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Money wise guy and his musings
Credit cards have always fascinated Vaibhav, who since his early days in the college have aspired to become a part of this mainstream media. Finding blogging as the perfect platform, Vaibhav puts his views on various personal finance topics especially, the wise use of the plastic. A Delhi University graduate, Vaibhav blogs regularly at rupeetimes.com.
By Vaibhav Aggarwal

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Thursday, October 30
Post offices an important part of financial inclusion

According to the reports it has been noticed that post offices share an efficient role in financial inclusion. There are nearly 1.6 billion savings and deposit accounts under post offices all over the world. The figures represent that postal institutions are playing an important role in financial inclusion.

It is expected that Postal Savings Banks Forum will try to force more of postal banking in the retail banking market. India has about 1.55...

Posted 11:33:39 AM Complete Story | Post Comment | Read Comments(0)

Thursday, October 30
Growing NPAs a serious problem for the banks

It has been reported that the growing NPAs in the banks are posing great challenges. The NPAs have become a serious problem for the banks. Managing director and CEO of the South Indian Bank reported that lenders and bank are ready to fasten up the lending but is it important to focus on the credit risk.

It is expected that govt. recover from the crisis in the future. . The government and the...

Posted 11:29:15 AM Complete Story | Post Comment | Read Comments(0)

Wednesday, October 29
Tamilnad bank urged to increase the retirement age of employees

The staff of Tamilnad mercantile bank has demanded to increase the retirement age by 2 years. The bank employees has urged to All India Bank Employee Association to make the retirement age to 60 years.

At present the retirement age is fixed at 58 years. Tamilnad bank is having a huge network of 400 branches with 3,200-plus employees and officers working. All the commons rules and guidelines are applicable in bank similar to that of...

Posted 11:40:29 AM Complete Story | Post Comment | Read Comments(0)

Wednesday, October 29
New branch of Bank of India to be set up in Vietnam

Public sector bank – Bank of India is ready to set up its new branch in Vietnam. The bank is expanding its banking network overseas. With the intent to do so the bank has planned to open new branch in Vietnam.

Bank has got the approval along with the License from the apex bank to start up the new branch. The license was handed after delegation level talks between Prime Minister Narendra Modi...

Posted 11:28:50 AM Complete Story | Post Comment | Read Comments(0)

Tuesday, October 28
Banks reduced rates on savings below Rs 1 lakh

It has been reported that banks are reducing interest rates on the savings account. Lately two leading banks of the country kotak Mahindra bank and IndusInd bank have reduced the interest rates by 0.50% to 5% on the savings below Rs 1 lakh.

IndusInd Bank has slashed down the rates by1% to 4.5% on the daily savings up to Rs 1 lakh. Yes bank offers an interest rate of 6%...

Posted 11:31:55 AM Complete Story | Post Comment | Read Comments(0)

Tuesday, October 28
Partial practice of bank for charging customers at non home branches

It has been reported that banks are being unfair by charging the fee for making transaction at the non home branches. RBI has ended the disparity in charges for cash transactions at home branches and non-home branches.

Banks are charging customers if they frequently use non home branches. The people living away from the home branches are facing problems. State bank of India has restricted the free transactions up to 5 per month, after that...

Posted 11:24:28 AM Complete Story | Post Comment | Read Comments(0)

Monday, October 27
SBH bank introduced campaign to help MSME

Last week an associate bank of SBI – State Bank of Hyderabad has launched a campaign for micro and small entrepreneurs. The Campaign named ‘Subh Labh’ was introduced to help and the MSME segment.

Through this campaign the bank wishes to offer concessions on interest rates, processing charges and various other facilities to the entrepreneurs who all are planning to set up new business. Through this campaign the entrepreneurs will get the assistance...

Posted 11:23:34 AM Complete Story | Post Comment | Read Comments(0)

Monday, October 27
SBI aims to disburse Rs 250 crore per day

State Bank of India has planned to disburse home loan of Rs 250 crore this festive season. The bank has set a target for the loan disbursal this time. Bank wants to disburse nearly Rs 250 crore everyday.

The Home loan disbursal is rising steadily. Earlier it was merely Rs Rs 130 crore in the beginning then it increased to Rs 150 crore then to Rs 175 crore and has now stabilized at Rs...

Posted 11:19:44 AM Complete Story | Post Comment | Read Comments(0)

Tuesday, October 21
Himachal cooperative bank to launch new branches

It has been informed that Himachal cooperative bank will launch four new banking branches and 9 extension counters. To assist the people in the unprivileged and rural areas the bank wanted to extend its services over there.

Chief Minister Mr.Virbhadra Singh has asked the bank to facilitate the more enhanced banking services through the business correspondents, mobile vans and branch networks. The bank has received approval from the apex bank to establish the branch...

Posted 11:31:26 AM Complete Story | Post Comment | Read Comments(0)

Monday, October 20
16 new branches of Andhra bank in Kochi to be launched soon

Andhra Bank has planned to expand its network with the establishment of new branches in Kochi. The bank has unveiled its decision to launch 16 new branches in the state, including six in the Ernakulam district. The bank wanted to have a total number of 42 branches in the state by the end of March next year.

With the intent to increase the revenue generation the bank will now more focus on gold loan, MSME,...

Posted 11:35:17 AM Complete Story | Post Comment | Read Comments(0)

Monday, October 20
E-mandate facility launched by Corporation bank

Corporation bank has launched a new ‘e-mandate’ service to support the huge amount of repetitive payments. The bank wanted to offer the platform to the utility companies for monthly subscriptions/bill payments and other finance companies for instalment payments; education institutions for school fee payment; and manufacturing companies.

The facility is launched by the Chairman and managing director of the bank Mr. S R Bansal. The activities under the E-mandate service are collection of mandate,...

Posted 11:26:58 AM Complete Story | Post Comment | Read Comments(0)

Friday, October 17
Anywhere anytime banking

It has been reported that last day the head post office has launched the core banking system for the customers. In order to make the banking services more convenient for the customers the post offices across the country will have core banking system.

This measure is introduced to making anytime and anywhere banking for the people. Any common man can make any banking transaction from the post office equipped with the CBS system. This facility...

Posted 11:12:44 AM Complete Story | Post Comment | Read Comments(0)

Thursday, October 16
Canara Bank to help enterprenuers through its facilitation centers

Public sector bank – Canara Bank has planned to help the entrepreneurs through its MSME facilitation centre. The bank will be providing collateral free loans to the women wishing to stat up their business.

The MSME centers of the bank are set up to serve the needs of the entrepreneurs basically. Bank is having five MSME facilitation centre located at Hyderabad, Chandigarh, Noida, Mumbai and Coimbatore.

 

Through these centre the bank wish to assist the people...

Posted 11:19:21 AM Complete Story | Post Comment | Read Comments(0)

Thursday, October 16
RBI to keep coin exchange counters retained for public interest

The apex of the country – RBI announced that it will keep its counters open for the common public to exchange the currency. In 2012-13 the counters were asked to close down but united forum protested and has asked to keep up these counters and provide the exchange facility to the common people.

It has been also reported that these counters handle as much as 90- 95 per cent of the exchange of notes and coins....

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

Wednesday, October 15
Banks have begun to demonstrate for the wage revision

The Banks have begun to demonstrate thier agitation through the Dharna. In order to get their demand of five days working and wage revision the All-India Bank Officers’ Confederation (AIBOC) has marked the beginning of its agitation programme.

Recently we reported that the banks will soon go on strike as well by the next month. yesterday AIBOC marked the beginning of the program. Bankser are not unhappy with their salaries they want revision and...

Posted 09:23:57 AM Complete Story | Post Comment | Read Comments(3)

Wednesday, October 15
Deposit growth of banks raised up 11%

Recent data has shown that the credit in the bank has increased this year. it is being noticed that the credit has went up 11% in last one year. Although from the March to september this year the credit slipped down but now the credit has surged to double digits from 9.72 per cent recorded at the end of September 19.

The RBI data has stated that the credit has increased from Rs 56,50,107 crore...

Posted 09:20:09 AM Complete Story | Post Comment | Read Comments(0)

Tuesday, October 14
First women oriented banking branch in HP

A small Cooperative Dharmshala based –Kangra Central co-op bank is launching its ever women oriented branch. For the first time a bank in Himachal Pradesh is launching a women oriented branch in the state. On the New Year occasion – 1st January 2015 the branch will become operational. The branch will be launched in Depot Bazar locality. After this branch bank will further set up 5 new such branches in 5 different districts of...

Posted 11:15:07 AM Complete Story | Post Comment | Read Comments(0)

Tuesday, October 14
IndusInd bank profit rises up

The new generation Bank – IndusInd bank has reported that bank has earned a profit of Rs 430.20 crore for the quarter ended September. Bank stated that bank has a got a 30% rise in its net profit this time. It is believed that the higher net interest income and a rise in fee income are the major factors, for the profit of the bank.

The non-interest income was up 34 per cent...

Posted 11:11:12 AM Complete Story | Post Comment | Read Comments(0)

Monday, October 13
Bank decided to withdraw their extra cooperation until IBA will attend their demand of wage revision

It has been reported that The All India Bank Officers' Confederation (AIBOC) has planned to go on two days strike along with the other constituents of UBFU for the wage revision. From long back the banks are demanding for the revision in their wages Further the AIBOC has also decided to stick to their working hours they will not be working on the weekends and holidays.

In the first week of November through the...

Posted 11:22:15 AM Complete Story | Post Comment | Read Comments(0)

Monday, October 13
Financial literacy camp by SBI and NABARD

Few days ago, State bank of India in association with National Bank for Agriculture and Rural Development (NABARD) has organized a financial literacy camp in Tseminyu. In order to aware the people regarding the banking services and their advantages the banks organize such camps. Chunlikha is a village where the people are unaware about the banking.

With aim to give the knowledge reading banking SBI along with NABARD organized financial literacy camp highlighting...

Posted 11:18:28 AM Complete Story | Post Comment | Read Comments(0)

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