RBI/2005-06/430 Ref. DPSS (CO) No.1897/04.01.02/2005-2006  June 27, 2006 To the Chairmen / Chief Executive Officers of all the Scheduled Commercial Banks including Co-operative Banks Introduction of National Electronic Clearing Service (National ECS) As you are aware, the Electronics Clearing Service (ECS) is operational at 43 centers as of today. While the RBI is providing these services at 15 locations which are both local and centralised, other banks are opera

RBI/2005-06/312 Ref. DPSS (CO) No.1285/04.06.01/2005-2006  March 3, 2006 To the Chairmen/Chief Executive Officers of all Scheduled Commercial Banks Printing of Indian Financial System Code (IFSC) on Cheques As you are aware the Indian Financial System Code (IFSC) is being used as the addressing code in user-to-user message transmission through Structured Financial Messaging System (SFMS). Various other payment system applications like RTGS, NEFT, etc., also use t

RBI / 2004-05 / 396 DPSS (CO) Cir. No.1 / 10.01.01 / 2004-2005 17th March 2005 The Chairman & Managing Directors / CEOs of scheduled commercial banks (excluding RRBs), scheduled primary (urban) co-operative banks and Primary Dealers Dear Sir, Constitution of the Department of Payment and Settlement Systems (DPSS) In the recent period, the Reserve Bank of India has taken a number of steps to strengthen the institutional framework for the payment and settlement syst