R.T.G.S. / NEFT

“RTGS" stands for Real Time Gross Settlement. RTGS System is fund transfer mechanism, where transfer of money takes place from one bank to another. Customer can transfer amount from his account to any body’s bank account in other RTGS enable banks branch any where in India.

1. Safest and Secure Mode of Fund Transfer
2. Credit to Beneficiary’s Account on the Same Day
3. No Courier/ Postal expenses to Transfer the funds
4. Customers can receive money through RTGS to their accounts with Bank from Other Banks
5. Credit to the Beneficiary Account will be given by the branch of the Beneficiary’s Bank on the same day and in case of holiday / after business hours, credit will be given on next working day.
6. Minimum Amount of Remittance – As per RBI guidelines

National Electronic Fund Transfer This system of fund transfer operates on a Deferred Net Settlement basis. Fund transfer transactions are settled in batches as opposed to the continuous, individual settlement in RTGS.

Procedure

Customer has to submit his application in prescribed format. Application forms are available in all branches.

Beneficiary (receiver, to whom you want to make payment) Details

• Beneficiary Name
• Beneficiary Account Number
• Beneficiary Bank Name
• Beneficiary Branch Name
• Beneficiary Bank IFSC
• IFSC of Beneficiary Branch
• Accounts Type – Savings / Current / Cash Credit

Address : Shri Mahalaxmi Co-operative Bank Ltd .
                 Shree Bhavan, 167, B Ward, Mangalwar Peth,
                 Kolhapur-416012