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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Wednesday, April 9
Drop down in credit card space –HDFC bank

HDFC - Leading bank in the credit card business, reported a drop down in the business of credit card. Public sector banks have increased the issuance of the credit cards. It has been noticed that for the second continuous year there is a fall of 4% in the credit card business.

The HDFC bank still continues to be the largest credit card issuer. HDFC Bank's rivals including ICICI Bank, Axis Bank and State Bank of...

Posted 10:51:25 AM Complete Story | Post Comment | Read Comments(0)

Tuesday, April 8
Few more interest free days to pay credit card dues

Good news is lined for the credit card holders. The apex bank has asked the banks to make credit card charges reasonable and instructed them not to charge any interest on card dues till the next bill date even if payment is not made before the due date. At present the bank charges the interest rates from the credit card holders at expiry of the due date. Now the banks will be providing few more...

Posted 08:57:22 AM Complete Story | Post Comment | Read Comments(0)

Friday, April 4
Increase in credit card base

According to the worldline India Credit card payment report a rise is noticed in the credit card base. The credit card base has grown by 4% in fiscal year 2014. The credit cards have reached up to 20.3 million. Overall card spends grew 17 per cent from Rs 122.9 crore to Rs 144.3 crore with in a year.

Further the report has also stated that for the second continuous year a growth...

Posted 11:07:06 AM Complete Story | Post Comment | Read Comments(0)

Tuesday, April 1
SBI asked its employee to use the own bank ATM.

The Data of country’s largest bank State Bank of India stated that a large number of its employee use other bank’s ATM for making transactions. Nearly 280,000 card swipes are made in other bank’s ATM. Every card swiped at other banks’ ATM makes that branch richer by Rs 15. As result of which this is bringing down the profit of the bank by Rs 5 crore per year. Bank has asked the employee...

Posted 11:13:52 AM Complete Story | Post Comment | Read Comments(0)

Friday, March 28
Kisan Credit card for the agrarian customers of Axis bank

One of the largest banks of the country Axis bank rolled out a new card facility for the farmers. In order to facilitate with more ease, comfort and greater number of facilities to the farmer’s, bank initiated ‘Kisan Card’ that will be help the farmers in getting agriculture loan easily through the ATMs. The kisan credit card will be linked to the farmers crop loan account.

This facility will eliminate the need...

Posted 11:24:55 AM Complete Story | Post Comment | Read Comments(0)

Tuesday, March 25
New product for students rolled out by Canara Bank

Recently at an occasion the Chairman and managing director Mr. RK Dubey of the canara Bank launched out a new innovative credit card. In order to empower and facilitate students with a hassle free access to student loan bank launched campus card. This card is designed especially for the students that will help them, basically it will help out the students of the weaker sections.

The students can use the card to pay their...

Posted 11:10:21 AM Complete Story | Post Comment | Read Comments(0)

Monday, March 24
New debit card facility for KVGB bank customers

In order to facilitate the customers with the latest banking technology the Karnataka Vikas Grameen Bank- A bank sponsored by syndicate bank has launched the facility of Rupay Debit card for the customers. The chairman of the bank reported that with the help of this card the people in rural areas will be able to access the latest technology oriented facilities easily.

Further it has been added that bank plays an important in guiding...

Posted 11:02:50 AM Complete Story | Post Comment | Read Comments(0)

Thursday, March 20
Co-op bank in Gujarat launched RuPay debit cum ATM card

For the first time in Gujarat, co-op bank has rolled a new RuPay debit cum ATM card for its customers yesterday. The bank will be offering the credit cards to around 1.3 crore customers in the country. The customer can use these cards at 1.6 lakh ATMs and 8.75 POS terminals.

Rupay is an Indian domestic card conceived by National Payments Corporation of India (NPCI) which was started in March 2012 . Out of...

Posted 09:16:01 AM Complete Story | Post Comment | Read Comments(0)

Wednesday, March 19
New deputy CEO of ING Vysya Bank

From the 1st April, 2014 the private sector bank ING Vysya will be working under new CEO. Bank has appointed Uday Sareen as Deputy CEO, Head of Wholesale Banking and Strategy . Mr. Sareen will be controlling the Bangalore-based branch, all the responsibilities of wholesale banking, financial market services are to be taken care by him. He will also guide the banking planning and schedule across the branch

. It has been reported...

Posted 10:56:50 AM Complete Story | Post Comment | Read Comments(0)

Tuesday, March 18
A new card rolled by Federal bank for people in banglore travelling through metros

A state owned bank Federal Bank has launched a new innovative dual card for the people in banglore. In association with Bangalore Metro Rail Corporation Limited (BMRCL) Federal bank has launches a NAMMO metro card. The card will enable the merto customers of the banglore to make the payment easily withoout the need of the travel tokens.

The card will provide the customers with the benefit of 15-21% concession on the fare. According...

Posted 10:59:32 AM Complete Story | Post Comment | Read Comments(0)

Friday, March 14
SPB bank to launch green concept branch

A private sector bank State bank of Patiala has joined hands with Desh Bhagat University in Punjab to start up a green concept branch. The bank is planning to open this branch by the mid of the next month. This will be a environment friendly and technology based branch. The branch will be only for computer in sighting persons in the university.

This will be a total technology focused branch with only one...

Posted 11:17:14 AM Complete Story | Post Comment | Read Comments(0)

Thursday, March 13
109th Anniversary of Corporation Bank

Yesterday it was the 109th anniversary of the corporation bank. On this occasion Bank launches two new facilities for its customers e- passbook and Corp global card. Further to mark the 109th anniversary bank announced to open 109 branches and 109 ATMs across the country.

The bank will be offering more advanced technologies to its customers that will help them in accessing financial services more easily. With the help of the e-passbook the customer...

Posted 11:06:39 AM Complete Story | Post Comment | Read Comments(0)

Tuesday, March 11
Thousands of money dispensing machines coming by the end of March

As per the records, the PSU banks have established nearly 14,855 ATMs by December, and there is still more need 20,000 ATMs to achieve the target of at least one onsite ATM in every branch.

In order to complete their task bank will installing 20,000 ATMs by the end of March. There is requirement of an onsite ATM across all the 72,340 branches. Till last year banks have established one onsite ATM across 37,672 branches...

Posted 11:01:49 AM Complete Story | Post Comment | Read Comments(0)

Monday, March 10
Canara bank tied up with Binconand OTTET to provide e-healthcare plan

In order to offer e-health care facilities to the people living in under development and rural areas of odhisa, Canara Bank has decided to work up with Bincon and OTTET (Orissa Trust of Technical Education) for a unique public-private partnership (PPP) with the Odisha Government.

Biocon Foundation, Canara Bank and OTTET has signed a memorandum regarding this, and will working to implement and expand this e-health care plan. The Aim of the measure is...

Posted 10:54:09 AM Complete Story | Post Comment | Read Comments(0)

Friday, March 7
Banks opting more for insurance covers against online frauds

According to a report due to the increasing skimming and online fraud cases the banks are opting for more insurance covers against online frauds, phishing and skimming. Insurance companies showed that large Indian banks are opting for policies worth Rs 500 crore to shield against fraud.

Due to the rise in the use of plastic money, credit cards, online banking the risk of skimming and phishing are increasing rapidly. TR Ramalingam, head of underwriting at...

Posted 11:01:07 AM Complete Story | Post Comment | Read Comments(0)

Thursday, March 6
Corporation bank signed memorandum with UTI Infrastructure Technology & Services Ltd

In order to facilitate its customers with more innovative and value added products, one of the finest banks corporation bank has signed up memorandum with UTI Infrastructure Technology & Services Ltd. The bank will be providing PAN cards to its customers through its selected branches. It has been reported that bank has validated 55 branches to issue the PAN cards to its customers.

Basti N Shenoy, General Manager of the bank, stated...

Posted 10:58:17 AM Complete Story | Post Comment | Read Comments(0)

Wednesday, March 5
Axis bank hiked the rates on credit card dues

It has been reported that Axis bank customers will now be charging more for the credit card dues. The Axis bank has increased the rates on credit card dues from 2.95% to 3.25%. Jairam Shridharan, head of consumer lending and payments at Axis Bank.reported that the customers who will not pay the charges on time will now be charged more paying the outstanding dues. He further stated that given the economic and risk conditions...

Posted 10:53:46 AM Complete Story | Post Comment | Read Comments(0)

Friday, February 28
Chennai the first one to have Post office saving bank ATM facility

Finance Minister initiated country’s first post office savings bank ATM in the country today in Chennai. Under the IT modernization scheme it was planned to make department of Post fully technology oriented and this is the first step towards the initiative. After launching the first ATM at Thiyagaraya Nagar Head Post Office (HPO) Mr. Chidambaram reported that 1.55 lakh more are there to be established by the next year.

People believe that the post...

Posted 11:16:07 AM Complete Story | Post Comment | Read Comments(0)

Wednesday, February 26
Bhartiya mahila Bank rolled out three new health schemes

Recently it has been reported that the country’s first women oriented bank Bhartiya Mahila Bank has tied up with New India Assurance Company. The bank is planning to launch three to health products for its women customers in association with the New India Assurance Company.

Usha Ananthasubramanian chairman of the company reported that the company and the bank jointly will offer BMB sakhee, BMB Nirbhaya and BMB- parivar suraksha. The three plans will offer complete...

Posted 11:13:16 AM Complete Story | Post Comment | Read Comments(0)

Tuesday, February 25
Indian Bank thinking to shut some ATMs at dusk

Worried regarding the security issues of the ATM, the private sector ending bank Indian Bank is planning to close some of the ATMs at night. Most of the rural area ATMs will be closed. According to a report bank has noticed that during the night hours 650 ATMs out of 1700 ATMs all over the country showed zero transactions.

Keeping this in mind bank is thinking to close such ATMs from 10 p.m to...

Posted 10:55:11 AM Complete Story | Post Comment | Read Comments(0)

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