NSB receives Real Time Gross Settlement status on its 50th anniversary

The largest savings specialist bank of Sri Lanka, the National Savings Bank (NSB) has received the Real Time Gross Settlement status from the Central Bank (CB) at a time where the bank is commemorating its 50^th anniversary this year, the NSB announced

This special facility enables the bank to perform transfer of large sums of money on transaction-by-transaction basis, with secure and real time.

The RTGS facility enables NSB customers and its internal operations to transfer funds seamlessly and with the security and the supervision of CB, a NSB media release revealed. 

By using the RTGS system, customers can transfer any amount of funds to any other bank with the RTGS facility which means there’s no cap to money transfers.

It can be used 24 x 7 x 365 days, people can enjoy the benefit of RTGS facility at their convenience with the NSB internet banking facility or using the NSB Pay app, where fund transfers can be initiated without visiting a bank branch. All the transactions are backed by the law means there’s a legal support for each transaction take place, it added. 

Also, this is the first time a specialized bank is given the RTGS membership.

With the introduction of RTGS, the inter-bank and fund transfer methods have shifted to another level. Especially when it comes to investing in treasury bills and securities the RTGS provides a very practical solution and it also enhances the quality of the customer service.

With the implementation of the bank’s Core Banking System and Treasury Management System the bank will be able to reap the full benefit of the RTGS membership.

The official event to mark the occasion was held at NSB head office on 1^st February 2022 under the patronage of Governor of the CB. Ajith Nivard Cabral accompanied by Chairperson of NSB Ms. Keasila Jayawardena, Board of Directors and the top management of the Bank.