IST,
Guidelines for the Trade Receivables Discounting System (TReDS)
| Guidelines for the Trade Receivables Discounting System (TReDS) |
|---|
| (Updated as on July 2, 2018) Micro, Small and Medium Enterprises (MSMEs), despite the important role played by them in the economic fabric of the country, continue to face constraints in obtaining adequate finance, particularly in terms of their ability to convert their trade receivables into liquid funds. In order to address this pan-India issue through setting up of an institutional mechanism for financing trade receivables, the Reserve Bank of India had published a concept paper on “Micro, Small & Medium Enterprises (MSME) Factoring-Trade Receivables Exchange” in March 2014. 2. Based on the public comments received on the concept paper and the subsequent draft guidelines issued for setting up and operating the system, and interactions held with relevant stakeholders, the following guidelines are being issued for setting up and operating the trade receivables system in the country. These Guidelines are issued by Reserve Bank of India under Section 10(2) read with Section 18 of Payment & Settlement Systems Act, 2007 (Act 51 of 2007). Scheme 3. The scheme for setting up and operating the institutional mechanism for facilitating the financing of trade receivables of MSMEs from corporate and other buyers, including Government Departments and Public Sector Undertakings (PSUs), through multiple financiers will be known as Trade Receivables Discounting System (TReDS). 4. The TReDS will facilitate the discounting of both invoices as well as bills of exchange. Further, as the underlying entities are the same (MSMEs and corporate and other buyers, including Government Departments and PSUs), the TReDS could deal with both receivables factoring as well as reverse factoring so that higher transaction volumes come into the system and facilitate better pricing. 5. The transactions processed under TReDS will be “without recourse” to the MSMEs. Definitions 6. For the purpose of the Scheme, notwithstanding any other definition used in any other context, scheme, law or document, the following definitions are used: a) Factoring unit - a standard nomenclature used in the TReDS for an invoice or a bill on the system. Factoring Units may be created either by the MSME seller (in the case of factoring) or by corporate and other buyers, including Government Departments and PSUs, (in case of reverse factoring) as the case may be. b) Financier – refers to banks, NBFC Factors and other financial institutions as permitted by the Reserve Bank of India participating in the TReDS and accepting the factoring unit for financing purpose. Participants 7. MSME sellers, corporate and other buyers, including the Government Departments and PSUs, and financiers (banks, NBFC Factors and other financial institutions as permitted by the Reserve Bank of India) will be direct participants in the TReDS. The TReDS will provide the platform to bring these participants together for facilitating uploading, accepting, discounting, trading and settlement of the invoices / bills of MSMEs. The bankers of sellers and buyers may be provided access to the system, where necessary, for obtaining information on the portfolio of discounted invoices / bills of respective clients. The TReDS may tie up with necessary technology providers, system integrators and entities providing dematerialisation services for providing its services. Process flow and procedure 8. The objective of the TReDS is to facilitate financing of invoices / bills of MSMEs drawn on corporate and other buyers, including the Government Departments and PSUs, by way of discounting by financiers. To enable this, the TReDS has to put in place suitable mechanism whereby the invoice / bill is converted into “factoring unit” as indicated in the Annex. 9. In the first phase, the TReDS would facilitate the discounting of these factoring units by the financiers resulting in flow of funds to the MSME with final payment of the factoring unit being made by the buyer to the financier on due date. In the second phase, the TReDS would enable further discounting / re-discounting of the discounted factoring units by the financiers, thus resulting in its assignment in favour of other financiers. 10. The process flow of the TReDS has to enable at the minimum, the uploading of invoices/bills and creation of factoring units by the MSME sellers; its acceptance by the corporate and other buyers, including the Government Departments and PSUs, within a specified time limit; discounting, rating and re-discounting of factoring units; sending of notifications at each stage to the relevant parties to the transaction; reporting and MIS requirements; and finally, generation and submission of settlement of obligations. In case of reverse factoring, the buyer could also create factoring units based on the documents uploaded by the MSME seller. A brief illustrative outline of the minimum features required in the process flow is given in the Annex. 11. The actual business, technical and operational processes and procedures to be followed in the system will be prepared by the entity operating the TReDS, and will be part of the Procedural Guidelines for the system. 12. The TReDS may also undertake some random audits to ensure that the factoring units uploaded on the exchange are authentic & based on genuine underlying transactions involving the sale of goods or services. 13. TReDS would put in place a standardized mechanism / process for on-boarding of buyers and sellers on the TReDS. This one-time on-boarding process will require the entities to submit all KYC related documents to the TReDS, along with resolutions / documents specific to authorised personnel of the buyer, and the MSME seller. Such authorised personnel would be provided with IDs / Passwords for TReDS authorisations (multi-level). Indemnity in favour of TReDS, if required, may also be given if it is made part of the standardized on-boarding process. 14. The KYC documentation and its process may be standardised and disclosed to all stakeholders by TReDS. As it requires confirmation of the banker of the MSME seller / buyer, as the case may be, the KYC documentation may be synchronous with the documentation / verification done by the banks in adherence to the extant regulatory requirements (Reserve Bank of India’s “Master Direction - Know Your Customer (KYC) Direction, 2016” dated February 25, 2016 (as amended from time to time)). 15. There would be a one-time agreement drawn up amongst the participants in the TReDS: a) Master agreement between the financier and the TReDS, stating the terms and conditions of dealings between both the entities. b) Master agreement between the buyers and the TReDS, stating the terms and conditions of dealings between both the entities. This agreement should clearly capture the following aspects:
c) Master agreement between the MSME sellers and the TReDS, stating the terms and conditions of dealings between both the entities. The agreement should also have a declaration / undertaking by the MSME seller that, in respect of goods and services underlying the factoring unit, no finance is extended by the working capital financing bank and such goods and services are not charged to the working capital financing bankers (i.e., finance availed through the TReDS would not be part of existing charge / hypothecation of its working capital bankers). d) In case of financing on the basis of invoices, an assignment agreement would need to be executed between the MSME seller and the financier. Alternatively, this aspect may be incorporated in the agreement between the MSME seller and the financier, to the effect that any financing transaction on TReDS will tantamount to an assignment of receivables in favour of whoever is the financier. e) The TReDS will be in custody of all the agreements. 16. Other procedural aspects of TReDS functioning and operations may be incorporated either in the Master Agreement, if so necessitated by the participants, or in the Procedural Guidelines where applicable. In all instances, such procedural aspects, even if incorporated in the Master Agreements, should be in adherence to regulatory norms issued from time to time. The Master Agreement may also clearly indicate that any legal proceedings to be initiated by one entity against another, if at all, will be outside the purview of TReDS. 17. TReDS will also review the need for CERSAI registration for the assignments as indicated above, and put in place a suitable mechanism for the same (preferably driven automatically through the TReDS), as soon as feasible after a factoring unit has been accepted for financing by a financier. Settlement process 18. Critical to the operations of the TReDS is the mechanism that ensures timely settlement of funds between the member financiers and the MSME sellers (when the factoring unit is financed) and the subsequent settlement of funds between the member buyers and the respective financiers on due date of the factoring unit. In order to ensure a smooth process of such payments, the TReDS would be required to: a) Trigger settlement between financier and MSME for accepted bids - In respect of all factoring units financed on a given day, the TReDS will generate the payment obligations of all financiers on T+2 basis and send the file for settlement in any of the existing payment system as agreed among the system participants. The TReDS would have to put in place a separate recourse mechanism to handle settlement failures in respective payment systems. b) Trigger settlement between the buyer and the ultimate financier on due date - the TReDS would generate the payment obligations file and send the same for settlement on due date to the relevant payment system. 19. The TReDS will generate the settlement files and send the same to existing payment systems for actual payment of funds. This would ensure that the inter-bank settlement (between the bankers representing member MSMEs, buyers and the financiers) will take place and defaults, if any, by the buyers will be handled by the buyer’s bank and will not be the responsibility of the TReDS. Hence, the settlement process ensures payments to relevant recipients on due date, thus, facilitating the smooth operations on the TReDS. However, it would not entail a guaranteed settlement by the TReDS. 20. The TReDS would be required to put in place a mechanism for bankers to report defaults in payments by buyers. The TReDS would also need to ensure adequate arbitration and grievances redressal mechanism is in place. Regulatory framework for TReDS 21. The TReDS, which undertakes clearing and settlement activities, would be governed by the regulatory framework put in place by the Reserve Bank of India under the Payment and Settlement Systems Act 2007 (PSS Act). It will function as an authorised payment system under the PSS Act 2007. The activities of the TReDS as well as those of the participants in the TReDS would be governed by the relevant legal and regulatory provisions applicable to various stakeholders in the system. As such, the processes and procedures of the TReDS should be compliant with such legal and regulatory provisions which may be issued and amended from time to time by respective authorities. Eligibility criteria to set up and operate the TReDS 22. Entities desirous of setting up and operating the TReDS should fulfil the following criteria. (a) Financial Criteria (i) Since the TReDS will not be allowed to assume any credit risk, its minimum paid up equity capital shall be Rs. 25 crore. (ii) The foreign shareholding in the TReDS would be as per the extant foreign investment policy. (iii) Entities, other than the promoters, will not be permitted to have shareholding in excess of 10 per cent of the equity capital of the TReDS. (iv) The overall financial strength of the promoters/entity seeking to set up TReDS would be an important criteria of assessment/selection. (b) Due diligence of promoters The entities and their promoters/promoter groups as defined in the SEBI (Issue of Capital & Disclosure Requirements) Regulations, 2009 should be ‘fit and proper’ in order to be eligible to operate as TReDS. RBI would assess the ‘fit and proper’ status of the applicants on the basis of their past record of sound credentials and integrity; financial soundness and track record of at least 5 years in running their businesses. RBI may, inter alia, seek feedback on the applicants on these or any other relevant aspects from other regulators, and enforcement and investigative agencies like Income Tax, CBI, Enforcement Directorate, SEBI, etc. as deemed appropriate. (c) Technological capability The TReDS should have sound technological basis to support its operations. As such, the TReDS should, at the minimum, fulfil the following technological requirements.
Application procedure for Authorisation 23. The general guidelines as well as the application format for any non-bank entity to seek authorisation under the PSS Act for operating a payment system are available at /documents/87730/21647585/86707.pdf 24. Entities meeting the eligibility criteria as outlined in the Guidelines and desirous of setting up the TReDS, may apply in the prescribed format to the Chief General Manager, Department of Payment and Settlement Systems, Reserve Bank of India, 14th Floor, Central Office Building, Shaheed Bhagat Singh Marg, Mumbai – 400001, as and when the window for receipt of applications for this purpose is opened. Illustrative Outline of Process flow under TReDS a) Corporate and other buyers, including Government Departments and Public Sector Undertakings, send purchase order to MSME seller (outside the purview of the TReDS). b) MSME seller delivers the goods along with an invoice. There may or may not be an accepted bill of exchange depending on the trade practice between the buyer and the seller (outside the purview of the TReDS). c) Thereafter, on the basis of either an invoice or a bill of exchange, the MSME seller creates a ‘factoring unit’ (which would be a standard nomenclature used in the TReDS for an invoice or a bill on the system) on TReDS. Subsequently, the buyer also logs on to TReDS and flags this factoring unit as ‘accepted’. In case of reverse factoring, this process of creation of factoring unit could be initiated by the buyer. d) Supporting documents evidencing movement of goods etc. may also be hosted by the MSME seller on the TReDS in accordance with the standard list or check-list of acceptable documents indicated in the TReDS. e) The TReDS will standardise the time window available for buyers to ‘accept’ the factoring units, which may vary based on the underlying document – an invoice or bill of exchange. f) The TReDS may have either a single or two separate modules for transactions with invoices and transactions with Bills of Exchange, if so required. In either case, all transactions routed through TReDS will, in effect, deal with factoring units irrespective of whether they represent an invoice or a bill of exchange. g) Factoring units may be created in each module as required. Each such unit will have the same sanctity and enforceability as allowed for physical instruments under the “Factoring Regulation Act, 2011” or under the “Negotiable Instruments Act, 1881” h) The standard format / features of the ‘factoring unit’ will be decided by the TReDS – it could be the entire bill/invoice amount or an amount after adjustment of tax / interest etc. as per existing market practice and as adopted as part of the TReDS procedure. However, each factoring unit will represent a confirmed obligation of the corporate and other buyers, including Government Departments and PSUs, and will carry the following relevant details – details of the seller and the buyer, issue date (could be the date of acceptance), due date, tenor (due date – issue date), balance tenor (due date – current date), amount due, unique identification number generated by the TReDS, account details of seller for financier’s reference (for credit at the time of financing), account details of buyer for financier’s reference (for debit on the due date), the underlying commodity (or service if enabled). i) The TReDS should be able to facilitate filtering of factoring units (by financiers or respective sellers / buyers) on any of the above parameters. In view of the expected high volumes to be processed under TReDS, this would provide the necessary flexibility of operations to the stakeholders. j) The buyer’s bank and account details form an integral feature of the factoring unit. The creation of a factoring unit on TReDS shall result in automatic generation of a notice / advice to the buyer’s bank informing them of such units. k) These factoring units will be available for financing by any of the financiers registered on the system. The all-in-cost quoted by the financier will be available on the TReDS. This price can only be viewed by the MSME seller and not available for other financiers. l) There will be a window period provided for financiers to quote their bids against factoring units. Financiers will be free to determine the time-validity of their bid price. Once accepted by the MSME seller, there will be no option for financiers to revise their bids quoted online. m) The MSME seller is free to accept any of the bids and the financier will receive the necessary intimation. Financiers will finance the balance tenor on the factoring unit. n) Once a bid is accepted, the factoring unit will get tagged as “financed” and the funds will be credited to the seller’s account by the financier on T+2 basis (T being the date of bid acceptance). The actual settlement of such funds will be as outlined under the Settlement section. o) Once an accepted factoring unit has been financed by a financier, notice would be sent to buyer’s bank as well as seller’s bank. While the buyer’s bank would use this information to ensure availability of funds and also handle the direct debit to the buyer’s account on the due date in favour of the financier (based on the settlement obligations generated by the TReDS), the seller’s bank will use this input to adjust against the working capital of the MSME seller, as necessary (the TReDS procedures may, if necessary, also indicate that the proceeds of the accepted and financed factoring units will be remitted to the existing working capital / cash credit account of the MSME seller). If agreed by members, the TReDS may also provide the option to members, whereby the financiers would take direct exposure against the buyers rather than through their bankers. p) On the due date, the financier will have to receive funds from the buyer. The TReDS will send due notifications to the buyers and their banks advising them of payments due. The actual settlement of such funds will be as outlined under the Settlement section. q) Non-payment by the buyer on the due date to their banker should tantamount to a default by the buyer (and be reported as such as per regulatory procedures prescribed from time to time) and enable the banker to proceed against the buyer. Any action initiated in this regard, will be strictly non-recourse with respect to the MSME sellers and outside the purview of the TReDS. r) These instruments may be rated by the TReDS on the basis of external rating of the buyer, its credit history, the nature of the underlying instrument (invoice or bill of exchange), previous instances of delays or defaults by the buyer with respect to transactions on TReDS, etc. s) The rated instruments may then be further transacted / discounted amongst the financiers in the secondary segment. t) Similar to the primary segment, any successful trade in the secondary segment will also automatically result in a direct debit authority being enabled by the buyer’s bank in favour of the financier (based on the settlement obligations generated by the TReDS). In parallel, it will also generate a ‘notice of assignment’ intimating the buyer to make the payment to the new financier. u) In the event that a factoring unit remains unfinanced, the buyer will pay the MSME seller outside of the TReDS. In order to meet the requirements of various stakeholders, the TReDS should ensure to provide various types of MIS reports including intimation of total receivables position, financed and unfinanced (to sellers); intimation of outstanding position, financed and unfinanced with details of beneficiaries and beneficiary accounts to be credited (for buyers); total financed position for financiers; etc. Similarly, data on unfinanced factoring units in the market should also be made available by the TReDS. The system should also generate due date reminders to relevant parties, notifications to be issued to bankers when a factoring unit is financed, notifications to be issued to buyers once a factoring unit related to their transaction is traded in the secondary segment, etc. |
List of Banks permitted for issuance and operation of Prepaid Payment Instruments in India
| List of Banks permitted for issuance and operation of Prepaid Payment Instruments in India as on November 09, 2022 | |
|---|---|
| S No. | Name of the Banks |
| 1 | Airtel Payments Bank Limited |
| 2 | American Express Banking Corporation |
| 3 | A. P. Mahesh Co-operative Urban Bank Limited |
| 4 | Au Small Finance Bank Limited |
| 5 | Axis Bank Limited |
| 6 | Bandhan Bank Limited |
| 7 | Bank of Barodaµ |
| 8 | Bank of India |
| 9 | Bank of Maharashtra |
| 10 | Barclays Bank PLC |
| 11 | Canara BankΩ |
| 12 | Central Bank of India |
| 13 | Citi Bank N.A. |
| 14 | City Union Bank Limited |
| 15 | DBS Bank India Limited |
| 16 | DCB Bank Limited |
| 17 | Equitas Small Finance Bank Limited |
| 18 | ESAF Small Finance Bank Limited |
| 19 | Fincare Small Finance Bank Limited |
| 20 | Fino Payments Bank Limited |
| 21 | First Rand Bank |
| 22 | HDFC Bank Limited |
| 23 | ICICI Bank Limited |
| 24 | IDBI Bank Limited |
| 25 | IDFC FIRST Bank Limited |
| 26 | Indian Bankℼ |
| 27 | Indian Overseas Bank |
| 28 | IndusInd Bank Limited |
| 29 | Jana Small Finance Bank Limited |
| 30 | Jio Payments Bank Limited |
| 31 | Karnataka Bank Limited |
| 32 | Karur Vysya Bank Limited |
| 33 | Kerala Gramin Bank |
| 34 | Kotak Mahindra Bank Limited |
| 35 | Lakshmi Vilas Bank Limited |
| 36 | NSDL Payments Bank Limited |
| 37 | Paytm Payments Bank Limited |
| 38 | Pragathi Krishna Gramin Bank |
| 39 | Punjab National Bankα |
| 40 | Punjab & Sind Bank |
| 41 | SBM BANK (INDIA) LTD. |
| 42 | South Indian Bank Limited |
| 43 | Standard Chartered Bank |
| 44 | State Bank of India@ |
| 45 | Tamilnad Mercantile Bank Limited |
| 46 | The Ahmedabad Mercantile Co-operative Bank Limited |
| 47 | The Catholic Syrian Bank Limited |
| 48 | The Dhanlaxmi Bank Limited |
| 49 | The Federal Bank Limited |
| 50 | The Gujarat State Co-operative Bank Limited |
| 51 | The New India Co-operative Bank Limited |
| 52 | The Rajasthan State Co-operative Bank Ltd. |
| 53 | TJSB Sahakari Bank Limited |
| 54 | RBL Bank Limited |
| 55 | The Saraswat Co-operative Bank Limited |
| 56 | UCO Bank |
| 57 | Union Bank of Indiaβ |
| 58 | Yes Bank Limited |
| @ As per the Government of India order dated February 22, 2017 regarding acquisition of State Bank of Bikaner and Jaipur, State Bank of Hyderabad, State Bank of Mysore, State Bank of Patiala, State Bank of Travancore by State Bank of India, the erstwhile associate banks of SBI have merged with SBI with effect from April 1, 2017. µ As per the Government of India Gazette Notification dated January 02, 2019, Vijaya Bank and Dena Bank amalgamated with the Bank of Baroda with effect from April 01, 2019. α As per the Government of India Gazette Notification dated March 4, 2020, Oriental Bank of Commerce and United Bank of India amalgamated with Punjab National Bank with effect from April 01, 2020. β As per the Government of India Gazette Notification dated March 4, 2020, Andhra Bank and Corporation Bank amalgamated with Union Bank of India with effect from April 01, 2020. Ω As per the Government of India Gazette Notification dated March 4, 2020, Syndicate Bank amalgamated with Canara Bank with effect from April 01, 2020. ℼ As per the Government of India Gazette Notification dated March 4, 2020, Allahabad Bank amalgamated into Indian Bank with effect from April 01, 2020. |
|
Customer Facilitation Centres
| Customer Facilitation Centres – NEFT (Updated as on March 15, 2023) | |||
|---|---|---|---|
| S No | BANK NAME | PHONE | E Mail |
| 1 | ABHYUDAYA COOPERATIVE BANK LIMITED | Tel: 022-25260172 | neftcell@abhyudayabank.net |
| 2 | AHMEDABAD MERCANTILE COOPERATIVE BANK | Tel: 079-26426582-84-88 | treasury@amco-bank.com |
| 3 | AHMEDNAGAR MERCHANTS CO-OP BANK LTD | Tel: 9767477700 | admin@amcbank.in; suresh.katariya@rediffmail.com |
| 4 | AIRTEL PAYMENTS BANK LIMITED | Tel: 0124-4247797 | nefthelpdesk@airtelbank.com |
| 5 | AKOLA JANATA COMMERCIAL COOPERATIVE BANK | Tel: 0724-2430012/ 2430241/2430639 | rtgsneftops@akolajanatabank.com |
| 6 | ALMORA URBAN COOPERATIVE BANK LTD. | Tel: 05946-286300; 05962-231947; 05962-230743 | rtgs.aucb@almoraurbanbank.com info@almoraurbanbank.com |
| 7 | AMBARNATH JAI HIND CO -OP BANK LTD | Tel: 0251 2605068/2605069/2600696 | rtgs@jaihindbank.com; jaihindbank@gmail.com |
| 8 | ANDHRA PRADESH GRAMEEN VIKAS BANK | Tel: 7382620369, 9490153763, 9440903904, 9491065590 | treasury@apgvbank.in; cmaccounts@apgvbank.in; cmit@apgvbank.in |
| 9 | ANDHRA PRAGATHI GRAMEENA BANK | Tel: 7382633823 | rtgsneft@apgb.in |
| 10 | APNA SAHAKARI BANK LIMITED | Tel: 022-24103313 | cpd@apnabank.co.in, |
| 11 | AU SMALL FINANCE BANK LIMITED | Tel: 9116181332/ 7340011989/ 9116181708 | rtgsneft@aubank.in; epay@aubank.in |
| 12 | AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED | Tel: 022 4112 0073 | indiapcomumbaioffice@anz.com pgsupport.india@anz.com |
| 13 | AXIS BANK | Tel: 022 - 24253491 /3492 / 3493 | cfc@axisbank.com |
| 14 | B N P PARIBAS | Tel: 022- 61964645 / 4646 / 4640 / 4642 | cms.payments@asia.bnpparibas.com |
| 15 | BANDHAN BANK LIMITED | Tel: 033-40456456 Ext: 5415 |
rtgsneft.desk@bandhanbank.com |
| 16 | BANK OF AMERICA | Tel: 044-42904526/4711/4527/4525 | dg.payments_chennai@bofa.com |
| 17 | BANK OF BAHARAIN AND KUWAIT BSC | Tel: 022-22880038 / 22823698 / 99 Extn - 246/238 | csdmumbai@bbkindia.com |
| 18 | BANK OF BARODA | Tel: 0265-2316160/6161 | neft.mumbai@bankofbaroda.com |
| 19 | BANK OF CEYLON | Tel: 044-39519907/9902, 044-28190972 | bocops@bankofceylon.in |
| 20 | BANK OF INDIA | Tel: 022-61312997 | boi.neft@bankofindia.co.in |
| 21 | BANK OF MAHARASHTRA | Tel: 020 2450 4005/ 4006 | bomneft@mahabank.co.in |
| 22 | MUFG Bank, Ltd. | Tel: 011-41003456 /220 /275 /453 /464 | ndledp@vsnl.net.in |
| 23 | BARCLAYS BANK | Tel: 022-61754261 / 4619 / 4620 / 4670 | grcbpayment.ops@barclays.com |
| 24 | Bassein Catholic Co-op Bank Ltd | +91-8888837146 | rtgs@bccb.co.in |
| 25 | BHAGINI NIVEDITA SAHAKARI BANK LTD | Tel: 020-25479707/25479708, 9822034166 020-25447619/25447620 |
neft_rtgs@bhagininiveditabank.com, madhura.karve@bhagininiveditabank.com, ho@bhagininiveditabank.com |
| 26 | BHARAT COOPERATIVE BANK MUMBAI LIMITED | Tel: 022-61890106/ 107 | payments@bharatbank.co.in |
| 27 | Canara Bank | Tel: 080-25129486/87/88/89 080-25129496 |
horeconhelpdesk@canarabank.com neft@canarabank.com |
| 28 | CAPITAL SMALL FINANCE BANK LTD. | Tel: 0181-5050759/727/730/775 | epayments@capitalbank.co.in treasury@capitalbank.co.in |
| 29 | CSB BANK LIMITED | Tel: 0484-6615504/ 05, 9072601527/ 528 |
rtgs@csb.co.in |
| 30 | CENTRAL BANK OF INDIA | Tel: 022-22637966 | cbineftcfc@centralbank.co.in |
| 31 | CHINATRUST COMMERCIAL BANK LIMITED | Tel: 011-43688888 , 233560001 | in.customerservices@ctbcbank.com |
| 32 | CITI BANK | Tel: 022 6132 8761; 022 6132 8891; 022 6132 8570 |
pay.ops@citi.com India.citiservice@citi.com paylink.rtgs@imcap.ap.ssmb.com rtgs.citi@citi.com |
| 33 | CITIZEN CREDIT COOPERATIVE BANK LIMITED | Tel: 022-22658969 | neft.rtgs@citizencreditbank.com; cm.cpd@citizencreditbank.com; agm3@citizencreditbank.com; dgm3@citizencreditbank.com |
| 34 | CITY UNION BANK LIMITED | Tel: 044-28297905 | payment_system@cityunionbank.in |
| 35 | CREDIT AGRICOLE CORPORATE AND INVESTMENT BANK CALYON BANK | Tel: 022-67371030/1031 | rtgs.crly@ca-cib.com |
| 36 | CREDIT SUISSE AG | Tel: 022 6777 3417022 6777 3510 | list.rtgs.cres@credit-suisse.com |
| 37 | DARUSSALAM CO-OPERATIVE URBAN BANK LTD | 040-24805176 / 8125108125 | dcub1000@darussalambank.com; dcub_ho@darussalambank.com |
| 38 | DCB BANK LIMITED | Tel: 022-66187225/228/244/243/283/246/021 | neft@dcbbank.com |
| 39 | DEOGIRI NAGARI SAHAKARI BANK LTD | Tel: 0240-2240212/2484827/28 | neftrtgs@deogiribank.com |
| 40 | DEPOSIT INSURANCE AND CREDIT GUARANTEE CORPORATION | Tel: 022-23062680, 23084121 | dicgccsd@rbi.org.in |
| 41 | DEUTSCHE BANK | Tel: 022-71806411, 022-71803524, 022-71806318, 022-71803918 | neft.deutsche@db.com / rtgs.deutsche@db.com |
| 42 | DBS BANK INDIA LTD. | Tel: 022 – 6833 0934 | paymentrecall@dbs.com |
| 43 | DHANALAKSHMI BANK | Tel: 0487-6627046 / 084 | neft@dhanbank.co.in, rtgs.dlxb@dhanbank.co.in, rtgs@dhanbank.co.in |
| 44 | DMK JAOLI BANK LTD | Tel: 022-23828488 | jsbl@vsnl.com; hoaccounts@jaolibank.in |
| 45 | DOHA BANK QPSC | 022-6286 1161, 022-6286 1162, 022-6286 1186 |
indiahelpdesk@dohabank.co.in |
| 46 | DOMBIVLI NAGARI SAHAKARI BANK LIMITED | Tel: 0251-2875000-9, 0251-2875077/78/79 | info@dnsb.co.in |
| 47 | DURGAPUR STEEL PEOPLES COOPERATIVE BANK LTD | Tel: 0343 - 2575711, 9475413151 8373090004 |
clearingcell@dspcoopbank.com dspcoop@gmail.com; chanchal.pal@dspcoopbank.com |
| 48 | EMIRATES NBD BANK PJSC | Tel: 8879020254 | rtgsebil@EmiratesNBD.com |
| 49 | EQUITAS SMALL FINANCE BANK | Tel: 044-30898048/8068/8015/8056 | rtgs-cell@equitasbank.com |
| 50 | ESAF SMALL FINANCE BANK LIMITED | Tel: 0487 - 2373290, 9072604056,8589975585,8589933364,9072600833 | payments@esafbank.com; nitha.kannan@esafbank.com; aby.abraham@esafbank.com; binumon.k@esafbank.com |
| 51 | EXPORT IMPORT BANK OF INDIA | Tel: 022-22172669/2647/2438/2444 | rtgs@eximbankindia.in |
| 52 | FEDERAL BANK | Tel: 0484-2752051, 2752077 | neft@federalbank.co.in |
| 53 | FINCARE SMALL FINANCE BANK | Tel: 080 - 42504444 Ext 643, 611, 610 | cpcpayments@fincarebank.com |
| 54 | FINO PAYMENTS BANK LTD | Tel: 022-71047116, 022-71047025, 022- 71047191 | neftrtgs.cell@finobank.com, care@finobank.com, customercare@finobank.com |
| 55 | FIRST ABU DHABI BANK PJSC | Tel: 022-33311131/1151 | mumbaisupportit@nbad.com |
| 56 | FIRSTRAND BANK LIMITED | Tel: 022-66258682/ 66258666/ 66258629 | frin.tradeoperations@firstrand.co.in |
| 57 | G P PARSIK BANK | Tel: 022-25456500, Extn. 6529, 6509 | invest@gpparsikbank.com; accounts@gpparsikbank.net |
| 58 | GS MAHANAGAR COOPERATIVE BANK LTD | Tel: 022- 24710952 / 24710962 / 24710821 | edpmanager@mahanagarbank.com |
| 59 | HARYANA STATE CO-OP APEX BANK | Tel: 0172-2784278 | harco17@gmail.com; neft@harcobank.org.in; rtgs@harcobank.org.in |
| 60 | HDFC BANK LTD | Tel: 022-30752044 / 53 | neftoutward@hdfcbank.com; neftinward@hdfcbank.com |
| 61 | HIMACHAL PRADESH STATE COOPERATIVE BANK LTD | Tel: 0177-2659641 | rtgs.hpsc@hpscb.com |
| 62 | HSBC BANK | Tel: 022-45053307, 61223370 | paymentinvestigations@hsbc.co.in |
| 63 | HUTATMA SAHAKARI BANK LTD WALWA | 0231-2664025/ 26 | ITCELL@HUTATMABANK.COM; HO@HUTATMABANK.COM |
| 64 | ICICI BANK LTD | Tel: 022- 33667777 & 040- 33667777 Fax: 040-41064450 |
neft.query@icicibank.com |
| 65 | IDBI BANK | Tel : 022 – 66552776/77/78, 022-66700304 022-66908536 |
etpc@idbi.co.in; rtgsneftops@idbi.co.in |
| 66 | IDFC FIRST BANK | Tel: 49850059/58/55/56/61 | cfc@idfcfirstbank.com neftcell@idfcfirstbank.com |
| 67 | IDUKKI DISTRICT CO OPERATIVE BANK LTD | Tel: 04862 – 235141 | it@idukkidcb.in |
| 68 | INDIA POST PAYMENTS BANK LIMITED | Tel: 011-23815485, 23815488 | rtgs.cfc@ippbonline.in |
| 69 | Indian Bank | 044-28294988 044-28134173 |
rtgscell@indianbank.co.in |
| 70 | INDIAN OVERSEAS BANK | Tel: 044-28584896, 28889397 | rtgscell@iobnet.co.in |
| 71 | INDUSIND BANK | Tel: 022-42271639/40/41/42, 022-62815131/ 5123 | neft@indusind.com |
| 72 | INDUSTRIAL AND COMMERCIAL BANK OF CHINA LIMITED | Tel: 022-33155931/5926 | rtgs.icbk@india.icbc.com.cn |
| 73 | INDUSTRIAL BANK OF KOREA | Tel: 011-40768000 / 8022 / 8009 | neft.ibko@ibk.co.kr ibkamitdeb@ibk.co.kr rohit@ibk.co.kr |
| 74 | IRINJALAKUDA TOWN CO-OPERATIVE BANK LTD | Tel: 9447755843, 9497068429, 9847411160, 0480-2670300, 2670331 | ho@itubank.com, mail@itubank.com |
| 75 | JALGAON JANATA SAHAKARI BANK LIMITED | Tel: 0257-2235534/2234794 | jjsbrtgs@gmail.com |
| 76 | JAMMU AND KASHMIR BANK LIMITED | Tel: 0194-2481930/31/32/33/34/35 | neftservices@jkbmail.com; jakaneft@jkbmail.com |
| 77 | JANA SMALL FINANCE BANK | Tel: 080-33425262/Ext:358/143 | channel_payments@janabank.com |
| 78 | JANASEVA SAHAKARI BANK BORIVLI LIMITED | Tel : 022- 28914747, 28333522 | jssbl@mtnl.net.in |
| 79 | JANASEVA SAHAKARI BANK LIMITED | Tel: 020-24440097 | investment@janasevabankpune.com |
| 80 | JANATA SAHAKARI BANK LTD, PUNE | Tel: 020 24521092020 24521093Mobile: 9970013148 | jsbservice@janatabankpune.com |
| 81 | JANKALYAN SAHAKARI BANK | Tel: 022-25222582/ 25246804, 022-25264123/122/151/111 | jksbl@jksbl.com |
| 82 | JIO PAYMENTS BANK LIMITED | Tel: 022-35554097 | rajesh3.gupta@ril.com |
| 83 | JP MORGAN CHASE BANK | Tel:- 022-61575043, 022 61573844, 022 61573837 Tel:- 022 61573305 / 61573445 / 61573667 |
mumbai.cash.operation@jpmorgan.com funding.mumbai.branch@jpmorgan.com rtgs_chas@jpmorgan.com |
| 84 | KALLAPPANNA AWADE ICHALKARANJI JANATA SAHAKARI BANK LIMITED | Tel: 0230-2427263 | treasury@ijsbank.com |
| 85 | KALUPUR COMMERCIAL COOPERATIVE BANK | Tel: 079-27582020 to 27582026 | info@kalupurbank.com rtgs.kccb@kalupurbank.com |
| 86 | KALYAN JANATA SAHAKARI BANK | Tel: 0251-2219009 / 9030 / 9024 | kjsbrtgs@kalyanjanata.in |
| 87 | KARNATAKA BANK LIMITED | Tel: 022 - 22823031/32 | neft.srbr@ktkbank.com |
| 88 | KARNATAKA VIKAS GRAMEENA BANK | Tel: 0836-2442204 | kvgbhoit@gmail.com neftrtgscell@kvgbank.com |
| 89 | KOOKMIN BANK | 124-4532222 | ravish.arora@kbfg.com sheenu.chawla@kbfg.com ravish.dutta@kbfg.com |
| 90 | THE KARUR VYSYA BANK LTD | Tel: 0422–2227778, 0422–2227779, 0422-2227760 | neft@kvbmail.com; neftcfc@kvbmail.com |
| 91 | KEB HANA BANK | Tel: 044-49056320/6305 | kebchennai@hanafn.com |
| 92 | KERALA GRAMIN BANK | Tel: 0497-2704810 | neftcell.kgb@keralagbank.com |
| 93 | KOTAK MAHINDRA BANK LIMITED | Tel: 022-6605 6597 / 98 / 99 | neftrtgs.query@kotak.com |
| 94 | KOZHIKODE DISTRICT COOP BANK LTD. | Tel: 0495-2701520 | rtgs@kdcbank.com |
| 95 | MAHARASHTRA GRAMIN BANK | Tel: 0240-2476141, 022-25435154, 25344059/60 |
rtgs@mahagramin.co.in neft@mahagramin.co.in mgbneftcell@gmail.com |
| 96 | MAHARASHTRA STATE COOPERATIVE BANK | Tel: 022 22800653/654, 22822216 | paymentcell@mscbank.com; rtgs@mscbank.com |
| 97 | MAHESH SAHAKARI BANK LTD PUNE | Tel: 8446113097 & 7720932223 | accounts@maheshbankpune.in |
| 98 | MASHREQBANK PSC | Tel: 022-66327200/300/301 | opsindia@mashreq.com; |
| 99 | MIZUHO BANK LTD. | Tel: 022 49112000/21/23/61 022 49112746/77 | inward.remittances@mizuho-cb.com |
| 100 | MODEL CO-OPERATIVE BANK LTD. | Tel: 022-66914227/ 8080938018 | rtgs@modelbank.in |
| 101 | NABARD | Tel: 9321966445 (022-26539793) |
fd.disb@nabard.org |
| 102 | NAGAR URBAN CO OPERATIVE BANK | Tel: 0241-2346941, 2343642 | rtgs@nagarurbanbank.com |
| 103 | NAGPUR NAGARIK SAHAKARI BANK LIMITED | Tel: 0712-2764313 ,2761386 | neft@nnsbank.com |
| 104 | NEW INDIA CO-OPERATIVE BANK LTD | Tel: 022 6626 4353 | rtgsdesk@newindiabank.in / rtgs.nicb@newindiabank.in |
| 105 | NKGSB COOPERATIVE BANK LIMITED | Tel: 022-67545022,67545009 | rtgs@nkgsb-bank.com |
| 106 | NORTH EAST SMALL FINANCE BANK | Tel: 0361-7180001 | customercare@nesfb.com |
| 107 | NSDL Payment Bank Ltd | Tel: 022-42022100 | care@nsdlbank.co.in nspboperations@nsdlbank.co.in |
| 108 | NUTAN NAGARIK SAHAKARI BANK LIMITED | Tel: 079-26445229 | rtgs@nutanbank.com |
| 109 | PAYTM PAYMENTS BANK LIMITED | Tel: 0120-4456456 | neftrtgs.support@paytmbank.com |
| 110 | KARNATAKA GRAMIN BANK | 08194-234315, 08194-234215 | hoanx.neftcell@kgbk.in; dbswing.kgbk@kgbk.in |
| 111 | PRIME CO-OP. BANK LTD. | Tel: 0261 - 2804777 | rtgs@primebankindia.com |
| 112 | PT BANK MAYBANK INDONESIA TBK | Tel: 022-67303422/3423 | rtgs.ibbk@maybank.co.in |
| 113 | PUNJAB AND MAHARSHTRA COOPERATIVE BANK | Tel: 022-61284316/4317/4313 | rtgs@pmcbank.com |
| 114 | PUNJAB AND SIND BANK | Tel: 011-25860657,25826216 | b0385@psb.co.in; rtgs@psb.co.in |
| 115 | PUNJAB NATIONAL BANK | Tel: 022-22627511 | neft@pnb.co.in |
| 116 | QATAR NATIONAL BANK (Q.P.S.C.) | Tel: 022-62296306/ 6311 | indiaoperations@qnb.com |
| 117 | RABOBANK INTERNATIONAL | Tel: 022-22097890/7900/7881 | fm.in.mumbai.cmps@rabobank.com |
| 118 | RAJARAMBAPU SAHAKARI BANK | Tel: 9890080260 | account@rajarambapubank.org; |
| 119 | RAJARSHI SHAHU SAHAKARI BANK Ltd | 020-24432557, 020-24435384, 020-24435385 |
rtgsneft@rajarshishahubankpune.com |
| 120 | RAJGURUNAGAR SAHAKARI BANK LIMITED | Tel : 02135- 222085,222118 | rtgs.rsbl@rajgurunagarbank.com |
| 121 | RAJKOT NAGARIK SAHAKARI BANK LTD. | Tel: 0281-2238524, 2226476, 2222054 | rtgsops@rnsbindia.com, rtgs@rnsbindia.com, |
| 122 | RBL BANK LIMITED | Tel: 022- 48829025 to 42 | rtgsneftoperation@rblbank.com |
| 123 | RESERVE BANK OF INDIA (FOR GOVT BANKING DIVISION) | Tel: 022-22603329 | neftpadmumbai@rbi.org.in |
| 124 | SAHEBRAO DESHMUKH COOPERATIVE BANK LIMITED | Tel : 022-28522514/15, 022-28520369 | clg@sdcbank.in |
| 125 | SAMARTH SAHAKARI BANK LTD. | Tel: 02172744214 | rtgs.sbls@samarthbank.com |
| 126 | SARASWAT COOPERATIVE BANK LIMITED | (022) 67315444, 67315402 | rtgs_neft@saraswatbank.com; suhas.shidhaye@saraswatbank.com |
| 127 | SBER BANK | Tel: 011-40048888, 40048886, 40048887 | u.bhatnagar@sberbank.co.in |
| 128 | SBM BANK MAURITIUS LIMITED | Tel: 022-43028888/801/802 | csdmumbai@sbm-india.com |
| 129 | SHIKSHAK SAHAKARI BANK LIMITED | Tel: 0712-2722705 / 2774866 | rtgs.sksb@shikshakbank.com |
| 130 | SHINHAN BANK | Tel: 022-61992000 | operations.mum@shinhan.com; patra@shinhan.com; treasury.bo.ind@shinhan.com; rtgs.shbk@shinhan.com |
| 131 | SHIVALIK SMALL FINANCE BANK LIMITED | Tel: 0132-2726125 0132-2726147 |
rtgs@shivalikbank.com |
| 132 | SHRI CHHATRAPATI RAJASHRI SHAHU URBAN COOPERATIVE BANK LIMITED | Tel - 2442-229772, 2442-228961 | headoffice@shahubank.com |
| 133 | SHRI VEERSHAIV CO-OP BANK LTD | Tel: 0231-2536940, 8380051173 | nitincharankar@shriveershaivbank.com |
| 134 | SINDHUDURG DCCB LTD | Tel: 02362-229005 To 10 | rtgs.neft@sindhudurgdcc.com |
| 135 | SIR M. VISVESWARAYA CO-OP BANK LTD. | Tel: 9480885371, 9449599908 | hl.suresh@yahoo.co.in; l.ganesh@vcb.co.in |
| 136 | SOCIETE GENERALE | Tel: 022-66309500 | mum.oper.mop@socgen.com |
| 137 | SOLAPUR JANATA SAHAKARI BANK LIMITED | Tel – 0217-2741100 | info@sjsbbank.com |
| 138 | SOUTH INDIAN BANK | 0484 2556003, 080 28543444. | rtgscell@sib.co.in rtgscell1@sib.co.in |
| 139 | STANDARD CHARTERED BANK | Tel: 044-674-41156 / 044-674-41251 | neft.recall@sc.com |
| 140 | STATE BANK OF INDIA | Tel: 022-2756 0743 / 022-2756 0746 | neft@sbi.co.in |
| 141 | SUMITOMO MITSUI BANKING CORPORATION | Tel: 011-47689111 | rtgs_smbc@in.smbc.co.jp |
| 142 | SURAT NATIONAL COOPERATIVE BANK LIMITED | Tel: 0261-2464 621 to 624 | rtgs.sunb@sncb.in |
| 143 | SURYODAY SMALL FINANCE BANK LTD | Tel: 022-41856734/40436757 | payments@suryodaybank.com |
| 144 | SUCO SOUHARDHA SAHAKARI BANK LTD. | Tel: 08392-255201/08392-254104/ 08392-297296 | neft.suco@sucobank.com rtgs.suco@sucobank.com |
| 145 | THE SUTEX COOPERATIVE BANK LIMITED | Tel: 0261-2632519, 2632027/28 | rtgs.support@sutexbank.in |
| 146 | TAMILNAD MERCANTILE BANK LIMITED | Tel: 044-28131092/28131091 | rtgs@tmbank.in |
| 147 | Telangana State Co-Op Apex Bank | Tel: 040-23443814/ 24685501, 040-24685568, 040-23443845 | rtgscell@tscab.org |
| 148 | TEXTILE TRADERS COOP BANK LTD. | Tel : 079-26430545079-26434255 / 26434200 | rtgs.ttcb@ttcbank.co.in headoffice@ttcbank.co.in |
| 149 | THE A.P. MAHESH COOPERATIVE URBAN BANK LIMITED | Tel: 040- 24732711/22 | info@apmaheshbank.com; hofin@apmaheshbank.com |
| 150 | THE AKOLA DISTRICT CENTRAL CO-OPERATIVE BANK LTD, AKOLA | Tel: 0724-2415107, 0724-2415108, 18002332393 | rtgs.adcc@akoladccbank.com |
| 151 | THE ANDHRA PRADESH STATE COOPERATIVE BANK LIMITED | Tel: 040-27687417/568/579 | rtgscell@apcob.org |
| 152 | THE BANK OF NOVA SCOTIA | Tel: 022-6636 4200 | support.mumbai@scotiabank.com |
| 153 | THE BARAMATI SAHAKARI BANK | Tel: 02112-224865 Ext : 316 | rtgs@baramatibank.com |
| 154 | THE COSMOS CO OPERATIVE BANK LIMITED | Tel: 022-2447 6043 / 44, 022-2447 4278 | neftcell@cosmosbank.in |
| 155 | THE DELHI STATE COOPERATIVE BANK LIMITED | 011-41705038 011-23281924 |
bkg.dscb@gmail.com, banking@dscb.in dscbrtgs2014@gmail.com |
| 156 | THE GADCHIROLI DISTRICT CENTRAL COOPERATIVE BANK LIMITED | Tel: 07132-232050,232965, 233438,233570, 8055143754 (Pravin Janganwar) | gdcc_gad@gdccbank.com |
| 157 | THE GREATER BOMBAY COOPERATIVE BANK LIMITED | Tel: 022 61285927/61285900 | clearing@greaterbank.com |
| 158 | THE GUJARAT STATE COOPERATIVE BANK LIMITED | Tel: 079-27459013, 27459916, 27459033 | info@gscbank.coop |
| 159 | THE HASTI COOP BANK LTD | Tel: 02566-245616, 247306, 244106, 244306, 247306, 247307 | rbiusersgroup@hastibank.org |
| 160 | THE JALGAON PEOPELS COOPERATIVE BANK LIMITED | Tel: 0257-2227711 to16 | rtgs.jpcb@jpcbank.com |
| 161 | The Kangra Central Co-Op Bank Ltd | Tel: 01892-222269 Ext. 268 | dbdc@kccb.in |
| 162 | THE KANGRA COOPERATIVE BANK LIMITED | Tel: 011-23582056 | ser_branch@kangrabank.com |
| 163 | THE KARAD URBAN COOPERATIVE BANK LIMITED | Tel: 022-24171471 | treasury@karadurbanbank.com |
| 164 | THE KARANATAKA STATE COOPERATIVE APEX BANK LIMITED | Tel: 080-22976614 | rtgs@karnatakaapex.com |
| 165 | THE KURMANCHAL NAGAR SAHAKARI BANK LIMITED | Tel: 05942-263574 | kurmanchalbank@yahoo.com |
| 166 | THE MEHSANA URBAN COOPERATIVE BANK | Tel: 02762-240761 | info@mucbank.com |
| 167 | THE MUMBAI DISTRICT CENTRAL COOPERATIVE BANK LIMITED | Tel: 022-22616911/12 | neft@mumbaidistrictbank.com |
| 168 | THE MUNICIPAL COOPERATIVE BANK LIMITED | Tel: 022- 22616911/12 | accounts@mcbmumbai.com |
| 169 | THE NAINITAL BANK LIMITED | Tel: 011-23583041/40 | rtgshelpdesk@nainitalbank.co.in |
| 170 | THE NASIK MERCHANTS COOPERATIVE BANK LIMITED | Tel: 0253-2308210 /0253-2308213 | rtgsneft@namcobank.in; helpdesk@namcobank.in; cto@namcobank.in |
| 171 | THE NAVNIRMAN CO OP BANK LTD. | Tel: 079-26568259 079-26568258 | support@navnirmanbank.com |
| 172 | THE PANDHARPUR URBAN CO OP. BANK LTD. PANDHARPUR | Tel: 02186-228484, 223163, 223484 | rtgsneft@pandharpurbank.com |
| 173 | THE RAJASTHAN STATE COOPERATIVE BANK LIMITED | Tel: 0141-2744704 | rscb.raj@gmail.com |
| 174 | THE SEVA VIKAS COOPERATIVE BANK LIMITED | Tel: 020-27412289, 020-27413371 | rtgs.svbl@sevavikasbank.com |
| 175 | THE SHAMRAO VITHAL CO OP BANK | Tel: 022-71991468-75 | rtgscell@svcbank.com |
| 176 | THE SURAT DISTRICT CO-OP BANK LTD. | Tel: 0261-2466012, 0261-2466018 | agmbanking@sudicobank.com; treasury@sudicobank.com |
| 177 | THE SURATH PEOPLES COOPERATIVE BANK LIMITED | Tel: 0261-2464621 to 624 | info@spcbl.in |
| 178 | THE TAMIL NADU STATE APEX COOPERATIVE BANK | Tel: 044-25358859/2308, 044-25340973 | rtgs@tnscbank.com |
| 179 | THE THANE BHARAT SAHAKARI BANK LIMITED | Tel: 022-25404747/50/51 | rtgs.tbsb@thanebharatbank.net; rtgs.tbsb@tbsbl.com |
| 180 | THE THANE DISTRICT CENTRAL COOPERATIVE BANK LIMITED | Tel: 022-25433510 | edp@thanedistrictbank.com |
| 181 | THE UDAIPUR URBAN CO-OPERATIVE BANK LTD. | Tel: 8279128886 | addlceo@uucbudaipur.com |
| 182 | THE VARACHHA COOPERATIVE BANK LIMITED | Tel: 0261-4008146/47 | nefthelpdesk@varachhabank.com |
| 183 | THE VISHWESHWAR SAHAKARI BANK LIMITED | Tel: 020-24271397, 020-24261755/2745 | treasury@vishweshwarbank.com |
| 184 | THE WEST BENGAL STATE COOPERATIVE BANK LTD | Tel: 033 4004 2721, 4000 0386 | infoneft@wbstcb.com |
| 185 | THE ZOROASTRIAN COOPERATIVE BANK LIMITED | Tel: 022-22696050 | rtgs.zcbl@zcbl.in |
| 186 | THRISSUR DISTRICT COOPERATIVE BANK LTD | 04872329520 | neftrtgs@thrissurdcb.com |
| 187 | TJSB SAHAKARI BANK LTD | Tel: 022-25838527 | rtgs.tjsb@tjsb.co.in |
| 188 | TUMKUR GRAIN MERCHANTS COOPERATIVE BANK LIMITED | Tel : 0816-4021102/03, 0816-2257636 | rtgs.tgmb@tgmcbank.com |
| 189 | UCB PERINTHALMANNA | Tel: 9447077586, 9447326689, 9447404902 | info@ucbpmna.com; ucbpchiefacct@gmail.com; ucbpagm@gmal.com |
| 190 | UCO BANK | Tel: 022-66547342,7343,7344 & 7359 | rtgsneftcell@ucobank.co.in |
| 191 | UJJIVAN SMALL FINANCE BANK | Tel: 080 40712193 | ujjivan-neft@ujjivan.com |
| 192 | UNION BANK OF INDIA | Tel: 022 22896510 / 6587 | neftcell@unionbankofindia.com |
| 193 | UNITED OVERSEAS BANK LIMITED | Tel: 022-42472814/11/12/15 | uob.mumbai@uobgroup.com |
| 194 | UTKARSH SMALL FINANCE BANK LTD | Tel: 1800-123-9878 | customercare@utkarsh.bank |
| 195 | VASAI JANATA SAHAKARI BANK | Tel: 0250 2308898/2308327; Mobile:7774038963; 8879001410 |
s.thakare@vjsbl.com; dc@vjsbl.com neft-rtgs@vjsbl.com martin.sequeira@vjsbl.com |
| 196 | VASAI VIKAS SAHAKARI BANK LIMITED | Tel: 0250-2326998, 0250-2326984 | rtgs@vasaivikasbank.co.in |
| 197 | WOORI BANK | Tel: 044-33466952 | rtgs.hvbk@wooribank.com |
| 198 | YES BANK | Tel: 18001200, 022-68547571, 022-50229981, 022-68548087 |
yestouch@yesbank.in; cfc@yesbank.in |
| 199 | SANT SOPANKAKA SAHAKARI BANK LTD. | Tel: 020-24444001 020-24444002 Mobile: 9763723710 |
rtgsneft@santsopankakabank.com; ad_gaikwad@santsopankakabank.com; am_gavali@santsopankakabank.com; sachin_jagtap@santsopankakabank.com; vs_pawar@santsopankakabank.com; edp@santsopankakabank.com; sp_ghare@santsopankakabank.com; vikas_jagtap@sopankakabank.com; an_shinde@santsopankakabank.com; dm_sabne@sopankakabank.com |
| 200 | ZILA SAHAKRI BANK LIMITED GHAZIABAD | Tel: 0120-2824884/85/86, 0120-2823955 | rtgs.zsbl@zsblghaziabad.com |
| 201 | NAVJEEVAN CO-OP. BANK LTD. | Tel: 0251-2572101 | navjeevanbank@njcb.in |
| 202 | VIJAY COOPERATIVE BANK | 079-26587011 079-26581960 079-26580750 |
edp@vijaycooperativebank.com; agm@vijaycooperativebank.com |
| 203 | KERALA STATE CO-OPERATIVE BANK | 0471-2547252, 0471-2547249 | kscb@keralacobank.com; cobankcad@yahoo.co.in |
| 204 | Nilambur co –operative bank ltd | Hareesh VS: 9961766976 Rajeev R Nair: 9495762810 |
hareeshvs@nilamburcub.com; rajeevrnair@nilamburcub.com |
| 205 | Rajasthan Marudhara Gramin bank | Gaurav Agrawal : 7073454003 Gyan Prakash Gupta : 7073454371 |
psg@rmgb.in fac@rmgb.in |
| 206 | Saraspur Nagarik Co – Operative Bank | Dhaval Patel: 9727845001 Vishal Mistry: 9898177066 Ankur Patel: 9662625065 |
info@saraspurbank.com sncbank@gmail.com neftrtgssncbank@gmail.com |
| 207 | MALKAPUR URBAN CO-OP BANK LTD. | Tel: 9422207012 Rajesh Bapat(Asst. Manager) | bapatmlk@rediffmail.com |
| 208 | AJARA URBAN CO-OP BANK LTD. | Tel: 0232-3246084/ 8007030197/ 7798960981 |
headit@ajarabank.com; rtgs.rbi@ajarabank.com |
| 209 | UTTAR PRADESH CO-OPERATIVE BANK LTD | Tel: 0522-4151200 Ext-402 2623806, 2623740Mobile: 7525006048 |
rtgshelpdesk@upcbl.in itcell@upcbl.in |
| 210 | MUSLIM COOPERATIVE BANK LTD. | Tel: 020 – 26435007/ 020 - 24475215 / 24473521 |
nazimmulla72@gmail.com 0502ruby@gmail.com ahmed@muslimcooperativebank.com |
| 211 | ODISHA STATE COOPERATIVE BANK LTD. | Tel: 0674-2375100/2510528 | oscb.cbs2013@gmail.com |
| 212 | SATARA SAHAKARI BANK LTD | Tel: 8108479999, 022-24124743, 022-24146371 |
rtgsneft@satarabank.net, info@satarabank.net |
| 213 | PUSAD URBAN COOPERATIVE BANK LTD. | Tel: 0712-2292644, 7888097938 | ho@pucbl.org, rtgs@pucbl.org, nagpur@pucbl.org |
| 214 | COASTAL LOCAL AREA BANK LTD | 0866-2494425/26 | rtgs.neft@coastalareabank.com |
| 215 | THE PUNJAB STATE COOPERATIVE BANK LTD. | Tel: 0172-5067016 | neftrtgs@pscb.in |
| 216 | THE NAWANAGAR CO-OPERATIVE BANK LTD. | Tel: 0288-2563984/85 | rtgsneftops@nawanagarbank.co.in |
| 217 | ARVIND SAHAKARI BANK LTD. | Tel: 9860304002, 9860361472, 9765861919 | asbl_ho@arvindbank.com ravi.harjal@arvindbank.com yogesh.wankhede@arvindbank.com vaishali.moundekar@arvindbank.com |
| 218 | Sree Charan Souhardha Co-operative Bank Ltd | 080 - 26676837 080 - 26606836 +91 9901453378 +91 9901453385 |
manager.accounts@sreecharanbank.com it.support@sreecharanbank.com it.head@sreecharanbank.com |
| 219 | Janatha Seva Co-operative Bank Ltd. | 080-29776055, 080-23504924, 080-23110019, 9980846055 |
jscbneftcell@jscbl.com jscbrtgscell@jscbl.com girishbg@jscbl.com yogesh.b@jscbl.com geetha.c@jscbl.com |
| 220 | Bombay Mercantile Co-operative Bank Ltd. | 022-23019825 | cfc@bmcbank.co.in |
| 221 | Jila Sahakari Kendriya Bank Maryadit Rajnandgaon | 07744-223620, 220409, 224408 |
cbs@jskbrjn.com, account@jskbrjn.com, jskbrajnandgaon@jskbrjn.com |
| 222 | The Banaskantha Mercantile Co-Operative Bank Ltd. | 02742-253849 7573031002 |
rtgsdesk@bmcbbank.com; admin@bmcbbank.com |
| 223 | The Satara District Central Co-Op Bank Ltd. | 02162-236036 | rtgsneft@sataradccb.com |
| 224 | The Malad Sahakari Bank Ltd. | 022-7506444054/55, 022-28838636, 022-28889898 |
accounts@maladbank.com it@maladbank.com |
| 225 | The Akola Urban Co-operative Bank Ltd., Akola | 0724-2453851 | rtgs@aucbakola.com |
| 226 | Smriti Nagrik Sahakari Bank Maryadit, Mandsaur | 07422-405622 | smritibank@smritibank.com |
| 227 | Pavana Sahakari Bank Ltd Pune | 020-67171600 020-67171601 |
neftrtgs@pavanabank.com |
| 228 | Chhattisgarh Rajya Gramin Bank | 0771-4388819 | psg@cgbank.in |
| 229 | The Meghalaya Co-Operative Apex Bank Ltd. | 0364-2224160 0364-2226169 |
headoffice@megcab.com |
| 230 | Shree Kadi Nagarik Sahakari Bank Ltd. | 02764-263500, 9904997770, 8511074025 |
it@knsb.in; info@knsb.in; support@knsb.in |
| 231 | Saurashtra Gramin Bank | 0281-2482422 | neft-rtgs_support@sgbrrb.org |
| 232 | Unity Small Finance Bank Limited | 022-42159421 / 557 | payments@unitybank.co.in |
Application for participation in RBI NEFT System
| Contents | ||||
|---|---|---|---|---|
| ANNEXE-2 Form NEFT-1A RBI NEFT System Application for participation in RBI NEFT System ORIGINAL/DUPLICATE/TRIPLICATE Ref. No.. . . .. . . . . . .. .. .. . Date . . . ./. .. . /
The Chief General Manager Dear Sir/ Madam, Our bank/financialinstitution/organisation requests Reserve Bank of India’s approval for participation in the RBI NEFT System and agrees to abide by the Procedural Guidelines for RBI NEFT System in the event of being admitted into the System. We would comply with the technical and operational requirements of the NEFT System and would meet the settlement obligations from the current accounts maintained with Reserve Bank of India.
1. Name of the bank/financial institution/organisation: 2. No. of branches having connectivity all over India and can participate in the NEFT with T+0 settlement. |
Financial Market Infrastructures regulated by RBI
| Financial Market Infrastructures regulated by RBI |
|---|
| The following FMIs are regulated by the RBI: 1. Real Time Gross Settlement System (RTGS): RTGS system was implemented in March 2004. RTGS system is owned and operated by the RBI. It is a Systemically Important Payment System (SIPS) where the inter-bank payments settle on a 'real' time and on gross basis in the books of the RBI. RTGS system also settles Multilateral Net Settlement Batch (MNSB) files emanating from other ancillary payment systems including the systems operated by the Clearing Corporation of India Limited. RBI is in the process of implementing the Next Generation RTGS (NG-RTGS) built on ISO20022 standards with advance liquidity management functions, future date functionality, scalability, etc. 2. Securities Settlement Systems (SSS): The Public Debt Office (PDO) of the RBI, Mumbai manages and operates the Securities Settlement Systems for the Government securities, both for outright and repo transactions conducted in the secondary market. Government securities (outright) are settled using DVP model 3 mechanism on a T+1 basis. Repos are settled on T+0 or T+1 basis. Additionally the PDO system also acts as depository for dematerialized government securities. With implementation of the Core Banking Solution (CBS) in the RBI, the securities settlement system has been migrated to the CBS platform. 3. Clearing Corporation of India Ltd (CCIL): CCIL is a Central Counterparty (CCP) which was set up in April 2001 to provide clearing and settlement for transactions in Government securities, foreign exchange and money markets in the country. CCIL acts as a central counterparty in various segments of the financial markets regulated by the RBI viz. the government securities segment i.e. outright, market repo and triparty repo, USD-INR and forex forward segments. Moreover, CCIL provides non-guaranteed settlement in the rupee denominated interest rate derivatives like Interest Rate Swaps/Forward Rate Agreement market. It also provides non-guaranteed settlement of cross currency trades to banks in India through Continuous Linked Settlement (CLS) bank by acting as a third-party member of a CLS Bank settlement member. CCIL also acts as a trade repository for OTC interest rate and forex derivative transactions. Other critical market infrastructures which are designated as FMIs 4. Negotiated Dealing System- Order Matching (NDS-OM): NDS-OM is owned by the RBI and is operated by CCIL on behalf of the RBI. NDS-OM is an electronic, screen based, anonymous, order driven trading system for dealing in Government securities which was introduced in 2005. The NDS-OM ensures complete anonymity among the participants and brings transparency in secondary market transactions in Government securities. The NDS-OM facilitates straight-through-processing (STP) as all the trades on the system are automatically sent to the CCIL for settlement. With the efficiency and ease of its operations, the NDS-OM today accounts for major portion of the trading volume in Government securities. |
Service Charges on Cheque Clearing
| Service Charges on Cheque Clearing |
|---|
| i) Local Cheques The service / processing / maintenance charges levied from other member banks by the bank managing a Clearing House are as follows – (a) MICR Cheque Processing Centres (MICR CPCs): The processing charges for the instruments processed at MICR-CPCs were recovered on a monthly basis by debit to the accounts of the member banks maintained with the bank managing the Clearing House, or by any other method, at the rate prescribed by the Reserve Bank of India. The bank managing a MICR Cheque Processing Centre was not entitled to levy any other extra charges, for a service / facility relating to the clearing process other than the rate prescribed by Reserve Bank of India towards processing charges. The charges prescribed were @ ` 2.50 per cheque (` 1/- from the presenting bank and ` 1.50 from the drawee bank). It may however be mentioned that all MICR CPCs in the country have now been subsumed with Cheque Truncation System. (b) Cheques processed through Grid based Cheque Truncation System (CTS) Presently Grid based Cheque Truncation System has been put in place through National Payments Corporation of India (NPCI) in New Delhi, Mumbai and Chennai. NPCI shall not levy any other extra charges, for a service / facility relating to the clearing process other than the rate prescribed by Reserve Bank of India towards processing charges. Currently the charges prescribed are @ ` 1.50 per cheque (` 0.50 from the presenting bank and ` 1.00 from the drawee bank). (c) Other Clearing Houses: The bank managing the Clearing House may recover the charges incurred by it towards rent for accommodation, depreciation on equipment and furniture, and recurring establishment expenses including salaries paid to the staff of the bank conducting the clearing calculated on a proportionate basis for the period for which their services are utilised for the clearing operations, and overtime allowance paid to such staff for the purpose of balancing the books / reconciling the differences in the clearing, telephones, electricity, stationery, maintenance charges for equipment and expenses towards any other facilities provided, which, shall be shared equally by all the members. (d) Charges for banks managing back-up clearing centres (MICR and non-MICR centres) Banks managing back-up clearing centres (primary or alternate) shall get themselves compensated by the member banks of the Clearing House for the relative investment made by them on computer hardware / software and other operating expenses on equal sharing basis. Additionally, the back-up banks may also recover expenses incurred by them during contingencies / disruptions / contingency drills from the member banks of the Clearing House. The expenses recovered must be reasonable and should be approved by the President of the Clearing House. (ii) Charges to customer on cheque collections Charges for clearing cheques, both local and outstation, are levied by banks based on their collection policies and will be disclosed in the individual Cheque Collection Policies framed and placed on their website. Notwithstanding the above, the charges levied by banks for offering the cheque collection service should not exceed the framework of charges as indicated in RBI circular DPSS.CO.CHD.No.1671/03.06.01/2010-11 dated January 19, 2011. Copy of the circular has been made available under the link |
List of Participants
| List of NEFT Member Banks | ||
|---|---|---|
| Sl. No. | BANK NAME | No. of Indian Financial System Code Enabled Bank Branches as on March 15, 2023 |
| 1 | ABHYUDAYA COOPERATIVE BANK LIMITED | 112 |
| 2 | AHMEDABAD MERCANTILE COOPERATIVE BANK | 35 |
| 3 | AHMEDNAGAR MERCHANTS CO-OP BANK LTD | 19 |
| 4 | AIRTEL PAYMENTS BANK LIMITED | 1 |
| 5 | AKOLA JANATA COMMERCIAL COOPERATIVE BANK | 40 |
| 6 | ALMORA URBAN COOPERATIVE BANK LIMITED | 51 |
| 7 | AMBARNATH JAIHIND COOP BANK LTD AMBARNATH | 19 |
| 8 | ANDHRA PRADESH GRAMEENA VIKAS BANK | 793 |
| 9 | ANDHRA PRAGATHI GRAMEENA BANK | 561 |
| 10 | APNA SAHAKARI BANK LIMITED | 82 |
| 11 | ARVIND SAHAKARI BANK LTD | 6 |
| 12 | AU SMALL FINANCE BANK LIMITED | 562 |
| 13 | AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED | 1 |
| 14 | AXIS BANK | 5615 |
| 15 | B N P PARIBAS | 8 |
| 16 | BANDHAN BANK LIMITED | 1320 |
| 17 | BANK OF AMERICA | 4 |
| 18 | BANK OF BAHARAIN AND KUWAIT BSC | 4 |
| 19 | BANK OF BARODA | 9631 |
| 20 | BANK OF CEYLON | 2 |
| 21 | BANK OF INDIA | 7966 |
| 22 | BANK OF MAHARASHTRA | 2246 |
| 23 | BARCLAYS BANK | 2 |
| 24 | BASSEIN CATHOLIC COOPERATIVE BANK LIMITED | 66 |
| 25 | BHAGINI NIVEDITA SAHAKARI BANK LTD PUNE | 1 |
| 26 | BHARAT COOPERATIVE BANK MUMBAI LIMITED | 103 |
| 27 | BOMBAY MERCANTILE COOPERATIVE BANK LTD | 52 |
| 28 | CANARA BANK | 11292 |
| 29 | CAPITAL SMALL FINANCE BANK LIMITED | 171 |
| 30 | CENTRAL BANK OF INDIA | 4781 |
| 31 | CHHATTISGARH RAJYA GRAMIN BANK | 617 |
| 32 | CITI BANK | 36 |
| 33 | CITIZEN CREDIT COOPERATIVE BANK LIMITED | 48 |
| 34 | CITY UNION BANK LIMITED | 758 |
| 35 | COASTAL LOCAL AREA BANK LTD | 2 |
| 36 | CREDIT AGRICOLE CORPORATE AND INVESTMENT BANK CALYON BANK | 5 |
| 37 | CREDIT SUISEE AG | 1 |
| 38 | CSB BANK LIMITED | 750 |
| 39 | CTBC BANK CO LTD | 2 |
| 40 | Darussalam Co operative Urban Bank Ltd | 9 |
| 41 | DBS BANK INDIA LIMITED | 552 |
| 42 | DCB BANK LIMITED | 431 |
| 43 | DEOGIRI NAGARI SAHAKARI BANK LTD. AURANGABAD | 32 |
| 44 | DEPOSIT INSURANCE AND CREDIT GUARANTEE CORPORATION | 1 |
| 45 | DEUSTCHE BANK | 29 |
| 46 | DHANALAKSHMI BANK | 290 |
| 47 | DMK JAOLI BANK | 25 |
| 48 | DOHA BANK | 4 |
| 49 | DOMBIVLI NAGARI SAHAKARI BANK LIMITED | 71 |
| 50 | DURGAPUR STEEL PEOPLES CO-OPERATIVE BANK LTD | 6 |
| 51 | Emirates NBD Bank (P.J.S.C) | 3 |
| 52 | EQUITAS SMALL FINANCE BANK LIMITED | 860 |
| 53 | ESAF SMALL FINANCE BANK LIMITED | 644 |
| 54 | EXPORT IMPORT BANK OF INDIA | 1 |
| 55 | FEDERAL BANK | 1476 |
| 56 | FINCARE SMALL FINANCE BANK LTD | 1 |
| 57 | FINO PAYMENTS BANK | 91 |
| 58 | FIRST ABU DHABI BANK PJSC | 1 |
| 59 | FIRSTRAND BANK LIMITED | 1 |
| 60 | G P PARSIK BANK | 92 |
| 61 | GS Mahanagar Co-operative Bank Limited, Mumbai | 70 |
| 62 | HARYANA STATE COOPERATIVE BANK | 15 |
| 63 | HDFC BANK | 9169 |
| 64 | HIMACHAL PRADESH STATE COOPERATIVE BANK LTD | 219 |
| 65 | HSBC BANK | 30 |
| 66 | Hutatma Sahakari Bank Ltd | 18 |
| 67 | ICICI BANK LIMITED | 6308 |
| 68 | IDBI BANK | 3579 |
| 69 | IDFC First Bank Ltd | 776 |
| 70 | IDUKKI DISTRICT CO OPERATIVE BANK LTD | 54 |
| 71 | INDIA POST PAYMENT BANK | 3 |
| 72 | INDIAN BANK | 5797 |
| 73 | INDIAN OVERSEAS BANK | 3376 |
| 74 | INDUSIND BANK | 2010 |
| 75 | INDUSTRIAL AND COMMERCIAL BANK OF CHINA LIMITED | 1 |
| 76 | INDUSTRIAL BANK OF KOREA | 1 |
| 77 | Irinjalakuda Town Co-Operative Bank Ltd | 20 |
| 78 | JALGAON JANATA SAHAKARI BANK LIMITED | 41 |
| 79 | JAMMU AND KASHMIR BANK LIMITED | 1063 |
| 80 | JANA SMALL FINANCE BANK LTD | 607 |
| 81 | JANAKALYAN SAHAKARI BANK LIMITED | 26 |
| 82 | JANASEVA SAHAKARI BANK BORIVLI LIMITED | 14 |
| 83 | JANASEVA SAHAKARI BANK LIMITED | 31 |
| 84 | JANATA SAHAKARI BANK LIMITED | 73 |
| 85 | JANATHA SEVA COOPERATIVE BANK LTD | 6 |
| 86 | JIO PAYMENTS BANK LIMITED | 1 |
| 87 | JP MORGAN BANK | 4 |
| 88 | KALLAPPANNA AWADE ICHALKARANJI JANATA SAHAKARI BANK LIMITED | 45 |
| 89 | KALUPUR COMMERCIAL COOPERATIVE BANK | 69 |
| 90 | KARNATAKA BANK LIMITED | 933 |
| 91 | KARNATAKA GRAMIN BANK | 1171 |
| 92 | KARNATAKA VIKAS GRAMEENA BANK | 653 |
| 93 | KARUR VYSYA BANK | 914 |
| 94 | KEB Hana Bank | 2 |
| 95 | KERALA GRAMIN BANK | 648 |
| 96 | KOOKMIN BANK | 1 |
| 97 | KOTAK MAHINDRA BANK LIMITED | 1971 |
| 98 | KOZHIKODE DISTRICT COOPERATIAVE BANK LTD | 64 |
| 99 | Maharashtra Gramin Bank | 433 |
| 100 | MAHARASHTRA STATE COOPERATIVE BANK | 61 |
| 101 | Mahesh Sahakari Bank Ltd Pune | 16 |
| 102 | MASHREQBANK PSC | 1 |
| 103 | MIZUHO BANK LTD | 6 |
| 104 | MODEL COOPERATIVE BANK LTD | 26 |
| 105 | MUFG BANK, LTD | 5 |
| 106 | NAGPUR NAGARIK SAHAKARI BANK LIMITED | 45 |
| 107 | NATIONAL BANK FOR AGRICULTURE AND RURAL DEVELOPMENT | 1 |
| 108 | NAV JEEVAN CO OP BANK LTD | 9 |
| 109 | NEW INDIA COOPERATIVE BANK LIMITED | 30 |
| 110 | NKGSB COOPERATIVE BANK LIMITED | 113 |
| 111 | NORTH EAST SMALL FINANCE BANK LIMITED | 231 |
| 112 | NSDL Payments Bank Limited | 4 |
| 113 | NUTAN NAGARIK SAHAKARI BANK LIMITED | 24 |
| 114 | Pavana Sahakari Bank LTD | 22 |
| 115 | PAYTM PAYMENTS BANK LTD | 2 |
| 116 | PRIME COOPERATIVE BANK LIMITED | 41 |
| 117 | PT BANK MAYBANK INDONESIA TBK | 1 |
| 118 | PUNJAB AND SIND BANK | 1550 |
| 119 | PUNJAB NATIONAL BANK | 12562 |
| 120 | QATAR NATIONAL BANK SAQ | 1 |
| 121 | RABOBANK INTERNATIONAL | 1 |
| 122 | RAJARAMBAPU SAHAKARI BANK LIMITED | 46 |
| 123 | RAJARSHI SHAHU SAHAKARI BANK LTD PUNE | 16 |
| 124 | RAJASTHAN MARUDHARA GRAMIN BANK | 735 |
| 125 | RAJGURUNAGAR SAHAKARI BANK LIMITED | 18 |
| 126 | RAJKOT NAGRIK SAHAKARI BANK LIMITED | 1 |
| 127 | Rajnandgaon District Central Co-operative Bank Ltd | 46 |
| 128 | RBL Bank Limited | 545 |
| 129 | RESERVE BANK OF INDIA | 73 |
| 130 | SAMARTH SAHAKARI BANK LTD | 1 |
| 131 | SANT SOPANKAKA SAHAKARI BANK LTD | 2 |
| 132 | Saraspur Nagrik Co operative Bank Ltd Saraspur | 11 |
| 133 | SARASWAT COOPERATIVE BANK LIMITED | 439 |
| 134 | Satara Sahakari Bank Ltd | 19 |
| 135 | Saurashtra Gramin Bank | 265 |
| 136 | SBER BANK | 1 |
| 137 | SBM BANK INDIA LIMITED | 1 |
| 138 | SHIKSHAK SAHAKARI BANK LIMITED | 2 |
| 139 | SHINHAN BANK | 7 |
| 140 | Shivalik Small Finance Bank Limited | 34 |
| 141 | Shree Kadi Nagarik Sahakari Bank Limited | 18 |
| 142 | SHRI CHHATRAPATI RAJASHRI SHAHU URBAN COOPERATIVE BANK LIMITED | 47 |
| 143 | Shri Veershaiv Co Op Bank Ltd | 31 |
| 144 | SIR M VISVESVARAYA CO OPERATIVE BANK LTD | 11 |
| 145 | Smriti Nagrik Sahakari Bank Maryadit | 14 |
| 146 | SOCIETE GENERALE | 2 |
| 147 | SOLAPUR JANATA SAHAKARI BANK LIMITED | 42 |
| 148 | SOUTH INDIAN BANK | 967 |
| 149 | SREE CHARAN SOUHARDHA CO OPERATIVE BANK LTD | 10 |
| 150 | STANDARD CHARTERED BANK | 107 |
| 151 | STATE BANK OF INDIA | 28757 |
| 152 | Suco Souharda Sahakari Bank Ltd | 30 |
| 153 | SUMITOMO MITSUI BANKING CORPORATION | 3 |
| 154 | SURAT NATIONAL COOPERATIVE BANK LIMITED | 18 |
| 155 | SURYODAY SMALL FINANCE BANK LIMITED | 31 |
| 156 | SUTEX COOPERATIVE BANK LIMITED | 21 |
| 157 | TAMILNAD MERCANTILE BANK LIMITED | 531 |
| 158 | TELANGANA STATE COOP APEX BANK | 419 |
| 159 | TEXTILE TRADERS CO OPERATIVE BANK LTD | 5 |
| 160 | THE A.P. MAHESH COOPERATIVE URBAN BANK LIMITED | 45 |
| 161 | THE AHMEDNAGAR DISTRICT CENTRAL CO-OPERATIVE BANK LTD | 289 |
| 162 | The Ajara Urban Co op Bank Ltd Ajara | 33 |
| 163 | THE AKOLA DISTRICT CENTRAL COOPERATIVE BANK | 113 |
| 164 | The Akola Urban Cooperative Bank Limited | 34 |
| 165 | THE ANDHRA PRADESH STATE COOPERATIVE BANK LIMITED | 446 |
| 166 | The Banaskantha Mercantile Cooperative Bank Ltd | 6 |
| 167 | THE BANK OF NOVA SCOTIA | 2 |
| 168 | THE BARAMATI SAHAKARI BANK LTD | 37 |
| 169 | THE COSMOS CO OPERATIVE BANK LIMITED | 154 |
| 170 | THE DELHI STATE COOPERATIVE BANK LIMITED | 51 |
| 171 | THE GADCHIROLI DISTRICT CENTRAL COOPERATIVE BANK LIMITED | 1 |
| 172 | THE GREATER BOMBAY COOPERATIVE BANK LIMITED | 23 |
| 173 | THE GUJARAT STATE COOPERATIVE BANK LIMITED | 1581 |
| 174 | THE HASTI COOP BANK LTD | 21 |
| 175 | THE JALGAON PEOPELS COOPERATIVE BANK LIMITED | 41 |
| 176 | THE KALYAN JANATA SAHAKARI BANK LTD. | 48 |
| 177 | THE KANGRA CENTRAL COOPERATIVE BANK LIMITED | 218 |
| 178 | THE KANGRA COOPERATIVE BANK LIMITED | 12 |
| 179 | THE KARAD URBAN COOPERATIVE BANK LIMITED | 63 |
| 180 | THE KARANATAKA STATE COOPERATIVE APEX BANK LIMITED | 111 |
| 181 | The Kerala State Co Operative Bank Ltd | 769 |
| 182 | The Kolhapur Urban Co-op Bank Ltd | 20 |
| 183 | THE KURMANCHAL NAGAR SAHAKARI BANK LIMITED | 44 |
| 184 | The Malad Sahakari Bank Ltd | 6 |
| 185 | The Meghalaya Co-operative Apex Bank Ltd | 52 |
| 186 | THE MEHSANA URBAN COOPERATIVE BANK | 58 |
| 187 | THE MUMBAI DISTRICT CENTRAL COOPERATIVE BANK LIMITED | 74 |
| 188 | THE MUNICIPAL COOPERATIVE BANK LIMITED | 23 |
| 189 | The Muslim Co-operative Bank Ltd | 27 |
| 190 | THE NAINITAL BANK LIMITED | 167 |
| 191 | THE NASIK MERCHANTS COOPERATIVE BANK LIMITED | 80 |
| 192 | THE NAVNIRMAN CO-OPERATIVE BANK LIMITED | 14 |
| 193 | THE NAWANAGAR COOPERATIVE BANK LTD | 11 |
| 194 | THE NILAMBUR CO OPERATIVE URBAN BANK LTD NILAMBUR | 28 |
| 195 | THE ODISHA STATE COOPERATIVE BANK LTD | 31 |
| 196 | THE PANDHARPUR URBAN CO OP. BANK LTD. PANDHARPUR | 31 |
| 197 | THE PUNJAB STATE COOPERATIVE BANK LTD | 20 |
| 198 | The Pusad Urban Cooperative Bank Ltd Pusad | 38 |
| 199 | THE RAJASTHAN STATE COOPERATIVE BANK LIMITED | 498 |
| 200 | THE SATARA DISTRICT CENTRAL COOPERATIVE BANK LTD | 321 |
| 201 | THE SHAMRAO VITHAL COOPERATIVE BANK | 522 |
| 202 | THE SINDHUDURG DISTRICT CENTRAL COOP BANK LTD | 99 |
| 203 | THE SURAT DISTRICT COOPERATIVE BANK LIMITED | 113 |
| 204 | THE SURATH PEOPLES COOPERATIVE BANK LIMITED | 30 |
| 205 | THE TAMIL NADU STATE APEX COOPERATIVE BANK | 27 |
| 206 | THE THANE BHARAT SAHAKARI BANK LIMITED | 31 |
| 207 | THE THANE DISTRICT CENTRAL COOPERATIVE BANK LIMITED | 119 |
| 208 | THE UDAIPUR URBAN CO OPERATIVE BANK LTD | 14 |
| 209 | THE URBAN CO OPERATIVE BANK Ltd No ONE SEVEN FIVE EIGHT PERINTHALMANNA | 25 |
| 210 | THE VARACHHA COOPERATIVE BANK LIMITED | 27 |
| 211 | The Vijay Co Operative Bank Limited | 17 |
| 212 | THE VISHWESHWAR SAHAKARI BANK LIMITED | 29 |
| 213 | THE WEST BENGAL STATE COOPERATIVE BANK | 347 |
| 214 | THE ZOROASTRIAN COOPERATIVE BANK LIMITED | 20 |
| 215 | THRISSUR DISTRICT CO-OPERATIVE BANK LTD | 60 |
| 216 | TJSB SAHAKARI BANK LTD | 137 |
| 217 | TUMKUR GRAIN MERCHANTS COOPERATIVE BANK LIMITED | 32 |
| 218 | UCO BANK | 3187 |
| 219 | Ujjivan Small Finance Bank Limited | 612 |
| 220 | UNION BANK OF INDIA | 9675 |
| 221 | UNITED OVERSEAS BANK LIMITED | 1 |
| 222 | UTKARSH SMALL FINANCE BANK | 823 |
| 223 | UTTAR PRADESH COOPERATIVE BANK LTD | 92 |
| 224 | VASAI JANATA SAHAKARI BANK LTD | 14 |
| 225 | VASAI VIKAS SAHAKARI BANK LIMITED | 22 |
| 226 | WOORI BANK | 4 |
| 227 | YES BANK | 3290 |
| 228 | ZILA SAHAKRI BANK LIMITED GHAZIABAD | 35 |
| Grand Total | 165724 | |
Procedural Guidelines
| National Electronic Funds Transfer System - Procedural Guidelines | |
|---|---|
| Sl. |
Subject |
| 1 |
|
| 2 |
|
| 3 |
Definitions |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 4 |
|
| 5 |
Procedure for Participation |
|
|
|
|
|
|
|
|
|
|
|
|
| 6 |
Process Flow |
|
|
|
|
|
|
|
|
|
|
|
d) Transmission / Submission of NEFT Message to the NEFT Clearing Centre |
|
|
e) Processing and Transmission of NEFT Message to the Beneficiary Banks |
|
|
|
|
|
|
|
|
|
|
|
i) Acknowledgement / Positive Confirmation by the Beneficiary Bank and Return in Case of Non-Credit |
|
|
|
|
|
|
|
|
|
| 7 |
Inter-Bank Settlement |
|
|
|
|
|
|
|
|
|
| 8 |
Rights and Obligations |
|
|
a) General Rights and Obligations of the Sender / Originator, Participating Banks or Institutions |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 9 |
|
| 10 |
|
| Annexures |
|
| I |
|
| II |
|
| III |
|
| IV |
|
| NATIONAL ELECTRONIC FUNDS TRANSFER (NEFT) SYSTEM Reserve Bank of India has introduced an electronic funds transfer system called "National Electronic Funds Transfer” System (hereinafter referred to as "NEFT System" or "NEFT" or “System”, as appropriate). A set of procedures to be followed by various stakeholders to the system are detailed in this document. The objective of the NEFT System is to establish an electronic funds transfer system to facilitate an efficient, secure, economical, reliable and expeditious system of funds transfer and clearing in the banking sector throughout India, and to relieve the stress on the existing paper based funds transfer and clearing system. In these Procedural Guidelines, unless the context otherwise requires : (a) "Acceptance" means execution of payment instruction. (b) "Bank" means a banking company as defined in Section 5 of the Banking Regulation Act, 1949, and includes the State Bank of India, constituted by the State Bank of India Act, 1955, a subsidiary bank constituted under the State Bank of India (Subsidiary Banks) Act, 1959, a corresponding new bank under Section 3 of the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970 and a corresponding new bank constituted under the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1980, a co-operative bank, as defined in Section 56 of Part V of the Banking Regulation Act, 1949 (AACS) and such other banks as may be specified from time to time. (c) "Beneficiary" means the person designated as such, and to whose account payment is directed to be made in a payment instruction. (d) "Beneficiary / Destination Bank / Branch" means the branch of the bank / branch identified in a payment instruction which is maintaining the account of the beneficiary. (e) "NEFT Clearing Centre" means any office designated by the Nodal Department for receiving, processing and sending the NEFT SFMS message and the debiting and crediting of accounts of the participating banks and institutions for settlement of payment obligations or one or more of these functions. The National Clearing Cell, Reserve Bank of India, Nariman Point, Mumbai has been designated as the NEFT Clearing Centre (NCC) for purposes of the NEFT System. (f) "NEFT SFMS message" means an electronic Structured Financial Messaging Solution (SFMS) message containing a batch of NEFT payment instructions for funds transfer, processed and consolidated in the manner specified for transmission of payment instructions from NEFT Service Centre to the NEFT Clearing Centre. (g) "NEFT Service Centre" means an office or branch of a bank in a centre designated by that bank to be responsible for processing, sending or receiving NEFT SFMS message on behalf of that bank in that Centre and to do all other functions entrusted to a NEFT Service Centre by or under these guidelines. NEFT Service Centre is referred to as "Sending NEFT Service Centre" when it originates an NEFT SFMS message for funds transfer. NEFT Service Centre is referred to as "Receiving NEFT Service Centre" when it receives a NEFT SFMS message from the NEFT Clearing Centre. (h) "NEFT System" means the National Electronic Funds Transfer System established by these guidelines for carrying out inter-bank funds transfers within India (and from India to Nepal), and providing for settlement of payment obligations arising out of such funds transfers, among the participating banks. (i) "Execution" of a payment instruction in relation to a sending bank means the transmission or sending of the payment instruction by it to the NEFT Service Centre; in relation to a Service Centre it means transmission of the consolidated payment instruction in the encrypted NEFT SFMS message to the NEFT Clearing Centre. (j) "Funds Transfer" means the series of transactions beginning with the issue of originator's payment instruction to the sending bank and completed by acceptance of payment instruction by the beneficiary's bank for the purpose of making payment to the beneficiary of the instruction. (k) "Nodal Department" means the Department of Payment and Settlement Systems of Reserve Bank of India, NEFT Clearing Centre and the Mumbai Regional Office of the Reserve Bank of India which are responsible for implementation, administration and supervision of the NEFT System. (l) "Notified" means communicated electronically or in writing. (m) "Originator / Sender" means the person who issues a payment instruction to the sending bank. (n) "Participating Bank” means a bank admitted for participating in the NEFT System pursuant to Paragraph 3.1 of these Guidelines and whose Letter of Admission has not been cancelled. (o) "Payment Instruction" means an unconditional instruction issued by an originator in writing or transmitted electronically to a sending bank to effect a funds transfer for a certain sum of money expressed in Indian Rupees, to the designated account of a designated beneficiary by debiting correspondingly an account of the originator or through remittance of cash. (p) "Public Sector Bank" means State Bank of India, constituted by the State Bank of India Act, 1955, subsidiary banks constituted under the State Bank of India (Subsidiary Banks) Act, 1959, the banks constituted under Section 3 of the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970 and the banks constituted under Section 3 of the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1980. IDBI Bank has since been classified as a Public Sector Bank. (q) "Reserve Bank of India" means the Reserve Bank of India or RBI established under the Reserve Bank of India Act, 1934 (2 of 1934). (r) "Security Procedure" means the set of procedural guidelines at Paragraphs under the Sections of these Guidelines for the purpose of :
(s) "Sending / Originating Bank" means the branch of a bank, which receives payment instruction from its customer or any other person for transfer of funds to the account with another bank participating in NEFT. When the originator is a participating institution, reference to sending bank shall be construed as referring to the NEFT Service Centre. (t) "Settlement Account" means an account maintained by a participating bank or institution for the purpose of settlement of payment obligations under the NEFT System. (u) "Valid Reasons of Non-payment" are the reasons due to which the beneficiary bank fails to or cannot make payment to the beneficiary. Some illustrative reasons are :
(v) "SFMS Message" means an electronic Structured Financial Messaging Solution (SFMS) message containing a batch of payment instructions for funds transfer, processed and consolidated in the manner specified for transmission of payment instructions and communication related thereto. (w) "Credit" means credit received by the NEFT member through the NEFT System, which has to be ultimately credited to the account of the beneficiary customer at the concerned branch of the beneficiary bank, after due verification thereof. (x) "IFSC" means Indian Financial System Code used to identify a participating bank branch in the NEFT SFMS message. These procedural guidelines shall apply to all NEFT-enabled participating banks / and branches in the system as notified by Reserve Bank of India from time to time on its official website at the link http://www.rbi.org.in/Scripts/neft.aspx. 5. Procedure for Participation (i) Admission : To be eligible to apply for admission as a participating bank, an applicant –
Provided that, all or any of the above conditions may be relaxed or dispensed with, if so decided by the Reserve Bank of India. List of participant banks and bank-branches will be displayed on website of Reserve Bank of India under the link http://www.rbi.org.in/Scripts/neft.aspx. Any bank or institution desirous of participating in the NEFT System as a participating bank may submit to the Regional Director, Reserve Bank of India, Mumbai Regional Office, Shahid Bhagat Singh Marg, Fort, Mumbai – 400 001, duly authenticated application, containing full particulars in the form specified at Annexure I (Form : NEFT-IA). Every application shall be accompanied by an undertaking in the specified form to abide by the Procedural Guidelines in the event of admission. Letter of Admission as specified in Annexure II (Form : NEFT-IB) to every bank admitted to the NEFT System will be issued by Reserve Bank of India.
(iii) Withdrawal from Participation :
(iv) Cancellation of Letter of Admission : Letter of admission issued to a bank may be cancelled by the Reserve Bank on it being satisfied that such bank has –
No order of cancellation shall be passed without first giving an opportunity of hearing to the bank concerned. Every order of cancellation shall be notified to the respective bank and also to all other participating banks in the NEFT System. Notwithstanding the order of cancellation of Letter of Admission passed against it, such bank shall discharge all its payment obligations arising out of the funds transfers effected in the NEFT System. The parties to a funds transfer under this NEFT System are the sending bank, the sending Service Centre, the NEFT Clearing Centre, the receiving Service Centre and the beneficiary branch. (i) Request for NEFT by a Bank Customer / Any Person
(ii) Data Entry at the Sending Bank Branch The sending bank branch shall prepare the SFMS message as and when the applications for funds transfer is received and arrange to send the message to NEFT Service Centre till the cut off time for the batch. (iii) Processing / Data Upload at Sending NEFT Service Centre The sending NEFT Service Centre shall accept the messages received from branches / customers through net banking platform if these are complete / in order and received within cut-off time or reject the same if the messages are incomplete / not confirming to the parameters specified. (iv) Transmission / Submission of NEFT Message to the NEFT Clearing Centre The sending Service Centre shall transmit the NEFT SFMS message to the NEFT Clearing Centre by using the communication network designated by Reserve Bank of India. (v) Processing and Transmission of NEFT Message to the Beneficiary Banks After consolidating all NEFT messages received from originating banks, the NEFT Clearing Centre shall process the data, arrive at fund settlement, send the fund file to Deposit Accounts Department (DAD), RBI for settlement and after settlement is over, send beneficiaries' details / data to each beneficiary bank for affording credit to the beneficiaries' accounts. Banks which have no transactions will get a batch wise 'nil' transactions report and a summary report at the end of the day indicating all inward transactions received by them during the day. NEFT messages generated for destination banks will be transmitted to the NEFT Service Centre of each beneficiary bank using SFMS. (vi) Data Validation at the Receiving NEFT Service Centre On receipt of the NEFT message, the receiving NEFT Service Centre shall process these files and forward them to the beneficiary branches using SFMS. Alternatively, the receiving NEFT Service Centre may use the Straight Through Processing (STP) interface available in SFMS and upload these NEFT messages to their internal banking solution directly, to afford the credits to the beneficiary accounts centrally. The beneficiary branches would make payment to the beneficiaries within two hours of batch settlement time by crediting the specified account of the beneficiary or otherwise placing funds at the disposal of the beneficiary. (viii) Revocation of Payment Instruction A payment instruction issued for execution shall become irrevocable when it is executed by the sending bank. Any revocation, after the payment instruction is executed by the sending bank shall not be binding on any other party in the NEFT system. (ix) Acknowledgement / Positive Confirmation by the Beneficiary Bank and Return in Case of Non-Credit NEFT presently functions with a Batch+2 (B+2) return cycle. The B+2 return discipline would require banks to afford credit to the beneficiaries' account immediately upon completion of a batch else return the transactions within two hours of completion of the batch settlement, if it is not possible to afford credits to the beneficiaries, for any reason. Therefore, an inward credit message which is not returned within two hours from the time at which the payment instructions are processed at NEFT Centre (B+2) is treated to have been completed and credit afforded to the beneficiary's account by the beneficiary branch. It is, therefore, vital that uneffected credits are re-transmitted back as return NEFT transactions in the immediate next batch itself. In addition to this, in order to facilitate the originator of NEFT to receive a confirmation of credit being afforded to Beneficiary's account, the originator may indicate his / her mobile number or email-id in his / her NEFT application while initiating the transaction. After successfully crediting the Beneficiary's account, the beneficiary bank will send a Credit Acknowledgement message indicating “credited to customers' account” to the originating bank through NEFT Service Centre. The originating banks after receiving the positive confirmation message from the beneficiary bank, shall initiate a mobile SMS or generate an e-mail to the originator to convey the fate of the transaction. (x) Sender to be Advised in Case of Returns If the beneficiary specified in the sender's payment instruction fails to get payment through the NEFT system for some valid reasons, the sender shall be informed immediately after the sending bank gets the returned NEFT. The sending bank shall also arrange to make payment to the sender by crediting the account of the sender or otherwise placing funds at the disposal of the sender. The originating bank shall provide the description “NEFT-Return” in the pass book / account statement of the originator whose NEFT transaction is returned. In case of returns pertaining to the outward transactions initiated by a non-customer, the initiator to be advised immediately by referring to the contact details provided, earlier, and funds to be kept at his / her disposal. (xi) Beneficiary to be Advised of the Receipt of Funds After crediting the account of the beneficiary, the beneficiary bank shall advise the beneficiary of the funds received. The Account Statement / Pass Book entry or any online messaging system shall indicate briefly the source of funds as well. For this purpose, the mandatory field 6091 which contains the remitter's name shall be picked up for the source of credit and information contained shall be printed in the Account Statement / Pass Book. Banks originating transactions shall ensure proper and meaningful details are provided in this field. Description of field 6091 is M 6091 Sending customer a/c name 50x Sender's account name NEFT will function on all the RTGS working days and the banks participating in NEFT are required to participate on all such working days. The list of holidays for RTGS / NEFT is available in the website of RBI at http://www.rbi.org.in/scripts/HolidayMatrixDisplay.aspx. (i) Inter-bank Funds Settlement at Reserve Bank : Every participating bank and admitted institution shall open and maintain in the NEFT Clearing Centre, Mumbai, a settlement account for settlement of payment obligations arising under the funds transfer executed under the NEFT system. (ii) Finality of Settlement : The settlement so arrived by through multilateral netting shall be final and irrevocable, in terms of section 23 of the “Payment and Settlement Systems Act, 2007” as soon as the same is determined in terms of the procedures notified by RBI. (iii) Settlement and Default Handling Procedure : Aspects relating to finality of settlement and default handling in the event of failure-to-settle situations will be in accordance with the Directive on Settlement and Default Handling Procedures issued by RBI and as duly amended from time to time. The continued eligibility of a bank to participate shall be reviewed in case of permanent default by a member bank. Default will be considered permanent if the process of recalculation provided as part of the default handling procedure is necessitated in respect of a participant bank on more than three occasions in a calendar month. The number of occasions shall be calculated separately for each multilateral and deferred net settlement system. (i) General Rights and Obligations of Sender / Originator, Participating Banks or Institutions Every participating bank or institution shall maintain the security, integrity and efficiency of the System. (ii) Rights and Obligations of the Sender / Originator (a) Funds transfer instruction shall be issued by the sender / originator in a manner prescribed by the participant bank. (b) The format shall be complete and contain all requisite particulars. The sender or the originator shall be responsible for the accuracy of the particulars given in the payment instructions and special care should be taken for account number of the beneficiary, etc. (c) The sender / originator shall be bound by any payment instruction executed by the bank if the bank had executed the payment instruction in good faith and in compliance with the security procedure, provided that the sender / originator shall not be bound by any payment instruction executed by the bank, if he proves that the same was not issued by him and that it was caused either by negligence or a fraudulent act of any employee of the bank. (d) The sender / originator shall ensure availability of funds in his / her account or remit cash while issuing the payment instruction to his / her bank. (e) The payment instruction shall become irrevocable once it is executed by the bank. The bank is not bound by any notice of revocation unless it is not in compliance with the security procedure. (f) In the event of any delay or loss on account of error, negligence or fraud on the part of an employee of the beneficiary bank in the completion of funds transfer pursuant to receipt of payment instruction by the beneficiary bank leading to delayed payment to the beneficiary, the beneficiary bank shall pay compensation (at current RBI LAF Repo Rate plus two percent) for the period of delay. In the event of delay in return of funds transfer instruction for any reason whatsoever, the beneficiary bank shall refund the amount together with interest (at current RBI LAF Repo Rate plus two percent) till the date of refund. (g) During the NEFT operating hours, originating banks shall endeavour to put through the request for NEFT transactions received by them, either online or across the counters, preferably in the next available batch, but, in any case, not exceeding two hours from the time of receipt of requests. In the likelihood of any delay / possible delay in adhering to this requirement, the sender / originator shall be informed of the delay / possible delay and the reasons for the same. (h) Customers can complain to the Banking Ombudsman if the complaint is not resolved to his / her satisfaction within thirty days. (iii) Rights and Obligations of Sending Bank
(iv) Obligations of the Sending NEFT Service Centre
(v) Obligations of NEFT Clearing Centre The NEFT Clearing Centre shall comply with the time schedule, process and sort the SFMS messages bank-wise and after debiting / crediting the settlement accounts with the corresponding value, transmit the NEFT SFMS messages to the respective receiving NEFT Service Centres. The NEFT Clearing Centre shall generate, dispatch and maintain records of transactions. The Clearing Centre shall maintain record of all payment instructions processed by it for a period of ten years in terms of guidelines issued by RBI under the Payment and Settlement Systems Act on preservation of information / data / record pertaining to payment system applications. (vi) Obligations of the Receiving NEFT Service Centre
(vii) Rights and Obligation of Beneficiary Bank
The service charges to be levied by the originating banks would be in terms of the instructions issued from time to time under the framework of charges to be levied by the banks for offering various electronic products There are no processing charges levied by the NEFT Clearing Centre up to March 31, 2011. The same would be reviewed periodically. The RBI may, if it so desires in future, decide to levy any other charge / fee as also the quantum thereof. Beneficiary Banks would not claim service charge for passing on the credit to the beneficiaries. 10. Dispute Resolution Mechanism The mechanism for resolution of disputes will be in accordance with the Directive on Dispute Resolution Mechanism issued by RBI and as duly amended from time to time. 11. Amendment to Procedural Guidelines The Procedural Guidelines can be amended only by RBI. RBI may also, by issuance of a circular, amend the procedure. Form NEFT-1A Ref. No.... . . . . . .. .. .. . Date The Regional Director Madam / Dear Sir, Application for participation in NEFT System Our bank requests Reserve Bank of India's approval for participation in the NEFT System and agrees to abide by the Procedural Guidelines for the NEFT System. Our bank satisfies the eligibility criteria devised in paragraph 5 (i) and Annexure IV of the NEFT Procedural Guidelines and documentary evidence in support of that are attached herewith for your perusal. In the event of being admitted to the System, we would comply with the technical and operational requirements of the NEFT System and would meet the settlement obligations from our account/s maintained with Reserve Bank of India. (.........................................................................) Place : Enclosures : As stated above No. of Core Banking-enabled branches that can participate in NEFT : Form NEFT-1B Reserve Bank of India NEFT System – Letter of Admission Reference No. Date : To ................................... Madam / Dear Sir, Please refer to your application no…………………..dated .........................for participation in the NEFT System. It is advised that your bank has been admitted for participation in the NEFT system with effect from . . . . . . . You are required to comply with the technical and operational requirements as indicated in the Procedural Guidelines for NEFT System and confirm your readiness latest by ……….. . . (.........................................................................) |
|
 |
| Form NEFT-2A Conditions for transfer of funds through NEFT 1. I / We have checked the funds transfer instructions / particulars given in the application and I / We shall be liable to compensate the Bank for any loss arising on account of any error in payment order / amendment / cancellation thereto. 2. I / We understand that the messages given after cut-off time will be sent only on the next batch / working day. 3. The transfer is effected for legitimate personal / business needs. 4. I / We shall ensure availability of funds properly applicable to the payment order before execution of the payment order by the bank and understand that if the bank executes the transfer order without properly applicable funds being available in my account, I / We shall be bound to pay to the bank the amount debited to my account together with charges including interest payable to the bank provided the transfer was effected as per my order. 5. I / We understand that in case the payee branch does not have NEFT facility, the funds will be credited back to my / our account as and when it is returned by the beneficiary bank. 6. I / We agree that in the event of any delay in the completion of the funds transfer or any loss on account of error in the execution of the funds transfer pursuant to my / our payment order, the bank's liability shall be limited to the extent of the amount involved in the funds transfer plus interest (at the RBI LAF Repo rate plus two percent) for any period of delay. 7. I / We also agree to abide with all the other terms and conditions contained in the model agreements / application forms or other terms / rules / regulations governing NEFT transactions as enumerated by RBI. (Signature of the Applicant) Date : |
| Eligibility Criteria for Participation in NEFT System |
||
| Sl. No. |
Category of banks |
Access to NEFT |
| 1. |
Scheduled Commercial Banks (excluding Regional Rural Banks and Local Area Banks) |
Type A Membership of RTGS subject to • CRAR 9% • Net NPAs less than 10% • No default in maintenance of CRR and SLR during the past one year • Net profit in at least one of the preceding two years; and • Minimum net - worth of ` 50 crore |
| 2. |
State Co-operative Banks |
Type A Membership of RTGS subject to • No default in maintenance of CRR and SLR during the past one year; and • Minimum net -worth of `. 50 crore |
| 3. |
District Central Co-operative Banks |
Type A Membership of RTGS subject to • No default in maintenance of CRR and SLR during the past one year; and • Minimum net - worth of ` . 50 crore |
| 4. |
Regional Rural Banks |
Type A Membership of RTGS subject to • No default in maintenance of CRR and SLR during the past one year; and • Minimum net - worth of ` . 50 crore |
| 5. |
Local Area Banks |
Type A Membership of RTGS subject to • CRAR 9% • Net NPAs less than 10% • No default in maintenance of CRR and SLR during the past one year • Net profit in at least one of the preceding two years; and • Minimum net - worth of ` . 50 crore |
| 6. |
Scheduled Urban Co-operative Banks |
Type A Membership of RTGS subject to • CRAR 9% • Net NPAs less than 10% • No default in maintenance of CRR and SLR during the past one year • Net profit in at least one of the preceding two years; and • Minimum net - worth of ` . 50 crore |
| 7. |
Non-Scheduled Urban Cooperative Banks |
Type A Membership of RTGS subject to • CRAR 9% • Net NPAs less than 10% • No default in maintenance of CRR and SLR during the past one year • Net profit in at least one of the preceding two years; and • Minimum net - worth of ` . 50 crore |
| 8. |
Banks in category 1, and 3-7 not complying with the requirements |
No access |
| 9. |
Unlicensed banks (other than unlicensed State Co-operative Banks and District Central Co-operative Banks) |
No access |
ਭਾਰਤੀ ਰਿਜ਼ਰਵ ਬੈਂਕ ਮੋਬਾਈਲ ਐਪਲੀਕੇਸ਼ਨ ਇੰਸਟਾਲ ਕਰੋ ਅਤੇ ਨਵੀਨਤਮ ਖਬਰਾਂ ਤੱਕ ਤੇਜ਼ ਐਕਸੈਸ ਪ੍ਰਾਪਤ ਕਰੋ!
ਸਾਡੀ ਐਪ ਇੰਸਟਾਲ ਕਰਨ ਲਈ QR ਕੋਡ ਸਕੈਨ ਕਰੋ।
ਪੇਜ ਅੰਤਿਮ ਅੱਪਡੇਟ ਦੀ ਤਾਰੀਖ:
