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Centralised Funds Management System CFMS DETAILED EXPLANATION

What is the Centralised Funds Management System(CFMS) ?
      The Reserve Bank has also introduced the Centralised Funds Management System (CFMS) to facilitate centralised funds enquiry and transfer of funds across DADs(Deposit Accounts Department). This helps banks in their fund management as they can access information on their balances maintained across different DADs from a single location. Current ly, 75 banks are using the system and all DADs(Deposit Accounts Department) are connected to the system.The centralised funds management system (CFMS) provides for a centralised viewing of balance positions of the account holders across different accounts maintained at various locations of RBI.
       CFMS Stands for Centralised Funds Management System. It is a sort of Electronic fund transfer system. It is a system set up, operated and maintained by Banks to enable operations on accounts maintained at various offices of the Bank, through standard message formats in a secure manner. The Bank has a Central System which interacts with the subsystems in its various branches to perform operations on the accounts maintained by the Bank. To transfer funds from one branch to another, a request message is sent from the source branch to the Central system of the Bank. The Central System processes the message and debits the account accordingly.
What is the e-Kuber ?
The Reserve Bank fac ilitates remittance of funds from a bank's surplus account at one location to its deficit account at another. Such transfers are electronically routed through a computerised system called e-Kuber. The computerisation of accounts at the Reserve Bank has greatly facilitated banks' monitoring of their funds position in various accounts across different locations on a real-time basis.

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