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Retail Loans in India: Facts and Reviews
Though, relatively new to blogging, Neelima was quick to find out the powers of the online medium to spread her expertise on retail loans in India. A graduate in journalism, Neelima keeps track of the latest developments in retail loans in India on her blog on rupeetimes.com.
By Neelima Shankar

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Friday, January 24
Bajaj finance planning to offer fixed deposit schemes

It has been reported that Bajaj Finance a non- banking institution is planning to adopt wealth management services. The company will now provide fixed deposit schemes to the customers rather than working as a distributor for other firms.

Bajaj Finance is aiming to come up with a fixed deposit scheme in coming 3 years that will provide maturities varying from 1 year to 5 year further the scheme will offer 10% rate of interest. Special...

Posted 11:15:06 AM Complete Story | Post Comment | Read Comments(0)

Thursday, January 23
Pride moment for IDBI bank

Recently new generation PSU bank IDBI bank achieved Golden Peacock CSR award for the year 2013. On 17th January 2014, at a ceremony held in Bengaluru Shri M.S. Raghavan, CMD, IDBI Bank along with Shri B.K. Batra, DMD, were awarded with this prize. Honorable governor of Kerala Shri Nikhil Kumar handed over the award to IDBI bank as a winner in PSU banks category.

A scholarly jury declared IDBI bank as the...

Posted 10:59:34 AM Complete Story | Post Comment | Read Comments(0)

Thursday, January 23
Health campaign by South Indian Bank and Bajaj Allianz Insurance Company

Recently in Kerala South Indian Bank and Bajaj Allianz organised a Yatra – ‘AROGYA YATRA’ to aware people on better health. The yatra was conducted all over the state spreading the message of better health.

Dr VA Joseph MD and CEO of the bank along with MR. Hiren Vora CDO of the Bajaj Allianz General Insurance company initiated the Yatra. In the yatra a mobile van was there with a panel of doctors...

Posted 10:54:41 AM Complete Story | Post Comment | Read Comments(0)

Wednesday, January 22
Unclaimed deposits in Banks to be utilized: RBI

The apex bank of the country Reserve Bank of India reported that the bank is planning to utilize unclaimed deposits in Banks for depositor’s awareness. It has been reported that the banks are having approximately a sum of Rs 3,500 crore as unclaimed deposits.

The deposits that are not claimed from the past 10 year will be used in creating awareness among depositors. There will be provisions to reclaim the money. A panel of maximum...

Posted 11:07:23 AM Complete Story | Post Comment | Read Comments(0)

Tuesday, January 21
Asset tracking centre launched by SBT

State Bank of Travancore initiated an asset tracking centre. The centre is established to assist the customers in making payments within the specified time. The fully fledged centre was launched by managing director of the bank. The bank has initiated the centre basically to improve the asset quality and it will also help them to look after the accounts properly.

Highlighting the working and features of the centre a spokesperson reported that the centre...

Posted 10:57:55 AM Complete Story | Post Comment | Read Comments(0)

Friday, January 17
Installation of cameras in ATMs enhanced security

For the security reasons banks were planning to install cameras in ATMs. The MD and CEO of a bank reported that the already 75% of 921- strong network ATMs are installed with cameras, which will keep an eye all around the day from the centralized area in kochi.

The person controlling the main centre will inform the police station that will be nearest to the place of affected ATM centre. The installing of camera...

Posted 10:47:00 AM Complete Story | Post Comment | Read Comments(0)

Thursday, January 16
Allahabad bank may take over rupee coop bank

According to a report one of the leading banks of the private sector Allahabad Bank has shown interest in acquiring rupee coop bank. The Kolkata based bank wants to expand its network by taking over the urban coop bank.

Bank wants to scale up its network in pune, at present the bank is having six branches there. Since last year rupee bank is having poor financial status and the bad loans of the...

Posted 11:08:27 AM Complete Story | Post Comment | Read Comments(0)

Thursday, January 16
Spurt in hiring in banking sector

Good news is lined for people seeking jobs in banking sector. Issuing of banking license to various new players will increase the number of hiring in the banking sector. It has been reported that the expanding of banking network by establishing new branches and issuing of new licenses, may come up with hiring of new employees in bulk.

General Manager of a team lease services reported that in the beginning of previous year the hiring...

Posted 11:03:45 AM Complete Story | Post Comment | Read Comments(0)

Wednesday, January 15
New Insurance product rolled out by TATA AIG

One of the top insurance company TATA AIG life insurance initiated a new product Money Maxima. The new product is in accordance with the new guidelines issued by the IRDA this month.

Briefing the benefits of the plan Deputy CEO and CDO of the TATA AIG said that the product will offer dual advantage to its customer. The plan will provide both guaranteed and non-guaranteed returns. The plan is very beneficial for the customers,...

Posted 10:51:04 AM Complete Story | Post Comment | Read Comments(0)

Tuesday, January 14
New super income plan unveiled by HDFC life

HDFC Life Insurance Company decided to come up with a new super income plan. The company propelled the scheme today. It is a customized product that will offer savings as well as protection to the customers.

The Plan will help customers to solve their various purposes like planning for their children’s education or retirement planning not only this but will also assist them to save for their better future.

HDFC life vice president reported that...

Posted 10:58:19 AM Complete Story | Post Comment | Read Comments(0)

Tuesday, January 14
EPFO raised the interest by 0.25%

After the meeting held yesterday EPFO has come up with the final decision to raise the interest rate by 0.25%. Now the EPFO will provide with an interest rate of 8.75% to its 5 crore members on PF deposits.

It has been reported that the organization is having enough of funds that made it possible for them to raise the interest rate. EPFO is waiting for the finance ministry’s nod, once finance ministry approves the...

Posted 10:48:09 AM Complete Story | Post Comment | Read Comments(0)

Monday, January 13
New policy plan to be rolled out by LIC

LIC on its way to re- cast its ‘Jeevan Anand ‘product. LIC has decided to provide with more beneficial combinations of protection and savings to its customers through this plan.

With the product customers can enjoy the facility of lifetime financial safety along with it also provides benefit of lifetime cover even after the maturity amount payment. The customer can avail the policy with in the age 18 – 50 years. The policyholder has...

Posted 10:37:29 AM Complete Story | Post Comment | Read Comments(0)

Friday, January 10
Deposit growth ahead of credit growth by 1.33%

Due to the glooming economy of the country, the credit growth of banks was slow. The apex bank reported that according to the recent data the credit has raised by 14.53% year-on- year.

Hither to it was noticed that deposit growth is leading credit growth. Deposits have grown up by 15.86% , deposit growth is approximately 1.33% ahead of the credit growth. According to 27 December record, growth of 0.96 % was noticed in...

Posted 10:51:42 AM Complete Story | Post Comment | Read Comments(0)

Thursday, January 9
Navavarsha- New deposit scheme by SBT

State bank of Travancore has rolled out a new deposit scheme for its customers. The new scheme ‘Navavarsha’ will provide its customers with an interest rate of 9.10 for tenure of 1 to 2 years. Except for the NRE rupee deposit the rate is applicable for all the segments under domestic term and NRO term deposits.

Further the scheme will offer its senior citizens with an extra interest rate of 0.30% for the deposits...

Posted 10:49:54 AM Complete Story | Post Comment | Read Comments(0)

Wednesday, January 8
Banks will restrict the number of free ATM transactions soon

It has been reported that Indian bank association is planning to allow only 5 free transactions to a customer. Only first 5 transactions will be free of cost whether the transaction is made from the own bank ATM or other. The measure is take

Currently banks do not charge the customer for making transaction from the own bank. The transaction fee will be raised from Rs 15 to Rs 18. However RBI has asked...

Posted 10:48:47 AM Complete Story | Post Comment | Read Comments(0)

Wednesday, January 8
Seven new Insurance plans rolled out by Shriram life insurance

Shriram Life Insurance Company recently planned to bring up 7 new insurance products in the market. It has been reported by the CEO of the company that 4 out of the 7 products are market associated and the rest one are traditional. He further reported that the new products are completely in accordance with the new rules issued by Insurance regulatory and development authority.

The products are made to provide more benefits to customer...

Posted 10:46:47 AM Complete Story | Post Comment | Read Comments(0)

Wednesday, January 8
Bhartiya Mahila Bank will help CA students.

India’s first women oriented bank in order to help CA students, signed an agreement with Institute of Chartered Accountants of India. The bank has decided to aid the CA students by financing them.

Bank reported that they have also signed a memorandum with ICAI to finance the representative of ICAI, those who are doing CA internship and planning further planning to set up the office. Since the bank is women oriented the banks wants...

Posted 10:42:39 AM Complete Story | Post Comment | Read Comments(0)

Tuesday, January 7
Plethora of Choices by SyndMobile service

Syndicate Bank, in an effort, to make banking much easier and convenient, brings Mobile Banking services for its customers. The service of mobile banking makes it easier to enquire about balance, get mini statement of account, inter as well as intra-bank transfer of funds, and acquiring of cheque book on request. Interestingly, SyndMobile, the mobile banking service, can be used over almost any type of mobile phone.

Syndicate Bank has become one of those...

Posted 10:21:20 AM Complete Story | Post Comment | Read Comments(0)

Tuesday, January 7
KVB and Bajaj Allianz Cojoin for Rolling Out a Health Card

Karur Vysya Bank and Bajaj Allianz General Insurance have tied up with one another to launch a health card that will be stamped by both the brands. This card was formally launched on Friday, where K. Venkataraman, Chief Executive of Karur Vysya Bank, received the debut card as launching initiative.

Within the span of three months, the bank aims at covering the figure of 25,000 health cards for issuance. One of the senior...

Posted 10:05:49 AM Complete Story | Post Comment | Read Comments(0)

Monday, January 6
Fedbook- first electronic pass book initiated by Federal bank

Federal bank rolled out a new innovative electronic pass book for its customers. Federal Bank is the first one to initiate the electronic pass book.

Fedbook is portable passbook that the customers can access through their mobile phones and tablets, they can easily view all the account transactions through it . This new innovation is user friendly and with help of this customers can access transactions any time even on bank holidays. With the...

Posted 10:46:26 AM Complete Story | Post Comment | Read Comments(0)

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