RUPEETIMES.COM
An Insight into Personal Finance in India
Having a keen interest in Indian personal finance topics especially credit cards, education loans and having a special interest in promoting financial awareness among the people, Ankit Sharma blogs regularly at Rupeetimes.com. A graduate from Mumbai University, Ankit brings the never-say-die, Mumbaikar attitude to his work.
By Ankit Sharma

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Friday, July 25
New Mobility program of ING vysya Bank

To make banking more convenient and comprehensive for the customers the ING vysya bank is coming with a new mobility program. The Bank has decided to work with Mindtree that will be assisting the bank in their next generation mobility program.

The bank will offering more efficient and conceptualize ways of banking to the customers through this program. As a part of the deal the Mindstree will be assisting the bank in providing multi-platform...

Posted 11:41:42 AM Complete Story | Post Comment | Read Comments(0)

Thursday, July 24
New credit cum debit card unveiled by HPSCB bank

Last day Himachal Pradesh state cooperative bank launched a new Rupay card for the farming community. It has been reported this is the first cooperative bank in the country which is working for the farmers on the larger scale.

The bank has introduced this card to facilitate the farmers with ease of credit and debit facilities. This is a credit cum debit card. This measure of the bank will provide the farmers with an efficient...

Posted 11:42:32 AM Complete Story | Post Comment | Read Comments(0)

Wednesday, July 23
Aadhar will soon be a universal document for opening bank account

On 17th July,2014 the Reserve Bank issued a notification stating the officially valid documents for opening bank account. RBI has revised the Know your customer guidelines with the government's prevention of money laundering norms.

The list of valid documents includes Aadhar Card, PAN card, voter ID card, driving licence, passport, or the NREGA card. This list is similar to the previous only the change is any other document as may be required by the banking...

Posted 11:29:07 AM Complete Story | Post Comment | Read Comments(0)

Wednesday, July 16
Banks heedless in sharing information with the customers

The Banking codes and services reported that the bank not sharing the information with the customers is a major drawback. This is a serious cause that reduces the efficiency of customer services. The banks are supposed to share the terms and conditions of products rate of interest and disclosures with the customers, but the banks do not pay much attention towards this.

It was found that the customers are very bad at the knowledge about...

Posted 11:11:20 AM Complete Story | Post Comment | Read Comments(0)

Tuesday, July 15
ICICI acquired second position as credit card issuer in India

It has been reported that the country’s second largest leading bank – ICICI bank has added 0.3 million credit card customer in the FY14. The bank has surpassed its rival banks in growing credit card base. The ICICI bank has added millions of the user more than the other financial institution.

A sharp fall of 1.39 million users is seen in the HDFC bank’s users- the leading bank in the list of Credit card...

Posted 11:13:41 AM Complete Story | Post Comment | Read Comments(0)

Monday, July 14
Enormous number of complaints against the bank in 1 year

It has been reported that complaints against the banks are on peak. According to a RTI query, the Apex bank has received enormous number of complaints against the banks. The data showed that by the end of March 2014, there were 76,061 complaints against the banks.

Within a period of 1 yr the RBI has received a huge number of complaints. Chief information officer of the RBI stated that there is a big list of...

Posted 11:31:05 AM Complete Story | Post Comment | Read Comments(0)

Friday, July 11
New notes to be introduced with Braille signs

India is having approximately 20 million of visually challenges people. In order to support these blind people, Govt. has decided to introduce new notes that will have Braille signs on them. With the current currency the blind people face much difficulties, they need others helps in order to identify the denominations of the notes. The Braille markings on the notes will be very useful for them. The proposal to put the Braille marking on...

Posted 11:27:21 AM Complete Story | Post Comment | Read Comments(0)

Wednesday, July 9
PSU banks to focus on Rural and unbanked areas : RBI

According to reports the PSU banks are steadily increasing their presence in the rural areas. Following the guidelines of the apex bank to establish more number of branches in rural and unbanked areas, more than half of the new branches established by the banks are in rural and devoid areas.

About 50-60 of the new branches established by the top leading banks - ICICI bank, Axis Bank, HDFC Bank, YES bank are in the...

Posted 11:14:23 AM Complete Story | Post Comment | Read Comments(0)

Tuesday, July 8
ATM skimming on surge

All the customers need to be alert and be more cautious while making the transactions through ATM. It has been reported that the hi tech Skimmers were being inserted in the protruding socket of ATM machines meant for cards. A small camera is fitted above the key-pad on which ATM PIN is punched. With the help of this fraudsters, obtain the data, they print it on duplicate cards and then use them to draw money...

Posted 11:26:45 AM Complete Story | Post Comment | Read Comments(0)

Monday, July 7
SBT contractor Plus new scheme by SBT bank

Good news lined up for the contractors, State bank of Travancore has launched a new scheme for the contractors. To provide the easy loan facilities to the contractors SBT has launched the scheme SBT contractor plus, that will assist contractors in getting loan to easily for various purposes.

All the contractors and sub contractors undertaking works on behalf of Central and State departments and multinational organisations are eligible. Under this plan the bank will...

Posted 11:29:52 AM Complete Story | Post Comment | Read Comments(0)

Friday, July 4
Indian Post setting ATMs in Thiruvananthapuram

Indian Postal Department has decided select group of places in the country to set up ATMs of the department over there. Initially the Indian Post is planning to set up the ATMs at the GPO in the city and sub post offices at Poojappura, Neyyattinkara, and Attingal. The facility will be provided in some other post offices in the city and also at Kottarakara, Alappuzha, Kottayam, Ernakulam, Thrissur, Palakkad, Kozhikode and Kannur later.

This will...

Posted 11:29:58 AM Complete Story | Post Comment | Read Comments(0)

Thursday, July 3
Standard Chartered Bank working in partnership with ICICI prudential

Standard Chartered bank has decided to work with a leading Insurance company ICICI Prudential Life Insurance Company Ltd. The bank will be entering in to a strategic bancassurance partnership with the company.

Through this partnership they will be expanding the term and geographic scope of their pan-Asian bancassurance partnership. In the agreement it has been decided that bank will be selling life insurance products of ICICI prudential through its branches spread across the 42...

Posted 11:18:55 AM Complete Story | Post Comment | Read Comments(0)

Wednesday, July 2
Now ATMs receipts in Hindi also

It has been reported that home ministry has asked the apex bank to instruct the bank to acquire the ATMs that will generate the ATMs in Hindi as well. All the ATMs should now have the facility to print the receipt in English and Hindi both.

Few months ago home ministry has wrote a letter to governor of RBI asking them to direct the banks to procure only those ATMs in future which can generate...

Posted 11:17:46 AM Complete Story | Post Comment | Read Comments(0)

Tuesday, July 1
Digital Branches - INTOUCH launches by SBI

It has been reported that the largest lending institution of the country State bank Of India has launched 6 new digital branches across the country. In order to serve the tech- savvy customers the bank has introduced these branches.

One such branch is established in Delhi, today morning. These branches will be completely digitized. The branches are named as INTOUCH offering the customers with the digital banking facilities. These branches will provide instant...

Posted 11:11:57 AM Complete Story | Post Comment | Read Comments(0)

Monday, June 30
Rise in credit card spending

According to the reports the growth in the credit card spending is increasing unexpectedly. Banks have reported that the loans for the banking sector are increasing at a slower rate than expected where as the credit card spending seems peculiar this time.

Experts of the bank, stated that the credit card spending is increasing by the 30% annually. At Axis Bank, the credit card spends have been growing at 80 per cent on...

Posted 11:13:13 AM Complete Story | Post Comment | Read Comments(0)

Friday, June 27
Some relief for credit card customers

The apex bank of the country- RBI has issued a new directive under which in case any credit card fraud occurs, banks have to prove that the consumer has acted fraudulently. Now the customers no longer need to spend long hours and convince the bankers that their cards have been misused. Earlier the responsibility of proving themselves innocent was on the customers. Many a times disputed transactions shown on their credit card bills and...

Posted 11:16:32 AM Complete Story | Post Comment | Read Comments(0)

Thursday, June 26
Customers loosing confidence in banks due to increasing card frauds

According to the records of Global fraud study it has been noticed that the Credit card frauds are on peak in India. India ranks second in terms of card fraud. Card fraud is comprised of unauthorized activity on three types of payment cards-debit, credit and prepaid.

In 2012 the card fraud was 21% which has now increased to 37% this year. User need to be careful and use their cards very cautiously. It has...

Posted 11:24:52 AM Complete Story | Post Comment | Read Comments(0)

Wednesday, June 25
Reliance life Insurance launched a new plan- Claim guarantee

Yesterday Private Insurance Company – reliance Life insurance unveiled a new plan ‘claim guarantee’. In order to settle the payment of death claim in the shortest time period company came up this initiative.

It has been reported that in this plan company will be providing the death claim within a time period of 12 days, of receipt of all required death claim documents from the nominee or claimant, provided full premium is paid by the...

Posted 11:41:04 AM Complete Story | Post Comment | Read Comments(0)

Tuesday, June 24
Andhra Bank to employ undergraduates for the ATM security

In order to get the cheap and best management of the ATMs, Andhra bank has decided to employ individuals and business persons to keep a watch at the ATMs. It has been reported that Bank is planning to keep the undergraduates and other willing individuals as the security personnel at the ATM.

After the increase of attacks and mishappenings at the ATMs, the banks were asked to increase the security and provide 24X7...

Posted 11:46:49 AM Complete Story | Post Comment | Read Comments(0)

Monday, June 23
SBI to introduce contactless payment cards in Association with Chennai Metro

Largest leading bank of the country State Bank of India has decided to come up with the contactless payment cards in combination with debit or credit cards in association with Chennai metro. Bank has asked Chennai metro to introduce this new payment, this help the travelers and the bank as well. Bank will get new customers through this.

This will be dual card which will work as a credit or debit card and it...

Posted 11:28:43 AM Complete Story | Post Comment | Read Comments(0)

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