ePayments(RTGS/NEFT), closed on 14th April, 2009

ePayments(RTGS/NEFT), closed on 14^th April, 2009

 Reserve Bank of India, in a late afternoon decision on 13^th april, 2009, decided to declare a Holiday for ePayments(RTGS/NEFT), on 14^th April, 2009. This is the first Holiday in 2009, of  ePayments(RTGS/NEFT) which has been declared at the last moment.

In an ideal situation, Reserve Bank of India, would not like to deviate from the published list of Holidays, for ePayments(RTGS/NEFT) 

The declaration of Holiday for ePayments(RTGS/NEFT), is so sudden, that Reserve Bank of India, has not updated the same in it’s Holiday list @Reserve Bank of India website.

Please note that this is not a comment on Reserve Bank of  India, just an indication of the importance of ePayments(RTGS/NEFT), in our country, and which Reserve Bank of  India, is doing its utmost, to popularize ePayments(RTGS/NEFT)

 

Well, hope the customers have made alternative arrangements on 14^th April, 2009. However, this sudden declaration of Holiday, should not cause a major dislocation, as already 90% of Banking Industry, was closed on 14^th April, 2009.

April 14th, 2009, Dr.Ambedkar Jayanti, is a working day for ePayments(RTFS/NEFT), on the day of Publication of this Post.

April 14^th, 2009, Dr.Ambedkar Jayanti, is a working day for ePayments(RTFS/NEFT), on the day of Publication of this Post. 

One key advantage of ePayments (RTFS/NEFT), is that, ePayments(RTFS/NEFT),  will be available on all working days except Sundays and other national holidays, whether it is a holiday in a particular state or not, RTGS will function. 

ePayments(RTFS/NEFT),will be open, as long as any 2 RBI Centres,  out of Mumbai, Delhi, Calcutta, Madras, Hyderabad and Bangalore work. As per the Original List of Holiday’s,  April 14^th, 2009, is a working day New Delhi and Calcutta, hence ePayments(RTFS/NEFT),were open. 

However, as per Notification http://delhigovt.nic.in/leave_on(14%20April)_English.pdf, April 14^th, 2009, has been declared a Holiday in New Delhi, under the NI Act. 

This means out of the 6 RBI Centres only Calcutta, will be functioning. So far, there is no news of a holiday under NI Act, being declared on April 14, 2009, in Calcutta.

We have to wait and see, if RBI decides to declare a holiday for ePayments(RTFS/NEFT),on April 14^th, 2009, or decides to keep open the ePayments(RTFS/NEFT). This will be known only on 13^th April, 2009, Monday. 

However, there are slim chances of RBI deciding to declare a Holiday on April 14^th, 2009, as today i.e Saturday,11^th April 2009,  there is no decision from RBI. 

Customers are executing more and more ePayments(RTFS/NEFT),transactions thru, Online Banking, and a sudden holiday, may lead to schedules going haywire. However, there will be very few Branch Originated transactions on April 14^th, 2009.

List of Banks Participating in RTGS as on 28th February, 2009

List of Banks Participating in RTGS as on 28th February, 2009
ABHYUDAYA CO-OP BANK LTD	KALUPUR COMMERCIAL CO-OP BANK
ABN AMRO BANK N.V.	KALYAN JANATA SAH BANK LTD
ABU DHABI COMMERCIAL BANK	KARAD URBAN CO-OP. BANK LTD
ALLAHABAD BANK	KARNATAKA BANK LTD
ANDHRA BANK	KARUR VYSYA BANK LTD
AXIS BANK LTD	KOTAK MAHINDRA BANK LTD
BANK OF AMERICA	KRUNG THAI BANK PCL
BANK OF BAHRAIN AND KUWAIT	MAHANAGAR CO-OP.BANK LTD
BANK OF BARODA	MAHARASHTRA STATE CO-OP BANK
BANK OF CEYLON	MASHREQ BANK
BANK OF INDIA	MIZUHO CORPORATE BANK LTD
BANK OF MAHARASHTRA	NEW INDIA CO-OP BANK
BANK OF NOVA SCOTIA	NORTH KANARA GSB COOP BANK LTD
BANK OF RAJASTHAN	NUTAN NAGARIK SAHAKARI BANK LTD
BARCLAYS BANK PLC	OMAN INTERNATIONAL BANK SAOG
BHARAT COOPERATIVE BANK LTD	ORIENTAL BANK OF COMMERCE
BK OF TOKYO MITSUBISHI UFJ LTD	PARSIK JANATA SAHAKARI BK LTD
BNP PARIBAS	PNB GILTS LIMITED
CALYON BANK	PUNJAB & MAHARASTRA CO-OP BANK
CANARA BANK	PUNJAB AND SIND BANK
CATHOLIC SYRIAN BANK LTD	PUNJAB NATIONAL BANK
CENTRAL BANK OF INDIA	RAJKOT NAGRIK SAHAKARI BANK
CENTURION BANK	RATNAKAR BANK LIMITED
CHINATRUST COMMERCIAL BANK	RESERVE BANK OF INDIA
CITI BANK	SARASWAT CO-OPERATIVE BANK LTD
CITIZEN CRDIT CO-OP BANK LTD	SBI DFHI LTD
CITY UNION BANK	SEC TRADING CORP OF INDIA LTD.
CORPORATION BANK	SHAMRAO  VITHHAL CO-OP BANK LT
COSMOS CO-OPERATIVE  BANK	SHINHAN BANK
DBS BANK	SOCIETE GENERALE
DENA BANK	SOUTH INDIAN BANK
DEPOSIT INS AND CR GUAR CORPN	ST.BANK OF BIKANER AND JAIPUR
DEUTSCHE BANK LTD	STANDARD CHARTERED BANK LTD.
DEUTSCHE SECURITIES(I) PVT.	STATE BANK OF HYDERABAD
DEVELOPMENT CREDIT BANK	STATE BANK OF INDIA
DHANALAKSHMI BANK LTD	STATE BANK OF INDORE
DOMBIVLI NAGARI SAHAKARI BANK	STATE BANK OF MAURITIUS
DSP MERRILL LYNCH SEC TRAD LTD	STATE BANK OF MYSORE
FEDERAL BANK LTD.	STATE BANK OF PATIALA
HDFC BANK LTD.	STATE BANK OF TRAVANCORE
HONGKONG & SHANGHAI BKG CORPN	SYNDICATE BANK
ICICI BANK LTD	TAMILNAD MERCANTILE BANK LTD
ICICI SECURITIES LIMITED	TAMILNADU STATE APEX COOP BANK
IDBI CAP MARKET SERVICES LTD	THANE BHARAT SAHAKARI BANK LTD
IDBI LTD.	THANE JANTA SHAKARI
INDIAN BANK	THE AHMEDABAD MERC COOP BK LTD
INDIAN OVERSEAS BANK	THE GREATER BOMBAY CO-OP BANK
INDUSIND BANK LTD.	THE KAPOL CO-OP BANK LTD
ING VYSYA BANK LTD.	THE LAXMI VILAS BANK LTD
JAMMU AND KASHMIR BANK	THE W. B. STATE COOP BANK LTD
JANAKALYAN SAHAKARI BANK LTD.	UCO BANK
JPMORGAN CHASE BANK, N A	UNION BANK OF INDIA
YES BANK LTD	UNITED BANK OF INDIA
VIJAYA BANK

Topic of the Week-Bravo SV Sunil – A Superlative Hockey Player.

Topic of  the Week-Bravo SV Sunil – A Superlative Hockey Player.

            Today morning, was going through the Bangalore Edition of  today’s i.e5th April, 2009, Deccan Chronicle, and a small article on the last page attraced me.

It stated ‘SUNIL BRAVES PERSONAL TRAGEDY’.

A closer look at it, stated that SV Sunil’s( a star performer of the current Indian Hockey Team), father had expired in Kodagu, Karnatka. And, SV Sunil, preferred to stay back  with the Indian Hockey Team, currently in Malaysia, for the The Sultan Azlan Shah Cup. The main reason, was by the time, SV Sunil, reached Kodagu, Karnatka, the final rites would have been over. 

            BRAVO SUNIL, YOUR DAD WILL BE PROUD OF YOU, and I too Salute, your commitment to Indian Hockey.

            Indian Hockey fans, will be thankful, for your sacrifice.

 The Sultan Azlan Shah Cup is an annual field hockey tournament held in Malaysia. It began in 1983 as a biennial contest. The tournament became an annual event after 1998, following its growth and popularity. The tournament is named after the ninth Yang di-Pertuan Agong (King) of Malaysia, Sultan Azlan Shah, an avid fan of field hockey. 

The clan of Kodavas in the Indian state of Karnataka have a long history of association with the game of field hockey. The district of Kodagu which is the land of the Kodavas is considered as the cradle ofIndian hockey. More than 50 Kodavas have represented India in international hockey tournaments, out of which 7 have also participated in Olympics. B P Govinda, M P Ganesh, M M Somaiya, C S Poonacha and Arjun Halappa are some of the prominent Kodavas who have represented India. The passion for hockey in Kodagu is so much that more than 200 families participate in an annual hockey festival. This festival is recognised as one of the largest field hockey tournaments in the world and has been referred to the Guinness Book of Records. The Kodava hockey festival was started in the year 1997 and was the brainchild of 69 year old Pandanda Kuttappa who was a first division hockey referee and an ex-employee of State Bank of India. He conceived the idea of creating a platform in which the different Kodava families can get together. Realising the passion of hockey in Kodagu, he decided that a hockey festival would be a good event to bring Kodavas together. He also chose the hockey festival because he was disturbed about the growth of junior hockey players from Kodagu.

April 7th2009-ePayments(NEFT /RTGS),will be working normally.

 

April 7^th2009-ePayments(NEFT /RTGS),will be working normally.

 

Though, Banks will be closed in 50% of India, on April 7^th, 2009, on account of Mahavir Jayanti, ePayments(NEFT /RTGS),will be working normally.

 

Banks will remain closed in the states of Chhatisgarh, Haryana, Himachal Pradesh, Jharkand, Karnataka, Madhya Pradesh, Maharashtra, New Delhi, Rajasthan, Tamil Nadu, Uttranchal and Uttar Pradesh.

 

However, Net Banking of all Banks will be functioning normally, so customers can execute the transactions thru the same.  However, as a precaution, customers are advised to plan their ePayments, keeping in view of the Holiday in few States. As long as the IFSC Code, Beneficiary Customer Account Number and Beneficiary Customer Name are perfectly matching at the Destination Bank, the funds will be instantly applied. The difficulty starts only, when there is variation in IFSC Code, Beneficiary Customer Account Number and Beneficiary Customer Name

 

 

Mahavir Jayanti

The main Jain festival of the year is Mahavira Jayanti, the birth anniversary of Mahavira. According to the Digambar school of Jainism, Lord Mahavira was born in the year 615 BC, but the Swetambaras believe that He was born in 599 BC. Both sects however agree that he was the son of Siddhartha and Trisala. Legend has it, that He was conceived by Devananda, wife of a Brahmin named Rishabhdeva. The gods, ingeniously, transferred the embryo to the womb of Trisala. It is said that the expectant mother had sixteen auspicious dreams before the child was born (only 14 according to the Swetambaras). Astrologers intepreting these dreams, stated that the child would be either an emperor or a Teerthankar.

This religious event is largely observed by the Jains, by visiting sacred sites and worshipping the Teerthankars. The event holds special significance in Gujarat and Rajasthan, due to the ancient shrines at Girnar and Palitana in Gujarat. Mahavira Jayanti is also celebrated at Parasnath temple in Calcutta and at Pawapuri in Bihar.