Safe Deposit Locker
Safe Deposit Locker facilities has also been provided by the bank in its Main branch at M.G. Avenue, Imphal at comparatively very low rent. Arrangement for providing similar facilities in other branches are also already on the agenda.
RTGS
The acronym ‘RTGS’ stands for Real Time Gross Settlement. It’s a technique for transferring money that allows for gross transfers that happen in real time. Settlement risk is decreased in this system since transactions are settled individually rather than in batches or nets. Large-value transactions requiring instantaneous clearing and settlement, including interbank transfers or high-value corporate transactions, are frequently handled via RTGS.
NEFT
The acronym ‘NEFT’ stands for National Electronic Funds Transfer. It makes possible to electronically move money between bank accounts. Unlike RTGS, which processes transactions instantly, NEFT processes its transactions in batches at predetermined times of the day. Smaller quantities of money are usually transferred using this method between accounts housed in various banks or branches across the nation.
IMPS
The acronym ‘IMPS’ stands Immediate Payment Service. It’s an Indian interbank electronic cash transfer service that makes it possible to send money instantly between bank accounts around-the-clock, even on holidays. Through IMPS, people may transfer money between ATMs, bank branches, internet banking, and mobile devices. It’s especially helpful for small-value payments and urgent transactions that need to be settled right away. IMPS transactions are completed in a matter of seconds and are handled in real-time. Because of this service’s accessibility, quickness, and ease of use, it has grown in popularity.