The Hindu Business Line : ABN Amro, ING Vysya to deploy LogicaCMG tool

IN anticipation of the rollout of the Reserve Bank of India's real time gross settlement programme, ABN Amro and ING Vysya have signed up with IT services provider LogicaCMG for the deployment of the latter's RTGS solution. LogicaCMG made this announcement to the media here on Monday.

The RTGS readiness solution comprises the Quaestor Liquidity Manager and the Quaestor Payments Hub. The QLM module addresses the management of intra-day liquidity of RTGS settlement account providing automated processes that implement business rules to control payment submission liquidity usage and availability.

According to Mr Louwke van der Steen, Managing Director (India & SAARC), LogicaCMG, around 104 banks would deploy the mechanism to pursue the RBI's RTGS compliance. The RBI has allotted 205 licences to banks to deploy the system, Mr Steen said. IndusInd Bank is in discussions with LogicaCMG and is in advanced stage of acquiring the RTGS Readiness Solutions.

The software company's solutions would provide banks with the support specifically required by the RTGS system. It provides a flexible solution for the effective management of intra-day liquidity and creates a distributed payments entry and tracking solution, enabling banks to make optimal use of the RTGS system.

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