नेट बैंकिंग की विस्तृत जानकारी : तात्पर्य, सुविधाएं , लाभ और पंजीकरण

Net Banking Meaning

Net Banking also known as Internet Banking, is a digital method to conduct banking transactions by the means of the internet, it is a time savvy facility offered by all standard banks. Individual can conduct banking activities from home through their smartphones, tablets, laptops and desktops. Net banking is a 24*7 facility which facilitates checking account balance, making fund transfer, managing debit and credit cards, opening fixed deposit and recurring deposit account, paying bills, doing online shopping, ordering chequebooks, buying general insurance, and much more.

What is Net Banking?

Net banking, e-banking, internet banking, mean the same it is one of the modern digital banking method. It is an evolved banking facility and can be called one of the major boons of this century. The banking facility allows customers, who have an account with a bank, the ease of banking without having to visit the branch for majority of services. However, for availing of the internet banking service customers must have an e-mail account and must register to the internet banking service at the time of opening their account or have this facility incorporated into the account later. For accessing this, customers need to enter the registered UserID provided by the bank and create password online using OTP sent on registered email ID and mobile number. This digital banking method can be accessed through electronic systems such as smartphones, laptops, desktops, or tablets. The entire banking activity is performed online and is electronically exchanged without human intervention and therefore the misuse of information is completely ruled out. This facility also offers financial empowerment. Customers can explore various facilities offered by the bank and read them in detail to take advantage of the one that fits them. Net banking offers stepwise information enabling informed decision-making for investments and savings alike.

How to Use Net Banking?

With net banking, you can transfer funds between bank accounts without having to visit the bank. The transaction can be made through the NEFT, RTGS and IMPS facilities between banks. Net banking offers a 'Transfer Funds' option, while doing so you need to choose either of the three options mentioned above.

1. National Electronic Funds Transfer (NEFT)

National Electronic Funds Transfer (NEFT) is a nationwide centralised payment system owned and operated by Reserve Bank of India. Individuals, firms and corporates maintaining accounts with any member bank, participating in the NEFT system, can electronically transfer funds to any individual, firm or corporate having an account with any other bank in the country participating in the NEFT system. The NEFT system is available round the clock throughout the year on all days i.e., 24*7*365 basis. NEFT gives transfer rights to beneficiaries of other banks in India within the country. NEFT charges less for fund transfers than conventional modes like DD/MT. The NEFT facility on Internet Banking is enabled for all account holders with transaction rights.

NEFT is a credit push system i.e., transactions can be originated by the payer/remitter/sender only to pay/ transfer/ remit funds to beneficiary. The beneficiary bank needs to credit the beneficiary account within the same day or next working day a timeline of two hours from the batch settlement can be expected, within which beneficiary account should be credits. The following details are required to initiate a NEFT transaction:

• Beneficiary Name
• Beneficiary Bank Name
• Beneficiary Branch Name
• Beneficiary Account Number
• Beneficiary Account Type
• Beneficiary Branch IFSC

2. Real-Time Gross Settlement (RTGS)

The acronym ‘RTGS’ stands for Real Time Gross Settlement, which can be explained as a transfer mode where money is transferred in real-time. RTGS is a safe and secure system for funds transfer. RTGS transactions do not have any upper amount limit/cap set by RBI. The RTGS is primarily meant for large value transaction. The minimum amount to be remitted through RTGS is Rs 2,00,000/- . The RTGS system is available 24x7x365 basis. The RTGS transaction can be performed by visiting branch or through Internet Banking. RTGS is a credit-push system i.e, transactions can be originated by the payer/remitter/ sender only to pay/ transfer/ remit funds to a beneficiary. The remitting customer needs to provide following information to perform an RTGS transaction:

• Beneficiary Name
• Beneficiary Bank Name
• Beneficiary Branch Name
• Beneficiary Account Number
• Beneficiary Account Type
• Beneficiary Branch IFSC

3. Immediate Mobile Payment Services (IMPS)

Immediate Mobile Payment Services is an instant transfer facility managed by National Payments Corporation of India. IMPS provides robust and real time fund transfer which offers an instant, 24x7, interbank electronic fund transfer service that could be accessed on multiple channels like Mobile, Internet, ATM, SMS.

The IMPS can be performed by using:

• IFSC code and account details: the sender needs to enter the beneficiary details like his name, account number and IFSC code. After adding the beneficiary, the user can perform the transaction.
• MMID (Mobile Money identifier): for making an IMPS transaction using MMID the remitter needs to add beneficiary with following detains Beneficiary name, Beneficiary Nickname, beneficiary’s MMID and his mobile number.

The per transaction limit for IMPS is Rs. 5 Lakhs.

What are the Features of Net Banking?

Net banking offers myriad features for the benefit of customers. Whether you are accessing the banking facilities from the bank website or through the net banking app, you will be able to access many features of net banking seamlessly, some of which include:

• Checking balance and bank statements 
• Funds transfer through IMPS/ NEFT or RTGS
• Easy tax payment
• Paying for utilities
• Paying tuition fees
• Booking rail and air tickets
• Multiple workflows for corporate user accounts
• Bulk payment options
• Opening Fixed and recurring deposits
• Stop Payment of cheques
• IPO Subscription
• Debit Card Management- for Card issuance, set limit, PIN, and block for debit cards
• Quick Fund Transfer
• Registration for Mobile banking
• Sovereign Gold Bond subscription
• Mobile alerts for transaction
• Govt. Business related transactions

Advantages of Internet Banking

It is hard to enumerate the benefits of internet banking as they are so many. Customers can keep tab of their spending and manage their finances much better than they did in the past. From quick decisions on investments to curtailing spending, the customer calls the shots at each stage for greater financial freedom. Let us find out how?

• Accessibility:The advantage of being a 24/7 service offers freedom for customers to perform and make use of any service at any given time. Most services are available round the clock, while those which are not, have alternatives to support that facility. Customer ease is given primary attention.
• Convenience: The simplicity of using the service from anywhere with smartphones, makes this facility irreplaceable. While the option of visiting the branch is always available, customers may require banking services at non-banking hours, which net banking meets. 
• Easy to use: The simple banking app enables banking through a comprehensive interface. Users mostly understand the usage of the applications at a go. 
• Time-Saving: Banking transactions take place in minutes through internet banking. Transferring funds, the most extensively used feature in net banking, happens within seconds.
• Tracker:Each time a customer makes a transaction, it is recorded in the bank's portal. Owing to this, accessibility to the tracker is possible at any time of the day. When transferring funds to someone, you can send a copy of the receipt to the receiver, validating your action.

How to Register for Net Banking?

There are multiple channels through which a user can register himself for bob World Internet

At Branch:

• Through HDCR Menu in Finacle:

• Application Form is available in banks website www.bankofbaroda.in and in internet banking portal www.bobibanking.com
• Customer is required to submit duly filled and signed application form at their base branch. Depending upon the requirement of the customer, they must submit Retail or Corporate form.
• For issuance of bob World Internet E-mail ID and Mobile Number is mandatory.
• For Retail customers, Date of Birth is mandatory.
• Branch is required to verify details mentioned in application form with the details available in system. Any change should be entertained with supporting document.
• Branches are required to process application through HDCR menu in Finacle.
• HDCR Retail requests will be processed at Ebanking end on T basis
• HDCR Corporate requests will be processed at Ebanking end on T+1 basis
• After successful processing of request, an email containing user ID of the customer will be sent automatically on the registered email ID along with steps for setting the bob World Internet passwords.
• The physical application submitted by customer is to be retained at branch.

• Through Tab Banking while opening account

• The request will be submitted through Tab Banking while opening of the account.
• The Retail request submitted through Tab Banking will be processed at Ebanking end on T basis.
• The Corporate request submitted through Tab Banking will be processed at Ebanking end on T+1 basis. After successful processing of request, an email with user ID of the customer will be sent automatically on the registered email ID of the customer along with steps for setting the bob World Internet passwords.

By Customer:

• Through bob World

• Bob world customer can submit their bob World Internet registration request directly through their app.
• The request submitted through bob World will be processed at Ebanking end on T basis.
• After successful processing of request, an email with user ID of the customer will be sent automatically on the registered email ID of the customer along with steps for setting the bob World Internet passwords.

• Using active debit card and PIN

(This is instant process)

• Retail customers having our bank’s active debit card, can register themselves instantly for bob World Internet at their convenience without visiting branch.
• A link “Online Registration using Debit Card” is available on the login page of the bob World Internet.
• After successful validation of the Debit Card customer can instantly create their bob World Internet user ID and password
• Upon successful creation of User ID and password customer can instantly start using bob World Internet.

Note: Corporate customers are required to visit base branch for bob World Internet Registration.

Only corporate accounts with proprietorship mode of operation can be registered for bob World Internet through Tab Banking and bob World (Mobile App).

Internet Banking Facility of Bank of Baroda

Internet banking at BoB offers all banking facilities for users to be accessed from anywhere. Users can easily register to the net banking facility in a few easy steps to operate their bank account. From basic banking activities like checking balances to online fund transfers, users once logged into their accounts will be able to liquidate FDs created online along with easy bill payments. Banking activities are hassle-free.

Users can download the net banking form from the Home Page Bank of Baroda website or get one from the branch, or Retail users can register themselves using multiple options.

• The corporate form is for companies, partnership firms, HUFs, sole proprietors etc. 
• Fill out the form and sign. If the account is a joint account, all account holders must put their signatures on the form. 
• The form needs to be submitted in person at the branch where the individual holds an account. 
• The user ID will be sent to the registered Email ID and mobile number provided by the user to the bank. 
• The user sets a password upon receiving the ID
• Retail customers with the bank's debit card can register for bob World Internet banking facility through the bob world internet application. Click on the link, available on the login page for online registration using a debit card. 
• bob World Internet benefits are packed with user comfort in mind 
• Quick Fund transfer by IMPS/NEFT or RTGS
• Pay your IT returns easily
• Pay for utilities
• Tuition fees payment
• Book train and air tickets online
• Multiple workflows for a corporate user account with a bulk payment facility
• Open FDs and RDs online and hassle-free
• Manage debit card
• Make Quick fund transfer without adding beneficiary

With Limits:

Transaction limit for retail customers Rs 25000 per day, maximum 2 number of transactions per day.

Transaction limit for corporate customers Rs 50000 per day maximum 2 number of transactions per day.

If you are looking for secure, user-friendly and highly dependable banking facilities, reach out to bob World Internet. Supporting users both online and offline, customers will be rewarded with unmatched personal and corporate banking experiences. For more information visit us online at bob World Internet Banking.