Banking Service Delivery Channels – II

1. Internet Banking

Internet banking is the most convenient way to bank- anytime, any place, at your convenience to avoid the queue or delays .

internet banking , also known as Online banking, e-banking or virtual banking, is an electronic payment system gives you the ability to manage your money online – over the internet – so you do not have to visit a bank branch.

● Features of Internet Banking :
  • Check Account Statement
  • Transfer Funds
  • Open a Fixed Deposit
  • Pay Utility Bills
  • Open Deposits
  • Recharge prepaid mobile/DTH and a lot more.
  • Buy General Insurance
  • Pay Taxes
  • Order Cheque Book
  • And many more financial and non-financial services
2. National Electronic Fund Transfer (NEFT),Real Time Gross Settlement (RTGS)

●National Electronic Funds Transfer (NEFT):

National Electronic Funds Transfer (NEFT) maintained by the Reserve Bank of India (RBI) is an a nation-wide electronic funds transfer system facilitating one-to-one funds transfer. Under this Scheme, individuals can electronically transfer funds from any bank branch to any individual having an account with any other bank branch in the country participating in the Scheme.

●Real Time Gross Settlement (RTGS):

Real Time Gross Settlement (RTGS) is an electronic form of funds transfer where the transmission takes place on a real time basis. In India, transfer of funds with RTGS is done for high value transactions, the minimum amount being Rs 2 lakh. The beneficiary account receives the funds transferred, on a real time basis.

To know more about NEFT ,RTGS and IMPS visit this website ..