The Real Time Gross Settlement (RTGS) System and National Electronic Fund Transfer (NEFT) aims to do what email did for the post card. Instead of sending instructions for payments through cheques ( Paper base clearing), with RTGS / NEFT system banks can route payments through on messages to RBI's RTGS / NEFT gateways.
As electronic messages move instantaneously the transactions can be concluded immediately unlike in the case of cheque clearing. In RTGS / NEFT environment the payer has to inform his bank to debit his account and credit the payee's (beneficiary) account with an equivalent amount. With RTGS/NEFT, money would move faster and transactions would be settled faster and payee would have funds in his account within a maximum time- frame of two hours incase of RTGS and T+1 in case of NEFT of the settlement.
RTGS / NEFT are electronic payment systems of Reserve bank of India which provides online settlement between participating banks continuously throughout the day. Using RTGS and NEFT customers of the bank can make payment to the beneficiary's account in another bank. RTGS / NEFT facilitate the funds transfer across the banks and branches . At present 95+ banks and nearly 56000 branches are under these systems.
For sending the funds through the RTGS/ NEFT all you have to do is fill and sign the funds transfer instruction FORM (available at branches and on website) along with all the necessary details, such as Name of the beneficiary, name of the bank and branch, account number and type, IFSC code of the beneficiary's bank. For receipt of the funds your need to give the IFSC code of our bank and branch to the remitter of the funds.
The unique feature of these systems is unlike other clearing system funds can be transferred or received just in time (as above)
After the instructions are received in prescribed form, duly signed in we will remit the funds through RTGS and NEFT and funds will be credited to beneficiary's account.
IFSC Code :
Bank Name
IFSC Code
MICR Code
Branch Name
Postal Address of Branch
Contact No
Centre
District
State
The Citizen Co-op. Bank Ltd.
HDFC0CTZNBK
403639003
Vasco-Da-Gama
Lakshdeep Apartments, Near Damodar Temple, Vasco-Da-Gama - 403802
0832-2512745
VASCO-DA-GAMA
South Goa
Goa
The Citizen Co-op. Bank Ltd.
HDFC0CTZNBK
403639004
Aquem-Baixo
Kudtarkar Modern Homes, Rawanfond, P.O. Navelim - 403707
0832-2512765
AQUEM-BAIXO
South Goa
Goa
The Citizen Co-op. Bank Ltd.
HDFC0CTZNBK
403639006
Canacona
Mangalvan Complex, Chaudi, Canacona - 403702
0832-2643914
CANACONA
South Goa
Goa
The Citizen Co-op. Bank Ltd.
HDFC0CTZNBK
403639005
Margao
Dalal Commercial Complex, Opp. Hari Mandir, Margao - 403601
0832-2704471
MARGAO
South Goa
Goa
The Citizen Co-op. Bank Ltd.
HDFC0CTZNBK
403639002
Panaji
Srirang Mansion, Next To Edc House, Dr. A. B. Road, Panaji - 403001
0832-2425602
PANAJI
North Goa
Goa
The Citizen Co-op. Bank Ltd.
HDFC0CTZNBK
403639007
Ponda
Akash Darshan, Kaziwado, Ponda - 403401
0832-2318847
PONDA
North Goa
Goa
Account Number is a 15 digit number and has 3 parts as under :-
Branch Code (3 digits)
Product Code (4 digits)
Account Number (8 digits)
Branch Code :
002
Vasco-da-Gam Branch
003
Aquem-Baixo Branch
004
Canacona Branch
005
Margao Branch
006
Panaji Branch
007
Ponda Branch
Product Code :
SBA
Savings Bank Account
0011
CRA
Current Account (General)
0012
CRP
Current Account (Premium)
1012
CCL
Cash Credit Account
0013
CCLS
Clean Cash Credit
1013
ODA
Overdraft Account
0014
ODF
Overdraft Account Against FD
Example :
My passbook shows SBA/7560
My Branch is Vasco-da-Gama Branch
Then my CBS A/c No. is as under :
Branch Code (3 digits) 002
Product Code (4 digits) 0011
Account Number (8 digits) 00007560
CBS A/c No. is 002001100007560
My passbook shows CRA/7560
My Branch is Margao Branch
