The Cuttack Urban Cooperative Bank limited on Monday added two more feathers to its cap when it launched the National Electronics Funds Transfer (NEFT) and Real Time Gross Settlement (RTGS) systems for the benefit of the bank’s three lakh customers and 65,000 shareholders. launching the two systems with support of the Yes Bank, the Urban Bank’s newly-elected president Sarat Chandra Pradhan informed that the bank is now fully computerised to provide core banking solutions (CBS) within a week. ATM facilities for the customers would also be available soon, he said.
He said the bank’s customers can now transfer their funds through NEFT and RTGS from any of its 18 branches to any branch of other banks across the country within no time. “While NEFT facilitates small value transfers at least 12 times a day, RTGS is for large value transfers of Rs2 lakh and more continuously throughout the day,” said a bank official.
The bank’s new board headed by Pradhan took charge in February this year and the board members are determined to register substantial profit and reduce its NPA in the ongoing fiscal after registering a loss for the for the first time last year in its 31 years of existence. The State Government had taken over the bank’s management last year after dismissing the elected board.