RTGS/ NEFT

Branch wise IFSC Codes

RTGS (Real Time Gross Settlement) and NEFT (National Electronic Funds Transfer)

 The The RTGS and NEFT facility has been made available for customers to transfer fund from one Bank to another Bank at all Branches of our Bank. The RTGS and NEFT funds transfer facility has also been available for Internet Banking Customers of our Bank.

The timings for RTGS and NEFT transactions are as given below:

Particulars

RTGS

NEFT

1) Customer Transactions 9.00 AM to 4.30 PM from Monday to Friday for settlement at RBI

9.00 AM to 1.30 PM on Saturday for settlement at RBI
9.00 AM to 7.00 PM from Monday to Friday for settlement at RBI

9.00 AM to 1.00 PM on Saturday for settlement at RBI
2) Inter-Bank Transactions 9.00 AM to 6.00 PM from Monday to Friday for settlement at RBI

9.00 AM to 3.00 PM on Saturday for settlement at RBI

--

Note: The settlement for NEFT transactions takes place every hour during time window mentioned above.

TThe minimum amount for customer transactions through RTGS is Rs.2 Lakhs while there is no amount restriction for NEFT transactions. In RTGS both Customer and Inter-Bank transactions are permitted whereas in NEFT only Customer transactions are permitted.

As per the RBI guidelines applicable from 1st RTGS, NEFT will be credited to beneficiary account on only the basis of Beneficiary account number. Therefore, the originator of transaction will have to ensure that the correct Beneficiary Account number has been written in the Funds Transfer Application Form. January 2011, the funds transferred through

The contact numbers for Customer grievances are given below:

1)      Customer Facilitation Center for NEFT: 022- 22695421/ 2269 7298
2)   Email Address of NEFT Cell -  sbmum_neft@mahabank.co.in
3)     
RTGS Cell : 022- 22780324 / 22780325 / 22780305
4)     
Email Address of RTGS Cell:  cmrtgs@mahabank.co.in
5)     
Internet Banking Helpdesk

Revision in Service Charges on RTGS transactions w.e.f. 01.09.2013 in view of Time Varying Tariff Imposed by the RBI

The Reserve Bank of India has started levying time varying tariff on RTGS outgoing customer transactions w.e.f. 01.09.2013 as under.

Block Time of Settlement at RBI Time Band Charges Per Tranction (Rs.)
1 09.00 hrs to 12.00 hrs Nil
2 After 12.00 hrs to 15.30 hrs 1.00
3 After 15.30 hrs to 17.30 hrs 5.00
4 After 17.30 hrs 10.00

In view of the above, service charges of the Bank on RTGS Transactions are being revised w.e.f. 1st September 2013 as under (inclusive of time varying tariff).

RTGS Transaction Existing charges per transaction w.e.f. 01/11/2011 (exclusive of service tax) Revised Charges per transction w.e.f. 01/09/2013 (exclusive of service tax)
Inward Transactions Nil Nil
Outward Transactions
Less than 2 Lakh Not Applicable (Min. threshold 2 Lakh) Not Applicable( Min. threshold 2 Lakh)
2 Lakh to 5 Lakh
Time Band Charges
09.00 hrs to 12.00 hrs 25/-
After 12.00 hrs to 15.30 hrs 26/-
After 15.30 hrs to 17.30 hrs 30/-
After 17.30 hrs 30/-
Time Band Charges
09.00 hrs to 12.00 hrs 25/-
After 12.00 hrs to 15.30 hrs 26/-
After 15.30 hrs to 17.30 hrs 30/-
After 17.30 hrs 30/-


Above 5 Lakh
Time Band Charges
09.00 hrs to 12.00 hrs 50/-
After 12.00 hrs to 15.30 hrs 51/-
After 15.30 hrs to 17.30 hrs 55/-
After 17.30 hrs 55/-
Time Band Charges
09.00 hrs to 12.00 hrs 50/-
After 12.00 hrs to 15.30 hrs 51/-
After 15.30 hrs to 17.30 hrs 55/-
After 17.30 hrs 55/-

The Charges for NEFT transactions are as below:

Service Charges on NEFT transactions are revised as under w.e.f. 01.09.2013

Existing Charges per Transaction w.e.f. 09.06.2012 (excluding service tax) Revised Charges per Transaction w.e.f. 01.09.2013 (excluding service tax)
  1. Inward : Nil
  2. Outward
Upto 1 Lakh : Nil
Above 1 Lakh to 2 Lakh : 15/-
Above 2 Lakh : 25/-
  1. Inward : Nil
  2. Outward
Upto 1 Lakh :Nil
Above 1 Lakh to 2 Lakh : 15/-
Above 2 Lakh : 25/-

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