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    NFS Sub Member Bank

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    Abhijit Samant
    This document discusses enabling a bank to connect to the National Financial Switch (NFS) network through a sub-membership with Saraswat Bank. It outlines the basic requirements, roles and responsibilities of each party, the transaction flow, and commercial terms. Key points include the bank needing an RBI license and positive net worth to qualify, opening a settlement account with Saraswat Bank, and Saraswat Infotech providing the technology integration and support for transactions on the NFS network.

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    Download as PPT, PDF, TXT or read online from Scribd

    NFS Sub Member Bank

    Uploaded by

    Abhijit Samant
    313 views15 pages
    This document discusses enabling a bank to connect to the National Financial Switch (NFS) network through a sub-membership with Saraswat Bank. It outlines the basic requirements, roles and responsibilities of each party, the transaction flow, and commercial terms. Key points include the bank needing an RBI license and positive net worth to qualify, opening a settlement account with Saraswat Bank, and Saraswat Infotech providing the technology integration and support for transactions on the NFS network.

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    This document discusses enabling a bank to connect to the National Financial Switch (NFS) network through a sub-membership with Saraswat Bank. It outlines the basic requirements, roles and responsibilities of each party, the transaction flow, and commercial terms. Key points include the bank needing an RBI license and positive net worth to qualify, opening a settlement account with Saraswat Bank, and Saraswat Infotech providing the technology integration and support for transactions on the NFS network.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PPT, PDF, TXT or read online from Scribd
    Download as ppt, pdf, or txt
    313 views15 pages

    NFS Sub Member Bank

    Uploaded by

    Abhijit Samant
    This document discusses enabling a bank to connect to the National Financial Switch (NFS) network through a sub-membership with Saraswat Bank. It outlines the basic requirements, roles and responsibilities of each party, the transaction flow, and commercial terms. Key points include the bank needing an RBI license and positive net worth to qualify, opening a settlement account with Saraswat Bank, and Saraswat Infotech providing the technology integration and support for transactions on the NFS network.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PPT, PDF, TXT or read online from Scribd
    Download as ppt, pdf, or txt
    of 15

    Synergy Inspiration Leadership

    Sub membership to National Co-op bank Ltd of Saraswat Bank from

    NFS (NPCI Network)


    Technology support by

    Saraswat Infotech Limited


    12 March 2013 Confidential

    Synergy Inspiration Leadership

    Features
    Access to more than 82,000 ATMs across the Country (except at VISA, MASTERCARD networks) Can work as Debit Card at Merchants outlets, in near future. At least to have one ATM machine Additional service for SaaS clients of SIL Bank can earn Income through Acquirer module

    Synergy Inspiration Leadership

    Basic requirements
    Bank should be licensed by RBI Needs to have +ve net worth. Opt for sub-membership of Saraswat Bank (Saraswat Bank being Direct member will act as Sponsor bank) Apply for IIN from NPCI Execute required docs with NPCI ATM Card layout to be re-designed with RuPay logo. Open Current account (for settlements) with Saraswat Bank with Minimum amount of Rs 5 lac. Need to keep FD with Saraswat bank (5 times of Current
    a/c stipulated balance)

    Synergy Inspiration Leadership

    ATM Transaction flow under NFS connectivity

    Synergy Inspiration Leadership

    Synergy Inspiration Leadership

    Process
    IIN application to NPCI along with IIN issuance fee of Rs 9235 + Service Tax Allotment of IIN within 15 days Execute IIN License Agreement Undertaking on Rs 300/- stamp paper Finalize on Card Design and printing UAT on 8 10 Sample cards by NPCI Readiness of Setup at SIL Vashi Go live ..

    Synergy Inspiration Leadership

    Synergy Inspiration Leadership

    Sample Card design

    Synergy Inspiration Leadership

    Role & Responsibilities


    Saraswat Bank
    To accept sub membership of the bank To accept CA & FD in Settlement a/c Settlement Guarantee on behalf of sub member bank To debit CA of member bank as per the transaction report recd from NPCI on daily basis.

    Synergy Inspiration Leadership

    Role & Responsibilities


    Sub Member Bank To apply for sub membership of Saraswat bank and IIN to NPCI Execute required documents with NPCI Re-design the ATM cards with

    Participate in UAT along with SIL & NPCI Maintain required balance as per the LIMIT given Maintain its own ATM machines with Cash management To send Charge-back and complaints to SIL in reasonable time.

    RuPay logo at the right bottom on the Front side of the card SILs name & logo on the back side of the card as Powered by

    Synergy Inspiration Leadership

    Role & Responsibilities


    Saraswat Infotech Limited (SIL)
    Technology support PIN/CARD management File generation at SIL PIN printing at FIS (efunds)on blank stationery PIN offset upload at SIL Emboss file to FIS Card printing at MCT (Manipal Card Tech.) Card pick up from MCT Dispatch of Card/PIN through Courier services
    With Banks envelop To Bank HO OR Branch

    Synergy Inspiration Leadership

    Role & Responsibilities


    Saraswat Infotech Limited (SIL)
    Transactions and ATM switch monitoring Network monitoring NFS transactions reconciliation NFS Chargeback /Dispute Customer Complaint handling Hot-listing of cards on Customers request To co-ordinate with NPCI Hyderabad and Sub member bank for disputes To download MIS reports from NPCI site and forward it to sub member banks

    Synergy Inspiration Leadership

    Reports from SIL


    No. of Transactions done (Issuer/Acquirer) Issuer settlement Issuer (Chargeback, Debit adjustment, Credit adjustment, Chargeback accepted , Representment, Pre-arbitation, Pre-arbirtation representment, Debit chargeback, Debit representment, arbitration, All good faith) Acquirer (Chargeback, Debit adjustment, Credit adjustment, Chargeback accepted ,Representment, Pre-arbitation, Pre-arbirtation representment, Debit chargeback, Debit representment, arbitration ,All good faith)

    Synergy Inspiration Leadership

    Commercials -

    (exclusive of service tax)

    Transaction charges
    Cash payment Rs 18+ (50 paise for NFS) Balance Inquiry Rs 8+ (50 paise for NFS)

    Card / PIN management


    Without delivery Rs 42 per card Courier services - On actual (Agreement by the bank)

    Service charges
    First 2 months FREE Total cards issued X Rs. 20 per card per month

    Synergy Inspiration Leadership

    Thank you ! and welcome to NFS network!


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