- As soon as your FedNet application is processed, a PIN Mailer will be couriered to you and your account will be enabled for VIEWING facility.
- However to have your account enabled for Transaction facility, it has to be activated either by acknowledging the PIN Mailer or by soft activation
Two Factor Authentication
In order to perform transactions, you are also required to activate Two Factor Authentication (2FA), in addition to above step.
Two factor authentication can be done in any of the three modes given below:
1. Using Hard token device
2. Using Mobile based OTP
3. Using SMS OTP
To know more about Two factor authentication, please get in touch with our contact centre.
As per RBI guidelines, Two Factor Authentication (2FA) is mandatory from October 1, 2013. As such Bank has to set the transaction limit to Zero from 01.10.2013 , if 2FA is not registered. Considering representations from our esteemed customers, and to reduce the inconvenience in executing small value transactions, Bank has decided to reduce the daily limit to Rs.10000.00 and to fix an aggregate maximum limit of Rs. 50000.00 per month, for customers who have not opted for 2FA. This arrangement will continue till 31.10.2013 only and no further extension will be granted as the full compliance of the regulatory guideline is to be submitted to RBI in November 2013.
Soft activation of Transaction facility was introduced as a convenience to our customers, for getting their FedNet facility activated faster. Soft activation can be resorted to, if our system has registered some mandatory personal details in our database. The steps involved are as follows.