Transaction Banking Unit - Business

Brief History And Accolades

Cash Management Product offered by Transaction Banking Unit in SBI is operational since 1997. Formally launched in 1998 to cater to the needs of Oil Marketing Companies viz: IOCL, BPCL, HPCL etc. This was soon expanded to other corporate clients too. We entered in Govt. Business in 2007 by catering to CBDT (ITRO: Income Tax Refund Order) and became Sole Refund banker.

SBI Transaction Banking and CMP has earned recognition internationally by way of 2 awards in 2021 for the Transaction Banking space

• The Best Transaction Bank in India by The Asian Banker
• The Best Payment Bank in India by The Asian Banker

Solutions Provided By Us To Corporates

Cash Management Product of SBI is a technology driven platform for Bulk Transaction processing requirements (Collection and Payments) for Clients. It allows clients to have effective treasury management and efficient capital utilization. Among the Transaction Banking solutions provided to our clients by us are the following notable facilities

• Collection of bulk cash and cheques across pan-India with customized MIS for easy reconciliation
• Collection of funds through electronic modes NACH, Direct Debit, e-Mandate and e-NACH with customized MIS for EMI, SIP or regular payment collection
• Realtime collection products which make entire SBI Branches available for collection needs of a client
• Customized payment solutions like special portal for faster processing of payments, integration with client’s ERP for processing of payments and providing API based system
• Customized MIS to suit client’s IT requirements
• Liquidity Management to manage funds across multiple accounts efficiently.
• Execution of Dividend Warrant payments
• Dedicated client support to facilitate the collection and payment processes

Collection Products

Cash/Cheque Collection & Deposition

• Robust and scalable technology platform along with largest branch network in India
• Collection /Deposition of cash/cheque in pooling account
• Customized MIS on Daily & Monthly basis, facilitating smooth and effective reconciliation
• Single point of contact and escalation matrix for any issues related to Transaction Banking facilities
• Best agencies empaneled for pick up.
• SME Cash Pickup to cater to small corporates/ proprietorships

E-Collection

Collection through RTGS/NEFT/Direct Credit/Cheque using Virtual Account Number (VAN). Virtual Account Number (VAN) enables fast, secure and traceable source of funds.

• Collection in pool account through RTGS/NEFT/DCR/Cheques
• Short VAN with Alphanumeric character
• Masking of original account number of the Client
• Both static and dynamic creation of dealer/customer specific VAN is feasible
• Customized MIS with narration field available for easy reconciliation

Digi Dealer

• Uses mobile application to collect information regarding cash collection and generates voucher for the same
• Cash deposition in all SBI Branches, presently 22,000+ Branches pan-India
• Real Time credit to Client’s pool account
• No Need to input SBI Pool Account No. by Client’s depositors
• Masks the 11-digit SBI Account No. of Client
• Real time Management Information System (MIS) Reports

Nach & Mandate Based Direct Debit

• Registration of Mandates for Corporates for SBI as well as other Bank account holders
• Instant, online and secure receipt of Collections
• Prompt & Customized MIS reports
• Opens a large customer base of the Bank to the Corporates for fast settlement of funds enabling efficient working capital management

E-Mandate

• E-mandate allows registration of mandates online by internet login or Debit cards
• Dedicated portal for uploading transactions
• Transactions possible during Bank holidays also
• Reduces TAT for registration and eliminates rejection of Mandates due to signature mismatch

Easy Collect

• Collections of receivables with online validations by the Clients Server across entire network of SBI Branches for through cash/cheques. Mostly used by Insurance Companies. Can be extended to Telephone Cos, Educational Institutions.
• Best suited when volumes of receivables are huge & spread into remote locations
• Leverages technology and widespread large branch network of the bank for faster receipt of funds and instant reconciliation
• Real Time validation of collection amount / premium details and validations of other details of collection as required by the Client, through web interface
• MIS will be sent as per requirement of Corporate through Portal / H2H (Host to Host)

Power Jyoti Pre Upload (Power Jyoti Pul) For Nbfcs

• Deposit/transaction of Collections / installments in Cash and Transfer only through designated agent / employee of the Client
• Cash deposition in all SBI Branches
• Collections will be pooled in one account and MIS of collection made available to company in desired format
• Mainly covering customers with small ticket size collections

Liquidity Management

• Sweep & Reverse Sweep Mechanism in multiple accounts of same corporate maintained with SBI
• Facilitates interest saving & Efficient management of funds for Corporate
• Debit balances also can be swept if day light limits are fixed
• Reverse sweeps also done from one account to several accounts
• Customized MIS facility available

Payment Products

E-payments: Rtgs / Neft / Direct Credit

• Comprehensive, user friendly and customized single file format for all types of payouts
• Authorization based on authorization matrix shared by the Client
• Data sharing through secure channels: Portal/Host to host utility/SFTP
• Availability of SAP Extraction and Integration features
• Ease of reconciliation by providing ERP compatible MIS reports
• Customized payment advices to the customer and to the corporate
• Dedicated Client Services officers for client support and resolution of issues

Ccpap And Demand Drafts

• Centralized bulk printing of Multicity cheques (CCPAPs – Corporate Cheques Payable at par) as well as Bulk Drafts printing
• Online validation of the Instrument number, Amount and Drawer account number before clearing, to avoid fraudulent payments
• Customized advice to the company
• Option of facsimile/digital signature available for instrument size up to Rs. 10 Lakhs.
• Regular paid/unpaid status and Reconciliation reports is provided
• Bulk payment requests processed within a day and dispatched to corporates.

Dividend Warrants

• Dividend /principal redemption/interest payout can be done using SBI multi payment options like RTGS / NEFT, DCR (SBI to SBI fund transfer), Dividend Warrants, Demand Drafts, SWIFT, Dollar Demand Drafts etc.
• Account opening is done in home branch within a day
• Instant return and reconciliation report available
• DDs can be issued immediately for any transaction failure/returns
• Skilled and dedicated team for this special task