The Ernakulam District Co-operative Bank Ltd

Transcription

1 The Ernakulam District Co-operative Bank Ltd P.B.No.4, Head Office, Kakkanad, Kochi 30. AN ISO 9001 : 2008 CERTIFIED BANK mission & vision.

2 The Ernakulam District Co-operative Bank Ltd P.B.No.4, Head Office, Kakkanad, Kochi 30. AN ISO 9001 : 2008 CERTIFIED BANK best IT initiatives.

3 Ernakulam CO-operative BAnk s Network 1. A comprehensive technology platform formulated by EDCB team through which the entire co-operative Credit institutions affiliated to the Bank are brought under a common technology platform 2. Member institutions will be able to provide all the most modern technology enabled Banking products and services to their members and account holders on a real time basis at their own office premises itself. set objectives.

4 Objectives Direct Benefit Transfer [DBT] of Govt. Subsidies, Interest subventions and other such grants into PACS customer accounts Issue RuPay Cards and Kisan Credit Cards (KCCs) to the customers of PACS Access to Delivery channels like ATM and PoS all over India for PACS customers. Provide RTGS / NEFT facilities to PACS customers, at the PACS premises itself. Retain PACS customers with PACS itself and thereby avoid migration to other banks. facilities to PACS.

5 Facilities to PACS ATM services to all PACS Account holders Rupay KCC to all the member Farmers RTGS/ NEFT services E-Commerce services POS/MPOS DBT/CTS /ECS services Mobile Passbook Services forms a financial Inclusion model.

6 Financial Inclusion best model of financial inclusion in which every person in the district can get all the modern Banking facilities through: Affiliated PACS Retail Banking Branches of PACS EDCB Branches - 65 EDCB ATM's - 47 EDCB Micro ATMs contd.

7 Financial Inclusion Total Banking outlets Increased to 868 Able to reach a Co-operative Banking outlet within 1.6 KM True Financial Inclusion and Affordable Banking implemented and inaugurated the solution.

8 Implemented and inaugurated 12 th August 2017 Inaugurated by Honorable Minister of Cooperation In the presence of CGM, NABARD Mr Sundar, Former CGM Mr Ravindranath, Special Secretary of Co-operation Government of Kerala, and RCS etc. explains the model next...

9 the model explained Components: DBT RuPay Kisan Cards (KCC), SB Mirror Accounts, RuPay Debit Crads, NEFT / RTGS to PACS epassbook explains technology..

10 the technology The IT-led model for mirroring PACS accounts and integrating DBT with Aadhaar-enabled SB accounts and RuPay Cards. To operationalize this model, the IT-team of EDCB developed a set of software applications called the Mirror [Server] and Mirror [Client]. With these applications, a customer of PACS can open an Aadhaarenabled SB / KCC account at the PACS-level itself, Get access to a RuPay Debit card, transfer funds using NEFT/RTGS Perform transactions at inter-operable ATMs/Micro ATMs Able to use the Debit Card at merchant establishments. I PACS customer can access to a whole new world of technology-enabled banking services never experience before! in-house developed software..

11 the software KCC Mirror Software (Server) a bridge with the Accounts in the PACS software and the Mirror accounts in EDCB KCC Mirror Software (Client) installed in every PACS branches, through which the transaction entered synchronises with Mirror Accounts in EDCB Books and those in PACS books. model pictorialised.

12 K Y C : DBT Account Opening Synchronised EDCB SWITCH DBT The Ernakulam District Co-operative Bank Ltd [EDCB] EDCB SERVER FINACLE HOST Debit - CD with RBI A/c RBI / Govt. Credit - SB SOC [DBT] Individuals NPCI [DBT] Debit - SB SOC [DBT] Individuals Credit - CD SOC [DBT] A/c NPCI [NFS] ATM ATM POS POS KCC HOST BANCS ATM POS Debit - CD [DBT] with EDCB ATM POS Credit - SB [DBT] Individuals KCC Individual Accounts PACS Branch PACS Customers KCC Rupay Cards PACS Customers NEFT /RTGS PACS Customers Rupay Debit Cards PACS Customers PACS and EDCB Customers

13 SB/KCC Mirror accounts PACS customers open Mirror accounts [separately for SB and KCC] in the EDCB with proper KYC, through PACS branches RuPay ATM cards and RuPay Kisan Cards [for SB/KCC accounts, as the case may be] will be issued on these accounts and will be delivered to PACS customers through the respective PACS branches. These cards can be operated from any of the RuPay enabled ATM/PoS across India. PACS has to maintain a CD Settlement Account with EDCB for settling the transactions happening through the ATM/PoS. flows the transaction.next

14 Mirror Accounts: Transaction Flow component : DBT... next...

15 DBT to PACS Members The Direct Benefit Transfer initiative of the GoI. Make available Government benefits and subsidies directly to the bank accounts of the beneficiaries. PACS, not being banks, are able to extend modern banking facility to its customers. Able to retain their Customers in the Co-operative fold. Hence a solution...next...

16 Synchronised DBT Process DBT/ KCC/ RUPAY The Ernakulam District Co-operative Bank Ltd [EDCB] DBT FLOW Debit - CD with RBI A/c Debit - KCC SOC Limit A/c Credit - SB SOC [DBT] Individuals Debit - SB SOC [DBT] Individuals Credit - CD SOC [DBT] A/c FINACLE HOST Debit - CD [DBT] with EDCB Credit - SB [DBT] Individuals K C C HOST KCC Accounts Rupay Cards KCC Rupay Cards

17 DBT to PACS Members PACS customers who are in need of LPG subsidies should have a bank account in a CBS-enabled bank, whereas their existing PACS account is not so. To facilitate such customers, EDCB developed and offered this software component in its existing KCC/SB Mirror Project and implemented live. By opening the mirror accounts, the PACS customers get a CBS-enabled bank account which can be seeded with their Aadhaar number to get the benefit of DBT payouts. The process follows...

18 DBT: Transaction flow dbt procedure... next...

19 DBT : the procedure PACS customers should submit the DBT Mandate to EDCB through their PACS branch, while opening the Mirror account. Once the Mandate is processed at the EDCB, the account will be seeded with Aadhaar number and is valid to avail DBT credits then onwards directly into these accounts. The credits will be passed to PACS through its CD settlement A/c. The bank has identified Union Bank of India (UBI) as their Sponsor Bank for providing DBT and to onboard on APBS platform. Component NEFT/RTGS... next...

20 NEFT/RTGS to PACS members EDCB is already a sub-member for NEFT/RTGS with Union Bank of India (UBI), hence all such transactions will be routing through UBI server to the Beneficiary accounts of other Banks and vice versa. The same CD Settlement opened for KCC/SB Mirror scheme by PACS in EDCB will be used for NEFT settlement also. neft/rtgs process flow... next...

21 NEFT/RTGS: Process flow neft/rtgs procedure... next...

22 NEFT/RTGS: procedure PACS customers who want to send NEFT/RTGS will approach their PACS counter and initiate the NEFT/RTGS transaction. The transaction entered through (Client) software will reach the (Server) at EDCB DataCenter and routes to UBI Server. The transaction will be treated as if the same is initiated from EDCB counter, which is virtually extended to the PACS counter. Customer approaches PACS, fills in the form and handover to the PACS staff Using the Software provided by EDCB, the PACS staff creates the RTGS /NEFT details like IFSC Code beneficiary account number, sender mobile no., etc. Checker user in the PACS verifies the details entered by the maker, after which, the details will be transmitted to EDCB HO Server from where it will be routed to UBI server through the Bank's NEFT/RTGS Messaging system and funds transfer effected. : present status... next...

23 Present Status (as on 15th December 2017) Number ofpacs [computerised] 164 Number of PACS running LIVE in the project 85 Number of PACS Branches [computerised] 492 Number of PACS Branches running LIVE 320 Number of PACS accounts [Live] with Cards 18,887 Expected Date to bring remaining PACS into Live Status Expected Date to bring remaining accounts to Live Status 31-January January-2018 : the impact... next...

24 The Impact A remarkable increase in the Low Cost Deposits is observed as the PACS became successful in arresting migration of customers to other technology-enabled banks. To overcome the challenges of demonetization, and to promote cashless transactions, Bank has implemented Mirror Accounting System in PACS and supplied RuPay cards to PACS customers. It enabled the PACS to stop the migration of their customers to other Banks as well provide the customers a national Reach for transacting at ATMs and other delivery channels. concludes.

25 Thank You The Ernakulam District Co-operative Bank Ltd [ EDCB ] D:/BijuPhilip/DBT/ KCC Mirror/ The Ernakulam District Co-operative Bank Ltd [EDCB]