Core banking solution
ABB : Any Branch Banking. (Involves transactions between accounts of customer to customers of branches)
Transaction Details : SB/CA/CCL/OD Operating Accounts:
- Cash remittance to other branch SB/CA/CCL/OD accounts by the customer can be credited through ABB with a maximum amount of Rs.2,00,000/- per day per account.
- Cash Cheque presented by the customer of other Branch account can be paid through ABB subject to following condition
- Maximum amount of Rs.50000/- can be paid through cash mode to account holder only
- Cash Withdrawal through Withdrawal slip / Loose Leaves are not to be allowed in ABB transactions.
- In case of current account, Cash payment may be allowed provided the party is an individual or a proprietaryship concern. Necessary ID proof to be taken.
- Bearer cheque should not be paid through ABB
- The Account Holder must personally be present for doing the Transactions.
- Inter Branch Standing instructions can be effected for operative accounts like SB, CA and Loan Accounts.
- Standing Instruction should be given at the base / originating branch only. (For Ex. Standing instructions for RD Accounts in One Branch can be effected from SB account of another Branch)
- Pass Book is Compulsory for ABB Transactions.
TERM DEPOSITS : (FD/RD)
- Interest on deposits can be transferred from originating branch to any other branch account i.e. SB/CA/CCL/OD.
- Closure and Opening of Deposit should be done at originating branch only & the proceeds of the deposits can be transferred to any other branch SB/CA/CCL/OD of the same customer.
- Cash remittance of RD Installment can be made from other branch to the originating Branch.