Majority of the RRBs have migrated to CBS (Core Banking System). To leverage the full benefits of CBS, RRBs have to roll out Safe ePayment modules.
RRB customers are willing to migrate from paper based transactions to electronic based transactions provided that they are assured the safety of their account balances.
As a steps toward Safe ePayment Modules, NPCI (National Payments Corporation of India) and NABARD (National Agricultural Bank for Rural Development) are conducting two day workshops, with a focus on procedural guidelines for various electronic payment products available in our country.
It might be noted that as a result of amalgamation, number of the RRBs has been reduced from 196 to 64 as on 31 March 2013. However the number of branches of RRBs increased to 17856 as on 31 March 2013 covering 635 districts throughout the country. The amalgamation exercise is expected to enhance the operational efficiencies of the RRBs.
Out of the present 56 RRBs present in our country, 47 RRBs are part of the NPCIs NFS (National Financial Switch) network. A NFS member can access the NPCIs ATM network, as well as other electronic payment products viz CTS, NACH, IMPS.