National Financial Switch

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Operating area Republic of India

70 members

46 sub-members
ATMs 1,09,664
Founded 1977

National Financial Switch (NFS) was conceptualised, developed and implemented by Institute of Development and Research in Banking Technology (IDRBT), Hyderabad with a view to inter-connect the ATMs in the country and facilitate convenience banking for the common man.

The Institute started off the switch by connecting the ATMs of three banks. Thereafter, the Institute continuously worked towards bringing all banks on board and by December 2009, the network had grown to connect 49,880 ATMs of 37 banks, thereby emerging as the largest Network of shared ATMs in the country.

The Institute handed over the National Financial Switch to National Payments Corporation of India (NPCI ) in 14 December 2009.

'Any bank can now join ATM network through National Financial Switch'

Any bank with Core Banking Solution with 24 X 7 transaction banking capabilities with ATM or no ATM can now join the National Financial Switch (NFS) through a sponsor bank. This would facilitate even the non- scheduled Urban Co-op Banks and Regional Rural Banks to have access to the National Network of 1,03,000 + ATMs in the country. So far, access was limited to only scheduled banks with RTGS membership. Two Sub-members, The Pandharpur Urban Co. Op. Bank Ltd.(PUC) with their three ATMs in Pandharpur, Maharashtra (through their Sponsor ICICI Bank Ltd) and Dr. Annasaheb Chowgule Bank (DAC) with their Four ATMs in Solapur, Maharashtra (through their Sponsor HDFC Bank Ltd) have gone live on NFS Network. Saraswat Bank, a leading Urban Co-operative Bank, also has sponsored, The Chembur Nagrik Sahakari Bank (CNSB) with their two ATMs in Mumbai and The Shamrao Vithal Co-op. Bank Ltd has also sponsored Dharmavir Sambhaji Urban Co-op Bank Ltd, Pune and Ahmed Nagar Shahar Sahkari Bank Maryadit, Ahmednagar. This is a step forward to inclusive growth of financial services in the Country and serving to the Customers of the smaller Banks, UCBs and RRBs. By this Sponsor Bank Scheme on NFS, connectivity of ATMs across the Country would be increased and Customers would be able to access the ATMs in the remotest areas of the Country.


The Institute of Development and Research in Banking Technology (IDRBT), Hyderabad had been providing ATM switching service to banks in India through National Financial Switch . IDRBT decided to hive off its operational role on ATM switching to have focus on research and development and was looking for a suitable arrangement for shifting this business to some national level payment system organization. National Payments Corporation of India (NPCI) considered this as an opportunity and started discussions with IDRBT on the feasibility of taking over.

The Board for Regulation and Supervision of Payment and Settlement systems (BPSS) at its meeting held on September 24, 2009 has approved in-principle to issue authorisation to NPCI for operating various retail payment systems in the country. Reserve Bank of India has granted authorisation to NPCI to take over the operations of National Financial Switch (NFS) from the Institute of Development and Research in Banking Technology (IDRBT) on a ‘as is where is basis’ on October 15, 2009.NPCI has deputed its officials to IDRBT Hyderabad and NPCI has taken over NFS operations from December 14, 2009.

While the primary site is located in the IDRBT Campus at Hyderabad, the back up site is being developed at Mumbai.

Member banks[edit]

As of September 2013, the NFS Network connects 1,33,180 ATMs of 74 member banks, 99 sub-member banks, 42 RRB member banks and 1 whitelabel ATM provider [1] which is the largest number of ATMs under a single network in India.

NFS Member Banks ATMs

Sr No Bank Name No of ATMs
1 Abhyudaya Co-operative Bank 102
2 Allahabad Bank 728
3 Andhra bank 1,362
4 APNA Sahakari Bank ltd 42
5 Axis Bank 12,346
6 Bank of Bahrain and Kuwait 3
7 Bank of Baroda 4,101
8 Bank Of India 2,905
9 Bank of Maharashtra 900
10 Bassein Catholic Co-operative Bank Ltd 29
11 Canara Bank 6,334
12 Catholic Syrian Bank 214
13 Central Bank of India 3,133
14 Citibank 625
15 City Union Bank 855
16 Corporation Bank 1,833
17 Cosmos Bank 134
18 Dena Bank 770
19 Deutsche Bank 53
20 Development Bank of Singapore 35
21 Development Credit Bank 251
22 Dhanalakshmi Bank 398
23 Dombivli Nagarik Sahakari Bank 26
24 Federal Bank 1,270
25 First Rand Bank Ltd 7
26 Gopinath Patil Parsik Janata Sahakari Bank Ltd 32
27 HDFC Bank 11,177
28 HSBC Bank 144
29 ICICI Bank 11,098
30 IDBI Bank 1,930
31 Indian Bank 1,607
32 Indian Overseas Bank 2,149
33 Indusind Bank 1,025
34 ING Vysya Bank 618
35 Jammu and Kashmir Bank 726
36 JanaKalyan Sahakari Bank 16
37 Janata Sahakari Bank 33
38 Kallappanna Awade Ichalkaranji Janata Sahkari Bank 24
39 Kalyan Janata Sahakari Bank 30
40 Karnataka Bank 568
41 Karur Vysya Bank 1,468
42 Kotak Mahindra Bank 1,004
43 Lakshmi Vilas Bank 688
44 Mahanagar Co-operative Bank 35
45 Mehsana Urban Co-operative Bank 13
46 NKGSB Co-operative Bank 76
47 Nutan Nagarik Sahakari Bank 2
48 Oriental Bank of Commerce 1,697
49 Punjab and Maharashtra Co-operative Bank 92
50 Punjab and Sind Bank 388
51 Punjab National Bank 6,577
52 Saraswat Co-operative Bank 183
53 Shamrao Vithal Bank 147
54 Standard Chartered Bank 279
55 State Bank of India 38,779
56 Syndicate Bank 1,363
57 Tamilnaad Mercantile Bank 542
58 Thane Janata Sahakari Bank 92
59 The A.P. Mahesh Co-operative Urban Bank Ltd 4
60 The Bharat Co-operative Bank ltd. 49
61 The Greater Bombay Co-operative Bank 21
62 The Kalupur Commercial Co-Op Bank Ltd 36
63 The Karad Urban Co-operative Bank ltd 21
64 The Municipal Co-operative Bank Ltd 4
65 The Ratnakar Bank Ltd 243
66 The South Indian Bank 878
67 The Surat People’s Co-operative Bank Ltd 15
68 The West Bengal State Co-operative Bank Ltd 5
69 UCO Bank 1,768
70 Union Bank Of India 5,337
71 United Bank of India 1,086
72 Vijaya Bank 1,001
73 Woori Bank 1
74 Yes Bank Ltd 1,122
Total 132,320

NFS Total ATM Coverage

No of Banks No of ATMs
Member Banks 74 132,320
Sub-member Banks 99 485
RRB member Banks 42 79
Whitelabel ATM Providers 1 296
Total 216 133,180


External links[edit]