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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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Wednesday, July 23
RBI laid new frame work to regulate banks

It has been reported that apex bank has decided to announce the names of systemically important banks (D-SIBs) by August 2015. The reserve bank of India has decided to monitor the leading banks in India whose failure can seriously impact the financial status and system of the country.

On the basis of the data collected apex bank will announce the name of the banks supposed as domestic systematically important banks. The central bank said...

Posted 11:26:03 AM Complete Story | Post Comment | Read Comments(0)

Wednesday, July 23
Drop down in profit of ING Vysya Bank

Private sector bank- ING Vysya Bank has reported a drop down of 18% in its net profit. The bank’s profit has gone down to Rs 143.4 crore from Rs 175.1 crore.

According to the reports till end of the quarter this year bank’s profit has slashed down by 18%. Net interest income has increased by 8.8% to Rs 463.1 crore, from Rs 425.4 crore. The adjusted net interest margin is 3.52% compared to 3.56%...

Posted 11:21:34 AM Complete Story | Post Comment | Read Comments(0)

Tuesday, July 22
Rise in the net profit of Canara Bank

State owned bank – Canara Bank has reported an increase of 1.86% in net profit at Rs. 806.86 crore for the quarter ended June 30. Last year the profit of the bank was Rs 792.07 crore. Chairman and managing director of the bank reported that in the past 8 quarters the profit of the bank has never crossed Rs 800 crore. From last two years the profit of the bank was below 800 crore.

...

Posted 11:15:41 AM Complete Story | Post Comment | Read Comments(0)

Monday, July 21
80 new branches to be established by BOI

State owned bank - Bank of India has planned to establish 80 new branches in the red zone area of the Jharkhand. The bank is focusing on expanding its banking network, mainly the bank is looking after to widen and enhance its business in Agriculture, MSME and retails sectors.

It has been reported that BOI is one of the leading banks in 15 districts, with huge business and a turnover of Rs Rs.25,000 crores...

Posted 11:31:01 AM Complete Story | Post Comment | Read Comments(0)

Friday, July 18
SBI bank tied up with RML services LTD

The largest leading Bank of the country – State bank of India has decided to work with RML Information services LTD. Through this tie up bank will be providing personalized agriculture related information to its customers.RML services is a mobile-based personalised information and engagement service for agri community.

By charging a nominal fees the bank will offer the facility of information on weather, input prices, crop diseases, government schemes/ initiatives, market prices of produce, etc. through...

Posted 11:12:36 AM Complete Story | Post Comment | Read Comments(0)

Friday, July 18
Payments banks will not offer lending activities

As a part of the financial inclusion plan RBI has decided to set up the payment banks which will help in enhancing the financial services in the country. It was reported that the payment banks will only accept demand deposits — current and savings bank deposits. The payment bank will not be providing any loan facilities.

Payments Banks are not expected to deal with sophisticated products. The main purpose of setting up the...

Posted 11:07:40 AM Complete Story | Post Comment | Read Comments(0)

Thursday, July 17
New Service for NRI by ICICI bank

For the Indians who have now shifted to Canada, ICICI bank has launched a scheme to assist them in opening account with the ICICI bank in India. The Bank has propelled this new Scheme - Global Banking-Hello Canada that will provide the customer with the facility of opening a Canadian Dollar (CAD) Account with ICICI Bank Canada along with an NRI (Non Resident Indian) savings account with ICICI Bank in India.

The process...

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

Thursday, July 17
Federal bank reported a high increase in its net profit

State owned bank Federal bank has reported a high profit in its growth. The bank has earned net profit more than doubled to Rs 220.23 crore in the April-June quarter of 2014-15 against Rs 105.66 crore.

Total deposits of the bank have increased by 3.49 per cent to Rs 61,815 crore. The bank has been steadily growing and enhancing its business. The bank is intending to reach more customers and establish more branches across...

Posted 11:21:01 AM Complete Story | Post Comment | Read Comments(0)

Tuesday, July 15
Fire safety audit to be conducted at all the SBI branch

After the recent fire incident that happened at a SBI building in Chennai, the State Bank of India has decided to organize a fire safety audit in all its branches across the country. Soon the bank will be conducting this audit.

Chief General Manager of the bank Mr. Rao reported that already on the periodical basis they had this, but this audit is going to be more intensive and serious. The reason of the...

Posted 11:19:01 AM Complete Story | Post Comment | Read Comments(0)

Monday, July 14
BOI expanded its customer base

Bank of India a well established bank of the country, having a large customer base all over the country recently has added 1.20 crore new customers. The chairman and managing director of the bank reported that in the last fiscal year bank has made its customer count up to 7.70 crore, which is big achievement for the bank.

It has been also reported that in addition to the current 131 branches, the bank is...

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

Friday, July 11
New savings scheme introduced by Post office

A new savings scheme is announced, that will help in uplifting the economy by channelizing the common man’s savings. The post office new savings scheme Kisan Vikas Patra (KVP), a National Savings Certificate (NSC) with insurance cover. This scheme will assist the people in fulfilling the needs of girl child like education and marriage, aside of the hiking of PPF investment limit to Rs 1.5 lakh.

The scheme has been reintroduced that will provide a...

Posted 11:20:25 AM Complete Story | Post Comment | Read Comments(0)

Friday, July 11
PSU banks helping upcoming Bank – Bandhan

It has been reported that previous month three leading Banks - Bank of India, Vijaya Bank and HSBC, have assisted the new upcoming bank Bandhan with a loan of Rs 700 crore. Bank of India has given Rs 500 crore with an interest of 13.80%, Vijaya bank has given Rs 50 crore with an interest of 14.50 and HSBC provided a loan of Rs 150 crore.

Bandhan got the approval in April from the...

Posted 11:18:05 AM Complete Story | Post Comment | Read Comments(0)

Thursday, July 10
Overseas banking of Bank of Baroda

It has been reported that a subsidiary of Bank of Baroda is setting up its new branch in Kenya. Already bank is having 10 branches in Meru Kenya, with this new branch bank will be having a total of 11 branches in the country.

Bank of Baroda is having huge banking network overseas which comprises of 103 branches/offices globally. Bank is having 103 offices comprise 60 overseas branches of BoB, 42 branches of its...

Posted 11:22:42 AM Complete Story | Post Comment | Read Comments(0)

Thursday, July 10
Rise in the profit of IndusInd Bank

Public sector bank IndusInd Bank has reported a rise of 26% in its net growth. On the basis of robust income fee and loans bank has achieved a profit of Rs 421 crore by the end of June, 2014.

Last year the profit of the bank stood at Rs 335 crore. The net interest income has increased by 18% from Rs 679 crore to Rs 801 crore. Total advances grew 24 per cent,...

Posted 11:20:25 AM Complete Story | Post Comment | Read Comments(0)

Wednesday, July 9
Govt. wants everyone to have a savings account

The Prime Minister of the country Mr. Modi has asked the PSU banks to open 200 million accounts within a year. The banks must open 200 new accounts from 15 august, 2014 onwards. This is to ensure that every citizen holds a savings account.

According to reports it was noticed that Of the 246.7 million households in the country, 144.8 million have access to banking. The govt. will set up a panel to monitor the...

Posted 11:06:27 AM Complete Story | Post Comment | Read Comments(0)

Wednesday, July 9
Axis Bank and Union Bank to start up their banking in UK

Indian banks are gradually expanding their network overseas, it has been reported that two leading banks of the country Axis bank and Union bank are now among the five banks that are authorized to do banking in UK. UK regulators have made amendments to reduce barriers for entry of new financial institutions, among the five banks there are 2 Indian which have got the approval to start up the banking in UK.

Although Canara...

Posted 11:04:18 AM Complete Story | Post Comment | Read Comments(0)

Tuesday, July 8
Banks to provide more Smart Banking Branches

Now days maximum user are Tech Savvy, so in order to support the tech savvy customers and provide the easy banking facilities banks have decided to provide more online options to the customers to make the transactions faster. The digital branches are a way out developed by the banks to cater to the tech savvy customers.

The digital branches will provide various advantages in terms of services, products, efficiency. The branches will also help in...

Posted 11:30:37 AM Complete Story | Post Comment | Read Comments(0)

Monday, July 7
First Prize for promoting national Language in bank : Central Bank

It has been reported that for promoting the National Language in the bank, Andhra Pradesh State-Level Bankers’ Committee awarded the central Bank of India with the first prize. At the 184th Andhra Pradesh State Level Bankers’ Committee held in Hyderabad, Nara Chandrababu Naidu, Chief Minister of Andhra Pradesh announced the central bank as the winner and awarded K. Eswar, Field General Manager, Central Bank of India with a trophy and certificate.

According to the...

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

Monday, July 7
Kisan Sampark program launched by ICICI bank in Haryana and Punjab

Second largest leading bank of the country – ICICI bank conducted a Kisan Sampark Programme in 170 villages of Punjab and Haryana. As a part of its financial inclusion plan the bank organized this program. The aim of the program was to create awareness among the farmers regarding the agri -banking tools that will assist them. The program was initiated to develop the savings habit among the farmers.

In the program bank highlighted the...

Posted 11:20:47 AM Complete Story | Post Comment | Read Comments(0)

Friday, July 4
HDFC bank launched secure banking awareness program in Gujarat

One of the leading Banks of the country – HDFC bank yesterday launched a banking program in Gujarat. The program was to aware the customers regarding the safe and secure banking. To help the customers in making the safe transactions bank took this initiative.

The bank conducted this safe and secure banking program across the 27 branches of the bank across the state. The program dealt with the various banking measures that customers should...

Posted 11:35:13 AM Complete Story | Post Comment | Read Comments(0)

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