All posts by banking

Banks on a branch opening spree

Reported by banking | Updated: December 30, 2013

Banks in India have opened more than 7,300 branches during calendar year 2013, the highest in the last decade. Canara Bank has set up 723 branches and State Bank of India 627, while ICICI Bank opened 587. One noteworthy feature is that most of these new branches were opened in non-metrocities. Banks maintian that the […]

CBI launches new mobile banking app

Reported by banking | Updated: December 24, 2013

Central Bank of India has launched a new Mobile Banking application and EMV compliant ‘RuPay’ debit card. Finance minister P Chidamabaram launched the scheme covering 103 branches and 103 ATMs of the bank through video conferencing. Rajeev Rishi, CMD of the bank, said the card would help traders to draw Rs 40,000 a day or […]

Doha Bank obtains India license

Reported by banking | Updated: December 24, 2013

Doha Bank has been granted licence to commence banking operations in India and has been permitted to open a branch in Mumbai to provide full-scale banking services. Chairman of the bank Sheikh Fahad Bin Mohammad Bin Jabor Al-Thani said in line with the bank’s strategy of expanding operations at the local, regional and international levels, […]

HDFC Bank facilitates online tax payment system

Reported by banking | Updated: December 24, 2013

HDFC Bank launched an online payment gateway for the Margao Municipal Council. Residents of Margao will now be able to make their house tax payments online in a quick and convenient manner, using any debit card, credit card or netbanking facility. This first-of-its kind initiative in Goa will reduce time spent commuting and queuing up […]

Banking services through Akshaya centers in Kerala

Reported by banking | Updated: December 24, 2013

Canara Bank is now offering its services through Akshaya centers in Kerala as part of its effort to extend banking services to rural areas. CMD of the bank R.K. Dubey said the project will enable the bank to offer its services at a point nearest to the customer. The Akshaya centers will act as hubs […]

Commercial cards held back by economic uncertainty

Reported by banking | Updated: December 23, 2013

Recent research by consulting firm RBR shows that there were 42 million commercial cards in issue in the 15 largest markets in Europe at the end of 2012, up 9% since 2010. Despite their numbers, commercial cards make up only 4% of the card base in the countries surveyed, suggesting considerable potential for future issuance. […]

Kanoria acquires Austrian bank

Reported by banking | Updated: December 23, 2013

Sanjeev Kanoria, a London-based British businessman of Indian origin, has acquired Austrian bank Hypo Alpe-Adria-Bank through a private arm Anadi Financial Holdings for €65.5 million ($89.5 million). The bank was formerly part of the Hypo Alpe-Adria-Bank Group which was nationalized in 2009 following the financial crisis. The bank has assets of €3.5 billion and services […]

Finacle ‘best in class’ solution for mobile banking

Reported by banking | Updated: December 23, 2013

Finacle Core Banking Solution from Infosys has been recognized as a ‘Best in Class’ provider by the CEB TowerGroup Mobile Banking Solutions Technology Analysis report. The report included 14 world-class solutions, evaluated on 23 key parameters spread across four categories – customer experience, interface development, integration & management and enterprise support. Finacle has been rated […]

Cyber Heists- Forever Here?

Reported by banking | Updated: October 3, 2013

Some time back, AGM of UCO bank lodged a complaint stating that about Rs 75,000 was illegally transferred to some other account. Recently, a doctor fell prey to phishing scam, and lost Rs 1.4 lakh. Cybercriminals had siphoned off Rs. 1.4 lakh from four bank accounts of a physiotherapist after tricking him into revealing his […]

Mobile Banking- A boon for end customer and Financiers

Reported by banking | Updated: September 27, 2013

“The PC Wars are over. Done. Microsoft won a long time ago.” – Steve Jobs. Fortune, Feb. 19, 1996 The above statement from Steve Jobs aptly summarizes the fact that in the modern world, efforts are being put in newer channels in addition to those applied for improving desktop technology;customers are expecting smarterfunctionalities on their […]