521-3234; by email at cancelremit.nyb@statebank.com or in person at the Bank within 30 minutes of making payment for the transfer. If you have initiated the remittance through new “YONO US Portal”, you can use the Cancellation facility within 30 minutes of creation of transaction to self-cancel the transfer. When you contact us, you must provide us with information to help us identify the transfer you wish to cancel, including your name, address and telephone number, the amount and location where the funds were to be sent and any identification number we have provided for you in connection with the transfer. We will refund your money within three business days of your request to cancel a transfer, as long as the funds have not already been picked up or deposited into the recipient’s
State Bank of India New York Customer Manual for Deposits 44 decide not to agree to the terms and conditions discussed therein, you may not use Internet Banking. The Online Banking Terms of Service govern Internet Banking and supersede any inconsistent agreements or requirements. However, the terms of this Manual will govern and supersede any inconsistent statements contained in the Online Banking Terms of Service with regard to the (i) types of accounts that you may have with the Bank and the terms of those accounts; (ii) Bank’s rules governing wire transfers or international remittances including our liability to you and how we will inform you about the costs and fees and exchange rates for remittances and your ability to stop the remittance; (iii) Bank’s privacy and sharing of information policies and (iv) governing law of our agreement. Note: The customer is required to give full name (no initials) while creating recipient for the purpose of sending remittances. Thank You IMPORTANT If there is a conflict between the information stated in any Bank agreement or brochure/Manual (including this one) and something said by one of our employees, the written information will be used to resolve the conflict. The Bank may refuse to follow any instructions it believes is not permitted under law or regulation. The Manual is governed by and shall be interpreted under the laws of the State of New York. Any litigation shall be filed and heard only in the federal or state courts located in New York. State Bank of India reserves the right to change the Manual as required by law or Bank policy. Such changes may be displayed on the notice board in the Bank, posted on the website (https://sbinewyork.statebank) or advised to customers by mail. If you have any questions regarding the information provided in the Manual or your account relationship, you may contact us by mail by writing to the following address: State Bank of India DRS Department 460 Park Avenue New York Branch, NY 10022 U.S.A. Tel : General: (212)521-3200
State Bank of India New York Customer Manual for Deposits 40 from time to time. Our decision to approve your request to use the Service is within our sole discretion. Your rights in using the Service are governed by the terms set forth in this Manual and by any receipt or disclosures you receive at the time that you arrange for a remittance transfer. f. Fees. You will be assessed fees and other charges associated with the Service as detailed in the “Schedule of Fees & Charges” in this Manual. We reserve the right to change from time to time our fees and other charges. Our fees and charges will also be disclosed in the documentation you receive at the time that you arrange for a remittance transfer. g. Cancellation, Amendment and Termination. We may suspend or cancel the Service in our sole discretion. We may also limit or restrict your use of the Service, as provided below, in our sole discretion. If you wish to cancel a remittance more than 30 minutes after you have paid us, we will endeavor to do so if possible. Likewise, if you wish to amend an instruction that you have given us more than 30 minutes after you have paid us, we will endeavor to do so if possible. You may be charged a fee for such cancellations or amendments. h. Instructions. It is your responsibility to ensure that we are provided with accurate, clear, and correct instructions regarding your remittances. In case the remitter provides incorrect beneficiary account details or the remittance is returned by beneficiary bank for any reason, the remittance may be recalled by the branch and the amount so recalled would be converted at prevalent (INR-USD) purchase rate. We may refuse to accept instructions from anyone other than you in our sole discretion. We may also refuse to execute any remittance requests which are incomplete. You will strictly adhere to the security procedures applicable from time to time to the Service. Bank reserves the right to ask for any additional documents before/after processing the remittance. For remittances to NGOs/charitable purpose, the customer will have to provide the copy of updated FCRA (Foreign Contribution Regulation Act) certificate. The Bank reserves the right to not process the remittance if the FCRA (Foreign Contribution Regulation Act) number is not valid based on confirmation from Ministry of Home Affairs website of Government of India. All the remittance requests received at the SBI New York are subject to approval of our internal Compliance department. We may seek any additional information regarding the remittance like purpose of transactions, specific details about beneficiary etc. before executing the remittance. We may refuse to execute the remittance if the additional information sought is not provided by the remitter. If the beneficiary’s account number that you provide does not correspond to the name of the beneficiary that you provide, we will not be liable for losses resulting from the beneficiary’s financial institution paying the wrong person or does not accept the wire or places the funds in a suspense account pending clarification. We will not be liable to you or any other person for any losses resulting from the beneficiary’s financial institution accepting and posting any wire transfer to an incorrect account. We will also not be liable to you or the beneficiary of the wire or any other person for any fees that may be deducted by the beneficiary’s financial institution. We will not be liable for losses resulting from your failure to properly identify the financial institution where the beneficiary maintains an account.
State Bank of India New York Customer Manual for Deposits IRS, etc.) Printing and mailing of checks. First check book of up-to 50 leaves free thereafter the actual cost charged by the supplier Actual cost charged by the supplier Replacement/reimbursement fee for stop payments on official and certified checks $15 $15 Collection of checks, draft or other instruments drawn on banks outside the USA. $50 $50 Uncollected deposit items (checks/drafts negotiated through us which are drawn on other banks and are returned unpaid) $50 $50 Balance confirmation certificate $5 $5 For any other account information sought by the customer. Charges per instance per document: - For current calendar year - For previous calendar year - For all other years (up to 5 previous years) $ 5 $ 10 $ 15 $ 5 $ 10 $ 15 C. REMITTANCE FEES Rupee remittances Wire Transfer (Initiated through Online Banking) FREE* Rupee remittances –Wire Transfer (Other than Initiated through Online Banking) Up to US Dollar 999 or equivalent US Dollar 1000 or above $5 Free $5 Free Wire transfer in U.S. dollars to Any Bank $25 (For both Online on YONO and offline at Branch) $25 Wire transfer in currencies other than USD and INR For less than $2,500.00 $2,500.00 and above $35 Free $35 Free Cancellation of or issue of duplicate draft/refund of funds for lost draft. (In $25* $25*
11. International Transactions: Additionally, Card Holders may use the Card at ATM and Merchant Establishments in countries other than the U.S. and India, if so permitted by the Bank, and in currencies other than U.S. Dollars. The Transaction will be converted to U.S. dollars. The exchange rate is decided by MasterCard and not the Bank. The use of the Card may be restricted with respect to certain foreign countries as required by U.S. laws and regulations. Fees: The Bank provides the Card at no charge, subject to such changes as Bank may make from time to time with advance notice as provided by law. In some instances, there may be charges imposed by ATMs operated by other banks and financial institutions. Business Days: The Bank’s business days are Monday through Friday, 9:00 a.m. to 4:00 p.m. (cash services available up to 3:00 pm only) barring the banking holidays as prescribed by the New York Department of Financial Services. Disclosure of Account Information to Third Parties: Please see our privacy policy at the end of this agreement for privacy information.
State Bank of India New York Customer Manual for Deposits 37 purchase, but in some instances, they may be for a different amount as MasterCard’s rules permit "authorization" holds based upon an estimated amount of the transaction, and, in some instances, may include additional amounts authorized under MasterCard’s rules. The Card Holder agrees that such a “hold” may be placed on his account/accounts in the amount authorized. These authorization holds can affect the Card Holder’s available balance for other transactions. The amount of your available balance will be decreased by the amount of the “hold‟ for as long as the “hold‟ is in effect. This means that funds on “hold‟ will not be available for withdrawal, transfer or payment. In each instance, the Card Holder is responsible to the Bank for the amount that the Bank settles based upon either the placed-hold limits or the final amount presented and settled. The Card Holder will remain responsible to the Bank for settlement of all pre-authorized transactions even if such transactions come after the hold is removed. This is another reason that the Card Holder should take care to keep an accurate register and monitor the Account’s balance for pending transactions and cleared transaction to ensure that sufficient funds are in the Account at all times. k. Overdraft on Account of Pre-authorized Transactions: Please note that while the Bank does not provide any overdraft facility on your debit card transactions, the Bank shall have right to recover funds from you if your account gets over-drawn because the Bank has settled a preauthorized transaction done at a Merchant Establishment using your debit card or on account of other such transactions done using your debit card. You agree that you will remain responsible to the Bank for the amount by which your account is overdrawn. Any two occurrences of your account having non- sufficient funds to cover a pre-approved/ authorized debit card transaction will lead to closure of your account and cancellation of the linked debit card facility. l. Cancellation of Merchant debit-card authorizations: Generally, the Bank is not permitted to allow the Card Holder to cancel a hold within MasterCard limits for Transactions that were authorized by the Card Holder. If, however, the Card Holder suspects that a Transaction was fraudulent or otherwise unauthorized, the Card Holder should contact the Merchant and the Bank for possible ways to chargeback the debit. Please see the Error Resolution Procedures in subsequent paragraphs for more information. m. Notice Regarding Money Market Deposit Accounts: If the Account is a Money Market Deposit Account, certain limitations on transactions apply. A maximum of 6 transfers or withdrawals, or a combination of such transfers or withdrawals, are permitted during a calendar month or statement cycle of at least four weeks, including transfers or withdrawal by check, ACH to third parties, and/or Debit Card transactions with Merchant Establishments. However, any number of the following transactions using the Debit Card at an ATM are permitted: transfers of funds between your own Accounts held with the Bank and balance inquiries. n. International Transactions: Additionally, Card Holders may use the Card at ATMs and Merchant Establishments in U.S. and India. Any transaction done in INR will be converted to U.S. dollars. The exchange rate is established by MasterCard and not the Bank. The use of the Card may also be restricted with respect to certain foreign countries as required by U.S. laws and regulations. Any offer or option for exchange rate given by any ATM machine is no way related to SBI NY Branch and they are offered by local ATM service provider. Your account will be debited based upon the option selected by you.
State Bank of India New York Customer Manual for Deposits 12 month, accrued interest will be credited and paid. Accrued interest will be credited to your account prior to closing the same. c. Compounding Method: Your Money Market Deposit Account earn simple interest on a 360 days’ basis which accrues daily based on the end-of-the-day balance. The daily balance method will be used to calculate the interest on the account. This method applies a daily periodic rate to the principal in the account each day. Although interest accrues daily, you may not withdraw the earnings until the first business day of the following calendar month, when the same is credited into the account, provided the account is not closed. If not withdrawn, interest is added to and becomes part of the account balance. Since interest is added to your total account balance, any credited interest in the account is, effectively, compounded monthly. d. Annual Percentage Yield: The annual percentage yield earned (APYE) for the statement period will be advised with each monthly statement account. e. Withdrawals: A maximum of 6 transfers or withdrawals, or a combination of such transfers or withdrawals, are permitted during a calendar month or statement cycle of at least four weeks. For the purpose of this limit, preauthorized, automatic transfers (including but not limited to transfer from savings deposit for overdraft protection or for direct bill payments) and transfers and withdrawals initiated by telephone, facsimile, or computer and transfers made by check, debit card or other similar order made by the depositor and payable to third parties is included.
State Bank of India New York Customer Manual for Deposits 42 otherwise incur on account of our provision of the Service to you and caused by your breach of our agreement or by your negligence, misconduct or other wrongful or illegal use of the Service. k. Privacy and Sharing and Use of Information. The information we obtain from you in connection with the Service may be confidential. We will maintain the confidentiality of such information in accordance with our normal procedures for safeguarding information regarding our customers and our Privacy Policy found elsewhere in this Manual. l. Special Rights Regarding “Remittance Transfers.” The Consumer Financial Protection Bureau’s Regulation E governs certain outgoing electronic international transactions initiated by consumers that are defined as “remittance transfers.” Included within the definition of a remittance transfer are wire transfers of funds from any of your consumer deposit or Money Market Deposit Accounts to third parties who are located, or whose accounts are located, in foreign countries. This means that when you request a remittance transfer: (1) You will receive specific disclosures about the details of the requested transfer before we will complete the transfer. (2) You have certain cancellation and refund rights in connection with the transfer if you change your mind within 30 minutes after making payment and the funds have not already been picked up or deposited into the recipient’s account. These rights are briefly summarized below. (3) You have certain rights if you suspect an error or problem with a remittance transfer. These rights are briefly summarized below. (4) We will send you a notice that we debited your account and you paid for the transfer. (5) Certain provisions of this Manual, which limit our liability to you or make you responsible for losses in various circumstances, do not apply and our or your liability or responsibility is instead governed by the Regulation E remittance transfer rules. Among other things, those rules provide that if you give us the incorrect account number or recipient institution identifier, you could lose the transfer amount. (6) There may also be other provisions of this Manual, that are inconsistent with certain rights or responsibilities of you or us under the Regulation E remittance transfer rules. In the event of any such inconsistency, Regulation E will control and this Manual, will be deemed modified so as to be consistent with the remittance transfer rules, without affecting the validity of any other provisions of the Manual. What to do if you want to cancel a remittance transfer: You have the right to cancel a remittance transfer and obtain a refund of all funds paid to us, including any fees. To cancel, you must contact us: by telephone at (212)-521-3234; by email at cancelremit.nyb@statebank.com or in person at the Bank within 30 minutes of making payment for the transfer. If you have initiated the remittance through new “YONO US Portal”, you can use the Cancellation facility within 30 minutes of creation of transaction to self-cancel the transfer. When you contact us, you must provide us with information to help us identify the transfer you wish to cancel, including your name, address and telephone number, the amount and location where the funds were to be sent and any identification number we have provided for you in connection with the transfer. We will refund your money within three business days of your request to cancel a transfer, as long as the funds have not already been picked up or deposited into the recipient’s
State Bank of India New York Customer Manual for Deposits 39 a. Funds Transfer Services to India Remittances can be sent both in US dollars and in Indian rupees, at your option. At What Rate Are Dollars Converted to Rupees? For remittances in Rupees, the conversion of US dollars into rupees will be done at the rate determined by SBI New York on the day and time of the conversion. For remittances in US dollars to India the funds will be converted into Rupees based on the laws and banking practice prevailing in India. Modes of Transfer of Funds Remittances can be sent through Wire transfer. Please note that Wire transfers in dollars can be sent only to those authorized branches of Banks where SWIFT facilities are available. While all efforts will be made to ensure timely delivery of funds to the beneficiaries, the Bank shall not be under any liability for any errors, negligence, default or any failure on the part of the remitting customer in furnishing vital information for good delivery of the funds. Please read the Terms and Conditions for the remittance mentioned on the remittance forms. b. Transfer of Funds to Other Banks in the U.S. Funds can be transferred to other banks in the U.S. through CHIPS or Fedwire, as we are members of both of these systems. Our ABA routing number is 0260-0914-0 and CHIPS UID is 034282. c. Transfer of Funds to Other Countries We can also transfer your funds to accounts in banks in foreign countries other than India through our correspondents. You may advise us the intermediary bank of your beneficiary’s Bank, wherever required. We can also quote firm exchange rates and effect remittances through our correspondents, in the following currencies: GBP, EUR, CAD, JPY, CHF, AUD, NPR, LKR, BDT Remittances in other currencies can be offered depending upon the volume of business and availability of correspondent relationship in that currency. d. How to Apply for a Remittance Request for remittance services mentioned in a, b, c above should be made through Internet Banking (online and offline) through our website (https://sbinewyork.statebank) or by submission of our prescribed application form. The remittance application form is available on our website https://sbinewyork.statebank. Individual customers can submit the form alongwith a copy of valid photo ID over the counter at the Branch or mail the set to the Branch. The Bank will not accept remittance form through fax or e-mail for individual customers. See “Schedule of Fees & Charges” in this Manual for applicable charges. e. Use of the Remittance Service (the “Service”) The Service is available for use only by individuals and corporate customers who are account holders at the Bank. The Service will permit you to issue non-repetitive orders for us to transfer funds from your account to accounts at other domestic or international financial institutions, in amounts up to any daily limits or individual customer limits which we may establish and change in our discretion
State Bank of India New York Customer Manual for Deposits 28 • Certify: An act by which the Bank conveys that the check, so accepted, will be paid, if otherwise in order. The Bank is obligated to make payments for all checks certified by it. Your account will be debited with the amount, at the time of certifying the check. • Collateral: Any property /security pledged for use in repaying loans in case of default. • Compound/Compounding: The interest paid on the interest left behind on deposit in your account. • Consumer: A natural person who holds an account, primarily for personal, family or household purposes. • Daily Balance Method: This method applies a daily periodic rate to the principal in the account each day. • Double-Endorsed Check: A check with an endorsement in addition to the endorsement(s) of the original payee(s). • Electronic Fund Transfer: Any transfer of money initiated by electronic means to or from a bank account of a customer. • Interest Rate: This refers to the annual simple interest the account will earn. • Maturity: The end of the agreed period of time for which an account was opened (applicable to CD or loan accounts).
State Bank of India New York Customer Manual for Deposits 11 age or older. For every additional withdrawal or check beyond above mentioned number in a statement cycle, $5 will be recovered e. Restriction on the number of credits/deposits: No restriction. f. Availability of account statement and frequency of monthly statement: Account statements at monthly intervals will be provided. 4.2 Money Market Deposit (MMD) Account This is an interest-bearing account from which withdrawals can be made in accordance with certain prescribed restrictions. Tiered interest rate is available on money market accounts based on the balances available in the account. The minimum deposit required for opening an account is the minimum daily balance requirement for the account which is tabled below. The daily minimum balances required to be maintained to avoid monthly service charges are as follows: Consumer Account Business/ Associations US Resident Customer $2,500 $50,000 Non-US Resident Customer $25,000 $ 100,000 A minimum balance service charge as listed in our “Schedule of Fees & Charges” in this Manual will be imposed every month if the balance in the account falls below the required minimum during any day of a calendar month. If the balance is less than the amount required to be deducted as service charge, the so available balance will be treated as service charges and the account may be closed forthwith, with notice to the customer at the last available address in our records. No overdraft is permitted under any circumstances in this account. Any check presented with insufficient funds will be dishonored. Service charges are listed in our “Schedule of Fees & Charges” in this Manual. A Money Market Deposit Account for Non-US Resident consumer or business/association would be opened at the sole discretion of the Bank and as per its policy, either on the same terms and conditions as for U.S- resident customers or on mutually agreed terms and conditions. Monthly service charges are listed in our “Schedule of Fees & Charges” in this Manual. Early closure fees will apply if you close your account within three months of opening. Other Features of Money Market Deposit Accounts a. Interest Rate: Tiered interest rate is available on MMD accounts based on the balances available in account. Interest rate on these accounts may vary from time to time. The Bank reserves the right to change the rate at any time. There is no limitation as to the percentage amount the interest rate may vary. You may visit our website https://sbinewyork.statebank or call (212) 521-3200 for information on the current rate of interest. b. Payment of Interest: Interest will accrue on your day-end balance. Interest earned during the month will be credited to the account at the close of business on the last business day of the month and will be made available to you on the first business day of the following month. There is no minimum balance required to earn the stated annual percentage yield. For non-cash deposits made into your account (for example checks) interest begins to accrue no later than the business day we receive credit for the deposit of the non-cash items. If the account is closed during the middle of a
State Bank of India New York Customer Manual for Deposits 16 Maturity period of deposit Number of days for which interest will be recovered 1 year to less than 3 years 60 days 3 years to less than 5 years 120 days 5 years & over 180 days The penalty will be calculated at the same interest rate of the deposit. A penalty will not be charged in case the withdrawal is caused by death of the depositor or if the depositor is declared legally incompetent. Principal Protection: SBI New York Certificate of Deposit comes with the “Principal Protection” feature. The penalty for early withdrawal would be limited up to the amount of interest paid / payable and will not result in reduction of the amount originally deposited. g. Interest Payment Method: When opening the CD, you may opt to receive the periodic interest payments by any one of the following: • Through ACH/Wire transfer to your designated bank account • By an official check through regular mail • In your Checking or Money Market Deposit Account with us. h. Renewal: We will send you a maturity notice not less than 14 days and not more than 30 days prior to the maturity date. If we do not hear from you, and unless you had specifically advised us against automatic renewal when you opened the CD, we will automatically renew the CD after 10 calendar days, under the same product for a period of one year at the rate offered for one year term on the date the CD matured. In the absence of your instruction for disposal of the maturity proceeds (where automatic renewal option has been declined), the maturity amount will be placed in a non-interest bearing account. CDs that were automatically renewed have a ten- calendar-day grace period (including the date of maturity). During the grace period, you may withdraw the amount of your deposit without incurring a premature withdrawal penalty. However, no interest will be paid from the date of maturity until the date of such withdrawal. If you choose to renew your deposit, during this grace period of 10 days, from a date later than the date of maturity, no interest will be paid from the date of maturity until the date of such renewal. Please, however, note that written instructions for withdrawal should be received by us within the grace period. The instructions will be accepted through Secured Messaging on Internet Banking Portal/Mail/In person visits to the Bank. CDs that mature on Saturdays, Sundays or Federal holidays will be available for withdrawal on the next business day and interest will be paid until the maturity date. CDs may not be negotiated or transferred to another individual or corporation. Your existing CDs may also be renewed as Senior Citizen CD in case you fulfil the eligibility norms subject to receipt of written request to convert the CD into a Senior Citizen CD. Existing CDs will not be auto renewed as Senior Citizen CD even though you may fulfil the eligibility conditions.
State Bank of India New York Customer Manual for Deposits 44 decide not to agree to the terms and conditions discussed therein, you may not use Internet Banking. The Online Banking Terms of Service govern Internet Banking and supersede any inconsistent agreements or requirements. However, the terms of this Manual will govern and supersede any inconsistent statements contained in the Online Banking Terms of Service with regard to the (i) types of accounts that you may have with the Bank and the terms of those accounts; (ii) Bank’s rules governing wire transfers or international remittances including our liability to you and how we will inform you about the costs and fees and exchange rates for remittances and your ability to stop the remittance; (iii) Bank’s privacy and sharing of information policies and (iv) governing law of our agreement. Note: The customer is required to give full name (no initials) while creating recipient for the purpose of sending remittances. Thank You IMPORTANT If there is a conflict between the information stated in any Bank agreement or brochure/Manual (including this one) and something said by one of our employees, the written information will be used to resolve the conflict. The Bank may refuse to follow any instructions it believes is not permitted under law or regulation. The Manual is governed by and shall be interpreted under the laws of the State of New York. Any litigation shall be filed and heard only in the federal or state courts located in New York. State Bank of India reserves the right to change the Manual as required by law or Bank policy. Such changes may be displayed on the notice board in the Bank, posted on the website (https://sbinewyork.statebank) or advised to customers by mail. If you have any questions regarding the information provided in the Manual or your account relationship, you may contact us by mail by writing to the following address: State Bank of India DRS Department 460 Park Avenue New York Branch, NY 10022 U.S.A. Tel : General: (212)521-3200
State Bank of India New York Customer Manual for Deposits 13 4.3. CERTIFICATE OF DEPOSIT (“CD”) A CD earns a fixed rate of interest when an amount of money (principal) is left on deposit with the Bank for a fixed period (a fixed number of days, months or years). After an account is opened, you may not make deposits into or withdraw from this account until the maturity date. Premature withdrawal of principal would attract a penalty. Refer to “Penalty for Early Withdrawal of Principal” (Section f). We offer CDs with maturities from 3 months to 5 years. Bank also accepts deposit for a tenor from 7 days to 3 months on a case to case basis. a. Interest Rate: The interest rate earned on a Certificate of Deposit will be a guaranteed fixed rate for the term of the CD. This rate is determined by the Bank, based on market conditions, at the time the account is opened or renewed. Presently we are not offering floating rate Certificate of Deposits. For current rate information, you may visit our website https://sbinewyork.statebank or call 212-521-3390. b. Annual Percentage Yield (APY): Our Certificates of Deposit are offered on simple interest (also called non-cumulative interest) and compound interest (also called cumulative interest) basis, depending upon your choice. For CDs with simple interest, there will not be any difference in the interest rate (also called Annual Percentage Rate, or APR) and the Annual Percentage Yield (APY). For CDs where interest is compounded, the Annual Percentage Yield measures the total amount of interest paid on the account in a year based on the interest rate and the frequency of compounding, which is quarterly. The interest is calculated on a 365 days basis. c. Compounding Period/Payment of Interest: If you choose to receive simple interest (non- cumulative) on your CD, you may opt to withdraw the interest at monthly/quarterly/half-yearly intervals, at the time of opening or renewing the CD, provided the deposit is for one year or more. For CDs of less than six months, the simple interest is paid at maturity. If you choose to receive compounded interest on your CD, interest will be compounded at quarterly intervals and will be paid along with the principal at the time of maturity. This option is only available for CDs of six months or higher maturities.

Test Case

Question: What is the time limit for a customer to contact the bank about an error or problem with a remittance transfer?

Metric Baseline Score Current Score
answer_accuracy 0.00813008 0.00000000 (-0.00813008)
groundedness 0.92094880 0.00000000 (-0.92094880)
mean_answer_similarity 0.78373573 0.00000000 (-0.78373573)
mean_reciprocal_rank 1.00000000 0.00000000 (-1.00000000)
min_answer_similarity 0.73293032 0.00000000 (-0.73293032)
model_failures 0.00000000 1.00000000 (+1.00000000)
model_generation_failures 0.00000000 1.00000000 (+1.00000000)
model_parse_failures 0.00000000 0.00000000
model_passes 1.00000000 0.00000000 (-1.00000000)
model_retrieval_failures 0.00000000 0.00000000
precision_relevancy 0.87802150 0.00000000 (-0.87802150)
recall_relevancy 0.89747995 0.00000000 (-0.89747995)
rouge_1 0.02395210 0.00000000 (-0.02395210)
rouge_2 0.01212121 0.00000000 (-0.01212121)
rouge_l 0.02395210 0.00000000 (-0.02395210)

Legend:

  • Metric : The evaluation metric name. Shown in bold red if the metric flipped between pass/fail status.
  • Baseline Score : The metric value for the baseline model. Shown in bold green if baseline won, red if lost.
  • Current Score : The metric value for the current model, followed by the delta from baseline in parentheses.
  • Delta Colors : Green = improvement, Orange = regression, Red = metric flipped to fail.
  • Winner Determination : For each metric, the winner is determined by comparing scores while considering the metric's directionality (higher is better vs. lower is better).
Baseline Result Current Result
Model claude-3-7-sonnet-20250219@h2ogpte claude-3-7-sonnet-20250219@h2ogpte
Question What is the time limit for a customer to contact the bank about an error or problem with a remittance transfer?
Expected answer 180 days
Actual Answer According to the document, a customer must contact the bank within 180 days of the date the bank promised that the funds would be made available to the recipient if they think there has been an error or problem with a remittance transfer. This information is found on page 43 of the "test-suite-call-center-50p.pdf" document, which states: "You must contact us within 180 days of the date we promised that the funds would be made available to the recipient." The document also provides instructions on how to report such errors, including calling 212-521-3234, emailing remiterror.nyb@statebank.com, or writing to the Remittance Section at State Bank of India, 460 Park Avenue, New York, NY-10022, USA. When contacting the bank about a remittance transfer error, customers should provide their name and contact information, describe the error or problem, provide the recipient's information, the dollar amount of the transfer, and the confirmation code or number of the transaction. MODEL HOST INTERNAL ERROR: Attempt #3 failed: timed out - Enterprise h2oGPTe host did not respond when its LLM model 'claude-3-7-sonnet-20250219' was used (collection ID: 1d5bd782-90b6-4697-bbb8-d1c4ca81f8e3) Traceback (most recent call last): File "/home/dvorka/h/mli/git/h2o-sonar/h2o_sonar/utils/testing.py", line 2114, in _complete_dataset_h2ogpte ] = self.rag_client.ask_collection( ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ File "/home/dvorka/h/mli/git/h2o-sonar/h2o_sonar/lib/integrations/genai.py", line 923, in ask_collection with self.client.connect(chat_session_id) as session: File "/home/dvorka/h/mli/git/h2o-sonar/.venv/lib/python3.11/site-packages/h2ogpte/session.py", line 543, in __enter__ self.connect() File "/home/dvorka/h/mli/git/h2o-sonar/.venv/lib/python3.11/site-packages/h2ogpte/session.py", line 146, in connect self._connection = ws_connect( ^^^^^^^^^^^ File "/home/dvorka/h/mli/git/h2o-sonar/.venv/lib/python3.11/site-packages/websockets/sync/client.py", line 247, in connect sock = socket.create_connection( ^^^^^^^^^^^^^^^^^^^^^^^^^ File "/usr/lib/python3.11/socket.py", line 863, in create_connection raise exceptions[0] File "/usr/lib/python3.11/socket.py", line 848, in create_connection sock.connect(sa) TimeoutError: timed out
Retrieved Context
State Bank of India New York Customer Manual for Deposits 55 (1) Tell us your name and account number (if any). (2) Describe the error or the transfer you are unsure about and explain as clearly as you can why you believe it is an error or why you need more information. (3) Tell us the dollar amount of the suspected error. If you inform us orally, we require that you send us your complaint or question in writing within 10 business days. We will determine whether an error occurred within 10 business days after we hear from you and will correct any error promptly. If we need more time, however, we may take up to 45 days to investigate your complaint or question. If we decide to do this, we will credit your account within 10 business days for the amount you think is in error, so that you will have the use of the money during the time it takes us to complete our investigation. If we ask you to put your complaint or question in writing and we do not receive it within 10 business days, we may not credit your account. For errors involving new accounts, point-of-sale, or foreign-initiated transactions, we may take up to 90 days to investigate your complaint or question. For new accounts, we may take up to 20 business days to credit your account for the amount you think is in error. We will tell you the results within three business days after completing our investigation. If we decide that there was no error, we will send you a written explanation. You may ask for copies of the documents that we used in our investigation. (b) Error resolution notice on periodic statements. In Case of Errors or Questions About Your Electronic Transfers telephone or write to us at the following address: State Bank of India Deposit Section 460 Park Avenue, New York, N.Y 10022 Tel: (212)521-3342/3318 as soon as you can, if you think your statement or receipt is wrong or if you need more information about a transfer on the statement or receipt. We must hear from you no later than 60 days after we sent you the FIRST statement on which the error or problem appeared. (1) Tell us your name and account number (if any). (2) Describe the error or the transfer you are unsure about and explain as clearly as you can why you believe it is an error or why you need more information. (3) Tell us the dollar amount of the suspected error. We will investigate your complaint and will correct any error promptly. If we take more than 10 business days to do this, we will credit your account for the amount you think is in error, so that you will have the use of the money during the time it takes us to complete our investigation. 10. Business Days: The Bank’s business days are Monday through Friday, 9:00 a.m. to 4:00 p.m ET (cash services available up to 3:00 pm ET only) not including bank legal holidays. 11.Disclosure of Account Information to Third Parties: We will disclose information to third parties about your account or the transfers you make: (i) Where it is necessary for completing transfers, or (ii) In order to verify the existence and condition of your account for a third party, such as a credit bureau or merchant, or (iii) In order to comply with government agency or court orders, or (iv) as described in our privacy policy included in this agreement.
State Bank of India New York Customer Manual for Deposits 53 c) If you tell us about the error orally, in person or by telephone, we require that you send us your complaint or question in writing within ten business days. d) We shall tell you the results of our preliminary investigation within 10 business days after we hear from you and will correct any error promptly. Sometimes we may take up to 45 days to investigate certain complaints or questions. In such cases, we will provisionally credit your Account upon your indemnifying us within 10 business days for the amount you think is in error, so that you may have the use of the money during the time it takes us to complete our investigation. If we ask you to put your complaint or question in writing and we do not receive it within 10 business days, we may not credit your Account. e) For errors involving new Accounts, point-of-sale, or foreign-initiated transactions, we may take up to 90 days to investigate your complaint or question. For new Accounts we may take up to 20 business days to credit your Account for the amount you think is in error. If we decide there was no error, we will send you a written explanation within three business days after we finish our investigation. You may ask for copies of the documents that we used in our investigation. 13. Anti-Money Laundering: The Bank, to the extent required by federal law under the USA PATRIOT Act and others, may keep records or make reports of high-dollar Transactions, suspicious activity, or foreign currency Transactions, as necessary to comply with the law and to detect and prevent illegal activity. There are serious civil and criminal consequences to engaging in illegal financial transactions. 14. Limitation of Bank’s Liability: The Bank shall not be liable to the Card Holder or to any third party, for any loss or damage suffered due to the following reasons: a) Any action carried out by the Bank, in good faith, based upon the instructions of the Card Holder, exercising due diligence and reasonable care; b) Any unauthorized and illegal Transactions occurring through the use of Bank Account(s), which can be attributed to the fraudulent or negligent conduct of the Card Holder, to the extent permitted by law; c) Any ATM or Merchant Establishment refusal to honor the Card, for whatever reason; d) Intrusion or hacking into the computer system/network or communication network of the Bank, to the extent permitted by law; e) Failure to carry out any instructions of the Card Holder due to insufficiency of balance in the Card Holder’s Account(s) or if the card Holder’s funds are subject to legal process or other restriction; f) Failure of the Card Holder to access the Account due to any Force Majeure Event, Technical Problems, or any other reason beyond the control of the Bank; g) Failure of the Card Holder to keep confidential and secure, PIN or any passwords, keywords or other identification marks given to the Card Holder for operating of the Account and/or Card; h) Failure of the Card Holder to inform the Bank regarding any changes in the Card Holder’s personal information; i) Breach of any of the other terms and conditions stated herein or in the Customer Manual by the Card Holder; j) Non-debiting of Transaction amount instantly through ATM or Merchant Transactions;
Lost or Stolen Card: If the Card is lost or stolen or someone has transferred funds from Card Holder’s Account without his/ her permission, the Card Holder must report the loss to the STAR Network immediately by calling the 24-hour toll-free number shown below or other numbers that may be numbers provided herein. If the Card Holder notifies the Bank within 2 business days of the loss or theft of the Card, the Card Holder’s loss due to unauthorized use of the Card is limited to $50. If the Card Holder does not notify the Bank within 2 business days of the loss or theft of the Card, and the Bank can prove that earlier notification could have prevented the use of the Card, the Card Holder’s liability for the loss could be as much as $500. If the theft is reported after 60 calendar days of the showing of fraud, the card holder may be liable for all unauthorized charges. If you believe that there has been un-authorized transaction(s) using your debit card, please contact us immediately. A Lost or Stolen Card may be reported by contacting: 1-800-523-4175. This toll-free number is available 24-hours a day. 12. Error Resolution: Disputes of ATM or Merchant Establishment Transactions appearing on the Card Holder’s Periodic Statement are subject to the Error Resolution Procedure as mentioned herein. Your rights to a refund or returned merchandise are generally the same as if you had paid by cash or check, and generally must be resolved with the merchant. a) You will get a monthly statement of your Checking/Money Market Account. If you think your statement or receipt is wrong or if you need more information about a transaction listed on the statement, or if you feel that there are other errors or if you have questions about your debit card transactions, please telephone or write to us at the following address: State Bank of India Deposit Section 460 Park Avenue, New York, N.Y 10022 Tel: (212)521-3200/3342 b) For error resolution, we must hear from you no later than 60 days after we sent the first statement on which the problem or error appeared. When writing to us about the error: • Tell us your name and Account number. • Describe the error or the transfer you are unsure about and explain as clearly as you can why you believe it is an error or why you need more information. • Tell us the dollar amount of the error.
State Bank of India New York Customer Manual for Deposits 42 otherwise incur on account of our provision of the Service to you and caused by your breach of our agreement or by your negligence, misconduct or other wrongful or illegal use of the Service. k. Privacy and Sharing and Use of Information. The information we obtain from you in connection with the Service may be confidential. We will maintain the confidentiality of such information in accordance with our normal procedures for safeguarding information regarding our customers and our Privacy Policy found elsewhere in this Manual. l. Special Rights Regarding “Remittance Transfers.” The Consumer Financial Protection Bureau’s Regulation E governs certain outgoing electronic international transactions initiated by consumers that are defined as “remittance transfers.” Included within the definition of a remittance transfer are wire transfers of funds from any of your consumer deposit or Money Market Deposit Accounts to third parties who are located, or whose accounts are located, in foreign countries. This means that when you request a remittance transfer: (1) You will receive specific disclosures about the details of the requested transfer before we will complete the transfer. (2) You have certain cancellation and refund rights in connection with the transfer if you change your mind within 30 minutes after making payment and the funds have not already been picked up or deposited into the recipient’s account. These rights are briefly summarized below. (3) You have certain rights if you suspect an error or problem with a remittance transfer. These rights are briefly summarized below. (4) We will send you a notice that we debited your account and you paid for the transfer. (5) Certain provisions of this Manual, which limit our liability to you or make you responsible for losses in various circumstances, do not apply and our or your liability or responsibility is instead governed by the Regulation E remittance transfer rules. Among other things, those rules provide that if you give us the incorrect account number or recipient institution identifier, you could lose the transfer amount. (6) There may also be other provisions of this Manual, that are inconsistent with certain rights or responsibilities of you or us under the Regulation E remittance transfer rules. In the event of any such inconsistency, Regulation E will control and this Manual, will be deemed modified so as to be consistent with the remittance transfer rules, without affecting the validity of any other provisions of the Manual. What to do if you want to cancel a remittance transfer: You have the right to cancel a remittance transfer and obtain a refund of all funds paid to us, including any fees. To cancel, you must contact us: by telephone at (212)-521-3234; by email at cancelremit.nyb@statebank.com or in person at the Bank within 30 minutes of making payment for the transfer. If you have initiated the remittance through new “YONO US Portal”, you can use the Cancellation facility within 30 minutes of creation of transaction to self-cancel the transfer. When you contact us, you must provide us with information to help us identify the transfer you wish to cancel, including your name, address and telephone number, the amount and location where the funds were to be sent and any identification number we have provided for you in connection with the transfer. We will refund your money within three business days of your request to cancel a transfer, as long as the funds have not already been picked up or deposited into the recipient’s
State Bank of India New York Customer Manual for Deposits 43 account. What to do if you think there has been an error or problem with a remittance transfer: (1) Call us at 212-521-3234; or email at remiterror.nyb@statebank.com (2) Write to us at Remittance Section, State Bank of India, 460 Park Avenue, New York, NY-10022, USA. You must contact us within 180 days of the date we promised that the funds would be made available to the recipient. When you do, please tell us: (1) Your name and telephone number or address; (2) The error or problem with the transfer, and why you believe it is an error or problem; (3) The name of the person receiving the funds, and if you know it, his or her telephone number or address; (4) The dollar amount of the transfer; and (5) The confirmation code or number of the transaction. We will determine whether an error occurred within 90 days after you contact us, and we will correct any error promptly. We will tell you the results within three business days after completing our investigation. If we decide that there was no error, we will send you a written explanation. You may ask for copies of any documents we used in our investigation. 11. Internet Banking/ YONO US Portal: a. Internet Services This section of the Manual describes your use of the Bank’s Online Internet-based Banking Service (“Internet Banking”). By using the new Internet Banking, you may:  Open an account (Currently, this facility is not available)  Obtain account balance and other banking information  Transfer funds between own accounts  Transfer funds to other Banks within USA through Wire Transfers*  Transfer INR to India*  Transfer USD to any Bank outside USA too*  Send secure messages to the Bank  Order new checks / Stop Checks*  Uploading documents as attachment through Secure Message Platform  Pull fund from own accounts with other U.S. banks *Charges may apply b. Internet Banking Terms of Service You may enroll in our new Internet Banking at our website at https://sbinewyork.statebank/online- banking . Once you enroll on the new portal, you will have access to your account information for viewing purposes only. In order to obtain transaction rights in online banking mode, you must apply for Transaction Rights under “Requests/Services” Tab. The request shall be approved by the Bank upon receipt. During the enrollment process you will be presented with a copy of the Bank’s Online Banking Terms of Service. The Online Banking Terms of Service governs your use of the SBI Online Banking Services. Use of Internet Banking is expressly conditioned on your acceptance of these Online Banking Terms of Service. By using the Internet Banking, you acknowledge that you have read and agree to abide by the terms and conditions of these Online Banking Terms of Service. If you
State Bank of India New York Customer Manual for Deposits 41 We may send the wire through such correspondents as appear appropriate to us in our sole discretion and we shall not be liable for their neglect or negligence. We are not under any obligation to detect errors or inconsistencies in any of your instructions. We will not be liable for any losses caused by errors or inaccuracies in your instructions. We will have the right, in our sole discretion, to reject any instructions, to set exposure limits on the amounts you may wire and impose additional conditions that must be satisfied before we will accept any instructions. i. Limits on Remittances. You will provide a statement of the purpose of the remittance. You may not transfer more than our specified maximum dollar limit in any single day. We may change any of the foregoing limits in our discretion at any time. Remittances may not be sent by us through or into any country in violation of U.S. laws. We will charge to and debit from the account identified in the instruction the amount of money specified in the instruction to be paid to the beneficiary designated therein and all fees and any costs and expenses. You must verify, prior to issuing an instruction for us to initiate a remittance, that funds are available in your account for us to initiate the remittance. If there are insufficient funds, we may, in our sole discretion: (i) execute the transaction, in which event, immediately upon our demand, you will pay to us all amounts sent and all fees and costs and expenses associated with the transfer; (ii) delay the remittance; or (iii) cancel the instruction and not complete the remittance. We will not have any liability to you or any other person for losses incurred by you or any other person when a remittance is not completed because there are not sufficient funds available. j. Limits on Liability and Indemnification. EXCEPT AS PROVIDED IN EXPRESS TERMS TO THE CONTRARY IN THIS MANUAL, THE SERVICE IS PROVIDED ON AN “AS IS”, “AS AVAILABLE” BASIS. WE MAKE NO WARRANTY, EXPRESS OR IMPLIED, TO YOU OR ANY OTHER PERSON REGARDING THE SERVICE, INCLUDING ANY WARRANTY OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE OR NONINFRINGEMENT. Subject to the limitations on our liability set forth in this Agreement, we will have liability to you for any losses you suffer or incur as a direct result of a material breach of this Agreement by us or as a direct result of our gross negligence or intentional misconduct in performing or failing to perform the Service. Our liability will be limited, however, as follows: (i) for delays in payment, our total liability to you or any person, including the beneficiary, will be limited to payment of interest for the period of delay; (ii) for non-completion of the instructions, our total liability to any person, including you, will be limited to reimbursement to such person of his or her actual out-of-pocket expenses in the funds transfer, and any actual out-of-pocket incidental expenses and interest losses; and (iii) for any other cause, the aggregate amount of the fees and charges paid by you to us for the Service during the prior 6 months. We will not be liable to you or any other person for, and you release us from liability with respect to (i) any indirect, consequential, special, incidental, exemplary or punitive damages, including loss of profits, loss of business or loss of data; or (ii) attorneys’ fees or fees of other professionals. You will fully indemnify us and hold us harmless, from and against all losses we may suffer or
b) The Bank shall be entitled to terminate the Card with immediate effect without notice and the Card shall be returned upon the occurrence of any of the following events: • Card Holder’s failure to comply with the terms and conditions herein. • The Card Holder’s default under an agreement or commitment entered into with the Bank. • The Card Holder becomes the subject of any bankruptcy, insolvency proceedings or proceedings of the similar nature. • Demise of the Cardholder. • Failure to maintain minimum required balance to cover transactions. s. Error Resolution: Disputes of ATM or Merchant Establishment Transactions appearing on the Card Holder’s Periodic Statement are subject to the Error Resolution Procedure as mentioned herein. Your rights to a refund or returned merchandise are generally the same as if you had paid by cash or check, and generally must be resolved with the merchant. You will get a monthly statement of your Checking/Money Market account, if the account is not inactive or dormant, which will contain the details of your Debit Card transactions. If you think your statement or receipt is wrong or if you need more information about a transaction listed on the statement, or if you feel that there are other errors or if you have questions about your debit card transactions, please follow the procedures listed here: a) Initial and annual error resolution In Case of Errors or Questions About Your Electronic Transfers telephone or write to us at the following address: State Bank of India Deposit Section 460 Park Avenue, New York, N.Y 10022 Tel: (212)521-3342/3318 as soon as you can, if you think your statement or receipt is wrong or if you need more information about a transfer listed on the statement or receipt. We must hear from you no later than 60 days after we sent the FIRST statement on which the problem or error appeared.
State Bank of India New York Customer Manual for Deposits 51 allow the Card Holder to cancel a hold within MasterCard limits for Transactions that were authorized by the Card Holder. If, however, the Card Holder suspects that a Transaction was fraudulent or otherwise unauthorized, the Card Holder should contact the Merchant and the Bank for possible ways to chargeback the debit. Please see the Error Resolution Procedures in subsequent paras for more information. 10. Cancellation of pre-authorized Transactions scheduled at regular intervals: While a Card Holder is generally not permitted to cancel Debit Card Transactions and holds, the cardholder is permitted to cancel, or place a stop payment, on a pre-authorized transaction scheduled to occur at regular intervals, such as a monthly utility payment or loan installment. Before requesting the Bank for stopping a recurring payment, the cardholder should take up with the merchant/ beneficiary for cancelling/ stopping such payment. The Bank may require details of such request made to the merchant/ beneficiary for acting upon Card Holder’s request. The Card Holder must give the Bank written instructions to cancel or stop such a payment at least three (3) days prior to the scheduled debit. The stop payment instruction should be accompanied with a letter of indemnity signed by the Account holder/ Card Holder. The stop order takes effect when it is recorded on your Account. In case of a pre-authorized recurring transaction, we will need the amount, the scheduled date of debit, name of the beneficiary. In the absence of complete and correct particulars, the stop order would be ineffective. If we fail to stop a payment and if you have requested us well in time and with all the particulars as detailed above, we will be liable for your losses or damages. An oral order is binding upon the Bank only for fourteen days unless confirmed in writing within that period. A written order is effective for only six months unless renewed/cancelled in writing. You may inquire about the status of a pre-authorized transaction by calling us on 212-521-3342 on a business day and during the business hours. A fee of USD 10.00 will be charged for each stop payment request made.
State Bank of India New York Customer Manual for Deposits 40 from time to time. Our decision to approve your request to use the Service is within our sole discretion. Your rights in using the Service are governed by the terms set forth in this Manual and by any receipt or disclosures you receive at the time that you arrange for a remittance transfer. f. Fees. You will be assessed fees and other charges associated with the Service as detailed in the “Schedule of Fees & Charges” in this Manual. We reserve the right to change from time to time our fees and other charges. Our fees and charges will also be disclosed in the documentation you receive at the time that you arrange for a remittance transfer. g. Cancellation, Amendment and Termination. We may suspend or cancel the Service in our sole discretion. We may also limit or restrict your use of the Service, as provided below, in our sole discretion. If you wish to cancel a remittance more than 30 minutes after you have paid us, we will endeavor to do so if possible. Likewise, if you wish to amend an instruction that you have given us more than 30 minutes after you have paid us, we will endeavor to do so if possible. You may be charged a fee for such cancellations or amendments. h. Instructions. It is your responsibility to ensure that we are provided with accurate, clear, and correct instructions regarding your remittances. In case the remitter provides incorrect beneficiary account details or the remittance is returned by beneficiary bank for any reason, the remittance may be recalled by the branch and the amount so recalled would be converted at prevalent (INR-USD) purchase rate. We may refuse to accept instructions from anyone other than you in our sole discretion. We may also refuse to execute any remittance requests which are incomplete. You will strictly adhere to the security procedures applicable from time to time to the Service. Bank reserves the right to ask for any additional documents before/after processing the remittance. For remittances to NGOs/charitable purpose, the customer will have to provide the copy of updated FCRA (Foreign Contribution Regulation Act) certificate. The Bank reserves the right to not process the remittance if the FCRA (Foreign Contribution Regulation Act) number is not valid based on confirmation from Ministry of Home Affairs website of Government of India. All the remittance requests received at the SBI New York are subject to approval of our internal Compliance department. We may seek any additional information regarding the remittance like purpose of transactions, specific details about beneficiary etc. before executing the remittance. We may refuse to execute the remittance if the additional information sought is not provided by the remitter. If the beneficiary’s account number that you provide does not correspond to the name of the beneficiary that you provide, we will not be liable for losses resulting from the beneficiary’s financial institution paying the wrong person or does not accept the wire or places the funds in a suspense account pending clarification. We will not be liable to you or any other person for any losses resulting from the beneficiary’s financial institution accepting and posting any wire transfer to an incorrect account. We will also not be liable to you or the beneficiary of the wire or any other person for any fees that may be deducted by the beneficiary’s financial institution. We will not be liable for losses resulting from your failure to properly identify the financial institution where the beneficiary maintains an account.
State Bank of India New York Customer Manual for Deposits 39 a. Funds Transfer Services to India Remittances can be sent both in US dollars and in Indian rupees, at your option. At What Rate Are Dollars Converted to Rupees? For remittances in Rupees, the conversion of US dollars into rupees will be done at the rate determined by SBI New York on the day and time of the conversion. For remittances in US dollars to India the funds will be converted into Rupees based on the laws and banking practice prevailing in India. Modes of Transfer of Funds Remittances can be sent through Wire transfer. Please note that Wire transfers in dollars can be sent only to those authorized branches of Banks where SWIFT facilities are available. While all efforts will be made to ensure timely delivery of funds to the beneficiaries, the Bank shall not be under any liability for any errors, negligence, default or any failure on the part of the remitting customer in furnishing vital information for good delivery of the funds. Please read the Terms and Conditions for the remittance mentioned on the remittance forms. b. Transfer of Funds to Other Banks in the U.S. Funds can be transferred to other banks in the U.S. through CHIPS or Fedwire, as we are members of both of these systems. Our ABA routing number is 0260-0914-0 and CHIPS UID is 034282. c. Transfer of Funds to Other Countries We can also transfer your funds to accounts in banks in foreign countries other than India through our correspondents. You may advise us the intermediary bank of your beneficiary’s Bank, wherever required. We can also quote firm exchange rates and effect remittances through our correspondents, in the following currencies: GBP, EUR, CAD, JPY, CHF, AUD, NPR, LKR, BDT Remittances in other currencies can be offered depending upon the volume of business and availability of correspondent relationship in that currency. d. How to Apply for a Remittance Request for remittance services mentioned in a, b, c above should be made through Internet Banking (online and offline) through our website (https://sbinewyork.statebank) or by submission of our prescribed application form. The remittance application form is available on our website https://sbinewyork.statebank. Individual customers can submit the form alongwith a copy of valid photo ID over the counter at the Branch or mail the set to the Branch. The Bank will not accept remittance form through fax or e-mail for individual customers. See “Schedule of Fees & Charges” in this Manual for applicable charges. e. Use of the Remittance Service (the “Service”) The Service is available for use only by individuals and corporate customers who are account holders at the Bank. The Service will permit you to issue non-repetitive orders for us to transfer funds from your account to accounts at other domestic or international financial institutions, in amounts up to any daily limits or individual customer limits which we may establish and change in our discretion
No context available

Test Case

Question: How long does the Bank have to investigate a complaint or question about a remittance transfer?

Metric Baseline Score Current Score
answer_accuracy 0.00922266 0.00700701 (-0.00221565)
groundedness 0.89456628 0.86387214 (-0.03069415)
mean_answer_similarity 0.77982599 0.81717488 (+0.03734889)
mean_reciprocal_rank 1.00000000 1.00000000
min_answer_similarity 0.71287417 0.75419719 (+0.04132302)
model_failures 0.00000000 0.00000000
model_generation_failures 0.00000000 0.00000000
model_parse_failures 0.00000000 0.00000000
model_passes 1.00000000 1.00000000
model_retrieval_failures 0.00000000 0.00000000
precision_relevancy 0.87328151 0.87383587 (+0.00055435)
recall_relevancy 0.90362641 0.90362641
rouge_1 0.03225806 0.02564103 (-0.00661704)
rouge_2 0.01639344 0.01298701 (-0.00340643)
rouge_l 0.03225806 0.02564103 (-0.00661704)

Legend:

  • Metric : The evaluation metric name. Shown in bold red if the metric flipped between pass/fail status.
  • Baseline Score : The metric value for the baseline model. Shown in bold green if baseline won, red if lost.
  • Current Score : The metric value for the current model, followed by the delta from baseline in parentheses.
  • Delta Colors : Green = improvement, Orange = regression, Red = metric flipped to fail.
  • Winner Determination : For each metric, the winner is determined by comparing scores while considering the metric's directionality (higher is better vs. lower is better).
Baseline Result Current Result
Model claude-3-7-sonnet-20250219@h2ogpte claude-3-7-sonnet-20250219@h2ogpte
Question How long does the Bank have to investigate a complaint or question about a remittance transfer?
Expected answer 90 days
Actual Answer According to the document, the Bank has 90 days to investigate a complaint or question about a remittance transfer. This is stated on page 43 of the "Customer Manual for Deposits" where it explains the process for reporting errors or problems with remittance transfers. The document specifically states: "We will determine whether an error occurred within 90 days after you contact us, and we will correct any error promptly." The document also mentions that the Bank will inform the customer of the results of their investigation within three business days after completing the investigation. If the Bank determines there was no error, they will send a written explanation to the customer, who may request copies of any documents used in the investigation. According to the document, the Bank has 90 days to investigate a complaint or question about a remittance transfer. This is specifically mentioned on page 53 of the Customer Manual for Deposits, which states: "For errors involving new Accounts, point-of-sale, or foreign-initiated transactions, we may take up to 90 days to investigate your complaint or question." Since remittance transfers are foreign-initiated transactions, they fall under this 90-day investigation timeframe. The document also mentions that for regular electronic fund transfers, the Bank typically has 10 business days for a preliminary investigation, but may take up to 45 days for a complete investigation. However, for remittance transfers specifically, the longer 90-day period applies. Additionally, the document states that the Bank will tell the customer the results of their investigation within three business days after completing it, and if they determine there was no error, they will send a written explanation.
Retrieved Context
State Bank of India New York Customer Manual for Deposits 55 (1) Tell us your name and account number (if any). (2) Describe the error or the transfer you are unsure about and explain as clearly as you can why you believe it is an error or why you need more information. (3) Tell us the dollar amount of the suspected error. If you inform us orally, we require that you send us your complaint or question in writing within 10 business days. We will determine whether an error occurred within 10 business days after we hear from you and will correct any error promptly. If we need more time, however, we may take up to 45 days to investigate your complaint or question. If we decide to do this, we will credit your account within 10 business days for the amount you think is in error, so that you will have the use of the money during the time it takes us to complete our investigation. If we ask you to put your complaint or question in writing and we do not receive it within 10 business days, we may not credit your account. For errors involving new accounts, point-of-sale, or foreign-initiated transactions, we may take up to 90 days to investigate your complaint or question. For new accounts, we may take up to 20 business days to credit your account for the amount you think is in error. We will tell you the results within three business days after completing our investigation. If we decide that there was no error, we will send you a written explanation. You may ask for copies of the documents that we used in our investigation. (b) Error resolution notice on periodic statements. In Case of Errors or Questions About Your Electronic Transfers telephone or write to us at the following address: State Bank of India Deposit Section 460 Park Avenue, New York, N.Y 10022 Tel: (212)521-3342/3318 as soon as you can, if you think your statement or receipt is wrong or if you need more information about a transfer on the statement or receipt. We must hear from you no later than 60 days after we sent you the FIRST statement on which the error or problem appeared. (1) Tell us your name and account number (if any). (2) Describe the error or the transfer you are unsure about and explain as clearly as you can why you believe it is an error or why you need more information. (3) Tell us the dollar amount of the suspected error. We will investigate your complaint and will correct any error promptly. If we take more than 10 business days to do this, we will credit your account for the amount you think is in error, so that you will have the use of the money during the time it takes us to complete our investigation. 10. Business Days: The Bank’s business days are Monday through Friday, 9:00 a.m. to 4:00 p.m ET (cash services available up to 3:00 pm ET only) not including bank legal holidays. 11.Disclosure of Account Information to Third Parties: We will disclose information to third parties about your account or the transfers you make: (i) Where it is necessary for completing transfers, or (ii) In order to verify the existence and condition of your account for a third party, such as a credit bureau or merchant, or (iii) In order to comply with government agency or court orders, or (iv) as described in our privacy policy included in this agreement.
State Bank of India New York Customer Manual for Deposits 53 c) If you tell us about the error orally, in person or by telephone, we require that you send us your complaint or question in writing within ten business days. d) We shall tell you the results of our preliminary investigation within 10 business days after we hear from you and will correct any error promptly. Sometimes we may take up to 45 days to investigate certain complaints or questions. In such cases, we will provisionally credit your Account upon your indemnifying us within 10 business days for the amount you think is in error, so that you may have the use of the money during the time it takes us to complete our investigation. If we ask you to put your complaint or question in writing and we do not receive it within 10 business days, we may not credit your Account. e) For errors involving new Accounts, point-of-sale, or foreign-initiated transactions, we may take up to 90 days to investigate your complaint or question. For new Accounts we may take up to 20 business days to credit your Account for the amount you think is in error. If we decide there was no error, we will send you a written explanation within three business days after we finish our investigation. You may ask for copies of the documents that we used in our investigation. 13. Anti-Money Laundering: The Bank, to the extent required by federal law under the USA PATRIOT Act and others, may keep records or make reports of high-dollar Transactions, suspicious activity, or foreign currency Transactions, as necessary to comply with the law and to detect and prevent illegal activity. There are serious civil and criminal consequences to engaging in illegal financial transactions. 14. Limitation of Bank’s Liability: The Bank shall not be liable to the Card Holder or to any third party, for any loss or damage suffered due to the following reasons: a) Any action carried out by the Bank, in good faith, based upon the instructions of the Card Holder, exercising due diligence and reasonable care; b) Any unauthorized and illegal Transactions occurring through the use of Bank Account(s), which can be attributed to the fraudulent or negligent conduct of the Card Holder, to the extent permitted by law; c) Any ATM or Merchant Establishment refusal to honor the Card, for whatever reason; d) Intrusion or hacking into the computer system/network or communication network of the Bank, to the extent permitted by law; e) Failure to carry out any instructions of the Card Holder due to insufficiency of balance in the Card Holder’s Account(s) or if the card Holder’s funds are subject to legal process or other restriction; f) Failure of the Card Holder to access the Account due to any Force Majeure Event, Technical Problems, or any other reason beyond the control of the Bank; g) Failure of the Card Holder to keep confidential and secure, PIN or any passwords, keywords or other identification marks given to the Card Holder for operating of the Account and/or Card; h) Failure of the Card Holder to inform the Bank regarding any changes in the Card Holder’s personal information; i) Breach of any of the other terms and conditions stated herein or in the Customer Manual by the Card Holder; j) Non-debiting of Transaction amount instantly through ATM or Merchant Transactions;
State Bank of India New York Customer Manual for Deposits 43 account. What to do if you think there has been an error or problem with a remittance transfer: (1) Call us at 212-521-3234; or email at remiterror.nyb@statebank.com (2) Write to us at Remittance Section, State Bank of India, 460 Park Avenue, New York, NY-10022, USA. You must contact us within 180 days of the date we promised that the funds would be made available to the recipient. When you do, please tell us: (1) Your name and telephone number or address; (2) The error or problem with the transfer, and why you believe it is an error or problem; (3) The name of the person receiving the funds, and if you know it, his or her telephone number or address; (4) The dollar amount of the transfer; and (5) The confirmation code or number of the transaction. We will determine whether an error occurred within 90 days after you contact us, and we will correct any error promptly. We will tell you the results within three business days after completing our investigation. If we decide that there was no error, we will send you a written explanation. You may ask for copies of any documents we used in our investigation. 11. Internet Banking/ YONO US Portal: a. Internet Services This section of the Manual describes your use of the Bank’s Online Internet-based Banking Service (“Internet Banking”). By using the new Internet Banking, you may:  Open an account (Currently, this facility is not available)  Obtain account balance and other banking information  Transfer funds between own accounts  Transfer funds to other Banks within USA through Wire Transfers*  Transfer INR to India*  Transfer USD to any Bank outside USA too*  Send secure messages to the Bank  Order new checks / Stop Checks*  Uploading documents as attachment through Secure Message Platform  Pull fund from own accounts with other U.S. banks *Charges may apply b. Internet Banking Terms of Service You may enroll in our new Internet Banking at our website at https://sbinewyork.statebank/online- banking . Once you enroll on the new portal, you will have access to your account information for viewing purposes only. In order to obtain transaction rights in online banking mode, you must apply for Transaction Rights under “Requests/Services” Tab. The request shall be approved by the Bank upon receipt. During the enrollment process you will be presented with a copy of the Bank’s Online Banking Terms of Service. The Online Banking Terms of Service governs your use of the SBI Online Banking Services. Use of Internet Banking is expressly conditioned on your acceptance of these Online Banking Terms of Service. By using the Internet Banking, you acknowledge that you have read and agree to abide by the terms and conditions of these Online Banking Terms of Service. If you
q. Unauthorized Transactions: Tell us at once if you believe your Card has been lost or stolen, or if you believe that an electronic fund transfer has been made without your permission. Telephoning is the best way of keeping your possible losses down. If you tell us within 2 business days after you learn of the loss or theft of your Card, you can lose no more than $50 if someone used your Card without your permission.) If you do NOT tell us within 2 business days after you learn of the loss or theft of your Card, and we can prove we could have stopped someone from using your Card without your permission if you had told us, you could lose as much as $500. Also, if your statement shows transfers that you did not make, including those made by card, code or other means, tell us at once. If you do not tell us within 60 days after the statement was mailed to you, you may not get back any money you lost after the 60 days if we can prove that we could have stopped someone from taking the money if you had told us in time. If a good reason (such as a long trip or a hospital stay) kept you from telling us, we will extend the time periods. A Lost or Stolen Card may be reported by contacting: 1-800-523-4175. This toll-free number is available 24-hours a day. In case you wish to send us letter, our address is State Bank of India, Deposit Section, 460 Park Avenue, New York, NY 10022, USA. For purposes of these disclosures, our business days are Monday through Friday. All federal and state bank holidays are not included. Kindly read the Debit Card Agreement available as Annexure B on page 49 for more information relating to Debit Card Services. 10. Remittances: The minimum amount for initiating a remittance is USD 100.00 or its equivalent in other currencies.
State Bank of India New York Customer Manual for Deposits 42 otherwise incur on account of our provision of the Service to you and caused by your breach of our agreement or by your negligence, misconduct or other wrongful or illegal use of the Service. k. Privacy and Sharing and Use of Information. The information we obtain from you in connection with the Service may be confidential. We will maintain the confidentiality of such information in accordance with our normal procedures for safeguarding information regarding our customers and our Privacy Policy found elsewhere in this Manual. l. Special Rights Regarding “Remittance Transfers.” The Consumer Financial Protection Bureau’s Regulation E governs certain outgoing electronic international transactions initiated by consumers that are defined as “remittance transfers.” Included within the definition of a remittance transfer are wire transfers of funds from any of your consumer deposit or Money Market Deposit Accounts to third parties who are located, or whose accounts are located, in foreign countries. This means that when you request a remittance transfer: (1) You will receive specific disclosures about the details of the requested transfer before we will complete the transfer. (2) You have certain cancellation and refund rights in connection with the transfer if you change your mind within 30 minutes after making payment and the funds have not already been picked up or deposited into the recipient’s account. These rights are briefly summarized below. (3) You have certain rights if you suspect an error or problem with a remittance transfer. These rights are briefly summarized below. (4) We will send you a notice that we debited your account and you paid for the transfer. (5) Certain provisions of this Manual, which limit our liability to you or make you responsible for losses in various circumstances, do not apply and our or your liability or responsibility is instead governed by the Regulation E remittance transfer rules. Among other things, those rules provide that if you give us the incorrect account number or recipient institution identifier, you could lose the transfer amount. (6) There may also be other provisions of this Manual, that are inconsistent with certain rights or responsibilities of you or us under the Regulation E remittance transfer rules. In the event of any such inconsistency, Regulation E will control and this Manual, will be deemed modified so as to be consistent with the remittance transfer rules, without affecting the validity of any other provisions of the Manual. What to do if you want to cancel a remittance transfer: You have the right to cancel a remittance transfer and obtain a refund of all funds paid to us, including any fees. To cancel, you must contact us: by telephone at (212)-521-3234; by email at cancelremit.nyb@statebank.com or in person at the Bank within 30 minutes of making payment for the transfer. If you have initiated the remittance through new “YONO US Portal”, you can use the Cancellation facility within 30 minutes of creation of transaction to self-cancel the transfer. When you contact us, you must provide us with information to help us identify the transfer you wish to cancel, including your name, address and telephone number, the amount and location where the funds were to be sent and any identification number we have provided for you in connection with the transfer. We will refund your money within three business days of your request to cancel a transfer, as long as the funds have not already been picked up or deposited into the recipient’s
State Bank of India New York Customer Manual for Deposits 22 The Bank also reserves the right to close your accounts without any prior notice for any reason in the Bank’s sole discretion. The Bank will mail you a check for the balance in the accounts. The Bank may give you notice before taking this step, although we are not obliged to do so. We also reserve the right to close your account if your account has a NIL balance for more than three (3) months. Payment of interest on your account (if your account is interest-bearing) will cease from the date of closure of the account. Checking and Money Market Deposit Accounts cannot be negotiated or transferred to another individual or corporation or entity. o. Bank’s Liability: If the Bank does not complete a transfer to or from your account in time or for the correct amount as per your agreement with us, we will be liable for your direct losses or damages but not any indirect costs or punitive costs or damages. However, the Bank will not be liable in circumstances such as:  The funds in your account are not sufficient to affect the transfer  The automated teller machine where you were making the transfer has a communication failure.  The automated teller machine did not have enough cash  If circumstances beyond our control prevent the transfer.  If we are unable to confirm the transaction with you (if required)  Any other exceptions stated in our agreement with you.
State Bank of India New York Customer Manual for Deposits 24 IMPORTANT INFORMATION ABOUT SUBSTITUTE CHECKS AND YOUR RIGHTS What is a substitute check? To make check processing faster, federal law permits banks to replace original checks with "substitute checks." These checks are similar to original checks with a slightly reduced image of the front and back of the original check. The front of a substitute check states: "This is a legal copy of your check. You can use it the same way you would use the original check." You may use a substitute check as proof of payment just like the original check. Some or all of the checks that you receive back from us may be substitute checks. This notice describes rights you have when you receive substitute checks from us. The rights in this notice do not apply to original checks or to electronic debits to your account. However, you have rights under other law with respect to those transactions. What are your rights regarding substitute check? In certain cases, federal law provides a special procedure that allows you to request a refund for losses you suffer if a substitute check is posted to your account (for example, if you think that we withdrew the wrong amount from your account or that we withdrew money from your account more than once for the same check). The losses you may attempt to recover under this procedure may include the amount that was withdrawn from your account and fees that were charged as a result of the withdrawal (for example, bounced check fees). The amount of your refund under this procedure is limited to the amount of your loss or the amount of the substitute check, whichever is less. You also are entitled to interest on the amount of your refund if your account is an interest-bearing account. If your loss exceeds the amount of the substitute check, you may be able to recover additional amounts under other law. If you use this procedure, you may receive up to $2,500 of your refund (plus interest if your account earns interest) within 10 business days after we received your claim and the remainder of your refund (plus interest if your account earns interest) not later than 45 calendar days after we received your claim. We may reverse the refund (including any interest on the refund) if we later are able to demonstrate that the substitute check was correctly posted to your account. How can you make a claim for a refund? If you believe that you have suffered a loss relating to a substitute check that you received and that was posted to your account, please contact us by phone at (212)521-3286/3318 or by postal mail at our mailing address. You must contact us within 40 calendar days of the date that we mailed (or otherwise delivered by a means to which you agreed) the substitute check in question or the account statement showing that the substitute check was posted to your account, whichever is later. We may extend this time period if you were not able to make a timely claim because of extraordinary circumstances. Your claim must be made in writing on the prescribed form, be signed by you and include: A description of why you have suffered a loss (e.g. you think the amount withdrawn was incorrect); An estimate of the amount of your loss;
State Bank of India New York Customer Manual for Deposits 39 a. Funds Transfer Services to India Remittances can be sent both in US dollars and in Indian rupees, at your option. At What Rate Are Dollars Converted to Rupees? For remittances in Rupees, the conversion of US dollars into rupees will be done at the rate determined by SBI New York on the day and time of the conversion. For remittances in US dollars to India the funds will be converted into Rupees based on the laws and banking practice prevailing in India. Modes of Transfer of Funds Remittances can be sent through Wire transfer. Please note that Wire transfers in dollars can be sent only to those authorized branches of Banks where SWIFT facilities are available. While all efforts will be made to ensure timely delivery of funds to the beneficiaries, the Bank shall not be under any liability for any errors, negligence, default or any failure on the part of the remitting customer in furnishing vital information for good delivery of the funds. Please read the Terms and Conditions for the remittance mentioned on the remittance forms. b. Transfer of Funds to Other Banks in the U.S. Funds can be transferred to other banks in the U.S. through CHIPS or Fedwire, as we are members of both of these systems. Our ABA routing number is 0260-0914-0 and CHIPS UID is 034282. c. Transfer of Funds to Other Countries We can also transfer your funds to accounts in banks in foreign countries other than India through our correspondents. You may advise us the intermediary bank of your beneficiary’s Bank, wherever required. We can also quote firm exchange rates and effect remittances through our correspondents, in the following currencies: GBP, EUR, CAD, JPY, CHF, AUD, NPR, LKR, BDT Remittances in other currencies can be offered depending upon the volume of business and availability of correspondent relationship in that currency. d. How to Apply for a Remittance Request for remittance services mentioned in a, b, c above should be made through Internet Banking (online and offline) through our website (https://sbinewyork.statebank) or by submission of our prescribed application form. The remittance application form is available on our website https://sbinewyork.statebank. Individual customers can submit the form alongwith a copy of valid photo ID over the counter at the Branch or mail the set to the Branch. The Bank will not accept remittance form through fax or e-mail for individual customers. See “Schedule of Fees & Charges” in this Manual for applicable charges. e. Use of the Remittance Service (the “Service”) The Service is available for use only by individuals and corporate customers who are account holders at the Bank. The Service will permit you to issue non-repetitive orders for us to transfer funds from your account to accounts at other domestic or international financial institutions, in amounts up to any daily limits or individual customer limits which we may establish and change in our discretion
State Bank of India New York Customer Manual for Deposits 41 We may send the wire through such correspondents as appear appropriate to us in our sole discretion and we shall not be liable for their neglect or negligence. We are not under any obligation to detect errors or inconsistencies in any of your instructions. We will not be liable for any losses caused by errors or inaccuracies in your instructions. We will have the right, in our sole discretion, to reject any instructions, to set exposure limits on the amounts you may wire and impose additional conditions that must be satisfied before we will accept any instructions. i. Limits on Remittances. You will provide a statement of the purpose of the remittance. You may not transfer more than our specified maximum dollar limit in any single day. We may change any of the foregoing limits in our discretion at any time. Remittances may not be sent by us through or into any country in violation of U.S. laws. We will charge to and debit from the account identified in the instruction the amount of money specified in the instruction to be paid to the beneficiary designated therein and all fees and any costs and expenses. You must verify, prior to issuing an instruction for us to initiate a remittance, that funds are available in your account for us to initiate the remittance. If there are insufficient funds, we may, in our sole discretion: (i) execute the transaction, in which event, immediately upon our demand, you will pay to us all amounts sent and all fees and costs and expenses associated with the transfer; (ii) delay the remittance; or (iii) cancel the instruction and not complete the remittance. We will not have any liability to you or any other person for losses incurred by you or any other person when a remittance is not completed because there are not sufficient funds available. j. Limits on Liability and Indemnification. EXCEPT AS PROVIDED IN EXPRESS TERMS TO THE CONTRARY IN THIS MANUAL, THE SERVICE IS PROVIDED ON AN “AS IS”, “AS AVAILABLE” BASIS. WE MAKE NO WARRANTY, EXPRESS OR IMPLIED, TO YOU OR ANY OTHER PERSON REGARDING THE SERVICE, INCLUDING ANY WARRANTY OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE OR NONINFRINGEMENT. Subject to the limitations on our liability set forth in this Agreement, we will have liability to you for any losses you suffer or incur as a direct result of a material breach of this Agreement by us or as a direct result of our gross negligence or intentional misconduct in performing or failing to perform the Service. Our liability will be limited, however, as follows: (i) for delays in payment, our total liability to you or any person, including the beneficiary, will be limited to payment of interest for the period of delay; (ii) for non-completion of the instructions, our total liability to any person, including you, will be limited to reimbursement to such person of his or her actual out-of-pocket expenses in the funds transfer, and any actual out-of-pocket incidental expenses and interest losses; and (iii) for any other cause, the aggregate amount of the fees and charges paid by you to us for the Service during the prior 6 months. We will not be liable to you or any other person for, and you release us from liability with respect to (i) any indirect, consequential, special, incidental, exemplary or punitive damages, including loss of profits, loss of business or loss of data; or (ii) attorneys’ fees or fees of other professionals. You will fully indemnify us and hold us harmless, from and against all losses we may suffer or
State Bank of India New York Customer Manual for Deposits 44 decide not to agree to the terms and conditions discussed therein, you may not use Internet Banking. The Online Banking Terms of Service govern Internet Banking and supersede any inconsistent agreements or requirements. However, the terms of this Manual will govern and supersede any inconsistent statements contained in the Online Banking Terms of Service with regard to the (i) types of accounts that you may have with the Bank and the terms of those accounts; (ii) Bank’s rules governing wire transfers or international remittances including our liability to you and how we will inform you about the costs and fees and exchange rates for remittances and your ability to stop the remittance; (iii) Bank’s privacy and sharing of information policies and (iv) governing law of our agreement. Note: The customer is required to give full name (no initials) while creating recipient for the purpose of sending remittances. Thank You IMPORTANT If there is a conflict between the information stated in any Bank agreement or brochure/Manual (including this one) and something said by one of our employees, the written information will be used to resolve the conflict. The Bank may refuse to follow any instructions it believes is not permitted under law or regulation. The Manual is governed by and shall be interpreted under the laws of the State of New York. Any litigation shall be filed and heard only in the federal or state courts located in New York. State Bank of India reserves the right to change the Manual as required by law or Bank policy. Such changes may be displayed on the notice board in the Bank, posted on the website (https://sbinewyork.statebank) or advised to customers by mail. If you have any questions regarding the information provided in the Manual or your account relationship, you may contact us by mail by writing to the following address: State Bank of India DRS Department 460 Park Avenue New York Branch, NY 10022 U.S.A. Tel : General: (212)521-3200
State Bank of India New York Customer Manual for Deposits 55 (1) Tell us your name and account number (if any). (2) Describe the error or the transfer you are unsure about and explain as clearly as you can why you believe it is an error or why you need more information. (3) Tell us the dollar amount of the suspected error. If you inform us orally, we require that you send us your complaint or question in writing within 10 business days. We will determine whether an error occurred within 10 business days after we hear from you and will correct any error promptly. If we need more time, however, we may take up to 45 days to investigate your complaint or question. If we decide to do this, we will credit your account within 10 business days for the amount you think is in error, so that you will have the use of the money during the time it takes us to complete our investigation. If we ask you to put your complaint or question in writing and we do not receive it within 10 business days, we may not credit your account. For errors involving new accounts, point-of-sale, or foreign-initiated transactions, we may take up to 90 days to investigate your complaint or question. For new accounts, we may take up to 20 business days to credit your account for the amount you think is in error. We will tell you the results within three business days after completing our investigation. If we decide that there was no error, we will send you a written explanation. You may ask for copies of the documents that we used in our investigation. (b) Error resolution notice on periodic statements. In Case of Errors or Questions About Your Electronic Transfers telephone or write to us at the following address: State Bank of India Deposit Section 460 Park Avenue, New York, N.Y 10022 Tel: (212)521-3342/3318 as soon as you can, if you think your statement or receipt is wrong or if you need more information about a transfer on the statement or receipt. We must hear from you no later than 60 days after we sent you the FIRST statement on which the error or problem appeared. (1) Tell us your name and account number (if any). (2) Describe the error or the transfer you are unsure about and explain as clearly as you can why you believe it is an error or why you need more information. (3) Tell us the dollar amount of the suspected error. We will investigate your complaint and will correct any error promptly. If we take more than 10 business days to do this, we will credit your account for the amount you think is in error, so that you will have the use of the money during the time it takes us to complete our investigation. 10. Business Days: The Bank’s business days are Monday through Friday, 9:00 a.m. to 4:00 p.m ET (cash services available up to 3:00 pm ET only) not including bank legal holidays. 11.Disclosure of Account Information to Third Parties: We will disclose information to third parties about your account or the transfers you make: (i) Where it is necessary for completing transfers, or (ii) In order to verify the existence and condition of your account for a third party, such as a credit bureau or merchant, or (iii) In order to comply with government agency or court orders, or (iv) as described in our privacy policy included in this agreement.
State Bank of India New York Customer Manual for Deposits 53 c) If you tell us about the error orally, in person or by telephone, we require that you send us your complaint or question in writing within ten business days. d) We shall tell you the results of our preliminary investigation within 10 business days after we hear from you and will correct any error promptly. Sometimes we may take up to 45 days to investigate certain complaints or questions. In such cases, we will provisionally credit your Account upon your indemnifying us within 10 business days for the amount you think is in error, so that you may have the use of the money during the time it takes us to complete our investigation. If we ask you to put your complaint or question in writing and we do not receive it within 10 business days, we may not credit your Account. e) For errors involving new Accounts, point-of-sale, or foreign-initiated transactions, we may take up to 90 days to investigate your complaint or question. For new Accounts we may take up to 20 business days to credit your Account for the amount you think is in error. If we decide there was no error, we will send you a written explanation within three business days after we finish our investigation. You may ask for copies of the documents that we used in our investigation. 13. Anti-Money Laundering: The Bank, to the extent required by federal law under the USA PATRIOT Act and others, may keep records or make reports of high-dollar Transactions, suspicious activity, or foreign currency Transactions, as necessary to comply with the law and to detect and prevent illegal activity. There are serious civil and criminal consequences to engaging in illegal financial transactions. 14. Limitation of Bank’s Liability: The Bank shall not be liable to the Card Holder or to any third party, for any loss or damage suffered due to the following reasons: a) Any action carried out by the Bank, in good faith, based upon the instructions of the Card Holder, exercising due diligence and reasonable care; b) Any unauthorized and illegal Transactions occurring through the use of Bank Account(s), which can be attributed to the fraudulent or negligent conduct of the Card Holder, to the extent permitted by law; c) Any ATM or Merchant Establishment refusal to honor the Card, for whatever reason; d) Intrusion or hacking into the computer system/network or communication network of the Bank, to the extent permitted by law; e) Failure to carry out any instructions of the Card Holder due to insufficiency of balance in the Card Holder’s Account(s) or if the card Holder’s funds are subject to legal process or other restriction; f) Failure of the Card Holder to access the Account due to any Force Majeure Event, Technical Problems, or any other reason beyond the control of the Bank; g) Failure of the Card Holder to keep confidential and secure, PIN or any passwords, keywords or other identification marks given to the Card Holder for operating of the Account and/or Card; h) Failure of the Card Holder to inform the Bank regarding any changes in the Card Holder’s personal information; i) Breach of any of the other terms and conditions stated herein or in the Customer Manual by the Card Holder; j) Non-debiting of Transaction amount instantly through ATM or Merchant Transactions;
q. Unauthorized Transactions: Tell us at once if you believe your Card has been lost or stolen, or if you believe that an electronic fund transfer has been made without your permission. Telephoning is the best way of keeping your possible losses down. If you tell us within 2 business days after you learn of the loss or theft of your Card, you can lose no more than $50 if someone used your Card without your permission.) If you do NOT tell us within 2 business days after you learn of the loss or theft of your Card, and we can prove we could have stopped someone from using your Card without your permission if you had told us, you could lose as much as $500. Also, if your statement shows transfers that you did not make, including those made by card, code or other means, tell us at once. If you do not tell us within 60 days after the statement was mailed to you, you may not get back any money you lost after the 60 days if we can prove that we could have stopped someone from taking the money if you had told us in time. If a good reason (such as a long trip or a hospital stay) kept you from telling us, we will extend the time periods. A Lost or Stolen Card may be reported by contacting: 1-800-523-4175. This toll-free number is available 24-hours a day. In case you wish to send us letter, our address is State Bank of India, Deposit Section, 460 Park Avenue, New York, NY 10022, USA. For purposes of these disclosures, our business days are Monday through Friday. All federal and state bank holidays are not included. Kindly read the Debit Card Agreement available as Annexure B on page 49 for more information relating to Debit Card Services. 10. Remittances: The minimum amount for initiating a remittance is USD 100.00 or its equivalent in other currencies.
State Bank of India New York Customer Manual for Deposits 44 decide not to agree to the terms and conditions discussed therein, you may not use Internet Banking. The Online Banking Terms of Service govern Internet Banking and supersede any inconsistent agreements or requirements. However, the terms of this Manual will govern and supersede any inconsistent statements contained in the Online Banking Terms of Service with regard to the (i) types of accounts that you may have with the Bank and the terms of those accounts; (ii) Bank’s rules governing wire transfers or international remittances including our liability to you and how we will inform you about the costs and fees and exchange rates for remittances and your ability to stop the remittance; (iii) Bank’s privacy and sharing of information policies and (iv) governing law of our agreement. Note: The customer is required to give full name (no initials) while creating recipient for the purpose of sending remittances. Thank You IMPORTANT If there is a conflict between the information stated in any Bank agreement or brochure/Manual (including this one) and something said by one of our employees, the written information will be used to resolve the conflict. The Bank may refuse to follow any instructions it believes is not permitted under law or regulation. The Manual is governed by and shall be interpreted under the laws of the State of New York. Any litigation shall be filed and heard only in the federal or state courts located in New York. State Bank of India reserves the right to change the Manual as required by law or Bank policy. Such changes may be displayed on the notice board in the Bank, posted on the website (https://sbinewyork.statebank) or advised to customers by mail. If you have any questions regarding the information provided in the Manual or your account relationship, you may contact us by mail by writing to the following address: State Bank of India DRS Department 460 Park Avenue New York Branch, NY 10022 U.S.A. Tel : General: (212)521-3200
State Bank of India New York Customer Manual for Deposits 43 account. What to do if you think there has been an error or problem with a remittance transfer: (1) Call us at 212-521-3234; or email at remiterror.nyb@statebank.com (2) Write to us at Remittance Section, State Bank of India, 460 Park Avenue, New York, NY-10022, USA. You must contact us within 180 days of the date we promised that the funds would be made available to the recipient. When you do, please tell us: (1) Your name and telephone number or address; (2) The error or problem with the transfer, and why you believe it is an error or problem; (3) The name of the person receiving the funds, and if you know it, his or her telephone number or address; (4) The dollar amount of the transfer; and (5) The confirmation code or number of the transaction. We will determine whether an error occurred within 90 days after you contact us, and we will correct any error promptly. We will tell you the results within three business days after completing our investigation. If we decide that there was no error, we will send you a written explanation. You may ask for copies of any documents we used in our investigation. 11. Internet Banking/ YONO US Portal: a. Internet Services This section of the Manual describes your use of the Bank’s Online Internet-based Banking Service (“Internet Banking”). By using the new Internet Banking, you may:  Open an account (Currently, this facility is not available)  Obtain account balance and other banking information  Transfer funds between own accounts  Transfer funds to other Banks within USA through Wire Transfers*  Transfer INR to India*  Transfer USD to any Bank outside USA too*  Send secure messages to the Bank  Order new checks / Stop Checks*  Uploading documents as attachment through Secure Message Platform  Pull fund from own accounts with other U.S. banks *Charges may apply b. Internet Banking Terms of Service You may enroll in our new Internet Banking at our website at https://sbinewyork.statebank/online- banking . Once you enroll on the new portal, you will have access to your account information for viewing purposes only. In order to obtain transaction rights in online banking mode, you must apply for Transaction Rights under “Requests/Services” Tab. The request shall be approved by the Bank upon receipt. During the enrollment process you will be presented with a copy of the Bank’s Online Banking Terms of Service. The Online Banking Terms of Service governs your use of the SBI Online Banking Services. Use of Internet Banking is expressly conditioned on your acceptance of these Online Banking Terms of Service. By using the Internet Banking, you acknowledge that you have read and agree to abide by the terms and conditions of these Online Banking Terms of Service. If you
State Bank of India New York Customer Manual for Deposits 42 otherwise incur on account of our provision of the Service to you and caused by your breach of our agreement or by your negligence, misconduct or other wrongful or illegal use of the Service. k. Privacy and Sharing and Use of Information. The information we obtain from you in connection with the Service may be confidential. We will maintain the confidentiality of such information in accordance with our normal procedures for safeguarding information regarding our customers and our Privacy Policy found elsewhere in this Manual. l. Special Rights Regarding “Remittance Transfers.” The Consumer Financial Protection Bureau’s Regulation E governs certain outgoing electronic international transactions initiated by consumers that are defined as “remittance transfers.” Included within the definition of a remittance transfer are wire transfers of funds from any of your consumer deposit or Money Market Deposit Accounts to third parties who are located, or whose accounts are located, in foreign countries. This means that when you request a remittance transfer: (1) You will receive specific disclosures about the details of the requested transfer before we will complete the transfer. (2) You have certain cancellation and refund rights in connection with the transfer if you change your mind within 30 minutes after making payment and the funds have not already been picked up or deposited into the recipient’s account. These rights are briefly summarized below. (3) You have certain rights if you suspect an error or problem with a remittance transfer. These rights are briefly summarized below. (4) We will send you a notice that we debited your account and you paid for the transfer. (5) Certain provisions of this Manual, which limit our liability to you or make you responsible for losses in various circumstances, do not apply and our or your liability or responsibility is instead governed by the Regulation E remittance transfer rules. Among other things, those rules provide that if you give us the incorrect account number or recipient institution identifier, you could lose the transfer amount. (6) There may also be other provisions of this Manual, that are inconsistent with certain rights or responsibilities of you or us under the Regulation E remittance transfer rules. In the event of any such inconsistency, Regulation E will control and this Manual, will be deemed modified so as to be consistent with the remittance transfer rules, without affecting the validity of any other provisions of the Manual. What to do if you want to cancel a remittance transfer: You have the right to cancel a remittance transfer and obtain a refund of all funds paid to us, including any fees. To cancel, you must contact us: by telephone at (212)-521-3234; by email at cancelremit.nyb@statebank.com or in person at the Bank within 30 minutes of making payment for the transfer. If you have initiated the remittance through new “YONO US Portal”, you can use the Cancellation facility within 30 minutes of creation of transaction to self-cancel the transfer. When you contact us, you must provide us with information to help us identify the transfer you wish to cancel, including your name, address and telephone number, the amount and location where the funds were to be sent and any identification number we have provided for you in connection with the transfer. We will refund your money within three business days of your request to cancel a transfer, as long as the funds have not already been picked up or deposited into the recipient’s
State Bank of India New York Customer Manual for Deposits 56 and other applicable laws, may keep records or make reports of high-dollar transactions, suspicious activities, or foreign currency transactions, as necessary to comply with the law and to detect and prevent illegal activity. There are serious civil and criminal consequences to engaging in illegal financial transactions. 13. Limitation of Bank’s Liability: If we do not complete a transfer to or from your account on time or in the correct amount according to our agreement with you, we will be liable for your losses or damages as further described herein. However, there are some exceptions. We will not be liable, for instance: (1) If, through no fault of ours, you do not have enough money in your account to make the transfer. (2) If the transfer would go over the credit limit on your overdraft line. (3) If the automated teller machine where you are making the transfer does not have enough cash. (4) If the system was not working properly and you knew about the breakdown when you started the transfer. (5) If circumstances beyond our control (such as fire or flood) prevent the transfer, despite reasonable precautions that we have taken.
State Bank of India New York Customer Manual for Deposits 22 The Bank also reserves the right to close your accounts without any prior notice for any reason in the Bank’s sole discretion. The Bank will mail you a check for the balance in the accounts. The Bank may give you notice before taking this step, although we are not obliged to do so. We also reserve the right to close your account if your account has a NIL balance for more than three (3) months. Payment of interest on your account (if your account is interest-bearing) will cease from the date of closure of the account. Checking and Money Market Deposit Accounts cannot be negotiated or transferred to another individual or corporation or entity. o. Bank’s Liability: If the Bank does not complete a transfer to or from your account in time or for the correct amount as per your agreement with us, we will be liable for your direct losses or damages but not any indirect costs or punitive costs or damages. However, the Bank will not be liable in circumstances such as:  The funds in your account are not sufficient to affect the transfer  The automated teller machine where you were making the transfer has a communication failure.  The automated teller machine did not have enough cash  If circumstances beyond our control prevent the transfer.  If we are unable to confirm the transaction with you (if required)  Any other exceptions stated in our agreement with you.
State Bank of India New York Customer Manual for Deposits 41 We may send the wire through such correspondents as appear appropriate to us in our sole discretion and we shall not be liable for their neglect or negligence. We are not under any obligation to detect errors or inconsistencies in any of your instructions. We will not be liable for any losses caused by errors or inaccuracies in your instructions. We will have the right, in our sole discretion, to reject any instructions, to set exposure limits on the amounts you may wire and impose additional conditions that must be satisfied before we will accept any instructions. i. Limits on Remittances. You will provide a statement of the purpose of the remittance. You may not transfer more than our specified maximum dollar limit in any single day. We may change any of the foregoing limits in our discretion at any time. Remittances may not be sent by us through or into any country in violation of U.S. laws. We will charge to and debit from the account identified in the instruction the amount of money specified in the instruction to be paid to the beneficiary designated therein and all fees and any costs and expenses. You must verify, prior to issuing an instruction for us to initiate a remittance, that funds are available in your account for us to initiate the remittance. If there are insufficient funds, we may, in our sole discretion: (i) execute the transaction, in which event, immediately upon our demand, you will pay to us all amounts sent and all fees and costs and expenses associated with the transfer; (ii) delay the remittance; or (iii) cancel the instruction and not complete the remittance. We will not have any liability to you or any other person for losses incurred by you or any other person when a remittance is not completed because there are not sufficient funds available. j. Limits on Liability and Indemnification. EXCEPT AS PROVIDED IN EXPRESS TERMS TO THE CONTRARY IN THIS MANUAL, THE SERVICE IS PROVIDED ON AN “AS IS”, “AS AVAILABLE” BASIS. WE MAKE NO WARRANTY, EXPRESS OR IMPLIED, TO YOU OR ANY OTHER PERSON REGARDING THE SERVICE, INCLUDING ANY WARRANTY OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE OR NONINFRINGEMENT. Subject to the limitations on our liability set forth in this Agreement, we will have liability to you for any losses you suffer or incur as a direct result of a material breach of this Agreement by us or as a direct result of our gross negligence or intentional misconduct in performing or failing to perform the Service. Our liability will be limited, however, as follows: (i) for delays in payment, our total liability to you or any person, including the beneficiary, will be limited to payment of interest for the period of delay; (ii) for non-completion of the instructions, our total liability to any person, including you, will be limited to reimbursement to such person of his or her actual out-of-pocket expenses in the funds transfer, and any actual out-of-pocket incidental expenses and interest losses; and (iii) for any other cause, the aggregate amount of the fees and charges paid by you to us for the Service during the prior 6 months. We will not be liable to you or any other person for, and you release us from liability with respect to (i) any indirect, consequential, special, incidental, exemplary or punitive damages, including loss of profits, loss of business or loss of data; or (ii) attorneys’ fees or fees of other professionals. You will fully indemnify us and hold us harmless, from and against all losses we may suffer or
State Bank of India New York Customer Manual for Deposits 40 from time to time. Our decision to approve your request to use the Service is within our sole discretion. Your rights in using the Service are governed by the terms set forth in this Manual and by any receipt or disclosures you receive at the time that you arrange for a remittance transfer. f. Fees. You will be assessed fees and other charges associated with the Service as detailed in the “Schedule of Fees & Charges” in this Manual. We reserve the right to change from time to time our fees and other charges. Our fees and charges will also be disclosed in the documentation you receive at the time that you arrange for a remittance transfer. g. Cancellation, Amendment and Termination. We may suspend or cancel the Service in our sole discretion. We may also limit or restrict your use of the Service, as provided below, in our sole discretion. If you wish to cancel a remittance more than 30 minutes after you have paid us, we will endeavor to do so if possible. Likewise, if you wish to amend an instruction that you have given us more than 30 minutes after you have paid us, we will endeavor to do so if possible. You may be charged a fee for such cancellations or amendments. h. Instructions. It is your responsibility to ensure that we are provided with accurate, clear, and correct instructions regarding your remittances. In case the remitter provides incorrect beneficiary account details or the remittance is returned by beneficiary bank for any reason, the remittance may be recalled by the branch and the amount so recalled would be converted at prevalent (INR-USD) purchase rate. We may refuse to accept instructions from anyone other than you in our sole discretion. We may also refuse to execute any remittance requests which are incomplete. You will strictly adhere to the security procedures applicable from time to time to the Service. Bank reserves the right to ask for any additional documents before/after processing the remittance. For remittances to NGOs/charitable purpose, the customer will have to provide the copy of updated FCRA (Foreign Contribution Regulation Act) certificate. The Bank reserves the right to not process the remittance if the FCRA (Foreign Contribution Regulation Act) number is not valid based on confirmation from Ministry of Home Affairs website of Government of India. All the remittance requests received at the SBI New York are subject to approval of our internal Compliance department. We may seek any additional information regarding the remittance like purpose of transactions, specific details about beneficiary etc. before executing the remittance. We may refuse to execute the remittance if the additional information sought is not provided by the remitter. If the beneficiary’s account number that you provide does not correspond to the name of the beneficiary that you provide, we will not be liable for losses resulting from the beneficiary’s financial institution paying the wrong person or does not accept the wire or places the funds in a suspense account pending clarification. We will not be liable to you or any other person for any losses resulting from the beneficiary’s financial institution accepting and posting any wire transfer to an incorrect account. We will also not be liable to you or the beneficiary of the wire or any other person for any fees that may be deducted by the beneficiary’s financial institution. We will not be liable for losses resulting from your failure to properly identify the financial institution where the beneficiary maintains an account.

Test Case

Question: What type of account earns simple interest on a 360 days' basis?

Metric Baseline Score Current Score
answer_accuracy 0.80979855 0.81101800 (+0.00121945)
groundedness 0.89850002 0.91651511 (+0.01801509)
mean_answer_similarity 0.84877593 0.86004830 (+0.01127237)
mean_reciprocal_rank 1.00000000 1.00000000
min_answer_similarity 0.80979855 0.81101800 (+0.00121945)
model_failures 0.00000000 0.00000000
model_generation_failures 0.00000000 0.00000000
model_parse_failures 0.00000000 0.00000000
model_passes 1.00000000 1.00000000
model_retrieval_failures 0.00000000 0.00000000
precision_relevancy 0.87070583 0.86561993 (-0.00508590)
recall_relevancy 0.90434754 0.90434754
rouge_1 0.06722689 0.08888889 (+0.02166200)
rouge_2 0.05128205 0.06818182 (+0.01689977)
rouge_l 0.06722689 0.08888889 (+0.02166200)

Legend:

  • Metric : The evaluation metric name. Shown in bold red if the metric flipped between pass/fail status.
  • Baseline Score : The metric value for the baseline model. Shown in bold green if baseline won, red if lost.
  • Current Score : The metric value for the current model, followed by the delta from baseline in parentheses.
  • Delta Colors : Green = improvement, Orange = regression, Red = metric flipped to fail.
  • Winner Determination : For each metric, the winner is determined by comparing scores while considering the metric's directionality (higher is better vs. lower is better).
Baseline Result Current Result
Model claude-3-7-sonnet-20250219@h2ogpte claude-3-7-sonnet-20250219@h2ogpte
Question What type of account earns simple interest on a 360 days' basis?
Expected answer Money Market Deposit Account
Actual Answer According to the document, the Money Market Deposit (MMD) Account earns simple interest on a 360 days' basis. This is specifically stated on page 12 of the document: "Your Money Market Deposit Account earn simple interest on a 360 days' basis which accrues daily based on the end-of-the-day balance." The document further explains that the daily balance method is used to calculate interest on this account, which "applies a daily periodic rate to the principal in the account each day." Although interest accrues daily, customers cannot withdraw the earnings until the first business day of the following calendar month, when it is credited to the account, provided the account is not closed. According to the document, a Money Market Deposit Account earns simple interest on a 360 days' basis. This is specifically mentioned on page 12 of the Customer Manual for Deposits, which states: "Your Money Market Deposit Account earn simple interest on a 360 days' basis which accrues daily based on the end-of-the-day balance." The document further explains that the daily balance method is used to calculate interest on the account, applying a daily periodic rate to the principal in the account each day.
Retrieved Context
State Bank of India New York Customer Manual for Deposits 12 month, accrued interest will be credited and paid. Accrued interest will be credited to your account prior to closing the same. c. Compounding Method: Your Money Market Deposit Account earn simple interest on a 360 days’ basis which accrues daily based on the end-of-the-day balance. The daily balance method will be used to calculate the interest on the account. This method applies a daily periodic rate to the principal in the account each day. Although interest accrues daily, you may not withdraw the earnings until the first business day of the following calendar month, when the same is credited into the account, provided the account is not closed. If not withdrawn, interest is added to and becomes part of the account balance. Since interest is added to your total account balance, any credited interest in the account is, effectively, compounded monthly. d. Annual Percentage Yield: The annual percentage yield earned (APYE) for the statement period will be advised with each monthly statement account. e. Withdrawals: A maximum of 6 transfers or withdrawals, or a combination of such transfers or withdrawals, are permitted during a calendar month or statement cycle of at least four weeks. For the purpose of this limit, preauthorized, automatic transfers (including but not limited to transfer from savings deposit for overdraft protection or for direct bill payments) and transfers and withdrawals initiated by telephone, facsimile, or computer and transfers made by check, debit card or other similar order made by the depositor and payable to third parties is included.
3.5 Limited Liability Company (“LLC”) The following documents are required:  The LLC’s organizational documents (Articles of Organization and Operating Agreement)  The names of all the members and managers of the LLC shall be provided with all the same identification as required for corporations above.  A certified copy of a resolution of the Managers of the LLC providing all the same information required in the corporate resolution set forth above.  Certificate of Beneficial owners, wherever applicable. 4. TYPES OF ACCOUNTS Three types of deposit accounts may be opened:  Checking Account  Money Market Deposit (MMD) Account  Certificate of Deposit (CD) Account 4.1 Checking Account This is a non-interest bearing account with no restrictions on the number of withdrawals or credits. However, Bank has the discretion to pay interest on a product variant. The minimum deposit required for opening an account is the minimum daily balance requirement for the account which is tabled below. The daily minimum balance required to be maintained to avoid monthly service charges are as follows:
• Annual Percentage Yield Earned (APYE): Relationship between the interest amounts actually paid to the customer’s account during the period and the average daily balance in the account for that period. • Tiered interest rate: Accounts in which interest rate is based on the balances in account. Each tier corresponds to a range of account balances and interest rates earned by the customer if his or her balance falls within that range.  Attached/Attachment: An account blocked by a Court Order. • Available Balance: The funds available for withdrawal by the account holder. • Business Day: Any working day of the week; does not include Saturdays, Sundays and Federal holidays.
State Bank of India New York Customer Manual for Deposits 24 IMPORTANT INFORMATION ABOUT SUBSTITUTE CHECKS AND YOUR RIGHTS What is a substitute check? To make check processing faster, federal law permits banks to replace original checks with "substitute checks." These checks are similar to original checks with a slightly reduced image of the front and back of the original check. The front of a substitute check states: "This is a legal copy of your check. You can use it the same way you would use the original check." You may use a substitute check as proof of payment just like the original check. Some or all of the checks that you receive back from us may be substitute checks. This notice describes rights you have when you receive substitute checks from us. The rights in this notice do not apply to original checks or to electronic debits to your account. However, you have rights under other law with respect to those transactions. What are your rights regarding substitute check? In certain cases, federal law provides a special procedure that allows you to request a refund for losses you suffer if a substitute check is posted to your account (for example, if you think that we withdrew the wrong amount from your account or that we withdrew money from your account more than once for the same check). The losses you may attempt to recover under this procedure may include the amount that was withdrawn from your account and fees that were charged as a result of the withdrawal (for example, bounced check fees). The amount of your refund under this procedure is limited to the amount of your loss or the amount of the substitute check, whichever is less. You also are entitled to interest on the amount of your refund if your account is an interest-bearing account. If your loss exceeds the amount of the substitute check, you may be able to recover additional amounts under other law. If you use this procedure, you may receive up to $2,500 of your refund (plus interest if your account earns interest) within 10 business days after we received your claim and the remainder of your refund (plus interest if your account earns interest) not later than 45 calendar days after we received your claim. We may reverse the refund (including any interest on the refund) if we later are able to demonstrate that the substitute check was correctly posted to your account. How can you make a claim for a refund? If you believe that you have suffered a loss relating to a substitute check that you received and that was posted to your account, please contact us by phone at (212)521-3286/3318 or by postal mail at our mailing address. You must contact us within 40 calendar days of the date that we mailed (or otherwise delivered by a means to which you agreed) the substitute check in question or the account statement showing that the substitute check was posted to your account, whichever is later. We may extend this time period if you were not able to make a timely claim because of extraordinary circumstances. Your claim must be made in writing on the prescribed form, be signed by you and include: A description of why you have suffered a loss (e.g. you think the amount withdrawn was incorrect); An estimate of the amount of your loss;
State Bank of India New York Customer Manual for Deposits 11 age or older. For every additional withdrawal or check beyond above mentioned number in a statement cycle, $5 will be recovered e. Restriction on the number of credits/deposits: No restriction. f. Availability of account statement and frequency of monthly statement: Account statements at monthly intervals will be provided. 4.2 Money Market Deposit (MMD) Account This is an interest-bearing account from which withdrawals can be made in accordance with certain prescribed restrictions. Tiered interest rate is available on money market accounts based on the balances available in the account. The minimum deposit required for opening an account is the minimum daily balance requirement for the account which is tabled below. The daily minimum balances required to be maintained to avoid monthly service charges are as follows: Consumer Account Business/ Associations US Resident Customer $2,500 $50,000 Non-US Resident Customer $25,000 $ 100,000 A minimum balance service charge as listed in our “Schedule of Fees & Charges” in this Manual will be imposed every month if the balance in the account falls below the required minimum during any day of a calendar month. If the balance is less than the amount required to be deducted as service charge, the so available balance will be treated as service charges and the account may be closed forthwith, with notice to the customer at the last available address in our records. No overdraft is permitted under any circumstances in this account. Any check presented with insufficient funds will be dishonored. Service charges are listed in our “Schedule of Fees & Charges” in this Manual. A Money Market Deposit Account for Non-US Resident consumer or business/association would be opened at the sole discretion of the Bank and as per its policy, either on the same terms and conditions as for U.S- resident customers or on mutually agreed terms and conditions. Monthly service charges are listed in our “Schedule of Fees & Charges” in this Manual. Early closure fees will apply if you close your account within three months of opening. Other Features of Money Market Deposit Accounts a. Interest Rate: Tiered interest rate is available on MMD accounts based on the balances available in account. Interest rate on these accounts may vary from time to time. The Bank reserves the right to change the rate at any time. There is no limitation as to the percentage amount the interest rate may vary. You may visit our website https://sbinewyork.statebank or call (212) 521-3200 for information on the current rate of interest. b. Payment of Interest: Interest will accrue on your day-end balance. Interest earned during the month will be credited to the account at the close of business on the last business day of the month and will be made available to you on the first business day of the following month. There is no minimum balance required to earn the stated annual percentage yield. For non-cash deposits made into your account (for example checks) interest begins to accrue no later than the business day we receive credit for the deposit of the non-cash items. If the account is closed during the middle of a
State Bank of India New York Customer Manual for Deposits 20 If you apply for a duplicate official check or a refund within 180 days of the date of the check, the Bank would require you and the payee to jointly sign an affidavit of loss and indemnity, referred to as Indemnity Agreement. You may also be required to submit a Surety Bond for twice the amount of the instrument or to place sufficient funds as security with us. After 180 days, an affidavit of loss and indemnity alone may suffice. A fee (see “Schedule of Fees & Charges”) will be charged for each stop payment request. i. Your Records: Your cancelled check(s) or substitute check(s), copies of special withdrawal form(s) and acknowledgment(s) on deposit slip(s) are your records. Paid and cancelled checks or substitute checks will be mailed with the statement of accounts to U.S. based customers. The cancelled checks or substitute checks for non-U.S. based accounts will normally be retained by the Bank. j. Statement of Account: Both Checking and Money Market Deposit Accounts are statement accounts. For all active statement accounts (that is, accounts which are not inactive or dormant as explained in Section 5.2) at least once in a calendar month, we will send a statement showing all account activities during the previous statement period. This statement will indicate your balance on the statement date and will give you an itemized, date-wise listing of all credits, all paid checks/ transfers, transactions put through using the linked debit card, interest earned, and any maintenance and service charges levied. It will also indicate the annual percentage yield earned (APYE) in effect during the period, if the account is interest bearing. All statements will be mailed to the last address known to the Bank by regular mail. For additional statements and other modes of sending statements, charges will be extra. No periodic account statements will be sent on CD accounts. Statements of Account are not available online, however, you may view the transactions online through internet banking.
State Bank of India New York Customer Manual for Deposits 13 4.3. CERTIFICATE OF DEPOSIT (“CD”) A CD earns a fixed rate of interest when an amount of money (principal) is left on deposit with the Bank for a fixed period (a fixed number of days, months or years). After an account is opened, you may not make deposits into or withdraw from this account until the maturity date. Premature withdrawal of principal would attract a penalty. Refer to “Penalty for Early Withdrawal of Principal” (Section f). We offer CDs with maturities from 3 months to 5 years. Bank also accepts deposit for a tenor from 7 days to 3 months on a case to case basis. a. Interest Rate: The interest rate earned on a Certificate of Deposit will be a guaranteed fixed rate for the term of the CD. This rate is determined by the Bank, based on market conditions, at the time the account is opened or renewed. Presently we are not offering floating rate Certificate of Deposits. For current rate information, you may visit our website https://sbinewyork.statebank or call 212-521-3390. b. Annual Percentage Yield (APY): Our Certificates of Deposit are offered on simple interest (also called non-cumulative interest) and compound interest (also called cumulative interest) basis, depending upon your choice. For CDs with simple interest, there will not be any difference in the interest rate (also called Annual Percentage Rate, or APR) and the Annual Percentage Yield (APY). For CDs where interest is compounded, the Annual Percentage Yield measures the total amount of interest paid on the account in a year based on the interest rate and the frequency of compounding, which is quarterly. The interest is calculated on a 365 days basis. c. Compounding Period/Payment of Interest: If you choose to receive simple interest (non- cumulative) on your CD, you may opt to withdraw the interest at monthly/quarterly/half-yearly intervals, at the time of opening or renewing the CD, provided the deposit is for one year or more. For CDs of less than six months, the simple interest is paid at maturity. If you choose to receive compounded interest on your CD, interest will be compounded at quarterly intervals and will be paid along with the principal at the time of maturity. This option is only available for CDs of six months or higher maturities.
State Bank of India New York Customer Manual for Deposits 16 Maturity period of deposit Number of days for which interest will be recovered 1 year to less than 3 years 60 days 3 years to less than 5 years 120 days 5 years & over 180 days The penalty will be calculated at the same interest rate of the deposit. A penalty will not be charged in case the withdrawal is caused by death of the depositor or if the depositor is declared legally incompetent. Principal Protection: SBI New York Certificate of Deposit comes with the “Principal Protection” feature. The penalty for early withdrawal would be limited up to the amount of interest paid / payable and will not result in reduction of the amount originally deposited. g. Interest Payment Method: When opening the CD, you may opt to receive the periodic interest payments by any one of the following: • Through ACH/Wire transfer to your designated bank account • By an official check through regular mail • In your Checking or Money Market Deposit Account with us. h. Renewal: We will send you a maturity notice not less than 14 days and not more than 30 days prior to the maturity date. If we do not hear from you, and unless you had specifically advised us against automatic renewal when you opened the CD, we will automatically renew the CD after 10 calendar days, under the same product for a period of one year at the rate offered for one year term on the date the CD matured. In the absence of your instruction for disposal of the maturity proceeds (where automatic renewal option has been declined), the maturity amount will be placed in a non-interest bearing account. CDs that were automatically renewed have a ten- calendar-day grace period (including the date of maturity). During the grace period, you may withdraw the amount of your deposit without incurring a premature withdrawal penalty. However, no interest will be paid from the date of maturity until the date of such withdrawal. If you choose to renew your deposit, during this grace period of 10 days, from a date later than the date of maturity, no interest will be paid from the date of maturity until the date of such renewal. Please, however, note that written instructions for withdrawal should be received by us within the grace period. The instructions will be accepted through Secured Messaging on Internet Banking Portal/Mail/In person visits to the Bank. CDs that mature on Saturdays, Sundays or Federal holidays will be available for withdrawal on the next business day and interest will be paid until the maturity date. CDs may not be negotiated or transferred to another individual or corporation. Your existing CDs may also be renewed as Senior Citizen CD in case you fulfil the eligibility norms subject to receipt of written request to convert the CD into a Senior Citizen CD. Existing CDs will not be auto renewed as Senior Citizen CD even though you may fulfil the eligibility conditions.
a. Interest Rate: The interest rate earned on a Senior Citizen Certificate of Deposit will earn fixed rate for the term of the CD. This rate is determined by the Bank, based on market conditions, at the time the account is opened or renewed. For current rate information, you may visit our website https://sbinewyork.statebank or call (212) 521-3390 b. Annual Percentage Yield (APY): Senior Citizen Certificate of Deposit is offered on simple interest (also called non-cumulative interest) and compound interest (also called cumulative interest) basis, depending upon your choice. In case of simple interest, the Annual Percentage Rate(APR) and Annual Percentage Yield would be the same. In case of compound interest, APY measures the total amount of interest paid on the account in a year based on the interest rate and the frequency of compounding is quarterly. The interest is calculated on a 365 days basis. c. Compounding Period/Payment of Interest: If you choose to receive simple interest (non- cumulative) on your CD, you may opt to withdraw the interest at monthly/quarterly/half-yearly intervals, at the time of opening or renewing the CD. If you choose to receive compounded interest on your CD, interest will be compounded at quarterly intervals and will be paid along with the principal at the time of maturity.
State Bank of India New York Customer Manual for Deposits 28 • Certify: An act by which the Bank conveys that the check, so accepted, will be paid, if otherwise in order. The Bank is obligated to make payments for all checks certified by it. Your account will be debited with the amount, at the time of certifying the check. • Collateral: Any property /security pledged for use in repaying loans in case of default. • Compound/Compounding: The interest paid on the interest left behind on deposit in your account. • Consumer: A natural person who holds an account, primarily for personal, family or household purposes. • Daily Balance Method: This method applies a daily periodic rate to the principal in the account each day. • Double-Endorsed Check: A check with an endorsement in addition to the endorsement(s) of the original payee(s). • Electronic Fund Transfer: Any transfer of money initiated by electronic means to or from a bank account of a customer. • Interest Rate: This refers to the annual simple interest the account will earn. • Maturity: The end of the agreed period of time for which an account was opened (applicable to CD or loan accounts).
State Bank of India New York Customer Manual for Deposits 12 month, accrued interest will be credited and paid. Accrued interest will be credited to your account prior to closing the same. c. Compounding Method: Your Money Market Deposit Account earn simple interest on a 360 days’ basis which accrues daily based on the end-of-the-day balance. The daily balance method will be used to calculate the interest on the account. This method applies a daily periodic rate to the principal in the account each day. Although interest accrues daily, you may not withdraw the earnings until the first business day of the following calendar month, when the same is credited into the account, provided the account is not closed. If not withdrawn, interest is added to and becomes part of the account balance. Since interest is added to your total account balance, any credited interest in the account is, effectively, compounded monthly. d. Annual Percentage Yield: The annual percentage yield earned (APYE) for the statement period will be advised with each monthly statement account. e. Withdrawals: A maximum of 6 transfers or withdrawals, or a combination of such transfers or withdrawals, are permitted during a calendar month or statement cycle of at least four weeks. For the purpose of this limit, preauthorized, automatic transfers (including but not limited to transfer from savings deposit for overdraft protection or for direct bill payments) and transfers and withdrawals initiated by telephone, facsimile, or computer and transfers made by check, debit card or other similar order made by the depositor and payable to third parties is included.
• Annual Percentage Yield Earned (APYE): Relationship between the interest amounts actually paid to the customer’s account during the period and the average daily balance in the account for that period. • Tiered interest rate: Accounts in which interest rate is based on the balances in account. Each tier corresponds to a range of account balances and interest rates earned by the customer if his or her balance falls within that range.  Attached/Attachment: An account blocked by a Court Order. • Available Balance: The funds available for withdrawal by the account holder. • Business Day: Any working day of the week; does not include Saturdays, Sundays and Federal holidays.
State Bank of India New York Customer Manual for Deposits 28 • Certify: An act by which the Bank conveys that the check, so accepted, will be paid, if otherwise in order. The Bank is obligated to make payments for all checks certified by it. Your account will be debited with the amount, at the time of certifying the check. • Collateral: Any property /security pledged for use in repaying loans in case of default. • Compound/Compounding: The interest paid on the interest left behind on deposit in your account. • Consumer: A natural person who holds an account, primarily for personal, family or household purposes. • Daily Balance Method: This method applies a daily periodic rate to the principal in the account each day. • Double-Endorsed Check: A check with an endorsement in addition to the endorsement(s) of the original payee(s). • Electronic Fund Transfer: Any transfer of money initiated by electronic means to or from a bank account of a customer. • Interest Rate: This refers to the annual simple interest the account will earn. • Maturity: The end of the agreed period of time for which an account was opened (applicable to CD or loan accounts).
m. Change of Address, e-mail address, telephone number and account details: Please update us promptly of any change of address, e-mail address, telephone number or account details and include a complete list of all your accounts and account numbers. Please use Customer Information Update Form (CIP Form) available on our website for update of any information and submit the same along with copy of valid Photo ID and Address proof. Bank reserves the right to ask for additional documents on a case to case basis. If you do not inform us of the changes, mailing of account statements may be withheld and the accounts may be blocked for further transactions until we hear from you. Bank may ask you to update your account information through remediation form as and when there is any material change, or whenever bank requires. If this information is not provided within a reasonable time (30 days), the Bank may decide to decline further transactions in the account and may also close the account if not received the same in subsequent 60 days. For proof of the new address, a utility bill, State issued ID with current address, or Letter issued by Government Authority to the current address to give effect to your change of address request may be provided. All requests for Change of Address, e-mail address, telephone number and account details should be submitted along with a copy of valid ID document. Bank may also call you on your registered number for confirming the details given on the request. If your signed request for email/phone number change is received through modes other than online banking and over the counter, there will be a 30 day debit restriction on your account. n. Closing an Account: You may close your Checking /Money Market Deposit Account at any time provided the funds on deposit are not held against uncollected deposited checks or attached by any legal action. A service charge would apply to Checking/Money Market Deposit Accounts closed within three months of opening. If a hold is placed on your account because of a pre-approved merchant transaction done using your debit card, the Bank may not close the account until the transaction is completed or the hold is removed.
a. Interest Rate: The interest rate earned on a Senior Citizen Certificate of Deposit will earn fixed rate for the term of the CD. This rate is determined by the Bank, based on market conditions, at the time the account is opened or renewed. For current rate information, you may visit our website https://sbinewyork.statebank or call (212) 521-3390 b. Annual Percentage Yield (APY): Senior Citizen Certificate of Deposit is offered on simple interest (also called non-cumulative interest) and compound interest (also called cumulative interest) basis, depending upon your choice. In case of simple interest, the Annual Percentage Rate(APR) and Annual Percentage Yield would be the same. In case of compound interest, APY measures the total amount of interest paid on the account in a year based on the interest rate and the frequency of compounding is quarterly. The interest is calculated on a 365 days basis. c. Compounding Period/Payment of Interest: If you choose to receive simple interest (non- cumulative) on your CD, you may opt to withdraw the interest at monthly/quarterly/half-yearly intervals, at the time of opening or renewing the CD. If you choose to receive compounded interest on your CD, interest will be compounded at quarterly intervals and will be paid along with the principal at the time of maturity.
State Bank of India New York Customer Manual for Deposits 13 4.3. CERTIFICATE OF DEPOSIT (“CD”) A CD earns a fixed rate of interest when an amount of money (principal) is left on deposit with the Bank for a fixed period (a fixed number of days, months or years). After an account is opened, you may not make deposits into or withdraw from this account until the maturity date. Premature withdrawal of principal would attract a penalty. Refer to “Penalty for Early Withdrawal of Principal” (Section f). We offer CDs with maturities from 3 months to 5 years. Bank also accepts deposit for a tenor from 7 days to 3 months on a case to case basis. a. Interest Rate: The interest rate earned on a Certificate of Deposit will be a guaranteed fixed rate for the term of the CD. This rate is determined by the Bank, based on market conditions, at the time the account is opened or renewed. Presently we are not offering floating rate Certificate of Deposits. For current rate information, you may visit our website https://sbinewyork.statebank or call 212-521-3390. b. Annual Percentage Yield (APY): Our Certificates of Deposit are offered on simple interest (also called non-cumulative interest) and compound interest (also called cumulative interest) basis, depending upon your choice. For CDs with simple interest, there will not be any difference in the interest rate (also called Annual Percentage Rate, or APR) and the Annual Percentage Yield (APY). For CDs where interest is compounded, the Annual Percentage Yield measures the total amount of interest paid on the account in a year based on the interest rate and the frequency of compounding, which is quarterly. The interest is calculated on a 365 days basis. c. Compounding Period/Payment of Interest: If you choose to receive simple interest (non- cumulative) on your CD, you may opt to withdraw the interest at monthly/quarterly/half-yearly intervals, at the time of opening or renewing the CD, provided the deposit is for one year or more. For CDs of less than six months, the simple interest is paid at maturity. If you choose to receive compounded interest on your CD, interest will be compounded at quarterly intervals and will be paid along with the principal at the time of maturity. This option is only available for CDs of six months or higher maturities.
State Bank of India New York Customer Manual for Deposits 16 Maturity period of deposit Number of days for which interest will be recovered 1 year to less than 3 years 60 days 3 years to less than 5 years 120 days 5 years & over 180 days The penalty will be calculated at the same interest rate of the deposit. A penalty will not be charged in case the withdrawal is caused by death of the depositor or if the depositor is declared legally incompetent. Principal Protection: SBI New York Certificate of Deposit comes with the “Principal Protection” feature. The penalty for early withdrawal would be limited up to the amount of interest paid / payable and will not result in reduction of the amount originally deposited. g. Interest Payment Method: When opening the CD, you may opt to receive the periodic interest payments by any one of the following: • Through ACH/Wire transfer to your designated bank account • By an official check through regular mail • In your Checking or Money Market Deposit Account with us. h. Renewal: We will send you a maturity notice not less than 14 days and not more than 30 days prior to the maturity date. If we do not hear from you, and unless you had specifically advised us against automatic renewal when you opened the CD, we will automatically renew the CD after 10 calendar days, under the same product for a period of one year at the rate offered for one year term on the date the CD matured. In the absence of your instruction for disposal of the maturity proceeds (where automatic renewal option has been declined), the maturity amount will be placed in a non-interest bearing account. CDs that were automatically renewed have a ten- calendar-day grace period (including the date of maturity). During the grace period, you may withdraw the amount of your deposit without incurring a premature withdrawal penalty. However, no interest will be paid from the date of maturity until the date of such withdrawal. If you choose to renew your deposit, during this grace period of 10 days, from a date later than the date of maturity, no interest will be paid from the date of maturity until the date of such renewal. Please, however, note that written instructions for withdrawal should be received by us within the grace period. The instructions will be accepted through Secured Messaging on Internet Banking Portal/Mail/In person visits to the Bank. CDs that mature on Saturdays, Sundays or Federal holidays will be available for withdrawal on the next business day and interest will be paid until the maturity date. CDs may not be negotiated or transferred to another individual or corporation. Your existing CDs may also be renewed as Senior Citizen CD in case you fulfil the eligibility norms subject to receipt of written request to convert the CD into a Senior Citizen CD. Existing CDs will not be auto renewed as Senior Citizen CD even though you may fulfil the eligibility conditions.
State Bank of India New York Customer Manual for Deposits 24 IMPORTANT INFORMATION ABOUT SUBSTITUTE CHECKS AND YOUR RIGHTS What is a substitute check? To make check processing faster, federal law permits banks to replace original checks with "substitute checks." These checks are similar to original checks with a slightly reduced image of the front and back of the original check. The front of a substitute check states: "This is a legal copy of your check. You can use it the same way you would use the original check." You may use a substitute check as proof of payment just like the original check. Some or all of the checks that you receive back from us may be substitute checks. This notice describes rights you have when you receive substitute checks from us. The rights in this notice do not apply to original checks or to electronic debits to your account. However, you have rights under other law with respect to those transactions. What are your rights regarding substitute check? In certain cases, federal law provides a special procedure that allows you to request a refund for losses you suffer if a substitute check is posted to your account (for example, if you think that we withdrew the wrong amount from your account or that we withdrew money from your account more than once for the same check). The losses you may attempt to recover under this procedure may include the amount that was withdrawn from your account and fees that were charged as a result of the withdrawal (for example, bounced check fees). The amount of your refund under this procedure is limited to the amount of your loss or the amount of the substitute check, whichever is less. You also are entitled to interest on the amount of your refund if your account is an interest-bearing account. If your loss exceeds the amount of the substitute check, you may be able to recover additional amounts under other law. If you use this procedure, you may receive up to $2,500 of your refund (plus interest if your account earns interest) within 10 business days after we received your claim and the remainder of your refund (plus interest if your account earns interest) not later than 45 calendar days after we received your claim. We may reverse the refund (including any interest on the refund) if we later are able to demonstrate that the substitute check was correctly posted to your account. How can you make a claim for a refund? If you believe that you have suffered a loss relating to a substitute check that you received and that was posted to your account, please contact us by phone at (212)521-3286/3318 or by postal mail at our mailing address. You must contact us within 40 calendar days of the date that we mailed (or otherwise delivered by a means to which you agreed) the substitute check in question or the account statement showing that the substitute check was posted to your account, whichever is later. We may extend this time period if you were not able to make a timely claim because of extraordinary circumstances. Your claim must be made in writing on the prescribed form, be signed by you and include: A description of why you have suffered a loss (e.g. you think the amount withdrawn was incorrect); An estimate of the amount of your loss;
State Bank of India New York Customer Manual for Deposits 31 individuals who are members of the general public and reside in California. Accordingly, under Section 4052(f) of the California Financial Code, the Los Angeles branch does not do business with “consumers” as defined under California law and is not subject to the California Financial Information Privacy Act. Both New York and California have laws that require SBI-US to notify you in the event that unauthorized persons obtain your personal and private information maintained on our computer system. SBI-US has procedures in place to ensure that you receive such notice in the proper circumstances. SBI-US reserves the right to change the Privacy Policy at any time, but if we do so, we will notify you in a reasonable time when any change is implemented. We will also notify you annually as required by federal law. 8. FUNDS AVAILABILITY: An understanding of funds availability will help you to manage your money more easily and avoid the inconvenience of a returned check or a withdrawal request that cannot be honored. Our policy is to make funds you deposit into your SBI account(s) available for withdrawal based upon the type of deposit or check. The funds are made available within the period of time specified by federal regulations. a. How Can You Tell When Your Deposit Will Be Available? You can use the chart in this Manual to tell when your deposit will be available. To use this chart, first read the following questions and answers. b. What is the Day of Deposit? For determining the availability of your deposits, every day is a business day except Saturdays, Sundays, and Federal holidays. If you make a deposit before 4:00 pm (cash services available until 3:00 pm EST) on a business day that we are open, we will consider that day to be the day of your deposit. If you make a deposit after that time, we will consider that the deposit was made on the next business day that we are open. c. Are You a New SBI Customer? If you have been banking with SBI for 30 days or less, you are considered a new customer and special rules apply to you regarding funds availability. d. What is the Type of Deposit? The hold period or the number of days applicable for making available the funds depends on the type of deposit you make (such as a check drawn on the Bank, a check drawn on another bank/branch, or cashier’s check). e. What Items are Available on the Same Day? Cash deposits made up to 3:00 pm and checks drawn on any US offices of the Bank and Official, Certified, Cashier's and Teller's checks will be made available on the day of the deposit into the account.
State Bank of India New York Customer Manual for Deposits 43 account. What to do if you think there has been an error or problem with a remittance transfer: (1) Call us at 212-521-3234; or email at remiterror.nyb@statebank.com (2) Write to us at Remittance Section, State Bank of India, 460 Park Avenue, New York, NY-10022, USA. You must contact us within 180 days of the date we promised that the funds would be made available to the recipient. When you do, please tell us: (1) Your name and telephone number or address; (2) The error or problem with the transfer, and why you believe it is an error or problem; (3) The name of the person receiving the funds, and if you know it, his or her telephone number or address; (4) The dollar amount of the transfer; and (5) The confirmation code or number of the transaction. We will determine whether an error occurred within 90 days after you contact us, and we will correct any error promptly. We will tell you the results within three business days after completing our investigation. If we decide that there was no error, we will send you a written explanation. You may ask for copies of any documents we used in our investigation. 11. Internet Banking/ YONO US Portal: a. Internet Services This section of the Manual describes your use of the Bank’s Online Internet-based Banking Service (“Internet Banking”). By using the new Internet Banking, you may:  Open an account (Currently, this facility is not available)  Obtain account balance and other banking information  Transfer funds between own accounts  Transfer funds to other Banks within USA through Wire Transfers*  Transfer INR to India*  Transfer USD to any Bank outside USA too*  Send secure messages to the Bank  Order new checks / Stop Checks*  Uploading documents as attachment through Secure Message Platform  Pull fund from own accounts with other U.S. banks *Charges may apply b. Internet Banking Terms of Service You may enroll in our new Internet Banking at our website at https://sbinewyork.statebank/online- banking . Once you enroll on the new portal, you will have access to your account information for viewing purposes only. In order to obtain transaction rights in online banking mode, you must apply for Transaction Rights under “Requests/Services” Tab. The request shall be approved by the Bank upon receipt. During the enrollment process you will be presented with a copy of the Bank’s Online Banking Terms of Service. The Online Banking Terms of Service governs your use of the SBI Online Banking Services. Use of Internet Banking is expressly conditioned on your acceptance of these Online Banking Terms of Service. By using the Internet Banking, you acknowledge that you have read and agree to abide by the terms and conditions of these Online Banking Terms of Service. If you

Test Case

Question: What is the minimum amount required to open a Certificate of Deposit (CD) Account for a Non-US Resident Consumer?

Metric Baseline Score Current Score
answer_accuracy 0.01284404 0.01219512 (-0.00064891)
groundedness 0.86940210 0.86170260 (-0.00769950)
mean_answer_similarity 0.78289325 0.80576404 (+0.02287079)
mean_reciprocal_rank 1.00000000 1.00000000
min_answer_similarity 0.73142205 0.75006336 (+0.01864131)
model_failures 0.00000000 0.00000000
model_generation_failures 0.00000000 0.00000000
model_parse_failures 0.00000000 0.00000000
model_passes 1.00000000 1.00000000
model_retrieval_failures 0.00000000 0.00000000
precision_relevancy 0.88161281 0.87013585 (-0.01147696)
recall_relevancy 0.92369941 0.89755171 (-0.02614770)
rouge_1 0.04347826 0.04166667 (-0.00181159)
rouge_2 0.02222222 0.02127660 (-0.00094563)
rouge_l 0.04347826 0.04166667 (-0.00181159)

Legend:

  • Metric : The evaluation metric name. Shown in bold red if the metric flipped between pass/fail status.
  • Baseline Score : The metric value for the baseline model. Shown in bold green if baseline won, red if lost.
  • Current Score : The metric value for the current model, followed by the delta from baseline in parentheses.
  • Delta Colors : Green = improvement, Orange = regression, Red = metric flipped to fail.
  • Winner Determination : For each metric, the winner is determined by comparing scores while considering the metric's directionality (higher is better vs. lower is better).
Baseline Result Current Result
Model claude-3-7-sonnet-20250219@h2ogpte claude-3-7-sonnet-20250219@h2ogpte
Question What is the minimum amount required to open a Certificate of Deposit (CD) Account for a Non-US Resident Consumer?
Expected answer $10,000
Actual Answer According to the document, the minimum amount required to open a Certificate of Deposit (CD) Account for a Non-US Resident Consumer is $10,000. This information is found on page 14 of the "Customer Manual for Deposits" from State Bank of India New York, where it states in a table showing minimum balance requirements that for "Non-US Resident" "Consumer accounts" the minimum amount is "$10,000". The table clearly distinguishes between US Resident and Non-US Resident customers, as well as between Consumer accounts and Accounts of Businesses. According to the document, the minimum amount required to open a Certificate of Deposit (CD) Account for a Non-US Resident Consumer is $10,000. This information is found on page 14 of the State Bank of India New York Customer Manual for Deposits, which shows a table with minimum deposit requirements for different types of accounts. The table specifically indicates that for Certificate of Deposit accounts, US Resident Consumer accounts require $5,000, while Non-US Resident Consumer accounts require $10,000. Both US and Non-US Resident Business accounts require $10,000.
Retrieved Context
State Bank of India New York Customer Manual for Deposits 14 Type US Resident Non-US Resident Consumer accounts $5,000 $10,000 Accounts of Businesses $10,000 $10,000 f. Early Withdrawal Penalty: The principal amount of CD cannot usually be withdrawn before the maturity date, unless the Bank consents to the withdrawal as a special case. We may require that all holders of a joint account authorize a premature withdrawal of the principal from a CD account. Partial withdrawal is not permitted. The penalty for early withdrawals of CD is as follows: Term of Deposit No of Days for which Interest will be recovered 14 days 14 days 1 month to less than 1 year 30 days 1 year to less than 3 years 60 days 3 years to less than 5 years 120 days 5 years & over 180 days The penalty will be calculated at the same interest rate of the deposit. A penalty will not be charged if the premature withdrawal is caused by the death of the depositor or if the depositor is declared legally incompetent. g. Principal Protection: SBI New York Certificate of Deposit comes with “Principal Protection” feature. The penalty for early withdrawal would be limited up to the amount of interest paid / payable and will not result in reduction of the amount originally deposited. h. Renewal: If your CD is for a term of more than 30 days, we will send you a maturity notice not less than 14 days and not more than 30 days prior to the maturity date. No maturity notice will be sent for Certificate of Deposit with term of 30 days or less.
State Bank of India New York Customer Manual for Deposits 45 B. Service Fees & Charges Consumer Accounts Accounts of Business/ Associations Excess Transaction charges – Each transaction in Money Market Accounts in excess of 6 transfers or withdrawals or a combination of these in a statement period. $5 $5 Checks returned or paid against insufficient or unavailable funds # $10 $15 SCHEDULE OF FEES & CHARGES Minimum Balance Requirements & Service Charges Checking Account Money Market Account Consumer A/C Business/Associations Consumer A/c Business/Associations USA Resident Minimum daily balance 1,000 $ 20,000 $2,500 $ 50,000 Monthly service charge (if the balance falls below minimum on any day of the month) $15* (effective 01/01/2020) $ 50 $20* (effective 01/01/2020) $ 50 Non-USA Resident Minimum daily balance Opened at the sole discretion of the Bank and as per its Policy. Minimum balance is $10,000 Opened at the sole discretion of the Bank and as per its Policy. Minimum balance is $ 50,000 Opened at the sole discretion of the Bank and as per its Policy. Minimum balance is $ 25,000 Opened at the sole discretion of the Bank and as per its Policy. Minimum balance is $ 100,000 Monthly service charge (if the balance falls below minimum on any day of the month) $20* (effective 01/01/2020) $50 $25* (effective 01/01/2020) $50 Note : Consumer accounts = Accounts of natural persons
State Bank of India New York Customer Manual for Deposits 13 4.3. CERTIFICATE OF DEPOSIT (“CD”) A CD earns a fixed rate of interest when an amount of money (principal) is left on deposit with the Bank for a fixed period (a fixed number of days, months or years). After an account is opened, you may not make deposits into or withdraw from this account until the maturity date. Premature withdrawal of principal would attract a penalty. Refer to “Penalty for Early Withdrawal of Principal” (Section f). We offer CDs with maturities from 3 months to 5 years. Bank also accepts deposit for a tenor from 7 days to 3 months on a case to case basis. a. Interest Rate: The interest rate earned on a Certificate of Deposit will be a guaranteed fixed rate for the term of the CD. This rate is determined by the Bank, based on market conditions, at the time the account is opened or renewed. Presently we are not offering floating rate Certificate of Deposits. For current rate information, you may visit our website https://sbinewyork.statebank or call 212-521-3390. b. Annual Percentage Yield (APY): Our Certificates of Deposit are offered on simple interest (also called non-cumulative interest) and compound interest (also called cumulative interest) basis, depending upon your choice. For CDs with simple interest, there will not be any difference in the interest rate (also called Annual Percentage Rate, or APR) and the Annual Percentage Yield (APY). For CDs where interest is compounded, the Annual Percentage Yield measures the total amount of interest paid on the account in a year based on the interest rate and the frequency of compounding, which is quarterly. The interest is calculated on a 365 days basis. c. Compounding Period/Payment of Interest: If you choose to receive simple interest (non- cumulative) on your CD, you may opt to withdraw the interest at monthly/quarterly/half-yearly intervals, at the time of opening or renewing the CD, provided the deposit is for one year or more. For CDs of less than six months, the simple interest is paid at maturity. If you choose to receive compounded interest on your CD, interest will be compounded at quarterly intervals and will be paid along with the principal at the time of maturity. This option is only available for CDs of six months or higher maturities.
State Bank of India New York Customer Manual for Deposits 7 Bank to open the account. h) If you reside outside the United States and desire to open an account, you should send photocopies of passports duly attested by the Indian Embassy/High Commission of India or by a branch of State Bank of India. i) If you are a corporation or foreign partnership and desire to open an account in that name, the requirements may vary as detailed under ‘Accounts of Businesses’ listed under item 3. j) Individuals should apply on form DEP-1 and non-individuals should apply on form DEP-3. These forms contain a check-list of documents required and formalities to be completed for opening of accounts. Existing account holders wishing to open additional CDs should apply on form DEP-CD. k) Bank reserves the right to ask for additional documents on a case to case basis. l) In the event that we are unable to verify your address upon account opening, we will send you a letter through USPS certified mail/FedEx with a return acknowledgement receipt to confirm the address. In the event that the acknowledgement receipt is not returned to us within thirty (30) days from the account opening date, we may close the account.
State Bank of India New York Customer Manual for Deposits 16 Maturity period of deposit Number of days for which interest will be recovered 1 year to less than 3 years 60 days 3 years to less than 5 years 120 days 5 years & over 180 days The penalty will be calculated at the same interest rate of the deposit. A penalty will not be charged in case the withdrawal is caused by death of the depositor or if the depositor is declared legally incompetent. Principal Protection: SBI New York Certificate of Deposit comes with the “Principal Protection” feature. The penalty for early withdrawal would be limited up to the amount of interest paid / payable and will not result in reduction of the amount originally deposited. g. Interest Payment Method: When opening the CD, you may opt to receive the periodic interest payments by any one of the following: • Through ACH/Wire transfer to your designated bank account • By an official check through regular mail • In your Checking or Money Market Deposit Account with us. h. Renewal: We will send you a maturity notice not less than 14 days and not more than 30 days prior to the maturity date. If we do not hear from you, and unless you had specifically advised us against automatic renewal when you opened the CD, we will automatically renew the CD after 10 calendar days, under the same product for a period of one year at the rate offered for one year term on the date the CD matured. In the absence of your instruction for disposal of the maturity proceeds (where automatic renewal option has been declined), the maturity amount will be placed in a non-interest bearing account. CDs that were automatically renewed have a ten- calendar-day grace period (including the date of maturity). During the grace period, you may withdraw the amount of your deposit without incurring a premature withdrawal penalty. However, no interest will be paid from the date of maturity until the date of such withdrawal. If you choose to renew your deposit, during this grace period of 10 days, from a date later than the date of maturity, no interest will be paid from the date of maturity until the date of such renewal. Please, however, note that written instructions for withdrawal should be received by us within the grace period. The instructions will be accepted through Secured Messaging on Internet Banking Portal/Mail/In person visits to the Bank. CDs that mature on Saturdays, Sundays or Federal holidays will be available for withdrawal on the next business day and interest will be paid until the maturity date. CDs may not be negotiated or transferred to another individual or corporation. Your existing CDs may also be renewed as Senior Citizen CD in case you fulfil the eligibility norms subject to receipt of written request to convert the CD into a Senior Citizen CD. Existing CDs will not be auto renewed as Senior Citizen CD even though you may fulfil the eligibility conditions.
State Bank of India New York Customer Manual for Deposits 8 age of 18 years after which the minor should be given full authority to operate the account. 3. ACCOUNTS OF BUSINESSES 3.1 Corporate Accounts To establish a corporate account, the Bank requires among other information/documents the following:  A copy of the Certificate of Incorporation with proof of filing  Articles of Incorporation or Association.  Proof of Business Address.  Certificate of Beneficial owners, wherever applicable.  For a corporation registered / incorporated in India, Reserve Bank of India approval for opening the account, wherever applicable, is also required.  A copy of corporate resolution adopted by the Board of Directors of the corporation authorizing:  opening of the account and stating the person(s) who can do so;  Identification of the persons who can operate the account; and  Extent of powers vested in these official(s) including instructions regarding restrictions on operation (e.g., whether the account is to be operated singly or jointly and the extent to which each signatory could sign checks or other debit authority and/or apply for credits on behalf of the corporation).  Government issued photo identification of all of the authorized signatories, beneficial owners, controlling officials. If such signatories are US residents, SSN is also required.
State Bank of India New York Customer Manual for Deposits 11 age or older. For every additional withdrawal or check beyond above mentioned number in a statement cycle, $5 will be recovered e. Restriction on the number of credits/deposits: No restriction. f. Availability of account statement and frequency of monthly statement: Account statements at monthly intervals will be provided. 4.2 Money Market Deposit (MMD) Account This is an interest-bearing account from which withdrawals can be made in accordance with certain prescribed restrictions. Tiered interest rate is available on money market accounts based on the balances available in the account. The minimum deposit required for opening an account is the minimum daily balance requirement for the account which is tabled below. The daily minimum balances required to be maintained to avoid monthly service charges are as follows: Consumer Account Business/ Associations US Resident Customer $2,500 $50,000 Non-US Resident Customer $25,000 $ 100,000 A minimum balance service charge as listed in our “Schedule of Fees & Charges” in this Manual will be imposed every month if the balance in the account falls below the required minimum during any day of a calendar month. If the balance is less than the amount required to be deducted as service charge, the so available balance will be treated as service charges and the account may be closed forthwith, with notice to the customer at the last available address in our records. No overdraft is permitted under any circumstances in this account. Any check presented with insufficient funds will be dishonored. Service charges are listed in our “Schedule of Fees & Charges” in this Manual. A Money Market Deposit Account for Non-US Resident consumer or business/association would be opened at the sole discretion of the Bank and as per its policy, either on the same terms and conditions as for U.S- resident customers or on mutually agreed terms and conditions. Monthly service charges are listed in our “Schedule of Fees & Charges” in this Manual. Early closure fees will apply if you close your account within three months of opening. Other Features of Money Market Deposit Accounts a. Interest Rate: Tiered interest rate is available on MMD accounts based on the balances available in account. Interest rate on these accounts may vary from time to time. The Bank reserves the right to change the rate at any time. There is no limitation as to the percentage amount the interest rate may vary. You may visit our website https://sbinewyork.statebank or call (212) 521-3200 for information on the current rate of interest. b. Payment of Interest: Interest will accrue on your day-end balance. Interest earned during the month will be credited to the account at the close of business on the last business day of the month and will be made available to you on the first business day of the following month. There is no minimum balance required to earn the stated annual percentage yield. For non-cash deposits made into your account (for example checks) interest begins to accrue no later than the business day we receive credit for the deposit of the non-cash items. If the account is closed during the middle of a
d. Minimum Balance Requirement: The minimum amount required for each CD will be USD 25,000. There is no maximum limit under the product. e. Early Withdrawal Penalty: All premature withdrawals incur a penalty as mentioned below. Partial withdrawal is not permitted.
d. Interest Payment Method: When opening the CD, you may opt to receive the periodic interest payments by any one of the following: • Through ACH/Wire transfer to your designated bank account • By an official check through regular mail • In your Checking or Money Market Deposit Account with us. If you opt to receive compounded interest (cumulative), we will pay you interest along with the principal at the time of maturity of the CD. e. Minimum Balance Requirement: The minimum amount required for each CD may vary for US resident depositors and those based outside the USA. It may also vary for consumer and accounts of businesses. Currently, the following are the minimum balances:
State Bank of India New York Customer Manual for Deposits 10 Consumer Account Business/ Associations US Resident $1,000 $20,000 Non- US Resident $10,000 $50,000 A minimum balance service charge as listed in our “Schedule of Fees & Charges” in this Manual will be imposed every month if the balance in the account falls below the required minimum during any day of a calendar month. If the balance is less than the amount required to be deducted as a service charge, the available balance will be treated as service charges and the account may be closed forthwith, with notice to the customer at the last available address in our records. A checking account for a Non US resident consumer or business/association will be opened at the sole discretion of the Bank and as per its policy, either on the same terms and conditions as for U.S.-resident customers or on separate terms and conditions. No overdraft is permitted under any circumstances in this account. Any check presented with insufficient funds will be dishonored. Service charges are listed in our “Schedule of Fees & Charges” in this Manual. Early closure fees will apply if you close your account within three months of opening. The Bank will provide a statement of account at monthly intervals. 4.1.1 Basic Checking Account In order to provide low cost banking services, we offer “basic banking” checking accounts to all consumers who fulfill the following requirements: • Residents of New York State. • The consumer is required to close all other transaction accounts with our Bank or any other banking institution and will be given a period of 60 days (from the date the basic banking account is opened) to do so. If other transaction account/s is/are not closed within 60 days, the said basic checking account shall be closed by the Bank. • Receive direct credit of a recurring payment such as Social Security, wages or pension payments. • Have limited monthly transactions. • Desire basic checking services. Salient Features of Basic Checking Accounts a. Minimum deposit to open the account: $25. b. Minimum monthly balance required to be maintained: No minimum balance. c. Monthly maintenance fee: i) Nil, if the daily balance is $500 or more. ii) Otherwise $3 per month.
State Bank of India New York Customer Manual for Deposits 14 Type US Resident Non-US Resident Consumer accounts $5,000 $10,000 Accounts of Businesses $10,000 $10,000 f. Early Withdrawal Penalty: The principal amount of CD cannot usually be withdrawn before the maturity date, unless the Bank consents to the withdrawal as a special case. We may require that all holders of a joint account authorize a premature withdrawal of the principal from a CD account. Partial withdrawal is not permitted. The penalty for early withdrawals of CD is as follows: Term of Deposit No of Days for which Interest will be recovered 14 days 14 days 1 month to less than 1 year 30 days 1 year to less than 3 years 60 days 3 years to less than 5 years 120 days 5 years & over 180 days The penalty will be calculated at the same interest rate of the deposit. A penalty will not be charged if the premature withdrawal is caused by the death of the depositor or if the depositor is declared legally incompetent. g. Principal Protection: SBI New York Certificate of Deposit comes with “Principal Protection” feature. The penalty for early withdrawal would be limited up to the amount of interest paid / payable and will not result in reduction of the amount originally deposited. h. Renewal: If your CD is for a term of more than 30 days, we will send you a maturity notice not less than 14 days and not more than 30 days prior to the maturity date. No maturity notice will be sent for Certificate of Deposit with term of 30 days or less.
State Bank of India New York Customer Manual for Deposits 8 age of 18 years after which the minor should be given full authority to operate the account. 3. ACCOUNTS OF BUSINESSES 3.1 Corporate Accounts To establish a corporate account, the Bank requires among other information/documents the following:  A copy of the Certificate of Incorporation with proof of filing  Articles of Incorporation or Association.  Proof of Business Address.  Certificate of Beneficial owners, wherever applicable.  For a corporation registered / incorporated in India, Reserve Bank of India approval for opening the account, wherever applicable, is also required.  A copy of corporate resolution adopted by the Board of Directors of the corporation authorizing:  opening of the account and stating the person(s) who can do so;  Identification of the persons who can operate the account; and  Extent of powers vested in these official(s) including instructions regarding restrictions on operation (e.g., whether the account is to be operated singly or jointly and the extent to which each signatory could sign checks or other debit authority and/or apply for credits on behalf of the corporation).  Government issued photo identification of all of the authorized signatories, beneficial owners, controlling officials. If such signatories are US residents, SSN is also required.
State Bank of India New York Customer Manual for Deposits 45 B. Service Fees & Charges Consumer Accounts Accounts of Business/ Associations Excess Transaction charges – Each transaction in Money Market Accounts in excess of 6 transfers or withdrawals or a combination of these in a statement period. $5 $5 Checks returned or paid against insufficient or unavailable funds # $10 $15 SCHEDULE OF FEES & CHARGES Minimum Balance Requirements & Service Charges Checking Account Money Market Account Consumer A/C Business/Associations Consumer A/c Business/Associations USA Resident Minimum daily balance 1,000 $ 20,000 $2,500 $ 50,000 Monthly service charge (if the balance falls below minimum on any day of the month) $15* (effective 01/01/2020) $ 50 $20* (effective 01/01/2020) $ 50 Non-USA Resident Minimum daily balance Opened at the sole discretion of the Bank and as per its Policy. Minimum balance is $10,000 Opened at the sole discretion of the Bank and as per its Policy. Minimum balance is $ 50,000 Opened at the sole discretion of the Bank and as per its Policy. Minimum balance is $ 25,000 Opened at the sole discretion of the Bank and as per its Policy. Minimum balance is $ 100,000 Monthly service charge (if the balance falls below minimum on any day of the month) $20* (effective 01/01/2020) $50 $25* (effective 01/01/2020) $50 Note : Consumer accounts = Accounts of natural persons
State Bank of India New York Customer Manual for Deposits 7 Bank to open the account. h) If you reside outside the United States and desire to open an account, you should send photocopies of passports duly attested by the Indian Embassy/High Commission of India or by a branch of State Bank of India. i) If you are a corporation or foreign partnership and desire to open an account in that name, the requirements may vary as detailed under ‘Accounts of Businesses’ listed under item 3. j) Individuals should apply on form DEP-1 and non-individuals should apply on form DEP-3. These forms contain a check-list of documents required and formalities to be completed for opening of accounts. Existing account holders wishing to open additional CDs should apply on form DEP-CD. k) Bank reserves the right to ask for additional documents on a case to case basis. l) In the event that we are unable to verify your address upon account opening, we will send you a letter through USPS certified mail/FedEx with a return acknowledgement receipt to confirm the address. In the event that the acknowledgement receipt is not returned to us within thirty (30) days from the account opening date, we may close the account.
State Bank of India New York Customer Manual for Deposits 13 4.3. CERTIFICATE OF DEPOSIT (“CD”) A CD earns a fixed rate of interest when an amount of money (principal) is left on deposit with the Bank for a fixed period (a fixed number of days, months or years). After an account is opened, you may not make deposits into or withdraw from this account until the maturity date. Premature withdrawal of principal would attract a penalty. Refer to “Penalty for Early Withdrawal of Principal” (Section f). We offer CDs with maturities from 3 months to 5 years. Bank also accepts deposit for a tenor from 7 days to 3 months on a case to case basis. a. Interest Rate: The interest rate earned on a Certificate of Deposit will be a guaranteed fixed rate for the term of the CD. This rate is determined by the Bank, based on market conditions, at the time the account is opened or renewed. Presently we are not offering floating rate Certificate of Deposits. For current rate information, you may visit our website https://sbinewyork.statebank or call 212-521-3390. b. Annual Percentage Yield (APY): Our Certificates of Deposit are offered on simple interest (also called non-cumulative interest) and compound interest (also called cumulative interest) basis, depending upon your choice. For CDs with simple interest, there will not be any difference in the interest rate (also called Annual Percentage Rate, or APR) and the Annual Percentage Yield (APY). For CDs where interest is compounded, the Annual Percentage Yield measures the total amount of interest paid on the account in a year based on the interest rate and the frequency of compounding, which is quarterly. The interest is calculated on a 365 days basis. c. Compounding Period/Payment of Interest: If you choose to receive simple interest (non- cumulative) on your CD, you may opt to withdraw the interest at monthly/quarterly/half-yearly intervals, at the time of opening or renewing the CD, provided the deposit is for one year or more. For CDs of less than six months, the simple interest is paid at maturity. If you choose to receive compounded interest on your CD, interest will be compounded at quarterly intervals and will be paid along with the principal at the time of maturity. This option is only available for CDs of six months or higher maturities.
State Bank of India New York Customer Manual for Deposits 11 age or older. For every additional withdrawal or check beyond above mentioned number in a statement cycle, $5 will be recovered e. Restriction on the number of credits/deposits: No restriction. f. Availability of account statement and frequency of monthly statement: Account statements at monthly intervals will be provided. 4.2 Money Market Deposit (MMD) Account This is an interest-bearing account from which withdrawals can be made in accordance with certain prescribed restrictions. Tiered interest rate is available on money market accounts based on the balances available in the account. The minimum deposit required for opening an account is the minimum daily balance requirement for the account which is tabled below. The daily minimum balances required to be maintained to avoid monthly service charges are as follows: Consumer Account Business/ Associations US Resident Customer $2,500 $50,000 Non-US Resident Customer $25,000 $ 100,000 A minimum balance service charge as listed in our “Schedule of Fees & Charges” in this Manual will be imposed every month if the balance in the account falls below the required minimum during any day of a calendar month. If the balance is less than the amount required to be deducted as service charge, the so available balance will be treated as service charges and the account may be closed forthwith, with notice to the customer at the last available address in our records. No overdraft is permitted under any circumstances in this account. Any check presented with insufficient funds will be dishonored. Service charges are listed in our “Schedule of Fees & Charges” in this Manual. A Money Market Deposit Account for Non-US Resident consumer or business/association would be opened at the sole discretion of the Bank and as per its policy, either on the same terms and conditions as for U.S- resident customers or on mutually agreed terms and conditions. Monthly service charges are listed in our “Schedule of Fees & Charges” in this Manual. Early closure fees will apply if you close your account within three months of opening. Other Features of Money Market Deposit Accounts a. Interest Rate: Tiered interest rate is available on MMD accounts based on the balances available in account. Interest rate on these accounts may vary from time to time. The Bank reserves the right to change the rate at any time. There is no limitation as to the percentage amount the interest rate may vary. You may visit our website https://sbinewyork.statebank or call (212) 521-3200 for information on the current rate of interest. b. Payment of Interest: Interest will accrue on your day-end balance. Interest earned during the month will be credited to the account at the close of business on the last business day of the month and will be made available to you on the first business day of the following month. There is no minimum balance required to earn the stated annual percentage yield. For non-cash deposits made into your account (for example checks) interest begins to accrue no later than the business day we receive credit for the deposit of the non-cash items. If the account is closed during the middle of a
State Bank of India New York Customer Manual for Deposits 16 Maturity period of deposit Number of days for which interest will be recovered 1 year to less than 3 years 60 days 3 years to less than 5 years 120 days 5 years & over 180 days The penalty will be calculated at the same interest rate of the deposit. A penalty will not be charged in case the withdrawal is caused by death of the depositor or if the depositor is declared legally incompetent. Principal Protection: SBI New York Certificate of Deposit comes with the “Principal Protection” feature. The penalty for early withdrawal would be limited up to the amount of interest paid / payable and will not result in reduction of the amount originally deposited. g. Interest Payment Method: When opening the CD, you may opt to receive the periodic interest payments by any one of the following: • Through ACH/Wire transfer to your designated bank account • By an official check through regular mail • In your Checking or Money Market Deposit Account with us. h. Renewal: We will send you a maturity notice not less than 14 days and not more than 30 days prior to the maturity date. If we do not hear from you, and unless you had specifically advised us against automatic renewal when you opened the CD, we will automatically renew the CD after 10 calendar days, under the same product for a period of one year at the rate offered for one year term on the date the CD matured. In the absence of your instruction for disposal of the maturity proceeds (where automatic renewal option has been declined), the maturity amount will be placed in a non-interest bearing account. CDs that were automatically renewed have a ten- calendar-day grace period (including the date of maturity). During the grace period, you may withdraw the amount of your deposit without incurring a premature withdrawal penalty. However, no interest will be paid from the date of maturity until the date of such withdrawal. If you choose to renew your deposit, during this grace period of 10 days, from a date later than the date of maturity, no interest will be paid from the date of maturity until the date of such renewal. Please, however, note that written instructions for withdrawal should be received by us within the grace period. The instructions will be accepted through Secured Messaging on Internet Banking Portal/Mail/In person visits to the Bank. CDs that mature on Saturdays, Sundays or Federal holidays will be available for withdrawal on the next business day and interest will be paid until the maturity date. CDs may not be negotiated or transferred to another individual or corporation. Your existing CDs may also be renewed as Senior Citizen CD in case you fulfil the eligibility norms subject to receipt of written request to convert the CD into a Senior Citizen CD. Existing CDs will not be auto renewed as Senior Citizen CD even though you may fulfil the eligibility conditions.
State Bank of India New York Customer Manual for Deposits 28 • Certify: An act by which the Bank conveys that the check, so accepted, will be paid, if otherwise in order. The Bank is obligated to make payments for all checks certified by it. Your account will be debited with the amount, at the time of certifying the check. • Collateral: Any property /security pledged for use in repaying loans in case of default. • Compound/Compounding: The interest paid on the interest left behind on deposit in your account. • Consumer: A natural person who holds an account, primarily for personal, family or household purposes. • Daily Balance Method: This method applies a daily periodic rate to the principal in the account each day. • Double-Endorsed Check: A check with an endorsement in addition to the endorsement(s) of the original payee(s). • Electronic Fund Transfer: Any transfer of money initiated by electronic means to or from a bank account of a customer. • Interest Rate: This refers to the annual simple interest the account will earn. • Maturity: The end of the agreed period of time for which an account was opened (applicable to CD or loan accounts).
3.5 Limited Liability Company (“LLC”) The following documents are required:  The LLC’s organizational documents (Articles of Organization and Operating Agreement)  The names of all the members and managers of the LLC shall be provided with all the same identification as required for corporations above.  A certified copy of a resolution of the Managers of the LLC providing all the same information required in the corporate resolution set forth above.  Certificate of Beneficial owners, wherever applicable. 4. TYPES OF ACCOUNTS Three types of deposit accounts may be opened:  Checking Account  Money Market Deposit (MMD) Account  Certificate of Deposit (CD) Account 4.1 Checking Account This is a non-interest bearing account with no restrictions on the number of withdrawals or credits. However, Bank has the discretion to pay interest on a product variant. The minimum deposit required for opening an account is the minimum daily balance requirement for the account which is tabled below. The daily minimum balance required to be maintained to avoid monthly service charges are as follows:
d. Minimum Balance Requirement: The minimum amount required for each CD will be USD 25,000. There is no maximum limit under the product. e. Early Withdrawal Penalty: All premature withdrawals incur a penalty as mentioned below. Partial withdrawal is not permitted.

Test Case

Question: What is the monthly service charge for a Money Market Deposit Account if the balance falls below the minimum on any day of the month for a Non-US Resident consumer?

Metric Baseline Score Current Score
answer_accuracy 0.00519931 0.00438596 (-0.00081334)
groundedness 0.89018695 0.89508529 (+0.00489834)
mean_answer_similarity 0.80809404 0.80397619 (-0.00411785)
mean_reciprocal_rank 1.00000000 1.00000000
min_answer_similarity 0.78132688 0.77708545 (-0.00424143)
model_failures 0.00000000 0.00000000
model_generation_failures 0.00000000 0.00000000
model_parse_failures 0.00000000 0.00000000
model_passes 1.00000000 1.00000000
model_retrieval_failures 0.00000000 0.00000000
precision_relevancy 0.87553286 0.87738661 (+0.00185375)
recall_relevancy 0.92697132 0.92697132
rouge_1 0.01980198 0.01709402 (-0.00270796)
rouge_2 0.00000000 0.00000000
rouge_l 0.01980198 0.01709402 (-0.00270796)

Legend:

  • Metric : The evaluation metric name. Shown in bold red if the metric flipped between pass/fail status.
  • Baseline Score : The metric value for the baseline model. Shown in bold green if baseline won, red if lost.
  • Current Score : The metric value for the current model, followed by the delta from baseline in parentheses.
  • Delta Colors : Green = improvement, Orange = regression, Red = metric flipped to fail.
  • Winner Determination : For each metric, the winner is determined by comparing scores while considering the metric's directionality (higher is better vs. lower is better).
Baseline Result Current Result
Model claude-3-7-sonnet-20250219@h2ogpte claude-3-7-sonnet-20250219@h2ogpte
Question What is the monthly service charge for a Money Market Deposit Account if the balance falls below the minimum on any day of the month for a Non-US Resident consumer?
Expected answer $25
Actual Answer According to the document, the monthly service charge for a Money Market Deposit Account if the balance falls below the minimum on any day of the month for a Non-US Resident consumer is $25 (effective 01/01/2020). This information is found on page 45 of the document in the "SCHEDULE OF FEES & CHARGES Minimum Balance Requirements & Service Charges" section. The minimum daily balance requirement for a Non-US Resident consumer Money Market Account is $25,000, and if the balance falls below this minimum on any day of the month, the $25 monthly service charge will be applied. According to the document, the monthly service charge for a Money Market Deposit Account if the balance falls below the minimum on any day of the month for a Non-US Resident consumer is $25 (effective 01/01/2020). This information is found on page 45 of the document in the "SCHEDULE OF FEES & CHARGES Minimum Balance Requirements & Service Charges" section, which shows the monthly service charge for Non-USA Resident Consumer Accounts for Money Market Accounts. The minimum daily balance requirement for a Non-US Resident consumer's Money Market Deposit Account is $25,000, and if the balance falls below this minimum on any day of the month, the $25 monthly service charge applies.
Retrieved Context
Notice Regarding Money Market Deposit Accounts: If the Account is a Money Market Deposit Account, certain limitations on transactions apply. A maximum of 6 transfers or withdrawals, or a combination of such transfers or withdrawals, are permitted during a calendar month or statement cycle of at least four weeks, including transfers or withdrawal by check, ACH to third parties, and/or Debit Card transactions with Merchant Establishments. However, any number of the following transactions using the Debit Card at an ATM are permitted: cash withdrawals; transfers of funds between your own Accounts held with the Bank; and balance inquiries.
e. Withdrawals: When writing checks on your Checking or Money Market Deposit Account, please ensure that:  The amount is stated in US dollars;  The amount is within the available balance in your account. The available balance in your account may be affected because of other transactions, including debit card transactions. Checks which exceed the available balance in your account may be returned unpaid and are subject to a charge as indicated in “Schedule of Fees & Charges”. The Bank reserves the right to pay a stale check, i.e., a check more than 6 months old. A request for a withdrawal or transfer may not be honored in circumstances such as, but not limited to, these:  If the Bank has instructions to the contrary from a joint account holder. In such cases the signatures of all account holders would be required on any authorization.  If a court order/legal process prohibits the Bank from doing so.  If the Bank suspects fraud or violation, including money laundering.  If there is a dispute to the Bank’s knowledge.  If the account is pledged as collateral and has been set-off against overdue debts.  If the account is seized by State /Federal agency.  If the payee is not properly identified to us.  If the withdrawal/transfer exceeds the permissible number (e.g., more than 6 checks per statement period in Money Market Deposit Accounts).
3.5 Limited Liability Company (“LLC”) The following documents are required:  The LLC’s organizational documents (Articles of Organization and Operating Agreement)  The names of all the members and managers of the LLC shall be provided with all the same identification as required for corporations above.  A certified copy of a resolution of the Managers of the LLC providing all the same information required in the corporate resolution set forth above.  Certificate of Beneficial owners, wherever applicable. 4. TYPES OF ACCOUNTS Three types of deposit accounts may be opened:  Checking Account  Money Market Deposit (MMD) Account  Certificate of Deposit (CD) Account 4.1 Checking Account This is a non-interest bearing account with no restrictions on the number of withdrawals or credits. However, Bank has the discretion to pay interest on a product variant. The minimum deposit required for opening an account is the minimum daily balance requirement for the account which is tabled below. The daily minimum balance required to be maintained to avoid monthly service charges are as follows:
c. Deposits: You can make deposits: • By check in person, during regular banking hours at the teller counter at the Bank. (Our regular banking hours are 9 AM - 4 PM ET Monday through Friday. Cash services are available only up to 3 PM ET) • By check in mail • By wire transfer • By pre-authorized credit such as for Social Security benefits • By cash in person, at our discretion Cash deposits may be subject to the Bank Secrecy Act reporting provisions. You may be asked to show a valid state id for cash deposit. There are no restrictions on the number of deposits in both Checking and Money Market Deposit Accounts. Funds will be made available in Checking Accounts as described in section 8 “Funds Availability.” The Bank maintains the right, for any reason or for no reason, to refuse to accept a deposit, or return in full or in part any deposit. Note - Check received in mail on any given day will be processed only on next business day. d. The Bank as Collecting Agent: The Bank accepts items for deposit or collection, as your collecting agent, subject to the following conditions:  All items will be credited subject to actual payment.  If payment is not received and the instrument is returned unpaid, the Bank shall have the right to charge back the item to your account. A service charge will also be levied for checks returned unpaid.
State Bank of India New York Customer Manual for Deposits 45 B. Service Fees & Charges Consumer Accounts Accounts of Business/ Associations Excess Transaction charges – Each transaction in Money Market Accounts in excess of 6 transfers or withdrawals or a combination of these in a statement period. $5 $5 Checks returned or paid against insufficient or unavailable funds # $10 $15 SCHEDULE OF FEES & CHARGES Minimum Balance Requirements & Service Charges Checking Account Money Market Account Consumer A/C Business/Associations Consumer A/c Business/Associations USA Resident Minimum daily balance 1,000 $ 20,000 $2,500 $ 50,000 Monthly service charge (if the balance falls below minimum on any day of the month) $15* (effective 01/01/2020) $ 50 $20* (effective 01/01/2020) $ 50 Non-USA Resident Minimum daily balance Opened at the sole discretion of the Bank and as per its Policy. Minimum balance is $10,000 Opened at the sole discretion of the Bank and as per its Policy. Minimum balance is $ 50,000 Opened at the sole discretion of the Bank and as per its Policy. Minimum balance is $ 25,000 Opened at the sole discretion of the Bank and as per its Policy. Minimum balance is $ 100,000 Monthly service charge (if the balance falls below minimum on any day of the month) $20* (effective 01/01/2020) $50 $25* (effective 01/01/2020) $50 Note : Consumer accounts = Accounts of natural persons
m. Change of Address, e-mail address, telephone number and account details: Please update us promptly of any change of address, e-mail address, telephone number or account details and include a complete list of all your accounts and account numbers. Please use Customer Information Update Form (CIP Form) available on our website for update of any information and submit the same along with copy of valid Photo ID and Address proof. Bank reserves the right to ask for additional documents on a case to case basis. If you do not inform us of the changes, mailing of account statements may be withheld and the accounts may be blocked for further transactions until we hear from you. Bank may ask you to update your account information through remediation form as and when there is any material change, or whenever bank requires. If this information is not provided within a reasonable time (30 days), the Bank may decide to decline further transactions in the account and may also close the account if not received the same in subsequent 60 days. For proof of the new address, a utility bill, State issued ID with current address, or Letter issued by Government Authority to the current address to give effect to your change of address request may be provided. All requests for Change of Address, e-mail address, telephone number and account details should be submitted along with a copy of valid ID document. Bank may also call you on your registered number for confirming the details given on the request. If your signed request for email/phone number change is received through modes other than online banking and over the counter, there will be a 30 day debit restriction on your account. n. Closing an Account: You may close your Checking /Money Market Deposit Account at any time provided the funds on deposit are not held against uncollected deposited checks or attached by any legal action. A service charge would apply to Checking/Money Market Deposit Accounts closed within three months of opening. If a hold is placed on your account because of a pre-approved merchant transaction done using your debit card, the Bank may not close the account until the transaction is completed or the hold is removed.
b) The Bank shall be entitled to terminate the Card with immediate effect without notice and the Card shall be returned upon the occurrence of any of the following events: • Card Holder’s failure to comply with the terms and conditions herein. • The Card Holder’s default under an agreement or commitment entered into with the Bank. • The Card Holder becomes the subject of any bankruptcy, insolvency proceedings or proceedings of the similar nature. • Demise of the Cardholder. • Failure to maintain minimum required balance to cover transactions. s. Error Resolution: Disputes of ATM or Merchant Establishment Transactions appearing on the Card Holder’s Periodic Statement are subject to the Error Resolution Procedure as mentioned herein. Your rights to a refund or returned merchandise are generally the same as if you had paid by cash or check, and generally must be resolved with the merchant. You will get a monthly statement of your Checking/Money Market account, if the account is not inactive or dormant, which will contain the details of your Debit Card transactions. If you think your statement or receipt is wrong or if you need more information about a transaction listed on the statement, or if you feel that there are other errors or if you have questions about your debit card transactions, please follow the procedures listed here: a) Initial and annual error resolution In Case of Errors or Questions About Your Electronic Transfers telephone or write to us at the following address: State Bank of India Deposit Section 460 Park Avenue, New York, N.Y 10022 Tel: (212)521-3342/3318 as soon as you can, if you think your statement or receipt is wrong or if you need more information about a transfer listed on the statement or receipt. We must hear from you no later than 60 days after we sent the FIRST statement on which the problem or error appeared.
d. Interest Payment Method: When opening the CD, you may opt to receive the periodic interest payments by any one of the following: • Through ACH/Wire transfer to your designated bank account • By an official check through regular mail • In your Checking or Money Market Deposit Account with us. If you opt to receive compounded interest (cumulative), we will pay you interest along with the principal at the time of maturity of the CD. e. Minimum Balance Requirement: The minimum amount required for each CD may vary for US resident depositors and those based outside the USA. It may also vary for consumer and accounts of businesses. Currently, the following are the minimum balances:
f) Non-Resident Aliens and non-US Corporations, who may not have either SSN or TIN, should periodically certify (once in three years) to us their foreign status on the relevant IRS Forms - W-8BEN, W-8ECI, W-8EXP, or other applicable forms, failing which their account/s may be subject to Back up Withholding Tax as applicable. Bank at its discretion may also close the account for non-certification. For more details regarding tax implications, and type/nature of applicable forms to be submitted to the Bank, you are advised to be guided by the official website of IRS https://www.irs.gov/ g) Documents for identification for Consumers: At least two current documents should be submitted, one of which must be one of the primary IDs listed below. At least one of your documents should have your current address. Primary Secondary State Driver’s License with photo Passport State ID Card with photo US Alien Registration Card with photo Pay Stub Bank Statement Utility Bill Income Tax Return W2 Income Statement US VISA Page (in Passport) Birth Certificate Social Security Card Insurance Card Student ID Card Property Tax Bill Letter issued by Government Authority to the current address
State Bank of India New York Customer Manual for Deposits 10 Consumer Account Business/ Associations US Resident $1,000 $20,000 Non- US Resident $10,000 $50,000 A minimum balance service charge as listed in our “Schedule of Fees & Charges” in this Manual will be imposed every month if the balance in the account falls below the required minimum during any day of a calendar month. If the balance is less than the amount required to be deducted as a service charge, the available balance will be treated as service charges and the account may be closed forthwith, with notice to the customer at the last available address in our records. A checking account for a Non US resident consumer or business/association will be opened at the sole discretion of the Bank and as per its policy, either on the same terms and conditions as for U.S.-resident customers or on separate terms and conditions. No overdraft is permitted under any circumstances in this account. Any check presented with insufficient funds will be dishonored. Service charges are listed in our “Schedule of Fees & Charges” in this Manual. Early closure fees will apply if you close your account within three months of opening. The Bank will provide a statement of account at monthly intervals. 4.1.1 Basic Checking Account In order to provide low cost banking services, we offer “basic banking” checking accounts to all consumers who fulfill the following requirements: • Residents of New York State. • The consumer is required to close all other transaction accounts with our Bank or any other banking institution and will be given a period of 60 days (from the date the basic banking account is opened) to do so. If other transaction account/s is/are not closed within 60 days, the said basic checking account shall be closed by the Bank. • Receive direct credit of a recurring payment such as Social Security, wages or pension payments. • Have limited monthly transactions. • Desire basic checking services. Salient Features of Basic Checking Accounts a. Minimum deposit to open the account: $25. b. Minimum monthly balance required to be maintained: No minimum balance. c. Monthly maintenance fee: i) Nil, if the daily balance is $500 or more. ii) Otherwise $3 per month.
Notice Regarding Money Market Deposit Accounts: If the Account is a Money Market Deposit Account, certain limitations on transactions apply. A maximum of 6 transfers or withdrawals, or a combination of such transfers or withdrawals, are permitted during a calendar month or statement cycle of at least four weeks, including transfers or withdrawal by check, ACH to third parties, and/or Debit Card transactions with Merchant Establishments. However, any number of the following transactions using the Debit Card at an ATM are permitted: cash withdrawals; transfers of funds between your own Accounts held with the Bank; and balance inquiries.
e. Withdrawals: When writing checks on your Checking or Money Market Deposit Account, please ensure that:  The amount is stated in US dollars;  The amount is within the available balance in your account. The available balance in your account may be affected because of other transactions, including debit card transactions. Checks which exceed the available balance in your account may be returned unpaid and are subject to a charge as indicated in “Schedule of Fees & Charges”. The Bank reserves the right to pay a stale check, i.e., a check more than 6 months old. A request for a withdrawal or transfer may not be honored in circumstances such as, but not limited to, these:  If the Bank has instructions to the contrary from a joint account holder. In such cases the signatures of all account holders would be required on any authorization.  If a court order/legal process prohibits the Bank from doing so.  If the Bank suspects fraud or violation, including money laundering.  If there is a dispute to the Bank’s knowledge.  If the account is pledged as collateral and has been set-off against overdue debts.  If the account is seized by State /Federal agency.  If the payee is not properly identified to us.  If the withdrawal/transfer exceeds the permissible number (e.g., more than 6 checks per statement period in Money Market Deposit Accounts).
3.5 Limited Liability Company (“LLC”) The following documents are required:  The LLC’s organizational documents (Articles of Organization and Operating Agreement)  The names of all the members and managers of the LLC shall be provided with all the same identification as required for corporations above.  A certified copy of a resolution of the Managers of the LLC providing all the same information required in the corporate resolution set forth above.  Certificate of Beneficial owners, wherever applicable. 4. TYPES OF ACCOUNTS Three types of deposit accounts may be opened:  Checking Account  Money Market Deposit (MMD) Account  Certificate of Deposit (CD) Account 4.1 Checking Account This is a non-interest bearing account with no restrictions on the number of withdrawals or credits. However, Bank has the discretion to pay interest on a product variant. The minimum deposit required for opening an account is the minimum daily balance requirement for the account which is tabled below. The daily minimum balance required to be maintained to avoid monthly service charges are as follows:
c. Deposits: You can make deposits: • By check in person, during regular banking hours at the teller counter at the Bank. (Our regular banking hours are 9 AM - 4 PM ET Monday through Friday. Cash services are available only up to 3 PM ET) • By check in mail • By wire transfer • By pre-authorized credit such as for Social Security benefits • By cash in person, at our discretion Cash deposits may be subject to the Bank Secrecy Act reporting provisions. You may be asked to show a valid state id for cash deposit. There are no restrictions on the number of deposits in both Checking and Money Market Deposit Accounts. Funds will be made available in Checking Accounts as described in section 8 “Funds Availability.” The Bank maintains the right, for any reason or for no reason, to refuse to accept a deposit, or return in full or in part any deposit. Note - Check received in mail on any given day will be processed only on next business day. d. The Bank as Collecting Agent: The Bank accepts items for deposit or collection, as your collecting agent, subject to the following conditions:  All items will be credited subject to actual payment.  If payment is not received and the instrument is returned unpaid, the Bank shall have the right to charge back the item to your account. A service charge will also be levied for checks returned unpaid.
State Bank of India New York Customer Manual for Deposits 45 B. Service Fees & Charges Consumer Accounts Accounts of Business/ Associations Excess Transaction charges – Each transaction in Money Market Accounts in excess of 6 transfers or withdrawals or a combination of these in a statement period. $5 $5 Checks returned or paid against insufficient or unavailable funds # $10 $15 SCHEDULE OF FEES & CHARGES Minimum Balance Requirements & Service Charges Checking Account Money Market Account Consumer A/C Business/Associations Consumer A/c Business/Associations USA Resident Minimum daily balance 1,000 $ 20,000 $2,500 $ 50,000 Monthly service charge (if the balance falls below minimum on any day of the month) $15* (effective 01/01/2020) $ 50 $20* (effective 01/01/2020) $ 50 Non-USA Resident Minimum daily balance Opened at the sole discretion of the Bank and as per its Policy. Minimum balance is $10,000 Opened at the sole discretion of the Bank and as per its Policy. Minimum balance is $ 50,000 Opened at the sole discretion of the Bank and as per its Policy. Minimum balance is $ 25,000 Opened at the sole discretion of the Bank and as per its Policy. Minimum balance is $ 100,000 Monthly service charge (if the balance falls below minimum on any day of the month) $20* (effective 01/01/2020) $50 $25* (effective 01/01/2020) $50 Note : Consumer accounts = Accounts of natural persons
m. Change of Address, e-mail address, telephone number and account details: Please update us promptly of any change of address, e-mail address, telephone number or account details and include a complete list of all your accounts and account numbers. Please use Customer Information Update Form (CIP Form) available on our website for update of any information and submit the same along with copy of valid Photo ID and Address proof. Bank reserves the right to ask for additional documents on a case to case basis. If you do not inform us of the changes, mailing of account statements may be withheld and the accounts may be blocked for further transactions until we hear from you. Bank may ask you to update your account information through remediation form as and when there is any material change, or whenever bank requires. If this information is not provided within a reasonable time (30 days), the Bank may decide to decline further transactions in the account and may also close the account if not received the same in subsequent 60 days. For proof of the new address, a utility bill, State issued ID with current address, or Letter issued by Government Authority to the current address to give effect to your change of address request may be provided. All requests for Change of Address, e-mail address, telephone number and account details should be submitted along with a copy of valid ID document. Bank may also call you on your registered number for confirming the details given on the request. If your signed request for email/phone number change is received through modes other than online banking and over the counter, there will be a 30 day debit restriction on your account. n. Closing an Account: You may close your Checking /Money Market Deposit Account at any time provided the funds on deposit are not held against uncollected deposited checks or attached by any legal action. A service charge would apply to Checking/Money Market Deposit Accounts closed within three months of opening. If a hold is placed on your account because of a pre-approved merchant transaction done using your debit card, the Bank may not close the account until the transaction is completed or the hold is removed.
State Bank of India New York Customer Manual for Deposits 11 age or older. For every additional withdrawal or check beyond above mentioned number in a statement cycle, $5 will be recovered e. Restriction on the number of credits/deposits: No restriction. f. Availability of account statement and frequency of monthly statement: Account statements at monthly intervals will be provided. 4.2 Money Market Deposit (MMD) Account This is an interest-bearing account from which withdrawals can be made in accordance with certain prescribed restrictions. Tiered interest rate is available on money market accounts based on the balances available in the account. The minimum deposit required for opening an account is the minimum daily balance requirement for the account which is tabled below. The daily minimum balances required to be maintained to avoid monthly service charges are as follows: Consumer Account Business/ Associations US Resident Customer $2,500 $50,000 Non-US Resident Customer $25,000 $ 100,000 A minimum balance service charge as listed in our “Schedule of Fees & Charges” in this Manual will be imposed every month if the balance in the account falls below the required minimum during any day of a calendar month. If the balance is less than the amount required to be deducted as service charge, the so available balance will be treated as service charges and the account may be closed forthwith, with notice to the customer at the last available address in our records. No overdraft is permitted under any circumstances in this account. Any check presented with insufficient funds will be dishonored. Service charges are listed in our “Schedule of Fees & Charges” in this Manual. A Money Market Deposit Account for Non-US Resident consumer or business/association would be opened at the sole discretion of the Bank and as per its policy, either on the same terms and conditions as for U.S- resident customers or on mutually agreed terms and conditions. Monthly service charges are listed in our “Schedule of Fees & Charges” in this Manual. Early closure fees will apply if you close your account within three months of opening. Other Features of Money Market Deposit Accounts a. Interest Rate: Tiered interest rate is available on MMD accounts based on the balances available in account. Interest rate on these accounts may vary from time to time. The Bank reserves the right to change the rate at any time. There is no limitation as to the percentage amount the interest rate may vary. You may visit our website https://sbinewyork.statebank or call (212) 521-3200 for information on the current rate of interest. b. Payment of Interest: Interest will accrue on your day-end balance. Interest earned during the month will be credited to the account at the close of business on the last business day of the month and will be made available to you on the first business day of the following month. There is no minimum balance required to earn the stated annual percentage yield. For non-cash deposits made into your account (for example checks) interest begins to accrue no later than the business day we receive credit for the deposit of the non-cash items. If the account is closed during the middle of a
d. Interest Payment Method: When opening the CD, you may opt to receive the periodic interest payments by any one of the following: • Through ACH/Wire transfer to your designated bank account • By an official check through regular mail • In your Checking or Money Market Deposit Account with us. If you opt to receive compounded interest (cumulative), we will pay you interest along with the principal at the time of maturity of the CD. e. Minimum Balance Requirement: The minimum amount required for each CD may vary for US resident depositors and those based outside the USA. It may also vary for consumer and accounts of businesses. Currently, the following are the minimum balances:
• Annual Percentage Yield Earned (APYE): Relationship between the interest amounts actually paid to the customer’s account during the period and the average daily balance in the account for that period. • Tiered interest rate: Accounts in which interest rate is based on the balances in account. Each tier corresponds to a range of account balances and interest rates earned by the customer if his or her balance falls within that range.  Attached/Attachment: An account blocked by a Court Order. • Available Balance: The funds available for withdrawal by the account holder. • Business Day: Any working day of the week; does not include Saturdays, Sundays and Federal holidays.
State Bank of India New York Customer Manual for Deposits 12 month, accrued interest will be credited and paid. Accrued interest will be credited to your account prior to closing the same. c. Compounding Method: Your Money Market Deposit Account earn simple interest on a 360 days’ basis which accrues daily based on the end-of-the-day balance. The daily balance method will be used to calculate the interest on the account. This method applies a daily periodic rate to the principal in the account each day. Although interest accrues daily, you may not withdraw the earnings until the first business day of the following calendar month, when the same is credited into the account, provided the account is not closed. If not withdrawn, interest is added to and becomes part of the account balance. Since interest is added to your total account balance, any credited interest in the account is, effectively, compounded monthly. d. Annual Percentage Yield: The annual percentage yield earned (APYE) for the statement period will be advised with each monthly statement account. e. Withdrawals: A maximum of 6 transfers or withdrawals, or a combination of such transfers or withdrawals, are permitted during a calendar month or statement cycle of at least four weeks. For the purpose of this limit, preauthorized, automatic transfers (including but not limited to transfer from savings deposit for overdraft protection or for direct bill payments) and transfers and withdrawals initiated by telephone, facsimile, or computer and transfers made by check, debit card or other similar order made by the depositor and payable to third parties is included.

Test Case

Question: What is the minimum amount required for opening a Checking Account?

Metric Baseline Score Current Score
answer_accuracy 0.84547842 0.85938293 (+0.01390451)
groundedness 0.90062286 0.91327180 (+0.01264894)
mean_answer_similarity 0.86908097 0.87570930 (+0.00662833)
mean_reciprocal_rank 1.00000000 1.00000000
min_answer_similarity 0.84547842 0.85938293 (+0.01390451)
model_failures 1.00000000 1.00000000
model_generation_failures 1.00000000 1.00000000
model_parse_failures 0.00000000 0.00000000
model_passes 0.00000000 0.00000000
model_retrieval_failures 0.00000000 0.00000000
precision_relevancy 0.85735243 0.85055276 (-0.00679967)
recall_relevancy 0.92686516 0.92686516
rouge_1 0.17964072 0.20645161 (+0.02681089)
rouge_2 0.07272727 0.07843137 (+0.00570410)
rouge_l 0.14371257 0.16774194 (+0.02402936)

Legend:

  • Metric : The evaluation metric name. Shown in bold red if the metric flipped between pass/fail status.
  • Baseline Score : The metric value for the baseline model. Shown in bold green if baseline won, red if lost.
  • Current Score : The metric value for the current model, followed by the delta from baseline in parentheses.
  • Delta Colors : Green = improvement, Orange = regression, Red = metric flipped to fail.
  • Winner Determination : For each metric, the winner is determined by comparing scores while considering the metric's directionality (higher is better vs. lower is better).
Baseline Result Current Result
Model claude-3-7-sonnet-20250219@h2ogpte claude-3-7-sonnet-20250219@h2ogpte
Question What is the minimum amount required for opening a Checking Account?
Expected answer The minimum deposit required for opening an account is the minimum daily balance requirement for the account.
Actual Answer According to the document, the minimum deposit required for opening a Checking Account varies based on the customer's residency status and account type: For US Resident customers: - Consumer Account: $1,000 - Business/Associations: $20,000 For Non-US Resident customers: - Consumer Account: $10,000 - Business/Associations: $50,000 There is also a Basic Checking Account option available specifically for New York State residents, which requires a minimum deposit of only $25 to open. This account is designed to provide low-cost banking services to consumers who meet certain requirements, including closing all other transaction accounts with the bank or any other banking institution within 60 days of opening the basic banking account. The document notes that a minimum balance service charge will be imposed every month if the balance falls below the required minimum during any day of a calendar month, as detailed in their "Schedule of Fees & Charges." According to the document, the minimum amount required for opening a Checking Account varies based on whether the customer is a US resident or non-US resident, and whether it's a consumer account or a business/association account: For US Residents: - Consumer Account: $1,000 - Business/Associations: $20,000 For Non-US Residents: - Consumer Account: $10,000 - Business/Associations: $50,000 There is also a Basic Checking Account option available specifically for New York State residents, which requires a minimum deposit of only $25 to open the account. These minimum amounts are also the daily minimum balances required to be maintained to avoid monthly service charges. If the balance falls below the required minimum during any day of a calendar month, a minimum balance service charge will be imposed as listed in the "Schedule of Fees & Charges."
Retrieved Context
IMPORTANT INFORMATION ABOUT PROCEDURES FOR OPENING A NEW ACCOUNT CIP and Beneficial Owners Notice: To help the government fight the funding of terrorism and money laundering activities, Federal law requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account, and the beneficial owners of legal entity customers. What this means for you: When you open an account, we will ask for your name, address, date of birth, employment details and other information that will allow us to identify you. We may also ask for your driver’s license or other identifying documents. We may also use the services of third party service providers to verify your identity based on information provided by you. Effective May 11, 2018, new rules under the Bank Secrecy Act will aid the government in the fight against crimes to evade financial measures designed to combat terrorism and other national security threats. Each time an account is opened for a covered Legal Entity, we are required to ask you for identifying information (name, address, date of birth, social security number as well as identification documents) for:  Each individual that has beneficial ownership (25% or more); and,  One individual that has significant managerial control, of the Legal Entity.
3.5 Limited Liability Company (“LLC”) The following documents are required:  The LLC’s organizational documents (Articles of Organization and Operating Agreement)  The names of all the members and managers of the LLC shall be provided with all the same identification as required for corporations above.  A certified copy of a resolution of the Managers of the LLC providing all the same information required in the corporate resolution set forth above.  Certificate of Beneficial owners, wherever applicable. 4. TYPES OF ACCOUNTS Three types of deposit accounts may be opened:  Checking Account  Money Market Deposit (MMD) Account  Certificate of Deposit (CD) Account 4.1 Checking Account This is a non-interest bearing account with no restrictions on the number of withdrawals or credits. However, Bank has the discretion to pay interest on a product variant. The minimum deposit required for opening an account is the minimum daily balance requirement for the account which is tabled below. The daily minimum balance required to be maintained to avoid monthly service charges are as follows:
e. Withdrawals: When writing checks on your Checking or Money Market Deposit Account, please ensure that:  The amount is stated in US dollars;  The amount is within the available balance in your account. The available balance in your account may be affected because of other transactions, including debit card transactions. Checks which exceed the available balance in your account may be returned unpaid and are subject to a charge as indicated in “Schedule of Fees & Charges”. The Bank reserves the right to pay a stale check, i.e., a check more than 6 months old. A request for a withdrawal or transfer may not be honored in circumstances such as, but not limited to, these:  If the Bank has instructions to the contrary from a joint account holder. In such cases the signatures of all account holders would be required on any authorization.  If a court order/legal process prohibits the Bank from doing so.  If the Bank suspects fraud or violation, including money laundering.  If there is a dispute to the Bank’s knowledge.  If the account is pledged as collateral and has been set-off against overdue debts.  If the account is seized by State /Federal agency.  If the payee is not properly identified to us.  If the withdrawal/transfer exceeds the permissible number (e.g., more than 6 checks per statement period in Money Market Deposit Accounts).
d. Interest Payment Method: When opening the CD, you may opt to receive the periodic interest payments by any one of the following: • Through ACH/Wire transfer to your designated bank account • By an official check through regular mail • In your Checking or Money Market Deposit Account with us. If you opt to receive compounded interest (cumulative), we will pay you interest along with the principal at the time of maturity of the CD. e. Minimum Balance Requirement: The minimum amount required for each CD may vary for US resident depositors and those based outside the USA. It may also vary for consumer and accounts of businesses. Currently, the following are the minimum balances:
m. Change of Address, e-mail address, telephone number and account details: Please update us promptly of any change of address, e-mail address, telephone number or account details and include a complete list of all your accounts and account numbers. Please use Customer Information Update Form (CIP Form) available on our website for update of any information and submit the same along with copy of valid Photo ID and Address proof. Bank reserves the right to ask for additional documents on a case to case basis. If you do not inform us of the changes, mailing of account statements may be withheld and the accounts may be blocked for further transactions until we hear from you. Bank may ask you to update your account information through remediation form as and when there is any material change, or whenever bank requires. If this information is not provided within a reasonable time (30 days), the Bank may decide to decline further transactions in the account and may also close the account if not received the same in subsequent 60 days. For proof of the new address, a utility bill, State issued ID with current address, or Letter issued by Government Authority to the current address to give effect to your change of address request may be provided. All requests for Change of Address, e-mail address, telephone number and account details should be submitted along with a copy of valid ID document. Bank may also call you on your registered number for confirming the details given on the request. If your signed request for email/phone number change is received through modes other than online banking and over the counter, there will be a 30 day debit restriction on your account. n. Closing an Account: You may close your Checking /Money Market Deposit Account at any time provided the funds on deposit are not held against uncollected deposited checks or attached by any legal action. A service charge would apply to Checking/Money Market Deposit Accounts closed within three months of opening. If a hold is placed on your account because of a pre-approved merchant transaction done using your debit card, the Bank may not close the account until the transaction is completed or the hold is removed.
State Bank of India New York Customer Manual for Deposits 10 Consumer Account Business/ Associations US Resident $1,000 $20,000 Non- US Resident $10,000 $50,000 A minimum balance service charge as listed in our “Schedule of Fees & Charges” in this Manual will be imposed every month if the balance in the account falls below the required minimum during any day of a calendar month. If the balance is less than the amount required to be deducted as a service charge, the available balance will be treated as service charges and the account may be closed forthwith, with notice to the customer at the last available address in our records. A checking account for a Non US resident consumer or business/association will be opened at the sole discretion of the Bank and as per its policy, either on the same terms and conditions as for U.S.-resident customers or on separate terms and conditions. No overdraft is permitted under any circumstances in this account. Any check presented with insufficient funds will be dishonored. Service charges are listed in our “Schedule of Fees & Charges” in this Manual. Early closure fees will apply if you close your account within three months of opening. The Bank will provide a statement of account at monthly intervals. 4.1.1 Basic Checking Account In order to provide low cost banking services, we offer “basic banking” checking accounts to all consumers who fulfill the following requirements: • Residents of New York State. • The consumer is required to close all other transaction accounts with our Bank or any other banking institution and will be given a period of 60 days (from the date the basic banking account is opened) to do so. If other transaction account/s is/are not closed within 60 days, the said basic checking account shall be closed by the Bank. • Receive direct credit of a recurring payment such as Social Security, wages or pension payments. • Have limited monthly transactions. • Desire basic checking services. Salient Features of Basic Checking Accounts a. Minimum deposit to open the account: $25. b. Minimum monthly balance required to be maintained: No minimum balance. c. Monthly maintenance fee: i) Nil, if the daily balance is $500 or more. ii) Otherwise $3 per month.
State Bank of India New York Customer Manual for Deposits 3 ANNEXURE A CUSTOMER MANUAL 2024: SCHEDULE OF CHANGES Page Previous Version Current Version 10 Basic Checking Account In order to provide low cost banking services, we offer “basic banking” checking accounts to all consumers who fulfill the following requirements: • Residents of New York State who do not maintain any transaction account with the Bank. Basic Checking Account In order to provide low cost banking services, we offer “basic banking” checking accounts to all consumers who fulfill the following requirements: •Residents of New York State. •The consumer is required to close all other transaction accounts with our Bank or any other banking institution and will be given a period of 60 days (from the date the basic banking account is opened) to do so. If other transaction account/s is/are not closed within 60 days, the said basic checking account shall be closed by the Bank. 21 Change of Address, e-mail address, telephone number and account details: Bank may ask you to update your account information through remediation form as and when there is any material change, or whenever bank requires. If this information is not provided within a reasonable time (30 days), the Bank may decide to decline further transactions in the account and may also close the account if not received the same in 60 days.
State Bank of India New York Customer Manual for Deposits 45 B. Service Fees & Charges Consumer Accounts Accounts of Business/ Associations Excess Transaction charges – Each transaction in Money Market Accounts in excess of 6 transfers or withdrawals or a combination of these in a statement period. $5 $5 Checks returned or paid against insufficient or unavailable funds # $10 $15 SCHEDULE OF FEES & CHARGES Minimum Balance Requirements & Service Charges Checking Account Money Market Account Consumer A/C Business/Associations Consumer A/c Business/Associations USA Resident Minimum daily balance 1,000 $ 20,000 $2,500 $ 50,000 Monthly service charge (if the balance falls below minimum on any day of the month) $15* (effective 01/01/2020) $ 50 $20* (effective 01/01/2020) $ 50 Non-USA Resident Minimum daily balance Opened at the sole discretion of the Bank and as per its Policy. Minimum balance is $10,000 Opened at the sole discretion of the Bank and as per its Policy. Minimum balance is $ 50,000 Opened at the sole discretion of the Bank and as per its Policy. Minimum balance is $ 25,000 Opened at the sole discretion of the Bank and as per its Policy. Minimum balance is $ 100,000 Monthly service charge (if the balance falls below minimum on any day of the month) $20* (effective 01/01/2020) $50 $25* (effective 01/01/2020) $50 Note : Consumer accounts = Accounts of natural persons
Information about you and your occupation or business activity is required so that we can understand and serve you better. For any type of account, we may need additional documentation either at the time of opening of account and / or at any time while the account is open. The Bank reserves the right to refuse to open an account and the submission of all required documents will not obligate the
• Principal: The exact sum of money deposited in an account or the amount of money borrowed. • Right of Set-Off: Right to adjust any overdue debt from any other account held singly or jointly with us. • Substitute Check: means a paper reproduction of an original check that contains an image of the front and back of the original check, bears a MICR line, and is suitable for automated processing in the same manner as the original check. 7 Privacy Notice: FACTS WHAT DOES STATE BANK OF INDIA (SBI-US) DO WITH YOUR PERSONAL INFORMATION? Why? Financial companies choose how they share your personal information. Federal law gives consumers the right to limit some but not all sharing. Federal law also requires us to tell you how we collect, share, and protect your personal information. Please read this notice carefully to understand what we do. What? The types of personal information we collect and share depend on the product or service you have with us. This information can include: Social Security number and income Account balances and payment history Assets and debt When you are no longer our customer, we continue to share your information as described in this notice.
Information about you and your occupation or business activity is required so that we can understand and serve you better. For any type of account, we may need additional documentation either at the time of opening of account and / or at any time while the account is open. The Bank reserves the right to refuse to open an account and the submission of all required documents will not obligate the
3.5 Limited Liability Company (“LLC”) The following documents are required:  The LLC’s organizational documents (Articles of Organization and Operating Agreement)  The names of all the members and managers of the LLC shall be provided with all the same identification as required for corporations above.  A certified copy of a resolution of the Managers of the LLC providing all the same information required in the corporate resolution set forth above.  Certificate of Beneficial owners, wherever applicable. 4. TYPES OF ACCOUNTS Three types of deposit accounts may be opened:  Checking Account  Money Market Deposit (MMD) Account  Certificate of Deposit (CD) Account 4.1 Checking Account This is a non-interest bearing account with no restrictions on the number of withdrawals or credits. However, Bank has the discretion to pay interest on a product variant. The minimum deposit required for opening an account is the minimum daily balance requirement for the account which is tabled below. The daily minimum balance required to be maintained to avoid monthly service charges are as follows:
IMPORTANT INFORMATION ABOUT PROCEDURES FOR OPENING A NEW ACCOUNT CIP and Beneficial Owners Notice: To help the government fight the funding of terrorism and money laundering activities, Federal law requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account, and the beneficial owners of legal entity customers. What this means for you: When you open an account, we will ask for your name, address, date of birth, employment details and other information that will allow us to identify you. We may also ask for your driver’s license or other identifying documents. We may also use the services of third party service providers to verify your identity based on information provided by you. Effective May 11, 2018, new rules under the Bank Secrecy Act will aid the government in the fight against crimes to evade financial measures designed to combat terrorism and other national security threats. Each time an account is opened for a covered Legal Entity, we are required to ask you for identifying information (name, address, date of birth, social security number as well as identification documents) for:  Each individual that has beneficial ownership (25% or more); and,  One individual that has significant managerial control, of the Legal Entity.
If you are opening an account on behalf of a Legal Entity, you will be required to provide the appropriate documentation and to certify that the information provided is true and accurate to the best of your knowledge.
m. Change of Address, e-mail address, telephone number and account details: Please update us promptly of any change of address, e-mail address, telephone number or account details and include a complete list of all your accounts and account numbers. Please use Customer Information Update Form (CIP Form) available on our website for update of any information and submit the same along with copy of valid Photo ID and Address proof. Bank reserves the right to ask for additional documents on a case to case basis. If you do not inform us of the changes, mailing of account statements may be withheld and the accounts may be blocked for further transactions until we hear from you. Bank may ask you to update your account information through remediation form as and when there is any material change, or whenever bank requires. If this information is not provided within a reasonable time (30 days), the Bank may decide to decline further transactions in the account and may also close the account if not received the same in subsequent 60 days. For proof of the new address, a utility bill, State issued ID with current address, or Letter issued by Government Authority to the current address to give effect to your change of address request may be provided. All requests for Change of Address, e-mail address, telephone number and account details should be submitted along with a copy of valid ID document. Bank may also call you on your registered number for confirming the details given on the request. If your signed request for email/phone number change is received through modes other than online banking and over the counter, there will be a 30 day debit restriction on your account. n. Closing an Account: You may close your Checking /Money Market Deposit Account at any time provided the funds on deposit are not held against uncollected deposited checks or attached by any legal action. A service charge would apply to Checking/Money Market Deposit Accounts closed within three months of opening. If a hold is placed on your account because of a pre-approved merchant transaction done using your debit card, the Bank may not close the account until the transaction is completed or the hold is removed.
State Bank of India New York Customer Manual for Deposits 10 Consumer Account Business/ Associations US Resident $1,000 $20,000 Non- US Resident $10,000 $50,000 A minimum balance service charge as listed in our “Schedule of Fees & Charges” in this Manual will be imposed every month if the balance in the account falls below the required minimum during any day of a calendar month. If the balance is less than the amount required to be deducted as a service charge, the available balance will be treated as service charges and the account may be closed forthwith, with notice to the customer at the last available address in our records. A checking account for a Non US resident consumer or business/association will be opened at the sole discretion of the Bank and as per its policy, either on the same terms and conditions as for U.S.-resident customers or on separate terms and conditions. No overdraft is permitted under any circumstances in this account. Any check presented with insufficient funds will be dishonored. Service charges are listed in our “Schedule of Fees & Charges” in this Manual. Early closure fees will apply if you close your account within three months of opening. The Bank will provide a statement of account at monthly intervals. 4.1.1 Basic Checking Account In order to provide low cost banking services, we offer “basic banking” checking accounts to all consumers who fulfill the following requirements: • Residents of New York State. • The consumer is required to close all other transaction accounts with our Bank or any other banking institution and will be given a period of 60 days (from the date the basic banking account is opened) to do so. If other transaction account/s is/are not closed within 60 days, the said basic checking account shall be closed by the Bank. • Receive direct credit of a recurring payment such as Social Security, wages or pension payments. • Have limited monthly transactions. • Desire basic checking services. Salient Features of Basic Checking Accounts a. Minimum deposit to open the account: $25. b. Minimum monthly balance required to be maintained: No minimum balance. c. Monthly maintenance fee: i) Nil, if the daily balance is $500 or more. ii) Otherwise $3 per month.
• Principal: The exact sum of money deposited in an account or the amount of money borrowed. • Right of Set-Off: Right to adjust any overdue debt from any other account held singly or jointly with us. • Substitute Check: means a paper reproduction of an original check that contains an image of the front and back of the original check, bears a MICR line, and is suitable for automated processing in the same manner as the original check. 7 Privacy Notice: FACTS WHAT DOES STATE BANK OF INDIA (SBI-US) DO WITH YOUR PERSONAL INFORMATION? Why? Financial companies choose how they share your personal information. Federal law gives consumers the right to limit some but not all sharing. Federal law also requires us to tell you how we collect, share, and protect your personal information. Please read this notice carefully to understand what we do. What? The types of personal information we collect and share depend on the product or service you have with us. This information can include: Social Security number and income Account balances and payment history Assets and debt When you are no longer our customer, we continue to share your information as described in this notice.
State Bank of India New York Customer Manual for Deposits 45 B. Service Fees & Charges Consumer Accounts Accounts of Business/ Associations Excess Transaction charges – Each transaction in Money Market Accounts in excess of 6 transfers or withdrawals or a combination of these in a statement period. $5 $5 Checks returned or paid against insufficient or unavailable funds # $10 $15 SCHEDULE OF FEES & CHARGES Minimum Balance Requirements & Service Charges Checking Account Money Market Account Consumer A/C Business/Associations Consumer A/c Business/Associations USA Resident Minimum daily balance 1,000 $ 20,000 $2,500 $ 50,000 Monthly service charge (if the balance falls below minimum on any day of the month) $15* (effective 01/01/2020) $ 50 $20* (effective 01/01/2020) $ 50 Non-USA Resident Minimum daily balance Opened at the sole discretion of the Bank and as per its Policy. Minimum balance is $10,000 Opened at the sole discretion of the Bank and as per its Policy. Minimum balance is $ 50,000 Opened at the sole discretion of the Bank and as per its Policy. Minimum balance is $ 25,000 Opened at the sole discretion of the Bank and as per its Policy. Minimum balance is $ 100,000 Monthly service charge (if the balance falls below minimum on any day of the month) $20* (effective 01/01/2020) $50 $25* (effective 01/01/2020) $50 Note : Consumer accounts = Accounts of natural persons
State Bank of India New York Customer Manual for Deposits 8 age of 18 years after which the minor should be given full authority to operate the account. 3. ACCOUNTS OF BUSINESSES 3.1 Corporate Accounts To establish a corporate account, the Bank requires among other information/documents the following:  A copy of the Certificate of Incorporation with proof of filing  Articles of Incorporation or Association.  Proof of Business Address.  Certificate of Beneficial owners, wherever applicable.  For a corporation registered / incorporated in India, Reserve Bank of India approval for opening the account, wherever applicable, is also required.  A copy of corporate resolution adopted by the Board of Directors of the corporation authorizing:  opening of the account and stating the person(s) who can do so;  Identification of the persons who can operate the account; and  Extent of powers vested in these official(s) including instructions regarding restrictions on operation (e.g., whether the account is to be operated singly or jointly and the extent to which each signatory could sign checks or other debit authority and/or apply for credits on behalf of the corporation).  Government issued photo identification of all of the authorized signatories, beneficial owners, controlling officials. If such signatories are US residents, SSN is also required.
e. Withdrawals: When writing checks on your Checking or Money Market Deposit Account, please ensure that:  The amount is stated in US dollars;  The amount is within the available balance in your account. The available balance in your account may be affected because of other transactions, including debit card transactions. Checks which exceed the available balance in your account may be returned unpaid and are subject to a charge as indicated in “Schedule of Fees & Charges”. The Bank reserves the right to pay a stale check, i.e., a check more than 6 months old. A request for a withdrawal or transfer may not be honored in circumstances such as, but not limited to, these:  If the Bank has instructions to the contrary from a joint account holder. In such cases the signatures of all account holders would be required on any authorization.  If a court order/legal process prohibits the Bank from doing so.  If the Bank suspects fraud or violation, including money laundering.  If there is a dispute to the Bank’s knowledge.  If the account is pledged as collateral and has been set-off against overdue debts.  If the account is seized by State /Federal agency.  If the payee is not properly identified to us.  If the withdrawal/transfer exceeds the permissible number (e.g., more than 6 checks per statement period in Money Market Deposit Accounts).

Test Case

Question: What is the monthly service charge for a Checking Account if the balance falls below the minimum on any day of the month for a Non-US Resident consumer?

Metric Baseline Score Current Score
answer_accuracy 0.00525394 0.00509338 (-0.00016056)
groundedness 0.95286489 0.89768966 (-0.05517522)
mean_answer_similarity 0.81301058 0.78886039 (-0.02415020)
mean_reciprocal_rank 1.00000000 1.00000000
min_answer_similarity 0.80635392 0.77036362 (-0.03599030)
model_failures 0.00000000 0.00000000
model_generation_failures 0.00000000 0.00000000
model_parse_failures 0.00000000 0.00000000
model_passes 1.00000000 1.00000000
model_retrieval_failures 0.00000000 0.00000000
precision_relevancy 0.87456409 0.88899332 (+0.01442923)
recall_relevancy 0.93369499 0.93369499
rouge_1 0.02000000 0.01980198 (-0.00019802)
rouge_2 0.00000000 0.00000000
rouge_l 0.02000000 0.01980198 (-0.00019802)

Legend:

  • Metric : The evaluation metric name. Shown in bold red if the metric flipped between pass/fail status.
  • Baseline Score : The metric value for the baseline model. Shown in bold green if baseline won, red if lost.
  • Current Score : The metric value for the current model, followed by the delta from baseline in parentheses.
  • Delta Colors : Green = improvement, Orange = regression, Red = metric flipped to fail.
  • Winner Determination : For each metric, the winner is determined by comparing scores while considering the metric's directionality (higher is better vs. lower is better).
Baseline Result Current Result
Model claude-3-7-sonnet-20250219@h2ogpte claude-3-7-sonnet-20250219@h2ogpte
Question What is the monthly service charge for a Checking Account if the balance falls below the minimum on any day of the month for a Non-US Resident consumer?
Expected answer $20
Actual Answer According to the document, the monthly service charge for a Checking Account if the balance falls below the minimum on any day of the month for a Non-US Resident consumer is $20 (effective 01/01/2020). This information is found on page 45 of the document in the "SCHEDULE OF FEES & CHARGES Minimum Balance Requirements & Service Charges" section, which shows that for Non-USA Resident Consumer Accounts, the minimum daily balance requirement is $10,000, and if the balance falls below this minimum on any day of the month, a monthly service charge of $20 will be imposed. According to the document, the monthly service charge for a Checking Account if the balance falls below the minimum on any day of the month for a Non-US Resident consumer is $20 (effective 01/01/2020). This information is found on page 45 of the "Customer Manual for Deposits" in the "SCHEDULE OF FEES & CHARGES Minimum Balance Requirements & Service Charges" section. The document also indicates that the minimum daily balance requirement for a Non-US Resident consumer checking account is $10,000, and these accounts are "Opened at the sole discretion of the Bank and as per its Policy."
Retrieved Context
3.5 Limited Liability Company (“LLC”) The following documents are required:  The LLC’s organizational documents (Articles of Organization and Operating Agreement)  The names of all the members and managers of the LLC shall be provided with all the same identification as required for corporations above.  A certified copy of a resolution of the Managers of the LLC providing all the same information required in the corporate resolution set forth above.  Certificate of Beneficial owners, wherever applicable. 4. TYPES OF ACCOUNTS Three types of deposit accounts may be opened:  Checking Account  Money Market Deposit (MMD) Account  Certificate of Deposit (CD) Account 4.1 Checking Account This is a non-interest bearing account with no restrictions on the number of withdrawals or credits. However, Bank has the discretion to pay interest on a product variant. The minimum deposit required for opening an account is the minimum daily balance requirement for the account which is tabled below. The daily minimum balance required to be maintained to avoid monthly service charges are as follows:
e. Withdrawals: When writing checks on your Checking or Money Market Deposit Account, please ensure that:  The amount is stated in US dollars;  The amount is within the available balance in your account. The available balance in your account may be affected because of other transactions, including debit card transactions. Checks which exceed the available balance in your account may be returned unpaid and are subject to a charge as indicated in “Schedule of Fees & Charges”. The Bank reserves the right to pay a stale check, i.e., a check more than 6 months old. A request for a withdrawal or transfer may not be honored in circumstances such as, but not limited to, these:  If the Bank has instructions to the contrary from a joint account holder. In such cases the signatures of all account holders would be required on any authorization.  If a court order/legal process prohibits the Bank from doing so.  If the Bank suspects fraud or violation, including money laundering.  If there is a dispute to the Bank’s knowledge.  If the account is pledged as collateral and has been set-off against overdue debts.  If the account is seized by State /Federal agency.  If the payee is not properly identified to us.  If the withdrawal/transfer exceeds the permissible number (e.g., more than 6 checks per statement period in Money Market Deposit Accounts).
b) The Bank shall be entitled to terminate the Card with immediate effect without notice and the Card shall be returned upon the occurrence of any of the following events: • Card Holder’s failure to comply with the terms and conditions herein. • The Card Holder’s default under an agreement or commitment entered into with the Bank. • The Card Holder becomes the subject of any bankruptcy, insolvency proceedings or proceedings of the similar nature. • Demise of the Cardholder. • Failure to maintain minimum required balance to cover transactions. s. Error Resolution: Disputes of ATM or Merchant Establishment Transactions appearing on the Card Holder’s Periodic Statement are subject to the Error Resolution Procedure as mentioned herein. Your rights to a refund or returned merchandise are generally the same as if you had paid by cash or check, and generally must be resolved with the merchant. You will get a monthly statement of your Checking/Money Market account, if the account is not inactive or dormant, which will contain the details of your Debit Card transactions. If you think your statement or receipt is wrong or if you need more information about a transaction listed on the statement, or if you feel that there are other errors or if you have questions about your debit card transactions, please follow the procedures listed here: a) Initial and annual error resolution In Case of Errors or Questions About Your Electronic Transfers telephone or write to us at the following address: State Bank of India Deposit Section 460 Park Avenue, New York, N.Y 10022 Tel: (212)521-3342/3318 as soon as you can, if you think your statement or receipt is wrong or if you need more information about a transfer listed on the statement or receipt. We must hear from you no later than 60 days after we sent the FIRST statement on which the problem or error appeared.
State Bank of India New York Customer Manual for Deposits 10 Consumer Account Business/ Associations US Resident $1,000 $20,000 Non- US Resident $10,000 $50,000 A minimum balance service charge as listed in our “Schedule of Fees & Charges” in this Manual will be imposed every month if the balance in the account falls below the required minimum during any day of a calendar month. If the balance is less than the amount required to be deducted as a service charge, the available balance will be treated as service charges and the account may be closed forthwith, with notice to the customer at the last available address in our records. A checking account for a Non US resident consumer or business/association will be opened at the sole discretion of the Bank and as per its policy, either on the same terms and conditions as for U.S.-resident customers or on separate terms and conditions. No overdraft is permitted under any circumstances in this account. Any check presented with insufficient funds will be dishonored. Service charges are listed in our “Schedule of Fees & Charges” in this Manual. Early closure fees will apply if you close your account within three months of opening. The Bank will provide a statement of account at monthly intervals. 4.1.1 Basic Checking Account In order to provide low cost banking services, we offer “basic banking” checking accounts to all consumers who fulfill the following requirements: • Residents of New York State. • The consumer is required to close all other transaction accounts with our Bank or any other banking institution and will be given a period of 60 days (from the date the basic banking account is opened) to do so. If other transaction account/s is/are not closed within 60 days, the said basic checking account shall be closed by the Bank. • Receive direct credit of a recurring payment such as Social Security, wages or pension payments. • Have limited monthly transactions. • Desire basic checking services. Salient Features of Basic Checking Accounts a. Minimum deposit to open the account: $25. b. Minimum monthly balance required to be maintained: No minimum balance. c. Monthly maintenance fee: i) Nil, if the daily balance is $500 or more. ii) Otherwise $3 per month.
c. Deposits: You can make deposits: • By check in person, during regular banking hours at the teller counter at the Bank. (Our regular banking hours are 9 AM - 4 PM ET Monday through Friday. Cash services are available only up to 3 PM ET) • By check in mail • By wire transfer • By pre-authorized credit such as for Social Security benefits • By cash in person, at our discretion Cash deposits may be subject to the Bank Secrecy Act reporting provisions. You may be asked to show a valid state id for cash deposit. There are no restrictions on the number of deposits in both Checking and Money Market Deposit Accounts. Funds will be made available in Checking Accounts as described in section 8 “Funds Availability.” The Bank maintains the right, for any reason or for no reason, to refuse to accept a deposit, or return in full or in part any deposit. Note - Check received in mail on any given day will be processed only on next business day. d. The Bank as Collecting Agent: The Bank accepts items for deposit or collection, as your collecting agent, subject to the following conditions:  All items will be credited subject to actual payment.  If payment is not received and the instrument is returned unpaid, the Bank shall have the right to charge back the item to your account. A service charge will also be levied for checks returned unpaid.
State Bank of India New York Customer Manual for Deposits 45 B. Service Fees & Charges Consumer Accounts Accounts of Business/ Associations Excess Transaction charges – Each transaction in Money Market Accounts in excess of 6 transfers or withdrawals or a combination of these in a statement period. $5 $5 Checks returned or paid against insufficient or unavailable funds # $10 $15 SCHEDULE OF FEES & CHARGES Minimum Balance Requirements & Service Charges Checking Account Money Market Account Consumer A/C Business/Associations Consumer A/c Business/Associations USA Resident Minimum daily balance 1,000 $ 20,000 $2,500 $ 50,000 Monthly service charge (if the balance falls below minimum on any day of the month) $15* (effective 01/01/2020) $ 50 $20* (effective 01/01/2020) $ 50 Non-USA Resident Minimum daily balance Opened at the sole discretion of the Bank and as per its Policy. Minimum balance is $10,000 Opened at the sole discretion of the Bank and as per its Policy. Minimum balance is $ 50,000 Opened at the sole discretion of the Bank and as per its Policy. Minimum balance is $ 25,000 Opened at the sole discretion of the Bank and as per its Policy. Minimum balance is $ 100,000 Monthly service charge (if the balance falls below minimum on any day of the month) $20* (effective 01/01/2020) $50 $25* (effective 01/01/2020) $50 Note : Consumer accounts = Accounts of natural persons
f) Non-Resident Aliens and non-US Corporations, who may not have either SSN or TIN, should periodically certify (once in three years) to us their foreign status on the relevant IRS Forms - W-8BEN, W-8ECI, W-8EXP, or other applicable forms, failing which their account/s may be subject to Back up Withholding Tax as applicable. Bank at its discretion may also close the account for non-certification. For more details regarding tax implications, and type/nature of applicable forms to be submitted to the Bank, you are advised to be guided by the official website of IRS https://www.irs.gov/ g) Documents for identification for Consumers: At least two current documents should be submitted, one of which must be one of the primary IDs listed below. At least one of your documents should have your current address. Primary Secondary State Driver’s License with photo Passport State ID Card with photo US Alien Registration Card with photo Pay Stub Bank Statement Utility Bill Income Tax Return W2 Income Statement US VISA Page (in Passport) Birth Certificate Social Security Card Insurance Card Student ID Card Property Tax Bill Letter issued by Government Authority to the current address
• Annual Percentage Yield Earned (APYE): Relationship between the interest amounts actually paid to the customer’s account during the period and the average daily balance in the account for that period. • Tiered interest rate: Accounts in which interest rate is based on the balances in account. Each tier corresponds to a range of account balances and interest rates earned by the customer if his or her balance falls within that range.  Attached/Attachment: An account blocked by a Court Order. • Available Balance: The funds available for withdrawal by the account holder. • Business Day: Any working day of the week; does not include Saturdays, Sundays and Federal holidays.
d. Interest Payment Method: When opening the CD, you may opt to receive the periodic interest payments by any one of the following: • Through ACH/Wire transfer to your designated bank account • By an official check through regular mail • In your Checking or Money Market Deposit Account with us. If you opt to receive compounded interest (cumulative), we will pay you interest along with the principal at the time of maturity of the CD. e. Minimum Balance Requirement: The minimum amount required for each CD may vary for US resident depositors and those based outside the USA. It may also vary for consumer and accounts of businesses. Currently, the following are the minimum balances:
State Bank of India New York Customer Manual for Deposits 20 If you apply for a duplicate official check or a refund within 180 days of the date of the check, the Bank would require you and the payee to jointly sign an affidavit of loss and indemnity, referred to as Indemnity Agreement. You may also be required to submit a Surety Bond for twice the amount of the instrument or to place sufficient funds as security with us. After 180 days, an affidavit of loss and indemnity alone may suffice. A fee (see “Schedule of Fees & Charges”) will be charged for each stop payment request. i. Your Records: Your cancelled check(s) or substitute check(s), copies of special withdrawal form(s) and acknowledgment(s) on deposit slip(s) are your records. Paid and cancelled checks or substitute checks will be mailed with the statement of accounts to U.S. based customers. The cancelled checks or substitute checks for non-U.S. based accounts will normally be retained by the Bank. j. Statement of Account: Both Checking and Money Market Deposit Accounts are statement accounts. For all active statement accounts (that is, accounts which are not inactive or dormant as explained in Section 5.2) at least once in a calendar month, we will send a statement showing all account activities during the previous statement period. This statement will indicate your balance on the statement date and will give you an itemized, date-wise listing of all credits, all paid checks/ transfers, transactions put through using the linked debit card, interest earned, and any maintenance and service charges levied. It will also indicate the annual percentage yield earned (APYE) in effect during the period, if the account is interest bearing. All statements will be mailed to the last address known to the Bank by regular mail. For additional statements and other modes of sending statements, charges will be extra. No periodic account statements will be sent on CD accounts. Statements of Account are not available online, however, you may view the transactions online through internet banking.
State Bank of India New York Customer Manual for Deposits 45 B. Service Fees & Charges Consumer Accounts Accounts of Business/ Associations Excess Transaction charges – Each transaction in Money Market Accounts in excess of 6 transfers or withdrawals or a combination of these in a statement period. $5 $5 Checks returned or paid against insufficient or unavailable funds # $10 $15 SCHEDULE OF FEES & CHARGES Minimum Balance Requirements & Service Charges Checking Account Money Market Account Consumer A/C Business/Associations Consumer A/c Business/Associations USA Resident Minimum daily balance 1,000 $ 20,000 $2,500 $ 50,000 Monthly service charge (if the balance falls below minimum on any day of the month) $15* (effective 01/01/2020) $ 50 $20* (effective 01/01/2020) $ 50 Non-USA Resident Minimum daily balance Opened at the sole discretion of the Bank and as per its Policy. Minimum balance is $10,000 Opened at the sole discretion of the Bank and as per its Policy. Minimum balance is $ 50,000 Opened at the sole discretion of the Bank and as per its Policy. Minimum balance is $ 25,000 Opened at the sole discretion of the Bank and as per its Policy. Minimum balance is $ 100,000 Monthly service charge (if the balance falls below minimum on any day of the month) $20* (effective 01/01/2020) $50 $25* (effective 01/01/2020) $50 Note : Consumer accounts = Accounts of natural persons
3.5 Limited Liability Company (“LLC”) The following documents are required:  The LLC’s organizational documents (Articles of Organization and Operating Agreement)  The names of all the members and managers of the LLC shall be provided with all the same identification as required for corporations above.  A certified copy of a resolution of the Managers of the LLC providing all the same information required in the corporate resolution set forth above.  Certificate of Beneficial owners, wherever applicable. 4. TYPES OF ACCOUNTS Three types of deposit accounts may be opened:  Checking Account  Money Market Deposit (MMD) Account  Certificate of Deposit (CD) Account 4.1 Checking Account This is a non-interest bearing account with no restrictions on the number of withdrawals or credits. However, Bank has the discretion to pay interest on a product variant. The minimum deposit required for opening an account is the minimum daily balance requirement for the account which is tabled below. The daily minimum balance required to be maintained to avoid monthly service charges are as follows:
State Bank of India New York Customer Manual for Deposits 10 Consumer Account Business/ Associations US Resident $1,000 $20,000 Non- US Resident $10,000 $50,000 A minimum balance service charge as listed in our “Schedule of Fees & Charges” in this Manual will be imposed every month if the balance in the account falls below the required minimum during any day of a calendar month. If the balance is less than the amount required to be deducted as a service charge, the available balance will be treated as service charges and the account may be closed forthwith, with notice to the customer at the last available address in our records. A checking account for a Non US resident consumer or business/association will be opened at the sole discretion of the Bank and as per its policy, either on the same terms and conditions as for U.S.-resident customers or on separate terms and conditions. No overdraft is permitted under any circumstances in this account. Any check presented with insufficient funds will be dishonored. Service charges are listed in our “Schedule of Fees & Charges” in this Manual. Early closure fees will apply if you close your account within three months of opening. The Bank will provide a statement of account at monthly intervals. 4.1.1 Basic Checking Account In order to provide low cost banking services, we offer “basic banking” checking accounts to all consumers who fulfill the following requirements: • Residents of New York State. • The consumer is required to close all other transaction accounts with our Bank or any other banking institution and will be given a period of 60 days (from the date the basic banking account is opened) to do so. If other transaction account/s is/are not closed within 60 days, the said basic checking account shall be closed by the Bank. • Receive direct credit of a recurring payment such as Social Security, wages or pension payments. • Have limited monthly transactions. • Desire basic checking services. Salient Features of Basic Checking Accounts a. Minimum deposit to open the account: $25. b. Minimum monthly balance required to be maintained: No minimum balance. c. Monthly maintenance fee: i) Nil, if the daily balance is $500 or more. ii) Otherwise $3 per month.
e. Withdrawals: When writing checks on your Checking or Money Market Deposit Account, please ensure that:  The amount is stated in US dollars;  The amount is within the available balance in your account. The available balance in your account may be affected because of other transactions, including debit card transactions. Checks which exceed the available balance in your account may be returned unpaid and are subject to a charge as indicated in “Schedule of Fees & Charges”. The Bank reserves the right to pay a stale check, i.e., a check more than 6 months old. A request for a withdrawal or transfer may not be honored in circumstances such as, but not limited to, these:  If the Bank has instructions to the contrary from a joint account holder. In such cases the signatures of all account holders would be required on any authorization.  If a court order/legal process prohibits the Bank from doing so.  If the Bank suspects fraud or violation, including money laundering.  If there is a dispute to the Bank’s knowledge.  If the account is pledged as collateral and has been set-off against overdue debts.  If the account is seized by State /Federal agency.  If the payee is not properly identified to us.  If the withdrawal/transfer exceeds the permissible number (e.g., more than 6 checks per statement period in Money Market Deposit Accounts).
State Bank of India New York Customer Manual for Deposits 11 age or older. For every additional withdrawal or check beyond above mentioned number in a statement cycle, $5 will be recovered e. Restriction on the number of credits/deposits: No restriction. f. Availability of account statement and frequency of monthly statement: Account statements at monthly intervals will be provided. 4.2 Money Market Deposit (MMD) Account This is an interest-bearing account from which withdrawals can be made in accordance with certain prescribed restrictions. Tiered interest rate is available on money market accounts based on the balances available in the account. The minimum deposit required for opening an account is the minimum daily balance requirement for the account which is tabled below. The daily minimum balances required to be maintained to avoid monthly service charges are as follows: Consumer Account Business/ Associations US Resident Customer $2,500 $50,000 Non-US Resident Customer $25,000 $ 100,000 A minimum balance service charge as listed in our “Schedule of Fees & Charges” in this Manual will be imposed every month if the balance in the account falls below the required minimum during any day of a calendar month. If the balance is less than the amount required to be deducted as service charge, the so available balance will be treated as service charges and the account may be closed forthwith, with notice to the customer at the last available address in our records. No overdraft is permitted under any circumstances in this account. Any check presented with insufficient funds will be dishonored. Service charges are listed in our “Schedule of Fees & Charges” in this Manual. A Money Market Deposit Account for Non-US Resident consumer or business/association would be opened at the sole discretion of the Bank and as per its policy, either on the same terms and conditions as for U.S- resident customers or on mutually agreed terms and conditions. Monthly service charges are listed in our “Schedule of Fees & Charges” in this Manual. Early closure fees will apply if you close your account within three months of opening. Other Features of Money Market Deposit Accounts a. Interest Rate: Tiered interest rate is available on MMD accounts based on the balances available in account. Interest rate on these accounts may vary from time to time. The Bank reserves the right to change the rate at any time. There is no limitation as to the percentage amount the interest rate may vary. You may visit our website https://sbinewyork.statebank or call (212) 521-3200 for information on the current rate of interest. b. Payment of Interest: Interest will accrue on your day-end balance. Interest earned during the month will be credited to the account at the close of business on the last business day of the month and will be made available to you on the first business day of the following month. There is no minimum balance required to earn the stated annual percentage yield. For non-cash deposits made into your account (for example checks) interest begins to accrue no later than the business day we receive credit for the deposit of the non-cash items. If the account is closed during the middle of a
b) The Bank shall be entitled to terminate the Card with immediate effect without notice and the Card shall be returned upon the occurrence of any of the following events: • Card Holder’s failure to comply with the terms and conditions herein. • The Card Holder’s default under an agreement or commitment entered into with the Bank. • The Card Holder becomes the subject of any bankruptcy, insolvency proceedings or proceedings of the similar nature. • Demise of the Cardholder. • Failure to maintain minimum required balance to cover transactions. s. Error Resolution: Disputes of ATM or Merchant Establishment Transactions appearing on the Card Holder’s Periodic Statement are subject to the Error Resolution Procedure as mentioned herein. Your rights to a refund or returned merchandise are generally the same as if you had paid by cash or check, and generally must be resolved with the merchant. You will get a monthly statement of your Checking/Money Market account, if the account is not inactive or dormant, which will contain the details of your Debit Card transactions. If you think your statement or receipt is wrong or if you need more information about a transaction listed on the statement, or if you feel that there are other errors or if you have questions about your debit card transactions, please follow the procedures listed here: a) Initial and annual error resolution In Case of Errors or Questions About Your Electronic Transfers telephone or write to us at the following address: State Bank of India Deposit Section 460 Park Avenue, New York, N.Y 10022 Tel: (212)521-3342/3318 as soon as you can, if you think your statement or receipt is wrong or if you need more information about a transfer listed on the statement or receipt. We must hear from you no later than 60 days after we sent the FIRST statement on which the problem or error appeared.
State Bank of India New York Customer Manual for Deposits 21 l. Charges: We reserve the right to charge your account in accordance with the “Schedule of Fees & Charges” in circumstances such as, but not limited to, the following: • If a check deposited by you has been returned unpaid. • If there are insufficient funds in your account to cover a check you have issued. • If you use a service that involves a fee or a charge, e.g., issue of official checks or recovery of charges by a bank through which a wire transfer has been sent. • If there is a monthly service charge due to non-maintenance of minimum balance. • If we are required to comply with any legal process in connection with your account. • If you desire stop payment of a check. • If a postdated check written by you has been returned unpaid. • If we confirm the balance in your account to a third party under your authorization. • If you desire us to furnish credit information related to your account. • If you desire copies of your records. • If you give us a standing instruction. The Bank will not be responsible if it refuses to pay a check you have issued if there are not enough funds in the account after we have deducted a service charge.
c. Deposits: You can make deposits: • By check in person, during regular banking hours at the teller counter at the Bank. (Our regular banking hours are 9 AM - 4 PM ET Monday through Friday. Cash services are available only up to 3 PM ET) • By check in mail • By wire transfer • By pre-authorized credit such as for Social Security benefits • By cash in person, at our discretion Cash deposits may be subject to the Bank Secrecy Act reporting provisions. You may be asked to show a valid state id for cash deposit. There are no restrictions on the number of deposits in both Checking and Money Market Deposit Accounts. Funds will be made available in Checking Accounts as described in section 8 “Funds Availability.” The Bank maintains the right, for any reason or for no reason, to refuse to accept a deposit, or return in full or in part any deposit. Note - Check received in mail on any given day will be processed only on next business day. d. The Bank as Collecting Agent: The Bank accepts items for deposit or collection, as your collecting agent, subject to the following conditions:  All items will be credited subject to actual payment.  If payment is not received and the instrument is returned unpaid, the Bank shall have the right to charge back the item to your account. A service charge will also be levied for checks returned unpaid.
State Bank of India New York Customer Manual for Deposits 3 ANNEXURE A CUSTOMER MANUAL 2024: SCHEDULE OF CHANGES Page Previous Version Current Version 10 Basic Checking Account In order to provide low cost banking services, we offer “basic banking” checking accounts to all consumers who fulfill the following requirements: • Residents of New York State who do not maintain any transaction account with the Bank. Basic Checking Account In order to provide low cost banking services, we offer “basic banking” checking accounts to all consumers who fulfill the following requirements: •Residents of New York State. •The consumer is required to close all other transaction accounts with our Bank or any other banking institution and will be given a period of 60 days (from the date the basic banking account is opened) to do so. If other transaction account/s is/are not closed within 60 days, the said basic checking account shall be closed by the Bank. 21 Change of Address, e-mail address, telephone number and account details: Bank may ask you to update your account information through remediation form as and when there is any material change, or whenever bank requires. If this information is not provided within a reasonable time (30 days), the Bank may decide to decline further transactions in the account and may also close the account if not received the same in 60 days.
d. Interest Payment Method: When opening the CD, you may opt to receive the periodic interest payments by any one of the following: • Through ACH/Wire transfer to your designated bank account • By an official check through regular mail • In your Checking or Money Market Deposit Account with us. If you opt to receive compounded interest (cumulative), we will pay you interest along with the principal at the time of maturity of the CD. e. Minimum Balance Requirement: The minimum amount required for each CD may vary for US resident depositors and those based outside the USA. It may also vary for consumer and accounts of businesses. Currently, the following are the minimum balances:

Test Case

Question: What is the charge for per item charge for copy of paid checks/deposited checks, withdrawals or tickets?

Metric Baseline Score Current Score
answer_accuracy 0.88302059 0.88255346 (-0.00046713)
groundedness 0.91460044 0.91382784 (-0.00077260)
mean_answer_similarity 0.88302059 0.88255346 (-0.00046713)
mean_reciprocal_rank 1.00000000 1.00000000
min_answer_similarity 0.88302059 0.88255346 (-0.00046713)
model_failures 0.00000000 0.00000000
model_generation_failures 0.00000000 0.00000000
model_parse_failures 0.00000000 0.00000000
model_passes 1.00000000 1.00000000
model_retrieval_failures 0.00000000 0.00000000
precision_relevancy 0.86356511 0.86879855 (+0.00523343)
recall_relevancy 0.90209758 0.90209758
rouge_1 0.38775510 0.38383838 (-0.00391672)
rouge_2 0.35416667 0.35051546 (-0.00365120)
rouge_l 0.32653061 0.32323232 (-0.00329829)

Legend:

  • Metric : The evaluation metric name. Shown in bold red if the metric flipped between pass/fail status.
  • Baseline Score : The metric value for the baseline model. Shown in bold green if baseline won, red if lost.
  • Current Score : The metric value for the current model, followed by the delta from baseline in parentheses.
  • Delta Colors : Green = improvement, Orange = regression, Red = metric flipped to fail.
  • Winner Determination : For each metric, the winner is determined by comparing scores while considering the metric's directionality (higher is better vs. lower is better).
Baseline Result Current Result
Model claude-3-7-sonnet-20250219@h2ogpte claude-3-7-sonnet-20250219@h2ogpte
Question What is the charge for per item charge for copy of paid checks/deposited checks, withdrawals or tickets?
Expected answer $5 for current calendar year, $10 for previous calendar year, $15 for other years (up to 5 previous years)
Actual Answer According to the document, the per item charge for copy of paid checks/deposited checks, withdrawals or tickets varies depending on when the transaction occurred: - For current calendar year: $5 - For previous calendar year: $10 - For other years (up to 5 previous years): $15 per preceding year beyond previous year This information is found in the "Schedule of Fees & Charges" section on page 46 of the document, and these charges apply to both consumer accounts and business/association accounts. According to the document, the per item charge for copy of paid checks/deposited checks, withdrawals or tickets varies depending on when the transaction occurred: - For current calendar year: $5 - For previous calendar year: $10 - For other years (up to 5 previous years): $15 per preceding year beyond previous year This information is found in the "Schedule of Fees & Charges" section on page 46 of the document, and these charges apply to both Consumer Accounts and Accounts of Business/Associations.
Retrieved Context
State Bank of India New York Customer Manual for Deposits 46 Deposited checks returned unpaid # $10 $10 Closing of Checking or Money Market account within 3 months of opening $25 $25 Listing of Stop Payment request valid for 6 months per check, per ACH debit or debit card preauthorized transfers stopped (maximum $50 at one time) $15 $15 Stop Check Request through YONO US Portal (Min. 1 leaf Max: 10 leaves within same range) $15 for one leaf $30 for 2 leaves $45 for 3 leaves $50 for 4-10 leaves Not Applicable Cancellation of Stop Payment request per check, ACH debit or debit card preauthorized transfers stopped $15 $15 Expedited Delivery of Debit Card Actual cost charged by the service provider -- Per item charge for copy of paid checks/deposited checks, withdrawals or tickets - For current calendar year - For previous calendar year - For other years (up to 5 previous years) *per preceding year beyond previous year $5 $10 $15 * $5 $10 $15 * Charges per page of account statements - For current calendar year - For previous calendar year - For all other years (up to 5 previous years) *per preceding year beyond previous year $5 $10 $15 * $5 $10 $15 * Transfer of funds from Checking to MMD or vice-versa (per transfer) / between two accounts Manual transfer Online transfer $5 Free $5 Free Credit reference $10 $10 Issue of local official checks/certified checks $10 $10 Cash handling charges (per thousand or part thereof after first $1000 deposit in a day) NIL for less than $1000 $2 $2
e. Withdrawals: When writing checks on your Checking or Money Market Deposit Account, please ensure that:  The amount is stated in US dollars;  The amount is within the available balance in your account. The available balance in your account may be affected because of other transactions, including debit card transactions. Checks which exceed the available balance in your account may be returned unpaid and are subject to a charge as indicated in “Schedule of Fees & Charges”. The Bank reserves the right to pay a stale check, i.e., a check more than 6 months old. A request for a withdrawal or transfer may not be honored in circumstances such as, but not limited to, these:  If the Bank has instructions to the contrary from a joint account holder. In such cases the signatures of all account holders would be required on any authorization.  If a court order/legal process prohibits the Bank from doing so.  If the Bank suspects fraud or violation, including money laundering.  If there is a dispute to the Bank’s knowledge.  If the account is pledged as collateral and has been set-off against overdue debts.  If the account is seized by State /Federal agency.  If the payee is not properly identified to us.  If the withdrawal/transfer exceeds the permissible number (e.g., more than 6 checks per statement period in Money Market Deposit Accounts).
State Bank of India New York Customer Manual for Deposits 45 B. Service Fees & Charges Consumer Accounts Accounts of Business/ Associations Excess Transaction charges – Each transaction in Money Market Accounts in excess of 6 transfers or withdrawals or a combination of these in a statement period. $5 $5 Checks returned or paid against insufficient or unavailable funds # $10 $15 SCHEDULE OF FEES & CHARGES Minimum Balance Requirements & Service Charges Checking Account Money Market Account Consumer A/C Business/Associations Consumer A/c Business/Associations USA Resident Minimum daily balance 1,000 $ 20,000 $2,500 $ 50,000 Monthly service charge (if the balance falls below minimum on any day of the month) $15* (effective 01/01/2020) $ 50 $20* (effective 01/01/2020) $ 50 Non-USA Resident Minimum daily balance Opened at the sole discretion of the Bank and as per its Policy. Minimum balance is $10,000 Opened at the sole discretion of the Bank and as per its Policy. Minimum balance is $ 50,000 Opened at the sole discretion of the Bank and as per its Policy. Minimum balance is $ 25,000 Opened at the sole discretion of the Bank and as per its Policy. Minimum balance is $ 100,000 Monthly service charge (if the balance falls below minimum on any day of the month) $20* (effective 01/01/2020) $50 $25* (effective 01/01/2020) $50 Note : Consumer accounts = Accounts of natural persons
State Bank of India New York Customer Manual for Deposits 10 Consumer Account Business/ Associations US Resident $1,000 $20,000 Non- US Resident $10,000 $50,000 A minimum balance service charge as listed in our “Schedule of Fees & Charges” in this Manual will be imposed every month if the balance in the account falls below the required minimum during any day of a calendar month. If the balance is less than the amount required to be deducted as a service charge, the available balance will be treated as service charges and the account may be closed forthwith, with notice to the customer at the last available address in our records. A checking account for a Non US resident consumer or business/association will be opened at the sole discretion of the Bank and as per its policy, either on the same terms and conditions as for U.S.-resident customers or on separate terms and conditions. No overdraft is permitted under any circumstances in this account. Any check presented with insufficient funds will be dishonored. Service charges are listed in our “Schedule of Fees & Charges” in this Manual. Early closure fees will apply if you close your account within three months of opening. The Bank will provide a statement of account at monthly intervals. 4.1.1 Basic Checking Account In order to provide low cost banking services, we offer “basic banking” checking accounts to all consumers who fulfill the following requirements: • Residents of New York State. • The consumer is required to close all other transaction accounts with our Bank or any other banking institution and will be given a period of 60 days (from the date the basic banking account is opened) to do so. If other transaction account/s is/are not closed within 60 days, the said basic checking account shall be closed by the Bank. • Receive direct credit of a recurring payment such as Social Security, wages or pension payments. • Have limited monthly transactions. • Desire basic checking services. Salient Features of Basic Checking Accounts a. Minimum deposit to open the account: $25. b. Minimum monthly balance required to be maintained: No minimum balance. c. Monthly maintenance fee: i) Nil, if the daily balance is $500 or more. ii) Otherwise $3 per month.
State Bank of India New York Customer Manual for Deposits 11 age or older. For every additional withdrawal or check beyond above mentioned number in a statement cycle, $5 will be recovered e. Restriction on the number of credits/deposits: No restriction. f. Availability of account statement and frequency of monthly statement: Account statements at monthly intervals will be provided. 4.2 Money Market Deposit (MMD) Account This is an interest-bearing account from which withdrawals can be made in accordance with certain prescribed restrictions. Tiered interest rate is available on money market accounts based on the balances available in the account. The minimum deposit required for opening an account is the minimum daily balance requirement for the account which is tabled below. The daily minimum balances required to be maintained to avoid monthly service charges are as follows: Consumer Account Business/ Associations US Resident Customer $2,500 $50,000 Non-US Resident Customer $25,000 $ 100,000 A minimum balance service charge as listed in our “Schedule of Fees & Charges” in this Manual will be imposed every month if the balance in the account falls below the required minimum during any day of a calendar month. If the balance is less than the amount required to be deducted as service charge, the so available balance will be treated as service charges and the account may be closed forthwith, with notice to the customer at the last available address in our records. No overdraft is permitted under any circumstances in this account. Any check presented with insufficient funds will be dishonored. Service charges are listed in our “Schedule of Fees & Charges” in this Manual. A Money Market Deposit Account for Non-US Resident consumer or business/association would be opened at the sole discretion of the Bank and as per its policy, either on the same terms and conditions as for U.S- resident customers or on mutually agreed terms and conditions. Monthly service charges are listed in our “Schedule of Fees & Charges” in this Manual. Early closure fees will apply if you close your account within three months of opening. Other Features of Money Market Deposit Accounts a. Interest Rate: Tiered interest rate is available on MMD accounts based on the balances available in account. Interest rate on these accounts may vary from time to time. The Bank reserves the right to change the rate at any time. There is no limitation as to the percentage amount the interest rate may vary. You may visit our website https://sbinewyork.statebank or call (212) 521-3200 for information on the current rate of interest. b. Payment of Interest: Interest will accrue on your day-end balance. Interest earned during the month will be credited to the account at the close of business on the last business day of the month and will be made available to you on the first business day of the following month. There is no minimum balance required to earn the stated annual percentage yield. For non-cash deposits made into your account (for example checks) interest begins to accrue no later than the business day we receive credit for the deposit of the non-cash items. If the account is closed during the middle of a
State Bank of India New York Customer Manual for Deposits 20 If you apply for a duplicate official check or a refund within 180 days of the date of the check, the Bank would require you and the payee to jointly sign an affidavit of loss and indemnity, referred to as Indemnity Agreement. You may also be required to submit a Surety Bond for twice the amount of the instrument or to place sufficient funds as security with us. After 180 days, an affidavit of loss and indemnity alone may suffice. A fee (see “Schedule of Fees & Charges”) will be charged for each stop payment request. i. Your Records: Your cancelled check(s) or substitute check(s), copies of special withdrawal form(s) and acknowledgment(s) on deposit slip(s) are your records. Paid and cancelled checks or substitute checks will be mailed with the statement of accounts to U.S. based customers. The cancelled checks or substitute checks for non-U.S. based accounts will normally be retained by the Bank. j. Statement of Account: Both Checking and Money Market Deposit Accounts are statement accounts. For all active statement accounts (that is, accounts which are not inactive or dormant as explained in Section 5.2) at least once in a calendar month, we will send a statement showing all account activities during the previous statement period. This statement will indicate your balance on the statement date and will give you an itemized, date-wise listing of all credits, all paid checks/ transfers, transactions put through using the linked debit card, interest earned, and any maintenance and service charges levied. It will also indicate the annual percentage yield earned (APYE) in effect during the period, if the account is interest bearing. All statements will be mailed to the last address known to the Bank by regular mail. For additional statements and other modes of sending statements, charges will be extra. No periodic account statements will be sent on CD accounts. Statements of Account are not available online, however, you may view the transactions online through internet banking.
c. Deposits: You can make deposits: • By check in person, during regular banking hours at the teller counter at the Bank. (Our regular banking hours are 9 AM - 4 PM ET Monday through Friday. Cash services are available only up to 3 PM ET) • By check in mail • By wire transfer • By pre-authorized credit such as for Social Security benefits • By cash in person, at our discretion Cash deposits may be subject to the Bank Secrecy Act reporting provisions. You may be asked to show a valid state id for cash deposit. There are no restrictions on the number of deposits in both Checking and Money Market Deposit Accounts. Funds will be made available in Checking Accounts as described in section 8 “Funds Availability.” The Bank maintains the right, for any reason or for no reason, to refuse to accept a deposit, or return in full or in part any deposit. Note - Check received in mail on any given day will be processed only on next business day. d. The Bank as Collecting Agent: The Bank accepts items for deposit or collection, as your collecting agent, subject to the following conditions:  All items will be credited subject to actual payment.  If payment is not received and the instrument is returned unpaid, the Bank shall have the right to charge back the item to your account. A service charge will also be levied for checks returned unpaid.
State Bank of India New York Customer Manual for Deposits 21 l. Charges: We reserve the right to charge your account in accordance with the “Schedule of Fees & Charges” in circumstances such as, but not limited to, the following: • If a check deposited by you has been returned unpaid. • If there are insufficient funds in your account to cover a check you have issued. • If you use a service that involves a fee or a charge, e.g., issue of official checks or recovery of charges by a bank through which a wire transfer has been sent. • If there is a monthly service charge due to non-maintenance of minimum balance. • If we are required to comply with any legal process in connection with your account. • If you desire stop payment of a check. • If a postdated check written by you has been returned unpaid. • If we confirm the balance in your account to a third party under your authorization. • If you desire us to furnish credit information related to your account. • If you desire copies of your records. • If you give us a standing instruction. The Bank will not be responsible if it refuses to pay a check you have issued if there are not enough funds in the account after we have deducted a service charge.
d. Number of withdrawals or checks cashed in a statement cycle: 8 at no charge for Customers under 65 years of age and 12 at no charge for Customers who are 65 years of
The following is indicative list of eligible non-limited transactions:  Deposits  ATM Cash withdrawals subject to daily amount limits and sufficient available funds in the account  Withdrawals made in person or by mail at State Bank of India New York  Transfers made in person at State Bank of India New York The following is indicative list of transactions subject to the limit of (SIX) transfers:  Checks, Point of Sale (POS) transactions or debit card purchases  Automatic transfers to another deposit account at SBI, New York  Automatic transfers to a third party or another institution  Telephonic transfers including those initiated by phone call, fax, email through a Bank's representative  Online banking transfers and bill payments Should more than 6 (six) transfers or withdrawals which are subject to the limit, be effected in a month in an MMDA account, an excess check writing fee of $5.00 per excess check or transfer will be levied. Further, if the customer continues to violate the prescribed limit repeatedly, we shall send a letter to the customer, notifying him/her of the violation and also of our policy for reclassifying the account as Checking Account. In case the customer is not agreeable for reclassification, the account will be closed. The Bank reserves the right to enforce this clause if prescribed limits are violated in three consecutive months. We also reserve the right to refuse any transaction(s) which exceed the permissible limit. We are required by law to reserve the right of 7 days’ advance notice before permitting a withdrawal. However, we do not currently exercise this right.
State Bank of India New York Customer Manual for Deposits 46 Deposited checks returned unpaid # $10 $10 Closing of Checking or Money Market account within 3 months of opening $25 $25 Listing of Stop Payment request valid for 6 months per check, per ACH debit or debit card preauthorized transfers stopped (maximum $50 at one time) $15 $15 Stop Check Request through YONO US Portal (Min. 1 leaf Max: 10 leaves within same range) $15 for one leaf $30 for 2 leaves $45 for 3 leaves $50 for 4-10 leaves Not Applicable Cancellation of Stop Payment request per check, ACH debit or debit card preauthorized transfers stopped $15 $15 Expedited Delivery of Debit Card Actual cost charged by the service provider -- Per item charge for copy of paid checks/deposited checks, withdrawals or tickets - For current calendar year - For previous calendar year - For other years (up to 5 previous years) *per preceding year beyond previous year $5 $10 $15 * $5 $10 $15 * Charges per page of account statements - For current calendar year - For previous calendar year - For all other years (up to 5 previous years) *per preceding year beyond previous year $5 $10 $15 * $5 $10 $15 * Transfer of funds from Checking to MMD or vice-versa (per transfer) / between two accounts Manual transfer Online transfer $5 Free $5 Free Credit reference $10 $10 Issue of local official checks/certified checks $10 $10 Cash handling charges (per thousand or part thereof after first $1000 deposit in a day) NIL for less than $1000 $2 $2
e. Withdrawals: When writing checks on your Checking or Money Market Deposit Account, please ensure that:  The amount is stated in US dollars;  The amount is within the available balance in your account. The available balance in your account may be affected because of other transactions, including debit card transactions. Checks which exceed the available balance in your account may be returned unpaid and are subject to a charge as indicated in “Schedule of Fees & Charges”. The Bank reserves the right to pay a stale check, i.e., a check more than 6 months old. A request for a withdrawal or transfer may not be honored in circumstances such as, but not limited to, these:  If the Bank has instructions to the contrary from a joint account holder. In such cases the signatures of all account holders would be required on any authorization.  If a court order/legal process prohibits the Bank from doing so.  If the Bank suspects fraud or violation, including money laundering.  If there is a dispute to the Bank’s knowledge.  If the account is pledged as collateral and has been set-off against overdue debts.  If the account is seized by State /Federal agency.  If the payee is not properly identified to us.  If the withdrawal/transfer exceeds the permissible number (e.g., more than 6 checks per statement period in Money Market Deposit Accounts).
State Bank of India New York Customer Manual for Deposits 20 If you apply for a duplicate official check or a refund within 180 days of the date of the check, the Bank would require you and the payee to jointly sign an affidavit of loss and indemnity, referred to as Indemnity Agreement. You may also be required to submit a Surety Bond for twice the amount of the instrument or to place sufficient funds as security with us. After 180 days, an affidavit of loss and indemnity alone may suffice. A fee (see “Schedule of Fees & Charges”) will be charged for each stop payment request. i. Your Records: Your cancelled check(s) or substitute check(s), copies of special withdrawal form(s) and acknowledgment(s) on deposit slip(s) are your records. Paid and cancelled checks or substitute checks will be mailed with the statement of accounts to U.S. based customers. The cancelled checks or substitute checks for non-U.S. based accounts will normally be retained by the Bank. j. Statement of Account: Both Checking and Money Market Deposit Accounts are statement accounts. For all active statement accounts (that is, accounts which are not inactive or dormant as explained in Section 5.2) at least once in a calendar month, we will send a statement showing all account activities during the previous statement period. This statement will indicate your balance on the statement date and will give you an itemized, date-wise listing of all credits, all paid checks/ transfers, transactions put through using the linked debit card, interest earned, and any maintenance and service charges levied. It will also indicate the annual percentage yield earned (APYE) in effect during the period, if the account is interest bearing. All statements will be mailed to the last address known to the Bank by regular mail. For additional statements and other modes of sending statements, charges will be extra. No periodic account statements will be sent on CD accounts. Statements of Account are not available online, however, you may view the transactions online through internet banking.
State Bank of India New York Customer Manual for Deposits 45 B. Service Fees & Charges Consumer Accounts Accounts of Business/ Associations Excess Transaction charges – Each transaction in Money Market Accounts in excess of 6 transfers or withdrawals or a combination of these in a statement period. $5 $5 Checks returned or paid against insufficient or unavailable funds # $10 $15 SCHEDULE OF FEES & CHARGES Minimum Balance Requirements & Service Charges Checking Account Money Market Account Consumer A/C Business/Associations Consumer A/c Business/Associations USA Resident Minimum daily balance 1,000 $ 20,000 $2,500 $ 50,000 Monthly service charge (if the balance falls below minimum on any day of the month) $15* (effective 01/01/2020) $ 50 $20* (effective 01/01/2020) $ 50 Non-USA Resident Minimum daily balance Opened at the sole discretion of the Bank and as per its Policy. Minimum balance is $10,000 Opened at the sole discretion of the Bank and as per its Policy. Minimum balance is $ 50,000 Opened at the sole discretion of the Bank and as per its Policy. Minimum balance is $ 25,000 Opened at the sole discretion of the Bank and as per its Policy. Minimum balance is $ 100,000 Monthly service charge (if the balance falls below minimum on any day of the month) $20* (effective 01/01/2020) $50 $25* (effective 01/01/2020) $50 Note : Consumer accounts = Accounts of natural persons
c. Deposits: You can make deposits: • By check in person, during regular banking hours at the teller counter at the Bank. (Our regular banking hours are 9 AM - 4 PM ET Monday through Friday. Cash services are available only up to 3 PM ET) • By check in mail • By wire transfer • By pre-authorized credit such as for Social Security benefits • By cash in person, at our discretion Cash deposits may be subject to the Bank Secrecy Act reporting provisions. You may be asked to show a valid state id for cash deposit. There are no restrictions on the number of deposits in both Checking and Money Market Deposit Accounts. Funds will be made available in Checking Accounts as described in section 8 “Funds Availability.” The Bank maintains the right, for any reason or for no reason, to refuse to accept a deposit, or return in full or in part any deposit. Note - Check received in mail on any given day will be processed only on next business day. d. The Bank as Collecting Agent: The Bank accepts items for deposit or collection, as your collecting agent, subject to the following conditions:  All items will be credited subject to actual payment.  If payment is not received and the instrument is returned unpaid, the Bank shall have the right to charge back the item to your account. A service charge will also be levied for checks returned unpaid.
State Bank of India New York Customer Manual for Deposits IRS, etc.) Printing and mailing of checks. First check book of up-to 50 leaves free thereafter the actual cost charged by the supplier Actual cost charged by the supplier Replacement/reimbursement fee for stop payments on official and certified checks $15 $15 Collection of checks, draft or other instruments drawn on banks outside the USA. $50 $50 Uncollected deposit items (checks/drafts negotiated through us which are drawn on other banks and are returned unpaid) $50 $50 Balance confirmation certificate $5 $5 For any other account information sought by the customer. Charges per instance per document: - For current calendar year - For previous calendar year - For all other years (up to 5 previous years) $ 5 $ 10 $ 15 $ 5 $ 10 $ 15 C. REMITTANCE FEES Rupee remittances Wire Transfer (Initiated through Online Banking) FREE* Rupee remittances –Wire Transfer (Other than Initiated through Online Banking) Up to US Dollar 999 or equivalent US Dollar 1000 or above $5 Free $5 Free Wire transfer in U.S. dollars to Any Bank $25 (For both Online on YONO and offline at Branch) $25 Wire transfer in currencies other than USD and INR For less than $2,500.00 $2,500.00 and above $35 Free $35 Free Cancellation of or issue of duplicate draft/refund of funds for lost draft. (In $25* $25*
State Bank of India New York Customer Manual for Deposits 21 l. Charges: We reserve the right to charge your account in accordance with the “Schedule of Fees & Charges” in circumstances such as, but not limited to, the following: • If a check deposited by you has been returned unpaid. • If there are insufficient funds in your account to cover a check you have issued. • If you use a service that involves a fee or a charge, e.g., issue of official checks or recovery of charges by a bank through which a wire transfer has been sent. • If there is a monthly service charge due to non-maintenance of minimum balance. • If we are required to comply with any legal process in connection with your account. • If you desire stop payment of a check. • If a postdated check written by you has been returned unpaid. • If we confirm the balance in your account to a third party under your authorization. • If you desire us to furnish credit information related to your account. • If you desire copies of your records. • If you give us a standing instruction. The Bank will not be responsible if it refuses to pay a check you have issued if there are not enough funds in the account after we have deducted a service charge.
State Bank of India New York Customer Manual for Deposits 17 Portal/In person at Bank/Mail. The cost of Checkbooks is listed in the “Schedule of Fees & Charges”. Generally, checks are paid in the order in which they are received. However, if the funds in the account are insufficient to pay all the checks presented, we shall endeavor to pay as many checks as possible, so that the least number of checks are required to be returned. b. Debit Card: You are eligible for a debit card provided you are a consumer and maintain at least one transaction account with us. A debit card will be issued to you on receipt of a written request from you and the satisfactory completion of the relevant documents. For more details on the service, please read the Debit Card agreement available on page 50. A copy of agreement is also available on our website https://sbinewyork.statebank . One debit card may be linked to your multiple transaction accounts maintained at State Bank of India, New York. Debits and withdrawals in your Money Market Deposit Account will be subject to the limitations described in paragraph 4.2 (e) of this document. The debit card can be used in India and USA only. Usage of cards in any other country for a temporary period may be permitted as per discretion of the Bank. We have recently introduced Debit Card alerts to our customers. We recommend you to opt for an email alert and/or a text alert by registering your details on the following link: https://alert.smsservicesnow.com/Landing/StateBank .
State Bank of India New York Customer Manual for Deposits 11 age or older. For every additional withdrawal or check beyond above mentioned number in a statement cycle, $5 will be recovered e. Restriction on the number of credits/deposits: No restriction. f. Availability of account statement and frequency of monthly statement: Account statements at monthly intervals will be provided. 4.2 Money Market Deposit (MMD) Account This is an interest-bearing account from which withdrawals can be made in accordance with certain prescribed restrictions. Tiered interest rate is available on money market accounts based on the balances available in the account. The minimum deposit required for opening an account is the minimum daily balance requirement for the account which is tabled below. The daily minimum balances required to be maintained to avoid monthly service charges are as follows: Consumer Account Business/ Associations US Resident Customer $2,500 $50,000 Non-US Resident Customer $25,000 $ 100,000 A minimum balance service charge as listed in our “Schedule of Fees & Charges” in this Manual will be imposed every month if the balance in the account falls below the required minimum during any day of a calendar month. If the balance is less than the amount required to be deducted as service charge, the so available balance will be treated as service charges and the account may be closed forthwith, with notice to the customer at the last available address in our records. No overdraft is permitted under any circumstances in this account. Any check presented with insufficient funds will be dishonored. Service charges are listed in our “Schedule of Fees & Charges” in this Manual. A Money Market Deposit Account for Non-US Resident consumer or business/association would be opened at the sole discretion of the Bank and as per its policy, either on the same terms and conditions as for U.S- resident customers or on mutually agreed terms and conditions. Monthly service charges are listed in our “Schedule of Fees & Charges” in this Manual. Early closure fees will apply if you close your account within three months of opening. Other Features of Money Market Deposit Accounts a. Interest Rate: Tiered interest rate is available on MMD accounts based on the balances available in account. Interest rate on these accounts may vary from time to time. The Bank reserves the right to change the rate at any time. There is no limitation as to the percentage amount the interest rate may vary. You may visit our website https://sbinewyork.statebank or call (212) 521-3200 for information on the current rate of interest. b. Payment of Interest: Interest will accrue on your day-end balance. Interest earned during the month will be credited to the account at the close of business on the last business day of the month and will be made available to you on the first business day of the following month. There is no minimum balance required to earn the stated annual percentage yield. For non-cash deposits made into your account (for example checks) interest begins to accrue no later than the business day we receive credit for the deposit of the non-cash items. If the account is closed during the middle of a
State Bank of India New York Customer Manual for Deposits 10 Consumer Account Business/ Associations US Resident $1,000 $20,000 Non- US Resident $10,000 $50,000 A minimum balance service charge as listed in our “Schedule of Fees & Charges” in this Manual will be imposed every month if the balance in the account falls below the required minimum during any day of a calendar month. If the balance is less than the amount required to be deducted as a service charge, the available balance will be treated as service charges and the account may be closed forthwith, with notice to the customer at the last available address in our records. A checking account for a Non US resident consumer or business/association will be opened at the sole discretion of the Bank and as per its policy, either on the same terms and conditions as for U.S.-resident customers or on separate terms and conditions. No overdraft is permitted under any circumstances in this account. Any check presented with insufficient funds will be dishonored. Service charges are listed in our “Schedule of Fees & Charges” in this Manual. Early closure fees will apply if you close your account within three months of opening. The Bank will provide a statement of account at monthly intervals. 4.1.1 Basic Checking Account In order to provide low cost banking services, we offer “basic banking” checking accounts to all consumers who fulfill the following requirements: • Residents of New York State. • The consumer is required to close all other transaction accounts with our Bank or any other banking institution and will be given a period of 60 days (from the date the basic banking account is opened) to do so. If other transaction account/s is/are not closed within 60 days, the said basic checking account shall be closed by the Bank. • Receive direct credit of a recurring payment such as Social Security, wages or pension payments. • Have limited monthly transactions. • Desire basic checking services. Salient Features of Basic Checking Accounts a. Minimum deposit to open the account: $25. b. Minimum monthly balance required to be maintained: No minimum balance. c. Monthly maintenance fee: i) Nil, if the daily balance is $500 or more. ii) Otherwise $3 per month.

Test Case

Question: What is the daily withdrawal limit at ATMs?

Metric Baseline Score Current Score
answer_accuracy 0.73607473 0.75023372 (+0.01415899)
groundedness 0.93810546 0.83497496 (-0.10313050)
mean_answer_similarity 0.81799340 0.80042478 (-0.01756861)
mean_reciprocal_rank 1.00000000 1.00000000
min_answer_similarity 0.73607473 0.75023372 (+0.01415899)
model_failures 0.00000000 0.00000000
model_generation_failures 0.00000000 0.00000000
model_parse_failures 0.00000000 0.00000000
model_passes 1.00000000 1.00000000
model_retrieval_failures 0.00000000 0.00000000
precision_relevancy 0.86820805 0.87660850 (+0.00840046)
recall_relevancy 0.91620464 0.91620464
rouge_1 0.08000000 0.08988764 (+0.00988764)
rouge_2 0.06122449 0.06896552 (+0.00774103)
rouge_l 0.08000000 0.08988764 (+0.00988764)

Legend:

  • Metric : The evaluation metric name. Shown in bold red if the metric flipped between pass/fail status.
  • Baseline Score : The metric value for the baseline model. Shown in bold green if baseline won, red if lost.
  • Current Score : The metric value for the current model, followed by the delta from baseline in parentheses.
  • Delta Colors : Green = improvement, Orange = regression, Red = metric flipped to fail.
  • Winner Determination : For each metric, the winner is determined by comparing scores while considering the metric's directionality (higher is better vs. lower is better).
Baseline Result Current Result
Model claude-3-7-sonnet-20250219@h2ogpte claude-3-7-sonnet-20250219@h2ogpte
Question What is the daily withdrawal limit at ATMs?
Expected answer $1000.00 per day
Actual Answer According to the document, the daily withdrawal limit at ATMs is $1,000.00 per day. This information appears in multiple sections of the State Bank of India New York Customer Manual for Deposits. Specifically, on page 36, it states "A Card Holder may withdraw up to $1000.00 per day at ATMs." This same limit is reiterated on page 50, which confirms "A Card Holder may withdraw up to $1000.00 per day at ATMs." The document also mentions that "The Bank reserves the right to lower this limit in case of a technical failure." According to the document, the daily withdrawal limit at ATMs for State Bank of India (SBI) cardholders is $1,000.00 per day. This information appears in multiple sections of the document, specifically on pages 36 and 50. The document states: "A Card Holder may withdraw up to $1000.00 per day at ATMs. The Bank reserves the right to lower this limit in case of a technical failure." This limit applies to debit card users of State Bank of India's New York branch.
Retrieved Context
State Bank of India New York Customer Manual for Deposits 50 but will be credited back to your Account by the Bank. A Card Holder may withdraw up to $1000.00 per day at ATMs. The Bank reserves the right to lower this limit in case of a technical failure. 9. Debit Card Use with Merchants: The Card is accepted at all electronic Point-of-Sale (POS) terminals at stores and vendors (Merchant Establishments) displaying MasterCard or STAR logos. The Card may be used to make purchases at a chip enabled electronic Point-of-Sale terminal, to pay bills directly by telephone, internet, or other means, or to make other such electronic transfers from an Account. a) Daily Use Limits: A Card Holder may use the Card to make purchases up to $2000.00 per day at Merchant Establishments or such other limits as the Bank may establish from time to time. The Bank may lower these limits in case of a technical failure. b) Debit-card clearing: Debit-card Transactions may clear the Account differently than checks and traditional ATM card transactions. Because these transactions clear differently, the Card Holder should take care to keep an accurate register and monitor the Account’s balance for pending transactions and cleared transactions in order to avoid unwanted fees and other items being returned.
State Bank of India New York Customer Manual for Deposits 12 month, accrued interest will be credited and paid. Accrued interest will be credited to your account prior to closing the same. c. Compounding Method: Your Money Market Deposit Account earn simple interest on a 360 days’ basis which accrues daily based on the end-of-the-day balance. The daily balance method will be used to calculate the interest on the account. This method applies a daily periodic rate to the principal in the account each day. Although interest accrues daily, you may not withdraw the earnings until the first business day of the following calendar month, when the same is credited into the account, provided the account is not closed. If not withdrawn, interest is added to and becomes part of the account balance. Since interest is added to your total account balance, any credited interest in the account is, effectively, compounded monthly. d. Annual Percentage Yield: The annual percentage yield earned (APYE) for the statement period will be advised with each monthly statement account. e. Withdrawals: A maximum of 6 transfers or withdrawals, or a combination of such transfers or withdrawals, are permitted during a calendar month or statement cycle of at least four weeks. For the purpose of this limit, preauthorized, automatic transfers (including but not limited to transfer from savings deposit for overdraft protection or for direct bill payments) and transfers and withdrawals initiated by telephone, facsimile, or computer and transfers made by check, debit card or other similar order made by the depositor and payable to third parties is included.
State Bank of India New York Customer Manual for Deposits 36 or disclosed to a third party. The security of the PIN is the Card Holder’s responsibility. e. Funds: The Card Holder will maintain sufficient funds in the Account as necessary to cover any transactions at the time they are initiated. The Card Holder should not use or attempt to use the Card without sufficient funds in the Account. In the event of payment/debit made in excess of the balance available in the Account, Card Holder will be responsible to the Bank for the amount of any transaction completed and will also be responsible to the Bank for the Service Fee disclosed in the Schedule of Fees and Charges. h. Periodic Statements: Periodic Statements of the Account will be sent to the Card Holder as provided in Customer Manual. If you expect to receive any preauthorized transfer to your account, you may call 212-521-3286 to determine whether your transfer has been received. e. Expiration/Renewal: The Card is valid up to the last day of the month/year indicated on the Card. A renewal Card shall be sent by the Bank before the expiry of the Card at the discretion of the Bank. The Bank reserves the sole right to renew the Card account on expiry. The Card Holder is responsible for destroying the expired Card. Unless we are notified in writing otherwise, re-issued cards will be sent to your last known address according to the records of the Bank. f. Transfer types and Limitations: The Card is accepted at all electronic chip enabled Point-of-Sale (POS) terminals at stores and vendors (Merchant Establishments) displaying MasterCard or STAR logos. The Card is accepted at STAR Network ATMs and may be accepted at ATMs operated by other banks or financial institutions. The Card may be used to make purchases at an electronic chip enabled Point-of-Sale terminal, to pay bills directly by telephone, internet, or other means, or to make other such electronic transfers from an account. The Card may be used to withdraw cash from the Account, transfer funds between Accounts, and obtain Account balance information. Card Holder is entitled to receive a receipt of ATM Transactions containing sufficient information to identify the transaction and the terminal used. You cannot deposit cash or checks at ATMs. The Bank will have no liability if you deposit cash or checks at an ATM. g. Daily Use Limits: A Card Holder may use the Card to make purchases up to $2000.00 per day at Merchant Establishments or such other limits as the Bank may establish from time to time. The Bank may lower these limits in case of a technical failure. A Card Holder may withdraw up to $1000.00 per day at ATMs. The Bank reserves the right to lower this limit in case of a technical failure. h. Debit-card clearing: Debit-card Transactions may clear the Account differently than checks and traditional ATM card transactions. Because these transactions clear differently, the Card Holders should take care to keep an accurate register and monitor the Account’s balance for pending transactions and cleared transactions in order to avoid unwanted fees and other items being returned. i. Available balance: Each time the Card Holder uses the Card, a hold is immediately placed on funds in the account, reducing the available balance to pay checks and other debits that are presented to the Bank for payment. j. Holds on the account: Typically, debit-card transaction “holds” are for the amount of the actual
State Bank of India New York Customer Manual for Deposits 38 o. Fees: The Bank provides the Card at no charge, subject to such charges as Bank may make from time to time with advance notice as provided by law. When you use an ATM not owned by us, you may be charged a fee by the ATM operator and you may be charged a fee for a balance inquiry even if you do not complete a fund transfer. Cash withdrawals and balance inquiries may be subject to a fee (if used outside the STAR Network) and will be debited to the Account at the time of such transactions but will be credited back to your account by the Bank subject to Bank’s policy. p. ATM Safety: The Bank urges Card Holders to use caution when using the Card at an ATM:  Be aware of surroundings, especially at night. Look for well-lit ATMs, and do not use an ATM if any suspicious surroundings are observed.  Have the Card and any other materials necessary for the Transaction ready before approaching the ATM. Do not search through a purse or wallet at the ATM.  Secure cash immediately upon removal from the ATM. Count the cash later in the safety of a vehicle or home.  Remember that activity at ATMs is recorded by a surveillance camera.  When using an ATM vestibule, close the entry door immediately upon entering and exiting. Do not permit unknown persons to enter after regular banking hours. Complaints concerning security of an ATM should be directed to the security department of the bank operating the ATM, the New York State Department of Financial Services, or other governing agency.
State Bank of India New York Customer Manual for Deposits 32 f. What Items are available on the Next Day? Direct deposits such as social security, funds received through CHIPS and Fedwire, U.S. Treasury checks, Federal Reserve Bank checks, Federal Home Loan Bank checks, U.S. Postal Money Orders, State and Local Government checks, and Travelers checks will be available on the first business day after the day of deposit, provided the checks mentioned above are made payable to the account holder. g. What about Other Check Deposits? Effective July 1, 2020 revisions to our Funds Availability Policy have been implemented in accordance with changes to federal regulation. Our policy is to make funds from your cash and check deposits available to you on the first business day after the day we receive your deposit. The amount we make available for withdrawal by checks not subject to next day availability has been revised from $200 to $225. In some cases, we will not make all the funds you deposited by check available on the first business day after the day of your deposit. Depending on the type of check deposited, funds may not be available until the second business day after the day of your deposit. The amount available for withdrawal on exception holds for large deposits, new accounts and the amount for determining a repeat overdraft have been increased from $5,000 to $5,525. Funds deposited by check of more than $5,525 on any one day may be delayed for a longer period. Please use this chart to know when your deposited funds will be available to you (Please also carefully read the exceptions following this chart): Sl.
State Bank of India New York Customer Manual for Deposits 45 B. Service Fees & Charges Consumer Accounts Accounts of Business/ Associations Excess Transaction charges – Each transaction in Money Market Accounts in excess of 6 transfers or withdrawals or a combination of these in a statement period. $5 $5 Checks returned or paid against insufficient or unavailable funds # $10 $15 SCHEDULE OF FEES & CHARGES Minimum Balance Requirements & Service Charges Checking Account Money Market Account Consumer A/C Business/Associations Consumer A/c Business/Associations USA Resident Minimum daily balance 1,000 $ 20,000 $2,500 $ 50,000 Monthly service charge (if the balance falls below minimum on any day of the month) $15* (effective 01/01/2020) $ 50 $20* (effective 01/01/2020) $ 50 Non-USA Resident Minimum daily balance Opened at the sole discretion of the Bank and as per its Policy. Minimum balance is $10,000 Opened at the sole discretion of the Bank and as per its Policy. Minimum balance is $ 50,000 Opened at the sole discretion of the Bank and as per its Policy. Minimum balance is $ 25,000 Opened at the sole discretion of the Bank and as per its Policy. Minimum balance is $ 100,000 Monthly service charge (if the balance falls below minimum on any day of the month) $20* (effective 01/01/2020) $50 $25* (effective 01/01/2020) $50 Note : Consumer accounts = Accounts of natural persons
State Bank of India New York Customer Manual for Deposits 37 purchase, but in some instances, they may be for a different amount as MasterCard’s rules permit "authorization" holds based upon an estimated amount of the transaction, and, in some instances, may include additional amounts authorized under MasterCard’s rules. The Card Holder agrees that such a “hold” may be placed on his account/accounts in the amount authorized. These authorization holds can affect the Card Holder’s available balance for other transactions. The amount of your available balance will be decreased by the amount of the “hold‟ for as long as the “hold‟ is in effect. This means that funds on “hold‟ will not be available for withdrawal, transfer or payment. In each instance, the Card Holder is responsible to the Bank for the amount that the Bank settles based upon either the placed-hold limits or the final amount presented and settled. The Card Holder will remain responsible to the Bank for settlement of all pre-authorized transactions even if such transactions come after the hold is removed. This is another reason that the Card Holder should take care to keep an accurate register and monitor the Account’s balance for pending transactions and cleared transaction to ensure that sufficient funds are in the Account at all times. k. Overdraft on Account of Pre-authorized Transactions: Please note that while the Bank does not provide any overdraft facility on your debit card transactions, the Bank shall have right to recover funds from you if your account gets over-drawn because the Bank has settled a preauthorized transaction done at a Merchant Establishment using your debit card or on account of other such transactions done using your debit card. You agree that you will remain responsible to the Bank for the amount by which your account is overdrawn. Any two occurrences of your account having non- sufficient funds to cover a pre-approved/ authorized debit card transaction will lead to closure of your account and cancellation of the linked debit card facility. l. Cancellation of Merchant debit-card authorizations: Generally, the Bank is not permitted to allow the Card Holder to cancel a hold within MasterCard limits for Transactions that were authorized by the Card Holder. If, however, the Card Holder suspects that a Transaction was fraudulent or otherwise unauthorized, the Card Holder should contact the Merchant and the Bank for possible ways to chargeback the debit. Please see the Error Resolution Procedures in subsequent paragraphs for more information. m. Notice Regarding Money Market Deposit Accounts: If the Account is a Money Market Deposit Account, certain limitations on transactions apply. A maximum of 6 transfers or withdrawals, or a combination of such transfers or withdrawals, are permitted during a calendar month or statement cycle of at least four weeks, including transfers or withdrawal by check, ACH to third parties, and/or Debit Card transactions with Merchant Establishments. However, any number of the following transactions using the Debit Card at an ATM are permitted: transfers of funds between your own Accounts held with the Bank and balance inquiries. n. International Transactions: Additionally, Card Holders may use the Card at ATMs and Merchant Establishments in U.S. and India. Any transaction done in INR will be converted to U.S. dollars. The exchange rate is established by MasterCard and not the Bank. The use of the Card may also be restricted with respect to certain foreign countries as required by U.S. laws and regulations. Any offer or option for exchange rate given by any ATM machine is no way related to SBI NY Branch and they are offered by local ATM service provider. Your account will be debited based upon the option selected by you.
State Bank of India New York Customer Manual for Deposits 31 individuals who are members of the general public and reside in California. Accordingly, under Section 4052(f) of the California Financial Code, the Los Angeles branch does not do business with “consumers” as defined under California law and is not subject to the California Financial Information Privacy Act. Both New York and California have laws that require SBI-US to notify you in the event that unauthorized persons obtain your personal and private information maintained on our computer system. SBI-US has procedures in place to ensure that you receive such notice in the proper circumstances. SBI-US reserves the right to change the Privacy Policy at any time, but if we do so, we will notify you in a reasonable time when any change is implemented. We will also notify you annually as required by federal law. 8. FUNDS AVAILABILITY: An understanding of funds availability will help you to manage your money more easily and avoid the inconvenience of a returned check or a withdrawal request that cannot be honored. Our policy is to make funds you deposit into your SBI account(s) available for withdrawal based upon the type of deposit or check. The funds are made available within the period of time specified by federal regulations. a. How Can You Tell When Your Deposit Will Be Available? You can use the chart in this Manual to tell when your deposit will be available. To use this chart, first read the following questions and answers. b. What is the Day of Deposit? For determining the availability of your deposits, every day is a business day except Saturdays, Sundays, and Federal holidays. If you make a deposit before 4:00 pm (cash services available until 3:00 pm EST) on a business day that we are open, we will consider that day to be the day of your deposit. If you make a deposit after that time, we will consider that the deposit was made on the next business day that we are open. c. Are You a New SBI Customer? If you have been banking with SBI for 30 days or less, you are considered a new customer and special rules apply to you regarding funds availability. d. What is the Type of Deposit? The hold period or the number of days applicable for making available the funds depends on the type of deposit you make (such as a check drawn on the Bank, a check drawn on another bank/branch, or cashier’s check). e. What Items are Available on the Same Day? Cash deposits made up to 3:00 pm and checks drawn on any US offices of the Bank and Official, Certified, Cashier's and Teller's checks will be made available on the day of the deposit into the account.
State Bank of India New York Customer Manual for Deposits 11 age or older. For every additional withdrawal or check beyond above mentioned number in a statement cycle, $5 will be recovered e. Restriction on the number of credits/deposits: No restriction. f. Availability of account statement and frequency of monthly statement: Account statements at monthly intervals will be provided. 4.2 Money Market Deposit (MMD) Account This is an interest-bearing account from which withdrawals can be made in accordance with certain prescribed restrictions. Tiered interest rate is available on money market accounts based on the balances available in the account. The minimum deposit required for opening an account is the minimum daily balance requirement for the account which is tabled below. The daily minimum balances required to be maintained to avoid monthly service charges are as follows: Consumer Account Business/ Associations US Resident Customer $2,500 $50,000 Non-US Resident Customer $25,000 $ 100,000 A minimum balance service charge as listed in our “Schedule of Fees & Charges” in this Manual will be imposed every month if the balance in the account falls below the required minimum during any day of a calendar month. If the balance is less than the amount required to be deducted as service charge, the so available balance will be treated as service charges and the account may be closed forthwith, with notice to the customer at the last available address in our records. No overdraft is permitted under any circumstances in this account. Any check presented with insufficient funds will be dishonored. Service charges are listed in our “Schedule of Fees & Charges” in this Manual. A Money Market Deposit Account for Non-US Resident consumer or business/association would be opened at the sole discretion of the Bank and as per its policy, either on the same terms and conditions as for U.S- resident customers or on mutually agreed terms and conditions. Monthly service charges are listed in our “Schedule of Fees & Charges” in this Manual. Early closure fees will apply if you close your account within three months of opening. Other Features of Money Market Deposit Accounts a. Interest Rate: Tiered interest rate is available on MMD accounts based on the balances available in account. Interest rate on these accounts may vary from time to time. The Bank reserves the right to change the rate at any time. There is no limitation as to the percentage amount the interest rate may vary. You may visit our website https://sbinewyork.statebank or call (212) 521-3200 for information on the current rate of interest. b. Payment of Interest: Interest will accrue on your day-end balance. Interest earned during the month will be credited to the account at the close of business on the last business day of the month and will be made available to you on the first business day of the following month. There is no minimum balance required to earn the stated annual percentage yield. For non-cash deposits made into your account (for example checks) interest begins to accrue no later than the business day we receive credit for the deposit of the non-cash items. If the account is closed during the middle of a
State Bank of India New York Customer Manual for Deposits 30 offices are collectively referred to as SBI-US in this Notice. What we do How does SBI–US protect my personal information? To protect your personal information from unauthorized access and use, we use security measures that comply with federal law. SBI-US has established physical, technological and procedural systems and controls for protecting the confidentiality of your personal information. SBI-US employees undergo training on protecting customer information. How does SBI–US collect my personal information? We collect your personal information, for example, when you Open an account or deposit money Pay your bills or apply for a loan Use your credit or debit card We also collect your personal information from credit bureaus. Why can't I limit all sharing? Federal law gives you the right to limit only Sharing for affiliates’ everyday business purposes- information about your creditworthiness Affiliates from using your information to market to you Sharing for non-affiliates to market to you State laws and individual companies may give you additional rights to limit sharing. See below for more on your rights under state law.
State Bank of India New York Customer Manual for Deposits 50 but will be credited back to your Account by the Bank. A Card Holder may withdraw up to $1000.00 per day at ATMs. The Bank reserves the right to lower this limit in case of a technical failure. 9. Debit Card Use with Merchants: The Card is accepted at all electronic Point-of-Sale (POS) terminals at stores and vendors (Merchant Establishments) displaying MasterCard or STAR logos. The Card may be used to make purchases at a chip enabled electronic Point-of-Sale terminal, to pay bills directly by telephone, internet, or other means, or to make other such electronic transfers from an Account. a) Daily Use Limits: A Card Holder may use the Card to make purchases up to $2000.00 per day at Merchant Establishments or such other limits as the Bank may establish from time to time. The Bank may lower these limits in case of a technical failure. b) Debit-card clearing: Debit-card Transactions may clear the Account differently than checks and traditional ATM card transactions. Because these transactions clear differently, the Card Holder should take care to keep an accurate register and monitor the Account’s balance for pending transactions and cleared transactions in order to avoid unwanted fees and other items being returned.
State Bank of India New York Customer Manual for Deposits 38 o. Fees: The Bank provides the Card at no charge, subject to such charges as Bank may make from time to time with advance notice as provided by law. When you use an ATM not owned by us, you may be charged a fee by the ATM operator and you may be charged a fee for a balance inquiry even if you do not complete a fund transfer. Cash withdrawals and balance inquiries may be subject to a fee (if used outside the STAR Network) and will be debited to the Account at the time of such transactions but will be credited back to your account by the Bank subject to Bank’s policy. p. ATM Safety: The Bank urges Card Holders to use caution when using the Card at an ATM:  Be aware of surroundings, especially at night. Look for well-lit ATMs, and do not use an ATM if any suspicious surroundings are observed.  Have the Card and any other materials necessary for the Transaction ready before approaching the ATM. Do not search through a purse or wallet at the ATM.  Secure cash immediately upon removal from the ATM. Count the cash later in the safety of a vehicle or home.  Remember that activity at ATMs is recorded by a surveillance camera.  When using an ATM vestibule, close the entry door immediately upon entering and exiting. Do not permit unknown persons to enter after regular banking hours. Complaints concerning security of an ATM should be directed to the security department of the bank operating the ATM, the New York State Department of Financial Services, or other governing agency.
State Bank of India New York Customer Manual for Deposits 36 or disclosed to a third party. The security of the PIN is the Card Holder’s responsibility. e. Funds: The Card Holder will maintain sufficient funds in the Account as necessary to cover any transactions at the time they are initiated. The Card Holder should not use or attempt to use the Card without sufficient funds in the Account. In the event of payment/debit made in excess of the balance available in the Account, Card Holder will be responsible to the Bank for the amount of any transaction completed and will also be responsible to the Bank for the Service Fee disclosed in the Schedule of Fees and Charges. h. Periodic Statements: Periodic Statements of the Account will be sent to the Card Holder as provided in Customer Manual. If you expect to receive any preauthorized transfer to your account, you may call 212-521-3286 to determine whether your transfer has been received. e. Expiration/Renewal: The Card is valid up to the last day of the month/year indicated on the Card. A renewal Card shall be sent by the Bank before the expiry of the Card at the discretion of the Bank. The Bank reserves the sole right to renew the Card account on expiry. The Card Holder is responsible for destroying the expired Card. Unless we are notified in writing otherwise, re-issued cards will be sent to your last known address according to the records of the Bank. f. Transfer types and Limitations: The Card is accepted at all electronic chip enabled Point-of-Sale (POS) terminals at stores and vendors (Merchant Establishments) displaying MasterCard or STAR logos. The Card is accepted at STAR Network ATMs and may be accepted at ATMs operated by other banks or financial institutions. The Card may be used to make purchases at an electronic chip enabled Point-of-Sale terminal, to pay bills directly by telephone, internet, or other means, or to make other such electronic transfers from an account. The Card may be used to withdraw cash from the Account, transfer funds between Accounts, and obtain Account balance information. Card Holder is entitled to receive a receipt of ATM Transactions containing sufficient information to identify the transaction and the terminal used. You cannot deposit cash or checks at ATMs. The Bank will have no liability if you deposit cash or checks at an ATM. g. Daily Use Limits: A Card Holder may use the Card to make purchases up to $2000.00 per day at Merchant Establishments or such other limits as the Bank may establish from time to time. The Bank may lower these limits in case of a technical failure. A Card Holder may withdraw up to $1000.00 per day at ATMs. The Bank reserves the right to lower this limit in case of a technical failure. h. Debit-card clearing: Debit-card Transactions may clear the Account differently than checks and traditional ATM card transactions. Because these transactions clear differently, the Card Holders should take care to keep an accurate register and monitor the Account’s balance for pending transactions and cleared transactions in order to avoid unwanted fees and other items being returned. i. Available balance: Each time the Card Holder uses the Card, a hold is immediately placed on funds in the account, reducing the available balance to pay checks and other debits that are presented to the Bank for payment. j. Holds on the account: Typically, debit-card transaction “holds” are for the amount of the actual
State Bank of India New York Customer Manual for Deposits 37 purchase, but in some instances, they may be for a different amount as MasterCard’s rules permit "authorization" holds based upon an estimated amount of the transaction, and, in some instances, may include additional amounts authorized under MasterCard’s rules. The Card Holder agrees that such a “hold” may be placed on his account/accounts in the amount authorized. These authorization holds can affect the Card Holder’s available balance for other transactions. The amount of your available balance will be decreased by the amount of the “hold‟ for as long as the “hold‟ is in effect. This means that funds on “hold‟ will not be available for withdrawal, transfer or payment. In each instance, the Card Holder is responsible to the Bank for the amount that the Bank settles based upon either the placed-hold limits or the final amount presented and settled. The Card Holder will remain responsible to the Bank for settlement of all pre-authorized transactions even if such transactions come after the hold is removed. This is another reason that the Card Holder should take care to keep an accurate register and monitor the Account’s balance for pending transactions and cleared transaction to ensure that sufficient funds are in the Account at all times. k. Overdraft on Account of Pre-authorized Transactions: Please note that while the Bank does not provide any overdraft facility on your debit card transactions, the Bank shall have right to recover funds from you if your account gets over-drawn because the Bank has settled a preauthorized transaction done at a Merchant Establishment using your debit card or on account of other such transactions done using your debit card. You agree that you will remain responsible to the Bank for the amount by which your account is overdrawn. Any two occurrences of your account having non- sufficient funds to cover a pre-approved/ authorized debit card transaction will lead to closure of your account and cancellation of the linked debit card facility. l. Cancellation of Merchant debit-card authorizations: Generally, the Bank is not permitted to allow the Card Holder to cancel a hold within MasterCard limits for Transactions that were authorized by the Card Holder. If, however, the Card Holder suspects that a Transaction was fraudulent or otherwise unauthorized, the Card Holder should contact the Merchant and the Bank for possible ways to chargeback the debit. Please see the Error Resolution Procedures in subsequent paragraphs for more information. m. Notice Regarding Money Market Deposit Accounts: If the Account is a Money Market Deposit Account, certain limitations on transactions apply. A maximum of 6 transfers or withdrawals, or a combination of such transfers or withdrawals, are permitted during a calendar month or statement cycle of at least four weeks, including transfers or withdrawal by check, ACH to third parties, and/or Debit Card transactions with Merchant Establishments. However, any number of the following transactions using the Debit Card at an ATM are permitted: transfers of funds between your own Accounts held with the Bank and balance inquiries. n. International Transactions: Additionally, Card Holders may use the Card at ATMs and Merchant Establishments in U.S. and India. Any transaction done in INR will be converted to U.S. dollars. The exchange rate is established by MasterCard and not the Bank. The use of the Card may also be restricted with respect to certain foreign countries as required by U.S. laws and regulations. Any offer or option for exchange rate given by any ATM machine is no way related to SBI NY Branch and they are offered by local ATM service provider. Your account will be debited based upon the option selected by you.
State Bank of India New York Customer Manual for Deposits 52 ATM Safety: The Bank urges Card Holders to use caution when using the Card at an ATM: a) Be aware of surroundings, especially at night. Look for well-lit ATMs, and do not use an ATM if any suspicious surroundings are observed. b) Have the Card and any other materials necessary for the Transaction ready before approaching the ATM. Do not search through a purse or wallet at the ATM. c) Secure cash immediately upon removal from the ATM. Count the cash later in the safety of a vehicle or home. d) Remember that activity at ATMs is recorded by a surveillance camera. e) When using an ATM vestibule, close the entry door immediately upon entering and exiting. Do not permit unknown persons to enter after regular banking hours. f) Complaints concerning security of an ATM should be directed to the security department of the bank operating the ATM, the New York Banking Department, or other governing agency.
State Bank of India New York Customer Manual for Deposits 31 individuals who are members of the general public and reside in California. Accordingly, under Section 4052(f) of the California Financial Code, the Los Angeles branch does not do business with “consumers” as defined under California law and is not subject to the California Financial Information Privacy Act. Both New York and California have laws that require SBI-US to notify you in the event that unauthorized persons obtain your personal and private information maintained on our computer system. SBI-US has procedures in place to ensure that you receive such notice in the proper circumstances. SBI-US reserves the right to change the Privacy Policy at any time, but if we do so, we will notify you in a reasonable time when any change is implemented. We will also notify you annually as required by federal law. 8. FUNDS AVAILABILITY: An understanding of funds availability will help you to manage your money more easily and avoid the inconvenience of a returned check or a withdrawal request that cannot be honored. Our policy is to make funds you deposit into your SBI account(s) available for withdrawal based upon the type of deposit or check. The funds are made available within the period of time specified by federal regulations. a. How Can You Tell When Your Deposit Will Be Available? You can use the chart in this Manual to tell when your deposit will be available. To use this chart, first read the following questions and answers. b. What is the Day of Deposit? For determining the availability of your deposits, every day is a business day except Saturdays, Sundays, and Federal holidays. If you make a deposit before 4:00 pm (cash services available until 3:00 pm EST) on a business day that we are open, we will consider that day to be the day of your deposit. If you make a deposit after that time, we will consider that the deposit was made on the next business day that we are open. c. Are You a New SBI Customer? If you have been banking with SBI for 30 days or less, you are considered a new customer and special rules apply to you regarding funds availability. d. What is the Type of Deposit? The hold period or the number of days applicable for making available the funds depends on the type of deposit you make (such as a check drawn on the Bank, a check drawn on another bank/branch, or cashier’s check). e. What Items are Available on the Same Day? Cash deposits made up to 3:00 pm and checks drawn on any US offices of the Bank and Official, Certified, Cashier's and Teller's checks will be made available on the day of the deposit into the account.
State Bank of India New York Customer Manual for Deposits 11 age or older. For every additional withdrawal or check beyond above mentioned number in a statement cycle, $5 will be recovered e. Restriction on the number of credits/deposits: No restriction. f. Availability of account statement and frequency of monthly statement: Account statements at monthly intervals will be provided. 4.2 Money Market Deposit (MMD) Account This is an interest-bearing account from which withdrawals can be made in accordance with certain prescribed restrictions. Tiered interest rate is available on money market accounts based on the balances available in the account. The minimum deposit required for opening an account is the minimum daily balance requirement for the account which is tabled below. The daily minimum balances required to be maintained to avoid monthly service charges are as follows: Consumer Account Business/ Associations US Resident Customer $2,500 $50,000 Non-US Resident Customer $25,000 $ 100,000 A minimum balance service charge as listed in our “Schedule of Fees & Charges” in this Manual will be imposed every month if the balance in the account falls below the required minimum during any day of a calendar month. If the balance is less than the amount required to be deducted as service charge, the so available balance will be treated as service charges and the account may be closed forthwith, with notice to the customer at the last available address in our records. No overdraft is permitted under any circumstances in this account. Any check presented with insufficient funds will be dishonored. Service charges are listed in our “Schedule of Fees & Charges” in this Manual. A Money Market Deposit Account for Non-US Resident consumer or business/association would be opened at the sole discretion of the Bank and as per its policy, either on the same terms and conditions as for U.S- resident customers or on mutually agreed terms and conditions. Monthly service charges are listed in our “Schedule of Fees & Charges” in this Manual. Early closure fees will apply if you close your account within three months of opening. Other Features of Money Market Deposit Accounts a. Interest Rate: Tiered interest rate is available on MMD accounts based on the balances available in account. Interest rate on these accounts may vary from time to time. The Bank reserves the right to change the rate at any time. There is no limitation as to the percentage amount the interest rate may vary. You may visit our website https://sbinewyork.statebank or call (212) 521-3200 for information on the current rate of interest. b. Payment of Interest: Interest will accrue on your day-end balance. Interest earned during the month will be credited to the account at the close of business on the last business day of the month and will be made available to you on the first business day of the following month. There is no minimum balance required to earn the stated annual percentage yield. For non-cash deposits made into your account (for example checks) interest begins to accrue no later than the business day we receive credit for the deposit of the non-cash items. If the account is closed during the middle of a
The following is indicative list of eligible non-limited transactions:  Deposits  ATM Cash withdrawals subject to daily amount limits and sufficient available funds in the account  Withdrawals made in person or by mail at State Bank of India New York  Transfers made in person at State Bank of India New York The following is indicative list of transactions subject to the limit of (SIX) transfers:  Checks, Point of Sale (POS) transactions or debit card purchases  Automatic transfers to another deposit account at SBI, New York  Automatic transfers to a third party or another institution  Telephonic transfers including those initiated by phone call, fax, email through a Bank's representative  Online banking transfers and bill payments Should more than 6 (six) transfers or withdrawals which are subject to the limit, be effected in a month in an MMDA account, an excess check writing fee of $5.00 per excess check or transfer will be levied. Further, if the customer continues to violate the prescribed limit repeatedly, we shall send a letter to the customer, notifying him/her of the violation and also of our policy for reclassifying the account as Checking Account. In case the customer is not agreeable for reclassification, the account will be closed. The Bank reserves the right to enforce this clause if prescribed limits are violated in three consecutive months. We also reserve the right to refuse any transaction(s) which exceed the permissible limit. We are required by law to reserve the right of 7 days’ advance notice before permitting a withdrawal. However, we do not currently exercise this right.
State Bank of India New York Customer Manual for Deposits 12 month, accrued interest will be credited and paid. Accrued interest will be credited to your account prior to closing the same. c. Compounding Method: Your Money Market Deposit Account earn simple interest on a 360 days’ basis which accrues daily based on the end-of-the-day balance. The daily balance method will be used to calculate the interest on the account. This method applies a daily periodic rate to the principal in the account each day. Although interest accrues daily, you may not withdraw the earnings until the first business day of the following calendar month, when the same is credited into the account, provided the account is not closed. If not withdrawn, interest is added to and becomes part of the account balance. Since interest is added to your total account balance, any credited interest in the account is, effectively, compounded monthly. d. Annual Percentage Yield: The annual percentage yield earned (APYE) for the statement period will be advised with each monthly statement account. e. Withdrawals: A maximum of 6 transfers or withdrawals, or a combination of such transfers or withdrawals, are permitted during a calendar month or statement cycle of at least four weeks. For the purpose of this limit, preauthorized, automatic transfers (including but not limited to transfer from savings deposit for overdraft protection or for direct bill payments) and transfers and withdrawals initiated by telephone, facsimile, or computer and transfers made by check, debit card or other similar order made by the depositor and payable to third parties is included.
State Bank of India New York Customer Manual for Deposits 32 f. What Items are available on the Next Day? Direct deposits such as social security, funds received through CHIPS and Fedwire, U.S. Treasury checks, Federal Reserve Bank checks, Federal Home Loan Bank checks, U.S. Postal Money Orders, State and Local Government checks, and Travelers checks will be available on the first business day after the day of deposit, provided the checks mentioned above are made payable to the account holder. g. What about Other Check Deposits? Effective July 1, 2020 revisions to our Funds Availability Policy have been implemented in accordance with changes to federal regulation. Our policy is to make funds from your cash and check deposits available to you on the first business day after the day we receive your deposit. The amount we make available for withdrawal by checks not subject to next day availability has been revised from $200 to $225. In some cases, we will not make all the funds you deposited by check available on the first business day after the day of your deposit. Depending on the type of check deposited, funds may not be available until the second business day after the day of your deposit. The amount available for withdrawal on exception holds for large deposits, new accounts and the amount for determining a repeat overdraft have been increased from $5,000 to $5,525. Funds deposited by check of more than $5,525 on any one day may be delayed for a longer period. Please use this chart to know when your deposited funds will be available to you (Please also carefully read the exceptions following this chart): Sl.

Test Case

Question: What is the penalty for early withdrawal of principal from a CD?

Metric Baseline Score Current Score
answer_accuracy 0.83505625 0.83257174 (-0.00248450)
groundedness 0.89200748 0.88317508 (-0.00883240)
mean_answer_similarity 0.88108623 0.83179584 (-0.04929039)
mean_reciprocal_rank 1.00000000 1.00000000
min_answer_similarity 0.83505625 0.75257864 (-0.08247761)
model_failures 0.00000000 0.00000000
model_generation_failures 0.00000000 0.00000000
model_parse_failures 0.00000000 0.00000000
model_passes 1.00000000 1.00000000
model_retrieval_failures 0.00000000 0.00000000
precision_relevancy 0.87630031 0.87630031 (+0.00000000)
recall_relevancy 0.93339401 0.93339401
rouge_1 0.40784314 0.39843750 (-0.00940564)
rouge_2 0.28458498 0.28346457 (-0.00112041)
rouge_l 0.33725490 0.33593750 (-0.00131740)

Legend:

  • Metric : The evaluation metric name. Shown in bold red if the metric flipped between pass/fail status.
  • Baseline Score : The metric value for the baseline model. Shown in bold green if baseline won, red if lost.
  • Current Score : The metric value for the current model, followed by the delta from baseline in parentheses.
  • Delta Colors : Green = improvement, Orange = regression, Red = metric flipped to fail.
  • Winner Determination : For each metric, the winner is determined by comparing scores while considering the metric's directionality (higher is better vs. lower is better).
Baseline Result Current Result
Model claude-3-7-sonnet-20250219@h2ogpte claude-3-7-sonnet-20250219@h2ogpte
Question What is the penalty for early withdrawal of principal from a CD?
Expected answer The penalty for early withdrawal of principal from a CD is as follows: 14 days for 14 days, 30 days for 1 month to less than 1 year, 60 days for 1 year to less than 3 years, 120 days for 3 years to less than 5 years, and 180 days for 5 years & over.
Actual Answer According to the document, the penalty for early withdrawal of principal from a Certificate of Deposit (CD) varies based on the term of the deposit: For regular CDs: - 14 days term: 14 days of interest - 1 month to less than 1 year: 30 days of interest - 1 year to less than 3 years: 60 days of interest - 3 years to less than 5 years: 120 days of interest - 5 years & over: 180 days of interest For Senior Citizen CDs: - 1 year to less than 3 years: 60 days of interest - 3 years to less than 5 years: 120 days of interest - 5 years & over: 180 days of interest The document also notes that the penalty will be calculated at the same interest rate as the deposit. However, State Bank of India New York offers a "Principal Protection" feature, which means the penalty for early withdrawal would be limited to the amount of interest paid/payable and will not result in reduction of the original deposit amount. The penalty will not be charged in case the withdrawal is caused by the death of the depositor or if the depositor is declared legally incompetent. Partial withdrawal of CD principal is not permitted. According to the document, the penalty for early withdrawal of principal from a Certificate of Deposit (CD) varies based on the term of the deposit: For standard CDs: - 14 days term: 14 days of interest - 1 month to less than 1 year: 30 days of interest - 1 year to less than 3 years: 60 days of interest - 3 years to less than 5 years: 120 days of interest - 5 years & over: 180 days of interest For Senior Citizen CDs: - 1 year to less than 3 years: 60 days of interest - 3 years to less than 5 years: 120 days of interest - 5 years & over: 180 days of interest The document also notes that: 1. The penalty will be calculated at the same interest rate of the deposit. 2. A penalty will not be charged if the premature withdrawal is caused by the death of the depositor or if the depositor is declared legally incompetent. 3. State Bank of India New York CDs come with a "Principal Protection" feature, meaning the penalty for early withdrawal would be limited to the amount of interest paid/payable and will not result in reduction of the amount originally deposited. 4. Partial withdrawal is not permitted.
Retrieved Context
d. Minimum Balance Requirement: The minimum amount required for each CD will be USD 25,000. There is no maximum limit under the product. e. Early Withdrawal Penalty: All premature withdrawals incur a penalty as mentioned below. Partial withdrawal is not permitted.
If we do not hear from you, and unless you had specifically advised us against automatic renewal when you opened the CD, 1. We will automatically renew the CD (principal and earned interest) for a period of one year at the rate offered for one year term on the date the CD matured for CDs having maturity of 1 year or more. 2. For CDs of lower tenor, the CD shall be auto-rolled over for original tenor. In the absence of your instruction for disposal of the maturity proceeds (where automatic renewal option has been declined), the maturity amount will be placed in a non-interest bearing account.
State Bank of India New York Customer Manual for Deposits 13 4.3. CERTIFICATE OF DEPOSIT (“CD”) A CD earns a fixed rate of interest when an amount of money (principal) is left on deposit with the Bank for a fixed period (a fixed number of days, months or years). After an account is opened, you may not make deposits into or withdraw from this account until the maturity date. Premature withdrawal of principal would attract a penalty. Refer to “Penalty for Early Withdrawal of Principal” (Section f). We offer CDs with maturities from 3 months to 5 years. Bank also accepts deposit for a tenor from 7 days to 3 months on a case to case basis. a. Interest Rate: The interest rate earned on a Certificate of Deposit will be a guaranteed fixed rate for the term of the CD. This rate is determined by the Bank, based on market conditions, at the time the account is opened or renewed. Presently we are not offering floating rate Certificate of Deposits. For current rate information, you may visit our website https://sbinewyork.statebank or call 212-521-3390. b. Annual Percentage Yield (APY): Our Certificates of Deposit are offered on simple interest (also called non-cumulative interest) and compound interest (also called cumulative interest) basis, depending upon your choice. For CDs with simple interest, there will not be any difference in the interest rate (also called Annual Percentage Rate, or APR) and the Annual Percentage Yield (APY). For CDs where interest is compounded, the Annual Percentage Yield measures the total amount of interest paid on the account in a year based on the interest rate and the frequency of compounding, which is quarterly. The interest is calculated on a 365 days basis. c. Compounding Period/Payment of Interest: If you choose to receive simple interest (non- cumulative) on your CD, you may opt to withdraw the interest at monthly/quarterly/half-yearly intervals, at the time of opening or renewing the CD, provided the deposit is for one year or more. For CDs of less than six months, the simple interest is paid at maturity. If you choose to receive compounded interest on your CD, interest will be compounded at quarterly intervals and will be paid along with the principal at the time of maturity. This option is only available for CDs of six months or higher maturities.
a. Interest Rate: The interest rate earned on a Senior Citizen Certificate of Deposit will earn fixed rate for the term of the CD. This rate is determined by the Bank, based on market conditions, at the time the account is opened or renewed. For current rate information, you may visit our website https://sbinewyork.statebank or call (212) 521-3390 b. Annual Percentage Yield (APY): Senior Citizen Certificate of Deposit is offered on simple interest (also called non-cumulative interest) and compound interest (also called cumulative interest) basis, depending upon your choice. In case of simple interest, the Annual Percentage Rate(APR) and Annual Percentage Yield would be the same. In case of compound interest, APY measures the total amount of interest paid on the account in a year based on the interest rate and the frequency of compounding is quarterly. The interest is calculated on a 365 days basis. c. Compounding Period/Payment of Interest: If you choose to receive simple interest (non- cumulative) on your CD, you may opt to withdraw the interest at monthly/quarterly/half-yearly intervals, at the time of opening or renewing the CD. If you choose to receive compounded interest on your CD, interest will be compounded at quarterly intervals and will be paid along with the principal at the time of maturity.
State Bank of India New York Customer Manual for Deposits 14 Type US Resident Non-US Resident Consumer accounts $5,000 $10,000 Accounts of Businesses $10,000 $10,000 f. Early Withdrawal Penalty: The principal amount of CD cannot usually be withdrawn before the maturity date, unless the Bank consents to the withdrawal as a special case. We may require that all holders of a joint account authorize a premature withdrawal of the principal from a CD account. Partial withdrawal is not permitted. The penalty for early withdrawals of CD is as follows: Term of Deposit No of Days for which Interest will be recovered 14 days 14 days 1 month to less than 1 year 30 days 1 year to less than 3 years 60 days 3 years to less than 5 years 120 days 5 years & over 180 days The penalty will be calculated at the same interest rate of the deposit. A penalty will not be charged if the premature withdrawal is caused by the death of the depositor or if the depositor is declared legally incompetent. g. Principal Protection: SBI New York Certificate of Deposit comes with “Principal Protection” feature. The penalty for early withdrawal would be limited up to the amount of interest paid / payable and will not result in reduction of the amount originally deposited. h. Renewal: If your CD is for a term of more than 30 days, we will send you a maturity notice not less than 14 days and not more than 30 days prior to the maturity date. No maturity notice will be sent for Certificate of Deposit with term of 30 days or less.
d. Interest Payment Method: When opening the CD, you may opt to receive the periodic interest payments by any one of the following: • Through ACH/Wire transfer to your designated bank account • By an official check through regular mail • In your Checking or Money Market Deposit Account with us. If you opt to receive compounded interest (cumulative), we will pay you interest along with the principal at the time of maturity of the CD. e. Minimum Balance Requirement: The minimum amount required for each CD may vary for US resident depositors and those based outside the USA. It may also vary for consumer and accounts of businesses. Currently, the following are the minimum balances:
• Principal: The exact sum of money deposited in an account or the amount of money borrowed. • Right of Set-Off: Right to adjust any overdue debt from any other account held singly or jointly with us. • Substitute Check: means a paper reproduction of an original check that contains an image of the front and back of the original check, bears a MICR line, and is suitable for automated processing in the same manner as the original check. 7 Privacy Notice: FACTS WHAT DOES STATE BANK OF INDIA (SBI-US) DO WITH YOUR PERSONAL INFORMATION? Why? Financial companies choose how they share your personal information. Federal law gives consumers the right to limit some but not all sharing. Federal law also requires us to tell you how we collect, share, and protect your personal information. Please read this notice carefully to understand what we do. What? The types of personal information we collect and share depend on the product or service you have with us. This information can include: Social Security number and income Account balances and payment history Assets and debt When you are no longer our customer, we continue to share your information as described in this notice.
State Bank of India New York Customer Manual for Deposits 15 CDs that were automatically renewed have a ten-calendar-day grace period (including the date of maturity). During the grace period, you may withdraw the amount of your deposit without incurring a premature withdrawal penalty. However, no interest will be paid from the date of maturity until the date of such withdrawal. If you choose to renew your deposit, during this grace period of 10 days, from a date later than the date of maturity, no interest will be paid from the date of maturity until the date of such renewal. Please, however, note that written instructions for withdrawal should be received by us within the grace period. The instructions will be accepted through Secured Messaging on Internet Banking Portal/Mail/In person visits to the Bank. CDs that mature on Saturdays, Sundays or Federal holidays will be available for withdrawal on the next business day and interest will be paid until the maturity date. CDs may not be negotiated or transferred to another individual or corporation. 4.3.1 Senior Citizen Certificate of Deposit This is a product variant of certificate of deposit specifically available to customers who are aged 60 years and above. These accounts can be either opened as Single or Joint deposits. In case of joint accounts, the primary account holder should meet the age eligibility criteria. We offer Senior Citizen CD with maturities from 1 year to 5 years. The product is available to US Citizens, Permanent Residents and Resident Aliens. In case of joint accounts, all the customers should be US Citizens, Permanent Residents or Resident aliens.
State Bank of India New York Customer Manual for Deposits 16 Maturity period of deposit Number of days for which interest will be recovered 1 year to less than 3 years 60 days 3 years to less than 5 years 120 days 5 years & over 180 days The penalty will be calculated at the same interest rate of the deposit. A penalty will not be charged in case the withdrawal is caused by death of the depositor or if the depositor is declared legally incompetent. Principal Protection: SBI New York Certificate of Deposit comes with the “Principal Protection” feature. The penalty for early withdrawal would be limited up to the amount of interest paid / payable and will not result in reduction of the amount originally deposited. g. Interest Payment Method: When opening the CD, you may opt to receive the periodic interest payments by any one of the following: • Through ACH/Wire transfer to your designated bank account • By an official check through regular mail • In your Checking or Money Market Deposit Account with us. h. Renewal: We will send you a maturity notice not less than 14 days and not more than 30 days prior to the maturity date. If we do not hear from you, and unless you had specifically advised us against automatic renewal when you opened the CD, we will automatically renew the CD after 10 calendar days, under the same product for a period of one year at the rate offered for one year term on the date the CD matured. In the absence of your instruction for disposal of the maturity proceeds (where automatic renewal option has been declined), the maturity amount will be placed in a non-interest bearing account. CDs that were automatically renewed have a ten- calendar-day grace period (including the date of maturity). During the grace period, you may withdraw the amount of your deposit without incurring a premature withdrawal penalty. However, no interest will be paid from the date of maturity until the date of such withdrawal. If you choose to renew your deposit, during this grace period of 10 days, from a date later than the date of maturity, no interest will be paid from the date of maturity until the date of such renewal. Please, however, note that written instructions for withdrawal should be received by us within the grace period. The instructions will be accepted through Secured Messaging on Internet Banking Portal/Mail/In person visits to the Bank. CDs that mature on Saturdays, Sundays or Federal holidays will be available for withdrawal on the next business day and interest will be paid until the maturity date. CDs may not be negotiated or transferred to another individual or corporation. Your existing CDs may also be renewed as Senior Citizen CD in case you fulfil the eligibility norms subject to receipt of written request to convert the CD into a Senior Citizen CD. Existing CDs will not be auto renewed as Senior Citizen CD even though you may fulfil the eligibility conditions.
State Bank of India New York Customer Manual for Deposits 12 month, accrued interest will be credited and paid. Accrued interest will be credited to your account prior to closing the same. c. Compounding Method: Your Money Market Deposit Account earn simple interest on a 360 days’ basis which accrues daily based on the end-of-the-day balance. The daily balance method will be used to calculate the interest on the account. This method applies a daily periodic rate to the principal in the account each day. Although interest accrues daily, you may not withdraw the earnings until the first business day of the following calendar month, when the same is credited into the account, provided the account is not closed. If not withdrawn, interest is added to and becomes part of the account balance. Since interest is added to your total account balance, any credited interest in the account is, effectively, compounded monthly. d. Annual Percentage Yield: The annual percentage yield earned (APYE) for the statement period will be advised with each monthly statement account. e. Withdrawals: A maximum of 6 transfers or withdrawals, or a combination of such transfers or withdrawals, are permitted during a calendar month or statement cycle of at least four weeks. For the purpose of this limit, preauthorized, automatic transfers (including but not limited to transfer from savings deposit for overdraft protection or for direct bill payments) and transfers and withdrawals initiated by telephone, facsimile, or computer and transfers made by check, debit card or other similar order made by the depositor and payable to third parties is included.
d. Minimum Balance Requirement: The minimum amount required for each CD will be USD 25,000. There is no maximum limit under the product. e. Early Withdrawal Penalty: All premature withdrawals incur a penalty as mentioned below. Partial withdrawal is not permitted.
If we do not hear from you, and unless you had specifically advised us against automatic renewal when you opened the CD, 1. We will automatically renew the CD (principal and earned interest) for a period of one year at the rate offered for one year term on the date the CD matured for CDs having maturity of 1 year or more. 2. For CDs of lower tenor, the CD shall be auto-rolled over for original tenor. In the absence of your instruction for disposal of the maturity proceeds (where automatic renewal option has been declined), the maturity amount will be placed in a non-interest bearing account.
State Bank of India New York Customer Manual for Deposits 13 4.3. CERTIFICATE OF DEPOSIT (“CD”) A CD earns a fixed rate of interest when an amount of money (principal) is left on deposit with the Bank for a fixed period (a fixed number of days, months or years). After an account is opened, you may not make deposits into or withdraw from this account until the maturity date. Premature withdrawal of principal would attract a penalty. Refer to “Penalty for Early Withdrawal of Principal” (Section f). We offer CDs with maturities from 3 months to 5 years. Bank also accepts deposit for a tenor from 7 days to 3 months on a case to case basis. a. Interest Rate: The interest rate earned on a Certificate of Deposit will be a guaranteed fixed rate for the term of the CD. This rate is determined by the Bank, based on market conditions, at the time the account is opened or renewed. Presently we are not offering floating rate Certificate of Deposits. For current rate information, you may visit our website https://sbinewyork.statebank or call 212-521-3390. b. Annual Percentage Yield (APY): Our Certificates of Deposit are offered on simple interest (also called non-cumulative interest) and compound interest (also called cumulative interest) basis, depending upon your choice. For CDs with simple interest, there will not be any difference in the interest rate (also called Annual Percentage Rate, or APR) and the Annual Percentage Yield (APY). For CDs where interest is compounded, the Annual Percentage Yield measures the total amount of interest paid on the account in a year based on the interest rate and the frequency of compounding, which is quarterly. The interest is calculated on a 365 days basis. c. Compounding Period/Payment of Interest: If you choose to receive simple interest (non- cumulative) on your CD, you may opt to withdraw the interest at monthly/quarterly/half-yearly intervals, at the time of opening or renewing the CD, provided the deposit is for one year or more. For CDs of less than six months, the simple interest is paid at maturity. If you choose to receive compounded interest on your CD, interest will be compounded at quarterly intervals and will be paid along with the principal at the time of maturity. This option is only available for CDs of six months or higher maturities.
d. Interest Payment Method: When opening the CD, you may opt to receive the periodic interest payments by any one of the following: • Through ACH/Wire transfer to your designated bank account • By an official check through regular mail • In your Checking or Money Market Deposit Account with us. If you opt to receive compounded interest (cumulative), we will pay you interest along with the principal at the time of maturity of the CD. e. Minimum Balance Requirement: The minimum amount required for each CD may vary for US resident depositors and those based outside the USA. It may also vary for consumer and accounts of businesses. Currently, the following are the minimum balances:
a. Interest Rate: The interest rate earned on a Senior Citizen Certificate of Deposit will earn fixed rate for the term of the CD. This rate is determined by the Bank, based on market conditions, at the time the account is opened or renewed. For current rate information, you may visit our website https://sbinewyork.statebank or call (212) 521-3390 b. Annual Percentage Yield (APY): Senior Citizen Certificate of Deposit is offered on simple interest (also called non-cumulative interest) and compound interest (also called cumulative interest) basis, depending upon your choice. In case of simple interest, the Annual Percentage Rate(APR) and Annual Percentage Yield would be the same. In case of compound interest, APY measures the total amount of interest paid on the account in a year based on the interest rate and the frequency of compounding is quarterly. The interest is calculated on a 365 days basis. c. Compounding Period/Payment of Interest: If you choose to receive simple interest (non- cumulative) on your CD, you may opt to withdraw the interest at monthly/quarterly/half-yearly intervals, at the time of opening or renewing the CD. If you choose to receive compounded interest on your CD, interest will be compounded at quarterly intervals and will be paid along with the principal at the time of maturity.
State Bank of India New York Customer Manual for Deposits 14 Type US Resident Non-US Resident Consumer accounts $5,000 $10,000 Accounts of Businesses $10,000 $10,000 f. Early Withdrawal Penalty: The principal amount of CD cannot usually be withdrawn before the maturity date, unless the Bank consents to the withdrawal as a special case. We may require that all holders of a joint account authorize a premature withdrawal of the principal from a CD account. Partial withdrawal is not permitted. The penalty for early withdrawals of CD is as follows: Term of Deposit No of Days for which Interest will be recovered 14 days 14 days 1 month to less than 1 year 30 days 1 year to less than 3 years 60 days 3 years to less than 5 years 120 days 5 years & over 180 days The penalty will be calculated at the same interest rate of the deposit. A penalty will not be charged if the premature withdrawal is caused by the death of the depositor or if the depositor is declared legally incompetent. g. Principal Protection: SBI New York Certificate of Deposit comes with “Principal Protection” feature. The penalty for early withdrawal would be limited up to the amount of interest paid / payable and will not result in reduction of the amount originally deposited. h. Renewal: If your CD is for a term of more than 30 days, we will send you a maturity notice not less than 14 days and not more than 30 days prior to the maturity date. No maturity notice will be sent for Certificate of Deposit with term of 30 days or less.
State Bank of India New York Customer Manual for Deposits 16 Maturity period of deposit Number of days for which interest will be recovered 1 year to less than 3 years 60 days 3 years to less than 5 years 120 days 5 years & over 180 days The penalty will be calculated at the same interest rate of the deposit. A penalty will not be charged in case the withdrawal is caused by death of the depositor or if the depositor is declared legally incompetent. Principal Protection: SBI New York Certificate of Deposit comes with the “Principal Protection” feature. The penalty for early withdrawal would be limited up to the amount of interest paid / payable and will not result in reduction of the amount originally deposited. g. Interest Payment Method: When opening the CD, you may opt to receive the periodic interest payments by any one of the following: • Through ACH/Wire transfer to your designated bank account • By an official check through regular mail • In your Checking or Money Market Deposit Account with us. h. Renewal: We will send you a maturity notice not less than 14 days and not more than 30 days prior to the maturity date. If we do not hear from you, and unless you had specifically advised us against automatic renewal when you opened the CD, we will automatically renew the CD after 10 calendar days, under the same product for a period of one year at the rate offered for one year term on the date the CD matured. In the absence of your instruction for disposal of the maturity proceeds (where automatic renewal option has been declined), the maturity amount will be placed in a non-interest bearing account. CDs that were automatically renewed have a ten- calendar-day grace period (including the date of maturity). During the grace period, you may withdraw the amount of your deposit without incurring a premature withdrawal penalty. However, no interest will be paid from the date of maturity until the date of such withdrawal. If you choose to renew your deposit, during this grace period of 10 days, from a date later than the date of maturity, no interest will be paid from the date of maturity until the date of such renewal. Please, however, note that written instructions for withdrawal should be received by us within the grace period. The instructions will be accepted through Secured Messaging on Internet Banking Portal/Mail/In person visits to the Bank. CDs that mature on Saturdays, Sundays or Federal holidays will be available for withdrawal on the next business day and interest will be paid until the maturity date. CDs may not be negotiated or transferred to another individual or corporation. Your existing CDs may also be renewed as Senior Citizen CD in case you fulfil the eligibility norms subject to receipt of written request to convert the CD into a Senior Citizen CD. Existing CDs will not be auto renewed as Senior Citizen CD even though you may fulfil the eligibility conditions.
• Principal: The exact sum of money deposited in an account or the amount of money borrowed. • Right of Set-Off: Right to adjust any overdue debt from any other account held singly or jointly with us. • Substitute Check: means a paper reproduction of an original check that contains an image of the front and back of the original check, bears a MICR line, and is suitable for automated processing in the same manner as the original check. 7 Privacy Notice: FACTS WHAT DOES STATE BANK OF INDIA (SBI-US) DO WITH YOUR PERSONAL INFORMATION? Why? Financial companies choose how they share your personal information. Federal law gives consumers the right to limit some but not all sharing. Federal law also requires us to tell you how we collect, share, and protect your personal information. Please read this notice carefully to understand what we do. What? The types of personal information we collect and share depend on the product or service you have with us. This information can include: Social Security number and income Account balances and payment history Assets and debt When you are no longer our customer, we continue to share your information as described in this notice.
State Bank of India New York Customer Manual for Deposits 15 CDs that were automatically renewed have a ten-calendar-day grace period (including the date of maturity). During the grace period, you may withdraw the amount of your deposit without incurring a premature withdrawal penalty. However, no interest will be paid from the date of maturity until the date of such withdrawal. If you choose to renew your deposit, during this grace period of 10 days, from a date later than the date of maturity, no interest will be paid from the date of maturity until the date of such renewal. Please, however, note that written instructions for withdrawal should be received by us within the grace period. The instructions will be accepted through Secured Messaging on Internet Banking Portal/Mail/In person visits to the Bank. CDs that mature on Saturdays, Sundays or Federal holidays will be available for withdrawal on the next business day and interest will be paid until the maturity date. CDs may not be negotiated or transferred to another individual or corporation. 4.3.1 Senior Citizen Certificate of Deposit This is a product variant of certificate of deposit specifically available to customers who are aged 60 years and above. These accounts can be either opened as Single or Joint deposits. In case of joint accounts, the primary account holder should meet the age eligibility criteria. We offer Senior Citizen CD with maturities from 1 year to 5 years. The product is available to US Citizens, Permanent Residents and Resident Aliens. In case of joint accounts, all the customers should be US Citizens, Permanent Residents or Resident aliens.
State Bank of India New York Customer Manual for Deposits 12 month, accrued interest will be credited and paid. Accrued interest will be credited to your account prior to closing the same. c. Compounding Method: Your Money Market Deposit Account earn simple interest on a 360 days’ basis which accrues daily based on the end-of-the-day balance. The daily balance method will be used to calculate the interest on the account. This method applies a daily periodic rate to the principal in the account each day. Although interest accrues daily, you may not withdraw the earnings until the first business day of the following calendar month, when the same is credited into the account, provided the account is not closed. If not withdrawn, interest is added to and becomes part of the account balance. Since interest is added to your total account balance, any credited interest in the account is, effectively, compounded monthly. d. Annual Percentage Yield: The annual percentage yield earned (APYE) for the statement period will be advised with each monthly statement account. e. Withdrawals: A maximum of 6 transfers or withdrawals, or a combination of such transfers or withdrawals, are permitted during a calendar month or statement cycle of at least four weeks. For the purpose of this limit, preauthorized, automatic transfers (including but not limited to transfer from savings deposit for overdraft protection or for direct bill payments) and transfers and withdrawals initiated by telephone, facsimile, or computer and transfers made by check, debit card or other similar order made by the depositor and payable to third parties is included.

Test Case

Question: What is the purpose of the Customer Manual for Deposits?

Metric Baseline Score Current Score
answer_accuracy 0.84565759 0.84256089 (-0.00309670)
groundedness 0.86904056 0.87581735 (+0.00677679)
mean_answer_similarity 0.86828742 0.86335371 (-0.00493371)
mean_reciprocal_rank 1.00000000 1.00000000
min_answer_similarity 0.84565759 0.84256089 (-0.00309670)
model_failures 1.00000000 1.00000000
model_generation_failures 1.00000000 1.00000000
model_parse_failures 0.00000000 0.00000000
model_passes 0.00000000 0.00000000
model_retrieval_failures 0.00000000 0.00000000
precision_relevancy 0.85955343 0.85942770 (-0.00012573)
recall_relevancy 0.90039590 0.90039590
rouge_1 0.11009174 0.11475410 (+0.00466236)
rouge_2 0.00000000 0.01666667 (+0.01666667)
rouge_l 0.07339450 0.08196721 (+0.00857272)

Legend:

  • Metric : The evaluation metric name. Shown in bold red if the metric flipped between pass/fail status.
  • Baseline Score : The metric value for the baseline model. Shown in bold green if baseline won, red if lost.
  • Current Score : The metric value for the current model, followed by the delta from baseline in parentheses.
  • Delta Colors : Green = improvement, Orange = regression, Red = metric flipped to fail.
  • Winner Determination : For each metric, the winner is determined by comparing scores while considering the metric's directionality (higher is better vs. lower is better).
Baseline Result Current Result
Model claude-3-7-sonnet-20250219@h2ogpte claude-3-7-sonnet-20250219@h2ogpte
Question What is the purpose of the Customer Manual for Deposits?
Expected answer To provide information and guidelines for customers regarding their deposit accounts
Actual Answer According to the document, the "State Bank of India Customer Manual" is designed to help customers: 1. Choose a banking account, product or service to suit their needs 2. Understand the terms applicable to their banking transactions 3. Know bank rules and procedures 4. Become aware of mandatory disclosures This is explicitly stated on page 2 of the document, where the bank welcomes customers and explains the purpose of the manual. The manual contains comprehensive information about various account types, services, fees, policies, and regulatory disclosures that customers need to understand when banking with State Bank of India. According to the document, the "State Bank of India Customer Manual" is designed to help customers: 1. Choose a banking account, product or service to suit their needs 2. Understand the terms applicable to their banking transactions 3. Know bank rules and procedures 4. Become aware of mandatory disclosures This is explicitly stated in the introduction letter on page 2 of the manual, where the Chief Executive Officer of State Bank of India's New York Branch explains the purpose of the manual to customers. The manual contains comprehensive information about various account types, fees, policies, and procedures related to deposit accounts at State Bank of India's New York Branch.
Retrieved Context
• Principal: The exact sum of money deposited in an account or the amount of money borrowed. • Right of Set-Off: Right to adjust any overdue debt from any other account held singly or jointly with us. • Substitute Check: means a paper reproduction of an original check that contains an image of the front and back of the original check, bears a MICR line, and is suitable for automated processing in the same manner as the original check. 7 Privacy Notice: FACTS WHAT DOES STATE BANK OF INDIA (SBI-US) DO WITH YOUR PERSONAL INFORMATION? Why? Financial companies choose how they share your personal information. Federal law gives consumers the right to limit some but not all sharing. Federal law also requires us to tell you how we collect, share, and protect your personal information. Please read this notice carefully to understand what we do. What? The types of personal information we collect and share depend on the product or service you have with us. This information can include: Social Security number and income Account balances and payment history Assets and debt When you are no longer our customer, we continue to share your information as described in this notice.
State Bank of India New York Customer Manual for Deposits 2 Dear Customer, We thank you for choosing to bank with State Bank of India. We are pleased to present the “State Bank of India Customer Manual” to you. It has been designed to help you: • choose a banking account, product or service to suit your needs; • understand the terms applicable to your banking transactions; • know bank rules and procedures; and • become aware of mandatory disclosures. We would like you to read this booklet carefully. A summary of changes is provided on page 3 for your convenience. Should you need more information or clarification, please feel free to discuss with us. This Customer Manual is also available on our website https://sbinewyork.statebank where you can check and download the most current version. We may notify our customers of material revisions to the rules or policies and will periodically update our Customer Manual. We are sure that you will enjoy banking with us. With best wishes, Chief Executive Officer State Bank of India New York Branch New York, USA January 25th, 2024
State Bank of India New York Customer Manual for Deposits 44 decide not to agree to the terms and conditions discussed therein, you may not use Internet Banking. The Online Banking Terms of Service govern Internet Banking and supersede any inconsistent agreements or requirements. However, the terms of this Manual will govern and supersede any inconsistent statements contained in the Online Banking Terms of Service with regard to the (i) types of accounts that you may have with the Bank and the terms of those accounts; (ii) Bank’s rules governing wire transfers or international remittances including our liability to you and how we will inform you about the costs and fees and exchange rates for remittances and your ability to stop the remittance; (iii) Bank’s privacy and sharing of information policies and (iv) governing law of our agreement. Note: The customer is required to give full name (no initials) while creating recipient for the purpose of sending remittances. Thank You IMPORTANT If there is a conflict between the information stated in any Bank agreement or brochure/Manual (including this one) and something said by one of our employees, the written information will be used to resolve the conflict. The Bank may refuse to follow any instructions it believes is not permitted under law or regulation. The Manual is governed by and shall be interpreted under the laws of the State of New York. Any litigation shall be filed and heard only in the federal or state courts located in New York. State Bank of India reserves the right to change the Manual as required by law or Bank policy. Such changes may be displayed on the notice board in the Bank, posted on the website (https://sbinewyork.statebank) or advised to customers by mail. If you have any questions regarding the information provided in the Manual or your account relationship, you may contact us by mail by writing to the following address: State Bank of India DRS Department 460 Park Avenue New York Branch, NY 10022 U.S.A. Tel : General: (212)521-3200
State Bank of India New York Customer Manual for Deposits 54 k) Under no circumstances shall the Bank be liable for any damages, whatsoever whether such damages are direct, indirect, incidental, consequential and irrespective of whether any claim is based on loss of revenue, investment, production, goodwill, profit, interruption of business or any other loss of any character of nature whatsoever and whether sustained by the Card Holder or any other third party. 15. Changes in Terms: The Bank may amend this Supplement from time to time in accordance with the changes provided in the Customer Manual. 16. Termination: The Bank reserves the right to cancel or withdraw the Card or any of the other services offered at any time without assigning any reason. a) If the Card Holder closes the Account, the Card(s) issued with the Account will be void. The Card Holder(s) must immediately cease to use the Card and destroy all additional Cards. If there are outstanding Transactions pending to the Account, the same will be netted out from the balance prior to the Bank returning the funds to the Card Holder. If the Account is closed, due to any reason whatsoever, prior to debit of any outstanding Card Transactions, Card Holder is liable to refund the amount along with the interest and charges applicable from time to time.
State Bank of India New York Customer Manual for Deposits 28 • Certify: An act by which the Bank conveys that the check, so accepted, will be paid, if otherwise in order. The Bank is obligated to make payments for all checks certified by it. Your account will be debited with the amount, at the time of certifying the check. • Collateral: Any property /security pledged for use in repaying loans in case of default. • Compound/Compounding: The interest paid on the interest left behind on deposit in your account. • Consumer: A natural person who holds an account, primarily for personal, family or household purposes. • Daily Balance Method: This method applies a daily periodic rate to the principal in the account each day. • Double-Endorsed Check: A check with an endorsement in addition to the endorsement(s) of the original payee(s). • Electronic Fund Transfer: Any transfer of money initiated by electronic means to or from a bank account of a customer. • Interest Rate: This refers to the annual simple interest the account will earn. • Maturity: The end of the agreed period of time for which an account was opened (applicable to CD or loan accounts).
State Bank of India New York Customer Manual for Deposits 32 f. What Items are available on the Next Day? Direct deposits such as social security, funds received through CHIPS and Fedwire, U.S. Treasury checks, Federal Reserve Bank checks, Federal Home Loan Bank checks, U.S. Postal Money Orders, State and Local Government checks, and Travelers checks will be available on the first business day after the day of deposit, provided the checks mentioned above are made payable to the account holder. g. What about Other Check Deposits? Effective July 1, 2020 revisions to our Funds Availability Policy have been implemented in accordance with changes to federal regulation. Our policy is to make funds from your cash and check deposits available to you on the first business day after the day we receive your deposit. The amount we make available for withdrawal by checks not subject to next day availability has been revised from $200 to $225. In some cases, we will not make all the funds you deposited by check available on the first business day after the day of your deposit. Depending on the type of check deposited, funds may not be available until the second business day after the day of your deposit. The amount available for withdrawal on exception holds for large deposits, new accounts and the amount for determining a repeat overdraft have been increased from $5,000 to $5,525. Funds deposited by check of more than $5,525 on any one day may be delayed for a longer period. Please use this chart to know when your deposited funds will be available to you (Please also carefully read the exceptions following this chart): Sl.
State Bank of India New York Customer Manual for Deposits 31 individuals who are members of the general public and reside in California. Accordingly, under Section 4052(f) of the California Financial Code, the Los Angeles branch does not do business with “consumers” as defined under California law and is not subject to the California Financial Information Privacy Act. Both New York and California have laws that require SBI-US to notify you in the event that unauthorized persons obtain your personal and private information maintained on our computer system. SBI-US has procedures in place to ensure that you receive such notice in the proper circumstances. SBI-US reserves the right to change the Privacy Policy at any time, but if we do so, we will notify you in a reasonable time when any change is implemented. We will also notify you annually as required by federal law. 8. FUNDS AVAILABILITY: An understanding of funds availability will help you to manage your money more easily and avoid the inconvenience of a returned check or a withdrawal request that cannot be honored. Our policy is to make funds you deposit into your SBI account(s) available for withdrawal based upon the type of deposit or check. The funds are made available within the period of time specified by federal regulations. a. How Can You Tell When Your Deposit Will Be Available? You can use the chart in this Manual to tell when your deposit will be available. To use this chart, first read the following questions and answers. b. What is the Day of Deposit? For determining the availability of your deposits, every day is a business day except Saturdays, Sundays, and Federal holidays. If you make a deposit before 4:00 pm (cash services available until 3:00 pm EST) on a business day that we are open, we will consider that day to be the day of your deposit. If you make a deposit after that time, we will consider that the deposit was made on the next business day that we are open. c. Are You a New SBI Customer? If you have been banking with SBI for 30 days or less, you are considered a new customer and special rules apply to you regarding funds availability. d. What is the Type of Deposit? The hold period or the number of days applicable for making available the funds depends on the type of deposit you make (such as a check drawn on the Bank, a check drawn on another bank/branch, or cashier’s check). e. What Items are Available on the Same Day? Cash deposits made up to 3:00 pm and checks drawn on any US offices of the Bank and Official, Certified, Cashier's and Teller's checks will be made available on the day of the deposit into the account.
9. ELECTRONIC FUND TRANSFERS (Applicable only to Consumer Accounts) a. Applicability: This section addresses the items and conditions which apply when you authorize Electronic Funds Transfers (EFT) of Federal recurring payments such as Social Security credits (SSA, SSI checks, etc.), ACH transactions and debit card transactions to your account. These terms apply if you receive a State Bank of India, New York Branch ATM-cum- Debit Card. If you are approved, the card is forwarded to you at your registered mailing address. By activating the card, you agree to these terms and conditions. All other terms and conditions for your account, as set forth in this Manual, will also apply. An Electronic Funds Transfer means any transfer of funds started through an electronic terminal or a magnetic tape for the purpose of instructing or authorizing us to credit/ debit your account. b. Definitions: Additional terms are defined as follows: “Card” or “Debit Card” refers to the State Bank of India -- New York Branch Debit Card issued by the Bank to a Card Holder. The card issued is co-branded by MasterCard. “Card Holder” means the approved Customer who has been issued the Card and who is authorized to hold and use the Card. Card Holder is referred to as “you”, “your”, or similar pronouns. Words in
State Bank of India New York Customer Manual for Deposits 41 We may send the wire through such correspondents as appear appropriate to us in our sole discretion and we shall not be liable for their neglect or negligence. We are not under any obligation to detect errors or inconsistencies in any of your instructions. We will not be liable for any losses caused by errors or inaccuracies in your instructions. We will have the right, in our sole discretion, to reject any instructions, to set exposure limits on the amounts you may wire and impose additional conditions that must be satisfied before we will accept any instructions. i. Limits on Remittances. You will provide a statement of the purpose of the remittance. You may not transfer more than our specified maximum dollar limit in any single day. We may change any of the foregoing limits in our discretion at any time. Remittances may not be sent by us through or into any country in violation of U.S. laws. We will charge to and debit from the account identified in the instruction the amount of money specified in the instruction to be paid to the beneficiary designated therein and all fees and any costs and expenses. You must verify, prior to issuing an instruction for us to initiate a remittance, that funds are available in your account for us to initiate the remittance. If there are insufficient funds, we may, in our sole discretion: (i) execute the transaction, in which event, immediately upon our demand, you will pay to us all amounts sent and all fees and costs and expenses associated with the transfer; (ii) delay the remittance; or (iii) cancel the instruction and not complete the remittance. We will not have any liability to you or any other person for losses incurred by you or any other person when a remittance is not completed because there are not sufficient funds available. j. Limits on Liability and Indemnification. EXCEPT AS PROVIDED IN EXPRESS TERMS TO THE CONTRARY IN THIS MANUAL, THE SERVICE IS PROVIDED ON AN “AS IS”, “AS AVAILABLE” BASIS. WE MAKE NO WARRANTY, EXPRESS OR IMPLIED, TO YOU OR ANY OTHER PERSON REGARDING THE SERVICE, INCLUDING ANY WARRANTY OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE OR NONINFRINGEMENT. Subject to the limitations on our liability set forth in this Agreement, we will have liability to you for any losses you suffer or incur as a direct result of a material breach of this Agreement by us or as a direct result of our gross negligence or intentional misconduct in performing or failing to perform the Service. Our liability will be limited, however, as follows: (i) for delays in payment, our total liability to you or any person, including the beneficiary, will be limited to payment of interest for the period of delay; (ii) for non-completion of the instructions, our total liability to any person, including you, will be limited to reimbursement to such person of his or her actual out-of-pocket expenses in the funds transfer, and any actual out-of-pocket incidental expenses and interest losses; and (iii) for any other cause, the aggregate amount of the fees and charges paid by you to us for the Service during the prior 6 months. We will not be liable to you or any other person for, and you release us from liability with respect to (i) any indirect, consequential, special, incidental, exemplary or punitive damages, including loss of profits, loss of business or loss of data; or (ii) attorneys’ fees or fees of other professionals. You will fully indemnify us and hold us harmless, from and against all losses we may suffer or
State Bank of India New York Customer Manual for Deposits 11 age or older. For every additional withdrawal or check beyond above mentioned number in a statement cycle, $5 will be recovered e. Restriction on the number of credits/deposits: No restriction. f. Availability of account statement and frequency of monthly statement: Account statements at monthly intervals will be provided. 4.2 Money Market Deposit (MMD) Account This is an interest-bearing account from which withdrawals can be made in accordance with certain prescribed restrictions. Tiered interest rate is available on money market accounts based on the balances available in the account. The minimum deposit required for opening an account is the minimum daily balance requirement for the account which is tabled below. The daily minimum balances required to be maintained to avoid monthly service charges are as follows: Consumer Account Business/ Associations US Resident Customer $2,500 $50,000 Non-US Resident Customer $25,000 $ 100,000 A minimum balance service charge as listed in our “Schedule of Fees & Charges” in this Manual will be imposed every month if the balance in the account falls below the required minimum during any day of a calendar month. If the balance is less than the amount required to be deducted as service charge, the so available balance will be treated as service charges and the account may be closed forthwith, with notice to the customer at the last available address in our records. No overdraft is permitted under any circumstances in this account. Any check presented with insufficient funds will be dishonored. Service charges are listed in our “Schedule of Fees & Charges” in this Manual. A Money Market Deposit Account for Non-US Resident consumer or business/association would be opened at the sole discretion of the Bank and as per its policy, either on the same terms and conditions as for U.S- resident customers or on mutually agreed terms and conditions. Monthly service charges are listed in our “Schedule of Fees & Charges” in this Manual. Early closure fees will apply if you close your account within three months of opening. Other Features of Money Market Deposit Accounts a. Interest Rate: Tiered interest rate is available on MMD accounts based on the balances available in account. Interest rate on these accounts may vary from time to time. The Bank reserves the right to change the rate at any time. There is no limitation as to the percentage amount the interest rate may vary. You may visit our website https://sbinewyork.statebank or call (212) 521-3200 for information on the current rate of interest. b. Payment of Interest: Interest will accrue on your day-end balance. Interest earned during the month will be credited to the account at the close of business on the last business day of the month and will be made available to you on the first business day of the following month. There is no minimum balance required to earn the stated annual percentage yield. For non-cash deposits made into your account (for example checks) interest begins to accrue no later than the business day we receive credit for the deposit of the non-cash items. If the account is closed during the middle of a
State Bank of India New York Customer Manual for Deposits 12 month, accrued interest will be credited and paid. Accrued interest will be credited to your account prior to closing the same. c. Compounding Method: Your Money Market Deposit Account earn simple interest on a 360 days’ basis which accrues daily based on the end-of-the-day balance. The daily balance method will be used to calculate the interest on the account. This method applies a daily periodic rate to the principal in the account each day. Although interest accrues daily, you may not withdraw the earnings until the first business day of the following calendar month, when the same is credited into the account, provided the account is not closed. If not withdrawn, interest is added to and becomes part of the account balance. Since interest is added to your total account balance, any credited interest in the account is, effectively, compounded monthly. d. Annual Percentage Yield: The annual percentage yield earned (APYE) for the statement period will be advised with each monthly statement account. e. Withdrawals: A maximum of 6 transfers or withdrawals, or a combination of such transfers or withdrawals, are permitted during a calendar month or statement cycle of at least four weeks. For the purpose of this limit, preauthorized, automatic transfers (including but not limited to transfer from savings deposit for overdraft protection or for direct bill payments) and transfers and withdrawals initiated by telephone, facsimile, or computer and transfers made by check, debit card or other similar order made by the depositor and payable to third parties is included.
State Bank of India New York Customer Manual for Deposits 2 Dear Customer, We thank you for choosing to bank with State Bank of India. We are pleased to present the “State Bank of India Customer Manual” to you. It has been designed to help you: • choose a banking account, product or service to suit your needs; • understand the terms applicable to your banking transactions; • know bank rules and procedures; and • become aware of mandatory disclosures. We would like you to read this booklet carefully. A summary of changes is provided on page 3 for your convenience. Should you need more information or clarification, please feel free to discuss with us. This Customer Manual is also available on our website https://sbinewyork.statebank where you can check and download the most current version. We may notify our customers of material revisions to the rules or policies and will periodically update our Customer Manual. We are sure that you will enjoy banking with us. With best wishes, Chief Executive Officer State Bank of India New York Branch New York, USA January 25th, 2024
State Bank of India New York Customer Manual for Deposits 11 age or older. For every additional withdrawal or check beyond above mentioned number in a statement cycle, $5 will be recovered e. Restriction on the number of credits/deposits: No restriction. f. Availability of account statement and frequency of monthly statement: Account statements at monthly intervals will be provided. 4.2 Money Market Deposit (MMD) Account This is an interest-bearing account from which withdrawals can be made in accordance with certain prescribed restrictions. Tiered interest rate is available on money market accounts based on the balances available in the account. The minimum deposit required for opening an account is the minimum daily balance requirement for the account which is tabled below. The daily minimum balances required to be maintained to avoid monthly service charges are as follows: Consumer Account Business/ Associations US Resident Customer $2,500 $50,000 Non-US Resident Customer $25,000 $ 100,000 A minimum balance service charge as listed in our “Schedule of Fees & Charges” in this Manual will be imposed every month if the balance in the account falls below the required minimum during any day of a calendar month. If the balance is less than the amount required to be deducted as service charge, the so available balance will be treated as service charges and the account may be closed forthwith, with notice to the customer at the last available address in our records. No overdraft is permitted under any circumstances in this account. Any check presented with insufficient funds will be dishonored. Service charges are listed in our “Schedule of Fees & Charges” in this Manual. A Money Market Deposit Account for Non-US Resident consumer or business/association would be opened at the sole discretion of the Bank and as per its policy, either on the same terms and conditions as for U.S- resident customers or on mutually agreed terms and conditions. Monthly service charges are listed in our “Schedule of Fees & Charges” in this Manual. Early closure fees will apply if you close your account within three months of opening. Other Features of Money Market Deposit Accounts a. Interest Rate: Tiered interest rate is available on MMD accounts based on the balances available in account. Interest rate on these accounts may vary from time to time. The Bank reserves the right to change the rate at any time. There is no limitation as to the percentage amount the interest rate may vary. You may visit our website https://sbinewyork.statebank or call (212) 521-3200 for information on the current rate of interest. b. Payment of Interest: Interest will accrue on your day-end balance. Interest earned during the month will be credited to the account at the close of business on the last business day of the month and will be made available to you on the first business day of the following month. There is no minimum balance required to earn the stated annual percentage yield. For non-cash deposits made into your account (for example checks) interest begins to accrue no later than the business day we receive credit for the deposit of the non-cash items. If the account is closed during the middle of a
State Bank of India New York Customer Manual for Deposits 44 decide not to agree to the terms and conditions discussed therein, you may not use Internet Banking. The Online Banking Terms of Service govern Internet Banking and supersede any inconsistent agreements or requirements. However, the terms of this Manual will govern and supersede any inconsistent statements contained in the Online Banking Terms of Service with regard to the (i) types of accounts that you may have with the Bank and the terms of those accounts; (ii) Bank’s rules governing wire transfers or international remittances including our liability to you and how we will inform you about the costs and fees and exchange rates for remittances and your ability to stop the remittance; (iii) Bank’s privacy and sharing of information policies and (iv) governing law of our agreement. Note: The customer is required to give full name (no initials) while creating recipient for the purpose of sending remittances. Thank You IMPORTANT If there is a conflict between the information stated in any Bank agreement or brochure/Manual (including this one) and something said by one of our employees, the written information will be used to resolve the conflict. The Bank may refuse to follow any instructions it believes is not permitted under law or regulation. The Manual is governed by and shall be interpreted under the laws of the State of New York. Any litigation shall be filed and heard only in the federal or state courts located in New York. State Bank of India reserves the right to change the Manual as required by law or Bank policy. Such changes may be displayed on the notice board in the Bank, posted on the website (https://sbinewyork.statebank) or advised to customers by mail. If you have any questions regarding the information provided in the Manual or your account relationship, you may contact us by mail by writing to the following address: State Bank of India DRS Department 460 Park Avenue New York Branch, NY 10022 U.S.A. Tel : General: (212)521-3200
State Bank of India New York Customer Manual for Deposits 20 If you apply for a duplicate official check or a refund within 180 days of the date of the check, the Bank would require you and the payee to jointly sign an affidavit of loss and indemnity, referred to as Indemnity Agreement. You may also be required to submit a Surety Bond for twice the amount of the instrument or to place sufficient funds as security with us. After 180 days, an affidavit of loss and indemnity alone may suffice. A fee (see “Schedule of Fees & Charges”) will be charged for each stop payment request. i. Your Records: Your cancelled check(s) or substitute check(s), copies of special withdrawal form(s) and acknowledgment(s) on deposit slip(s) are your records. Paid and cancelled checks or substitute checks will be mailed with the statement of accounts to U.S. based customers. The cancelled checks or substitute checks for non-U.S. based accounts will normally be retained by the Bank. j. Statement of Account: Both Checking and Money Market Deposit Accounts are statement accounts. For all active statement accounts (that is, accounts which are not inactive or dormant as explained in Section 5.2) at least once in a calendar month, we will send a statement showing all account activities during the previous statement period. This statement will indicate your balance on the statement date and will give you an itemized, date-wise listing of all credits, all paid checks/ transfers, transactions put through using the linked debit card, interest earned, and any maintenance and service charges levied. It will also indicate the annual percentage yield earned (APYE) in effect during the period, if the account is interest bearing. All statements will be mailed to the last address known to the Bank by regular mail. For additional statements and other modes of sending statements, charges will be extra. No periodic account statements will be sent on CD accounts. Statements of Account are not available online, however, you may view the transactions online through internet banking.
State Bank of India New York Customer Manual for Deposits 25 An explanation of why the substitute check you received is insufficient to confirm that you suffered a loss; and A copy of the substitute check [and/or] the following information to help us identify the substitute check: (identifying information, for example the check number, the name of the person to whom you wrote the check, the amount of the check). [Both a legible copy of the substitute check and the details are preferred for an early response from the Bank] 5. ADDITIONAL INFORMATION ON DEPOSIT ACCOUNTS 5.1 Designation of Beneficiary We have introduced the DOB (Designation of Beneficiary) facility for individual customers. The facility is available to both existing as well as new customers. You can also designate beneficiaries for your existing accounts with us. The DOB form is available on our website https://sbinewyork.statebank. Please read the FAQ below to understand the DOB facility. a) What is the total number of beneficiaries permitted? The total number of beneficiaries will be restricted to four (4). It is Bank’s policy to accept designations where all beneficiaries have equal shares. In the event a beneficiary pre- deceases the account holder(s) the surviving beneficiaries will be entitled to equal shares of the balance of the account.
State Bank of India New York Customer Manual for Deposits 4 CONTENTS 1 State Bank of India New York Contact Information 5 2 Establishing a Relationship 6 3 Categories of Customer Accounts 7 4 Accounts of Businesses 8 5 Types of Accounts 9 6 Checking Account 9 7 Money Market Deposit Account 11 8 Certificate of Deposit 13 9 Senior Citizen Certificate of Deposit 15 10 Operations in Checking and Money Market Deposit Accounts 16 11 Mode of transactions/document submission 22 12 Important Information about Substitute Check and your rights 24 13 Additional Information on deposit Accounts 25 14 Banking Terminology 27 15 Privacy Notice 28 16 Funds Availability 31 17 Electronic Fund Transfers 34 18 Remittances 38 19 Internet Banking / YONO US Portal 43 20 Schedule of Fees and Charges 45 21 Debit Card Agreement (Annexure B) 48
State Bank of India New York Customer Manual for Deposits 32 f. What Items are available on the Next Day? Direct deposits such as social security, funds received through CHIPS and Fedwire, U.S. Treasury checks, Federal Reserve Bank checks, Federal Home Loan Bank checks, U.S. Postal Money Orders, State and Local Government checks, and Travelers checks will be available on the first business day after the day of deposit, provided the checks mentioned above are made payable to the account holder. g. What about Other Check Deposits? Effective July 1, 2020 revisions to our Funds Availability Policy have been implemented in accordance with changes to federal regulation. Our policy is to make funds from your cash and check deposits available to you on the first business day after the day we receive your deposit. The amount we make available for withdrawal by checks not subject to next day availability has been revised from $200 to $225. In some cases, we will not make all the funds you deposited by check available on the first business day after the day of your deposit. Depending on the type of check deposited, funds may not be available until the second business day after the day of your deposit. The amount available for withdrawal on exception holds for large deposits, new accounts and the amount for determining a repeat overdraft have been increased from $5,000 to $5,525. Funds deposited by check of more than $5,525 on any one day may be delayed for a longer period. Please use this chart to know when your deposited funds will be available to you (Please also carefully read the exceptions following this chart): Sl.
State Bank of India New York Customer Manual for Deposits 54 k) Under no circumstances shall the Bank be liable for any damages, whatsoever whether such damages are direct, indirect, incidental, consequential and irrespective of whether any claim is based on loss of revenue, investment, production, goodwill, profit, interruption of business or any other loss of any character of nature whatsoever and whether sustained by the Card Holder or any other third party. 15. Changes in Terms: The Bank may amend this Supplement from time to time in accordance with the changes provided in the Customer Manual. 16. Termination: The Bank reserves the right to cancel or withdraw the Card or any of the other services offered at any time without assigning any reason. a) If the Card Holder closes the Account, the Card(s) issued with the Account will be void. The Card Holder(s) must immediately cease to use the Card and destroy all additional Cards. If there are outstanding Transactions pending to the Account, the same will be netted out from the balance prior to the Bank returning the funds to the Card Holder. If the Account is closed, due to any reason whatsoever, prior to debit of any outstanding Card Transactions, Card Holder is liable to refund the amount along with the interest and charges applicable from time to time.
• Principal: The exact sum of money deposited in an account or the amount of money borrowed. • Right of Set-Off: Right to adjust any overdue debt from any other account held singly or jointly with us. • Substitute Check: means a paper reproduction of an original check that contains an image of the front and back of the original check, bears a MICR line, and is suitable for automated processing in the same manner as the original check. 7 Privacy Notice: FACTS WHAT DOES STATE BANK OF INDIA (SBI-US) DO WITH YOUR PERSONAL INFORMATION? Why? Financial companies choose how they share your personal information. Federal law gives consumers the right to limit some but not all sharing. Federal law also requires us to tell you how we collect, share, and protect your personal information. Please read this notice carefully to understand what we do. What? The types of personal information we collect and share depend on the product or service you have with us. This information can include: Social Security number and income Account balances and payment history Assets and debt When you are no longer our customer, we continue to share your information as described in this notice.

Test Case

Question: What is the minimum balance required to open a Checking Account for a US Resident business/association?

Metric Baseline Score Current Score
answer_accuracy 0.01272727 0.00979021 (-0.00293706)
groundedness 0.88987267 0.91915531 (+0.02928264)
mean_answer_similarity 0.81738809 0.81856900 (+0.00118090)
mean_reciprocal_rank 1.00000000 1.00000000
min_answer_similarity 0.77986538 0.77334399 (-0.00652139)
model_failures 0.00000000 0.00000000
model_generation_failures 0.00000000 0.00000000
model_parse_failures 0.00000000 0.00000000
model_passes 1.00000000 1.00000000
model_retrieval_failures 0.00000000 0.00000000
precision_relevancy 0.87438500 0.87386076 (-0.00052425)
recall_relevancy 0.92496557 0.92496557
rouge_1 0.04081633 0.03252033 (-0.00829600)
rouge_2 0.02083333 0.01652893 (-0.00430441)
rouge_l 0.04081633 0.03252033 (-0.00829600)

Legend:

  • Metric : The evaluation metric name. Shown in bold red if the metric flipped between pass/fail status.
  • Baseline Score : The metric value for the baseline model. Shown in bold green if baseline won, red if lost.
  • Current Score : The metric value for the current model, followed by the delta from baseline in parentheses.
  • Delta Colors : Green = improvement, Orange = regression, Red = metric flipped to fail.
  • Winner Determination : For each metric, the winner is determined by comparing scores while considering the metric's directionality (higher is better vs. lower is better).
Baseline Result Current Result
Model claude-3-7-sonnet-20250219@h2ogpte claude-3-7-sonnet-20250219@h2ogpte
Question What is the minimum balance required to open a Checking Account for a US Resident business/association?
Expected answer $20,000
Actual Answer According to the document, the minimum balance required to open a Checking Account for a US Resident business/association is $20,000. This information is found on page 10 of the State Bank of India New York Customer Manual for Deposits, which states that for Checking Accounts, the minimum daily balance requirement for US Resident Business/Associations is $20,000. If the balance falls below this minimum on any day of the month, a monthly service charge of $50 will be imposed, as shown in the Schedule of Fees & Charges on page 45 of the document. According to the document, the minimum balance required to open a Checking Account for a US Resident business/association is $20,000. This information is found on page 10 of the "Customer Manual for Deposits" from State Bank of India New York, which states: "The daily minimum balance required to be maintained to avoid monthly service charges are as follows:" and then shows a table where for "Business/Associations" under "US Resident" the amount is listed as "$20,000". This minimum balance requirement helps customers avoid the monthly service charge of $50 that would be applied if the balance falls below this minimum on any day of the month, as indicated in the Schedule of Fees & Charges section on page 45.
Retrieved Context
State Bank of India New York Customer Manual for Deposits 45 B. Service Fees & Charges Consumer Accounts Accounts of Business/ Associations Excess Transaction charges – Each transaction in Money Market Accounts in excess of 6 transfers or withdrawals or a combination of these in a statement period. $5 $5 Checks returned or paid against insufficient or unavailable funds # $10 $15 SCHEDULE OF FEES & CHARGES Minimum Balance Requirements & Service Charges Checking Account Money Market Account Consumer A/C Business/Associations Consumer A/c Business/Associations USA Resident Minimum daily balance 1,000 $ 20,000 $2,500 $ 50,000 Monthly service charge (if the balance falls below minimum on any day of the month) $15* (effective 01/01/2020) $ 50 $20* (effective 01/01/2020) $ 50 Non-USA Resident Minimum daily balance Opened at the sole discretion of the Bank and as per its Policy. Minimum balance is $10,000 Opened at the sole discretion of the Bank and as per its Policy. Minimum balance is $ 50,000 Opened at the sole discretion of the Bank and as per its Policy. Minimum balance is $ 25,000 Opened at the sole discretion of the Bank and as per its Policy. Minimum balance is $ 100,000 Monthly service charge (if the balance falls below minimum on any day of the month) $20* (effective 01/01/2020) $50 $25* (effective 01/01/2020) $50 Note : Consumer accounts = Accounts of natural persons
State Bank of India New York Customer Manual for Deposits 7 Bank to open the account. h) If you reside outside the United States and desire to open an account, you should send photocopies of passports duly attested by the Indian Embassy/High Commission of India or by a branch of State Bank of India. i) If you are a corporation or foreign partnership and desire to open an account in that name, the requirements may vary as detailed under ‘Accounts of Businesses’ listed under item 3. j) Individuals should apply on form DEP-1 and non-individuals should apply on form DEP-3. These forms contain a check-list of documents required and formalities to be completed for opening of accounts. Existing account holders wishing to open additional CDs should apply on form DEP-CD. k) Bank reserves the right to ask for additional documents on a case to case basis. l) In the event that we are unable to verify your address upon account opening, we will send you a letter through USPS certified mail/FedEx with a return acknowledgement receipt to confirm the address. In the event that the acknowledgement receipt is not returned to us within thirty (30) days from the account opening date, we may close the account.
State Bank of India New York Customer Manual for Deposits 11 age or older. For every additional withdrawal or check beyond above mentioned number in a statement cycle, $5 will be recovered e. Restriction on the number of credits/deposits: No restriction. f. Availability of account statement and frequency of monthly statement: Account statements at monthly intervals will be provided. 4.2 Money Market Deposit (MMD) Account This is an interest-bearing account from which withdrawals can be made in accordance with certain prescribed restrictions. Tiered interest rate is available on money market accounts based on the balances available in the account. The minimum deposit required for opening an account is the minimum daily balance requirement for the account which is tabled below. The daily minimum balances required to be maintained to avoid monthly service charges are as follows: Consumer Account Business/ Associations US Resident Customer $2,500 $50,000 Non-US Resident Customer $25,000 $ 100,000 A minimum balance service charge as listed in our “Schedule of Fees & Charges” in this Manual will be imposed every month if the balance in the account falls below the required minimum during any day of a calendar month. If the balance is less than the amount required to be deducted as service charge, the so available balance will be treated as service charges and the account may be closed forthwith, with notice to the customer at the last available address in our records. No overdraft is permitted under any circumstances in this account. Any check presented with insufficient funds will be dishonored. Service charges are listed in our “Schedule of Fees & Charges” in this Manual. A Money Market Deposit Account for Non-US Resident consumer or business/association would be opened at the sole discretion of the Bank and as per its policy, either on the same terms and conditions as for U.S- resident customers or on mutually agreed terms and conditions. Monthly service charges are listed in our “Schedule of Fees & Charges” in this Manual. Early closure fees will apply if you close your account within three months of opening. Other Features of Money Market Deposit Accounts a. Interest Rate: Tiered interest rate is available on MMD accounts based on the balances available in account. Interest rate on these accounts may vary from time to time. The Bank reserves the right to change the rate at any time. There is no limitation as to the percentage amount the interest rate may vary. You may visit our website https://sbinewyork.statebank or call (212) 521-3200 for information on the current rate of interest. b. Payment of Interest: Interest will accrue on your day-end balance. Interest earned during the month will be credited to the account at the close of business on the last business day of the month and will be made available to you on the first business day of the following month. There is no minimum balance required to earn the stated annual percentage yield. For non-cash deposits made into your account (for example checks) interest begins to accrue no later than the business day we receive credit for the deposit of the non-cash items. If the account is closed during the middle of a
State Bank of India New York Customer Manual for Deposits 10 Consumer Account Business/ Associations US Resident $1,000 $20,000 Non- US Resident $10,000 $50,000 A minimum balance service charge as listed in our “Schedule of Fees & Charges” in this Manual will be imposed every month if the balance in the account falls below the required minimum during any day of a calendar month. If the balance is less than the amount required to be deducted as a service charge, the available balance will be treated as service charges and the account may be closed forthwith, with notice to the customer at the last available address in our records. A checking account for a Non US resident consumer or business/association will be opened at the sole discretion of the Bank and as per its policy, either on the same terms and conditions as for U.S.-resident customers or on separate terms and conditions. No overdraft is permitted under any circumstances in this account. Any check presented with insufficient funds will be dishonored. Service charges are listed in our “Schedule of Fees & Charges” in this Manual. Early closure fees will apply if you close your account within three months of opening. The Bank will provide a statement of account at monthly intervals. 4.1.1 Basic Checking Account In order to provide low cost banking services, we offer “basic banking” checking accounts to all consumers who fulfill the following requirements: • Residents of New York State. • The consumer is required to close all other transaction accounts with our Bank or any other banking institution and will be given a period of 60 days (from the date the basic banking account is opened) to do so. If other transaction account/s is/are not closed within 60 days, the said basic checking account shall be closed by the Bank. • Receive direct credit of a recurring payment such as Social Security, wages or pension payments. • Have limited monthly transactions. • Desire basic checking services. Salient Features of Basic Checking Accounts a. Minimum deposit to open the account: $25. b. Minimum monthly balance required to be maintained: No minimum balance. c. Monthly maintenance fee: i) Nil, if the daily balance is $500 or more. ii) Otherwise $3 per month.
State Bank of India New York Customer Manual for Deposits 3 ANNEXURE A CUSTOMER MANUAL 2024: SCHEDULE OF CHANGES Page Previous Version Current Version 10 Basic Checking Account In order to provide low cost banking services, we offer “basic banking” checking accounts to all consumers who fulfill the following requirements: • Residents of New York State who do not maintain any transaction account with the Bank. Basic Checking Account In order to provide low cost banking services, we offer “basic banking” checking accounts to all consumers who fulfill the following requirements: •Residents of New York State. •The consumer is required to close all other transaction accounts with our Bank or any other banking institution and will be given a period of 60 days (from the date the basic banking account is opened) to do so. If other transaction account/s is/are not closed within 60 days, the said basic checking account shall be closed by the Bank. 21 Change of Address, e-mail address, telephone number and account details: Bank may ask you to update your account information through remediation form as and when there is any material change, or whenever bank requires. If this information is not provided within a reasonable time (30 days), the Bank may decide to decline further transactions in the account and may also close the account if not received the same in 60 days.
State Bank of India New York Customer Manual for Deposits 8 age of 18 years after which the minor should be given full authority to operate the account. 3. ACCOUNTS OF BUSINESSES 3.1 Corporate Accounts To establish a corporate account, the Bank requires among other information/documents the following:  A copy of the Certificate of Incorporation with proof of filing  Articles of Incorporation or Association.  Proof of Business Address.  Certificate of Beneficial owners, wherever applicable.  For a corporation registered / incorporated in India, Reserve Bank of India approval for opening the account, wherever applicable, is also required.  A copy of corporate resolution adopted by the Board of Directors of the corporation authorizing:  opening of the account and stating the person(s) who can do so;  Identification of the persons who can operate the account; and  Extent of powers vested in these official(s) including instructions regarding restrictions on operation (e.g., whether the account is to be operated singly or jointly and the extent to which each signatory could sign checks or other debit authority and/or apply for credits on behalf of the corporation).  Government issued photo identification of all of the authorized signatories, beneficial owners, controlling officials. If such signatories are US residents, SSN is also required.
State Bank of India New York Customer Manual for Deposits 30 offices are collectively referred to as SBI-US in this Notice. What we do How does SBI–US protect my personal information? To protect your personal information from unauthorized access and use, we use security measures that comply with federal law. SBI-US has established physical, technological and procedural systems and controls for protecting the confidentiality of your personal information. SBI-US employees undergo training on protecting customer information. How does SBI–US collect my personal information? We collect your personal information, for example, when you Open an account or deposit money Pay your bills or apply for a loan Use your credit or debit card We also collect your personal information from credit bureaus. Why can't I limit all sharing? Federal law gives you the right to limit only Sharing for affiliates’ everyday business purposes- information about your creditworthiness Affiliates from using your information to market to you Sharing for non-affiliates to market to you State laws and individual companies may give you additional rights to limit sharing. See below for more on your rights under state law.
State Bank of India New York Customer Manual for Deposits 46 Deposited checks returned unpaid # $10 $10 Closing of Checking or Money Market account within 3 months of opening $25 $25 Listing of Stop Payment request valid for 6 months per check, per ACH debit or debit card preauthorized transfers stopped (maximum $50 at one time) $15 $15 Stop Check Request through YONO US Portal (Min. 1 leaf Max: 10 leaves within same range) $15 for one leaf $30 for 2 leaves $45 for 3 leaves $50 for 4-10 leaves Not Applicable Cancellation of Stop Payment request per check, ACH debit or debit card preauthorized transfers stopped $15 $15 Expedited Delivery of Debit Card Actual cost charged by the service provider -- Per item charge for copy of paid checks/deposited checks, withdrawals or tickets - For current calendar year - For previous calendar year - For other years (up to 5 previous years) *per preceding year beyond previous year $5 $10 $15 * $5 $10 $15 * Charges per page of account statements - For current calendar year - For previous calendar year - For all other years (up to 5 previous years) *per preceding year beyond previous year $5 $10 $15 * $5 $10 $15 * Transfer of funds from Checking to MMD or vice-versa (per transfer) / between two accounts Manual transfer Online transfer $5 Free $5 Free Credit reference $10 $10 Issue of local official checks/certified checks $10 $10 Cash handling charges (per thousand or part thereof after first $1000 deposit in a day) NIL for less than $1000 $2 $2
State Bank of India New York Customer Manual for Deposits 57 charges applicable from time to time. The Bank shall be entitled to terminate the Card with immediate effect without notice and the Card shall be returned upon the occurrence of any of the following events: 1. Card Holders Holder’s failure to comply with the terms and conditions herein. 2. The Card Holder’s default under an agreement or commitment entered into with the Bank. 3. The Card Holder becomes the subject of any bankruptcy, insolvency proceedings or proceedings of the similar nature. 4. Demise of the Cardholder. 5. Failure to maintain minimum required balance to cover transactions.
State Bank of India New York Customer Manual for Deposits 33 3. All checks other than those in item 1&2 $ 225 or the amount of the check, whichever is less on 1st business day after deposit day. Tuesday Balance or $5300 whichever is less on 2nd business day after day of deposit. Wednesday Balance, if any, on 3rd business day after day of deposit. Thursday 4 ACH deposits initiated through Internet Banking 4th working day from date of initiation of ACH transfer (if initiated before 4:00 pm ET) Thursday at 3:00 pm ET Note: If you deposit multiple checks from item 3 above on the same day aggregating more than $225, only $225 will be made available in the checking account on the first business day after the day of deposit and not $225 from each check. h. Exceptions to the Availability Schedules in the Chart New Accounts: For the first 30 calendar days after your account has been opened, any check covered by item 3 of the chart will be available to you on the 8th business day after the day of the deposit. Other Exceptions: Funds availability in respect of item 3 of the chart may be delayed beyond the time periods specified for their normal availability for any of the following reasons:  If you redeposit a check that has been returned unpaid for insufficient funds.  If you deposit checks totaling more than $5,525 on any one business day. This exception can also be invoked for checks covered in item 2 of the chart.
State Bank of India New York Customer Manual for Deposits 45 B. Service Fees & Charges Consumer Accounts Accounts of Business/ Associations Excess Transaction charges – Each transaction in Money Market Accounts in excess of 6 transfers or withdrawals or a combination of these in a statement period. $5 $5 Checks returned or paid against insufficient or unavailable funds # $10 $15 SCHEDULE OF FEES & CHARGES Minimum Balance Requirements & Service Charges Checking Account Money Market Account Consumer A/C Business/Associations Consumer A/c Business/Associations USA Resident Minimum daily balance 1,000 $ 20,000 $2,500 $ 50,000 Monthly service charge (if the balance falls below minimum on any day of the month) $15* (effective 01/01/2020) $ 50 $20* (effective 01/01/2020) $ 50 Non-USA Resident Minimum daily balance Opened at the sole discretion of the Bank and as per its Policy. Minimum balance is $10,000 Opened at the sole discretion of the Bank and as per its Policy. Minimum balance is $ 50,000 Opened at the sole discretion of the Bank and as per its Policy. Minimum balance is $ 25,000 Opened at the sole discretion of the Bank and as per its Policy. Minimum balance is $ 100,000 Monthly service charge (if the balance falls below minimum on any day of the month) $20* (effective 01/01/2020) $50 $25* (effective 01/01/2020) $50 Note : Consumer accounts = Accounts of natural persons
State Bank of India New York Customer Manual for Deposits 46 Deposited checks returned unpaid # $10 $10 Closing of Checking or Money Market account within 3 months of opening $25 $25 Listing of Stop Payment request valid for 6 months per check, per ACH debit or debit card preauthorized transfers stopped (maximum $50 at one time) $15 $15 Stop Check Request through YONO US Portal (Min. 1 leaf Max: 10 leaves within same range) $15 for one leaf $30 for 2 leaves $45 for 3 leaves $50 for 4-10 leaves Not Applicable Cancellation of Stop Payment request per check, ACH debit or debit card preauthorized transfers stopped $15 $15 Expedited Delivery of Debit Card Actual cost charged by the service provider -- Per item charge for copy of paid checks/deposited checks, withdrawals or tickets - For current calendar year - For previous calendar year - For other years (up to 5 previous years) *per preceding year beyond previous year $5 $10 $15 * $5 $10 $15 * Charges per page of account statements - For current calendar year - For previous calendar year - For all other years (up to 5 previous years) *per preceding year beyond previous year $5 $10 $15 * $5 $10 $15 * Transfer of funds from Checking to MMD or vice-versa (per transfer) / between two accounts Manual transfer Online transfer $5 Free $5 Free Credit reference $10 $10 Issue of local official checks/certified checks $10 $10 Cash handling charges (per thousand or part thereof after first $1000 deposit in a day) NIL for less than $1000 $2 $2
State Bank of India New York Customer Manual for Deposits 7 Bank to open the account. h) If you reside outside the United States and desire to open an account, you should send photocopies of passports duly attested by the Indian Embassy/High Commission of India or by a branch of State Bank of India. i) If you are a corporation or foreign partnership and desire to open an account in that name, the requirements may vary as detailed under ‘Accounts of Businesses’ listed under item 3. j) Individuals should apply on form DEP-1 and non-individuals should apply on form DEP-3. These forms contain a check-list of documents required and formalities to be completed for opening of accounts. Existing account holders wishing to open additional CDs should apply on form DEP-CD. k) Bank reserves the right to ask for additional documents on a case to case basis. l) In the event that we are unable to verify your address upon account opening, we will send you a letter through USPS certified mail/FedEx with a return acknowledgement receipt to confirm the address. In the event that the acknowledgement receipt is not returned to us within thirty (30) days from the account opening date, we may close the account.
State Bank of India New York Customer Manual for Deposits 30 offices are collectively referred to as SBI-US in this Notice. What we do How does SBI–US protect my personal information? To protect your personal information from unauthorized access and use, we use security measures that comply with federal law. SBI-US has established physical, technological and procedural systems and controls for protecting the confidentiality of your personal information. SBI-US employees undergo training on protecting customer information. How does SBI–US collect my personal information? We collect your personal information, for example, when you Open an account or deposit money Pay your bills or apply for a loan Use your credit or debit card We also collect your personal information from credit bureaus. Why can't I limit all sharing? Federal law gives you the right to limit only Sharing for affiliates’ everyday business purposes- information about your creditworthiness Affiliates from using your information to market to you Sharing for non-affiliates to market to you State laws and individual companies may give you additional rights to limit sharing. See below for more on your rights under state law.
State Bank of India New York Customer Manual for Deposits 8 age of 18 years after which the minor should be given full authority to operate the account. 3. ACCOUNTS OF BUSINESSES 3.1 Corporate Accounts To establish a corporate account, the Bank requires among other information/documents the following:  A copy of the Certificate of Incorporation with proof of filing  Articles of Incorporation or Association.  Proof of Business Address.  Certificate of Beneficial owners, wherever applicable.  For a corporation registered / incorporated in India, Reserve Bank of India approval for opening the account, wherever applicable, is also required.  A copy of corporate resolution adopted by the Board of Directors of the corporation authorizing:  opening of the account and stating the person(s) who can do so;  Identification of the persons who can operate the account; and  Extent of powers vested in these official(s) including instructions regarding restrictions on operation (e.g., whether the account is to be operated singly or jointly and the extent to which each signatory could sign checks or other debit authority and/or apply for credits on behalf of the corporation).  Government issued photo identification of all of the authorized signatories, beneficial owners, controlling officials. If such signatories are US residents, SSN is also required.
State Bank of India New York Customer Manual for Deposits 10 Consumer Account Business/ Associations US Resident $1,000 $20,000 Non- US Resident $10,000 $50,000 A minimum balance service charge as listed in our “Schedule of Fees & Charges” in this Manual will be imposed every month if the balance in the account falls below the required minimum during any day of a calendar month. If the balance is less than the amount required to be deducted as a service charge, the available balance will be treated as service charges and the account may be closed forthwith, with notice to the customer at the last available address in our records. A checking account for a Non US resident consumer or business/association will be opened at the sole discretion of the Bank and as per its policy, either on the same terms and conditions as for U.S.-resident customers or on separate terms and conditions. No overdraft is permitted under any circumstances in this account. Any check presented with insufficient funds will be dishonored. Service charges are listed in our “Schedule of Fees & Charges” in this Manual. Early closure fees will apply if you close your account within three months of opening. The Bank will provide a statement of account at monthly intervals. 4.1.1 Basic Checking Account In order to provide low cost banking services, we offer “basic banking” checking accounts to all consumers who fulfill the following requirements: • Residents of New York State. • The consumer is required to close all other transaction accounts with our Bank or any other banking institution and will be given a period of 60 days (from the date the basic banking account is opened) to do so. If other transaction account/s is/are not closed within 60 days, the said basic checking account shall be closed by the Bank. • Receive direct credit of a recurring payment such as Social Security, wages or pension payments. • Have limited monthly transactions. • Desire basic checking services. Salient Features of Basic Checking Accounts a. Minimum deposit to open the account: $25. b. Minimum monthly balance required to be maintained: No minimum balance. c. Monthly maintenance fee: i) Nil, if the daily balance is $500 or more. ii) Otherwise $3 per month.
State Bank of India New York Customer Manual for Deposits 11 age or older. For every additional withdrawal or check beyond above mentioned number in a statement cycle, $5 will be recovered e. Restriction on the number of credits/deposits: No restriction. f. Availability of account statement and frequency of monthly statement: Account statements at monthly intervals will be provided. 4.2 Money Market Deposit (MMD) Account This is an interest-bearing account from which withdrawals can be made in accordance with certain prescribed restrictions. Tiered interest rate is available on money market accounts based on the balances available in the account. The minimum deposit required for opening an account is the minimum daily balance requirement for the account which is tabled below. The daily minimum balances required to be maintained to avoid monthly service charges are as follows: Consumer Account Business/ Associations US Resident Customer $2,500 $50,000 Non-US Resident Customer $25,000 $ 100,000 A minimum balance service charge as listed in our “Schedule of Fees & Charges” in this Manual will be imposed every month if the balance in the account falls below the required minimum during any day of a calendar month. If the balance is less than the amount required to be deducted as service charge, the so available balance will be treated as service charges and the account may be closed forthwith, with notice to the customer at the last available address in our records. No overdraft is permitted under any circumstances in this account. Any check presented with insufficient funds will be dishonored. Service charges are listed in our “Schedule of Fees & Charges” in this Manual. A Money Market Deposit Account for Non-US Resident consumer or business/association would be opened at the sole discretion of the Bank and as per its policy, either on the same terms and conditions as for U.S- resident customers or on mutually agreed terms and conditions. Monthly service charges are listed in our “Schedule of Fees & Charges” in this Manual. Early closure fees will apply if you close your account within three months of opening. Other Features of Money Market Deposit Accounts a. Interest Rate: Tiered interest rate is available on MMD accounts based on the balances available in account. Interest rate on these accounts may vary from time to time. The Bank reserves the right to change the rate at any time. There is no limitation as to the percentage amount the interest rate may vary. You may visit our website https://sbinewyork.statebank or call (212) 521-3200 for information on the current rate of interest. b. Payment of Interest: Interest will accrue on your day-end balance. Interest earned during the month will be credited to the account at the close of business on the last business day of the month and will be made available to you on the first business day of the following month. There is no minimum balance required to earn the stated annual percentage yield. For non-cash deposits made into your account (for example checks) interest begins to accrue no later than the business day we receive credit for the deposit of the non-cash items. If the account is closed during the middle of a
State Bank of India New York Customer Manual for Deposits 21 l. Charges: We reserve the right to charge your account in accordance with the “Schedule of Fees & Charges” in circumstances such as, but not limited to, the following: • If a check deposited by you has been returned unpaid. • If there are insufficient funds in your account to cover a check you have issued. • If you use a service that involves a fee or a charge, e.g., issue of official checks or recovery of charges by a bank through which a wire transfer has been sent. • If there is a monthly service charge due to non-maintenance of minimum balance. • If we are required to comply with any legal process in connection with your account. • If you desire stop payment of a check. • If a postdated check written by you has been returned unpaid. • If we confirm the balance in your account to a third party under your authorization. • If you desire us to furnish credit information related to your account. • If you desire copies of your records. • If you give us a standing instruction. The Bank will not be responsible if it refuses to pay a check you have issued if there are not enough funds in the account after we have deducted a service charge.
State Bank of India New York Customer Manual for Deposits 57 charges applicable from time to time. The Bank shall be entitled to terminate the Card with immediate effect without notice and the Card shall be returned upon the occurrence of any of the following events: 1. Card Holders Holder’s failure to comply with the terms and conditions herein. 2. The Card Holder’s default under an agreement or commitment entered into with the Bank. 3. The Card Holder becomes the subject of any bankruptcy, insolvency proceedings or proceedings of the similar nature. 4. Demise of the Cardholder. 5. Failure to maintain minimum required balance to cover transactions.
State Bank of India New York Customer Manual for Deposits 3 ANNEXURE A CUSTOMER MANUAL 2024: SCHEDULE OF CHANGES Page Previous Version Current Version 10 Basic Checking Account In order to provide low cost banking services, we offer “basic banking” checking accounts to all consumers who fulfill the following requirements: • Residents of New York State who do not maintain any transaction account with the Bank. Basic Checking Account In order to provide low cost banking services, we offer “basic banking” checking accounts to all consumers who fulfill the following requirements: •Residents of New York State. •The consumer is required to close all other transaction accounts with our Bank or any other banking institution and will be given a period of 60 days (from the date the basic banking account is opened) to do so. If other transaction account/s is/are not closed within 60 days, the said basic checking account shall be closed by the Bank. 21 Change of Address, e-mail address, telephone number and account details: Bank may ask you to update your account information through remediation form as and when there is any material change, or whenever bank requires. If this information is not provided within a reasonable time (30 days), the Bank may decide to decline further transactions in the account and may also close the account if not received the same in 60 days.

Test Case

Question: What is the minimum amount required for each CD for US resident depositors?

Metric Baseline Score Current Score
answer_accuracy 0.84662830 0.84066641 (-0.00596189)
groundedness 0.93071407 0.89616590 (-0.03454817)
mean_answer_similarity 0.86088681 0.85489982 (-0.00598699)
mean_reciprocal_rank 1.00000000 1.00000000
min_answer_similarity 0.84662830 0.84066641 (-0.00596189)
model_failures 0.00000000 0.00000000
model_generation_failures 0.00000000 0.00000000
model_parse_failures 0.00000000 0.00000000
model_passes 1.00000000 1.00000000
model_retrieval_failures 0.00000000 0.00000000
precision_relevancy 0.87700046 0.87377402 (-0.00322644)
recall_relevancy 0.93943059 0.93943059
rouge_1 0.21818182 0.23300971 (+0.01482789)
rouge_2 0.12962963 0.15841584 (+0.02878621)
rouge_l 0.14545455 0.17475728 (+0.02930274)

Legend:

  • Metric : The evaluation metric name. Shown in bold red if the metric flipped between pass/fail status.
  • Baseline Score : The metric value for the baseline model. Shown in bold green if baseline won, red if lost.
  • Current Score : The metric value for the current model, followed by the delta from baseline in parentheses.
  • Delta Colors : Green = improvement, Orange = regression, Red = metric flipped to fail.
  • Winner Determination : For each metric, the winner is determined by comparing scores while considering the metric's directionality (higher is better vs. lower is better).
Baseline Result Current Result
Model claude-3-7-sonnet-20250219@h2ogpte claude-3-7-sonnet-20250219@h2ogpte
Question What is the minimum amount required for each CD for US resident depositors?
Expected answer $5,000 for consumer accounts and $10,000 for accounts of businesses
Actual Answer According to the document, the minimum amount required for each CD for US resident depositors varies depending on whether it's a consumer account or a business account. As stated on page 14 of the Customer Manual for Deposits, the minimum amount required for each CD for US resident consumer accounts is $5,000, while for accounts of businesses, it is $10,000. For the Senior Citizen Certificate of Deposit, which is a product variant specifically for customers aged 60 years and above, the minimum amount required is $25,000 as mentioned on page 15 of the manual. According to the document, the minimum amount required for each CD varies for US resident depositors and those based outside the USA, as well as between consumer accounts and business accounts. For US resident depositors, the minimum amounts are: - For consumer accounts: $5,000 (as shown on page 14) - For accounts of businesses: $10,000 (as shown on page 14) For Senior Citizen Certificate of Deposit, which is a product variant specifically for customers aged 60 years and above, the minimum amount required is $25,000 (as shown on page 15).
Retrieved Context
d. Minimum Balance Requirement: The minimum amount required for each CD will be USD 25,000. There is no maximum limit under the product. e. Early Withdrawal Penalty: All premature withdrawals incur a penalty as mentioned below. Partial withdrawal is not permitted.
a. Interest Rate: The interest rate earned on a Senior Citizen Certificate of Deposit will earn fixed rate for the term of the CD. This rate is determined by the Bank, based on market conditions, at the time the account is opened or renewed. For current rate information, you may visit our website https://sbinewyork.statebank or call (212) 521-3390 b. Annual Percentage Yield (APY): Senior Citizen Certificate of Deposit is offered on simple interest (also called non-cumulative interest) and compound interest (also called cumulative interest) basis, depending upon your choice. In case of simple interest, the Annual Percentage Rate(APR) and Annual Percentage Yield would be the same. In case of compound interest, APY measures the total amount of interest paid on the account in a year based on the interest rate and the frequency of compounding is quarterly. The interest is calculated on a 365 days basis. c. Compounding Period/Payment of Interest: If you choose to receive simple interest (non- cumulative) on your CD, you may opt to withdraw the interest at monthly/quarterly/half-yearly intervals, at the time of opening or renewing the CD. If you choose to receive compounded interest on your CD, interest will be compounded at quarterly intervals and will be paid along with the principal at the time of maturity.
• Principal: The exact sum of money deposited in an account or the amount of money borrowed. • Right of Set-Off: Right to adjust any overdue debt from any other account held singly or jointly with us. • Substitute Check: means a paper reproduction of an original check that contains an image of the front and back of the original check, bears a MICR line, and is suitable for automated processing in the same manner as the original check. 7 Privacy Notice: FACTS WHAT DOES STATE BANK OF INDIA (SBI-US) DO WITH YOUR PERSONAL INFORMATION? Why? Financial companies choose how they share your personal information. Federal law gives consumers the right to limit some but not all sharing. Federal law also requires us to tell you how we collect, share, and protect your personal information. Please read this notice carefully to understand what we do. What? The types of personal information we collect and share depend on the product or service you have with us. This information can include: Social Security number and income Account balances and payment history Assets and debt When you are no longer our customer, we continue to share your information as described in this notice.
3.5 Limited Liability Company (“LLC”) The following documents are required:  The LLC’s organizational documents (Articles of Organization and Operating Agreement)  The names of all the members and managers of the LLC shall be provided with all the same identification as required for corporations above.  A certified copy of a resolution of the Managers of the LLC providing all the same information required in the corporate resolution set forth above.  Certificate of Beneficial owners, wherever applicable. 4. TYPES OF ACCOUNTS Three types of deposit accounts may be opened:  Checking Account  Money Market Deposit (MMD) Account  Certificate of Deposit (CD) Account 4.1 Checking Account This is a non-interest bearing account with no restrictions on the number of withdrawals or credits. However, Bank has the discretion to pay interest on a product variant. The minimum deposit required for opening an account is the minimum daily balance requirement for the account which is tabled below. The daily minimum balance required to be maintained to avoid monthly service charges are as follows:
d. Interest Payment Method: When opening the CD, you may opt to receive the periodic interest payments by any one of the following: • Through ACH/Wire transfer to your designated bank account • By an official check through regular mail • In your Checking or Money Market Deposit Account with us. If you opt to receive compounded interest (cumulative), we will pay you interest along with the principal at the time of maturity of the CD. e. Minimum Balance Requirement: The minimum amount required for each CD may vary for US resident depositors and those based outside the USA. It may also vary for consumer and accounts of businesses. Currently, the following are the minimum balances:
CATEGORIES OF CONSUMER ACCOUNTS A. Individual Accounts These are opened in the name of one person who is the only party who may authorize transactions in the account. B. Joint Accounts shall be opened with right of Survivorship Only : These are opened when two or more persons desire to have a common or joint account. These can be operated:  jointly by all the persons with right of survivorship only;  by any one of them;  In the event of death of any of the joint account holders, the balance will be available to the surviving account holder(s). All account holders must sign the application and specimen signature card. The Bank reserves the right to freeze or suspend the account if:  It receives a letter from any one of the account holders objecting to further transactions, or  It is made aware of a dispute.  In such an eventuality, all account holders will have to sign any instruction to the Bank. The Bank shall have the right to set off all funds in the account against any overdue debt, or to satisfy a judgment against any one of the joint account holders. C. Accounts in the Names of Minors (Only CD accounts are permitted) • Accounts can only be opened on behalf of minors by parents/natural guardian/a person appointed by the court. • These accounts are subject to New York Uniform Gifts to Minors Act under which the gift is irrevocable. • The SSN of the trustee or guardian and the minor is required on the application. • The guardian operates the account for the benefit of the minor until the latter attains the
State Bank of India New York Customer Manual for Deposits 14 Type US Resident Non-US Resident Consumer accounts $5,000 $10,000 Accounts of Businesses $10,000 $10,000 f. Early Withdrawal Penalty: The principal amount of CD cannot usually be withdrawn before the maturity date, unless the Bank consents to the withdrawal as a special case. We may require that all holders of a joint account authorize a premature withdrawal of the principal from a CD account. Partial withdrawal is not permitted. The penalty for early withdrawals of CD is as follows: Term of Deposit No of Days for which Interest will be recovered 14 days 14 days 1 month to less than 1 year 30 days 1 year to less than 3 years 60 days 3 years to less than 5 years 120 days 5 years & over 180 days The penalty will be calculated at the same interest rate of the deposit. A penalty will not be charged if the premature withdrawal is caused by the death of the depositor or if the depositor is declared legally incompetent. g. Principal Protection: SBI New York Certificate of Deposit comes with “Principal Protection” feature. The penalty for early withdrawal would be limited up to the amount of interest paid / payable and will not result in reduction of the amount originally deposited. h. Renewal: If your CD is for a term of more than 30 days, we will send you a maturity notice not less than 14 days and not more than 30 days prior to the maturity date. No maturity notice will be sent for Certificate of Deposit with term of 30 days or less.
State Bank of India New York Customer Manual for Deposits 15 CDs that were automatically renewed have a ten-calendar-day grace period (including the date of maturity). During the grace period, you may withdraw the amount of your deposit without incurring a premature withdrawal penalty. However, no interest will be paid from the date of maturity until the date of such withdrawal. If you choose to renew your deposit, during this grace period of 10 days, from a date later than the date of maturity, no interest will be paid from the date of maturity until the date of such renewal. Please, however, note that written instructions for withdrawal should be received by us within the grace period. The instructions will be accepted through Secured Messaging on Internet Banking Portal/Mail/In person visits to the Bank. CDs that mature on Saturdays, Sundays or Federal holidays will be available for withdrawal on the next business day and interest will be paid until the maturity date. CDs may not be negotiated or transferred to another individual or corporation. 4.3.1 Senior Citizen Certificate of Deposit This is a product variant of certificate of deposit specifically available to customers who are aged 60 years and above. These accounts can be either opened as Single or Joint deposits. In case of joint accounts, the primary account holder should meet the age eligibility criteria. We offer Senior Citizen CD with maturities from 1 year to 5 years. The product is available to US Citizens, Permanent Residents and Resident Aliens. In case of joint accounts, all the customers should be US Citizens, Permanent Residents or Resident aliens.
State Bank of India New York Customer Manual for Deposits 26 5.2 Inactive Accounts / Dormant Accounts An account in which there has been no transaction for 2 years is considered inactive and an account in which there has been no transaction for 3 years is considered dormant. An account in which there has been no activity or written correspondence from the account holder for three consecutive years is considered an abandoned property under New York State Law. This period may vary for other states in the United States. For any account that is owned by residents of other states, the state law may require escheatment of abandoned property in accordance with its own reporting requirements. For non-U.S. customers, New York State Law will apply. No debits are permitted in inactive/ dormant accounts unless the account is activated by the customer. The process of account activation is given below: You are required to submit signed Customer Information Update form for activating inactive/dormant accounts. All activation requests should be accompanied with valid ID document, address proof and relevant documents. Account activation requests may be submitted in Branch, mail or sending signed request through online banking application. Upon receipt of your request, we will call your registered number to confirm the details given in your request. In case we are unable to reach you we will put your request on hold and inform you through email. Incomplete requests, requests received without requisite documents will not be accepted for activation. During the update of your information and activation process, bank will process a one cent entry (debit/credit transaction) in your account. CDs that renew automatically are deemed abandoned when there is no depositor contact for three years after the first maturity date following the last depositor contact. Funds in abandoned accounts are required to be turned over to the State (i.e., escheated). Information about property escheated to the State of New York may be obtained from the Office of the State Comptroller (https://www.osc.state.ny.us) or by calling from within New York State: 1-800-221-9311 or from outside of New York State: 1-518-270-2200 or by writing to the Office of the State Comptroller at the Alfred E. Smith Office Building, Albany, New York 12236. At your request, we will provide you with the required data to process your claim. Before surrendering the funds to the State of New York, we will notify you at your last recorded address and may also publish a notice in a newspaper in New York, if required by law. 5.3 Interest Withholding Tax: Interest owing to you could be subject to backup withholding if you have not given the Bank proper identification or forms or if otherwise required by IRS. FATCA withholding/ interest withholding will also apply if a foreign entity/ consumer does not re-certify. For current information, please contact your tax advisor or refer to the IRS website (https://www.irs.gov). 5.4 Interest Reporting: We are required by law to report to the Internal Revenue Service, all interest of $10 or more earned by you during a calendar year. At the beginning of the calendar year, we will advise you on Form 1099 or Form 1042 (NRA customers), the total amount of interest credited /paid during the previous year, any amount withheld and any interest penalty due to early withdrawal. Interest will be reported for tax purposes in the name and Social Security Number (SSN) or Employer Identification Number (EIN) of the primary depositor, i.e., the first name on the account in case of a joint account. If such first account holder does not have SSN or EIN, interest reporting will be done
State Bank of India New York Customer Manual for Deposits 10 Consumer Account Business/ Associations US Resident $1,000 $20,000 Non- US Resident $10,000 $50,000 A minimum balance service charge as listed in our “Schedule of Fees & Charges” in this Manual will be imposed every month if the balance in the account falls below the required minimum during any day of a calendar month. If the balance is less than the amount required to be deducted as a service charge, the available balance will be treated as service charges and the account may be closed forthwith, with notice to the customer at the last available address in our records. A checking account for a Non US resident consumer or business/association will be opened at the sole discretion of the Bank and as per its policy, either on the same terms and conditions as for U.S.-resident customers or on separate terms and conditions. No overdraft is permitted under any circumstances in this account. Any check presented with insufficient funds will be dishonored. Service charges are listed in our “Schedule of Fees & Charges” in this Manual. Early closure fees will apply if you close your account within three months of opening. The Bank will provide a statement of account at monthly intervals. 4.1.1 Basic Checking Account In order to provide low cost banking services, we offer “basic banking” checking accounts to all consumers who fulfill the following requirements: • Residents of New York State. • The consumer is required to close all other transaction accounts with our Bank or any other banking institution and will be given a period of 60 days (from the date the basic banking account is opened) to do so. If other transaction account/s is/are not closed within 60 days, the said basic checking account shall be closed by the Bank. • Receive direct credit of a recurring payment such as Social Security, wages or pension payments. • Have limited monthly transactions. • Desire basic checking services. Salient Features of Basic Checking Accounts a. Minimum deposit to open the account: $25. b. Minimum monthly balance required to be maintained: No minimum balance. c. Monthly maintenance fee: i) Nil, if the daily balance is $500 or more. ii) Otherwise $3 per month.
d. Minimum Balance Requirement: The minimum amount required for each CD will be USD 25,000. There is no maximum limit under the product. e. Early Withdrawal Penalty: All premature withdrawals incur a penalty as mentioned below. Partial withdrawal is not permitted.
d. Interest Payment Method: When opening the CD, you may opt to receive the periodic interest payments by any one of the following: • Through ACH/Wire transfer to your designated bank account • By an official check through regular mail • In your Checking or Money Market Deposit Account with us. If you opt to receive compounded interest (cumulative), we will pay you interest along with the principal at the time of maturity of the CD. e. Minimum Balance Requirement: The minimum amount required for each CD may vary for US resident depositors and those based outside the USA. It may also vary for consumer and accounts of businesses. Currently, the following are the minimum balances:
a. Interest Rate: The interest rate earned on a Senior Citizen Certificate of Deposit will earn fixed rate for the term of the CD. This rate is determined by the Bank, based on market conditions, at the time the account is opened or renewed. For current rate information, you may visit our website https://sbinewyork.statebank or call (212) 521-3390 b. Annual Percentage Yield (APY): Senior Citizen Certificate of Deposit is offered on simple interest (also called non-cumulative interest) and compound interest (also called cumulative interest) basis, depending upon your choice. In case of simple interest, the Annual Percentage Rate(APR) and Annual Percentage Yield would be the same. In case of compound interest, APY measures the total amount of interest paid on the account in a year based on the interest rate and the frequency of compounding is quarterly. The interest is calculated on a 365 days basis. c. Compounding Period/Payment of Interest: If you choose to receive simple interest (non- cumulative) on your CD, you may opt to withdraw the interest at monthly/quarterly/half-yearly intervals, at the time of opening or renewing the CD. If you choose to receive compounded interest on your CD, interest will be compounded at quarterly intervals and will be paid along with the principal at the time of maturity.
3.5 Limited Liability Company (“LLC”) The following documents are required:  The LLC’s organizational documents (Articles of Organization and Operating Agreement)  The names of all the members and managers of the LLC shall be provided with all the same identification as required for corporations above.  A certified copy of a resolution of the Managers of the LLC providing all the same information required in the corporate resolution set forth above.  Certificate of Beneficial owners, wherever applicable. 4. TYPES OF ACCOUNTS Three types of deposit accounts may be opened:  Checking Account  Money Market Deposit (MMD) Account  Certificate of Deposit (CD) Account 4.1 Checking Account This is a non-interest bearing account with no restrictions on the number of withdrawals or credits. However, Bank has the discretion to pay interest on a product variant. The minimum deposit required for opening an account is the minimum daily balance requirement for the account which is tabled below. The daily minimum balance required to be maintained to avoid monthly service charges are as follows:
• Principal: The exact sum of money deposited in an account or the amount of money borrowed. • Right of Set-Off: Right to adjust any overdue debt from any other account held singly or jointly with us. • Substitute Check: means a paper reproduction of an original check that contains an image of the front and back of the original check, bears a MICR line, and is suitable for automated processing in the same manner as the original check. 7 Privacy Notice: FACTS WHAT DOES STATE BANK OF INDIA (SBI-US) DO WITH YOUR PERSONAL INFORMATION? Why? Financial companies choose how they share your personal information. Federal law gives consumers the right to limit some but not all sharing. Federal law also requires us to tell you how we collect, share, and protect your personal information. Please read this notice carefully to understand what we do. What? The types of personal information we collect and share depend on the product or service you have with us. This information can include: Social Security number and income Account balances and payment history Assets and debt When you are no longer our customer, we continue to share your information as described in this notice.
State Bank of India New York Customer Manual for Deposits 14 Type US Resident Non-US Resident Consumer accounts $5,000 $10,000 Accounts of Businesses $10,000 $10,000 f. Early Withdrawal Penalty: The principal amount of CD cannot usually be withdrawn before the maturity date, unless the Bank consents to the withdrawal as a special case. We may require that all holders of a joint account authorize a premature withdrawal of the principal from a CD account. Partial withdrawal is not permitted. The penalty for early withdrawals of CD is as follows: Term of Deposit No of Days for which Interest will be recovered 14 days 14 days 1 month to less than 1 year 30 days 1 year to less than 3 years 60 days 3 years to less than 5 years 120 days 5 years & over 180 days The penalty will be calculated at the same interest rate of the deposit. A penalty will not be charged if the premature withdrawal is caused by the death of the depositor or if the depositor is declared legally incompetent. g. Principal Protection: SBI New York Certificate of Deposit comes with “Principal Protection” feature. The penalty for early withdrawal would be limited up to the amount of interest paid / payable and will not result in reduction of the amount originally deposited. h. Renewal: If your CD is for a term of more than 30 days, we will send you a maturity notice not less than 14 days and not more than 30 days prior to the maturity date. No maturity notice will be sent for Certificate of Deposit with term of 30 days or less.
State Bank of India New York Customer Manual for Deposits 15 CDs that were automatically renewed have a ten-calendar-day grace period (including the date of maturity). During the grace period, you may withdraw the amount of your deposit without incurring a premature withdrawal penalty. However, no interest will be paid from the date of maturity until the date of such withdrawal. If you choose to renew your deposit, during this grace period of 10 days, from a date later than the date of maturity, no interest will be paid from the date of maturity until the date of such renewal. Please, however, note that written instructions for withdrawal should be received by us within the grace period. The instructions will be accepted through Secured Messaging on Internet Banking Portal/Mail/In person visits to the Bank. CDs that mature on Saturdays, Sundays or Federal holidays will be available for withdrawal on the next business day and interest will be paid until the maturity date. CDs may not be negotiated or transferred to another individual or corporation. 4.3.1 Senior Citizen Certificate of Deposit This is a product variant of certificate of deposit specifically available to customers who are aged 60 years and above. These accounts can be either opened as Single or Joint deposits. In case of joint accounts, the primary account holder should meet the age eligibility criteria. We offer Senior Citizen CD with maturities from 1 year to 5 years. The product is available to US Citizens, Permanent Residents and Resident Aliens. In case of joint accounts, all the customers should be US Citizens, Permanent Residents or Resident aliens.
State Bank of India New York Customer Manual for Deposits 13 4.3. CERTIFICATE OF DEPOSIT (“CD”) A CD earns a fixed rate of interest when an amount of money (principal) is left on deposit with the Bank for a fixed period (a fixed number of days, months or years). After an account is opened, you may not make deposits into or withdraw from this account until the maturity date. Premature withdrawal of principal would attract a penalty. Refer to “Penalty for Early Withdrawal of Principal” (Section f). We offer CDs with maturities from 3 months to 5 years. Bank also accepts deposit for a tenor from 7 days to 3 months on a case to case basis. a. Interest Rate: The interest rate earned on a Certificate of Deposit will be a guaranteed fixed rate for the term of the CD. This rate is determined by the Bank, based on market conditions, at the time the account is opened or renewed. Presently we are not offering floating rate Certificate of Deposits. For current rate information, you may visit our website https://sbinewyork.statebank or call 212-521-3390. b. Annual Percentage Yield (APY): Our Certificates of Deposit are offered on simple interest (also called non-cumulative interest) and compound interest (also called cumulative interest) basis, depending upon your choice. For CDs with simple interest, there will not be any difference in the interest rate (also called Annual Percentage Rate, or APR) and the Annual Percentage Yield (APY). For CDs where interest is compounded, the Annual Percentage Yield measures the total amount of interest paid on the account in a year based on the interest rate and the frequency of compounding, which is quarterly. The interest is calculated on a 365 days basis. c. Compounding Period/Payment of Interest: If you choose to receive simple interest (non- cumulative) on your CD, you may opt to withdraw the interest at monthly/quarterly/half-yearly intervals, at the time of opening or renewing the CD, provided the deposit is for one year or more. For CDs of less than six months, the simple interest is paid at maturity. If you choose to receive compounded interest on your CD, interest will be compounded at quarterly intervals and will be paid along with the principal at the time of maturity. This option is only available for CDs of six months or higher maturities.
If we do not hear from you, and unless you had specifically advised us against automatic renewal when you opened the CD, 1. We will automatically renew the CD (principal and earned interest) for a period of one year at the rate offered for one year term on the date the CD matured for CDs having maturity of 1 year or more. 2. For CDs of lower tenor, the CD shall be auto-rolled over for original tenor. In the absence of your instruction for disposal of the maturity proceeds (where automatic renewal option has been declined), the maturity amount will be placed in a non-interest bearing account.
b) Can a beneficiary be non-resident of US? Yes. However, validation of identity will be mandatory for beneficiary/ies at the time of registration as well as claim settlement. The beneficiary will have to provide a valid Government issued ID such as Passport/Pan/Aadhar at the time of designation/claim. c) Can a beneficiary be minor? No. We do not accept minors as beneficiary. d) Is it mandatory for the beneficiary to have SSN/TIN/US ID? It is mandatory for the beneficiary to produce a valid Government issued ID at the time of registration as well as claim settlement. It can be SSN/TIN/US ID in case of US residents and Passport/PAN/Aadhar Card in case of residents of other countries. e) Are contingent beneficiaries permitted? If yes, how many? No. contingent beneficiaries are not permitted. f) Can the customer get a Designation of Beneficiary receipt? Yes. A signed confirmation can be provided upon request. g) Is signed and scanned copy of DOB form acceptable to Bank?

Test Case

Question: What is the minimum daily balance required to avoid monthly service charges for a Non-US Resident Business/Associations Money Market Deposit Account?

Metric Baseline Score Current Score
answer_accuracy 0.01176471 0.01101928 (-0.00074542)
groundedness 0.90232487 0.92352594 (+0.02120107)
mean_answer_similarity 0.81028845 0.80968431 (-0.00060413)
mean_reciprocal_rank 1.00000000 1.00000000
min_answer_similarity 0.79249495 0.79249495
model_failures 0.00000000 0.00000000
model_generation_failures 0.00000000 0.00000000
model_parse_failures 0.00000000 0.00000000
model_passes 1.00000000 1.00000000
model_retrieval_failures 0.00000000 0.00000000
precision_relevancy 0.89384272 0.89240713 (-0.00143559)
recall_relevancy 0.94247443 0.94247443
rouge_1 0.03669725 0.03539823 (-0.00129902)
rouge_2 0.01869159 0.01801802 (-0.00067357)
rouge_l 0.03669725 0.03539823 (-0.00129902)

Legend:

  • Metric : The evaluation metric name. Shown in bold red if the metric flipped between pass/fail status.
  • Baseline Score : The metric value for the baseline model. Shown in bold green if baseline won, red if lost.
  • Current Score : The metric value for the current model, followed by the delta from baseline in parentheses.
  • Delta Colors : Green = improvement, Orange = regression, Red = metric flipped to fail.
  • Winner Determination : For each metric, the winner is determined by comparing scores while considering the metric's directionality (higher is better vs. lower is better).
Baseline Result Current Result
Model claude-3-7-sonnet-20250219@h2ogpte claude-3-7-sonnet-20250219@h2ogpte
Question What is the minimum daily balance required to avoid monthly service charges for a Non-US Resident Business/Associations Money Market Deposit Account?
Expected answer $100,000
Actual Answer According to the document, the minimum daily balance required to avoid monthly service charges for a Non-US Resident Business/Associations Money Market Deposit Account is $100,000. This information is found on page 11 of the State Bank of India New York Customer Manual for Deposits, which states: "The daily minimum balances required to be maintained to avoid monthly service charges are as follows: [...] Non-US Resident Customer [...] Business/Associations $100,000." This is also confirmed on page 45 in the Schedule of Fees & Charges section, which shows the same minimum daily balance requirement of $100,000 for Non-USA Resident Business/Associations Money Market Accounts. According to the document, the minimum daily balance required to avoid monthly service charges for a Non-US Resident Business/Associations Money Market Deposit Account is $100,000. This information is found on page 11 of the State Bank of India New York Customer Manual for Deposits, which states: "The daily minimum balances required to be maintained to avoid monthly service charges are as follows: [...] Non-US Resident Customer [...] Business/Associations $100,000." This is also confirmed on page 45 in the "SCHEDULE OF FEES & CHARGES Minimum Balance Requirements & Service Charges" section, which indicates that for Non-USA Resident Business/Associations Money Market Accounts, the "Minimum daily balance" is "$100,000".
Retrieved Context
State Bank of India New York Customer Manual for Deposits 45 B. Service Fees & Charges Consumer Accounts Accounts of Business/ Associations Excess Transaction charges – Each transaction in Money Market Accounts in excess of 6 transfers or withdrawals or a combination of these in a statement period. $5 $5 Checks returned or paid against insufficient or unavailable funds # $10 $15 SCHEDULE OF FEES & CHARGES Minimum Balance Requirements & Service Charges Checking Account Money Market Account Consumer A/C Business/Associations Consumer A/c Business/Associations USA Resident Minimum daily balance 1,000 $ 20,000 $2,500 $ 50,000 Monthly service charge (if the balance falls below minimum on any day of the month) $15* (effective 01/01/2020) $ 50 $20* (effective 01/01/2020) $ 50 Non-USA Resident Minimum daily balance Opened at the sole discretion of the Bank and as per its Policy. Minimum balance is $10,000 Opened at the sole discretion of the Bank and as per its Policy. Minimum balance is $ 50,000 Opened at the sole discretion of the Bank and as per its Policy. Minimum balance is $ 25,000 Opened at the sole discretion of the Bank and as per its Policy. Minimum balance is $ 100,000 Monthly service charge (if the balance falls below minimum on any day of the month) $20* (effective 01/01/2020) $50 $25* (effective 01/01/2020) $50 Note : Consumer accounts = Accounts of natural persons
State Bank of India New York Customer Manual for Deposits 12 month, accrued interest will be credited and paid. Accrued interest will be credited to your account prior to closing the same. c. Compounding Method: Your Money Market Deposit Account earn simple interest on a 360 days’ basis which accrues daily based on the end-of-the-day balance. The daily balance method will be used to calculate the interest on the account. This method applies a daily periodic rate to the principal in the account each day. Although interest accrues daily, you may not withdraw the earnings until the first business day of the following calendar month, when the same is credited into the account, provided the account is not closed. If not withdrawn, interest is added to and becomes part of the account balance. Since interest is added to your total account balance, any credited interest in the account is, effectively, compounded monthly. d. Annual Percentage Yield: The annual percentage yield earned (APYE) for the statement period will be advised with each monthly statement account. e. Withdrawals: A maximum of 6 transfers or withdrawals, or a combination of such transfers or withdrawals, are permitted during a calendar month or statement cycle of at least four weeks. For the purpose of this limit, preauthorized, automatic transfers (including but not limited to transfer from savings deposit for overdraft protection or for direct bill payments) and transfers and withdrawals initiated by telephone, facsimile, or computer and transfers made by check, debit card or other similar order made by the depositor and payable to third parties is included.
State Bank of India New York Customer Manual for Deposits 17 Portal/In person at Bank/Mail. The cost of Checkbooks is listed in the “Schedule of Fees & Charges”. Generally, checks are paid in the order in which they are received. However, if the funds in the account are insufficient to pay all the checks presented, we shall endeavor to pay as many checks as possible, so that the least number of checks are required to be returned. b. Debit Card: You are eligible for a debit card provided you are a consumer and maintain at least one transaction account with us. A debit card will be issued to you on receipt of a written request from you and the satisfactory completion of the relevant documents. For more details on the service, please read the Debit Card agreement available on page 50. A copy of agreement is also available on our website https://sbinewyork.statebank . One debit card may be linked to your multiple transaction accounts maintained at State Bank of India, New York. Debits and withdrawals in your Money Market Deposit Account will be subject to the limitations described in paragraph 4.2 (e) of this document. The debit card can be used in India and USA only. Usage of cards in any other country for a temporary period may be permitted as per discretion of the Bank. We have recently introduced Debit Card alerts to our customers. We recommend you to opt for an email alert and/or a text alert by registering your details on the following link: https://alert.smsservicesnow.com/Landing/StateBank .
State Bank of India New York Customer Manual for Deposits 11 age or older. For every additional withdrawal or check beyond above mentioned number in a statement cycle, $5 will be recovered e. Restriction on the number of credits/deposits: No restriction. f. Availability of account statement and frequency of monthly statement: Account statements at monthly intervals will be provided. 4.2 Money Market Deposit (MMD) Account This is an interest-bearing account from which withdrawals can be made in accordance with certain prescribed restrictions. Tiered interest rate is available on money market accounts based on the balances available in the account. The minimum deposit required for opening an account is the minimum daily balance requirement for the account which is tabled below. The daily minimum balances required to be maintained to avoid monthly service charges are as follows: Consumer Account Business/ Associations US Resident Customer $2,500 $50,000 Non-US Resident Customer $25,000 $ 100,000 A minimum balance service charge as listed in our “Schedule of Fees & Charges” in this Manual will be imposed every month if the balance in the account falls below the required minimum during any day of a calendar month. If the balance is less than the amount required to be deducted as service charge, the so available balance will be treated as service charges and the account may be closed forthwith, with notice to the customer at the last available address in our records. No overdraft is permitted under any circumstances in this account. Any check presented with insufficient funds will be dishonored. Service charges are listed in our “Schedule of Fees & Charges” in this Manual. A Money Market Deposit Account for Non-US Resident consumer or business/association would be opened at the sole discretion of the Bank and as per its policy, either on the same terms and conditions as for U.S- resident customers or on mutually agreed terms and conditions. Monthly service charges are listed in our “Schedule of Fees & Charges” in this Manual. Early closure fees will apply if you close your account within three months of opening. Other Features of Money Market Deposit Accounts a. Interest Rate: Tiered interest rate is available on MMD accounts based on the balances available in account. Interest rate on these accounts may vary from time to time. The Bank reserves the right to change the rate at any time. There is no limitation as to the percentage amount the interest rate may vary. You may visit our website https://sbinewyork.statebank or call (212) 521-3200 for information on the current rate of interest. b. Payment of Interest: Interest will accrue on your day-end balance. Interest earned during the month will be credited to the account at the close of business on the last business day of the month and will be made available to you on the first business day of the following month. There is no minimum balance required to earn the stated annual percentage yield. For non-cash deposits made into your account (for example checks) interest begins to accrue no later than the business day we receive credit for the deposit of the non-cash items. If the account is closed during the middle of a
State Bank of India New York Customer Manual for Deposits 10 Consumer Account Business/ Associations US Resident $1,000 $20,000 Non- US Resident $10,000 $50,000 A minimum balance service charge as listed in our “Schedule of Fees & Charges” in this Manual will be imposed every month if the balance in the account falls below the required minimum during any day of a calendar month. If the balance is less than the amount required to be deducted as a service charge, the available balance will be treated as service charges and the account may be closed forthwith, with notice to the customer at the last available address in our records. A checking account for a Non US resident consumer or business/association will be opened at the sole discretion of the Bank and as per its policy, either on the same terms and conditions as for U.S.-resident customers or on separate terms and conditions. No overdraft is permitted under any circumstances in this account. Any check presented with insufficient funds will be dishonored. Service charges are listed in our “Schedule of Fees & Charges” in this Manual. Early closure fees will apply if you close your account within three months of opening. The Bank will provide a statement of account at monthly intervals. 4.1.1 Basic Checking Account In order to provide low cost banking services, we offer “basic banking” checking accounts to all consumers who fulfill the following requirements: • Residents of New York State. • The consumer is required to close all other transaction accounts with our Bank or any other banking institution and will be given a period of 60 days (from the date the basic banking account is opened) to do so. If other transaction account/s is/are not closed within 60 days, the said basic checking account shall be closed by the Bank. • Receive direct credit of a recurring payment such as Social Security, wages or pension payments. • Have limited monthly transactions. • Desire basic checking services. Salient Features of Basic Checking Accounts a. Minimum deposit to open the account: $25. b. Minimum monthly balance required to be maintained: No minimum balance. c. Monthly maintenance fee: i) Nil, if the daily balance is $500 or more. ii) Otherwise $3 per month.
State Bank of India New York Customer Manual for Deposits 20 If you apply for a duplicate official check or a refund within 180 days of the date of the check, the Bank would require you and the payee to jointly sign an affidavit of loss and indemnity, referred to as Indemnity Agreement. You may also be required to submit a Surety Bond for twice the amount of the instrument or to place sufficient funds as security with us. After 180 days, an affidavit of loss and indemnity alone may suffice. A fee (see “Schedule of Fees & Charges”) will be charged for each stop payment request. i. Your Records: Your cancelled check(s) or substitute check(s), copies of special withdrawal form(s) and acknowledgment(s) on deposit slip(s) are your records. Paid and cancelled checks or substitute checks will be mailed with the statement of accounts to U.S. based customers. The cancelled checks or substitute checks for non-U.S. based accounts will normally be retained by the Bank. j. Statement of Account: Both Checking and Money Market Deposit Accounts are statement accounts. For all active statement accounts (that is, accounts which are not inactive or dormant as explained in Section 5.2) at least once in a calendar month, we will send a statement showing all account activities during the previous statement period. This statement will indicate your balance on the statement date and will give you an itemized, date-wise listing of all credits, all paid checks/ transfers, transactions put through using the linked debit card, interest earned, and any maintenance and service charges levied. It will also indicate the annual percentage yield earned (APYE) in effect during the period, if the account is interest bearing. All statements will be mailed to the last address known to the Bank by regular mail. For additional statements and other modes of sending statements, charges will be extra. No periodic account statements will be sent on CD accounts. Statements of Account are not available online, however, you may view the transactions online through internet banking.
State Bank of India New York Customer Manual for Deposits 31 individuals who are members of the general public and reside in California. Accordingly, under Section 4052(f) of the California Financial Code, the Los Angeles branch does not do business with “consumers” as defined under California law and is not subject to the California Financial Information Privacy Act. Both New York and California have laws that require SBI-US to notify you in the event that unauthorized persons obtain your personal and private information maintained on our computer system. SBI-US has procedures in place to ensure that you receive such notice in the proper circumstances. SBI-US reserves the right to change the Privacy Policy at any time, but if we do so, we will notify you in a reasonable time when any change is implemented. We will also notify you annually as required by federal law. 8. FUNDS AVAILABILITY: An understanding of funds availability will help you to manage your money more easily and avoid the inconvenience of a returned check or a withdrawal request that cannot be honored. Our policy is to make funds you deposit into your SBI account(s) available for withdrawal based upon the type of deposit or check. The funds are made available within the period of time specified by federal regulations. a. How Can You Tell When Your Deposit Will Be Available? You can use the chart in this Manual to tell when your deposit will be available. To use this chart, first read the following questions and answers. b. What is the Day of Deposit? For determining the availability of your deposits, every day is a business day except Saturdays, Sundays, and Federal holidays. If you make a deposit before 4:00 pm (cash services available until 3:00 pm EST) on a business day that we are open, we will consider that day to be the day of your deposit. If you make a deposit after that time, we will consider that the deposit was made on the next business day that we are open. c. Are You a New SBI Customer? If you have been banking with SBI for 30 days or less, you are considered a new customer and special rules apply to you regarding funds availability. d. What is the Type of Deposit? The hold period or the number of days applicable for making available the funds depends on the type of deposit you make (such as a check drawn on the Bank, a check drawn on another bank/branch, or cashier’s check). e. What Items are Available on the Same Day? Cash deposits made up to 3:00 pm and checks drawn on any US offices of the Bank and Official, Certified, Cashier's and Teller's checks will be made available on the day of the deposit into the account.
State Bank of India New York Customer Manual for Deposits 21 l. Charges: We reserve the right to charge your account in accordance with the “Schedule of Fees & Charges” in circumstances such as, but not limited to, the following: • If a check deposited by you has been returned unpaid. • If there are insufficient funds in your account to cover a check you have issued. • If you use a service that involves a fee or a charge, e.g., issue of official checks or recovery of charges by a bank through which a wire transfer has been sent. • If there is a monthly service charge due to non-maintenance of minimum balance. • If we are required to comply with any legal process in connection with your account. • If you desire stop payment of a check. • If a postdated check written by you has been returned unpaid. • If we confirm the balance in your account to a third party under your authorization. • If you desire us to furnish credit information related to your account. • If you desire copies of your records. • If you give us a standing instruction. The Bank will not be responsible if it refuses to pay a check you have issued if there are not enough funds in the account after we have deducted a service charge.
3.5 Limited Liability Company (“LLC”) The following documents are required:  The LLC’s organizational documents (Articles of Organization and Operating Agreement)  The names of all the members and managers of the LLC shall be provided with all the same identification as required for corporations above.  A certified copy of a resolution of the Managers of the LLC providing all the same information required in the corporate resolution set forth above.  Certificate of Beneficial owners, wherever applicable. 4. TYPES OF ACCOUNTS Three types of deposit accounts may be opened:  Checking Account  Money Market Deposit (MMD) Account  Certificate of Deposit (CD) Account 4.1 Checking Account This is a non-interest bearing account with no restrictions on the number of withdrawals or credits. However, Bank has the discretion to pay interest on a product variant. The minimum deposit required for opening an account is the minimum daily balance requirement for the account which is tabled below. The daily minimum balance required to be maintained to avoid monthly service charges are as follows:
State Bank of India New York Customer Manual for Deposits 14 Type US Resident Non-US Resident Consumer accounts $5,000 $10,000 Accounts of Businesses $10,000 $10,000 f. Early Withdrawal Penalty: The principal amount of CD cannot usually be withdrawn before the maturity date, unless the Bank consents to the withdrawal as a special case. We may require that all holders of a joint account authorize a premature withdrawal of the principal from a CD account. Partial withdrawal is not permitted. The penalty for early withdrawals of CD is as follows: Term of Deposit No of Days for which Interest will be recovered 14 days 14 days 1 month to less than 1 year 30 days 1 year to less than 3 years 60 days 3 years to less than 5 years 120 days 5 years & over 180 days The penalty will be calculated at the same interest rate of the deposit. A penalty will not be charged if the premature withdrawal is caused by the death of the depositor or if the depositor is declared legally incompetent. g. Principal Protection: SBI New York Certificate of Deposit comes with “Principal Protection” feature. The penalty for early withdrawal would be limited up to the amount of interest paid / payable and will not result in reduction of the amount originally deposited. h. Renewal: If your CD is for a term of more than 30 days, we will send you a maturity notice not less than 14 days and not more than 30 days prior to the maturity date. No maturity notice will be sent for Certificate of Deposit with term of 30 days or less.
State Bank of India New York Customer Manual for Deposits 12 month, accrued interest will be credited and paid. Accrued interest will be credited to your account prior to closing the same. c. Compounding Method: Your Money Market Deposit Account earn simple interest on a 360 days’ basis which accrues daily based on the end-of-the-day balance. The daily balance method will be used to calculate the interest on the account. This method applies a daily periodic rate to the principal in the account each day. Although interest accrues daily, you may not withdraw the earnings until the first business day of the following calendar month, when the same is credited into the account, provided the account is not closed. If not withdrawn, interest is added to and becomes part of the account balance. Since interest is added to your total account balance, any credited interest in the account is, effectively, compounded monthly. d. Annual Percentage Yield: The annual percentage yield earned (APYE) for the statement period will be advised with each monthly statement account. e. Withdrawals: A maximum of 6 transfers or withdrawals, or a combination of such transfers or withdrawals, are permitted during a calendar month or statement cycle of at least four weeks. For the purpose of this limit, preauthorized, automatic transfers (including but not limited to transfer from savings deposit for overdraft protection or for direct bill payments) and transfers and withdrawals initiated by telephone, facsimile, or computer and transfers made by check, debit card or other similar order made by the depositor and payable to third parties is included.
State Bank of India New York Customer Manual for Deposits 45 B. Service Fees & Charges Consumer Accounts Accounts of Business/ Associations Excess Transaction charges – Each transaction in Money Market Accounts in excess of 6 transfers or withdrawals or a combination of these in a statement period. $5 $5 Checks returned or paid against insufficient or unavailable funds # $10 $15 SCHEDULE OF FEES & CHARGES Minimum Balance Requirements & Service Charges Checking Account Money Market Account Consumer A/C Business/Associations Consumer A/c Business/Associations USA Resident Minimum daily balance 1,000 $ 20,000 $2,500 $ 50,000 Monthly service charge (if the balance falls below minimum on any day of the month) $15* (effective 01/01/2020) $ 50 $20* (effective 01/01/2020) $ 50 Non-USA Resident Minimum daily balance Opened at the sole discretion of the Bank and as per its Policy. Minimum balance is $10,000 Opened at the sole discretion of the Bank and as per its Policy. Minimum balance is $ 50,000 Opened at the sole discretion of the Bank and as per its Policy. Minimum balance is $ 25,000 Opened at the sole discretion of the Bank and as per its Policy. Minimum balance is $ 100,000 Monthly service charge (if the balance falls below minimum on any day of the month) $20* (effective 01/01/2020) $50 $25* (effective 01/01/2020) $50 Note : Consumer accounts = Accounts of natural persons
State Bank of India New York Customer Manual for Deposits 11 age or older. For every additional withdrawal or check beyond above mentioned number in a statement cycle, $5 will be recovered e. Restriction on the number of credits/deposits: No restriction. f. Availability of account statement and frequency of monthly statement: Account statements at monthly intervals will be provided. 4.2 Money Market Deposit (MMD) Account This is an interest-bearing account from which withdrawals can be made in accordance with certain prescribed restrictions. Tiered interest rate is available on money market accounts based on the balances available in the account. The minimum deposit required for opening an account is the minimum daily balance requirement for the account which is tabled below. The daily minimum balances required to be maintained to avoid monthly service charges are as follows: Consumer Account Business/ Associations US Resident Customer $2,500 $50,000 Non-US Resident Customer $25,000 $ 100,000 A minimum balance service charge as listed in our “Schedule of Fees & Charges” in this Manual will be imposed every month if the balance in the account falls below the required minimum during any day of a calendar month. If the balance is less than the amount required to be deducted as service charge, the so available balance will be treated as service charges and the account may be closed forthwith, with notice to the customer at the last available address in our records. No overdraft is permitted under any circumstances in this account. Any check presented with insufficient funds will be dishonored. Service charges are listed in our “Schedule of Fees & Charges” in this Manual. A Money Market Deposit Account for Non-US Resident consumer or business/association would be opened at the sole discretion of the Bank and as per its policy, either on the same terms and conditions as for U.S- resident customers or on mutually agreed terms and conditions. Monthly service charges are listed in our “Schedule of Fees & Charges” in this Manual. Early closure fees will apply if you close your account within three months of opening. Other Features of Money Market Deposit Accounts a. Interest Rate: Tiered interest rate is available on MMD accounts based on the balances available in account. Interest rate on these accounts may vary from time to time. The Bank reserves the right to change the rate at any time. There is no limitation as to the percentage amount the interest rate may vary. You may visit our website https://sbinewyork.statebank or call (212) 521-3200 for information on the current rate of interest. b. Payment of Interest: Interest will accrue on your day-end balance. Interest earned during the month will be credited to the account at the close of business on the last business day of the month and will be made available to you on the first business day of the following month. There is no minimum balance required to earn the stated annual percentage yield. For non-cash deposits made into your account (for example checks) interest begins to accrue no later than the business day we receive credit for the deposit of the non-cash items. If the account is closed during the middle of a
State Bank of India New York Customer Manual for Deposits 46 Deposited checks returned unpaid # $10 $10 Closing of Checking or Money Market account within 3 months of opening $25 $25 Listing of Stop Payment request valid for 6 months per check, per ACH debit or debit card preauthorized transfers stopped (maximum $50 at one time) $15 $15 Stop Check Request through YONO US Portal (Min. 1 leaf Max: 10 leaves within same range) $15 for one leaf $30 for 2 leaves $45 for 3 leaves $50 for 4-10 leaves Not Applicable Cancellation of Stop Payment request per check, ACH debit or debit card preauthorized transfers stopped $15 $15 Expedited Delivery of Debit Card Actual cost charged by the service provider -- Per item charge for copy of paid checks/deposited checks, withdrawals or tickets - For current calendar year - For previous calendar year - For other years (up to 5 previous years) *per preceding year beyond previous year $5 $10 $15 * $5 $10 $15 * Charges per page of account statements - For current calendar year - For previous calendar year - For all other years (up to 5 previous years) *per preceding year beyond previous year $5 $10 $15 * $5 $10 $15 * Transfer of funds from Checking to MMD or vice-versa (per transfer) / between two accounts Manual transfer Online transfer $5 Free $5 Free Credit reference $10 $10 Issue of local official checks/certified checks $10 $10 Cash handling charges (per thousand or part thereof after first $1000 deposit in a day) NIL for less than $1000 $2 $2
State Bank of India New York Customer Manual for Deposits 20 If you apply for a duplicate official check or a refund within 180 days of the date of the check, the Bank would require you and the payee to jointly sign an affidavit of loss and indemnity, referred to as Indemnity Agreement. You may also be required to submit a Surety Bond for twice the amount of the instrument or to place sufficient funds as security with us. After 180 days, an affidavit of loss and indemnity alone may suffice. A fee (see “Schedule of Fees & Charges”) will be charged for each stop payment request. i. Your Records: Your cancelled check(s) or substitute check(s), copies of special withdrawal form(s) and acknowledgment(s) on deposit slip(s) are your records. Paid and cancelled checks or substitute checks will be mailed with the statement of accounts to U.S. based customers. The cancelled checks or substitute checks for non-U.S. based accounts will normally be retained by the Bank. j. Statement of Account: Both Checking and Money Market Deposit Accounts are statement accounts. For all active statement accounts (that is, accounts which are not inactive or dormant as explained in Section 5.2) at least once in a calendar month, we will send a statement showing all account activities during the previous statement period. This statement will indicate your balance on the statement date and will give you an itemized, date-wise listing of all credits, all paid checks/ transfers, transactions put through using the linked debit card, interest earned, and any maintenance and service charges levied. It will also indicate the annual percentage yield earned (APYE) in effect during the period, if the account is interest bearing. All statements will be mailed to the last address known to the Bank by regular mail. For additional statements and other modes of sending statements, charges will be extra. No periodic account statements will be sent on CD accounts. Statements of Account are not available online, however, you may view the transactions online through internet banking.
State Bank of India New York Customer Manual for Deposits 10 Consumer Account Business/ Associations US Resident $1,000 $20,000 Non- US Resident $10,000 $50,000 A minimum balance service charge as listed in our “Schedule of Fees & Charges” in this Manual will be imposed every month if the balance in the account falls below the required minimum during any day of a calendar month. If the balance is less than the amount required to be deducted as a service charge, the available balance will be treated as service charges and the account may be closed forthwith, with notice to the customer at the last available address in our records. A checking account for a Non US resident consumer or business/association will be opened at the sole discretion of the Bank and as per its policy, either on the same terms and conditions as for U.S.-resident customers or on separate terms and conditions. No overdraft is permitted under any circumstances in this account. Any check presented with insufficient funds will be dishonored. Service charges are listed in our “Schedule of Fees & Charges” in this Manual. Early closure fees will apply if you close your account within three months of opening. The Bank will provide a statement of account at monthly intervals. 4.1.1 Basic Checking Account In order to provide low cost banking services, we offer “basic banking” checking accounts to all consumers who fulfill the following requirements: • Residents of New York State. • The consumer is required to close all other transaction accounts with our Bank or any other banking institution and will be given a period of 60 days (from the date the basic banking account is opened) to do so. If other transaction account/s is/are not closed within 60 days, the said basic checking account shall be closed by the Bank. • Receive direct credit of a recurring payment such as Social Security, wages or pension payments. • Have limited monthly transactions. • Desire basic checking services. Salient Features of Basic Checking Accounts a. Minimum deposit to open the account: $25. b. Minimum monthly balance required to be maintained: No minimum balance. c. Monthly maintenance fee: i) Nil, if the daily balance is $500 or more. ii) Otherwise $3 per month.
State Bank of India New York Customer Manual for Deposits 17 Portal/In person at Bank/Mail. The cost of Checkbooks is listed in the “Schedule of Fees & Charges”. Generally, checks are paid in the order in which they are received. However, if the funds in the account are insufficient to pay all the checks presented, we shall endeavor to pay as many checks as possible, so that the least number of checks are required to be returned. b. Debit Card: You are eligible for a debit card provided you are a consumer and maintain at least one transaction account with us. A debit card will be issued to you on receipt of a written request from you and the satisfactory completion of the relevant documents. For more details on the service, please read the Debit Card agreement available on page 50. A copy of agreement is also available on our website https://sbinewyork.statebank . One debit card may be linked to your multiple transaction accounts maintained at State Bank of India, New York. Debits and withdrawals in your Money Market Deposit Account will be subject to the limitations described in paragraph 4.2 (e) of this document. The debit card can be used in India and USA only. Usage of cards in any other country for a temporary period may be permitted as per discretion of the Bank. We have recently introduced Debit Card alerts to our customers. We recommend you to opt for an email alert and/or a text alert by registering your details on the following link: https://alert.smsservicesnow.com/Landing/StateBank .
State Bank of India New York Customer Manual for Deposits 21 l. Charges: We reserve the right to charge your account in accordance with the “Schedule of Fees & Charges” in circumstances such as, but not limited to, the following: • If a check deposited by you has been returned unpaid. • If there are insufficient funds in your account to cover a check you have issued. • If you use a service that involves a fee or a charge, e.g., issue of official checks or recovery of charges by a bank through which a wire transfer has been sent. • If there is a monthly service charge due to non-maintenance of minimum balance. • If we are required to comply with any legal process in connection with your account. • If you desire stop payment of a check. • If a postdated check written by you has been returned unpaid. • If we confirm the balance in your account to a third party under your authorization. • If you desire us to furnish credit information related to your account. • If you desire copies of your records. • If you give us a standing instruction. The Bank will not be responsible if it refuses to pay a check you have issued if there are not enough funds in the account after we have deducted a service charge.
State Bank of India New York Customer Manual for Deposits 36 or disclosed to a third party. The security of the PIN is the Card Holder’s responsibility. e. Funds: The Card Holder will maintain sufficient funds in the Account as necessary to cover any transactions at the time they are initiated. The Card Holder should not use or attempt to use the Card without sufficient funds in the Account. In the event of payment/debit made in excess of the balance available in the Account, Card Holder will be responsible to the Bank for the amount of any transaction completed and will also be responsible to the Bank for the Service Fee disclosed in the Schedule of Fees and Charges. h. Periodic Statements: Periodic Statements of the Account will be sent to the Card Holder as provided in Customer Manual. If you expect to receive any preauthorized transfer to your account, you may call 212-521-3286 to determine whether your transfer has been received. e. Expiration/Renewal: The Card is valid up to the last day of the month/year indicated on the Card. A renewal Card shall be sent by the Bank before the expiry of the Card at the discretion of the Bank. The Bank reserves the sole right to renew the Card account on expiry. The Card Holder is responsible for destroying the expired Card. Unless we are notified in writing otherwise, re-issued cards will be sent to your last known address according to the records of the Bank. f. Transfer types and Limitations: The Card is accepted at all electronic chip enabled Point-of-Sale (POS) terminals at stores and vendors (Merchant Establishments) displaying MasterCard or STAR logos. The Card is accepted at STAR Network ATMs and may be accepted at ATMs operated by other banks or financial institutions. The Card may be used to make purchases at an electronic chip enabled Point-of-Sale terminal, to pay bills directly by telephone, internet, or other means, or to make other such electronic transfers from an account. The Card may be used to withdraw cash from the Account, transfer funds between Accounts, and obtain Account balance information. Card Holder is entitled to receive a receipt of ATM Transactions containing sufficient information to identify the transaction and the terminal used. You cannot deposit cash or checks at ATMs. The Bank will have no liability if you deposit cash or checks at an ATM. g. Daily Use Limits: A Card Holder may use the Card to make purchases up to $2000.00 per day at Merchant Establishments or such other limits as the Bank may establish from time to time. The Bank may lower these limits in case of a technical failure. A Card Holder may withdraw up to $1000.00 per day at ATMs. The Bank reserves the right to lower this limit in case of a technical failure. h. Debit-card clearing: Debit-card Transactions may clear the Account differently than checks and traditional ATM card transactions. Because these transactions clear differently, the Card Holders should take care to keep an accurate register and monitor the Account’s balance for pending transactions and cleared transactions in order to avoid unwanted fees and other items being returned. i. Available balance: Each time the Card Holder uses the Card, a hold is immediately placed on funds in the account, reducing the available balance to pay checks and other debits that are presented to the Bank for payment. j. Holds on the account: Typically, debit-card transaction “holds” are for the amount of the actual
3.5 Limited Liability Company (“LLC”) The following documents are required:  The LLC’s organizational documents (Articles of Organization and Operating Agreement)  The names of all the members and managers of the LLC shall be provided with all the same identification as required for corporations above.  A certified copy of a resolution of the Managers of the LLC providing all the same information required in the corporate resolution set forth above.  Certificate of Beneficial owners, wherever applicable. 4. TYPES OF ACCOUNTS Three types of deposit accounts may be opened:  Checking Account  Money Market Deposit (MMD) Account  Certificate of Deposit (CD) Account 4.1 Checking Account This is a non-interest bearing account with no restrictions on the number of withdrawals or credits. However, Bank has the discretion to pay interest on a product variant. The minimum deposit required for opening an account is the minimum daily balance requirement for the account which is tabled below. The daily minimum balance required to be maintained to avoid monthly service charges are as follows:

Test Case

Question: Is the bank liable for any loss or damage suffered due to the account holder's failure to inform the bank regarding any changes in the account holder's personal information?

Metric Baseline Score Current Score
answer_accuracy 0.84990348 0.76847148 (-0.08143201)
groundedness 0.84373297 0.82037737 (-0.02335560)
mean_answer_similarity 0.88220693 0.86575858 (-0.01644834)
mean_reciprocal_rank 1.00000000 1.00000000
min_answer_similarity 0.84990348 0.76847148 (-0.08143201)
model_failures 0.00000000 0.00000000
model_generation_failures 0.00000000 0.00000000
model_parse_failures 0.00000000 0.00000000
model_passes 1.00000000 1.00000000
model_retrieval_failures 0.00000000 0.00000000
precision_relevancy 0.87605200 0.87332091 (-0.00273110)
recall_relevancy 0.90501780 0.90501780
rouge_1 0.45810056 0.37668161 (-0.08141894)
rouge_2 0.40677966 0.34389140 (-0.06288826)
rouge_l 0.33519553 0.31390135 (-0.02129419)

Legend:

  • Metric : The evaluation metric name. Shown in bold red if the metric flipped between pass/fail status.
  • Baseline Score : The metric value for the baseline model. Shown in bold green if baseline won, red if lost.
  • Current Score : The metric value for the current model, followed by the delta from baseline in parentheses.
  • Delta Colors : Green = improvement, Orange = regression, Red = metric flipped to fail.
  • Winner Determination : For each metric, the winner is determined by comparing scores while considering the metric's directionality (higher is better vs. lower is better).
Baseline Result Current Result
Model claude-3-7-sonnet-20250219@h2ogpte claude-3-7-sonnet-20250219@h2ogpte
Question Is the bank liable for any loss or damage suffered due to the account holder's failure to inform the bank regarding any changes in the account holder's personal information?
Expected answer No, the bank shall not be liable to the account holder or to any third party, for any loss or damage suffered due to the account holder's failure to inform the bank regarding any changes in the account holder's personal information.
Actual Answer According to the document, the bank is not liable for any loss or damage suffered due to the account holder's failure to inform the bank regarding changes in the account holder's personal information. This is explicitly stated in the "Limitation of Bank's Liability" section on page 53 of the Customer Manual for Deposits, where it lists various circumstances under which the bank shall not be liable to the card holder or any third party. Point (h) specifically mentions "Failure of the Card Holder to inform the Bank regarding any changes in the Card Holder's personal information" as one of these circumstances. This same limitation of liability is also repeated on page 56 of the document, reinforcing that the bank is not responsible for losses resulting from customers not updating their personal information. According to the document, the bank is not liable for any loss or damage suffered due to the account holder's failure to inform the bank regarding changes in personal information. This is explicitly stated on page 53 of the Customer Manual for Deposits, where it lists the circumstances under which "The Bank shall not be liable to the Card Holder or to any third party, for any loss or damage suffered." Item (h) on this list specifically mentions "Failure of the Card Holder to inform the Bank regarding any changes in the Card Holder's personal information" as one of these circumstances. This is further reinforced on page 56, which repeats this limitation of liability. The document also notes on page 3 that the "Bank may ask you to update your account information through remediation form as and when there is any material change, or whenever bank requires," and if this information is not provided within a reasonable time (30 days), the bank may decline further transactions and potentially close the account if not received within subsequent 60 days.
Retrieved Context
The Bank shall not be liable to the Card Holder or to any third party, for any loss or damage suffered due to the following reasons: (i) Any action carried out by the Bank, in good faith, based upon the instructions of the Card Holder, exercising due diligence and reasonable care; (ii) Any unauthorized and illegal Transactions occurring through the use of Bank Account(s), which can be attributed to the fraudulent or negligent conduct of the Card Holder, to the extent permitted by law; (iii) Any ATM or Merchant Establishment refusal to honor the Card, for whatever reason; (iv) Intrusion or hacking into the computer system/network or communication network of the Bank, to the extent permitted by law; (v) Failure to carry out any instructions of the Card Holder due to insufficiency of balance in the Card Holder’s Account(s) or if the card holder’s funds are subject to legal process or other restriction; (vi) Failure of the Card Holder to access the Account due to any Force Majeure Event, Technical Problems, or any other reason beyond the control of the Bank; (vii) Failure of the Card Holder to keep confidential and secure, PIN or any passwords, keywords or other identification marks given to the Card Holder for operating of the Account and/or Card; (viii) Failure of the Card Holder to inform the Bank regarding any changes in the Card Holder’s personal information; (ix) Breach of any of the other terms and conditions stated herein or in the Customer Manual by the Card Holder; (x) Non-debiting of Transaction amount instantly through ATM or Merchant Transactions; (xi) Other than to return your funds to you and to properly credit your account, under no circumstances shall the Bank be liable for any damages, whatsoever whether such damages are direct, indirect, incidental, consequential and irrespective of whether any claim is based on loss of revenue, investment, production, goodwill, profit, interruption of business or any other loss of any character of nature whatsoever and whether sustained by the Card Holder or any other third party. 14. Termination: The Bank reserves the right to cancel or withdraw the Card or any of the other services offered at any time without assigning any reason. If the Card Holder closes the Account, the Card(s) issued with the Account will be void. The Card Holder(s) must immediately cease to use the Card and destroy and return all additional Cards. If there are outstanding Transactions pending to the Account, the same will be netted out from the balance prior to the Bank returning the funds to the Card Holder. If the Account is closed, due to any reason whatsoever, prior to debit of any outstanding Card Transactions, Card Holder is liable to refund the amount along with the interest and
Lost or Stolen Card: If the Card is lost or stolen or someone has transferred funds from Card Holder’s Account without his/ her permission, the Card Holder must report the loss to the STAR Network immediately by calling the 24-hour toll-free number shown below or other numbers that may be numbers provided herein. If the Card Holder notifies the Bank within 2 business days of the loss or theft of the Card, the Card Holder’s loss due to unauthorized use of the Card is limited to $50. If the Card Holder does not notify the Bank within 2 business days of the loss or theft of the Card, and the Bank can prove that earlier notification could have prevented the use of the Card, the Card Holder’s liability for the loss could be as much as $500. If the theft is reported after 60 calendar days of the showing of fraud, the card holder may be liable for all unauthorized charges. If you believe that there has been un-authorized transaction(s) using your debit card, please contact us immediately. A Lost or Stolen Card may be reported by contacting: 1-800-523-4175. This toll-free number is available 24-hours a day. 12. Error Resolution: Disputes of ATM or Merchant Establishment Transactions appearing on the Card Holder’s Periodic Statement are subject to the Error Resolution Procedure as mentioned herein. Your rights to a refund or returned merchandise are generally the same as if you had paid by cash or check, and generally must be resolved with the merchant. a) You will get a monthly statement of your Checking/Money Market Account. If you think your statement or receipt is wrong or if you need more information about a transaction listed on the statement, or if you feel that there are other errors or if you have questions about your debit card transactions, please telephone or write to us at the following address: State Bank of India Deposit Section 460 Park Avenue, New York, N.Y 10022 Tel: (212)521-3200/3342 b) For error resolution, we must hear from you no later than 60 days after we sent the first statement on which the problem or error appeared. When writing to us about the error: • Tell us your name and Account number. • Describe the error or the transfer you are unsure about and explain as clearly as you can why you believe it is an error or why you need more information. • Tell us the dollar amount of the error.
• Principal: The exact sum of money deposited in an account or the amount of money borrowed. • Right of Set-Off: Right to adjust any overdue debt from any other account held singly or jointly with us. • Substitute Check: means a paper reproduction of an original check that contains an image of the front and back of the original check, bears a MICR line, and is suitable for automated processing in the same manner as the original check. 7 Privacy Notice: FACTS WHAT DOES STATE BANK OF INDIA (SBI-US) DO WITH YOUR PERSONAL INFORMATION? Why? Financial companies choose how they share your personal information. Federal law gives consumers the right to limit some but not all sharing. Federal law also requires us to tell you how we collect, share, and protect your personal information. Please read this notice carefully to understand what we do. What? The types of personal information we collect and share depend on the product or service you have with us. This information can include: Social Security number and income Account balances and payment history Assets and debt When you are no longer our customer, we continue to share your information as described in this notice.
State Bank of India New York Customer Manual for Deposits 56 and other applicable laws, may keep records or make reports of high-dollar transactions, suspicious activities, or foreign currency transactions, as necessary to comply with the law and to detect and prevent illegal activity. There are serious civil and criminal consequences to engaging in illegal financial transactions. 13. Limitation of Bank’s Liability: If we do not complete a transfer to or from your account on time or in the correct amount according to our agreement with you, we will be liable for your losses or damages as further described herein. However, there are some exceptions. We will not be liable, for instance: (1) If, through no fault of ours, you do not have enough money in your account to make the transfer. (2) If the transfer would go over the credit limit on your overdraft line. (3) If the automated teller machine where you are making the transfer does not have enough cash. (4) If the system was not working properly and you knew about the breakdown when you started the transfer. (5) If circumstances beyond our control (such as fire or flood) prevent the transfer, despite reasonable precautions that we have taken.
State Bank of India New York Customer Manual for Deposits 22 The Bank also reserves the right to close your accounts without any prior notice for any reason in the Bank’s sole discretion. The Bank will mail you a check for the balance in the accounts. The Bank may give you notice before taking this step, although we are not obliged to do so. We also reserve the right to close your account if your account has a NIL balance for more than three (3) months. Payment of interest on your account (if your account is interest-bearing) will cease from the date of closure of the account. Checking and Money Market Deposit Accounts cannot be negotiated or transferred to another individual or corporation or entity. o. Bank’s Liability: If the Bank does not complete a transfer to or from your account in time or for the correct amount as per your agreement with us, we will be liable for your direct losses or damages but not any indirect costs or punitive costs or damages. However, the Bank will not be liable in circumstances such as:  The funds in your account are not sufficient to affect the transfer  The automated teller machine where you were making the transfer has a communication failure.  The automated teller machine did not have enough cash  If circumstances beyond our control prevent the transfer.  If we are unable to confirm the transaction with you (if required)  Any other exceptions stated in our agreement with you.
State Bank of India New York Customer Manual for Deposits 53 c) If you tell us about the error orally, in person or by telephone, we require that you send us your complaint or question in writing within ten business days. d) We shall tell you the results of our preliminary investigation within 10 business days after we hear from you and will correct any error promptly. Sometimes we may take up to 45 days to investigate certain complaints or questions. In such cases, we will provisionally credit your Account upon your indemnifying us within 10 business days for the amount you think is in error, so that you may have the use of the money during the time it takes us to complete our investigation. If we ask you to put your complaint or question in writing and we do not receive it within 10 business days, we may not credit your Account. e) For errors involving new Accounts, point-of-sale, or foreign-initiated transactions, we may take up to 90 days to investigate your complaint or question. For new Accounts we may take up to 20 business days to credit your Account for the amount you think is in error. If we decide there was no error, we will send you a written explanation within three business days after we finish our investigation. You may ask for copies of the documents that we used in our investigation. 13. Anti-Money Laundering: The Bank, to the extent required by federal law under the USA PATRIOT Act and others, may keep records or make reports of high-dollar Transactions, suspicious activity, or foreign currency Transactions, as necessary to comply with the law and to detect and prevent illegal activity. There are serious civil and criminal consequences to engaging in illegal financial transactions. 14. Limitation of Bank’s Liability: The Bank shall not be liable to the Card Holder or to any third party, for any loss or damage suffered due to the following reasons: a) Any action carried out by the Bank, in good faith, based upon the instructions of the Card Holder, exercising due diligence and reasonable care; b) Any unauthorized and illegal Transactions occurring through the use of Bank Account(s), which can be attributed to the fraudulent or negligent conduct of the Card Holder, to the extent permitted by law; c) Any ATM or Merchant Establishment refusal to honor the Card, for whatever reason; d) Intrusion or hacking into the computer system/network or communication network of the Bank, to the extent permitted by law; e) Failure to carry out any instructions of the Card Holder due to insufficiency of balance in the Card Holder’s Account(s) or if the card Holder’s funds are subject to legal process or other restriction; f) Failure of the Card Holder to access the Account due to any Force Majeure Event, Technical Problems, or any other reason beyond the control of the Bank; g) Failure of the Card Holder to keep confidential and secure, PIN or any passwords, keywords or other identification marks given to the Card Holder for operating of the Account and/or Card; h) Failure of the Card Holder to inform the Bank regarding any changes in the Card Holder’s personal information; i) Breach of any of the other terms and conditions stated herein or in the Customer Manual by the Card Holder; j) Non-debiting of Transaction amount instantly through ATM or Merchant Transactions;
q. Unauthorized Transactions: Tell us at once if you believe your Card has been lost or stolen, or if you believe that an electronic fund transfer has been made without your permission. Telephoning is the best way of keeping your possible losses down. If you tell us within 2 business days after you learn of the loss or theft of your Card, you can lose no more than $50 if someone used your Card without your permission.) If you do NOT tell us within 2 business days after you learn of the loss or theft of your Card, and we can prove we could have stopped someone from using your Card without your permission if you had told us, you could lose as much as $500. Also, if your statement shows transfers that you did not make, including those made by card, code or other means, tell us at once. If you do not tell us within 60 days after the statement was mailed to you, you may not get back any money you lost after the 60 days if we can prove that we could have stopped someone from taking the money if you had told us in time. If a good reason (such as a long trip or a hospital stay) kept you from telling us, we will extend the time periods. A Lost or Stolen Card may be reported by contacting: 1-800-523-4175. This toll-free number is available 24-hours a day. In case you wish to send us letter, our address is State Bank of India, Deposit Section, 460 Park Avenue, New York, NY 10022, USA. For purposes of these disclosures, our business days are Monday through Friday. All federal and state bank holidays are not included. Kindly read the Debit Card Agreement available as Annexure B on page 49 for more information relating to Debit Card Services. 10. Remittances: The minimum amount for initiating a remittance is USD 100.00 or its equivalent in other currencies.
State Bank of India New York Customer Manual for Deposits 54 k) Under no circumstances shall the Bank be liable for any damages, whatsoever whether such damages are direct, indirect, incidental, consequential and irrespective of whether any claim is based on loss of revenue, investment, production, goodwill, profit, interruption of business or any other loss of any character of nature whatsoever and whether sustained by the Card Holder or any other third party. 15. Changes in Terms: The Bank may amend this Supplement from time to time in accordance with the changes provided in the Customer Manual. 16. Termination: The Bank reserves the right to cancel or withdraw the Card or any of the other services offered at any time without assigning any reason. a) If the Card Holder closes the Account, the Card(s) issued with the Account will be void. The Card Holder(s) must immediately cease to use the Card and destroy all additional Cards. If there are outstanding Transactions pending to the Account, the same will be netted out from the balance prior to the Bank returning the funds to the Card Holder. If the Account is closed, due to any reason whatsoever, prior to debit of any outstanding Card Transactions, Card Holder is liable to refund the amount along with the interest and charges applicable from time to time.
 If a problem with the Bank’s equipment prevents it from knowing your account balance.
State Bank of India New York Customer Manual for Deposits 25 An explanation of why the substitute check you received is insufficient to confirm that you suffered a loss; and A copy of the substitute check [and/or] the following information to help us identify the substitute check: (identifying information, for example the check number, the name of the person to whom you wrote the check, the amount of the check). [Both a legible copy of the substitute check and the details are preferred for an early response from the Bank] 5. ADDITIONAL INFORMATION ON DEPOSIT ACCOUNTS 5.1 Designation of Beneficiary We have introduced the DOB (Designation of Beneficiary) facility for individual customers. The facility is available to both existing as well as new customers. You can also designate beneficiaries for your existing accounts with us. The DOB form is available on our website https://sbinewyork.statebank. Please read the FAQ below to understand the DOB facility. a) What is the total number of beneficiaries permitted? The total number of beneficiaries will be restricted to four (4). It is Bank’s policy to accept designations where all beneficiaries have equal shares. In the event a beneficiary pre- deceases the account holder(s) the surviving beneficiaries will be entitled to equal shares of the balance of the account.
The Bank shall not be liable to the Card Holder or to any third party, for any loss or damage suffered due to the following reasons: (i) Any action carried out by the Bank, in good faith, based upon the instructions of the Card Holder, exercising due diligence and reasonable care; (ii) Any unauthorized and illegal Transactions occurring through the use of Bank Account(s), which can be attributed to the fraudulent or negligent conduct of the Card Holder, to the extent permitted by law; (iii) Any ATM or Merchant Establishment refusal to honor the Card, for whatever reason; (iv) Intrusion or hacking into the computer system/network or communication network of the Bank, to the extent permitted by law; (v) Failure to carry out any instructions of the Card Holder due to insufficiency of balance in the Card Holder’s Account(s) or if the card holder’s funds are subject to legal process or other restriction; (vi) Failure of the Card Holder to access the Account due to any Force Majeure Event, Technical Problems, or any other reason beyond the control of the Bank; (vii) Failure of the Card Holder to keep confidential and secure, PIN or any passwords, keywords or other identification marks given to the Card Holder for operating of the Account and/or Card; (viii) Failure of the Card Holder to inform the Bank regarding any changes in the Card Holder’s personal information; (ix) Breach of any of the other terms and conditions stated herein or in the Customer Manual by the Card Holder; (x) Non-debiting of Transaction amount instantly through ATM or Merchant Transactions; (xi) Other than to return your funds to you and to properly credit your account, under no circumstances shall the Bank be liable for any damages, whatsoever whether such damages are direct, indirect, incidental, consequential and irrespective of whether any claim is based on loss of revenue, investment, production, goodwill, profit, interruption of business or any other loss of any character of nature whatsoever and whether sustained by the Card Holder or any other third party. 14. Termination: The Bank reserves the right to cancel or withdraw the Card or any of the other services offered at any time without assigning any reason. If the Card Holder closes the Account, the Card(s) issued with the Account will be void. The Card Holder(s) must immediately cease to use the Card and destroy and return all additional Cards. If there are outstanding Transactions pending to the Account, the same will be netted out from the balance prior to the Bank returning the funds to the Card Holder. If the Account is closed, due to any reason whatsoever, prior to debit of any outstanding Card Transactions, Card Holder is liable to refund the amount along with the interest and
Lost or Stolen Card: If the Card is lost or stolen or someone has transferred funds from Card Holder’s Account without his/ her permission, the Card Holder must report the loss to the STAR Network immediately by calling the 24-hour toll-free number shown below or other numbers that may be numbers provided herein. If the Card Holder notifies the Bank within 2 business days of the loss or theft of the Card, the Card Holder’s loss due to unauthorized use of the Card is limited to $50. If the Card Holder does not notify the Bank within 2 business days of the loss or theft of the Card, and the Bank can prove that earlier notification could have prevented the use of the Card, the Card Holder’s liability for the loss could be as much as $500. If the theft is reported after 60 calendar days of the showing of fraud, the card holder may be liable for all unauthorized charges. If you believe that there has been un-authorized transaction(s) using your debit card, please contact us immediately. A Lost or Stolen Card may be reported by contacting: 1-800-523-4175. This toll-free number is available 24-hours a day. 12. Error Resolution: Disputes of ATM or Merchant Establishment Transactions appearing on the Card Holder’s Periodic Statement are subject to the Error Resolution Procedure as mentioned herein. Your rights to a refund or returned merchandise are generally the same as if you had paid by cash or check, and generally must be resolved with the merchant. a) You will get a monthly statement of your Checking/Money Market Account. If you think your statement or receipt is wrong or if you need more information about a transaction listed on the statement, or if you feel that there are other errors or if you have questions about your debit card transactions, please telephone or write to us at the following address: State Bank of India Deposit Section 460 Park Avenue, New York, N.Y 10022 Tel: (212)521-3200/3342 b) For error resolution, we must hear from you no later than 60 days after we sent the first statement on which the problem or error appeared. When writing to us about the error: • Tell us your name and Account number. • Describe the error or the transfer you are unsure about and explain as clearly as you can why you believe it is an error or why you need more information. • Tell us the dollar amount of the error.
Change of Address, e-mail address, telephone number and account details: Bank may ask you to update your account information through remediation form as and when there is any material change, or whenever bank requires. If this information is not provided within a reasonable time (30 days), the Bank may decide to decline further transactions in the account and may also close the account if not received the same in subsequent 60 days. If your signed request for email/phone number change is received through modes other than online banking and over the counter, there will be a 30- day debit restriction on your account. 26 Inactive Accounts / Dormant Account Incomplete requests, requests received without requisite documents will not be accepted for activation. Inactive Accounts / Dormant Accounts Incomplete requests, requests received without requisite documents will not be accepted for activation. During the update of your information and activation process, bank will process a one cent entry (debit/credit transaction) in your account.
• Principal: The exact sum of money deposited in an account or the amount of money borrowed. • Right of Set-Off: Right to adjust any overdue debt from any other account held singly or jointly with us. • Substitute Check: means a paper reproduction of an original check that contains an image of the front and back of the original check, bears a MICR line, and is suitable for automated processing in the same manner as the original check. 7 Privacy Notice: FACTS WHAT DOES STATE BANK OF INDIA (SBI-US) DO WITH YOUR PERSONAL INFORMATION? Why? Financial companies choose how they share your personal information. Federal law gives consumers the right to limit some but not all sharing. Federal law also requires us to tell you how we collect, share, and protect your personal information. Please read this notice carefully to understand what we do. What? The types of personal information we collect and share depend on the product or service you have with us. This information can include: Social Security number and income Account balances and payment history Assets and debt When you are no longer our customer, we continue to share your information as described in this notice.
q. Unauthorized Transactions: Tell us at once if you believe your Card has been lost or stolen, or if you believe that an electronic fund transfer has been made without your permission. Telephoning is the best way of keeping your possible losses down. If you tell us within 2 business days after you learn of the loss or theft of your Card, you can lose no more than $50 if someone used your Card without your permission.) If you do NOT tell us within 2 business days after you learn of the loss or theft of your Card, and we can prove we could have stopped someone from using your Card without your permission if you had told us, you could lose as much as $500. Also, if your statement shows transfers that you did not make, including those made by card, code or other means, tell us at once. If you do not tell us within 60 days after the statement was mailed to you, you may not get back any money you lost after the 60 days if we can prove that we could have stopped someone from taking the money if you had told us in time. If a good reason (such as a long trip or a hospital stay) kept you from telling us, we will extend the time periods. A Lost or Stolen Card may be reported by contacting: 1-800-523-4175. This toll-free number is available 24-hours a day. In case you wish to send us letter, our address is State Bank of India, Deposit Section, 460 Park Avenue, New York, NY 10022, USA. For purposes of these disclosures, our business days are Monday through Friday. All federal and state bank holidays are not included. Kindly read the Debit Card Agreement available as Annexure B on page 49 for more information relating to Debit Card Services. 10. Remittances: The minimum amount for initiating a remittance is USD 100.00 or its equivalent in other currencies.
State Bank of India New York Customer Manual for Deposits 56 and other applicable laws, may keep records or make reports of high-dollar transactions, suspicious activities, or foreign currency transactions, as necessary to comply with the law and to detect and prevent illegal activity. There are serious civil and criminal consequences to engaging in illegal financial transactions. 13. Limitation of Bank’s Liability: If we do not complete a transfer to or from your account on time or in the correct amount according to our agreement with you, we will be liable for your losses or damages as further described herein. However, there are some exceptions. We will not be liable, for instance: (1) If, through no fault of ours, you do not have enough money in your account to make the transfer. (2) If the transfer would go over the credit limit on your overdraft line. (3) If the automated teller machine where you are making the transfer does not have enough cash. (4) If the system was not working properly and you knew about the breakdown when you started the transfer. (5) If circumstances beyond our control (such as fire or flood) prevent the transfer, despite reasonable precautions that we have taken.
State Bank of India New York Customer Manual for Deposits 54 k) Under no circumstances shall the Bank be liable for any damages, whatsoever whether such damages are direct, indirect, incidental, consequential and irrespective of whether any claim is based on loss of revenue, investment, production, goodwill, profit, interruption of business or any other loss of any character of nature whatsoever and whether sustained by the Card Holder or any other third party. 15. Changes in Terms: The Bank may amend this Supplement from time to time in accordance with the changes provided in the Customer Manual. 16. Termination: The Bank reserves the right to cancel or withdraw the Card or any of the other services offered at any time without assigning any reason. a) If the Card Holder closes the Account, the Card(s) issued with the Account will be void. The Card Holder(s) must immediately cease to use the Card and destroy all additional Cards. If there are outstanding Transactions pending to the Account, the same will be netted out from the balance prior to the Bank returning the funds to the Card Holder. If the Account is closed, due to any reason whatsoever, prior to debit of any outstanding Card Transactions, Card Holder is liable to refund the amount along with the interest and charges applicable from time to time.
State Bank of India New York Customer Manual for Deposits 53 c) If you tell us about the error orally, in person or by telephone, we require that you send us your complaint or question in writing within ten business days. d) We shall tell you the results of our preliminary investigation within 10 business days after we hear from you and will correct any error promptly. Sometimes we may take up to 45 days to investigate certain complaints or questions. In such cases, we will provisionally credit your Account upon your indemnifying us within 10 business days for the amount you think is in error, so that you may have the use of the money during the time it takes us to complete our investigation. If we ask you to put your complaint or question in writing and we do not receive it within 10 business days, we may not credit your Account. e) For errors involving new Accounts, point-of-sale, or foreign-initiated transactions, we may take up to 90 days to investigate your complaint or question. For new Accounts we may take up to 20 business days to credit your Account for the amount you think is in error. If we decide there was no error, we will send you a written explanation within three business days after we finish our investigation. You may ask for copies of the documents that we used in our investigation. 13. Anti-Money Laundering: The Bank, to the extent required by federal law under the USA PATRIOT Act and others, may keep records or make reports of high-dollar Transactions, suspicious activity, or foreign currency Transactions, as necessary to comply with the law and to detect and prevent illegal activity. There are serious civil and criminal consequences to engaging in illegal financial transactions. 14. Limitation of Bank’s Liability: The Bank shall not be liable to the Card Holder or to any third party, for any loss or damage suffered due to the following reasons: a) Any action carried out by the Bank, in good faith, based upon the instructions of the Card Holder, exercising due diligence and reasonable care; b) Any unauthorized and illegal Transactions occurring through the use of Bank Account(s), which can be attributed to the fraudulent or negligent conduct of the Card Holder, to the extent permitted by law; c) Any ATM or Merchant Establishment refusal to honor the Card, for whatever reason; d) Intrusion or hacking into the computer system/network or communication network of the Bank, to the extent permitted by law; e) Failure to carry out any instructions of the Card Holder due to insufficiency of balance in the Card Holder’s Account(s) or if the card Holder’s funds are subject to legal process or other restriction; f) Failure of the Card Holder to access the Account due to any Force Majeure Event, Technical Problems, or any other reason beyond the control of the Bank; g) Failure of the Card Holder to keep confidential and secure, PIN or any passwords, keywords or other identification marks given to the Card Holder for operating of the Account and/or Card; h) Failure of the Card Holder to inform the Bank regarding any changes in the Card Holder’s personal information; i) Breach of any of the other terms and conditions stated herein or in the Customer Manual by the Card Holder; j) Non-debiting of Transaction amount instantly through ATM or Merchant Transactions;
State Bank of India New York Customer Manual for Deposits 22 The Bank also reserves the right to close your accounts without any prior notice for any reason in the Bank’s sole discretion. The Bank will mail you a check for the balance in the accounts. The Bank may give you notice before taking this step, although we are not obliged to do so. We also reserve the right to close your account if your account has a NIL balance for more than three (3) months. Payment of interest on your account (if your account is interest-bearing) will cease from the date of closure of the account. Checking and Money Market Deposit Accounts cannot be negotiated or transferred to another individual or corporation or entity. o. Bank’s Liability: If the Bank does not complete a transfer to or from your account in time or for the correct amount as per your agreement with us, we will be liable for your direct losses or damages but not any indirect costs or punitive costs or damages. However, the Bank will not be liable in circumstances such as:  The funds in your account are not sufficient to affect the transfer  The automated teller machine where you were making the transfer has a communication failure.  The automated teller machine did not have enough cash  If circumstances beyond our control prevent the transfer.  If we are unable to confirm the transaction with you (if required)  Any other exceptions stated in our agreement with you.
State Bank of India New York Customer Manual for Deposits 20 If you apply for a duplicate official check or a refund within 180 days of the date of the check, the Bank would require you and the payee to jointly sign an affidavit of loss and indemnity, referred to as Indemnity Agreement. You may also be required to submit a Surety Bond for twice the amount of the instrument or to place sufficient funds as security with us. After 180 days, an affidavit of loss and indemnity alone may suffice. A fee (see “Schedule of Fees & Charges”) will be charged for each stop payment request. i. Your Records: Your cancelled check(s) or substitute check(s), copies of special withdrawal form(s) and acknowledgment(s) on deposit slip(s) are your records. Paid and cancelled checks or substitute checks will be mailed with the statement of accounts to U.S. based customers. The cancelled checks or substitute checks for non-U.S. based accounts will normally be retained by the Bank. j. Statement of Account: Both Checking and Money Market Deposit Accounts are statement accounts. For all active statement accounts (that is, accounts which are not inactive or dormant as explained in Section 5.2) at least once in a calendar month, we will send a statement showing all account activities during the previous statement period. This statement will indicate your balance on the statement date and will give you an itemized, date-wise listing of all credits, all paid checks/ transfers, transactions put through using the linked debit card, interest earned, and any maintenance and service charges levied. It will also indicate the annual percentage yield earned (APYE) in effect during the period, if the account is interest bearing. All statements will be mailed to the last address known to the Bank by regular mail. For additional statements and other modes of sending statements, charges will be extra. No periodic account statements will be sent on CD accounts. Statements of Account are not available online, however, you may view the transactions online through internet banking.

Test Case

Question: What happens if a payment is not received and an instrument is returned unpaid?

Metric Baseline Score Current Score
answer_accuracy 0.81530668 0.82375909 (+0.00845242)
groundedness 0.90095258 0.87416369 (-0.02678889)
mean_answer_similarity 0.88556018 0.88257354 (-0.00298664)
mean_reciprocal_rank 1.00000000 1.00000000
min_answer_similarity 0.81530668 0.82375909 (+0.00845242)
model_failures 0.00000000 0.00000000
model_generation_failures 0.00000000 0.00000000
model_parse_failures 0.00000000 0.00000000
model_passes 1.00000000 1.00000000
model_retrieval_failures 0.00000000 0.00000000
precision_relevancy 0.87356653 0.87136406 (-0.00220247)
recall_relevancy 0.94073323 0.94073323
rouge_1 0.29299363 0.30065359 (+0.00765996)
rouge_2 0.24516129 0.25165563 (+0.00649434)
rouge_l 0.25477707 0.26143791 (+0.00666084)

Legend:

  • Metric : The evaluation metric name. Shown in bold red if the metric flipped between pass/fail status.
  • Baseline Score : The metric value for the baseline model. Shown in bold green if baseline won, red if lost.
  • Current Score : The metric value for the current model, followed by the delta from baseline in parentheses.
  • Delta Colors : Green = improvement, Orange = regression, Red = metric flipped to fail.
  • Winner Determination : For each metric, the winner is determined by comparing scores while considering the metric's directionality (higher is better vs. lower is better).
Baseline Result Current Result
Model claude-3-7-sonnet-20250219@h2ogpte claude-3-7-sonnet-20250219@h2ogpte
Question What happens if a payment is not received and an instrument is returned unpaid?
Expected answer The Bank shall have the right to charge back the item to the customer's account, and a service charge will also be levied
Actual Answer According to the document, if a payment is not received and an instrument is returned unpaid, the Bank has the right to charge back the item to your account. Additionally, a service charge will be levied for checks returned unpaid. This is stated on page 17 of the Customer Manual for Deposits under section "d. The Bank as Collecting Agent" which specifies: "All items will be credited subject to actual payment" and "If payment is not received and the instrument is returned unpaid, the Bank shall have the right to charge back the item to your account. A service charge will also be levied for checks returned unpaid." The document also indicates in the "Schedule of Fees & Charges" on page 46 that there is a fee of $10 for "Deposited checks returned unpaid." According to the document, if a payment is not received and an instrument is returned unpaid, the Bank has the right to charge back the item to your account. Additionally, a service charge will be levied for checks returned unpaid. This information is specifically mentioned on page 17 of the Customer Manual for Deposits under section "d. The Bank as Collecting Agent" which states: "All items will be credited subject to actual payment. If payment is not received and the instrument is returned unpaid, the Bank shall have the right to charge back the item to your account. A service charge will also be levied for checks returned unpaid." The Schedule of Fees & Charges on page 46 indicates that there is a $10 fee for "Deposited checks returned unpaid."
Retrieved Context
c. Deposits: You can make deposits: • By check in person, during regular banking hours at the teller counter at the Bank. (Our regular banking hours are 9 AM - 4 PM ET Monday through Friday. Cash services are available only up to 3 PM ET) • By check in mail • By wire transfer • By pre-authorized credit such as for Social Security benefits • By cash in person, at our discretion Cash deposits may be subject to the Bank Secrecy Act reporting provisions. You may be asked to show a valid state id for cash deposit. There are no restrictions on the number of deposits in both Checking and Money Market Deposit Accounts. Funds will be made available in Checking Accounts as described in section 8 “Funds Availability.” The Bank maintains the right, for any reason or for no reason, to refuse to accept a deposit, or return in full or in part any deposit. Note - Check received in mail on any given day will be processed only on next business day. d. The Bank as Collecting Agent: The Bank accepts items for deposit or collection, as your collecting agent, subject to the following conditions:  All items will be credited subject to actual payment.  If payment is not received and the instrument is returned unpaid, the Bank shall have the right to charge back the item to your account. A service charge will also be levied for checks returned unpaid.
e. Withdrawals: When writing checks on your Checking or Money Market Deposit Account, please ensure that:  The amount is stated in US dollars;  The amount is within the available balance in your account. The available balance in your account may be affected because of other transactions, including debit card transactions. Checks which exceed the available balance in your account may be returned unpaid and are subject to a charge as indicated in “Schedule of Fees & Charges”. The Bank reserves the right to pay a stale check, i.e., a check more than 6 months old. A request for a withdrawal or transfer may not be honored in circumstances such as, but not limited to, these:  If the Bank has instructions to the contrary from a joint account holder. In such cases the signatures of all account holders would be required on any authorization.  If a court order/legal process prohibits the Bank from doing so.  If the Bank suspects fraud or violation, including money laundering.  If there is a dispute to the Bank’s knowledge.  If the account is pledged as collateral and has been set-off against overdue debts.  If the account is seized by State /Federal agency.  If the payee is not properly identified to us.  If the withdrawal/transfer exceeds the permissible number (e.g., more than 6 checks per statement period in Money Market Deposit Accounts).
State Bank of India New York Customer Manual for Deposits 24 IMPORTANT INFORMATION ABOUT SUBSTITUTE CHECKS AND YOUR RIGHTS What is a substitute check? To make check processing faster, federal law permits banks to replace original checks with "substitute checks." These checks are similar to original checks with a slightly reduced image of the front and back of the original check. The front of a substitute check states: "This is a legal copy of your check. You can use it the same way you would use the original check." You may use a substitute check as proof of payment just like the original check. Some or all of the checks that you receive back from us may be substitute checks. This notice describes rights you have when you receive substitute checks from us. The rights in this notice do not apply to original checks or to electronic debits to your account. However, you have rights under other law with respect to those transactions. What are your rights regarding substitute check? In certain cases, federal law provides a special procedure that allows you to request a refund for losses you suffer if a substitute check is posted to your account (for example, if you think that we withdrew the wrong amount from your account or that we withdrew money from your account more than once for the same check). The losses you may attempt to recover under this procedure may include the amount that was withdrawn from your account and fees that were charged as a result of the withdrawal (for example, bounced check fees). The amount of your refund under this procedure is limited to the amount of your loss or the amount of the substitute check, whichever is less. You also are entitled to interest on the amount of your refund if your account is an interest-bearing account. If your loss exceeds the amount of the substitute check, you may be able to recover additional amounts under other law. If you use this procedure, you may receive up to $2,500 of your refund (plus interest if your account earns interest) within 10 business days after we received your claim and the remainder of your refund (plus interest if your account earns interest) not later than 45 calendar days after we received your claim. We may reverse the refund (including any interest on the refund) if we later are able to demonstrate that the substitute check was correctly posted to your account. How can you make a claim for a refund? If you believe that you have suffered a loss relating to a substitute check that you received and that was posted to your account, please contact us by phone at (212)521-3286/3318 or by postal mail at our mailing address. You must contact us within 40 calendar days of the date that we mailed (or otherwise delivered by a means to which you agreed) the substitute check in question or the account statement showing that the substitute check was posted to your account, whichever is later. We may extend this time period if you were not able to make a timely claim because of extraordinary circumstances. Your claim must be made in writing on the prescribed form, be signed by you and include: A description of why you have suffered a loss (e.g. you think the amount withdrawn was incorrect); An estimate of the amount of your loss;
State Bank of India New York Customer Manual for Deposits 20 If you apply for a duplicate official check or a refund within 180 days of the date of the check, the Bank would require you and the payee to jointly sign an affidavit of loss and indemnity, referred to as Indemnity Agreement. You may also be required to submit a Surety Bond for twice the amount of the instrument or to place sufficient funds as security with us. After 180 days, an affidavit of loss and indemnity alone may suffice. A fee (see “Schedule of Fees & Charges”) will be charged for each stop payment request. i. Your Records: Your cancelled check(s) or substitute check(s), copies of special withdrawal form(s) and acknowledgment(s) on deposit slip(s) are your records. Paid and cancelled checks or substitute checks will be mailed with the statement of accounts to U.S. based customers. The cancelled checks or substitute checks for non-U.S. based accounts will normally be retained by the Bank. j. Statement of Account: Both Checking and Money Market Deposit Accounts are statement accounts. For all active statement accounts (that is, accounts which are not inactive or dormant as explained in Section 5.2) at least once in a calendar month, we will send a statement showing all account activities during the previous statement period. This statement will indicate your balance on the statement date and will give you an itemized, date-wise listing of all credits, all paid checks/ transfers, transactions put through using the linked debit card, interest earned, and any maintenance and service charges levied. It will also indicate the annual percentage yield earned (APYE) in effect during the period, if the account is interest bearing. All statements will be mailed to the last address known to the Bank by regular mail. For additional statements and other modes of sending statements, charges will be extra. No periodic account statements will be sent on CD accounts. Statements of Account are not available online, however, you may view the transactions online through internet banking.
 If you have repeatedly overdrawn your account in the last 6 months, i.e., (i) on six or more business days on which we were open during the last 6 months or (ii) on two or more business days on which we were open during the last 6 months with an overdraft equal to or exceeding $5,525 each time. For this purpose, your account will be considered overdrawn even if checks issued by you, which would have resulted in an overdraft of $5,525 or more, had they been paid, were actually returned unpaid.  There is an emergency such as a failure of communications, or computer equipment, or war, or suspension of payment by another bank.  Funds availability in respect of FRB and Federal Home Loan Bank checks, certified, cashier’s, teller’s and official checks, as well as in respect of item 3 of the chart, may be delayed beyond the
Lost or Stolen Card: If the Card is lost or stolen or someone has transferred funds from Card Holder’s Account without his/ her permission, the Card Holder must report the loss to the STAR Network immediately by calling the 24-hour toll-free number shown below or other numbers that may be numbers provided herein. If the Card Holder notifies the Bank within 2 business days of the loss or theft of the Card, the Card Holder’s loss due to unauthorized use of the Card is limited to $50. If the Card Holder does not notify the Bank within 2 business days of the loss or theft of the Card, and the Bank can prove that earlier notification could have prevented the use of the Card, the Card Holder’s liability for the loss could be as much as $500. If the theft is reported after 60 calendar days of the showing of fraud, the card holder may be liable for all unauthorized charges. If you believe that there has been un-authorized transaction(s) using your debit card, please contact us immediately. A Lost or Stolen Card may be reported by contacting: 1-800-523-4175. This toll-free number is available 24-hours a day. 12. Error Resolution: Disputes of ATM or Merchant Establishment Transactions appearing on the Card Holder’s Periodic Statement are subject to the Error Resolution Procedure as mentioned herein. Your rights to a refund or returned merchandise are generally the same as if you had paid by cash or check, and generally must be resolved with the merchant. a) You will get a monthly statement of your Checking/Money Market Account. If you think your statement or receipt is wrong or if you need more information about a transaction listed on the statement, or if you feel that there are other errors or if you have questions about your debit card transactions, please telephone or write to us at the following address: State Bank of India Deposit Section 460 Park Avenue, New York, N.Y 10022 Tel: (212)521-3200/3342 b) For error resolution, we must hear from you no later than 60 days after we sent the first statement on which the problem or error appeared. When writing to us about the error: • Tell us your name and Account number. • Describe the error or the transfer you are unsure about and explain as clearly as you can why you believe it is an error or why you need more information. • Tell us the dollar amount of the error.
k. Account Discrepancies: You must examine your statement of account and paid checks promptly and notify the Bank within 14 days, from the date of receipt of statement, of any discrepancies. If the discrepancy concerns an electronic funds transfer (e.g., Social Security credits, debit card or ACH transactions), then this notification should be made within 60 days of the Bank’s transmittal of the statement. If we do not hear from you within this period, we will assume that the statement is correct. Failure to examine your monthly statement and not reporting discrepancies to the Bank may also adversely affect your legal rights. For example, if you fail to notify us promptly on a forged check, you may lose your right to be reimbursed for a similar forgery, should one occur later. The Bank shall have the right to debit your accounts to recover any funds erroneously credited and to make good any shortfall from any other account you may have with us. Your accounts could be debited for any improper Government payments received by the Bank. If there is still a shortfall, you agree to repay us the amount owing. Interest paid on the erroneous credit will also be recovered. Further the Bank shall have right to recover funds from you if your account does not have sufficient funds to honor a pre-approved transaction done at a Merchant Establishment using your debit card or on account of other such transactions done using your debit card. Any two occurrences of your account having in-sufficient funds to cover a pre-approved/ authorized debit card transaction will lead to closure of your account and cancellation of the linked debit card facility. For account discrepancies you may call us at (212) 521-3283/ 3318 / 3286.
State Bank of India New York Customer Manual for Deposits 33 3. All checks other than those in item 1&2 $ 225 or the amount of the check, whichever is less on 1st business day after deposit day. Tuesday Balance or $5300 whichever is less on 2nd business day after day of deposit. Wednesday Balance, if any, on 3rd business day after day of deposit. Thursday 4 ACH deposits initiated through Internet Banking 4th working day from date of initiation of ACH transfer (if initiated before 4:00 pm ET) Thursday at 3:00 pm ET Note: If you deposit multiple checks from item 3 above on the same day aggregating more than $225, only $225 will be made available in the checking account on the first business day after the day of deposit and not $225 from each check. h. Exceptions to the Availability Schedules in the Chart New Accounts: For the first 30 calendar days after your account has been opened, any check covered by item 3 of the chart will be available to you on the 8th business day after the day of the deposit. Other Exceptions: Funds availability in respect of item 3 of the chart may be delayed beyond the time periods specified for their normal availability for any of the following reasons:  If you redeposit a check that has been returned unpaid for insufficient funds.  If you deposit checks totaling more than $5,525 on any one business day. This exception can also be invoked for checks covered in item 2 of the chart.
State Bank of India New York Customer Manual for Deposits 19  If there is no prior, agreed arrangement regarding the mode of conveying payment instruction. f. Cash Withdrawal: You may withdraw in cash from your Money Market Deposit Account and from your Checking Account, up to your available balance, at the teller counter of the Bank by using special withdrawal forms or through your personalized checks. The teller may ask you to provide a valid State ID for cash withdrawal. You may also withdraw cash from your Money Market Deposit Account or Checking Account at an ATM machine using the debit card associated to your account up to the permissible limits. Checks up to $3,000, written by you on your Checking Account or Money Market Deposit Account to another person as payee, will be paid to that person when he/she presents suitable identification. For checks over $3,000 the Bank reserves the right to ask a payee to deposit the check in a bank account, unless you have made a prior written request that we cash the check and we have agreed to your request. h. Stop Payment Order: Any one of the account holders can instruct us in writing to stop payment on any check unless it has already been paid. In respect of a certified check or cashier’s/official check, the remitter or payee can instruct us, at any time up to 90 days from the date of issue, for reasons such as instrument destroyed, lost or in wrongful possession of an unknown person, or a person that cannot be found or is not amenable to service of process, if the check has not already been paid. You can also stop check online through “YONO US Portal” by using your login credentials. The maximum number of checks in a range which can be stopped in single attempt is 10. The charges shall be as enumerated in “Schedule of Fees & Charges”.
State Bank of India New York Customer Manual for Deposits 21 l. Charges: We reserve the right to charge your account in accordance with the “Schedule of Fees & Charges” in circumstances such as, but not limited to, the following: • If a check deposited by you has been returned unpaid. • If there are insufficient funds in your account to cover a check you have issued. • If you use a service that involves a fee or a charge, e.g., issue of official checks or recovery of charges by a bank through which a wire transfer has been sent. • If there is a monthly service charge due to non-maintenance of minimum balance. • If we are required to comply with any legal process in connection with your account. • If you desire stop payment of a check. • If a postdated check written by you has been returned unpaid. • If we confirm the balance in your account to a third party under your authorization. • If you desire us to furnish credit information related to your account. • If you desire copies of your records. • If you give us a standing instruction. The Bank will not be responsible if it refuses to pay a check you have issued if there are not enough funds in the account after we have deducted a service charge.
Lost or Stolen Card: If the Card is lost or stolen or someone has transferred funds from Card Holder’s Account without his/ her permission, the Card Holder must report the loss to the STAR Network immediately by calling the 24-hour toll-free number shown below or other numbers that may be numbers provided herein. If the Card Holder notifies the Bank within 2 business days of the loss or theft of the Card, the Card Holder’s loss due to unauthorized use of the Card is limited to $50. If the Card Holder does not notify the Bank within 2 business days of the loss or theft of the Card, and the Bank can prove that earlier notification could have prevented the use of the Card, the Card Holder’s liability for the loss could be as much as $500. If the theft is reported after 60 calendar days of the showing of fraud, the card holder may be liable for all unauthorized charges. If you believe that there has been un-authorized transaction(s) using your debit card, please contact us immediately. A Lost or Stolen Card may be reported by contacting: 1-800-523-4175. This toll-free number is available 24-hours a day. 12. Error Resolution: Disputes of ATM or Merchant Establishment Transactions appearing on the Card Holder’s Periodic Statement are subject to the Error Resolution Procedure as mentioned herein. Your rights to a refund or returned merchandise are generally the same as if you had paid by cash or check, and generally must be resolved with the merchant. a) You will get a monthly statement of your Checking/Money Market Account. If you think your statement or receipt is wrong or if you need more information about a transaction listed on the statement, or if you feel that there are other errors or if you have questions about your debit card transactions, please telephone or write to us at the following address: State Bank of India Deposit Section 460 Park Avenue, New York, N.Y 10022 Tel: (212)521-3200/3342 b) For error resolution, we must hear from you no later than 60 days after we sent the first statement on which the problem or error appeared. When writing to us about the error: • Tell us your name and Account number. • Describe the error or the transfer you are unsure about and explain as clearly as you can why you believe it is an error or why you need more information. • Tell us the dollar amount of the error.
State Bank of India New York Customer Manual for Deposits 24 IMPORTANT INFORMATION ABOUT SUBSTITUTE CHECKS AND YOUR RIGHTS What is a substitute check? To make check processing faster, federal law permits banks to replace original checks with "substitute checks." These checks are similar to original checks with a slightly reduced image of the front and back of the original check. The front of a substitute check states: "This is a legal copy of your check. You can use it the same way you would use the original check." You may use a substitute check as proof of payment just like the original check. Some or all of the checks that you receive back from us may be substitute checks. This notice describes rights you have when you receive substitute checks from us. The rights in this notice do not apply to original checks or to electronic debits to your account. However, you have rights under other law with respect to those transactions. What are your rights regarding substitute check? In certain cases, federal law provides a special procedure that allows you to request a refund for losses you suffer if a substitute check is posted to your account (for example, if you think that we withdrew the wrong amount from your account or that we withdrew money from your account more than once for the same check). The losses you may attempt to recover under this procedure may include the amount that was withdrawn from your account and fees that were charged as a result of the withdrawal (for example, bounced check fees). The amount of your refund under this procedure is limited to the amount of your loss or the amount of the substitute check, whichever is less. You also are entitled to interest on the amount of your refund if your account is an interest-bearing account. If your loss exceeds the amount of the substitute check, you may be able to recover additional amounts under other law. If you use this procedure, you may receive up to $2,500 of your refund (plus interest if your account earns interest) within 10 business days after we received your claim and the remainder of your refund (plus interest if your account earns interest) not later than 45 calendar days after we received your claim. We may reverse the refund (including any interest on the refund) if we later are able to demonstrate that the substitute check was correctly posted to your account. How can you make a claim for a refund? If you believe that you have suffered a loss relating to a substitute check that you received and that was posted to your account, please contact us by phone at (212)521-3286/3318 or by postal mail at our mailing address. You must contact us within 40 calendar days of the date that we mailed (or otherwise delivered by a means to which you agreed) the substitute check in question or the account statement showing that the substitute check was posted to your account, whichever is later. We may extend this time period if you were not able to make a timely claim because of extraordinary circumstances. Your claim must be made in writing on the prescribed form, be signed by you and include: A description of why you have suffered a loss (e.g. you think the amount withdrawn was incorrect); An estimate of the amount of your loss;
e. Withdrawals: When writing checks on your Checking or Money Market Deposit Account, please ensure that:  The amount is stated in US dollars;  The amount is within the available balance in your account. The available balance in your account may be affected because of other transactions, including debit card transactions. Checks which exceed the available balance in your account may be returned unpaid and are subject to a charge as indicated in “Schedule of Fees & Charges”. The Bank reserves the right to pay a stale check, i.e., a check more than 6 months old. A request for a withdrawal or transfer may not be honored in circumstances such as, but not limited to, these:  If the Bank has instructions to the contrary from a joint account holder. In such cases the signatures of all account holders would be required on any authorization.  If a court order/legal process prohibits the Bank from doing so.  If the Bank suspects fraud or violation, including money laundering.  If there is a dispute to the Bank’s knowledge.  If the account is pledged as collateral and has been set-off against overdue debts.  If the account is seized by State /Federal agency.  If the payee is not properly identified to us.  If the withdrawal/transfer exceeds the permissible number (e.g., more than 6 checks per statement period in Money Market Deposit Accounts).
• Principal: The exact sum of money deposited in an account or the amount of money borrowed. • Right of Set-Off: Right to adjust any overdue debt from any other account held singly or jointly with us. • Substitute Check: means a paper reproduction of an original check that contains an image of the front and back of the original check, bears a MICR line, and is suitable for automated processing in the same manner as the original check. 7 Privacy Notice: FACTS WHAT DOES STATE BANK OF INDIA (SBI-US) DO WITH YOUR PERSONAL INFORMATION? Why? Financial companies choose how they share your personal information. Federal law gives consumers the right to limit some but not all sharing. Federal law also requires us to tell you how we collect, share, and protect your personal information. Please read this notice carefully to understand what we do. What? The types of personal information we collect and share depend on the product or service you have with us. This information can include: Social Security number and income Account balances and payment history Assets and debt When you are no longer our customer, we continue to share your information as described in this notice.
c. Deposits: You can make deposits: • By check in person, during regular banking hours at the teller counter at the Bank. (Our regular banking hours are 9 AM - 4 PM ET Monday through Friday. Cash services are available only up to 3 PM ET) • By check in mail • By wire transfer • By pre-authorized credit such as for Social Security benefits • By cash in person, at our discretion Cash deposits may be subject to the Bank Secrecy Act reporting provisions. You may be asked to show a valid state id for cash deposit. There are no restrictions on the number of deposits in both Checking and Money Market Deposit Accounts. Funds will be made available in Checking Accounts as described in section 8 “Funds Availability.” The Bank maintains the right, for any reason or for no reason, to refuse to accept a deposit, or return in full or in part any deposit. Note - Check received in mail on any given day will be processed only on next business day. d. The Bank as Collecting Agent: The Bank accepts items for deposit or collection, as your collecting agent, subject to the following conditions:  All items will be credited subject to actual payment.  If payment is not received and the instrument is returned unpaid, the Bank shall have the right to charge back the item to your account. A service charge will also be levied for checks returned unpaid.
k. Account Discrepancies: You must examine your statement of account and paid checks promptly and notify the Bank within 14 days, from the date of receipt of statement, of any discrepancies. If the discrepancy concerns an electronic funds transfer (e.g., Social Security credits, debit card or ACH transactions), then this notification should be made within 60 days of the Bank’s transmittal of the statement. If we do not hear from you within this period, we will assume that the statement is correct. Failure to examine your monthly statement and not reporting discrepancies to the Bank may also adversely affect your legal rights. For example, if you fail to notify us promptly on a forged check, you may lose your right to be reimbursed for a similar forgery, should one occur later. The Bank shall have the right to debit your accounts to recover any funds erroneously credited and to make good any shortfall from any other account you may have with us. Your accounts could be debited for any improper Government payments received by the Bank. If there is still a shortfall, you agree to repay us the amount owing. Interest paid on the erroneous credit will also be recovered. Further the Bank shall have right to recover funds from you if your account does not have sufficient funds to honor a pre-approved transaction done at a Merchant Establishment using your debit card or on account of other such transactions done using your debit card. Any two occurrences of your account having in-sufficient funds to cover a pre-approved/ authorized debit card transaction will lead to closure of your account and cancellation of the linked debit card facility. For account discrepancies you may call us at (212) 521-3283/ 3318 / 3286.
State Bank of India New York Customer Manual for Deposits 20 If you apply for a duplicate official check or a refund within 180 days of the date of the check, the Bank would require you and the payee to jointly sign an affidavit of loss and indemnity, referred to as Indemnity Agreement. You may also be required to submit a Surety Bond for twice the amount of the instrument or to place sufficient funds as security with us. After 180 days, an affidavit of loss and indemnity alone may suffice. A fee (see “Schedule of Fees & Charges”) will be charged for each stop payment request. i. Your Records: Your cancelled check(s) or substitute check(s), copies of special withdrawal form(s) and acknowledgment(s) on deposit slip(s) are your records. Paid and cancelled checks or substitute checks will be mailed with the statement of accounts to U.S. based customers. The cancelled checks or substitute checks for non-U.S. based accounts will normally be retained by the Bank. j. Statement of Account: Both Checking and Money Market Deposit Accounts are statement accounts. For all active statement accounts (that is, accounts which are not inactive or dormant as explained in Section 5.2) at least once in a calendar month, we will send a statement showing all account activities during the previous statement period. This statement will indicate your balance on the statement date and will give you an itemized, date-wise listing of all credits, all paid checks/ transfers, transactions put through using the linked debit card, interest earned, and any maintenance and service charges levied. It will also indicate the annual percentage yield earned (APYE) in effect during the period, if the account is interest bearing. All statements will be mailed to the last address known to the Bank by regular mail. For additional statements and other modes of sending statements, charges will be extra. No periodic account statements will be sent on CD accounts. Statements of Account are not available online, however, you may view the transactions online through internet banking.
State Bank of India New York Customer Manual for Deposits 33 3. All checks other than those in item 1&2 $ 225 or the amount of the check, whichever is less on 1st business day after deposit day. Tuesday Balance or $5300 whichever is less on 2nd business day after day of deposit. Wednesday Balance, if any, on 3rd business day after day of deposit. Thursday 4 ACH deposits initiated through Internet Banking 4th working day from date of initiation of ACH transfer (if initiated before 4:00 pm ET) Thursday at 3:00 pm ET Note: If you deposit multiple checks from item 3 above on the same day aggregating more than $225, only $225 will be made available in the checking account on the first business day after the day of deposit and not $225 from each check. h. Exceptions to the Availability Schedules in the Chart New Accounts: For the first 30 calendar days after your account has been opened, any check covered by item 3 of the chart will be available to you on the 8th business day after the day of the deposit. Other Exceptions: Funds availability in respect of item 3 of the chart may be delayed beyond the time periods specified for their normal availability for any of the following reasons:  If you redeposit a check that has been returned unpaid for insufficient funds.  If you deposit checks totaling more than $5,525 on any one business day. This exception can also be invoked for checks covered in item 2 of the chart.
State Bank of India New York Customer Manual for Deposits 19  If there is no prior, agreed arrangement regarding the mode of conveying payment instruction. f. Cash Withdrawal: You may withdraw in cash from your Money Market Deposit Account and from your Checking Account, up to your available balance, at the teller counter of the Bank by using special withdrawal forms or through your personalized checks. The teller may ask you to provide a valid State ID for cash withdrawal. You may also withdraw cash from your Money Market Deposit Account or Checking Account at an ATM machine using the debit card associated to your account up to the permissible limits. Checks up to $3,000, written by you on your Checking Account or Money Market Deposit Account to another person as payee, will be paid to that person when he/she presents suitable identification. For checks over $3,000 the Bank reserves the right to ask a payee to deposit the check in a bank account, unless you have made a prior written request that we cash the check and we have agreed to your request. h. Stop Payment Order: Any one of the account holders can instruct us in writing to stop payment on any check unless it has already been paid. In respect of a certified check or cashier’s/official check, the remitter or payee can instruct us, at any time up to 90 days from the date of issue, for reasons such as instrument destroyed, lost or in wrongful possession of an unknown person, or a person that cannot be found or is not amenable to service of process, if the check has not already been paid. You can also stop check online through “YONO US Portal” by using your login credentials. The maximum number of checks in a range which can be stopped in single attempt is 10. The charges shall be as enumerated in “Schedule of Fees & Charges”.
State Bank of India New York Customer Manual for Deposits 21 l. Charges: We reserve the right to charge your account in accordance with the “Schedule of Fees & Charges” in circumstances such as, but not limited to, the following: • If a check deposited by you has been returned unpaid. • If there are insufficient funds in your account to cover a check you have issued. • If you use a service that involves a fee or a charge, e.g., issue of official checks or recovery of charges by a bank through which a wire transfer has been sent. • If there is a monthly service charge due to non-maintenance of minimum balance. • If we are required to comply with any legal process in connection with your account. • If you desire stop payment of a check. • If a postdated check written by you has been returned unpaid. • If we confirm the balance in your account to a third party under your authorization. • If you desire us to furnish credit information related to your account. • If you desire copies of your records. • If you give us a standing instruction. The Bank will not be responsible if it refuses to pay a check you have issued if there are not enough funds in the account after we have deducted a service charge.

Test Case

Question: What is the minimum daily balance required to be maintained to avoid monthly service charges for a Non-US Resident Consumer Checking Account?

Metric Baseline Score Current Score
answer_accuracy 0.01008646 0.01037037 (+0.00028392)
groundedness 0.92619084 0.90425288 (-0.02193797)
mean_answer_similarity 0.78855465 0.80007496 (+0.01152031)
mean_reciprocal_rank 1.00000000 1.00000000
min_answer_similarity 0.72769304 0.78645959 (+0.05876655)
model_failures 0.00000000 0.00000000
model_generation_failures 0.00000000 0.00000000
model_parse_failures 0.00000000 0.00000000
model_passes 1.00000000 1.00000000
model_retrieval_failures 0.00000000 0.00000000
precision_relevancy 0.89369839 0.89439175 (+0.00069336)
recall_relevancy 0.94480339 0.94480339
rouge_1 0.03174603 0.03333333 (+0.00158730)
rouge_2 0.01612903 0.01694915 (+0.00082012)
rouge_l 0.03174603 0.03333333 (+0.00158730)

Legend:

  • Metric : The evaluation metric name. Shown in bold red if the metric flipped between pass/fail status.
  • Baseline Score : The metric value for the baseline model. Shown in bold green if baseline won, red if lost.
  • Current Score : The metric value for the current model, followed by the delta from baseline in parentheses.
  • Delta Colors : Green = improvement, Orange = regression, Red = metric flipped to fail.
  • Winner Determination : For each metric, the winner is determined by comparing scores while considering the metric's directionality (higher is better vs. lower is better).
Baseline Result Current Result
Model claude-3-7-sonnet-20250219@h2ogpte claude-3-7-sonnet-20250219@h2ogpte
Question What is the minimum daily balance required to be maintained to avoid monthly service charges for a Non-US Resident Consumer Checking Account?
Expected answer $10,000
Actual Answer According to the document, the minimum daily balance required to be maintained to avoid monthly service charges for a Non-US Resident Consumer Checking Account is $10,000. This information is found on page 10 of the "Customer Manual for Deposits" from State Bank of India New York, where it states that for Non-US Resident Consumer Accounts, the minimum daily balance is $10,000. If the balance falls below this minimum on any day of the month, a monthly service charge of $20 (effective 01/01/2020) will be imposed, as indicated on page 45 of the document. The document also notes that checking accounts for Non-US residents are opened at the sole discretion of the Bank and as per its policy. According to the document, the minimum daily balance required to be maintained to avoid monthly service charges for a Non-US Resident Consumer Checking Account is $10,000. This information is found on page 10 of the "Customer Manual for Deposits" from State Bank of India New York, where it shows a table of minimum balance requirements. For Non-US Resident Consumer Accounts, the minimum daily balance is listed as $10,000, while for Non-US Resident Business/Associations accounts, it is $50,000. If the balance falls below this minimum on any day of the month, a monthly service charge of $20 (effective 01/01/2020) will be imposed, as indicated on page 45 of the document.
Retrieved Context
State Bank of India New York Customer Manual for Deposits 45 B. Service Fees & Charges Consumer Accounts Accounts of Business/ Associations Excess Transaction charges – Each transaction in Money Market Accounts in excess of 6 transfers or withdrawals or a combination of these in a statement period. $5 $5 Checks returned or paid against insufficient or unavailable funds # $10 $15 SCHEDULE OF FEES & CHARGES Minimum Balance Requirements & Service Charges Checking Account Money Market Account Consumer A/C Business/Associations Consumer A/c Business/Associations USA Resident Minimum daily balance 1,000 $ 20,000 $2,500 $ 50,000 Monthly service charge (if the balance falls below minimum on any day of the month) $15* (effective 01/01/2020) $ 50 $20* (effective 01/01/2020) $ 50 Non-USA Resident Minimum daily balance Opened at the sole discretion of the Bank and as per its Policy. Minimum balance is $10,000 Opened at the sole discretion of the Bank and as per its Policy. Minimum balance is $ 50,000 Opened at the sole discretion of the Bank and as per its Policy. Minimum balance is $ 25,000 Opened at the sole discretion of the Bank and as per its Policy. Minimum balance is $ 100,000 Monthly service charge (if the balance falls below minimum on any day of the month) $20* (effective 01/01/2020) $50 $25* (effective 01/01/2020) $50 Note : Consumer accounts = Accounts of natural persons
State Bank of India New York Customer Manual for Deposits 11 age or older. For every additional withdrawal or check beyond above mentioned number in a statement cycle, $5 will be recovered e. Restriction on the number of credits/deposits: No restriction. f. Availability of account statement and frequency of monthly statement: Account statements at monthly intervals will be provided. 4.2 Money Market Deposit (MMD) Account This is an interest-bearing account from which withdrawals can be made in accordance with certain prescribed restrictions. Tiered interest rate is available on money market accounts based on the balances available in the account. The minimum deposit required for opening an account is the minimum daily balance requirement for the account which is tabled below. The daily minimum balances required to be maintained to avoid monthly service charges are as follows: Consumer Account Business/ Associations US Resident Customer $2,500 $50,000 Non-US Resident Customer $25,000 $ 100,000 A minimum balance service charge as listed in our “Schedule of Fees & Charges” in this Manual will be imposed every month if the balance in the account falls below the required minimum during any day of a calendar month. If the balance is less than the amount required to be deducted as service charge, the so available balance will be treated as service charges and the account may be closed forthwith, with notice to the customer at the last available address in our records. No overdraft is permitted under any circumstances in this account. Any check presented with insufficient funds will be dishonored. Service charges are listed in our “Schedule of Fees & Charges” in this Manual. A Money Market Deposit Account for Non-US Resident consumer or business/association would be opened at the sole discretion of the Bank and as per its policy, either on the same terms and conditions as for U.S- resident customers or on mutually agreed terms and conditions. Monthly service charges are listed in our “Schedule of Fees & Charges” in this Manual. Early closure fees will apply if you close your account within three months of opening. Other Features of Money Market Deposit Accounts a. Interest Rate: Tiered interest rate is available on MMD accounts based on the balances available in account. Interest rate on these accounts may vary from time to time. The Bank reserves the right to change the rate at any time. There is no limitation as to the percentage amount the interest rate may vary. You may visit our website https://sbinewyork.statebank or call (212) 521-3200 for information on the current rate of interest. b. Payment of Interest: Interest will accrue on your day-end balance. Interest earned during the month will be credited to the account at the close of business on the last business day of the month and will be made available to you on the first business day of the following month. There is no minimum balance required to earn the stated annual percentage yield. For non-cash deposits made into your account (for example checks) interest begins to accrue no later than the business day we receive credit for the deposit of the non-cash items. If the account is closed during the middle of a
State Bank of India New York Customer Manual for Deposits 50 but will be credited back to your Account by the Bank. A Card Holder may withdraw up to $1000.00 per day at ATMs. The Bank reserves the right to lower this limit in case of a technical failure. 9. Debit Card Use with Merchants: The Card is accepted at all electronic Point-of-Sale (POS) terminals at stores and vendors (Merchant Establishments) displaying MasterCard or STAR logos. The Card may be used to make purchases at a chip enabled electronic Point-of-Sale terminal, to pay bills directly by telephone, internet, or other means, or to make other such electronic transfers from an Account. a) Daily Use Limits: A Card Holder may use the Card to make purchases up to $2000.00 per day at Merchant Establishments or such other limits as the Bank may establish from time to time. The Bank may lower these limits in case of a technical failure. b) Debit-card clearing: Debit-card Transactions may clear the Account differently than checks and traditional ATM card transactions. Because these transactions clear differently, the Card Holder should take care to keep an accurate register and monitor the Account’s balance for pending transactions and cleared transactions in order to avoid unwanted fees and other items being returned.
State Bank of India New York Customer Manual for Deposits 20 If you apply for a duplicate official check or a refund within 180 days of the date of the check, the Bank would require you and the payee to jointly sign an affidavit of loss and indemnity, referred to as Indemnity Agreement. You may also be required to submit a Surety Bond for twice the amount of the instrument or to place sufficient funds as security with us. After 180 days, an affidavit of loss and indemnity alone may suffice. A fee (see “Schedule of Fees & Charges”) will be charged for each stop payment request. i. Your Records: Your cancelled check(s) or substitute check(s), copies of special withdrawal form(s) and acknowledgment(s) on deposit slip(s) are your records. Paid and cancelled checks or substitute checks will be mailed with the statement of accounts to U.S. based customers. The cancelled checks or substitute checks for non-U.S. based accounts will normally be retained by the Bank. j. Statement of Account: Both Checking and Money Market Deposit Accounts are statement accounts. For all active statement accounts (that is, accounts which are not inactive or dormant as explained in Section 5.2) at least once in a calendar month, we will send a statement showing all account activities during the previous statement period. This statement will indicate your balance on the statement date and will give you an itemized, date-wise listing of all credits, all paid checks/ transfers, transactions put through using the linked debit card, interest earned, and any maintenance and service charges levied. It will also indicate the annual percentage yield earned (APYE) in effect during the period, if the account is interest bearing. All statements will be mailed to the last address known to the Bank by regular mail. For additional statements and other modes of sending statements, charges will be extra. No periodic account statements will be sent on CD accounts. Statements of Account are not available online, however, you may view the transactions online through internet banking.
State Bank of India New York Customer Manual for Deposits 21 l. Charges: We reserve the right to charge your account in accordance with the “Schedule of Fees & Charges” in circumstances such as, but not limited to, the following: • If a check deposited by you has been returned unpaid. • If there are insufficient funds in your account to cover a check you have issued. • If you use a service that involves a fee or a charge, e.g., issue of official checks or recovery of charges by a bank through which a wire transfer has been sent. • If there is a monthly service charge due to non-maintenance of minimum balance. • If we are required to comply with any legal process in connection with your account. • If you desire stop payment of a check. • If a postdated check written by you has been returned unpaid. • If we confirm the balance in your account to a third party under your authorization. • If you desire us to furnish credit information related to your account. • If you desire copies of your records. • If you give us a standing instruction. The Bank will not be responsible if it refuses to pay a check you have issued if there are not enough funds in the account after we have deducted a service charge.
State Bank of India New York Customer Manual for Deposits 12 month, accrued interest will be credited and paid. Accrued interest will be credited to your account prior to closing the same. c. Compounding Method: Your Money Market Deposit Account earn simple interest on a 360 days’ basis which accrues daily based on the end-of-the-day balance. The daily balance method will be used to calculate the interest on the account. This method applies a daily periodic rate to the principal in the account each day. Although interest accrues daily, you may not withdraw the earnings until the first business day of the following calendar month, when the same is credited into the account, provided the account is not closed. If not withdrawn, interest is added to and becomes part of the account balance. Since interest is added to your total account balance, any credited interest in the account is, effectively, compounded monthly. d. Annual Percentage Yield: The annual percentage yield earned (APYE) for the statement period will be advised with each monthly statement account. e. Withdrawals: A maximum of 6 transfers or withdrawals, or a combination of such transfers or withdrawals, are permitted during a calendar month or statement cycle of at least four weeks. For the purpose of this limit, preauthorized, automatic transfers (including but not limited to transfer from savings deposit for overdraft protection or for direct bill payments) and transfers and withdrawals initiated by telephone, facsimile, or computer and transfers made by check, debit card or other similar order made by the depositor and payable to third parties is included.
State Bank of India New York Customer Manual for Deposits 36 or disclosed to a third party. The security of the PIN is the Card Holder’s responsibility. e. Funds: The Card Holder will maintain sufficient funds in the Account as necessary to cover any transactions at the time they are initiated. The Card Holder should not use or attempt to use the Card without sufficient funds in the Account. In the event of payment/debit made in excess of the balance available in the Account, Card Holder will be responsible to the Bank for the amount of any transaction completed and will also be responsible to the Bank for the Service Fee disclosed in the Schedule of Fees and Charges. h. Periodic Statements: Periodic Statements of the Account will be sent to the Card Holder as provided in Customer Manual. If you expect to receive any preauthorized transfer to your account, you may call 212-521-3286 to determine whether your transfer has been received. e. Expiration/Renewal: The Card is valid up to the last day of the month/year indicated on the Card. A renewal Card shall be sent by the Bank before the expiry of the Card at the discretion of the Bank. The Bank reserves the sole right to renew the Card account on expiry. The Card Holder is responsible for destroying the expired Card. Unless we are notified in writing otherwise, re-issued cards will be sent to your last known address according to the records of the Bank. f. Transfer types and Limitations: The Card is accepted at all electronic chip enabled Point-of-Sale (POS) terminals at stores and vendors (Merchant Establishments) displaying MasterCard or STAR logos. The Card is accepted at STAR Network ATMs and may be accepted at ATMs operated by other banks or financial institutions. The Card may be used to make purchases at an electronic chip enabled Point-of-Sale terminal, to pay bills directly by telephone, internet, or other means, or to make other such electronic transfers from an account. The Card may be used to withdraw cash from the Account, transfer funds between Accounts, and obtain Account balance information. Card Holder is entitled to receive a receipt of ATM Transactions containing sufficient information to identify the transaction and the terminal used. You cannot deposit cash or checks at ATMs. The Bank will have no liability if you deposit cash or checks at an ATM. g. Daily Use Limits: A Card Holder may use the Card to make purchases up to $2000.00 per day at Merchant Establishments or such other limits as the Bank may establish from time to time. The Bank may lower these limits in case of a technical failure. A Card Holder may withdraw up to $1000.00 per day at ATMs. The Bank reserves the right to lower this limit in case of a technical failure. h. Debit-card clearing: Debit-card Transactions may clear the Account differently than checks and traditional ATM card transactions. Because these transactions clear differently, the Card Holders should take care to keep an accurate register and monitor the Account’s balance for pending transactions and cleared transactions in order to avoid unwanted fees and other items being returned. i. Available balance: Each time the Card Holder uses the Card, a hold is immediately placed on funds in the account, reducing the available balance to pay checks and other debits that are presented to the Bank for payment. j. Holds on the account: Typically, debit-card transaction “holds” are for the amount of the actual
State Bank of India New York Customer Manual for Deposits 10 Consumer Account Business/ Associations US Resident $1,000 $20,000 Non- US Resident $10,000 $50,000 A minimum balance service charge as listed in our “Schedule of Fees & Charges” in this Manual will be imposed every month if the balance in the account falls below the required minimum during any day of a calendar month. If the balance is less than the amount required to be deducted as a service charge, the available balance will be treated as service charges and the account may be closed forthwith, with notice to the customer at the last available address in our records. A checking account for a Non US resident consumer or business/association will be opened at the sole discretion of the Bank and as per its policy, either on the same terms and conditions as for U.S.-resident customers or on separate terms and conditions. No overdraft is permitted under any circumstances in this account. Any check presented with insufficient funds will be dishonored. Service charges are listed in our “Schedule of Fees & Charges” in this Manual. Early closure fees will apply if you close your account within three months of opening. The Bank will provide a statement of account at monthly intervals. 4.1.1 Basic Checking Account In order to provide low cost banking services, we offer “basic banking” checking accounts to all consumers who fulfill the following requirements: • Residents of New York State. • The consumer is required to close all other transaction accounts with our Bank or any other banking institution and will be given a period of 60 days (from the date the basic banking account is opened) to do so. If other transaction account/s is/are not closed within 60 days, the said basic checking account shall be closed by the Bank. • Receive direct credit of a recurring payment such as Social Security, wages or pension payments. • Have limited monthly transactions. • Desire basic checking services. Salient Features of Basic Checking Accounts a. Minimum deposit to open the account: $25. b. Minimum monthly balance required to be maintained: No minimum balance. c. Monthly maintenance fee: i) Nil, if the daily balance is $500 or more. ii) Otherwise $3 per month.
3.5 Limited Liability Company (“LLC”) The following documents are required:  The LLC’s organizational documents (Articles of Organization and Operating Agreement)  The names of all the members and managers of the LLC shall be provided with all the same identification as required for corporations above.  A certified copy of a resolution of the Managers of the LLC providing all the same information required in the corporate resolution set forth above.  Certificate of Beneficial owners, wherever applicable. 4. TYPES OF ACCOUNTS Three types of deposit accounts may be opened:  Checking Account  Money Market Deposit (MMD) Account  Certificate of Deposit (CD) Account 4.1 Checking Account This is a non-interest bearing account with no restrictions on the number of withdrawals or credits. However, Bank has the discretion to pay interest on a product variant. The minimum deposit required for opening an account is the minimum daily balance requirement for the account which is tabled below. The daily minimum balance required to be maintained to avoid monthly service charges are as follows:
State Bank of India New York Customer Manual for Deposits 14 Type US Resident Non-US Resident Consumer accounts $5,000 $10,000 Accounts of Businesses $10,000 $10,000 f. Early Withdrawal Penalty: The principal amount of CD cannot usually be withdrawn before the maturity date, unless the Bank consents to the withdrawal as a special case. We may require that all holders of a joint account authorize a premature withdrawal of the principal from a CD account. Partial withdrawal is not permitted. The penalty for early withdrawals of CD is as follows: Term of Deposit No of Days for which Interest will be recovered 14 days 14 days 1 month to less than 1 year 30 days 1 year to less than 3 years 60 days 3 years to less than 5 years 120 days 5 years & over 180 days The penalty will be calculated at the same interest rate of the deposit. A penalty will not be charged if the premature withdrawal is caused by the death of the depositor or if the depositor is declared legally incompetent. g. Principal Protection: SBI New York Certificate of Deposit comes with “Principal Protection” feature. The penalty for early withdrawal would be limited up to the amount of interest paid / payable and will not result in reduction of the amount originally deposited. h. Renewal: If your CD is for a term of more than 30 days, we will send you a maturity notice not less than 14 days and not more than 30 days prior to the maturity date. No maturity notice will be sent for Certificate of Deposit with term of 30 days or less.
State Bank of India New York Customer Manual for Deposits 11 age or older. For every additional withdrawal or check beyond above mentioned number in a statement cycle, $5 will be recovered e. Restriction on the number of credits/deposits: No restriction. f. Availability of account statement and frequency of monthly statement: Account statements at monthly intervals will be provided. 4.2 Money Market Deposit (MMD) Account This is an interest-bearing account from which withdrawals can be made in accordance with certain prescribed restrictions. Tiered interest rate is available on money market accounts based on the balances available in the account. The minimum deposit required for opening an account is the minimum daily balance requirement for the account which is tabled below. The daily minimum balances required to be maintained to avoid monthly service charges are as follows: Consumer Account Business/ Associations US Resident Customer $2,500 $50,000 Non-US Resident Customer $25,000 $ 100,000 A minimum balance service charge as listed in our “Schedule of Fees & Charges” in this Manual will be imposed every month if the balance in the account falls below the required minimum during any day of a calendar month. If the balance is less than the amount required to be deducted as service charge, the so available balance will be treated as service charges and the account may be closed forthwith, with notice to the customer at the last available address in our records. No overdraft is permitted under any circumstances in this account. Any check presented with insufficient funds will be dishonored. Service charges are listed in our “Schedule of Fees & Charges” in this Manual. A Money Market Deposit Account for Non-US Resident consumer or business/association would be opened at the sole discretion of the Bank and as per its policy, either on the same terms and conditions as for U.S- resident customers or on mutually agreed terms and conditions. Monthly service charges are listed in our “Schedule of Fees & Charges” in this Manual. Early closure fees will apply if you close your account within three months of opening. Other Features of Money Market Deposit Accounts a. Interest Rate: Tiered interest rate is available on MMD accounts based on the balances available in account. Interest rate on these accounts may vary from time to time. The Bank reserves the right to change the rate at any time. There is no limitation as to the percentage amount the interest rate may vary. You may visit our website https://sbinewyork.statebank or call (212) 521-3200 for information on the current rate of interest. b. Payment of Interest: Interest will accrue on your day-end balance. Interest earned during the month will be credited to the account at the close of business on the last business day of the month and will be made available to you on the first business day of the following month. There is no minimum balance required to earn the stated annual percentage yield. For non-cash deposits made into your account (for example checks) interest begins to accrue no later than the business day we receive credit for the deposit of the non-cash items. If the account is closed during the middle of a
State Bank of India New York Customer Manual for Deposits 45 B. Service Fees & Charges Consumer Accounts Accounts of Business/ Associations Excess Transaction charges – Each transaction in Money Market Accounts in excess of 6 transfers or withdrawals or a combination of these in a statement period. $5 $5 Checks returned or paid against insufficient or unavailable funds # $10 $15 SCHEDULE OF FEES & CHARGES Minimum Balance Requirements & Service Charges Checking Account Money Market Account Consumer A/C Business/Associations Consumer A/c Business/Associations USA Resident Minimum daily balance 1,000 $ 20,000 $2,500 $ 50,000 Monthly service charge (if the balance falls below minimum on any day of the month) $15* (effective 01/01/2020) $ 50 $20* (effective 01/01/2020) $ 50 Non-USA Resident Minimum daily balance Opened at the sole discretion of the Bank and as per its Policy. Minimum balance is $10,000 Opened at the sole discretion of the Bank and as per its Policy. Minimum balance is $ 50,000 Opened at the sole discretion of the Bank and as per its Policy. Minimum balance is $ 25,000 Opened at the sole discretion of the Bank and as per its Policy. Minimum balance is $ 100,000 Monthly service charge (if the balance falls below minimum on any day of the month) $20* (effective 01/01/2020) $50 $25* (effective 01/01/2020) $50 Note : Consumer accounts = Accounts of natural persons
State Bank of India New York Customer Manual for Deposits 50 but will be credited back to your Account by the Bank. A Card Holder may withdraw up to $1000.00 per day at ATMs. The Bank reserves the right to lower this limit in case of a technical failure. 9. Debit Card Use with Merchants: The Card is accepted at all electronic Point-of-Sale (POS) terminals at stores and vendors (Merchant Establishments) displaying MasterCard or STAR logos. The Card may be used to make purchases at a chip enabled electronic Point-of-Sale terminal, to pay bills directly by telephone, internet, or other means, or to make other such electronic transfers from an Account. a) Daily Use Limits: A Card Holder may use the Card to make purchases up to $2000.00 per day at Merchant Establishments or such other limits as the Bank may establish from time to time. The Bank may lower these limits in case of a technical failure. b) Debit-card clearing: Debit-card Transactions may clear the Account differently than checks and traditional ATM card transactions. Because these transactions clear differently, the Card Holder should take care to keep an accurate register and monitor the Account’s balance for pending transactions and cleared transactions in order to avoid unwanted fees and other items being returned.
State Bank of India New York Customer Manual for Deposits 21 l. Charges: We reserve the right to charge your account in accordance with the “Schedule of Fees & Charges” in circumstances such as, but not limited to, the following: • If a check deposited by you has been returned unpaid. • If there are insufficient funds in your account to cover a check you have issued. • If you use a service that involves a fee or a charge, e.g., issue of official checks or recovery of charges by a bank through which a wire transfer has been sent. • If there is a monthly service charge due to non-maintenance of minimum balance. • If we are required to comply with any legal process in connection with your account. • If you desire stop payment of a check. • If a postdated check written by you has been returned unpaid. • If we confirm the balance in your account to a third party under your authorization. • If you desire us to furnish credit information related to your account. • If you desire copies of your records. • If you give us a standing instruction. The Bank will not be responsible if it refuses to pay a check you have issued if there are not enough funds in the account after we have deducted a service charge.
State Bank of India New York Customer Manual for Deposits 20 If you apply for a duplicate official check or a refund within 180 days of the date of the check, the Bank would require you and the payee to jointly sign an affidavit of loss and indemnity, referred to as Indemnity Agreement. You may also be required to submit a Surety Bond for twice the amount of the instrument or to place sufficient funds as security with us. After 180 days, an affidavit of loss and indemnity alone may suffice. A fee (see “Schedule of Fees & Charges”) will be charged for each stop payment request. i. Your Records: Your cancelled check(s) or substitute check(s), copies of special withdrawal form(s) and acknowledgment(s) on deposit slip(s) are your records. Paid and cancelled checks or substitute checks will be mailed with the statement of accounts to U.S. based customers. The cancelled checks or substitute checks for non-U.S. based accounts will normally be retained by the Bank. j. Statement of Account: Both Checking and Money Market Deposit Accounts are statement accounts. For all active statement accounts (that is, accounts which are not inactive or dormant as explained in Section 5.2) at least once in a calendar month, we will send a statement showing all account activities during the previous statement period. This statement will indicate your balance on the statement date and will give you an itemized, date-wise listing of all credits, all paid checks/ transfers, transactions put through using the linked debit card, interest earned, and any maintenance and service charges levied. It will also indicate the annual percentage yield earned (APYE) in effect during the period, if the account is interest bearing. All statements will be mailed to the last address known to the Bank by regular mail. For additional statements and other modes of sending statements, charges will be extra. No periodic account statements will be sent on CD accounts. Statements of Account are not available online, however, you may view the transactions online through internet banking.
State Bank of India New York Customer Manual for Deposits 36 or disclosed to a third party. The security of the PIN is the Card Holder’s responsibility. e. Funds: The Card Holder will maintain sufficient funds in the Account as necessary to cover any transactions at the time they are initiated. The Card Holder should not use or attempt to use the Card without sufficient funds in the Account. In the event of payment/debit made in excess of the balance available in the Account, Card Holder will be responsible to the Bank for the amount of any transaction completed and will also be responsible to the Bank for the Service Fee disclosed in the Schedule of Fees and Charges. h. Periodic Statements: Periodic Statements of the Account will be sent to the Card Holder as provided in Customer Manual. If you expect to receive any preauthorized transfer to your account, you may call 212-521-3286 to determine whether your transfer has been received. e. Expiration/Renewal: The Card is valid up to the last day of the month/year indicated on the Card. A renewal Card shall be sent by the Bank before the expiry of the Card at the discretion of the Bank. The Bank reserves the sole right to renew the Card account on expiry. The Card Holder is responsible for destroying the expired Card. Unless we are notified in writing otherwise, re-issued cards will be sent to your last known address according to the records of the Bank. f. Transfer types and Limitations: The Card is accepted at all electronic chip enabled Point-of-Sale (POS) terminals at stores and vendors (Merchant Establishments) displaying MasterCard or STAR logos. The Card is accepted at STAR Network ATMs and may be accepted at ATMs operated by other banks or financial institutions. The Card may be used to make purchases at an electronic chip enabled Point-of-Sale terminal, to pay bills directly by telephone, internet, or other means, or to make other such electronic transfers from an account. The Card may be used to withdraw cash from the Account, transfer funds between Accounts, and obtain Account balance information. Card Holder is entitled to receive a receipt of ATM Transactions containing sufficient information to identify the transaction and the terminal used. You cannot deposit cash or checks at ATMs. The Bank will have no liability if you deposit cash or checks at an ATM. g. Daily Use Limits: A Card Holder may use the Card to make purchases up to $2000.00 per day at Merchant Establishments or such other limits as the Bank may establish from time to time. The Bank may lower these limits in case of a technical failure. A Card Holder may withdraw up to $1000.00 per day at ATMs. The Bank reserves the right to lower this limit in case of a technical failure. h. Debit-card clearing: Debit-card Transactions may clear the Account differently than checks and traditional ATM card transactions. Because these transactions clear differently, the Card Holders should take care to keep an accurate register and monitor the Account’s balance for pending transactions and cleared transactions in order to avoid unwanted fees and other items being returned. i. Available balance: Each time the Card Holder uses the Card, a hold is immediately placed on funds in the account, reducing the available balance to pay checks and other debits that are presented to the Bank for payment. j. Holds on the account: Typically, debit-card transaction “holds” are for the amount of the actual
State Bank of India New York Customer Manual for Deposits 46 Deposited checks returned unpaid # $10 $10 Closing of Checking or Money Market account within 3 months of opening $25 $25 Listing of Stop Payment request valid for 6 months per check, per ACH debit or debit card preauthorized transfers stopped (maximum $50 at one time) $15 $15 Stop Check Request through YONO US Portal (Min. 1 leaf Max: 10 leaves within same range) $15 for one leaf $30 for 2 leaves $45 for 3 leaves $50 for 4-10 leaves Not Applicable Cancellation of Stop Payment request per check, ACH debit or debit card preauthorized transfers stopped $15 $15 Expedited Delivery of Debit Card Actual cost charged by the service provider -- Per item charge for copy of paid checks/deposited checks, withdrawals or tickets - For current calendar year - For previous calendar year - For other years (up to 5 previous years) *per preceding year beyond previous year $5 $10 $15 * $5 $10 $15 * Charges per page of account statements - For current calendar year - For previous calendar year - For all other years (up to 5 previous years) *per preceding year beyond previous year $5 $10 $15 * $5 $10 $15 * Transfer of funds from Checking to MMD or vice-versa (per transfer) / between two accounts Manual transfer Online transfer $5 Free $5 Free Credit reference $10 $10 Issue of local official checks/certified checks $10 $10 Cash handling charges (per thousand or part thereof after first $1000 deposit in a day) NIL for less than $1000 $2 $2
State Bank of India New York Customer Manual for Deposits 10 Consumer Account Business/ Associations US Resident $1,000 $20,000 Non- US Resident $10,000 $50,000 A minimum balance service charge as listed in our “Schedule of Fees & Charges” in this Manual will be imposed every month if the balance in the account falls below the required minimum during any day of a calendar month. If the balance is less than the amount required to be deducted as a service charge, the available balance will be treated as service charges and the account may be closed forthwith, with notice to the customer at the last available address in our records. A checking account for a Non US resident consumer or business/association will be opened at the sole discretion of the Bank and as per its policy, either on the same terms and conditions as for U.S.-resident customers or on separate terms and conditions. No overdraft is permitted under any circumstances in this account. Any check presented with insufficient funds will be dishonored. Service charges are listed in our “Schedule of Fees & Charges” in this Manual. Early closure fees will apply if you close your account within three months of opening. The Bank will provide a statement of account at monthly intervals. 4.1.1 Basic Checking Account In order to provide low cost banking services, we offer “basic banking” checking accounts to all consumers who fulfill the following requirements: • Residents of New York State. • The consumer is required to close all other transaction accounts with our Bank or any other banking institution and will be given a period of 60 days (from the date the basic banking account is opened) to do so. If other transaction account/s is/are not closed within 60 days, the said basic checking account shall be closed by the Bank. • Receive direct credit of a recurring payment such as Social Security, wages or pension payments. • Have limited monthly transactions. • Desire basic checking services. Salient Features of Basic Checking Accounts a. Minimum deposit to open the account: $25. b. Minimum monthly balance required to be maintained: No minimum balance. c. Monthly maintenance fee: i) Nil, if the daily balance is $500 or more. ii) Otherwise $3 per month.
State Bank of India New York Customer Manual for Deposits 3 ANNEXURE A CUSTOMER MANUAL 2024: SCHEDULE OF CHANGES Page Previous Version Current Version 10 Basic Checking Account In order to provide low cost banking services, we offer “basic banking” checking accounts to all consumers who fulfill the following requirements: • Residents of New York State who do not maintain any transaction account with the Bank. Basic Checking Account In order to provide low cost banking services, we offer “basic banking” checking accounts to all consumers who fulfill the following requirements: •Residents of New York State. •The consumer is required to close all other transaction accounts with our Bank or any other banking institution and will be given a period of 60 days (from the date the basic banking account is opened) to do so. If other transaction account/s is/are not closed within 60 days, the said basic checking account shall be closed by the Bank. 21 Change of Address, e-mail address, telephone number and account details: Bank may ask you to update your account information through remediation form as and when there is any material change, or whenever bank requires. If this information is not provided within a reasonable time (30 days), the Bank may decide to decline further transactions in the account and may also close the account if not received the same in 60 days.
3.5 Limited Liability Company (“LLC”) The following documents are required:  The LLC’s organizational documents (Articles of Organization and Operating Agreement)  The names of all the members and managers of the LLC shall be provided with all the same identification as required for corporations above.  A certified copy of a resolution of the Managers of the LLC providing all the same information required in the corporate resolution set forth above.  Certificate of Beneficial owners, wherever applicable. 4. TYPES OF ACCOUNTS Three types of deposit accounts may be opened:  Checking Account  Money Market Deposit (MMD) Account  Certificate of Deposit (CD) Account 4.1 Checking Account This is a non-interest bearing account with no restrictions on the number of withdrawals or credits. However, Bank has the discretion to pay interest on a product variant. The minimum deposit required for opening an account is the minimum daily balance requirement for the account which is tabled below. The daily minimum balance required to be maintained to avoid monthly service charges are as follows:

Test Case

Question: What is the time limit for the Bank to credit the Card Holder's account for the amount of an error?

Metric Baseline Score Current Score
answer_accuracy 0.78392830 0.79934719 (+0.01541889)
groundedness 0.84349527 0.85968509 (+0.01618981)
mean_answer_similarity 0.86891830 0.87223774 (+0.00331944)
mean_reciprocal_rank 1.00000000 1.00000000
min_answer_similarity 0.78392830 0.79934719 (+0.01541889)
model_failures 0.00000000 0.00000000
model_generation_failures 0.00000000 0.00000000
model_parse_failures 0.00000000 0.00000000
model_passes 1.00000000 1.00000000
model_retrieval_failures 0.00000000 0.00000000
precision_relevancy 0.88869305 0.88395632 (-0.00473673)
recall_relevancy 0.92100286 0.92100286
rouge_1 0.17117117 0.17194570 (+0.00077453)
rouge_2 0.13636364 0.14611872 (+0.00975509)
rouge_l 0.16216216 0.16289593 (+0.00073377)

Legend:

  • Metric : The evaluation metric name. Shown in bold red if the metric flipped between pass/fail status.
  • Baseline Score : The metric value for the baseline model. Shown in bold green if baseline won, red if lost.
  • Current Score : The metric value for the current model, followed by the delta from baseline in parentheses.
  • Delta Colors : Green = improvement, Orange = regression, Red = metric flipped to fail.
  • Winner Determination : For each metric, the winner is determined by comparing scores while considering the metric's directionality (higher is better vs. lower is better).
Baseline Result Current Result
Model claude-3-7-sonnet-20250219@h2ogpte claude-3-7-sonnet-20250219@h2ogpte
Question What is the time limit for the Bank to credit the Card Holder's account for the amount of an error?
Expected answer The Bank will credit the Card Holder's account within 10 business days for the amount the Card Holder thinks is in error.
Actual Answer According to the document, the time limit for the Bank to credit the Card Holder's account for the amount of an error varies depending on the situation: 1. For standard error investigations: - The Bank will determine whether an error occurred within 10 business days after hearing from the customer - If they need more time to investigate, they may take up to 45 days - In this case, they will credit the account within 10 business days for the disputed amount so the customer has use of the money during the investigation period 2. For special cases: - For errors involving new accounts, point-of-sale, or foreign-initiated transactions: - The Bank may take up to 20 business days to credit the account for new accounts - The Bank may take up to 90 days to complete the investigation for these types of transactions The document also notes that if the Bank asks the customer to put their complaint in writing and doesn't receive it within 10 business days, they may not credit the account during the investigation period. These timeframes are specified on pages 52 and 55 of the Customer Manual for Deposits as part of the Error Resolution procedures. According to the document, the time limit for the Bank to credit the Card Holder's account for the amount of an error varies depending on the situation: 1. For standard error investigations: - The Bank will determine whether an error occurred within 10 business days after hearing from the customer - If they need more time to investigate, they may take up to 45 days - In this case, they will credit the account within 10 business days for the disputed amount so the customer has use of the money during the investigation period 2. For special cases: - For errors involving new accounts, point-of-sale, or foreign-initiated transactions: - The Bank may take up to 90 days to investigate the complaint or question - For new accounts specifically, they may take up to 20 business days to credit the account for the disputed amount The document also notes that if the Bank asks the customer to put their complaint in writing and doesn't receive it within 10 business days, they may not credit the account during the investigation period. These timeframes are outlined in the error resolution procedures described on pages 54-55 of the Customer Manual for Deposits.
Retrieved Context
State Bank of India New York Customer Manual for Deposits 53 c) If you tell us about the error orally, in person or by telephone, we require that you send us your complaint or question in writing within ten business days. d) We shall tell you the results of our preliminary investigation within 10 business days after we hear from you and will correct any error promptly. Sometimes we may take up to 45 days to investigate certain complaints or questions. In such cases, we will provisionally credit your Account upon your indemnifying us within 10 business days for the amount you think is in error, so that you may have the use of the money during the time it takes us to complete our investigation. If we ask you to put your complaint or question in writing and we do not receive it within 10 business days, we may not credit your Account. e) For errors involving new Accounts, point-of-sale, or foreign-initiated transactions, we may take up to 90 days to investigate your complaint or question. For new Accounts we may take up to 20 business days to credit your Account for the amount you think is in error. If we decide there was no error, we will send you a written explanation within three business days after we finish our investigation. You may ask for copies of the documents that we used in our investigation. 13. Anti-Money Laundering: The Bank, to the extent required by federal law under the USA PATRIOT Act and others, may keep records or make reports of high-dollar Transactions, suspicious activity, or foreign currency Transactions, as necessary to comply with the law and to detect and prevent illegal activity. There are serious civil and criminal consequences to engaging in illegal financial transactions. 14. Limitation of Bank’s Liability: The Bank shall not be liable to the Card Holder or to any third party, for any loss or damage suffered due to the following reasons: a) Any action carried out by the Bank, in good faith, based upon the instructions of the Card Holder, exercising due diligence and reasonable care; b) Any unauthorized and illegal Transactions occurring through the use of Bank Account(s), which can be attributed to the fraudulent or negligent conduct of the Card Holder, to the extent permitted by law; c) Any ATM or Merchant Establishment refusal to honor the Card, for whatever reason; d) Intrusion or hacking into the computer system/network or communication network of the Bank, to the extent permitted by law; e) Failure to carry out any instructions of the Card Holder due to insufficiency of balance in the Card Holder’s Account(s) or if the card Holder’s funds are subject to legal process or other restriction; f) Failure of the Card Holder to access the Account due to any Force Majeure Event, Technical Problems, or any other reason beyond the control of the Bank; g) Failure of the Card Holder to keep confidential and secure, PIN or any passwords, keywords or other identification marks given to the Card Holder for operating of the Account and/or Card; h) Failure of the Card Holder to inform the Bank regarding any changes in the Card Holder’s personal information; i) Breach of any of the other terms and conditions stated herein or in the Customer Manual by the Card Holder; j) Non-debiting of Transaction amount instantly through ATM or Merchant Transactions;
The Bank shall not be liable to the Card Holder or to any third party, for any loss or damage suffered due to the following reasons: (i) Any action carried out by the Bank, in good faith, based upon the instructions of the Card Holder, exercising due diligence and reasonable care; (ii) Any unauthorized and illegal Transactions occurring through the use of Bank Account(s), which can be attributed to the fraudulent or negligent conduct of the Card Holder, to the extent permitted by law; (iii) Any ATM or Merchant Establishment refusal to honor the Card, for whatever reason; (iv) Intrusion or hacking into the computer system/network or communication network of the Bank, to the extent permitted by law; (v) Failure to carry out any instructions of the Card Holder due to insufficiency of balance in the Card Holder’s Account(s) or if the card holder’s funds are subject to legal process or other restriction; (vi) Failure of the Card Holder to access the Account due to any Force Majeure Event, Technical Problems, or any other reason beyond the control of the Bank; (vii) Failure of the Card Holder to keep confidential and secure, PIN or any passwords, keywords or other identification marks given to the Card Holder for operating of the Account and/or Card; (viii) Failure of the Card Holder to inform the Bank regarding any changes in the Card Holder’s personal information; (ix) Breach of any of the other terms and conditions stated herein or in the Customer Manual by the Card Holder; (x) Non-debiting of Transaction amount instantly through ATM or Merchant Transactions; (xi) Other than to return your funds to you and to properly credit your account, under no circumstances shall the Bank be liable for any damages, whatsoever whether such damages are direct, indirect, incidental, consequential and irrespective of whether any claim is based on loss of revenue, investment, production, goodwill, profit, interruption of business or any other loss of any character of nature whatsoever and whether sustained by the Card Holder or any other third party. 14. Termination: The Bank reserves the right to cancel or withdraw the Card or any of the other services offered at any time without assigning any reason. If the Card Holder closes the Account, the Card(s) issued with the Account will be void. The Card Holder(s) must immediately cease to use the Card and destroy and return all additional Cards. If there are outstanding Transactions pending to the Account, the same will be netted out from the balance prior to the Bank returning the funds to the Card Holder. If the Account is closed, due to any reason whatsoever, prior to debit of any outstanding Card Transactions, Card Holder is liable to refund the amount along with the interest and
b) The Bank shall be entitled to terminate the Card with immediate effect without notice and the Card shall be returned upon the occurrence of any of the following events: • Card Holder’s failure to comply with the terms and conditions herein. • The Card Holder’s default under an agreement or commitment entered into with the Bank. • The Card Holder becomes the subject of any bankruptcy, insolvency proceedings or proceedings of the similar nature. • Demise of the Cardholder. • Failure to maintain minimum required balance to cover transactions. s. Error Resolution: Disputes of ATM or Merchant Establishment Transactions appearing on the Card Holder’s Periodic Statement are subject to the Error Resolution Procedure as mentioned herein. Your rights to a refund or returned merchandise are generally the same as if you had paid by cash or check, and generally must be resolved with the merchant. You will get a monthly statement of your Checking/Money Market account, if the account is not inactive or dormant, which will contain the details of your Debit Card transactions. If you think your statement or receipt is wrong or if you need more information about a transaction listed on the statement, or if you feel that there are other errors or if you have questions about your debit card transactions, please follow the procedures listed here: a) Initial and annual error resolution In Case of Errors or Questions About Your Electronic Transfers telephone or write to us at the following address: State Bank of India Deposit Section 460 Park Avenue, New York, N.Y 10022 Tel: (212)521-3342/3318 as soon as you can, if you think your statement or receipt is wrong or if you need more information about a transfer listed on the statement or receipt. We must hear from you no later than 60 days after we sent the FIRST statement on which the problem or error appeared.
Lost or Stolen Card: If the Card is lost or stolen or someone has transferred funds from Card Holder’s Account without his/ her permission, the Card Holder must report the loss to the STAR Network immediately by calling the 24-hour toll-free number shown below or other numbers that may be numbers provided herein. If the Card Holder notifies the Bank within 2 business days of the loss or theft of the Card, the Card Holder’s loss due to unauthorized use of the Card is limited to $50. If the Card Holder does not notify the Bank within 2 business days of the loss or theft of the Card, and the Bank can prove that earlier notification could have prevented the use of the Card, the Card Holder’s liability for the loss could be as much as $500. If the theft is reported after 60 calendar days of the showing of fraud, the card holder may be liable for all unauthorized charges. If you believe that there has been un-authorized transaction(s) using your debit card, please contact us immediately. A Lost or Stolen Card may be reported by contacting: 1-800-523-4175. This toll-free number is available 24-hours a day. 12. Error Resolution: Disputes of ATM or Merchant Establishment Transactions appearing on the Card Holder’s Periodic Statement are subject to the Error Resolution Procedure as mentioned herein. Your rights to a refund or returned merchandise are generally the same as if you had paid by cash or check, and generally must be resolved with the merchant. a) You will get a monthly statement of your Checking/Money Market Account. If you think your statement or receipt is wrong or if you need more information about a transaction listed on the statement, or if you feel that there are other errors or if you have questions about your debit card transactions, please telephone or write to us at the following address: State Bank of India Deposit Section 460 Park Avenue, New York, N.Y 10022 Tel: (212)521-3200/3342 b) For error resolution, we must hear from you no later than 60 days after we sent the first statement on which the problem or error appeared. When writing to us about the error: • Tell us your name and Account number. • Describe the error or the transfer you are unsure about and explain as clearly as you can why you believe it is an error or why you need more information. • Tell us the dollar amount of the error.
State Bank of India New York Customer Manual for Deposits 51 allow the Card Holder to cancel a hold within MasterCard limits for Transactions that were authorized by the Card Holder. If, however, the Card Holder suspects that a Transaction was fraudulent or otherwise unauthorized, the Card Holder should contact the Merchant and the Bank for possible ways to chargeback the debit. Please see the Error Resolution Procedures in subsequent paras for more information. 10. Cancellation of pre-authorized Transactions scheduled at regular intervals: While a Card Holder is generally not permitted to cancel Debit Card Transactions and holds, the cardholder is permitted to cancel, or place a stop payment, on a pre-authorized transaction scheduled to occur at regular intervals, such as a monthly utility payment or loan installment. Before requesting the Bank for stopping a recurring payment, the cardholder should take up with the merchant/ beneficiary for cancelling/ stopping such payment. The Bank may require details of such request made to the merchant/ beneficiary for acting upon Card Holder’s request. The Card Holder must give the Bank written instructions to cancel or stop such a payment at least three (3) days prior to the scheduled debit. The stop payment instruction should be accompanied with a letter of indemnity signed by the Account holder/ Card Holder. The stop order takes effect when it is recorded on your Account. In case of a pre-authorized recurring transaction, we will need the amount, the scheduled date of debit, name of the beneficiary. In the absence of complete and correct particulars, the stop order would be ineffective. If we fail to stop a payment and if you have requested us well in time and with all the particulars as detailed above, we will be liable for your losses or damages. An oral order is binding upon the Bank only for fourteen days unless confirmed in writing within that period. A written order is effective for only six months unless renewed/cancelled in writing. You may inquire about the status of a pre-authorized transaction by calling us on 212-521-3342 on a business day and during the business hours. A fee of USD 10.00 will be charged for each stop payment request made.
State Bank of India New York Customer Manual for Deposits 55 (1) Tell us your name and account number (if any). (2) Describe the error or the transfer you are unsure about and explain as clearly as you can why you believe it is an error or why you need more information. (3) Tell us the dollar amount of the suspected error. If you inform us orally, we require that you send us your complaint or question in writing within 10 business days. We will determine whether an error occurred within 10 business days after we hear from you and will correct any error promptly. If we need more time, however, we may take up to 45 days to investigate your complaint or question. If we decide to do this, we will credit your account within 10 business days for the amount you think is in error, so that you will have the use of the money during the time it takes us to complete our investigation. If we ask you to put your complaint or question in writing and we do not receive it within 10 business days, we may not credit your account. For errors involving new accounts, point-of-sale, or foreign-initiated transactions, we may take up to 90 days to investigate your complaint or question. For new accounts, we may take up to 20 business days to credit your account for the amount you think is in error. We will tell you the results within three business days after completing our investigation. If we decide that there was no error, we will send you a written explanation. You may ask for copies of the documents that we used in our investigation. (b) Error resolution notice on periodic statements. In Case of Errors or Questions About Your Electronic Transfers telephone or write to us at the following address: State Bank of India Deposit Section 460 Park Avenue, New York, N.Y 10022 Tel: (212)521-3342/3318 as soon as you can, if you think your statement or receipt is wrong or if you need more information about a transfer on the statement or receipt. We must hear from you no later than 60 days after we sent you the FIRST statement on which the error or problem appeared. (1) Tell us your name and account number (if any). (2) Describe the error or the transfer you are unsure about and explain as clearly as you can why you believe it is an error or why you need more information. (3) Tell us the dollar amount of the suspected error. We will investigate your complaint and will correct any error promptly. If we take more than 10 business days to do this, we will credit your account for the amount you think is in error, so that you will have the use of the money during the time it takes us to complete our investigation. 10. Business Days: The Bank’s business days are Monday through Friday, 9:00 a.m. to 4:00 p.m ET (cash services available up to 3:00 pm ET only) not including bank legal holidays. 11.Disclosure of Account Information to Third Parties: We will disclose information to third parties about your account or the transfers you make: (i) Where it is necessary for completing transfers, or (ii) In order to verify the existence and condition of your account for a third party, such as a credit bureau or merchant, or (iii) In order to comply with government agency or court orders, or (iv) as described in our privacy policy included in this agreement.
State Bank of India New York Customer Manual for Deposits 37 purchase, but in some instances, they may be for a different amount as MasterCard’s rules permit "authorization" holds based upon an estimated amount of the transaction, and, in some instances, may include additional amounts authorized under MasterCard’s rules. The Card Holder agrees that such a “hold” may be placed on his account/accounts in the amount authorized. These authorization holds can affect the Card Holder’s available balance for other transactions. The amount of your available balance will be decreased by the amount of the “hold‟ for as long as the “hold‟ is in effect. This means that funds on “hold‟ will not be available for withdrawal, transfer or payment. In each instance, the Card Holder is responsible to the Bank for the amount that the Bank settles based upon either the placed-hold limits or the final amount presented and settled. The Card Holder will remain responsible to the Bank for settlement of all pre-authorized transactions even if such transactions come after the hold is removed. This is another reason that the Card Holder should take care to keep an accurate register and monitor the Account’s balance for pending transactions and cleared transaction to ensure that sufficient funds are in the Account at all times. k. Overdraft on Account of Pre-authorized Transactions: Please note that while the Bank does not provide any overdraft facility on your debit card transactions, the Bank shall have right to recover funds from you if your account gets over-drawn because the Bank has settled a preauthorized transaction done at a Merchant Establishment using your debit card or on account of other such transactions done using your debit card. You agree that you will remain responsible to the Bank for the amount by which your account is overdrawn. Any two occurrences of your account having non- sufficient funds to cover a pre-approved/ authorized debit card transaction will lead to closure of your account and cancellation of the linked debit card facility. l. Cancellation of Merchant debit-card authorizations: Generally, the Bank is not permitted to allow the Card Holder to cancel a hold within MasterCard limits for Transactions that were authorized by the Card Holder. If, however, the Card Holder suspects that a Transaction was fraudulent or otherwise unauthorized, the Card Holder should contact the Merchant and the Bank for possible ways to chargeback the debit. Please see the Error Resolution Procedures in subsequent paragraphs for more information. m. Notice Regarding Money Market Deposit Accounts: If the Account is a Money Market Deposit Account, certain limitations on transactions apply. A maximum of 6 transfers or withdrawals, or a combination of such transfers or withdrawals, are permitted during a calendar month or statement cycle of at least four weeks, including transfers or withdrawal by check, ACH to third parties, and/or Debit Card transactions with Merchant Establishments. However, any number of the following transactions using the Debit Card at an ATM are permitted: transfers of funds between your own Accounts held with the Bank and balance inquiries. n. International Transactions: Additionally, Card Holders may use the Card at ATMs and Merchant Establishments in U.S. and India. Any transaction done in INR will be converted to U.S. dollars. The exchange rate is established by MasterCard and not the Bank. The use of the Card may also be restricted with respect to certain foreign countries as required by U.S. laws and regulations. Any offer or option for exchange rate given by any ATM machine is no way related to SBI NY Branch and they are offered by local ATM service provider. Your account will be debited based upon the option selected by you.
State Bank of India New York Customer Manual for Deposits 50 but will be credited back to your Account by the Bank. A Card Holder may withdraw up to $1000.00 per day at ATMs. The Bank reserves the right to lower this limit in case of a technical failure. 9. Debit Card Use with Merchants: The Card is accepted at all electronic Point-of-Sale (POS) terminals at stores and vendors (Merchant Establishments) displaying MasterCard or STAR logos. The Card may be used to make purchases at a chip enabled electronic Point-of-Sale terminal, to pay bills directly by telephone, internet, or other means, or to make other such electronic transfers from an Account. a) Daily Use Limits: A Card Holder may use the Card to make purchases up to $2000.00 per day at Merchant Establishments or such other limits as the Bank may establish from time to time. The Bank may lower these limits in case of a technical failure. b) Debit-card clearing: Debit-card Transactions may clear the Account differently than checks and traditional ATM card transactions. Because these transactions clear differently, the Card Holder should take care to keep an accurate register and monitor the Account’s balance for pending transactions and cleared transactions in order to avoid unwanted fees and other items being returned.
State Bank of India New York Customer Manual for Deposits 54 k) Under no circumstances shall the Bank be liable for any damages, whatsoever whether such damages are direct, indirect, incidental, consequential and irrespective of whether any claim is based on loss of revenue, investment, production, goodwill, profit, interruption of business or any other loss of any character of nature whatsoever and whether sustained by the Card Holder or any other third party. 15. Changes in Terms: The Bank may amend this Supplement from time to time in accordance with the changes provided in the Customer Manual. 16. Termination: The Bank reserves the right to cancel or withdraw the Card or any of the other services offered at any time without assigning any reason. a) If the Card Holder closes the Account, the Card(s) issued with the Account will be void. The Card Holder(s) must immediately cease to use the Card and destroy all additional Cards. If there are outstanding Transactions pending to the Account, the same will be netted out from the balance prior to the Bank returning the funds to the Card Holder. If the Account is closed, due to any reason whatsoever, prior to debit of any outstanding Card Transactions, Card Holder is liable to refund the amount along with the interest and charges applicable from time to time.
State Bank of India New York Customer Manual for Deposits 36 or disclosed to a third party. The security of the PIN is the Card Holder’s responsibility. e. Funds: The Card Holder will maintain sufficient funds in the Account as necessary to cover any transactions at the time they are initiated. The Card Holder should not use or attempt to use the Card without sufficient funds in the Account. In the event of payment/debit made in excess of the balance available in the Account, Card Holder will be responsible to the Bank for the amount of any transaction completed and will also be responsible to the Bank for the Service Fee disclosed in the Schedule of Fees and Charges. h. Periodic Statements: Periodic Statements of the Account will be sent to the Card Holder as provided in Customer Manual. If you expect to receive any preauthorized transfer to your account, you may call 212-521-3286 to determine whether your transfer has been received. e. Expiration/Renewal: The Card is valid up to the last day of the month/year indicated on the Card. A renewal Card shall be sent by the Bank before the expiry of the Card at the discretion of the Bank. The Bank reserves the sole right to renew the Card account on expiry. The Card Holder is responsible for destroying the expired Card. Unless we are notified in writing otherwise, re-issued cards will be sent to your last known address according to the records of the Bank. f. Transfer types and Limitations: The Card is accepted at all electronic chip enabled Point-of-Sale (POS) terminals at stores and vendors (Merchant Establishments) displaying MasterCard or STAR logos. The Card is accepted at STAR Network ATMs and may be accepted at ATMs operated by other banks or financial institutions. The Card may be used to make purchases at an electronic chip enabled Point-of-Sale terminal, to pay bills directly by telephone, internet, or other means, or to make other such electronic transfers from an account. The Card may be used to withdraw cash from the Account, transfer funds between Accounts, and obtain Account balance information. Card Holder is entitled to receive a receipt of ATM Transactions containing sufficient information to identify the transaction and the terminal used. You cannot deposit cash or checks at ATMs. The Bank will have no liability if you deposit cash or checks at an ATM. g. Daily Use Limits: A Card Holder may use the Card to make purchases up to $2000.00 per day at Merchant Establishments or such other limits as the Bank may establish from time to time. The Bank may lower these limits in case of a technical failure. A Card Holder may withdraw up to $1000.00 per day at ATMs. The Bank reserves the right to lower this limit in case of a technical failure. h. Debit-card clearing: Debit-card Transactions may clear the Account differently than checks and traditional ATM card transactions. Because these transactions clear differently, the Card Holders should take care to keep an accurate register and monitor the Account’s balance for pending transactions and cleared transactions in order to avoid unwanted fees and other items being returned. i. Available balance: Each time the Card Holder uses the Card, a hold is immediately placed on funds in the account, reducing the available balance to pay checks and other debits that are presented to the Bank for payment. j. Holds on the account: Typically, debit-card transaction “holds” are for the amount of the actual
The Bank shall not be liable to the Card Holder or to any third party, for any loss or damage suffered due to the following reasons: (i) Any action carried out by the Bank, in good faith, based upon the instructions of the Card Holder, exercising due diligence and reasonable care; (ii) Any unauthorized and illegal Transactions occurring through the use of Bank Account(s), which can be attributed to the fraudulent or negligent conduct of the Card Holder, to the extent permitted by law; (iii) Any ATM or Merchant Establishment refusal to honor the Card, for whatever reason; (iv) Intrusion or hacking into the computer system/network or communication network of the Bank, to the extent permitted by law; (v) Failure to carry out any instructions of the Card Holder due to insufficiency of balance in the Card Holder’s Account(s) or if the card holder’s funds are subject to legal process or other restriction; (vi) Failure of the Card Holder to access the Account due to any Force Majeure Event, Technical Problems, or any other reason beyond the control of the Bank; (vii) Failure of the Card Holder to keep confidential and secure, PIN or any passwords, keywords or other identification marks given to the Card Holder for operating of the Account and/or Card; (viii) Failure of the Card Holder to inform the Bank regarding any changes in the Card Holder’s personal information; (ix) Breach of any of the other terms and conditions stated herein or in the Customer Manual by the Card Holder; (x) Non-debiting of Transaction amount instantly through ATM or Merchant Transactions; (xi) Other than to return your funds to you and to properly credit your account, under no circumstances shall the Bank be liable for any damages, whatsoever whether such damages are direct, indirect, incidental, consequential and irrespective of whether any claim is based on loss of revenue, investment, production, goodwill, profit, interruption of business or any other loss of any character of nature whatsoever and whether sustained by the Card Holder or any other third party. 14. Termination: The Bank reserves the right to cancel or withdraw the Card or any of the other services offered at any time without assigning any reason. If the Card Holder closes the Account, the Card(s) issued with the Account will be void. The Card Holder(s) must immediately cease to use the Card and destroy and return all additional Cards. If there are outstanding Transactions pending to the Account, the same will be netted out from the balance prior to the Bank returning the funds to the Card Holder. If the Account is closed, due to any reason whatsoever, prior to debit of any outstanding Card Transactions, Card Holder is liable to refund the amount along with the interest and
State Bank of India New York Customer Manual for Deposits 53 c) If you tell us about the error orally, in person or by telephone, we require that you send us your complaint or question in writing within ten business days. d) We shall tell you the results of our preliminary investigation within 10 business days after we hear from you and will correct any error promptly. Sometimes we may take up to 45 days to investigate certain complaints or questions. In such cases, we will provisionally credit your Account upon your indemnifying us within 10 business days for the amount you think is in error, so that you may have the use of the money during the time it takes us to complete our investigation. If we ask you to put your complaint or question in writing and we do not receive it within 10 business days, we may not credit your Account. e) For errors involving new Accounts, point-of-sale, or foreign-initiated transactions, we may take up to 90 days to investigate your complaint or question. For new Accounts we may take up to 20 business days to credit your Account for the amount you think is in error. If we decide there was no error, we will send you a written explanation within three business days after we finish our investigation. You may ask for copies of the documents that we used in our investigation. 13. Anti-Money Laundering: The Bank, to the extent required by federal law under the USA PATRIOT Act and others, may keep records or make reports of high-dollar Transactions, suspicious activity, or foreign currency Transactions, as necessary to comply with the law and to detect and prevent illegal activity. There are serious civil and criminal consequences to engaging in illegal financial transactions. 14. Limitation of Bank’s Liability: The Bank shall not be liable to the Card Holder or to any third party, for any loss or damage suffered due to the following reasons: a) Any action carried out by the Bank, in good faith, based upon the instructions of the Card Holder, exercising due diligence and reasonable care; b) Any unauthorized and illegal Transactions occurring through the use of Bank Account(s), which can be attributed to the fraudulent or negligent conduct of the Card Holder, to the extent permitted by law; c) Any ATM or Merchant Establishment refusal to honor the Card, for whatever reason; d) Intrusion or hacking into the computer system/network or communication network of the Bank, to the extent permitted by law; e) Failure to carry out any instructions of the Card Holder due to insufficiency of balance in the Card Holder’s Account(s) or if the card Holder’s funds are subject to legal process or other restriction; f) Failure of the Card Holder to access the Account due to any Force Majeure Event, Technical Problems, or any other reason beyond the control of the Bank; g) Failure of the Card Holder to keep confidential and secure, PIN or any passwords, keywords or other identification marks given to the Card Holder for operating of the Account and/or Card; h) Failure of the Card Holder to inform the Bank regarding any changes in the Card Holder’s personal information; i) Breach of any of the other terms and conditions stated herein or in the Customer Manual by the Card Holder; j) Non-debiting of Transaction amount instantly through ATM or Merchant Transactions;
b) The Bank shall be entitled to terminate the Card with immediate effect without notice and the Card shall be returned upon the occurrence of any of the following events: • Card Holder’s failure to comply with the terms and conditions herein. • The Card Holder’s default under an agreement or commitment entered into with the Bank. • The Card Holder becomes the subject of any bankruptcy, insolvency proceedings or proceedings of the similar nature. • Demise of the Cardholder. • Failure to maintain minimum required balance to cover transactions. s. Error Resolution: Disputes of ATM or Merchant Establishment Transactions appearing on the Card Holder’s Periodic Statement are subject to the Error Resolution Procedure as mentioned herein. Your rights to a refund or returned merchandise are generally the same as if you had paid by cash or check, and generally must be resolved with the merchant. You will get a monthly statement of your Checking/Money Market account, if the account is not inactive or dormant, which will contain the details of your Debit Card transactions. If you think your statement or receipt is wrong or if you need more information about a transaction listed on the statement, or if you feel that there are other errors or if you have questions about your debit card transactions, please follow the procedures listed here: a) Initial and annual error resolution In Case of Errors or Questions About Your Electronic Transfers telephone or write to us at the following address: State Bank of India Deposit Section 460 Park Avenue, New York, N.Y 10022 Tel: (212)521-3342/3318 as soon as you can, if you think your statement or receipt is wrong or if you need more information about a transfer listed on the statement or receipt. We must hear from you no later than 60 days after we sent the FIRST statement on which the problem or error appeared.
c) Available balance: Each time the Card Holder uses the Card, a hold is immediately placed on funds in the Account, reducing the available balance to pay checks and other debits that are presented to the Bank for payment. d) Holds on the Account: Typically, debit-card transaction “holds” are for the amount of the actual purchase, but in some instances, they may be for a different amount as MasterCard’s rules permit "authorization" holds based upon an estimated amount of the transaction, and, in some instances, may include additional amounts authorized under MasterCard’s rules. The Card Holder agrees that such a “hold” may be placed on his Account/Accounts in the amount authorized. These authorization holds can affect the Card Holder’s available balance for other transactions. The amount of your available balance will be decreased by the amount of the “hold‟ for as long as the “hold‟ is in effect. This means that funds on “hold‟ will not be available for withdrawal, transfer or payment. In each instance, the Card Holder is responsible to the Bank for the amount that the Bank settles based upon either the placed-hold limits or the final amount presented and settled. The Card Holder will remain responsible to the Bank for settlement of all pre-authorized transactions even if such transactions come after the hold is removed. This is another reason that the Card Holder should take care to keep an accurate register and monitor the Account’s balance for pending transactions and cleared transaction to ensure that sufficient funds are in the Account at all times.
Lost or Stolen Card: If the Card is lost or stolen or someone has transferred funds from Card Holder’s Account without his/ her permission, the Card Holder must report the loss to the STAR Network immediately by calling the 24-hour toll-free number shown below or other numbers that may be numbers provided herein. If the Card Holder notifies the Bank within 2 business days of the loss or theft of the Card, the Card Holder’s loss due to unauthorized use of the Card is limited to $50. If the Card Holder does not notify the Bank within 2 business days of the loss or theft of the Card, and the Bank can prove that earlier notification could have prevented the use of the Card, the Card Holder’s liability for the loss could be as much as $500. If the theft is reported after 60 calendar days of the showing of fraud, the card holder may be liable for all unauthorized charges. If you believe that there has been un-authorized transaction(s) using your debit card, please contact us immediately. A Lost or Stolen Card may be reported by contacting: 1-800-523-4175. This toll-free number is available 24-hours a day. 12. Error Resolution: Disputes of ATM or Merchant Establishment Transactions appearing on the Card Holder’s Periodic Statement are subject to the Error Resolution Procedure as mentioned herein. Your rights to a refund or returned merchandise are generally the same as if you had paid by cash or check, and generally must be resolved with the merchant. a) You will get a monthly statement of your Checking/Money Market Account. If you think your statement or receipt is wrong or if you need more information about a transaction listed on the statement, or if you feel that there are other errors or if you have questions about your debit card transactions, please telephone or write to us at the following address: State Bank of India Deposit Section 460 Park Avenue, New York, N.Y 10022 Tel: (212)521-3200/3342 b) For error resolution, we must hear from you no later than 60 days after we sent the first statement on which the problem or error appeared. When writing to us about the error: • Tell us your name and Account number. • Describe the error or the transfer you are unsure about and explain as clearly as you can why you believe it is an error or why you need more information. • Tell us the dollar amount of the error.
State Bank of India New York Customer Manual for Deposits 55 (1) Tell us your name and account number (if any). (2) Describe the error or the transfer you are unsure about and explain as clearly as you can why you believe it is an error or why you need more information. (3) Tell us the dollar amount of the suspected error. If you inform us orally, we require that you send us your complaint or question in writing within 10 business days. We will determine whether an error occurred within 10 business days after we hear from you and will correct any error promptly. If we need more time, however, we may take up to 45 days to investigate your complaint or question. If we decide to do this, we will credit your account within 10 business days for the amount you think is in error, so that you will have the use of the money during the time it takes us to complete our investigation. If we ask you to put your complaint or question in writing and we do not receive it within 10 business days, we may not credit your account. For errors involving new accounts, point-of-sale, or foreign-initiated transactions, we may take up to 90 days to investigate your complaint or question. For new accounts, we may take up to 20 business days to credit your account for the amount you think is in error. We will tell you the results within three business days after completing our investigation. If we decide that there was no error, we will send you a written explanation. You may ask for copies of the documents that we used in our investigation. (b) Error resolution notice on periodic statements. In Case of Errors or Questions About Your Electronic Transfers telephone or write to us at the following address: State Bank of India Deposit Section 460 Park Avenue, New York, N.Y 10022 Tel: (212)521-3342/3318 as soon as you can, if you think your statement or receipt is wrong or if you need more information about a transfer on the statement or receipt. We must hear from you no later than 60 days after we sent you the FIRST statement on which the error or problem appeared. (1) Tell us your name and account number (if any). (2) Describe the error or the transfer you are unsure about and explain as clearly as you can why you believe it is an error or why you need more information. (3) Tell us the dollar amount of the suspected error. We will investigate your complaint and will correct any error promptly. If we take more than 10 business days to do this, we will credit your account for the amount you think is in error, so that you will have the use of the money during the time it takes us to complete our investigation. 10. Business Days: The Bank’s business days are Monday through Friday, 9:00 a.m. to 4:00 p.m ET (cash services available up to 3:00 pm ET only) not including bank legal holidays. 11.Disclosure of Account Information to Third Parties: We will disclose information to third parties about your account or the transfers you make: (i) Where it is necessary for completing transfers, or (ii) In order to verify the existence and condition of your account for a third party, such as a credit bureau or merchant, or (iii) In order to comply with government agency or court orders, or (iv) as described in our privacy policy included in this agreement.
The following is indicative list of eligible non-limited transactions:  Deposits  ATM Cash withdrawals subject to daily amount limits and sufficient available funds in the account  Withdrawals made in person or by mail at State Bank of India New York  Transfers made in person at State Bank of India New York The following is indicative list of transactions subject to the limit of (SIX) transfers:  Checks, Point of Sale (POS) transactions or debit card purchases  Automatic transfers to another deposit account at SBI, New York  Automatic transfers to a third party or another institution  Telephonic transfers including those initiated by phone call, fax, email through a Bank's representative  Online banking transfers and bill payments Should more than 6 (six) transfers or withdrawals which are subject to the limit, be effected in a month in an MMDA account, an excess check writing fee of $5.00 per excess check or transfer will be levied. Further, if the customer continues to violate the prescribed limit repeatedly, we shall send a letter to the customer, notifying him/her of the violation and also of our policy for reclassifying the account as Checking Account. In case the customer is not agreeable for reclassification, the account will be closed. The Bank reserves the right to enforce this clause if prescribed limits are violated in three consecutive months. We also reserve the right to refuse any transaction(s) which exceed the permissible limit. We are required by law to reserve the right of 7 days’ advance notice before permitting a withdrawal. However, we do not currently exercise this right.
State Bank of India New York Customer Manual for Deposits 37 purchase, but in some instances, they may be for a different amount as MasterCard’s rules permit "authorization" holds based upon an estimated amount of the transaction, and, in some instances, may include additional amounts authorized under MasterCard’s rules. The Card Holder agrees that such a “hold” may be placed on his account/accounts in the amount authorized. These authorization holds can affect the Card Holder’s available balance for other transactions. The amount of your available balance will be decreased by the amount of the “hold‟ for as long as the “hold‟ is in effect. This means that funds on “hold‟ will not be available for withdrawal, transfer or payment. In each instance, the Card Holder is responsible to the Bank for the amount that the Bank settles based upon either the placed-hold limits or the final amount presented and settled. The Card Holder will remain responsible to the Bank for settlement of all pre-authorized transactions even if such transactions come after the hold is removed. This is another reason that the Card Holder should take care to keep an accurate register and monitor the Account’s balance for pending transactions and cleared transaction to ensure that sufficient funds are in the Account at all times. k. Overdraft on Account of Pre-authorized Transactions: Please note that while the Bank does not provide any overdraft facility on your debit card transactions, the Bank shall have right to recover funds from you if your account gets over-drawn because the Bank has settled a preauthorized transaction done at a Merchant Establishment using your debit card or on account of other such transactions done using your debit card. You agree that you will remain responsible to the Bank for the amount by which your account is overdrawn. Any two occurrences of your account having non- sufficient funds to cover a pre-approved/ authorized debit card transaction will lead to closure of your account and cancellation of the linked debit card facility. l. Cancellation of Merchant debit-card authorizations: Generally, the Bank is not permitted to allow the Card Holder to cancel a hold within MasterCard limits for Transactions that were authorized by the Card Holder. If, however, the Card Holder suspects that a Transaction was fraudulent or otherwise unauthorized, the Card Holder should contact the Merchant and the Bank for possible ways to chargeback the debit. Please see the Error Resolution Procedures in subsequent paragraphs for more information. m. Notice Regarding Money Market Deposit Accounts: If the Account is a Money Market Deposit Account, certain limitations on transactions apply. A maximum of 6 transfers or withdrawals, or a combination of such transfers or withdrawals, are permitted during a calendar month or statement cycle of at least four weeks, including transfers or withdrawal by check, ACH to third parties, and/or Debit Card transactions with Merchant Establishments. However, any number of the following transactions using the Debit Card at an ATM are permitted: transfers of funds between your own Accounts held with the Bank and balance inquiries. n. International Transactions: Additionally, Card Holders may use the Card at ATMs and Merchant Establishments in U.S. and India. Any transaction done in INR will be converted to U.S. dollars. The exchange rate is established by MasterCard and not the Bank. The use of the Card may also be restricted with respect to certain foreign countries as required by U.S. laws and regulations. Any offer or option for exchange rate given by any ATM machine is no way related to SBI NY Branch and they are offered by local ATM service provider. Your account will be debited based upon the option selected by you.
State Bank of India New York Customer Manual for Deposits 51 allow the Card Holder to cancel a hold within MasterCard limits for Transactions that were authorized by the Card Holder. If, however, the Card Holder suspects that a Transaction was fraudulent or otherwise unauthorized, the Card Holder should contact the Merchant and the Bank for possible ways to chargeback the debit. Please see the Error Resolution Procedures in subsequent paras for more information. 10. Cancellation of pre-authorized Transactions scheduled at regular intervals: While a Card Holder is generally not permitted to cancel Debit Card Transactions and holds, the cardholder is permitted to cancel, or place a stop payment, on a pre-authorized transaction scheduled to occur at regular intervals, such as a monthly utility payment or loan installment. Before requesting the Bank for stopping a recurring payment, the cardholder should take up with the merchant/ beneficiary for cancelling/ stopping such payment. The Bank may require details of such request made to the merchant/ beneficiary for acting upon Card Holder’s request. The Card Holder must give the Bank written instructions to cancel or stop such a payment at least three (3) days prior to the scheduled debit. The stop payment instruction should be accompanied with a letter of indemnity signed by the Account holder/ Card Holder. The stop order takes effect when it is recorded on your Account. In case of a pre-authorized recurring transaction, we will need the amount, the scheduled date of debit, name of the beneficiary. In the absence of complete and correct particulars, the stop order would be ineffective. If we fail to stop a payment and if you have requested us well in time and with all the particulars as detailed above, we will be liable for your losses or damages. An oral order is binding upon the Bank only for fourteen days unless confirmed in writing within that period. A written order is effective for only six months unless renewed/cancelled in writing. You may inquire about the status of a pre-authorized transaction by calling us on 212-521-3342 on a business day and during the business hours. A fee of USD 10.00 will be charged for each stop payment request made.
State Bank of India New York Customer Manual for Deposits 56 and other applicable laws, may keep records or make reports of high-dollar transactions, suspicious activities, or foreign currency transactions, as necessary to comply with the law and to detect and prevent illegal activity. There are serious civil and criminal consequences to engaging in illegal financial transactions. 13. Limitation of Bank’s Liability: If we do not complete a transfer to or from your account on time or in the correct amount according to our agreement with you, we will be liable for your losses or damages as further described herein. However, there are some exceptions. We will not be liable, for instance: (1) If, through no fault of ours, you do not have enough money in your account to make the transfer. (2) If the transfer would go over the credit limit on your overdraft line. (3) If the automated teller machine where you are making the transfer does not have enough cash. (4) If the system was not working properly and you knew about the breakdown when you started the transfer. (5) If circumstances beyond our control (such as fire or flood) prevent the transfer, despite reasonable precautions that we have taken.

Test Case

Question: What is the time limit to notify the bank of any discrepancies in the account statement?

Metric Baseline Score Current Score
answer_accuracy 0.00700000 0.00709939 (+0.00009939)
groundedness 0.88923395 0.88923395
mean_answer_similarity 0.76276803 0.76170372 (-0.00106431)
mean_reciprocal_rank 1.00000000 1.00000000
min_answer_similarity 0.71430557 0.71430557
model_failures 0.00000000 0.00000000
model_generation_failures 0.00000000 0.00000000
model_parse_failures 0.00000000 0.00000000
model_passes 1.00000000 1.00000000
model_retrieval_failures 0.00000000 0.00000000
precision_relevancy 0.86524832 0.86993553 (+0.00468720)
recall_relevancy 0.92778232 0.92778232
rouge_1 0.02484472 0.02515723 (+0.00031251)
rouge_2 0.01257862 0.01273885 (+0.00016024)
rouge_l 0.02484472 0.02515723 (+0.00031251)

Legend:

  • Metric : The evaluation metric name. Shown in bold red if the metric flipped between pass/fail status.
  • Baseline Score : The metric value for the baseline model. Shown in bold green if baseline won, red if lost.
  • Current Score : The metric value for the current model, followed by the delta from baseline in parentheses.
  • Delta Colors : Green = improvement, Orange = regression, Red = metric flipped to fail.
  • Winner Determination : For each metric, the winner is determined by comparing scores while considering the metric's directionality (higher is better vs. lower is better).
Baseline Result Current Result
Model claude-3-7-sonnet-20250219@h2ogpte claude-3-7-sonnet-20250219@h2ogpte
Question What is the time limit to notify the bank of any discrepancies in the account statement?
Expected answer 14 days
Actual Answer According to the document, there are different time limits for notifying the bank of discrepancies in account statements depending on the type of transaction: 1. For regular account discrepancies (such as with paid checks), customers must examine their statement of account promptly and notify the bank within 14 days from the date of receipt of the statement. 2. For discrepancies concerning electronic funds transfers (such as Social Security credits, debit card or ACH transactions), customers must notify the bank within 60 days of the bank's transmittal of the statement. The document warns that failure to examine monthly statements and report discrepancies to the bank within these timeframes may adversely affect the customer's legal rights. For example, if a customer fails to notify the bank promptly about a forged check, they may lose their right to be reimbursed for similar forgeries in the future. For account discrepancies, customers can call the bank at (212) 521-3283/3318/3286. According to the document, there are different time limits for notifying the bank of discrepancies in account statements depending on the type of transaction: 1. For general account discrepancies and paid checks, customers must examine their statement of account promptly and notify the bank within 14 days from the date of receipt of the statement. 2. For discrepancies concerning electronic funds transfers (such as Social Security credits, debit card or ACH transactions), customers have 60 days from the bank's transmittal of the statement to report the issue. The document warns that failure to examine monthly statements and report discrepancies to the bank within these timeframes may adversely affect the customer's legal rights. For example, if a customer fails to notify the bank promptly about a forged check, they may lose the right to be reimbursed for similar forgeries in the future. For account discrepancies, customers can call the bank at (212) 521-3283/3318/3286.
Retrieved Context
k. Account Discrepancies: You must examine your statement of account and paid checks promptly and notify the Bank within 14 days, from the date of receipt of statement, of any discrepancies. If the discrepancy concerns an electronic funds transfer (e.g., Social Security credits, debit card or ACH transactions), then this notification should be made within 60 days of the Bank’s transmittal of the statement. If we do not hear from you within this period, we will assume that the statement is correct. Failure to examine your monthly statement and not reporting discrepancies to the Bank may also adversely affect your legal rights. For example, if you fail to notify us promptly on a forged check, you may lose your right to be reimbursed for a similar forgery, should one occur later. The Bank shall have the right to debit your accounts to recover any funds erroneously credited and to make good any shortfall from any other account you may have with us. Your accounts could be debited for any improper Government payments received by the Bank. If there is still a shortfall, you agree to repay us the amount owing. Interest paid on the erroneous credit will also be recovered. Further the Bank shall have right to recover funds from you if your account does not have sufficient funds to honor a pre-approved transaction done at a Merchant Establishment using your debit card or on account of other such transactions done using your debit card. Any two occurrences of your account having in-sufficient funds to cover a pre-approved/ authorized debit card transaction will lead to closure of your account and cancellation of the linked debit card facility. For account discrepancies you may call us at (212) 521-3283/ 3318 / 3286.
Lost or Stolen Card: If the Card is lost or stolen or someone has transferred funds from Card Holder’s Account without his/ her permission, the Card Holder must report the loss to the STAR Network immediately by calling the 24-hour toll-free number shown below or other numbers that may be numbers provided herein. If the Card Holder notifies the Bank within 2 business days of the loss or theft of the Card, the Card Holder’s loss due to unauthorized use of the Card is limited to $50. If the Card Holder does not notify the Bank within 2 business days of the loss or theft of the Card, and the Bank can prove that earlier notification could have prevented the use of the Card, the Card Holder’s liability for the loss could be as much as $500. If the theft is reported after 60 calendar days of the showing of fraud, the card holder may be liable for all unauthorized charges. If you believe that there has been un-authorized transaction(s) using your debit card, please contact us immediately. A Lost or Stolen Card may be reported by contacting: 1-800-523-4175. This toll-free number is available 24-hours a day. 12. Error Resolution: Disputes of ATM or Merchant Establishment Transactions appearing on the Card Holder’s Periodic Statement are subject to the Error Resolution Procedure as mentioned herein. Your rights to a refund or returned merchandise are generally the same as if you had paid by cash or check, and generally must be resolved with the merchant. a) You will get a monthly statement of your Checking/Money Market Account. If you think your statement or receipt is wrong or if you need more information about a transaction listed on the statement, or if you feel that there are other errors or if you have questions about your debit card transactions, please telephone or write to us at the following address: State Bank of India Deposit Section 460 Park Avenue, New York, N.Y 10022 Tel: (212)521-3200/3342 b) For error resolution, we must hear from you no later than 60 days after we sent the first statement on which the problem or error appeared. When writing to us about the error: • Tell us your name and Account number. • Describe the error or the transfer you are unsure about and explain as clearly as you can why you believe it is an error or why you need more information. • Tell us the dollar amount of the error.
The following is indicative list of eligible non-limited transactions:  Deposits  ATM Cash withdrawals subject to daily amount limits and sufficient available funds in the account  Withdrawals made in person or by mail at State Bank of India New York  Transfers made in person at State Bank of India New York The following is indicative list of transactions subject to the limit of (SIX) transfers:  Checks, Point of Sale (POS) transactions or debit card purchases  Automatic transfers to another deposit account at SBI, New York  Automatic transfers to a third party or another institution  Telephonic transfers including those initiated by phone call, fax, email through a Bank's representative  Online banking transfers and bill payments Should more than 6 (six) transfers or withdrawals which are subject to the limit, be effected in a month in an MMDA account, an excess check writing fee of $5.00 per excess check or transfer will be levied. Further, if the customer continues to violate the prescribed limit repeatedly, we shall send a letter to the customer, notifying him/her of the violation and also of our policy for reclassifying the account as Checking Account. In case the customer is not agreeable for reclassification, the account will be closed. The Bank reserves the right to enforce this clause if prescribed limits are violated in three consecutive months. We also reserve the right to refuse any transaction(s) which exceed the permissible limit. We are required by law to reserve the right of 7 days’ advance notice before permitting a withdrawal. However, we do not currently exercise this right.
State Bank of India New York Customer Manual for Deposits 56 and other applicable laws, may keep records or make reports of high-dollar transactions, suspicious activities, or foreign currency transactions, as necessary to comply with the law and to detect and prevent illegal activity. There are serious civil and criminal consequences to engaging in illegal financial transactions. 13. Limitation of Bank’s Liability: If we do not complete a transfer to or from your account on time or in the correct amount according to our agreement with you, we will be liable for your losses or damages as further described herein. However, there are some exceptions. We will not be liable, for instance: (1) If, through no fault of ours, you do not have enough money in your account to make the transfer. (2) If the transfer would go over the credit limit on your overdraft line. (3) If the automated teller machine where you are making the transfer does not have enough cash. (4) If the system was not working properly and you knew about the breakdown when you started the transfer. (5) If circumstances beyond our control (such as fire or flood) prevent the transfer, despite reasonable precautions that we have taken.
b) The Bank shall be entitled to terminate the Card with immediate effect without notice and the Card shall be returned upon the occurrence of any of the following events: • Card Holder’s failure to comply with the terms and conditions herein. • The Card Holder’s default under an agreement or commitment entered into with the Bank. • The Card Holder becomes the subject of any bankruptcy, insolvency proceedings or proceedings of the similar nature. • Demise of the Cardholder. • Failure to maintain minimum required balance to cover transactions. s. Error Resolution: Disputes of ATM or Merchant Establishment Transactions appearing on the Card Holder’s Periodic Statement are subject to the Error Resolution Procedure as mentioned herein. Your rights to a refund or returned merchandise are generally the same as if you had paid by cash or check, and generally must be resolved with the merchant. You will get a monthly statement of your Checking/Money Market account, if the account is not inactive or dormant, which will contain the details of your Debit Card transactions. If you think your statement or receipt is wrong or if you need more information about a transaction listed on the statement, or if you feel that there are other errors or if you have questions about your debit card transactions, please follow the procedures listed here: a) Initial and annual error resolution In Case of Errors or Questions About Your Electronic Transfers telephone or write to us at the following address: State Bank of India Deposit Section 460 Park Avenue, New York, N.Y 10022 Tel: (212)521-3342/3318 as soon as you can, if you think your statement or receipt is wrong or if you need more information about a transfer listed on the statement or receipt. We must hear from you no later than 60 days after we sent the FIRST statement on which the problem or error appeared.
• Principal: The exact sum of money deposited in an account or the amount of money borrowed. • Right of Set-Off: Right to adjust any overdue debt from any other account held singly or jointly with us. • Substitute Check: means a paper reproduction of an original check that contains an image of the front and back of the original check, bears a MICR line, and is suitable for automated processing in the same manner as the original check. 7 Privacy Notice: FACTS WHAT DOES STATE BANK OF INDIA (SBI-US) DO WITH YOUR PERSONAL INFORMATION? Why? Financial companies choose how they share your personal information. Federal law gives consumers the right to limit some but not all sharing. Federal law also requires us to tell you how we collect, share, and protect your personal information. Please read this notice carefully to understand what we do. What? The types of personal information we collect and share depend on the product or service you have with us. This information can include: Social Security number and income Account balances and payment history Assets and debt When you are no longer our customer, we continue to share your information as described in this notice.
State Bank of India New York Customer Manual for Deposits 30 offices are collectively referred to as SBI-US in this Notice. What we do How does SBI–US protect my personal information? To protect your personal information from unauthorized access and use, we use security measures that comply with federal law. SBI-US has established physical, technological and procedural systems and controls for protecting the confidentiality of your personal information. SBI-US employees undergo training on protecting customer information. How does SBI–US collect my personal information? We collect your personal information, for example, when you Open an account or deposit money Pay your bills or apply for a loan Use your credit or debit card We also collect your personal information from credit bureaus. Why can't I limit all sharing? Federal law gives you the right to limit only Sharing for affiliates’ everyday business purposes- information about your creditworthiness Affiliates from using your information to market to you Sharing for non-affiliates to market to you State laws and individual companies may give you additional rights to limit sharing. See below for more on your rights under state law.
State Bank of India New York Customer Manual for Deposits 24 IMPORTANT INFORMATION ABOUT SUBSTITUTE CHECKS AND YOUR RIGHTS What is a substitute check? To make check processing faster, federal law permits banks to replace original checks with "substitute checks." These checks are similar to original checks with a slightly reduced image of the front and back of the original check. The front of a substitute check states: "This is a legal copy of your check. You can use it the same way you would use the original check." You may use a substitute check as proof of payment just like the original check. Some or all of the checks that you receive back from us may be substitute checks. This notice describes rights you have when you receive substitute checks from us. The rights in this notice do not apply to original checks or to electronic debits to your account. However, you have rights under other law with respect to those transactions. What are your rights regarding substitute check? In certain cases, federal law provides a special procedure that allows you to request a refund for losses you suffer if a substitute check is posted to your account (for example, if you think that we withdrew the wrong amount from your account or that we withdrew money from your account more than once for the same check). The losses you may attempt to recover under this procedure may include the amount that was withdrawn from your account and fees that were charged as a result of the withdrawal (for example, bounced check fees). The amount of your refund under this procedure is limited to the amount of your loss or the amount of the substitute check, whichever is less. You also are entitled to interest on the amount of your refund if your account is an interest-bearing account. If your loss exceeds the amount of the substitute check, you may be able to recover additional amounts under other law. If you use this procedure, you may receive up to $2,500 of your refund (plus interest if your account earns interest) within 10 business days after we received your claim and the remainder of your refund (plus interest if your account earns interest) not later than 45 calendar days after we received your claim. We may reverse the refund (including any interest on the refund) if we later are able to demonstrate that the substitute check was correctly posted to your account. How can you make a claim for a refund? If you believe that you have suffered a loss relating to a substitute check that you received and that was posted to your account, please contact us by phone at (212)521-3286/3318 or by postal mail at our mailing address. You must contact us within 40 calendar days of the date that we mailed (or otherwise delivered by a means to which you agreed) the substitute check in question or the account statement showing that the substitute check was posted to your account, whichever is later. We may extend this time period if you were not able to make a timely claim because of extraordinary circumstances. Your claim must be made in writing on the prescribed form, be signed by you and include: A description of why you have suffered a loss (e.g. you think the amount withdrawn was incorrect); An estimate of the amount of your loss;
State Bank of India New York Customer Manual for Deposits 20 If you apply for a duplicate official check or a refund within 180 days of the date of the check, the Bank would require you and the payee to jointly sign an affidavit of loss and indemnity, referred to as Indemnity Agreement. You may also be required to submit a Surety Bond for twice the amount of the instrument or to place sufficient funds as security with us. After 180 days, an affidavit of loss and indemnity alone may suffice. A fee (see “Schedule of Fees & Charges”) will be charged for each stop payment request. i. Your Records: Your cancelled check(s) or substitute check(s), copies of special withdrawal form(s) and acknowledgment(s) on deposit slip(s) are your records. Paid and cancelled checks or substitute checks will be mailed with the statement of accounts to U.S. based customers. The cancelled checks or substitute checks for non-U.S. based accounts will normally be retained by the Bank. j. Statement of Account: Both Checking and Money Market Deposit Accounts are statement accounts. For all active statement accounts (that is, accounts which are not inactive or dormant as explained in Section 5.2) at least once in a calendar month, we will send a statement showing all account activities during the previous statement period. This statement will indicate your balance on the statement date and will give you an itemized, date-wise listing of all credits, all paid checks/ transfers, transactions put through using the linked debit card, interest earned, and any maintenance and service charges levied. It will also indicate the annual percentage yield earned (APYE) in effect during the period, if the account is interest bearing. All statements will be mailed to the last address known to the Bank by regular mail. For additional statements and other modes of sending statements, charges will be extra. No periodic account statements will be sent on CD accounts. Statements of Account are not available online, however, you may view the transactions online through internet banking.
State Bank of India New York Customer Manual for Deposits 55 (1) Tell us your name and account number (if any). (2) Describe the error or the transfer you are unsure about and explain as clearly as you can why you believe it is an error or why you need more information. (3) Tell us the dollar amount of the suspected error. If you inform us orally, we require that you send us your complaint or question in writing within 10 business days. We will determine whether an error occurred within 10 business days after we hear from you and will correct any error promptly. If we need more time, however, we may take up to 45 days to investigate your complaint or question. If we decide to do this, we will credit your account within 10 business days for the amount you think is in error, so that you will have the use of the money during the time it takes us to complete our investigation. If we ask you to put your complaint or question in writing and we do not receive it within 10 business days, we may not credit your account. For errors involving new accounts, point-of-sale, or foreign-initiated transactions, we may take up to 90 days to investigate your complaint or question. For new accounts, we may take up to 20 business days to credit your account for the amount you think is in error. We will tell you the results within three business days after completing our investigation. If we decide that there was no error, we will send you a written explanation. You may ask for copies of the documents that we used in our investigation. (b) Error resolution notice on periodic statements. In Case of Errors or Questions About Your Electronic Transfers telephone or write to us at the following address: State Bank of India Deposit Section 460 Park Avenue, New York, N.Y 10022 Tel: (212)521-3342/3318 as soon as you can, if you think your statement or receipt is wrong or if you need more information about a transfer on the statement or receipt. We must hear from you no later than 60 days after we sent you the FIRST statement on which the error or problem appeared. (1) Tell us your name and account number (if any). (2) Describe the error or the transfer you are unsure about and explain as clearly as you can why you believe it is an error or why you need more information. (3) Tell us the dollar amount of the suspected error. We will investigate your complaint and will correct any error promptly. If we take more than 10 business days to do this, we will credit your account for the amount you think is in error, so that you will have the use of the money during the time it takes us to complete our investigation. 10. Business Days: The Bank’s business days are Monday through Friday, 9:00 a.m. to 4:00 p.m ET (cash services available up to 3:00 pm ET only) not including bank legal holidays. 11.Disclosure of Account Information to Third Parties: We will disclose information to third parties about your account or the transfers you make: (i) Where it is necessary for completing transfers, or (ii) In order to verify the existence and condition of your account for a third party, such as a credit bureau or merchant, or (iii) In order to comply with government agency or court orders, or (iv) as described in our privacy policy included in this agreement.
k. Account Discrepancies: You must examine your statement of account and paid checks promptly and notify the Bank within 14 days, from the date of receipt of statement, of any discrepancies. If the discrepancy concerns an electronic funds transfer (e.g., Social Security credits, debit card or ACH transactions), then this notification should be made within 60 days of the Bank’s transmittal of the statement. If we do not hear from you within this period, we will assume that the statement is correct. Failure to examine your monthly statement and not reporting discrepancies to the Bank may also adversely affect your legal rights. For example, if you fail to notify us promptly on a forged check, you may lose your right to be reimbursed for a similar forgery, should one occur later. The Bank shall have the right to debit your accounts to recover any funds erroneously credited and to make good any shortfall from any other account you may have with us. Your accounts could be debited for any improper Government payments received by the Bank. If there is still a shortfall, you agree to repay us the amount owing. Interest paid on the erroneous credit will also be recovered. Further the Bank shall have right to recover funds from you if your account does not have sufficient funds to honor a pre-approved transaction done at a Merchant Establishment using your debit card or on account of other such transactions done using your debit card. Any two occurrences of your account having in-sufficient funds to cover a pre-approved/ authorized debit card transaction will lead to closure of your account and cancellation of the linked debit card facility. For account discrepancies you may call us at (212) 521-3283/ 3318 / 3286.
The following is indicative list of eligible non-limited transactions:  Deposits  ATM Cash withdrawals subject to daily amount limits and sufficient available funds in the account  Withdrawals made in person or by mail at State Bank of India New York  Transfers made in person at State Bank of India New York The following is indicative list of transactions subject to the limit of (SIX) transfers:  Checks, Point of Sale (POS) transactions or debit card purchases  Automatic transfers to another deposit account at SBI, New York  Automatic transfers to a third party or another institution  Telephonic transfers including those initiated by phone call, fax, email through a Bank's representative  Online banking transfers and bill payments Should more than 6 (six) transfers or withdrawals which are subject to the limit, be effected in a month in an MMDA account, an excess check writing fee of $5.00 per excess check or transfer will be levied. Further, if the customer continues to violate the prescribed limit repeatedly, we shall send a letter to the customer, notifying him/her of the violation and also of our policy for reclassifying the account as Checking Account. In case the customer is not agreeable for reclassification, the account will be closed. The Bank reserves the right to enforce this clause if prescribed limits are violated in three consecutive months. We also reserve the right to refuse any transaction(s) which exceed the permissible limit. We are required by law to reserve the right of 7 days’ advance notice before permitting a withdrawal. However, we do not currently exercise this right.
Lost or Stolen Card: If the Card is lost or stolen or someone has transferred funds from Card Holder’s Account without his/ her permission, the Card Holder must report the loss to the STAR Network immediately by calling the 24-hour toll-free number shown below or other numbers that may be numbers provided herein. If the Card Holder notifies the Bank within 2 business days of the loss or theft of the Card, the Card Holder’s loss due to unauthorized use of the Card is limited to $50. If the Card Holder does not notify the Bank within 2 business days of the loss or theft of the Card, and the Bank can prove that earlier notification could have prevented the use of the Card, the Card Holder’s liability for the loss could be as much as $500. If the theft is reported after 60 calendar days of the showing of fraud, the card holder may be liable for all unauthorized charges. If you believe that there has been un-authorized transaction(s) using your debit card, please contact us immediately. A Lost or Stolen Card may be reported by contacting: 1-800-523-4175. This toll-free number is available 24-hours a day. 12. Error Resolution: Disputes of ATM or Merchant Establishment Transactions appearing on the Card Holder’s Periodic Statement are subject to the Error Resolution Procedure as mentioned herein. Your rights to a refund or returned merchandise are generally the same as if you had paid by cash or check, and generally must be resolved with the merchant. a) You will get a monthly statement of your Checking/Money Market Account. If you think your statement or receipt is wrong or if you need more information about a transaction listed on the statement, or if you feel that there are other errors or if you have questions about your debit card transactions, please telephone or write to us at the following address: State Bank of India Deposit Section 460 Park Avenue, New York, N.Y 10022 Tel: (212)521-3200/3342 b) For error resolution, we must hear from you no later than 60 days after we sent the first statement on which the problem or error appeared. When writing to us about the error: • Tell us your name and Account number. • Describe the error or the transfer you are unsure about and explain as clearly as you can why you believe it is an error or why you need more information. • Tell us the dollar amount of the error.
q. Unauthorized Transactions: Tell us at once if you believe your Card has been lost or stolen, or if you believe that an electronic fund transfer has been made without your permission. Telephoning is the best way of keeping your possible losses down. If you tell us within 2 business days after you learn of the loss or theft of your Card, you can lose no more than $50 if someone used your Card without your permission.) If you do NOT tell us within 2 business days after you learn of the loss or theft of your Card, and we can prove we could have stopped someone from using your Card without your permission if you had told us, you could lose as much as $500. Also, if your statement shows transfers that you did not make, including those made by card, code or other means, tell us at once. If you do not tell us within 60 days after the statement was mailed to you, you may not get back any money you lost after the 60 days if we can prove that we could have stopped someone from taking the money if you had told us in time. If a good reason (such as a long trip or a hospital stay) kept you from telling us, we will extend the time periods. A Lost or Stolen Card may be reported by contacting: 1-800-523-4175. This toll-free number is available 24-hours a day. In case you wish to send us letter, our address is State Bank of India, Deposit Section, 460 Park Avenue, New York, NY 10022, USA. For purposes of these disclosures, our business days are Monday through Friday. All federal and state bank holidays are not included. Kindly read the Debit Card Agreement available as Annexure B on page 49 for more information relating to Debit Card Services. 10. Remittances: The minimum amount for initiating a remittance is USD 100.00 or its equivalent in other currencies.
State Bank of India New York Customer Manual for Deposits 56 and other applicable laws, may keep records or make reports of high-dollar transactions, suspicious activities, or foreign currency transactions, as necessary to comply with the law and to detect and prevent illegal activity. There are serious civil and criminal consequences to engaging in illegal financial transactions. 13. Limitation of Bank’s Liability: If we do not complete a transfer to or from your account on time or in the correct amount according to our agreement with you, we will be liable for your losses or damages as further described herein. However, there are some exceptions. We will not be liable, for instance: (1) If, through no fault of ours, you do not have enough money in your account to make the transfer. (2) If the transfer would go over the credit limit on your overdraft line. (3) If the automated teller machine where you are making the transfer does not have enough cash. (4) If the system was not working properly and you knew about the breakdown when you started the transfer. (5) If circumstances beyond our control (such as fire or flood) prevent the transfer, despite reasonable precautions that we have taken.
b) The Bank shall be entitled to terminate the Card with immediate effect without notice and the Card shall be returned upon the occurrence of any of the following events: • Card Holder’s failure to comply with the terms and conditions herein. • The Card Holder’s default under an agreement or commitment entered into with the Bank. • The Card Holder becomes the subject of any bankruptcy, insolvency proceedings or proceedings of the similar nature. • Demise of the Cardholder. • Failure to maintain minimum required balance to cover transactions. s. Error Resolution: Disputes of ATM or Merchant Establishment Transactions appearing on the Card Holder’s Periodic Statement are subject to the Error Resolution Procedure as mentioned herein. Your rights to a refund or returned merchandise are generally the same as if you had paid by cash or check, and generally must be resolved with the merchant. You will get a monthly statement of your Checking/Money Market account, if the account is not inactive or dormant, which will contain the details of your Debit Card transactions. If you think your statement or receipt is wrong or if you need more information about a transaction listed on the statement, or if you feel that there are other errors or if you have questions about your debit card transactions, please follow the procedures listed here: a) Initial and annual error resolution In Case of Errors or Questions About Your Electronic Transfers telephone or write to us at the following address: State Bank of India Deposit Section 460 Park Avenue, New York, N.Y 10022 Tel: (212)521-3342/3318 as soon as you can, if you think your statement or receipt is wrong or if you need more information about a transfer listed on the statement or receipt. We must hear from you no later than 60 days after we sent the FIRST statement on which the problem or error appeared.
• Principal: The exact sum of money deposited in an account or the amount of money borrowed. • Right of Set-Off: Right to adjust any overdue debt from any other account held singly or jointly with us. • Substitute Check: means a paper reproduction of an original check that contains an image of the front and back of the original check, bears a MICR line, and is suitable for automated processing in the same manner as the original check. 7 Privacy Notice: FACTS WHAT DOES STATE BANK OF INDIA (SBI-US) DO WITH YOUR PERSONAL INFORMATION? Why? Financial companies choose how they share your personal information. Federal law gives consumers the right to limit some but not all sharing. Federal law also requires us to tell you how we collect, share, and protect your personal information. Please read this notice carefully to understand what we do. What? The types of personal information we collect and share depend on the product or service you have with us. This information can include: Social Security number and income Account balances and payment history Assets and debt When you are no longer our customer, we continue to share your information as described in this notice.
State Bank of India New York Customer Manual for Deposits 55 (1) Tell us your name and account number (if any). (2) Describe the error or the transfer you are unsure about and explain as clearly as you can why you believe it is an error or why you need more information. (3) Tell us the dollar amount of the suspected error. If you inform us orally, we require that you send us your complaint or question in writing within 10 business days. We will determine whether an error occurred within 10 business days after we hear from you and will correct any error promptly. If we need more time, however, we may take up to 45 days to investigate your complaint or question. If we decide to do this, we will credit your account within 10 business days for the amount you think is in error, so that you will have the use of the money during the time it takes us to complete our investigation. If we ask you to put your complaint or question in writing and we do not receive it within 10 business days, we may not credit your account. For errors involving new accounts, point-of-sale, or foreign-initiated transactions, we may take up to 90 days to investigate your complaint or question. For new accounts, we may take up to 20 business days to credit your account for the amount you think is in error. We will tell you the results within three business days after completing our investigation. If we decide that there was no error, we will send you a written explanation. You may ask for copies of the documents that we used in our investigation. (b) Error resolution notice on periodic statements. In Case of Errors or Questions About Your Electronic Transfers telephone or write to us at the following address: State Bank of India Deposit Section 460 Park Avenue, New York, N.Y 10022 Tel: (212)521-3342/3318 as soon as you can, if you think your statement or receipt is wrong or if you need more information about a transfer on the statement or receipt. We must hear from you no later than 60 days after we sent you the FIRST statement on which the error or problem appeared. (1) Tell us your name and account number (if any). (2) Describe the error or the transfer you are unsure about and explain as clearly as you can why you believe it is an error or why you need more information. (3) Tell us the dollar amount of the suspected error. We will investigate your complaint and will correct any error promptly. If we take more than 10 business days to do this, we will credit your account for the amount you think is in error, so that you will have the use of the money during the time it takes us to complete our investigation. 10. Business Days: The Bank’s business days are Monday through Friday, 9:00 a.m. to 4:00 p.m ET (cash services available up to 3:00 pm ET only) not including bank legal holidays. 11.Disclosure of Account Information to Third Parties: We will disclose information to third parties about your account or the transfers you make: (i) Where it is necessary for completing transfers, or (ii) In order to verify the existence and condition of your account for a third party, such as a credit bureau or merchant, or (iii) In order to comply with government agency or court orders, or (iv) as described in our privacy policy included in this agreement.
State Bank of India New York Customer Manual for Deposits 24 IMPORTANT INFORMATION ABOUT SUBSTITUTE CHECKS AND YOUR RIGHTS What is a substitute check? To make check processing faster, federal law permits banks to replace original checks with "substitute checks." These checks are similar to original checks with a slightly reduced image of the front and back of the original check. The front of a substitute check states: "This is a legal copy of your check. You can use it the same way you would use the original check." You may use a substitute check as proof of payment just like the original check. Some or all of the checks that you receive back from us may be substitute checks. This notice describes rights you have when you receive substitute checks from us. The rights in this notice do not apply to original checks or to electronic debits to your account. However, you have rights under other law with respect to those transactions. What are your rights regarding substitute check? In certain cases, federal law provides a special procedure that allows you to request a refund for losses you suffer if a substitute check is posted to your account (for example, if you think that we withdrew the wrong amount from your account or that we withdrew money from your account more than once for the same check). The losses you may attempt to recover under this procedure may include the amount that was withdrawn from your account and fees that were charged as a result of the withdrawal (for example, bounced check fees). The amount of your refund under this procedure is limited to the amount of your loss or the amount of the substitute check, whichever is less. You also are entitled to interest on the amount of your refund if your account is an interest-bearing account. If your loss exceeds the amount of the substitute check, you may be able to recover additional amounts under other law. If you use this procedure, you may receive up to $2,500 of your refund (plus interest if your account earns interest) within 10 business days after we received your claim and the remainder of your refund (plus interest if your account earns interest) not later than 45 calendar days after we received your claim. We may reverse the refund (including any interest on the refund) if we later are able to demonstrate that the substitute check was correctly posted to your account. How can you make a claim for a refund? If you believe that you have suffered a loss relating to a substitute check that you received and that was posted to your account, please contact us by phone at (212)521-3286/3318 or by postal mail at our mailing address. You must contact us within 40 calendar days of the date that we mailed (or otherwise delivered by a means to which you agreed) the substitute check in question or the account statement showing that the substitute check was posted to your account, whichever is later. We may extend this time period if you were not able to make a timely claim because of extraordinary circumstances. Your claim must be made in writing on the prescribed form, be signed by you and include: A description of why you have suffered a loss (e.g. you think the amount withdrawn was incorrect); An estimate of the amount of your loss;
State Bank of India New York Customer Manual for Deposits 20 If you apply for a duplicate official check or a refund within 180 days of the date of the check, the Bank would require you and the payee to jointly sign an affidavit of loss and indemnity, referred to as Indemnity Agreement. You may also be required to submit a Surety Bond for twice the amount of the instrument or to place sufficient funds as security with us. After 180 days, an affidavit of loss and indemnity alone may suffice. A fee (see “Schedule of Fees & Charges”) will be charged for each stop payment request. i. Your Records: Your cancelled check(s) or substitute check(s), copies of special withdrawal form(s) and acknowledgment(s) on deposit slip(s) are your records. Paid and cancelled checks or substitute checks will be mailed with the statement of accounts to U.S. based customers. The cancelled checks or substitute checks for non-U.S. based accounts will normally be retained by the Bank. j. Statement of Account: Both Checking and Money Market Deposit Accounts are statement accounts. For all active statement accounts (that is, accounts which are not inactive or dormant as explained in Section 5.2) at least once in a calendar month, we will send a statement showing all account activities during the previous statement period. This statement will indicate your balance on the statement date and will give you an itemized, date-wise listing of all credits, all paid checks/ transfers, transactions put through using the linked debit card, interest earned, and any maintenance and service charges levied. It will also indicate the annual percentage yield earned (APYE) in effect during the period, if the account is interest bearing. All statements will be mailed to the last address known to the Bank by regular mail. For additional statements and other modes of sending statements, charges will be extra. No periodic account statements will be sent on CD accounts. Statements of Account are not available online, however, you may view the transactions online through internet banking.

Test Case

Question: What is the time limit to investigate complaints or questions about errors?

Metric Baseline Score Current Score
answer_accuracy 0.79272330 0.83165092 (+0.03892762)
groundedness 0.86858283 0.86858283
mean_answer_similarity 0.82729437 0.83728754 (+0.00999316)
mean_reciprocal_rank 1.00000000 1.00000000
min_answer_similarity 0.79272330 0.83165092 (+0.03892762)
model_failures 0.00000000 0.00000000
model_generation_failures 0.00000000 0.00000000
model_parse_failures 0.00000000 0.00000000
model_passes 1.00000000 1.00000000
model_retrieval_failures 0.00000000 0.00000000
precision_relevancy 0.83528561 0.83246766 (-0.00281795)
recall_relevancy 0.89236846 0.89236846
rouge_1 0.09302326 0.10152284 (+0.00849959)
rouge_2 0.06572770 0.07179487 (+0.00606717)
rouge_l 0.09302326 0.10152284 (+0.00849959)

Legend:

  • Metric : The evaluation metric name. Shown in bold red if the metric flipped between pass/fail status.
  • Baseline Score : The metric value for the baseline model. Shown in bold green if baseline won, red if lost.
  • Current Score : The metric value for the current model, followed by the delta from baseline in parentheses.
  • Delta Colors : Green = improvement, Orange = regression, Red = metric flipped to fail.
  • Winner Determination : For each metric, the winner is determined by comparing scores while considering the metric's directionality (higher is better vs. lower is better).
Baseline Result Current Result
Model claude-3-7-sonnet-20250219@h2ogpte claude-3-7-sonnet-20250219@h2ogpte
Question What is the time limit to investigate complaints or questions about errors?
Expected answer 10 business days, but may take up to 45 days in some cases
Actual Answer According to the document, the time limits for investigating complaints or questions about errors vary depending on the type of transaction: 1. For standard error investigations: - The bank will determine whether an error occurred within 10 business days after hearing from you - If they need more time, they may take up to 45 days to investigate your complaint or question - If they need this extended time, they will credit your account within 10 business days for the disputed amount so you have use of the money during the investigation 2. For specific types of transactions: - For errors involving new accounts, point-of-sale, or foreign-initiated transactions, the bank may take up to 90 days to investigate your complaint or question - For new accounts specifically, they may take up to 20 business days to credit your account for the amount you think is in error The bank will tell you the results within three business days after completing their investigation. If they decide there was no error, they will send you a written explanation. It's important to note that you must report suspected errors within 60 days after the bank sent the FIRST statement on which the problem or error appeared. According to the document, the time limits for investigating complaints or questions about errors vary depending on the type of transaction: 1. For standard error investigations: - The bank will determine whether an error occurred within 10 business days after hearing from you - If they need more time, they may take up to 45 days to investigate your complaint or question 2. For specific types of transactions: - For errors involving new accounts, point-of-sale, or foreign-initiated transactions, the bank may take up to 90 days to investigate your complaint or question 3. For provisional credits: - If the investigation takes more than 10 business days, the bank will credit your account within 10 business days for the amount in question so you have use of the money during the investigation - For new accounts, they may take up to 20 business days to credit your account for the amount you think is in error The document also states that you must report errors within 60 days after the bank sent the first statement on which the problem or error appeared for the bank to investigate.
Retrieved Context
State Bank of India New York Customer Manual for Deposits 53 c) If you tell us about the error orally, in person or by telephone, we require that you send us your complaint or question in writing within ten business days. d) We shall tell you the results of our preliminary investigation within 10 business days after we hear from you and will correct any error promptly. Sometimes we may take up to 45 days to investigate certain complaints or questions. In such cases, we will provisionally credit your Account upon your indemnifying us within 10 business days for the amount you think is in error, so that you may have the use of the money during the time it takes us to complete our investigation. If we ask you to put your complaint or question in writing and we do not receive it within 10 business days, we may not credit your Account. e) For errors involving new Accounts, point-of-sale, or foreign-initiated transactions, we may take up to 90 days to investigate your complaint or question. For new Accounts we may take up to 20 business days to credit your Account for the amount you think is in error. If we decide there was no error, we will send you a written explanation within three business days after we finish our investigation. You may ask for copies of the documents that we used in our investigation. 13. Anti-Money Laundering: The Bank, to the extent required by federal law under the USA PATRIOT Act and others, may keep records or make reports of high-dollar Transactions, suspicious activity, or foreign currency Transactions, as necessary to comply with the law and to detect and prevent illegal activity. There are serious civil and criminal consequences to engaging in illegal financial transactions. 14. Limitation of Bank’s Liability: The Bank shall not be liable to the Card Holder or to any third party, for any loss or damage suffered due to the following reasons: a) Any action carried out by the Bank, in good faith, based upon the instructions of the Card Holder, exercising due diligence and reasonable care; b) Any unauthorized and illegal Transactions occurring through the use of Bank Account(s), which can be attributed to the fraudulent or negligent conduct of the Card Holder, to the extent permitted by law; c) Any ATM or Merchant Establishment refusal to honor the Card, for whatever reason; d) Intrusion or hacking into the computer system/network or communication network of the Bank, to the extent permitted by law; e) Failure to carry out any instructions of the Card Holder due to insufficiency of balance in the Card Holder’s Account(s) or if the card Holder’s funds are subject to legal process or other restriction; f) Failure of the Card Holder to access the Account due to any Force Majeure Event, Technical Problems, or any other reason beyond the control of the Bank; g) Failure of the Card Holder to keep confidential and secure, PIN or any passwords, keywords or other identification marks given to the Card Holder for operating of the Account and/or Card; h) Failure of the Card Holder to inform the Bank regarding any changes in the Card Holder’s personal information; i) Breach of any of the other terms and conditions stated herein or in the Customer Manual by the Card Holder; j) Non-debiting of Transaction amount instantly through ATM or Merchant Transactions;
The following is indicative list of eligible non-limited transactions:  Deposits  ATM Cash withdrawals subject to daily amount limits and sufficient available funds in the account  Withdrawals made in person or by mail at State Bank of India New York  Transfers made in person at State Bank of India New York The following is indicative list of transactions subject to the limit of (SIX) transfers:  Checks, Point of Sale (POS) transactions or debit card purchases  Automatic transfers to another deposit account at SBI, New York  Automatic transfers to a third party or another institution  Telephonic transfers including those initiated by phone call, fax, email through a Bank's representative  Online banking transfers and bill payments Should more than 6 (six) transfers or withdrawals which are subject to the limit, be effected in a month in an MMDA account, an excess check writing fee of $5.00 per excess check or transfer will be levied. Further, if the customer continues to violate the prescribed limit repeatedly, we shall send a letter to the customer, notifying him/her of the violation and also of our policy for reclassifying the account as Checking Account. In case the customer is not agreeable for reclassification, the account will be closed. The Bank reserves the right to enforce this clause if prescribed limits are violated in three consecutive months. We also reserve the right to refuse any transaction(s) which exceed the permissible limit. We are required by law to reserve the right of 7 days’ advance notice before permitting a withdrawal. However, we do not currently exercise this right.
State Bank of India New York Customer Manual for Deposits 56 and other applicable laws, may keep records or make reports of high-dollar transactions, suspicious activities, or foreign currency transactions, as necessary to comply with the law and to detect and prevent illegal activity. There are serious civil and criminal consequences to engaging in illegal financial transactions. 13. Limitation of Bank’s Liability: If we do not complete a transfer to or from your account on time or in the correct amount according to our agreement with you, we will be liable for your losses or damages as further described herein. However, there are some exceptions. We will not be liable, for instance: (1) If, through no fault of ours, you do not have enough money in your account to make the transfer. (2) If the transfer would go over the credit limit on your overdraft line. (3) If the automated teller machine where you are making the transfer does not have enough cash. (4) If the system was not working properly and you knew about the breakdown when you started the transfer. (5) If circumstances beyond our control (such as fire or flood) prevent the transfer, despite reasonable precautions that we have taken.
• Principal: The exact sum of money deposited in an account or the amount of money borrowed. • Right of Set-Off: Right to adjust any overdue debt from any other account held singly or jointly with us. • Substitute Check: means a paper reproduction of an original check that contains an image of the front and back of the original check, bears a MICR line, and is suitable for automated processing in the same manner as the original check. 7 Privacy Notice: FACTS WHAT DOES STATE BANK OF INDIA (SBI-US) DO WITH YOUR PERSONAL INFORMATION? Why? Financial companies choose how they share your personal information. Federal law gives consumers the right to limit some but not all sharing. Federal law also requires us to tell you how we collect, share, and protect your personal information. Please read this notice carefully to understand what we do. What? The types of personal information we collect and share depend on the product or service you have with us. This information can include: Social Security number and income Account balances and payment history Assets and debt When you are no longer our customer, we continue to share your information as described in this notice.
k. Account Discrepancies: You must examine your statement of account and paid checks promptly and notify the Bank within 14 days, from the date of receipt of statement, of any discrepancies. If the discrepancy concerns an electronic funds transfer (e.g., Social Security credits, debit card or ACH transactions), then this notification should be made within 60 days of the Bank’s transmittal of the statement. If we do not hear from you within this period, we will assume that the statement is correct. Failure to examine your monthly statement and not reporting discrepancies to the Bank may also adversely affect your legal rights. For example, if you fail to notify us promptly on a forged check, you may lose your right to be reimbursed for a similar forgery, should one occur later. The Bank shall have the right to debit your accounts to recover any funds erroneously credited and to make good any shortfall from any other account you may have with us. Your accounts could be debited for any improper Government payments received by the Bank. If there is still a shortfall, you agree to repay us the amount owing. Interest paid on the erroneous credit will also be recovered. Further the Bank shall have right to recover funds from you if your account does not have sufficient funds to honor a pre-approved transaction done at a Merchant Establishment using your debit card or on account of other such transactions done using your debit card. Any two occurrences of your account having in-sufficient funds to cover a pre-approved/ authorized debit card transaction will lead to closure of your account and cancellation of the linked debit card facility. For account discrepancies you may call us at (212) 521-3283/ 3318 / 3286.
State Bank of India New York Customer Manual for Deposits 41 We may send the wire through such correspondents as appear appropriate to us in our sole discretion and we shall not be liable for their neglect or negligence. We are not under any obligation to detect errors or inconsistencies in any of your instructions. We will not be liable for any losses caused by errors or inaccuracies in your instructions. We will have the right, in our sole discretion, to reject any instructions, to set exposure limits on the amounts you may wire and impose additional conditions that must be satisfied before we will accept any instructions. i. Limits on Remittances. You will provide a statement of the purpose of the remittance. You may not transfer more than our specified maximum dollar limit in any single day. We may change any of the foregoing limits in our discretion at any time. Remittances may not be sent by us through or into any country in violation of U.S. laws. We will charge to and debit from the account identified in the instruction the amount of money specified in the instruction to be paid to the beneficiary designated therein and all fees and any costs and expenses. You must verify, prior to issuing an instruction for us to initiate a remittance, that funds are available in your account for us to initiate the remittance. If there are insufficient funds, we may, in our sole discretion: (i) execute the transaction, in which event, immediately upon our demand, you will pay to us all amounts sent and all fees and costs and expenses associated with the transfer; (ii) delay the remittance; or (iii) cancel the instruction and not complete the remittance. We will not have any liability to you or any other person for losses incurred by you or any other person when a remittance is not completed because there are not sufficient funds available. j. Limits on Liability and Indemnification. EXCEPT AS PROVIDED IN EXPRESS TERMS TO THE CONTRARY IN THIS MANUAL, THE SERVICE IS PROVIDED ON AN “AS IS”, “AS AVAILABLE” BASIS. WE MAKE NO WARRANTY, EXPRESS OR IMPLIED, TO YOU OR ANY OTHER PERSON REGARDING THE SERVICE, INCLUDING ANY WARRANTY OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE OR NONINFRINGEMENT. Subject to the limitations on our liability set forth in this Agreement, we will have liability to you for any losses you suffer or incur as a direct result of a material breach of this Agreement by us or as a direct result of our gross negligence or intentional misconduct in performing or failing to perform the Service. Our liability will be limited, however, as follows: (i) for delays in payment, our total liability to you or any person, including the beneficiary, will be limited to payment of interest for the period of delay; (ii) for non-completion of the instructions, our total liability to any person, including you, will be limited to reimbursement to such person of his or her actual out-of-pocket expenses in the funds transfer, and any actual out-of-pocket incidental expenses and interest losses; and (iii) for any other cause, the aggregate amount of the fees and charges paid by you to us for the Service during the prior 6 months. We will not be liable to you or any other person for, and you release us from liability with respect to (i) any indirect, consequential, special, incidental, exemplary or punitive damages, including loss of profits, loss of business or loss of data; or (ii) attorneys’ fees or fees of other professionals. You will fully indemnify us and hold us harmless, from and against all losses we may suffer or
b) The Bank shall be entitled to terminate the Card with immediate effect without notice and the Card shall be returned upon the occurrence of any of the following events: • Card Holder’s failure to comply with the terms and conditions herein. • The Card Holder’s default under an agreement or commitment entered into with the Bank. • The Card Holder becomes the subject of any bankruptcy, insolvency proceedings or proceedings of the similar nature. • Demise of the Cardholder. • Failure to maintain minimum required balance to cover transactions. s. Error Resolution: Disputes of ATM or Merchant Establishment Transactions appearing on the Card Holder’s Periodic Statement are subject to the Error Resolution Procedure as mentioned herein. Your rights to a refund or returned merchandise are generally the same as if you had paid by cash or check, and generally must be resolved with the merchant. You will get a monthly statement of your Checking/Money Market account, if the account is not inactive or dormant, which will contain the details of your Debit Card transactions. If you think your statement or receipt is wrong or if you need more information about a transaction listed on the statement, or if you feel that there are other errors or if you have questions about your debit card transactions, please follow the procedures listed here: a) Initial and annual error resolution In Case of Errors or Questions About Your Electronic Transfers telephone or write to us at the following address: State Bank of India Deposit Section 460 Park Avenue, New York, N.Y 10022 Tel: (212)521-3342/3318 as soon as you can, if you think your statement or receipt is wrong or if you need more information about a transfer listed on the statement or receipt. We must hear from you no later than 60 days after we sent the FIRST statement on which the problem or error appeared.
State Bank of India New York Customer Manual for Deposits 29 How? All financial companies need to share customers' personal information to run their everyday business. In the section below, we list the reasons financial companies can share their customers' personal information; the reasons SBI–US chooses to share, and whether you can limit this sharing. Reasons we can share your personal information Does SBI–US share? Can you limit this sharing? For our everyday business purposes– such as to process your transactions, maintain your account(s), respond to court orders and legal investigations, or report to credit bureaus Yes No For our marketing purposes– to offer our products and services to you Yes No For joint marketing with other financial companies No We don't share For our affiliates’ everyday business purposes- information about your transactions and experiences No We don't share For our affiliates’ everyday business purposes- information about your creditworthiness No We don't share For non-affiliates to market to you No We don't share Questions? If you have any questions about our Privacy Policy, or about the security and confidentiality of your nonpublic personal information, please call our Privacy Officer at the branch where you maintain an account, who will be happy to assist you. The contact information is as follows: New York Branch 460 Park Avenue New York NY 10022 Tel:(212) 521-3200 Chicago Branch 19 South LaSalle Street Suite 200 Chicago, Illinois 60603 Tel: (312) 621 0135 Fax:(312) 621 0740 Los Angeles Wholesale Banking Branch 707 Wilshire Blvd 19 th Floor, Suite 1995 Los Angeles CA 90017 Tel:(213) 623 7250 Ex.17 Fax:(213) 622 2069 Who we are Who is providing this notice?
State Bank of India New York Customer Manual for Deposits 55 (1) Tell us your name and account number (if any). (2) Describe the error or the transfer you are unsure about and explain as clearly as you can why you believe it is an error or why you need more information. (3) Tell us the dollar amount of the suspected error. If you inform us orally, we require that you send us your complaint or question in writing within 10 business days. We will determine whether an error occurred within 10 business days after we hear from you and will correct any error promptly. If we need more time, however, we may take up to 45 days to investigate your complaint or question. If we decide to do this, we will credit your account within 10 business days for the amount you think is in error, so that you will have the use of the money during the time it takes us to complete our investigation. If we ask you to put your complaint or question in writing and we do not receive it within 10 business days, we may not credit your account. For errors involving new accounts, point-of-sale, or foreign-initiated transactions, we may take up to 90 days to investigate your complaint or question. For new accounts, we may take up to 20 business days to credit your account for the amount you think is in error. We will tell you the results within three business days after completing our investigation. If we decide that there was no error, we will send you a written explanation. You may ask for copies of the documents that we used in our investigation. (b) Error resolution notice on periodic statements. In Case of Errors or Questions About Your Electronic Transfers telephone or write to us at the following address: State Bank of India Deposit Section 460 Park Avenue, New York, N.Y 10022 Tel: (212)521-3342/3318 as soon as you can, if you think your statement or receipt is wrong or if you need more information about a transfer on the statement or receipt. We must hear from you no later than 60 days after we sent you the FIRST statement on which the error or problem appeared. (1) Tell us your name and account number (if any). (2) Describe the error or the transfer you are unsure about and explain as clearly as you can why you believe it is an error or why you need more information. (3) Tell us the dollar amount of the suspected error. We will investigate your complaint and will correct any error promptly. If we take more than 10 business days to do this, we will credit your account for the amount you think is in error, so that you will have the use of the money during the time it takes us to complete our investigation. 10. Business Days: The Bank’s business days are Monday through Friday, 9:00 a.m. to 4:00 p.m ET (cash services available up to 3:00 pm ET only) not including bank legal holidays. 11.Disclosure of Account Information to Third Parties: We will disclose information to third parties about your account or the transfers you make: (i) Where it is necessary for completing transfers, or (ii) In order to verify the existence and condition of your account for a third party, such as a credit bureau or merchant, or (iii) In order to comply with government agency or court orders, or (iv) as described in our privacy policy included in this agreement.
State Bank of India New York Customer Manual for Deposits 24 IMPORTANT INFORMATION ABOUT SUBSTITUTE CHECKS AND YOUR RIGHTS What is a substitute check? To make check processing faster, federal law permits banks to replace original checks with "substitute checks." These checks are similar to original checks with a slightly reduced image of the front and back of the original check. The front of a substitute check states: "This is a legal copy of your check. You can use it the same way you would use the original check." You may use a substitute check as proof of payment just like the original check. Some or all of the checks that you receive back from us may be substitute checks. This notice describes rights you have when you receive substitute checks from us. The rights in this notice do not apply to original checks or to electronic debits to your account. However, you have rights under other law with respect to those transactions. What are your rights regarding substitute check? In certain cases, federal law provides a special procedure that allows you to request a refund for losses you suffer if a substitute check is posted to your account (for example, if you think that we withdrew the wrong amount from your account or that we withdrew money from your account more than once for the same check). The losses you may attempt to recover under this procedure may include the amount that was withdrawn from your account and fees that were charged as a result of the withdrawal (for example, bounced check fees). The amount of your refund under this procedure is limited to the amount of your loss or the amount of the substitute check, whichever is less. You also are entitled to interest on the amount of your refund if your account is an interest-bearing account. If your loss exceeds the amount of the substitute check, you may be able to recover additional amounts under other law. If you use this procedure, you may receive up to $2,500 of your refund (plus interest if your account earns interest) within 10 business days after we received your claim and the remainder of your refund (plus interest if your account earns interest) not later than 45 calendar days after we received your claim. We may reverse the refund (including any interest on the refund) if we later are able to demonstrate that the substitute check was correctly posted to your account. How can you make a claim for a refund? If you believe that you have suffered a loss relating to a substitute check that you received and that was posted to your account, please contact us by phone at (212)521-3286/3318 or by postal mail at our mailing address. You must contact us within 40 calendar days of the date that we mailed (or otherwise delivered by a means to which you agreed) the substitute check in question or the account statement showing that the substitute check was posted to your account, whichever is later. We may extend this time period if you were not able to make a timely claim because of extraordinary circumstances. Your claim must be made in writing on the prescribed form, be signed by you and include: A description of why you have suffered a loss (e.g. you think the amount withdrawn was incorrect); An estimate of the amount of your loss;
State Bank of India New York Customer Manual for Deposits 53 c) If you tell us about the error orally, in person or by telephone, we require that you send us your complaint or question in writing within ten business days. d) We shall tell you the results of our preliminary investigation within 10 business days after we hear from you and will correct any error promptly. Sometimes we may take up to 45 days to investigate certain complaints or questions. In such cases, we will provisionally credit your Account upon your indemnifying us within 10 business days for the amount you think is in error, so that you may have the use of the money during the time it takes us to complete our investigation. If we ask you to put your complaint or question in writing and we do not receive it within 10 business days, we may not credit your Account. e) For errors involving new Accounts, point-of-sale, or foreign-initiated transactions, we may take up to 90 days to investigate your complaint or question. For new Accounts we may take up to 20 business days to credit your Account for the amount you think is in error. If we decide there was no error, we will send you a written explanation within three business days after we finish our investigation. You may ask for copies of the documents that we used in our investigation. 13. Anti-Money Laundering: The Bank, to the extent required by federal law under the USA PATRIOT Act and others, may keep records or make reports of high-dollar Transactions, suspicious activity, or foreign currency Transactions, as necessary to comply with the law and to detect and prevent illegal activity. There are serious civil and criminal consequences to engaging in illegal financial transactions. 14. Limitation of Bank’s Liability: The Bank shall not be liable to the Card Holder or to any third party, for any loss or damage suffered due to the following reasons: a) Any action carried out by the Bank, in good faith, based upon the instructions of the Card Holder, exercising due diligence and reasonable care; b) Any unauthorized and illegal Transactions occurring through the use of Bank Account(s), which can be attributed to the fraudulent or negligent conduct of the Card Holder, to the extent permitted by law; c) Any ATM or Merchant Establishment refusal to honor the Card, for whatever reason; d) Intrusion or hacking into the computer system/network or communication network of the Bank, to the extent permitted by law; e) Failure to carry out any instructions of the Card Holder due to insufficiency of balance in the Card Holder’s Account(s) or if the card Holder’s funds are subject to legal process or other restriction; f) Failure of the Card Holder to access the Account due to any Force Majeure Event, Technical Problems, or any other reason beyond the control of the Bank; g) Failure of the Card Holder to keep confidential and secure, PIN or any passwords, keywords or other identification marks given to the Card Holder for operating of the Account and/or Card; h) Failure of the Card Holder to inform the Bank regarding any changes in the Card Holder’s personal information; i) Breach of any of the other terms and conditions stated herein or in the Customer Manual by the Card Holder; j) Non-debiting of Transaction amount instantly through ATM or Merchant Transactions;
State Bank of India New York Customer Manual for Deposits 56 and other applicable laws, may keep records or make reports of high-dollar transactions, suspicious activities, or foreign currency transactions, as necessary to comply with the law and to detect and prevent illegal activity. There are serious civil and criminal consequences to engaging in illegal financial transactions. 13. Limitation of Bank’s Liability: If we do not complete a transfer to or from your account on time or in the correct amount according to our agreement with you, we will be liable for your losses or damages as further described herein. However, there are some exceptions. We will not be liable, for instance: (1) If, through no fault of ours, you do not have enough money in your account to make the transfer. (2) If the transfer would go over the credit limit on your overdraft line. (3) If the automated teller machine where you are making the transfer does not have enough cash. (4) If the system was not working properly and you knew about the breakdown when you started the transfer. (5) If circumstances beyond our control (such as fire or flood) prevent the transfer, despite reasonable precautions that we have taken.
The following is indicative list of eligible non-limited transactions:  Deposits  ATM Cash withdrawals subject to daily amount limits and sufficient available funds in the account  Withdrawals made in person or by mail at State Bank of India New York  Transfers made in person at State Bank of India New York The following is indicative list of transactions subject to the limit of (SIX) transfers:  Checks, Point of Sale (POS) transactions or debit card purchases  Automatic transfers to another deposit account at SBI, New York  Automatic transfers to a third party or another institution  Telephonic transfers including those initiated by phone call, fax, email through a Bank's representative  Online banking transfers and bill payments Should more than 6 (six) transfers or withdrawals which are subject to the limit, be effected in a month in an MMDA account, an excess check writing fee of $5.00 per excess check or transfer will be levied. Further, if the customer continues to violate the prescribed limit repeatedly, we shall send a letter to the customer, notifying him/her of the violation and also of our policy for reclassifying the account as Checking Account. In case the customer is not agreeable for reclassification, the account will be closed. The Bank reserves the right to enforce this clause if prescribed limits are violated in three consecutive months. We also reserve the right to refuse any transaction(s) which exceed the permissible limit. We are required by law to reserve the right of 7 days’ advance notice before permitting a withdrawal. However, we do not currently exercise this right.
State Bank of India New York Customer Manual for Deposits 55 (1) Tell us your name and account number (if any). (2) Describe the error or the transfer you are unsure about and explain as clearly as you can why you believe it is an error or why you need more information. (3) Tell us the dollar amount of the suspected error. If you inform us orally, we require that you send us your complaint or question in writing within 10 business days. We will determine whether an error occurred within 10 business days after we hear from you and will correct any error promptly. If we need more time, however, we may take up to 45 days to investigate your complaint or question. If we decide to do this, we will credit your account within 10 business days for the amount you think is in error, so that you will have the use of the money during the time it takes us to complete our investigation. If we ask you to put your complaint or question in writing and we do not receive it within 10 business days, we may not credit your account. For errors involving new accounts, point-of-sale, or foreign-initiated transactions, we may take up to 90 days to investigate your complaint or question. For new accounts, we may take up to 20 business days to credit your account for the amount you think is in error. We will tell you the results within three business days after completing our investigation. If we decide that there was no error, we will send you a written explanation. You may ask for copies of the documents that we used in our investigation. (b) Error resolution notice on periodic statements. In Case of Errors or Questions About Your Electronic Transfers telephone or write to us at the following address: State Bank of India Deposit Section 460 Park Avenue, New York, N.Y 10022 Tel: (212)521-3342/3318 as soon as you can, if you think your statement or receipt is wrong or if you need more information about a transfer on the statement or receipt. We must hear from you no later than 60 days after we sent you the FIRST statement on which the error or problem appeared. (1) Tell us your name and account number (if any). (2) Describe the error or the transfer you are unsure about and explain as clearly as you can why you believe it is an error or why you need more information. (3) Tell us the dollar amount of the suspected error. We will investigate your complaint and will correct any error promptly. If we take more than 10 business days to do this, we will credit your account for the amount you think is in error, so that you will have the use of the money during the time it takes us to complete our investigation. 10. Business Days: The Bank’s business days are Monday through Friday, 9:00 a.m. to 4:00 p.m ET (cash services available up to 3:00 pm ET only) not including bank legal holidays. 11.Disclosure of Account Information to Third Parties: We will disclose information to third parties about your account or the transfers you make: (i) Where it is necessary for completing transfers, or (ii) In order to verify the existence and condition of your account for a third party, such as a credit bureau or merchant, or (iii) In order to comply with government agency or court orders, or (iv) as described in our privacy policy included in this agreement.
Lost or Stolen Card: If the Card is lost or stolen or someone has transferred funds from Card Holder’s Account without his/ her permission, the Card Holder must report the loss to the STAR Network immediately by calling the 24-hour toll-free number shown below or other numbers that may be numbers provided herein. If the Card Holder notifies the Bank within 2 business days of the loss or theft of the Card, the Card Holder’s loss due to unauthorized use of the Card is limited to $50. If the Card Holder does not notify the Bank within 2 business days of the loss or theft of the Card, and the Bank can prove that earlier notification could have prevented the use of the Card, the Card Holder’s liability for the loss could be as much as $500. If the theft is reported after 60 calendar days of the showing of fraud, the card holder may be liable for all unauthorized charges. If you believe that there has been un-authorized transaction(s) using your debit card, please contact us immediately. A Lost or Stolen Card may be reported by contacting: 1-800-523-4175. This toll-free number is available 24-hours a day. 12. Error Resolution: Disputes of ATM or Merchant Establishment Transactions appearing on the Card Holder’s Periodic Statement are subject to the Error Resolution Procedure as mentioned herein. Your rights to a refund or returned merchandise are generally the same as if you had paid by cash or check, and generally must be resolved with the merchant. a) You will get a monthly statement of your Checking/Money Market Account. If you think your statement or receipt is wrong or if you need more information about a transaction listed on the statement, or if you feel that there are other errors or if you have questions about your debit card transactions, please telephone or write to us at the following address: State Bank of India Deposit Section 460 Park Avenue, New York, N.Y 10022 Tel: (212)521-3200/3342 b) For error resolution, we must hear from you no later than 60 days after we sent the first statement on which the problem or error appeared. When writing to us about the error: • Tell us your name and Account number. • Describe the error or the transfer you are unsure about and explain as clearly as you can why you believe it is an error or why you need more information. • Tell us the dollar amount of the error.
State Bank of India New York Customer Manual for Deposits 41 We may send the wire through such correspondents as appear appropriate to us in our sole discretion and we shall not be liable for their neglect or negligence. We are not under any obligation to detect errors or inconsistencies in any of your instructions. We will not be liable for any losses caused by errors or inaccuracies in your instructions. We will have the right, in our sole discretion, to reject any instructions, to set exposure limits on the amounts you may wire and impose additional conditions that must be satisfied before we will accept any instructions. i. Limits on Remittances. You will provide a statement of the purpose of the remittance. You may not transfer more than our specified maximum dollar limit in any single day. We may change any of the foregoing limits in our discretion at any time. Remittances may not be sent by us through or into any country in violation of U.S. laws. We will charge to and debit from the account identified in the instruction the amount of money specified in the instruction to be paid to the beneficiary designated therein and all fees and any costs and expenses. You must verify, prior to issuing an instruction for us to initiate a remittance, that funds are available in your account for us to initiate the remittance. If there are insufficient funds, we may, in our sole discretion: (i) execute the transaction, in which event, immediately upon our demand, you will pay to us all amounts sent and all fees and costs and expenses associated with the transfer; (ii) delay the remittance; or (iii) cancel the instruction and not complete the remittance. We will not have any liability to you or any other person for losses incurred by you or any other person when a remittance is not completed because there are not sufficient funds available. j. Limits on Liability and Indemnification. EXCEPT AS PROVIDED IN EXPRESS TERMS TO THE CONTRARY IN THIS MANUAL, THE SERVICE IS PROVIDED ON AN “AS IS”, “AS AVAILABLE” BASIS. WE MAKE NO WARRANTY, EXPRESS OR IMPLIED, TO YOU OR ANY OTHER PERSON REGARDING THE SERVICE, INCLUDING ANY WARRANTY OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE OR NONINFRINGEMENT. Subject to the limitations on our liability set forth in this Agreement, we will have liability to you for any losses you suffer or incur as a direct result of a material breach of this Agreement by us or as a direct result of our gross negligence or intentional misconduct in performing or failing to perform the Service. Our liability will be limited, however, as follows: (i) for delays in payment, our total liability to you or any person, including the beneficiary, will be limited to payment of interest for the period of delay; (ii) for non-completion of the instructions, our total liability to any person, including you, will be limited to reimbursement to such person of his or her actual out-of-pocket expenses in the funds transfer, and any actual out-of-pocket incidental expenses and interest losses; and (iii) for any other cause, the aggregate amount of the fees and charges paid by you to us for the Service during the prior 6 months. We will not be liable to you or any other person for, and you release us from liability with respect to (i) any indirect, consequential, special, incidental, exemplary or punitive damages, including loss of profits, loss of business or loss of data; or (ii) attorneys’ fees or fees of other professionals. You will fully indemnify us and hold us harmless, from and against all losses we may suffer or
• Principal: The exact sum of money deposited in an account or the amount of money borrowed. • Right of Set-Off: Right to adjust any overdue debt from any other account held singly or jointly with us. • Substitute Check: means a paper reproduction of an original check that contains an image of the front and back of the original check, bears a MICR line, and is suitable for automated processing in the same manner as the original check. 7 Privacy Notice: FACTS WHAT DOES STATE BANK OF INDIA (SBI-US) DO WITH YOUR PERSONAL INFORMATION? Why? Financial companies choose how they share your personal information. Federal law gives consumers the right to limit some but not all sharing. Federal law also requires us to tell you how we collect, share, and protect your personal information. Please read this notice carefully to understand what we do. What? The types of personal information we collect and share depend on the product or service you have with us. This information can include: Social Security number and income Account balances and payment history Assets and debt When you are no longer our customer, we continue to share your information as described in this notice.
b) The Bank shall be entitled to terminate the Card with immediate effect without notice and the Card shall be returned upon the occurrence of any of the following events: • Card Holder’s failure to comply with the terms and conditions herein. • The Card Holder’s default under an agreement or commitment entered into with the Bank. • The Card Holder becomes the subject of any bankruptcy, insolvency proceedings or proceedings of the similar nature. • Demise of the Cardholder. • Failure to maintain minimum required balance to cover transactions. s. Error Resolution: Disputes of ATM or Merchant Establishment Transactions appearing on the Card Holder’s Periodic Statement are subject to the Error Resolution Procedure as mentioned herein. Your rights to a refund or returned merchandise are generally the same as if you had paid by cash or check, and generally must be resolved with the merchant. You will get a monthly statement of your Checking/Money Market account, if the account is not inactive or dormant, which will contain the details of your Debit Card transactions. If you think your statement or receipt is wrong or if you need more information about a transaction listed on the statement, or if you feel that there are other errors or if you have questions about your debit card transactions, please follow the procedures listed here: a) Initial and annual error resolution In Case of Errors or Questions About Your Electronic Transfers telephone or write to us at the following address: State Bank of India Deposit Section 460 Park Avenue, New York, N.Y 10022 Tel: (212)521-3342/3318 as soon as you can, if you think your statement or receipt is wrong or if you need more information about a transfer listed on the statement or receipt. We must hear from you no later than 60 days after we sent the FIRST statement on which the problem or error appeared.
State Bank of India New York Customer Manual for Deposits 30 offices are collectively referred to as SBI-US in this Notice. What we do How does SBI–US protect my personal information? To protect your personal information from unauthorized access and use, we use security measures that comply with federal law. SBI-US has established physical, technological and procedural systems and controls for protecting the confidentiality of your personal information. SBI-US employees undergo training on protecting customer information. How does SBI–US collect my personal information? We collect your personal information, for example, when you Open an account or deposit money Pay your bills or apply for a loan Use your credit or debit card We also collect your personal information from credit bureaus. Why can't I limit all sharing? Federal law gives you the right to limit only Sharing for affiliates’ everyday business purposes- information about your creditworthiness Affiliates from using your information to market to you Sharing for non-affiliates to market to you State laws and individual companies may give you additional rights to limit sharing. See below for more on your rights under state law.
State Bank of India New York Customer Manual for Deposits 29 How? All financial companies need to share customers' personal information to run their everyday business. In the section below, we list the reasons financial companies can share their customers' personal information; the reasons SBI–US chooses to share, and whether you can limit this sharing. Reasons we can share your personal information Does SBI–US share? Can you limit this sharing? For our everyday business purposes– such as to process your transactions, maintain your account(s), respond to court orders and legal investigations, or report to credit bureaus Yes No For our marketing purposes– to offer our products and services to you Yes No For joint marketing with other financial companies No We don't share For our affiliates’ everyday business purposes- information about your transactions and experiences No We don't share For our affiliates’ everyday business purposes- information about your creditworthiness No We don't share For non-affiliates to market to you No We don't share Questions? If you have any questions about our Privacy Policy, or about the security and confidentiality of your nonpublic personal information, please call our Privacy Officer at the branch where you maintain an account, who will be happy to assist you. The contact information is as follows: New York Branch 460 Park Avenue New York NY 10022 Tel:(212) 521-3200 Chicago Branch 19 South LaSalle Street Suite 200 Chicago, Illinois 60603 Tel: (312) 621 0135 Fax:(312) 621 0740 Los Angeles Wholesale Banking Branch 707 Wilshire Blvd 19 th Floor, Suite 1995 Los Angeles CA 90017 Tel:(213) 623 7250 Ex.17 Fax:(213) 622 2069 Who we are Who is providing this notice?

Test Case

Question: What happens if a check received in the mail is not processed on the same day?

Metric Baseline Score Current Score
answer_accuracy 0.84001498 0.81891339 (-0.02110159)
groundedness 0.89106702 0.88657314 (-0.00449389)
mean_answer_similarity 0.87566755 0.87629216 (+0.00062461)
mean_reciprocal_rank 1.00000000 1.00000000
min_answer_similarity 0.84001498 0.81891339 (-0.02110159)
model_failures 0.00000000 0.00000000
model_generation_failures 0.00000000 0.00000000
model_parse_failures 0.00000000 0.00000000
model_passes 1.00000000 1.00000000
model_retrieval_failures 0.00000000 0.00000000
precision_relevancy 0.86167976 0.86375130 (+0.00207154)
recall_relevancy 0.91674489 0.91674489
rouge_1 0.09356725 0.11464968 (+0.02108243)
rouge_2 0.08284024 0.09032258 (+0.00748234)
rouge_l 0.09356725 0.10191083 (+0.00834358)

Legend:

  • Metric : The evaluation metric name. Shown in bold red if the metric flipped between pass/fail status.
  • Baseline Score : The metric value for the baseline model. Shown in bold green if baseline won, red if lost.
  • Current Score : The metric value for the current model, followed by the delta from baseline in parentheses.
  • Delta Colors : Green = improvement, Orange = regression, Red = metric flipped to fail.
  • Winner Determination : For each metric, the winner is determined by comparing scores while considering the metric's directionality (higher is better vs. lower is better).
Baseline Result Current Result
Model claude-3-7-sonnet-20250219@h2ogpte claude-3-7-sonnet-20250219@h2ogpte
Question What happens if a check received in the mail is not processed on the same day?
Expected answer It will be processed on the next business day
Actual Answer According to the document, checks received in the mail on any given day will be processed on the next business day only. This is explicitly stated on page 5 of the document: "Mails received/Check received in mail on any given day will be attended to/processed on next business day only." This is also reinforced on page 17, which notes: "Note - Check received in mail on any given day will be processed only on next business day." The document explains that for determining the availability of deposits, every day is a business day except Saturdays, Sundays, and Federal holidays. If a deposit is made before 4:00 pm (with cash services available until 3:00 pm EST) on a business day that the bank is open, that day is considered the day of deposit. However, if a deposit is made after that time, the bank will consider the deposit as being made on the next business day that they are open. According to the document, checks received in the mail on any given day will be processed only on the next business day. This is explicitly stated on page 5 of the document where it mentions: "Mails received/Check received in mail on any given day will be attended to/processed on next business day only." This is also reinforced on page 17 where it states: "Note - Check received in mail on any given day will be processed only on next business day." The bank's regular banking hours are 9 AM - 4 PM ET Monday through Friday, with cash services available only up to 3 PM ET. Business days are defined as Monday through Friday, 9:00 a.m. to 4:00 p.m ET (cash services available up to 3:00 pm ET only), not including bank legal holidays, as mentioned on page 55 of the document.
Retrieved Context
c. Deposits: You can make deposits: • By check in person, during regular banking hours at the teller counter at the Bank. (Our regular banking hours are 9 AM - 4 PM ET Monday through Friday. Cash services are available only up to 3 PM ET) • By check in mail • By wire transfer • By pre-authorized credit such as for Social Security benefits • By cash in person, at our discretion Cash deposits may be subject to the Bank Secrecy Act reporting provisions. You may be asked to show a valid state id for cash deposit. There are no restrictions on the number of deposits in both Checking and Money Market Deposit Accounts. Funds will be made available in Checking Accounts as described in section 8 “Funds Availability.” The Bank maintains the right, for any reason or for no reason, to refuse to accept a deposit, or return in full or in part any deposit. Note - Check received in mail on any given day will be processed only on next business day. d. The Bank as Collecting Agent: The Bank accepts items for deposit or collection, as your collecting agent, subject to the following conditions:  All items will be credited subject to actual payment.  If payment is not received and the instrument is returned unpaid, the Bank shall have the right to charge back the item to your account. A service charge will also be levied for checks returned unpaid.
State Bank of India New York Customer Manual for Deposits 32 f. What Items are available on the Next Day? Direct deposits such as social security, funds received through CHIPS and Fedwire, U.S. Treasury checks, Federal Reserve Bank checks, Federal Home Loan Bank checks, U.S. Postal Money Orders, State and Local Government checks, and Travelers checks will be available on the first business day after the day of deposit, provided the checks mentioned above are made payable to the account holder. g. What about Other Check Deposits? Effective July 1, 2020 revisions to our Funds Availability Policy have been implemented in accordance with changes to federal regulation. Our policy is to make funds from your cash and check deposits available to you on the first business day after the day we receive your deposit. The amount we make available for withdrawal by checks not subject to next day availability has been revised from $200 to $225. In some cases, we will not make all the funds you deposited by check available on the first business day after the day of your deposit. Depending on the type of check deposited, funds may not be available until the second business day after the day of your deposit. The amount available for withdrawal on exception holds for large deposits, new accounts and the amount for determining a repeat overdraft have been increased from $5,000 to $5,525. Funds deposited by check of more than $5,525 on any one day may be delayed for a longer period. Please use this chart to know when your deposited funds will be available to you (Please also carefully read the exceptions following this chart): Sl.
State Bank of India New York Customer Manual for Deposits 24 IMPORTANT INFORMATION ABOUT SUBSTITUTE CHECKS AND YOUR RIGHTS What is a substitute check? To make check processing faster, federal law permits banks to replace original checks with "substitute checks." These checks are similar to original checks with a slightly reduced image of the front and back of the original check. The front of a substitute check states: "This is a legal copy of your check. You can use it the same way you would use the original check." You may use a substitute check as proof of payment just like the original check. Some or all of the checks that you receive back from us may be substitute checks. This notice describes rights you have when you receive substitute checks from us. The rights in this notice do not apply to original checks or to electronic debits to your account. However, you have rights under other law with respect to those transactions. What are your rights regarding substitute check? In certain cases, federal law provides a special procedure that allows you to request a refund for losses you suffer if a substitute check is posted to your account (for example, if you think that we withdrew the wrong amount from your account or that we withdrew money from your account more than once for the same check). The losses you may attempt to recover under this procedure may include the amount that was withdrawn from your account and fees that were charged as a result of the withdrawal (for example, bounced check fees). The amount of your refund under this procedure is limited to the amount of your loss or the amount of the substitute check, whichever is less. You also are entitled to interest on the amount of your refund if your account is an interest-bearing account. If your loss exceeds the amount of the substitute check, you may be able to recover additional amounts under other law. If you use this procedure, you may receive up to $2,500 of your refund (plus interest if your account earns interest) within 10 business days after we received your claim and the remainder of your refund (plus interest if your account earns interest) not later than 45 calendar days after we received your claim. We may reverse the refund (including any interest on the refund) if we later are able to demonstrate that the substitute check was correctly posted to your account. How can you make a claim for a refund? If you believe that you have suffered a loss relating to a substitute check that you received and that was posted to your account, please contact us by phone at (212)521-3286/3318 or by postal mail at our mailing address. You must contact us within 40 calendar days of the date that we mailed (or otherwise delivered by a means to which you agreed) the substitute check in question or the account statement showing that the substitute check was posted to your account, whichever is later. We may extend this time period if you were not able to make a timely claim because of extraordinary circumstances. Your claim must be made in writing on the prescribed form, be signed by you and include: A description of why you have suffered a loss (e.g. you think the amount withdrawn was incorrect); An estimate of the amount of your loss;
State Bank of India New York Customer Manual for Deposits 34 time periods specified for their normal availability, if we believe that a check deposited for credit of your account will not be paid. We should normally be able to facilitate withdrawals against the deposits made by you in the timeframe mentioned above. If we are not able to do so due to some reason, we shall advise you:  Immediately on your placing the deposit, if you placed the deposit in the Bank at our counter and are still there;  By mail, one day later, if it was not done directly or if we took the decision after you left the premises; or  If we came to know of handicaps/defects subsequently, by mail, one day after our coming to know of such handicaps. Generally, funds should be available no later than five business days from the day of their normal availability unless an emergency condition arises which makes availability unknown. Our Right to accept or Reject a Check for Deposit: Our aforesaid policy and schedules do not affect our right to accept or reject a check for deposit. Policy Changes: We will notify you of any policy changes which may affect the time it takes to clear checks. SUMMARY OF SBI, NEW YORK POLICY Federal law requires that all deposits be made available after a specific period of time, depending on the type of check and location of the bank on which the check is drawn. It is State Bank of India’s policy to make funds from these checks available as early as possible, for customer convenience, and within the schedules established.
m. Change of Address, e-mail address, telephone number and account details: Please update us promptly of any change of address, e-mail address, telephone number or account details and include a complete list of all your accounts and account numbers. Please use Customer Information Update Form (CIP Form) available on our website for update of any information and submit the same along with copy of valid Photo ID and Address proof. Bank reserves the right to ask for additional documents on a case to case basis. If you do not inform us of the changes, mailing of account statements may be withheld and the accounts may be blocked for further transactions until we hear from you. Bank may ask you to update your account information through remediation form as and when there is any material change, or whenever bank requires. If this information is not provided within a reasonable time (30 days), the Bank may decide to decline further transactions in the account and may also close the account if not received the same in subsequent 60 days. For proof of the new address, a utility bill, State issued ID with current address, or Letter issued by Government Authority to the current address to give effect to your change of address request may be provided. All requests for Change of Address, e-mail address, telephone number and account details should be submitted along with a copy of valid ID document. Bank may also call you on your registered number for confirming the details given on the request. If your signed request for email/phone number change is received through modes other than online banking and over the counter, there will be a 30 day debit restriction on your account. n. Closing an Account: You may close your Checking /Money Market Deposit Account at any time provided the funds on deposit are not held against uncollected deposited checks or attached by any legal action. A service charge would apply to Checking/Money Market Deposit Accounts closed within three months of opening. If a hold is placed on your account because of a pre-approved merchant transaction done using your debit card, the Bank may not close the account until the transaction is completed or the hold is removed.
State Bank of India New York Customer Manual for Deposits 33 3. All checks other than those in item 1&2 $ 225 or the amount of the check, whichever is less on 1st business day after deposit day. Tuesday Balance or $5300 whichever is less on 2nd business day after day of deposit. Wednesday Balance, if any, on 3rd business day after day of deposit. Thursday 4 ACH deposits initiated through Internet Banking 4th working day from date of initiation of ACH transfer (if initiated before 4:00 pm ET) Thursday at 3:00 pm ET Note: If you deposit multiple checks from item 3 above on the same day aggregating more than $225, only $225 will be made available in the checking account on the first business day after the day of deposit and not $225 from each check. h. Exceptions to the Availability Schedules in the Chart New Accounts: For the first 30 calendar days after your account has been opened, any check covered by item 3 of the chart will be available to you on the 8th business day after the day of the deposit. Other Exceptions: Funds availability in respect of item 3 of the chart may be delayed beyond the time periods specified for their normal availability for any of the following reasons:  If you redeposit a check that has been returned unpaid for insufficient funds.  If you deposit checks totaling more than $5,525 on any one business day. This exception can also be invoked for checks covered in item 2 of the chart.
State Bank of India New York Customer Manual for Deposits 18  All items will be forwarded by the Bank through ordinary bank collection channels as your collecting agent, at your risk.  The Bank shall not be responsible for negligence, default or failure of sub-agent(s), nor for any loss in mail. Please refer to the “Schedule of Fees & Charges” for charges related to collection matters. e. Endorsements: All checks deposited by you must be signed on the reverse with your name clearly written. We may refuse to accept checks with two payees, or a check whose collectible nature is in doubt. It is necessary for you to endorse a check correctly on the area reserved for your signature, on the reverse of the check. The remaining area must be left blank for processing purposes. The Bank will not be liable for any loss on account of improperly endorsed checks. The Bank shall not, as a policy or general practice, refuse to accept a check as a deposit made with a teller by an account holder for the sole reason that it contains two endorsements. However, this policy shall not prevent the Bank from requiring the approval of an officer or manager as a condition of accepting a check with two endorsements for deposit or from refusing to accept a deposit of a check with two endorsements that is not made with a teller.
no. Deposit Type When Funds are available Available if the day of deposit is a Monday and assuming no intervening federal holidays 1. Cash (cash deposit service is available only up to 3:00 pm EST on a business day) and checks payable to customer, drawn on any US branch of SBI and official, Certified, Cashier’s, Teller's checks. Same day as day of deposit Monday 2. Direct deposits of Social Security, CHIPS & Fedwire receipts, provided we are able to apply the funds, Treasury Checks, FRB checks, Home Loan Bank checks, US Postal Money Orders, NY State and local Govt. checks and Traveler's checks, provided the checks are payable to the account holder Up to First business day after the day of the deposit Tuesday
e. Withdrawals: When writing checks on your Checking or Money Market Deposit Account, please ensure that:  The amount is stated in US dollars;  The amount is within the available balance in your account. The available balance in your account may be affected because of other transactions, including debit card transactions. Checks which exceed the available balance in your account may be returned unpaid and are subject to a charge as indicated in “Schedule of Fees & Charges”. The Bank reserves the right to pay a stale check, i.e., a check more than 6 months old. A request for a withdrawal or transfer may not be honored in circumstances such as, but not limited to, these:  If the Bank has instructions to the contrary from a joint account holder. In such cases the signatures of all account holders would be required on any authorization.  If a court order/legal process prohibits the Bank from doing so.  If the Bank suspects fraud or violation, including money laundering.  If there is a dispute to the Bank’s knowledge.  If the account is pledged as collateral and has been set-off against overdue debts.  If the account is seized by State /Federal agency.  If the payee is not properly identified to us.  If the withdrawal/transfer exceeds the permissible number (e.g., more than 6 checks per statement period in Money Market Deposit Accounts).
State Bank of India New York Customer Manual for Deposits 25 An explanation of why the substitute check you received is insufficient to confirm that you suffered a loss; and A copy of the substitute check [and/or] the following information to help us identify the substitute check: (identifying information, for example the check number, the name of the person to whom you wrote the check, the amount of the check). [Both a legible copy of the substitute check and the details are preferred for an early response from the Bank] 5. ADDITIONAL INFORMATION ON DEPOSIT ACCOUNTS 5.1 Designation of Beneficiary We have introduced the DOB (Designation of Beneficiary) facility for individual customers. The facility is available to both existing as well as new customers. You can also designate beneficiaries for your existing accounts with us. The DOB form is available on our website https://sbinewyork.statebank. Please read the FAQ below to understand the DOB facility. a) What is the total number of beneficiaries permitted? The total number of beneficiaries will be restricted to four (4). It is Bank’s policy to accept designations where all beneficiaries have equal shares. In the event a beneficiary pre- deceases the account holder(s) the surviving beneficiaries will be entitled to equal shares of the balance of the account.
c. Deposits: You can make deposits: • By check in person, during regular banking hours at the teller counter at the Bank. (Our regular banking hours are 9 AM - 4 PM ET Monday through Friday. Cash services are available only up to 3 PM ET) • By check in mail • By wire transfer • By pre-authorized credit such as for Social Security benefits • By cash in person, at our discretion Cash deposits may be subject to the Bank Secrecy Act reporting provisions. You may be asked to show a valid state id for cash deposit. There are no restrictions on the number of deposits in both Checking and Money Market Deposit Accounts. Funds will be made available in Checking Accounts as described in section 8 “Funds Availability.” The Bank maintains the right, for any reason or for no reason, to refuse to accept a deposit, or return in full or in part any deposit. Note - Check received in mail on any given day will be processed only on next business day. d. The Bank as Collecting Agent: The Bank accepts items for deposit or collection, as your collecting agent, subject to the following conditions:  All items will be credited subject to actual payment.  If payment is not received and the instrument is returned unpaid, the Bank shall have the right to charge back the item to your account. A service charge will also be levied for checks returned unpaid.
State Bank of India New York Customer Manual for Deposits 24 IMPORTANT INFORMATION ABOUT SUBSTITUTE CHECKS AND YOUR RIGHTS What is a substitute check? To make check processing faster, federal law permits banks to replace original checks with "substitute checks." These checks are similar to original checks with a slightly reduced image of the front and back of the original check. The front of a substitute check states: "This is a legal copy of your check. You can use it the same way you would use the original check." You may use a substitute check as proof of payment just like the original check. Some or all of the checks that you receive back from us may be substitute checks. This notice describes rights you have when you receive substitute checks from us. The rights in this notice do not apply to original checks or to electronic debits to your account. However, you have rights under other law with respect to those transactions. What are your rights regarding substitute check? In certain cases, federal law provides a special procedure that allows you to request a refund for losses you suffer if a substitute check is posted to your account (for example, if you think that we withdrew the wrong amount from your account or that we withdrew money from your account more than once for the same check). The losses you may attempt to recover under this procedure may include the amount that was withdrawn from your account and fees that were charged as a result of the withdrawal (for example, bounced check fees). The amount of your refund under this procedure is limited to the amount of your loss or the amount of the substitute check, whichever is less. You also are entitled to interest on the amount of your refund if your account is an interest-bearing account. If your loss exceeds the amount of the substitute check, you may be able to recover additional amounts under other law. If you use this procedure, you may receive up to $2,500 of your refund (plus interest if your account earns interest) within 10 business days after we received your claim and the remainder of your refund (plus interest if your account earns interest) not later than 45 calendar days after we received your claim. We may reverse the refund (including any interest on the refund) if we later are able to demonstrate that the substitute check was correctly posted to your account. How can you make a claim for a refund? If you believe that you have suffered a loss relating to a substitute check that you received and that was posted to your account, please contact us by phone at (212)521-3286/3318 or by postal mail at our mailing address. You must contact us within 40 calendar days of the date that we mailed (or otherwise delivered by a means to which you agreed) the substitute check in question or the account statement showing that the substitute check was posted to your account, whichever is later. We may extend this time period if you were not able to make a timely claim because of extraordinary circumstances. Your claim must be made in writing on the prescribed form, be signed by you and include: A description of why you have suffered a loss (e.g. you think the amount withdrawn was incorrect); An estimate of the amount of your loss;
Contact for Higher Escalation vpeb.nyb@statebank.com vpdep.nyb@statebank.com 212-521-3311 212-521-3310 Trade Finance (i) Letter of Credit mgrlc.nyb@statebank.com 212-521-3275 (ii) Bills mgrbills.nyb@statebank.com 212-521-3273 Contact for Higher Escalation vptrade.nyb@statebank.com 212-521-3260 Credit Department Credit mgrcr1.nyb@statebank.com 212-521-3211 Contact for Escalation vpcr1.nyb@statebank.com 212-521-3262 Intermediary Wire Transfers Correspondent Banking and Intermediary Wire Transfers mgrpnr.nyb@statebank.com 212-521-3333 Contact for Higher Escalation vpicb.nyb@statebank.com 212-521-3329 If your issues are not resolved, you may contact the branch compliance officer : Phone No: 2125213229, Email: brco.nyb@statebank.com Please do not share your non-public information over email. Kindly use secured message service in online banking or send us your requests through mail*. *The mail is the service or system by which letters and packages are collected and delivered. Example: letters delivered through public carriers such as FED Ex, DHL, USPS, UPS etc. Mails received/Check received in mail on any given day will be attended to/processed on next business day only.
k. Account Discrepancies: You must examine your statement of account and paid checks promptly and notify the Bank within 14 days, from the date of receipt of statement, of any discrepancies. If the discrepancy concerns an electronic funds transfer (e.g., Social Security credits, debit card or ACH transactions), then this notification should be made within 60 days of the Bank’s transmittal of the statement. If we do not hear from you within this period, we will assume that the statement is correct. Failure to examine your monthly statement and not reporting discrepancies to the Bank may also adversely affect your legal rights. For example, if you fail to notify us promptly on a forged check, you may lose your right to be reimbursed for a similar forgery, should one occur later. The Bank shall have the right to debit your accounts to recover any funds erroneously credited and to make good any shortfall from any other account you may have with us. Your accounts could be debited for any improper Government payments received by the Bank. If there is still a shortfall, you agree to repay us the amount owing. Interest paid on the erroneous credit will also be recovered. Further the Bank shall have right to recover funds from you if your account does not have sufficient funds to honor a pre-approved transaction done at a Merchant Establishment using your debit card or on account of other such transactions done using your debit card. Any two occurrences of your account having in-sufficient funds to cover a pre-approved/ authorized debit card transaction will lead to closure of your account and cancellation of the linked debit card facility. For account discrepancies you may call us at (212) 521-3283/ 3318 / 3286.
State Bank of India New York Customer Manual for Deposits 32 f. What Items are available on the Next Day? Direct deposits such as social security, funds received through CHIPS and Fedwire, U.S. Treasury checks, Federal Reserve Bank checks, Federal Home Loan Bank checks, U.S. Postal Money Orders, State and Local Government checks, and Travelers checks will be available on the first business day after the day of deposit, provided the checks mentioned above are made payable to the account holder. g. What about Other Check Deposits? Effective July 1, 2020 revisions to our Funds Availability Policy have been implemented in accordance with changes to federal regulation. Our policy is to make funds from your cash and check deposits available to you on the first business day after the day we receive your deposit. The amount we make available for withdrawal by checks not subject to next day availability has been revised from $200 to $225. In some cases, we will not make all the funds you deposited by check available on the first business day after the day of your deposit. Depending on the type of check deposited, funds may not be available until the second business day after the day of your deposit. The amount available for withdrawal on exception holds for large deposits, new accounts and the amount for determining a repeat overdraft have been increased from $5,000 to $5,525. Funds deposited by check of more than $5,525 on any one day may be delayed for a longer period. Please use this chart to know when your deposited funds will be available to you (Please also carefully read the exceptions following this chart): Sl.
e. Withdrawals: When writing checks on your Checking or Money Market Deposit Account, please ensure that:  The amount is stated in US dollars;  The amount is within the available balance in your account. The available balance in your account may be affected because of other transactions, including debit card transactions. Checks which exceed the available balance in your account may be returned unpaid and are subject to a charge as indicated in “Schedule of Fees & Charges”. The Bank reserves the right to pay a stale check, i.e., a check more than 6 months old. A request for a withdrawal or transfer may not be honored in circumstances such as, but not limited to, these:  If the Bank has instructions to the contrary from a joint account holder. In such cases the signatures of all account holders would be required on any authorization.  If a court order/legal process prohibits the Bank from doing so.  If the Bank suspects fraud or violation, including money laundering.  If there is a dispute to the Bank’s knowledge.  If the account is pledged as collateral and has been set-off against overdue debts.  If the account is seized by State /Federal agency.  If the payee is not properly identified to us.  If the withdrawal/transfer exceeds the permissible number (e.g., more than 6 checks per statement period in Money Market Deposit Accounts).
m. Change of Address, e-mail address, telephone number and account details: Please update us promptly of any change of address, e-mail address, telephone number or account details and include a complete list of all your accounts and account numbers. Please use Customer Information Update Form (CIP Form) available on our website for update of any information and submit the same along with copy of valid Photo ID and Address proof. Bank reserves the right to ask for additional documents on a case to case basis. If you do not inform us of the changes, mailing of account statements may be withheld and the accounts may be blocked for further transactions until we hear from you. Bank may ask you to update your account information through remediation form as and when there is any material change, or whenever bank requires. If this information is not provided within a reasonable time (30 days), the Bank may decide to decline further transactions in the account and may also close the account if not received the same in subsequent 60 days. For proof of the new address, a utility bill, State issued ID with current address, or Letter issued by Government Authority to the current address to give effect to your change of address request may be provided. All requests for Change of Address, e-mail address, telephone number and account details should be submitted along with a copy of valid ID document. Bank may also call you on your registered number for confirming the details given on the request. If your signed request for email/phone number change is received through modes other than online banking and over the counter, there will be a 30 day debit restriction on your account. n. Closing an Account: You may close your Checking /Money Market Deposit Account at any time provided the funds on deposit are not held against uncollected deposited checks or attached by any legal action. A service charge would apply to Checking/Money Market Deposit Accounts closed within three months of opening. If a hold is placed on your account because of a pre-approved merchant transaction done using your debit card, the Bank may not close the account until the transaction is completed or the hold is removed.
• Principal: The exact sum of money deposited in an account or the amount of money borrowed. • Right of Set-Off: Right to adjust any overdue debt from any other account held singly or jointly with us. • Substitute Check: means a paper reproduction of an original check that contains an image of the front and back of the original check, bears a MICR line, and is suitable for automated processing in the same manner as the original check. 7 Privacy Notice: FACTS WHAT DOES STATE BANK OF INDIA (SBI-US) DO WITH YOUR PERSONAL INFORMATION? Why? Financial companies choose how they share your personal information. Federal law gives consumers the right to limit some but not all sharing. Federal law also requires us to tell you how we collect, share, and protect your personal information. Please read this notice carefully to understand what we do. What? The types of personal information we collect and share depend on the product or service you have with us. This information can include: Social Security number and income Account balances and payment history Assets and debt When you are no longer our customer, we continue to share your information as described in this notice.
Change of Address, e-mail address, telephone number and account details: Bank may ask you to update your account information through remediation form as and when there is any material change, or whenever bank requires. If this information is not provided within a reasonable time (30 days), the Bank may decide to decline further transactions in the account and may also close the account if not received the same in subsequent 60 days. If your signed request for email/phone number change is received through modes other than online banking and over the counter, there will be a 30- day debit restriction on your account. 26 Inactive Accounts / Dormant Account Incomplete requests, requests received without requisite documents will not be accepted for activation. Inactive Accounts / Dormant Accounts Incomplete requests, requests received without requisite documents will not be accepted for activation. During the update of your information and activation process, bank will process a one cent entry (debit/credit transaction) in your account.
Lost or Stolen Card: If the Card is lost or stolen or someone has transferred funds from Card Holder’s Account without his/ her permission, the Card Holder must report the loss to the STAR Network immediately by calling the 24-hour toll-free number shown below or other numbers that may be numbers provided herein. If the Card Holder notifies the Bank within 2 business days of the loss or theft of the Card, the Card Holder’s loss due to unauthorized use of the Card is limited to $50. If the Card Holder does not notify the Bank within 2 business days of the loss or theft of the Card, and the Bank can prove that earlier notification could have prevented the use of the Card, the Card Holder’s liability for the loss could be as much as $500. If the theft is reported after 60 calendar days of the showing of fraud, the card holder may be liable for all unauthorized charges. If you believe that there has been un-authorized transaction(s) using your debit card, please contact us immediately. A Lost or Stolen Card may be reported by contacting: 1-800-523-4175. This toll-free number is available 24-hours a day. 12. Error Resolution: Disputes of ATM or Merchant Establishment Transactions appearing on the Card Holder’s Periodic Statement are subject to the Error Resolution Procedure as mentioned herein. Your rights to a refund or returned merchandise are generally the same as if you had paid by cash or check, and generally must be resolved with the merchant. a) You will get a monthly statement of your Checking/Money Market Account. If you think your statement or receipt is wrong or if you need more information about a transaction listed on the statement, or if you feel that there are other errors or if you have questions about your debit card transactions, please telephone or write to us at the following address: State Bank of India Deposit Section 460 Park Avenue, New York, N.Y 10022 Tel: (212)521-3200/3342 b) For error resolution, we must hear from you no later than 60 days after we sent the first statement on which the problem or error appeared. When writing to us about the error: • Tell us your name and Account number. • Describe the error or the transfer you are unsure about and explain as clearly as you can why you believe it is an error or why you need more information. • Tell us the dollar amount of the error.

Test Case

Question: What is the minimum daily balance required to be maintained to avoid monthly service charges for a Business/Associations Checking Account?

Metric Baseline Score Current Score
answer_accuracy 0.01252236 0.01104101 (-0.00148135)
groundedness 0.84258439 0.90442728 (+0.06184289)
mean_answer_similarity 0.78770659 0.77927799 (-0.00842860)
mean_reciprocal_rank 1.00000000 1.00000000
min_answer_similarity 0.76480654 0.76837649 (+0.00356996)
model_failures 0.00000000 0.00000000
model_generation_failures 0.00000000 0.00000000
model_parse_failures 0.00000000 0.00000000
model_passes 1.00000000 1.00000000
model_retrieval_failures 0.00000000 0.00000000
precision_relevancy 0.89434035 0.88800541 (-0.00633494)
recall_relevancy 0.95038137 0.95038137
rouge_1 0.04081633 0.03883495 (-0.00198138)
rouge_2 0.02083333 0.01980198 (-0.00103135)
rouge_l 0.04081633 0.03883495 (-0.00198138)

Legend:

  • Metric : The evaluation metric name. Shown in bold red if the metric flipped between pass/fail status.
  • Baseline Score : The metric value for the baseline model. Shown in bold green if baseline won, red if lost.
  • Current Score : The metric value for the current model, followed by the delta from baseline in parentheses.
  • Delta Colors : Green = improvement, Orange = regression, Red = metric flipped to fail.
  • Winner Determination : For each metric, the winner is determined by comparing scores while considering the metric's directionality (higher is better vs. lower is better).
Baseline Result Current Result
Model claude-3-7-sonnet-20250219@h2ogpte claude-3-7-sonnet-20250219@h2ogpte
Question What is the minimum daily balance required to be maintained to avoid monthly service charges for a Business/Associations Checking Account?
Expected answer $20,000
Actual Answer According to the document, the minimum daily balance required to be maintained to avoid monthly service charges for a Business/Associations Checking Account is $20,000 for US Resident businesses and $50,000 for Non-US Resident businesses. This information is found on page 10 of the "test-suite-call-center-50p.pdf" document, which shows a table of minimum balance requirements. If the balance falls below the required minimum on any day of the month, a monthly service charge of $50 will be imposed, as indicated in the Schedule of Fees & Charges on page 45. According to the document, the minimum daily balance required to be maintained to avoid monthly service charges for a Business/Associations Checking Account varies based on residency status: - For US Resident Business/Associations: $20,000 - For Non-US Resident Business/Associations: $50,000 This information is found on page 10 of the "Customer Manual for Deposits" document, which shows a table of minimum balance requirements. If the balance falls below the required minimum during any day of a calendar month, a monthly service charge of $50 will be imposed, as indicated in the "Schedule of Fees & Charges" section on page 45.
Retrieved Context
3.5 Limited Liability Company (“LLC”) The following documents are required:  The LLC’s organizational documents (Articles of Organization and Operating Agreement)  The names of all the members and managers of the LLC shall be provided with all the same identification as required for corporations above.  A certified copy of a resolution of the Managers of the LLC providing all the same information required in the corporate resolution set forth above.  Certificate of Beneficial owners, wherever applicable. 4. TYPES OF ACCOUNTS Three types of deposit accounts may be opened:  Checking Account  Money Market Deposit (MMD) Account  Certificate of Deposit (CD) Account 4.1 Checking Account This is a non-interest bearing account with no restrictions on the number of withdrawals or credits. However, Bank has the discretion to pay interest on a product variant. The minimum deposit required for opening an account is the minimum daily balance requirement for the account which is tabled below. The daily minimum balance required to be maintained to avoid monthly service charges are as follows:
e. Withdrawals: When writing checks on your Checking or Money Market Deposit Account, please ensure that:  The amount is stated in US dollars;  The amount is within the available balance in your account. The available balance in your account may be affected because of other transactions, including debit card transactions. Checks which exceed the available balance in your account may be returned unpaid and are subject to a charge as indicated in “Schedule of Fees & Charges”. The Bank reserves the right to pay a stale check, i.e., a check more than 6 months old. A request for a withdrawal or transfer may not be honored in circumstances such as, but not limited to, these:  If the Bank has instructions to the contrary from a joint account holder. In such cases the signatures of all account holders would be required on any authorization.  If a court order/legal process prohibits the Bank from doing so.  If the Bank suspects fraud or violation, including money laundering.  If there is a dispute to the Bank’s knowledge.  If the account is pledged as collateral and has been set-off against overdue debts.  If the account is seized by State /Federal agency.  If the payee is not properly identified to us.  If the withdrawal/transfer exceeds the permissible number (e.g., more than 6 checks per statement period in Money Market Deposit Accounts).
State Bank of India New York Customer Manual for Deposits 45 B. Service Fees & Charges Consumer Accounts Accounts of Business/ Associations Excess Transaction charges – Each transaction in Money Market Accounts in excess of 6 transfers or withdrawals or a combination of these in a statement period. $5 $5 Checks returned or paid against insufficient or unavailable funds # $10 $15 SCHEDULE OF FEES & CHARGES Minimum Balance Requirements & Service Charges Checking Account Money Market Account Consumer A/C Business/Associations Consumer A/c Business/Associations USA Resident Minimum daily balance 1,000 $ 20,000 $2,500 $ 50,000 Monthly service charge (if the balance falls below minimum on any day of the month) $15* (effective 01/01/2020) $ 50 $20* (effective 01/01/2020) $ 50 Non-USA Resident Minimum daily balance Opened at the sole discretion of the Bank and as per its Policy. Minimum balance is $10,000 Opened at the sole discretion of the Bank and as per its Policy. Minimum balance is $ 50,000 Opened at the sole discretion of the Bank and as per its Policy. Minimum balance is $ 25,000 Opened at the sole discretion of the Bank and as per its Policy. Minimum balance is $ 100,000 Monthly service charge (if the balance falls below minimum on any day of the month) $20* (effective 01/01/2020) $50 $25* (effective 01/01/2020) $50 Note : Consumer accounts = Accounts of natural persons
State Bank of India New York Customer Manual for Deposits 10 Consumer Account Business/ Associations US Resident $1,000 $20,000 Non- US Resident $10,000 $50,000 A minimum balance service charge as listed in our “Schedule of Fees & Charges” in this Manual will be imposed every month if the balance in the account falls below the required minimum during any day of a calendar month. If the balance is less than the amount required to be deducted as a service charge, the available balance will be treated as service charges and the account may be closed forthwith, with notice to the customer at the last available address in our records. A checking account for a Non US resident consumer or business/association will be opened at the sole discretion of the Bank and as per its policy, either on the same terms and conditions as for U.S.-resident customers or on separate terms and conditions. No overdraft is permitted under any circumstances in this account. Any check presented with insufficient funds will be dishonored. Service charges are listed in our “Schedule of Fees & Charges” in this Manual. Early closure fees will apply if you close your account within three months of opening. The Bank will provide a statement of account at monthly intervals. 4.1.1 Basic Checking Account In order to provide low cost banking services, we offer “basic banking” checking accounts to all consumers who fulfill the following requirements: • Residents of New York State. • The consumer is required to close all other transaction accounts with our Bank or any other banking institution and will be given a period of 60 days (from the date the basic banking account is opened) to do so. If other transaction account/s is/are not closed within 60 days, the said basic checking account shall be closed by the Bank. • Receive direct credit of a recurring payment such as Social Security, wages or pension payments. • Have limited monthly transactions. • Desire basic checking services. Salient Features of Basic Checking Accounts a. Minimum deposit to open the account: $25. b. Minimum monthly balance required to be maintained: No minimum balance. c. Monthly maintenance fee: i) Nil, if the daily balance is $500 or more. ii) Otherwise $3 per month.
The following is indicative list of eligible non-limited transactions:  Deposits  ATM Cash withdrawals subject to daily amount limits and sufficient available funds in the account  Withdrawals made in person or by mail at State Bank of India New York  Transfers made in person at State Bank of India New York The following is indicative list of transactions subject to the limit of (SIX) transfers:  Checks, Point of Sale (POS) transactions or debit card purchases  Automatic transfers to another deposit account at SBI, New York  Automatic transfers to a third party or another institution  Telephonic transfers including those initiated by phone call, fax, email through a Bank's representative  Online banking transfers and bill payments Should more than 6 (six) transfers or withdrawals which are subject to the limit, be effected in a month in an MMDA account, an excess check writing fee of $5.00 per excess check or transfer will be levied. Further, if the customer continues to violate the prescribed limit repeatedly, we shall send a letter to the customer, notifying him/her of the violation and also of our policy for reclassifying the account as Checking Account. In case the customer is not agreeable for reclassification, the account will be closed. The Bank reserves the right to enforce this clause if prescribed limits are violated in three consecutive months. We also reserve the right to refuse any transaction(s) which exceed the permissible limit. We are required by law to reserve the right of 7 days’ advance notice before permitting a withdrawal. However, we do not currently exercise this right.
State Bank of India New York Customer Manual for Deposits 11 age or older. For every additional withdrawal or check beyond above mentioned number in a statement cycle, $5 will be recovered e. Restriction on the number of credits/deposits: No restriction. f. Availability of account statement and frequency of monthly statement: Account statements at monthly intervals will be provided. 4.2 Money Market Deposit (MMD) Account This is an interest-bearing account from which withdrawals can be made in accordance with certain prescribed restrictions. Tiered interest rate is available on money market accounts based on the balances available in the account. The minimum deposit required for opening an account is the minimum daily balance requirement for the account which is tabled below. The daily minimum balances required to be maintained to avoid monthly service charges are as follows: Consumer Account Business/ Associations US Resident Customer $2,500 $50,000 Non-US Resident Customer $25,000 $ 100,000 A minimum balance service charge as listed in our “Schedule of Fees & Charges” in this Manual will be imposed every month if the balance in the account falls below the required minimum during any day of a calendar month. If the balance is less than the amount required to be deducted as service charge, the so available balance will be treated as service charges and the account may be closed forthwith, with notice to the customer at the last available address in our records. No overdraft is permitted under any circumstances in this account. Any check presented with insufficient funds will be dishonored. Service charges are listed in our “Schedule of Fees & Charges” in this Manual. A Money Market Deposit Account for Non-US Resident consumer or business/association would be opened at the sole discretion of the Bank and as per its policy, either on the same terms and conditions as for U.S- resident customers or on mutually agreed terms and conditions. Monthly service charges are listed in our “Schedule of Fees & Charges” in this Manual. Early closure fees will apply if you close your account within three months of opening. Other Features of Money Market Deposit Accounts a. Interest Rate: Tiered interest rate is available on MMD accounts based on the balances available in account. Interest rate on these accounts may vary from time to time. The Bank reserves the right to change the rate at any time. There is no limitation as to the percentage amount the interest rate may vary. You may visit our website https://sbinewyork.statebank or call (212) 521-3200 for information on the current rate of interest. b. Payment of Interest: Interest will accrue on your day-end balance. Interest earned during the month will be credited to the account at the close of business on the last business day of the month and will be made available to you on the first business day of the following month. There is no minimum balance required to earn the stated annual percentage yield. For non-cash deposits made into your account (for example checks) interest begins to accrue no later than the business day we receive credit for the deposit of the non-cash items. If the account is closed during the middle of a
b) The Bank shall be entitled to terminate the Card with immediate effect without notice and the Card shall be returned upon the occurrence of any of the following events: • Card Holder’s failure to comply with the terms and conditions herein. • The Card Holder’s default under an agreement or commitment entered into with the Bank. • The Card Holder becomes the subject of any bankruptcy, insolvency proceedings or proceedings of the similar nature. • Demise of the Cardholder. • Failure to maintain minimum required balance to cover transactions. s. Error Resolution: Disputes of ATM or Merchant Establishment Transactions appearing on the Card Holder’s Periodic Statement are subject to the Error Resolution Procedure as mentioned herein. Your rights to a refund or returned merchandise are generally the same as if you had paid by cash or check, and generally must be resolved with the merchant. You will get a monthly statement of your Checking/Money Market account, if the account is not inactive or dormant, which will contain the details of your Debit Card transactions. If you think your statement or receipt is wrong or if you need more information about a transaction listed on the statement, or if you feel that there are other errors or if you have questions about your debit card transactions, please follow the procedures listed here: a) Initial and annual error resolution In Case of Errors or Questions About Your Electronic Transfers telephone or write to us at the following address: State Bank of India Deposit Section 460 Park Avenue, New York, N.Y 10022 Tel: (212)521-3342/3318 as soon as you can, if you think your statement or receipt is wrong or if you need more information about a transfer listed on the statement or receipt. We must hear from you no later than 60 days after we sent the FIRST statement on which the problem or error appeared.
State Bank of India New York Customer Manual for Deposits 21 l. Charges: We reserve the right to charge your account in accordance with the “Schedule of Fees & Charges” in circumstances such as, but not limited to, the following: • If a check deposited by you has been returned unpaid. • If there are insufficient funds in your account to cover a check you have issued. • If you use a service that involves a fee or a charge, e.g., issue of official checks or recovery of charges by a bank through which a wire transfer has been sent. • If there is a monthly service charge due to non-maintenance of minimum balance. • If we are required to comply with any legal process in connection with your account. • If you desire stop payment of a check. • If a postdated check written by you has been returned unpaid. • If we confirm the balance in your account to a third party under your authorization. • If you desire us to furnish credit information related to your account. • If you desire copies of your records. • If you give us a standing instruction. The Bank will not be responsible if it refuses to pay a check you have issued if there are not enough funds in the account after we have deducted a service charge.
m. Change of Address, e-mail address, telephone number and account details: Please update us promptly of any change of address, e-mail address, telephone number or account details and include a complete list of all your accounts and account numbers. Please use Customer Information Update Form (CIP Form) available on our website for update of any information and submit the same along with copy of valid Photo ID and Address proof. Bank reserves the right to ask for additional documents on a case to case basis. If you do not inform us of the changes, mailing of account statements may be withheld and the accounts may be blocked for further transactions until we hear from you. Bank may ask you to update your account information through remediation form as and when there is any material change, or whenever bank requires. If this information is not provided within a reasonable time (30 days), the Bank may decide to decline further transactions in the account and may also close the account if not received the same in subsequent 60 days. For proof of the new address, a utility bill, State issued ID with current address, or Letter issued by Government Authority to the current address to give effect to your change of address request may be provided. All requests for Change of Address, e-mail address, telephone number and account details should be submitted along with a copy of valid ID document. Bank may also call you on your registered number for confirming the details given on the request. If your signed request for email/phone number change is received through modes other than online banking and over the counter, there will be a 30 day debit restriction on your account. n. Closing an Account: You may close your Checking /Money Market Deposit Account at any time provided the funds on deposit are not held against uncollected deposited checks or attached by any legal action. A service charge would apply to Checking/Money Market Deposit Accounts closed within three months of opening. If a hold is placed on your account because of a pre-approved merchant transaction done using your debit card, the Bank may not close the account until the transaction is completed or the hold is removed.
c. Deposits: You can make deposits: • By check in person, during regular banking hours at the teller counter at the Bank. (Our regular banking hours are 9 AM - 4 PM ET Monday through Friday. Cash services are available only up to 3 PM ET) • By check in mail • By wire transfer • By pre-authorized credit such as for Social Security benefits • By cash in person, at our discretion Cash deposits may be subject to the Bank Secrecy Act reporting provisions. You may be asked to show a valid state id for cash deposit. There are no restrictions on the number of deposits in both Checking and Money Market Deposit Accounts. Funds will be made available in Checking Accounts as described in section 8 “Funds Availability.” The Bank maintains the right, for any reason or for no reason, to refuse to accept a deposit, or return in full or in part any deposit. Note - Check received in mail on any given day will be processed only on next business day. d. The Bank as Collecting Agent: The Bank accepts items for deposit or collection, as your collecting agent, subject to the following conditions:  All items will be credited subject to actual payment.  If payment is not received and the instrument is returned unpaid, the Bank shall have the right to charge back the item to your account. A service charge will also be levied for checks returned unpaid.
3.5 Limited Liability Company (“LLC”) The following documents are required:  The LLC’s organizational documents (Articles of Organization and Operating Agreement)  The names of all the members and managers of the LLC shall be provided with all the same identification as required for corporations above.  A certified copy of a resolution of the Managers of the LLC providing all the same information required in the corporate resolution set forth above.  Certificate of Beneficial owners, wherever applicable. 4. TYPES OF ACCOUNTS Three types of deposit accounts may be opened:  Checking Account  Money Market Deposit (MMD) Account  Certificate of Deposit (CD) Account 4.1 Checking Account This is a non-interest bearing account with no restrictions on the number of withdrawals or credits. However, Bank has the discretion to pay interest on a product variant. The minimum deposit required for opening an account is the minimum daily balance requirement for the account which is tabled below. The daily minimum balance required to be maintained to avoid monthly service charges are as follows:
State Bank of India New York Customer Manual for Deposits 11 age or older. For every additional withdrawal or check beyond above mentioned number in a statement cycle, $5 will be recovered e. Restriction on the number of credits/deposits: No restriction. f. Availability of account statement and frequency of monthly statement: Account statements at monthly intervals will be provided. 4.2 Money Market Deposit (MMD) Account This is an interest-bearing account from which withdrawals can be made in accordance with certain prescribed restrictions. Tiered interest rate is available on money market accounts based on the balances available in the account. The minimum deposit required for opening an account is the minimum daily balance requirement for the account which is tabled below. The daily minimum balances required to be maintained to avoid monthly service charges are as follows: Consumer Account Business/ Associations US Resident Customer $2,500 $50,000 Non-US Resident Customer $25,000 $ 100,000 A minimum balance service charge as listed in our “Schedule of Fees & Charges” in this Manual will be imposed every month if the balance in the account falls below the required minimum during any day of a calendar month. If the balance is less than the amount required to be deducted as service charge, the so available balance will be treated as service charges and the account may be closed forthwith, with notice to the customer at the last available address in our records. No overdraft is permitted under any circumstances in this account. Any check presented with insufficient funds will be dishonored. Service charges are listed in our “Schedule of Fees & Charges” in this Manual. A Money Market Deposit Account for Non-US Resident consumer or business/association would be opened at the sole discretion of the Bank and as per its policy, either on the same terms and conditions as for U.S- resident customers or on mutually agreed terms and conditions. Monthly service charges are listed in our “Schedule of Fees & Charges” in this Manual. Early closure fees will apply if you close your account within three months of opening. Other Features of Money Market Deposit Accounts a. Interest Rate: Tiered interest rate is available on MMD accounts based on the balances available in account. Interest rate on these accounts may vary from time to time. The Bank reserves the right to change the rate at any time. There is no limitation as to the percentage amount the interest rate may vary. You may visit our website https://sbinewyork.statebank or call (212) 521-3200 for information on the current rate of interest. b. Payment of Interest: Interest will accrue on your day-end balance. Interest earned during the month will be credited to the account at the close of business on the last business day of the month and will be made available to you on the first business day of the following month. There is no minimum balance required to earn the stated annual percentage yield. For non-cash deposits made into your account (for example checks) interest begins to accrue no later than the business day we receive credit for the deposit of the non-cash items. If the account is closed during the middle of a
State Bank of India New York Customer Manual for Deposits 45 B. Service Fees & Charges Consumer Accounts Accounts of Business/ Associations Excess Transaction charges – Each transaction in Money Market Accounts in excess of 6 transfers or withdrawals or a combination of these in a statement period. $5 $5 Checks returned or paid against insufficient or unavailable funds # $10 $15 SCHEDULE OF FEES & CHARGES Minimum Balance Requirements & Service Charges Checking Account Money Market Account Consumer A/C Business/Associations Consumer A/c Business/Associations USA Resident Minimum daily balance 1,000 $ 20,000 $2,500 $ 50,000 Monthly service charge (if the balance falls below minimum on any day of the month) $15* (effective 01/01/2020) $ 50 $20* (effective 01/01/2020) $ 50 Non-USA Resident Minimum daily balance Opened at the sole discretion of the Bank and as per its Policy. Minimum balance is $10,000 Opened at the sole discretion of the Bank and as per its Policy. Minimum balance is $ 50,000 Opened at the sole discretion of the Bank and as per its Policy. Minimum balance is $ 25,000 Opened at the sole discretion of the Bank and as per its Policy. Minimum balance is $ 100,000 Monthly service charge (if the balance falls below minimum on any day of the month) $20* (effective 01/01/2020) $50 $25* (effective 01/01/2020) $50 Note : Consumer accounts = Accounts of natural persons
e. Withdrawals: When writing checks on your Checking or Money Market Deposit Account, please ensure that:  The amount is stated in US dollars;  The amount is within the available balance in your account. The available balance in your account may be affected because of other transactions, including debit card transactions. Checks which exceed the available balance in your account may be returned unpaid and are subject to a charge as indicated in “Schedule of Fees & Charges”. The Bank reserves the right to pay a stale check, i.e., a check more than 6 months old. A request for a withdrawal or transfer may not be honored in circumstances such as, but not limited to, these:  If the Bank has instructions to the contrary from a joint account holder. In such cases the signatures of all account holders would be required on any authorization.  If a court order/legal process prohibits the Bank from doing so.  If the Bank suspects fraud or violation, including money laundering.  If there is a dispute to the Bank’s knowledge.  If the account is pledged as collateral and has been set-off against overdue debts.  If the account is seized by State /Federal agency.  If the payee is not properly identified to us.  If the withdrawal/transfer exceeds the permissible number (e.g., more than 6 checks per statement period in Money Market Deposit Accounts).
The following is indicative list of eligible non-limited transactions:  Deposits  ATM Cash withdrawals subject to daily amount limits and sufficient available funds in the account  Withdrawals made in person or by mail at State Bank of India New York  Transfers made in person at State Bank of India New York The following is indicative list of transactions subject to the limit of (SIX) transfers:  Checks, Point of Sale (POS) transactions or debit card purchases  Automatic transfers to another deposit account at SBI, New York  Automatic transfers to a third party or another institution  Telephonic transfers including those initiated by phone call, fax, email through a Bank's representative  Online banking transfers and bill payments Should more than 6 (six) transfers or withdrawals which are subject to the limit, be effected in a month in an MMDA account, an excess check writing fee of $5.00 per excess check or transfer will be levied. Further, if the customer continues to violate the prescribed limit repeatedly, we shall send a letter to the customer, notifying him/her of the violation and also of our policy for reclassifying the account as Checking Account. In case the customer is not agreeable for reclassification, the account will be closed. The Bank reserves the right to enforce this clause if prescribed limits are violated in three consecutive months. We also reserve the right to refuse any transaction(s) which exceed the permissible limit. We are required by law to reserve the right of 7 days’ advance notice before permitting a withdrawal. However, we do not currently exercise this right.
State Bank of India New York Customer Manual for Deposits 50 but will be credited back to your Account by the Bank. A Card Holder may withdraw up to $1000.00 per day at ATMs. The Bank reserves the right to lower this limit in case of a technical failure. 9. Debit Card Use with Merchants: The Card is accepted at all electronic Point-of-Sale (POS) terminals at stores and vendors (Merchant Establishments) displaying MasterCard or STAR logos. The Card may be used to make purchases at a chip enabled electronic Point-of-Sale terminal, to pay bills directly by telephone, internet, or other means, or to make other such electronic transfers from an Account. a) Daily Use Limits: A Card Holder may use the Card to make purchases up to $2000.00 per day at Merchant Establishments or such other limits as the Bank may establish from time to time. The Bank may lower these limits in case of a technical failure. b) Debit-card clearing: Debit-card Transactions may clear the Account differently than checks and traditional ATM card transactions. Because these transactions clear differently, the Card Holder should take care to keep an accurate register and monitor the Account’s balance for pending transactions and cleared transactions in order to avoid unwanted fees and other items being returned.
State Bank of India New York Customer Manual for Deposits 12 month, accrued interest will be credited and paid. Accrued interest will be credited to your account prior to closing the same. c. Compounding Method: Your Money Market Deposit Account earn simple interest on a 360 days’ basis which accrues daily based on the end-of-the-day balance. The daily balance method will be used to calculate the interest on the account. This method applies a daily periodic rate to the principal in the account each day. Although interest accrues daily, you may not withdraw the earnings until the first business day of the following calendar month, when the same is credited into the account, provided the account is not closed. If not withdrawn, interest is added to and becomes part of the account balance. Since interest is added to your total account balance, any credited interest in the account is, effectively, compounded monthly. d. Annual Percentage Yield: The annual percentage yield earned (APYE) for the statement period will be advised with each monthly statement account. e. Withdrawals: A maximum of 6 transfers or withdrawals, or a combination of such transfers or withdrawals, are permitted during a calendar month or statement cycle of at least four weeks. For the purpose of this limit, preauthorized, automatic transfers (including but not limited to transfer from savings deposit for overdraft protection or for direct bill payments) and transfers and withdrawals initiated by telephone, facsimile, or computer and transfers made by check, debit card or other similar order made by the depositor and payable to third parties is included.
State Bank of India New York Customer Manual for Deposits 28 • Certify: An act by which the Bank conveys that the check, so accepted, will be paid, if otherwise in order. The Bank is obligated to make payments for all checks certified by it. Your account will be debited with the amount, at the time of certifying the check. • Collateral: Any property /security pledged for use in repaying loans in case of default. • Compound/Compounding: The interest paid on the interest left behind on deposit in your account. • Consumer: A natural person who holds an account, primarily for personal, family or household purposes. • Daily Balance Method: This method applies a daily periodic rate to the principal in the account each day. • Double-Endorsed Check: A check with an endorsement in addition to the endorsement(s) of the original payee(s). • Electronic Fund Transfer: Any transfer of money initiated by electronic means to or from a bank account of a customer. • Interest Rate: This refers to the annual simple interest the account will earn. • Maturity: The end of the agreed period of time for which an account was opened (applicable to CD or loan accounts).
5. Funds: The Card Holder will maintain sufficient funds in the Account as necessary to cover any transactions at the time they are initiated. The Card Holder should not use or attempt to use the Card without sufficient funds in the Account. In the event of payment/debit made in excess of the balance available in the Account, Card Holder will be responsible to the Bank for the amount of any transaction completed and will also be responsible to the Bank for the Service Fee disclosed in the Customer Manual for a check returned or paid against insufficient or unavailable funds. Please see the Customer Manual for a Schedule of Fees and Charges. 6. Periodic Statements: Periodic Statements of the Account will be sent to the Card Holder as provided in the Customer Manual. 7. Expiration/Renewal: The Card is valid up to the last day of the month/year indicated on the Card. A renewal Card shall be sent by the Bank before the expiry of the Card at the discretion of the Bank. The Bank reserves the sole right of renewing the Card Account on expiry. The Card Holder is responsible for destroying the expired Card. Unless we are notified in writing otherwise, re-issued cards will be sent to your last known address according to the records of the Bank. 8. ATM Use: The Debit Card can be used in USA and India. Please contact us and in case you wish to use your card in any other country. You are required to submit a signed request before for allowing transactions in countries except US and India. Bank reserves the right to allow or decline such requests due to regulatory and policy considerations. The Card is accepted at STAR Network ATMs and may be accepted at ATMs operated by other banks or financial institutions. The Card may be used to withdraw cash from the Account, transfer funds between Accounts, and obtain Account balance information. Card Holder is entitled to receive a receipt of ATM Transactions containing sufficient information to identify the transaction and the terminal used. You cannot deposit cash or check at ATMs. The Bank will have no liability what so ever if you deposit cash or check at an ATM. Cash withdrawals and balance inquiries may be subject to a fee (if used outside the STAR Network) and will be debited to the Account at the time of such transactions
State Bank of India New York Customer Manual for Deposits 10 Consumer Account Business/ Associations US Resident $1,000 $20,000 Non- US Resident $10,000 $50,000 A minimum balance service charge as listed in our “Schedule of Fees & Charges” in this Manual will be imposed every month if the balance in the account falls below the required minimum during any day of a calendar month. If the balance is less than the amount required to be deducted as a service charge, the available balance will be treated as service charges and the account may be closed forthwith, with notice to the customer at the last available address in our records. A checking account for a Non US resident consumer or business/association will be opened at the sole discretion of the Bank and as per its policy, either on the same terms and conditions as for U.S.-resident customers or on separate terms and conditions. No overdraft is permitted under any circumstances in this account. Any check presented with insufficient funds will be dishonored. Service charges are listed in our “Schedule of Fees & Charges” in this Manual. Early closure fees will apply if you close your account within three months of opening. The Bank will provide a statement of account at monthly intervals. 4.1.1 Basic Checking Account In order to provide low cost banking services, we offer “basic banking” checking accounts to all consumers who fulfill the following requirements: • Residents of New York State. • The consumer is required to close all other transaction accounts with our Bank or any other banking institution and will be given a period of 60 days (from the date the basic banking account is opened) to do so. If other transaction account/s is/are not closed within 60 days, the said basic checking account shall be closed by the Bank. • Receive direct credit of a recurring payment such as Social Security, wages or pension payments. • Have limited monthly transactions. • Desire basic checking services. Salient Features of Basic Checking Accounts a. Minimum deposit to open the account: $25. b. Minimum monthly balance required to be maintained: No minimum balance. c. Monthly maintenance fee: i) Nil, if the daily balance is $500 or more. ii) Otherwise $3 per month.

Test Case

Question: Does State Bank of India allow customers to cancel a hold on a debit card transaction?

Metric Baseline Score Current Score
answer_accuracy 0.81037343 0.81110801 (+0.00073458)
groundedness 0.85158512 0.84950070 (-0.00208442)
mean_answer_similarity 0.87386087 0.87072029 (-0.00314059)
mean_reciprocal_rank 1.00000000 1.00000000
min_answer_similarity 0.77152475 0.77152475
model_failures 0.00000000 0.00000000
model_generation_failures 0.00000000 0.00000000
model_parse_failures 0.00000000 0.00000000
model_passes 1.00000000 1.00000000
model_retrieval_failures 0.00000000 0.00000000
precision_relevancy 0.88883508 0.88883508 (+0.00000000)
recall_relevancy 0.91291102 0.91291102
rouge_1 0.18315018 0.19230769 (+0.00915751)
rouge_2 0.15498155 0.16279070 (+0.00780915)
rouge_l 0.16849817 0.17692308 (+0.00842491)

Legend:

  • Metric : The evaluation metric name. Shown in bold red if the metric flipped between pass/fail status.
  • Baseline Score : The metric value for the baseline model. Shown in bold green if baseline won, red if lost.
  • Current Score : The metric value for the current model, followed by the delta from baseline in parentheses.
  • Delta Colors : Green = improvement, Orange = regression, Red = metric flipped to fail.
  • Winner Determination : For each metric, the winner is determined by comparing scores while considering the metric's directionality (higher is better vs. lower is better).
Baseline Result Current Result
Model claude-3-7-sonnet-20250219@h2ogpte claude-3-7-sonnet-20250219@h2ogpte
Question Does State Bank of India allow customers to cancel a hold on a debit card transaction?
Expected answer No, the Bank is not permitted to allow a debit cardholder to cancel a hold within MasterCard limits for transactions that were authorized by the cardholder
Actual Answer According to the document, State Bank of India generally does not permit customers to cancel a hold on a debit card transaction that was authorized by the cardholder. This is stated in multiple sections of the document: On page 51, it clearly states: "Generally, the Bank is not permitted to allow the Card Holder to cancel a hold within MasterCard limits for Transactions that were authorized by the Card Holder." Similarly, on page 37, it mentions: "Generally, the Bank is not permitted to allow the Card Holder to cancel a hold within MasterCard limits for Transactions that were authorized by the Card Holder." However, there are two exceptions noted in the document: 1. If the cardholder suspects that a transaction was fraudulent or unauthorized, they can contact both the Merchant and the Bank for possible ways to chargeback the debit. 2. Cardholders are permitted to cancel or place a stop payment on pre-authorized recurring transactions scheduled to occur at regular intervals (such as monthly utility payments or loan installments). To do this, the cardholder must: - First contact the merchant/beneficiary to cancel the payment - Provide the Bank with written instructions at least three days prior to the scheduled debit - Submit a letter of indemnity signed by the Account holder/Card Holder - Provide complete details including the amount, scheduled date of debit, and name of the beneficiary A fee of USD 10.00 will be charged for each stop payment request made for pre-authorized recurring transactions. According to the document, State Bank of India generally does not permit customers to cancel a hold on a debit card transaction that was authorized by the cardholder. This is stated in multiple sections of the document: On page 51, it clearly states: "Generally, the Bank is not permitted to allow the Card Holder to cancel a hold within MasterCard limits for Transactions that were authorized by the Card Holder." Similarly, on page 37, it mentions: "Generally, the Bank is not permitted to allow the Card Holder to cancel a hold within MasterCard limits for Transactions that were authorized by the Card Holder." However, there are two exceptions: 1. If the cardholder suspects that a transaction was fraudulent or unauthorized, they can contact both the merchant and the bank for possible ways to chargeback the debit. 2. For pre-authorized recurring transactions (such as monthly utility payments or loan installments), the cardholder is permitted to place a stop payment. In this case, the customer must: - First try to cancel with the merchant/beneficiary - Provide written instructions to the bank at least three days prior to the scheduled debit - Submit a letter of indemnity signed by the account holder/card holder - Provide complete details including the amount, scheduled date of debit, and name of beneficiary A fee of USD 10.00 will be charged for each stop payment request made for pre-authorized recurring transactions.
Retrieved Context
With respect to transactions done involving a debit card, generally, the Bank is not permitted to allow a debit cardholder to cancel a hold within MasterCard limits for Transactions that were authorized by the Card Holder but the cardholder is permitted to cancel, or place a stop payment, on a pre-authorized transaction scheduled to occur at regular intervals, such as a monthly utility payment or loan installment. Before requesting the Bank to stop a recurring payment, the Card Holder should take up with the merchant/ beneficiary for cancelling/ stopping such payment. The Bank may require details of such request made to the merchant/ beneficiary for acting upon Card Holder’s request. The Card Holder must give the Bank written instructions to cancel or stop such a payment at least three (3) days prior to the scheduled debit. The stop order takes effect when it is recorded on your account. While instructing us to stop payment of any check, please give us the check number, the amount, the date of issue and the name of the beneficiary in case of a pre-authorized recurring transaction, we will need the amount, the scheduled date of debit, name of the beneficiary and mode of transaction viz ACH or Debit Card. In the absence of complete and correct particulars, the stop order would be ineffective. If we fail to stop a payment and if you have requested us well in time and with all the particulars as detailed above, we will be liable for your losses or damages, limited to the amount of that check. An oral order is binding upon the Bank only for three (3) days unless confirmed in writing within that period. A written order will remain effective unless cancelled in writing.
c) Available balance: Each time the Card Holder uses the Card, a hold is immediately placed on funds in the Account, reducing the available balance to pay checks and other debits that are presented to the Bank for payment. d) Holds on the Account: Typically, debit-card transaction “holds” are for the amount of the actual purchase, but in some instances, they may be for a different amount as MasterCard’s rules permit "authorization" holds based upon an estimated amount of the transaction, and, in some instances, may include additional amounts authorized under MasterCard’s rules. The Card Holder agrees that such a “hold” may be placed on his Account/Accounts in the amount authorized. These authorization holds can affect the Card Holder’s available balance for other transactions. The amount of your available balance will be decreased by the amount of the “hold‟ for as long as the “hold‟ is in effect. This means that funds on “hold‟ will not be available for withdrawal, transfer or payment. In each instance, the Card Holder is responsible to the Bank for the amount that the Bank settles based upon either the placed-hold limits or the final amount presented and settled. The Card Holder will remain responsible to the Bank for settlement of all pre-authorized transactions even if such transactions come after the hold is removed. This is another reason that the Card Holder should take care to keep an accurate register and monitor the Account’s balance for pending transactions and cleared transaction to ensure that sufficient funds are in the Account at all times.
State Bank of India New York Customer Manual for Deposits 51 allow the Card Holder to cancel a hold within MasterCard limits for Transactions that were authorized by the Card Holder. If, however, the Card Holder suspects that a Transaction was fraudulent or otherwise unauthorized, the Card Holder should contact the Merchant and the Bank for possible ways to chargeback the debit. Please see the Error Resolution Procedures in subsequent paras for more information. 10. Cancellation of pre-authorized Transactions scheduled at regular intervals: While a Card Holder is generally not permitted to cancel Debit Card Transactions and holds, the cardholder is permitted to cancel, or place a stop payment, on a pre-authorized transaction scheduled to occur at regular intervals, such as a monthly utility payment or loan installment. Before requesting the Bank for stopping a recurring payment, the cardholder should take up with the merchant/ beneficiary for cancelling/ stopping such payment. The Bank may require details of such request made to the merchant/ beneficiary for acting upon Card Holder’s request. The Card Holder must give the Bank written instructions to cancel or stop such a payment at least three (3) days prior to the scheduled debit. The stop payment instruction should be accompanied with a letter of indemnity signed by the Account holder/ Card Holder. The stop order takes effect when it is recorded on your Account. In case of a pre-authorized recurring transaction, we will need the amount, the scheduled date of debit, name of the beneficiary. In the absence of complete and correct particulars, the stop order would be ineffective. If we fail to stop a payment and if you have requested us well in time and with all the particulars as detailed above, we will be liable for your losses or damages. An oral order is binding upon the Bank only for fourteen days unless confirmed in writing within that period. A written order is effective for only six months unless renewed/cancelled in writing. You may inquire about the status of a pre-authorized transaction by calling us on 212-521-3342 on a business day and during the business hours. A fee of USD 10.00 will be charged for each stop payment request made.
State Bank of India New York Customer Manual for Deposits 37 purchase, but in some instances, they may be for a different amount as MasterCard’s rules permit "authorization" holds based upon an estimated amount of the transaction, and, in some instances, may include additional amounts authorized under MasterCard’s rules. The Card Holder agrees that such a “hold” may be placed on his account/accounts in the amount authorized. These authorization holds can affect the Card Holder’s available balance for other transactions. The amount of your available balance will be decreased by the amount of the “hold‟ for as long as the “hold‟ is in effect. This means that funds on “hold‟ will not be available for withdrawal, transfer or payment. In each instance, the Card Holder is responsible to the Bank for the amount that the Bank settles based upon either the placed-hold limits or the final amount presented and settled. The Card Holder will remain responsible to the Bank for settlement of all pre-authorized transactions even if such transactions come after the hold is removed. This is another reason that the Card Holder should take care to keep an accurate register and monitor the Account’s balance for pending transactions and cleared transaction to ensure that sufficient funds are in the Account at all times. k. Overdraft on Account of Pre-authorized Transactions: Please note that while the Bank does not provide any overdraft facility on your debit card transactions, the Bank shall have right to recover funds from you if your account gets over-drawn because the Bank has settled a preauthorized transaction done at a Merchant Establishment using your debit card or on account of other such transactions done using your debit card. You agree that you will remain responsible to the Bank for the amount by which your account is overdrawn. Any two occurrences of your account having non- sufficient funds to cover a pre-approved/ authorized debit card transaction will lead to closure of your account and cancellation of the linked debit card facility. l. Cancellation of Merchant debit-card authorizations: Generally, the Bank is not permitted to allow the Card Holder to cancel a hold within MasterCard limits for Transactions that were authorized by the Card Holder. If, however, the Card Holder suspects that a Transaction was fraudulent or otherwise unauthorized, the Card Holder should contact the Merchant and the Bank for possible ways to chargeback the debit. Please see the Error Resolution Procedures in subsequent paragraphs for more information. m. Notice Regarding Money Market Deposit Accounts: If the Account is a Money Market Deposit Account, certain limitations on transactions apply. A maximum of 6 transfers or withdrawals, or a combination of such transfers or withdrawals, are permitted during a calendar month or statement cycle of at least four weeks, including transfers or withdrawal by check, ACH to third parties, and/or Debit Card transactions with Merchant Establishments. However, any number of the following transactions using the Debit Card at an ATM are permitted: transfers of funds between your own Accounts held with the Bank and balance inquiries. n. International Transactions: Additionally, Card Holders may use the Card at ATMs and Merchant Establishments in U.S. and India. Any transaction done in INR will be converted to U.S. dollars. The exchange rate is established by MasterCard and not the Bank. The use of the Card may also be restricted with respect to certain foreign countries as required by U.S. laws and regulations. Any offer or option for exchange rate given by any ATM machine is no way related to SBI NY Branch and they are offered by local ATM service provider. Your account will be debited based upon the option selected by you.
e) Overdraft on Account of Pre-authorized Transactions: Please note that while the Bank does not provide any overdraft facility on your debit card transaction, the Bank shall have right to recover funds from you if your Account gets over-drawn because the Bank has settled a preauthorized transaction done at a Merchant Establishment using your debit card or on account of other such transactions done using your debit card. You agree that you will remain responsible to the Bank for the amount by which your Account gets overdrawn. Any two occurrences of your Account having non-sufficient funds to cover a pre-approved/ authorized debit card transaction will lead to closure of your Account and cancellation of the linked debit card facility. f) Cancellation of Merchant debit-card authorizations: Generally, the Bank is not permitted to
9. ELECTRONIC FUND TRANSFERS (Applicable only to Consumer Accounts) a. Applicability: This section addresses the items and conditions which apply when you authorize Electronic Funds Transfers (EFT) of Federal recurring payments such as Social Security credits (SSA, SSI checks, etc.), ACH transactions and debit card transactions to your account. These terms apply if you receive a State Bank of India, New York Branch ATM-cum- Debit Card. If you are approved, the card is forwarded to you at your registered mailing address. By activating the card, you agree to these terms and conditions. All other terms and conditions for your account, as set forth in this Manual, will also apply. An Electronic Funds Transfer means any transfer of funds started through an electronic terminal or a magnetic tape for the purpose of instructing or authorizing us to credit/ debit your account. b. Definitions: Additional terms are defined as follows: “Card” or “Debit Card” refers to the State Bank of India -- New York Branch Debit Card issued by the Bank to a Card Holder. The card issued is co-branded by MasterCard. “Card Holder” means the approved Customer who has been issued the Card and who is authorized to hold and use the Card. Card Holder is referred to as “you”, “your”, or similar pronouns. Words in
State Bank of India New York Customer Manual for Deposits 36 or disclosed to a third party. The security of the PIN is the Card Holder’s responsibility. e. Funds: The Card Holder will maintain sufficient funds in the Account as necessary to cover any transactions at the time they are initiated. The Card Holder should not use or attempt to use the Card without sufficient funds in the Account. In the event of payment/debit made in excess of the balance available in the Account, Card Holder will be responsible to the Bank for the amount of any transaction completed and will also be responsible to the Bank for the Service Fee disclosed in the Schedule of Fees and Charges. h. Periodic Statements: Periodic Statements of the Account will be sent to the Card Holder as provided in Customer Manual. If you expect to receive any preauthorized transfer to your account, you may call 212-521-3286 to determine whether your transfer has been received. e. Expiration/Renewal: The Card is valid up to the last day of the month/year indicated on the Card. A renewal Card shall be sent by the Bank before the expiry of the Card at the discretion of the Bank. The Bank reserves the sole right to renew the Card account on expiry. The Card Holder is responsible for destroying the expired Card. Unless we are notified in writing otherwise, re-issued cards will be sent to your last known address according to the records of the Bank. f. Transfer types and Limitations: The Card is accepted at all electronic chip enabled Point-of-Sale (POS) terminals at stores and vendors (Merchant Establishments) displaying MasterCard or STAR logos. The Card is accepted at STAR Network ATMs and may be accepted at ATMs operated by other banks or financial institutions. The Card may be used to make purchases at an electronic chip enabled Point-of-Sale terminal, to pay bills directly by telephone, internet, or other means, or to make other such electronic transfers from an account. The Card may be used to withdraw cash from the Account, transfer funds between Accounts, and obtain Account balance information. Card Holder is entitled to receive a receipt of ATM Transactions containing sufficient information to identify the transaction and the terminal used. You cannot deposit cash or checks at ATMs. The Bank will have no liability if you deposit cash or checks at an ATM. g. Daily Use Limits: A Card Holder may use the Card to make purchases up to $2000.00 per day at Merchant Establishments or such other limits as the Bank may establish from time to time. The Bank may lower these limits in case of a technical failure. A Card Holder may withdraw up to $1000.00 per day at ATMs. The Bank reserves the right to lower this limit in case of a technical failure. h. Debit-card clearing: Debit-card Transactions may clear the Account differently than checks and traditional ATM card transactions. Because these transactions clear differently, the Card Holders should take care to keep an accurate register and monitor the Account’s balance for pending transactions and cleared transactions in order to avoid unwanted fees and other items being returned. i. Available balance: Each time the Card Holder uses the Card, a hold is immediately placed on funds in the account, reducing the available balance to pay checks and other debits that are presented to the Bank for payment. j. Holds on the account: Typically, debit-card transaction “holds” are for the amount of the actual
Lost or Stolen Card: If the Card is lost or stolen or someone has transferred funds from Card Holder’s Account without his/ her permission, the Card Holder must report the loss to the STAR Network immediately by calling the 24-hour toll-free number shown below or other numbers that may be numbers provided herein. If the Card Holder notifies the Bank within 2 business days of the loss or theft of the Card, the Card Holder’s loss due to unauthorized use of the Card is limited to $50. If the Card Holder does not notify the Bank within 2 business days of the loss or theft of the Card, and the Bank can prove that earlier notification could have prevented the use of the Card, the Card Holder’s liability for the loss could be as much as $500. If the theft is reported after 60 calendar days of the showing of fraud, the card holder may be liable for all unauthorized charges. If you believe that there has been un-authorized transaction(s) using your debit card, please contact us immediately. A Lost or Stolen Card may be reported by contacting: 1-800-523-4175. This toll-free number is available 24-hours a day. 12. Error Resolution: Disputes of ATM or Merchant Establishment Transactions appearing on the Card Holder’s Periodic Statement are subject to the Error Resolution Procedure as mentioned herein. Your rights to a refund or returned merchandise are generally the same as if you had paid by cash or check, and generally must be resolved with the merchant. a) You will get a monthly statement of your Checking/Money Market Account. If you think your statement or receipt is wrong or if you need more information about a transaction listed on the statement, or if you feel that there are other errors or if you have questions about your debit card transactions, please telephone or write to us at the following address: State Bank of India Deposit Section 460 Park Avenue, New York, N.Y 10022 Tel: (212)521-3200/3342 b) For error resolution, we must hear from you no later than 60 days after we sent the first statement on which the problem or error appeared. When writing to us about the error: • Tell us your name and Account number. • Describe the error or the transfer you are unsure about and explain as clearly as you can why you believe it is an error or why you need more information. • Tell us the dollar amount of the error.
State Bank of India New York Customer Manual for Deposits 48 Annexure B Debit Card agreement: Please read the Debit Card agreement given below to have a detailed view of terms and conditions applicable for the use of this service. The Debit Card agreement is also available on our website https://sbinewyork.statebank . 1. Agreement: This Agreement is provided at the time you apply for a State Bank of India, New York Branch ATM Debit Card. If you are approved, the card is forwarded to you. By activating the card, you agree to the terms and conditions of this Agreement. 2. Definitions: Unless otherwise stated, all terms used in this Supplement have the same meaning as defined in the Customer Manual for Deposit Accounts (“Customer Manual”) Additional terms are defined as follows: a) “Card” or “Debit Card” refers to the State Bank of India, New York Branch Debit Card issued by the Bank to a Card Holder. The card issued is co-branded by MasterCard. b) “Card Holder” means the approved Customer who has been issued the Card and who is authorized/has the necessary mandate to hold and use the Card. Card Holder is referred to as “you”, “your”, or similar pronouns. Words in plural shall also mean and include those in singular and vice versa.
State Bank of India New York Customer Manual for Deposits 54 k) Under no circumstances shall the Bank be liable for any damages, whatsoever whether such damages are direct, indirect, incidental, consequential and irrespective of whether any claim is based on loss of revenue, investment, production, goodwill, profit, interruption of business or any other loss of any character of nature whatsoever and whether sustained by the Card Holder or any other third party. 15. Changes in Terms: The Bank may amend this Supplement from time to time in accordance with the changes provided in the Customer Manual. 16. Termination: The Bank reserves the right to cancel or withdraw the Card or any of the other services offered at any time without assigning any reason. a) If the Card Holder closes the Account, the Card(s) issued with the Account will be void. The Card Holder(s) must immediately cease to use the Card and destroy all additional Cards. If there are outstanding Transactions pending to the Account, the same will be netted out from the balance prior to the Bank returning the funds to the Card Holder. If the Account is closed, due to any reason whatsoever, prior to debit of any outstanding Card Transactions, Card Holder is liable to refund the amount along with the interest and charges applicable from time to time.
With respect to transactions done involving a debit card, generally, the Bank is not permitted to allow a debit cardholder to cancel a hold within MasterCard limits for Transactions that were authorized by the Card Holder but the cardholder is permitted to cancel, or place a stop payment, on a pre-authorized transaction scheduled to occur at regular intervals, such as a monthly utility payment or loan installment. Before requesting the Bank to stop a recurring payment, the Card Holder should take up with the merchant/ beneficiary for cancelling/ stopping such payment. The Bank may require details of such request made to the merchant/ beneficiary for acting upon Card Holder’s request. The Card Holder must give the Bank written instructions to cancel or stop such a payment at least three (3) days prior to the scheduled debit. The stop order takes effect when it is recorded on your account. While instructing us to stop payment of any check, please give us the check number, the amount, the date of issue and the name of the beneficiary in case of a pre-authorized recurring transaction, we will need the amount, the scheduled date of debit, name of the beneficiary and mode of transaction viz ACH or Debit Card. In the absence of complete and correct particulars, the stop order would be ineffective. If we fail to stop a payment and if you have requested us well in time and with all the particulars as detailed above, we will be liable for your losses or damages, limited to the amount of that check. An oral order is binding upon the Bank only for three (3) days unless confirmed in writing within that period. A written order will remain effective unless cancelled in writing.
State Bank of India New York Customer Manual for Deposits 37 purchase, but in some instances, they may be for a different amount as MasterCard’s rules permit "authorization" holds based upon an estimated amount of the transaction, and, in some instances, may include additional amounts authorized under MasterCard’s rules. The Card Holder agrees that such a “hold” may be placed on his account/accounts in the amount authorized. These authorization holds can affect the Card Holder’s available balance for other transactions. The amount of your available balance will be decreased by the amount of the “hold‟ for as long as the “hold‟ is in effect. This means that funds on “hold‟ will not be available for withdrawal, transfer or payment. In each instance, the Card Holder is responsible to the Bank for the amount that the Bank settles based upon either the placed-hold limits or the final amount presented and settled. The Card Holder will remain responsible to the Bank for settlement of all pre-authorized transactions even if such transactions come after the hold is removed. This is another reason that the Card Holder should take care to keep an accurate register and monitor the Account’s balance for pending transactions and cleared transaction to ensure that sufficient funds are in the Account at all times. k. Overdraft on Account of Pre-authorized Transactions: Please note that while the Bank does not provide any overdraft facility on your debit card transactions, the Bank shall have right to recover funds from you if your account gets over-drawn because the Bank has settled a preauthorized transaction done at a Merchant Establishment using your debit card or on account of other such transactions done using your debit card. You agree that you will remain responsible to the Bank for the amount by which your account is overdrawn. Any two occurrences of your account having non- sufficient funds to cover a pre-approved/ authorized debit card transaction will lead to closure of your account and cancellation of the linked debit card facility. l. Cancellation of Merchant debit-card authorizations: Generally, the Bank is not permitted to allow the Card Holder to cancel a hold within MasterCard limits for Transactions that were authorized by the Card Holder. If, however, the Card Holder suspects that a Transaction was fraudulent or otherwise unauthorized, the Card Holder should contact the Merchant and the Bank for possible ways to chargeback the debit. Please see the Error Resolution Procedures in subsequent paragraphs for more information. m. Notice Regarding Money Market Deposit Accounts: If the Account is a Money Market Deposit Account, certain limitations on transactions apply. A maximum of 6 transfers or withdrawals, or a combination of such transfers or withdrawals, are permitted during a calendar month or statement cycle of at least four weeks, including transfers or withdrawal by check, ACH to third parties, and/or Debit Card transactions with Merchant Establishments. However, any number of the following transactions using the Debit Card at an ATM are permitted: transfers of funds between your own Accounts held with the Bank and balance inquiries. n. International Transactions: Additionally, Card Holders may use the Card at ATMs and Merchant Establishments in U.S. and India. Any transaction done in INR will be converted to U.S. dollars. The exchange rate is established by MasterCard and not the Bank. The use of the Card may also be restricted with respect to certain foreign countries as required by U.S. laws and regulations. Any offer or option for exchange rate given by any ATM machine is no way related to SBI NY Branch and they are offered by local ATM service provider. Your account will be debited based upon the option selected by you.
State Bank of India New York Customer Manual for Deposits 51 allow the Card Holder to cancel a hold within MasterCard limits for Transactions that were authorized by the Card Holder. If, however, the Card Holder suspects that a Transaction was fraudulent or otherwise unauthorized, the Card Holder should contact the Merchant and the Bank for possible ways to chargeback the debit. Please see the Error Resolution Procedures in subsequent paras for more information. 10. Cancellation of pre-authorized Transactions scheduled at regular intervals: While a Card Holder is generally not permitted to cancel Debit Card Transactions and holds, the cardholder is permitted to cancel, or place a stop payment, on a pre-authorized transaction scheduled to occur at regular intervals, such as a monthly utility payment or loan installment. Before requesting the Bank for stopping a recurring payment, the cardholder should take up with the merchant/ beneficiary for cancelling/ stopping such payment. The Bank may require details of such request made to the merchant/ beneficiary for acting upon Card Holder’s request. The Card Holder must give the Bank written instructions to cancel or stop such a payment at least three (3) days prior to the scheduled debit. The stop payment instruction should be accompanied with a letter of indemnity signed by the Account holder/ Card Holder. The stop order takes effect when it is recorded on your Account. In case of a pre-authorized recurring transaction, we will need the amount, the scheduled date of debit, name of the beneficiary. In the absence of complete and correct particulars, the stop order would be ineffective. If we fail to stop a payment and if you have requested us well in time and with all the particulars as detailed above, we will be liable for your losses or damages. An oral order is binding upon the Bank only for fourteen days unless confirmed in writing within that period. A written order is effective for only six months unless renewed/cancelled in writing. You may inquire about the status of a pre-authorized transaction by calling us on 212-521-3342 on a business day and during the business hours. A fee of USD 10.00 will be charged for each stop payment request made.
e) Overdraft on Account of Pre-authorized Transactions: Please note that while the Bank does not provide any overdraft facility on your debit card transaction, the Bank shall have right to recover funds from you if your Account gets over-drawn because the Bank has settled a preauthorized transaction done at a Merchant Establishment using your debit card or on account of other such transactions done using your debit card. You agree that you will remain responsible to the Bank for the amount by which your Account gets overdrawn. Any two occurrences of your Account having non-sufficient funds to cover a pre-approved/ authorized debit card transaction will lead to closure of your Account and cancellation of the linked debit card facility. f) Cancellation of Merchant debit-card authorizations: Generally, the Bank is not permitted to
c) Available balance: Each time the Card Holder uses the Card, a hold is immediately placed on funds in the Account, reducing the available balance to pay checks and other debits that are presented to the Bank for payment. d) Holds on the Account: Typically, debit-card transaction “holds” are for the amount of the actual purchase, but in some instances, they may be for a different amount as MasterCard’s rules permit "authorization" holds based upon an estimated amount of the transaction, and, in some instances, may include additional amounts authorized under MasterCard’s rules. The Card Holder agrees that such a “hold” may be placed on his Account/Accounts in the amount authorized. These authorization holds can affect the Card Holder’s available balance for other transactions. The amount of your available balance will be decreased by the amount of the “hold‟ for as long as the “hold‟ is in effect. This means that funds on “hold‟ will not be available for withdrawal, transfer or payment. In each instance, the Card Holder is responsible to the Bank for the amount that the Bank settles based upon either the placed-hold limits or the final amount presented and settled. The Card Holder will remain responsible to the Bank for settlement of all pre-authorized transactions even if such transactions come after the hold is removed. This is another reason that the Card Holder should take care to keep an accurate register and monitor the Account’s balance for pending transactions and cleared transaction to ensure that sufficient funds are in the Account at all times.
9. ELECTRONIC FUND TRANSFERS (Applicable only to Consumer Accounts) a. Applicability: This section addresses the items and conditions which apply when you authorize Electronic Funds Transfers (EFT) of Federal recurring payments such as Social Security credits (SSA, SSI checks, etc.), ACH transactions and debit card transactions to your account. These terms apply if you receive a State Bank of India, New York Branch ATM-cum- Debit Card. If you are approved, the card is forwarded to you at your registered mailing address. By activating the card, you agree to these terms and conditions. All other terms and conditions for your account, as set forth in this Manual, will also apply. An Electronic Funds Transfer means any transfer of funds started through an electronic terminal or a magnetic tape for the purpose of instructing or authorizing us to credit/ debit your account. b. Definitions: Additional terms are defined as follows: “Card” or “Debit Card” refers to the State Bank of India -- New York Branch Debit Card issued by the Bank to a Card Holder. The card issued is co-branded by MasterCard. “Card Holder” means the approved Customer who has been issued the Card and who is authorized to hold and use the Card. Card Holder is referred to as “you”, “your”, or similar pronouns. Words in
State Bank of India New York Customer Manual for Deposits 36 or disclosed to a third party. The security of the PIN is the Card Holder’s responsibility. e. Funds: The Card Holder will maintain sufficient funds in the Account as necessary to cover any transactions at the time they are initiated. The Card Holder should not use or attempt to use the Card without sufficient funds in the Account. In the event of payment/debit made in excess of the balance available in the Account, Card Holder will be responsible to the Bank for the amount of any transaction completed and will also be responsible to the Bank for the Service Fee disclosed in the Schedule of Fees and Charges. h. Periodic Statements: Periodic Statements of the Account will be sent to the Card Holder as provided in Customer Manual. If you expect to receive any preauthorized transfer to your account, you may call 212-521-3286 to determine whether your transfer has been received. e. Expiration/Renewal: The Card is valid up to the last day of the month/year indicated on the Card. A renewal Card shall be sent by the Bank before the expiry of the Card at the discretion of the Bank. The Bank reserves the sole right to renew the Card account on expiry. The Card Holder is responsible for destroying the expired Card. Unless we are notified in writing otherwise, re-issued cards will be sent to your last known address according to the records of the Bank. f. Transfer types and Limitations: The Card is accepted at all electronic chip enabled Point-of-Sale (POS) terminals at stores and vendors (Merchant Establishments) displaying MasterCard or STAR logos. The Card is accepted at STAR Network ATMs and may be accepted at ATMs operated by other banks or financial institutions. The Card may be used to make purchases at an electronic chip enabled Point-of-Sale terminal, to pay bills directly by telephone, internet, or other means, or to make other such electronic transfers from an account. The Card may be used to withdraw cash from the Account, transfer funds between Accounts, and obtain Account balance information. Card Holder is entitled to receive a receipt of ATM Transactions containing sufficient information to identify the transaction and the terminal used. You cannot deposit cash or checks at ATMs. The Bank will have no liability if you deposit cash or checks at an ATM. g. Daily Use Limits: A Card Holder may use the Card to make purchases up to $2000.00 per day at Merchant Establishments or such other limits as the Bank may establish from time to time. The Bank may lower these limits in case of a technical failure. A Card Holder may withdraw up to $1000.00 per day at ATMs. The Bank reserves the right to lower this limit in case of a technical failure. h. Debit-card clearing: Debit-card Transactions may clear the Account differently than checks and traditional ATM card transactions. Because these transactions clear differently, the Card Holders should take care to keep an accurate register and monitor the Account’s balance for pending transactions and cleared transactions in order to avoid unwanted fees and other items being returned. i. Available balance: Each time the Card Holder uses the Card, a hold is immediately placed on funds in the account, reducing the available balance to pay checks and other debits that are presented to the Bank for payment. j. Holds on the account: Typically, debit-card transaction “holds” are for the amount of the actual
State Bank of India New York Customer Manual for Deposits 54 k) Under no circumstances shall the Bank be liable for any damages, whatsoever whether such damages are direct, indirect, incidental, consequential and irrespective of whether any claim is based on loss of revenue, investment, production, goodwill, profit, interruption of business or any other loss of any character of nature whatsoever and whether sustained by the Card Holder or any other third party. 15. Changes in Terms: The Bank may amend this Supplement from time to time in accordance with the changes provided in the Customer Manual. 16. Termination: The Bank reserves the right to cancel or withdraw the Card or any of the other services offered at any time without assigning any reason. a) If the Card Holder closes the Account, the Card(s) issued with the Account will be void. The Card Holder(s) must immediately cease to use the Card and destroy all additional Cards. If there are outstanding Transactions pending to the Account, the same will be netted out from the balance prior to the Bank returning the funds to the Card Holder. If the Account is closed, due to any reason whatsoever, prior to debit of any outstanding Card Transactions, Card Holder is liable to refund the amount along with the interest and charges applicable from time to time.
State Bank of India New York Customer Manual for Deposits 48 Annexure B Debit Card agreement: Please read the Debit Card agreement given below to have a detailed view of terms and conditions applicable for the use of this service. The Debit Card agreement is also available on our website https://sbinewyork.statebank . 1. Agreement: This Agreement is provided at the time you apply for a State Bank of India, New York Branch ATM Debit Card. If you are approved, the card is forwarded to you. By activating the card, you agree to the terms and conditions of this Agreement. 2. Definitions: Unless otherwise stated, all terms used in this Supplement have the same meaning as defined in the Customer Manual for Deposit Accounts (“Customer Manual”) Additional terms are defined as follows: a) “Card” or “Debit Card” refers to the State Bank of India, New York Branch Debit Card issued by the Bank to a Card Holder. The card issued is co-branded by MasterCard. b) “Card Holder” means the approved Customer who has been issued the Card and who is authorized/has the necessary mandate to hold and use the Card. Card Holder is referred to as “you”, “your”, or similar pronouns. Words in plural shall also mean and include those in singular and vice versa.
Lost or Stolen Card: If the Card is lost or stolen or someone has transferred funds from Card Holder’s Account without his/ her permission, the Card Holder must report the loss to the STAR Network immediately by calling the 24-hour toll-free number shown below or other numbers that may be numbers provided herein. If the Card Holder notifies the Bank within 2 business days of the loss or theft of the Card, the Card Holder’s loss due to unauthorized use of the Card is limited to $50. If the Card Holder does not notify the Bank within 2 business days of the loss or theft of the Card, and the Bank can prove that earlier notification could have prevented the use of the Card, the Card Holder’s liability for the loss could be as much as $500. If the theft is reported after 60 calendar days of the showing of fraud, the card holder may be liable for all unauthorized charges. If you believe that there has been un-authorized transaction(s) using your debit card, please contact us immediately. A Lost or Stolen Card may be reported by contacting: 1-800-523-4175. This toll-free number is available 24-hours a day. 12. Error Resolution: Disputes of ATM or Merchant Establishment Transactions appearing on the Card Holder’s Periodic Statement are subject to the Error Resolution Procedure as mentioned herein. Your rights to a refund or returned merchandise are generally the same as if you had paid by cash or check, and generally must be resolved with the merchant. a) You will get a monthly statement of your Checking/Money Market Account. If you think your statement or receipt is wrong or if you need more information about a transaction listed on the statement, or if you feel that there are other errors or if you have questions about your debit card transactions, please telephone or write to us at the following address: State Bank of India Deposit Section 460 Park Avenue, New York, N.Y 10022 Tel: (212)521-3200/3342 b) For error resolution, we must hear from you no later than 60 days after we sent the first statement on which the problem or error appeared. When writing to us about the error: • Tell us your name and Account number. • Describe the error or the transfer you are unsure about and explain as clearly as you can why you believe it is an error or why you need more information. • Tell us the dollar amount of the error.

Test Case

Question: What is the minimum daily balance required to be maintained to avoid monthly service charges for a US Resident Business/Associations Checking Account?

Metric Baseline Score Current Score
answer_accuracy 0.01301115 0.01330798 (+0.00029683)
groundedness 0.90576836 0.90206903 (-0.00369932)
mean_answer_similarity 0.81979353 0.79254074 (-0.02725279)
mean_reciprocal_rank 1.00000000 1.00000000
min_answer_similarity 0.77828499 0.76871045 (-0.00957454)
model_failures 0.00000000 0.00000000
model_generation_failures 0.00000000 0.00000000
model_parse_failures 0.00000000 0.00000000
model_passes 1.00000000 1.00000000
model_retrieval_failures 0.00000000 0.00000000
precision_relevancy 0.89475644 0.88773262 (-0.00702383)
recall_relevancy 0.95429033 0.95429033
rouge_1 0.04210526 0.04347826 (+0.00137300)
rouge_2 0.02150538 0.02222222 (+0.00071685)
rouge_l 0.04210526 0.04347826 (+0.00137300)

Legend:

  • Metric : The evaluation metric name. Shown in bold red if the metric flipped between pass/fail status.
  • Baseline Score : The metric value for the baseline model. Shown in bold green if baseline won, red if lost.
  • Current Score : The metric value for the current model, followed by the delta from baseline in parentheses.
  • Delta Colors : Green = improvement, Orange = regression, Red = metric flipped to fail.
  • Winner Determination : For each metric, the winner is determined by comparing scores while considering the metric's directionality (higher is better vs. lower is better).
Baseline Result Current Result
Model claude-3-7-sonnet-20250219@h2ogpte claude-3-7-sonnet-20250219@h2ogpte
Question What is the minimum daily balance required to be maintained to avoid monthly service charges for a US Resident Business/Associations Checking Account?
Expected answer $20,000
Actual Answer According to the document, the minimum daily balance required to be maintained to avoid monthly service charges for a US Resident Business/Associations Checking Account is $20,000. This information is found on page 10 of the document, where it states that for a Checking Account, the minimum daily balance for a US Resident Business/Associations account is $20,000. If the balance falls below this minimum on any day of the month, a monthly service charge of $50 will be imposed, as indicated in the Schedule of Fees & Charges on page 45. According to the document, the minimum daily balance required to be maintained to avoid monthly service charges for a US Resident Business/Associations Checking Account is $20,000. This information is found on page 10 of the "Customer Manual for Deposits" from State Bank of India New York, which shows a table of minimum balance requirements. If the balance falls below this minimum on any day of the month, a monthly service charge of $50 will be imposed, as indicated in the "Schedule of Fees & Charges" section on page 45.
Retrieved Context
e. Withdrawals: When writing checks on your Checking or Money Market Deposit Account, please ensure that:  The amount is stated in US dollars;  The amount is within the available balance in your account. The available balance in your account may be affected because of other transactions, including debit card transactions. Checks which exceed the available balance in your account may be returned unpaid and are subject to a charge as indicated in “Schedule of Fees & Charges”. The Bank reserves the right to pay a stale check, i.e., a check more than 6 months old. A request for a withdrawal or transfer may not be honored in circumstances such as, but not limited to, these:  If the Bank has instructions to the contrary from a joint account holder. In such cases the signatures of all account holders would be required on any authorization.  If a court order/legal process prohibits the Bank from doing so.  If the Bank suspects fraud or violation, including money laundering.  If there is a dispute to the Bank’s knowledge.  If the account is pledged as collateral and has been set-off against overdue debts.  If the account is seized by State /Federal agency.  If the payee is not properly identified to us.  If the withdrawal/transfer exceeds the permissible number (e.g., more than 6 checks per statement period in Money Market Deposit Accounts).
3.5 Limited Liability Company (“LLC”) The following documents are required:  The LLC’s organizational documents (Articles of Organization and Operating Agreement)  The names of all the members and managers of the LLC shall be provided with all the same identification as required for corporations above.  A certified copy of a resolution of the Managers of the LLC providing all the same information required in the corporate resolution set forth above.  Certificate of Beneficial owners, wherever applicable. 4. TYPES OF ACCOUNTS Three types of deposit accounts may be opened:  Checking Account  Money Market Deposit (MMD) Account  Certificate of Deposit (CD) Account 4.1 Checking Account This is a non-interest bearing account with no restrictions on the number of withdrawals or credits. However, Bank has the discretion to pay interest on a product variant. The minimum deposit required for opening an account is the minimum daily balance requirement for the account which is tabled below. The daily minimum balance required to be maintained to avoid monthly service charges are as follows:
State Bank of India New York Customer Manual for Deposits 10 Consumer Account Business/ Associations US Resident $1,000 $20,000 Non- US Resident $10,000 $50,000 A minimum balance service charge as listed in our “Schedule of Fees & Charges” in this Manual will be imposed every month if the balance in the account falls below the required minimum during any day of a calendar month. If the balance is less than the amount required to be deducted as a service charge, the available balance will be treated as service charges and the account may be closed forthwith, with notice to the customer at the last available address in our records. A checking account for a Non US resident consumer or business/association will be opened at the sole discretion of the Bank and as per its policy, either on the same terms and conditions as for U.S.-resident customers or on separate terms and conditions. No overdraft is permitted under any circumstances in this account. Any check presented with insufficient funds will be dishonored. Service charges are listed in our “Schedule of Fees & Charges” in this Manual. Early closure fees will apply if you close your account within three months of opening. The Bank will provide a statement of account at monthly intervals. 4.1.1 Basic Checking Account In order to provide low cost banking services, we offer “basic banking” checking accounts to all consumers who fulfill the following requirements: • Residents of New York State. • The consumer is required to close all other transaction accounts with our Bank or any other banking institution and will be given a period of 60 days (from the date the basic banking account is opened) to do so. If other transaction account/s is/are not closed within 60 days, the said basic checking account shall be closed by the Bank. • Receive direct credit of a recurring payment such as Social Security, wages or pension payments. • Have limited monthly transactions. • Desire basic checking services. Salient Features of Basic Checking Accounts a. Minimum deposit to open the account: $25. b. Minimum monthly balance required to be maintained: No minimum balance. c. Monthly maintenance fee: i) Nil, if the daily balance is $500 or more. ii) Otherwise $3 per month.
The following is indicative list of eligible non-limited transactions:  Deposits  ATM Cash withdrawals subject to daily amount limits and sufficient available funds in the account  Withdrawals made in person or by mail at State Bank of India New York  Transfers made in person at State Bank of India New York The following is indicative list of transactions subject to the limit of (SIX) transfers:  Checks, Point of Sale (POS) transactions or debit card purchases  Automatic transfers to another deposit account at SBI, New York  Automatic transfers to a third party or another institution  Telephonic transfers including those initiated by phone call, fax, email through a Bank's representative  Online banking transfers and bill payments Should more than 6 (six) transfers or withdrawals which are subject to the limit, be effected in a month in an MMDA account, an excess check writing fee of $5.00 per excess check or transfer will be levied. Further, if the customer continues to violate the prescribed limit repeatedly, we shall send a letter to the customer, notifying him/her of the violation and also of our policy for reclassifying the account as Checking Account. In case the customer is not agreeable for reclassification, the account will be closed. The Bank reserves the right to enforce this clause if prescribed limits are violated in three consecutive months. We also reserve the right to refuse any transaction(s) which exceed the permissible limit. We are required by law to reserve the right of 7 days’ advance notice before permitting a withdrawal. However, we do not currently exercise this right.
b) The Bank shall be entitled to terminate the Card with immediate effect without notice and the Card shall be returned upon the occurrence of any of the following events: • Card Holder’s failure to comply with the terms and conditions herein. • The Card Holder’s default under an agreement or commitment entered into with the Bank. • The Card Holder becomes the subject of any bankruptcy, insolvency proceedings or proceedings of the similar nature. • Demise of the Cardholder. • Failure to maintain minimum required balance to cover transactions. s. Error Resolution: Disputes of ATM or Merchant Establishment Transactions appearing on the Card Holder’s Periodic Statement are subject to the Error Resolution Procedure as mentioned herein. Your rights to a refund or returned merchandise are generally the same as if you had paid by cash or check, and generally must be resolved with the merchant. You will get a monthly statement of your Checking/Money Market account, if the account is not inactive or dormant, which will contain the details of your Debit Card transactions. If you think your statement or receipt is wrong or if you need more information about a transaction listed on the statement, or if you feel that there are other errors or if you have questions about your debit card transactions, please follow the procedures listed here: a) Initial and annual error resolution In Case of Errors or Questions About Your Electronic Transfers telephone or write to us at the following address: State Bank of India Deposit Section 460 Park Avenue, New York, N.Y 10022 Tel: (212)521-3342/3318 as soon as you can, if you think your statement or receipt is wrong or if you need more information about a transfer listed on the statement or receipt. We must hear from you no later than 60 days after we sent the FIRST statement on which the problem or error appeared.
State Bank of India New York Customer Manual for Deposits 45 B. Service Fees & Charges Consumer Accounts Accounts of Business/ Associations Excess Transaction charges – Each transaction in Money Market Accounts in excess of 6 transfers or withdrawals or a combination of these in a statement period. $5 $5 Checks returned or paid against insufficient or unavailable funds # $10 $15 SCHEDULE OF FEES & CHARGES Minimum Balance Requirements & Service Charges Checking Account Money Market Account Consumer A/C Business/Associations Consumer A/c Business/Associations USA Resident Minimum daily balance 1,000 $ 20,000 $2,500 $ 50,000 Monthly service charge (if the balance falls below minimum on any day of the month) $15* (effective 01/01/2020) $ 50 $20* (effective 01/01/2020) $ 50 Non-USA Resident Minimum daily balance Opened at the sole discretion of the Bank and as per its Policy. Minimum balance is $10,000 Opened at the sole discretion of the Bank and as per its Policy. Minimum balance is $ 50,000 Opened at the sole discretion of the Bank and as per its Policy. Minimum balance is $ 25,000 Opened at the sole discretion of the Bank and as per its Policy. Minimum balance is $ 100,000 Monthly service charge (if the balance falls below minimum on any day of the month) $20* (effective 01/01/2020) $50 $25* (effective 01/01/2020) $50 Note : Consumer accounts = Accounts of natural persons
State Bank of India New York Customer Manual for Deposits 11 age or older. For every additional withdrawal or check beyond above mentioned number in a statement cycle, $5 will be recovered e. Restriction on the number of credits/deposits: No restriction. f. Availability of account statement and frequency of monthly statement: Account statements at monthly intervals will be provided. 4.2 Money Market Deposit (MMD) Account This is an interest-bearing account from which withdrawals can be made in accordance with certain prescribed restrictions. Tiered interest rate is available on money market accounts based on the balances available in the account. The minimum deposit required for opening an account is the minimum daily balance requirement for the account which is tabled below. The daily minimum balances required to be maintained to avoid monthly service charges are as follows: Consumer Account Business/ Associations US Resident Customer $2,500 $50,000 Non-US Resident Customer $25,000 $ 100,000 A minimum balance service charge as listed in our “Schedule of Fees & Charges” in this Manual will be imposed every month if the balance in the account falls below the required minimum during any day of a calendar month. If the balance is less than the amount required to be deducted as service charge, the so available balance will be treated as service charges and the account may be closed forthwith, with notice to the customer at the last available address in our records. No overdraft is permitted under any circumstances in this account. Any check presented with insufficient funds will be dishonored. Service charges are listed in our “Schedule of Fees & Charges” in this Manual. A Money Market Deposit Account for Non-US Resident consumer or business/association would be opened at the sole discretion of the Bank and as per its policy, either on the same terms and conditions as for U.S- resident customers or on mutually agreed terms and conditions. Monthly service charges are listed in our “Schedule of Fees & Charges” in this Manual. Early closure fees will apply if you close your account within three months of opening. Other Features of Money Market Deposit Accounts a. Interest Rate: Tiered interest rate is available on MMD accounts based on the balances available in account. Interest rate on these accounts may vary from time to time. The Bank reserves the right to change the rate at any time. There is no limitation as to the percentage amount the interest rate may vary. You may visit our website https://sbinewyork.statebank or call (212) 521-3200 for information on the current rate of interest. b. Payment of Interest: Interest will accrue on your day-end balance. Interest earned during the month will be credited to the account at the close of business on the last business day of the month and will be made available to you on the first business day of the following month. There is no minimum balance required to earn the stated annual percentage yield. For non-cash deposits made into your account (for example checks) interest begins to accrue no later than the business day we receive credit for the deposit of the non-cash items. If the account is closed during the middle of a
m. Change of Address, e-mail address, telephone number and account details: Please update us promptly of any change of address, e-mail address, telephone number or account details and include a complete list of all your accounts and account numbers. Please use Customer Information Update Form (CIP Form) available on our website for update of any information and submit the same along with copy of valid Photo ID and Address proof. Bank reserves the right to ask for additional documents on a case to case basis. If you do not inform us of the changes, mailing of account statements may be withheld and the accounts may be blocked for further transactions until we hear from you. Bank may ask you to update your account information through remediation form as and when there is any material change, or whenever bank requires. If this information is not provided within a reasonable time (30 days), the Bank may decide to decline further transactions in the account and may also close the account if not received the same in subsequent 60 days. For proof of the new address, a utility bill, State issued ID with current address, or Letter issued by Government Authority to the current address to give effect to your change of address request may be provided. All requests for Change of Address, e-mail address, telephone number and account details should be submitted along with a copy of valid ID document. Bank may also call you on your registered number for confirming the details given on the request. If your signed request for email/phone number change is received through modes other than online banking and over the counter, there will be a 30 day debit restriction on your account. n. Closing an Account: You may close your Checking /Money Market Deposit Account at any time provided the funds on deposit are not held against uncollected deposited checks or attached by any legal action. A service charge would apply to Checking/Money Market Deposit Accounts closed within three months of opening. If a hold is placed on your account because of a pre-approved merchant transaction done using your debit card, the Bank may not close the account until the transaction is completed or the hold is removed.
c. Deposits: You can make deposits: • By check in person, during regular banking hours at the teller counter at the Bank. (Our regular banking hours are 9 AM - 4 PM ET Monday through Friday. Cash services are available only up to 3 PM ET) • By check in mail • By wire transfer • By pre-authorized credit such as for Social Security benefits • By cash in person, at our discretion Cash deposits may be subject to the Bank Secrecy Act reporting provisions. You may be asked to show a valid state id for cash deposit. There are no restrictions on the number of deposits in both Checking and Money Market Deposit Accounts. Funds will be made available in Checking Accounts as described in section 8 “Funds Availability.” The Bank maintains the right, for any reason or for no reason, to refuse to accept a deposit, or return in full or in part any deposit. Note - Check received in mail on any given day will be processed only on next business day. d. The Bank as Collecting Agent: The Bank accepts items for deposit or collection, as your collecting agent, subject to the following conditions:  All items will be credited subject to actual payment.  If payment is not received and the instrument is returned unpaid, the Bank shall have the right to charge back the item to your account. A service charge will also be levied for checks returned unpaid.
State Bank of India New York Customer Manual for Deposits 21 l. Charges: We reserve the right to charge your account in accordance with the “Schedule of Fees & Charges” in circumstances such as, but not limited to, the following: • If a check deposited by you has been returned unpaid. • If there are insufficient funds in your account to cover a check you have issued. • If you use a service that involves a fee or a charge, e.g., issue of official checks or recovery of charges by a bank through which a wire transfer has been sent. • If there is a monthly service charge due to non-maintenance of minimum balance. • If we are required to comply with any legal process in connection with your account. • If you desire stop payment of a check. • If a postdated check written by you has been returned unpaid. • If we confirm the balance in your account to a third party under your authorization. • If you desire us to furnish credit information related to your account. • If you desire copies of your records. • If you give us a standing instruction. The Bank will not be responsible if it refuses to pay a check you have issued if there are not enough funds in the account after we have deducted a service charge.
State Bank of India New York Customer Manual for Deposits 12 month, accrued interest will be credited and paid. Accrued interest will be credited to your account prior to closing the same. c. Compounding Method: Your Money Market Deposit Account earn simple interest on a 360 days’ basis which accrues daily based on the end-of-the-day balance. The daily balance method will be used to calculate the interest on the account. This method applies a daily periodic rate to the principal in the account each day. Although interest accrues daily, you may not withdraw the earnings until the first business day of the following calendar month, when the same is credited into the account, provided the account is not closed. If not withdrawn, interest is added to and becomes part of the account balance. Since interest is added to your total account balance, any credited interest in the account is, effectively, compounded monthly. d. Annual Percentage Yield: The annual percentage yield earned (APYE) for the statement period will be advised with each monthly statement account. e. Withdrawals: A maximum of 6 transfers or withdrawals, or a combination of such transfers or withdrawals, are permitted during a calendar month or statement cycle of at least four weeks. For the purpose of this limit, preauthorized, automatic transfers (including but not limited to transfer from savings deposit for overdraft protection or for direct bill payments) and transfers and withdrawals initiated by telephone, facsimile, or computer and transfers made by check, debit card or other similar order made by the depositor and payable to third parties is included.
State Bank of India New York Customer Manual for Deposits 45 B. Service Fees & Charges Consumer Accounts Accounts of Business/ Associations Excess Transaction charges – Each transaction in Money Market Accounts in excess of 6 transfers or withdrawals or a combination of these in a statement period. $5 $5 Checks returned or paid against insufficient or unavailable funds # $10 $15 SCHEDULE OF FEES & CHARGES Minimum Balance Requirements & Service Charges Checking Account Money Market Account Consumer A/C Business/Associations Consumer A/c Business/Associations USA Resident Minimum daily balance 1,000 $ 20,000 $2,500 $ 50,000 Monthly service charge (if the balance falls below minimum on any day of the month) $15* (effective 01/01/2020) $ 50 $20* (effective 01/01/2020) $ 50 Non-USA Resident Minimum daily balance Opened at the sole discretion of the Bank and as per its Policy. Minimum balance is $10,000 Opened at the sole discretion of the Bank and as per its Policy. Minimum balance is $ 50,000 Opened at the sole discretion of the Bank and as per its Policy. Minimum balance is $ 25,000 Opened at the sole discretion of the Bank and as per its Policy. Minimum balance is $ 100,000 Monthly service charge (if the balance falls below minimum on any day of the month) $20* (effective 01/01/2020) $50 $25* (effective 01/01/2020) $50 Note : Consumer accounts = Accounts of natural persons
State Bank of India New York Customer Manual for Deposits 50 but will be credited back to your Account by the Bank. A Card Holder may withdraw up to $1000.00 per day at ATMs. The Bank reserves the right to lower this limit in case of a technical failure. 9. Debit Card Use with Merchants: The Card is accepted at all electronic Point-of-Sale (POS) terminals at stores and vendors (Merchant Establishments) displaying MasterCard or STAR logos. The Card may be used to make purchases at a chip enabled electronic Point-of-Sale terminal, to pay bills directly by telephone, internet, or other means, or to make other such electronic transfers from an Account. a) Daily Use Limits: A Card Holder may use the Card to make purchases up to $2000.00 per day at Merchant Establishments or such other limits as the Bank may establish from time to time. The Bank may lower these limits in case of a technical failure. b) Debit-card clearing: Debit-card Transactions may clear the Account differently than checks and traditional ATM card transactions. Because these transactions clear differently, the Card Holder should take care to keep an accurate register and monitor the Account’s balance for pending transactions and cleared transactions in order to avoid unwanted fees and other items being returned.
State Bank of India New York Customer Manual for Deposits 46 Deposited checks returned unpaid # $10 $10 Closing of Checking or Money Market account within 3 months of opening $25 $25 Listing of Stop Payment request valid for 6 months per check, per ACH debit or debit card preauthorized transfers stopped (maximum $50 at one time) $15 $15 Stop Check Request through YONO US Portal (Min. 1 leaf Max: 10 leaves within same range) $15 for one leaf $30 for 2 leaves $45 for 3 leaves $50 for 4-10 leaves Not Applicable Cancellation of Stop Payment request per check, ACH debit or debit card preauthorized transfers stopped $15 $15 Expedited Delivery of Debit Card Actual cost charged by the service provider -- Per item charge for copy of paid checks/deposited checks, withdrawals or tickets - For current calendar year - For previous calendar year - For other years (up to 5 previous years) *per preceding year beyond previous year $5 $10 $15 * $5 $10 $15 * Charges per page of account statements - For current calendar year - For previous calendar year - For all other years (up to 5 previous years) *per preceding year beyond previous year $5 $10 $15 * $5 $10 $15 * Transfer of funds from Checking to MMD or vice-versa (per transfer) / between two accounts Manual transfer Online transfer $5 Free $5 Free Credit reference $10 $10 Issue of local official checks/certified checks $10 $10 Cash handling charges (per thousand or part thereof after first $1000 deposit in a day) NIL for less than $1000 $2 $2
State Bank of India New York Customer Manual for Deposits 11 age or older. For every additional withdrawal or check beyond above mentioned number in a statement cycle, $5 will be recovered e. Restriction on the number of credits/deposits: No restriction. f. Availability of account statement and frequency of monthly statement: Account statements at monthly intervals will be provided. 4.2 Money Market Deposit (MMD) Account This is an interest-bearing account from which withdrawals can be made in accordance with certain prescribed restrictions. Tiered interest rate is available on money market accounts based on the balances available in the account. The minimum deposit required for opening an account is the minimum daily balance requirement for the account which is tabled below. The daily minimum balances required to be maintained to avoid monthly service charges are as follows: Consumer Account Business/ Associations US Resident Customer $2,500 $50,000 Non-US Resident Customer $25,000 $ 100,000 A minimum balance service charge as listed in our “Schedule of Fees & Charges” in this Manual will be imposed every month if the balance in the account falls below the required minimum during any day of a calendar month. If the balance is less than the amount required to be deducted as service charge, the so available balance will be treated as service charges and the account may be closed forthwith, with notice to the customer at the last available address in our records. No overdraft is permitted under any circumstances in this account. Any check presented with insufficient funds will be dishonored. Service charges are listed in our “Schedule of Fees & Charges” in this Manual. A Money Market Deposit Account for Non-US Resident consumer or business/association would be opened at the sole discretion of the Bank and as per its policy, either on the same terms and conditions as for U.S- resident customers or on mutually agreed terms and conditions. Monthly service charges are listed in our “Schedule of Fees & Charges” in this Manual. Early closure fees will apply if you close your account within three months of opening. Other Features of Money Market Deposit Accounts a. Interest Rate: Tiered interest rate is available on MMD accounts based on the balances available in account. Interest rate on these accounts may vary from time to time. The Bank reserves the right to change the rate at any time. There is no limitation as to the percentage amount the interest rate may vary. You may visit our website https://sbinewyork.statebank or call (212) 521-3200 for information on the current rate of interest. b. Payment of Interest: Interest will accrue on your day-end balance. Interest earned during the month will be credited to the account at the close of business on the last business day of the month and will be made available to you on the first business day of the following month. There is no minimum balance required to earn the stated annual percentage yield. For non-cash deposits made into your account (for example checks) interest begins to accrue no later than the business day we receive credit for the deposit of the non-cash items. If the account is closed during the middle of a
State Bank of India New York Customer Manual for Deposits 57 charges applicable from time to time. The Bank shall be entitled to terminate the Card with immediate effect without notice and the Card shall be returned upon the occurrence of any of the following events: 1. Card Holders Holder’s failure to comply with the terms and conditions herein. 2. The Card Holder’s default under an agreement or commitment entered into with the Bank. 3. The Card Holder becomes the subject of any bankruptcy, insolvency proceedings or proceedings of the similar nature. 4. Demise of the Cardholder. 5. Failure to maintain minimum required balance to cover transactions.
State Bank of India New York Customer Manual for Deposits 36 or disclosed to a third party. The security of the PIN is the Card Holder’s responsibility. e. Funds: The Card Holder will maintain sufficient funds in the Account as necessary to cover any transactions at the time they are initiated. The Card Holder should not use or attempt to use the Card without sufficient funds in the Account. In the event of payment/debit made in excess of the balance available in the Account, Card Holder will be responsible to the Bank for the amount of any transaction completed and will also be responsible to the Bank for the Service Fee disclosed in the Schedule of Fees and Charges. h. Periodic Statements: Periodic Statements of the Account will be sent to the Card Holder as provided in Customer Manual. If you expect to receive any preauthorized transfer to your account, you may call 212-521-3286 to determine whether your transfer has been received. e. Expiration/Renewal: The Card is valid up to the last day of the month/year indicated on the Card. A renewal Card shall be sent by the Bank before the expiry of the Card at the discretion of the Bank. The Bank reserves the sole right to renew the Card account on expiry. The Card Holder is responsible for destroying the expired Card. Unless we are notified in writing otherwise, re-issued cards will be sent to your last known address according to the records of the Bank. f. Transfer types and Limitations: The Card is accepted at all electronic chip enabled Point-of-Sale (POS) terminals at stores and vendors (Merchant Establishments) displaying MasterCard or STAR logos. The Card is accepted at STAR Network ATMs and may be accepted at ATMs operated by other banks or financial institutions. The Card may be used to make purchases at an electronic chip enabled Point-of-Sale terminal, to pay bills directly by telephone, internet, or other means, or to make other such electronic transfers from an account. The Card may be used to withdraw cash from the Account, transfer funds between Accounts, and obtain Account balance information. Card Holder is entitled to receive a receipt of ATM Transactions containing sufficient information to identify the transaction and the terminal used. You cannot deposit cash or checks at ATMs. The Bank will have no liability if you deposit cash or checks at an ATM. g. Daily Use Limits: A Card Holder may use the Card to make purchases up to $2000.00 per day at Merchant Establishments or such other limits as the Bank may establish from time to time. The Bank may lower these limits in case of a technical failure. A Card Holder may withdraw up to $1000.00 per day at ATMs. The Bank reserves the right to lower this limit in case of a technical failure. h. Debit-card clearing: Debit-card Transactions may clear the Account differently than checks and traditional ATM card transactions. Because these transactions clear differently, the Card Holders should take care to keep an accurate register and monitor the Account’s balance for pending transactions and cleared transactions in order to avoid unwanted fees and other items being returned. i. Available balance: Each time the Card Holder uses the Card, a hold is immediately placed on funds in the account, reducing the available balance to pay checks and other debits that are presented to the Bank for payment. j. Holds on the account: Typically, debit-card transaction “holds” are for the amount of the actual
State Bank of India New York Customer Manual for Deposits 20 If you apply for a duplicate official check or a refund within 180 days of the date of the check, the Bank would require you and the payee to jointly sign an affidavit of loss and indemnity, referred to as Indemnity Agreement. You may also be required to submit a Surety Bond for twice the amount of the instrument or to place sufficient funds as security with us. After 180 days, an affidavit of loss and indemnity alone may suffice. A fee (see “Schedule of Fees & Charges”) will be charged for each stop payment request. i. Your Records: Your cancelled check(s) or substitute check(s), copies of special withdrawal form(s) and acknowledgment(s) on deposit slip(s) are your records. Paid and cancelled checks or substitute checks will be mailed with the statement of accounts to U.S. based customers. The cancelled checks or substitute checks for non-U.S. based accounts will normally be retained by the Bank. j. Statement of Account: Both Checking and Money Market Deposit Accounts are statement accounts. For all active statement accounts (that is, accounts which are not inactive or dormant as explained in Section 5.2) at least once in a calendar month, we will send a statement showing all account activities during the previous statement period. This statement will indicate your balance on the statement date and will give you an itemized, date-wise listing of all credits, all paid checks/ transfers, transactions put through using the linked debit card, interest earned, and any maintenance and service charges levied. It will also indicate the annual percentage yield earned (APYE) in effect during the period, if the account is interest bearing. All statements will be mailed to the last address known to the Bank by regular mail. For additional statements and other modes of sending statements, charges will be extra. No periodic account statements will be sent on CD accounts. Statements of Account are not available online, however, you may view the transactions online through internet banking.
State Bank of India New York Customer Manual for Deposits 10 Consumer Account Business/ Associations US Resident $1,000 $20,000 Non- US Resident $10,000 $50,000 A minimum balance service charge as listed in our “Schedule of Fees & Charges” in this Manual will be imposed every month if the balance in the account falls below the required minimum during any day of a calendar month. If the balance is less than the amount required to be deducted as a service charge, the available balance will be treated as service charges and the account may be closed forthwith, with notice to the customer at the last available address in our records. A checking account for a Non US resident consumer or business/association will be opened at the sole discretion of the Bank and as per its policy, either on the same terms and conditions as for U.S.-resident customers or on separate terms and conditions. No overdraft is permitted under any circumstances in this account. Any check presented with insufficient funds will be dishonored. Service charges are listed in our “Schedule of Fees & Charges” in this Manual. Early closure fees will apply if you close your account within three months of opening. The Bank will provide a statement of account at monthly intervals. 4.1.1 Basic Checking Account In order to provide low cost banking services, we offer “basic banking” checking accounts to all consumers who fulfill the following requirements: • Residents of New York State. • The consumer is required to close all other transaction accounts with our Bank or any other banking institution and will be given a period of 60 days (from the date the basic banking account is opened) to do so. If other transaction account/s is/are not closed within 60 days, the said basic checking account shall be closed by the Bank. • Receive direct credit of a recurring payment such as Social Security, wages or pension payments. • Have limited monthly transactions. • Desire basic checking services. Salient Features of Basic Checking Accounts a. Minimum deposit to open the account: $25. b. Minimum monthly balance required to be maintained: No minimum balance. c. Monthly maintenance fee: i) Nil, if the daily balance is $500 or more. ii) Otherwise $3 per month.
State Bank of India New York Customer Manual for Deposits 21 l. Charges: We reserve the right to charge your account in accordance with the “Schedule of Fees & Charges” in circumstances such as, but not limited to, the following: • If a check deposited by you has been returned unpaid. • If there are insufficient funds in your account to cover a check you have issued. • If you use a service that involves a fee or a charge, e.g., issue of official checks or recovery of charges by a bank through which a wire transfer has been sent. • If there is a monthly service charge due to non-maintenance of minimum balance. • If we are required to comply with any legal process in connection with your account. • If you desire stop payment of a check. • If a postdated check written by you has been returned unpaid. • If we confirm the balance in your account to a third party under your authorization. • If you desire us to furnish credit information related to your account. • If you desire copies of your records. • If you give us a standing instruction. The Bank will not be responsible if it refuses to pay a check you have issued if there are not enough funds in the account after we have deducted a service charge.

Test Case

Question: Can the bank provisionally credit the account for the amount thought to be in error?

Metric Baseline Score Current Score
answer_accuracy 0.76911724 0.77209289 (+0.00297566)
groundedness 0.89638633 0.91188062 (+0.01549429)
mean_answer_similarity 0.79967079 0.81042174 (+0.01075096)
mean_reciprocal_rank 1.00000000 1.00000000
min_answer_similarity 0.76911724 0.77209289 (+0.00297566)
model_failures 1.00000000 1.00000000
model_generation_failures 1.00000000 1.00000000
model_parse_failures 0.00000000 0.00000000
model_passes 0.00000000 0.00000000
model_retrieval_failures 0.00000000 0.00000000
precision_relevancy 0.87204780 0.87785634 (+0.00580855)
recall_relevancy 0.90253651 0.90253651
rouge_1 0.03389831 0.02684564 (-0.00705267)
rouge_2 0.02564103 0.02027027 (-0.00537076)
rouge_l 0.03389831 0.02684564 (-0.00705267)

Legend:

  • Metric : The evaluation metric name. Shown in bold red if the metric flipped between pass/fail status.
  • Baseline Score : The metric value for the baseline model. Shown in bold green if baseline won, red if lost.
  • Current Score : The metric value for the current model, followed by the delta from baseline in parentheses.
  • Delta Colors : Green = improvement, Orange = regression, Red = metric flipped to fail.
  • Winner Determination : For each metric, the winner is determined by comparing scores while considering the metric's directionality (higher is better vs. lower is better).
Baseline Result Current Result
Model claude-3-7-sonnet-20250219@h2ogpte claude-3-7-sonnet-20250219@h2ogpte
Question Can the bank provisionally credit the account for the amount thought to be in error?
Expected answer Yes, within 10 business days
Actual Answer According to the document, the bank can provisionally credit your account for the amount you think is in error during an investigation of a disputed transaction. On page 55, it states that if the bank needs more time to investigate your complaint or question (which may take up to 45 days), "we will credit your account within 10 business days for the amount you think is in error, so that you will have the use of the money during the time it takes us to complete our investigation." Similarly, on page 53, the document mentions that in cases where the bank may take up to 45 days to investigate complaints, "we will provisionally credit your Account upon your indemnifying us within 10 business days for the amount you think is in error, so that you may have the use of the money during the time it takes us to complete our investigation." However, there are some conditions: 1. If the bank asks you to put your complaint in writing and does not receive it within 10 business days, they may not credit your account. 2. For new accounts, point-of-sale, or foreign-initiated transactions, the bank may take up to 20 business days to credit your account for the disputed amount. The provisional credit allows you to use the disputed funds while the bank completes its investigation of the error. According to the document, the bank can provisionally credit your account for the amount you think is in error during an investigation of a disputed transaction. This is specifically mentioned in several sections of the document: On page 53, it states: "We shall tell you the results of our preliminary investigation within 10 business days after we hear from you and will correct any error promptly. Sometimes we may take up to 45 days to investigate certain complaints or questions. In such cases, we will provisionally credit your Account upon your indemnifying us within 10 business days for the amount you think is in error, so that you may have the use of the money during the time it takes us to complete our investigation." Similarly, on page 55, the document mentions: "If we need more time, however, we may take up to 45 days to investigate your complaint or question. If we decide to do this, we will credit your account within 10 business days for the amount you think is in error, so that you will have the use of the money during the time it takes us to complete our investigation." The document also notes that for new accounts, the bank "may take up to 20 business days to credit your account for the amount you think is in error" during their investigation period, which can extend up to 90 days for "errors involving new accounts, point-of-sale, or foreign-initiated transactions." However, the provisional credit may not be issued if you fail to put your complaint in writing when requested: "If we ask you to put your complaint or question in writing and we do not receive it within 10 business days, we may not credit your account."
Retrieved Context
State Bank of India New York Customer Manual for Deposits 53 c) If you tell us about the error orally, in person or by telephone, we require that you send us your complaint or question in writing within ten business days. d) We shall tell you the results of our preliminary investigation within 10 business days after we hear from you and will correct any error promptly. Sometimes we may take up to 45 days to investigate certain complaints or questions. In such cases, we will provisionally credit your Account upon your indemnifying us within 10 business days for the amount you think is in error, so that you may have the use of the money during the time it takes us to complete our investigation. If we ask you to put your complaint or question in writing and we do not receive it within 10 business days, we may not credit your Account. e) For errors involving new Accounts, point-of-sale, or foreign-initiated transactions, we may take up to 90 days to investigate your complaint or question. For new Accounts we may take up to 20 business days to credit your Account for the amount you think is in error. If we decide there was no error, we will send you a written explanation within three business days after we finish our investigation. You may ask for copies of the documents that we used in our investigation. 13. Anti-Money Laundering: The Bank, to the extent required by federal law under the USA PATRIOT Act and others, may keep records or make reports of high-dollar Transactions, suspicious activity, or foreign currency Transactions, as necessary to comply with the law and to detect and prevent illegal activity. There are serious civil and criminal consequences to engaging in illegal financial transactions. 14. Limitation of Bank’s Liability: The Bank shall not be liable to the Card Holder or to any third party, for any loss or damage suffered due to the following reasons: a) Any action carried out by the Bank, in good faith, based upon the instructions of the Card Holder, exercising due diligence and reasonable care; b) Any unauthorized and illegal Transactions occurring through the use of Bank Account(s), which can be attributed to the fraudulent or negligent conduct of the Card Holder, to the extent permitted by law; c) Any ATM or Merchant Establishment refusal to honor the Card, for whatever reason; d) Intrusion or hacking into the computer system/network or communication network of the Bank, to the extent permitted by law; e) Failure to carry out any instructions of the Card Holder due to insufficiency of balance in the Card Holder’s Account(s) or if the card Holder’s funds are subject to legal process or other restriction; f) Failure of the Card Holder to access the Account due to any Force Majeure Event, Technical Problems, or any other reason beyond the control of the Bank; g) Failure of the Card Holder to keep confidential and secure, PIN or any passwords, keywords or other identification marks given to the Card Holder for operating of the Account and/or Card; h) Failure of the Card Holder to inform the Bank regarding any changes in the Card Holder’s personal information; i) Breach of any of the other terms and conditions stated herein or in the Customer Manual by the Card Holder; j) Non-debiting of Transaction amount instantly through ATM or Merchant Transactions;
State Bank of India New York Customer Manual for Deposits 55 (1) Tell us your name and account number (if any). (2) Describe the error or the transfer you are unsure about and explain as clearly as you can why you believe it is an error or why you need more information. (3) Tell us the dollar amount of the suspected error. If you inform us orally, we require that you send us your complaint or question in writing within 10 business days. We will determine whether an error occurred within 10 business days after we hear from you and will correct any error promptly. If we need more time, however, we may take up to 45 days to investigate your complaint or question. If we decide to do this, we will credit your account within 10 business days for the amount you think is in error, so that you will have the use of the money during the time it takes us to complete our investigation. If we ask you to put your complaint or question in writing and we do not receive it within 10 business days, we may not credit your account. For errors involving new accounts, point-of-sale, or foreign-initiated transactions, we may take up to 90 days to investigate your complaint or question. For new accounts, we may take up to 20 business days to credit your account for the amount you think is in error. We will tell you the results within three business days after completing our investigation. If we decide that there was no error, we will send you a written explanation. You may ask for copies of the documents that we used in our investigation. (b) Error resolution notice on periodic statements. In Case of Errors or Questions About Your Electronic Transfers telephone or write to us at the following address: State Bank of India Deposit Section 460 Park Avenue, New York, N.Y 10022 Tel: (212)521-3342/3318 as soon as you can, if you think your statement or receipt is wrong or if you need more information about a transfer on the statement or receipt. We must hear from you no later than 60 days after we sent you the FIRST statement on which the error or problem appeared. (1) Tell us your name and account number (if any). (2) Describe the error or the transfer you are unsure about and explain as clearly as you can why you believe it is an error or why you need more information. (3) Tell us the dollar amount of the suspected error. We will investigate your complaint and will correct any error promptly. If we take more than 10 business days to do this, we will credit your account for the amount you think is in error, so that you will have the use of the money during the time it takes us to complete our investigation. 10. Business Days: The Bank’s business days are Monday through Friday, 9:00 a.m. to 4:00 p.m ET (cash services available up to 3:00 pm ET only) not including bank legal holidays. 11.Disclosure of Account Information to Third Parties: We will disclose information to third parties about your account or the transfers you make: (i) Where it is necessary for completing transfers, or (ii) In order to verify the existence and condition of your account for a third party, such as a credit bureau or merchant, or (iii) In order to comply with government agency or court orders, or (iv) as described in our privacy policy included in this agreement.
k. Account Discrepancies: You must examine your statement of account and paid checks promptly and notify the Bank within 14 days, from the date of receipt of statement, of any discrepancies. If the discrepancy concerns an electronic funds transfer (e.g., Social Security credits, debit card or ACH transactions), then this notification should be made within 60 days of the Bank’s transmittal of the statement. If we do not hear from you within this period, we will assume that the statement is correct. Failure to examine your monthly statement and not reporting discrepancies to the Bank may also adversely affect your legal rights. For example, if you fail to notify us promptly on a forged check, you may lose your right to be reimbursed for a similar forgery, should one occur later. The Bank shall have the right to debit your accounts to recover any funds erroneously credited and to make good any shortfall from any other account you may have with us. Your accounts could be debited for any improper Government payments received by the Bank. If there is still a shortfall, you agree to repay us the amount owing. Interest paid on the erroneous credit will also be recovered. Further the Bank shall have right to recover funds from you if your account does not have sufficient funds to honor a pre-approved transaction done at a Merchant Establishment using your debit card or on account of other such transactions done using your debit card. Any two occurrences of your account having in-sufficient funds to cover a pre-approved/ authorized debit card transaction will lead to closure of your account and cancellation of the linked debit card facility. For account discrepancies you may call us at (212) 521-3283/ 3318 / 3286.
Lost or Stolen Card: If the Card is lost or stolen or someone has transferred funds from Card Holder’s Account without his/ her permission, the Card Holder must report the loss to the STAR Network immediately by calling the 24-hour toll-free number shown below or other numbers that may be numbers provided herein. If the Card Holder notifies the Bank within 2 business days of the loss or theft of the Card, the Card Holder’s loss due to unauthorized use of the Card is limited to $50. If the Card Holder does not notify the Bank within 2 business days of the loss or theft of the Card, and the Bank can prove that earlier notification could have prevented the use of the Card, the Card Holder’s liability for the loss could be as much as $500. If the theft is reported after 60 calendar days of the showing of fraud, the card holder may be liable for all unauthorized charges. If you believe that there has been un-authorized transaction(s) using your debit card, please contact us immediately. A Lost or Stolen Card may be reported by contacting: 1-800-523-4175. This toll-free number is available 24-hours a day. 12. Error Resolution: Disputes of ATM or Merchant Establishment Transactions appearing on the Card Holder’s Periodic Statement are subject to the Error Resolution Procedure as mentioned herein. Your rights to a refund or returned merchandise are generally the same as if you had paid by cash or check, and generally must be resolved with the merchant. a) You will get a monthly statement of your Checking/Money Market Account. If you think your statement or receipt is wrong or if you need more information about a transaction listed on the statement, or if you feel that there are other errors or if you have questions about your debit card transactions, please telephone or write to us at the following address: State Bank of India Deposit Section 460 Park Avenue, New York, N.Y 10022 Tel: (212)521-3200/3342 b) For error resolution, we must hear from you no later than 60 days after we sent the first statement on which the problem or error appeared. When writing to us about the error: • Tell us your name and Account number. • Describe the error or the transfer you are unsure about and explain as clearly as you can why you believe it is an error or why you need more information. • Tell us the dollar amount of the error.
State Bank of India New York Customer Manual for Deposits 56 and other applicable laws, may keep records or make reports of high-dollar transactions, suspicious activities, or foreign currency transactions, as necessary to comply with the law and to detect and prevent illegal activity. There are serious civil and criminal consequences to engaging in illegal financial transactions. 13. Limitation of Bank’s Liability: If we do not complete a transfer to or from your account on time or in the correct amount according to our agreement with you, we will be liable for your losses or damages as further described herein. However, there are some exceptions. We will not be liable, for instance: (1) If, through no fault of ours, you do not have enough money in your account to make the transfer. (2) If the transfer would go over the credit limit on your overdraft line. (3) If the automated teller machine where you are making the transfer does not have enough cash. (4) If the system was not working properly and you knew about the breakdown when you started the transfer. (5) If circumstances beyond our control (such as fire or flood) prevent the transfer, despite reasonable precautions that we have taken.
b) The Bank shall be entitled to terminate the Card with immediate effect without notice and the Card shall be returned upon the occurrence of any of the following events: • Card Holder’s failure to comply with the terms and conditions herein. • The Card Holder’s default under an agreement or commitment entered into with the Bank. • The Card Holder becomes the subject of any bankruptcy, insolvency proceedings or proceedings of the similar nature. • Demise of the Cardholder. • Failure to maintain minimum required balance to cover transactions. s. Error Resolution: Disputes of ATM or Merchant Establishment Transactions appearing on the Card Holder’s Periodic Statement are subject to the Error Resolution Procedure as mentioned herein. Your rights to a refund or returned merchandise are generally the same as if you had paid by cash or check, and generally must be resolved with the merchant. You will get a monthly statement of your Checking/Money Market account, if the account is not inactive or dormant, which will contain the details of your Debit Card transactions. If you think your statement or receipt is wrong or if you need more information about a transaction listed on the statement, or if you feel that there are other errors or if you have questions about your debit card transactions, please follow the procedures listed here: a) Initial and annual error resolution In Case of Errors or Questions About Your Electronic Transfers telephone or write to us at the following address: State Bank of India Deposit Section 460 Park Avenue, New York, N.Y 10022 Tel: (212)521-3342/3318 as soon as you can, if you think your statement or receipt is wrong or if you need more information about a transfer listed on the statement or receipt. We must hear from you no later than 60 days after we sent the FIRST statement on which the problem or error appeared.
State Bank of India New York Customer Manual for Deposits 24 IMPORTANT INFORMATION ABOUT SUBSTITUTE CHECKS AND YOUR RIGHTS What is a substitute check? To make check processing faster, federal law permits banks to replace original checks with "substitute checks." These checks are similar to original checks with a slightly reduced image of the front and back of the original check. The front of a substitute check states: "This is a legal copy of your check. You can use it the same way you would use the original check." You may use a substitute check as proof of payment just like the original check. Some or all of the checks that you receive back from us may be substitute checks. This notice describes rights you have when you receive substitute checks from us. The rights in this notice do not apply to original checks or to electronic debits to your account. However, you have rights under other law with respect to those transactions. What are your rights regarding substitute check? In certain cases, federal law provides a special procedure that allows you to request a refund for losses you suffer if a substitute check is posted to your account (for example, if you think that we withdrew the wrong amount from your account or that we withdrew money from your account more than once for the same check). The losses you may attempt to recover under this procedure may include the amount that was withdrawn from your account and fees that were charged as a result of the withdrawal (for example, bounced check fees). The amount of your refund under this procedure is limited to the amount of your loss or the amount of the substitute check, whichever is less. You also are entitled to interest on the amount of your refund if your account is an interest-bearing account. If your loss exceeds the amount of the substitute check, you may be able to recover additional amounts under other law. If you use this procedure, you may receive up to $2,500 of your refund (plus interest if your account earns interest) within 10 business days after we received your claim and the remainder of your refund (plus interest if your account earns interest) not later than 45 calendar days after we received your claim. We may reverse the refund (including any interest on the refund) if we later are able to demonstrate that the substitute check was correctly posted to your account. How can you make a claim for a refund? If you believe that you have suffered a loss relating to a substitute check that you received and that was posted to your account, please contact us by phone at (212)521-3286/3318 or by postal mail at our mailing address. You must contact us within 40 calendar days of the date that we mailed (or otherwise delivered by a means to which you agreed) the substitute check in question or the account statement showing that the substitute check was posted to your account, whichever is later. We may extend this time period if you were not able to make a timely claim because of extraordinary circumstances. Your claim must be made in writing on the prescribed form, be signed by you and include: A description of why you have suffered a loss (e.g. you think the amount withdrawn was incorrect); An estimate of the amount of your loss;
State Bank of India New York Customer Manual for Deposits 51 allow the Card Holder to cancel a hold within MasterCard limits for Transactions that were authorized by the Card Holder. If, however, the Card Holder suspects that a Transaction was fraudulent or otherwise unauthorized, the Card Holder should contact the Merchant and the Bank for possible ways to chargeback the debit. Please see the Error Resolution Procedures in subsequent paras for more information. 10. Cancellation of pre-authorized Transactions scheduled at regular intervals: While a Card Holder is generally not permitted to cancel Debit Card Transactions and holds, the cardholder is permitted to cancel, or place a stop payment, on a pre-authorized transaction scheduled to occur at regular intervals, such as a monthly utility payment or loan installment. Before requesting the Bank for stopping a recurring payment, the cardholder should take up with the merchant/ beneficiary for cancelling/ stopping such payment. The Bank may require details of such request made to the merchant/ beneficiary for acting upon Card Holder’s request. The Card Holder must give the Bank written instructions to cancel or stop such a payment at least three (3) days prior to the scheduled debit. The stop payment instruction should be accompanied with a letter of indemnity signed by the Account holder/ Card Holder. The stop order takes effect when it is recorded on your Account. In case of a pre-authorized recurring transaction, we will need the amount, the scheduled date of debit, name of the beneficiary. In the absence of complete and correct particulars, the stop order would be ineffective. If we fail to stop a payment and if you have requested us well in time and with all the particulars as detailed above, we will be liable for your losses or damages. An oral order is binding upon the Bank only for fourteen days unless confirmed in writing within that period. A written order is effective for only six months unless renewed/cancelled in writing. You may inquire about the status of a pre-authorized transaction by calling us on 212-521-3342 on a business day and during the business hours. A fee of USD 10.00 will be charged for each stop payment request made.
State Bank of India New York Customer Manual for Deposits 37 purchase, but in some instances, they may be for a different amount as MasterCard’s rules permit "authorization" holds based upon an estimated amount of the transaction, and, in some instances, may include additional amounts authorized under MasterCard’s rules. The Card Holder agrees that such a “hold” may be placed on his account/accounts in the amount authorized. These authorization holds can affect the Card Holder’s available balance for other transactions. The amount of your available balance will be decreased by the amount of the “hold‟ for as long as the “hold‟ is in effect. This means that funds on “hold‟ will not be available for withdrawal, transfer or payment. In each instance, the Card Holder is responsible to the Bank for the amount that the Bank settles based upon either the placed-hold limits or the final amount presented and settled. The Card Holder will remain responsible to the Bank for settlement of all pre-authorized transactions even if such transactions come after the hold is removed. This is another reason that the Card Holder should take care to keep an accurate register and monitor the Account’s balance for pending transactions and cleared transaction to ensure that sufficient funds are in the Account at all times. k. Overdraft on Account of Pre-authorized Transactions: Please note that while the Bank does not provide any overdraft facility on your debit card transactions, the Bank shall have right to recover funds from you if your account gets over-drawn because the Bank has settled a preauthorized transaction done at a Merchant Establishment using your debit card or on account of other such transactions done using your debit card. You agree that you will remain responsible to the Bank for the amount by which your account is overdrawn. Any two occurrences of your account having non- sufficient funds to cover a pre-approved/ authorized debit card transaction will lead to closure of your account and cancellation of the linked debit card facility. l. Cancellation of Merchant debit-card authorizations: Generally, the Bank is not permitted to allow the Card Holder to cancel a hold within MasterCard limits for Transactions that were authorized by the Card Holder. If, however, the Card Holder suspects that a Transaction was fraudulent or otherwise unauthorized, the Card Holder should contact the Merchant and the Bank for possible ways to chargeback the debit. Please see the Error Resolution Procedures in subsequent paragraphs for more information. m. Notice Regarding Money Market Deposit Accounts: If the Account is a Money Market Deposit Account, certain limitations on transactions apply. A maximum of 6 transfers or withdrawals, or a combination of such transfers or withdrawals, are permitted during a calendar month or statement cycle of at least four weeks, including transfers or withdrawal by check, ACH to third parties, and/or Debit Card transactions with Merchant Establishments. However, any number of the following transactions using the Debit Card at an ATM are permitted: transfers of funds between your own Accounts held with the Bank and balance inquiries. n. International Transactions: Additionally, Card Holders may use the Card at ATMs and Merchant Establishments in U.S. and India. Any transaction done in INR will be converted to U.S. dollars. The exchange rate is established by MasterCard and not the Bank. The use of the Card may also be restricted with respect to certain foreign countries as required by U.S. laws and regulations. Any offer or option for exchange rate given by any ATM machine is no way related to SBI NY Branch and they are offered by local ATM service provider. Your account will be debited based upon the option selected by you.
State Bank of India New York Customer Manual for Deposits 30 offices are collectively referred to as SBI-US in this Notice. What we do How does SBI–US protect my personal information? To protect your personal information from unauthorized access and use, we use security measures that comply with federal law. SBI-US has established physical, technological and procedural systems and controls for protecting the confidentiality of your personal information. SBI-US employees undergo training on protecting customer information. How does SBI–US collect my personal information? We collect your personal information, for example, when you Open an account or deposit money Pay your bills or apply for a loan Use your credit or debit card We also collect your personal information from credit bureaus. Why can't I limit all sharing? Federal law gives you the right to limit only Sharing for affiliates’ everyday business purposes- information about your creditworthiness Affiliates from using your information to market to you Sharing for non-affiliates to market to you State laws and individual companies may give you additional rights to limit sharing. See below for more on your rights under state law.
State Bank of India New York Customer Manual for Deposits 53 c) If you tell us about the error orally, in person or by telephone, we require that you send us your complaint or question in writing within ten business days. d) We shall tell you the results of our preliminary investigation within 10 business days after we hear from you and will correct any error promptly. Sometimes we may take up to 45 days to investigate certain complaints or questions. In such cases, we will provisionally credit your Account upon your indemnifying us within 10 business days for the amount you think is in error, so that you may have the use of the money during the time it takes us to complete our investigation. If we ask you to put your complaint or question in writing and we do not receive it within 10 business days, we may not credit your Account. e) For errors involving new Accounts, point-of-sale, or foreign-initiated transactions, we may take up to 90 days to investigate your complaint or question. For new Accounts we may take up to 20 business days to credit your Account for the amount you think is in error. If we decide there was no error, we will send you a written explanation within three business days after we finish our investigation. You may ask for copies of the documents that we used in our investigation. 13. Anti-Money Laundering: The Bank, to the extent required by federal law under the USA PATRIOT Act and others, may keep records or make reports of high-dollar Transactions, suspicious activity, or foreign currency Transactions, as necessary to comply with the law and to detect and prevent illegal activity. There are serious civil and criminal consequences to engaging in illegal financial transactions. 14. Limitation of Bank’s Liability: The Bank shall not be liable to the Card Holder or to any third party, for any loss or damage suffered due to the following reasons: a) Any action carried out by the Bank, in good faith, based upon the instructions of the Card Holder, exercising due diligence and reasonable care; b) Any unauthorized and illegal Transactions occurring through the use of Bank Account(s), which can be attributed to the fraudulent or negligent conduct of the Card Holder, to the extent permitted by law; c) Any ATM or Merchant Establishment refusal to honor the Card, for whatever reason; d) Intrusion or hacking into the computer system/network or communication network of the Bank, to the extent permitted by law; e) Failure to carry out any instructions of the Card Holder due to insufficiency of balance in the Card Holder’s Account(s) or if the card Holder’s funds are subject to legal process or other restriction; f) Failure of the Card Holder to access the Account due to any Force Majeure Event, Technical Problems, or any other reason beyond the control of the Bank; g) Failure of the Card Holder to keep confidential and secure, PIN or any passwords, keywords or other identification marks given to the Card Holder for operating of the Account and/or Card; h) Failure of the Card Holder to inform the Bank regarding any changes in the Card Holder’s personal information; i) Breach of any of the other terms and conditions stated herein or in the Customer Manual by the Card Holder; j) Non-debiting of Transaction amount instantly through ATM or Merchant Transactions;
k. Account Discrepancies: You must examine your statement of account and paid checks promptly and notify the Bank within 14 days, from the date of receipt of statement, of any discrepancies. If the discrepancy concerns an electronic funds transfer (e.g., Social Security credits, debit card or ACH transactions), then this notification should be made within 60 days of the Bank’s transmittal of the statement. If we do not hear from you within this period, we will assume that the statement is correct. Failure to examine your monthly statement and not reporting discrepancies to the Bank may also adversely affect your legal rights. For example, if you fail to notify us promptly on a forged check, you may lose your right to be reimbursed for a similar forgery, should one occur later. The Bank shall have the right to debit your accounts to recover any funds erroneously credited and to make good any shortfall from any other account you may have with us. Your accounts could be debited for any improper Government payments received by the Bank. If there is still a shortfall, you agree to repay us the amount owing. Interest paid on the erroneous credit will also be recovered. Further the Bank shall have right to recover funds from you if your account does not have sufficient funds to honor a pre-approved transaction done at a Merchant Establishment using your debit card or on account of other such transactions done using your debit card. Any two occurrences of your account having in-sufficient funds to cover a pre-approved/ authorized debit card transaction will lead to closure of your account and cancellation of the linked debit card facility. For account discrepancies you may call us at (212) 521-3283/ 3318 / 3286.
Change of Address, e-mail address, telephone number and account details: Bank may ask you to update your account information through remediation form as and when there is any material change, or whenever bank requires. If this information is not provided within a reasonable time (30 days), the Bank may decide to decline further transactions in the account and may also close the account if not received the same in subsequent 60 days. If your signed request for email/phone number change is received through modes other than online banking and over the counter, there will be a 30- day debit restriction on your account. 26 Inactive Accounts / Dormant Account Incomplete requests, requests received without requisite documents will not be accepted for activation. Inactive Accounts / Dormant Accounts Incomplete requests, requests received without requisite documents will not be accepted for activation. During the update of your information and activation process, bank will process a one cent entry (debit/credit transaction) in your account.
State Bank of India New York Customer Manual for Deposits 55 (1) Tell us your name and account number (if any). (2) Describe the error or the transfer you are unsure about and explain as clearly as you can why you believe it is an error or why you need more information. (3) Tell us the dollar amount of the suspected error. If you inform us orally, we require that you send us your complaint or question in writing within 10 business days. We will determine whether an error occurred within 10 business days after we hear from you and will correct any error promptly. If we need more time, however, we may take up to 45 days to investigate your complaint or question. If we decide to do this, we will credit your account within 10 business days for the amount you think is in error, so that you will have the use of the money during the time it takes us to complete our investigation. If we ask you to put your complaint or question in writing and we do not receive it within 10 business days, we may not credit your account. For errors involving new accounts, point-of-sale, or foreign-initiated transactions, we may take up to 90 days to investigate your complaint or question. For new accounts, we may take up to 20 business days to credit your account for the amount you think is in error. We will tell you the results within three business days after completing our investigation. If we decide that there was no error, we will send you a written explanation. You may ask for copies of the documents that we used in our investigation. (b) Error resolution notice on periodic statements. In Case of Errors or Questions About Your Electronic Transfers telephone or write to us at the following address: State Bank of India Deposit Section 460 Park Avenue, New York, N.Y 10022 Tel: (212)521-3342/3318 as soon as you can, if you think your statement or receipt is wrong or if you need more information about a transfer on the statement or receipt. We must hear from you no later than 60 days after we sent you the FIRST statement on which the error or problem appeared. (1) Tell us your name and account number (if any). (2) Describe the error or the transfer you are unsure about and explain as clearly as you can why you believe it is an error or why you need more information. (3) Tell us the dollar amount of the suspected error. We will investigate your complaint and will correct any error promptly. If we take more than 10 business days to do this, we will credit your account for the amount you think is in error, so that you will have the use of the money during the time it takes us to complete our investigation. 10. Business Days: The Bank’s business days are Monday through Friday, 9:00 a.m. to 4:00 p.m ET (cash services available up to 3:00 pm ET only) not including bank legal holidays. 11.Disclosure of Account Information to Third Parties: We will disclose information to third parties about your account or the transfers you make: (i) Where it is necessary for completing transfers, or (ii) In order to verify the existence and condition of your account for a third party, such as a credit bureau or merchant, or (iii) In order to comply with government agency or court orders, or (iv) as described in our privacy policy included in this agreement.
Lost or Stolen Card: If the Card is lost or stolen or someone has transferred funds from Card Holder’s Account without his/ her permission, the Card Holder must report the loss to the STAR Network immediately by calling the 24-hour toll-free number shown below or other numbers that may be numbers provided herein. If the Card Holder notifies the Bank within 2 business days of the loss or theft of the Card, the Card Holder’s loss due to unauthorized use of the Card is limited to $50. If the Card Holder does not notify the Bank within 2 business days of the loss or theft of the Card, and the Bank can prove that earlier notification could have prevented the use of the Card, the Card Holder’s liability for the loss could be as much as $500. If the theft is reported after 60 calendar days of the showing of fraud, the card holder may be liable for all unauthorized charges. If you believe that there has been un-authorized transaction(s) using your debit card, please contact us immediately. A Lost or Stolen Card may be reported by contacting: 1-800-523-4175. This toll-free number is available 24-hours a day. 12. Error Resolution: Disputes of ATM or Merchant Establishment Transactions appearing on the Card Holder’s Periodic Statement are subject to the Error Resolution Procedure as mentioned herein. Your rights to a refund or returned merchandise are generally the same as if you had paid by cash or check, and generally must be resolved with the merchant. a) You will get a monthly statement of your Checking/Money Market Account. If you think your statement or receipt is wrong or if you need more information about a transaction listed on the statement, or if you feel that there are other errors or if you have questions about your debit card transactions, please telephone or write to us at the following address: State Bank of India Deposit Section 460 Park Avenue, New York, N.Y 10022 Tel: (212)521-3200/3342 b) For error resolution, we must hear from you no later than 60 days after we sent the first statement on which the problem or error appeared. When writing to us about the error: • Tell us your name and Account number. • Describe the error or the transfer you are unsure about and explain as clearly as you can why you believe it is an error or why you need more information. • Tell us the dollar amount of the error.
b) The Bank shall be entitled to terminate the Card with immediate effect without notice and the Card shall be returned upon the occurrence of any of the following events: • Card Holder’s failure to comply with the terms and conditions herein. • The Card Holder’s default under an agreement or commitment entered into with the Bank. • The Card Holder becomes the subject of any bankruptcy, insolvency proceedings or proceedings of the similar nature. • Demise of the Cardholder. • Failure to maintain minimum required balance to cover transactions. s. Error Resolution: Disputes of ATM or Merchant Establishment Transactions appearing on the Card Holder’s Periodic Statement are subject to the Error Resolution Procedure as mentioned herein. Your rights to a refund or returned merchandise are generally the same as if you had paid by cash or check, and generally must be resolved with the merchant. You will get a monthly statement of your Checking/Money Market account, if the account is not inactive or dormant, which will contain the details of your Debit Card transactions. If you think your statement or receipt is wrong or if you need more information about a transaction listed on the statement, or if you feel that there are other errors or if you have questions about your debit card transactions, please follow the procedures listed here: a) Initial and annual error resolution In Case of Errors or Questions About Your Electronic Transfers telephone or write to us at the following address: State Bank of India Deposit Section 460 Park Avenue, New York, N.Y 10022 Tel: (212)521-3342/3318 as soon as you can, if you think your statement or receipt is wrong or if you need more information about a transfer listed on the statement or receipt. We must hear from you no later than 60 days after we sent the FIRST statement on which the problem or error appeared.
State Bank of India New York Customer Manual for Deposits 56 and other applicable laws, may keep records or make reports of high-dollar transactions, suspicious activities, or foreign currency transactions, as necessary to comply with the law and to detect and prevent illegal activity. There are serious civil and criminal consequences to engaging in illegal financial transactions. 13. Limitation of Bank’s Liability: If we do not complete a transfer to or from your account on time or in the correct amount according to our agreement with you, we will be liable for your losses or damages as further described herein. However, there are some exceptions. We will not be liable, for instance: (1) If, through no fault of ours, you do not have enough money in your account to make the transfer. (2) If the transfer would go over the credit limit on your overdraft line. (3) If the automated teller machine where you are making the transfer does not have enough cash. (4) If the system was not working properly and you knew about the breakdown when you started the transfer. (5) If circumstances beyond our control (such as fire or flood) prevent the transfer, despite reasonable precautions that we have taken.
State Bank of India New York Customer Manual for Deposits 24 IMPORTANT INFORMATION ABOUT SUBSTITUTE CHECKS AND YOUR RIGHTS What is a substitute check? To make check processing faster, federal law permits banks to replace original checks with "substitute checks." These checks are similar to original checks with a slightly reduced image of the front and back of the original check. The front of a substitute check states: "This is a legal copy of your check. You can use it the same way you would use the original check." You may use a substitute check as proof of payment just like the original check. Some or all of the checks that you receive back from us may be substitute checks. This notice describes rights you have when you receive substitute checks from us. The rights in this notice do not apply to original checks or to electronic debits to your account. However, you have rights under other law with respect to those transactions. What are your rights regarding substitute check? In certain cases, federal law provides a special procedure that allows you to request a refund for losses you suffer if a substitute check is posted to your account (for example, if you think that we withdrew the wrong amount from your account or that we withdrew money from your account more than once for the same check). The losses you may attempt to recover under this procedure may include the amount that was withdrawn from your account and fees that were charged as a result of the withdrawal (for example, bounced check fees). The amount of your refund under this procedure is limited to the amount of your loss or the amount of the substitute check, whichever is less. You also are entitled to interest on the amount of your refund if your account is an interest-bearing account. If your loss exceeds the amount of the substitute check, you may be able to recover additional amounts under other law. If you use this procedure, you may receive up to $2,500 of your refund (plus interest if your account earns interest) within 10 business days after we received your claim and the remainder of your refund (plus interest if your account earns interest) not later than 45 calendar days after we received your claim. We may reverse the refund (including any interest on the refund) if we later are able to demonstrate that the substitute check was correctly posted to your account. How can you make a claim for a refund? If you believe that you have suffered a loss relating to a substitute check that you received and that was posted to your account, please contact us by phone at (212)521-3286/3318 or by postal mail at our mailing address. You must contact us within 40 calendar days of the date that we mailed (or otherwise delivered by a means to which you agreed) the substitute check in question or the account statement showing that the substitute check was posted to your account, whichever is later. We may extend this time period if you were not able to make a timely claim because of extraordinary circumstances. Your claim must be made in writing on the prescribed form, be signed by you and include: A description of why you have suffered a loss (e.g. you think the amount withdrawn was incorrect); An estimate of the amount of your loss;
State Bank of India New York Customer Manual for Deposits 51 allow the Card Holder to cancel a hold within MasterCard limits for Transactions that were authorized by the Card Holder. If, however, the Card Holder suspects that a Transaction was fraudulent or otherwise unauthorized, the Card Holder should contact the Merchant and the Bank for possible ways to chargeback the debit. Please see the Error Resolution Procedures in subsequent paras for more information. 10. Cancellation of pre-authorized Transactions scheduled at regular intervals: While a Card Holder is generally not permitted to cancel Debit Card Transactions and holds, the cardholder is permitted to cancel, or place a stop payment, on a pre-authorized transaction scheduled to occur at regular intervals, such as a monthly utility payment or loan installment. Before requesting the Bank for stopping a recurring payment, the cardholder should take up with the merchant/ beneficiary for cancelling/ stopping such payment. The Bank may require details of such request made to the merchant/ beneficiary for acting upon Card Holder’s request. The Card Holder must give the Bank written instructions to cancel or stop such a payment at least three (3) days prior to the scheduled debit. The stop payment instruction should be accompanied with a letter of indemnity signed by the Account holder/ Card Holder. The stop order takes effect when it is recorded on your Account. In case of a pre-authorized recurring transaction, we will need the amount, the scheduled date of debit, name of the beneficiary. In the absence of complete and correct particulars, the stop order would be ineffective. If we fail to stop a payment and if you have requested us well in time and with all the particulars as detailed above, we will be liable for your losses or damages. An oral order is binding upon the Bank only for fourteen days unless confirmed in writing within that period. A written order is effective for only six months unless renewed/cancelled in writing. You may inquire about the status of a pre-authorized transaction by calling us on 212-521-3342 on a business day and during the business hours. A fee of USD 10.00 will be charged for each stop payment request made.
 If a problem with the Bank’s equipment prevents it from knowing your account balance.

Test Case

Question: What is the phone number to contact the bank for account discrepancies?

Metric Baseline Score Current Score
answer_accuracy 0.77116003 0.77656243 (+0.00540240)
groundedness 0.94862652 0.95099878 (+0.00237226)
mean_answer_similarity 0.82354564 0.82352732 (-0.00001832)
mean_reciprocal_rank 1.00000000 1.00000000
min_answer_similarity 0.77116003 0.77656243 (+0.00540240)
model_failures 0.00000000 0.00000000
model_generation_failures 0.00000000 0.00000000
model_parse_failures 0.00000000 0.00000000
model_passes 1.00000000 1.00000000
model_retrieval_failures 0.00000000 0.00000000
precision_relevancy 0.87815510 0.87673626 (-0.00141884)
recall_relevancy 0.94895739 0.94895739
rouge_1 0.08771930 0.08547009 (-0.00224921)
rouge_2 0.07142857 0.06956522 (-0.00186335)
rouge_l 0.08771930 0.08547009 (-0.00224921)

Legend:

  • Metric : The evaluation metric name. Shown in bold red if the metric flipped between pass/fail status.
  • Baseline Score : The metric value for the baseline model. Shown in bold green if baseline won, red if lost.
  • Current Score : The metric value for the current model, followed by the delta from baseline in parentheses.
  • Delta Colors : Green = improvement, Orange = regression, Red = metric flipped to fail.
  • Winner Determination : For each metric, the winner is determined by comparing scores while considering the metric's directionality (higher is better vs. lower is better).
Baseline Result Current Result
Model claude-3-7-sonnet-20250219@h2ogpte claude-3-7-sonnet-20250219@h2ogpte
Question What is the phone number to contact the bank for account discrepancies?
Expected answer (212) 521-3283/ 3318 / 3286
Actual Answer According to the document, if you have account discrepancies, you can call the bank at (212) 521-3283, 3318, or 3286. This information is found on page 20 of the document, where it states: "For account discrepancies you may call us at (212) 521-3283/ 3318 / 3286." The document also mentions that you must examine your statement of account and paid checks promptly and notify the Bank within 14 days from the date of receipt of statement of any discrepancies. For electronic funds transfers (like Social Security credits, debit card or ACH transactions), you should notify the bank within 60 days of the Bank's transmittal of the statement. According to the document, if you have account discrepancies, you may call the bank at (212) 521-3283/ 3318 / 3286. This information is found on page 20 of the "Customer Manual for Deposits" where it states: "For account discrepancies you may call us at (212) 521-3283/ 3318 / 3286." The manual also mentions that you must examine your statement of account and paid checks promptly and notify the Bank within 14 days from the date of receipt of statement of any discrepancies. For electronic funds transfers (e.g., Social Security credits, debit card or ACH transactions), the notification should be made within 60 days of the Bank's transmittal of the statement.
Retrieved Context
k. Account Discrepancies: You must examine your statement of account and paid checks promptly and notify the Bank within 14 days, from the date of receipt of statement, of any discrepancies. If the discrepancy concerns an electronic funds transfer (e.g., Social Security credits, debit card or ACH transactions), then this notification should be made within 60 days of the Bank’s transmittal of the statement. If we do not hear from you within this period, we will assume that the statement is correct. Failure to examine your monthly statement and not reporting discrepancies to the Bank may also adversely affect your legal rights. For example, if you fail to notify us promptly on a forged check, you may lose your right to be reimbursed for a similar forgery, should one occur later. The Bank shall have the right to debit your accounts to recover any funds erroneously credited and to make good any shortfall from any other account you may have with us. Your accounts could be debited for any improper Government payments received by the Bank. If there is still a shortfall, you agree to repay us the amount owing. Interest paid on the erroneous credit will also be recovered. Further the Bank shall have right to recover funds from you if your account does not have sufficient funds to honor a pre-approved transaction done at a Merchant Establishment using your debit card or on account of other such transactions done using your debit card. Any two occurrences of your account having in-sufficient funds to cover a pre-approved/ authorized debit card transaction will lead to closure of your account and cancellation of the linked debit card facility. For account discrepancies you may call us at (212) 521-3283/ 3318 / 3286.
Lost or Stolen Card: If the Card is lost or stolen or someone has transferred funds from Card Holder’s Account without his/ her permission, the Card Holder must report the loss to the STAR Network immediately by calling the 24-hour toll-free number shown below or other numbers that may be numbers provided herein. If the Card Holder notifies the Bank within 2 business days of the loss or theft of the Card, the Card Holder’s loss due to unauthorized use of the Card is limited to $50. If the Card Holder does not notify the Bank within 2 business days of the loss or theft of the Card, and the Bank can prove that earlier notification could have prevented the use of the Card, the Card Holder’s liability for the loss could be as much as $500. If the theft is reported after 60 calendar days of the showing of fraud, the card holder may be liable for all unauthorized charges. If you believe that there has been un-authorized transaction(s) using your debit card, please contact us immediately. A Lost or Stolen Card may be reported by contacting: 1-800-523-4175. This toll-free number is available 24-hours a day. 12. Error Resolution: Disputes of ATM or Merchant Establishment Transactions appearing on the Card Holder’s Periodic Statement are subject to the Error Resolution Procedure as mentioned herein. Your rights to a refund or returned merchandise are generally the same as if you had paid by cash or check, and generally must be resolved with the merchant. a) You will get a monthly statement of your Checking/Money Market Account. If you think your statement or receipt is wrong or if you need more information about a transaction listed on the statement, or if you feel that there are other errors or if you have questions about your debit card transactions, please telephone or write to us at the following address: State Bank of India Deposit Section 460 Park Avenue, New York, N.Y 10022 Tel: (212)521-3200/3342 b) For error resolution, we must hear from you no later than 60 days after we sent the first statement on which the problem or error appeared. When writing to us about the error: • Tell us your name and Account number. • Describe the error or the transfer you are unsure about and explain as clearly as you can why you believe it is an error or why you need more information. • Tell us the dollar amount of the error.
Contact for Higher Escalation vpeb.nyb@statebank.com vpdep.nyb@statebank.com 212-521-3311 212-521-3310 Trade Finance (i) Letter of Credit mgrlc.nyb@statebank.com 212-521-3275 (ii) Bills mgrbills.nyb@statebank.com 212-521-3273 Contact for Higher Escalation vptrade.nyb@statebank.com 212-521-3260 Credit Department Credit mgrcr1.nyb@statebank.com 212-521-3211 Contact for Escalation vpcr1.nyb@statebank.com 212-521-3262 Intermediary Wire Transfers Correspondent Banking and Intermediary Wire Transfers mgrpnr.nyb@statebank.com 212-521-3333 Contact for Higher Escalation vpicb.nyb@statebank.com 212-521-3329 If your issues are not resolved, you may contact the branch compliance officer : Phone No: 2125213229, Email: brco.nyb@statebank.com Please do not share your non-public information over email. Kindly use secured message service in online banking or send us your requests through mail*. *The mail is the service or system by which letters and packages are collected and delivered. Example: letters delivered through public carriers such as FED Ex, DHL, USPS, UPS etc. Mails received/Check received in mail on any given day will be attended to/processed on next business day only.
Change of Address, e-mail address, telephone number and account details: Bank may ask you to update your account information through remediation form as and when there is any material change, or whenever bank requires. If this information is not provided within a reasonable time (30 days), the Bank may decide to decline further transactions in the account and may also close the account if not received the same in subsequent 60 days. If your signed request for email/phone number change is received through modes other than online banking and over the counter, there will be a 30- day debit restriction on your account. 26 Inactive Accounts / Dormant Account Incomplete requests, requests received without requisite documents will not be accepted for activation. Inactive Accounts / Dormant Accounts Incomplete requests, requests received without requisite documents will not be accepted for activation. During the update of your information and activation process, bank will process a one cent entry (debit/credit transaction) in your account.
State Bank of India New York Customer Manual for Deposits 24 IMPORTANT INFORMATION ABOUT SUBSTITUTE CHECKS AND YOUR RIGHTS What is a substitute check? To make check processing faster, federal law permits banks to replace original checks with "substitute checks." These checks are similar to original checks with a slightly reduced image of the front and back of the original check. The front of a substitute check states: "This is a legal copy of your check. You can use it the same way you would use the original check." You may use a substitute check as proof of payment just like the original check. Some or all of the checks that you receive back from us may be substitute checks. This notice describes rights you have when you receive substitute checks from us. The rights in this notice do not apply to original checks or to electronic debits to your account. However, you have rights under other law with respect to those transactions. What are your rights regarding substitute check? In certain cases, federal law provides a special procedure that allows you to request a refund for losses you suffer if a substitute check is posted to your account (for example, if you think that we withdrew the wrong amount from your account or that we withdrew money from your account more than once for the same check). The losses you may attempt to recover under this procedure may include the amount that was withdrawn from your account and fees that were charged as a result of the withdrawal (for example, bounced check fees). The amount of your refund under this procedure is limited to the amount of your loss or the amount of the substitute check, whichever is less. You also are entitled to interest on the amount of your refund if your account is an interest-bearing account. If your loss exceeds the amount of the substitute check, you may be able to recover additional amounts under other law. If you use this procedure, you may receive up to $2,500 of your refund (plus interest if your account earns interest) within 10 business days after we received your claim and the remainder of your refund (plus interest if your account earns interest) not later than 45 calendar days after we received your claim. We may reverse the refund (including any interest on the refund) if we later are able to demonstrate that the substitute check was correctly posted to your account. How can you make a claim for a refund? If you believe that you have suffered a loss relating to a substitute check that you received and that was posted to your account, please contact us by phone at (212)521-3286/3318 or by postal mail at our mailing address. You must contact us within 40 calendar days of the date that we mailed (or otherwise delivered by a means to which you agreed) the substitute check in question or the account statement showing that the substitute check was posted to your account, whichever is later. We may extend this time period if you were not able to make a timely claim because of extraordinary circumstances. Your claim must be made in writing on the prescribed form, be signed by you and include: A description of why you have suffered a loss (e.g. you think the amount withdrawn was incorrect); An estimate of the amount of your loss;
m. Change of Address, e-mail address, telephone number and account details: Please update us promptly of any change of address, e-mail address, telephone number or account details and include a complete list of all your accounts and account numbers. Please use Customer Information Update Form (CIP Form) available on our website for update of any information and submit the same along with copy of valid Photo ID and Address proof. Bank reserves the right to ask for additional documents on a case to case basis. If you do not inform us of the changes, mailing of account statements may be withheld and the accounts may be blocked for further transactions until we hear from you. Bank may ask you to update your account information through remediation form as and when there is any material change, or whenever bank requires. If this information is not provided within a reasonable time (30 days), the Bank may decide to decline further transactions in the account and may also close the account if not received the same in subsequent 60 days. For proof of the new address, a utility bill, State issued ID with current address, or Letter issued by Government Authority to the current address to give effect to your change of address request may be provided. All requests for Change of Address, e-mail address, telephone number and account details should be submitted along with a copy of valid ID document. Bank may also call you on your registered number for confirming the details given on the request. If your signed request for email/phone number change is received through modes other than online banking and over the counter, there will be a 30 day debit restriction on your account. n. Closing an Account: You may close your Checking /Money Market Deposit Account at any time provided the funds on deposit are not held against uncollected deposited checks or attached by any legal action. A service charge would apply to Checking/Money Market Deposit Accounts closed within three months of opening. If a hold is placed on your account because of a pre-approved merchant transaction done using your debit card, the Bank may not close the account until the transaction is completed or the hold is removed.
State Bank of India New York Customer Manual for Deposits 55 (1) Tell us your name and account number (if any). (2) Describe the error or the transfer you are unsure about and explain as clearly as you can why you believe it is an error or why you need more information. (3) Tell us the dollar amount of the suspected error. If you inform us orally, we require that you send us your complaint or question in writing within 10 business days. We will determine whether an error occurred within 10 business days after we hear from you and will correct any error promptly. If we need more time, however, we may take up to 45 days to investigate your complaint or question. If we decide to do this, we will credit your account within 10 business days for the amount you think is in error, so that you will have the use of the money during the time it takes us to complete our investigation. If we ask you to put your complaint or question in writing and we do not receive it within 10 business days, we may not credit your account. For errors involving new accounts, point-of-sale, or foreign-initiated transactions, we may take up to 90 days to investigate your complaint or question. For new accounts, we may take up to 20 business days to credit your account for the amount you think is in error. We will tell you the results within three business days after completing our investigation. If we decide that there was no error, we will send you a written explanation. You may ask for copies of the documents that we used in our investigation. (b) Error resolution notice on periodic statements. In Case of Errors or Questions About Your Electronic Transfers telephone or write to us at the following address: State Bank of India Deposit Section 460 Park Avenue, New York, N.Y 10022 Tel: (212)521-3342/3318 as soon as you can, if you think your statement or receipt is wrong or if you need more information about a transfer on the statement or receipt. We must hear from you no later than 60 days after we sent you the FIRST statement on which the error or problem appeared. (1) Tell us your name and account number (if any). (2) Describe the error or the transfer you are unsure about and explain as clearly as you can why you believe it is an error or why you need more information. (3) Tell us the dollar amount of the suspected error. We will investigate your complaint and will correct any error promptly. If we take more than 10 business days to do this, we will credit your account for the amount you think is in error, so that you will have the use of the money during the time it takes us to complete our investigation. 10. Business Days: The Bank’s business days are Monday through Friday, 9:00 a.m. to 4:00 p.m ET (cash services available up to 3:00 pm ET only) not including bank legal holidays. 11.Disclosure of Account Information to Third Parties: We will disclose information to third parties about your account or the transfers you make: (i) Where it is necessary for completing transfers, or (ii) In order to verify the existence and condition of your account for a third party, such as a credit bureau or merchant, or (iii) In order to comply with government agency or court orders, or (iv) as described in our privacy policy included in this agreement.
• Principal: The exact sum of money deposited in an account or the amount of money borrowed. • Right of Set-Off: Right to adjust any overdue debt from any other account held singly or jointly with us. • Substitute Check: means a paper reproduction of an original check that contains an image of the front and back of the original check, bears a MICR line, and is suitable for automated processing in the same manner as the original check. 7 Privacy Notice: FACTS WHAT DOES STATE BANK OF INDIA (SBI-US) DO WITH YOUR PERSONAL INFORMATION? Why? Financial companies choose how they share your personal information. Federal law gives consumers the right to limit some but not all sharing. Federal law also requires us to tell you how we collect, share, and protect your personal information. Please read this notice carefully to understand what we do. What? The types of personal information we collect and share depend on the product or service you have with us. This information can include: Social Security number and income Account balances and payment history Assets and debt When you are no longer our customer, we continue to share your information as described in this notice.
State Bank of India New York Customer Manual for Deposits 26 5.2 Inactive Accounts / Dormant Accounts An account in which there has been no transaction for 2 years is considered inactive and an account in which there has been no transaction for 3 years is considered dormant. An account in which there has been no activity or written correspondence from the account holder for three consecutive years is considered an abandoned property under New York State Law. This period may vary for other states in the United States. For any account that is owned by residents of other states, the state law may require escheatment of abandoned property in accordance with its own reporting requirements. For non-U.S. customers, New York State Law will apply. No debits are permitted in inactive/ dormant accounts unless the account is activated by the customer. The process of account activation is given below: You are required to submit signed Customer Information Update form for activating inactive/dormant accounts. All activation requests should be accompanied with valid ID document, address proof and relevant documents. Account activation requests may be submitted in Branch, mail or sending signed request through online banking application. Upon receipt of your request, we will call your registered number to confirm the details given in your request. In case we are unable to reach you we will put your request on hold and inform you through email. Incomplete requests, requests received without requisite documents will not be accepted for activation. During the update of your information and activation process, bank will process a one cent entry (debit/credit transaction) in your account. CDs that renew automatically are deemed abandoned when there is no depositor contact for three years after the first maturity date following the last depositor contact. Funds in abandoned accounts are required to be turned over to the State (i.e., escheated). Information about property escheated to the State of New York may be obtained from the Office of the State Comptroller (https://www.osc.state.ny.us) or by calling from within New York State: 1-800-221-9311 or from outside of New York State: 1-518-270-2200 or by writing to the Office of the State Comptroller at the Alfred E. Smith Office Building, Albany, New York 12236. At your request, we will provide you with the required data to process your claim. Before surrendering the funds to the State of New York, we will notify you at your last recorded address and may also publish a notice in a newspaper in New York, if required by law. 5.3 Interest Withholding Tax: Interest owing to you could be subject to backup withholding if you have not given the Bank proper identification or forms or if otherwise required by IRS. FATCA withholding/ interest withholding will also apply if a foreign entity/ consumer does not re-certify. For current information, please contact your tax advisor or refer to the IRS website (https://www.irs.gov). 5.4 Interest Reporting: We are required by law to report to the Internal Revenue Service, all interest of $10 or more earned by you during a calendar year. At the beginning of the calendar year, we will advise you on Form 1099 or Form 1042 (NRA customers), the total amount of interest credited /paid during the previous year, any amount withheld and any interest penalty due to early withdrawal. Interest will be reported for tax purposes in the name and Social Security Number (SSN) or Employer Identification Number (EIN) of the primary depositor, i.e., the first name on the account in case of a joint account. If such first account holder does not have SSN or EIN, interest reporting will be done
State Bank of India New York Customer Manual for Deposits 43 account. What to do if you think there has been an error or problem with a remittance transfer: (1) Call us at 212-521-3234; or email at remiterror.nyb@statebank.com (2) Write to us at Remittance Section, State Bank of India, 460 Park Avenue, New York, NY-10022, USA. You must contact us within 180 days of the date we promised that the funds would be made available to the recipient. When you do, please tell us: (1) Your name and telephone number or address; (2) The error or problem with the transfer, and why you believe it is an error or problem; (3) The name of the person receiving the funds, and if you know it, his or her telephone number or address; (4) The dollar amount of the transfer; and (5) The confirmation code or number of the transaction. We will determine whether an error occurred within 90 days after you contact us, and we will correct any error promptly. We will tell you the results within three business days after completing our investigation. If we decide that there was no error, we will send you a written explanation. You may ask for copies of any documents we used in our investigation. 11. Internet Banking/ YONO US Portal: a. Internet Services This section of the Manual describes your use of the Bank’s Online Internet-based Banking Service (“Internet Banking”). By using the new Internet Banking, you may:  Open an account (Currently, this facility is not available)  Obtain account balance and other banking information  Transfer funds between own accounts  Transfer funds to other Banks within USA through Wire Transfers*  Transfer INR to India*  Transfer USD to any Bank outside USA too*  Send secure messages to the Bank  Order new checks / Stop Checks*  Uploading documents as attachment through Secure Message Platform  Pull fund from own accounts with other U.S. banks *Charges may apply b. Internet Banking Terms of Service You may enroll in our new Internet Banking at our website at https://sbinewyork.statebank/online- banking . Once you enroll on the new portal, you will have access to your account information for viewing purposes only. In order to obtain transaction rights in online banking mode, you must apply for Transaction Rights under “Requests/Services” Tab. The request shall be approved by the Bank upon receipt. During the enrollment process you will be presented with a copy of the Bank’s Online Banking Terms of Service. The Online Banking Terms of Service governs your use of the SBI Online Banking Services. Use of Internet Banking is expressly conditioned on your acceptance of these Online Banking Terms of Service. By using the Internet Banking, you acknowledge that you have read and agree to abide by the terms and conditions of these Online Banking Terms of Service. If you
k. Account Discrepancies: You must examine your statement of account and paid checks promptly and notify the Bank within 14 days, from the date of receipt of statement, of any discrepancies. If the discrepancy concerns an electronic funds transfer (e.g., Social Security credits, debit card or ACH transactions), then this notification should be made within 60 days of the Bank’s transmittal of the statement. If we do not hear from you within this period, we will assume that the statement is correct. Failure to examine your monthly statement and not reporting discrepancies to the Bank may also adversely affect your legal rights. For example, if you fail to notify us promptly on a forged check, you may lose your right to be reimbursed for a similar forgery, should one occur later. The Bank shall have the right to debit your accounts to recover any funds erroneously credited and to make good any shortfall from any other account you may have with us. Your accounts could be debited for any improper Government payments received by the Bank. If there is still a shortfall, you agree to repay us the amount owing. Interest paid on the erroneous credit will also be recovered. Further the Bank shall have right to recover funds from you if your account does not have sufficient funds to honor a pre-approved transaction done at a Merchant Establishment using your debit card or on account of other such transactions done using your debit card. Any two occurrences of your account having in-sufficient funds to cover a pre-approved/ authorized debit card transaction will lead to closure of your account and cancellation of the linked debit card facility. For account discrepancies you may call us at (212) 521-3283/ 3318 / 3286.
m. Change of Address, e-mail address, telephone number and account details: Please update us promptly of any change of address, e-mail address, telephone number or account details and include a complete list of all your accounts and account numbers. Please use Customer Information Update Form (CIP Form) available on our website for update of any information and submit the same along with copy of valid Photo ID and Address proof. Bank reserves the right to ask for additional documents on a case to case basis. If you do not inform us of the changes, mailing of account statements may be withheld and the accounts may be blocked for further transactions until we hear from you. Bank may ask you to update your account information through remediation form as and when there is any material change, or whenever bank requires. If this information is not provided within a reasonable time (30 days), the Bank may decide to decline further transactions in the account and may also close the account if not received the same in subsequent 60 days. For proof of the new address, a utility bill, State issued ID with current address, or Letter issued by Government Authority to the current address to give effect to your change of address request may be provided. All requests for Change of Address, e-mail address, telephone number and account details should be submitted along with a copy of valid ID document. Bank may also call you on your registered number for confirming the details given on the request. If your signed request for email/phone number change is received through modes other than online banking and over the counter, there will be a 30 day debit restriction on your account. n. Closing an Account: You may close your Checking /Money Market Deposit Account at any time provided the funds on deposit are not held against uncollected deposited checks or attached by any legal action. A service charge would apply to Checking/Money Market Deposit Accounts closed within three months of opening. If a hold is placed on your account because of a pre-approved merchant transaction done using your debit card, the Bank may not close the account until the transaction is completed or the hold is removed.
Contact for Higher Escalation vpeb.nyb@statebank.com vpdep.nyb@statebank.com 212-521-3311 212-521-3310 Trade Finance (i) Letter of Credit mgrlc.nyb@statebank.com 212-521-3275 (ii) Bills mgrbills.nyb@statebank.com 212-521-3273 Contact for Higher Escalation vptrade.nyb@statebank.com 212-521-3260 Credit Department Credit mgrcr1.nyb@statebank.com 212-521-3211 Contact for Escalation vpcr1.nyb@statebank.com 212-521-3262 Intermediary Wire Transfers Correspondent Banking and Intermediary Wire Transfers mgrpnr.nyb@statebank.com 212-521-3333 Contact for Higher Escalation vpicb.nyb@statebank.com 212-521-3329 If your issues are not resolved, you may contact the branch compliance officer : Phone No: 2125213229, Email: brco.nyb@statebank.com Please do not share your non-public information over email. Kindly use secured message service in online banking or send us your requests through mail*. *The mail is the service or system by which letters and packages are collected and delivered. Example: letters delivered through public carriers such as FED Ex, DHL, USPS, UPS etc. Mails received/Check received in mail on any given day will be attended to/processed on next business day only.
Change of Address, e-mail address, telephone number and account details: Bank may ask you to update your account information through remediation form as and when there is any material change, or whenever bank requires. If this information is not provided within a reasonable time (30 days), the Bank may decide to decline further transactions in the account and may also close the account if not received the same in subsequent 60 days. If your signed request for email/phone number change is received through modes other than online banking and over the counter, there will be a 30- day debit restriction on your account. 26 Inactive Accounts / Dormant Account Incomplete requests, requests received without requisite documents will not be accepted for activation. Inactive Accounts / Dormant Accounts Incomplete requests, requests received without requisite documents will not be accepted for activation. During the update of your information and activation process, bank will process a one cent entry (debit/credit transaction) in your account.
State Bank of India New York Customer Manual for Deposits 26 5.2 Inactive Accounts / Dormant Accounts An account in which there has been no transaction for 2 years is considered inactive and an account in which there has been no transaction for 3 years is considered dormant. An account in which there has been no activity or written correspondence from the account holder for three consecutive years is considered an abandoned property under New York State Law. This period may vary for other states in the United States. For any account that is owned by residents of other states, the state law may require escheatment of abandoned property in accordance with its own reporting requirements. For non-U.S. customers, New York State Law will apply. No debits are permitted in inactive/ dormant accounts unless the account is activated by the customer. The process of account activation is given below: You are required to submit signed Customer Information Update form for activating inactive/dormant accounts. All activation requests should be accompanied with valid ID document, address proof and relevant documents. Account activation requests may be submitted in Branch, mail or sending signed request through online banking application. Upon receipt of your request, we will call your registered number to confirm the details given in your request. In case we are unable to reach you we will put your request on hold and inform you through email. Incomplete requests, requests received without requisite documents will not be accepted for activation. During the update of your information and activation process, bank will process a one cent entry (debit/credit transaction) in your account. CDs that renew automatically are deemed abandoned when there is no depositor contact for three years after the first maturity date following the last depositor contact. Funds in abandoned accounts are required to be turned over to the State (i.e., escheated). Information about property escheated to the State of New York may be obtained from the Office of the State Comptroller (https://www.osc.state.ny.us) or by calling from within New York State: 1-800-221-9311 or from outside of New York State: 1-518-270-2200 or by writing to the Office of the State Comptroller at the Alfred E. Smith Office Building, Albany, New York 12236. At your request, we will provide you with the required data to process your claim. Before surrendering the funds to the State of New York, we will notify you at your last recorded address and may also publish a notice in a newspaper in New York, if required by law. 5.3 Interest Withholding Tax: Interest owing to you could be subject to backup withholding if you have not given the Bank proper identification or forms or if otherwise required by IRS. FATCA withholding/ interest withholding will also apply if a foreign entity/ consumer does not re-certify. For current information, please contact your tax advisor or refer to the IRS website (https://www.irs.gov). 5.4 Interest Reporting: We are required by law to report to the Internal Revenue Service, all interest of $10 or more earned by you during a calendar year. At the beginning of the calendar year, we will advise you on Form 1099 or Form 1042 (NRA customers), the total amount of interest credited /paid during the previous year, any amount withheld and any interest penalty due to early withdrawal. Interest will be reported for tax purposes in the name and Social Security Number (SSN) or Employer Identification Number (EIN) of the primary depositor, i.e., the first name on the account in case of a joint account. If such first account holder does not have SSN or EIN, interest reporting will be done
Lost or Stolen Card: If the Card is lost or stolen or someone has transferred funds from Card Holder’s Account without his/ her permission, the Card Holder must report the loss to the STAR Network immediately by calling the 24-hour toll-free number shown below or other numbers that may be numbers provided herein. If the Card Holder notifies the Bank within 2 business days of the loss or theft of the Card, the Card Holder’s loss due to unauthorized use of the Card is limited to $50. If the Card Holder does not notify the Bank within 2 business days of the loss or theft of the Card, and the Bank can prove that earlier notification could have prevented the use of the Card, the Card Holder’s liability for the loss could be as much as $500. If the theft is reported after 60 calendar days of the showing of fraud, the card holder may be liable for all unauthorized charges. If you believe that there has been un-authorized transaction(s) using your debit card, please contact us immediately. A Lost or Stolen Card may be reported by contacting: 1-800-523-4175. This toll-free number is available 24-hours a day. 12. Error Resolution: Disputes of ATM or Merchant Establishment Transactions appearing on the Card Holder’s Periodic Statement are subject to the Error Resolution Procedure as mentioned herein. Your rights to a refund or returned merchandise are generally the same as if you had paid by cash or check, and generally must be resolved with the merchant. a) You will get a monthly statement of your Checking/Money Market Account. If you think your statement or receipt is wrong or if you need more information about a transaction listed on the statement, or if you feel that there are other errors or if you have questions about your debit card transactions, please telephone or write to us at the following address: State Bank of India Deposit Section 460 Park Avenue, New York, N.Y 10022 Tel: (212)521-3200/3342 b) For error resolution, we must hear from you no later than 60 days after we sent the first statement on which the problem or error appeared. When writing to us about the error: • Tell us your name and Account number. • Describe the error or the transfer you are unsure about and explain as clearly as you can why you believe it is an error or why you need more information. • Tell us the dollar amount of the error.
State Bank of India New York Customer Manual for Deposits 42 otherwise incur on account of our provision of the Service to you and caused by your breach of our agreement or by your negligence, misconduct or other wrongful or illegal use of the Service. k. Privacy and Sharing and Use of Information. The information we obtain from you in connection with the Service may be confidential. We will maintain the confidentiality of such information in accordance with our normal procedures for safeguarding information regarding our customers and our Privacy Policy found elsewhere in this Manual. l. Special Rights Regarding “Remittance Transfers.” The Consumer Financial Protection Bureau’s Regulation E governs certain outgoing electronic international transactions initiated by consumers that are defined as “remittance transfers.” Included within the definition of a remittance transfer are wire transfers of funds from any of your consumer deposit or Money Market Deposit Accounts to third parties who are located, or whose accounts are located, in foreign countries. This means that when you request a remittance transfer: (1) You will receive specific disclosures about the details of the requested transfer before we will complete the transfer. (2) You have certain cancellation and refund rights in connection with the transfer if you change your mind within 30 minutes after making payment and the funds have not already been picked up or deposited into the recipient’s account. These rights are briefly summarized below. (3) You have certain rights if you suspect an error or problem with a remittance transfer. These rights are briefly summarized below. (4) We will send you a notice that we debited your account and you paid for the transfer. (5) Certain provisions of this Manual, which limit our liability to you or make you responsible for losses in various circumstances, do not apply and our or your liability or responsibility is instead governed by the Regulation E remittance transfer rules. Among other things, those rules provide that if you give us the incorrect account number or recipient institution identifier, you could lose the transfer amount. (6) There may also be other provisions of this Manual, that are inconsistent with certain rights or responsibilities of you or us under the Regulation E remittance transfer rules. In the event of any such inconsistency, Regulation E will control and this Manual, will be deemed modified so as to be consistent with the remittance transfer rules, without affecting the validity of any other provisions of the Manual. What to do if you want to cancel a remittance transfer: You have the right to cancel a remittance transfer and obtain a refund of all funds paid to us, including any fees. To cancel, you must contact us: by telephone at (212)-521-3234; by email at cancelremit.nyb@statebank.com or in person at the Bank within 30 minutes of making payment for the transfer. If you have initiated the remittance through new “YONO US Portal”, you can use the Cancellation facility within 30 minutes of creation of transaction to self-cancel the transfer. When you contact us, you must provide us with information to help us identify the transfer you wish to cancel, including your name, address and telephone number, the amount and location where the funds were to be sent and any identification number we have provided for you in connection with the transfer. We will refund your money within three business days of your request to cancel a transfer, as long as the funds have not already been picked up or deposited into the recipient’s
State Bank of India New York Customer Manual for Deposits 24 IMPORTANT INFORMATION ABOUT SUBSTITUTE CHECKS AND YOUR RIGHTS What is a substitute check? To make check processing faster, federal law permits banks to replace original checks with "substitute checks." These checks are similar to original checks with a slightly reduced image of the front and back of the original check. The front of a substitute check states: "This is a legal copy of your check. You can use it the same way you would use the original check." You may use a substitute check as proof of payment just like the original check. Some or all of the checks that you receive back from us may be substitute checks. This notice describes rights you have when you receive substitute checks from us. The rights in this notice do not apply to original checks or to electronic debits to your account. However, you have rights under other law with respect to those transactions. What are your rights regarding substitute check? In certain cases, federal law provides a special procedure that allows you to request a refund for losses you suffer if a substitute check is posted to your account (for example, if you think that we withdrew the wrong amount from your account or that we withdrew money from your account more than once for the same check). The losses you may attempt to recover under this procedure may include the amount that was withdrawn from your account and fees that were charged as a result of the withdrawal (for example, bounced check fees). The amount of your refund under this procedure is limited to the amount of your loss or the amount of the substitute check, whichever is less. You also are entitled to interest on the amount of your refund if your account is an interest-bearing account. If your loss exceeds the amount of the substitute check, you may be able to recover additional amounts under other law. If you use this procedure, you may receive up to $2,500 of your refund (plus interest if your account earns interest) within 10 business days after we received your claim and the remainder of your refund (plus interest if your account earns interest) not later than 45 calendar days after we received your claim. We may reverse the refund (including any interest on the refund) if we later are able to demonstrate that the substitute check was correctly posted to your account. How can you make a claim for a refund? If you believe that you have suffered a loss relating to a substitute check that you received and that was posted to your account, please contact us by phone at (212)521-3286/3318 or by postal mail at our mailing address. You must contact us within 40 calendar days of the date that we mailed (or otherwise delivered by a means to which you agreed) the substitute check in question or the account statement showing that the substitute check was posted to your account, whichever is later. We may extend this time period if you were not able to make a timely claim because of extraordinary circumstances. Your claim must be made in writing on the prescribed form, be signed by you and include: A description of why you have suffered a loss (e.g. you think the amount withdrawn was incorrect); An estimate of the amount of your loss;
State Bank of India New York Customer Manual for Deposits 43 account. What to do if you think there has been an error or problem with a remittance transfer: (1) Call us at 212-521-3234; or email at remiterror.nyb@statebank.com (2) Write to us at Remittance Section, State Bank of India, 460 Park Avenue, New York, NY-10022, USA. You must contact us within 180 days of the date we promised that the funds would be made available to the recipient. When you do, please tell us: (1) Your name and telephone number or address; (2) The error or problem with the transfer, and why you believe it is an error or problem; (3) The name of the person receiving the funds, and if you know it, his or her telephone number or address; (4) The dollar amount of the transfer; and (5) The confirmation code or number of the transaction. We will determine whether an error occurred within 90 days after you contact us, and we will correct any error promptly. We will tell you the results within three business days after completing our investigation. If we decide that there was no error, we will send you a written explanation. You may ask for copies of any documents we used in our investigation. 11. Internet Banking/ YONO US Portal: a. Internet Services This section of the Manual describes your use of the Bank’s Online Internet-based Banking Service (“Internet Banking”). By using the new Internet Banking, you may:  Open an account (Currently, this facility is not available)  Obtain account balance and other banking information  Transfer funds between own accounts  Transfer funds to other Banks within USA through Wire Transfers*  Transfer INR to India*  Transfer USD to any Bank outside USA too*  Send secure messages to the Bank  Order new checks / Stop Checks*  Uploading documents as attachment through Secure Message Platform  Pull fund from own accounts with other U.S. banks *Charges may apply b. Internet Banking Terms of Service You may enroll in our new Internet Banking at our website at https://sbinewyork.statebank/online- banking . Once you enroll on the new portal, you will have access to your account information for viewing purposes only. In order to obtain transaction rights in online banking mode, you must apply for Transaction Rights under “Requests/Services” Tab. The request shall be approved by the Bank upon receipt. During the enrollment process you will be presented with a copy of the Bank’s Online Banking Terms of Service. The Online Banking Terms of Service governs your use of the SBI Online Banking Services. Use of Internet Banking is expressly conditioned on your acceptance of these Online Banking Terms of Service. By using the Internet Banking, you acknowledge that you have read and agree to abide by the terms and conditions of these Online Banking Terms of Service. If you
• Principal: The exact sum of money deposited in an account or the amount of money borrowed. • Right of Set-Off: Right to adjust any overdue debt from any other account held singly or jointly with us. • Substitute Check: means a paper reproduction of an original check that contains an image of the front and back of the original check, bears a MICR line, and is suitable for automated processing in the same manner as the original check. 7 Privacy Notice: FACTS WHAT DOES STATE BANK OF INDIA (SBI-US) DO WITH YOUR PERSONAL INFORMATION? Why? Financial companies choose how they share your personal information. Federal law gives consumers the right to limit some but not all sharing. Federal law also requires us to tell you how we collect, share, and protect your personal information. Please read this notice carefully to understand what we do. What? The types of personal information we collect and share depend on the product or service you have with us. This information can include: Social Security number and income Account balances and payment history Assets and debt When you are no longer our customer, we continue to share your information as described in this notice.

Test Case

Question: What is the procedure for requesting a refund for losses suffered due to a substitute check?

Metric Baseline Score Current Score
answer_accuracy 0.84725982 0.84725982
groundedness 0.92106443 0.92106443
mean_answer_similarity 0.84786805 0.84801078 (+0.00014272)
mean_reciprocal_rank 1.00000000 1.00000000
min_answer_similarity 0.75955532 0.75955532
model_failures 0.00000000 0.00000000
model_generation_failures 0.00000000 0.00000000
model_parse_failures 0.00000000 0.00000000
model_passes 1.00000000 1.00000000
model_retrieval_failures 0.00000000 0.00000000
precision_relevancy 0.85898185 0.85881987 (-0.00016198)
recall_relevancy 0.93467319 0.93467319
rouge_1 0.26785714 0.26865672 (+0.00079957)
rouge_2 0.20359281 0.20420420 (+0.00061139)
rouge_l 0.22619048 0.22686567 (+0.00067520)

Legend:

  • Metric : The evaluation metric name. Shown in bold red if the metric flipped between pass/fail status.
  • Baseline Score : The metric value for the baseline model. Shown in bold green if baseline won, red if lost.
  • Current Score : The metric value for the current model, followed by the delta from baseline in parentheses.
  • Delta Colors : Green = improvement, Orange = regression, Red = metric flipped to fail.
  • Winner Determination : For each metric, the winner is determined by comparing scores while considering the metric's directionality (higher is better vs. lower is better).
Baseline Result Current Result
Model claude-3-7-sonnet-20250219@h2ogpte claude-3-7-sonnet-20250219@h2ogpte
Question What is the procedure for requesting a refund for losses suffered due to a substitute check?
Expected answer The Card Holder must contact the Bank within 40 calendar days of the date that the Bank mailed (or otherwise delivered by a means to which the Card Holder agreed) the substitute check in question or the account statement showing that the substitute check was posted to the Card Holder's account, whichever is later.
Actual Answer According to the document, if you believe you have suffered a loss relating to a substitute check that was posted to your account, the procedure for requesting a refund is as follows: 1. You must contact State Bank of India by phone at (212)521-3286/3318 or by postal mail at their mailing address. 2. You must make this contact within 40 calendar days of either: - The date the bank mailed (or otherwise delivered) the substitute check in question, or - The date of the account statement showing that the substitute check was posted to your account, whichever is later. 3. Your claim must be: - Made in writing on the prescribed form - Signed by you - Include the following information: * A description of why you suffered a loss (e.g., you think the amount withdrawn was incorrect) * An estimate of the amount of your loss * An explanation of why the substitute check is insufficient to confirm your loss * A copy of the substitute check and/or identifying information to help identify the substitute check (such as check number, name of payee, and amount) The document notes that both a legible copy of the substitute check and the details are preferred for an early response from the Bank. If your claim is valid, you may receive up to $2,500 of your refund (plus interest if your account earns interest) within 10 business days after they receive your claim, and the remainder of your refund (plus interest if applicable) no later than 45 calendar days after they receive your claim. The bank may reverse the refund (including any interest) if they later demonstrate that the substitute check was correctly posted to your account. According to the document, if you believe you have suffered a loss relating to a substitute check that was posted to your account, the procedure for requesting a refund is as follows: 1. You must contact State Bank of India by phone at (212)521-3286/3318 or by postal mail at their mailing address. 2. You must make this contact within 40 calendar days of either: - The date the bank mailed (or otherwise delivered) the substitute check in question, or - The date of the account statement showing that the substitute check was posted to your account, whichever is later. 3. Your claim must be: - Made in writing on the prescribed form - Signed by you - Include the following information: * A description of why you suffered a loss (e.g., you think the amount withdrawn was incorrect) * An estimate of the amount of your loss * An explanation of why the substitute check is insufficient to confirm your loss * A copy of the substitute check and/or information to help identify the substitute check (such as check number, name of payee, and amount) The document notes that both a legible copy of the substitute check and the details are preferred for an early response from the Bank. If your claim is valid, you may receive up to $2,500 of your refund (plus interest if your account earns interest) within 10 business days after they receive your claim, and the remainder of your refund (plus interest if applicable) no later than 45 calendar days after they receive your claim. The bank may reverse the refund (including any interest) if they later demonstrate that the substitute check was correctly posted to your account.
Retrieved Context
State Bank of India New York Customer Manual for Deposits 25 An explanation of why the substitute check you received is insufficient to confirm that you suffered a loss; and A copy of the substitute check [and/or] the following information to help us identify the substitute check: (identifying information, for example the check number, the name of the person to whom you wrote the check, the amount of the check). [Both a legible copy of the substitute check and the details are preferred for an early response from the Bank] 5. ADDITIONAL INFORMATION ON DEPOSIT ACCOUNTS 5.1 Designation of Beneficiary We have introduced the DOB (Designation of Beneficiary) facility for individual customers. The facility is available to both existing as well as new customers. You can also designate beneficiaries for your existing accounts with us. The DOB form is available on our website https://sbinewyork.statebank. Please read the FAQ below to understand the DOB facility. a) What is the total number of beneficiaries permitted? The total number of beneficiaries will be restricted to four (4). It is Bank’s policy to accept designations where all beneficiaries have equal shares. In the event a beneficiary pre- deceases the account holder(s) the surviving beneficiaries will be entitled to equal shares of the balance of the account.
State Bank of India New York Customer Manual for Deposits 24 IMPORTANT INFORMATION ABOUT SUBSTITUTE CHECKS AND YOUR RIGHTS What is a substitute check? To make check processing faster, federal law permits banks to replace original checks with "substitute checks." These checks are similar to original checks with a slightly reduced image of the front and back of the original check. The front of a substitute check states: "This is a legal copy of your check. You can use it the same way you would use the original check." You may use a substitute check as proof of payment just like the original check. Some or all of the checks that you receive back from us may be substitute checks. This notice describes rights you have when you receive substitute checks from us. The rights in this notice do not apply to original checks or to electronic debits to your account. However, you have rights under other law with respect to those transactions. What are your rights regarding substitute check? In certain cases, federal law provides a special procedure that allows you to request a refund for losses you suffer if a substitute check is posted to your account (for example, if you think that we withdrew the wrong amount from your account or that we withdrew money from your account more than once for the same check). The losses you may attempt to recover under this procedure may include the amount that was withdrawn from your account and fees that were charged as a result of the withdrawal (for example, bounced check fees). The amount of your refund under this procedure is limited to the amount of your loss or the amount of the substitute check, whichever is less. You also are entitled to interest on the amount of your refund if your account is an interest-bearing account. If your loss exceeds the amount of the substitute check, you may be able to recover additional amounts under other law. If you use this procedure, you may receive up to $2,500 of your refund (plus interest if your account earns interest) within 10 business days after we received your claim and the remainder of your refund (plus interest if your account earns interest) not later than 45 calendar days after we received your claim. We may reverse the refund (including any interest on the refund) if we later are able to demonstrate that the substitute check was correctly posted to your account. How can you make a claim for a refund? If you believe that you have suffered a loss relating to a substitute check that you received and that was posted to your account, please contact us by phone at (212)521-3286/3318 or by postal mail at our mailing address. You must contact us within 40 calendar days of the date that we mailed (or otherwise delivered by a means to which you agreed) the substitute check in question or the account statement showing that the substitute check was posted to your account, whichever is later. We may extend this time period if you were not able to make a timely claim because of extraordinary circumstances. Your claim must be made in writing on the prescribed form, be signed by you and include: A description of why you have suffered a loss (e.g. you think the amount withdrawn was incorrect); An estimate of the amount of your loss;
• Principal: The exact sum of money deposited in an account or the amount of money borrowed. • Right of Set-Off: Right to adjust any overdue debt from any other account held singly or jointly with us. • Substitute Check: means a paper reproduction of an original check that contains an image of the front and back of the original check, bears a MICR line, and is suitable for automated processing in the same manner as the original check. 7 Privacy Notice: FACTS WHAT DOES STATE BANK OF INDIA (SBI-US) DO WITH YOUR PERSONAL INFORMATION? Why? Financial companies choose how they share your personal information. Federal law gives consumers the right to limit some but not all sharing. Federal law also requires us to tell you how we collect, share, and protect your personal information. Please read this notice carefully to understand what we do. What? The types of personal information we collect and share depend on the product or service you have with us. This information can include: Social Security number and income Account balances and payment history Assets and debt When you are no longer our customer, we continue to share your information as described in this notice.
Lost or Stolen Card: If the Card is lost or stolen or someone has transferred funds from Card Holder’s Account without his/ her permission, the Card Holder must report the loss to the STAR Network immediately by calling the 24-hour toll-free number shown below or other numbers that may be numbers provided herein. If the Card Holder notifies the Bank within 2 business days of the loss or theft of the Card, the Card Holder’s loss due to unauthorized use of the Card is limited to $50. If the Card Holder does not notify the Bank within 2 business days of the loss or theft of the Card, and the Bank can prove that earlier notification could have prevented the use of the Card, the Card Holder’s liability for the loss could be as much as $500. If the theft is reported after 60 calendar days of the showing of fraud, the card holder may be liable for all unauthorized charges. If you believe that there has been un-authorized transaction(s) using your debit card, please contact us immediately. A Lost or Stolen Card may be reported by contacting: 1-800-523-4175. This toll-free number is available 24-hours a day. 12. Error Resolution: Disputes of ATM or Merchant Establishment Transactions appearing on the Card Holder’s Periodic Statement are subject to the Error Resolution Procedure as mentioned herein. Your rights to a refund or returned merchandise are generally the same as if you had paid by cash or check, and generally must be resolved with the merchant. a) You will get a monthly statement of your Checking/Money Market Account. If you think your statement or receipt is wrong or if you need more information about a transaction listed on the statement, or if you feel that there are other errors or if you have questions about your debit card transactions, please telephone or write to us at the following address: State Bank of India Deposit Section 460 Park Avenue, New York, N.Y 10022 Tel: (212)521-3200/3342 b) For error resolution, we must hear from you no later than 60 days after we sent the first statement on which the problem or error appeared. When writing to us about the error: • Tell us your name and Account number. • Describe the error or the transfer you are unsure about and explain as clearly as you can why you believe it is an error or why you need more information. • Tell us the dollar amount of the error.
State Bank of India New York Customer Manual for Deposits 53 c) If you tell us about the error orally, in person or by telephone, we require that you send us your complaint or question in writing within ten business days. d) We shall tell you the results of our preliminary investigation within 10 business days after we hear from you and will correct any error promptly. Sometimes we may take up to 45 days to investigate certain complaints or questions. In such cases, we will provisionally credit your Account upon your indemnifying us within 10 business days for the amount you think is in error, so that you may have the use of the money during the time it takes us to complete our investigation. If we ask you to put your complaint or question in writing and we do not receive it within 10 business days, we may not credit your Account. e) For errors involving new Accounts, point-of-sale, or foreign-initiated transactions, we may take up to 90 days to investigate your complaint or question. For new Accounts we may take up to 20 business days to credit your Account for the amount you think is in error. If we decide there was no error, we will send you a written explanation within three business days after we finish our investigation. You may ask for copies of the documents that we used in our investigation. 13. Anti-Money Laundering: The Bank, to the extent required by federal law under the USA PATRIOT Act and others, may keep records or make reports of high-dollar Transactions, suspicious activity, or foreign currency Transactions, as necessary to comply with the law and to detect and prevent illegal activity. There are serious civil and criminal consequences to engaging in illegal financial transactions. 14. Limitation of Bank’s Liability: The Bank shall not be liable to the Card Holder or to any third party, for any loss or damage suffered due to the following reasons: a) Any action carried out by the Bank, in good faith, based upon the instructions of the Card Holder, exercising due diligence and reasonable care; b) Any unauthorized and illegal Transactions occurring through the use of Bank Account(s), which can be attributed to the fraudulent or negligent conduct of the Card Holder, to the extent permitted by law; c) Any ATM or Merchant Establishment refusal to honor the Card, for whatever reason; d) Intrusion or hacking into the computer system/network or communication network of the Bank, to the extent permitted by law; e) Failure to carry out any instructions of the Card Holder due to insufficiency of balance in the Card Holder’s Account(s) or if the card Holder’s funds are subject to legal process or other restriction; f) Failure of the Card Holder to access the Account due to any Force Majeure Event, Technical Problems, or any other reason beyond the control of the Bank; g) Failure of the Card Holder to keep confidential and secure, PIN or any passwords, keywords or other identification marks given to the Card Holder for operating of the Account and/or Card; h) Failure of the Card Holder to inform the Bank regarding any changes in the Card Holder’s personal information; i) Breach of any of the other terms and conditions stated herein or in the Customer Manual by the Card Holder; j) Non-debiting of Transaction amount instantly through ATM or Merchant Transactions;
State Bank of India New York Customer Manual for Deposits 20 If you apply for a duplicate official check or a refund within 180 days of the date of the check, the Bank would require you and the payee to jointly sign an affidavit of loss and indemnity, referred to as Indemnity Agreement. You may also be required to submit a Surety Bond for twice the amount of the instrument or to place sufficient funds as security with us. After 180 days, an affidavit of loss and indemnity alone may suffice. A fee (see “Schedule of Fees & Charges”) will be charged for each stop payment request. i. Your Records: Your cancelled check(s) or substitute check(s), copies of special withdrawal form(s) and acknowledgment(s) on deposit slip(s) are your records. Paid and cancelled checks or substitute checks will be mailed with the statement of accounts to U.S. based customers. The cancelled checks or substitute checks for non-U.S. based accounts will normally be retained by the Bank. j. Statement of Account: Both Checking and Money Market Deposit Accounts are statement accounts. For all active statement accounts (that is, accounts which are not inactive or dormant as explained in Section 5.2) at least once in a calendar month, we will send a statement showing all account activities during the previous statement period. This statement will indicate your balance on the statement date and will give you an itemized, date-wise listing of all credits, all paid checks/ transfers, transactions put through using the linked debit card, interest earned, and any maintenance and service charges levied. It will also indicate the annual percentage yield earned (APYE) in effect during the period, if the account is interest bearing. All statements will be mailed to the last address known to the Bank by regular mail. For additional statements and other modes of sending statements, charges will be extra. No periodic account statements will be sent on CD accounts. Statements of Account are not available online, however, you may view the transactions online through internet banking.
State Bank of India New York Customer Manual for Deposits 42 otherwise incur on account of our provision of the Service to you and caused by your breach of our agreement or by your negligence, misconduct or other wrongful or illegal use of the Service. k. Privacy and Sharing and Use of Information. The information we obtain from you in connection with the Service may be confidential. We will maintain the confidentiality of such information in accordance with our normal procedures for safeguarding information regarding our customers and our Privacy Policy found elsewhere in this Manual. l. Special Rights Regarding “Remittance Transfers.” The Consumer Financial Protection Bureau’s Regulation E governs certain outgoing electronic international transactions initiated by consumers that are defined as “remittance transfers.” Included within the definition of a remittance transfer are wire transfers of funds from any of your consumer deposit or Money Market Deposit Accounts to third parties who are located, or whose accounts are located, in foreign countries. This means that when you request a remittance transfer: (1) You will receive specific disclosures about the details of the requested transfer before we will complete the transfer. (2) You have certain cancellation and refund rights in connection with the transfer if you change your mind within 30 minutes after making payment and the funds have not already been picked up or deposited into the recipient’s account. These rights are briefly summarized below. (3) You have certain rights if you suspect an error or problem with a remittance transfer. These rights are briefly summarized below. (4) We will send you a notice that we debited your account and you paid for the transfer. (5) Certain provisions of this Manual, which limit our liability to you or make you responsible for losses in various circumstances, do not apply and our or your liability or responsibility is instead governed by the Regulation E remittance transfer rules. Among other things, those rules provide that if you give us the incorrect account number or recipient institution identifier, you could lose the transfer amount. (6) There may also be other provisions of this Manual, that are inconsistent with certain rights or responsibilities of you or us under the Regulation E remittance transfer rules. In the event of any such inconsistency, Regulation E will control and this Manual, will be deemed modified so as to be consistent with the remittance transfer rules, without affecting the validity of any other provisions of the Manual. What to do if you want to cancel a remittance transfer: You have the right to cancel a remittance transfer and obtain a refund of all funds paid to us, including any fees. To cancel, you must contact us: by telephone at (212)-521-3234; by email at cancelremit.nyb@statebank.com or in person at the Bank within 30 minutes of making payment for the transfer. If you have initiated the remittance through new “YONO US Portal”, you can use the Cancellation facility within 30 minutes of creation of transaction to self-cancel the transfer. When you contact us, you must provide us with information to help us identify the transfer you wish to cancel, including your name, address and telephone number, the amount and location where the funds were to be sent and any identification number we have provided for you in connection with the transfer. We will refund your money within three business days of your request to cancel a transfer, as long as the funds have not already been picked up or deposited into the recipient’s
State Bank of India New York Customer Manual for Deposits 54 k) Under no circumstances shall the Bank be liable for any damages, whatsoever whether such damages are direct, indirect, incidental, consequential and irrespective of whether any claim is based on loss of revenue, investment, production, goodwill, profit, interruption of business or any other loss of any character of nature whatsoever and whether sustained by the Card Holder or any other third party. 15. Changes in Terms: The Bank may amend this Supplement from time to time in accordance with the changes provided in the Customer Manual. 16. Termination: The Bank reserves the right to cancel or withdraw the Card or any of the other services offered at any time without assigning any reason. a) If the Card Holder closes the Account, the Card(s) issued with the Account will be void. The Card Holder(s) must immediately cease to use the Card and destroy all additional Cards. If there are outstanding Transactions pending to the Account, the same will be netted out from the balance prior to the Bank returning the funds to the Card Holder. If the Account is closed, due to any reason whatsoever, prior to debit of any outstanding Card Transactions, Card Holder is liable to refund the amount along with the interest and charges applicable from time to time.
State Bank of India New York Customer Manual for Deposits 22 The Bank also reserves the right to close your accounts without any prior notice for any reason in the Bank’s sole discretion. The Bank will mail you a check for the balance in the accounts. The Bank may give you notice before taking this step, although we are not obliged to do so. We also reserve the right to close your account if your account has a NIL balance for more than three (3) months. Payment of interest on your account (if your account is interest-bearing) will cease from the date of closure of the account. Checking and Money Market Deposit Accounts cannot be negotiated or transferred to another individual or corporation or entity. o. Bank’s Liability: If the Bank does not complete a transfer to or from your account in time or for the correct amount as per your agreement with us, we will be liable for your direct losses or damages but not any indirect costs or punitive costs or damages. However, the Bank will not be liable in circumstances such as:  The funds in your account are not sufficient to affect the transfer  The automated teller machine where you were making the transfer has a communication failure.  The automated teller machine did not have enough cash  If circumstances beyond our control prevent the transfer.  If we are unable to confirm the transaction with you (if required)  Any other exceptions stated in our agreement with you.
State Bank of India New York Customer Manual for Deposits 51 allow the Card Holder to cancel a hold within MasterCard limits for Transactions that were authorized by the Card Holder. If, however, the Card Holder suspects that a Transaction was fraudulent or otherwise unauthorized, the Card Holder should contact the Merchant and the Bank for possible ways to chargeback the debit. Please see the Error Resolution Procedures in subsequent paras for more information. 10. Cancellation of pre-authorized Transactions scheduled at regular intervals: While a Card Holder is generally not permitted to cancel Debit Card Transactions and holds, the cardholder is permitted to cancel, or place a stop payment, on a pre-authorized transaction scheduled to occur at regular intervals, such as a monthly utility payment or loan installment. Before requesting the Bank for stopping a recurring payment, the cardholder should take up with the merchant/ beneficiary for cancelling/ stopping such payment. The Bank may require details of such request made to the merchant/ beneficiary for acting upon Card Holder’s request. The Card Holder must give the Bank written instructions to cancel or stop such a payment at least three (3) days prior to the scheduled debit. The stop payment instruction should be accompanied with a letter of indemnity signed by the Account holder/ Card Holder. The stop order takes effect when it is recorded on your Account. In case of a pre-authorized recurring transaction, we will need the amount, the scheduled date of debit, name of the beneficiary. In the absence of complete and correct particulars, the stop order would be ineffective. If we fail to stop a payment and if you have requested us well in time and with all the particulars as detailed above, we will be liable for your losses or damages. An oral order is binding upon the Bank only for fourteen days unless confirmed in writing within that period. A written order is effective for only six months unless renewed/cancelled in writing. You may inquire about the status of a pre-authorized transaction by calling us on 212-521-3342 on a business day and during the business hours. A fee of USD 10.00 will be charged for each stop payment request made.
State Bank of India New York Customer Manual for Deposits 25 An explanation of why the substitute check you received is insufficient to confirm that you suffered a loss; and A copy of the substitute check [and/or] the following information to help us identify the substitute check: (identifying information, for example the check number, the name of the person to whom you wrote the check, the amount of the check). [Both a legible copy of the substitute check and the details are preferred for an early response from the Bank] 5. ADDITIONAL INFORMATION ON DEPOSIT ACCOUNTS 5.1 Designation of Beneficiary We have introduced the DOB (Designation of Beneficiary) facility for individual customers. The facility is available to both existing as well as new customers. You can also designate beneficiaries for your existing accounts with us. The DOB form is available on our website https://sbinewyork.statebank. Please read the FAQ below to understand the DOB facility. a) What is the total number of beneficiaries permitted? The total number of beneficiaries will be restricted to four (4). It is Bank’s policy to accept designations where all beneficiaries have equal shares. In the event a beneficiary pre- deceases the account holder(s) the surviving beneficiaries will be entitled to equal shares of the balance of the account.
State Bank of India New York Customer Manual for Deposits 24 IMPORTANT INFORMATION ABOUT SUBSTITUTE CHECKS AND YOUR RIGHTS What is a substitute check? To make check processing faster, federal law permits banks to replace original checks with "substitute checks." These checks are similar to original checks with a slightly reduced image of the front and back of the original check. The front of a substitute check states: "This is a legal copy of your check. You can use it the same way you would use the original check." You may use a substitute check as proof of payment just like the original check. Some or all of the checks that you receive back from us may be substitute checks. This notice describes rights you have when you receive substitute checks from us. The rights in this notice do not apply to original checks or to electronic debits to your account. However, you have rights under other law with respect to those transactions. What are your rights regarding substitute check? In certain cases, federal law provides a special procedure that allows you to request a refund for losses you suffer if a substitute check is posted to your account (for example, if you think that we withdrew the wrong amount from your account or that we withdrew money from your account more than once for the same check). The losses you may attempt to recover under this procedure may include the amount that was withdrawn from your account and fees that were charged as a result of the withdrawal (for example, bounced check fees). The amount of your refund under this procedure is limited to the amount of your loss or the amount of the substitute check, whichever is less. You also are entitled to interest on the amount of your refund if your account is an interest-bearing account. If your loss exceeds the amount of the substitute check, you may be able to recover additional amounts under other law. If you use this procedure, you may receive up to $2,500 of your refund (plus interest if your account earns interest) within 10 business days after we received your claim and the remainder of your refund (plus interest if your account earns interest) not later than 45 calendar days after we received your claim. We may reverse the refund (including any interest on the refund) if we later are able to demonstrate that the substitute check was correctly posted to your account. How can you make a claim for a refund? If you believe that you have suffered a loss relating to a substitute check that you received and that was posted to your account, please contact us by phone at (212)521-3286/3318 or by postal mail at our mailing address. You must contact us within 40 calendar days of the date that we mailed (or otherwise delivered by a means to which you agreed) the substitute check in question or the account statement showing that the substitute check was posted to your account, whichever is later. We may extend this time period if you were not able to make a timely claim because of extraordinary circumstances. Your claim must be made in writing on the prescribed form, be signed by you and include: A description of why you have suffered a loss (e.g. you think the amount withdrawn was incorrect); An estimate of the amount of your loss;
• Principal: The exact sum of money deposited in an account or the amount of money borrowed. • Right of Set-Off: Right to adjust any overdue debt from any other account held singly or jointly with us. • Substitute Check: means a paper reproduction of an original check that contains an image of the front and back of the original check, bears a MICR line, and is suitable for automated processing in the same manner as the original check. 7 Privacy Notice: FACTS WHAT DOES STATE BANK OF INDIA (SBI-US) DO WITH YOUR PERSONAL INFORMATION? Why? Financial companies choose how they share your personal information. Federal law gives consumers the right to limit some but not all sharing. Federal law also requires us to tell you how we collect, share, and protect your personal information. Please read this notice carefully to understand what we do. What? The types of personal information we collect and share depend on the product or service you have with us. This information can include: Social Security number and income Account balances and payment history Assets and debt When you are no longer our customer, we continue to share your information as described in this notice.
Lost or Stolen Card: If the Card is lost or stolen or someone has transferred funds from Card Holder’s Account without his/ her permission, the Card Holder must report the loss to the STAR Network immediately by calling the 24-hour toll-free number shown below or other numbers that may be numbers provided herein. If the Card Holder notifies the Bank within 2 business days of the loss or theft of the Card, the Card Holder’s loss due to unauthorized use of the Card is limited to $50. If the Card Holder does not notify the Bank within 2 business days of the loss or theft of the Card, and the Bank can prove that earlier notification could have prevented the use of the Card, the Card Holder’s liability for the loss could be as much as $500. If the theft is reported after 60 calendar days of the showing of fraud, the card holder may be liable for all unauthorized charges. If you believe that there has been un-authorized transaction(s) using your debit card, please contact us immediately. A Lost or Stolen Card may be reported by contacting: 1-800-523-4175. This toll-free number is available 24-hours a day. 12. Error Resolution: Disputes of ATM or Merchant Establishment Transactions appearing on the Card Holder’s Periodic Statement are subject to the Error Resolution Procedure as mentioned herein. Your rights to a refund or returned merchandise are generally the same as if you had paid by cash or check, and generally must be resolved with the merchant. a) You will get a monthly statement of your Checking/Money Market Account. If you think your statement or receipt is wrong or if you need more information about a transaction listed on the statement, or if you feel that there are other errors or if you have questions about your debit card transactions, please telephone or write to us at the following address: State Bank of India Deposit Section 460 Park Avenue, New York, N.Y 10022 Tel: (212)521-3200/3342 b) For error resolution, we must hear from you no later than 60 days after we sent the first statement on which the problem or error appeared. When writing to us about the error: • Tell us your name and Account number. • Describe the error or the transfer you are unsure about and explain as clearly as you can why you believe it is an error or why you need more information. • Tell us the dollar amount of the error.
State Bank of India New York Customer Manual for Deposits 53 c) If you tell us about the error orally, in person or by telephone, we require that you send us your complaint or question in writing within ten business days. d) We shall tell you the results of our preliminary investigation within 10 business days after we hear from you and will correct any error promptly. Sometimes we may take up to 45 days to investigate certain complaints or questions. In such cases, we will provisionally credit your Account upon your indemnifying us within 10 business days for the amount you think is in error, so that you may have the use of the money during the time it takes us to complete our investigation. If we ask you to put your complaint or question in writing and we do not receive it within 10 business days, we may not credit your Account. e) For errors involving new Accounts, point-of-sale, or foreign-initiated transactions, we may take up to 90 days to investigate your complaint or question. For new Accounts we may take up to 20 business days to credit your Account for the amount you think is in error. If we decide there was no error, we will send you a written explanation within three business days after we finish our investigation. You may ask for copies of the documents that we used in our investigation. 13. Anti-Money Laundering: The Bank, to the extent required by federal law under the USA PATRIOT Act and others, may keep records or make reports of high-dollar Transactions, suspicious activity, or foreign currency Transactions, as necessary to comply with the law and to detect and prevent illegal activity. There are serious civil and criminal consequences to engaging in illegal financial transactions. 14. Limitation of Bank’s Liability: The Bank shall not be liable to the Card Holder or to any third party, for any loss or damage suffered due to the following reasons: a) Any action carried out by the Bank, in good faith, based upon the instructions of the Card Holder, exercising due diligence and reasonable care; b) Any unauthorized and illegal Transactions occurring through the use of Bank Account(s), which can be attributed to the fraudulent or negligent conduct of the Card Holder, to the extent permitted by law; c) Any ATM or Merchant Establishment refusal to honor the Card, for whatever reason; d) Intrusion or hacking into the computer system/network or communication network of the Bank, to the extent permitted by law; e) Failure to carry out any instructions of the Card Holder due to insufficiency of balance in the Card Holder’s Account(s) or if the card Holder’s funds are subject to legal process or other restriction; f) Failure of the Card Holder to access the Account due to any Force Majeure Event, Technical Problems, or any other reason beyond the control of the Bank; g) Failure of the Card Holder to keep confidential and secure, PIN or any passwords, keywords or other identification marks given to the Card Holder for operating of the Account and/or Card; h) Failure of the Card Holder to inform the Bank regarding any changes in the Card Holder’s personal information; i) Breach of any of the other terms and conditions stated herein or in the Customer Manual by the Card Holder; j) Non-debiting of Transaction amount instantly through ATM or Merchant Transactions;
State Bank of India New York Customer Manual for Deposits 20 If you apply for a duplicate official check or a refund within 180 days of the date of the check, the Bank would require you and the payee to jointly sign an affidavit of loss and indemnity, referred to as Indemnity Agreement. You may also be required to submit a Surety Bond for twice the amount of the instrument or to place sufficient funds as security with us. After 180 days, an affidavit of loss and indemnity alone may suffice. A fee (see “Schedule of Fees & Charges”) will be charged for each stop payment request. i. Your Records: Your cancelled check(s) or substitute check(s), copies of special withdrawal form(s) and acknowledgment(s) on deposit slip(s) are your records. Paid and cancelled checks or substitute checks will be mailed with the statement of accounts to U.S. based customers. The cancelled checks or substitute checks for non-U.S. based accounts will normally be retained by the Bank. j. Statement of Account: Both Checking and Money Market Deposit Accounts are statement accounts. For all active statement accounts (that is, accounts which are not inactive or dormant as explained in Section 5.2) at least once in a calendar month, we will send a statement showing all account activities during the previous statement period. This statement will indicate your balance on the statement date and will give you an itemized, date-wise listing of all credits, all paid checks/ transfers, transactions put through using the linked debit card, interest earned, and any maintenance and service charges levied. It will also indicate the annual percentage yield earned (APYE) in effect during the period, if the account is interest bearing. All statements will be mailed to the last address known to the Bank by regular mail. For additional statements and other modes of sending statements, charges will be extra. No periodic account statements will be sent on CD accounts. Statements of Account are not available online, however, you may view the transactions online through internet banking.
State Bank of India New York Customer Manual for Deposits 42 otherwise incur on account of our provision of the Service to you and caused by your breach of our agreement or by your negligence, misconduct or other wrongful or illegal use of the Service. k. Privacy and Sharing and Use of Information. The information we obtain from you in connection with the Service may be confidential. We will maintain the confidentiality of such information in accordance with our normal procedures for safeguarding information regarding our customers and our Privacy Policy found elsewhere in this Manual. l. Special Rights Regarding “Remittance Transfers.” The Consumer Financial Protection Bureau’s Regulation E governs certain outgoing electronic international transactions initiated by consumers that are defined as “remittance transfers.” Included within the definition of a remittance transfer are wire transfers of funds from any of your consumer deposit or Money Market Deposit Accounts to third parties who are located, or whose accounts are located, in foreign countries. This means that when you request a remittance transfer: (1) You will receive specific disclosures about the details of the requested transfer before we will complete the transfer. (2) You have certain cancellation and refund rights in connection with the transfer if you change your mind within 30 minutes after making payment and the funds have not already been picked up or deposited into the recipient’s account. These rights are briefly summarized below. (3) You have certain rights if you suspect an error or problem with a remittance transfer. These rights are briefly summarized below. (4) We will send you a notice that we debited your account and you paid for the transfer. (5) Certain provisions of this Manual, which limit our liability to you or make you responsible for losses in various circumstances, do not apply and our or your liability or responsibility is instead governed by the Regulation E remittance transfer rules. Among other things, those rules provide that if you give us the incorrect account number or recipient institution identifier, you could lose the transfer amount. (6) There may also be other provisions of this Manual, that are inconsistent with certain rights or responsibilities of you or us under the Regulation E remittance transfer rules. In the event of any such inconsistency, Regulation E will control and this Manual, will be deemed modified so as to be consistent with the remittance transfer rules, without affecting the validity of any other provisions of the Manual. What to do if you want to cancel a remittance transfer: You have the right to cancel a remittance transfer and obtain a refund of all funds paid to us, including any fees. To cancel, you must contact us: by telephone at (212)-521-3234; by email at cancelremit.nyb@statebank.com or in person at the Bank within 30 minutes of making payment for the transfer. If you have initiated the remittance through new “YONO US Portal”, you can use the Cancellation facility within 30 minutes of creation of transaction to self-cancel the transfer. When you contact us, you must provide us with information to help us identify the transfer you wish to cancel, including your name, address and telephone number, the amount and location where the funds were to be sent and any identification number we have provided for you in connection with the transfer. We will refund your money within three business days of your request to cancel a transfer, as long as the funds have not already been picked up or deposited into the recipient’s
State Bank of India New York Customer Manual for Deposits 22 The Bank also reserves the right to close your accounts without any prior notice for any reason in the Bank’s sole discretion. The Bank will mail you a check for the balance in the accounts. The Bank may give you notice before taking this step, although we are not obliged to do so. We also reserve the right to close your account if your account has a NIL balance for more than three (3) months. Payment of interest on your account (if your account is interest-bearing) will cease from the date of closure of the account. Checking and Money Market Deposit Accounts cannot be negotiated or transferred to another individual or corporation or entity. o. Bank’s Liability: If the Bank does not complete a transfer to or from your account in time or for the correct amount as per your agreement with us, we will be liable for your direct losses or damages but not any indirect costs or punitive costs or damages. However, the Bank will not be liable in circumstances such as:  The funds in your account are not sufficient to affect the transfer  The automated teller machine where you were making the transfer has a communication failure.  The automated teller machine did not have enough cash  If circumstances beyond our control prevent the transfer.  If we are unable to confirm the transaction with you (if required)  Any other exceptions stated in our agreement with you.
State Bank of India New York Customer Manual for Deposits 54 k) Under no circumstances shall the Bank be liable for any damages, whatsoever whether such damages are direct, indirect, incidental, consequential and irrespective of whether any claim is based on loss of revenue, investment, production, goodwill, profit, interruption of business or any other loss of any character of nature whatsoever and whether sustained by the Card Holder or any other third party. 15. Changes in Terms: The Bank may amend this Supplement from time to time in accordance with the changes provided in the Customer Manual. 16. Termination: The Bank reserves the right to cancel or withdraw the Card or any of the other services offered at any time without assigning any reason. a) If the Card Holder closes the Account, the Card(s) issued with the Account will be void. The Card Holder(s) must immediately cease to use the Card and destroy all additional Cards. If there are outstanding Transactions pending to the Account, the same will be netted out from the balance prior to the Bank returning the funds to the Card Holder. If the Account is closed, due to any reason whatsoever, prior to debit of any outstanding Card Transactions, Card Holder is liable to refund the amount along with the interest and charges applicable from time to time.
State Bank of India New York Customer Manual for Deposits 41 We may send the wire through such correspondents as appear appropriate to us in our sole discretion and we shall not be liable for their neglect or negligence. We are not under any obligation to detect errors or inconsistencies in any of your instructions. We will not be liable for any losses caused by errors or inaccuracies in your instructions. We will have the right, in our sole discretion, to reject any instructions, to set exposure limits on the amounts you may wire and impose additional conditions that must be satisfied before we will accept any instructions. i. Limits on Remittances. You will provide a statement of the purpose of the remittance. You may not transfer more than our specified maximum dollar limit in any single day. We may change any of the foregoing limits in our discretion at any time. Remittances may not be sent by us through or into any country in violation of U.S. laws. We will charge to and debit from the account identified in the instruction the amount of money specified in the instruction to be paid to the beneficiary designated therein and all fees and any costs and expenses. You must verify, prior to issuing an instruction for us to initiate a remittance, that funds are available in your account for us to initiate the remittance. If there are insufficient funds, we may, in our sole discretion: (i) execute the transaction, in which event, immediately upon our demand, you will pay to us all amounts sent and all fees and costs and expenses associated with the transfer; (ii) delay the remittance; or (iii) cancel the instruction and not complete the remittance. We will not have any liability to you or any other person for losses incurred by you or any other person when a remittance is not completed because there are not sufficient funds available. j. Limits on Liability and Indemnification. EXCEPT AS PROVIDED IN EXPRESS TERMS TO THE CONTRARY IN THIS MANUAL, THE SERVICE IS PROVIDED ON AN “AS IS”, “AS AVAILABLE” BASIS. WE MAKE NO WARRANTY, EXPRESS OR IMPLIED, TO YOU OR ANY OTHER PERSON REGARDING THE SERVICE, INCLUDING ANY WARRANTY OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE OR NONINFRINGEMENT. Subject to the limitations on our liability set forth in this Agreement, we will have liability to you for any losses you suffer or incur as a direct result of a material breach of this Agreement by us or as a direct result of our gross negligence or intentional misconduct in performing or failing to perform the Service. Our liability will be limited, however, as follows: (i) for delays in payment, our total liability to you or any person, including the beneficiary, will be limited to payment of interest for the period of delay; (ii) for non-completion of the instructions, our total liability to any person, including you, will be limited to reimbursement to such person of his or her actual out-of-pocket expenses in the funds transfer, and any actual out-of-pocket incidental expenses and interest losses; and (iii) for any other cause, the aggregate amount of the fees and charges paid by you to us for the Service during the prior 6 months. We will not be liable to you or any other person for, and you release us from liability with respect to (i) any indirect, consequential, special, incidental, exemplary or punitive damages, including loss of profits, loss of business or loss of data; or (ii) attorneys’ fees or fees of other professionals. You will fully indemnify us and hold us harmless, from and against all losses we may suffer or

Test Case

Question: What is the purpose of the Remittance Transfer section in the Customer Manual?

Metric Baseline Score Current Score
answer_accuracy 0.86824020 0.86052195 (-0.00771825)
groundedness 0.85961540 0.89691210 (+0.03729670)
mean_answer_similarity 0.87715357 0.89230544 (+0.01515187)
mean_reciprocal_rank 1.00000000 1.00000000
min_answer_similarity 0.77919782 0.86052195 (+0.08132413)
model_failures 0.00000000 0.00000000
model_generation_failures 0.00000000 0.00000000
model_parse_failures 0.00000000 0.00000000
model_passes 1.00000000 1.00000000
model_retrieval_failures 0.00000000 0.00000000
precision_relevancy 0.87315956 0.87588202 (+0.00272246)
recall_relevancy 0.92257288 0.92257288
rouge_1 0.10762332 0.11594203 (+0.00831871)
rouge_2 0.05429864 0.04878049 (-0.00551815)
rouge_l 0.08968610 0.08695652 (-0.00272958)

Legend:

  • Metric : The evaluation metric name. Shown in bold red if the metric flipped between pass/fail status.
  • Baseline Score : The metric value for the baseline model. Shown in bold green if baseline won, red if lost.
  • Current Score : The metric value for the current model, followed by the delta from baseline in parentheses.
  • Delta Colors : Green = improvement, Orange = regression, Red = metric flipped to fail.
  • Winner Determination : For each metric, the winner is determined by comparing scores while considering the metric's directionality (higher is better vs. lower is better).
Baseline Result Current Result
Model claude-3-7-sonnet-20250219@h2ogpte claude-3-7-sonnet-20250219@h2ogpte
Question What is the purpose of the Remittance Transfer section in the Customer Manual?
Expected answer To provide information to customers about the bank's remittance transfer services
Actual Answer According to the document, the Remittance Transfer section in the Customer Manual serves multiple purposes: 1. To explain the various remittance services offered by State Bank of India New York, including: - Funds transfer services to India (in both US dollars and Indian rupees) - Transfer of funds to other banks in the US through CHIPS or Fedwire - Transfer of funds to other countries through correspondent banks 2. To outline the procedures for using remittance services, including: - How to apply for remittances (through Internet Banking or prescribed application forms) - The fees associated with remittance services - Limits on remittance amounts 3. To inform customers about their rights and responsibilities regarding remittances, particularly: - Cancellation rights (within 30 minutes of payment) - Error resolution procedures (within 180 days) - The bank's liability limitations - Special rights regarding "Remittance Transfers" under Consumer Financial Protection Bureau's Regulation E 4. To provide important disclosures about exchange rates, processing times, and potential issues that may arise during remittance transfers. 5. To explain the bank's policies regarding incorrect information provided by customers and the potential consequences. The section serves as a comprehensive guide to help customers understand how to use remittance services effectively while being aware of their rights, the bank's policies, and the regulatory framework governing international money transfers. According to the document, the Remittance Transfer section in the Customer Manual serves multiple purposes: 1. To explain the various remittance services offered by State Bank of India New York, including: - Funds transfer services to India (in both US dollars and Indian rupees) - Transfer of funds to other banks in the US through CHIPS or Fedwire - Transfer of funds to other countries through correspondents 2. To outline the procedures for initiating remittances, including: - How to apply for a remittance (through Internet Banking or prescribed application forms) - The limits on remittances and requirements for sufficient funds - The fees and charges associated with remittance services 3. To inform customers about their rights regarding "remittance transfers" under Regulation E, including: - Right to receive specific disclosures before transfer completion - Cancellation and refund rights within 30 minutes of payment - Error resolution procedures and timelines - The process for reporting problems with remittance transfers 4. To explain the bank's policies regarding: - Currency conversion rates - Liability limitations - Privacy and information sharing - Handling of incorrect account information The section also provides contact information for reporting errors or problems with remittance transfers and explains the bank's responsibilities in investigating and resolving such issues.
Retrieved Context
State Bank of India New York Customer Manual for Deposits 12 month, accrued interest will be credited and paid. Accrued interest will be credited to your account prior to closing the same. c. Compounding Method: Your Money Market Deposit Account earn simple interest on a 360 days’ basis which accrues daily based on the end-of-the-day balance. The daily balance method will be used to calculate the interest on the account. This method applies a daily periodic rate to the principal in the account each day. Although interest accrues daily, you may not withdraw the earnings until the first business day of the following calendar month, when the same is credited into the account, provided the account is not closed. If not withdrawn, interest is added to and becomes part of the account balance. Since interest is added to your total account balance, any credited interest in the account is, effectively, compounded monthly. d. Annual Percentage Yield: The annual percentage yield earned (APYE) for the statement period will be advised with each monthly statement account. e. Withdrawals: A maximum of 6 transfers or withdrawals, or a combination of such transfers or withdrawals, are permitted during a calendar month or statement cycle of at least four weeks. For the purpose of this limit, preauthorized, automatic transfers (including but not limited to transfer from savings deposit for overdraft protection or for direct bill payments) and transfers and withdrawals initiated by telephone, facsimile, or computer and transfers made by check, debit card or other similar order made by the depositor and payable to third parties is included.
State Bank of India New York Customer Manual for Deposits 40 from time to time. Our decision to approve your request to use the Service is within our sole discretion. Your rights in using the Service are governed by the terms set forth in this Manual and by any receipt or disclosures you receive at the time that you arrange for a remittance transfer. f. Fees. You will be assessed fees and other charges associated with the Service as detailed in the “Schedule of Fees & Charges” in this Manual. We reserve the right to change from time to time our fees and other charges. Our fees and charges will also be disclosed in the documentation you receive at the time that you arrange for a remittance transfer. g. Cancellation, Amendment and Termination. We may suspend or cancel the Service in our sole discretion. We may also limit or restrict your use of the Service, as provided below, in our sole discretion. If you wish to cancel a remittance more than 30 minutes after you have paid us, we will endeavor to do so if possible. Likewise, if you wish to amend an instruction that you have given us more than 30 minutes after you have paid us, we will endeavor to do so if possible. You may be charged a fee for such cancellations or amendments. h. Instructions. It is your responsibility to ensure that we are provided with accurate, clear, and correct instructions regarding your remittances. In case the remitter provides incorrect beneficiary account details or the remittance is returned by beneficiary bank for any reason, the remittance may be recalled by the branch and the amount so recalled would be converted at prevalent (INR-USD) purchase rate. We may refuse to accept instructions from anyone other than you in our sole discretion. We may also refuse to execute any remittance requests which are incomplete. You will strictly adhere to the security procedures applicable from time to time to the Service. Bank reserves the right to ask for any additional documents before/after processing the remittance. For remittances to NGOs/charitable purpose, the customer will have to provide the copy of updated FCRA (Foreign Contribution Regulation Act) certificate. The Bank reserves the right to not process the remittance if the FCRA (Foreign Contribution Regulation Act) number is not valid based on confirmation from Ministry of Home Affairs website of Government of India. All the remittance requests received at the SBI New York are subject to approval of our internal Compliance department. We may seek any additional information regarding the remittance like purpose of transactions, specific details about beneficiary etc. before executing the remittance. We may refuse to execute the remittance if the additional information sought is not provided by the remitter. If the beneficiary’s account number that you provide does not correspond to the name of the beneficiary that you provide, we will not be liable for losses resulting from the beneficiary’s financial institution paying the wrong person or does not accept the wire or places the funds in a suspense account pending clarification. We will not be liable to you or any other person for any losses resulting from the beneficiary’s financial institution accepting and posting any wire transfer to an incorrect account. We will also not be liable to you or the beneficiary of the wire or any other person for any fees that may be deducted by the beneficiary’s financial institution. We will not be liable for losses resulting from your failure to properly identify the financial institution where the beneficiary maintains an account.
State Bank of India New York Customer Manual for Deposits 39 a. Funds Transfer Services to India Remittances can be sent both in US dollars and in Indian rupees, at your option. At What Rate Are Dollars Converted to Rupees? For remittances in Rupees, the conversion of US dollars into rupees will be done at the rate determined by SBI New York on the day and time of the conversion. For remittances in US dollars to India the funds will be converted into Rupees based on the laws and banking practice prevailing in India. Modes of Transfer of Funds Remittances can be sent through Wire transfer. Please note that Wire transfers in dollars can be sent only to those authorized branches of Banks where SWIFT facilities are available. While all efforts will be made to ensure timely delivery of funds to the beneficiaries, the Bank shall not be under any liability for any errors, negligence, default or any failure on the part of the remitting customer in furnishing vital information for good delivery of the funds. Please read the Terms and Conditions for the remittance mentioned on the remittance forms. b. Transfer of Funds to Other Banks in the U.S. Funds can be transferred to other banks in the U.S. through CHIPS or Fedwire, as we are members of both of these systems. Our ABA routing number is 0260-0914-0 and CHIPS UID is 034282. c. Transfer of Funds to Other Countries We can also transfer your funds to accounts in banks in foreign countries other than India through our correspondents. You may advise us the intermediary bank of your beneficiary’s Bank, wherever required. We can also quote firm exchange rates and effect remittances through our correspondents, in the following currencies: GBP, EUR, CAD, JPY, CHF, AUD, NPR, LKR, BDT Remittances in other currencies can be offered depending upon the volume of business and availability of correspondent relationship in that currency. d. How to Apply for a Remittance Request for remittance services mentioned in a, b, c above should be made through Internet Banking (online and offline) through our website (https://sbinewyork.statebank) or by submission of our prescribed application form. The remittance application form is available on our website https://sbinewyork.statebank. Individual customers can submit the form alongwith a copy of valid photo ID over the counter at the Branch or mail the set to the Branch. The Bank will not accept remittance form through fax or e-mail for individual customers. See “Schedule of Fees & Charges” in this Manual for applicable charges. e. Use of the Remittance Service (the “Service”) The Service is available for use only by individuals and corporate customers who are account holders at the Bank. The Service will permit you to issue non-repetitive orders for us to transfer funds from your account to accounts at other domestic or international financial institutions, in amounts up to any daily limits or individual customer limits which we may establish and change in our discretion
State Bank of India New York Customer Manual for Deposits 42 otherwise incur on account of our provision of the Service to you and caused by your breach of our agreement or by your negligence, misconduct or other wrongful or illegal use of the Service. k. Privacy and Sharing and Use of Information. The information we obtain from you in connection with the Service may be confidential. We will maintain the confidentiality of such information in accordance with our normal procedures for safeguarding information regarding our customers and our Privacy Policy found elsewhere in this Manual. l. Special Rights Regarding “Remittance Transfers.” The Consumer Financial Protection Bureau’s Regulation E governs certain outgoing electronic international transactions initiated by consumers that are defined as “remittance transfers.” Included within the definition of a remittance transfer are wire transfers of funds from any of your consumer deposit or Money Market Deposit Accounts to third parties who are located, or whose accounts are located, in foreign countries. This means that when you request a remittance transfer: (1) You will receive specific disclosures about the details of the requested transfer before we will complete the transfer. (2) You have certain cancellation and refund rights in connection with the transfer if you change your mind within 30 minutes after making payment and the funds have not already been picked up or deposited into the recipient’s account. These rights are briefly summarized below. (3) You have certain rights if you suspect an error or problem with a remittance transfer. These rights are briefly summarized below. (4) We will send you a notice that we debited your account and you paid for the transfer. (5) Certain provisions of this Manual, which limit our liability to you or make you responsible for losses in various circumstances, do not apply and our or your liability or responsibility is instead governed by the Regulation E remittance transfer rules. Among other things, those rules provide that if you give us the incorrect account number or recipient institution identifier, you could lose the transfer amount. (6) There may also be other provisions of this Manual, that are inconsistent with certain rights or responsibilities of you or us under the Regulation E remittance transfer rules. In the event of any such inconsistency, Regulation E will control and this Manual, will be deemed modified so as to be consistent with the remittance transfer rules, without affecting the validity of any other provisions of the Manual. What to do if you want to cancel a remittance transfer: You have the right to cancel a remittance transfer and obtain a refund of all funds paid to us, including any fees. To cancel, you must contact us: by telephone at (212)-521-3234; by email at cancelremit.nyb@statebank.com or in person at the Bank within 30 minutes of making payment for the transfer. If you have initiated the remittance through new “YONO US Portal”, you can use the Cancellation facility within 30 minutes of creation of transaction to self-cancel the transfer. When you contact us, you must provide us with information to help us identify the transfer you wish to cancel, including your name, address and telephone number, the amount and location where the funds were to be sent and any identification number we have provided for you in connection with the transfer. We will refund your money within three business days of your request to cancel a transfer, as long as the funds have not already been picked up or deposited into the recipient’s
State Bank of India New York Customer Manual for Deposits 41 We may send the wire through such correspondents as appear appropriate to us in our sole discretion and we shall not be liable for their neglect or negligence. We are not under any obligation to detect errors or inconsistencies in any of your instructions. We will not be liable for any losses caused by errors or inaccuracies in your instructions. We will have the right, in our sole discretion, to reject any instructions, to set exposure limits on the amounts you may wire and impose additional conditions that must be satisfied before we will accept any instructions. i. Limits on Remittances. You will provide a statement of the purpose of the remittance. You may not transfer more than our specified maximum dollar limit in any single day. We may change any of the foregoing limits in our discretion at any time. Remittances may not be sent by us through or into any country in violation of U.S. laws. We will charge to and debit from the account identified in the instruction the amount of money specified in the instruction to be paid to the beneficiary designated therein and all fees and any costs and expenses. You must verify, prior to issuing an instruction for us to initiate a remittance, that funds are available in your account for us to initiate the remittance. If there are insufficient funds, we may, in our sole discretion: (i) execute the transaction, in which event, immediately upon our demand, you will pay to us all amounts sent and all fees and costs and expenses associated with the transfer; (ii) delay the remittance; or (iii) cancel the instruction and not complete the remittance. We will not have any liability to you or any other person for losses incurred by you or any other person when a remittance is not completed because there are not sufficient funds available. j. Limits on Liability and Indemnification. EXCEPT AS PROVIDED IN EXPRESS TERMS TO THE CONTRARY IN THIS MANUAL, THE SERVICE IS PROVIDED ON AN “AS IS”, “AS AVAILABLE” BASIS. WE MAKE NO WARRANTY, EXPRESS OR IMPLIED, TO YOU OR ANY OTHER PERSON REGARDING THE SERVICE, INCLUDING ANY WARRANTY OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE OR NONINFRINGEMENT. Subject to the limitations on our liability set forth in this Agreement, we will have liability to you for any losses you suffer or incur as a direct result of a material breach of this Agreement by us or as a direct result of our gross negligence or intentional misconduct in performing or failing to perform the Service. Our liability will be limited, however, as follows: (i) for delays in payment, our total liability to you or any person, including the beneficiary, will be limited to payment of interest for the period of delay; (ii) for non-completion of the instructions, our total liability to any person, including you, will be limited to reimbursement to such person of his or her actual out-of-pocket expenses in the funds transfer, and any actual out-of-pocket incidental expenses and interest losses; and (iii) for any other cause, the aggregate amount of the fees and charges paid by you to us for the Service during the prior 6 months. We will not be liable to you or any other person for, and you release us from liability with respect to (i) any indirect, consequential, special, incidental, exemplary or punitive damages, including loss of profits, loss of business or loss of data; or (ii) attorneys’ fees or fees of other professionals. You will fully indemnify us and hold us harmless, from and against all losses we may suffer or
State Bank of India New York Customer Manual for Deposits 44 decide not to agree to the terms and conditions discussed therein, you may not use Internet Banking. The Online Banking Terms of Service govern Internet Banking and supersede any inconsistent agreements or requirements. However, the terms of this Manual will govern and supersede any inconsistent statements contained in the Online Banking Terms of Service with regard to the (i) types of accounts that you may have with the Bank and the terms of those accounts; (ii) Bank’s rules governing wire transfers or international remittances including our liability to you and how we will inform you about the costs and fees and exchange rates for remittances and your ability to stop the remittance; (iii) Bank’s privacy and sharing of information policies and (iv) governing law of our agreement. Note: The customer is required to give full name (no initials) while creating recipient for the purpose of sending remittances. Thank You IMPORTANT If there is a conflict between the information stated in any Bank agreement or brochure/Manual (including this one) and something said by one of our employees, the written information will be used to resolve the conflict. The Bank may refuse to follow any instructions it believes is not permitted under law or regulation. The Manual is governed by and shall be interpreted under the laws of the State of New York. Any litigation shall be filed and heard only in the federal or state courts located in New York. State Bank of India reserves the right to change the Manual as required by law or Bank policy. Such changes may be displayed on the notice board in the Bank, posted on the website (https://sbinewyork.statebank) or advised to customers by mail. If you have any questions regarding the information provided in the Manual or your account relationship, you may contact us by mail by writing to the following address: State Bank of India DRS Department 460 Park Avenue New York Branch, NY 10022 U.S.A. Tel : General: (212)521-3200
State Bank of India New York Customer Manual for Deposits 43 account. What to do if you think there has been an error or problem with a remittance transfer: (1) Call us at 212-521-3234; or email at remiterror.nyb@statebank.com (2) Write to us at Remittance Section, State Bank of India, 460 Park Avenue, New York, NY-10022, USA. You must contact us within 180 days of the date we promised that the funds would be made available to the recipient. When you do, please tell us: (1) Your name and telephone number or address; (2) The error or problem with the transfer, and why you believe it is an error or problem; (3) The name of the person receiving the funds, and if you know it, his or her telephone number or address; (4) The dollar amount of the transfer; and (5) The confirmation code or number of the transaction. We will determine whether an error occurred within 90 days after you contact us, and we will correct any error promptly. We will tell you the results within three business days after completing our investigation. If we decide that there was no error, we will send you a written explanation. You may ask for copies of any documents we used in our investigation. 11. Internet Banking/ YONO US Portal: a. Internet Services This section of the Manual describes your use of the Bank’s Online Internet-based Banking Service (“Internet Banking”). By using the new Internet Banking, you may:  Open an account (Currently, this facility is not available)  Obtain account balance and other banking information  Transfer funds between own accounts  Transfer funds to other Banks within USA through Wire Transfers*  Transfer INR to India*  Transfer USD to any Bank outside USA too*  Send secure messages to the Bank  Order new checks / Stop Checks*  Uploading documents as attachment through Secure Message Platform  Pull fund from own accounts with other U.S. banks *Charges may apply b. Internet Banking Terms of Service You may enroll in our new Internet Banking at our website at https://sbinewyork.statebank/online- banking . Once you enroll on the new portal, you will have access to your account information for viewing purposes only. In order to obtain transaction rights in online banking mode, you must apply for Transaction Rights under “Requests/Services” Tab. The request shall be approved by the Bank upon receipt. During the enrollment process you will be presented with a copy of the Bank’s Online Banking Terms of Service. The Online Banking Terms of Service governs your use of the SBI Online Banking Services. Use of Internet Banking is expressly conditioned on your acceptance of these Online Banking Terms of Service. By using the Internet Banking, you acknowledge that you have read and agree to abide by the terms and conditions of these Online Banking Terms of Service. If you
State Bank of India New York Customer Manual for Deposits 31 individuals who are members of the general public and reside in California. Accordingly, under Section 4052(f) of the California Financial Code, the Los Angeles branch does not do business with “consumers” as defined under California law and is not subject to the California Financial Information Privacy Act. Both New York and California have laws that require SBI-US to notify you in the event that unauthorized persons obtain your personal and private information maintained on our computer system. SBI-US has procedures in place to ensure that you receive such notice in the proper circumstances. SBI-US reserves the right to change the Privacy Policy at any time, but if we do so, we will notify you in a reasonable time when any change is implemented. We will also notify you annually as required by federal law. 8. FUNDS AVAILABILITY: An understanding of funds availability will help you to manage your money more easily and avoid the inconvenience of a returned check or a withdrawal request that cannot be honored. Our policy is to make funds you deposit into your SBI account(s) available for withdrawal based upon the type of deposit or check. The funds are made available within the period of time specified by federal regulations. a. How Can You Tell When Your Deposit Will Be Available? You can use the chart in this Manual to tell when your deposit will be available. To use this chart, first read the following questions and answers. b. What is the Day of Deposit? For determining the availability of your deposits, every day is a business day except Saturdays, Sundays, and Federal holidays. If you make a deposit before 4:00 pm (cash services available until 3:00 pm EST) on a business day that we are open, we will consider that day to be the day of your deposit. If you make a deposit after that time, we will consider that the deposit was made on the next business day that we are open. c. Are You a New SBI Customer? If you have been banking with SBI for 30 days or less, you are considered a new customer and special rules apply to you regarding funds availability. d. What is the Type of Deposit? The hold period or the number of days applicable for making available the funds depends on the type of deposit you make (such as a check drawn on the Bank, a check drawn on another bank/branch, or cashier’s check). e. What Items are Available on the Same Day? Cash deposits made up to 3:00 pm and checks drawn on any US offices of the Bank and Official, Certified, Cashier's and Teller's checks will be made available on the day of the deposit into the account.
State Bank of India New York Customer Manual for Deposits 55 (1) Tell us your name and account number (if any). (2) Describe the error or the transfer you are unsure about and explain as clearly as you can why you believe it is an error or why you need more information. (3) Tell us the dollar amount of the suspected error. If you inform us orally, we require that you send us your complaint or question in writing within 10 business days. We will determine whether an error occurred within 10 business days after we hear from you and will correct any error promptly. If we need more time, however, we may take up to 45 days to investigate your complaint or question. If we decide to do this, we will credit your account within 10 business days for the amount you think is in error, so that you will have the use of the money during the time it takes us to complete our investigation. If we ask you to put your complaint or question in writing and we do not receive it within 10 business days, we may not credit your account. For errors involving new accounts, point-of-sale, or foreign-initiated transactions, we may take up to 90 days to investigate your complaint or question. For new accounts, we may take up to 20 business days to credit your account for the amount you think is in error. We will tell you the results within three business days after completing our investigation. If we decide that there was no error, we will send you a written explanation. You may ask for copies of the documents that we used in our investigation. (b) Error resolution notice on periodic statements. In Case of Errors or Questions About Your Electronic Transfers telephone or write to us at the following address: State Bank of India Deposit Section 460 Park Avenue, New York, N.Y 10022 Tel: (212)521-3342/3318 as soon as you can, if you think your statement or receipt is wrong or if you need more information about a transfer on the statement or receipt. We must hear from you no later than 60 days after we sent you the FIRST statement on which the error or problem appeared. (1) Tell us your name and account number (if any). (2) Describe the error or the transfer you are unsure about and explain as clearly as you can why you believe it is an error or why you need more information. (3) Tell us the dollar amount of the suspected error. We will investigate your complaint and will correct any error promptly. If we take more than 10 business days to do this, we will credit your account for the amount you think is in error, so that you will have the use of the money during the time it takes us to complete our investigation. 10. Business Days: The Bank’s business days are Monday through Friday, 9:00 a.m. to 4:00 p.m ET (cash services available up to 3:00 pm ET only) not including bank legal holidays. 11.Disclosure of Account Information to Third Parties: We will disclose information to third parties about your account or the transfers you make: (i) Where it is necessary for completing transfers, or (ii) In order to verify the existence and condition of your account for a third party, such as a credit bureau or merchant, or (iii) In order to comply with government agency or court orders, or (iv) as described in our privacy policy included in this agreement.
State Bank of India New York Customer Manual for Deposits 4 CONTENTS 1 State Bank of India New York Contact Information 5 2 Establishing a Relationship 6 3 Categories of Customer Accounts 7 4 Accounts of Businesses 8 5 Types of Accounts 9 6 Checking Account 9 7 Money Market Deposit Account 11 8 Certificate of Deposit 13 9 Senior Citizen Certificate of Deposit 15 10 Operations in Checking and Money Market Deposit Accounts 16 11 Mode of transactions/document submission 22 12 Important Information about Substitute Check and your rights 24 13 Additional Information on deposit Accounts 25 14 Banking Terminology 27 15 Privacy Notice 28 16 Funds Availability 31 17 Electronic Fund Transfers 34 18 Remittances 38 19 Internet Banking / YONO US Portal 43 20 Schedule of Fees and Charges 45 21 Debit Card Agreement (Annexure B) 48
State Bank of India New York Customer Manual for Deposits IRS, etc.) Printing and mailing of checks. First check book of up-to 50 leaves free thereafter the actual cost charged by the supplier Actual cost charged by the supplier Replacement/reimbursement fee for stop payments on official and certified checks $15 $15 Collection of checks, draft or other instruments drawn on banks outside the USA. $50 $50 Uncollected deposit items (checks/drafts negotiated through us which are drawn on other banks and are returned unpaid) $50 $50 Balance confirmation certificate $5 $5 For any other account information sought by the customer. Charges per instance per document: - For current calendar year - For previous calendar year - For all other years (up to 5 previous years) $ 5 $ 10 $ 15 $ 5 $ 10 $ 15 C. REMITTANCE FEES Rupee remittances Wire Transfer (Initiated through Online Banking) FREE* Rupee remittances –Wire Transfer (Other than Initiated through Online Banking) Up to US Dollar 999 or equivalent US Dollar 1000 or above $5 Free $5 Free Wire transfer in U.S. dollars to Any Bank $25 (For both Online on YONO and offline at Branch) $25 Wire transfer in currencies other than USD and INR For less than $2,500.00 $2,500.00 and above $35 Free $35 Free Cancellation of or issue of duplicate draft/refund of funds for lost draft. (In $25* $25*
State Bank of India New York Customer Manual for Deposits 12 month, accrued interest will be credited and paid. Accrued interest will be credited to your account prior to closing the same. c. Compounding Method: Your Money Market Deposit Account earn simple interest on a 360 days’ basis which accrues daily based on the end-of-the-day balance. The daily balance method will be used to calculate the interest on the account. This method applies a daily periodic rate to the principal in the account each day. Although interest accrues daily, you may not withdraw the earnings until the first business day of the following calendar month, when the same is credited into the account, provided the account is not closed. If not withdrawn, interest is added to and becomes part of the account balance. Since interest is added to your total account balance, any credited interest in the account is, effectively, compounded monthly. d. Annual Percentage Yield: The annual percentage yield earned (APYE) for the statement period will be advised with each monthly statement account. e. Withdrawals: A maximum of 6 transfers or withdrawals, or a combination of such transfers or withdrawals, are permitted during a calendar month or statement cycle of at least four weeks. For the purpose of this limit, preauthorized, automatic transfers (including but not limited to transfer from savings deposit for overdraft protection or for direct bill payments) and transfers and withdrawals initiated by telephone, facsimile, or computer and transfers made by check, debit card or other similar order made by the depositor and payable to third parties is included.
State Bank of India New York Customer Manual for Deposits 43 account. What to do if you think there has been an error or problem with a remittance transfer: (1) Call us at 212-521-3234; or email at remiterror.nyb@statebank.com (2) Write to us at Remittance Section, State Bank of India, 460 Park Avenue, New York, NY-10022, USA. You must contact us within 180 days of the date we promised that the funds would be made available to the recipient. When you do, please tell us: (1) Your name and telephone number or address; (2) The error or problem with the transfer, and why you believe it is an error or problem; (3) The name of the person receiving the funds, and if you know it, his or her telephone number or address; (4) The dollar amount of the transfer; and (5) The confirmation code or number of the transaction. We will determine whether an error occurred within 90 days after you contact us, and we will correct any error promptly. We will tell you the results within three business days after completing our investigation. If we decide that there was no error, we will send you a written explanation. You may ask for copies of any documents we used in our investigation. 11. Internet Banking/ YONO US Portal: a. Internet Services This section of the Manual describes your use of the Bank’s Online Internet-based Banking Service (“Internet Banking”). By using the new Internet Banking, you may:  Open an account (Currently, this facility is not available)  Obtain account balance and other banking information  Transfer funds between own accounts  Transfer funds to other Banks within USA through Wire Transfers*  Transfer INR to India*  Transfer USD to any Bank outside USA too*  Send secure messages to the Bank  Order new checks / Stop Checks*  Uploading documents as attachment through Secure Message Platform  Pull fund from own accounts with other U.S. banks *Charges may apply b. Internet Banking Terms of Service You may enroll in our new Internet Banking at our website at https://sbinewyork.statebank/online- banking . Once you enroll on the new portal, you will have access to your account information for viewing purposes only. In order to obtain transaction rights in online banking mode, you must apply for Transaction Rights under “Requests/Services” Tab. The request shall be approved by the Bank upon receipt. During the enrollment process you will be presented with a copy of the Bank’s Online Banking Terms of Service. The Online Banking Terms of Service governs your use of the SBI Online Banking Services. Use of Internet Banking is expressly conditioned on your acceptance of these Online Banking Terms of Service. By using the Internet Banking, you acknowledge that you have read and agree to abide by the terms and conditions of these Online Banking Terms of Service. If you
State Bank of India New York Customer Manual for Deposits 39 a. Funds Transfer Services to India Remittances can be sent both in US dollars and in Indian rupees, at your option. At What Rate Are Dollars Converted to Rupees? For remittances in Rupees, the conversion of US dollars into rupees will be done at the rate determined by SBI New York on the day and time of the conversion. For remittances in US dollars to India the funds will be converted into Rupees based on the laws and banking practice prevailing in India. Modes of Transfer of Funds Remittances can be sent through Wire transfer. Please note that Wire transfers in dollars can be sent only to those authorized branches of Banks where SWIFT facilities are available. While all efforts will be made to ensure timely delivery of funds to the beneficiaries, the Bank shall not be under any liability for any errors, negligence, default or any failure on the part of the remitting customer in furnishing vital information for good delivery of the funds. Please read the Terms and Conditions for the remittance mentioned on the remittance forms. b. Transfer of Funds to Other Banks in the U.S. Funds can be transferred to other banks in the U.S. through CHIPS or Fedwire, as we are members of both of these systems. Our ABA routing number is 0260-0914-0 and CHIPS UID is 034282. c. Transfer of Funds to Other Countries We can also transfer your funds to accounts in banks in foreign countries other than India through our correspondents. You may advise us the intermediary bank of your beneficiary’s Bank, wherever required. We can also quote firm exchange rates and effect remittances through our correspondents, in the following currencies: GBP, EUR, CAD, JPY, CHF, AUD, NPR, LKR, BDT Remittances in other currencies can be offered depending upon the volume of business and availability of correspondent relationship in that currency. d. How to Apply for a Remittance Request for remittance services mentioned in a, b, c above should be made through Internet Banking (online and offline) through our website (https://sbinewyork.statebank) or by submission of our prescribed application form. The remittance application form is available on our website https://sbinewyork.statebank. Individual customers can submit the form alongwith a copy of valid photo ID over the counter at the Branch or mail the set to the Branch. The Bank will not accept remittance form through fax or e-mail for individual customers. See “Schedule of Fees & Charges” in this Manual for applicable charges. e. Use of the Remittance Service (the “Service”) The Service is available for use only by individuals and corporate customers who are account holders at the Bank. The Service will permit you to issue non-repetitive orders for us to transfer funds from your account to accounts at other domestic or international financial institutions, in amounts up to any daily limits or individual customer limits which we may establish and change in our discretion
State Bank of India New York Customer Manual for Deposits 42 otherwise incur on account of our provision of the Service to you and caused by your breach of our agreement or by your negligence, misconduct or other wrongful or illegal use of the Service. k. Privacy and Sharing and Use of Information. The information we obtain from you in connection with the Service may be confidential. We will maintain the confidentiality of such information in accordance with our normal procedures for safeguarding information regarding our customers and our Privacy Policy found elsewhere in this Manual. l. Special Rights Regarding “Remittance Transfers.” The Consumer Financial Protection Bureau’s Regulation E governs certain outgoing electronic international transactions initiated by consumers that are defined as “remittance transfers.” Included within the definition of a remittance transfer are wire transfers of funds from any of your consumer deposit or Money Market Deposit Accounts to third parties who are located, or whose accounts are located, in foreign countries. This means that when you request a remittance transfer: (1) You will receive specific disclosures about the details of the requested transfer before we will complete the transfer. (2) You have certain cancellation and refund rights in connection with the transfer if you change your mind within 30 minutes after making payment and the funds have not already been picked up or deposited into the recipient’s account. These rights are briefly summarized below. (3) You have certain rights if you suspect an error or problem with a remittance transfer. These rights are briefly summarized below. (4) We will send you a notice that we debited your account and you paid for the transfer. (5) Certain provisions of this Manual, which limit our liability to you or make you responsible for losses in various circumstances, do not apply and our or your liability or responsibility is instead governed by the Regulation E remittance transfer rules. Among other things, those rules provide that if you give us the incorrect account number or recipient institution identifier, you could lose the transfer amount. (6) There may also be other provisions of this Manual, that are inconsistent with certain rights or responsibilities of you or us under the Regulation E remittance transfer rules. In the event of any such inconsistency, Regulation E will control and this Manual, will be deemed modified so as to be consistent with the remittance transfer rules, without affecting the validity of any other provisions of the Manual. What to do if you want to cancel a remittance transfer: You have the right to cancel a remittance transfer and obtain a refund of all funds paid to us, including any fees. To cancel, you must contact us: by telephone at (212)-521-3234; by email at cancelremit.nyb@statebank.com or in person at the Bank within 30 minutes of making payment for the transfer. If you have initiated the remittance through new “YONO US Portal”, you can use the Cancellation facility within 30 minutes of creation of transaction to self-cancel the transfer. When you contact us, you must provide us with information to help us identify the transfer you wish to cancel, including your name, address and telephone number, the amount and location where the funds were to be sent and any identification number we have provided for you in connection with the transfer. We will refund your money within three business days of your request to cancel a transfer, as long as the funds have not already been picked up or deposited into the recipient’s
State Bank of India New York Customer Manual for Deposits 55 (1) Tell us your name and account number (if any). (2) Describe the error or the transfer you are unsure about and explain as clearly as you can why you believe it is an error or why you need more information. (3) Tell us the dollar amount of the suspected error. If you inform us orally, we require that you send us your complaint or question in writing within 10 business days. We will determine whether an error occurred within 10 business days after we hear from you and will correct any error promptly. If we need more time, however, we may take up to 45 days to investigate your complaint or question. If we decide to do this, we will credit your account within 10 business days for the amount you think is in error, so that you will have the use of the money during the time it takes us to complete our investigation. If we ask you to put your complaint or question in writing and we do not receive it within 10 business days, we may not credit your account. For errors involving new accounts, point-of-sale, or foreign-initiated transactions, we may take up to 90 days to investigate your complaint or question. For new accounts, we may take up to 20 business days to credit your account for the amount you think is in error. We will tell you the results within three business days after completing our investigation. If we decide that there was no error, we will send you a written explanation. You may ask for copies of the documents that we used in our investigation. (b) Error resolution notice on periodic statements. In Case of Errors or Questions About Your Electronic Transfers telephone or write to us at the following address: State Bank of India Deposit Section 460 Park Avenue, New York, N.Y 10022 Tel: (212)521-3342/3318 as soon as you can, if you think your statement or receipt is wrong or if you need more information about a transfer on the statement or receipt. We must hear from you no later than 60 days after we sent you the FIRST statement on which the error or problem appeared. (1) Tell us your name and account number (if any). (2) Describe the error or the transfer you are unsure about and explain as clearly as you can why you believe it is an error or why you need more information. (3) Tell us the dollar amount of the suspected error. We will investigate your complaint and will correct any error promptly. If we take more than 10 business days to do this, we will credit your account for the amount you think is in error, so that you will have the use of the money during the time it takes us to complete our investigation. 10. Business Days: The Bank’s business days are Monday through Friday, 9:00 a.m. to 4:00 p.m ET (cash services available up to 3:00 pm ET only) not including bank legal holidays. 11.Disclosure of Account Information to Third Parties: We will disclose information to third parties about your account or the transfers you make: (i) Where it is necessary for completing transfers, or (ii) In order to verify the existence and condition of your account for a third party, such as a credit bureau or merchant, or (iii) In order to comply with government agency or court orders, or (iv) as described in our privacy policy included in this agreement.
State Bank of India New York Customer Manual for Deposits 40 from time to time. Our decision to approve your request to use the Service is within our sole discretion. Your rights in using the Service are governed by the terms set forth in this Manual and by any receipt or disclosures you receive at the time that you arrange for a remittance transfer. f. Fees. You will be assessed fees and other charges associated with the Service as detailed in the “Schedule of Fees & Charges” in this Manual. We reserve the right to change from time to time our fees and other charges. Our fees and charges will also be disclosed in the documentation you receive at the time that you arrange for a remittance transfer. g. Cancellation, Amendment and Termination. We may suspend or cancel the Service in our sole discretion. We may also limit or restrict your use of the Service, as provided below, in our sole discretion. If you wish to cancel a remittance more than 30 minutes after you have paid us, we will endeavor to do so if possible. Likewise, if you wish to amend an instruction that you have given us more than 30 minutes after you have paid us, we will endeavor to do so if possible. You may be charged a fee for such cancellations or amendments. h. Instructions. It is your responsibility to ensure that we are provided with accurate, clear, and correct instructions regarding your remittances. In case the remitter provides incorrect beneficiary account details or the remittance is returned by beneficiary bank for any reason, the remittance may be recalled by the branch and the amount so recalled would be converted at prevalent (INR-USD) purchase rate. We may refuse to accept instructions from anyone other than you in our sole discretion. We may also refuse to execute any remittance requests which are incomplete. You will strictly adhere to the security procedures applicable from time to time to the Service. Bank reserves the right to ask for any additional documents before/after processing the remittance. For remittances to NGOs/charitable purpose, the customer will have to provide the copy of updated FCRA (Foreign Contribution Regulation Act) certificate. The Bank reserves the right to not process the remittance if the FCRA (Foreign Contribution Regulation Act) number is not valid based on confirmation from Ministry of Home Affairs website of Government of India. All the remittance requests received at the SBI New York are subject to approval of our internal Compliance department. We may seek any additional information regarding the remittance like purpose of transactions, specific details about beneficiary etc. before executing the remittance. We may refuse to execute the remittance if the additional information sought is not provided by the remitter. If the beneficiary’s account number that you provide does not correspond to the name of the beneficiary that you provide, we will not be liable for losses resulting from the beneficiary’s financial institution paying the wrong person or does not accept the wire or places the funds in a suspense account pending clarification. We will not be liable to you or any other person for any losses resulting from the beneficiary’s financial institution accepting and posting any wire transfer to an incorrect account. We will also not be liable to you or the beneficiary of the wire or any other person for any fees that may be deducted by the beneficiary’s financial institution. We will not be liable for losses resulting from your failure to properly identify the financial institution where the beneficiary maintains an account.
State Bank of India New York Customer Manual for Deposits 41 We may send the wire through such correspondents as appear appropriate to us in our sole discretion and we shall not be liable for their neglect or negligence. We are not under any obligation to detect errors or inconsistencies in any of your instructions. We will not be liable for any losses caused by errors or inaccuracies in your instructions. We will have the right, in our sole discretion, to reject any instructions, to set exposure limits on the amounts you may wire and impose additional conditions that must be satisfied before we will accept any instructions. i. Limits on Remittances. You will provide a statement of the purpose of the remittance. You may not transfer more than our specified maximum dollar limit in any single day. We may change any of the foregoing limits in our discretion at any time. Remittances may not be sent by us through or into any country in violation of U.S. laws. We will charge to and debit from the account identified in the instruction the amount of money specified in the instruction to be paid to the beneficiary designated therein and all fees and any costs and expenses. You must verify, prior to issuing an instruction for us to initiate a remittance, that funds are available in your account for us to initiate the remittance. If there are insufficient funds, we may, in our sole discretion: (i) execute the transaction, in which event, immediately upon our demand, you will pay to us all amounts sent and all fees and costs and expenses associated with the transfer; (ii) delay the remittance; or (iii) cancel the instruction and not complete the remittance. We will not have any liability to you or any other person for losses incurred by you or any other person when a remittance is not completed because there are not sufficient funds available. j. Limits on Liability and Indemnification. EXCEPT AS PROVIDED IN EXPRESS TERMS TO THE CONTRARY IN THIS MANUAL, THE SERVICE IS PROVIDED ON AN “AS IS”, “AS AVAILABLE” BASIS. WE MAKE NO WARRANTY, EXPRESS OR IMPLIED, TO YOU OR ANY OTHER PERSON REGARDING THE SERVICE, INCLUDING ANY WARRANTY OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE OR NONINFRINGEMENT. Subject to the limitations on our liability set forth in this Agreement, we will have liability to you for any losses you suffer or incur as a direct result of a material breach of this Agreement by us or as a direct result of our gross negligence or intentional misconduct in performing or failing to perform the Service. Our liability will be limited, however, as follows: (i) for delays in payment, our total liability to you or any person, including the beneficiary, will be limited to payment of interest for the period of delay; (ii) for non-completion of the instructions, our total liability to any person, including you, will be limited to reimbursement to such person of his or her actual out-of-pocket expenses in the funds transfer, and any actual out-of-pocket incidental expenses and interest losses; and (iii) for any other cause, the aggregate amount of the fees and charges paid by you to us for the Service during the prior 6 months. We will not be liable to you or any other person for, and you release us from liability with respect to (i) any indirect, consequential, special, incidental, exemplary or punitive damages, including loss of profits, loss of business or loss of data; or (ii) attorneys’ fees or fees of other professionals. You will fully indemnify us and hold us harmless, from and against all losses we may suffer or
State Bank of India New York Customer Manual for Deposits 44 decide not to agree to the terms and conditions discussed therein, you may not use Internet Banking. The Online Banking Terms of Service govern Internet Banking and supersede any inconsistent agreements or requirements. However, the terms of this Manual will govern and supersede any inconsistent statements contained in the Online Banking Terms of Service with regard to the (i) types of accounts that you may have with the Bank and the terms of those accounts; (ii) Bank’s rules governing wire transfers or international remittances including our liability to you and how we will inform you about the costs and fees and exchange rates for remittances and your ability to stop the remittance; (iii) Bank’s privacy and sharing of information policies and (iv) governing law of our agreement. Note: The customer is required to give full name (no initials) while creating recipient for the purpose of sending remittances. Thank You IMPORTANT If there is a conflict between the information stated in any Bank agreement or brochure/Manual (including this one) and something said by one of our employees, the written information will be used to resolve the conflict. The Bank may refuse to follow any instructions it believes is not permitted under law or regulation. The Manual is governed by and shall be interpreted under the laws of the State of New York. Any litigation shall be filed and heard only in the federal or state courts located in New York. State Bank of India reserves the right to change the Manual as required by law or Bank policy. Such changes may be displayed on the notice board in the Bank, posted on the website (https://sbinewyork.statebank) or advised to customers by mail. If you have any questions regarding the information provided in the Manual or your account relationship, you may contact us by mail by writing to the following address: State Bank of India DRS Department 460 Park Avenue New York Branch, NY 10022 U.S.A. Tel : General: (212)521-3200
State Bank of India New York Customer Manual for Deposits 56 and other applicable laws, may keep records or make reports of high-dollar transactions, suspicious activities, or foreign currency transactions, as necessary to comply with the law and to detect and prevent illegal activity. There are serious civil and criminal consequences to engaging in illegal financial transactions. 13. Limitation of Bank’s Liability: If we do not complete a transfer to or from your account on time or in the correct amount according to our agreement with you, we will be liable for your losses or damages as further described herein. However, there are some exceptions. We will not be liable, for instance: (1) If, through no fault of ours, you do not have enough money in your account to make the transfer. (2) If the transfer would go over the credit limit on your overdraft line. (3) If the automated teller machine where you are making the transfer does not have enough cash. (4) If the system was not working properly and you knew about the breakdown when you started the transfer. (5) If circumstances beyond our control (such as fire or flood) prevent the transfer, despite reasonable precautions that we have taken.

Test Case

Question: Is the interest on a Senior Citizen Certificate of Deposit paid along with the principal at the time of maturity?

Metric Baseline Score Current Score
answer_accuracy 0.86064805 0.82279868 (-0.03784937)
groundedness 0.88622010 0.86537395 (-0.02084615)
mean_answer_similarity 0.86072518 0.86592678 (+0.00520160)
mean_reciprocal_rank 1.00000000 1.00000000
min_answer_similarity 0.77840199 0.77840199
model_failures 1.00000000 1.00000000
model_generation_failures 1.00000000 1.00000000
model_parse_failures 0.00000000 0.00000000
model_passes 0.00000000 0.00000000
model_retrieval_failures 0.00000000 0.00000000
precision_relevancy 0.85898223 0.85372128 (-0.00526095)
recall_relevancy 0.88862109 0.88841369 (-0.00020740)
rouge_1 0.26315789 0.24844720 (-0.01471069)
rouge_2 0.24000000 0.22641509 (-0.01358491)
rouge_l 0.26315789 0.24844720 (-0.01471069)

Legend:

  • Metric : The evaluation metric name. Shown in bold red if the metric flipped between pass/fail status.
  • Baseline Score : The metric value for the baseline model. Shown in bold green if baseline won, red if lost.
  • Current Score : The metric value for the current model, followed by the delta from baseline in parentheses.
  • Delta Colors : Green = improvement, Orange = regression, Red = metric flipped to fail.
  • Winner Determination : For each metric, the winner is determined by comparing scores while considering the metric's directionality (higher is better vs. lower is better).
Baseline Result Current Result
Model claude-3-7-sonnet-20250219@h2ogpte claude-3-7-sonnet-20250219@h2ogpte
Question Is the interest on a Senior Citizen Certificate of Deposit paid along with the principal at the time of maturity?
Expected answer Yes, if you choose to receive compounded interest, interest will be paid along with the principal at the time of maturity.
Actual Answer According to the document, the interest on a Senior Citizen Certificate of Deposit can be paid in two ways, depending on the customer's choice: 1. If you choose to receive simple interest (non-cumulative) on your Senior Citizen CD, you may opt to withdraw the interest at monthly/quarterly/half-yearly intervals, as specified at the time of opening or renewing the CD. 2. If you choose to receive compounded interest on your Senior Citizen CD, interest will be compounded at quarterly intervals and will be paid along with the principal at the time of maturity. This information is found on page 15 of the "Customer Manual for Deposits" document, under section 4.3.1 about Senior Citizen Certificate of Deposit, specifically in part c. "Compounding Period/Payment of Interest." According to the document, the interest on a Senior Citizen Certificate of Deposit can be paid in two ways, depending on the customer's choice: 1. If you choose to receive simple interest (non-cumulative) on your CD, you may opt to withdraw the interest at monthly/quarterly/half-yearly intervals, at the time of opening or renewing the CD. 2. If you choose to receive compounded interest on your CD, interest will be compounded at quarterly intervals and will be paid along with the principal at the time of maturity. This information is found on page 15 of the "Customer Manual for Deposits" document, under section "c. Compounding Period/Payment of Interest" for the Senior Citizen Certificate of Deposit. Therefore, the interest is paid along with the principal at maturity only if the customer chooses the compounded interest option.
Retrieved Context
a. Interest Rate: The interest rate earned on a Senior Citizen Certificate of Deposit will earn fixed rate for the term of the CD. This rate is determined by the Bank, based on market conditions, at the time the account is opened or renewed. For current rate information, you may visit our website https://sbinewyork.statebank or call (212) 521-3390 b. Annual Percentage Yield (APY): Senior Citizen Certificate of Deposit is offered on simple interest (also called non-cumulative interest) and compound interest (also called cumulative interest) basis, depending upon your choice. In case of simple interest, the Annual Percentage Rate(APR) and Annual Percentage Yield would be the same. In case of compound interest, APY measures the total amount of interest paid on the account in a year based on the interest rate and the frequency of compounding is quarterly. The interest is calculated on a 365 days basis. c. Compounding Period/Payment of Interest: If you choose to receive simple interest (non- cumulative) on your CD, you may opt to withdraw the interest at monthly/quarterly/half-yearly intervals, at the time of opening or renewing the CD. If you choose to receive compounded interest on your CD, interest will be compounded at quarterly intervals and will be paid along with the principal at the time of maturity.
d. Interest Payment Method: When opening the CD, you may opt to receive the periodic interest payments by any one of the following: • Through ACH/Wire transfer to your designated bank account • By an official check through regular mail • In your Checking or Money Market Deposit Account with us. If you opt to receive compounded interest (cumulative), we will pay you interest along with the principal at the time of maturity of the CD. e. Minimum Balance Requirement: The minimum amount required for each CD may vary for US resident depositors and those based outside the USA. It may also vary for consumer and accounts of businesses. Currently, the following are the minimum balances:
State Bank of India New York Customer Manual for Deposits 14 Type US Resident Non-US Resident Consumer accounts $5,000 $10,000 Accounts of Businesses $10,000 $10,000 f. Early Withdrawal Penalty: The principal amount of CD cannot usually be withdrawn before the maturity date, unless the Bank consents to the withdrawal as a special case. We may require that all holders of a joint account authorize a premature withdrawal of the principal from a CD account. Partial withdrawal is not permitted. The penalty for early withdrawals of CD is as follows: Term of Deposit No of Days for which Interest will be recovered 14 days 14 days 1 month to less than 1 year 30 days 1 year to less than 3 years 60 days 3 years to less than 5 years 120 days 5 years & over 180 days The penalty will be calculated at the same interest rate of the deposit. A penalty will not be charged if the premature withdrawal is caused by the death of the depositor or if the depositor is declared legally incompetent. g. Principal Protection: SBI New York Certificate of Deposit comes with “Principal Protection” feature. The penalty for early withdrawal would be limited up to the amount of interest paid / payable and will not result in reduction of the amount originally deposited. h. Renewal: If your CD is for a term of more than 30 days, we will send you a maturity notice not less than 14 days and not more than 30 days prior to the maturity date. No maturity notice will be sent for Certificate of Deposit with term of 30 days or less.
If we do not hear from you, and unless you had specifically advised us against automatic renewal when you opened the CD, 1. We will automatically renew the CD (principal and earned interest) for a period of one year at the rate offered for one year term on the date the CD matured for CDs having maturity of 1 year or more. 2. For CDs of lower tenor, the CD shall be auto-rolled over for original tenor. In the absence of your instruction for disposal of the maturity proceeds (where automatic renewal option has been declined), the maturity amount will be placed in a non-interest bearing account.
State Bank of India New York Customer Manual for Deposits 13 4.3. CERTIFICATE OF DEPOSIT (“CD”) A CD earns a fixed rate of interest when an amount of money (principal) is left on deposit with the Bank for a fixed period (a fixed number of days, months or years). After an account is opened, you may not make deposits into or withdraw from this account until the maturity date. Premature withdrawal of principal would attract a penalty. Refer to “Penalty for Early Withdrawal of Principal” (Section f). We offer CDs with maturities from 3 months to 5 years. Bank also accepts deposit for a tenor from 7 days to 3 months on a case to case basis. a. Interest Rate: The interest rate earned on a Certificate of Deposit will be a guaranteed fixed rate for the term of the CD. This rate is determined by the Bank, based on market conditions, at the time the account is opened or renewed. Presently we are not offering floating rate Certificate of Deposits. For current rate information, you may visit our website https://sbinewyork.statebank or call 212-521-3390. b. Annual Percentage Yield (APY): Our Certificates of Deposit are offered on simple interest (also called non-cumulative interest) and compound interest (also called cumulative interest) basis, depending upon your choice. For CDs with simple interest, there will not be any difference in the interest rate (also called Annual Percentage Rate, or APR) and the Annual Percentage Yield (APY). For CDs where interest is compounded, the Annual Percentage Yield measures the total amount of interest paid on the account in a year based on the interest rate and the frequency of compounding, which is quarterly. The interest is calculated on a 365 days basis. c. Compounding Period/Payment of Interest: If you choose to receive simple interest (non- cumulative) on your CD, you may opt to withdraw the interest at monthly/quarterly/half-yearly intervals, at the time of opening or renewing the CD, provided the deposit is for one year or more. For CDs of less than six months, the simple interest is paid at maturity. If you choose to receive compounded interest on your CD, interest will be compounded at quarterly intervals and will be paid along with the principal at the time of maturity. This option is only available for CDs of six months or higher maturities.
State Bank of India New York Customer Manual for Deposits 28 • Certify: An act by which the Bank conveys that the check, so accepted, will be paid, if otherwise in order. The Bank is obligated to make payments for all checks certified by it. Your account will be debited with the amount, at the time of certifying the check. • Collateral: Any property /security pledged for use in repaying loans in case of default. • Compound/Compounding: The interest paid on the interest left behind on deposit in your account. • Consumer: A natural person who holds an account, primarily for personal, family or household purposes. • Daily Balance Method: This method applies a daily periodic rate to the principal in the account each day. • Double-Endorsed Check: A check with an endorsement in addition to the endorsement(s) of the original payee(s). • Electronic Fund Transfer: Any transfer of money initiated by electronic means to or from a bank account of a customer. • Interest Rate: This refers to the annual simple interest the account will earn. • Maturity: The end of the agreed period of time for which an account was opened (applicable to CD or loan accounts).
State Bank of India New York Customer Manual for Deposits 16 Maturity period of deposit Number of days for which interest will be recovered 1 year to less than 3 years 60 days 3 years to less than 5 years 120 days 5 years & over 180 days The penalty will be calculated at the same interest rate of the deposit. A penalty will not be charged in case the withdrawal is caused by death of the depositor or if the depositor is declared legally incompetent. Principal Protection: SBI New York Certificate of Deposit comes with the “Principal Protection” feature. The penalty for early withdrawal would be limited up to the amount of interest paid / payable and will not result in reduction of the amount originally deposited. g. Interest Payment Method: When opening the CD, you may opt to receive the periodic interest payments by any one of the following: • Through ACH/Wire transfer to your designated bank account • By an official check through regular mail • In your Checking or Money Market Deposit Account with us. h. Renewal: We will send you a maturity notice not less than 14 days and not more than 30 days prior to the maturity date. If we do not hear from you, and unless you had specifically advised us against automatic renewal when you opened the CD, we will automatically renew the CD after 10 calendar days, under the same product for a period of one year at the rate offered for one year term on the date the CD matured. In the absence of your instruction for disposal of the maturity proceeds (where automatic renewal option has been declined), the maturity amount will be placed in a non-interest bearing account. CDs that were automatically renewed have a ten- calendar-day grace period (including the date of maturity). During the grace period, you may withdraw the amount of your deposit without incurring a premature withdrawal penalty. However, no interest will be paid from the date of maturity until the date of such withdrawal. If you choose to renew your deposit, during this grace period of 10 days, from a date later than the date of maturity, no interest will be paid from the date of maturity until the date of such renewal. Please, however, note that written instructions for withdrawal should be received by us within the grace period. The instructions will be accepted through Secured Messaging on Internet Banking Portal/Mail/In person visits to the Bank. CDs that mature on Saturdays, Sundays or Federal holidays will be available for withdrawal on the next business day and interest will be paid until the maturity date. CDs may not be negotiated or transferred to another individual or corporation. Your existing CDs may also be renewed as Senior Citizen CD in case you fulfil the eligibility norms subject to receipt of written request to convert the CD into a Senior Citizen CD. Existing CDs will not be auto renewed as Senior Citizen CD even though you may fulfil the eligibility conditions.
State Bank of India New York Customer Manual for Deposits 12 month, accrued interest will be credited and paid. Accrued interest will be credited to your account prior to closing the same. c. Compounding Method: Your Money Market Deposit Account earn simple interest on a 360 days’ basis which accrues daily based on the end-of-the-day balance. The daily balance method will be used to calculate the interest on the account. This method applies a daily periodic rate to the principal in the account each day. Although interest accrues daily, you may not withdraw the earnings until the first business day of the following calendar month, when the same is credited into the account, provided the account is not closed. If not withdrawn, interest is added to and becomes part of the account balance. Since interest is added to your total account balance, any credited interest in the account is, effectively, compounded monthly. d. Annual Percentage Yield: The annual percentage yield earned (APYE) for the statement period will be advised with each monthly statement account. e. Withdrawals: A maximum of 6 transfers or withdrawals, or a combination of such transfers or withdrawals, are permitted during a calendar month or statement cycle of at least four weeks. For the purpose of this limit, preauthorized, automatic transfers (including but not limited to transfer from savings deposit for overdraft protection or for direct bill payments) and transfers and withdrawals initiated by telephone, facsimile, or computer and transfers made by check, debit card or other similar order made by the depositor and payable to third parties is included.
State Bank of India New York Customer Manual for Deposits 15 CDs that were automatically renewed have a ten-calendar-day grace period (including the date of maturity). During the grace period, you may withdraw the amount of your deposit without incurring a premature withdrawal penalty. However, no interest will be paid from the date of maturity until the date of such withdrawal. If you choose to renew your deposit, during this grace period of 10 days, from a date later than the date of maturity, no interest will be paid from the date of maturity until the date of such renewal. Please, however, note that written instructions for withdrawal should be received by us within the grace period. The instructions will be accepted through Secured Messaging on Internet Banking Portal/Mail/In person visits to the Bank. CDs that mature on Saturdays, Sundays or Federal holidays will be available for withdrawal on the next business day and interest will be paid until the maturity date. CDs may not be negotiated or transferred to another individual or corporation. 4.3.1 Senior Citizen Certificate of Deposit This is a product variant of certificate of deposit specifically available to customers who are aged 60 years and above. These accounts can be either opened as Single or Joint deposits. In case of joint accounts, the primary account holder should meet the age eligibility criteria. We offer Senior Citizen CD with maturities from 1 year to 5 years. The product is available to US Citizens, Permanent Residents and Resident Aliens. In case of joint accounts, all the customers should be US Citizens, Permanent Residents or Resident aliens.
• Principal: The exact sum of money deposited in an account or the amount of money borrowed. • Right of Set-Off: Right to adjust any overdue debt from any other account held singly or jointly with us. • Substitute Check: means a paper reproduction of an original check that contains an image of the front and back of the original check, bears a MICR line, and is suitable for automated processing in the same manner as the original check. 7 Privacy Notice: FACTS WHAT DOES STATE BANK OF INDIA (SBI-US) DO WITH YOUR PERSONAL INFORMATION? Why? Financial companies choose how they share your personal information. Federal law gives consumers the right to limit some but not all sharing. Federal law also requires us to tell you how we collect, share, and protect your personal information. Please read this notice carefully to understand what we do. What? The types of personal information we collect and share depend on the product or service you have with us. This information can include: Social Security number and income Account balances and payment history Assets and debt When you are no longer our customer, we continue to share your information as described in this notice.
a. Interest Rate: The interest rate earned on a Senior Citizen Certificate of Deposit will earn fixed rate for the term of the CD. This rate is determined by the Bank, based on market conditions, at the time the account is opened or renewed. For current rate information, you may visit our website https://sbinewyork.statebank or call (212) 521-3390 b. Annual Percentage Yield (APY): Senior Citizen Certificate of Deposit is offered on simple interest (also called non-cumulative interest) and compound interest (also called cumulative interest) basis, depending upon your choice. In case of simple interest, the Annual Percentage Rate(APR) and Annual Percentage Yield would be the same. In case of compound interest, APY measures the total amount of interest paid on the account in a year based on the interest rate and the frequency of compounding is quarterly. The interest is calculated on a 365 days basis. c. Compounding Period/Payment of Interest: If you choose to receive simple interest (non- cumulative) on your CD, you may opt to withdraw the interest at monthly/quarterly/half-yearly intervals, at the time of opening or renewing the CD. If you choose to receive compounded interest on your CD, interest will be compounded at quarterly intervals and will be paid along with the principal at the time of maturity.
State Bank of India New York Customer Manual for Deposits 28 • Certify: An act by which the Bank conveys that the check, so accepted, will be paid, if otherwise in order. The Bank is obligated to make payments for all checks certified by it. Your account will be debited with the amount, at the time of certifying the check. • Collateral: Any property /security pledged for use in repaying loans in case of default. • Compound/Compounding: The interest paid on the interest left behind on deposit in your account. • Consumer: A natural person who holds an account, primarily for personal, family or household purposes. • Daily Balance Method: This method applies a daily periodic rate to the principal in the account each day. • Double-Endorsed Check: A check with an endorsement in addition to the endorsement(s) of the original payee(s). • Electronic Fund Transfer: Any transfer of money initiated by electronic means to or from a bank account of a customer. • Interest Rate: This refers to the annual simple interest the account will earn. • Maturity: The end of the agreed period of time for which an account was opened (applicable to CD or loan accounts).
d. Interest Payment Method: When opening the CD, you may opt to receive the periodic interest payments by any one of the following: • Through ACH/Wire transfer to your designated bank account • By an official check through regular mail • In your Checking or Money Market Deposit Account with us. If you opt to receive compounded interest (cumulative), we will pay you interest along with the principal at the time of maturity of the CD. e. Minimum Balance Requirement: The minimum amount required for each CD may vary for US resident depositors and those based outside the USA. It may also vary for consumer and accounts of businesses. Currently, the following are the minimum balances:
State Bank of India New York Customer Manual for Deposits 13 4.3. CERTIFICATE OF DEPOSIT (“CD”) A CD earns a fixed rate of interest when an amount of money (principal) is left on deposit with the Bank for a fixed period (a fixed number of days, months or years). After an account is opened, you may not make deposits into or withdraw from this account until the maturity date. Premature withdrawal of principal would attract a penalty. Refer to “Penalty for Early Withdrawal of Principal” (Section f). We offer CDs with maturities from 3 months to 5 years. Bank also accepts deposit for a tenor from 7 days to 3 months on a case to case basis. a. Interest Rate: The interest rate earned on a Certificate of Deposit will be a guaranteed fixed rate for the term of the CD. This rate is determined by the Bank, based on market conditions, at the time the account is opened or renewed. Presently we are not offering floating rate Certificate of Deposits. For current rate information, you may visit our website https://sbinewyork.statebank or call 212-521-3390. b. Annual Percentage Yield (APY): Our Certificates of Deposit are offered on simple interest (also called non-cumulative interest) and compound interest (also called cumulative interest) basis, depending upon your choice. For CDs with simple interest, there will not be any difference in the interest rate (also called Annual Percentage Rate, or APR) and the Annual Percentage Yield (APY). For CDs where interest is compounded, the Annual Percentage Yield measures the total amount of interest paid on the account in a year based on the interest rate and the frequency of compounding, which is quarterly. The interest is calculated on a 365 days basis. c. Compounding Period/Payment of Interest: If you choose to receive simple interest (non- cumulative) on your CD, you may opt to withdraw the interest at monthly/quarterly/half-yearly intervals, at the time of opening or renewing the CD, provided the deposit is for one year or more. For CDs of less than six months, the simple interest is paid at maturity. If you choose to receive compounded interest on your CD, interest will be compounded at quarterly intervals and will be paid along with the principal at the time of maturity. This option is only available for CDs of six months or higher maturities.
State Bank of India New York Customer Manual for Deposits 16 Maturity period of deposit Number of days for which interest will be recovered 1 year to less than 3 years 60 days 3 years to less than 5 years 120 days 5 years & over 180 days The penalty will be calculated at the same interest rate of the deposit. A penalty will not be charged in case the withdrawal is caused by death of the depositor or if the depositor is declared legally incompetent. Principal Protection: SBI New York Certificate of Deposit comes with the “Principal Protection” feature. The penalty for early withdrawal would be limited up to the amount of interest paid / payable and will not result in reduction of the amount originally deposited. g. Interest Payment Method: When opening the CD, you may opt to receive the periodic interest payments by any one of the following: • Through ACH/Wire transfer to your designated bank account • By an official check through regular mail • In your Checking or Money Market Deposit Account with us. h. Renewal: We will send you a maturity notice not less than 14 days and not more than 30 days prior to the maturity date. If we do not hear from you, and unless you had specifically advised us against automatic renewal when you opened the CD, we will automatically renew the CD after 10 calendar days, under the same product for a period of one year at the rate offered for one year term on the date the CD matured. In the absence of your instruction for disposal of the maturity proceeds (where automatic renewal option has been declined), the maturity amount will be placed in a non-interest bearing account. CDs that were automatically renewed have a ten- calendar-day grace period (including the date of maturity). During the grace period, you may withdraw the amount of your deposit without incurring a premature withdrawal penalty. However, no interest will be paid from the date of maturity until the date of such withdrawal. If you choose to renew your deposit, during this grace period of 10 days, from a date later than the date of maturity, no interest will be paid from the date of maturity until the date of such renewal. Please, however, note that written instructions for withdrawal should be received by us within the grace period. The instructions will be accepted through Secured Messaging on Internet Banking Portal/Mail/In person visits to the Bank. CDs that mature on Saturdays, Sundays or Federal holidays will be available for withdrawal on the next business day and interest will be paid until the maturity date. CDs may not be negotiated or transferred to another individual or corporation. Your existing CDs may also be renewed as Senior Citizen CD in case you fulfil the eligibility norms subject to receipt of written request to convert the CD into a Senior Citizen CD. Existing CDs will not be auto renewed as Senior Citizen CD even though you may fulfil the eligibility conditions.
State Bank of India New York Customer Manual for Deposits 14 Type US Resident Non-US Resident Consumer accounts $5,000 $10,000 Accounts of Businesses $10,000 $10,000 f. Early Withdrawal Penalty: The principal amount of CD cannot usually be withdrawn before the maturity date, unless the Bank consents to the withdrawal as a special case. We may require that all holders of a joint account authorize a premature withdrawal of the principal from a CD account. Partial withdrawal is not permitted. The penalty for early withdrawals of CD is as follows: Term of Deposit No of Days for which Interest will be recovered 14 days 14 days 1 month to less than 1 year 30 days 1 year to less than 3 years 60 days 3 years to less than 5 years 120 days 5 years & over 180 days The penalty will be calculated at the same interest rate of the deposit. A penalty will not be charged if the premature withdrawal is caused by the death of the depositor or if the depositor is declared legally incompetent. g. Principal Protection: SBI New York Certificate of Deposit comes with “Principal Protection” feature. The penalty for early withdrawal would be limited up to the amount of interest paid / payable and will not result in reduction of the amount originally deposited. h. Renewal: If your CD is for a term of more than 30 days, we will send you a maturity notice not less than 14 days and not more than 30 days prior to the maturity date. No maturity notice will be sent for Certificate of Deposit with term of 30 days or less.
State Bank of India New York Customer Manual for Deposits 12 month, accrued interest will be credited and paid. Accrued interest will be credited to your account prior to closing the same. c. Compounding Method: Your Money Market Deposit Account earn simple interest on a 360 days’ basis which accrues daily based on the end-of-the-day balance. The daily balance method will be used to calculate the interest on the account. This method applies a daily periodic rate to the principal in the account each day. Although interest accrues daily, you may not withdraw the earnings until the first business day of the following calendar month, when the same is credited into the account, provided the account is not closed. If not withdrawn, interest is added to and becomes part of the account balance. Since interest is added to your total account balance, any credited interest in the account is, effectively, compounded monthly. d. Annual Percentage Yield: The annual percentage yield earned (APYE) for the statement period will be advised with each monthly statement account. e. Withdrawals: A maximum of 6 transfers or withdrawals, or a combination of such transfers or withdrawals, are permitted during a calendar month or statement cycle of at least four weeks. For the purpose of this limit, preauthorized, automatic transfers (including but not limited to transfer from savings deposit for overdraft protection or for direct bill payments) and transfers and withdrawals initiated by telephone, facsimile, or computer and transfers made by check, debit card or other similar order made by the depositor and payable to third parties is included.
• Principal: The exact sum of money deposited in an account or the amount of money borrowed. • Right of Set-Off: Right to adjust any overdue debt from any other account held singly or jointly with us. • Substitute Check: means a paper reproduction of an original check that contains an image of the front and back of the original check, bears a MICR line, and is suitable for automated processing in the same manner as the original check. 7 Privacy Notice: FACTS WHAT DOES STATE BANK OF INDIA (SBI-US) DO WITH YOUR PERSONAL INFORMATION? Why? Financial companies choose how they share your personal information. Federal law gives consumers the right to limit some but not all sharing. Federal law also requires us to tell you how we collect, share, and protect your personal information. Please read this notice carefully to understand what we do. What? The types of personal information we collect and share depend on the product or service you have with us. This information can include: Social Security number and income Account balances and payment history Assets and debt When you are no longer our customer, we continue to share your information as described in this notice.
If we do not hear from you, and unless you had specifically advised us against automatic renewal when you opened the CD, 1. We will automatically renew the CD (principal and earned interest) for a period of one year at the rate offered for one year term on the date the CD matured for CDs having maturity of 1 year or more. 2. For CDs of lower tenor, the CD shall be auto-rolled over for original tenor. In the absence of your instruction for disposal of the maturity proceeds (where automatic renewal option has been declined), the maturity amount will be placed in a non-interest bearing account.
State Bank of India New York Customer Manual for Deposits 20 If you apply for a duplicate official check or a refund within 180 days of the date of the check, the Bank would require you and the payee to jointly sign an affidavit of loss and indemnity, referred to as Indemnity Agreement. You may also be required to submit a Surety Bond for twice the amount of the instrument or to place sufficient funds as security with us. After 180 days, an affidavit of loss and indemnity alone may suffice. A fee (see “Schedule of Fees & Charges”) will be charged for each stop payment request. i. Your Records: Your cancelled check(s) or substitute check(s), copies of special withdrawal form(s) and acknowledgment(s) on deposit slip(s) are your records. Paid and cancelled checks or substitute checks will be mailed with the statement of accounts to U.S. based customers. The cancelled checks or substitute checks for non-U.S. based accounts will normally be retained by the Bank. j. Statement of Account: Both Checking and Money Market Deposit Accounts are statement accounts. For all active statement accounts (that is, accounts which are not inactive or dormant as explained in Section 5.2) at least once in a calendar month, we will send a statement showing all account activities during the previous statement period. This statement will indicate your balance on the statement date and will give you an itemized, date-wise listing of all credits, all paid checks/ transfers, transactions put through using the linked debit card, interest earned, and any maintenance and service charges levied. It will also indicate the annual percentage yield earned (APYE) in effect during the period, if the account is interest bearing. All statements will be mailed to the last address known to the Bank by regular mail. For additional statements and other modes of sending statements, charges will be extra. No periodic account statements will be sent on CD accounts. Statements of Account are not available online, however, you may view the transactions online through internet banking.

Test Case

Question: What is the definition of 'PIN' in the context of the Debit Card Agreement?

Metric Baseline Score Current Score
answer_accuracy 0.78464780 0.72416157 (-0.06048623)
groundedness 0.86342289 0.78074145 (-0.08268143)
mean_answer_similarity 0.83722301 0.82791736 (-0.00930565)
mean_reciprocal_rank 1.00000000 1.00000000
min_answer_similarity 0.78464780 0.72416157 (-0.06048623)
model_failures 0.00000000 0.00000000
model_generation_failures 0.00000000 0.00000000
model_parse_failures 0.00000000 0.00000000
model_passes 1.00000000 1.00000000
model_retrieval_failures 0.00000000 0.00000000
precision_relevancy 0.87927821 0.88381052 (+0.00453231)
recall_relevancy 0.93883342 0.93883342
rouge_1 0.39735099 0.37974684 (-0.01760416)
rouge_2 0.38926174 0.37179487 (-0.01746687)
rouge_l 0.39735099 0.37974684 (-0.01760416)

Legend:

  • Metric : The evaluation metric name. Shown in bold red if the metric flipped between pass/fail status.
  • Baseline Score : The metric value for the baseline model. Shown in bold green if baseline won, red if lost.
  • Current Score : The metric value for the current model, followed by the delta from baseline in parentheses.
  • Delta Colors : Green = improvement, Orange = regression, Red = metric flipped to fail.
  • Winner Determination : For each metric, the winner is determined by comparing scores while considering the metric's directionality (higher is better vs. lower is better).
Baseline Result Current Result
Model claude-3-7-sonnet-20250219@h2ogpte claude-3-7-sonnet-20250219@h2ogpte
Question What is the definition of 'PIN' in the context of the Debit Card Agreement?
Expected answer A 4-digit Personal Identification Number, required for accessing a Debit Card, allocated to the Card Holder by the Bank or chosen by the Card Holder from time to time.
Actual Answer According to the document, in the context of the Debit Card Agreement, PIN is defined as "a 4-digit Personal Identification Number, required for accessing a Debit Card, allocated to the Card Holder by the Bank or chosen by the Card Holder from time to time." This definition appears in multiple sections of the document, including page 48 and page 35 of the Customer Manual for Deposits. The document also emphasizes that the PIN is the Card Holder's electronic signature and should be kept confidential. Card Holders are advised to memorize their PIN, not keep a written record of it, and not disclose it to any third party, as the security of the PIN is the Card Holder's responsibility. According to the document, in the context of the Debit Card Agreement, PIN is defined as "a 4-digit Personal Identification Number, required for accessing a Debit Card, allocated to the Card Holder by the Bank or chosen by the Card Holder from time to time." This definition appears in multiple sections of the document, including page 35 and page 48 of the "test-suite-call-center-50p.pdf" document. The document also emphasizes that the PIN is the Card Holder's electronic signature and should be kept confidential. Card Holders are advised to memorize their PIN, not keep a written record of it in any form, and not disclose it to any third party. The security of the PIN is described as the Card Holder's responsibility.
Retrieved Context
c) “Account(s)” means the Card Holders Checking, Money Market Deposit, or other Account(s) to which the Card is linked. d) “ATM” means any Automated Teller machine located in the U.S. or otherwise, whether operated by the STAR Network, the Bank, or by another bank or financial institution, at which the Card Holder may use the Card to access funds held in the Account. e) “PIN” means a 4-digit Personal Identification Number, required for accessing a Debit Card, allocated to the Card Holder by the Bank or chosen by the Card Holder from time to time. f) “Transaction” means an instruction given by a Card Holder to the Bank, affected by a Card Holder’s use of the Debit Card directly or indirectly. g) “Merchant” or “Merchant Establishment” shall mean retailers, service providers, or establishments, wherever located, which accept the Card as payment for products and services. h) “STAR Network” means the network of ATMs operated by the STAR (First Data) Network in and outside the U.S., at which the Debit Card may be used, to the extent State Bank of India, New York, has authorized access to such network outside the U.S.
5. Funds: The Card Holder will maintain sufficient funds in the Account as necessary to cover any transactions at the time they are initiated. The Card Holder should not use or attempt to use the Card without sufficient funds in the Account. In the event of payment/debit made in excess of the balance available in the Account, Card Holder will be responsible to the Bank for the amount of any transaction completed and will also be responsible to the Bank for the Service Fee disclosed in the Customer Manual for a check returned or paid against insufficient or unavailable funds. Please see the Customer Manual for a Schedule of Fees and Charges. 6. Periodic Statements: Periodic Statements of the Account will be sent to the Card Holder as provided in the Customer Manual. 7. Expiration/Renewal: The Card is valid up to the last day of the month/year indicated on the Card. A renewal Card shall be sent by the Bank before the expiry of the Card at the discretion of the Bank. The Bank reserves the sole right of renewing the Card Account on expiry. The Card Holder is responsible for destroying the expired Card. Unless we are notified in writing otherwise, re-issued cards will be sent to your last known address according to the records of the Bank. 8. ATM Use: The Debit Card can be used in USA and India. Please contact us and in case you wish to use your card in any other country. You are required to submit a signed request before for allowing transactions in countries except US and India. Bank reserves the right to allow or decline such requests due to regulatory and policy considerations. The Card is accepted at STAR Network ATMs and may be accepted at ATMs operated by other banks or financial institutions. The Card may be used to withdraw cash from the Account, transfer funds between Accounts, and obtain Account balance information. Card Holder is entitled to receive a receipt of ATM Transactions containing sufficient information to identify the transaction and the terminal used. You cannot deposit cash or check at ATMs. The Bank will have no liability what so ever if you deposit cash or check at an ATM. Cash withdrawals and balance inquiries may be subject to a fee (if used outside the STAR Network) and will be debited to the Account at the time of such transactions
b) The Bank shall be entitled to terminate the Card with immediate effect without notice and the Card shall be returned upon the occurrence of any of the following events: • Card Holder’s failure to comply with the terms and conditions herein. • The Card Holder’s default under an agreement or commitment entered into with the Bank. • The Card Holder becomes the subject of any bankruptcy, insolvency proceedings or proceedings of the similar nature. • Demise of the Cardholder. • Failure to maintain minimum required balance to cover transactions. s. Error Resolution: Disputes of ATM or Merchant Establishment Transactions appearing on the Card Holder’s Periodic Statement are subject to the Error Resolution Procedure as mentioned herein. Your rights to a refund or returned merchandise are generally the same as if you had paid by cash or check, and generally must be resolved with the merchant. You will get a monthly statement of your Checking/Money Market account, if the account is not inactive or dormant, which will contain the details of your Debit Card transactions. If you think your statement or receipt is wrong or if you need more information about a transaction listed on the statement, or if you feel that there are other errors or if you have questions about your debit card transactions, please follow the procedures listed here: a) Initial and annual error resolution In Case of Errors or Questions About Your Electronic Transfers telephone or write to us at the following address: State Bank of India Deposit Section 460 Park Avenue, New York, N.Y 10022 Tel: (212)521-3342/3318 as soon as you can, if you think your statement or receipt is wrong or if you need more information about a transfer listed on the statement or receipt. We must hear from you no later than 60 days after we sent the FIRST statement on which the problem or error appeared.
11. International Transactions: Additionally, Card Holders may use the Card at ATM and Merchant Establishments in countries other than the U.S. and India, if so permitted by the Bank, and in currencies other than U.S. Dollars. The Transaction will be converted to U.S. dollars. The exchange rate is decided by MasterCard and not the Bank. The use of the Card may be restricted with respect to certain foreign countries as required by U.S. laws and regulations. Fees: The Bank provides the Card at no charge, subject to such changes as Bank may make from time to time with advance notice as provided by law. In some instances, there may be charges imposed by ATMs operated by other banks and financial institutions. Business Days: The Bank’s business days are Monday through Friday, 9:00 a.m. to 4:00 p.m. (cash services available up to 3:00 pm only) barring the banking holidays as prescribed by the New York Department of Financial Services. Disclosure of Account Information to Third Parties: Please see our privacy policy at the end of this agreement for privacy information.
The Bank shall not be liable to the Card Holder or to any third party, for any loss or damage suffered due to the following reasons: (i) Any action carried out by the Bank, in good faith, based upon the instructions of the Card Holder, exercising due diligence and reasonable care; (ii) Any unauthorized and illegal Transactions occurring through the use of Bank Account(s), which can be attributed to the fraudulent or negligent conduct of the Card Holder, to the extent permitted by law; (iii) Any ATM or Merchant Establishment refusal to honor the Card, for whatever reason; (iv) Intrusion or hacking into the computer system/network or communication network of the Bank, to the extent permitted by law; (v) Failure to carry out any instructions of the Card Holder due to insufficiency of balance in the Card Holder’s Account(s) or if the card holder’s funds are subject to legal process or other restriction; (vi) Failure of the Card Holder to access the Account due to any Force Majeure Event, Technical Problems, or any other reason beyond the control of the Bank; (vii) Failure of the Card Holder to keep confidential and secure, PIN or any passwords, keywords or other identification marks given to the Card Holder for operating of the Account and/or Card; (viii) Failure of the Card Holder to inform the Bank regarding any changes in the Card Holder’s personal information; (ix) Breach of any of the other terms and conditions stated herein or in the Customer Manual by the Card Holder; (x) Non-debiting of Transaction amount instantly through ATM or Merchant Transactions; (xi) Other than to return your funds to you and to properly credit your account, under no circumstances shall the Bank be liable for any damages, whatsoever whether such damages are direct, indirect, incidental, consequential and irrespective of whether any claim is based on loss of revenue, investment, production, goodwill, profit, interruption of business or any other loss of any character of nature whatsoever and whether sustained by the Card Holder or any other third party. 14. Termination: The Bank reserves the right to cancel or withdraw the Card or any of the other services offered at any time without assigning any reason. If the Card Holder closes the Account, the Card(s) issued with the Account will be void. The Card Holder(s) must immediately cease to use the Card and destroy and return all additional Cards. If there are outstanding Transactions pending to the Account, the same will be netted out from the balance prior to the Bank returning the funds to the Card Holder. If the Account is closed, due to any reason whatsoever, prior to debit of any outstanding Card Transactions, Card Holder is liable to refund the amount along with the interest and
e) Overdraft on Account of Pre-authorized Transactions: Please note that while the Bank does not provide any overdraft facility on your debit card transaction, the Bank shall have right to recover funds from you if your Account gets over-drawn because the Bank has settled a preauthorized transaction done at a Merchant Establishment using your debit card or on account of other such transactions done using your debit card. You agree that you will remain responsible to the Bank for the amount by which your Account gets overdrawn. Any two occurrences of your Account having non-sufficient funds to cover a pre-approved/ authorized debit card transaction will lead to closure of your Account and cancellation of the linked debit card facility. f) Cancellation of Merchant debit-card authorizations: Generally, the Bank is not permitted to
9. ELECTRONIC FUND TRANSFERS (Applicable only to Consumer Accounts) a. Applicability: This section addresses the items and conditions which apply when you authorize Electronic Funds Transfers (EFT) of Federal recurring payments such as Social Security credits (SSA, SSI checks, etc.), ACH transactions and debit card transactions to your account. These terms apply if you receive a State Bank of India, New York Branch ATM-cum- Debit Card. If you are approved, the card is forwarded to you at your registered mailing address. By activating the card, you agree to these terms and conditions. All other terms and conditions for your account, as set forth in this Manual, will also apply. An Electronic Funds Transfer means any transfer of funds started through an electronic terminal or a magnetic tape for the purpose of instructing or authorizing us to credit/ debit your account. b. Definitions: Additional terms are defined as follows: “Card” or “Debit Card” refers to the State Bank of India -- New York Branch Debit Card issued by the Bank to a Card Holder. The card issued is co-branded by MasterCard. “Card Holder” means the approved Customer who has been issued the Card and who is authorized to hold and use the Card. Card Holder is referred to as “you”, “your”, or similar pronouns. Words in
State Bank of India New York Customer Manual for Deposits 49 and which cannot be predicted by men of ordinary prudence. j) “Technical Problem” means any problems or difficulties arising due to the power and electricity failure, computer errors, programming errors, software or hardware errors, computer breakdown, unavailability of Internet connections, communication problems between STAR Network’s server and any ATM, the Bank’s server and ATM network, shutting down of the STAR Network or the Bank’s servers, unavailability of links, corruption of the computer software, problems in ATM or any other service providers‟ infrastructure and telecommunication network, problems in any other telecommunication network and any other technology-related problems. 3. Activation: Prior to first use the Card must be activated through the Voice Response Unit (VRU) utilizing the telephone number listed in the sticker attached to the new Debit Card or by using the Card and the associated PIN at an ATM (for debit cards where the branch has issued PIN). 4. PIN Security: The PIN is the Card Holder’s electronic signature. It shall be kept confidential. The Card Holder should memorize the PIN, and a written record of the PIN should not be kept in any form or disclosed to a third party. The security of the PIN is the Card Holder’s responsibility.
State Bank of India New York Customer Manual for Deposits 35 plural shall also mean and include those in singular and vice versa. “Account(s)” means the Card Holder’s Checking, Money Market Deposit, or other Account(s) to which the Card is linked. “ATM” means any Automated Teller Machine located in the U.S. or otherwise, whether operated by the STAR Network, the Bank, or by another bank or financial institution, at which the Card Holder may use the Card to access funds held in an Account. “PIN” means a 4-digit Personal Identification Number, required for accessing a Debit Card, allocated to the Card Holder by the Bank or chosen by the Card Holder from time to time. “Transaction” means an instruction given by a Card Holder to the Bank, effected by a Card Holder’s use of the Debit Card directly or indirectly. “Merchant” or “Merchant Establishment” shall mean retailers, service providers, or establishments, wherever located, which accept the Card as payment for products and services. “STAR Network” means the network of ATMs operated by the STAR (First Data) Network in and outside the U.S., at which the Debit Card may be used. “Force Majeure Event” means any event such as fire, earth quake, flood, epidemic, strike, lockout, labor controversy, industrial disputes, riot, civil disturbance, war, terrorist attack, civil commotion, natural disasters, Acts of God, failure or delay of any transportation agency, or any other furnisher of essential supplies or other facilities, omissions and acts of public authorities preventing or delaying performance of obligation relating to acts of public authorities including changes in law, or other regulatory authority acts beyond the control of the Bank, or for any other reasons which cannot reasonably be forecast/foreseen or provided against, and which cannot be predicted with ordinary prudence. “Technical Problem” means any problems or difficulties arising due to the power and electricity failure, computer errors, programming errors, software or hardware errors, computer breakdown, unavailability of Internet connections, communication problems between STAR Network’s server and any ATM, the Bank’s server and ATM network, shutting down of the STAR Network or the Bank’s servers, unavailability of links, corruption of the computer software, problems in ATM or any other service providers’ infrastructure and telecommunication network, problems in any other telecommunication network and any other technology-related problems. c. Activation: Prior to using, the Card must be activated through the Voice Response Unit (VRU) utilizing the telephone number listed in the sticker attached to the new Debit Card or by using the Card and the associated PIN at an ATM. For customers who do not have Social Security Number(SSN), ATM card will be activated after Bank receives positive confirmation from the customer having received ATM Card and PIN. d. PIN Security: The PIN is the Card Holder’s electronic signature. It shall be kept confidential. The Card Holder should memorize the PIN, and a written record of the PIN should not be kept in any form
State Bank of India New York Customer Manual for Deposits 37 purchase, but in some instances, they may be for a different amount as MasterCard’s rules permit "authorization" holds based upon an estimated amount of the transaction, and, in some instances, may include additional amounts authorized under MasterCard’s rules. The Card Holder agrees that such a “hold” may be placed on his account/accounts in the amount authorized. These authorization holds can affect the Card Holder’s available balance for other transactions. The amount of your available balance will be decreased by the amount of the “hold‟ for as long as the “hold‟ is in effect. This means that funds on “hold‟ will not be available for withdrawal, transfer or payment. In each instance, the Card Holder is responsible to the Bank for the amount that the Bank settles based upon either the placed-hold limits or the final amount presented and settled. The Card Holder will remain responsible to the Bank for settlement of all pre-authorized transactions even if such transactions come after the hold is removed. This is another reason that the Card Holder should take care to keep an accurate register and monitor the Account’s balance for pending transactions and cleared transaction to ensure that sufficient funds are in the Account at all times. k. Overdraft on Account of Pre-authorized Transactions: Please note that while the Bank does not provide any overdraft facility on your debit card transactions, the Bank shall have right to recover funds from you if your account gets over-drawn because the Bank has settled a preauthorized transaction done at a Merchant Establishment using your debit card or on account of other such transactions done using your debit card. You agree that you will remain responsible to the Bank for the amount by which your account is overdrawn. Any two occurrences of your account having non- sufficient funds to cover a pre-approved/ authorized debit card transaction will lead to closure of your account and cancellation of the linked debit card facility. l. Cancellation of Merchant debit-card authorizations: Generally, the Bank is not permitted to allow the Card Holder to cancel a hold within MasterCard limits for Transactions that were authorized by the Card Holder. If, however, the Card Holder suspects that a Transaction was fraudulent or otherwise unauthorized, the Card Holder should contact the Merchant and the Bank for possible ways to chargeback the debit. Please see the Error Resolution Procedures in subsequent paragraphs for more information. m. Notice Regarding Money Market Deposit Accounts: If the Account is a Money Market Deposit Account, certain limitations on transactions apply. A maximum of 6 transfers or withdrawals, or a combination of such transfers or withdrawals, are permitted during a calendar month or statement cycle of at least four weeks, including transfers or withdrawal by check, ACH to third parties, and/or Debit Card transactions with Merchant Establishments. However, any number of the following transactions using the Debit Card at an ATM are permitted: transfers of funds between your own Accounts held with the Bank and balance inquiries. n. International Transactions: Additionally, Card Holders may use the Card at ATMs and Merchant Establishments in U.S. and India. Any transaction done in INR will be converted to U.S. dollars. The exchange rate is established by MasterCard and not the Bank. The use of the Card may also be restricted with respect to certain foreign countries as required by U.S. laws and regulations. Any offer or option for exchange rate given by any ATM machine is no way related to SBI NY Branch and they are offered by local ATM service provider. Your account will be debited based upon the option selected by you.
c) “Account(s)” means the Card Holders Checking, Money Market Deposit, or other Account(s) to which the Card is linked. d) “ATM” means any Automated Teller machine located in the U.S. or otherwise, whether operated by the STAR Network, the Bank, or by another bank or financial institution, at which the Card Holder may use the Card to access funds held in the Account. e) “PIN” means a 4-digit Personal Identification Number, required for accessing a Debit Card, allocated to the Card Holder by the Bank or chosen by the Card Holder from time to time. f) “Transaction” means an instruction given by a Card Holder to the Bank, affected by a Card Holder’s use of the Debit Card directly or indirectly. g) “Merchant” or “Merchant Establishment” shall mean retailers, service providers, or establishments, wherever located, which accept the Card as payment for products and services. h) “STAR Network” means the network of ATMs operated by the STAR (First Data) Network in and outside the U.S., at which the Debit Card may be used, to the extent State Bank of India, New York, has authorized access to such network outside the U.S.
State Bank of India New York Customer Manual for Deposits 49 and which cannot be predicted by men of ordinary prudence. j) “Technical Problem” means any problems or difficulties arising due to the power and electricity failure, computer errors, programming errors, software or hardware errors, computer breakdown, unavailability of Internet connections, communication problems between STAR Network’s server and any ATM, the Bank’s server and ATM network, shutting down of the STAR Network or the Bank’s servers, unavailability of links, corruption of the computer software, problems in ATM or any other service providers‟ infrastructure and telecommunication network, problems in any other telecommunication network and any other technology-related problems. 3. Activation: Prior to first use the Card must be activated through the Voice Response Unit (VRU) utilizing the telephone number listed in the sticker attached to the new Debit Card or by using the Card and the associated PIN at an ATM (for debit cards where the branch has issued PIN). 4. PIN Security: The PIN is the Card Holder’s electronic signature. It shall be kept confidential. The Card Holder should memorize the PIN, and a written record of the PIN should not be kept in any form or disclosed to a third party. The security of the PIN is the Card Holder’s responsibility.
5. Funds: The Card Holder will maintain sufficient funds in the Account as necessary to cover any transactions at the time they are initiated. The Card Holder should not use or attempt to use the Card without sufficient funds in the Account. In the event of payment/debit made in excess of the balance available in the Account, Card Holder will be responsible to the Bank for the amount of any transaction completed and will also be responsible to the Bank for the Service Fee disclosed in the Customer Manual for a check returned or paid against insufficient or unavailable funds. Please see the Customer Manual for a Schedule of Fees and Charges. 6. Periodic Statements: Periodic Statements of the Account will be sent to the Card Holder as provided in the Customer Manual. 7. Expiration/Renewal: The Card is valid up to the last day of the month/year indicated on the Card. A renewal Card shall be sent by the Bank before the expiry of the Card at the discretion of the Bank. The Bank reserves the sole right of renewing the Card Account on expiry. The Card Holder is responsible for destroying the expired Card. Unless we are notified in writing otherwise, re-issued cards will be sent to your last known address according to the records of the Bank. 8. ATM Use: The Debit Card can be used in USA and India. Please contact us and in case you wish to use your card in any other country. You are required to submit a signed request before for allowing transactions in countries except US and India. Bank reserves the right to allow or decline such requests due to regulatory and policy considerations. The Card is accepted at STAR Network ATMs and may be accepted at ATMs operated by other banks or financial institutions. The Card may be used to withdraw cash from the Account, transfer funds between Accounts, and obtain Account balance information. Card Holder is entitled to receive a receipt of ATM Transactions containing sufficient information to identify the transaction and the terminal used. You cannot deposit cash or check at ATMs. The Bank will have no liability what so ever if you deposit cash or check at an ATM. Cash withdrawals and balance inquiries may be subject to a fee (if used outside the STAR Network) and will be debited to the Account at the time of such transactions
e) Overdraft on Account of Pre-authorized Transactions: Please note that while the Bank does not provide any overdraft facility on your debit card transaction, the Bank shall have right to recover funds from you if your Account gets over-drawn because the Bank has settled a preauthorized transaction done at a Merchant Establishment using your debit card or on account of other such transactions done using your debit card. You agree that you will remain responsible to the Bank for the amount by which your Account gets overdrawn. Any two occurrences of your Account having non-sufficient funds to cover a pre-approved/ authorized debit card transaction will lead to closure of your Account and cancellation of the linked debit card facility. f) Cancellation of Merchant debit-card authorizations: Generally, the Bank is not permitted to
b) The Bank shall be entitled to terminate the Card with immediate effect without notice and the Card shall be returned upon the occurrence of any of the following events: • Card Holder’s failure to comply with the terms and conditions herein. • The Card Holder’s default under an agreement or commitment entered into with the Bank. • The Card Holder becomes the subject of any bankruptcy, insolvency proceedings or proceedings of the similar nature. • Demise of the Cardholder. • Failure to maintain minimum required balance to cover transactions. s. Error Resolution: Disputes of ATM or Merchant Establishment Transactions appearing on the Card Holder’s Periodic Statement are subject to the Error Resolution Procedure as mentioned herein. Your rights to a refund or returned merchandise are generally the same as if you had paid by cash or check, and generally must be resolved with the merchant. You will get a monthly statement of your Checking/Money Market account, if the account is not inactive or dormant, which will contain the details of your Debit Card transactions. If you think your statement or receipt is wrong or if you need more information about a transaction listed on the statement, or if you feel that there are other errors or if you have questions about your debit card transactions, please follow the procedures listed here: a) Initial and annual error resolution In Case of Errors or Questions About Your Electronic Transfers telephone or write to us at the following address: State Bank of India Deposit Section 460 Park Avenue, New York, N.Y 10022 Tel: (212)521-3342/3318 as soon as you can, if you think your statement or receipt is wrong or if you need more information about a transfer listed on the statement or receipt. We must hear from you no later than 60 days after we sent the FIRST statement on which the problem or error appeared.
The Bank shall not be liable to the Card Holder or to any third party, for any loss or damage suffered due to the following reasons: (i) Any action carried out by the Bank, in good faith, based upon the instructions of the Card Holder, exercising due diligence and reasonable care; (ii) Any unauthorized and illegal Transactions occurring through the use of Bank Account(s), which can be attributed to the fraudulent or negligent conduct of the Card Holder, to the extent permitted by law; (iii) Any ATM or Merchant Establishment refusal to honor the Card, for whatever reason; (iv) Intrusion or hacking into the computer system/network or communication network of the Bank, to the extent permitted by law; (v) Failure to carry out any instructions of the Card Holder due to insufficiency of balance in the Card Holder’s Account(s) or if the card holder’s funds are subject to legal process or other restriction; (vi) Failure of the Card Holder to access the Account due to any Force Majeure Event, Technical Problems, or any other reason beyond the control of the Bank; (vii) Failure of the Card Holder to keep confidential and secure, PIN or any passwords, keywords or other identification marks given to the Card Holder for operating of the Account and/or Card; (viii) Failure of the Card Holder to inform the Bank regarding any changes in the Card Holder’s personal information; (ix) Breach of any of the other terms and conditions stated herein or in the Customer Manual by the Card Holder; (x) Non-debiting of Transaction amount instantly through ATM or Merchant Transactions; (xi) Other than to return your funds to you and to properly credit your account, under no circumstances shall the Bank be liable for any damages, whatsoever whether such damages are direct, indirect, incidental, consequential and irrespective of whether any claim is based on loss of revenue, investment, production, goodwill, profit, interruption of business or any other loss of any character of nature whatsoever and whether sustained by the Card Holder or any other third party. 14. Termination: The Bank reserves the right to cancel or withdraw the Card or any of the other services offered at any time without assigning any reason. If the Card Holder closes the Account, the Card(s) issued with the Account will be void. The Card Holder(s) must immediately cease to use the Card and destroy and return all additional Cards. If there are outstanding Transactions pending to the Account, the same will be netted out from the balance prior to the Bank returning the funds to the Card Holder. If the Account is closed, due to any reason whatsoever, prior to debit of any outstanding Card Transactions, Card Holder is liable to refund the amount along with the interest and
State Bank of India New York Customer Manual for Deposits 48 Annexure B Debit Card agreement: Please read the Debit Card agreement given below to have a detailed view of terms and conditions applicable for the use of this service. The Debit Card agreement is also available on our website https://sbinewyork.statebank . 1. Agreement: This Agreement is provided at the time you apply for a State Bank of India, New York Branch ATM Debit Card. If you are approved, the card is forwarded to you. By activating the card, you agree to the terms and conditions of this Agreement. 2. Definitions: Unless otherwise stated, all terms used in this Supplement have the same meaning as defined in the Customer Manual for Deposit Accounts (“Customer Manual”) Additional terms are defined as follows: a) “Card” or “Debit Card” refers to the State Bank of India, New York Branch Debit Card issued by the Bank to a Card Holder. The card issued is co-branded by MasterCard. b) “Card Holder” means the approved Customer who has been issued the Card and who is authorized/has the necessary mandate to hold and use the Card. Card Holder is referred to as “you”, “your”, or similar pronouns. Words in plural shall also mean and include those in singular and vice versa.
11. International Transactions: Additionally, Card Holders may use the Card at ATM and Merchant Establishments in countries other than the U.S. and India, if so permitted by the Bank, and in currencies other than U.S. Dollars. The Transaction will be converted to U.S. dollars. The exchange rate is decided by MasterCard and not the Bank. The use of the Card may be restricted with respect to certain foreign countries as required by U.S. laws and regulations. Fees: The Bank provides the Card at no charge, subject to such changes as Bank may make from time to time with advance notice as provided by law. In some instances, there may be charges imposed by ATMs operated by other banks and financial institutions. Business Days: The Bank’s business days are Monday through Friday, 9:00 a.m. to 4:00 p.m. (cash services available up to 3:00 pm only) barring the banking holidays as prescribed by the New York Department of Financial Services. Disclosure of Account Information to Third Parties: Please see our privacy policy at the end of this agreement for privacy information.
9. ELECTRONIC FUND TRANSFERS (Applicable only to Consumer Accounts) a. Applicability: This section addresses the items and conditions which apply when you authorize Electronic Funds Transfers (EFT) of Federal recurring payments such as Social Security credits (SSA, SSI checks, etc.), ACH transactions and debit card transactions to your account. These terms apply if you receive a State Bank of India, New York Branch ATM-cum- Debit Card. If you are approved, the card is forwarded to you at your registered mailing address. By activating the card, you agree to these terms and conditions. All other terms and conditions for your account, as set forth in this Manual, will also apply. An Electronic Funds Transfer means any transfer of funds started through an electronic terminal or a magnetic tape for the purpose of instructing or authorizing us to credit/ debit your account. b. Definitions: Additional terms are defined as follows: “Card” or “Debit Card” refers to the State Bank of India -- New York Branch Debit Card issued by the Bank to a Card Holder. The card issued is co-branded by MasterCard. “Card Holder” means the approved Customer who has been issued the Card and who is authorized to hold and use the Card. Card Holder is referred to as “you”, “your”, or similar pronouns. Words in
State Bank of India New York Customer Manual for Deposits 35 plural shall also mean and include those in singular and vice versa. “Account(s)” means the Card Holder’s Checking, Money Market Deposit, or other Account(s) to which the Card is linked. “ATM” means any Automated Teller Machine located in the U.S. or otherwise, whether operated by the STAR Network, the Bank, or by another bank or financial institution, at which the Card Holder may use the Card to access funds held in an Account. “PIN” means a 4-digit Personal Identification Number, required for accessing a Debit Card, allocated to the Card Holder by the Bank or chosen by the Card Holder from time to time. “Transaction” means an instruction given by a Card Holder to the Bank, effected by a Card Holder’s use of the Debit Card directly or indirectly. “Merchant” or “Merchant Establishment” shall mean retailers, service providers, or establishments, wherever located, which accept the Card as payment for products and services. “STAR Network” means the network of ATMs operated by the STAR (First Data) Network in and outside the U.S., at which the Debit Card may be used. “Force Majeure Event” means any event such as fire, earth quake, flood, epidemic, strike, lockout, labor controversy, industrial disputes, riot, civil disturbance, war, terrorist attack, civil commotion, natural disasters, Acts of God, failure or delay of any transportation agency, or any other furnisher of essential supplies or other facilities, omissions and acts of public authorities preventing or delaying performance of obligation relating to acts of public authorities including changes in law, or other regulatory authority acts beyond the control of the Bank, or for any other reasons which cannot reasonably be forecast/foreseen or provided against, and which cannot be predicted with ordinary prudence. “Technical Problem” means any problems or difficulties arising due to the power and electricity failure, computer errors, programming errors, software or hardware errors, computer breakdown, unavailability of Internet connections, communication problems between STAR Network’s server and any ATM, the Bank’s server and ATM network, shutting down of the STAR Network or the Bank’s servers, unavailability of links, corruption of the computer software, problems in ATM or any other service providers’ infrastructure and telecommunication network, problems in any other telecommunication network and any other technology-related problems. c. Activation: Prior to using, the Card must be activated through the Voice Response Unit (VRU) utilizing the telephone number listed in the sticker attached to the new Debit Card or by using the Card and the associated PIN at an ATM. For customers who do not have Social Security Number(SSN), ATM card will be activated after Bank receives positive confirmation from the customer having received ATM Card and PIN. d. PIN Security: The PIN is the Card Holder’s electronic signature. It shall be kept confidential. The Card Holder should memorize the PIN, and a written record of the PIN should not be kept in any form

Test Case

Question: What is the address of the State Bank of India mentioned in the document?

Metric Baseline Score Current Score
answer_accuracy 0.72972174 0.75445130 (+0.02472956)
groundedness 0.91338652 0.88090983 (-0.03247669)
mean_answer_similarity 0.81190961 0.82367326 (+0.01176366)
mean_reciprocal_rank 1.00000000 1.00000000
min_answer_similarity 0.72972174 0.75445130 (+0.02472956)
model_failures 0.00000000 0.00000000
model_generation_failures 0.00000000 0.00000000
model_parse_failures 0.00000000 0.00000000
model_passes 1.00000000 1.00000000
model_retrieval_failures 0.00000000 0.00000000
precision_relevancy 0.88709344 0.88804289 (+0.00094944)
recall_relevancy 0.91114088 0.90498424 (-0.00615665)
rouge_1 0.11111111 0.09589041 (-0.01522070)
rouge_2 0.09859155 0.08333333 (-0.01525822)
rouge_l 0.11111111 0.09589041 (-0.01522070)

Legend:

  • Metric : The evaluation metric name. Shown in bold red if the metric flipped between pass/fail status.
  • Baseline Score : The metric value for the baseline model. Shown in bold green if baseline won, red if lost.
  • Current Score : The metric value for the current model, followed by the delta from baseline in parentheses.
  • Delta Colors : Green = improvement, Orange = regression, Red = metric flipped to fail.
  • Winner Determination : For each metric, the winner is determined by comparing scores while considering the metric's directionality (higher is better vs. lower is better).
Baseline Result Current Result
Model claude-3-7-sonnet-20250219@h2ogpte claude-3-7-sonnet-20250219@h2ogpte
Question What is the address of the State Bank of India mentioned in the document?
Expected answer 460 Park Avenue, New York, NY-10022, USA
Actual Answer According to the document, the State Bank of India New York Branch is located at 460 Park Avenue, New York, NY 10022, USA. This address appears multiple times throughout the document, including on page 44 where it's listed as the mailing address for inquiries (State Bank of India, DRS Department, 460 Park Avenue, New York Branch, NY 10022, U.S.A.), on page 38 where it's provided as the address for reporting lost or stolen cards, and on page 29 where it states that "State Bank of India currently conducts business through branches located at 460 Park Avenue, New York, New York and 19 South LaSalle Street, Chicago and 707 Wilshire Boulevard, Los Angeles." The document also mentions that State Bank of India maintains a representative office at 2001 Pennsylvania Avenue, Washington, D.C. According to the document, the State Bank of India New York Branch is located at 460 Park Avenue, New York, NY 10022, U.S.A. This address appears multiple times throughout the document, including on page 1 where it states "STATE BANK OF INDIA, Deposit Section, 460 Park Avenue, New York Branch, NY 10022, U.S.A." It's also mentioned on page 44 in the contact information section, and on page 52 in the error resolution section where customers are instructed to write to "State Bank of India Deposit Section, 460 Park Avenue, New York, N.Y 10022" for debit card transaction issues. The document also mentions that the bank has other U.S. offices in Chicago (19 South LaSalle Street), Los Angeles (707 Wilshire Boulevard), and a representative office in Washington, D.C. (2001 Pennsylvania Avenue).
Retrieved Context
• Principal: The exact sum of money deposited in an account or the amount of money borrowed. • Right of Set-Off: Right to adjust any overdue debt from any other account held singly or jointly with us. • Substitute Check: means a paper reproduction of an original check that contains an image of the front and back of the original check, bears a MICR line, and is suitable for automated processing in the same manner as the original check. 7 Privacy Notice: FACTS WHAT DOES STATE BANK OF INDIA (SBI-US) DO WITH YOUR PERSONAL INFORMATION? Why? Financial companies choose how they share your personal information. Federal law gives consumers the right to limit some but not all sharing. Federal law also requires us to tell you how we collect, share, and protect your personal information. Please read this notice carefully to understand what we do. What? The types of personal information we collect and share depend on the product or service you have with us. This information can include: Social Security number and income Account balances and payment history Assets and debt When you are no longer our customer, we continue to share your information as described in this notice.
This notice is being provided on behalf of State Bank of India’s U.S offices. State Bank of India currently conducts business through branches located at 460 Park Avenue, New York, New York and 19 South LaSalle Street, Chicago and 707 Wilshire Boulevard, Los Angeles. State Bank of India also maintains a representative office at 2001 Pennsylvania Avenue, Washington, D.C. These
Lost or Stolen Card: If the Card is lost or stolen or someone has transferred funds from Card Holder’s Account without his/ her permission, the Card Holder must report the loss to the STAR Network immediately by calling the 24-hour toll-free number shown below or other numbers that may be numbers provided herein. If the Card Holder notifies the Bank within 2 business days of the loss or theft of the Card, the Card Holder’s loss due to unauthorized use of the Card is limited to $50. If the Card Holder does not notify the Bank within 2 business days of the loss or theft of the Card, and the Bank can prove that earlier notification could have prevented the use of the Card, the Card Holder’s liability for the loss could be as much as $500. If the theft is reported after 60 calendar days of the showing of fraud, the card holder may be liable for all unauthorized charges. If you believe that there has been un-authorized transaction(s) using your debit card, please contact us immediately. A Lost or Stolen Card may be reported by contacting: 1-800-523-4175. This toll-free number is available 24-hours a day. 12. Error Resolution: Disputes of ATM or Merchant Establishment Transactions appearing on the Card Holder’s Periodic Statement are subject to the Error Resolution Procedure as mentioned herein. Your rights to a refund or returned merchandise are generally the same as if you had paid by cash or check, and generally must be resolved with the merchant. a) You will get a monthly statement of your Checking/Money Market Account. If you think your statement or receipt is wrong or if you need more information about a transaction listed on the statement, or if you feel that there are other errors or if you have questions about your debit card transactions, please telephone or write to us at the following address: State Bank of India Deposit Section 460 Park Avenue, New York, N.Y 10022 Tel: (212)521-3200/3342 b) For error resolution, we must hear from you no later than 60 days after we sent the first statement on which the problem or error appeared. When writing to us about the error: • Tell us your name and Account number. • Describe the error or the transfer you are unsure about and explain as clearly as you can why you believe it is an error or why you need more information. • Tell us the dollar amount of the error.
State Bank of India New York Customer Manual for Deposits 39 a. Funds Transfer Services to India Remittances can be sent both in US dollars and in Indian rupees, at your option. At What Rate Are Dollars Converted to Rupees? For remittances in Rupees, the conversion of US dollars into rupees will be done at the rate determined by SBI New York on the day and time of the conversion. For remittances in US dollars to India the funds will be converted into Rupees based on the laws and banking practice prevailing in India. Modes of Transfer of Funds Remittances can be sent through Wire transfer. Please note that Wire transfers in dollars can be sent only to those authorized branches of Banks where SWIFT facilities are available. While all efforts will be made to ensure timely delivery of funds to the beneficiaries, the Bank shall not be under any liability for any errors, negligence, default or any failure on the part of the remitting customer in furnishing vital information for good delivery of the funds. Please read the Terms and Conditions for the remittance mentioned on the remittance forms. b. Transfer of Funds to Other Banks in the U.S. Funds can be transferred to other banks in the U.S. through CHIPS or Fedwire, as we are members of both of these systems. Our ABA routing number is 0260-0914-0 and CHIPS UID is 034282. c. Transfer of Funds to Other Countries We can also transfer your funds to accounts in banks in foreign countries other than India through our correspondents. You may advise us the intermediary bank of your beneficiary’s Bank, wherever required. We can also quote firm exchange rates and effect remittances through our correspondents, in the following currencies: GBP, EUR, CAD, JPY, CHF, AUD, NPR, LKR, BDT Remittances in other currencies can be offered depending upon the volume of business and availability of correspondent relationship in that currency. d. How to Apply for a Remittance Request for remittance services mentioned in a, b, c above should be made through Internet Banking (online and offline) through our website (https://sbinewyork.statebank) or by submission of our prescribed application form. The remittance application form is available on our website https://sbinewyork.statebank. Individual customers can submit the form alongwith a copy of valid photo ID over the counter at the Branch or mail the set to the Branch. The Bank will not accept remittance form through fax or e-mail for individual customers. See “Schedule of Fees & Charges” in this Manual for applicable charges. e. Use of the Remittance Service (the “Service”) The Service is available for use only by individuals and corporate customers who are account holders at the Bank. The Service will permit you to issue non-repetitive orders for us to transfer funds from your account to accounts at other domestic or international financial institutions, in amounts up to any daily limits or individual customer limits which we may establish and change in our discretion
State Bank of India New York Customer Manual for Deposits 17 Portal/In person at Bank/Mail. The cost of Checkbooks is listed in the “Schedule of Fees & Charges”. Generally, checks are paid in the order in which they are received. However, if the funds in the account are insufficient to pay all the checks presented, we shall endeavor to pay as many checks as possible, so that the least number of checks are required to be returned. b. Debit Card: You are eligible for a debit card provided you are a consumer and maintain at least one transaction account with us. A debit card will be issued to you on receipt of a written request from you and the satisfactory completion of the relevant documents. For more details on the service, please read the Debit Card agreement available on page 50. A copy of agreement is also available on our website https://sbinewyork.statebank . One debit card may be linked to your multiple transaction accounts maintained at State Bank of India, New York. Debits and withdrawals in your Money Market Deposit Account will be subject to the limitations described in paragraph 4.2 (e) of this document. The debit card can be used in India and USA only. Usage of cards in any other country for a temporary period may be permitted as per discretion of the Bank. We have recently introduced Debit Card alerts to our customers. We recommend you to opt for an email alert and/or a text alert by registering your details on the following link: https://alert.smsservicesnow.com/Landing/StateBank .
State Bank of India New York Customer Manual for Deposits 6 2. ESTABLISHING A RELATIONSHIP State Bank of India, New York Branch (herein referred as “Bank” or “SBI New York”) is subject to applicable New York and Federal laws and is regulated primarily by the New York State Department of Financial Services and the FDIC. a) By opening an account, you agree to be bound by the terms, conditions, policies and rules governing the account as set forth in this Manual, in the Account Opening Form, or otherwise applied by the Bank, at its discretion. b) Accounts will be opened after verifying your identity and signature. We shall also need from you, among other information / documents, the following:  Your complete address, including street number, apartment number, city, state, zip code, country, telephone/fax numbers. P.O. Box numbers will not suffice. c) The date and place of birth of all account holders. d) Your business/work details including, employer, address, telephone number and fax number. e) Social Security Number (SSN) for consumer accounts and Tax Identification Number/ EIN for business accounts.
q. Unauthorized Transactions: Tell us at once if you believe your Card has been lost or stolen, or if you believe that an electronic fund transfer has been made without your permission. Telephoning is the best way of keeping your possible losses down. If you tell us within 2 business days after you learn of the loss or theft of your Card, you can lose no more than $50 if someone used your Card without your permission.) If you do NOT tell us within 2 business days after you learn of the loss or theft of your Card, and we can prove we could have stopped someone from using your Card without your permission if you had told us, you could lose as much as $500. Also, if your statement shows transfers that you did not make, including those made by card, code or other means, tell us at once. If you do not tell us within 60 days after the statement was mailed to you, you may not get back any money you lost after the 60 days if we can prove that we could have stopped someone from taking the money if you had told us in time. If a good reason (such as a long trip or a hospital stay) kept you from telling us, we will extend the time periods. A Lost or Stolen Card may be reported by contacting: 1-800-523-4175. This toll-free number is available 24-hours a day. In case you wish to send us letter, our address is State Bank of India, Deposit Section, 460 Park Avenue, New York, NY 10022, USA. For purposes of these disclosures, our business days are Monday through Friday. All federal and state bank holidays are not included. Kindly read the Debit Card Agreement available as Annexure B on page 49 for more information relating to Debit Card Services. 10. Remittances: The minimum amount for initiating a remittance is USD 100.00 or its equivalent in other currencies.
State Bank of India New York Customer Manual for Deposits 26 5.2 Inactive Accounts / Dormant Accounts An account in which there has been no transaction for 2 years is considered inactive and an account in which there has been no transaction for 3 years is considered dormant. An account in which there has been no activity or written correspondence from the account holder for three consecutive years is considered an abandoned property under New York State Law. This period may vary for other states in the United States. For any account that is owned by residents of other states, the state law may require escheatment of abandoned property in accordance with its own reporting requirements. For non-U.S. customers, New York State Law will apply. No debits are permitted in inactive/ dormant accounts unless the account is activated by the customer. The process of account activation is given below: You are required to submit signed Customer Information Update form for activating inactive/dormant accounts. All activation requests should be accompanied with valid ID document, address proof and relevant documents. Account activation requests may be submitted in Branch, mail or sending signed request through online banking application. Upon receipt of your request, we will call your registered number to confirm the details given in your request. In case we are unable to reach you we will put your request on hold and inform you through email. Incomplete requests, requests received without requisite documents will not be accepted for activation. During the update of your information and activation process, bank will process a one cent entry (debit/credit transaction) in your account. CDs that renew automatically are deemed abandoned when there is no depositor contact for three years after the first maturity date following the last depositor contact. Funds in abandoned accounts are required to be turned over to the State (i.e., escheated). Information about property escheated to the State of New York may be obtained from the Office of the State Comptroller (https://www.osc.state.ny.us) or by calling from within New York State: 1-800-221-9311 or from outside of New York State: 1-518-270-2200 or by writing to the Office of the State Comptroller at the Alfred E. Smith Office Building, Albany, New York 12236. At your request, we will provide you with the required data to process your claim. Before surrendering the funds to the State of New York, we will notify you at your last recorded address and may also publish a notice in a newspaper in New York, if required by law. 5.3 Interest Withholding Tax: Interest owing to you could be subject to backup withholding if you have not given the Bank proper identification or forms or if otherwise required by IRS. FATCA withholding/ interest withholding will also apply if a foreign entity/ consumer does not re-certify. For current information, please contact your tax advisor or refer to the IRS website (https://www.irs.gov). 5.4 Interest Reporting: We are required by law to report to the Internal Revenue Service, all interest of $10 or more earned by you during a calendar year. At the beginning of the calendar year, we will advise you on Form 1099 or Form 1042 (NRA customers), the total amount of interest credited /paid during the previous year, any amount withheld and any interest penalty due to early withdrawal. Interest will be reported for tax purposes in the name and Social Security Number (SSN) or Employer Identification Number (EIN) of the primary depositor, i.e., the first name on the account in case of a joint account. If such first account holder does not have SSN or EIN, interest reporting will be done
State Bank of India New York Customer Manual for Deposits 4 CONTENTS 1 State Bank of India New York Contact Information 5 2 Establishing a Relationship 6 3 Categories of Customer Accounts 7 4 Accounts of Businesses 8 5 Types of Accounts 9 6 Checking Account 9 7 Money Market Deposit Account 11 8 Certificate of Deposit 13 9 Senior Citizen Certificate of Deposit 15 10 Operations in Checking and Money Market Deposit Accounts 16 11 Mode of transactions/document submission 22 12 Important Information about Substitute Check and your rights 24 13 Additional Information on deposit Accounts 25 14 Banking Terminology 27 15 Privacy Notice 28 16 Funds Availability 31 17 Electronic Fund Transfers 34 18 Remittances 38 19 Internet Banking / YONO US Portal 43 20 Schedule of Fees and Charges 45 21 Debit Card Agreement (Annexure B) 48
State Bank of India New York Customer Manual for Deposits 44 decide not to agree to the terms and conditions discussed therein, you may not use Internet Banking. The Online Banking Terms of Service govern Internet Banking and supersede any inconsistent agreements or requirements. However, the terms of this Manual will govern and supersede any inconsistent statements contained in the Online Banking Terms of Service with regard to the (i) types of accounts that you may have with the Bank and the terms of those accounts; (ii) Bank’s rules governing wire transfers or international remittances including our liability to you and how we will inform you about the costs and fees and exchange rates for remittances and your ability to stop the remittance; (iii) Bank’s privacy and sharing of information policies and (iv) governing law of our agreement. Note: The customer is required to give full name (no initials) while creating recipient for the purpose of sending remittances. Thank You IMPORTANT If there is a conflict between the information stated in any Bank agreement or brochure/Manual (including this one) and something said by one of our employees, the written information will be used to resolve the conflict. The Bank may refuse to follow any instructions it believes is not permitted under law or regulation. The Manual is governed by and shall be interpreted under the laws of the State of New York. Any litigation shall be filed and heard only in the federal or state courts located in New York. State Bank of India reserves the right to change the Manual as required by law or Bank policy. Such changes may be displayed on the notice board in the Bank, posted on the website (https://sbinewyork.statebank) or advised to customers by mail. If you have any questions regarding the information provided in the Manual or your account relationship, you may contact us by mail by writing to the following address: State Bank of India DRS Department 460 Park Avenue New York Branch, NY 10022 U.S.A. Tel : General: (212)521-3200
• Principal: The exact sum of money deposited in an account or the amount of money borrowed. • Right of Set-Off: Right to adjust any overdue debt from any other account held singly or jointly with us. • Substitute Check: means a paper reproduction of an original check that contains an image of the front and back of the original check, bears a MICR line, and is suitable for automated processing in the same manner as the original check. 7 Privacy Notice: FACTS WHAT DOES STATE BANK OF INDIA (SBI-US) DO WITH YOUR PERSONAL INFORMATION? Why? Financial companies choose how they share your personal information. Federal law gives consumers the right to limit some but not all sharing. Federal law also requires us to tell you how we collect, share, and protect your personal information. Please read this notice carefully to understand what we do. What? The types of personal information we collect and share depend on the product or service you have with us. This information can include: Social Security number and income Account balances and payment history Assets and debt When you are no longer our customer, we continue to share your information as described in this notice.
Lost or Stolen Card: If the Card is lost or stolen or someone has transferred funds from Card Holder’s Account without his/ her permission, the Card Holder must report the loss to the STAR Network immediately by calling the 24-hour toll-free number shown below or other numbers that may be numbers provided herein. If the Card Holder notifies the Bank within 2 business days of the loss or theft of the Card, the Card Holder’s loss due to unauthorized use of the Card is limited to $50. If the Card Holder does not notify the Bank within 2 business days of the loss or theft of the Card, and the Bank can prove that earlier notification could have prevented the use of the Card, the Card Holder’s liability for the loss could be as much as $500. If the theft is reported after 60 calendar days of the showing of fraud, the card holder may be liable for all unauthorized charges. If you believe that there has been un-authorized transaction(s) using your debit card, please contact us immediately. A Lost or Stolen Card may be reported by contacting: 1-800-523-4175. This toll-free number is available 24-hours a day. 12. Error Resolution: Disputes of ATM or Merchant Establishment Transactions appearing on the Card Holder’s Periodic Statement are subject to the Error Resolution Procedure as mentioned herein. Your rights to a refund or returned merchandise are generally the same as if you had paid by cash or check, and generally must be resolved with the merchant. a) You will get a monthly statement of your Checking/Money Market Account. If you think your statement or receipt is wrong or if you need more information about a transaction listed on the statement, or if you feel that there are other errors or if you have questions about your debit card transactions, please telephone or write to us at the following address: State Bank of India Deposit Section 460 Park Avenue, New York, N.Y 10022 Tel: (212)521-3200/3342 b) For error resolution, we must hear from you no later than 60 days after we sent the first statement on which the problem or error appeared. When writing to us about the error: • Tell us your name and Account number. • Describe the error or the transfer you are unsure about and explain as clearly as you can why you believe it is an error or why you need more information. • Tell us the dollar amount of the error.
This notice is being provided on behalf of State Bank of India’s U.S offices. State Bank of India currently conducts business through branches located at 460 Park Avenue, New York, New York and 19 South LaSalle Street, Chicago and 707 Wilshire Boulevard, Los Angeles. State Bank of India also maintains a representative office at 2001 Pennsylvania Avenue, Washington, D.C. These
State Bank of India New York Customer Manual for Deposits 30 offices are collectively referred to as SBI-US in this Notice. What we do How does SBI–US protect my personal information? To protect your personal information from unauthorized access and use, we use security measures that comply with federal law. SBI-US has established physical, technological and procedural systems and controls for protecting the confidentiality of your personal information. SBI-US employees undergo training on protecting customer information. How does SBI–US collect my personal information? We collect your personal information, for example, when you Open an account or deposit money Pay your bills or apply for a loan Use your credit or debit card We also collect your personal information from credit bureaus. Why can't I limit all sharing? Federal law gives you the right to limit only Sharing for affiliates’ everyday business purposes- information about your creditworthiness Affiliates from using your information to market to you Sharing for non-affiliates to market to you State laws and individual companies may give you additional rights to limit sharing. See below for more on your rights under state law.
State Bank of India New York Customer Manual for Deposits 17 Portal/In person at Bank/Mail. The cost of Checkbooks is listed in the “Schedule of Fees & Charges”. Generally, checks are paid in the order in which they are received. However, if the funds in the account are insufficient to pay all the checks presented, we shall endeavor to pay as many checks as possible, so that the least number of checks are required to be returned. b. Debit Card: You are eligible for a debit card provided you are a consumer and maintain at least one transaction account with us. A debit card will be issued to you on receipt of a written request from you and the satisfactory completion of the relevant documents. For more details on the service, please read the Debit Card agreement available on page 50. A copy of agreement is also available on our website https://sbinewyork.statebank . One debit card may be linked to your multiple transaction accounts maintained at State Bank of India, New York. Debits and withdrawals in your Money Market Deposit Account will be subject to the limitations described in paragraph 4.2 (e) of this document. The debit card can be used in India and USA only. Usage of cards in any other country for a temporary period may be permitted as per discretion of the Bank. We have recently introduced Debit Card alerts to our customers. We recommend you to opt for an email alert and/or a text alert by registering your details on the following link: https://alert.smsservicesnow.com/Landing/StateBank .
State Bank of India New York Customer Manual for Deposits 4 CONTENTS 1 State Bank of India New York Contact Information 5 2 Establishing a Relationship 6 3 Categories of Customer Accounts 7 4 Accounts of Businesses 8 5 Types of Accounts 9 6 Checking Account 9 7 Money Market Deposit Account 11 8 Certificate of Deposit 13 9 Senior Citizen Certificate of Deposit 15 10 Operations in Checking and Money Market Deposit Accounts 16 11 Mode of transactions/document submission 22 12 Important Information about Substitute Check and your rights 24 13 Additional Information on deposit Accounts 25 14 Banking Terminology 27 15 Privacy Notice 28 16 Funds Availability 31 17 Electronic Fund Transfers 34 18 Remittances 38 19 Internet Banking / YONO US Portal 43 20 Schedule of Fees and Charges 45 21 Debit Card Agreement (Annexure B) 48
State Bank of India New York Customer Manual for Deposits IRS, etc.) Printing and mailing of checks. First check book of up-to 50 leaves free thereafter the actual cost charged by the supplier Actual cost charged by the supplier Replacement/reimbursement fee for stop payments on official and certified checks $15 $15 Collection of checks, draft or other instruments drawn on banks outside the USA. $50 $50 Uncollected deposit items (checks/drafts negotiated through us which are drawn on other banks and are returned unpaid) $50 $50 Balance confirmation certificate $5 $5 For any other account information sought by the customer. Charges per instance per document: - For current calendar year - For previous calendar year - For all other years (up to 5 previous years) $ 5 $ 10 $ 15 $ 5 $ 10 $ 15 C. REMITTANCE FEES Rupee remittances Wire Transfer (Initiated through Online Banking) FREE* Rupee remittances –Wire Transfer (Other than Initiated through Online Banking) Up to US Dollar 999 or equivalent US Dollar 1000 or above $5 Free $5 Free Wire transfer in U.S. dollars to Any Bank $25 (For both Online on YONO and offline at Branch) $25 Wire transfer in currencies other than USD and INR For less than $2,500.00 $2,500.00 and above $35 Free $35 Free Cancellation of or issue of duplicate draft/refund of funds for lost draft. (In $25* $25*
State Bank of India New York Customer Manual for Deposits 39 a. Funds Transfer Services to India Remittances can be sent both in US dollars and in Indian rupees, at your option. At What Rate Are Dollars Converted to Rupees? For remittances in Rupees, the conversion of US dollars into rupees will be done at the rate determined by SBI New York on the day and time of the conversion. For remittances in US dollars to India the funds will be converted into Rupees based on the laws and banking practice prevailing in India. Modes of Transfer of Funds Remittances can be sent through Wire transfer. Please note that Wire transfers in dollars can be sent only to those authorized branches of Banks where SWIFT facilities are available. While all efforts will be made to ensure timely delivery of funds to the beneficiaries, the Bank shall not be under any liability for any errors, negligence, default or any failure on the part of the remitting customer in furnishing vital information for good delivery of the funds. Please read the Terms and Conditions for the remittance mentioned on the remittance forms. b. Transfer of Funds to Other Banks in the U.S. Funds can be transferred to other banks in the U.S. through CHIPS or Fedwire, as we are members of both of these systems. Our ABA routing number is 0260-0914-0 and CHIPS UID is 034282. c. Transfer of Funds to Other Countries We can also transfer your funds to accounts in banks in foreign countries other than India through our correspondents. You may advise us the intermediary bank of your beneficiary’s Bank, wherever required. We can also quote firm exchange rates and effect remittances through our correspondents, in the following currencies: GBP, EUR, CAD, JPY, CHF, AUD, NPR, LKR, BDT Remittances in other currencies can be offered depending upon the volume of business and availability of correspondent relationship in that currency. d. How to Apply for a Remittance Request for remittance services mentioned in a, b, c above should be made through Internet Banking (online and offline) through our website (https://sbinewyork.statebank) or by submission of our prescribed application form. The remittance application form is available on our website https://sbinewyork.statebank. Individual customers can submit the form alongwith a copy of valid photo ID over the counter at the Branch or mail the set to the Branch. The Bank will not accept remittance form through fax or e-mail for individual customers. See “Schedule of Fees & Charges” in this Manual for applicable charges. e. Use of the Remittance Service (the “Service”) The Service is available for use only by individuals and corporate customers who are account holders at the Bank. The Service will permit you to issue non-repetitive orders for us to transfer funds from your account to accounts at other domestic or international financial institutions, in amounts up to any daily limits or individual customer limits which we may establish and change in our discretion
State Bank of India New York Customer Manual for Deposits 44 decide not to agree to the terms and conditions discussed therein, you may not use Internet Banking. The Online Banking Terms of Service govern Internet Banking and supersede any inconsistent agreements or requirements. However, the terms of this Manual will govern and supersede any inconsistent statements contained in the Online Banking Terms of Service with regard to the (i) types of accounts that you may have with the Bank and the terms of those accounts; (ii) Bank’s rules governing wire transfers or international remittances including our liability to you and how we will inform you about the costs and fees and exchange rates for remittances and your ability to stop the remittance; (iii) Bank’s privacy and sharing of information policies and (iv) governing law of our agreement. Note: The customer is required to give full name (no initials) while creating recipient for the purpose of sending remittances. Thank You IMPORTANT If there is a conflict between the information stated in any Bank agreement or brochure/Manual (including this one) and something said by one of our employees, the written information will be used to resolve the conflict. The Bank may refuse to follow any instructions it believes is not permitted under law or regulation. The Manual is governed by and shall be interpreted under the laws of the State of New York. Any litigation shall be filed and heard only in the federal or state courts located in New York. State Bank of India reserves the right to change the Manual as required by law or Bank policy. Such changes may be displayed on the notice board in the Bank, posted on the website (https://sbinewyork.statebank) or advised to customers by mail. If you have any questions regarding the information provided in the Manual or your account relationship, you may contact us by mail by writing to the following address: State Bank of India DRS Department 460 Park Avenue New York Branch, NY 10022 U.S.A. Tel : General: (212)521-3200
State Bank of India New York Customer Manual for Deposits 23 requests (in case of New Accounts) 2. Account opening forms (Corporate) Mail* 3. Account activation request Mail*, Online Banking secure message (signed requests) 4. Account Freeze/ Unfreeze request Mail*, Online Banking secure message (signed requests) 5. CIP updation form Mail*, Online Banking secure message (signed requests) 6. Change in authorized signatory Mail*, Online Banking secure message (signed requests) 7 Address change request Mail*, Online Banking secure message (signed requests) 8 Email address change Mail*, Online Banking secure message (signed requests) 9 Phone number changes Mail*, Online Banking secure message (signed requests) 10 Stop payment request Mail*, Online Banking secure message (signed requests), Phone (followed by signed request), Check can be stopped online through “YONO US Portal” 11 INB user id unlock request* Mail*, Email from registered Email address 12 INB password reset request* Mail* (Not applicable for new “YONO US Portal”) 13 INB security question reset* Mail* (Not applicable for new “YONO US Portal”) 14 INB Sure key regeneration request^ Mail* (Not applicable for new “YONO US Portal”) 15 INB OTP unlock Request Mail*, Email from registered Email address 16 Addition / deletion of joint holders (Individual consumers) Mail*, Online Banking secure message (signed requests) 17 Designation of beneficiary (DOB) (Individual consumers) Mail*,Online Banking secure message (signed requests) 18. Balance confirmation (Individual consumers) Mail*, Online Banking secure message (signed requests) 19 Request for account statements/ CD safekeeping’s (if soft copy requested, to be sent through Zix secure- email)(Individual consumers) Mail*, Online Banking secure message (signed requests) 20 Request for interest certificates Mail*, Online Banking secure message

Test Case

Question: What is the minimum deposit required for opening a Money Market Deposit Account?

Metric Baseline Score Current Score
answer_accuracy 0.84469146 0.84367886 (-0.00101260)
groundedness 0.90901154 0.88558704 (-0.02342450)
mean_answer_similarity 0.89617459 0.89288292 (-0.00329167)
mean_reciprocal_rank 1.00000000 1.00000000
min_answer_similarity 0.84469146 0.84367886 (-0.00101260)
model_failures 0.00000000 0.00000000
model_generation_failures 0.00000000 0.00000000
model_parse_failures 0.00000000 0.00000000
model_passes 1.00000000 1.00000000
model_retrieval_failures 0.00000000 0.00000000
precision_relevancy 0.86051332 0.88092760 (+0.02041428)
recall_relevancy 0.92245865 0.92245865
rouge_1 0.34482759 0.31746032 (-0.02736727)
rouge_2 0.33333333 0.30645161 (-0.02688172)
rouge_l 0.34482759 0.31746032 (-0.02736727)

Legend:

  • Metric : The evaluation metric name. Shown in bold red if the metric flipped between pass/fail status.
  • Baseline Score : The metric value for the baseline model. Shown in bold green if baseline won, red if lost.
  • Current Score : The metric value for the current model, followed by the delta from baseline in parentheses.
  • Delta Colors : Green = improvement, Orange = regression, Red = metric flipped to fail.
  • Winner Determination : For each metric, the winner is determined by comparing scores while considering the metric's directionality (higher is better vs. lower is better).
Baseline Result Current Result
Model claude-3-7-sonnet-20250219@h2ogpte claude-3-7-sonnet-20250219@h2ogpte
Question What is the minimum deposit required for opening a Money Market Deposit Account?
Expected answer The minimum deposit required for opening a Money Market Deposit Account is the minimum daily balance requirement for the account.
Actual Answer According to the document, the minimum deposit required for opening a Money Market Deposit Account varies based on customer type and residency status: For US Resident Customers: - Consumer Accounts: $2,500 - Business/Associations: $50,000 For Non-US Resident Customers: - Consumer Accounts: $25,000 - Business/Associations: $100,000 This information is found on page 11 of the document, which states: "The minimum deposit required for opening an account is the minimum daily balance requirement for the account which is tabled below." The document then provides a table showing these minimum balance requirements for different customer categories. According to the document, the minimum deposit required for opening a Money Market Deposit Account varies based on customer type and residency status: For US Resident Customers: - Consumer Account: $2,500 - Business/Associations: $50,000 For Non-US Resident Customers: - Consumer Account: $25,000 - Business/Associations: $100,000 This information is found on page 11 of the State Bank of India New York Customer Manual for Deposits, which states: "The minimum deposit required for opening an account is the minimum daily balance requirement for the account which is tabled below." The document then provides the table with these specific minimum balance requirements for different customer categories.
Retrieved Context
Notice Regarding Money Market Deposit Accounts: If the Account is a Money Market Deposit Account, certain limitations on transactions apply. A maximum of 6 transfers or withdrawals, or a combination of such transfers or withdrawals, are permitted during a calendar month or statement cycle of at least four weeks, including transfers or withdrawal by check, ACH to third parties, and/or Debit Card transactions with Merchant Establishments. However, any number of the following transactions using the Debit Card at an ATM are permitted: cash withdrawals; transfers of funds between your own Accounts held with the Bank; and balance inquiries.
e. Withdrawals: When writing checks on your Checking or Money Market Deposit Account, please ensure that:  The amount is stated in US dollars;  The amount is within the available balance in your account. The available balance in your account may be affected because of other transactions, including debit card transactions. Checks which exceed the available balance in your account may be returned unpaid and are subject to a charge as indicated in “Schedule of Fees & Charges”. The Bank reserves the right to pay a stale check, i.e., a check more than 6 months old. A request for a withdrawal or transfer may not be honored in circumstances such as, but not limited to, these:  If the Bank has instructions to the contrary from a joint account holder. In such cases the signatures of all account holders would be required on any authorization.  If a court order/legal process prohibits the Bank from doing so.  If the Bank suspects fraud or violation, including money laundering.  If there is a dispute to the Bank’s knowledge.  If the account is pledged as collateral and has been set-off against overdue debts.  If the account is seized by State /Federal agency.  If the payee is not properly identified to us.  If the withdrawal/transfer exceeds the permissible number (e.g., more than 6 checks per statement period in Money Market Deposit Accounts).
3.5 Limited Liability Company (“LLC”) The following documents are required:  The LLC’s organizational documents (Articles of Organization and Operating Agreement)  The names of all the members and managers of the LLC shall be provided with all the same identification as required for corporations above.  A certified copy of a resolution of the Managers of the LLC providing all the same information required in the corporate resolution set forth above.  Certificate of Beneficial owners, wherever applicable. 4. TYPES OF ACCOUNTS Three types of deposit accounts may be opened:  Checking Account  Money Market Deposit (MMD) Account  Certificate of Deposit (CD) Account 4.1 Checking Account This is a non-interest bearing account with no restrictions on the number of withdrawals or credits. However, Bank has the discretion to pay interest on a product variant. The minimum deposit required for opening an account is the minimum daily balance requirement for the account which is tabled below. The daily minimum balance required to be maintained to avoid monthly service charges are as follows:
• Principal: The exact sum of money deposited in an account or the amount of money borrowed. • Right of Set-Off: Right to adjust any overdue debt from any other account held singly or jointly with us. • Substitute Check: means a paper reproduction of an original check that contains an image of the front and back of the original check, bears a MICR line, and is suitable for automated processing in the same manner as the original check. 7 Privacy Notice: FACTS WHAT DOES STATE BANK OF INDIA (SBI-US) DO WITH YOUR PERSONAL INFORMATION? Why? Financial companies choose how they share your personal information. Federal law gives consumers the right to limit some but not all sharing. Federal law also requires us to tell you how we collect, share, and protect your personal information. Please read this notice carefully to understand what we do. What? The types of personal information we collect and share depend on the product or service you have with us. This information can include: Social Security number and income Account balances and payment history Assets and debt When you are no longer our customer, we continue to share your information as described in this notice.
IMPORTANT INFORMATION ABOUT PROCEDURES FOR OPENING A NEW ACCOUNT CIP and Beneficial Owners Notice: To help the government fight the funding of terrorism and money laundering activities, Federal law requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account, and the beneficial owners of legal entity customers. What this means for you: When you open an account, we will ask for your name, address, date of birth, employment details and other information that will allow us to identify you. We may also ask for your driver’s license or other identifying documents. We may also use the services of third party service providers to verify your identity based on information provided by you. Effective May 11, 2018, new rules under the Bank Secrecy Act will aid the government in the fight against crimes to evade financial measures designed to combat terrorism and other national security threats. Each time an account is opened for a covered Legal Entity, we are required to ask you for identifying information (name, address, date of birth, social security number as well as identification documents) for:  Each individual that has beneficial ownership (25% or more); and,  One individual that has significant managerial control, of the Legal Entity.
m. Change of Address, e-mail address, telephone number and account details: Please update us promptly of any change of address, e-mail address, telephone number or account details and include a complete list of all your accounts and account numbers. Please use Customer Information Update Form (CIP Form) available on our website for update of any information and submit the same along with copy of valid Photo ID and Address proof. Bank reserves the right to ask for additional documents on a case to case basis. If you do not inform us of the changes, mailing of account statements may be withheld and the accounts may be blocked for further transactions until we hear from you. Bank may ask you to update your account information through remediation form as and when there is any material change, or whenever bank requires. If this information is not provided within a reasonable time (30 days), the Bank may decide to decline further transactions in the account and may also close the account if not received the same in subsequent 60 days. For proof of the new address, a utility bill, State issued ID with current address, or Letter issued by Government Authority to the current address to give effect to your change of address request may be provided. All requests for Change of Address, e-mail address, telephone number and account details should be submitted along with a copy of valid ID document. Bank may also call you on your registered number for confirming the details given on the request. If your signed request for email/phone number change is received through modes other than online banking and over the counter, there will be a 30 day debit restriction on your account. n. Closing an Account: You may close your Checking /Money Market Deposit Account at any time provided the funds on deposit are not held against uncollected deposited checks or attached by any legal action. A service charge would apply to Checking/Money Market Deposit Accounts closed within three months of opening. If a hold is placed on your account because of a pre-approved merchant transaction done using your debit card, the Bank may not close the account until the transaction is completed or the hold is removed.
d. Interest Payment Method: When opening the CD, you may opt to receive the periodic interest payments by any one of the following: • Through ACH/Wire transfer to your designated bank account • By an official check through regular mail • In your Checking or Money Market Deposit Account with us. If you opt to receive compounded interest (cumulative), we will pay you interest along with the principal at the time of maturity of the CD. e. Minimum Balance Requirement: The minimum amount required for each CD may vary for US resident depositors and those based outside the USA. It may also vary for consumer and accounts of businesses. Currently, the following are the minimum balances:
c. Deposits: You can make deposits: • By check in person, during regular banking hours at the teller counter at the Bank. (Our regular banking hours are 9 AM - 4 PM ET Monday through Friday. Cash services are available only up to 3 PM ET) • By check in mail • By wire transfer • By pre-authorized credit such as for Social Security benefits • By cash in person, at our discretion Cash deposits may be subject to the Bank Secrecy Act reporting provisions. You may be asked to show a valid state id for cash deposit. There are no restrictions on the number of deposits in both Checking and Money Market Deposit Accounts. Funds will be made available in Checking Accounts as described in section 8 “Funds Availability.” The Bank maintains the right, for any reason or for no reason, to refuse to accept a deposit, or return in full or in part any deposit. Note - Check received in mail on any given day will be processed only on next business day. d. The Bank as Collecting Agent: The Bank accepts items for deposit or collection, as your collecting agent, subject to the following conditions:  All items will be credited subject to actual payment.  If payment is not received and the instrument is returned unpaid, the Bank shall have the right to charge back the item to your account. A service charge will also be levied for checks returned unpaid.
b) The Bank shall be entitled to terminate the Card with immediate effect without notice and the Card shall be returned upon the occurrence of any of the following events: • Card Holder’s failure to comply with the terms and conditions herein. • The Card Holder’s default under an agreement or commitment entered into with the Bank. • The Card Holder becomes the subject of any bankruptcy, insolvency proceedings or proceedings of the similar nature. • Demise of the Cardholder. • Failure to maintain minimum required balance to cover transactions. s. Error Resolution: Disputes of ATM or Merchant Establishment Transactions appearing on the Card Holder’s Periodic Statement are subject to the Error Resolution Procedure as mentioned herein. Your rights to a refund or returned merchandise are generally the same as if you had paid by cash or check, and generally must be resolved with the merchant. You will get a monthly statement of your Checking/Money Market account, if the account is not inactive or dormant, which will contain the details of your Debit Card transactions. If you think your statement or receipt is wrong or if you need more information about a transaction listed on the statement, or if you feel that there are other errors or if you have questions about your debit card transactions, please follow the procedures listed here: a) Initial and annual error resolution In Case of Errors or Questions About Your Electronic Transfers telephone or write to us at the following address: State Bank of India Deposit Section 460 Park Avenue, New York, N.Y 10022 Tel: (212)521-3342/3318 as soon as you can, if you think your statement or receipt is wrong or if you need more information about a transfer listed on the statement or receipt. We must hear from you no later than 60 days after we sent the FIRST statement on which the problem or error appeared.
State Bank of India New York Customer Manual for Deposits 45 B. Service Fees & Charges Consumer Accounts Accounts of Business/ Associations Excess Transaction charges – Each transaction in Money Market Accounts in excess of 6 transfers or withdrawals or a combination of these in a statement period. $5 $5 Checks returned or paid against insufficient or unavailable funds # $10 $15 SCHEDULE OF FEES & CHARGES Minimum Balance Requirements & Service Charges Checking Account Money Market Account Consumer A/C Business/Associations Consumer A/c Business/Associations USA Resident Minimum daily balance 1,000 $ 20,000 $2,500 $ 50,000 Monthly service charge (if the balance falls below minimum on any day of the month) $15* (effective 01/01/2020) $ 50 $20* (effective 01/01/2020) $ 50 Non-USA Resident Minimum daily balance Opened at the sole discretion of the Bank and as per its Policy. Minimum balance is $10,000 Opened at the sole discretion of the Bank and as per its Policy. Minimum balance is $ 50,000 Opened at the sole discretion of the Bank and as per its Policy. Minimum balance is $ 25,000 Opened at the sole discretion of the Bank and as per its Policy. Minimum balance is $ 100,000 Monthly service charge (if the balance falls below minimum on any day of the month) $20* (effective 01/01/2020) $50 $25* (effective 01/01/2020) $50 Note : Consumer accounts = Accounts of natural persons
Notice Regarding Money Market Deposit Accounts: If the Account is a Money Market Deposit Account, certain limitations on transactions apply. A maximum of 6 transfers or withdrawals, or a combination of such transfers or withdrawals, are permitted during a calendar month or statement cycle of at least four weeks, including transfers or withdrawal by check, ACH to third parties, and/or Debit Card transactions with Merchant Establishments. However, any number of the following transactions using the Debit Card at an ATM are permitted: cash withdrawals; transfers of funds between your own Accounts held with the Bank; and balance inquiries.
State Bank of India New York Customer Manual for Deposits 45 B. Service Fees & Charges Consumer Accounts Accounts of Business/ Associations Excess Transaction charges – Each transaction in Money Market Accounts in excess of 6 transfers or withdrawals or a combination of these in a statement period. $5 $5 Checks returned or paid against insufficient or unavailable funds # $10 $15 SCHEDULE OF FEES & CHARGES Minimum Balance Requirements & Service Charges Checking Account Money Market Account Consumer A/C Business/Associations Consumer A/c Business/Associations USA Resident Minimum daily balance 1,000 $ 20,000 $2,500 $ 50,000 Monthly service charge (if the balance falls below minimum on any day of the month) $15* (effective 01/01/2020) $ 50 $20* (effective 01/01/2020) $ 50 Non-USA Resident Minimum daily balance Opened at the sole discretion of the Bank and as per its Policy. Minimum balance is $10,000 Opened at the sole discretion of the Bank and as per its Policy. Minimum balance is $ 50,000 Opened at the sole discretion of the Bank and as per its Policy. Minimum balance is $ 25,000 Opened at the sole discretion of the Bank and as per its Policy. Minimum balance is $ 100,000 Monthly service charge (if the balance falls below minimum on any day of the month) $20* (effective 01/01/2020) $50 $25* (effective 01/01/2020) $50 Note : Consumer accounts = Accounts of natural persons
e. Withdrawals: When writing checks on your Checking or Money Market Deposit Account, please ensure that:  The amount is stated in US dollars;  The amount is within the available balance in your account. The available balance in your account may be affected because of other transactions, including debit card transactions. Checks which exceed the available balance in your account may be returned unpaid and are subject to a charge as indicated in “Schedule of Fees & Charges”. The Bank reserves the right to pay a stale check, i.e., a check more than 6 months old. A request for a withdrawal or transfer may not be honored in circumstances such as, but not limited to, these:  If the Bank has instructions to the contrary from a joint account holder. In such cases the signatures of all account holders would be required on any authorization.  If a court order/legal process prohibits the Bank from doing so.  If the Bank suspects fraud or violation, including money laundering.  If there is a dispute to the Bank’s knowledge.  If the account is pledged as collateral and has been set-off against overdue debts.  If the account is seized by State /Federal agency.  If the payee is not properly identified to us.  If the withdrawal/transfer exceeds the permissible number (e.g., more than 6 checks per statement period in Money Market Deposit Accounts).
State Bank of India New York Customer Manual for Deposits 11 age or older. For every additional withdrawal or check beyond above mentioned number in a statement cycle, $5 will be recovered e. Restriction on the number of credits/deposits: No restriction. f. Availability of account statement and frequency of monthly statement: Account statements at monthly intervals will be provided. 4.2 Money Market Deposit (MMD) Account This is an interest-bearing account from which withdrawals can be made in accordance with certain prescribed restrictions. Tiered interest rate is available on money market accounts based on the balances available in the account. The minimum deposit required for opening an account is the minimum daily balance requirement for the account which is tabled below. The daily minimum balances required to be maintained to avoid monthly service charges are as follows: Consumer Account Business/ Associations US Resident Customer $2,500 $50,000 Non-US Resident Customer $25,000 $ 100,000 A minimum balance service charge as listed in our “Schedule of Fees & Charges” in this Manual will be imposed every month if the balance in the account falls below the required minimum during any day of a calendar month. If the balance is less than the amount required to be deducted as service charge, the so available balance will be treated as service charges and the account may be closed forthwith, with notice to the customer at the last available address in our records. No overdraft is permitted under any circumstances in this account. Any check presented with insufficient funds will be dishonored. Service charges are listed in our “Schedule of Fees & Charges” in this Manual. A Money Market Deposit Account for Non-US Resident consumer or business/association would be opened at the sole discretion of the Bank and as per its policy, either on the same terms and conditions as for U.S- resident customers or on mutually agreed terms and conditions. Monthly service charges are listed in our “Schedule of Fees & Charges” in this Manual. Early closure fees will apply if you close your account within three months of opening. Other Features of Money Market Deposit Accounts a. Interest Rate: Tiered interest rate is available on MMD accounts based on the balances available in account. Interest rate on these accounts may vary from time to time. The Bank reserves the right to change the rate at any time. There is no limitation as to the percentage amount the interest rate may vary. You may visit our website https://sbinewyork.statebank or call (212) 521-3200 for information on the current rate of interest. b. Payment of Interest: Interest will accrue on your day-end balance. Interest earned during the month will be credited to the account at the close of business on the last business day of the month and will be made available to you on the first business day of the following month. There is no minimum balance required to earn the stated annual percentage yield. For non-cash deposits made into your account (for example checks) interest begins to accrue no later than the business day we receive credit for the deposit of the non-cash items. If the account is closed during the middle of a
State Bank of India New York Customer Manual for Deposits 12 month, accrued interest will be credited and paid. Accrued interest will be credited to your account prior to closing the same. c. Compounding Method: Your Money Market Deposit Account earn simple interest on a 360 days’ basis which accrues daily based on the end-of-the-day balance. The daily balance method will be used to calculate the interest on the account. This method applies a daily periodic rate to the principal in the account each day. Although interest accrues daily, you may not withdraw the earnings until the first business day of the following calendar month, when the same is credited into the account, provided the account is not closed. If not withdrawn, interest is added to and becomes part of the account balance. Since interest is added to your total account balance, any credited interest in the account is, effectively, compounded monthly. d. Annual Percentage Yield: The annual percentage yield earned (APYE) for the statement period will be advised with each monthly statement account. e. Withdrawals: A maximum of 6 transfers or withdrawals, or a combination of such transfers or withdrawals, are permitted during a calendar month or statement cycle of at least four weeks. For the purpose of this limit, preauthorized, automatic transfers (including but not limited to transfer from savings deposit for overdraft protection or for direct bill payments) and transfers and withdrawals initiated by telephone, facsimile, or computer and transfers made by check, debit card or other similar order made by the depositor and payable to third parties is included.
State Bank of India New York Customer Manual for Deposits 46 Deposited checks returned unpaid # $10 $10 Closing of Checking or Money Market account within 3 months of opening $25 $25 Listing of Stop Payment request valid for 6 months per check, per ACH debit or debit card preauthorized transfers stopped (maximum $50 at one time) $15 $15 Stop Check Request through YONO US Portal (Min. 1 leaf Max: 10 leaves within same range) $15 for one leaf $30 for 2 leaves $45 for 3 leaves $50 for 4-10 leaves Not Applicable Cancellation of Stop Payment request per check, ACH debit or debit card preauthorized transfers stopped $15 $15 Expedited Delivery of Debit Card Actual cost charged by the service provider -- Per item charge for copy of paid checks/deposited checks, withdrawals or tickets - For current calendar year - For previous calendar year - For other years (up to 5 previous years) *per preceding year beyond previous year $5 $10 $15 * $5 $10 $15 * Charges per page of account statements - For current calendar year - For previous calendar year - For all other years (up to 5 previous years) *per preceding year beyond previous year $5 $10 $15 * $5 $10 $15 * Transfer of funds from Checking to MMD or vice-versa (per transfer) / between two accounts Manual transfer Online transfer $5 Free $5 Free Credit reference $10 $10 Issue of local official checks/certified checks $10 $10 Cash handling charges (per thousand or part thereof after first $1000 deposit in a day) NIL for less than $1000 $2 $2
State Bank of India New York Customer Manual for Deposits 7 Bank to open the account. h) If you reside outside the United States and desire to open an account, you should send photocopies of passports duly attested by the Indian Embassy/High Commission of India or by a branch of State Bank of India. i) If you are a corporation or foreign partnership and desire to open an account in that name, the requirements may vary as detailed under ‘Accounts of Businesses’ listed under item 3. j) Individuals should apply on form DEP-1 and non-individuals should apply on form DEP-3. These forms contain a check-list of documents required and formalities to be completed for opening of accounts. Existing account holders wishing to open additional CDs should apply on form DEP-CD. k) Bank reserves the right to ask for additional documents on a case to case basis. l) In the event that we are unable to verify your address upon account opening, we will send you a letter through USPS certified mail/FedEx with a return acknowledgement receipt to confirm the address. In the event that the acknowledgement receipt is not returned to us within thirty (30) days from the account opening date, we may close the account.
State Bank of India New York Customer Manual for Deposits 32 f. What Items are available on the Next Day? Direct deposits such as social security, funds received through CHIPS and Fedwire, U.S. Treasury checks, Federal Reserve Bank checks, Federal Home Loan Bank checks, U.S. Postal Money Orders, State and Local Government checks, and Travelers checks will be available on the first business day after the day of deposit, provided the checks mentioned above are made payable to the account holder. g. What about Other Check Deposits? Effective July 1, 2020 revisions to our Funds Availability Policy have been implemented in accordance with changes to federal regulation. Our policy is to make funds from your cash and check deposits available to you on the first business day after the day we receive your deposit. The amount we make available for withdrawal by checks not subject to next day availability has been revised from $200 to $225. In some cases, we will not make all the funds you deposited by check available on the first business day after the day of your deposit. Depending on the type of check deposited, funds may not be available until the second business day after the day of your deposit. The amount available for withdrawal on exception holds for large deposits, new accounts and the amount for determining a repeat overdraft have been increased from $5,000 to $5,525. Funds deposited by check of more than $5,525 on any one day may be delayed for a longer period. Please use this chart to know when your deposited funds will be available to you (Please also carefully read the exceptions following this chart): Sl.
3.5 Limited Liability Company (“LLC”) The following documents are required:  The LLC’s organizational documents (Articles of Organization and Operating Agreement)  The names of all the members and managers of the LLC shall be provided with all the same identification as required for corporations above.  A certified copy of a resolution of the Managers of the LLC providing all the same information required in the corporate resolution set forth above.  Certificate of Beneficial owners, wherever applicable. 4. TYPES OF ACCOUNTS Three types of deposit accounts may be opened:  Checking Account  Money Market Deposit (MMD) Account  Certificate of Deposit (CD) Account 4.1 Checking Account This is a non-interest bearing account with no restrictions on the number of withdrawals or credits. However, Bank has the discretion to pay interest on a product variant. The minimum deposit required for opening an account is the minimum daily balance requirement for the account which is tabled below. The daily minimum balance required to be maintained to avoid monthly service charges are as follows:
State Bank of India New York Customer Manual for Deposits 20 If you apply for a duplicate official check or a refund within 180 days of the date of the check, the Bank would require you and the payee to jointly sign an affidavit of loss and indemnity, referred to as Indemnity Agreement. You may also be required to submit a Surety Bond for twice the amount of the instrument or to place sufficient funds as security with us. After 180 days, an affidavit of loss and indemnity alone may suffice. A fee (see “Schedule of Fees & Charges”) will be charged for each stop payment request. i. Your Records: Your cancelled check(s) or substitute check(s), copies of special withdrawal form(s) and acknowledgment(s) on deposit slip(s) are your records. Paid and cancelled checks or substitute checks will be mailed with the statement of accounts to U.S. based customers. The cancelled checks or substitute checks for non-U.S. based accounts will normally be retained by the Bank. j. Statement of Account: Both Checking and Money Market Deposit Accounts are statement accounts. For all active statement accounts (that is, accounts which are not inactive or dormant as explained in Section 5.2) at least once in a calendar month, we will send a statement showing all account activities during the previous statement period. This statement will indicate your balance on the statement date and will give you an itemized, date-wise listing of all credits, all paid checks/ transfers, transactions put through using the linked debit card, interest earned, and any maintenance and service charges levied. It will also indicate the annual percentage yield earned (APYE) in effect during the period, if the account is interest bearing. All statements will be mailed to the last address known to the Bank by regular mail. For additional statements and other modes of sending statements, charges will be extra. No periodic account statements will be sent on CD accounts. Statements of Account are not available online, however, you may view the transactions online through internet banking.

Test Case

Question: What is the general principle of liability in banking?

Metric Baseline Score Current Score
answer_accuracy 0.74961717 0.78891300 (+0.03929583)
groundedness 0.83960304 0.82574799 (-0.01385505)
mean_answer_similarity 0.84926396 0.84961784 (+0.00035388)
mean_reciprocal_rank 1.00000000 1.00000000
min_answer_similarity 0.74961717 0.78891300 (+0.03929583)
model_failures 1.00000000 1.00000000
model_generation_failures 1.00000000 1.00000000
model_parse_failures 0.00000000 0.00000000
model_passes 0.00000000 0.00000000
model_retrieval_failures 0.00000000 0.00000000
precision_relevancy 0.85716807 0.85528831 (-0.00187976)
recall_relevancy 0.87743415 0.87743415
rouge_1 0.21097046 0.18461538 (-0.02635508)
rouge_2 0.15319149 0.14241486 (-0.01077663)
rouge_l 0.18565401 0.17846154 (-0.00719247)

Legend:

  • Metric : The evaluation metric name. Shown in bold red if the metric flipped between pass/fail status.
  • Baseline Score : The metric value for the baseline model. Shown in bold green if baseline won, red if lost.
  • Current Score : The metric value for the current model, followed by the delta from baseline in parentheses.
  • Delta Colors : Green = improvement, Orange = regression, Red = metric flipped to fail.
  • Winner Determination : For each metric, the winner is determined by comparing scores while considering the metric's directionality (higher is better vs. lower is better).
Baseline Result Current Result
Model claude-3-7-sonnet-20250219@h2ogpte claude-3-7-sonnet-20250219@h2ogpte
Question What is the general principle of liability in banking?
Expected answer The general principle of liability in banking is that the Bank shall not be liable for any loss or damage suffered by the Card Holder due to various reasons mentioned in the document.
Actual Answer According to the document, the general principle of liability in banking is that the bank is liable for direct losses or damages caused by their failure to complete a transfer to or from a customer's account in time or for the correct amount as per their agreement, but not for any indirect costs or punitive costs or damages. This is explicitly stated on page 22 of the document: "If the Bank does not complete a transfer to or from your account in time or for the correct amount as per your agreement with us, we will be liable for your direct losses or damages but not any indirect costs or punitive costs or damages." The document also outlines several exceptions where the bank would not be liable, including: 1. Insufficient funds in the account 2. ATM communication failure 3. ATM not having enough cash 4. Circumstances beyond the bank's control preventing the transfer 5. Inability to confirm the transaction with the customer (if required) Additionally, page 56 provides similar information about the limitation of the bank's liability, reiterating that while they are liable for losses or damages if they don't complete transfers properly, there are specific exceptions to this liability. According to the document, the general principle of liability in banking is that the Bank shall not be liable to the Card Holder or to any third party for losses or damages in certain circumstances. The document outlines specific situations where the Bank is not liable, including: 1. Actions carried out by the Bank in good faith based on customer instructions, when exercising due diligence and reasonable care 2. Unauthorized transactions due to fraudulent or negligent conduct of the Card Holder 3. ATM or Merchant Establishment refusal to honor the Card 4. Intrusion or hacking into the Bank's computer system/network 5. Failure to carry out instructions due to insufficient balance or legal restrictions on funds 6. Failure of access due to Force Majeure Events, Technical Problems, or reasons beyond Bank control 7. Failure of the Card Holder to keep PIN or passwords secure 8. Failure to inform the Bank about changes in personal information 9. Breach of terms and conditions by the Card Holder 10. Non-debiting of transaction amounts instantly through ATM or Merchant Transactions The document also states that "under no circumstances shall the Bank be liable for any damages, whatsoever whether such damages are direct, indirect, incidental, consequential and irrespective of whether any claim is based on loss of revenue, investment, production, goodwill, profit, interruption of business or any other loss of any character of nature whatsoever," except for returning funds and properly crediting accounts. For remittance services specifically, the Bank's liability is limited to: (i) payment of interest for delays, (ii) reimbursement of actual out-of-pocket expenses for non-completion of instructions, and (iii) the aggregate amount of fees and charges paid by the customer during the prior 6 months for any other cause.
Retrieved Context
State Bank of India New York Customer Manual for Deposits 22 The Bank also reserves the right to close your accounts without any prior notice for any reason in the Bank’s sole discretion. The Bank will mail you a check for the balance in the accounts. The Bank may give you notice before taking this step, although we are not obliged to do so. We also reserve the right to close your account if your account has a NIL balance for more than three (3) months. Payment of interest on your account (if your account is interest-bearing) will cease from the date of closure of the account. Checking and Money Market Deposit Accounts cannot be negotiated or transferred to another individual or corporation or entity. o. Bank’s Liability: If the Bank does not complete a transfer to or from your account in time or for the correct amount as per your agreement with us, we will be liable for your direct losses or damages but not any indirect costs or punitive costs or damages. However, the Bank will not be liable in circumstances such as:  The funds in your account are not sufficient to affect the transfer  The automated teller machine where you were making the transfer has a communication failure.  The automated teller machine did not have enough cash  If circumstances beyond our control prevent the transfer.  If we are unable to confirm the transaction with you (if required)  Any other exceptions stated in our agreement with you.
State Bank of India New York Customer Manual for Deposits 56 and other applicable laws, may keep records or make reports of high-dollar transactions, suspicious activities, or foreign currency transactions, as necessary to comply with the law and to detect and prevent illegal activity. There are serious civil and criminal consequences to engaging in illegal financial transactions. 13. Limitation of Bank’s Liability: If we do not complete a transfer to or from your account on time or in the correct amount according to our agreement with you, we will be liable for your losses or damages as further described herein. However, there are some exceptions. We will not be liable, for instance: (1) If, through no fault of ours, you do not have enough money in your account to make the transfer. (2) If the transfer would go over the credit limit on your overdraft line. (3) If the automated teller machine where you are making the transfer does not have enough cash. (4) If the system was not working properly and you knew about the breakdown when you started the transfer. (5) If circumstances beyond our control (such as fire or flood) prevent the transfer, despite reasonable precautions that we have taken.
• Principal: The exact sum of money deposited in an account or the amount of money borrowed. • Right of Set-Off: Right to adjust any overdue debt from any other account held singly or jointly with us. • Substitute Check: means a paper reproduction of an original check that contains an image of the front and back of the original check, bears a MICR line, and is suitable for automated processing in the same manner as the original check. 7 Privacy Notice: FACTS WHAT DOES STATE BANK OF INDIA (SBI-US) DO WITH YOUR PERSONAL INFORMATION? Why? Financial companies choose how they share your personal information. Federal law gives consumers the right to limit some but not all sharing. Federal law also requires us to tell you how we collect, share, and protect your personal information. Please read this notice carefully to understand what we do. What? The types of personal information we collect and share depend on the product or service you have with us. This information can include: Social Security number and income Account balances and payment history Assets and debt When you are no longer our customer, we continue to share your information as described in this notice.
3.5 Limited Liability Company (“LLC”) The following documents are required:  The LLC’s organizational documents (Articles of Organization and Operating Agreement)  The names of all the members and managers of the LLC shall be provided with all the same identification as required for corporations above.  A certified copy of a resolution of the Managers of the LLC providing all the same information required in the corporate resolution set forth above.  Certificate of Beneficial owners, wherever applicable. 4. TYPES OF ACCOUNTS Three types of deposit accounts may be opened:  Checking Account  Money Market Deposit (MMD) Account  Certificate of Deposit (CD) Account 4.1 Checking Account This is a non-interest bearing account with no restrictions on the number of withdrawals or credits. However, Bank has the discretion to pay interest on a product variant. The minimum deposit required for opening an account is the minimum daily balance requirement for the account which is tabled below. The daily minimum balance required to be maintained to avoid monthly service charges are as follows:
The Bank shall not be liable to the Card Holder or to any third party, for any loss or damage suffered due to the following reasons: (i) Any action carried out by the Bank, in good faith, based upon the instructions of the Card Holder, exercising due diligence and reasonable care; (ii) Any unauthorized and illegal Transactions occurring through the use of Bank Account(s), which can be attributed to the fraudulent or negligent conduct of the Card Holder, to the extent permitted by law; (iii) Any ATM or Merchant Establishment refusal to honor the Card, for whatever reason; (iv) Intrusion or hacking into the computer system/network or communication network of the Bank, to the extent permitted by law; (v) Failure to carry out any instructions of the Card Holder due to insufficiency of balance in the Card Holder’s Account(s) or if the card holder’s funds are subject to legal process or other restriction; (vi) Failure of the Card Holder to access the Account due to any Force Majeure Event, Technical Problems, or any other reason beyond the control of the Bank; (vii) Failure of the Card Holder to keep confidential and secure, PIN or any passwords, keywords or other identification marks given to the Card Holder for operating of the Account and/or Card; (viii) Failure of the Card Holder to inform the Bank regarding any changes in the Card Holder’s personal information; (ix) Breach of any of the other terms and conditions stated herein or in the Customer Manual by the Card Holder; (x) Non-debiting of Transaction amount instantly through ATM or Merchant Transactions; (xi) Other than to return your funds to you and to properly credit your account, under no circumstances shall the Bank be liable for any damages, whatsoever whether such damages are direct, indirect, incidental, consequential and irrespective of whether any claim is based on loss of revenue, investment, production, goodwill, profit, interruption of business or any other loss of any character of nature whatsoever and whether sustained by the Card Holder or any other third party. 14. Termination: The Bank reserves the right to cancel or withdraw the Card or any of the other services offered at any time without assigning any reason. If the Card Holder closes the Account, the Card(s) issued with the Account will be void. The Card Holder(s) must immediately cease to use the Card and destroy and return all additional Cards. If there are outstanding Transactions pending to the Account, the same will be netted out from the balance prior to the Bank returning the funds to the Card Holder. If the Account is closed, due to any reason whatsoever, prior to debit of any outstanding Card Transactions, Card Holder is liable to refund the amount along with the interest and
State Bank of India New York Customer Manual for Deposits 44 decide not to agree to the terms and conditions discussed therein, you may not use Internet Banking. The Online Banking Terms of Service govern Internet Banking and supersede any inconsistent agreements or requirements. However, the terms of this Manual will govern and supersede any inconsistent statements contained in the Online Banking Terms of Service with regard to the (i) types of accounts that you may have with the Bank and the terms of those accounts; (ii) Bank’s rules governing wire transfers or international remittances including our liability to you and how we will inform you about the costs and fees and exchange rates for remittances and your ability to stop the remittance; (iii) Bank’s privacy and sharing of information policies and (iv) governing law of our agreement. Note: The customer is required to give full name (no initials) while creating recipient for the purpose of sending remittances. Thank You IMPORTANT If there is a conflict between the information stated in any Bank agreement or brochure/Manual (including this one) and something said by one of our employees, the written information will be used to resolve the conflict. The Bank may refuse to follow any instructions it believes is not permitted under law or regulation. The Manual is governed by and shall be interpreted under the laws of the State of New York. Any litigation shall be filed and heard only in the federal or state courts located in New York. State Bank of India reserves the right to change the Manual as required by law or Bank policy. Such changes may be displayed on the notice board in the Bank, posted on the website (https://sbinewyork.statebank) or advised to customers by mail. If you have any questions regarding the information provided in the Manual or your account relationship, you may contact us by mail by writing to the following address: State Bank of India DRS Department 460 Park Avenue New York Branch, NY 10022 U.S.A. Tel : General: (212)521-3200
State Bank of India New York Customer Manual for Deposits 27 on the subsequent account holder who has SSN or EIN. 5.5 Restricted Access to Accounts: Restrictions may be placed on accounts assigned as collateral for the Bank’s loan to you or where you are a co-obligor. Such accounts, if interest bearing, will, however, continue to earn interest. If all or parts of your deposits are attached in connection with a legal action, such attached funds would be kept separately and would earn no interest, nor will such accounts be considered as part of the balance for determining service charges. Your deposits may also be seized by the United States Government or a state government. No interest would be payable even if such funds are subsequently returned to you. 5.6 Accounts of Deceased Persons: In the event of death of a depositor, bank will be guided by the instructions given by the account holder as per the DOB (Designation of Beneficiary) form. It is the Bank’s policy that it can only accept Designations where all beneficiaries have equal shares and each Beneficiary will be an adult (as defined by New York Law). In the event a Beneficiary pre-deceases the Account Holder(s) the surviving Beneficiaries will be entitled to an equal share of the balance of the Account. A new beneficiary form must be created if the account number is changed. The Bank shall have no liability or responsibility whatsoever, for any claims arising from the Bank’s actions, and the Bank shall be fully indemnified for any and all losses, damages, costs, etc. The Designation of Beneficiary form will be effective from the date State Bank of India receives all relevant information required by the form and will supersede any previous Designation of Beneficiary that you might have made. You will have the right to change this designation of beneficiary and to designate a new beneficiary at any time by writing to State Bank of India, New York Branch. This designation is made under the laws of the State of New York which shall have exclusive and binding jurisdiction. All checks written on an account will be honored until we are advised in writing of the death of an account holder. On receipt of such notice the account will be blocked. In case of joint accounts with right to survivorship, the surviving account holder will be entitled to the balances in the account. 6. BANKING TERMINOLOGY • Annual Percentage Yield (APY): The effect of compounding on the interest rate over a one-year period, expressed as a percentage.
State Bank of India New York Customer Manual for Deposits 53 c) If you tell us about the error orally, in person or by telephone, we require that you send us your complaint or question in writing within ten business days. d) We shall tell you the results of our preliminary investigation within 10 business days after we hear from you and will correct any error promptly. Sometimes we may take up to 45 days to investigate certain complaints or questions. In such cases, we will provisionally credit your Account upon your indemnifying us within 10 business days for the amount you think is in error, so that you may have the use of the money during the time it takes us to complete our investigation. If we ask you to put your complaint or question in writing and we do not receive it within 10 business days, we may not credit your Account. e) For errors involving new Accounts, point-of-sale, or foreign-initiated transactions, we may take up to 90 days to investigate your complaint or question. For new Accounts we may take up to 20 business days to credit your Account for the amount you think is in error. If we decide there was no error, we will send you a written explanation within three business days after we finish our investigation. You may ask for copies of the documents that we used in our investigation. 13. Anti-Money Laundering: The Bank, to the extent required by federal law under the USA PATRIOT Act and others, may keep records or make reports of high-dollar Transactions, suspicious activity, or foreign currency Transactions, as necessary to comply with the law and to detect and prevent illegal activity. There are serious civil and criminal consequences to engaging in illegal financial transactions. 14. Limitation of Bank’s Liability: The Bank shall not be liable to the Card Holder or to any third party, for any loss or damage suffered due to the following reasons: a) Any action carried out by the Bank, in good faith, based upon the instructions of the Card Holder, exercising due diligence and reasonable care; b) Any unauthorized and illegal Transactions occurring through the use of Bank Account(s), which can be attributed to the fraudulent or negligent conduct of the Card Holder, to the extent permitted by law; c) Any ATM or Merchant Establishment refusal to honor the Card, for whatever reason; d) Intrusion or hacking into the computer system/network or communication network of the Bank, to the extent permitted by law; e) Failure to carry out any instructions of the Card Holder due to insufficiency of balance in the Card Holder’s Account(s) or if the card Holder’s funds are subject to legal process or other restriction; f) Failure of the Card Holder to access the Account due to any Force Majeure Event, Technical Problems, or any other reason beyond the control of the Bank; g) Failure of the Card Holder to keep confidential and secure, PIN or any passwords, keywords or other identification marks given to the Card Holder for operating of the Account and/or Card; h) Failure of the Card Holder to inform the Bank regarding any changes in the Card Holder’s personal information; i) Breach of any of the other terms and conditions stated herein or in the Customer Manual by the Card Holder; j) Non-debiting of Transaction amount instantly through ATM or Merchant Transactions;
State Bank of India New York Customer Manual for Deposits 42 otherwise incur on account of our provision of the Service to you and caused by your breach of our agreement or by your negligence, misconduct or other wrongful or illegal use of the Service. k. Privacy and Sharing and Use of Information. The information we obtain from you in connection with the Service may be confidential. We will maintain the confidentiality of such information in accordance with our normal procedures for safeguarding information regarding our customers and our Privacy Policy found elsewhere in this Manual. l. Special Rights Regarding “Remittance Transfers.” The Consumer Financial Protection Bureau’s Regulation E governs certain outgoing electronic international transactions initiated by consumers that are defined as “remittance transfers.” Included within the definition of a remittance transfer are wire transfers of funds from any of your consumer deposit or Money Market Deposit Accounts to third parties who are located, or whose accounts are located, in foreign countries. This means that when you request a remittance transfer: (1) You will receive specific disclosures about the details of the requested transfer before we will complete the transfer. (2) You have certain cancellation and refund rights in connection with the transfer if you change your mind within 30 minutes after making payment and the funds have not already been picked up or deposited into the recipient’s account. These rights are briefly summarized below. (3) You have certain rights if you suspect an error or problem with a remittance transfer. These rights are briefly summarized below. (4) We will send you a notice that we debited your account and you paid for the transfer. (5) Certain provisions of this Manual, which limit our liability to you or make you responsible for losses in various circumstances, do not apply and our or your liability or responsibility is instead governed by the Regulation E remittance transfer rules. Among other things, those rules provide that if you give us the incorrect account number or recipient institution identifier, you could lose the transfer amount. (6) There may also be other provisions of this Manual, that are inconsistent with certain rights or responsibilities of you or us under the Regulation E remittance transfer rules. In the event of any such inconsistency, Regulation E will control and this Manual, will be deemed modified so as to be consistent with the remittance transfer rules, without affecting the validity of any other provisions of the Manual. What to do if you want to cancel a remittance transfer: You have the right to cancel a remittance transfer and obtain a refund of all funds paid to us, including any fees. To cancel, you must contact us: by telephone at (212)-521-3234; by email at cancelremit.nyb@statebank.com or in person at the Bank within 30 minutes of making payment for the transfer. If you have initiated the remittance through new “YONO US Portal”, you can use the Cancellation facility within 30 minutes of creation of transaction to self-cancel the transfer. When you contact us, you must provide us with information to help us identify the transfer you wish to cancel, including your name, address and telephone number, the amount and location where the funds were to be sent and any identification number we have provided for you in connection with the transfer. We will refund your money within three business days of your request to cancel a transfer, as long as the funds have not already been picked up or deposited into the recipient’s
State Bank of India New York Customer Manual for Deposits 41 We may send the wire through such correspondents as appear appropriate to us in our sole discretion and we shall not be liable for their neglect or negligence. We are not under any obligation to detect errors or inconsistencies in any of your instructions. We will not be liable for any losses caused by errors or inaccuracies in your instructions. We will have the right, in our sole discretion, to reject any instructions, to set exposure limits on the amounts you may wire and impose additional conditions that must be satisfied before we will accept any instructions. i. Limits on Remittances. You will provide a statement of the purpose of the remittance. You may not transfer more than our specified maximum dollar limit in any single day. We may change any of the foregoing limits in our discretion at any time. Remittances may not be sent by us through or into any country in violation of U.S. laws. We will charge to and debit from the account identified in the instruction the amount of money specified in the instruction to be paid to the beneficiary designated therein and all fees and any costs and expenses. You must verify, prior to issuing an instruction for us to initiate a remittance, that funds are available in your account for us to initiate the remittance. If there are insufficient funds, we may, in our sole discretion: (i) execute the transaction, in which event, immediately upon our demand, you will pay to us all amounts sent and all fees and costs and expenses associated with the transfer; (ii) delay the remittance; or (iii) cancel the instruction and not complete the remittance. We will not have any liability to you or any other person for losses incurred by you or any other person when a remittance is not completed because there are not sufficient funds available. j. Limits on Liability and Indemnification. EXCEPT AS PROVIDED IN EXPRESS TERMS TO THE CONTRARY IN THIS MANUAL, THE SERVICE IS PROVIDED ON AN “AS IS”, “AS AVAILABLE” BASIS. WE MAKE NO WARRANTY, EXPRESS OR IMPLIED, TO YOU OR ANY OTHER PERSON REGARDING THE SERVICE, INCLUDING ANY WARRANTY OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE OR NONINFRINGEMENT. Subject to the limitations on our liability set forth in this Agreement, we will have liability to you for any losses you suffer or incur as a direct result of a material breach of this Agreement by us or as a direct result of our gross negligence or intentional misconduct in performing or failing to perform the Service. Our liability will be limited, however, as follows: (i) for delays in payment, our total liability to you or any person, including the beneficiary, will be limited to payment of interest for the period of delay; (ii) for non-completion of the instructions, our total liability to any person, including you, will be limited to reimbursement to such person of his or her actual out-of-pocket expenses in the funds transfer, and any actual out-of-pocket incidental expenses and interest losses; and (iii) for any other cause, the aggregate amount of the fees and charges paid by you to us for the Service during the prior 6 months. We will not be liable to you or any other person for, and you release us from liability with respect to (i) any indirect, consequential, special, incidental, exemplary or punitive damages, including loss of profits, loss of business or loss of data; or (ii) attorneys’ fees or fees of other professionals. You will fully indemnify us and hold us harmless, from and against all losses we may suffer or
The Bank shall not be liable to the Card Holder or to any third party, for any loss or damage suffered due to the following reasons: (i) Any action carried out by the Bank, in good faith, based upon the instructions of the Card Holder, exercising due diligence and reasonable care; (ii) Any unauthorized and illegal Transactions occurring through the use of Bank Account(s), which can be attributed to the fraudulent or negligent conduct of the Card Holder, to the extent permitted by law; (iii) Any ATM or Merchant Establishment refusal to honor the Card, for whatever reason; (iv) Intrusion or hacking into the computer system/network or communication network of the Bank, to the extent permitted by law; (v) Failure to carry out any instructions of the Card Holder due to insufficiency of balance in the Card Holder’s Account(s) or if the card holder’s funds are subject to legal process or other restriction; (vi) Failure of the Card Holder to access the Account due to any Force Majeure Event, Technical Problems, or any other reason beyond the control of the Bank; (vii) Failure of the Card Holder to keep confidential and secure, PIN or any passwords, keywords or other identification marks given to the Card Holder for operating of the Account and/or Card; (viii) Failure of the Card Holder to inform the Bank regarding any changes in the Card Holder’s personal information; (ix) Breach of any of the other terms and conditions stated herein or in the Customer Manual by the Card Holder; (x) Non-debiting of Transaction amount instantly through ATM or Merchant Transactions; (xi) Other than to return your funds to you and to properly credit your account, under no circumstances shall the Bank be liable for any damages, whatsoever whether such damages are direct, indirect, incidental, consequential and irrespective of whether any claim is based on loss of revenue, investment, production, goodwill, profit, interruption of business or any other loss of any character of nature whatsoever and whether sustained by the Card Holder or any other third party. 14. Termination: The Bank reserves the right to cancel or withdraw the Card or any of the other services offered at any time without assigning any reason. If the Card Holder closes the Account, the Card(s) issued with the Account will be void. The Card Holder(s) must immediately cease to use the Card and destroy and return all additional Cards. If there are outstanding Transactions pending to the Account, the same will be netted out from the balance prior to the Bank returning the funds to the Card Holder. If the Account is closed, due to any reason whatsoever, prior to debit of any outstanding Card Transactions, Card Holder is liable to refund the amount along with the interest and
5. Funds: The Card Holder will maintain sufficient funds in the Account as necessary to cover any transactions at the time they are initiated. The Card Holder should not use or attempt to use the Card without sufficient funds in the Account. In the event of payment/debit made in excess of the balance available in the Account, Card Holder will be responsible to the Bank for the amount of any transaction completed and will also be responsible to the Bank for the Service Fee disclosed in the Customer Manual for a check returned or paid against insufficient or unavailable funds. Please see the Customer Manual for a Schedule of Fees and Charges. 6. Periodic Statements: Periodic Statements of the Account will be sent to the Card Holder as provided in the Customer Manual. 7. Expiration/Renewal: The Card is valid up to the last day of the month/year indicated on the Card. A renewal Card shall be sent by the Bank before the expiry of the Card at the discretion of the Bank. The Bank reserves the sole right of renewing the Card Account on expiry. The Card Holder is responsible for destroying the expired Card. Unless we are notified in writing otherwise, re-issued cards will be sent to your last known address according to the records of the Bank. 8. ATM Use: The Debit Card can be used in USA and India. Please contact us and in case you wish to use your card in any other country. You are required to submit a signed request before for allowing transactions in countries except US and India. Bank reserves the right to allow or decline such requests due to regulatory and policy considerations. The Card is accepted at STAR Network ATMs and may be accepted at ATMs operated by other banks or financial institutions. The Card may be used to withdraw cash from the Account, transfer funds between Accounts, and obtain Account balance information. Card Holder is entitled to receive a receipt of ATM Transactions containing sufficient information to identify the transaction and the terminal used. You cannot deposit cash or check at ATMs. The Bank will have no liability what so ever if you deposit cash or check at an ATM. Cash withdrawals and balance inquiries may be subject to a fee (if used outside the STAR Network) and will be debited to the Account at the time of such transactions
State Bank of India New York Customer Manual for Deposits 22 The Bank also reserves the right to close your accounts without any prior notice for any reason in the Bank’s sole discretion. The Bank will mail you a check for the balance in the accounts. The Bank may give you notice before taking this step, although we are not obliged to do so. We also reserve the right to close your account if your account has a NIL balance for more than three (3) months. Payment of interest on your account (if your account is interest-bearing) will cease from the date of closure of the account. Checking and Money Market Deposit Accounts cannot be negotiated or transferred to another individual or corporation or entity. o. Bank’s Liability: If the Bank does not complete a transfer to or from your account in time or for the correct amount as per your agreement with us, we will be liable for your direct losses or damages but not any indirect costs or punitive costs or damages. However, the Bank will not be liable in circumstances such as:  The funds in your account are not sufficient to affect the transfer  The automated teller machine where you were making the transfer has a communication failure.  The automated teller machine did not have enough cash  If circumstances beyond our control prevent the transfer.  If we are unable to confirm the transaction with you (if required)  Any other exceptions stated in our agreement with you.
• Principal: The exact sum of money deposited in an account or the amount of money borrowed. • Right of Set-Off: Right to adjust any overdue debt from any other account held singly or jointly with us. • Substitute Check: means a paper reproduction of an original check that contains an image of the front and back of the original check, bears a MICR line, and is suitable for automated processing in the same manner as the original check. 7 Privacy Notice: FACTS WHAT DOES STATE BANK OF INDIA (SBI-US) DO WITH YOUR PERSONAL INFORMATION? Why? Financial companies choose how they share your personal information. Federal law gives consumers the right to limit some but not all sharing. Federal law also requires us to tell you how we collect, share, and protect your personal information. Please read this notice carefully to understand what we do. What? The types of personal information we collect and share depend on the product or service you have with us. This information can include: Social Security number and income Account balances and payment history Assets and debt When you are no longer our customer, we continue to share your information as described in this notice.
State Bank of India New York Customer Manual for Deposits 56 and other applicable laws, may keep records or make reports of high-dollar transactions, suspicious activities, or foreign currency transactions, as necessary to comply with the law and to detect and prevent illegal activity. There are serious civil and criminal consequences to engaging in illegal financial transactions. 13. Limitation of Bank’s Liability: If we do not complete a transfer to or from your account on time or in the correct amount according to our agreement with you, we will be liable for your losses or damages as further described herein. However, there are some exceptions. We will not be liable, for instance: (1) If, through no fault of ours, you do not have enough money in your account to make the transfer. (2) If the transfer would go over the credit limit on your overdraft line. (3) If the automated teller machine where you are making the transfer does not have enough cash. (4) If the system was not working properly and you knew about the breakdown when you started the transfer. (5) If circumstances beyond our control (such as fire or flood) prevent the transfer, despite reasonable precautions that we have taken.
State Bank of India New York Customer Manual for Deposits 27 on the subsequent account holder who has SSN or EIN. 5.5 Restricted Access to Accounts: Restrictions may be placed on accounts assigned as collateral for the Bank’s loan to you or where you are a co-obligor. Such accounts, if interest bearing, will, however, continue to earn interest. If all or parts of your deposits are attached in connection with a legal action, such attached funds would be kept separately and would earn no interest, nor will such accounts be considered as part of the balance for determining service charges. Your deposits may also be seized by the United States Government or a state government. No interest would be payable even if such funds are subsequently returned to you. 5.6 Accounts of Deceased Persons: In the event of death of a depositor, bank will be guided by the instructions given by the account holder as per the DOB (Designation of Beneficiary) form. It is the Bank’s policy that it can only accept Designations where all beneficiaries have equal shares and each Beneficiary will be an adult (as defined by New York Law). In the event a Beneficiary pre-deceases the Account Holder(s) the surviving Beneficiaries will be entitled to an equal share of the balance of the Account. A new beneficiary form must be created if the account number is changed. The Bank shall have no liability or responsibility whatsoever, for any claims arising from the Bank’s actions, and the Bank shall be fully indemnified for any and all losses, damages, costs, etc. The Designation of Beneficiary form will be effective from the date State Bank of India receives all relevant information required by the form and will supersede any previous Designation of Beneficiary that you might have made. You will have the right to change this designation of beneficiary and to designate a new beneficiary at any time by writing to State Bank of India, New York Branch. This designation is made under the laws of the State of New York which shall have exclusive and binding jurisdiction. All checks written on an account will be honored until we are advised in writing of the death of an account holder. On receipt of such notice the account will be blocked. In case of joint accounts with right to survivorship, the surviving account holder will be entitled to the balances in the account. 6. BANKING TERMINOLOGY • Annual Percentage Yield (APY): The effect of compounding on the interest rate over a one-year period, expressed as a percentage.
State Bank of India New York Customer Manual for Deposits 44 decide not to agree to the terms and conditions discussed therein, you may not use Internet Banking. The Online Banking Terms of Service govern Internet Banking and supersede any inconsistent agreements or requirements. However, the terms of this Manual will govern and supersede any inconsistent statements contained in the Online Banking Terms of Service with regard to the (i) types of accounts that you may have with the Bank and the terms of those accounts; (ii) Bank’s rules governing wire transfers or international remittances including our liability to you and how we will inform you about the costs and fees and exchange rates for remittances and your ability to stop the remittance; (iii) Bank’s privacy and sharing of information policies and (iv) governing law of our agreement. Note: The customer is required to give full name (no initials) while creating recipient for the purpose of sending remittances. Thank You IMPORTANT If there is a conflict between the information stated in any Bank agreement or brochure/Manual (including this one) and something said by one of our employees, the written information will be used to resolve the conflict. The Bank may refuse to follow any instructions it believes is not permitted under law or regulation. The Manual is governed by and shall be interpreted under the laws of the State of New York. Any litigation shall be filed and heard only in the federal or state courts located in New York. State Bank of India reserves the right to change the Manual as required by law or Bank policy. Such changes may be displayed on the notice board in the Bank, posted on the website (https://sbinewyork.statebank) or advised to customers by mail. If you have any questions regarding the information provided in the Manual or your account relationship, you may contact us by mail by writing to the following address: State Bank of India DRS Department 460 Park Avenue New York Branch, NY 10022 U.S.A. Tel : General: (212)521-3200
3.5 Limited Liability Company (“LLC”) The following documents are required:  The LLC’s organizational documents (Articles of Organization and Operating Agreement)  The names of all the members and managers of the LLC shall be provided with all the same identification as required for corporations above.  A certified copy of a resolution of the Managers of the LLC providing all the same information required in the corporate resolution set forth above.  Certificate of Beneficial owners, wherever applicable. 4. TYPES OF ACCOUNTS Three types of deposit accounts may be opened:  Checking Account  Money Market Deposit (MMD) Account  Certificate of Deposit (CD) Account 4.1 Checking Account This is a non-interest bearing account with no restrictions on the number of withdrawals or credits. However, Bank has the discretion to pay interest on a product variant. The minimum deposit required for opening an account is the minimum daily balance requirement for the account which is tabled below. The daily minimum balance required to be maintained to avoid monthly service charges are as follows:
State Bank of India New York Customer Manual for Deposits 18  All items will be forwarded by the Bank through ordinary bank collection channels as your collecting agent, at your risk.  The Bank shall not be responsible for negligence, default or failure of sub-agent(s), nor for any loss in mail. Please refer to the “Schedule of Fees & Charges” for charges related to collection matters. e. Endorsements: All checks deposited by you must be signed on the reverse with your name clearly written. We may refuse to accept checks with two payees, or a check whose collectible nature is in doubt. It is necessary for you to endorse a check correctly on the area reserved for your signature, on the reverse of the check. The remaining area must be left blank for processing purposes. The Bank will not be liable for any loss on account of improperly endorsed checks. The Bank shall not, as a policy or general practice, refuse to accept a check as a deposit made with a teller by an account holder for the sole reason that it contains two endorsements. However, this policy shall not prevent the Bank from requiring the approval of an officer or manager as a condition of accepting a check with two endorsements for deposit or from refusing to accept a deposit of a check with two endorsements that is not made with a teller.
State Bank of India New York Customer Manual for Deposits 41 We may send the wire through such correspondents as appear appropriate to us in our sole discretion and we shall not be liable for their neglect or negligence. We are not under any obligation to detect errors or inconsistencies in any of your instructions. We will not be liable for any losses caused by errors or inaccuracies in your instructions. We will have the right, in our sole discretion, to reject any instructions, to set exposure limits on the amounts you may wire and impose additional conditions that must be satisfied before we will accept any instructions. i. Limits on Remittances. You will provide a statement of the purpose of the remittance. You may not transfer more than our specified maximum dollar limit in any single day. We may change any of the foregoing limits in our discretion at any time. Remittances may not be sent by us through or into any country in violation of U.S. laws. We will charge to and debit from the account identified in the instruction the amount of money specified in the instruction to be paid to the beneficiary designated therein and all fees and any costs and expenses. You must verify, prior to issuing an instruction for us to initiate a remittance, that funds are available in your account for us to initiate the remittance. If there are insufficient funds, we may, in our sole discretion: (i) execute the transaction, in which event, immediately upon our demand, you will pay to us all amounts sent and all fees and costs and expenses associated with the transfer; (ii) delay the remittance; or (iii) cancel the instruction and not complete the remittance. We will not have any liability to you or any other person for losses incurred by you or any other person when a remittance is not completed because there are not sufficient funds available. j. Limits on Liability and Indemnification. EXCEPT AS PROVIDED IN EXPRESS TERMS TO THE CONTRARY IN THIS MANUAL, THE SERVICE IS PROVIDED ON AN “AS IS”, “AS AVAILABLE” BASIS. WE MAKE NO WARRANTY, EXPRESS OR IMPLIED, TO YOU OR ANY OTHER PERSON REGARDING THE SERVICE, INCLUDING ANY WARRANTY OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE OR NONINFRINGEMENT. Subject to the limitations on our liability set forth in this Agreement, we will have liability to you for any losses you suffer or incur as a direct result of a material breach of this Agreement by us or as a direct result of our gross negligence or intentional misconduct in performing or failing to perform the Service. Our liability will be limited, however, as follows: (i) for delays in payment, our total liability to you or any person, including the beneficiary, will be limited to payment of interest for the period of delay; (ii) for non-completion of the instructions, our total liability to any person, including you, will be limited to reimbursement to such person of his or her actual out-of-pocket expenses in the funds transfer, and any actual out-of-pocket incidental expenses and interest losses; and (iii) for any other cause, the aggregate amount of the fees and charges paid by you to us for the Service during the prior 6 months. We will not be liable to you or any other person for, and you release us from liability with respect to (i) any indirect, consequential, special, incidental, exemplary or punitive damages, including loss of profits, loss of business or loss of data; or (ii) attorneys’ fees or fees of other professionals. You will fully indemnify us and hold us harmless, from and against all losses we may suffer or

Test Case

Question: Can remittances be sent to countries that are subject to U.S. laws and regulations?

Metric Baseline Score Current Score
answer_accuracy 0.81958513 0.82513654 (+0.00555141)
groundedness 0.86613991 0.87605488 (+0.00991496)
mean_answer_similarity 0.86927625 0.86953463 (+0.00025838)
mean_reciprocal_rank 1.00000000 1.00000000
min_answer_similarity 0.78352451 0.78352451
model_failures 1.00000000 1.00000000
model_generation_failures 1.00000000 1.00000000
model_parse_failures 0.00000000 0.00000000
model_passes 0.00000000 0.00000000
model_retrieval_failures 0.00000000 0.00000000
precision_relevancy 0.85939605 0.85479925 (-0.00459680)
recall_relevancy 0.91637594 0.91637594
rouge_1 0.27536232 0.25165563 (-0.02370669)
rouge_2 0.23529412 0.21476510 (-0.02052902)
rouge_l 0.24637681 0.22516556 (-0.02121125)

Legend:

  • Metric : The evaluation metric name. Shown in bold red if the metric flipped between pass/fail status.
  • Baseline Score : The metric value for the baseline model. Shown in bold green if baseline won, red if lost.
  • Current Score : The metric value for the current model, followed by the delta from baseline in parentheses.
  • Delta Colors : Green = improvement, Orange = regression, Red = metric flipped to fail.
  • Winner Determination : For each metric, the winner is determined by comparing scores while considering the metric's directionality (higher is better vs. lower is better).
Baseline Result Current Result
Model claude-3-7-sonnet-20250219@h2ogpte claude-3-7-sonnet-20250219@h2ogpte
Question Can remittances be sent to countries that are subject to U.S. laws and regulations?
Expected answer No, remittances may not be sent by the Bank through or into any country in violation of U.S. laws.
Actual Answer According to the document, remittances cannot be sent through or into any country in violation of U.S. laws. As stated on page 41 of the "Customer Manual for Deposits" document: "Remittances may not be sent by us through or into any country in violation of U.S. laws." Additionally, the document mentions on page 39 that the bank can transfer funds to accounts in banks in foreign countries other than India through their correspondents, but this is subject to U.S. laws and regulations. The document also notes on page 37 and page 51 that the use of debit cards "may be restricted with respect to certain foreign countries as required by U.S. laws and regulations." According to the document, remittances cannot be sent to countries that are subject to U.S. sanctions or other restrictions. On page 41 of the "Customer Manual for Deposits," it clearly states: "Remittances may not be sent by us through or into any country in violation of U.S. laws." This indicates that State Bank of India's New York branch follows U.S. laws and regulations regarding international money transfers and will not process remittances to countries that would violate these restrictions. Additionally, on page 37, the document mentions that "The use of the Card may also be restricted with respect to certain foreign countries as required by U.S. laws and regulations," which further confirms that the bank adheres to U.S. restrictions on financial transactions with certain countries.
Retrieved Context
State Bank of India New York Customer Manual for Deposits 30 offices are collectively referred to as SBI-US in this Notice. What we do How does SBI–US protect my personal information? To protect your personal information from unauthorized access and use, we use security measures that comply with federal law. SBI-US has established physical, technological and procedural systems and controls for protecting the confidentiality of your personal information. SBI-US employees undergo training on protecting customer information. How does SBI–US collect my personal information? We collect your personal information, for example, when you Open an account or deposit money Pay your bills or apply for a loan Use your credit or debit card We also collect your personal information from credit bureaus. Why can't I limit all sharing? Federal law gives you the right to limit only Sharing for affiliates’ everyday business purposes- information about your creditworthiness Affiliates from using your information to market to you Sharing for non-affiliates to market to you State laws and individual companies may give you additional rights to limit sharing. See below for more on your rights under state law.
State Bank of India New York Customer Manual for Deposits 41 We may send the wire through such correspondents as appear appropriate to us in our sole discretion and we shall not be liable for their neglect or negligence. We are not under any obligation to detect errors or inconsistencies in any of your instructions. We will not be liable for any losses caused by errors or inaccuracies in your instructions. We will have the right, in our sole discretion, to reject any instructions, to set exposure limits on the amounts you may wire and impose additional conditions that must be satisfied before we will accept any instructions. i. Limits on Remittances. You will provide a statement of the purpose of the remittance. You may not transfer more than our specified maximum dollar limit in any single day. We may change any of the foregoing limits in our discretion at any time. Remittances may not be sent by us through or into any country in violation of U.S. laws. We will charge to and debit from the account identified in the instruction the amount of money specified in the instruction to be paid to the beneficiary designated therein and all fees and any costs and expenses. You must verify, prior to issuing an instruction for us to initiate a remittance, that funds are available in your account for us to initiate the remittance. If there are insufficient funds, we may, in our sole discretion: (i) execute the transaction, in which event, immediately upon our demand, you will pay to us all amounts sent and all fees and costs and expenses associated with the transfer; (ii) delay the remittance; or (iii) cancel the instruction and not complete the remittance. We will not have any liability to you or any other person for losses incurred by you or any other person when a remittance is not completed because there are not sufficient funds available. j. Limits on Liability and Indemnification. EXCEPT AS PROVIDED IN EXPRESS TERMS TO THE CONTRARY IN THIS MANUAL, THE SERVICE IS PROVIDED ON AN “AS IS”, “AS AVAILABLE” BASIS. WE MAKE NO WARRANTY, EXPRESS OR IMPLIED, TO YOU OR ANY OTHER PERSON REGARDING THE SERVICE, INCLUDING ANY WARRANTY OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE OR NONINFRINGEMENT. Subject to the limitations on our liability set forth in this Agreement, we will have liability to you for any losses you suffer or incur as a direct result of a material breach of this Agreement by us or as a direct result of our gross negligence or intentional misconduct in performing or failing to perform the Service. Our liability will be limited, however, as follows: (i) for delays in payment, our total liability to you or any person, including the beneficiary, will be limited to payment of interest for the period of delay; (ii) for non-completion of the instructions, our total liability to any person, including you, will be limited to reimbursement to such person of his or her actual out-of-pocket expenses in the funds transfer, and any actual out-of-pocket incidental expenses and interest losses; and (iii) for any other cause, the aggregate amount of the fees and charges paid by you to us for the Service during the prior 6 months. We will not be liable to you or any other person for, and you release us from liability with respect to (i) any indirect, consequential, special, incidental, exemplary or punitive damages, including loss of profits, loss of business or loss of data; or (ii) attorneys’ fees or fees of other professionals. You will fully indemnify us and hold us harmless, from and against all losses we may suffer or
State Bank of India New York Customer Manual for Deposits 42 otherwise incur on account of our provision of the Service to you and caused by your breach of our agreement or by your negligence, misconduct or other wrongful or illegal use of the Service. k. Privacy and Sharing and Use of Information. The information we obtain from you in connection with the Service may be confidential. We will maintain the confidentiality of such information in accordance with our normal procedures for safeguarding information regarding our customers and our Privacy Policy found elsewhere in this Manual. l. Special Rights Regarding “Remittance Transfers.” The Consumer Financial Protection Bureau’s Regulation E governs certain outgoing electronic international transactions initiated by consumers that are defined as “remittance transfers.” Included within the definition of a remittance transfer are wire transfers of funds from any of your consumer deposit or Money Market Deposit Accounts to third parties who are located, or whose accounts are located, in foreign countries. This means that when you request a remittance transfer: (1) You will receive specific disclosures about the details of the requested transfer before we will complete the transfer. (2) You have certain cancellation and refund rights in connection with the transfer if you change your mind within 30 minutes after making payment and the funds have not already been picked up or deposited into the recipient’s account. These rights are briefly summarized below. (3) You have certain rights if you suspect an error or problem with a remittance transfer. These rights are briefly summarized below. (4) We will send you a notice that we debited your account and you paid for the transfer. (5) Certain provisions of this Manual, which limit our liability to you or make you responsible for losses in various circumstances, do not apply and our or your liability or responsibility is instead governed by the Regulation E remittance transfer rules. Among other things, those rules provide that if you give us the incorrect account number or recipient institution identifier, you could lose the transfer amount. (6) There may also be other provisions of this Manual, that are inconsistent with certain rights or responsibilities of you or us under the Regulation E remittance transfer rules. In the event of any such inconsistency, Regulation E will control and this Manual, will be deemed modified so as to be consistent with the remittance transfer rules, without affecting the validity of any other provisions of the Manual. What to do if you want to cancel a remittance transfer: You have the right to cancel a remittance transfer and obtain a refund of all funds paid to us, including any fees. To cancel, you must contact us: by telephone at (212)-521-3234; by email at cancelremit.nyb@statebank.com or in person at the Bank within 30 minutes of making payment for the transfer. If you have initiated the remittance through new “YONO US Portal”, you can use the Cancellation facility within 30 minutes of creation of transaction to self-cancel the transfer. When you contact us, you must provide us with information to help us identify the transfer you wish to cancel, including your name, address and telephone number, the amount and location where the funds were to be sent and any identification number we have provided for you in connection with the transfer. We will refund your money within three business days of your request to cancel a transfer, as long as the funds have not already been picked up or deposited into the recipient’s
State Bank of India New York Customer Manual for Deposits 39 a. Funds Transfer Services to India Remittances can be sent both in US dollars and in Indian rupees, at your option. At What Rate Are Dollars Converted to Rupees? For remittances in Rupees, the conversion of US dollars into rupees will be done at the rate determined by SBI New York on the day and time of the conversion. For remittances in US dollars to India the funds will be converted into Rupees based on the laws and banking practice prevailing in India. Modes of Transfer of Funds Remittances can be sent through Wire transfer. Please note that Wire transfers in dollars can be sent only to those authorized branches of Banks where SWIFT facilities are available. While all efforts will be made to ensure timely delivery of funds to the beneficiaries, the Bank shall not be under any liability for any errors, negligence, default or any failure on the part of the remitting customer in furnishing vital information for good delivery of the funds. Please read the Terms and Conditions for the remittance mentioned on the remittance forms. b. Transfer of Funds to Other Banks in the U.S. Funds can be transferred to other banks in the U.S. through CHIPS or Fedwire, as we are members of both of these systems. Our ABA routing number is 0260-0914-0 and CHIPS UID is 034282. c. Transfer of Funds to Other Countries We can also transfer your funds to accounts in banks in foreign countries other than India through our correspondents. You may advise us the intermediary bank of your beneficiary’s Bank, wherever required. We can also quote firm exchange rates and effect remittances through our correspondents, in the following currencies: GBP, EUR, CAD, JPY, CHF, AUD, NPR, LKR, BDT Remittances in other currencies can be offered depending upon the volume of business and availability of correspondent relationship in that currency. d. How to Apply for a Remittance Request for remittance services mentioned in a, b, c above should be made through Internet Banking (online and offline) through our website (https://sbinewyork.statebank) or by submission of our prescribed application form. The remittance application form is available on our website https://sbinewyork.statebank. Individual customers can submit the form alongwith a copy of valid photo ID over the counter at the Branch or mail the set to the Branch. The Bank will not accept remittance form through fax or e-mail for individual customers. See “Schedule of Fees & Charges” in this Manual for applicable charges. e. Use of the Remittance Service (the “Service”) The Service is available for use only by individuals and corporate customers who are account holders at the Bank. The Service will permit you to issue non-repetitive orders for us to transfer funds from your account to accounts at other domestic or international financial institutions, in amounts up to any daily limits or individual customer limits which we may establish and change in our discretion
11. International Transactions: Additionally, Card Holders may use the Card at ATM and Merchant Establishments in countries other than the U.S. and India, if so permitted by the Bank, and in currencies other than U.S. Dollars. The Transaction will be converted to U.S. dollars. The exchange rate is decided by MasterCard and not the Bank. The use of the Card may be restricted with respect to certain foreign countries as required by U.S. laws and regulations. Fees: The Bank provides the Card at no charge, subject to such changes as Bank may make from time to time with advance notice as provided by law. In some instances, there may be charges imposed by ATMs operated by other banks and financial institutions. Business Days: The Bank’s business days are Monday through Friday, 9:00 a.m. to 4:00 p.m. (cash services available up to 3:00 pm only) barring the banking holidays as prescribed by the New York Department of Financial Services. Disclosure of Account Information to Third Parties: Please see our privacy policy at the end of this agreement for privacy information.
State Bank of India New York Customer Manual for Deposits 56 and other applicable laws, may keep records or make reports of high-dollar transactions, suspicious activities, or foreign currency transactions, as necessary to comply with the law and to detect and prevent illegal activity. There are serious civil and criminal consequences to engaging in illegal financial transactions. 13. Limitation of Bank’s Liability: If we do not complete a transfer to or from your account on time or in the correct amount according to our agreement with you, we will be liable for your losses or damages as further described herein. However, there are some exceptions. We will not be liable, for instance: (1) If, through no fault of ours, you do not have enough money in your account to make the transfer. (2) If the transfer would go over the credit limit on your overdraft line. (3) If the automated teller machine where you are making the transfer does not have enough cash. (4) If the system was not working properly and you knew about the breakdown when you started the transfer. (5) If circumstances beyond our control (such as fire or flood) prevent the transfer, despite reasonable precautions that we have taken.
State Bank of India New York Customer Manual for Deposits 44 decide not to agree to the terms and conditions discussed therein, you may not use Internet Banking. The Online Banking Terms of Service govern Internet Banking and supersede any inconsistent agreements or requirements. However, the terms of this Manual will govern and supersede any inconsistent statements contained in the Online Banking Terms of Service with regard to the (i) types of accounts that you may have with the Bank and the terms of those accounts; (ii) Bank’s rules governing wire transfers or international remittances including our liability to you and how we will inform you about the costs and fees and exchange rates for remittances and your ability to stop the remittance; (iii) Bank’s privacy and sharing of information policies and (iv) governing law of our agreement. Note: The customer is required to give full name (no initials) while creating recipient for the purpose of sending remittances. Thank You IMPORTANT If there is a conflict between the information stated in any Bank agreement or brochure/Manual (including this one) and something said by one of our employees, the written information will be used to resolve the conflict. The Bank may refuse to follow any instructions it believes is not permitted under law or regulation. The Manual is governed by and shall be interpreted under the laws of the State of New York. Any litigation shall be filed and heard only in the federal or state courts located in New York. State Bank of India reserves the right to change the Manual as required by law or Bank policy. Such changes may be displayed on the notice board in the Bank, posted on the website (https://sbinewyork.statebank) or advised to customers by mail. If you have any questions regarding the information provided in the Manual or your account relationship, you may contact us by mail by writing to the following address: State Bank of India DRS Department 460 Park Avenue New York Branch, NY 10022 U.S.A. Tel : General: (212)521-3200
State Bank of India New York Customer Manual for Deposits 43 account. What to do if you think there has been an error or problem with a remittance transfer: (1) Call us at 212-521-3234; or email at remiterror.nyb@statebank.com (2) Write to us at Remittance Section, State Bank of India, 460 Park Avenue, New York, NY-10022, USA. You must contact us within 180 days of the date we promised that the funds would be made available to the recipient. When you do, please tell us: (1) Your name and telephone number or address; (2) The error or problem with the transfer, and why you believe it is an error or problem; (3) The name of the person receiving the funds, and if you know it, his or her telephone number or address; (4) The dollar amount of the transfer; and (5) The confirmation code or number of the transaction. We will determine whether an error occurred within 90 days after you contact us, and we will correct any error promptly. We will tell you the results within three business days after completing our investigation. If we decide that there was no error, we will send you a written explanation. You may ask for copies of any documents we used in our investigation. 11. Internet Banking/ YONO US Portal: a. Internet Services This section of the Manual describes your use of the Bank’s Online Internet-based Banking Service (“Internet Banking”). By using the new Internet Banking, you may:  Open an account (Currently, this facility is not available)  Obtain account balance and other banking information  Transfer funds between own accounts  Transfer funds to other Banks within USA through Wire Transfers*  Transfer INR to India*  Transfer USD to any Bank outside USA too*  Send secure messages to the Bank  Order new checks / Stop Checks*  Uploading documents as attachment through Secure Message Platform  Pull fund from own accounts with other U.S. banks *Charges may apply b. Internet Banking Terms of Service You may enroll in our new Internet Banking at our website at https://sbinewyork.statebank/online- banking . Once you enroll on the new portal, you will have access to your account information for viewing purposes only. In order to obtain transaction rights in online banking mode, you must apply for Transaction Rights under “Requests/Services” Tab. The request shall be approved by the Bank upon receipt. During the enrollment process you will be presented with a copy of the Bank’s Online Banking Terms of Service. The Online Banking Terms of Service governs your use of the SBI Online Banking Services. Use of Internet Banking is expressly conditioned on your acceptance of these Online Banking Terms of Service. By using the Internet Banking, you acknowledge that you have read and agree to abide by the terms and conditions of these Online Banking Terms of Service. If you
State Bank of India New York Customer Manual for Deposits 37 purchase, but in some instances, they may be for a different amount as MasterCard’s rules permit "authorization" holds based upon an estimated amount of the transaction, and, in some instances, may include additional amounts authorized under MasterCard’s rules. The Card Holder agrees that such a “hold” may be placed on his account/accounts in the amount authorized. These authorization holds can affect the Card Holder’s available balance for other transactions. The amount of your available balance will be decreased by the amount of the “hold‟ for as long as the “hold‟ is in effect. This means that funds on “hold‟ will not be available for withdrawal, transfer or payment. In each instance, the Card Holder is responsible to the Bank for the amount that the Bank settles based upon either the placed-hold limits or the final amount presented and settled. The Card Holder will remain responsible to the Bank for settlement of all pre-authorized transactions even if such transactions come after the hold is removed. This is another reason that the Card Holder should take care to keep an accurate register and monitor the Account’s balance for pending transactions and cleared transaction to ensure that sufficient funds are in the Account at all times. k. Overdraft on Account of Pre-authorized Transactions: Please note that while the Bank does not provide any overdraft facility on your debit card transactions, the Bank shall have right to recover funds from you if your account gets over-drawn because the Bank has settled a preauthorized transaction done at a Merchant Establishment using your debit card or on account of other such transactions done using your debit card. You agree that you will remain responsible to the Bank for the amount by which your account is overdrawn. Any two occurrences of your account having non- sufficient funds to cover a pre-approved/ authorized debit card transaction will lead to closure of your account and cancellation of the linked debit card facility. l. Cancellation of Merchant debit-card authorizations: Generally, the Bank is not permitted to allow the Card Holder to cancel a hold within MasterCard limits for Transactions that were authorized by the Card Holder. If, however, the Card Holder suspects that a Transaction was fraudulent or otherwise unauthorized, the Card Holder should contact the Merchant and the Bank for possible ways to chargeback the debit. Please see the Error Resolution Procedures in subsequent paragraphs for more information. m. Notice Regarding Money Market Deposit Accounts: If the Account is a Money Market Deposit Account, certain limitations on transactions apply. A maximum of 6 transfers or withdrawals, or a combination of such transfers or withdrawals, are permitted during a calendar month or statement cycle of at least four weeks, including transfers or withdrawal by check, ACH to third parties, and/or Debit Card transactions with Merchant Establishments. However, any number of the following transactions using the Debit Card at an ATM are permitted: transfers of funds between your own Accounts held with the Bank and balance inquiries. n. International Transactions: Additionally, Card Holders may use the Card at ATMs and Merchant Establishments in U.S. and India. Any transaction done in INR will be converted to U.S. dollars. The exchange rate is established by MasterCard and not the Bank. The use of the Card may also be restricted with respect to certain foreign countries as required by U.S. laws and regulations. Any offer or option for exchange rate given by any ATM machine is no way related to SBI NY Branch and they are offered by local ATM service provider. Your account will be debited based upon the option selected by you.
c. Deposits: You can make deposits: • By check in person, during regular banking hours at the teller counter at the Bank. (Our regular banking hours are 9 AM - 4 PM ET Monday through Friday. Cash services are available only up to 3 PM ET) • By check in mail • By wire transfer • By pre-authorized credit such as for Social Security benefits • By cash in person, at our discretion Cash deposits may be subject to the Bank Secrecy Act reporting provisions. You may be asked to show a valid state id for cash deposit. There are no restrictions on the number of deposits in both Checking and Money Market Deposit Accounts. Funds will be made available in Checking Accounts as described in section 8 “Funds Availability.” The Bank maintains the right, for any reason or for no reason, to refuse to accept a deposit, or return in full or in part any deposit. Note - Check received in mail on any given day will be processed only on next business day. d. The Bank as Collecting Agent: The Bank accepts items for deposit or collection, as your collecting agent, subject to the following conditions:  All items will be credited subject to actual payment.  If payment is not received and the instrument is returned unpaid, the Bank shall have the right to charge back the item to your account. A service charge will also be levied for checks returned unpaid.
State Bank of India New York Customer Manual for Deposits 42 otherwise incur on account of our provision of the Service to you and caused by your breach of our agreement or by your negligence, misconduct or other wrongful or illegal use of the Service. k. Privacy and Sharing and Use of Information. The information we obtain from you in connection with the Service may be confidential. We will maintain the confidentiality of such information in accordance with our normal procedures for safeguarding information regarding our customers and our Privacy Policy found elsewhere in this Manual. l. Special Rights Regarding “Remittance Transfers.” The Consumer Financial Protection Bureau’s Regulation E governs certain outgoing electronic international transactions initiated by consumers that are defined as “remittance transfers.” Included within the definition of a remittance transfer are wire transfers of funds from any of your consumer deposit or Money Market Deposit Accounts to third parties who are located, or whose accounts are located, in foreign countries. This means that when you request a remittance transfer: (1) You will receive specific disclosures about the details of the requested transfer before we will complete the transfer. (2) You have certain cancellation and refund rights in connection with the transfer if you change your mind within 30 minutes after making payment and the funds have not already been picked up or deposited into the recipient’s account. These rights are briefly summarized below. (3) You have certain rights if you suspect an error or problem with a remittance transfer. These rights are briefly summarized below. (4) We will send you a notice that we debited your account and you paid for the transfer. (5) Certain provisions of this Manual, which limit our liability to you or make you responsible for losses in various circumstances, do not apply and our or your liability or responsibility is instead governed by the Regulation E remittance transfer rules. Among other things, those rules provide that if you give us the incorrect account number or recipient institution identifier, you could lose the transfer amount. (6) There may also be other provisions of this Manual, that are inconsistent with certain rights or responsibilities of you or us under the Regulation E remittance transfer rules. In the event of any such inconsistency, Regulation E will control and this Manual, will be deemed modified so as to be consistent with the remittance transfer rules, without affecting the validity of any other provisions of the Manual. What to do if you want to cancel a remittance transfer: You have the right to cancel a remittance transfer and obtain a refund of all funds paid to us, including any fees. To cancel, you must contact us: by telephone at (212)-521-3234; by email at cancelremit.nyb@statebank.com or in person at the Bank within 30 minutes of making payment for the transfer. If you have initiated the remittance through new “YONO US Portal”, you can use the Cancellation facility within 30 minutes of creation of transaction to self-cancel the transfer. When you contact us, you must provide us with information to help us identify the transfer you wish to cancel, including your name, address and telephone number, the amount and location where the funds were to be sent and any identification number we have provided for you in connection with the transfer. We will refund your money within three business days of your request to cancel a transfer, as long as the funds have not already been picked up or deposited into the recipient’s
q. Unauthorized Transactions: Tell us at once if you believe your Card has been lost or stolen, or if you believe that an electronic fund transfer has been made without your permission. Telephoning is the best way of keeping your possible losses down. If you tell us within 2 business days after you learn of the loss or theft of your Card, you can lose no more than $50 if someone used your Card without your permission.) If you do NOT tell us within 2 business days after you learn of the loss or theft of your Card, and we can prove we could have stopped someone from using your Card without your permission if you had told us, you could lose as much as $500. Also, if your statement shows transfers that you did not make, including those made by card, code or other means, tell us at once. If you do not tell us within 60 days after the statement was mailed to you, you may not get back any money you lost after the 60 days if we can prove that we could have stopped someone from taking the money if you had told us in time. If a good reason (such as a long trip or a hospital stay) kept you from telling us, we will extend the time periods. A Lost or Stolen Card may be reported by contacting: 1-800-523-4175. This toll-free number is available 24-hours a day. In case you wish to send us letter, our address is State Bank of India, Deposit Section, 460 Park Avenue, New York, NY 10022, USA. For purposes of these disclosures, our business days are Monday through Friday. All federal and state bank holidays are not included. Kindly read the Debit Card Agreement available as Annexure B on page 49 for more information relating to Debit Card Services. 10. Remittances: The minimum amount for initiating a remittance is USD 100.00 or its equivalent in other currencies.
11. International Transactions: Additionally, Card Holders may use the Card at ATM and Merchant Establishments in countries other than the U.S. and India, if so permitted by the Bank, and in currencies other than U.S. Dollars. The Transaction will be converted to U.S. dollars. The exchange rate is decided by MasterCard and not the Bank. The use of the Card may be restricted with respect to certain foreign countries as required by U.S. laws and regulations. Fees: The Bank provides the Card at no charge, subject to such changes as Bank may make from time to time with advance notice as provided by law. In some instances, there may be charges imposed by ATMs operated by other banks and financial institutions. Business Days: The Bank’s business days are Monday through Friday, 9:00 a.m. to 4:00 p.m. (cash services available up to 3:00 pm only) barring the banking holidays as prescribed by the New York Department of Financial Services. Disclosure of Account Information to Third Parties: Please see our privacy policy at the end of this agreement for privacy information.
State Bank of India New York Customer Manual for Deposits 44 decide not to agree to the terms and conditions discussed therein, you may not use Internet Banking. The Online Banking Terms of Service govern Internet Banking and supersede any inconsistent agreements or requirements. However, the terms of this Manual will govern and supersede any inconsistent statements contained in the Online Banking Terms of Service with regard to the (i) types of accounts that you may have with the Bank and the terms of those accounts; (ii) Bank’s rules governing wire transfers or international remittances including our liability to you and how we will inform you about the costs and fees and exchange rates for remittances and your ability to stop the remittance; (iii) Bank’s privacy and sharing of information policies and (iv) governing law of our agreement. Note: The customer is required to give full name (no initials) while creating recipient for the purpose of sending remittances. Thank You IMPORTANT If there is a conflict between the information stated in any Bank agreement or brochure/Manual (including this one) and something said by one of our employees, the written information will be used to resolve the conflict. The Bank may refuse to follow any instructions it believes is not permitted under law or regulation. The Manual is governed by and shall be interpreted under the laws of the State of New York. Any litigation shall be filed and heard only in the federal or state courts located in New York. State Bank of India reserves the right to change the Manual as required by law or Bank policy. Such changes may be displayed on the notice board in the Bank, posted on the website (https://sbinewyork.statebank) or advised to customers by mail. If you have any questions regarding the information provided in the Manual or your account relationship, you may contact us by mail by writing to the following address: State Bank of India DRS Department 460 Park Avenue New York Branch, NY 10022 U.S.A. Tel : General: (212)521-3200
State Bank of India New York Customer Manual for Deposits 41 We may send the wire through such correspondents as appear appropriate to us in our sole discretion and we shall not be liable for their neglect or negligence. We are not under any obligation to detect errors or inconsistencies in any of your instructions. We will not be liable for any losses caused by errors or inaccuracies in your instructions. We will have the right, in our sole discretion, to reject any instructions, to set exposure limits on the amounts you may wire and impose additional conditions that must be satisfied before we will accept any instructions. i. Limits on Remittances. You will provide a statement of the purpose of the remittance. You may not transfer more than our specified maximum dollar limit in any single day. We may change any of the foregoing limits in our discretion at any time. Remittances may not be sent by us through or into any country in violation of U.S. laws. We will charge to and debit from the account identified in the instruction the amount of money specified in the instruction to be paid to the beneficiary designated therein and all fees and any costs and expenses. You must verify, prior to issuing an instruction for us to initiate a remittance, that funds are available in your account for us to initiate the remittance. If there are insufficient funds, we may, in our sole discretion: (i) execute the transaction, in which event, immediately upon our demand, you will pay to us all amounts sent and all fees and costs and expenses associated with the transfer; (ii) delay the remittance; or (iii) cancel the instruction and not complete the remittance. We will not have any liability to you or any other person for losses incurred by you or any other person when a remittance is not completed because there are not sufficient funds available. j. Limits on Liability and Indemnification. EXCEPT AS PROVIDED IN EXPRESS TERMS TO THE CONTRARY IN THIS MANUAL, THE SERVICE IS PROVIDED ON AN “AS IS”, “AS AVAILABLE” BASIS. WE MAKE NO WARRANTY, EXPRESS OR IMPLIED, TO YOU OR ANY OTHER PERSON REGARDING THE SERVICE, INCLUDING ANY WARRANTY OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE OR NONINFRINGEMENT. Subject to the limitations on our liability set forth in this Agreement, we will have liability to you for any losses you suffer or incur as a direct result of a material breach of this Agreement by us or as a direct result of our gross negligence or intentional misconduct in performing or failing to perform the Service. Our liability will be limited, however, as follows: (i) for delays in payment, our total liability to you or any person, including the beneficiary, will be limited to payment of interest for the period of delay; (ii) for non-completion of the instructions, our total liability to any person, including you, will be limited to reimbursement to such person of his or her actual out-of-pocket expenses in the funds transfer, and any actual out-of-pocket incidental expenses and interest losses; and (iii) for any other cause, the aggregate amount of the fees and charges paid by you to us for the Service during the prior 6 months. We will not be liable to you or any other person for, and you release us from liability with respect to (i) any indirect, consequential, special, incidental, exemplary or punitive damages, including loss of profits, loss of business or loss of data; or (ii) attorneys’ fees or fees of other professionals. You will fully indemnify us and hold us harmless, from and against all losses we may suffer or
c. Deposits: You can make deposits: • By check in person, during regular banking hours at the teller counter at the Bank. (Our regular banking hours are 9 AM - 4 PM ET Monday through Friday. Cash services are available only up to 3 PM ET) • By check in mail • By wire transfer • By pre-authorized credit such as for Social Security benefits • By cash in person, at our discretion Cash deposits may be subject to the Bank Secrecy Act reporting provisions. You may be asked to show a valid state id for cash deposit. There are no restrictions on the number of deposits in both Checking and Money Market Deposit Accounts. Funds will be made available in Checking Accounts as described in section 8 “Funds Availability.” The Bank maintains the right, for any reason or for no reason, to refuse to accept a deposit, or return in full or in part any deposit. Note - Check received in mail on any given day will be processed only on next business day. d. The Bank as Collecting Agent: The Bank accepts items for deposit or collection, as your collecting agent, subject to the following conditions:  All items will be credited subject to actual payment.  If payment is not received and the instrument is returned unpaid, the Bank shall have the right to charge back the item to your account. A service charge will also be levied for checks returned unpaid.
State Bank of India New York Customer Manual for Deposits 30 offices are collectively referred to as SBI-US in this Notice. What we do How does SBI–US protect my personal information? To protect your personal information from unauthorized access and use, we use security measures that comply with federal law. SBI-US has established physical, technological and procedural systems and controls for protecting the confidentiality of your personal information. SBI-US employees undergo training on protecting customer information. How does SBI–US collect my personal information? We collect your personal information, for example, when you Open an account or deposit money Pay your bills or apply for a loan Use your credit or debit card We also collect your personal information from credit bureaus. Why can't I limit all sharing? Federal law gives you the right to limit only Sharing for affiliates’ everyday business purposes- information about your creditworthiness Affiliates from using your information to market to you Sharing for non-affiliates to market to you State laws and individual companies may give you additional rights to limit sharing. See below for more on your rights under state law.
c) “Account(s)” means the Card Holders Checking, Money Market Deposit, or other Account(s) to which the Card is linked. d) “ATM” means any Automated Teller machine located in the U.S. or otherwise, whether operated by the STAR Network, the Bank, or by another bank or financial institution, at which the Card Holder may use the Card to access funds held in the Account. e) “PIN” means a 4-digit Personal Identification Number, required for accessing a Debit Card, allocated to the Card Holder by the Bank or chosen by the Card Holder from time to time. f) “Transaction” means an instruction given by a Card Holder to the Bank, affected by a Card Holder’s use of the Debit Card directly or indirectly. g) “Merchant” or “Merchant Establishment” shall mean retailers, service providers, or establishments, wherever located, which accept the Card as payment for products and services. h) “STAR Network” means the network of ATMs operated by the STAR (First Data) Network in and outside the U.S., at which the Debit Card may be used, to the extent State Bank of India, New York, has authorized access to such network outside the U.S.
State Bank of India New York Customer Manual for Deposits 56 and other applicable laws, may keep records or make reports of high-dollar transactions, suspicious activities, or foreign currency transactions, as necessary to comply with the law and to detect and prevent illegal activity. There are serious civil and criminal consequences to engaging in illegal financial transactions. 13. Limitation of Bank’s Liability: If we do not complete a transfer to or from your account on time or in the correct amount according to our agreement with you, we will be liable for your losses or damages as further described herein. However, there are some exceptions. We will not be liable, for instance: (1) If, through no fault of ours, you do not have enough money in your account to make the transfer. (2) If the transfer would go over the credit limit on your overdraft line. (3) If the automated teller machine where you are making the transfer does not have enough cash. (4) If the system was not working properly and you knew about the breakdown when you started the transfer. (5) If circumstances beyond our control (such as fire or flood) prevent the transfer, despite reasonable precautions that we have taken.
State Bank of India New York Customer Manual for Deposits 39 a. Funds Transfer Services to India Remittances can be sent both in US dollars and in Indian rupees, at your option. At What Rate Are Dollars Converted to Rupees? For remittances in Rupees, the conversion of US dollars into rupees will be done at the rate determined by SBI New York on the day and time of the conversion. For remittances in US dollars to India the funds will be converted into Rupees based on the laws and banking practice prevailing in India. Modes of Transfer of Funds Remittances can be sent through Wire transfer. Please note that Wire transfers in dollars can be sent only to those authorized branches of Banks where SWIFT facilities are available. While all efforts will be made to ensure timely delivery of funds to the beneficiaries, the Bank shall not be under any liability for any errors, negligence, default or any failure on the part of the remitting customer in furnishing vital information for good delivery of the funds. Please read the Terms and Conditions for the remittance mentioned on the remittance forms. b. Transfer of Funds to Other Banks in the U.S. Funds can be transferred to other banks in the U.S. through CHIPS or Fedwire, as we are members of both of these systems. Our ABA routing number is 0260-0914-0 and CHIPS UID is 034282. c. Transfer of Funds to Other Countries We can also transfer your funds to accounts in banks in foreign countries other than India through our correspondents. You may advise us the intermediary bank of your beneficiary’s Bank, wherever required. We can also quote firm exchange rates and effect remittances through our correspondents, in the following currencies: GBP, EUR, CAD, JPY, CHF, AUD, NPR, LKR, BDT Remittances in other currencies can be offered depending upon the volume of business and availability of correspondent relationship in that currency. d. How to Apply for a Remittance Request for remittance services mentioned in a, b, c above should be made through Internet Banking (online and offline) through our website (https://sbinewyork.statebank) or by submission of our prescribed application form. The remittance application form is available on our website https://sbinewyork.statebank. Individual customers can submit the form alongwith a copy of valid photo ID over the counter at the Branch or mail the set to the Branch. The Bank will not accept remittance form through fax or e-mail for individual customers. See “Schedule of Fees & Charges” in this Manual for applicable charges. e. Use of the Remittance Service (the “Service”) The Service is available for use only by individuals and corporate customers who are account holders at the Bank. The Service will permit you to issue non-repetitive orders for us to transfer funds from your account to accounts at other domestic or international financial institutions, in amounts up to any daily limits or individual customer limits which we may establish and change in our discretion

Test Case

Question: What are the modes of transfer of funds for remittances?

Metric Baseline Score Current Score
answer_accuracy 0.85819343 0.86717423 (+0.00898080)
groundedness 0.91583457 0.89493055 (-0.02090403)
mean_answer_similarity 0.88772816 0.88029448 (-0.00743369)
mean_reciprocal_rank 1.00000000 1.00000000
min_answer_similarity 0.85819343 0.78720431 (-0.07098912)
model_failures 0.00000000 0.00000000
model_generation_failures 0.00000000 0.00000000
model_parse_failures 0.00000000 0.00000000
model_passes 1.00000000 1.00000000
model_retrieval_failures 0.00000000 0.00000000
precision_relevancy 0.87129915 0.86791560 (-0.00338355)
recall_relevancy 0.94769275 0.94769275
rouge_1 0.05714286 0.06334842 (+0.00620556)
rouge_2 0.04115226 0.05479452 (+0.01364226)
rouge_l 0.05714286 0.06334842 (+0.00620556)

Legend:

  • Metric : The evaluation metric name. Shown in bold red if the metric flipped between pass/fail status.
  • Baseline Score : The metric value for the baseline model. Shown in bold green if baseline won, red if lost.
  • Current Score : The metric value for the current model, followed by the delta from baseline in parentheses.
  • Delta Colors : Green = improvement, Orange = regression, Red = metric flipped to fail.
  • Winner Determination : For each metric, the winner is determined by comparing scores while considering the metric's directionality (higher is better vs. lower is better).
Baseline Result Current Result
Model claude-3-7-sonnet-20250219@h2ogpte claude-3-7-sonnet-20250219@h2ogpte
Question What are the modes of transfer of funds for remittances?
Expected answer Remittances can be sent through Wire transfer.
Actual Answer According to the document, there are several modes of transfer of funds for remittances: 1. Wire Transfer: - For remittances to India, funds can be sent through wire transfer in both US dollars and Indian rupees - Wire transfers in dollars can only be sent to authorized branches of banks where SWIFT facilities are available - This is mentioned on page 39 of the document 2. CHIPS or Fedwire: - For transfers to other banks in the U.S. - The document states that State Bank of India is a member of both these systems - Their ABA routing number is 0260-0914-0 and CHIPS UID is 034282 3. International Transfers through Correspondents: - For transfers to countries other than India - The bank can transfer funds to accounts in foreign banks through their correspondents - They can quote firm exchange rates and effect remittances in several currencies including GBP, EUR, CAD, JPY, CHF, AUD, NPR, LKR, BDT - Remittances in other currencies may be available depending on business volume and correspondent relationships 4. Online Banking: - Customers can initiate remittances through the bank's Internet Banking system (YONO US Portal) - This is mentioned as one of the acceptable modes for non-face-to-face requests for wire/remittance transactions on page 22 The document also mentions that requests for remittance services can be made through Internet Banking (online and offline) through their website or by submission of their prescribed application form, which is available on their website. According to the document, State Bank of India New York offers several modes of transfer of funds for remittances: 1. Wire Transfer: This is the primary mode mentioned for remittances. As stated on page 39, "Remittances can be sent through Wire transfer." The document notes that "Wire transfers in dollars can be sent only to those authorized branches of Banks where SWIFT facilities are available." 2. CHIPS or Fedwire: For transfers to other banks in the U.S., as mentioned on page 39: "Funds can be transferred to other banks in the U.S. through CHIPS or Fedwire, as we are members of both of these systems." 3. International Transfers through Correspondents: For transfers to countries other than India, the bank can "transfer your funds to accounts in banks in foreign countries other than India through our correspondents" (page 39). 4. Online Banking: Customers can initiate remittances through the bank's Internet Banking platform (YONO US Portal). Page 43 mentions that through Internet Banking, customers may "Transfer funds to other Banks within USA through Wire Transfers" and "Transfer INR to India" and "Transfer USD to any Bank outside USA too." The document also specifies that remittances can be sent both in US dollars and in Indian rupees, at the customer's option (page 39).
Retrieved Context
State Bank of India New York Customer Manual for Deposits 39 a. Funds Transfer Services to India Remittances can be sent both in US dollars and in Indian rupees, at your option. At What Rate Are Dollars Converted to Rupees? For remittances in Rupees, the conversion of US dollars into rupees will be done at the rate determined by SBI New York on the day and time of the conversion. For remittances in US dollars to India the funds will be converted into Rupees based on the laws and banking practice prevailing in India. Modes of Transfer of Funds Remittances can be sent through Wire transfer. Please note that Wire transfers in dollars can be sent only to those authorized branches of Banks where SWIFT facilities are available. While all efforts will be made to ensure timely delivery of funds to the beneficiaries, the Bank shall not be under any liability for any errors, negligence, default or any failure on the part of the remitting customer in furnishing vital information for good delivery of the funds. Please read the Terms and Conditions for the remittance mentioned on the remittance forms. b. Transfer of Funds to Other Banks in the U.S. Funds can be transferred to other banks in the U.S. through CHIPS or Fedwire, as we are members of both of these systems. Our ABA routing number is 0260-0914-0 and CHIPS UID is 034282. c. Transfer of Funds to Other Countries We can also transfer your funds to accounts in banks in foreign countries other than India through our correspondents. You may advise us the intermediary bank of your beneficiary’s Bank, wherever required. We can also quote firm exchange rates and effect remittances through our correspondents, in the following currencies: GBP, EUR, CAD, JPY, CHF, AUD, NPR, LKR, BDT Remittances in other currencies can be offered depending upon the volume of business and availability of correspondent relationship in that currency. d. How to Apply for a Remittance Request for remittance services mentioned in a, b, c above should be made through Internet Banking (online and offline) through our website (https://sbinewyork.statebank) or by submission of our prescribed application form. The remittance application form is available on our website https://sbinewyork.statebank. Individual customers can submit the form alongwith a copy of valid photo ID over the counter at the Branch or mail the set to the Branch. The Bank will not accept remittance form through fax or e-mail for individual customers. See “Schedule of Fees & Charges” in this Manual for applicable charges. e. Use of the Remittance Service (the “Service”) The Service is available for use only by individuals and corporate customers who are account holders at the Bank. The Service will permit you to issue non-repetitive orders for us to transfer funds from your account to accounts at other domestic or international financial institutions, in amounts up to any daily limits or individual customer limits which we may establish and change in our discretion
p. Mode of transactions/documents submission You may use the following modes of transactions/document submission for various functions related to your deposit account: Functions Acceptable Modes for Non- Face to Face requests Financial Transactions 1. Wire / Remittance/ Draft issuance requests Online Banking self-initiated transactions, Mail*, Online Banking secure message signed requests 2. Transfer (within branch) transactions Online Banking self-initiated transactions, Mail*, Online Banking secure message (signed requests) 3. Account /CD Closure request Mail*, Online Banking secure message signed requests, Online Banking closure request (under Account Services) 4. CD part payment request (on maturity) Mail*, Online Banking secure message (signed requests) 5. Receipt of checks for clearing Mail* 6. Cancel Remittance Request (Reg E requirement) Mail*, email, phone, on “YONO US Portal” itself within 30 minutes of creating the transaction online.
9. ELECTRONIC FUND TRANSFERS (Applicable only to Consumer Accounts) a. Applicability: This section addresses the items and conditions which apply when you authorize Electronic Funds Transfers (EFT) of Federal recurring payments such as Social Security credits (SSA, SSI checks, etc.), ACH transactions and debit card transactions to your account. These terms apply if you receive a State Bank of India, New York Branch ATM-cum- Debit Card. If you are approved, the card is forwarded to you at your registered mailing address. By activating the card, you agree to these terms and conditions. All other terms and conditions for your account, as set forth in this Manual, will also apply. An Electronic Funds Transfer means any transfer of funds started through an electronic terminal or a magnetic tape for the purpose of instructing or authorizing us to credit/ debit your account. b. Definitions: Additional terms are defined as follows: “Card” or “Debit Card” refers to the State Bank of India -- New York Branch Debit Card issued by the Bank to a Card Holder. The card issued is co-branded by MasterCard. “Card Holder” means the approved Customer who has been issued the Card and who is authorized to hold and use the Card. Card Holder is referred to as “you”, “your”, or similar pronouns. Words in
q. Unauthorized Transactions: Tell us at once if you believe your Card has been lost or stolen, or if you believe that an electronic fund transfer has been made without your permission. Telephoning is the best way of keeping your possible losses down. If you tell us within 2 business days after you learn of the loss or theft of your Card, you can lose no more than $50 if someone used your Card without your permission.) If you do NOT tell us within 2 business days after you learn of the loss or theft of your Card, and we can prove we could have stopped someone from using your Card without your permission if you had told us, you could lose as much as $500. Also, if your statement shows transfers that you did not make, including those made by card, code or other means, tell us at once. If you do not tell us within 60 days after the statement was mailed to you, you may not get back any money you lost after the 60 days if we can prove that we could have stopped someone from taking the money if you had told us in time. If a good reason (such as a long trip or a hospital stay) kept you from telling us, we will extend the time periods. A Lost or Stolen Card may be reported by contacting: 1-800-523-4175. This toll-free number is available 24-hours a day. In case you wish to send us letter, our address is State Bank of India, Deposit Section, 460 Park Avenue, New York, NY 10022, USA. For purposes of these disclosures, our business days are Monday through Friday. All federal and state bank holidays are not included. Kindly read the Debit Card Agreement available as Annexure B on page 49 for more information relating to Debit Card Services. 10. Remittances: The minimum amount for initiating a remittance is USD 100.00 or its equivalent in other currencies.
State Bank of India New York Customer Manual for Deposits 44 decide not to agree to the terms and conditions discussed therein, you may not use Internet Banking. The Online Banking Terms of Service govern Internet Banking and supersede any inconsistent agreements or requirements. However, the terms of this Manual will govern and supersede any inconsistent statements contained in the Online Banking Terms of Service with regard to the (i) types of accounts that you may have with the Bank and the terms of those accounts; (ii) Bank’s rules governing wire transfers or international remittances including our liability to you and how we will inform you about the costs and fees and exchange rates for remittances and your ability to stop the remittance; (iii) Bank’s privacy and sharing of information policies and (iv) governing law of our agreement. Note: The customer is required to give full name (no initials) while creating recipient for the purpose of sending remittances. Thank You IMPORTANT If there is a conflict between the information stated in any Bank agreement or brochure/Manual (including this one) and something said by one of our employees, the written information will be used to resolve the conflict. The Bank may refuse to follow any instructions it believes is not permitted under law or regulation. The Manual is governed by and shall be interpreted under the laws of the State of New York. Any litigation shall be filed and heard only in the federal or state courts located in New York. State Bank of India reserves the right to change the Manual as required by law or Bank policy. Such changes may be displayed on the notice board in the Bank, posted on the website (https://sbinewyork.statebank) or advised to customers by mail. If you have any questions regarding the information provided in the Manual or your account relationship, you may contact us by mail by writing to the following address: State Bank of India DRS Department 460 Park Avenue New York Branch, NY 10022 U.S.A. Tel : General: (212)521-3200
State Bank of India New York Customer Manual for Deposits IRS, etc.) Printing and mailing of checks. First check book of up-to 50 leaves free thereafter the actual cost charged by the supplier Actual cost charged by the supplier Replacement/reimbursement fee for stop payments on official and certified checks $15 $15 Collection of checks, draft or other instruments drawn on banks outside the USA. $50 $50 Uncollected deposit items (checks/drafts negotiated through us which are drawn on other banks and are returned unpaid) $50 $50 Balance confirmation certificate $5 $5 For any other account information sought by the customer. Charges per instance per document: - For current calendar year - For previous calendar year - For all other years (up to 5 previous years) $ 5 $ 10 $ 15 $ 5 $ 10 $ 15 C. REMITTANCE FEES Rupee remittances Wire Transfer (Initiated through Online Banking) FREE* Rupee remittances –Wire Transfer (Other than Initiated through Online Banking) Up to US Dollar 999 or equivalent US Dollar 1000 or above $5 Free $5 Free Wire transfer in U.S. dollars to Any Bank $25 (For both Online on YONO and offline at Branch) $25 Wire transfer in currencies other than USD and INR For less than $2,500.00 $2,500.00 and above $35 Free $35 Free Cancellation of or issue of duplicate draft/refund of funds for lost draft. (In $25* $25*
State Bank of India New York Customer Manual for Deposits 43 account. What to do if you think there has been an error or problem with a remittance transfer: (1) Call us at 212-521-3234; or email at remiterror.nyb@statebank.com (2) Write to us at Remittance Section, State Bank of India, 460 Park Avenue, New York, NY-10022, USA. You must contact us within 180 days of the date we promised that the funds would be made available to the recipient. When you do, please tell us: (1) Your name and telephone number or address; (2) The error or problem with the transfer, and why you believe it is an error or problem; (3) The name of the person receiving the funds, and if you know it, his or her telephone number or address; (4) The dollar amount of the transfer; and (5) The confirmation code or number of the transaction. We will determine whether an error occurred within 90 days after you contact us, and we will correct any error promptly. We will tell you the results within three business days after completing our investigation. If we decide that there was no error, we will send you a written explanation. You may ask for copies of any documents we used in our investigation. 11. Internet Banking/ YONO US Portal: a. Internet Services This section of the Manual describes your use of the Bank’s Online Internet-based Banking Service (“Internet Banking”). By using the new Internet Banking, you may:  Open an account (Currently, this facility is not available)  Obtain account balance and other banking information  Transfer funds between own accounts  Transfer funds to other Banks within USA through Wire Transfers*  Transfer INR to India*  Transfer USD to any Bank outside USA too*  Send secure messages to the Bank  Order new checks / Stop Checks*  Uploading documents as attachment through Secure Message Platform  Pull fund from own accounts with other U.S. banks *Charges may apply b. Internet Banking Terms of Service You may enroll in our new Internet Banking at our website at https://sbinewyork.statebank/online- banking . Once you enroll on the new portal, you will have access to your account information for viewing purposes only. In order to obtain transaction rights in online banking mode, you must apply for Transaction Rights under “Requests/Services” Tab. The request shall be approved by the Bank upon receipt. During the enrollment process you will be presented with a copy of the Bank’s Online Banking Terms of Service. The Online Banking Terms of Service governs your use of the SBI Online Banking Services. Use of Internet Banking is expressly conditioned on your acceptance of these Online Banking Terms of Service. By using the Internet Banking, you acknowledge that you have read and agree to abide by the terms and conditions of these Online Banking Terms of Service. If you
State Bank of India New York Customer Manual for Deposits 42 otherwise incur on account of our provision of the Service to you and caused by your breach of our agreement or by your negligence, misconduct or other wrongful or illegal use of the Service. k. Privacy and Sharing and Use of Information. The information we obtain from you in connection with the Service may be confidential. We will maintain the confidentiality of such information in accordance with our normal procedures for safeguarding information regarding our customers and our Privacy Policy found elsewhere in this Manual. l. Special Rights Regarding “Remittance Transfers.” The Consumer Financial Protection Bureau’s Regulation E governs certain outgoing electronic international transactions initiated by consumers that are defined as “remittance transfers.” Included within the definition of a remittance transfer are wire transfers of funds from any of your consumer deposit or Money Market Deposit Accounts to third parties who are located, or whose accounts are located, in foreign countries. This means that when you request a remittance transfer: (1) You will receive specific disclosures about the details of the requested transfer before we will complete the transfer. (2) You have certain cancellation and refund rights in connection with the transfer if you change your mind within 30 minutes after making payment and the funds have not already been picked up or deposited into the recipient’s account. These rights are briefly summarized below. (3) You have certain rights if you suspect an error or problem with a remittance transfer. These rights are briefly summarized below. (4) We will send you a notice that we debited your account and you paid for the transfer. (5) Certain provisions of this Manual, which limit our liability to you or make you responsible for losses in various circumstances, do not apply and our or your liability or responsibility is instead governed by the Regulation E remittance transfer rules. Among other things, those rules provide that if you give us the incorrect account number or recipient institution identifier, you could lose the transfer amount. (6) There may also be other provisions of this Manual, that are inconsistent with certain rights or responsibilities of you or us under the Regulation E remittance transfer rules. In the event of any such inconsistency, Regulation E will control and this Manual, will be deemed modified so as to be consistent with the remittance transfer rules, without affecting the validity of any other provisions of the Manual. What to do if you want to cancel a remittance transfer: You have the right to cancel a remittance transfer and obtain a refund of all funds paid to us, including any fees. To cancel, you must contact us: by telephone at (212)-521-3234; by email at cancelremit.nyb@statebank.com or in person at the Bank within 30 minutes of making payment for the transfer. If you have initiated the remittance through new “YONO US Portal”, you can use the Cancellation facility within 30 minutes of creation of transaction to self-cancel the transfer. When you contact us, you must provide us with information to help us identify the transfer you wish to cancel, including your name, address and telephone number, the amount and location where the funds were to be sent and any identification number we have provided for you in connection with the transfer. We will refund your money within three business days of your request to cancel a transfer, as long as the funds have not already been picked up or deposited into the recipient’s
State Bank of India New York Customer Manual for Deposits 22 The Bank also reserves the right to close your accounts without any prior notice for any reason in the Bank’s sole discretion. The Bank will mail you a check for the balance in the accounts. The Bank may give you notice before taking this step, although we are not obliged to do so. We also reserve the right to close your account if your account has a NIL balance for more than three (3) months. Payment of interest on your account (if your account is interest-bearing) will cease from the date of closure of the account. Checking and Money Market Deposit Accounts cannot be negotiated or transferred to another individual or corporation or entity. o. Bank’s Liability: If the Bank does not complete a transfer to or from your account in time or for the correct amount as per your agreement with us, we will be liable for your direct losses or damages but not any indirect costs or punitive costs or damages. However, the Bank will not be liable in circumstances such as:  The funds in your account are not sufficient to affect the transfer  The automated teller machine where you were making the transfer has a communication failure.  The automated teller machine did not have enough cash  If circumstances beyond our control prevent the transfer.  If we are unable to confirm the transaction with you (if required)  Any other exceptions stated in our agreement with you.
State Bank of India New York Customer Manual for Deposits 41 We may send the wire through such correspondents as appear appropriate to us in our sole discretion and we shall not be liable for their neglect or negligence. We are not under any obligation to detect errors or inconsistencies in any of your instructions. We will not be liable for any losses caused by errors or inaccuracies in your instructions. We will have the right, in our sole discretion, to reject any instructions, to set exposure limits on the amounts you may wire and impose additional conditions that must be satisfied before we will accept any instructions. i. Limits on Remittances. You will provide a statement of the purpose of the remittance. You may not transfer more than our specified maximum dollar limit in any single day. We may change any of the foregoing limits in our discretion at any time. Remittances may not be sent by us through or into any country in violation of U.S. laws. We will charge to and debit from the account identified in the instruction the amount of money specified in the instruction to be paid to the beneficiary designated therein and all fees and any costs and expenses. You must verify, prior to issuing an instruction for us to initiate a remittance, that funds are available in your account for us to initiate the remittance. If there are insufficient funds, we may, in our sole discretion: (i) execute the transaction, in which event, immediately upon our demand, you will pay to us all amounts sent and all fees and costs and expenses associated with the transfer; (ii) delay the remittance; or (iii) cancel the instruction and not complete the remittance. We will not have any liability to you or any other person for losses incurred by you or any other person when a remittance is not completed because there are not sufficient funds available. j. Limits on Liability and Indemnification. EXCEPT AS PROVIDED IN EXPRESS TERMS TO THE CONTRARY IN THIS MANUAL, THE SERVICE IS PROVIDED ON AN “AS IS”, “AS AVAILABLE” BASIS. WE MAKE NO WARRANTY, EXPRESS OR IMPLIED, TO YOU OR ANY OTHER PERSON REGARDING THE SERVICE, INCLUDING ANY WARRANTY OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE OR NONINFRINGEMENT. Subject to the limitations on our liability set forth in this Agreement, we will have liability to you for any losses you suffer or incur as a direct result of a material breach of this Agreement by us or as a direct result of our gross negligence or intentional misconduct in performing or failing to perform the Service. Our liability will be limited, however, as follows: (i) for delays in payment, our total liability to you or any person, including the beneficiary, will be limited to payment of interest for the period of delay; (ii) for non-completion of the instructions, our total liability to any person, including you, will be limited to reimbursement to such person of his or her actual out-of-pocket expenses in the funds transfer, and any actual out-of-pocket incidental expenses and interest losses; and (iii) for any other cause, the aggregate amount of the fees and charges paid by you to us for the Service during the prior 6 months. We will not be liable to you or any other person for, and you release us from liability with respect to (i) any indirect, consequential, special, incidental, exemplary or punitive damages, including loss of profits, loss of business or loss of data; or (ii) attorneys’ fees or fees of other professionals. You will fully indemnify us and hold us harmless, from and against all losses we may suffer or
State Bank of India New York Customer Manual for Deposits 39 a. Funds Transfer Services to India Remittances can be sent both in US dollars and in Indian rupees, at your option. At What Rate Are Dollars Converted to Rupees? For remittances in Rupees, the conversion of US dollars into rupees will be done at the rate determined by SBI New York on the day and time of the conversion. For remittances in US dollars to India the funds will be converted into Rupees based on the laws and banking practice prevailing in India. Modes of Transfer of Funds Remittances can be sent through Wire transfer. Please note that Wire transfers in dollars can be sent only to those authorized branches of Banks where SWIFT facilities are available. While all efforts will be made to ensure timely delivery of funds to the beneficiaries, the Bank shall not be under any liability for any errors, negligence, default or any failure on the part of the remitting customer in furnishing vital information for good delivery of the funds. Please read the Terms and Conditions for the remittance mentioned on the remittance forms. b. Transfer of Funds to Other Banks in the U.S. Funds can be transferred to other banks in the U.S. through CHIPS or Fedwire, as we are members of both of these systems. Our ABA routing number is 0260-0914-0 and CHIPS UID is 034282. c. Transfer of Funds to Other Countries We can also transfer your funds to accounts in banks in foreign countries other than India through our correspondents. You may advise us the intermediary bank of your beneficiary’s Bank, wherever required. We can also quote firm exchange rates and effect remittances through our correspondents, in the following currencies: GBP, EUR, CAD, JPY, CHF, AUD, NPR, LKR, BDT Remittances in other currencies can be offered depending upon the volume of business and availability of correspondent relationship in that currency. d. How to Apply for a Remittance Request for remittance services mentioned in a, b, c above should be made through Internet Banking (online and offline) through our website (https://sbinewyork.statebank) or by submission of our prescribed application form. The remittance application form is available on our website https://sbinewyork.statebank. Individual customers can submit the form alongwith a copy of valid photo ID over the counter at the Branch or mail the set to the Branch. The Bank will not accept remittance form through fax or e-mail for individual customers. See “Schedule of Fees & Charges” in this Manual for applicable charges. e. Use of the Remittance Service (the “Service”) The Service is available for use only by individuals and corporate customers who are account holders at the Bank. The Service will permit you to issue non-repetitive orders for us to transfer funds from your account to accounts at other domestic or international financial institutions, in amounts up to any daily limits or individual customer limits which we may establish and change in our discretion
9. ELECTRONIC FUND TRANSFERS (Applicable only to Consumer Accounts) a. Applicability: This section addresses the items and conditions which apply when you authorize Electronic Funds Transfers (EFT) of Federal recurring payments such as Social Security credits (SSA, SSI checks, etc.), ACH transactions and debit card transactions to your account. These terms apply if you receive a State Bank of India, New York Branch ATM-cum- Debit Card. If you are approved, the card is forwarded to you at your registered mailing address. By activating the card, you agree to these terms and conditions. All other terms and conditions for your account, as set forth in this Manual, will also apply. An Electronic Funds Transfer means any transfer of funds started through an electronic terminal or a magnetic tape for the purpose of instructing or authorizing us to credit/ debit your account. b. Definitions: Additional terms are defined as follows: “Card” or “Debit Card” refers to the State Bank of India -- New York Branch Debit Card issued by the Bank to a Card Holder. The card issued is co-branded by MasterCard. “Card Holder” means the approved Customer who has been issued the Card and who is authorized to hold and use the Card. Card Holder is referred to as “you”, “your”, or similar pronouns. Words in
State Bank of India New York Customer Manual for Deposits IRS, etc.) Printing and mailing of checks. First check book of up-to 50 leaves free thereafter the actual cost charged by the supplier Actual cost charged by the supplier Replacement/reimbursement fee for stop payments on official and certified checks $15 $15 Collection of checks, draft or other instruments drawn on banks outside the USA. $50 $50 Uncollected deposit items (checks/drafts negotiated through us which are drawn on other banks and are returned unpaid) $50 $50 Balance confirmation certificate $5 $5 For any other account information sought by the customer. Charges per instance per document: - For current calendar year - For previous calendar year - For all other years (up to 5 previous years) $ 5 $ 10 $ 15 $ 5 $ 10 $ 15 C. REMITTANCE FEES Rupee remittances Wire Transfer (Initiated through Online Banking) FREE* Rupee remittances –Wire Transfer (Other than Initiated through Online Banking) Up to US Dollar 999 or equivalent US Dollar 1000 or above $5 Free $5 Free Wire transfer in U.S. dollars to Any Bank $25 (For both Online on YONO and offline at Branch) $25 Wire transfer in currencies other than USD and INR For less than $2,500.00 $2,500.00 and above $35 Free $35 Free Cancellation of or issue of duplicate draft/refund of funds for lost draft. (In $25* $25*
State Bank of India New York Customer Manual for Deposits 43 account. What to do if you think there has been an error or problem with a remittance transfer: (1) Call us at 212-521-3234; or email at remiterror.nyb@statebank.com (2) Write to us at Remittance Section, State Bank of India, 460 Park Avenue, New York, NY-10022, USA. You must contact us within 180 days of the date we promised that the funds would be made available to the recipient. When you do, please tell us: (1) Your name and telephone number or address; (2) The error or problem with the transfer, and why you believe it is an error or problem; (3) The name of the person receiving the funds, and if you know it, his or her telephone number or address; (4) The dollar amount of the transfer; and (5) The confirmation code or number of the transaction. We will determine whether an error occurred within 90 days after you contact us, and we will correct any error promptly. We will tell you the results within three business days after completing our investigation. If we decide that there was no error, we will send you a written explanation. You may ask for copies of any documents we used in our investigation. 11. Internet Banking/ YONO US Portal: a. Internet Services This section of the Manual describes your use of the Bank’s Online Internet-based Banking Service (“Internet Banking”). By using the new Internet Banking, you may:  Open an account (Currently, this facility is not available)  Obtain account balance and other banking information  Transfer funds between own accounts  Transfer funds to other Banks within USA through Wire Transfers*  Transfer INR to India*  Transfer USD to any Bank outside USA too*  Send secure messages to the Bank  Order new checks / Stop Checks*  Uploading documents as attachment through Secure Message Platform  Pull fund from own accounts with other U.S. banks *Charges may apply b. Internet Banking Terms of Service You may enroll in our new Internet Banking at our website at https://sbinewyork.statebank/online- banking . Once you enroll on the new portal, you will have access to your account information for viewing purposes only. In order to obtain transaction rights in online banking mode, you must apply for Transaction Rights under “Requests/Services” Tab. The request shall be approved by the Bank upon receipt. During the enrollment process you will be presented with a copy of the Bank’s Online Banking Terms of Service. The Online Banking Terms of Service governs your use of the SBI Online Banking Services. Use of Internet Banking is expressly conditioned on your acceptance of these Online Banking Terms of Service. By using the Internet Banking, you acknowledge that you have read and agree to abide by the terms and conditions of these Online Banking Terms of Service. If you
State Bank of India New York Customer Manual for Deposits 40 from time to time. Our decision to approve your request to use the Service is within our sole discretion. Your rights in using the Service are governed by the terms set forth in this Manual and by any receipt or disclosures you receive at the time that you arrange for a remittance transfer. f. Fees. You will be assessed fees and other charges associated with the Service as detailed in the “Schedule of Fees & Charges” in this Manual. We reserve the right to change from time to time our fees and other charges. Our fees and charges will also be disclosed in the documentation you receive at the time that you arrange for a remittance transfer. g. Cancellation, Amendment and Termination. We may suspend or cancel the Service in our sole discretion. We may also limit or restrict your use of the Service, as provided below, in our sole discretion. If you wish to cancel a remittance more than 30 minutes after you have paid us, we will endeavor to do so if possible. Likewise, if you wish to amend an instruction that you have given us more than 30 minutes after you have paid us, we will endeavor to do so if possible. You may be charged a fee for such cancellations or amendments. h. Instructions. It is your responsibility to ensure that we are provided with accurate, clear, and correct instructions regarding your remittances. In case the remitter provides incorrect beneficiary account details or the remittance is returned by beneficiary bank for any reason, the remittance may be recalled by the branch and the amount so recalled would be converted at prevalent (INR-USD) purchase rate. We may refuse to accept instructions from anyone other than you in our sole discretion. We may also refuse to execute any remittance requests which are incomplete. You will strictly adhere to the security procedures applicable from time to time to the Service. Bank reserves the right to ask for any additional documents before/after processing the remittance. For remittances to NGOs/charitable purpose, the customer will have to provide the copy of updated FCRA (Foreign Contribution Regulation Act) certificate. The Bank reserves the right to not process the remittance if the FCRA (Foreign Contribution Regulation Act) number is not valid based on confirmation from Ministry of Home Affairs website of Government of India. All the remittance requests received at the SBI New York are subject to approval of our internal Compliance department. We may seek any additional information regarding the remittance like purpose of transactions, specific details about beneficiary etc. before executing the remittance. We may refuse to execute the remittance if the additional information sought is not provided by the remitter. If the beneficiary’s account number that you provide does not correspond to the name of the beneficiary that you provide, we will not be liable for losses resulting from the beneficiary’s financial institution paying the wrong person or does not accept the wire or places the funds in a suspense account pending clarification. We will not be liable to you or any other person for any losses resulting from the beneficiary’s financial institution accepting and posting any wire transfer to an incorrect account. We will also not be liable to you or the beneficiary of the wire or any other person for any fees that may be deducted by the beneficiary’s financial institution. We will not be liable for losses resulting from your failure to properly identify the financial institution where the beneficiary maintains an account.
State Bank of India New York Customer Manual for Deposits 42 otherwise incur on account of our provision of the Service to you and caused by your breach of our agreement or by your negligence, misconduct or other wrongful or illegal use of the Service. k. Privacy and Sharing and Use of Information. The information we obtain from you in connection with the Service may be confidential. We will maintain the confidentiality of such information in accordance with our normal procedures for safeguarding information regarding our customers and our Privacy Policy found elsewhere in this Manual. l. Special Rights Regarding “Remittance Transfers.” The Consumer Financial Protection Bureau’s Regulation E governs certain outgoing electronic international transactions initiated by consumers that are defined as “remittance transfers.” Included within the definition of a remittance transfer are wire transfers of funds from any of your consumer deposit or Money Market Deposit Accounts to third parties who are located, or whose accounts are located, in foreign countries. This means that when you request a remittance transfer: (1) You will receive specific disclosures about the details of the requested transfer before we will complete the transfer. (2) You have certain cancellation and refund rights in connection with the transfer if you change your mind within 30 minutes after making payment and the funds have not already been picked up or deposited into the recipient’s account. These rights are briefly summarized below. (3) You have certain rights if you suspect an error or problem with a remittance transfer. These rights are briefly summarized below. (4) We will send you a notice that we debited your account and you paid for the transfer. (5) Certain provisions of this Manual, which limit our liability to you or make you responsible for losses in various circumstances, do not apply and our or your liability or responsibility is instead governed by the Regulation E remittance transfer rules. Among other things, those rules provide that if you give us the incorrect account number or recipient institution identifier, you could lose the transfer amount. (6) There may also be other provisions of this Manual, that are inconsistent with certain rights or responsibilities of you or us under the Regulation E remittance transfer rules. In the event of any such inconsistency, Regulation E will control and this Manual, will be deemed modified so as to be consistent with the remittance transfer rules, without affecting the validity of any other provisions of the Manual. What to do if you want to cancel a remittance transfer: You have the right to cancel a remittance transfer and obtain a refund of all funds paid to us, including any fees. To cancel, you must contact us: by telephone at (212)-521-3234; by email at cancelremit.nyb@statebank.com or in person at the Bank within 30 minutes of making payment for the transfer. If you have initiated the remittance through new “YONO US Portal”, you can use the Cancellation facility within 30 minutes of creation of transaction to self-cancel the transfer. When you contact us, you must provide us with information to help us identify the transfer you wish to cancel, including your name, address and telephone number, the amount and location where the funds were to be sent and any identification number we have provided for you in connection with the transfer. We will refund your money within three business days of your request to cancel a transfer, as long as the funds have not already been picked up or deposited into the recipient’s
State Bank of India New York Customer Manual for Deposits 44 decide not to agree to the terms and conditions discussed therein, you may not use Internet Banking. The Online Banking Terms of Service govern Internet Banking and supersede any inconsistent agreements or requirements. However, the terms of this Manual will govern and supersede any inconsistent statements contained in the Online Banking Terms of Service with regard to the (i) types of accounts that you may have with the Bank and the terms of those accounts; (ii) Bank’s rules governing wire transfers or international remittances including our liability to you and how we will inform you about the costs and fees and exchange rates for remittances and your ability to stop the remittance; (iii) Bank’s privacy and sharing of information policies and (iv) governing law of our agreement. Note: The customer is required to give full name (no initials) while creating recipient for the purpose of sending remittances. Thank You IMPORTANT If there is a conflict between the information stated in any Bank agreement or brochure/Manual (including this one) and something said by one of our employees, the written information will be used to resolve the conflict. The Bank may refuse to follow any instructions it believes is not permitted under law or regulation. The Manual is governed by and shall be interpreted under the laws of the State of New York. Any litigation shall be filed and heard only in the federal or state courts located in New York. State Bank of India reserves the right to change the Manual as required by law or Bank policy. Such changes may be displayed on the notice board in the Bank, posted on the website (https://sbinewyork.statebank) or advised to customers by mail. If you have any questions regarding the information provided in the Manual or your account relationship, you may contact us by mail by writing to the following address: State Bank of India DRS Department 460 Park Avenue New York Branch, NY 10022 U.S.A. Tel : General: (212)521-3200
State Bank of India New York Customer Manual for Deposits 20 If you apply for a duplicate official check or a refund within 180 days of the date of the check, the Bank would require you and the payee to jointly sign an affidavit of loss and indemnity, referred to as Indemnity Agreement. You may also be required to submit a Surety Bond for twice the amount of the instrument or to place sufficient funds as security with us. After 180 days, an affidavit of loss and indemnity alone may suffice. A fee (see “Schedule of Fees & Charges”) will be charged for each stop payment request. i. Your Records: Your cancelled check(s) or substitute check(s), copies of special withdrawal form(s) and acknowledgment(s) on deposit slip(s) are your records. Paid and cancelled checks or substitute checks will be mailed with the statement of accounts to U.S. based customers. The cancelled checks or substitute checks for non-U.S. based accounts will normally be retained by the Bank. j. Statement of Account: Both Checking and Money Market Deposit Accounts are statement accounts. For all active statement accounts (that is, accounts which are not inactive or dormant as explained in Section 5.2) at least once in a calendar month, we will send a statement showing all account activities during the previous statement period. This statement will indicate your balance on the statement date and will give you an itemized, date-wise listing of all credits, all paid checks/ transfers, transactions put through using the linked debit card, interest earned, and any maintenance and service charges levied. It will also indicate the annual percentage yield earned (APYE) in effect during the period, if the account is interest bearing. All statements will be mailed to the last address known to the Bank by regular mail. For additional statements and other modes of sending statements, charges will be extra. No periodic account statements will be sent on CD accounts. Statements of Account are not available online, however, you may view the transactions online through internet banking.
State Bank of India New York Customer Manual for Deposits 41 We may send the wire through such correspondents as appear appropriate to us in our sole discretion and we shall not be liable for their neglect or negligence. We are not under any obligation to detect errors or inconsistencies in any of your instructions. We will not be liable for any losses caused by errors or inaccuracies in your instructions. We will have the right, in our sole discretion, to reject any instructions, to set exposure limits on the amounts you may wire and impose additional conditions that must be satisfied before we will accept any instructions. i. Limits on Remittances. You will provide a statement of the purpose of the remittance. You may not transfer more than our specified maximum dollar limit in any single day. We may change any of the foregoing limits in our discretion at any time. Remittances may not be sent by us through or into any country in violation of U.S. laws. We will charge to and debit from the account identified in the instruction the amount of money specified in the instruction to be paid to the beneficiary designated therein and all fees and any costs and expenses. You must verify, prior to issuing an instruction for us to initiate a remittance, that funds are available in your account for us to initiate the remittance. If there are insufficient funds, we may, in our sole discretion: (i) execute the transaction, in which event, immediately upon our demand, you will pay to us all amounts sent and all fees and costs and expenses associated with the transfer; (ii) delay the remittance; or (iii) cancel the instruction and not complete the remittance. We will not have any liability to you or any other person for losses incurred by you or any other person when a remittance is not completed because there are not sufficient funds available. j. Limits on Liability and Indemnification. EXCEPT AS PROVIDED IN EXPRESS TERMS TO THE CONTRARY IN THIS MANUAL, THE SERVICE IS PROVIDED ON AN “AS IS”, “AS AVAILABLE” BASIS. WE MAKE NO WARRANTY, EXPRESS OR IMPLIED, TO YOU OR ANY OTHER PERSON REGARDING THE SERVICE, INCLUDING ANY WARRANTY OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE OR NONINFRINGEMENT. Subject to the limitations on our liability set forth in this Agreement, we will have liability to you for any losses you suffer or incur as a direct result of a material breach of this Agreement by us or as a direct result of our gross negligence or intentional misconduct in performing or failing to perform the Service. Our liability will be limited, however, as follows: (i) for delays in payment, our total liability to you or any person, including the beneficiary, will be limited to payment of interest for the period of delay; (ii) for non-completion of the instructions, our total liability to any person, including you, will be limited to reimbursement to such person of his or her actual out-of-pocket expenses in the funds transfer, and any actual out-of-pocket incidental expenses and interest losses; and (iii) for any other cause, the aggregate amount of the fees and charges paid by you to us for the Service during the prior 6 months. We will not be liable to you or any other person for, and you release us from liability with respect to (i) any indirect, consequential, special, incidental, exemplary or punitive damages, including loss of profits, loss of business or loss of data; or (ii) attorneys’ fees or fees of other professionals. You will fully indemnify us and hold us harmless, from and against all losses we may suffer or
State Bank of India New York Customer Manual for Deposits 22 The Bank also reserves the right to close your accounts without any prior notice for any reason in the Bank’s sole discretion. The Bank will mail you a check for the balance in the accounts. The Bank may give you notice before taking this step, although we are not obliged to do so. We also reserve the right to close your account if your account has a NIL balance for more than three (3) months. Payment of interest on your account (if your account is interest-bearing) will cease from the date of closure of the account. Checking and Money Market Deposit Accounts cannot be negotiated or transferred to another individual or corporation or entity. o. Bank’s Liability: If the Bank does not complete a transfer to or from your account in time or for the correct amount as per your agreement with us, we will be liable for your direct losses or damages but not any indirect costs or punitive costs or damages. However, the Bank will not be liable in circumstances such as:  The funds in your account are not sufficient to affect the transfer  The automated teller machine where you were making the transfer has a communication failure.  The automated teller machine did not have enough cash  If circumstances beyond our control prevent the transfer.  If we are unable to confirm the transaction with you (if required)  Any other exceptions stated in our agreement with you.

Test Case

Question: What is the minimum balance service charge for a Checking Account if the balance falls below the required minimum during any day of a calendar month?

Metric Baseline Score Current Score
answer_accuracy 0.86879335 0.86788463 (-0.00090872)
groundedness 0.96802378 0.97203118 (+0.00400740)
mean_answer_similarity 0.88185486 0.87835127 (-0.00350359)
mean_reciprocal_rank 1.00000000 1.00000000
min_answer_similarity 0.86879335 0.86788463 (-0.00090872)
model_failures 1.00000000 1.00000000
model_generation_failures 1.00000000 1.00000000
model_parse_failures 0.00000000 0.00000000
model_passes 0.00000000 0.00000000
model_retrieval_failures 0.00000000 0.00000000
precision_relevancy 0.88547973 0.88695708 (+0.00147735)
recall_relevancy 0.93325431 0.93325431
rouge_1 0.16551724 0.16666667 (+0.00114943)
rouge_2 0.12587413 0.12676056 (+0.00088644)
rouge_l 0.16551724 0.16666667 (+0.00114943)

Legend:

  • Metric : The evaluation metric name. Shown in bold red if the metric flipped between pass/fail status.
  • Baseline Score : The metric value for the baseline model. Shown in bold green if baseline won, red if lost.
  • Current Score : The metric value for the current model, followed by the delta from baseline in parentheses.
  • Delta Colors : Green = improvement, Orange = regression, Red = metric flipped to fail.
  • Winner Determination : For each metric, the winner is determined by comparing scores while considering the metric's directionality (higher is better vs. lower is better).
Baseline Result Current Result
Model claude-3-7-sonnet-20250219@h2ogpte claude-3-7-sonnet-20250219@h2ogpte
Question What is the minimum balance service charge for a Checking Account if the balance falls below the required minimum during any day of a calendar month?
Expected answer The minimum balance service charge is listed in the Schedule of Fees & Charges.
Actual Answer According to the document, the minimum balance service charge for a Checking Account if the balance falls below the required minimum during any day of a calendar month varies based on the type of account: For US Resident accounts: - Consumer accounts: $15 (effective 01/01/2020) - Business/Associations accounts: $50 For Non-US Resident accounts: - Consumer accounts: $20 (effective 01/01/2020) - Business/Associations accounts: $50 This information is found on page 45 of the document in the "SCHEDULE OF FEES & CHARGES Minimum Balance Requirements & Service Charges" section. The document also mentions on page 10 that if the balance is less than the amount required to be deducted as a service charge, the available balance will be treated as service charges and the account may be closed with notice to the customer. According to the document, the minimum balance service charge for a Checking Account if the balance falls below the required minimum during any day of a calendar month varies based on the type of account: For Consumer Accounts (accounts of natural persons): - US Resident: $15 (effective 01/01/2020) - Non-US Resident: $20 (effective 01/01/2020) For Business/Associations Accounts: - US Resident: $50 - Non-US Resident: $50 This information is found in the "SCHEDULE OF FEES & CHARGES Minimum Balance Requirements & Service Charges" section on page 45 of the document. The document also notes that if the balance is less than the amount required to be deducted as a service charge, the available balance will be treated as service charges and the account may be closed with notice to the customer.
Retrieved Context
State Bank of India New York Customer Manual for Deposits 45 B. Service Fees & Charges Consumer Accounts Accounts of Business/ Associations Excess Transaction charges – Each transaction in Money Market Accounts in excess of 6 transfers or withdrawals or a combination of these in a statement period. $5 $5 Checks returned or paid against insufficient or unavailable funds # $10 $15 SCHEDULE OF FEES & CHARGES Minimum Balance Requirements & Service Charges Checking Account Money Market Account Consumer A/C Business/Associations Consumer A/c Business/Associations USA Resident Minimum daily balance 1,000 $ 20,000 $2,500 $ 50,000 Monthly service charge (if the balance falls below minimum on any day of the month) $15* (effective 01/01/2020) $ 50 $20* (effective 01/01/2020) $ 50 Non-USA Resident Minimum daily balance Opened at the sole discretion of the Bank and as per its Policy. Minimum balance is $10,000 Opened at the sole discretion of the Bank and as per its Policy. Minimum balance is $ 50,000 Opened at the sole discretion of the Bank and as per its Policy. Minimum balance is $ 25,000 Opened at the sole discretion of the Bank and as per its Policy. Minimum balance is $ 100,000 Monthly service charge (if the balance falls below minimum on any day of the month) $20* (effective 01/01/2020) $50 $25* (effective 01/01/2020) $50 Note : Consumer accounts = Accounts of natural persons
State Bank of India New York Customer Manual for Deposits 11 age or older. For every additional withdrawal or check beyond above mentioned number in a statement cycle, $5 will be recovered e. Restriction on the number of credits/deposits: No restriction. f. Availability of account statement and frequency of monthly statement: Account statements at monthly intervals will be provided. 4.2 Money Market Deposit (MMD) Account This is an interest-bearing account from which withdrawals can be made in accordance with certain prescribed restrictions. Tiered interest rate is available on money market accounts based on the balances available in the account. The minimum deposit required for opening an account is the minimum daily balance requirement for the account which is tabled below. The daily minimum balances required to be maintained to avoid monthly service charges are as follows: Consumer Account Business/ Associations US Resident Customer $2,500 $50,000 Non-US Resident Customer $25,000 $ 100,000 A minimum balance service charge as listed in our “Schedule of Fees & Charges” in this Manual will be imposed every month if the balance in the account falls below the required minimum during any day of a calendar month. If the balance is less than the amount required to be deducted as service charge, the so available balance will be treated as service charges and the account may be closed forthwith, with notice to the customer at the last available address in our records. No overdraft is permitted under any circumstances in this account. Any check presented with insufficient funds will be dishonored. Service charges are listed in our “Schedule of Fees & Charges” in this Manual. A Money Market Deposit Account for Non-US Resident consumer or business/association would be opened at the sole discretion of the Bank and as per its policy, either on the same terms and conditions as for U.S- resident customers or on mutually agreed terms and conditions. Monthly service charges are listed in our “Schedule of Fees & Charges” in this Manual. Early closure fees will apply if you close your account within three months of opening. Other Features of Money Market Deposit Accounts a. Interest Rate: Tiered interest rate is available on MMD accounts based on the balances available in account. Interest rate on these accounts may vary from time to time. The Bank reserves the right to change the rate at any time. There is no limitation as to the percentage amount the interest rate may vary. You may visit our website https://sbinewyork.statebank or call (212) 521-3200 for information on the current rate of interest. b. Payment of Interest: Interest will accrue on your day-end balance. Interest earned during the month will be credited to the account at the close of business on the last business day of the month and will be made available to you on the first business day of the following month. There is no minimum balance required to earn the stated annual percentage yield. For non-cash deposits made into your account (for example checks) interest begins to accrue no later than the business day we receive credit for the deposit of the non-cash items. If the account is closed during the middle of a
State Bank of India New York Customer Manual for Deposits 10 Consumer Account Business/ Associations US Resident $1,000 $20,000 Non- US Resident $10,000 $50,000 A minimum balance service charge as listed in our “Schedule of Fees & Charges” in this Manual will be imposed every month if the balance in the account falls below the required minimum during any day of a calendar month. If the balance is less than the amount required to be deducted as a service charge, the available balance will be treated as service charges and the account may be closed forthwith, with notice to the customer at the last available address in our records. A checking account for a Non US resident consumer or business/association will be opened at the sole discretion of the Bank and as per its policy, either on the same terms and conditions as for U.S.-resident customers or on separate terms and conditions. No overdraft is permitted under any circumstances in this account. Any check presented with insufficient funds will be dishonored. Service charges are listed in our “Schedule of Fees & Charges” in this Manual. Early closure fees will apply if you close your account within three months of opening. The Bank will provide a statement of account at monthly intervals. 4.1.1 Basic Checking Account In order to provide low cost banking services, we offer “basic banking” checking accounts to all consumers who fulfill the following requirements: • Residents of New York State. • The consumer is required to close all other transaction accounts with our Bank or any other banking institution and will be given a period of 60 days (from the date the basic banking account is opened) to do so. If other transaction account/s is/are not closed within 60 days, the said basic checking account shall be closed by the Bank. • Receive direct credit of a recurring payment such as Social Security, wages or pension payments. • Have limited monthly transactions. • Desire basic checking services. Salient Features of Basic Checking Accounts a. Minimum deposit to open the account: $25. b. Minimum monthly balance required to be maintained: No minimum balance. c. Monthly maintenance fee: i) Nil, if the daily balance is $500 or more. ii) Otherwise $3 per month.
c. Deposits: You can make deposits: • By check in person, during regular banking hours at the teller counter at the Bank. (Our regular banking hours are 9 AM - 4 PM ET Monday through Friday. Cash services are available only up to 3 PM ET) • By check in mail • By wire transfer • By pre-authorized credit such as for Social Security benefits • By cash in person, at our discretion Cash deposits may be subject to the Bank Secrecy Act reporting provisions. You may be asked to show a valid state id for cash deposit. There are no restrictions on the number of deposits in both Checking and Money Market Deposit Accounts. Funds will be made available in Checking Accounts as described in section 8 “Funds Availability.” The Bank maintains the right, for any reason or for no reason, to refuse to accept a deposit, or return in full or in part any deposit. Note - Check received in mail on any given day will be processed only on next business day. d. The Bank as Collecting Agent: The Bank accepts items for deposit or collection, as your collecting agent, subject to the following conditions:  All items will be credited subject to actual payment.  If payment is not received and the instrument is returned unpaid, the Bank shall have the right to charge back the item to your account. A service charge will also be levied for checks returned unpaid.
e. Withdrawals: When writing checks on your Checking or Money Market Deposit Account, please ensure that:  The amount is stated in US dollars;  The amount is within the available balance in your account. The available balance in your account may be affected because of other transactions, including debit card transactions. Checks which exceed the available balance in your account may be returned unpaid and are subject to a charge as indicated in “Schedule of Fees & Charges”. The Bank reserves the right to pay a stale check, i.e., a check more than 6 months old. A request for a withdrawal or transfer may not be honored in circumstances such as, but not limited to, these:  If the Bank has instructions to the contrary from a joint account holder. In such cases the signatures of all account holders would be required on any authorization.  If a court order/legal process prohibits the Bank from doing so.  If the Bank suspects fraud or violation, including money laundering.  If there is a dispute to the Bank’s knowledge.  If the account is pledged as collateral and has been set-off against overdue debts.  If the account is seized by State /Federal agency.  If the payee is not properly identified to us.  If the withdrawal/transfer exceeds the permissible number (e.g., more than 6 checks per statement period in Money Market Deposit Accounts).
3.5 Limited Liability Company (“LLC”) The following documents are required:  The LLC’s organizational documents (Articles of Organization and Operating Agreement)  The names of all the members and managers of the LLC shall be provided with all the same identification as required for corporations above.  A certified copy of a resolution of the Managers of the LLC providing all the same information required in the corporate resolution set forth above.  Certificate of Beneficial owners, wherever applicable. 4. TYPES OF ACCOUNTS Three types of deposit accounts may be opened:  Checking Account  Money Market Deposit (MMD) Account  Certificate of Deposit (CD) Account 4.1 Checking Account This is a non-interest bearing account with no restrictions on the number of withdrawals or credits. However, Bank has the discretion to pay interest on a product variant. The minimum deposit required for opening an account is the minimum daily balance requirement for the account which is tabled below. The daily minimum balance required to be maintained to avoid monthly service charges are as follows:
State Bank of India New York Customer Manual for Deposits 21 l. Charges: We reserve the right to charge your account in accordance with the “Schedule of Fees & Charges” in circumstances such as, but not limited to, the following: • If a check deposited by you has been returned unpaid. • If there are insufficient funds in your account to cover a check you have issued. • If you use a service that involves a fee or a charge, e.g., issue of official checks or recovery of charges by a bank through which a wire transfer has been sent. • If there is a monthly service charge due to non-maintenance of minimum balance. • If we are required to comply with any legal process in connection with your account. • If you desire stop payment of a check. • If a postdated check written by you has been returned unpaid. • If we confirm the balance in your account to a third party under your authorization. • If you desire us to furnish credit information related to your account. • If you desire copies of your records. • If you give us a standing instruction. The Bank will not be responsible if it refuses to pay a check you have issued if there are not enough funds in the account after we have deducted a service charge.
State Bank of India New York Customer Manual for Deposits 12 month, accrued interest will be credited and paid. Accrued interest will be credited to your account prior to closing the same. c. Compounding Method: Your Money Market Deposit Account earn simple interest on a 360 days’ basis which accrues daily based on the end-of-the-day balance. The daily balance method will be used to calculate the interest on the account. This method applies a daily periodic rate to the principal in the account each day. Although interest accrues daily, you may not withdraw the earnings until the first business day of the following calendar month, when the same is credited into the account, provided the account is not closed. If not withdrawn, interest is added to and becomes part of the account balance. Since interest is added to your total account balance, any credited interest in the account is, effectively, compounded monthly. d. Annual Percentage Yield: The annual percentage yield earned (APYE) for the statement period will be advised with each monthly statement account. e. Withdrawals: A maximum of 6 transfers or withdrawals, or a combination of such transfers or withdrawals, are permitted during a calendar month or statement cycle of at least four weeks. For the purpose of this limit, preauthorized, automatic transfers (including but not limited to transfer from savings deposit for overdraft protection or for direct bill payments) and transfers and withdrawals initiated by telephone, facsimile, or computer and transfers made by check, debit card or other similar order made by the depositor and payable to third parties is included.
m. Change of Address, e-mail address, telephone number and account details: Please update us promptly of any change of address, e-mail address, telephone number or account details and include a complete list of all your accounts and account numbers. Please use Customer Information Update Form (CIP Form) available on our website for update of any information and submit the same along with copy of valid Photo ID and Address proof. Bank reserves the right to ask for additional documents on a case to case basis. If you do not inform us of the changes, mailing of account statements may be withheld and the accounts may be blocked for further transactions until we hear from you. Bank may ask you to update your account information through remediation form as and when there is any material change, or whenever bank requires. If this information is not provided within a reasonable time (30 days), the Bank may decide to decline further transactions in the account and may also close the account if not received the same in subsequent 60 days. For proof of the new address, a utility bill, State issued ID with current address, or Letter issued by Government Authority to the current address to give effect to your change of address request may be provided. All requests for Change of Address, e-mail address, telephone number and account details should be submitted along with a copy of valid ID document. Bank may also call you on your registered number for confirming the details given on the request. If your signed request for email/phone number change is received through modes other than online banking and over the counter, there will be a 30 day debit restriction on your account. n. Closing an Account: You may close your Checking /Money Market Deposit Account at any time provided the funds on deposit are not held against uncollected deposited checks or attached by any legal action. A service charge would apply to Checking/Money Market Deposit Accounts closed within three months of opening. If a hold is placed on your account because of a pre-approved merchant transaction done using your debit card, the Bank may not close the account until the transaction is completed or the hold is removed.
State Bank of India New York Customer Manual for Deposits 20 If you apply for a duplicate official check or a refund within 180 days of the date of the check, the Bank would require you and the payee to jointly sign an affidavit of loss and indemnity, referred to as Indemnity Agreement. You may also be required to submit a Surety Bond for twice the amount of the instrument or to place sufficient funds as security with us. After 180 days, an affidavit of loss and indemnity alone may suffice. A fee (see “Schedule of Fees & Charges”) will be charged for each stop payment request. i. Your Records: Your cancelled check(s) or substitute check(s), copies of special withdrawal form(s) and acknowledgment(s) on deposit slip(s) are your records. Paid and cancelled checks or substitute checks will be mailed with the statement of accounts to U.S. based customers. The cancelled checks or substitute checks for non-U.S. based accounts will normally be retained by the Bank. j. Statement of Account: Both Checking and Money Market Deposit Accounts are statement accounts. For all active statement accounts (that is, accounts which are not inactive or dormant as explained in Section 5.2) at least once in a calendar month, we will send a statement showing all account activities during the previous statement period. This statement will indicate your balance on the statement date and will give you an itemized, date-wise listing of all credits, all paid checks/ transfers, transactions put through using the linked debit card, interest earned, and any maintenance and service charges levied. It will also indicate the annual percentage yield earned (APYE) in effect during the period, if the account is interest bearing. All statements will be mailed to the last address known to the Bank by regular mail. For additional statements and other modes of sending statements, charges will be extra. No periodic account statements will be sent on CD accounts. Statements of Account are not available online, however, you may view the transactions online through internet banking.
State Bank of India New York Customer Manual for Deposits 45 B. Service Fees & Charges Consumer Accounts Accounts of Business/ Associations Excess Transaction charges – Each transaction in Money Market Accounts in excess of 6 transfers or withdrawals or a combination of these in a statement period. $5 $5 Checks returned or paid against insufficient or unavailable funds # $10 $15 SCHEDULE OF FEES & CHARGES Minimum Balance Requirements & Service Charges Checking Account Money Market Account Consumer A/C Business/Associations Consumer A/c Business/Associations USA Resident Minimum daily balance 1,000 $ 20,000 $2,500 $ 50,000 Monthly service charge (if the balance falls below minimum on any day of the month) $15* (effective 01/01/2020) $ 50 $20* (effective 01/01/2020) $ 50 Non-USA Resident Minimum daily balance Opened at the sole discretion of the Bank and as per its Policy. Minimum balance is $10,000 Opened at the sole discretion of the Bank and as per its Policy. Minimum balance is $ 50,000 Opened at the sole discretion of the Bank and as per its Policy. Minimum balance is $ 25,000 Opened at the sole discretion of the Bank and as per its Policy. Minimum balance is $ 100,000 Monthly service charge (if the balance falls below minimum on any day of the month) $20* (effective 01/01/2020) $50 $25* (effective 01/01/2020) $50 Note : Consumer accounts = Accounts of natural persons
State Bank of India New York Customer Manual for Deposits 10 Consumer Account Business/ Associations US Resident $1,000 $20,000 Non- US Resident $10,000 $50,000 A minimum balance service charge as listed in our “Schedule of Fees & Charges” in this Manual will be imposed every month if the balance in the account falls below the required minimum during any day of a calendar month. If the balance is less than the amount required to be deducted as a service charge, the available balance will be treated as service charges and the account may be closed forthwith, with notice to the customer at the last available address in our records. A checking account for a Non US resident consumer or business/association will be opened at the sole discretion of the Bank and as per its policy, either on the same terms and conditions as for U.S.-resident customers or on separate terms and conditions. No overdraft is permitted under any circumstances in this account. Any check presented with insufficient funds will be dishonored. Service charges are listed in our “Schedule of Fees & Charges” in this Manual. Early closure fees will apply if you close your account within three months of opening. The Bank will provide a statement of account at monthly intervals. 4.1.1 Basic Checking Account In order to provide low cost banking services, we offer “basic banking” checking accounts to all consumers who fulfill the following requirements: • Residents of New York State. • The consumer is required to close all other transaction accounts with our Bank or any other banking institution and will be given a period of 60 days (from the date the basic banking account is opened) to do so. If other transaction account/s is/are not closed within 60 days, the said basic checking account shall be closed by the Bank. • Receive direct credit of a recurring payment such as Social Security, wages or pension payments. • Have limited monthly transactions. • Desire basic checking services. Salient Features of Basic Checking Accounts a. Minimum deposit to open the account: $25. b. Minimum monthly balance required to be maintained: No minimum balance. c. Monthly maintenance fee: i) Nil, if the daily balance is $500 or more. ii) Otherwise $3 per month.
State Bank of India New York Customer Manual for Deposits 11 age or older. For every additional withdrawal or check beyond above mentioned number in a statement cycle, $5 will be recovered e. Restriction on the number of credits/deposits: No restriction. f. Availability of account statement and frequency of monthly statement: Account statements at monthly intervals will be provided. 4.2 Money Market Deposit (MMD) Account This is an interest-bearing account from which withdrawals can be made in accordance with certain prescribed restrictions. Tiered interest rate is available on money market accounts based on the balances available in the account. The minimum deposit required for opening an account is the minimum daily balance requirement for the account which is tabled below. The daily minimum balances required to be maintained to avoid monthly service charges are as follows: Consumer Account Business/ Associations US Resident Customer $2,500 $50,000 Non-US Resident Customer $25,000 $ 100,000 A minimum balance service charge as listed in our “Schedule of Fees & Charges” in this Manual will be imposed every month if the balance in the account falls below the required minimum during any day of a calendar month. If the balance is less than the amount required to be deducted as service charge, the so available balance will be treated as service charges and the account may be closed forthwith, with notice to the customer at the last available address in our records. No overdraft is permitted under any circumstances in this account. Any check presented with insufficient funds will be dishonored. Service charges are listed in our “Schedule of Fees & Charges” in this Manual. A Money Market Deposit Account for Non-US Resident consumer or business/association would be opened at the sole discretion of the Bank and as per its policy, either on the same terms and conditions as for U.S- resident customers or on mutually agreed terms and conditions. Monthly service charges are listed in our “Schedule of Fees & Charges” in this Manual. Early closure fees will apply if you close your account within three months of opening. Other Features of Money Market Deposit Accounts a. Interest Rate: Tiered interest rate is available on MMD accounts based on the balances available in account. Interest rate on these accounts may vary from time to time. The Bank reserves the right to change the rate at any time. There is no limitation as to the percentage amount the interest rate may vary. You may visit our website https://sbinewyork.statebank or call (212) 521-3200 for information on the current rate of interest. b. Payment of Interest: Interest will accrue on your day-end balance. Interest earned during the month will be credited to the account at the close of business on the last business day of the month and will be made available to you on the first business day of the following month. There is no minimum balance required to earn the stated annual percentage yield. For non-cash deposits made into your account (for example checks) interest begins to accrue no later than the business day we receive credit for the deposit of the non-cash items. If the account is closed during the middle of a
3.5 Limited Liability Company (“LLC”) The following documents are required:  The LLC’s organizational documents (Articles of Organization and Operating Agreement)  The names of all the members and managers of the LLC shall be provided with all the same identification as required for corporations above.  A certified copy of a resolution of the Managers of the LLC providing all the same information required in the corporate resolution set forth above.  Certificate of Beneficial owners, wherever applicable. 4. TYPES OF ACCOUNTS Three types of deposit accounts may be opened:  Checking Account  Money Market Deposit (MMD) Account  Certificate of Deposit (CD) Account 4.1 Checking Account This is a non-interest bearing account with no restrictions on the number of withdrawals or credits. However, Bank has the discretion to pay interest on a product variant. The minimum deposit required for opening an account is the minimum daily balance requirement for the account which is tabled below. The daily minimum balance required to be maintained to avoid monthly service charges are as follows:
c. Deposits: You can make deposits: • By check in person, during regular banking hours at the teller counter at the Bank. (Our regular banking hours are 9 AM - 4 PM ET Monday through Friday. Cash services are available only up to 3 PM ET) • By check in mail • By wire transfer • By pre-authorized credit such as for Social Security benefits • By cash in person, at our discretion Cash deposits may be subject to the Bank Secrecy Act reporting provisions. You may be asked to show a valid state id for cash deposit. There are no restrictions on the number of deposits in both Checking and Money Market Deposit Accounts. Funds will be made available in Checking Accounts as described in section 8 “Funds Availability.” The Bank maintains the right, for any reason or for no reason, to refuse to accept a deposit, or return in full or in part any deposit. Note - Check received in mail on any given day will be processed only on next business day. d. The Bank as Collecting Agent: The Bank accepts items for deposit or collection, as your collecting agent, subject to the following conditions:  All items will be credited subject to actual payment.  If payment is not received and the instrument is returned unpaid, the Bank shall have the right to charge back the item to your account. A service charge will also be levied for checks returned unpaid.
e. Withdrawals: When writing checks on your Checking or Money Market Deposit Account, please ensure that:  The amount is stated in US dollars;  The amount is within the available balance in your account. The available balance in your account may be affected because of other transactions, including debit card transactions. Checks which exceed the available balance in your account may be returned unpaid and are subject to a charge as indicated in “Schedule of Fees & Charges”. The Bank reserves the right to pay a stale check, i.e., a check more than 6 months old. A request for a withdrawal or transfer may not be honored in circumstances such as, but not limited to, these:  If the Bank has instructions to the contrary from a joint account holder. In such cases the signatures of all account holders would be required on any authorization.  If a court order/legal process prohibits the Bank from doing so.  If the Bank suspects fraud or violation, including money laundering.  If there is a dispute to the Bank’s knowledge.  If the account is pledged as collateral and has been set-off against overdue debts.  If the account is seized by State /Federal agency.  If the payee is not properly identified to us.  If the withdrawal/transfer exceeds the permissible number (e.g., more than 6 checks per statement period in Money Market Deposit Accounts).
State Bank of India New York Customer Manual for Deposits 21 l. Charges: We reserve the right to charge your account in accordance with the “Schedule of Fees & Charges” in circumstances such as, but not limited to, the following: • If a check deposited by you has been returned unpaid. • If there are insufficient funds in your account to cover a check you have issued. • If you use a service that involves a fee or a charge, e.g., issue of official checks or recovery of charges by a bank through which a wire transfer has been sent. • If there is a monthly service charge due to non-maintenance of minimum balance. • If we are required to comply with any legal process in connection with your account. • If you desire stop payment of a check. • If a postdated check written by you has been returned unpaid. • If we confirm the balance in your account to a third party under your authorization. • If you desire us to furnish credit information related to your account. • If you desire copies of your records. • If you give us a standing instruction. The Bank will not be responsible if it refuses to pay a check you have issued if there are not enough funds in the account after we have deducted a service charge.
m. Change of Address, e-mail address, telephone number and account details: Please update us promptly of any change of address, e-mail address, telephone number or account details and include a complete list of all your accounts and account numbers. Please use Customer Information Update Form (CIP Form) available on our website for update of any information and submit the same along with copy of valid Photo ID and Address proof. Bank reserves the right to ask for additional documents on a case to case basis. If you do not inform us of the changes, mailing of account statements may be withheld and the accounts may be blocked for further transactions until we hear from you. Bank may ask you to update your account information through remediation form as and when there is any material change, or whenever bank requires. If this information is not provided within a reasonable time (30 days), the Bank may decide to decline further transactions in the account and may also close the account if not received the same in subsequent 60 days. For proof of the new address, a utility bill, State issued ID with current address, or Letter issued by Government Authority to the current address to give effect to your change of address request may be provided. All requests for Change of Address, e-mail address, telephone number and account details should be submitted along with a copy of valid ID document. Bank may also call you on your registered number for confirming the details given on the request. If your signed request for email/phone number change is received through modes other than online banking and over the counter, there will be a 30 day debit restriction on your account. n. Closing an Account: You may close your Checking /Money Market Deposit Account at any time provided the funds on deposit are not held against uncollected deposited checks or attached by any legal action. A service charge would apply to Checking/Money Market Deposit Accounts closed within three months of opening. If a hold is placed on your account because of a pre-approved merchant transaction done using your debit card, the Bank may not close the account until the transaction is completed or the hold is removed.
State Bank of India New York Customer Manual for Deposits 36 or disclosed to a third party. The security of the PIN is the Card Holder’s responsibility. e. Funds: The Card Holder will maintain sufficient funds in the Account as necessary to cover any transactions at the time they are initiated. The Card Holder should not use or attempt to use the Card without sufficient funds in the Account. In the event of payment/debit made in excess of the balance available in the Account, Card Holder will be responsible to the Bank for the amount of any transaction completed and will also be responsible to the Bank for the Service Fee disclosed in the Schedule of Fees and Charges. h. Periodic Statements: Periodic Statements of the Account will be sent to the Card Holder as provided in Customer Manual. If you expect to receive any preauthorized transfer to your account, you may call 212-521-3286 to determine whether your transfer has been received. e. Expiration/Renewal: The Card is valid up to the last day of the month/year indicated on the Card. A renewal Card shall be sent by the Bank before the expiry of the Card at the discretion of the Bank. The Bank reserves the sole right to renew the Card account on expiry. The Card Holder is responsible for destroying the expired Card. Unless we are notified in writing otherwise, re-issued cards will be sent to your last known address according to the records of the Bank. f. Transfer types and Limitations: The Card is accepted at all electronic chip enabled Point-of-Sale (POS) terminals at stores and vendors (Merchant Establishments) displaying MasterCard or STAR logos. The Card is accepted at STAR Network ATMs and may be accepted at ATMs operated by other banks or financial institutions. The Card may be used to make purchases at an electronic chip enabled Point-of-Sale terminal, to pay bills directly by telephone, internet, or other means, or to make other such electronic transfers from an account. The Card may be used to withdraw cash from the Account, transfer funds between Accounts, and obtain Account balance information. Card Holder is entitled to receive a receipt of ATM Transactions containing sufficient information to identify the transaction and the terminal used. You cannot deposit cash or checks at ATMs. The Bank will have no liability if you deposit cash or checks at an ATM. g. Daily Use Limits: A Card Holder may use the Card to make purchases up to $2000.00 per day at Merchant Establishments or such other limits as the Bank may establish from time to time. The Bank may lower these limits in case of a technical failure. A Card Holder may withdraw up to $1000.00 per day at ATMs. The Bank reserves the right to lower this limit in case of a technical failure. h. Debit-card clearing: Debit-card Transactions may clear the Account differently than checks and traditional ATM card transactions. Because these transactions clear differently, the Card Holders should take care to keep an accurate register and monitor the Account’s balance for pending transactions and cleared transactions in order to avoid unwanted fees and other items being returned. i. Available balance: Each time the Card Holder uses the Card, a hold is immediately placed on funds in the account, reducing the available balance to pay checks and other debits that are presented to the Bank for payment. j. Holds on the account: Typically, debit-card transaction “holds” are for the amount of the actual
State Bank of India New York Customer Manual for Deposits 12 month, accrued interest will be credited and paid. Accrued interest will be credited to your account prior to closing the same. c. Compounding Method: Your Money Market Deposit Account earn simple interest on a 360 days’ basis which accrues daily based on the end-of-the-day balance. The daily balance method will be used to calculate the interest on the account. This method applies a daily periodic rate to the principal in the account each day. Although interest accrues daily, you may not withdraw the earnings until the first business day of the following calendar month, when the same is credited into the account, provided the account is not closed. If not withdrawn, interest is added to and becomes part of the account balance. Since interest is added to your total account balance, any credited interest in the account is, effectively, compounded monthly. d. Annual Percentage Yield: The annual percentage yield earned (APYE) for the statement period will be advised with each monthly statement account. e. Withdrawals: A maximum of 6 transfers or withdrawals, or a combination of such transfers or withdrawals, are permitted during a calendar month or statement cycle of at least four weeks. For the purpose of this limit, preauthorized, automatic transfers (including but not limited to transfer from savings deposit for overdraft protection or for direct bill payments) and transfers and withdrawals initiated by telephone, facsimile, or computer and transfers made by check, debit card or other similar order made by the depositor and payable to third parties is included.

Test Case

Question: What is the minimum balance required to open a Certificate of Deposit Account for a Non-US Resident?

Metric Baseline Score Current Score
answer_accuracy 0.01620370 0.01502146 (-0.00118224)
groundedness 0.87744496 0.91245617 (+0.03501121)
mean_answer_similarity 0.82533191 0.79043342 (-0.03489849)
mean_reciprocal_rank 1.00000000 1.00000000
min_answer_similarity 0.82265568 0.74119228 (-0.08146340)
model_failures 0.00000000 0.00000000
model_generation_failures 0.00000000 0.00000000
model_parse_failures 0.00000000 0.00000000
model_passes 1.00000000 1.00000000
model_retrieval_failures 0.00000000 0.00000000
precision_relevancy 0.88302969 0.86879852 (-0.01423117)
recall_relevancy 0.92790705 0.90025378 (-0.02765327)
rouge_1 0.05128205 0.04705882 (-0.00422323)
rouge_2 0.02631579 0.02409639 (-0.00221940)
rouge_l 0.05128205 0.04705882 (-0.00422323)

Legend:

  • Metric : The evaluation metric name. Shown in bold red if the metric flipped between pass/fail status.
  • Baseline Score : The metric value for the baseline model. Shown in bold green if baseline won, red if lost.
  • Current Score : The metric value for the current model, followed by the delta from baseline in parentheses.
  • Delta Colors : Green = improvement, Orange = regression, Red = metric flipped to fail.
  • Winner Determination : For each metric, the winner is determined by comparing scores while considering the metric's directionality (higher is better vs. lower is better).
Baseline Result Current Result
Model claude-3-7-sonnet-20250219@h2ogpte claude-3-7-sonnet-20250219@h2ogpte
Question What is the minimum balance required to open a Certificate of Deposit Account for a Non-US Resident?
Expected answer $10,000
Actual Answer According to the document, the minimum balance required to open a Certificate of Deposit Account for a Non-US Resident is $10,000. This information is found on page 14 of the "Customer Manual for Deposits" where it states in a table that for "Consumer accounts" that are "Non-US Resident," the minimum amount required is $10,000. The same minimum amount of $10,000 is also required for "Accounts of Businesses" for Non-US Residents. According to the document, the minimum amount required to open a Certificate of Deposit (CD) account for a Non-US Resident is $10,000. This information is found on page 14 of the "Customer Manual for Deposits" where it states in a table that the minimum balance requirement for a CD is $10,000 for Non-US Resident consumer accounts and $10,000 for accounts of Businesses (Non-US Resident). The document also mentions that there is no maximum limit under the product.
Retrieved Context
f) Non-Resident Aliens and non-US Corporations, who may not have either SSN or TIN, should periodically certify (once in three years) to us their foreign status on the relevant IRS Forms - W-8BEN, W-8ECI, W-8EXP, or other applicable forms, failing which their account/s may be subject to Back up Withholding Tax as applicable. Bank at its discretion may also close the account for non-certification. For more details regarding tax implications, and type/nature of applicable forms to be submitted to the Bank, you are advised to be guided by the official website of IRS https://www.irs.gov/ g) Documents for identification for Consumers: At least two current documents should be submitted, one of which must be one of the primary IDs listed below. At least one of your documents should have your current address. Primary Secondary State Driver’s License with photo Passport State ID Card with photo US Alien Registration Card with photo Pay Stub Bank Statement Utility Bill Income Tax Return W2 Income Statement US VISA Page (in Passport) Birth Certificate Social Security Card Insurance Card Student ID Card Property Tax Bill Letter issued by Government Authority to the current address
State Bank of India New York Customer Manual for Deposits 14 Type US Resident Non-US Resident Consumer accounts $5,000 $10,000 Accounts of Businesses $10,000 $10,000 f. Early Withdrawal Penalty: The principal amount of CD cannot usually be withdrawn before the maturity date, unless the Bank consents to the withdrawal as a special case. We may require that all holders of a joint account authorize a premature withdrawal of the principal from a CD account. Partial withdrawal is not permitted. The penalty for early withdrawals of CD is as follows: Term of Deposit No of Days for which Interest will be recovered 14 days 14 days 1 month to less than 1 year 30 days 1 year to less than 3 years 60 days 3 years to less than 5 years 120 days 5 years & over 180 days The penalty will be calculated at the same interest rate of the deposit. A penalty will not be charged if the premature withdrawal is caused by the death of the depositor or if the depositor is declared legally incompetent. g. Principal Protection: SBI New York Certificate of Deposit comes with “Principal Protection” feature. The penalty for early withdrawal would be limited up to the amount of interest paid / payable and will not result in reduction of the amount originally deposited. h. Renewal: If your CD is for a term of more than 30 days, we will send you a maturity notice not less than 14 days and not more than 30 days prior to the maturity date. No maturity notice will be sent for Certificate of Deposit with term of 30 days or less.
Information about you and your occupation or business activity is required so that we can understand and serve you better. For any type of account, we may need additional documentation either at the time of opening of account and / or at any time while the account is open. The Bank reserves the right to refuse to open an account and the submission of all required documents will not obligate the
3.5 Limited Liability Company (“LLC”) The following documents are required:  The LLC’s organizational documents (Articles of Organization and Operating Agreement)  The names of all the members and managers of the LLC shall be provided with all the same identification as required for corporations above.  A certified copy of a resolution of the Managers of the LLC providing all the same information required in the corporate resolution set forth above.  Certificate of Beneficial owners, wherever applicable. 4. TYPES OF ACCOUNTS Three types of deposit accounts may be opened:  Checking Account  Money Market Deposit (MMD) Account  Certificate of Deposit (CD) Account 4.1 Checking Account This is a non-interest bearing account with no restrictions on the number of withdrawals or credits. However, Bank has the discretion to pay interest on a product variant. The minimum deposit required for opening an account is the minimum daily balance requirement for the account which is tabled below. The daily minimum balance required to be maintained to avoid monthly service charges are as follows:
d. Interest Payment Method: When opening the CD, you may opt to receive the periodic interest payments by any one of the following: • Through ACH/Wire transfer to your designated bank account • By an official check through regular mail • In your Checking or Money Market Deposit Account with us. If you opt to receive compounded interest (cumulative), we will pay you interest along with the principal at the time of maturity of the CD. e. Minimum Balance Requirement: The minimum amount required for each CD may vary for US resident depositors and those based outside the USA. It may also vary for consumer and accounts of businesses. Currently, the following are the minimum balances:
b) Can a beneficiary be non-resident of US? Yes. However, validation of identity will be mandatory for beneficiary/ies at the time of registration as well as claim settlement. The beneficiary will have to provide a valid Government issued ID such as Passport/Pan/Aadhar at the time of designation/claim. c) Can a beneficiary be minor? No. We do not accept minors as beneficiary. d) Is it mandatory for the beneficiary to have SSN/TIN/US ID? It is mandatory for the beneficiary to produce a valid Government issued ID at the time of registration as well as claim settlement. It can be SSN/TIN/US ID in case of US residents and Passport/PAN/Aadhar Card in case of residents of other countries. e) Are contingent beneficiaries permitted? If yes, how many? No. contingent beneficiaries are not permitted. f) Can the customer get a Designation of Beneficiary receipt? Yes. A signed confirmation can be provided upon request. g) Is signed and scanned copy of DOB form acceptable to Bank?
State Bank of India New York Customer Manual for Deposits 45 B. Service Fees & Charges Consumer Accounts Accounts of Business/ Associations Excess Transaction charges – Each transaction in Money Market Accounts in excess of 6 transfers or withdrawals or a combination of these in a statement period. $5 $5 Checks returned or paid against insufficient or unavailable funds # $10 $15 SCHEDULE OF FEES & CHARGES Minimum Balance Requirements & Service Charges Checking Account Money Market Account Consumer A/C Business/Associations Consumer A/c Business/Associations USA Resident Minimum daily balance 1,000 $ 20,000 $2,500 $ 50,000 Monthly service charge (if the balance falls below minimum on any day of the month) $15* (effective 01/01/2020) $ 50 $20* (effective 01/01/2020) $ 50 Non-USA Resident Minimum daily balance Opened at the sole discretion of the Bank and as per its Policy. Minimum balance is $10,000 Opened at the sole discretion of the Bank and as per its Policy. Minimum balance is $ 50,000 Opened at the sole discretion of the Bank and as per its Policy. Minimum balance is $ 25,000 Opened at the sole discretion of the Bank and as per its Policy. Minimum balance is $ 100,000 Monthly service charge (if the balance falls below minimum on any day of the month) $20* (effective 01/01/2020) $50 $25* (effective 01/01/2020) $50 Note : Consumer accounts = Accounts of natural persons
d. Minimum Balance Requirement: The minimum amount required for each CD will be USD 25,000. There is no maximum limit under the product. e. Early Withdrawal Penalty: All premature withdrawals incur a penalty as mentioned below. Partial withdrawal is not permitted.
State Bank of India New York Customer Manual for Deposits 11 age or older. For every additional withdrawal or check beyond above mentioned number in a statement cycle, $5 will be recovered e. Restriction on the number of credits/deposits: No restriction. f. Availability of account statement and frequency of monthly statement: Account statements at monthly intervals will be provided. 4.2 Money Market Deposit (MMD) Account This is an interest-bearing account from which withdrawals can be made in accordance with certain prescribed restrictions. Tiered interest rate is available on money market accounts based on the balances available in the account. The minimum deposit required for opening an account is the minimum daily balance requirement for the account which is tabled below. The daily minimum balances required to be maintained to avoid monthly service charges are as follows: Consumer Account Business/ Associations US Resident Customer $2,500 $50,000 Non-US Resident Customer $25,000 $ 100,000 A minimum balance service charge as listed in our “Schedule of Fees & Charges” in this Manual will be imposed every month if the balance in the account falls below the required minimum during any day of a calendar month. If the balance is less than the amount required to be deducted as service charge, the so available balance will be treated as service charges and the account may be closed forthwith, with notice to the customer at the last available address in our records. No overdraft is permitted under any circumstances in this account. Any check presented with insufficient funds will be dishonored. Service charges are listed in our “Schedule of Fees & Charges” in this Manual. A Money Market Deposit Account for Non-US Resident consumer or business/association would be opened at the sole discretion of the Bank and as per its policy, either on the same terms and conditions as for U.S- resident customers or on mutually agreed terms and conditions. Monthly service charges are listed in our “Schedule of Fees & Charges” in this Manual. Early closure fees will apply if you close your account within three months of opening. Other Features of Money Market Deposit Accounts a. Interest Rate: Tiered interest rate is available on MMD accounts based on the balances available in account. Interest rate on these accounts may vary from time to time. The Bank reserves the right to change the rate at any time. There is no limitation as to the percentage amount the interest rate may vary. You may visit our website https://sbinewyork.statebank or call (212) 521-3200 for information on the current rate of interest. b. Payment of Interest: Interest will accrue on your day-end balance. Interest earned during the month will be credited to the account at the close of business on the last business day of the month and will be made available to you on the first business day of the following month. There is no minimum balance required to earn the stated annual percentage yield. For non-cash deposits made into your account (for example checks) interest begins to accrue no later than the business day we receive credit for the deposit of the non-cash items. If the account is closed during the middle of a
State Bank of India New York Customer Manual for Deposits 10 Consumer Account Business/ Associations US Resident $1,000 $20,000 Non- US Resident $10,000 $50,000 A minimum balance service charge as listed in our “Schedule of Fees & Charges” in this Manual will be imposed every month if the balance in the account falls below the required minimum during any day of a calendar month. If the balance is less than the amount required to be deducted as a service charge, the available balance will be treated as service charges and the account may be closed forthwith, with notice to the customer at the last available address in our records. A checking account for a Non US resident consumer or business/association will be opened at the sole discretion of the Bank and as per its policy, either on the same terms and conditions as for U.S.-resident customers or on separate terms and conditions. No overdraft is permitted under any circumstances in this account. Any check presented with insufficient funds will be dishonored. Service charges are listed in our “Schedule of Fees & Charges” in this Manual. Early closure fees will apply if you close your account within three months of opening. The Bank will provide a statement of account at monthly intervals. 4.1.1 Basic Checking Account In order to provide low cost banking services, we offer “basic banking” checking accounts to all consumers who fulfill the following requirements: • Residents of New York State. • The consumer is required to close all other transaction accounts with our Bank or any other banking institution and will be given a period of 60 days (from the date the basic banking account is opened) to do so. If other transaction account/s is/are not closed within 60 days, the said basic checking account shall be closed by the Bank. • Receive direct credit of a recurring payment such as Social Security, wages or pension payments. • Have limited monthly transactions. • Desire basic checking services. Salient Features of Basic Checking Accounts a. Minimum deposit to open the account: $25. b. Minimum monthly balance required to be maintained: No minimum balance. c. Monthly maintenance fee: i) Nil, if the daily balance is $500 or more. ii) Otherwise $3 per month.
d. Minimum Balance Requirement: The minimum amount required for each CD will be USD 25,000. There is no maximum limit under the product. e. Early Withdrawal Penalty: All premature withdrawals incur a penalty as mentioned below. Partial withdrawal is not permitted.
d. Interest Payment Method: When opening the CD, you may opt to receive the periodic interest payments by any one of the following: • Through ACH/Wire transfer to your designated bank account • By an official check through regular mail • In your Checking or Money Market Deposit Account with us. If you opt to receive compounded interest (cumulative), we will pay you interest along with the principal at the time of maturity of the CD. e. Minimum Balance Requirement: The minimum amount required for each CD may vary for US resident depositors and those based outside the USA. It may also vary for consumer and accounts of businesses. Currently, the following are the minimum balances:
f) Non-Resident Aliens and non-US Corporations, who may not have either SSN or TIN, should periodically certify (once in three years) to us their foreign status on the relevant IRS Forms - W-8BEN, W-8ECI, W-8EXP, or other applicable forms, failing which their account/s may be subject to Back up Withholding Tax as applicable. Bank at its discretion may also close the account for non-certification. For more details regarding tax implications, and type/nature of applicable forms to be submitted to the Bank, you are advised to be guided by the official website of IRS https://www.irs.gov/ g) Documents for identification for Consumers: At least two current documents should be submitted, one of which must be one of the primary IDs listed below. At least one of your documents should have your current address. Primary Secondary State Driver’s License with photo Passport State ID Card with photo US Alien Registration Card with photo Pay Stub Bank Statement Utility Bill Income Tax Return W2 Income Statement US VISA Page (in Passport) Birth Certificate Social Security Card Insurance Card Student ID Card Property Tax Bill Letter issued by Government Authority to the current address
IMPORTANT INFORMATION ABOUT PROCEDURES FOR OPENING A NEW ACCOUNT CIP and Beneficial Owners Notice: To help the government fight the funding of terrorism and money laundering activities, Federal law requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account, and the beneficial owners of legal entity customers. What this means for you: When you open an account, we will ask for your name, address, date of birth, employment details and other information that will allow us to identify you. We may also ask for your driver’s license or other identifying documents. We may also use the services of third party service providers to verify your identity based on information provided by you. Effective May 11, 2018, new rules under the Bank Secrecy Act will aid the government in the fight against crimes to evade financial measures designed to combat terrorism and other national security threats. Each time an account is opened for a covered Legal Entity, we are required to ask you for identifying information (name, address, date of birth, social security number as well as identification documents) for:  Each individual that has beneficial ownership (25% or more); and,  One individual that has significant managerial control, of the Legal Entity.
3.5 Limited Liability Company (“LLC”) The following documents are required:  The LLC’s organizational documents (Articles of Organization and Operating Agreement)  The names of all the members and managers of the LLC shall be provided with all the same identification as required for corporations above.  A certified copy of a resolution of the Managers of the LLC providing all the same information required in the corporate resolution set forth above.  Certificate of Beneficial owners, wherever applicable. 4. TYPES OF ACCOUNTS Three types of deposit accounts may be opened:  Checking Account  Money Market Deposit (MMD) Account  Certificate of Deposit (CD) Account 4.1 Checking Account This is a non-interest bearing account with no restrictions on the number of withdrawals or credits. However, Bank has the discretion to pay interest on a product variant. The minimum deposit required for opening an account is the minimum daily balance requirement for the account which is tabled below. The daily minimum balance required to be maintained to avoid monthly service charges are as follows:
Information about you and your occupation or business activity is required so that we can understand and serve you better. For any type of account, we may need additional documentation either at the time of opening of account and / or at any time while the account is open. The Bank reserves the right to refuse to open an account and the submission of all required documents will not obligate the
b) Can a beneficiary be non-resident of US? Yes. However, validation of identity will be mandatory for beneficiary/ies at the time of registration as well as claim settlement. The beneficiary will have to provide a valid Government issued ID such as Passport/Pan/Aadhar at the time of designation/claim. c) Can a beneficiary be minor? No. We do not accept minors as beneficiary. d) Is it mandatory for the beneficiary to have SSN/TIN/US ID? It is mandatory for the beneficiary to produce a valid Government issued ID at the time of registration as well as claim settlement. It can be SSN/TIN/US ID in case of US residents and Passport/PAN/Aadhar Card in case of residents of other countries. e) Are contingent beneficiaries permitted? If yes, how many? No. contingent beneficiaries are not permitted. f) Can the customer get a Designation of Beneficiary receipt? Yes. A signed confirmation can be provided upon request. g) Is signed and scanned copy of DOB form acceptable to Bank?
State Bank of India New York Customer Manual for Deposits 15 CDs that were automatically renewed have a ten-calendar-day grace period (including the date of maturity). During the grace period, you may withdraw the amount of your deposit without incurring a premature withdrawal penalty. However, no interest will be paid from the date of maturity until the date of such withdrawal. If you choose to renew your deposit, during this grace period of 10 days, from a date later than the date of maturity, no interest will be paid from the date of maturity until the date of such renewal. Please, however, note that written instructions for withdrawal should be received by us within the grace period. The instructions will be accepted through Secured Messaging on Internet Banking Portal/Mail/In person visits to the Bank. CDs that mature on Saturdays, Sundays or Federal holidays will be available for withdrawal on the next business day and interest will be paid until the maturity date. CDs may not be negotiated or transferred to another individual or corporation. 4.3.1 Senior Citizen Certificate of Deposit This is a product variant of certificate of deposit specifically available to customers who are aged 60 years and above. These accounts can be either opened as Single or Joint deposits. In case of joint accounts, the primary account holder should meet the age eligibility criteria. We offer Senior Citizen CD with maturities from 1 year to 5 years. The product is available to US Citizens, Permanent Residents and Resident Aliens. In case of joint accounts, all the customers should be US Citizens, Permanent Residents or Resident aliens.
State Bank of India New York Customer Manual for Deposits 14 Type US Resident Non-US Resident Consumer accounts $5,000 $10,000 Accounts of Businesses $10,000 $10,000 f. Early Withdrawal Penalty: The principal amount of CD cannot usually be withdrawn before the maturity date, unless the Bank consents to the withdrawal as a special case. We may require that all holders of a joint account authorize a premature withdrawal of the principal from a CD account. Partial withdrawal is not permitted. The penalty for early withdrawals of CD is as follows: Term of Deposit No of Days for which Interest will be recovered 14 days 14 days 1 month to less than 1 year 30 days 1 year to less than 3 years 60 days 3 years to less than 5 years 120 days 5 years & over 180 days The penalty will be calculated at the same interest rate of the deposit. A penalty will not be charged if the premature withdrawal is caused by the death of the depositor or if the depositor is declared legally incompetent. g. Principal Protection: SBI New York Certificate of Deposit comes with “Principal Protection” feature. The penalty for early withdrawal would be limited up to the amount of interest paid / payable and will not result in reduction of the amount originally deposited. h. Renewal: If your CD is for a term of more than 30 days, we will send you a maturity notice not less than 14 days and not more than 30 days prior to the maturity date. No maturity notice will be sent for Certificate of Deposit with term of 30 days or less.
State Bank of India New York Customer Manual for Deposits 13 4.3. CERTIFICATE OF DEPOSIT (“CD”) A CD earns a fixed rate of interest when an amount of money (principal) is left on deposit with the Bank for a fixed period (a fixed number of days, months or years). After an account is opened, you may not make deposits into or withdraw from this account until the maturity date. Premature withdrawal of principal would attract a penalty. Refer to “Penalty for Early Withdrawal of Principal” (Section f). We offer CDs with maturities from 3 months to 5 years. Bank also accepts deposit for a tenor from 7 days to 3 months on a case to case basis. a. Interest Rate: The interest rate earned on a Certificate of Deposit will be a guaranteed fixed rate for the term of the CD. This rate is determined by the Bank, based on market conditions, at the time the account is opened or renewed. Presently we are not offering floating rate Certificate of Deposits. For current rate information, you may visit our website https://sbinewyork.statebank or call 212-521-3390. b. Annual Percentage Yield (APY): Our Certificates of Deposit are offered on simple interest (also called non-cumulative interest) and compound interest (also called cumulative interest) basis, depending upon your choice. For CDs with simple interest, there will not be any difference in the interest rate (also called Annual Percentage Rate, or APR) and the Annual Percentage Yield (APY). For CDs where interest is compounded, the Annual Percentage Yield measures the total amount of interest paid on the account in a year based on the interest rate and the frequency of compounding, which is quarterly. The interest is calculated on a 365 days basis. c. Compounding Period/Payment of Interest: If you choose to receive simple interest (non- cumulative) on your CD, you may opt to withdraw the interest at monthly/quarterly/half-yearly intervals, at the time of opening or renewing the CD, provided the deposit is for one year or more. For CDs of less than six months, the simple interest is paid at maturity. If you choose to receive compounded interest on your CD, interest will be compounded at quarterly intervals and will be paid along with the principal at the time of maturity. This option is only available for CDs of six months or higher maturities.

Test Case

Question: What is the purpose of the Termination provision?

Metric Baseline Score Current Score
answer_accuracy 0.88377297 0.87510028 (-0.00867269)
groundedness 0.89140261 0.88683406 (-0.00456855)
mean_answer_similarity 0.87677385 0.87539346 (-0.00138039)
mean_reciprocal_rank 1.00000000 1.00000000
min_answer_similarity 0.79643562 0.79643562
model_failures 0.00000000 0.00000000
model_generation_failures 0.00000000 0.00000000
model_parse_failures 0.00000000 0.00000000
model_passes 1.00000000 1.00000000
model_retrieval_failures 0.00000000 0.00000000
precision_relevancy 0.84717674 0.84585945 (-0.00131729)
recall_relevancy 0.90748737 0.90748737
rouge_1 0.13100437 0.13452915 (+0.00352478)
rouge_2 0.07929515 0.08144796 (+0.00215281)
rouge_l 0.10480349 0.10762332 (+0.00281982)

Legend:

  • Metric : The evaluation metric name. Shown in bold red if the metric flipped between pass/fail status.
  • Baseline Score : The metric value for the baseline model. Shown in bold green if baseline won, red if lost.
  • Current Score : The metric value for the current model, followed by the delta from baseline in parentheses.
  • Delta Colors : Green = improvement, Orange = regression, Red = metric flipped to fail.
  • Winner Determination : For each metric, the winner is determined by comparing scores while considering the metric's directionality (higher is better vs. lower is better).
Baseline Result Current Result
Model claude-3-7-sonnet-20250219@h2ogpte claude-3-7-sonnet-20250219@h2ogpte
Question What is the purpose of the Termination provision?
Expected answer To outline the circumstances under which the Bank may cancel or withdraw the Card or other services
Actual Answer According to the document, the Termination provision serves several purposes: 1. It establishes the Bank's right to cancel or withdraw the Card or any other services offered at any time without providing a reason (pages 54 and 56). 2. It outlines what happens when an account is closed: - The Card(s) issued with the Account will become void - The Card Holder must immediately stop using the Card and destroy all additional Cards - Any outstanding transactions pending to the Account will be netted out from the balance before the Bank returns funds to the Card Holder - If the Account is closed before debiting any outstanding Card Transactions, the Card Holder remains liable to refund the amount along with applicable interest and charges (pages 54 and 56-57) 3. It specifies conditions under which the Bank is entitled to terminate the Card with immediate effect without notice, including: - Card Holder's failure to comply with terms and conditions - Card Holder's default under an agreement with the Bank - Card Holder becoming subject to bankruptcy or insolvency proceedings - Demise of the Cardholder - Failure to maintain minimum required balance to cover transactions (page 57) The provision essentially protects the Bank's interests by establishing clear procedures for account termination and ensuring outstanding obligations are settled. According to the document, the Termination provision serves multiple purposes: 1. It establishes the Bank's right to cancel or withdraw the Card or any other services offered at any time without providing a reason (pages 54 and 56). 2. It outlines what happens when an account is closed: - The Card(s) issued with the Account will become void - The Card Holder must immediately cease using the Card and destroy all additional Cards - Outstanding transactions will be netted out from the balance before funds are returned to the Card Holder - If the account is closed before outstanding Card Transactions are debited, the Card Holder remains liable to refund the amount along with interest and applicable charges (pages 54 and 56) 3. It specifies conditions under which the Bank can terminate the Card with immediate effect without notice, including: - Card Holder's failure to comply with terms and conditions - Card Holder's default under an agreement with the Bank - Card Holder becoming subject to bankruptcy or insolvency proceedings - Demise of the Cardholder - Failure to maintain minimum required balance to cover transactions (page 57) The provision essentially protects the Bank's interests by establishing clear procedures for account closure and card termination while ensuring outstanding obligations are settled.
Retrieved Context
The Bank shall not be liable to the Card Holder or to any third party, for any loss or damage suffered due to the following reasons: (i) Any action carried out by the Bank, in good faith, based upon the instructions of the Card Holder, exercising due diligence and reasonable care; (ii) Any unauthorized and illegal Transactions occurring through the use of Bank Account(s), which can be attributed to the fraudulent or negligent conduct of the Card Holder, to the extent permitted by law; (iii) Any ATM or Merchant Establishment refusal to honor the Card, for whatever reason; (iv) Intrusion or hacking into the computer system/network or communication network of the Bank, to the extent permitted by law; (v) Failure to carry out any instructions of the Card Holder due to insufficiency of balance in the Card Holder’s Account(s) or if the card holder’s funds are subject to legal process or other restriction; (vi) Failure of the Card Holder to access the Account due to any Force Majeure Event, Technical Problems, or any other reason beyond the control of the Bank; (vii) Failure of the Card Holder to keep confidential and secure, PIN or any passwords, keywords or other identification marks given to the Card Holder for operating of the Account and/or Card; (viii) Failure of the Card Holder to inform the Bank regarding any changes in the Card Holder’s personal information; (ix) Breach of any of the other terms and conditions stated herein or in the Customer Manual by the Card Holder; (x) Non-debiting of Transaction amount instantly through ATM or Merchant Transactions; (xi) Other than to return your funds to you and to properly credit your account, under no circumstances shall the Bank be liable for any damages, whatsoever whether such damages are direct, indirect, incidental, consequential and irrespective of whether any claim is based on loss of revenue, investment, production, goodwill, profit, interruption of business or any other loss of any character of nature whatsoever and whether sustained by the Card Holder or any other third party. 14. Termination: The Bank reserves the right to cancel or withdraw the Card or any of the other services offered at any time without assigning any reason. If the Card Holder closes the Account, the Card(s) issued with the Account will be void. The Card Holder(s) must immediately cease to use the Card and destroy and return all additional Cards. If there are outstanding Transactions pending to the Account, the same will be netted out from the balance prior to the Bank returning the funds to the Card Holder. If the Account is closed, due to any reason whatsoever, prior to debit of any outstanding Card Transactions, Card Holder is liable to refund the amount along with the interest and
With respect to transactions done involving a debit card, generally, the Bank is not permitted to allow a debit cardholder to cancel a hold within MasterCard limits for Transactions that were authorized by the Card Holder but the cardholder is permitted to cancel, or place a stop payment, on a pre-authorized transaction scheduled to occur at regular intervals, such as a monthly utility payment or loan installment. Before requesting the Bank to stop a recurring payment, the Card Holder should take up with the merchant/ beneficiary for cancelling/ stopping such payment. The Bank may require details of such request made to the merchant/ beneficiary for acting upon Card Holder’s request. The Card Holder must give the Bank written instructions to cancel or stop such a payment at least three (3) days prior to the scheduled debit. The stop order takes effect when it is recorded on your account. While instructing us to stop payment of any check, please give us the check number, the amount, the date of issue and the name of the beneficiary in case of a pre-authorized recurring transaction, we will need the amount, the scheduled date of debit, name of the beneficiary and mode of transaction viz ACH or Debit Card. In the absence of complete and correct particulars, the stop order would be ineffective. If we fail to stop a payment and if you have requested us well in time and with all the particulars as detailed above, we will be liable for your losses or damages, limited to the amount of that check. An oral order is binding upon the Bank only for three (3) days unless confirmed in writing within that period. A written order will remain effective unless cancelled in writing.
• Principal: The exact sum of money deposited in an account or the amount of money borrowed. • Right of Set-Off: Right to adjust any overdue debt from any other account held singly or jointly with us. • Substitute Check: means a paper reproduction of an original check that contains an image of the front and back of the original check, bears a MICR line, and is suitable for automated processing in the same manner as the original check. 7 Privacy Notice: FACTS WHAT DOES STATE BANK OF INDIA (SBI-US) DO WITH YOUR PERSONAL INFORMATION? Why? Financial companies choose how they share your personal information. Federal law gives consumers the right to limit some but not all sharing. Federal law also requires us to tell you how we collect, share, and protect your personal information. Please read this notice carefully to understand what we do. What? The types of personal information we collect and share depend on the product or service you have with us. This information can include: Social Security number and income Account balances and payment history Assets and debt When you are no longer our customer, we continue to share your information as described in this notice.
State Bank of India New York Customer Manual for Deposits 54 k) Under no circumstances shall the Bank be liable for any damages, whatsoever whether such damages are direct, indirect, incidental, consequential and irrespective of whether any claim is based on loss of revenue, investment, production, goodwill, profit, interruption of business or any other loss of any character of nature whatsoever and whether sustained by the Card Holder or any other third party. 15. Changes in Terms: The Bank may amend this Supplement from time to time in accordance with the changes provided in the Customer Manual. 16. Termination: The Bank reserves the right to cancel or withdraw the Card or any of the other services offered at any time without assigning any reason. a) If the Card Holder closes the Account, the Card(s) issued with the Account will be void. The Card Holder(s) must immediately cease to use the Card and destroy all additional Cards. If there are outstanding Transactions pending to the Account, the same will be netted out from the balance prior to the Bank returning the funds to the Card Holder. If the Account is closed, due to any reason whatsoever, prior to debit of any outstanding Card Transactions, Card Holder is liable to refund the amount along with the interest and charges applicable from time to time.
The following is indicative list of eligible non-limited transactions:  Deposits  ATM Cash withdrawals subject to daily amount limits and sufficient available funds in the account  Withdrawals made in person or by mail at State Bank of India New York  Transfers made in person at State Bank of India New York The following is indicative list of transactions subject to the limit of (SIX) transfers:  Checks, Point of Sale (POS) transactions or debit card purchases  Automatic transfers to another deposit account at SBI, New York  Automatic transfers to a third party or another institution  Telephonic transfers including those initiated by phone call, fax, email through a Bank's representative  Online banking transfers and bill payments Should more than 6 (six) transfers or withdrawals which are subject to the limit, be effected in a month in an MMDA account, an excess check writing fee of $5.00 per excess check or transfer will be levied. Further, if the customer continues to violate the prescribed limit repeatedly, we shall send a letter to the customer, notifying him/her of the violation and also of our policy for reclassifying the account as Checking Account. In case the customer is not agreeable for reclassification, the account will be closed. The Bank reserves the right to enforce this clause if prescribed limits are violated in three consecutive months. We also reserve the right to refuse any transaction(s) which exceed the permissible limit. We are required by law to reserve the right of 7 days’ advance notice before permitting a withdrawal. However, we do not currently exercise this right.
9. ELECTRONIC FUND TRANSFERS (Applicable only to Consumer Accounts) a. Applicability: This section addresses the items and conditions which apply when you authorize Electronic Funds Transfers (EFT) of Federal recurring payments such as Social Security credits (SSA, SSI checks, etc.), ACH transactions and debit card transactions to your account. These terms apply if you receive a State Bank of India, New York Branch ATM-cum- Debit Card. If you are approved, the card is forwarded to you at your registered mailing address. By activating the card, you agree to these terms and conditions. All other terms and conditions for your account, as set forth in this Manual, will also apply. An Electronic Funds Transfer means any transfer of funds started through an electronic terminal or a magnetic tape for the purpose of instructing or authorizing us to credit/ debit your account. b. Definitions: Additional terms are defined as follows: “Card” or “Debit Card” refers to the State Bank of India -- New York Branch Debit Card issued by the Bank to a Card Holder. The card issued is co-branded by MasterCard. “Card Holder” means the approved Customer who has been issued the Card and who is authorized to hold and use the Card. Card Holder is referred to as “you”, “your”, or similar pronouns. Words in
State Bank of India New York Customer Manual for Deposits 57 charges applicable from time to time. The Bank shall be entitled to terminate the Card with immediate effect without notice and the Card shall be returned upon the occurrence of any of the following events: 1. Card Holders Holder’s failure to comply with the terms and conditions herein. 2. The Card Holder’s default under an agreement or commitment entered into with the Bank. 3. The Card Holder becomes the subject of any bankruptcy, insolvency proceedings or proceedings of the similar nature. 4. Demise of the Cardholder. 5. Failure to maintain minimum required balance to cover transactions.
 If you have repeatedly overdrawn your account in the last 6 months, i.e., (i) on six or more business days on which we were open during the last 6 months or (ii) on two or more business days on which we were open during the last 6 months with an overdraft equal to or exceeding $5,525 each time. For this purpose, your account will be considered overdrawn even if checks issued by you, which would have resulted in an overdraft of $5,525 or more, had they been paid, were actually returned unpaid.  There is an emergency such as a failure of communications, or computer equipment, or war, or suspension of payment by another bank.  Funds availability in respect of FRB and Federal Home Loan Bank checks, certified, cashier’s, teller’s and official checks, as well as in respect of item 3 of the chart, may be delayed beyond the
State Bank of India New York Customer Manual for Deposits 40 from time to time. Our decision to approve your request to use the Service is within our sole discretion. Your rights in using the Service are governed by the terms set forth in this Manual and by any receipt or disclosures you receive at the time that you arrange for a remittance transfer. f. Fees. You will be assessed fees and other charges associated with the Service as detailed in the “Schedule of Fees & Charges” in this Manual. We reserve the right to change from time to time our fees and other charges. Our fees and charges will also be disclosed in the documentation you receive at the time that you arrange for a remittance transfer. g. Cancellation, Amendment and Termination. We may suspend or cancel the Service in our sole discretion. We may also limit or restrict your use of the Service, as provided below, in our sole discretion. If you wish to cancel a remittance more than 30 minutes after you have paid us, we will endeavor to do so if possible. Likewise, if you wish to amend an instruction that you have given us more than 30 minutes after you have paid us, we will endeavor to do so if possible. You may be charged a fee for such cancellations or amendments. h. Instructions. It is your responsibility to ensure that we are provided with accurate, clear, and correct instructions regarding your remittances. In case the remitter provides incorrect beneficiary account details or the remittance is returned by beneficiary bank for any reason, the remittance may be recalled by the branch and the amount so recalled would be converted at prevalent (INR-USD) purchase rate. We may refuse to accept instructions from anyone other than you in our sole discretion. We may also refuse to execute any remittance requests which are incomplete. You will strictly adhere to the security procedures applicable from time to time to the Service. Bank reserves the right to ask for any additional documents before/after processing the remittance. For remittances to NGOs/charitable purpose, the customer will have to provide the copy of updated FCRA (Foreign Contribution Regulation Act) certificate. The Bank reserves the right to not process the remittance if the FCRA (Foreign Contribution Regulation Act) number is not valid based on confirmation from Ministry of Home Affairs website of Government of India. All the remittance requests received at the SBI New York are subject to approval of our internal Compliance department. We may seek any additional information regarding the remittance like purpose of transactions, specific details about beneficiary etc. before executing the remittance. We may refuse to execute the remittance if the additional information sought is not provided by the remitter. If the beneficiary’s account number that you provide does not correspond to the name of the beneficiary that you provide, we will not be liable for losses resulting from the beneficiary’s financial institution paying the wrong person or does not accept the wire or places the funds in a suspense account pending clarification. We will not be liable to you or any other person for any losses resulting from the beneficiary’s financial institution accepting and posting any wire transfer to an incorrect account. We will also not be liable to you or the beneficiary of the wire or any other person for any fees that may be deducted by the beneficiary’s financial institution. We will not be liable for losses resulting from your failure to properly identify the financial institution where the beneficiary maintains an account.
State Bank of India New York Customer Manual for Deposits 25 An explanation of why the substitute check you received is insufficient to confirm that you suffered a loss; and A copy of the substitute check [and/or] the following information to help us identify the substitute check: (identifying information, for example the check number, the name of the person to whom you wrote the check, the amount of the check). [Both a legible copy of the substitute check and the details are preferred for an early response from the Bank] 5. ADDITIONAL INFORMATION ON DEPOSIT ACCOUNTS 5.1 Designation of Beneficiary We have introduced the DOB (Designation of Beneficiary) facility for individual customers. The facility is available to both existing as well as new customers. You can also designate beneficiaries for your existing accounts with us. The DOB form is available on our website https://sbinewyork.statebank. Please read the FAQ below to understand the DOB facility. a) What is the total number of beneficiaries permitted? The total number of beneficiaries will be restricted to four (4). It is Bank’s policy to accept designations where all beneficiaries have equal shares. In the event a beneficiary pre- deceases the account holder(s) the surviving beneficiaries will be entitled to equal shares of the balance of the account.
The Bank shall not be liable to the Card Holder or to any third party, for any loss or damage suffered due to the following reasons: (i) Any action carried out by the Bank, in good faith, based upon the instructions of the Card Holder, exercising due diligence and reasonable care; (ii) Any unauthorized and illegal Transactions occurring through the use of Bank Account(s), which can be attributed to the fraudulent or negligent conduct of the Card Holder, to the extent permitted by law; (iii) Any ATM or Merchant Establishment refusal to honor the Card, for whatever reason; (iv) Intrusion or hacking into the computer system/network or communication network of the Bank, to the extent permitted by law; (v) Failure to carry out any instructions of the Card Holder due to insufficiency of balance in the Card Holder’s Account(s) or if the card holder’s funds are subject to legal process or other restriction; (vi) Failure of the Card Holder to access the Account due to any Force Majeure Event, Technical Problems, or any other reason beyond the control of the Bank; (vii) Failure of the Card Holder to keep confidential and secure, PIN or any passwords, keywords or other identification marks given to the Card Holder for operating of the Account and/or Card; (viii) Failure of the Card Holder to inform the Bank regarding any changes in the Card Holder’s personal information; (ix) Breach of any of the other terms and conditions stated herein or in the Customer Manual by the Card Holder; (x) Non-debiting of Transaction amount instantly through ATM or Merchant Transactions; (xi) Other than to return your funds to you and to properly credit your account, under no circumstances shall the Bank be liable for any damages, whatsoever whether such damages are direct, indirect, incidental, consequential and irrespective of whether any claim is based on loss of revenue, investment, production, goodwill, profit, interruption of business or any other loss of any character of nature whatsoever and whether sustained by the Card Holder or any other third party. 14. Termination: The Bank reserves the right to cancel or withdraw the Card or any of the other services offered at any time without assigning any reason. If the Card Holder closes the Account, the Card(s) issued with the Account will be void. The Card Holder(s) must immediately cease to use the Card and destroy and return all additional Cards. If there are outstanding Transactions pending to the Account, the same will be netted out from the balance prior to the Bank returning the funds to the Card Holder. If the Account is closed, due to any reason whatsoever, prior to debit of any outstanding Card Transactions, Card Holder is liable to refund the amount along with the interest and
• Principal: The exact sum of money deposited in an account or the amount of money borrowed. • Right of Set-Off: Right to adjust any overdue debt from any other account held singly or jointly with us. • Substitute Check: means a paper reproduction of an original check that contains an image of the front and back of the original check, bears a MICR line, and is suitable for automated processing in the same manner as the original check. 7 Privacy Notice: FACTS WHAT DOES STATE BANK OF INDIA (SBI-US) DO WITH YOUR PERSONAL INFORMATION? Why? Financial companies choose how they share your personal information. Federal law gives consumers the right to limit some but not all sharing. Federal law also requires us to tell you how we collect, share, and protect your personal information. Please read this notice carefully to understand what we do. What? The types of personal information we collect and share depend on the product or service you have with us. This information can include: Social Security number and income Account balances and payment history Assets and debt When you are no longer our customer, we continue to share your information as described in this notice.
State Bank of India New York Customer Manual for Deposits 54 k) Under no circumstances shall the Bank be liable for any damages, whatsoever whether such damages are direct, indirect, incidental, consequential and irrespective of whether any claim is based on loss of revenue, investment, production, goodwill, profit, interruption of business or any other loss of any character of nature whatsoever and whether sustained by the Card Holder or any other third party. 15. Changes in Terms: The Bank may amend this Supplement from time to time in accordance with the changes provided in the Customer Manual. 16. Termination: The Bank reserves the right to cancel or withdraw the Card or any of the other services offered at any time without assigning any reason. a) If the Card Holder closes the Account, the Card(s) issued with the Account will be void. The Card Holder(s) must immediately cease to use the Card and destroy all additional Cards. If there are outstanding Transactions pending to the Account, the same will be netted out from the balance prior to the Bank returning the funds to the Card Holder. If the Account is closed, due to any reason whatsoever, prior to debit of any outstanding Card Transactions, Card Holder is liable to refund the amount along with the interest and charges applicable from time to time.
 If you have repeatedly overdrawn your account in the last 6 months, i.e., (i) on six or more business days on which we were open during the last 6 months or (ii) on two or more business days on which we were open during the last 6 months with an overdraft equal to or exceeding $5,525 each time. For this purpose, your account will be considered overdrawn even if checks issued by you, which would have resulted in an overdraft of $5,525 or more, had they been paid, were actually returned unpaid.  There is an emergency such as a failure of communications, or computer equipment, or war, or suspension of payment by another bank.  Funds availability in respect of FRB and Federal Home Loan Bank checks, certified, cashier’s, teller’s and official checks, as well as in respect of item 3 of the chart, may be delayed beyond the
9. ELECTRONIC FUND TRANSFERS (Applicable only to Consumer Accounts) a. Applicability: This section addresses the items and conditions which apply when you authorize Electronic Funds Transfers (EFT) of Federal recurring payments such as Social Security credits (SSA, SSI checks, etc.), ACH transactions and debit card transactions to your account. These terms apply if you receive a State Bank of India, New York Branch ATM-cum- Debit Card. If you are approved, the card is forwarded to you at your registered mailing address. By activating the card, you agree to these terms and conditions. All other terms and conditions for your account, as set forth in this Manual, will also apply. An Electronic Funds Transfer means any transfer of funds started through an electronic terminal or a magnetic tape for the purpose of instructing or authorizing us to credit/ debit your account. b. Definitions: Additional terms are defined as follows: “Card” or “Debit Card” refers to the State Bank of India -- New York Branch Debit Card issued by the Bank to a Card Holder. The card issued is co-branded by MasterCard. “Card Holder” means the approved Customer who has been issued the Card and who is authorized to hold and use the Card. Card Holder is referred to as “you”, “your”, or similar pronouns. Words in
State Bank of India New York Customer Manual for Deposits 40 from time to time. Our decision to approve your request to use the Service is within our sole discretion. Your rights in using the Service are governed by the terms set forth in this Manual and by any receipt or disclosures you receive at the time that you arrange for a remittance transfer. f. Fees. You will be assessed fees and other charges associated with the Service as detailed in the “Schedule of Fees & Charges” in this Manual. We reserve the right to change from time to time our fees and other charges. Our fees and charges will also be disclosed in the documentation you receive at the time that you arrange for a remittance transfer. g. Cancellation, Amendment and Termination. We may suspend or cancel the Service in our sole discretion. We may also limit or restrict your use of the Service, as provided below, in our sole discretion. If you wish to cancel a remittance more than 30 minutes after you have paid us, we will endeavor to do so if possible. Likewise, if you wish to amend an instruction that you have given us more than 30 minutes after you have paid us, we will endeavor to do so if possible. You may be charged a fee for such cancellations or amendments. h. Instructions. It is your responsibility to ensure that we are provided with accurate, clear, and correct instructions regarding your remittances. In case the remitter provides incorrect beneficiary account details or the remittance is returned by beneficiary bank for any reason, the remittance may be recalled by the branch and the amount so recalled would be converted at prevalent (INR-USD) purchase rate. We may refuse to accept instructions from anyone other than you in our sole discretion. We may also refuse to execute any remittance requests which are incomplete. You will strictly adhere to the security procedures applicable from time to time to the Service. Bank reserves the right to ask for any additional documents before/after processing the remittance. For remittances to NGOs/charitable purpose, the customer will have to provide the copy of updated FCRA (Foreign Contribution Regulation Act) certificate. The Bank reserves the right to not process the remittance if the FCRA (Foreign Contribution Regulation Act) number is not valid based on confirmation from Ministry of Home Affairs website of Government of India. All the remittance requests received at the SBI New York are subject to approval of our internal Compliance department. We may seek any additional information regarding the remittance like purpose of transactions, specific details about beneficiary etc. before executing the remittance. We may refuse to execute the remittance if the additional information sought is not provided by the remitter. If the beneficiary’s account number that you provide does not correspond to the name of the beneficiary that you provide, we will not be liable for losses resulting from the beneficiary’s financial institution paying the wrong person or does not accept the wire or places the funds in a suspense account pending clarification. We will not be liable to you or any other person for any losses resulting from the beneficiary’s financial institution accepting and posting any wire transfer to an incorrect account. We will also not be liable to you or the beneficiary of the wire or any other person for any fees that may be deducted by the beneficiary’s financial institution. We will not be liable for losses resulting from your failure to properly identify the financial institution where the beneficiary maintains an account.
State Bank of India New York Customer Manual for Deposits 25 An explanation of why the substitute check you received is insufficient to confirm that you suffered a loss; and A copy of the substitute check [and/or] the following information to help us identify the substitute check: (identifying information, for example the check number, the name of the person to whom you wrote the check, the amount of the check). [Both a legible copy of the substitute check and the details are preferred for an early response from the Bank] 5. ADDITIONAL INFORMATION ON DEPOSIT ACCOUNTS 5.1 Designation of Beneficiary We have introduced the DOB (Designation of Beneficiary) facility for individual customers. The facility is available to both existing as well as new customers. You can also designate beneficiaries for your existing accounts with us. The DOB form is available on our website https://sbinewyork.statebank. Please read the FAQ below to understand the DOB facility. a) What is the total number of beneficiaries permitted? The total number of beneficiaries will be restricted to four (4). It is Bank’s policy to accept designations where all beneficiaries have equal shares. In the event a beneficiary pre- deceases the account holder(s) the surviving beneficiaries will be entitled to equal shares of the balance of the account.
State Bank of India New York Customer Manual for Deposits 22 The Bank also reserves the right to close your accounts without any prior notice for any reason in the Bank’s sole discretion. The Bank will mail you a check for the balance in the accounts. The Bank may give you notice before taking this step, although we are not obliged to do so. We also reserve the right to close your account if your account has a NIL balance for more than three (3) months. Payment of interest on your account (if your account is interest-bearing) will cease from the date of closure of the account. Checking and Money Market Deposit Accounts cannot be negotiated or transferred to another individual or corporation or entity. o. Bank’s Liability: If the Bank does not complete a transfer to or from your account in time or for the correct amount as per your agreement with us, we will be liable for your direct losses or damages but not any indirect costs or punitive costs or damages. However, the Bank will not be liable in circumstances such as:  The funds in your account are not sufficient to affect the transfer  The automated teller machine where you were making the transfer has a communication failure.  The automated teller machine did not have enough cash  If circumstances beyond our control prevent the transfer.  If we are unable to confirm the transaction with you (if required)  Any other exceptions stated in our agreement with you.
State Bank of India New York Customer Manual for Deposits 30 offices are collectively referred to as SBI-US in this Notice. What we do How does SBI–US protect my personal information? To protect your personal information from unauthorized access and use, we use security measures that comply with federal law. SBI-US has established physical, technological and procedural systems and controls for protecting the confidentiality of your personal information. SBI-US employees undergo training on protecting customer information. How does SBI–US collect my personal information? We collect your personal information, for example, when you Open an account or deposit money Pay your bills or apply for a loan Use your credit or debit card We also collect your personal information from credit bureaus. Why can't I limit all sharing? Federal law gives you the right to limit only Sharing for affiliates’ everyday business purposes- information about your creditworthiness Affiliates from using your information to market to you Sharing for non-affiliates to market to you State laws and individual companies may give you additional rights to limit sharing. See below for more on your rights under state law.
State Bank of India New York Customer Manual for Deposits 57 charges applicable from time to time. The Bank shall be entitled to terminate the Card with immediate effect without notice and the Card shall be returned upon the occurrence of any of the following events: 1. Card Holders Holder’s failure to comply with the terms and conditions herein. 2. The Card Holder’s default under an agreement or commitment entered into with the Bank. 3. The Card Holder becomes the subject of any bankruptcy, insolvency proceedings or proceedings of the similar nature. 4. Demise of the Cardholder. 5. Failure to maintain minimum required balance to cover transactions.

Test Case

Question: What is the Principal Protection feature of a Senior Citizen CD?

Metric Baseline Score Current Score
answer_accuracy 0.78121078 0.72226167 (-0.05894911)
groundedness 0.87982604 0.86516906 (-0.01465698)
mean_answer_similarity 0.83387431 0.86598653 (+0.03211221)
mean_reciprocal_rank 1.00000000 1.00000000
min_answer_similarity 0.78121078 0.72226167 (-0.05894911)
model_failures 0.00000000 0.00000000
model_generation_failures 0.00000000 0.00000000
model_parse_failures 0.00000000 0.00000000
model_passes 1.00000000 1.00000000
model_retrieval_failures 0.00000000 0.00000000
precision_relevancy 0.83498977 0.83803625 (+0.00304648)
recall_relevancy 0.86879002 0.88709564 (+0.01830561)
rouge_1 0.44262295 0.32530120 (-0.11732175)
rouge_2 0.43333333 0.31707317 (-0.11626016)
rouge_l 0.44262295 0.32530120 (-0.11732175)

Legend:

  • Metric : The evaluation metric name. Shown in bold red if the metric flipped between pass/fail status.
  • Baseline Score : The metric value for the baseline model. Shown in bold green if baseline won, red if lost.
  • Current Score : The metric value for the current model, followed by the delta from baseline in parentheses.
  • Delta Colors : Green = improvement, Orange = regression, Red = metric flipped to fail.
  • Winner Determination : For each metric, the winner is determined by comparing scores while considering the metric's directionality (higher is better vs. lower is better).
Baseline Result Current Result
Model claude-3-7-sonnet-20250219@h2ogpte claude-3-7-sonnet-20250219@h2ogpte
Question What is the Principal Protection feature of a Senior Citizen CD?
Expected answer The penalty for early withdrawal would be limited up to the amount of interest paid / payable and will not result in reduction of the amount originally deposited.
Actual Answer According to the document, the Principal Protection feature of a Senior Citizen CD means that "the penalty for early withdrawal would be limited up to the amount of interest paid/payable and will not result in reduction of the amount originally deposited." This is mentioned on page 16 of the Customer Manual for Deposits. This feature ensures that even if a customer withdraws their Senior Citizen CD before maturity, they will never lose any of their original principal amount - the penalty will only be applied to the interest earned or that would have been earned. According to the document, the Principal Protection feature of a Senior Citizen CD ensures that the penalty for early withdrawal would be limited up to the amount of interest paid/payable and will not result in reduction of the amount originally deposited. This is explicitly stated on page 16 of the State Bank of India New York Customer Manual for Deposits, which notes: "Principal Protection: SBI New York Certificate of Deposit comes with the 'Principal Protection' feature. The penalty for early withdrawal would be limited up to the amount of interest paid/payable and will not result in reduction of the amount originally deposited." This means that even if a customer withdraws their Senior Citizen CD before maturity, the bank will only charge penalties from the interest earned, ensuring that the original principal amount invested remains intact and protected.
Retrieved Context
a. Interest Rate: The interest rate earned on a Senior Citizen Certificate of Deposit will earn fixed rate for the term of the CD. This rate is determined by the Bank, based on market conditions, at the time the account is opened or renewed. For current rate information, you may visit our website https://sbinewyork.statebank or call (212) 521-3390 b. Annual Percentage Yield (APY): Senior Citizen Certificate of Deposit is offered on simple interest (also called non-cumulative interest) and compound interest (also called cumulative interest) basis, depending upon your choice. In case of simple interest, the Annual Percentage Rate(APR) and Annual Percentage Yield would be the same. In case of compound interest, APY measures the total amount of interest paid on the account in a year based on the interest rate and the frequency of compounding is quarterly. The interest is calculated on a 365 days basis. c. Compounding Period/Payment of Interest: If you choose to receive simple interest (non- cumulative) on your CD, you may opt to withdraw the interest at monthly/quarterly/half-yearly intervals, at the time of opening or renewing the CD. If you choose to receive compounded interest on your CD, interest will be compounded at quarterly intervals and will be paid along with the principal at the time of maturity.
d. Interest Payment Method: When opening the CD, you may opt to receive the periodic interest payments by any one of the following: • Through ACH/Wire transfer to your designated bank account • By an official check through regular mail • In your Checking or Money Market Deposit Account with us. If you opt to receive compounded interest (cumulative), we will pay you interest along with the principal at the time of maturity of the CD. e. Minimum Balance Requirement: The minimum amount required for each CD may vary for US resident depositors and those based outside the USA. It may also vary for consumer and accounts of businesses. Currently, the following are the minimum balances:
• Principal: The exact sum of money deposited in an account or the amount of money borrowed. • Right of Set-Off: Right to adjust any overdue debt from any other account held singly or jointly with us. • Substitute Check: means a paper reproduction of an original check that contains an image of the front and back of the original check, bears a MICR line, and is suitable for automated processing in the same manner as the original check. 7 Privacy Notice: FACTS WHAT DOES STATE BANK OF INDIA (SBI-US) DO WITH YOUR PERSONAL INFORMATION? Why? Financial companies choose how they share your personal information. Federal law gives consumers the right to limit some but not all sharing. Federal law also requires us to tell you how we collect, share, and protect your personal information. Please read this notice carefully to understand what we do. What? The types of personal information we collect and share depend on the product or service you have with us. This information can include: Social Security number and income Account balances and payment history Assets and debt When you are no longer our customer, we continue to share your information as described in this notice.
If we do not hear from you, and unless you had specifically advised us against automatic renewal when you opened the CD, 1. We will automatically renew the CD (principal and earned interest) for a period of one year at the rate offered for one year term on the date the CD matured for CDs having maturity of 1 year or more. 2. For CDs of lower tenor, the CD shall be auto-rolled over for original tenor. In the absence of your instruction for disposal of the maturity proceeds (where automatic renewal option has been declined), the maturity amount will be placed in a non-interest bearing account.
State Bank of India New York Customer Manual for Deposits 14 Type US Resident Non-US Resident Consumer accounts $5,000 $10,000 Accounts of Businesses $10,000 $10,000 f. Early Withdrawal Penalty: The principal amount of CD cannot usually be withdrawn before the maturity date, unless the Bank consents to the withdrawal as a special case. We may require that all holders of a joint account authorize a premature withdrawal of the principal from a CD account. Partial withdrawal is not permitted. The penalty for early withdrawals of CD is as follows: Term of Deposit No of Days for which Interest will be recovered 14 days 14 days 1 month to less than 1 year 30 days 1 year to less than 3 years 60 days 3 years to less than 5 years 120 days 5 years & over 180 days The penalty will be calculated at the same interest rate of the deposit. A penalty will not be charged if the premature withdrawal is caused by the death of the depositor or if the depositor is declared legally incompetent. g. Principal Protection: SBI New York Certificate of Deposit comes with “Principal Protection” feature. The penalty for early withdrawal would be limited up to the amount of interest paid / payable and will not result in reduction of the amount originally deposited. h. Renewal: If your CD is for a term of more than 30 days, we will send you a maturity notice not less than 14 days and not more than 30 days prior to the maturity date. No maturity notice will be sent for Certificate of Deposit with term of 30 days or less.
State Bank of India New York Customer Manual for Deposits 23 requests (in case of New Accounts) 2. Account opening forms (Corporate) Mail* 3. Account activation request Mail*, Online Banking secure message (signed requests) 4. Account Freeze/ Unfreeze request Mail*, Online Banking secure message (signed requests) 5. CIP updation form Mail*, Online Banking secure message (signed requests) 6. Change in authorized signatory Mail*, Online Banking secure message (signed requests) 7 Address change request Mail*, Online Banking secure message (signed requests) 8 Email address change Mail*, Online Banking secure message (signed requests) 9 Phone number changes Mail*, Online Banking secure message (signed requests) 10 Stop payment request Mail*, Online Banking secure message (signed requests), Phone (followed by signed request), Check can be stopped online through “YONO US Portal” 11 INB user id unlock request* Mail*, Email from registered Email address 12 INB password reset request* Mail* (Not applicable for new “YONO US Portal”) 13 INB security question reset* Mail* (Not applicable for new “YONO US Portal”) 14 INB Sure key regeneration request^ Mail* (Not applicable for new “YONO US Portal”) 15 INB OTP unlock Request Mail*, Email from registered Email address 16 Addition / deletion of joint holders (Individual consumers) Mail*, Online Banking secure message (signed requests) 17 Designation of beneficiary (DOB) (Individual consumers) Mail*,Online Banking secure message (signed requests) 18. Balance confirmation (Individual consumers) Mail*, Online Banking secure message (signed requests) 19 Request for account statements/ CD safekeeping’s (if soft copy requested, to be sent through Zix secure- email)(Individual consumers) Mail*, Online Banking secure message (signed requests) 20 Request for interest certificates Mail*, Online Banking secure message
State Bank of India New York Customer Manual for Deposits 30 offices are collectively referred to as SBI-US in this Notice. What we do How does SBI–US protect my personal information? To protect your personal information from unauthorized access and use, we use security measures that comply with federal law. SBI-US has established physical, technological and procedural systems and controls for protecting the confidentiality of your personal information. SBI-US employees undergo training on protecting customer information. How does SBI–US collect my personal information? We collect your personal information, for example, when you Open an account or deposit money Pay your bills or apply for a loan Use your credit or debit card We also collect your personal information from credit bureaus. Why can't I limit all sharing? Federal law gives you the right to limit only Sharing for affiliates’ everyday business purposes- information about your creditworthiness Affiliates from using your information to market to you Sharing for non-affiliates to market to you State laws and individual companies may give you additional rights to limit sharing. See below for more on your rights under state law.
State Bank of India New York Customer Manual for Deposits 16 Maturity period of deposit Number of days for which interest will be recovered 1 year to less than 3 years 60 days 3 years to less than 5 years 120 days 5 years & over 180 days The penalty will be calculated at the same interest rate of the deposit. A penalty will not be charged in case the withdrawal is caused by death of the depositor or if the depositor is declared legally incompetent. Principal Protection: SBI New York Certificate of Deposit comes with the “Principal Protection” feature. The penalty for early withdrawal would be limited up to the amount of interest paid / payable and will not result in reduction of the amount originally deposited. g. Interest Payment Method: When opening the CD, you may opt to receive the periodic interest payments by any one of the following: • Through ACH/Wire transfer to your designated bank account • By an official check through regular mail • In your Checking or Money Market Deposit Account with us. h. Renewal: We will send you a maturity notice not less than 14 days and not more than 30 days prior to the maturity date. If we do not hear from you, and unless you had specifically advised us against automatic renewal when you opened the CD, we will automatically renew the CD after 10 calendar days, under the same product for a period of one year at the rate offered for one year term on the date the CD matured. In the absence of your instruction for disposal of the maturity proceeds (where automatic renewal option has been declined), the maturity amount will be placed in a non-interest bearing account. CDs that were automatically renewed have a ten- calendar-day grace period (including the date of maturity). During the grace period, you may withdraw the amount of your deposit without incurring a premature withdrawal penalty. However, no interest will be paid from the date of maturity until the date of such withdrawal. If you choose to renew your deposit, during this grace period of 10 days, from a date later than the date of maturity, no interest will be paid from the date of maturity until the date of such renewal. Please, however, note that written instructions for withdrawal should be received by us within the grace period. The instructions will be accepted through Secured Messaging on Internet Banking Portal/Mail/In person visits to the Bank. CDs that mature on Saturdays, Sundays or Federal holidays will be available for withdrawal on the next business day and interest will be paid until the maturity date. CDs may not be negotiated or transferred to another individual or corporation. Your existing CDs may also be renewed as Senior Citizen CD in case you fulfil the eligibility norms subject to receipt of written request to convert the CD into a Senior Citizen CD. Existing CDs will not be auto renewed as Senior Citizen CD even though you may fulfil the eligibility conditions.
State Bank of India New York Customer Manual for Deposits 13 4.3. CERTIFICATE OF DEPOSIT (“CD”) A CD earns a fixed rate of interest when an amount of money (principal) is left on deposit with the Bank for a fixed period (a fixed number of days, months or years). After an account is opened, you may not make deposits into or withdraw from this account until the maturity date. Premature withdrawal of principal would attract a penalty. Refer to “Penalty for Early Withdrawal of Principal” (Section f). We offer CDs with maturities from 3 months to 5 years. Bank also accepts deposit for a tenor from 7 days to 3 months on a case to case basis. a. Interest Rate: The interest rate earned on a Certificate of Deposit will be a guaranteed fixed rate for the term of the CD. This rate is determined by the Bank, based on market conditions, at the time the account is opened or renewed. Presently we are not offering floating rate Certificate of Deposits. For current rate information, you may visit our website https://sbinewyork.statebank or call 212-521-3390. b. Annual Percentage Yield (APY): Our Certificates of Deposit are offered on simple interest (also called non-cumulative interest) and compound interest (also called cumulative interest) basis, depending upon your choice. For CDs with simple interest, there will not be any difference in the interest rate (also called Annual Percentage Rate, or APR) and the Annual Percentage Yield (APY). For CDs where interest is compounded, the Annual Percentage Yield measures the total amount of interest paid on the account in a year based on the interest rate and the frequency of compounding, which is quarterly. The interest is calculated on a 365 days basis. c. Compounding Period/Payment of Interest: If you choose to receive simple interest (non- cumulative) on your CD, you may opt to withdraw the interest at monthly/quarterly/half-yearly intervals, at the time of opening or renewing the CD, provided the deposit is for one year or more. For CDs of less than six months, the simple interest is paid at maturity. If you choose to receive compounded interest on your CD, interest will be compounded at quarterly intervals and will be paid along with the principal at the time of maturity. This option is only available for CDs of six months or higher maturities.
CATEGORIES OF CONSUMER ACCOUNTS A. Individual Accounts These are opened in the name of one person who is the only party who may authorize transactions in the account. B. Joint Accounts shall be opened with right of Survivorship Only : These are opened when two or more persons desire to have a common or joint account. These can be operated:  jointly by all the persons with right of survivorship only;  by any one of them;  In the event of death of any of the joint account holders, the balance will be available to the surviving account holder(s). All account holders must sign the application and specimen signature card. The Bank reserves the right to freeze or suspend the account if:  It receives a letter from any one of the account holders objecting to further transactions, or  It is made aware of a dispute.  In such an eventuality, all account holders will have to sign any instruction to the Bank. The Bank shall have the right to set off all funds in the account against any overdue debt, or to satisfy a judgment against any one of the joint account holders. C. Accounts in the Names of Minors (Only CD accounts are permitted) • Accounts can only be opened on behalf of minors by parents/natural guardian/a person appointed by the court. • These accounts are subject to New York Uniform Gifts to Minors Act under which the gift is irrevocable. • The SSN of the trustee or guardian and the minor is required on the application. • The guardian operates the account for the benefit of the minor until the latter attains the
State Bank of India New York Customer Manual for Deposits 23 requests (in case of New Accounts) 2. Account opening forms (Corporate) Mail* 3. Account activation request Mail*, Online Banking secure message (signed requests) 4. Account Freeze/ Unfreeze request Mail*, Online Banking secure message (signed requests) 5. CIP updation form Mail*, Online Banking secure message (signed requests) 6. Change in authorized signatory Mail*, Online Banking secure message (signed requests) 7 Address change request Mail*, Online Banking secure message (signed requests) 8 Email address change Mail*, Online Banking secure message (signed requests) 9 Phone number changes Mail*, Online Banking secure message (signed requests) 10 Stop payment request Mail*, Online Banking secure message (signed requests), Phone (followed by signed request), Check can be stopped online through “YONO US Portal” 11 INB user id unlock request* Mail*, Email from registered Email address 12 INB password reset request* Mail* (Not applicable for new “YONO US Portal”) 13 INB security question reset* Mail* (Not applicable for new “YONO US Portal”) 14 INB Sure key regeneration request^ Mail* (Not applicable for new “YONO US Portal”) 15 INB OTP unlock Request Mail*, Email from registered Email address 16 Addition / deletion of joint holders (Individual consumers) Mail*, Online Banking secure message (signed requests) 17 Designation of beneficiary (DOB) (Individual consumers) Mail*,Online Banking secure message (signed requests) 18. Balance confirmation (Individual consumers) Mail*, Online Banking secure message (signed requests) 19 Request for account statements/ CD safekeeping’s (if soft copy requested, to be sent through Zix secure- email)(Individual consumers) Mail*, Online Banking secure message (signed requests) 20 Request for interest certificates Mail*, Online Banking secure message
State Bank of India New York Customer Manual for Deposits 14 Type US Resident Non-US Resident Consumer accounts $5,000 $10,000 Accounts of Businesses $10,000 $10,000 f. Early Withdrawal Penalty: The principal amount of CD cannot usually be withdrawn before the maturity date, unless the Bank consents to the withdrawal as a special case. We may require that all holders of a joint account authorize a premature withdrawal of the principal from a CD account. Partial withdrawal is not permitted. The penalty for early withdrawals of CD is as follows: Term of Deposit No of Days for which Interest will be recovered 14 days 14 days 1 month to less than 1 year 30 days 1 year to less than 3 years 60 days 3 years to less than 5 years 120 days 5 years & over 180 days The penalty will be calculated at the same interest rate of the deposit. A penalty will not be charged if the premature withdrawal is caused by the death of the depositor or if the depositor is declared legally incompetent. g. Principal Protection: SBI New York Certificate of Deposit comes with “Principal Protection” feature. The penalty for early withdrawal would be limited up to the amount of interest paid / payable and will not result in reduction of the amount originally deposited. h. Renewal: If your CD is for a term of more than 30 days, we will send you a maturity notice not less than 14 days and not more than 30 days prior to the maturity date. No maturity notice will be sent for Certificate of Deposit with term of 30 days or less.
State Bank of India New York Customer Manual for Deposits 30 offices are collectively referred to as SBI-US in this Notice. What we do How does SBI–US protect my personal information? To protect your personal information from unauthorized access and use, we use security measures that comply with federal law. SBI-US has established physical, technological and procedural systems and controls for protecting the confidentiality of your personal information. SBI-US employees undergo training on protecting customer information. How does SBI–US collect my personal information? We collect your personal information, for example, when you Open an account or deposit money Pay your bills or apply for a loan Use your credit or debit card We also collect your personal information from credit bureaus. Why can't I limit all sharing? Federal law gives you the right to limit only Sharing for affiliates’ everyday business purposes- information about your creditworthiness Affiliates from using your information to market to you Sharing for non-affiliates to market to you State laws and individual companies may give you additional rights to limit sharing. See below for more on your rights under state law.
State Bank of India New York Customer Manual for Deposits 13 4.3. CERTIFICATE OF DEPOSIT (“CD”) A CD earns a fixed rate of interest when an amount of money (principal) is left on deposit with the Bank for a fixed period (a fixed number of days, months or years). After an account is opened, you may not make deposits into or withdraw from this account until the maturity date. Premature withdrawal of principal would attract a penalty. Refer to “Penalty for Early Withdrawal of Principal” (Section f). We offer CDs with maturities from 3 months to 5 years. Bank also accepts deposit for a tenor from 7 days to 3 months on a case to case basis. a. Interest Rate: The interest rate earned on a Certificate of Deposit will be a guaranteed fixed rate for the term of the CD. This rate is determined by the Bank, based on market conditions, at the time the account is opened or renewed. Presently we are not offering floating rate Certificate of Deposits. For current rate information, you may visit our website https://sbinewyork.statebank or call 212-521-3390. b. Annual Percentage Yield (APY): Our Certificates of Deposit are offered on simple interest (also called non-cumulative interest) and compound interest (also called cumulative interest) basis, depending upon your choice. For CDs with simple interest, there will not be any difference in the interest rate (also called Annual Percentage Rate, or APR) and the Annual Percentage Yield (APY). For CDs where interest is compounded, the Annual Percentage Yield measures the total amount of interest paid on the account in a year based on the interest rate and the frequency of compounding, which is quarterly. The interest is calculated on a 365 days basis. c. Compounding Period/Payment of Interest: If you choose to receive simple interest (non- cumulative) on your CD, you may opt to withdraw the interest at monthly/quarterly/half-yearly intervals, at the time of opening or renewing the CD, provided the deposit is for one year or more. For CDs of less than six months, the simple interest is paid at maturity. If you choose to receive compounded interest on your CD, interest will be compounded at quarterly intervals and will be paid along with the principal at the time of maturity. This option is only available for CDs of six months or higher maturities.
• Principal: The exact sum of money deposited in an account or the amount of money borrowed. • Right of Set-Off: Right to adjust any overdue debt from any other account held singly or jointly with us. • Substitute Check: means a paper reproduction of an original check that contains an image of the front and back of the original check, bears a MICR line, and is suitable for automated processing in the same manner as the original check. 7 Privacy Notice: FACTS WHAT DOES STATE BANK OF INDIA (SBI-US) DO WITH YOUR PERSONAL INFORMATION? Why? Financial companies choose how they share your personal information. Federal law gives consumers the right to limit some but not all sharing. Federal law also requires us to tell you how we collect, share, and protect your personal information. Please read this notice carefully to understand what we do. What? The types of personal information we collect and share depend on the product or service you have with us. This information can include: Social Security number and income Account balances and payment history Assets and debt When you are no longer our customer, we continue to share your information as described in this notice.
State Bank of India New York Customer Manual for Deposits 16 Maturity period of deposit Number of days for which interest will be recovered 1 year to less than 3 years 60 days 3 years to less than 5 years 120 days 5 years & over 180 days The penalty will be calculated at the same interest rate of the deposit. A penalty will not be charged in case the withdrawal is caused by death of the depositor or if the depositor is declared legally incompetent. Principal Protection: SBI New York Certificate of Deposit comes with the “Principal Protection” feature. The penalty for early withdrawal would be limited up to the amount of interest paid / payable and will not result in reduction of the amount originally deposited. g. Interest Payment Method: When opening the CD, you may opt to receive the periodic interest payments by any one of the following: • Through ACH/Wire transfer to your designated bank account • By an official check through regular mail • In your Checking or Money Market Deposit Account with us. h. Renewal: We will send you a maturity notice not less than 14 days and not more than 30 days prior to the maturity date. If we do not hear from you, and unless you had specifically advised us against automatic renewal when you opened the CD, we will automatically renew the CD after 10 calendar days, under the same product for a period of one year at the rate offered for one year term on the date the CD matured. In the absence of your instruction for disposal of the maturity proceeds (where automatic renewal option has been declined), the maturity amount will be placed in a non-interest bearing account. CDs that were automatically renewed have a ten- calendar-day grace period (including the date of maturity). During the grace period, you may withdraw the amount of your deposit without incurring a premature withdrawal penalty. However, no interest will be paid from the date of maturity until the date of such withdrawal. If you choose to renew your deposit, during this grace period of 10 days, from a date later than the date of maturity, no interest will be paid from the date of maturity until the date of such renewal. Please, however, note that written instructions for withdrawal should be received by us within the grace period. The instructions will be accepted through Secured Messaging on Internet Banking Portal/Mail/In person visits to the Bank. CDs that mature on Saturdays, Sundays or Federal holidays will be available for withdrawal on the next business day and interest will be paid until the maturity date. CDs may not be negotiated or transferred to another individual or corporation. Your existing CDs may also be renewed as Senior Citizen CD in case you fulfil the eligibility norms subject to receipt of written request to convert the CD into a Senior Citizen CD. Existing CDs will not be auto renewed as Senior Citizen CD even though you may fulfil the eligibility conditions.
d. Interest Payment Method: When opening the CD, you may opt to receive the periodic interest payments by any one of the following: • Through ACH/Wire transfer to your designated bank account • By an official check through regular mail • In your Checking or Money Market Deposit Account with us. If you opt to receive compounded interest (cumulative), we will pay you interest along with the principal at the time of maturity of the CD. e. Minimum Balance Requirement: The minimum amount required for each CD may vary for US resident depositors and those based outside the USA. It may also vary for consumer and accounts of businesses. Currently, the following are the minimum balances:
State Bank of India New York Customer Manual for Deposits 25 An explanation of why the substitute check you received is insufficient to confirm that you suffered a loss; and A copy of the substitute check [and/or] the following information to help us identify the substitute check: (identifying information, for example the check number, the name of the person to whom you wrote the check, the amount of the check). [Both a legible copy of the substitute check and the details are preferred for an early response from the Bank] 5. ADDITIONAL INFORMATION ON DEPOSIT ACCOUNTS 5.1 Designation of Beneficiary We have introduced the DOB (Designation of Beneficiary) facility for individual customers. The facility is available to both existing as well as new customers. You can also designate beneficiaries for your existing accounts with us. The DOB form is available on our website https://sbinewyork.statebank. Please read the FAQ below to understand the DOB facility. a) What is the total number of beneficiaries permitted? The total number of beneficiaries will be restricted to four (4). It is Bank’s policy to accept designations where all beneficiaries have equal shares. In the event a beneficiary pre- deceases the account holder(s) the surviving beneficiaries will be entitled to equal shares of the balance of the account.
State Bank of India New York Customer Manual for Deposits 15 CDs that were automatically renewed have a ten-calendar-day grace period (including the date of maturity). During the grace period, you may withdraw the amount of your deposit without incurring a premature withdrawal penalty. However, no interest will be paid from the date of maturity until the date of such withdrawal. If you choose to renew your deposit, during this grace period of 10 days, from a date later than the date of maturity, no interest will be paid from the date of maturity until the date of such renewal. Please, however, note that written instructions for withdrawal should be received by us within the grace period. The instructions will be accepted through Secured Messaging on Internet Banking Portal/Mail/In person visits to the Bank. CDs that mature on Saturdays, Sundays or Federal holidays will be available for withdrawal on the next business day and interest will be paid until the maturity date. CDs may not be negotiated or transferred to another individual or corporation. 4.3.1 Senior Citizen Certificate of Deposit This is a product variant of certificate of deposit specifically available to customers who are aged 60 years and above. These accounts can be either opened as Single or Joint deposits. In case of joint accounts, the primary account holder should meet the age eligibility criteria. We offer Senior Citizen CD with maturities from 1 year to 5 years. The product is available to US Citizens, Permanent Residents and Resident Aliens. In case of joint accounts, all the customers should be US Citizens, Permanent Residents or Resident aliens.
CATEGORIES OF CONSUMER ACCOUNTS A. Individual Accounts These are opened in the name of one person who is the only party who may authorize transactions in the account. B. Joint Accounts shall be opened with right of Survivorship Only : These are opened when two or more persons desire to have a common or joint account. These can be operated:  jointly by all the persons with right of survivorship only;  by any one of them;  In the event of death of any of the joint account holders, the balance will be available to the surviving account holder(s). All account holders must sign the application and specimen signature card. The Bank reserves the right to freeze or suspend the account if:  It receives a letter from any one of the account holders objecting to further transactions, or  It is made aware of a dispute.  In such an eventuality, all account holders will have to sign any instruction to the Bank. The Bank shall have the right to set off all funds in the account against any overdue debt, or to satisfy a judgment against any one of the joint account holders. C. Accounts in the Names of Minors (Only CD accounts are permitted) • Accounts can only be opened on behalf of minors by parents/natural guardian/a person appointed by the court. • These accounts are subject to New York Uniform Gifts to Minors Act under which the gift is irrevocable. • The SSN of the trustee or guardian and the minor is required on the application. • The guardian operates the account for the benefit of the minor until the latter attains the

Test Case

Question: What is the minimum balance requirement for a Senior Citizen CD?

Metric Baseline Score Current Score
answer_accuracy 0.00981997 0.01165049 (+0.00183052)
groundedness 0.90438452 0.90451050 (+0.00012598)
mean_answer_similarity 0.79470090 0.80401997 (+0.00931906)
mean_reciprocal_rank 1.00000000 1.00000000
min_answer_similarity 0.75952360 0.75952370 (+0.00000010)
model_failures 0.00000000 0.00000000
model_generation_failures 0.00000000 0.00000000
model_parse_failures 0.00000000 0.00000000
model_passes 1.00000000 1.00000000
model_retrieval_failures 0.00000000 0.00000000
precision_relevancy 0.87401663 0.88464038 (+0.01062375)
recall_relevancy 0.93223747 0.93223747
rouge_1 0.03738318 0.04395604 (+0.00657287)
rouge_2 0.01904762 0.02247191 (+0.00342429)
rouge_l 0.03738318 0.04395604 (+0.00657287)

Legend:

  • Metric : The evaluation metric name. Shown in bold red if the metric flipped between pass/fail status.
  • Baseline Score : The metric value for the baseline model. Shown in bold green if baseline won, red if lost.
  • Current Score : The metric value for the current model, followed by the delta from baseline in parentheses.
  • Delta Colors : Green = improvement, Orange = regression, Red = metric flipped to fail.
  • Winner Determination : For each metric, the winner is determined by comparing scores while considering the metric's directionality (higher is better vs. lower is better).
Baseline Result Current Result
Model claude-3-7-sonnet-20250219@h2ogpte claude-3-7-sonnet-20250219@h2ogpte
Question What is the minimum balance requirement for a Senior Citizen CD?
Expected answer $25,000
Actual Answer According to the document, the minimum balance requirement for a Senior Citizen Certificate of Deposit is USD 25,000. This is stated on page 15 of the "Customer Manual for Deposits" from State Bank of India New York, which specifically mentions "The minimum amount required for each CD will be USD 25,000. There is no maximum limit under the product." The Senior Citizen CD is a product variant specifically available to customers who are aged 60 years and above, and can be opened as either single or joint deposits. In case of joint accounts, the primary account holder must meet the age eligibility criteria. According to the document, the minimum balance requirement for a Senior Citizen Certificate of Deposit is USD 25,000. This information is found on page 15 of the "Customer Manual for Deposits" where it states: "d. Minimum Balance Requirement: The minimum amount required for each CD will be USD 25,000. There is no maximum limit under the product." The Senior Citizen CD is a product variant specifically available to customers who are aged 60 years and above, and is offered with maturities from 1 year to 5 years.
Retrieved Context
State Bank of India New York Customer Manual for Deposits 11 age or older. For every additional withdrawal or check beyond above mentioned number in a statement cycle, $5 will be recovered e. Restriction on the number of credits/deposits: No restriction. f. Availability of account statement and frequency of monthly statement: Account statements at monthly intervals will be provided. 4.2 Money Market Deposit (MMD) Account This is an interest-bearing account from which withdrawals can be made in accordance with certain prescribed restrictions. Tiered interest rate is available on money market accounts based on the balances available in the account. The minimum deposit required for opening an account is the minimum daily balance requirement for the account which is tabled below. The daily minimum balances required to be maintained to avoid monthly service charges are as follows: Consumer Account Business/ Associations US Resident Customer $2,500 $50,000 Non-US Resident Customer $25,000 $ 100,000 A minimum balance service charge as listed in our “Schedule of Fees & Charges” in this Manual will be imposed every month if the balance in the account falls below the required minimum during any day of a calendar month. If the balance is less than the amount required to be deducted as service charge, the so available balance will be treated as service charges and the account may be closed forthwith, with notice to the customer at the last available address in our records. No overdraft is permitted under any circumstances in this account. Any check presented with insufficient funds will be dishonored. Service charges are listed in our “Schedule of Fees & Charges” in this Manual. A Money Market Deposit Account for Non-US Resident consumer or business/association would be opened at the sole discretion of the Bank and as per its policy, either on the same terms and conditions as for U.S- resident customers or on mutually agreed terms and conditions. Monthly service charges are listed in our “Schedule of Fees & Charges” in this Manual. Early closure fees will apply if you close your account within three months of opening. Other Features of Money Market Deposit Accounts a. Interest Rate: Tiered interest rate is available on MMD accounts based on the balances available in account. Interest rate on these accounts may vary from time to time. The Bank reserves the right to change the rate at any time. There is no limitation as to the percentage amount the interest rate may vary. You may visit our website https://sbinewyork.statebank or call (212) 521-3200 for information on the current rate of interest. b. Payment of Interest: Interest will accrue on your day-end balance. Interest earned during the month will be credited to the account at the close of business on the last business day of the month and will be made available to you on the first business day of the following month. There is no minimum balance required to earn the stated annual percentage yield. For non-cash deposits made into your account (for example checks) interest begins to accrue no later than the business day we receive credit for the deposit of the non-cash items. If the account is closed during the middle of a
State Bank of India New York Customer Manual for Deposits 45 B. Service Fees & Charges Consumer Accounts Accounts of Business/ Associations Excess Transaction charges – Each transaction in Money Market Accounts in excess of 6 transfers or withdrawals or a combination of these in a statement period. $5 $5 Checks returned or paid against insufficient or unavailable funds # $10 $15 SCHEDULE OF FEES & CHARGES Minimum Balance Requirements & Service Charges Checking Account Money Market Account Consumer A/C Business/Associations Consumer A/c Business/Associations USA Resident Minimum daily balance 1,000 $ 20,000 $2,500 $ 50,000 Monthly service charge (if the balance falls below minimum on any day of the month) $15* (effective 01/01/2020) $ 50 $20* (effective 01/01/2020) $ 50 Non-USA Resident Minimum daily balance Opened at the sole discretion of the Bank and as per its Policy. Minimum balance is $10,000 Opened at the sole discretion of the Bank and as per its Policy. Minimum balance is $ 50,000 Opened at the sole discretion of the Bank and as per its Policy. Minimum balance is $ 25,000 Opened at the sole discretion of the Bank and as per its Policy. Minimum balance is $ 100,000 Monthly service charge (if the balance falls below minimum on any day of the month) $20* (effective 01/01/2020) $50 $25* (effective 01/01/2020) $50 Note : Consumer accounts = Accounts of natural persons
State Bank of India New York Customer Manual for Deposits 15 CDs that were automatically renewed have a ten-calendar-day grace period (including the date of maturity). During the grace period, you may withdraw the amount of your deposit without incurring a premature withdrawal penalty. However, no interest will be paid from the date of maturity until the date of such withdrawal. If you choose to renew your deposit, during this grace period of 10 days, from a date later than the date of maturity, no interest will be paid from the date of maturity until the date of such renewal. Please, however, note that written instructions for withdrawal should be received by us within the grace period. The instructions will be accepted through Secured Messaging on Internet Banking Portal/Mail/In person visits to the Bank. CDs that mature on Saturdays, Sundays or Federal holidays will be available for withdrawal on the next business day and interest will be paid until the maturity date. CDs may not be negotiated or transferred to another individual or corporation. 4.3.1 Senior Citizen Certificate of Deposit This is a product variant of certificate of deposit specifically available to customers who are aged 60 years and above. These accounts can be either opened as Single or Joint deposits. In case of joint accounts, the primary account holder should meet the age eligibility criteria. We offer Senior Citizen CD with maturities from 1 year to 5 years. The product is available to US Citizens, Permanent Residents and Resident Aliens. In case of joint accounts, all the customers should be US Citizens, Permanent Residents or Resident aliens.
State Bank of India New York Customer Manual for Deposits 28 • Certify: An act by which the Bank conveys that the check, so accepted, will be paid, if otherwise in order. The Bank is obligated to make payments for all checks certified by it. Your account will be debited with the amount, at the time of certifying the check. • Collateral: Any property /security pledged for use in repaying loans in case of default. • Compound/Compounding: The interest paid on the interest left behind on deposit in your account. • Consumer: A natural person who holds an account, primarily for personal, family or household purposes. • Daily Balance Method: This method applies a daily periodic rate to the principal in the account each day. • Double-Endorsed Check: A check with an endorsement in addition to the endorsement(s) of the original payee(s). • Electronic Fund Transfer: Any transfer of money initiated by electronic means to or from a bank account of a customer. • Interest Rate: This refers to the annual simple interest the account will earn. • Maturity: The end of the agreed period of time for which an account was opened (applicable to CD or loan accounts).
d. Minimum Balance Requirement: The minimum amount required for each CD will be USD 25,000. There is no maximum limit under the product. e. Early Withdrawal Penalty: All premature withdrawals incur a penalty as mentioned below. Partial withdrawal is not permitted.
State Bank of India New York Customer Manual for Deposits 13 4.3. CERTIFICATE OF DEPOSIT (“CD”) A CD earns a fixed rate of interest when an amount of money (principal) is left on deposit with the Bank for a fixed period (a fixed number of days, months or years). After an account is opened, you may not make deposits into or withdraw from this account until the maturity date. Premature withdrawal of principal would attract a penalty. Refer to “Penalty for Early Withdrawal of Principal” (Section f). We offer CDs with maturities from 3 months to 5 years. Bank also accepts deposit for a tenor from 7 days to 3 months on a case to case basis. a. Interest Rate: The interest rate earned on a Certificate of Deposit will be a guaranteed fixed rate for the term of the CD. This rate is determined by the Bank, based on market conditions, at the time the account is opened or renewed. Presently we are not offering floating rate Certificate of Deposits. For current rate information, you may visit our website https://sbinewyork.statebank or call 212-521-3390. b. Annual Percentage Yield (APY): Our Certificates of Deposit are offered on simple interest (also called non-cumulative interest) and compound interest (also called cumulative interest) basis, depending upon your choice. For CDs with simple interest, there will not be any difference in the interest rate (also called Annual Percentage Rate, or APR) and the Annual Percentage Yield (APY). For CDs where interest is compounded, the Annual Percentage Yield measures the total amount of interest paid on the account in a year based on the interest rate and the frequency of compounding, which is quarterly. The interest is calculated on a 365 days basis. c. Compounding Period/Payment of Interest: If you choose to receive simple interest (non- cumulative) on your CD, you may opt to withdraw the interest at monthly/quarterly/half-yearly intervals, at the time of opening or renewing the CD, provided the deposit is for one year or more. For CDs of less than six months, the simple interest is paid at maturity. If you choose to receive compounded interest on your CD, interest will be compounded at quarterly intervals and will be paid along with the principal at the time of maturity. This option is only available for CDs of six months or higher maturities.
State Bank of India New York Customer Manual for Deposits 14 Type US Resident Non-US Resident Consumer accounts $5,000 $10,000 Accounts of Businesses $10,000 $10,000 f. Early Withdrawal Penalty: The principal amount of CD cannot usually be withdrawn before the maturity date, unless the Bank consents to the withdrawal as a special case. We may require that all holders of a joint account authorize a premature withdrawal of the principal from a CD account. Partial withdrawal is not permitted. The penalty for early withdrawals of CD is as follows: Term of Deposit No of Days for which Interest will be recovered 14 days 14 days 1 month to less than 1 year 30 days 1 year to less than 3 years 60 days 3 years to less than 5 years 120 days 5 years & over 180 days The penalty will be calculated at the same interest rate of the deposit. A penalty will not be charged if the premature withdrawal is caused by the death of the depositor or if the depositor is declared legally incompetent. g. Principal Protection: SBI New York Certificate of Deposit comes with “Principal Protection” feature. The penalty for early withdrawal would be limited up to the amount of interest paid / payable and will not result in reduction of the amount originally deposited. h. Renewal: If your CD is for a term of more than 30 days, we will send you a maturity notice not less than 14 days and not more than 30 days prior to the maturity date. No maturity notice will be sent for Certificate of Deposit with term of 30 days or less.
State Bank of India New York Customer Manual for Deposits 57 charges applicable from time to time. The Bank shall be entitled to terminate the Card with immediate effect without notice and the Card shall be returned upon the occurrence of any of the following events: 1. Card Holders Holder’s failure to comply with the terms and conditions herein. 2. The Card Holder’s default under an agreement or commitment entered into with the Bank. 3. The Card Holder becomes the subject of any bankruptcy, insolvency proceedings or proceedings of the similar nature. 4. Demise of the Cardholder. 5. Failure to maintain minimum required balance to cover transactions.
State Bank of India New York Customer Manual for Deposits 21 l. Charges: We reserve the right to charge your account in accordance with the “Schedule of Fees & Charges” in circumstances such as, but not limited to, the following: • If a check deposited by you has been returned unpaid. • If there are insufficient funds in your account to cover a check you have issued. • If you use a service that involves a fee or a charge, e.g., issue of official checks or recovery of charges by a bank through which a wire transfer has been sent. • If there is a monthly service charge due to non-maintenance of minimum balance. • If we are required to comply with any legal process in connection with your account. • If you desire stop payment of a check. • If a postdated check written by you has been returned unpaid. • If we confirm the balance in your account to a third party under your authorization. • If you desire us to furnish credit information related to your account. • If you desire copies of your records. • If you give us a standing instruction. The Bank will not be responsible if it refuses to pay a check you have issued if there are not enough funds in the account after we have deducted a service charge.
State Bank of India New York Customer Manual for Deposits 10 Consumer Account Business/ Associations US Resident $1,000 $20,000 Non- US Resident $10,000 $50,000 A minimum balance service charge as listed in our “Schedule of Fees & Charges” in this Manual will be imposed every month if the balance in the account falls below the required minimum during any day of a calendar month. If the balance is less than the amount required to be deducted as a service charge, the available balance will be treated as service charges and the account may be closed forthwith, with notice to the customer at the last available address in our records. A checking account for a Non US resident consumer or business/association will be opened at the sole discretion of the Bank and as per its policy, either on the same terms and conditions as for U.S.-resident customers or on separate terms and conditions. No overdraft is permitted under any circumstances in this account. Any check presented with insufficient funds will be dishonored. Service charges are listed in our “Schedule of Fees & Charges” in this Manual. Early closure fees will apply if you close your account within three months of opening. The Bank will provide a statement of account at monthly intervals. 4.1.1 Basic Checking Account In order to provide low cost banking services, we offer “basic banking” checking accounts to all consumers who fulfill the following requirements: • Residents of New York State. • The consumer is required to close all other transaction accounts with our Bank or any other banking institution and will be given a period of 60 days (from the date the basic banking account is opened) to do so. If other transaction account/s is/are not closed within 60 days, the said basic checking account shall be closed by the Bank. • Receive direct credit of a recurring payment such as Social Security, wages or pension payments. • Have limited monthly transactions. • Desire basic checking services. Salient Features of Basic Checking Accounts a. Minimum deposit to open the account: $25. b. Minimum monthly balance required to be maintained: No minimum balance. c. Monthly maintenance fee: i) Nil, if the daily balance is $500 or more. ii) Otherwise $3 per month.
d. Minimum Balance Requirement: The minimum amount required for each CD will be USD 25,000. There is no maximum limit under the product. e. Early Withdrawal Penalty: All premature withdrawals incur a penalty as mentioned below. Partial withdrawal is not permitted.
d. Interest Payment Method: When opening the CD, you may opt to receive the periodic interest payments by any one of the following: • Through ACH/Wire transfer to your designated bank account • By an official check through regular mail • In your Checking or Money Market Deposit Account with us. If you opt to receive compounded interest (cumulative), we will pay you interest along with the principal at the time of maturity of the CD. e. Minimum Balance Requirement: The minimum amount required for each CD may vary for US resident depositors and those based outside the USA. It may also vary for consumer and accounts of businesses. Currently, the following are the minimum balances:
State Bank of India New York Customer Manual for Deposits 15 CDs that were automatically renewed have a ten-calendar-day grace period (including the date of maturity). During the grace period, you may withdraw the amount of your deposit without incurring a premature withdrawal penalty. However, no interest will be paid from the date of maturity until the date of such withdrawal. If you choose to renew your deposit, during this grace period of 10 days, from a date later than the date of maturity, no interest will be paid from the date of maturity until the date of such renewal. Please, however, note that written instructions for withdrawal should be received by us within the grace period. The instructions will be accepted through Secured Messaging on Internet Banking Portal/Mail/In person visits to the Bank. CDs that mature on Saturdays, Sundays or Federal holidays will be available for withdrawal on the next business day and interest will be paid until the maturity date. CDs may not be negotiated or transferred to another individual or corporation. 4.3.1 Senior Citizen Certificate of Deposit This is a product variant of certificate of deposit specifically available to customers who are aged 60 years and above. These accounts can be either opened as Single or Joint deposits. In case of joint accounts, the primary account holder should meet the age eligibility criteria. We offer Senior Citizen CD with maturities from 1 year to 5 years. The product is available to US Citizens, Permanent Residents and Resident Aliens. In case of joint accounts, all the customers should be US Citizens, Permanent Residents or Resident aliens.
a. Interest Rate: The interest rate earned on a Senior Citizen Certificate of Deposit will earn fixed rate for the term of the CD. This rate is determined by the Bank, based on market conditions, at the time the account is opened or renewed. For current rate information, you may visit our website https://sbinewyork.statebank or call (212) 521-3390 b. Annual Percentage Yield (APY): Senior Citizen Certificate of Deposit is offered on simple interest (also called non-cumulative interest) and compound interest (also called cumulative interest) basis, depending upon your choice. In case of simple interest, the Annual Percentage Rate(APR) and Annual Percentage Yield would be the same. In case of compound interest, APY measures the total amount of interest paid on the account in a year based on the interest rate and the frequency of compounding is quarterly. The interest is calculated on a 365 days basis. c. Compounding Period/Payment of Interest: If you choose to receive simple interest (non- cumulative) on your CD, you may opt to withdraw the interest at monthly/quarterly/half-yearly intervals, at the time of opening or renewing the CD. If you choose to receive compounded interest on your CD, interest will be compounded at quarterly intervals and will be paid along with the principal at the time of maturity.
3.5 Limited Liability Company (“LLC”) The following documents are required:  The LLC’s organizational documents (Articles of Organization and Operating Agreement)  The names of all the members and managers of the LLC shall be provided with all the same identification as required for corporations above.  A certified copy of a resolution of the Managers of the LLC providing all the same information required in the corporate resolution set forth above.  Certificate of Beneficial owners, wherever applicable. 4. TYPES OF ACCOUNTS Three types of deposit accounts may be opened:  Checking Account  Money Market Deposit (MMD) Account  Certificate of Deposit (CD) Account 4.1 Checking Account This is a non-interest bearing account with no restrictions on the number of withdrawals or credits. However, Bank has the discretion to pay interest on a product variant. The minimum deposit required for opening an account is the minimum daily balance requirement for the account which is tabled below. The daily minimum balance required to be maintained to avoid monthly service charges are as follows:
State Bank of India New York Customer Manual for Deposits 13 4.3. CERTIFICATE OF DEPOSIT (“CD”) A CD earns a fixed rate of interest when an amount of money (principal) is left on deposit with the Bank for a fixed period (a fixed number of days, months or years). After an account is opened, you may not make deposits into or withdraw from this account until the maturity date. Premature withdrawal of principal would attract a penalty. Refer to “Penalty for Early Withdrawal of Principal” (Section f). We offer CDs with maturities from 3 months to 5 years. Bank also accepts deposit for a tenor from 7 days to 3 months on a case to case basis. a. Interest Rate: The interest rate earned on a Certificate of Deposit will be a guaranteed fixed rate for the term of the CD. This rate is determined by the Bank, based on market conditions, at the time the account is opened or renewed. Presently we are not offering floating rate Certificate of Deposits. For current rate information, you may visit our website https://sbinewyork.statebank or call 212-521-3390. b. Annual Percentage Yield (APY): Our Certificates of Deposit are offered on simple interest (also called non-cumulative interest) and compound interest (also called cumulative interest) basis, depending upon your choice. For CDs with simple interest, there will not be any difference in the interest rate (also called Annual Percentage Rate, or APR) and the Annual Percentage Yield (APY). For CDs where interest is compounded, the Annual Percentage Yield measures the total amount of interest paid on the account in a year based on the interest rate and the frequency of compounding, which is quarterly. The interest is calculated on a 365 days basis. c. Compounding Period/Payment of Interest: If you choose to receive simple interest (non- cumulative) on your CD, you may opt to withdraw the interest at monthly/quarterly/half-yearly intervals, at the time of opening or renewing the CD, provided the deposit is for one year or more. For CDs of less than six months, the simple interest is paid at maturity. If you choose to receive compounded interest on your CD, interest will be compounded at quarterly intervals and will be paid along with the principal at the time of maturity. This option is only available for CDs of six months or higher maturities.
State Bank of India New York Customer Manual for Deposits 45 B. Service Fees & Charges Consumer Accounts Accounts of Business/ Associations Excess Transaction charges – Each transaction in Money Market Accounts in excess of 6 transfers or withdrawals or a combination of these in a statement period. $5 $5 Checks returned or paid against insufficient or unavailable funds # $10 $15 SCHEDULE OF FEES & CHARGES Minimum Balance Requirements & Service Charges Checking Account Money Market Account Consumer A/C Business/Associations Consumer A/c Business/Associations USA Resident Minimum daily balance 1,000 $ 20,000 $2,500 $ 50,000 Monthly service charge (if the balance falls below minimum on any day of the month) $15* (effective 01/01/2020) $ 50 $20* (effective 01/01/2020) $ 50 Non-USA Resident Minimum daily balance Opened at the sole discretion of the Bank and as per its Policy. Minimum balance is $10,000 Opened at the sole discretion of the Bank and as per its Policy. Minimum balance is $ 50,000 Opened at the sole discretion of the Bank and as per its Policy. Minimum balance is $ 25,000 Opened at the sole discretion of the Bank and as per its Policy. Minimum balance is $ 100,000 Monthly service charge (if the balance falls below minimum on any day of the month) $20* (effective 01/01/2020) $50 $25* (effective 01/01/2020) $50 Note : Consumer accounts = Accounts of natural persons
If we do not hear from you, and unless you had specifically advised us against automatic renewal when you opened the CD, 1. We will automatically renew the CD (principal and earned interest) for a period of one year at the rate offered for one year term on the date the CD matured for CDs having maturity of 1 year or more. 2. For CDs of lower tenor, the CD shall be auto-rolled over for original tenor. In the absence of your instruction for disposal of the maturity proceeds (where automatic renewal option has been declined), the maturity amount will be placed in a non-interest bearing account.
State Bank of India New York Customer Manual for Deposits 16 Maturity period of deposit Number of days for which interest will be recovered 1 year to less than 3 years 60 days 3 years to less than 5 years 120 days 5 years & over 180 days The penalty will be calculated at the same interest rate of the deposit. A penalty will not be charged in case the withdrawal is caused by death of the depositor or if the depositor is declared legally incompetent. Principal Protection: SBI New York Certificate of Deposit comes with the “Principal Protection” feature. The penalty for early withdrawal would be limited up to the amount of interest paid / payable and will not result in reduction of the amount originally deposited. g. Interest Payment Method: When opening the CD, you may opt to receive the periodic interest payments by any one of the following: • Through ACH/Wire transfer to your designated bank account • By an official check through regular mail • In your Checking or Money Market Deposit Account with us. h. Renewal: We will send you a maturity notice not less than 14 days and not more than 30 days prior to the maturity date. If we do not hear from you, and unless you had specifically advised us against automatic renewal when you opened the CD, we will automatically renew the CD after 10 calendar days, under the same product for a period of one year at the rate offered for one year term on the date the CD matured. In the absence of your instruction for disposal of the maturity proceeds (where automatic renewal option has been declined), the maturity amount will be placed in a non-interest bearing account. CDs that were automatically renewed have a ten- calendar-day grace period (including the date of maturity). During the grace period, you may withdraw the amount of your deposit without incurring a premature withdrawal penalty. However, no interest will be paid from the date of maturity until the date of such withdrawal. If you choose to renew your deposit, during this grace period of 10 days, from a date later than the date of maturity, no interest will be paid from the date of maturity until the date of such renewal. Please, however, note that written instructions for withdrawal should be received by us within the grace period. The instructions will be accepted through Secured Messaging on Internet Banking Portal/Mail/In person visits to the Bank. CDs that mature on Saturdays, Sundays or Federal holidays will be available for withdrawal on the next business day and interest will be paid until the maturity date. CDs may not be negotiated or transferred to another individual or corporation. Your existing CDs may also be renewed as Senior Citizen CD in case you fulfil the eligibility norms subject to receipt of written request to convert the CD into a Senior Citizen CD. Existing CDs will not be auto renewed as Senior Citizen CD even though you may fulfil the eligibility conditions.
State Bank of India New York Customer Manual for Deposits 11 age or older. For every additional withdrawal or check beyond above mentioned number in a statement cycle, $5 will be recovered e. Restriction on the number of credits/deposits: No restriction. f. Availability of account statement and frequency of monthly statement: Account statements at monthly intervals will be provided. 4.2 Money Market Deposit (MMD) Account This is an interest-bearing account from which withdrawals can be made in accordance with certain prescribed restrictions. Tiered interest rate is available on money market accounts based on the balances available in the account. The minimum deposit required for opening an account is the minimum daily balance requirement for the account which is tabled below. The daily minimum balances required to be maintained to avoid monthly service charges are as follows: Consumer Account Business/ Associations US Resident Customer $2,500 $50,000 Non-US Resident Customer $25,000 $ 100,000 A minimum balance service charge as listed in our “Schedule of Fees & Charges” in this Manual will be imposed every month if the balance in the account falls below the required minimum during any day of a calendar month. If the balance is less than the amount required to be deducted as service charge, the so available balance will be treated as service charges and the account may be closed forthwith, with notice to the customer at the last available address in our records. No overdraft is permitted under any circumstances in this account. Any check presented with insufficient funds will be dishonored. Service charges are listed in our “Schedule of Fees & Charges” in this Manual. A Money Market Deposit Account for Non-US Resident consumer or business/association would be opened at the sole discretion of the Bank and as per its policy, either on the same terms and conditions as for U.S- resident customers or on mutually agreed terms and conditions. Monthly service charges are listed in our “Schedule of Fees & Charges” in this Manual. Early closure fees will apply if you close your account within three months of opening. Other Features of Money Market Deposit Accounts a. Interest Rate: Tiered interest rate is available on MMD accounts based on the balances available in account. Interest rate on these accounts may vary from time to time. The Bank reserves the right to change the rate at any time. There is no limitation as to the percentage amount the interest rate may vary. You may visit our website https://sbinewyork.statebank or call (212) 521-3200 for information on the current rate of interest. b. Payment of Interest: Interest will accrue on your day-end balance. Interest earned during the month will be credited to the account at the close of business on the last business day of the month and will be made available to you on the first business day of the following month. There is no minimum balance required to earn the stated annual percentage yield. For non-cash deposits made into your account (for example checks) interest begins to accrue no later than the business day we receive credit for the deposit of the non-cash items. If the account is closed during the middle of a

Test Case

Question: What is the grace period for a Senior Citizen CD?

Metric Baseline Score Current Score
answer_accuracy 0.73978033 0.73302060 (-0.00675973)
groundedness 0.90337299 0.90337299
mean_answer_similarity 0.82633099 0.82547459 (-0.00085640)
mean_reciprocal_rank 1.00000000 1.00000000
min_answer_similarity 0.73978033 0.73302060 (-0.00675973)
model_failures 0.00000000 0.00000000
model_generation_failures 0.00000000 0.00000000
model_parse_failures 0.00000000 0.00000000
model_passes 1.00000000 1.00000000
model_retrieval_failures 0.00000000 0.00000000
precision_relevancy 0.85909818 0.85909818
recall_relevancy 0.91858084 0.91858084
rouge_1 0.18888889 0.17989418 (-0.00899471)
rouge_2 0.17977528 0.17112299 (-0.00865229)
rouge_l 0.18888889 0.17989418 (-0.00899471)

Legend:

  • Metric : The evaluation metric name. Shown in bold red if the metric flipped between pass/fail status.
  • Baseline Score : The metric value for the baseline model. Shown in bold green if baseline won, red if lost.
  • Current Score : The metric value for the current model, followed by the delta from baseline in parentheses.
  • Delta Colors : Green = improvement, Orange = regression, Red = metric flipped to fail.
  • Winner Determination : For each metric, the winner is determined by comparing scores while considering the metric's directionality (higher is better vs. lower is better).
Baseline Result Current Result
Model claude-3-7-sonnet-20250219@h2ogpte claude-3-7-sonnet-20250219@h2ogpte
Question What is the grace period for a Senior Citizen CD?
Expected answer CDs that were automatically renewed have a ten-calendar-day grace period (including the date of maturity).
Actual Answer According to the document, the grace period for a Senior Citizen CD is ten calendar days (including the date of maturity). This is stated on page 16 of the Customer Manual for Deposits, which explains that "CDs that were automatically renewed have a ten-calendar-day grace period (including the date of maturity)." During this grace period, customers may withdraw the amount of their deposit without incurring a premature withdrawal penalty. However, no interest will be paid from the date of maturity until the date of such withdrawal. If a customer chooses to renew their deposit during this 10-day grace period from a date later than the maturity date, no interest will be paid from the date of maturity until the date of renewal. Written instructions for withdrawal should be received by the bank within the grace period, and these instructions can be accepted through Secured Messaging on the Internet Banking Portal, by mail, or through in-person visits to the Bank. According to the document, the grace period for a Senior Citizen CD is ten calendar days (including the date of maturity). This is mentioned on page 16 of the Customer Manual for Deposits, which states: "CDs that were automatically renewed have a ten-calendar-day grace period (including the date of maturity). During the grace period, you may withdraw the amount of your deposit without incurring a premature withdrawal penalty. However, no interest will be paid from the date of maturity until the date of such withdrawal." The same information is also provided on page 15, confirming that if you choose to renew your deposit during this 10-day grace period from a date later than the maturity date, no interest will be paid from the date of maturity until the date of renewal. Written instructions for withdrawal should be received by the bank within the grace period, and these instructions can be submitted through Secured Messaging on the Internet Banking Portal, by mail, or through in-person visits to the Bank.
Retrieved Context
d. Interest Payment Method: When opening the CD, you may opt to receive the periodic interest payments by any one of the following: • Through ACH/Wire transfer to your designated bank account • By an official check through regular mail • In your Checking or Money Market Deposit Account with us. If you opt to receive compounded interest (cumulative), we will pay you interest along with the principal at the time of maturity of the CD. e. Minimum Balance Requirement: The minimum amount required for each CD may vary for US resident depositors and those based outside the USA. It may also vary for consumer and accounts of businesses. Currently, the following are the minimum balances:
a. Interest Rate: The interest rate earned on a Senior Citizen Certificate of Deposit will earn fixed rate for the term of the CD. This rate is determined by the Bank, based on market conditions, at the time the account is opened or renewed. For current rate information, you may visit our website https://sbinewyork.statebank or call (212) 521-3390 b. Annual Percentage Yield (APY): Senior Citizen Certificate of Deposit is offered on simple interest (also called non-cumulative interest) and compound interest (also called cumulative interest) basis, depending upon your choice. In case of simple interest, the Annual Percentage Rate(APR) and Annual Percentage Yield would be the same. In case of compound interest, APY measures the total amount of interest paid on the account in a year based on the interest rate and the frequency of compounding is quarterly. The interest is calculated on a 365 days basis. c. Compounding Period/Payment of Interest: If you choose to receive simple interest (non- cumulative) on your CD, you may opt to withdraw the interest at monthly/quarterly/half-yearly intervals, at the time of opening or renewing the CD. If you choose to receive compounded interest on your CD, interest will be compounded at quarterly intervals and will be paid along with the principal at the time of maturity.
If we do not hear from you, and unless you had specifically advised us against automatic renewal when you opened the CD, 1. We will automatically renew the CD (principal and earned interest) for a period of one year at the rate offered for one year term on the date the CD matured for CDs having maturity of 1 year or more. 2. For CDs of lower tenor, the CD shall be auto-rolled over for original tenor. In the absence of your instruction for disposal of the maturity proceeds (where automatic renewal option has been declined), the maturity amount will be placed in a non-interest bearing account.
State Bank of India New York Customer Manual for Deposits 15 CDs that were automatically renewed have a ten-calendar-day grace period (including the date of maturity). During the grace period, you may withdraw the amount of your deposit without incurring a premature withdrawal penalty. However, no interest will be paid from the date of maturity until the date of such withdrawal. If you choose to renew your deposit, during this grace period of 10 days, from a date later than the date of maturity, no interest will be paid from the date of maturity until the date of such renewal. Please, however, note that written instructions for withdrawal should be received by us within the grace period. The instructions will be accepted through Secured Messaging on Internet Banking Portal/Mail/In person visits to the Bank. CDs that mature on Saturdays, Sundays or Federal holidays will be available for withdrawal on the next business day and interest will be paid until the maturity date. CDs may not be negotiated or transferred to another individual or corporation. 4.3.1 Senior Citizen Certificate of Deposit This is a product variant of certificate of deposit specifically available to customers who are aged 60 years and above. These accounts can be either opened as Single or Joint deposits. In case of joint accounts, the primary account holder should meet the age eligibility criteria. We offer Senior Citizen CD with maturities from 1 year to 5 years. The product is available to US Citizens, Permanent Residents and Resident Aliens. In case of joint accounts, all the customers should be US Citizens, Permanent Residents or Resident aliens.
• Principal: The exact sum of money deposited in an account or the amount of money borrowed. • Right of Set-Off: Right to adjust any overdue debt from any other account held singly or jointly with us. • Substitute Check: means a paper reproduction of an original check that contains an image of the front and back of the original check, bears a MICR line, and is suitable for automated processing in the same manner as the original check. 7 Privacy Notice: FACTS WHAT DOES STATE BANK OF INDIA (SBI-US) DO WITH YOUR PERSONAL INFORMATION? Why? Financial companies choose how they share your personal information. Federal law gives consumers the right to limit some but not all sharing. Federal law also requires us to tell you how we collect, share, and protect your personal information. Please read this notice carefully to understand what we do. What? The types of personal information we collect and share depend on the product or service you have with us. This information can include: Social Security number and income Account balances and payment history Assets and debt When you are no longer our customer, we continue to share your information as described in this notice.
State Bank of India New York Customer Manual for Deposits 14 Type US Resident Non-US Resident Consumer accounts $5,000 $10,000 Accounts of Businesses $10,000 $10,000 f. Early Withdrawal Penalty: The principal amount of CD cannot usually be withdrawn before the maturity date, unless the Bank consents to the withdrawal as a special case. We may require that all holders of a joint account authorize a premature withdrawal of the principal from a CD account. Partial withdrawal is not permitted. The penalty for early withdrawals of CD is as follows: Term of Deposit No of Days for which Interest will be recovered 14 days 14 days 1 month to less than 1 year 30 days 1 year to less than 3 years 60 days 3 years to less than 5 years 120 days 5 years & over 180 days The penalty will be calculated at the same interest rate of the deposit. A penalty will not be charged if the premature withdrawal is caused by the death of the depositor or if the depositor is declared legally incompetent. g. Principal Protection: SBI New York Certificate of Deposit comes with “Principal Protection” feature. The penalty for early withdrawal would be limited up to the amount of interest paid / payable and will not result in reduction of the amount originally deposited. h. Renewal: If your CD is for a term of more than 30 days, we will send you a maturity notice not less than 14 days and not more than 30 days prior to the maturity date. No maturity notice will be sent for Certificate of Deposit with term of 30 days or less.
CATEGORIES OF CONSUMER ACCOUNTS A. Individual Accounts These are opened in the name of one person who is the only party who may authorize transactions in the account. B. Joint Accounts shall be opened with right of Survivorship Only : These are opened when two or more persons desire to have a common or joint account. These can be operated:  jointly by all the persons with right of survivorship only;  by any one of them;  In the event of death of any of the joint account holders, the balance will be available to the surviving account holder(s). All account holders must sign the application and specimen signature card. The Bank reserves the right to freeze or suspend the account if:  It receives a letter from any one of the account holders objecting to further transactions, or  It is made aware of a dispute.  In such an eventuality, all account holders will have to sign any instruction to the Bank. The Bank shall have the right to set off all funds in the account against any overdue debt, or to satisfy a judgment against any one of the joint account holders. C. Accounts in the Names of Minors (Only CD accounts are permitted) • Accounts can only be opened on behalf of minors by parents/natural guardian/a person appointed by the court. • These accounts are subject to New York Uniform Gifts to Minors Act under which the gift is irrevocable. • The SSN of the trustee or guardian and the minor is required on the application. • The guardian operates the account for the benefit of the minor until the latter attains the
State Bank of India New York Customer Manual for Deposits 13 4.3. CERTIFICATE OF DEPOSIT (“CD”) A CD earns a fixed rate of interest when an amount of money (principal) is left on deposit with the Bank for a fixed period (a fixed number of days, months or years). After an account is opened, you may not make deposits into or withdraw from this account until the maturity date. Premature withdrawal of principal would attract a penalty. Refer to “Penalty for Early Withdrawal of Principal” (Section f). We offer CDs with maturities from 3 months to 5 years. Bank also accepts deposit for a tenor from 7 days to 3 months on a case to case basis. a. Interest Rate: The interest rate earned on a Certificate of Deposit will be a guaranteed fixed rate for the term of the CD. This rate is determined by the Bank, based on market conditions, at the time the account is opened or renewed. Presently we are not offering floating rate Certificate of Deposits. For current rate information, you may visit our website https://sbinewyork.statebank or call 212-521-3390. b. Annual Percentage Yield (APY): Our Certificates of Deposit are offered on simple interest (also called non-cumulative interest) and compound interest (also called cumulative interest) basis, depending upon your choice. For CDs with simple interest, there will not be any difference in the interest rate (also called Annual Percentage Rate, or APR) and the Annual Percentage Yield (APY). For CDs where interest is compounded, the Annual Percentage Yield measures the total amount of interest paid on the account in a year based on the interest rate and the frequency of compounding, which is quarterly. The interest is calculated on a 365 days basis. c. Compounding Period/Payment of Interest: If you choose to receive simple interest (non- cumulative) on your CD, you may opt to withdraw the interest at monthly/quarterly/half-yearly intervals, at the time of opening or renewing the CD, provided the deposit is for one year or more. For CDs of less than six months, the simple interest is paid at maturity. If you choose to receive compounded interest on your CD, interest will be compounded at quarterly intervals and will be paid along with the principal at the time of maturity. This option is only available for CDs of six months or higher maturities.
k. Account Discrepancies: You must examine your statement of account and paid checks promptly and notify the Bank within 14 days, from the date of receipt of statement, of any discrepancies. If the discrepancy concerns an electronic funds transfer (e.g., Social Security credits, debit card or ACH transactions), then this notification should be made within 60 days of the Bank’s transmittal of the statement. If we do not hear from you within this period, we will assume that the statement is correct. Failure to examine your monthly statement and not reporting discrepancies to the Bank may also adversely affect your legal rights. For example, if you fail to notify us promptly on a forged check, you may lose your right to be reimbursed for a similar forgery, should one occur later. The Bank shall have the right to debit your accounts to recover any funds erroneously credited and to make good any shortfall from any other account you may have with us. Your accounts could be debited for any improper Government payments received by the Bank. If there is still a shortfall, you agree to repay us the amount owing. Interest paid on the erroneous credit will also be recovered. Further the Bank shall have right to recover funds from you if your account does not have sufficient funds to honor a pre-approved transaction done at a Merchant Establishment using your debit card or on account of other such transactions done using your debit card. Any two occurrences of your account having in-sufficient funds to cover a pre-approved/ authorized debit card transaction will lead to closure of your account and cancellation of the linked debit card facility. For account discrepancies you may call us at (212) 521-3283/ 3318 / 3286.
State Bank of India New York Customer Manual for Deposits 16 Maturity period of deposit Number of days for which interest will be recovered 1 year to less than 3 years 60 days 3 years to less than 5 years 120 days 5 years & over 180 days The penalty will be calculated at the same interest rate of the deposit. A penalty will not be charged in case the withdrawal is caused by death of the depositor or if the depositor is declared legally incompetent. Principal Protection: SBI New York Certificate of Deposit comes with the “Principal Protection” feature. The penalty for early withdrawal would be limited up to the amount of interest paid / payable and will not result in reduction of the amount originally deposited. g. Interest Payment Method: When opening the CD, you may opt to receive the periodic interest payments by any one of the following: • Through ACH/Wire transfer to your designated bank account • By an official check through regular mail • In your Checking or Money Market Deposit Account with us. h. Renewal: We will send you a maturity notice not less than 14 days and not more than 30 days prior to the maturity date. If we do not hear from you, and unless you had specifically advised us against automatic renewal when you opened the CD, we will automatically renew the CD after 10 calendar days, under the same product for a period of one year at the rate offered for one year term on the date the CD matured. In the absence of your instruction for disposal of the maturity proceeds (where automatic renewal option has been declined), the maturity amount will be placed in a non-interest bearing account. CDs that were automatically renewed have a ten- calendar-day grace period (including the date of maturity). During the grace period, you may withdraw the amount of your deposit without incurring a premature withdrawal penalty. However, no interest will be paid from the date of maturity until the date of such withdrawal. If you choose to renew your deposit, during this grace period of 10 days, from a date later than the date of maturity, no interest will be paid from the date of maturity until the date of such renewal. Please, however, note that written instructions for withdrawal should be received by us within the grace period. The instructions will be accepted through Secured Messaging on Internet Banking Portal/Mail/In person visits to the Bank. CDs that mature on Saturdays, Sundays or Federal holidays will be available for withdrawal on the next business day and interest will be paid until the maturity date. CDs may not be negotiated or transferred to another individual or corporation. Your existing CDs may also be renewed as Senior Citizen CD in case you fulfil the eligibility norms subject to receipt of written request to convert the CD into a Senior Citizen CD. Existing CDs will not be auto renewed as Senior Citizen CD even though you may fulfil the eligibility conditions.
d. Interest Payment Method: When opening the CD, you may opt to receive the periodic interest payments by any one of the following: • Through ACH/Wire transfer to your designated bank account • By an official check through regular mail • In your Checking or Money Market Deposit Account with us. If you opt to receive compounded interest (cumulative), we will pay you interest along with the principal at the time of maturity of the CD. e. Minimum Balance Requirement: The minimum amount required for each CD may vary for US resident depositors and those based outside the USA. It may also vary for consumer and accounts of businesses. Currently, the following are the minimum balances:
a. Interest Rate: The interest rate earned on a Senior Citizen Certificate of Deposit will earn fixed rate for the term of the CD. This rate is determined by the Bank, based on market conditions, at the time the account is opened or renewed. For current rate information, you may visit our website https://sbinewyork.statebank or call (212) 521-3390 b. Annual Percentage Yield (APY): Senior Citizen Certificate of Deposit is offered on simple interest (also called non-cumulative interest) and compound interest (also called cumulative interest) basis, depending upon your choice. In case of simple interest, the Annual Percentage Rate(APR) and Annual Percentage Yield would be the same. In case of compound interest, APY measures the total amount of interest paid on the account in a year based on the interest rate and the frequency of compounding is quarterly. The interest is calculated on a 365 days basis. c. Compounding Period/Payment of Interest: If you choose to receive simple interest (non- cumulative) on your CD, you may opt to withdraw the interest at monthly/quarterly/half-yearly intervals, at the time of opening or renewing the CD. If you choose to receive compounded interest on your CD, interest will be compounded at quarterly intervals and will be paid along with the principal at the time of maturity.
If we do not hear from you, and unless you had specifically advised us against automatic renewal when you opened the CD, 1. We will automatically renew the CD (principal and earned interest) for a period of one year at the rate offered for one year term on the date the CD matured for CDs having maturity of 1 year or more. 2. For CDs of lower tenor, the CD shall be auto-rolled over for original tenor. In the absence of your instruction for disposal of the maturity proceeds (where automatic renewal option has been declined), the maturity amount will be placed in a non-interest bearing account.
State Bank of India New York Customer Manual for Deposits 15 CDs that were automatically renewed have a ten-calendar-day grace period (including the date of maturity). During the grace period, you may withdraw the amount of your deposit without incurring a premature withdrawal penalty. However, no interest will be paid from the date of maturity until the date of such withdrawal. If you choose to renew your deposit, during this grace period of 10 days, from a date later than the date of maturity, no interest will be paid from the date of maturity until the date of such renewal. Please, however, note that written instructions for withdrawal should be received by us within the grace period. The instructions will be accepted through Secured Messaging on Internet Banking Portal/Mail/In person visits to the Bank. CDs that mature on Saturdays, Sundays or Federal holidays will be available for withdrawal on the next business day and interest will be paid until the maturity date. CDs may not be negotiated or transferred to another individual or corporation. 4.3.1 Senior Citizen Certificate of Deposit This is a product variant of certificate of deposit specifically available to customers who are aged 60 years and above. These accounts can be either opened as Single or Joint deposits. In case of joint accounts, the primary account holder should meet the age eligibility criteria. We offer Senior Citizen CD with maturities from 1 year to 5 years. The product is available to US Citizens, Permanent Residents and Resident Aliens. In case of joint accounts, all the customers should be US Citizens, Permanent Residents or Resident aliens.
State Bank of India New York Customer Manual for Deposits 16 Maturity period of deposit Number of days for which interest will be recovered 1 year to less than 3 years 60 days 3 years to less than 5 years 120 days 5 years & over 180 days The penalty will be calculated at the same interest rate of the deposit. A penalty will not be charged in case the withdrawal is caused by death of the depositor or if the depositor is declared legally incompetent. Principal Protection: SBI New York Certificate of Deposit comes with the “Principal Protection” feature. The penalty for early withdrawal would be limited up to the amount of interest paid / payable and will not result in reduction of the amount originally deposited. g. Interest Payment Method: When opening the CD, you may opt to receive the periodic interest payments by any one of the following: • Through ACH/Wire transfer to your designated bank account • By an official check through regular mail • In your Checking or Money Market Deposit Account with us. h. Renewal: We will send you a maturity notice not less than 14 days and not more than 30 days prior to the maturity date. If we do not hear from you, and unless you had specifically advised us against automatic renewal when you opened the CD, we will automatically renew the CD after 10 calendar days, under the same product for a period of one year at the rate offered for one year term on the date the CD matured. In the absence of your instruction for disposal of the maturity proceeds (where automatic renewal option has been declined), the maturity amount will be placed in a non-interest bearing account. CDs that were automatically renewed have a ten- calendar-day grace period (including the date of maturity). During the grace period, you may withdraw the amount of your deposit without incurring a premature withdrawal penalty. However, no interest will be paid from the date of maturity until the date of such withdrawal. If you choose to renew your deposit, during this grace period of 10 days, from a date later than the date of maturity, no interest will be paid from the date of maturity until the date of such renewal. Please, however, note that written instructions for withdrawal should be received by us within the grace period. The instructions will be accepted through Secured Messaging on Internet Banking Portal/Mail/In person visits to the Bank. CDs that mature on Saturdays, Sundays or Federal holidays will be available for withdrawal on the next business day and interest will be paid until the maturity date. CDs may not be negotiated or transferred to another individual or corporation. Your existing CDs may also be renewed as Senior Citizen CD in case you fulfil the eligibility norms subject to receipt of written request to convert the CD into a Senior Citizen CD. Existing CDs will not be auto renewed as Senior Citizen CD even though you may fulfil the eligibility conditions.
State Bank of India New York Customer Manual for Deposits 14 Type US Resident Non-US Resident Consumer accounts $5,000 $10,000 Accounts of Businesses $10,000 $10,000 f. Early Withdrawal Penalty: The principal amount of CD cannot usually be withdrawn before the maturity date, unless the Bank consents to the withdrawal as a special case. We may require that all holders of a joint account authorize a premature withdrawal of the principal from a CD account. Partial withdrawal is not permitted. The penalty for early withdrawals of CD is as follows: Term of Deposit No of Days for which Interest will be recovered 14 days 14 days 1 month to less than 1 year 30 days 1 year to less than 3 years 60 days 3 years to less than 5 years 120 days 5 years & over 180 days The penalty will be calculated at the same interest rate of the deposit. A penalty will not be charged if the premature withdrawal is caused by the death of the depositor or if the depositor is declared legally incompetent. g. Principal Protection: SBI New York Certificate of Deposit comes with “Principal Protection” feature. The penalty for early withdrawal would be limited up to the amount of interest paid / payable and will not result in reduction of the amount originally deposited. h. Renewal: If your CD is for a term of more than 30 days, we will send you a maturity notice not less than 14 days and not more than 30 days prior to the maturity date. No maturity notice will be sent for Certificate of Deposit with term of 30 days or less.
CATEGORIES OF CONSUMER ACCOUNTS A. Individual Accounts These are opened in the name of one person who is the only party who may authorize transactions in the account. B. Joint Accounts shall be opened with right of Survivorship Only : These are opened when two or more persons desire to have a common or joint account. These can be operated:  jointly by all the persons with right of survivorship only;  by any one of them;  In the event of death of any of the joint account holders, the balance will be available to the surviving account holder(s). All account holders must sign the application and specimen signature card. The Bank reserves the right to freeze or suspend the account if:  It receives a letter from any one of the account holders objecting to further transactions, or  It is made aware of a dispute.  In such an eventuality, all account holders will have to sign any instruction to the Bank. The Bank shall have the right to set off all funds in the account against any overdue debt, or to satisfy a judgment against any one of the joint account holders. C. Accounts in the Names of Minors (Only CD accounts are permitted) • Accounts can only be opened on behalf of minors by parents/natural guardian/a person appointed by the court. • These accounts are subject to New York Uniform Gifts to Minors Act under which the gift is irrevocable. • The SSN of the trustee or guardian and the minor is required on the application. • The guardian operates the account for the benefit of the minor until the latter attains the
k. Account Discrepancies: You must examine your statement of account and paid checks promptly and notify the Bank within 14 days, from the date of receipt of statement, of any discrepancies. If the discrepancy concerns an electronic funds transfer (e.g., Social Security credits, debit card or ACH transactions), then this notification should be made within 60 days of the Bank’s transmittal of the statement. If we do not hear from you within this period, we will assume that the statement is correct. Failure to examine your monthly statement and not reporting discrepancies to the Bank may also adversely affect your legal rights. For example, if you fail to notify us promptly on a forged check, you may lose your right to be reimbursed for a similar forgery, should one occur later. The Bank shall have the right to debit your accounts to recover any funds erroneously credited and to make good any shortfall from any other account you may have with us. Your accounts could be debited for any improper Government payments received by the Bank. If there is still a shortfall, you agree to repay us the amount owing. Interest paid on the erroneous credit will also be recovered. Further the Bank shall have right to recover funds from you if your account does not have sufficient funds to honor a pre-approved transaction done at a Merchant Establishment using your debit card or on account of other such transactions done using your debit card. Any two occurrences of your account having in-sufficient funds to cover a pre-approved/ authorized debit card transaction will lead to closure of your account and cancellation of the linked debit card facility. For account discrepancies you may call us at (212) 521-3283/ 3318 / 3286.
• Principal: The exact sum of money deposited in an account or the amount of money borrowed. • Right of Set-Off: Right to adjust any overdue debt from any other account held singly or jointly with us. • Substitute Check: means a paper reproduction of an original check that contains an image of the front and back of the original check, bears a MICR line, and is suitable for automated processing in the same manner as the original check. 7 Privacy Notice: FACTS WHAT DOES STATE BANK OF INDIA (SBI-US) DO WITH YOUR PERSONAL INFORMATION? Why? Financial companies choose how they share your personal information. Federal law gives consumers the right to limit some but not all sharing. Federal law also requires us to tell you how we collect, share, and protect your personal information. Please read this notice carefully to understand what we do. What? The types of personal information we collect and share depend on the product or service you have with us. This information can include: Social Security number and income Account balances and payment history Assets and debt When you are no longer our customer, we continue to share your information as described in this notice.
State Bank of India New York Customer Manual for Deposits 13 4.3. CERTIFICATE OF DEPOSIT (“CD”) A CD earns a fixed rate of interest when an amount of money (principal) is left on deposit with the Bank for a fixed period (a fixed number of days, months or years). After an account is opened, you may not make deposits into or withdraw from this account until the maturity date. Premature withdrawal of principal would attract a penalty. Refer to “Penalty for Early Withdrawal of Principal” (Section f). We offer CDs with maturities from 3 months to 5 years. Bank also accepts deposit for a tenor from 7 days to 3 months on a case to case basis. a. Interest Rate: The interest rate earned on a Certificate of Deposit will be a guaranteed fixed rate for the term of the CD. This rate is determined by the Bank, based on market conditions, at the time the account is opened or renewed. Presently we are not offering floating rate Certificate of Deposits. For current rate information, you may visit our website https://sbinewyork.statebank or call 212-521-3390. b. Annual Percentage Yield (APY): Our Certificates of Deposit are offered on simple interest (also called non-cumulative interest) and compound interest (also called cumulative interest) basis, depending upon your choice. For CDs with simple interest, there will not be any difference in the interest rate (also called Annual Percentage Rate, or APR) and the Annual Percentage Yield (APY). For CDs where interest is compounded, the Annual Percentage Yield measures the total amount of interest paid on the account in a year based on the interest rate and the frequency of compounding, which is quarterly. The interest is calculated on a 365 days basis. c. Compounding Period/Payment of Interest: If you choose to receive simple interest (non- cumulative) on your CD, you may opt to withdraw the interest at monthly/quarterly/half-yearly intervals, at the time of opening or renewing the CD, provided the deposit is for one year or more. For CDs of less than six months, the simple interest is paid at maturity. If you choose to receive compounded interest on your CD, interest will be compounded at quarterly intervals and will be paid along with the principal at the time of maturity. This option is only available for CDs of six months or higher maturities.

Test Case

Question: What happens if a check is presented with insufficient funds in a Money Market Deposit Account?

Metric Baseline Score Current Score
answer_accuracy 0.81419678 0.80556263 (-0.00863415)
groundedness 0.85229063 0.84361881 (-0.00867182)
mean_answer_similarity 0.86461880 0.86952385 (+0.00490506)
mean_reciprocal_rank 1.00000000 1.00000000
min_answer_similarity 0.81419678 0.80556263 (-0.00863415)
model_failures 0.00000000 0.00000000
model_generation_failures 0.00000000 0.00000000
model_parse_failures 0.00000000 0.00000000
model_passes 1.00000000 1.00000000
model_retrieval_failures 0.00000000 0.00000000
precision_relevancy 0.88301430 0.87412988 (-0.00888442)
recall_relevancy 0.94717652 0.90781844 (-0.03935807)
rouge_1 0.11494253 0.08064516 (-0.03429737)
rouge_2 0.04705882 0.03278689 (-0.01427194)
rouge_l 0.11494253 0.08064516 (-0.03429737)

Legend:

  • Metric : The evaluation metric name. Shown in bold red if the metric flipped between pass/fail status.
  • Baseline Score : The metric value for the baseline model. Shown in bold green if baseline won, red if lost.
  • Current Score : The metric value for the current model, followed by the delta from baseline in parentheses.
  • Delta Colors : Green = improvement, Orange = regression, Red = metric flipped to fail.
  • Winner Determination : For each metric, the winner is determined by comparing scores while considering the metric's directionality (higher is better vs. lower is better).
Baseline Result Current Result
Model claude-3-7-sonnet-20250219@h2ogpte claude-3-7-sonnet-20250219@h2ogpte
Question What happens if a check is presented with insufficient funds in a Money Market Deposit Account?
Expected answer The check will be dishonored.
Actual Answer According to the document, if a check is presented with insufficient funds in a Money Market Deposit Account, it will be dishonored. The document specifically states on page 11: "No overdraft is permitted under any circumstances in this account. Any check presented with insufficient funds will be dishonored." This is part of the terms and conditions for Money Market Deposit Accounts. Additionally, service charges would apply for checks returned unpaid, as mentioned in the "Schedule of Fees & Charges" referenced throughout the document. According to the document, if a check is presented with insufficient funds in a Money Market Deposit Account, it will be dishonored. This is explicitly stated on page 11 of the document: "No overdraft is permitted under any circumstances in this account. Any check presented with insufficient funds will be dishonored." The bank will charge a service fee for checks returned unpaid, as indicated in the "Schedule of Fees & Charges" section on page 46, which shows a $10 fee for "Deposited checks returned unpaid." Additionally, the document mentions on page 18 that checks which exceed the available balance in an account may be returned unpaid and are subject to a charge as indicated in the "Schedule of Fees & Charges."
Retrieved Context
Notice Regarding Money Market Deposit Accounts: If the Account is a Money Market Deposit Account, certain limitations on transactions apply. A maximum of 6 transfers or withdrawals, or a combination of such transfers or withdrawals, are permitted during a calendar month or statement cycle of at least four weeks, including transfers or withdrawal by check, ACH to third parties, and/or Debit Card transactions with Merchant Establishments. However, any number of the following transactions using the Debit Card at an ATM are permitted: cash withdrawals; transfers of funds between your own Accounts held with the Bank; and balance inquiries.
e. Withdrawals: When writing checks on your Checking or Money Market Deposit Account, please ensure that:  The amount is stated in US dollars;  The amount is within the available balance in your account. The available balance in your account may be affected because of other transactions, including debit card transactions. Checks which exceed the available balance in your account may be returned unpaid and are subject to a charge as indicated in “Schedule of Fees & Charges”. The Bank reserves the right to pay a stale check, i.e., a check more than 6 months old. A request for a withdrawal or transfer may not be honored in circumstances such as, but not limited to, these:  If the Bank has instructions to the contrary from a joint account holder. In such cases the signatures of all account holders would be required on any authorization.  If a court order/legal process prohibits the Bank from doing so.  If the Bank suspects fraud or violation, including money laundering.  If there is a dispute to the Bank’s knowledge.  If the account is pledged as collateral and has been set-off against overdue debts.  If the account is seized by State /Federal agency.  If the payee is not properly identified to us.  If the withdrawal/transfer exceeds the permissible number (e.g., more than 6 checks per statement period in Money Market Deposit Accounts).
c. Deposits: You can make deposits: • By check in person, during regular banking hours at the teller counter at the Bank. (Our regular banking hours are 9 AM - 4 PM ET Monday through Friday. Cash services are available only up to 3 PM ET) • By check in mail • By wire transfer • By pre-authorized credit such as for Social Security benefits • By cash in person, at our discretion Cash deposits may be subject to the Bank Secrecy Act reporting provisions. You may be asked to show a valid state id for cash deposit. There are no restrictions on the number of deposits in both Checking and Money Market Deposit Accounts. Funds will be made available in Checking Accounts as described in section 8 “Funds Availability.” The Bank maintains the right, for any reason or for no reason, to refuse to accept a deposit, or return in full or in part any deposit. Note - Check received in mail on any given day will be processed only on next business day. d. The Bank as Collecting Agent: The Bank accepts items for deposit or collection, as your collecting agent, subject to the following conditions:  All items will be credited subject to actual payment.  If payment is not received and the instrument is returned unpaid, the Bank shall have the right to charge back the item to your account. A service charge will also be levied for checks returned unpaid.
• Principal: The exact sum of money deposited in an account or the amount of money borrowed. • Right of Set-Off: Right to adjust any overdue debt from any other account held singly or jointly with us. • Substitute Check: means a paper reproduction of an original check that contains an image of the front and back of the original check, bears a MICR line, and is suitable for automated processing in the same manner as the original check. 7 Privacy Notice: FACTS WHAT DOES STATE BANK OF INDIA (SBI-US) DO WITH YOUR PERSONAL INFORMATION? Why? Financial companies choose how they share your personal information. Federal law gives consumers the right to limit some but not all sharing. Federal law also requires us to tell you how we collect, share, and protect your personal information. Please read this notice carefully to understand what we do. What? The types of personal information we collect and share depend on the product or service you have with us. This information can include: Social Security number and income Account balances and payment history Assets and debt When you are no longer our customer, we continue to share your information as described in this notice.
State Bank of India New York Customer Manual for Deposits 24 IMPORTANT INFORMATION ABOUT SUBSTITUTE CHECKS AND YOUR RIGHTS What is a substitute check? To make check processing faster, federal law permits banks to replace original checks with "substitute checks." These checks are similar to original checks with a slightly reduced image of the front and back of the original check. The front of a substitute check states: "This is a legal copy of your check. You can use it the same way you would use the original check." You may use a substitute check as proof of payment just like the original check. Some or all of the checks that you receive back from us may be substitute checks. This notice describes rights you have when you receive substitute checks from us. The rights in this notice do not apply to original checks or to electronic debits to your account. However, you have rights under other law with respect to those transactions. What are your rights regarding substitute check? In certain cases, federal law provides a special procedure that allows you to request a refund for losses you suffer if a substitute check is posted to your account (for example, if you think that we withdrew the wrong amount from your account or that we withdrew money from your account more than once for the same check). The losses you may attempt to recover under this procedure may include the amount that was withdrawn from your account and fees that were charged as a result of the withdrawal (for example, bounced check fees). The amount of your refund under this procedure is limited to the amount of your loss or the amount of the substitute check, whichever is less. You also are entitled to interest on the amount of your refund if your account is an interest-bearing account. If your loss exceeds the amount of the substitute check, you may be able to recover additional amounts under other law. If you use this procedure, you may receive up to $2,500 of your refund (plus interest if your account earns interest) within 10 business days after we received your claim and the remainder of your refund (plus interest if your account earns interest) not later than 45 calendar days after we received your claim. We may reverse the refund (including any interest on the refund) if we later are able to demonstrate that the substitute check was correctly posted to your account. How can you make a claim for a refund? If you believe that you have suffered a loss relating to a substitute check that you received and that was posted to your account, please contact us by phone at (212)521-3286/3318 or by postal mail at our mailing address. You must contact us within 40 calendar days of the date that we mailed (or otherwise delivered by a means to which you agreed) the substitute check in question or the account statement showing that the substitute check was posted to your account, whichever is later. We may extend this time period if you were not able to make a timely claim because of extraordinary circumstances. Your claim must be made in writing on the prescribed form, be signed by you and include: A description of why you have suffered a loss (e.g. you think the amount withdrawn was incorrect); An estimate of the amount of your loss;
m. Change of Address, e-mail address, telephone number and account details: Please update us promptly of any change of address, e-mail address, telephone number or account details and include a complete list of all your accounts and account numbers. Please use Customer Information Update Form (CIP Form) available on our website for update of any information and submit the same along with copy of valid Photo ID and Address proof. Bank reserves the right to ask for additional documents on a case to case basis. If you do not inform us of the changes, mailing of account statements may be withheld and the accounts may be blocked for further transactions until we hear from you. Bank may ask you to update your account information through remediation form as and when there is any material change, or whenever bank requires. If this information is not provided within a reasonable time (30 days), the Bank may decide to decline further transactions in the account and may also close the account if not received the same in subsequent 60 days. For proof of the new address, a utility bill, State issued ID with current address, or Letter issued by Government Authority to the current address to give effect to your change of address request may be provided. All requests for Change of Address, e-mail address, telephone number and account details should be submitted along with a copy of valid ID document. Bank may also call you on your registered number for confirming the details given on the request. If your signed request for email/phone number change is received through modes other than online banking and over the counter, there will be a 30 day debit restriction on your account. n. Closing an Account: You may close your Checking /Money Market Deposit Account at any time provided the funds on deposit are not held against uncollected deposited checks or attached by any legal action. A service charge would apply to Checking/Money Market Deposit Accounts closed within three months of opening. If a hold is placed on your account because of a pre-approved merchant transaction done using your debit card, the Bank may not close the account until the transaction is completed or the hold is removed.
State Bank of India New York Customer Manual for Deposits 25 An explanation of why the substitute check you received is insufficient to confirm that you suffered a loss; and A copy of the substitute check [and/or] the following information to help us identify the substitute check: (identifying information, for example the check number, the name of the person to whom you wrote the check, the amount of the check). [Both a legible copy of the substitute check and the details are preferred for an early response from the Bank] 5. ADDITIONAL INFORMATION ON DEPOSIT ACCOUNTS 5.1 Designation of Beneficiary We have introduced the DOB (Designation of Beneficiary) facility for individual customers. The facility is available to both existing as well as new customers. You can also designate beneficiaries for your existing accounts with us. The DOB form is available on our website https://sbinewyork.statebank. Please read the FAQ below to understand the DOB facility. a) What is the total number of beneficiaries permitted? The total number of beneficiaries will be restricted to four (4). It is Bank’s policy to accept designations where all beneficiaries have equal shares. In the event a beneficiary pre- deceases the account holder(s) the surviving beneficiaries will be entitled to equal shares of the balance of the account.
State Bank of India New York Customer Manual for Deposits 20 If you apply for a duplicate official check or a refund within 180 days of the date of the check, the Bank would require you and the payee to jointly sign an affidavit of loss and indemnity, referred to as Indemnity Agreement. You may also be required to submit a Surety Bond for twice the amount of the instrument or to place sufficient funds as security with us. After 180 days, an affidavit of loss and indemnity alone may suffice. A fee (see “Schedule of Fees & Charges”) will be charged for each stop payment request. i. Your Records: Your cancelled check(s) or substitute check(s), copies of special withdrawal form(s) and acknowledgment(s) on deposit slip(s) are your records. Paid and cancelled checks or substitute checks will be mailed with the statement of accounts to U.S. based customers. The cancelled checks or substitute checks for non-U.S. based accounts will normally be retained by the Bank. j. Statement of Account: Both Checking and Money Market Deposit Accounts are statement accounts. For all active statement accounts (that is, accounts which are not inactive or dormant as explained in Section 5.2) at least once in a calendar month, we will send a statement showing all account activities during the previous statement period. This statement will indicate your balance on the statement date and will give you an itemized, date-wise listing of all credits, all paid checks/ transfers, transactions put through using the linked debit card, interest earned, and any maintenance and service charges levied. It will also indicate the annual percentage yield earned (APYE) in effect during the period, if the account is interest bearing. All statements will be mailed to the last address known to the Bank by regular mail. For additional statements and other modes of sending statements, charges will be extra. No periodic account statements will be sent on CD accounts. Statements of Account are not available online, however, you may view the transactions online through internet banking.
State Bank of India New York Customer Manual for Deposits 21 l. Charges: We reserve the right to charge your account in accordance with the “Schedule of Fees & Charges” in circumstances such as, but not limited to, the following: • If a check deposited by you has been returned unpaid. • If there are insufficient funds in your account to cover a check you have issued. • If you use a service that involves a fee or a charge, e.g., issue of official checks or recovery of charges by a bank through which a wire transfer has been sent. • If there is a monthly service charge due to non-maintenance of minimum balance. • If we are required to comply with any legal process in connection with your account. • If you desire stop payment of a check. • If a postdated check written by you has been returned unpaid. • If we confirm the balance in your account to a third party under your authorization. • If you desire us to furnish credit information related to your account. • If you desire copies of your records. • If you give us a standing instruction. The Bank will not be responsible if it refuses to pay a check you have issued if there are not enough funds in the account after we have deducted a service charge.
State Bank of India New York Customer Manual for Deposits 22 The Bank also reserves the right to close your accounts without any prior notice for any reason in the Bank’s sole discretion. The Bank will mail you a check for the balance in the accounts. The Bank may give you notice before taking this step, although we are not obliged to do so. We also reserve the right to close your account if your account has a NIL balance for more than three (3) months. Payment of interest on your account (if your account is interest-bearing) will cease from the date of closure of the account. Checking and Money Market Deposit Accounts cannot be negotiated or transferred to another individual or corporation or entity. o. Bank’s Liability: If the Bank does not complete a transfer to or from your account in time or for the correct amount as per your agreement with us, we will be liable for your direct losses or damages but not any indirect costs or punitive costs or damages. However, the Bank will not be liable in circumstances such as:  The funds in your account are not sufficient to affect the transfer  The automated teller machine where you were making the transfer has a communication failure.  The automated teller machine did not have enough cash  If circumstances beyond our control prevent the transfer.  If we are unable to confirm the transaction with you (if required)  Any other exceptions stated in our agreement with you.
Notice Regarding Money Market Deposit Accounts: If the Account is a Money Market Deposit Account, certain limitations on transactions apply. A maximum of 6 transfers or withdrawals, or a combination of such transfers or withdrawals, are permitted during a calendar month or statement cycle of at least four weeks, including transfers or withdrawal by check, ACH to third parties, and/or Debit Card transactions with Merchant Establishments. However, any number of the following transactions using the Debit Card at an ATM are permitted: cash withdrawals; transfers of funds between your own Accounts held with the Bank; and balance inquiries.
e. Withdrawals: When writing checks on your Checking or Money Market Deposit Account, please ensure that:  The amount is stated in US dollars;  The amount is within the available balance in your account. The available balance in your account may be affected because of other transactions, including debit card transactions. Checks which exceed the available balance in your account may be returned unpaid and are subject to a charge as indicated in “Schedule of Fees & Charges”. The Bank reserves the right to pay a stale check, i.e., a check more than 6 months old. A request for a withdrawal or transfer may not be honored in circumstances such as, but not limited to, these:  If the Bank has instructions to the contrary from a joint account holder. In such cases the signatures of all account holders would be required on any authorization.  If a court order/legal process prohibits the Bank from doing so.  If the Bank suspects fraud or violation, including money laundering.  If there is a dispute to the Bank’s knowledge.  If the account is pledged as collateral and has been set-off against overdue debts.  If the account is seized by State /Federal agency.  If the payee is not properly identified to us.  If the withdrawal/transfer exceeds the permissible number (e.g., more than 6 checks per statement period in Money Market Deposit Accounts).
c. Deposits: You can make deposits: • By check in person, during regular banking hours at the teller counter at the Bank. (Our regular banking hours are 9 AM - 4 PM ET Monday through Friday. Cash services are available only up to 3 PM ET) • By check in mail • By wire transfer • By pre-authorized credit such as for Social Security benefits • By cash in person, at our discretion Cash deposits may be subject to the Bank Secrecy Act reporting provisions. You may be asked to show a valid state id for cash deposit. There are no restrictions on the number of deposits in both Checking and Money Market Deposit Accounts. Funds will be made available in Checking Accounts as described in section 8 “Funds Availability.” The Bank maintains the right, for any reason or for no reason, to refuse to accept a deposit, or return in full or in part any deposit. Note - Check received in mail on any given day will be processed only on next business day. d. The Bank as Collecting Agent: The Bank accepts items for deposit or collection, as your collecting agent, subject to the following conditions:  All items will be credited subject to actual payment.  If payment is not received and the instrument is returned unpaid, the Bank shall have the right to charge back the item to your account. A service charge will also be levied for checks returned unpaid.
State Bank of India New York Customer Manual for Deposits 19  If there is no prior, agreed arrangement regarding the mode of conveying payment instruction. f. Cash Withdrawal: You may withdraw in cash from your Money Market Deposit Account and from your Checking Account, up to your available balance, at the teller counter of the Bank by using special withdrawal forms or through your personalized checks. The teller may ask you to provide a valid State ID for cash withdrawal. You may also withdraw cash from your Money Market Deposit Account or Checking Account at an ATM machine using the debit card associated to your account up to the permissible limits. Checks up to $3,000, written by you on your Checking Account or Money Market Deposit Account to another person as payee, will be paid to that person when he/she presents suitable identification. For checks over $3,000 the Bank reserves the right to ask a payee to deposit the check in a bank account, unless you have made a prior written request that we cash the check and we have agreed to your request. h. Stop Payment Order: Any one of the account holders can instruct us in writing to stop payment on any check unless it has already been paid. In respect of a certified check or cashier’s/official check, the remitter or payee can instruct us, at any time up to 90 days from the date of issue, for reasons such as instrument destroyed, lost or in wrongful possession of an unknown person, or a person that cannot be found or is not amenable to service of process, if the check has not already been paid. You can also stop check online through “YONO US Portal” by using your login credentials. The maximum number of checks in a range which can be stopped in single attempt is 10. The charges shall be as enumerated in “Schedule of Fees & Charges”.
State Bank of India New York Customer Manual for Deposits 22 The Bank also reserves the right to close your accounts without any prior notice for any reason in the Bank’s sole discretion. The Bank will mail you a check for the balance in the accounts. The Bank may give you notice before taking this step, although we are not obliged to do so. We also reserve the right to close your account if your account has a NIL balance for more than three (3) months. Payment of interest on your account (if your account is interest-bearing) will cease from the date of closure of the account. Checking and Money Market Deposit Accounts cannot be negotiated or transferred to another individual or corporation or entity. o. Bank’s Liability: If the Bank does not complete a transfer to or from your account in time or for the correct amount as per your agreement with us, we will be liable for your direct losses or damages but not any indirect costs or punitive costs or damages. However, the Bank will not be liable in circumstances such as:  The funds in your account are not sufficient to affect the transfer  The automated teller machine where you were making the transfer has a communication failure.  The automated teller machine did not have enough cash  If circumstances beyond our control prevent the transfer.  If we are unable to confirm the transaction with you (if required)  Any other exceptions stated in our agreement with you.
• Principal: The exact sum of money deposited in an account or the amount of money borrowed. • Right of Set-Off: Right to adjust any overdue debt from any other account held singly or jointly with us. • Substitute Check: means a paper reproduction of an original check that contains an image of the front and back of the original check, bears a MICR line, and is suitable for automated processing in the same manner as the original check. 7 Privacy Notice: FACTS WHAT DOES STATE BANK OF INDIA (SBI-US) DO WITH YOUR PERSONAL INFORMATION? Why? Financial companies choose how they share your personal information. Federal law gives consumers the right to limit some but not all sharing. Federal law also requires us to tell you how we collect, share, and protect your personal information. Please read this notice carefully to understand what we do. What? The types of personal information we collect and share depend on the product or service you have with us. This information can include: Social Security number and income Account balances and payment history Assets and debt When you are no longer our customer, we continue to share your information as described in this notice.
State Bank of India New York Customer Manual for Deposits 20 If you apply for a duplicate official check or a refund within 180 days of the date of the check, the Bank would require you and the payee to jointly sign an affidavit of loss and indemnity, referred to as Indemnity Agreement. You may also be required to submit a Surety Bond for twice the amount of the instrument or to place sufficient funds as security with us. After 180 days, an affidavit of loss and indemnity alone may suffice. A fee (see “Schedule of Fees & Charges”) will be charged for each stop payment request. i. Your Records: Your cancelled check(s) or substitute check(s), copies of special withdrawal form(s) and acknowledgment(s) on deposit slip(s) are your records. Paid and cancelled checks or substitute checks will be mailed with the statement of accounts to U.S. based customers. The cancelled checks or substitute checks for non-U.S. based accounts will normally be retained by the Bank. j. Statement of Account: Both Checking and Money Market Deposit Accounts are statement accounts. For all active statement accounts (that is, accounts which are not inactive or dormant as explained in Section 5.2) at least once in a calendar month, we will send a statement showing all account activities during the previous statement period. This statement will indicate your balance on the statement date and will give you an itemized, date-wise listing of all credits, all paid checks/ transfers, transactions put through using the linked debit card, interest earned, and any maintenance and service charges levied. It will also indicate the annual percentage yield earned (APYE) in effect during the period, if the account is interest bearing. All statements will be mailed to the last address known to the Bank by regular mail. For additional statements and other modes of sending statements, charges will be extra. No periodic account statements will be sent on CD accounts. Statements of Account are not available online, however, you may view the transactions online through internet banking.
State Bank of India New York Customer Manual for Deposits 24 IMPORTANT INFORMATION ABOUT SUBSTITUTE CHECKS AND YOUR RIGHTS What is a substitute check? To make check processing faster, federal law permits banks to replace original checks with "substitute checks." These checks are similar to original checks with a slightly reduced image of the front and back of the original check. The front of a substitute check states: "This is a legal copy of your check. You can use it the same way you would use the original check." You may use a substitute check as proof of payment just like the original check. Some or all of the checks that you receive back from us may be substitute checks. This notice describes rights you have when you receive substitute checks from us. The rights in this notice do not apply to original checks or to electronic debits to your account. However, you have rights under other law with respect to those transactions. What are your rights regarding substitute check? In certain cases, federal law provides a special procedure that allows you to request a refund for losses you suffer if a substitute check is posted to your account (for example, if you think that we withdrew the wrong amount from your account or that we withdrew money from your account more than once for the same check). The losses you may attempt to recover under this procedure may include the amount that was withdrawn from your account and fees that were charged as a result of the withdrawal (for example, bounced check fees). The amount of your refund under this procedure is limited to the amount of your loss or the amount of the substitute check, whichever is less. You also are entitled to interest on the amount of your refund if your account is an interest-bearing account. If your loss exceeds the amount of the substitute check, you may be able to recover additional amounts under other law. If you use this procedure, you may receive up to $2,500 of your refund (plus interest if your account earns interest) within 10 business days after we received your claim and the remainder of your refund (plus interest if your account earns interest) not later than 45 calendar days after we received your claim. We may reverse the refund (including any interest on the refund) if we later are able to demonstrate that the substitute check was correctly posted to your account. How can you make a claim for a refund? If you believe that you have suffered a loss relating to a substitute check that you received and that was posted to your account, please contact us by phone at (212)521-3286/3318 or by postal mail at our mailing address. You must contact us within 40 calendar days of the date that we mailed (or otherwise delivered by a means to which you agreed) the substitute check in question or the account statement showing that the substitute check was posted to your account, whichever is later. We may extend this time period if you were not able to make a timely claim because of extraordinary circumstances. Your claim must be made in writing on the prescribed form, be signed by you and include: A description of why you have suffered a loss (e.g. you think the amount withdrawn was incorrect); An estimate of the amount of your loss;
State Bank of India New York Customer Manual for Deposits 25 An explanation of why the substitute check you received is insufficient to confirm that you suffered a loss; and A copy of the substitute check [and/or] the following information to help us identify the substitute check: (identifying information, for example the check number, the name of the person to whom you wrote the check, the amount of the check). [Both a legible copy of the substitute check and the details are preferred for an early response from the Bank] 5. ADDITIONAL INFORMATION ON DEPOSIT ACCOUNTS 5.1 Designation of Beneficiary We have introduced the DOB (Designation of Beneficiary) facility for individual customers. The facility is available to both existing as well as new customers. You can also designate beneficiaries for your existing accounts with us. The DOB form is available on our website https://sbinewyork.statebank. Please read the FAQ below to understand the DOB facility. a) What is the total number of beneficiaries permitted? The total number of beneficiaries will be restricted to four (4). It is Bank’s policy to accept designations where all beneficiaries have equal shares. In the event a beneficiary pre- deceases the account holder(s) the surviving beneficiaries will be entitled to equal shares of the balance of the account.
State Bank of India New York Customer Manual for Deposits 46 Deposited checks returned unpaid # $10 $10 Closing of Checking or Money Market account within 3 months of opening $25 $25 Listing of Stop Payment request valid for 6 months per check, per ACH debit or debit card preauthorized transfers stopped (maximum $50 at one time) $15 $15 Stop Check Request through YONO US Portal (Min. 1 leaf Max: 10 leaves within same range) $15 for one leaf $30 for 2 leaves $45 for 3 leaves $50 for 4-10 leaves Not Applicable Cancellation of Stop Payment request per check, ACH debit or debit card preauthorized transfers stopped $15 $15 Expedited Delivery of Debit Card Actual cost charged by the service provider -- Per item charge for copy of paid checks/deposited checks, withdrawals or tickets - For current calendar year - For previous calendar year - For other years (up to 5 previous years) *per preceding year beyond previous year $5 $10 $15 * $5 $10 $15 * Charges per page of account statements - For current calendar year - For previous calendar year - For all other years (up to 5 previous years) *per preceding year beyond previous year $5 $10 $15 * $5 $10 $15 * Transfer of funds from Checking to MMD or vice-versa (per transfer) / between two accounts Manual transfer Online transfer $5 Free $5 Free Credit reference $10 $10 Issue of local official checks/certified checks $10 $10 Cash handling charges (per thousand or part thereof after first $1000 deposit in a day) NIL for less than $1000 $2 $2

Test Case

Question: What is the minimum balance required to open a Basic Checking Account?

Metric Baseline Score Current Score
answer_accuracy 0.00584795 0.00660793 (+0.00075998)
groundedness 0.90764364 0.92677041 (+0.01912677)
mean_answer_similarity 0.79431474 0.79822966 (+0.00391492)
mean_reciprocal_rank 1.00000000 1.00000000
min_answer_similarity 0.71683714 0.76262227 (+0.04578513)
model_failures 0.00000000 0.00000000
model_generation_failures 0.00000000 0.00000000
model_parse_failures 0.00000000 0.00000000
model_passes 1.00000000 1.00000000
model_retrieval_failures 0.00000000 0.00000000
precision_relevancy 0.86813610 0.87008761 (+0.00195151)
recall_relevancy 0.91779768 0.91779768
rouge_1 0.02409639 0.02631579 (+0.00221940)
rouge_2 0.00000000 0.00000000
rouge_l 0.02409639 0.02631579 (+0.00221940)

Legend:

  • Metric : The evaluation metric name. Shown in bold red if the metric flipped between pass/fail status.
  • Baseline Score : The metric value for the baseline model. Shown in bold green if baseline won, red if lost.
  • Current Score : The metric value for the current model, followed by the delta from baseline in parentheses.
  • Delta Colors : Green = improvement, Orange = regression, Red = metric flipped to fail.
  • Winner Determination : For each metric, the winner is determined by comparing scores while considering the metric's directionality (higher is better vs. lower is better).
Baseline Result Current Result
Model claude-3-7-sonnet-20250219@h2ogpte claude-3-7-sonnet-20250219@h2ogpte
Question What is the minimum balance required to open a Basic Checking Account?
Expected answer $25
Actual Answer According to the document, the minimum deposit required to open a Basic Checking Account is $25. This information is found on page 10 of the State Bank of India New York Customer Manual for Deposits, which states under the "Salient Features of Basic Checking Accounts" section: "a. Minimum deposit to open the account: $25." Unlike regular checking accounts which have higher minimum balance requirements, the Basic Checking Account is designed to provide low-cost banking services to residents of New York State. According to the document, the minimum deposit required to open a Basic Checking Account is $25. This information is found on page 10 of the State Bank of India New York Customer Manual for Deposits, which states under "Salient Features of Basic Checking Accounts" that the "Minimum deposit to open the account: $25." The Basic Checking Account is offered to provide low-cost banking services to residents of New York State who meet certain requirements.
Retrieved Context
State Bank of India New York Customer Manual for Deposits 10 Consumer Account Business/ Associations US Resident $1,000 $20,000 Non- US Resident $10,000 $50,000 A minimum balance service charge as listed in our “Schedule of Fees & Charges” in this Manual will be imposed every month if the balance in the account falls below the required minimum during any day of a calendar month. If the balance is less than the amount required to be deducted as a service charge, the available balance will be treated as service charges and the account may be closed forthwith, with notice to the customer at the last available address in our records. A checking account for a Non US resident consumer or business/association will be opened at the sole discretion of the Bank and as per its policy, either on the same terms and conditions as for U.S.-resident customers or on separate terms and conditions. No overdraft is permitted under any circumstances in this account. Any check presented with insufficient funds will be dishonored. Service charges are listed in our “Schedule of Fees & Charges” in this Manual. Early closure fees will apply if you close your account within three months of opening. The Bank will provide a statement of account at monthly intervals. 4.1.1 Basic Checking Account In order to provide low cost banking services, we offer “basic banking” checking accounts to all consumers who fulfill the following requirements: • Residents of New York State. • The consumer is required to close all other transaction accounts with our Bank or any other banking institution and will be given a period of 60 days (from the date the basic banking account is opened) to do so. If other transaction account/s is/are not closed within 60 days, the said basic checking account shall be closed by the Bank. • Receive direct credit of a recurring payment such as Social Security, wages or pension payments. • Have limited monthly transactions. • Desire basic checking services. Salient Features of Basic Checking Accounts a. Minimum deposit to open the account: $25. b. Minimum monthly balance required to be maintained: No minimum balance. c. Monthly maintenance fee: i) Nil, if the daily balance is $500 or more. ii) Otherwise $3 per month.
State Bank of India New York Customer Manual for Deposits 3 ANNEXURE A CUSTOMER MANUAL 2024: SCHEDULE OF CHANGES Page Previous Version Current Version 10 Basic Checking Account In order to provide low cost banking services, we offer “basic banking” checking accounts to all consumers who fulfill the following requirements: • Residents of New York State who do not maintain any transaction account with the Bank. Basic Checking Account In order to provide low cost banking services, we offer “basic banking” checking accounts to all consumers who fulfill the following requirements: •Residents of New York State. •The consumer is required to close all other transaction accounts with our Bank or any other banking institution and will be given a period of 60 days (from the date the basic banking account is opened) to do so. If other transaction account/s is/are not closed within 60 days, the said basic checking account shall be closed by the Bank. 21 Change of Address, e-mail address, telephone number and account details: Bank may ask you to update your account information through remediation form as and when there is any material change, or whenever bank requires. If this information is not provided within a reasonable time (30 days), the Bank may decide to decline further transactions in the account and may also close the account if not received the same in 60 days.
State Bank of India New York Customer Manual for Deposits 45 B. Service Fees & Charges Consumer Accounts Accounts of Business/ Associations Excess Transaction charges – Each transaction in Money Market Accounts in excess of 6 transfers or withdrawals or a combination of these in a statement period. $5 $5 Checks returned or paid against insufficient or unavailable funds # $10 $15 SCHEDULE OF FEES & CHARGES Minimum Balance Requirements & Service Charges Checking Account Money Market Account Consumer A/C Business/Associations Consumer A/c Business/Associations USA Resident Minimum daily balance 1,000 $ 20,000 $2,500 $ 50,000 Monthly service charge (if the balance falls below minimum on any day of the month) $15* (effective 01/01/2020) $ 50 $20* (effective 01/01/2020) $ 50 Non-USA Resident Minimum daily balance Opened at the sole discretion of the Bank and as per its Policy. Minimum balance is $10,000 Opened at the sole discretion of the Bank and as per its Policy. Minimum balance is $ 50,000 Opened at the sole discretion of the Bank and as per its Policy. Minimum balance is $ 25,000 Opened at the sole discretion of the Bank and as per its Policy. Minimum balance is $ 100,000 Monthly service charge (if the balance falls below minimum on any day of the month) $20* (effective 01/01/2020) $50 $25* (effective 01/01/2020) $50 Note : Consumer accounts = Accounts of natural persons
State Bank of India New York Customer Manual for Deposits 11 age or older. For every additional withdrawal or check beyond above mentioned number in a statement cycle, $5 will be recovered e. Restriction on the number of credits/deposits: No restriction. f. Availability of account statement and frequency of monthly statement: Account statements at monthly intervals will be provided. 4.2 Money Market Deposit (MMD) Account This is an interest-bearing account from which withdrawals can be made in accordance with certain prescribed restrictions. Tiered interest rate is available on money market accounts based on the balances available in the account. The minimum deposit required for opening an account is the minimum daily balance requirement for the account which is tabled below. The daily minimum balances required to be maintained to avoid monthly service charges are as follows: Consumer Account Business/ Associations US Resident Customer $2,500 $50,000 Non-US Resident Customer $25,000 $ 100,000 A minimum balance service charge as listed in our “Schedule of Fees & Charges” in this Manual will be imposed every month if the balance in the account falls below the required minimum during any day of a calendar month. If the balance is less than the amount required to be deducted as service charge, the so available balance will be treated as service charges and the account may be closed forthwith, with notice to the customer at the last available address in our records. No overdraft is permitted under any circumstances in this account. Any check presented with insufficient funds will be dishonored. Service charges are listed in our “Schedule of Fees & Charges” in this Manual. A Money Market Deposit Account for Non-US Resident consumer or business/association would be opened at the sole discretion of the Bank and as per its policy, either on the same terms and conditions as for U.S- resident customers or on mutually agreed terms and conditions. Monthly service charges are listed in our “Schedule of Fees & Charges” in this Manual. Early closure fees will apply if you close your account within three months of opening. Other Features of Money Market Deposit Accounts a. Interest Rate: Tiered interest rate is available on MMD accounts based on the balances available in account. Interest rate on these accounts may vary from time to time. The Bank reserves the right to change the rate at any time. There is no limitation as to the percentage amount the interest rate may vary. You may visit our website https://sbinewyork.statebank or call (212) 521-3200 for information on the current rate of interest. b. Payment of Interest: Interest will accrue on your day-end balance. Interest earned during the month will be credited to the account at the close of business on the last business day of the month and will be made available to you on the first business day of the following month. There is no minimum balance required to earn the stated annual percentage yield. For non-cash deposits made into your account (for example checks) interest begins to accrue no later than the business day we receive credit for the deposit of the non-cash items. If the account is closed during the middle of a
State Bank of India New York Customer Manual for Deposits 7 Bank to open the account. h) If you reside outside the United States and desire to open an account, you should send photocopies of passports duly attested by the Indian Embassy/High Commission of India or by a branch of State Bank of India. i) If you are a corporation or foreign partnership and desire to open an account in that name, the requirements may vary as detailed under ‘Accounts of Businesses’ listed under item 3. j) Individuals should apply on form DEP-1 and non-individuals should apply on form DEP-3. These forms contain a check-list of documents required and formalities to be completed for opening of accounts. Existing account holders wishing to open additional CDs should apply on form DEP-CD. k) Bank reserves the right to ask for additional documents on a case to case basis. l) In the event that we are unable to verify your address upon account opening, we will send you a letter through USPS certified mail/FedEx with a return acknowledgement receipt to confirm the address. In the event that the acknowledgement receipt is not returned to us within thirty (30) days from the account opening date, we may close the account.
State Bank of India New York Customer Manual for Deposits 21 l. Charges: We reserve the right to charge your account in accordance with the “Schedule of Fees & Charges” in circumstances such as, but not limited to, the following: • If a check deposited by you has been returned unpaid. • If there are insufficient funds in your account to cover a check you have issued. • If you use a service that involves a fee or a charge, e.g., issue of official checks or recovery of charges by a bank through which a wire transfer has been sent. • If there is a monthly service charge due to non-maintenance of minimum balance. • If we are required to comply with any legal process in connection with your account. • If you desire stop payment of a check. • If a postdated check written by you has been returned unpaid. • If we confirm the balance in your account to a third party under your authorization. • If you desire us to furnish credit information related to your account. • If you desire copies of your records. • If you give us a standing instruction. The Bank will not be responsible if it refuses to pay a check you have issued if there are not enough funds in the account after we have deducted a service charge.
State Bank of India New York Customer Manual for Deposits 22 The Bank also reserves the right to close your accounts without any prior notice for any reason in the Bank’s sole discretion. The Bank will mail you a check for the balance in the accounts. The Bank may give you notice before taking this step, although we are not obliged to do so. We also reserve the right to close your account if your account has a NIL balance for more than three (3) months. Payment of interest on your account (if your account is interest-bearing) will cease from the date of closure of the account. Checking and Money Market Deposit Accounts cannot be negotiated or transferred to another individual or corporation or entity. o. Bank’s Liability: If the Bank does not complete a transfer to or from your account in time or for the correct amount as per your agreement with us, we will be liable for your direct losses or damages but not any indirect costs or punitive costs or damages. However, the Bank will not be liable in circumstances such as:  The funds in your account are not sufficient to affect the transfer  The automated teller machine where you were making the transfer has a communication failure.  The automated teller machine did not have enough cash  If circumstances beyond our control prevent the transfer.  If we are unable to confirm the transaction with you (if required)  Any other exceptions stated in our agreement with you.
State Bank of India New York Customer Manual for Deposits 30 offices are collectively referred to as SBI-US in this Notice. What we do How does SBI–US protect my personal information? To protect your personal information from unauthorized access and use, we use security measures that comply with federal law. SBI-US has established physical, technological and procedural systems and controls for protecting the confidentiality of your personal information. SBI-US employees undergo training on protecting customer information. How does SBI–US collect my personal information? We collect your personal information, for example, when you Open an account or deposit money Pay your bills or apply for a loan Use your credit or debit card We also collect your personal information from credit bureaus. Why can't I limit all sharing? Federal law gives you the right to limit only Sharing for affiliates’ everyday business purposes- information about your creditworthiness Affiliates from using your information to market to you Sharing for non-affiliates to market to you State laws and individual companies may give you additional rights to limit sharing. See below for more on your rights under state law.
State Bank of India New York Customer Manual for Deposits 8 age of 18 years after which the minor should be given full authority to operate the account. 3. ACCOUNTS OF BUSINESSES 3.1 Corporate Accounts To establish a corporate account, the Bank requires among other information/documents the following:  A copy of the Certificate of Incorporation with proof of filing  Articles of Incorporation or Association.  Proof of Business Address.  Certificate of Beneficial owners, wherever applicable.  For a corporation registered / incorporated in India, Reserve Bank of India approval for opening the account, wherever applicable, is also required.  A copy of corporate resolution adopted by the Board of Directors of the corporation authorizing:  opening of the account and stating the person(s) who can do so;  Identification of the persons who can operate the account; and  Extent of powers vested in these official(s) including instructions regarding restrictions on operation (e.g., whether the account is to be operated singly or jointly and the extent to which each signatory could sign checks or other debit authority and/or apply for credits on behalf of the corporation).  Government issued photo identification of all of the authorized signatories, beneficial owners, controlling officials. If such signatories are US residents, SSN is also required.
State Bank of India New York Customer Manual for Deposits 46 Deposited checks returned unpaid # $10 $10 Closing of Checking or Money Market account within 3 months of opening $25 $25 Listing of Stop Payment request valid for 6 months per check, per ACH debit or debit card preauthorized transfers stopped (maximum $50 at one time) $15 $15 Stop Check Request through YONO US Portal (Min. 1 leaf Max: 10 leaves within same range) $15 for one leaf $30 for 2 leaves $45 for 3 leaves $50 for 4-10 leaves Not Applicable Cancellation of Stop Payment request per check, ACH debit or debit card preauthorized transfers stopped $15 $15 Expedited Delivery of Debit Card Actual cost charged by the service provider -- Per item charge for copy of paid checks/deposited checks, withdrawals or tickets - For current calendar year - For previous calendar year - For other years (up to 5 previous years) *per preceding year beyond previous year $5 $10 $15 * $5 $10 $15 * Charges per page of account statements - For current calendar year - For previous calendar year - For all other years (up to 5 previous years) *per preceding year beyond previous year $5 $10 $15 * $5 $10 $15 * Transfer of funds from Checking to MMD or vice-versa (per transfer) / between two accounts Manual transfer Online transfer $5 Free $5 Free Credit reference $10 $10 Issue of local official checks/certified checks $10 $10 Cash handling charges (per thousand or part thereof after first $1000 deposit in a day) NIL for less than $1000 $2 $2
State Bank of India New York Customer Manual for Deposits 10 Consumer Account Business/ Associations US Resident $1,000 $20,000 Non- US Resident $10,000 $50,000 A minimum balance service charge as listed in our “Schedule of Fees & Charges” in this Manual will be imposed every month if the balance in the account falls below the required minimum during any day of a calendar month. If the balance is less than the amount required to be deducted as a service charge, the available balance will be treated as service charges and the account may be closed forthwith, with notice to the customer at the last available address in our records. A checking account for a Non US resident consumer or business/association will be opened at the sole discretion of the Bank and as per its policy, either on the same terms and conditions as for U.S.-resident customers or on separate terms and conditions. No overdraft is permitted under any circumstances in this account. Any check presented with insufficient funds will be dishonored. Service charges are listed in our “Schedule of Fees & Charges” in this Manual. Early closure fees will apply if you close your account within three months of opening. The Bank will provide a statement of account at monthly intervals. 4.1.1 Basic Checking Account In order to provide low cost banking services, we offer “basic banking” checking accounts to all consumers who fulfill the following requirements: • Residents of New York State. • The consumer is required to close all other transaction accounts with our Bank or any other banking institution and will be given a period of 60 days (from the date the basic banking account is opened) to do so. If other transaction account/s is/are not closed within 60 days, the said basic checking account shall be closed by the Bank. • Receive direct credit of a recurring payment such as Social Security, wages or pension payments. • Have limited monthly transactions. • Desire basic checking services. Salient Features of Basic Checking Accounts a. Minimum deposit to open the account: $25. b. Minimum monthly balance required to be maintained: No minimum balance. c. Monthly maintenance fee: i) Nil, if the daily balance is $500 or more. ii) Otherwise $3 per month.
State Bank of India New York Customer Manual for Deposits 45 B. Service Fees & Charges Consumer Accounts Accounts of Business/ Associations Excess Transaction charges – Each transaction in Money Market Accounts in excess of 6 transfers or withdrawals or a combination of these in a statement period. $5 $5 Checks returned or paid against insufficient or unavailable funds # $10 $15 SCHEDULE OF FEES & CHARGES Minimum Balance Requirements & Service Charges Checking Account Money Market Account Consumer A/C Business/Associations Consumer A/c Business/Associations USA Resident Minimum daily balance 1,000 $ 20,000 $2,500 $ 50,000 Monthly service charge (if the balance falls below minimum on any day of the month) $15* (effective 01/01/2020) $ 50 $20* (effective 01/01/2020) $ 50 Non-USA Resident Minimum daily balance Opened at the sole discretion of the Bank and as per its Policy. Minimum balance is $10,000 Opened at the sole discretion of the Bank and as per its Policy. Minimum balance is $ 50,000 Opened at the sole discretion of the Bank and as per its Policy. Minimum balance is $ 25,000 Opened at the sole discretion of the Bank and as per its Policy. Minimum balance is $ 100,000 Monthly service charge (if the balance falls below minimum on any day of the month) $20* (effective 01/01/2020) $50 $25* (effective 01/01/2020) $50 Note : Consumer accounts = Accounts of natural persons
State Bank of India New York Customer Manual for Deposits 3 ANNEXURE A CUSTOMER MANUAL 2024: SCHEDULE OF CHANGES Page Previous Version Current Version 10 Basic Checking Account In order to provide low cost banking services, we offer “basic banking” checking accounts to all consumers who fulfill the following requirements: • Residents of New York State who do not maintain any transaction account with the Bank. Basic Checking Account In order to provide low cost banking services, we offer “basic banking” checking accounts to all consumers who fulfill the following requirements: •Residents of New York State. •The consumer is required to close all other transaction accounts with our Bank or any other banking institution and will be given a period of 60 days (from the date the basic banking account is opened) to do so. If other transaction account/s is/are not closed within 60 days, the said basic checking account shall be closed by the Bank. 21 Change of Address, e-mail address, telephone number and account details: Bank may ask you to update your account information through remediation form as and when there is any material change, or whenever bank requires. If this information is not provided within a reasonable time (30 days), the Bank may decide to decline further transactions in the account and may also close the account if not received the same in 60 days.
State Bank of India New York Customer Manual for Deposits 11 age or older. For every additional withdrawal or check beyond above mentioned number in a statement cycle, $5 will be recovered e. Restriction on the number of credits/deposits: No restriction. f. Availability of account statement and frequency of monthly statement: Account statements at monthly intervals will be provided. 4.2 Money Market Deposit (MMD) Account This is an interest-bearing account from which withdrawals can be made in accordance with certain prescribed restrictions. Tiered interest rate is available on money market accounts based on the balances available in the account. The minimum deposit required for opening an account is the minimum daily balance requirement for the account which is tabled below. The daily minimum balances required to be maintained to avoid monthly service charges are as follows: Consumer Account Business/ Associations US Resident Customer $2,500 $50,000 Non-US Resident Customer $25,000 $ 100,000 A minimum balance service charge as listed in our “Schedule of Fees & Charges” in this Manual will be imposed every month if the balance in the account falls below the required minimum during any day of a calendar month. If the balance is less than the amount required to be deducted as service charge, the so available balance will be treated as service charges and the account may be closed forthwith, with notice to the customer at the last available address in our records. No overdraft is permitted under any circumstances in this account. Any check presented with insufficient funds will be dishonored. Service charges are listed in our “Schedule of Fees & Charges” in this Manual. A Money Market Deposit Account for Non-US Resident consumer or business/association would be opened at the sole discretion of the Bank and as per its policy, either on the same terms and conditions as for U.S- resident customers or on mutually agreed terms and conditions. Monthly service charges are listed in our “Schedule of Fees & Charges” in this Manual. Early closure fees will apply if you close your account within three months of opening. Other Features of Money Market Deposit Accounts a. Interest Rate: Tiered interest rate is available on MMD accounts based on the balances available in account. Interest rate on these accounts may vary from time to time. The Bank reserves the right to change the rate at any time. There is no limitation as to the percentage amount the interest rate may vary. You may visit our website https://sbinewyork.statebank or call (212) 521-3200 for information on the current rate of interest. b. Payment of Interest: Interest will accrue on your day-end balance. Interest earned during the month will be credited to the account at the close of business on the last business day of the month and will be made available to you on the first business day of the following month. There is no minimum balance required to earn the stated annual percentage yield. For non-cash deposits made into your account (for example checks) interest begins to accrue no later than the business day we receive credit for the deposit of the non-cash items. If the account is closed during the middle of a
State Bank of India New York Customer Manual for Deposits 7 Bank to open the account. h) If you reside outside the United States and desire to open an account, you should send photocopies of passports duly attested by the Indian Embassy/High Commission of India or by a branch of State Bank of India. i) If you are a corporation or foreign partnership and desire to open an account in that name, the requirements may vary as detailed under ‘Accounts of Businesses’ listed under item 3. j) Individuals should apply on form DEP-1 and non-individuals should apply on form DEP-3. These forms contain a check-list of documents required and formalities to be completed for opening of accounts. Existing account holders wishing to open additional CDs should apply on form DEP-CD. k) Bank reserves the right to ask for additional documents on a case to case basis. l) In the event that we are unable to verify your address upon account opening, we will send you a letter through USPS certified mail/FedEx with a return acknowledgement receipt to confirm the address. In the event that the acknowledgement receipt is not returned to us within thirty (30) days from the account opening date, we may close the account.
State Bank of India New York Customer Manual for Deposits 21 l. Charges: We reserve the right to charge your account in accordance with the “Schedule of Fees & Charges” in circumstances such as, but not limited to, the following: • If a check deposited by you has been returned unpaid. • If there are insufficient funds in your account to cover a check you have issued. • If you use a service that involves a fee or a charge, e.g., issue of official checks or recovery of charges by a bank through which a wire transfer has been sent. • If there is a monthly service charge due to non-maintenance of minimum balance. • If we are required to comply with any legal process in connection with your account. • If you desire stop payment of a check. • If a postdated check written by you has been returned unpaid. • If we confirm the balance in your account to a third party under your authorization. • If you desire us to furnish credit information related to your account. • If you desire copies of your records. • If you give us a standing instruction. The Bank will not be responsible if it refuses to pay a check you have issued if there are not enough funds in the account after we have deducted a service charge.
State Bank of India New York Customer Manual for Deposits 22 The Bank also reserves the right to close your accounts without any prior notice for any reason in the Bank’s sole discretion. The Bank will mail you a check for the balance in the accounts. The Bank may give you notice before taking this step, although we are not obliged to do so. We also reserve the right to close your account if your account has a NIL balance for more than three (3) months. Payment of interest on your account (if your account is interest-bearing) will cease from the date of closure of the account. Checking and Money Market Deposit Accounts cannot be negotiated or transferred to another individual or corporation or entity. o. Bank’s Liability: If the Bank does not complete a transfer to or from your account in time or for the correct amount as per your agreement with us, we will be liable for your direct losses or damages but not any indirect costs or punitive costs or damages. However, the Bank will not be liable in circumstances such as:  The funds in your account are not sufficient to affect the transfer  The automated teller machine where you were making the transfer has a communication failure.  The automated teller machine did not have enough cash  If circumstances beyond our control prevent the transfer.  If we are unable to confirm the transaction with you (if required)  Any other exceptions stated in our agreement with you.
State Bank of India New York Customer Manual for Deposits 19  If there is no prior, agreed arrangement regarding the mode of conveying payment instruction. f. Cash Withdrawal: You may withdraw in cash from your Money Market Deposit Account and from your Checking Account, up to your available balance, at the teller counter of the Bank by using special withdrawal forms or through your personalized checks. The teller may ask you to provide a valid State ID for cash withdrawal. You may also withdraw cash from your Money Market Deposit Account or Checking Account at an ATM machine using the debit card associated to your account up to the permissible limits. Checks up to $3,000, written by you on your Checking Account or Money Market Deposit Account to another person as payee, will be paid to that person when he/she presents suitable identification. For checks over $3,000 the Bank reserves the right to ask a payee to deposit the check in a bank account, unless you have made a prior written request that we cash the check and we have agreed to your request. h. Stop Payment Order: Any one of the account holders can instruct us in writing to stop payment on any check unless it has already been paid. In respect of a certified check or cashier’s/official check, the remitter or payee can instruct us, at any time up to 90 days from the date of issue, for reasons such as instrument destroyed, lost or in wrongful possession of an unknown person, or a person that cannot be found or is not amenable to service of process, if the check has not already been paid. You can also stop check online through “YONO US Portal” by using your login credentials. The maximum number of checks in a range which can be stopped in single attempt is 10. The charges shall be as enumerated in “Schedule of Fees & Charges”.
State Bank of India New York Customer Manual for Deposits 46 Deposited checks returned unpaid # $10 $10 Closing of Checking or Money Market account within 3 months of opening $25 $25 Listing of Stop Payment request valid for 6 months per check, per ACH debit or debit card preauthorized transfers stopped (maximum $50 at one time) $15 $15 Stop Check Request through YONO US Portal (Min. 1 leaf Max: 10 leaves within same range) $15 for one leaf $30 for 2 leaves $45 for 3 leaves $50 for 4-10 leaves Not Applicable Cancellation of Stop Payment request per check, ACH debit or debit card preauthorized transfers stopped $15 $15 Expedited Delivery of Debit Card Actual cost charged by the service provider -- Per item charge for copy of paid checks/deposited checks, withdrawals or tickets - For current calendar year - For previous calendar year - For other years (up to 5 previous years) *per preceding year beyond previous year $5 $10 $15 * $5 $10 $15 * Charges per page of account statements - For current calendar year - For previous calendar year - For all other years (up to 5 previous years) *per preceding year beyond previous year $5 $10 $15 * $5 $10 $15 * Transfer of funds from Checking to MMD or vice-versa (per transfer) / between two accounts Manual transfer Online transfer $5 Free $5 Free Credit reference $10 $10 Issue of local official checks/certified checks $10 $10 Cash handling charges (per thousand or part thereof after first $1000 deposit in a day) NIL for less than $1000 $2 $2
State Bank of India New York Customer Manual for Deposits 30 offices are collectively referred to as SBI-US in this Notice. What we do How does SBI–US protect my personal information? To protect your personal information from unauthorized access and use, we use security measures that comply with federal law. SBI-US has established physical, technological and procedural systems and controls for protecting the confidentiality of your personal information. SBI-US employees undergo training on protecting customer information. How does SBI–US collect my personal information? We collect your personal information, for example, when you Open an account or deposit money Pay your bills or apply for a loan Use your credit or debit card We also collect your personal information from credit bureaus. Why can't I limit all sharing? Federal law gives you the right to limit only Sharing for affiliates’ everyday business purposes- information about your creditworthiness Affiliates from using your information to market to you Sharing for non-affiliates to market to you State laws and individual companies may give you additional rights to limit sharing. See below for more on your rights under state law.

Test Case

Question: What is the minimum balance required to open a Checking Account?

Metric Baseline Score Current Score
answer_accuracy 0.76530598 0.82645358 (+0.06114759)
groundedness 0.91607942 0.93402189 (+0.01794247)
mean_answer_similarity 0.81768757 0.84835882 (+0.03067125)
mean_reciprocal_rank 1.00000000 1.00000000
min_answer_similarity 0.76530598 0.82645358 (+0.06114759)
model_failures 0.00000000 0.00000000
model_generation_failures 0.00000000 0.00000000
model_parse_failures 0.00000000 0.00000000
model_passes 1.00000000 1.00000000
model_retrieval_failures 0.00000000 0.00000000
precision_relevancy 0.86509230 0.86615051 (+0.00105822)
recall_relevancy 0.92084247 0.92084247
rouge_1 0.21138211 0.20472441 (-0.00665770)
rouge_2 0.11570248 0.11200000 (-0.00370248)
rouge_l 0.17886179 0.17322835 (-0.00563344)

Legend:

  • Metric : The evaluation metric name. Shown in bold red if the metric flipped between pass/fail status.
  • Baseline Score : The metric value for the baseline model. Shown in bold green if baseline won, red if lost.
  • Current Score : The metric value for the current model, followed by the delta from baseline in parentheses.
  • Delta Colors : Green = improvement, Orange = regression, Red = metric flipped to fail.
  • Winner Determination : For each metric, the winner is determined by comparing scores while considering the metric's directionality (higher is better vs. lower is better).
Baseline Result Current Result
Model claude-3-7-sonnet-20250219@h2ogpte claude-3-7-sonnet-20250219@h2ogpte
Question What is the minimum balance required to open a Checking Account?
Expected answer $1,000 for US Resident Consumer and $20,000 for US Resident Business/Associations
Actual Answer According to the document, the minimum deposit required for opening a Checking Account is the minimum daily balance requirement for the account, which varies based on customer type: For US Resident customers: - Consumer accounts: $1,000 - Business/Associations accounts: $20,000 For Non-US Resident customers: - Consumer accounts: $10,000 - Business/Associations accounts: $50,000 There is also a Basic Checking Account option available specifically for New York State residents, which requires a minimum deposit of only $25 to open. If the balance falls below the required minimum on any day of the month, a monthly service charge will be imposed as listed in the Schedule of Fees & Charges. According to the document, the minimum balance required to open a Checking Account varies based on the customer type: For US Resident customers: - Consumer accounts: $1,000 - Business/Associations accounts: $20,000 For Non-US Resident customers: - Consumer accounts: $10,000 - Business/Associations accounts: $50,000 This information is found on page 10 of the State Bank of India New York Customer Manual for Deposits, which states: "The minimum deposit required for opening an account is the minimum daily balance requirement for the account which is tabled below." There is also a Basic Checking Account option available specifically for New York State residents, which requires a minimum deposit of only $25 to open.
Retrieved Context
Information about you and your occupation or business activity is required so that we can understand and serve you better. For any type of account, we may need additional documentation either at the time of opening of account and / or at any time while the account is open. The Bank reserves the right to refuse to open an account and the submission of all required documents will not obligate the
3.5 Limited Liability Company (“LLC”) The following documents are required:  The LLC’s organizational documents (Articles of Organization and Operating Agreement)  The names of all the members and managers of the LLC shall be provided with all the same identification as required for corporations above.  A certified copy of a resolution of the Managers of the LLC providing all the same information required in the corporate resolution set forth above.  Certificate of Beneficial owners, wherever applicable. 4. TYPES OF ACCOUNTS Three types of deposit accounts may be opened:  Checking Account  Money Market Deposit (MMD) Account  Certificate of Deposit (CD) Account 4.1 Checking Account This is a non-interest bearing account with no restrictions on the number of withdrawals or credits. However, Bank has the discretion to pay interest on a product variant. The minimum deposit required for opening an account is the minimum daily balance requirement for the account which is tabled below. The daily minimum balance required to be maintained to avoid monthly service charges are as follows:
IMPORTANT INFORMATION ABOUT PROCEDURES FOR OPENING A NEW ACCOUNT CIP and Beneficial Owners Notice: To help the government fight the funding of terrorism and money laundering activities, Federal law requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account, and the beneficial owners of legal entity customers. What this means for you: When you open an account, we will ask for your name, address, date of birth, employment details and other information that will allow us to identify you. We may also ask for your driver’s license or other identifying documents. We may also use the services of third party service providers to verify your identity based on information provided by you. Effective May 11, 2018, new rules under the Bank Secrecy Act will aid the government in the fight against crimes to evade financial measures designed to combat terrorism and other national security threats. Each time an account is opened for a covered Legal Entity, we are required to ask you for identifying information (name, address, date of birth, social security number as well as identification documents) for:  Each individual that has beneficial ownership (25% or more); and,  One individual that has significant managerial control, of the Legal Entity.
State Bank of India New York Customer Manual for Deposits 10 Consumer Account Business/ Associations US Resident $1,000 $20,000 Non- US Resident $10,000 $50,000 A minimum balance service charge as listed in our “Schedule of Fees & Charges” in this Manual will be imposed every month if the balance in the account falls below the required minimum during any day of a calendar month. If the balance is less than the amount required to be deducted as a service charge, the available balance will be treated as service charges and the account may be closed forthwith, with notice to the customer at the last available address in our records. A checking account for a Non US resident consumer or business/association will be opened at the sole discretion of the Bank and as per its policy, either on the same terms and conditions as for U.S.-resident customers or on separate terms and conditions. No overdraft is permitted under any circumstances in this account. Any check presented with insufficient funds will be dishonored. Service charges are listed in our “Schedule of Fees & Charges” in this Manual. Early closure fees will apply if you close your account within three months of opening. The Bank will provide a statement of account at monthly intervals. 4.1.1 Basic Checking Account In order to provide low cost banking services, we offer “basic banking” checking accounts to all consumers who fulfill the following requirements: • Residents of New York State. • The consumer is required to close all other transaction accounts with our Bank or any other banking institution and will be given a period of 60 days (from the date the basic banking account is opened) to do so. If other transaction account/s is/are not closed within 60 days, the said basic checking account shall be closed by the Bank. • Receive direct credit of a recurring payment such as Social Security, wages or pension payments. • Have limited monthly transactions. • Desire basic checking services. Salient Features of Basic Checking Accounts a. Minimum deposit to open the account: $25. b. Minimum monthly balance required to be maintained: No minimum balance. c. Monthly maintenance fee: i) Nil, if the daily balance is $500 or more. ii) Otherwise $3 per month.
e. Withdrawals: When writing checks on your Checking or Money Market Deposit Account, please ensure that:  The amount is stated in US dollars;  The amount is within the available balance in your account. The available balance in your account may be affected because of other transactions, including debit card transactions. Checks which exceed the available balance in your account may be returned unpaid and are subject to a charge as indicated in “Schedule of Fees & Charges”. The Bank reserves the right to pay a stale check, i.e., a check more than 6 months old. A request for a withdrawal or transfer may not be honored in circumstances such as, but not limited to, these:  If the Bank has instructions to the contrary from a joint account holder. In such cases the signatures of all account holders would be required on any authorization.  If a court order/legal process prohibits the Bank from doing so.  If the Bank suspects fraud or violation, including money laundering.  If there is a dispute to the Bank’s knowledge.  If the account is pledged as collateral and has been set-off against overdue debts.  If the account is seized by State /Federal agency.  If the payee is not properly identified to us.  If the withdrawal/transfer exceeds the permissible number (e.g., more than 6 checks per statement period in Money Market Deposit Accounts).
State Bank of India New York Customer Manual for Deposits 45 B. Service Fees & Charges Consumer Accounts Accounts of Business/ Associations Excess Transaction charges – Each transaction in Money Market Accounts in excess of 6 transfers or withdrawals or a combination of these in a statement period. $5 $5 Checks returned or paid against insufficient or unavailable funds # $10 $15 SCHEDULE OF FEES & CHARGES Minimum Balance Requirements & Service Charges Checking Account Money Market Account Consumer A/C Business/Associations Consumer A/c Business/Associations USA Resident Minimum daily balance 1,000 $ 20,000 $2,500 $ 50,000 Monthly service charge (if the balance falls below minimum on any day of the month) $15* (effective 01/01/2020) $ 50 $20* (effective 01/01/2020) $ 50 Non-USA Resident Minimum daily balance Opened at the sole discretion of the Bank and as per its Policy. Minimum balance is $10,000 Opened at the sole discretion of the Bank and as per its Policy. Minimum balance is $ 50,000 Opened at the sole discretion of the Bank and as per its Policy. Minimum balance is $ 25,000 Opened at the sole discretion of the Bank and as per its Policy. Minimum balance is $ 100,000 Monthly service charge (if the balance falls below minimum on any day of the month) $20* (effective 01/01/2020) $50 $25* (effective 01/01/2020) $50 Note : Consumer accounts = Accounts of natural persons
State Bank of India New York Customer Manual for Deposits 3 ANNEXURE A CUSTOMER MANUAL 2024: SCHEDULE OF CHANGES Page Previous Version Current Version 10 Basic Checking Account In order to provide low cost banking services, we offer “basic banking” checking accounts to all consumers who fulfill the following requirements: • Residents of New York State who do not maintain any transaction account with the Bank. Basic Checking Account In order to provide low cost banking services, we offer “basic banking” checking accounts to all consumers who fulfill the following requirements: •Residents of New York State. •The consumer is required to close all other transaction accounts with our Bank or any other banking institution and will be given a period of 60 days (from the date the basic banking account is opened) to do so. If other transaction account/s is/are not closed within 60 days, the said basic checking account shall be closed by the Bank. 21 Change of Address, e-mail address, telephone number and account details: Bank may ask you to update your account information through remediation form as and when there is any material change, or whenever bank requires. If this information is not provided within a reasonable time (30 days), the Bank may decide to decline further transactions in the account and may also close the account if not received the same in 60 days.
c. Deposits: You can make deposits: • By check in person, during regular banking hours at the teller counter at the Bank. (Our regular banking hours are 9 AM - 4 PM ET Monday through Friday. Cash services are available only up to 3 PM ET) • By check in mail • By wire transfer • By pre-authorized credit such as for Social Security benefits • By cash in person, at our discretion Cash deposits may be subject to the Bank Secrecy Act reporting provisions. You may be asked to show a valid state id for cash deposit. There are no restrictions on the number of deposits in both Checking and Money Market Deposit Accounts. Funds will be made available in Checking Accounts as described in section 8 “Funds Availability.” The Bank maintains the right, for any reason or for no reason, to refuse to accept a deposit, or return in full or in part any deposit. Note - Check received in mail on any given day will be processed only on next business day. d. The Bank as Collecting Agent: The Bank accepts items for deposit or collection, as your collecting agent, subject to the following conditions:  All items will be credited subject to actual payment.  If payment is not received and the instrument is returned unpaid, the Bank shall have the right to charge back the item to your account. A service charge will also be levied for checks returned unpaid.
The following is indicative list of eligible non-limited transactions:  Deposits  ATM Cash withdrawals subject to daily amount limits and sufficient available funds in the account  Withdrawals made in person or by mail at State Bank of India New York  Transfers made in person at State Bank of India New York The following is indicative list of transactions subject to the limit of (SIX) transfers:  Checks, Point of Sale (POS) transactions or debit card purchases  Automatic transfers to another deposit account at SBI, New York  Automatic transfers to a third party or another institution  Telephonic transfers including those initiated by phone call, fax, email through a Bank's representative  Online banking transfers and bill payments Should more than 6 (six) transfers or withdrawals which are subject to the limit, be effected in a month in an MMDA account, an excess check writing fee of $5.00 per excess check or transfer will be levied. Further, if the customer continues to violate the prescribed limit repeatedly, we shall send a letter to the customer, notifying him/her of the violation and also of our policy for reclassifying the account as Checking Account. In case the customer is not agreeable for reclassification, the account will be closed. The Bank reserves the right to enforce this clause if prescribed limits are violated in three consecutive months. We also reserve the right to refuse any transaction(s) which exceed the permissible limit. We are required by law to reserve the right of 7 days’ advance notice before permitting a withdrawal. However, we do not currently exercise this right.
State Bank of India New York Customer Manual for Deposits 46 Deposited checks returned unpaid # $10 $10 Closing of Checking or Money Market account within 3 months of opening $25 $25 Listing of Stop Payment request valid for 6 months per check, per ACH debit or debit card preauthorized transfers stopped (maximum $50 at one time) $15 $15 Stop Check Request through YONO US Portal (Min. 1 leaf Max: 10 leaves within same range) $15 for one leaf $30 for 2 leaves $45 for 3 leaves $50 for 4-10 leaves Not Applicable Cancellation of Stop Payment request per check, ACH debit or debit card preauthorized transfers stopped $15 $15 Expedited Delivery of Debit Card Actual cost charged by the service provider -- Per item charge for copy of paid checks/deposited checks, withdrawals or tickets - For current calendar year - For previous calendar year - For other years (up to 5 previous years) *per preceding year beyond previous year $5 $10 $15 * $5 $10 $15 * Charges per page of account statements - For current calendar year - For previous calendar year - For all other years (up to 5 previous years) *per preceding year beyond previous year $5 $10 $15 * $5 $10 $15 * Transfer of funds from Checking to MMD or vice-versa (per transfer) / between two accounts Manual transfer Online transfer $5 Free $5 Free Credit reference $10 $10 Issue of local official checks/certified checks $10 $10 Cash handling charges (per thousand or part thereof after first $1000 deposit in a day) NIL for less than $1000 $2 $2
Information about you and your occupation or business activity is required so that we can understand and serve you better. For any type of account, we may need additional documentation either at the time of opening of account and / or at any time while the account is open. The Bank reserves the right to refuse to open an account and the submission of all required documents will not obligate the
State Bank of India New York Customer Manual for Deposits 7 Bank to open the account. h) If you reside outside the United States and desire to open an account, you should send photocopies of passports duly attested by the Indian Embassy/High Commission of India or by a branch of State Bank of India. i) If you are a corporation or foreign partnership and desire to open an account in that name, the requirements may vary as detailed under ‘Accounts of Businesses’ listed under item 3. j) Individuals should apply on form DEP-1 and non-individuals should apply on form DEP-3. These forms contain a check-list of documents required and formalities to be completed for opening of accounts. Existing account holders wishing to open additional CDs should apply on form DEP-CD. k) Bank reserves the right to ask for additional documents on a case to case basis. l) In the event that we are unable to verify your address upon account opening, we will send you a letter through USPS certified mail/FedEx with a return acknowledgement receipt to confirm the address. In the event that the acknowledgement receipt is not returned to us within thirty (30) days from the account opening date, we may close the account.
3.5 Limited Liability Company (“LLC”) The following documents are required:  The LLC’s organizational documents (Articles of Organization and Operating Agreement)  The names of all the members and managers of the LLC shall be provided with all the same identification as required for corporations above.  A certified copy of a resolution of the Managers of the LLC providing all the same information required in the corporate resolution set forth above.  Certificate of Beneficial owners, wherever applicable. 4. TYPES OF ACCOUNTS Three types of deposit accounts may be opened:  Checking Account  Money Market Deposit (MMD) Account  Certificate of Deposit (CD) Account 4.1 Checking Account This is a non-interest bearing account with no restrictions on the number of withdrawals or credits. However, Bank has the discretion to pay interest on a product variant. The minimum deposit required for opening an account is the minimum daily balance requirement for the account which is tabled below. The daily minimum balance required to be maintained to avoid monthly service charges are as follows:
IMPORTANT INFORMATION ABOUT PROCEDURES FOR OPENING A NEW ACCOUNT CIP and Beneficial Owners Notice: To help the government fight the funding of terrorism and money laundering activities, Federal law requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account, and the beneficial owners of legal entity customers. What this means for you: When you open an account, we will ask for your name, address, date of birth, employment details and other information that will allow us to identify you. We may also ask for your driver’s license or other identifying documents. We may also use the services of third party service providers to verify your identity based on information provided by you. Effective May 11, 2018, new rules under the Bank Secrecy Act will aid the government in the fight against crimes to evade financial measures designed to combat terrorism and other national security threats. Each time an account is opened for a covered Legal Entity, we are required to ask you for identifying information (name, address, date of birth, social security number as well as identification documents) for:  Each individual that has beneficial ownership (25% or more); and,  One individual that has significant managerial control, of the Legal Entity.
State Bank of India New York Customer Manual for Deposits 45 B. Service Fees & Charges Consumer Accounts Accounts of Business/ Associations Excess Transaction charges – Each transaction in Money Market Accounts in excess of 6 transfers or withdrawals or a combination of these in a statement period. $5 $5 Checks returned or paid against insufficient or unavailable funds # $10 $15 SCHEDULE OF FEES & CHARGES Minimum Balance Requirements & Service Charges Checking Account Money Market Account Consumer A/C Business/Associations Consumer A/c Business/Associations USA Resident Minimum daily balance 1,000 $ 20,000 $2,500 $ 50,000 Monthly service charge (if the balance falls below minimum on any day of the month) $15* (effective 01/01/2020) $ 50 $20* (effective 01/01/2020) $ 50 Non-USA Resident Minimum daily balance Opened at the sole discretion of the Bank and as per its Policy. Minimum balance is $10,000 Opened at the sole discretion of the Bank and as per its Policy. Minimum balance is $ 50,000 Opened at the sole discretion of the Bank and as per its Policy. Minimum balance is $ 25,000 Opened at the sole discretion of the Bank and as per its Policy. Minimum balance is $ 100,000 Monthly service charge (if the balance falls below minimum on any day of the month) $20* (effective 01/01/2020) $50 $25* (effective 01/01/2020) $50 Note : Consumer accounts = Accounts of natural persons
State Bank of India New York Customer Manual for Deposits 46 Deposited checks returned unpaid # $10 $10 Closing of Checking or Money Market account within 3 months of opening $25 $25 Listing of Stop Payment request valid for 6 months per check, per ACH debit or debit card preauthorized transfers stopped (maximum $50 at one time) $15 $15 Stop Check Request through YONO US Portal (Min. 1 leaf Max: 10 leaves within same range) $15 for one leaf $30 for 2 leaves $45 for 3 leaves $50 for 4-10 leaves Not Applicable Cancellation of Stop Payment request per check, ACH debit or debit card preauthorized transfers stopped $15 $15 Expedited Delivery of Debit Card Actual cost charged by the service provider -- Per item charge for copy of paid checks/deposited checks, withdrawals or tickets - For current calendar year - For previous calendar year - For other years (up to 5 previous years) *per preceding year beyond previous year $5 $10 $15 * $5 $10 $15 * Charges per page of account statements - For current calendar year - For previous calendar year - For all other years (up to 5 previous years) *per preceding year beyond previous year $5 $10 $15 * $5 $10 $15 * Transfer of funds from Checking to MMD or vice-versa (per transfer) / between two accounts Manual transfer Online transfer $5 Free $5 Free Credit reference $10 $10 Issue of local official checks/certified checks $10 $10 Cash handling charges (per thousand or part thereof after first $1000 deposit in a day) NIL for less than $1000 $2 $2
State Bank of India New York Customer Manual for Deposits 10 Consumer Account Business/ Associations US Resident $1,000 $20,000 Non- US Resident $10,000 $50,000 A minimum balance service charge as listed in our “Schedule of Fees & Charges” in this Manual will be imposed every month if the balance in the account falls below the required minimum during any day of a calendar month. If the balance is less than the amount required to be deducted as a service charge, the available balance will be treated as service charges and the account may be closed forthwith, with notice to the customer at the last available address in our records. A checking account for a Non US resident consumer or business/association will be opened at the sole discretion of the Bank and as per its policy, either on the same terms and conditions as for U.S.-resident customers or on separate terms and conditions. No overdraft is permitted under any circumstances in this account. Any check presented with insufficient funds will be dishonored. Service charges are listed in our “Schedule of Fees & Charges” in this Manual. Early closure fees will apply if you close your account within three months of opening. The Bank will provide a statement of account at monthly intervals. 4.1.1 Basic Checking Account In order to provide low cost banking services, we offer “basic banking” checking accounts to all consumers who fulfill the following requirements: • Residents of New York State. • The consumer is required to close all other transaction accounts with our Bank or any other banking institution and will be given a period of 60 days (from the date the basic banking account is opened) to do so. If other transaction account/s is/are not closed within 60 days, the said basic checking account shall be closed by the Bank. • Receive direct credit of a recurring payment such as Social Security, wages or pension payments. • Have limited monthly transactions. • Desire basic checking services. Salient Features of Basic Checking Accounts a. Minimum deposit to open the account: $25. b. Minimum monthly balance required to be maintained: No minimum balance. c. Monthly maintenance fee: i) Nil, if the daily balance is $500 or more. ii) Otherwise $3 per month.
State Bank of India New York Customer Manual for Deposits 30 offices are collectively referred to as SBI-US in this Notice. What we do How does SBI–US protect my personal information? To protect your personal information from unauthorized access and use, we use security measures that comply with federal law. SBI-US has established physical, technological and procedural systems and controls for protecting the confidentiality of your personal information. SBI-US employees undergo training on protecting customer information. How does SBI–US collect my personal information? We collect your personal information, for example, when you Open an account or deposit money Pay your bills or apply for a loan Use your credit or debit card We also collect your personal information from credit bureaus. Why can't I limit all sharing? Federal law gives you the right to limit only Sharing for affiliates’ everyday business purposes- information about your creditworthiness Affiliates from using your information to market to you Sharing for non-affiliates to market to you State laws and individual companies may give you additional rights to limit sharing. See below for more on your rights under state law.
e. Withdrawals: When writing checks on your Checking or Money Market Deposit Account, please ensure that:  The amount is stated in US dollars;  The amount is within the available balance in your account. The available balance in your account may be affected because of other transactions, including debit card transactions. Checks which exceed the available balance in your account may be returned unpaid and are subject to a charge as indicated in “Schedule of Fees & Charges”. The Bank reserves the right to pay a stale check, i.e., a check more than 6 months old. A request for a withdrawal or transfer may not be honored in circumstances such as, but not limited to, these:  If the Bank has instructions to the contrary from a joint account holder. In such cases the signatures of all account holders would be required on any authorization.  If a court order/legal process prohibits the Bank from doing so.  If the Bank suspects fraud or violation, including money laundering.  If there is a dispute to the Bank’s knowledge.  If the account is pledged as collateral and has been set-off against overdue debts.  If the account is seized by State /Federal agency.  If the payee is not properly identified to us.  If the withdrawal/transfer exceeds the permissible number (e.g., more than 6 checks per statement period in Money Market Deposit Accounts).
State Bank of India New York Customer Manual for Deposits 11 age or older. For every additional withdrawal or check beyond above mentioned number in a statement cycle, $5 will be recovered e. Restriction on the number of credits/deposits: No restriction. f. Availability of account statement and frequency of monthly statement: Account statements at monthly intervals will be provided. 4.2 Money Market Deposit (MMD) Account This is an interest-bearing account from which withdrawals can be made in accordance with certain prescribed restrictions. Tiered interest rate is available on money market accounts based on the balances available in the account. The minimum deposit required for opening an account is the minimum daily balance requirement for the account which is tabled below. The daily minimum balances required to be maintained to avoid monthly service charges are as follows: Consumer Account Business/ Associations US Resident Customer $2,500 $50,000 Non-US Resident Customer $25,000 $ 100,000 A minimum balance service charge as listed in our “Schedule of Fees & Charges” in this Manual will be imposed every month if the balance in the account falls below the required minimum during any day of a calendar month. If the balance is less than the amount required to be deducted as service charge, the so available balance will be treated as service charges and the account may be closed forthwith, with notice to the customer at the last available address in our records. No overdraft is permitted under any circumstances in this account. Any check presented with insufficient funds will be dishonored. Service charges are listed in our “Schedule of Fees & Charges” in this Manual. A Money Market Deposit Account for Non-US Resident consumer or business/association would be opened at the sole discretion of the Bank and as per its policy, either on the same terms and conditions as for U.S- resident customers or on mutually agreed terms and conditions. Monthly service charges are listed in our “Schedule of Fees & Charges” in this Manual. Early closure fees will apply if you close your account within three months of opening. Other Features of Money Market Deposit Accounts a. Interest Rate: Tiered interest rate is available on MMD accounts based on the balances available in account. Interest rate on these accounts may vary from time to time. The Bank reserves the right to change the rate at any time. There is no limitation as to the percentage amount the interest rate may vary. You may visit our website https://sbinewyork.statebank or call (212) 521-3200 for information on the current rate of interest. b. Payment of Interest: Interest will accrue on your day-end balance. Interest earned during the month will be credited to the account at the close of business on the last business day of the month and will be made available to you on the first business day of the following month. There is no minimum balance required to earn the stated annual percentage yield. For non-cash deposits made into your account (for example checks) interest begins to accrue no later than the business day we receive credit for the deposit of the non-cash items. If the account is closed during the middle of a

Test Case

Question: What is the purpose of the Limitation of Bank's Liability section?

Metric Baseline Score Current Score
answer_accuracy 0.79419254 0.78889964 (-0.00529290)
groundedness 0.85907652 0.82308353 (-0.03599299)
mean_answer_similarity 0.87270692 0.84749408 (-0.02521284)
mean_reciprocal_rank 1.00000000 1.00000000
min_answer_similarity 0.79419254 0.78889964 (-0.00529290)
model_failures 0.00000000 1.00000000 (+1.00000000)
model_generation_failures 0.00000000 1.00000000 (+1.00000000)
model_parse_failures 0.00000000 0.00000000
model_passes 1.00000000 0.00000000 (-1.00000000)
model_retrieval_failures 0.00000000 0.00000000
precision_relevancy 0.86119597 0.86119597
recall_relevancy 0.91016997 0.91016997
rouge_1 0.17490494 0.16197183 (-0.01293311)
rouge_2 0.13793103 0.12056738 (-0.01736366)
rouge_l 0.15969582 0.14788732 (-0.01180849)

Legend:

  • Metric : The evaluation metric name. Shown in bold red if the metric flipped between pass/fail status.
  • Baseline Score : The metric value for the baseline model. Shown in bold green if baseline won, red if lost.
  • Current Score : The metric value for the current model, followed by the delta from baseline in parentheses.
  • Delta Colors : Green = improvement, Orange = regression, Red = metric flipped to fail.
  • Winner Determination : For each metric, the winner is determined by comparing scores while considering the metric's directionality (higher is better vs. lower is better).
Baseline Result Current Result
Model claude-3-7-sonnet-20250219@h2ogpte claude-3-7-sonnet-20250219@h2ogpte
Question What is the purpose of the Limitation of Bank's Liability section?
Expected answer The Limitation of Bank's Liability section outlines the circumstances under which the bank will not be liable for losses or damages suffered by customers.
Actual Answer According to the document, the purpose of the Limitation of Bank's Liability section is to outline specific circumstances under which the bank would not be held liable for losses or damages related to transactions, transfers, or other banking services. The section specifically lists exceptions where the bank would not be responsible, including: 1. When there are insufficient funds in the customer's account to complete a transfer 2. When a transfer would exceed the credit limit on an overdraft line 3. When an ATM doesn't have enough cash for a withdrawal 4. When the system was not working properly and the customer was aware of the breakdown 5. When circumstances beyond the bank's control (such as fire or flood) prevent the transfer despite reasonable precautions The document also mentions that for electronic transfers, while the bank will be liable for direct losses or damages if they don't complete a transfer correctly or on time, they will not be liable for indirect costs or punitive damages. Additionally, for card transactions, the bank limits its liability for various situations including unauthorized transactions due to customer negligence, merchant refusals to honor cards, computer system intrusions, and failures resulting from force majeure events. This section essentially serves to define the boundaries of the bank's responsibilities and protect the bank from liability in specific circumstances that are outside its control or that result from customer error or negligence. According to the document, the Limitation of Bank's Liability section serves to outline specific circumstances under which the bank would not be held liable for losses or damages related to account transactions. This section appears in multiple places in the document (pages 22, 53, and 56) and specifies situations where the bank is exempt from liability, including: 1. When there are insufficient funds in the customer's account to complete a transfer 2. When a transfer would exceed the credit limit on an overdraft line 3. When an ATM doesn't have enough cash for a withdrawal 4. When the system was not working properly and the customer was aware of the breakdown 5. When circumstances beyond the bank's control (such as fire or flood) prevent the transfer 6. For unauthorized transactions due to the cardholder's fraudulent or negligent conduct 7. For ATM or merchant establishment refusal to honor the card 8. For intrusion or hacking into the bank's computer systems or networks 9. For failure to carry out instructions due to legal restrictions on funds 10. For failure to access accounts due to force majeure events or technical problems The purpose of this section is to clearly define the boundaries of the bank's responsibility and to inform customers about situations where the bank cannot be held liable for problems with transactions or account access, while still acknowledging that the bank will be liable for losses or damages in situations where they fail to complete transfers correctly according to their agreement with the customer.
Retrieved Context
State Bank of India New York Customer Manual for Deposits 22 The Bank also reserves the right to close your accounts without any prior notice for any reason in the Bank’s sole discretion. The Bank will mail you a check for the balance in the accounts. The Bank may give you notice before taking this step, although we are not obliged to do so. We also reserve the right to close your account if your account has a NIL balance for more than three (3) months. Payment of interest on your account (if your account is interest-bearing) will cease from the date of closure of the account. Checking and Money Market Deposit Accounts cannot be negotiated or transferred to another individual or corporation or entity. o. Bank’s Liability: If the Bank does not complete a transfer to or from your account in time or for the correct amount as per your agreement with us, we will be liable for your direct losses or damages but not any indirect costs or punitive costs or damages. However, the Bank will not be liable in circumstances such as:  The funds in your account are not sufficient to affect the transfer  The automated teller machine where you were making the transfer has a communication failure.  The automated teller machine did not have enough cash  If circumstances beyond our control prevent the transfer.  If we are unable to confirm the transaction with you (if required)  Any other exceptions stated in our agreement with you.
State Bank of India New York Customer Manual for Deposits 56 and other applicable laws, may keep records or make reports of high-dollar transactions, suspicious activities, or foreign currency transactions, as necessary to comply with the law and to detect and prevent illegal activity. There are serious civil and criminal consequences to engaging in illegal financial transactions. 13. Limitation of Bank’s Liability: If we do not complete a transfer to or from your account on time or in the correct amount according to our agreement with you, we will be liable for your losses or damages as further described herein. However, there are some exceptions. We will not be liable, for instance: (1) If, through no fault of ours, you do not have enough money in your account to make the transfer. (2) If the transfer would go over the credit limit on your overdraft line. (3) If the automated teller machine where you are making the transfer does not have enough cash. (4) If the system was not working properly and you knew about the breakdown when you started the transfer. (5) If circumstances beyond our control (such as fire or flood) prevent the transfer, despite reasonable precautions that we have taken.
State Bank of India New York Customer Manual for Deposits 27 on the subsequent account holder who has SSN or EIN. 5.5 Restricted Access to Accounts: Restrictions may be placed on accounts assigned as collateral for the Bank’s loan to you or where you are a co-obligor. Such accounts, if interest bearing, will, however, continue to earn interest. If all or parts of your deposits are attached in connection with a legal action, such attached funds would be kept separately and would earn no interest, nor will such accounts be considered as part of the balance for determining service charges. Your deposits may also be seized by the United States Government or a state government. No interest would be payable even if such funds are subsequently returned to you. 5.6 Accounts of Deceased Persons: In the event of death of a depositor, bank will be guided by the instructions given by the account holder as per the DOB (Designation of Beneficiary) form. It is the Bank’s policy that it can only accept Designations where all beneficiaries have equal shares and each Beneficiary will be an adult (as defined by New York Law). In the event a Beneficiary pre-deceases the Account Holder(s) the surviving Beneficiaries will be entitled to an equal share of the balance of the Account. A new beneficiary form must be created if the account number is changed. The Bank shall have no liability or responsibility whatsoever, for any claims arising from the Bank’s actions, and the Bank shall be fully indemnified for any and all losses, damages, costs, etc. The Designation of Beneficiary form will be effective from the date State Bank of India receives all relevant information required by the form and will supersede any previous Designation of Beneficiary that you might have made. You will have the right to change this designation of beneficiary and to designate a new beneficiary at any time by writing to State Bank of India, New York Branch. This designation is made under the laws of the State of New York which shall have exclusive and binding jurisdiction. All checks written on an account will be honored until we are advised in writing of the death of an account holder. On receipt of such notice the account will be blocked. In case of joint accounts with right to survivorship, the surviving account holder will be entitled to the balances in the account. 6. BANKING TERMINOLOGY • Annual Percentage Yield (APY): The effect of compounding on the interest rate over a one-year period, expressed as a percentage.
State Bank of India New York Customer Manual for Deposits 53 c) If you tell us about the error orally, in person or by telephone, we require that you send us your complaint or question in writing within ten business days. d) We shall tell you the results of our preliminary investigation within 10 business days after we hear from you and will correct any error promptly. Sometimes we may take up to 45 days to investigate certain complaints or questions. In such cases, we will provisionally credit your Account upon your indemnifying us within 10 business days for the amount you think is in error, so that you may have the use of the money during the time it takes us to complete our investigation. If we ask you to put your complaint or question in writing and we do not receive it within 10 business days, we may not credit your Account. e) For errors involving new Accounts, point-of-sale, or foreign-initiated transactions, we may take up to 90 days to investigate your complaint or question. For new Accounts we may take up to 20 business days to credit your Account for the amount you think is in error. If we decide there was no error, we will send you a written explanation within three business days after we finish our investigation. You may ask for copies of the documents that we used in our investigation. 13. Anti-Money Laundering: The Bank, to the extent required by federal law under the USA PATRIOT Act and others, may keep records or make reports of high-dollar Transactions, suspicious activity, or foreign currency Transactions, as necessary to comply with the law and to detect and prevent illegal activity. There are serious civil and criminal consequences to engaging in illegal financial transactions. 14. Limitation of Bank’s Liability: The Bank shall not be liable to the Card Holder or to any third party, for any loss or damage suffered due to the following reasons: a) Any action carried out by the Bank, in good faith, based upon the instructions of the Card Holder, exercising due diligence and reasonable care; b) Any unauthorized and illegal Transactions occurring through the use of Bank Account(s), which can be attributed to the fraudulent or negligent conduct of the Card Holder, to the extent permitted by law; c) Any ATM or Merchant Establishment refusal to honor the Card, for whatever reason; d) Intrusion or hacking into the computer system/network or communication network of the Bank, to the extent permitted by law; e) Failure to carry out any instructions of the Card Holder due to insufficiency of balance in the Card Holder’s Account(s) or if the card Holder’s funds are subject to legal process or other restriction; f) Failure of the Card Holder to access the Account due to any Force Majeure Event, Technical Problems, or any other reason beyond the control of the Bank; g) Failure of the Card Holder to keep confidential and secure, PIN or any passwords, keywords or other identification marks given to the Card Holder for operating of the Account and/or Card; h) Failure of the Card Holder to inform the Bank regarding any changes in the Card Holder’s personal information; i) Breach of any of the other terms and conditions stated herein or in the Customer Manual by the Card Holder; j) Non-debiting of Transaction amount instantly through ATM or Merchant Transactions;
State Bank of India New York Customer Manual for Deposits 12 month, accrued interest will be credited and paid. Accrued interest will be credited to your account prior to closing the same. c. Compounding Method: Your Money Market Deposit Account earn simple interest on a 360 days’ basis which accrues daily based on the end-of-the-day balance. The daily balance method will be used to calculate the interest on the account. This method applies a daily periodic rate to the principal in the account each day. Although interest accrues daily, you may not withdraw the earnings until the first business day of the following calendar month, when the same is credited into the account, provided the account is not closed. If not withdrawn, interest is added to and becomes part of the account balance. Since interest is added to your total account balance, any credited interest in the account is, effectively, compounded monthly. d. Annual Percentage Yield: The annual percentage yield earned (APYE) for the statement period will be advised with each monthly statement account. e. Withdrawals: A maximum of 6 transfers or withdrawals, or a combination of such transfers or withdrawals, are permitted during a calendar month or statement cycle of at least four weeks. For the purpose of this limit, preauthorized, automatic transfers (including but not limited to transfer from savings deposit for overdraft protection or for direct bill payments) and transfers and withdrawals initiated by telephone, facsimile, or computer and transfers made by check, debit card or other similar order made by the depositor and payable to third parties is included.
State Bank of India New York Customer Manual for Deposits 30 offices are collectively referred to as SBI-US in this Notice. What we do How does SBI–US protect my personal information? To protect your personal information from unauthorized access and use, we use security measures that comply with federal law. SBI-US has established physical, technological and procedural systems and controls for protecting the confidentiality of your personal information. SBI-US employees undergo training on protecting customer information. How does SBI–US collect my personal information? We collect your personal information, for example, when you Open an account or deposit money Pay your bills or apply for a loan Use your credit or debit card We also collect your personal information from credit bureaus. Why can't I limit all sharing? Federal law gives you the right to limit only Sharing for affiliates’ everyday business purposes- information about your creditworthiness Affiliates from using your information to market to you Sharing for non-affiliates to market to you State laws and individual companies may give you additional rights to limit sharing. See below for more on your rights under state law.
State Bank of India New York Customer Manual for Deposits 41 We may send the wire through such correspondents as appear appropriate to us in our sole discretion and we shall not be liable for their neglect or negligence. We are not under any obligation to detect errors or inconsistencies in any of your instructions. We will not be liable for any losses caused by errors or inaccuracies in your instructions. We will have the right, in our sole discretion, to reject any instructions, to set exposure limits on the amounts you may wire and impose additional conditions that must be satisfied before we will accept any instructions. i. Limits on Remittances. You will provide a statement of the purpose of the remittance. You may not transfer more than our specified maximum dollar limit in any single day. We may change any of the foregoing limits in our discretion at any time. Remittances may not be sent by us through or into any country in violation of U.S. laws. We will charge to and debit from the account identified in the instruction the amount of money specified in the instruction to be paid to the beneficiary designated therein and all fees and any costs and expenses. You must verify, prior to issuing an instruction for us to initiate a remittance, that funds are available in your account for us to initiate the remittance. If there are insufficient funds, we may, in our sole discretion: (i) execute the transaction, in which event, immediately upon our demand, you will pay to us all amounts sent and all fees and costs and expenses associated with the transfer; (ii) delay the remittance; or (iii) cancel the instruction and not complete the remittance. We will not have any liability to you or any other person for losses incurred by you or any other person when a remittance is not completed because there are not sufficient funds available. j. Limits on Liability and Indemnification. EXCEPT AS PROVIDED IN EXPRESS TERMS TO THE CONTRARY IN THIS MANUAL, THE SERVICE IS PROVIDED ON AN “AS IS”, “AS AVAILABLE” BASIS. WE MAKE NO WARRANTY, EXPRESS OR IMPLIED, TO YOU OR ANY OTHER PERSON REGARDING THE SERVICE, INCLUDING ANY WARRANTY OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE OR NONINFRINGEMENT. Subject to the limitations on our liability set forth in this Agreement, we will have liability to you for any losses you suffer or incur as a direct result of a material breach of this Agreement by us or as a direct result of our gross negligence or intentional misconduct in performing or failing to perform the Service. Our liability will be limited, however, as follows: (i) for delays in payment, our total liability to you or any person, including the beneficiary, will be limited to payment of interest for the period of delay; (ii) for non-completion of the instructions, our total liability to any person, including you, will be limited to reimbursement to such person of his or her actual out-of-pocket expenses in the funds transfer, and any actual out-of-pocket incidental expenses and interest losses; and (iii) for any other cause, the aggregate amount of the fees and charges paid by you to us for the Service during the prior 6 months. We will not be liable to you or any other person for, and you release us from liability with respect to (i) any indirect, consequential, special, incidental, exemplary or punitive damages, including loss of profits, loss of business or loss of data; or (ii) attorneys’ fees or fees of other professionals. You will fully indemnify us and hold us harmless, from and against all losses we may suffer or
State Bank of India New York Customer Manual for Deposits 11 age or older. For every additional withdrawal or check beyond above mentioned number in a statement cycle, $5 will be recovered e. Restriction on the number of credits/deposits: No restriction. f. Availability of account statement and frequency of monthly statement: Account statements at monthly intervals will be provided. 4.2 Money Market Deposit (MMD) Account This is an interest-bearing account from which withdrawals can be made in accordance with certain prescribed restrictions. Tiered interest rate is available on money market accounts based on the balances available in the account. The minimum deposit required for opening an account is the minimum daily balance requirement for the account which is tabled below. The daily minimum balances required to be maintained to avoid monthly service charges are as follows: Consumer Account Business/ Associations US Resident Customer $2,500 $50,000 Non-US Resident Customer $25,000 $ 100,000 A minimum balance service charge as listed in our “Schedule of Fees & Charges” in this Manual will be imposed every month if the balance in the account falls below the required minimum during any day of a calendar month. If the balance is less than the amount required to be deducted as service charge, the so available balance will be treated as service charges and the account may be closed forthwith, with notice to the customer at the last available address in our records. No overdraft is permitted under any circumstances in this account. Any check presented with insufficient funds will be dishonored. Service charges are listed in our “Schedule of Fees & Charges” in this Manual. A Money Market Deposit Account for Non-US Resident consumer or business/association would be opened at the sole discretion of the Bank and as per its policy, either on the same terms and conditions as for U.S- resident customers or on mutually agreed terms and conditions. Monthly service charges are listed in our “Schedule of Fees & Charges” in this Manual. Early closure fees will apply if you close your account within three months of opening. Other Features of Money Market Deposit Accounts a. Interest Rate: Tiered interest rate is available on MMD accounts based on the balances available in account. Interest rate on these accounts may vary from time to time. The Bank reserves the right to change the rate at any time. There is no limitation as to the percentage amount the interest rate may vary. You may visit our website https://sbinewyork.statebank or call (212) 521-3200 for information on the current rate of interest. b. Payment of Interest: Interest will accrue on your day-end balance. Interest earned during the month will be credited to the account at the close of business on the last business day of the month and will be made available to you on the first business day of the following month. There is no minimum balance required to earn the stated annual percentage yield. For non-cash deposits made into your account (for example checks) interest begins to accrue no later than the business day we receive credit for the deposit of the non-cash items. If the account is closed during the middle of a
State Bank of India New York Customer Manual for Deposits 44 decide not to agree to the terms and conditions discussed therein, you may not use Internet Banking. The Online Banking Terms of Service govern Internet Banking and supersede any inconsistent agreements or requirements. However, the terms of this Manual will govern and supersede any inconsistent statements contained in the Online Banking Terms of Service with regard to the (i) types of accounts that you may have with the Bank and the terms of those accounts; (ii) Bank’s rules governing wire transfers or international remittances including our liability to you and how we will inform you about the costs and fees and exchange rates for remittances and your ability to stop the remittance; (iii) Bank’s privacy and sharing of information policies and (iv) governing law of our agreement. Note: The customer is required to give full name (no initials) while creating recipient for the purpose of sending remittances. Thank You IMPORTANT If there is a conflict between the information stated in any Bank agreement or brochure/Manual (including this one) and something said by one of our employees, the written information will be used to resolve the conflict. The Bank may refuse to follow any instructions it believes is not permitted under law or regulation. The Manual is governed by and shall be interpreted under the laws of the State of New York. Any litigation shall be filed and heard only in the federal or state courts located in New York. State Bank of India reserves the right to change the Manual as required by law or Bank policy. Such changes may be displayed on the notice board in the Bank, posted on the website (https://sbinewyork.statebank) or advised to customers by mail. If you have any questions regarding the information provided in the Manual or your account relationship, you may contact us by mail by writing to the following address: State Bank of India DRS Department 460 Park Avenue New York Branch, NY 10022 U.S.A. Tel : General: (212)521-3200
State Bank of India New York Customer Manual for Deposits 55 (1) Tell us your name and account number (if any). (2) Describe the error or the transfer you are unsure about and explain as clearly as you can why you believe it is an error or why you need more information. (3) Tell us the dollar amount of the suspected error. If you inform us orally, we require that you send us your complaint or question in writing within 10 business days. We will determine whether an error occurred within 10 business days after we hear from you and will correct any error promptly. If we need more time, however, we may take up to 45 days to investigate your complaint or question. If we decide to do this, we will credit your account within 10 business days for the amount you think is in error, so that you will have the use of the money during the time it takes us to complete our investigation. If we ask you to put your complaint or question in writing and we do not receive it within 10 business days, we may not credit your account. For errors involving new accounts, point-of-sale, or foreign-initiated transactions, we may take up to 90 days to investigate your complaint or question. For new accounts, we may take up to 20 business days to credit your account for the amount you think is in error. We will tell you the results within three business days after completing our investigation. If we decide that there was no error, we will send you a written explanation. You may ask for copies of the documents that we used in our investigation. (b) Error resolution notice on periodic statements. In Case of Errors or Questions About Your Electronic Transfers telephone or write to us at the following address: State Bank of India Deposit Section 460 Park Avenue, New York, N.Y 10022 Tel: (212)521-3342/3318 as soon as you can, if you think your statement or receipt is wrong or if you need more information about a transfer on the statement or receipt. We must hear from you no later than 60 days after we sent you the FIRST statement on which the error or problem appeared. (1) Tell us your name and account number (if any). (2) Describe the error or the transfer you are unsure about and explain as clearly as you can why you believe it is an error or why you need more information. (3) Tell us the dollar amount of the suspected error. We will investigate your complaint and will correct any error promptly. If we take more than 10 business days to do this, we will credit your account for the amount you think is in error, so that you will have the use of the money during the time it takes us to complete our investigation. 10. Business Days: The Bank’s business days are Monday through Friday, 9:00 a.m. to 4:00 p.m ET (cash services available up to 3:00 pm ET only) not including bank legal holidays. 11.Disclosure of Account Information to Third Parties: We will disclose information to third parties about your account or the transfers you make: (i) Where it is necessary for completing transfers, or (ii) In order to verify the existence and condition of your account for a third party, such as a credit bureau or merchant, or (iii) In order to comply with government agency or court orders, or (iv) as described in our privacy policy included in this agreement.
State Bank of India New York Customer Manual for Deposits 22 The Bank also reserves the right to close your accounts without any prior notice for any reason in the Bank’s sole discretion. The Bank will mail you a check for the balance in the accounts. The Bank may give you notice before taking this step, although we are not obliged to do so. We also reserve the right to close your account if your account has a NIL balance for more than three (3) months. Payment of interest on your account (if your account is interest-bearing) will cease from the date of closure of the account. Checking and Money Market Deposit Accounts cannot be negotiated or transferred to another individual or corporation or entity. o. Bank’s Liability: If the Bank does not complete a transfer to or from your account in time or for the correct amount as per your agreement with us, we will be liable for your direct losses or damages but not any indirect costs or punitive costs or damages. However, the Bank will not be liable in circumstances such as:  The funds in your account are not sufficient to affect the transfer  The automated teller machine where you were making the transfer has a communication failure.  The automated teller machine did not have enough cash  If circumstances beyond our control prevent the transfer.  If we are unable to confirm the transaction with you (if required)  Any other exceptions stated in our agreement with you.
State Bank of India New York Customer Manual for Deposits 56 and other applicable laws, may keep records or make reports of high-dollar transactions, suspicious activities, or foreign currency transactions, as necessary to comply with the law and to detect and prevent illegal activity. There are serious civil and criminal consequences to engaging in illegal financial transactions. 13. Limitation of Bank’s Liability: If we do not complete a transfer to or from your account on time or in the correct amount according to our agreement with you, we will be liable for your losses or damages as further described herein. However, there are some exceptions. We will not be liable, for instance: (1) If, through no fault of ours, you do not have enough money in your account to make the transfer. (2) If the transfer would go over the credit limit on your overdraft line. (3) If the automated teller machine where you are making the transfer does not have enough cash. (4) If the system was not working properly and you knew about the breakdown when you started the transfer. (5) If circumstances beyond our control (such as fire or flood) prevent the transfer, despite reasonable precautions that we have taken.
State Bank of India New York Customer Manual for Deposits 27 on the subsequent account holder who has SSN or EIN. 5.5 Restricted Access to Accounts: Restrictions may be placed on accounts assigned as collateral for the Bank’s loan to you or where you are a co-obligor. Such accounts, if interest bearing, will, however, continue to earn interest. If all or parts of your deposits are attached in connection with a legal action, such attached funds would be kept separately and would earn no interest, nor will such accounts be considered as part of the balance for determining service charges. Your deposits may also be seized by the United States Government or a state government. No interest would be payable even if such funds are subsequently returned to you. 5.6 Accounts of Deceased Persons: In the event of death of a depositor, bank will be guided by the instructions given by the account holder as per the DOB (Designation of Beneficiary) form. It is the Bank’s policy that it can only accept Designations where all beneficiaries have equal shares and each Beneficiary will be an adult (as defined by New York Law). In the event a Beneficiary pre-deceases the Account Holder(s) the surviving Beneficiaries will be entitled to an equal share of the balance of the Account. A new beneficiary form must be created if the account number is changed. The Bank shall have no liability or responsibility whatsoever, for any claims arising from the Bank’s actions, and the Bank shall be fully indemnified for any and all losses, damages, costs, etc. The Designation of Beneficiary form will be effective from the date State Bank of India receives all relevant information required by the form and will supersede any previous Designation of Beneficiary that you might have made. You will have the right to change this designation of beneficiary and to designate a new beneficiary at any time by writing to State Bank of India, New York Branch. This designation is made under the laws of the State of New York which shall have exclusive and binding jurisdiction. All checks written on an account will be honored until we are advised in writing of the death of an account holder. On receipt of such notice the account will be blocked. In case of joint accounts with right to survivorship, the surviving account holder will be entitled to the balances in the account. 6. BANKING TERMINOLOGY • Annual Percentage Yield (APY): The effect of compounding on the interest rate over a one-year period, expressed as a percentage.
State Bank of India New York Customer Manual for Deposits 53 c) If you tell us about the error orally, in person or by telephone, we require that you send us your complaint or question in writing within ten business days. d) We shall tell you the results of our preliminary investigation within 10 business days after we hear from you and will correct any error promptly. Sometimes we may take up to 45 days to investigate certain complaints or questions. In such cases, we will provisionally credit your Account upon your indemnifying us within 10 business days for the amount you think is in error, so that you may have the use of the money during the time it takes us to complete our investigation. If we ask you to put your complaint or question in writing and we do not receive it within 10 business days, we may not credit your Account. e) For errors involving new Accounts, point-of-sale, or foreign-initiated transactions, we may take up to 90 days to investigate your complaint or question. For new Accounts we may take up to 20 business days to credit your Account for the amount you think is in error. If we decide there was no error, we will send you a written explanation within three business days after we finish our investigation. You may ask for copies of the documents that we used in our investigation. 13. Anti-Money Laundering: The Bank, to the extent required by federal law under the USA PATRIOT Act and others, may keep records or make reports of high-dollar Transactions, suspicious activity, or foreign currency Transactions, as necessary to comply with the law and to detect and prevent illegal activity. There are serious civil and criminal consequences to engaging in illegal financial transactions. 14. Limitation of Bank’s Liability: The Bank shall not be liable to the Card Holder or to any third party, for any loss or damage suffered due to the following reasons: a) Any action carried out by the Bank, in good faith, based upon the instructions of the Card Holder, exercising due diligence and reasonable care; b) Any unauthorized and illegal Transactions occurring through the use of Bank Account(s), which can be attributed to the fraudulent or negligent conduct of the Card Holder, to the extent permitted by law; c) Any ATM or Merchant Establishment refusal to honor the Card, for whatever reason; d) Intrusion or hacking into the computer system/network or communication network of the Bank, to the extent permitted by law; e) Failure to carry out any instructions of the Card Holder due to insufficiency of balance in the Card Holder’s Account(s) or if the card Holder’s funds are subject to legal process or other restriction; f) Failure of the Card Holder to access the Account due to any Force Majeure Event, Technical Problems, or any other reason beyond the control of the Bank; g) Failure of the Card Holder to keep confidential and secure, PIN or any passwords, keywords or other identification marks given to the Card Holder for operating of the Account and/or Card; h) Failure of the Card Holder to inform the Bank regarding any changes in the Card Holder’s personal information; i) Breach of any of the other terms and conditions stated herein or in the Customer Manual by the Card Holder; j) Non-debiting of Transaction amount instantly through ATM or Merchant Transactions;
State Bank of India New York Customer Manual for Deposits 41 We may send the wire through such correspondents as appear appropriate to us in our sole discretion and we shall not be liable for their neglect or negligence. We are not under any obligation to detect errors or inconsistencies in any of your instructions. We will not be liable for any losses caused by errors or inaccuracies in your instructions. We will have the right, in our sole discretion, to reject any instructions, to set exposure limits on the amounts you may wire and impose additional conditions that must be satisfied before we will accept any instructions. i. Limits on Remittances. You will provide a statement of the purpose of the remittance. You may not transfer more than our specified maximum dollar limit in any single day. We may change any of the foregoing limits in our discretion at any time. Remittances may not be sent by us through or into any country in violation of U.S. laws. We will charge to and debit from the account identified in the instruction the amount of money specified in the instruction to be paid to the beneficiary designated therein and all fees and any costs and expenses. You must verify, prior to issuing an instruction for us to initiate a remittance, that funds are available in your account for us to initiate the remittance. If there are insufficient funds, we may, in our sole discretion: (i) execute the transaction, in which event, immediately upon our demand, you will pay to us all amounts sent and all fees and costs and expenses associated with the transfer; (ii) delay the remittance; or (iii) cancel the instruction and not complete the remittance. We will not have any liability to you or any other person for losses incurred by you or any other person when a remittance is not completed because there are not sufficient funds available. j. Limits on Liability and Indemnification. EXCEPT AS PROVIDED IN EXPRESS TERMS TO THE CONTRARY IN THIS MANUAL, THE SERVICE IS PROVIDED ON AN “AS IS”, “AS AVAILABLE” BASIS. WE MAKE NO WARRANTY, EXPRESS OR IMPLIED, TO YOU OR ANY OTHER PERSON REGARDING THE SERVICE, INCLUDING ANY WARRANTY OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE OR NONINFRINGEMENT. Subject to the limitations on our liability set forth in this Agreement, we will have liability to you for any losses you suffer or incur as a direct result of a material breach of this Agreement by us or as a direct result of our gross negligence or intentional misconduct in performing or failing to perform the Service. Our liability will be limited, however, as follows: (i) for delays in payment, our total liability to you or any person, including the beneficiary, will be limited to payment of interest for the period of delay; (ii) for non-completion of the instructions, our total liability to any person, including you, will be limited to reimbursement to such person of his or her actual out-of-pocket expenses in the funds transfer, and any actual out-of-pocket incidental expenses and interest losses; and (iii) for any other cause, the aggregate amount of the fees and charges paid by you to us for the Service during the prior 6 months. We will not be liable to you or any other person for, and you release us from liability with respect to (i) any indirect, consequential, special, incidental, exemplary or punitive damages, including loss of profits, loss of business or loss of data; or (ii) attorneys’ fees or fees of other professionals. You will fully indemnify us and hold us harmless, from and against all losses we may suffer or
State Bank of India New York Customer Manual for Deposits 11 age or older. For every additional withdrawal or check beyond above mentioned number in a statement cycle, $5 will be recovered e. Restriction on the number of credits/deposits: No restriction. f. Availability of account statement and frequency of monthly statement: Account statements at monthly intervals will be provided. 4.2 Money Market Deposit (MMD) Account This is an interest-bearing account from which withdrawals can be made in accordance with certain prescribed restrictions. Tiered interest rate is available on money market accounts based on the balances available in the account. The minimum deposit required for opening an account is the minimum daily balance requirement for the account which is tabled below. The daily minimum balances required to be maintained to avoid monthly service charges are as follows: Consumer Account Business/ Associations US Resident Customer $2,500 $50,000 Non-US Resident Customer $25,000 $ 100,000 A minimum balance service charge as listed in our “Schedule of Fees & Charges” in this Manual will be imposed every month if the balance in the account falls below the required minimum during any day of a calendar month. If the balance is less than the amount required to be deducted as service charge, the so available balance will be treated as service charges and the account may be closed forthwith, with notice to the customer at the last available address in our records. No overdraft is permitted under any circumstances in this account. Any check presented with insufficient funds will be dishonored. Service charges are listed in our “Schedule of Fees & Charges” in this Manual. A Money Market Deposit Account for Non-US Resident consumer or business/association would be opened at the sole discretion of the Bank and as per its policy, either on the same terms and conditions as for U.S- resident customers or on mutually agreed terms and conditions. Monthly service charges are listed in our “Schedule of Fees & Charges” in this Manual. Early closure fees will apply if you close your account within three months of opening. Other Features of Money Market Deposit Accounts a. Interest Rate: Tiered interest rate is available on MMD accounts based on the balances available in account. Interest rate on these accounts may vary from time to time. The Bank reserves the right to change the rate at any time. There is no limitation as to the percentage amount the interest rate may vary. You may visit our website https://sbinewyork.statebank or call (212) 521-3200 for information on the current rate of interest. b. Payment of Interest: Interest will accrue on your day-end balance. Interest earned during the month will be credited to the account at the close of business on the last business day of the month and will be made available to you on the first business day of the following month. There is no minimum balance required to earn the stated annual percentage yield. For non-cash deposits made into your account (for example checks) interest begins to accrue no later than the business day we receive credit for the deposit of the non-cash items. If the account is closed during the middle of a
State Bank of India New York Customer Manual for Deposits 12 month, accrued interest will be credited and paid. Accrued interest will be credited to your account prior to closing the same. c. Compounding Method: Your Money Market Deposit Account earn simple interest on a 360 days’ basis which accrues daily based on the end-of-the-day balance. The daily balance method will be used to calculate the interest on the account. This method applies a daily periodic rate to the principal in the account each day. Although interest accrues daily, you may not withdraw the earnings until the first business day of the following calendar month, when the same is credited into the account, provided the account is not closed. If not withdrawn, interest is added to and becomes part of the account balance. Since interest is added to your total account balance, any credited interest in the account is, effectively, compounded monthly. d. Annual Percentage Yield: The annual percentage yield earned (APYE) for the statement period will be advised with each monthly statement account. e. Withdrawals: A maximum of 6 transfers or withdrawals, or a combination of such transfers or withdrawals, are permitted during a calendar month or statement cycle of at least four weeks. For the purpose of this limit, preauthorized, automatic transfers (including but not limited to transfer from savings deposit for overdraft protection or for direct bill payments) and transfers and withdrawals initiated by telephone, facsimile, or computer and transfers made by check, debit card or other similar order made by the depositor and payable to third parties is included.
State Bank of India New York Customer Manual for Deposits 44 decide not to agree to the terms and conditions discussed therein, you may not use Internet Banking. The Online Banking Terms of Service govern Internet Banking and supersede any inconsistent agreements or requirements. However, the terms of this Manual will govern and supersede any inconsistent statements contained in the Online Banking Terms of Service with regard to the (i) types of accounts that you may have with the Bank and the terms of those accounts; (ii) Bank’s rules governing wire transfers or international remittances including our liability to you and how we will inform you about the costs and fees and exchange rates for remittances and your ability to stop the remittance; (iii) Bank’s privacy and sharing of information policies and (iv) governing law of our agreement. Note: The customer is required to give full name (no initials) while creating recipient for the purpose of sending remittances. Thank You IMPORTANT If there is a conflict between the information stated in any Bank agreement or brochure/Manual (including this one) and something said by one of our employees, the written information will be used to resolve the conflict. The Bank may refuse to follow any instructions it believes is not permitted under law or regulation. The Manual is governed by and shall be interpreted under the laws of the State of New York. Any litigation shall be filed and heard only in the federal or state courts located in New York. State Bank of India reserves the right to change the Manual as required by law or Bank policy. Such changes may be displayed on the notice board in the Bank, posted on the website (https://sbinewyork.statebank) or advised to customers by mail. If you have any questions regarding the information provided in the Manual or your account relationship, you may contact us by mail by writing to the following address: State Bank of India DRS Department 460 Park Avenue New York Branch, NY 10022 U.S.A. Tel : General: (212)521-3200
State Bank of India New York Customer Manual for Deposits 55 (1) Tell us your name and account number (if any). (2) Describe the error or the transfer you are unsure about and explain as clearly as you can why you believe it is an error or why you need more information. (3) Tell us the dollar amount of the suspected error. If you inform us orally, we require that you send us your complaint or question in writing within 10 business days. We will determine whether an error occurred within 10 business days after we hear from you and will correct any error promptly. If we need more time, however, we may take up to 45 days to investigate your complaint or question. If we decide to do this, we will credit your account within 10 business days for the amount you think is in error, so that you will have the use of the money during the time it takes us to complete our investigation. If we ask you to put your complaint or question in writing and we do not receive it within 10 business days, we may not credit your account. For errors involving new accounts, point-of-sale, or foreign-initiated transactions, we may take up to 90 days to investigate your complaint or question. For new accounts, we may take up to 20 business days to credit your account for the amount you think is in error. We will tell you the results within three business days after completing our investigation. If we decide that there was no error, we will send you a written explanation. You may ask for copies of the documents that we used in our investigation. (b) Error resolution notice on periodic statements. In Case of Errors or Questions About Your Electronic Transfers telephone or write to us at the following address: State Bank of India Deposit Section 460 Park Avenue, New York, N.Y 10022 Tel: (212)521-3342/3318 as soon as you can, if you think your statement or receipt is wrong or if you need more information about a transfer on the statement or receipt. We must hear from you no later than 60 days after we sent you the FIRST statement on which the error or problem appeared. (1) Tell us your name and account number (if any). (2) Describe the error or the transfer you are unsure about and explain as clearly as you can why you believe it is an error or why you need more information. (3) Tell us the dollar amount of the suspected error. We will investigate your complaint and will correct any error promptly. If we take more than 10 business days to do this, we will credit your account for the amount you think is in error, so that you will have the use of the money during the time it takes us to complete our investigation. 10. Business Days: The Bank’s business days are Monday through Friday, 9:00 a.m. to 4:00 p.m ET (cash services available up to 3:00 pm ET only) not including bank legal holidays. 11.Disclosure of Account Information to Third Parties: We will disclose information to third parties about your account or the transfers you make: (i) Where it is necessary for completing transfers, or (ii) In order to verify the existence and condition of your account for a third party, such as a credit bureau or merchant, or (iii) In order to comply with government agency or court orders, or (iv) as described in our privacy policy included in this agreement.
State Bank of India New York Customer Manual for Deposits 30 offices are collectively referred to as SBI-US in this Notice. What we do How does SBI–US protect my personal information? To protect your personal information from unauthorized access and use, we use security measures that comply with federal law. SBI-US has established physical, technological and procedural systems and controls for protecting the confidentiality of your personal information. SBI-US employees undergo training on protecting customer information. How does SBI–US collect my personal information? We collect your personal information, for example, when you Open an account or deposit money Pay your bills or apply for a loan Use your credit or debit card We also collect your personal information from credit bureaus. Why can't I limit all sharing? Federal law gives you the right to limit only Sharing for affiliates’ everyday business purposes- information about your creditworthiness Affiliates from using your information to market to you Sharing for non-affiliates to market to you State laws and individual companies may give you additional rights to limit sharing. See below for more on your rights under state law.

Test Case

Question: What is the penalty for early withdrawal of a CD?

Metric Baseline Score Current Score
answer_accuracy 0.85695445 0.83776146 (-0.01919299)
groundedness 0.87428004 0.89200748 (+0.01772744)
mean_answer_similarity 0.88768453 0.88112283 (-0.00656171)
mean_reciprocal_rank 1.00000000 1.00000000
min_answer_similarity 0.85695445 0.83776146 (-0.01919299)
model_failures 1.00000000 1.00000000
model_generation_failures 1.00000000 1.00000000
model_parse_failures 0.00000000 0.00000000
model_passes 0.00000000 0.00000000
model_retrieval_failures 0.00000000 0.00000000
precision_relevancy 0.87492299 0.87392616 (-0.00099683)
recall_relevancy 0.93897719 0.93897719
rouge_1 0.16289593 0.16964286 (+0.00674693)
rouge_2 0.08219178 0.08108108 (-0.00111070)
rouge_l 0.14479638 0.15178571 (+0.00698933)

Legend:

  • Metric : The evaluation metric name. Shown in bold red if the metric flipped between pass/fail status.
  • Baseline Score : The metric value for the baseline model. Shown in bold green if baseline won, red if lost.
  • Current Score : The metric value for the current model, followed by the delta from baseline in parentheses.
  • Delta Colors : Green = improvement, Orange = regression, Red = metric flipped to fail.
  • Winner Determination : For each metric, the winner is determined by comparing scores while considering the metric's directionality (higher is better vs. lower is better).
Baseline Result Current Result
Model claude-3-7-sonnet-20250219@h2ogpte claude-3-7-sonnet-20250219@h2ogpte
Question What is the penalty for early withdrawal of a CD?
Expected answer The penalty for early withdrawals of CD is as follows: Term of Deposit, No of Days for which Interest will be recovered.
Actual Answer According to the document, the penalty for early withdrawal of a Certificate of Deposit (CD) varies based on the term of the deposit: - For CDs with a term of 14 days: 14 days of interest - For CDs with a term of 1 month to less than 1 year: 30 days of interest - For CDs with a term of 1 year to less than 3 years: 60 days of interest - For CDs with a term of 3 years to less than 5 years: 120 days of interest - For CDs with a term of 5 years & over: 180 days of interest The penalty will be calculated at the same interest rate as the deposit. However, the document notes that State Bank of India New York's CDs come with a "Principal Protection" feature, meaning that the penalty for early withdrawal would be limited to the amount of interest paid/payable and will not result in reduction of the original deposit amount. The document also states that a penalty will not be charged if the premature withdrawal is caused by the death of the depositor or if the depositor is declared legally incompetent. Additionally, partial withdrawal from a CD is not permitted. According to the document, the penalty for early withdrawal of a Certificate of Deposit (CD) varies based on the term of the deposit: For regular CDs: - 14 days term: 14 days of interest - 1 month to less than 1 year: 30 days of interest - 1 year to less than 3 years: 60 days of interest - 3 years to less than 5 years: 120 days of interest - 5 years & over: 180 days of interest For Senior Citizen CDs, the penalties are: - 1 year to less than 3 years: 60 days of interest - 3 years to less than 5 years: 120 days of interest - 5 years & over: 180 days of interest The document also notes that the penalty will be calculated at the same interest rate as the deposit. However, State Bank of India New York offers a "Principal Protection" feature, which means the penalty for early withdrawal would be limited to the amount of interest paid/payable and will not result in reduction of the original deposit amount. The penalty will not be charged if the premature withdrawal is caused by the death of the depositor or if the depositor is declared legally incompetent. Additionally, partial withdrawal of CD funds is not permitted.
Retrieved Context
d. Minimum Balance Requirement: The minimum amount required for each CD will be USD 25,000. There is no maximum limit under the product. e. Early Withdrawal Penalty: All premature withdrawals incur a penalty as mentioned below. Partial withdrawal is not permitted.
State Bank of India New York Customer Manual for Deposits 14 Type US Resident Non-US Resident Consumer accounts $5,000 $10,000 Accounts of Businesses $10,000 $10,000 f. Early Withdrawal Penalty: The principal amount of CD cannot usually be withdrawn before the maturity date, unless the Bank consents to the withdrawal as a special case. We may require that all holders of a joint account authorize a premature withdrawal of the principal from a CD account. Partial withdrawal is not permitted. The penalty for early withdrawals of CD is as follows: Term of Deposit No of Days for which Interest will be recovered 14 days 14 days 1 month to less than 1 year 30 days 1 year to less than 3 years 60 days 3 years to less than 5 years 120 days 5 years & over 180 days The penalty will be calculated at the same interest rate of the deposit. A penalty will not be charged if the premature withdrawal is caused by the death of the depositor or if the depositor is declared legally incompetent. g. Principal Protection: SBI New York Certificate of Deposit comes with “Principal Protection” feature. The penalty for early withdrawal would be limited up to the amount of interest paid / payable and will not result in reduction of the amount originally deposited. h. Renewal: If your CD is for a term of more than 30 days, we will send you a maturity notice not less than 14 days and not more than 30 days prior to the maturity date. No maturity notice will be sent for Certificate of Deposit with term of 30 days or less.
If we do not hear from you, and unless you had specifically advised us against automatic renewal when you opened the CD, 1. We will automatically renew the CD (principal and earned interest) for a period of one year at the rate offered for one year term on the date the CD matured for CDs having maturity of 1 year or more. 2. For CDs of lower tenor, the CD shall be auto-rolled over for original tenor. In the absence of your instruction for disposal of the maturity proceeds (where automatic renewal option has been declined), the maturity amount will be placed in a non-interest bearing account.
State Bank of India New York Customer Manual for Deposits 13 4.3. CERTIFICATE OF DEPOSIT (“CD”) A CD earns a fixed rate of interest when an amount of money (principal) is left on deposit with the Bank for a fixed period (a fixed number of days, months or years). After an account is opened, you may not make deposits into or withdraw from this account until the maturity date. Premature withdrawal of principal would attract a penalty. Refer to “Penalty for Early Withdrawal of Principal” (Section f). We offer CDs with maturities from 3 months to 5 years. Bank also accepts deposit for a tenor from 7 days to 3 months on a case to case basis. a. Interest Rate: The interest rate earned on a Certificate of Deposit will be a guaranteed fixed rate for the term of the CD. This rate is determined by the Bank, based on market conditions, at the time the account is opened or renewed. Presently we are not offering floating rate Certificate of Deposits. For current rate information, you may visit our website https://sbinewyork.statebank or call 212-521-3390. b. Annual Percentage Yield (APY): Our Certificates of Deposit are offered on simple interest (also called non-cumulative interest) and compound interest (also called cumulative interest) basis, depending upon your choice. For CDs with simple interest, there will not be any difference in the interest rate (also called Annual Percentage Rate, or APR) and the Annual Percentage Yield (APY). For CDs where interest is compounded, the Annual Percentage Yield measures the total amount of interest paid on the account in a year based on the interest rate and the frequency of compounding, which is quarterly. The interest is calculated on a 365 days basis. c. Compounding Period/Payment of Interest: If you choose to receive simple interest (non- cumulative) on your CD, you may opt to withdraw the interest at monthly/quarterly/half-yearly intervals, at the time of opening or renewing the CD, provided the deposit is for one year or more. For CDs of less than six months, the simple interest is paid at maturity. If you choose to receive compounded interest on your CD, interest will be compounded at quarterly intervals and will be paid along with the principal at the time of maturity. This option is only available for CDs of six months or higher maturities.
State Bank of India New York Customer Manual for Deposits 16 Maturity period of deposit Number of days for which interest will be recovered 1 year to less than 3 years 60 days 3 years to less than 5 years 120 days 5 years & over 180 days The penalty will be calculated at the same interest rate of the deposit. A penalty will not be charged in case the withdrawal is caused by death of the depositor or if the depositor is declared legally incompetent. Principal Protection: SBI New York Certificate of Deposit comes with the “Principal Protection” feature. The penalty for early withdrawal would be limited up to the amount of interest paid / payable and will not result in reduction of the amount originally deposited. g. Interest Payment Method: When opening the CD, you may opt to receive the periodic interest payments by any one of the following: • Through ACH/Wire transfer to your designated bank account • By an official check through regular mail • In your Checking or Money Market Deposit Account with us. h. Renewal: We will send you a maturity notice not less than 14 days and not more than 30 days prior to the maturity date. If we do not hear from you, and unless you had specifically advised us against automatic renewal when you opened the CD, we will automatically renew the CD after 10 calendar days, under the same product for a period of one year at the rate offered for one year term on the date the CD matured. In the absence of your instruction for disposal of the maturity proceeds (where automatic renewal option has been declined), the maturity amount will be placed in a non-interest bearing account. CDs that were automatically renewed have a ten- calendar-day grace period (including the date of maturity). During the grace period, you may withdraw the amount of your deposit without incurring a premature withdrawal penalty. However, no interest will be paid from the date of maturity until the date of such withdrawal. If you choose to renew your deposit, during this grace period of 10 days, from a date later than the date of maturity, no interest will be paid from the date of maturity until the date of such renewal. Please, however, note that written instructions for withdrawal should be received by us within the grace period. The instructions will be accepted through Secured Messaging on Internet Banking Portal/Mail/In person visits to the Bank. CDs that mature on Saturdays, Sundays or Federal holidays will be available for withdrawal on the next business day and interest will be paid until the maturity date. CDs may not be negotiated or transferred to another individual or corporation. Your existing CDs may also be renewed as Senior Citizen CD in case you fulfil the eligibility norms subject to receipt of written request to convert the CD into a Senior Citizen CD. Existing CDs will not be auto renewed as Senior Citizen CD even though you may fulfil the eligibility conditions.
State Bank of India New York Customer Manual for Deposits 15 CDs that were automatically renewed have a ten-calendar-day grace period (including the date of maturity). During the grace period, you may withdraw the amount of your deposit without incurring a premature withdrawal penalty. However, no interest will be paid from the date of maturity until the date of such withdrawal. If you choose to renew your deposit, during this grace period of 10 days, from a date later than the date of maturity, no interest will be paid from the date of maturity until the date of such renewal. Please, however, note that written instructions for withdrawal should be received by us within the grace period. The instructions will be accepted through Secured Messaging on Internet Banking Portal/Mail/In person visits to the Bank. CDs that mature on Saturdays, Sundays or Federal holidays will be available for withdrawal on the next business day and interest will be paid until the maturity date. CDs may not be negotiated or transferred to another individual or corporation. 4.3.1 Senior Citizen Certificate of Deposit This is a product variant of certificate of deposit specifically available to customers who are aged 60 years and above. These accounts can be either opened as Single or Joint deposits. In case of joint accounts, the primary account holder should meet the age eligibility criteria. We offer Senior Citizen CD with maturities from 1 year to 5 years. The product is available to US Citizens, Permanent Residents and Resident Aliens. In case of joint accounts, all the customers should be US Citizens, Permanent Residents or Resident aliens.
a. Interest Rate: The interest rate earned on a Senior Citizen Certificate of Deposit will earn fixed rate for the term of the CD. This rate is determined by the Bank, based on market conditions, at the time the account is opened or renewed. For current rate information, you may visit our website https://sbinewyork.statebank or call (212) 521-3390 b. Annual Percentage Yield (APY): Senior Citizen Certificate of Deposit is offered on simple interest (also called non-cumulative interest) and compound interest (also called cumulative interest) basis, depending upon your choice. In case of simple interest, the Annual Percentage Rate(APR) and Annual Percentage Yield would be the same. In case of compound interest, APY measures the total amount of interest paid on the account in a year based on the interest rate and the frequency of compounding is quarterly. The interest is calculated on a 365 days basis. c. Compounding Period/Payment of Interest: If you choose to receive simple interest (non- cumulative) on your CD, you may opt to withdraw the interest at monthly/quarterly/half-yearly intervals, at the time of opening or renewing the CD. If you choose to receive compounded interest on your CD, interest will be compounded at quarterly intervals and will be paid along with the principal at the time of maturity.
e. Withdrawals: When writing checks on your Checking or Money Market Deposit Account, please ensure that:  The amount is stated in US dollars;  The amount is within the available balance in your account. The available balance in your account may be affected because of other transactions, including debit card transactions. Checks which exceed the available balance in your account may be returned unpaid and are subject to a charge as indicated in “Schedule of Fees & Charges”. The Bank reserves the right to pay a stale check, i.e., a check more than 6 months old. A request for a withdrawal or transfer may not be honored in circumstances such as, but not limited to, these:  If the Bank has instructions to the contrary from a joint account holder. In such cases the signatures of all account holders would be required on any authorization.  If a court order/legal process prohibits the Bank from doing so.  If the Bank suspects fraud or violation, including money laundering.  If there is a dispute to the Bank’s knowledge.  If the account is pledged as collateral and has been set-off against overdue debts.  If the account is seized by State /Federal agency.  If the payee is not properly identified to us.  If the withdrawal/transfer exceeds the permissible number (e.g., more than 6 checks per statement period in Money Market Deposit Accounts).
State Bank of India New York Customer Manual for Deposits 20 If you apply for a duplicate official check or a refund within 180 days of the date of the check, the Bank would require you and the payee to jointly sign an affidavit of loss and indemnity, referred to as Indemnity Agreement. You may also be required to submit a Surety Bond for twice the amount of the instrument or to place sufficient funds as security with us. After 180 days, an affidavit of loss and indemnity alone may suffice. A fee (see “Schedule of Fees & Charges”) will be charged for each stop payment request. i. Your Records: Your cancelled check(s) or substitute check(s), copies of special withdrawal form(s) and acknowledgment(s) on deposit slip(s) are your records. Paid and cancelled checks or substitute checks will be mailed with the statement of accounts to U.S. based customers. The cancelled checks or substitute checks for non-U.S. based accounts will normally be retained by the Bank. j. Statement of Account: Both Checking and Money Market Deposit Accounts are statement accounts. For all active statement accounts (that is, accounts which are not inactive or dormant as explained in Section 5.2) at least once in a calendar month, we will send a statement showing all account activities during the previous statement period. This statement will indicate your balance on the statement date and will give you an itemized, date-wise listing of all credits, all paid checks/ transfers, transactions put through using the linked debit card, interest earned, and any maintenance and service charges levied. It will also indicate the annual percentage yield earned (APYE) in effect during the period, if the account is interest bearing. All statements will be mailed to the last address known to the Bank by regular mail. For additional statements and other modes of sending statements, charges will be extra. No periodic account statements will be sent on CD accounts. Statements of Account are not available online, however, you may view the transactions online through internet banking.
State Bank of India New York Customer Manual for Deposits 24 IMPORTANT INFORMATION ABOUT SUBSTITUTE CHECKS AND YOUR RIGHTS What is a substitute check? To make check processing faster, federal law permits banks to replace original checks with "substitute checks." These checks are similar to original checks with a slightly reduced image of the front and back of the original check. The front of a substitute check states: "This is a legal copy of your check. You can use it the same way you would use the original check." You may use a substitute check as proof of payment just like the original check. Some or all of the checks that you receive back from us may be substitute checks. This notice describes rights you have when you receive substitute checks from us. The rights in this notice do not apply to original checks or to electronic debits to your account. However, you have rights under other law with respect to those transactions. What are your rights regarding substitute check? In certain cases, federal law provides a special procedure that allows you to request a refund for losses you suffer if a substitute check is posted to your account (for example, if you think that we withdrew the wrong amount from your account or that we withdrew money from your account more than once for the same check). The losses you may attempt to recover under this procedure may include the amount that was withdrawn from your account and fees that were charged as a result of the withdrawal (for example, bounced check fees). The amount of your refund under this procedure is limited to the amount of your loss or the amount of the substitute check, whichever is less. You also are entitled to interest on the amount of your refund if your account is an interest-bearing account. If your loss exceeds the amount of the substitute check, you may be able to recover additional amounts under other law. If you use this procedure, you may receive up to $2,500 of your refund (plus interest if your account earns interest) within 10 business days after we received your claim and the remainder of your refund (plus interest if your account earns interest) not later than 45 calendar days after we received your claim. We may reverse the refund (including any interest on the refund) if we later are able to demonstrate that the substitute check was correctly posted to your account. How can you make a claim for a refund? If you believe that you have suffered a loss relating to a substitute check that you received and that was posted to your account, please contact us by phone at (212)521-3286/3318 or by postal mail at our mailing address. You must contact us within 40 calendar days of the date that we mailed (or otherwise delivered by a means to which you agreed) the substitute check in question or the account statement showing that the substitute check was posted to your account, whichever is later. We may extend this time period if you were not able to make a timely claim because of extraordinary circumstances. Your claim must be made in writing on the prescribed form, be signed by you and include: A description of why you have suffered a loss (e.g. you think the amount withdrawn was incorrect); An estimate of the amount of your loss;
d. Interest Payment Method: When opening the CD, you may opt to receive the periodic interest payments by any one of the following: • Through ACH/Wire transfer to your designated bank account • By an official check through regular mail • In your Checking or Money Market Deposit Account with us. If you opt to receive compounded interest (cumulative), we will pay you interest along with the principal at the time of maturity of the CD. e. Minimum Balance Requirement: The minimum amount required for each CD may vary for US resident depositors and those based outside the USA. It may also vary for consumer and accounts of businesses. Currently, the following are the minimum balances:
d. Minimum Balance Requirement: The minimum amount required for each CD will be USD 25,000. There is no maximum limit under the product. e. Early Withdrawal Penalty: All premature withdrawals incur a penalty as mentioned below. Partial withdrawal is not permitted.
State Bank of India New York Customer Manual for Deposits 14 Type US Resident Non-US Resident Consumer accounts $5,000 $10,000 Accounts of Businesses $10,000 $10,000 f. Early Withdrawal Penalty: The principal amount of CD cannot usually be withdrawn before the maturity date, unless the Bank consents to the withdrawal as a special case. We may require that all holders of a joint account authorize a premature withdrawal of the principal from a CD account. Partial withdrawal is not permitted. The penalty for early withdrawals of CD is as follows: Term of Deposit No of Days for which Interest will be recovered 14 days 14 days 1 month to less than 1 year 30 days 1 year to less than 3 years 60 days 3 years to less than 5 years 120 days 5 years & over 180 days The penalty will be calculated at the same interest rate of the deposit. A penalty will not be charged if the premature withdrawal is caused by the death of the depositor or if the depositor is declared legally incompetent. g. Principal Protection: SBI New York Certificate of Deposit comes with “Principal Protection” feature. The penalty for early withdrawal would be limited up to the amount of interest paid / payable and will not result in reduction of the amount originally deposited. h. Renewal: If your CD is for a term of more than 30 days, we will send you a maturity notice not less than 14 days and not more than 30 days prior to the maturity date. No maturity notice will be sent for Certificate of Deposit with term of 30 days or less.
a. Interest Rate: The interest rate earned on a Senior Citizen Certificate of Deposit will earn fixed rate for the term of the CD. This rate is determined by the Bank, based on market conditions, at the time the account is opened or renewed. For current rate information, you may visit our website https://sbinewyork.statebank or call (212) 521-3390 b. Annual Percentage Yield (APY): Senior Citizen Certificate of Deposit is offered on simple interest (also called non-cumulative interest) and compound interest (also called cumulative interest) basis, depending upon your choice. In case of simple interest, the Annual Percentage Rate(APR) and Annual Percentage Yield would be the same. In case of compound interest, APY measures the total amount of interest paid on the account in a year based on the interest rate and the frequency of compounding is quarterly. The interest is calculated on a 365 days basis. c. Compounding Period/Payment of Interest: If you choose to receive simple interest (non- cumulative) on your CD, you may opt to withdraw the interest at monthly/quarterly/half-yearly intervals, at the time of opening or renewing the CD. If you choose to receive compounded interest on your CD, interest will be compounded at quarterly intervals and will be paid along with the principal at the time of maturity.
If we do not hear from you, and unless you had specifically advised us against automatic renewal when you opened the CD, 1. We will automatically renew the CD (principal and earned interest) for a period of one year at the rate offered for one year term on the date the CD matured for CDs having maturity of 1 year or more. 2. For CDs of lower tenor, the CD shall be auto-rolled over for original tenor. In the absence of your instruction for disposal of the maturity proceeds (where automatic renewal option has been declined), the maturity amount will be placed in a non-interest bearing account.
State Bank of India New York Customer Manual for Deposits 13 4.3. CERTIFICATE OF DEPOSIT (“CD”) A CD earns a fixed rate of interest when an amount of money (principal) is left on deposit with the Bank for a fixed period (a fixed number of days, months or years). After an account is opened, you may not make deposits into or withdraw from this account until the maturity date. Premature withdrawal of principal would attract a penalty. Refer to “Penalty for Early Withdrawal of Principal” (Section f). We offer CDs with maturities from 3 months to 5 years. Bank also accepts deposit for a tenor from 7 days to 3 months on a case to case basis. a. Interest Rate: The interest rate earned on a Certificate of Deposit will be a guaranteed fixed rate for the term of the CD. This rate is determined by the Bank, based on market conditions, at the time the account is opened or renewed. Presently we are not offering floating rate Certificate of Deposits. For current rate information, you may visit our website https://sbinewyork.statebank or call 212-521-3390. b. Annual Percentage Yield (APY): Our Certificates of Deposit are offered on simple interest (also called non-cumulative interest) and compound interest (also called cumulative interest) basis, depending upon your choice. For CDs with simple interest, there will not be any difference in the interest rate (also called Annual Percentage Rate, or APR) and the Annual Percentage Yield (APY). For CDs where interest is compounded, the Annual Percentage Yield measures the total amount of interest paid on the account in a year based on the interest rate and the frequency of compounding, which is quarterly. The interest is calculated on a 365 days basis. c. Compounding Period/Payment of Interest: If you choose to receive simple interest (non- cumulative) on your CD, you may opt to withdraw the interest at monthly/quarterly/half-yearly intervals, at the time of opening or renewing the CD, provided the deposit is for one year or more. For CDs of less than six months, the simple interest is paid at maturity. If you choose to receive compounded interest on your CD, interest will be compounded at quarterly intervals and will be paid along with the principal at the time of maturity. This option is only available for CDs of six months or higher maturities.
State Bank of India New York Customer Manual for Deposits 16 Maturity period of deposit Number of days for which interest will be recovered 1 year to less than 3 years 60 days 3 years to less than 5 years 120 days 5 years & over 180 days The penalty will be calculated at the same interest rate of the deposit. A penalty will not be charged in case the withdrawal is caused by death of the depositor or if the depositor is declared legally incompetent. Principal Protection: SBI New York Certificate of Deposit comes with the “Principal Protection” feature. The penalty for early withdrawal would be limited up to the amount of interest paid / payable and will not result in reduction of the amount originally deposited. g. Interest Payment Method: When opening the CD, you may opt to receive the periodic interest payments by any one of the following: • Through ACH/Wire transfer to your designated bank account • By an official check through regular mail • In your Checking or Money Market Deposit Account with us. h. Renewal: We will send you a maturity notice not less than 14 days and not more than 30 days prior to the maturity date. If we do not hear from you, and unless you had specifically advised us against automatic renewal when you opened the CD, we will automatically renew the CD after 10 calendar days, under the same product for a period of one year at the rate offered for one year term on the date the CD matured. In the absence of your instruction for disposal of the maturity proceeds (where automatic renewal option has been declined), the maturity amount will be placed in a non-interest bearing account. CDs that were automatically renewed have a ten- calendar-day grace period (including the date of maturity). During the grace period, you may withdraw the amount of your deposit without incurring a premature withdrawal penalty. However, no interest will be paid from the date of maturity until the date of such withdrawal. If you choose to renew your deposit, during this grace period of 10 days, from a date later than the date of maturity, no interest will be paid from the date of maturity until the date of such renewal. Please, however, note that written instructions for withdrawal should be received by us within the grace period. The instructions will be accepted through Secured Messaging on Internet Banking Portal/Mail/In person visits to the Bank. CDs that mature on Saturdays, Sundays or Federal holidays will be available for withdrawal on the next business day and interest will be paid until the maturity date. CDs may not be negotiated or transferred to another individual or corporation. Your existing CDs may also be renewed as Senior Citizen CD in case you fulfil the eligibility norms subject to receipt of written request to convert the CD into a Senior Citizen CD. Existing CDs will not be auto renewed as Senior Citizen CD even though you may fulfil the eligibility conditions.
e. Withdrawals: When writing checks on your Checking or Money Market Deposit Account, please ensure that:  The amount is stated in US dollars;  The amount is within the available balance in your account. The available balance in your account may be affected because of other transactions, including debit card transactions. Checks which exceed the available balance in your account may be returned unpaid and are subject to a charge as indicated in “Schedule of Fees & Charges”. The Bank reserves the right to pay a stale check, i.e., a check more than 6 months old. A request for a withdrawal or transfer may not be honored in circumstances such as, but not limited to, these:  If the Bank has instructions to the contrary from a joint account holder. In such cases the signatures of all account holders would be required on any authorization.  If a court order/legal process prohibits the Bank from doing so.  If the Bank suspects fraud or violation, including money laundering.  If there is a dispute to the Bank’s knowledge.  If the account is pledged as collateral and has been set-off against overdue debts.  If the account is seized by State /Federal agency.  If the payee is not properly identified to us.  If the withdrawal/transfer exceeds the permissible number (e.g., more than 6 checks per statement period in Money Market Deposit Accounts).
State Bank of India New York Customer Manual for Deposits 15 CDs that were automatically renewed have a ten-calendar-day grace period (including the date of maturity). During the grace period, you may withdraw the amount of your deposit without incurring a premature withdrawal penalty. However, no interest will be paid from the date of maturity until the date of such withdrawal. If you choose to renew your deposit, during this grace period of 10 days, from a date later than the date of maturity, no interest will be paid from the date of maturity until the date of such renewal. Please, however, note that written instructions for withdrawal should be received by us within the grace period. The instructions will be accepted through Secured Messaging on Internet Banking Portal/Mail/In person visits to the Bank. CDs that mature on Saturdays, Sundays or Federal holidays will be available for withdrawal on the next business day and interest will be paid until the maturity date. CDs may not be negotiated or transferred to another individual or corporation. 4.3.1 Senior Citizen Certificate of Deposit This is a product variant of certificate of deposit specifically available to customers who are aged 60 years and above. These accounts can be either opened as Single or Joint deposits. In case of joint accounts, the primary account holder should meet the age eligibility criteria. We offer Senior Citizen CD with maturities from 1 year to 5 years. The product is available to US Citizens, Permanent Residents and Resident Aliens. In case of joint accounts, all the customers should be US Citizens, Permanent Residents or Resident aliens.
State Bank of India New York Customer Manual for Deposits 20 If you apply for a duplicate official check or a refund within 180 days of the date of the check, the Bank would require you and the payee to jointly sign an affidavit of loss and indemnity, referred to as Indemnity Agreement. You may also be required to submit a Surety Bond for twice the amount of the instrument or to place sufficient funds as security with us. After 180 days, an affidavit of loss and indemnity alone may suffice. A fee (see “Schedule of Fees & Charges”) will be charged for each stop payment request. i. Your Records: Your cancelled check(s) or substitute check(s), copies of special withdrawal form(s) and acknowledgment(s) on deposit slip(s) are your records. Paid and cancelled checks or substitute checks will be mailed with the statement of accounts to U.S. based customers. The cancelled checks or substitute checks for non-U.S. based accounts will normally be retained by the Bank. j. Statement of Account: Both Checking and Money Market Deposit Accounts are statement accounts. For all active statement accounts (that is, accounts which are not inactive or dormant as explained in Section 5.2) at least once in a calendar month, we will send a statement showing all account activities during the previous statement period. This statement will indicate your balance on the statement date and will give you an itemized, date-wise listing of all credits, all paid checks/ transfers, transactions put through using the linked debit card, interest earned, and any maintenance and service charges levied. It will also indicate the annual percentage yield earned (APYE) in effect during the period, if the account is interest bearing. All statements will be mailed to the last address known to the Bank by regular mail. For additional statements and other modes of sending statements, charges will be extra. No periodic account statements will be sent on CD accounts. Statements of Account are not available online, however, you may view the transactions online through internet banking.

Test Case

Question: Can wire transfers in dollars be sent to any bank in India?

Metric Baseline Score Current Score
answer_accuracy 0.80049278 0.89076531 (+0.09027253)
groundedness 0.89783409 0.87733879 (-0.02049530)
mean_answer_similarity 0.87565618 0.90447861 (+0.02882243)
mean_reciprocal_rank 1.00000000 1.00000000
min_answer_similarity 0.80049278 0.89076531 (+0.09027253)
model_failures 1.00000000 1.00000000
model_generation_failures 1.00000000 1.00000000
model_parse_failures 0.00000000 0.00000000
model_passes 0.00000000 0.00000000
model_retrieval_failures 0.00000000 0.00000000
precision_relevancy 0.85770062 0.86260149 (+0.00490087)
recall_relevancy 0.91184035 0.91184035
rouge_1 0.23030303 0.39175258 (+0.16144955)
rouge_2 0.22085890 0.37894737 (+0.15808847)
rouge_l 0.23030303 0.39175258 (+0.16144955)

Legend:

  • Metric : The evaluation metric name. Shown in bold red if the metric flipped between pass/fail status.
  • Baseline Score : The metric value for the baseline model. Shown in bold green if baseline won, red if lost.
  • Current Score : The metric value for the current model, followed by the delta from baseline in parentheses.
  • Delta Colors : Green = improvement, Orange = regression, Red = metric flipped to fail.
  • Winner Determination : For each metric, the winner is determined by comparing scores while considering the metric's directionality (higher is better vs. lower is better).
Baseline Result Current Result
Model claude-3-7-sonnet-20250219@h2ogpte claude-3-7-sonnet-20250219@h2ogpte
Question Can wire transfers in dollars be sent to any bank in India?
Expected answer No, wire transfers in dollars can be sent only to those authorized branches of Banks where SWIFT facilities are available.
Actual Answer According to the document, wire transfers in dollars to India have specific limitations. The document states on page 39: "Please note that Wire transfers in dollars can be sent only to those authorized branches of Banks where SWIFT facilities are available." This indicates that dollar wire transfers cannot be sent to any bank in India, but only to authorized branches that have SWIFT capabilities. The document also mentions that "While all efforts will be made to ensure timely delivery of funds to the beneficiaries, the Bank shall not be under any liability for any errors, negligence, default or any failure on the part of the remitting customer in furnishing vital information for good delivery of the funds." For remittances in US dollars to India, the document notes that "the funds will be converted into Rupees based on the laws and banking practice prevailing in India." According to the document, wire transfers in dollars cannot be sent to any bank in India. The document specifically states on page 39 under "Modes of Transfer of Funds" that "Wire transfers in dollars can be sent only to those authorized branches of Banks where SWIFT facilities are available." This indicates that dollar wire transfers are limited to specific branches of banks in India that have SWIFT capabilities, rather than being available for all banks in India.
Retrieved Context
State Bank of India New York Customer Manual for Deposits 39 a. Funds Transfer Services to India Remittances can be sent both in US dollars and in Indian rupees, at your option. At What Rate Are Dollars Converted to Rupees? For remittances in Rupees, the conversion of US dollars into rupees will be done at the rate determined by SBI New York on the day and time of the conversion. For remittances in US dollars to India the funds will be converted into Rupees based on the laws and banking practice prevailing in India. Modes of Transfer of Funds Remittances can be sent through Wire transfer. Please note that Wire transfers in dollars can be sent only to those authorized branches of Banks where SWIFT facilities are available. While all efforts will be made to ensure timely delivery of funds to the beneficiaries, the Bank shall not be under any liability for any errors, negligence, default or any failure on the part of the remitting customer in furnishing vital information for good delivery of the funds. Please read the Terms and Conditions for the remittance mentioned on the remittance forms. b. Transfer of Funds to Other Banks in the U.S. Funds can be transferred to other banks in the U.S. through CHIPS or Fedwire, as we are members of both of these systems. Our ABA routing number is 0260-0914-0 and CHIPS UID is 034282. c. Transfer of Funds to Other Countries We can also transfer your funds to accounts in banks in foreign countries other than India through our correspondents. You may advise us the intermediary bank of your beneficiary’s Bank, wherever required. We can also quote firm exchange rates and effect remittances through our correspondents, in the following currencies: GBP, EUR, CAD, JPY, CHF, AUD, NPR, LKR, BDT Remittances in other currencies can be offered depending upon the volume of business and availability of correspondent relationship in that currency. d. How to Apply for a Remittance Request for remittance services mentioned in a, b, c above should be made through Internet Banking (online and offline) through our website (https://sbinewyork.statebank) or by submission of our prescribed application form. The remittance application form is available on our website https://sbinewyork.statebank. Individual customers can submit the form alongwith a copy of valid photo ID over the counter at the Branch or mail the set to the Branch. The Bank will not accept remittance form through fax or e-mail for individual customers. See “Schedule of Fees & Charges” in this Manual for applicable charges. e. Use of the Remittance Service (the “Service”) The Service is available for use only by individuals and corporate customers who are account holders at the Bank. The Service will permit you to issue non-repetitive orders for us to transfer funds from your account to accounts at other domestic or international financial institutions, in amounts up to any daily limits or individual customer limits which we may establish and change in our discretion
Contact for Higher Escalation vpeb.nyb@statebank.com vpdep.nyb@statebank.com 212-521-3311 212-521-3310 Trade Finance (i) Letter of Credit mgrlc.nyb@statebank.com 212-521-3275 (ii) Bills mgrbills.nyb@statebank.com 212-521-3273 Contact for Higher Escalation vptrade.nyb@statebank.com 212-521-3260 Credit Department Credit mgrcr1.nyb@statebank.com 212-521-3211 Contact for Escalation vpcr1.nyb@statebank.com 212-521-3262 Intermediary Wire Transfers Correspondent Banking and Intermediary Wire Transfers mgrpnr.nyb@statebank.com 212-521-3333 Contact for Higher Escalation vpicb.nyb@statebank.com 212-521-3329 If your issues are not resolved, you may contact the branch compliance officer : Phone No: 2125213229, Email: brco.nyb@statebank.com Please do not share your non-public information over email. Kindly use secured message service in online banking or send us your requests through mail*. *The mail is the service or system by which letters and packages are collected and delivered. Example: letters delivered through public carriers such as FED Ex, DHL, USPS, UPS etc. Mails received/Check received in mail on any given day will be attended to/processed on next business day only.
q. Unauthorized Transactions: Tell us at once if you believe your Card has been lost or stolen, or if you believe that an electronic fund transfer has been made without your permission. Telephoning is the best way of keeping your possible losses down. If you tell us within 2 business days after you learn of the loss or theft of your Card, you can lose no more than $50 if someone used your Card without your permission.) If you do NOT tell us within 2 business days after you learn of the loss or theft of your Card, and we can prove we could have stopped someone from using your Card without your permission if you had told us, you could lose as much as $500. Also, if your statement shows transfers that you did not make, including those made by card, code or other means, tell us at once. If you do not tell us within 60 days after the statement was mailed to you, you may not get back any money you lost after the 60 days if we can prove that we could have stopped someone from taking the money if you had told us in time. If a good reason (such as a long trip or a hospital stay) kept you from telling us, we will extend the time periods. A Lost or Stolen Card may be reported by contacting: 1-800-523-4175. This toll-free number is available 24-hours a day. In case you wish to send us letter, our address is State Bank of India, Deposit Section, 460 Park Avenue, New York, NY 10022, USA. For purposes of these disclosures, our business days are Monday through Friday. All federal and state bank holidays are not included. Kindly read the Debit Card Agreement available as Annexure B on page 49 for more information relating to Debit Card Services. 10. Remittances: The minimum amount for initiating a remittance is USD 100.00 or its equivalent in other currencies.
State Bank of India New York Customer Manual for Deposits 41 We may send the wire through such correspondents as appear appropriate to us in our sole discretion and we shall not be liable for their neglect or negligence. We are not under any obligation to detect errors or inconsistencies in any of your instructions. We will not be liable for any losses caused by errors or inaccuracies in your instructions. We will have the right, in our sole discretion, to reject any instructions, to set exposure limits on the amounts you may wire and impose additional conditions that must be satisfied before we will accept any instructions. i. Limits on Remittances. You will provide a statement of the purpose of the remittance. You may not transfer more than our specified maximum dollar limit in any single day. We may change any of the foregoing limits in our discretion at any time. Remittances may not be sent by us through or into any country in violation of U.S. laws. We will charge to and debit from the account identified in the instruction the amount of money specified in the instruction to be paid to the beneficiary designated therein and all fees and any costs and expenses. You must verify, prior to issuing an instruction for us to initiate a remittance, that funds are available in your account for us to initiate the remittance. If there are insufficient funds, we may, in our sole discretion: (i) execute the transaction, in which event, immediately upon our demand, you will pay to us all amounts sent and all fees and costs and expenses associated with the transfer; (ii) delay the remittance; or (iii) cancel the instruction and not complete the remittance. We will not have any liability to you or any other person for losses incurred by you or any other person when a remittance is not completed because there are not sufficient funds available. j. Limits on Liability and Indemnification. EXCEPT AS PROVIDED IN EXPRESS TERMS TO THE CONTRARY IN THIS MANUAL, THE SERVICE IS PROVIDED ON AN “AS IS”, “AS AVAILABLE” BASIS. WE MAKE NO WARRANTY, EXPRESS OR IMPLIED, TO YOU OR ANY OTHER PERSON REGARDING THE SERVICE, INCLUDING ANY WARRANTY OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE OR NONINFRINGEMENT. Subject to the limitations on our liability set forth in this Agreement, we will have liability to you for any losses you suffer or incur as a direct result of a material breach of this Agreement by us or as a direct result of our gross negligence or intentional misconduct in performing or failing to perform the Service. Our liability will be limited, however, as follows: (i) for delays in payment, our total liability to you or any person, including the beneficiary, will be limited to payment of interest for the period of delay; (ii) for non-completion of the instructions, our total liability to any person, including you, will be limited to reimbursement to such person of his or her actual out-of-pocket expenses in the funds transfer, and any actual out-of-pocket incidental expenses and interest losses; and (iii) for any other cause, the aggregate amount of the fees and charges paid by you to us for the Service during the prior 6 months. We will not be liable to you or any other person for, and you release us from liability with respect to (i) any indirect, consequential, special, incidental, exemplary or punitive damages, including loss of profits, loss of business or loss of data; or (ii) attorneys’ fees or fees of other professionals. You will fully indemnify us and hold us harmless, from and against all losses we may suffer or
47 addition, a notarized indemnity form as per the Bank’s specimen will be required) Correction on drafts or wire transfers $25 $25 * National Electronic Funds Transfers (NEFT)/Real Time Gross Settlement (RTGS) charges may be applied in India. Please refer to Reserve Bank of India website www.rbi.org.in for the exact NEFT/RTGS charges. # Charges will be levied on each instance of return on presentation/representation of check on request of the customer
11. International Transactions: Additionally, Card Holders may use the Card at ATM and Merchant Establishments in countries other than the U.S. and India, if so permitted by the Bank, and in currencies other than U.S. Dollars. The Transaction will be converted to U.S. dollars. The exchange rate is decided by MasterCard and not the Bank. The use of the Card may be restricted with respect to certain foreign countries as required by U.S. laws and regulations. Fees: The Bank provides the Card at no charge, subject to such changes as Bank may make from time to time with advance notice as provided by law. In some instances, there may be charges imposed by ATMs operated by other banks and financial institutions. Business Days: The Bank’s business days are Monday through Friday, 9:00 a.m. to 4:00 p.m. (cash services available up to 3:00 pm only) barring the banking holidays as prescribed by the New York Department of Financial Services. Disclosure of Account Information to Third Parties: Please see our privacy policy at the end of this agreement for privacy information.
The following is indicative list of eligible non-limited transactions:  Deposits  ATM Cash withdrawals subject to daily amount limits and sufficient available funds in the account  Withdrawals made in person or by mail at State Bank of India New York  Transfers made in person at State Bank of India New York The following is indicative list of transactions subject to the limit of (SIX) transfers:  Checks, Point of Sale (POS) transactions or debit card purchases  Automatic transfers to another deposit account at SBI, New York  Automatic transfers to a third party or another institution  Telephonic transfers including those initiated by phone call, fax, email through a Bank's representative  Online banking transfers and bill payments Should more than 6 (six) transfers or withdrawals which are subject to the limit, be effected in a month in an MMDA account, an excess check writing fee of $5.00 per excess check or transfer will be levied. Further, if the customer continues to violate the prescribed limit repeatedly, we shall send a letter to the customer, notifying him/her of the violation and also of our policy for reclassifying the account as Checking Account. In case the customer is not agreeable for reclassification, the account will be closed. The Bank reserves the right to enforce this clause if prescribed limits are violated in three consecutive months. We also reserve the right to refuse any transaction(s) which exceed the permissible limit. We are required by law to reserve the right of 7 days’ advance notice before permitting a withdrawal. However, we do not currently exercise this right.
State Bank of India New York Customer Manual for Deposits IRS, etc.) Printing and mailing of checks. First check book of up-to 50 leaves free thereafter the actual cost charged by the supplier Actual cost charged by the supplier Replacement/reimbursement fee for stop payments on official and certified checks $15 $15 Collection of checks, draft or other instruments drawn on banks outside the USA. $50 $50 Uncollected deposit items (checks/drafts negotiated through us which are drawn on other banks and are returned unpaid) $50 $50 Balance confirmation certificate $5 $5 For any other account information sought by the customer. Charges per instance per document: - For current calendar year - For previous calendar year - For all other years (up to 5 previous years) $ 5 $ 10 $ 15 $ 5 $ 10 $ 15 C. REMITTANCE FEES Rupee remittances Wire Transfer (Initiated through Online Banking) FREE* Rupee remittances –Wire Transfer (Other than Initiated through Online Banking) Up to US Dollar 999 or equivalent US Dollar 1000 or above $5 Free $5 Free Wire transfer in U.S. dollars to Any Bank $25 (For both Online on YONO and offline at Branch) $25 Wire transfer in currencies other than USD and INR For less than $2,500.00 $2,500.00 and above $35 Free $35 Free Cancellation of or issue of duplicate draft/refund of funds for lost draft. (In $25* $25*
State Bank of India New York Customer Manual for Deposits 42 otherwise incur on account of our provision of the Service to you and caused by your breach of our agreement or by your negligence, misconduct or other wrongful or illegal use of the Service. k. Privacy and Sharing and Use of Information. The information we obtain from you in connection with the Service may be confidential. We will maintain the confidentiality of such information in accordance with our normal procedures for safeguarding information regarding our customers and our Privacy Policy found elsewhere in this Manual. l. Special Rights Regarding “Remittance Transfers.” The Consumer Financial Protection Bureau’s Regulation E governs certain outgoing electronic international transactions initiated by consumers that are defined as “remittance transfers.” Included within the definition of a remittance transfer are wire transfers of funds from any of your consumer deposit or Money Market Deposit Accounts to third parties who are located, or whose accounts are located, in foreign countries. This means that when you request a remittance transfer: (1) You will receive specific disclosures about the details of the requested transfer before we will complete the transfer. (2) You have certain cancellation and refund rights in connection with the transfer if you change your mind within 30 minutes after making payment and the funds have not already been picked up or deposited into the recipient’s account. These rights are briefly summarized below. (3) You have certain rights if you suspect an error or problem with a remittance transfer. These rights are briefly summarized below. (4) We will send you a notice that we debited your account and you paid for the transfer. (5) Certain provisions of this Manual, which limit our liability to you or make you responsible for losses in various circumstances, do not apply and our or your liability or responsibility is instead governed by the Regulation E remittance transfer rules. Among other things, those rules provide that if you give us the incorrect account number or recipient institution identifier, you could lose the transfer amount. (6) There may also be other provisions of this Manual, that are inconsistent with certain rights or responsibilities of you or us under the Regulation E remittance transfer rules. In the event of any such inconsistency, Regulation E will control and this Manual, will be deemed modified so as to be consistent with the remittance transfer rules, without affecting the validity of any other provisions of the Manual. What to do if you want to cancel a remittance transfer: You have the right to cancel a remittance transfer and obtain a refund of all funds paid to us, including any fees. To cancel, you must contact us: by telephone at (212)-521-3234; by email at cancelremit.nyb@statebank.com or in person at the Bank within 30 minutes of making payment for the transfer. If you have initiated the remittance through new “YONO US Portal”, you can use the Cancellation facility within 30 minutes of creation of transaction to self-cancel the transfer. When you contact us, you must provide us with information to help us identify the transfer you wish to cancel, including your name, address and telephone number, the amount and location where the funds were to be sent and any identification number we have provided for you in connection with the transfer. We will refund your money within three business days of your request to cancel a transfer, as long as the funds have not already been picked up or deposited into the recipient’s
State Bank of India New York Customer Manual for Deposits 44 decide not to agree to the terms and conditions discussed therein, you may not use Internet Banking. The Online Banking Terms of Service govern Internet Banking and supersede any inconsistent agreements or requirements. However, the terms of this Manual will govern and supersede any inconsistent statements contained in the Online Banking Terms of Service with regard to the (i) types of accounts that you may have with the Bank and the terms of those accounts; (ii) Bank’s rules governing wire transfers or international remittances including our liability to you and how we will inform you about the costs and fees and exchange rates for remittances and your ability to stop the remittance; (iii) Bank’s privacy and sharing of information policies and (iv) governing law of our agreement. Note: The customer is required to give full name (no initials) while creating recipient for the purpose of sending remittances. Thank You IMPORTANT If there is a conflict between the information stated in any Bank agreement or brochure/Manual (including this one) and something said by one of our employees, the written information will be used to resolve the conflict. The Bank may refuse to follow any instructions it believes is not permitted under law or regulation. The Manual is governed by and shall be interpreted under the laws of the State of New York. Any litigation shall be filed and heard only in the federal or state courts located in New York. State Bank of India reserves the right to change the Manual as required by law or Bank policy. Such changes may be displayed on the notice board in the Bank, posted on the website (https://sbinewyork.statebank) or advised to customers by mail. If you have any questions regarding the information provided in the Manual or your account relationship, you may contact us by mail by writing to the following address: State Bank of India DRS Department 460 Park Avenue New York Branch, NY 10022 U.S.A. Tel : General: (212)521-3200
State Bank of India New York Customer Manual for Deposits 39 a. Funds Transfer Services to India Remittances can be sent both in US dollars and in Indian rupees, at your option. At What Rate Are Dollars Converted to Rupees? For remittances in Rupees, the conversion of US dollars into rupees will be done at the rate determined by SBI New York on the day and time of the conversion. For remittances in US dollars to India the funds will be converted into Rupees based on the laws and banking practice prevailing in India. Modes of Transfer of Funds Remittances can be sent through Wire transfer. Please note that Wire transfers in dollars can be sent only to those authorized branches of Banks where SWIFT facilities are available. While all efforts will be made to ensure timely delivery of funds to the beneficiaries, the Bank shall not be under any liability for any errors, negligence, default or any failure on the part of the remitting customer in furnishing vital information for good delivery of the funds. Please read the Terms and Conditions for the remittance mentioned on the remittance forms. b. Transfer of Funds to Other Banks in the U.S. Funds can be transferred to other banks in the U.S. through CHIPS or Fedwire, as we are members of both of these systems. Our ABA routing number is 0260-0914-0 and CHIPS UID is 034282. c. Transfer of Funds to Other Countries We can also transfer your funds to accounts in banks in foreign countries other than India through our correspondents. You may advise us the intermediary bank of your beneficiary’s Bank, wherever required. We can also quote firm exchange rates and effect remittances through our correspondents, in the following currencies: GBP, EUR, CAD, JPY, CHF, AUD, NPR, LKR, BDT Remittances in other currencies can be offered depending upon the volume of business and availability of correspondent relationship in that currency. d. How to Apply for a Remittance Request for remittance services mentioned in a, b, c above should be made through Internet Banking (online and offline) through our website (https://sbinewyork.statebank) or by submission of our prescribed application form. The remittance application form is available on our website https://sbinewyork.statebank. Individual customers can submit the form alongwith a copy of valid photo ID over the counter at the Branch or mail the set to the Branch. The Bank will not accept remittance form through fax or e-mail for individual customers. See “Schedule of Fees & Charges” in this Manual for applicable charges. e. Use of the Remittance Service (the “Service”) The Service is available for use only by individuals and corporate customers who are account holders at the Bank. The Service will permit you to issue non-repetitive orders for us to transfer funds from your account to accounts at other domestic or international financial institutions, in amounts up to any daily limits or individual customer limits which we may establish and change in our discretion
Contact for Higher Escalation vpeb.nyb@statebank.com vpdep.nyb@statebank.com 212-521-3311 212-521-3310 Trade Finance (i) Letter of Credit mgrlc.nyb@statebank.com 212-521-3275 (ii) Bills mgrbills.nyb@statebank.com 212-521-3273 Contact for Higher Escalation vptrade.nyb@statebank.com 212-521-3260 Credit Department Credit mgrcr1.nyb@statebank.com 212-521-3211 Contact for Escalation vpcr1.nyb@statebank.com 212-521-3262 Intermediary Wire Transfers Correspondent Banking and Intermediary Wire Transfers mgrpnr.nyb@statebank.com 212-521-3333 Contact for Higher Escalation vpicb.nyb@statebank.com 212-521-3329 If your issues are not resolved, you may contact the branch compliance officer : Phone No: 2125213229, Email: brco.nyb@statebank.com Please do not share your non-public information over email. Kindly use secured message service in online banking or send us your requests through mail*. *The mail is the service or system by which letters and packages are collected and delivered. Example: letters delivered through public carriers such as FED Ex, DHL, USPS, UPS etc. Mails received/Check received in mail on any given day will be attended to/processed on next business day only.
47 addition, a notarized indemnity form as per the Bank’s specimen will be required) Correction on drafts or wire transfers $25 $25 * National Electronic Funds Transfers (NEFT)/Real Time Gross Settlement (RTGS) charges may be applied in India. Please refer to Reserve Bank of India website www.rbi.org.in for the exact NEFT/RTGS charges. # Charges will be levied on each instance of return on presentation/representation of check on request of the customer
State Bank of India New York Customer Manual for Deposits IRS, etc.) Printing and mailing of checks. First check book of up-to 50 leaves free thereafter the actual cost charged by the supplier Actual cost charged by the supplier Replacement/reimbursement fee for stop payments on official and certified checks $15 $15 Collection of checks, draft or other instruments drawn on banks outside the USA. $50 $50 Uncollected deposit items (checks/drafts negotiated through us which are drawn on other banks and are returned unpaid) $50 $50 Balance confirmation certificate $5 $5 For any other account information sought by the customer. Charges per instance per document: - For current calendar year - For previous calendar year - For all other years (up to 5 previous years) $ 5 $ 10 $ 15 $ 5 $ 10 $ 15 C. REMITTANCE FEES Rupee remittances Wire Transfer (Initiated through Online Banking) FREE* Rupee remittances –Wire Transfer (Other than Initiated through Online Banking) Up to US Dollar 999 or equivalent US Dollar 1000 or above $5 Free $5 Free Wire transfer in U.S. dollars to Any Bank $25 (For both Online on YONO and offline at Branch) $25 Wire transfer in currencies other than USD and INR For less than $2,500.00 $2,500.00 and above $35 Free $35 Free Cancellation of or issue of duplicate draft/refund of funds for lost draft. (In $25* $25*
State Bank of India New York Customer Manual for Deposits 42 otherwise incur on account of our provision of the Service to you and caused by your breach of our agreement or by your negligence, misconduct or other wrongful or illegal use of the Service. k. Privacy and Sharing and Use of Information. The information we obtain from you in connection with the Service may be confidential. We will maintain the confidentiality of such information in accordance with our normal procedures for safeguarding information regarding our customers and our Privacy Policy found elsewhere in this Manual. l. Special Rights Regarding “Remittance Transfers.” The Consumer Financial Protection Bureau’s Regulation E governs certain outgoing electronic international transactions initiated by consumers that are defined as “remittance transfers.” Included within the definition of a remittance transfer are wire transfers of funds from any of your consumer deposit or Money Market Deposit Accounts to third parties who are located, or whose accounts are located, in foreign countries. This means that when you request a remittance transfer: (1) You will receive specific disclosures about the details of the requested transfer before we will complete the transfer. (2) You have certain cancellation and refund rights in connection with the transfer if you change your mind within 30 minutes after making payment and the funds have not already been picked up or deposited into the recipient’s account. These rights are briefly summarized below. (3) You have certain rights if you suspect an error or problem with a remittance transfer. These rights are briefly summarized below. (4) We will send you a notice that we debited your account and you paid for the transfer. (5) Certain provisions of this Manual, which limit our liability to you or make you responsible for losses in various circumstances, do not apply and our or your liability or responsibility is instead governed by the Regulation E remittance transfer rules. Among other things, those rules provide that if you give us the incorrect account number or recipient institution identifier, you could lose the transfer amount. (6) There may also be other provisions of this Manual, that are inconsistent with certain rights or responsibilities of you or us under the Regulation E remittance transfer rules. In the event of any such inconsistency, Regulation E will control and this Manual, will be deemed modified so as to be consistent with the remittance transfer rules, without affecting the validity of any other provisions of the Manual. What to do if you want to cancel a remittance transfer: You have the right to cancel a remittance transfer and obtain a refund of all funds paid to us, including any fees. To cancel, you must contact us: by telephone at (212)-521-3234; by email at cancelremit.nyb@statebank.com or in person at the Bank within 30 minutes of making payment for the transfer. If you have initiated the remittance through new “YONO US Portal”, you can use the Cancellation facility within 30 minutes of creation of transaction to self-cancel the transfer. When you contact us, you must provide us with information to help us identify the transfer you wish to cancel, including your name, address and telephone number, the amount and location where the funds were to be sent and any identification number we have provided for you in connection with the transfer. We will refund your money within three business days of your request to cancel a transfer, as long as the funds have not already been picked up or deposited into the recipient’s
11. International Transactions: Additionally, Card Holders may use the Card at ATM and Merchant Establishments in countries other than the U.S. and India, if so permitted by the Bank, and in currencies other than U.S. Dollars. The Transaction will be converted to U.S. dollars. The exchange rate is decided by MasterCard and not the Bank. The use of the Card may be restricted with respect to certain foreign countries as required by U.S. laws and regulations. Fees: The Bank provides the Card at no charge, subject to such changes as Bank may make from time to time with advance notice as provided by law. In some instances, there may be charges imposed by ATMs operated by other banks and financial institutions. Business Days: The Bank’s business days are Monday through Friday, 9:00 a.m. to 4:00 p.m. (cash services available up to 3:00 pm only) barring the banking holidays as prescribed by the New York Department of Financial Services. Disclosure of Account Information to Third Parties: Please see our privacy policy at the end of this agreement for privacy information.
q. Unauthorized Transactions: Tell us at once if you believe your Card has been lost or stolen, or if you believe that an electronic fund transfer has been made without your permission. Telephoning is the best way of keeping your possible losses down. If you tell us within 2 business days after you learn of the loss or theft of your Card, you can lose no more than $50 if someone used your Card without your permission.) If you do NOT tell us within 2 business days after you learn of the loss or theft of your Card, and we can prove we could have stopped someone from using your Card without your permission if you had told us, you could lose as much as $500. Also, if your statement shows transfers that you did not make, including those made by card, code or other means, tell us at once. If you do not tell us within 60 days after the statement was mailed to you, you may not get back any money you lost after the 60 days if we can prove that we could have stopped someone from taking the money if you had told us in time. If a good reason (such as a long trip or a hospital stay) kept you from telling us, we will extend the time periods. A Lost or Stolen Card may be reported by contacting: 1-800-523-4175. This toll-free number is available 24-hours a day. In case you wish to send us letter, our address is State Bank of India, Deposit Section, 460 Park Avenue, New York, NY 10022, USA. For purposes of these disclosures, our business days are Monday through Friday. All federal and state bank holidays are not included. Kindly read the Debit Card Agreement available as Annexure B on page 49 for more information relating to Debit Card Services. 10. Remittances: The minimum amount for initiating a remittance is USD 100.00 or its equivalent in other currencies.
State Bank of India New York Customer Manual for Deposits 40 from time to time. Our decision to approve your request to use the Service is within our sole discretion. Your rights in using the Service are governed by the terms set forth in this Manual and by any receipt or disclosures you receive at the time that you arrange for a remittance transfer. f. Fees. You will be assessed fees and other charges associated with the Service as detailed in the “Schedule of Fees & Charges” in this Manual. We reserve the right to change from time to time our fees and other charges. Our fees and charges will also be disclosed in the documentation you receive at the time that you arrange for a remittance transfer. g. Cancellation, Amendment and Termination. We may suspend or cancel the Service in our sole discretion. We may also limit or restrict your use of the Service, as provided below, in our sole discretion. If you wish to cancel a remittance more than 30 minutes after you have paid us, we will endeavor to do so if possible. Likewise, if you wish to amend an instruction that you have given us more than 30 minutes after you have paid us, we will endeavor to do so if possible. You may be charged a fee for such cancellations or amendments. h. Instructions. It is your responsibility to ensure that we are provided with accurate, clear, and correct instructions regarding your remittances. In case the remitter provides incorrect beneficiary account details or the remittance is returned by beneficiary bank for any reason, the remittance may be recalled by the branch and the amount so recalled would be converted at prevalent (INR-USD) purchase rate. We may refuse to accept instructions from anyone other than you in our sole discretion. We may also refuse to execute any remittance requests which are incomplete. You will strictly adhere to the security procedures applicable from time to time to the Service. Bank reserves the right to ask for any additional documents before/after processing the remittance. For remittances to NGOs/charitable purpose, the customer will have to provide the copy of updated FCRA (Foreign Contribution Regulation Act) certificate. The Bank reserves the right to not process the remittance if the FCRA (Foreign Contribution Regulation Act) number is not valid based on confirmation from Ministry of Home Affairs website of Government of India. All the remittance requests received at the SBI New York are subject to approval of our internal Compliance department. We may seek any additional information regarding the remittance like purpose of transactions, specific details about beneficiary etc. before executing the remittance. We may refuse to execute the remittance if the additional information sought is not provided by the remitter. If the beneficiary’s account number that you provide does not correspond to the name of the beneficiary that you provide, we will not be liable for losses resulting from the beneficiary’s financial institution paying the wrong person or does not accept the wire or places the funds in a suspense account pending clarification. We will not be liable to you or any other person for any losses resulting from the beneficiary’s financial institution accepting and posting any wire transfer to an incorrect account. We will also not be liable to you or the beneficiary of the wire or any other person for any fees that may be deducted by the beneficiary’s financial institution. We will not be liable for losses resulting from your failure to properly identify the financial institution where the beneficiary maintains an account.
State Bank of India New York Customer Manual for Deposits 43 account. What to do if you think there has been an error or problem with a remittance transfer: (1) Call us at 212-521-3234; or email at remiterror.nyb@statebank.com (2) Write to us at Remittance Section, State Bank of India, 460 Park Avenue, New York, NY-10022, USA. You must contact us within 180 days of the date we promised that the funds would be made available to the recipient. When you do, please tell us: (1) Your name and telephone number or address; (2) The error or problem with the transfer, and why you believe it is an error or problem; (3) The name of the person receiving the funds, and if you know it, his or her telephone number or address; (4) The dollar amount of the transfer; and (5) The confirmation code or number of the transaction. We will determine whether an error occurred within 90 days after you contact us, and we will correct any error promptly. We will tell you the results within three business days after completing our investigation. If we decide that there was no error, we will send you a written explanation. You may ask for copies of any documents we used in our investigation. 11. Internet Banking/ YONO US Portal: a. Internet Services This section of the Manual describes your use of the Bank’s Online Internet-based Banking Service (“Internet Banking”). By using the new Internet Banking, you may:  Open an account (Currently, this facility is not available)  Obtain account balance and other banking information  Transfer funds between own accounts  Transfer funds to other Banks within USA through Wire Transfers*  Transfer INR to India*  Transfer USD to any Bank outside USA too*  Send secure messages to the Bank  Order new checks / Stop Checks*  Uploading documents as attachment through Secure Message Platform  Pull fund from own accounts with other U.S. banks *Charges may apply b. Internet Banking Terms of Service You may enroll in our new Internet Banking at our website at https://sbinewyork.statebank/online- banking . Once you enroll on the new portal, you will have access to your account information for viewing purposes only. In order to obtain transaction rights in online banking mode, you must apply for Transaction Rights under “Requests/Services” Tab. The request shall be approved by the Bank upon receipt. During the enrollment process you will be presented with a copy of the Bank’s Online Banking Terms of Service. The Online Banking Terms of Service governs your use of the SBI Online Banking Services. Use of Internet Banking is expressly conditioned on your acceptance of these Online Banking Terms of Service. By using the Internet Banking, you acknowledge that you have read and agree to abide by the terms and conditions of these Online Banking Terms of Service. If you
State Bank of India New York Customer Manual for Deposits 37 purchase, but in some instances, they may be for a different amount as MasterCard’s rules permit "authorization" holds based upon an estimated amount of the transaction, and, in some instances, may include additional amounts authorized under MasterCard’s rules. The Card Holder agrees that such a “hold” may be placed on his account/accounts in the amount authorized. These authorization holds can affect the Card Holder’s available balance for other transactions. The amount of your available balance will be decreased by the amount of the “hold‟ for as long as the “hold‟ is in effect. This means that funds on “hold‟ will not be available for withdrawal, transfer or payment. In each instance, the Card Holder is responsible to the Bank for the amount that the Bank settles based upon either the placed-hold limits or the final amount presented and settled. The Card Holder will remain responsible to the Bank for settlement of all pre-authorized transactions even if such transactions come after the hold is removed. This is another reason that the Card Holder should take care to keep an accurate register and monitor the Account’s balance for pending transactions and cleared transaction to ensure that sufficient funds are in the Account at all times. k. Overdraft on Account of Pre-authorized Transactions: Please note that while the Bank does not provide any overdraft facility on your debit card transactions, the Bank shall have right to recover funds from you if your account gets over-drawn because the Bank has settled a preauthorized transaction done at a Merchant Establishment using your debit card or on account of other such transactions done using your debit card. You agree that you will remain responsible to the Bank for the amount by which your account is overdrawn. Any two occurrences of your account having non- sufficient funds to cover a pre-approved/ authorized debit card transaction will lead to closure of your account and cancellation of the linked debit card facility. l. Cancellation of Merchant debit-card authorizations: Generally, the Bank is not permitted to allow the Card Holder to cancel a hold within MasterCard limits for Transactions that were authorized by the Card Holder. If, however, the Card Holder suspects that a Transaction was fraudulent or otherwise unauthorized, the Card Holder should contact the Merchant and the Bank for possible ways to chargeback the debit. Please see the Error Resolution Procedures in subsequent paragraphs for more information. m. Notice Regarding Money Market Deposit Accounts: If the Account is a Money Market Deposit Account, certain limitations on transactions apply. A maximum of 6 transfers or withdrawals, or a combination of such transfers or withdrawals, are permitted during a calendar month or statement cycle of at least four weeks, including transfers or withdrawal by check, ACH to third parties, and/or Debit Card transactions with Merchant Establishments. However, any number of the following transactions using the Debit Card at an ATM are permitted: transfers of funds between your own Accounts held with the Bank and balance inquiries. n. International Transactions: Additionally, Card Holders may use the Card at ATMs and Merchant Establishments in U.S. and India. Any transaction done in INR will be converted to U.S. dollars. The exchange rate is established by MasterCard and not the Bank. The use of the Card may also be restricted with respect to certain foreign countries as required by U.S. laws and regulations. Any offer or option for exchange rate given by any ATM machine is no way related to SBI NY Branch and they are offered by local ATM service provider. Your account will be debited based upon the option selected by you.