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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Thursday, November 27
Banks to introduce the contactless payment cards soon

Banks are planning to come with the contactless card soon. The leading banks of the country Kotak Mahindra, ICICI and Axis bank will launch the contactless cards soon. The contactless card are the new mode of payment will eliminate the need of swiping the card.

ICICI bank will be the first one to introduce the contactless card by the next month. The bank will introduce the card in Gurgaon, Mumbai, Hyderabad and Bangalore. Cardholders...

Posted 11:42:28 AM Complete Story | Post Comment | Read Comments(0)

Tuesday, November 25
Banks opening new savings account under PMJDY speedily

According to the recent reports the banks are working hard to make the PMJDY a success and make every household to have a savings account by next year. As per the reports till 19th November banks have successfully opened 7.73 crore new savings account under PMJDY scheme.

Banks are coming up several measures for this scheme. Recently Corporation Bank has organized a special camp for this scheme. The Chairman and managing director of the...

Posted 11:32:28 AM Complete Story | Post Comment | Read Comments(0)

Monday, November 24
UCO bank introducing services to make banking convenient

State owned bank- UCO bank announced that bank is aiming to launch 50 new e-lobbies. The bank wants to add 50 new e-lobbies to its existing network. The lobbies will add comfort in banking for the customers.

The customers will be able to withdraw and deposit cash, get their passbook printed and other such banking works easily. The bank is installing new 500 self passbook printing machines at the bank branches. Apart from this...

Posted 11:45:40 AM Complete Story | Post Comment | Read Comments(0)

Thursday, November 20
Banks to launch the contactless cards soon

It has been reported that banks will launch the contactless cards soon. The contactless card will make the transactions in one tenth of time originally taken in making electronic payments. ICICI bank has announced that bank will soon launch contactless credit and debit cards.

The bank also informed that these cards will bring a significant change in payment system and in addition to this will also increase the standard of security. The bank has launched...

Posted 11:38:17 AM Complete Story | Post Comment | Read Comments(0)

Tuesday, November 18
SBH bank rolled out e-connect facility

Last day State Bank of Hyderabad has launched its e-connect service at Rajiv Gandhi International Airport. Managing director of the bank stated that this e-connect is an innovative measure its like a branch away branch. This technology will help the customers in banking.

Customers can access the ATM for their cash needs, can operate the self service kiosk and even use the SBH’s internet banking facility. SBH aims to set up such new e-connections...

Posted 11:19:15 AM Complete Story | Post Comment | Read Comments(0)

Monday, November 17
Report on Deposit and credit growth of the banks

According to data of the Reserve bank of India the bank deposits have doubled up this time. The records show that Bank deposits grew in double digits at 12.3 per cent to touch Rs 81.14 lakh crore. Last the bank deposits stood at 11.5%

The reports have also stated that the credit grew at 9.4 per cent to Rs 61.57 lakh crore during the July-September quarter of 2014-15 and for the previous year the credit...

Posted 11:38:42 AM Complete Story | Post Comment | Read Comments(0)

Friday, November 14
New co branded credit card rolled out by American express

A highly populated credit card company American express has recently rolled out a new credit card in association with makemytrip. Stating the features of this co-branded card American express informed that The new card is loaded with freebies including a Rs 9,000 welcome voucher and also a 2.5 per cent fuel surcharge waiver at HPCL outlets. In addition to this card will facilitate the customers to make the payments easily with installments facility along...

Posted 11:32:01 AM Complete Story | Post Comment | Read Comments(0)

Friday, November 14
SBH bank to add more branches in AP

An associate bank of State bank of India- State bank of Hyderabad is looking forward to expand its network in Andhra Pradesh. The Managing director Mr. Santanu Mukherjee stated that bank will cross the mark of 400 branches by the end of the fiscal year. Currently bank is having 386 branches in the state.

Overall the bank has a huge network of 710 branches in Telangana and 1,751 all over the country. Yesterday...

Posted 11:30:02 AM Complete Story | Post Comment | Read Comments(0)

Thursday, November 13
Banking strike hampered many operations across the country

Last the banks were not operational for the entire. Protesting against the wage revision banks were on strike for the day. Reports have shown that the due the banking strikes. Much of the business in the country was hit.

The strike was carried out in the some 75,000 branches of 27 state-run banks. The strike took place across the several branches all across the country. On the day clearance of nearly 10 million cheques was...

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

Wednesday, November 12
Minimize your ATM transaction

The free ATM transactions and the charges are much in news these days. All the banks are declaring the number of free transactions they will allow to their customers. Recently SBI, HDFC and AXIS had announced to provide only free five transactions at their own ATM and three at the other banks ATM. From the 6th transaction onwards the bank will be charging Rs 22.47 for the cash withdrawal.

As per RBI the...

Posted 11:32:01 AM Complete Story | Post Comment | Read Comments(0)

Monday, November 10
SBI, HDFC, Axis has announced to charge Rs 20 after 3rd transactions

Finally the three leading banks of the country have decided to charge a sum of Rs 20 after the free transactions in Metro cities. SBI, Axis, HDFC banks have capped the free transactions to three in the six metro cities.

The customers in Delhi, Mumbai, Kolkata, Chennai, Bangalore, Hyderabad would be required to pay Rs 20 from the 4th transactions onwards . RBI has announced to cap the free transactions to three in the...

Posted 11:55:46 AM Complete Story | Post Comment | Read Comments(0)

Friday, November 7
HDFC to charge customers after 5 free transactions

One of the leading private sector banks – HDFC bank has announced that bank has decided to charge its customers after five transactions from its own ATM and after 3 in the metro cities. Till now HDFC is the first one to charge the customers for making transactions from its own ATM. The rule will applicable from 1st December,2014.

Banks are free to limit the free transactions as per their convenience. Hitherto...

Posted 11:30:07 AM Complete Story | Post Comment | Read Comments(0)

Thursday, November 6
UBI bank allowing 5 free ATM transactions

It was reported that many banks have not yet finalized the number of free transactions from ATM, they will allow to their customers. Taking the lead united bank of India has decided to offer 5 free ATM transaction to all its customers both in metro and non metro cities.

The Bank has also decided to allow unlimited free transactions on its own bank ATM. Hitherto according to the RBI guidelines the banks...

Posted 11:45:01 AM Complete Story | Post Comment | Read Comments(0)

Wednesday, November 5
500 WLAs launched by BTI payments

It has been informed that BTI payments pvt. Ltd has launched 500 India1 white-label ATMs (WLAs) in the country. Lately BTI has launched its 500th ATM n Guntur district Andhra Pradesh.

The company informed that, with the desire to facilitate even the small and rural areas with the banking facilities the 75% of the ATMs set up by them are in the areas where population is less than 50,000.

BTI is joint venture between the...

Posted 11:32:24 AM Complete Story | Post Comment | Read Comments(0)

Monday, November 3
Banks have not finalized number of free transactions at the ATMs

It has been reported that Reserve bank has asked the banks to charge the customers after 5 free transactions from the ATMs. But the banks have not yet unveiled their decision on limiting the free transactions.

The banks are reporting that the limiting of free transactions will increase the footfall in the branches.

They also reported that RBI has allowed them to charge up to Rs 20, however incase the customer will visit them...

Posted 11:37:43 AM Complete Story | Post Comment | Read Comments(0)

Friday, October 31
New outward remittance facility for AXIS bank customers

A Well reputed bank of the country- Axis bank has rolled out a new remittance facility for its customers. The bank has announced to come up with a facility that will help the customers to make faster online outward remittances in over 100 currencies across 150 countries.

The customers will get the option of initiating transfers in total of 101 currencies. This new outward remittance facility will make the remittance easier and hassle free...

Posted 11:38:04 AM Complete Story | Post Comment | Read Comments(0)

Friday, October 31
Urban cooperative bank will also act as PAN Service agents

The apex bank of the country- RBI has now permitted the urban cooperative banks to act as the PAN Service agents. Earlier only well managed were allowed to work as the PAN Service agents.

RBI has instructed that With a view to expanding the scope of fee-based services offered by UCBs, it has now been decided to permit all UCBs to act as PAN Service Agent (PSA) by entering into a tie-up with any...

Posted 11:28:47 AM Complete Story | Post Comment | Read Comments(0)

Thursday, October 30
12000 ATMs in offsite areas connected to the rural bank branches

A service provider company – Hughes has connected 12,000 ATMs of the offsite areas to the rural bank branches in the country. This initiative will assist the govt. in achieving the financial inclusion plan. With the intent to avail the banking service all across the country specially in the rural and unprivileged areas, the offsite ATMs are connected to banking branches.

The Hughes stated that it is pride moment for the company to...

Posted 11:27:09 AM Complete Story | Post Comment | Read Comments(0)

Wednesday, October 29
FinMin has ordered banks to issue Rupay cards to customers under PMJDY

The Finance Ministry has asked the banks to issue the Rupay cards to customers opening accounts under PMJDY and make them operational at the earliest. The customer must be informed that they should keep using the card after a fixed interval, atleast once in 45 days to enjoy the accident insurance cover.

This is an Indian payment scheme launched by the National Payments Corporation of India (NPCI). This card is accepted across all the...

Posted 11:26:29 AM Complete Story | Post Comment | Read Comments(0)

Tuesday, October 28
SBT observing Vigilance awareness week this week

An associate bank of leading bank of the nation State bank of India-State Bank of Travancore has come up with a vigilance awareness week. From yesterday the bank had begun this week. Managing director of the bank Mr. Jeevandas Narayan initiated the week by flagging off a mounted which displays a poster with a message against corruption.

 

All the employees of the bank will work for the week. Mr. Narayan also administered a pledge to...
Posted 11:29:22 AM Complete Story | Post Comment | Read Comments(0)

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