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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Thursday, April 24
RBI concerned over the counterfeit currency

It has been reported that Reserve bank of India is quite concerned regarding the fake currencies. RBI has warned the vendors that it would have to go in for higher indigenization, if they will not follow KYC norms. It has been also reported that the currency papers and security ink produced by the international suppliers are falling in wrong hands that is leading to the increase in production of fake currencies.

With the help of...

Posted 11:08:24 AM Complete Story | Post Comment | Read Comments(0)

Wednesday, April 23
HDFC bank reported the slowest growth in net profit over last 10 years

Third largest lender of the country HDFC bank has reported the slowest growth in the net profit. In the past 10 years bank has made the slowest growth of 23%. Bank has made a net profit of Rs 2,327 crore for the quarter ended March 2014 compared to Rs 1,890 crore in the corresponding quarter last year. The bank's total income grew nearly 15% to Rs 12,790 crore from Rs 11,128 crore a year.


Posted 11:00:36 AM Complete Story | Post Comment | Read Comments(0)

Tuesday, April 22
Online life cover plan rolled out by Reliance Life Insurance

One of the finest insurance company Reliance Life insurance has rolled out an online life cover plan at an affordable premium. Last day reliance insurance launched this simple life protection plan.

It has been reported that this is an appropriate plan that the customers can buy simply without any problem. With the help of this product the company wanted to offer cheap and best life cover plan to its customers. This plan offers Rs...

Posted 10:43:54 AM Complete Story | Post Comment | Read Comments(0)

Wednesday, April 9
Vijaya bank revised its rates

After the monetary policy review Vijaya bank is the first one to raise its lending rates. The bank has increased the rates by 0.50%, earlier the rates were 10.20% now the new rates are 10.25%. Although RBI has maintained the same rates.

The other leading banks like ICICI, SBI have a base rate of 10%. RBI limited bank access to the cheaper funding through repo to 0.25% of their deposits from 0.5% earlier. Banks...

Posted 10:55:21 AM Complete Story | Post Comment | Read Comments(0)

Tuesday, April 8
BMB bank launching new 57 branches

Women oriented bank of the country – Bhartiya mahila bank is coming up with new branches every week. The bank has launched 23 new branches within four months across the country, including Delhi, Chennai, Mumbai and bengaluru. The bank is wide spreading its branches all over the country.

Bank has announced the bank will be launching 57 more new branches in order to make a total of 80 branches by the end of March next year....

Posted 08:47:14 AM Complete Story | Post Comment | Read Comments(1)

Monday, April 7
Federal rolling out representative office overseas

In order to expand its network overseas federal Bank is launching its new branch in Dubai. Managing director of the bank reported that they have asked the Apex bank to allow them to have a representative office of the bank in Dubai.

Bank is already having one in United Arab Emirates and is waiting for the RBI’s nod to establish this representative office over there. At present the bank is having 1,142 branches spread...

Posted 10:34:26 AM Complete Story | Post Comment | Read Comments(0)

Monday, April 7
SBI Rolled out twitter linked account

One of the leading banks of the country, State bank of India is second one to launch a twitter linked account. Few days back Kotak Mahindra Bank launched its twitter linked account, after kotak Mahindra SBI has lately rolle

It has been reported that bank is having a huge network across the country, targeting its customers there will be 24X7 tweets on the products and services of the bank. Further there will be also help...

Posted 10:29:12 AM Complete Story | Post Comment | Read Comments(0)

Friday, April 4
Growth in deposits and credits of the banks

RBI reports have shown that till March 21, 2014 a growth in deposits and credit of the banks has been noticed. The deposits growth is higher in comparison to the credit growth. Deposit growth has increased by 14.64 per cent year-on-year to Rs 77,39,387 crore. Whereas Bank credit grew at 14.31 per cent year-on-year to Rs 60,13,085 crore as Rs 52,60,459 crore in the same period last year.

For the current year the...

Posted 11:14:47 AM Complete Story | Post Comment | Read Comments(0)

Thursday, April 3
Karnataka Bank planning to expand its network

It has been reported that a private sector bank – Karnataka Bank is launching 75 new branches. The bank wants to enhance and expand its customer’s base therefore bank will be launching technology based products. The bank will also roll out 300 new ATMs as well that will make the total number of ATMs of the bank 1,675 by the end of March 2015.

Till the end of the last month, the bank...

Posted 11:13:49 AM Complete Story | Post Comment | Read Comments(0)

Wednesday, April 2
Banks not to charge penalty from customers on savings account: RBI

It has been reported that recently the apex bank of the country has ordered the bank to do away with the practice of imposing fines on customers who do not maintain a minimum balance in their savings accounts. RBI has asked the banks instead of charging on savings account they should limit the services.

Further RBI has also asked not to charge on the dormant accounts. CEO and MD of the HDFC bank stated that if...

Posted 10:19:08 AM Complete Story | Post Comment | Read Comments(0)

Wednesday, April 2
Vacancies for security guards in reserve bank of India

Apex bank of the country RBI has invited the applications for the recruitment of security guards. The last for the application is 30th April, 2014. The applications are for the people of Jharkand and Bihar.

Total of 11 posts are available. Interested candidates in the age limit of 18 to 25 years can apply for the post. To apply candidate must be X th pass or maximum an undergraduate. On the basis of performance in...

Posted 10:07:39 AM Complete Story | Post Comment | Read Comments(0)

Tuesday, April 1
SBT banks to provide more support to retail sector

It has been reported that state bank of Travancore is planning to assist with more services to the retail sector. The enhancement of the retail sector will help the bank to enhance the business and increase the profit. MD of the bank stated that bank will open special branches that will separately focus on the state to achieve the aim. Bank will be focusing towards the home loan, education loan, and retail sector.


Posted 11:20:48 AM Complete Story | Post Comment | Read Comments(0)

Tuesday, April 1
J&K bank to set up branches outside the country

Jammu & Kashmir bank is planning to extend its network abroad. The bank will be setting up its branches in Dubai and London. Officials of the bank stated that though the decision it not yet final but most probably the bank will be establishing branches in these two areas since bank is having a number of business relationships in these countries.

Currently bank is not having any branch outside the country. Bank is having...

Posted 11:18:52 AM Complete Story | Post Comment | Read Comments(0)

Monday, March 31
ICICI prudential awarded with the India’s best fund House Award

It has been reported that ICICI Prudential Mutual fund has won the award for the best fund house. ICICI Prudential has been awarded with Morningstar India’s best fund house award in the debt, equity and multi-asset category. ICICI prudential is having a wide network spread across the country. This is the first time ever that a fund has grabbed all the top awards.

This morning star award tells that which fund house has...

Posted 10:58:38 AM Complete Story | Post Comment | Read Comments(0)

Friday, March 28
BOI not working for two days

Some sources have informed that Bank of India has decided to go on strike for two days from today onwards. All the branches of Bank of India will not be working for 48 hours. It has reported that the bank staff and union could not resolve the issues relating to recruitment, proper infrastructure, health check-up of employees, reimbursement of petrol expenses of workmen , therefore the bank decide to halt up the work.

All India Banks...

Posted 11:27:51 AM Complete Story | Post Comment | Read Comments(0)

Friday, March 28
Social networked account launched by kotak Mahindra Bank

Recently Private sector bank – Kotak Mahindra rolled its social networked account named ’jifi’ in association with twitter and facebook. In order to attract more number of young generation and technology based customer, Kotak Mahindra bank came up with this account.

It has been reported the kotak JIFI is a zero balance account that offers zero rate of interest , with an initial payment of Rs 5,000. Bank has also decided to work...

Posted 11:08:42 AM Complete Story | Post Comment | Read Comments(0)

Wednesday, March 26
CSC centre of Corporation bank in Mumbai

One of the finest banks of the banking sector, Corporation bank launched its common service centre in Dharavi, Mumbai. In order to support and assist the areas devoid of banking facilities the bank has planned to launch this service centre.

To provide this service the bank has tied up with the CSC e-Governance Service India . The centre will look after all the needs of the people specially those in unbanked urban areas. ...

Posted 11:13:55 AM Complete Story | Post Comment | Read Comments(0)

Tuesday, March 25
Card-less cash withdrawal at Bank of India

Bank of India is the first one to start the facility of card-less cash withdrawal. It has been reported that customers of Bank of India can now withdraw cash without opening account in bank. The main purpose of this facility is to help the migrant labourers.

Under the instant money transfer (IMT) the bank user can transfer money to someone else account by using the receiver’s number. The customer can withdraw a maximum...

Posted 11:05:50 AM Complete Story | Post Comment | Read Comments(0)

Tuesday, March 25
ICICI bank and Vodafone working together to provide M-pesa facility

Vodafone in association with ICICI bank is launching a new innovative facility for the customers. Bank and Vodafone have come up with a very convenient method of transferring money to their families back home. The facility named is M-Pesa, the facility is launched in Tamil Nadu and will soon reach northern parts of the country.

M-Pesa will allow the customers to withdraw and deposit money through the mobile phones. The authorised M-Pesa agents will...

Posted 11:01:54 AM Complete Story | Post Comment | Read Comments(0)

Monday, March 24
Federal bank planning to expand its banking network

While opening the 100th branch of the Federal bank in Ghaziabad, Chief Executive officer and MD Mr. Shrinivasan stated that bank is focusing for a growth up to 25% of banking network in northern part of the country.

He further stated that bank is working well in northern area specially Punjab and Delhi NCR, therefore the bank is planning to enhance its network in these two regions. Further to this bank will also be...

Posted 11:08:32 AM Complete Story | Post Comment | Read Comments(0)

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