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Pallavan Grama Bank, a regional rural bank (RRB), serving northern Tamil Nadu, has started Electronic Funds Transfer facility with Indian Bank.
The transfer of funds between Indian Bank and Pallavan Bank branches has become instantaneous. Customers of the 110 branches of Pallavan Bank and all the branches of Indian Bank can transfer funds to individual accounts. The Bank earlier started the facility with other RRBs including Sapthagiri Grameena Bank, Chittoor, Andhra Pradesh, and Puduvai Bharathiyar Grama Bank, Puducherry. Customers of all the three RRBs can transfer funds among any of the branches of these three RRBs.
The Chairman of Pallavan Grama Bank, Mr G. Rangarajan, said the public and the Government Departments may utilise this new facility and by the end of August 2011, the bank plans to launch the NEFT with all other Banks.
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