Federal Bank joins IMPS with soft launch

Federal Bank joins IMPS with soft launch

One more South Indian Based Bank, Federal Bank, plunged into IMPS. Federal Bank joined IMPS with a soft launch on 15/02/2011.

So, in the next financial year, Federal Bank customer’s would be enjoy the power of IMPS

As usual, this being only a soft launch, no details yet is updated on its website.

The Origins of the Bank can be traced back to the pre-independence era. Initially known as Travancore Federal Bank, it’s existing name ‘Federal Bank’, was adopted in 1947. It’s  headquarters is nestled on the banks on the river Periyar. S

Oriental Bank of Commerce - IMPS

Oriental Bank of Commerce - IMPS

Oriental Bank of Commerce joins IMPS with soft launch

On 10/02/2011, Oriental Bank of Commerce walked into the IMPS club, with a soft launch

As this is a soft launch, Oriental Bank of Commerce has not yet updated the details on its website.

The normal time lag between Soft Launch and Commercial Launch is a month. So, by this month, Oriental Bank of Commerce should be able to all its mobile banking customer’s the IMPS facility.

OBC came into existence in the erstwhile Undivided India on 19th Feb' 1943 in Lahore.

The partition saw the closure of its Branches in Pakistan. However, it’s than chairman Late Lala Karam Chand Thapar honored the commitments made to the depositors from Pakistan and paid every rupee to its departing customers.

Like all Institutions, OBC had its challenging phases. The period of 1970-76 is said to be the most challenging phase in the history of the Bank.  This was because, at one time profit plummeted to Rs.175, and the owner of the bank, the Thapar House, decided to sell / close the bank.

But, the employees and leaders of the Bank came forward to rescue the Bank. The owners were moved and had to change their decision of selling the bank and in turn they decided to improve the position of the bank with the active cooperation and support of all the employees. 

The turnaround happened and OBC was back to normal.

Another turning point was the merger of Global Trust Bank with itself. This enabled the Bank to expand its footprints  

02/03/2011 - RTGS/NEFT working

Lakshmi Vilas Bank - IMPS

Lakshmi Vilas Bank joins IMPS with soft launch on 19/01/2011

Lakshmi Vilas Bank now is part of the IMPS.

LVB has 237 + branches, and the major advantage of joining IMPS is LVB customers will be able to transfer funds to other IMPS Bank account holders.

LVB has presence in 105 semi-urban locations in Tamil Nadu. These locations are yet untapped by large banks. LVB will have an edge in the said locations.

The Lakshmi Vilas Bank Limited (LVB) was founded eight decades ago ( in 1926) by seven people of Karur under the leadership of Shri V.S.N. Ramalinga Chettiar, mainly to cater to the financial needs of varied customer segments.

Incidentally Karur Vysya Bank too has its founding roots in Karur.

Mahesh Bank – Direct RTGS Member

Mahesh Bank – Direct RTGS Member

Today Mahesh Bank, headquartered in Hyderabad, Andhra Pradesh, announced the launch of RTGS Services for its customers.

The Bank has 33 branches primarily in Andhra Pradesh. It has also has a branch each in Jaipur and Mumbai.

The Bank was accorded SCHEDULED STATUS by Reserve Bank of India from 26th October, 1996 - the first Co-operative Bank to be accorded this status in the entire South India.

RTGS is only a path to join the ATM Network, by becoming a member of the Shared ATM Network.

http://thehindubusinessline.com/2011/01/25/stories/2011012550702100.htm

Kudos to Mahesh Bank for joining the Safe ePayments train.

I am sure; it will reap the benefits of this action.