RTGS/NEFT working on 14/04/2011

RTGS/NEFT Open on 14/04/2011

RTGS is functioning on 14/04/2011

NEFT is functioning on 14/04/2011

Well last year, Reserve Bank of India, declared a sudden holiday for 14/04/2010. Please refer my earlier post @ http://goo.gl/s1sJ6

This year, the mood seems to be different. As 14/04/2011, was not initially declared a Holiday under the RTGS Holidays 2011, RTGS/NEFT will be kept open.

It will be an interesting experience. All the Bank Branches across India are closed. So, tomorrow the transactions will be driven by Alternate Channels i.e Internet Banking, Mobile Banking, ATM channel.

The mood of Indian Banking customers towards Alternate Banking Channels can be judged.  Yes, lots of eyes will be on RTGS/NEFT on 14/04/2011.

Trust the Indian Banking Customers will opt in large numbers for Alternate Channels.

I understand the sentiments of folks @ the RTGS/NEFT Centralised Operations Units in Banks across the country.

Cheers to the unknown heroes.

RTGS/NEFT working on 12/04/2011

This page expires on 13/04/2011

RTGS Closed on 01/04/2011. NEFT Closed on 01/04/2011

Warning: Information on this page expires on 01/04/2011
Under the Negotiable Instruments Act 1881, 01/04/2011 is a holiday across India

Federal Bank - IMPS live

Federal Bank  - IMPS live

Federal Bank, has joined IMPS on 15/02/2011 with a soft launch and by 7^th march 2011, has gone live for a public launch.

This is a very fast TAT. Normally, if you observe, the gap between the Soft Launch and the Public Launch is at least a month. oH However, Federal Bank could shorten the average TAT.

The details can be accessed @

http://www.federalbank.co.in/General_ProductandServices_Inter-bankMobilePaymentSyst.aspx

For the time being, it is a plain vanilla product. However, 1 additional feature is that the Federal Bank customers can transfer funds on the IMPS Channel via the SMS Mode too and not be dependent on the Mobile Banking Application.

This is a good option.

Canara Bank joins IMPS with soft launch

Canara Bank joins IMPS with soft launch

This is a bit exciting news. Canara Bank has a wide branch network of 3200+ branches. This wide network of branches should be able to boost the IMPS volumes. However, a bit of innovative marketing from Canara Bank field staff will enable this job to be achieved soon.

Canara Bank was born in 1906, was nationalized in 1969. It was the first public sector bank to join the MasterCard ATM Network way back in 2000.

Canara Bank sponsors 3 Regional Rural Banks (RRB’s)  - Pragathi Gramin Bank, Karnataka, South Malabar Gramin Bank, Kerala, and Shreya Gramin, Uttar Pradesh.

Recently it has engaged Wipro to implement a Core Banking Solution for the above 3 RRB’s. The 3 RRB’s have a combined branch network of 900 branches. And the day is not far off, when this 3 RRB’s will be access to the ATM’s/RTGS/NEFT channels via Canara Bank.

Of course, IMPS too is also a possibility.