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Sunday, October 18, 2009

Nature’s Fury-Karnataka and Andhra Pradesh



Nature’s Fury-Karnataka and Andhra Pradesh


In the last one month, floods have hit many parts of Karnataka and Andhra Pradesh, leading to wide-scale destruction.


Media Houses, NGO’s, Government of Andhra Pradesh and Karnataka, have appealed to the public to donate in cheques/demand drafts or in kind, to aid the relief efforts. And, as usual, the public have responded overwhelmingly.


It is observed that the majority have requested the public to donate through Cheque/Demand Draft.
Government of Andhra Pradesh has also provided a Payment Gateway, for donations through Credit Cards and also provided details for Wire Transfer’s from abroad.


However, no organization has thought of the POS Terminals as a Donation Tool.
http://prashantnepayments.blogspot.com/2009/09/pos-terminals-aid-to-impulse-donations.html

Few Organizations, have had the fore-thought to provide IFSC Details for donations through NEFT.
Eg:- Eenaudu Relief Fund.
Kudos to the Eenadu Team-Members, for this brilliant idea.

As can be seen, only 4 fields are required for a successfully NEFT Transaction
01) Beneficiary Name
02) Beneficiary Account Number
03) Beneficiary Bank Branch Name
04) IFSC of Beneficiary Bank Branch Name


Nothing more, nothing less.




Donations through NEFT are safe, and very cost-effective as compared to donations through Payment Gateway or Cheques.

Cheques have to be sent for collection and the reconcialtion time from collection to realizations is 4-7 working days. And, the burden on the Banking System, in collection on Cheques is also high as compared to NEFT Transactions.

Reconcialtion time for NEFT Transactions is comparatively less, as the NEFT Transaction Voucher contains the requisite information.

And the best part is that the courier charges/postal charges in mailing the Cheque/Demand Draft, is NIL for NEFT Transactions.
Moreover, this is also an opportunity for the donors/public to become aware of the ePayments, and their immense possibilities.


Donor Agencies- Connect to NEFT for ease of processing

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