Federal Bank gains on introducing real time fund transfer facility

The Federal Bank Ltd. | Bank - Private | BFSI | BSE: 500469 | NSE: FEDERALBNK

21 Mar 2012 Evaluate

Federal Bank is currently trading at Rs. 428.00, up by 3.65 points or 0.86% from its previous closing of Rs. 424.35 on the BSE.

The scrip opened at Rs. 426.00 and has touched a high and low of Rs. 428.00 and Rs. 421.55 respectively. So far 2400 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 480.00 on 14-Feb-2012 and a 52 week low of Rs. 322.10 on 28-Dec-2011.

Last one week high and low of the scrip stood at Rs. 434.85 and Rs. 414.25 respectively. The current market cap of the company is Rs. 7238.73 crore.

The Institutions holding in the company stood at 61.36% while Non-Institutions held 36.39%.

Federal Bank, the Kerala-based private sector lender is extending Interbank Mobile Payment Service (IMPS) to its Internet banking customers from March 20, 2012 by launching real time fund transfer facility. The bank is going to offer this real time funds transfer facility in association with National Payment Corporation of India.

Currently, banks much of the inter-bank funds transfer transactions are through NEFT (National Electronic Funds Transfer) mechanism, under which the transactions are processed and settled in batches from 9 a.m. to 7 p.m. and, hence, are not on real-time basis. As per the new scheme customers will be able to transfer funds instantaneously through Internet banking from bank account to any another bank account which comes under IMPS framework without IFSC code and account number.

Recently, bank has inaugurated its 856th branch at Kothuval Street in Chalai. The branch was formally inaugurated by A P Majeed Khan, Chairman, Noorul Islam Education Trust and Chancellor, Noorul Islam University, while on-site ATM counter was inaugurated by Vinson M Paul, additional director-general of police, Kerala. The bank is also introducing the bulk note acceptor facility for the first time at Chalai Branch.

Federal Bank Share Price

292.55 -0.55 (-0.19%)

07-May-2026 11:55 View Price Chart

Peers

Company Name	CMP
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Indusind Bank	941.10
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