This facility renders payments to shareholders/investors for dividend, interest, redemption proceeds, IPO refunds and any other payouts. ICICI Bank is one of the leading players in this business segment, serving many of the elite corporations in India.
You can choose among a wide array of payment modes that include physical as well as electronic modes. The physical modes of payment comprise of warrants and demand drafts, including foreign demand drafts. The electronic modes of payment comprise of Funds transfers to ICICI Bank account holders, Real Time Gross Settlement (RTGS), Electronic Clearing Service (ECS), National Electronic Funds Transfer (NEFT) and Foreign Telegraphic Transfer (FTT).
Some of the features offered by the product are as follows:
- Online Validation
- Extensive network
- MIS and reconciliation
- Systems and checks to detect fraudulent encashment and duplicate payments
- Dedicated customer service desk