Cash Management Product offered by Transaction Banking Department 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
Best Transaction Bank in India by The Asian Banker
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
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 empanelled for pick up.
SME Cash Pickup to cater to small corporates/ proprietorships
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
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 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
Aggregator or Merchant Aggregator is a service provider who aggregates and provides various payment acceptance services to the merchants.
SBIePay provides complete, simple and secure online Payment Gateway Services, with a real-time Credit Card, Debit Card, Net Banking and Mobile Payment transaction validation process.
SBIePay is certified with Payment Card Industry Data Security Standard (PCI DSS)
Direct integration with major public & private Bank’s Net-banking service and BHIM SBI Pay for collection of funds using UPI channels.
E.g., Payment Link on Merchant websites like HPCL, IOCL etc.
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
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
Customized MIS facility available
E-payments: RTGS / NEFT/ Direct Credit
Comprehensive, user friendly and customized single file format for all types of pay-outs
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
Decentralised printing of cheques at Clients single location or multiple location using the MICR enabled or laser printer.
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. 100 Lakhs.
Regular paid/unpaid status and Reconciliation reports is provided
Bulk payment requests processed within a day and dispatched to corporates.
Dividend /principal redemption/interest pay-out 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
D&TB Solutions SUB-PARAMETER
CHEQUE COLLECTION/ VAN CLEARING
CTS -Cheques (Clear Funds)
CTS -Cheques (Clear Funds)
₹ 0.04 per ₹ 1000
Minimum ₹ 10/- per instrument
CTS -Cheques (Unclear Funds) or Guaranteed Credit (GC) on T+1 basis. GC to be carved out from existing Cash Credit limit / by way of lien on Current Account by concerned Branch.
CTS -Cheques (Unclear Funds)
₹ 0.06 per ₹ 1000
Minimum ₹ 10/- per instrument
Outstation Cheque Collection (on Actual realization basis)
Outstation cheques - Clear Funds (Including Speed
₹100/- per instrument
Cheques Drawn on SBI
Deposition – All locations
₹ 0.02 / ₹ 1000 Min. ₹ 5 /- per instrument
Cheque Return Charges
(Local Clearing/ Outstation collections/SBI Cheque – All locations)
For cheques deposited with us returned unpaid
₹150/- per cheque for cheque amount up to ₹ 1 Lakh and
₹ 250/- per cheque for cheque amount more than ₹ 1 lakh
For cheques drawn on us returned for technical reasons (not to be charged where customer is not at fault as per RBI guidelines)
₹150/- per cheque
E-Collection including VAN Collections (Electronic Collection)
Inward RTGS/NEFT/ DCR
(SBI to SBI Transfer) All locations
₹ 3.00 per transaction
Cash Deposition (Direct Cash Deposition by Clients/Digi-dealer/VAN-Cash)