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Now You Can Pay Your Installments To IRWO Through RTGS System

The document provides instructions for paying installments to the Indian Railway Welfare Organisation (IRWO) through the Real Time Gross Settlement (RTGS) system. RTGS allows for fast electronic funds transfers between banks. It states that IRWO allottees can now pay installments through RTGS, and provides the required details such as the beneficiary bank name, IRWO account number based on project, and IFSC code. The document aims to facilitate installment payments to IRWO through electronic fund transfer using RTGS.

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Umesh Rai
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139 views3 pages

Now You Can Pay Your Installments To IRWO Through RTGS System

The document provides instructions for paying installments to the Indian Railway Welfare Organisation (IRWO) through the Real Time Gross Settlement (RTGS) system. RTGS allows for fast electronic funds transfers between banks. It states that IRWO allottees can now pay installments through RTGS, and provides the required details such as the beneficiary bank name, IRWO account number based on project, and IFSC code. The document aims to facilitate installment payments to IRWO through electronic fund transfer using RTGS.

Uploaded by

Umesh Rai
Copyright
© Attribution Non-Commercial (BY-NC)
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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Now you can pay your installments to IRWO through RTGS system

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Sub: Payment of installments through RTGS system

RTGS (Real Time Gross Settlement) system is a funds transfer mechanism where transfer of
money takes place from one bank to another on a 'real time' and on 'gross' basis. This is the
fastest possible money transfer system through the banking channel. The RTGS system is
primarily for large value transactions. The minimum amount to be remitted through RTGS is
Rs.1 lakh.

2. The remitting customer has to furnish the following information to his/her bank for effecting
a RTGS remittance:

i) Amount to be remitted.

ii) His/Her account number which is to be debited.

iii) Name of the beneficiary bank.

iv) Name of the beneficiary customer

v) Account number of the beneficiary customer.

vi) Sender to receiver information, if any.

vii) The IFSC Number of the receiving branch

3. As far as the processing/service charges are concerned, RBI has mandated the following
broad framework:

Remittances from Rs. 1 lakh to Rs. 5 lakh: Not exceeding Rs. 25 per transaction.
Remittances from Rs. 5 lakh and above: Not exceeding Rs. 50 per transaction.
4. For further details about RTGS system, please visit the RBI website.
5. To facilitate IRWO’s allottees in making payment of installments, it has been decided to
accept payments in IRWO through RTGS system. The details required for the purpose of
remittance are as follows:

i) & ii) May be filled up by the allottee, as per his/her particulars.

iii) Name of the beneficiary bank: Indian Overseas Bank, Gole Market branch, Bangla Sahib
Road, New Delhi – 110001.

iv) Name of the beneficiary customer: Indian Railway Welfare Organisation, New Delhi

v) Account number of the beneficiary customer: *(Please choose an account number from the
list below, based on the project)

vi) Sender to Receiver Information:

Allottee’s Primary Registration No. with IRWO:

Name of the IRWO Project:

Installment No:

Break-up of amount remitted: Instalment amount_________Interest/Penalty_______Service


Tax________Any other charges__________Total___________

vii) IFSC Number of the Receiving Branch: IOBA0000840.

*Account Numbers for various IRWO projects

Sr No Name of the Project Account No


1 Bengaluru 084001000014389
2 Chennai 08400100009171
3 Lucknow Phase III 084001000013826
4 Sonepat/Kundli 084001000014121
5 Moradabad 084001000014088
6 Meerut 084001000014392
7 Kolkata Phase IIIB 084001000013781
8 Hyderabad Phase III 084001000013825
9 Ajmer Phase II 084001000014140

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