30 September 2011, RTGS/NEFT Closed. IMPS open

30 September 2011, RTGS/NEFT Closed. 

IMPS open 30 September 2011

Tit-Bits— Report on Trend and Progress of Banking in India – Absorbing information about the potential of ePayments in India.

Tit-Bits— Report on Trend and Progress of Banking in India – Absorbing information about the potential of ePayments in India.

Q: What is the size of ePayments network in India.

Ans:  As per the Report on Trend and Progress of Banking in India 2008-09, released by Reserve Bank of India on 22^nd 2009, the number of Scheduled Commercial Bank Branches in India as on 31/03/2009, is 64,608/-.  Out of this 60,000+ are on RTGS/NEFT Network i.e a staggering 93%.

This means with a single click, funds can be transferred to 60,000 Branch Account Holders!!

Indeed, our ePayments Network must be the largest  in the world.

Of course, if the bank branch is on CBS, the funds will move at a faster pace.

All the private sector banks are already on CBS.

The New private sector banks, commenced operations with CBS only, as they did not have the leagacy of old data, systems,  etc.

The Older Private sector banks, could migrate to CBS, chiefly due to less number of branches as compared with the Public Sector Banks(PSBs). Of course, these banks had their share of teething problems.

The Foreign sector private banks, too were on CBS on Day 1.

Out of the 27 PSB’s, apart from the State Bank of India Group, Andhra Bank(1425 brs), Corporation Bank(1035 brs), Indian Bank(1612 brs), Oriental Bank of Commerce(1422 brs), Punjab National Bank(4327 brs), Syndicate Bank(2246 brs), Union Bank of India(2570 brs), Vijaya Bank(1101 brs), have put their branches on the CBS. 

Bank of India, Indian Overseas Bank, United Bank of India, Bank of Baroda, Bank of Maharashtra, Dena Bank, UCO Bank, Canara Bank, Central Bank of India, Allahabad Bank, Punjab and Sind Bank are yet to bring all their branches under CBS, as on 31/03/2009.

Out of the above, Bank of Baroda, has currently brought all its branches under CBS.

Some of the PSB’s are opening new branches with CBS from Day 1. This results in making available all the technology driven products to the new Branch customers from Day 1. Hence, the branch can build up a health CASA from day 1.

The below table, reflects the computerization levels in Public Sector Banks as on March 31, 2009. 

Appendix Table IV.35: Computerisation in Public Sector Banks (As on March 31, 2009)
(As on March 31, 2009)
(Per cent)
Sr.	Name of the Bank	Branches Under	Branches	Fully	Branches
No.		Core Banking	Already Fully	Computerised	Partially
		Solution	Computerised#	Branches (3+4)	Computerised
1	2	3	4	5	6
	Public Sector Banks	79.4	15.6	95.0	5.0
	Nationalised Bank	70.6	22.3	92.9	7.1
1	Andhra Bank	100.0	–	100.0	–
2	Corporation Bank	100.0	–	100.0	0.1
3	Indian Bank	100.0	–	100.0	–
4	Oriental Bank of Commerce	100.0	–	100.0	–
5	Punjab National Bank	100.0	–	100.0	–
6	Syndicate Bank	100.0	–	100.0	–
7	Union Bank of India	100.0	–	100.0	–
8	Vijaya Bank	100.0	–	100.0	–
9	State Bank Group	100.0	–	100.0	–
10	State Bank of India	100.0	–	100.0	–
11	State Bank of Bikaner and Jaipur	100.0	–	100.0	–
12	State Bank of Hyderabad	100.0	–	100.0	–
13	State Bank of Indore	100.0	–	100.0	–
14	State Bank of Mysore	100.0	–	100.0	–
15	State Bank of Patiala	100.0	–	100.0	–
16	State Bank of Saurashtra	100.0	–	100.0	–
17	State Bank of Travancore	100.0	–	100.0	–
18	Bank of India	85.8	14.2	100.0	–
19	Indian Overseas Bank	72.4	8.5	80.9	19.1
	United Bank of India	69.3	22.2	91.5	8.5
20	Bank of Baroda	65.8	34.2	100.0	–
21	Bank of Maharashtra	54.4	45.6	100.0	–
22	Dena Bank	51.2	48.6	99.8	–
23	UCO Bank	49.8	1.5	51.3	48.7
24	Canara Bank	38.6	61.4	100.0	–
25	Central Bank of India	30.8	55.7	86.5	13.5
26	Allahabad Bank	9.7	87.7	97.4	2.6
27	Punjab and Sind Bank	1.1	11.8	12.9	87.1
– : Nil/Negligible.
#: Other than branches under Core Banking Solution.

Source: http://rbi.org.in/scripts/AnnualPublications.aspx?head=Trend%20and%20Progress%20of%20Banking%20in%20India