Other Services

Demand Drafts

A demand draft is a negotiable instrument similar to a bill of exchange. A bank issues a demand draft to a client (drawer), directing another bank (drawee) or one of its own branches to pay a certain sum to the specified payee.

A demand draft can also be compared to a cheque. However, demand drafts are difficult to countermand. Demand drafts can only be made payable to a specified party, also known as pay to order. But, cheques can also be made payable to the bearer. Demand drafts are orders of payment by a bank to another bank, whereas cheques are orders of payment from an account holder to the bank.

Bankers Cheque

Bankers cheque, as the name suggests, is a cheque issued by the issuing banker and payable locally, in return of a charge known as ‘Exchange’ which is payable by the person who wants a Bankers cheque to be prepared by his bankers. The person who wants a bankers cheque to be prepared can either pay to his bankers by cash or from his bank account.

Bank issue banker cheque for transfer of money. Is a substitute of Bank Draft, and differ from Ordinery cheque. Coz banker cheque will issue only if u have sufficent fund and just after issue of banker cheque cheque amount will be deducted from ur account.


Lockers are small boxes which have a pair of keys. One pair is with the bank and the other is with the customer. Unless both keys are used simultaneously the locker won’t open. Also, these lockers are kept in a room that is guarded heavily and has solid iron doors or concrete walls around it. It is literally impossible to force our way into the locker room without having the key to the doors.

Safe deposit lockers facility is one of the ancillary services extended by bank at our branches.The locker units will be leased out to customers after obtaining adequate KYC documents.The relationship between the banker and the customer of a locker is that of lessor and lessee.

Core Banking

A core banking system is the software used to support a bank’s most common transactions. Core banking functions differ depending on the specific type of bank. Retail banking, for example, is geared towards individual customers; wholesale banking is business conducted between banks; and securities trading involves the buying and selling of stocks, shares and so on.

Core banking systems are often specialized for a particular type of banking. Products that are designed to deal with multiple types of core banking functions are sometimes referred to as universal banking systems.

Real Time Gross Settlement(RTGS)

The acronym ‘RTGS’ stands for Real Time Gross Settlement, which can be defined as the continuous (real-time) settlement of funds transfers individually on an order by order basis (without netting). ‘Real Time’ means the processing of instructions at the time they are received rather than at some later time; ‘Gross Settlement’ means the settlement of funds transfer instructions occurs individually (on an instruction by instruction basis). Considering that the funds settlement takes place in the books of the Reserve Bank of India, the payments are final and irrevocable.

The RTGS system is primarily meant for large value transactions. The minimum amount to be remitted through RTGS is ` 2 lakh. There is no upper ceiling for RTGS transactions.

National Electronic Funds Transfer (NEFT)

The full form of NEFT is “National Electronic Funds Transfer (NEFT). The NEFT is a nation wide payment system facilitating one-to-one funds transfer. Under this system, individuals, firms and corporates can electronically transfer funds from any bank branch to any individual, firm or corporate having an acount with any other bank branch in the country participating in the system.

NEFT is an electronic fund transfer system that operates on a Deferred Net Settlement (DNS) basis which settles transactions in batches. In DNS, the settlement takes place with all transactions received till the particular cut-off time. These transactions are netted (payable and receivables) in NEFT whereas in RTGS the transactions are settled individually.