National Financial Switch
Encyclopedia
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

External links

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