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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Monday, February 2
Central Bank of India launched a new branch

Recently Central Bank of India has inaugurated a new branch at Puthiyamputhur. Mr. M. Ravikumar along with the S. Asaithambi, Regional Manager inaugurated the new branch today (2nd February,2015).

While inaugurating the branch Mr. M. Ravi Kumar stated that bank will extend its help to the rural sections of the country. Bank will offer more efficient loan facilities to the weaker section in order to assist them in their livelihood. Cattle loan, subsidiary...

Posted 11:46:39 AM Complete Story | Post Comment | Read Comments(0)

Monday, February 2
RBI can cut down the rates by 0.25% this week

It is expected that the apex bank of the country – RBI may further reduce down the rate by 0.25% in the monetary policy this week. Last month RBI had unexpectedly cut down the rates surprising everyone.

This time the industry is hopeful that a further reduction in policy rates. While lowering the policy repo rate to 7.75 per cent from 8 per cent, RBI last month had also said further rate cuts would depend...

Posted 11:44:02 AM Complete Story | Post Comment | Read Comments(0)

Friday, January 30
mRupee Along with RBL bank to launch a Visa Powered Open loop prepaid card

It has been reported that mRupee has joined hands with RBL bank. In association with the bank they will be launching a new Visa powered Open Loop prepaid card. This card will make the payments easier.

Through this card the customer will get the facility to make the payments easily without bank account, the customer can easily make the payments (withdraw money) rom Visa supported ATMs as well as pay for goods and services...

Posted 12:22:29 PM Complete Story | Post Comment | Read Comments(0)

Thursday, January 29
Andhra Bank’s new silent protest for repayment of loan

Recently the Andhra Bank has come up with new idea for loan recovery. The employees of the bank have planned to silently protest for the repayment of the loans. By wearing black bands and holding placards displaying “We want repayment of loans” the employees protested and asked for the repayment of loan of up to Rs 37.13 Crore.

This is a new innovative method of bank of silent protest against defaulting borrower companies...

Posted 11:57:15 AM Complete Story | Post Comment | Read Comments(0)

Thursday, January 29
DBS bank introduced Tab banking

Singapore Based bank – DBS bank has introduced Tab banking facility. With the desire to make the banking easier and faster the bank has introduced the facility. While focusing more on the MSME segment the bank has launched the facility to easy the account opening process.

The facility is named as –‘AweSME Account’. This facility will reduce the account opening time for 2-3 days to four hours. In addition to this bank has waived...

Posted 11:52:27 AM Complete Story | Post Comment | Read Comments(0)

Wednesday, January 28
Yes Bank inked pact with Overseas Private Investment Corporation

Young Generation Bank – Yes Bank has decided to focus more on MSME sector . With the desire to enhance the financial assistance to the MSME sector the bank has joined hands with the Overseas Private Investment Corporation (OPIC) - a development financial institution of the United State.

Wells Fargo Bank will act as sponsor and co-lender to the project. Through this MOU the bank will focus on increasing lending to MSME sector. InDelhi...

Posted 12:40:09 PM Complete Story | Post Comment | Read Comments(0)

Tuesday, January 27
Vijaya Bank plans to widen up its banking network

Public sector bank- Vijaya Bank is primarily focusing on increasing its banking platform. The bank is having a huge network of 50 lakh savings bank account with 3 lakh internet banking customers. The CEO of the bank reported that bank has plans to add 17 lakh customers on board the technology platform over the next six months.

The bank wants to widen up its platform. Bank has plans to enhance coverage of debit cards from present...

Posted 09:14:21 AM Complete Story | Post Comment | Read Comments(0)

Friday, January 23
NABARD signed MOU with TATA trusts

National Bank for Agriculture and Rural Development (Nabard) has signed a MOU with two Tata trusts. The bank has entered in to partnership with NABARD in order to enhance the socio economic upliftment of resource poor regions and communities.

The MoU was signed by SDTT Executive Trustee R Venkataramanan and Nabard Chief General Manager P Radhakrishnan. It was also reported this partnership will help to acquire corporate empathy for development and improve ground...

Posted 11:54:45 AM Complete Story | Post Comment | Read Comments(1)

Thursday, January 22
Credit growth of Indian banks overseas increased

It has been reported that Indian banks have increased their business abroad. The credit growth of the banks has increased by 31.2 per cent to Rs 7.68 lakh crore ($ 127.9 billion) in 2013-14. Deposits of overseas branches of domestic banks rose by 30.8 per cent to Rs 5.14 lakh crore.

Income of overseas branches of domestic banks rose by 7.7 per cent to Rs 39,370, crore. For foreign banks operating in India, the fee...

Posted 11:56:24 AM Complete Story | Post Comment | Read Comments(1)

Wednesday, January 21
Kotak Mahindra Bank reported an increase of 21% in its net profit

Leading private sector bank – Kotak Mahindra bank has reported an increase of 21.20% in its profit. By the third quarter end of the December the net profit of the bank stood at Rs 716.61 crore.

Last year the bank reported the profit of Rs 591.25 crore, and now it has went up to Rs 716.61 crore. Net interest income for the third quarter of the bank has increased by16.10% to Rs 1,060...

Posted 11:35:56 AM Complete Story | Post Comment | Read Comments(0)

Tuesday, January 20
Special account scheme – “ Sukanya Samurddhi Account” for girls

It has been reported that Prime Minister Mr. Modi has plans to launch “Beti Bachao Beti Padho” on 22nd January, along with this Mr. Modi will be launching a special savings facility for the girls named ” Sukanya Samruddhi Account”. With the desire to empower the financial independence among the girls this initiative has been introduced.

This would be a small savings scheme that will offer higher rate of interest to the girls. It is...

Posted 11:41:55 AM Complete Story | Post Comment | Read Comments(1)

Tuesday, January 20
Banks deferred to go on the 4 days strike this month

Continuing the protest for the wage revision, the bankers were prepared for another 4 days strike this month. The bank has planned for the strike from 21st January 2015, but since Indian bank association has assured that the wage revision issue will be resolved by early February, the banks have deferred to go on strike.

The strike has put on hold for now. Earlier the bankers had announced that will strike for 4 days against...

Posted 11:37:47 AM Complete Story | Post Comment | Read Comments(0)

Tuesday, January 20
Kotak Mahindra first to introduce banking through Social networking

Last Day the Kotak Mahindra Bank unveiled its new Jifi Saver account. The bank has finally launched the account that will be managed through Social networking site Twitter and facebook. Through this Facility bank will offer the customers to basic banking services like inquiry for balance, last few transactions, chequebook demand among a total 21 services under the name "Hashtag Banking”(#Banking). This account is almost similar to a basic savings account satisfying...

Posted 11:36:06 AM Complete Story | Post Comment | Read Comments(0)

Monday, January 19
HDFC,SBI, ICICI bank among the top 60 global banks

According to the recent reports HDFC bank and State Bank of India two top leading banks of the country are among the top 50 global banks list in terms of market capitalization.

HDFC bank which is the second largest private lender of the company has been ranked 45th in the list. Beyond 50 we have ICICI bank at the 53rd position. If we consider a year back report we have no Indian banks in...

Posted 11:31:20 AM Complete Story | Post Comment | Read Comments(0)

Monday, January 19
Axis Bank reported a profit of 18%

The leading private sector bank - Axis bank has reported a profit of 18%. At the end of December 2014, the profit of the bank stood at Rs1,900 crore. The bank states that stable loan growth, healthy treasury income are the major factors that contributed towards the profit of the bank.

Net interest income increased by 20 per cent, while non-interest income grew by 24 per cent. The total advances for the quarter grew...

Posted 11:26:47 AM Complete Story | Post Comment | Read Comments(0)

Friday, January 16
Union bank and United bank of India reduced their rates by 0.25%

After the reduction of repo rate by the RBI, United bank of India and Union Bank of India has also dropped their rates. The United bank of India has reduced the rate by 0.25%, the new rate of the bank is 10%, the new rate of the bank will effective from next i.e. 1st February,2015.

Following the same Union bank of India has also reduced its rate by 0.25%making the new rate 10%....

Posted 11:36:59 AM Complete Story | Post Comment | Read Comments(0)

Friday, January 16
BMB inaugurated its 40th Branch

Bhartiya mahila bank inaugurated its 40 branch this week. The bank is gradually developing and expanding its network all over the country. In the past 1 year the bank has established successful 39 branches.

The branch was inaugurated by Thulasi Maddineni, CEO, Dakshina Kannada zilla panchayat. The bank has plans to reach out the rural areas as well. The bank has plans to set up 20 new branches in rural areas soon. The bank...

Posted 11:35:00 AM Complete Story | Post Comment | Read Comments(0)

Thursday, January 15
Online account facility for NRI customers: ICICI bank

ICICI bank is one of the leading banks with a huge NRI network spread across. With aim to enhance its NRI network the bank has launched an online account opening facility for the NRI customers. The bank has introduced the complete online opening A/c opening facility for the customers in US.

The bank stated that through this facility the customers can easily open their account with the bank, eliminating the need of sending...

Posted 11:25:41 AM Complete Story | Post Comment | Read Comments(0)

Thursday, January 15
Syndicate Bank launched special scheme for women entrepreneurs

Public sector bank – Syndicate bank has unveiled a new scheme especially women. The bank has introduced special scheme for the women entrepreneurs. The executive director of the bank Mr. T K Srivastava stated that with the aim to encourage and assist the women entrepreneurs the bank has launched this new scheme.

The scheme named ’Synd Mahila Shakti Scheme’ will offer the women entrepreneurs with the loan up to Rs 5 crore at...

Posted 11:21:48 AM Complete Story | Post Comment | Read Comments(0)

Wednesday, January 14
Kotak Mahindra bank launched Jifi saver social savings account

Last year Kotak Mahindra Bank launched a new savings account facility that can be managed via social network sites. The account named ‘ Jifi ‘ current account can be managed via Facebook and twitter. Now the bank has launched 'jifi Saver’ a social savings account.

For the jifi Saver account the bank will offer an interest rate of 6% p.a on deposits of Rs 1 lakh and above and 5% on deposits of Rs...

Posted 11:40:24 AM Complete Story | Post Comment | Read Comments(0)

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