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Financial consultancy Celent has brought about a report on trends in retail banking 2013. Highlights
It may virtually be a sophisticated hawala transaction. But bitcoins are in the news mainly on account of the Cypriot crisis, which helped this open source P2P digital currency to cross the $1 billion mark in value. Its exchange value has become so volatile that in a matter of minutes on 8 April it touched $190 but tanked to $170. But there is no disputing the fact that the system is becoming all pervading with specific amount of bitcoins entering the system every week. So what is bitcoin? There is the official website, bitcoin.org, which describes it as ‘a digital currency, a protocol, and a software that enables instant peer to peer transactions, worldwide payments, low or zero processing fees and much more!’
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Islamic banking not possible, says Subbarao
2 NBFCs planning white label ATMs
SBI to have more cash deposit machines Encouraged by the customer response to the cash deposit machines, State Bank of India has placed orders to procure an additional 600 such machines that would help take the network to more locations across the country
2 Odisha RRBs merge Two existing RRBs in Odisha - Rushikulya Gramya Bank and Utkal Gramya Bank - have been amalgamated to form a new RRB - Utkal Grameen Bank, which will function with its head office at Bolangir under the sponsorship of State Bank of India
Corp Bank introduces transactions through tablets, iPads
KR Kamath is IBA chairperson K R Kamath, CMD, Punjab National Bank, is the new chairman of the India Banks’ Association (IBA). He will take over from Alok Misra, CMD, Bank of India, on 1 October. T M Bhasin, CMD of Indian Bank
Indian Bank, NSIC in tie-up Indian Bank has entered into a pact with National Small Industries Corporation (NSIC) to enhance its exposure to micro, small and medium enterprises. NSIC will sponsor MSME proposal
Cash retraction facility goes The Reserve Bank of India has directed all banks to deactivate the cash retraction facility at ATMs with immediate effect. Customers will have to be extra careful in collecting the cash dispensed by the ATM
EXIM Bank to promote project exports The Export-Import Bank of India is considering supporting Indian companies in exploring potential project exports in sectors like engineering, construction and equipment. In the past few months, the bank had focused on research and marketing schemes to identify the potential for exports in each sector
Syndicate Bank, Franklin Templeton in tie-up Franklin Templeton Investments (India) and Syndicate Bank have entered into an alliance to offer the entire bouquet of Franklin Templeton Mutual Fund's schemes through the bank's 2713 branches across the country
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It may virtually be a sophisticated hawala transaction. But bitcoins are in the news mainly on account of the Cypriot crisis, which helped this open source P2P digital currency to cross the $1 billion mark in value. Its exchange value has become so volatile that in a matter of minutes on 8 April it touched $190 but tanked to $170. But there is no disputing the fact that the system is becoming all pervading with specific amount of bitcoins entering the system every week. So what is bitcoin? There is the official website, bitcoin.org, which describes it as ‘a digital currency, a protocol, and a software that enables instant peer to peer transactions, worldwide payments, low or zero processing fees and much more!’ 
