Indian Overseas Bank

इण्डियन ओवरसीज़ बैंक

GOOD PEOPLE TO GROW WITH

Digital Banking

Elavenil A A
Senior Manager,
Faculty, STC Chennai
 DIGITAL BANKING - OVERVIEW
 Digital Banking is providing the banking facilities online, like cash deposit,
withdrawal, fund transfer, updation of passbook etc., that historically were
only available to customers when physically inside a bank branch.
 With Digital Banking, Bank will be benefited with the following:
 Customer Acquisition at low cost: Digital channels provide banks with a unique
opportunity to deliver highly customised propositions and services to their
potential and existing customers at relatively lower costs.
 Digital is individual and intimate: Digital channels provide access to larger
public social platforms, the inherent nature of the platform makes
communications through these channels individual and intimate.
 Data Opportunity: Digital brings with it the unique opportunity to capture
enormous volumes of data in a faster and efficient manner. Analytics and
data mining on these information assets are expected to enable banks to
design and provide solutions as per individual needs.
 Brand Loyalty: To avoid the probable shift of customers towards wallets and
proposed payments banks, the similar facilities need to be introduced at our
end to keep the customers associated and loyal to the Brand.
 Real Time Solutions: Digital channels have the ability to provide real-time
solutions to customers. Banks have been able to considerably simplify their
internal processes, mobile apps and digital back-end set-ups.

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INITIATIVES OF GOI:
 Government of India gives foremost importance for Digitalisation.
Govt. of India has started the Digital India Project. Digital India
Project consists of the three components i.e. Creation of Digital
Infrastructure, Delivery of services digitally & Digital literacy.
 Some important Facilities developed due to Digital India project
are, Digital locker, E-education, E-health, E-sign, E-hospital (DIGITAL
AIIMS), E-library (E-GRANTHALAYA), Attendance.gov.in, BHIM,
UMANG, COWIN, CCTNS, and MyGov.in etc…
 Introduction of Demonetization by GoI, played an important role in
digitalization of bank transactions, which will lead to less cash
society.
 More details can be found on https://www.digitalindia.gov.in/
 All new and ongoing e-governance projects as well as the existing
projects, which are being revamped, should now follow the key
principles of e-Kranti namely ‘Transformation and not Translation’,
‘Integrated Services and not Individual Services’, ‘Government
Process Reengineering (GPR) to be mandatory in every MMP’, ‘ICT
Infrastructure on Demand’, ‘Cloud by Default’, ‘Mobile First’, ‘Fast
Tracking Approvals’, ‘Mandating Standards and Protocols’,
‘Language Localization’, ‘National GIS (Geo-Spatial Information
System)’, ‘Security and Electronic Data Preservation’.
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INITIATIVES OF RBI:
 Reserve Bank of India has the separate Department of Payment & Settlement Systems with a vision to set
an environment for hassle free Digital payments and remittance services by way of permitting and
controlling the emerging technologies in Banking. This guides the Banks, financial service providers, PPIs,
etc. to develop the Digital Products within the set norms.
 RBI has guided NPCI to create an Infrastructure to simplify payment system.
 Digital banking has emerged as the preferred banking service delivery channel in the country along
with ‘brick and mortar’ banking outlets. Reserve Bank has been taking progressive measures to improve
availability of digital infrastructure for banking services. In furtherance of this objective and as a part of
efforts to accelerate and widen the reach of digital banking services, the concept of “Digital Banking
Units” (DBUs) is being introduced by the Reserve Bank.
 The Payments and Settlement Systems Vision 2019-2021 envisages empowering every citizen with an
Exceptional e-Payment Experience, and provide her access to a bouquet of options.
 The Regulatory Sandbox framework was released in August 2019 with a view to foster innovation.
 The Reserve Bank, for the first time, organised a Global hackathon titled HaRBInger 2021 – with a view to
make retail payments more innovative.
 RBI has set up the Reserve Bank Innovation Hub (RBIH) as a subsidiary in Bengaluru.
 RBI has Created a new FinTech Department in the RBI from January 2022 to give focused attention to
this evolving and dynamic sector.
 RBI is now actively working towards a phased implementation of Central Bank Digital Currency (CBDC)
in both wholesale and retail segments. This is expected to give further filp to the digital ecosystem.
 Introduced tech-enabled regulatory innovation by the RBI is the Account Aggregator (AA) framework.
This is an important step towards realising the potential of empowering millions of underserved customers
to digitally access and share their financial data across institutions in a secure and efficient manner. The
framework has been expanded to include institutions regulated by SEBI, IRDAI and PFRDA.
 The Reserve Bank is committed to take more such initiatives with the support of all stakeholders. In this
endeavour and in collaboration with the stakeholders, three exciting new products are being launched
later today. Two of these pertain to enhancing the feature set of UPI by facilitating small value
transactions through ‘UPI Lite’ and linking credit cards to UPI. The third initiative is the enablement of
cross-border inward bill payments using Bharat Bill Payment System (BBPS)

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INITIATIVES OF NPCI:
 National Payment Corporation of India, has created a common digital
payment infrastructure, which can be used by all Banks, to include the
every bank customer to use the facilities provided by the Banks. This is
called as interoperability.
 NPCI has developed the following payment infrastructure to suit the
customers of all banks.
 Immediate Payment services (IMPS)
 Unified payment system(UPI), UPI 123, Autopay, IPO
 BHIM – Bharat Interface for Money
 *99# (USSD based UPI)
 National Automated clearing house(NACH)
 National Financial Switch (NFS)
 Cheque Truncation system
 Aadhaar Enabled Payment System(AEPS)
 Aadhaar Payment Bridge system(APBS)
 Bharat Bill Payment System(BBPS)
 Rupay Cards
 Bharat QR
 BHIM Aadhaar Pay
 National Electronic Toll Collection (RFID Tags)
 National Common Mobility Card
 e-RUPI

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NATIONAL ELECTRONIC FUNDS TRANSFER

National Electronic Funds Transfer (NEFT) is a nation-wide centralised

payment system owned and operated by the Reserve Bank of India (RBI)

IFSC or Indian Financial System Code is an alpha-numeric code that

uniquely identifies a bank-branch participating in the NEFT system. It’s a
11-digit code with the first 4 alpha characters representing the bank, and
the last 6 characters representing the branch. The 5th character is 0 (zero)

There is no limit imposed by the RBI for funds transfer through NEFT
system. However, banks may place amount limits based on their own risk
perception with the approval of its Board.

The person having no bank account can remit funds through NEFT to a
beneficiary having a bank account, with another NEFT member bank. It
can be done by furnishing additional details such as complete address,
telephone number, etc. Such cash remittances will, however, be restricted
to a maximum of ₹ 50,000/- per transaction.

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NATIONAL ELECTRONIC FUNDS TRANSFER
NEFT ADVANTAGES

Round the clock availability on all days of the year.

Pan-India coverage through large network of branches of all types of banks.

Positive confirmation to the remitter by SMS / e-mail on credit to

beneficiary account.

Penal interest provision for delay in credit or return of transactions.

No levy of charges by RBI from banks.

No charges to savings bank account customers for online NEFT

transactions.

Available for one-way funds transfers from India to Nepal.

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NATIONAL ELECTRONIC FUNDS TRANSFER
 Besides funds transfer, NEFT system can be used for a variety of
transactions including payment of credit card dues to the card
issuing banks, payment of loan EMI, inward foreign exchange
remittances, etc
 The NEFT system is available round the clock throughout the
year on all days, i.e., on 24x7x365 basis. NEFT presently
operates in batches on half-hourly intervals throughout the day.
In case of non-availability of NEFT for any reason, appropriate
message will be broadcasted by RBI to all system participants.
 The RBI does not levy any charges from member banks for
NEFT transactions. Also, there are no charges to be levied for
Inward transactions at destination bank branches for giving
credit to beneficiary accounts.
 With effect from January 01, 2020, banks have been advised to
not levy any charges from their savings bank account holders for
NEFT funds transfers initiated online.

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AVAILABILITY NEFT SYSTEM ON 24X7 BASIS

There will be 48 half-hourly batches every day. The settlement of first batch will
commence after 00:30 hours and the last batch will end at 00:00 hours.

The system will be available on all days of the year, including holidays.

NEFT transactions after usual banking hours of banks are expected to be

automated transactions initiated using ‘Straight Through Processing (STP)’
modes by the banks.

The existing discipline for crediting beneficiary’s account or returning the

transaction (within 2 hours of settlement of the respective batch) to originating
bank will continue.

Member banks will ensure sending of positive confirmation message (N10) for all
NEFT credits.

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NATIONAL ELECTRONIC FUNDS TRANSFER
 NEFT can be used to transfer funds from / to NRE and NRO
accounts in the country. This, however, is subject to the adherence
of the provisions of the Foreign Exchange Management Act, 2000
(FEMA) and Wire Transfer Guidelines.
 Expected timeline of two hours from the batch settlement within
which beneficiary’s account should be credited.
 If it is not possible to afford credit to the account of the
beneficiary for any reason, destination banks are required to
return the transaction (to the originating branch) within two
hours of completion of the batch in which the transaction was
processed.
 If the NEFT transaction is not credited or returned within two
hours after batch settlement, then the bank is liable to pay penal
interest to the affected customer at the current RBI LAF Repo
Rate plus two percent for the period of delay / till the date of
credit or refund, as the case may be, is afforded to the customers’
account without waiting for a specific claim to be lodged by the
customer in this regard
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NATIONAL ELECTRONIC FUNDS TRANSFER
 The credit is given to the account number written / given by remitter in his / her
application / instruction. Credit to beneficiary account is released solely based on
account number. It is the responsibility of remitting customer to write correct
account number. The originator / sender should exercise due care in providing the
correct account number of the beneficiary, in the NEFT remittance instruction /
application.
 In case of complaints the customer can approach grievance redressal cell (SPGRS)
with details of the disputed transaction. In case grievance is not resolved within
30 days, He may approach the Digital Banking Ombudsman under the RBI
Banking Ombudsman Scheme, 2006
 The charges in our Bank is given below. NEFT through alternate delivery channel
is free for SB accounts

NEFT amount ADC Other than SB Through Branch

Up to Rs. 10000/- Rs. 1 /- Rs. 1.5 /-

Above Rs. 10000/- up to 1 lac Rs. 3 /- Rs. 4 /-

Above Rs. 1 lac up to 2 lac
Rs. 11 /- Rs. 14 /-

Above Rs. 2 lac Rs. 19 /- Rs. 24 /-

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NEFT – REGULATORY GUIDELINES

 Eligibility Criteria for Participation in NEFT System

for Scheduled Commercial Banks
 Type A Membership of RTGS subject to CRAR 9%
 Net NPAs less than 10%
 No default in maintenance of CRR and SLR during the past one
year
 Net profit in at least one of the preceding two years; and
 Minimum net - worth of Rs. 50 crore
 NEFT will function on all the RTGS working days and the
banks participating in NEFT are required to participate on
all such working days. The list of holidays for RTGS / NEFT
is available in the website of RBI
at http://www.rbi.org.in/scripts/HolidayMatrixDisplay.aspx.
 The settlement so arrived by through multilateral netting
shall be final and irrevocable, in terms of section 23 of the
“Payment and Settlement Systems Act, 2007” as soon as the
same is determined in terms of the procedures notified by
RBI.
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NEFT – PROCEDURE
 Bank customer (i.e. sender or originator) desirous of remitting funds under the system
shall submit an "NEFT Application Form" (to be designed by the participating bank)
authorising the sending bank to debit the sender's account and transfer funds to the
beneficiary as specified in the Model NEFT Application Form (Annexure III). The
application could be submitted either in physical form or electronically.
 The sending bank branch shall prepare the SFMS (Structured Financial Messaging
Solution (SFMS) message containing a batch of payment instructions for funds transfer,
processed and consolidated in the manner specified for transmission of payment
instructions and communication related thereto) message as and when the applications
for funds transfer is received and arrange to send the message to NEFT Service Centre
till the cut off time for the batch.
 he sending NEFT Service Centre shall accept the messages received from branches /
customers through net banking platform if these are complete / in order and received
within cut-off time or reject the same if the messages are incomplete / not confirming to
the parameters specified.
 The sending Service Centre shall transmit the NEFT SFMS message to the NEFT
Clearing Centre by using the communication network designated by Reserve Bank of
India.
 After consolidating all NEFT messages received from originating banks, the NEFT
Clearing Centre shall process the data, arrive at fund settlement, send the fund file to
Deposit Accounts Department (DAD), RBI for settlement and after settlement is over,
send beneficiaries' details / data to each beneficiary bank for affording credit to the
beneficiaries' accounts. Banks which have no transactions will get a batch wise 'nil'
transactions report and a summary report at the end of the day indicating all inward
transactions received by them during the day.
 NEFT messages generated for destination banks will be transmitted to the NEFT
Service Centre of each beneficiary bank using SFMS.

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NEFT – PROCEDURE
 On receipt of the NEFT message, the receiving NEFT Service Centre shall process these files
and forward them to the beneficiary branches using SFMS. Alternatively, the receiving NEFT
Service Centre may use the Straight Through Processing (STP) interface available in SFMS
and upload these NEFT messages to their internal banking solution directly, to afford the
credits to the beneficiary accounts centrally.
 The beneficiary branches would make payment to the beneficiaries within two hours of batch
settlement time by crediting the specified account of the beneficiary or otherwise placing funds
at the disposal of the beneficiary.
 A payment instruction issued for execution shall become irrevocable when it is executed by the
sending bank. Any revocation, after the payment instruction is executed by the sending bank
shall not be binding on any other party in the NEFT system.
 An inward credit message which is not returned within two hours from the time at which the
payment instructions are processed at NEFT Centre (B+2) is treated to have been completed
and credit afforded to the beneficiary's account by the beneficiary branch. It is, therefore, vital
that uneffected credits are re-transmitted back as return NEFT transactions in the immediate
next batch itself.
 After successfully crediting the Beneficiary's account, the beneficiary bank will send a Credit
Acknowledgement message indicating “credited to customers' account” to the originating bank
through NEFT Service Centre. The originating banks after receiving the positive confirmation
message from the beneficiary bank, shall initiate a mobile SMS or generate an e-mail to the
originator to convey the fate of the transaction.
 If the beneficiary specified in the sender's payment instruction fails to get payment through
the NEFT system for some valid reasons, the sender shall be informed immediately after the
sending bank gets the returned NEFT. The sending bank shall also arrange to make payment
to the sender by crediting the account of the sender or otherwise placing funds at the disposal
of the sender. The originating bank shall provide the description “NEFT-Return” in the pass
book / account statement of the originator whose NEFT transaction is returned.
 In case of returns pertaining to the outward transactions initiated by a non-customer, the
initiator to be advised immediately by referring to the contact details provided, earlier, and
funds to be kept at his / her disposal.
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NEFT – RIGHTS AND OBLIGATIONS OF SENDING BANK
 (a) The Bank shall execute a payment instruction issued by the customer,
after due verification with reference to the security procedure for its
authenticity, unless –
 the funds available in the account of the sender / originator is not adequate to comply with
the payment instruction.
 the payment instruction is incomplete or it is not issued in the prescribed form.
 the payment instruction cannot be executed on account of court order / attachment, etc.
 the bank has reason to believe that the payment instruction is issued to carry out an
unlawful transaction
 the payment instruction cannot be executed under the NEFT System.
 (b) No payment instruction issued by the sender / originator shall be binding
on the sending bank until the bank has accepted it. The onus of ensuring
credits to the Non Resident External (NRE) account, comply with the extant
Foreign Exchange Management Act (FEMA) Regulations and the Wire
Transfer Guidelines rest with the sending bank. The sending bank shall
therefore ensure that such remittances are eligible to be credited to NRE
accounts in India under the said Act and guidelines. In such cases, the
account type number 40 is to be used to enable the beneficiary bank to
identify that the funds proposed to be credited to the beneficiaries' account
represent foreign inward remittance / eligible to be remitted abroad.
 (c) The sending bank shall not execute a payment instruction without
complying with the security procedure.
 (d) If the funds transfer is not complete before end of the particular NEFT
batch timing as specified by the customer, the bank shall advise the customer.

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NEFT – RIGHTS AND OBLIGATIONS OF SENDING BANK
 (e) No payment instruction shall be accepted for execution in the
NEFT System, if the beneficiary's bank / branch is not a participating
bank or institution.
 (f) The sending bank shall be responsible for the accuracy of the
transaction as furnished / originated by the sender.
 (g) The sending bank shall not be entitled to bind any other
participants in the NEFT System with any "special circumstances"
attached to a payment instruction accepted by it.
 (h) The sending bank shall maintain record of all payment
instructions executed by it for a period of ten years in terms of
instructions issued by RBI under the PSS Act, 2007 on the
preservation of information / data / record pertaining to payment
system applications.
 (i) The sending bank shall, upon completion of funds transfer of a
payment instruction, furnish to the originator on request by him, a
duly authenticated record of the transaction.
 (j) The participating banks shall reconcile the transactions on a daily
basis with reference to the settlements / settlement details made
available by the NEFT centre and the bank account details by RBI,
DAD, Mumbai.
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NEFT – RIGHTS AND OBLIGATION OF BENEFICIARY BANK
 (a) The beneficiary bank shall execute the payment instruction within two
hours of batch settlement (B+2) on the NEFT working day unless it notices
one or more of the following deficiencies –
 The beneficiary bank has no such account number as mentioned in the payment
instructions.
 The beneficiary bank is bound by instructions of the beneficiary not to give or
receive any credit to the account.
 No credit could be afforded to the Beneficiary's account for any other reasons.
 (b) The beneficiary bank may reject a payment instruction on one or more of
the grounds mentioned above. The beneficiary bank shall return the funds
and the reasons for the return as per the NEFT procedure, specified in
Paragraph 6 (ix) of these guidelines to the sending bank.
 (c) The beneficiary branches would make payment to the beneficiaries within
two hours of batch settlement time by crediting the specified account of the
beneficiary or otherwise placing funds at the disposal of the beneficiary. For
any delay, beneficiary bank is liable to pay penalty (at the rate RBI LAF
Repo rate plus two percent). Payment of penal interest shall be made to
customer even if no claim is lodged by the customer to that effect.
 (d) The receiving bank shall maintain the record of all payment instructions
received by it for a period of ten years in terms of guidelines issued by RBI
under the Payment and Settlement Systems Act on preservation of
information / data / record pertaining to payment system applications.
 (e) Banking Ombudsmen under the RBI's Banking Ombudsman Scheme,
2006 will have jurisdiction in case the customers' complaints are not resolved
within thirty days
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NEFT – NEFT 2A FORM – CUSTOMER CONDITIONS
 I / We have checked the funds transfer instructions / particulars given in the
application and I / We shall be liable to compensate the Bank for any loss
arising on account of any error in payment order / amendment / cancellation
thereto.
 I / We understand that the messages given after cut-off time will be sent only
on the next batch / working day.
 The transfer is effected for legitimate personal / business needs.
 I / We shall ensure availability of funds properly applicable to the payment
order before execution of the payment order by the bank and understand that
if the bank executes the transfer order without properly applicable funds
being available in my account, I / We shall be bound to pay to the bank the
amount debited to my account together with charges including interest
payable to the bank provided the transfer was effected as per my order.
 I / We understand that in case the payee branch does not have NEFT facility,
the funds will be credited back to my / our account as and when it is returned
by the beneficiary bank.
 I / We agree that in the event of any delay in the completion of the funds
transfer or any loss on account of error in the execution of the funds transfer
pursuant to my / our payment order, the bank's liability shall be limited to
the extent of the amount involved in the funds transfer plus interest (at
the RBI LAF Repo rate plus two percent) for any period of delay.
 I / We also agree to abide with all the other terms and conditions contained in
the model agreements / application forms or other terms / rules / regulations
governing NEFT transactions as enumerated by RBI.
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REAL TIME GROSS SETTLEMENT (RTGS) SYSTEM

RTGS is a system where there is continuous and real-time

settlement of fund-transfers, individually on a transaction by
transaction basis (without netting). 'Real Time' means the
processing of instructions at the time they are received; 'Gross
Settlement' means that the settlement of funds transfer
instructions occurs individually.

Considering that the funds settlement takes place in the books of

the Reserve Bank of India, the payments are final and irrevocable

The RTGS system is primarily meant for large value transactions.

The minimum amount to be remitted through RTGS is ₹ 2,00,000/-
with no upper or maximum ceiling.

The system is available on all days on 24x7x365 basis. There is real

time transfer of funds to the beneficiary account

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REAL TIME GROSS SETTLEMENT (RTGS) SYSTEM
 Operating hours of RTGS were extended for customer and inter-
bank transactions at different points of time. RTGS shall be available
round the clock on all days of the year with effect from December
14, 2020
 With effect from July 01, 2019, the Reserve Bank has waived the
processing charges levied by it for RTGS transactions. Banks may
pass on the benefit to its customers..
 Our bank charges are
S.No RTGS customer txn amount Charges
1. Rs. 2.00 lacs to Rs. 5.00 lacs Rs. 24/-
2. Above Rs. 5.00 lacs Rs. 49/-

 Under normal circumstances, the beneficiary branches are

expected to receive the funds in real time as soon as funds are
transferred by the remitting bank. The beneficiary bank has to credit
the beneficiary's account within 30 minutes of receiving the funds
transfer message.

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RTGS SYSTEM - ADVANTAGES

It is a safe and secure system for funds transfer.

RTGS transactions / transfers have no amount maximum cap.

There is real time transfer of funds to the beneficiary account.

The remitter need not use a physical cheque or a demand draft.

The beneficiary need not visit a bank branch for depositing the paper
instruments.

The transaction charges have been capped by RBI.

The transaction has legal backing.

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REAL TIME GROSS SETTLEMENT (RTGS) SYSTEM
 The RTGS system accepts future value dated transactions from the
remitting bank for settlement on RTGS working days up to three days’
in advance. Such transactions will be placed in the queue and shall be
settled on the basis of the value date of the transaction.
 RTGS is a credit-push system i.e., transactions can be originated by the
payer / remitter / sender only to pay / transfer / remit funds to a
beneficiary.
 While the customers do not have the facility to track the transaction,
the RBI has implemented the feature of positive confirmation in an
RTGS transaction. Under this, the remitting bank would receive a
message from RBI (through the beneficiary bank) that the money has
been credited to the beneficiary bank / customer account. Based on this,
the remitting bank should advise the remitting customer that money
has been credited to the receiving bank’s beneficiary account.
 if it is not possible to credit the funds to the beneficiary customer’s
account for any reason, the funds received by the RTGS member bank
will be returned to the originating bank within one hour of receipt of
the payment at the Payment Interface (PI) or before the end of the
RTGS Business day, whichever is earlier. Once the money is received
back by the remitting bank, the original debit entry in the customer's
account needs to be reversed
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REAL TIME GROSS SETTLEMENT (RTGS) SYSTEM
 In case of any delay in returning the failed payment, the originating
customer is eligible to receive compensation at current repo rate plus 2%.
 Unique Transaction Reference (UTR) number is a 22 character code used to
uniquely identify a transaction in RTGS system.
 The Legal Entity Identifier (LEI) is a 20-character alpha-numeric code used
to uniquely identify parties to financial transactions worldwide. It has been
implemented to improve the quality and accuracy of financial data
reporting systems for better risk management. It is used to create a global
reference data system that uniquely identifies every legal entity in any
jurisdiction that is party to a financial transaction. It can be obtained from
any of the Local Operating Units (LOUs) accredited by the Global Legal
Entity Identifier Foundation (GLEIF), the body tasked to support the
implementation and use of LEI. In India, LEI can be obtained from Legal
Entity Identifier India Ltd. (LEIL) (https://www.ccilindia-lei.co.in/), which is
also recognised as an issuer of LEI by the Reserve Bank of India (RBI).
 All single payment transactions of ₹50 crore and above undertaken by
entities (non-individuals) should include remitter and beneficiary LEI
information. This is applicable to transactions undertaken through the
NEFT and RTGS payment systems.
 In case of RTGS, both customer payment and inter-bank transactions
meeting the above criterion should include LEI information.

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RTGS - OBLIGATIONS AND DUTIES OF MEMBERS / PARTICIPANTS
 All members / participants are required to closely monitor their liquidity
positions. RTGS settlement accounts of members / participants are required to
be funded adequately so that gross and MNSB (Multilateral Net Settlement
Batch) transactions are settled smoothly. Queuing of transactions and delay of
MNSB file settlement due to liquidity considerations shall attract penal action
including suspension of membership.
 Members shall implement necessary infrastructure for accessing the Central
System at RBI on its Payment Gateway. The systems specifications should
comply with the Bank's (RBI) instructions / guidelines. Members should do
regularly maintenance of the systems to avoid any failure of hardware, network
and software and put in place the Business Continuity Plan as per the
guidelines specified by the Bank from time to time.
 In case of any failure of the system resulting in non-operation of the system at
the member end, the member should report to the Bank (RBI) at the earliest and
not later than 30 minutes of the incidence. The members have to adhere to the
Business Continuity Plan (BCP) / Disaster Recovery (DR) guidelines as notified
by the Bank from time to time.
 Members shall adhere to the Information Security Guidelines issued by the
Bank (RBI) from time to time.
 Members shall furnish complete information of the payment transactions in the
prescribed message format while originating transactions stipulated by the
Bank (RBI) from time to time.
 Members shall not at any time assign, lease, license or dispose of to any other
person, trust, company or corporation including its subsidiaries in whole or in
part, RTGS services, including the software, provided by the Bank or any benefit
or advantage derived therefrom
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 RTGS - OBLIGATIONS AND DUTIES OF MEMBERS / PARTICIPANTS
 Members shall comply with the circulars, notifications, instructions etc. issued by the Bank
(RBI) from time to time with regard to RTGS.
 Members are required to provide such information as may be called for by the Bank (RBI) in
respect of RTGS.
 The Bank (RBI) may, at any time, conduct or get conducted audit and inspection of the
member's site with or without any prior notice.
 Members shall pay service charges / membership fees / transaction fees, if any, as notified by
the Bank (RBI). The Bank has the right to debit such service charges / membership fees /
transaction fees from the member's current account / settlement account maintained with the
Bank. The Bank may, at its discretion, levy tariffs on various system events associated with
the transactions. These charges are subject to revision from time to time. The Bank may, if
required, levy any other additional charges. The Bank has waived the transaction fees in
RTGS with effect from July 01, 2019.
 Members should maintain RTGS transactions data for at least 10 years or such time period as
specified by the Bank from time to time. For members using the PO module, the data shall be
available in RTGS.
 The Bank (RBI) may suspend / terminate the membership if the participant is suspended from
any other associated system(s) like SFMS, INFINET etc.
 The Bank (RBI) has the right to suspend / terminate the membership in case of noncompliance
of any instructions issued from time to time. The Bank shall have the authority to determine if
a member can continue to participate in RTGS, or not. The Bank shall have the right to
suspend or terminate the membership, if continuation of the member is viewed to be
detrimental to the smooth functioning of RTGS in any manner.
 A member shall continue to be liable and responsible for the contents of the messages sent by
it, even if it subsequently it resigns or is suspended or its membership is terminated.
 A member shall be directly and wholly liable in respect of all its customers and with reference
to all the transactions, executed on RTGS on behalf of such customers and the Bank shall in
no way be responsible either for the source or usage of funds involved in the transactions.

25
 EPS– RTGS AND NEFT SYSTEM OPERATIONAL GUIDELINES AND EFFICIENCY IN
IDENTIFIED AREAS

Operational instructions:
1. Outward Transactions Processing: As the settlement of transactions takes place
in the books of the Reserve Bank of India, the payments are final and
irrevocable. Branches are advised to ensure the details provided (namely
Beneficiary Account number, IFSC and Amount) are correct before processing
the transaction. Both the Maker and Checker must verify the details mentioned
without fail.
2. Return Discipline: It is observed that on many instances the inward remittances
due for return are returned by branch in the mode other than the mode in which
it was received i.e., Inward NEFT is returned in RTGS mode or vice versa. It is
strictly advised to return the transactions in same mode in which they were
received, and also that the UTR Number of the inward transaction has to be
mentioned in sender to receiver information column without fail.
3. Refund of inward wrong credits:
➢ Many banks are approaching RTGS/NEFT cell frequently with requests for refund of double
credit/credits made to wrong accounts through RTGS/NEFT. After verification of their request,
RTGS/NEFT cell forwards the complaint received to the respective branches and advises for refund of
the amount.
➢ On many occasions branches delay their response to requests from RTGS/NEFT cell. Branches shall
block such amounts immediately and take steps to refund as expeditiously as possible.
➢ Where such requests are received directly from other banks/correspondents, branches should refer to
the beneficiary customer whose account is credited and arrange for refund on priority.
➢ Branch has to ensure availability of Recall letter with indemnity clause and debit consent from
customer for reversal in case of Duplicate or Excess credits.
➢ In case of beneficiary name mismatch, branch has to obtain debit consent from our customer and
return the transaction to sender details as per return discipline.
➢ Prompt return of wrong credits is more important as some of our branches approach RTGS/NEFT cell
with a similar request for recovery of wrong /double credits made to other banks and we need the co-
operation of other banks for recovering such amounts.

26
 EPS– RTGS AND NEFT SYSTEM OPERATIONAL GUIDELINES AND EFFICIENCY IN
IDENTIFIED AREAS

Operational instructions:
4. Status of inward messages:
➢ As and when the inward remittances are received, the system instantaneously passes them on to the respective
accounts or the same are returned in case of any issue. RTGS cell in no way can view the message before it is
delivered to our bank and expedite the processing of any inward transaction. Also, the branch is advised to view
the status of the transaction in HPORDM and HSMI menu before raising complaint to RTGS Cell.
➢ Many times, RTGS cell receives enquiries from branches as to the non-receipt of funds pertaining to NPA
recovery or cash remittance. Branches many times request RTGS Cell to enquire status of these transactions with
originating bank. Getting information or follow up by respective branch end is more effective. RTGS cell only acts
as facilitator of inward transactions and hence entertaining such requests for branches all over India is not
practicable / not possible due to time constraints involved.
5. Indo Nepal Remittance: Indo Nepal remittance is mainly used to boost the trade
payments between two countries - India and Nepal. All Indo Nepal remittances
are routing through SBI Pool account only. Ceiling per transaction for Indo
Nepal remittance is restricted to Rs.2,00,000 inclusive of commission amount
with any number of remittances in a year per remitter. The ceiling is subjected
to change as per Treasury (foreign) circular/FEMA guidelines.
6. Branches are advised to use branch NEFT sundry account(0113511001) for
sending Nepal remittance. In HPORDM input SBI Nepal IFSC SBIN0004430 as
beneficiary IFSC, Nepal, SBI pool account number 2399468044302 as
beneficiary account number and beneficiary name under name field. Nepal Bank
name and branch name should be given under address line 1 to line 3 in
beneficiary customer details.
7. Indo Nepal remittance commission/charges: The charges for transactions up to
₹50,000 shall continue as provided in circular DPSS (CO)
No.1381/04.09.003/2008-09 dated February 09, 2009. The charges for
transactions beyond ₹50,000 shall be applicable as provided in SBI circular
D&TB/CHLS/SKJ/2021-22/145(2) dated October 07, 2021.

27
 EPS– RTGS AND NEFT SYSTEM OPERATIONAL GUIDELINES AND EFFICIENCY IN
IDENTIFIED AREAS

Operational instructions:
8. BULK NEFT | RTGS: It is observed that many branches are getting different
types of error in creation and uploading the BULK files. Branches are already
familiar with the Excel tool shared by RTGS, it is advised to use the Excel tool
shared by RTGS only for proceeding the BULK NEFT / RTGS. In the provided
Excel tool detailed mandatory checks and steps are provided in the Sheet Name
File format and Execution steps. By following the above sheets branches can
minimize the errors occurring in the BULK file generation. All the steps to be
carried out sequentially, NEFT/RTGS is generated only after Message step.
A. HTTUM upload in Trial mode, with rename file after upload as NEVER.
B. Upload in NEFTUPL.
C. Verify in NEFTUPL.
D. Message in NEFTUPL.
Branch to generate reports after completion of each step of execution to verify the data uploaded. In
case branch faces any issue in BULK NEFT|RTGS, kindly share the file name, User Id of uploader
and contact details to RTGS Cell via mail for resolution.
9. Provision of LEI data: It is observed that in many cases invalid 20-digit LEI is
included in the sender LEI and beneficiary LEI by branches. The LEI data should
not be kept blank and fed with valid LEI for all the eligible accounts. Branch to
mention type of account i.e. Government Departments/Ministries account in
remarks in case the data is kept blank. RBI is closely monitoring the correctness
of the LEI details captured by all the banks. Hence Branches are advised to input
the valid LEI details in the respective fields mentioned above, without fail.
Implementation of auto fetching of the sender LEI directly from the CBS will soon
come into effect. Separate circular for maintaining LEI details will be updated
after implementation. The standard operating procedure for processing of
RTGS|NEFT transactions are provided in annexure.

28
 STANDARD OPERATING PROCEDURES FOR RTGS|NEFT TRANSACTIONS:

1. Recall of Outward transactions:

a) Recall of transactions is a tedious and time consuming process, as the funds are already
delivered to beneficiary bank and funds will be returned only after availability of funds
with debit consent from beneficiary. So, branches to take utmost care while initiating
transactions to avoid recall of transactions.
b) In some unavoidable instances where recall of transactions is required, branches to kindly
note that RTGS Cell will only handle recall of transactions in case of duplicate
transactions, excess amount, and wrong beneficiary account number.
c) Branch should prepare recall letter along with indemnity clause separately for each bank,
mentioning exact reason for recall and details of transaction to be recalled. The letter
should be printed on branch’s letter head and signed by branch head. The scanned copy of
the same may be forwarded to RTGS Cell.
d) No Recall requests will be entertained for credits to unintended beneficiary accounts i.e.
where name and account number matches or the transaction is sent by customer through
modes other than CBS i.e. by selecting wrong beneficiary in Online modes of transfer.
2. Procedure to check details of Inward transaction: RTGS Cell frequently receives
complaints/mail to provide details of inward transactions. The details of all the
transactions received are available in CBS. The procedure for checking the details
of transactions is shared to all RCC and branches using HPORDM and HSMI
menu. The manual for the same is also shared in RTGS-NEFT page in IOB-
Online.
3. Processing of outward NRE transactions from Office Account: In some cases
customer does not maintain SB/CC/CD account with our bank but maintain only
FCNR/NRE term deposits. To send deposit closure proceeds through NEFT/RTGS
transactions branch to follow below procedure to process outward transaction:
a) Credit FCNR/NRE deposit proceeds to office account 0113511001- NEFT SC
b) Create NEFT/RTGS transaction to the debit of this account. On Validate/Submit, system
will prompt the user to choose the type of remittance NRE/Ordinary. Based on the choice
opted system will route the transaction to RBI in desired format.
29
 STANDARD OPERATING PROCEDURES FOR RTGS|NEFT TRANSACTIONS:
4. IFSC Related Issues: The IFSCs are added/enabled in CBS based upon the details received from RBI
periodically. In cases where branch is unable to generate NEFT/RTGS transactions due to non-
availability of IFSC in CBS, branch should drop a mail to RTGS Cell mentioning the IFSC and
screenshot of error for faster resolution. For IFSC issues related to other modes of payment, may be
taken up with concerned teams. For allotment of new IFSC for our bank’s
branch/department/Regional Offices, branch/department/Regional Offices should provide letter from
Planning department of respective controlling office. The IFSC will be allotted and enabled in CBS
after receipt of confirmation from RBI which will be shared to branch/department/Regional Offices
by RTGS Cell. Only after the confirmation from RTGS Cell, branch to initiate NEFT/RTGS
transactions.
5. Reconciliation of NEFT/RTGS Sundry Creditor Accounts: The NEFT/RTGS Sundry Creditor accounts
are office accounts and are to be used for NEFT/RTGS transactions only. It is observed that branches
are routing transactions other than NEFT/RTGS through these accounts, also many branches are
initiating bulk transactions through these accounts. Even though the accounts are to be brought to
zero balance before EOD, it is observed that pending balances are available in some accounts. It is
strictly advised to use these accounts for NEFT/RTGS transactions only and no other mode of
payments to be initiated through these accounts. Even though EOD check exists for balance,
branches to ensure no balances are available in these accounts. Responsibility to reconcile and
maintain zero balance in these account lies completely with the branch. The persons
posting/passing/verifying such transactions will be personally held liable for violating the guidelines.
6. Elimination of PISP entries: It is observed that branches mostly accept the transactions in PISP
menu without verifying the beneficiary details and the funds are lying in branch sundry creditors
without reconciliation. Branches are advised to eliminate the NEFT and RTGS transactions available
in PISP menu promptly by either accepting it to the respective destination account or reject the
transaction by mentioning proper return reason. For transactions where the beneficiary details or
purpose of remittance is unknown for Office accounts, the transactions to be rejected stating proper
reason for rejection. No transaction to be accepted and credited to sundry account for later reversal.
7. Complaints resolution: In many instances branches does not provide transaction details while
sending mail to RTGS Cell. Kindly note that UTR is key identifier for NEFT|RTGS system, it is
difficult to track the transactions without UTR. Branches are advised to provide UTR and date of
transaction in the complaint for faster resolution. RTGS Cell will be forwarding the query/complaint
to concerned bank for resolution and will not be able to follow each case separately. It is advised that
branch should follow up with beneficiary bank to which the query/complaint was forwarded under
copy to RTGS cell. It is also requested to reply on the same mail instead of sending a fresh mail for
the same issue.
30
 IMMEDIATE PAYMENT SERVICE (IMPS)
❖ For transferring funds real time and 24X7X365 interbank was a major
challenge faced in banking industry. Only NEFT & RTGS were
available to user for fund transfer during banking hours.
❖ With the above context in mind, NPCI conducted a pilot study on the
mobile payment system with the banks like SBI, BOI, UBI and ICICI
in August 2010. Also the banks like Yes bank, Axis and HDFC bank
joined this league in the month of September, October and November
2010 respectively. Immediate Payment Service (IMPS) public launch
happened on 22nd November 2010 by Smt. Shyamala Gopinath, DG
RBI at Mumbai and this service is now available to the Indian public.
❖ IMPS provides robust & real time fund transfer which offers an
instant, 24X7, interbank electronic fund transfer service that could be
accessed on multiple channels like Mobile, Internet, ATM, SMS,
Branch and USSD(*99#). IMPS is an emphatic service which allow
transferring of funds instantly within banks across India which is not
only safe but also economical. Currently on IMPS, 674 members are
live which includes banks & PPIs.
❖ This facility is provided by NPCI through its existing NFS switch.
❖ The eligible criteria for the Banks who can participate in
IMPS is that the entity should have valid banking or prepaid
payment instrument license from Reserve Bank of India to
participate in IMPS.

31
IMMEDIATE PAYMENT SERVICE (IMPS)
Input options (beneficiary details) for initiating funds
transfer:

Using Mobile number and MMID

• IMPS allows funds transfer using a beneficiary mobile number and
MMID (Mobile Money Identifier)
• MMID is a seven digit number, first four digits of which are called NBIN
(allocated to member by NPCI) and last three digits are provided by the
member
• A combination of mobile number and MMID is linked to a unique account
number

Using Account number and IFSC

• IMPS allows funds transfer using beneficiary account number and IFSC

In case for any reason, technical or business, if the IMPS transaction is not completed the
reversal of the remitters funds will happen immediately if the failure happens at
remitters end. In case if such transaction is a “ Timed Out /Suspect “ , the funds
will be credited to the beneficiary account depending on the credit confirmation shared by
NPCI to the beneficiary Bank on next working day. Otherwise remitter’s account will be
re-credited after NPCI returns the amount on 2nd working day

32
 IMMEDIATE PAYMENT SERVICE (IMPS)
 Mobile Money Identifier is a 7 digit number, issued by banks.
MMID is one of the input which when clubbed with mobile
number facilitates fund transfer. Combination of Mobile no. &
MMID is uniquely linked with an Account number and helps in
identifying the beneficiary details. Different MMID’s can be linked
to same Mobile Number. (Please contact your bank for getting
the MMID issued)
 Maximum Limit per transaction is Rs. 5 lakh. Multiple transactions
may be permissible depending upon your bank and IMPS
Limits approved.
 customer can link more than one account to the same mobile
number. However each A/C no. will have different MMID.
 IMPS is an immediate fund transfer service, after initiating the
payment request payment cannot be stopped or cancelled.
 Registration is only requested if there is a change in mobile
number.
 Our bank charges are ( Including Staff)
S.No Customer txn amount Charges
1. Upto Rs.10,000/- Rs. 2.50/-
2. Above Rs. 10,000/- and upto Rs. 1.00 lac Rs. 5.00/-
3. Above Rs. 1.00 lac and upto Rs. 2.00 lacs Rs. 15.00/-
33
UNIFIED PAYMENTS INTERFACE (UPI)

Push and Pull Payments

Virtual Address (‘Username@PSPName’)

Transfer using Single identifier like Aadhaar No

Banks –(Payment Service Provider) will provide

App to customers of any bank

One App for all transaction needs

Single Click 2FA

34
UNIFIED PAYMENTS INTERFACE (UPI)
 Unified Payments Interface (UPI) is a system that powers
multiple bank accounts into a single mobile application (of any
participating bank), merging several banking features, seamless
fund routing & merchant payments into one hood. It also caters
to the “Peer to Peer” collect request which can be scheduled and
paid as per requirement and convenience.
 PI-PIN (UPI Personal Identification Number) is a 4-6 digit
pass code you create/set during first time registration with this
App. You have to enter this UPI-PIN to authorize all bank
transactions. If you have already set up an UPI-PIN with other
UPI Apps you can use the same on BHIM. (Note: Banks issued
MPIN is different from the UPI UPI-PIN, please generate a new
UPI-PIN in the BHIM app) Note: Please do not share your UPI-
PIN with anyone. BHIM does not store or read your UPI-PIN
details and your bank's customer support will never ask for it.
 The different channels for transferring funds using UPI are:
 Send/Collect through UPI ID
 Send via Account Number + IFSC
 Scan and pay
 Share QR and pay
 Payment links in merchant apps

35
UNIFIED PAYMENTS INTERFACE (UPI)

UPI Architecture

36
UNIFIED PAYMENTS INTERFACE (UPI)
Pay Transaction

37
UNIFIED PAYMENTS INTERFACE (UPI)
Collect Transaction

38
UNIFIED PAYMENTS INTERFACE (UPI)
❖ Instant “Pay”(push)and “ Collect”(pull)using single click two
factor authentication where mobile is first factor(what you have)
and MPIN/Biometrics (what you know/are) as second factor.
❖ Immediate money transfer through mobile device round the clock
24*7 and 365 days.
❖ Single mobile application for accessing different bank accounts.
❖ Single Click 2 Factor Authentication – Aligned with the
Regulatory guidelines, yet provides for a very strong feature of
seamless single click payment.
❖ Bill Sharing with friends.
❖ Best answer to Cash on Delivery hassle, running to an ATM or
rendering exact amount.
❖ Merchant Payment with Single Application or In-App Payments.
❖ Utility Bill Payments, Over the Counter Payments, Barcode (Scan
and Pay) based payments.
❖ Donations, Collections, Disbursements Scalable.
❖ Raising Complaint from Mobile App directly.
39
UNIFIED PAYMENTS INTERFACE (UPI)
❖ At present, the upper limit per UPI transaction is Rs.1 Lakh per account
per day. This amount varies from Bank to Bank hence please check on the
same with user’s respective bank. (For IPO application the limit has been
increased to Rs. 2 Lakh per transaction using UPI)
❖ Any debit from your account would require your UPI PIN to authorise a
debit on your account. UPI will only auto debit user account in case user opt
for recurring debit for bill payments, or if user have invested in an IPO or
user have gifted a friend via UPI for a future date.
❖ In case of change in SIM/mobile/application of the BHIM UPI enabled app,
customer would need to register again for UPI.
❖ To promote UPI the website www.upichalega.com has been created. UPI
Chalega campaign educates customers about using UPI for their daily
expenses such as at the vegetable shop, petrol pumps, restaurants, e
commerce, bill
❖ If the transaction is Pending ,due to some issue at the beneficiary bank end,
there is a delay. The amount will reach him/her in 48 hours, once the bank
is done with its daily settlements.
❖ In case of failures money will be refunded back to User account. Sometimes
this takes longer than intended. If the user do not receive the refund within
1 hour, please contact customer support at bank.
❖ Several bank accounts can be linked to the same virtual address depending
on the functionalities being made available by the respective PSPs

40
BHARAT BILL PAYMENT SYSTEM (BBPS)
The Bharat bill payment system is a Reserve Bank of India (RBI) conceptualized
system driven by National Payments Corporation of India (NPCI). It is a one-stop
ecosystem for payment of all bills providing an interoperable and accessible “Anytime
Anywhere” bill payment service to all customers across India with certainty, reliability
and safety of transactions.

Bharat BillPay has multiple modes of payment and provides instant confirmation of
payment via an SMS or receipt. It offers myriad bill collection categories like
electricity, telecom, DTH, gas, water bills, etc. and also other repetitive payments like
insurance premium, mutual funds, school fees, institution fees, credit cards, fastag
recharge, local taxes, housing society payments, etc. at one single window.

Bharat BillPay transaction can be initiated through multiple payment channels like
Internet, Internet Banking, Mobile, Mobile-Banking, POS (Point of Sale terminal),
Mobile Wallets, Kiosk, ATM, Bank Branch, Agents and Business Correspondents, by
just looking at the Bharat BillPay logo

Bharat BillPay facilitates myriad payment modes enabling bill payments. The
payment modes options facilitated under the ecosystem are Cards (Credit, Debit and
Prepaid), NEFT Internet Banking, UPI, Wallets, Aadhar based Payments and Cash.

41
CATEGORY OF BILLERS IN BHARAT BILLPAY:

Electricity
Telecom LPG Gas
(Mobile Post-paid, Booking Other categories
Landline Post-paid Insurance (Life, like mutual funds,
and Broadband) General, Health) subscription fees,
credit cards,
Loan housing society,
Repayments recurring deposits,
DTH municipality taxes
FASTag and services etc.
Recharge would be covered
Gas-Pipedline Cable under Bharat
BillPay shortly
Education Fees
Water

42
PAYMENT AGGREGATORS (PAS) AND PAYMENT
GATEWAYS (PGS)
 PAs are entities that facilitate e-commerce sites and merchants to
accept various payment instruments from the customers for
completion of their payment obligations without the need for
merchants to create a separate payment integration system of
their own. PAs facilitate merchants to connect with acquirers. In
the process, they receive payments from customers, pool and
transfer them on to the merchants after a time period.
 PGs are entities that provide technology infrastructure to route
and facilitate processing of an online payment transaction
without any involvement in handling of funds.
 Bank and non-bank PAs handle funds as part of their activities.
Banks, however, provide PA services as part of their normal
banking relationship and do not therefore require a separate
authorisation from RBI. Non-bank PAs shall require authorisation
from RBI under the Payment and Settlement Systems Act, 2007
(PSSA).
 Amounts deducted from the customer’s account shall be remitted
to the escrow account maintaining bank on Tp+0 / Tp+1 basis.

43
INTERNET BANKING

www.iobnet.co.in

Individual
Corporates
(Retail)
customers
customers

Self Activation Branch

Branch
Using Debit Activation (IB
Activation
card Admin)

44
INTERNET BANKING
 Internet Banking services in IOB was started in the year 1999
 IOB Internet Banking caters the requirements of the following clientele:
 Individual (Retail) customers
 Corporates customers
 Registration process
 Advise to visit IOB website-www.iobnet.co.in- Internet Banking-Individual/Corporate Login-New user
registration and fill the details. The user has to create Login id and password. Once application is
generated kindly advise to take a print and sign the document and submit it to branch, which
Branch may approve in Br admin under Individual/Corporate approval for the respective Login. If
customer is having debit card then Internet Banking registration approval can be done by providing
debit card details.
 Account should be active.
 Account should be SO/E or S (Jointly operated – allowed only for corporate accounts).
 In general the applicant should be major and for age between 10 to18 years. The account should
be operated by guardian.
 In MRCR menu (CBS) preferred contact type should be cell phone and address should be
mailing/home. Preferred email type should be communication.
 In case of NRE/NRO customers where mobile number updated in CBS is an INDIAN number, then
during registration customer has to select country as INDIA and provide the mobile number or else
branch has to update mobile number in CBS with country code for overseas number and customer
has to select the same country and provide the number as updated in CBS during registration.
 On activation, a four-digit PIN number would be sent to the customer’s mail id which is to be used
for funds transfer purpose

45
INTERNET BANKING
 Corporate Funds Transfer
 The corporate users can be categorized as
 JM-Junior management
 MM-Middle management
 TM-Top management
 Funds transfer can be done with three levels authorizing a transaction viz,
 Maker
 Checker
 Verifier
 Activation of Accounts
 Branch would activate the account on receiving the signed application form from the customer
 Once the account is activated, the customer would receive an E-mail about account activation and the PIN
Number (Transaction Password)
 In case of corporate login, each user would receive a PIN number
 Login blocked
 The Internet Banking account would be blocked on entering three times wrong passwords consecutively
 If A/c blocked means user can reset the password using forgot password
 If customer select Self-Activation, then he/she will be required to enter the following
details:
 Debit Card Number
 Expiry date of the debit cord
 Debit Cord PIN
 our bonk hos now introduced a new feature for delivery of OTP for resident retail customer, during their visit abroad,
under which OTPs will be sent to both their registered mobile number and registered email id. This facility is
available "On request" basis.

46
INTERNET BANKING

Account Services

Remittances

Facilities Profile Related

Bills Payment(
BBPS)

Tax Payments
IOB cards
management

Utility
Payments/Receipts
IPO(ASBA)

47
INTERNET BANKING
 Facilities Available
 Account Services
➢ Balance inquiry
➢ Last few transactions
➢ Account statement (6 months at a time)
➢ Cheque Book request
➢ Cheque Services – Inward Clearing details, Outward Clearing details, Search Cheque paid,
Positive Pay, View Positive Pay Status
➢ Pension View – Civil pension, Railway pension, Defence pension, Postal pension, Telecom
pension
➢ Deposit – view deposit, Open deposit, Close/Renew deposit, Submit F15G/15H, Deposit
Calculator
➢ Nomination
➢ Loan View
➢ PPF Loan / Deposit 24*7
➢ Trade Finance view – Packing Credit, Bills
➢ PPF Certificate
➢ Stop Cheque Payment
➢ NSDL – Insta Demat A/c : Open Demat A/c & Open Trading A/c
➢ Request Services – View Service Request, Request for locker, Request for Demat A/c, Request
for Forex/Travel card, Request for attested statement, Request for issuance of Solvency
Certificate, Request for Atal Pension Yojna, Request for e-mail statement, Request for monthly
e-mail statement, Request for change of branch, Request for cash delivery, Request for cash
pickup, Request for cheque pickup, Request for DD delivery, Request for DD pickup, Request
for deregistration of printed statement, Request for deactivate passbook, Locker availability,
Request TIFD Booklet, Request for Digital Certificate, Request for Jewel Loan, Request for door
step banking, Request for mutual fund

48
INTERNET BANKING
 Facilities Available
 Remittances
➢ Add beneficiary/Payee, View payee, Remove payee (for IOB A/c and
other Bank A/cs), Sync MB Payees
➢ Intra bank fund transfer Inter bank fund transfer – NEFT, RTGS and IMPS

➢ Bulk payments (Using CSV file)

➢ Favourite Transfer

➢ View transactions

➢ IMPS

➢ View Scheduled.

➢ PPF payments 24*7

➢ Utility payments

➢ Tax payments - Direct Tax, Indirect Tax, GST, Various state’s VAT

➢ Custom duty payment

➢ IOB credit card payments

➢ BBPS- Bharat Bill Payment System

➢ College fee payments

49
INTERNET BANKING
 Facilities Available
• Profile related:
• Profile Details – personal details, Add profile photo, remove profile photo

• View account details like CIF

• Add/View Aadhaar

• Change password

• Change PIN

• Change daily limit

• Change fund transfer- Activate/Deactivate

• Set Favourite Account

• Add accounts

• Activate & Deactivate Accounts

• Forgot PIN / Generate PIN

• Forgot Mobile Banking MPIN.

• Security restrictions- Set IP restrictions

• Fatca Declaration for Individual Account

• Fatca Declaration for Entity

 Bills Payment( BBPS)

50
INTERNET BANKING
 Facilities Available
 Tax Payments
➢ View Direct/Indirect taxes ( Pending Txns for corporates)
➢ View Shipping Bill
➢ View custom duty/ Gst/ VAT / transport (GTA) ( Pending Txns for corporates)
➢ View Registration(registration dept. stamps etc..)( Pending Txns for corporates)
➢ EPFO transaction view
➢ Register PAN for Income tax efilling login and login link
➢ View tax credit
➢ Income tax e-Filling login
• IOB cards management
➢ Credit card – Register, Payment, View schedule, Remove card
➢ Activate New Debit Card
➢ Debit card – Suspend Card
➢ Debit Card – Unblock Card
➢ Debit Card – Switch On/Off Channels
➢ Debit Card – Set/Modify Card Daily Limit (for Ecom, POS, ATM).
➢ Debit Card – Issue of new Card.
➢ Debit Card – Upgrade card.
➢ Debit Card – Reissue Lost / Damaged Card
➢ Iob Debit Card PIN – Set Green PIN, Change Debit Card PIN
➢ Prepaid card – Top-up, View Scheduled
➢ NCMC Card - NCMC Top-up

51
INTERNET BANKING
 Facilities Available
 Utility Payments/Receipts
➢ Bill Payments ( View)
➢ Sastra/PM relief Fund/ Puduchery EB payments
➢ PMJJBY, PMSBY( Subscribe/Closure/View policy details)
➢ IOB Suraksha online registration & Download certificate
➢ Sovereign Gold Scheme
➢ Govt Schemes( Apply SSY, Apply PPF and view/download the applications to submit in
branch along with proofs for opening)
➢ Pay/ Print TNEB HT
➢ Digi locker ( Apply/ access)
➢ IPO(ASBA)
➢ Apply for IPO
➢ View IPO
➢ Cancel IPO
➢ Profile registration.
➢ Profile Modification.
➢ Offers – personalized Marketing offers (multiple options),
➢ Instant Loans – Clean Loan, Vehicle Loan and Home Loan

52
INTERNET BANKING

Customer
Fund
Transfer
Limit -10
lakhs.

Above 10
Quick lakhs to 5
Transfer -Rs cores –
10000. Branch
permisison
Transaction
limits

FT New Above 5
payee after crore -
4 hours Max Treasury
Rs. 50000 CO
for 20 hours. Permission

53
MOBILE BANKING

IOB Mobile App Download

SIM Binding

• App Passcode
• Fingerprint login

Self Activation

• MPIN using Debit Card

Branch Channel Approval

54
MOBILE BANKING
 Customer can register IOB MOBILE as per their convenience via available channels given below,
 Option 1 – SELF-REGISTRATION:
 Customer download – IOB MOBILE from play store/ IOS store and can register by themselves provided Mobile
number registered in account number should be available in the device.
 Self- registration can be done by selecting registered SIM – SIM verification will happen for that SIM should be
recharged with SMS pack - providing mobile number registered account no – creating 6-digit passcode and
application ready to start.
 Option 2 – BRANCH CHANNEL
 Customer can approach branch and by submitting a mobile banking application form. New customers have to download the
application from www.iob.in ->mobile banking ->Application link. Branch has to make an entry in Mobile Banking Registration
through HMBREG menu in CBS and the same has to be approved by another officer in the branch

 Customer will receive a registration conformation and MPIN through message.

 If customer facing any Issue in SIM Binding/SIM Verification (getting generic message failure etc.)
during mobile banking activation kindly check the following:
 Check the wifi/mobile data network, SMS balance (send test sms to some mobile no),outgoing validity and storage/RAM space .
 In Phone Settings-> SIM Cards management, Calls and SMS messages by default set to CBS Registered mobile no/SIM OR disable
non Bank registered SIM for SIM binding process. Then close the App, clear the cache and restart.

 Same mobile no should not be registered in multiple Retail/Individual CIF ID’s of particular customer for
self registration in Mobile Banking. If same mobile number is available in multiple Retail customer ids for
particular customer then registration will be allowed through branch channel only.
 Passcode used for old mobile banking application can be used for new appliction to login. If customer
forgot passcode used for old app, then customer can set new 6 digit passcode by opting “Forgot app
passcode”.
 6 digit Login passcode is used to login in to application and and 6 digit mpin is used to authorise
transactions.
 Mpin, Passcode should not be same. New Mpin/Passcode should not match with 3 recently used.
Sequential or repetitive numbers are not allowed (eg: 111111,123456,654321,555777 etc.). No digit
should be repeated more than twice in sequence(eg. 222579). No two digits together should be
repeated more than twice in sequence(eg. 232323)

55
MOBILE BANKING
 Who shall NOT avail the facility?
 if the account is operated “JOINTLY‟
 if the account holder is a minor
 If Mode of operation is not available or the account is operated by Power of attorney
holder/guardian/mandate holder.
 If the account is Inoperative/Dormant
 SB Small
 Mobile banking and BHIM UPI facility are currently not available for International mobile nos, SB NRE/NRO, CC
accounts except STAFF CC. Self-operated Proprietary CA can avail the facility.
 Corporate concerns are currently not eligible for availing Mobile Banking Services.
 Note: Proprietary concerns are treated as individuals and can avail MB. In the case of individuals (or
proprietary concerns) the mode of operation of the account should be ‘Single’ or ‘E or S’ or ‘Any One or
Survivor’ and Former or Survivor. In all the joint accounts only Primary account holder is eligible to register with
mobile number attached his customer id.
 If an account holder has more than one account, he/she can register all the accounts under the
same login-id provided the primary customer id is same. However an account holder cannot add
accounts that are not of the same customer id.
 TO SET MPIN :- Settings – Manage mPIN – generate mpin - customer need to provide active ATM
card credentials (16-digit card no., Expiry month/year and ATM pin) – set 6 digit mPIN (passcode
and mPIN should not be same).
 MPIN can be generated through branch(Internet Banking Branch Admin or HMBREG) if customer
don’t have ATM card.
 MMID is a 7 digit number to be generated to send and receive funds by IMPS. If you have more
than one account number then you have to generate separate MMID for each account.
 After adding Payee, Cooling period of 4 hours is available for further Fund transfer maximum up
to Rs.50000 for next 20 hours. This is not applicable for self-account transfer and Deposit/RD
payments
 Payee wise one Time Quick Fund Transfer maximum up to Rs.10000/-is allowed without adding
Payee.
56
MOBILE BANKING
Others
Bharat Bill
SERVICES • Insurance,
Payment
OFFERED IN • Cheque Services
System- • Request to Bank
MB APP
PAYMENTS • NPS, Agri

Deposits & Door Step

Home page
Loans banking

Profile of
customer
UPI IPO (ASBA)
•My Accounts
•mPassbook

Funds Transfer
• With In Bank
•IMPS (Immediate Card Services Voice assistance
Payment Service)
•NEFT
57
MOBILE BANKING
 SERVICES OFFERED IN MOBILE BANKING APP
 The following services are currently offered by Mobile Banking Application:
 Profile of customer
 Home page
 Displaying customer name and last login details
 Default account and balance displaying
 Set default account
 View Mobile banking transactions
 View and download statements(CASA and loan accounts)
 Search option
 Automated assistance during First time Login
 My Accounts
 Account Summary and listing operative/Deposit and Loan balance
 View details for all accounts(Operative/Deposit/Loan)-One customer view
 View Basic account details (Account Status, Account type, IFSC code, Nominee , Branch address, Funds in clearing ,Lien
amount ,Check Average Balance)
 View and download customized Statement (Last one month/three months/six months / date wise and providing no of
transactions )
 Transfer fund and Pay fills option from account section.
 View Mini statement
 Deposit overview
 Loan EMI details, Statement and Loan overview
 Generate MMID/View MMID
 Funds Transfer
 Funds Transfer Quick Pay and Register Pay
 Transfer funds from SB, CD or CC account to another SB, CD, RD, Loan and OD within their own accounts or within the bank.
 Mobile to Mobile transfer by beneficiary mobile number for IOB Mobile banking registered customers
 NEFT-Transfer of funds to accounts with other banks through NEFT mechanism.
 Manage Payees (Addition, deletion and search) and Payee sync from Net Banking
 Repeat fund transfer through recent transfer list
 Set Fund Transfer Limit
 Set Favourite transaction
 Set standing instructions and schedule future fund transfer

58
MOBILE BANKING
 SERVICES OFFERED IN MOBILE BANKING APP
 IMPS (Immediate Payment Service)
 Funds Transfer using Mobile number and MMID
 Funds Transfer using IFSC Code & Account number
 IMPS beneficiary registration.
 MMID Generation
 Card Services:
 Manage Debit Card Channel and Limit
 Switch ON/OFF Channels(ATM/POS/ECOM)
 Channel wise Set /Modify transaction limit
 Debit Card Hot listing
 Debit card – Apply/replace/upgrade
 Debit card – PIN set and Change PIN
 Credit card services:
 Credit card – payment and cards can be added for further payment
 IOB credit card portal Link
 Apply for IOB credit card Link
 Deposits & Loans
 Deposit Opening/Closure&Pre-closure/Renewal
 Deposit Account balance View/Receipt download
 Deposit calculator
 Deposit enquiry
 Submit Form 15G/H
 Loan Balance View/Statement view and download
 Bharat Bill Payment System-PAYMENTS
 Bill Payment – Adhoc and Registered Bill Payment
 Recharge
 Utility payment (accessible for 22 different utilities and complaint option along with status view
available),Favourites, Set Limit ,history, complaints.

59
MOBILE BANKING
 SERVICES OFFERED IN MOBILE BANKING APP
 mPassbook
 Ability to view statements/transaction history for up to past 3 years

 Ability to view statements/transaction history that have no constraint on max period in one

statement (e.g. more than 1 year of transactions can be viewed in a single statement)
 Ability to save the transaction summary (in different formats - PDF/ XLS/ TXT)

 Links for quick download of statements (last month/3 months/6 months/year)

calendar/financial year
 Transaction summary view to be available both as list and calendar

 Insurance
 Social Security Scheme –Enrolment
 PMJJBY Insurance

 PMSBY Insurance

 Cheque Services
 Cheque Book Request
 Stop Cheque payment
 Cheque Status
 Positive Pay system
 Voice assistance -
 Chat bot facility available for 4 options (view balance/ mini statement / last transactions/ Issue
Chequebook)
 Request to Bank
 Apply for locker , Mutual fund, Email Statement/attested Bank statement, Attested Bank Statement
 Issuance of Solvency certificate, Atal Pension Yojana, Forex/Travel card, Form 16A Submission of
Pensioner’s
 Apply for DEMAT Account, Insurance, NPS open, Tax payments, TDS/Interest Certificates Generation

60
MOBILE BANKING
 SERVICES OFFERED IN MOBILE BANKING APP
 IPO related services
 Profile Registration/ Modification

 Apply/ View IPO

 Cancel IPO

 NPS
 Registration, Contribution SIP

 Settings
 Change Login Passcode : Customer can change his application passcode using this option

 Enable/Disable Fund Transfer

 Set Transactions limit

 Enable /Disable Biometric authentication instead of App passcode

 Manage MPIN(Change/Forgot )

 Deregistration

 Enable/Disable Biometric

 Language preference: Eleven Languages are available currently i.e English, Bengali, Gujarati,
Hindi, Kannada, Malayalam, Marathi, Odia, Punjabi, Tamil and Telugu.
 Receive Monthly Statement on Email

 More services
 Aadhaar Services,
 ATM/Branch Locator
 FAQs, Feedback, complaints
 EMI calculator,
 Loan services, IOB credit card portal and apply for credit card
 Holiday list, Offer and Products,
 Digi locker
 Door step Banking
 Agri – mandi prices, weather updates, KCC and other LOS loan links
 Government Schemes – Apply and download application – PPF, SSY and GMS also available

61
MOBILE BANKING
 FUND TRANSFER LIMIT

Fund Transfer Type Max Amount Max Amount Per Mini Amount per Max TxnCount per
Per Day (Rs) Txn (Rs) Txn (Rs) day
Transfer within Self
Accounts, Deposits&RD 500000 500000 5 25

3rt Party transfer

withinIOB 500000 500000 5 25

IMPS 500000 500000 5 25

Bill Payment 50000 25000 5 25
NEFT 500000 500000 5 25

 Customer enters the MPIN wrong and user gets blocked - automatically unblocked next day on
entering correct MPIN.
 Any change in Mobile number, branch has to de-register mobile banking first through modification/de-
registration menu in HMBREG then change the Mobile number in Finacle and register mobile banking
afresh. If registered mobile number in Finacle is the latest one but customer is using mobile banking for
his/her registered accounts with old mobile no ( Different mobile number on Mobile Banking Server)
then branch first Go to branch products-CBS ATM helpdesk-Mobile Banking-change mobile and will be
resolved within 24 hrs. After that do reset MPIN in branch
 Deregistering Mobile Banking Services - The Mobile banking services offered can be
terminated/unsubscribed/Withdrawn upon a request from the customer. This option will be applicable
in cases like when the customer does not require this facility or when accounts are closed and such
other cases. The bank may also terminate the facility if it feels that the customer is misusing the facility.
In such cases, the branch has to unsubscribe the registration for the account in the branch system
using HMBREG Menu and modifying the Registration status.
 PSB Alliance Doorstep Banking Service is a facility through which customers can avail major banking
Financial and Non-financial transaction services at their doorstep. To avail Doorstep services option
available in MB – more tab at bottom right – doorstep banking.

62
MOBILE BANKING
 Other Important Features/FAQs
 Internet Banking Payee Can be synchronized
 PPF, SSY can be applied under Others-> Government schemes
 IPO application can be closed before BID closure
 Invalid phone number/international mobile number - Please
check, 'preferred Contact No type ' and 'Type' should be
cellphone in MRCR -Phone and Email tab and Valid 10 digit
domestic number is allowed.
 No Accounts under this CIF ID/All eligible Accounts already
registered please check the modify option - Mode of operation
plz check in HACI and modify in HACM
 Verification failed error – retry after some time
 Customer Mobile number exists in multiple CIF ids - Same mobile
no is not allowed in multiple Retail CIF IDS
 What if Deposit opening is not allowed for customer in Mobile
banking with error as “General error”- Kindly check CIF ID of the
customer is properly updated and any CIF ID verification is
pending for the particular customer.
 What if loan account are not getting displayed in Mobile
banking application of customer? – Mode of operation in the
Loan account may be empty

63
BHIM IOB UPI – UNIFIED PAYMENT INTERFACE
 UPI provides a single interface that allows seamless interoperability between different
payment systems. UPI works on the concept of a virtual payment address. Bank
accounts can be mapped to a unique virtual payment address.
 Multiple accounts of same or different banks can be linked to same VPA, providing
interoperability and makes one-click payment possible
 Funds transfer can be initiated by either the payee or the payer. Provides both Person
to Person (P2P) and Person to Merchant (P2M) payments
 UPI eliminates the need for exchanging sensitive information, such as bank account
numbers, onetime passwords or phone numbers during a financial transaction. It is an
Game-changing electronic payment system that will facilitate the transition to a near
cashless economy
 Who shall avail the service ?
 The Facility will be available to bank’s existing Customers having a satisfactory Savings/ Current
accounts/Secured Overdraft accounts which are complied with full KYC norms with the Indian Overseas
Bank.
 Only Former account holder is eligible in case of F OR S operated accounts.
 Accounts operated by jointly by all/ operated by guardian /mandate holder/POA holder/ any two
partners/directors will not be allowed/eligible for UPI facility.
 Eligible Secured overdraft accounts are CCSTAFF, CCDEP, CCSUV and CCLIC.
 Only Karta KA (HUF – BY KARTA), customer id to be allowed for HUF accounts
 Inoperative and inactive accounts are not eligible.
 Current accounts with individual category and Proprietorship concern are allowed for UPI Registration.
 If same mobile number is available in multiple customer ids then registration will not be allowed as per
existing NPCI guidelines.
 Guardian of minor account are eligible for UPI registration in case same mobile number is attached to
both minor and guardian.
 Virtual Payment Address (VPA)" or “UPI ID” is a unique id like 98xxxxxx78@iob with the
registered mobile number in the account as default or like uniqueid@iob where unique
id can be chosen by the customer. VPA should contain only a-z, A-Z, 0-9, .(dot)and –
(hyphen).Minimum length of VPA is 3 characters and maximum length is 30 characters.

64
BHIM IOB UPI
 Corporate concerns are currently not eligible for availing UPI Service directly through the application but
can contact their account maintaining branch for on boarding in UPI and generate QR code and VPA
to accept payments from their customers. The Customer should have a unique Customer id and unique
mobile number
 Individual/Proprietary concerns can register themselves in BHIM IOB UPI application and can create VPA
and generate static QR code which can used for accepting payments(credits alone). Street vendors are
on boarded in UPI and static QR generated during disbursement of PMSVANidhi loan applications.
Payments will be reflected in the merchant account on real-time basis.
 Transaction Limits
Fund Transfer Limit:
UPI Application Minimum per Maximum per Daily Limit
transaction limit transactionlimit
BHIM IOB UPI 1/- 50,000/- 1,00,000/-
*99# 1/- 5000/- 5000/-
QR code (intent based /offline) 1/- 5,00,000/- 5,00,000/-
P2M(capital market, collection,
Insurance, FIR, Pre-approved disbursement) 1/- 2,00,000/- 2,00,000/-

Transaction frequency :
 No: of P2P transactions per day-10 and P2M no limit
 Collect request for P2P has been capped at Rs.2000 per request with maximum no of 5 requests per day. Customer
can set Max of 45 days time limit.
New Users:
 Rs 5000/- per day (24 hrs) for first day after first successful transaction & including first transaction.
 UPI 2.0 the newly introduced facilities are Linking of Overdraft Accounts –Secured and Un-secured OD, One time
Mandate creation, ASBA facility
 e-RUPI (Prepaid Voucher) The users of this seamless one-time payment mechanism will be able to redeem the
voucher without a card by digital payments app at the merchants accepting e-RUPI. Maximum limit of each e-
RUPI shall not exceed Rs.10,000 .
 Account-holders of the participating banks (Our Bank is one of the Six participating Banks) and Financial institutions
in India and Singapore can do the cross-border remittance transactions through the UPI-PayNow interlinkage.

65
BHIM AADHAAR IOB
 BHIM Aadhaar is the common mobile app published and managed by National
Payments Corporation of India (NPCI) for any merchant associated with any acquiring
bank on BHIM Aadhaar Pay service to allow the merchant to accept payment from a
customer of any bank by authenticating the customer’s biometrics (currently only
fingerprints) directly from customer’s bank account and receive the sale proceeds
instantaneously into merchant’s own bank account.
 BHIM Aadhaar IOB is our bank’s mobile merchant app for Aadhaar Pay.
 Merchants should have an account (SB/CD/CC) in IOB.
 Purchaser or Merchant’s customer should have an Aadhaar seeded account.
 Merchant must have an Android mobile with the BHIM Aadhaar app and a certified
biometric scanner(FM220U) attached with the mobile phone on the USB port with OTG
support.
 Branch has to onboard merchant in Adhaar pay iob merchant onboarding portal in iob
online
 As a first time user of Merchant pay payment app, merchant has to complete the
device verification process.
 For First time login merchant has to set MPIN using AADHAAR number and Biometric
authentication in the application. Subsequent login already generated MPIN can be
used
 If customer has multiple accounts linked to my Aadhaar number in bank. Then It will
work with only the primary account associated with the Aadhaar.
 currently the BHIM Aadhaar Pay service is available only in India.

66
BHIM AADHAAR IOB
 Bhim Aadhaar IOB is the mobile app for merchant having CDCC/SB accounts with us to
accept payment from a customer of any bank by authenticating the customer’s
biometrics directly from UIDAI and receive the sale proceeds instantaneously into
merchant’s own bank account.
 the app will not work on rooted phones.
 The transaction will be interoperable in nature allowing any bank customer to transact
on BHIM Aadhaar.
 Merchant themselves can add, delete or block any operator for Bhim Aadhaar App
without branch intervention.
 Enterprise merchants(having multiple accounts for credits) will also be supported in this
updated App.
 Registered Biometric Devices only will be supported as per UIDAI guidelines.
 Transaction Limit –
 Minimum per transaction limit: Rs 5/-
 Maximum Per transaction limit : Rs 10,000/-
 Maximum per day per customer/Aadhaar in our bank : Rs 25000/-
 Maximum per month per customer/Aadhaar in our bank : Rs 1,00,000/-

 MDR Charges - MDR of 0.25% per transaction above Rs 2,000/- will be applicable for
BHIM Aadhaar Pay.
 Certified Biometric Scanner / Biometric Device (Startek - FM220U) will be provided by
Bank free of charge.

67
IOB SAHAYAK
 This is an Android application as a part of NPA Management System for ZOs, ROs, and
Branches Only Staff of our bank with valid CHRIS Login
 The app shall be downloaded from the link https://www.iobnet.co.in/Sahayak.html
 Staff can be able to login using their CHRIS credentials.
 Facilities Available
 NPA Recovery
 Security Visit
 Stock Inspection Report
 Circular
 Reminder
 NPA War
 Leave Balance Details

 NPA Recovery - Follow up measure of NPA recovery by our staff members.

 Security Visit - Track record of security visit made by the staff members can be entered
in our mobile application.
 Stock Inspection - Staffs can feed the stock inspection details in the mobile application
and the reports for the same can be viewed later.
 Lead Generation - New leads to be updated with the details, new lead name, mobile
number, address, requirement of service.

68
IOB – FASTAG
 FASTag is a RFID (Radio frequency identification) passive tag used for making toll
payments directly from the customers linked prepaid or savings/current account. It is
affixed on the windscreen of the vehicle and enables customer to drive through toll
plazas, without stopping for any toll payments. The toll fare is directly deducted from the
FASTag wallet or linked account of the customer. If a FASTag is linked to the prepaid
account, then it needs to be recharged as per usage of the customer.This service is
available to all IOB customers having a valid operative account.
 Our Bank has entered into an agreement with NPCI and has been authorized to issue
the FASTag RFID stickers.
 Individuals who have account with us can register for FASTag through branch or Self-
onboarding through FASTag portal (https://iobfastag.gitechnology.in ).
 Individuals who does not have account with us should come to branch and has to
submit full KYC details along with Application.
 FASTag has unlimited validity. The same FASTag can be used till the tag is read by the
reader and not tampered with.
 Along with the application Registration Certificate (RC) of the vehicle, Passport size
photograph of the vehicle owner, Address proof and ID proof.
 benefits to our Bank in issuing FASTag
 Bank will earn commission income on all toll transactions done by IOB FASTags.
 We can retain our customers who are approaching other Banks for the FASTag
facility.
 Bank need not to pay any interest on the balances maintained in the wallets and
kept as security deposits.
 Online wallet recharges and toll transactions will improve our digital transactions
count.

69
IOB – FASTAG
 To register and manage Customers branch can access FASTag portal available in IOB Online > Branch
Products
 Customer can do Self On-boarding through web portal https://iobfastag.gitechnology.in and enters
accounts number and mobile number.
 Individuals who have account with us can register for FASTag through branch or Self-onboarding
through FASTag portal (https://iobfastag.gitechnology.in ).
 For non-customers, self-onboarding is not available. For registration, they have to approach branch
only.
 Wallet will be created at the time of onboarding the customer. Customer can recharge their wallet/tag
through below given channels
 Through Customer portal
 Through Branch
 Through Mobile Banking & Internet Banking
 Through UPI (UPI 'd structure should be netc.vehicleregistrationnumber@tag issuer handle (E.g.
netc.MH04SA 1234@iob).
 FASTag auto top-up can be enabled by the customer
 Minimum recharge amount in digital channels is Rs.200/-.
 Customer can be issued multiple tags for different vehicle, and it will get linked to same wallet.
 Existing FASTag on-boarded customer himself can register request for additional tag from the customer
portal.
 MORTH/NHAI/IHMCL has launched 1033 helpline number for addressing NETC FASTag complaints at toll
plaza level.
 Customer will have option to surrender the tag and take back the security deposit and wallet balance.
Customer has to visit the branch and surrender the tag. When branch surrender the tag through branch
portal, tag will be deactivated and after 7days, deposit amount and wallet balance will get debited
and credited to branch FASTag pool account by adjusting previous dues if any. Branch has to debit the
pool account and credit customer’s account as given by the customer at the time of surrendering the
tag.

70
IOB – FASTAG
 User manuals for branch & customer and Application for FASTag available at IOB Online
> CO Depts > Govt. A/cs > FASTag.
 FASTag circular No.23 of 2021-22 dtd.28.09.2021 issued by Govt A/cs Department.
 Total four Portals are available for FASTag Product.

Branch Portal To issue, recharge & for reports Link available at IOB
Online > BranchProducts
CustomerPortal Customer self-onboarding. Link available in our official website
Customer can manage his registered https://www.iob.in
tag/wallet from this portal
RO Portal To manage branch logins And reports Under development.
CO Portal Super Admin access Link available in CO Portal.

 Wallet limits: Per month limit should not exceed Rs.50,000/- , Maximum Balance should
not exceed Rs. 1,00,000/-at any point of time.
 Fees and Charges:
 FASTag Sticker cost of Rs.100/- + 18(GST)
 Security Deposit as per the class of vehicles. Present Security deposit details

71
 IOB PAY
 IOB PAY is an integrated payment system provided to the merchants through Payment
Gateways/Aggregators which offer merchants to collect payments from their customers.
IOB Pay was launched in year 2017 and since then IOB has onboarded 640+ merchants
(350+ Standalone and 250+ in API module). It is an easy and effective way of collecting
payments by the merchants
 Product is targeted towards enabling online fees collection of schools & colleges Hosting of
Merchants/schools/college sites in our site for enabling payment of bills/fee through our
Payment Gateway for merchants who cannot setup their own sites Faster On-Boarding of
merchants Can be provided to schools & colleges with / without websites also.
 Zero integration cost and Zero Annual Maintenance Charges (AMC).
 Type of category of merchants under IOB Pay
 Government Services
 Educational Institutions
 Charitable Institutions( Donations)
 Commercial Services
 The merchants who cannot setup their own sites the product can be accessed from our
iobnet.co.in -> IOB Pay
1. Select the select category and merchant , Select Payment {Type of Fee}
2. Give the mandatory details as required by the merchant or the registration no’s so that the details
of the payee can be automatically fetched
3. Choose the Payment Option
4. Will direct you to your corresponding payment option and make the payment
5. Print Receipt will be generated after successful payment
 Merchants need not have their own website for collecting payments online. IOB Pay will
collect the payment on merchant’s behalf and settle the amount with merchant settlement
accounts on T + 1 Working day basis or as agreed at the time of onboarding.

72
 IOB PAY
 Payment history also can be accessed from the IOB pay page
 Merchant can download reports (transaction reports & settlement reports) at their
end by using Internet Banking Corporate login/ Dashboard provided by
Bank/aggregator. Provision is there of sending settlement reports on register e mail
address as and when generated. Funds will be settled to the settlement account of
the institution as per the settlement cycle agreed at the time of integration.
 The below mentioned payment modes are supported currently for online payment.
 IOB Internet Banking
 Other Bank Internet Banking
 Debit Cards (VISA/Master/Maestro/Rupay)
 Credit Cards (VISA/Master/Rupay/Diner/Amex)
 UPI Payments
 E- Wallets
 All the payment modes will be enabled through IOB Payment gateway or through third
party aggregator. Aggregator and MDR charges will vary as per the type of merchants and
mode/channel of payments respectively. MDR charges will be borne by merchants and/or
customers as per the regulatory guidelines.
 Merchant and Branch can download reports at their end by using Internet Banking
Corporate login under Utility Payment/Receipt section
(https://iobnet.co.in/ibanking/corplogin.do -> Utility Payment/Receipts-> IOB Pay Report).
 Transaction report will be updated on real time basis.
 Collected funds will be settled to merchant account as per settlement cycle. At present all
collected funds are settling to the settlement accounts on T + 2 Working day basis.
 Per Transaction Charges: Half yearly Aggregator Transaction/MDR charges will be intimated
through in IOBONLINE (IOBONLINE – CO DEPTS – Digital Banking Department)
73
IOB PAY
IOB Pay Aggregator Transaction Charges Valid upto 30.06.2022 or till Further Information,
whichever is earlier:
Payment Modes EducationalInstitutes E-Commerce Charitable Government
Institutions Institutions
Internet Banking
SBI Rs.20/- 1.10% 1.20% Rs.10/-
AXIS Rs.20/- 1.10% 1.10% Rs.10/-
HDFC Rs.20/- 1.70% 1.70% Rs.12/-
ICICI Rs.20/- 1.65% 1.65% Rs.12/-
YES Rs.12/- 1.10% 1.10% Rs.12/-
KOTAK Rs.12/- 1.10% 1.10% Rs.10/-
Others Rs.12/- 1.00% 1.10% Rs.10/-
Debit Card
Upto Rs.2000/- 0.40% Upto Rs.2000/- Upto Rs.2000/- Upto Rs.2000/-
VISA/MASTER 0.40% 0.40% 0.40%
/ MAESTROS Above Rs.2000/- to Above Rs.2000/- Above Rs.2000/- AboveRs.2000/-
upto Rs.3500/- Rs. 18/- 0.90% 0.90% Rs.18/- per txn
per txn. Above
Rs.3500/- -Rs. 30/- per
txn
RUPAY NIL NIL NIL NIL
Credit Card
RUPAY/VISA/MAST
ER 0.90% 1.85% 1.60% 0.90%
AMEX 1.00% 2.60% 2.60% 2.70%
DINERS 1.00% 2.20% 2.20% 2.00%
UPI NIL NIL NIL NIL

74
 CARDS
 Cards can be classified on the basis of their issuance, usage
and payment by the card holder. There are four types of cards
(a) debit, (b) credit, (c) prepaid, and (d) electronic.
 Debit cards are issued by banks and are linked to a bank
account. Credit cards are generally issued by banks and a
couple of non-banks, but can also be issued by other
approved entities. Prepaid cards are issued by banks / non-
banks against the value paid in advance by the cardholder
and stored in such cards which can be issued in the form of
cards or wallets
 A card can be dipped (Chip based card), tapped
(Contactless Near Field Communication {NFC} Card) or swiped
(Magnetic-Stripe card) for various payments.
 The EMV Chip & PIN card stores card data in a chip, while the
data in magnetic stripe card is stored on the magnetic stripe
present on the card. In a Contactless NFC card, the card is
read by keeping the card near the card reader. The EMV Chip
& PIN cards and Contactless NFC cards are considered to be
safer when compared to Magnetic Stripe cards
75
 CARDS
 A CP transaction is a card transaction that is carried out through
physical presence of card at the point of transaction. It is also known
as face-to-face or a proximity payment transaction. An example is a
transaction carried out at an ATM or a PoS terminal. A CNP transaction
does not require the card to be physically presented at the point of
transaction. It is also called as a remote transaction. An example is an
online transaction or a mobile banking transaction using the card.
 All CP and CNP transactions on cards issued in India are secured with
AFA. This AFA can be in any form and few commonly used forms are
PIN, dynamic one-time password (OTP), static code, etc. The
requirement of AFA is not mandatory for transactions where outflow of
foreign exchange is contemplated. Similarly, in case of CP
transactions (except ATM transactions) using NFC contactless
technology, transactions for a maximum value of ₹5,000 per
transaction are allowed to be undertaken without AFA requirement,
subject to adherence to EMV standards.
 The limits on cash withdrawal at ATMs and for purchase of goods and
services are decided by the card issuer. Within these limits, the card
holder may set and modify transaction limits for various uses like
domestic, international, PoS, ATMs, online transactions, contactless
transactions, etc. Cash withdrawal using debit cards and full-KYC
prepaid cards at PoS terminals has been allowed by Reserve Bank of
India (RBI) whereby, a maximum of ₹2,000 can be withdrawn per
transaction within an overall monthly limit of ₹10,000.
76
 TOKENISATION – CARD TRANSACTIONS
 Tokenisation refers to replacement of actual card details with an
alternate code called the “token”, which shall be unique for a
combination of card, token requestor (i.e. the entity which accepts
request from the customer for tokenisation of a card and passes it
on to the card network to issue a corresponding token) and device
(referred hereafter as “identified device”).
 Conversion of the token back to actual card details is known as de-
tokenisation.
 A tokenised card transaction is considered safer as the actual card
details are not shared with the merchant during transaction
processing
 The card holder can get the card tokenised by initiating a request
on the app provided by the token requestor. The token requestor will
forward the request to the card network which, with the consent of
the card issuer, will issue a token corresponding to the combination
of the card, the token requestor, and the device.
 The customer need not pay any charges for availing this service.
 Tokenisation has been allowed through mobile phones and / or
tablets for all use cases / channels (e.g., contactless card
transactions, payments through QR codes, apps etc.)
 The circular issued by RBI on tokenisation is available on the RBI website at the
path https://www.rbi.org.in/scripts/FS_Notification.aspx?Id=11449&fn=9&Mode=0.
77
 E-MANDATE GUIDELINES
 The e-mandate arrangement on cards shall be only for recurring transactions and not for
a ‘once-only’ payment.
 A cardholder desirous of opting for e-mandate facility on card shall undertake a one-
time registration process, with AFA validation by the issuer. An e-mandate on card for
recurring transactions shall be registered only after successful AFA validation, in addition
to the normal process required by the issuer. If the first transaction is being performed
along with the registration of e-mandate, then AFA validation may be combined.
 Registration shall be completed only after all requisite information is obtained by the
issuer, including the validity period of the e-mandate and other audit trail related
requirements. The facility to modify the validity period of the e-mandate at a later stage,
if required, shall also has to be provided for.
 During the registration process, the cardholder shall be given an option to provide the e-
mandate for either a pre-specified fixed value of recurring transaction or for a variable
value of the recurring transaction; in the case of the latter, the cardholder shall clearly
specify the maximum value of recurring transactions, subject to the overall cap fixed by
the RBI (currently ₹ 15,000/- per transaction)
 Any modification in existing e-mandate shall entail AFA validation by the issuer.
 As a risk mitigant and customer facilitation measure, the issuer shall send a pre-
transaction notification to the cardholder, at least 24 hours prior to the actual charge /
debit to the card.
 The pre-transaction notification shall, at the minimum, inform the cardholder about the
name of the merchant, transaction amount, date / time of debit, reference number of
transaction/ e-mandate, reason for debit, i.e., e-mandate registered by the cardholder.
 The issuer shall provide the cardholder an online facility to withdraw any e-mandate at
any point of time following which no further recurring transactions shall be allowed for the
withdrawn e-mandate.
 The withdrawal of any e-mandate by the cardholder shall entail AFA validation by the
issuer.

78
ENHANCING SECURITY OF CARD TRANSACTIONS

•At the time of issue / re-issue, all cards (physical and

virtual) shall be enabled for use only at contact based
points of usage [viz. ATMs and Point of Sale (PoS)
Issue devices] within India

•Facility to switch on / off and set / modify transaction limits

(within the overall card limit, if any, set by the issuer) for all
types of transactions – domestic and international, at PoS /
ATMs / online transactions / contactless transactions, etc.;

Options •The above facility on a 24x7 basis through multiple channels

- mobile application / internet banking / ATMs / Interactive
Voice Response (IVR); this may also be offered at branches /
offices;
•Alerts / information / status, etc., through SMS / e-mail, as
and when there is any change in status of the card

79
USAGE OF ATMS – FREE ATM TRANSACTIONS
Banks were mandated not to charge any fees to their savings bank account
customers, THREE transactions (inclusive of both financial and non-
financial) would be free of charge if carried out at other bank ATMs located in
six metro centres,viz., Mumbai, New Delhi, Chennai, Kolkata, Bengaluru and
Hyderabad.

Accordingly, if transactions are carried out at both the six metro centres and
other locations, the total number of transactions (inclusive of both financial
and non-financial) free of charge at other bank ATMs would continue to
remain at FIVE. The charge to our customer beyond Free no of txns is Rs. 21/-
plus applicable taxes

Transactions which fail on account of technical reasons like hardware,

software, communication issues; non-availability of currency notes in the
ATM; and other declines ascribable directly / wholly to the bank / service
provider; invalid PIN / validations; etc., shall not be counted as valid ATM
transactions for the customer.

Non-cash withdrawal transactions (such as balance enquiry, cheque book

request, payment of taxes, funds transfer, etc.), which constitute ‘on-us’
transactions (i.e., when a card is used at an ATM of the bank which has
issued the card) shall also not be part of the number of free ATM
transactions

80
USAGE OF ATMS – FREE ATM TRANSACTIONS

Bank will levy service charges on all ONUS ATM transactions beyond the
threshold limit as below:

Customers shall be permitted to do 5 free ONUS transactions in all our card

based ATMs/CRs (inclusive of Withdrawal, Non- Financial transactions)

Service Charge at the rate of Rs. 10/- plus taxes per financial transactions in
our ATMs/CRs (ONUS) shall be levied for all card-based
withdrawals/deposits beyond 5 free transactions for ONUS transactions.
Service Charge at the rate of Rs. 5/- plus taxes per non-financial
transactions in our ATMs/CRs beyond 5 free transactions shall be levied for
ONUS transactions.

Staff and Ex-staff are exempted from the aforesaid charges. The revised
charges shall be effective w.e.f 24.11 .2022.

81
CREDIT CARD
 Our Bank had launched our own credit cards in affiliation with Visa International with effect from
01.04.2006. Our credit card is a global card, valid not only in India and Nepal, but also throughout
the world. The card will be accepted at over 1.18 lakh outlets in India and over 130 lakh outlets
worldwide. The facility to draw cash using the card is available at any of the IOB ATM’s and all
the ATM that display VISA logo.
 Our credit cards are affiliated to VISA International.
 Classic Cards: The cards issued with the limit slabs of Rs.10000/-, Rs.25000/-, and Rs.50000/-
 Gold Cards: The cards issued with the limits of Rs.60000/- and above and up to Rs.500000/- (maximum credit limit
 The limits are to be fixed on the basis of income as follows
Gross monthly income(Rs) Credit limit(Rs)
Rs.5000 -less than Rs.10000 Rs.10000
Rs.10000 – less than Rs.20000 Rs.25000
Rs.20000 – less than Rs.30000 Rs.50000
Rs.30000 – less than Rs.35000 Rs.60000
Rs.35000 – less than Rs.40000 Rs.75000
Rs.40000 – less than Rs.50000 Rs.100000
Rs.50000 – less than Rs.75000 Rs.150000
Rs.75000 – less than Rs.100000 Rs.200000
Rs.100000 – less than Rs.150000 Rs.300000
Rs.150000 - less than Rs.200000 Rs.400000
Rs.200000 and above Rs.500000

 For credit card against deposits, limit is fixed upto 90% of deposit value
 Branch should check the CIBIL report before sanction. CIBIL score should have a credit score of
650 or above. For CIBIL score less than 650, branch may sanction credit card limit against deposit
with 10% margin.

82
 CREDIT CARD
 Apart from the primary card, customers can take upto four Add-on cards.
 Billing and Payment Options: Each card would be billed once in a month. The details of the
billing cycle are given below.
 Billing cycle: 21st of a month to 20th of succeeding month
 Billing date: 20th of every month

 Pay by date: 10th or 09th of subsequent month.

 Card holders have the facility of flexible payment. In this option they have to pay only the
minimum due amount (instead of total due) as given in the monthly billing statement. The
card holders can exercise the option of Auto debit by remitting the credit card dues
through the auto debit system through which the minimum/ full amount due will be debited
to their accounts automatically on the due date
 Interest Rate
 For Staff: Linked to BPLR at present 14.0% p.a. (Annualized)
 For Customers: 30.0% p.a. (Annualized, at present)

 CEILINGS IN CARD TRANSACTIONS

 Cash withdrawal - 40% of Credit Limit( charge of Rs.22.50 per Rs.1000/- for each withdrawal).
 Purchase at Jewellery Shops - 50% of Credit Limit
 Per day cap on all transactions: 100% of credit limit

 Baggage Insurance, Purchase Protection, Personal Accident Insurance available

 Card is Valid for 3 years from the month of issue. All sanctioned and undelivered cards will
be ‘blocked’ after the expiry of three months from the month of issue of the credit card.
Such undelivered cards will be marked as closed on expiry of six months and instructions will
be given to the branches for destroying the cards.
 Green PIN facility has been introduced for Credit Card

83
 CREDIT CARD
 Insurance Benefits:
 IOB entered into an arrangement with The New India Assurance Co. Ltd. for covering the
credit card holders under various insurance facilities free of charges as given below:

Various insurance facilities

Sl.No Coverage Gold card Classic Card

1 Personal Accident - Death Due toa.Aircrash Rs 10.00 lacs Rs. 4.00 lacs
i.Self (Primary card holder)ii.Spouse Rs 2.00 lacs Rs 2.00 lacs

b.Road / Rail
i. Self (Primary card holder) Rs. 2.00 lacs Rs. 2.00 lacs
ii. Spouse Rs. 1.00 lacs Rs. 1.00 lacs
2 Baggage Insurance Rs.0.25 lacs Rs.0.25 lacs

3 Purchase Protection Rs.0.25 lacs Rs.0.25 lacs

 Customer portal introduced to view all transactions in real time and down load last three
month statements. For availing the facility, customer has to generate his user id and password
through first time login facility given the portal. Link for credit card customer portal available in
Internet banking, mobile banking and our bank web site (www.iob.in)
 Branches and Regional Office’s can view the credit card details in CBS through “HCCMS”
menu.
 Finacle menu for payment of credit card bill is HCCPM
 If cardholder notice any discrepancy or incorrect charge debited to their card account, they
should inform Credit Card Division immediately (not later than 7 days from the date of receipt
of Statement of Account).
 Repayment of the dues are appropriated to the card account in the following order:- Govt.
Fee ( Service Tax), Charges, Cash advance interest, Purchase Interest, Interest on other Fees /
charges, Cash advance fee, Other Fees, Purchase, Cash Advance

84
DEBIT CARDS
 The debit cards issued by Indian Overseas Bank come under 3 different brand names viz., VISA, RuPay and
Master.
 Debit cards can be issued to SB/CD/CC a/c holders but only in INDIVIDUAL NAMES. Cards can be issued to all
holders for SB accounts operated under “E or S” or “Anyone or Survivor” mandate. Card application should be
signed by both / all the Account holders
 Minimum age requirement for issuance of Debit card is 10 years. There is no maximum age Limit for issuance of
Debit card.
 Visually Impaired customers are eligible for card. However, the customer should have been explained in detail
by branch officials, about the general rules related to usage of cards.
 Illiterate customers are eligible for cards under PMJDY scheme and branch should explain the rules relating to
usage of card to the customer. However, the person applying for debit card should be numeric literate.
 In respect of Current Accounts, cards can be issued for the accounts held in individual names and for accounts
in the names of Proprietary Firms. However cards for proprietary firms will also be issued only in the name of the
proprietor and not in the name of the firm.
 Debit cards should not to be issued in OD accounts as per the recent guidelines of RBI.
 Add on cards can also be issued to Close Relatives (Parents/Spouse/Major Children) of the account holders.
 Any Association of persons like HUF, Societies, Clubs etc are not eligible for debit card.
 Partnership accounts, Limited Companies are not eligible for card facility.
 Debit cards are issued either as Insta Cards (without the name of the customer on the card) or with the name of
the customer embossed on the card.
 Name to be embossed on the card shall not exceed 20 characters and no special character is allowed on the
card. So, branches shall be careful in filling the ‘Name on Card’ field when applying the card in HDCMS,
because whatever name entered will be picked up for printing on the card by the system. Name on the card is
not picked up from CIF ID, hence name embossed on the card need not be exactly matching with the name as
per CIF of the customer. For Personalized cards branch to enter the details in CBS and Card will be generated by
C.O. with Green Pin. Cards will be delivered to Customer address except NRE/NRO/PMJDY accounts within 7-10
days. For NRE/NRO/PMJDY accounts cards will be dispatched to Branches only.
 Debit card can be applied through HRCIF menu also at the time of opening account itself.

85
DEBIT CARDS
Replacem Limits
Card Issuance
Variant Eligibility ent AMC
Type Charges ATM ECOM POS
charges
All SB Accounts, CDCC Accounts in the name of
Classic 150 250 250 30000 75000 75000
Individuals or Proprietary Concerns
All SB Accounts, CDCC Accounts in the name of
Individuals or Proprietary Concerns with an
Gold 250 350 250 40000 125000 125000
average balance
of Rs.50000/- per quarter in their accounts.

VISA All SB accounts and CDCC accounts in

the name of Individuals or Proprietary concerns,
Platinum 250 400 300 50000 200000 200000
with an average balance of
Rs.75000/- per quarter in their accounts.
All SB accounts and CDCC accounts in the name
of Individuals or Proprietary concerns, with an
Signature 400 750 850 100000 350000 350000
average balance of
Rs.1 lakh per quarter in their accounts.

All SB and CDCC accounts opened in

Classic 250 250 250 30000 75000 75000
individual names and with Proprietor Concerns

All Customers maintaining an average balance of

RUPAY Platinum Rs.50000/- per quarter in their SB and CDCC 250 350 250 50000 125000 125000
accounts.

All SB accounts, CD accounts in the name of

Select individuals or Proprietary concerns, maintaining 800 350 800 50000 350000 500000
an average daily balance of Rs.1,00,000/-

Classic/ All SB accounts, CD accounts in the name of

Master 150 250 250 20000 50000 50000
Gold individuals or Proprietary concerns

Visa/ Pre-Paid
All KYC Compliant Individuals 150 200 250 20000 50000 50000
RuPay Cards

86
DEBIT CARDS
 For all existing Cards, which have never been used, for E-Commerce/Online
(Domestic/International) transactions, the facility to be mandatorily disabled. It is to be noted
that, by default, at the time of issue / re-issue / Upgrade, all Cards shall be enabled for use only
at Contact based points of Usage [viz. ATMs and Point of Sale (PoS) devices] within India.
 Following transactions to be enabled by Branches only at the specific request of the
Cardholders.
 i) Domestic E-Commerce/Online (CNP- Card Not Present) transactions.
 ii) Domestic Contactless Transactions.
 iii) International Transactions whether Card present like ATM / PoS etc.. (Both Contact and Contactless) or
Card Not Present E-Commerce/Online transactions.

 Suitable Options have been provided in CBS Menu under HDCMSMNT for
Enabling/Disabling the above facilities as per the request of Cardholders.
 As per the said RBI circular, the following additional facilities are to be made available
for the convenience of the Cardholders to ensure safety and security of Card
transactions.
 Facility to Switch ON / OFF and Set / Modify transaction limits (Within the overall Card limit) for all types of
transactions — Domestic and International at ATMs/PoS/ Online transactions/Contactless Transactions etc.
 The above facility to be made available on 24 x 7 basis through Multiple
 Channels like Mobile Application / Net Banking / IVRS / ATMs / IVRS.
 Alerts / Information / Status etc., through SMS / E- Mail, to be sent to the Cardholders, as and when there is
any change in status of the Card.

 Provision of these facilities through Net Banking and Mobile Banking Implemented in
addition to Menu Based options in CBS. Options through IVRS and ATMs will be provided

87
DEBIT CARDS
Prepaid Cards:
 (Visa &RuPay): Our Bank has introduced Prepaid Cards in January 2017. These cards
are issued as Chip cards as open system Cards. Hence, this can be topped up by Cash
or debit from Account. These cards will work in ATM /POS/ E-com. These cards are valid
forpayments only in India.

 The minimum value that can be loaded in the card is Rs.500/- and the maximum
amount of balance that can be outstanding at any point of time is Rs.50000/- Cash
withdrawals through ATMs is permitted up to Rs.20000/- per day and E-Com/PoS
transactions can be made for the full value available in the card or Rs.50000/-
whichever is less. This card can be issued only to the customers who are full KYC
compliant.
PMJDY Insta Cards:
 On introduction of PMJDY accounts during 2014-15, since debit cards are to be issued
mandatorily to all PMJDY accounts, the programme was designed to generate the debits
automatically for all the PMJDY accounts without specifically applying by branches.
 As many customers are not turning up to collect the cards after 7-10 days, bank has
introduced the Insta cards for PMJDY accounts to enable the branches to issue the card
on the day of opening of the account. If the insta cards are not issued those accounts
only issued with personalized cards as per the present procedure. Branches are
requested to utilize the facility to increase the coverage of debit card issuance to
PMJDY category.
EMV contact/Contactless NCMC Card
 As per RBI guidelines all new cards to be issued only as EMV contact/Contactless NCMC Card.
EMV stands for Europay, Master & Visa who specified the Chip Standardization. As per the RBI
mandate bank is issuing only EMV Contactless NCMC cards. This is to ensurethe security in card
based transactions. All the Chip Cards issued will have both Chip and Magnetic stripe data. In
Chip enabled terminals (POS, ATM) only Chip will be read andMagstripe will be read only as fall-
back mechanism

88
DEBIT CARDS
National Common Mobility Card (NCMC)
NCMC cards has the special feature of Dual Interface (Contact and Contactless). Following are the other
important point about NCMC.
 This card can be used as a normal debit card and also has a unique stored value feature, which can be used for
digital payments in offline mode, thus making it a solution of choice for Public Transport and small retail shop.
 NCMC card is designed as a combination of both contact and contactless features with Near Field Communication
Technology.
 Under NFC technology PIN number is not required to be entered for completing the transaction and the card needs
only to be tapped on the PoS Terminal/Device to complete the transaction
 Wallet is a virtual allocation within the EMV Chip of the Card to store the balance of permitted amount that can be
transferred from the attached SB/CDCC account to make Off-line payments in Public Transport like Metro Rail &
Buses, Toll Plaza etc
 No/ Minimal Risk, since the transaction is permitted against the available balance in the Local wallet of each service
Id.
 Transaction above Rs.5000.00 will be mandatorily conducted over the Contact interface with PIN.
 Renewal cards will be sent as EMV NCMC contactless Cards to comply with RBI instructions hence existing pin cannot
be used so new Card will be generated with Green Pin only. As per the recent guidelines Branch shall obtain explicit
consent of the card holder prior to the renewal of an existing card.
 All Debit cards can be used in ATMs/PoS machines, Micro ATMs and ECom transactions. The restriction
in the number of usage per day in ATMs/Ecom/Pos will be decided by the department based on the
security aspects. (Presently cards are permitted 5 times per day for ATM and Ecom transactions and 10
times per day for PoS transactions.) All our Cards are issued for online transactions. Off-line Transactions
are permitted for NCMC wallets as per the guidelines issued by NPCI. Additional security feature like
2nd factor authentication is provided to card holders for using the cards in Ecom transactions.
 As per the RBI directives, all new debit and credit cards are being issued only for domestic usage unless
international use is specifically sought by the customer. By default International txns, Ecom txns and
contactless txns are disabled and can be enabled by Branch or customer themselves can enable
using Net banking, Mobile Banking.
 For ATM cash withdrawal in overseas centers, charges is Rs.100 per txn + applicable taxes.
 SB customers can use other Bank ATM maximum 5 financial/non-financial txns per month ( 3 in Metro
and 5 in other locations) , free of charges. Beyond this limit, a sum of Rs.21/- + GST will be debited as
charges. For CD a/c, this free allowance is NOT given.

89
DEBIT CARDS
 CARD BLOCKING
Card Blocking can be done by any of the following methods. By blocking, the status of the card will be kept in
Suspended status only. After getting confirmation letter, mark L and apply for generating Replacement card.
Replacement will attract charges
 Branch Finacle HDCMSMNT Menu.
 In IOB Website, directly by Customer in www.iob.in.
 Through Internet banking by the Customer himself.
 Through Mobile banking by the Customer himself.
 Through IVRS number 1800 425 4445.
 Calling ATM Help Desk 044-28519470.
 GREEN PIN :
We have made issuance of card with “Green PIN” as mandatory. All Cards will be issued with Green Pin only.
Paper pin can be issued only for PMJDY/KCC Cards where mobile number is not available. For NRI customers
for new cards, physical pin will be generated and will be sent to the branch only after request from the branch
after card is delivered to the Customer. Branches to check the status of the mobile number in the customer
data before marking the green PIN option.
 Applying New Debit Card/Replacement/Upgrade, Pin set/Pin reset/Change of pin, Block/Unblock of
Debit card, managing the limit of Debit cards channel wise such as ATM/POS/ECOM and Channel
Enable/Disable is implemented through mobile Banking and Net banking also which will reduce the
burden of the customers searching for ATMs for PIN generation.
 Card Activation is also implemented through Net Banking and through ATM also will be provided
shortly.
 Cash withdrawal in POS
 Under this facility, a cardholder can withdraw cash up to ₹2,000 per transaction within an overall monthly
limit of ₹10,000.
 Charges, if any, levied on cash withdrawals shall not exceed 1% of the transaction amount(As per RBI).

90
POS MACHINE
 Point of sale (POS), is a point of purchase, refers to the place where a customer
executes the payment for goods or services and where sales become payable. It can
be in a physical store, where POS terminals and systems are used to process card
payments such as a computer or mobile electronic device.
 Our Bank has end to end POS deployment business, which is outsourced with agreed
upon revenue sharing between the Service Provider 1. M/s Skillworth Technologies Pvt.
Ltd. and 2. M/s Payswiff Solutions Pvt. Ltd.
 Who shall avail the facility?
 Any merchant establishment/business concerns having banking with us with active current
account. The business entities not having account with us should open a current account
for business transaction to avail this service.
 The business entity should be fully KYC complied as per bank/RBI Guideline.
 The merchant entity should be registered with the respective registrar of firms/ROC/society
etc. as the case may be, except Individual/Proprietorship entities.
 Target group for the service are Shops, malls, hotels, restaurants, educational institutions,
religious institutions, public and private service utilities, theatres/amusement parks, hospitals
and any other business entities involving legal cash transactions.
 Features on card swiping devices:
 Digital GPRS PoS – A sleek device with GPRS SIM with digital receipt option
 Paper GPRS PoS - A reliable card swiping device with GPRS SIM and paper receipts
 Android PoS – Android device with or with our Paper receipts.
 The settlement of card transaction through our PoS will be done on next working day
and the merchant clients will be benefited by this instant credit.

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POS MACHINE
 Communication details of our service provider:
 M/s Skillworth Technologies Pvt Ltd, 9the floor Chaitanya Expetica, #51, Venkat Narayana
Road, T Nagar, Chennai – 600017. Phone : 9176795416
Email : [email protected]
Website : www.bijlipay.com
 M/s Payswiff Solutions Pvt Ltd, 2-48/5/6, Vaishnavi's Cynosure, 10th Floor, Telecom Nagar
Extn, Opposite RTTC, Gachibowli, Hyderabad, Telangana-500032. Phone : 1800-123-6327
Email : [email protected]
 Charges/ Commissions

Product Monthly Plan 1 Year Plan 2 Year Plan

mPOS Rs.75 NA NA

Rs.7000/-& INR 3000 (AMC) Rs.10000/- & INR 3000 (AMC) from 3rd
Digital POS Rs.400 from 2nd year year
Rs.7000/-& INR 3000 from 2nd Rs.10000/-& INR 3000(AMC)
Paper POS Rs.475 year from 3rd year
Rs.15000/-& INR 4500(AMC)
Android POS Rs.675 NA from 3rd year

 A rate of commission to be charged to the merchants/Merchant discount rate (MDR)will

be applicable for the transaction made through PoS. The charges are subject to
change, for latest charges please get updated by latest circulars issued by our bank for
the same.

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 LIMITING LIABILITY OF CUSTOMERS
 Zero Liability of a Customer - A customer’s entitlement to zero liability shall arise where
the unauthorised transaction occurs in the following events
 Contributory fraud/ negligence/ deficiency on the part of the bank (irrespective of whether or not the
transaction is reported by the customer).
 Third party breach where the deficiency lies neither with the bank nor with the customer but lies elsewhere
in the system, and the customer notifies the bank within three working days of receiving the
communication from the bank regarding the unauthorised transaction.

 Limited Liability of a Customer - A customer shall be liable for the loss occurring due to
unauthorised transactions in the following cases
 In cases where the loss is due to negligence by a customer, such as where he has shared the payment
credentials, the customer will bear the entire loss until he reports the unauthorised transaction to the bank.
Any loss occurring after the reporting of the unauthorised transaction shall be borne by the bank.
 In cases where the responsibility for the unauthorised electronic banking transaction lies neither with the
bank nor with the customer, but lies elsewhere in the system and when there is a delay (of four to seven
working days after receiving the communication from the bank) on the part of the customer in notifying
the bank of such a transaction, the per transaction liability of the customer shall be limited to the
transaction value or the amount mentioned in Table 1, whichever is lower.
Type of Account Maximum liability (₹)
• BSBD Accounts 5,000
• All other SB accounts 10,000
• Pre-paid Payment Instruments and Gift Cards
• Current/ Cash Credit/ Overdraft Accounts of MSMEs
• Current Accounts/ Cash Credit/ Overdraft Accounts of Individuals
with annual average balance (during 365 days preceding the
incidence of fraud)/ limit up to Rs.25 lakh
• Credit cards with limit up to Rs.5 lakh

• All other Current/ Cash Credit/ Overdraft Accounts 25,000

• Credit cards with limit above Rs.5 lakh

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 LIMITING LIABILITY OF CUSTOMERS
 Further, if the delay in reporting is beyond seven working days, the customer liability shall
be determined as per the bank’s Board approved policy. Banks shall provide the details
of their policy in regard to customers’ liability formulated in pursuance of these directions
at the time of opening the accounts. Banks shall also display their approved policy in
public domain for wider dissemination. The existing customers must also be individually
informed about the bank’s policy
 Overall liability of the customer in third party breaches, as detailed in paragraph 6 (ii)
and paragraph 7 (ii) above, where the deficiency lies neither with the bank nor with the
customer but lies elsewhere in the system, is summarised in the Table 2:
Time taken to report the fraudulent transaction Customer’s liability (₹)
from the date of receiving the communication
Within 3 working days Zero liability
Within 4 to 7 working days The transaction value or the amount mentioned in
Table 1, whichever is lower
Beyond 7 working days As per bank’s Board approved policy

 Reversal Timeline for Zero Liability/ Limited Liability of customer - On being notified by
the customer, the bank shall credit (shadow reversal) the amount involved in the
unauthorised electronic transaction to the customer’s account within 10 working days
from the date of such notification by the customer (without waiting for settlement of
insurance claim, if any). Banks may also at their discretion decide to waive off any
customer liability in case of unauthorised electronic banking transactions even in cases
of customer negligence. The credit shall be value dated to be as of the date of the
unauthorised transaction.

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HARMONISATION OF TURN AROUND TIME (TAT) AND
CUSTOMER COMPENSATION FOR FAILED
TRANSACTIONS USING AUTHORISED PAYMENT SYSTEMS
 The principle behind the TAT is based on the
following :
 If the transaction is a ‘credit-push’ funds transfer and
the beneficiary account is not credited while the debit
to originator has been effected, then credit is to be
effected within the prescribed time period failing which
the penalty has to be paid to the beneficiary;
 If there is delay in initiation of a transaction at the
originator bank’s end beyond the TAT, then penalty has
to be paid to the originator.
 For further reading refer the circularRBI/2019-20/67
DPSS.CO.PD No.629/02.01.014/2019-20 Dt
September 20, 2019

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HARMONISATION OF TURN AROUND TIME (TAT)
Framework for auto-reversal
Sl. and compensation
Description of the incident
no. Timeline for Compensation
auto-reversal payable
I II III IV
1 Automated Teller Machines (ATMs) including Micro-ATMs
a Customer’s account debited but cash not Pro-active ₹ 100/- per day
dispensed. reversal (R) of of delay beyond
failed transaction T + 5 days, to
within a the credit of the
maximum of T + account holder.
5 days.
2 Card Transaction
a Card to card transfer Transaction to be ₹ 100/- per day
reversed (R) latest of delay beyond
Card account debited but the beneficiary card within T + 1 day, T + 1 day.
account not credited. if credit is not
effected to the
beneficiary
account.

96
HARMONISATION OF TAT – CONT 1

Framework for auto-reversal and

Sl. compensation
Description of the incident
no. Timeline for Compensation
auto-reversal payable
b Point of Sale (PoS) (Card Present) including Auto-reversal within ₹ 100/- per day of
Cash at PoS T + 5 days. delay beyond T + 5
days.
Account debited but confirmation not received
at merchant location i.e., charge-slip not
generated.
c Card Not Present (CNP) (e-commerce)

Account debited but confirmation not received

at merchant’s system.
3 Immediate Payment System (IMPS)
a Account debited but the beneficiary account is If unable to credit to ₹100/- per day if
not credited. beneficiary account, delay is beyond T +
auto reversal (R) by 1 day.
the Beneficiary bank
latest on T + 1 day.

97
HARMONISATION OF TAT – CONT 2
Framework for auto-reversal and
Sl. compensation
Description of the incident
no. Timeline for Compensation
auto-reversal payable
4 Unified Payments Interface (UPI)
a Account debited but the beneficiary account is If unable to credit ₹100/- per day if
not credited (transfer of funds). the beneficiary delay is beyond T +
account, auto 1 day.
reversal (R) by the
Beneficiary bank
latest on T + 1 day.
b Account debited but transaction confirmation ₹100/- per day if
Auto-reversal within
not received at merchant location (payment to T + 5 days. delay is beyond T +
merchant). 5 days.
5 Aadhaar Enabled Payment System (including Aadhaar Pay)
a Account debited but transaction confirmation Acquirer to initiate ₹100/- per day if
not received at merchant location. “Credit Adjustment” delay is beyond T +
Account debited but beneficiary account not within T + 5 days. 5 days.
b
credited.
6 Aadhaar Payment Bridge System (APBS)
a Delay in crediting beneficiary’s account. Beneficiary bank to ₹100/- per day if
reverse the delay is beyond T +
transaction within T 1 day.
+ 1 day.
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HARMONISATION OF TAT – CONT 3
Framework for auto-reversal and
Sl. compensation
Description of the incident
no. Timeline for Compensation
auto-reversal payable
7 National Automated Clearing House (NACH)
a Delay in crediting beneficiary’s account or Beneficiary bank to ₹100/- per day if
reversal of amount. reverse the delay is beyond T +
uncredited 1 day.
transaction within T
+ 1 day.
b Account debited despite revocation of debit Customer’s bank
mandate with the bank by the customer. will be responsible
for such debit.
Resolution to be
completed within T
+ 1 day.
8 Prepaid Payment Instruments (PPIs) – Cards / Wallets
a Off-Us transaction

The transaction will ride on UPI, card network, IMPS, etc., as the case may be. The TAT
and compensation rule of respective system shall apply.
b On-Us transaction Reversal effected in ₹100/- per day if
Remitter’s account delay is beyond T +
Beneficiary’s PPI not credited. within T + 1 day. 1 day.

PPI debited but transaction confirmation not

received at merchant location.
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DISCONTINUED SERVICES
 IOB Nanban mobile application has been launched for the benefit of our customers for
performing Non-Financial transactions.
 This Service is now discontinued

 IOB mPassbook is a mobile application to view the transaction statement. Now this
service is merged with Mobile Banking application and spate application discontinued
 IOB Rewards scheme for debit cards was closed from 01.10.2020. Also Mobile
application for the same purpose also discontinued with.

100
Indian Overseas Bank
इण्डियन ओवरसीज़ बैंक

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