West Bengal State Co-operative Bank
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 Negotiated Dealing System

The West Bengal State Cooperative Bank Ltd. now a NDS Member
The first Cooperative bank in eastern India achieved this feat

Online trading through NDS are taking place without any setup at Mumbai
Constituent can open CSGL account with us
Currently a number of DCCBs and UCBs maintained CSGL account with us


We are pleased to inform you that The West Bengal State Cooperative Bank Ltd.(WBSCB) is now Real Time Gross Settlement (RTGS) enabled.

This offer will strengthen relationship between the bank and its customers.


What is Real Time Gross Settlement (RTGS) ?

RTGS is a large value funds transfer system whereby financial intermediaries can settle interbank transfers for their own account as well as for their customers. The system effects final settlement of interbank funds transfers on a continuous, transaction- by-transaction basis throughout the processing day.


In nutshell

It is an inter-bank funds transfer system (settlement)

settling funds on a transaction by transaction basis (gross) i.e   without netting debits against credits

as and when the transactions are triggered (real time)

assuring finality of settlement (irrevocable fund transfer)


In this system, payment instructions between banks are processed and settled individually and continuously throughout the day. This is in contrast to net settlements where payment instructions are processed throughout the day but inter-bank settlement takes place only later typically at the end of the day.

Transactions across RTGS move only where the remitting (sending) bank has liquidity. Thus RTGS is an approach to risk reduction and it aims at reducing inter-bank settlement risk. In the RTGS system, payee banks and their customers receive funds with certainty, or so-called finality, during the day, enabling them to use the funds immediately without exposing themselves to risk.


Salient Features :

Quicker settlement cycles

Assured finality of settlement

Intra Day Credit/Liquidity

Reduced operational risk of fraud and loss of cheques

Secure transactions

Controlled flow of transactions

Wider day time window for collections / payments

Cuts across geographical boundaries

Cuts across Inter Bank and Clearing House settlement issues


Procedure :

For payments through RTGS, the remitter (customer) is required to submit the 'RTGS Funds Transfer Application Form' (authorising West Bengal State Cooperative Bank Ltd. to debit the remitter's account and transfer funds to the beneficiary specified in the application form) at our Kolkata Main Branch

How it benefited other banks

 Any bank which is not eligible for RTGS membership or chooses not to become an RTGS member should make arrangements with our bank to act as their sponsor. WBSCB is ready to settle interbank transactions on behalf of its constituent banks.





West Bengal State Co-operative Bank
Press Release| Tender| Chairman's Desk| Attention Investors| Notice for Expression of Interest(EOI) | Audited Accounts 2014-2015