This presentations is all about the different modes of cashless transactions and a small step to promote digital India and digitization in India.
Sources:- NPCI
Axis Bank
SBI
RBI
11. NEFT
National Electronic Funds Transfer (NEFT) is a nation-wide payment system.
One-to-one funds transfer.
Electronically transfer funds from any bank branch to any individual having an
account with any other bank branch in the country.
12. Requirements for NEFT
Both the bank branches of sender and beneficiary must be
part of NEFT network.
Amount to be transferred/remitted.
Account number to be debited/withdrawn.
Account number and name to be credited ie., beneficiary
account name, number.
Bank Name, IFSC code of beneficiary bank branch.
13. Transaction Charges NEFT
Amounts upto Rs 10,000 Rs 2.50 + Service Tax
Amounts above Rs 10,000 and upto Rs
1 lakh
Rs 5 + Service Tax
Amounts above Rs 1 lakh and upto Rs
2 lakh
Rs 15 + Service Tax
Amounts above Rs 2 lakh and upto
Rs 5 lakh
Rs 25 + Service Tax
Amounts above Rs 5 lakh and upto
Rs 10 lakh
Rs 25 + Service Tax
What are the transaction or service charges for NEFT
transactions?
14. What are the NEFT Transaction timings ?
Transaction Timings NEFT
Monday to Saturday
(Except 2nd and 4th Saturday)
8:00 AM to 6:30 PM
17. Requirements for RTGS
Both the bank branches of sender and beneficiary must be
part of RTGS network.
Amount to be transferred/remitted.
Account number to be debited/withdrawn.
Account number and name to be credited ie., beneficiary
account name, number.
Bank Name, IFSC code of beneficiary bank branch.
18. RTGS
The acronym 'RTGS' stands for Real Time Gross Settlement, which can be
defined as the continuous (real-time) settlement of funds individually on an
order by order basis
'Real Time' means the processing of instructions at the time they are
received
'Gross Settlement' means the settlement of funds transfer instructions occurs
individually
Minimum amount of transfer required for RTGS is Rs. 2 lakh. There is no
upper limit, though.
19. RTGS Transaction Transaction Charges
Amount above Rs 2 lakh upto Rs 5
lakh
Rs 25 + Service Tax
Amount above Rs 5 lakh Rs 50 + Service Tax
What are the transaction or service charges for RTGS
transactions?
20. What are the RTGS Transaction timings ?
Transaction Timings RTGS
On Week Days Twelve Settlements from 8 am to 7
pm
On Saturday Six Settlements from 8 am to 1 pm on
Saturdays.
22. National Electronic Fund Transfer Real Time Gross Settlement
Real Time SettlementDiffered net settlement basis
Fund transfer at the time they are
received
Transfer after a cut of time
Settlement of funds transfer
instructions occurs individually
Operates in hourly batches
Processed continuously through
out the business hours.
Eleven settlement from 9 am to 7
pm on weekdays.
Meant for Rs. 2 Lakhs and Above
Five settlement from 9 am to 1
pm on Saturdays
9:00 to 16:30 on weekdays.
9:00 to 16:30 hours on Saturdays.
After this you have to wait till the
next designated time.
V/S
24. IMPS
Immediate Payment Service (IMPS) is an instant interbank electronic
fund transfer service available 24x7, throughout the year including Sundays
and any bank holiday.
Customers can transfer and receive funds via IMPS using their registered
Mobile number and Mobile Money Identifier (MMID) or Account number
and IFSC code.
Use IMPS service to transfer funds anytime, from anywhere using:
Internet banking, mobile.
The beneficiary account is credited immediately when a fund transfer
request is made from your side.
25. Requirements for IMPS
Both the sender and beneficiary must be registered for IMPS
MMID is 7 digit number. First 4 digits allotted by NPCI and last
3 digits are member mobile network
The combination of MMID and mobile number represents the
bank account
You can also register Aadhaar Number and use if for transfer
Mobile PIN password (MPIN)
26. IMPS Transaction Transaction Charges
Upto 1000 Free
Amounts above Rs 10,00 and upto Rs
1 lakh
Rs 5 + Service Tax
Amounts above Rs 1 lakh and upto Rs
2 lakh
Rs 15 + Service Tax
What are the transaction or service charges for IMPS
transactions?
32. Advantages of NEFT - RTGS - IMPS
Less fraud and physical instrument misusage
Confirmation of transaction by SMS or e-mail
Anywhere access and usage – from home, office, travel
Almost real time transfer and quick transactions
No physical cheques or demand drafts
Does not need physical presence of individual
37. The internet Banking refers to the banking services provided by the banks over
the internet , Some of these services include paying of bills , the funds transfer ,
viewing account statement .
Internet
Banking
Internet banking portal provides personal banking services that gives you
complete control over all your banking demands online.
Do we need to get registered for this facility ???
You need to have an account at a branch. You also need to register for the
Internet banking service with the branch. Branch will provide you a Pre Printed
Kit (PPK) containing username and password for first login.
38. Transfer funds to own and third party accounts.
A suite of completely online deposit products (Fixed, Recurring, Flexi, Tax
Saving etc.)
Airline, Rail, Bus and hotel ticket booking
Online Shopping and instant recharge features.
IMPS Funds Transfer
Credit beneficiary accounts using RTGS/NEFT feature
Generate account statements
Setup Standing Instructions and Scheduling payments
Configure profile settings
E- Tax for online tax payment
E - Pay for automatic bill payments
Avail DEMAT and IPO services
Other Value added Services
FACILITIES OF SBI INTERNET BANKING
39. LETS HAVE A LOOK HOW IT WORKS…..
How to login or access your Internet banking services.
How you can transfer funds within bank accounts.
41. POS
A point of sale (POS) is the place where sales are made.
Retailers consider a POS to be the area where a customer completes a
transaction, such as a checkout counter. It is also known as a point of
purchase.
Retailers use a wide variety of tools to process point-of-sale transactions.
Includes cash registers, electronic card readers and barcode scanners.
42. Difference between a
Cash register and a POS?
Cash register - process sales. At the end of the day, it can also
tell you what has been sold and how much you have taken.
This data is then manually transferred into accounts or stock
lists.
POS- much more advanced. These are set up with software
that can link to other networks. They can therefore store
endless data about stock and clients - instantly and
electronically.
46. Mobile payment generally refer to payment services operated under financial
regulation and performed from or via a mobile device.
Instead of paying with cash, cheque (or check), or credit cards, a consumer can use
a mobile phone to pay for a wide range of services and digital or hard goods
It can hold other than payments like bank account detail, credit cards, gift coupon,
Gift coupons and reward certificates, Loyalty cards Offers.
Mobile Wallet
47. Consumer
Download the APP
on Smartphone
Signup using
mobile
Load money using
Dr. & Cr. Cards
Start using wallet
to make payment
Consumer Wallet Limits: Rs.20,000/month for all. Rs.1 lakh/month with KYC
48. Shopkeepers/Servic
e Provider
Download the APP
Signup using
mobile
Self Declare
itself as a
Merchant
Start accepting
payment
Merchant Wallet Limits: Rs.50,000/month with Self Declaration. Rs.1 lakh/month with KYC
49. Advantages
Ease of Use
Ease of Access
No issue of Change
Instant Service
Everything under one roof
Disadvantages
Mobile Network Connectivity
Security Issue
Exclusively for Smartphone
Competition between
54. UPI
UPI is a system that powers multiple bank accounts into a single mobile
application.
Immediate money transfer through mobile device round the clock 24*7 and
365 days.
Merchant Payment with Single Application or In-App Payments.
55. Requirements for Using UPI App
Smartphone
Internet
Bank Account details (only for registration )
56.
57. DOWNLOAD ANY BANK’S APP OR 3RD
PARTY APP
CHOOSE YOUR UNIQUE ID (AADHAR,
MOBILE NO.) AS VIRTUAL PAYMENT
ADDRESS (VPA)
SELECT YOUR BANK
GIVE ACCOUNT DETAILS FOR FIRST TIME
SET M-PIN FOR VALIDATING
TRANSACTIONS
REGISTRATION COMPLETED
58.
59. CHOOSE “COLLECT
MONEY”
ENTER PAYER’S VIRTUAL
PAYMENT ADDRESS
ENTER AMOUNT
ENTER WHEN DO YOU
WANT TO COLLECT
WRITE REMARKS FOR
TRANSACTION
HIT “CONFIRM”
60.
61.
62.
63.
64.
65.
66. Advantage
No Transaction Cost
Single Application for accessing different bank
accounts
Use of Virtual ID is more secure, no credential
sharing
Single click authentication
Raise Complaint from Mobile App directly
69. Works without Internet – Uses voice connectivity.
Round the clock availability (works even on holidays).
Accessible through a common code *99# across all TSPs.
Works across all GSM service providers and mobile handsets.
Additional channel for banking and key catalyst for financial inclusion.
Service also offered through BC Micro ATMs to serve the rural populace.
USSD
73. Visit your branch to link mobile
number and bank account 1
You will get your Mobile Money
Identifier (MMID) and Mobile
PIN (MPIN) upon registration
2
Remember you MMID and
MPIN 3
82. AEPS
AEPS allows bank-to-bank transaction at PoS (MicroATM) with the
help of Bank Card.
Only Aadhar needed
Aadhar enabled Services
Balance Enquiry
Cash Withdrawal
Cash Deposit
Aadhar to Aadhar Funds Transfer
83. Seed your account with your Aadhar number at bank or with the help of banking
correspondent
Now you can do many transactions at any AEPS point without any pin or password
(AEPS points – Micro ATMs)
You can do:
Account balance
Aadhar to Aadhar fund transfer
Cash withdrawal
Cash deposit
Purchase at Fair Price Shops with AEPS
