SyndInstant - (RTGS System for instant transfer of funds)

Real Time Gross Settlement (RTGS) is a technology based initiative for improvement of Payment & Settlement System linked to the funds management. RTGS is a gross settlement in which both processing and final settlement of funds transfer instructions take place continuously i.e. in real time and transfers are settled individually against the present clearing system. RTGS settles payments on a transaction basis instead of on net settlement basis adopted presently at clearing houses. The funds transfer through RTGS is instant, final and irrevocable.

It is a remittance solution to both corporate customers and individual customers for transfer of funds from their accounts with us to other customers of other bank branches, which are RTGS, enabled.

• The product is operative only in RTGS enabled CBS branches. At present available in 1753 of our branches.  Click here  for a list of our RTGS Branches
• At present customer transaction of Rs.1.00 lakh and above are allowed under RTGS
• The transaction hours for RTGS Service is as below :
  •    Monday to Friday    9  A.M  to 4.20 P.M
  •    Saturday                   9  A.M to 11.50 AM
  
  
• . The Charges for RTGS fund transfer are as follows:

            Outward :  Rs. 1.00 per Rs.1000/- (minimum Rs. 150/- maximum of Rs.1000/-) *

Inward : No Charges

* Subject to change from time to time

Electronic Funds Transfer(EFT) System.

The Electronic Funds Transfer (EFT) System was introduced by the Reserve Bank of India in 1995 for quick movement of funds between different Banks for the Bank Customers. The scheme is available for transfer of funds across the Banks at 14 centres at present where Reserve Bank of India manages the Clearing Houses namely Ahmedabad, Bangalore, Bhubaneshwar, Chandigarh ,Chennai, Guwahati, Hyderabad, Jaipur, Kanpur, Kolkata, Mumbai ,Nagpur, New Delhi, and Thiruvananthapuram . The 15th centre to be started soon is at Patna.

The EFT system works on the principle of " NEXT DAY AVAILABILITY OF FUNDS" i.e. the beneficiary gets the funds credited to his account on the very next day, within 24 hours. This is a big boon to customer service since under the paper - based cheque payment system, a customer depositing an outstation cheque for collection receives credit to his account after 1-2 weeks time, depending upon the destination.

It is hoped that the enhancement in the limit of amount of individual transactions under the EFT Scheme would be beneficial for the banks' customers and will go a long way in improving customer service in the banks.

Salient Features:

• Fast remittance facility -Credit is afforded within 24 hours.
  
  
• Any number of remittances per day is permitted.
  
  
• Amount is directly credited to beneficiary account.
  
  
• Scope for frauds involving processing of paper instruments is absent.
  
  
• Built in security.
  
  
• Click here for the DETAILS OF OUR SERVICE CHARGES

SyndDemat (Depository Participant Services)

Our Bank launched SyndDemat (Depository Participant Services) w.e.f. 16.01.2008. As on date 57 branches across the country are enabled for providing DP Services. List of the branches enabled for DP Services


• 1. Dematerialisation
  
  
• 2. Rematerialisation.
  
  
• 3. Holding of securities in eletronic form
  
  
• 4. Settlement of trades by delivery - On market ; Off market ; Inter-depository
  
  
• 5. Pledge/Unpledge of securities
  
  
• 6. Freezing/unfreezing of Demat Accounts.
  
  

Syndicate Gift Cheques

• Ideal Gift suitable for any occasion like birthday , naming ceremony, thread ceremony, marriage, marriage -anniversary, Deepavali, Christmas etc.
  
  
• Gift cheques are issued at par, i.e., without collecting any charges whatsoever.
  
  
• Available in denominations of Rs 51,Rs 101 and Rs 501.
  
  
• Issued at over 786 branches all over India and encashable at par at any Branches / Extension Counters all over India, i.e., in about 2000 outlets of the Bank.
  
  
• Click here to view details of various OTHER SERVICES PROVIDED BY OUR BANK