Customer Information
| Investor Relations
| Services
Real Time Gross
Settlement (RTGS)
J&K bank offers Real Time Gross Settlement (RTGS) payments and collections as a
speedy, convenient, cost-efficient and secure method to move large value funds
across the country. This offering is based on Reserve Bank of India's (RBI) RTGS
payment system.
Product Features
RTGS is applicable for
payouts in excess of INR100,000
Smooth, safe and fastest
mode of transferring money across the banks
in India
RBI's RTGS guidelines
require the beneficiary bank to credit the
beneficiary's account or return the funds,
within a maximum time of 2 hours
RTGS is an effective
collections mechanism as funds from across
the country can be collected & credited to
your account on the same day
An efficient mechanism for
outstation payments and collections.
Payments can be made to or received from
across the country on a same-day basis
Over 34,000+ bank branches
participate in RTGS (as at October 07)
Efficient working capital
management by enabling negotiation of better
terms with suppliers & by facilitating
speedy collection of funds
Simplifies account
reconciliation due to predictability of
funds flow
Savings of time and cost
involved in physical dispatch of cheques to
beneficiaries, deposits of cheques by
beneficiaries with their banks & clearing of
these cheques
Reduced chances of frauds
typically associated with paper-based
payments
National Electronic Fund
Transfer (NEFT)
J&K Bank offers National Electronic
Fund Transfer (NEFT) payments as a speedy,
convenient, cost-efficient and secure mechanism to
move funds across the country. This offering is
based on RBI’s NEFT system.
Product Features
RBI’s NEFT guidelines
mandate the beneficiary bank to credit the
beneficiary’s account or return the funds,
within the same day for transactions
processed before a stipulated cut-off time
Smooth, safe and fastest
mode of transferring money across the banks
in India
There is no floor or cap
on the amount of transfer in NEFT, means you
can transfer from an amount as small as one
rupee to any amount
NEFT is an effective
collections mechanism as funds from across
the country can be collected & credited to
your account on the same day
Efficient mechanism for
outstation payments and collections.
Payments can be made to or received from
across the country on a same-day basis
Over 31,000+ bank
branches participate in NEFT (as at October
07)
Efficient working capital
management by enabling negotiation of better
terms with suppliers and by facilitating
speedy collection of funds
Simplifies account
reconciliation due to predictability of fund
flow
Savings of time and cost
involved in physical dispatch of cheques to
beneficiaries, deposits of cheques by
beneficiaries with their banks & clearing of
these cheques
Reduces chances of frauds
typically associated with paper-based
payments
