NEFT Volumes January 09 to October 09

NEFT Volumes January 09 to October 09

Today’s post is regarding the NEFT  Volumes from Jan 09 to Oct 09.

Source-Reserve Bank of India website.

01) There has been a steady growth; through the growth was spectacular, in June and October Months.

02)                       June Month it could be due to the Dividend Distribution by companies.

03)                       October Month, not sure.

04)                       It would be nice if Reserve Bank of India, publishes the Number of Cash Transactions-Type 50 and also NEFT Credits to Credit Cards-Type 52.

Such data, might be useful, to increase the overall transactions.

NEFT Volumes Jan 09 to Oct 09
Month	No of Transactions	Increase over previous month	% Increase over previous month
Jan-09	3,198,764
Feb-09	3,300,290	101,526	3
Mar-09	4,030,747	730,457	22
Apr-09	3,920,380	-110,367	-3
May-09	3,601,280	-319,100	-8
Jun-09	4,480,887	879,607	24
Jul-09	5,068,311	587,424	13
Aug-09	5,198,659	130,348	3
Sep-09	4,928,763	-269,896	-5
Oct-09	5,924,831	996,068	20

RTGS Transactions All India January 2009 to October 2009

RTGS Transactions All India January 2009 to October 2009

Today’s Post is regarding the growth of RTGS Transactions in our Country.

The below Table shows the growth in the last 9 months.

Major Highlights:

01)  There was a fall in the transactions in April 09, as compared to March 09. This is due to the normal business cycle.

02)  The highest % of growth is observed in October 2009.

RTGS Transactions Jan 09 to Oct 09-All India
Month	No of Transactions	Increase over previous month	% Increase over previous month
Jan-09	1436951
Feb-09	1498555	61604	4
Mar-09	1941215	442660	30
Apr-09	1813195	-128020	-7
May-09	1978787	165592	9
Jun-09	2230310	251523	13
Jul-09	2346972	116662	5
Aug-09	2322862	-24110	-1
Sep-09	2433615	110753	5
Oct-09	2925034	491419	20

Debit Card Volumes @ POS Terminals

Debit Card Volumes @ POS Terminals

Today’s Post is an occasional view on the growth of Debit Card Volumes @ POS Terminals.

It can be observed that there is a steady growth in the transactions.

As compared to the corresponding period in 2008, there has been a 27% jump in the volumes.

However, the full potential of the Debit Cards has not reached in India.

As I keep mentioning, a concerted marketing effort by all the stakeholders, will do wonders.

Debit Card-Better than Paper Money  

NEFT August 2009 Volumes

NEFT August 2009 Volumes

RTGS July 2009 Customer Outward Volumes

Today's Post is regarding RTGS July 2009 Customer Outward Volumes

01) The total volume increased by 113283 transactions and the % growth is 5.96%

The Top 10 Banks contributed 58% of the total transactions. All other banks contributed the remaining 42%

As usual State Bank of India, is the leader of the pack

Let  the volumes rise in August 2009

RTGS JUne 2009 Customer Outward

Today's post is regarding RTGS June 2009 Customer Outward transactions. 

A Comparative volume between May 2009 and June 2009, is enclosed herewith.

NIL outwards that the respective Banks/Financial Institutions had only Inwards.

The list of the Top 10 Ten Banks are as under

It is interesting to note that the Top 10 Banks, accounted for more than 57% of the overall transactions.

Punjab National Bank, seems to be doing well.

State Bank of India, is the dominant player with 14.28% of the transactions.

It will be interesting to see the Statistics for July 2009

Let the ePayments increase every month

RTGS Volumes January 09 to June 2009.

RTGS Volumes January  09 to June 2009.
Today’s post is regarding the Customer Volumes in RTGS from January 2009 to June 2009. 

 

The data is only Customer Transactions only, as for the layman only customer transactions are important, and not inter-bank transactions.

A basic analysis of the data leads to some interesting observations 

01)The volumes are increasing rapidly. 

 02)As the financial year, closes in Mar, there were heavy transactions in Mar 09.
03)The decrease in April 09, was compensated in May 09.
04)As compared to Feb 09 transactions, the Mar 09 transactions improved by 30%
05)No of transactions in June 09, as compared to Jan 09, increased by 20%.

The increase in the transactions is a positive indicator for ePayments in our country.
However, these transactions are only a fraction of the payments pie, and ePayments, have a long way to go.

Small steps lead to the GOAL

Two-Tier Authorization for ePayments-RTGS

             Two-Tier Authorization for ePayments-RTGS

            It is the norm of civilization, that all key actions, should follow the Maker-Checker Concept. 

Maker-checker (or Maker and Checker, or 4-Eyes) is one of the central principles of authorization in the Information Systems of financial organizations.

The principle of maker and checker means that for each transaction, there must be at least two individuals necessary for its completion. While one individual may create a transaction, the other individual should be involved in confirmation or authorization of the same. Here the segregation of duties plays an important role. This minimizes the risk, to the individuals, as well as to the Organizations at large.      However, it is observed that the Maker-Checker Concept, is not followed in the true sense. This leads to mishaps all around.

             The scenario in ePayments is also no different. A good number of times, it is observed that in the System, the Maker-Checker concept is followed, but in reality, the maker and checker is the same physical person!

             The strengthening of the Maker-Checker Concept in ePayments, will go a long way, in reinforcing the common man’s belief in ePayments.

             Reserve Bank of India, vide its Notification RBI/2008-09/437, DPSS (CO) RTGS No.1839 / 04.04.002 / 2008 – 2009, dated April 20, 2009, advised all Banks to toughen the Security Environment. Accordingly, it has been made mandatory for the members to put in place maker-checker facility during data entry.

 Further, it has also advised that the IT Security should be foolproof and the internal control systems strong enough to counter frauds / attempted frauds in the RTGS system.

             The full notification, can be accessed at http://www.rbi.org.in/scripts/NotificationUser.aspx?Mode=0&Id=4937.

             Reserve Bank of India, vide its above Notification, has assured the common man, that IT Security/User Security, for ePayments, is maintained at the highest possible standards, by Indian Banks.

 

 

 

             

NEFT Outward Data-Bank Wise-Comparison December 2008 and January 2009

NEFT Outward Data-Bank Wise-Comparison December 2008 and January  2009

 

RBI has updated on its website, the January 2009 RTGS/NEFT/ECS Volumes. Today’s Post is regarding a plain assessment between the overall NEFT Volumes December 2008 and Volumes January 2009.

 

December 2008		January 2009		Growth January 2009
Amount (Crs)	Number	Amount (Crs)	Number	No of transactions (%)
19,145.03	31,73,362	18,691.00	31,98,764	1

 

 

 

Key Performance Indicators
Top 2 Bank-Number Wise December 2008	ICICI bank, HDFC Bank
Top 2 Bank-Number Wise January 2009	ICICI bank, HDFC Bank
No of Banks Participated in December 2008	89
No of Banks Participated in January 2009	89
New Banks entered into NEFT Arena	NIL
Banks Left NEFT Arena	NIL
Complete Link for January 2009 Data	Is given below

 

Please click on http://rbidocs.rbi.org.in/rdocs/ECB/docs/NEFTRTGECS.xls

 

 

NEFT Outward Data-Bank Wise-Comparison Nov2008 and Dec 2008

Reserve Bank of India, every month, publishes on its Website, Data on RTGS/NEFT/ECS. Keeping the Data, as a Base, I will be post the Highlights.

 Today's turn is of NEFT.

 

NEFT Outward Data-Bank Wise-Comparison Nov2008 and Dec 2008
November 2008		December 2008
Number	Value (Rs.In Crs)	Number	Value(Rs.In Crs)
26,95,771	15,704.98	31,73,362	19,145.03
No of Banks	90	No of Banks	89

 

 Significant Developments in NEFT Participants in December 2008.

      1.    17% Growth in Volumes vis-à-vis November, 2008 figures

2.    No Outward Transactions by American Express Bank.

3.    No Outward by Parsik Janata Sahakari Bank.

4.    State Bank of Saurashtra fully merged with State Bank of India. State Bank of Saurashtra’s IFSC’s disabled by Reserve Bank of India.

5.      TamilNadu State Apex Co-operative Bank, a new Entrant.