Real Time Gross Settlement System

Transfer – any amount of Rs. 2, 00,000 and above within 2 Hours to Any Bank. The RTGS system is primarily for large value transactions. The minimum amount to be remitted through RTGS is Rs.2 lakh. There is no upper ceiling for RTGS transactions.

Feature: RTGS system is a funds transfer mechanism where transfer of money takes place from one bank to another bank on a “real time” and on “gross” basis.This is the fastest possible money transfer system through the banking channel.Settlement in “real time” means payment transaction is not subjected to any waiting period.

The transactions are settled as soon as they are processed.

Information Needed for RTGS.

Details

Amount to be remitted.

Account number which is to be debited.

Name of the beneficiary bank.

Name of the beneficiary customer.

Account number of the beneficiary customer.

Sender to receiver information, if any.

The IFS code of the receiving branch.

 

National Electronic Fund Transfer (NEFT)

National Electronic Funds Transfer (NEFT) system is a nationwide funds transfer system to facilitate transfer of funds from any bank branch to any other bank branch.Transfer – any amount of Rs.1  and above to any Bank. There is no upper ceiling for NEFT transactions.

The system uses the concept of centralized accounting system and the bank’s account that is sending or receiving the funds transfer instructions, gets operated at one centre.

Beneficiary receives the money:-

The beneficiary gets the credit on the same Day or the next Day depending on the time of settlement.

 The information required:-

Information Needed for NEFT.

Details

Amount to be remitted.

Account number which is to be debited.

Name of the beneficiary bank.

Name of the beneficiary customer.

Account number of the beneficiary customer.

Sender to receiver information, if any.

The IFS code of the receiving branch.

 

List of branches with IFS Codes

Branches IFS Code
Head Office
Bhavan(Main) SVCB0010002
Erandwane(Kothrud) SVCB0010020
Akurdi SVCB0010003
Dhairy SVCB0010004
Dhankwadi SVCB0010005
Sangli SVCB0010006
Kadegaon SVCB0010007
Navi Mumbai SVCB0010008
Solapur SVCB0010009
Kolhapur SVCB0010010
Vita SVCB0010011
Panchgani SVCB0010012
Ambak SVCB0010013
Malkapur-Karad SVCB0010014
New Delhi SVCB0010015
Palus SVCB0010016
Bhilwadi SVCB0010017
Islampur SVCB0010018
Tasgaon SVCB0010019
Worli SVCB0010021
Satara SVCB0010022
Baner SVCB0010023
Hadapsar SVCB0010024