National Financial Switch

Any bank can now join National Financial Switch:-Press release July 26,2011

Any bank with Core Banking Solution with 24 X 7 transaction banking capabilities with ATM or no ATM can now join the National Financial Switch (NFS) through a sponsor bank. This would facilitate even the non- scheduled Urban Co-op Banks and Regional Rural Banks to have access to the National Network of 78,000 + ATMs in the country. So far, access was limited to only scheduled banks with RTGS membership. Two Sub-members, The Pandharpur Urban Co. Op. Bank Ltd.(PUC) with their three ATMs in Pandharpur, Maharashtra (through their Sponsor ICICI Bank Ltd) and Dr. Annasaheb Chowgule Bank (DAC) with their Four ATMs in Solapur, Maharashtra (through their Sponsor HDFC Bank Ltd) have gone live on NFS Network. This is a step forward to inclusive growth of financial services in the Country and serving to the Customers of the smaller Banks, UCBs and RRBs. By this Sponsor Bank Scheme on NFS, connectivity of ATMs across the Country would be increased and Customers would be able to access the ATMs in the remotest areas of the Country.

Background

The Institute of Development and Research in Banking Technology (IDRBT), Hyderabad had been providing ATM switching service to banks in India through National Financial Switch . IDRBT decided to hive off its operational role on ATM switching to have focus on research and development and was looking for a suitable arrangement for shifting this business to some national level payment system organization. National Payments Corporation of India (NPCI) considered this as an opportunity and started discussions with IDRBT on the feasibility of taking over.

The Board for Regulation and Supervision of Payment and Settlement systems (BPSS) at its meeting held on September 24, 2009 has approved in-principle to issue authorisation to NPCI for operating various retail payment systems in the country. Reserve Bank of India has granted authorisation to NPCI to take over the operations of National Financial Switch (NFS) from the Institute of Development and Research in Banking Technology (IDRBT) on a ‘as is where is basis’ on October 15, 2009.NPCI has deputed its officials to IDRBT Hyderabad and NPCI has taken over NFS operations from December 14, 2009.

While the primary site is located in the IDRBT Campus at Hyderabad, the back up site is being developed at Mumbai.

Member banks

The NFS Network connects 83,648 ATMs of 59 member banks and 2 sub-member banks, which is the largest number of ATMs under a single network in India.

NFS Member Banks ATMs

Sr No	Bank Name	No of ATMs
1	Abhyudaya Cooperative Bank	96
2	Allahabad Bank	316
3	Andhra Bank	1025
4	Axis Bank	7591
5	Bank of Bahrain and Kuwait	2
6	Bank of Baroda	1800
7	Bank of India	1602
8	Bank of Maharashtra	500
9	Barclays Bank	39
10	Bassein catholic Co-op Bank	23
11	Canara Bank	2623
12	Catholic Syrian Bank	164
13	Central Bank of India	1217
14	Citi Bank N.A.	701
15	City Union Bank	315
16	Corporation Bank	1256
17	Cosmos Cooperative Bank	116
18	Dena Bank	520
19	Development Credit Bank	140
20	Dhanalakshmi Bank	425
21	Dombivli Nagari Sahakari Bank	22
22	Deutsche Bank	63
23	Federal Bank	832
24	Gopinath Patil Parsik Janata Sahakari Bank	18
25	HDFC Bank	6522
26	ICICI Bank	6913
27	IDBI Bank	1496
28	Indian Bank	1209
29	Indian Overseas Bank	1245
30	IndusInd Bank	665
31	ING Vysya Bank	422
32	Jammu and Kashmir Bank	436
33	Janakalyan Sahakari Bank Ltd	13
34	Janata Sahakari Bank	20
35	Kalyan Janata Sahakari Bank	19
36	Karnataka Bank	295
37	Karur Vysya Bank	605
38	Kotak Mahindra Bank	755
39	Lakshmi Vilas Bank	327
40	Mahanagar Cooperative Bank Ltd	8
41	NKGSB Co-operative Bank	41
42	Oriental Bank of Commerce	1242
43	Punjab and Maharashtra Cooperative Bank	42
44	Punjab and Sind Bank	109
45	Punjab National Bank	5619
46	Ratnakar Bank	42
47	Saraswat Cooperative Bank Ltd	135
48	Shamrao Vithal Cooperative Bank	103
49	South Indian Bank	568
50	Standard Chartered Bank	315
51	State Bank of India	(*) 26644
52	Syndicate Bank	1235
53	Tamilnad Mercantile Bank	223
54	Thane Janata Sahakari Bank Ltd.	60
55	UCO Bank	721
56	Union Bank of India	2759
57	United Bank of India	584
58	Vijaya Bank	562
59	Yes Bank Limited	280
Total		83640

Sr No	Sub-member Bank name	No of ATMs
1	Pandharpur Urban Co-op Bank	4
2	Dr Annasaheb Chougule Urban Co-op Bank	4
Total		8

	No of Banks	No of ATMs
Member Bank	59	83640
Sub-member Bank Name	2	8
Total	61	83648

See also

• CashTree
• MITR ATM Sharing Network

References

External links

• IDRBT NFS
• Reserve Bank of india