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Friday, February 26, 2010

RFP-Application Form/Security amount to be routed through NEFT/RTGS




RFP-Application Form/Security amount to be routed through NEFT/RTGS

I believe that for any project/idea to succeed, the change should start from within (Organization or Individual).

Implementing a new idea by the Organization itself, and than marketing it to outsider’s aids in fine tuning the marketing strategies at the same time, it is easier for front-line employees to convince the customers about the benefits f the new idea.

Towards this end, I have been advocating the usage of NEFT channel for Bank related transactions for Payments by them as well as receipts to them by the Banks.

This will spread the concept of NEFT amongst the Bank Staff as well as the customers both existing and potential.

Today I Keyed in the work RFP+Banks in Google


RFP means Request for Proposal. Banks float RFP for various purposes.

Apart from the technical information in the RFP, there are two important components
01)                      The cost of the RFP Application.
02)                     Bid Security

I have noticed that all the Banks without exception, require the above payments in Demand Draft/Pay Order form only.

Bank Guarantees are accepted as Bid Security.

Wouldn’t it be nice if Banks instead of requesting for Demand Draft/Pay Order, state that the requisite amounts be routed through RTGS/NEFT.

This will boost the knowledge amongst the Bank staff as well as show to the RFP Bidders that Banks trust their own products.
This will have a multiplier effect.

Just waiting which Bank will be first one in this arena





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