IMPS is an emphatic service which allow transferring of funds instantly within banks across India which is not only safe but also economical. IMPS service is used to transfer funds within INDIA with denominations of INR only. As per NPCI circular, the maximum amount that can transferred is Rs 2 Lakhs per transaction. Any transaction more than Rs 2 Lakhs will not get processed and will be credited back into your account. To carry out an IMPS transfer, the details required are beneficiary name, account number, branch name and IFSC code. Customers can also send and receive money through IMPS using a Mobile Money Identification Number (MMID) and mobile number. Customers can send funds using MMID as well as IFSC.

RuPay Debit Card Facility

RuPay is the first-of-its-kind domestic Card payment network of India, with wide acceptance at ATMs, POS devices and e-commerce websites across India. It is a highly secure network that protects against anti-phishing. RuPay Cards will address the needs of Indian consumers, merchants and banks. The benefits of RuPay debit card are the flexibility of the product platform, high levels of acceptance and the strength of the RuPay brand-all of which will contribute to an increased product experience.


Safe Deposit Locker facility is one of the value added services provided by the Bank to its customers. Bank provides specially designed lockers purchased from reputed manufactures which are kept at specially built strong rooms at branches for keeping the valuable of hirers. Banking customer pays locker rent for keeping their valuables in the safe place. Landlord collects rent from tenant and is not responsible for theft inside the house. Similarly, bank does not check what you keep inside the locker and thus the actual amount of loss cannot be ascertain and compensate. Safe Deposit Lockers may be hired by an individual (being not a minor) singly or jointly with another individual(s), HUFs, firms, limited companies, associates, societies, trusts, etc. Nomination facility is available to individual(s) holding the lockers singly or jointly. In respect of lockers held in joint names, up to two nominees can be appointed. Joint locker holders can give mandate for access to the lockers in the event of death of one of the holders on the lines similar to those for deposit accounts.


Cheque Truncation System (CTS) is a process of clearing cheques electronically rather than processing the physical cheque by the presenting bank en-route to the paying bank branch. It is a step undertaken by the Reserve Bank of India (RBI) for quicker cheque clearance. Offering Cheque Truncation System (CTS) is a step in this direction. In addition to operational efficiency, CTS offers several benefits to banks and customers, including human resource rationalisation, cost effectiveness, business process re-engineering, better service, adoption of latest technology, etc. A cheque truncation system promotes the processing of a cheque electronically through the Magnetic Ink Character Reader (MICR) data and a scanned image. The physical cheque is not required.

Andaman & Nicobar State Cooperative Bank Ltd. offers you Safe Deposit Locker facilities to keep your valuables at a secure place.


  • Available at selected branches (Port Blair, Rangat & Diglipur).
  • An annual rent of Rs. 600 + GST is chargeable
  • Nomination facility is available to the hirer of Safe Deposit Locker.

PFMS is public financial management system for schemes of Govt. of India which can be also used for state schemes. PFMS is a transaction based system to provide real time utilization of funds released from consolidated fund of India. The PFMS full form is Public Financial Management System. It is a portal that provides financial support as a scholarship to students in poverty. The Public Financial Management System program is a government-owned program where financial funds are given to beneficiaries who are eligible. The primary function of PFMS today is to facilitate sound Public Financial Management System for Government of India by establishing an efficient fund flow system as well as a payment cum accounting network.


CKYC refers to Central KYC (Know Your Customer), an initiative of the Government of India. It is a central storehouse of KYC records of customers availing various financial services across institutions, like banks, insurance companies, Non-Banking Finance Companies (NBFCs), etc. The aim of this initiative is to have a structure in place which allows investors to complete their KYC only once before interacting with various entities across the financial sector. It allows investors to carry out their KYC only once. CKYC compliance will allow an investor to transact/deal with all entities governed/regulated by the Government of India/different regulators (RBI, SEBI, IRDA and PFRDA) without the need to complete multiple KYC formalities.


NACH (National Automated Clearing House) is a funds clearing platform set up by NPCI (National Payments Corporation of India) similar to the existing ECS of RBI. NACH System can be used for making bulk transactions towards distribution of subsidies, dividends, interest, salary, pension etc. and also for bulk transactions towards collection of payments pertaining to telephone, electricity, water, loans, investments in mutual funds, insurance premium etc.


E-Mandate is a digital payment service introduced by the RBI and National Payments Corporation of India to streamline the payments process for companies. This process serves as the underlying infrastructure for firms to gather payments without manual intervention. E-mandate is a standing instruction or recurring payment instruction on a debit or credit card given by cardholder on a merchant platform like a website or mobile application for recurring transactions


Direct Benefit Transfer (DBT) is a Government of India Scheme to improve subsidyadministration. The scheme was rolled out in a phased manner starting with 43. Districts w.e.f. 1st January, 2013 for 26 Central Government Schemes of various. Direct Benefit Transfer or DBT has travelled a long path since its early initiation by Government of India on 1 January 2013 to change the mechanism of transferring cash subsidies and benefits.  DBT is evidence-based. It goes beyond mental health illness and improves individuals’ quality of life. It reduces anxiety, depression, trauma, and stress symptoms and decreases suicidal and self-harming thoughts and behaviors. – Increases consumers’ self-worth and self-respect.


A point of sale, or point of purchase, is where you ring up customers. When customers check out online, walk up to your checkout counter, or pick out an item from your stand or booth, they’re at the point of sale. Your point-of-sale system is the hardware and software that enable your business to make those sales. A point of sale (POS) is a place where a customer executes the payment for goods or services and where sales taxes may become payable. A POS transaction may occur in person or online, with receipts generated either in print or electronically. Cloud-based POS systems are becoming increasingly popular among merchants. POS transactions usually occur whenever a buyer pays a certain amount offline or online to purchase goods from a seller. The purpose of POS is to monitor and record all transactions between a buyer and a seller.

Online E Commerce

E-banking (internet banking) is an E-commerce application which allows the customers to perform any of the virtual banking functions, financial functions online, in a protected and secure manner. It involves using the Internet for delivery of banking products and services. E-commerce has enabled app payments and transactions, leading the way for reeducation in physical brick and mortar banks. E-commerce in commercial banks allows interaction with more customers, easier access to information; reduce costs, time and effort, easier market access, increased competitiveness and increased profitability.