RETAIL BANKING AN INTRODUCTION

Banking in India has come a full circle from the time when you had to wait in a
queue to collect cash to getting it delivered at your doorstep at no extra cost. Add to
that services like phone banking, Internet banking, 24 hour ATM, draft delivery at
home, etc. and you have service spelt with a capital S.
Though the contemporary banks' services have changed a lot over the last few
years, the core function has remained the same. Banks handle deposits and
withdrawal of money, provide loans, pay a part of the surplus as interest and the rest
is kept back for the smooth functioning of the bank and profit making.
A banks' functions can be divided into various divisions like:

Retail/Personal Banking: This division provides a range of financial services to

individual customers and small companies. It operates mainly through branch
networks.
Retail banking includes routine transactions like deposits and withdrawals of
money; money transfer; foreign currency exchange and traveler's cheque
encashment. They also deal with personal and small loans, credit and mortgages;
insurance policies; investment schemes; pension funds; and advice to customers on
various financial matters. Apart from offering home loans, car loans, educational
loans, consumer loans, etc. they also develop various deposit schemes and help
people fill their coffers.
Corporate Banking: They deal with medium to large-scale companies and
government agencies. It could start at the local branch manager level, though more
complex dealings are routed through corporate divisions of clearing banks and their
merchant banking subsidiaries. Corporate banking deals with credit and advances,
trade finance, foreign exchange management, asset management, lease financing of
heavy equipment, infrastructure, machinery, credit risk assessment, etc. They also
advise clients on matters such as corporate mergers and acquisition, raising capital
and business strategy regarding competitors and outside factors.

Merchant Banking: Investment management is the primary activity of this group.

It could be on behalf of corporate clients, or institutional investors-like pension
funds, investment trusts, or those in the securities business. This groups also
handles public issue and marketing of shares, debentures and other such papers. It
may also include other stock market functions like dematerialization services,
investment advisory services, etc. Merchant banking executives research into
capital market, advise and manage funds of various corporate and individual
customers.

Treasury group: This group takes care of the total funds of a bank including
foreign exchange reserves. Responsibilities include bank portfolio management,
dealing in foreign currency, etc. There are Forex (foreign exchange) dealers in this
group who exclusively deal with the foreign market. They buy and sell foreign
exchange at the minimum exchange cost thereby earning maximum profit from the
transactions.

Rural Banking: This group deals with the banking and credit needs of people in
the rural sector. Not all banks have this group and some banks have separate
subsidiary companies for rural banking.
Product Management: This group conceptualizes various banking services and
then develops, implements and manages them. They have the responsibility for a
banking product (meaning services like personal loans, home loans, credit cards,
loans against shares, educational loans, etc.)
Apart from these main functional groups, there is an appraisal group to analyse
economic feasibility of industrial projects, the bank's exposure to financial risk and
long term returns. There are internal auditors who audit the bank's internal books of
accounts.
There are various groups of professionals like lawyers, engineers, agricultural
scientists and economists who work in various departments in advisory capacities.
They help make decisions on issues that are legal, technical or economic in nature.
For example, the economist advises various functional groups on the implications
of the Union budget on the business of the banks, consumer buying pattern, etc.

BANKING IN RETAIL

With a jump in the Indian economy from a manufacturing sector, that never really
took off, to a nascent service sector, Banking as a whole is undergoing a change. A
larger option for the consumer is getting translated into a larger demand for
financial products and customization of services is fast becoming the norm than a
competitive advantage. With the Retail banking sector expected to grow at a rate of
30% [Chanda Kochhar, ED, ICICI Bank] players are focusing more and more on
the Retail and are waking up to the potential of this sector of banking. At the same
time, the banking sector as a whole is seeing structural changes in regulatory
frameworks and securitization and stringent NPA norms expected to be in place by
2004 means the faster one adapts to these changing dynamics, the faster is one
expected to gain the advantage. In this article, we try to study the reasons behind the
euphemism regarding the Retail-focus of the Indian banks and try to assess how
much of it is worth the attention that it is attracting.

POTENTIAL FOR RETAIL IN INDIA: IS SKY THE LIMIT

The Indian players are bullish on the Retail business and this is not totally
unfounded. There are two main reasons behind this. Firstly, it is now undeniable
that the face of the Indian consumer is changing. This is reflected in a change in the
urban household income pattern. The direct fallout of such a change will be the
consumption patterns and hence the banking habits of Indians, which will now be
skewed towards Retail products. At the same time, India compares pretty poorly
with the other economies of the world that are now becoming comparable in terms
of spending patterns with the opening up of our economy. For instance, while the
total outstanding Retail loans in Taiwan is around 41% of GDP, the figure in India
stands at less than 5%. The comparison with the West is even more staggering.
Another comparison that is natural when comparing Retail sectors is the use of
credit cards. Here also, the potential lies in the fact that of all the consumer
expenditure in India in 2001, less than 1% was through plastic, the corresponding
US figure standing at 18%.

But how competitive are the players

The fact that the statistics reveal a huge potential also brings with it a threat that is
true for any sector of a country that is opening up. Just how competitive are our
banks? Is the threat of getting drubbed by foreign competition real? To analyze this,
one needs to get into the shoes of the foreign banks. In other words, how do they
see us? Are we good takeover targets?
Going by international standards, a large portion of the Indian population is simply
not “bankable” – taking profitability into consideration. On the other hand, the
financial services market is highly over-leveraged in India. Competition is fierce,
particularly from local private banks such as HDFC and ICICI, in the business of
home, car and consumer loans. There, precisely lie the pitfalls of such explosive
growth. All banks are targeting the fluffiest segment i.e. the upwardly mobile urban
salaried class. Although the players are spreading their operations into segments
like self- employed and the semi-urban rich, it is an open secret that the big city
Indian yuppies form the most profitable segment. Over-dependence on this segment
is bound to bring in inflexibility in the business.

What according to you would be the next big thing to happen in the Indian
retail banking sector

Outsourcing! If you are a keen observer of the market, you would notice that every
sector, including big industrial sectors like car manufacturers, have gone for
outsourcing their requirements. Over a period, those players who have gone
aggressive on outsourcing have found that it saves them not only cost and time but
helps them concentrate on their core business area, a key survival necessity in these
times of economic downturns.
BANKING IN INDIA

Retail credit outstanding as on March 22, 2003, amounted to Rs 1,60,000 crore.

According to one estimate, the retail segment is expected to grow at 30-40% in the
coming years.
Major Players: State Bank of India, HDFC Bank, UTI Bank, IDBI Bank and ICICI
Bank.

What about the foreign giants

The foreign banks have identified this problem but there are certain systematic risks
involved in operating in the Retail market for them. These include regulatory restrictions
that prevent them from expanding their branch network.

So these banks often take the Direct Selling Agent (DSA) route whereby low-end
jobs like sourcing or transaction processing are outsourced to small regional layers.
So now on, when you see a loan mela or a road show showcasing the retail bouquet
of an elite MNC giant, you know that a significant commission earned out of any
such booking gets ploughed back to our own economy. Perhaps, one of the biggest
impediments in foreign players leveraging the Indian markets is the absence of
positive credit bureaus. In the west the risk profile can be easily mapped to things
like SSNs and this information can be publicly traded. PAN is a step in this
direction but lot more work need to be done. What has been a positive step towards
this is a negative file sharing started by a consortium of 11 banks. However, as a
McKinsey study points out actual write-offs on NPAs show a strong negative
correlation with sharing of positive information. On top of this, the spend-now-pay-
later “credit culture” in India is just not picking up. A swift legal procedure against
consumers creating bad debt is virtually non-existent. Finally, the vast geographical
and cultural diversity of the country makes credit policy formulation a tough job
and it simply cannot be dictated from a Wall Street or a Singapore boardroom! All
these add up to the unattractiveness of the Indian retail market to the foreign
players. So over the past few years, in spite of the entry of MNCs in many
industries, Retail Banking has seen a flurry of panicky exits. Fewer than 40 remain
in India and their share of total bank assets currently 7.2% is falling. Those that
remain might be thought to be likely buyers of Indian banks. Yet Citibank, HSBC
and Standard Chartered—all in India for more than a century, and with relatively
large retail networks—seem to have no pressing need to acquire a local bank.
Established foreign banks have preferred to take over customers or businesses from
other foreign banks that want to leave. Thus HSBC, in recent years, has o-
Mitsubishi. ABN Amro took over Bank of America's retail business.

So all for the keeping then

This will perhaps be the most wrongful inference that can be drawn from the above.
We just cannot afford to look inwards and repeat the mistakes that were the side
effects of the Nationalization of the Banking System. A growing market can never
be an alibi for lack of innovation. Indian banks have shown little or no interest in
innovative tailor-made products. A case in point is the successful implementation of
micro-credit networks in Bangladesh. Positioning a bank as a tech-savvy financial
vendor in a country where Internet penetration is an abysmal 1.65% can only add to
the over-leveraging as pointed out earlier.
The focus of the sector should remain in macroeconomic wealth creation and not
increasing the per capita indebtedness that will do little but add to the NPA burden.
Retail Banking in India has to be developed in the Indian way, notwithstanding the
long queues in front of the teller counters in the Public sector banks!
PRODUCT/SERVICES PROFILE OF YES BANK

1. Current account
-CA30000
-CA70000
-CA200000
-CA500000

2. Savings account
-Silver savings account
-Gold savings account

3. FD
4. Smart Saver
5. Smart Access
6. Non resident account (different varient)

CURRENT ACCOUNTS
Current Account is primarily meant for the purpose of facilitating business
transactions.
Current Accounts – Benefits
The main advantage of Current Account is its high liquidity and also provides
safety of funds to the customer. Current account serves as a low cost of funds for
the Bank, provides an opportunity for cross sell and creates stickiness / engagement
of the customer because of their transactional nature.
CA 30
Features

 Swift & Convenient Cheque Collections at YES Bank Locations as well as

2500 Correspondent Bank Locations

 AQT/AQB Criterion for evaluating Non-Maintenance Charges

 Doorstep Banking allowing pickup and delivery of cash and instruments

 CMS Services

 Corporate Net Banking with bulk upload facility

 Flat and aggressive transaction charges for Pay Orders, Demand Drafts,
RTGS, Online RTGS, Foreign Outward Remittances (non-trade)

CA 70
Features
 Swift & Convenient Cheque Collections at YES Bank Locations as well as
2500 Correspondent Bank Locations

 AQT/AQB Criterion for evaluating Non-Maintenance Charges

 Doorstep Banking allowing pick up and delivery of cash and instruments

 CMS Services

 Corporate Net Banking with bulk upload facility

Flat and aggressive transaction charges for Pay Orders, Demand Drafts, RTGS,
Online RTGS, Foreign Outward Remittances (non-trade)
CA 200
Features
 Swift & Convenient Cheqfue Collections at YES Bank Locations as well as
2500 Correspondent Bank Locations

 AQT/AQB Criterion for evaluating Non-Maintenance Charges

 Doorstep Banking allowing pickup and delivery of cash and instruments

 CMS Services

 Corporate Net Banking with bulk upload facility

 Flat and aggressive transaction charges for Pay Orders, Demand Drafts,
RTGS, Online RTGS, Foreign Outward Remittances (non-trade)

 YES Business Gold Card providing a cash withdrawal limit of Rs 1 lacs

CA 500
Features
 Swift & Convenient Cheque Collections at YES Bank Locations as well as
2500 Correspondent Bank Locations

 AQT/AQB Criterion for evaluating Non-Maintenance Charges

 Free Personalized PAP Cheque Books (limits as per account variant)

 Doorstep Banking allowing pickup and delivery of cash and instruments

 CMS Services

 Corporate Net Banking with bulk upload facility

  Flat and aggressive transaction charges for Pay Orders, Demand Drafts,
RTGS, Online RTGS, Foreign Outward Remittances (non-trade)

 YES Business Gold Card allowing a cash withdrawal limit of Rs 1 lacs

SAVINGS ACCOUNTS
Savings Bank Accounts are meant to promote the habit of saving among the citizens
while allowing them to use their funds when required. Savings accounts are opened
for purpose of personal banking transactions.
Savings Accounts – Benefits
The main advantage of Savings Bank Account is its high liquidity and safety.
Savings account serves as a low cost of funds for the Bank, provides a platform for
cross sell and creates stickiness / engagement of the customer because of its
transactional nature.
SILVER SAVINGS ACCOUNT
Features:
 Personalized Payable At Par Cheque book

 More than 2500 locations for collection and more than 640 locations
for payment services

 Free Instant Money transfer (RTGS/NEFT)to over 54,000 Bank branches in

India

 International Silver Debit Card with access to over 1.25 million ATM’s
worldwide & 35,000 ATMs of Cashtree/Maestro/NFS in India

 Bill Pay facility with access to over 114 Biller’s in India

GOLD SAVINGS ACCOUNT

Features
 Free Instant Money transfer (RTGS/NEFT)to over 54,000 Bank branches in
India

 Personalized Payable At Par Cheque book

 More than 2500 locations for collection and more than 640 locations
for payment services

 International Gold Debit Card providing Free Access to over 1.25 million
ATM’s worldwide & 35,000 ATMs of Cashtree/Maestro/NFS in India

 Free Bill Pay with access to over 114 Biller’s in India

FIXED DEPOSITS
In a Fixed Deposit Account, a certain sum of money is deposited in the bank for a
specified time period with a fixed rate of interest. The rate of interest for Bank
Fixed Deposits depends on the maturity period.

Bank deposits are fairly safe because banks are subject to control of the Reserve
Bank of India (RBI) with regard to several policy and operational parameters. The
banks are free to offer varying interests in fixed deposits of different maturities.
Interest is compounded once a quarter, leading to a higher effective rate.

The minimum deposit amount varies with each bank. The minimum amount of
Fixed deposit that can be placed with YES Bank can range from as low as Rs.
10,000 to an unlimited amount.
Interest Rates for Fixed Deposits

Less than INR

Annualized Yield
15 lacs
7 to14 Days 2.25% 2.25%
15 to 30 Days 2.50% 2.50%
31 to 45 Days 3.00% 3.00%
46 to 60 Days 3.50% 3.50%
61 to 90 Days 4.00% 4.00%
91 to 120 Days 4.50% 4.50%
121 Days to 180 Days 4.75% 4.75%
181 Days to 270 Days 6.00% 6.14%
271 Days to less than 1 Year 6.00% 6.14%
1 Year to 13 Months 6.60% 6.77%
13 Months 1 Day 6.75% 6.92%
13 Months 2 Days to 15 Months 6.60% 6.77%
15 Months 1 Day to 18 Months 6.60% 6.77%
18 Months 1 Day to 2 Years 7.10% 7.29%
2 Years 1 Day to 25 Months 7.10% 7.29%
25 Months 1 Day 7.25% 7.45%
25 Months 2 Days to 3 Years 7.10% 7.29%
3 Years 1 Day to 5 Years 7.50% 7.71%
Greater than 5 Years 7.50% 7.71%
 Less than INR
Annualized Yield
15 lacs
7 to14 Days 2.75% 2.75%
15 to 30 Days 3.00% 3.00%
31 to 45 Days 3.50% 3.50%
46 to 60 Days 4.00% 4.00%
61 to 90 Days 4.50% 4.50%
91 to 120 Days 5.00% 5.00%
121 Days to 180 Days 5.25% 5.25%
181 Days to 270 Days 6.50% 6.66%
271 Days to less than 1 Year 6.50% 6.66%
1 Year to 13 Months 7.10% 7.29%
13 Months 1 Day 7.25% 7.45%
13 Months 2 Days to 15 Months 7.10% 7.29%
15 Months 1 Day to 18 Months 7.10% 7.29%
18 Months 1 Day to 2 Years 7.60% 7.82%
2 Years 1 Day to 25 Months 7.60% 7.82%
25 Months 1 Day 7.75% 7.98%
25 Months 2 Days to 3 Years 7.60% 7.82%
3 Years 1 Day to 5 Years 8.00% 8.24%
Greater than 5 Years 8.00% 8.24%

Returns

The rate of interest for Bank Fixed Deposits depends on the maturity period
(duration) of the FD and the amount invested. Interest rate also varies between each
bank. Some banks have facility to pay interest every quarter or every month, but the
interest paid may be at a discounted rate in case of monthly interest. The Interest
payable on Fixed Deposit can also be transferred to Savings Bank or Current
Account of the customer or could be paid back by a PO.
 FD Minimum Tenure Account
Value(Rs.) Type
Rs.200,000 6 Months 1 Day Gold
Account

Rs.25,000 6 Months 1 Day Silver

Account

Target Segment: Resident Individual Customers

TAX SAVER DEPOSIT

Product Name TAX SAVER DEPOSIT

 439 - FD-5 Yrs Tax Efficient Payout Resident
Product codes
 440 - FD-5 Yrs Tax Efficient Reinvestment Resident
( Normal Citizens )
 441 - FD 5 Yrs Tax Efficient Payout Senior Citizen
Product codes  442 - FD-5 Yrs Tax Efficient Reinvestment Senior
( Senior Citizens ) Citizen

 443 - FD-5 Yrs Tax Efficient Payout Non Resident

Product codes
 444 - FD-5 Yrs Tax Efficient Reinvestment Non
( Non Residents )
Resident
Tax benefit up to max. Rs.1,00,000/- under Section 80 C of
Tax benefit
IT Act
Tenure 5 Years
Eligible for Benefit Individuals (Both Residents & Non-Residents) & HUF
Could be Single or Joint holders In case of joint accounts,
Joint Holders
only first holder would be eligible for tax deduction
Pan Card Mandatory for Primary holder
Rs 10,000/- (Deposit can be in multiple of Rs 1,000
Min Amount
There after).
Max Amount Rs.1,00,000/- in a Financial Year with all Banks
Deposit
Multiples of Rs 1,000
denomination
 Quarterly Payout
or
Interest option
Reinvestment only.
Monthly payout option NOT available
Pre-closure is permissible only in the event of death of the
Premature
primary account holder. Pre-mat will happen at card rate for
withdrawal
the tenure FD is kept with the Bank.
Nomination Only one nomination allowed

RECURRING DEPOSIT

Given the volatility and risk of capital and return across various investment options,
customers look for avenues to park funds with assured returns and safety of
principal. Recurring Deposit scheme enables the depositor to make a financial
provision by paying equated monthly installments for a pre-agreed period. At the
end of pre-determined period you are paid back the lump sum including the
principal and interest.

Features and benefits of Recurring Deposit

 Open a Recurring Deposit with a minimum monthly installment of Rs 1,000
 Choose the convenience of duration between minimum 6 months to maximum 2
years.
 Lock your interest rate now for future bookings (identical to the Term Deposit
interest rates).
 Senior citizens get an extra benefit in the interest rates (extra 50 basis points).
 Non-applicability of Tax Deduction at Source (TDS).
 Encourages savings without stress on customer’s finances.
 Easy way of paying monthly installment by providing a onetime standing
instruction from customers YES Bank Savings Account.
SMART ACCESS
Money kept in the Savings Account earns a lower rate of interest vis a vis the same
if placed as a Term Deposit. Money in the Savings account provides liquidity and
cover for day to day or immediately foreseeable expenses. SMART ACCESS
account gives you the flexibility by linking your term deposit(s) to your savings or
current account. Whenever there is a need of funds, the same is swept in from the
linked term deposit to meet the requirements.

Features & Benefits

 Earn high Term Deposit interest rates on your savings
 Enjoy the flexibility of a YES Bank Savings Account or a Current Account.
 Get easy access to you money whenever you need it through a ATM or any
YES Bank branch
 Your Deposit is broken in multiples of Re 1
 Link multiple Term Deposits to your account.
 Get a personalized cheque book in the Savings Account
 Your complete access to your account related information on your fingertips
with our phone banking services.
 No extra fee or cost will be charged to the customer for this facility. The
Savings/Current Account AQB requirements as well as associated service
charges will be as per applicable Schedule of Charges.
DEBIT/ATM CARDS

 FREE Unlimited Access to over 19000 ATMs across India

 Free Unlimited Access to over 1.25 million MasterCard ATM’s worldwide
and over 19,000 ATM’s in India
 1st Indian debit card to offer 0% surcharge on fuel purchases at any petrol
pump in India- instant 2.5% saving
 Daily cash withdrawal limit of Rs. 75,000 & purchase limit of Rs.75,000
 International transactions are always reflected in Indian Rupees
 Free access to clipper lounges at Airports in major metros

 FREE Unlimited Access to over 19000 ATMs

  Daily cash withdrawal limit of Rs. 25,000 & purchase limit of Rs. 25,000
 Instant updation of account to reflect your debit card transactions. Keeping
you in the know, so you can manage your money better
 International transactions are always reflected in Indian Rupees
 Annual fee of only Rs149

 India’s most economical US$ Travel Card: Low fees and cross-currency
exchange mark-up not applicable in U.S.
 FREE Access to over 9000 Chase ATMs in the U.S.

MOBILE BANKING
 YES Bank is going to provide its customer a service where they can
transfer money, send money and pay utility bills through their mobile
phone. This will be an addition to the existing Mobile banking facility.
 The YES BANK OBOPAY Mobile Payment Solution is a mobile payment
service by YES BANK that lets you Send, Spend and Get Money to/from
any of the 240+ million mobile phones in India (provided they are registered
users of this service and have a bank account with YES BANK or any of the
partner banks).
Process at the branch
 For getting registered on the Obopay network customer needs to fill up the
application form and submit the same at the nearest YES Bank branch.
(Application form attached)
 Branch will verify the signature of the customer against the signature present
in the FCR
 Post signature verification branch official will affix a date and time of receipt
of application along with his signatures
 Verified forms will be sent to the NOC Mumbai attention to DB Ops
team under a covering schedule

Process at NOC
 DB Ops on receipt of the forms will enter the data manually into an excel
sheet which will be sent to E funds for Virtual card generation.
 Data to be send to E funds will contain the customer details like Cust
Id, Account No., Name, Mobile No., Type of card to be issued, etc
 E funds will generate the Virtual card no. along with the PIN mailers
and forward the same to DB Ops
 DB Ops will reconcile the Card data received from Efunds against the data
forwarded to Efunds
 Virtual card no. generated will be then uploaded in the Obopay admin
module along with other customer details
(https://mtrainier.obopay.in/obopaymgmtconsole/login.do)
 Upload file is to be prepared in the attached format.
  File uploaded needs to be authorized by a verified against the customer data
NET BANKING

NET BANKING SETUP FOR RETAIL AND CORPORATE

Retail Net Banking Setup

Retail net banking setup is done for those customers who have not opted for a Debit
Card but wish to avail a Net Banking facility
Receipt of Data
 Account opening team receives the forms from the various branches for
opening the customer accounts.
 Data for customers who have not opted for Debit Card but wish to avail a
Net Banking facility is collated by the account opening team on excel.
 Data collated at Day 0 till EOD is forward to DB Ops team via mail
 DB Ops on Day 1 utilises this data for setting up of Retail Net
Banking facility for the customer through FLEX@Retail admin
module
 Customer can also submit a letter at the branch for availing net banking
facility
Branch needs to verify the signature and affix the branch stamp on the letter
which is then send across to DB Ops.
Processing of request
 Retail Net Banking Set up for the mentioned customers is done by in putter
in the retail admin
 After the setup is complete details of the customers are forwarded to
the authoriser
  Authoriser cross checks data provided by the account opening team with
the data input done in the retail admin module
On proper verification of the details the data input done is authorized

Corporate Net Banking Setup

Documents required
View Only facility
 Duly Completed Channel Registration form. (Attached below)
 Form should be signed as per the mode of operation in the
account. Transaction Access
 Duly Completed Channel Registration form
 Form should be signed as per the mode of operation in the account
 Board Resolution for net banking in Desired
Format Bulk Upload Facility
 Duly Completed Channel Registration form
 Form should be signed as per the mode of operation in the account
 Board Resolution for net banking in Desired Format
 Duly filled bulk upload forms mentioning the payment type & debit
account number signed as per the mode of operation

2. Factor Authentication
 Duly Completed Channel Registration form
 Form should be signed as per the mode of operation in the account
 2 Factor authentication should be ticked on the user profile form
 Email Id of the customer is required to be mentioned on setup form
 Setup will be done in Port wise for sending the SEED and PIN at the email
id provided by the customer
Note:
All the channel registration forms should have the company stamp
Branch to affix date and time stamp on the channel registration form

Receipt of documents
 Branch to send the complete set of form along with the checklist under a
covering schedule to DB Ops
 A soft copy of the covering schedule is also sent over email to DB Ops.
 DB Ops sends acknowledgement over e mail to the branch and updates the
record on the ftp site.
PROCESS FOR BILL PAYMENT
 YES Bank is providing its customer a service to pay their bills and make
charity/subscription payments through the Internet.
 This is an extension to the existing Internet Banking facility.
 All individual customers who have the right to conduct financial transactions
in their account are eligible for this facility.

Customer Payment Process

Customer Registration
 The customer needs to register for each Biller separately before paying the
bills through Net Banking
 For registration customer needs to submit unique identifiers as per the
specifications given by individual Biller.
 If the Biller is a Payment type biller, customer can immediately start paying
bills after successful registration
  If the Biller is a presentment type biller, then the customer will be able to
view all the bills pertaining to the said Biller from the next billing cycle, after
successful registration.
 Customer will able to view and pay presentment type bills under “View &
Pay ” option

Payment Process
 Customer can pay the bill through PAY option in the Bill Pay page
 Once the customer provides a confirmation for payment of the bill following
entry is passed by the system
 A. Customer account Dr-----------Biller account Cr
 Transactions done by Customers till 11:59:59 pm Day 0 are processed on
working Day 1.
Transactions done after 12 pm are processed on the next working day.