Bank is offering facility to remit funds transfer Realtime between Banks across India. RTGS is the fastest possible mode of money transfer through bank channels available in India. RTGS facility is primarily for large value remittances. The minimum amount to be remitted through RTGS is Rs. 2 Lakhs. Customers may remit any amount using RTGS facility available at the branch. Customer intending to remit money through NEFT mode has to furnish the following details:
RTGS (real time gross settlement) is electronic payment systems that allow individuals to transfer funds between banks. RTGS is applicable only for money transfer within the India.
Minimum amount required to transfer is Rs. 2 Lakhs. There is no upper limit. Any amount can be transferred.
No. Money can be transferred to only those Branches of Banks where this RTGS facility is enabled. You need to check with Beneficiary whether their Bank is having RTGS facility before initiating remittance from our Bank.
The following should be ensured while putting through a funds transfer transaction using RTGS –
Unique Transaction Reference (UTR) number is a 22 character code used to uniquely identify a transaction in RTGS system
You may get the information from the Bank where you are operating the account.
Approach the nearest branch and fill up the application Form wherein you have to give the details of your account no, amount to be transferred, beneficiaries name, Bank and Branch and IFSC code of the beneficiary bank.
Yes. Subject to applicability of provisions of FEMA
Indian Financial System Code (IFSC) is a unique code of 11 digits of the NEFT enabled Branches. Normally, this code will be printed on the cheque books or it may be obtained from the nearest branch of our Bank.
The beneficiary bank has to credit the beneficiary's account within two hours of receiving the funds transfer message.
No. It is applicable to within the country
Once the transaction is put through, you cannot stop the fund transfer. You have to approach Beneficiary Bank/Branch.
Yes. Tell your clients/vendor to transfer funds through NEFT. Give Subhadra Bank Branch IFSC code and 20 -digit account number to your client/vendor.
Either you can get the confirmation from the beneficiary himself OR from your branch, from where the transaction is initiated.
You can contact the Branch itself from where you have requested for funds transfer.