Centralised Funds Management System (CFMS) | | GovernmentAdda
Home / Banking Awareness / Centralised Funds Management System (CFMS)

Centralised Funds Management System (CFMS)

IB Security Assistant Free Mock Test Attempt Now For Free
IB Security Assistant Complete Free Study Material PDF Free Download Now
SSC CGL,CPO,GD 2018 Study Material & Book Free PDF Free Download Now
IBPS Clerk 2018 Study Material & Book Free PDF Free Download Now

 

Print Friendly, PDF & Email

The Centralised Funds Management System (CFMS), is a system set up, operated and maintained by the Reserve Bank of India to enable operations on current accounts maintained at various offices of the Bank, through standard message formats in a secure manner.

The CFMS comprises two components –

♦ Centralised Funds Enquiry System (CFES) and

♦Centralised Funds Transfer System (CFTS).

These have been made available through the following sub-systems :

♦ the Apex Level Server (ALS) – ALS is the software component which resides in the mainframe computer systems currently housed in at Mumbai

♦  the Local Funds Management System (LFMS)- LFMS is the software component which would be functioning from the server systems at the Regional Offices of the Bank where the Deposit Accounts Department (DAD) is existent. 

♦  the Bank Level Funds Management System (BLFMS)-  BLFMS is the software component provided by the Bank to the members of the CFMS and would be used by the Treasury Department / Central Accounts Department

♦ the Local Banks Funds Management System (LBFMS) –BFMS is the software component which would be given by the Bank to the CFMS members for accessing the facilities at each local DAD.

Eligibility Criteria

Each entity, which maintains a current account with the Bank and is a member of INFINET, will be eligible for membership to the CFMS.

Admission to the CFMS may be granted, suspended or revoked by the Bank at its sole discretion. All applications for the CFMS membership shall be addressed to the Regional Director, Reserve Bank of India, Deposit Accounts Department, where the Current Account of the Institution is maintained with. The respective DAD shall duly process the application and grant access subject to:

a. Declaration on site readiness by an officer not below the rank of a General Manager
b. Certificate of INFINET Membership
c. Maintains a current account with DAD

Transaction Types

The following types of facilities shall be available through CFMS:

a) Enquiries relating to the operation of its current account/s maintained with any of the DADs
b) Funds Transfers between accounts of the same account holder at different DADs.

CFMS Operation Sessions

The CFMS will normally be operational on all days on which at least two Deposit Accounts Departments of Reserve Bank of India are working.

The Bank may, at its discretion, change the operating calendar. Any changes to the operating calendar or any declaration of unscheduled holidays will be communicated by the RBI to the members by means of a broadcast message or otherwise.

The Bank, may at is discretion, and in the interest of the system as well as its members, effect changes in the hours of operation of the CFMS for a particular period which may be for a part of a day or be across days or for any period as may be decided by the Bank. Such changes will be notified by the Bank to the members through a broadcast message or otherwise.

GovernmentAdda Recommends

OnlineTyari Mock Tests

IBPS Clerk Complete Mock Test Package Attempt Now For Free
SSC CGL Complete Mock Test Package Attempt Now For Free
SSC CPO Complete Mock Test Package Attempt Now For Free
RRB ALP CBT 2 Complete Mock Test Package Attempt Now For Free

 

 

 Download English Power Book (2000+ Pages)  Free Download Now
Download Quant Power Bank (1000+ Pages)  Free Download Now
Reasoning & GI Booster -Power Bank Book (1200+ Pages)  Free Download Now

 

About Burning Desire

Check Also

Banking Awareness Quiz

IB Security Assistant Free Mock Test Attempt Now For Free IB Security Assistant Complete Free …

error: