RUPEETIMES.COM
An Insight into Personal Finance in India
Having a keen interest in Indian personal finance topics especially credit cards, education loans and having a special interest in promoting financial awareness among the people, Ankit Sharma blogs regularly at Rupeetimes.com. A graduate from Mumbai University, Ankit brings the never-say-die, Mumbaikar attitude to his work.
By Ankit Sharma

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Thursday, January 15
New intelligent ATMs to be introduced to prevent the ATM frauds

Recently it has been reported that due to the increase the ATM frauds a Chennai based company has planned to launch a new type of intelligent ATMs. These new ATMs will deliver non fatal electronic shocks to miscreants looking to steal money.

Further enhancing the security there is also the provision to shut down the shutter of the Kiosk automatically. In addition to the ATMs are also equipped with a panic button that they...

Posted 11:14:38 AM Complete Story | Post Comment | Read Comments(0)

Monday, January 12
Financial literacy camp by NABARD and UBI bank

Yesterday NABARD in association with the Union bank of India has organized financial literacy camp. With the aim to create the awareness and educate people the bank has organised the camp at Cachar.

The awareness campaign was attended by offices from UBI, Bhangarpar Branch, Panchayat members, small and marginal farmers, labourers, teachers of schools and colleges, traders, NGOs, SHGs, Farmers’ Clubs and others. During the camp the various issues related to the banking were...

Posted 11:07:06 AM Complete Story | Post Comment | Read Comments(0)

Friday, January 9
Phishing Attacks of online banking accounts increasing rapidly

A recent study by Assocham has reported that the frauds related to debit and credit cards have increased on a large scale in past three years. In the recent year 2,277 complaints of online banking frauds have been registered. It has been also stated that there has been an increase of six folds in the cyber crimes in the last three years with Credit and debit card frauds on the apex.

The rapidly increasing...

Posted 11:48:30 AM Complete Story | Post Comment | Read Comments(0)

Thursday, January 8
Contactless credit/debit card by ICICI bank

The largest private lending institution of the country – ICICI bank has rolled out a new credit and debit card for its customers. The interesting feature of the card is that, the card is the contactless card i.e. the payments can be made without swiping.

The card will enable the customers to make the payments effortlessly. The cards will provide secure and enhanced transactions saving the time. At present the ‘Coral Contactless Credit Card’...

Posted 11:20:55 AM Complete Story | Post Comment | Read Comments(0)

Wednesday, January 7
No banking strike today

Last it was reported that banks have planned to continue their strike, but now it is informed that banks have deferred to strike. There will be no banking strike for today. Banks have changed their plan to continue their strike.

The managements have proposed to hike the wage by 12.5%, earlier it was 11%. On the other hand the bank unions have also dropped down their demand from 23% to 19.5%. However the negotiations regarding...

Posted 11:29:30 AM Complete Story | Post Comment | Read Comments(0)

Tuesday, January 6
Banks to lower charges on credit and debit cards

The use of the plastic money is high on use these days. To promote the use of the plastic money (Transactions through credit/debit cards) the banks are seeking to lower the charges on debit and credit cards.

The reports have shown that there has been increase in the use of cashless transactions. The number of point-of-sale (POS) terminals has increased to 10.65 lakh across the country by end-March 2014 as compared to 3.2...

Posted 11:53:57 AM Complete Story | Post Comment | Read Comments(0)

Monday, January 5
New ATM launched by Corporation bank

With the aim to extend and provide its services across all the regions of the country, the Corporation Bank has launched a new ATM. On the occasion of the New Year the bank has launched a new ATM at the Mangalore International Airport Mangaluru.

The chairman and managing Director of the bank Mr. S.R Bansal inaugurated the ATM on 1st January 5, 2015. Along with Mr. Bansal the JT Radhakrishna, Director of...

Posted 11:03:04 AM Complete Story | Post Comment | Read Comments(0)

Wednesday, December 31
DCB bank tied up with Ikaaz to launch a new mobile payment service

Last week DCB bank announced to join hands with iKaaz, a mobile payment start-up company. Through the tie up the bank has plan to roll out a new innovative mobile payment Service in India. It is reported that with the launch of this service it is expected that country will move closer towards the cashless economy.

The partnership will also assist in simplifying payments. CEO of Ikaaz stated that they always work to...

Posted 11:24:23 AM Complete Story | Post Comment | Read Comments(0)

Tuesday, December 30
Banks to facilitate proper security measure at ATMs before 31st

The last date to enhance the security facilities at the ATMs has been extended. It is being reported that banks will be held responsible if by 31st December they fail to provide the ATM facilities.

A list of facilities has been provided to the banks that they need to avail at the ATMs before 31st December. It is mandatory for the banks to install CCTV cameras, alarm and security guard at the ATMs. Keeping in...

Posted 11:21:29 AM Complete Story | Post Comment | Read Comments(0)

Monday, December 29
SBBJ bank to open two new branches

One of the associate banks of the State Bank of India – State of Bikaner and Jaipur is planning to expand its network. The bank will add two new branches in West Bengal making a total of 17 branches.

The two new branches are planned to establish at Salt Lake on the Northern fringes; and at Rathtala on the Southern fringes of the city. The 15th branch of the bank was recently launched on...

Posted 11:32:53 AM Complete Story | Post Comment | Read Comments(0)

Tuesday, December 23
Axis bank extended its Edge loyalty rewards program to its customer

With the desire to extend its banking relationship with the customers the Axis bank has decided to extend its Edge loyalty rewards program to its current account & travel cards holders. All the savings accounts customers of the bank can enjoy this reward program, they can earn the loyalty reward points by maintaining a balance of Rs 25,000 and above.

This reward program was launched last year but now it has been enhanced...

Posted 11:31:28 AM Complete Story | Post Comment | Read Comments(0)

Monday, December 22
65th Foundation day of United bank of India

Lately United Bank of India celebrated its foundation day. The bank has completed its 65years of its banking service. Remembering the founding members of the bank, the bank has celebrated its 65th Foundation day of the bank.

State owned bank organized the day by organizing special banking campaign. Through the campaign the bank will sanction the housing and mortgage loans to the customers.

...
Posted 11:54:21 AM Complete Story | Post Comment | Read Comments(0)

Friday, December 19
PMJDY event organized by Viajaya Bank at Pollachi

Promoting the Pradhan Mantri Jan Dhan Yojana launched by Prime Minister this Independence Day, Vijaya Bank organized an event at Pollachi. At this PMJDY event the executive director of the bank Mr. shenoy distributed the Rupay debit cards and passbooks to customers opening account under the scheme.

It was noticed that nearly 200 beneficiaries attended the program and along with it a lot many people from the surrounding areas also attended the event. The event...

Posted 11:37:32 AM Complete Story | Post Comment | Read Comments(0)

Thursday, December 18
IDBI bank to double up the number of banking branches

Private sector bank – IDBI bank is planning to roll out credit card soon. The bank will launch its credit card in association with the Visa, followed by MasterCard. Till now the bank was more focused on the Retail portfolio rather than the credit card business. Bank also reported that IDBI Bank has the lowest share of CASA among public sector banks.

Now bank has planned to initiate with the credit card....

Posted 11:50:02 AM Complete Story | Post Comment | Read Comments(0)

Wednesday, December 17
Free fly to Singapore a new scheme by Axis bank

Axis bank in association with the Singapore’s no-frill airline Tigerair, has announced a special offer for its credit and debit card user. The bank has announced that ‘Fly out to Singapore for free on round trip’ for customer who will book their tickets from December 17, 2014 till 4th January 2015.

The bank has stated that for the customers who have plans to fly Singapore will only have to pay for their return ticket,...

Posted 11:31:06 AM Complete Story | Post Comment | Read Comments(0)

Monday, December 15
ICICI bank introduced new Coral American express credit card

Largest lending institute of the country – ICICI bank has rolled out a new credit card for its customer. In order to provide the facility of carrying forward the retail purchase balances in first two billing statements to the third statement the bank has introduced Coral American express credit card. The card will be offering a very useful facility to the customers of the extended credit.

The customers will be able to carry...

Posted 11:36:15 AM Complete Story | Post Comment | Read Comments(1)

Friday, December 12
Drop down in the ATM transactions

According to the reports it has been noticed that ATM transactions in the previous month has dropped down. The transactions have went down by 9% from 26.8 crore in October 2014 to 24.4 crore in November.

Few months back the RBI has announced to restrict the free ATM transactions. The reports showed that along with higher withdrawals during October-end on account of Diwali, has resulted in lower ATM transactions during November. Axis Bank has 14...

Posted 11:45:13 AM Complete Story | Post Comment | Read Comments(0)

Tuesday, December 9
ICICI bank limited free ATM transactions to 5 a month

ICICI bank customers will now be charged after 5 free transactions from the ATM. ICICI bank announced that bank will now limit the free transactions up to 5 a month. After five transactions the bank will charge a fee of Rs 20.

This will be applicable from the coming year January 1, 2015. The free transactions at the bank’s own ATM will 3(in metros) and 5 in non metro Cities. As per...

Posted 11:38:30 AM Complete Story | Post Comment | Read Comments(0)

Tuesday, December 9
Banks will now alert you before clearing heavy amount cheques

With the intent to control the frauds associated with Cheques the Apex bank has asked the banks to alert the customers through the SMS before clearing the cheque. Before clearing a cheque of heavy amount (Rs 10 lakh or above) the bank will send an alert to the customer through a phone call or SMS and will confirm regarding the clearing of the cheque.

In case of the non home branch ban will...

Posted 11:17:22 AM Complete Story | Post Comment | Read Comments(0)

Friday, December 5
Vidya Suraksha- insurance scheme for students by federal Bank

Private sector lending Institute – Federal Bank has joined hands with kotak Life Insurance. In association with the Kotak Life insurance the bank will launch an insurance scheme for the students.

The scheme named Vidya Suraksha is specially designed for the students. This new scheme will offer life cover to the students who have taken student loan. In addition to this, the scheme is very useful for the students with the facility...

Posted 11:08:36 AM Complete Story | Post Comment | Read Comments(0)

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