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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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Monday, December 22
Last date to exchange pre 2005 notes 1st January 2015

It has been reported that only 11 days are left to exchange your old currency notes. RBI has asked to exchange the notes of all the denominations prior to the year 2005 with the bank. The Last date to exchange the notes is 1st January 2015.

The notes printed after 2005 are being enhanced with the security features that will help to reduce the fake currency frauds, therefore all the notes of 2005 and before...

Posted 11:55:58 AM Complete Story | Post Comment | Read Comments(0)

Monday, December 22
Banks to continue their protest in January

Following another strike, the banks have planned to continue their demonstration and protest. The banks will call upon a one day strike on 7th January 2015. Prior to this on 5th January, 2015 there will be a black badge protest and rallies by the masses.

The forum has decided to further intensify its protest by calling for a four days continuous strike between January 21 and 24 and indefinite strike from March 16. Banks...

Posted 11:49:21 AM Complete Story | Post Comment | Read Comments(0)

Monday, December 22
Many PSU banks have their branches running from rented facilities

The largest leading bank of the country – State bank of India has noticed as the bank with the maximum number of branches running from rented facilities among public sector banks. There are nearly 15570 branches of the bank that are working through the rented buildings.

Following the SBI its PNB at the second position with 6,596 such branches. The total number of rented branches of the PSU banks was noticed to be...

Posted 11:46:04 AM Complete Story | Post Comment | Read Comments(0)

Friday, December 19
Yes bank bagged Business Innovator award

Young Generation Bank – Yes Bank has won the Business Innovator Award. The Asian Business Leadership Forum (ABLF) has awarded the bank for developing the country 4th largest bank with in a short time period.

It is the pride moment for the bag award at UAE. This award ceremony was held on 13-14 December, 2014. Yes Bank has recently announced its first global footprint in Abu Dhabi with the launch of an international...

Posted 11:42:47 AM Complete Story | Post Comment | Read Comments(0)

Friday, December 19
Kotak Mahindra bank to set up a wholly owned non-life insurance company

kotak Mahindra bank has become the first bank to own a insurance business completely. Last month the bank has established a wholly-owned non-life insurance company under the RBI’s permission. At present, Kotak Mahindra Bank is a corporate agent for Tata AIG General Insurance.

However as per the RBI rules, the bank can hold 50% in an insurance joint venture. The bank has plans to start up the general insurance business completely by itself....

Posted 11:34:46 AM Complete Story | Post Comment | Read Comments(0)

Thursday, December 18
New cash Transactions facilities to be launched by NCR corporation

Recently it has been reported that ATM manufacturer NCR Corporation is planning to launch some new transactions solution. The new method will be preferably for the Retail and hospitality sector.

Apart from the ATMs, the new cash transaction products will be developed for hospitality and retail sectors. Firstly the company would be setting up a manufacturing facility near Chennai. NCR Corporation India stated that Chennai facility, being set up at cost of $100 million,...

Posted 11:46:47 AM Complete Story | Post Comment | Read Comments(0)

Thursday, December 18
United bank organized one day financial literacy camp

United bank of India organized one day financial literacy camp at Hilgha Villaget, Jiribam and Paithol Village. The camp is organized on 17th December, 2014 to aware the people in these areas regarding the banking and its facilities.

The Financial Literacy awareness campaign of Hilghat Village was graced by Th.Ibomcha Singh, Zilla Parishad Jiri Circle as Chief Guest and L.Brajamohon Meitei as president. The camp was organized by united bank of India and...

Posted 11:42:38 AM Complete Story | Post Comment | Read Comments(0)

Thursday, December 18
RBI imposed heavy fines on BOB and ICICI bank

Recently It has been reported that the apex bank of the country – Reserve Bank of India has fined the two biggest bank of the nation – ICICI bank and Bank of Baroda,. ICICI bank has been penalized with Rs 50 lakh fine and Bank of Baroda with the Rs 25 lakh fine for flaws in following in KYC norms. RBI has strictly asked the bank to follow and put in place appropriate...

Posted 11:40:53 AM Complete Story | Post Comment | Read Comments(0)

Wednesday, December 17
‘Bank aap ki Muththi mein’ branch banking on mobile by HDFC bank

Private sector lending institution – HDFC bank has rolled banking on mobile facility for its customers. With purpose to avail the branch banking facilities on the mobile phone of the user the bank has introduced ‘Bank aap ki Muththi mein’.

Through this facility the customer can over 75 transactions both financial and non-financial transactions. Now the banking will be in the pockets of the customer. The facility will allow essential transactions such as...

Posted 11:27:41 AM Complete Story | Post Comment | Read Comments(0)

Wednesday, December 17
Electronic Insurance account facility rolled out by IDBI bank

A new facility has been rolled out by IDBI bank, - 'Electronic Insurance account’ (e-IA). Electronic insurance account has been introduced for the IDBI bank customers eliminating the need to maintain the insurance policies on paper.

Making the insurance policies buy and maintenance this account will assist the customer to keep the policy easily and more safely. Through this the customers van not only keep their policies in electronic form but can also make...

Posted 11:21:59 AM Complete Story | Post Comment | Read Comments(0)

Tuesday, December 16
Banks to provide longer hours to carry out RTGS transactions

Now the customers will get more time to make the payments through RTGS. It has been reported that the Reserve Bank of India has asked the banks to increase the hours for RTGS transactions. The banks are been asked to provide the working hours for RTGS from 8am to 8 pm.

Further on the weekend i.e. Saturday the bank will provide the RTGS service from 8 in the morning till 5:30 in the evening....

Posted 11:32:56 AM Complete Story | Post Comment | Read Comments(0)

Tuesday, December 16
SBI looking to offer work from home option to its female employees

State bank of India is looking forward to make work from home facility for women employees for some functions. The Chairman and Managing Director of the bank Mrs. Bhattacharya stated that she is looking out for the feasibility of this plan if this could help their women employees.

She stated that it has been observed that out of the total employees more than 20% of the employees are women. The dropout rate of...

Posted 11:26:09 AM Complete Story | Post Comment | Read Comments(0)

Monday, December 15
Andhra Bank to expand its network in Orissa

With the aim to expand its banking operations the Andhra Bank has planned to set up a new zonal office at Sambalpur. At present the bank is having a total of 145 branches in Orissa, by the end of the next fiscal year bank wants to add another new 30 new branches in the state.

It has been reported that the total deposits in the State have grown by 39% between 2011 and...

Posted 11:31:55 AM Complete Story | Post Comment | Read Comments(0)

Monday, December 15
KVG bank to set more branches and ATM in the country

Regional Rural Bank sponsored by Syndicate bank – Karnataka Vilas Grameen Bank is hiring new 1000 candidates. There are total numbers of 2600 currently working employees in the bank, with an average of 55 years. Ashok reddy the chairman of the bank has stated that from past few years there has been no hiring in the bank and this time bank will hire 1000 new employees.

The bank has its branches in Dharwad, Gadag,...

Posted 11:27:12 AM Complete Story | Post Comment | Read Comments(0)

Friday, December 12
New Financial Literacy centre Launched at Rashtrapati Bhawan

Last day a new financial literacy centre was inaugurated by the president of the country Mr. Pranab Mukherjee. On the occasion of the Mr. Mukherjee’s birthday the new financial centre was launched to make the President's Estate a financially inclusive township.

It has been reported that this initiative is launched with the aim to make president’s estate more people friendly. Financial cum literacy camps were organized for residents of the estate. To develop a...

Posted 11:50:44 AM Complete Story | Post Comment | Read Comments(0)

Friday, December 12
Bankers are not paid properly : SBI chief

According to the CMD of the State Bank of India Mrs. Bhattacharya the bankers are very poorly paid in India. She stated that the bankers in India are not paid in a proper manner. Expressing the sorrow for them she stated that 70% of the bankers in the country are very poorly paid in comparison to the other parts of the world.

She stated that there is an urgent need to improve this condition....

Posted 11:47:49 AM Complete Story | Post Comment | Read Comments(0)

Thursday, December 11
Govt. wants students to have savings account in order to apply for scholarship

It has been reported that govt. has plans to make it compulsory for students of class Xth and above to have savings account. In order to apply for the govt. scholarships after Xth students must have a savings account with public sector banks.

For the classes up to 8th the scholarship amount will be directed to account of their parents. The students who are of age 14 years and above must have an independent account...

Posted 12:01:30 PM Complete Story | Post Comment | Read Comments(0)

Thursday, December 11
OBC bank slashed down the rate by 0.10%

Recently Oriental Bank of Commerce has also reduced its term deposit rates on selected Maturities. The bank has reduced the rate by 0.10% on selected deposits. Now the new rate has been revised to 8.90%.

For the time period of 1 year to 2 year the bank has revised the rate to 8.90% from 9%. The bank has reduced the rates on deposits of less than Rs 1 crore, the new rates have...

Posted 11:58:31 AM Complete Story | Post Comment | Read Comments(0)

Thursday, December 11
Special policy revival Campaign rolled out by Bajaj Allianz

Private insurance Company – Bajaj Allianz has launched a special revival camp. In order to help out the customers to renew their lapsed policy the bank has organized this camp. The company stated that the camp will continue till the end of the month and is specifically for the traditional life insurance policies.

The campaign will hither to will offer 50% waiver of the interest amount on traditional policies. It was also informed...

Posted 11:56:31 AM Complete Story | Post Comment | Read Comments(0)

Wednesday, December 10
Canara Bank revised its rates

Following the ongoing trend of cutting down the deposit rates, Canara Bank also reduced its term deposit rates. The bank has reduced the rates by 0.5% to 0.25%. The new rates will be effective from today itself. For the tenure of 1 year and less than it bank will now offer a rate of 8.25%.

For the period of 1 year to three year the bank has revised the rate to 9%. For three...

Posted 12:00:48 PM Complete Story | Post Comment | Read Comments(0)

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