Bank of Baroda - IMPS bandwagon
Bank of Baroda is the latest Bank to be part of the IMPS bandwagon.
Bank of Baroda, is the 30th Bank to join the IMPS
Bank of Baroda has joined the Interbank Mobile Payment Service (IMPS) enabling their customers to transfer funds to the customers of 29 other banks who are already providing this service.
The tag line of Bank of Baroda is ‘Bank of Baroda - India's International Bank’
Bank of Baroda, has a history of 100+ years behind it, and its founder was Maharaja Sayajirao Gaekwad,
One interesting titbit, which the BOB’s website, mentions is ‘The Roll of Honor’. This Roll of Honor mentions amongst others, Maharaja Sayajirao Gaekwad, Sampatrao Gaekwad, Ralph Whitenack, Vithaldas Thakersey, Tulsidas Kilachand and NM Chokshi.
Bank of Baroda, was nationalised in the first bank nationalisation, i.e on 19 July 1969, by the government of India, along with 13 other major banks.
Bank of Baroda, over the years, acquired Banks, rescued Banks. A list of such acquisitions are
Hind Bank.,New Citizen Bank of India, Surat Banking Corporation, Umbergaon People’s Bank, Tamil Nadu Central Bank, The Bank of India’s operations in Uganda,Traders Bank, which had a branch network in Delhi, Punjab Cooperative Bank in a rescue, Benares State Bank (BSB) at the Reserve Bank of India’s request.
For IMPS transactions, NPCI provides the central switching, clearing and settlement service.
The following are banks which have enabled IMPS service to thier customers
(16 public sector banks, 12 private banks, one foreign bank and one co-op bank):-
Axis Bank , Bank of India, HDFC Bank, ICICI Bank, State Bank of India, Union Bank of India, Lakshmi Vilas Bank, Kotak Mahindra Bank, Federal Bank, Indian Overseas Bank , IDBI Bank, YES Bank, Indian Bank, Dombivli Nagari Sahakari Bank, Corporation Bank, Oriental Bank of Commerce , Development Credit Bank, Canara Bank, Syndicate Bank, Karur Vysya Bank , Punjab National Bank , Citibank, South Indian Bank, UCO Bank, Vijaya Bank, Andhra Bank, IndusInd Bank, Catholic Syrian Bank, State Bank of Bikaner & Jaipur, Bank of Baroda are the banks which are on IMPS grid as on 11/11/2011.
Out of the above, 5 Banks i.e. Catholic Syrian Bank , IDBI Bank, Indian Overseas Bank, South Indian Bank, and Andhra Bank are in Soft Launch. Well, the internal systems, must have not yet stabilised.
