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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 rupeetimes.com.
By Vaibhav Aggarwal

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Thursday, September 25
Smart Star new savings account for minors above 10 yrs: ICICI bank

With the purpose to develop the savings habits in the children banks are coming with several schemes for the children. Following the trend, ICICI bank has launched a new account for minors above 10 yrs of age.

The bank introduced this scheme named – Smart Star. Highlighting the features of the account bank stated that, children can open this account on their own name and will also be provided with a personalized cheque...

Posted 11:32:47 AM Complete Story | Post Comment | Read Comments(0)

Wednesday, September 24
Easy to open account under PMJDY

Lately the Prime minister of our country, Mr Modi stated that there is nothing to worry about if the people do not have any valid identity proof, they can still open their savings account under this scheme. To open account the person will simply require two copies of signed photographs.

This account will be declared as a small account and will be valid for the period of 1 year; with in that period of...

Posted 11:19:50 AM Complete Story | Post Comment | Read Comments(0)

Tuesday, September 23
Andhra Bank expanding its banking network

A medium sized public sector bank – Andhra bank has decided to put up 450 new branches across the country by the end of this fiscal year. Recently bank has also inaugurated its 2000th new ATM in the Punjagutta. For the ease of the customers bank has also introduced customer service kiosk which will help the customer to open account and do the banking transaction easily.

In addition to this bank is also...

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

Tuesday, September 23
Canara Bank inaugurated 45th Circle office in telanagana

In Telangana Canara Bank launched 45th Circle office of the bank at the Warangal. Chairman and managing director of the Bank Mr. RK Dubey along with the executive director VS Krishna kumar inaugurated the new office.

The bank is in the plan to increase the number of branches in telangana up to 100. With 5,330 branches all over the country the bank is serving its customers. At present in the telanagana bank is...

Posted 11:15:53 AM Complete Story | Post Comment | Read Comments(0)

Monday, September 22
New Version of Fedbook – Federal Bank

Last week Federal Bank has introduced a new version of its passbook – ‘Fedbook’. Fedbook is the electronic passbook. This new passbook will assist the customers in keeping their records hassle free.

Without much effort customers can easily keep the track of their account, loan and cheque book. This new version will provide all the details regarding current balance, interest rate, loan period, installment amount, due date of remittance on the cell phones...

Posted 11:42:02 AM Complete Story | Post Comment | Read Comments(0)

Friday, September 19
51 new branches of canara bank launched in West Bengal

Recently in West Bengal Chief Minister Mamta Banerjee launched 51 new branches of the Canara Bank. She stated that with aim of covering all the gram panchayats with a bank the govt. has launched these new branches.

This is the part of the financial inclusion plan to enhance the financial and banking services in the rural areas. The 51 new branches were established at the areas where there are no banks. These branches...

Posted 11:37:18 AM Complete Story | Post Comment | Read Comments(0)

Friday, September 19
One Time Settlement Scheme by SBH bank

SBH bank has introduced a new scheme for the borrowers whose accounts have become NPAs due to payment failures. State bank of Hyderabad stated that borrowers who fail to repay the interest, installment or both can now easily make their account operative with the SBH new ‘ One time Settlement Scheme’.

The customers can avail this scheme till the month of September. To avail the scheme the borrower need to contact the respective branch....

Posted 11:35:45 AM Complete Story | Post Comment | Read Comments(0)

Thursday, September 18
SBT bank launched a campaign for Demat account

Yesterday one of the associate banks of SBI – State Bank of Travancore launched a Demat campaign for its customers. Bank organized this exclusive drive to help the customers for starting up the 3 in 1 online Demat account.

With the help of the Demat facility the customers will be able to convert their physical share in the electronic form. One of the official reported that the campaign was carried out yesterday...

Posted 11:42:00 AM Complete Story | Post Comment | Read Comments(0)

Thursday, September 18
Religare Securities and South Indian Bank decided to work together.

To provide the facility of trading account to the customers, South Indian Bank has entered into partnership with Religare Securities Ltd. Through this Bank will be offering 3 in 1 account to the customers. With one account they will get the facilities of savings, demat and trading account.

South Indian bank customers will be provided with the entire gamut of the Religare products. This will an additional offer that will be provided to...

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

Wednesday, September 17
Interest rates offered by banks on savings account

New generation bank IndusInd Bank has slashed down its interest rates by 1%. On the avings account bank has reduced the rate from 5.5% to 4.5% per annum.

For the daily balance upto rs 1 lakh the interest rate is 4% and for the balance more than Rs 1 lakh the interest is remains same at 6%. Bank has also stated that the rates are applicable from 1st September 2014. Bank has further option to channge...

Posted 10:42:52 AM Complete Story | Post Comment | Read Comments(0)

Wednesday, September 17
Banks asked RBI to cut down rates

It has been reported that the banks have asked the the apex bank to reduce the repo rate - the rate at which apex bank lends money to other banks. Banks are facing slowdown in the credit growth therefore they want RBI to cut down the rate.

Growth in the loans have fall down to 11% from 16.8% and the deposit growth has stood at 13.6%.Last day the RBI has organised a meeting to dicuss...

Posted 10:33:22 AM Complete Story | Post Comment | Read Comments(0)

Tuesday, September 16
Federal Bank introduced new savings scheme for minors

Following the SBI, Federal bank has rolled out a new savings schemes for the children below 18 yrs. The bank has introduced the savings scheme for minors named ‘Young Champs’. With the aim to develop the savings habit in children banks are introducing these new schemes.

Both Indian as well as NRI customers below the age of 18 yrs can avail this scheme. Children can open and operate this account on their own. They...

Posted 11:30:34 AM Complete Story | Post Comment | Read Comments(0)

Monday, September 15
J&K bank reopened 149 branches in J&K

Jammu & Kashmir state is going through a drastic phase with people severely affected by flood over there. People are hit by the financial problem as well, to help the people and assist them with the banking facilities the J&K bank has reopened its 149 branches in state.

The bank is having total of 300 branches in the state. The bank has paced up its services over the state. Considering the plight of...

Posted 11:35:25 AM Complete Story | Post Comment | Read Comments(0)

Monday, September 15
White Label ATMs to be rolled out by TATA group`

Lately it has been reported that TATA group is preparing to establish 15,000 new ATMs in the country in coming few years. 67% of the ATMs will be set up in rural areas.

The TATA group has already established 2,000 across the 18 states in the country and has received an overwhelming response from the customers. Currently the group is serving nearly 9 million customers. With the aim to serve more and to help the...

Posted 11:23:47 AM Complete Story | Post Comment | Read Comments(0)

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)

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