Funding of Deposits
Funding of deposits involves depositing funds into deposit account to increase the balance and to potentially earn interest on the deposited amount over time.
-
Fund the term deposit manually by providing the deposit amount
Block or Unblock Funds
Banks can block funds on a deposits account, in full or partially, for a specific or indefinite period of time.
-
Creates a funds reservation with details such as account number, block or reserve amount, period of hold transaction, reason for holding. Funds reservations are created to block or reserve funds which restricts any debit movements affecting the account balance below the blocked amount for the specified period on an account.
-
Update funds reservation with details such as account number, block or reserve amount, period of hold transaction, reason for holding. Funds reservations are created to block or reserve funds which restricts any debit movements affecting the account balance below the blocked amount for the specified period on an account.
Reverse Fund Blocking
DELETECancels the funds reservation of an account. Funds reservations are created to block or reserve funds which restricts any debit movements affecting the account balance below the blocked amount for the specified period on an account. On removal of the funds reservations, the blocked or reserved amount is now available for usage.
-
Retrieves the reserved funds details such as reason, amount and period of reservation of the account
Partial Withdrawal
Partial withdrawal refers to withdrawing a portion of the funds deposited in the account before the maturity date, while leaving the remaining balance intact. This may involve change in interest earned and can also be subject to penalties or fees.
-
Withdraw from the deposit account
Issuance
Given below are the service operations for Issuance.
-
Initiation of the export documentary collection by the collecting bank
-
Lodgment of the Import documentary collection by the collecting bank
Maintenance
Given below are the service operations for Maintenance.
-
Updates the amendments to the outward collection for the specified letter of credit/customer reference number
-
Updates the amendments to the inward collection for the specified letter of credit/customer reference number
-
Amendments to outward collection contracts are implemented by revising the contract with updated values
Enquiries
Given below are the service operations for Enquiries.
-
Retrieves the outstanding details of outward collections
Fetch Drawing
GETRetrieve the details of specific drawing that is created against a letter of credit