the ernakulam district co-operative bank ltd
TRANSCRIPT
The Ernakulam District Co-operative Bank Ltd.
The Ernakulam District Co-operative Bank LtdP.B.No.4, Head Office, Kakkanad, Kochi 30.
AN ISO 9001 : 2008 CERTIFIED BANK
mission & vision ….
The Ernakulam District Co-operative Bank Ltd.
The Ernakulam District Co-operative Bank LtdP.B.No.4, Head Office, Kakkanad, Kochi 30.
AN ISO 9001 : 2008 CERTIFIED BANK
best IT initiatives….
ECOBANetErnakulam CO-operative BAnk’s Network
1. A comprehensive technology platform formulated by EDCB team through which the entire co-operative Credit institutions affiliated to the Bank are brought under a common technology platform
2. Member institutions will be able to provide all the most modern technology enabled Banking products and services to their members and account holders on a real time basis at their own office premises itself.
The Ernakulam District Co-operative Bank Ltd.
set objectives ….
• Direct Benefit Transfer [DBT] of Govt. Subsidies, Interest subventions and other such grants into PACS’ customer accounts
• Issue RuPay Cards and Kisan Credit Cards (KCCs) to the customers of PACS
• Access to Delivery channels like ATM and PoS all over India for PACS’ customers.
• Provide RTGS / NEFT facilities to PACS’ customers, at the PACS premises itself.
• Retain PACS customers with PACS itself and thereby avoid migration to other banks.
The Ernakulam District Co-operative Bank Ltd.
ECOBANet
Objectives
facilities to PACS ….
• ATM services to all PACS Account holders
• Rupay KCC to all the member Farmers
• RTGS/ NEFT services
• E-Commerce services
• POS/MPOS
• DBT/CTS /ECS services
• Mobile Passbook Services
The Ernakulam District Co-operative Bank Ltd.
ECOBANet
Facilities to PACS
forms a financial Inclusion model ….
best model of financial inclusion in which every person in the district can get all the modern Banking facilities through:
• Affiliated PACS - 164
• Retail Banking Branches of PACS - 492
• EDCB Branches - 65
• EDCB ATM's - 47
• EDCB Micro ATMs - 100
The Ernakulam District Co-operative Bank Ltd.
ECOBANet
Financial Inclusion
contd ….
• Total Banking outlets Increased to 868
• Able to reach a Co-operative Banking outlet within 1.6 KM
• True Financial Inclusion and
• Affordable Banking
The Ernakulam District Co-operative Bank Ltd.
ECOBANet
Financial Inclusion
implemented and inaugurated the solution ….
• Inaugurated by Honorable Minister of Co-operation
• In the presence of CGM , NABARD Mr Sundar , Former CGM Mr Ravindranath ,
• Special Secretary of Co-operation Government of Kerala, and RCS etc.
The Ernakulam District Co-operative Bank Ltd.
ECOBANet
Implemented and inaugurated 12th August 2017
explains the model ……next...
Components:• DBT • RuPay Kisan Cards (KCC), • SB Mirror Accounts, • RuPay Debit Crads, • NEFT / RTGS to PACS • ePassBook
explains technology …..
The Ernakulam District Co-operative Bank Ltd.
ECOBANet
the model explained
• The IT-led model for mirroring PACS accounts and integrating DBT with Aadhaar-enabled SB accounts and RuPay Cards. To operationalize this model, the IT-team of EDCB developed a set of software applications called the
• “Mirror [Server]” and “Mirror [Client]”.
• With these applications, a customer of PACS can open an Aadhaar-enabled SB / KCC account at the PACS-level itself,
• Get access to a RuPay Debit card, transfer funds using NEFT/RTGS • Perform transactions at inter-operable ATMs/Micro ATMs • Able to use the Debit Card at merchant establishments. I• PACS customer can access to a whole new world of technology-enabled
banking services never experience before!in-house developed software …..
The Ernakulam District Co-operative Bank Ltd.
ECOBANet
the technology
“KCC Mirror Software (Server)” a bridge with the Accounts in the PACS software and the Mirror accounts in EDCB
“KCC Mirror Software (Client)” installed in every PACS branches, through which the transaction entered synchronises with Mirror Accounts in EDCB Books and those in PACS books.
model pictorialised ….
The Ernakulam District Co-operative Bank Ltd.
ECOBANet
the software
EDCB SERVER
KCC HOST
FINACLE HOST
The Ernakulam District Co-operative Bank Ltd [EDCB]
Debit - CD [DBT] with EDCBSyn
chro
nis
edDebit - CD with RBI A/c
Credit - SB SOC [DBT] Individuals
Debit - SB SOC [DBT] Individuals
Credit - SB [DBT] Individuals
Rupay Debit Cards
KCC Individual Accounts
KCC Rupay Cards
EDC
B S
WIT
CH
NPCI [DBT]
NPCI [NFS]
DB
T
BANCS
ATM
POS
POS
ATM
ATM POS
ATM POS
PACS Branch
PACS Customers
PACS and
EDCB CustomersPACS
CustomersPACS Customers
RBI / Govt.
Credit - CD SOC [DBT] A/c
K Y
C :
D
BT
Acc
ou
nt
Op
enin
g
NEFT /RTGS
PACS Customers
PACS customers open Mirror accounts [separately for SB and KCC] in the EDCB with proper KYC, through PACS branches
“RuPay ATM cards” and “RuPay Kisan Cards” [for SB/KCC accounts, as the case may be] will be issued on these accounts and will be delivered to PACS customers through the respective PACS branches.
These cards can be operated from any of the RuPay enabled ATM/PoS across India.
PACS has to maintain a “CD Settlement Account” with EDCB for settling the transactions happening through the ATM/PoS.
The Ernakulam District Co-operative Bank Ltd.
ECOBANet
SB/KCC Mirror accounts
flows the transaction ….next…
The Ernakulam District Co-operative Bank Ltd.
ECOBANet
Mirror Accounts: Transaction Flow
component : DBT .... next ...
• The Direct Benefit Transfer initiative of the GoI.
• Make available Government benefits and subsidies directly to the bank accounts of the beneficiaries.
• PACS, not being banks, are able to extend modern banking facility to its customers .
• Able to retain their Customers in the Co-operative fold.
Hence a solution ....next...
The Ernakulam District Co-operative Bank Ltd.
ECOBANet
DBT to PACS Members
DBT FLOW
Credit - CD SOC [DBT] A/c
Debit - CD [DBT] with EDCBDB
T P
roce
ss
Syn
chro
nis
ed
Debit - CD with RBI A/c
Credit - SB SOC [DBT] Individuals
Debit - SB SOC [DBT] Individuals
Credit - SB [DBT] Individuals
FINACLE
HOST
K C C
HOST
Rupay Cards
KCC Accounts
KCC Rupay Cards
Debit - KCC SOC Limit A/c
DBT/ KCC/ RUPAY The Ernakulam District Co-operative Bank Ltd [EDCB]
• PACS customers who are in need of LPG subsidies should have a bank account in a CBS-enabled bank, whereas their existing PACS account is not so.
• To facilitate such customers, EDCB developed and offered this software component in its existing KCC/SB Mirror Project and implemented live.
• By opening the mirror accounts, the PACS customers get a CBS-enabled bank account which can be seeded with their Aadhaar number to get the benefit of DBT payouts.
The process follows...
The Ernakulam District Co-operative Bank Ltd.
ECOBANet
DBT to PACS Members
The Ernakulam District Co-operative Bank Ltd.
ECOBANet
DBT: Transaction flow
dbt procedure.... next ...
• PACS customers should submit the DBT Mandate to EDCB through their PACS branch, while opening the Mirror account.
• Once the Mandate is processed at the EDCB, the account will be seeded with Aadhaar number and is valid to avail DBT credits then onwards directly into these accounts.
• The credits will be passed to PACS through its CD settlement A/c. The bank has identified Union Bank of India (UBI) as their Sponsor Bank for providing DBT and to onboard on APBS platform.
The Ernakulam District Co-operative Bank Ltd.
ECOBANet
DBT : the procedure
Component NEFT/RTGS.... next ...
• EDCB is already a sub-member for NEFT/RTGS with Union Bank of India (UBI), hence all such transactions will be routing through UBI server to the Beneficiary accounts of other Banks and vice versa.
• The same CD Settlement opened for KCC/SB Mirror scheme by PACS in EDCB will be used for NEFT settlement also.
The Ernakulam District Co-operative Bank Ltd.
ECOBANet
NEFT/RTGS to PACS members
neft/rtgs process flow.... next ...
The Ernakulam District Co-operative Bank Ltd.
ECOBANet
NEFT/RTGS: Process flow
neft/rtgs procedure .... next ...
• PACS customers who want to send NEFT/RTGS will approach their PACS counter and initiate the NEFT/RTGS transaction. The transaction entered through (Client) software will reach the (Server) at EDCB DataCenter and routes to UBI Server. The transaction will be treated as if the same is initiated from EDCB counter, which is virtually extended to the PACS counter.
• Customer approaches PACS, fills in the form and handover to the PACS staff• Using the Software provided by EDCB, the PACS staff creates the RTGS /NEFT
details like IFSC Code beneficiary account number, sender mobile no., etc.• Checker user in the PACS verifies the details entered by the maker, after which, the
details will be transmitted to EDCB HO Server from where it will be routed to UBI server through the Bank's NEFT/RTGS Messaging system and funds transfer effected.
The Ernakulam District Co-operative Bank Ltd.
ECOBANet
NEFT/RTGS: procedure
ECOBANet: present status.... next ...
The Ernakulam District Co-operative Bank Ltd.
Number of PACS [computerised] 164
Number of PACS running LIVE in the project 85
Number of PACS Branches [computerised] 492
Number of PACS Branches running LIVE 320
Number of PACS accounts [Live] with Cards 18,887
Expected Date to bring remaining PACS into Live
Status
31-January-2018
Expected Date to bring remaining accounts to
Live Status
31-January-2018
ECOBANet
Present Status (as on 15th December 2017)
ECOBANet: the impact .... next ...
• A remarkable increase in the Low Cost Deposits is observed as the PACS became successful in arresting migration of customers to other technology-enabled banks.
• To overcome the challenges of demonetization, and to promote cashless transactions, Bank has implemented Mirror Accounting System in PACS and supplied RuPaycards to PACS’ customers. It enabled the PACS to stop the migration of their customers to other Banks as well provide the customers a national Reach for transacting at ATMs and other delivery channels.
The Ernakulam District Co-operative Bank Ltd.
ECOBANet
The Impact
concludes….