SBI Fast Cash Management Product (CMP) Services 2020

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SBI FAST (Funds  Shortest Time) provides corporate customers with cash management services under the SBI FAST brand name. SBI Fast ensures that the collection and payouts are automated and that the cash flows are secure. 

  • SBI FAST ensures timely receipt of funds, fast transfers, reconciliation of account accounts, simple disbursement and managed processes. 
  • SBI FAST reduces traditionally-funded funds transfers inherent delays and increases liquidity to ensure maximum money planning and use. OR SBIFAST provides a complete Host to Host facility (a secure, seamless file tracking facility on our web-based portal).

 

BENEFITS AND FEATURES OF SBI CPM

  •   Centralized Monitoring of Currency. 
  •   Interest Cost savings on borrowing. 
  •   Increased Liquidity. 
  •   Interchange of Data between Treasury and Operational Units. 
  •   Cash forecasting & scheduling. 
  •   Clear monitoring of disbursements. 
  •   Effective Financial Management.

 

SBI FAST CASH MANAGEMENT SERVICES

 

1 local collection

Instrument collection tendered at different CMP storage centers. The credit shall be made available as specified for the client’s account in the pooling center, on the same day the proceeds are cleared, depending on the clearing activities that are predominant at the specific centers (i.e. day-0, day 1 or day.

 

2 outstanding cheque collection

Checks from Outstation can also be deposited in our CMP Cell branches and credit is available from 1 to 7 days from guaranteed credit facilities.· Checks collected from our branches will be charged at a very concessional rate on the same day.

 

3 cash collection

They also have a cash deposit facility on CMP applications at our CMP Cell branches, which makes it easier to pool money automatically with MIS. · Cash recovery from the end of the customer in most of the key centers.

 

4 Balance sweep

Day end balances are moved to the pooling account in various CMP centers across the world.· Consumers can use the local and outstation loan and reimbursement account as well as the residual balance on the principal account at the end of the day.· Swept balances at the start of the next day can be swept back through the respective accounts.

 

5 Debit Transfer

Debit balances are retained at CMP centers which are then transferred to your main account at the end of the day when drawers are allowed up to a pre-fixed daylight limit.· The facility waives the enforcement of the assigned limits and thus increases the customer’s control of debits.

 

6 Electronic collections

 

DIRECT DEBIT

 Payment can be taken from any account of our CBS (12,500) for collecting invoice payment from suppliers, SIP / Premium, etc. • The authorization to be checked by us account holders is sought.

 

NEFT RECEIPTS

The business shall set dealer codes.· The corporate pooling account is credited with the Funds received by RTGS / NEFT modes.· produces MIS, which gives the name, invoice and obtained value of the dealer.

 

PAYMENTS

Real-time gross settlement

  • Material from interbank- RBI settlement. 
  •  Minimum Cost Rs.2.0 lac transaction. 
  •  Day of contract settlement. 
  •  Good Market-related prices 
  • The SBI CMP Portal/Host to Host Connectivity Uploading File facility.
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