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
By Vaibhav Aggarwal

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Friday, September 12
SBI to open new branches in Orissa

Recently State bank of India has reported that the bank is planning to set up 20 new branches in Orissa by the end of this fiscal year. Yesterday bank has already launched 15 new branches in the state making a total of 799 branches in the state.

Out of 15, 8 branches are set up in the area completely devoid of banking facilities. 82% of the branches of the bank are located in rural...

Posted 11:19:23 AM Complete Story | Post Comment | Read Comments(0)

Thursday, September 11
New savings accounts scheme for minors: SBT

One of the associate banks of the State bank of India – State bank of Travancore has rolled out a new savings deposit scheme. This new savings deposit scheme is especially for children for the below 18 yrs of age.

It has been reported by the bank that the parent or guardian of the child can open this account on the name of the child and further the child can operate this account.


Posted 11:28:29 AM Complete Story | Post Comment | Read Comments(0)

Thursday, September 11
SBM tied up with RML services

State bank of Mysore has tied up with Mumbai based -RML Information Services. Through this tie up the bank will be providing SMS based services to over five lakh customers of the bank.

To support and assist the farmers the bank has signed up this memorandum. RML will provide the personalised agri information to farmers on weather, input prices, crop diseases, government schemes/initiatives, and market prices of produce through SMS. The experts will...

Posted 11:26:38 AM Complete Story | Post Comment | Read Comments(0)

Wednesday, September 10
Some Indian bank branches may face closure in UK

Recently it has been reported that various branches of Indian bank may face closure in U.K. Because of the global crises in England the Bank of England's Prudential Regulatory Authority (PRA), responsible for supervising individual banks, stated that they may ask some of the Indian branches to shut down. Though the name of the banks has not been reveled but State bank of India and bank of India are expected to be amongst them.


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

Tuesday, September 9
First multi currency debit card rolled out SBI

Yesterday, the state bank of India launched its first multi currency international debit card. The bank in association with the master card has decided to launch this debit card that will allow the customers to make the payments of various currencies through a single card.

The deputy managing director of the bank stated that through this card the customer can make the payments in four currencies US dollar, euro, Great Britain pound and Singapore...

Posted 11:20:59 AM Complete Story | Post Comment | Read Comments(0)

Tuesday, September 9
LVB bank offering interest rate of 5% on savings accounts

Private sector bank Laxmi Vilas Bank has made certain amendments in the interest rates for the savings accounts. The bank has increased the rate by 1%. For the account balance of more than Rs 1 lakh the interest have been made to 5%, earlier it was 4% p.a.

The bank reported that if the customer keeps the balance of Rs 1lakh or above in the account even for single he will be offered with...

Posted 11:18:01 AM Complete Story | Post Comment | Read Comments(0)

Tuesday, September 9
SBI to offer customer call facility to the customers

Looking forward to help the under privileged people, SBI along with its 5 associate banks has planned to offer customer call facility. Apart from opening the accounts for the people the bank will be starting up the call facility to provide the customers with updates on balance, last five transactions and cheque book request on their mobile phones.

The bank is looking for the service provider who will assist the bank in getting the mobile...

Posted 11:08:40 AM Complete Story | Post Comment | Read Comments(0)

Monday, September 8
New savings products for minors by SBI

The largest lending institution of the country State bank of India has rolled out two new savings product for the minors. In order lure more number of youngsters the bank has introduced the products - ‘Pehla Kadam’ and ‘Pehli Udaan.

Throwing the light on the product details bank reported that Pehla Kadam is a SB account that children can open jointly with their parents and Pehli Udaan can be singly operated by the...

Posted 11:24:30 AM Complete Story | Post Comment | Read Comments(0)

Friday, September 5
First e-lounge of IDBI bank in Mumbai

Yesterday private sector bank – IDBI Bank initiated its first e-lounge in Mumbai. The bank launches the new branch at the Mahim Branch in Mumbai.

This e-lounge will enhance the services offered to the customers. With more ease now the customers can make the banking transactions. The e-lounge will offer the facility of ATM, automated pass book printing, Transact terminal for various Card and Net Banking holders to view balance, make a funds transfer,...

Posted 11:20:16 AM Complete Story | Post Comment | Read Comments(0)

Friday, September 5
KVG bank opened lakhs of savings account under PJDY

All the banks are rigorously working for the Pradhanmantri Jan Dhan Yojana. With aim to have savings accounts in all the households the banks are supposed to open 7 crore bank accounts by the next fiscal year.

Apart from the public and private sector lending institutions, Grameena banks are working too for this Yojana. It has been reported that syndicate bank sponsored Karnataka Vikas Grameena Bank has shown a overwhelming record within a week....

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

Thursday, September 4
RBI established supervisory college for Axis Bank

It has been reported that the Apex bank of the country has established a supervisory college for the Axis bank in Mumbai. In order to maintain and improve the understanding of the risk profile of the banking group the RBI has set up this college. It will also look towards the enhancement of the mutual trust and co-operation among the supervisors.

These colleges are especially set up for the banks that have...

Posted 11:27:53 AM Complete Story | Post Comment | Read Comments(0)

Wednesday, September 3
Two new branches of BMB bank in Barielly

The govt. has decided to set up two new branches of Bhartiya Mahila Bank in Bareilly. One branch will be established in the city and the other will be in the rural area of the city. Presently the bank has only services in capital areas of the states.

The new branches will be opened in the old city and other at Senthal. The purpose to establish the women bank is to empower the women...

Posted 11:04:40 AM Complete Story | Post Comment | Read Comments(0)

Wednesday, September 3
Cooperative banks to work on CBS platform to deliver more efficient services

The cooperative banks will now also provide the banking facilities such as any branch banking, NEFT, RTGS etc. The NABARD has planned to bring all cooperative banks on to core banking solution and provide the banking facilities in the rural areas of country.

201 state and district level Central Cooperative Banks with 6914 branches have joined this plan of NABAR. With the aim of making banking transactions faster and baking more efficient the NABARD...

Posted 10:59:04 AM Complete Story | Post Comment | Read Comments(0)

Tuesday, September 2
New savings account opened by Andhra bank

Under the Pradhan Mantri Jan Dhan Yojana the Andhra Bank has opened 5.27 lakh new saving bank accounts all across the country. All the banks are working to achieve the aim to open 7 crore savings accounts, to have one savings account in each household.

The bank has organized various camps at the district and village level to open savings account. The account holders were also given with the kits containing passbook and rupay...

Posted 11:04:53 AM Complete Story | Post Comment | Read Comments(0)

Friday, August 29
Over lakhs of savings account opened in the first phase of the PMJDY

Last Day in the first phase of the Prime Minister's Jan Dhan Yojana (PMJDY), several banks have opened more than 11 lakhs savings account in Karnataka. With full energy banks are working in opening the savings accounts to accomplish the aim of PMJDY. On this the executive director of the syndicate bank stated that this is more than they have expected. They were aiming to open 10.25 lakhs accounts but it went...

Posted 12:05:28 PM Complete Story | Post Comment | Read Comments(0)

Friday, August 29
Canara Bank tied up with the SFAC organization to support farmers

To support the farmers the Canara Bank has entered in to a partnership with the Small Farmers’ Agribusiness Consortium (SFAC). Through this partnership the bank will be providing collateral free lending to farmer producer organisations (FPOs).

SFAC is a society that works for the enhancement of the farmers. Along with this society the bank will work for the development of farmers and will extend the loan facility to FPOs. Mr. SS Bhat General Manager,...

Posted 12:03:06 PM Complete Story | Post Comment | Read Comments(0)

Thursday, August 28
Banks to provide 7.5 cr savings accounts covering all the poor sections of the society

To accomplish the task of providing the savings account to all the people in country, banks have planned to organize about 60,000 camps through which they will be opening 7.5 crore basic banking accounts by the mid august next year.

Under the PradhanMantri Jandhan Yojana it is aimed to provide banking to all the rural and poor people across the country. ZUnder this scheme the account holders will be provided with the rupay debit card...

Posted 11:15:36 AM Complete Story | Post Comment | Read Comments(0)

Thursday, August 28
New ATMs to be set up by Indian Post

Within coming few years, Indian Post has planned to set up 1000 new ATM machines. In order to hive off its financial services in to a bank the Postal department will roll out these ATMs. Currently the Indian Post o having 2 ATMs located at Chennai and Delhi.

The Indian post wants to have established ATMs based on the core banking platform and enable the customer to perform the banking transactions at of the...

Posted 11:09:05 AM Complete Story | Post Comment | Read Comments(0)

Tuesday, August 26
New savings account to be opened by IDBI bank

Public sector bank –IDBI Bank has decided to open up more than 2 lakh savings accounts. The govt. has aim to provide the savings account to all the individuals across the country, through this measure the IDBI bank is supporting the plan of the govt.

Under the scheme Pradhan Mantri Jan Dhan Yojana the bank will creating these accounts. Along with the opening of the account the bank will also be offering passbook and...

Posted 11:39:56 AM Complete Story | Post Comment | Read Comments(0)

Monday, August 25
ICICI bank working on increasing banking services

The second largest leading bank of the country – ICICI bank is putting up its best efforts to bring more accounts and make banking reachable in all the parts of the society. As the part of the financial inclusion plan, bank has added ample number of branches, introduced tab banking facility.

The bank is aiming to have 20 million zero basic saving accounts by the end of this year. There are already 18.5 million such accounts...

Posted 08:09:57 AM Complete Story | Post Comment | Read Comments(0)

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