The Reserve Bank of India (RBI), Chennai, organised an electronic banking awareness and training programme here recently to sensitise bankers and customers to electronic banking products and services.
The RBI’s Department of Payment and Settlement System organised the Electronic Banking Awareness and Training (E-BAAT) meet.
Presiding over the programme, RBI Chief General Manager V. Vasanthan briefed the participants about steps taken by the apex bank to popularise e-banking products, infusing use of high technology for easy use products such as the grid-based Cheque Truncation System (CTS), the National Automated Clearing House (NACH), the National Electronic Fund Transfer (NEFT), the New Generation Real Time Gross Settlement (NG-RTGS) and the Bharat Bill Payment System (BBPS) all at affordable cost and called upon the public to utilise the electronic products to ensure a “less-cash” society as well as to meet the fund transfer requirement in environment and customer-friendly manner.
The RBI officials then made a presentation on various products.
Mr. Vasanthan then interacted with the participants and provided clarifications to the issues and doubts raised by the participants with regard to Cheque Truncation System (CTS), issues related to P2F, closure of non-MICR clearing house, clearing of non-CTS standard cheques and transfer of funds through electronic means.
Indian Overseas Bank Senior Regional Manager Siddharthan spoke on how technology enhanced the speed and safety of banking transactions. State Bank of India Regional Manager Sadhasivam praised the RBI for creating awareness among the public even in small centres and urged the public to derive the maximum benefit from the awareness programme.
RBI General Manager U. Chiranjeevi highlighted the evolution of payment system, from Barter to New Generation Real Time Gross Settlement System (NG-RTGS).
Central bank working towards “less-cash” society
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